The Titanium Vault hosted by RJ Bates III

The REAL Difference Between 2008 and 2025 Economic Downturn | The King Closer Reacts

• RJ Bates III • Episode 668

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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
​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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SPEAKER_02:

What's up guys? Welcome to the King Closer Reacts. I am the King Closer RJ Base III, and you know this series. This is the one where I'm gonna watch a bunch of videos that disagree with them and tell you what you should actually believe. Let's get into the first video.

SPEAKER_01:

I went through the 2008 crash. It was nasty, crazy. And it was way worse than this. It was way everybody says it's like 2008. No, it ain't. This this ain't really that bad. Shit is still selling. In 2008, everything stopped. There was no transaction, nothing happened. So it's still transactions happening, but the real skill comes out right now. How creative can you get to diversify and vertically integrate? And how deeply discounted can you guys buy? Because the game of just buying anything and throwing an MLS is over with. You gotta have the best product, you gotta be in the best area, and you gotta be the what? Cheapest cheapest. Stop trying to make up. I got partners right now, you know. I and I'll ask, hey, dude, you dropped the price yet? It's been two weeks we hadn't even got a showing. I'm like, uh no why? It's only been two weeks. Dude, if you ain't got a showing in the first week, drop the price. And you drop the price every single week. I I took control of all my partners that all the realtors we're dealing with, they all have to report to me on Monday. And I asked, hey, did we drop the price? I'm dropping the price every Monday if we don't get showings and we ain't getting offerings coming in.

SPEAKER_02:

Oh, Chris Rude. I don't know when that video was, but I'm assuming it's sometime recent. Um, it's interesting that in his world, which is obviously not the wholesaling side of things, it's actually owning assets. People are saying that this is similar to 2008. That is wild. That's the first time I've had someone even uh say something similar to that because on my side of things, I'm not feeling that we're even remotely close to where we were in late 2022 when things when the interest rates rose and we kind of really stalled out on the wholesaling side. Um, on our side, it's just it's just like it's always been. We're we're rolling. I mean, we get a good deal on a contract. We we've got in buyers, it's it's moving, it's trucking, and that doesn't matter if it's a rental or if it's a flip, high price point, low price points. We're pretty much able to move anything anywhere across the country. There's a few markets that maybe have softened a little bit, but maybe those in buyers want a little bit more of a discount. But that's pretty crazy that he's hearing that. So that's something to keep uh an eye on. And uh from an in-buyer perspective, like a flipper perspective, two weeks without it showing, I couldn't agree more with Chris. You absolutely have to start aggressively dropping that price.

SPEAKER_05:

So it comes up all the time. It's a debate I'm always struggling with. Should you wholesale it? Should you rehab it? And the math I usually use is if I can make 40% of the money wholesaling it, then I'll wholesale. So if we can make 50 grand rehabbing it or make 20 grand wholesale in it, I'll more than likely wholesale that deal. Or if we have too many rehabs going on at one time, then with the extra inventory we have coming in, that's when we'll wholesale it. So it comes up all the time.

SPEAKER_02:

I see it comes up all the time if you don't follow me. This is why you need to have a hedgehog concept and understand what is my company actually doing. The fact that he had to come up with a mathematical equation of whether or not he should wholesale it or keep it and flip it, in the long term, I feel like that's an issue. I don't know if this gentleman, I don't know him, and he might be the greatest flipper of all time, and he might prove me wrong. He might be running a multi-eight-figure operation, and I don't even know it. But my opinion is the majority, the majority of people out there, in order to be great at what you're going to do, you have to be solely focused on one thing. If we get a property under contract, we don't sit here and now decide are we gonna keep this and flip it or are we gonna wholesale it? It's just it's always going to be wholesaled. There is no conversation about that. There is speed, there is efficiency, there's no disagreements on, well, is it are we at that 40% magic number or are we not at that magic number, right? What's he is he actually going to walk away from an$18,000 assignment fee over a$20,000 and keep it and flip it? Or is he gonna take the 18,000? This is where now as a business owner, he's having to make constant decisions. Whereas here, we don't have to make those decisions. And so everything that we're doing is always focused on getting better at our skill sets in regards to wholesaling. And that's where I think it really differentiates the ones that are average to the ones that eventually become great.

