Is This Rage Bait?! | The King Closer Reacts

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Transcript

Welcome To King Closer Reacts

SPEAKER_05 0:05

What's going on, everybody? Welcome to King Closer Reacts. I am the King Closer, RJ Bass III, and this is the series where things have changed lately. I watch these videos and I make fun of people and I disagree. And then you guys tag them in it and they're like, thanks so much. It's really turned out to be cool. And I think it's just a sign that I am officially the old guy in wholesaling. I am Unk. So maybe we should call it Unk Reacts to wholesaling videos. I don't know. Let's get into the first video.

AI Claims And Wholesaling Basics

SPEAKER_01 0:40

Make more than 30k a month using Claude. I watched the video so you don't have to. Let's get into it. Now, this video talks about using it while wholesaling real estate, which is a real thing, by the way. Now, for you to make money doing this, it does take you doing a lot of research in certain markets and where distressed houses is. And that's what he says Claude can help you with, but you do have to do cold calling and find a distressed or ill-informed owner to actually get this going. And that there is something you should know because some states are starting to regulate more on this. Even two states require you having a license, and many others are saying that is to come. Cold selling houses is usually a side hustle for an established real estate agent. For everybody else, it's just something they sell a course on. If you want to see more stuff like this, subscribe to me. On to the next one, guys. Peace.

Licensing Myths Get Corrected

SPEAKER_05 1:23

Who the fuck? Who the fuck's that? Side hustle review. You know, it takes a special character to be on the screen with Zat Gin and be the biggest idiot on the screen. I mean, that that takes a special character right there. So this guy says that wholesaling real estate is a side hustle for real estate agents. That's false. Um, it's just a side hustle for us to sell courses, that's false. For some people. I guess we we can give them a little bit of that. There's a lot of people out there that don't actually wholesale and they sell courses, whatever. But this whole thing about in the caption, I know you guys can't see the captions, but he said there's two states that require you to be licensed to wholesale, and he says that's Oklahoma and Illinois. That's just false. That's just not accurate at all. Um, if we wanted to say that there is a state that requires you to be a licensed realtor in order to wholesale, that would be Pennsylvania if there if we're gonna say there is one. Um, Illinois, you can absolutely wholesale a deal without being licensed. That's literally part of the regulation. Um, they want to see a pattern in your business, and then you have to become licensed. Um, Oklahoma, it's you have to be licensed in order to market your equitable interest. So you can still assign a deal without doing marketing. So, again, this is just someone that's ignorant who's going around and I guess doing side hustle reviews and doing poor research. Maybe he should listen to Zach Ginn and use Claude to figure out what his actual lesson should be because he doesn't know shit about wholesaling and he's over here doing a review on it. So stick to your lane, buddy, stick to your lane.

SPEAKER_00 3:21

Wholesaling is truly the easiest and quickest way to make active income with real estate. As competition rises, right, there are so many different ways to stand out in terms of separating yourself from being an average wholesaler to someone that seems polished and as an operator to the homeowners is by being unique and being a consultant, right? There's so many people that are flooding into the marketplace that are just spamming generic text messages, spamming crazy cold calls, and just being more personable and being a more consultive person, you're gonna get more deals done. Second, if you're investing passively in single family rentals like what I did, and your goal is to make money to quit your job or whatever, it's gonna take you forever. You gotta do commercial or you gotta do some sort of active income like flipping or wholesaling. And wholesaling is truly the easy.

Win More Deals By Educating Sellers

SPEAKER_05 4:06

Yeah, I like his take here, especially when he's talking about being that consultant for the homeowner. This is what I refer to as educating the homeowner, especially when they're highly motivated to sell for a discount, but their initial asking price is incorrect. And we see this a lot in the industry where it's hey, just lowball them, anchor them low, and then you can get them to come up to the price that you need. I feel like you get a lot further in these seller conversations when you educate them on how we are coming up with our numbers. I mean, you hear homeowners all the time say, I discounted my property by $50,000 because it only needs $20 more,000. So that's $30,000 profit to you. Now, if you've ever done a real estate transaction, you know that's not the case because you have realtor commissions, holding costs, closing costs on the both the front and the back end side of the transaction. And so you're probably negative going in on that deal. This is where we can educate them on those numbers and how we're coming up with our offer. And I completely agree that gets you much further along inside of your business.

