Dealing with a seller who was addicted to meth was not easy! – Wholesaling Story Time (EPISODE 4)

What’s going on everybody today you’re here obviously for Nathan pains wholesaling storytime hails from the trenches. That’s exactly what we’re going to be going over today is my experience as a brand new wholesaler getting deals showing you guys the truth because a lot of the stuff out there is not real.

A lot of people just talk about their wins. I’m about to tell you guys about my wins my losses, so you can learn from my experiences. Okay, so if you were here on the last week’s episode, where I told you how we got a deal from working with Don, and the $19,000 deal that we got from flyers, and if you’re part of our email newsletter, you got the exact template of the flyers that we use, so you can use them yourself if you want. But this week,

this deal that I’m about to let you guys know that I did a $28,000 wholesale fee. Sounds great. It was good had a lot of ups and downs, and my life was threatened. Okay, and I’m not just exaggerating here this it was really threatened. And I want to let you guys know how to avoid situations like this,

if you can, and about this crazy deal because the deal with Don, if you remember the last episode, it went by pretty smooth, we were the worst negotiators ever, we offered more than what the seller asked. We just walked in that one we got lucky. This one this deal that we’re going over this week, the $28,000 deal that we got from targeting specific lists, which I’m gonna give you this specific list we targeted inside,

if you’re subscribed to the newsletter, I’m gonna give you the exact list we hit this was not an easy deal. Guys. This was like my third or fourth deal when I first started, it was something I’ve never dealt with. And I’m gonna get into everything about it. So let’s dive right in. So the years 2018 Okay, first year, I started documented here. And we targeted a specific list that one of the mentors we had at the time said, Hey, try this list. It works. So we did it. And we got this lead from it. We ran into a guy namely, he had inherited a home his father had passed away and inherited a home and he was desperate.

He was in need of cash. He inherited the home. And unfortunately, guys, this was my first experience in my entire life of dealing with someone that was addicted to meth. Okay. never dealt with anyone with like that in that situation. So I didn’t really know how to navigate this situation. I just you’ll you’ll hear in the story. But yes, he was addicted to meth. And it was a very interesting story, which I’m going to lay out with you guys a lot of challenges, okay, and nothing like dealing with Don where we sat on the couch with her husband. And we just came to an agreement.

This was not like we just went and had a civilized conversation. This had ups and downs and arguments and threats. It was like walking a tightrope to negotiate this deal, but we’re able to negotiate it. So again, if you want the resources if you want more information about what I’m going to deliver in this story, make sure to subscribe to the newsletter on Nathan paints wholesaling storytime tales from the trenches. But let’s dive right into this. So we may with this seller, super urgent to get money and you know why? Okay, he needed money. And he was like, I need to sell this house. I need to make money. I need to get my money right now.

So at the time, I wasn’t going there to negotiate with the seller, Cory was going with the broker we were working with so they ended up going to negotiate with Lee multiple times. And I was doing leads management and they were doing negotiations acquisitions management, we were bouncing around roles at that time.

But anyway, so they’re negotiating and I think they had to go like seven or eight times to Lee’s house to negotiate and they ended up finding that he had no money they we we ended up buying him groceries so we could help him make it until the day that we closed and during negotiations with Lee. You know, this is interesting. Cory told me this when he got back he’s like, bro, we were at his house and on his kitchen table.

He had like 20 or 30 mailers from other investors in in the area that were interested in buying the house right? They had sent mail this house and Cory was like, Hey, Lee, are you planning on calling these other investors to get their offers are what are you doing? He’s like now I’m going to work with you guys. So Cory is like okay, do you mind if I take these in? And he’s like, Yeah, that’s fine. Take those mailers. So Cory took all the competition all the mailers from the competition and he just took them I think we just looked at the mail pieces to see what they’re saying but that probably saved us getting the deal versus like having a bidding war but hey,

he said it was cool and he wasn’t going to work whether he liked working with us but anyway, we worked with Lee we got him groceries we were able to kind of work out a deal and he owned the house outright he had inherited the home there was no mortgage on it. So the deal that we ended up working out with Lee was that we would make him do a creative finance deal where we would make him payments every month and he liked this because you know he didn’t want all the money up front where he would just blow it on unfortunately drugs he was like just give me enough and all that will keep me from blowing it so we paid him payments every month we structured a creative financing where we give them a little bit of money up front made a monthly payments interest free right just paid a monthly payments and we would pay him off once we were done flipping the home so they were able to structure the deal and what happened was again guys this very beginning I did not focus on buying finding buyers I focused on unfortunately I focused on just finding deals so when it came time to sell these deals, we didn’t have a lot of buyers So we reached out to Roger who bought our first deal and he was at this point he was like you guys got to pay your dues. I’m not paying what really the deal was worth he’s like you guys I’m not going to pay that much. We had a great deal to house was worth about half 1,000,004 50