SPEAKER_03:

I think it's you know, realtors get sold to a lot by security companies, by anybody else. So I just try to get right to the chase. You know, I when I used to call homeowners, I would say, hey, have you thought about selling? That's it. Do you have any clients that are thinking about switching? That's it. Thanks for watching our clips. If you're an aspiring door-to-door sales rep, please go to Floridaxteriors.net, fill out the form. I'll contact you personally to see if you'd be a good fit to join our team.

SPEAKER_02:

Did the dude just glitch out in the middle of his? I I don't understand what just happened on there. It was like uh realtors get sold. I used to teach people to call homeowners where when I would call homeowners, I'd just say, hey, you want to sell? Anyways, 1-800, buy my shit. Like, bro, I swear to God, this is insane. We need regulations on cameras and microphones. It needs to happen, man. I this this kid probably really good at sales, right? You just see it. He's a hustler. He goes out there, he he he gets people to sign paper and buy some shit from him. But that reel right there, that was a hot piece of trash.

SPEAKER_04:

So you want to know what it's like to be a real estate investor? There was a tenant that was letting me know that she wasn't able to pay, should have her rent check in today. Another tenant in the meantime could only pay half of her rent. Had a closing this morning at 11. We did a two-month lease back with the lady. She buying a house, so she needed a little bit of time. Not everyone does that. That is something that I don't have a problem with doing is purchasing the house and then giving the people a little bit of time to get out, get their things going. So that's kind of been my day. That's a fairly typical day. It's not always sunshine and rainbow. There's lots of challenges that come, but it is fun. I do enjoy it. It sure beats set behind the desk all the time.

unknown:

Are you sick?

SPEAKER_02:

JW coming in with the song there and then. Oh man, JW, man. This I couldn't be more proud of JW and just what he's become as a business owner. He's been with Tu for since day one. He he actually came to the closers formula before. Just great guy. He was absolutely horse shit when he showed up here in regards to closing. I mean, the dude would just use car salesman background, right? I mean, he would just be like yelling on the phone, like, do you want to sell or not? I don't understand. I'm like, J Dub, man, chill. Like, you're actually a pretty cool guy. Like, just show that off on the phones. And he's become such a foundational piece of what TU is. Reaching out, helping people all the time, answering questions, he's the in-buyer in Amarillo, Texas. So if you're not on JW on Instagram or YouTube, you absolutely need to follow him. And if you get deals in Amarillo, Texas, call out, call him. He'll either buy it or he'll know someone that will buy it from you. But in regards to what he's talking about there, an average day of a real estate investor, see, he's not only wholesaling. He's actually taking things down. That's actually really his main hedgehog concept is being a landlord and wholetailing and really keeping assets in the Amarillo market. And his his life is extremely busy with all of the different things that go on from tenants that can't pay. He just did a reel the other day, standing up on a rooftop where you know the roofers were changing the roof on one of his rental properties or a hotel that he's going to be doing. And it is a crazy life. And that's been one of the things that I've talked to JW about over the past year and a half. It's like, is this what you want your business looking like? And in where he's at in life, being in his early 50s, he's like, Yeah, I want to own assets so I can accumulate that wealth over the next 10 years so then I can retire. And that's where understanding what your objective is. What do you want that reality to look like moving forward is so vitally important. So, J Dub, love you, man.

