These Wholesalers CAN'T Be Serious! | The King Closer Reacts

Grab the King Closer Blueprint: My Step by Step Sales Process for closing over 2,000 deals (Only $27): https://www.titaniumu.com/blueprint

Want to work directly with me to close more deals? Go Here: https://www.titaniumu.com
Want the Closer’s Formula sales process I’ve used to close 2,000+ deals (FREE) Go Here: https://www.kingclosersformula.com/close


If you’re new to my channel my name is RJ Bates III. Myself and my partner Cassi DeHaas are the founders of Titanium Investments.

We are nationwide virtual wholesalers and on this channel we share EVERYTHING that we do inside our business. So if you’re looking to close more deals - at higher assignments - anywhere in the country… You’re in the right place.

Who is Titanium Investments and What Have We Accomplished?

Over 10 years in the real estate investing business
Closed deals in all 50 states
​Owned rentals in 12 states
​Flipped houses in 11 states
​Closed on over 2,000 properties
​125 contracts in 50 days (all live on YouTube)
​Back to back Closers Olympics Champion
Trained thousands of wholesalers to close more deals

_________________________________

With over 4,000 Videos, this is the #1 channel on YouTube for all things Virtual Wholesaling. SUBSCRIBE NOW!    https://www.youtube.com/@RJBatesIII

_________________________________

RESOURCES FOR YOU:

If you want my team and I to walk you through how to build or scale your virtual wholesaling business from A to Z, click here to learn more about Titanium University: https://www.titaniumu.com

(FREE) If you want to learn how to close deals just like me, The King Closer, then download the free King Closer Formula PDF: https://www.kingclosersformula.com/close

Grab Titanium Profits: Our exact system we use to comp and underwrite deals in only 4 minutes. (Only $99) https://www.kingclosersformula.com/titaniumprofits

Transcript

Welcome And What We React To

SPEAKER_05 0:05

What's going on, everybody? Welcome to the King Closer Reacts. I am the King Closer RJ Base III, and this is the series where, well, sometimes I watch a bunch of wholesaling videos and normally disagree with them, but every now and then I end up watching a bunch of Alex or Mosey or some dad bot videos. I don't know. So let's get into the first video and see what we got in store today.

Speed First Offer And Podio Demo

SPEAKER_02 0:26

Let's be real, the fastest offer wins. That's the whole game. They want a good offer, but they want it quickly. Once I made speed, my advantage in wholesaling instead of weakness, everything changed for me. And this is how I did that. By the way, all you need is podio. Make sure you have the propera integration. Go up here to add lead. Paste in the address, select the property type, put in the bedrooms, bathrooms, square feet, put in your build. Then you can put the comp radius. Now we're gonna do this. We're gonna run the ARV with Propera. Put in the name of the seller and press run ARV. Once you do that, press save lead. Boom, there we go. We got the ARV generated from Propera. 469,000 gives us the summary. We got 12 comps within one mile. And it breaks down everything here for us as well. We can just go straight to Propera, and there it is right there. We can click on it and it breaks down everything for us ARV, comp sales, everything here. Market price, top dollar, quick sales, everything breaks it all down for us. Perfect. And if we want to export into a PDF, we can right there.

Auto ARV Numbers Are Not Truth

SPEAKER_05 1:28

That was just him promoting like his little old school podio look. It tells me an ARV. Brother, you know that that already existed, right? You just take an address, drop it in the prop stream, and it'll give you that number. It'll just tell you right there, 469. So what? Who gives a shit? Number's bullshit, anyways. We ain't paying attention to that number. You got to get in there and actually understand what the fuck you're looking at. Because just because the after-repair value is 469, that doesn't mean shit unless it's 2017 and you're still going off at 70% of ARV minus repairs minus your wholesale fee, which that's guaranteed costing you tens of thousands, if not hundreds of thousands of dollars, because you don't understand why the deal was a deal. You're just going at maximum property value, throwing in a rehab number, and then minusing your assignment fee. What if that 469 would have made more sense to lower the value down to 425, have a much smaller rehab budget, and then that would have made more sense for the seller and for you. Oh, and for your end buyer, because I don't know if you know this or not, but majority of in buyers that are repeatable good buyers, they actually don't like doing huge rehabs and maximizing the value of the property. They actually like the smooth, easy rehabs lower the property value because that lowers their days on market. That's what they actually prefer to do. So this, I mean, I agree with what he was saying earlier. Yeah, sometimes being the first one to the seller is an advantage and it's what can lead to getting a contract. But the whole, the whole, this whole thing of like, we don't need to understand the comps. We can just have AI or a system do it for us. That's just amateur hour, and you just not wanting to have skills.

