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The Titanium Vault hosted by RJ Bates III
RJ Bates III, affectionately referred to as the Viking Wizard by his students, started his real estate investing career in 2014 after attending a real estate education program that put him $65,000 in debt. RJ contracted his first deal he found on the MLS and wholesaled it for a $7,500 assignment fee. That was the end of his former life and the beginning of his venture into becoming a real estate investor. Since that moment, RJ has become an influential figurehead in the real estate investing industry. He has successfully purchased and sold over 2,000 properties all across the USA including wholesale deals, rehabs, rentals, owner finances and short term rentals. One of his passions is being the host of The Titanium Vault Podcast where he interviews the top real estate investors and finally, RJ has won back to back Closers Olympics earning him the reputation as the King Closer!
The Titanium Vault hosted by RJ Bates III
Wholesale Hotline with RJ Bates III, Jerry Norton & Brent Daniels
Want to work directly with me to close more deals? Go Here: https://www.titaniumu.com
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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
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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
Welcome to Wholesale Hotline. I'm Brent Daniels, I'm Jamil Damji and I'm Jerry Norton and I'm Pace Morby. Every week, we bring you the best information on real estate investing. Be sure to participate in the comments and subscribe Wholesale Hotline. Wholesale Hotline.
Speaker 1:Wholesale Whoa yeah, woo, woo, woo. Welcome to Wholesale Hotline number 271. My name is Brent Daniels and I'm joined by the incredible Jerry Norton and today's superstar guest, rj Bates. The first Nope. The second Nope, that's not it. The third, rj Bates, the third here, one of our favorite, favorite, favorite co-hosts, and we are so fortunate to have him on here. He is on fire in 2025. And interesting time, right, guys, interesting time. Right now. This market is very boring. There's a lot of people coming out, leaving the market, a lot of people coming in kind of getting their toes wet. Rj, what are you seeing out there? What are you seeing in your business? What are you seeing in the second quarter of 2025?
Speaker 3:Man, it is interesting times because I deal with so many people that are new and also I'm such a stickler on hey guys, we don't flip houses, we don't do rentals Hedgehog concept I always preach we're going to be wholesalers. So a lot of our guys are seeing success, otherwise not really paying attention to what us old, old fogies know. Hey, the market's a little bit different than it has been the past couple of years. They don't know any better. So I'm seeing a lot of people succeeding with that. And then the people that have been in this industry for the past several years making adjustments to doing a lot more hotels, making adjustments to doing a lot more whole tails, even than they were a couple of years ago, and also novations, but doing it a little bit different than it was maybe a year or so ago, where a lot less hey, we're going to go in and do repairs a lot more just coming in, being fully transparent with the seller about wanting to do a novation and making a win-win for all, the parties included, and a lot of wins going on.
Speaker 3:Man, I know things have been kind of trying for some people, but I feel like with laser focus, there's a lot of people that are really succeeding right now and I keep saying it, I've been saying it for the past two years I think we're in the golden age of wholesaling. I think with what we've got with lead generation, it's a lot easier for us to get a hold of actual motivated sellers, and so people are succeeding because of that. I mean, it's just a different issue, a different problem than we had a couple of years ago. A couple of years ago we had to do a lot of work to actually get in contact with motivated sellers, and that issue has gone away. So now the issue is on the dispo side and finding the actual go-to cash buyers. That's what I'm seeing right now.
Speaker 1:What does hedgehog concept mean? Rj.
Speaker 3:So, thanks to Eric Brewer, I got that little hedgehog back there. It's just, it comes from Jim Collins' good to great book. It's a parable. Basically, there's a you're either a fox or a hedgehog, and the hedgehog only knows how to do one thing, and it's curl up in a ball and not get eaten by the fox. Fox knows how to do a bunch of things.
Speaker 3:So in a business, the parable goes you want to be a hedgehog, you don't want to try to be a jack of all trades, you want to be a master of one. And that's what I believe in. I believe in that because I was a fox and I tried to kill myself. I remember sitting in Brent Daniels' office a couple of years ago and wondering about how I was about to lose six figures on a flip right down the street from his office and wanting to know why was I trying to flip a house when I live in Fort Worth, texas, a mile from Brent Daniels' office? Why didn't I just call Brent Daniels and wholesale the thing to him? And so that's what we do nowadays. And so the laser focus on one core thing that your business does. That's what a hedgehog concept is.
Speaker 1:Thoughts on that Jerry.
Speaker 2:Yeah, I mean I think, along with what RJ is saying here, I think the market, we're in a place now where wholesaling and real estate investing in general, it's lost the luster, the shine. It's not so hypey, it's not so get rich quickie. I've been around for 20 years, I've been in education, 15. And I've seen these cycles where it's very, very attractive. So you see an influx and a lot of interest, and so the market gets flooded with a lot of people and it's all hyped up. And now we're in I call it the fundamentals. We're in a fundamentals market.
Speaker 2:You got to follow sound business practices, is what RJ's pointing out. If you don't follow really sound business practices today, then you're not going to survive. You're going to be one and done, or you're going to never get to that first deal, or you're never going to build a sustainable business because you don't have the market in your favor. It's not appreciating where you can screw up and it's very forgiving. So what does that mean? It means you just got to stick to the basics and it's it's going to be where it's.
Speaker 2:Um, it's pretty boring, you know, like it's the same thing. It's consistency. Again and again, day in and day out, playing, doing the things that give you the big results. You know it's, and so I think a lot of people they, they really like the, these new ideas and these new strategies and this new shiny object. And if you follow what I'm doing and RJ, and I think you too, brent it's like no guys, we're going to do the thing that we know that works. There's a few steps to it and we're going to do it again and again every day, hours on end, and that's how you make millions of dollars and the people that are attracted to that like, okay, you mean, all I got to do is put my head down and go forward and I'll see results. Yeah, that's all you gotta do. Let go of all this other you know, all the fancy, shiny object and appealing and sexy new fangled thing, and just focus on the fundamentals rj, are you doing any flips, any innovations?
Speaker 3:zero so what are you doing? Also, wholesaling baby. One thing Every contract that comes in gets wholesaled, even if we have to convert it to a novation. I will not do it myself. I will reach out to someone else, like Travis Wells TU member. Travis, do the novation on this. I could do it. I'm not going to. Travis, do the novation on this.
Speaker 2:I could do it no-transcript.
Speaker 1:It is, and I love it.
Speaker 3:You know what else is not boring. You know what's not boring? Doing whatever, I want your bank account, yeah, I mean. It's like right now we as a collective group, we can do whatever we want. So, like my whole company wants to go play a round of golf, we can go do that. If we want to take three days to have a company retreat, which we just did a week ago, we can do that, and that's because we don't have to worry about who's going to go walk that house, who's going to do this, who's going to do that. We know exactly what we're doing and, yes, it is the exact same mundane actions day in and day out. It is extremely boring, but life is not.
Speaker 2:You know it's not actually boring, though, because I don't know what you guys think, but talking to sellers is like you never know what in the world you're going to get, and I find it interesting every single call to get and I find it interesting every single call.
Speaker 3:Well, I would agree with that. I mean, funny, you bring that up. I'll go ahead and share this story. I was going to wait until later, but I'm sure we've got a good crowd already in here. So we have inside of TU we have our implementation calls where it's daily Zoom calls with all the members.
Speaker 3:Guy hops on today and he says, man, that deal I got in date in ohio pictures came back, horrible condition, we're gonna have to terminate. I said did you try to renegotiate because of the condition? He said yeah. Seller said it's 23 000. Take it or leave it. I said, dude, the pictures, the pictures he's got to know. You want me to call a seller? He said yeah, it'd be great. So I don't normally do that. But I picked the phone up, called the sellers and I called the seller, asked them about why would he not take a price drop on this? It's a date in Ohio. It was locked up at 23,000. Probably needs to be more, like 10, maybe even less.
Speaker 3:Start talking to the seller about it and he breaks it down and he's like I'll just do the work myself. 10 minutes later, after explaining to him what he was going to put himself through and the math that he was doing. He's on the Zoom call with Titanium University all the members and we're convincing him that he no longer needs to try to flip houses. He needs to get into wholesaling because he doesn't know what he's doing and so now he's officially a tu member, he's gonna allow us to dispo that deal. You never know what's gonna happen when you're on the phone with sellers. Baby, it's, it's just yeah, it's like cassie said, we're not bored, uh, it's just a different kind of uh, fun and action.
Speaker 2:You know we used to you, you turned the seller into a student, yeah, wow, into a wholesaler. That's funny, that's fun.
Speaker 3:That's what he needs to be and and you know what he was at he was borderline in tears at the end because he goes. I've never had anyone in my life really show me what I'm supposed to do. You're the first and he said all of the investors kept calling me and telling me the house needs to be 10,000, 10,000. And he goes. You're the first person that stopped and explained why 10,000. That makes sense. I'm willing to do it and I want to do what you're doing. That sounds way better than what I was going to do.
Speaker 3:So you're right, jerry, it isn't boring because you never know what's going to happen during these calls. But going back to one of your other, both of y'all talk about this all the time, not to change the subject. But I think we need a lot more of that in this industry Transparency about, hey, why we're doing what we're doing, getting more people on board. I think if we started doing some of that what you guys are doing with the association and trying to combat the regulations, man, I bet if we were just more transparent in what we were trying to accomplish and getting deals across the finish line, there would be a lot less people trying to come down on the regulations on our industry.