Is Wholesaling Unethical Or Misunderstood

SPEAKER_02 5:15

Wholesaling is the most unethical business practice in the real estate industry. Now, before you get too defensive, let me explain to you why it is.

SPEAKER_05 5:26

I hope he has a really good take because man, just upon first glance, I was like, ha ha, bearded brother, Viking, and then he's like, dumbastery. I hope he has a really maybe this is just a hook. You know, that's that's what we call it. Hook. Maybe this is just a hook, and then he's gonna come around and tell us how wholesaling is amazing.

SPEAKER_02 5:48

So, what is wholesaling? Wholesaling is essentially finding off-market properties and negotiating with a seller a lower price that you can then go and sell it to an investor or home buyer at a higher price, and then you collect that difference by assigning the contract to a new buyer. It is without a doubt the most unethical, immoral practice in real estate that exists. Why is that? Because you are taking market knowledge, something you have that you know a property is worth a certain amount of money, and then you are going and convincing someone to take a price that is far below that value so that you can go and earn the difference. One of the biggest reasons real estate agency realtors were introduced to the markets in the early 1900s was to actually defend against practices like this so that if I have the knowledge that a home is worth much more than what a seller will sell it for, I can go and represent them for a flat fee or a flat percentage and then go find that higher offer in the marketplace so that that person can make as much money as possible. I take a little percentage and then I move on to the next deal. Yes, I make far less per deal. However, it benefits the general market and the general economy much more. When you do wholesaling, you are going in and taking advantage of people. You are predatorily going after people that do not know their home's value, and you are taking advantage of them. To me, that is one of the worst things you can do in business, and it's absolutely one of the worst things you can do in real estate.

SPEAKER_05 7:31

Oh man. My bearded brother. We disagree on everything. You know what I just don't understand is when we misrepresent what is actually taking place. Like, you go and you list a property on the MLS for $300,000, and you're like, I'm gonna take a tiny flat fee or percent. We know what that is. It's six percent. Three to you and three to the the buyer's agent, unless you discount your services, because I mean you have to do that to get business, because that's what you guys do. Yeah, I mean, there's flat fee agents out there, but they're not going out and representing these homeowners, they're literally just listing on the MLS. So if you're a true realtor that is trying to go out and represent the homeowner, you're taking the 3%. Okay, so 6% right there. So what's what's 6% of $300,000? It's $18,000. Okay. The nationwide of all price points across the entire United States, the average assignment fee is $15,000. Okay, now I would like to know my bearded Bobby friend over here, how many times he goes and he takes care of the inherited property that's now facing foreclosure that has 16 heirs. How many times does bearded Bobby go take care of that homeowner? Because we take care of those people every single day. My team right now, while I'm recording this video, is taking care of about 30 of those scenarios all across the United States. Now he's saying it's unethical because we are getting that property below the market value of what it's worth. Okay. It's the same thing that you're doing, Bobby Boy. You're going out and you're you're not getting the homeowner $300,000 when you list it on the MLS because you're taking your commission. They have to pay the closing costs when they list it. We cover those closing costs. There are no commissions. That would be the assignment fee that is built in there. But we are going after people that are in distressed situations. I'm not going to a regular homeowner with a beautiful house that has no reason to sell a property for a discount and convincing them that their house is worth half of what it's worth. No, I'm going and getting the worst shit boxes in America. The ones that I can almost guarantee you, if I go to your little Zillow profile, are not there. I can guarantee you you don't have listings of dog shit and cat piss all over your beautiful profile. That's my profile. That's that's what I take care of. I take care of the ones where they say the guy that was living in my driveway, he died. And there's a crime scene in my driveway now. And I've got to get out of here because I'm behind on my taxes and I'm gonna lose my house in 20 days. Bobby Boy, what are you doing about that? How are you serving that homeowner? See, this is the problem I have with dumbass shit when we come on here and we say it's unethical. I don't say what you do is unethical. I say you just don't do what I do. I don't do what you do either. But 90% of the time, Bobby, I go to homeowners and I tell them they should hire you. What about that? How come you don't make fucking videos about how good wholesalers are out there saying 90% of the time you shouldn't go with me? You should hire that fucking bearded Bobby fuck to list your house so he can get you full fucking retail and you can pay him 3% for fucking clicking a button and putting it on Zillow. What about those videos? Why don't those videos ever fucking come across my feed? It's always you're a fuck up, you're unethical, you're immoral. What? Where the fuck are you saving the inherited foreclosure with 17 fucking heirs all across the world? Where are your fucking videos with that? Show me the fucking cat piss house and the dog shit house that you fucking listed and you got full fucking retail for. Show me those videos, and then I won't be so upset, my bearded brother.

