I Told The Seller I Was Wholesaling...Then Got The Contract

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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
​Flipped houses in 11 states
​Closed on over 2,000 properties
​125 contracts in 50 days (all live on YouTube)
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Trained thousands of wholesalers to close more deals

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Transcript

What To Watch For Today

SPEAKER_00 0:03

Welcome back to Live Seller Call Film Room, the series where I'm going to show you guys a live seller call, but give you one specific thing to pay attention to so you can take away from the seller call. And today it's going to be how to explain wholesaling real estate to a seller when you're trying to get a signed contract. Now, in this circumstance, what you're going to see is that this is a lead in Louisiana. The seller is moving across state lines. They're actually the husband has already accepted a position in a job in Florida down by Tampa. And so their separation of family. And they're motivated to sell their property, but it's also causing stress. And they don't know quite what to do to get out from underneath this existing property so they can move across state lines. This would be a scenario in which wholesaling can absolutely help this family. And so you're going to see at about the 10, 12 minute mark, I'm just going to go full transparent with the seller and say, hey, look, based on the location, I have no desire to want to keep this property. And then I explain what wholesaling is to the seller to bring that certainty on what's going to take place. I'm not playing with their lives. I'm not sitting there saying, oh yeah, I could absolutely give you $95,000 as if I'm the in buyer. And then they think they sold their property when I still then have to go out and dispo this and find an in buyer. And so this is one of the things that the regulations are bringing down throughout the United States, where multiple states now have requested that wholesalers bring this level of transparency when they're talking to sellers. So this is the second time on live seller to call film room that I've kind of showcased me being transparent with a seller so you guys can kind of understand. There's really this is not going to hold you back from being able to get a signed contract. If anything, it's bringing more certainty and it's bringing credibility to the seller and the fact that we are transparent, that we are telling them exactly what we want to do and what we can do by assigning our equitable interest in that signed contract, not selling the property. So I wanted to show this so you guys can start adding this to your arsenal, start being more transparent with sellers, and just letting them know my intentions are to wholesale your property. So enjoy this episode of Live Seller Call Film Room. Let me know. Did you enjoy this? Let me know in the comments. Regardless, show me some love, like today's video. We'll see you guys tomorrow.

Seller’s Move And Motivation

SPEAKER_02 3:02

Hello.

SPEAKER_00 3:04

Hey, is this the owner of uh one two one? I'm gonna butcher this name, Jeremy Lane.

SPEAKER_02 3:12

Jeremy Lane, that would be me.

SPEAKER_00 3:14

All right, did pretty good. Uh you had entered this on my website saying you wanted to sell me that property. Is that correct?

SPEAKER_02 3:21

Uh yes, we are interested in selling the house.

SPEAKER_00 3:25

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

SPEAKER_02 3:28

Uh I'm looking to see if I can get between 90 and 100.

SPEAKER_00 3:33

Alrighty. What's um are you currently occupying the property?

SPEAKER_02 3:39

Yep, I currently occupy it, but we are moving out of state.

SPEAKER_00 3:44

Gotcha. Uh, where are you moving to?

SPEAKER_02 3:48

Florida.

SPEAKER_00 3:50

Oh man. I got all kinds of deals down in Florida. Um, maybe I can sell you a house.

SPEAKER_02 3:57

Um what's that? I said we will be looking. My husband just accepted a job offer.

SPEAKER_00 4:05

What uh what city?

SPEAKER_02 4:08

Uh it's the Hillsborough Police Department, so it's around Tampa.

SPEAKER_00 4:13

Around Tampa. You know what? We uh we just sold the property in Bradenton, uh, which is south of Tampa. Um we have any more in that neck of the woods. Um that's a or the big old state, you know. Um but but though uh going back to this property, so is it 2,079 square feet? Is that correct?

SPEAKER_02 4:43

Uh yes.

SPEAKER_00 4:46

Gotcha. All right, I'm gonna have to broaden my range here. You got a bunch of smaller houses around you.

