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Transcript

New Wholesaling Laws Spreading

SPEAKER_17 0:04

What's going on, everybody? Welcome to the King Closers Formula. I'm the King Closer RJ Bateson III with my buddy Jerry Norton. We were almost late today. We barely stuck in at 222 because Jerry and I were over here talking about how stupid Pennsylvania and Delaware and South Carolina are for their regulations. Um man, Jerry just broke the news to me. I didn't know that this was happening, but Delaware is coming out with a regulation. Is that right?

SPEAKER_19 0:32

Yeah, go the disclosure goes into effect August 30th, and then the licensing they're giving you until January, I think, of 27 to get your license.

SPEAKER_17 0:43

So Delaware sitting over there and being the little turdbox of a state that it is, sat there and said, of all states that we should copy, because we can't come up with our own ideas. Let's copy Pennsylvania. Because Pennsylvania has worked out so well. Yeah, because it's clearly working, you know. I I don't know. Here's what I want to know from you guys. I want to drop this at the beginning. Would you guys receive value if Jerry and I did a live, say maybe next Tuesday or the Tuesday after that? We we got to do some prep work for it. But where we do a breakdown, we go state by state, give our feedback on hey, this is what we think about doing deals here, acquisitions, dispositions, regulations, and break down the entire country. Would you guys get value out of us doing that? If so, leave us a comment, let us know. We're we're we're probably going to do it. Uh, but there's a lot of work that goes into that. Another part of it is that it's ever changing. I mean, we're Jerry and I have done videos about every single state out there, and and here we are. Delaware just hit us with a new regulation, Missouri.

SPEAKER_19 2:00

14 days of just a week. I don't know if you've heard. I'm following this one because I know the one of the sponsors of the bill, uh, California is passing a licensing law, and it's early stages right now, but it went through committee with flying colors. And this is led up by NAR, obviously, because whenever it's licensing, that's the real estate commission in NAR that wants that. And uh, I said, What's what do you think? What's your likelihood that this will pass? He's like, Oh, it'll pass for sure. It'll pass. Everyone's behind it. So California is going to be in there, and theirs is not publicly marketing the contract, it's the act of wholesaling is brokering and needs a license. So, California, get ready.

SPEAKER_17 2:43

You know, there's a common theme here with these regulations that come down. Um, it's honestly it to me, Missouri was shocking. Missouri coming out with the 14-day waiting period, uh, where basically we we have to sign a disclosure to wait two weeks before we can sign a contract. Can you imagine?

SPEAKER_19 3:04

Who came up with that? Can you imagine? Imagine the sale process, RJ. You know, we're calling property leads today. I'm curious if there's a Missouri on here. Hey, uh, so I'm interested in buying your property. By the way, I have to email you right now a disclosure that you and I both need to sign, and then let's talk in two weeks about me buying your house. Oh, your foreclosures in 10 days? That sucks. You know what I mean? Like, what are we doing?

SPEAKER_17 3:28

I I have yet to see. Well, I shouldn't say it yet. The majority of the states do not actually care about the homeowners. I feel like Ohio nailed it. Ohio is a regulation that I can stand behind. They want a disclosure saying that you're a wholesaler. I love that. I can stand behind that. Most states, no, I cannot stand.

SPEAKER_19 3:53

And by the way, Ohio's working on a brand new second regulation right now that that they want to come out with. So here's here's the thing, everybody, is just because your state, let's say you're you're in a specific state, hasn't done regulation, or even if they've already done regulation, that doesn't mean they might not do more regulation tomorrow, right? Like I think it's safe to say, RJ, that every single state is going to eventually have some form or another of regulation. So, guys, this is something we all need to pay attention to. And really, the biggest thing here, RJ, the most of it, there's there's probably five states that have licensing requirement for you know, like blanket wholesaling, like Virginia. There's about five or six states that have publicly marketing the contract is licensing, but there's probably 18 or so states that it's just a disclosure thing. So to me, the fact that people still haven't learned how to build in what we do into their sale process, like it's part of the conversation, right? Blows my mind that that's not a normal thing now.

SPEAKER_17 4:56

Agreed. I I agree. I'm I'm blown away that I'm still seeing videos because I always do King Close of Reacts every Saturday, and so I watch a bunch of random wholesaling and bite videos from people, mainly people I don't know, where it's regular. There's one the other day who's like, hey, you're the middleman, that's what wholesaling is, but just never tell anyone you're the middleman. But this is a promo video for his education program.

SPEAKER_19 5:26

This ain't the guy that does a million a month, is it?

SPEAKER_18 5:28

That one was, yes. Oh my gosh. That man needs to go to prison.

SPEAKER_19 5:35

Yeah. How is there even one single person that would follow that person's advice? I don't.

SPEAKER_17 5:44

I don't think anybody does. I don't I don't believe a word that he says. So yeah. All

Live Dialing Setup With Metro Leads

SPEAKER_17 5:49

right. So today we're calling property leads, specifically the $75 metro leads. Okay, so these are nationwide in the major metro cities. Uh, Jerry and I did this uh a couple of weeks ago. Uh, we had fantastic results. So we wanted to run it back because this is new for property leads. And so we there were some questions. Hey, was it was it just that first batch? Did you did you get lucky with a couple of calls? So we're gonna run it back today and uh see what we could do. So, Jerry, kick us off, man. What are you gonna get started with? Number one. Oh, you're just gonna go straight to number one, huh?

SPEAKER_19 6:31

Yeah, because it's Lapier, Michigan, and I lived about I lived the next town over for a long time from Lapier, Michigan.

SPEAKER_17 6:38

Well, it's also a foreclosure. So funny enough, you brought up foreclosure in regards to the Missouri regulation. So let's let's see. I'm always seeing this with foreclosures, you know. By the way, I mean the forecast.

SPEAKER_19 6:54

Before I call this one, uh real quick, I don't know if you noticed with uh actually no, so so uh because you just heard about it, but Delaware, they're the first state RJ to include vacant land. If it's if it's a one to four unit um, if it's zoned one to four unit residential for the for the lot, then it needs all the same things. Like, how is that a distressed seller, a a vacant lot owner? I I don't who are we protecting there? I mean, how's grandma getting thrown out on the street that we need to worry about? I I don't know, it's just crazy. Never seen that. Okay.

SPEAKER_17 7:37

Let's call uh what was it, Ken? A uh what kind of things does a farmer talk about when they're milking cows?

SPEAKER_19 7:47

What? Utter nonsense. What do you call a cow that jumps over a barbed wire fence? What? Utter destruction.

SPEAKER_14 7:59

How did you automatically have another cheesy utter joke to get it?

SPEAKER_19 8:05

Guys, that was not planned. That was not staged.

SPEAKER_14 8:08

That was not. I just googled it.

SPEAKER_17 8:18

My mom did not see the reel.

SPEAKER_19 8:21

Oh, good. I've been looking over my shoulder. Yeah. I've been worried actually. You said you better not make that a reel.

SPEAKER_15 8:33

It was the first thing I did. Yeah, it was.

SPEAKER_19 8:41

If you guys missed last week, I called our indirectly, I called RJ's mom a cow.

SPEAKER_14 8:48

You sure did.

SPEAKER_07 8:52

Your call has been forwarded to an automated voice messaging system.

SPEAKER_19 8:57

All right. Tell me, uh, do we have any uh entired landlords, RJ? Sure we do. Oh, there's one and 28 non-performing tenant, 28. Yeah. Let's go. In Florida. I gotta tell you the wildest story about one of our leads. I don't remember which one it was. It was the Florida one with the lots and the mobile home park in Sanibel. Yeah. The one you stole from me. Yeah. Oh, is that the one I stole from you? Yeah.

SPEAKER_17 9:39

Yeah, we're supposed to close on that next week. I was really hoping that you were gonna tell me it backfired. I swear if you tell me you're making a hundred grand on it.

SPEAKER_19 9:52

That is what I'm gonna make on it.

SPEAKER_17 9:54

I'm coming through the screen.

SPEAKER_23 9:58

I think hello.

unknown 10:00

Thanks.

SPEAKER_19 10:01

Please stay on the line. Oh shoot. I totally screwed that. I hate those Google Voice things or whatever, those AI things. I totally screwed that one up. For $50, name a city Jerry hasn't lived in.

unknown 10:24

Sorry, this person's not.

SPEAKER_19 10:26

All right, let's try this guy again. I gotta do it correctly this time. Jerry Norton calling about your house for sale on Weeping Willow Court.

SPEAKER_27 10:48

Thanks, Jerry Norton. Please stay on the line.

Voicemail Chaos And Listed Seller Lesson

SPEAKER_19 10:55

Yes, hello. How are you, John? Good, good. Tony about that property you've got on Weeping Willow Court. You still looking to sell that?

unknown 11:05

Yes.

SPEAKER_19 11:06

Awesome. Let's take a look. What uh what are you hoping to get for it?

SPEAKER_22 11:13

Oh we got 20 minutes.

SPEAKER_19 11:16

Oh, it's listed right now.

SPEAKER_22 11:18

Yes, it is.

SPEAKER_19 11:20

Okay. Well, how's that supposed to work? Shouldn't I be talking to your agent?

SPEAKER_22 11:25

Um, I don't know. I mean, the only thing is I saw the thing and I didn't think about what listed, unlisted. Does it make a difference?

SPEAKER_19 11:33

Well, yeah, because you probably signed a listing agreement with your agent, so you can't sell it on your own.

SPEAKER_26 11:41

Um did we sign it real estate?

SPEAKER_22 11:51

Yes, we did. So we're gonna have to call him.

SPEAKER_19 11:54

Yeah, yeah. Richard Jackson's who you have it listed with. So you you know Richard Jackson, is that the guy?

SPEAKER_22 12:00

Richard Jackson, yeah. Yeah, yeah.

SPEAKER_19 12:03

So no, no, I because you filled out a form on our website, so yeah. So typically that would mean you're trying to sell it on your own. You have an agent involved, you have to work through a buyer has to work through your agent.

SPEAKER_22 12:17

That's fine. I didn't realize that. Just throw it that the way, you know, if somebody's gonna make a cash offer, they're gonna make a cash offer. It's not gonna be you know, negotiating back and forth, and means so okay. You want to call him, give him a call.

SPEAKER_19 12:31

Okay.

SPEAKER_22 12:33

All right, yep.

SPEAKER_19 12:34

Sounds good. Thank you. Okay, bye.

SPEAKER_22 12:38

Sky's standing.

SPEAKER_19 12:40

Yeah, he asked his wife, do we have the do we have a listing agreement? She goes, Of course we have a listing agreement. Well, how would we not have a listing agreement with a real estate agent? Like she's like yelling at him. I don't know if you can hear her. Um, I just want to see how long he's been listed for. Okay, so he lists he listed it for 225 January 6th, then he dropped it to 222 April 20th, then 210 May 13th. So, I mean, I don't even got to look up anything else to know that he's overpriced because it's sitting, it's just sitting and he hasn't dropped the price since May? Yeah. Oh buddy. So he's at 210 since May, early May. Yeah. Jeez. How is that guy a real estate investor and not know how real estate agents work? Who knows?

SPEAKER_17 13:40

Crazy. Okay. All right. Let's uh let's fire this up. I'm gonna go Alabama.

SPEAKER_19 14:23

You had that happen to you last week a bunch of times.

SPEAKER_17 14:27

Thank you for reminding me.

SPEAKER_19 14:31

Just thought I'd point that out, that's all. Yeah, that's that's all. Is there a category on here called voicemail voicemail full?

SPEAKER_16 14:50

Somebody requested Texas, so I'll do Texas.

SPEAKER_04 14:56

Hi, if you record your name and reason for calling, I'll see if this person is available.

SPEAKER_17 15:02

RJ Bates gone by your property on a hill shore.

SPEAKER_04 15:11

RJ Bates, please stay on the line.

SPEAKER_23 15:16

Well, that was fun.

SPEAKER_19 15:18

That just immediately hung up on me. Well, you know, RJ, there's 30 million people in Texas, I heard.

SPEAKER_17 15:26

You you did hear that. There's uh there's a lot of knowledge shared on uh on this YouTube channel. RJ, we need to come up with a name for the for this show. Um RJ and Jerry call sellers. We'll ro throw that in the name.

SPEAKER_23 15:48

I mean like cool name, not a cool name, I mean the real wholesale hotline.

SPEAKER_19 16:06

The actually wholesaling hotline.

SPEAKER_25 16:22

Please leave your message for Lawrence Cole.

SPEAKER_17 16:28

Hey Lawrence, this is RJ Bates calling about your property there on Westdale. Looked like you had filled out a form on my website about needing to sell that property. If you could give me a call back at 817-915-6860. Thank you.

SPEAKER_19 16:44

So the guys over there, RJ, the guys over there at Property Leaps must know how much you love Pennsylvania because there's like five Pennsylvanias on here. I I see that.

SPEAKER_17 16:56

It might be because that state is becoming more and more motivated by the day.

SPEAKER_04 17:01

Sorry, the mailbox is old.

SPEAKER_19 17:06

Yeah, I wonder if any of these are foreclosure. I'm gonna look.

SPEAKER_17 17:10

You said Pennsylvania is the highest foreclosure state. Not it, it's increased. It has one of the highest increases since they came out with the regulations. Wow. What do you know?

SPEAKER_19 17:24

Yeah, it's shocking. Get rid of wholesalers and watch what happens.

SPEAKER_17 17:29

I'm I'm curious if anybody that created the regulation cares and is tracking that.

SPEAKER_18 17:37

I don't think they care.

SPEAKER_26 17:54

Sorry, the mailbox is full.

SPEAKER_17 17:57

I am I getting punked on is every seller not have a a voicemail available? I think this is like three weeks in a row that every single seller that I've called has a full mailbox.

SPEAKER_19 18:14

Yeah, get rid of the rest of them while you're at it.

SPEAKER_17 18:25

Is this a sign that voice mouse are I was curious how I was curious how big Delaware is.

SPEAKER_19 18:31

Their entire state population is under a million.

SPEAKER_00 18:59

James is not available. At the tone, please record your message. When you've finished recording, you may hang up or press one for more options. To leave a callback number, press five.

SPEAKER_17 19:14

Hey James, this is RJ Bates calling about your property there on Garden Way. Looked like you had filled out a form on my website about needing to sell that property. If you could give me a call back at 817-915-6860. Thank you.

SPEAKER_19 19:29

RJ, try that, try 19. Uh, it's South Carolina, but did you see the did you see the condition? No, is it bad? Or the reason. The reason for selling. What is it? Structural fire water damage. Yeah. You like the big rehabs. There you go. For sure contract. Is that I wonder if that means it's all three of those? Let's hope not.

SPEAKER_25 20:17

Please leave your message for eight zero three seven nine two.

SPEAKER_17 20:26

Hey Jimmy, this is RJ Bates calling about your property there on Charlotte Street. Looks like you had filled out a form on my website about needing to sell that property. If you could give me a call back at 817-915-6860. Thank you. All right, Jerry, we're getting to the point where I'm gonna tell you to start dialing at the same time as me. Clearly, I uh I put my phone on uh the spam list this morning.

SPEAKER_19 21:03

Maybe it was a fluke what we did last time with property leads.

SPEAKER_00 21:07

Please leave your message for your call has been forwarded to voicemail.

SPEAKER_17 21:16

Your call has been how do I call a number three times and two of the times it had a different type of voicemail answering? This guy's name is Jerry. He's for sure gonna be come on now. Jerry Burns, let's go.

Free Mobile Home Offer Reality Check

SPEAKER_17 21:54

Hi, it's Jerry there.

SPEAKER_09 21:56

Yeah, that's me.

SPEAKER_17 21:57

Hey Jerry, this is RJ Bates calling about your problem. There on uh Hannah Street. Yeah. Looked like you had uh filled out a form on my website saying that you were interested in selling that broadbury. Is that correct?

SPEAKER_09 22:09

Well, I want to sell the trailer house.

SPEAKER_17 22:12

Okay. Uh does it come with land or is it just uh the trailer?

SPEAKER_09 22:16

No, I just want to I'm what I'm doing is moving the single wide out and the double wide in.

SPEAKER_17 22:23

Okay. Um how much do you want for the single wide?

SPEAKER_09 22:28

Um, if you want it, come on go come on and get it.

SPEAKER_17 22:31

I get it for free?

SPEAKER_09 22:33

I need to get it out of here, yeah.

SPEAKER_17 22:36

Is it in is it in bad condition?

SPEAKER_09 22:39

It's not in the best condition in the world. We've been living in it, but the some floors need a little bit of help. And we we got a metal roof over it right now. But if you was to have that not have used that metal roof, you'd have to get it fixed.

SPEAKER_17 22:55

What year was it built?

SPEAKER_09 22:57

I've been trying to find out uh I can't find that tag on it, but I've got uh 12171 on one of the lids to the commode. And on the other lid of the it's a February 3rd of 72. So 71 or 72, somewhere's in there, I imagine.

SPEAKER_17 23:23

All right, let me let me place a quick call and then um I've got a buddy of mine, he's got some trailer parts, and if he's interested, I'll give you a call back. I I don't have any any place to put this without the land, but if he's interested, I I can connect you guys and see if he can come out there. So let me give him a call real quick.

SPEAKER_09 23:42

Yeah, I'd be good. Okay.

SPEAKER_17 23:43

All right, thank you. RJ, get something for free. Yeah, what's your what's your transport cost? I don't know. It's not gonna be my transport.

SPEAKER_23 23:55

It's gonna be the guy that owns trailer parts.

SPEAKER_19 24:01

That's that's the problem, is those cost like five to eight grand to move, don't they? I have no idea. I've never moved one. Yeah, I've moved one there.

