I’d made an offer to an agent. And I told him I’m a wholesaler and I just got the phone call with them. And I told him I needed to send some partners through the property. And I was very transparent with what I was doing. He was totally cool with it. That’s how you run your business. You got to be open, honest, I say wholesale with confidence, right? Because if you’re confident about what you do, then you’ll you’ll win, right
so I wanted to show everyone here really quick how I told this. How, like how I was transparent with this agent, because I feel like a lot of you a lot of people tiptoe around like what we do. They’re like, Oh, you know what, I don’t know if I want to tell the agent. I’m a wholesaler I wholesale. So let me show you guys exactly how I did it. And I had a I just named I just got the call with him to write and I was like, Yeah, this is what I’m doing. And he did he even book it all.
No, man. He didn’t skip a beat. It was like, Yeah, man. He was excited. He’s like, dude, all thank God, man. I’m proud. He was so hyped. He was so hyped to move forward with it.
Thank goodness, you’re sending some of your buyers through the property. I’ll put a lockbox on it for you. Alright, so I was making an offer. I want to show everyone here really quick on how to talk to agents. Because a lot of you might struggle with knowing how to talk to an agent. So listen to this was Jay. Hey, Jay, how are you? I’m calling about your listing on Chasteen. Lakes. This is me making an offer? Do you have a couple minutes to chat? Are you busy? Sure. Yes, I’m just getting a call about the property. I’m an investor out of Salt Lake City, Utah. But I’ve recently kind of backed out of my market and I’m coming into land I grew up here close close this area. Yeah, I just saw your listing, I looked for some properties in the area that looked like it needed a little bit of work. I’m either looking to flip them or rent them. But I just wanted to call you and kind of get some more information on the property. I see the pictures, it looks like it needs some work. But is that kind of that is that kind of situation it’s being sold as is or?
That’s definitely and he, you know, the owner and his wife, when they come back in town, they stay in it and they looked at it, but they just don’t have the time to work on to like, you know, this point. We’re just going to keep it on the market. If somebody buys it great. If not, then we’ll just keep using it as a place to come and park over here. Yeah, and stuff. And so for them, it’s more convenient. But yeah, if we can sell it, that’d be obviously the best thing for us.
So as an investor, I mean, we always, were always looking for good deals, they probably gotten some lower offers and just saying hey, no, we’re just going to sell it if we get the right offer, right? That’s exactly right. Got it. Yeah. So I’m new to the area unrepresented. I don’t have an agent that I work with yet, would you if we were to work them out? Would you be able to represent me?
Or would drop the price a little more keyboard concessions as well?
Okay. Is that what we’re what you do? Instead of double dipping? You you just take off the price and not not take the buyers fee? Or do you? What do you do?
I make it so everybody’s happy? Okay, great. There’s no one thing right. So everybody’s a little different.
Yeah. So for me either way, if you take both sides, are you just break? Bring it down a little bit? It’s all good for me. Right? So
I’ll convince him to get more concessions. Yes. Right. So yeah. Anyway, so you know, we can say if it’s gonna take 25,000 or 30,000, of material, stuff to do it, then just ask him to pay 25 or 30, toward the purchase of the end.
And they’d be they’d be potentially willing to do that. It’s a net number to them.
Right. So that’s true between that and commissions and everything else. So we can act in harmony. Gotcha. That’d be the cleanest way to do is just say keep everything the same. But let’s let’s see if he’ll, you know, give you guys a kickback for repairs and renovations.
Gotcha. So I’m taking a look at the property. I’ve done a little research in the area, not like too much. But the after repair value, is it still with the market the way it is? It’s still around like 525 50 If we repair this all the way or is that is that too high?
No, you actually nailed it. How do you would you use the the evaluation,
I use a service I don’t know if you heard of it’s called batch leads. It’s like, the software’s that you can run comps pretty easily. And like look for Yeah, so wholesalers use that. Yeah, yeah. So I do both. I wholesale and I fix and flip and that’s kind of why I’m leaving Utah is just it’s just getting so it’s getting competitive and not a lot of buyers are buying right now. So I’m like, You know what, I need to go to go to Atlanta, try something different. I’ve always wanted to invest in Atlanta too.