Speaker 2:Well, what I find RJ most of the time not every single time, because you do have some sellers that are just highly emotional and they could care less about why, but for the most part, I find that a reasonable person. If you walk them through where you're coming from, how you're coming to your number, and you explain it to them and you walk them through it. You're coming from, how you're coming to your number and you explain it to them and you walk them through it. Like I pull, I pull up and I say, well, you know, let's take a look. Right now I'm looking at did you see this house over here, two, two streets down? That's your same house. You know, it's all brick though it's twice the size. You know, like I just walk them through it and I explain it to them and they're like yeah, I see where you're coming from, that that makes sense why you're at your number and maybe they won't come down that low.
Speaker 2:But guys, why are we trying to there? There's no sales tactics really. It's just explaining to somebody what we're doing and why we're at a number we're at, and if it makes sense, let's move forward. If it doesn't, you know, here's your other options. Let's talk about your other options, maybe something, maybe there's a better idea for you that that we can talk about. And you know I want you to make the most you can. If that sounds better to you, go fix it up yourself or go whatever, hire an agent, whatever it is. But like, just talk to people and explain to them, that's it, yep.
Speaker 1:Cassie's on it today. Cassie says talking to people about what their options are is so key in this business. It isn't that we won't put a deal that isn't a good wholesale in the hands of the right people to work on it and partner Awesome, so true. So what are you doing to find these deals?
Speaker 3:RJ, all about the PPL Paper lead, baby Paper lead. I mean, listen, there are people. Now what I've seen recently is that and Brent, you're one of them you dabbled in the PPL, you're using PPL, and then you also decided, hey, I'm going to go run my own PPC campaigns, right, right, this is where I go back to my hedgehog concept. I could absolutely run my own ppc campaigns, guaranteed get leads for cheaper than what I'm paying right now. However, the people on my team that run google ads, facebook ads and all of that they are specializing and they are laser focused on generating those leads for titanium university. To take them away from what they're doing over there and then say I need you to now run campaigns to try to generate leads for motivated sellers would be steering away from their hedgehog concept.
Speaker 3:So for me, I have put my wholesale operation in the hands of Speedlead, leadzolo, property Leads, those three PPO companies. I stay in direct communication with them and I make sure that the quality of leads is always high, not only with our company, but also everyone inside of TU, to where their members they get feedback. It's not just about our company, but also everyone inside of TU to where their members they get feedback. It's not just about our metrics, it's about everyone's metrics, and what I've seen with that is that we actually get incredible KPIs in comparison to what other people are seeing in the PPL realm. But I don't have to worry about running my own campaign, so I just am so laser focused on what I'm doing I just don't even want to move away from that.
Speaker 3:We stopped cold calling at the end of 2024. We don't do any direct mail. We don't have anything. I mean we are really running the most boring wholesale operation of all PBL, only wholesale. It's not sexy, except for, like what jerry said, just the deal flow in the bank account are you going nationwide?
Speaker 1:are you, are you in specific markets? How does that work?
Speaker 3:all 50 states. So what happens there is yeah, we will end up getting a lead in south dakota or wyoming or montana, but that, like this, is the podcast where squad up a game of thing Right. So I don't understand why that's not happening more in the industry with deals Like because that's what we do, like I got a lead the other day. I was live, I got a lead in South Dakota. Seller says actually I called it before. I said I'm going to lot this deal up, I'm going to call Danny Herman and Danny's going to dispo it. Seller says can you give me 10 minutes? I got to take this call, got off the phone call, picked up Danny Herman on the line line hey, danny, seller wants 120. He said we need it at 100. Call seller back 95, 000, signed contract, danny's dispoing it.
Speaker 3:So dispoing a deal in south dakota is damn near impossible unless you know you have danny herman who's from south dakota. Yeah, and it's no investor lift, no investor base, no dispo process whatsoever, it's just 50% of the deal. I'm completely okay with that because all I did was acquisitions place a phone call and it's dispo. And so, yes, we have opened it up. We've always been all over the place, but now it's a lot easier because of the community, and I would love to see more of that happening in these Facebook groups and inside these podcasts, where it's like, hey, squad up. It's like, well, yeah, squad up with value. I squad up by saying, hey, danny, you're in South Dakota, I got a deal in South Dakota, now let's squad up.
Speaker 2:So, rj, what advice, though, can you give with rural versus metro markets, right? So like when you go on there? I go on there all the time, and I'll typically pay more for a metro. When I say metro, like you know, within an hour from a major metro market type of town or city, I prefer to buy those than some town I've never heard of in the middle of nowhere, even though those are way cheaper. What's your advice on that? If you can pick and choose, what would you tell somebody?
Speaker 3:So well. There's difference between the three providers. Right, Speed to Lead has the marketplace to where you would know the location prior to buying the lead. Obviously I'm not going to go in and be like, oh, look at that, it's sitting in the middle of nowhere Wyoming, let me buy this. You know I'm not going to buy that lead. It's going to be based around the location. My rule of thumb on that is if you're on Speed to Lead, it shows you the amount of buyers in the city and the county prior to you purchasing the lead. I want a minimum of 2,000 buyers in the county before I purchase the lead. That's my rule of thumb.
Speaker 3:Leadzolo now has a marketplace where you can purchase leads for super cheap down to $35. The problem with LeadZolo is it only gives you the county and it doesn't have a buyer. It doesn't have deal, speed or investor, lift or anything like that. So what you need to do is have lift or base, see the county, then go before you buy it and see do I have 2000 buyers, buyers? There is a buyer activity. Are they actual buyers? Because sometimes on lyft it'll show you and it's like dude, that's a thousand realtors like they're. They're not actual buyers. So you need to see if there's buyer activity and then you can do that.
Speaker 2:You can do that for free on prop wire too. Put the county in there, click the cash buyer, tat you know, field and I'll.
Speaker 3:Listen, you haven't made me an affiliate yet, so I don't know I maybe, once we get to 10 lives together, you'll actually make me an affiliate and then I'll talk about you. I don't know, man, but property leads that's the one $30 exclusive nationwide leads. Listen, you're going to get the ones that are out there in the middle of nowhere and you just got to navigate that. Sometimes you got to embrace no and just say, hey, that's the. You're in an area where there's no activity and maybe you get creative, maybe you could do a novation or something like that with it. But realistically we just kind of walk away from those.
Speaker 2:I got another question for you, rj, because you're nationwide. One of the challenges is nuance in a market, meaning anybody can comp or you can learn how to comp. But in some markets you're like am I on the right side of the street? Is this a bad school district? Am I near shopping or downtown? Is there a homeless shelter down the street that's going to kill the value that I'm not seeing because I'm looking at comps two streets over. Does that create a high contract fallout rate? Is contract fallout rate higher nationwide versus in a concentrated market where you learn all the nuance Of course, of course it is.
Speaker 3:But I will also say everything can be solved inside of acquisitions. Okay, so you guys know I'm the king closer and all that stuff, and so I always point back to how can we solve a problem here. So, yeah, contract to close ratio is important. How can we improve that? So one of the things that we've added is the process in which we close a deal and how we really explain to the seller.
Speaker 3:Mr and Mrs Seller, we're buying your house sight unseen. There's a process that we go through and it's the exact same process as open door, offer pad and all of them. If we can come to an agreement on a price today, I'm going to send you our contract. Once you sign that contract, we're going to come out and we're going to do our due diligence and we're going to do our walkthrough and inspection of the property. If everything checks out the way that we think it is, based off of what we're seeing today, then we'll be good to close on your price and on your timeline. But if not, we are going to have to revisit price and timeline. Does that make sense? So we send it out to our buyers. Buyers tell us you're on the wrong side of the street. There's a homeless shelter right behind you.
Speaker 3:The most I could pay would be $20,000. We have it locked up for $40,000. We go back to the seller with those facts and we renegotiate it. And is it always? Does it always work? No, but the conversation is very important. It's not, jerry. The most I can do is $15,000. It's Jerry. The most I can do is $15,000. It's Jerry. The most any investor is going to do is $20,000. Because I have access to all of the buyers. I just talked to them. I'm wholesaling your property.
Speaker 3:So I already know this and so, at that point in time, you're telling them the facts. I'm going to assign this. I'm going to wholesale this. I need it for $15,000. I'm going to assign this. I'm going to wholesale this. I need it for $15,000. I'm going to make $5,000. This is what's going to happen. The transparency and explaining the process of what's taking place. It earns you credibility.
Speaker 2:Yeah, there's the right way and the wrong way to renegotiate a contract. What you just explained there was you're laying the groundwork and you're establishing a possible renegotiation down the road ahead of time, so the seller knows, going into the deal, hey, I'm signing this. But there is a possibility that when these guys come out here that it's not what they think it is. For one, I better be transparent about what's going on, because they're going to find out anyway, and two, it's not going to. I'm not going to be offended when they come back and they say hey, you know, new things came to light here that we didn't know before. Here's what they are and here's now a way to move forward. That is just being honest and open with people and people aren't going to be offended by that. Now they may say no to your renegotiation, but they're not going to be upset about that and you haven't done anybody any wrong.
Speaker 2:Where people do this wrong, RJ, is they say, yes, I'll pay 40. That's a done deal. I'm the real thing. We're going to close in 30 days. Oh, wait, a second Changed my mind. We need to be at 20. That's offensive. That's where we do damage in the industry, because people started making plans or whatever. The U-Haul's packed and you're coming back the day before closing. All that nonsense. That's not what RJ is talking about here. He's talking about setting it up from the very beginning on a property you haven't seen where you're not doing due diligence before you have a contract. That's a big no-no. Always have a contract, but you give yourself a little window of time, you explain that to the seller and then now you get the cash buyer feedback. That's now your feedback. You're armed to go to the seller with legit reasons why you're having to renegotiate. I never renegotiate with a seller without having a really good reason why, and most of the time the reason why was the feedback I got from 27 buyers who told me the same thing over and over again.
