Real Estate Wholesaling EXPOSED: RJ Bates III Shares Insider Secrets

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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:

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Chapters

• 0:00 Virtual vs. Office Culture Debate
• 3:11 Wholesaling Risk Assessment Critique
• 5:39 Challenging Limited Property Buy Box
• 7:45 Lead Quality vs. Sales Skill Truth
• 9:55 Traditional Wholesaling Under Attack

Transcript

Speaker 1: 0:05

Welcome back to the King Closer Reacts. I am the King Closer, rj Bates III, the series where I watch all these wholesaling gurus and YouTube influencers to see if they know what the hell they're talking about. Let's get into the first video.

Speaker 2: 0:21

They started going to the virtual space and they're like oh, I can do this from anywhere, which you can, but you got to have daily check-ins, maybe multiple times a day, with different departments. You have to create a culture through a camera, which is really hard, whereas if you're in an office, you can meet somebody's kids, their family, ask them how their day is going. So I've seen people migrating back into the office space at least to build a true real estate business again. Yeah, you lose that connection.

Speaker 3: 0:46

Yeah, someone you know, every day I get to go in. I bullshit with my guys a little bit, do push-ups all day like it's fun. It's a deeper sense of connection when you guys are not just talking like through a camera, for sure so I couldn't agree more with this take.

Speaker 1: 1:02

We did the whole virtual thing for years and I think there was always some sort of resentment between owners and employees. It's like if we weren't getting results, it was really hard to understand. Like was it because we weren't getting results because of a lead problem, a process, a system issue, or is it because you weren't doing work? And when you're virtual it always kind of turned into were you doing the reps? Were you truly paying attention? Are you just trying to get a paycheck here in the office again, building that culture he talks about just bullshitting with the guys. I mean, we have so much fun here. Just the other day we were standing out on the back balcony right here looking at the lake and we saw these two geese just walking in the parking lot and I made a bet with Justin. Like Justin, I bet for $10. You can't go down there and you can't touch one of those geese. And it was hilarious Like he ran down there. He's running around the parking lot, he dives after one, he does a front roll.

Speaker 1: 2:08

Actually you know what Jordan put it in there. Show everybody Justin's magical slow motion. Where are we? Where we got it? One of these sides. Here's Justin Slow rolling. He's all tore up. So we're going to go golfing later today and I'm going to beat him because his hands all tore up. But it's just having fun and I think work should be fun. It shouldn't be one of those things like. One of the benefits of being an entrepreneur is that you create your own company. It's not just about money, it's not just about this legacy that you want to leave. It's also about creating a reality of the culture that your business has and having fun and, yeah, the freedom and the money and all that is nice and it's important, but it's also just about enjoying who you work with on a daily basis here's the problem with wholesaling as a business model for an acquisitions person, we have literally zero risk.

Speaker 3: 3:11

Why is that a problem? Let me ask you this If you had to choose between the following two options, what would you choose? Wishing you got a deal under contract or wishing you never got a deal under contract and couldn't get out of a deal. It is way worse to have that bad deal and wish you could get out of that deal than it is to be like my wish I locked up a contract. I wish I got a deal and wholesalers don't have that problem that like forces you to be good at your numbers 100%.

Speaker 1: 3:44

All right. This is my issue Every single time we have one of these hot takes on the problem with the wholesaling model. I just don't understand what these people are talking about. So you're telling me that if I go get a property under contract, I have no risk? Yet I spent marketing dollars on generating that lead, I'm going to have all my systems and all my overhead, I'm going to spend money to get pictures taken, do recon on the property and then I'm going to spend time trying to dispo the deal. I have no risk. What are you talking about?

Speaker 1: 4:34

We have risks associated Also by the way, we make no money if we get a deal under contract for too high and we don't know how to run numbers. But we have to make money. So how is that the problem with the wholesale and business model, because you're pointing at it and saying we don't lose anything, like a flipper or a landlord would. Well, of course not.

Speaker 1: 4:57

We also don't have the upside that a flipper or a landlord has. That's why our average assignment fee across the entire nation ranges around $15,000 per deal. How many house flippers are flipping houses for $15,000? Nobody. So, yes, there's a give and take to the business model, but there are people out there that are spending $6,000, $7,000, $8,000, and in some markets even more in just marketing costs to get a property under contract. So you're saying, oh, we have nothing to risk, you terminate a deal that costs you $6,000. To saying, oh, we have nothing to risk, you terminate a deal that costs you $6,000 to get. Yeah, you have something at risk. I disagree with this.

Speaker 6: 5:41

These are the properties that I will not wholesale Fire damage properties, danger zone properties these are properties that are in really bad neighborhoods. Should I explain more Major foundation issues? I don't wholesale houses in floodplains. More major foundation issues I don't wholesale houses in floodplains. Flood zones okay, but a floodplain, no. You can't mess with floodplains, you can't get them insured. Houses that are old if they're under 1950, and also houses that are too expensive. Those million-dollar houses just sit on the market, sometimes for years. They're a terrible investment.

