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
TU In Review | Go For The Close
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Welcome To The Call Review
SPEAKER_04Welcome back to TUN Review, the series, where I am going to be watching a live seller call submitted by a titanium university member. And today we're going to be reviewing Mr. Omar Leon, who submitted us a live seller call. So shout out to Omar for submitting this to us because what we are looking for is not a great call. We're actually looking for a call that doesn't go so great so we can learn from it, so we can get better. And Omar has submitted this so you guys can learn alongside with him. So let's get into this live seller call of Mr. Omar.
Why The Seller Wants To Move
SPEAKER_03Okay. And just curious, I mean, what's what's kind of got you looking to sell?
SPEAKER_02Well, I thought about moving to um Illinois where my daughter is, because um she's got twins, and I'd like to be there with the child.
SPEAKER_03Oh, okay.
SPEAKER_02She got to do it anyway. Yeah, I've been checking on apartments around Moleine and stuff. Kind of after, you know, I get messages all the time, well, this is for rent and yeah, I'd like to move over there.
SPEAKER_03Okay. And then the the move to your to your daughter, I mean, how soon were you looking to get that done?
SPEAKER_02Well, um, I would hate to say because something always happens and um you know I don't get it done. But um, it was because uh I was in the hospital so bad.
SPEAKER_01You were in the hospital?
Silence And Repeating Key Details
SPEAKER_04Okay, so obviously we didn't we didn't capture like the first few seconds of the call. He probably started the recording. He starts off there by what's got you looking to sell? Don't mind that question. Don't know what happened prior to that, but don't mind that question. Obviously, we get a really firm answer from the seller there about hey, she is motivated to sell this property. And then this this moment right here is pretty critical. First, pretty critical moment of the call where he's the seller comes out and says, you know, I was in the hospital, and then kind of abruptly paused. So I liked one, Omar the silence, and then two, just literally repeating that back to her. You were in the hospital in inquisitive fashion. Uh, really like that moment. I see here that you have prop stream pulled up. I don't mind the fact that you aren't comping and underwriting the property, you're really engaged in the seller conversation. But I am a little bit curious as to why you didn't at least scroll down to where we could see the comps. We're kind of like just sitting on the property details page. I would have liked to have seen us scroll down so we could at least see kind of the average property values, the activity that's going on in the area based off of like our asking price. We because if we're we're basing this off of the four-steller buckets, we now know pretty quickly, hey, she is highly motivated. That's surface level answers that we've gotten. Now you're getting into more of the details. But on the other aspect of the four-steller buckets, is her price correct or incorrect? This is where we want to get that quick comp. We're not needing to go in and get the full after repair value. Just what is the area going for? Is this a hundred thousand dollar neighborhood? Is this a fifty thousand dollar neighborhood? I'd like to be able to see that. So I'm a little bit confused as to why you haven't scrolled down. Just a few notches on prop stream there.
Rapport Builds As Pain Shows
SPEAKER_02Uh yeah, I had seven surgeries on one arm.
SPEAKER_00Oh my god.
SPEAKER_02Yeah. So I had to go to the sweet bed, and that was boring. Yeah, but it's all over there. My mom is not gonna get any more surgeries no matter what.
SPEAKER_03Well, at least yeah, at least you got that taken care of. Well, I'm are you doing better?
SPEAKER_02Yeah. Oh yeah, yeah. I it doesn't hurt any more it well, there ain't no bone in it, but it doesn't hurt anyway. But my elbow up has all been replaced.
SPEAKER_03Oh wow. And then I mean, you being all the way over here in in Missouri, I mean, are you are you by yourself?
SPEAKER_02Is anyone helping you out or well right now my uh sister is saying here with me, and she's doing all the painting stuff. She got the bathroom done and board done. She's been doing a lot of painting. We've been trying to fix things up, you know. It's hard for an old lady to do that, though.
SPEAKER_01Oh yeah.
SPEAKER_04Oh yeah. She's doing a pretty decent job here of finding out the seller's pain and the motivation. Obviously, seven surgeries. That's pretty crazy. Got a sister living there. They're trying to paint the house. She's now expressing the fact that, hey, it's it's harder for an elderly lady to take care of a property. Doing a really good job there. I I'm assuming that he got an ASCII price early on. And and you know, I got a little bit of PTSD based off of last week's TU interview with Jamil, where he did such a great job of figuring out that pain and motivation, but he kind of lived there for too long. I'd really like to see Omar now looking at like the four levels of pain. We've got the service level. We're starting to understand kind of the purpose behind her wanting to sell, the story. I would like to see what pain is associated with the dollar amount that she's trying to get out of the property and just continue pushing the conversation along the lines of pain and motivation, but also still keeping it where it's, hey, we are talking about this transaction and how we can solve that problem by buying your piece of real estate. So I'd like to see him kind of just not live here for too long because we're we're getting a lot of information. We want to keep it on point here.