SPEAKER_18 24:11

I think they're five to eight grand.

SPEAKER_23 24:20

I'll text them. All right, go ahead.

SPEAKER_18 24:23

Okay, I'm going with this one.

Mansfield Seller Wants Ninety Grand

SPEAKER_19 25:05

Yes, hi, is this uh Marion? Hi, Marion, my name's Jerry Norton. I'm calling you about your property on Fifth Avenue. Are you still looking to sell that property?

SPEAKER_08 25:19

Yeah, happy to find out about it.

SPEAKER_19 25:21

Well, I think you filled out a form on our website recently. The Elizabeth listing is that we said the Elizabeth Listing. No, no, my my name's Jerry, and on my website you said you were interested in selling that property, so I'm just calling you to see if I can help you out there.

SPEAKER_08 25:50

Well, I have someone else I talked to this morning, and they're supposed to come check out my property and stuff.

SPEAKER_10 25:57

So I'll have to wait until you call me back and see what they say.

SPEAKER_19 26:02

Uh well, you could do that. I don't think that's what you should do though. Because what if they don't what if they don't show up? Or what if I pay what if I pay more than they're willing to pay? Like you should you should Yeah, like you should still talk to me about it. You know what I mean? Well, what is there about Well, I certainly can do that, but but what why don't we why don't we start from the top? Typically, if you're looking to sell it, let me find out some information, see if what you're hoping to do fits, and then you've got one more person to consider as a buyer. Nope. I'm tired too. What do you want for it? Okay, you're gonna try to get 90,000. Okay. And what's got you thinking 90? Why is that important to you?

SPEAKER_10 27:15

But to get paid to live.

SPEAKER_19 27:18

Gotcha. Yeah, so you pay off the 31, and then you're hoping that the remaining difference is enough to buy your next property?

SPEAKER_10 27:27

Well, something, yeah.

SPEAKER_04 27:31

Something smaller, but this is too big for me.

SPEAKER_19 27:34

Yeah. That'll leave you if you if you got the 90, that would leave you with what about 60?

SPEAKER_08 27:41

Somewhere around there.

SPEAKER_19 27:43

Is that what you need to get the the next house? Okay.

SPEAKER_04 27:52

I've seen things on the on the internet, whatever you call that, um, where some of the trailers are like 45,000 or more.

SPEAKER_19 28:03

Okay, well, yeah, I mean they range from really cheap to really expensive, depending on what yeah. Are you hoping to stay close by?

SPEAKER_10 28:16

Oh yeah, stay in this area.

SPEAKER_19 28:19

Oddly enough, my friend has a free trailer that he's looking to relocate. Yeah, where's that at, RJ? Wolf City, Texas. Oh, it's in Texas, though. That's that might be a that might be a hall. Well, no, but I mean we we could say where are you, Ohio? You're in Mansfield, Ohio. Yeah. But um, you know, it's not hard to find. There, there's a lot of them out there. Okay, so let's take a look.

SPEAKER_01 28:54

What's that?

SPEAKER_10 28:57

Once I can get my car sold, then I can find a place to live.

SPEAKER_08 29:01

And then I'll have the money to buy.

SPEAKER_19 29:03

Yeah. Okay, well, that helps me understand a little bit what you're hoping to do. So let me take a look here at your property. So this is a three-bedroom, two bath, sixteen hundred square feet.

SPEAKER_10 29:19

Uh which you can move into another four bedrooms.

SPEAKER_19 29:30

Four bedrooms, two baths, okay, four bedrooms, two bathrooms. And how long have you lived here?

SPEAKER_08 29:48

Two thousand five.

SPEAKER_19 29:50

Okay. So just bear with me here. Um you know, I might be able to make the 90 work. What did what did the other person tell you that's coming to look at it? What what what's their story?

SPEAKER_04 30:30

Well, all he wants to do was mortgage really nothing, and he said he would put it on the market and sell it that way.

SPEAKER_08 30:41

So I don't know. I mean, he's check he's gonna check out the property and make sure that I'm not lying, I guess, to him. I don't know.

SPEAKER_19 30:49

And you want to wait and work with this guy. Okay. What if I could get you the 90?

SPEAKER_12 31:07

Wonderful.

SPEAKER_19 31:08

Okay. Well, here's what I'm thinking. I don't know if I can make the 90 work. I am gonna have to take a look at it kind of like the other guy, but I wouldn't be trying to pay off your 30 and that's it. I would be trying to get you the full 90. And um, I I've looking at a couple of comps in your neighborhood that are pretty similar in size and and features, beds and bats. And I think there's a move there where I could buy it from you for 90 and and still make money. Because you know, I'm an investor, so if I come in with the cast, yeah, I'm looking at one that's that's real close by that's 150.

unknown 31:52

Yeah.

SPEAKER_19 31:53

Uh, and it's it's needs work still, right? So I figured, yeah, I kind of figured that. But here's what I would do. We would have to have an agreement that I would pay you the 90. You would need to give me a small window of time, let's call it seven to ten days. That would allow me to get over there with my guys, take a look at it, make sure I got my head around the cost of the rehab. And if I can make the 90 work, then we move forward, we schedule a closing, and I pay you the 90. You pay off the 30, you walk with 60. Um, I'll also if I can't make the 90 work, because I I buy I buy a lot of real estate myself, but if I can't make the 90 work, the second thing I'll do at the same time, so this will be happening simultaneously, is I'll reach out to my network of buyers. I work with a lot of other investors, and sometimes they can pay more than me because they might spend less, they might keep it as a rental, you know, they might do other things. So if they're willing to pay the 90 or more, then I'll also move forward with you. They would pay me the difference, so it would come out of it, it wouldn't affect you at all. You would still get the 90. Does that make sense? Right, right. So one way or another, I would try to get you the 90. Now, if I can't do it and my network of buyers can't do it, then I'll just within that window of due diligence, I'll come back and tell you, hey, look, Marion, the the 90 just doesn't work, and we can we can relook at it or we can part ways or whatever you want. But that would be the that would be the process to move forward from here.

unknown 33:35

Yeah.

SPEAKER_19 33:39

I mean you can do what you want, but I I if if I were you, I wouldn't have a lot of confidence in someone saying what he's saying.

SPEAKER_26 33:46

Yeah, I have.

SPEAKER_19 33:48

Because what if okay, yeah, because what if you go under contract with that guy, you don't feel good about it from the get-go. Now you've got a contract with somebody and you have problems and they string you along or whatever. I mean, I'm not saying that would happen, but I would if you if you were my mom, I would not advise you to go with that guy. Let's put it that way. Yeah, so here's so here's what I'll do. I've got all your information here. This is my cell phone I called you on, so you can reach out to me anytime. But if if we can if we can agree on the 90, then I'll put together an agreement. I'll email it to you. Do you have email?

unknown 34:26

Yeah.

SPEAKER_19 34:28

Okay, you don't have email.

unknown 34:30

Yeah.

SPEAKER_19 34:30

Then I'll need to. Oh, this is a house phone we're talking on. Does it have a long cord and like you have to is it a is uh oh, you got one of the fancy um wireless ones. I'm just messing with you. That's that's great. So so what we'll need to do then is I'll just need to send someone out to meet with you, and we'd probably try to do it all at one go. Like look at it, get our head around it, we'll bring the agreement with us, you'll get a copy, I'll get a copy. We'll just typically I don't do it that way because most people have email and we can do it pretty quick, you know, without having to meet.

SPEAKER_04 35:21

Yeah, uh, I get the money so I can market.

SPEAKER_19 35:28

Yeah, they call that post-occupancy. So once we close, I give you some time to stay in the home. Uh I was gonna talk to you about that. Yeah, yeah. Typically, if we do that, we'll just have to hold some money back because I need to make sure you're motivated to to move out in the 30 days. And if you got all your money, then what what's the hurry, you know? Um but maybe we can work something out too, because I'm I'm super connected that way too. So we might be able to find you the next place if I know what you're looking for and what your budget is and so on, then myself, yeah. I mean, do that too, but I'm just saying tell me what you're looking for, and and I can look as well.

SPEAKER_10 36:17

Why not? I would like to have a parking correct.

SPEAKER_19 36:21

Are you willing to go in a park or do you want it on a like a standalone, like on a on a lot? Oh, you want to go in a park? Okay. Well, I don't want to be on the wilderness. And what what areas are you willing to stay in or to go to? So you want to stay in Mansfield? Okay, so Mansfield. Oh, to me, this isn't very long at all, but we're almost done.

unknown 36:55

Okay.

SPEAKER_19 36:56

So I'm gonna I'm gonna need to schedule to meet with you there at the property and and then we can um see if we can put something together. Does that sound okay? So I'm gonna yeah. After when? Sure.

unknown 37:13

Okay.

SPEAKER_19 37:14

Yeah, but let me reach out to my team. I need to get someone that that can uh meet you over there and do a walkthrough, and then we'll go from there.

SPEAKER_04 37:24

Okay.

SPEAKER_19 37:25

Does that sound like a plan? Okay. Jerry Norton. Jerry Yep. And this is my phone number I called you on. Do you have it? Do you have it written down?

SPEAKER_04 37:39

No.

SPEAKER_19 37:40

It's two could you so write this down, 248?

SPEAKER_28 37:44

2484.

SPEAKER_10 37:55

7794. Yep. Okay. So what when would you like to come to?

SPEAKER_19 38:01

Well, I gotta I gotta meet with my team and see when we can do it, but we'll try to do it real soon after three o'clock. Yeah, my goal would be tomorrow. Does that sound like a plan? In fact, let's let's tentatively plan for tomorrow, three o'clock, and I'll but I'll confirm with you. Okay, and we'll see if we can help you out here at the at the 90. Okay. Thank you. Talk to you soon. Okay, bye-bye.

Solving No Email With Boots On Ground

SPEAKER_19 38:36

Uh, how do you handle that when they don't have email?

SPEAKER_17 38:40

You gotta send somebody or walk them through signing up for an email.

SPEAKER_19 38:47

Oh, can you imagine doing that with her? Right. Uh RJ, who do you have in uh Mansfield, Ohio at in TU?

SPEAKER_17 38:59

Well, we got this fancy little thing. It's a map of where everybody is. So let me look real quick. Mansfield, Ohio. Now you know how I am, RJ. I don't want to fill out a form. I know. Uh Gillian Gene, Joe Spain, Jeff Brogan. They're all pretty far because they're either coming from Akron, Cleveland, Toledo, Columbus. How far is that from Mansfield? It's a it's a bit. Columbus is probably gonna be the closest, to be honest with you.

SPEAKER_15 39:33

Is it?

SPEAKER_17 39:36

I mean, it's kind of it's literally right in the middle of Cleveland, Toledo, and Columbus.

SPEAKER_19 39:43

I mean, there's a comp two streets over. That's uh that's a 3-1, 1,300 square feet. She's a three or maybe a four-two, sixteen hundred square feet. This thing is hammered for 150. Like it needs a full rehab at 150. So I don't know, maybe 90s, maybe 90 is okay. All right, I got you. Okay.

SPEAKER_23 40:09

Let's let's see what we can make happen here.

SPEAKER_11 40:17

Oh my, I hope I'm not in trouble.

SPEAKER_17 40:19

Oh, you're you're in trouble because you're you're live on YouTube, so be careful what you say.

unknown 40:25

Okay.

SPEAKER_17 40:26

Um, Jerry just got uh a lead in Mansfield, Ohio. Do you have anybody remotely close to that area?

SPEAKER_11 40:36

Not a buyer, can probably be there tomorrow.

SPEAKER_17 40:38

Perfect. Three o'clock. The Jerry needs the woman does not have email, so we need uh the buyer to go to the property after three o'clock to get a signed contract and then also see if they want to buy it.

SPEAKER_11 40:56

Okay, buyer to buy the property tomorrow after three, get signed deal. Okay. Yeah, um, yeah, just shoot me over the information and all that, and I'll get it over to him.

SPEAKER_17 41:10

All right, I'm gonna send this. I'm gonna send your number over to Jerry. Wait, you and Jerry have each other's numbers, don't you?

SPEAKER_11 41:18

Uh I don't know if I have his number.

SPEAKER_17 41:21

Just shoot, shoot his number or I'll connect y'all right now because we're on the live together. So okay.

SPEAKER_11 41:27

Well, awesome. Congrats, Jerry. Good job.

SPEAKER_17 41:31

Well, we'll see. Yeah, we'll see. We got to get this thing signed first.

SPEAKER_26 41:35

All right, sound good.

SPEAKER_17 41:36

All right, bye. So that was uh Tyler Osbourne.

SPEAKER_19 41:42

Oh, yeah, I think I've got I've got Tyler's number. I didn't know that was Tyler Osborne. Yeah, he's I think I do. Yeah, he's he's the guy that can instantly miss in Ohio.

SPEAKER_17 41:56

Yeah, I've got his number. I like Tyler. Yeah, so he's he said his buyer can be there tomorrow. I love how he speaks so confidently about another man's schedule. Like, buyer be there tomorrow.

SPEAKER_19 42:13

Yeah, yeah, like you know. Well, I mean, buyers jump up and down for deals.

SPEAKER_17 42:21

Exactly. All right, Tori, here you go, buddy. I'm gonna lock one up for you.

SPEAKER_00 42:31

Sorry, the mailbox is full.

SPEAKER_17 42:34

It's it's it's a joke. The mailbox is full. It's a joke. It doesn't happen to me once yet, RJ. Not one time. Every lead that I pick, you know why? It's because I pick the highly motivated sellers and you just give full retail. That's what it is. Hey, did you see Steve Trangs coming out of retirement? Come on. He says he's gonna get back into wholesaling. Oh, for crying out loud. Because his hey, is Jordan there?

SPEAKER_26 43:14

Yes, he's Jordan.

SPEAKER_17 43:15

Hey Jordan, this is RJ Bates calling about your property there on 16th Avenue. Looked like you had uh filled out a form saying that you were interested in selling that property. Is that correct?

SPEAKER_26 43:26

Yes, yeah, I am.

SPEAKER_17 43:28

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

SPEAKER_05 43:31

Um, honestly, I don't think you'd be calling that so fast. Um, I'd have to I'd have to talk to some people and and price it because uh I it's a mobile home. And uh I'm really not sure exactly how much I want to sell for at this moment. Can I give you a call back though?

SPEAKER_17 43:47

Yeah, is it a mobile home with land or just a mobile home?

SPEAKER_05 43:51

Um it's it's on land. It's in a mobile home tournament park area. He's the whole my dad wanted, but he just passed away. Um so he owns the whole.

SPEAKER_17 44:06

Right, but would I own the land or am I paying rent on the land?

SPEAKER_05 44:10

Um, that is a good question. I would have to ask.

SPEAKER_17 44:14

Okay. Uh, because if you if I'm buying the land, then I would be interested. But if I'm renting the land and it's in like a mobile home park and I don't get the land, then I I wouldn't be interested in just the mobile home itself.

SPEAKER_05 44:28

Okay. I I think it's more of just the mobile home itself because it's in a trailer park that's owned by the uh church ring at store. Yeah. So I didn't think he owns the land.

SPEAKER_17 44:36

Yeah, you're definitely paying rent on that then. Okay. Yeah, I'm sorry, man. I I wouldn't be interested in that.

SPEAKER_26 44:42

No, but thank you for calling me.

SPEAKER_17 44:44

All right, bye-bye. That's the second one like that you got. So so far, I have gotten five full voicemail boxes and two trailer parts mobile homes with no land. Um I and your leads have been fantastic. I'm going to do what I see people do all the time. This is clearly a problem with the leads. Clearly, property leads is is just screwing me intentionally. I'm I'm going to text James and tell him that his leads suck now. Don't just do that. Ask for a refund. Oh, that's right. I should do that as well. James, because if you're gonna be if you're gonna be a dick, might as well be a dick, you know. Yeah, James, will you please refund me my free?

SPEAKER_19 45:45

All right, we're gonna try. Um since RJ's using a very strategic method.

SPEAKER_20 45:54

The person you're trying to reach is not available. At the town, please record your message.

SPEAKER_17 45:59

No, when you have finished honestly, Jerry, I'm just trying to give you the opportunity to get a signed contract before me. Appreciate that. Yeah, the best way to do that is by talking to people that have things that I don't want to do.

SPEAKER_19 46:16

35's a no-go. I mean, RJ, this just goes to prove that having a strategy with these leads does not is not beneficial. Just I don't want to pick leads.

SPEAKER_17 46:31

Why are we not getting the behind the scene only available for RJ and Jerry leads?

SPEAKER_19 46:36

Yeah. You know why you didn't give them very much prep time, maybe.

SPEAKER_17 46:41

That's that's accurate because my my partner in crime was silent until Tuesday, almost afternoon. Something about like birthing calves and fixing fences. Honestly, Jerry, you have posted a couple of reels lately that have offended me. Which really? Yeah, yeah, like honestly, like like actually just kind of pissed me off. Reels, yeah, like the ones where you're like slinging a sledgehammer with a six pack and saying, if you don't do this all day, you're not a real man.

SPEAKER_21 47:27

The person you're trying to reach isn't available. Please leave a message at the town.

SPEAKER_17 47:34

I never I never slung a sledgehammer and said that. Well, you're like putting a fence together like in a barn or something. I don't I don't know what you're doing. You're doing farmer shit.

SPEAKER_14 47:50

Which ones are you calling?

SPEAKER_19 47:53

33.

SPEAKER_17 47:55

Which one did you just call?

SPEAKER_19 47:58

Um shoot, I don't remember now. Uh I'll tell you.

SPEAKER_15 48:11

Hey, did you really name the cow Brent Daniels?

