The Titanium Vault hosted by RJ Bates III

Don't Miss Out! Wholesaling Success Hinges on ONE Thing

• RJ Bates III • Episode 515

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If you’re new to my channel my name is RJ Bates III. Myself and my partner Cassi DeHaas are the founders of Titanium Investments.

We are nationwide virtual wholesalers and on this channel we share EVERYTHING that we do inside our business. So if you’re looking to close more deals - at higher assignments - anywhere in the country… You’re in the right place.

Who is Titanium Investments and What Have We Accomplished?

Over 10 years in the real estate investing business
Closed deals in all 50 states
​Owned rentals in 12 states
​Flipped houses in 11 states
​Closed on over 2,000 properties
​125 contracts in 50 days (all live on YouTube)
​Back to back Closers Olympics Champion
Trained thousands of wholesalers to close more deals

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With over 2,000 Videos, this is the #1 channel on YouTube for all things Virtual Wholesaling. SUBSCRIBE NOW!    https://www.youtube.com/@RJBatesIII

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RESOURCES FOR YOU:

If you want my team and I to walk you through how to build or scale your virtual wholesaling business from A to Z, click here to learn more about Titanium University: https://www.titaniumu.com

(FREE) If you want to learn how to close deals just like me, The King Closer, then download the free King Closer Formula PDF: https://www.kingclosersformula.com/close

(FREE) Join our exclusive FB group community for real estate investors and wholesalers: https://www.facebook.com/groups/titaniumvault/

(FREE) Click here to grab our Titanium fleet free PDF & training: Our battle tested strategies and tools that we actually use… and are proven to work: https://www.kingclosersformula.com/fleet

Grab the King Closer Blueprint: My Step by Step Sales Process for closing over 2,000 deals (Only $37): https://www.kingclosersformula.com/kcblueprint

Grab Titanium Profits: Our exact system we use to comp and underwrite deals in only 4 minutes. (Only $99) https://www.kingclosersformula.com/titaniumprofits

Want to know what the best markets to wholesale in are? Grab my breakdown of all 50 states here: https://www.titaniumu.com/markets

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Speaker 1:

Wholesaling real estate is all about volume. Straight up, it's a volume game. No matter how you look at this business across the board whether it's lead generation, acquisitions, dispositions, transaction coordination all the major aspects of this industry it's about the amount of volume that your organization can handle. Now let's break this down, going to the beginning lead generation. Without leads, we have nothing inside of our wholesale business. But it doesn't matter if you're doing PPL, pay-per-lead, cold calling, direct mail, whatever you're doing to generate leads, you have to be able to sustain a significant amount of volume or acquisitions will suffer, so on and so forth. Ifquisitions is suffering, so is Dispo, so is transaction coordination. Now, when we look at the different paths that we could decide for lead generation, I've given you guys the plan of a zero to a million dollars utilizing SpeedLeads Coupon Club. Now, since I've made that video, leadzolo and PropertyLeads our other two PPL vendors that we use have come up with their own versions of a budget option. Leadzolo now has their marketplace where you can purchase leads for as cheap as $35. And PropertyLeads now has a $30 option for nationwide exclusive leads. Property Leads now has a $30 option for nationwide exclusive leads. Now this really helps when it comes to the volume side of generating leads, specifically using what I consider the best lead generation tactic that has ever existed for wholesaling PPO. The reason why is because you can have volume. This is what you need. You need a significant amount of lead flow inside of your business because, yes, even though PPL is great, you're still going to come across leads that flat out want retail. They don't need to sell their house for a significant discount. They just saw an ad and they're curious about what we investors or cash buyers would be willing to offer them for their property. So we're still going to have dead leads and we're going to have leads constantly floating around that need three to six months, or maybe they're waiting on the probate, or maybe they're even trying to solve their pre-foreclosure with a loan modification. There's all sorts of different scenarios that take place when you're wholesaling real estate. So we have to have leads being generated at all times.

Speaker 1:

Now where I see majority of newer wholesalers struggle is that they hear me say one out of 25 coupon club leads. They think if I go out and I buy 25 or maybe even 50 or 100 leads, that means they should have one to four contracts. But this is over the course of time, guys, and you have to always be generating leads. This is what I mean by it's a volume game. You have to have some sort of set precedence inside of your organization where you know hey, every single day I'm bringing in 10 new leads, or maybe it's only five or two. Whatever that is, it has to be constantly flowing New leads in, dead leads out, follow-ups always existing. That's where you get those closes that come in three to six months after the lead was purchased and that's where those KPI metrics are achieved over the course of time. So the volume of leads that you have flowing through your business has to be consistent consistent as a tree. It's not just about our actions, it's about the leads that are constantly flowing in. Now, when you look at acquisitions and you're actually sitting down and you're placing the dials to these sellers, it's also a volume game. At the end of the day, if you were to hand me 10 leads and say, hey, rj, you say you could close one out of every 10 exclusive lead, here's 10, go close your deal. I would say why don't you give me 50? And over the next month I bet you I have five signed contracts. But if you just give me 10 and you make me sit down for one day to work on that, the chances are I'm probably not going to walk out of that session with a signed contract.

Speaker 1:

Volume is necessary when you look at transaction coordination. There are always going to be deals that we get under contract that end up in termination because something comes up that cannot be resolved after we've signed a contract or maybe even after we've assigned the deal. There are unsolvable issues. There have been times where we have locked up a contract for $50,000 and then come to find out that there was a $200,000 lien on the property or a $100,000 judgment against the seller that was then attached to that piece of real estate. We can't solve that. There's nothing that can be done, and so because of that, it leads to a termination. Now, at the end of the day, if we only had that one deal and we were only counting on that one assignment fee, our business is now crippled.

