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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
Speed To Lead LIVE with RJ Bates III & Jerry Norton
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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.
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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
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New Time Slot And Setup
SPEAKER_08What's going on, everybody? Welcome to the special Tuesday live at 222. Oh, wait, no. It's not 222 p.m. For the first time, Jerry, you didn't know this. For the first time in three years, I'm not going live at 2.22 p.m. It's almost three years to the date. I hope I didn't jinx us. We're changing it up. We're at 12 p.m. today. Jerry's out of town. He's at an event that he's gonna he's gonna be somewhere later on. So uh change up the time. We're gonna hope that that means we're gonna have the most amazing connection rate. We're uh listen, the the chats are saying six contracts today. Wow, uh six contracts. That's that's a lot of pressure, guys. Like, I mean, we're good, but six is a lot. But today we're we're live with uh speed to lead, uh, which we've been we've been using speed to lead for five years at this point, but never disappoints. So excited for this. Jerry, where are you at? Huntington Beach. Huntington Beach. All right. Well, I fly back to yourself. You've got two and a half hours. You get three, I get three. You think we can do that in two and we can do it. Let's let's kick it off, man. We got our our leads over here. I'm gonna send that to myself so I can get started. These are I don't know what what kind of leads we're we're calling today. Um, I think they give us a blend of everything.
SPEAKER_00Yeah, I got the I got the list up right now looking.
SPEAKER_08Yeah, and in true uh speedily fashion, they over-delivered. Um, we have plenty of leads to choose from today.
SPEAKER_04Yes, okay. So this is always the hard part.
SPEAKER_03It's not hard. You know exactly what you're calling.
SPEAKER_04Yeah, you just you I need the crystal ball though.
SPEAKER_01Like who's waiting by their phone right now? Right. Who's waiting by their phone right now?
unknownOkay.
SPEAKER_04All right, I'm I'm getting my leads pulled up here.
Picking Leads By Motivation And Condition
SPEAKER_01We got financial reasons on the far left this time, okay. Okay. So, guys, one of the strategies here is you, you know, if you if you're new to the show and you're new to PPL, is you get a certain amount of information and then you decide if that's a lead you want to buy. In this case, they provided these for us because they're sponsoring the show. So RJ and I have a list right now, and it'll tell us there's a financial reason, they'll tell us a reason, and there must be a drop-down, you know, things people can choose when they fill out these forms. And then one of the questions is condition, and you have like cosmetic flooring paint, you have remodel, which is like kitchen bath and stuff, and then you have one of them is full gut. And RJ, why is that one of your favorites? Full gut.
SPEAKER_08I think if any homeowner is willing to admit that their house needs a full gut, that screams to me that they are going to be willing to sell their house for a discount. And so I'm in response, right? I'm always just trying to pay attention to are they telling me with the information that they provided that they'll be willing to accept less than full retail? Yeah, at least that leads me down a path of least resistance. So I'll say this, Jerry. I one of the the motivating factors, which you know, they have tired of being a landlord, retirement, downsizing. I love the selling of vacant, non-occupying property. I love, I mean, look at this. We've got uh selling a vacant, non-occupied property, full gut, needs everything in Dayton, Ohio. That screams that the seller's gonna be asking for like five thousand dollars.
SPEAKER_01Yeah. I think I'm gonna go with um RJ line 119 on our list. It's it's a full gut, it's in Missouri, um, which I'm not afraid to take down in Missouri with the new law. Yeah. Uh and Missouri traditionally is a good financial reason, and Missouri's traditionally a good, a good market, you know, for wholesale. Yeah. Or for deals.
SPEAKER_08So the only the only reason why I don't like financial reasons as much as some of the other ones, which we'll find out, is that sometimes the financial reason is like, hey, I need a lot of money.
SPEAKER_01Yeah, it's a little vague. It can mean a lot of things, right? All right. Actually, I think I'm gonna pull an audible here. I'm gonna switch over to Detroit. So 127.
SPEAKER_07Okay.
SPEAKER_01Let's do it. All right, so mostly because they should recognize my 248 area code, which is a Michigan. So I should get a I should get an answer.
SPEAKER_08Stephen, it's all Jerry's fault. That's what's up with the 12 o'clock.
SPEAKER_01It's my fault. In fact, I feel very special, RJ, that you you were willing to do one. I told RJ everybody, I'm like, this will be the only time I ever ask you to change from the 222 time.
SPEAKER_06Imagine Jack customer UF call is unavailable to Justin.
SPEAKER_08Noelle said he's always gonna call the one RJ says to call.
SPEAKER_01You know what? You don't you don't go wrong there. It is true, you don't go wrong there. Hello?
Detroit Duplex Seller Wants 40K
unknownHello?
SPEAKER_01Yes, hi, is this Angela?
SPEAKER_05No, this is not Angela.
SPEAKER_01Oh, okay. Uh I believe I've called the right number. Are you looking to sell a property in Detroit on Buena Vista?
SPEAKER_03No, I don't buy that.
SPEAKER_01No, you're not. Do you own a property on Buena Vista?
SPEAKER_06I can't think we are so I think you are calling the wrong round.
SPEAKER_01Okay, well, I'm sorry about that. I'll uh I'll try I'll try another number. Thank you.
SPEAKER_04Did I dial that wrong? Let me see.
SPEAKER_01I think I dialed that wrong actually. Guys, step number one, dial the right number.
SPEAKER_08I was like, we're one for one on connection rate.
SPEAKER_11Hi, never mind.
SPEAKER_01Jerry, calling about your house for sale on Buena Vista.
SPEAKER_10Thanks, Jerry. Please stay on the line.
SPEAKER_01It throws me off, RJ, because they put the one then the area code.
SPEAKER_03Right.
SPEAKER_01Hello. Yes, hi Angela. How are you doing?
SPEAKER_11Okay, good.
SPEAKER_01Good, good. Yeah, I'm calling about your property. I believe you're looking to sell on Buena Vista Street.
SPEAKER_11Yes, I'm I'm asking for 40. I want 40 for it.
SPEAKER_01Okay, cut right to it. I love it. You want 40?
SPEAKER_11Yeah, 20 up, 20 down. Three bedrooms up, three down. It's a bonus room in the attic, and it's a um half bath in the basement for the bottom unit for a bonus.
SPEAKER_05Okay.
SPEAKER_11If you're gonna ask me, I want to tell you right away. It was a title issue. That's the only one reason why I hadn't selled. It was the title issue. I just got the title clear. I had the high so I don't have any more trouble. And then the the wait, the waiting period has been so long, I just won't close this chapter of my life. Gotcha. There was a lot. A lot going on.
SPEAKER_01Is the property vacant right now or are you living there?
SPEAKER_11No, it's always been vacant. I bought the property in 2022 and I started fixing it up. I started fixing it up myself and then was relying on people saying that they finished and they took pictures and sent to me while I was at work and then they didn't complete because a lot of those the repairs they said they were paid to do. Anyway, but yeah, um this has definitely been a learning experience for me.
SPEAKER_01So Were you gonna were you gonna flip it? Is that what you were thinking of doing?
SPEAKER_11No, I'll be because I'm I'm I am up in age and I'm I'm 66 years old, and I was gonna just try to live off of it for bone, you know, retirement.
SPEAKER_01Okay.
SPEAKER_11But I guess we can't. Um yeah, I rented it. I have two single family homes already rented.
SPEAKER_01Gotcha. So this was gonna be another another property in your portfolio. You were gonna rent it as a duplex.
SPEAKER_11Yeah, it's a two-family though.
SPEAKER_01Two family. And then and then you started renovating it and you got got in over your head or got some bad contractors, and now you just want to get rid of it.
SPEAKER_11Yes.
SPEAKER_01Okay. I think I'm following you.
SPEAKER_11It looks like though. Um I'm telling you, I'm halfway there.
SPEAKER_01Okay.
SPEAKER_11I don't know if you have yeah, so I'm an investor.
SPEAKER_01Did you do the roof?
SPEAKER_11Um, just repairs.
SPEAKER_01Okay.
SPEAKER_11Because it had there's some damage in two of the back bedrooms. So you had the repairs on there.
SPEAKER_01Yeah, I'm looking at a picture that looks like the roof is pretty shot on the yeah, probably needed roof.
SPEAKER_11I ain't even gonna lie.
SPEAKER_01Well, let me ask you this. Uh, I see you had it listed. Did you just take it off the market?
SPEAKER_11Yeah, because it was he it was listed in a way it wouldn't have even been listed. It I entered into agreement back in April with um uh prospective buyer. Yeah, and he after the 30 days, the contract was voided, he didn't void it. He just kept it going.
SPEAKER_01Okay. Why didn't he why didn't he buy it?
SPEAKER_11Um he didn't buy because he was uh wait, I don't I don't even remember now because I told him to take it out. He was still trying to buy find the investor.
SPEAKER_01Was he a was he a wholesaler?
SPEAKER_11I think so, definitely was. He was still trying to find some, like, but then he was trying to get me to do another contract with him.
SPEAKER_01Yeah. I was like, and what price did you have the contract for with him?
SPEAKER_11Well, it was for um, I think 65.
SPEAKER_01Okay.
SPEAKER_1165, yeah.
SPEAKER_01So he had it at 65, locked it up for 30 days, couldn't move it or find a buyer. Did he try to come back and renegotiate a lower price?
SPEAKER_11No, he all he did was say have it still remain in the market.
SPEAKER_01Oh, he had it lit. Oh, so he's the one that had it listed for 55.
SPEAKER_11Yeah, I told him to take it off the market, he never took it off.
SPEAKER_01Yeah, he was trying to do what's called a novation, I think. Did he use that word with you at all? Novation?
SPEAKER_11No, no, he said he was just gonna keep it on just in case he um title clear very soon.
SPEAKER_01Yeah, but help me understand if he had it at 65, I'm showing that the price was at 55 on September 14th.
SPEAKER_11Yeah.
SPEAKER_01Was how was he gonna make money then?
SPEAKER_11I know. Uh it's it's strange because he he was take that's what I uh uh when I told him originally that what I was asking for in the first place. He's the one that took it up to 65.
SPEAKER_01Yeah, yeah. Because he thought he could sell it on the open market for 65.
SPEAKER_11Right.
SPEAKER_01But what was his deal with you? Was it for 40? His price with you?
SPEAKER_11No, it was for um 55.
SPEAKER_0155.
SPEAKER_11Yeah.
SPEAKER_01So he had a deal with you for 55, and then he was trying to sell it on the market for 65.
SPEAKER_11Right.
SPEAKER_01I still don't know how he's gonna make money after closing fees and commissions, but okay.
SPEAKER_11But yeah, I got it halfway there. I gutted it. I put windows in and a lot of units. Okay, I put new doors up, uh glass block windows. I did a lot. I have aspenses removed.
SPEAKER_01So how much uh how much more do you think it needs to to finish?
SPEAKER_11With mudding, then you might have to do floors. Mudding you I think it's under 50,000 under because uh the walls wasn't that bad. I had a lot of um drywall people came in drywall. So you had to finish mudding the walls and painting and then the floors. I started the floors in the kitchen, but it's a spelling stick towel in the bottom of the building, but it's a um I started well I didn't uh I I just put what is that uh porcelain towel and the upstairs kitchen, but it is not down, down secure. I just placed them to see how it would look. But it's towel and the kitchen, you know, you might have to run some plumbing. You definitely have to run the plumbing. Yeah, you have to think if you uh you got a team already got some most supplies, you might come off on top.
SPEAKER_01Yeah, I've I've done a lot of you know big rehabs like this on these old brick homes in Detroit. It takes a lot. It's it's a lot, it takes a lot to rehab these, and it's not easy with with contractors, as you know.
SPEAKER_11Right.
SPEAKER_01They come in and but why but why are you at 40 now? Is that you is that just your like dump it number? You're you're tired of it number or what yeah, yeah, because I say 20 up and 20 down. You mean on the because it's a because it's a two-family 20 20 and 20 get you to 40, is what you're saying.
SPEAKER_11Exactly.
SPEAKER_01Yeah, okay. And how soon are you hoping to close?
SPEAKER_11As soon as possible, to tell you now.
SPEAKER_01Yeah. If we could work out a deal that made sense for you, are you open to uh signing an agreement today?
SPEAKER_11I don't know. I think you should look at it. I got a lockbox in the door.
SPEAKER_01I'll definitely look at it for sure. I'll send my guy to look at it, but I don't want to I don't want to go look at it if we don't have a deal first. Right because otherwise I'll I'll waste my time. I can close that fast. If title's ready, I can close in a couple weeks. I mean, ideally, I've got three or four weeks so I can have things ready.
SPEAKER_11Yeah, my title's that speedy title company is uh everything, all my stuff is ready to go.
SPEAKER_01Okay.
SPEAKER_11They've been working with me with title, right?
SPEAKER_01But I mean, let's say we agree on price. Are you prepared to sign an agreement and and get this done?
SPEAKER_11Yeah.
SPEAKER_01Okay. Would anybody else be mad if we put a deal together?
SPEAKER_11Um I don't see.
SPEAKER_01You don't have to talk, you don't have to talk to anybody?
SPEAKER_11No.
SPEAKER_01Okay, so you you're you alone make the decision. Yeah, it's fine. Gotcha. Okay, good. And what did you what do you think? If I flip this, I I get that you were gonna hold it as a rental, but what do you think it would sell for if I fix it up and flip it?
SPEAKER_11Well, I did some numbers. Houses in that area went from uh 150 to one sold at 175. So it's between 140 and one, I want to say 140 and 160. So if you put it like that's what I'm seeing, by the way.
SPEAKER_01So you're you're looking at I think you're looking at the right numbers.
SPEAKER_11Right. I've been doing this for a little while. I've been checking the numbers.
SPEAKER_01I do, I can get this done. I can I can get this done, I think, but I am gonna need some room on this because Detroit is not easy to do deals. I do a lot of Oakland County, Macomb County. Uh Detroit, you just gotta build in a really good buffer because it's just it's like rehabbing's hard as it is, and then go to Detroit and it's like 10 times harder, you know.
SPEAKER_11Yeah, do you have a possibility? Well, the lot is available next door as well. So the land bank owned the lot or whoever I think you whoever owned the property.
SPEAKER_01Um but you don't own the lot.
