The Titanium Vault hosted by RJ Bates III

From Lowballs to Cold Calls | The King Closer Reacts

• RJ Bates III • Episode 702

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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.

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SPEAKER_05:

What's up everybody? Welcome to the King Closer Reacts. I am the King Closer RJ Bates III. This is the series where I'm gonna watch a bunch of videos and give you my take on whether I agree or disagree. Let's get into the first video.

SPEAKER_01:

Like, if you're looking to rob somebody, I'm not your guy. You said you were meeting with some investor, but it looks like they didn't buy it.

SPEAKER_07:

They were trying to take us for a lot of money. They only wanted to give$149 with fair market anywhere from$185 to$200. You don't believe that's fair for that company to profit$40,000 off of me? No, not really.

SPEAKER_01:

They don't profit$40,000 though. If they buy the house, they have to resell it, right?

SPEAKER_07:

Of course. And they're gonna list it at least for fair market value.

SPEAKER_01:

Let's say they've list it for$190,000. They have to pay 6% to realtors. They have to pay closing costs, and they probably will cover your closing costs as well. And then they have to pay closing costs when they sell it as a seller. I didn't discuss them doing any maintenance to the property whatsoever. That's probably another five to seven thousand dollars. They're down to 160. That's only 10 grand of profit.

SPEAKER_06:

I just don't know if I'm willing to take that much of a loss.

SPEAKER_01:

You're telling me they offered you exactly what you're gonna walk away with if you receive a full price offer of what you believe the market value is? And you turned that down?

SPEAKER_07:

I sure did. My sister is a licensed real estate agent. She can sell it well over market value.

SPEAKER_01:

How many houses does your sister sell a month? Uh none right now.

SPEAKER_07:

She just became realtor.

SPEAKER_01:

So you're gonna give a$200,000 listing to somebody who just became a realtor?

SPEAKER_07:

We could list it on Facebook and get offers probably within a week.

SPEAKER_01:

So why wouldn't you have done that two and a half weeks ago? Like if you're looking to rob somebody, I'm not your guy.

SPEAKER_05:

Oh man. Listen, I thought he handled that really well. And we've all dealt with delusional sellers, but the fact that he broke down the math, and again, this is an edited video, so if you really nitpick, it doesn't add up exactly. But that was probably a much longer conversation where he actually did the math there. I really enjoyed that because that's part of the closer's formula process. When you are talking to a seller who is motivated to sell, but their price is incorrect. We need to educate them on the numbers because, in his mind, he actually felt like the investor was going to be profiting$40,000 when that's not the case at all. And I really like the question of so you turn down an offer of what you will be netting if you go sell it on the market for$190. Then he points to of course, everyone's got a family member who's a licensed real estate agent. So you're gonna go ask your sister, who's brand new, to go do this for free. Because otherwise, you're gonna have to pay her. You're still losing that money no matter however you chalk it up. This is a very common occurrence. So be prepared. If you're newer to calling sellers, you're going to have to overcome this. You need to understand the math of a real estate transaction.

SPEAKER_03:

So, what I tell you to do, which is really simple and easy, is to ballpark and low ball. To make it even easier, I like to look at it like this. We got ball, all right? So you can do low ball and ballpark. You kind of see my play on words here. Ball, ballpark, low ball. Ballpark, low ball. So that's pretty much what coping should be. Like we want to generally ballpark where we got to be at the offer, and then whatever we're generally at, boom, we go lowball them. Low offers get deals. Again, why do I tell everyone to lowball? Because you're not watching this video just to make five or ten grand this month. You want to make 50 grand your first deal. Hey, you want to make a hundred thousand dollars your first wholesaling deal. The only way you're gonna do it is by ballparking the deal and just lowballing them out here. Overanalyzing and just over.

SPEAKER_05:

Why are you doing to me, man? Why do you do this?

unknown:

Oh my god.

SPEAKER_05:

I tell Jordan, man, there's certain people I just don't want to touch in the industry, you know, because they came after me, or in this case, like copied me, and then I made a video and I got all heated, you know, copycat for an hour. If you haven't seen that video, me and the Gins, we probably don't see eye to eye. And after watching this video, maybe I should just go after the low-hanging fruit and realize it's because Zach likes balls. Maybe that's why we don't see eye to eye. Is that what you were going for? We're not. Am I trying to get canceled in 2025 before we get to 2026? I don't know. Listen, we don't agree on how to do wholesaling. That's it. Like, pretty much, if you go watch most of Zach's videos, I disagree with him. That's it. That's my reaction to this. I don't ball part, low ball, we don't lowball. Ball part, maybe. Maybe I'll give them the ballpark, right? You you gotta land somewhere relatively close, you can't be precise. So I'll give them that ball. I'm not giving them both balls.

