Closing Around Regulations | Seller Call Film Room

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Transcript

Why Pennsylvania Forces Transparency

SPEAKER_04 0:03

Welcome back to seller call film roam, the series where I'm going to show you guys a live seller call, but give you one specific tactic that I want you to pay attention to. And today is going to be the most ridiculous, transparent closing of all time. And why? Because it was a deal in Pennsylvania that has one of the most ridiculous regulations against wholesaling real estate. They want us to be uber transparent, they want to give all of the power to the sellers. But unfortunately, for that regulation, there are still plenty of highly motivated sellers that need the solution that wholesalers provide. And so what you're going to see is me being really upfront and almost ridiculous in how transparent I am. Now, there's a little bit of tongue-in-cheek humor that I use during this close where I ask the seller, hey, please don't be a shithead and cancel this contract on me just because you can. But that's what's required in Pennsylvania. They want that transparency, and so I give it to them. I give it to the seller, and this leads to me getting a signed contract. And so you guys need to be paying attention to the regulations that are coming down in different states like Pennsylvania, Ohio, Oklahoma, where they are requiring us to be transparent and directly tell the seller I am a wholesaler. This is what I'm going to be doing. I'm going to be making profit. Are you okay with that? Do you understand your rights and how this transaction is going to take place? So, with that being said, enjoy this live seller close in Pennsylvania with the most ridiculous transparency that you'll ever see in a wholesale close.

Live Call Opens With The Seller

SPEAKER_04 2:02

Hi, is this the owner of 132? Is it IO Light? Is that how you say this street name?

SPEAKER_00 2:10

Um, I think so.

SPEAKER_04 2:14

So you guys filled out a forum on my website, I think a little bit ago, about wanting to sell that property. Is that correct?

SPEAKER_00 2:21

Yeah, hang on. Let me talk. Let me talk. Let me let you talk to him because it's his. Okay, cool. It's his property. Hang on one second. Let me fill out about your property. Oh. Uh hello.

SPEAKER_04 2:32

Hey, is this William?

SPEAKER_00 2:34

Yeah, this is him.

SPEAKER_04 2:35

Hey, William. I was uh just responding to you filled out a form on my website about selling that property. Is that correct?

SPEAKER_01 2:42

Oh, yes, I did.

SPEAKER_04 2:43

Awesome. How much were you looking to get for it?

SPEAKER_01 2:46

Um, I I don't care. Like I was gonna I was gonna tell say three I was gonna tell it to Camtram for 3,000.

SPEAKER_04 2:56

3,000? You're speaking, you're speaking my language.

SPEAKER_01 3:03

Uh but then like I said, I ended up I ended up getting in a little trouble and I got locked up, and then I just never pursued it afterward, you know?

SPEAKER_04 3:11

Gotcha. So how much you want now?

SPEAKER_01 3:15

Um I don't I don't know, it's probably somewhere around the same.

SPEAKER_04 3:19

All right. Well, I talked to a lot of people on it. I I don't know yet. I'm pulling it up, so I don't know anything about it. Three grand. You got me scared. I mean, what am I buying over here?

SPEAKER_01 3:30

Um, nothing. It's it's got a the roof is was replaced within the last 10. I put a brand new kitchen in it. Um when I went I went to South Carolina and the people that I rented it to, they took the heaters out of it. You know, it's just it's it's a house that just needs like electric baseboard put in, or you know.

SPEAKER_04 3:56

Okay.

SPEAKER_01 3:57

Um like it's got new, it's got new drywall, it's got um, you know, good boats, it's a it's a three-bedroom, one bathroom.

SPEAKER_04 4:10

Okay.

SPEAKER_01 4:12

Uh the yard is fenced in. It's a corner, it's a cornered lot. Um it's it's like uh like off of the creek, so like you get there's a parking lot and the whole like back of the house, you know what I mean? Behind the garage.

SPEAKER_04 4:31

Sorry about that. Um it sounds like it's in pretty decent condition considering it's but better condition than what I thought you were gonna tell me. I'll say that.

SPEAKER_01 4:48

Yeah, yeah, no, it's it's it's not it's it's actually not that bad. I was gonna um go to section eight because like they'll go to like if you have a property, they'll go to your house and update it and then put it on for section eight. Like I was thinking about doing that too, but I just got a I got a new girlfriend and new like we're getting married, and she don't want nothing to do with, you know what I mean?

SPEAKER_04 5:12

All right. Well, I'll be your Huckleberry.

SPEAKER_01 5:16

So yeah, I got a I got a um I got a house up in the antiglow and stuff.

SPEAKER_04 5:22

So I gotcha.

The Blunt Wholesale Disclosure Close

SPEAKER_04 5:24

Well, here's the thing, man. Uh, this is all gonna be glorious as long as uh we're both cool about this. So here's the deal. You live in Pennsylvania, and and Pennsylvania is is one of the wildest states ever for real estate. I don't know if you know this or not, but are you aware of uh some of the the stuff that your government has done lately?

SPEAKER_01 5:51

Um no, I know that they uh let me smoke weed.

