Live call with realtor that hates wholesalers

I just wanted some like the opinion of an expert in the market. I market like off market. I like sent out mailers and texts to people in the area. I’m from Utah, but I do market and try to get deals in Maryland. But this area is interesting, where you have a listing and I have one that’s like a couple streets over. And I’m just seeing like a really big price range on these townhomes. So I’m kind of nervous to, you know, pay about 120 for a house that’s off market when I see some houses are selling for like 160.
Well, you’re from Utah. Yeah, I am. Yeah. So you don’t know the area that well,
exact. That’s why I’m calling you because you’re a wholesaler. Exactly. Yeah, I actually do both. I buy and fix and I wholesale. Yeah, sure. If you want to save time and learn how to invest in real estate faster, go to investor thrive.com To master the sales process from our training so you can close more deals with less leads, even if you’re only doing this part time. Or if you don’t know where to start and need help. Give me a call at 385989 816 and let’s chat. Hello,
hello, this is Greg Keller said I was on the other line you were calling me.
Yeah, Greg, I’m sorry about that. Do you have a couple minutes to talk? I was just calling about your Green Hill Avenue property on in Baltimore.
Yeah, I can talk to you about it. Cory is the main person on that. But I’m happy to talk to you about it.
Okay. Well, you know, the reason I’m calling is I just wanted some like the opinion of an expert in the market. I, I mark it like off market. I like sent out mailers and text to people in the area. And I’m from Utah, but I do market and try to get deals in Maryland. But this area’s interesting, where you have a listing and I have one that’s like a couple streets over and I’m just seeing like a really big price range on these townhomes. So I’m kind of nervous to you know, pay like one about 120 for a house that’s off market when I see some houses are selling for like 160. Well, you’re
from Utah. Yeah, I am. Yeah. So you don’t know the area
that well. Exact. That’s why I’m calling you because you’re a wholesaler. Yeah, yeah, exactly. Yeah, I actually do both. I buy and fix and I wholesale. Yeah, sure.
Okay. Well, there’s there’s a vast difference of condition, like there is right, of course, real estate. But if you were in each and every day, you would see that.
Yeah, and I’m sorry. I mean, I don’t mean to like waste your time offend you? It sounds like maybe you’ve talked to wholesalers before they wasted your time?
Yeah, and I really don’t I really don’t have a high opinion. Yeah,
I get that. You know, I totally understand like, I mean, there are some shady ones. And I’m sure you guys don’t think highly of us. Because, you know, sellers make more money if they listed right. 14% more national average. Exactly. Yeah. And I totally get that. And I tell actually, when I talk to sellers, I tell them like, Hey, you should list this, I only the only benefit that I provide to you is like convenience, ease and speed. But if you don’t want you know, to sell it in seven days, you need to list this. So that’s how I kind of approach it and making relationships with agents like you, I think we can, you know, work together instead of just be like, you know, wasting each other’s time. You know,
I sell a lot of houses, I really don’t need to make any alliances with wholesalers.
Okay, no, I totally get that. But I guess Can I ask you one thing? Is it true that in this specific area, we have the townhomes? Are the prices? Like do they fluctuate a lot? Or is it pretty standard for like a three, one to be around? 250? When it’s sold when it’s fixed up?
Better be looking awesome for that? Well, that’s the nicest, nicest
one around. Well, I appreciate that advice. And again, I’m sorry for you know, wasting your time. I didn’t mean to, you know, have a good day. You too. All right. Man, and Baltimore out there. They don’t that guy was not a fan. And hey, how do you think I handled that? AJ? Do you think I was alright?
I think you were very professional. Actually. Look,
there’s agents that don’t like wholesalers. That’s okay. I never enforced anyone to do a deal with me ever. Period. I always tell them what they what their options are. I go to sleep every night feeling great because I say hey, look, you know, if you sell this to me, I gotta make money, right? You’re gonna be selling this mean less than if you listed it and they say I get that. I get that. Let’s, I don’t care. I just want this done. I don’t care. Do you guys see how I handled that call? I’m nervous. I’m worried like, Dude, you don’t like me? That’s fine. You don’t know what I do. And you don’t want to make an alliance with one of the top wholesalers in the world. You just lost out buddy. Right, AJ? Right, right. Yeah, bump that guy. I’m just kidding. He’s cool. I get it. There’s probably some wholesalers that have just called them and waste his time. Don’t worry, guys. That’s why it’s and I’m actually glad that we had a call like that. What did he tell me in his grimacing tone, and just like his didn’t line he said, if you wanted to sell for 250 This thing better be the best thing in the neighborhood. Right? So 250 is not according to one guy and I can call more so 250 is not going to work. It’s probably going to be like 166 And that reason I’m saying 166 is I’m looking at one of his that he has. He says you’re you’re a wholesaler from Utah. So yeah, man. I am What are you gonna do about it? Alright, so this is one of his, it’s a three one a half. This is an actual comp, okay? This is what’s currently for sale and he’s upset because no one wants to buy his 165 Okay, so it looks like AJ, I think we might have to put this on 160 Now we’re talking on the phone if you want 120 Ain’t gonna happen. I’m losing money. So where’s it gonna make sense for me to buy this now that we know that the ARV is 160? I think originally my boya Tony was saying 75k That it’s getting kind of tight at once at 75. Tony, I’d say if you can offer them for 47 550 That’s for sure. Do you know you should you should go lower than 75. And if you’re if you’re feeling crazy, if you feel like you know you want to give if you want to make an alliance with this jabroni then you can call him and he might be able to list it for you. You might be able to list it with what’s this guy? This guy’s name, Greg. Freaking Greg. Thank you. Tracy Tracy said I did a very good impression of Greg. Everybody. Let’s call Greg right now and just be like, hey, yeah, I’m a wholesaler. Let’s let’s light them up. Hey, Greg, I heard you. You love working with wholesalers. All right, AJ. So Tony, we ran your numbers on your deal. I would call you back. This is our conversation we call back Alright. Hello, ma’am. I’m calling you back just got done talking to my underwriter you have some time to talk. You know, I’m, I feel terrible. I was looking at the wrong comp the whole time, when I saw I thought these houses were 250. I just got off the phone with an agent that has a listing that is not selling his name is Greg, if you ever want to talk to him, you should call him I can give you his number. But he has a house right now listed for 160. That’s really nice, updated, and it’s not selling right now, that makes me worried that if I buy yours for 120, I’m going to be underwater, I can send you this link to so you can look at it. So unfortunately, after talking to an underwriter and getting this knowledge, I’m going to have to be at $47,550. But I can close in seven days. Would that work for you?