Speaker 1:

Again. It's about the volume that you have flowing in. You have to anticipate that there's going to be a certain amount of failure. That comes along with the contracts that you get. Same thing with dispositions when you get a property on a contract. There's going to be times, especially when you're newer, that you're not going to be able to find an end buyer. Now, resources are available nowadays with dispo softwares like InvestorLift, investorbase and DealSpeed. That gives you the contact information for end buyers.

Speaker 1:

But another scenario is reaching out to the communities that you're a part of. Inside of our free Facebook group, the Vault, I've seen several posts recently where people are saying hey, is there an established Titanium University member in this area that could bring me a buyer and I'm going to use those funds to then join Titanium University. I love that. That's amazing. Now, that being said, once you're inside of a group like Titanium University, you already know who are the dispo powerhouses who can dispo a deal in Detroit, michigan, and you'll get tagged Todd Chun, al Bean, all these different gentlemen inside of Detroit, michigan. Hey, who's a JV partner in Los Angeles? We'll go in and we'll tag John Medina and say, why, even JV with somebody? You could just go directly to an in-buyer like John Medina.

Speaker 1:

That being said, if you do end up JVing with someone, well, more of a nut, you're only going to get a certain percentage of that deal, somewhere in the range of 70% to 50%, depending on your JV partner. Now, when you do that, if half of your anticipated assignment fee has to go to a disavow partner, that's half of your revenue and probably even a larger percentage of your profit. So, again, you need volume, even when it comes to dispositions, when you're new, because there's going to be a certain amount of failure where you don't succeed, even with the technology that exists, even with the communities that you might be a part of. But if you get in this scenario where you do have to partner up with someone, money disappears.

Speaker 1:

Volume is necessary in order for you to achieve the amount of deals that you need, or the amount of money that you need. Really, who cares about deals? It's about how much money you have coming back to your bank account. So, across the board, in every different aspect of wholesaling real estate, volume is necessary. But when we're getting started, that seems so unachievable.

Speaker 1:

So here's where I really want you to break this down Instead of looking at it as like hey. Really want you to break this down Instead of looking at it as like hey, I need to have a significant amount of leads, I need to have 100 leads in my queue. Look at it this way what is a budget that you can commit to for the next 90 days. This is always the metric that I set, because I feel like if you could set a budget for 90 days, you get a really solid idea of if or if not things are working. So what's the budget for the next 90 days? Set that budget into place Now. Spread that over where you have a consistent lead flow coming in daily. We don't want whatever that budget is, to be dumped on day one and now you've got a bunch of old leads that you can't even touch. We want it to come in where maybe on day one it's only five leads, but then day two you have 10. By the end of the week you're going to have 35 leads. That's a significant amount, because what happens on day eight? Now you're up to 40. Sure, some of those are going to get killed along the way. That's not a real lead, it's a dead lead. But also, if you're doing things correctly and you develop the skill sets that are necessary, you'll start getting properties under contract. So set that budget Now. When you get to the acquisitions phase and you've got those leads flowing in, analyze your calls. Actually truly work on developing your skill sets.

Speaker 1:

Sean Diamond talked about the other day how uncomfortable it is to watch himself talking to a seller on camera a recording of his call. But he also talked about how much more confident he's gotten. He's also picked up on some bad habits that he had during conversations with sellers, saying the things like cash. See, in the moment when he was talking to the seller he was like I'll buy your house cash, but then he also picked up on how it kind of made him sound like a used car salesman so he eliminated that from his vocabulary while talking to the seller. This is improving his skill set. The other thing that also helped when he joined Titanium University is he allowed me to also review those calls to also see the things that I was picking up on.

Speaker 1:

Maybe not enough listening, maybe too much action and worried about comping and underwriting, and so his skills got better and over the course of the next three to six months what's going to happen is that your call to contract ratio is going to get better than on transaction coordination. There are going to be times where what seems and appears to be an unsolvable problem if you use a company like Easy REI Closings to do your transaction coordination, deals that otherwise felt like they weren't going to close will end up closing. And then, when it comes to dispositions, you truly start building out the relationships within the buyers that can be repeat customers, where it's not about that one deal, it's about the fact that I know that next time I see a lead available in that city, in that market, I know exactly who I'm going to disbill that deal to. So the volume works both ways. Yes, you need volume up front of leads and deals. But if you focus on consistently generating leads, not dumping all of your budget up front but spread out over the course of time new leads coming in daily, and you focus on developing your skill sets on acquisitions, that's where volume will start increasing over the course of time. It's the compound effect of the daily calls, the daily voicemails and the text messages.

Speaker 1:

And then, when it comes to dispositions, once you get a deal on a contract and you assign it, boom check relationship established with an end buyer that can be a repeat customer for you. So, yes, wholesaling is a volume game, but it's volume across the board. And don't get lost if you're at the beginning saying, oh my goodness, look how much money I have to spend and look how many deals I'm going to have to do to create your own reality. Of course, that's what you signed up for, but it's very achievable if you reverse, engineer it and focus on what are you doing today to achieve that result. Let me know what you guys think in the comments. I appreciate each and every one of them. Make sure you give me some love on this video and we'll see you guys on the next one.