SPEAKER_11No, no, but yeah, you're just saying land haven't been keeping really uh up um so they be part uh negotiating with that. Yeah to still get it for a good deal.
SPEAKER_01But yeah, it's it sounds like though getting this done quickly is important to you.
SPEAKER_11Yes, it's definitely because uh it's other projects I got going on. I want to finish those up. I want to open up a uh a daycare, a senior activity center. Monday through Friday, I'll go uh play games with veterans and oh that's cool.
SPEAKER_01Yeah, yeah. Good for you.
SPEAKER_11Yes, I'm trying to do more. My family something. Like have them where they can follow uh family tradition or something like that. Yeah.
SPEAKER_01Well, Angela, 40's not bad, but it's it doesn't give me a lot of safety. Is that the best you can do?
SPEAKER_11Yeah, that's uh because I I was going for 50 and 55, then I went down to 50. And I I because I had to pay that lawyer for doing that, clearing the tire on it. Yeah, and I haven't gotten behind with the taxes and the water bill. I I adopted that water bill because I had to turn the water on for um to see if it you know to see if it's running correctly. That's my neighbor next door across the street.
SPEAKER_01Did you did you end up paying that water bill? The water bills can sneak up on you in Detroit big time.
SPEAKER_11I know, it's like they still charge you for sewage, but rather it's on or off.
SPEAKER_01Yeah. And it stays with the property, so if your tenant doesn't pay it, then you get stuck with it.
SPEAKER_11Yeah, I never had any tenants in there.
SPEAKER_01Yeah. Even from before, though, it'll still be there.
SPEAKER_11I had other people tell me I shouldn't go lower than 40 either, too.
SPEAKER_01Say that again.
SPEAKER_11I say I had other people tell me I shouldn't go lower than 40. Like the ones that's well, they wanted it, but they weren't didn't have the uh capital to buy it.
SPEAKER_01Right. So well, I I do have the capital and I work with a lot of other investors in Detroit. So if I can't take it down, I've got other investors that that are always looking for deals like this. Here's what I would say, Angela. If it's if if 40 is the number, then we can put an agreement together at 40. But here's the thing if I go out there and I get eyes on it, if that rehab is more than 50, then I'm gonna have to come back and talk to you about the number and and revisit that number. If it's 50.
SPEAKER_11My suggestion is to go, I'll give you the number to the live box, you can see your contractor over it. Because you're not the owed me up for other people. You you're not the first one to call me this morning, right? A couple of other people, I'm getting calls uh-huh a couple of them every day.
SPEAKER_01Yeah, I'm sure. Yeah. Well, we could definitely do that. Like, I could get my guy out there, we could take a look at it, get eyes on it. My worry is that while I'm messing around, you sell it to somebody else, and then I spend all the time, you know, running numbers and sending my contractor and all of that. I would prefer we have an agreement in place, you give me five days. I I might not even need the five days, but you give me five. Five days, I really do proper due diligence. I get my my guys out there, I get my investors out there, and I and I really make sure 40 works. Because I can't invest all that time and energy not under contract, and I call you back and you sell it to some you've already sold it to somebody else. See the dilemma we're in. I get your perspective. You don't want to lock it up and then I back out. But all I all I'm asking for is a couple days.
SPEAKER_11You can still, and that's why I say the only way I can do that is you put something down like a deposit for a thousand dollars and you know you're serious or something like that.
SPEAKER_01I'll put down more than that for a deposit. I'm not worried about the deposit. I'll put the deposit with title, but not until I see it. So just give me what I here's what I'm asking for. Let's let's do this. If if you can make it 30, then this is a no-brainer. I don't I don't really need to do much. If it's 40, then let's sign an agreement. I'll send it to you in the next couple of minutes. You sign that. In that agreement, it'll say I've got five days. At the end of the five days, if it pencils out, then I'll put $5,000 in earnest money down with title. We'll go to your title company since they already did the title work. And we and we can close in a couple weeks after that. If I go out there and it's not 50, it's a hundred or whatever. I know, I know you're saying it's not, but if I go then I'm gonna then I'm gonna come back and I'm gonna say, Angela, 40 doesn't work. What do you want to do? If you if you wanna if you want to revisit the number, we can. If you don't, then we terminate and you sell it to somebody else. Like you have that option.
unknownYeah.
SPEAKER_01And that feels like a fair way to go here with this. Because I'm giving you your number, 40, even though I want it for lower. I'll give you I'll give you your number. I just need you to give me in return, give me a couple days.
SPEAKER_11Yeah, that's a thing. Um I don't want to be locked into nothing right now. But if I I can give you, like I said, the lockbox code is 1829. 1829. Um I don't know. That's uh best I can do for now. I don't want to lock into nothing.
SPEAKER_01What what if what if we made it shorter than five days? What if we made it two days? Can you can you hold it for me? In other words, sign an agreement with me. I've got two days to respond. I got two days to go hard on the contract.
SPEAKER_03Yeah, but you try to give me 30.
SPEAKER_01No, no, at 40. I'm saying at 40, at the price of 40.
unknownYeah.
SPEAKER_01So I agree on 40. You give me two days to get out there and get eyes on it. If I can't make 40 work, then in two days our contract's null and void.
SPEAKER_11Let me talk to my sister. I'll call you back.
SPEAKER_01What is it you need to talk about?
SPEAKER_11Uh I just I don't make I I already know. I need to wait.
SPEAKER_01Wait for what?
SPEAKER_11To see. Uh I I don't know. This is just a matter of guess where you go have somebody check that out.
SPEAKER_01No, it's just my team's busy, and if I'm gonna get my head around it, I gotta send people out there. And I sending people out to a property that I don't have under contract has never worked out for me.
unknownYeah.
SPEAKER_01So I just I mean you're asking for me to commit to a price of 40. I'm asking you to give me two days. It feels to me like a fair trade.
SPEAKER_11Yeah, I gotta think about that.
SPEAKER_01Why?
SPEAKER_11Give me give me about 30 minutes, I'll call you back. Jerry?
SPEAKER_01Jerry's my yeah. Tell me that lockbox again.
SPEAKER_11It's 1829.
SPEAKER_01I might even be able to get there today. I gotta see if my I just I really would like to have an agreement in place with you so that way. What if I hang up with you? I send my team out to your property, someone else calls you, and they tell you they'll pay 40, and now I'm out.
SPEAKER_11Everybody's doing that. Everybody's doing that.
SPEAKER_01Everybody's doing what?
SPEAKER_11Asking for the same thing.
SPEAKER_01Are they telling you they'll pay you 40 and you give them two days?
SPEAKER_11You just said two days, but they saying five.
SPEAKER_01I know, I'm saying two. I'd like five just in case my guys are busy, but I'll make it a priority.
SPEAKER_11Yeah, I gotta think about this one.
SPEAKER_01Yeah, I guess I'm helping what your dilemma is. Is it taking it off the market for two days?
SPEAKER_11It it shouldn't be on the market.
SPEAKER_01No, I mean, I mean, not for sale anymore. Is it telling other because you would have to tell other buyers, hey, I got someone call me back in two days if he doesn't want it. That's what you'd have to say to someone else that calls you. Correct. But we're talking about two days here. Not not two weeks, not two months. You're the other guy strung you along for 30 days. I'm talking about two days.
SPEAKER_11I still gotta think about it. I guess I'm getting calls. I want to I I I want uh CAS ASAP. I don't know.
SPEAKER_01Well, anybody that you talk to is gonna need to go look at it. So how are you in let's say we don't, let's say I go out there right now without a contract with you. I send my guy out there, he goes out there tomorrow, and then I call you back. Hasn't two days gone by anyway?
SPEAKER_11Yeah, but it's uh like I said, so it's either way, you're waiting two days. Either way, I'm waiting for the best one for me.
SPEAKER_01I'll just but you're gonna tell the next guy, go look at it. So you're gonna be waiting two days. Yeah, I don't know. I'm just I'm just trying to follow your logic, is all.
SPEAKER_11Let me call you back before the end of the day. Or I'll give you a answer before five.
SPEAKER_01Okay, so you don't want to wait two days, but you're willing to wait to give me an answer where we're gonna lose another day.
SPEAKER_11Yeah, because I I want to ask, I want to make sure I'm doing the right thing.
SPEAKER_01Who is it you're gonna ask?
SPEAKER_11Oh, somebody that's close, very close.
SPEAKER_01Okay, all right. Well, let's do that. I'm ready to go, and I'm gonna I'm gonna check with my guy right now that runs and looks at stuff for me. Yeah, and I'm gonna see what his availability is. I've just texted him.
SPEAKER_11Okay, really. Okay. Um, okay, I'll let you know.
SPEAKER_01All right, I'll I'll watch for your number. Do you have my number saved? This is my cell phone.
SPEAKER_11Yes, I got it.
SPEAKER_01What's my name?
SPEAKER_11Jerry. I told you.
SPEAKER_01Sorry.
SPEAKER_11My friend. Okay, I'll call you back.
SPEAKER_01Okay, Angela, I've been doing deals in Detroit for 21 years, so I I know what I'm doing there.
SPEAKER_07Okay.
SPEAKER_01Okay. I won't, I will not string you along. If I can do it, we'll move forward. If I can't, I'll tell you. I'll just be straight with you about it.
SPEAKER_11Okay.
SPEAKER_01Okay.
SPEAKER_11Sounds good.
SPEAKER_01All right, call me back then.
Debrief On Title Issues And Fear
SPEAKER_11Okay, I will.
SPEAKER_08That was uh brittle. I I hate those types of sellers where you overgave them every objection. What's funny is I thought it was odd that you asked earlier on in the conversation, is there anyone else that you need to talk to? And she's like, no. And then it comes out. It's like, well, I need to talk to my sister. There's this other person who's advised me. Then again, it was there's somebody else that I really trust, and they know that I'm gonna talk to them to make sure that I'm making the best decision. But I think the the major takeaway here for everybody is that there's a new development happening with within our stellar conversations, and it's coming from our competition. It's the failed novation that's that's causing her to act this way.
SPEAKER_01For sure. She's so reluctant to lock it up because of a bad experience locking up something. Yeah.
SPEAKER_08The only reason why she's treating you the way that she's treating you is because the previous guy came in and locked her up for 30 days, refused to remove the listing off of the MOS. I mean, put yourself in her shoes. She's just scared. That's all it is.
SPEAKER_01Uh me being honest, in this instance, it sort of hurt me because I'll bet you I could have slid under there uh a contingency, sent her the contract, she signed it, maybe, maybe, and then and then I pull a uh a switcheroo on her. But that's just not how I'm gonna roll. I'm gonna be honest with her. I'm gonna tell her look, if I get out there and it's not 50, because 50 works. I think there's a deal there, but if that rehab and it's a big old Detroit house, if that thing's anywhere more than 50, it ain't a deal anymore. Right. I'm just being honest with her.
SPEAKER_08But I thought you did a great job of being like, so you won't give me two days, but you're willing to waste one right now.
SPEAKER_01I mean and you're gonna waste two anyway if I go look at it first. Right.
SPEAKER_08But I don't think she cares about that because what she never actually said was is well, Jerry, I'll waste your time. Yeah. Because if someone comes along and offers me 40 and they don't need to see it, I'm taking it and we're closing.
SPEAKER_07Yeah.
SPEAKER_01But what she doesn't understand, no one's gonna sign a sight unseen contract for 40k in Detroit. They're gonna either they're gonna go look at it first and then sign, or they're gonna sign with a contingency and then go look at it. No one's gonna sign blind at 40. Correct. Or they're gonna lie to her, you know, and then back out and not put, you know, they're gonna they'll do that. Right. People will lie and then ghost her, so it's tough because there's there's it's like we're right there, or it's like we're right there.
SPEAKER_08Right. I mean, it's almost like it's a closed deal. It's just she needs to go get verification from somebody else, but the issue there is she's not gonna get verification from anybody else. No, they're gonna say, no, he needs to go see it. He needs to go see it before you sign anything. Remember what happened with the other person?
SPEAKER_01So it's not wrong, RJ. I mean, it's not bad to make someone go see it before you sign an agreement with them. I get that. She's not wrong there. It's just let's do some give and take. You know, I'll give you your number, give me two days. You know what I mean? Like, I don't know what else. There's got to be a little give and take here.
SPEAKER_08Yeah. There was no there was no give on hurry whatsoever. Uh I don't know, man. That's one of those calls that I was just sitting over here, and I'm like, I really wish I could have this conversation. But then every time that you would say something, it was like, well, that's what I would say, and she didn't give you the response that we were hoping for. So I was like, I don't know. I there was probably other things that I would have said on top of it, but you had already said like 25 things to overcome her objection. So at some point in time, it's like, okay, you're gonna scare her off. You almost have to concede at some point in time and just be like, okay, take your take your time. Call me at five.
SPEAKER_01Yeah. I was are at the end, I was arguing with her, and you're never gonna win arguing with a seller. You know what I mean? Like, you gotta just go with their go with their process or or don't, you know.
SPEAKER_08Yeah. All right, I'm gonna call, funny enough, with the astronomical size of leaves that we have, I'm calling the first one. Calling the first one. So I don't ever do this either. So let's see how this goes. It went went horrible. It went straight to voicemail. I should have, I should have never. I I said it at the beginning. I really like these uh vacant, non-occupied properties, and I was like, I'm gonna call it everyone. I have I have no idea why in the world I would ever try to listen to to Danny Force. I should have just completely ignored him. I mean, he's from OU. I mean, they don't even know how to play football there.
SPEAKER_01Are you a football fan, Jerry? You know, I played football in high school. I love football, but I I don't make a lot of time to watch it.
SPEAKER_02What position did you play?
SPEAKER_07Uh guard. No, no.
SPEAKER_03That was a pretty small guard. We are not available to take your call. If you want to leave us in that number, I'll get back to you as quickly as we can.
SPEAKER_08Five. All right. Too much information there, buddy. We're we're live on YouTube. Promoting your company and and everything else that's coming along. Guaranteed that we need to get it called right now.
SPEAKER_01Danny said RJ played left out in high school.
SPEAKER_08I know, which is crazy.
SPEAKER_00I mean.
SPEAKER_08Yeah, when when Danny is not an element twenty-two, now you know what happened.
SPEAKER_01Yeah, he's tough he's he's tough on the internet, but let's see if he says that to your face, RJ. He just couldn't keep his mouth shut.
Investor Seller Refuses Wholesaling
SPEAKER_08Hello?
