The King Closer Reacts to Crazy Reels

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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
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​Closed on over 2,000 properties
​125 contracts in 50 days (all live on YouTube)
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Chapters

• 0:05 Setting The Stage: Reacts Format
• 0:21 Virtual Vs Office: Culture And Accountability
• 1:58 Fun At Work And Building Team Bonds
• 3:00 The “No Risk” Wholesaling Debate
• 5:15 Tight Buy Boxes And Market Reality
• 7:45 Lead Quality Myths And Sales Skills
• 9:49 “Traditional” Wholesaling Critique And Rebuttal
• 12:20 Core Skills: Underwriting, Motivation, Timeline
• 12:25 Closing Notes And Engagement Ask

Transcript

SPEAKER_04: 0:05

Welcome back to the King Closer Reacts. I am the King Closer, RJ Bates the Third, the series where I watch all these wholesaling gurus and YouTube influencers to see if they know what the hell they're talking about. Let's get into the first video.

SPEAKER_05: 0:21

We started going to the virtual space and they're like, oh, I can do this from anywhere, which you can't, but you gotta have daily check-ins, maybe multiple times a day with different departments. You have to create the a culture through a camera, which is really hard. Whereas if you're in an office, you can meet somebody's kids, their family, there, ask them how their day is going. Like, you know, so I've seen people migrating back into the office space, at least to build a true real estate business again.

SPEAKER_06: 0:44

Yeah, you lose that connection to someone. You know, every day I get to go in, I bullshit with my guys a little bit, do push-ups all day. Like it's fun, it's a deeper sense of connection when you guys are not just talking like through a camera. For sure.

SPEAKER_04: 0:58

So I couldn't agree more with this take. I we did the whole virtual thing for years, and I think there was always some sort of resentment between owners and employees. It's like if we weren't getting results, it was really hard to understand. Like, was it because we weren't getting results because of a lead problem, a process, a system issue, or is it because you weren't doing work? And when you're virtual, it always kind of turned into were you doing the reps? Were you truly paying attention? Are you just trying to get a paycheck? Um, here in the office, again, building that culture. He talks about just bullshitting with the guys. I mean, we have so much fun here. Just the other day, we were standing out on the back balcony right here, looking at the lake, and we saw these two geese just walking in the parking lot. And I made a bet with Justin, like, just I bet for$10 you can't go down there and you can't touch one of those geese. And it was hilarious. Like, he he ran down there, he's running around the parking lot, he dives after one, he does a front roll. Actually, you know what? Jordan, put it in there. Show everybody Justin's magical slow motion. Where are we? Where we got it? One of these sides. Here's Justin. Slow rolling, he's all tore up. So we're gonna go golfing later today, and I'm gonna beat him because his hand's all tore up, but it's just having fun. And I think work should be fun. It shouldn't be one of those things. Like, one of the benefits of being an entrepreneur is that you create your own company. It's not just about money, it's not just about uh this legacy that you want to leave, it's also about uh creating a reality of the culture that your business has and having fun. And yeah, the freedom and the money and all that is nice and it's important, but it's also just about enjoying who you work with on a daily basis.

SPEAKER_03: 3:00

Here's the problem with wholesaling as a business model for an acquisitions person. We have literally zero risk. Why is that a problem? Let me ask you this: if you had to choose between the following two options, what would you choose? Wishing you got a deal under contract or wishing you never got a deal under contract and can get out of a deal. It is way worse to have that bad deal and wish you could get out of that deal than it is to be like, I wish I locked up a contract, I wish I got a deal. Yeah, and wholesalers don't have that problem that like forces you to be good at your numbers.

SPEAKER_05: 3:43

100%.

SPEAKER_04: 3:50

I this is my issue. Every single time we have one of these hot takes on like the problem with the wholesaling model, uh, I just I don't understand what these people are talking about. Um so you're telling me that if I go get a property under contract, I have no risk, yet I spent marketing dollars on generating that lead. I'm gonna have all my systems and all my overhead. I'm gonna spend money to get pictures taken, do recon on the property, and then I'm gonna spend time trying to dispo the deal. I have no risk. What are you talking about? We have risk associated. We also, by the way, we make no money if we get a deal under contract for too high and we don't know how to run numbers. Like we have to make money. So, how is that the problem with the wholesale and business model? Because you're pointing at it and saying we don't lose anything like a flipper or a landlord would? Well, of course not. We also don't have the upside that a flipper or landlord has. That's why our average assignment fee across the entire nation ranges around$15,000 per deal. How many house flippers are flipping houses for$15,000? Nobody. So, yes, there's a give and take to the business model, but there are people out there that are spending six, seven, eight thousand dollars and some in some markets even more in just marketing costs to get a property under contract. So you're saying, oh, we have nothing to risk. You terminate a deal that costs you six thousand dollars to get, yeah, you have something at risk. I disagree with this.

SPEAKER_02: 5:41

These are the properties that I will not wholesale fire damage properties, danger zone properties. These are properties that are in really bad neighborhoods. Should I explain more? Major foundation issues. I don't wholesale houses in flood plains. Flood zones, okay, but a flood plain, no. You can't mess with flood plains, you can't get them insured. Houses that are old, if they're under 1950, and also houses that are too expensive. Those million-dollar houses just sit on the market, sometimes for years. They're a terrible investment.

