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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. He has won back to back Closers Olympics earning him the reputation as the King Closer! Finally, RJ and Cassi DeHaas, his partner, have started their education platform called Titanium University.
The Titanium Vault hosted by RJ Bates III
RJ Bates III & Cassi DeHaas Wholesaling Syndicate LIVE Presentation
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
(FREE) Join our exclusive FB group community for real estate investors and wholesalers: https://www.facebook.com/groups/titaniumvault/
(FREE) Click here to grab our Titanium fleet free PDF & training: Our battle tested strategies and tools that we actually use… and are proven to work: https://www.kingclosersformula.com/fleet
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
All right, what's up everybody? So we're going to be sharing the mic today.
Speaker 2:All right, but uh, I was going to make him yell because he's so loud he don't need it. Actually, am I loud enough?
Speaker 1:Yeah, Hell yeah. I was really coming in. Alright, but I'll be like you tell me, shut up out there. But I'm already. This is Cassie. We're titanium ambassadors, titanium University.
Speaker 2:We got a lot of your beautiful faces in here From the seed to shining seed.
Speaker 1:Alright, we got California, Georgia in the house, Ohio. Yeah, appreciate you guys coming out Alright. So Today we're going to be talking about how to create your own reality. This is our. I'm loud enough, isn't I'm loud enough? Am I loud enough?
Speaker 2:In the back. They're like.
Speaker 1:All right.
Speaker 1:Camera guy said I have to use the mic. All right, all right, my bad, all right. So today we're here to talk about how to create your own reality through wholesale and real estate. Cassie and I have been running Titanium Investments for the past decade and it's literally been the best thing that we've ever done. We've been running a business together for the past 14 years. So before we get into that, I do want to kind of tell a story, and we're going of tell a story. We're going to do it creatively. This is the first time we've ever tried this before, so hopefully this lands you guys let us know. Okay, but over the past 14 years there's been moments that we've had and I talk about moments a lot. It's not in TU and just on my content, but as we were driving up there, I started thinking about the impact that San Antonio's had on us, on our career, and what's led to us being here today. So, cassie, when I say some words, I want you to give me a reaction, what it makes you feel. Fred's Cafe.
Speaker 2:The Spark.
Speaker 1:All right. So Fred's Cafe was 14 and a half 15 years ago. She was a bartender. I was dropped off in the key of Seoul. She said we should start our own business. That was the spark, All right.
Speaker 2:Fred's really motivated me to want to own my own business. Let's just put it that way Fred's a creep.
Speaker 1:Anyways motivated me to want to own my own business.
Speaker 2:Let's just put it that way, frenzy.
Speaker 1:Creep SMU.
Speaker 2:Man that makes me think of my stomach flipping.
Speaker 1:SMU is where we were when we were in the Kia Soul. We had started our own business and I said, hey, I'm not going to be the sales guy on everything, you're the pretty lady, we're door knocking. They'd much rather open the door for you than for me. So I literally put my foot on her ass and kicked her out of the Kia Soul so she'd be a door knock, and that was the first roof that she ever sold. We weren't even real estate yet she sold the roof. Luckily the owner was like 29 years old and I'm pretty sure the only reason why he went with us is because she was a pretty lady, not from the door. So that was the most funny that we had ever made at that moment. So from smu, let's talk about the Buyer's Summit.
Speaker 2:I'm tired.
Speaker 1:So the Buyer's Summit was the event that we had to go to, where we spent $65,000 to learn less than what you guys are going to learn once. I stop rambling here in about 35 minutes. So we're going to teach you guys how to do off-market, direct-to-seller seller, how to close deals, how to confident on the right. There was none of that. We paid 65 000. The buyer summit was in las vegas, but we learned enough to get started and it took just ridiculous action that when we left I mean immediately, it was we're going to do this no matter what.
Speaker 1:I would assume the vast majority of you sitting in this room today are not going to take action. I'm just going to call you out. I hope you proved me wrong, because I sat in a room where a bunch of people spent $65,000 and they never did anything. There's basically I know of two people in a room where a bunch of people spent $65,000 and they never did anything. There's basically I know of two people in that room that did something and we're still here and we've made life-changing money. But it's up to you to decide whether or not you're going to implement what you learned here. In just a few minutes let's talk about Carolina Street Money pit. Let's talk about Carolina Street.
Speaker 2:Money pit.
Speaker 1:So on your way here you probably passed an exit for Carolina Street, florida Street, all right, 221 Carolina Street. We own that son of a bitch for a long time.
Speaker 2:All right. We weren't even supposed to be the owners.
Speaker 1:Yes, so at some point in time we decided that wholesaling was making us a lot of money. But people that stood up on stages and had a YouTube channel and podcast, what they told us was wholesaling is like the bottom of the barrel, right, you're like the people that don't really make money. You're not really the business owners, you're not the big dogs. In order to be big dog, you got to start flipping, you got to own rentals, you got to really start buying real estate. So when I said we wanted to expand was we went to places like austin, san antonio, houston. We got a deal at 221 Carolina Street, san Antonio.