SPEAKER_03Yeah. Yeah.
SPEAKER_08Is this Keonday?
unknownYeah.
SPEAKER_08And this is RJ Bates. I've caught a bunch of property there on Amber Drive. Looks like you were interested in selling that, is that correct?
unknownYeah.
SPEAKER_08Fantastic. How much you looking to get for it?
unknownHow much you want to know?
SPEAKER_08I don't know anything about it, man. Just all I know is the information that you gave my team or filled out for my website. Call and find out how much you want for it, see if it's a good fit, say yes or no.
SPEAKER_03Yeah, I said I sell it. I mean y'all called, I didn't I didn't call y'all. Y'all called me. I think somebody called me on the phone last week.
SPEAKER_08All right. Well, it's a vacant property, right?
SPEAKER_03Yeah, it's vacant.
SPEAKER_08All right, what I'm in Fort Worth, Texas.
SPEAKER_03Oh yeah. Yeah, it's vacant. I've never lived in it. Um, yeah, I keep getting all these calls, screen calls from people calling my sell my property. You know what I mean? They want to sell it, bro. I mean, I want to sell it. Yeah, you cut me out. That's what I said. I'm getting all these screen calls, but you know, I got a lot, I just got my lot going on, so you know what I mean. So I just be like, hey, if you want to buy it, buy it. Just make it make it two years as I had it. I haven't been anything with it. I was gonna fix it up and do it, but I just hadn't got it. So people call and say they want to buy it, they can buy it.
SPEAKER_08Okay, does it need a lot of work?
SPEAKER_03Yes, it needs a full remodel. I mean, everything's in it, but it's it's not in good condition. These rooms, basic, eating, everything.
SPEAKER_08What was your plan with it?
SPEAKER_03Uh bathrooms, redo the kitchen, I had to redo everything.
SPEAKER_08You were gonna flip it.
SPEAKER_03Well, I was looking either that or rent. Um, it was a uh my first property I I bought. I didn't know what I was doing, and I got it. And it's it's it's not, yeah, I bought it's like I see. So it was it's it's way too much of me. So, yeah, I'm not, yeah, I was gonna do it, but it's gonna be a lot of money for me to do it.
SPEAKER_08So why didn't you why didn't you just sell it to another investor?
SPEAKER_03I mean, that's what I'm probably gonna do.
SPEAKER_08Exactly. Me.
SPEAKER_03I mean, that's what's what's gonna happen. I've had a couple people come by, they say they contracted by this provider top that uh look at it, like that's what you don't get. Um so yeah, I mean that's what's uh I think that's what's up. Yeah, I think I said it's my property. Um a tax sale or something like that. It was a share sale or something. Like I said, I didn't know I'd know. I didn't know, like I said, I bought a property, I was like, I see. And uh was like it was real high. I didn't know don't be that high. Like I said, I didn't I just didn't know. The property tax bill, I didn't have to pay with like eighteen thousand. You know what I mean? Just on property taxes, back taxes. Right.
SPEAKER_08So then how much how much did you pay for it before the eighteen thousand?
SPEAKER_03Eighteen thousand.
SPEAKER_08Oh eighteen thousand. So just eighteen thousand total.
SPEAKER_03No, no, no. That's what I was thinking. You know, I had to pay the back taxes on it.
SPEAKER_08Oh thirty-six.
SPEAKER_03So yeah, I'm I'm probably into it like thirty-six.
SPEAKER_08Oh, that's no good deal though. I mean I'm okay.
SPEAKER_03I'm into it like thirty-six six, because I I gotta keep the yard bankers up.
unknownRight. Um, I've been keeping yard bangers up because I got a couple of bang on the door, so I had to keep that up.
SPEAKER_08So I've been there, so I had to keep a yard bankers up. So where are you what are you buying your deals at now?
SPEAKER_03I'm not I'm not right now, I'm not doing nothing right now.
SPEAKER_08Oh, okay. I thought you were saying that I thought you were saying you had like other projects, other flips going on and stuff.
SPEAKER_03I do got another property. I got one more other property, but nah, I'm not even I got another market, but I got another property, but uh it's too much for me. You know what I mean? That's my first property I bought.
SPEAKER_08Yeah.
SPEAKER_03So I'm gonna get rid of it. I mean, I'm gonna end up getting rid of it.
SPEAKER_08So are you trying to make profit on it or just like get your money back?
unknownNo, I'm not gonna lose the money on it.
SPEAKER_08Yeah, I know, but I'm saying, are you trying to like make a bunch of profit or just realize like, hey, 36,000 is a pretty decent deal for another investor, you can get your money back and move on.
SPEAKER_03Well, I talked to I talked to a few people, and you know, so I did a little research. So I mean, I know when it can be worth fixed up because one of the contractors that came by, one of the guys that came by that was looking at it, he has to fix the property right across the street from and it's built the same way. So he had to re-bid that. And he came to be on it if I wanted to keep it in doing. And that's why I kind of so that I was thinking about it. A great bid on it. Well, I could keep it in our bid.
SPEAKER_08Well, what was his bid?
SPEAKER_03I think it was like 40 or 50.
SPEAKER_08Okay, I was lean, I was leaning towards 50. But that makes sense.
SPEAKER_03Yeah, he could all there like fifty. But either way, I thought I I didn't have that anyway right now. You know what I mean? I mean, I can get that up probably a little bit. But so I I was I was debating, I was debating it for a while.
SPEAKER_08And uh and how much do you think it could resell for?
SPEAKER_03Uh the one it's one across the street. They redid. We gotta bring it out, though. I think they bring it out. They gotta bring it out back, they put it. But uh resale, I mean I know you know your word on work about it. Um I think it's about the sale buyers released by hope, I don't know, 150, something like that.
SPEAKER_07150?
SPEAKER_03Yeah, what you came up with.
SPEAKER_08I was well, you got 136 in the area, you got a couple of newer ones that's over 200 and 170.
SPEAKER_03Uh yeah, I thought one like it's only a couple of times over 200. Yeah, I thought that was over 200, like in May or something like that.
SPEAKER_08Yeah, on Amber Drive. The problem is that one was built in 2003. So I'm a little bit worried about the 20-year age difference. I'm probably I'm probably pretty close to where you are on that that 150 number.
SPEAKER_03Yeah, I mean, yeah, there's a point a lot. It's a big lot.
unknownBut uh, yeah, I I've seen that. Yeah, I've done my I've done a little research myself, so I looked at it. But it is, yeah, I said I've never flipped no house.
SPEAKER_03So that's that's that's a lot of over there house.
SPEAKER_08So I know you said you want to sell it or you're gonna sell it to an investor. I mean, what are you what are you waiting on? What's what's gonna be the moment that makes you pull the trigger?
SPEAKER_03The price.
SPEAKER_08Okay, well, when people call and ask you what the price is, why don't you tell them what the price is?
SPEAKER_03I I've had people come in with I need 24. I need oh no, that's not gonna that's not, you know, I had people come in with overall office and I was like, nah.
SPEAKER_08I know, but I'm trying not to lowball you, but you kind of forcing me to.
SPEAKER_03Look, look, nothing offends me. I I I promise you, that didn't offend me. I'm gonna just tell you, nah, nah. I mean, nothing offends me though. You know what I mean? So you you do it. I like people that give me straight. I tell them anything, I'm gonna I'm gonna straight shoot him. I'm gonna tell you what, hey man, this is what I can do.
SPEAKER_08But you ain't shooting. You can't be a straight shooter if you never shoot. I've asked you what your price is, like 72 times, and you won't tell me. Well, we I mean, I it's easy for people, you know what I mean, to shoot me an offer call and I tell them, nah, yeah, they're like I said, you think my offer's gonna be higher than whatever your your asking price is?
SPEAKER_03I I I I don't I'm gonna tell you this. I don't know. That's possible. But we got like I said, I've got asking on negotiating, like I said, I'm doing it. But the thing is, I tell everybody I got to tell you, I gotta tell everybody else.
unknownI'm not taking a law zone. And I'm all in on 36. 36 miles, somewhere around there. And um, I know I've been paying doing a yard maintenance, the roof had a leak.
SPEAKER_03I had to get that patched up because it was, you know what I'm saying. So, yeah, so I had to send somebody over to do that. I think I paid about three million rent. So I I just know what I just from holding up, just from holding the property. And uh I had to pay property taxes on top of the. See, when I bought the property, I thought the property taxes would be in the price, you know. Usually that's how it goes, but I guess not. You know, I mean, on that property for something. I don't I don't know. But I end up having to pay the property taxes separate and uh and the price of the uh house.
unknownYou know what I mean?
SPEAKER_03I got, like I said, I got receipts of everything, the property taxes are up to date, everything's up to date. And um, yeah, I'm definitely gonna get rid of before I depend the property taxes in D.
unknownWhat is it, D Center?
SPEAKER_03I think it's December. Because I've already got the um the uh whatever they call it in the mail. But um, yeah, I just tell everybody saying that. Anything on the 30, anything under what I've what I've uh when I've spent, I just can't take a loss on it. Me personally, man, because I I work around the work now with a regular job. I work a regular job. Um, so I can't take a loss on it. I know a lot of y'all investors, y'all billionaires, y'all, y'all, you know. It don't pay it all as much.
SPEAKER_08I got you. So you so you want you want 37,000.
SPEAKER_03I said I'm not taking basically I'm not taking less than that. So anything you think of less than that, I'm not taking less than that. That's what I'm saying.
SPEAKER_08All right. I'm not gonna pay, I'm not gonna pay anything more than 37,000.
SPEAKER_03So 37 is third high advance.
SPEAKER_08Well, you're not gonna take anything less. I ain't gonna pay anything more. Looks like we just came to an agreement.
SPEAKER_03Because I was thinking about, I talked to a brother, I'm thinking about throwing it on the market. That's what I'm that's what I'm leaning towards now. Just throw it on the market, see what it invests with, you know what I mean?
SPEAKER_07For how much?
SPEAKER_03That's the tricky part. Honestly, because I already know I throw it out there, I had a number, they're gonna try to they're gonna low barbie still. I know how they go. So I'm not gonna, you know what I'm saying? So I'll probably throw it out after about 49. Then they had somebody come in and low bar me for around.
unknownProbably 40, 45 somewhere in there. That's what I that's what I'm thinking gonna happen.
SPEAKER_03And I think about I think about 45.
SPEAKER_08Okay. And then you're gonna pay, and then you're gonna pay $4,000 in commissions and closing costs.
SPEAKER_03If I get $45 out of the door for me, yeah, I'll sell it out for $45 out of the door. But like you said, I have to pick out all the health stuff. If you want to price for me right now, I I sell it for $45 right now.
SPEAKER_08I know, but you didn't tell me that. I probably would have said yes to that five minutes ago, but I told you that I'm not going about 37 because you said you wouldn't go below 36. Well, I want to get I want to make a little something, but I'm just gonna go. I know, but when I asked you that, you didn't answer me. See, this is the problem. When you say you're a straight shooter and you're not, you get five.
SPEAKER_03So look, I mean I'm not a I'm not a real estate professional negotiator.
SPEAKER_08I know, but bro, I made it as easy as possible for you. I just said what's your asking price that now you told me, and but now I I can't lie. I told you I wouldn't go above 37. Listen, if you listen for 45 and you get 45, that's not what you're gonna get, because you got to pay the commissions and you gotta pay the closing costs and prorated taxes and all that out of it. And that's if you get 45.
SPEAKER_03Yeah, that's if I get 45. I don't know. But I'm still gonna test that, I'm still gonna test the water with it and see what I can. I said I would listen probably at 49. Oh, I talked to the real and see what exit is. But I'll probably listen at 49. I know and then they're gonna go by all that, come in, pump it with yourself somewhere around, you know.
SPEAKER_08So what so what happens if nobody gives you what you want and you gotta pay those property taxes again? I ain't gonna wait that long. What do you think? What do you think happens when you list the property on the market? You think just everybody comes rushing for distressed properties?
SPEAKER_03Maybe maybe I'm thinking investors will you're calling me out. So I'm gonna tell you what I'm gonna get what I'm gonna do then. I I the people that low ball me, I'm gonna call them back. Like guy like somebody like you, I find, hey, if I can't get nobody, maybe I will take 37 at the end of the day. But that'll be at the end of the room. I'll not find out if I can't get no one.
SPEAKER_08But my offer is uh is 27 the moment that uh we hang up the phone.
SPEAKER_03It's 27.
SPEAKER_08Yeah. It's 37 right now. You say no, you call me back because I get these all the time. I'm like, I'm sorry, man. My offer's 27 now.
SPEAKER_03I'm gonna tell you something. I had a guy like that. I had a guy that offered me 40,000, banking like that where he wanted to get ready to call on it. And he was open. And I I said no, and I held on to it. I said, nah, I held on to it. I called him back a couple months ago. He did the same thing he just did. And now he wanted over before it was like, that was me and that. I said, you know what, man, you're right. So I did it. And give me, that was my fault.
unknownIt was my fault.
SPEAKER_03So you're gonna do it again? Yeah, I'm gonna do it again. It was my fault. I should have taken it in. I could have I I I I was ready, but it was my fault. You live and you learn.
SPEAKER_08So what what is the what is the importance of the $8,000 to you? Because I'm offering you 37. You said you would accept 45. What's the importance of the 8,000?
SPEAKER_03That's a lot. I told you I work on work. I work in a plane. I work a regular job. It's a that's a lot to me. I work that's what I'm trying to say. I work a regular salary job. I don't, I don't make what y'all make. You know what I mean? I'm not a business thinking I'm gonna cut a couple hundred dollars a year, or maybe you might make more than that. I don't make that. There's a lot to me. You know what I mean? A couple hundred dollars is a lot to me. It's all it's a it's a big difference to me. You know what I mean? That's the that's the difference. You playing, you know what I'm saying? If I was playing with a, if I made, you know, five hundred thousand dollars a year, I wouldn't care about that. You know what I mean? But I don't make what y'all make, what y'all investors make. Y'all I know y'all make a crazy amount of money, and it's just different. Y'all, y'all know hey, yeah, all that. You know what I mean?
SPEAKER_08All right. All right, hold on. Let's talk real talk now that now that we got past the formalities here. All right, you said you want 45.
unknownYeah.
SPEAKER_08How long were you gonna wait to list this with a realtor? Were you gonna do it in the next week?
