King Closer Reacts | Here's What They Got Wrong

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Transcript

Welcome And The React Format

SPEAKER_05 0:05

What's up everybody? Welcome to the King Gloser Reacts. I am the King Gloser RJ Base III. And this is a series where I'm going to watch some short videos, probably tell you why I disagree. You'll probably laugh, and then we'll kick over to the next video. Let's get into the first one.

SPEAKER_06 0:21

I know that we're just gonna sell it.

SPEAKER_03 0:23

Yeah.

SPEAKER_06 0:24

And then they'll show my payments and I'll have to help over the payments and always get you the right.

SPEAKER_03 0:29

Yeah, that's tough. It's not as like you said, it's not as easy or as simple as.

SPEAKER_06 0:33

I don't have that money now. I can't feel it.

SPEAKER_03 0:38

I mean, like you said, if you know, getting money for 45 days to clear up whatever we can from the outside because they won't let us inside, but Oh, she's been out there every day, all all day, just getting wow, wow, for down payment and and then having money left over for payments for a while, you know, it's is the best oh man.

SPEAKER_06 0:58

Me and the daughter, my only dog. I feel so bad about that. He's getting orangey up for doing that. And I'm just like, okay, I'm gonna pull my head out of my house and call my mom, and I can't even let me do it. Like I said, I my brother and my my brother's going through hair calculations too, and he's like, 'cause he he's in an atmosphere all of a sudden. I'm just like, what do we do? And he's like, and then I feel so bad at the body because I haven't been there to help her, but like she knows I'm just I mean, I'm like in wreck. Right. So she's been out there every day from 7 a.m. to 7 p.m. She knows, I'm sorry, it's somebody.

SPEAKER_03 1:38

No, no, not at all. Not at all.

SPEAKER_06 1:40

I just I mean, I know I'm no one's that's a wrong answer. I know I can, but I just I I can't right now. I just got here and I'm just like, oh my God.

Staying Quiet On Emotional Calls

SPEAKER_05 1:53

Man, those types of seller calls are are difficult to to manage. And honestly, I thought the caller did pretty deep. I mean, obviously, we're seeing an edited version of this call where we're only getting bits and pieces. But I thought he did a really good job of staying out of the way. Just kind of letting the seller um get all of her emotions out and and not really step on her her toes and try to interrupt and redirect the conversation, which I've seen that sometimes. It's really hard to emotionally kind of connect with a seller like that when they are so emotional about whatever's going on, you know. It sounds to me like this is her mom's house, and then as the daughter, she feels responsible. I couldn't quite understand what was taking place there, but it's she obviously is very upset about what's taking place, and so he needs to allow her to get all of that out, and then once that kind of is played itself out, then kind of come back to okay, now I can be your solution. I thought he did a really good job of not trying to change the topic or even convert it over to his own story where there's a connection. Just allow the seller to be heard, listen to them and stay out of the way. Um, I have always said when you have those types of seller calls, it is imperative for you to take a break emotionally after it. I get it, we we want to work, we have our leads, and you want to grind away and all this, but that call takes a toll on you. I personally would want to take like a 30-minute break after that. Go outside, get you some sun, take a walk, grab a snack, do whatever you need to do to disconnect from that emotional toll. So then you can be prepared for the next call. Because there's no guarantee that the next call is not gonna be just like that. There is an absolute possibility that the next seller you call is going to have just as much of an emotional journey that they're gonna take you on. So make sure you can give 100% to that next call just like you did on

The Hidden Cost Of A Deal

SPEAKER_05 4:10

this one. Overall, I thought that was a very, very good call.

SPEAKER_02 4:13

Definitely phone calls, though, is the cheapest, man. I some of my friends that uh do wholesaling as well, you know, when they tell me what their cost per deal is, is like three to five thousand dollars because you're doing mail or you know, they have a huge team. And I'm like, dang, three to five thousand dollars. You just saw right now, nine hundred and ten dollars and made twenty thousand. That means my cost per deal, I I've I've done my cost per deal before and it's around like 700 bucks. I know that every time I spend $700, I'm gonna get a deal, and you guys will be able to track those metrics over time when you guys start wholesaling or you guys start investing more time and more money into it. Now remember, like I told you before, putting $500, it will get you started. But is it gonna get you your first deal? I mean, it's up in the air, man. It you could, you might not, but unless you just keep going, look, I have no guarantees of getting a deal, but I knew that my efforts where they were going, I was gonna run into a deal sooner or later.

How Lead Gen Changed The Game

unknown 5:06

Definitely phone calls.

SPEAKER_05 5:08

I mean, I I couldn't agree more with the the average cost per deal. I remember 2017, I was interviewing a uh at the time a fairly large wholesaler in Arizona, and during the podcast, he said, my average cost per deal is $10,000. Because back then, I mean, it was you had to have a massive cold call team, you were doing direct mail, bandit signs, PPC, SEO, things along those lines. And that's just how competitive the Phoenix market was. Now we find ourselves in this day and age where we have these lead providers that are positioning us to be able to go out and get sellers already ready to sell a property, that that's where our dollars and cents are spent. In the past, we had to spend so much money on people that weren't even interested in selling houses. We were searching for those people to generate leads. Lead generation has become so simple that our average cost per deal, especially if you paid attention to yesterday's video, if you're focused on developing your skill sets and you're developing the opportunity to be able to close as many closable leads as possible, that's where you end up with that $700, $800,000, $900 average cost per deal. And then if you're talking about the nationwide average of $15,000, that's how you run a highly profitable wholesale operation.