Speaker 1:We tried to dispo it. No one would buy it, but that wasn't a red flag enough. Fuck it, I'll just buy it, right? So we did and we hired a contractor and that contractor went out there and took our money and did nothing. And then that happened again and again. And then Cassie and I came down here and we checked on it and we tried to manage ourselves in San Antonio when we live in Fort Worth and fast forward boy took three years, a couple hundred thousand dollars in loss and we learned some things. Okay, we'll get to what we learned there later in the speech, but just remember 221 Carolina Street. All right, what about radiant roofing?
Speaker 2:Man, I don't even know, like, what to say about that. That was an interesting San Antonio experience. I've lived in San Antonio for like what six weeks Yep Consulting a business, a roofing business. That was actually my first real time I spent here, so I guess, like that was my. I don't know what to say about that.
Speaker 1:I'm glad I don't do that anymore, that's for sure part of our journey over the past 14 years is finding ways to make it through the tough times. No, no matter what, and being an entrepreneur is extremely difficult. It's hard. It's a lonely place. Being inside rooms like this helps. Being inside the communities helps, because you can talk to other people that are crazy enough to say I no longer want to receive a guaranteed paycheck. I'm going to bet on myself to go do this on my own, Including sometimes moving away for six weeks and consulting a business to just pay the bills when she was doing that. That wasn't part of the business plan. It wasn't part of the plan whatsoever, but the sacrifice that she made to do that. Come down here. Work alongside a roofing company, knock on doors, try to help them sell deals. Work alongside a roofing company, knock on doors, try to help them sell deals. That was all so we could basically pay at the time rent, electric bills, water bills, whatever it took. And part of what we want to talk about is when we say create your own reality. It is the reality that you are going to create with the actions and the skill sets that you develop over the course of time.
Speaker 1:Cassie and I never were handed anything. We had to earn it. We literally came from negative bank accounts to where we are today, and so don't expect it to be easy. Expect it to be worth it in the end. It's supposed to be hard. If it wasn't hard, everybody else would do it. All right, Anything. You supposed to be hard? If it wasn't hard, everybody else would do it.
Speaker 2:All right, anything you want to add on that since we're sharing this.
Speaker 1:I mean, you just did such a good job, all right, let's move on to the next one, all right? So our job here today and every day, with all of our content that we create and every implementation call we do at the team crew, is to try to simplify this. One of the things that this industry really has a lot going on is there's so many different things that you can do and there's so many different systems and which ones work and which ones don't. Okay, so cassie and I are going to try to simplify this down, all right, and in reality, what I want you coming out of here today, at least from us. There's other beautiful speakers that are going to share a lot for you, but the two things I want you to know that I think are the two most important things as a wholesaler is how to talk to sellers with closed deals and how to comp and underwrite and make sure it's a good deal. If you can do those two things, you can make a lot of money.
Speaker 1:Okay, we've talked to Caesar and Tyler. They've been with us for a long time. They don't know how to dispo. They suck at dispositions, right Transaction coordination. They don't know how to do that. They suck at that, right. They know how to do that. They suck at that, right. They know how to talk to sellers and they know how to copy and underwrite. Tyler's getting there. I mean, he's a little slow, alright? Alright, you want to talk about? Alright, this is all the next four things that we're going to talk about. This all comes from her brain, so I'll let you start off with the CIT.
Speaker 2:Okay, so CIT, what is that? I call it CITA? This is something that I developed as a shortcut, shortcut.
Speaker 2:I like to keep things simple To remind my team, when I'm training them, when they're in their work, that it takes simplifying it into four things. And if you have to check what's going right, what's going wrong in your process and your systems and your operations, whatever you're doing takes four things and these are the health check for it, consistence, consistency. So I call it consistent, intentional, tactical action. Everything you do in your business is going to require those four things.
Speaker 2:So obviously we're really big on consistency. This is you're consistent as a tree bit that you have, but reality is is that you're going to be doing a lot of the same things over and over and over again, day in and day out, and it's kind of repetitive, right, but you're going to perfect them along the way.
Speaker 1:All right, let me ask you a question on consistency. All right, what do y'all think Cassidy's known for in the industry? Pomping, pomping, okay. What am I known for in the industry? Comping? Okay. What am I known for? Closing? All right, if you were to ask me and Cassie, the thing that we should be known for and the thing that we actually believe separates us, because I feel like other people can close deals, other people can comp it under right.
