The Titanium Vault hosted by RJ Bates III

From Useless A.I. To Saving A Deal | The King Closer Reacts

• RJ Bates III • Episode 639

Share episode

Want to work directly with me to close more deals? Go Here: https://www.titaniumu.com
Want the Closer’s Formula sales process I’ve used to close 2,000+ deals (FREE) Go Here: https://www.kingclosersformula.com/close


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

_________________________________

With over 2,000 Videos, this is the #1 channel on YouTube for all things Virtual Wholesaling. SUBSCRIBE NOW!    https://www.youtube.com/@RJBatesIII

_________________________________

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

Support the show

SPEAKER_03:

What's up, everybody? Welcome back to the King Closer Reacts. I am the King Closer RJ Base III. This is the series where I watch other people's videos so you guys don't have to. Let's get into the first video.

SPEAKER_04:

One of the most creative deals that I've done was actually a student rental property, and I don't do a lot of student rental properties, but this was something that a wholesaler was selling. So I bought this property off of a wholesaler and I ended up wholetailing it myself. Wholtailing is when you essentially close on a property and then sell it immediately for more than you just paid for it. And that was what I did with this building. I bought it off the wholesaler and I essentially sent a cleaner through, cleaned it up, took some professional photos, got rid of the furniture, and then immediately relisted that building. And when I did relist it, once it hit the MLS, I actually ended up knowing the buyer who was coming across the deal, and we structured it creatively on the sale as well. And we did he did it with 5% down and we did cash back on closing. So 5% down, he was able to say he's gonna be moving into the building. So very low down payment, and we did cash back on closing, which allowed him to be in for zero dollars out of pocket on that deal.

SPEAKER_03:

So what I will say is wholetailing, I feel like has kind of resurrected itself over the past several months and become more common on our in buyers than even flips and rentals. Um, which this was happening a lot back in 2021, right? Almost everybody was feeling like wholetailing was the way to go because the market was so hot that you didn't really have to rehab houses and you could still get uh pretty close to the after repair value. Now, I feel like the reason why wholetaling has come in is because the market isn't hot, it has actually slowed down, and investors are actually wanting to sell the property at a lower price point to make it more attractive to the properties that are fixed up and are selling at a higher price. Now, what does that mean for us as wholesalers? That means we need to be buying deeper than ever because if your in buyers are going to want to wholetail the property, we have to account for that. So, case in point, in this scenario right here, I don't know the exact numbers, but majority of in buyers are saying, like, hey, I'll buy at 70% of what the property could sell for today, with very little or if any work at all done on the property. That's a very common occurrence. So, for the wholesalers, pay attention to those in buyers. They could probably be some of your highest volume in buyers.

SPEAKER_02:

Look, if you're new to wholesaling, your explanation of wholesaling is typically really bad. Let me give you a pro tip here. Stop saying assigning contracts, transaction coordinating, or double closes. It just kind of sounds like a robot is talking. And with most sellers, it does not compute. So here's what you should be saying. Hey, I'm a real estate investor. I find sellers who need a quick sale but lack the time and resources to find a suitable buyer. I either pick up the deals myself or I connect them with an investor in my network who wants to get the deal themselves. I get a quick finder's fee, everyone wins, easy. Now, sometimes a seller might say, Hey, is this a scam? Just respond, no, it's just a quick cash sale, no fancy repairs, and no waiting months on end for bank approvals. And bonus tip if they're still confused, you're likely talking too much and you're overwhelming them. Talk less, keep it simple, close more. That's how it's done.

SPEAKER_03:

Okay. So he does have some good points, but I'm gonna disagree with the whole response to is this a scam? One of the easiest ways to get across is this a scam is by using the actual term that the seller then can go look up and see that it's not a scam. So if you say, hey, this is just a quick, easy cash sale, that is true to a certain degree. But if you were to explain what wholesaling is and then use the definition that he gave, right? I'm gonna come in, I'm gonna find that in buyer, I'm gonna get my finder's fee or an assignment fee, is what it can you can look that up. You will find that that will allow you to build credibility with the seller because then they can go Google that. They can actually look up and see what is it that I'm partaking in. It's the same reason why I believe if you're going to do solid financing, sub two, novation, you should actually use the term. It's not about being a robot or overwhelming them, it's about building credibility with transparency so they can actually see what you're offering is a real legitimate strategy.

SPEAKER_05:

This is how much I made last year wholesaling real estate. Month number one, I spent$32,100 and closed nine deals for a total profit of$200,581. Month number two, I closed five deals for a total profit of$117,736. Month number three, I closed six deals for a total profit of$199,436. Month number four, I closed a total of seven deals for$319,432. Month number five was a fantastic month, total profit of$332,191. Six closed nine deals for a total profit of$253,445. Month number seven, unfortunately, we had a bunch of deals pushed to the next month. So we only closed seven deals for a total profit of$183,565. Month eight, we closed nine deals for a total profit of$284,079. Month nine, we had the second most amount of deals closed in a month for a total profit of$267,100. Month 10, we only closed four deals for a total profit of$106,000. Month 11, getting into the holiday season, we closed 11 deals for a total profit of$202,780. Month 12, we got some Christmas deals going. We closed eight deals for a total profit of$171,818. That's a total of$2,638,252 in assignment fees, wholesale in real estate last year. Give your boy a follow if you want to see exactly how to wholesale real estate.

