Wholesaling Reality Check | King Closer Reacts

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Transcript

Welcome And Setup

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'm definitely not going to find out that I'm the old head in the wholesaling industry like I did last week. Let's get into

Problem Solving Squatter Deals

SPEAKER_05 0:20

the first video.

SPEAKER_01 0:20

What makes the difference between a good wholesaler and a great wholesaler? As a great wholesaler, you have to be a problem solver. So for instance, right now I'm working on a property in Augusta, Georgia, and there's squatters in there. And this guy has been trying to sell this house for close to a year now. Nobody wants to touch it because there's squatters in there. So when you're running into a property situation like that, the one who's got the problem solving mentality is the one that's going to land the deal, close the deal, and get a big check, which by the way, I intend on getting. So I've been spending the last probably week or so. I hired somebody to help me get the squatters out. We're still working on it on day four. And I just called the police department to find out can I get their cars towed? And I can, and I don't have to pay anything for it. So all of these things, all of these little things are going to make you a problem solver and get your deal sold and get you a check. That's the difference between a good wholesaler and a great wholesaler.

Pricing Effort Into Assignment Fees

SPEAKER_05 1:29

That's what I'm talking about. We finally got somebody in here talking about some real shit. Getting some squatters out, right? Getting their cars towed. That's some savage shit. Called the police. Hey, can we tow their cars? Could you imagine them sitting by the house peeking through? Oh my god, they're towing our car. Man, that's awesome. But I agree with what she's talking about there. I mean, there are circumstances where the deal is not cut and dry. It's not just, hey, I need to sell my house for a discount, and then you go assign it. There's times that we earn that paycheck. Now, what I would say is, if you're a newer wholesaler, you're not gonna go do that for a $5,000 assignment fee. Okay. Every time I talk to a motivated seller and they start asking me, like, can you do this? Can you help me with this situation? My answer is always, yes, I can help you with anything. But for every action that I take, I need to make profit for doing that action. So we don't want to go into this situation and underwrite this type of deal where we're only walking away with a $5,000 assignment fee. We need to make more money because it takes more time, more effort, more energy to actually achieve the end result.

The $34K Deal Breakdown

SPEAKER_02 2:48

All right, I'm gonna break down how I made $34,000 off one hotel deal. Let's get into it. All right, so boom. As y'all can see, this is the property here located in Tandler, Texas. Now, from the outside, it looks good, right? Like the roof looks good, the outside looks good. But on the inside, this house was full of. So we knew we had to get at the price of the seller to an investor. Okay. Now, this clean file from one of my VAs, okay? So a VA is a virtual assistant, so I have people for um cold calling motivated sellers to sell the property, okay? So the clean file from one of my VAs, I got a 104. Um stop the MRC three cents, five C settings of full book, okay. So we put it here. Hard reason for selling for if you have an open heart server that needs a looking itself. This is a motivated seller for all right. So after confirming everything that this property needs from the seller, okay, confess everything that this property is going to need as far as a repair store. This property was worth $180,000. Now we got this under contract for $35,000. Okay, so we set the seller a purchase contract saying that we can buy it for $35,000. What we have in our contract of us being able to assign the same contract to another cash buyer. So we found a cash buyer who will buy this same deal from us for $69,000. Okay, so we got it for $35,000. We found a buyer who will buy it for $69,000. That is how we made $34,000.

Lead Quality And Seller Transparency

SPEAKER_05 4:24

All right, now if y'all want to part all right, really enjoyed that video because I enjoyed the breakdown. Last week on the King Closer Reacts, you know, I was kind of being a little bitch and I was like, man, does anybody ever like actually explain wholesaling? Oh, the first two videos today. I mean, we're we're getting into the nitty-gritty. He showed us like there's the house. This is what it looked like on the inside the or the outside. The inside was super messed up. This is how we generated the lead. Loved the breakdown of the virtual assistant showing like the the motivation, the condition, the actual reason for wanting to sell. Love that, very similar to what we get on the PBL side. It reminded me a lot of when we go buy deal or leads from speed to lead, right? What if I consistently told you guys? Hey, if you're struggling figuring out how to buy your leads, I want to know the location, the physical condition, and the motivation. So on that one, obviously the location was decent. That's in Texas. We've got emergency reasons. Absolutely. I always want to buy leads that are emergency reasons, and then the condition was a full gut. It literally looked exactly the same way it would look at speed of lead. The only part I didn't like about was when he was like, we're gonna buy the house because that's where the lack of transparency comes in. Um, I get it, he's he's making a TikTok just trying to show, like, hey, this is what wholesaling is, and we're not actually buying, but you can convey that a little bit differently, um, especially when you're talking about a seller that that is in that uh much of a motivating circumstance, you know, open heart surgery, needing a new kidney. I would have preferred that he just said, hey, we even told the seller, like, hey, here's how we can help you. We can put 35 grand in your pocket, and then we're gonna go out and we're gonna assign this to an end buyer. But overall, that I really enjoyed that video, the breakdown of how he actually got the lead. And just instead of just saying, This is this amazing strategy called wholesaling, he actually broke it down.

