#278 Wholesale Hotline | LIVE Real Estate Investing Q&A
This is a YouTube video titled "#278 Wholesale Hotline | LIVE Real Estate Investing Q&A" recorded in July 2025. It features a live discussion among real estate investors and experts including Jamil Keighley, Brent Daniels, Jerry Norton, and Pace Morby. The conversation covers various topics related to real estate wholesaling, such as deal structuring, seller motivations, financing strategies, market conditions, and exclusive discounts for buyers. The format is an interactive Q&A session with audience participation and practical advice for investors.
Foreign. Welcome to Wholesale Hotline. I'm Brent Daniels.
I'm Jamil Damge.
And I'm Jerry Norton. And I'm Pace Morby.
Every week we bring you the best information on real estate investing.
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Welcome to wholesale hotline, number 278. My name is Brent Daniels. Joined by the incredible, the genie of real estate, Jamil Damgee. Grant us wishes today.
What's up, bro?
How are you, brother?
Couldn't be better, man.
10 to 14 million opportunities, Jamil. 10, 20 to 14 million opportunities. Let's get Jerry Norton in here.
Given time, at all times, at all.
Times, there are 10 to 14 million opportunities for properties that because of their condition, because of their ownership, because of the financial position, because of the emotional position of the property owners, they are willing to trade price for speed and convenience. And I want to throw this up here, guys, because I think it's really important. Whenever we're speaking with a property owner, whenever we're speaking to somebody that's representing a property owner, which Jerry and Jamil have done an incredible series on how to get deals from real estate agents for free. Doesn't cost you anything. You can start with just a cell phone that you borrow from somebody. It doesn't matter. All right, so. But when you speak with those property owners or the people that represent those property owners, you need to discover which of these two out of the three that property owner wants because they only get to pick two if they want speed and convenience. Right there, you could look at that graphic. It is a wholesale deal. That means it is a cash as is offer. They want speed and price. We're talking creative finance, we're talking listing it on the mls. And if we're talking about convenience and price, we're talking novation. But it's really important that we go out and build the skills to be able to discover what is appropriate for the person that we're speaking with. What do you guys think?
Jerry, how are you?
Good. Fantastic.
I think this is, I think you've done an incredible job, Brent, of simplifying and making this really easy for somebody to digest. That's what he's saying here, guys, is that the reality is you get two out of three things and your job in what we do is to provide this to the seller and to explain to the seller, hey, look, I want to help you. My job is to serve you. My job is to make sure that we solve your problem to the best of our ability and get you the best that we can. Now, if you value convenience and if you can value, and if you value speed, I'm probably your guy. But if that's not the case, if you don't mind waiting a long time, you don't mind making a risk, taking a risk, and investing money in your property and maybe improving it some so that you can get a higher value for it. I can't promise that you'll get that money back because again, we really never know where the design trends are, but we can try our best to guess.
Or.
Or you just let me give you a hundred percent of as is value, which is what I will do. A hundred percent of asses value. And as is value means you don't spend a dime, you don't lift a penny, you don't. You don't spend a penny, you don't lift a finger, you do nothing.
Who determines value, Jerry?
Well, the buyer determines value, right?
In. In everything or just real estate?
Everything. Buyer dictates the value of anything. Because if there's a buyer willing to pay it, what better way to know what the value is? You know, one thing I like to. I'd like to add to this, Brent, your, Your graph here is when you think about it, there's really a direct correlation between price and motivation. And this is something I like to talk about a lot. When motivation is high, price is low. And when motivation is low, price is high because there's no urgency there. They can wait to get a higher price and do other things. So what we. What I think is the right way to go is if you can target like, high equity, high motivation, then that's going to be attracting that low cash offer. And when you start there, it's sort of like you're creating a baseline with like, okay, there's high equity.
Oh, Jerry's. Jerry's in Montana. You know what I mean?
Yeah.
They're working off a satellite, so a cloud might have covered it.
You know what I mean? They use dial up in Montana. I was just there.
Oh, my gosh.
Sorry, guys. You're good, brother.
Anyway, I was just trying to make a correlation that when motivation's high, price is low. When motivation is low, price is high. And there's a scale there. And our job is to uncover that in our discovery. Is, is there truly motivation here? And if there is, then I started that low cash offer. If there's not, then I need to look for other solutions. What is the right solution for each seller? And maybe it's innovation. Maybe it's creative finance, maybe it's they're looking retail and they just need a listing.
I, honestly, Brent, think that this should be required knowledge for real estate agents to have to, to understand. I, I truly am. I, I just locked up another deal in Phoenix, by the way, the day before yesterday. $250,000 below list price, a quarter million below list price. And I mean, look, we, we, we say things like, you've got to educate the real estate agent so that they can better educate the seller. And that's exactly what I did. And I'll be, I'll tell you, Brent, if I had had this chart, I could have sent this chart to the agent and I could have had a very, very, very, very, very clear conversation with them to say, look, this is, you have to understand, you need to wrap your head around these three, these different things in order for you to be successful in today's market. The reason why you haven't sold and this agent and I are friends and she hasn't sold a house in a long time. This will be her first deal in like eight months. But the reason she hasn't sold a house in eight months is because she hasn't been going here. She hasn't been leveraging creative finance on her, on her, on her houses with no equity. She hasn't been average. She hasn't been leveraging novations for her sellers that maybe can wait but want more. And she just started utilizing wholesale again after renting, really turning her back on it for a couple of years. She had some pansy. I'm sorry, I don't mean that in a bad way because we have a great person in our community named Pansy Sleep. And so I'm saying this in a kind way. Some person told this real estate agent, I don't know how long ago that selling to a wholesaler was unethical, that she was doing her client a disservice by, by bringing me into the equation. So this poor agent for so long believed that working with wholesalers was in unethical until we saved her entire situation by bringing her a, a deal that's actually going to close where she's now going to get a great commission. Love you back, Pansy.
Yeah, I just, you know, for me, when I was transitioning from being a real estate agent to investing and understanding what wholesale was and finding out that you could go to this incredible part of the real estate market that was off the mls, which is most of the houses by the way, I, I really needed something to understand what is the best way to serve this seller from A, from a position of I don't want to make low cash offers to somebody that had no, that they had no desire for speed and convenience. They just wanted convenience and price or they just wanted price and speed. And so I needed something to be able to put these into different buckets, you know what I mean? And then I go, well, who are the most likely people to sell for speed and convenience? Oh, it's the people that need significant investment into these properties to one, make them livable, or two, make them up to today's standards. So it's like, okay, well if I just focus on the ugliest properties possible or the ugliest situations possible, then I'm more likely to be able to find people that want to sell now and they want a cash as is offer. And so that's where I'm going to focus my efforts, right? And, and then I was like, okay, well I'll just go door knock all the people that have ugly houses. And then it was like, oh, this skip tracing thing came out. Now I can get the phone numbers for all these properties. Now I could just call up anybody that has an ugly house. And then I started seeing all of these crazy looking cars driving around the neighborhoods with cameras on the top of them and Google on the side. And I was like, holy cow, Google's doing all the driving for dollars. For me. All they have to do is like do aerial maps and look rough, you know, empty pools and the, and a lot of stuff in the yard and all that. And then I can get a front shot of it. Now I've got the address. Now all I need to do is sit on my laptop at my house, look at properties that are in rough shape, get their address and then get the phone number and call them up. Boom. And that was it. That was the whole business model. And that's how I did my first million dollars in real estate. In real estate. Wholesaling was just like that. Day in, day out, day out, ugly houses, big checks. That's exactly what I was building. And that's what happened. That's what happened.
And look where you are today, bro.
Well, and then, and then look at, maybe you talk to somebody in their house isn't all that destroyed. Or maybe it looks destroyed on the outside, but the inside's okay. Or maybe they're in a different situation and they are open to owner financing, they are open to taking over their loan, they are open to whatever, selling some other property that you didn't even know about. And so having all three in the you know, kind of tools in the toolbox really helped me to do more deals.
I think that's, I think that's beyond real. And, and, and really, we, we, we owe ourselves to memorize this. Truly, you got to memorize what this chart is so that you can be the most valuable person that a seller can talk to. Yeah, I think too, Lord knows that a lot of these listing agents are, are not doing it. They're just not cutting it. They are lying. They are flat. We'll let Jerry continue here in a moment, but I've been having a great time, a great time talking with people right now and just uncovering how much deception goes into a listing agreement. How many, how many sellers are completely, completely made a false promise just so that, that that document gets signed.
Yeah, I'd love to add to that too, that, you know, when you think about all these different things, providing these solutions to sellers, you know, you got the low cash. Novation. Creative. Creative is. There's like subsets of creative. Most of it's going to be seller financing or sub two, maybe a hybrid of. Of the two of those. But that's a lot. There's a lot to learn there. So I think people tend to get easily overwhelmed. Like, okay, how do I learn all of those things so that I can give the right solution to sellers? And I would say, you know, you start with. Start with one. The first one to always start with is low cash. It's got the least moving parts. It's the easiest to get your head around. You really need to understand value and condition, and that's it. And you can run a formula. You can get to a nice offer price that's at a scale.
I want you to rename that fast cash instead of low cash.
