Wholesaling Real Estate Analogies

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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.

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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
Trained thousands of wholesalers to close more deals

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Chapters

• 0:06 Welcome to The King Closers Formula
• 1:43 Lead Generation: Fishing Without Bait
• 9:49 Acquisitions: Being the Quarterback
• 16:32 Dispositions: Turning Deals Into Cash
• 23:42 Transaction Coordination: The Unsung Hero
• 29:41 Final Thoughts and Between Two Belts

Transcript

SPEAKER_00: 0:06

Welcome to the King Closers Formula. I am the King Closer RJ Bates the third coming to you on this beautiful Tuesday at 2 22 p.m. Hope you guys are having a beautiful day. I know I am. Today we're going to be doing something that everybody loves because everyone loves a good analogy. So today I'm just going to be using analogies to what I feel like are the key fundamental elements of wholesaling real estate. The areas inside the business where you truly need to be focusing your skill sets and making sure that each and every day you're growing and getting better at these different factors in wholesaling real estate. And those being lead generation, acquisitions, dispositions, and transaction coordination, the four key fundamentals. If you can do those four things inside of a wholesaling business, you will be successful. The reason why we're going to be using analogies today is for you to kind of think about it a little bit differently. Because every now and then we get lost in the weeds, right? There's a lot of shiny objects out there, there's a lot of different strategies and a lot of noise inside the industry. So we want to use these analogies to kind of point you in the right direction, make you understand exactly why these different factors and these different elements inside of wholesaling are that important. So you can say focus on growing inside of your business. All right, let's start off with lead generation. Lead generation is like going fishing without bait. And I love this analogy because the reason is nowadays we literally have the ability to go get leads just like you can go to the store and buy bait when you're going fishing. Let's see, I grew up on the lake, right? Lake Fork, East Texas. My parents had like a travel trailer that we would go to. We rented out a little slot, and it was right there on the lake. And we would off of the pier, I'd go fish for Brem, crappie. Then we had a boat and we would go out there and we would fish for bass. Now, I didn't really enjoy fishing as a kid because I like playing sports, I like the activity, and I didn't really understand how relaxing fishing can be, and I don't really do it now, but I have fished plenty of times in my life. Now, there's different ways that you can get bait, right? You can get live bait, or you can use the fake word, like the worms and the spinners and the rattle traps and all this different kind of the fake bait that you can buy. It's the same thing inside of wholesale and real estate. We can go buy all kinds of different leads, PBL, right? We use speed lead, lead solo property leads. There's other PBL companies out there that you guys have asked me about, but then we could also do direct mail, we can do cold calling, door knocking, driving for dollars. There's so many different things that we could do. However, as a wholesaler, you have to have leads. As a fisherman, you have to have bait, some sort of like way to attract the fish to come to you. It's the same thing. Wholesalers, we have to have the motivated seller, we have to know who we're talking to. Nowadays, it's as easy as it's ever been to know exactly hey, this person has a house they want to sell. That's why I've consistently said we are in the golden age of wholesaling, not because of the regulations that are coming down, how saturated some markets are, all the complaints that we have. I'm like, hey, let's pump the brakes for a second. Let's actually just be grateful and thankful for the opportunity that exists in front of us right now, today. The fact that just like a fisherman, I can walk into the store and I can say, Give me leads. That's where we are as an industry. So be grateful for that opportunity that exists. Yes, does it cost money? It does. But as an entrepreneur, all businesses should require some sort of operating capital. And as PPL has become a larger part of our industry, the lead cost has come down, right? When PPL started, speed the lead was like the first to the market, and when they came out, it was two to five hundred dollars per lead. Now, every single lead generation PPL company out there has a$30 option available for you. So the costs have come down, it's made it more easy for you as a wholesaler to walk right into the bait store and say, Give me some bait. The next one is it's like pouring concrete for your house. Your leads are the foundation, you have to have that foundation in order for your business to succeed. Can't build a house just directly on the ground. You have to have that foundation first. It's the first thing that you do when you're building that house. It's the same thing inside of your business. You have to know what you're going to be doing