So, you know, the stuff in Atlanta if it’s fixed up itself, right. So it’s just bam.
So check it out. I told them exactly that. I’m a wholesaler, right? Like no biggie. Just if you say with confidence, there’s nothing to hide off. Where’s that you can run comps pretty easily and like so wholesalers use that Yeah, so I do both I wholesale and I fix and flip and that’s kind of why I’m leaving Utah’s just it’s just getting so anyway, so I told them straight up and that’s the thing everyone you can say yeah, I also want to fix and flip I do it all why why would you? Let me tell you guys something really quick that are just getting started that don’t know if you are an investor. If you’re a fixin flipper and you don’t wholesale, you’re dumb. You’re an idiot. Because you can’t as a as a flipper, you can’t take on On every property you can’t if a wholesaler brings you a deal, that is a great deal, but you can’t flip because you’re you’re over leveraged, you don’t have any more money to flip. You’re just gonna let that go. No, you’re gonna say, Yeah, I’ll take that deal. And then you’re gonna wholesale it. There’s a flipper in my market. He did 92 deals last year, and out of the 90 to 60 We’re wholesale deals. And he’s one guy, he’s been flipping for 15 years he’s got it’s one dude. And he’s got three vas, he runs a more profitable wholesaling company than most people because he’s a flipper, that people know and he’s willing to take those deals and wholesale right. So that’s, that’s honestly why I got the model I’m doing right now is just Payneless Wholesaling. No, your be a buyer and know your buyers, people will bring you deals and do deals when you can when you want to flip, and then wholesale the rest. But that’s why you got to do it the reverse way or the I would say the Payneless way the right way. But if you just go and look for deals nonstop, nonstop, you’re going to spend a lot of money a lot of time. And that’s why previous money, because preview will show you exactly where the deals are in your area. And so you don’t have to just go look, look, look, look, look and spend all your money on marketing on stuff. Right?
I love it. Man. I think it’s so funny. So you and I we haven’t really like you know, we’ve been doing our our thing separately, you know, in our own market. So we haven’t really gotten to see too much of what each other’s doing. And it’s funny because we’re both talking about the same exact thing I know today does a really big point I brought up to I was in talking with agents, I was talking with title companies, let’s talk about Title Company, a guy from New Western, and then a couple of cash buyers and the one consistent pattern. And the one thing I explained to the people watching was I was like guys, you know, in my conversation, I’m not trying to like posture and make it sound like Oh, I’m this big dude doing all these deals. Like I’m calling people in Florida with a New York phone number. And I live in Danbury, Connecticut, right? And it’s like, I’m not lying to anybody. I’m not making anything up. I’m just being completely honest and transparent of like, Hey, this is what I’m trying to do. This is what I’m looking for, you know, are you able to help me out? And, guys, I’d say that’s the number one thing that that we talked about is be honest, you know, go about the business in an ethical way. And the funny thing is, when you do that, right, and you kind of put all that other stuff aside and behind you, you’ll find you you get a lot more success, right, you’ll get a lot further with when talking to people, you know, be willing to just be and vulnerable with people. And everybody doesn’t have to pretend like you know, we’re some big company.
Alright guys, real quick, I want to show you how to talk to a real estate agent, that you’ve already told that you’re a wholesaler how you’re gonna walk people through the property. So check this out. So I just recorded myself chatting with if j is Jay. Right? It is okay. Great jazz, appreciate it and look forward. So I called my real estate agent and I left him a voicemail saying, hey, I need to know when I can walk my buyers through walk my hard money lender as I’m buying. And this is this is the conversation we had. Hey, Jay, how you doing? Good, man. How are you? Good. Good. Did you get my voicemail?
Alright guys, real quick, I want to show you how to talk to a real estate agent, that you’ve already told that you’re a wholesaler how you’re gonna walk people through the property. So check this out. So I just recorded myself chatting with if j is Jay. Right? It is okay. Great jazz, appreciate it and look forward. So I called my real estate agent and I left him a voicemail saying, hey, I need to know when I can walk my buyers through walk my hard money lender as I’m buying. And this is this is the conversation we had. Hey, Jay, how you doing? Good, man. How are you? Good. Good. Did you get my voicemail?
I did. By the way?
I know. Thank you. Yes, yes.
Already wants to go with?
