You want to get cash buyers but you don’t know what steps to take and how to do it check out this live call where I break down exactly why you want to find buyers first before you start looking for deals and how to do it using batch leads. I got the whole breakdown for you right here so check it out
gonna explain really quick to everyone how this works, how wholesaling works and how what I’m teaching you today and what I will show people is changing the game it makes it way way less complicated because I’m telling you if you just go and lock up a deal and you do not know if it’s a deal even if it’s like really discounted you really just don’t know so waste of time. So usually Landry how do people start wholesaling? What would you say? Like it’s usually just go find a deal, right?
Oh, yeah, usually people are just like, Okay, let’s hop in the car and find a distressed property. And just because the the yard is overgrown, that’s probably a deal. That’s I feel like how people are kind of taught in the beginning is look for something distressed. And that’s probably going to be it with nothing else, you know, in my would say,
so the old way, the way you just talked about is it causes a lot of issues, it causes problems, because let’s say when I give you a lead, I’m like a landlord, this person they want to sell and they’re really motivated. And then you’re like, Okay, great. Negotiating with him. What do you have to do to start negotiating and knowing if like It’s a deal? What?
Run your numbers? Yeah, you’re going to determine what the ARV is and and start running your comps.
You got to run comps. And if it’s in an area that you’re unfamiliar with, which if you’re brand new, you’re unfamiliar with pretty much everything. Yeah, it’s difficult. You’re like, Well, I think this is
this is a good area. You know, I think people want to live here.
I, I think somebody might want it. So usually people run comps, and then they negotiate, right? They negotiate that rule, and then they sign paperwork, right? And then they sign a contract and they sign the contract after running numbers. Now hopefully, nobody’s just doing this completely like blinds like Well, let me just sign it. Hopefully I can get it done. I don’t know you should be able to run comps. If you do this model, you should be able to know how to run comps and be able to negotiate a good deal. But unfortunately, not a lot of people are good at negotiating or even getting the deal down low enough, fully in order for you to get a deal low enough, depending on the price point in the United States where you’re at. If it’s like a half million dollar home, even a $50,000 discount below what Zillow says are 100,000 That’s not enough sometimes, right? That’s you need like 150 200,000. But when I was new, and what I see a lot of people on Facebook groups doing they’ll post the deal that’s discounted, maybe 30,000 50,000, they’ll be like, hey, looking for a buyer. And immediately it’s like, bro, you do not have a deal. Yeah, didn’t close. So what did they just do that the old way? They just they just wasted their time, in my opinion. You know, they looked for a deal. How long does that take a long, long time? Yes, they ran comps. I’ve talked to people that have ran comps for 24 hours on a deal. They’re just like, Yeah, I just
I’m not sure to make sure that exact, you know, yeah,
so they ran comps, and then then they negotiate negotiating takes forever, because you got to get them on the phone, maybe it takes two or three, four calls before they agree
got to make sure that all of the decision makers are there because you know, down the line, you could realize that maybe you weren’t even talking to the right person that says they’ll sell it.
And then when you sign I don’t know if you’ve ever filled out a real estate purchase agreement, like a contract, but it’s pretty time consuming. You have to type in their address their name, your LLC, some CRMs will do automatically, but then you got to get their email, you got to send it to them, you got to wait for them sign. Then once you’ve done all that, let’s just say this whole process can take you months, like mine, yeah, it can even take you weeks, but let’s just say months, then you do that. And then the next step that most people do is they’re like, okay, okay, now let me find my buyer. Let me let me see if I can find a buyer find my buyer. So you just spent months before you got to the real stage that actually gets you paid?
Yeah, like you don’t even know if somebody wants that property after all of those steps.