SPEAKER_03Oh, yeah, I bet.
SPEAKER_02And it this house is so small. You know, I would love to have a bigger house, you know, that more that's safe that my grandbabies could come. No, that and my daughter and the kids can have one room and the casino, there ain't no room.
SPEAKER_01Yeah.
SPEAKER_04Didn't like that, yeah. I'd rather either silence or come out with a question. Okay, so you want to get a larger place so your grandbabies could come stay with you. Even just repeating that back to her so she can open up more about what she's looking for. Because now you're trying, now this is inside of the four levels of pain. You're understanding the purpose behind her wanting to sell this, right? So she wants her grandbabies to be able to come stay with her. This is a two-bed, one bath. Like she said, there's there's no rooms here for them to stay. So we want to make sure that we're staying there. Try to avoid the meaningless agreements. I I do it as well. I talk about this in almost every call review. Gotcha. Okay, I understand right there, Omar. You said, yeah, it was unnecessary. We didn't need to do it. It's not a big moment, but it can add up over the course of a conversation if you do that too often.
SPEAKER_02But um, we've been looking for um places, me and my sister, but uh I I'm really thinking about going to Illinois.
The Camper Plan Opens Money Talk
SPEAKER_03You said a camper?
SPEAKER_02Buy me a trailer park, yeah. Yeah, I really want one. I used to work every day for a camper, and I thought, well hell, ain't never gonna move out of this place, so just stay here.
SPEAKER_01Yeah, I don't know.
SPEAKER_02Yeah, I got some windows replaced um in my bedroom. Yeah, we've been doing a little bit of work.
SPEAKER_01Yeah, yeah.
SPEAKER_04A good transition question right there would have been oh, so you're looking to get a camper. Do you know how much you would need the in your pocket to be able to buy that camper? She just said, you know, I've been looking at them for a while. That would be a good transitional question that you could have asked because she's opened up so much about all these negative things, all these motivating factors that she has. Now we want to transition that over to okay, well, how can we try to accomplish this for you?
SPEAKER_03Yeah. And I don't know much about campers. How much does do campers usually run? Like how much do they cost?
SPEAKER_02Around 17.
SPEAKER_0317,000?
SPEAKER_02Yeah.
SPEAKER_03And are those like brand new or no?
SPEAKER_02Oh, I don't know. I don't think they are not all of anyway. But uh I want one that has a worser dryer in it. And the only way I can do that is get a bigger one, which is fine.
SPEAKER_03So you're I mean, you're planning on getting a little camper going all the way down to to your daughter. I mean, yeah. After you get a camper, uh, I mean, over there in Illanora, are you moving in with your daughter or are you you looking to rent, or what's that kind of looking like for you?
SPEAKER_02Well, I gotta ask for places to rent. And I've been checking on um Facebook and stuff for campers and everything. Now I just got to get the money.
SPEAKER_03Okay.
SPEAKER_04Now I've just got to get the money. That is your permission to now start transitioning the conversation over to we've got to start talking about, hey, how much money does she need from the sale of this real estate? Is the property worth that? And how can we potentially be a solution for it? This is this is a critical moment. This is like the moment of truth of this call for you right here, Omar, because we can fumble it here and we can keep trying to explore, but if we got an ASCII price out of her, we should already know whether or not. But again, I'm looking at the comp, so like what you're looking at here, you still haven't scrolled down on prop stream. So I'm just I don't know if you know if this price is wrong or right. Now, maybe she gave you an astronomical ASCII price, and that's just the issue. But this point we know, hey, if she owns this free and clear, she's looking at somewhere around $17,000. That's what I'm reading into at this point with what I've heard.
SPEAKER_03Okay. How how much how much do they charge for uh for rent over there and uh by your daughter?
SPEAKER_02Um, well, it's different. There's something that's like a thousand dollars, and there's something like eight, there's something like four if you're um you know, I have more disability, so I could get help with them. And they check around trailer parts over there too. But you can't do nothing, no money, and I got kind of looking at being depressed.
SPEAKER_03Yeah. You know.
SPEAKER_02Well she's my baby. She's the last kid I had, and all rotten. Um Yeah, I'd like to get over there closer to him. But we wouldn't do good living together. I don't think she has any room anyway. Too many toys.
SPEAKER_03Right.
SPEAKER_02She could have a daycare with all the toys and stuff that they have.
