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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
How To Beat Your Competition | LIVE Seller Call
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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.
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Over 10 years in the real estate investing business
Closed deals in all 50 states
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Closed on over 2,000 properties
125 contracts in 50 days (all live on YouTube)
Back to back Closers Olympics Champion
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hello hi is theresa there this is theresa hey theresa, this is rj bates. Uh, calling about your property there on massachusetts avenue Avenue. Sorry about calling you twice. The first time it was making like some weird sound so I didn't know if it went through or not, but it looked like you filled out a form on my website about needing to sell that property. Is that correct?
Speaker 2:I'm wanting to sell the property that I'm at. Yes.
Speaker 1:Awesome. How much were you looking to get for it?
Speaker 2:Well, I like 65, but I will go a little lower. All right, 65,000. It's a pretty large place. It is older Part of it's older part of it's new and I know that the last valuation I had of it was 150 some thousand okay, what's got you looking to sell? So are.
Speaker 1:Gotcha. So are you living in the property right now?
Speaker 2:Yes, I have been for 42 years, 42, 43 years.
Speaker 1:Yes, oh man.
Speaker 2:Yep, it's. It's an older home on part of it, Part of it's only 10 years old, 11 years old.
Speaker 1:Oh, so you did like an addition to it.
Speaker 2:Yeah, I did we did a great room which is a real big room that we give for family events and stuff like an addition to it. Yeah, I did. We did a great room which is a real big room that we did for family events and stuff, and then a double car garage and it's all attached.
Speaker 1:I see that I got it pulled up here on Google Street View looking at it from there. All right, when are you looking to relocate to?
Speaker 2:Out in the country, on the other side, on this side of Knob Noster.
Speaker 1:Okay.
Speaker 2:Yeah, a smaller place. I don't need this big a place anymore. All my kids are gone. My grandkids are all grown, so I really don't need this big a place anymore. All my kids are gone. My grandkids are all grown, so I really don't need this big a place anymore.
Speaker 1:Understood. Does the property need any significant work to it, or is it just kind of older and just been lived in?
Speaker 2:It's older and you know it could use new windows on the older side. The new side has all new windows and stuff in it and I put a new door in here, but it's probably 15. There's two front entrances and a back door entrance and we started on a bathroom upstairs and we never finished it, so it's just unfinished. There isn't really anything up there. We just started on it. There's all the stuff, there's a toilet and I shut it all off and I shut the whole upstairs off, so I don't even use it. It's just been sitting there and it probably could use some updating. You know it's an old house. I still have the glass doorknobs in here on some of the doors.
Speaker 1:You know, some people like that. Some people are like, hey, I want to keep that stuff.
Speaker 2:I cross the street by it, the one across the house, across the street I see like the old look of it, the older look of it.
Speaker 1:Right.
Speaker 2:Upstairs. In the rooms upstairs they have transom windows up there they don't make those anymore.
Speaker 1:No, they don't.
Speaker 2:Nobody uses those anymore. So, yeah, yeah, it definitely could need some updating. It's important how modern you want to make it and how old you want it to look. You know, if you want the historical side and this could be on the if I hadn't done improvements on it, it could have been on the historical register, because it's right behind me is the Katy Bike and Walking Trail, which used to be the Katy Railroad, and the guy that and I have some of the old paperwork on this. It's pretty old. The guy that owned this originally worked for the railroad and he ran out rooms upstairs to the railroad workers, so you know that's. He owned all the property, ran here and sold it all off.
Speaker 1:So it's been around for a while, yeah, I see that it was built in 1890. You know, you don't see the 1800s very often when we moved in here.
Speaker 2:Uh, there was still an outhouse outside. It wasn't functional, but there was still an outhouse outside. They didn't have any water originally in this house and they ran it in here and it was it. You could tell that they just did it because they needed it, not. You know, or you know they got older and didn't want to put there's a whole well that's filled in outside. You know, or you know they got older and didn't want to put there's an old well that's filled in outside. It's pretty historical place but we cited it, put vinyl siding on it and it's a large room, addition to one, if you can see it, the one with the double garage, car garage, and there's a room next.
Speaker 2:It's all. That's all you know. Within 11 years, new and let's see. We put new wiring in it. When we moved in here a Couple years after we not right away, you know we had to get some money. We put two roofs on it on this side the new roof is ever been replaced. We had the wiring done because it was two fuses when we moved in here. Two fuses, two fuses. So we had a nice breaker box put in, had the whole thing rewired. Part of the plumbing's been done, not all of it. Part of the plumbing has been done, not all of it. We turned the back porch into a bedroom and the other part into a laundry room. So yeah, there's been some upgrades, but, like I said, there's still upgrades that could be done Very well, mike.