I’d have to say no to that now. Well, originally you’re
at 300,000, then you were considering 120. But now with the information that I’ve given you what is realistic for you knowing that new houses in this area are only selling for 160? They’re not even selling? They’re listed? And they’re just sitting there? What are you looking for now that you know that
I’d probably really
go for at least 100? Yeah, so let me tell you this, if you list this house with a real estate agent, they pay you to pay 3% to the listing agent 3% Commission to the buyer, you know that right? You got to pay to list the house. So, so looking at the math, if you can sell this thing for 160 because it needs to be updated. So let’s say as is you can sell this thing. What would you say as is maybe 120? Would you say? That’s fair, ma’am? Yeah, that’s
a one to one. It’s okay. Okay, so
if you take away the Commission’s the fees, the closing costs, your that’s about 8%, you get 110. So yes, you would, you would make way more money if you listen to it. But you told me you weren’t interested in
that. Right? I might actually consider it now.
I think you should consider it because, you know, looking at my numbers if this house is worth 160. And then from what you’re telling me if it only needs a basic light rehab, let me just fudge with the numbers really quick. So this is what were you saying? 100,000? Yeah, I’ll probably go for their 100. Okay, so that’s what you’re wanting. So if I had to do about a basic rehab, and let’s see, I may have to change this the wholesaling fee. Yeah, it’s still not gonna make sense for me. I’m, you know, I feel I feel terrible. But I know I said when I said 47, but the highest, the very highest I could do. And by the way, guys, this, this is a roleplay, it would usually incremental raises, I wouldn’t jump up this high. But I’d say look, I’m looking at the numbers. This is the best I could do. I could do probably could do 82. If it only needs a basic rehab, but I guess I’ll find out during my due diligence period. Yeah. 80 to 82,000. That’s why we have 30 days, I can do it sooner than 30 days, I probably can do it. Maybe in maybe two weeks.
I’m probably if you could give me time to think about
it. So you’re not so yeah, you’re just not 100% sure what I know when people say that it’s usually a no, it’s a no, let’s just be honest, you’re not you’re not going to do it. So let’s talk about what other options you’re considering because you’re saying no to the 82. So if you can’t get 100,000 for example, maybe you talk to 10 other people like me, what are you going to do? Not quite sure yet? Well, I mean, we already talked about flipping is not an option, right? Yeah, it’s an option. So listing it you said hey, listing, it might be an option now. Okay, so let’s is that kind of teetering right now between getting more money and listing and waiting or cash?
Yeah, your actual listing, it would probably be the best.
Okay. Well, I got a great guy named Greg. I can send you his info. We partner all the time. We formed a strong and alliance and we’re going to work together so I will send you his info after I talked to him. And we’ll see he says he sells a lot of homes, but we’ll see if he denies one that I can give them. Okay. All right. So anyway, That’s That’s how and she is not that motivated to move quickly, right? If if she’s like, I can wait, I can’t force her to take the price that needs to be done. Guys, this while I’m trying to tell you, you have to take people through the sales process. So you can determine if there’s enough motivation to help someone that’s in a sticky situation that there’s no motivation. They’re just going to listen, and they should, everyone should listen, if they have time. There’s no reason to sell for cash unless you need the money fast. That’s why it’s there for you need fast, quick convenience, ease speed, that’s why you do it. That’s why we exist, we help everybody that I’ve ever done a wholesale deal with I provided value by being quick. And that’s what I’m trying to show you guys is follow the sales process. If you want to negotiate a good deal, there has to be some underlying motivation that’s causing them use agents to help you determine the value. I use them all the time. And I get on calls with people like that. And you can see you know, it goes good or bad, but who cares? Don’t you ever think that you’re not doing something right? Maybe some of you are doing something like shady like, maybe you are I’m not I tell people all their options and I say this is what you can do. You decide, okay, there’s nothing shady about giving people all the truth, everything they need to know and then being a consultant. Okay, so when that guy came at me, didn’t even shake me shouldn’t shake you because as a wholesaler you’re doing a service. We help so many people find properties of flip. We help people so many people get properties that need to be sold quickly. We help. That’s how you got to look at it.