Yeah, Fast cash, right? Yeah. Because it's, it's like you talk about all the time, Jamil. It's where the numbers should be anyway. But my point is just, you know, start with that, learn that, do that well, transact at that with that model and then introduce novation. Start learning. Okay, well, how do I do innovation? Maybe I jv with someone really good at that at first, but I know how to identify that solution for a seller, and I'm gonna start learning that. Maybe then it's creative finance, or maybe it's vice versa, but then I'm going to learn creative finance. Guys, everything is developmental. You, you learn things and then you stack on top of that. You get some success, you get some transactions under your belt. That experience is going to allow you to have A stepping stone into new things. You know, eventually, hopefully, you're. You're able to take deals down and get funding and do lots of things in the business. But it's. It all starts with one thing. Learn that well, add another thing to your repertoire and keep building your business.
Jerry, are you going to add direct mail to Prop Wire?
We work with a direct mail company that we offer through Prop Wire. So if you're interested, you know, reach out to us, and we can certainly help you do that. But, I mean, honestly, you're going to download your list and you're going to have all that data, and then you're going to provide that to your direct mail provider.
So.
But yeah, we've got some great questions in here. We're just warming up.
So I've got a couple for both of you right now. If you. If you.
Are you real quick before we get out? Reginald, great question. You look just like UFC legend Anderson Silva. Look at that picture. He looks exactly like him.
He does. Wow, that's good. Call out. What are you seeing right now, or what are you hearing right now from your buyers as their biggest excuse to wait? Because it's a big thing right now. Buyers. I've been talking to a ton of them, moving, you know, moving some deals, trying to get an understanding of where people are. I've been talking with a lot of the astro folks who I'm. Who I do JVs with all the time, you know, to get their understanding of where things are sitting. And, man, buyers are definitely feeling it right now. Our wholesale buyers are feeling it in a couple of ways. This is what I'm seeing as a result, they're sitting with flips right now on the market that are just kind of waiting, right? They're waiting for these flips to sell. They're having to reduce price. Their offers are coming in super low. Lots of concessions, Lots of concessions. Lots of contingent offers as well, like just not. Not enough strength in the market for. For those sales to complete. Lots of canceled contracts. And so they're on the fence about acquiring their next purchase, unless that next deal is a deal, because now they know that they're going to probably have this thing sitting on the market longer. And then something even more interesting came up. They were talking about the China tariffs and just how much money that has started to add onto their renovation expenses, because pricing is all over the place. From flooring to appliances to drywall to lumber, all of these things have all shot up incredibly, incredibly high because of these tariffs are just. They're It's a lot of money, right, that's being stacked on top of what the costs are. And so funny enough, I have recently became an official partner with Home Depot and, and had a conversation with them. I, I asked them what it, what would it take for me to be able to negotiate a discount for wholesale hotline listeners that was greater than the pro discount and the military discount combined. And we have one, it's done, it's been completed. So we have now, we can now offer wholesale hotline viewers and listeners. And here's what I would do guys, here's what I would do to leverage this discount. I would call all of your buyers over the next week and I would offer it to them. I would say, hey man, I respect you. I, I just was able to get this incredible discount that I want to now offer to you. I think this is a great way for you to save a lot of money on your flips and I just want to give this to you as a, as, as a gift, as a gift to be able to say thank you for doing business with me all this time. I want you to save this money on your guys flips and maybe you will buy this next one off of me. So here's the gift, here's the, here's the gift of this incredible discount with Home Depot and take a look at this new deal I got. I think it's a great way, it's a great way to offer a lot of value to your buyers and I'm really grateful that Home Depot saw the value in working with wholesale hotline listeners and, and, and get. This is a discount you cannot get. You can't walk into Home Depot and negotiate this discount. This is the same discount that like national huge accounts get and wholesale.
Jamil, is it a, is it a link or what is, how do you do it?
Yeah, so in the chat right now there, Ann is going to drop a link in the chat. That's just a form. They just got to, they, they need to create a profile in Home Depot system. So, so you can take that link. I would copy that link and I would give that link to your buyers as well. So do it for yourselves. You know, go fill out that, that profile information now for yourself or not now, but at the end of the, at the end of hotline and then tomorrow and for the rest of the week talk to all of your buyers and share that link with your buyers and let them know that this discount is available to them and they're going to save a tremendous amount of money. And if they went. And if they went and compared their pro discount, which I'm sure a lot of them have, and their, their military discount, there would be. It's, it's, it's even more than that combined.
What's it, what do you think it comes to, Jamal? 20%? That high?
They, it, they, it. They can't say what percentage it is because different markets have different pricing. Okay. And so there's, there's bigger savings on some pieces, but because there's, there's. They have more margin on some items than they do on others. And so it's a dynamic discount. And so what. What I can say is it's greater than they'd be able to get anywhere else. Yeah.
Quick thing, too.
Yeah.
One thing to do too, with that, Jamil, is like, what I do with my contractors is I have them quote me, like, time and material, so they, they give me a bid, including labor and material. But I want to, I want to purchase the materials, not them.
Correct.
There's a lot of benefit to that. You, you control a lot of things. You're making sure that materials are getting bought properly. You're making, you're not giving a contractor a check, and then they don't go buy the materials. You know, you avoid a lot of things. And I build a ton of credit card points. I mean, I get millions of points a year on my credit cards. Not just with that, but like all the purchases I do. And so you're getting points there. That's helping you. And so this could be huge because if you agree on a price and then you back out materials, but you buy the materials, you're getting the savings. Like, I'm talking the flippers right now. Like, if you're a flipper or again, like, you could pass it off to Jamil and then they get that savings. But this, this can be huge. If you're a flipper to get this, I mean, you could be talking about thousands of dollars.
Thousands and thousands of dollars. Okay. Thousands of dollars. Everyone's asking for the link. Can you see it?
No.
Can you see it any. I don't see it either. And we don't. We don't see it. Can you do it again? Post it again? And can we keep an eye out for Anne Reynolds, who's posting the link? And we're not seeing it here. I'm not even seeing you show up in the comments. Guys.
This is huge.
Yeah, this is awesome.
I mean, that, that, that's the, that's the call that you make to your cash Buyers that all of a sudden they've been ignoring your deals. You give them this discount all of a sudden, your best friends, and they buy. You know, they're gonna fork over, you know, a million dollars in that relationship over the years. You know what I mean? This is huge. This is. This is just goodwill throughout the whole industry and bringing an extra bonus level of professionalism to your. To your business and to. To that relationship for sure. So absolutely, definitely take advantage of it.
And they. They were. You know how long they vetted us for. They watched episode after episode after episode. And. And you don't want to know what. What cinched it for them. Jerry's hair?
Yeah.
Yeah.
That was it, huh?
That was it.
They were like that handsome devil that has. Look at the hair on that guy.
Whoa. I do need a haircut.
The link is coming, guys, My apologies. She was trying to post it as me and. And. And it wasn't working. So give her a minute. She's just logging in right now. It'll be coming in as Ann Reynolds. And no, Anne, we don't see you. I don't understand what's happening. It's not. Are you guys seeing Ann Reynolds anywhere on there? I'm not seeing it come up at all.
Guys, make sure that you are putting in the chat and just thanking Jamil for putting this all together. This is absolutely huge. This is all on his shoulders. He. He put this all together with his team. And so put some love in there for Jamil and let us know if you think that that would be a valuable discount to be able to. To bring to your cash buyers. I'm really interested if you guys think, oh, that's no big deal, or do you think that this is huge? Put it in the chat.
I believe it just came. Did it come in as me? You guys see me? Why. Why am I. Why can't I chat? Why can't I leave any comments?
Are you logged in?
I should be.
Jamil, get it to Brent.
Brent, I'm sending it to you right now.
Okay.
Sorry, guys. I don't have a clue what's happening here, why this isn't working. Awesome. But here's the other thing I forgot to mention. Not only do they get the discounts from everything Home Depot, but they're also getting every. A discount on Bear. Bear Paint. So the account. The account exec from Bear is giving them, and. And. And we're talking a massive discount there as well. So, guys, when you go in. Into. When you go into Home Depot, you also want to make sure that you recommend to your buyers that they're using bare paint because they're going to get the white glove treatment and they're going to save a ton of money. A ton of money.
Guys. I'll get that in there here shortly. No worries.
Okay.
Yeah, I, I agree, Gordon. Only an Indian could negotiate that kind of deal.
Hilarious. You're hilarious, bro. All right. Did that come through to you, Brent?
Yeah, I got it. I'm putting it in now. Yep.
All right. Oh, excellent, excellent.
So.
But you're right.
Listen, Jamil, you're. I mean, to open that up. You're absolutely right. The. The buyers are taking hits left and right. You know what I mean? The flippers are taking hits left and right. They're. They're paying for everything. They're the, the buyer's agents are out and they're. They're gonna really prove to their client that they're the best agent, gonna get them the best deal and all of that. And yeah, it just, it, it. They're definitely. You have to be real aggressive with your pricing right now when, when we're putting out a deal, Jamil, we would, we would get like 15, 20, 30 responses. Now we get like 3, 5, 8. You know what I mean?
Yep.
Did that get in there? Yeah, that's in there. Boom. There you go.
Maybe pin it if you can, so that they can. They can see it at the top. But yeah. Incredible. I just wanted to give a big shout out to Josiah and Katie. Josiah, our executive at Home Depot, bro. The Home Depot flew their exec team all the way to Phoenix to come in and sit down with me in a boardroom to have a conversation about this. Then they spent I don't know how many months vetting us, making sure that we were the right guys. That. Because they don't just put their name on anybody. And not only did they love us, they loved our audience. They loved what we're doing. They said these guys are incredible and they would be honored to work with us. So a big shout out to Josiah at Home Depot. Big shout out to Katie from Bear. Thank you guys so much. So, so, so much for, for loving on us and giving us the opportunity to become even better at Home Depot and BEAR clients and giving us an opportunity to really serve our buyers. It means a lot.