for lead generation inside of your wholesaling operation. So each and every member of Titanium University, when they come in and during their orientation call, I tell them, I need you to make a 90-day commitment to a lead source. If you are already generating leads, I do not necessarily need you to change, but I do need a commitment to some sort of lead generation tactic. And I think each and every one of you that are watching this video today would do a great service to your business to make a similar type of commitment to hey, this is what I'm going to do. If you don't want to do BPL, if it's just cold calling, whatever it is, you have to have that because the otherwise your wholesaling business has no foundation. Everything else that we're going to talk about moving forward in this video is irrelevant if you don't have leads, right? This is this is what kills me about newer wholesalers where they're like, hey, can I go get deals off of Facebook Marketplace, FISBOS, Zillow, MLS? Sure, you can. At some point in time, you have to find a way to where you can have consistent lead flow coming into your business. And if you're always relying on something else, like sellers putting their house up for sale for sell by owner, putting them on Zillow, or going out to a realtor who's doing lead generation and then listing the property, well, then you're competing against all of your in buyers, all of the owner occupants, and everybody else. What value are you bringing to your in buyers? It's just not a sustainable business model. So make sure that you have some sort of consistent lead generation going on inside of your business. And the final analogy for lead generation is it's like planting seeds. Okay. You can't eat tomorrow if you don't plant today. One of the most demoralizing things for anyone that does acquisitions inside of a wholesale operation is not having consistent leads inside of their business. If you're just staring at the same leads day in and day out, and you're constantly following up, leaving voicemails, calling that seller who never answers the phone, you're gonna feel like you're wasting your time. Going all the way back to the 2023 50-day challenge, you probably, if you've watched any of those videos, you've heard this voicemail. Hey, this is Georgia. Leave me a voicemail. I never got a hold of Georgia. I called her every single day. Now, the benefit for me was is that every single day I had new leads, I had fresh crops. We were planting those seeds day in and day out, and you need to be doing the exact same thing inside of your wholesale business. It doesn't have to be a ton, it can be two new leads, five new leads. Whatever that looks like to what you can afford, you need to have that coming in because every single day you should be getting a hold of sellers and coming to some sort of resolution, whether that's we sent them a contract now, that property is under contract, or it's not going to work out for us. We're not the solution, someone else needs, and we kill that lead. We need to replace that with a fresh new lead that day or the next. So constantly be planting seeds inside of your business so you can have fresh crops. All right, let's move on to the second thing. Acquisitions, what I specialize in. All right. Now, acquisitions is the heartbeat of your business. It's also like being the quarterback of your business. Everyone is going to rely on you. Now, you can have the best leads, aka the best wide receivers, the best catchers in the game. But if you can't make the throw, the play's dead. As an acquisitious person, whether it's you or someone else, everyone else, the lead generator, however you're generating those leads, dispositions, and transaction coordination, is going to be waiting on you to perform. And that's the same way it works on a football team. Yeah, we have the running plays, but when we drop back to pass, everything is on the quarterback's shoulders. As an acquisitions person, you are the quarterback of the wholesale operation. You have to make sure that you can complete the pass and close the deal. This is why I talk about the closers formula over and over and over again. It's why 20% of the weekly implementation calls inside of Titanium University is solely based around live seller call reviews. That's how important it is. We need to take 20% of the time that is available for the entire community to just break down our ability to navigate the conversations. And I tell the TU members, I only want to really listen and review the calls with the sellers that are motivated with the incorrect price. That is the most common type of seller that we're going to talk to. How do we navigate those conversations? That is what will differentiate you from being an average wholesaler to a top 10% in a great Hall of Fame wholesaler. You have to be able to complete that pass when it's difficult. Most people can handle the lay down leads. It's whether or not you can actually listen, uncover the layers of the seller's motivation, identify how you can be their solution, and then close. Can you explain your process? Can you build credibility with the seller? Not necessarily building rapport, but credibility where they trust that you are their solution and you can close their deal. That is being the quarterback of your wholesale operation. The next analogy is