Welcome everybody that is watching live this is the weekly investor Thrive live call that where we basically break down all the things that everyone needs help with, like any questions that anyone has how to use batch what’s going on with wholesaling, if you’re struggling, if you’re not getting deals, why not? We’re here to answer those questions, we’ve teamed up basically to provide as much value as we can for everyone here.
So you know, what’s really interesting about being virtual, and this is good for everyone to hear. Because being virtual, it’s like, you feel like you know, someone, right. But when you meet in person, it’s like, this is so much better.
Oh, I know, I’m like, Yeah, you kind of feel like you know, somebody already. And then you’re like, oh, I can just, you know, actually get to talk to you. And you don’t have to schedule something out to get time with somebody. So I love it.
And meeting in person, it really does help develop relationships way better. So if anyone is doing business in their own markets, and a seller wants to meet, you’re going to have much, so much greater impact and connect with them over like in person than you will over the phone. Now, me having said that, like I love to just do deals over the phone and over zoom just so I don’t have to drive anywhere I get lazy. Like even if someone’s in my neighborhood and wants to sell I’m like, let’s just do this phone, because I don’t want to waste my time, time is so valuable. But if you’re new to this, I would suggest when you’re new doing it in person, because you are going to be able going on appointments in person meeting with buyers in person and going to meet up because you’re gonna develop so much better relationship with people versus just virtually so.
Yeah, absolutely. I agree. It was really cool to see that too at the event, you know, and other people coming up to you that have just seen videos or whatever. And just meeting people from the community, it makes a huge difference and was so nice and exciting to actually see people in person rather than just on a recording or a video or whatever. So I left that.
So let’s dive right into this.
Let’s go over I really wanted to talk about in just sitting in as well with you the other day and your call, we could kind of just talk about with people, cash buyers and building those relationships. I know that you’re talking about it all the time with reverse wholesaling, but just for anybody that hasn’t maybe dabbled in that or hasn’t done it that way, I think would be really cool to kind of talk about that. And then I can show it in here as well.
So a major issue a lot of wholesalers start out with, like when they’re brand brand new is they do not know what a deal is they do not right. Like they just say like, Hey, go find a deal, right? So they’re talking to a seller, the seller is like yes, I want to sell my neighbor sold their house for 250. I’ll sell it to you for 200,000. Right. So as a brand new wholesaler, you’re like, let’s say the house is in decent shape, right? So it doesn’t need that many repairs. So you’re like, Okay, she’s giving me a $50,000 discount that might work. So they put it under contract, and they put it out at 210. Right, the ARV, let’s say is 250, the seller saying I’ll give it to you for 200. And they’re putting out a 210. So they’re trying to get it sold. And they can’t find anyone that is interested in the property. And they’re like I got it for like way lower than it’s worth. Right. Right. There’s a couple problems that street, that area where they have that deal could just not be a place where a lot of investors are interested in it could be in a bad industrial area could be in a bad neighborhood. So there’s a lot of issues right there. Like just with location, location is very important. When investing you could be a brand new wholesaler that’s doing this in the middle of North Dakota, where there’s a population of 1000 people and you’re trying to do this in a town where no cash buyers are flipping homes. That’s another problem. Not only is it the neighborhood’s bad, maybe you’re just in a bad town, bad city. And I know this because I did nationwide wholesaling, we would get leads from the middle of nowhere, and the seller would be self motivated. And we’d be like, Oh, wow, this is great. We got it like 50%, then you’d find out that nobody is buying in that area. You tried everyone you were calling agents, you called everybody but no one’s buying. So that’s a big problem that wholesalers are having as they just are told to go out and go find a deal. But there’s a lot of things that can happen that caused them to waste their time. So locations a problem and how do you overcome that location issue is, well, you find the buyers in the area first, and if you can’t find any, it’s probably not a good area to invest in. Right.
