Why Small Real Estate Deals Can Change Everything!

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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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Chapters

• 0:00 Introduction to the Iowa Park Deal
• 2:02 Working with Braden and Abby
• 4:32 Meeting Claude and Building Relationship
• 7:22 The Tennessee Deal Success
• 9:54 Inherited Property Seller Call
• 16:32 Negotiating and Closing the Deal

Transcript

Speaker 1: 0:06

Welcome back to another deal review. Today we're going to be talking about how we made an itty bitty, tiny little assignment fee in Iowa Park, texas, but how that's irrelevant because of the next deal that we did, because of this one. Now I talk to you guys all the time about the importance of establishing a relationship with your end buyers, but I think we're still not giving it enough attention and we're not establishing those relationships truly. See, we still talk about what's your buy box and that's not what I'm saying about establishing a relationship with your end buyer. So there's going to be a live seller call at the end of this video. All right, now I want you guys to pay attention to that, but that's going to come after I rant and rave about what happened on this deal.

Speaker 1: 0:55

So about a month ago, I got about 30 or so leads from property leads and I went live and I spoke to sellers and I got four signed contracts and I come out of my office and I'm feeling myself and my team, you know high five. Great job, rj. All right, yeah, king, closer, always locking up deals. And then they were like but seriously, rj, you locked up four contracts and we already have our own deals to dispo. We're already working on these over here and you just stacked on four and see, we've got this flow that goes on. Because see, the guys that do dispositions, they're dispoing their own deals that they acquired, they're dispoing their own deals that they acquired, and so they're like man, is there any way that maybe we get JV out one or two of these deals? I'm like, all right, all right, here's what I'll do for you.

Speaker 1: 1:58

Iowa Park, texas. We've never done a deal in Iowa Park. In fact, I had never even heard of Iowa park, texas prior to this lead. I found out it's just right outside of Wichita falls where we had done deals. It's not like we have a known buyer for Iowa park. So I was like listen, braden and Abby inside of titanium university. They're great at this point. Deals all across Texas, great feedback inside of the university. We've never done a deal with them. We've known them literally. We met them one year ago at Kylo's event in San Antonio. So it's like why don't we reach out to them and have them do the dispositions on this deal? So I do.

Speaker 1: 2:42

Braden and Abby were such a joy to work with. I'm so proud of what they've built in their wholesale operation over the past 12 months. And listen, I reach out to Braden. I'm a horrible JV partner. I'm like hey, bro, lock this deal up. I don't have pictures, I ain't got nothing. Here's the address, here's the numbers, here's what I saw Sling it. I would not pass my own criteria to be a JV partner. I can promise you that. All right, but Brayden and Abby were awesome to work with and they start doing their thing right. They send this out to their buyers. They're working it. We get showings, we get offers, but all of the offers were just slightly below what I locked it up for and I'm like well, I mean I can go back and renegotiate. But Braden was like not yet, not yet, let me keep working this.

Speaker 1: 3:42

Now the thing that happens when you do rural dispositions is that the known buyers in that area they know they're few and far between They've got you out leveraged. See, this is what makes rural dispositions difficult. It's not that there aren't buyers, there's almost always buyers. It's the fact that they can look at you and say you need me more than I need that deal. In fact, I can just sit back and wait for you to terminate that deal because I know I'm one of three buyers in the city and I can go get it. So you're out leveraged, unless you're a part of a community where you can get the buyer that they never even knew existed, which is what Braden and Abby did here.

Speaker 1: 4:27

They went up to Canada to get old Claude from Titanium University. Now he's a known buyer. We know that, and it made me laugh when we assigned this to Claude because I was like of course he buys this deal. I should have known he would buy this deal. However, the reason why I didn't know Claude would buy this deal is because I hadn't built that relationship with him yet. I knew he was a buyer, but we hadn't really had that conversation yet about what is he trying to do inside of his business. So Brandon and Abby send the deal. He takes it boom, signed assignment, does his inspections, earned his money, deposited it closed and funded, I think Monday of this week. Okay, so done deal.

Speaker 1: 5:14

However, right after the assignment signed, claude hits me up and he says hey, man, looks like we got our first deal under our belts. What else do you got cooking Literally one of the best things you could ever hear from an end buyer, right? So Claude and I hop on a phone call and we start really talking about his business. Now, this isn't how many bedrooms and bathrooms and square foot are you looking for. It's talking about how are you funding these deals? What's your exit strategies? Why are you doing this Like really getting to understand what is he trying to accomplish in his business? It's not about us as the wholesaler. It's about finding out what he needs so we can produce that for him.