Speaker 3:It needs a new roof or whatever. The problem is that we didn't know we had. I also don't like renegotiating unless I have a firm offer from a buyer. The worst thing in the world is renegotiating and then having to renegotiate again. Also on that note, when you go to sell a house on the retail market, this is the process. A house on the retail market, this is the process. I would like $100,000. They offer me $100,000. We sign a contract. They then come out and do an inspection and then come back and say, based off the inspection results, I need 5,000 in repairs or 5,000 in credit.
Speaker 3:That's the same thing that we're doing. It's only frowned upon in this industry because us as leaders, have either said it's not what's supposed to take place or we have taught our communities to do it the incorrect way. Instead of setting the precedence of this is what we're doing and then renegotiating the correct way. So for me, I'm just very much like listen, I'm putting my head down and I'm just going to teach people how to do things the right way. That's why I love you guys, Because there's never a circumstance where I've come across where someone's told me hey, Brent told me to do it this messed up way, or Jerry told me to do it this messed up way. That's why anytime you guys ask me to come on here or do anything with you, it's like absolutely, Because I think we're very much on the same page of. This is how things are supposed to be done.
Speaker 2:But always negotiate a good deal out of the gate.
Speaker 2:Oh yeah, a strategy to renegotiate as a strategy is a terrible business model. You're going to waste so much time and it's just why. Why do all that back and forth? And you sent somebody out there and you're doing all this stuff. You got signed contracts, you opened escrow. You know like guys go in to win on the first, go like get a good deal. You know a good deal solves all your problems. Good deals are easy. Dispo should be easy in this business, not hard. It shouldn't be a ton of work to dispo. It's only a ton of work. If your deal is skinny or marginal, get a fricking good deal and dispo. It's only a ton of work. If your deal is skinny or marginal, get a freaking good deal. And dispo is fun and easy because people are fighting for your deal.
Speaker 1:That's how we want a dispo where everyone's fighting for your deal Facts, rj, if you're having this disclosure, if you're explaining this to the property owner, is there ever issues when they have other offers and the other offers are not saying these things? They're telling them that they're going to close, that they're superstars, like everything's going to go smoothly, the whole thing right. How do you? How do you navigate those waters? Because when when my experience with inbound leads as opposed to outbound, as opposed to door knocking or cold calling, is, there's usually other offers being made. Now, that might just be a major market versus a smaller market type of thing. It just might be universal across the board that people are going to fill out more forms and they're going to have more people giving them offers. So if there's multiple offers and you're saying, hey, listen, I can give you this as long as everything's good, as long as you know I understand what's going on with the community and all these other things that adds contingencies to it, um, how do you navigate that?
Speaker 3:Yeah, so, uh, our competition sucks. So for me, I mean mean pretty much anytime I hear someone say, well, I already had these other offers, I normally use all the things that are all over tiktok, instagram and youtube to my advantage, where I'm like, all right, talk to me about what that other offer was. What did they promise you? Did they promise you that they were going to put on some white gloves? Did they give you the white glove program? Did they say that they were going to protect your equity with the equity protection program? Did they have to go talk to their underwriter? What did that look like? And when that happens, then I just educate them on what's happening. See, here's the deal.
Speaker 3:Transparency wins because they can feel the authenticity come across and so, more often than not, with a direct line of just a direct conversation, they will feel that, hey, this guy actually is going to take care of me. This is where you could see offers of a seller has 100,000, 110,000, 105,000, and now you lock it up at 80,000, where the seller says I didn't believe those other people, I didn't understand what was going to take place and the only thing that would really get me would be where I cannot compete and I will openly admit this to a seller is if I'm in a market like Phoenix Arizona and they tell me Brent Daniels came to my house and told me they will buy it right now and they will put down $10,000 hard EMD, yep, I will tell them you should go with them. Yeah, I mean flat out, I can't compete with that I haven't seen the house.
Speaker 3:He's already seen it. You should move forward with that. But that's also. We can go into these conversations knowing that as the virtual wholesaler, we're okay losing to the belly to belly guys to do that. That's just part of the game. But more often than not, man, that's really. It's actually a blessing when I hear that the competition has already gotten ahold of a seller. And then the next thing that we'll do is is we'll tell them all right, if you're going to sign a contract with them, when's the closing date going to be? I'm going to follow up with you and when that fails we're going to move forward. We'll revisit what the price will be then.
Speaker 2:I remember, RJ, the last time you and I did live calls with your students, one of your students was on the call and he was trying to lock it up like way too high. You and I are in a private chat saying no, no, what are you doing? No, you got to be like way, you got to be way here, but he wasn't looking at the chat. Finally, the seller is like he just hangs up and the feedback was that you and I gave him was he didn't believe you because your price was too high. It wasn't believable. He was trying to tell you it's not worth that much. There's no way someone's going to pay that. So he must've figured you're a scam, because why in the world would you pay that much?
Speaker 3:Yeah the numbers were, he offered them 20. We were telling him to offer five when the seller Brent it was hilarious the seller goes you're going to give me $20,000. And Robert was likebert was like, yeah, I'm gonna give you twenty thousand dollars click yeah, robert, he hung up on you because he didn't think you were real bro.
Speaker 3:Yeah, he thought you were a scam. Uh, I don't know if it's that extreme all the time, uh, but to answer your question, brent, I mean it's just each one of these conversations can be. You can beat your competition with authenticity more often than not sure.
Speaker 1:Hey, do you see? Do you see a big difference with the? Because there's certain markets, rj, like phoenix. If you try to do it virtually and build it here, you're going to get crushed. There's just too many of us going to the properties. There's just just too many like real, real companies that are spending a lot of money on brands and these other things. Do you see that?
Speaker 1:Certainly, you said 2000 buyers in a marketplace is like your minimum standard from the buyer side. Is there a? Is there an indicator on where you would go and what? Where you see is like a really good opportunity to be able to buy people's house and build trust over the phone, having a conversation. Now, listen, it can happen anywhere. It just depends Every every seller's different. But I've seen the high appreciation markets. These sellers are like hey, I know what I have here, you know what I mean. It's I want to get. I want to get three or four different options and this type of thing Is it better in these slow appreciation markets or is it? Is it no difference in your experience?
Speaker 3:So one. My intention every year is always to steal four deals from you. Yeah, that's my, that's my goal. If I can get four deals in Phoenix, I stole $100,000 from you, easy. And as a virtual wholesaler I won the year Because I'm not trying to do volume in Phoenix, right. So if I can do three to four deals there and three to four in Houston and three to four in Tampa, I'm winning. And then the vast majority of our volume is going to come in the areas, like I mean, we did a deal in uh, these are the arizona deals I can remember off the top of my head snowflake arizona, right. Uh, we can go down south, uh, where it's I think it's actually maricopa city, not the county right, areas like that where it's like maybe you're not hitting as much, we'll get more deals there. But dude, for us, we live in the midwest and sunbelt, right. I've always told everybody anything west of texas sucks. This bowl is great, acquisition super difficult. But if I can get up in the detroits and the columbus and the clevelands and the indapolis and places like that, acquisitions is super easy and I can live in that $12,000 to $15,000 assignment range and I'm happy because acquisitions and dispo is easy.
Speaker 3:And then the other question that you had there about appreciation, whether high or low. To be honest with you, that's not really a metric that I care about too much. I am just more focused on what is the seller's motivation and how many buyers do I have there? Because if the seller's motivation exists, then I know that I can get it for a discount. You know, one out of nine times, depending upon what that price point is that the seller more of them, not sellers are going to give me the incorrect price. They're going to want way up here. If I can close one out of nine of those on incorrect price but they're motivated, then I'm a rock star and so that's what I'm looking for.
Speaker 3:So, like speed lead I love because it shows me what the motivation is Retirement elsewhere, downsizing these are the ones moving. I'm staying away from those. I'm looking for selling a vacant, non-occupied house that needs work. So it shows me the physical condition. So I'm building a bridge for myself before I even get the lead, because I'm like I need motivation, I need physical distress and I need buyers. If I've got those, I can care less about the appreciation. We'll figure out the numbers inside of there and I'm not worried about competition. Honestly, I'm never worried about competition.
Speaker 1:Average cost per lead that you like. What's the sweet spot?
Speaker 3:So our coupon club leads for Speed Elite. We got Grandfathered in we're at $9 a lead for the coupon club, right, so we're bringing in those. A lead for the club, right, so we're, we're, we're bringing in those in the masses. Nine dollars, uh, and then property leads is 30, and then lead solo is somewhere between 35 and 45, depending on where you buy them. Um, so we're, we're down there in the, in the cheap range, our that's the discount stuff.
Speaker 2:You're buying the you're buying the exclusives too right, the expensive ones.
Speaker 3:The property leads for $30 are exclusive. Oh, they are. It's all those exclusive. The coupon club for speed elite is not exclusive. Yeah, oh man, look, she just realized she's been spending $300 on speed elite. Look at how upset she is.
Speaker 1:Yeah, she heard you say 35. I think everybody uh in the chat who's spending. Uh, you know, a hundred dollars is a good price for lead and you're at 35.
Speaker 3:She's like what just happened. He said he got grandfathered in and nine, you should have followed me in 2021. I told you no man, the leads are. Why I say we're in the golden age of wholesaling, because in the no man, the leads are. This is why I say we're in the golden age of wholesaling, because in the past man, think about how much we were spending on skip tracing and dialers and VAs and texting and all of that. I mean, dude, to generate an actual motivated seller like we knew before. We could ever do it for $9? I mean, the only difference is it's been sitting there for 48 hours. Who cares Our competition doesn't pick the phone up $9 leads.
Speaker 1:Yeah, that's bananas. You're not getting those in Phoenix.