Big Deal Bragging Gets Tested

SPEAKER_04 3:35

Guys, y'all need to stop chasing these small deals in real estate. I speak to people often and they're like, hey, you know, I'm doing this 5K deal, 10K deal, which is good and all. You know, that's great, but that's not gonna move the needle for you. You might as well go get a job or a salary paying job, you know. Because what happens when that 5 or 10K deal ends up not closing? Because the seller had a lien on the property or something, anything can happen at the closing table. I've had a deal fall out the day before closing, you know, and bam, there goes your 5 or 10k month, you know. So we personally, we don't even chase the deal if the seller is not at least willing to take $30,000. We put a $60,000 cushion in all of our deals. If you want to work, you gotta actually talk to the seller.

SPEAKER_06 4:43

Oh my god. Do I even have to give a response? Fuck it. We're a 10x shit. 100,000 on every single deal. Fuck them. Just fuck them in the ass, man. Like, what the fuck are we talking about?

SPEAKER_05 5:01

Man, listen, yesterday I went live and a lead comes in in Indiana and this seller, her asking price is $25,000. The the price is good pretty good. She bought the house like years ago for $15,000. She put a ton of work into it. She just realized she was in over her head. She she didn't buy it at a good price. And so she's like, I'm never gonna be able to finish this job. I don't have enough money. Like, I need to, I need to get out of this. And it was she was gonna live in it. This is she's not an investor, she was gonna be an owner occupant, and so she's like, if I could just get 25,000, and mind you, a year ago she had this listed on the market for 80,000, it dropped it all the way down to 65,000. Now she's asking 25,000. And so I needed it a little bit lower because I was thinking like we might be able to dispo this somewhere in the 20s, and I was right. So at 4 p.m. or no, 3 p.m. I'm sorry, 3 p.m. Central, we get a signed contract at $22,000. Less than four hours later, we had a signed assignment at $29,000. So I'm making $7,000. So he tells me I shouldn't do this deal. That lead cost me $75. I'm going to make a $7,000 assignment fee on it. It took me a total of 25 minutes on the phone with her, one phone call to a known buyer, and the deal's done. I mean, yeah, we've got to open title and go through the TC process and just make sure, but this is a repeatable buyer. Um, how would I have built in $30,000 there because I assigned it at $29,000? Should I have told her she should have written me a check for $1,000? Oh, we just shouldn't help those homeowners out. That's what this advice is. We should only be going after people that have $300,000 houses that they need to sell. Again, just $10 that shit, bro. Just go get people that only have $3 million houses. Fuck it. $30 million houses. Why only $60,000? What happens if your $60,000 deal falls apart at the last minute? What if it has a $61,000 lien? What happens to your month then, since apparently you're only doing one deal a month? I mean, I did one deal in four hours from lead to assignment. This is just I dumb.

Wholesaling Is Simple Not Easy

SPEAKER_00 7:26

Most wholesalers go broke before closing their first deal because they don't know what they're doing. They get into wholesaling in a situation where they don't know the type of offers to get, the type of deals to make, they have to learn a brand new skill. Very oftentimes someone gets into wholesaling when their back is against the wall. So they don't even give themselves enough time to learn the new industry and make the proper gains and advancements they need to make. There is a sentiment out there with all the media and content going around that wholesaling is very easy and you can make a ton of money working for yourself. The latter of that is true. You can make a ton of money working for yourself, but it being easy is no way, shape, or form true. It is.

SPEAKER_05 8:10

I am barely certain that about a year and a half ago, we had this exact same person on King Closer Reacts, and he almost said the exact same thing. Meaning he clearly watches my channel and understands that repetition is the key to success. He just said, we're just gonna keep repeating it. Wholesaling is not easy, it is simple, but it's not easy. You get your ass kicked every single day, and he's right. He is right. I mean, it is it's there's no barrier to entry. Anyone can just pick the phone up and start calling people and making offers on their property. That you don't really have to have any skills to be able to do that. There's no regulations really to hey, you have to do this before you become a wholesaler, except in Oregon. So yeah, it is really easy to get into, but most people do fail. And going all the way back to well, the repetition thing, 2024, I said it. Wholesaling is a war of attrition. 80% of people that get into wholesaling fail in year one. That's just a fact.

