The Titanium Vault hosted by RJ Bates III
RJ Bates III, affectionately referred to as the Viking Wizard by his students, started his real estate investing career in 2014 after attending a real estate education program that put him $65,000 in debt. RJ contracted his first deal he found on the MLS and wholesaled it for a $7,500 assignment fee. That was the end of his former life and the beginning of his venture into becoming a real estate investor. Since that moment, RJ has become an influential figurehead in the real estate investing industry. He has successfully purchased and sold over 2,000 properties all across the USA including wholesale deals, rehabs, rentals, owner finances and short term rentals. One of his passions is being the host of The Titanium Vault Podcast where he interviews the top real estate investors. He has won back to back Closers Olympics earning him the reputation as the King Closer! Finally, RJ and Cassi DeHaas, his partner, have started their education platform called Titanium University.
The Titanium Vault hosted by RJ Bates III
Seller Signed The Contract THEN Reveals Crime Scene!
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Cold Open Crime Scene Tease
SPEAKER_03I had a dude that was living in the driveway in his camp or and he uh died here a couple of days ago and they're still they're still doing the autopsy and that's still a crime scene out there, I guess, or whatever you want to call it. You know what I'm saying?
SPEAKER_01Okay, you didn't kill him, right?
Setting Price And Motivation
SPEAKER_01Hi, is Mart there?
SPEAKER_03Yeah, top to him.
SPEAKER_01Hey Mark, this is RJ Bates calling about your property there on Prospect Street. Looked like you had uh filled out a form on my website saying you needed to sell that property. Is that correct?
unknownYeah.
SPEAKER_01Fantastic. Well, how much you looking to get for it?
SPEAKER_03Um, I'd say 35.
SPEAKER_01$35?
SPEAKER_03$35,000.
SPEAKER_01Man, you never know. Sometimes I say that, and it is $35. Yeah. Let's go. All right. Well, tell me a little bit about what you got going on.
SPEAKER_03Uh I'm behind on my taxes uh about two years, and I just want to get out of the I just want to get out of Illinois. I want to go back to Iowa. That's where I came from.
SPEAKER_01What part of Iowa?
SPEAKER_03Uh over there by Quad Cities.
SPEAKER_01Quad Cities.
SPEAKER_03Yeah, I'm uh I'm in Central Lake and I just uh bought this property just uh yeah, yeah. So you know what I'm saying? I brought this property here and uh everything, everything's too high over here in Illinois for me. I don't make that much money a month anyway.
SPEAKER_01All right, well let's see here. What what caused you to fall behind on the taxes?
SPEAKER_02About two years.
SPEAKER_01Yeah, what I mean I know what caused it, just didn't make enough money or more than what most people pay, you know. I see that yeah.
SPEAKER_03I paid sixty-nine for it. I bought it about seven years, eight years ago.
SPEAKER_01I know. Where where did thirty five why'd you come up with thirty-five thousand? 'Cause I went out of it. Don't get it, man. You want to get the hell out of there. All right.
SPEAKER_03Fuck right. I'm gonna get I wanna fucking shoot over to the Iowa side. That's where all my friends are, that's where my mom is. Bum fuck Egypt. Out in them, you know, out the saying dudes out over here in Cambridge. You know, it's one of them places where if you weren't born and raised here, you're in the inside. You know what I'm saying?
SPEAKER_01Okay. That's what it is. So the 35,000 though, that that would be enough to cover the back taxes and get you some money, right?
SPEAKER_03Right, right. I think it's only like I need to be like four grand for the taxes. It was like 2,200 each year.
SPEAKER_01Okay. Well, talk to me a little bit about the property itself.
SPEAKER_03I want to uh uh roof on this on this house. I got a fencing backyard, needs a little work on fencing, but it goes around, it's like 150 by 100 in the back there. Uh got wooden floors in here. Just needs uh needs an update. You know what I'm saying?
SPEAKER_01Just like cosmetic updates?
SPEAKER_03Yeah, just cosmetic updates.
SPEAKER_01Okay. And I just want to make sure I'm looking at the right one. It's the the two-story building with the the shutters, it's yellow.