So. So, Jamil, if you've been using a pro account, stop using that. Or do they upgrade this?
They'll upgrade it. So when you go in and use your profile, do your profile, they'll upgrade you. But what would be. What you should do is compare them and you'll see just how much of a gift you just got. Yeah, yeah.
Because I've had a, I've had a pro account for years, so I'm excited.
This is going to be incredible for you on the kinds of things that you're doing right now too. This is going to save you huge money. Huge.
Okay. Yeah, I'm excited about it.
Very cool. Amazing.
Here's a question from Goto Soto. Hey guys, I have a deal. I'm working on getting a hard money lender to cover the transactional funding. I was considering a double close by. The spread is so wide the end buyer may not close on it. 41k deal is 270k. ARV. Question is, should I take the hit on the points, interest or risk? The end buyer, Buyer walking away on the double close on 115k spread, bro.
I would 1000% use transactional funding and close that or double close it. One of the two, whatever works out cheaper for you I would do, but I would, I would absolutely double that. I think that your buyer, especially in today's climate, is going to have a hard time with you making 115 grand. That's just my opinion. What do you guys think?
Was it 115 or 40?
No, he's making 115k spread.
Oh yeah, 40.41ks got locked up and it's a 270k deal. I read that the same as you did, Jerry, but looks like it's a big six figure deal.
I mean guys, it's going to cost you nothing in transactional funding fees and some closing fees.
Thousand bucks, bro.
Yeah, like who cares? Pay the fee, get the peace of mind. For sure. Double close it.
Yeah, I would assign it.
Yep. Of course you would.
I would go, I would go the opposite. I think that long term.
Why, why, why would you do that?
But help us understand, because I want the most profitability. I, I listen, if that buyer doesn't take it. If you only have one buyer for that deal, sure, double close it. But if it's that good of a deal, that smoking of a deal and you've got multiple people competing for that deal, you should make the most that you can. Every dollar counts in this business. We had this conversation before. This business runs on massive deals. If you are not getting a 50k plus deal at least twice a year, hopefully once a quarter, it's going to be really, really, really tough to scale your business.
Really, if that's the case, buy the thing and resell it on the mls, you'll get even more.
And that's what we just did, Jerry. Yeah, we just did that in Scottsdale because it was fourth of July week, no buyers were around. We're like, you know, we got to close this thing right away. And I like closing on it as soon as possible just so that nothing gets wiggly towards the end, right? Not so that there's a million things that could happen. Right? And so, yeah, it's possible just so that nothing gets wiggly towards the end, right? Not so that there's a million things that could happen. Right? And so, yeah, if, if it's a really big deal and you feel like, and, and you don't want to blast it, you don't want to jeopardize it, close out on yourself. And then if you're going to do that, just put it on the market, right? You don't even have to put it on the market and offer a buyer commission.
I, I, I, I understand, Brent. I, I absolutely do. I think you got a real point. Every dollar does count. You got to do big deals. You also don't want to train your buyers. You want to train your buyers to understand that it's okay for you to make a profit and that it's not their business, you know, And I, I, I, I do, I do agree with the sentiment that, what of what Brent is saying. I think in just today's climate, and you know, when the market is, when the market's faster, when things are moving quicker, when they're, when it's less sensitive, where profits aren't getting squeezed everywhere, I would, I, I, I would. If you wholeheartedly do what Brent's saying, but like in today's world, I don't know, just, I, my gut would say that someone's gonna feel like it's a gut punch.
I would say, I would say if you do what Brent said and you, before you sign, you need to have this conversation with your buyer. You need to say, buyer, listen, I'm about to make, I'm about to make over six figures on this deal. Is this a problem for you? Because if it is, I got other buyers on the sidelines. I need to know right now if this is a problem before we sign, because I don't want this getting squirrely at closing. Just get it out of the way. Just address it.
Oh, every time. Yeah, you have to have that conversation. And if they have a problem with it, then you understand, right? You understand that this is no buyer that you bring these big time spreads to. Or maybe there's a conversation that you need to have with that specific buyer to understand where they're coming from.
You know, tell them, hey, don't count the money in my pocket. Count the money in your pocket.
Well, the conversation we always have is, listen, I'm. I'm part of your team, like our business finds these deals for you. I'm going to find so many deals over the years. Unless you want to go out and you want to do all the marketing and you want to build the brand and you want to build the sales team and you want to do the lead follow up, and you want to go on the appointments and you want to make sure that you handhold the seller all the way to the finish line. If you want to do all of those things, I totally understand, and I celebrate you for going out and finding your own deals. But if you want me to be in business to find you excellent deals like this for a long time and build a great business, don't worry about what I make. Don't worry about what we make.
You were absolutely right. You were absolutely right. And I think. And if we're, and if we're being real here, like, true, that's the, that is the brave, honorable conversation to have.
And that's abundant. That's an abundance mindset.
And it's abundant. It's an abundant mindset. It's not coming from a place of fear. It's not coming from a place of lack. It's not coming from fear of scarcity, of my buyer. You know, it's coming from a good, thriving place, a place where you deserve to live. And so you're right, Brent. You are right.
And what Jeremy, Jeremy Thornberg, my disposition manager always says is they're competing with a buyer day one, and it's us. We could close on it. We could flip this property. We could keep this property. We could keep it, put it right back on the market and open it up to all sorts of people, right? So if you want this property, you have to beat out what we would bid for this property. So we're the first buyer, you're the second buyer. We're competing against each other here on some level. If you don't want it at this price that we completely understand, we're comfortable closing on this ourselves and taking it to the market.
And that's why, Brent, you know, maybe not in the beginning, but you never want to be a one trick pony in this business where the only play in your playbook is an assignment. If, if the only play in your playbook is an assignment, you're leaving a lot of money on the table for the second buyer.
We're competing against each other here on some level. If you don't want it at this price, we completely understand, we're comfortable closing on this ourselves and taking it to the market.
And that's why, Brent, you know, maybe not in the beginning, but you never want to be a one trick pony in this business where the only play in your play. And it's okay to start there. I get it. Start there. But you want to be able to have multiple exits and, and have funding to, to buy it when you need to buy it. There's going to come times where you're just gonna, you're gonna book as an assignment. If, if, if the only play in your playbook is an assignment, you're leaving a lot of money on the table. No. I had a deal recently where I had the deals with the Detroit house. I had it at 45. I was trying to dispo it at 65. I knew 65 was the right number. I knew it was, and I just couldn't find my. And it's okay to start there.
I get it.
Start there. But you want to be able to have multiple exits and, and have funding to, to buy it when you need to buy it. There's going to come times where you're just gonna, you're gonna know. I had a deal recently where I had the deals with the Detroit house. I had it at 45. I was trying to buy her. It was, I don't know, a timing thing. And I was getting, I was getting some, some cash offers at like 50. So I said, screw it, I'm gonna buy it. So I bought it for 45, popped it right on the MLS. I didn't even take new pictures. I kept the same lockbox. Nothing. I just listed it on the MLS. Flat fee, $1500 from a buddy I know. And sure enough, 65. Cash offer, 5k, non refundable close in 2 weeks. Dispo it at 65. I knew 65 was the right number. I knew it was. And I just couldn't find my. And. But that was a. I knew, I knew I knew the number and. But I had to buy it in that situation.
Yep. How much extra does it cost for a double close versus a single close?
From my experience on a double. Yeah, he's right. It is double. That was hilarious, bro.
A buyer. It was, I don't know, a timing thing. And I was getting, I was getting some, some cash offers at like 50 so I said, screw it. I'm gonna buy it. So I bought it for 45, popped it right on the MLS. I didn't even take new pictures. I kept the same lockbox. Nothing. I just listed it on the MLS. Flat fee, $1500 from a buddy I know. And sure enough. 65 cash offer, 5k non refundable close in two weeks.
The. The. The. The expense. You can't. Jeremiah, you're not going to be able to get a number that you're going to be able to say, every double close is going to cost me an extra $2,000. That's not how it works. Because what you're doing is you're. You're. You're paying for an entire new escrow, and that new escrow is going to have what's called a seller's policy. And that seller's policy is dependent on price of what you're. Of what, that title that's being insured or that deed that's being insured. That's.
And. But that was a. I knew. I knew. I knew the number and. But I had to buy it in that situation.
Yep. How much extra does it cost for a double close versus a single close?
From my experience, on a double. Yeah, he's right. It is double. That was hilarious, bro. They. They charge you based on a scale of what the price of the property is. And so double closes are gonna. Are gonna differ A, state to state, and then B, based on the pricing, and then C, if you have investor pricing or not. So all of you who are watching this right now, if you have not yet made a relationship with a good title company, make a relationship with a good title company that the expense is. You can't. Jeremiah, you're not going to be able to get a number that you're going to be able to say, every double close is going to cost me an extra $2,000. That's not how it works. Because what you're doing is you're paying for an entire new escrow, and that new escrow is going to have what's called a seller's policy. And that seller's policy is dependent on price of what you're. Of what that title that's being insured or that deed that's being insured. That's. They. They charge you based on a scale of what the price of the property is. And so double closes are gonna. Are gonna differ A, state to state, and then B, based on the pricing, and then C, if you have investor pricing or not. So all of you who are watching this right now. If you have not yet made a relationship with a good title company, make a relationship with a good title company that, that, that loves their investors. Make sure you're getting an investor rate on all of your deals. Title will slip in an additional 1500 bucks in fees if you don't ask.