Speaker 1:I mean, we've seen that it's the fact that we're consistent, like that's what actually leads us to winning day in and day out. To you knows it, they see it every single day. We show up implementation calls. We're in the facebook group. We're coaching. Our team knows it first, one in, last one out. It's always the case, consistent as a tree. That's what we refer to it as. Think about it. What plant out there what is more consistent than a tree? It doesn't exist.
Speaker 1:Okay, that's what I want my business to look like. I want people to look at titanium. Not see us growing just one day ago. How the hell did they get there? Them not see us growing just one day ago. How the hell did they get there? I feel like it's happening right before our eyes. So she talked about the eye being intentional. All right, so there are people that are consistent but they're not intentional. Okay, they show up every single day to the implementation calls, they watch youtube, but that doesn't move the needle. That doesn't lead to you making more money. You showing up today is an intentional action for some sort of change in your life and your business. Okay, tomorrow you have to have another intentional action that moves you towards making money. And it has to be that way, day in and day out.
Speaker 2:If you show up and try to get on the phone with sellers and you just end up doom scrolling all day, that's probably a problem.
Speaker 1:All right, so tactical. This is the advice that we're going to give you. All right, the rest of our speech, as soon as we're done with this, it's going to be about the tactical advice of talking to sellers, pumping in and underwriting. Okay, this is the easiest part out there. All of the information exists about how to be tactical in this industry. It's what people choose to think that they struggle with, but in reality, what we've seen after now coaching thousands of people, it's the consistency, the intentionality. And then the last one, my most favorite one, that people struggle with they don't take any damn action. Okay, multiple multiple times.
Speaker 1:People will say Speed to Lead is like the main sponsor out here. Right, it's a super sexy name. We talk about Speed to Lead. Do you use Speed to Lead? Do you use the Speed to Lead? Hey, I bought 20 leads, I called them twice and I didn't close any deals. That's not taking action. That's like a solid half hour. Okay, like if you were serious about this, you were going to have to show up and you were going to have to put work in day in and day out and actually take massive action. Okay, so, in and day out and actually take massive action. Okay, so one of the things that we want you to realize, because this is like what we always focus on consistent, intentional, tactical action. All right, you want to talk a little bit about this?
Speaker 2:I always feel weird because I'm passing this over to you. I know, but you keep passing it to me on the parts that you were planning to talk about.
Speaker 1:All right, so we've got foundation elements inside of our business. These are things that we talk about every single speech that we give. This is extremely important to us and we feel like it's extremely important for you guys to be able to grow. Your business Starts with hedgehog concept. Does anybody that's not TE related know what the hedgehog concept is? Excellent, y'all do not like Jim Collins? All right. There's a book called Good to Great. I was written by Jim Collins, and the hedgehog concept is as a business, you are focused on one thing and one thing only. I believe every business should have that. If it does not fit inside of your hedgehog concept, the answer is no. So, for example, our hedgehog concept is we are a nationwide virtual wholesaler. That is our hedgehog concept. If it does not fit into that, our answer is no.
Speaker 1:Remember 221 Carolina Street? That was us straying away from our head-to-head concept. We were a wholesaler. We decided we wanted to become a flipper. What ended up happening? We failed as a flipper because that was not our business strategy. We lost a bunch of money. Guess what else struggled Our wholesaling operation. So not only did we lose money, but we also lost in the opportunity cost inside of our wholesaling business. So now, even though we've flipped hundreds of houses and we've owned rental properties and we do all that, titanium investments as an organization will only wholesale properties. We don't do novations, we don't do hotels. We don't do any of that. If I want to do a hotel or I want to do an ovation, I'm going to JV it, I'm going to go do it with somebody else and make them do all the work and I'll take a piece of the pie. Otherwise, we are laser focused and because of that we do not leave money on the table. We actually make more money than we ever have before. Mark, are you talking about this one?
Speaker 2:It's. I'm not you talking about this one, it's your slide. I did not make this. I don't make any of these slides, all right, so stop chasing unicorns. Stop searching for unicorns is normally how we say it. Stop chasing unicorns.
Speaker 2:What are unicorns? These things just don't exist. You're not going to find some magical software. You're not going to find some magical product service provider. I know there's a lot of great provider. I know there's a lot of great ones here. I know there's a lot of great ones out there. But the reality of the situation, guys, is, is that usually the magic is in the work that you're trying to avoid and you're going to need to go back to the consistent, intentional, tactical actions that you're going to do that produce results in your business. So if you're out here chasing unicorns and blowing up your business and blowing up your time management, blowing your whole thing up, because you're out here trying to look for some magical solution, they don't exist, right? So you don't really want to make any huge changes all at once, anyways, to your business without blowing it up. You just you're. You're gonna have the same things that work for the rest of us. They can work for you too.