SPEAKER_02 4:55

Uh yeah, this this house, if you're looking on it, uh looking at it on a uh like the downside from the from like a satellite image.

SPEAKER_01 5:04

Uh huh.

SPEAKER_02 5:05

Uh if the yard is dishonest and there's just had uh it's a bar right now, but it's a detached. Or just had a building.

SPEAKER_01 5:20

Gotcha. So I'm looking at it from the satellite image now.

SPEAKER_00 5:31

So the the building right there off of Bayou, is that what is that?

SPEAKER_02 5:37

The building off of the bayou is actually gonna be torn down. It's uh only about three-quarters of it is left standing from Ida. Uh, some new people just bought that property uh within the last year, and they're they told me they're tearing it down. It's nothing, actually. It used to be um, if you look at the the metal building at the very, very front of the street on the opposite side of the street, and then the next street, the building in front of there, those are post companies that were owned by two brothers, and that building in the middle is where they did their boat repairs.

SPEAKER_00 6:13

Gotcha. Um, where where is your house? If I'm okay, so the big metal building right off by you, that's getting torn down. And then how far down Cherney Lane are you?

SPEAKER_02 6:29

I am the first house on the left hand side. I I'm literally the house behind the big great metal building, or down the street from it.

SPEAKER_01 6:40

Gotcha.

SPEAKER_00 6:44

All righty. Uh let's drop my little guy right there. So you've got the brown roof?

SPEAKER_02 7:00

Yeah, I've got brown roof, brown door, and blue door.

SPEAKER_01 7:04

Gotcha. All right.

SPEAKER_00 7:19

Let's see what we can find here in some value. So does the house need any work to it, or is it in just really good condition?

SPEAKER_02 7:29

Oh, we are finishing out the work in it that needs to be done. Uh, that was basically left over from the hurricane, which is we have stealing cattle left to put us. They're already bought, we've already got somebody coming from it.

SPEAKER_01 7:41

There you go.

SPEAKER_00 7:44

Uh so as I'm looking things up here, if you don't mind me asking, how did you how'd you come up

Pricing Logic Mortgage And Appraisal

SPEAKER_00 7:55

with the the the price of 90 to 100?

SPEAKER_02 7:58

Oh, easy. I inherited this house. Unfortunately, my mother had to take out a mortgage for her medical bills right before she passed away. Uh, the balance on that mortgage is $70,000. And I need $30 for a down payment. I know that the house is worth about $150 to $160.

SPEAKER_00 8:20

Okay. I like what you're throwing down. Um the $150 to $160. Where, because I'm I'm struggling to like I've got other properties that are less. I've got some properties that are more, but then there's owned commercial. How did you where are you getting the it could be worth $150, $160?

SPEAKER_02 8:46

Uh my mom got it appraised uh right before she passed away, which is about a year and a half ago.

SPEAKER_01 8:52

Gotcha.

SPEAKER_02 8:53

Uh, so I'm going off with that appraisal. And I know that property values, at least selling price, have gone up here since Hurricane Ida, because uh about 25% of the houses didn't survive the storm and aren't here anymore.

SPEAKER_00 9:07

Right. Okay. Um so the house doesn't need any work. And you've got an appraisal for $150. You need 90 to 100 so you can pay off the mortgage, take your $30k, put a down payment on another house. Um sounds like this could be something I could do here. You have an actual physical copy of that appraisal.

SPEAKER_02 9:47

Uh, I do have it. I will have to locate it. It might take me a day or two to get it to you, but I know that another box up because we are actively hacking to move, but I can get it for you.

SPEAKER_00 10:01

Gotcha. Um, let me look at one other thing here. What uh when are y'all m are you moving? Sounds like you're actively is it when you sell the house or do you guys gotta get out before then?

SPEAKER_02 10:57

My husband is uh we are literally leaving for Florida tomorrow to go set my husband up in a uh exhibit state hotel. And uh then my daughter and I will be here for the car for the rest of the finishing work on the house. And then we were gonna put a four-cell phone out front and see what happened and see how long we would end up here. And then I found your website and I just put the information in to see what you think.

