Why You Should Always Take Your Shot!

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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

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Want to know what the best markets to wholesale in are? Grab my breakdown of all 50 states here: https://www.titaniumu.com/markets

Chapters

• 0:13 Shooters Mindset Explained
• 0:30 New Wholesalers’ Confidence Gap
• 1:20 Using A Profit Calculator
• 2:18 Imperfect Comps And Assumptions
• 2:37 Fear That Blocks Deals
• 2:46 Dearborn Heights Case Study
• 4:31 Posting And Multiple Offers
• 5:17 Don’t Let Time Kill Deals
• 6:17 Reverse Report Script
• 7:30 Three Questions To Decide
• 8:14 Expectations, Honesty, Action
• 8:28 Comment, Like, And Return

Transcript

SPEAKER_00: 0:13

Shooters are gonna shoot their shot. Now, I'm not talking about like shooting a gun. I'm talking about like basketball shooters, right? Or like my son, hockey players. If you never shoot your shot, you're never gonna make the goal. You're never gonna make the basket. It's the same thing in wholesaling. In the past five years of me coaching wholesalers across the United States, really across the world, one of the things I've noticed is newer wholesalers, the majority of them, really struggle with being confident and decisive on what they should lock up and what they shouldn't. The fear is I'm locking it up too high. They don't want to be like what they see on social media when people make fun of wholesalers for locking deals up for too high. And there's a valid concern there, right? We don't want a bunch of terminations. We don't want to mislead sellers. But at some point in time, you have to build a bridge to yourself as to why this would be a deal if you were going to be the end buyer. Now we have tools out there like our profit calculator that help us determine if it's a deal or not, right? It breaks down what the after repair value is: the holding costs, the closing costs, the amount of repairs needed, and the profit for the end buyer, as well as the assignment fee. And it shows you if you were to offer this, that's the bridge. Now the concern is well, what if the rehab is more, or what if my after repair value is not correct? I get it. You don't have those skill sets built up yet, and so you're concerned that maybe you're wrong. Well, here's the the key no one is perfect when it comes to comping and underwriting. I to this day still make mistakes comping and underwriting. And despite what many would believe, Cassie still makes mistakes when it comes to comping and underwriting because you're making educated assumptions. It's not a proven science where you know exactly how much the property would sell for on the back end, and you're never going to know as a virtual wholesaler how much rehab the property actually needs until you do a walkthrough and you get feedback from your end buyers. So this fear that you have really needs to be eliminated because it's keeping you from potentially making money. Now I've shared this story before, but out of the 125 contracts that I got during the 2023 50-50-50, the one that I would have anticipated was the worst deal that I locked up was a property in Dearborn Heights, Michigan. It's a little suburb of Detroit. And the reason why I locked it up is because we were getting the additional lot next to the house. But I felt like the numbers were really tight without that additional lot. It really wasn't a deal for a flipper based off of just what the house and the rehab needed in the after repair value. But with that additional lot, would that bring us extra value to the deal? Now I didn't know because there were no comps inside of that neighborhood for vacant land because none have sold. So we didn't have really an idea of what the value was on this deal. So shoot or shoot. I lot that deal up. And now going into this, I believed this was the worst deal out of 125 that I locked up. And this includes, you know,$2,000 vacant lots in Nebraska, a$5,000 horrible shit box in Pennsylvania. But this one was the one that I was like, I really don't know if this is going to be able to be dispo'd and make it to the closing table. But Garrett Littleton, this is his first ever deal that he was going to Dispo. And boy, was he in for a treat. The moment that we posted this deal on investor lift, we immediately received multiple full price buy it now offers. And he had to navigate that situation, which he was really not equipped for. Now, the reason why it was such a great deal was because of that additional vacant lot. But if you had asked me before, I probably thought mentally I should have walked away from that deal. I shouldn't have signed a contract with this seller. And I was concerned. I didn't want to let that seller down. I didn't want to have to renegotiate because I knew what the seller's needs were. And it really wasn't an option to renegotiate that deal. But because I was not afraid of failure, I wasn't afraid of letting the seller know the truth. I locked that deal up. And because of it, we were able to move it, and we were able to move it quickly and realize how great of a suburb Dearborn Heights is in Detroit, Michigan. And we were able to get Garrett his first ever deal. Now, Garrett has done deals in 30 plus states and dispo'd all across the United States, and he understands how great of a deal that was. But to the newer wholesaler, they would have looked at that and said, maybe I need to submit this to the Titanium University comp portal. Maybe I need to talk to one of the dispo houses before locking this deal down. And what happens is time kills all deals. See, shooters just shoot. I just right then and there sent the contract, got it signed, did the recon, and then found out we had a great deal. Now, does it work the other way where we shoot our shot and we find out that it's not? Absolutely. And that's part of our process. Every single time when we go to close a deal, we do what's called reverse report. What that means is we're explaining the process to the seller. All right, Mr. and Mrs. Seller, let me explain how this is going to work. If we can come to an agreement on price today, I'm going to send over my simple two-page agreement to you. And once you've signed that, we're going to come out and we're going to evaluate the condition of the property and make sure it's everything that you told us it is today. If it is, we'll be good to close at that price and on your timeline. But if it's not, we are going to have to revisit price and timeline. Does that make sense to you? Now, this gives you the opportunity to go back and after you do the research and you get the offers and the feedback from your in buyers, you can go back with transparency and the knowledge that you've now acquired from your in buyers about where the deal actually needs to be. So the next time you're talking to a seller and you're really back and forth on whether or not you should lock the deal up or not, ask yourself a couple of questions. One, when I look at my profit calculator, do I believe this is a good enough deal that if I were an in buyer, I would take it down? Does it make sense to me? Two, what would RJ do? Would RJ set a contract or would RJ go ask somebody else for their opinion? And then third, did you set up the precedence that if things aren't exactly the way you think they are today on the phone, can you reevaluate the price with the seller? Set those expectations, don't abuse that, but do it with honesty and transparency. And that is how you'll be the shooter that gets more signed contracts. So for those of you that are currently struggling in this situation, I hope this video makes a difference. Let me know if it did in the comments. Show me some love, like today's video, and we'll see you guys tomorrow.