Tell Us Something We DON'T Know | 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.

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Over 10 years in the real estate investing business
Closed deals in all 50 states
​Owned rentals in 12 states
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​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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Transcript

Explaining The Investor Gap

SPEAKER_00 0:05

What's going on, everybody? Welcome to the King Closer Reacts. I am the King Closer, RJ Bates the third, and look at this. We got a fancy new camera. Apparently, I'm supposed to be popping off the camera. I feel like you can see me, like you can touch me, can't you? Well, I hope that's the case because otherwise, this was a horrible intro. Anyways, this is the series where I'm going to watch a bunch of goofballs and tell them how dumb they are. Let's get into the first video.

SPEAKER_04 0:31

Now, here's where it all gets interesting. On the other side of this market, there are investors, cash buyers, flippers, rental portfolio owners. These are people that are hungry for deals. They have capital sitting in banks waiting to be deployed. They'll pay fifteen thousand or they'll pay sixty-five thousand dollars for a house that's worth 100K all day long because they're gonna put 20,000 into it and they're gonna sell it for 200,000. But they have a problem. They can't find these deals. They don't have the time to go out and make the calls, the text, to put out the bandit signs. They don't have the systems in place to find these people, they don't have the manpower to send out hundreds of calls and texts. So you've got this group sellers who need to sell fast, these homeowners. And then you've got this group of buyers who are desperate to buy, and then there's this gap between them. Somebody has to bridge that gap, and whoever bridges that gap is the person who gets paid.

Wholesalers’ Role Praised

Rant On Licensing And Realtors

Daisy Chaining Versus JV Explained

SPEAKER_00 1:40

You know, we've done a lot of gang closer reacts. There's not been many that I don't have a whole lot to say. To that video, it was fantastic. He really nailed the the place that wholesalers fit in. So, because I don't have a whole lot to say, I'm just gonna shit on realtors because I love doing it. You know, technically speaking, realtors are supposed to fill that gap, but they're just lazy and they don't do the hundreds of texts and calls, which is I find it funny. You know, like there's this new regulation coming down in Alabama about you have to be licensed. And we've had them in Nebraska and all these other states that require you to be licensed. My question to these states, to these lobbyists that have come out and said that we have to be licensed, you know, did you ever sit down and think about how lazy the people are that you're trying to put in charge of these people's lives? The the homeowners that need to sell this property that no one's reaching out to because it's not worth$200,000, it's only worth$65,000. Who's gonna take care of them? Well, it's gonna be us. We're just gonna go get your license and we're gonna pay you a couple hundred dollars because we're not lazy like the current realtors and real estate agents. So that's that's my feedback on that. I just I hate realtors. There you go.

SPEAKER_03 3:15

Now, I sometimes I do deals with daisy chainers or other people because if they have a buyer, well then let's I mean, why not? We gotta usually you gotta say you gotta give them like usually gotta give them a large percentage, anywhere from 30 to 50 percent of the assignment fee. And that's why I don't want to keep doing that. That's why I want to bring people into my business and we can do it together.

SPEAKER_04 3:42

Sorry, is it a different from JVing?

Three Reasons Wholesaling Works

SPEAKER_00 3:45

Yeah, I sometimes I do. Oh no, that was the end. She totally just called them out. That was amazing. She's like so that's not daisy chaining, that's J Ving. You are right, sweetheart. Uh, that guy just is using the wrong term. See a daisy chainer, or let's just start with Daisy, let's just break it down. The difference between daisy chaining, bird dogging, and JV. Okay, a daisy chainer is someone that goes onto an investor lift and they see a property that is somebody else's dispoint, and they never ask for permission, they have no equitable interest whatsoever, and then they go try to sell it for more than what the other person has it under contract for to then come back. Or another way of daisy chaining is is saying, hey, send me the assignment, and then before the the wholesaler realizes that the non-refundable ED hasn't been submitted, they try to sell it to someone else, and then never tells the wholesaler. Both of them are just wild business strategies, and it's crazy that there's people out there that actually teach this. I don't even understand it. Bird dogging is well, there's there's the old bird dog, and now there's the the new way of bird dogging, which is you go find a wholesaler's deal, and you got your your buyer over here, and you let's say the buyer's name is RJ Bates the third, okay? And you say, RJ Bates the third, what is your buy box? And I say, I want a 3-2, 1200 square foot, and I want it to be worth$200,000 after repair value, and I want to buy somewhere between$90,000 to$100,000. And so they go find all the wholesaler's deals, and then they bring that to the end buyer, and then the buyer says, Okay, I'll buy it from the wholesaler for$100,000, and I'll pay you your bird dog fee on top of it. Also wild that this has become a thing, just crazy. Uh, it's borderline brokering real estate without a license. Can't believe that we're pushing it in our industry, and then there's joint venture, a JV, okay, which is the appropriate way to do it. It's you see someone's wholesale deal and you know that you've got buyers in that area, and you go to the wholesaler and you say, Hey, Mr. Wholesale, I can bring you a buyer, but I need equitable interest in this contract in order to try to assign my rights to an in buyer. So let's come up with an agreement on how long do I have? Is this an exclusive agreement, non-exclusive, what's the split of the assignment fee? All that's negotiable. Simple way to do it 50-50 split. Right down the middle. Sign JV agreement. Now that partner takes it to the end buyer, assigns it, everything's done legally and correctly. That's not daisy chaining, it's not bird dogging, it's doing a JV, which is legal and completely normal inside our industry.