SPEAKER_25 48:16

I mean please leave your message.

SPEAKER_19 48:19

They're both beefy.

SPEAKER_18 48:27

Nope.

SPEAKER_17 48:28

I uh I I can't wait for the follow-up reel where you're eating hamburgers and being like bread never tasted so good.

SPEAKER_19 48:43

I'm trying uh 32. James better send us another batch here soon.

SPEAKER_17 48:54

No, I just I just need to talk to one. That's all I need. Someone with a house.

SPEAKER_24 49:04

Leave them at hedge.

SPEAKER_17 49:07

Is it a holiday today? So to be clear, I have I have owned two pet hedgehogs in my lifetime.

unknown 49:16

Of course.

SPEAKER_17 49:16

Oh, you're ready for a you're ready for a possum. I I named them Sonic and Knuckles. Just super original.

SPEAKER_15 49:36

Are those good pets? No.

SPEAKER_19 49:40

Not very cuddly.

SPEAKER_15 49:42

No, not really.

SPEAKER_19 49:44

Wasn't bad. Alright. RJ, tell me which one I should call.

SPEAKER_17 49:52

Um, you should go. Oh, twenty-three for sure. Okay. That's what you did. That's what you did to me last week. I returned the favor.

SPEAKER_06 50:08

New York.

SPEAKER_19 50:17

Watch, it's an awesome deal.

SPEAKER_17 50:20

Probably, probably a hundred gig. You never told me the the story.

SPEAKER_18 50:25

Oh yeah, I gotta tell you about that.

SPEAKER_24 50:28

Hello. This number are being screened by smart call blocker. Please say your name after the tone, then grass pound.

SPEAKER_19 50:38

Jerry Norton calling about your house on Willowbrook.

unknown 50:44

Hello.

SPEAKER_24 50:45

What do you think Jerry? This number are being screened by smart call blocker. Please say your name after the tone and grass pound.

SPEAKER_19 50:55

Jerry Norton calling about Willowbrook.

SPEAKER_01 50:59

Just did that. Please wait a moment while your call is connected. Jerry, what do you think?

SPEAKER_19 51:11

I mean that's oh yeah. Dude, you must have like an AI graphic on payroll.

SPEAKER_17 51:19

Just that technically speaking, this person that made it is on payroll. So yes.

SPEAKER_19 51:26

You come up with the coolest graphics.

SPEAKER_17 51:30

Get rid of it. There we go. Shout out to Danny Forrest for making that. That's cool. I saw that in the comments. That was funny.

SPEAKER_19 51:46

Come on, Frank. RJ turned it red before he's had a chance to not answer.

SPEAKER_17 51:59

I think his I think his little thing is uh messing with you. It made you do it twice.

SPEAKER_18 52:07

Nope. Not doing that.

SPEAKER_17 52:09

You need to go 21, Idaho. Closing a deal in Idaho on a live would be unreal. Why why is why is Idaho so hard? I don't know. I because you never see lead. I mean, think about it. Have you ever called an Idaho lead on one of these lives? No. I mean, this this would be fantastic. Twin Falls, Idaho. They're gonna ask you if you're moving there from California. I'm not sure I don't have my phone with me. Please, please.

SPEAKER_19 52:48

So leave a message. I don't have my phone with me.

SPEAKER_17 52:51

So Steve Train sucked so bad at wholesaling that he retired. And he went and created an AI bot that accidentally got a signed contract, and because of that, he wants to get back into wholesale.

SPEAKER_18 53:09

So now he now he's proven that he's he's really good at wholesale.

SPEAKER_17 53:14

Because the the AI bot is gonna do the acquisitions for him. It's gonna close, it's going to close. It's that good, Jerry. I mean, I'd come out of retirement too. Could you imagine if our competition literally turns to nothing but AI bots? It's just no way. How could it?

SPEAKER_19 53:39

I mean, it's bad enough with what the competition already is. I mean, it's one thing to say, hey, I'm an AI agent. I mean, we have this. Hey, I'm an AI agent. Right. Uh, let me gather some information and pass it on to my team. Do you want to sell? Okay. You know, like, oh, that makes I could see that, but yeah, no, this is closing.

SPEAKER_17 54:02

How? I'd love to see it. I'd so I'd love to see it negotiate the the post occupancy lease back terms.

SPEAKER_19 54:17

Yeah, and find her a new trailer in in uh Mansfield.

SPEAKER_16 54:21

Yep.

SPEAKER_12 54:25

I'm calling thirty-four telephone number eight.

SPEAKER_17 55:16

Hey, you know when you call them, you're supposed to get them to answer, right?

SPEAKER_19 55:20

Yeah, I should be leaving voicemails too, but I don't got time for that.

SPEAKER_23 55:24

Yeah.

SPEAKER_19 55:28

Guys, that's not an efficient way to manage your leads and not leave voicemails.

SPEAKER_17 55:38

What do you say? Sub to Michael Jackson Equity Protection Program. What's my what?

SPEAKER_19 55:48

Yeah, I want to see AI. I want to see AI do that one. That's great. I'm double dialing number three.

Earnest Money Up Front Red Flags

SPEAKER_18 56:03

No.

SPEAKER_26 56:05

Hello.

SPEAKER_17 56:06

Hi, is this the owner of 3909 Quay Street?

SPEAKER_05 56:10

There you go.

SPEAKER_17 56:11

Hey, this is RJ Bates. Looks like you guys filled out a form on my website saying that y'all were interested in selling that property. Is that correct?

SPEAKER_05 56:18

Yep.

SPEAKER_17 56:19

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

SPEAKER_05 56:23

Uh we've been on right around $400,000.

SPEAKER_17 56:28

400,000. All right. Well, tell me a little bit about what you got going on.

SPEAKER_05 56:34

Somebody just called about the website. Oh, I got it. We're just selling the house and getting rid of it. My fiance inherited a house from somebody and we're getting rid of it to get a new house.

SPEAKER_17 56:49

Okay. Let's see here. And how'd you come up with $400,000?

SPEAKER_05 56:56

Prices that we've seen and prices that people's offered and stuff like this. We've had a few people look at it. You know, as you kind of shopping around. And most of them is nothing but games.

SPEAKER_17 57:10

What do you mean by that?

SPEAKER_05 57:12

Uh you know, they they they they won't be in an old rope for dope drink, you know. They won't be in, oh, we'll get you this much. And then uh when it finally comes down to it, oh no, well, we'll give you 60,000 left or something like that. You know, we've had a couple of those and I'm not dealing with that kind of bullshit, really.

SPEAKER_17 57:31

Okay. So they they told you that they would give you the 400 and then tried to price drop you.

SPEAKER_05 57:37

Oh no, it was higher net. It was like uh 4275, and then they tried to price drop us.

SPEAKER_04 57:44

So some guy that I uh dumbass death that you can do all that put on the market for 350 359 or something bullshit. That's what they bought.

SPEAKER_17 57:58

Oh, so they tried to list it on the MLS?

SPEAKER_05 58:01

Yeah.

SPEAKER_17 58:02

Uh, you know what that's called. No. Did they did they try to protect you with some white gloves?

SPEAKER_05 58:09

Nope.

SPEAKER_17 58:10

Oh, okay. It's called the Novation. And uh that's what that's what happens when they they come out, they tell you, they'll give you a number, and then they go list it on the MLS trying to make a spread. Nothing wrong with it, but they should have told you that they were gonna do that.

SPEAKER_05 58:24

For sure. Yeah. And uh quite a few of them didn't, and they I you know, we're just uh at the point now I'm about ready. You know, my closing on my other house is on the 15th, and you know, the closing on this house should have been the 15th, but uh nah. When they tried to lowball, we just said, no, you didn't even put down here enough money.

SPEAKER_26 58:48

Exactly.

SPEAKER_17 58:49

Understood. Okay, so I'm an investor. Now, if I pay 400, I'm obviously I want to get a return on my investment here. So I'm looking at the numbers here. You've had other investors come out. Um, you know, they kind of played some games with you. Walk me through. If I give you 400, how can I make some money with this property?

SPEAKER_04 59:15

Okay, so I just found out um Thursday that there's an attic in this house that could be another bedroom. So to me honestly, think of a what, four to five bedrooms in this house? Four with a master bedroom, make it five. Um, the property in the back, you can add another little space for a house to rent out. Like what do they call them?

SPEAKER_05 59:35

It's a third of a third of an acre one, is what this that's um it's listed as a three-bedroom house. Um when they come out and look at it. We look at the attic upstairs, and the attic is, I mean, it's one of the cleanest attic you've ever seen. You can put a complete room upstairs, maybe even two. For kids. Um for kids, you know. Things like that. The foundation on the house for the house being built when it was built in 1941 is one of the most solid foundations you'll ever see. Um, all the timber in it is all true two by fours and two by sixes and two by twelves.

SPEAKER_17 1:00:16

Talk to me about the condition on on the inside. What does that look like?

SPEAKER_05 1:00:21

Uh I say redo it.

SPEAKER_04 1:00:25

Not all of it needs to be good. Like the kitchen in the bathroom. They can on the person against the stuff. Yeah, that's true. If I was going to save money in the kitchen in the bathroom would be my focus, and then touch-ups on the rest. Honestly. That wouldn't be me. Just have a house anymore.

SPEAKER_17 1:00:43

Okay.

SPEAKER_26 1:00:44

I say it's a straight fiction flip.

SPEAKER_17 1:00:47

Okay, so if that's the case, we're we're looking at like a thousand square feet. Is that correct?

SPEAKER_05 1:00:53

No. No, I don't. 12 in the basement, 12 upstairs.

SPEAKER_17 1:00:58

Is the basement finished?

SPEAKER_05 1:01:01

Uh all you need to do to go down in the basement is put some walls in.

unknown 1:01:08

Okay.

SPEAKER_26 1:01:09

I mean, yeah.

SPEAKER_05 1:01:11

Plus, I got a complete gym in the basement.

SPEAKER_17 1:01:18

Okay. So I think from an investor standpoint, part of the issue might be that if we have to do a significant amount of rehab on the inside, um, we've got we've got to start with what could the property be worth? You guys probably know the area. It sounds like you've been doing this for a while. What do you think the property would be worth if I did all of those repairs to the property?

SPEAKER_05 1:01:44

Six six in the six range, probably.

SPEAKER_17 1:01:50

Okay, so let's just say six hundred thousand, and then I've got to do the full gut. What do you think that would cost me?

SPEAKER_05 1:01:57

Well, I'm thinking at $80,000 to $100,000, in my personal opinion, because on a blazer, I do put in bulletproof glass and banks, uh, do all most of the apartment buildings downstairs, putting in windows. So I kind of got a little rough idea of what things cost.

SPEAKER_17 1:02:14

Okay, so you're saying $80,000 to $100,000?

SPEAKER_05 1:02:17

Yeah.

SPEAKER_17 1:02:19

Okay, so $600,000 is what my after-repair value would be. Let's just say we'll cut it down the middle, $90,000 on repairs. I pay you guys $400. So that leaves me about 6% profit. Um, if everything goes right after holding costs and closing costs. Um, if those numbers are accurate, I need you to I need you to be a little bit flexible on the 400, and I think that might be what some of the other people were seeing. They probably just didn't tell you that the the correct way. Um now with us, we do cover all the closing costs. There's no commissions and whatnot. So this would be a net number to you minus anything that you owe on the property.

SPEAKER_05 1:03:10

So nothing on the property.

SPEAKER_04 1:03:12

Just the taxes for this year. Right.

SPEAKER_17 1:03:14

So if I were to cover all the closing costs outside of those taxes, what do you think the best price you could do for me would be?

SPEAKER_04 1:03:21

So I would say what 1785? With 10,000, 5,000 five. Yep. So 378 with 10,000 earnest money, 5,000 in cash front so that we can put the 3,500 tours on the house tomorrow. I I do have a limit on this, I do have a contract, but it's not a sign because I'm not gonna sign nothing. Um, and that's what they're offering, but they can't do nothing until Friday with the money. And that's hurting me on the fact that I push my my house that I want to buy twice already to call them the house in the third time. What if they say no? You know, I lose out. So that's a really big thing.

SPEAKER_17 1:04:04

Oh, so you've got to put your earnest money down on the property that you're trying to buy.

SPEAKER_05 1:04:09

Yeah. Well, see, what it is is on this house, the person that had this house was ordered. I've spent quite a bit of money with four roll-ups, getting all the shit out of this place, cutting down trees, helping her to get everything situated, and it's tapped us down to bare minimum.

SPEAKER_17 1:04:34

That 378-500 was very specific.

SPEAKER_05 1:04:40

I know, but that's what she does it.

SPEAKER_04 1:04:43

That's what's in the contract. I mean, I'm just being honest.

SPEAKER_05 1:04:45

I, you know, she's looking at a somebody sending her a contract to look at to see if she wants to do it or not.

SPEAKER_04 1:04:51

But they can't do nothing except till Friday. That's why nothing's signed and nothing's set in stone because I'm not, you know, I I kind of like need someone to work with me on that. It's it's possible.

SPEAKER_17 1:05:01

Oh, you're saying that 378.5 is the price that you have to purchase your new property.

SPEAKER_04 1:05:08

No, it's the price that it's it's in the contract that I was sent in my email that I have not signed. There are cash offers.

SPEAKER_17 1:05:15

Oh, from another guest.

SPEAKER_04 1:05:17

The only thing that they can't do is they can't do the cash up front and the 5,000 because 10,000 up earnings money, right? I'm not asking for the whole 10,000 up front. I only need to help make it through and to make the 3,500 because we spent so much of our money and have been jerked around and we would have been out of the top somebody, you know, and spent the money and weighed on money things like we would have put in and I needed my own caps to put down. I'm just being honest with you. No, I'm not working right now. Those costs is all the time. I needed this to be thousands of something, I would have waited.

unknown 1:06:01

Okay.

SPEAKER_04 1:06:02

This is my first time traveling house. I've never done this before, so it's all a learning lesson.

SPEAKER_17 1:06:08

So the the other buyer is saying they're willing to give you the $3,500 EMD up front on Friday.

SPEAKER_04 1:06:18

$5,000.

SPEAKER_17 1:06:20

$5,000.

SPEAKER_04 1:06:20

They're going to give you $5,000. Yes, on Friday.

SPEAKER_17 1:06:25

To you or to a title company? To us. That is that is insane. I would not do that. I can't give you money up front. If I send it to the title company, though it's it's held in escrow until we close because I mean, say I give you the money and you could just disappear, right? I mean, what if there's a title issue?

SPEAKER_04 1:07:04

I'm be disappearing that quick with no money to my name. Um, I'm not here to play games, but if that's what you think, I'm good. Okay, take care. Bye.

How To Handle Title Risk

SPEAKER_17 1:07:15

She hung up.

SPEAKER_23 1:07:17

Yeah.

SPEAKER_17 1:07:18

It was uh it was a marginal deal. We were gonna have to come down on price, but they're wanting money up front. Um, and and I agree with everybody that uh what they said in the in the chat there. Um I think there's some recreational drug usage going on there. Um I I do not I do not believe their story. Um I'm also curious just to see here. I want to make sure the property looks like there are multiple owners, and she said she inherited this, and so that's even more of a red flag that this is going to have title issues, yeah. And and so when they're asking, they were I wasn't quite understanding. I thought she said she needed $3,500, but she wanted $10,000 EMD and then $5,000 to her, I guess, because she needs $3,500. I don't know.

SPEAKER_19 1:08:27

It's hard for her for her earnest money on her next move. Right. You know, I I release money early all the time, but not until I get back title work and not until we're like right before closing, you know.

SPEAKER_17 1:08:44

Um ten thousand dollars earnest money and then have that non-refundable on day one without seeing it? I mean, no.

SPEAKER_18 1:08:57

No.

SPEAKER_19 1:09:00

And you don't ever do that unless you get uh it's a steep discount, right? Like I had one time, RG, where I had the property under contract for like it was something like 80, and the guy calls back and he says, and it's like Tuesday, and he's like, I need the money by Friday. What can you do? And I said, Look, I gotta jump through a bunch of hoops, I gotta rush title. There's it there's a possibility, but like what am I getting for doing all that? We already have a contract in place. He's like, he says to me, I'll drop the price to 50 if you can get me funded out Friday. Okay, I'll jump through the hoops. You know what I mean?

SPEAKER_17 1:09:42

I'll jump. The other part of this that was scary that stood out to me is that the two owners listed have different last names. It's a mess.

SPEAKER_18 1:09:54

That thing's a mess.

SPEAKER_17 1:09:55

And she's saying, um, I'm willing to sell this property, uh, but you need to give me money up front. Man, I I guarantee you that thing's got title issues. Yeah, I needed that Tory to be somewhere around 350, and she was at 378. Do you think those were innovations? Those those offers they got. Yes.

SPEAKER_18 1:10:18

Yeah.

SPEAKER_17 1:10:18

They they literally listed it on the MLS. Yeah. And I could see why, because from the the street view, I was actually blown away that he said it needed a full gut because from the street view, it looks really nice. Yeah.

SPEAKER_18 1:10:33

Is 600 the back end?

SPEAKER_19 1:10:36

Uh yeah. Okay.

SPEAKER_17 1:10:38

Yeah. All right, I'm gonna try number number five here. There was a 585 comp, a 615. So write that right there.

SPEAKER_19 1:10:52

So he at least he was at least he knew his numbers somewhat. I think he had been through it like four or five times. Okay, that was six. Or no, sorry. Yeah, that was six.