Speaker 1:So I don't have it, I got it. So what's that? What's that on on the stop searching for unicorns? When people sign up for a software, say speed lead they need to make a 90-day commitment to that. If you sign up for any of the sponsors here, quite frankly, all of them here will work. All of the softwares work. The ones that we choose to use, you know PropStream, the Privy's, the Speedly's they all work. The ones that we don't use, they still work. There's people out there that succeed with NextLeads. I don't know who they are, but there's people out there that succeed with next leads. I don't know who they are, but there's some people out there that say it works. All right, they all work. If you're going to make a commitment, stick with it for a minimum of 90 days. This is where the wins happen inside of your habits. Your habits become your processes. So the reason why you need to make a 90 day commitment is because you have to learn how to use that software or that system and then you start mastering it and you create habits.
Speaker 1:As a business, I can tell you right now that inside Titanium Investments, if you were to go listen to any of our seller calls, they're all going to sound the same. The only thing that's going to change is the voice. All of the company and underwriting is done the same. The only thing that's going to change is the voice. All of the company and underwriting is done the same. It's now expanded outside of my wholesale operation to now our community. Just the other day, we were live on YouTube and we had Danny Force, we had Trish and we had Ken Smoot all on the phone. All the calls sounded very similar. The skeleton of how they went was there. Why? Because it's becoming a habit. It's becoming the process that we all use. So you have to have focused habits inside of the systems.
Speaker 1:All right, this one right here is mine and Cassie's favorite one, because we have to deal with a lot of people that struggle, and we have chosen the path to deal with this because we want to help people. So here there's two ways to handle this. When you are struggling, you can either have the excuse plus a story, which is what most people have right, or you can have the reason and then offer a solution. This is how very few entrepreneurs attack things when they're struggling With all the things that we've talked about up to this point. Sorry, all the things that we've talked about up to this point. This is the one that people do not naturally grasp, but the ones that succeed. Years later they look at it and they say when I understood what a hedgehog concept was, when I started focusing my habits inside the systems that I had and I stopped telling myself stories for the excuses why we weren't succeeding, that's when things change, that's when my life changed, that's when results started following. And so for us, anytime we hear people say this is where I'm struggling inside of my business, we want to ask them that's the reason. Now let's come up with a solution together. So if you're here because you are currently struggling inside of your business, I want you to start thinking about that. How can I be more focused inside my business? How can I make more of a commitment, have habits and then start offering solutions to myself?
Speaker 1:All right, y'all ready to get into the tactical stuff? All right, who's here? Uh, heard about the closers formula? Anybody who here uses the closers formula? All right, damn, I don't know who we are, but closers formula works. You get more. People should raise their hand.
Speaker 1:All right, step number, step number one embrace being the buyer. Who here is an actual in-buyer. They actually buy deals, all right. So you guys are buying deals. Are you guys wanting to get into wholesaling? You do both, okay. So since you do both, you understand what I'm talking about.
Speaker 1:Most wholesalers do not understand how to embrace being an end buyer because they're only looking at it from a numbers perspective right, and they need deal flow, they need the money, right Whereas most end buyers they look at it completely different. They look at it and say I need to make sure that this deal is a great deal for me so I don't lose my ass, right? So they're normally very, very confident when they're talking to sellers. When a seller says I need $200,000 for this house as an end buyer, you can just straight up look at them and be like that's not going to work. This is the reason why I would lose money, whereas most wholesalers will try to manufacture a deal. Right, it's hard for them to embrace seeing that. This is why when, anytime I'm live on YouTube and I embrace being the buyer and I start walking away from a deal, they'll say well, rj, why didn't you pitch an ovation?
Speaker 1:Why didn't you pitch some too? Why didn't you do all these things that you could do? And then five minutes later, the seller starts chasing after me. Because of the motivation right, I embraced being the buyer in that call and because of that they come after me. All right, so real quick, as we get into the five steps from the close of formula, me and Cassie are going to role play using the same mic here. All right, I just called you. Hello. Hi, it's Cassie there.
Speaker 2:This is she.
Speaker 1:Hey, Cassie, this is RJ Bates. Looks like you filled out a form on my website. Or talk to someone about selling your property there on 123 Main Street. You still looking to sell?
Speaker 2:Oh yeah.
Speaker 1:Awesome, how much you want to get for that $450,000. Okay, $450,000. Well, tell me a little bit about what you got going on. You got some shit going on.
Speaker 2:I've got some shitty tenants in that house.
Speaker 1:Shitty tenants for $450,000,. Huh, you sound like a fucking great song.
Speaker 2:Is this where you're matching my energy? Yeah, no, um, yeah, I mean I just I'm a tired landlord man. I don't really want to deal with their calling me and getting a hold of me every time they need something.
Speaker 1:Good, okay. So shitty tenants, you want $450,000. You're tired of answering the phone. How'd you come up with $450,000? What cost? Ah, you have a realtor. Pull those. You pull them yourself. Look on Zillow what was it.
Speaker 2:I mean, I pulled it myself. I'm a tire landlord man. I know what I'm doing, Gotcha.