Speaker 1:Just out of curiosity, what's going on with that lot to the right of the house? Is that just vacant land right there?
Speaker 2:No, that goes with the house.
Speaker 1:Oh, I get all of that too. Yeah, this is where the house. Oh, I get all of that too.
Speaker 2:Yeah, this is uh, uh where the house is and the one that goes down to in like a triangular shape. The back side is katie trail, like I said, and the side that's uh, I've pushed up street. Well, I don't know that you can tell it's a triangular it's not square and it's quarter or half a lot, city lot, I don't know if they have it on the tax date. Yeah, it goes with it. It's all the way to the corner. It's my property.
Speaker 1:Awesome, all right. Well, you talked about wanting to move out to the country, but you've lived in the house for 40 years. I mean, how much time would you need to be able to make the move?
Speaker 2:Probably three to four months to get everything sold out of here or whatever. And I've got some stuff in the garage that doesn't belong to me. It belongs to my grandson. He needs to get it out. He works for an amusement park, so he works a lot of hours right now, but I probably talk his parents into coming over and helping. So anywhere from three to four months.
Speaker 1:So one of the it's hot here yes, months, okay. So one one of the yes, yes, um. So one of the benefits of working with someone like myself is that you know we can work around your timeline, and so that's why I wanted to ask that um, you, if you needed it, we could put, if we were to come to an agreement, we could say, hey, let's close in 90 days and if, when 90 days rolls around, you're not ready, you know we can say, all right, let's, let's give you 30 more days and just really kind of work around your timeline and what that looks like, cause I, I, we deal with this kind of situation all the time where it's like, hey, some of my stuff is my sons and I've got to sell some of this stuff, and you know, you, you think, you think three months might work, but it might not. You know, you might need some more time.
Speaker 2:Yeah, 42 years. You know I have been getting stuff together. I've been trying to do a Swedish deafening. I don't know if you've heard of that. That's a new thing for the United States, but it's not over in Sweden. Because I'm older. I'm getting older every day, you know, and I don't want my kids to have to deal with taking care of any of this in the house and stuff. I'm getting rid of a lot of this in the house and stuff, getting rid of them. You know, getting rid of a lot of this stuff, a lot of. I just sold my stove the other day, my cook stove. I don't even have a cook stove anymore. So yeah, I'm serious, I'm. I'm gonna go one way or another or I ain't gonna, I'm not gonna have much in the house, one of the two.
Speaker 1:Swedish death clothing Death cleaning Cleaning.
Speaker 2:That's where you get prepared. You prepare to get rid of your stuff so your children and grandchildren, or whoever, do not have to deal with it when you pass up, mostly if they don't want to deal with it.
Speaker 1:You know, Teresa, I've talked to a lot of sellers. I don't know how many I've talked to. I would assume it's somewhere in the $10,000 to $20,000 range. I've never heard someone say that before. I just looked it up. Yeah, it's a decluttering method focused on reducing belongings to make it easier for loved ones.
Speaker 2:Yep, that's what I'm doing fluttering method focused on reducing belongings to make it easier for loved ones. Yep, that's what I'm doing, so they want.
Speaker 1:My daughter doesn't want to deal with it.
Speaker 2:No one. My son doesn't want to deal with my grandkids. They're young, they don't, they don't care. You know, he a little knickknacks from when they were a kid and that was it.
Speaker 1:Right yeah, so you said 60,000. Is there? Is that a specific number for a reason? Is that a certain amount that you need, or how'd you kind of come up with that number?
Speaker 2:Well, I, came up with it because I have some bills I want to pay off. I want to be, and then I want to buy a place, a little place, not a big place, just a little little place that I can live in, with very little furniture, very little to do, very little upkeep. You know nothing much to do. Um, that's what I'm looking at. And property, I'm really looking at a camper, putting it on a lot, you know, buying a 30-foot camper and putting it on an RV lot or a piece of property.
Speaker 2:Gotcha, okay, yeah, I'm looking at getting rid of everything and not having much left Just enough to survive. I don't need it, I don't want to take care of it anymore. My partner passed away 10 years ago, so it's kind of just me and my kids. When they come around, they're all busy, they're all living their life.
Speaker 1:Right. So Me and my kids, when they come around they're all busy.