SPEAKER_02:

It makes you feel like you are failing because your reality is full of rejection, confusion, and deals falling apart. But here is the truth. They're only showing the trophies, not the training. It doesn't show the hundreds of calls that went to voicemail. It doesn't show the title issues that delayed closing for two months. It doesn't show the stress. If you judge your behind the scenes by everyone else's highlight reel, you will quit. At wholesale school, we focus on the reality of the business. We don't hide the hard parts. We embrace them. We show you how to navigate the obstacles that everyone else edits out of their videos. If you want a community that is honest about what it actually takes to succeed, click the link to join us and I'll see you on the other side. Stop letting the algorithm.

SPEAKER_05:

Is that not real? Yo, I don't know anything that guy just said. I think it was a promo for his wholesale school. I don't know if he's a real person. His mouth was not moving at times to the words that he was saying. It looked like one of those cheap karate movies, you know, when like their mouth was moving, but then the English dub was over here and it was separate. Like his mouth wasn't enunciating English words at all times. It totally threw me off. I don't know that he's real. Don't go to school, anyways. Go to a university. Titanium University. TitaniumU.com. There's my pitch.

SPEAKER_00:

I actually lost money on this house. I bought this house right here in 2017 for$32,500. I then wholesaled it to myself for$3,750. Then when I was done with everything, I sold it for$145. This area appreciated so much. It ended up selling in 2023 for$280,000. So not only did I lose money on the sale, if you take what the house appreciated for in five years from 2018 to 2023,$135,000 difference from what it's sold, I divide that by 60 months. I lost$2,200 a month in appreciation by selling this property. That's the power of buying in the right area.

SPEAKER_05:

And if you want to learn how you can analyze and this is why, if you're a wholesaler, you never go back and pull comps on properties that you sold. Because you will totally convince yourself I should have never done that. But I get his point, right? You you can, especially over from 2018 to 2023, those were powerful years in regards to appreciation. Probably some of the most powerful that we've ever seen in a in not in only in our lifetime, but in the history of our country. I mean, in in the amount of dollars that were created and values in our houses. And so you can go back and you can look at it and you can say, man, I left a lot of money on the table. But we make decisions as business operators every single day on what we need to do to get us to that next year, right? And so I never look at houses that I sold in the past and say, oh, I lost$200,000 because that would be so demoralizing when it's like there were times that I needed to sell a house to have that active income. I can't always just rely on rents or the appreciation that's going to come. And then at what point in time is the right time to sell? When are you going to capitalize on it? Because here's the facts. He's going to go back and he's going to look at that property in 2033 and see how much more it was worth. And he can do the math again and say, if I'd held on to it for 10 more years, well, what about in 2043? What's it going to be worth then? So when is the right time to sell? When do you actually get to capitalize on it? So I get his perspective, but avoid the whole I lost the money. Sometimes you just need to capitalize on what you've earned.

SPEAKER_04:

I don't take offers. It's my property, so I name a price. The price is$500,000, firm cash, non-negotiable. I'm not selling my houses. I'm not zero. Take my main off your list. Property. Oh, gotcha. Why not? Thank you. Uh, we just bought it. Oh, okay. Nice. Like real estate investors. I don't take offers. It's my property.

SPEAKER_05:

Oh, the joys of cold calling. However, that first seller, I would have loved that guy. I don't take offers. My price is$500,000. Yeah, closer formula would have flowed right into that. And that's an outbound call. You guys ask about that all the time. There are sellers out there that will give you their price and be firm on it. Probably wasn't a deal. But this is why cold calling is so brutal. You see it there, Danny. He's man. Why? Guys, you don't have to do this anymore. You can go out there and you can just talk to sellers that have already raised their hand. And I get it. We we sit there and we say, we can't afford PPL yet, RJ. I can't afford PPC. But can you afford going through that every single day? There's an opportunity cost that you lose. There's also the perspective of if you never get to results, you're probably gonna give up on your dream. And so for me, it's so sad when I see people like that going through that trial and that the need to get your teeth kicked in or the feeling that you can't afford it. Find a way. There's a better way out there than getting your teeth kicked in over and over and over again with cold calling. Alright, guys, that's our episode of the King Closer Reacts. Hope you enjoyed today's good laughs. I know I enjoyed some of them. Today's the first episode that we talked about balls. This was a unique King Closer Reacts episode. Show me some love. Like today's video, and let's pray that somebody that doesn't like me in this industry gets too upset because I made a joke. Zach, it was just a joke, buddy. Just a joke. I know that you don't like balls. You just talked about them a lot on that episode. See you guys tomorrow.