SPEAKER_03Yeah, it's yellow. Yellowish.
SPEAKER_01Yellow, yellowish.
SPEAKER_03Yeah.
SPEAKER_01Okay.
SPEAKER_03404 North Prospect.
SPEAKER_01Yeah, that's it. And it's got the like maroon shutters.
SPEAKER_03Yeah, yeah.
SPEAKER_01That's a cute little house.
SPEAKER_03Yeah, it's got three uh three uh tier deck in the back.
SPEAKER_00Man.
SPEAKER_03I don't understand. Illinois were eight and neat. Everything's high over here. All my people, all my friends, and uh everybody live over in Iowa.
SPEAKER_01How uh how fast do you want to get out?
SPEAKER_03Uh probably within 30 days or less.
SPEAKER_01Perfect.
SPEAKER_03Take it much. I bought new stove, new uh refrigerator, there's washer and dryer back here and the and stuff, you know what I'm saying? So I ain't gonna take it much with me.
SPEAKER_01Are you gonna are you gonna be leaving a lot?
SPEAKER_02Probably I'll probably be leaving a lot of stuff, yeah.
SPEAKER_01Like, how many dumpsters worth of stuff were we talking
Property Condition And What Stays
SPEAKER_01about?
SPEAKER_02Probably one.
SPEAKER_01One.
SPEAKER_03Yeah, because uh uh furniture, there's a built-in uh thing in that you're uh like uh I don't know, I don't know how you can say that.
SPEAKER_01Yeah, but you're like you're you're taking like clothes and furniture and all that stuff, right?
SPEAKER_03Right, I'm taking my clothes and leaving uh yeah, there ain't that much furniture in here.
SPEAKER_01Okay. Because sometimes people say, hey, I'm gonna leave some stuff behind and they got a lot of stuff.
SPEAKER_03Right, right, right. No, I'm uh yeah, it's gonna take me and my dog to get three dogs. Uh there's hardwood floors in down there, yeah. Uh hardwood floors on in the house. There's a mudroom, there's a basement, there's the uh detached garage. Um see what else. That's about it. I mean, it's like three bedrooms and a half a bath upstairs.
SPEAKER_01Well, say I come in and I pay the the closing costs, the no realtor commissions, anything like that. The only thing that you would have to pay is the the back taxes.
SPEAKER_03Right.
SPEAKER_01What do you think is the best number you could do for me?
SPEAKER_0335.
SPEAKER_02Buy it for 69. You ain't gonna get any cheaper up here. I'd probably be the cheapest house you buy it.
SPEAKER_01Well, you knew what you wanted. Let's do it. I like it. Alright. Uh let me see here. I've got your email.
SPEAKER_02Alright, right.
SPEAKER_03I got all the I got all the uh paperwork right here in the house. All I have to do is sign it over to you, or we make a contract or whatever. I'll pay the taxes.
SPEAKER_01So the way it works is I'm gonna send you the contract. You're gonna sign the contract, I'll email it to you, and then I'm gonna open up title with uh closing attorney. They'll figure out how much is owed on those back taxes, make sure there's no other liens or anything. And then at closing. Right. And then at closing, when when we pay for the house, it'll pay the taxes, and then they'll just cut you a check for the difference.
unknownAll right.
SPEAKER_01So you don't even have to you don't even technically have to pay for them. It's gonna come out of the proceeds.
SPEAKER_03Right, right, right, right, right. But I I you're getting a good deal. I mean, you can turn this, well, you probably turn this into like a hundred thousand dollar house with you know maybe 20, 20 grand on top of what you pay for.
SPEAKER_01That's the goal.
Closing Costs, Taxes, And Paperwork
SPEAKER_03Yeah, yeah, I know. My brother flips houses, dude.
SPEAKER_01There you go. Where does he flip houses? Down here in Missouri. No way. What part of Missouri?
SPEAKER_03Uh upper upper part.
SPEAKER_01Is he ever looking for deals?
SPEAKER_03Sometimes. I haven't talked to him in about a year or so, so I couldn't really say. I haven't talked to him in a year, but I know he's down there flipping out.
unknownOh, yeah. Yeah.
