The End Buyers Perspective | Why Being Transparent Matters

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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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Over 10 years in the real estate investing business
Closed deals in all 50 states
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Chapters

• 0:06 Setting The Transparency Theme
• 0:21 JW’s Background And Market
• 0:40 The Walkthrough Setup And The “Partner” Lie
• 1:38 Seller Anxiety And Awkward Questions
• 2:18 The End Buyer’s Ethical Bind
• 4:12 Brand Risk In A Small Market
• 6:00 Don’t Damage Long‑Term Buyer Relationships
• 6:47 A New Policy: No More Cover Stories
• 7:35 Regulations And The Case For Full Disclosure
• 8:39 A Simple Honest Script For Wholesalers
• 9:12 Final Challenge: Protect Every Brand

Transcript

SPEAKER_00: 0:06

Now, you guys hear me talk about transparency and authenticity in wholesaling real estate all the time. But today I want to share a story from JW Epstein, a TU member. He's been with us since day one. First class OG member. He's an in buyer in Amarillo, Texas. And JW shared his perspective around the transparency and wholesaling when he is an in buyer on a property. Now, the story that he shared this morning was he was driving to Dallas Fort Worth, and a wholesaler reached out to him to be the in buyer for the property and said, Hey JW, would you be interested in this? The numbers look fairly decent, but just like every other in buyer, JW was like, I need to do a walkthrough of the property. So wholesaler said, Let me get this scheduled up for you. Let me get you in there. Well, calls JW and he says, Hey, I got you in. You can go see the property, but the sellers are gonna be there. Just let them know that you're my partner. Now, if you've been wholesaling for any point in time, unless you're just brand new in the TU, you've probably used this line when having an in buyer go look at a property during dispositions. We've all done it. We've used the you're my partner, you're a contractor line. Now, what happens is JW shows up to the property, and the seller is a little bit nervous, they're scared because what is their role in this? They're a motivated seller, they are so motivated to sell this piece of real estate that they're willing to do it for a discount. And here's the business partner inside of the property, walking it, they want answers, they want certainty, and so they start asking JW questions. What do you think? Are we good to move forward at the contract price? I believe the contract price on this property was$70,000, and so JW is kind of in this rock in a hard place where he's like, I know as an in buyer, I'm not supposed to negotiate directly with the seller, but the seller believes that I'm not an in buyer, they think that I am the business partner of the wholesaler, so they're looking at me saying, What's the answer? Are you gonna buy my property? Are you ready to move forward? Then they ask JW, Do you have a business card? We'd like to get a business card from you so we can connect. We want to know that you're ready to move forward. And JW is scrambling to come up with responses and answers as an in buyer to cover the wholesaler's rear because they weren't transparent about their actions in this transaction, and this is the problem that we run into where it's like JW said today, he goes, you know, sometimes we give in buyers a hard time because they tried to snake a deal from the wholesaler. But sometimes it's you put the in buyer in such a difficult position that it's awkward, and I don't know how to respond. I don't know what I'm supposed to say, and I'm not trying to snake the deal, but I'm also looking at this going, I'm running my numbers, I'm trying to understand what I need to do and make an important decision for the future of my business and my operation, but I'm having to come up with lies and stories to tell the seller because you couldn't be transparent and real about what was taking place in this transaction. And then JW gave the gem, the diamond in the rough, the the true perspective of that end buyer. He said, I really started thinking about it, and I was like, I'm really happy that this property was in Dallas Fort Worth, not my main market. If this was in Amarillo, Texas, I would have been highly concerned about what is this person going to think about me and my business. JW buys houses, JW buys houses, JW Epstein. The person. See, JW is a big buyer, and he works extremely hard on building his brand in the small city of Amarillo, Texas. He does direct mail, he's got he goes and does all these belly to belly appointments, he does ads all over the place, he goes to small businesses, he does social media reels. If you haven't followed him, they're hilarious. And so people in Amarillo know his face, they know his name and they know his brand. And so he's like, if this was in my local market of Amarillo, I'm sitting here thinking about how do I protect my name and my brand if this deal goes south, knowing that the sellers think that I am a business partner of the wholesaler because he's looking at this going, no, ma'am, I don't think$70,000 is going to be the price. But as an end buyer, a respectful end buyer, he's not supposed to renegotiate. Now he can come up with stories and say, Well, I'm gonna take this back, I'm gonna run my numbers, and then we'll let you know. But the perspective of the end buyer is the stories and the lies that have to be made up on the spot with a highly concerned seller. So for the wholesalers that are listening to this, do not do this to your in buyers. The most important aspect of a transaction is making sure that you're taking care of your sellers, yes, but building a long-term viable relationship with your end buyers, they are your repeat customers. And so when you have that JW in Amarillo, Texas, and you're asking him to go out and lie and manipulate and tell stories to cover your rear because you couldn't just be transparent about what was taking place in the transaction, that's not how you build a long-term relationship. And JW said it directly today during the implementation call. He said, Moving forward in Amarillo, Texas, when a wholesaler brings me the deal and asks me to go walk the property, I am going to directly ask the wholesaler do they know that I'm an in buyer or are you lying to them? And are you saying that I am your partner or your contractor or an investor? What is my role in this? Because if it's a lie, I don't need your deal. And that is your go-to in buyer in Amarillo, Texas. So again, I beg of us as the wholesaling industry to start looking at this and realizing the importance of the decisions that we are making during the acquisitions phone calls. The regulations are coming down on us, asking for what transparency, authenticity, and disclosing to the sellers the reality of what is taking place in the transaction. Now we are starting to see in buyers understand the perspective of you are asking me to do something morally unethical and lie because you couldn't just be transparent about what was taking place in this transaction. You need to start thinking about it from all aspects, not just I want to get a property under contract. I need to get a property under contract, so I'm okay with lying and manipulating the situation. The days of us saying our partner, our contractor, our lenders, it's over. We don't need to do that anymore. We can be better as an industry. Wholesalers need to now just flat out tell the seller this is our role. We are a wholesaler. This is the value that we bring to you. We are going to assign our equitable interest in this contract to an in buyer. In buyers are going to have to come out and they are going to have to want the property. Then they are going to make me an offer and I will accept or decline their offer to assign my equitable interest. That's it. It does not have to be overcomplicated. And the the bottom line is the answer is always the truth. If we do that, you can't go wrong. No matter what. That's what the regulations ask. And now it's what our in buyers are asking as well. So think about it from their perspective, protect their brands, and protect your brand as well. If JW, an in buyer in Amarillo, Texas, is so concerned about his brand. Why aren't you, as a wholesaler, just as concerned about the brand that you are building for yourself? Let me know what you guys think in the comments. Show me some love. Like today's video. We'll see you guys tomorrow.