SPEAKER_03Um I mean, I've been talking to it late. Um, I mean, I've been talking about it so I can get it out there.
SPEAKER_08Who do you like more, me or her?
SPEAKER_03I like money more.
SPEAKER_08So I like money.
unknownThere's always money.
SPEAKER_03If you gave me a week to try to get you the 45,000, would you give it to me?
SPEAKER_05I gave you a week?
SPEAKER_03Yep. So we're trying to do a wholesale offer?
SPEAKER_08Yep.
SPEAKER_03I don't want to do it.
SPEAKER_08Why? It's the same damn thing. I need a week and I can get you the forty-five thousand dollars and there's no commissions, there's no nothing taken out of it. That's straight $8,000 in your pocket. You just told me that that means a lot to you. So why would you not let me do that?
SPEAKER_03Uh if I go there, right, I'd rather this, I'd rather this list, I'd rather dismiss it with a little bit.
SPEAKER_08You would rather pay a commission and closing golf, you would rather make less money. You just told me I work a regular ass job, I don't make nothing, and every a couple hundred dollars matters, but four grand to a realtor. You're okay with that?
SPEAKER_03Yeah, and this is the thing. I went down that road with a whole stuff.
SPEAKER_08Not me. Not me. Listen, you don't go into a restaurant, eat, get food poisoning, and then write off every restaurant.
SPEAKER_03No, I I I did it, man. I did it. And like I said, man, I got to a I'm really looking for an end buyer.
SPEAKER_08I know, I gave you my price. You didn't like my price. Now I'm saying I'll give you your price. I need a week, and you won't give me a week.
SPEAKER_03If you and an investor, the hand buyer, so you say you'll pay 37 right now.
SPEAKER_02I'll pay 37 right now.
SPEAKER_08Or I'll give you 45, you give me a week, and I'll put the eight grand in your pocket.
SPEAKER_03I'd rather we meet in the middle, and you buy it. And I don't have to deal with the why to deal with the wholesale.
unknownI don't want to deal with the wholesale.
SPEAKER_03I I went out I went down that road one time with it with a wholesale.
SPEAKER_08That's why I said it got banged out at the I know, but I just I just thought, but listen, I just overcame that. That doesn't make any damn sense.
SPEAKER_03You wouldn't mean that, but I I I learned my lesson on that one time. I've already learned my lesson. I I don't want to be cut a wholesale. He did it one time, I just like no. He held my property up. I had to sign off on paperwork. He held my property up uh uh over a month.
unknownYou know what I mean?
SPEAKER_08Did he tell you he was a wholesaler?
SPEAKER_03Yeah. He told me he was a wholesaler. I mean, he just like he said first, he's an investor like you, and then they they buy, they buy themselves and they wholesale and they do it all the way. But he had signed off, he had my property of over a month.
unknownYou know what I mean? Oh, you know what I'm saying? Then the guy hit somebody back now, I you know, earnest money.
SPEAKER_03It was it was a night out. I don't I don't want to be wholesale. I just don't want to do it. I just need a local, I need a buyer. I didn't got no local buy, but I prefer a local buy, man. Oh that's what I do prefer. So I'm gonna have to deal with it. I prefer somebody who's going to invest in themselves. So I know it's legit. Wholesal it is is bad. It's like a bad taste in my mouth.
SPEAKER_08You you understand local buyers fuck people over all the time too, right?
SPEAKER_03Yeah, but I I wholesale it, I I didn't know what it exactly I was. I had to get it broke down this way. Now I know what it is. So I know exactly what it's like.
SPEAKER_08Break it down for me. What is what is wholesale? What do you think it is?
SPEAKER_03I I somebody that's gonna sign somebody that's gonna get my property on assignment and find another buyer to buy it somewhere within their network.
unknownThey're gonna send it out to other investors and get somebody else to uh buy themselves.
SPEAKER_03I'm gonna have to open it up and show it to them. Or they're gonna have to, you know what I'm saying, show the property to them, they're gonna come look at it. Basically, you're gonna get basically gonna like hold them, hold my property, get somebody else to buy, you make a five thousand, eight thousand, whatever, you're making money off the top. And you get, you know what I mean, what the problem they have on that, man.
SPEAKER_08Oh so I just want to make sure we got this correct. So you're gonna sign an agreement, and then they're not gonna buy the property, but you have a signed agreement that you have to abide by, and then they're gonna go find another buyer to actually buy it, and then they're gonna make money for doing that. That's what you think wholesaling is, right?
SPEAKER_03Yeah.
SPEAKER_08Now, what is a realtor? You're gonna have a signed agreement, they're gonna go find a buyer to buy it, and then they're gonna get paid a commission. It's the exact same thing, isn't it?
SPEAKER_03Yeah, but yeah, but majority time be doing it out there.
SPEAKER_08I just now the difference is that realtor is gonna ask for a 90-day to a six-month agreement to where you could never sell it through anybody else. I'm asking for seven days to give you the eight thousand dollars that you just said means a lot to you. Now, if you if you're like, hey, but I got this bad taste in my mouth from this other guy, you can look me up.
SPEAKER_03I get it. I get it. You don't have to sell yourself on the wholesale.
unknownI get it.
SPEAKER_08Now, if you want to meet in the middle and let me buy it, all right. What's what's the middle?
SPEAKER_03Between 37 and 45.
SPEAKER_08So you'll sign an agreement right now for 41,000 as long as I buy it.
SPEAKER_03See, you better try to play wholesale it, man. I see nothing you're about to do. You still gonna try to I I can feel it. You're gonna wholesale it, and you're gonna have some trickery in the contract trying to wholesale. I I don't want to, look, I don't I don't want to do a wholesale. I don't want to do a wholesale. Whatever some point, I'm gonna talk to a wholesale idea. I don't want to deal with wholesale, man, because I don't I uh I just don't want to deal with it. You know what I mean? I thought you like those investors. You probably probably are invested.
SPEAKER_08I've literally been on on A E for flipping houses. I've been on national television. I had my own show. You think I you think I just wholesale? I've owned properties in like 15 different states. I flipped houses in Hawaii, Alaska, Arizona, Mississippi, Alabama, Florida, Georgia, Texas, Ohio.
SPEAKER_03Well, hey, I'm not saying this, man.
SPEAKER_08Hey so my question to you is do you really want money? Do you really want to do a deal, or are you trying to kill this?
SPEAKER_03I really want to get what I want to get out of money, which is what I said. Like I told you, I'll go ahead, I'll get you an ad on and sell it. So 41 $41,000, you'll sign a contract right now.
SPEAKER_08I said $37, you said $45, that's eight. Half that's four, forty-one thousand.
SPEAKER_03Yeah, I'll definitely do $41,000.
SPEAKER_08You'll definitely do it. Now, while I write this contract up for $41,000, can I just tell you how I disagree with your decision and you should have taken the 45?
SPEAKER_03Well, fucking, I I don't need I care less about all that. All I care about is get rid of the property and and move it on. That's it. I don't care about any of that, wholesale it. I don't that I I don't know. I don't everybody, everybody has a whole bunch of people they know personally that'll take the deal off their hand. You know what I mean? I I look everybody's getting uh I don't want to deal with that. I've had other wholesalers called me, but after that guy there, after that guy did that, I'm gonna tell you I got you there. It's my fault, man. I I like going down that road again. You know, wholesale.
SPEAKER_08What if I showed you how to wholesale?
SPEAKER_03Look, like I said, I I like I said, if you've done all that, you've been on AD. Yeah, I I can I I can use somebody showing me how to do some stuff in the real estate world. And like I said, man, that's that's what I opened to a type thing. That's what I do need. You know what I mean? This is that's what I do need, but that's another ball game. That's a that's another conversation for another day.
unknownYou know what I mean?
SPEAKER_03For that trying to get into doing that, wholesale and again, like I said, I want to flip. I definitely want to flip, but I'm not, that's another day, man. Right now, I just want to sell this property.
SPEAKER_08Well, you're about to. This contract's about to be in your email in about two minutes.
unknownGotcha.
SPEAKER_03You got my email then, don't you?
SPEAKER_08Let me look. Can you text it to me real quick? Yeah.
SPEAKER_03Yeah, I text it to you.
SPEAKER_08I'm about to I text it to you. All right, so what are you what are you not? You said you were about to say you don't want something.
SPEAKER_03I don't want no wholesale, nothing. I don't want to get a contract. I don't want no wholesale nothing. I I I can just feel it, though. You've been the driver. I can feel it. You all you stuck on wholesaling. You still want it. For some reason, I don't know what it is. I get it. I get it. You're stuck on a wholesale in. I know I know what you want. People that people I can get to I can get to fifty thousand, man. I can get to this. I can get to that, man. I can get you. I yeah. I I saw the big numbers. I saw the human number that was I can get you there. And I was like, what? And I sign off. And I see where I got me. Rolling up my property, man. Be paying property taxes. Well wait. That's it. Getting this yard done. So I know I know what it I know what it is, man. You can you can say you can get me $50. You can tell me any kind of number. You know what I mean? You can make it sound good as you want, and that I bail for it. I bail for it.
SPEAKER_08You uh do you you watch wrestling?
SPEAKER_03Listen, man. I used to love wrestling. But this was kind of funny growing up. But this listen, man, before we get into all that, I'm not getting into all that. I I I know I know what I know now. Like I said beforehand, you would have gotten. I know what I know what people gotta pay for the crop. You know what I mean? I know I I I I know what you're gonna pay for. So if you're telling me a big number, telling me you're gonna give me a big number. I'm not gonna go for it because I know it. You know what I mean? I don't I don't see nobody paying no border. You know what I mean? Somebody, you know what I'm saying? Let me say somebody. I've been a little more twenty the twenties, twenty, twenty five. I've been a little more in the car. You know what I mean? So you trying to tell me you're gonna give me 45. Uh that means you gotta get your money off the top. That means you gotta sell a property for at least 50. You sell that.
SPEAKER_08I I do. You said a realtor can do it. I don't know why I can't do it.
SPEAKER_03You gotta tell it for at least 50 something. So I I that's not what I'm talking about here, man.
SPEAKER_08I got you. Well, that's why I'm sending you the contract for less money, because you you want to take less. Did you text me did you text me the email?
SPEAKER_03I'm driving, I'm driving on the edge of the letter right now.
SPEAKER_07All right, well tell it to me.
SPEAKER_08All right, so when are you gonna be able to to look at this contract?
SPEAKER_03Uh I get to uh work and work for my road, so yeah. Uh it's two o'clock. I might be working by three with this. Um yeah, I'm working at so I live in the house.
SPEAKER_08You can't pull over.
SPEAKER_03I gotta be working three.
SPEAKER_08I know it only takes two minutes.
SPEAKER_03Uh on a highway and have one up this all highway. I don't know where Atlanta, yeah. I guess you over there.
SPEAKER_08Oh, I know where Atlanta is. That traffic sucks. Yeah.
SPEAKER_03And I I live in Columbus. You know how far that is?
SPEAKER_08Yeah. Yeah, buddy. You need you need to you need to change your your your career path over here. You were on the right one. You got a good deal. I don't know why you you you didn't do anything with this.
SPEAKER_03Yeah, I had a good deal that could have got that was local. He was a local buyer. And that's why I screwed up. And yeah, I screwed up with it. I could have sold it a bit.
SPEAKER_08I know you're trying to screw up right now. I'm trying to just not let you screw it up.
SPEAKER_03I screwed it up. Somebody got other, they got other high money tied up over there. He got these other contracts working on these houses. Uh, you know, so they tried to lowp off me and I was like, man. Yeah. I screwed up. You live when you learn though.
SPEAKER_08I know, but you but you right now you just live it. Make sure you're learning too.
SPEAKER_03I got you.
SPEAKER_08All right. I got I sent that contract to you. Uh there's no way in the world you can pull over and read that for two minutes.
SPEAKER_03I ain't gonna have no dog to do anything.
SPEAKER_08What does the what does the GPS say? You get in there right at three?
SPEAKER_03Uh I say at 248.
SPEAKER_08Exactly. You got 12 minutes to exit, pull over, read this contract, let's do it. You did the GPS at 248. We got 12 minutes.
SPEAKER_03Yeah, but look, man, I drive 92 miles one way from work. So I like it, I like to get there. You know, I gotta pull it over on no highway. And it's all highway, it's all highway actions. I I look at it, man. It ain't that big of a big of a rush. I don't think that big of a rush.
SPEAKER_08Nah, listen, here's what happens. So don't make me right. Prove me wrong. I sent you the contract. There ain't nothing in it about wholesaling, there ain't nothing in it about assignment.
SPEAKER_03I'm gonna check that out, man. I'm gonna have somebody else check that out.
SPEAKER_08Um, so who's who's the somebody else?
SPEAKER_03I got somebody else to check that because I don't know, I don't know about that. The person who told me it's a wholesaler when they looked at a contract, was actually a realtor. She was like, This is a wholesaler. I'm like, what? Okay.
SPEAKER_08There we go. So so now we're gonna send it to the realtor.
SPEAKER_03I gotta, I don't know this stuff. I don't know. I gotta make sure I'm not getting God. I have to hear somebody who knows about this kind of contract stuff. You know what I mean? I don't I don't know.
SPEAKER_08So what makes you think that that person knows more than what I know?
SPEAKER_03She can tell me that it was a bit of this whole difference and he tried to wholesale it's not.
SPEAKER_08I removed the assignment clause because you said he did want it in there. I deleted it.
SPEAKER_03I mean, I mean I'll check it out. I check it out.
SPEAKER_08Man, I feel like I feel like you're fucking with me right now. This just feels like a waste of time. So you you you can't read it, you're driving, you can't pull over. Now you're gonna have a realtor check this out. Who is the who's the realtor, who's the realtor that's not gonna get a commission if you sign this contract with me.
SPEAKER_03I've got a realtor personally. So I first off, if she does put her on the hand, put it on the on the market, she's not gonna try and get full rate. So it's not gonna be like she owned, you know what I'm saying? Because I know her personal.
SPEAKER_08Right. But she ain't getting nothing if if she signed if you sign this contract.
SPEAKER_03She's gonna look out. Uh-huh.
SPEAKER_08Yeah, no, listen, ain't nobody looking out for my interest more than me. No, I ain't I ain't got no I ain't got no attorney that that tells me what to do.
