This Wholesaling Technique Will Cost You Deals | 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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Transcript

Welcome And What We React To

SPEAKER_05 0:05

What's going on, everybody? Welcome to the King Closer Reacts. I am the King Closer RJ Base III, and this is the series where I watch a bunch of videos, probably disagree, give my take, and then you walk away more knowledgeable. Let's get into the first video.

SPEAKER_03 0:20

One great example of that and why this joint venture model is so beautiful is I had a wholesaler bring me a deal once. It was in Allen, Texas. He had a house under contract, he got it for$200,000, and he was ready to give it to an investor friend of his that was in a meetup community that he was in. He was going to sell it to her for$230,000. So he was going to make$30,000 on the deal. But instead, and we've done a couple of deals before, but he just felt this need that he wanted to try and do the whole cycle by himself. But he double checked with me just in case. He's like, hey, look, I have this deal. I already have a buyer lined up, but you know, we've done so many deals together, we made so much money together. I wanted to check with you and see if you think this is a good deal. And I can at least pay you for your time if you kind of give it your blessing type of thing. So I take a look at the numbers, and quickly I realize I'm like, he's leaving a ton of money on the table. And I'm like, look at give the deal to my team just for a couple of days for us to really run some real marketing, get in front of some serious investors that I know buy in this marketplace, and let me see what results we can produce because it looks like there's extra opportunity here, but I want to be certain of that. So let me just demo it. And worst case scenario, it doesn't work out. We'll just give you the deal back and you can sell it to that investor that you found. And he said, All right, let's see what happens. He gives us the deal. We put together the marketing really quick, we set up a showing for the next day. We have about seven or eight people reach out and go see the property the same day. And by the end of that second day of showings, we had an offer for$300,000 that they were ready to assign the property for. So again, he had it for$200,000. We assigned it for$300,000. He was originally going to sell it for$230,000. So we were able to nearly double his return because he gave us the chance.

The Awkward Highballing Cold Call

SPEAKER_05 2:02

That's my boy, Nicolo Fasio, TU member, and also one of the uh massive TU dispo houses. Uh I love that story because it's one of the reasons why we promote doing joint ventures inside of TU, especially when you're newer. Because you never know what all of the in buyers are willing to pay in certain markets. And with you know, Nigel's team being based out of Dallas Fort Worth, that's his his number one market. And he knew exactly that he he was leaving so much. I mean, that's$70,000 that was left on the table. So it's absolutely imperative for you to have people like Nicolo in your back pocket that have established these relationships and are able to maximize your profit as the wholesaler. So great job, Mr. Fazio.

SPEAKER_02 2:57

Highballing sellers until I get a deal. You said you were looking to get$30,000 for it. All right, Mr. Jerry, I do have some good news for you. The property did get approved for an as-is cash offer. No fees, no realtors, no commissions, and no waiting. Now, in terms of where the cash offer got approved at, Mr. Jerry, it actually got approved a lot higher than the underwriters were initially expecting. Mr. Jerry, the property has been approved for an all-cash USD offer for every penny of$2,396 in the property's as-is condition.

SPEAKER_05 3:31

How much?

SPEAKER_02 3:32

Property has been approved in its as-is condition for$2,396.

SPEAKER_03 3:39

$2,000, Bart?

SPEAKER_02 3:40

Yes, sir. And I am aware that that is a little bit lower than what you were hoping for, which is why I wanted to talk with you about it.

SPEAKER_05 3:48

I've got it, but thank you.

SPEAKER_02 3:50

I got you. How far off is that, Mr. Jerry, from what it is you were looking to get for the property? Really? I've been offered for that, Bord.

SPEAKER_05 3:59

I I got I've been offered$18,000 for it.

SPEAKER_04 4:02

I told that I didn't take$2,000.

SPEAKER_02 4:04

You ain't taken$18,000 for it? No. Why not? Because I'm I'm looking at the property next door, Mr. Jerry. This is fully renovated, and they just sold this property for$30,000 next door to yours. Same year, same square footage. So how how would we be able to pay you that much for this property?

SPEAKER_05 4:23

I don't know. I've been offered more than that quarter, so I mean, you know, don't worry about it.

SPEAKER_04 4:27

You can't pay it, you can't pay it. If the$2,000 I'll get more, I'll get the motherfucker away for it.

SPEAKER_02 4:32

But then anyway, I got I got you. We can't afford it, Mr. Jerry. The thing is, it's just we we can't pay the after repair value price for its as-is condition. Remember, this is an all-cash offer, USD. What if we did$3,000? We wouldn't be making a fortune, Mr. Jerry. I promise you that. The margins are already very tight, even at that amount.

Getting Buyers To Close On Time

SPEAKER_05 4:56

Okay, clear thing. Bye-bye. There's so many things in this video. One, he says high balling, not low balling. That's hilarious. Two, his accent. I don't know if that's real or if that's fake. What do you think? Is it fake? Joe Jordan says fake. And the Mr. Jerry. That was amazing. Oh, the fake underwriting department. God, it sucks so bad. Oh my god. I mean, dude, if you sell classes and courses teaching people to do that, holy shit, you must be so fucking embarrassed when you look in the mirror. Oh my god. I couldn't imagine doing that shit and teaching this little kid to go do it. This guy, man, he would be awesome if I could teach him the closure formula. Absolutely fantastic. Unfortunately, someone they got their talents in them and they taught them how to do that dumb shit that we teach in our industry. Man, go talk to your imaginary friend. Mr. Jerry, we gotta approve$2,396 USD dollars. Who taught him to say USD? Man, that is some w shit. However, when he did get down to it and they were going back and forth and he was talking about the after repair value and all that, I kind of liked some of the stuff he said there. He did a pretty decent job. I mean, I didn't think it was bad. But holy shit, to the guru that taught him to do that, man, fuck off. Get out of our industry. You suck.