Take Control And Talk Numbers
SPEAKER_04Gotta take control here. This this is the like again, we the moment is here where we've got to start moving forward on like, hey, we we understand what she's trying to accomplish. Can we do that or can we not? Um, more motivation and and pain could come out later on as we begin having a conversation here, but it there's so many questions about what she's trying to accomplish. I feel like we've got it. So let we've done a good job. Now, now we got to start talking about brass tax. Because I just on this call review, I don't know what she's asking. I just I still, like I said, the the last time I spoke, I think she wants $17,000, or that's what she needs. Well, let's let's get to moving on it.
SPEAKER_03Yeah, that makes that makes sense. Yeah. Um trying to see how I can uh help you get down there to your to your daughters. You know.
SPEAKER_02Yeah, that'd be awesome.
SPEAKER_03Yeah, at the end of the day, you know, I I want to put as much money as I can in your pocket. You know, I'm just I'm just trying to help out. But then at the on the other side, I also have to be just fair to the business as well. Um, so if I can help you out and you know make a couple of dollars along the way, you know, those are the best deals that I like to buy.
SPEAKER_04Yeah. I've heard this a lot lately. I don't I don't necessarily love that statement. Like, how is the seller supposed to like what are we hoping the seller is supposed to say? Like, we we don't go into a restaurant and in the restaurant be like, hey, I know you're hungry, and but we're a restaurant, and so we just want to make a few bucks off this burger that you're about to order from us. Like, we that's just kind of a given. Um, it's a known thing that we as a business we are going to make money off of potentially purchasing this property. So we don't need to say that there that that is like I would have liked to have seen not that statement, but start talking about what needs to happen. Like, so how did you come up with your asking price? How much money do you need to net in your in your pocket? Like these are the questions that I would like to see us start moving towards rather than just a blanket statement of hey, I'm a business and I want to make money.
SPEAKER_02That sounds good.
SPEAKER_01So I mean, if if the property still needs a little bit of work, uh, do you happen to know how much?
SPEAKER_02Um, I know the roof and floor, but I haven't checked on any prices or anything yet. That me and um Angie was just talking about getting uh camera getting single. So I was gonna check about that.
SPEAKER_01Okay.
SPEAKER_03So I mean, let me let me ask you this. If if if I can if I could put some money in your pocket, you know, to where you can get a camper and then a couple of thousand so you can have, you know, some rent money. I mean, w is that something that you would be open to?
SPEAKER_02Oh yeah. Yeah, I've never been on many vacations or anything, and I think if I had camper, I could do that. Yeah. You know, I'm old and never been nowhere. And it kind of like to change and enjoy my life.
SPEAKER_03Yeah, yeah, yeah, right. Especially with with all those surgeries you went to. It's I think it's about time you you enjoy yourself a little bit.
SPEAKER_02Yeah, I've been going through surgeries uh for three years. Yeah, and I'm I'm not done with all of it.
SPEAKER_03Okay.
SPEAKER_02So let's say uh I was in a car wreck.
SPEAKER_03You were in a you were in a car wreck, you said?
SPEAKER_02Yeah, yeah. Pretty bad.
SPEAKER_01Oh my god.
SPEAKER_02Yeah, I'm not paying it anymore, so that's uh Yeah, no, I can only imagine.
SPEAKER_03Uh actually my brother was in a car wreck at one uh when he was in Mexico one time and he told me the story about it, and I can't just imagine the you know, just the fear and the the pain that comes with that, you know.
SPEAKER_02Yeah. Yeah, well it's pretty rough.
SPEAKER_03Yeah, I bet.
SPEAKER_02I can't don't have much use of it. Uh I go to therapy next week. And you know, I can't lift it or nothing, but I still have an arm anyway.
SPEAKER_03Yeah.
SPEAKER_02Therapy ought to do me some good.
SPEAKER_03Yeah, I'm sorry that you even have to go through that.