Speaker 3:Anywhere. As long as it didn't get bought exclusive in 48 hours, I get access to it for $9. That's all I'm saying, dude. I only need four in a year to get what I needed. I just want to drink some of your milkshake, man, not all of it, that's it. I need four to just slip through the cracks, and then I got you.
Speaker 1:That's awesome. And what do you so for Dispo? You're? You're mostly selling it within the with with people that you know, or are you using the investor lift in the investor basis?
Speaker 3:Oh yeah, I mean we use. We use all of those platforms. But I will tell you, I mean at this point, we've been nationwide since 2020. So five years. I mean we have areas where we know who the buyers are. We don't necessarily have to work the dispo um. But we're also now with with growing to you. I mean, like I use danny herman as an example, I I don't have a known buyer for, you know, rapid city, south dakota, right?
Speaker 3:so that was easy. I just go to him, um, but yeah, we still. You know, we we just had a JV deal with Carlos inside of our group. He wanted us to dispo it. It was kind of rural Florida. We tried to dispo it, doing the whole investor lift, blasting it out, calling the God mode and the cartel mode and doing all of that. But more often than not nowadays we're just strategic about where we get our leads based around. Hey, we know where we have buyers.
Speaker 1:Can you give them, those PPL companies again?
Speaker 3:Speed to lead property leads, lead Zolo.
Speaker 1:Boom, nice. I've got a bunch of questions here, guys. If you don't mind, we just kind of tackle these, all right? Sam asks RJ, what's your standard inspection timeframe?
Speaker 3:All right, you ready for me and Jerry to fight? Someone asked me the other day why haven't you and Jerry argued about this? I was like, first of all, I didn't know me and Jerry had anything to argue, I put the entire length of the contract. Now, I know Jerry doesn't like that, but here's my thought process. I'm very transparent with the seller about that. I talked to him about the fact that if you put me in a tight window, say 10 days or seven days, and I get to the end of that, you put me in a weird precarious position where I might have to terminate when otherwise we could come to agreement.
Speaker 3:So what I do promise you is is constant communication throughout the process about where we're sitting. So there will be emails, there will be text communication, there will be phone calls about where we are and I will always let you know if we are not going to be able to make a deal happen. So this is not one of those where we're buttoned up to the day before closing and then terminating, Unless that's what the seller says. Hey, I'm okay with you trying to make something happen up until that point. Again, if a seller has a problem with it, we will amend it. They say the most I'm willing to give you is 14 days, then fine, We'll just amend it to 14 days. But I also tell them the downside to that. What happens if, on day 13, I call you and you don't answer the phone, At 5 pm I'm sending you a termination if you haven't answered the phone. So then we would have to go through this entire process again. So more often than not they're going to work with me Awesome.
Speaker 2:Yeah, the reason why I mean RJ you play on the up and up Like you're a straight shooter. You're very transparent, you're very honest with people about what you do. You run a legit organization. The problem is is the inspection up until closing is often abused in the industry and that's actually something they're coming after. It's come up several times now in some of this protection stuff.
Speaker 2:Arizona's got a problem with that right now and so, like Jeff Watson attorney out of Ohio he calls it, there's no mutuality of obligation. If your contract says I can back out for any reason up until closing, but seller, you can't, then it's off balance a little there. So it's just something where guys, I think that might be taken away or it might be getting more frowned upon. If you're going to be doing that and I used to have mine that way too If you're going to have a contract that says I have all the way up until closing to to uh back out of the contract, just be careful, because that's something that's getting looked at heavily right now. And above above all else, I mean just do the right thing, treat people fair and honest and be transparent, and you know if you're doing that, then most of the time you're not going to have any issues, but just know that that's an issue.
Speaker 2:The other one, too that RJ and I disagree on sometimes is earnest money. They're really coming down hard on that as well. So meaning, if you have a $10 or $100 earnest money, it doesn't look good on you if you're not really committing to the deal. Now I get not putting earnest money down until after the inspection because of because of release issues with title companies. So I don't ever want to put earnest money down on something I haven't seen. So I'll just explain to the seller look, the earnest money will go into escrow after we've done our five day or 10 day or whatever. You know that. Then we'll put the earnest money in.
Speaker 2:But I like to. I like to use earnest money in, but I like to use earnest money as a strategy to outperform competition. So when you talked about looking at the other contracts, I'll say what's their earnest money? Oh, that's interesting. 10 bucks or nothing, 100 bucks. I say, look, we'll commit to the deal, we'll put down 2,500. We'll put down 5,000 and we'll make it non-refundable or we'll let it go hard after we've done our due diligence. So just those little things that can give you a competitive advantage. Earnest money can be used as one of them. So, anyway, that's just it.
Speaker 3:Okay, a couple of questions on that One if the contract or the inspection period running the length of the contract is a point of contention, what is the preferred amount of inspection period, timeline?
Speaker 2:Well, for me, if I can't dispo a deal in 10 days, then I probably don't have a deal.
Speaker 3:I'm not saying for you, I'm saying for whoever these magical people coming after us what?
Speaker 2:do they want. Oh, so the way they look at it is fair and reasonable. How much time should it take you to get out to a property, do a walkthrough and do an inspection? What is a reasonable timeframe to schedule somebody and all of that? So if you have a 45 day close and you have all the way up until 45 days, the argument on the other side would be look, does it really take you all the way 45 days to do an inspection? That doesn't seem very. That doesn't seem reasonable. If you have a two-week closing, maybe you do have a two-week inspection because you got a scheduled contractor to get out there or an inspector or something. It's just. Does it sound and seem reasonable if it were to go before a court or somebody where they think it's fair, okay.
Speaker 3:So there is no rule to answer your question. That's my, that's my issue with that is like when we have people wanting to treat what we do like it's retail real estate and it's not one, there's not a real estate agent that is representing them that would tell them this is how this transaction is supposed to go down. There are times where we are dealing with squatters, tenant occupied properties where the seller does not want to tell the tenant. We're dealing with vacant properties that are borderline teardowns, access issues out of state sellers. There are a lot of things that go on. I mean doing due diligence on a property where new plumbing, electrical, down to the studs. That's a lot of due diligence that has to take place. And a lot of times when we're doing this sight unseen to say, well, a reasonable timeframe for us to be able to do this would be 10 days.
Speaker 3:I disagree. I mean that's where it becomes an issue, where it's like so if we're going to make an industry standard in all of real estate transactions where we go under contract and we say this is how long you have for due diligence, then let's do that across the board, even on retail. But we don't do that Even in retail. This is still a point of negotiation that even in retail this is still a point of negotiation, so I don't know.
Speaker 3:I I hear about up to the end of the the contract, but again, they're still not a fair and reasonable. Now on the earnest money deposit, it's the same thing. It's always negotiable. I mean again what this is like saying if I down $10 in earnest money and you put down $2,000, who's the better buyer? You are right. But what if I'm willing to give the seller $25,000 and you're willing to give $20,000? Are they supposed to go with you because of your earnest money deposit? It's all negotiable. That's the reason why we're negotiating these terms in the contract. So again, I would feel like, instead of coming down state by state and coming up with these like hey, you can't do assignments, you can't do this because they're pointing to some of these hey, inspection periods running the length earnest money deposits, why don't we just come down and say this is what, this is how long due diligence periods are, and this is a 1% earnest money deposit on every real estate transaction? At least then we would all know the rules. So then they don't leverage something.
Speaker 2:It'll probably get to that. I mean, I think it's getting there. I mean, jeff Watson says it should be $500, and that's what, of all the attorneys and all the cases he's dealt with, that's what everyone seems to think is reasonable. Earnest money is at least $500. But but again, you know, I I get it where you're coming from from.
Speaker 2:When I'm on the opposite side, like when I'm doing a flip and I'm I'm now selling to a retail buyer, I almost will never let them go past 10 days on inspection. And I argue it hard. I'm like, look, I'm going to lock this up, I'm going to take it off the market, I'm going to go pending. And I know you need to hire an inspector and do a full-on property inspection. That's not even what we do, but that's what retail does. I said you should be able to get that scheduled and get that done in 10 days. I'm not going to go pending longer than that on an inspection. You should be able to do that and I argue that point really, really hard. So I mean, what can't you figure out about a property in 10 days?
Speaker 1:I think the big issue is we're professionals and these sellers haven't sold any houses and so they go. You're taking advantage of these people because you know how to negotiate these deals. You know how to do it. You're locking them all up and it's all in your favor because you're a professional. They don't have anybody representing them. They don't have any legal representation, they're just signing stuff because they're trusting that you're going to get the job done.
Speaker 2:They don't even read the thing. They don't even know what EMD is. They don't know what inspections are. They don't even know what they're signing. Yeah, that's the argument. I'm not saying that's true.
Speaker 1:And so the states RJ are saying well, we'll just give them the get out of jail free card. They can cancel the contract at any time during it. Doesn't matter if you spent $1,500 on a full-blown inspection, doesn't matter if you are going to buy this property or you're going to wholesale this property or whatever else. It doesn't matter what your strategy is. You're the pro, they're the amateur, you're taking advantage of them if you have an inspection period for the whole time and they can't wiggle out of the contract and we can put memorandums on it. That's, I think, the issue. Yeah Right, throw us out there.
Speaker 3:Yep, it's the most glorious thing that will ever happen to us, because what's going to happen is, yep, these sellers are going to end up in a position that need us, mm, hmm, and what's going to happen? We're going to end up in a position that need us and what's going to happen? We're going to have to buy deeper because of what's being brought down on us 100% People that they are trying to help. They are going to end up hurting.
Speaker 2:Yeah, it's going to hurt the very person they're trying to protect more than anybody Absolutely.
Speaker 3:Yeah, we will look back and we will say I used to do 100, 150, 200 transactions a year. Now I do 20, 25, and I make the same amount of money.