Exactly. You don’t even know you just wasted all your time. Believe me. I’ve been there and I did it. When I was brand new. I did the whole thing. I was cold calling four hours a day, four hours a day, eight hours a day. I was kind of trying to run comps, I would negotiate a deal that I thought made sense. And then I get stuck here and then I’d be like, nobody wants to buy my deal. Well, yeah, slash my I suck. At negotiate. I didn’t have the right price. That was the problem. Right? Yeah. So if it’s not a deal, then people are like, well, let me renegotiate. Right, renegotiation can take quite a bit of time. Not only can it take a lot of time, but you lose a lot of trust. The seller is like hey, you told me this price now you’re telling me another I don’t even believe I got five other people calling me
no I think that this is where like honestly like this process. Maybe not every time you know and of course everybody’s going to have different skills and things like that. So if you guys are doing it this way you’re like works for me. You know it’s not the end all be All of what we’re breaking down here. But it’s like, I think that that’s also this process is where, you know, agents that you reach out to, or people that have heard have wholesaling, and wholesalers, that’s where that becomes like a swear word for people, because this process because they’re like, you’re not going to perform, or you’re gonna come back and say, You can’t buy it for this, and you’re gonna back out of the deal.
Now, don’t get me wrong, this process works it all here, if I’ve done hundreds of deals like this, but it works if you’re able to know what a deal is, if you’re good at your area, if you’re like, Oh, that’s a deal. And if you’re good at negotiating the right price, like for example, if someone if I’m talking to some a seller and their their houses were 500,000, and that needs $80,000, in work, and it’s gonna take like six months, I know, okay, I’m gonna need to be around 200,250. I just know because of the work the time. So I asked the seller while negotiating, what are you looking to get? And she’s like, I’d like to get remember, we need to be around 200,000 If she’s like, I need to get around like 303 50. I know, I got someone who is reasonable, right? Like I can work. And we can probably negotiate to that point. And this process will work. But if they’re like, I need like 400,000. And they’re just way off, you know, you can try and negotiate and lowball them. And they might be interested, you can try and run creative. But what I do and the way I get offers is I kind of go past finding the deals is not the difficult part. It’s kind of like this stuff, like thanks to batch leads, you can find deals, you can find opportunities, right through agents, all that stuff. But it’s running the comps negotiating doing all this. It’s not difficult. It’s time consuming, very time consuming. So what I do is using batch leads is I go and we’re going to talk about the payneless flipping method. The first step that I do is I master my area and network with buyers. That’s try really hard to read with buyers looks great. And the reason why I do this first is because when I get a deal that I find, right, I’m looking for deals in areas where I have buyers, right I’m not trying to look in areas where I don’t have anyone that would be a complete waste of time. Yes. Right. So for example, Landry if you were like, hey, Nate, I got a great deal in Pennsylvania. It’s in the middle of nowhere. It’s got 10,000 People that live 10 People live in the town for me, I’m like, first of all, don’t want to worry about them.
Like doesn’t that sound really good?
But I got a great deal. You couldn’t convince me? Like, hey, even if it’s a great deal, I don’t have my buyers. I haven’t mastered the area. It could be a waste of money. Yeah. So it but if you came to me and said, Hey, I have a great deal in Phoenix, I have a great deal in major cities. That’s where I focus on Salt Lake City, then I’m like, Okay, let’s talk about it. Right? Because this is something that I know, then if you give me the lead, right, so next thing is fine deal. So if you give me the deal, what do you think I’m gonna do with this deal that you just gave me? If I know it’s reasonable, and it’s in the area? Like, what do you think I’ll do? It’s okay, if you don’t know the answer.
I don’t know. I don’t know what you would do. Before.
I would do a quick quick analysis, we’re using graphs that would quickly just be like, Okay, you have a deal. You’re talking with someone? It seems pretty good. I’m not 100% Sure. Because I’m not buying it. You know, and I don’t want to lock it up yet. Let me do something really quick. Let me just ask the people that are going to buy it. We don’t even
we before you even like, okay, so send something over before like, right after you do a quick analysis and say, hey, that’s something that you would be interested in.
Exactly. Because I haven’t heard it. Yeah, yeah. Cuz I could just waste all my time. Be like, well, Linda, let me look at this deal. Let’s break it down. Blah, blah, blah. It’s like, hey, it doesn’t really matter what I think it matters what John and Jeffrey, the flipper thing there.
That’s really Yeah, that’s interesting, because it’s like, you know, when thinking about you know, reverse engineering and reverse wholesaling, it’s like having the buy box and then just going after it. But then this way, you’re being a little bit more specific, instead of just being like, Hey, I know that this meets Jon’s Buy Box and grabbing it and getting under contract. Instead, you’re saying Hey, John, like I know that this meets your buy boxes is something that you know, before I get too deep into it, something you’d be interested in, is that we think you just ailed it.
