Seller Call Film Room | The Transparency Test

Want to work directly with me to close more deals? Go Here: https://www.titaniumu.com
Want the Closer’s Formula sales process I’ve used to close 2,000+ deals (FREE) Go Here: https://www.kingclosersformula.com/close


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

_________________________________

With over 2,000 Videos, this is the #1 channel on YouTube for all things Virtual Wholesaling. SUBSCRIBE NOW!    https://www.youtube.com/@RJBatesIII

_________________________________

RESOURCES FOR YOU:

If you want my team and I to walk you through how to build or scale your virtual wholesaling business from A to Z, click here to learn more about Titanium University: https://www.titaniumu.com

(FREE) If you want to learn how to close deals just like me, The King Closer, then download the free King Closer Formula PDF: https://www.kingclosersformula.com/close

(FREE) Click here to grab our Titanium fleet free PDF & training: Our battle tested strategies and tools that we actually use… and are proven to work: https://www.kingclosersformula.com/fleet

Grab the King Closer Blueprint: My Step by Step Sales Process for closing over 2,000 deals (Only $37): https://www.kingclosersformula.com/kcblueprint

Grab Titanium Profits: Our exact system we use to comp and underwrite deals in only 4 minutes. (Only $99) https://www.kingclosersformula.com/titaniumprofits

Transcript

Legal Lines And Signed Contracts

SPEAKER_01 0:03

Welcome back to Cellar Call Film Room, the series where I'm going to show you guys a live seller closed and give you one takeaway to pay attention to. Today I want to talk about transparency, explaining to a seller that you are a wholesaler and what that process looks like. The fact that we're not selling a property, we are assigning our equitable interest, breaking down that with authenticity and honesty, and explaining it to the seller so they can understand it, build credibility, trust you, and to get them to sign a contract. Now, a couple of different things that I want you to really understand. When we are doing this, we need to make sure that we are not brokering real estate. You're not selling the property. You are assigning your equitable interest. That's a key factor here. You also need to make sure you're getting a signed contract. That is your piece of leverage with the seller. You need to make sure that you're explaining that to them. Don't tell them that you're going to go out and sell the property. You're not going to go talk to your buyers before having a signed contract. You cannot do that. That's what can get you in trouble. And so you need to get that signed contract. But in this scenario, the seller was so motivated, and there were so many issues that were going on, so many problems that we needed to solve that it was important for me to be transparent. There was no regulation. This is a lead in Florida. This was really me sharing the best case scenario for her because of her motivation and her problem. And me needing to explain to her that I was a wholesaler was because of that. Sometimes, you know, wholesalers want to hide that. They feel embarrassed or they feel like it might run them off because the sellers know that we're going to make a profit. That's the wrong way to think about it. You need to look at it and say, if this were my mom, if this were my grandmother, would I want that other person to tell the truth to my mom or grandmother? Would I want them to explain that they're going to go wholesale the property, that they're going to make money, but then also provide value by moving this in a timely manner and understanding that, hey, this wholesaler might know who the actual buyers are and where they're going to purchase. And also explaining transparently how much money they're going to make. You'll see that I actually tell the seller exactly how much money not only I was going to make, but how much money I did make. And I want to make sure that that's very clear here. I told her up front, I think I'm going to need this property for less. We did. I also told her exactly what I wanted my assignment fee to be. I also told her that it was low, but I understood that her situation, I understood that she needed as much money as possible, but also I am running a business where I have to take care of my family. And so we needed to make profit on this, which we did. And it was a$5,000 assignment fee. So it was a win-win-win situation. A win for us, a win for our end buyer, and a win for this seller. So without further ado, enjoy this live seller call with complete transparency, honesty, and how to explain wholesaling to a motivated seller.

SPEAKER_00 3:49

Hello.

SPEAKER_01 3:50

Hi, it's Deborah there.

SPEAKER_00 3:52

This is Deborah.