For the discount question and question the fees. You got to question every fee on that line item on those closing statements. You know, if you think about it, Jeremiah, you're going to have, because you're doing two closings, you're going to have closing fees as the buyer, so you're going to pay those closing fees. Like Jamil said, those are the lower buyer fees because the buyer doesn't pay as much as the seller. But then on your second closing, you're now the seller, so now you're paying all the seller fees. So you got buyer fees to buy it, seller fees to sell it. And then if you have funding, transactional funding, you got that fee. So you're introducing three additional fees to your bottom line that you don't have on a, on assignment.
Let me ask you this, Jerry. If you were buying a property cash, is there any reason you would pay for title insurance if you're going to flip it right away?
Yeah, of course I pay for title insurance every single time.
Why?
Well, because if a claim comes up post closing, I want that insurance policy to kick in.
Yeah, but I mean, if you're going to flip it in a few days or a few weeks, you know, what's the, what's the odds that something's going to pop up in, in a month?
Well, here's the thing. Something could have happened beforehand. So here's what I don't. I, here's what I, I don't trust a lot of sometimes, Brent, is that your seller was completely honest with you and that they haven't registered some other encumbrances against the house that haven't shown up last minute. For instance, say you got a guy or a lady who's having some financial difficulties, and they go and they take a personal, they get a personal loan from somebody for 10 grand against their house, and they do that two days before your sale closes. Okay, well, that recorded promissory notes not going to show up on that title report because the, the title company pulled that title report two weeks ago. Right. They pull the title reports immediately when you open escrow. And then you've got two weeks or ten days or however long your escrow is for your seller to go do something shady. And have that attached to the, to the title that you don't know exists. And after the fact, if you haven't bought that title insurance, well, guess who's going to cover it? You.
It's, it's the same. It's the same with property insurance. Hey, I'm only going to own it for a couple weeks. Why do I need property insurance? Well, there's a minute chance it burns to the ground and you didn't have insurance. You know, I don't know. I just. For the cost. I think it's just worth having the safety of an insured title.
And we've got Dina Jones in the chat right now. Dina Jones is my like basically my partner over infidelity title. She's phenomenal. Guys, you definitely need to know someone like Dina or Dina herself. And she says if you guys are going to be flipping it or if you're going to be doing something where it's a quick turnaround, do a hold open title policy. That's a way for a title company to make sure that you're not going to overpay for that second policy. They hold the policy open for you because you're going to come in and do another policy right away and the fee for that gets substantially discounted. So that was. Now if you do that, if you.
Do that, make sure you have in writing on your second contract that the buyer agrees to close with your title of choice.
Yes.
Because if they come in with a different title company, then you're now you're closing at a separate title company and it's a disaster because.
And you overpaid for the first one then because it's open.
Do you, do you guys pay for title insurance on a double closing?
You have to.
No, you don't have to.
I mean, I've never been given the option. I've never been not to pay for it twice.
Listen, paying for title insurance is an option. If you don't have a lender, it's the lenders that require it in the documents. Right?
That is. Dina, can you help us here?
I think I'm just asking this question right here. It's title insurance, Rudy. Title insurance saved our ass. I do often deny title insurance on double closings, though. Interesting, right?
Wow.
You were looking at all the costs, right?
Yeah. How are, how are you guys teaching me something? I've done over 7, 000 of these transactions and I know Jamila insurance on every one of my first on my abs.
Jamil, I would say companies love you so much, I would still do it. Because what if closing two falls out? Well, what if you have an issue with closing two?
True.
You know, now. And now you're. I had that happen when. With the chopped off head situation.
Yeah, yeah.
Can you just remind everybody about the chopped off head, Jerry, because it's a great story.
This was Colorado Springs. Where was it?
Yeah. And according to, you know, CNN and FOX News and ABC and NBC and everybody that covered this story wholesale, the.
House guys that had a severed head and hands in the freezer in the basement. No lie. True story. And did you guys ever.
Who found the head, by the way?
I think it was the cash buyer.
Was it the cash buyer?
The cash buyer. Cash buyer did a walkthrough, found that, found it and then didn't freaked out, didn't close.
Of course.
I had to get a new buyer and close like a couple weeks later.
So did you. Did they do a full like crime scene investigation property? They taped it all off. Did the whole thing.
Yep. And. And then apparently. So it was. It was a single mom, a widow, a widowed woman, and a 21 or 22 year old son. And it was the 21 year old son and it was a homeless person in town that he stabbed and killed, chopped off his head and hands and put it in his freezer. True story.
Yeah.
So I want to do a YouTube video, how to get ahead in real estate. What do you think?
You're too much, man.
That's good. Well, I can give you a hand if you want.
Yeah, can you give me a hand? Help me out with this.
All right. Anthony asks, what's your top two lists to pull in smaller markets. The county I'm working on is about 164,000 people, by the way. Will you just educate everybody, Jerry, real quick that doesn't know what is propwire?
Yeah. So propwire is a seller data site and it's similar to batch leads, propstream. What's unique about it is it's 100 free to search and download as much data as you want. So there's no monthly subscription or upsell data. Upsells. And so you go in there, you can select your market, select what type of leads you want to find, select what kind of property criteria you might have, and then search for, you know, distressed real estate. So it's just a great way to gather data. What's really cool is you can list stack, we call it, where you just pick multiple filters and it'll combine that. So you can get higher motivation because there's more. It's touching more Motivation. And so like in the beginning, what I recommend a lot of people to do is my, I call it my gold list, but it's absentee owner, out of state, vacant, a feature we call tired landlord, which just means they've owned it for more than 10 years and high equity. And you stack all of that.
And would you do that in a smaller market?
You're gonna, you're gonna get a really small list.
Yeah, you want to cast a bit, almost a bigger net in a small market. You don't want to do a small filter down list, right?
No, but what you do is each time you add a filter, you're going to see your list shrink and shrink and shrink. So, you know, stop adding filters before it gets too small and there's three, you know, so what you want to do is you want to get a list that's manageable in the beginning. Now if you've got marketing dollars, you can get a big list and you can, you can, like Jamil said, cast a wide net. But typically what we find in the beginning is, hey, I got, I got two hours a day that I can do, you know, work on my business. You want to get a more condensed list so you're more productive with your time.
What do you think some good parameters would be if you are working in a smaller market? What do you think some cool parameters could be to, to, to put on? Right. Because in this, in smaller markets you're going to have fewer of everything, Right. You're going to have fewer rentals, you're going to have, you're going to have fewer notices of default. Everything is going to be, everything's going to be smaller. But what do you think you, you would see more of in a market that could be a, a situational or another type of distress?
Well, it's not a really big distress, but the biggest one that we see is just absentee owner and all, all your things.
Yeah.
It's just, they don't, it's not their primary residence. Yeah. And the idea there as well, maybe it's a rental and they want to sell. It's not a real strong motivation. It's just absentee owner. All that means is they don't live in that home. But it tends to be, you'll get the most, you know, the biggest list from that one. So maybe take that one and stack it with high equity. I, I like to stack everything with high equity.
That's it right there. Do an absentee owner in a high equity list in a small market. I think that's Gold. That's gold right there. That's gold.
I. I really like grabbing the thousand most ugly properties in a market that size and be absolutely obsessed with getting a hold of that property owner. I'm talking DMIN them. I'm talking knocking doors. I'm talking talking to the neighbors, calling them. Whatever you need to do to get a hold of those thousand properties, I think that you will do at least in. In my experience, at least 10 deals a year that way. At least doing that. And if you just add to. If you go into Facebook and go into those. Into the community groups and friend everybody in those groups and then post every single day that you buy houses, cash, you will crush. You will absolutely crush. I know it's a little bit of a twist on the question, but I think the driving for dollars combined with what Jerry's talking about so that you can be super proactive and then spend that extra 120, 150 seconds a day to post to your stories that I buy houses and then friend requests as many people as possible.
You'll.
You'll really dominate that market really quickly. You really will.
Yep.
And by the way, Jerry, is it not free?
Is.
Is propwire not free?
Yeah. Yeah, it's free. Now, we do have a.
Says, Jerry, you need to stop using the word free.
Well, not everything's free. So we have.
Yeah, you have a premium version that costs something. I mean, at least he has one that's a free version. We could say thank you for that.
Yeah, the.
The one.
The premium leads in there are just the county courthouse stuff because we have to manually extract that data. So there's a. There's a cost to that, but it's still. It's very nominal. It's very inexpensive. And that's like probates, bankruptcy, divorce, some of the ones that we have to get out of the counties.
Look at this outrageous AI just said. I just got two deals this year from Prop Wire.
Awesome. Good job.
Bedtime Baby Lullaby asks who's the person to learn mass M M SMS from. Well, mass text blasting. You'd have to take a time machine and. And really take advantage of all of.
Roar.
Platform called Roar and text a million at a time. But no, it's. It's dead. I wouldn't. I wouldn't waste your time on trying to do mass SMS right now. You will get sued a bunch, or at least the threat of a lawsuit.