Speaker 1: 5:59

So from this little tiny $2,500 assignment in Iowa Park, texas, I find out exactly what Claude is needing in his business and what he's looking for. One of the things Claude was looking for was a new funding source because he is in Canada and so funding these deals in America does come with some little hurdles that he has to overcome. So I connected him to another titanium university member, jeremy Demers, who is a lender, and they started having great conversations and they came up with a lending package for him and a plan on how he can succeed. Which what does that do? They gave him more money. The other thing is, I found out exactly what Claude's looking for, and the Iowa park deal really wasn't what he was looking for. It was just kind of the price point and getting below current market value and he feels like there's a spread that can be made there. So it's an okay deal. But Claude likes to make more money.

Speaker 1: 6:58

So we start talking about this, and I know he loves to do wholetails, I know he loves to do creative finance and I know he loves land. But the next deal that my acquisitions team got was in Tennessee, not nowhere close to Iowa Park, texas, nowhere close to say, bedroom and bathroom, counter, square footage or anything. But it did meet what Claude was looking for in a deal, and my team knew that. Why? Because I relayed the information from my conversation with Claude and said hey, team, this is what Claude's looking for, let's go get him some more deals. So, funny enough, our team chat goes off hey, tennessee just signed the contract. Boom, great job. Touch 80 and flex yeah, we're number one. Simultaneous to. While that's happening, I'm watching a hockey game.

Speaker 1: 7:53

Claude sends me a text message. He's got a question. I shoot him a response and I let him know hey, apparently you are about to buy a deal from us in Tennessee. And he's like oh, am I? I was like yeah, here's the address, here's the numbers. Claude's like let me look at it. Boom, he had three questions something about the park across the street, the lot side, hoa, some just random questions. He tried to negotiate. We went back and forth a little bit of give and take. Boom Done Signed an assignment, earned his money deposited, and we're going to close later this month. Now we're going to make a lot more money than the $2,500 we made on Iowa Park.

Speaker 1: 8:40

Here's why this is important, though, because it's not even about this one deal in Tennessee. It's about the relationship that I now have and all of the deals moving forward that I'm going to do with Claude, and Claude is great as an end buyer about building relationships, but as a wholesaler, you have to be willing to accept it. The other thing that you have to be willing to accept at times is that the deal that you got under contract only warranted a $2,500 assignment fee, so maybe the next one could be a $10,000, a $20,000, a $50,000 assignment fee. You earn that during the acquisitions phase, not during the dispositions phase, because your end buyers are going to tell you what they can do and why, and you should understand that during acquisitions. This is why we preach. It's not about a maximum allowable offer. It's about understanding where your end buyers buy and why and how you can continue to produce results for them. That is how you build a sustainable wholesaling operation.

Speaker 1: 9:52

So you guys can watch the seller call now. It's about eight minutes. It's a pretty decent call. But at the end of the day the most important thing was this lead and this contract led to me getting a deal done with three different titanium university members Brandon and Abby check first. Jv done deal.

Speaker 1: 10:14

Claude first deal bought from me and it warranted the conversation where Jeremy now gets to fund a vast majority of Claude's purchases moving forward. That is a win win, win win situation. Jeremy won, braden won, claude won and the seller won in Iowa Park and you're going to hear this is an inherited property. It was an emotional experience for him so I'm happy that we were able to help him out. And now a deal in Tennessee where a gentleman is financially distressed he's having a lot go on with his life is getting a win done there. We're going to make more money and Claude gets another deal and Jeremy gets another loan. That is how you win when you run a wholesale operation. So enjoy this live seller call. Show me some love in the comments, make sure you like the video. We'll see you guys on the next one. Enjoy this call, hello.

Speaker 2: 11:15

Hello.

Speaker 1: 11:16

Hey, is Donald there? This is Donald. Hey, Donald, this is RJ Bates calling about your property there on Ruby Avenue. Look like you filled out a form on my website saying that you were looking to sell that property. I did Awesome. How much were you looking to get for that?

Speaker 2: 11:35

I don't know. I was going to wonder if you probably just had to look at it and see what you think.

Speaker 1: 11:44

Okay, you didn't have a number in mind.

Speaker 2: 11:47

Not particularly. It needs remodeling.

Speaker 1: 11:53

Okay, what all needs to be fixed up on it?

Speaker 2: 11:59

The roof.

Speaker 1: 12:01

The bathrooms are redone bathrooms have been or they need to be. They need to be so like just cosmetic and then a roof. Anything else?

Speaker 2: 12:17

major system wise uh, probably, I probably just need a complete remodel. I would think.

Speaker 1: 12:29

Okay.

Speaker 2: 12:30

Including like electricity and plumbing, or is that functional? The electricity's fairly good, it's actually. I think it's still on. I think it's still on. Yeah, the electricity's good, the plumbing's really, really out of date.