closing is like it. Well, if you can't close, it's like having the greatest steak out there, right? The finest cut that you could possibly get. But if you don't know how to cook it, it doesn't matter. See, nowadays we have the best leads that we've ever had. Sellers that we know before we even purchase the lead. I am selling a vacant, non-occupied house for emergency reasons, and it needs a ton of work and it's in a great market. If you had told me that that would exist in 2018, I would have been like, oh, praise Jesus. There was no way in the world for us to know how to contact that seller. Now we can see that before we even swipe our card. Now it's the finest lead out there, the finest cut of meat. We have to know how to cook it. We have to know how to do it. Now you can't just throw it in the microwave, you ruin it. You have to go in and really handle the seller's situation. They're coming to you and saying, for emergency reasons, you have to be able to underwrite it correctly because they're saying my house needs a ton of work. You have to be able to build the credibility and show them that you know how to handle their situation. You are the real estate professional. You can't drop the ball. And if you're looking at this and you're pointing everywhere else and saying, Oh, the reason why I'm not closing deals is because speed leads, triple verified leads are trash, or hey, you know, this doesn't work over here. It, I am here to tell you that you are mistaken. Okay. It's not the leads, it is a skill set issue. You have not developed, you have not taken the time to develop your skills, and you're feeling the pressure of the fact that you're not making money. Everyone feels that to a certain degree as an entrepreneur. It is difficult, it is hard. Just because we have the finest cut of meat doesn't know that doesn't mean that you know how to cook it yet. You have to take the time to develop the skills necessary to be able to close these leads, even though they're the best leads that we've ever had. The last thing is it's like proposing marriage. All right, it doesn't matter how good your relationship is if you can never pop the question to close the deal. See, this is what happens. A lot of people will get on the phones with sellers and they'll build all this rapport, they'll understand their entire life. I was talking to a TU member the other day, and she's like, I don't know what's happening here, but I mean, I get in the point where I know that the husband is cheating on the wife, and I know the girlfriend's name. I become a therapist, I'm their best friend, but it's not leading to a signed contract. You gotta ask the question, you gotta go for the close on these on these leads in these conversations, and this is why I get a little bit irritated when people are like RJ's the one dial close guy. That's always the objective is to get to the resolution and to close it on one dial, and you should. The key here is that unless there's some reason as to why we cannot come to a resolution, we should be popping the question on that initial dial. They need us, and we are their solution. Don't be afraid to ask for the close, don't go into the friend zone, don't go into the therapist zone, right? Pop the question, get a yes or get a no, move on. All right, let's talk about our third fundamental element, which is dispositions. This is the area in which the industry for so many years has been saying if you have a good deal, it should be able to sell itself. Well, I disagree with that. I disagree from the perspective of you have to have a way to turn the lights on and for the in buyers to know that your deal exists. And so there are skills that are necessary to develop when it comes to dispositions from the perspective of marketing, right? You have to have skills in copywriting, showcasing what the property, why it's a good deal, and building relationships with these in buyers. So, first analogy is it's like throwing a party. It doesn't matter how good the party was gonna be, how good the food is, if no one shows up. You could have a great deal, you could say, Hey, we're gonna be having a buyer walkthrough at Friday at 11 a.m. But if no one shows up, who cares? You gotta let the people know how to buyers know that your deals exist. Now it's not from calling a bunch of them, cold calling, and asking them up front what's your buy box? It's from actually developing that relationship and knowing, hey, this person buys here, and now with the technology that exists, whether it's investor base, investor lift, alpha, deal speed, there's more and more technology that's coming out every single day when it comes to dispositions. We can actually see, hey, Joe Bayer over here bought a property one street over for the same price that I'm gonna be asking, and it's a blueprint comp and he flipped it, and I saw how much money he made, I saw how long he owned it, and he just sold it last month. And when you call that buyer, you're not saying, hey, what's your buy box? What you're saying is, hey, Joe, I saw that you bought 123 Main Street and you owned it and you flipped it, and I saw that it worked out well for you. As long as the rehab, you know, I don't know how much you spent on rehab, but it looks like it was a good deal. I got another one for you. Are you looking to pick up another property just like