100% But everything I just showed you here, which is probably kind of hard to read does not necessary. Okay. Let me give you an example. I just got sent an apartment complex in Colorado. Do I know anything about salida Colorado in the multi unit market there? Don’t know a dang thing. Right? So what do I do? I send it to a buyer that knows before I even have it under contract, he tells me what he’ll pay. And then I talked to the seller and I send the seller contract and I say hey seller, this is what I can pay. Does that work for you? He’s like, send me the contract. I’ll bring it to my family because it’s in a trust. I didn’t have to run comps on a multi unit. I don’t have to know any I didn’t really even have to negotiate. There’s really no negotiation. You can do my price or not. That’s about it. Right? Yeah, that’s what I did with that one.
And I have another one I can show you guys. I was talking to this guy that owned this four Plex. He’s like I want this much. He said he wanted a 2.1 $1 million for fourplex crazy expensive. I was like, Man, I don’t even want to look at this. He’s off. He’s way off. I don’t even want to have to run comps to know like what I need to offer him. Let me just ask my buyers and that’s it. The seller wants to point what he wants to $2.1 million. He wanted for duplexes for two duplexes. So all I did is I took the email that he sent me with the pictures and all that stuff on it. And I said, Hey, is this something you might be interested in? I started negotiating with the seller, he wants 2.1 million, which is way too much, but they always Shuhei let me know if you’re interested in what your offer would be. And I’ll try to get it done. That’s it, like, tell me what you’ll pay. And if I can negotiate lower than that, then we have a deal, no contract signed, no negotiation, and I didn’t have to worry about running comps. So then like 30 minutes later, Jordi is like I need to be at 1.5 Unless he is open to financing. Okay, so I have, so if I can get this guy to come down 600 $700,000, which probably not possible, but I’m gonna give him a shot. It’s a real offer. I’m gonna say, hey, I can do this at 1.4 1.45.
So I can have my fee in there. Yeah, if you do financing, we can pay a little bit more but 2.1. That’s just ridiculous asking price, no offense seller, but it’s just too much. And that’s it. I didn’t spend any time like I said, wasting on doing any of this stuff. And I send it to another one who always buys man, I’m always I’m always saying I’ll look at everything. But I’m probably a mile on asking price. If I wanted to go more I could say well, what would you pay? Let me see if I can get it done. Yeah. So all I’d have to do at this point on this deal is called the seller and just say, Hey, Mr. Seller, this isn’t gonna work for me. But I ran by some some of the guys I buy apartment complexes for with and, you know, they’re offering like 1.4 or five, would that get it done? I know, it’s a lot less than what you said. So I’m not the bad guy. I’m letting him know people that, you know, I can bring to the table and he doesn’t care. And if seller financing is available, maybe we can pay a little bit more. If I wanted to go more I could ask Jordy I could say Jordan, how much more could you pay if they chose that route? Yeah, yeah. If we could do seller financing.
Yeah, that way, you’re not saying like, Hey, I negotiated with the seller and got him down to let’s say 1.8. And you’re like, that’s awesome. I got a really great discount, right of what they wanted, but then they’re like, yeah, sorry, that’s gonna be several $100,000 still off of that. And then you’re like, great, let me go in No wonder you know, if you run into upset sellers, that might be why so
what would you do to start developing relationships with buyers of bachelors there’s many different strategies I teach especially if you go to my master class or join my Facebook group I go over like how to develop these relationships. First, a bachelor’s is a good is a good option. You can use it with what you’re on right now is Agent outreach, Agent outreach are like the key to buyers, right? They they have buyers, they represent buyers or they buy now batch leads also has a tab in the I think it’s under Yeah, properties. You can search cash buyers in this specific area. So if you wanted to, you could just pull cash buyers in Phoenix or wherever you’re at. And using the CRM that I showed earlier, you can put the list into the automatic buyer outreach, and it will automatically text and email buyers in the buyers that you find here and ask them
Hey, are you still buying what are you looking for? What’s your buy box and it gets the conversation going. So you know if you have the right info, it will save you time on instead of just picking up that that phone and just dialing or putting it in a cold call. And by the way, if you liked this video, smash that like button so more people can see it. And we’ll get you more content like this where we show you exactly how to do it step by step.