SPEAKER_17 1:11:52

Jerry, we are having a lower connection rate today than we we have over the past month. Do you think this is um due to the fact that we're coming off of uh the fourth of July weekend? It could be. But I don't know. I mean, isn't everybody back to life like normal life? Yeah, but I mean, you just took vacation. Maybe you're a little bit busier trying to catch up. Maybe you're on vacation because you went out of time. Yeah, just Joseph.

Investor Math On Pennsylvania Price Gap

SPEAKER_13 1:12:23

Yeah, hi Joseph.

SPEAKER_19 1:12:24

Calling about your property on Avenue A. Yeah. Still looking to sell that?

SPEAKER_26 1:12:32

Yeah, great.

SPEAKER_19 1:12:33

Let's take a look at it. I'll pull this up right now. What are you thinking on this one? What are you hoping to get? 200,000. 200,000. Okay. You've thought about it. That's great. And why 200?

SPEAKER_06 1:12:53

Because that's what I think it's worth.

SPEAKER_19 1:12:55

Okay. Give me one second here. I'm just looking at it.

SPEAKER_06 1:13:04

A couple of them around this area sold for that amount on this same block, even more.

SPEAKER_19 1:13:12

200, you said?

SPEAKER_01 1:13:14

Yep.

SPEAKER_19 1:13:16

Okay. Yeah, I'm just real quick. I pulled up the Zillow, says one's 59.5. So what I'm gonna have to look here what's going on. Uh, but I am an investor and I'm all cash. So are you hoping to get like market value, like a retail buyer? Is that what you're telling me what you're thinking?

SPEAKER_06 1:13:40

If you're gonna give me cash, I'd take 180. I just want to go through a realtor and stuff and go through all in cost.

SPEAKER_19 1:13:49

Yeah, I get that.

SPEAKER_06 1:13:51

If I get 200,000, I'm gonna lose 12 right off the bat.

SPEAKER_19 1:13:55

Yeah, because you have commissions. Right. Right, but see, I don't want to pay retail less commissions because I can I can buy houses at retail all day long. You know what I mean? I'm looking for a I'm looking for a discount where I can buy it, do something, and make money.

SPEAKER_06 1:14:12

Well, I'm looking to make money and sell because I want to move.

SPEAKER_19 1:14:17

Yeah.

SPEAKER_06 1:14:18

Well, I think it's 200,000.

SPEAKER_19 1:14:21

Uh-huh. But if you could get cash, no closing fees, no commissions, as is, close when you want, you know, what would you pay for an offer like that?

SPEAKER_06 1:14:32

Lowest I can go is 175.

SPEAKER_19 1:14:35

175. There's not it's not showing me much on this. Uh, where is Palmerton, Pennsylvania? Where is this?

SPEAKER_06 1:14:47

It's uh like Oakanill area, East Pennsylvania, east Pennsylvania.

SPEAKER_19 1:14:55

What's your nearest metro market, like big town? How far away is that?

SPEAKER_06 1:15:02

Uh 20 miles.

SPEAKER_19 1:15:05

Okay. All right, let me let me look at what uh let me see if I can find what you're seeing.

SPEAKER_06 1:15:19

I put a two twenty thousand dollar oil burner in. There's four bedrooms, a nice big outbuilding. Used to be a garage, but it's an outbuilding now, but it's it's nice. Nice big area.

SPEAKER_19 1:15:35

Outbuilding like a like a detached garage or what?

SPEAKER_06 1:15:38

Yeah.

SPEAKER_19 1:15:40

Okay.

SPEAKER_06 1:15:42

Everything sided, replacement windows, siding.

SPEAKER_19 1:15:47

So what would I need to spend on it to flip it?

SPEAKER_06 1:15:52

Not much. You could use new carpeting or flooring.

SPEAKER_19 1:15:57

Okay.

SPEAKER_06 1:15:58

Paint probably. Other than yeah, maybe paint. I don't know. The two bedrooms upstairs are good. The two in the attic, they they could use a little work.

SPEAKER_19 1:16:09

Are you um are you north of Delaware Avenue or south?

SPEAKER_27 1:16:16

Uh south.

SPEAKER_19 1:16:18

Okay, so I'm looking at a couple of comps here. Yeah, I mean, there's a nice house on Leah Avenue. You know where that is?

SPEAKER_06 1:16:29

Lehigh.

SPEAKER_19 1:16:31

Lehigh, sorry. Yeah, Lehigh.

SPEAKER_06 1:16:34

That's the street below me.

SPEAKER_19 1:16:35

That sold for 217. Nice one here sold for 254. What's your what's your square footage again? 1100?

SPEAKER_06 1:16:48

I'm not sure. I have a finished basement, I have a full upstairs, and I have actually it's four floors.

SPEAKER_19 1:16:57

What's your total what's your total square footage? I'm not sure. It's gotta be more than 1100 if it's all that. Are you are you one bath?

SPEAKER_06 1:17:10

I yeah, just one bath.

SPEAKER_19 1:17:13

Okay. So are you a two-story?

SPEAKER_06 1:17:17

Because I don't see any it's actually a three-story. Okay. So there's two bedrooms all the way up in the attic, and then on the next floor down, there's two bedrooms, and then on the bottom floor, there's a big living room, a big kitchen, and uh like a laundry room, and the other half is a bath, and then a finished basement.

SPEAKER_19 1:17:50

But just one bathroom. Yeah, yeah, that's that's gonna hurt me because uh all these comps have two bathrooms. So I'll have to think about that. Well, so here's my challenge. You know, for me to make sense out of this as an investor, you know, I gotta look at a return on investment, right? So if I buy it, put some money into it, try to resell it, I gotta factor in all my cost. So I'll be paying commissions and closing fees when I resell it. I'll be paying financing to my part to my money partners, then try to make some profit. I need to be all into the deal for around 70% of what I can flip it for. Right? So if I take, you know, I got a 217 and a 255. Let's just say I take 235. Maybe I can get more, but just as just to kind of give you an idea, I need to be all in after rehab for 165. Which means if I back out, you know, 20 or 30, that's putting me down at like 130. But you're gonna run into that with any investor.

unknown 1:19:05

Yeah.

SPEAKER_19 1:19:06

Like this will be that you're gonna have this conversation on repeat if you talk to guys like me.

SPEAKER_24 1:19:11

Right.

SPEAKER_19 1:19:12

So I'm just kind of laying it out for you. You know, you'll get more money if you try to find a retail buyer, but investors you they gotta get a discount to make sense. I understand. So I I can do it if we're at 130, but 175. Unless unless you can get me some a better idea of your square footage, because the these comps I'm looking at are um, I mean, this one's 1300 and this one's a thousand. You know, so you so you're if you're bigger than that, then maybe basically I'd say, I don't know, 20 by 40, three stories high.

SPEAKER_06 1:19:59

Yeah, I don't know where they got that measurement. I had a one on the front porch too. I there was an open front porch. I closed it in and made it part of my living room, so I gained an extra nine feet. And then I have an addition also on the back where the bathroom and the laundry room are.

SPEAKER_19 1:20:15

I don't know if it's gonna matter a whole lot. I mean, I'm looking at one north of Delaware that's 2,000 square feet, four-bedroom, two-bath. It sold for 238. Okay, another one. I mean, you got plenty of comps. A 1400-4-2 sold for 250. I mean, you're I got so much data here that puts me in the 230 to 250 range, and though and those square footages are are up there too. So, and those are all two baths. A one bath is a hard sell when the market has a bunch of two baths, you know. Like what's a retail buyer? Would a retail buyer want two baths or one bath? You know, you have a family, that's a hard sell. And that might cost me 10 grand to try to figure out a bath.

SPEAKER_06 1:21:02

I lived here 38 years, I had no problem.

SPEAKER_19 1:21:06

How many kids do you have?

SPEAKER_06 1:21:09

I do. They're both gone, growing gone.

SPEAKER_19 1:21:13

Do you have the wait in line to brush your teeth?

SPEAKER_27 1:21:19

Sometimes.

SPEAKER_19 1:21:21

Yeah, I'm just to me uh to me, I don't care. I don't care. I'm just it's the market data that this house was built in 1917.

SPEAKER_06 1:21:29

It's lucky it had a bathroom at all. It didn't have a town.

SPEAKER_19 1:21:36

You know, my dad, he bought an old farmhouse built in the late 1800s in rural Michigan, and when he bought it, it had no running plumbing, it had an outhouse. And I grew up, my I grew up till I graduated high school with one bathroom with seven kids. Well, see you survived, so yeah, it actually well he bought it for $25,000, so there you go. Um, okay, so what do you what do you want to do? Which way do you want to go?

SPEAKER_06 1:22:12

Go lower than $175.

SPEAKER_19 1:22:14

Okay. Then I think your best bet would be listed with an agent for $199. See if you can get somewhere up there and go from there.

SPEAKER_06 1:22:24

Right. That's probably what I'm gonna do. Don't hurry.

SPEAKER_19 1:22:27

Yeah.

SPEAKER_06 1:22:28

All right.

SPEAKER_01 1:22:30

Good luck to you. Okay, thank you.

SPEAKER_15 1:22:33

Okay, see ya.

SPEAKER_23 1:22:39

I I thought you did everything great on that call.

SPEAKER_17 1:22:43

You just motivation wasn't there. No. The the lines about the the bathroom, the one bathroom were pretty good. Did you have to wait in the line? Did you have to wait in line to brush your teeth? Oh yeah.

SPEAKER_19 1:23:03

Sometimes you didn't do it, did you? Imagine being the fourth one to take a dump. You know what? We would me and my brothers, we would all stand around the toilet and pee at the same time. It was like it was like Star Wars.

SPEAKER_26 1:23:17

I'll see if this person is available.

Transparent Wholesale Pitch And Process

SPEAKER_17 1:23:19

Hey, this is uh RJ Bates Conabch property on Garrett Road.

SPEAKER_27 1:23:29

Thanks. Please stay on the line.

SPEAKER_17 1:23:38

Hey, is Teresa there?

SPEAKER_26 1:23:41

This is she.

SPEAKER_17 1:23:42

Hey Teresa, this is RJ Bates calling about your property there on Garrett Road. Looks like you filled out a form on my website saying that you were interested in selling that property. Is that correct?

SPEAKER_02 1:23:52

That is correct.

SPEAKER_17 1:23:54

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

SPEAKER_02 1:23:57

Um, at least um I'd like it to go at least 110. It's worth 150.

unknown 1:24:08

Right. Right, right, right.

SPEAKER_17 1:24:10

All right. 110. What you got going on over there?

SPEAKER_02 1:24:15

Um it is a four-bedroom, two-bath, and it has a bonus room, new appliances, including hot water heater. Um there's an 18 by 20 shop on the property, a four park barport on the property, and a nice long back porch covered. A sitting porch.

SPEAKER_16 1:24:44

Okay.

SPEAKER_02 1:24:45

And it sits on two acres of land.

SPEAKER_17 1:24:51

What's got you looking to sell?

SPEAKER_02 1:24:54

Um, truthfully, I need to move my family a little closer into the city so they have easier access to things that they need. Just a little too far out in the country for them.

SPEAKER_17 1:25:09

How far away is it?

SPEAKER_02 1:25:12

Well, it's 15 minutes off the exit.

SPEAKER_16 1:25:16

Okay. Let's see.

SPEAKER_02 1:25:20

But I've got one that walks, and I want him closer to something for his health that he can walk to.

SPEAKER_17 1:25:32

So it looks like you guys just removed it off of the MLS, is that correct?

SPEAKER_02 1:25:38

Yes. I don't think the real estate agent was doing much with it, so I let my contract with her expire.

SPEAKER_17 1:25:47

Did you ever have any showings or any feedback?

SPEAKER_02 1:25:50

Um, I did have a few showings. Um what they said was it needed more work than what they wanted to put into it. Because it needs the shingles put on the roof, which we are actually going to do this weekend.

SPEAKER_17 1:26:14

Are you hiring somebody to do that, or are you doing it yourself?

SPEAKER_02 1:26:18

Um hiring somebody to do it.

SPEAKER_17 1:26:20

Okay. And what what else did they think needed to be done to it?

SPEAKER_02 1:26:27

Uh, there's a few pieces of flooring in the dining room that needs to be replaced. I already have the flooring to replace it. So if we get finished with the roofing in time, I'm gonna have that part of the flooring replaced. Just the luxury vinyl plane, not the subfloor.

SPEAKER_17 1:26:50

I think part of the issue was is these pictures are are well, hold on.

SPEAKER_28 1:26:56

These are the pictures are old.

SPEAKER_17 1:26:58

Yeah, these are very old. Yeah, these are the old pictures. Did they not come out and take new pictures?

SPEAKER_02 1:27:04

They did. They were up on there, but I guess she took them down when she took it off the listing.

SPEAKER_17 1:27:10

She's like, those are my pictures. Um keeping them.

SPEAKER_02 1:27:13

Yeah, pretty much.

SPEAKER_17 1:27:16

Realtors are silly.

SPEAKER_27 1:27:18

Yeah.

SPEAKER_17 1:27:20

Silly, silly. Um, did you ever get any offers or just they're not interested?

SPEAKER_02 1:27:28

I did get a couple of offers, but they were right at like 95,000 offers, and that's not gonna cut it. Not when I know the value of the property.

SPEAKER_17 1:27:48

When you say you know the value of the property, what do you mean by that?

SPEAKER_02 1:27:53

Well, um, I have Los Fargo's evaluation of my home. Because I'm a Wells Fargo uh client or account holder, and they have valued the home at $147,000.

SPEAKER_17 1:28:13

And was that an actual appraisal or are they just basing that off of the tax assess value?

SPEAKER_02 1:28:21

Uh that I don't know how they got the numbers. That is beyond my pay grade.

SPEAKER_17 1:28:30

Yeah, and and I come across this often, and it's somewhat unfortunate because I understand where you're coming from. You're like, hey, my bank over here says my house is worth $150,000. Um, but that's kind of similar to are you familiar with the website Zillow?

SPEAKER_02 1:28:49

Yes. So Zillow kind of sucks.

SPEAKER_17 1:28:54

Yeah, and and so does that number that that Wells Fargo told you because you just had the house listed for $130,000 and no one was willing to give you $130,000. And so at the end of the day, your house is only worth whatever somebody's willing to give you for it.

SPEAKER_13 1:29:12

Yes, I'm aware of that.

SPEAKER_17 1:29:13

Wells Fargo ain't gonna come give you $147,000 for it, you know what I'm saying? So it sucks for you as a client that they would tell you that, and it kind of gives you that that thought process because now you're you had it out, you had it listed for $130, now you're even asking $110,000, and now you're talking to people like me that are investors, and so I look at this and I say, All right, well, what could the property be worth after I improve it? And now you're even investing money into it. You know, you're doing a roof, you're gonna do some flooring. Um, so I'm looking at this and I'm saying, I I would have loved to been able to do buy the property before you do some of that work so you didn't have to spend that money out of pocket um and see what those numbers look like because I feel like that $150 to $160,000 number could be what this property is worth after all the repairs are done to it. Yeah, and they're all minor repairs, right? So, how much do you think it really needs after the roof? Like dollars and cents wise, what do you think it needs in repairs?

SPEAKER_02 1:30:33

In repairs, if we were not to touch the floor, I've already got the material to do so, but if we weren't to touch the floor and someone wanted to do some updates, I would say, you know, because I've already updated the sinks in the master bathroom. I have not updated the shower or the bathtub because they're in perfect working order. Um realistically, probably a couple of thousand to repaint it and make it look nice and clean. We've already got the faceplates off to do so and have begun that. But that's about all it's gonna need is some paint. The kitchen is in solid condition. None of the cabinets are all wonky or anything like that. They're solid wood.

SPEAKER_17 1:31:38

All right, give me just a few seconds here. I'm looking, I'm trying to see if I can because you are kind of out there a little bit. I want to see if I can find a few other sole properties around you. See if I can find a little bit of additional value there. What what city are you moving to? Like what's your what's the major city that you kind of go into town to?

SPEAKER_02 1:32:24

Um, I found a place in Beach Island, and that's where one of my sons works.

SPEAKER_17 1:32:31

Oh no, no, I'm I I apologize. Uh not where you're moving. Like when you go to the store right now, you said it's like 15 minutes from the exit, whatnot.

SPEAKER_02 1:32:41

We just go to uh where North Augusta just begins in South Carolina.

SPEAKER_16 1:32:49

Okay. So you're going south. Southwest, kind of. Okay.

SPEAKER_17 1:32:59

What and you already have a place that you're moving to, so timeline-wise, what are you looking like for uh for wanting to make this transition?

SPEAKER_28 1:33:10

Um probably a couple weeks. If possible.

SPEAKER_17 1:33:25

What were your intentions because you removed it off the MLS? You were gonna go do the roof and the flooring. Were you gonna plan on listing it again with a different realtor?

SPEAKER_27 1:33:39

No.

SPEAKER_17 1:33:40

What are your what are your plans on selling it?

SPEAKER_02 1:33:43

Um I'm either gonna do a quick sell or I'm gonna go ahead and allow my sons to stay there and just pay rent.

SPEAKER_17 1:33:53

Okay. When you say you're gonna do a quick sale, what do you mean by that?

SPEAKER_02 1:33:59

Find an investor who will give me a decent price for it.

SPEAKER_17 1:34:02

Well, that's that's me. What's a decent price?

SPEAKER_02 1:34:06

Well, like I said, I would like to get at least one ten out of it.

SPEAKER_17 1:34:10

I don't know that I can do the one ten. I was hoping you were gonna tell me a better number. That's why I was asking. Uh just because I just I I'm so back and forth. I'm trying to find something that is exactly like your property. Because I've got a I've got a I know I've got a bunch of bigger, uh newer, and I got some with more land, some with less land. Um, so there's always something that makes me be like, that's not what yours is, right?