Speaker 1:So this is coming to you, jerry. Joseph Young asks how many agents of the ones you call on a day-to-day are investor-friendly.
Speaker 2:I don't know, because I don't run into disgruntled agents that hate wholesalers, because I know how to talk to them in a way to where they feel safe with me, they feel confident that I'm going to perform. I mean, if you're running it we've talked about this on this show before If you're running into an issue where agents are hating you because you're a wholesaler, you didn't present yourself very well and they had a bad experience with a wholesaler, for you didn't present yourself very well and they had a bad experience with a wholesaler they're assuming all wholesalers are flaky and your number one job is to overcome that objection. You have to help that agent feel confident that you're going to perform and you're going to get to the finish line. When they don't like investors it's not that they don't like investors. They don't trust you to get to the finish line and they're just conveying that to you.
Speaker 2:So you need to go back and look at what are you saying, what are you doing? How are you carrying yourself? What's your energy? What's your? What's your? I would, I would listen to your scripting or your conversation and I could probably pinpoint hey, this is why they don't have confidence in you. You're, you're, you're coming across this way, or you're saying these things, and so now you're bringing forward or you're bringing to light this objection. They have that you're. They don't have confidence in you. That's why that's coming up.
Speaker 3:All I go back real quick I would say on that is this is no different than what Jerry just said. If you call a seller and the seller says, are you a wholesaler? Yes, is that a problem? Is that a problem? Why is that a problem? Massive opportunity for you to gain credibility and close that deal. If an agent asks you, are you a wholesaler? They say that they're not investor friendly, whatever that means, it's a massive opportunity for you to come in and explain why doing business with you is completely different than whatever previous experience they had give them a little game rj.
Speaker 1:What do you say to them? What do you say to that agent or that uh, you know friend of the family that has heard about wholesaling or has been burned, or or a property owner that's been burned by a wholesaler?
Speaker 3:before. Right, you know what's amazing about almost every scenario and how you overcome it is by not saying something. It's by asking If, Brent, you had a horrible experience with a wholesaler, I would ask you what was that horrible experience? What would that wholesaler have done different for you? What do I need to do to be the wholesaler that earns your trust? You will tell me everything that I am supposed to say. I don't have the script to tell you. You do, yeah, one that had the problem. So tell me the problem and then I will present the solution at that point. That's how you overcome it. It doesn't matter agent, seller, anything in business. Almost every time that someone has a problem, it's followed by 10 questions, one sentence that's wrapped up on their 10 responses and then it's game over.
Speaker 2:Yeah, I'll say to them. I'll say when you say wholesale, do you mean, do we sometimes assign our contract? Yeah, we do that all the time. Why is that a concern for you? Yep, Just what RJ said. Yeah, we do that. Why is that a concern?
Speaker 3:Because someone terminated my deal. This guy named RJ wrote up a contract for a 30-day close, a 30-day inspection period and $10 earnest money. He terminated the day before. What a jerk. And they're like? Well, my name's RJ Bates III, right sir, and I don't do that.
Speaker 1:Do you do, rj? Do you wholesale cash and creative deals or just cash deals?
Speaker 3:So we do creative deals as well, especially seller finance. I'm going to do a lot more seller finance than I would do sub twos. However, we have assigned some sub twos in the past. I've tried to stray away from that as much as possible because I do think it's something that is. I feel like there is going to be some heartache coming down on that pretty soon and I just don't want to be wrapped up in it. I don't want someone pointing back to you assigned this deal three years ago for a $7,000 assignment fee and it got foreclosed on and I didn't even know it happened or anything like that. So for me it's seller finance. Yeah, sub two, it has to be a very specific deal and also a particular buyer that I know. Like I wouldn't mind assigning a sub specific deal and also a particular buyer that I know I wouldn't mind assigning a sub two deal to Jerry or Brent for them, but blasting it out on InvestorLift and not knowing my buyer and whatnot, I'm very leery of that.
Speaker 2:Yeah, can I add to that RJ? So I have that concern. In fact I've had a couple come back on me because what happens is you guys have to understand when you wholesale a sub two deal down the road, if your buyer defaults on that loan and it gets unwound back to the seller and that seller sues guess who they're naming in the lawsuit? Yeah, everybody. They're going to name wholesaler, buyer, title company, agent. If there was an agent, they're going to, because a lawyer's job is to name everybody and let them all defend themselves and sort it out, right. So then you're just going to get sucked into a lawsuit down the road.
Speaker 2:And so one of the things that we do, rj is if our buyer is is borrowing the entry fee, which is going to be our assignment fee, closing fees, if there's an agent, a commission, any money to that seller, the total cash to get into the deal. If that buyer is using PML to fund that, we don't do it because now they're leveraged to the hilt. We only want to do it. If it's a real buyer that's got a real portfolio. They have the liquid funds to pay that fee. I feel a lot safer with that type of buyer than I mean we, we wholesaled RJ a deal to this kid that was like 22 and he had like 15 sub twos.
Speaker 2:He borrowed all the PML for all the money he was into them all zero down and I remember thinking this is a train wreck waiting to happen. And sure enough it was a train wreck. That happened, you know, and he ended up going dark, giving them all back. It all got unwound. Sellers are long gone out of the picture. Now they're getting foreclosure notices Like what a disaster. So you got to be careful with those for sure.
Speaker 1:Yeah, I like getting in and out. Just get in and out. I don't want to be married to a property owner that was losing their house. I don't want to be married to a property owner that was you know, maybe they have this property and it's a good portfolio property that you know they don't want to sell because of tax reasons. And if I'm going to do a seller finance deal I'm going to keep it. I am. I'm not going to wholesale that I mean unless it's somewhere crazy, but for the most part, if it's a smoking deal, just add it to your portfolio if you're in a place to do it, if you have 300k sitting in an account. That's my rule, rj.
Speaker 3:you can't buy a rental unless you have 300k after taxes in an account yeah, hey, man, you have been talking about the 300,000 in your bank account almost as long as I've been talking about hedgehogs. I, that's right. People should know about those things.
Speaker 2:Rj, I don't think you probably run into sub two very much with PPL because the idea there is it's inbound distressed sellers. They're probably not upside down where they can't sell because of an existing mortgage.
Speaker 3:Yeah, I mean, it's rare in those circumstances and more often than not the situation doesn't call for it Like the other day when I went live with property leads. I talked to six sellers, set four contracts One of them was for sub two, but it was something that I was going to keep myself. I was not going to assign that, I was just going to keep it honestly, just to close the deal and show people that I could do it. Um, and and get your boy you know where. He likes to say I don't know how to do creative and be like oh, there you go, there's the video pace. I did it for you. So that was just more of doing that.
Speaker 2:But Brent RJ has at least 300 grand, so he's allowed to keep that one.
Speaker 1:Yes, and I want to make it clear here I'm talking about listen. If you want to be a full-time real estate entrepreneur I'm not saying if you're a dentist or a physician or you've done really well or you've got a successful real estate business or whatever else that's doing its thing are in your first few years of being a wholesaler flipper and you're doing this full time and you take your foot off the pedal to start building your rental portfolio, your active income will get destroyed. That's what I'm saying. You know what I mean. There's always-.
Speaker 2:Same with flipping, same with any other strategy. Yep.
Speaker 1:What are the pros and cons of getting a real estate license? You guys think.
Speaker 2:I'm a big fan of it because I think you're preempting what's coming down the line. I mean regulation. If there's not a bill in your state right now, they're talking about one or one's coming. It's just happening. And a lot of the regulation is around licensing Not all of it, but a lot of it seems to be. They call what we do brokering, and you need to have a real estate license. So me personally, I've had my license since day one. I've had it 20 years, I think. I make money with it even though I don't actively use it like a retail agent. I tell people get your license, you'll be ready when the regulation comes, and there's lots of ways to monetize it. I don't know. Disclosure is a big thing, but if you talk about it properly, if I don't know.
Speaker 3:Disclosure is a big thing, but if you talk about it properly, if you have it in your contracts properly, then you shouldn't have any issues. What's your opinion, Art? I haven't heard yours. I think the con on that would be the fact that you have to do the continuing education, that you do have to disclose that you're a licensed agent, that at times it can be leveraged against you by a seller.
Speaker 2:And it only applies in the state you're transacting, so nationwide would be impossible. Like you couldn't do it, right.
Speaker 3:But you know my partner, cassie. She's been licensed now for I think, eight or nine years. There's been times where it's been extremely beneficial for us. Like you said, we can monetize it at different points of time. I just think it comes down to what are you trying to accomplish in your business, like if I were right now. If I'm a wholesaler in Michigan, I'm not going to go get my license right now because I don't need it, but I'm going to keep an eye on what's happening. If there is a regulation that comes down that requires licensing, then yeah, I mean listen, it's 14 days of classes and pass a test. Okay, I mean, look around, it's not a difficult industry to get into, it's not a difficult license to get.
Speaker 2:So yeah, I agree.
Speaker 1:And it's not that expensive. What is the most unexpected insight you've had? Building a successful nationwide wholesaling business. Boom, dan's hitting you with the big guns, the deep questions, yeah, the most personal reflection, as you look into that mirror and see that beautiful burly beard, what, what twinkle in your eye, do you feel rj?
Speaker 3:I would say that the most unexpected is that the majority of people don't know about the opportunities and what they would consider rural markets, yep, doing deals in locations that it's like, man, this is a little honey hole. It's like becoming an expert fisherman and you just know like, hey, no one goes over there and fishes, but we do and we crush it. And that's what has really enlightened me. I I always use brent as an example. I say brent and I are literally the polar opposites. And brent and I have had this conversation, brent, he tells me I want to go super deep in phoenix. Yeah, I want to be the expert here. And I know it. And I get my deals and we know what the values are, we know what we need to lock them up for, we know who we're disposing to.