The Zillow Lowball AI Play

SPEAKER_03 6:25

Do not get a second job, it's fing pointless. Let me show you the easiest way to make 20 grand in 24 hours. Roll some dice, go to ChatGPT and type in this prompt. The dice gave us number seven, so Georgia it is. Go to Zillow and type in the state. I'm gonna do make in, I think. As always, get rid of this shit. Set days on Zillow to 90 days. These people are gonna be more motivated to sell. Copy these keywords. You can find these keywords in Wholesaler's Academy. Paste them into here, apply, pick one of these houses. I like this one. Super ugly, and they just did a price cut. Now I'm gonna go to this website called lowballoffer.ai, enter the zestemate, which is right here, press generate offer, and this is what we're gonna offer the realtor. We're gonna be calling a Bertha Crawford, and here is her phone number. Again, this property's been listed for 88 days, so they're more motivated to sell at that point. Call up the realtor and say, hey, Miss Bertha, my name is Olivia Schramer. I am very interested in your property on Radio Drive. We actually have done a couple flips down the road. My offer is $36,758.48. We buy as is and can close in less than 30 days. And also, I'll pay you 3% on our side, so you'll get 6% on the deal. Um, math. Oh, and the buyer covers closing costs. Send over a contract. If you want to copy out this contract, be sure to comment. Contract. Now you go on this sick website called Investor Lift to find a buyer. No gatekeeping over here, so if you go to maxdispo.com, we'll help you sell your deals. You can easily make $10,000, $20,000, $30,000 doing this. Don't get a second job, it's a waste of time. Anyway, be sure to follow me and join Wholesaler's Academy.

SPEAKER_05 7:51

This didn't make sense until the end. And then I was like, oh now I get it. Did Max get himself a girlfriend? Did he get him a girlfriend? Is she gonna be at Element 22? I'm gonna be like Olivia. Your videos, they sound just like Max. I was literally about to say it. Like, this is literally the script that I was talking about. The Richard Taylor, Max Dier script. And then she's like, no gatekeeping over here, just submit your deal with Max dispo, and I'll dispo it for you. Oh, okay. So you word for Max girlfriend? I don't know. We'll find out in the comments. What was the little pointy thing? Little pointy thing was a little distracting. Can we give me a little pointy finger like that? Anyways, um this whole strategy of we go to Zillow, we type in these keywords, we find properties that have been listed

Why Realtors Reject Random Contracts

SPEAKER_05 8:49

on the market. Now, we're just gonna assume that this is Texas. And then you're gonna get this contract that you download. I I would really not not to bash not to bash people I know, but if you submit that contract to a realtor in Texas or anywhere, they're gonna be like, yeah, we're gonna need this contract on a Trek. The state promulgated contract. That's what our broker's gonna demand. Because we're listed on the MLS. It's one thing to use these contracts on direct to seller. That was the only thing that really stood out to me. It was like, are you doing this? Or are you just saying this on repeat? Because when you deal with realtors, they make you use the same promulgated contracts. Like it's going to be an issue. So that was a little bit like red flag, but hey, it ain't for me. It's for the people that don't know what the fuck they're talking about. So keep making the videos, baby,

AI Cold Calling Claims And Concerns

SPEAKER_05 9:54

it's working.

SPEAKER_00 9:54

So what I do is I just have my AI Ryan call all the cold and the worm lead. She can talk to all the unmotivated seller, make the offer, because if you don't make the offer, the answer is already no. So every shot you don't take, you miss, right? But I don't want to waste my time. So I let my AI Ryan go ahead and do it. She locked us up three property on the contract already. The one that I just got off the phone with the seller, you probably uh didn't hear it, but TikTok did. We're gonna make about $15 or $20,000 on that deal. Gotta buy already, ready to close. I call back, I renegotiate the deal. Okay? So I just focus on calling the hot lead. You know, and you're not gonna have many hot leads per day, my friend. One or two you might have one or two appointments that's a hot lead per day. It takes 30 minutes of your time, that's one hour a day that you have to work. And the rest of the time, I'll have AI ads call all the cold, all the warm leads. They don't accept it. She'll put her put them on her follow-up and then she will nurture them until they no longer own the property.