SPEAKER_04 5:56

Well, they look they're gonna let you do a hell of a lot more and just smoke some weed, brother. So here's the deal. I need you to promise me that you're not gonna be a complete shithead to me, okay? Can you can you promise me that you're not gonna be a shithead to me?

SPEAKER_01 6:10

I'm not that type of dude.

SPEAKER_04 6:12

All right, cool. Me either. But here's the deal. So in Pennsylvania, because they hate guys like me, not because of me, but because of other people, I have to tell you that I'm I'm going to wholesale your property. And what this means is that I'm gonna give you three grand, and then I'm gonna go find somebody else to give me more than three grand because that's how I that's how I eat, right? That's how I make money. Yeah, so I have to tell you that I'm gonna make a profit off of this this house. You're cool with that, right?

SPEAKER_02 6:47

Yes, sir.

SPEAKER_04 6:48

I'm I'm also cool when I go buy a hamburger from McDonald's that they make profit, but in Pennsylvania, they really want you to know this, and I have to tell you that I'm wholesaling this now. At any point in time in the next two to four weeks, while we are closing, if you decide I'm really pissed off at RJ that he's only gonna give me three grand, you could cancel this, you could just flat out just cancel the contract at any point in time, and I have to let you know that there's nothing I can do about that. Oh, it's it's it's like five states in the entire United States that do this, Pennsylvania being one of them. So at any point in time, if you decide, you know what, RJ, your beard is too damn sexy. I I fucking hate you. Cancel the contract.

SPEAKER_01 7:40

You can come up here, you come out, show up my house with 1500 cash. I'll sign the paper.

SPEAKER_04 7:45

1500 cash right now, huh? So I just wanted to let you know that that's what's gotta go on. I gotta tell you all this. So this is this is my pitch, okay? Listen, I'm gonna give you the three grand. I'm not gonna give you 1500 because you're being more than fair with the three grand, okay? So what I'm gonna do is I'm gonna write you up a contract. I'm gonna send this over to you. I've got your email as hold on, let me send that over to you.

SPEAKER_01 8:20

I do I do uh well, I was getting into a recovery business and it was pinning and towing. I would tow your car and paint your windows.

SPEAKER_04 8:29

There you go. I love it. So this is um this is solely in your name, correct?

SPEAKER_01 8:37

Um yeah. Well, it's in my ex-wife's name, but we're divorced and she is she is no longer I can I can sign her name off on it, you know what I mean.

SPEAKER_04 8:49

Okay, but is she an owner of the property?

SPEAKER_01 8:52

No, no, she don't like she don't have nothing to do with it.

SPEAKER_04 8:57

Okay. Well we'll figure that out in title.

Contract Steps And Title Questions

SPEAKER_04 9:00

But I, anyways, I'm gonna send this contract over to you. You sign it, we'll open up title, and then we're gonna come out there, we're gonna do a walkthrough to make sure that it's still standing, no roof caving in, no water, fire damage, anything like that, and then we'll get you your three grand, okay?

SPEAKER_01 9:18

Okay. Uh, where are you where are you from? You from around here or no?

SPEAKER_04 9:21

No, I'm in Fort Worth, Texas, brother, but I got people out there.

SPEAKER_01 9:25

Okay, okay. But yeah, yeah, I'm not I'm I'm a straight shooter, man. You know what I mean?

SPEAKER_04 9:31

I I appreciate that. Well, I'm sure as you can tell, so am I. So so let's let's make this a smooth, easy transaction. So I'll send this over to you, and uh, once you sign it, like I said, my my team will reach out to you, Bari, tomorrow, if you get it signed tonight, and then uh we'll get everything scheduled for the Walter, okay?

SPEAKER_02 9:51

Yep, sounds good.

SPEAKER_04 9:52

All right, man, appreciate you.

SPEAKER_02 9:54

Yes, sir, buddy. Thank you.

Deal Debrief And Risk Check

SPEAKER_04 9:59

RJ, just close and buy it. I just wanted to do that for educational purposes on the on what what Pennsylvania demands of us as wholesalers. Um it's wild stuff, but uh dude, I that was uh that was pretty wild. I mean, I I need to do a little bit more research into that. What number was that?

SPEAKER_03 10:24

This one 46? Yeah, 46. There's gotta be something going on. Like it's livable. It's livable for three grand. Dude, he was saying he's done all kinds of stuff to it. It's a pretty it's a pretty depressed area, you know, but still.

SPEAKER_04 10:52

Yeah. I mean, for three grand, he's saying fifteen hundred if I can get him the money tomorrow. So my thing is, is let's just let's just uh Google Earth in it.

SPEAKER_03 11:04

There's a two-story house sitting there. I know that's like with like a nice sighting.

SPEAKER_04 11:10

I want to just call one of our buyers in the area tomorrow and just be like, hey, what would you pay for this?

SPEAKER_03 11:16

I mean, it does back up to like a like a commercial and like a chain link fence and stuff, right? But there's other houses around it. I mean, what I do with stuff like this, RJ, is I buy buy it for three grand. You know, you by the time you close, you're into it for four or five. List that thing for like 24.9 or something. Maybe you maybe you just wholesale it, but I just don't I just don't chance it for that cheap in Pennsylvania or any of these like heavy heavy regulation markets.