that one? More often than not, the answer is absolutely. Now, that is the value that you could bring today as a wholesaler in comparison to when we didn't know that, right? These softwares now have their contact information. You can see the properties, how many they're buying. See, back in the day, we had the cold call them and say, How many properties are you buying? Are you looking to buy more? You flipper, you landlord doing all this. That's old school, it's outdated nowadays. This is why there are wholesalers out there that are only focusing on dispositions, they're called dispo houses. And the reason why is because they've seen the low-hanging fruit that exists. Hey, other companies want to go do the lead generation and the acquisitions. All I need to do is focus on dispositions, and those people, as they develop these relationships, I see the post inside of the vault and inside of the TU group where it's like, I've got a buyer begging for deals in Maryland, I've got a buyer begging for deals in Birmingham, Alabama, and then all of a sudden what happens is boom, deal, deal, deal from the acquisitions partners. So if you right now are not focused on dispositions and you're like, hey, I'm gonna get started on lead generation and acquisitions, I think that's a solid step, right? You don't need to stop what you're doing to then focus on dispositions. You can lean on these companies that exist. Now, in order for you to have access to some of these, you might need to be a part of a community like Titanium University. I mean, we've got Mr. House, Braden and Abbey. We just had them on a Tuesday live a couple of weeks ago. We've got Nico Alfazio, we've got Maximilian Deere, we've got Britney Shahuber, we've got Adam and Stephanie Bevin, we've got the Matt's, Matt Doble and Matt Bombic, just to name a few inside of Titanium University, and that covers the entire unit that like the entire United States, and that's not even including what we can do at Titanium Investments. So now, as newer people join titanium university and they go out, yeah, guess who could throw the party? Us, the people that already know everyone that will attend, so we can move those deals for them and they can stay focused on lead generation and acquisitions. The other thing is the next analogy in regards to dispositions is it's like having a winning lottery ticket and not cashing it in. It is so demoralizing as a newer wholesaler in particular to do lead generation, spend your hard-earned saved money or earn money, get leads, lock up a contract, do acquisitions, and then not be able to dispo it because you didn't know the buyers. You couldn't cash in on your winning lottery ticket. That is so demoralizing. So here's the thing: yes, the softwares exist. I believe that in the long run, you should absolutely learn how to do dispositions yourself. However, you need to have someone in your back pocket that can help you move deals if you can't do it yourself. Because otherwise, you are literally going to be taking that winning lottery ticket, crumbling it up, and throwing it in the trash. And that is crippling to your business. I have seen newer wholesalers come in, lock up multiple contracts, not be able to cash in that winning lottery ticket, and then move on. Okay. The next thing is it's like owning a Ferrari and not having gas, right? You've you've got what everyone needs a deal. If you can't do dispositions, it kills your business. Okay, so I think you guys understand that. What I would tell you is one, if you want to do it yourself, you've got to look, you've got to invest into the systems that exist nowadays, right? Investor base, investor lift, alpha, deal speed. Okay, you've got to look into those. You've got to be able to have that inside of your business. If you can't afford that right now, or if you're newer, one of the things that you don't want to do that to avoid creating the roller coaster effect inside of your business, outsource the dispositions to someone else. Utilize these dispo teams. All right, transaction coordination. This to me is one of the most underrated skill sets that is needed inside the wholesaling industry. And I get it because there's times where we get deals and it's so smooth that you feel like transaction coordination is almost not needed. Sometimes you can come across a title company or a closing attorney that is so amazing they prioritize your deal, they manage everything, they schedule all of the signings and everything, and the communication is amazing, then it's not necessary. But if you lose the deal because of transaction coordination, you realize how bad it is. So for me, the analogy is it's like the pit crew for a race car team, and I'm a NASCAR fan, so we'll just use NASCAR. Nobody cheers for the pit crew, everyone's gonna cheer for the driver and going back to acquisitions. You're the driver, all right. No one's gonna cheer for the the the gas man, the jack man, the right tire changer. But man, let me tell you, those guys get put on blast when the car comes into the pits and they make a mistake, or you lose a race because you don't have any gas, you can't change your tires. Yeah, it's gonna be crippling to your wholesale business if you do lead generation acquisitions, you do dispositions, and then your deal cannot finish the race, you can't get to close it funded