SPEAKER_01 3:53

Hey Deborah, this is RJ Bates calling back your property on 64th Street. How are you doing?

SPEAKER_00 3:58

I'm doing okay.

SPEAKER_01 4:00

You had uh entered this on my website saying that you're looking to sell that property. Is that correct?

SPEAKER_00 4:06

Yes.

SPEAKER_01 4:08

Excellent. How much are you looking to get for it?

SPEAKER_00 4:11

Well, I'm asking 125k, um, but I can be uh flexible.

SPEAKER_01 4:20

So it is a mobile home. Does it also come with land?

SPEAKER_00 4:26

Yes, it's one-third of an acre.

SPEAKER_01 4:29

Okay.

SPEAKER_00 4:29

Yeah, it's private property, so there's no rent, no HOA, um, no age restrictions.

SPEAKER_01 4:36

Gotcha. And you said 120.

SPEAKER_00 4:40

125 is my asking price.

SPEAKER_01 4:43

125. Okay. Um, how old is the the home?

SPEAKER_00 4:49

It's an 83 and it does need repairs.

SPEAKER_01 4:57

All right. Are you currently living in it or is it vacant?

SPEAKER_00 5:07

Uh no, I actually purchased it for my um former husband to live in um and to, you know, do some renovations. And he and his cousin have been living there. Um he passed away in April. So his cousin is there, and um I actually have no longer need of it.

SPEAKER_01 5:30

Okay. I'm sorry to hear about his passing.

SPEAKER_00 5:34

Yeah, me too. Thank you.

SPEAKER_01 5:42

Give me just a few seconds here to look around the area, see what we got going on. How did you come up with the number of one twenty-five?

SPEAKER_00 6:05

Um, basically I paid um 75k and um I have done some a lot of cleanup, replaced the water heater, replaced all the piping, the plumbing, um, to working appliances in, got the electricity turned on, got the water turned on. Um cleaned a bunch of garbage out of the property. And so um, based on current values, I think that's that's a pretty fair price.

SPEAKER_01 7:08

I see one that sold for one sixty. Um it wasn't overly fixed up. Well, it wasn't fixed up at all. I just um what I'm curious is is if someone were to buy that for one sixty, where is the where is a value of one that eventually got fixed up, I guess is the best way to put it, you know? Um so I when you bought it for 75, I mean, how much did you think it would be worth once you fixed it up?

SPEAKER_00 7:50

Um I I don't know.

SPEAKER_01 7:53

Right.

SPEAKER_00 7:54

You know, again, my my motivation was to my my my former husband's an alcoholic and he's been through rehab, so I wanted him to have a place to live. So I was you know, that home gave me both. And and my you know, and my um focus was more on um providing him a a place to live.

SPEAKER_01 8:20

Yeah.

SPEAKER_00 8:21

So um, you know, I was hoping we'd be further along, but then I caught COVID and lost my income uh because I wasn't able to work for about six months. So um we're not as far along as I had hoped we would be.

SPEAKER_01 8:34

I see. So if you look at um there's a property 5710 64th Street, um it is a nineteen eighty-three. Let me verify that's the year 1973. Um mobile home that was fixed up, and I mean it's in it's in really good shape. New cabinets fixed up, livable, nice floors, you know. They someone came in here and and did some work to it for sure. Um that sold for 150.

SPEAKER_00 9:27

Okay.

SPEAKER_01 9:28

Um, so that how much property is it on? Uh let's see here. It was on a 10,000 square foot lot.

SPEAKER_00 9:43

Okay, so I've got more property with a third of an acre.

SPEAKER_01 9:50

Yeah, but realistically, I mean it the house itself is where the value really sits. Um I mean, even if we just gave a couple of grand to the the extra square footage of of land um and said yours could be worth 155 fixed up. I mean, I'm probably not gonna be much higher than what you paid for it. Um so and I know that's probably not gonna work for you. Um there's not a whole lot of motivation there.