SPEAKER_27 1:34:42

Yeah.

SPEAKER_17 1:34:46

The people that offered you 95, they weren't investors, were they? They were they were owner occupants, weren't they?

SPEAKER_02 1:34:52

Uh yes.

SPEAKER_17 1:34:53

Yeah.

SPEAKER_02 1:34:55

It was actually the previous owner of the property's son. But that was all they could come up with. So they weren't able to meet me at my one fifteen mark at that time. Financially, they were only qualified for ninety-five. Uh offer from an investor, and then at the last minute they turned out to be kooks and backed out. That's where I came up with the number 110 to 115,000.

SPEAKER_17 1:35:54

What did what did they tell you the reason why they backed out?

SPEAKER_02 1:35:59

Um, their reasoning was they didn't have the funding open at the time to be able to take on my property.

SPEAKER_17 1:36:09

Okay. I think what they were doing was probably trying to wholesale. Are you familiar with that term?

unknown 1:36:19

No.

SPEAKER_17 1:36:20

So wholesaling is you get a property under contract, and your intention is not to buy the property, it's to go find the flipper or the landlord that will actually buy the property, and you sell the contract to that end investor. So it's say if I told you right now, yeah, I'll give you 110, and then you sign the contract for 110. I go find a house flipper and I say, hey, you could buy this property from me for 115, and then I would assign the contract to them for the $5,000.

SPEAKER_02 1:37:05

Yes, I got you. That makes sense.

SPEAKER_17 1:37:07

So they were probably never actually a buyer. That's probably what they were doing.

SPEAKER_02 1:37:13

Probably, because I got a call later on from somebody that they called to try to sell the contract to.

SPEAKER_17 1:37:22

Yep. And what did that person say?

SPEAKER_02 1:37:26

Uh basically just wanted to advise uh that they had tried to sell the contract to them, to them, but that they weren't able to help me because at the time it was listed.

unknown 1:37:42

Okay.

SPEAKER_02 1:37:42

If they had called previously, they would have been able to help me, but they didn't call in time and it got listed.

SPEAKER_17 1:37:52

Yeah. And that makes a lot of sense because to a lot of investors, what happens there is we look at it and we go, no one was willing to give you 130, which means no one was willing to give you 125 or 120 or 115, because if they had offered that, you probably would have accepted it or countered it and come to some sort of an agreement. So like I said, I really don't think that other than it being on Zillow, my real estate agent didn't really do much to promote the property in the first place.

SPEAKER_02 1:38:30

Oh, yeah. So I was kind of glad that the contract ran out.

SPEAKER_17 1:38:34

Yeah, I mean, I can I could totally I've been there, been there, done that. So you you don't have to explain it to me. I I get frustrated with with realtors all the time on on properties that I've listed, so I understand kind of the the situation that you're dealing with there. Um so the here's my situation. Um I have found a property that it feels like it's close, but also pretty far away. Um, are you familiar with Clarks Hill?

SPEAKER_02 1:39:06

Oh, yeah, that's right around the corner from where uh the property is located. You literally take a right out of my driveway and go the opposite way that we would normally go to go to town and you dump right into Clarks Hill. Okay, it's only about eight miles down the road.

SPEAKER_17 1:39:28

All right, and and normally I don't like to ask these questions just because I have the information, but I just want to make sure it's correct. Is your property 2,432 square feet?

SPEAKER_27 1:39:40

Yes.

SPEAKER_17 1:39:41

Okay, well, there's a couple of good things. I I did find a property in Clarks Hill that is currently listed um for 190. It's it's very overpriced, it's in bad condition. But if that thing can sell for anywhere remotely close to that, that at least gives me a what I refer to as a current market value comparable. Um, so that helps me a little bit because at least I I have something to kind of build a bridge with. So here's here's what I'm thinking. Um you want to move this quickly, and you're you're in a position where you're putting money into the property to get it moved quickly. Um I think the best way that I could actually support you would actually be to wholesale the property.

SPEAKER_23 1:40:49

Um I know you've already been down that road and it wasn't successful, but those people also weren't transparent with you, they didn't tell you.

SPEAKER_17 1:41:03

And what I can do for you is if we were to go out and get feedback from buyers, I can come back to you and let you know these are the offers that we're receiving from the end buyers. This is what all the investors, all the flippers, this is what they're saying they're willing to offer on the property. Hopefully, it's more than what you want for the property, so we can just move forward. So if we were to say, hey, let's move forward at this 110. If I can get 115, then that's great. You get your money, I get my money, we move on about our way. My fear is that the feedback's gonna come back and they're gonna say, I want to buy this at 100,000, meaning I would need you to be below 100,000.

SPEAKER_26 1:41:52

Yeah.

SPEAKER_17 1:41:54

Is that something that you would be open to because I don't want to go do the work that I have to do to get those offers for you to basically say, Yeah, I'm not gonna go below a hundred thousand because I do believe that's where we need to be.

SPEAKER_02 1:42:12

Yeah, I don't think I want to go below a hundred. That I'm pretty confident of.

SPEAKER_17 1:42:21

Even if that's where all of the investors say they need to be.

SPEAKER_02 1:42:27

Yes.

SPEAKER_17 1:42:29

What what would you do at that point? Relist it?

SPEAKER_02 1:42:32

I know. I would honestly, it's paid for.

SPEAKER_17 1:42:37

Oh, that's right. You said you would just have your sons move over.

SPEAKER_02 1:42:39

I would just let them run it from me. But a lot of the reason that I'm trying to get them out of there is because it's two acres. It's too much for them to keep up with the maintenance of the property and work a full-time job as well.

unknown 1:43:00

Okay.

SPEAKER_02 1:43:02

So I'm trying to find a smaller place, a little closer to town for the one that walks, and just more convenience.

SPEAKER_17 1:43:17

How much time would you give me to try to find buyers?

SPEAKER_02 1:43:26

I think no more than 30 days.

SPEAKER_17 1:43:29

Oh, it's more than enough. I really don't even need I don't even need that long. Um, but 30 days would be how long I would need to get it closed and funded, more than likely. So I would need about seven to ten days in reality to get pictures from you, present this in front of all the buyers, get feedback from them, receive their offers. I'm sure there'll probably be one or two that want to come out and want the property and actually see it. And then at that point in time, we would know. I mean, if if we ain't got any good offers after 10, 12 days, then it I would just tell you, like, hey, you we need to move a different direction, you know.

SPEAKER_02 1:44:18

Okay, so I don't need a full 30 days, it definitely wasn't advertised very well at all. It was literally just listed and left, right?

SPEAKER_17 1:44:27

And so the way this works is I I just want to be very clear about this. I I would not be listing this on the MLS, I would only be yeah, I'd be privately sending this to my network of buyers, so it wouldn't be publicly out there. That's a whole different thing, and and it doesn't sound like that would serve your needs uh on what you're wanting to accomplish. So that being said, I I would like to send you a contract for the 100,000, put a 30-day close date on there. We stay in communication with you over the next week to 10 days, let you know like daily updates. Hey, this is where we are in the process. If we find a buyer, then we close in 30 days. If we don't, then we move on our separate ways, and you'd probably just at that point in time, I'd probably advise you like, hey, you should probably let your your kiddos move in there and move on about their way.

SPEAKER_27 1:45:26

Yeah.

SPEAKER_17 1:45:27

Does that sound good to you?

SPEAKER_27 1:45:30

Yes.

SPEAKER_23 1:45:31

Okay, I have your email as okay.

SPEAKER_17 1:45:42

I'm gonna go ahead and I'm gonna write this contract up. It'll probably come over to you in about 15 minutes. Simple two-page contract. If you've got any questions, uh feel free to give me a call. I'm probably gonna go ahead and have uh someone from my team that will be handling the communications with you and and with the buyers go ahead and reach out to you um so they can go ahead and get pictures. Are you at home right now?

SPEAKER_02 1:46:07

Um I actually don't live on the property.

SPEAKER_17 1:46:11

Is there anybody there that could give us pictures?

SPEAKER_02 1:46:15

Um my sons are there right now, so I can ask them.

SPEAKER_17 1:46:20

Yeah, that would be great. We can actually send you over like just a little checklist of what we need. We just need enough to be able to show the buyers like, hey, this is what the property looks like before they come out because buyers want to be able to see it, what condition it's in before they actually drive all the way out there to make their offer. Gotcha. So, what I'll do is I'm gonna go ahead and have my team draft up that contract, send that over to you, and then I'm gonna have them give you a shout so we can go ahead and line up getting those pictures and get this process started, okay? Okay, all right, thank you, Teresa.

SPEAKER_28 1:46:55

Thank you.

SPEAKER_17 1:46:56

All right, bye-bye.

Why Bad Wholesaling Triggers Regulation

SPEAKER_27 1:46:57

All right, bye-bye.

SPEAKER_17 1:47:00

Don't ever tell them that you're the middleman, Jerry. Whatever you do, that pisses people off.

SPEAKER_19 1:47:09

What a great way to explain it, RJ. And I mean, people just want to understand what's going on, and then they're fine, you know, right, right.

SPEAKER_17 1:47:21

It's so funny. She's like, I just don't think that this was marketed very well. And she's like, I I think an investor needs to buy this. Yeah, she's literally saying, like, I need a wholesaler.

SPEAKER_13 1:47:34

Yeah, can't find a buyer.

SPEAKER_17 1:47:37

Can somebody come out and and provide me this service? The the fear that I have is that I do think we are going to come across offers at 95,000. Yeah, I I really do fear that we are gonna end up in a five thousand dollar standoff where my buyer's gonna want 95,000. She's gonna be like, RJ, I told you I'm not going below 100. And then it's and to be honest with you, it's then gonna come down to my team and and their capability of re-bringing up the uh the pain, the motivation that she has, the convenience, the you want to move closer to town.

SPEAKER_19 1:48:22

Is it is five thousand dollars or is ten thousand dollars really worth walking away from this to go let your your other kids who can't take care of the property, or or are you all but see here's the difference because you explained to her so well what you're doing and what the downside is, you never promised her that you were gonna get her that. She's not packing the U-Haul or anything, right? She's not making her next move until you confirm. So when you have that heart-to-heart conversation, it's not an awkward thing, she's not upset, she's not pissed off. Maybe she maybe she won't come down, but at least it's it's not a bad conversation or a bad experience. Where that's what she's having before. And so then it's just like, hey, I've got the buyer, I told you I'd find a buyer, they're ready to go. Unfortunately, the highest buyer I could find is 95. For me to make some money, we need to go down to 85. You know, you want to get this done or not, you know, and so you can have that conversation, and it's it's a normal conversation, yeah.

SPEAKER_17 1:49:26

And it's funny because she talks about the other people that had her under contract, and she had no issues with the fact that they were wholesaling. She's like, they were they were kooks, is what she called them. And I'm like, what happened? And she goes into this. Oh, they said they didn't have the money, their money was tied up. But it went as far as they think this is how bad this wholesaler is. Their buyer called the seller to inform them of like, hey, we just can't help you. Right now, I mean, it's just a a bag of lies across the the board there. And this is when we jokingly make fun of Pennsylvania and Delaware and Missouri and California, this is why the regulations are coming down.

SPEAKER_01 1:50:19

Yeah.

SPEAKER_17 1:50:20

I mean, honestly, can you blame them? No.

SPEAKER_19 1:50:25

Delaware specifically said, and they they put out this synopsis of like an overview, and they basically said, due to high consumer complaints, that that's why we're putting this in place. And that was coming from the the consumer protection agency with the state. That's our own fault. Now, NAR doing their thing for licensing, maybe that's got nothing to do with us, but the disclosure regulations and the right to cancel contracts, that's our own fault that those laws are coming down. Yeah, that's bad wholesaling that's causing that.

SPEAKER_17 1:51:04

Yeah, the the great question here. Um, if the other wholesaler couldn't find a buyer, how do you guys think you can sell it? And considering it was also listed on the MLS. So a couple of different things here. One, uh, I I love taking on deals that were previously contracted by another wholesaler. Um, more often than not, what you actually find out is is that the buyers either one didn't want to work with that wholesaler, or two, the deal was so poorly marketed, uh, or they just listed it on investor lift or base and just hope that it went and sold itself. We actually go to work, we have connections with these buyers, we're gonna pick the phone up, we're gonna talk to them, and and we're gonna navigate this situation the same way that we do um every other deal. Yeah, where we're going to tell the seller this is what the buyer's offers are, and we're gonna navigate that situation. I I personally think that our offers are going to come in at the $95,000 range. I think that's where we're gonna get our offer, and then it's at my team's job to then either get that buyer up to 97, 98 and get that seller to come down to that 90 to 93,000 range, whatever. Um, Sam Weaver's the guy who's probably gonna be working this deal. He just commented, we're just that good. It's his job to go do this. That's it. That's he's gonna be the guy that's working this.

SPEAKER_19 1:52:35

Um, yeah, it's it's funny, RJ. Like, hey, hey, everybody, when we dispo, we literally outbound buyers for three days straight. Yeah, you know, you like we work, we go to work, you know what I mean. We don't just post it and then say nobody commented on Facebook. I guess it's not a deal. That ain't dispo. That's that's spray and pray. That ain't that ain't a that ain't a strategy, that ain't a business.

SPEAKER_17 1:53:03

And and the other part about this is is that some people look at this and I mean I see the comments is you know, it's not closing, and all he has to do is send it to his dispo team. That dispo team is the team that I hand picked, I chose those people. Sam Weaver, I I hand picked him and chose him to be a part of my team, and he's trained daily by my partner and and by my hand-picked general manager. So, yeah, he I do just pass this on to my team. That's the right that I've earned as a business owner for two decades. So, yeah, I mean, but hey, congratulations. You get the the free show on here and the education on how to be transparent. So, uh, anyways, I'm gonna get this contract sent over so we can make sure I'm gonna call 37 here uh in South Carolina.

SPEAKER_19 1:53:56

Are you that's mine? Get out of here.

SPEAKER_14 1:54:00

Oh, you gotta that's the one I just closed. Oh, you forgot to mark it.

SPEAKER_19 1:54:05

Sorry.

SPEAKER_14 1:54:07

Are you? Are you gonna call that one? No, I'm not I'll offer you one oh one.

SPEAKER_19 1:54:13

I'm glad you I'm glad I told you which one I was calling. That would have been awkward. Okay, no, I'm calling thirty six uh in Illinois.

Comping Live With A Logical Seller

SPEAKER_19 1:54:52

Yes, hi Karen. This is Jerry Norton. How are you?

SPEAKER_07 1:54:55

Good, how are you?

SPEAKER_19 1:54:56

Good, good. Calling about your property on Wisconsin Avenue.

SPEAKER_07 1:55:00

Shirley.

SPEAKER_19 1:55:01

Okay, yeah, you had filled out a form that you're looking to sell that property. Is that still the case?

SPEAKER_04 1:55:06

Where did I fill the form out?

SPEAKER_19 1:55:08

Uh on my website.

SPEAKER_04 1:55:11

Oh, I didn't fill it all the way out. I get backed out.

SPEAKER_19 1:55:14

Oh.

SPEAKER_04 1:55:14

Because then you said it was worth 41. I'm like, bullshit.

SPEAKER_19 1:55:18

Who said it was worth 41?

SPEAKER_04 1:55:20

That's what that when I went online. I don't know where it went. Yeah.

SPEAKER_19 1:55:24

What would you have to say?

SPEAKER_04 1:55:25

But you're because I was on Facebook or something.

SPEAKER_19 1:55:28

I mean, I have a number of different websites, but it's basically an intake form. You fill out saying I'm looking for an offer, then my team passes it to me, and then I call and see if we can help you out here. I mean, are you no?

SPEAKER_04 1:55:39

Well, I tried this before. Somebody came, they brought a realtor with them, you know, and then they kind of did this and that. I'm like, nope. Um, I'm probably gonna go through a girl that I've already talked to about it because I want to get as much as possible that I can out of it.

SPEAKER_19 1:55:52

So I see. Well, what is that number?

SPEAKER_04 1:55:56

Um, I don't I at least want 50 and cleared of all the you know process fees.

SPEAKER_19 1:56:01

So 50 without paying closing fees. Yeah, okay. Uh looks like a real small house, 384 square feet, one bedroom, one bath. Is that right?

SPEAKER_04 1:56:12

Yeah, it's got a full basement, and in the attic we've redone, and it's 27 by 10 up there. And the basement, you know, it's got a craft room, uh, big laundry room, uh, the furnace room is a craft room, kid room, hallway to a back room.

SPEAKER_19 1:56:28

Okay. Well, let me just look real quick here. I don't know if I can pay that, but let me look at some numbers real fast.

SPEAKER_13 1:56:37

Okay.

SPEAKER_04 1:56:37

Uh, if I can if I can come anywhere around there, then we could keep talking, maybe, but I don't I don't maybe I don't go any lower than that because I'm not making anything that I need off of it.

SPEAKER_19 1:56:48

Do you have to pay off something?

SPEAKER_04 1:56:50

I would outright, you know, if I would just do it outright, because it's this is as is at this point.

SPEAKER_19 1:56:55

Why won't you make anything if you sell for 50?

SPEAKER_04 1:56:59

If I sell it for less than 50, I won't make anything that I want off of it.

SPEAKER_19 1:57:03

Okay, but do you owe do you owe on it still?

SPEAKER_04 1:57:08

No, it's it's paid for.

SPEAKER_19 1:57:10

Oh, okay. So how long have you owned it?

SPEAKER_04 1:57:16

Let's see here, since 90.

SPEAKER_19 1:57:22

Oh, wow. Okay.

SPEAKER_04 1:57:23

Yeah.