Speaker 3:And for me that did not fit my personality. And so going nationwide and then finding locations like some of these smaller markets in the Iowa's I'm using two states that I used to love Iowa and Nebraska. The regulations there have significantly slowed that down. But even using the South Dakota example, knowing that now I have a go-to person that could dispo in Cheyenne, wyoming, this is a place that there's next to zero competition. And then, just if you were to go around and you were to ask the influencers in this industry hey, should you wholesale? Here? The answer more often not would be no, whereas, for whatever reason, I decided to swim upstream and then realized that the answer should be yes.
Speaker 1:Yeah.
Speaker 3:And there's a lot of locations in this country that are just completely neglected and there's almost zero competition there you go um.
Speaker 1:There was a question here um sam. What if a property is under contract escrow and listed on the market? Is it possible to get a deal from that?
Speaker 2:jerry, go ahead so a property that's under contract, jerry um, well, no, if it's under contract, then you you have to wait till it falls out of contract. Um, if I'm understanding, yeah, correctly, but like you know what rj, I like to do what rj does, which is follow up with that seller, because more times than not, those contracts fall out and then you're sitting there at the right place at the right time. Seller's now even more motivated because they got strung along by a wholesaler who couldn't perform but listed on the market. So if it's active and it's pending, you got to wait until it's no longer pending and then you got to work with the agent longer pending, you know, and then and then you got to work with the agent. So the agent represents the seller. If that agent still has a listing agreement, you can't go around the agent to the seller. You got to work through the agent. So I don't know, brian, am I understanding that correctly?
Speaker 1:Yeah, I have a buddy Mark that he's in Houston and all he does, he does all of his marketing, his lead generation, is putting backup offers on pending listings, and the reason for that? Now most of them don't go through, but nobody. As soon as a property goes under contract, everybody ignores it.
Speaker 1:So, it's like when everybody's running towards the actives or they're looking for off market but it's still a smoking deal. On the MLS, I'm going to put backup offers with the hope, or just the proof, that a certain amount of these are going to fall out of escrow. And as long as I am pouring honey into that realtor's ear all the time, building a relationship, doing all these things one, they might bring me the next deal before it even hits the market. But two, if it does slip out because somebody's a knucklehead in there, he gets that deal and that's his whole strategy. So there is a way, sam, to be able to do that. It's a little bit more frustrating because you're going to lose out on most of the deals, but I mean, these are free deals, these are properties that are listed on the market and as long as you build a relationship with the agent and the property didn't get bid up too crazy, you can get some really, really interesting good deals by using that strategy, which nobody's doing, but follow the right process.
Speaker 2:you know contact the agent, be in touch. When it falls out you're there waiting, got a backup offering. That's how you get those deals.
Speaker 1:And communicate. You got to touch base with that agent every week, a couple times a week. How is it going? Just like RJ was talking about if he gets beat out on a deal or somebody offers more, you follow up with them, no matter what. And because a lot of these deals fall out, guys, a lot of these deals fall out, guys, a lot of these deals fall out. So just an interesting strategy there to go after the pending listings, putting backup off.
Speaker 1:Now listen, it's a lot of work because you got to use the realtor contracts. You got to be ready for the 1% earnest deposit. Typically, you got to have your ducks in a row when it comes to your proof of funds or letter of credit or bank statement or something like that. But you get all those put together. You put together a nice package and you cherry pick the deals that you know are really good. You can, you can do something really really strong there. Yeah, no, here you go, rj, do you double close? If so, how do you transparently set that up with the seller so nobody is unaware of what you're doing?
Speaker 3:Have I double closed? Yes, do I do it often? No, because it's just not necessary. I mean, more often than not, the reason why people would double close is because they don't want their buyer knowing how much money they're making. I don't have to worry about that.
Speaker 3:Now, as far as transparently setting that up with the seller, I can't remember a scenario in which I had to explain to the seller that I was doing a double close unless they wanted me to remove the assignment clause in my contract. And then I just told them you're forcing me to double close and you're making me offer you less money because now I have to pay my transactional funding and double close fees. So I just got to leverage it to be like just what. We already know what's happening. Uh, but I don't see a scenario in which I would need to tell a seller that we're doing a double close because it's just not necessary. Um, I in my my misunderstanding as to why, what the question is there? I mean, you guys correct me if I'm wrong, but I can't remember a scenario in which I've ever called a seller and been like hey, I'm doing a double close.
Speaker 2:Why would they care? Why would they care? You're performing on the contract. What's the matter?
Speaker 3:That's what I'm saying. I just I don't. I don't see why you would need to.
Speaker 1:And it's interesting you know if you're using. If you're, yeah, it's different. There's a difference between a double close and a double escrow. If you're bringing in your own funds to close it, that is a double close. If you are using the funds from your buyer to fund it, that's called a double escrow, and oftentimes the title company will disclose that to them and have them sign a disclosure at the closing table, depending on your title company, but most of them do. If it is a double escrow, just saying, hey, listen, the money is coming from the sale. They resold the property already. This is just a disclosure to let you know that. Yeah, yep, do you think? Let me ask you this this is my own question but if you have to, in writing, disclose how much you make on an assignment, do you think that's going to kill deals? No, why? What if it's $73,000?
Speaker 3:I assigned a deal to Chris Jefferson for $70,000. He didn't have a problem.
Speaker 1:He's a real buyer. No, no, no, no, no I'm talking about you have to disclose to the seller. That's what's on the table in a lot of these states is you have to disclose the profit that you're going to make. Have them literally disclose the amount that you're going to make, if it is an assignment and or an ovation, I've seen that on the table.
Speaker 3:Yeah, I mean I think it's going to significantly impact some of the much higher assignment fees. For sure You're going to have to get a lot better at closing, where the industry will get cleaned up real fast.
Speaker 1:Do you think that they should implement it?
Speaker 3:I have no problem with it. Implement it Right. I don't have an imaginary friend I have to problem with it. Implement it, I have no problem. I don't have an imaginary friend I have to go talk to. I don't have to lie to sellers to close deals. Sweep, sweep the sweep. The industry. Get rid of them. It'd be great to you. Sales go through the roof and I make more money wholesaling. So I have no problem. But I don't like the regulations right, because I don't. I. I feel like we could clean this up ourselves, but we're just not.
Speaker 2:That's what I've been saying for years. So if we're not going to self-regulate, they're going to do it for us, and all that means now is we adjust and adapt with whatever comes our way. But like guys, think about it. If a regulation passes in a state, what do you think RJ is going to do? Roll over and give up?
Speaker 1:No, he's going to figure out.
Speaker 2:okay, well, what do I got to do differently? Okay, I got to tell the seller how much I'm making. Great, this is an opportunity for me to overcome an objection, provide value, show my value. Now I got to show my value a little bit differently, or a little bit more. I got to explain to the seller why I'm at where I'm at. And you know, that's all just means you got to change the way you sell. That's it.
Speaker 3:Brent, let me ask you this You've been in this industry for a long time. Jerry has been there. He's industry for a long time. Jerry has been there. He's actually seen me do this. Um, one of these days I'll get you to come on and talk to sellers with me. I know you're busy, man, let's do it. It's just all the. It's all the curls you got to do and that's it.
Speaker 1:I gotta be in the gym most of the day.
Speaker 3:You know the hair is looking good. I just want you to know I listen you know, hair club for men.
Speaker 1:You just squirted on your scalp.
Speaker 2:It's amazing the art, me and rj. We don't want to comb our hair, so we just wear a hat mostly yeah, well, I don't have any hair to comb, but okay I've never seen you without a hat. Like I want to go to church with rj one time just to see what he looks like. It won't happen.
Speaker 3:but, brent, how many times have you seen someone in this industry flat out tell a seller I'm going to wholesale your house, I can give you 20 and I intend on moving this for 30 to 35, so I can make 10 to $15,000.
Speaker 1:Almost never.
Speaker 3:Never. I have many, many, many videos of that exact conversation going down Right and then the seller saying that makes sense. I appreciate that. Thank you for letting me know and what if it was?
Speaker 1:what if it was 30? What if it was 40? What if it's 60? What if it's 80,000? You think they'd be fine?
Speaker 3:I don't think so. I think that's what I'm saying. It would. It would significantly lower our opportunity to be able to make that much money but in another circumstance, or the other side of that is that a lot of our really bad competition would not be able to close any of the deals. So I think it would just be easier for us to get deals.
Speaker 1:Yeah.
Speaker 2:Because they would have to develop skill skills, I mean. But honestly, honestly, Brent, like as soon as you're crossing 10 or 15, you would just buy it and that if you're buying, if you're buying it, you don't have to disclose anything. You're buying it.
Speaker 1:Yeah, but I mean, I I think I think that you can have a conversation with a property owner and I think you could develop it that says listen, I've got a group of investors and they're going to pay me a lot of money for this house. They're going to pay me a lot of money and they might not, but I'm going to put it in front of them and they might pay me 50, 60, $70,000 for the right to purchase this property. Is that a deal breaker for us? If they pay, if this buyer pays me a significant amount more than I'm giving you, are you comfortable with that? Are you? Are you? I'm?
Speaker 1:I'm disclosing it right now. I don't know what I'm going to sell it for. I could sell it for a hundred thousand dollars, but I'm just telling you right now I've got this group of investors that I know that I've built relationships with and they might want to take this project down. They might want to keep it in their portfolio. They might want to flip it and make a profit on top of what I'm making. I'm just disclosing this right now. Are you okay?