SPEAKER_00 10:31

Uh honestly, right now, um I am very motivated to show it. I no longer want to deal with it again. You know, my husband lived there.

SPEAKER_01 10:42

Right.

Investor Math And Motivation Test

SPEAKER_00 10:43

And you know, I I I don't I I don't want to uh I don't want to have to do any more than I need to. Um so you know, I'm I'm considering all of the offers that I get. And then you know, if I can come out and um you know, I've got to replace the car that I sold to to Barry Ann. So um geez. You know, that's if if I can uh you know uh close that out, if that's old, get me a car, I'll be good.

SPEAKER_01 11:20

Do you owe anything on it or do you own it free and clear?

SPEAKER_00 11:25

Um I owe 45k.

SPEAKER_01 11:28

Okay. Um what I could do for you, I mean, because honestly, I was I was just gonna probably get off the phone with you and say, you know, there's probably someone better out there to help you with. But the more you keep telling me, the more I'm like, okay, there are things that we can do. Um it just kind of depends on realistically, like you just said, you're you're motivated, you want to be done with this. So if that's the case, what we could do is if I say this could be worth 155 fixed up, and then I say it probably needs, I don't know, let's just call it 30,000 to get fixed up to that level. Um what I could do is is I could put this out in front of all of the investors that I know in the area, um, which I have a system in which I can identify the cash buyers in the area um and send it to them and and see, and I can get offers to see um what our offers could come back from all the investors and kind of expedite the process for you there. But like I said, I think we're going to be more, you're probably going to end up somewhere in the range between 60 to$70,000 is what you're probably going to end up with. So if you're that motivated and you want me to try that, and I can come back and tell you, like, okay, hey, I got an offer for this much. This is how much I want to make. So, for example, say if we got an offer for$78,000, I would say, okay, buyer's gonna pay$78,000, I'm gonna make eight, and you take$70. If you want to do something like that, I can do it. Um, it just depends on if you're really if you just want to be done and kind of let me go see what I can get somebody local to pay for it, then I can I can do that for you. But I'm just telling you, it's gonna be somewhere in that$60,000 to$70,000 range, more than likely.

SPEAKER_00 13:50

Okay. Well, I would uh honestly I would like to get um$75,000 uh because that's what I paid for it. And I like I said, I have done some work um on it. So if you can get me somewhere close to that, um I'll be okay.

SPEAKER_01 14:06

Well, my that's what I'm saying. I'll try to get you as much as I possibly can. Um I just I don't know. I I'm just basing it off of what I think the values are um from what I'm seeing, um and understanding how investors are gonna look at it. And as as much as I hate to say this, you know, I mean the investors, they're not going to really care what you paid for it. You know what I'm saying? So they're gonna run their numbers and they're gonna say, yep, I can do if they say they can do$75,000 for it. I mean, I can't do all of this work and not make something. So if that's the case and we get an offer at$75,000, then I'd be willing to do that for like$5,000. Um, and you take$70,000, but I don't want to go out under the pretense of you have to make$75,000 because I don't have the confidence that we can move it for more than that.

SPEAKER_00 15:03

Okay. Well, let's let's go ahead and see what you can get.

Equitable Interest Explained Clearly

SPEAKER_01 15:08

Okay. So what we have to do in order to do that is is I have to get what's essentially a what's referred to as equitable interest. So I have to have some sort of contract in order to do that. Um, so I would need to send you a contract, and what I could do is I can send it to you for the 75, um, just under the pretense that you understand I'm gonna come back to you and say, hey, this is what we're getting. If we if we sign a contract at 75, I'll try to market it at 80. So I'm not trying to make a whole lot, and then whatever we come back at, I'll just let you know, and you'll be able to see that. So it's not like I'm gonna go try to make 30,000 or something like that. You know what I'm saying? I'm I'm realistically just doing this to try to help speed up the process for you because this could be a lengthy process for you to try to get a hold of a lot of people that I already know and I already have the system. So I could just mean this is one of the things that we do for a living, you know what I'm saying? So so what I can do is is send you over the contract. Um, I have your uh email as okay. So um whenever we complete this deal, I'm gonna have to ask you where that email came from because uh I'm sure there's a story behind it. Um but yeah, I'll uh I'll send you over the the agreement for the 75,000 and then so we can get the process started. And uh do you have pictures of the the property as it sits today?