Speaker 1:Okay. Well, what's the deal with these tenants? Let's get back to that. So, anyways, we'll finish out that that's the framework of the closers formula in a nutshell. Okay, so we're going to use that example, which, by the way, we did not plan that whatsoever. I don't know if you can tell that.
Speaker 2:That was total improv. We also didn't plan to have one mic.
Speaker 1:No, we did plan on role-playing, but it was really a little bit different, right that we did plan on role-playing, but it was really a little bit different, right? So all right. So we're going to use that as an example when we go through what the closing formula is. All right. So step one is verify the need to sell. Right, you saw that? Hey, you did this. This is why I'm reaching out to you. You still need to sell, yes, all right. Step two how much are you looking to get for it? Who here right now asks for the seller's asking price right out the gates? Why? Why do you not ask them? Somebody answer? Send them to the property. No, no, no. Why would you not ask them right out the gate? How much do you want for your property Motivation? That's why you don't ask Mot, do you not ask? Because it's logical and you don't get into real, like the emotional side of the list, oh no man that's what somebody told you I'm doing.
Speaker 1:I got people crying on my shoulders, man, and we we get, we get. Add the logic out of the See. You want to be emotional and then become logical. I want to be logical and then get them in the emotion zone. Man, I want them trying on me. I hear what you're saying. I think, personally, the reason why is because, as an industry, we've got to be told we're not supposed to. It's like, hey, we want to know their motivation and their timeline and the occupancy and the condition, and then we get the price and then we talk the numbers. At the end, I feel like the two most important things that I need to know for every seller is price and motivation. That's really all I need to know, and then everything else I can determine throughout the call. So I want to get the price out of the lane very quickly. So, for example, right here, price out of the lane very quickly. So, for example, right here, when me and Cassie were role playing, she shot out $450,000. It kind of gave me an idea of who she was and her thought process very early on in the conversation.
Speaker 1:Now we move on to opening the questions. Okay, that is the tell me a little bit about what you got going on. Can anybody tell me what the hell I'm asking when I say tell me a little bit about what you got going on? Maybe motivation it's really hard to tell From a seller's perspective it's so open-ended they have to then determine what to talk about.
Speaker 1:So, off the spot, if you and I have never spoken before and all of a sudden I'm like, hey, you want to sell your house. Yeah, how much? You want A hundred thousand, what you got going on, you're just going to be like the most important thing, like this, is what I got going on. My wife divorced me and I got no money and I got to sell the house. What is that? The motivation, everything I need to know. So many of our closes start right here with just that third question Tell me a little bit about what you got going on. And then everything that we do the rest of the call is based around their response. So the key to the closures formula is listening. So, as cassie was telling me I got shitty tenants, right, I pulled my own pumps. I am now developing a profile of who she is and how I want to navigate this, but I'm trying to listen to what hurts her. You want to say something.
Speaker 2:I just think that the most important thing to realize about this is that a lot of times, when you don't actually use this method, you're going to end up on the phone with sellers. Where the sellers are selling you, Sellers are trying to get you to tell them what you're going to offer them for a property you've never walked through. You've maybe seen on street you barely looking at numbers for a couple of minutes. You're going to end up in a much better space to have a much better conversation by having these steps in these orders that we're going through, Because it is really important that you remember they're selling something to you. They're not getting you to anchor on price. They're not getting well, make me an offer.
Speaker 2:You end up having those conversations. You've got to stay away from those types of conversations and you're going to establish all the rapport that you need by showing them that you're actually sitting in that buyer's seat, by showing them that you're actually the expert in what you're doing here, which is buying a property from them, not selling them on your company, not selling them on your brand, not angering a price for a property you've never seen. If you are going to try to pretend that you know something that you don't know. In the call it just comes off as false. You're not having a real conversation. Therefore, you're not going to close as many as people who aren't.
Speaker 1:So, on the open-ended questions, there's going to be two things that I'm trying to determine during this moment. Okay, so I'm going to fast forward real quick. One I'm going to identify the seller type. If we could categorize without knowing my seller types, what kind of seller was Cassie? What do?
Speaker 2:we think.
Speaker 1:Okay, yes, you're going to get there in a second.
Speaker 2:That's not the seller type.
Speaker 1:Educated investor. Okay, so a professional investor, right? She's like hey, I I'm a tired landlord, I pulled my own cops, I know what I'm doing. There's a chance it could be unprofessional, right, because we don't know enough yet, but I would lean more towards professional, right? What are you going to be professional, yeah, okay. Yeah, of course you're right, so she's a professional investor not a professional actor, right, we don't want to say landlord, because we want to deal with people selling flips too, right.