What do you mean for the hard money
inspectors contracts? So can you get look at the property?
So no, I have to get that scheduled. I have that proof of funds letter that I sent you. I have a guy using Utah. But maybe if you have some connections to hard money lenders, that’d be great. I asked you for a contractor. But if you can, I’m gonna look around today. I’m gonna get my funds ready. And then I also just to be safe. I always just run this by a couple investors in the area that I know just to see if I’m not way off on my numbers. But that’s pretty much
a business as far as renovations go. So volume pricing especially. Okay, let me see what his availability is.
I guess what is the best way to to walk it? Is there a lock box? Or do I need to schedule everything for you? Schedule?
Case, Okay, what else? selves.
Alright, bam, that’s it. Nothing, nothing too crazy. If you guys didn’t catch it. All I was doing is I just said to the agent, hey, agent, I need to set up a time to walk through the property. He said, What do you already have a guy and I said, Well, I’m buying it with a hard money lender if I want to flip this so if I want to flip it, I need to send my hard money lender and some contractors but I also send some business partners or some some investors I work with in the area through just to make sure I’m making good decision right because I don’t know the area perfectly. So that’s a way that with an agent you can say hey, I’m crossing all my T’s dotting all my eyes. I send my hard money lender, send a contractor send some investors because if my contractor goes in and it’s I got my numbers wrong, but I have a whole an investor that I can wholesale this to. I’ll wholesale it and I was I already told you at wholesale. I told you I’m sending him through it’s as simple as that right so no need to feel like you’re doing something weird I would do I would wholesale a deal or send it out to people even if I was a flipper anyway, because if I, if I have a deal that I’m about to flip and I send it out to 10 new buyers that I know and all of them are like $50,000 lower than I am, I probably did my numbers wrong as a flipper, I probably did something shouldn’t have been maybe I miss something. So as a flipper as the people we wholesale to, I would do it anyway. That sounds like a great idea right now.
Yeah, I mean, that’s one of the things that’s great about wholesaling and kind of what we teach with you know, start with the end in mind right start with your buyers is there’s no better way to learn your market when you’re starting out then by you know, one talking with your buyers and learning what is it they’re actually buying and what they’re looking for, and what is it they don’t want, right? And then three, actually, you know, looking at deals and looking at numbers and looking at like what’s what’s the price things are selling it like for example, Orlando, Florida, right? I’m not familiar with that market at all. I just started there three days ago, right? But in three days, I’ve gotten to learn, okay, well, one thing specific to my market is a lot of guys don’t do wood frame homes. It needs to either be a block a block home or on a slab, right. For Florida, I would have had no like that’s not a thing of where I am, you know, up north in in Connecticut or New York or you know, my previous market West Michigan, that wasn’t a thing in West Michigan. One thing that was really specific to that market was you could have two homes, two homes that are identical, almost identical one in bedrooms, the bill everything and you’re like, Dude, this is a comp manual. Like yes, this is my home run comp, however, that one home that you think is your comp, they have a finished basement by or even if it’s an unfinished basement, but it’s a full basement versus if your home would have what’s called the Michigan basement, which is just like just like a dirt basement. Like it’s nothing really that can be like a $25,000 difference. $25,000 difference when your ARV is like 130 That’s a big swing, right? That’s a deal or not a deal type of situation. And the only way you get to learn that is especially if that’s not your market is from your other buyers, right? You get to leverage their knowledge, their experience, and that’s why I look even if you’re a tough guy, like if you have the money to like yeah, man, like let me just buy these like five houses cash and ain’t no thang, that’s cool. I would still suggest that you start out doing this, right? Start out wholesale, like 123 deals because you’ll learn kind of where the blind spots are. You’ll be like, Oh, I never thought about that. Or like, wow, I didn’t know that would be an issue, right? Or I didn’t realize this area was bad or whatever the case may be well said
I love it. I love it. So if a lot of you are new, and you don’t have buyer relationships, that’s exactly what you need to go do. Go find some buyers, talk to him, network with them, learn from them. And that’s exactly what we tell people. That’s what we’re doing our challenge. So if you haven’t watched us and how we talk to buyers join because that’s exactly where if you were coming to me and say hey, what would I do first? Talk to buyers. That’s what you do.
