A Tenant Occupied Rental Property? I'll Take It

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

Picking The Next Seller Call

SPEAKER_01 0:00

What do you think, Jerry? Two percent rental on oh I muted you. Sorry. Someone will want that. Yeah. It's it's not working out. We're gonna go to Ohio. I like Ohio.

SPEAKER_00 0:16

There's some good Ohios on here. I know you like some of these. This is uh Tired Landlord. I was wondering if you were gonna call the Gary, Indiana Tired Landlord. That's a $5,000 house right there. 500.

SPEAKER_01 0:35

Right.

Opening The Conversation With Roger

SPEAKER_01 0:36

Hi, is Roger there? Hey Roger, this is RJ Bates calling about your property there on 65th. Looked like you had uh spoken to someone on my team about needing to sell that property, is that correct?

SPEAKER_03 0:50

Well not needed, but interested.

SPEAKER_01 0:53

All right. How much are you looking to get for it?

SPEAKER_03 0:56

30.

SPEAKER_01 0:59

30,000.

SPEAKER_03 1:01

Yeah.

SPEAKER_01 1:01

Alright. Well, tell me a little bit about what you got going on.

SPEAKER_03 1:05

Well, the back needs to be remodeled. Uh uh had a fire and I

Fire Repairs And Rehab Scope

SPEAKER_03 1:12

fixed all the stuff from the fire, still needs drywall. I got the insulation to print up and drywall it. Uh just got the electric inspection for that after my breakers uh you know the park font since it's uh now gonna be inspected. Uh so that takes care of the upstairs, the kitchen and the downstairs bath need to be fully remodeled. Um so that's that. And uh, anyways, uh what else? It's uh it's a double. Uh the front is rented, and uh I just re redid everything in there about three years ago.

SPEAKER_01 1:56

Okay, how much is that getting in rent?

SPEAKER_03 2:00

Uh 600.

SPEAKER_01 2:01

600.

SPEAKER_03 2:02

Yeah, and the back would probably go for a thousand.

SPEAKER_01 2:06

Okay. On the cheap side. And how much do you think, like dollar and cents wise, I need to put in to finish that back?

SPEAKER_03 2:16

Uh five hundred tops. Between five and sixty, five hundred.

SPEAKER_01 2:22

I got a hang she rock, tape bed, texture, paint, and all that.

SPEAKER_03 2:27

Am I gonna do it?

SPEAKER_01 2:29

Uh no, no, no. I'm saying that I've got to do all of that.

SPEAKER_02 2:33

It's only it's only one and a half room, it's not okay.

SPEAKER_01 2:39

And then the and then the kitchen and the bathroom as well, though, right?

unknown 2:43

Yeah.

SPEAKER_01 2:45

Okay. And how much do you think this would be worth once it once it's fixed up?

SPEAKER_03 2:56

Um depending on what you believe when you look at Zillow and all that shit. Um they're saying any words, they're they're less than 85. Um 65 would probably be uh the better number. Um I'm sure it'd be worth every bit of the the mid-50s.

SPEAKER_01 3:22

You know, it's rare for homeowners to be conservative from the Zillow number.

SPEAKER_03 3:29

What's that?

SPEAKER_01 3:30

It's rare for a homeowner to be conservative from the the Zillow number. Normally it's the other way around. They're like, Zillow says 80. I think it could be worth 120. You're going the the conservative route. I don't normally see that.

SPEAKER_03 3:45

Well, I got my eye on whether I want to fix it or not myself. I'm 67, I'm getting lazy. I used to like to go to shit now. I don't want to be bothered.

SPEAKER_01 3:57

How many how many rentals did you have?

SPEAKER_03 4:01

One time I had five.

SPEAKER_01 4:03

Okay. You got rid of the other ones? Yeah.

SPEAKER_03 4:09

I I

Price Anchor And The $30K Line

SPEAKER_03 4:10

didn't plan on buying this. I bought it for my brother to live in because my wife kept kicking uh my brother out of one of the rentals, and he was old hippie. So but anyway, so that's the last property I got over in that neighborhood.

SPEAKER_01 4:26

So the only thing that kind of concerns me about it a little bit is like the commercial that's across the street. Have you ever had any issues with like vandalism or anything? No, no, it's even better.