SPEAKER_03I'm pretty sure you I I started even on AD, they did all this tough attorney.
SPEAKER_08Yeah, I I hired attorneys. You know what I told them? You don't know more than I know about what they're saying in these words. It's just words. They tried to get shit where they would own my name, own my likeness. Like, nah, hell no. We got all that removed. But regardless, that's near here nor there. My thing is, listen, so you're telling me that I sent you this contract, I gave you until tomorrow to sign it, but you're not gonna be able to look at it, but really, you're not the decision maker. This this uh realtor is.
SPEAKER_03I'm about to say it's in my name. It's not single, I don't have trouble. I'm not the decision maker, I don't know who is. But uh I got you. I'm uh I got you tomorrow. I'll check it out. That's what we got.
SPEAKER_08Okay, so how long is it gonna take her to review it?
unknownUh I don't know.
SPEAKER_03Let me get to work and we'll look at it. I got you tomorrow. What are we rushing for?
SPEAKER_08We're we're rushing because I my time gets wasted all the time. I talk to people like you, you say, I need to sell it. $4,000 means a lot, a couple hundred dollars means a lot. You make all these rules, all these things, and you say, hey, yeah, no, no wholesaler, no nothing, beat me in the middle, I'll sign it right now. I do it, and then you say, okay, well, now more stipulations. I gotta go talk to my friend. I know her, she's in my life, she don't charge me nothing. She's she's the decision maker in my life. I've been I've been down this circle, man. I've done 3,000 deals, so I've talked to a lot of guys like you. Now, what ends up happening is because I'm really good at my job, I gotta track your ass down. I gotta call you over and over and over again until you either tell me fuck off or sign the contract.
SPEAKER_03Hey, man. Hey, man, you had to go on till you said he was a wholesaler. What you said you're a wholesaler? Oh, man, that hey, I was in, hey, so you said you're a wholesaler, I'm like, oh man.
SPEAKER_08All right, so you hung up on that? I mean, all right, so should I just cancel this contract I said to you?
SPEAKER_03I mean, that's what you want to do. I don't know, man. I don't want to, like you said, I don't want my time wasted. I don't want my time waste. We've been talking long enough now. At the end of the day, man, I look at the contract, man, and I get back with you, man. That's the end of the day, man.
SPEAKER_08All right, sounds good. Let me know.
Why Sellers Distrust Contracts
SPEAKER_03Gotcha.
SPEAKER_08All right, but we end up with the how'd we end up with the same damn seller avatar type. RJ, I hate that guy. I hated your seller, Jerry.
SPEAKER_01No, but I mean, I I hate that guy.
SPEAKER_04Like, I want to slap that guy.
SPEAKER_01Jerry, this is such a good deal. I don't hate very many people. I don't hate very many people, RJ. I'm a pretty easygoing guy. I hate that guy.
SPEAKER_08Oh man. There's there's multiple houses right down the road listed for 200 to 215. I'm like, you know what's so funny, Jerry? I jinxed the shit out of us. I've said it earlier this week. Me and Jerry, we go live every week, and we're always transparent about being wholesalers, and there's never any pushback. I should have known not to say that.
SPEAKER_07Oh.
SPEAKER_01Oh man. I don't know how you could you could have overcome objections and still had that guy come up with another objection that you easily overcame. What is what just what is going on with that guy? Like, what is going on?
SPEAKER_08I don't know. He said, because you told me you're a wholesaler, I'm hung up on it. And I'm like, wouldn't you rather me tell you the truth? You wanted me to lie?
SPEAKER_01He's like, I would have signed it. Um I know. And so I'm gonna go sign with an agent because you know they're they're trustworthy.
SPEAKER_08I thought I overcame that so fantastic. Oh my gosh. So you mean you're gonna sign an agreement, they're gonna go find somebody else to buy it, and then you're gonna pay them a fee.
SPEAKER_04Isn't that the exact same thing that's happening here? For six months. A six-month commitment. I wanted seven days. He said no.
SPEAKER_01I guess so far the lesson today is logic doesn't uh lead, you know, doesn't lead out in decision making. Yeah. Okay. Can we find a motivated seller now? You know what's nuts though, RJ? Is my deal was a deal, your deal was a deal, and it's like semantics to like get it done. Like, what is going on?
SPEAKER_08Common denominator, Jerry. Both of them got screwed over by previous wholesalers. And now they're jaded. I'm telling you, man, it there this is a dynamic shift. I'm gonna have to go into the lab and figure out like, all right. I felt like I did everything I possibly could there to try to overcome that. Um I don't know. I don't know what we gotta do, but we gotta find a way to fix this.
SPEAKER_01Alright, well, I'm gonna I'm gonna try Detroit again. Warren, actually. I had a good a good answer on the last one. And they're they're a 248 number, so what number is that?
SPEAKER_07Uh 203.
Quick Call With Overwhelmed Seller
SPEAKER_01Okay, so hello. Yes, hi Sharon. How are you today?
SPEAKER_11Uh, okay, who's calling?
SPEAKER_01My name's Jerry. I'm calling you about your property I think you're looking to sell on Cherow Avenue.
SPEAKER_03Yeah, okay.
SPEAKER_01Yeah, I was calling to see if I could help you out with that. Are you still looking to sell it?
SPEAKER_11Yeah, I am okay. Keep that. You caught me at a really bad time though. Yeah, I'd like to keep that. Okay, we're we're uh how about giving me a call tomorrow and I'm not tied up with this project. I'm right in the middle of a big project, and uh so Okay.
SPEAKER_01Yeah, it usually doesn't take very long, just a few minutes. If you tell me what price you're looking to get, I can tell you if I can make it work or not.
SPEAKER_1172,000.
SPEAKER_0172,000?
SPEAKER_11Yeah.
SPEAKER_01Okay, what's got you at that number?
SPEAKER_11I'll take an offer, and maybe I maybe I go 65, but that's gonna be about it.
SPEAKER_01Okay. Is this a one-bedroom, one bath, 696 square feet?
SPEAKER_11No, it's two bedrooms and a bath.
SPEAKER_01Okay.
SPEAKER_11With a garage. Yeah.
SPEAKER_01And uh are you on a basement or a crawl?
SPEAKER_11Bring this one down so I can see this one. Okay, but you you you do have me. I got workmen here and everything else. We're trying to I got a fire at my house, and I'm trying to.
SPEAKER_01Oh, sorry.
SPEAKER_11Yeah, yeah.
SPEAKER_01Okay, well then let's let's talk about this. This this one on Cheryl is not your personal house.
SPEAKER_11No, it's my house, but it's not personal.
SPEAKER_01So yeah, it's vacant then, or some renting there.
SPEAKER_11Okay, all right. Uh if you want to text me your phone number, if you want to give me a call back, or no problem.
SPEAKER_01I'll give you a call tomorrow. Is there a specific time that's best? Okay, I'll make a note here, I'll shoot you a text, and we'll talk about it tomorrow.
SPEAKER_11What's your name?
SPEAKER_01My name's Jerry.
SPEAKER_11Okay, Jerry. All right, so a lot of interest in this house, a lot of interest.
SPEAKER_01Well, what what offers have you said no to?
SPEAKER_11Um, I have been very ill, and uh we've been going through really a lot of family tragedy. And so I I have not, I I'm not sure I've had 70 calls on this house. People that really are super interested, but I just uh I just can't do it right now, but I'll be doing it soon.
SPEAKER_01Well, wouldn't wouldn't it feel good to get this off your plate and this property out of your life?
unknownYep, you got it.
SPEAKER_01People stop calling you all the time. Like, let's make my call the last one.
SPEAKER_11He called me last month, yeah. There's just so many people have called on this property.
SPEAKER_01Well, I know, but if if you sell it, they stop calling.
SPEAKER_11Oh, yeah.
SPEAKER_01You know what I mean? And you get money in your pocket.
SPEAKER_11Yeah, yeah. Okay. All right, yeah. That sounds like a plan, don't you?
SPEAKER_01All right, let's let's see if we can get it done. I'll call you tomorrow.
SPEAKER_11Thank you. Okay, you take care, I'll talk to you in the afternoon tomorrow.
SPEAKER_01All right, thanks, Sharon. Bye.
SPEAKER_11Okay, bye-bye.
SPEAKER_00That ain't that ain't a deal.
SPEAKER_08So Jerry, I think you should call the next one.
SPEAKER_00On the list?
SPEAKER_08Yep.
SPEAKER_01Wendell, North Carolina?
SPEAKER_08Yep.
SPEAKER_00Why do you like this one?
SPEAKER_08I just want to hear you say call it about your property on Lizard Lake. Oh yeah. Lizard. It's it's come on. How who Lizard Lake Road?
SPEAKER_04Okay. Okay, I this is this has gotta be a typo.
SPEAKER_06Hello, this is Dan Gordon. Currently I'm not available to take your call, but if you'd be so kind as leave me a name, telephone number, time and date, and I'll return the call as soon as possible. Thank you for calling. The mailbox is full and cannot accept any mess.
SPEAKER_00I was gonna leave a funny voicemail.
SPEAKER_08Man, could you imagine filling out a form on a website and say the reason why I'm selling my house is because I'm upgrading due to a death in the family? Upgrading. Upgrading due to a death in the family.
SPEAKER_01Life's gonna be better now that now that mom's out of the way. That life insurance hit hard.
SPEAKER_11Hello?
SPEAKER_01Yeah, is this Danny?
SPEAKER_11No, this is Angela.
SPEAKER_01Angela.
SPEAKER_11Yeah, the one with the beauty vista.
SPEAKER_01Oh, I'm sorry. I was trying to call somebody else. I think I hit callback and it was the we spoke earlier, correct?
SPEAKER_11Yeah, you said you needed the live box call. I sent it to you. I was just checking.
SPEAKER_01Oh, well, I'm glad I'm checking in. It's been a half an hour.
SPEAKER_11No, I got it. Um oh yeah, because I'm busy and I got another call on the other line, so I gotta call you back.
SPEAKER_01Okay. You said you'd you said you'd call me back in a half an hour, so you're gonna call me back in a minute?
SPEAKER_11Yeah, I'm trying to call uh yeah, I'm trying to take care of a lot of other business at the same time, other things. But yeah, I'm gonna get back to you as soon as possible.
SPEAKER_01All right then, thank you.
SPEAKER_11Okay, goodbye.
SPEAKER_00Oops.
SPEAKER_08Oh man. She grag she drags me up, man. She's just bringing everybody along.
North Carolina Land Seller Sets Terms
SPEAKER_01Yes, hi, is this Danny? Hi, Danny. Calling you about your property on Lizard Dick Road.
SPEAKER_07Yes, sir.
SPEAKER_01Are you still looking to sell that property?
SPEAKER_07Yeah.
SPEAKER_01Fantastic. What are you hoping to get for it?
SPEAKER_10400,000.
SPEAKER_01How much?
SPEAKER_10400,000.
SPEAKER_01Okay, 400,000. Let me pull this up right here, see if I can help you out here. All right, what's got you thinking 400,000?
SPEAKER_10Well, uh the value on it is not in the house. It's in the land is uh 11.5 acres.
unknownOkay.
SPEAKER_10Uh tax lena. The tax evaluation for the house is about a somewhere 90 to 100,000. And for the land it's about, or the whole group together is about 300,000 tax value. That's what I'm having to pay tax on. So I bought it 25 years, 30 years ago as an investment property.
SPEAKER_04I see.
SPEAKER_10And what I'm looking to do, I retired two years ago, um, soon to be 77 years old. And uh I'm looking to uh sell it and what time I got left, spend with my family and grand youngins having some fun.
SPEAKER_01Oh, good for you. Well, it sounds like your plans are all coming together then.
SPEAKER_10Well, here again, I own the properties free and clear. You got the money, I can sell it tomorrow.
SPEAKER_01Okay. And let me ask you a question. Why are you talking to investors and not just hire a real estate agent to sell it? Is there a reason for that?
SPEAKER_03A simple daily capital.
SPEAKER_01Because I'm an investor, which means I pay cash and I can get it done quick, I can provide convenience, there's no commissions or closing fees. Pardon?
SPEAKER_10I don't want to get through the hassle of working with a realtor.
SPEAKER_01Okay.
SPEAKER_10I I I I really have a disdain for realtors every time I'm working, I'll get screwed.
SPEAKER_01You and me both. I'm just kidding. There, like anything, there's good agents and bad agents, you know.
SPEAKER_10Yeah, I understand, and there's some good ones out there.
SPEAKER_01Yeah.
SPEAKER_10And here again, I I'm looking to make a quick sale.
unknownOkay.
SPEAKER_10I don't want to entertain him and hard, it needs to be done this.
SPEAKER_01make me an offer if uh like it i'll sell it to you and and i'm looking it's showing that this is 11 acres is that is that what i'm is that right well technically it says 11 acres but it's 11.5 and i won't argue over the half acre no if you say it's 115 it's 115 i'm just so i've got to base the decision as an investor paying all cash on a price that's a discount so if i put the cash into it obviously i there's a way for me to make money right how would you hear i'm looking to make money too so maybe we can reach an agreement that's what i'm hoping too yeah something that works for you i mean i'm looking here at a p uh at a lot that sold that's 10.5 acres and this can't be right it says it sold in july of 26 for 7500 that can't be right i know of on ferrell road i mean even close uh there's a lot a lot that sold eight acres uh huh right down at the crossroad junction of uh lizard link and fowl road eight acres for half a million dollars i'm looking at 17.89 acres that sold for 500 000 okay that's sold in april of 26 so that's yeah it's got some property on it too i mean it's got some unit like dwelling units on it yeah well it's got one dwelling unit i'm looking at another lot that sold for 425 that was 24 acres okay sir if you don't i i'm not here to negotiate with you if you want to take me in on the park I'll listen if well i'm just how can i make an offer uh i know what i'm gonna sell it for yeah if we can agreement fine but you don't have to convince me of the value one way or the other i'm just trying to get my head around it that's all well do that on your own time call it back and so what's the lowest you'll take for all cash huh like if we sign an agreement today and we closed in 30 days all cash has is what's what's that number need to be no commissions 350 and it could be yours 350 yeah and if you were me if you were me that would be fair you think that's fair 350 yes sir and if you were me what would you do with it like if if you were my shoes and you had to tell you what I would do if I was just 10 years younger yeah what would you do?