More Leads Reveal Broken Systems

SPEAKER_03 9:27

Here's the reality more leads don't fix broken systems. In fact, more leads usually expose what's broken in your business, right? So this is one of the things when I when new students come on that have a business, one of the first things we do in an audit is take a look at their leads. And they always say, I need more leads, I need more leads. The reality is they don't have need more leads, they actually need to have less leads and improve the systems around their leads before they have the ability to do more leads. Because when you have more leads, it exposes all the problems.

SPEAKER_05 10:05

I think that's a world record for saying leads the most times inside of a one-minute short. Um, but I do agree with what he's saying to a certain extent. There needs to be a process in how leads are managed. I'm very big on this. There's two things that can kill a wholesale company too many old leads, not enough new leads. You have to be killing leads every single day. You've got to be getting in contact with them. Wholesalers want to hoard their leads, they want to hold on to them forever and ever because they're like, hey, I spent money on generating that lead. And so, yeah, they don't want to accept my offer today, so I'm gonna hold on to it. But the issue is that we end up with thousands of leads inside of our CRM and they never truly get worked appropriately, and we don't know where our money can come from. And so there does need to be a process of how new leads are coming in daily, old leads are going out, signed contracts are coming in. That's there's a sweet spot there for each acquisitions manager. For some people, it's like, hey, I need 50 leads. For some people, it can be upwards of 200 to 300 that they can navigate at a time. That's really just up to your time availability and your bandwidth, and then also the process, the system that you're using inside of your business.

The Slow Ramp From $800

SPEAKER_01 11:21

There was a company that did real estate wholesaling. It's a new company. They're actually the first company to do it here in Atlanta before it really breaking off this back in 2010. But I remember the first six months, I was I made $800. And I asked my dad, I was like, I'm gonna like he's like, if you do this job, just work your hardest for six months. I remember I was working from eight to eight for six months, made my first check, eight hundred dollars, and I was like, okay, once this closing happens, I'm gonna quit. And that closing, when I was waiting for the closing, I got another closing call-up, another $1,200. I was like, cool, I'm gonna quit after this. Then I had an elderly gentleman that was telling me his locality's properties, and he told me three properties, and I was like, okay, cool, I'm gonna ride this out. And then I think I was making like $3K a month, then four, and then six, and then eight, and then ten, and it just never stopped since.

SPEAKER_05 12:14

I don't think that they were the first wholesaler in Atlanta, Georgia in 2010. Just gonna throw that out there. Pretty sure wholesaling has been around like forever to some degree, but anyways, $800, um, and then the $1,200, and then that was a slow ride up.

Buy Deeper And Say It Plain

SPEAKER_05 12:35

Listen, if you're a new wholesaler and you're not making good money on your your deals, um, I I do have the answer for you, and it's a real simple one. Um, it's kind of an RJ-esque saying, you know, like I like to make things really stupid simple. The answer is buy deeper. Like, you know, just 10x that shit and just throw in a $60,000 buffer. Not $60,000. Okay, that was crazy. But the answer is like you have to tell the seller, like, hey, I need to make money. Like, I, in order for me to go out and do what I need to do as a wholesaler, I need to buy this at a better price so I can be able to sustain my marketing, my overhead, my my life. I need to be able to eat and have electricity and a place to live and a car. Like, you have to make money. And there's nothing wrong with telling people this. The expectation is when you do business with somebody else, you believe that they're making money and they're going to be profitable. We need to do the exact same thing. So we need to be setting that expectation when we're making our offers. Newer wholesalers sometimes are afraid to talk about that. Like, hey, that's not that's not enough margin in there for me as the wholesaler. Um, it also probably comes back to lack of transparency with a seller, not wanting to tell people that you're the middleman, being afraid you won't get the deal. Transparency is an extremely valuable tool because it allows you to talk about things like this. I think you need to make money. All right, guys, that's our episode of the King Closer Reacts. We got back to it. We went back to our roots in wholesaling this week. And oh man, we came out of the gates firing. 60k bangers guaranteed every single time. I can't wait to see that guy get tagged in the post below. But hey, brother, 10x that shit. 300,000, 600,000. Fuck it, man. Go get bigger deals. Let me know what you think in the comments. Make sure you like the video. We'll see you guys tomorrow.