SPEAKER_03 4:41

Um the lot next door uh is owned by the city land bank. You can either buy it uh for what what they call it, uh garden property, or you can't use it for anything, just you know, green space, or you can buy it as uh put a garage on it, um, or you know, and buy it outright that way. But uh the prop, it's it's really quiet. I mean, there's only one neighbor to the left of me, and there's no neighbor to the right, and across the street is commercial, and uh nobody ever bothers um, you know, that property at one time when it was up for sale, so we sat making and nobody's talking about the alumno siding off of it. You know, it just kind of blends in. You know, almost pass it up a couple of times before you know where you're at. So but anyways, it's kind of new rough. Uh it's got a little rough, it's got new windows. Um I picked the furniture in, although I haven't finished hooking up yet. Um put the gas line, electric and uh what else. So yeah, that's about it. You gotta fuck with the bathrooms and uh uh the kitchen. So I would say uh you know two men uh no more than two weeks, possibly uh three. Uh I would just print a new scab and a subpoena.

SPEAKER_01 6:28

Um so well How'd you come up with uh the 30,000?

SPEAKER_03 6:36

That's worth it's worth for me to sell. If I don't if it's I don't can't get dirty, I'll just just work on it myself. You know. I don't feel like giving it away. If I can give it away, then uh that's stupid. I mean I'll uh it wouldn't take much for me to get it done. I just need a good kick in the ass.

SPEAKER_01 7:00

So well, where does twenty-five thousand land in between kicking the ass and getting it done?

SPEAKER_03 7:08

Yeah, I'm not interested. 30 is the number. So I just the the city's a crazy for 26.5, so I got too much into it to go for uh 25, so because of what you did after the fire. What I did after the fire, and you know the new windows, uh the the new roughing, the metal roughing. Uh I I had started on uh you know, I did buy the furnace, I set it down there and uh you know, got the ductworks going. I haven't finished. I I just gotta do the do the uh electric and the uh gas line

Tenant Cash Flow And Rent Upside

SPEAKER_03 7:55

to it, which you know take me about four or five hours.

SPEAKER_01 7:59

The tenant and the front, are they on the long-term lease?

SPEAKER_03 8:03

No, the lease is expired, uh, but they've been with me for a while, and they're interested in the back.

SPEAKER_01 8:11

Oh, they're interested in moving to the back or renting it out as well?

SPEAKER_03 8:16

Renting out the back as well. No, I'm sorry, moving to the back one's done.

SPEAKER_01 8:22

Gotcha. So they can have big more space.

SPEAKER_03 8:27

Yeah.

unknown 8:28

Okay.

SPEAKER_03 8:28

The front is only a one-bedroom, the back is a three-bedroom. All right. So the back's a three-bedroom, and uh so I've got window area. I've got a uh what do you call it? Uh the portable area in it, which I permanently hooked up with the line drain line going outside for a bedroom that upstairs does not have a window. All right, and then the front bedroom would uh uh have a uh what's gonna call it window unit. Uh having gotten the ducks upstairs, it really doesn't get that bad. Um my nephew lived there, he's the idiot that started fire. Um AC when they into a Chinese cord and a unit called you know overheating it. That's what started it. Any rate uh uh it's pretty well upgraded electric-wise. Um of course when you remodel the kitchen, you're gonna have to, you know, run the redo the circuitry and uh the plumbing on that. Uh I had a layout in mind, I just haven't done anything with it. So if I saw the little 30, selling, I'll just keep plugging away, doing a little bit here and there. So but 30 is my price to walk away from it, and uh otherwise I'll you know, I'll do the repairs myself and try to go for 55, 60,000 or 75 or whatever. Have you looked at Zillow or anything about it? The what they're saying on the pricing.

SPEAKER_01 10:20

Yeah, I'm looking at it right now.

SPEAKER_03 10:22

Yeah, what is what are they listening for? Like 85?

SPEAKER_01 10:25

Oh, I pulled it up on a comping software. I can pull it up real quick on Zillow. Zillow says taxes, it has a tax that says value

Contract First And Scheduling Access

SPEAKER_01 10:32

of 26.