Now still do sms. Just don't do bulk mass sms.
Exactly right. Exactly right.
There you go. How long should it take to Assign.
A purchase agreement for me. I typically, and we've, you've seen me speak about this before, Brent, and likely Jerry as well. I have a, like a five day system that I do for what I want to do when I dispo. Of course you start off in the beginning to your VIP buyers, your most, your most active buyers, the ones who are, that you've got the personal close relationships with. That's who I'm sending my deals out to first. And I would say that because I don't contract unless I'm pretty confident on price, I'd rather wait and just not do it and wait to wait until the situation or the property either sells and it doesn't need me or it comes to me at my number. So I don't like to just over, over commit or lock up deals too high. So I'm typically assigning 80% of my deals in the first day. Now 20% of my deals that are left. Those can take up to a week. And why, why is that? Well, there could, it's not that those are bad deals, they're just being more, there might be more things attached to it that are going to take buyers a little bit longer to make a decision. Here's some examples of it. One of them could be, it could be a very high end property. And so that buyer who's buying a high end property is going to need to have more vendors and just takes a little bit longer to make the decision because they got to figure out what they're going to do. Second thing that could happen when you've got a deal that might be taking too long to sell is you might just be in an area that doesn't have a ton of buyers doing business there. And so that just might take longer for you to find that. But here's the deal. Conflicted progress. If what you're getting right away from your buyers is that this is priced too high, don't waste time. Don't waste time. Start soliciting from your buyers. And Matt Justice, Brandon Trainer, these guys, they're, these, these guys are phenomenal. I, they'll send me deals every day and I pass on those deals. Do you want to know what they say after I pass? What number would you need it at for it to work? And then I go and evaluate where I would need that property at to close it. I respond with the number and 1 out of 10 times they get it. They get it. And we may and we do a deal and so get right to work. If you are getting information, if you're getting responses back from your buyers that it's overpriced. Go renegotiate or cancel it out and let them off and let them do something else. They're not willing to negotiate with you.
And the follow up to that, Jamil, when you say, well, what number would this work for you at? And they give you that number. Yeah. I say, if I can bring it back to you at that number, are you willing to commit with non refundable? Because then, then it's sort of like, you know, shoot straight with me. Like I'm gonna try to get this for you maybe. But I need to know that if I do, you're gonna step up and contract with me. Like it's, it's kind of like a follow up to that to really see if they're serious.
Yep, absolutely.
And you know what, Jamil? I think there's a way to set up your sellers where that's not an awkward renegotiation. So, like, we all know that, hey, here's my, here's my number that like I'm gonna hit a home run at this number. Seller counters you back. You're like, I think it's a deal. I sh, it should be a deal. But I'm not gonna really know until I dispo this. So when I'm ever in that situation, here's what I say to the seller. I say.
Oh.
Cliffhanger.
Can you guys hear me now? I think one of your cows was chewing on your wires there.
What I'll say to the sellers, I'll say, look, we're going to deep dive this property during our due diligence. If for whatever reason this number, it doesn't work, I'm going to come back and let you know right away. I'm not going to string you along. I'm going to let you know in the next couple of days. But if that's the case, we can re. Explore some options. Maybe we terminate the contract and you move on. Maybe we relook at the price. But I'm just shooting straight with you. I'm going to deep dive this. I'm going to get my, my partners, my contractors, my team in this project on this property, and we're going to really make sure that this number fits. And so I've just set them up for, I've explained what due diligence is, and I've set them up for that. If some reason I don't have a deal, that conversation is not awkward.
I love it. I love that the, the, the, the Beauty of transparency. I just did the. I didn't know if you guys had a chance to look at the video I dropped on Friday. It was called Top 10 Lies Wholesalers Tell Jamil.
I did the same video at this on the same day.
Get out of here.
It was 17 ways wholesalers are Unethical was my title.
How did we do that? We were. I don't know. That's hilarious. Did you get a lot of, did you get a lot of flack? I did.
On some of them I did.
Yeah.
Some of the things I did.
Which one?
Which ones?
They got angry at me for. For. They, they said that it. There's nothing wrong with lying to a real estate agent pretending to be the cash buyer versus admitting that you Wholesale. Right. That they want, they want me to. And they're saying, you're just saying that now because you made it. You're just saying that now because you made it. But back in the day, I bet you, you were a lying sack of crap too. Right? But I wasn't. You remember me, Brent? I worked with you how often? And I was straight with everybody. You can be honest and be successful at the same time. Whoever's telling you, wherever you're, you, that, that, that, that piece in your brain, that thing in your brain that's asking you to lie, that's what you should be questioning. That's what you should be mad at. Not, not the opposite of that.
Yeah.
I don't know. It was interesting. It was interesting. And then I also noticed that I, I, in the beginning of that video, I went down like 13 subscribers.
Yeah.
So I lost audience for being honest. I, I, I got, I got, you know, people giving me flack for it.
Yeah. See you later. Let them go. I got flack. A couple of mine, I got flack on which I knew I would, was. I'm kind of a stickler about earnest money. I know it's controversial. Like, I think you should put significant earnest money. A lot of the industry doesn't and disagrees with that. I got some flack on memos, filing memos. And what I said was filing a memo with the intent to hold the seller hostage is unethical. So, you know, not filing memos in and of themselves are bad. It's what you're doing with the memo that is unethical. So I think people maybe misunderstood what I was trying to say there. And I'm trying to think what other ones. I mean, I talked about things like days we see that are just sneaky and tricky and not true. Not truthful. One of my pet peeves lately has been, tell me if this happens to you guys. Where I'm dispoing a deal and another wholesale responds as if they're a cash buyer. And then they talk to me and say, I'm a buyer. I'm a buyer. And what they usually say is, I need to get my partner to look at this. Can I have access? Can I have exclusive? And they. They kind of want to. What they're doing is they're leading me on to maybe hold the deal for them is I think what's happening. And then they come back and they. They say, oh, well, I'm not actually a buyer. I'm a wholesaler, but I have a buyer. It's like, dude, just tell me. Tell me that.
Yeah, because it's not like you're gonna say no to jv. Yeah, you know what it is, though, too, Jerry, there, that you do? Get those turkeys out there who are like, oh, you're not the buyer. I don't want to deal with you at all. Right. And so that I think that gets people when they. When they're like. When they talk to somebody and they're like, hey, can I help you? Can I help you disco this your property? And that wholesaler's like, nah, man. I got it. Okay, cool. I, I. The. The solution there isn't to lie to them. Pretend to be the buyer and try to do the deal anyways. The solution there is call them on day nine when they still haven't sold that deal, and then when they're desperate, be the savior.
Yeah. Or just tell me, say, hey, I got a couple buyers that might want to. Might want to do this deal. Are you cool with that? Yeah, I'm cool with that. Go show your buyers my deal, you know?
Well, so we put that a property on the market that we closed over the Fourth of July week, and we're getting offers, and Jeremy will just Google the buyers names and the. And whoever signed and what the company is. And they're like, no, no, we're buyers. And then you see all of their profile stuff on Facebook. That is them wholesaling deals. We're like, bro, like, just tell us. We don't care. Just let us know up front that if you've got a great buyer, if you've really, you know. You know what I mean? Like, stop acting like, like, do a little research on who's listing this property. Do a little research on what's happening here. Do a little research on the company that owns the property before you do these offers and pretend like you're going to buy it when you're obviously a wholesaler. Just let us know.
Yeah, it's.
There's all the information's out there. If your name. If you have a interview with Steve Trang on Disruptor that literally says, I wholesale 30 to 50 deals a year, and then you say that you're the buyer on this thing, we're not going to believe you. Okay. Literally happened today, Jamil. Literally today. It's like, come on, guys, we can little. If you're going to be a wholesale, if you're going to be dispoing and putting it out there and building up your cash buyer database, you're going to be on social media. Your deal. Be out there. You're going to be out there. Your company's name is going to be out there. You were going to know that you're. You're doing this to just wholesale it. So just tell us. Stop being silly. You're being immature.
Yeah. And you're happy to connect, right? That's the other part.
Love it.
Look at who Brent is. What? Love it. You see an ounce of, like, I don't want to work with you and Brent. Nope. Do you. Have you ever seen him behave that way? No. So then why lie to him? Why not? Why not just keep it on the up?
It's. It's wild. It's wild. It's wild. Adam asked, how do you guys feel about deliberately buying a house for too much money? In exchange for the sellers giving you a note and deed of trust on one of their properties? Notice at 10% for 30 years. Let me say that again. How do you guys feel about deliberately buying a house for too much money? Okay. In exchange for the seller giving you a note and a deed of trust on one of their other properties, but they're gonna pay you 10% over 30 years. Does that make sense? Everybody, we got this. How do you guys feel about that?
Here are my thoughts. I want to. I first want to understand why. What. Why would you. What. What are you trying to accomplish by overpaying for that? Are you doing something like. Are you trying to set, like a price in a neighborhood? Because that happened. I don't know if you guys remember when I was flipping the house with. Flipping those houses with Pace on the TV show, we had a west side deal that we got this offer. It was like $50,000 over list price. And I looked at who the buyer was, and it was open door. And I thought, why the hell would Open Door be wanting to buy this renovated home for me for $50,000 over price. And then I realized what happened, because I looked at all of the properties that Open Door opened owned on the block, and they owned most of the block. And by paying me an extra $50,000 for my house, they ended up increasing their balance sheet by, like, $4 million on all those properties because they artificially inflated the market. But you all know, you also want to know what that's called, guys? Fraud. And so my opinion is, don't do it. Do you like being free?
