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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
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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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How do I prepare to talk to sellers when I'm doing acquisitions? So just yesterday I broke down the King Closers formula from A to Z everything that you need to know about how to talk to sellers. But we also need to take some time out to talk about the preparation that you need, and several of you guys have asked like hey, rj, can you show us your screen when you're calling sellers? The only way that we can do that is we have to edit the video, because YouTube will take it down if we show too much private information. But I can show you my screen and how I prepare and what I'm navigating when I'm talking to each motivated seller. Now, before we get into me sharing my screen, I want to talk about the preparation where you're actually able to execute relentlessly. For one, you need to have the time blocked off to where the only thing, the only priority, that you have on your plate, is calling leads and connecting with these motivated sellers. Now I personally after myself doing acquisitions for years and years and years and managing literally hundreds of people that have done acquisitions, I believe that the max time limit that you could call motivated sellers before you need to have some sort of like decompression, reset is two hours. You could go about two hours and then it's like man, I'm going to start skipping out on some of the open-ended questions. I'm going to start not listening as well as I was when I started, and so what I believe is is that you need to have two hour time blocks throughout the day. Now, the way that I personally did this myself is I would start at 10 am Central and I would finish at 6 pm Central, and I would go from 10 am to noon and then I'd give myself about a 20 to 30 minute break and then I would come back 1230 to 230, give myself another 30 minute break, come back from three to five and give myself another break and then finish out the day with any hot leads, follow ups, just whatever I was feeling like was that low hanging fruit that I could go close. So have those time blocks.
Speaker 1:The other thing is is that you need to be mentally prepared. Now. This starts the night before by getting a good night's rest, being energized and just listen for me. Hey, caffeine, baby, like listen, I'll have a coffee, an energy drink, whatever you need to do to make sure that you are 100% present, because the great closers are great listeners. You need to make sure that you are 100% present, because the great closers are great listeners. You need to make sure that you have enough energy that, when maybe you're talking to a long-winded seller or it's an emotional seller, where maybe they're dealing with divorce or death or an inheritance, you have to be able to emotionally connect with them and be able to listen to everything that's coming along with that scenario and offer them a solution by buying their property.
Speaker 1:The next thing is you also need to know who you're going to be calling. Right, you have to have your leads together or, if you're cold calling, have your list already pulled. Your time block that you set aside for calling sellers should not include lead generation. It should literally be I am only calling sellers during this time. This is what I refer to as a revenue generating activity. Lead generation should not be a part of that. The lead should already be generated and you know exactly who you are going to be calling.
Speaker 1:Now let's talk about what my screens look like, because we do everything virtually. We don't ever go to belly-to-belly appointments, we don't go see the house, so we need to have everything ready. So I'm going to share my screen. The first thing that I'm going to have available is is my comping softwares. Now here we use both PropStream and Privy. I'm going to be logged in. I'm going to be ready to use these.
Speaker 1:So anytime I get a seller on the phone, the first thing that I'm going to do is I'm going to copy that address, I'm going to right click and I'm going to Google search the address to then do a Google Street View, so that pulls open a new tab and I do a quick walk through the neighborhood and I'm looking to see. Is there anything about this property that would immediately be a deal killer? For example, being across the street from commercial industrial, a school on a busy street, industrial, a school on a busy street, something odd about the house. And it also gives me a baseline for the condition of the property. You can tell a lot just from looking at it from Street View. Now, one of the things that you need to pay attention to is on the bottom right-hand corner. It will tell you when Google actually took the picture of that property. So, for example, if it's 2025 today and the picture was taken in 2020, take the image with a grain of salt A lot can change about a property in five years, but it does give you a general idea of the condition of the property and the neighborhood and if there's any reason as to why we should not continue the conversation, then I'm going to take that address and I'm going to drop it in to PropStream and or Privy so I can begin getting an idea of that quick.
Speaker 1:After repair value or the current market value, you Now the other tabs that I have available for me to use and I use on each and every call. Of course we have to have our profit calculator. This is what we're going to use to calculate what we can offer on the property and we can toggle the numbers right. We're going to play around with what the ARV is, the amount of repairs, the contract price of the seller and our assignment fee. Now, remember, using our profit calculator, the only numbers that we ever edit are the aqua boxes. Everything else is a fixed price, so we're not ever going to change the closing costs, the holding costs and the contract price of the buyer is auto-calculated based off of these other four boxes. So I've always got this available to me so I can play around to see what I can and can't offer to the seller.