SPEAKER_03He's been down here ever since, so he must be doing good.
SPEAKER_01Yeah.
SPEAKER_03Alright, so I'm gonna put a good stove, I'm leaving a good dishwasher, I'm leaving a good refrigerator, and I'm leaving a uh uh good uh uh washer and dryer.
SPEAKER_01I love it. I appreciate it. So I'm gonna put a uh closing date. Yeah, it's like seven, eight years ago. So okay. I'm gonna put a closing date of September 4th. Does that work?
SPEAKER_03Yeah, works. I can get out of here in less than a week, dude.
SPEAKER_01Yeah, yeah. So it's on or before that date. So if we if we can close earlier, we will, okay?
SPEAKER_03All right, yeah. I I'm gonna chill, yeah. It ain't gonna take me long to uh get out of here.
SPEAKER_01I gotcha. Do you want me to write up this contract now and send it over to you?
SPEAKER_03Yeah, yeah. We're doing this. We're doing this.
SPEAKER_01Let's do it.
SPEAKER_03Wow. Like I said, this is uh the biggest lot here. It's like on three-quarters of an acre.
SPEAKER_01I see that.
SPEAKER_03All right, uh I think I think you're getting a good deal because if my house was uh up to date, it would be like a hundred and nine a hundred and twenty thousand dollar home.
SPEAKER_01You want me to send you pictures when it's all over with? You want me to send you pictures when it's all fixed up? Man, you're like the best seller I'm gonna talk to all day. You know that?
SPEAKER_03Why is that? Why is that? Because I'm honest.
SPEAKER_01Well, yeah, you're honest, and you're just a cool guy.
SPEAKER_03I don't hate, I can't pull no punches on you, dude. I want to get the fuck out of Illinois. I hate Illinois.
SPEAKER_01What do you hate about it so much? Because I've been up there and I actually liked it.
SPEAKER_03Well, it's taxes, really, and it's uh um like it's uh I want to say I call it like deliverance, you know. See everybody's kind of like buddy buddy with each other and feed from here and kind of you know, but I'm disabled, so everybody, you know, they help try to help me out and stuff, but I don't want that, I don't want their help, you know what I'm saying? I just want to be on my own, you know what I'm saying?
unknownI like to do stuff on my own.
Life Pressure: Costs And Independence
unknownI don't need no help. Right.
SPEAKER_03Now it's from a work accident. I used to pour concrete. I can still do most of the shit that they said I couldn't do. There fucking a bunch of shit. But anyway, uh now I just want to go back to where it's like uh I don't know, an hour drive from where all my friends and stuff live. You know what I'm saying?
SPEAKER_00Mm-hmm.
SPEAKER_03So, you know, if I go over and see them, I got a dog, I got three dogs. And if I go over and see them, I have to, you know, go there and maybe stay a couple hours and then come back home, you know. And nobody likes to come out this way anyway. You know, so yeah.
SPEAKER_01All right, well, give me just a few more seconds here. I'm almost done writing this thing up.
SPEAKER_03Because uh, you know, the cost of gas, I'm paying a dollar more a gallon in gas than my friends are over in Iowa. Uh cigarettes is almost like ten bucks over here, it's like four, five, six bucks over in Iowa. You know, stuff like that. It's just little stuff like that. See, I don't have that much money a month to burn. You know what I'm saying?
SPEAKER_01For a pack of cigarettes?
SPEAKER_03Yeah. You're paying, we're paying a dollar more than what Iowa pays for a gallon of gas. You know what I'm saying? Or probably even on uh the water and electricity, we're kind of like even on that, but still, you know.
SPEAKER_01That's crazy.
SPEAKER_03I know, I only make $1,500 a month.
SPEAKER_01What do you do?
SPEAKER_03I got settlement and I spent that money getting this place and a few other things. And uh you know, I got the fence all the way around the yard back there. Yeah, I just you know, I just went out. I just went out, it's just too much for me. I'm one person, you know, and I only got one leg. And yeah, it's just this house is just too much for me. I can't keep up with it.
SPEAKER_01What happened with your back in?