SPEAKER_04Omar, I I feel like you're avoiding the close. I think it's because you you think the price is wrong or or that you don't know if it's a deal or not. I don't know what's happened on the underwriting side, though. We we haven't really looked at anything like from what I've seen on prop stream, like you've only scrolled down, you went back to property details, then you went back to the comps. We can only see agricultural, unimproved vacant land for 273. I'm assuming that's some acreage, but we haven't scrolled over to look at that. We got one property sold for 56,000. Don't know the bed and bath count of that, don't know the square foot, don't know if it's similar to our property because we haven't scrolled over. We haven't looked at Google Street View. We haven't gone on Zillow. I mean, I I don't know if you're just taking the the prop scream estimate off of this, which is really low, and and just digging like, hey, this this doesn't look like it's a deal, but there's I don't know what we're trying to avoid here. Um, this woman sounds like somebody that needs us. Um, I don't know if in the four seller buckets you ever in highly motivated, incorrect price, and so you're just worried about like how low you need this, but I don't know where that assumption would be coming from because it doesn't look like we put a lot of effort in trying to find the property values. But we're running out of time on this call. I mean, I I have the benefit of seeing there's only like three minutes left on the call, so we we got to get going. Um, I I don't know. There was a moment there, and you kind of let her start talking about the car wreck, and then you told the story, and you know, from a rapport-building standpoint, it was okay, but not necessary, it wasn't necessary, and and I felt like she did that because you were kind of not firm in like grabbing control of the call, and and like you're not I don't feel like you're being the real estate professional yet, and I'd like to see you take that over. I mean, I would have liked to have already seen it. I I hope it happens right here.
unknownSo yeah.
SPEAKER_03Well, that's good, at least, right? It's it's good you're looking at the at the other side in a bright way. So, I mean, you know, like I said, I I I truly do want to help you out here. Um I mean, let's say I'm I'm able to put enough money to where you get the camper, and then after that, I mean, how much do you think you would absolutely need in your pocket to move to Illinois? Like, like say I put that 17. I mean, after that, how much do you absolutely need to get that that move going?
SPEAKER_04So you took the information that she gave you, and then you used it against yourself. I would have rather you have just asked her like point blank, like, hey, I want to try to help you out, but I'm gonna cover all the clothes it costs. Like what my offer is is net to you. So how much money do you need in your pocket from this transaction? I wouldn't bring up like, hey, I'll give you the 17 for the camper and then put additional. Like just ask, how much money do you need net in your pocket? It's a cleaner way to ask that.
The 30K Ask And 25K Offer
SPEAKER_02I can go down to three uh thirty thousand.
SPEAKER_01Thirty thousand. Yeah. I need to find a job where I don't want to have to use my arm. Yeah.
SPEAKER_04I see you looking at, so I don't know what you're looking at. Maybe it was another screen or another uh another monitor that's not on this recording, but I don't know what you're looking at. Um you have to be comping somewhere else. Because I I I mean I can't tell if 30,000 is a good price or not. I would have loved to have seen you ask there, like, what's the significance behind 30,000? Why is that number important to you? Yeah.
SPEAKER_01I was really hoping you said 25.
SPEAKER_02Let me think about it. I might do that.
SPEAKER_03Yeah, I mean, yeah, you can take as much time as you, you know, you need to think about it. Uh, and I just want to make sure you're 100%.
SPEAKER_04What does she need to think about? Not, yeah, you can take as much time as you want. What do you need to think about? Let's talk about it together.
SPEAKER_03100%, you know, comfortable with whatever you decide. I mean, so kind of h help me understand.
SPEAKER_01I mean what do you think would be your biggest concern as to up to now? Uh like you said you needed to think about it.
SPEAKER_03Like, do you have any concerns up uh up until now?
SPEAKER_02Um, well, I'm gonna have to uh make sure I can make it, you know, for a while with uh that I don't want to be totally broke.
SPEAKER_01Right, yeah.
SPEAKER_03And I I don't want to put you in a bad position either, so um so let me ask you, I mean, how how much time do you think you'd you'd need to, you know, think it over because it it is a big decision.
SPEAKER_02A couple of days would be fine.
SPEAKER_03Couple of days. So like a week? Do you think a week would be good for you?
SPEAKER_02Oh yeah, yeah.
SPEAKER_03Okay.
SPEAKER_04I don't like how this was navigated here at the end. Um the 30,000. I felt like you kind of brought that on with, hey, I'll give you the 17 plus some in your pocket. What is that number? 30,000. I would have preferred to have seen you say, how much money do you need net in your pocket? Okay, you say it's still 30,000. Okay, what's the significance behind 30,000? Why is that important to you? Then she says, whatever the answer is, I was hoping that you would say 25,000. Okay, well, maybe I can make that work. I need some time to think about it. What do you need to think about? Well, I need to see if I can make that last. I don't want to be broke. That's what she responded to. Okay, well, let's talk about that. How are we going to come up with that answer? Like, what are some of the things that you're going to think about? How long do we need? A couple of days. Okay, well, it's Wednesday. Do you want me to call you on Friday? Not a week from now. Like, hey, this is when I'm going to call you. But we want to understand how she's going to come up with that answer, honestly. Because what can happen with these types of sellers is like, hey, call me back in two days. We call back in two days. It's like, I just don't know. Uh, how does she know that 30,000 is going to be is going to suffice, but we don't know that 25,000. Like, what what is that determining factor there? Between $5,000, what's moving the needle? Is it, like you said, the the lot rent? Is it the moving cost? What is it specifically that's changing this? And yeah, you're getting in the weeds a little bit, and it's a little nitty-gritty, and there's a chance maybe she says, like, I don't want to talk to you about this, but she's been pretty open with you. And that could be the difference between getting a signed contract with this type of seller and not getting a signed contract.