Speaker 3:with that. So I love that, brent. My concern would be they back up the you have to disclose what your assignment fee is, but also giving the seller the opportunity to back out all the way up until closing Right. Because that's where a real issue, because at some point in time they're going to figure out who the actual buyer is Call them the title company or something and then that's where we would get snaked out of deals. I also just saw that now in the state of Texas, filing a memorandum can now get removed by a seller by filling out a form and explaining that it was an improperly filed memorandum. It got passed. There was zero negative votes for it. It was I haven't heard that. What's that called RJ? I don't know.
Speaker 1:I literally saw it like yeah, that's that's just the worst part about this business when somebody signs like a blank contract or something that's you know a ridiculous price and then files a memorandum for a shake just happened did you?
Speaker 2:did you? There are I didn't know this, um, there are wholesalers that lock up everything and anything like crazy. I'm talking like 50 contracts a month. Yep, they just file memorandums and wait and wait and wait and wait. They don't ever. They go dark, they don't, they don't talk to the seller again, they just wait, yeah, and then they negotiate with the new buyer on a 10k or whatever they can get. It's, it's crazy, it's absolutely crazy.
Speaker 1:Yeah they're coming for memorandums.
Speaker 2:Memorandums are going to go too. That'll be a thing of the past.
Speaker 1:We had a. We have a memorandum on a property right now and this poor seller, I mean it's like their back's against the wall. They need to close this thing now. So it's not like we're going to fight it, it's not like we're going to take them to court for the next year to get this thing removed. It's a memorandum. The purchase agreement is not filled out at all. There's no close of escrow day, there's no price. There's an address at the top and the signature of the seller and the buyer at the bottom.
Speaker 2:That's it. How is that a contract?
Speaker 1:that's it, with a memorandum on it clouding the title unreal yeah and title around it yeah right, you know who it is yeah I I know exactly who it is man, I I'll be honest with you.
Speaker 3:I call those people personally myself. Yeah, I don't know. I'm like do you know who I am like, dude, I'm not trying to flex on you or anything like this, but you're, you're literally the our issue right.
Speaker 2:Yeah, you're the scum of their you're. You're ruining it for everybody, like you are.
Speaker 3:And I let them know by point blank. Like dude, my kids rely on the money that I put on food on table from doing these types of deals and you're trying to ruin that. There are thousands of people out there that do things the right way and you, little tiny person, are the reason why we're being attacked. I hope memorandums go away. I despise memorandums. Little tiny person, are the reason why we're being attacked. Like I, I hope memorandums go away. I despise memorandums because one we don't file them to.
Speaker 3:Every time I've ever seen one filed, it was illegitimately filed. It's like you weren't prepared to close. You were not prepared to close on every single contract that you had under escrow. At that point in time you didn't have the funds. You didn't submit the funds to escrow. You don't even know what a memorandum is. You didn't know what you were doing. You just literally filed it so you could hopefully get paid by me when I actually go dispo this thing yeah, that's, that's a big one, that's gotta go, yep yeah, it's crazy and it jerry, it's by the group that's investigating has the huge investigation.
Speaker 2:Oh well, that makes sense now. Yeah yeah, and those guys are freaking horrible.
Speaker 1:This is the worst but what do you do? You've got a seller that has to close this like literally has to close this at the end of the month can't you move it to schedule b and close around it? No, not here in arizona, not not with the title companies we're working with I thought david olds about it.
Speaker 3:I'd call david olds and be like hey, fine, we sellers got to get this old.
Speaker 1:Tell me how we get around it yeah, but then it goes to the buyer and the buyer goes to flip it and then it pops up again and then it just turns into a nightmare down the line. I mean, it's not going to remove it.
Speaker 3:Yeah.
Speaker 1:You know, I don't, I don't want to stick my buyer with it, I don't want to. So it's a shakedown. I mean it's a gross.
Speaker 2:Here's what I'm teaching now about this. So I very rarely get backdoored by my buyers and very rarely do sellers go around me to my buyers. That's maybe happened a handful of times in 20 years. The reason why is because I communicate really well with my sellers. I build trust with them. They like me. They don't have any reason to go around me.
Speaker 2:If you're getting backdoored a lot, it's because you're not communicating well with your sellers and you're working with some douchebag buyers. I don't have buyers that do that because they want to do business with me. They don't want to cut me out of the deal. Why would they do that? That's not smart. So, guys, if you're running into that, you're just doing business wrong for one and two. The second reason why is there is not a story you can come up with that's going to look good in front of a litigator or consumer protection agency or anybody about why you have that memorandum. If a seller wants out of the property, let them freaking out of the property. Don't hold it over their head Like just let them go, move on, do another deal. It's not worth it. When channel seven news is on the front lawn, you're going to look bad.
Speaker 3:You're not going to look good and, on that note, when you talk about your buyers, don't go around you. Someone asked earlier talk about, uh, your buyers, don't go around you. Someone asked earlier what's the difference between rj and brent's dispositions? There is no difference. Our method is is that we build relationships with our end buyers?
Speaker 3:Yeah, the difference is brent by or builds a lot of relationships with his end buyers in phoenix because he's doing volume there and so at some point in time I mean, yeah, I mean everybody can sell deals as that keeps.
Speaker 3:But at some point in time you got to be like, hey, I got to have different buyers because I'm doing so much volume in Phoenix, Whereas for me, if I'm only going to do four deals in Phoenix, I really only need like one or two end buyers there that I'm building a relationship. So the only difference there is is that I just have to build less relationships in a market than, say, Brent does. But going back to what Jerry was just saying, if you're worried about your end buyers going around you and staking a deal either one it's like your first time trying to dispo a deal on the market, you don't know anybody but two your seller should also come back to you because they respect you and you have enough rapport where they say, dude, whoever you just sent out here tried to steal the deal from you, Because that has happened numerous times. And then that's when they get blackballed and they're out of InvestorLift and out of InvestorBase and all that.
Speaker 2:Yeah, I would add to that. One of the methods I teach is how to find a buyer, and you really don't need a list to find a buyer. You just need to find who's active in the neighborhood that's transacting in the past year. Talk to 15 of those people. If you've got a deal, one of them's going to want it. You don't need a list.
Speaker 2:What's different about a market-specific wholesale operation like Brent and I've got a couple like that is, since you're in that market, you want to build a list, and the bigger the list, the more people you can take your deal to. And so what Brent does is he doesn't wait until he has 10,000. He wholesales and he builds his list as he goes because he's in that market the whole time. So he's always building that list, whereas when I virtual, I'm not ever worried about building a list. I just know once I get a good deal, I know how to go find who the active buyers are in the neighborhood and that's who I'm going to start first.
Speaker 2:If I can't find one of those guys, I'll spread out a little bit. Sooner or later I'm going to talk to somebody who's looking for a deal in that area. So I don't buy this idea that you have to have a list before you can wholesale a deal. No, I don't buy this idea that you have to have a list before you can wholesale a deal. No, you don't. You just need a deal and you need to know where to find the buyers, and it'll take you one day of calling everybody and you'll get your deal moved.
Speaker 1:Facts Yep, how big is your Dispo team RJ? Two people and they're just, are they? Is it divide and conquer acquisitions, lock it up and then Dispo just takes one, or do they both try to get the deal sold in the same market?
Speaker 3:They do their own acquisitions and their own dispositions, unless it's a JV deal or someone else brings us a deal. Like, for example, if I go lock up four contracts or Cassie does, or whatever, but just those two guys TC me, cassie, that's it. Those two guys are doing their own acquisitions and dispositions. The reason why is so? That way they can decide like, hey, I want that lead in Detroit because I know my buyer's ready to go Boom, lock it up dispo, just like what Jerry's talking about Instantaneous dispo. So then it's right back to acquisitions awesome, howard says.
Speaker 1:Been working with a buyer for three weeks. They ordered two inspections but ended up passing. He said he has someone who wants it but he wants four thousand to recoup his cost in time. Should I assign it to him?
Speaker 2:hell no. Why are you talking to that guy?
Speaker 1:Yeah.
Speaker 3:I don't know. I have a different train of thought on this. All right, jerry Howard's asking this question because he's been working with his buyer for three weeks. Sounds like the buyer is actually a Daisy chainer. All right.
Speaker 1:Yeah, a hundred percent.
Speaker 3:Right, yeah, we all see right through it, but it's been three weeks. This means Howard's contract is probably coming to the end. What's the most important thing here? The seller. So, at the end of the day, howard has a lesson that he needs to learn, one you don't work with a buyer for three weeks. Yeah Right, buyers do their own due diligence before the contract gets assigned. You never stop doing dispositions until you have a deal assigned and a non-refundable earnest money deposit.
Speaker 3:But my thing right now is, with everything that we've been talking about tonight, sounds like Howard's in a predicament. If he doesn't assign it to him, who's he going to assign it to? So what?
Speaker 2:is that guy? Is that guy going to perform?
Speaker 1:I mean, that's my worry is like yeah howard, do you have non-refundable earnest on this? Yeah, let us know, because maybe he does, maybe they're just you know it's been, they've been doing some inspections or something else. But I'd be curious typically if, uh, if they haven't put anything down or yeah, given, given any cash buyer three week inspection, peers bananas.
Speaker 2:So I think RJ's point is if this guy can perform, he just needs more time. See it through, maybe negotiate down, because you got to protect the seller. What you don't want to do is have the seller get hurt in this situation. But you better find out if that guy's legit.
Speaker 3:Well, what he's saying is that buyer that he's working with is not going to buy it, he's assigning it to someone else and he wants to make $4,000. So what Howard needs to do is get on the phone with the actual end buyer and ask the end buyer one are you willing to put down $5,000, $10,000? Non-fundable Indy? How are buyer one are you willing to put down five, ten thousand dollars non-refundable indy? How are you funding this? Is it hard money, private money, cash? Where's your proof of funds? And then, can you perform on the actual closing date, because I can guarantee you that closing date is coming up yeah, legitimize your buyer is the point.