Yeah, I mean, that’s one of those things because sometimes with challenges or whatever we’re doing and going into batch leads people will be like what if there are no comps or what if there are no properties that have sold here within a certain timeframe and it will just kind of depend on the group but a lot of the time people that just stay away you know, it’s going to be so much harder or almost near impossible I hate to say impossible, but nobody wants to be buying over there you know type deal so right? It makes a huge difference.
So let’s just say this right let’s say there’s not a lot of comps that probably means that there’s not a lot of action going on in that area right if there’s not a lot of flip comps, so that’s not good news for you. But let’s say you’re in a small town let’s say I say small town so like 50,000 right but you find that buyer who buys up everything he loves rentals in the area you just found the right person to work with. So if you go ask that buyer if you network with a you take them out to lunch, you call him you get on a zoom call. Do not just text That’s not gonna help you develop that relationship, but you call him and say, What are you looking for, and he gives you that specific criteria of what he’s looking for, you’re gonna have a much easier chance of getting that house on that street that he wants. Now, let’s say a random lady on a street that he did not say he’s interested in, says, hey, I’ll sell you this house. And I’ll give you a great deal. Well, who’s the best person to talk to that buyer? You can say, Hey, your criteria is not in this area, would you even be interested? So I even pursue this? And he’s like, no, no, don’t even I’ve been investing for 10 years, that play stinks, right?
Yeah. Because then you know, I mean, then you move on to the next one and go from there. I think that building those relationships with buyers, and that’s why I think your whole like what you’re always talking about Payneless Wholesaling, and really focusing on reversing that and reversing wholesaling strategy is just building those relationships first, so that you have the confidence to know what to look for. Because we can talk all day about like, if a property looks like XYZ do it. But it’s like, if somebody’s going to buy that, you know, even though it’s going to actually be a great discount, like in your mind what you’re going through. So maybe I’ll just kind of show how you can pull this up. Yeah, it’s like all these buyers. Alright, so when you’re in here, and you are wanting to start like how do I even find these buyers, obviously, there’s a plethora of different ways you could go about it. And the community Nathan has a community and discord we have when it for batch service in Slack that you can connect with people in your same exact market, there’s real estate agents like everybody under the sun is in there. And it’s a great place to network in these communities. That’s a way there’s Facebook groups. So this one right here, let’s look at alright, this property right here, they’ve owned it for seven months, it was built in 1946. And this is an awesome property that you can tell has absolutely been professionally flipped. So then we could, you know, reach out into skip trace them and start those conversations about, you know, what they
might move into their lands.
You know, I’m like, I’m liking this, sometimes you’ll look at a house and you’re like all the landscaping, it’s beautiful, it looks awesome. I was on like, you know, we were showing people how it works hopped in, and I was like, ah, they just did fresh paint, they don’t do anything. So it’s always good to come in here and kind of see, you can tell these are all brand new doors just ooh, awesome. Awesome. That’s cool. What you could do at this point is if they still own the property, and you could skip trace them and get their contact information with just a click and give them a call right here. In fact, you could also move to the MLS chat, I mean it talk a little bit about Nathan, like your relationship building with agents, because look how cool this is to come in. And just be like all this has been professionally remodeled. I’m gonna call up the agent here and you know, go from there. But this is important to you know that.