SPEAKER_00 6:38

I believe that this entire business is sales and marketing. So if you can refine those skills, you will be successful. Okay. Um now my goal in my business is to wholesale every house. Okay. Now, the power in knowing how to do sales and marketing is learning how to get these distressed sellers into your door, or in our case, knowing how to get distressed sellers to call you, or to how how you can physically reach out to these sellers, okay? And it's all through marketing channels, right? So what is marketing? Marketing basically is sending the message out to the masses in order to draw their attention and bring them in to your last time we had Grayland on.

SPEAKER_05 7:34

I mean, I did shit all over. I mean, that was a good video for like 2017. It's 2026. Um if he had taken the marketing to like dispositions, I could have been like, okay, well, I kind of see what you're talking about. But when it comes to figuring out how to talk to sellers, how to get people to call us, or we can call them, I mean just reach in here and this one looks good. You know, blare out those numbers, okay? So all you gotta do is swipe the card and call them. I mean, I I not to beat a dead horse, but we you know, Jerry and I have been going live basically every Tuesday. We missed a couple because you know Jerry travels and goes and does things, but when he's available, we've been going live together, calling sellers, and I mean every single time we're just getting leads and calling them and closing deals. I mean, Tuesday, 11 leads dialed, seven sellers connected, six contracts sent, three offers to follow up on. That's nine potential contracts speaking to seven sellers. We only had one bad conversation, everything else was good. It's just not, it's we're not in that day and age anymore. And sales, well, we're not we're not selling anything, we're buying. It's your opportunity, it's your ability to be able to connect with the seller and make them sell you on the property to diagnose what do they need from this? What is their true purpose? And if you could do that, then you're great. That video is just outdated.

Why Viral Wholesaling Advice Misleads

SPEAKER_01 9:30

This is the easiest way to wholesale real estate if you've never done a deal before. And if you want to get started, I'm gonna break down each step so you know exactly how to do this and how you can make $25,000 just like this deal. So we have a homeowner that calls us up that's in distress. They're looking to obviously sell this property, they want to get it off their hands, they want to get it done quickly. And so they call us up, right, as this wholesaler, this investor, and they say, Hey, Kyle, I want to sell my house for cash. We say, Cool, we can obviously talk about pricing. We look at the comps and area. We come out and we're like, hey, Mr. Seller, we'll give you $400,000 cash for this deal. They're like, Cool, let's do it. What the next step is is that we sign a purchase and sale agreement. This purchase and sale agreement is gonna be binding between us and the seller to give them their $400,000. After we have that signed contract between us and the seller, what we're gonna go do is we're gonna go sell it off to our rich investors that wanna buy these houses to either fix up, keep in their rental portfolio, whatever that looks like, but we're gonna add some money on top. And so I'm gonna sell it to these rich investors for another $25,000. And then as soon as we have that, we have another agreement that goes between us and the title company. And that title company is obviously gonna handle the assignment, they're gonna look at the purchase and sale agreement, they're gonna do all of the de transfer over to this rich investor from the seller, and then most importantly, they're gonna go ahead and get the seller that $400,000, like we promised, because that rich investor is gonna go fund.

SPEAKER_05 11:00

And that, ladies and gentlemen, it's wholesaling. Now, to get started, you just sit there and you wait on those sellers to call you. And then you just do what he said. I mean, listen, we've all made videos like this, but I don't think I've ever made a video that bad. I don't. I think I broke it down a little bit more detail. I just I don't understand the purpose behind this. Is it that was on TikTok? I had 40 likes on it. I think it's just literally to go get the people that have no clue what it is that we're doing at all, but it's somewhat misleading. I mean, there's just the nuance and the how do you do this? And so I'm assuming at the end, before I just couldn't take it anymore and I threw my phone, I'm assuming he's gonna be like, and if you click on that link below, I'm gonna show you exactly how to do this. I get it. It's marketing, you gotta do your leads and get your lead magnets out there and get them in your funnel. But I just wish that we were just a little bit more detailed about what wholesaling really is.

Google Ads Claims And Copycat Videos

SPEAKER_04 12:14

Been in real estate for the last two and a half years. Today I had a $9,000 closing, and on Wednesday I had $26,500 closed. And here's exactly how I did it without using a single dime of my own money. Basically, what I do is I find these properties, I contact the sellers, I get them under contract, and then I wholesale out the property to an investor. For these three properties in specific, we ran Google Ads to find the sellers. They filled out our form, they submit all their information, and one of my guys on my team called them and qualify them. From there, we lock up the contract, sell the contract for hire, and then obviously keep the difference in between. You've probably heard of wholesaling real estate, but the majority of people tell you to cold call, they tell you to drive for dollars, they tell you to door knock. I don't believe in any of that stuff. I only believe in running real marketing and setting up the business like a real business, and that is ultimately how I close these deals today. Close these deals today. Been in real estate for a lot.

SPEAKER_05 12:59

He also just went through puberty. I don't know. I these kids, I they all make the same videos. It's like I'm fairly certain that Richard Taylor has a course out there. Him or Max Dier. They have to, where they're like, here's how you're gonna grow your following. You're just going to say the same thing over and over and over again about how much money you make getting these houses under contract and this explaining wholesaling, and and you're just gonna repeat that over and over. Am I the only person that actually just dives into like super detailed shit about wholesaling? Is it just because I'm an old head now? Am I unk? Did I? It happened, didn't it? Fuck. Well grandpa is done. That's it. I'm I'm the old man, and that's why I talk super detailed. I'm am I the 2026

Closing Thoughts And Goodbye

SPEAKER_05 14:06

version of Ron Legrand?

unknown 14:09

Oh my god.

SPEAKER_05 14:10

Alright, well, I'm gonna go contemplate my life now. This is the King Closer Reacts. I really hope you enjoyed it, and uh show me some love so I don't go cry myself to sleep on this beautiful Saturday. See you guys tomorrow.