because of transaction coordination. Now, I've always said for everybody that's newer, there's absolutely no reason why you shouldn't just use easy REI closings. You can find out more about them at titaniumtc.com. They now have it to where, hey, you don't have to pay us up front. Go assign your deal, have the buyer pay for it. So when you do your marketing inside of dispositions, just say buyer to pay all closing costs plus TC fee, and they will add their charge on the HUD to the end buyer, and then you get your property transaction coordination done for free. Now, to me, there's that makes it a no-brainer, but still people will sit there and say, you know what, I'm gonna outsource this to someone that's cheaper. I'm gonna hire a virtual assistant that can come in and do my transaction coordination, or I'll just do it myself. I think that's a mistake. Like a wedding planner. Now, could we all come up with the cake and the photography and the seating charts and everything inside of a wedding? Sure. Seems pretty simple. However, for a wedding planner, they do that as a living, they're professionals at it. They have a checklist and they have an SOP on exactly how to plan that wedding out and what goes wrong, what normally goes right, what's a priority, and what's not a priority. Now, if the wedding goes off unhinged, then the wedding planner is hey, paid, compensated, great job. But if the wedding weren't to go off and you didn't have a wedding planner, wouldn't you wish you had one? That's how I feel about a transaction coordinator. If I get a property under contract and I dispo it, do I want to have to stop? And I literally have deals that are closing right now that have email threads that are 60, 70, 100 emails deep. Now, if I am doing all of that email communication back and forth, how am I doing acquisitions and dispositions? I'm not. And see, this is again where newer wholesalers will totally cripple their business by being cheap. I'm not going to pay for a transaction coordinator. I'll just do it myself. I can't afford it right now. I need all of that$10,000 assignment fee. If you need all of that$10,000 assignment fee, how are you going to feel if you have a zero-dollar fee? Because your deal doesn't make it to the closing table, because you wanted to be cheap and not pay for a transaction coordinator. These are the mistakes that I see newer wholesalers make. Quarterback gets all the glory, acquisitions, but without blocking, the quarterback can't do anything. Dispositions, acquisitions is irrelevant if the deal falls apart during transaction coordination. That is an absolute fact, and it happens over and over and over again. I see wholesalers say, RJ, I've heard what you had to say about transaction coordination, but I need to learn how to do this myself. Okay. Learn by watching the professional. Don't learn by doing terminations and having deals fall apart because you didn't know how to handle that situation. And now knowing that you can have the transaction coordination fee paid by your buyer, what is your excuse as to why you would not want to use easy REI closings? So check them out at titaniumtc.com. Ultimately, across all of the factors inside of a wholesaling business, I feel like lead generation, acquisitions, dispositions, and transaction coordination are the four that you should be prioritizing inside of your business every single day. I feel like if you're newer, lead generation is easy. You can do that now with a swipe of a card. Acquisitions, all of the training exist on my YouTube channel, and with the free resources that are right down inside of that description below this video or this podcast that you're listening. To you could go and you can download the King Closers formula, the web formula, know what markets, title companies to use. We give all of that away for free. So acquisitions should become a strength inside of your wholesaling business. Dispositions. Early on, partner up with someone that has dedicated their career to doing that, just like transition coordination. Eventually, you should invest inside of those softwares and learn how to do that, but only once you have understood exactly what you're doing for lead generation and you're already consistently getting signed contracts. You don't want to create the roller coaster effect where you get properties under contract, you dispo them, you have money, but now you have nothing to assign. So you spend money to get your next contract, and then you're back up, and then you're back down. You want to avoid that at all costs. So partner up with people that can dispo your deals. And with transaction coordination, do not sleep on that. It will cost you deals, it will cost you tens of thousands, if not more, and close and funded deals. All right, everybody, make sure you like today's video. Show me some love just so you know. I did trick you. I haven't been ignoring your comments. It's just I'm recording this at 12 40 p.m. on September 20th. Between two belts. So brace yourself and get ready for me releasing more of my humorous, roast type podcast interviews. It's all satire. I love each and every one of the guests, but I love doing that. So brace yourself for the third season of Between Two Belts, which will be back very, very shortly. Show me some love. Like today's video. We'll see you guys tomorrow.