Yeah, it's. Well. And listen, they got. They got a bunch of lawsuits. Obrador's got. Yeah, they got their hands full. Good thing they're a publicly traded company.
Who goes to jail then? The public.
Right. Yeah. I mean, to answer that question really quick, listen, you make money when you buy. Am I gonna. Am I gonna give you cash so that you give me an IOU for 30 years at 10? What if you don't pay?
Right.
And then I get to foreclose or I get to, like. That's a whole bunch of distraction to me.
You lost me. You lost me at overpay.
Yeah. Yeah, I know they did. Jerry had a. Jerry had to take a break. He had to get off the screen. He had to get out of there.
Yeah, he was.
It literally offended him.
Yeah.
You know? Yeah, it literally offended Jerry. Jerry was like, I'm not. I'm not playing this game. Okay? I got to get out of here. I got to get as far away from overpaying as possible. I love that he's frozen right now. There it is. Okay, in your opinion, bird dogging and focusing on dispo feels great to me. How would you make sure you get 15k consistent? What is better way to be efficient in dispoing deals and connecting? What is a better way of being more efficient in dispoing deals and connecting?
Joel, there's. There's no way to make sure you're going to get 15k on a deal consistently. Because if you're JV, is what you're saying here, you're going to dispo, then the quality of your deal is dependent on the quality of the negotiation your JV partner did. And so consistency is one of those pieces we don't get in JV deals because every deal is going to be different. But how do you make sure that you're not wasting time is what I think the real question is. Her brother, and. Because what you don't want to do is you don't want to spin your tires. You don't want to go and push deals that are not deals. You don't want to push addresses. You want to push deals. Let me rephrase that. We don't want to push addresses. We want to push deals. And your buyers are judging you. Your buyers are judging you immediately. They are judging you. They are judging you by the quality of the deals that you're sending them. And if you're sending them addresses that are overpriced, they're going to. They're going to mute you. They're going to tune you out. I want that when I call somebody or when I send somebody a text, that. That is. That becomes their number one priority to deal with right this moment. Because when I message you, it's money. That's how I. That's how. That's how I would work on that. As I would work on the quality of my deals, Joel. I'd make sure that I never sent out garbage. I only sent out good stuff, and that I had good relationships with my people. And then you. And. And beyond that price. Well, because if you stick to the standard of I gotta make 15 grand, you're going to overprice houses. You're absolutely going to overprice houses. If you think that you got to make a consistent 15 grand on every house, bro, you are going to overprice something. It's. That's not how it's done. Sometimes I'm going to make two grand on a house, but I'll. I'm happy to make two grand on a house if I've priced it right. And I know that my buyer is going to make money, and I know that I'm going to build a relationship with the JV partner. I'm way happy to do that for two grand than to put it up for 15 and have nothing happen. Have no buyers like it. Have my JV partner think I'm a slouch because I effed up. I told him I'd sell it, and I couldn't sell it. Everyone's looking at me like, you just suck, bro. Like. And then what did I do? I overpriced it by 15 by 6, 13 grand. That's what I did. Because I had this imaginary bar that I had to keep in my mind, and I needed to make 15 grand every time I did it. That's not how it's done. Do it deal by deal, Joel. And only market deals, not addresses.
And understand that there's a hierarchy of what people will pay for deals. There is. And so how. What is your mix of cash buyers? What's the mix of cash buyers? I give this example of a deal that Jamil and I did years ago. It's probably 20, 18 or 19. And we pushed it, we pushed value on this thing. And I think we made like 30,000. We're like that. We are squeezing it. And then Jamil signed it. Jamil Keighley assigned it for 45,000 more or something. 42 to 45 or something. And I was like, how is this possible? There's no way. The thing needs so much work. This thing needs like there's no spread. I mean, it needed like a hundred thousand dollars worth of work. And then it. And it left only about 40,000 worth of spread for a cash buyer. And what happened was they knew a buyer that wanted to live in that area. They had a cash buyer that specifically wanted to live in, in that area. You see, owner occupied is right under there, under the creative financing knuckleheads and crazy people that'll buy anything at any price, the hedge funds. And then owner occupied. And so people building their portfolio with Creative Finance are going to overpay for properties because the numbers make sense long term. That makes sense. Hedge funds, they've got a lot of backing. They're double dipping. It's a whole strategy. I can get into that in another hotline, but they're kind of coming back, kind of not. But then you got owner occupied. If you're selling to an owner occupied, they're going to pay more than somebody that is looking to make a profit off of a flip. So it just depends on what are the type of, what is the mix of cash buyers that you have in your database. And the more of a mix that you have, the more that you understand Keighley made that much because they knew exactly who to sell that deal to. And your guy jumped on it, Jamil. He was like, I need this deal. Whatever you give it to, like blowing it up. Whatever it takes. Give it to me, give it to me.
Give.
We kept bidding it up, bidding up. And we're like, oh, we got keely good this time. We got them this time. And then they, they, they put another 45 on. They had a ton of room and, and, and made a really great deal there because somebody wanted to live there. There's no way that person would have got into that neighborhood at the price that they ended up paying for unless they knew a wholesaler and unless they were paying cash for it. And that's exactly what happened. So just Remember that it is. Yes, it is. Making sure you've got really good deals from your JV partner. It's also on you to go out there and make sure that you're, you're adding people to your database all the time if that's going to be your strategy.
Joel, well said.
And it's exactly what Jamil is a master of. Abdul asks how to find cash buyers for commercial properties from 30 to 90 units. Because under that you can find investors and above 100 a lot of big hedge funds are buying can find one, can you find one for 64 units? How would you find something to wholesale a deal with 64 units?
Bro, they're okay. There are incredible commercial real estate agents that specifically deal in that niche that, in that smaller under a hundred, under 100 unit, under 100 door multi family, above 20, above 8, under a hundred. And they've got the market. Those guys have every buyer. They know everybody who's doing those types of trades. Your job should be to communicate with as many of them as possible and let them know that you, you specialize in finding off market smaller multifamily projects that are value add and you would love to partner with them to help move these to their, to his buyers and you form a good relationship like that. Like I've got Hannah Hammond. I don't know if you guys are who familiar with who Hannah Hammond is. She's a, she's a boss, right? Like that woman has her fingers on and understands commercial and like nobody's business. And so I got a good commercial deal, a little multifamily deal or whatever. I even got commercial office. This is only in Phoenix. Guys. Don't DM me your commercial in anywhere else but Phoenix. But if you've got, if there's a good commercial deal, I connect the dots with her. We can make good money. And, and some of those commercial deals right now are starting to, they're starting to move around because we've kind of hit that basement like they've gone as low as they can go now and now people are starting to trade up. It's like commercial office is seeing what residential saw in 2012. That's what's happening right now in office commercial. It's hit the basement. It's gone as low as it can go and it's starting its gradual creep up and there's a lot of people that are doing, they're, they're changing the use. So people are taking these old offices and they're turning them into co living. Wow. Incredible.
Incredible. Yeah, you got to go with a broker. They know it. They have all the buyers. They have all the buyers. So find a really trusted one for sure. This is a great question. How. How do you find a good contractor willing to walk properties and go over rehab costs with me? What value can I add to them?
Oh, my God, Jerry.
I mean, I got thoughts around that. You want to be very, very careful not to abuse a contractor's time. Like, don't make contractors walk every. Everything you get under contract. They're going to stop doing it. They're not. They got, you know, they're busy. They got to make money, too. They got, you know, work to do. And so I will do that very seldomly with contractors I know like and trust who I've used before, but only when it's a project where I've. There's a. I have a really good reason why I need that contractor to walk the project. Otherwise you're going to be wasting their time. Be very careful about wasting their time. So just be thinking about that. Like, how often are you going to be asking them to walk that property, Walk properties for you. Now, if it's a deal, I'm going to take down and, and fix and flip. Well, yeah, I mean, I'm going to tell them. I'm say, look, this one, I'm going to buy, this one, I'm going to rehab. I'd love for you to walk and give me a bid. Here's what I want to do. That's a great use of time because now they're bidding a project that they might get a job on. But just having them walk projects so you can run numbers, so they can run numbers for you so you can make offers, that's gonna be tough to do.
I've got a really good solution to this, actually. So a few months ago, I made a connection with a national general contractor. And these guys are phenomenal. They're a national general contractor and they have investor pricing and they are happy to actually go and give you a bid. They only ask this of you. They know that working with wholesalers, they're not going to get hired by the wholesaler. They're very well aware of that. But what they want is they would love for you to attach their bid to your deal to your. If. If their bid helps you sell your deal, attach the bid to that so that that buyer could. Could hire that general contractor. That's all they ask. They want. They don't want you to pay them. They don't want anything in return. But for you to refer them should your buyer buy that deal using your using their bid. So if you want a relationship with Quickflip, send me a DM and I'm happy to make an introduction for you. These guys have, they've actually helped me wholesale like six houses last month.
Awesome.
And, and four of those buyers are actually using them for the construction. So it was great.
That's awesome.
Put this question in 17, 000 times. So hey, persistence wins in this business. I it. Listen, I love it. Hey guys, have you ever survey hacked a deal? I've got 80 acres and want to split off 70 to flip. How would you go about structuring that, Jerry?