Speaker 2:They're all living their life.
Speaker 1:So All right. Well, give me just a few more seconds here.
Speaker 2:You're okay, You're very okay. You just take all the time and, if you feel you need to call me back, look up information. Whatever you need to do and look up information, call me back or text me.
Speaker 1:Feel free to do that. I'm fast. Okay, give me about two more minutes and then I'll be able to tell you what I can do here. All right, what I will tell you is if we can come to an agreement on price, I'll explain kind of our process and how this would work.
Speaker 1:I would send you, um, a contract for us to purchase the price on whatever we agreed to and then, once you would sign that, then we would need to come out, we would walk the property and kind of do our our necessary inspections there, um, and then, if everything turns out to be exactly the way I see it which you've been pretty forthright about the condition and it needs some work I'd obviously want to look at, like that upstairs bathroom. You know, see what that looks like, what it would take to kind of finish that off. But if everything checks out for us, then we would be good to close on, you know, your timeline, whether that's three months or six months, whatever you need, there's, there's no rush from us on that and then at that price point, Um, so we we would be very, you know, easy to work with in that regard.
Speaker 2:And I will be right up with you. I have other people, I have appointments to talk to, another, I don't know, investor or whatever you call yourselves, tomorrow and another one next week.
Speaker 1:Oh well, let's just make them go away.
Speaker 2:I mean, oh well, let's just make them go away. I mean, I made appointments with them. I have to talk to them.
Speaker 1:Why it's okay. I mean, you just give me their phone number and I'll call them back and say hey, you know my name's RJ Bates and I came in and did a better job than you. So, let's be, let's be honest. Did you actually want to meet with them?
Speaker 2:I'm not meeting with them. I'm doing appointments over the phone.
Speaker 1:Oh, appointments over the phone. How silly, how silly. Well, that's what we're doing. We're having an appointment right now.
Speaker 2:Yeah, that's true, we are.
Speaker 1:Yeah, hey, speed is the name of the game. Speed and convenience that's what I'm giving you here. I'm giving you speed and whatever convenience you want. So where are you located? I live in Fort Worth, texas, in Missouri. Um, actually, funny enough, missouri is the second state that I've done the most deals in besides Texas. Um, I started, I started buying real estate, um, back in late 2014. And, uh, we did Texas only for for several years and then it was like, well, hold on, if I can do this in Texas, why can't I do this in other places? Texas is basically its own little country. It's so big. So, you know, there's no difference for me doing a deal in Missouri than there is doing a deal in San Antonio. I mean, it's five hour drive, it's a 12 hour drive to Missouri, it doesn't matter, I'm not going to drive the five hours to San Antonio. So we started doing deals and Missouri was one of the first places we went to. We've done a lot of deals in St Louis, kansas City, springfield. So, yeah, this is right up our alley.
Speaker 2:Those are our big towns. Those are our big towns Kansas City, st Louis and Springfield.
Speaker 1:Yeah, well, we've done deals in the small towns too. You know some of the St Joseph's. Uh, well, of course I had to do Branson, cause my parents always took me to Branson as a kid.
Speaker 2:Um, you know well it's nice hearing you all come from Texas, from Missouri, to have your vacations.
Speaker 1:Yeah, you know, we had to do the shows, the oldies, you know um, I learned all about wooly Bully and yeah, that's the one that never left my mind. You know, wooly Bully, the Putt-Puts, the Go-Karts, all that stuff. You know?
Speaker 2:do you know that Silver Dollar City has been bought out by Dollywood? Really, yep, I didn't.
Speaker 1:Really, yep, I didn't know that.
Speaker 2:Yep, dollywood and Silver Dollar City are owned by the same company, whatever that is.
Speaker 1:Man, Old Dolly. Is she still the owner of that, or are they just using her name?
Speaker 2:I have no idea.
Speaker 1:That much I can't tell you I hope she's still oh, she's still getting all the money from that we, uh, we have dolly, we have silver dolly city.
Speaker 2:They didn't change the name or anything. It has the same, a lot of the same attractions that dollywood does have in Gatlinburg or wherever the heck it is, and she's been. Her company owns. We have the Dolly, dolly or whatever the Stampede. We have one here and there's one in wherever she's has her Dollywood, and she's bought quite a bit of brands is what I've understood. So I don't know what her company has and I don't know. I'm sure she's still got 51% of her company. She surely wouldn't sell her company out.