Why Joining A Team Beats YouTube

SPEAKER_03 12:42

The biggest mistake I see a lot of new real estate investors.

SPEAKER_05 12:45

Oh the biggest mistake I see this guy, Mr. Ryan Zolan, make is that time that he was supposed to be a guest on my podcast and he ghosted me and he didn't show up. And then years later, three years later, he just messaged me and he said, Yo, RJ, loving the new Reacts. Well, it's not new, but it's gonna be new for Ryan. Welcome to the fucking arena, buddy. Hope you've got a good take. Uh, because I'm so ready to roast his ass. No showed me on a podcast. I was the host. He wanted to be a guest.

SPEAKER_03 13:25

I'm waiting for the apology. Specifically, wholesalers make is actually starting on YouTube University, and that's not what you're No. Here we go.

SPEAKER_05 13:36

Ryan just had to go and say something dumb. The biggest mistake wholesalers make is going to watch YouTube videos. How? How's that a mistake?

SPEAKER_03 13:47

Okay, let's see. Favorite guru wants me to say. So unfortunately, YouTube University is where most people post content to then use affiliate codes to try to upsell you, to try to get you to bring them deals, and that's not gonna help you. What you need to do right.

SPEAKER_05 14:03

You're you were one of batch leads' largest affiliates. Like, come on. When we bash each other, batch each like let's let's do it the right way. Don't do it about what you're doing. You sell affiliate codes. Sign up batchleads.io backslash the realtor wholesaler or whatever your shit was, Zolan. Like, you did the exact same thing. What are we talking about? There's nothing wrong with, hey, this is how you use prompt stream. Sign up using my code.

SPEAKER_03 14:35

No, alright, let's see what else you got to say. You need to do is actually start on a team or find the right community where you'll actually get training rather than just being a number in a big group. And before I get called out, yes, I do have a community, but I'm also making more money doing real estate investing than I am being some online guru.

SPEAKER_05 14:52

You're we're calling you out right now. You've already been called out before we even got to the before I get called out.

SPEAKER_03 15:00

It's halfway through the year of 2026. We've done over 55 transactions so far, year to date. And I don't want you to make the same mistakes that I made when I was first trying to learn how to become a real estate investor. So what I recommend is doing what I did when I first started in real estate, which was 10 years ago. I joined someone else's team to actually learn systems and processes, scripts, and how to get deals under contract and sold. And then along the way, you start to find what actually works for you. And then you can invest into the right strategies and communities based around the things that you're trying to learn and get better at, rather than trying to send out a prayer and hope that the community that you just gave $10,000 to is the right one. Trying to keep these videos short, but there's always gonna be someone that's like, well, I don't know where to go find a team. Go to meetups, go on social media, join someone's cheap community and find people that are actually doing the business and verify that and then actually learn from them.