Well, you got to get with zoning and see if they'll let you parcel it off. I mean if it's all. If 80 acres is zoned as one parcel and you want to subdivide the land, then you got to go through zoning and see what they require to do that and if they'll let you and all that. You know, it's going to depend on where that's at and what they allow you to do. But just call up, call up the zoning department and tell them what you want to do.
What's the, what's the likelihood?
Well, I, I think pretty likely. I mean 10 acres is a pretty big, it's not like you're trying to do, you know, quarter acre parcels or something out in, in a rural area. It doesn't sound like. So I would think you could parcel off 70 out of 80 pretty easily.
Awesome.
It's gonna definitely depend though on, on the zoning in that area.
Elmer asked a great series of questions here and starts with how, how do the free leads differ from the paid ones? I assume that's more like prospecting and going out there, door knocking and, and, and getting your list and, and reaching out, initiating the conversation versus paid ones. Free ones get a lot more traffic since they're public. So I'm wondering if there's a difference in quality exclusivity or how likely they are to convert compared to paid options. So go ahead, Jerry.
Oh yeah, I mean, of course, you know, paid marketing is always going to bring a higher intent buyer and a higher quality, I mean a seller, a higher quality lead because you're marketing now to attract that high quality seller. So like Brent, PPC is a great example. You're paying to advertise on Google for people to inbound with their need. So that motivation is really high. You're going to have a shorter cash conversion cycle, higher assignment fees, all around your life is going to be better, bigger, bigger profits. It's just going to be so much better. The, the challenge, the question really isn't should I do free or should I do paid? If you've got budget, you should always do paid. You're going to get better deals. It's how do I transition from no marketing budget to a marketing budget? Like that's really the question everyone should be asking where do I start, how do I, how do I start with free and then maybe move into the more high quality paid leads?
I think it really. Yeah it breaks down to what the.
The challenge, the question really isn't should I do free or should I do paid? If you've got budget, you should always do paid. You're going to get better deals. It's how do I transition from no marketing budget to a marketing budget? Like that's really the question everyone should be asking where do I start, how do I, how do I start with free and then maybe move into the more high quality paid leads?
I think it really. Yeah it breaks down to what is your goal? You know, if you're looking at, if you're familiar with the cash flow quadrant, there's four ways to make money, right? As an employee, as self employed, as a business owner and as an investor, right. This, this is old school rich dad, poor dad and is your goal, you know, if you're looking at, if you're familiar with the cash flow quadrant, there's four ways to make money right? As an employee, as self employed, as a business owner and as an invent. And it's really important to understand where you want to be if you want to stay in the self employed specialized skill you're calling, you're going out there and hustling, you're you. The profitability is going to be fantastic but you're going to kind, you're gonna, you're gonna really kind of cap out typically in income at around I would say between 4 and 600,000 that you take home a year. You're going to, but you're doing it all day. You gotta love the game, you gotta love the hustle. You're on 24, 7, 365. You're doing it right. That's how you keep the profitability. And you could do that over and over. You're basically an on call surgeon that if your client's ready to go right now and you get that beep on your beeper, you're going right, you are in it, you are on the, you're doing this day in, day out. Now, if you want to go to business owner and you try to hire a bunch of people that aren't going to get these big time profits, these big time incomes, every single year, they're going to make 100, 150, maybe 200,000. But you want them to get a bunch of just free leads, free marketing, hustle it up, you're going to have a lot of churn, you're going to have a lot of turnover, you're going to have to train them up a lot, you're going to have to train new people up a lot. And you're going to have to, you know, basically just you're going to have to be an incredible leader of a lot of people until you get to paid marketing. And that's where most people go when they scale. They want to drop really high quality leads on their people so that they can convert them fast. Because winners in your company, guess what they love doing, they love winning, they hate losing. They don't want to have to talk to 100 leads to get one deal, they want to talk to 10 or 15. And that's the facts. So if you want to scale and be a business owner, work on your business, not in your business, your income is going to drop, by the way. Your personal income will drop when you make that transition, but then it'll swoop back up. And now you're at that position where you become an investor, you're looking at more assets to buy and that's when you really build long term wealth as a business owner. And so it just depends on what you want to do. Do you want to just make 3 to $500,000 a year hustling for the next 20 years, put some money aside, put it in the market, buy some property, do some cool things and be done, done and dusted after 25, 30 years? Great. Stay there. If you want to work on building an actual business, you got to get paid marketing. It's going to be higher quality, they're faster leads and the people that are going to work with you are going to want those leads. And so the top of the pyramid with that. My experience is our pay per click leads. They're better leads than if your mother or your grandmother referred you a deal. I'm just telling you they're smoking hot leads. They're people that want to sell right now. First get paid marketing. It's going to be higher quality, they're faster leads and the people that are going to work with you are going to want those Leads. And so the top of the pyramid with that, my experience is are our pay per click leads. They're better leads than if your mother or your grandmother referred you a deal. I'm just telling you they're smoking hot leads. They're people that want to sell right now. If you're interested in that, go to talktopeople.com.
Yeah, my workup, bro. I want my phone to start ringing while I'm in Canada. Let's get some deals done here.
I know, listen, I'm working on it. I gotta irons in the fire, bro.
I'm sitting here twiddling my thumbs, man. I'm trying to go, I'm trying to go get some Canadian wholesale deals, homie. Come on.
It is cheap there, bro.
I mean it is poutine in my pocket, bro.
Cost per click is bananas up there. Nobody's doing it. Well, we'll figure it out.
Amazing.
And I'll, and I'll and I'll back that, Brent. I mean we use your agency in a couple of my different markets and you do fantastic for us. We're more than thrilled with what the results we get. So keep up the good work.
Thanks, Jerry. Yeah, appreciate it. Well, listen, you know, you, you can just in that go to talktople.com.
Yeah, and I can my workup, bro. I want my phone give people the.
Absolute best leads possible. If they can't convert them and they don't have the systems in place to.
On the phone to start ringing while I'm in Canada. Let's get some deals done here.
I know, listen, I'm working on it. I got it with them right away. None of it works. You can have the absolute best leads, but if you don't have the process in place. Irons in the fire, bro.
I'm sitting here tw. Twiddling my thumbs, man. I'm trying to go, I'm trying to go get some Canadian wholesale deals, homie. Come on.
It is cheap there, bro. I mean it is place and that's what we really, really focus on. We've got incredible training and, and, and really high level of accountability with those leads. So it's that, that's the second part of it. Trying to get my first deal in Boise, Idaho being in a non disclosure state. Do I rely on realtors for comps or is there a data provider with accurate sale and comp info in North Dakota states?
Jerry, does prop wire have you.
Yeah, you can comp in there? Yeah, we have a comp cool in there.
Prop wire. You can also and it does non disclosure as well. Right.
I, I'm pretty, yeah, I'm pretty sure. I'll double check that.
And if it doesn't go to prop wire and if it doesn't then you can also go to dealsauce IO I know for sure that we, we definitely work in, in Idaho. We work in Texas. We also work in Utah which is a state that even privy doesn't have MLS data in. So. Yeah. DLC poutine in my pocket, bro.
Cost per click is bananas up there. Nobody's doing it. Well, we'll figure it out.
Amazing.
And I'll, and I'll and I'll back that, Brent. I mean we use your agency in a couple of my different markets and you do fantastic for us. We're more than thrilled with what the results we get. So keep up the good work.
Thanks Jerry. Yeah, appreciate it. Well, listen, you know you, you can.
IO if you need that for, for comping but do not trust a real estate agent for their comps. They're gonna do not. And I'm not saying that because they're gonna lie to you. I'm saying that because they're gonna lie to you.
George said what if you want both paid leads and skills to answer then Joe homebuyer franchise. That's what Jerry and I did. Yeah, yeah, yeah, absolutely. You know, George is crushing. George is in Brazil or Colombia. One of the two. Absolutely. I mean look at it. He's on the beach there showing off those pecks. Looking good. I love it.
No, nobody. If you're in Colombia, bro, I don't have anything else to say.
Scott Allen says do you guys think the market will pick up some somewhat pick up in September, pick back up in September?
It's possible.
I mean give people the absolute best leads possible. If they can't convert them and they don't have the systems in place to get on the phone. I think what's happening in September?
Well, it's just the fall. You know the summer is, the summer does get slow.
People come with them right away. None of it works. You can have the absolute best leads but if you don't have the process in place and that's what we really, really focus on. We've got incredible training and, and, and.
Really high level on holiday if you're in a hot market like Phoenix or Vegas. It's also that who's, who wants to.
Go house shopping full of accountability with those leads. So it's that. That's the second part of it.
Trying to get 118 degrees and so there's some definite, there's some definite depression in, in demand that happens during the summertime. But I think we have a, a deeper problem, Scott, than, than seasonal fluctuations. I, I really do think we have a deeper problem. I think that we've got our buyers. I think our sellers right now are still sitting on the fence because they've got great interest rates and so they're not really all that motivated to sell for less. I think you've got rates that are just really, that are, that are. In my opinion, I think that we've got rates too high for too long. I, I read somewhere today that there's a possibility that Jerome Powell might resign. I don't think there could be a better thing for the economy if my.
First deal in Boise, Idaho being in a non disclosure state. Do I rely on realtors for comps or is there a data provider with accurate sale and comp info in North Dakota states?