Speaker 1:So professional investors are normally going to be highly logical conversations, not very emotional, which makes it great for us because we can really just cut through all the shit and get right to it. All right, when I say get right to it, it's we have to determine what seller bucket they fall in. So what jacob was yelling out there high price, high motivation. Okay, the four seller. There we go. There's four fingers, four seller buckets, all right. Uh, two bad ones, two good ones. The first bad one is the obvious one no motivation, wrong price. Okay, that's realtors, full retail, get out of here. The other bad bucket, it's the one people don't pay attention to, but it's the least common Right price, no motivation. That's where the scam artists come in. That's where the people that have liens and judgments so they can't sell for the price that they're telling you for.
Speaker 1:Then the two good buckets lay down bucket right price, high motivation. We all know how to close that. That's like 1% of every lead that exists. And then the most common one that we haven't talked to, which is her right now high motivated, wrong price. This is where each and every one of you, if you want to be successful, have to figure out how to do this. For any person that's ever bought a PPL lead and said every lead wanted full retail, welcome to the fucking game. Okay, you have to get good at closing those, right. Is she motivated?
Speaker 2:Yes.
Speaker 1:Yeah, she is Right. Did she have a wrong price? We don't know. But $450, tenant-occupied, with shitty tenants Does that sound like a good price? That doesn't sound good at all, right? So how am I going to get her to understand that she needs to sell that to me for like half of that price? Educate Specifically with logic, right, because she is a logical seller. This will make sense. So where does the logic start with Analyzing the deal. So, while we're on the phone, I'm going to be analyzing the deal. Okay Now Cassie, I want you to real quickly break down what this means.
Speaker 2:The web, the web, the web, the web, the web is where end buyers buy, as I'm sure you can all read here.
Speaker 2:This is kind of a clever way for us to explain how we teach you to comp and underwrite.
Speaker 2:And what the web is is that it has three layers, basically, and then you basically need to learn how to comp the actual property. We're talking about the as is our current market value, and we're talking about the after repair value. The second layer is definitely you're identifying what the repairs need to be and how they match. So if you're talking about current market value, you're going to assume zero to very, very little rehab for that right. If you're talking about an after repair value, well, the after repair value is a sliding scale for how much you repair or upgrade in it. So is a sliding scale for how much you repair or upgrade in it. So it's very important that you understand those things. So you're basically, in essence, understanding the exit for your end buyer. And then the third layer is determining where you need to be at on price. And we do that and we teach that, not this easy button way, you know. We're actually teaching you to understand the numbers from the perspective of end buyers and it's really about the potential profit per the exit, right. And so why is this extremely important? It's pretty much the foundation If you're going to wholesale, if you're going to invest, if you're going to be a landlord, if you're going to be a flipper going to invest, if you're going to be a landlord, if you're going to be a flipper, no matter what you're doing, you need to understand what your exits are. You know, we've bought God knows how many rental properties over the years, done how many flips over the years I couldn't even tell you at this point wholesale I don't know how many thousands of deals. If you don't understand the numbers, you can't do shit in this business, right? So you can talk to sellers all day long, you can understand the closers formula, you can displace properties all day long, but if you don't understand the numbers, you don't belong in this business, right?
Speaker 2:So kind of made it a mission to teach people how to do it and do it well, because it's what's going to lead to success. So where does this come in? How do you do this in a couple minutes on the phone? Well, we have developed a system and it's called the web, and it's not a perfect thing, right, and this is what people kind of struggle with. You know it's something that you develop through a process, right, it goes from the lead generation all the way to closing.
Speaker 2:Pretty much a lot of times, when you're getting that final underwrite, final underwriting, final walkthroughs, um, you're, you're keeping an eye on the numbers through that whole process as an end buyer, right, so you have to know the numbers through the whole process.
Speaker 2:You're not going to figure that out on a one call close, and this is why people didn't believe our asses when we said we won call close, left, right and center, and I believed that until RJ started displaying it. But the reality of the situation is is you can actually comp. You can't actually underrate that quickly and be in the web. So think about a spider web, right, if you land on the web and it's, you could think about a bullseye, but the web sounds better because it's where it fires by. If you land in the web, you're good, right. But if you're extremely off on rehab, if you're extremely off on your ARV or CMV, you're not so good, right, and then the numbers adjust along the way. Most of the time you're not even going to have to move the contract price and sell, or the contract price of the buyer or your wholesale fee, if you just learn how to get within that web. So what it is about is learning how to be good enough at it.
Speaker 2:I'm looking at my own face, too close to my face, learning how to be a good enough addict so that you are able to apply while on the phone with a seller, while applying the Closers formula.
Speaker 1:And it was fantastic applying the closers formula and it was fantastic. So, while we go back to step four from a, what I am doing on the phone with the seller I'm taking that address. I'm going to Google Street View. I'm making sure that there's nothing about this property I don't want to buy. Taking the address, I'm going into Broadstream Privy whatever company software I have putting the address in. I'm going immediately to a quarter mile out and I'm going into Broadstream Privy whatever company software I have Putting the address in. I'm going immediately to a quarter mile out and I'm seeing what kind of neighborhood it is. It's a $100,000 neighborhood, $200,000, $300,000 neighborhood and I'm comparing that to her asking price.