SPEAKER_05 15:48

And then God damn it. See, there's a reason why I wanted to interview Ryan because deep down I actually like him. And he had a pretty good point there. I I actually like the idea of like if you're getting started, it makes sense to join somebody's team to allow hey, your budget to go further, to gain that experience of somebody that's been in the industry for 10 years and they're saying, Hey, this is how we run our business. You could come on and just do one piece of the entire thing, like acquisitions or dispositions. This makes sense. Take, for example, a young kid on my team, Sam Weaver. He came in as a TU member. We watched him grow, learn, put in the effort every single day. We offered him a job to come in and do acquisitions, and that's obviously one of our strong suits, right? I'm I'm called the king closer for a reason. But for whatever reason, the acquisitions didn't really take off with Sam. But we ended up with a significant amount of deals under contract, and we needed some support on dispositions, so we moved him over to dispo and he took off. The guy is an unstoppable machine now on dispositions. And I don't know if Sam ever learns that about his skill set, his personality, if he wasn't a part of a team, if he wasn't a part of this community, to learn, hey, this is where I actually flourish in this business. Cassie flourishes on the dispo side. I flourish on the acquisition side. We learned that through trial and error. Now we're able to do that for other people coming in, and they're not doing it with their own pocketbook, they're doing it with ours and our training and our support along the way. So, yeah, Ryan, I gave you a little bit of a hard time there, but all in all, that was good tape.

Realtors Mixing Up LLC FHA Advice

SPEAKER_04 17:41

The reason why wholesalers and real estate gurus are despised by real estate agents is because they give shit advice, it's garbage, it's misleading.

SPEAKER_05 17:50

And a lot of it is slimy. Do you mean like your fucking brother just gave that shit advice? Oh, here we go. Hold on, this is a long fucking video. This dude literally looks like while I'm I've got him on pause here, like he just shit his pants. He he already knows I'm about to fucking roast his ass.

SPEAKER_04 18:09

Timey tactics. There's this one troll who's like this real estate guru advice guy who comments on all my videos, negative, of course, doesn't like stuff, uh, doesn't follow me, but yet somehow always ends up watching my videos and putting some type of snide comment on them. And I saw he had this live going, so I was like, you know what? I'm gonna watch this guy for a little bit and see what the hell he says. He's given advice on buying properties to make sure that you buy these properties in an LLC. And the reason why he wants you to buy it in an LLC is to give you a layer of insulation to be able to back out of the deal, and it gives that seller no recourse to come directly after you, which that is let me let me stop.

SPEAKER_05 18:54

There's a lot of dumbass wholesaler gurus out there, but honestly, nobody is saying that you need to lock up a property with an LLC so you can back out. Brother, you just have an inspection period, and anybody, even in your retail transactions, can back out during the inspection period without any recourse. That's what is this is what I hate. I I just I despise how realtors twist things around. I mean, I do a retail transaction, there's totally going to be renegotiations, there's totally going to be an opportunity for the buyer to back out. But this guy, okay, let's see what else he has to say.

SPEAKER_04 19:39

This sound advice, but that's the premise on which they are going under contract with home sellers. They're going in with the mindset of, well, what if I just want to punch out of this deal altogether and not use any of the mechanisms that are already in the contract that favors the buyer? There are so many ways to get out of a real estate contract without having to just say screw it and walk away. And I'm like, ha, gotcha, because I used an LLC. Good luck suing me. That's just shady shit. Which brings me up to my other topic. He was talking about buying properties up to like uh duplex, triplex, or a four-plex using an FHA loan. Well, I'm sorry, but if you're buying a fourplex for you to get an FHA loan, you can't be buying it underneath a corporation's name. You've got to have it under your name. It's not meant for entity.

SPEAKER_05 20:28

This is not a wholesaler advice. What do you what is he talking about? We don't talk about buying properties with FHA loans. Fucking go on.

SPEAKER_04 20:36

What these it's meant for individuals. It's meant for families. And of course, he was talking about living in one of the units and renting out the remaining units to people to cover the note on the property. But he went even further to say, you know, you can get 6% back towards this, and it's only 3.5% down, and you can use that 6% for your closing cost and even your down payment. No, you can't. You can use it for closing cost. You cannot use it for down payment. You've got to have at least 3.5% skin in the game. But I watched this for like five minutes while I was doing other shit and just listening to the crap he said, and I I was just blown away by it. And yeah, this is kind of why people freaking despise wholesalers.