SPEAKER_19 1:57:24

And are you living there or is it vacant?

SPEAKER_04 1:57:26

But we started purchasing it. I no, I I cleared that in 18. We've refinanced it. So benefit. But yeah, I refinanced it, but then I had to pay it in 18 or 19. I got it completely paid off.

SPEAKER_19 1:57:41

Okay. Yeah. The challenge is if I look at homes that are, you know, your square footage.

SPEAKER_26 1:57:48

Right to mine. Yeah.

SPEAKER_19 1:57:50

Yeah. Like I'm looking at one on Seneca Place. Do you know where that is? And that's a two-one, and it's 624 square feet. And it recently sold for 32.5.

SPEAKER_04 1:58:03

Oh wow.

SPEAKER_19 1:58:04

Yeah. I mean, so that that's not me.

SPEAKER_04 1:58:05

That's they don't have a backyard. They got a gallery. They don't have the comfort that I have in this little house. Well, because my house is probably the most protected one around here. We don't have a towel. We don't have kids coming in and out of the yards, you know, stuff like that. So Seneca's a little shitty, by the way. Okay. That's where all the gifts are starting to pack up.

SPEAKER_19 1:58:24

So well, sell uh sell me on it then. You're you're you sound like yeah. So I'm I'm looking at the pictures on the sold comp, and it is a cute little house.

SPEAKER_04 1:58:33

It's there's no shed there no more. There ain't a shed, and and I'm about to do the uh thing this weekend. There's no shed where I had a shed on the back of your house. I don't know if you're looking at an aerial or a recent one or not, because if you're looking at an older one, you know, of a drone that came by, there was a shed back there, and there's no longer a shed.

SPEAKER_19 1:58:53

No, no, I'm still looking at I'm still looking at the data in your neighborhood. So this has a one-car garage and it sold. Um which one am I looking at here? Hold on.

SPEAKER_04 1:59:07

What's the address on that one?

SPEAKER_19 1:59:09

On Seneca. Oh no, I'm sorry. I'm sorry, that was the wrong one I gave you. This one here. No, it's not. Okay, so there's two. There's one on there's one on 721. That's the one I was looking at first, East Seneca. Okay, and that sold in June. I mean, that just sold for 32.5, and it does need work. Like it does need work. That one needs work.

SPEAKER_26 1:59:32

Oh, yeah, I know. I know what it is. I know every house in this neighborhood.

SPEAKER_19 1:59:35

Okay, so then do you know do you know uh 729, the one next door to that one? East Seneca.

SPEAKER_26 1:59:43

Okay, yeah.

SPEAKER_19 1:59:44

That one's cute, and that sold for 69.5.

SPEAKER_04 1:59:48

That's like right next door.

SPEAKER_19 1:59:50

That's that's your fit, that's your ARV, your after repair value. That's your fixed up value.

SPEAKER_04 1:59:56

Right, gotcha.

SPEAKER_19 1:59:57

But see, I can't pay 50, put money into it, sell it for 70, and make anything.

SPEAKER_26 2:00:01

What do you need to put into it?

SPEAKER_19 2:00:04

I mean, I usually usually I can't rehab a house, I can't do carpet and paint for under 20. Well, yours is small, so 15.

SPEAKER_04 2:00:11

I'll be painting. I know what I know what everything costs. There, you don't have to redo nothing here. My floors have all been redone. Okay, I got you know, bullion in there. I've painted everyone because I'm a painter, so they're all painted. Okay, everything's stunk in here, it's good to go.

SPEAKER_19 2:00:26

Are you in front of are you in front of your computer?

SPEAKER_04 2:00:30

I sure am.

SPEAKER_19 2:00:31

How do you compare to this one? Look up 729 East Seneca.

SPEAKER_04 2:00:36

You got anything on uh 1002, oxygen? Just sold two. Um yeah, but you're not a three-bedroom. Oh, I know.

SPEAKER_19 2:00:47

I just want to know in the area for what are the you know, what are the I put I put in my filter, I put in my filter only under 750 square feet because I can't look at the bigger stuff.

SPEAKER_04 2:00:58

I gotcha.

SPEAKER_19 2:00:59

Okay, yeah, you seem like a very logical person. So now there's another one um further south, a little bigger, 720 square feet on Virginia.

SPEAKER_04 2:01:10

Am I looking up on Zillow or what am I looking up? Just the address is south.

SPEAKER_19 2:01:13

Yeah, they're they'll be on Zillow. Yeah, just yeah, just Google the address and then put Zillow. Yeah, and you'll see it.

unknown 2:01:19

Okay.

SPEAKER_19 2:01:20

So this one got 60, and it's a 1-1, 720 square feet, and it's nice. Like it's this is a flipper that did this one. It's rehabbed, and it's really nice. In fact, let's look at that one because that one got that one got 60. Look up this one, Virginia Avenue, 600 East Virginia.

SPEAKER_26 2:01:42

Okay, hold on.

SPEAKER_19 2:01:43

The this is well done. Like new kitchen, new floors. They did some outside work.

SPEAKER_04 2:01:50

What was the address again on the numbers up there?

SPEAKER_19 2:01:52

600 East Virginia. And it's a little bigger too, but it is a 1-1, so that's a good comp.

SPEAKER_04 2:02:01

Yeah, let me see here. 600 East Virgin.

SPEAKER_19 2:02:06

I mean, this is like new fixtures, new everything, new bathroom.

SPEAKER_04 2:02:11

Yeah, I see that. That looks nice.

SPEAKER_19 2:02:13

This is cute, it's got a little shed or whatever.

SPEAKER_04 2:02:16

Uh-huh.

SPEAKER_19 2:02:17

And for fun, let's see what they bought this for, if it'll tell us. Sold for 25. No, no, no, sorry, that's wrong. That was a while ago. That's not, I don't know what they bought it for. But somebody, somebody, I could look it up, but somebody bought this, put a bunch of yeah, put some money into it, and then flipped it for 60. Now, I don't know if they made money, but they but 60 is the top of the market for your house.

SPEAKER_04 2:02:43

Certainly. Yeah, I gotcha.

SPEAKER_19 2:02:46

So just with just with closing fees, commissions, time, you know, 50 would be way, way too much. But I'm just I'm just telling you, I'm just telling you straight. I mean, it doesn't matter to me. I'm I'm just telling you what what's what see for me the market, yeah, you're a logical person. So the market doesn't lie. I mean, the data's here, it's it tells us.

SPEAKER_26 2:03:05

Surely, yeah.

SPEAKER_19 2:03:06

People people like to say, I think it's this, I think it's that, but you know, the data doesn't lie. It's it's all right here. So there's three, there's three comps. 32 is what it looks like when you need to buy it and rehab it. Fit 60 is what it looks like fixed up because there's that comp for someone paid 32.5 for 721 East Seneca, and that needs you know a rehab. But yours yours is nicer, I get that. Yeah, than that one. Because that needs a kitchen, a bath, and everything else.

SPEAKER_04 2:03:37

Yeah, no.

SPEAKER_19 2:03:39

But like if you're serious about selling it, I think you need to be, I don't know, probably 40, 35, 40.

SPEAKER_04 2:03:49

Yeah, then I should probably keep it.

SPEAKER_19 2:03:51

Even then, even then, I'm not making might as well just freak and keep it for that.

SPEAKER_04 2:03:57

You know what I mean? Where am I gonna go with 30 something, you know, thirty thousand dollars to do nothing?

SPEAKER_19 2:04:02

Yeah, I mean, well, yeah, what would you do if you keep it?

SPEAKER_04 2:04:07

What if I I don't know. I'd I'd hate to have to rent it in this damn neighborhood. Seriously. You're saying Virginia. I'm surprised they got that much in Virginia.

SPEAKER_19 2:04:15

Does it get worse when you go south?

SPEAKER_04 2:04:18

Yeah, yeah. You don't it actually give sucks, you know what I mean? And it's and and Virginia's always been really bad within the last at least three years, you know what I mean? It just gre it keeps creeping from Arcadia and Archer. That's where all the dudes are, you know, that are after them up. So that, you know, down to Nebraska and uh down Kansas and all that stuff, it's it's right in there. That's where they subject now.

SPEAKER_19 2:04:40

You're not you're not doing a very good job selling me on buying your house right now.

SPEAKER_04 2:04:44

Well, I know that, but I'm just letting you know that it's you know, it's just getting warmth in this neighborhood for the most part. So, but my you know, like Wilcox, that's probably your last bet on there. Seneca is okay, it's not bad, but on the back side of it, yeah, that's it's just I don't know why it's just gotten that way. It's because they did the school district the way they did. So they really screwed us on that. But the other one was it gift or was it Virginia, the 725?

SPEAKER_19 2:05:13

Um there was the two on Seneca, then there's the then there's the one on Virginia that got 60.

SPEAKER_04 2:05:22

Okay. Yeah, I wanted to see the 725, the one that you said that was, you know, junky.

SPEAKER_19 2:05:27

The nice one or the ugly one?

SPEAKER_04 2:05:29

No, the one that you had to redo or one that had to do.

SPEAKER_19 2:05:32

Yeah, that one's 721 East Seneca.

SPEAKER_04 2:05:35

721, okay.

SPEAKER_19 2:05:37

But that just sold. So that tells you what that tells you what investors are looking at.

SPEAKER_04 2:05:43

Yeah, yeah, that's what I'm saying. There's a lot of rentals. Are you part of that? Because I definitely know that there's a lot of section eights around here.

SPEAKER_01 2:05:54

Right.

SPEAKER_19 2:06:00

Um well we do that, yeah.

SPEAKER_04 2:06:03

Yeah.

SPEAKER_19 2:06:03

We do that, and I mean, but this might be this might make a great rental too. Maybe maybe you don't do much and keep it as a rental.

SPEAKER_27 2:06:11

Yeah.

SPEAKER_04 2:06:12

Yeah.

SPEAKER_19 2:06:13

But you gotta leave me room to make money or it doesn't make sense.

SPEAKER_04 2:06:17

Surely, I got you on that too. Yeah.

SPEAKER_19 2:06:20

Well, what do you want to do?

SPEAKER_04 2:06:21

Yeah, well, I'm gonna continue to look into it.

SPEAKER_19 2:06:26

Okay. So you don't you don't want to you don't want to do 30s?

SPEAKER_04 2:06:32

I do not want to do 30s, but thank you. Appreciate it.

SPEAKER_19 2:06:36

Okay.

SPEAKER_04 2:06:37

Yeah, no.

SPEAKER_19 2:06:38

If you change your mind, say say my number if you change your mind, let me know. All right, all right, good luck to you. Jerry.

SPEAKER_04 2:06:46

Jerry.

SPEAKER_19 2:06:47

Yep.

SPEAKER_04 2:06:49

All right, all right. Well, thank you. Thanks, Karen.

SPEAKER_19 2:06:51

Have a good day.

SPEAKER_04 2:06:52

Bye. Uh-huh. Bye.

SPEAKER_19 2:06:55

I mean, it's just not even worth the hassle, even at 30.

SPEAKER_17 2:06:57

Like, oh my gosh. What a great call, though. I mean, you literally had her on her computer comping properties and analyzing the deal with you.

SPEAKER_19 2:07:08

You know, that doesn't work with everybody, but when they're super logical like her and smart and like they're then you know, go for it because they'll now. If she had some motivation, then I could have convinced her with logic on comps. Whereas someone who's just got their head, you know, they're all emotional, that kind of distress. Then you don't ever do that because they don't care or understand or anything, but she was sharp.

SPEAKER_17 2:07:31

Yeah, that was just tough. That was the Peoria. Yeah, yeah. I love Peoria, but I mean, you gotta buy them, you gotta buy them cheap.

SPEAKER_19 2:07:42

Yeah. I mean, honestly, that comp for 30, that's our cash buyer, so I really need to be at 20. Right, right. But that one is in a little worse shape than hers, I I bet.

SPEAKER_17 2:07:54

So it was so funny. Um, my son played uh hockey game against uh the West Peoria Junior Mustangs. They came into town and they played him, and uh one of the parents is like, Where is Peoria even at? And I was like, Oh, it's Illinois. They're like, How do you know that? And I was like, Oh, I've done like 50 deals in in Peoria. They're like, really? Is it is it like really nice houses? And I was like, No, you still don't understand what I do. No, it's really bad houses. That's why I've done so many deals.

SPEAKER_19 2:08:33

Well, we don't do deals where nice houses are. It's it's crazy that there's two ARV comps that I just looked at in in the past couple of months. Like, who in the world is flipping a $60,000 house? How do you make any money flipping a $60,000 house? You don't, you don't, yeah.

SPEAKER_17 2:08:54

Unless you're buying that what'd you say they bought it for $25 or $30?

SPEAKER_19 2:08:59

No, I thought it was $25, but that was back in like 2011 or something. But but uh I'm curious now what they paid for it because they they easily spent 30 30 grand on that rehab.

SPEAKER_17 2:09:10

Yeah, I was gonna say you had to buy it for like five or ten.

SPEAKER_19 2:09:13

Five or ten. You're not making that much. You're making ten grand to to renovate a house? Like, why? Why? Just why?

SPEAKER_23 2:09:21

I don't know. All right, let's get another one.

SPEAKER_19 2:09:38

You know, while you're calling there too, one of the other things about um compinging with your seller answer is uh it allows you to freedom the freedom to think out loud while you're doing it. Right. I see you do this often too, where I'm figuring it out.

When A Retail Seller Is Not A Fit

SPEAKER_19 2:10:00

Hello?

SPEAKER_17 2:10:02

Hey, is Nancy there?

SPEAKER_04 2:10:04

Yeah, Nancy's calling.

SPEAKER_17 2:10:06

This is RJ Bates calling about your property there on uh South First Street. Looked like you had filled out a form on my website saying that you were interested in selling that property.

SPEAKER_04 2:10:16

Yes, I am very interested in selling it.

SPEAKER_17 2:10:19

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

SPEAKER_04 2:10:22

Uh at least 165.

SPEAKER_17 2:10:26

165. Okay. Well, tell me a little bit about what you got going on over there.

SPEAKER_04 2:10:32

Uh three bedrooms, two bath, uh the garage has been converted into the third bedroom with full bath, walk-in shop, or uh walk-in closet. Um master bedroom, uh garden test and a walk-in shower. In grounds on the raised garden beds, everything needs a little bit of work. Garbage reading the kitchen floor and that's not all my series. What else do you need to help?

SPEAKER_17 2:11:10

What's got you looking to sell? Sounds like you got a nice place over there.

SPEAKER_04 2:11:15

My husband has MS.

SPEAKER_17 2:11:18

I'm sorry to hear that.

SPEAKER_04 2:11:20

It's gonna be a little bit much on us, and I'm 74 years old, so it's time to size down. All my grandkids are grown, and I want a little bitty two bedroom, two baths, that's it. No yard work.

SPEAKER_17 2:11:34

I see. I I don't know where I'm seeing these pictures from, but there's pictures I see the the garden beds, the pool.

SPEAKER_04 2:11:42

Um I had it on the market last year.

SPEAKER_17 2:11:46

Did you? Okay, and what happened there?

SPEAKER_04 2:11:49

My realtor decided to take more cruises than open houses.

SPEAKER_17 2:11:56

Oh, old realtors.

SPEAKER_04 2:12:06

I got four dogs and I like to go swimming, and they like to go swimming, so I didn't want to show the house anymore. I just got tired of it.

SPEAKER_17 2:12:14

Man. Wanted you to show the house, huh?

SPEAKER_10 2:12:19

Yeah.

SPEAKER_17 2:12:21

Normally they just put what's called a super lop box, and then the buyers could just come in and on their own with their realtors.

SPEAKER_04 2:12:29

That's well, I had to be here because I had to move my dogs from the inside to the outside. Uh you know, never realtor here.

SPEAKER_13 2:12:38

Yeah.

SPEAKER_04 2:12:39

You know? And because my son-in-law is a broker, and she told me what she was doing, but not exactly kosher.

SPEAKER_17 2:12:48

So right. So, real quick before we get too far into this, Nancy, I do just want to be transparent with you. I'm I'm an investor, and so normally I'm I'm looking to buy properties that are either distressed or the seller is in a situation where they're looking to sell because they need keen convenience or or speed or something like that. Um just looking at the property itself, I mean, it's in really great shape. You've taken great care of it. I understand you want to sell the property because of your your husband's condition, but um I don't know if that equals selling to an investor, you know, the the the discount.

SPEAKER_04 2:13:30

That would be something that would be up your alley, actually. Because that you're like saying you are an investor, the house is you know, you can walk into it living.

SPEAKER_23 2:13:42

Right.

SPEAKER_04 2:13:43

I mean it yeah, the program needs a lot of work. It needs to just hit the floor, but I've got anything to do with that. And but it's gonna need a whole lot of work otherwise. We stand the outside of the house, and the inside of the house, like we take care of the pool, we've got the market, and once you see the fitness, you know what I'm talking about.

SPEAKER_17 2:14:02

I do. So what I would like to do for you, because I I never just want to leave a seller just without any kind of a solution. I do have a a really great realtor down in that area. Would you like for me to pass on their information to you or vice versa, so you could at least have a conversation? Because I do think the best way for you to get uh close to that 165.

SPEAKER_04 2:14:31

I just don't want to deal with all that anymore. I just I want to get it sold in you know, three to six months and just move.

SPEAKER_17 2:14:40

So are you willing to come down on the price in order to do that?

SPEAKER_04 2:14:45

No.

SPEAKER_17 2:14:47

So, how do you think you're gonna sell it without dealing with a realtor?

SPEAKER_04 2:14:52

I've already got uh two offers from other people, like um like an open door. It's not open door, but it's like an open door, and they've offered me 182.