SPEAKER_10I wouldn't sell it I divide it into five two acre lots uh develop it put houses on and make a good chunk of money but I ain't got the talent nor energy to do that.
SPEAKER_01Yeah I do so help me understand the play like what's the move here split it into two lots and build and sell houses no I said I would build if you just take ten acres.
SPEAKER_10Yep should call not an acre for what's there I'd build I divide it into two five acre lots right five two acre lots and I'd build a house on it and sell it.
SPEAKER_01Okay five two acre lots yeah maybe and here I just rough guessed it yeah there's been a new house that's been built within uh 75 yards of the existing house and it's a very nice two story house probably about a house long about 350 so it can I mean there's no trash junk houses on the proper around it they're getting nice housing bills around it you can you can like I say five two acre and a two acre lot's a damn nice size lot yeah put a non-sized house on it and you know tell me about I I get that play so that's one one move tell me about the house that's there now is that the house is there now and I told you to start off with the value start in the house is it a teardown though or is it a renovation what is that I would say it's uh improver if I keep it I'm putting new windows in it the roof's in good shape it's got central heat in the air in it fireplace two or three bedrooms figure on how you can configure it uh living room dining room the inside has been re paneled and when I say repaneled it's got uh new floor new panels kitchen uh you know uh and it you'd probably take about the windows would be about six thousand dollars uh for another two eight you'd have somewhere between fifteen and twenty thousand dollars and to have it to rent it needs to be paid in the renovation cost yeah sir okay could you carve out that house and then split out the lots and keep so fix up the house split it out into an acre or two and then sell the other land is that could that be done too I'm I'm flexible well I mean when you sell it I'll do whatever but is that would that be a play I could do too sir you could do anything you want I know but you know the property like is it in a sp is the house situated where that could be possible uh yes you know so like in the middle where it's the house has got to go if I'm gonna split the lots you know is kind of what I'm wondering I'm trying to come on the property you come in one way and uh what you would do would be extend the road down through the property make a circle in the end of it yeah and then have a lane on your property at your access and you know have a drive turning off each of it. Two acre lot is a pretty nice size lot yeah and you put a nice put a nice house on it you know I figure you could make between 75 and $100,000 a lot with a with a house wallet but that's just me yeah yeah maybe how much time would you give me if we agree if I agreed on your 350 number to do some due diligence I'm not sure I understand what you're asking. So here's what it would look like we would sign a contract that says we're agreeing on a price of 3500 in that agreement I'd have a window of time where I can make sure the 350 works because I gotta I gotta see what zoning requirements are I got to see what the split requirements are I I gotta do some homework I can't invest the time and energy in in doing all of that if we don't have an agreement. So we have an agreement you give me a certain amount of time I make sure I can do these splits and these other plays if I can then we move forward and close if I can't then I come back to you and say hey I can't make this work what do you want to do from there you can decide renegotiate or terminate the contract and sell to somebody else like you have that option but I am going to need a little bit of time to do homework on this what kind of time you talking about usually with land development projects like this I need 30 days. So if you can give me 30 days that's plenty of time for me to figure things out well I'm in no real hurry to sell it.
SPEAKER_10And I really want 100,000 for it. So you can go ahead and do your I'm not gonna make a a contract uh you come back to me 30 days after you've done the work it'll probably still be available.
SPEAKER_01But what if it isn't and I've just invested all the time and energy and effort in doing the homework and then you sell it to somebody else tomorrow. Suppose you uh suppose outside the contract somebody comes on offers me 400,000 for it six or one half dozen any other not if you have an agreement with me that means you're committed to me for 30 days you said you said you'd take 350 cash I'll give you 350 cash but in return you need to give me a window of time because I no one's gonna buy that and do all those things you just mentioned without doing some homework first. I understand that no one's gonna do homework on a property they don't have a contract for because that's a waste of time.
SPEAKER_10Suppose I just give you a verbal agreement and I'm gonna sell it for the next 30 days.
SPEAKER_01I don't know you from Adam and a verbal means nothing to either one of us that'd be like me giving you a verbal and you making decisions based on my verbal a contract is in writing and it commits both of us to the terms. I understand sir I understand yeah all all that contract's gonna say is I I'll pay 350 you give me 30 days to do due diligence if I can't make 350 work at the end of 30 days we terminate the agreement and you sell it to somebody else but you're gonna run into this because someone's no one wants to do homework on a property on a project especially a project like this sir sir yeah you don't have to convince me of that okay I've been a businessman for 60 years.
SPEAKER_10Yeah I understand what you don't understand I'm 77 years old I'm not in the best shape in the world gotcha I just not up for the fucking asshole to be honest with you but here's what I'll do uh my son is my power of attorney okay he'll be out he'll be right now he's in um where the hell is he he's working in I think in Philadelphia he'll be home Thursday let me run it by him can you give me the Friday and I'm not gonna sign it between now and Friday call me back Friday and I'll let you talk with him I mean if you give me his number I can call him Sir he's working on the job own Philadelphia all right and he works in the medical field and I talked to him earlier he's going into an operating room right now.
SPEAKER_01I see so if you give me to Friday or even uh Thursday afternoon about the same time okay that's two days might work okay okay and what is it that your son's gonna do that you're not gonna do help you just help make the decision or what's what's he gonna do?
SPEAKER_10Well I committed to him not to make any financial decisions I mean this is not the only piece of property I own but a year ago I was with a grandson I had a townhouse in Mountains North Carolina he was pushing me in a roll later and I uh fell out of it and hit my head on the concrete curve. Oh no I was in hospital for seven days with a brain wreath and a concussion unconscious and then I spent six six weeks in rehab learning how to walk again and I promised him uh I wouldn't make any business decisions when I was warming him first. So I mean that's the thing that's the reality and I you know I'm just asking for sure two days and if you're not willing to do that then yeah I don't know I'm not gonna make a decision today if you were to offer me two hundred two hundred or three hundred and fifty thousand until I talk to him.
SPEAKER_01Yeah well you're lucky to have a son that's able to help you with these decisions you know that's that's great.
SPEAKER_10Well helping me but he's advising me that I ain't fucking up yeah well I can respect that in my name and uh he's a damn good man yeah and he's taking care of me and I've been able I've done some stupid stuff.
SPEAKER_01I don't have any memory but we don't need to get in that you want to call me back in two days yes or no for sure I'd be happy to work with your son make sure you're making the right decision I prefer that actually because I don't want to I don't want to do something that might not be what's best for you either that doesn't help anybody so I would love to have your son part of the process and make sure that we're doing the right thing for everybody.
SPEAKER_10Okay sounds like a plan.
Working With Elderly Sellers Ethically
SPEAKER_01Okay let's talk on Thursday then I'm gonna make a note of that can you save my number well I was going to ask you to text me your name address and telephone number please yep I'll text you to this number I called and we can catch up on Thursday sounds bad it'll be Thursday afternoon okay about this long time two three o'clock okay thank you thank you sir good luck with everything bye man it's just one of those days isn't it yeah you know um with elderly people you you always want to find out like who's who's the decision maker who's helping you make these decisions because for one I don't like buying houses or contracting with elderly um to be because I don't want to be accused of taking advantage of an elderly person. I would prefer there's an heir or a son or somebody that is helping in that decision anyway just because I I don't I don't want to be accused of taking advantage of somebody elderly.
SPEAKER_08I just think it's interesting that we've spoken to three sellers so far and almost all the conversations went the exact same way just for various different reasons.
SPEAKER_01Yeah what what the the hard part here is what this guy should be doing is he should say hey son I want to sell the house can you can you quarterback this project not I'm gonna quarterback the project I'm gonna have a 30 minute conversation with somebody I'm gonna tell them a price I want then when he says okay let's sign an agreement then I'm gonna say oh wait a minute my son has to be part of the decision why are you doing all of that it just makes no sense. Right.
SPEAKER_08You're I'm not in good health like he got frustrated he got aggravated with you multiple times when you were just asking like I'm just asking questions. Pretty generic questions yeah like I mean I I didn't think there was any reason why he should have gotten upset but he did I mean even there at the end just you could just tell I mean it was taking a toll on him yeah like I I don't know I I agree that was that was weird but maybe this I mean it sounds like the son's like a surgeon or something. Yeah
Burned Down House Lot Reality Check
SPEAKER_08the advice I want to give him is that is I want to say this listen I think Jerry cut out I think Jerry's uh hotel Wi-Fi cut out on so I'm gonna go ahead and hold it to sell it your call has been forwarded to voice out hey it's Joshua there Joshua this is RJ Bates talking about your property there on Wallace Street looked like you were uh interested in selling that property is that correct all right how much you looking to get for it twelve thousand twelve thousand all right tell me a little bit about what you got going on had a house on it house bar um had cleaned up you know it's just a thing just dirt huh that's it dirt you know utilities and all is there and ready got houses on both sides of it how'd you come up with the asking price of twelve thousand six thousand have it cleaned up and um yeah they work at least another thing that's just about what it takes how much are the houses uh around you going for well let me see if I can see what lots are actually going for yeah because I mean I appreciate the fact that you've got money in on it but I've got to look at this from uh what I mean I'm yeah but I ain't worried about about that I got a guy that's on the ride going to do things and it's it can't be bought but you know I know what anything for it's pretty close to that so okay so you uh you've already got somebody that's gonna buy it from you um yeah all right well I mean it's not under contract but yeah he is uh he's definitely interested he's a contractor and actually I've got another house over there that um I've got about three months and done on problems work on it on that so probably finish it up and you know maybe get me some cash and trade it out for the problem gotcha all right well sound sounds like you're in uh you're good you're in good hands there sounds like you know what you're doing uh just weird that you don't know how much lots are going for or how much houses are going for in there well I had tracked so I had yeah I had no doubt I thought you had a buyer I didn't I was saying I've got another house over there meeting the contractor I probably got 200 work over there on another house yeah he'll do the work on the other house get it finished up and uh we'll probably do some swapping on the on the front because he has a piece of property about three block or about three three or four houses down from that line somebody wants to break me right there beside his other house and they can build a new place or quite place or something there like you said. Okay. Yeah I mean uh yeah I just don't think this is a good fit for me so that's best well with that okay my offer was going to be four hundred and fifty dollars and a hot and ready pizza yeah well the the house burned down yeah and he cleared it it cost him six grand uh to clear it and then he says well I'm sure the dirt is worth six so I'm asking twelve like if the dirt's worth The dirt's worth six, then why wouldn't I pay six? Well, because I spent six to clear it off. That's called a loss. You take a loss. That's what that's called. Right. Your house burned down. You're taking a loss, not yeah.
SPEAKER_00So you want to call another one, or you are we counting that?
SPEAKER_07I can take an air point against something here. That didn't go for very long.
SPEAKER_0139 left. What happened? Did uh the Wi-Fi just cut out or what? My computer just decided to turn off and back on. That's fun.
SPEAKER_04Yeah, I'd love that. That's fun.
SPEAKER_03I'm gonna go to one of my uh my least lowest volume states, Connecticut. We don't we don't go to Connecticut very often.
SPEAKER_07Connecticut.
When Leads Become Pranks And Hangups
SPEAKER_08Hey, he's Nathan there. Hey Nathan, this is RJ Bates gone back to property there on Main Street.
SPEAKER_03I am.
SPEAKER_08I I think now I understand why Connecticut is one of my lowest volume states.
SPEAKER_04What happened?
SPEAKER_08Did you hear what he said? No. Are you from Texas? And I said I am, and he said no deal and hung up.
SPEAKER_02What? I'm gonna call him back.
SPEAKER_01Should I play a joke on him or or should I this is two this is two weeks in a in a row where Texas came up? Wait, should I play a joke on him or yeah, because that guy ain't working with you, so big text?
SPEAKER_08Yeah.
SPEAKER_03I can't do it, man. Can't go that low on latitude, but I just don't trust you guys.
SPEAKER_08You just don't trust anyone from the state of Texas?
SPEAKER_03Yeah, maybe that's happening.
SPEAKER_08He said, I can't trust anyone from that low of longitude. He asked if this is big text. And I said, So wait, you just don't do business with anyone from Texas. Not that I live in Texas, and he said, Yeah. See you later, sick shooter. What I've never heard of just because I'm from Texas. Wow. What number was that? It's uh 393.
SPEAKER_01I'm calling this guy right now because I'm not from Texas.
SPEAKER_08Right. You're from Michigan. I hope he doesn't hate Michiganders. I hope it is the greatest deal of all time, so I can throw the walleye fit online about this.
SPEAKER_04Me too. I have been discriminating. What was it last week? Uh you must be from Texas. She said typical Texan.
SPEAKER_07Oh yeah.
SPEAKER_04I was the typical Texan. Hey, is this Nathaniel?
SPEAKER_07This person from Michigan?
SPEAKER_01Yeah.
SPEAKER_07Nah, it's not gonna happen, man. We gotta stop trying. We can't. You're in the wrong states every time.
SPEAKER_01My buddy RJ from Texas. He hates Michigan too!
SPEAKER_08What? Bro, this dude is just messing with us. Yeah.
SPEAKER_01Oh man. That's I wish I had another. I wish I had a phone with a different area code right now. I need it, I need a Connecticut area code.
SPEAKER_04I think he's just messing with all of us. I'm calling him back because I'm not actually.
SPEAKER_02Hey, listen, man. I told you I'm not gonna deal with another Michigan arc.
SPEAKER_01I don't live there anymore.
SPEAKER_07Yeah, he's just he's just messing with us. He's messing. I wonder how long he does that every single day.
SPEAKER_01It's probably got like a take. I know, but why not keep it going? If you're gonna mess with someone, like why not? Yeah, that's true. Why not keep it going?
SPEAKER_04I mean, how what fun is that? Just hang up on them. That's not fun.
SPEAKER_01That was that's the weirdest thing ever.
SPEAKER_08That that was pretty weird.
SPEAKER_01I mean, I kind of want to know why why he hates Michigan and Texas. It's gotta be a good reason.
SPEAKER_07All right, well, then we're gonna count that as your turn, RJ.
SPEAKER_02Wait a minute, Jerry.
SPEAKER_01Where was that one I was looking at? I was looking at a what do you think about 39? Because Savannah's an Savannah's a great market.
SPEAKER_08I'm just waiting for you to look at the screen.
SPEAKER_01Oh, what's on the screen? Yeah.