Hot Leads Still Need Closers

SPEAKER_05 10:57

I honestly love Kong. Like, as a as a person, I love him. He is adorable, he's one of the sweetest human beings. I just really disagree with a lot of things that he talks about on his YouTube channel and what he teaches. Not the fact that he's leveraging AI. There's nothing wrong with that whatsoever. I got so many questions, and I know I've said this, but let me have my old head moment again. We're running it back, baby. At what point in time does cold become warm and warm become hot? Like, is it 82 degrees becomes warm? Is it 90 degrees, becomes hot? And how are you determining your temperature of your leads? I hate that term because now, as we're growing a team, say you have 20 acquisition reps, okay? And you tell them AI Ryan will go close your warm and your cold leads for you. Now, I go put my little kid over there and say, all right, you're my acquisitions guy, and I gave you AI Ryan. What the fuck's that guy gonna do? You think he's gonna call those leads? The hot leads? Hell no. Everything's warm or cold. AI will go close it. It's creating an atmosphere of closers are no longer closing. Our job is to get on the phone and determine the motivation of these sellers as the closer. And when they are motivated, we close. Now he's talking about you won't get that many hot leads in a day. Bullshit. Kong, what are you doing? Buddy, I don't know what you're doing for lead generation, where you're getting your leads, but we can just sit down for eight hours and I will close deal after deal after deal. And it's happening. And I don't have any AI, I don't have any lead managers, no setters, no nothing. I literally sit there and say, lead Zolo will give me a lead for $5 to $40 to $50. I got speed lead that'll give me leads for $19. I got property leads that'll do $30 or $75. I got red panda for $50. I got all of them. Swipe, swipe, swipe. They're all motivated, right? And we filter out the ones that aren't super quick. I'm not, I'm not allowing anything else to touch those butt closers. That's their job. And we're going through those all day, every day, and we're closing. So I'm not relying on uh a system or this dot process of trying to determine what is a cold, warm, or hot lead. I just disagree with that. I've always disagreed with that. Um, and I've argued with other operators about it for years, and I've yet to come across anybody that has truly explained how that has benefited their business in the long run, besides the fact that it just alleviated people for being lazy fucks inside of their business. That's all it does.

Where AI Helps And Where It Fails

SPEAKER_04 14:10

I think AI is a disruptor and it's gonna continue to disrupt. We are, I don't think AI is going to take your business. I think people that don't some someone that learns AI is gonna take your business. So you you've gotta you've got to engage with AI. It's not going away. Um, you might think you're Campbell soup and you're just invincible, but at the end of the day, this is not the case. This is AI is here for for I used to think that uh a seller isn't going to talk. So let's say let's say this in in Phoenix, we used to pay $350, $400 for a lead. Okay. I think AI is a disruptor.

SPEAKER_05 14:54

AI is a disruptor. Agreed, like three years ago. Yep. AI is important. We use it every single day in almost everything that we ever do. I wish I could use AI right now to figure out something intelligent to say back to that dumbass video. AI, I wish I wish we just had it already where it's like in our little contacts where I could just like think and be like, AI, tell me something intelligent to say so I'm not a rude asshole. Because it just ended right there. I mean, I don't know what he was trying to say. I think what he was gonna say is, I didn't think people would speak to AI callers, and now they are. Well, yeah, it's gonna continue to happen. This is like saying, you know, 20, 30 years ago, I didn't think people in America would speak to like people with Filipino accents or Egyptian accents or Venezuelan accents, and then they did. Yeah, it changed the business, but it's is it going to drastically uh change the the fact that we still have to be able to speak to sellers, solve problems, comp and underwrite, overcome title issues. Like the first video, the first two videos to me are the ones that really stood out today. Where the lady's talking about the squatter, overcoming that issue. AI can help you with that to a certain degree. It could give you ideas, it can kind of give you answers of like, hey, how can I get a squatter removed in Augusta, Georgia? That's how I would have leveraged it. Um, the second one, the seller that's talking about she needs open art surgery and a kidney replacement and emergency situation, a property needs a full gut. I think in that scenario, AI is probably not the right solution. RJ is probably the right solution to sit there and talk to that seller and show empathy and be able to listen to what she needs to be able to move on with her life. I think that is the area that AI is going to lack in. But knowledge and helping us be better problem solvers, absolutely. And we are leveraging it that way every single day inside of our wholesale business

Final Takeaways And Comments

SPEAKER_05 17:13

already. All right, guys, that's our episode of The King Closer Reacts. Let me know, did you agree or did you disagree with some of my takes? Let me know in the comments. Regardless, show me some love, like today's video. We'll see you guys tomorrow.