Speaker 2:No, I don't. So you're. You're dealing with a flake. Yeah, so howard you should not be. You should not be talking to someone for three weeks who can't put down non-refundable earnest money. You got to find a real buyer. Yeah, Howard.
Speaker 3:Get on the phone with the actual end buyer, do a three-way between this joker and the actual end buyer and ask the end buyer are you willing to sign an assignment, put down non-refundable EMD and how are you funding the project? And if it's a hard money loan or private money loan, you actually need to know are they approved? If it's a hard money loan, who is the hard money lender? And call that lender and verify that they're actually approved to close this deal and that there's time to close it and that there's time to close it yeah.
Speaker 1:Yes, yeah, there's time to close it and that there's time to close it, yeah, yes, yeah, I mean, if you're not getting non-refundable earnest.
Speaker 3:You don't have a buyer. No, I mean, listen, the guy can go do all the inspections he wants to do in this meantime. Yep, but you still work the dispo.
Speaker 2:You don't ever stop yeah, I think that's a good lesson too. Like Howard, when you started this conversation with this flaky buyer it's a wholesaler Did you stop this bow with everybody else and be like oh, I got my buyer, he just needs time. That's RJ's point. Never until you have an assignment contract with non-refundable earnest money in escrow. You don't have a buyer yet. You got to keep working your deal.
Speaker 3:Brent, can I answer AJ's question?
Speaker 1:Absolutely, I'll find it, you go, it's just a few up.
Speaker 3:If the market pays the most money, why do investors wholesale? Why don't they just do novations to increase the spread? I love that. So, aj, one of the things I want you to keep in mind here is that we make our money by solving sellers' problems and providing equity to our end buyers. That is what we do by nature as wholesalers. Innovation is a tool. That tool cannot be used for every problem. If a seller calls and says I need $20,000 and I need this deal closed in two weeks, innovation is not the play. The other reason why you would not do that is because novations are not as simple as saying I'm going to do a novation, I'm going to just go list the property and it's magically going to sell for what I thought it was going to sell, and there's no negotiations or anything like that. People like to think it's that simple, but there are issues that come up with novations. There's a reason why I did zero of them last year and I don't feel like I lost any money, because what I do on the wholesale side we have become great at that. Now I could be good at wholesaling and good at innovations, but in the meantime, I would be living a very stressful life. I've done that. I did that for years.
Speaker 3:So I tell people all the time it isn't always about how much money you make. Just do deals, you're going to make plenty of money. All right, you try to monetize each and every lead for as much as you possibly can. But with that, the amount of money that you make comes with additional responsibilities, additional work. There's a there's a novation that's going down right now inside of TU that I was a part of. That I actually brought on Travis Wells to do. It took him an entire day. He had to interview 10 agents to find someone that understood innovation and was willing to do marketing to get this deal moved. It took that entire day in those 10 interviews to find the agent that can find the one buyer that ended up buying that property. There's work that comes along with making money. It's not as simple as saying let's do a novation. It's got to solve the seller's problem and also you have to do additional work that comes along with that and it has to qualify for a loan.
Speaker 1:Oh yeah, that too. These aren't cash sales guys. To do a novation? I mean you could do a novation on a cash purchase. I suppose I don't know why you wouldn't just do an assignment. It's basically you know the same thing, except for you're replacing one contract with the other, but the with innovation, it has to be. The property has to be livable, it has to be in decent condition for the bank to take a risk and get a retail buyer. That's why you do novations because of the condition of the property.
Speaker 2:Right and so, um, occupied too, and yeah, but I agree, like man you, you better know how to communicate with that seller all along the way. Everybody I know that does novations has a really high contract fallout rate. We've had sellers come back when they find out how much you're making and they're they it. You just got to manage. There's a lot of seller expectations to manage and I very few people manage that well.
Speaker 2:I'm good friends with Rich Wonders. He's really really good at it. If you JV with Rich Wonders, here's how good they are and how much they think you'll screw it up. They don't want you talking to the seller and trying to negotiate it. You don't get the deal and then bring it to him because he knows you're going to screw it up. Instead he says bring us the lead. If you think it's a good novation type deal, let us sell the seller on it. You get out of the way because you're going to mess it up. We'll do it.
Speaker 1:And then we'll give you something at the end when we're done, because they just know that most people are going to screw it up. Yep. So yeah, and listen and I'll say real quick uh, historically in phoenix we make more wholesaling off market to our list than we do putting a wholesale deal on the market, even if we closed on it, even if we didn't close on it, and it's in our contract, we could put it right on the mls. We can. We can list it. We could do. We didn't close on it and it's in our contract, we could put it right on the MLS. We can, we can list it. We could do all those things. We make more with it being off the market. There is something about my normal.
Speaker 2:That's not normal. That's I know.
Speaker 1:I know it's crazy, but there's something about the the mystique of having a property nobody else knows about here. It's it's the truth. I think your, your guys, is um. You know, we got a strong.
Speaker 2:Yeah, oh my gosh, yeah, and you're. You guys, you know we were talking earlier about uh, about uh, caldwell, yeah, I mean like there's some phoenix is next level. I mean it's just a whole nother ball game there. That's that pro level.
Speaker 3:The other thing I would say about novations, Jerry, you brought it up about the transparency and the direct line of communication with the seller. I think the way that you pitch a novation is extremely important under making sure that the seller actually knows what they're signing up for. And, honestly, my pitch for a novation is very simple I explain to the seller we're going to do what's called a novation. You mean you just tell them.
Speaker 2:You just tell them what's in commonplace in the industry.
Speaker 3:It's really awesome. I'm a wholesaler. I'm going to do what's called a novation. I would like to buy your property subject to the existing mortgage. Would you like to become the bank that's called seller financing? It would be amazing. I think. Less regulations we really just hit them right in the kneecaps where they say we don't come out with the transparency if we just did that.
Speaker 3:And on the note of going back to the Novations, I think if you explain that to the seller upfront, like Cassie said there on Carlos' deal that got transferred over to Novation, it was originally a cash deal. The reason why it was so powerful because, again, it's a tool the seller thought he could get more money for the property and so what we told him was how much do you think you could get? And he said $600,000. And we said, all right, we're going to list it on the market for $600,000. But the market's going to tell us what you could get. And here's what we want to make. We want to make X amount of dollars. And he said, all right, let's do it. The offer came in.
Speaker 3:You reversed novation and it ended up being like a 400 something thousand dollar offer and his feelings got hurt. But he sucked it up after about six hours of digging about it and he said let's do it. The market dictated what we were going to get and you subtracted out your fee, and that was that. Yep.
Speaker 1:Yeah, Awesome, yeah. Guys, that's the show Jerry. What do you got going on this week? Guys, that's the show Jerry. What?
Speaker 2:do you got going on this week? This week, what do I got going on? Nothing much this week. We're getting ready here in a couple weeks to do a training here at the farm, so it's going to be fun. We're going to have, I think, about 20, 25 students come out for a couple days and do some training and have some fun. So it'll be the first Tennessee version of that. I do those a couple times a year, but uh, yeah, that's what YouTube?
Speaker 1:what YouTube videos do you have coming out this uh week, jerry?
Speaker 2:um, I'm doing some. I'm doing some live seller call breakdowns. I like to do that. What I what I do is, um, one of the things I like to do anyway is is call, audit my own, my own call and then break down like, okay, here's what I said, here's why I said it and here's the reasoning behind it. Now let's go to the next section and sort of go through it like that. People really like that. I think it's good to just listen all the way through. Someone like RJ do that. It's another thing to have them go back and explain their reasoning behind why they set it up that way. So yeah, awesome rj.
Speaker 1:What do you got going on?
Speaker 3:uh, I got my live tomorrow at 222, like we do every other every tuesday. Dude, today today, that because you guys invite me on it's today's video I said last time, today is, uh, I believe, my 505th straight day of a long form YouTube video.
Speaker 2:Incredible.
Speaker 1:Um absolutely incredible.
Speaker 3:Every, every single day, there's something going out. Um, I I just I'm so excited for where we are right now headed as an industry. I mean as much as there's negativity around the regulations and all of that. I see technology improving, so there's going to be an inflection point here where I see that the regulations do hurt us initially, but with the advancements of technology, ai and different things coming in on board, especially in the PPL realm, I'm excited for where we're headed, and so I'm just extremely passionate about sharing the news about it being the golden age of wholesaling. That's what I'll leave with.
Speaker 1:Awesome guys. If you are not subscribed to Jerry's or RJ's channel, make sure that you do that right after the show. I'm doing a live show on Wednesday at one o'clock Eastern Standard Time. That's what we do. I don't know what the show is going to be on, but it's going to be absolutely incredible, so join us. This week we got some great podcasts dropping in on the Brent Daniels YouTube channel as well, so definitely check that out. And if you want 365 days a year of incredible real estate instruction and training, the Wholesale Hotline podcast comes out seven days a week. It's Jerry, it's Jamil, it's Pace, it's myself and incredible co -hosts that we bring on. So definitely check that out. Go to Wholesale Hotline on any of your podcast providers and we are out, rj. Thanks for being on here, brother, yeah thank you.
Speaker 1:RJ, you're the best, love you man, see you guys. Or just say squad up. So squad up and enjoy the show. Yeah, yeah, okay. So squad up and enjoy the show.
Speaker 2:Yeah, yeah, ok One two, three, so squad up and enjoy the show. What?
Speaker 3:are you doing? I didn't say that thing. Why I didn't know.
Speaker 2:I forgot. So squad up and enjoy the show. Cool, I think we should use the one where Jameel doesn't say anything, yeah.