SPEAKER_02 7:03

Three reasons why wholesaling still works today. I'm Ryan. I've wholesaled over 600 houses, and now I make wholesaling content for free so you don't have to pay for it. Number one, motivated sellers will always exist. There are literally hundreds of reasons why some sellers value speed and convenience over price. Number two, cash buyers will always need good deals. Many investors prefer buying off-market and turn to wholesalers to find their next property. And number three, the time and effort compared to the money you can make wholesaling real estate is still very hard to beat. With the right skills, resources, and mindset connecting motivated sellers with cash buyers is actually pretty easy. If this was helpful, grab my free weekly wholesaling newsletter.

Pricing Beats Curb Appeal

SPEAKER_00 7:43

The link I want the newsletter. That was that was interesting. I don't think I've seen a real someone doing, you know, walking on a treadmill before. That was unique. Uh, he was wearing my partner's, you know, team sweater there, you know, go blue. All right. I we pulled from Michigan. My son wants to play hockey for the University of Michigan. Now, I guess three reasons. I agree with him. Here's my feedback. Why don't you be a little bit more lively with it? You know, like motivated sellers are still gonna be desperate to sell their houses. Like, lay into it, man. Like jack up the treadmill, get it up to like, you know, incline three, speed like six, be sweating a little bit, like panting. Like they're gonna be desperate to sell. Gas buyers still need deals. Sweat jumping on his face. That's what I want to see on the next one.

SPEAKER_01 8:36

If a house didn't sell because it's got bad curb appeal, you got two choices fix the curb appeal or adjust the price. And the one thing I know for sure is if you fix the curb appeal, it still may not sell. So just fix the price. Price is the easiest thing to fix. At some point, the market will respond with showings and then offers. If you're not getting showings, no matter what the condition of the house, no matter what the location of the house, no matter how many days on market of the house, if you're not getting showings, it's price. Price fixes bad marketing.

Hire A Transaction Coordinator

SPEAKER_00 9:13

You know, a couple of weeks ago we had the lame duck edition. And then last week we had the spicy edition. And I asked Jordan, I said, hey, we got we got a we got a theme for this week. No, I came up with those themes, and and Jordan was like, no, you know, just pick some normal stuff. This week, I don't know, we might have to edit this part out because he likes to put it on the thumbnail. And I don't know. This is the missionary physician week. We're just going with the most cut and dry, like normal information. If your house isn't selling because it's ugly, then you gotta fix it or adjust the price. Price fixes everything. Yep. Can't agree or can't disagree with that. You're right. Lower that price, somebody's gonna buy it. Missionary, on to the next. You do this on purpose? You do this shit on purpose, didn't you? That one didn't even have words. She just stared with a caption, hire TC. I I agree. You should hire TC. Man. So we are we are 35 years into our marriage. It's a Tuesday night. So I you wanna do it. Like, what what are we doing? Have we done have we literally watched every wholesaling reel out there that had any like humor or wild shit? I know I told you, like, there's a handful of people that we can't react to anymore. Right? The dude that loves balls, the other guy that likes little balls. You know what I'm talking about. I mean, really, it's just about guys that like balls. That's just really the only rules I have. Huh. Alright. We got one more. Let's see what we got. Help me. Help you.

SPEAKER_03 11:42

Help me.

Meta Jokes And Boundaries

unknown 11:44

Help you.

SPEAKER_03 11:46

Help me. Help you.

SPEAKER_00 11:54

Oh, Jordan, man. You you did it. You said missionary position, and then at the end, we're just gonna throw it out that reverse count girl. I love it, man. I'm getting canceled for this episode, aren't I? Am I getting canceled? I'm losing subscribers. Well, we got a new camera. Listen, if you haven't watched Jerry McGuire in the past 20 years, because it came out like that long ago. That's how old all of us are. You need to go back and watch it. Because there are some wild moments in it. It didn't age that well. It's still a really good movie, but there's some there's some weird shit in there. You should go watch it. Help me! Help you! Love that part. Show me the money! Alright, guys, that's our episode of The King Closer Reacts, the missionary position episode. I I hope you watched all of it. I hope you didn't tune out. Because, man, we just phoned it in. 35 year marriage. Tuesday night, lame duck style. No, not lame duck. We already had lame duck, just missionary. Yep. So show me some love, because man, I put myself through 15 minutes of watching those videos just like you guys did. Hopefully, I made it more entertaining for you. See you guys tomorrow.