Speaker 1:Now, for most of you that have ever done deals or you've been on the phone with sellers before, if the seller says the price is $200,000, what do we know? We need the neighborhood at minimum to be. What do you want to see? Sold prices in the neighborhood to be at Threes, fours. You better not be seeing any twos, right, you better? Yeah, that's what we're hoping for. So when I say I'm trying to determine which seller bucket they fall in, that's what I mean. I'm not getting a perfect ARV. I'm looking at it and I'm saying, if she tells me 200, I better see 3s and 4s only If I see 250, 275, the price is wrong. It's not discounted enough right out of the gates. I know for some degree we're going to have to have an education process to get her to come down on price. That's what we're determining right now.
Speaker 1:Now there's times where we identify that the seller is not a professional investor. The types there can be divorce, death, inherited, physical distressed property, financially distressed. It can be pre-foreclosure tax delinquency. All of these determine whether they're an emotional or logical type of seller. If it's emotional, one of the things that we have to do is slow down, deal with the emotions throughout the call and then eventually transition it to the real estate side of things, right? This is another reason why, going back to my question, I wanna know that price upfront, because a lot of times emotional sellers are setting their price based off the motivation and the need that they have from whatever is causing them to be emotional for selling the house. So I want to get that out and then really dive in in the open-ended questions about what is the motivation.
Speaker 1:One of the things that's extremely important while we're analyzing the deal is that we are listening to the seller. This is where some people have a lot of issues, right, I'm asking you to analyze the deal and listen to the seller. If you're new to this, only listen to the seller. Too many newer wholesalers default to. I'm only going to come, I'm only going to look at the numbers. I would rather you never look at the numbers and only focus on the seller's motivation and listening to what they have to say and why they need to sell their property.
Speaker 1:It's really our obligation on the phone to understand that and throughout this experience and for anybody that is curious, that middle table right there is a bunch of team members. If you have not used the closures formula, you can go talk to them and ask them. How often are sellers literally price dropping themselves just from us listening and asking questions? How much do you want? $300,000. Tell me what you got going on. Blah, blah, blah, blah. Another question, another question Suddenly, it's $275,000. Another question, another question Really, if I just got $250,000, why is $250,000 an important number? It's really not. It's $225,000. Oh my God, we got them down $75,000. We didn't get them down to $75,000. We just asked and, throughout asking, it eventually comes down. So over the next few days, I would suggest you don't have to come talk to me and Cassie about it. Talk to them about it. They're the people that are implementing day in and day out from our teachings. So, as we're going through this process and we're analyzing if it's time to close the deal, we get it to a price that we want.
Speaker 1:Before we try to close the deal this is another forgotten thing People ask who here has set a contract and been ghosted by a seller. Yeah, you've set a contract, though I was about to say some of y'all didn't raise your hand. Y'all haven't sent enough contracts out because it needs to happen. But when that happens, it normally is because there's a fear of not understanding the process. So, before we send the contract, what we want to do is explain your process from front to back so they understand what's about to take place. This is how the process and this is how we do this.
Speaker 1:Okay, all right, mr and Mrs Seller, if we can come to an agreement on price today, here's what's going to happen I'm going to send you over our two-page contract. Once you sign that, we're going to come out, we're going to walk through the property, we're going to inspect it, going to come out, we're going to walk through the property, we're going to inspect it and if everything checks out to what we discussed today, then we'll be good to close at your price and on your timeline. However, if we come out there and we find stuff that is not what we discussed today, we will have to revisit price and timeline. Does that make sense? If it doesn't make sense, this is our opportunity to talk about it. If they say send over the contract, I need my attorney to review it. What does your attorney need to review? Is there something that we could look over together before you have to spend money on an attorney, I would like my spouses to look over it Makes complete sense.
Speaker 1:When can your spouse look at it? This is where we overcome all of the I'm going to get ghosted objections, okay. So we really want to focus on that before we send the contract. Once we've overcome all of those, that's when we send the contract and we close the deal Keep them on the phone, send the contract. So to be clear, I do not want you to comp the deal before you're on the phone. I want you to comp it while you're on the phone. I don't want you to write a contract before you're on the phone. I want you to write the contract. I want you to send it to them all on the phone. This is a simple process whenever you build up your habits. Right At this point, cassie and I can do this.
Speaker 2:While I'm sleeping.