Speaker 1:Right. I don't know why, but my phone gave me a notification the other day that she was going on a six-stop tour. The other day that she was going on a six-stop tour, I was like I'm not really like a Dolly Parton, you know listener over here, but my phone was letting me know that Dolly's going on tour. I was like, okay, good for her, she's pretty old. Yes.
Speaker 1:I still don't know how she keeps wearing them high heels and not fall off them. I love it All right. So let me ask you this, Teresa, I know you said you got the other two guys coming, but you know let's forget about them for a second. Okay, let's go, move on. All right. If I were to say I could give you $55,000 cash and close whenever you want and I'm going to cover the closing costs and there's no realtor commissions or anything like that, what would you say to that?
Speaker 2:I'd say, can we do 57-250?
Speaker 1:say to that who taught you to negotiate?
Speaker 2:Yeah, that's what my $5,000 in a half All right, I have a 57 G five.
Speaker 1:You know, it's funny Cause I, I, I do a lot of these, these types of conversations, and there's this book written by an FBI negotiator named Chris Voss. Have you ever heard of a book called never split the difference? No, and I've said it so many times. It's a very famous book because he was, you know, he teaches it to people that you know do sales and buy properties and you know, negotiate for a living. He was an FBI negotiator and so he said never split the difference.
Speaker 1:I get that, but you can't say can you send me half of the alive person, like he needed all of the alive person, like he needed all of the live person. But for us, I mean, it's like my, my thing is is twenty five hundred dollars. That's probably going to mean more to you, um, in your situation, than it is for me. So I'm, I am, uh, I'm good with that, but I do want to ask you now we are talking about the elephant in the room are you ready to do the deal with me or are you still going to want to meet with my not-friendly competition?
Speaker 2:Well, I tell you what I have this one that I've been talking to, and we could not come up with a meeting time. We would have been meeting today or an appointment time, but we couldn't agree on the time, and tomorrow's my day. I'm going to talk to them and I'd like to at least talk to them, and I can cancel out for next week.
Speaker 1:All right, now let me ask you what's the reason why you want to meet with them? What is it that they could offer you that I can't offer you?
Speaker 2:it has nothing to do with you, it has to do with me. It has to do with me. As I gave my, I committed to having an appointment with them, gotcha all right?
Speaker 1:well, here's what I would ask in return, because I totally understand where you're coming from and I don't want to try to convince you to do something that makes you feel weird.
Speaker 2:You know what your word means down there in text, absolutely.
Speaker 1:So here's what I would ask in return If you have an appointment with them tomorrow and you want to hold up your your word on that, I can respect that Can you give me a promise that, before you do anything with them because they're probably going to eventually talk to you about, hey, do you have any other offers You're going to say, yeah, I talked to this guy, rj from Texas, and then they're going to try to beat me out. So can you give me your word that you'll call me after and talk to me before you sign anything with them and try to do a deal with them?
Speaker 2:Oh sure, sure, I will give you that 100%.
Speaker 1:All right.
Speaker 2:I have no problem with that, and then call back at this time what time is, uh?
Speaker 1:what time is your appointment tomorrow?
Speaker 2:well, we'll be here. Hold on just a minute. I think 9 30, but I don't want to. I got to go in looking. I went into the wrong one. Sorry, that's what happens. Well, you know, it's in the morning, right yeah, I think it's 9, 30 in the morning okay.
Speaker 1:Well, why don't I just call you at like noon tomorrow?
Speaker 2:that'd be fine that'd be fun.
Speaker 1:Yeah, let's do that. I'll call you at noon tomorrow and we'll figure out what we need to do to make this work. Okay, theresa?
Speaker 2:yeah it is at 9 30 it is I? Just I found it. Yeah, 9, 30 tomorrow all right, sounds good.
Speaker 1:I'll call you at 12 o'clock, so that would they have plenty of time to do whatever they need and then you can think about it and then we'll call you and we'll figure out then. Okay, all righty, I appreciate it very much. All right, thank Teresa. Bye-bye, thank you, all right. So this is the continuation from yesterday's live. Now I'm going to call Teresa and see how her appointment went with the other wholesaler, see if I can get this lot down. Hello, hey Teresa, this is rj. How are you? I'm doing good. I just wanted to touch base with you, like we said yesterday, and see how your appointment went this morning.
Speaker 2:yes, they offer me a little bit more than you not a whole lot but they offer me a little bit more than you Not a whole lot, but they offer me a little bit more. But there's one thing that I forgot to tell you.