SPEAKER_03:

That was one of the more interesting reels I've ever seen. Uh, literally just math. Like we're just gonna break it down month by month. It was a good insight into what was going on in his business. I loved at the beginning how he was showing how much he spent on marketing and what that translated to in assignment fees. He kind of got away from it in some of the months. He had no marketing in some of the months. I don't know if it's just because of records, he didn't want to do the time to look it up, whatever it was. But I will say what you did notice was is some months, you know, he spent less on marketing, assignment fees went up. Some months he spent more, and then assignment fees went down. And this is what I want everyone to understand is that whatever you spend on marketing, it doesn't necessarily correlate to that's what you are going to make that month. Okay. So if you're gonna go out and you're gonna spend$20,000 this month, really what you need to pay attention to is what you're gonna make over the next three months on that marketing return. Okay. And then that should carry over for the rest of the year. And that's why I would have loved to have seen some consistency there with the marketing budget. I was seeing months where it was like 30,000, 40,000, 20,000, and it was kind of all over the place. I don't feel like budgets are necessarily uh mandatory inside of a wholesaling business. I uh my personal opinion is you should always be pushing the envelope just to see what your acquisitions team can handle, especially if you're performing like this guy is, right?$2.6 million in assignment fees, like they were they were moving, they were hustling throughout the year. Um, and I'm wondering if on some of those months where he didn't share, if he kind of throttled down on the marketing sum. And that's why he didn't share that. But uh overall, wholesalers, pay attention to that. Whenever you spend your money, pay attention to what you receive over the long haul on those marketing terms, not just necessarily that specific month.

SPEAKER_01:

Yesterday, ChatGPT dropped something crazy. They have this new app integration, but what we're gonna talk about is using the Zillow app within ChatGPT. So this is absolutely a game changer, and I'm gonna show you how it works. Once you manually add the Zillow app to ChatGPT, which if you don't know how to do it as ChatGPT, I'm using the voice function features here to say, using the Zillow app, I want you to find me homes in Port Washington or Manhasset, New York for under$1.6 million. I want three to four bedrooms, at least one and a half bathroom, and I want them to be on the market for at least 30 days. The reason I said at least 30 days is because it's a seller's market here and something that's been on the market for over 30 days, there may be some opportunity to find a deal. But you could put in any type of search result that you're looking for instead of having to have to go onto Zillow and type in all of the filters and add all of that stuff in. But look how quickly it's finding these results. I mean, you could even think, you know, I want these parameters, but also zoned for this elementary school. So you can just kind of go in here and then click around, see the properties, request the tour. Uh, I mean, this is really nuts. And for real estate agents, I mean, think about how much easier this could make certain things for you and think about looking up comps. So I want you to comment what you would use this for.

SPEAKER_03:

Oh my god. Oh man, that's called a filter. It actually just already existed for many, many, many, many, many, many years on Zillow. You you actually don't have to go to ChatGPT and wait on it to search and search and search. You can actually just go on to Zillow, click the filter button, enter all of that, and it'll show you the exact same thing. This isn't like a new thing that Chat GPT brought to the table here. Oh man, people are obsessed with what AI is uh going to be able to do for us in the future. Yeah, it does some things for us now. Um, like for example, this morning I listened to this cover of Khorne's Freak on a leash, but like the soul version, like that was filthy, right? Like that's something that AI did that's like, hey, you couldn't do this in the past. This right here, this all has always existed. We've always been able to go into Zillow and just add filters. Um that was cute.

SPEAKER_00:

So, what are you saying when the seller said I need to think about it? This is when most wholesale deals fall apart. But if you follow this line right here, you can save your deal. You need to let the seller know you definitely understand the situation and that selling this property is a big decision for them. So let me be helpful. What exactly do you need to think over? Is it the price or is it the timeline? Or is it working with me? This allows them to open up about what they're really thinking about, and then you can handle those specific objections. And that's how deals get saved.

unknown:

What do you say?

SPEAKER_03:

Why did he end up always in a different part of the football field? Why didn't he just keep walking? I don't understand. Uh, getting back to the objection, the only thing I would say is he's right. You should ask the seller what do you need to think about? Think about how I just said that. What do you need to think about? It could be many different things. But when you say, What do you need to think about? Hold on, shut up. Let me give you some options. It's now a multiple choice question. Is it price? Is it timeline? Is it me? Let me add a fourth option. Is it your poor ass questions? Right? See, it's got to be open-ended. This is the difference between an average closer and a really skilled closer. See, if you go in and you say, what is it that you need to think about? Now you've given them the option to choose. Because if you only give them those three options, if it's not one of those, you're never gonna get the answer. You're leading them, you're steering them in a direction, and you never want to do that as a closer. Remember, it's not about you, it's about them. And so we need to hear what the actual true reason is they don't want to make that decision today. And what I will also say is if you are getting that objection, more often than not, it's because you didn't do something right in the previous, I don't know, 10-15 minutes before you got to that point. So think about that. If you get that objection a lot, it's because you're not doing something right. All right, guys, that's our episode of the King Closer Reacts. And like I said, this series is all about me watching these dumbass videos so you guys don't have to. I can tell you exactly what to do and not to do. Let me know if you enjoyed today's episode. Show me some love, like today's video. We'll see you guys tomorrow.