SPEAKER_17 2:15:04

Okay. Well, they offered you 182. Why would you tell me 165? I mean, why wouldn't you just take the 182?

SPEAKER_04 2:15:12

So that's the lowest out.

unknown 2:15:14

Okay.

SPEAKER_04 2:15:15

If you're in a ester, you don't want it at all at that price, so as a broker.

SPEAKER_17 2:15:21

Okay, yeah. I mean, if you have an offer for 182, that's a that's a crazy is it orchard that's offering you that?

SPEAKER_04 2:15:27

Yeah.

SPEAKER_17 2:15:28

Yeah, be careful with orchard. There that's a little tricky of a situation that's not as straightforward as it comes across.

SPEAKER_04 2:15:35

Yeah, no, they want to know where the prices in it before they sign the check. Right. Okay, writing. I'm not stupid, I'm an old woman. I didn't get to know about being stupid. So you know.

SPEAKER_17 2:15:56

Okay. Sounds like you're all hooked up there, Nancy. So best of luck with Orchard and uh hope everything works out for you.

SPEAKER_04 2:16:02

Okay, thank you so much.

SPEAKER_17 2:16:03

All right, bye-bye. You know, Jerry, I've got this thing. I've got a soft spot in my heart for old women. Like, I always want to help them out. But man, nothing irritates me more than when I try to be super generous and nice to an old woman, and they flip the script and they start being like kind of condescending and mean back. It really kind of just like grates my soul. Like, yeah, I'm trying to oh, you know more than me. You I'm sitting here telling you, like, be careful about that offer with Orchard, it's not what it might seem like. I know my way around the block. I didn't get to 74 years old because I'm a dummy. You just got to 74 years old because your heart kept pumping for 74.

SPEAKER_19 2:16:49

Right. That's what I was just gonna say. What is what does your smarts have to do with how old you are? Right, like man. Anyways, I thought that was super generous that you were looking out for trying to help her with a real. I mean, you're not make you're you're done, so you could just hang up instead. You're trying to give her value.

SPEAKER_17 2:17:09

So I told her that, like, hey, before I waste your time, like you should go do this. I don't think I'm gonna. She's like, Yeah, this is it for you. I know I just said that.

SPEAKER_19 2:17:22

Yeah, you're like, that's what I'm trying to tell you.

SPEAKER_14 2:17:27

Right now, you're gonna be mean because I'm saying, oh.

SPEAKER_19 2:17:32

Please leave your message for uh so no on 39. Okay. Come on, we gotta get we gotta get a good one here in the last little bit.

SPEAKER_17 2:17:50

Uh um, Jesse, I was gonna pass that on to fellow TU member Amy Merritt because that was in Copper's Cove and she's in she's in Kaleen right there, so I was just gonna pass it on to another TU member.

SPEAKER_26 2:18:04

That's a that's a license, thank you.

SPEAKER_07 2:18:55

Epicone, please record your message.

SPEAKER_17 2:19:02

Was that someone in your background yelling, Jerry?

SPEAKER_19 2:19:05

I think so. I hear I can hear my kids yelling.

SPEAKER_17 2:19:08

Okay, because it sounded like Cassie. And so I was she is she yells a lot, she yells a lot. Well, yeah, I was yeah, well, yes. You act like you've never met her before. She yells when she tells a story. I mean, come on.

SPEAKER_19 2:19:26

And I hear everything now, RJ. The other day I went out, I went out and I said to my wife, I said, I can hear the kids fighting with each other down the hill out in the backyard. She's like, Yeah, welcome to my world, buddy.

SPEAKER_17 2:19:45

You're like, I I never knew that our kids yelled this much. She's like, I know. This is why I wanted to stop at six, and you just kept going.

SPEAKER_18 2:19:59

I'm gonna try. So I tried uh twenty-nine and thirty now.

SPEAKER_15 2:20:11

I guess we'll do the California. I I hope you get this one. California California for me.

Florida Park Deal With No Paper Trail

SPEAKER_19 2:20:57

RJ, can I tell you about that Sanibel Island?

SPEAKER_07 2:21:00

Hall has been forwarded to an automated voice messaging.

SPEAKER_17 2:21:03

Okay, so it's hoping that you were gonna get this seller to answer because it was on balls.

SPEAKER_19 2:21:08

I know I was gonna I don't want I don't want to tell you what I was gonna say.

SPEAKER_17 2:21:13

Okay, tell me about this crazy deal in Florida.

SPEAKER_19 2:21:16

Okay, so if you guys listen, remember it's it's an it's a mobile home park, and it's like a it's like a luxury mobile home park. Well, first of all, no investor is allowed. You have to be an owner, you can't sublease. So I couldn't like buy the mobile home and rent it or anything like that. The rents are high, so you pay the park $775 a month, and that guy's got three lots in the house, so he's paying $3,100 a month bleeding right now. So I call the park manager and I'm like, hey, so how's this work? Like, there's a trailer, right? But how do the lots work? And this is what he says he says, there's no real estate. I said, Well, how do we transfer ownership? He says, We have a conversation like this. You tell me that you own them, I put it down on my list here that they that they belong to you, and you own them. I'm like, are you kidding me? He's like, Yeah, that's how it works. What? Yeah, there's there's no there's no, I said there's no paperwork. He's like, no. He says we do an orientation, I tell you how things work here, and that's it.

SPEAKER_28 2:22:24

And have you ever heard of that?

SPEAKER_17 2:22:29

No, what are we talking about? So so what are you officially owning?

SPEAKER_19 2:22:35

Uh nothing. I mean, I own the so I own the lots, and the I own the I own it, but my ownership is I'm on his list of owners on on the park, on the park list. But this place is like hot. So here's what he told me. This is why I renegotiated it. He's like, these three lots, they're RV lots only, and um, they need about three or four thousand dollars to put the gravel down and do the 50 amp hookup so that someone can pull the RV in. He's like, his problem is the the seller, he's like, his problem is he won't spend the three or four grand, so nobody's gonna buy him because the buyer wants to roll in with their RV and park. That's all they want to do. So I said, okay, well, I can't find anything on anything in here. He's like, Yeah, that's because there's no real estate agents. That one comp I had, that guy put it on a for sale by owner. He's like, the way people sell stuff here is it goes on my list, people come in here every day looking for something. We show them the list, they pick out the one they want, you sell it to them. And I said, How do I sell it to them? He said, The same way you buy it. I scratch your name off the list and I put their name on the list.

SPEAKER_17 2:23:44

What are we talking about? I know. I'm like, this is the wildest thing ever. Do you feel like this is like some mafia style?

SPEAKER_19 2:23:54

I mean, yeah, yeah, I so the guy's like, I run a tight ship, there's no pets allowed in here, and there's like a waiting list. He's like, if you put the three or four grand in and you make these three lots like ready, then he's like, you can sell these things for 40 really fast. He's like, There's buyers here waiting, they'll pay 40. If you fix up the house, you can get 300. So I went back and I said, Look, I can't do 180 for the package, I'll do 160. And he like lost his mind on me about it. You know, uh, I can't do that, I can't do that. I kept saying, Okay, fine, no problem. What about one? What about 170? No, what about 165? No, 160, that's it. You know, and so finally he came back and he's like, fine, 160. So um now I gotta literally like call the guy back, the the manager. You know, I I guess I wire the guy money and tell the manager, hey, I wired him money that I I paid for them. Now, can you put me on the list that they're mine? Yeah, man.

SPEAKER_17 2:25:04

You're gonna have to make a video of this and be like, the deal I probably shouldn't have done, but I did. Man, yeah. All right, I'm just waiting on you to close the deal. When are you gonna close the code? Oh, it's my turn, my turn. All right, we got some more on our list, right? I close, I closed my deal. Okay, what's why I called all the bad leads early on, Jerry. Well, apparently there's still a few left. I mean, you just you keep trying to negotiate these these poor people, lowballing them all the way down to like 30,000. Yeah, Danny contracted one for 10. Has a wild counter. Because apparently I say wild all the time now.

SPEAKER_19 2:25:58

Is that why you hashtag it?

SPEAKER_17 2:26:00

Yes. The other day during the implementation call, he had a wild counter where every time I said it, he would be like, That's the fifth time, the sixth time, the seventh time you've said it. That's wild.

SPEAKER_19 2:26:19

Not sorry, he said.

SPEAKER_24 2:26:21

Thank you.

SPEAKER_19 2:26:23

Pedro wants me to text him.

SPEAKER_17 2:26:30

My contract is officially signed.

SPEAKER_15 2:26:34

That a boy? Good. So we didn't get a goose egg today. That's good. No.

SPEAKER_19 2:26:40

Oh, you did so far. I I did, yeah. But I when I don't, then it's we. When I do when you don't, then it's I. I you know. Right. Yeah, exactly. I mean, come on, we're a team here today, RJ. We, so we got a contract.

SPEAKER_17 2:26:56

Yeah, I mean, kind of like me and Steve were a team on like the podcast I did with him. I mean, I carried the entire show and he just existed. That's kind of like the team that's going on right here. But didn't he ask didn't he ask good like thought-provoking questions? No, his his AI bot gave him the questions and he had it written down on a script in front of him.

SPEAKER_08 2:27:20

Your call has been forwarded to voicemail. The person you're trying to reach is not available at the tone. Please record your message.

SPEAKER_15 2:27:28

All right, RJ, where's Tioga? Tioga, Texas. Not good. We're calling it anyway.

SPEAKER_17 2:27:36

It feels very south. Oh, you don't know. I I do not. I'm I'm looking it up right now.

SPEAKER_19 2:27:46

See, my goal by the end of this, my goal is by the time you hit 3,000 days in a row on YouTube, you know every single town.

Wild Texas Call And Creative Finance

SPEAKER_19 2:27:55

Hello? Yeah, it's hi James. This is Jerry. I'm calling you about your house on Cutler Street.

SPEAKER_03 2:28:02

Oh, yeah.

SPEAKER_19 2:28:03

Yeah, I understand you're looking to sell that. Is that right?

SPEAKER_03 2:28:06

Yeah, I'm thinking about it.

SPEAKER_19 2:28:08

You're thinking about it?

SPEAKER_03 2:28:10

Yeah.

SPEAKER_19 2:28:11

What what would make you want to sell it?

SPEAKER_03 2:28:14

I want to get the fuck out of here.

SPEAKER_19 2:28:17

Why is that?

SPEAKER_03 2:28:19

Because there's too many hypocrites backstabbing a bunch of small bitches at Liverpool.

SPEAKER_19 2:28:24

Is that is that your name?

unknown 2:28:26

What?

SPEAKER_19 2:28:27

Where are you gonna go?

SPEAKER_03 2:28:32

Marble ball somewhere down in there. I might go to Florida.

SPEAKER_19 2:28:41

Yeah. Well, let's let's see if we can help you out. What do you want for this property?

SPEAKER_03 2:28:47

Uh I think 160 for it.

SPEAKER_19 2:28:51

I bet you would. That's that's like the retail value.

SPEAKER_10 2:28:56

Well, what do you want you for the seller?

SPEAKER_19 2:29:00

More than more than steal, shit. More than $40. Oh, you gotta give me a deal.

SPEAKER_26 2:29:07

Yeah. Well, how would you get for it?

SPEAKER_19 2:29:10

Well, see, I gotta buy it. I gotta buy it from you, fix it up, and resell it and make money, so I I can't I can't pay market value, right?

SPEAKER_03 2:29:19

Well, how much will you deal for it?

SPEAKER_19 2:29:21

I say I don't know. I gotta look at it. What's uh if I'm if I'm you tell me this, if I'm all cash, close quickly, as is, you don't have to do anything, you can walk away with cash in your pocket. What would you pay for an offer like that? What would you take?

SPEAKER_10 2:29:37

I'm not gonna I'm not gonna give it to you.

SPEAKER_19 2:29:40

I know I'm not expecting that, but what's the next what's the next notch up from give it to me? That's still too high.

SPEAKER_03 2:29:59

That's a fucking full man.

SPEAKER_19 2:30:01

Well, we can still that guy was a character. Oh sounded like Mater from uh from cars. How much does he want for it? He came down from 160 to 140.

SPEAKER_17 2:30:22

But we don't so this this just got removed. It was listed for 170. Yeah, I mean I I think what would make this video fantastic is RJ and that guy on the phone together. Call him back. I I feel like this is worthy of happening. Before you call him, let me call him back.

SPEAKER_19 2:30:51

Because I I don't like getting hung up on. Alright. But don't close him. Yeah, what now? James, why'd you hang up on me? Why do you give for the son of a bitch? I need to be at whatever whatever the fair market value is, let's call it 160. I need to be at 70% of that. So 112.

SPEAKER_17 2:31:24

Okay, now you can call him. Now I can call him. All right. Is is 112 what we need?

SPEAKER_19 2:31:32

I mean, yeah, let's look because you got one shot at this. Yeah, I got I got I got one shot.

SPEAKER_17 2:31:40

You got one shot with this guy. I'm trying to see. I I miss this. Is uh this is north of DFW. I'm actually disappointed in myself that I I didn't know that.

SPEAKER_19 2:31:54

Yeah, so am I. I have in my mind that RJ Bates knows every single thing in Texas.

SPEAKER_17 2:32:02

I I feel that you know there's a lot for 135 that's listed right now.

SPEAKER_19 2:32:12

I mean, there's some nice houses in Tioga in this neighborhood. Yeah, this is not a bad area. His house doesn't look that great, but but it's not a bad neighborhood. You know, I was just spitballing off of Zillow. Let's let's comp it real quick. I mean, there's another lot for 110. Just the problem is is if it if it didn't sell at 170, that tells me that tells me it's it's not. Where's it if it's if it's not selling for 170, then 160 probably is retail or lower, and then you gotta be way under that. So I'm probably not off at 112, 100, 112, 110.

SPEAKER_17 2:32:53

There's another lot that's listed for 99. Why are these lots listed for so much? How long have they been listed? I'm thinking these are like old houses that would be comparables for us, and they're not.

SPEAKER_19 2:33:09

I mean, there's there's an active for 239 that looks like his on Sherman just south of him.

SPEAKER_17 2:33:17

Yeah, but it was built in 1999, and ours is 1910.

SPEAKER_19 2:33:24

There's also an active for 100 on on Main Street down a bit. But there's some high, there's some nice stuff. So this is this is definitely like stay in the neighborhood because um there's some nice houses north of there a little in the forest.

SPEAKER_18 2:33:52

Can you find a comp? I I I can't.

SPEAKER_19 2:33:56

Because it's none of these nice ones.

SPEAKER_17 2:34:01

Everything is uh a different year build size is all way all over the place, right?

SPEAKER_19 2:34:08

I mean, do you see this active down here for 197? That's a bricker with a with an attached garage, 1300 square feet. That's that's uh and it's active at 200. So I don't know, man.

SPEAKER_17 2:34:26

Uh let's just get it over with. Have him hang up on me.

SPEAKER_19 2:34:31

What are you gonna offer him?

SPEAKER_23 2:34:33

Uh probably probably less than you.

SPEAKER_18 2:34:40

Offer him less than me, and then I'll call him back, and then my now my offer will be good. Exactly.

SPEAKER_17 2:34:52

Hey, it's James there.

unknown 2:34:54

That's me.

SPEAKER_17 2:34:55

Hey James, this is RJ Bates calling batch of property down at Cutler. You uh you still interested in selling that?

SPEAKER_03 2:35:03

I could be.

SPEAKER_17 2:35:04

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

SPEAKER_03 2:35:08

Well, I don't really know. I really thought I'm not gonna give it away, though.

SPEAKER_17 2:35:13

Okay.

SPEAKER_03 2:35:14

Like some of them cheap song bitches got stupid to them.

SPEAKER_17 2:35:18

Say that again?

SPEAKER_03 2:35:20

I said I'm not gonna give it away like some of them cheap ass pastors that's been calling me wanting me to give it to them, but I ain't gonna do that.

SPEAKER_17 2:35:28

What are they uh what are they offering you?

SPEAKER_03 2:35:31

112,000.

SPEAKER_17 2:35:33

112?

SPEAKER_03 2:35:34

Yeah.

SPEAKER_17 2:35:36

Fuck that guy.

SPEAKER_03 2:35:38

Yeah, that's where I said.

unknown 2:35:41

I told him don't call me no more.

SPEAKER_17 2:35:48

Uh all right. Well, what's your what's your situation? Why are you looking to sell?

SPEAKER_03 2:35:52

I want to move out of here.

SPEAKER_17 2:35:54

Where do you want to move to?

SPEAKER_03 2:35:57

Uh, whether I'm down South Texas, down around Marble Falls, or somewhere down in there, depends on what I don't care. Or maybe I'd like to move to Florida, but it'd take me a while to get ready where I could do that.

SPEAKER_17 2:36:10

Yeah. Marble Falls is gorgeous.

SPEAKER_03 2:36:13

Yeah, it is. I've been down there.

SPEAKER_17 2:36:15

Yeah, I love Marble Falls. It's like you drive to I live in Fort Worth, so when I drive to San Antonio, it's like I get to Marble Falls and it's gorgeous, and then you just keep driving, and then you get to San Antonio and you regret that you kept driving.

SPEAKER_03 2:36:32

Oh, I know it. Yeah. Yeah, that ain't no shit.

SPEAKER_17 2:36:36

So like what's the deal? You need money from this to go buy another property?

SPEAKER_03 2:36:41

Yeah, probably. I'd make a little rolling around, though, you know what I'm saying?

SPEAKER_17 2:36:45

Yeah. Do you owe anything on this?

SPEAKER_03 2:36:48

Yeah, about a hundred.