So check this out. What I like to do is I like to call the real estate agent that represents the cash buyer, because I know that the agent usually has a good relationship with not only that probably cash buyer, but probably many more. So we can see right here who this agent is it’s Scott Meyer, and we could give him a call. So let me give him a call. I’m gonna reference the property that we’re looking at Scott Meyer. All right, let’s call them This is my first call of the day. By the way, you probably should start your calls off with like a roleplay. Or practice or you’ll you can come off rusty, we’ll see how I do. First call the day. With an agent right at the tone, please record your message. Initially, what I would say one more, he answered, Hey, Scott, how you doing? My name is Nathan, I’m calling about your listing that is in Phoenix, I was on 3029 North. The reason I was calling is because I see that looks like a beautiful home that’s been flipped. And I’m actually looking to buy a home in the area myself. But I also flip, but I primarily do my deals in Utah. But the reason I’m calling is it looks like you represent a lot of cash buyers in the area that are flipping. So I was wondering if we could chat, I’m looking for some flipping from opportunities to flip properties. I also find properties that I don’t want to flip and I want to wholesale. So let me know if you’re interested in working. It looks like you do work with cash buyers. So I’d love to chat. So give me a call back or I’ll send you a text as well. And I look forward to talking Thanks. Bye. All right. So that would be basically it. And just see you know what we’re and we would network, right? And right after we network, I put his information in my CRM and I follow up if you have a lot of conversations, I’d say at least 10 to 20 conversations like that a day you’re going to get a deal. You’re going to find an opportunity. If you do this consistently. The problem is a lot of people will they want to make money and do deals, but they’re not making calls. They’re not connecting. They’re not taking action.
Yeah. I mean, would you say that for anybody that is hesitant on starting to call either buyers or agents, you know, obviously it’s going to be so much different, different dynamic and deal of the call compared to sellers, but what would you say for that specifically? Because that can be really scary even talking with buyers and agents for some people for any advice that you could give people on how to kind of get over that hurdle or would you say like role playing is the thing for people to try out find people and communities and things like that?
Yeah, so I got two answers. So one, I would say role playing and probably cinco is going to help you out a ton. If you’re not a part of the community, I definitely would invite you to join, I think the batch
Yeah, I think anybody could join it. So if you guys have interest in it, then we will definitely get you in there. I mean, there’s so many different people providing value. So I don’t want to exclude anybody from that.
Yeah. And I also have a free community as well on Discord on my Facebook group as well, where you should be connecting with other people to just roleplay and practice. Second is if you aren’t genuine, if you’re not real, if you feel like you have to lie, it is going to be difficult for you to get on that phone. So when I’m saying that, if you’re calling this agent, and you’re like, Hey, my name is John, and I’m a flipper and you haven’t flipped one deal, it’s gonna be hard for you to want to make that phone call, right? So I’m not telling you guys, if you’re brand new to lie, I’m telling you just be genuine call this guy and say, Hey, I’m new to investing. But I find a lot of opportunities. And I’m not ready to flip right now. But I see you work with a flipper. If I find anything, can I bring it to you that you would help me bring it to your buyers, that’s a genuine conversation, you’re being honest, being real. And there’s nothing to be afraid of, if the guy’s like, I don’t want to work with you, you’re new and you don’t you don’t call the next person.
But I was just about to say, you know, for anybody like that, and just move on from somebody that maybe doesn’t want to deal with somebody new, but because I think that that’s a lot of the fear as well is I don’t want to say that I’m new. And that’s where the lion comes in. It’s gonna sound credible, and like I know what I’m talking about, even though I want to just get the ball rolling. And you got to start somewhere.
I think this conversation that people build up in their mind as new investors that they have to act like they’re experienced investor, they have to act like they know, like, everything. That’s where they get messed up. Because, well, if they ask me a question, I’m not ready. Don’t do that. I can have a genuine conversation with someone. I’m new in Phoenix. I don’t do a lot of deals in Phoenix. So I’m gonna be like, Hey, I’m new. I’ve done deals in other areas. And if I didn’t, haven’t done deals, I’d say, Hey, I’m brand new, and investing in general, but I know a little bit about it, I’m gonna start looking for deals. Can you help me? If he’s like, No, I don’t work with noobs. That’d be like, Okay, some agents are gonna like that. And they’re gonna miss out because who brings people a lot of deals, new hungry investors that are willing to hustle and grind. When I first started, I brought a deal to an agent, I didn’t know I got to like a $42,000 assignment fee. I thought that was great. It was great. But what happened is he was more experienced, he took it from me, and he went in flipped it for like 150k. But I didn’t know. So all I’m saying is people that do not work with new investors not saying to take advantage of them, but they just don’t know how to make the amount of money that an experienced person would. So if you don’t work with them, you’re given up on a lot of opportunities, right?