SPEAKER_05 21:20

This has nothing to do with wholesaling. None of this is wholesaling advice. None of this. This is not wholesaling. If anything, this is a landlord. He's talking about buying duplexes and single family bro. We don't talk about this. This is not wholesaling advice. This this man doesn't even know what a wholesale guru is. Well, James Rowette, Houston Realtor. Hi, I am RJ Bates. I am a wholesaling guru. You can go watch all of my fucking videos. All of them. I welcome you to go watch all of my fucking videos. Find one thing. On there, that's not a fucking fact. Find one thing. Find one thing. And if you can make a fucking TikTok tag me in it and tell me where I misled people, I'll fucking apologize for it. Because I guarantee you, out of my 4,000 fucking videos, you won't find anything that's not fucking real and a fact.

SPEAKER_04 22:22

People despise gurus in the housing market trying to explain get rich quick and how you don't need a real estate agent when you can listen to people like this who teach courses who don't even understand how basic loan programs work. I mean, if they don't even understand how an FHA works, how the seller contribution towards buyers' closing costs works, that you cannot use that for your down payment. Here's the part that was crazy. He's talking about an FHA loan. There are a lot of loan programs out there where you can go in with no money down. You gotta know the right lenders, and he doesn't obviously know this, but he's the guru. What do real estate agents know? We're just stupid. But advice like this, this is what puts a bad taste in your mouth. And if you're a wholesaler and if you're doing this stuff to where you're going in with an LLC or assigned to other, you're not fooling anyone on what you're trying to do.

SPEAKER_05 23:10

Did he say wholeseller? He said wholeseller.

SPEAKER_04 23:17

All right, we got one final part. And here's the last final part is if he's creating an LLC with the explicit purpose of purchasing a property and also using a loan, what's the track record for them getting a loan with that? Oh my god.

SPEAKER_05 23:34

Okay, so James Rowlet, Houston Realtor. Um, I don't know if you know what wholesaling is. One, it is spelled W H O L E S A L I N G, not H O E selling. Ho selling. This is wholesaling. So what we do is is we get a distress seller, distressed property, and we get that under contract. And we are not going to take a loan, we're actually not going to purchase the property at all. We are going to find an in buyer and we are going to assign our equitable interest to them. So I think that you actually have an issue with a landlord guru. He's not named. I name the people that I go after, like James Rowett, Houston Realtor, Bobby the Fuctard Realtor, the bearded fucktard. I go after you guys, and I have no problem using your names because you put this out there publicly for all of us to watch and learn. I didn't learn shit about shit during your three-minute video, other than the fact that James Rowette, Houston Realtor, doesn't know what wholesaling is. That's it. I mean, what was your point in this? It had nothing to do with wholesaling whatsoever. This is why I despise how realtors come after us when it's like, what are you even trying to come after us for? This literally had nothing to do with wholesaling whatsoever. All

Final Takeaways And Sign Off

SPEAKER_05 25:17

right, guys, that's our episode of The King Closer Reacts. You know, I said at the beginning, we've had this cool change, this dynamic shift with King Closer Reacts, where some people are excited to be on King Closer Reacts. They're like, dude, this is awesome. Like RJ Bates reacted to my video, and yeah, he kind of told me I was wrong, but I learned a lot and I'm gonna go be better now. I don't know if our two realtor friends are gonna feel so cool about my reaction. Cause uh, well, their their takes were just bad, like real bad advice. Um, some of the worst that we've seen on here. One guy was attacking wholesaling, and it wasn't even about wholesaling. The other one was just dead wrong. But I can't wait to see Bobby the bearded realtor come out and show me his Zillow portfolio of his cat shit house and the 17 heirs that he helped coming soon. Show me some love, like the video. We'll see you guys tomorrow.