SPEAKER_17 2:36:50

Oh shit.

SPEAKER_03 2:36:51

Yeah. That's what kills me.

SPEAKER_17 2:36:54

Right.

SPEAKER_03 2:36:54

But I don't have to sell it. I can live here for the rest of my life.

SPEAKER_17 2:36:58

How much cash do you actually need to walk away?

SPEAKER_03 2:37:02

Well, I don't know. I'd have to move it around to see what I could get. Some more else, you know. What I'd like to do is come in there and buy me just a good little spot of land. And I go back because I bought one of them new uh uh double white um harbors one time.

SPEAKER_16 2:37:23

Uh boy, that's I mean that was an efficient son of a buck.

SPEAKER_03 2:37:29

I like to get that spot.

SPEAKER_17 2:37:36

Oh, you got a really good interest rate, don't you?

SPEAKER_03 2:37:39

Yeah, it's pretty good, yeah.

SPEAKER_17 2:37:42

3.1%?

SPEAKER_03 2:37:44

Yeah, something like that. It's not bad.

SPEAKER_17 2:37:46

Hell yeah. What's your monthly payment?

SPEAKER_03 2:37:50

Uh $1,200.

SPEAKER_17 2:37:52

Why is it so much?

SPEAKER_03 2:37:54

Uh well, I don't know. I kind of get it refinanced. I still still think about that.

SPEAKER_17 2:38:00

I thought you took a loan I thought you took a loan out for $93,000 in 2022. Is that not accurate?

SPEAKER_03 2:38:09

Uh well, I gave $70,000 for it when I bought it. I bought it in $18.

SPEAKER_17 2:38:15

Uh-huh. And then you refinance, right?

SPEAKER_03 2:38:18

Yeah. Yeah. But I didn't get uh I didn't take nothing like that. I don't even have much. I got a little bit to do some work around here on it. I can't remember that much.

unknown 2:38:30

Refinance it for.

SPEAKER_17 2:38:32

But you're positive that the monthly payment is $1,200. That includes taxes and insurance?

SPEAKER_03 2:38:37

Sure does. My social security check pays it every month.

SPEAKER_17 2:38:45

Because what I was thinking is, is like I could probably give you if you would let me take over the mortgage, I could just give you cash to walk away and let you move on. And what I would do is I would just start making the monthly payments on it and put somebody in there as a tenant and just keep it as a rental property.

SPEAKER_03 2:39:05

Oh, I can rent it, right? This this old bitch that lives across the street from me. Uh she's got a little old Mickey Mouse realtor company. And she told me she said I could put up a rent sign in that yard today, and she said tomorrow that I'd have a hundred phone calls.

SPEAKER_17 2:39:21

Right.

SPEAKER_03 2:39:22

But I can rent it for twelve hundred a month or better.

SPEAKER_17 2:39:25

Yeah, yeah. But what I would want to do is is I would want to do owner finance.

SPEAKER_03 2:39:29

So yeah, yeah.

SPEAKER_17 2:39:32

But I so I would just give you cash to just walk away. Is that something that you'd be interested in?

SPEAKER_03 2:39:38

Might be. Might be.

SPEAKER_17 2:39:39

But I need you to tell me how much cash you need.

SPEAKER_03 2:39:42

Well, I don't know how much I'm gonna have to have to ramble around, you know.

SPEAKER_17 2:39:46

How are we gonna figure that out?

SPEAKER_03 2:39:49

I don't know. I just have to start looking around.

SPEAKER_26 2:39:54

See what I can find, you know what I mean?

SPEAKER_23 2:39:57

What you need to find land?

SPEAKER_03 2:40:00

Yeah, either find me another little place to live, you know.

SPEAKER_17 2:40:04

Well, you had this listed earlier this year for 170 and you didn't get that. What were you gonna do if you got the 170?

unknown 2:40:12

Haul ass.

SPEAKER_17 2:40:14

So you would have had you would have had like 55,000 in your proper in your pocket. So 55,000 gets you to haul ass level. Well, we ain't getting to haul ass level. So what's what's right below that?

SPEAKER_03 2:40:28

Well, I ain't really sat down and really give it much thought because of what's let's think about it together.

SPEAKER_17 2:40:36

45,000. You haul an ass?

unknown 2:40:41

I don't know, I might. I might I might.

SPEAKER_17 2:40:44

The the barometer changed very quickly. We went from 55, you were out of there. 45, you're like, I don't know. What about 10?

unknown 2:40:55

What?

SPEAKER_17 2:40:56

10,000. What happens if I give you 10,000? You hang up on me, right?

SPEAKER_03 2:41:00

Yeah, sure would.

SPEAKER_17 2:41:02

Okay, so 45,000, we're thinking about it. 10, you're saying, fuck off, RJ. I'm never talking to you again. We're we're now or this is how we're thinking about it. Because honestly, if I were to do like 20 to you, I might be able to get that back from somebody that comes in and does seller finance. More than that, it's probably coming out of my pocket if we're getting upwards of that $30,000, $35,000 range. So it just really depends on like. I mean, what was the feedback when you had it listed at $170? Nobody bought it. Did they anybody make you any offers?

SPEAKER_03 2:41:46

That fucking Mark Spain's a piece of shit. He's a lying motherfucker and a nigger bitch. That son of a bitch. I never got nobody look at it, and he never offered me 10 cents. Well that's false advertising, son of a bitch. I'll tell you that.

SPEAKER_17 2:42:03

How long did he have it listed?

SPEAKER_03 2:42:05

About 90 days or better. Never made me have a cash offer like he says he does, you know.

SPEAKER_17 2:42:13

That was Mark Spain?

SPEAKER_03 2:42:15

Yeah.

SPEAKER_17 2:42:16

Man, you should have known just by looking at his face on the billboard.

unknown 2:42:21

Well, yeah, I know.

SPEAKER_17 2:42:23

That that dude, when I look at him, I'm like, guaranteed, he has slept with 15 other dudes' wives.

SPEAKER_03 2:42:32

Oh, I'm sure he is.

SPEAKER_17 2:42:34

Guaranteed.

SPEAKER_03 2:42:35

I'll be catches a fucking syphilis.

SPEAKER_17 2:42:38

Me too. The clap. Like give it to him. Some big you know he's got billboards all over the fucking United States.

SPEAKER_03 2:42:47

Oh, I say them everywhere. I drive a truck for a living. I say the motherfuckers everywhere, dude.

SPEAKER_17 2:42:53

Yep. Every time you see him now, just think to yourself, guaranteed he has to put cream on his dick every morning.

SPEAKER_03 2:43:00

Oh, I wouldn't have to have that.

SPEAKER_17 2:43:02

Guaranteed. He ain't got one. That's right. He ain't got a dick. That's exactly it.

SPEAKER_03 2:43:10

That's so much has to squat the piss. So man.

SPEAKER_17 2:43:21

Hey, listen, James. You're you're my favorite person I've talked to today.

SPEAKER_03 2:43:27

Well, then I guess I made somebody tell you that.

SPEAKER_17 2:43:30

Yeah, you did. Uh so listen, here's the thing. I I do need you to figure out how much money you need to walk away from this. Because if it was listed for 170, I will tell you this. They did, if there was an offer that was presented, that was made, they had to present that to you. So if they didn't do that, then that means you didn't get any offers. So did they did they ever present an offer to you?

unknown 2:43:58

No, they never did.

SPEAKER_17 2:44:00

Okay. So we know we're not getting that number or close to that number. That's my question to you is what number makes this acceptable to you to walk away from?

SPEAKER_03 2:44:13

Well, I can't tell you until I go snooping around a little bit and see what I can find down south.

SPEAKER_17 2:44:18

All right. How much time do you need to do that?

SPEAKER_03 2:44:20

I called a realtor the other day to ask if he could look and see if he can find me a good little spot of land down there somewhere, you know. I had to I could talk about Balder, West and Sanger. When I bought that place over there, I damn I wish I'd get that land for.

SPEAKER_17 2:44:39

Listen, I got land. I mean, if you if you really don't have anywhere to go, I got land in Colorado that you could go stay on. I got land in North Carolina you could go stay on.

SPEAKER_03 2:44:50

I wouldn't move to Colorado if you give me land. That's a miserable son of a bitch. I hate that fucking Colorado.

SPEAKER_17 2:44:58

Is it because of the allergies or because of the politicians?

SPEAKER_03 2:45:01

Politicians and weather.

SPEAKER_17 2:45:04

Yeah. That makes sense. I probably should have known better. I mean, I am staring at the front of your house.

SPEAKER_03 2:45:11

Yeah, that's a bunch of radical son of a bitches there, bulls, I'm telling you.

SPEAKER_17 2:45:15

Yeah. How do you feel about California?

SPEAKER_03 2:45:17

California's beautiful. I used to go out there every week.

SPEAKER_17 2:45:20

Holy shit. Of all the things that I didn't think you were gonna not get upset about, you didn't get upset about California.

SPEAKER_03 2:45:26

Well, that Well, I I'm not done yet.

SPEAKER_17 2:45:29

Oh, yeah.

SPEAKER_03 2:45:30

It's a beautiful place. I was out there every week for 14 years. Every week. I'm probably making California products back there. That was for seven time wanted. I was out there every week, but it's beautiful. But I can't afford to live with that. Besides that, Newsom's are fucking guns.

SPEAKER_23 2:46:02

Exactly.

SPEAKER_03 2:46:03

That's a fucking third that was asked out of Joe Biden's asshole. And Lil.

SPEAKER_17 2:46:11

Imagine if Mark Spain and and Gavin Newsom made a baby together.

SPEAKER_03 2:46:16

Oh my god. Well, I'll tell you what it'd be. It'd be the the baby died and the afterbirth left.

unknown 2:46:25

That's what that would be.

SPEAKER_17 2:46:28

Okay. I need you to figure out how much money you need to do this. So how long do you need to figure that out?

SPEAKER_03 2:46:37

I don't know. Let me give me about a week or so. Let me make some phone calls.

SPEAKER_17 2:46:41

Okay. Well let's do that, and uh, I'll I'll call you here probably next Friday. Okay.

SPEAKER_03 2:46:48

Yeah, give me a little while, sorry.

SPEAKER_17 2:46:52

All right, James. I appreciate you.

SPEAKER_03 2:46:53

All right, my man.

SPEAKER_19 2:46:54

All right, bye-bye.

Stats, Lessons, And Next Live Plan

SPEAKER_19 2:46:58

I'm calling James. I can do better than that.

SPEAKER_14 2:47:04

You gonna get hung up on again?

SPEAKER_19 2:47:07

No, I'm closing it this time.

SPEAKER_17 2:47:14

I'm gonna laugh so hard if he gets mad at you.

SPEAKER_14 2:47:25

This guy said he's a writer for South Park.

SPEAKER_19 2:47:33

Oh, he might not take my call, but I would think this guy would want to talk to me again.

SPEAKER_18 2:47:38

You know what I mean?

SPEAKER_17 2:47:41

Oh man. That was that was one of my favorite seller calls of all time.

SPEAKER_19 2:47:49

You did such a good job, you know, getting on his level. You know?

SPEAKER_14 2:47:57

The moment he started going off on Mark's pain. That's amazing.

SPEAKER_18 2:48:12

Okay, here we go. Oh, he won't. Oh no, but he's he's done with you. I don't know if he's blocked what he's doing. I'm gonna piss him off so bad. Oh, come on now.

SPEAKER_08 2:48:37

Your call has been forwarded to voicemail. The person you're trying to reach.

SPEAKER_19 2:48:41

Alright, he won't come, he won't answer. I'm gonna try one more time just because if I can get him back on the phone, this would be so great.

SPEAKER_17 2:48:47

He said Mark Spain pisses sitting down.

SPEAKER_10 2:49:00

Your call has been full.

SPEAKER_18 2:49:01

Yeah, he won't talk to me.

SPEAKER_17 2:49:03

Could you imagine just sitting down and hanging out with that guy? Just a crazy guy that he would say. Yeah. I I'm barely certain that that's gonna be me when I'm an old man. Just anything that's did you see my comment?

SPEAKER_19 2:49:21

Did you see my comment?

SPEAKER_17 2:49:23

No way.

SPEAKER_18 2:49:25

Where is it?

SPEAKER_17 2:49:27

I'm scrolling. There were so many comments while that was happening. RJ's getting canceled today.

SPEAKER_14 2:49:36

He needs one of its guys. Oh man.

SPEAKER_17 2:49:46

Danny Forrest said, can we invite him to host Element 22 this year?

SPEAKER_18 2:49:53

The MC, let him MC. Oh man. Oh man.

SPEAKER_17 2:49:58

That was that was wild. There you go. That's wild. You're gonna start saying it all the time, man. Oh, dude. I've been hanging around you too much. It's rubbing out. I know, right? It's these Tuesdays. All right, man. Let's let's wrap this up. Um I listen, today was one of the tougher days. Yeah, our connection rate wasn't horrible. Um, we ended up talking to one, two, three, four, five, six, seven, eight, nine, ten. We talked to ten sellers out of thirty, so thirty-three percent connection rate, but out of the ten, we did get a signed contract, so one for ten. Um, I am I'm really curious if if this being right after the fourth of July really impacted the connection rate. Somebody did mention that the World Cup is going on right now. I mean, Argentina did play right before we went live. Switzerland and uh Colombia are playing right now. I don't know if that plays a big impact on it. I think it's probably more people just either being on vacation from the fourth or coming back and just not being available. Because this is this is one of the the lower connection rates that we've had um recently, but still I look at it and I go, even with as rough as it was, that was two and a half hours really of us working, and we still got a signed contract. Um you I well, you had uh at least one that you're following up on, right? What was which one was it? That's the one in Ohio. Then um yeah, in Ohio. Oh yeah, you're you're basically getting a signed contract. We'll see.

SPEAKER_19 2:51:49

I mean, he's gotta go out there and look at it and stuff, but that's the lady with no with no email. Right. And you know what, you know, like some days are some days are hard in this business. I mean, I've had days like this all the time where it just feels like everything's against me, no one's answering, or no one's no one's motivated. And you know, like it the bad days make the good days great, the the hard calls make the contracts great, and it's just all part of the game, you know. So I still think like even even though you and I usually have higher success with contracts, there were still some great calls, and I think if people took the time to listen to this, there's some great learning going on there. I mean, you and I both had really great calls where we demonstrated how to walk a seller through full transparency on what we're doing. Yep, and that's about that's valuable insight. I I wish more people could learn how to talk to sellers in that fashion, you know, maybe not exactly that way because those were unique to those situations, but the idea of like telling them your numbers, telling them what you're doing, telling them how you're looking at it, what the plan is, what the next steps are, how we're gonna how we make money with this, you know, that's that's the move I think we need to see more of in in this industry, moving away from all these like sale tactics and stuff, and more into just like just be real with people.

SPEAKER_17 2:53:09

But it but this is even with everything that's negative about some of the stuff that we've talked about with the regulations and things like that. I mean, here we are in 2026, and we say a bad day is the fact that we place 30 dials taught to 10 sellers and have a one-signed contract with a very strong potential to get a second. I mean, we have a buyer going to the property tomorrow to get the contract signed. Yeah, I mean as close to getting uh two signed contracts. I mean, that's a that's two for ten. Yeah, I mean, I I even if you count the the no answers, that would be one out of 15. I mean, it's we'll we'll take those bad days right there. And and I've I've seen some some people lately, um, specifically inside the TU group complaining about lead quality, not specific one company. Every company's had different complaints. Um, I think maybe sometimes you just got to take a step back and look at it from a grander scale. Because I I think Jerry and I both, while we're in this moment, would sit there and say, Oh, today was kind of tough. And then when you step back and you go one out of 15, technically two for 10, that's really good. Really good on our conversations. Um, every PBL company would would die for it. So uh love, love. I and also I also want to say this shout out to property leads. Jerry, I was giving you a hard time earlier. Property leads actually reached out this morning, they wanted to go live. They're like, hey, uh, can RJ go live? Can Jerry go live? You reached out, it was a perfect storm. These companies are reaching out to us, they're wanting to showcase their product, and they don't have to do that. Every single time they do this, this is putting their their product out there to be judged over the course of a two and a half hour span to every call. I mean, it literally gets judged based off of a handful of sellers answering the call.

SPEAKER_19 2:55:21

That's why there's so much, there's so much timing and nuance, and like there's so much out of their control to be that vulnerable live. That's that's a risk that they're willing to take, which is awesome. Absolutely.

SPEAKER_17 2:55:34

And uh, we appreciate them. So, James, Andy, and the whole property leads team. We appreciate you guys uh for providing us with the leads and uh showcasing this. And uh, Jerry, just appreciate you hopping on here. I think the feedback early on was is that we do need to do our live about the state breakdown, the regulations and all that pretty soon. So stay tuned for that, guys. We'll put that together. If it's not next Tuesday, it'll be over the next couple weeks. Are you free next Tuesday? Yes. All right, I guess we're gonna run with this, everybody. RJ and Jerry's excellent adventures. You're not even looking, you look down. What there it is. Jeez.

SPEAKER_19 2:56:18

Now, if someone if someone doesn't know what that is, that tells how young they are.

SPEAKER_17 2:56:23

Right. We're gonna have to clean that up a little bit. My head is a little bit big for my body. I mean, I I look like I have the largest head ever. I do have a large head, but we're gonna have to fix that. Uh Danny says he deserves a raise. Danny, you haven't even gotten a paycheck yet, so no, we're not giving you a raise. You haven't even gotten one check yet. So um, all right, Jerry. We'll see you uh next Tuesday, okay? All right, appreciate you guys. All right, see y'all. Thank you.