SPEAKER_08That I'm just a I'm just a typical Texan over here. Typical Texan. Although I will say, at least I yelled at that lady. Although she remember, she had one of the craziest like requests. Like, just make me an offer so that I can use the offer to get the other guy to pay me more.
SPEAKER_01I'm gonna call that guy back and just see if he'll tell me why. It's not gonna work. He's just gonna hang up on you.
SPEAKER_03Please leave your message for.
SPEAKER_08Yeah. Yeah. See, he's not he's not even fun. No. I I I don't mind it when they're uh, you know, somewhat fun about it.
SPEAKER_04Like engage with us.
SPEAKER_08Engage at least. I'm gonna I'm gonna call this uh this this lynette lady just getting hung up. When was the last time you heard that?
SPEAKER_00That sounds like a home phone.
SPEAKER_03Well they they picked up and then that's what it did when I called back.
SPEAKER_01RJ, you're not from Texas. You're from whatever state they want you to be from.
SPEAKER_08Are you from Okay Lynette just keeps answering the phone and hanging up on me?
SPEAKER_00It's a home phone, probably.
SPEAKER_04Uh okay. What do you think about 39? 39. All right.
SPEAKER_07It's a full gut.
SPEAKER_01You want me to call it? Yeah. Savannah's Savannah's a great market in Georgia. Yeah.
SPEAKER_00That's a great area. What's the reason? Downsizing. That's not a great reason, but hey Graham, this is RJ Bates.
SPEAKER_08Got that property over there on Bryant Street. Look like you were uh you were interested in selling it, is that is that correct?
SPEAKER_03Uh oh, my house, you mean? Yeah.
SPEAKER_08No, the one on uh East Brian.
unknownUh-huh. Uh am I interested in selling it?
SPEAKER_08Only if somebody brings a uh a huge offer. A huge offer. Okay. Well, I think you had spoken to someone on the team and filled out a form saying that uh if you were looking at downsides, it was a full gut renovation, needs everything. Is that not accurate?
SPEAKER_03Inaccurate. Absolutely. Uh uh I I never filled out a form.
SPEAKER_08All right. Well, Graham, I very much appreciated the uh quick 30-second conversation there, but it looks like we are uh we're not meant to do business together. I apologize about that. Your your turn, Adam is also British.
SPEAKER_00All right then.
SPEAKER_01Let's go to uh we haven't tried Kansas today, have we?
SPEAKER_07No.
SPEAKER_03Well, note yourself. Don't ever let Jerry pick what we call.
SPEAKER_08Yeah. Only if you bring me a huge offer. Yeah.
SPEAKER_02It needs a huge rehab, but I want a huge offer.
SPEAKER_11Sorry, the mailbox is RJ.
SPEAKER_01Do you think that that old guy over uh in the North Carolina, do you think he do you think he caught that I miss mispronounced the there was a there was a slight hesitation.
SPEAKER_08I think he I think he probably caught on to it.
SPEAKER_01It threw me off because I I wasn't expecting him to just roll with it. Uh I don't know what I was expecting, but it threw me off for a second. I had to like kind of regroup a little bit.
SPEAKER_08I tried to put my head down so you couldn't see me laughing as hard as I was laughing because I was like, oh wait, he's he's kind of an elderly guy and he just rolled with it, so it was like I didn't want it to become too bad of a thing. He might be used to it.
SPEAKER_01Maybe. He might be like, ha ha, very funny. I've been hearing that joke for 30 years.
SPEAKER_08He he did he did bring up the street name later on. I did notice that.
SPEAKER_01All right, I'm trying 71.
SPEAKER_03I'm not here right now. Please leave a master.
SPEAKER_00Try him one more time. Financial reasons, full gut, Illinois.
SPEAKER_09I'm not here right.
SPEAKER_00No way, Sandusky, Ohio.
SPEAKER_01Oh, can I call you later? You just texted me.
SPEAKER_07Larry Yeah. Okay. Uh here we go.
SPEAKER_08Well, Danny Forrester insured that I would not call one thirty-five.
SPEAKER_01You're banned from that one?
SPEAKER_08Well, no, because he said so. I mean, the two bad calls I've had today are the ones that you and he got.
SPEAKER_00You've guessed some bad ones too though, RJ. Let's be let's be honest. That's true.
SPEAKER_11Four, one, nine, two.
SPEAKER_01We stayed as a family one time in Sandusky, Ohio in an Airbnb, and it was a church. They rented the church out as a house.
SPEAKER_08They like make bedrooms?
SPEAKER_01Yeah. And we played dodgeball with the kids where all the pews are.
SPEAKER_02One.
SPEAKER_08Okay. I think you should call the one right above it.
SPEAKER_0475.
SPEAKER_08Idaho, yeah.
SPEAKER_04Twin Falls.
SPEAKER_03I would be very impressed if you closed an Idaho.
SPEAKER_02Twin Falls is a hot area.
SPEAKER_08Let's try it. If I had not gotten lucky on an Idaho deal in 2020, I don't think I would have a closed deal in Idaho.
SPEAKER_01It was it was a lucky one?
SPEAKER_08Yeah, I just got the perfect seller.
Idaho Trailer Deal And Cash Flow Math
SPEAKER_08Hello, Michigan.
SPEAKER_01Hi. Is this Ira?
SPEAKER_09Yeah.
SPEAKER_01So you know Michigan then.
SPEAKER_09Well, your number came up Michigan.
SPEAKER_01Okay. Yeah.
SPEAKER_09I don't live there anymore, but I actually are you actually in Michigan?
SPEAKER_01No, no. I used to live there in the Detroit area for a while. I moved away maybe 15 years ago. But I know Twin Falls. I've got some kids that go to school out at BYU Idaho in Rexburg. Right on. Yeah, I got family in Nampa uh and Boise area too.
unknownCool.
SPEAKER_01Anyway, I'm calling you about your house on Castwell Avenue. Still looking to sell that?
SPEAKER_09Uh I really doubt you can help me, but yeah.
SPEAKER_01Why's that?
SPEAKER_09Well, one, it's a trailer.
SPEAKER_01Okay.
SPEAKER_09It's not on a concrete foundation or anything, and I rent the land it's on.
SPEAKER_01So what is it you're selling? The trailer?
SPEAKER_09Yeah.
SPEAKER_01Not the land.
SPEAKER_00No, obviously.
SPEAKER_01Okay. Well, I buy trailers all the time. It's just gotta be the right fit because I gotta I gotta move it off of there, right?
SPEAKER_09Well, you can leave it here and have the people move in and live with the appreciation.
SPEAKER_01So if I if I buy it, I take over the rent payment to the park.
unknownYes.
SPEAKER_01Okay. And then what's the play there for an investor? Rent it to somebody in cash flow?
SPEAKER_09If you want to, yeah.
SPEAKER_01Okay. I mean, I'll do the deal if it makes sense. What what are you hoping to get for it?
SPEAKER_09Uh I probably wouldn't take anything less than 50 right now.
SPEAKER_01And what's got you at 50?
SPEAKER_09Well, I was I had it a prairies at 100 or better.
SPEAKER_00And how long ago?
SPEAKER_09It's got a shop next to it on Tom Street. I should say a small yeah, a small shop. It's got a little work area with it.
SPEAKER_01But this is in a park?
SPEAKER_09Yeah, it's in a trailer park. It's in the county of estates.
SPEAKER_01I mean, I'm looking at the street view of it. I see uh a little house to the right. Where's the shop? Is that to the left right there?
SPEAKER_09If you're facing the house, it'd be on the right side of the back of it.
SPEAKER_00Okay, that's why I'm not seeing it. It's behind it.
SPEAKER_09Now, are you putting in the A2?
SPEAKER_01What do you mean?
SPEAKER_09It's trailer A2.
SPEAKER_01What does that mean?
SPEAKER_09That's my address.
SPEAKER_01Oh, A2. Um, I mean, I just I just googled it. I let me double check that that's what I'm looking at. Yeah, because the address is probably the whole park, right?
unknownYeah.
SPEAKER_01Okay. Yeah, yeah. So then I'd have to no, I it just I'm probably looking at the wrong thing then. But okay, so you you got a trailer there, you had it appraised for a hundred. How long ago was that?
SPEAKER_09Uh about three or four months ago.
SPEAKER_01So it's a recent appraisal. You could show that to me, like if we end up trying to put a deal together.
SPEAKER_09Well, the guy just told me how much it was. I don't have any paperwork on it.
SPEAKER_01It wasn't in writing.
unknownNo.
SPEAKER_01Okay. Well, that's gonna be hard to put any weight on it. Okay, but you think it's worth a hundred and you want fifty?
SPEAKER_09Yeah. There's single wives here that aren't going for 60 to 80. I got a double wife, three-bedroom, two-bath. It's got uh central airing, eating and cooling, and then the small shop next to it at the back.
SPEAKER_01Okay. What do you pay? Let's talk the numbers then. If I buy it for 50, what can I rent it for? What's my lot cost? Like how can I cash flow?
SPEAKER_09Right now it's $5.55.
SPEAKER_01And that includes the shop too?
SPEAKER_09Yeah, the shop goes with the trailer.
SPEAKER_01And what do you do at the shop? You just park your stuff in it, or do you rent that too?
SPEAKER_09Or yeah, right now it's just storage for me.
SPEAKER_01Okay. But that's a big value add for someone that might have like cars or whatever stuff, right? Yeah. What what could I rent it for with the shop?
SPEAKER_09Well, shop and the trailer is five. $555 a month.
SPEAKER_01That's the rent I pay, but what can I rent it out to a homeowner?
SPEAKER_09Uh you could probably go $1,200 or better.
SPEAKER_01Okay. And that's not bad. So if I if I buy it from you, I pay $500 to the park, I rent it for $1,200, I cash flow the difference, right? Yeah. Okay. What kind of work does it need to re to rent it out?
SPEAKER_09Uh right now it needs one window in the back.
SPEAKER_07Okay.
SPEAKER_09And a couple of doors, and a little bit of flooring. It's gonna need new carpets, and it needs a new piping.
SPEAKER_01Okay, so I gotta do a fair rehab, a fair amount of rehab on it.
SPEAKER_06Not too bad, but yeah.
SPEAKER_01Okay. I mean, if I'm all cash and no commission, no no closing fees, close on your timeline. Are you are you in a place to put a deal together?
SPEAKER_09If you throw a good number at me, we could probably work at it, yeah.
SPEAKER_01Okay, I'm just saying, assuming we agree on price, is this something you're ready to do? Yeah. Okay. Is there anybody else that that needs to be part of the decision?
SPEAKER_09No.
SPEAKER_01Just me.
SPEAKER_09I work here with my daughter, and yeah. I'm the homeowner.
SPEAKER_01And you're living there now? Yes. And you've got a place to go?
SPEAKER_09Not yet, but I can find one quickly.
SPEAKER_01Okay. You're not. Do you need the money from this to move?
SPEAKER_09Yes.
SPEAKER_01Okay, so you'd have to line those up, right? Like you'd have to have your next place lined up.
SPEAKER_09Yeah, because I'm just able to live on Social Security, and unfortunately, Social Security only pays me $9.94 a month. And with rent going up to $555, yeah, it's a little too tight.
SPEAKER_01I see. Okay. And where will you go? Like, let's say we do a deal, you get some cash. Are you gonna try to buy something or rent something somewhere?
SPEAKER_09Well, I'm I'm gonna hop on section eight due to my finances.
SPEAKER_01Okay. Get a voucher from section eight.
unknownYeah.
SPEAKER_01Stay and stay in the area then?
SPEAKER_03Yeah, I'll be staying in twin.
SPEAKER_01Yeah. Okay. So would a thirty day closing be too soon?
SPEAKER_09No, that probably worked out about perfect.
SPEAKER_01That'd give you time to get packed up and the next place situated and all that.
SPEAKER_02Yeah. Okay. Okay. Is fifty the best you can do? Yeah.
SPEAKER_09I'd I'd prefer to get at least fifty out of it, yeah.
SPEAKER_05Okay.
SPEAKER_09That gives you at least fifty thousand or a little bit over, you know, to get it all fixed up and still make you know some commission off of it.
SPEAKER_01Well, yeah, I mean, I don't know if flipping is to play here. I I gotta look at that. Renting might be a good investment move because of the because of the cash flow, right? Yeah. But I just gotta look at both those options and see what makes the most sense.
SPEAKER_03Yeah.
SPEAKER_01I mean, I'd like to see it, I'd like to see it for a little bit lower, so I've got a little more room on the budget for the rehab. Could you could you go could you go a little lower for cash?
SPEAKER_09Uh yeah, I could probably take it down another five.
SPEAKER_01Okay, so 45.
SPEAKER_09Yeah.
SPEAKER_01Okay. Let's do this. Let's put an agreement together for 45. I am gonna need a few days to send my guy out there to do a walkthrough. So we'll schedule that after we have an agreement. I'll we'll schedule that with you, a time that works for you. Um, we'll just want to do a quick walkthrough, make sure we get our head around the condition, make sure there's no issues going on there. Uh, also during that time, I'll do a little homework on what's the best move for me as an investor. Like, do I am I gonna fix it up and flip it, or are we gonna just fix a few things and rent it out again? I I don't know right now until we take a look at that. But I'll just need five days for that due diligence period. And then as long as everything checks out after the five days, then we move forward to closing. If there's an issue or something's not working out during that five days, or I discover something I don't know now, then you and I will just sit down and have a conversation about it and decide what to do from there.
SPEAKER_09If it oh, yeah, there is one more problem. Oh, it's got roaches.
SPEAKER_01Roaches, okay.
SPEAKER_09Yeah. I was just getting ready to bomb them again.
SPEAKER_01Okay. Well, that comes with uh the territory usually, right?
SPEAKER_09Well, actually, most of the places around here don't have roaches. Unfortunately, about eight, ten months ago, I had some supposed friends living with me, and his girlfriend turned on all four burners on the stove. It's electric, and turned on the oven at the same time, and it stopped working, it light up on a little bit, but it stopped working. So my my roommate he turned out in the stove, you know. So while he took off to go get the stove, I pulled out my stove and realized that it just blew one of the wires apart with all the electricity going through it. So I think everything's working fine on it. Um brings it back to the stove in the living room, and I was like, I don't need a stove anymore, dude. I got it all fixed. He's like, oh, okay. Well, I'll take it back to stove and stove, whatever the guy's name was here in a little bit. And while I'm sitting in the living room a little while after that, smoking a cigarette, I realized there's renters coming out of the stove that he brought over.