SPEAKER_00:

And now let's look at it from the realtor's perspective. Let's say you get the call out, right? Why is this assignable? You know, the seller doesn't want to do an assignable contract, seller doesn't want to waste time. Are you a wholesaler? Are you wholesaling the property? So, first things first, don't freak out, don't get nervous or start backpedaling. Personally, my default response is to let them know that I'm an investor with multiple exit strategies, meaning I could fix and flip it, I could hold it as a rental, I could wholesale it. Because, you know, quite frankly, it's none of anybody's damn business what I do with the property. You know, if I buy a car, the dealership doesn't need to know if I'm gonna drive it for the next 10 years or if I'm gonna drive it down the block and sell it to my cousin. And uh, hey, if you are strictly a wholesaler, by the way, or maybe you don't have any experience rehabbing and you feel uncomfortable or disingenuous using this um excuse or not even excuse, but you know, this justification, what you do with the property truly depends on how good the deal is. So if you get a super deeply discounted property, I would refer you to a lender who would finance that deal. So even if you have very little capital, if the deal is good enough, what I'm saying is that you could potentially fix and flip it. So that response is not misleading. Uh, most of my cash buyers they don't necessarily have that amount of cash just sitting in their bank account. They're using hard money loans, they're using other people's money. But I digress here, right? While this is my default and recommended response, you know, I'm an investor, depends on what what the numbers are, right? If the numbers work, but um, if you do want to disclose that you're wholesaling, or maybe the agent is probing, or maybe you've I don't know, let it out, or maybe you're just building some good report. Hey, listen, that's fine, okay? Just man, just say it with your chest, man. Be confident in what you do. You should know in your heart that you're going to do everything in your power to get that deal sold. And now, let's look at it from the realtor's perspective. Let's say you get the call out.

SPEAKER_02:

Oh shit, it's been so long, I didn't even realize that was the beginning again. I'll say it with my chest. That answer fucking sucked. How about that? Man, listen, I don't know who this guy is. And sometimes I feel bad when I just shit on people's videos when I know they're just out there trying. Right? We all got videos with four likes, now with one dislike, and it sucks. And listen, maybe this is like his first ever video. He got a sweet little setup over there. He's trying, man. But here's the thing. How are you going to handle where all the estates now are actually mandating that you have to get a disclosure signed that you're a wholesaler before they sign the contract? You're gonna say, well, sir, it's none of your damn business. No, it actually is all of their damn business. You gotta let them know. You're talking to a realtor. Why is this contract assignable? All contracts are assignable, Mr. and Mrs. Realtor, that's your answer. Then wait for them to respond. Are you a wholesaler? Yes. Well, my homeowners don't want to waste time. Then why have they been wasting their time with you? You ain't moving their property, I'm gonna move their property. I know the end buyers, I know this is a damn good deal. Let's go. What are we waiting on? Give me this inspection period. I'm gonna put this much earnest money down. And then also, why are you dealing with realtors? We don't do this anymore. What is this? 2022, Jamil Damjee, Jerry Norton videos out here. Direct to agent. You gotta go on the on-market. Nah, brother. This is 2025, 2026, where we just get leads just handed to us. Shit, Jerry Norton got them now out there for like a buck 25. Speed of lead,$29. Property leads,$30, leads allow$35. Real estate bees. Where did they come from? They're a hot, steamy pile of shit, according to what I've heard so far, but they sell them for$29. You don't need to go on the market anymore and deal with the realtors. You just deal directly with the seller. And if they ask you if you're a wholesaler, you tell them yes. And then in the majority of the states, pay attention to this. In the next year to two years, the majority of the states are going to require you to say, Mr. and Mrs. Seller, I am a wholesaler. Let me explain you what that means. And I need you to sign this disclosure before they sign a contract. So go ahead. And if you're in the business of not telling me you're a wholesaler, you're gonna get the fuck out of business. How about that? So don't listen to this because the game is changing. All right. Well, that's our episode of The King Closer Reacts. I think I was nice to some people. I feel really bad about the last one. But let me know what you think in the comments. Do you agree or disagree with me? Show me some love. Like today's video. We'll see you guys tomorrow.