SPEAKER_04 11:47

I'm just going to to call a known buyer and just see if we can quit tournament. And if not, then we'll explore those other options. Yeah, yeah. Uh, but for three grand and he's already willing to come down to 1500, it's like let's just get it and and honestly let my team go deal with it from here. Right. I know that they hate when I say that, but it's like I I'll literally tell them tomorrow, they'll be like, RJ, what are the numbers on this? I'm like, I don't know. I got it for you for three grand, and he already said it's right.

SPEAKER_03 12:17

You go go deal with it. Yeah, you tell you tell your team, I got it for three grand, you guys. Who cares?

SPEAKER_02 12:23

Right.

SPEAKER_04 12:26

So, anyways, listen, man. I great showing by Red Panda today.

SPEAKER_03 12:31

Yeah.

SPEAKER_04 12:32

Um, I I I thoroughly enjoyed this. I refresh my memory. Did we have a straight, like bad conversation?

SPEAKER_03 12:44

Uh, where like the seller was rude, or what do you mean?

SPEAKER_04 12:47

Where we're like they didn't want to sell, or or they everybody spoke English.

SPEAKER_03 12:51

That was nice.

SPEAKER_04 12:53

I guess I got hung up on the one the one guy that everybody knew that by the way, that that in Colorado, my first call today, but that guy has literally been a lead through every PBL provider in existence.

SPEAKER_03 13:08

That's not that's no one's fault.

SPEAKER_04 13:10

I mean, dude, we had 200 people on it when it when we called him, and half the chat had spoken to him.

SPEAKER_03 13:16

Like you didn't even give the address, they just recognized him.

SPEAKER_04 13:20

Right. They were like, I know this guy, they were giving me the address and his last name, kind of like I gave him the price and everything. So yeah, uh, great showing by Red Panda.

Lead Source Breakdown With Red Panda

SPEAKER_04 13:30

So to break down how it works with Red Panda, it's a minimum of a thousand dollar deposit. When you deposit a thousand dollars, if you use the link that we gave you guys in the description, they immediately deposit an additional two hundred and fifty dollars into your account. So for a thousand, you get twelve fifty, and then you get to decide what campaign you want to buy the leads on. So for fifty dollars, you get nationwide, for a hundred dollars, you can get nationwide, but only the major metro cities. Okay, and then you can choose statewide or countywide for an additional amount. Uh, it is dependent upon the market. Certain states, certain cities and counties are gonna cost more, but fantastic value. I love the fact that they have the metro nationwide leads, Jerry. That yeah, I think that's great for nationwide teams like my my company. I mean, to to give an additional option there to avoid some of those rural leads that that are the bane of all of our existence. Yeah, um, that's a great option for you know $100 in comparison to $50. But I I thought this was a fantastic showing by Red Panda um coming in and providing these leads today. Um, I don't know what our connection rate was, but I'm assuming it was pretty close to 50%. So, and and you're you've sent somebody on an appointment right now. You sent a contract, you've got a potential second contract. I've sent two contracts and then two follow-ups on offers tomorrow. So, I mean, we easily could walk away from this with four or five five, six, five, six, seven contracts if they can all pan out there. So, great showing by Red Panda. Good stuff, man.

SPEAKER_03 15:24

Yeah, hope you guys got

Results Recap And Next Tuesday Plan

SPEAKER_03 15:26

a lot out of this. You know, make sure you share with us your takeaways, things you're stuck on or didn't understand. You know, that helps RJ and I know like what to talk about, explain better, and so on.

SPEAKER_04 15:36

Yeah, so uh this has been three three Tuesdays in a row. I mean, is this like a Tuesday thing now? Are we just gonna do it again next Tuesday? I don't know.

SPEAKER_03 15:51

I guess I like doing it.

SPEAKER_04 15:54

Well, yeah, well, I guess we'll just leave it up. I mean, I'll say this. I'm open. My my team asked me the other day, they were like, RJ, you know, on these Tuesday lives, you always go live. Why don't you just do live seller calls every Tuesday? And I was like, Well, sometimes, you know, three, four hours, you know, it I do a video every single day. So three, four hours, I mean, it can take a little bit out of you, but with having you on here, man, it kind of makes it easier. I mean, because you like to talk a lot. I mean, you talk basically like three of the four hours today, and so it makes it really easy for me. I just pretty much just get to sit here and watch Jerry Norton talk to sellers. I mean, while you go to the bathroom, yeah. I mean, that's also cool. I can just take myself off the screen. So, but uh well, we'll we'll talk about it. We'll we'll see.

SPEAKER_03 16:44

Let's talk about it, but I but I'm available next Tuesday if you want to do it again. All right, let's run it. Let's do it.

SPEAKER_04 16:49

Uh actually, if you guys want us to do it, drop a comment in the chat. Let's boost the algorithm. Yeah, and we'll do that. So, Jerry, I appreciate you, man. I love doing this. Uh, red panda, appreciate you guys for coming on, uh, providing the leads today. Love introducing you guys to the community. So make sure you like the video. Shout out Red Panda, and we'll see you guys next Tuesday. Let's do it.