SPEAKER_00 11:22

Gotcha. Okay, so how about this? Because um I'm glad you finally answered the phone because uh I think I can help you out here. Um I don't like I mean, I I know you gotta do what you gotta do, but I I don't like you know family being separated just so you can sell a house. Um I think I I can sell your house a lot

Full Transparency About Wholesaling

SPEAKER_00 11:55

faster than you could. So here's here's the situation. You're kind of in a for me, I'm I buy all across the country, right? But you're in kind of a weird location, um, and it's not something that I want to keep long term uh because uh it's just a matter of time before it gets blown up by a hurricane.

SPEAKER_02 12:18

I was about to say you can say hurricane, then you can. That's why we're leaving.

SPEAKER_00 12:23

Right.

SPEAKER_02 12:23

I mean, so but so you're supposed to leaving because the insurance rates went up. Like it's that's why we're leaving.

SPEAKER_00 12:32

So I got you. So here's here's what I can do, though. It's called wholesaling. So um, are you familiar with that term?

SPEAKER_02 12:41

Nope, sure, I'm not.

SPEAKER_00 12:43

Okay, so I sell the contract to other investors. So essentially I tell you, hey, you need 90 to 100. I say, okay, let's do 95. I go find other investors where I've got a network just in your neck of the woods in your parish of got 1,862 investors. So instead of you putting a four-cell by owner sign in the front yard and you staying there and you trying to finish work and all that, my suggestion would be like, hey, honestly, um, I don't really need you to like what what did you say you were gonna do? You're gonna put some ceiling tiles up or something like that?

SPEAKER_02 13:31

Uh ceiling tiles, and we have one bedroom that the carpet is here, it's just not laid. Um, that's because we just changed the sub.

SPEAKER_00 13:40

Gotcha. So realistically, like you could just leave it the way it is and just not worry about that because that doesn't move the needle for us one way or another. Um, and then take your take your husband out there, get him set up realistically. Um, as long as I had a way to be able to enter the property with like a lockbox, um, I could probably get your property sold in the next 10 days um to an investor, and you get your money, and say, like in this case, I you say 95, I send it out to them for like a hundred thousand. So I they pay me the five thousand, and you get your 95, they pay off the mortgage, and then you've got your money and you're done. Now, here's the difference. I do this all day, every day. Just majority of the time, I don't tell homeowners. I just tell them, hey, how much do you want for your house? They say 90,000. I say, okay, I'll buy your house for 90,000, and then I wholesale it. I'm just telling you to be transparent because it's your situation. Like realistically, I don't need you to stay there if you want to stay with your husband. Um, outside of the fact if we just can't move the property for whatever reason, we're gonna find out what the reason is because the buyers are going to tell us they're gonna come and they're gonna say it's overpriced or the condition isn't right or whatever. But realistically, um, I'm gonna be able to figure that out pretty quickly and communicate that with you. So I'm just trying to be as uh transparent and offer, hey, this is what we could do for you. And uh we're probably the the best suited to do this for you, um, and and just kind of take care of you as quickly as possible.

SPEAKER_02 15:38

Okay, well, that definitely sounds good to me. Uh, I am gonna have to run it by my husband. I did tell him that I had said it because I got your voicemail when I tried to call you back, I think, at some point last week. So my phone, for whatever reason, just gives me voicemails like a few days later. So I didn't know who

Fast Sale Plan Photos Lockbox Title

SPEAKER_02 15:55

you were at first. I got you. I call you back where we put in tonight. But now I can what is your name again?

SPEAKER_00 16:00

My name is RJ Bates.

SPEAKER_02 16:03

Okay.

SPEAKER_00 16:04

Uh what's your name? Is it hold on on, but let me try. Is it is it CG?

SPEAKER_02 16:11

That's it.