We got to a 215 Again, it was not in good shape it needed like complete rehab, but Roger Obi was like, Nah, I’m not paying you guys as much as the house is worth. And we had a hard time finding someone again in the time that we needed to. So we ended up wholesaling it to the broker and we wholesale it to him for $20,000. Now great deal, right everyone, that was the biggest deal we’ve done at that point, we were stoked, but knowing what I know now if I would have had buyers or if I would have known how to flip I would have definitely kept this deal because guys, we ended up wholesaling it to the broker and the broker ended up flipping it and selling it for half a million dollars. So he made probably about 100 150,000 we made about 28, which is fine. I’m not like saying hey, I regret that he didn’t make that he made good money that good for him. But knowing what I know now you need good buyers or you’re gonna lose out big on some deals. Okay,

So we ended up wholesaling the deal. But that’s not where the story gets crazy guys, this is where the story gets crazy. We wanted to ensure that he’d make it to the title, title company to sign when we were buying the house. So we picked him up and he shows up. He’s an older guy, but he’s got like a ball cap a gold chain, he’s looking jete up from the feet up and he comes with his girlfriend, we pick him to the title company, as we’re driving to come he is letting us know the craziest stories experiences I’ve ever heard you think my stories are interesting. He was letting us know when he was homeless and things that he did with the homeless people for fun. He told us like as he was a bouncer how we would take people out. They were crazy and a little unappropriate as well. But I’m not going to get into that. So we get to the title company.

And he signs we sit at the closing table with him and he signs and everything’s fine. And they let them know, hey, the money will be released within 2448 hours. Now he probably didn’t hear the 48 hours part because the next day when he did not receive the funds that he was going to get the next day because apparently maybe the broker didn’t fund it on time or whatever happened. He didn’t get the money next day, he ended up calling me and Corey cussing us out saying he was gonna kill us. He’s gonna find us he was gonna take our lives because he didn’t get the money immediately. Guys, it was crazy. It was a crazy because I’ve never had my life threatened seriously like that before. And the lesson I wanted you guys learn is when you’re dealing with situations like this, I’ve never dealt with someone that you know has highs and lows from withdrawals and drugs, you have to keep your distance you gotta be careful because in this situation, I think we got a little too close with him and friendly where he felt like he could talk to us like that. it was a really interesting experience.

Anyway, we were able to get over he was obviously he got the money just got wired home the next day, like within 48 hours, like two days after close, interesting experience. Definitely nothing like guys nothing like what we had experienced with Don the nice lady with her husband. But look, I wanted to share this experience because you’re going to run into situations where people you know, when we work in this industry want to help people that are in situations that need sell fast, quick is inconvenient, and they can’t sell traditionally, you’re gonna run into some situations like that, but we handle it the best we could. And what I want to invite all you guys to do is I want to give you a gift of the list that we targeted so we could get this deal done.

And if you subscribe to the email, we’re going to give you that exact list we’re going to show you exactly how to do it and give you a link where you can get access to it for free. Okay, so you can target it but I just want to let you guys know that you know this this game honestly like it’s not fun talking about this guy that’s addicted to it was addicted to meth. I hope he’s doing great shout out to him like prayers go out to him. I hope he’s overcome his addiction. It’s not fun seeing the withdrawals that he went through how he was really happy when he was high. And when he was not high and going through withdrawals. He almost looked at he was going to die. It was terrible.

And I feel terrible that the I had to go through this but hope he’s doing good. And you know, I wish there was more we could do for him. Obviously that money that he gets the inherited house, like that’s probably not going to solve his issue. He’s probably you know, hopefully he’s gone to rehab anyway, I don’t want to talk too much about that. But look, as you go through this journey, you’re going to run into some people so just do your best to serve them and help them and, you know, the solution that we came up with him it did help him because again, he didn’t get all the money up front. He wanted that and we’re able to negotiate and work through that deal. Just be careful how close you get when people are running through those highs and lows because you don’t want to get your life threatened. Alright,

So I hope you enjoyed this today’s episode of wholesaling Storytime with Nathan Payne tales from the trenches. I want to invite you again to subscribe to the newsletter we’re giving away the painless offer calculator that cost me 1000s To make and hours to build. I’m gonna give that to you for free along with weekly resources for free guys, I want to hook you up go get it right now and we will see you next week where I talk the hoarder that I moved personally, I moved her stuff got into u haul drove two hours away. That’s a crazy story. You’re gonna find out about that next we’ll see on next week’s episode later, everybody


More Courses