SPEAKER_04: 6:14

These are the properties that I do just named like every house out there. Like, what do you want? 2012 built that's uh$300,000. I mean, yeah, we all want those, but listen, in some market, I don't know what market he's in, but clearly not a virtual wholesaler, because there are some states where every house is older than 1950. Like up in the Northeast, what are you talking about? I mean, you're gonna have to wholesale houses that are older than 1950. And then if you're doing wholesaling in a place like Houston, Texas, uh, you're gonna have to deal with floodplains. Um, fire damaged homes. I mean, so what are we supposed to do? Just look at homeowners and say, oh, your house burned out and you need to sell that asset for a discount and you're highly motivated. I'm sorry, I'm not going to help you out. Come on. There's a there's a buyer for each one of these problems here. So I don't agree with just looking and making this really tight buy box. Uh, it sounds to me like maybe this gentleman right here is used to wholesaling the hedge funds, and that's why he's kind of created this buy box. But when you become a virtual wholesaler and you start doing deals in multiple locations, you realize that there's many different types of buyers, and you have to kind of get used to the underwriting process for all of the different needs out there. So I don't know, that just feels like that's too tight of a buy box for me.

SPEAKER_00: 7:45

You think you have a lead quality problem, but you probably don't. Here's why. I've analyzed thousands of real estate campaigns, and I see most real estate investors say I have a lead quality problem. But that really isn't the freaking case. So stop whining about your lead quality and actually listen up. Most people have a problem accustomed, not problem aware. So I talked to a lot of people that go to the highest intent, let's say Google campaigns, and they can't actually get leads to convert. Then they jump from marketing agency to marketing agency and they jump from cold call into SMS. They just jumping around and say, hey, it's a lead quality problem. But then I go and listen to their calls and I come to figure out that it's actually a sales problem. Because most of these guys think they're really good at sales, but you listen to their calls and you see that, dude, you're just terrible at sales. You just think you're good. And so stop being a whiny little bitch, if you ask me, and actually go and start learning sales. Because you got guys that are literally doing SMS, doing more deals than you, you doing Google PPC. How can these guys go and do some outbound marketing, get better results than you doing inbound marketing just because, and then you complain about the inbound quality? No, it's you do not have your sales process dialed in.

SPEAKER_04: 8:48

Courtney Scott, bringing the fire right there. I agree. I I could not agree more. I so many people will tell me, like, man, the leads from speed of lead, property leads, leads all over, they suck. And I'm like, but they suck, and then how come every time I get a random batch, I get a property under contract? How come people inside of TU are closing deals every single day? We literally had I had a TU member text me last night. He said, RJ, I am analyzing 20 plus deals a day that other TU members have under contract that are trying to wholesale to me. 20 plus. Now, mind you, Titanium University, we've only been in existence for a little bit over a year. We only have 550 members. He's getting 20 deals a day that are under contract. Yeah. You want to learn how to actually close leads? Go to kingclosersformula.com.

SPEAKER_01: 9:53

What I find is a lot of wholesalers will just do it anyway, right? They'll lock it up and they'll get people in tough situations. And the thing is, not all sellers tell you their timeline, right? Some of them will just believe that you're going to buy their house because you said they would. And then people cancel because they're just trying to get the contract. So this is a big problem with traditional wholesaling because most of these wholesalers that go out there do not have buyers until they blast out the list of thousands of people. And then they get feedback, and then they're like, okay, this can, you know, this can work. And I think that's why wholesaling's under attack because the traditional way of wholesaling is stupid. It sucks.

SPEAKER_04: 10:32

I don't know. What is that? Nathan. I like Nathan. Nathan's a good guy. I don't know what he's talking about the traditional way of wholesaling. I thought he was a wholesaler, so maybe he's got some new fancy term. The painless flipping way. I don't know. But also, all right, man, why are you so out of breath? Looks like you're slowly walking. Like, man. Come on now. But listen, I what are we talking about here? This this is like, is that the reason why wholesaling is under attack? I I think there's a lot of different reasons why wholesaling is under attack, but this right here, this is like assuming that every wholesaler out there just has the intention of locking up every single deal, blasting it out and hoping that it sells. I think that happens a little bit. There's a small percentage, but the majority of people realize very quickly after they terminate one, two deals, where it's like, hey, that took a lot of my time. Because one of the worst things that we want to do is terminate. We continue to work and work and work. And so it's like, if I just gotten this at a better price or a better location, then I would have already made money. And so we start tweaking our skill sets. So I don't know what his new way of wholesaling is, but at the end of the day, uh company and underwriting is the most important skill set out there. And that's why some of us have regularly been teaching like this is what you guys need to be focused on how to talk to sellers, how to identify their motivation, how to identify their timeline, which he says some sellers won't tell you that. That's weird. And then also understanding where your end buyers buy. All right, guys, that's our episode of the King Closer Reacts. Hope you enjoyed it. Let me know in the comments if you did. Give me a like. We'll see you guys tomorrow.