Speaker 1:The next thing is I'm going to have my contract available, right, be prepared. Now, when I say be prepared, I take it to another level, where I go in and I go ahead and fill out the date for the contract. I go ahead, of course, have my entity in as the buyer. I even go as far as I already have the dollar sign in for the purchase price. I'm going to go ahead and assume that each and every seller call that I have, I'm willing to give them 48 hours to sign that contract. Now I will amend this based off of the conversation, but today being June 25th, I'm going to go ahead and put the null and void date of June 27th. I'm also going to anticipate that the majority of my seller calls would want to close in four weeks or 30 days. So I'm going to go ahead and I'm going to put a closing date of July 25th. Again, I can amend this, but I'm just trying to prepare and eliminate as much work as possible up front. So those are the boxes that I go ahead and pre-fill in.
Speaker 1:So when I do talk to a seller, all I have to do is come up here and change the name of the contract and all I do there is literally remove copy of template and put in the address. So I just paste the address in so I would have 123 Main Street, fort Worth, texas, 76179, purchase agreement. That saves in my Google Doc, inside of my Google Drive, and then I put the seller's name, the subject property, the legal description which you can pull directly off of PropStream, the price that we agreed on. I don't have to change the acceptance date, I don't have to change the closing date. I put the title company which, if you don't know which title company to use, you can get that from our market PDF, which is in the show notes, in the description, right down below, and then you just have to put the governing law, which is the state in which the property resides, in. If you have any other agreements, any special arrangements, you would just type that in to this box.
Speaker 1:Once that's done, I come up to file I download, as a PDF Pops up and then I'm going to come straight over here to our e-signature software, which we use Dropbox sign, and I would just drag and drop it, put in the signatures and send it to the seller. Now the only other tabs that I'm going to have open is my Dispo software. Now we're going to start with InvestorLift. All I would do here and the reason why I have this up during acquisitions is, say, I'm on the phone with a seller and it's in a location that I'm not familiar with. I would just drop in the city, fort Worth, wait for that to pop up, filter buyers, and this is going to tell me how many buyers do I have. I have 49,000 buyers and this is going to tell me how many buyers do I have. I have 49,000 buyers. Now, remember my rule of thumb is we need a minimum of 2,000 cash buyers. So obviously, fort Worth, texas being the 11th most populated city in the United States, we have plenty of buyers. This would be for more rural locations that I can't think of off the top of my head. So you fill that out. The other tab that I have open is my speed to lead. The reason why I have this open is because a lot of times if I'm buying either active coupon or exclusive leads, I would be buying them directly off of the marketplace and I also could see how many buyers I have inside of the city or inside the county prior to me even purchasing that lead. So I have this tab open because this is one of my top lead generating websites, which I would do while I am doing acquisitions. So that is how I coordinate and prepare myself to do acquisitions.
Speaker 1:Now my personal setup is I have four monitors. Now you don't need four monitors, you can absolutely get away with two. Some people try to get away with either using a laptop or one monitor. I personally believe that's going to be really difficult to navigate. Now what I will say is, the majority of time when I do acquisitions, I'm recording it on camera for you guys to watch. So one tab my bottom right monitor is almost always for my streaming software. My bottom left monitor is for all of the tabs in which I work on.
Speaker 1:So this is why normally, when you guys see me talking to a motivated seller, I'm looking like this, because I'm looking directly at that monitor. I have two monitors up at the top. Top right monitor is where I keep my emails, and normally I don't have to check those when I'm doing acquisitions, unless I'm checking to see if a seller signed a contract and making sure that when I send the contract it actually got delivered and there wasn't a miscommunication around the email address. And then my top left tab is strictly for Spotify because I love listening to music and I listen to music at all times while I'm working, unless I'm live or talking to sellers. So that's how I navigate it.
Speaker 1:You can absolutely get away with two monitors. What I would say is you can use your right monitor for your CRM, your leads, whatever, and then you've got your left for your comping software, the contract, the e-signature, your dispo software and you are fully prepared to rock and roll. But at the end of the day, you have to be prepared when you sit down to do acquisitions, and one of the biggest time killers is you have a two-hour time block and then you take 20 minutes to get set up. This is why I started my day calling sellers at 10 am. I would get to the office between 8, 30 and 9 and the rest of the morning was around preparation, making sure that my leads were ready, making sure I understood what my queue inside of the CRM looked like, getting all of my tabs pulled open, prepared for the day. And when I start dialing at 10 am, central, I know I am prepared to execute.
Speaker 1:So as you go into the next day to call sellers, make sure you take that time to prepare, get mentally ready, make sure you're energized and you are fully present when you're talking to these motivated sellers, because, remember, they need us more than we need them and they are relying on us to be 100% present during these calls. I'd love to hear how you guys have your acquisitions set up. Do you have multiple monitors? What tabs do you have pulled up? Did I miss anything and maybe should I change how I set myself up? Let me know in the comments. Show me some love on this video. We'll see you guys tomorrow.