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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
One Of My Favorite Questions To Ask Sellers | Wholesaling Quickies
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
Welcome back to Wholesale and 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 one of my favorite open-ended questions to ask each and every seller, which is, how'd you come up with that price? Now, the reason why I love asking this question is because it really gives you deep insight to where the seller is coming from in regards to both price and motivation. What I mean by that is if you're following the closer's formula, you verify that they want to sell. Yes, awesome. How much do you want for the property?$150,000. Then you want to ask them, tell me a little bit about what you got going on. You find out. What I see a lot of times is we get stuck. You guys ask in the comments, RJ, could you do an episode, a video about open-ended questions? Well, yes and no. There's some go-to questions like how'd you come up with that price that can elongate the conversation and get them to open up. But the reason why you really want to understand how they came up with that price is not necessarily because you're going to agree to it, it gives you an understanding of their thought process. Sometimes, if you say, How'd you come up with that price? they're going to say, Because I owe X and I need to walk away with this to move on with my life. Without that money, I can't move on. Okay, well, that makes sense. Now we understand the problem that we have to solve. But if you ask, How'd you come up with that price? and they say something silly like, well, that's what Zillow said, or I talked to a realtor, then that gives you a different perspective and another talking point inside the conversation. One of the things that we always want to do when we talk to the most common type of seller, which is highly motivated, incorrect price, is to educate them. Now I use this analogy during an implementation call the other day. But when I talk to my children about their homework and they go, hey, Data, I don't understand what the what this question is asking, or I don't understand how to do my homework. I don't walk over there and just give them the answer. That's not educating them. I always make them show me how to find the answer. And I make them educate themselves. Well, we want to do the same thing with the seller. So how'd you come up with that price? Well, Zillow said it, or I felt like I was giving enough room in there to be profit. Okay, makes sense. How much do you think the property would be worth once it's completely fixed up? Ask the seller that. So they're going to tell you a number. And how much work would I have to put into it to achieve that value? Now let's just use simple math. If the property is worth what you said, and I put into it the number of amount that you gave me for rehab, and then I paid you your asking price after holding costs and closing costs and profit. Let's see how much profit I have. And then just walk it through. Does that number make sense or does it not make sense? This is how you truly educate the seller and get them to understand where we're coming in. This is why I never want you guys to do a low ball offer. I want you to truly have a conversation where it makes sense to the sellers where we're coming in on our offers. And that is how you educate them. So every time you ask a seller and you get a number out of them on their asking price, you should always ask the open-ended question: how did you come up with that number? And from there, it opens up the possibilities for you to truly understand where they're coming from, whether they're logical, emotional, it's truly a part of their motivation, or it's just a guess. You're the real estate professional, but you don't just give them the answer. Make them walk you through and explain it to you. And that is how you reverse engineer educating the seller when you're talking to the most common type of motivated seller. Let me know if you guys have used this tactic inside of the comments. Show me some love. Like today's video, and we'll see you guys tomorrow on another wholesaling quickies.