SPEAKER_01Oh, so they they uh they piggybacked in the new stove that got brought over.
unknownYeah.
SPEAKER_01Now they're and now they're uh now they're renters in your house.
SPEAKER_09I got mad at him because the place that he got it from, he knew it already had roaches anyways.
unknownSome friends.
SPEAKER_09I got rid of him and bombed the place and it was doing pretty good for a little while. I had date traps and sticky stuff and spray, and unfortunately, they just came back.
SPEAKER_01Okay. Are they those are they those big those big roaches with the wings?
SPEAKER_09No. They're just standard Germans. I haven't seen anything fly yet.
SPEAKER_00Those things are freaky, man.
SPEAKER_01Yeah. Okay. Well, thank you for telling me about that. I appreciate you being honest and transparent. What what year is the trailer? I believe it's a 78. 78, yeah. Okay. Well, Ira, I mean, uh I'll be honest with you. I think I think the fifth, I think the 45 number is a good number. I'm not gonna know until we really get in there and take a look at things. Yeah. So just give me those five days, we'll do some due diligence, and then I'll let you know if I can move forward with that. If I can, I'll tell you, hey, it doesn't work. At that point, we could renegotiate a different price, or you could move on and sell it to somebody else or whatever you want. You have that option at that time.
unknownOkay.
SPEAKER_01So I'm gonna need to email you an agreement. It'll come right into your email. You just open that up, look it over, let me know if you have any questions. But as soon as you sign that, then now we're officially under contract. That now means you're committed to me, you can't sell it to somebody else four or five days. I've got five days then to decide what to do after I look at it again. We're gonna do a walkthrough. At that point, we move forward, we close, you know, 25 days later, we open escrow a title and go through all of that, or we resit down and re-look at it. Does that make sure that process make sense to you?
SPEAKER_09Yeah.
SPEAKER_01Okay. Any questions on that?
Explaining Contract Vs Closing Money
SPEAKER_09No. The only thing I gotta say is I don't sign anything ahead of time.
SPEAKER_01So ahead of time meaning what?
SPEAKER_09Yeah, until I see the money, I'm not signing nothing. You can come look at it, that's fine. I'll show you around and yeah, but I don't put my name on anything until I see the money. Well, that's the transfer that the day we figure it out.
SPEAKER_01Okay. So are you familiar with how a real estate transaction works?
SPEAKER_09Uh yes, so to a point, yeah.
SPEAKER_01So there's two things that happen. One is an agreement between you and I. That that's a commitment we make. The second thing is the actual closing, where the in this case the title transfers to me and the exchange of money goes to you. And we use a title company to do that. So there's two things that happen in a real estate transaction or really any transaction: an agreement to do the deal, and then the closing where the transfer of money happens. So you'll get the you'll get the $45,000 at the closing, and you sign over the title to the trailer to me, I hand you $45,000. Prior to that, we just have an agreement that says, you're committing to me, I'm committing to you. It's like we gotta we gotta date and then we get married. But we can't get married until we date. And the way we date is we sign an agreement because I have to know you're committed to me and you're not gonna sell it to somebody else, and you want to know I'm committed to you, and I'm gonna buy it. So we call that a purchase and sale agreement.
unknownOkay.
SPEAKER_01So that's what I would email you a purchase and sale agreement. The transfer of money doesn't happen yet, that happens in 30 days, assuming we get through due diligence and everything checked out.
unknownOkay.
SPEAKER_01But I can't move forward and buy your trailer if we don't first sign an agreement that you're gonna sell it to me and I'm gonna buy it from you. So that that has to happen first. So I would email that to you, you would look it over, it's gonna have agreement in there, like we're gonna close in 30 days, uh, I'm gonna pick the title company, I have five days to do due diligence, the price is gonna be 45,000, your name, my name, you know, some other things in there that protect both you and I. It'll say things like, I'm not a real estate agent, I'm representing myself, things like that. And then that agreement is what commits you and I to the deal. Then we go forward to a closing, is the next step. Ah, okay. Yeah. See how that works? So you're right. You you don't sign anything until the title company says, Hey, I got the funds, they're sitting right here. As soon as you sign this, I give you the money, and it happens all at the same time at the title company. And the title company is gonna do research, make sure there's no liens and all of that. That's their job. Is it so? Is this something you want to move forward with?
SPEAKER_05Yeah, sure.
SPEAKER_01Okay. All right, let me let me double check I've got the right email address.
SPEAKER_02Uh it's on it's on my note.
SPEAKER_01Okay, so give me a few minutes. I'm gonna draft that up, and uh it's gonna be a little bit different because my contract is a real estate, it's a purchase of real estate, and this is not a purchase of real estate. This is like a car transfer, it's like a it's a trailer because it's a it's a manufactured home. But I'll word that in there for that. Um, because remember, I'm not buying real estate, I'm buying your trailer. Okay, so it's it's a little bit different than a than a traditional real estate transaction, but at the end of the day, it's the same thing, really. Okay, okay. So I'm gonna send that over to you. Be looking out for that. I'll text you when I send it to this number so you know to go into your email and take a look at that. Okay.
unknownOkay, Jokie.
SPEAKER_01Okay, then once I have that signed, it'll notify me you signed it, then we'll be officially under contract, and then I'll reach back out to you and we'll schedule a time to come by and take a look at it.
SPEAKER_09All right, sounds good.
SPEAKER_01Okay, awesome. Looking forward to working with you, Ira. Appreciate you.
SPEAKER_09Thank you much.
SPEAKER_01All right.
SPEAKER_09I'll I'm waiting for it.
SPEAKER_01Okay, talk to you soon. Bye.
SPEAKER_02I have no idea if that's a deal.
SPEAKER_01Oh, you're muted.
SPEAKER_08Oh, I'm I'm muted. I thought I unmuted myself. So he said it got appraised for a hundred thousand dollars currently. Yeah. Not in writing. It's not in writing. Um, it doesn't have cockroaches with wings, it's just a standard German cockroach.
SPEAKER_01Yeah, those aren't nearly as bad, I guess. They don't eat as much food, RJ, the little ones.
SPEAKER_08If anyone has ever wondered if this show is scripted like the NFL is scripted, um I mean it is, because that's actually what happened when Jerry came in with his family. His kids actually brought cockroaches to my house, and and I've been trying to get rid of them ever since. I I think he was wrong. Online, it says the year the trailer is 1982. That's what I saw. He said 78, but then 78 works as long as I don't know, that's just gonna be a tough deal.
SPEAKER_01Yeah, I mean, if his cash flow is right, maybe somebody wants it for cash flow, but I don't know. Old trailers are hard to move, nobody likes old trailers. What he said it needs in work is gonna be way more than what it sounds like, it always is. Okay, do you officially have to like leave in five minutes? Yeah. All right, then we're just gonna you can keep it going if you if you wanted
Takeaways From A Tough Call Day
SPEAKER_01to.
SPEAKER_08No, let's just wrap it up with that. I'm not I'm not dying to get one more in. Every time we do the one more dial, it always ends up being like we should have ended.
SPEAKER_01It's a disaster, yeah.
SPEAKER_08Yeah, so yeah, I'm not doing the whole like you're leaving, and then I have to dial for 25 minutes to try to get someone to answer, and then it's gonna be like awkward, and so we'll just we'll wrap it up with that. Um, so we each end a contract, but man, do you remember the day where uh every seller that we talked to was a man that had to talk to his wife? Yeah, I remember that day. Today was the day where no matter what, it was like every single person was like, I'm not signing anything. Come see it first, and then I have to consult with somebody else. Yeah, yeah. Just I it's so funny how uh like certain days just have personalities.
SPEAKER_01Which, which um, you know, what's great about this show, RJ, is this is the reality of it, guys. I hope you I hope you see the good, the bad, the ugly. RJ and I don't we don't hide that. We show the reality of this. Sometimes it's extremely frustrating because you're talking to somebody and you're like, listen, if you would just let me help you, I can help you get out of your own way. You know, like that happens, and you know, you got to be patient with some of that and and roll with it. And also, you know, RJ, I'll say this. Um, you know, we we didn't have the laydowns that you and I love, or these great conversations, or these highly motivated sellers, but we don't need that because we had a good answer rate. Like we were on the phones the whole two and a half hours. Facts. And as long as as long as you can get me leads where I get on the phone, because I know how to be consistent at this, we're gonna do deals because you you'll convert some of these people into deals, even though in my opinion, this is probably the best showing that speed to lead has had in probably three to four months.
SPEAKER_07Yeah.
SPEAKER_08In regard to connection rate, um, I thought all the leads were motivated. It's not speed to lead's fault that they want to talk to somebody else, or they got screwed over by somebody doing a novation or a wholesale. That has nothing to do with speed to lead whatsoever. Um yeah, I mean, we had the Joker in Connecticut that was a fake lead and messing with us and whatnot, but again, irrelevant. That's a refund. Move on to the next. I thought this was a fantastic show by Speed to Lead. Thank you, Yuri and Gene, for providing us with the leads today. Um, but also to your point, we you and I had placed two dials that carried us through the entire first hour, right? I mean, that's a very quality conversation, both leading to potential contracts. You know, we'll see how that plays out with the Michigan one. Uh, with her saying, you know, she's gonna call you back in 30 minutes, then four hours and all that. But yeah, again, like you said, this is what a real day in acquisitions looks like.
SPEAKER_01So and um, you know, if you guys learn from these calls, then you need to be asking yourself, what do I say when they say they need to talk to their sister, brother, realtor? What do I say when that happens? What do I say when they say, you know, how do I get people to pre-commit? You'll notice both RJ and I were would constantly pre-commit sellers. You mean if I can do this, you're ready to move forward. And then they have to answer that. They have to say, oh, blah, blah, blah, and get out of it, or they have to say, yes, I'm ready, or no, I'm not ready, or whatever. Like this is these calls are so valuable because you learn how to overcome objections and how to handle those when sellers are doing stupid stuff or saying dumb things, or you know, they're inconsistent or incongruent with what they're saying they want. You have to be able to listen to that, say it back to them and say, Is this what you mean? Okay, well, if this is what you want and I can give that to you, are you ready to go forward? Oh, you're still not ready to go forward. Okay, well, why? And work through those things. It's the only way to get through some of these sellers.
SPEAKER_08Jerry, it's so funny because it's so often I get asked by people, how do I overcome this objection? But then when we looked at our calls today, there was never a single objection, there was a wave of objections by our sellers. And it I think that, like you said, you have to get comfortable with that, you have to get comfortable. I think the thing that you and I always lean on is going back to that transparency and just the honesty behind it, and then also just understanding what they're trying to accomplish. Like, that's why I kept hammering it with the one guy where he was like, I asked him, what does this eight thousand dollars to you? It means everything. A couple hundred dollars means, but then he was willing to write off four thousand dollars just so I wouldn't be a wholesaler, yeah, right? I mean, lack of logic was was today's episode. Um, honestly, man, we should put together, I probably will do this, a compilation of your call and my call, and where it's like, hey guys, logic is just not always going to exist with motivated sellers, and just come to grips with that. You're not going to be able to overcome sometimes just no logic existing.
SPEAKER_01Well, you know what's fascinating, RJ. On that call with that guy that I literally wanted to slap, um, in the very beginning, he was like, Oh, you tell me the price. And I wrote a comment, I said, RJ will eventually get his price. Yeah, because you're so good at what you do, you're gonna keep asking questions, you're gonna draw it out. At some point, the guy's gonna say 45 or 40, whatever the guy's number was. Like, so when someone says, I don't want to name the price, you name the price. What you did, RJ, is you said, Okay, you asked some more questions, you came back to it. You asked some more questions, you came back to it. You asked some more questions, you came back to it. You were you were going to get that guy to say his number at some point in time. He just made it extremely difficult for everybody because why didn't you just tell me it? I'm gonna get it out of you anyway.
unknownRight.
SPEAKER_08Well, what was really funny about it is that he actually made it, he insinuated multiple times that his asking price was what he owed on it or what he paid on it, 36,000. Yeah, and so finally I was like, okay, I'll give that to you. Yeah, he's like, Yeah, but I kind of want more, and I want to hire the realtor and all that. Just weird calls when you put it in a short window, but very common calls when you just look at what acquisitions really is.
SPEAKER_01And my call, RJ, my call, I said hello. She said, I'm Angela, I want 40,000. I know she's in the first five seconds, she told me her price, and then she had all the reasons why she couldn't do that price.
SPEAKER_08Yes, but again, every single one of them was because of somebody else. It was not because of RJ, it was not because of Jerry. It was I had a bad experience with somebody else, and because of that, I now fear that I'm gonna have a bad experience with you.
SPEAKER_01And to make matters worse, like kick us while we're down, they were great prices, they were great deals. So here you and I are trying to put a deal together, and the process.
SPEAKER_08I still have mine entered into profit calculator. ARV 200, 50,000 repairs, which he said he got a bid for, contract price to sell are $45,000, $15,000 wholesale fee, which is just what I plugged in, contract price to buyers $56,000. The potential profit is $70,000. You're like, hey, I'll I'll fund this if it's a good deal. And I'm like, this is probably uh a $30,000, $25,000 to $30,000 wholesale fee.
unknownYeah.
SPEAKER_08And he's over here like, hey, I don't want you to wholesale it. And it's like, all right, well, fine, then we'll just wholetail.
SPEAKER_07Yeah.
SPEAKER_08You know, so yeah. Anyways, I know you gotta go, Jerry.
Next Week Schedule And Sign Off
SPEAKER_08I appreciate this. For everyone that normally tunes in, we will not be live next Tuesday. Um, we're actually having Titanium University's uh yearly event, Element 22. Jerry and I will both be there. So we'll have a week off. There will be a video, it just won't be us going live, and then we'll be back at it the next week. At least, Jerry, are you are you back at it the week after that?
SPEAKER_01Yep, I'm that'd be the 13th, right?
SPEAKER_08Yeah.
SPEAKER_04Yeah, for sure.
SPEAKER_08Okay.
SPEAKER_04So we'll miss you guys next week, but we'll be back in two weeks. Thank you guys.
SPEAKER_08Appreciate you. Thanks, RJ.
SPEAKER_04See you guys.