Speaker 1: 6:14

These are the properties that I do just name, like every house out there. Right, what do you want? 2012 built, that's $300,000. I mean, yeah, we all want those, but listen, in some market I don't know what market he's in, but clearly not a virtual wholesaler because there are some states where every house is older than 1950. Like up in the Northeast. What are you talking about? I mean, you're going to have to wholesale houses that are older than 1950.

Speaker 1: 6:43

And then, if you're doing wholesaling in a place like Houston, texas, you're going to have to deal with floodplains, fire, damaged homes. I mean. So what are we supposed to do? Just look at homeowners and say, oh, your house burned down and you need to sell that asset for a discount, and you're highly motivated. I'm sorry, I'm not going to help you out. Come on, there's a buyer for each one of these problems here. So I don't agree with just looking and making this really tight buy box. It sounds to me like maybe this gentleman right here is used to wholesaling the hedge funds and that's why he's kind of created this buy box. But when you become a virtual wholesaler and you start doing deals in multiple locations, you realize that there's many different types of buyers, that there's many different types of buyers and you have to kind of get used to the underwriting process for all of the different needs out there. So I don't know, I just feels like that's too tight of a buy box for me.

Speaker 4: 7:45

You think you have a lead quality problem, but you probably don't. Here's why I've analyzed thousands of real estate campaigns and I see most real estate investors say I have a lead quality problem, but that really isn't the freaking case. So stop whining about your lead quality and actually listen up. Most people are problem accustomed, not problem aware. So I talk to a lot of people that go to the highest intent let's say, google campaigns and they can't actually get leads to convert.

Speaker 4: 8:07

Then they jump from marketing agency to marketing agency and they jump from cold call into SMS. They just jumping around and say, hey, it's a lead quality problem. But then I go and listen to their calls and I come to figure out that is actually a sales problem, because most of these guys think they're really good at sales. But you listen to their calls you see that, dude, you're just terrible at sales. You just think you're good. So stop being a whiny little bitch if you ask me, and actually go and start learning sales, because you got guys that are literally doing SMS, doing more deals than you're doing Google PPC. How can these guys go and do some outbound marketing, get better results than you doing inbound marketing, just because, and then you complain about the inbound quality. No, it's. You do not have your sales process dialed in.

Speaker 1: 8:48

Courtney Scott bringing the fire right there. I agree, I could not agree more. So many people will tell me like man, the leads from Speed of Lead, property Leads, lead Solo, they suck and I'm like, but they suck. And then how come, every time I get a random batch, I get a property under contract. How come people inside of TU are closing deals every single day? We literally had I had a TU member text me last night. He said RJ, I am analyzing 20 plus deals a day that other TU members have under contract that are trying to wholesale to me 20 plus. Now, mind you, titanium University we've only been in existence for a little bit over a year. We only have 550 members. He's getting 20 deals a day that are under contract. Yeah, you want to learn how to actually close leads? Go to kingclosersformulacom.

Speaker 5: 9:53

What I find is a lot of wholesalers will just do it anyway, right, they'll lock it up and they'll get people in tough situations. And the thing is not all sellers tell you their timeline, right, some of them will just believe that you're going to buy their house because you said they would, and then people cancel because they're just trying to get the contract. So this is a big problem with traditional wholesaling, because most of these wholesalers that go out there do not have buyers until they blast out the list of thousands of people and then they get feedback and then they're like okay, this can you know, this can work. And I think that's why wholesaling is under attack, because the traditional way of wholesaling is stupid. It sucks, I don't know.

Speaker 1: 10:33

Listen, Nathan, I like Nathan. Nathan's a good guy. I don't know what he's talking about the traditional way of wholesaling. I thought he was a wholesaler, so maybe he's got some new fancy term the painless flipping way. I don't know. But also, all right, man, why are you so out of breath? Looks like you're slowly walking man, come on now. But listen, what are we talking about here? This is like is that the reason why wholesaling is under attack?

Speaker 1: 11:07

I think there's a lot of different reasons why wholesaling is under attack, but this right here. This is like assuming that every wholesaler out there just has the intention of locking up every single deal, blasting it out and hoping that it sells. I think that happens a little bit. There's a small percentage, but the majority of people realize very quickly after they terminate one, two deals where it's like hey, that took a lot of my time, Because one of the worst things that we want to do is terminate. We continue to work, and work, and work, and so it's like if I just got this at a better price or a better location, then I would have already made money. And so we start tweaking our skill sets. So I don't know what his new way of wholesaling is, but at the end of the day, copying and underwriting is the most important skill set out there and that's why some of us have regularly been teaching. Like this is what you guys need to be focused on how to talk to sellers, how to identify their motivation, how to identify their timeline and she said some sellers won't tell you that that's weird and then also understanding where your end buyers buy.

Speaker 1: 12:21

All right, guys, that's our episode of the King Closer Reacts. Hope you enjoyed it. Let me know in the comments if you did Give me a like. We'll see you guys tomorrow.