SPEAKER_03 10:33

Uh 26.5 is what the city is listed. It is.

SPEAKER_01 10:38

Yeah. And then it doesn't really have the zestament on there for whatever reason. Um I can go to like it's what they call the zestament, their little figure of what it's worth. It just says the tax assessed value on there right now. Red Vin says 879. So 87,900.

SPEAKER_03 11:00

So 20 grand off that, and it'll be in the right neighborhood.

SPEAKER_01 11:05

Right.

SPEAKER_03 11:06

So 68 grand, 675, something like that.

SPEAKER_01 11:11

So I buy it from you for 30. I'm getting 600 a month day one. I gotta fix up that bat back. They would be move willing to move back there for a thousand. And so I could be getting sixteen hundred a month in rent. Yes. If I send you a contract for the 30, are you gonna sign it?

SPEAKER_02 11:37

I'd rather you come out and look at it first.

SPEAKER_01 11:41

I'd rather you sign the contract.

SPEAKER_03 11:44

What's the big deal about the contract?

SPEAKER_01 11:47

Because if I sign a contract with you, then I have the rights to buy it. If I don't sign a contract and I come out there and you're like, the price is 40 now, or I changed my mind, I don't want to do this, and I just wasted my time. And I know you're gonna say, well, I wouldn't do that. That's what every homeowner says before they do it.

SPEAKER_03 12:07

Well, that's why they go 25. But uh, I don't care. You can send me a contract. Um, you're not gonna try to get rid of the tenant, are you?

SPEAKER_01 12:20

No, no, the tenant is like the the selling piece of it because it's instant cash flow on day one.

unknown 12:27

Yeah.

SPEAKER_01 12:27

I mean, if it was, hey, it's vacant and you can start getting six hundred and a thousand dollars, then that's a that's when I would want it at a more steep of a discount. But this is basically a two percent rental on day one. I could technically not do anything to it, and it would it would still cash flow, but then the opportunity to be able to come in and do something that makes it um even even more advantageous from a rental perspective. But you know that. I mean you've been doing this for a while, so yeah.

SPEAKER_02 12:58

So yeah, no, I'm gonna swallow 30,000.

SPEAKER_01 13:03

So I don't know where I'm at.

SPEAKER_03 13:05

Otherwise, otherwise I will go ahead and get the quit being a lazy fucker and get to work on it.

SPEAKER_01 13:12

Yeah, well, you said you wanted to be done.

SPEAKER_03 13:15

Well, I do, but I don't like to lose money.

SPEAKER_01 13:18

Well, let's just get it done. Let's get you 30 grand and you can be done.

SPEAKER_02 13:23

Yeah, okay.

SPEAKER_01 13:24

All right. Uh let me make sure let me make sure I've got your email. Let me see if I got it on here.

SPEAKER_04 13:32

What is it? It's Roger dot elder. Yep.

SPEAKER_01 14:05

Okay, I'll get this written up and sent over to you here shortly, okay?

SPEAKER_03 14:09

Alright, when are you gonna be looking?

SPEAKER_01 14:11

Um I what once we get this signed, we would probably be out there. Well, we've got to set that up with the tenant. The the vacant lot we can probably get out there in the next day or so. Um with the tenant, you know, we would want to be respectful of what their availability is and whatnot. So we would just work that out with you and the tenant.

SPEAKER_03 14:30

Yeah, I wouldn't know. I would probably just say, you know, uh you're with the city come and look at it, yeah, or something.

SPEAKER_01 14:39

Yeah, that's fine. So we'll figure out that, but uh I honestly I'm more interested in just seeing the the vacant unit and just verifying what all we need to do there. Uh that would be the most important thing.

SPEAKER_02 14:53

Sounds good. All right.

SPEAKER_01 14:55

All right, thank you, Roger. I appreciate you.

SPEAKER_02 14:58

Okay, talk to you.

SPEAKER_01 14:59

All right, bye-bye.

SPEAKER_02 15:00

Goodbye.

Quick Debrief After The Call

SPEAKER_01 15:04

What do you think, Jerry? 2% rental on oh, I muted you, sorry. Someone will want that. Yeah.