Absolutely. I think that is super vital to just remember is that you got to start somewhere and you just got to to go along and figure it out and be honest along the way and genuine so it’s right
in Braxton Sutton says you’re right, Nathan, this is true. I really believe that’s like, deep down. Like that’s why people don’t want to make these calls as they feel like they got to be something they’re not. And if they get caught, they’re gonna look like idiots or feel like they’re dumb. Just don’t try to act
Yeah, you’re gonna find the right people, I think that you want to surround yourself with anyway that are excited for you to get into it. And it might not be your first call, you know, it might be down the line. But to just continue. So I wanted to ask you to Nathan, this question just came in since we’ve been talking about buyers. Let’s talk a little bit about you know, now with looking for deals I have this question in the community dealing with wholesaling notice of sale and pre foreclosure like can this be done you know, had a couple questions about this and people are going back and forth with notice of sale which by the way you guys can find that stuff in here too. And actually don’t kind of have it up while we’re talking about it but if any like your experience with that or you know those types of properties and what you can do with those
if something has not like if the bank does not own it yet, you can do a lot of things you can stop a foreclosure so if someone’s in pre foreclosure you can stop it by showing like an agreement the right to purchase it, we actually stopped a sale in Richmond, Virginia where it was going to go to foreclosure but we had the attorney that we’re working with the title companies in this information they were able to prolong it so that’s actually a super motivated seller lead right if someone’s about to lose their home you just need to be able to act quick and that’s the power of networking is you might not know what to do but if you have the right attorney the right title company or the right you know coach or mentor that can help you navigate that situation you can definitely make money on deals like that by stopping it and getting it done. So I think to answer your question is just if you have that opportunity, just make sure you have the right people in your corner so you can take it to the finish line.
Okay, cool, because you know, there’s a lot of things like that and once again, for all of you guys watching if you’re wanting to get into a community like let us know once again, Nathan has one and discord we have one with batch service to help you obviously with the product and to have this group of people answering those and asking those questions that maybe you’ve always wondered but you just haven’t put it out there type deal and in your market as well. So I thought that that was a really good one just because there are so many different data points that when you’re I found anyway, when talking with people new into the investing space are like I don’t even know like, is this a good data point like what does this really mean? And what I found is that nobody wants to ask what is this mean type deal like, you know, people just say, oh, pull the Pre Foreclosure list or whatever the case is. And then people just say, okay, and they don’t know. And I think we have to talk more about what these data points are actually bringing up and what is actually going on in that type of person that you’re pulling in that list, like somebody that has a notice of sale type deal, like, why is that somebody you should reach out to? How could they seriously benefit from you reaching out to them? And what type of opportunity is that? So I love that. And you guys can pull that right here. And it actually it’s to for sure, for sure.
There’s a quick question that came through the YouTube, Shawn Baxter is asking what CRM are you using? So if you’re referring to this software that we have pulled up, that’s batch leads, it can be used as a CRM, but that’s batch leads that we’re looking at? I think we’ve done pretty good today kind of talking about buyers.
Yeah, yeah, I think that that is huge to really focus on so I’m glad we got to have a good conversation about that.
All right, everybody. Well, Landry was awesome. I had a good time. Do you have anything else you want to say before we wrap up?
That’s pretty much it. And I think just overall you have to start somewhere. And sometimes you’re just not going at whatever it is like literally whatever it is, you’re not going to know what you’re talking about at first until you continue doing it. And now you know so I think that literally is an anything we go through in life. Whether it’s investing or relationships we have with people or things that we’re practicing within ourselves is you just got to take the action and continue on. Awesome. Thanks, guys.