Speaker 1: 12:48

Gotcha, so it needs a lot. Yes, sir, Is it vacant right now or is there somebody living there?

Speaker 2: 12:58

It's vacant how long has that been vacant For?

Speaker 1: 13:08

about almost a year, probably, was it a rental property before?

Speaker 2: 13:17

No, not really. My mom lived there and then my brother-in-law lived there for a couple of years and he passed away.

Speaker 1: 13:25

Okay, I'm sorry to hear about that.

Speaker 2: 13:28

It's been a year ago now, Actually. My sister and my brother-in-law lived there and they both passed away. Jeez, it's been a while so is it like?

Speaker 1: 13:47

did you inherit it or did? Were you the owner of that entire time?

Speaker 2: 13:53

I inherited it, gotcha, it's, it's. I inherited it through, but I I've got five brothers and sisters, one deceased, but I have the. I had to go through and get the power of attorney and I have the right to sell Right, so you're the decision maker.

Speaker 1: 14:11

Yes, so, taking a look at, like, the square footage and the age of the home, I mean it, based off what you're telling me, it sounds like it's going to need a lot. What you're telling me, it sounds like it's going to need a lot, um, it's kind of the reason why you're reluctant to kind of name a price because, um, because of the condition and kind of you don't know what it's worth at this point correct.

Speaker 2: 14:39

Yeah, I'm hoping around around 30 000, but you know that you may say no way or that's a good deal. I'm not a construction person. I mean it's one of those where you're probably going to have to put $25,000 or $30,000 in it, like $25,000 or $30,000, but that's still a big investment. First, it depends. I'm not that person Understood.

Speaker 1: 15:11

I was going to tell you I am a little bit below $30,000. One of the benefits that if you were to go with us would be that the number that I tell you is a net number. There's no commissions or closing costs or anything like that. The only thing that you would pay would be whatever is owed on the property. So there's no doubt on it, Gotcha. So this would just be a net number, but I was. I was actually coming in around 15,000. Is actually coming in around 15,000.

Speaker 2: 15:49

I think it's worth 20 because it's on a lot. Like I said, there's still a good margin for profit on that. What I got to do is I have to. I don't got a self-reliance, I know that, but I have to make an attempt to get as much as possible.

Speaker 1: 16:08

Yeah, legally I'm buying two I got you, I think it's worth $20.

Speaker 2: 16:13

I think you can make your money because it's big enough where you know that's kind of a plus. It's big enough where you're going to get some good money for it. But you've got to put a little bit more into it.

Speaker 1: 16:29

But it's pure beam, so it that makes it a lot easier for a lot of stuff. I know, okay, you said it's on a lot and a half. Let me look at this. So at least maybe two lots, I'm not sure. Okay, I see it now from the up above. So is that a garage off to the left right there? Yes, okay, there's no addition. Right, it's still 1890 square feet.

Speaker 2: 16:57

I don't know the square footage, it's at least that.

Speaker 1: 17:00

Okay.

Speaker 2: 17:02

Yeah, that's probably pretty close. Yeah, that's probably pretty close. I mean it's yeah, that's probably pretty close, it's probably rather too.

Speaker 1: 17:15

So, in regards to you selling the property, you have the right to sign a contract, but then do you have to present it to the court? I do not Okay. You have the right to sign a contract, but then do you have to present it to the court? I do not, okay, all right, let me look at one more thing. All right, if I say I do 20, do we have a deal?

Speaker 2: 18:16

Yeah, I'd say so. What I have to do is I have to put that check in an account that's set up for my dad. He's passed away, so it's with me. They can earn of it. I would do that. I'd do 20.

Speaker 1: 18:31

Okay, I have your email. Okay, all right, I'll send over our agreement for the 20,000, which is a simple two-page contract. Once you sign that, then we'll need to go out there, we'll want to do a walk through the property, inspect everything, and I'll go ahead in the meantime, open up title and once that's clear, we'll probably get it closed in the next three, four weeks. Okay, okay, all right, donald. Well, I appreciate you. My name is rj bates company's titanium investments, based out of fort worth, texas, here. So I'll get that sent over to you here in probably about 10-15 minutes, okay okay, you going to put that information you just told me on the email.

Speaker 1: 19:27

Yeah, you said, do I have the information?

Speaker 2: 19:31

No, what you just told me.

Speaker 1: 19:33

You said your name was RJ, but you're going to put that on the information you emailed me yeah well, it'll be on the purchase contract, so it'll show my company name as the buyer and then you'll see my signature down at the bottom of the contract.

Speaker 2: 19:47

All right, that sounds good.

Speaker 1: 19:49

All right, donald, I appreciate you. Okay, thank you, bye-bye, Bye-bye.