SPEAKER_00 16:51

Um yeah, I took a couple, I didn't take any pictures in inside because it's uh it's being occupied right now. Um, but I have outside pictures.

SPEAKER_01 17:03

Okay, and then on the the occupancy of it, are we gonna be able to send people over there to see it?

SPEAKER_00 17:12

Um yeah. Uh the the guy that's in there, his name is Jane, and I and if we're working together, I'll give you his phone number. So we just let him know that something's coming and what ones are coming.

SPEAKER_01 17:23

Yeah, because that'll be like the first, I mean, it would be awesome if he could take some pictures at the inside too. Um, because first thing we do is is we put together a packet, all the pictures, here's the price, here's all the information, we send that to the investors, and then that's gonna be the first question is how can I get over there to see it? You know, they're probably all gonna want to go see it, and then they're gonna come back, and then there'll be a wave of offers, you know. Okay, I will give you this much, this much, this much, and then we'll be able to get it taken care of.

SPEAKER_00 17:56

Okay, well that sounds great.

Debrief Mobile Home Deal Strategy

SPEAKER_01 17:58

All right, uh, Deborah. Well, I'm gonna send over that contract to you, and then uh, like I said, we'll get the process started, okay? Okay, all right, thank you, ma'am. Bye-bye. Appreciate that, Matt. To be honest with you, dude. I just I didn't want to do the deal. 1983 mobile home. Unfortunately, there's actual comps for it, so it kind of makes it like not the typical mobile home. Um Joshi Boy. I know I I feel kind of strange saying like I I just didn't want to do the deal, but um I got the the Joshie Boy special. You're gonna love this one. Are you ready for it?

SPEAKER_00 19:08

I'm so ready, I have no idea.

SPEAKER_01 19:13

1983 mobile home that needs work. So you're asking it right at termination or okay. So here's what it is. There's actual comps, okay? Case in point, right here. 1973 mobile home that was fixed up that sold for 150. She has more land than this does, okay. And this is in Florida? This is in Florida. Oh, yeah, no, you're fine. Okay, so she bought this for her what she refers to as her former husband to live in, who was a recovering alcoholic, and he died. And then she got COVID and lost her job because she couldn't work for six months. So she is like, I just want to be done. Um, she wanted 125, and I gave her the whole, yep, I'm just not gonna be your guy. Right. And then she was like, I mean, just what could you do? So I what I told her is she paid 75 for it and has done electrical work to it and done stuff, right? So what I told her is I said, I will send you a contract for 75. And we are going to market this to our buyers, but you need to be prepared to sell this anywhere from 60 to 70. And we're not going to poke you in the eyeballs, but we're going to make something. So I need you to be prepared that if we get an offer for 65, you're going to accept 60. Okay. And she said, okay. I mean, that's as simple as it gets. So it's she has pictures of the outside. There is someone living there that can get us pictures of the inside. And it is literally just send it, and whatever we get is what she will accept.

SPEAKER_00 21:18

It's insurable, right?

SPEAKER_01 21:19

83. Um, yes. The cutoff's 80, right? I think 78. 78. But I'm could be, I don't know. I don't like mobile homes. I don't either. I almost always just cut them off. Um, so that's that's the arrangement.

SPEAKER_00 21:38

I will get after it.

SPEAKER_01 21:40

And I I saw you leaning first, so you're the lucky one.