From Beginner Problems To Quitting | The King Closer Reacts

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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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Chapters

• 0:00 Setting The Stage
• 0:18 The Wholesaler’s Biggest Mistake
• 1:37 Cold Calling Vs Inbound Leads
• 3:16 Contract To Close Reality
• 3:25 Stress, Burnout, And Structure
• 5:27 Local Vs Nationwide Wholesaling
• 8:41 Underwriting Done Right
• 11:12 Sunday Planning For Performance
• 13:36 Closing And Community CTA

Transcript

SPEAKER_06: 0:05

What's going on everybody? Welcome to the King Closer Reacts. I am the King Closer RJ Base the third, and this is a series where I'm gonna watch a bunch of videos and probably disagree with the majority of them. Let's get into the first video.

SPEAKER_00: 0:18

Biggest mistake wholesalers can make. As a beginner wholesaler myself, I could tell you from experience at the closing two deal so far that the biggest mistake I've made wholesaling so far has been me not vetting my sellers. Code calling your sellers as well as your buyers, but right now we're worried about the sellers. Vetting your sellers, make sure they're actually ready to close, ready to get the process going, and ready to get to the closing table is the most important thing to do. Now there's been plenty of times I've had multiple deals under contracts, well over 10 deals under contract, I think, by this point, to where I've had sellers tell me that oh, they're willing to sell, they're willing to do this, they're willing to do that. However, once we get to the closing table and we're actually ready to go and take things serious, they're like, Oh, well, I'm not sure. Oh, well, let me go talk to this person. Oh, well, actually, maybe I want this price. Oh, well, maybe I want to wait a little bit longer. Oh, I'm not serious. Like, come on, bro. I honestly understand the fact of why everybody says, Oh, make sure you always vet your sellers, make sure they're ready to close, and give them option to say, I don't know. It's either a yes or no with me. It should be yes or no for you too. Talk to these ifs, ands, or I don't know's, buts, or maybe's like, come on, man. Just tell me straight up. Do you want to sell or you don't?

SPEAKER_06: 1:24

Hey, uh, you gotta give the guy some credit, he's got some energy. Uh, that's a weird uh uh like that's the the biggest thing that new wholesalers need to realize, though. Now, part of the problem that he's running into is that he's cold calling. And and listen, I get it. You guys always want to shit on me because I'm like, you know, stop cold calling, do PBL. But this is one of the reasons why I say this. Going back to when we were cold calling, our lowest contract to close ratio was cold calling, and it is because of this right here, where you do have a tendency to reach out to someone, and in that moment they say, Yeah, I do want to sell. And then there's a change of heart. Whereas I have gotten beaten up by people in the industry saying, Well, when it comes to my inbound leads, I don't run into this nearly as often. In fact, hardly ever do I come across a seller who has taken the time to insert their information to us and then say, never mind, I don't want to sell. No, to his point about verifying whether or not and vetting out a seller what if they want to sell, that is literally step one of the closer's formula. Are you still looking to sell? And if the we do not receive a yes, like he said, it's either yes or no. If we do not receive a yes, we're not moving on the conversation. It's I need to hear you say yes, I want to sell. Now, if you get a signed contract, them changing their mind. That's that's a little bit wild. You do have some you know forcible ramifications, right? You can file a memorandum, you could explain to them the fact that they signed a legally binding contract, but I think this all goes back and stems from his lead generation, and he's gonna consistently struggle with that until he changes that.

SPEAKER_04: 3:25

Most people quit real estate right before it actually starts paying off. And yeah, they don't quit because the numbers are bad, they quit because their stress compounds faster than their income. Every decision stacks, every problem feels urgent. And eventually, people just say this isn't worth it. Real estate work, burnout just shows up first. Now, the right structure removes pressure early, so you can actually stay in the game. If you want upside without the emotional tax, click the link in the comment section and book a call.

SPEAKER_06: 3:52

I agree with this tape. I mean, this is very common where people come in and they watch social media and they hear about all of the wins, all of the W's. And it's like, hey, I'm gonna get into wholesale, I'm gonna get into real estate investing, and it's gonna be easy and I'm gonna make more money than I've ever made in my entire life. And they don't have any skill sets. They've never actually worked on deciphering what is a good lead, what's not a lead, vetting out sellers, conversating, getting a seller to sign a contract, comping and underwriting, dispositions. If you're in a different form of real estate investing, flipping, managing contractors, dealing with all of the overhead and the cash flow issues that come along with that. If you're a landlord, the issues that come along with getting loans, dealing with tenants, the slow cash flow, all of that compounds. And like he says, that stress that comes along with it, most people can't handle that if they don't have the proper expectations when they start. And so I will say, as an industry, we have gotten better where we're actually starting to talk about this on social media. And so I appreciate these types of videos because when I got started, that wasn't the case. It was everything on social media was wholesaling. You can get into it with using zero dollars, no money out of your own pocket. At least now we're starting to get to the point where we're talking about, hey, you do need money, and it's not gonna be instantaneous results. So that's a positive change for us as an industry as a whole.

SPEAKER_01: 5:27

Local wholesaling, I think, is a death trap for brand new real estate wholesalers. And the reason for that is you have a lot of competition because everybody and their mother is in that particular market pulling lists. Because if you're picking local, typically you're gonna be doing code calling or some of these other outbound strategies. So you're dealing with a lot of competition. If you're gonna do any sort of online marketing or even the regular marketing, such as direct mail, the cost per lead is gonna be through the roof. You're banging your head up against the wall, and you're just not gonna be able to survive in that environment if you're a brand new beginner. So I do not recommend local wholesaling. I recommend going nationwide because that's gonna give you the most opportunities possible and keep your cost per lead down so then that way you get the reps in needed in order for you to get efficient and or competent in the business.