Speaker 2:All right, there's probably a lot of things that I could tell you, but you'd have to ask me questions because I can't remember all. But I have no central England air in this house because it was a historic house and it didn't have any in it. At one point it had a floor furnace and it had that warm morning stoves. You know what I'm talking about.
Speaker 1:I do. I. I actually kind of thought that because from Street View I could see the window unit upstairs.
Speaker 2:Yes, so I have window units and I have freestanding heat Got it, which means that they're gas heaters but they don't require venting or anything. I used to have one of those old ones like maybe if you ever saw your, if your grandma had an old house, you might have had one.
Speaker 1:Yes, I'm familiar with it.
Speaker 2:Okay, so I want to. I told them that and I said, oh shit, I don't think I told him that. I need to tell him that. I don't want him to think I'm trying to hide anything from me. I gotcha.
Speaker 1:So how much more were they willing to offer you?
Speaker 2:not very much, not too bad. You guys were within about the same range. They offered $58,700 okay so I mean, you guys were right there together after you know, you came up a little bit so and of course he wanted me to make a decision too and I said no, I'm not going to. I said I have, I just told him about that one I have next week that I'm going to cancel.
Speaker 1:Right.
Speaker 2:I mean, if everything goes all right, but I'm still willing to take your offer. But I'm still willing to take your offer. Now you said that, even if they offered more, just because you're the first one I talked to and I will take your offer. When did you say how is the process?
Speaker 1:So I would just I would send you a contract and I would put on there close on or before 90 days. But if you need more time we can always extend that. Once you sign the contract we would come out and do a walkthrough of the property, do our inspections and then just wait on you to tell us when you're ready to close. So we would go ahead and get title ready and open up title and get all of that and then as soon as you're like out, moved out, got all the belongings and whatnot sold and your son comes and gets his stuff, all that. Whenever that's done, then you say okay, I'm ready to close.
Speaker 2:then we would close okay and so, uh, now what if you send your inspectors out even though you've seen it on facebook and everything and they say, no, no, no, you don't want that house.
Speaker 1:So we would let you know pretty quickly on that. That would just be as simple, as we would come back and say, hey, Teresa, we can't pay you this much, but we can pay you this much, and you say yes or no. If you say no, then I can make a decision that I want to close at the current price or terminate the contract, and then you could just call this other guy and do a deal with him or whoever. At that point it would just. It just is kind of a. You know how every real estate transaction goes. We come to an agreement, then we inspect and then we say, yes, we're good to go, or no, we're not.
Speaker 2:Okay, all right, that's good enough. I just, I just don't want to wait too far out.
Speaker 1:Oh yeah, this wouldn't be one of those things where, like you move out and we're not going to do that to you, this would be over the next you know week or so we would, we would know and then we would say, all right, all right, you're good, start selling yourself, start moving, find another place, start doing all those things.
Speaker 2:And, like I said, I'm in the process of doing Swedish death cleaning, so there's like everything all over everywhere. So when you come in you're going to think of that. I live like a hoarder of stuff.
Speaker 1:No, it's okay, we don't pay attention to your stuff, we just pay attention to the house. It's okay.
Speaker 2:Okay, I'm good to go with you at what we agreed at yesterday.
Speaker 1:Let me make sure I've got this correct. I have an email address.
Speaker 2:Unless you want to come up and meet Chris Price and I'll be free both at two email address, Unless you want to come up and make a price, and I'll be grateful that too.
Speaker 1:I'll throw a little extra surprise in there when I send over the contract. Okay, I've got your email at. Is that correct? It's written Gotcha. Okay, okay, so I'll send that over to you. You can actually sign it on inside of the email. Are you familiar? Have you ever done that before? Yeah, yeah, I've signed people, okay, okay, so it's. It's super simple. It's just one little box for your signature, um, and then just hit finish when you're done, and then it sends it right back to me and then, as soon as that's done, I've got my team, a transaction coordinator that works for me. He'll send it off to the title company, get that process started and then, probably on Monday, we'll reach out to you about finding a good time for us to come out next week.
Speaker 1:Okay, yeah, because I have doctor's appointments and different things and sometimes you know I can't do it on the days right, yeah, so well, nothing, nothing is too vitally time important outside of just letting you know like, hey, we're good to proceed. That's, that's really the most important part there. Okay, all right, teresa. Well, I'll get that sent over to you here shortly, okay, all right, thank you so much. Thank you, we'll talk soon. All right, thank you, bye-bye. Boom baby that's what I'm talking about. Signed contract coming our way. Love Missouri, get you some.