SPEAKER_03I put a new roof on the back end cost me two grand. You know?
SPEAKER_01Yeah.
SPEAKER_03So, you know, uh what uh what happened with your leg? I was pouring concrete and these idiots that only tell me pulls and piles holding damn fucking street up in the air. I was 12 feet down on the ground with a big old heavy ass tamper. Uh big God yelled at me and I I didn't hear him, but I looked out the side of my eye, I could see the road had cracked, it was sliding down towards me. I got my one leg out of the way, but I couldn't get the goddamn my left one out. And it got pinned between the tamper and uh the road. And I heard every bone in my leg crack. Shit and uh and uh so uh I told I told Ty that was watching,
Concrete Accident And Rehab Journey
SPEAKER_03go get the supervisor and stuff and tell him what's happening. Listen, yeah, and uh some of the guys came down and I told Ty, take that concrete off me. As soon as he did, the kids put the tourniquet on me and save my life because I would out bled to death, you know, before the uh before damn fire department got there. I was out for two, two, three days. My mom said they um called it for me twice. So I don't know, that's what she said. I don't know too much about what happened the first couple days without doubt. But I know it uh it took me uh took me a month before they amputated my leg and I got good, and then it took me uh another half a month to show them idiots that I can live on my own, and then I had to take a physical therapy class for four times a week for six months, and then the last six months it was three days a week, and then they said you're good.
SPEAKER_01Damn, that's crazy, man. I'm glad you're still here. You've you've been a hell of a conversation. I'm looking forward to doing this deal with you. Can you uh can you pull open your email for me?
SPEAKER_03Yeah, I ain't bullshitting around. I'm just I don't want uh there's one out of Illinois. I've been saying that for almost six months now. Yeah, I gotcha.
SPEAKER_01Well, you should be able to open up that contract.
SPEAKER_02Gotcha, gotcha. Oh, I see.
SPEAKER_00Yeah.
SPEAKER_02There you go. There you go.
SPEAKER_01Waiting, waiting.
Contract Sent And Closing Timeline
SPEAKER_01There it is. All right. So what's gonna happen here is we'll send this over to the title company, we'll get that process started. My team will reach out to you and they'll they'll talk to you about some of the things that we're gonna need to do, coming out and see the property and whatnot over the next couple of days. Um, and then we'll get this done on September 5th, all right?
SPEAKER_03All right, all right. Uh I had a dude that was living in the driveway in his camper, and he uh died here a couple of days ago, and they're still they're still doing the autopsy, and that's still a crime scene out there, I guess, or whatever you want to call it. You know what I'm saying?
SPEAKER_01Okay, you didn't kill him, right?
SPEAKER_03He was a friend of mine, and he was he was old, he was like 63, he had diabetes, he had black mold in his lungs, he just gave up on life.
SPEAKER_00You know what I'm saying?
SPEAKER_03And uh
Crime Scene Returns And Final Notes
SPEAKER_03uh the coroner's been out here, you know, they've been out here, and the police been out here, and I you know, they told me not to move the camper or his or his vehicle, so I don't, you know, I just I'm just saying that, you know. Until they you know haul it or whatever they do.
SPEAKER_01Okay, I'll be out there.
SPEAKER_03So when you come, when you come in, you know, that ain't my camper thing over there that uh you cannot kiss.
SPEAKER_01So we'll we'll figure it out. We'll figure it out. So I think you guys like it.
SPEAKER_03I you know, I'll eat the lawnmower too. I got John Deere lawnmower, I'll eat Ryder. Can you have that too?
SPEAKER_01Okay, well we'll we'll see if we want the John Deere. We'll see. Sometime we'll see.
unknownEverybody around here and drawing John Deere anyway.
SPEAKER_01Yeah. All right, Mark. Well, I appreciate you, man. We'll get this process started. Yeah, we will. We'll give you a call here shortly, okay?
SPEAKER_03All right, all right.
SPEAKER_01Thanks, man. Bye.
SPEAKER_03Yeah, bye.
SPEAKER_01Not expecting that at the end. Hey, there's a crime scene in the driveway. Don't worry about it though.