SPEAKER_06: 6:10

That's my boy Chris Chico. Couldn't agree more. This is what I always say when people want to ask me, but when you go nationwide, RJ, you don't know how to comp and underwrite in the particular markets, and you're not gonna have those known in buyers. And yes, these are viable reasons as to why you would be persuaded against going nationwide. Except for the fact that when you start talking about going local, especially into larger markets that are competitive and saturated, it's gonna be extremely hard for you to get a deal. Now, for me, I look at it and I say, all right, if it's easier for me to go get a deal, it costs me less money because he's absolutely correct. My average cost per lead is significantly lower because I'm nationwide. It gives me more opportunities to say no to leads, make sure I'm only contracting good deals, and then the struggle that I have is I have to go find in buyers. Well, now we have softwares that just tell us who the in buyers are, so that makes it a lot easier. And so when I hear people say, Well, I want to do this in my backyard, and then I'll expand out, it's like you're doing it the wrong way because you don't have any skill sets built up. You don't know how to talk to sellers. But if you're in your local backyard and that's a somewhat of a competitive market, you're gonna get chewed up and spit out the other side by the professionals in that area that have been doing this for decades and they have a large team and a much larger marketing budget. They're gonna be hammering people with TV ads and direct mail and cold callers and door knockers. Just the other day, I was talking to probably one of the most well-known local investors, Brent Daniels, who's in the Phoenix, Arizona market, and he was talking about the fact that he decided to expand his marketing efforts to TV last year. And he was spending a significant amount of money, but his competitors were spending 10x what he was able to spend. And so, because of it, he had to give up on that lead generation tactic. Whereas a nationwide investor, we don't have to worry about that because we always have the lowest average cost per lead, and we're casting such a wide net that even if a regulation happens or a market turns for the worse, it's okay. Florida in 2024 and 2025 really softened because of the hurricanes that hit. That's okay. Florida was one of our main markets, but it didn't impact us as a business as a whole because we had 49 other states that we could still do deals in that weren't impacted the same way as Florida. So great take, Chris. Completely agree.

SPEAKER_02: 9:01

Can you give us a quick little breakdown on the main things that you look at when you're underwriting a deal?

SPEAKER_05: 9:05

Two biggest things I always say, which I've been saying for years, for a wholesale deal is gonna be the price point and the occupancy. So 90% of the wholesale deals are cheaper price points, which is 400k after repair values, 400 and below. And ideally, you're gonna target absentee owners. So that's gonna be your tenant occupied properties with the tenant messing it up, your inherited homes, maybe the vacant homes, somewhere where the owner is not living in the property. That's gonna be 80 to 90 percent of your deals.

SPEAKER_06: 9:38

Okay, great question by Rafael Cortez. I don't know the gentleman that was answering that. I don't love the answer. When I think of underwriting a deal, I want to look at after repair value, current market value, and the amount of repairs. The occupancy is important, but only if it is tenant occupied, then we would need to include the rent rate into the underwriting. If it's vacant, the occupancy is irrelevant to the underwriting of it because then it's just about what is the after repair value, current market value, and then what is our purchase price, and does it make sense for an end buyer? And so I think again, this is a snippet from a podcast, and so maybe it makes more sense on what he was talking about previously. But based off of that take, that's definitely not underwriting one-on-one, like the headline said. That's not how I would explain it to people. And we're really big on underwriting, you know, comping is simple, just find something comparable, you know, same year built, same size, same bedrooms, bathroom count, lot size, all that matters. But on the underwriting side, it's literally just math. What could the house be worth? What do I have to do to achieve that value? And then what is the profit for the end buyer? And does that make sense for the amount of work and the investment that they're making on it? That those are the most important parts to underwriting, in my opinion.

SPEAKER_03: 11:10

So, what's the first day of the week? Is it Monday? Nope. Wrong, definitely not, especially in business. Week never starts on a Monday, starts on a Sunday. Sunday's a day where you unplug and you have a little bit of me time, which is to enjoy the day like this, right? Slow down a little bit, enjoy what life has given you. Whether you're on a high, on a low, at least the sun is shining on your face and not on your grave. So you always have the opportunity of a lifetime to make a difference. And so enjoy Sunday, unplug, have a little bit of knee time, but also most importantly, also set some time to plan for the week. What do you want to accomplish? And what are the top three top three things that's gonna help you accomplish your goal for the week? Not for next month, not for next year, but for the week. All right, guys, hopefully this helps.

SPEAKER_06: 12:22

He had a post today basically calling out the entire community. Like, if you're not where you want to be, it's because you're not leveraging what we bring to the table as a community. Love that guy. And in his take here, I couldn't agree more. I mean, the week does start on Sunday, and for most of us, we don't work on Sunday, so it's like, well, what does that mean? Well, I always have time on Sunday to sit down and think about what this week looks like. And it doesn't have to be like I come up to the office or sit at my desk and I'm writing it all down. It's literally just mentally, hey, Monday, I'm coming in, I'm doing the implementation call from 10 to noon. I've got a one-on-one, I got this meeting, I know I've got to record this video with Jordan. I know I've got to talk to the wholesaling team about these deals that are under contract. Planning out what that Monday looks like and doing that each day of the week. So I know going in, every day is planned out. And I tell this to every single TU member when they come in. Plan your day and know exactly what you're gonna do because otherwise you are going to be lost and fall into the trap of shiny object syndrome. So I love this take, Caesar, and I appreciate everything that you have brought to the TU community. All right, guys, that's our episode of The King Closer Reacts. Hope you enjoyed it. If you did, let me know in the comments. Show me some love, like the video, and we'll see you guys tomorrow.