Speaker 1:I mean, it's not an issue because we built up those skill sets and those habits. If this is something you're serious about doing and you're consistent with it, you get to that point where it's easy. All right Now, before we get out of here, this right here is our gift that we want to give you guys. This is our toolkit. Ok, inside of this, as a PDF, breaking down what the closers formula is, what the web formula is, as well as a market breakdown and some other stuff inside of there. Some other stuff inside of there. Now, the key here, like what Cassie talked about in the web formula, there is absolutely no way in the world that we can teach you how to comp and underwrite speaking on stage in an hour. Why? Yeah right, here's the reason why Because comping and underwriting is constant training. Closing is constant training. Cassie, how often are we comping and underwriting deals for TU members?
Speaker 2:Oh, I mean all day, every day.
Speaker 1:Well, during business days, we literally have a comp portal for the members, and Luna uploaded 72 comp reviews in one day, no earlier when I looked last week it was 51.
Speaker 2:It was 51. And Luna uploaded 72 comp reviews in one day, no earlier. When I looked last week, it was 51. It was 51. All right, I think there's a few more in there now.
Speaker 1:Dude really wanted to learn how to comp one random Thursday. All right, no, I'm just joking. But seller call reviews. We do those inside of TU. Why I just did one, like two months ago, of Tygum. He's been with us since of to you. Why I just did one like two months ago. He's been with us since the first class. Why? Because he's like always working on it. Nobody in here is a perfect closer, myself included. You will never be perfect at comping and underwriting or closing deals talking to sellers. It's a constant work in progress, and so the information that we gave you today and what we're trying to convey to you by speaking on stage is more of a skeleton and a framework that we hope that you adopt.
Speaker 2:Or a formula, because everything's a formula.
Speaker 1:That's why we call it that. But listen, it's something that you can develop inside of your business and start working on it and building up those habits. That is the key to anything that we do here at Titanium and we're seeing it work with our members as well as, over the course of time, our processes have gotten better. Over the course of time, our processes have gotten better, like the last time we were here, when we met Brayden and Abby before they joined.
Speaker 1:There was things that we didn't even really talk about identifying the seller type, the four seller buckets why? Because I was so focused on do these five steps verify that they want to sell, get an asking price, open it in questions, uncover the layers of motivation, analyze the deal and then close it. And then what I learned was is, hey, talking to Cassidy, the professional investor, is completely different than talking to Cassidy in the divorce. Not that I didn't know that, but we need to talk about that. That changes the timeframe of the calls. That, but we need to talk about that. That changes the timeframe of the calls. Identifying the four seller buckets and really knowing what that means and why you should handle those calls the way that they do. That impacts your results. This is going to be the majority of the leads that you talk to are the ones that are the incorrect price, but motivated. Does anybody know what our metric is on closing those?
Speaker 2:Jacob.
Speaker 1:Man you are. So you're such a brown noser bro.
Speaker 2:He's like a good student dog, oh yeah.
Speaker 1:Yeah yeah you're good, everybody else A plus for that guy. All right. Where you at, caesar? You haven't said anything.
Speaker 1:But listen, when it comes to this it is very important. One out of ten on closing the wrong price sellers. What does that mean? Nine times we can fail and still hit the metrics that we need. That is a pretty easy metric to hit, right, cesar. What do you think your metrics are on that? On On Ron Bryce Highly motivated.
Speaker 1:One out of nine Just because you want to be one better. He's just like I'm a real kid. One out of nine just because you want to be one better. You know I'm one better than you, boss, but no, it's.
Speaker 1:It's something that you have to work on consistently and I one of the things that I've come to realize over the course of time. As leads get cheaper, now PBL leads are getting down where everybody has them for like $30. Now they're battling at the different $29 levels and it keeps continuing. Prices are going down. The metrics for us continue to get better. Now we actually have where we can get exclusive leads at $30. It's getting easier and easier for us and all that gives us is more at-bats. Our batting average to be in the Hall of Fame can be 100, 10%, right, that's what we need to be a great wholesaler.
Speaker 1:So, moving forward, as you guys leave here after this weekend, we're going to close some deals here in an hour I'm going to be walking around trying to help you guys close. Cassie's going to be helping you. When we start getting into this, go into it with the spirit of I can fail 90% of the time and be one of the greatest wholesalers in the country. I embrace being the buyer. I'm not chasing this seller. The seller is chasing me. They need me more than I need them. I just need to ask questions, listen, understand and then offer a solution, and if you do that, that's going to change your life.
Speaker 2:I would say. The other thing with this too, is, if you understand it's like about a discovery and if you're establishing yourself in these ways, it's going to be very, very, very comfortable for any one of the sellers in any one of those buckets to talk to you about what they're trying to achieve here with their asset. And if you present yourself in this way, you're going to be presenting yourself as a person who can solve what their need is, or solve a major problem, or solve, solve, solve. You're not going to know everything in a five minute conversation, but I get contracts in five minutes and so can you all right, guys, that's what we got.
Speaker 1:We'll see you guys in like an hour.