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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
Should I Pass On Small Assignment Fees? | Wholesaling Quickies
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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
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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
Welcome back to Wholeselling Quickies, the series where I try to get my idea out before your short attention span disappears. Today we're going to be talking about should you do smaller assignment fees? You know, those little bitty tiny deals. A lot of people in the industry say don't waste your time on doing smaller deals because they're the most difficult, they're the most time consuming. The profit, the juice isn't worth the squeeze. But I'm here to tell you if you are going to be a virtual wholesaler, doing smaller deals is absolutely necessary. And I'm going to tell you a story and the reason why. I shared this a while ago, but the first deal that we ever did with a TU member named Claude was a small$2,500 assignment fee. Now, to most people, they would look at that and they'd say, that's not even worth the time and effort. And to be honest with you, it was a little bit difficult for us to get that deal moved. And it wasn't the most simple of wholesale transactions. However, what it did was it established a relationship with Claude as a buyer. Now, in the initial video where I talked about this story, I shared how Claude then turned around and a couple weeks later bought a deal from us for a$25,000 assignment fee. Well, now I'm here to wrap up this story and tell you this is why you absolutely need to be doing each and every deal. And each deal then determines how much money you make. So Claude bought that deal from us for$25,000. He did a little bit of repairs, he listed it, he sold that deal on the market and made a significant amount of profit. He's a happy buyer, he's super excited. He wants to continue to work with us and he wants more deals from Titanium Investments. But that's not the point in today's story. The point in today's story is that what came from us doing that deal with him led to him establishing a relationship with a realtor in that local market who just brought him a deal that he has already assigned, and it is an escrow with$10,000 non-refundable EMD for a$100,000 assignment fee. That is life-changing money from one deal. And it all stemmed from us doing that small deal, that$2,500 deal in Texas, that led to us doing a$25,000 assignment fee in Tennessee, which led to him making profit. I don't know the exact amount, but I'm going to assume that my math is correct. It was somewhere around$50,000 profit on that. That now has led to him making$100,000. We get love, praise, admiration from Claude as an in-buyer, saying this is how wholesalers are supposed to take care of their in buyers. Now, as a virtual wholesaler, when you look at doing smaller deals, the reason why it's important to not write them off is because there are many locations throughout the United States where just due to the price point, it is damn near impossible for you to make a larger assignment fee. So if you're going to be virtual and you're going to be at throughout the United States, there's going to be times where you're going to have to do a$2,500 or a$5,000 or a$7,000 assignment fee. It feeds the kitty, it feeds the machine, so you can keep doing lead generation so you can go find those$25,000,$30,000,$50,000 assignment fees and take care of your in buyers. Bring them solid deals. It's your job to get the assignment fee, your profit to the level in which it needs to be during acquisitions. And you do that by solving the seller's problem and bringing a great deal to your in buyer. And in the long run, it all works out. And that's where we end up with a nationwide average of a$15,000 assignment fee. So small deals, they make a difference. Now, what I want you guys to do is let me know if you agree or disagree in the comments. But regardless, show me some love, like today's video, and we'll see you guys on the next wholesale on quickies.