SPEAKER_04 6:36

Hey, when you do your first the fourth wholesale deal, it's uh it's just like learning the mechanics of it. Being able to like well, how do you find the deal? How do you find the person that you're gonna sell it to? Like what's that network and community you need? Like right, and the whole process, and what does the paperwork look like? And then putting it under escrow, and then having that buyer coming to the closing table and closing on the property to make sure everyone gets paid, including the seller. It's all very, very important to be able to go through the whole process, which it's so much fun. Yeah, I still have a huge passion for and love doing that.

SPEAKER_05 7:06

So he brought up something that I don't think it's talked about enough. Getting your buyer to the closing table and funding the deal to make sure that everybody gets paid. This is one of those things that people think that once you find the seller, you get it under contract, you get your pictures, you go find a buyer, and then it's magically all going to happen exactly the way that it's supposed to on time. The issue is that you have a seller and you have a buyer, and the seller expects this to close on whatever closing date you put. And that buyer sometimes feels like that closing date is optional because they're bringing the money. And so they'll do it on their time frame whenever they get around to it, and they've got a lot going on. And so maybe they don't schedule that appraisal in time, maybe they don't order the survey that's needed in order to close, and that causes delays. And so this is a whole nother aspect to your job as the wholesaler is to continue the communication with your buyers, with your sellers, and making sure everybody's on the same page and closing on time.

Lead Flow Builds Skill And Confidence

SPEAKER_00 8:21

A broke real estate wholesaler with three leads is stressed, a mediocre wholesaler with 30 leads is dangerous. The single biggest thing that you can do for your real estate wholesaling business that'll completely transform it over the next 90 days is lead flow. If you have enough leads, everything changes. Your skill sets increase. Why? Because of pure repetition. If you talk to two sellers this month versus if you talk to 30 or 40 sellers this month, at the end of the month, you will not only have a chance of doing deals, your skills will increase because you'll have uh better skills in terms of talking with property owners, you'll have better skills in terms of uh doing property analysis. Everything changes. Your demeanor, your mental state changes. Why? Because you feel more confident about you being able to have success in the business. And so fix your lead throw problem, and then you will fix your real estate business.

unknown 9:14

A broke?

SPEAKER_05 9:15

So funny that Chris says this on today's episode. Just this morning, I got on uh the the TU implementation call. And you know, the I I probably started it like five minutes early. So there was a few people that were waiting on the Zoom to start. And one of the members, she she said, Hey, good morning. And I said, Hey, good morning. I said, Man, you're on a heater. You you've been getting uh basically a contract every day this week. And she goes, I know. You want to know what's changed? I said, What's that? She goes, I started buying fresh leads again. Deal flow, lead flow. Like the most demoralizing thing in the world for someone that does acquisitions is staring at the exact same phone numbers that they've been dialing each and every day. Voicemail, voicemail, can't get a hold of them. You have to have that lead flow that comes in, where at least it gives you a few fresh leads every day where it's like, this is a fresh opportunity. This person just filled out the form. This person just talked to the cold caller, where I know that they're ready to talk to me today. So couldn't agree more than the fact that lead flow is critical to the acquisition's morale and mindset going into each and every day.

SPEAKER_01 10:36

I'm a 27-year-old entrepreneur making around$400,000 per month. It took me four years to get there. Here's how to do it in half the time. I started my journey trying every single hustle under the sun. If I were you personally, what worked for me was just going straight into wholesaling real estate. It's not that hard to learn, and you can do it with zero money. Alex Chermozi posted this great quote which said, If misery loves company, success loves solitude. Becoming a millionaire is not easy. It's actually quite painful. Every single millionaire I know spent years of their life by themselves, grinding on their business around the clock. The last and best piece of advice I could give you, don't pursue becoming a millionaire for the money. Pursue becoming a millionaire to get as far away from broke as possible. It doesn't matter if you make$100,000, a million dollars. If you change your mindset to that, there will always be this feeling that is haunting you. And that is the thought of going back to being broke. You could lose it all at any point. So the idea behind growing is continuously hedging against the possibility of that happening.

Closing Thoughts And Audience Ask

SPEAKER_05 11:37

Man, I don't know who that kid is, but he's got it right. I mean, he's got a good head on his shoulder. 27 years old, that's impressive. Because I didn't even start my verse business until I was 28. Like that's when the first actual LLC was set up when I was 28 years old. So for him to be 27,$400,000 a month is incredible. That that is a fantastic wholesaling operation. So he's doing a lot of things right, but focusing on one thing, love it. That's the hedgehog concept. That's what we talk about. That solitude. Getting in a place where the outside noise is ignored. The family, the friends, they disagree with what you're doing. Sometimes it's even the spouse who's like, But what are you doing? You're crazy. You've got to ignore that noise and get into your own little zone of genius where you're like, I'm gonna go prove the world wrong. I'm gonna go do something that majority of people are not cut out to do. And then the final thing where he's trying to run away from being broke as far as possible for any of us that have ever come in come from that place of being broke, yeah, it is it is a horrible place, and we will do anything to avoid that, including grinding away 12 hours a day, 20 hours a day when we've already been doing it for five, ten years. Because we know how bad it is to go back there. So just that fear when we start seeing things shift back to where it's like, oh my goodness, we're not growing anymore. Maybe we've even taken some setbacks, maybe the market's changing. I need to get back into that hustle mode, that grind mode. You don't want to live there forever, but running away from being broke is a powerful, powerful mindset trick. Alright, guys, that's our episode of the King Closer Reacts. Hope you enjoyed it today. If you did, show me some love in the comments. Make sure you like the video. We'll see you guys tomorrow.