SPEAKER_03So, I mean, uh aside from price, is there anything else that would be like preventing you to you know get the ball rolling?
SPEAKER_01No. Okay.
SPEAKER_03So yeah, I I I would say you take the time to think it over. You know, obviously with all the things that you you know you have to take account for, I I completely understand. Um, so I can definitely just reach back out in a week and see where you're at and hopefully we can make something happen to where you're you know, closer to your daughter and and in a better position.
SPEAKER_02Yeah. That'd be awesome. Um, what is what's your name again?
SPEAKER_01Omar.
SPEAKER_02Omar, okay. Uh in my phone, so I'll know who it is when it's all.
SPEAKER_03Yeah, most definitely. So yeah, uh, you can you can save my number and then I can give you a call here in about a week, and then we can kind of go from there and hopefully we can make something happen for you.
SPEAKER_02Yep, that sounds good.
SPEAKER_03All right, sounds like a plan, Brenda. We'll keep in touch, okay?
SPEAKER_02Okay, thank you. Thank you.
SPEAKER_03Yeah, bye-bye.
SPEAKER_01Bye.
SPEAKER_04So
Debrief On Transitions And Closing
SPEAKER_04stuck on calling her back in a week when she was saying she needed a couple days, and even when she responded to the week, she was like, Oh, yeah, that would be more than enough time, plenty of time, you know. I mean, I didn't like that. Um, I just I I felt like during the entire conversation, you were uncomfortable going for the close and moving towards trying to close it. Um, you seemed extremely comfortable asking the open-ended questions, the pain and the motivation, which this is shocking. This is two weeks in a row that the TU and review videos have been fantastic on deciding what the seller's pain and the motivation and all of that was. But then when we got to the close, when we had the transition over, it was like there was no transition. We didn't leverage that information. And you kind of mentioned it there at the end about like, well, hopefully we can get you closer to your daughters. And she's like, Yeah, that would be fantastic. But if she's saying, like, yeah, that would be fantastic, she's basing that, that would be fantastic off of that $25,000 offer that you just made. I don't know. I I feel like this is a missed opportunity, and of course, that's what these calls are supposed to be. So, shout out to Omar for submitting this because he wants to get better. I think he identified that there was an issue on this call. It was the lack of transitions. There was a small little detail, too many subtle agreements throughout. Yeah, gotcha. Oh, I totally understand. Would rather see silence into questions, transition from when she gives you permission, like I need money. That's your opportunity to start talking about money. Uh, would have loved to have seen you take the exact same format that you did on your open-ended questions in regards to pain and motivation to talking about how much money she needs. You know, how much money do you need net in your pocket? Why is that number important to you? What does that accomplish? Because there are times, Omar, where someone thinks they need $30,000. And then when we really break it down to them, $25,000 actually works. And that's what makes the deal a win-win situation for both. But because we didn't have that conversation, we didn't ask questions there. You kind of did, but you kind of gave up on it. Whereas when you were talking about the pain and motivation, you didn't give up on that. You really you you stayed in the pocket, you lived there. So I know you you got it in you. You did it in the in the early part of the conversation. You just need to do it later on when we're really talking about what we need to be talking about. Yeah, the pain and motivation is important. We want to understand that, but then we have identified this woman needs us. She needs us, she's looking for our solution. Provide it to her, show her how that solution is within that $25,000 offer. The only other feedback that I would give you is I don't know if there was another tab. Let me know in the comment. If you were looking somewhere else, would have loved to have seen that on this screen. But whatever you did here on PropStream was not enough. I never saw you click on your profit calculator, never saw you run the numbers. So I don't know how we came up with that. I don't know how we came up with $25,000 being a good offer. Um, so I'd like to have seen a little bit more activity in that regard. Uh, but for everyone that tuned in today, show Omar some love in the comments for submitting this call. Um, it's not easy to submit a call to the public that you know doesn't go well. I've done many of these on live videos before, and it's always uncomfortable, but this is where growth takes place. So, Omar, I appreciate you. I'm proud of you for submitting this over. Show Omar some love. Show me some love. Like today's video. We'll see you guys tomorrow.