SPEAKER_00 16:13

I'm two for two on this call. Hey, every time I left you a voicemail, I was like, I always want to start off with saying the person's name, and I was like, Well, not sure how to pronounce that. And then I go to your street name, and I'm like, don't know how to pronounce that. All right, we're just gonna go with the city. So that's why I want my voicemail saying about your property there in Golden Meadow. Yeah, so all right, um, Dustin. I've got this under Dustin's name. Is that you? That's your husband.

SPEAKER_02 16:47

No, my husband thing is Christopher.

SPEAKER_00 16:49

Christopher, okay. Um, hmm. This must be bad information on prop stream. I will have to load that up somewhere else. But all right, um, if if you guys, if your husband wants to talk to me, uh, we can also jump on a call together where I can explain the process. Um, but like I said, this could be this could be a pretty smooth process um with the amount of uh buyers that we have in that area. Um, and just the other the thing about this is is the system that I use gives buyers like a buyer score. So I know about their frequency in which they're doing deals there. Um looks like we have quite a few people that are looking for deals there. Um and in your case, you're getting what you need, and it allows us to kind of navigate those conversations um about why this is a deal that they would want to get. And I could pretty much with that appraisal and just taking a look at your your neighborhood there, I think this is something that we could get off your hands pretty quickly. So just let me know if he wants uh to jump on a call. And uh, did you say you guys are leaving tomorrow?

SPEAKER_02 18:09

Yeah, we are actually leaving tomorrow and going to Florida. Um, my husband's actually at work right now at his police stop here for his last day. Uh so when he comes back, I'm gonna talk to him. We're going to Florida to set him up tomorrow. Um, and then we're gonna be staying there for the weekend, and I'll be back here on Monday.

SPEAKER_00 18:28

Gotcha. So if you could get me, like he says, yeah, let's do this. We could get the process started um while you're out of town. Um you could the things that I would need, so this would be the process. You guys would sign a contract. I need that appraisal. I know you said you need to find it, but if you can't find it, I can navigate around that because the mortgage itself kind of proves that the bank already said that the house is worth more. So as investors, we already kind of understand that. Um, and then I have pictures of no, I only have pictures of the exterior. I would need like some pick some pictures of the interior, and then I can immediately start the process, um, and potentially even get it sold before you even come back. So um, and then we could open up title and get it closed as quickly as possible. So that's just kind of the timeline there. If you want to run that by your husband as well. Um, so I know you guys are going out of town this week here, but realistically, sign contract, um, some way to access the property and pictures, um, and we might be able to get it done before you even get back in town.

SPEAKER_02 20:00

So that sounds good because I took pictures of everything as we renovated after the storm. I have pictures of the new kitchen, I have pictures of all this stuff.

SPEAKER_00 20:09

Beautiful. So, yeah, I mean, we could literally just send you a G drive link, you could drop them in there, or you could just email them or text them over to us, and then uh yeah, if they're if y'all have like a lockbox or if you can run by a hardware store, excuse me, and just put it like on the back door or something like that. So if I get a buyer, we verify, hey, who are you? Okay, we see you, you're a good cash buyer. Have them go through and walk through the property if you're okay with that. Um, because that's almost everybody's criteria, is they want to at least do one walk through just to make sure it's not falling down, and

Next Steps And Follow Up

SPEAKER_00 20:50

then normally they're good to move. So um that's that's what we need to do. Um, so yeah, talk to him. Um, can I give you my cell phone number? Actually, I'm just gonna text you from my cell phone number. So uh if you call me back, um, you know, we can get this moving quickly.

SPEAKER_02 21:10

All right, great. That sounds awesome. Thank you so much.

SPEAKER_00 21:13

You're welcome. Uh look forward to hearing back from you, okay?

SPEAKER_02 21:18

All right, you have a great day, and I'm gonna talk to him when he gets home. I might not get back to you on the road tomorrow, but I will get back to you as soon as possible.

SPEAKER_00 21:25

Okay, sounds good. Bye bye.

SPEAKER_02 21:27

All right,