Jerry, this prop wire have, have it? Yeah. And him leaving the Fed, I don't think that he's writing. I don't think he's, he's flying the aircraft correctly. I think he's, I think he's crashed it quite honestly. And I think that we need somebody, somebody new in there that has a new perspective and can give us some new blood. Three years of high interest rates, environments, guys, that is strength.
You can comp in there. Yeah, we have a comp cool in there.
Prop wire. You can also, and it does non disclosure as well. Wrangling the, that is strangling the money markets. Like there is no reason for that. And so I don't think, Scott, that you're gonna see a massive uptick in demand in September. I don't think you're gonna see a massive uptick in demand until we, until Powell's out. That's just my opinion.
Yeah, it'll be interesting, you know. Yeah. Historically, a lot of houses sell in the middle of the summer. Right. And you know, we'll see, we'll see what happens in fall as things pick up. But I think you listen, you know, it doesn't matter. It doesn't matter.
It doesn't matter.
We're having a better year this year than we had last year, than we had the year before, than we had in 2018 or 19 or even 21. We're having a better year. You know what I mean?
Like, and do we. I, I'm pretty. Yeah, I'm pretty sure. I'll double check that.
And if it doesn't go to propyer and if it doesn't, then you can also go to dealsauce IO I know for sure that we, we definitely work in, in Idaho. We work in Texas. We also work in.
And do we care? We just adjust with. I mean like I've never woke up and said, you know, what should I do?
What I do Utah, which is a state that even privy doesn't have MLS data in.
So yeah, deals every day next month or tomorrow. No, you just, you do your thing, guys. Just adjust as quickly as you can. We want to move with the market. So if our buyers are adjusting, we're adjusting up or down.
That's the, the, the, the most beautiful thing about being a wholesaler is that we always have our pants up. Everyone else in the market has where they've got their pants at their ankles and, and, and you know, the shore goes out and we get to see who's not wearing them. But, but, but truth be told, if you're a good wholesaler, then you understand the market. And if you understand the market, you're adjusting and you never get caught with your pants down. Never. Well, well, being a wholesaler. Yeah.
Let's be honest. When interest rates changed, it was the flippers that got destroyed.
Yeah, the flippers.
100. I took a bath on my flips. Yeah, I lost a half a million dollars.IO if you need that for, for comping. But do not trust a real estate agent for their comps. They're gonna do not. And I'm not saying that because they're gonna lie to you. I'm saying that because they're gonna lie to you.
George said, what if you want both paid leads and skills to answer, then.
There'S on those flips on the last, the last season that we had of a triple digit flip, all of the half of those houses, the last half of those houses we got creamed on them.
Creamed Joe homebuyer franchise. That's what Jerry and I did. Yeah, yeah, yeah.
I want to tell you that part of the story.
That would have been interesting.
Right?
But that's the truth. I mean guys, you got to be real careful when you're building your business. And if you haven't replaced yourself and you're like, oh, you know what? I'm gonna. I really want to squeeze the most out of this. I'm go do a flip. I'm telling you, 30, 60, 90 days can change like that. And if you have a project, it could be that it could go down by 20, 40, $60,000 depending on where you're at. More in some markets. I mean, Jamil, you know, as soon as, you know, June, July of 2022 hit, you have all these deals out there, boom. Half a million dollars gone in in probably 30 days. I mean, the interest rates just went right.
It was bananas, dude.
It was bananas.
Absolutely.
But that happens all the time. Absolutely. You know, George is crushing. George is in Brazil or Colombia, one of the two. Absolutely. I mean, look at it. He's on the beach there showing off those pecs. Looking good. I love it.
No, nobody. If you're in Colombia, bro, I'm all.
The time in this business, if you buy the property, you take the risk. Okay. And if you're not in a position to hold on to that property until you can mitigate that risk, you're going to take a bath. And. And we've all learned it. We have all learned it. We've all been like, ah, this is the time.
I don't have anything else to say.
Right. When you think it's the time, take another 30 days.
Yeah, but you know what? You know what, though, Brent? Like, the best way to stay mobile with the market is just stay close to your buyers. Like, you and I were talking, you and I were talking earlier today and you're. And you said to me, yeah, today's been fist fights with, with my buyers, meaning your buyers are beating you up on your deals. And so what do you think Brent's doing, guys, if he had a day today where all his buyers are beating him up on his deals. Well, he's adjusting. Of course he's adjusting because he's getting instant feedback from his buyers.
Well.
Yep, lost in there a second. But it's the absolute truth. I mean, the buyer, the buyers are taking their time. And a lot of them are. They can't recycle their money because their properties are sitting on the market too long.
That's.
Scott Allen says, do you guys think the market will pick up some. Somewhat. Pick up in September, Pick back up in September?
It's possible. I mean, I think.
What's happening in September?
Well, it's just the fall. You know, the summer is. The summer does get slow, people.
It's just the facts. And so they can't go and go raise more funds from their, you know, all of their family members and friends that have these 401ks because they're all like, no, no, I, I see what's going on in the market right now. I hear the news right now. It's not easy to just go raise these private money lenders as it's not as easy as it is when. When everybody's like, oh, the market's going crazy. The market's amazing. You know what I mean? And so with that, there's less buyers. So you got to. You gotta understand that, and you gotta adjust your prices and. What did you say? It's not fat. It's not low cash offer. It's fast cash. That's such. That's such a better frame.
Yeah. Because you pay low cash. You're just subconsciously telling them the numbers low. Right. And when you're. When you're going fast cash, you're telling them that this is the speed. This is the speed option we like. Who doesn't like fast? For those of you asking for the link for the general contractor, it's in my name. It's called the quick flip link. I don't know if Jerry or Brent, you see it there, but maybe if you could potentially repost it. My. I'm. I'm having a hard time with my comments today.
Yeah, YouTube's doing this thing where it's saying. It's rejecting your comment. This usually means that it's. It thinks it's spam or something. I'll get it.
Okay, cool. Thanks for thinking I'm spam YouTube. I mean, it's me. The hell dumb.
And it won't let me copy and paste on this. There it is. Take a. Write it down.
Yeah, write it down. Take a picture of it with your phone. But that'll get you right to. To the executive team over there, and they'll take good care of you. What do you guys got going on this week?
Yeah, it was good. I was. I was gone all last week in Massachusetts and beautiful vacation week.
Somebody new in Massachusetts, they thought they drove by you.
Yeah, definitely me.
Yeah, absolutely.
Cape. Cape Cod. Yeah.
Very cool. Dude, what were you doing out there?
My sister lives out there, and we were celebrating my mom's birthday. And so it was like a mini little family reunion, which was really cool. Got to spend some time, put my phone away and. And really just tuck into, you know, those. Those memories.
One holiday. If you're in a hot market like Phoenix or Vegas, it's also that who wants to go house shopping at 118 degrees? And so there's some definite. There's some definite depression in demand that happens during the summertime. But I think we have a deeper problem, Scott, than seasonal fluctuations. I really do think we have a deeper problem. I think that we've got our buyers. I think our sellers right now are still sitting on the fence because they've got great interest rates, and so they're not really all that motivated to sell for less. I think you've got rates that are just really.
That are the little kids running around and playing a lot of baseball, getting destroyed. I. I'm wearing pants for the next couple weeks, Jamil, because of the mosquito bites. It's like I have chickenpox. It's crazy. Oh, my gosh. I am so delicious, bro, you have no idea. If you were a mosquito, I would be like, you know, grade A beef, you know?
You know, when I was 100 pounds heavier, I couldn't keep the mosquitoes off me. Now they don't want to eat skinny, Jamil.
Oh, man, that's. That's. I guess I gotta. I gotta drop some. Some calf weight, some thigh weight. That's the only thing they bite. No, they bit me everywhere. It was crazy. But we don't. We don't deal with that here in the desert, all right?
We just.
We just burn mosquito larva with the sun. But, yeah, Wednesday show, guys. It's going to be an Excellent show. 1 o' clock Eastern Standard Time, 10 o' clock Pacific Standard Time. We go live on the Brent Daniels YouTube channel. If you are not subscribed to all of our channels, make sure you take a moment and just go ahead and subscribe. It is everything you need. You can literally, without a doubt. And I say this with full confidence and sincerity, and that are, in my.
Opinion, I think that we've got rates too high for too long. I. I read somewhere today that there's a possibility that Jerome Powell might resign. I don't think there could be a better thing for the economy than him leaving the Fed. I don't think that he's writing. I don't think he's. He's flying the aircraft correctly. I think he's. I think he's crashed it quite honestly. And I think that we need somebody. Somebody new in there that has a pride.
You could go through our channels and you could make a million dollars based on the instruction. And it's all free. It's all there. You can get it all on Jamil's channel, Jerry's channel, my channel, and Pace's channel. You can go in there, subscribe to all of them, take it seriously. Take an extra moment, subscribe to it. Also make sure that you go on any of the podcast platform, podcast platforms that you like, and subscribe to the wholesale hotline. We put out new content guys, seven days a week, 365 different pieces of incredible instruction every single year. We've been doing it four years. You can see the reviews. We would love if you would put in a review. We read them all.
It pumps new perspective and can give us some new blood. Three years of high interest rates, environments, guys, that is strangling the. That is strangling the money markets. Like, there is no reason for that. And so I don't think, Scott, that you're gonna see a massive uptick in demand in September. I don't think you're gonna see a massive uptick in demand until we. Until Powell's out. This is my opinion.
What's this up. And so definitely check all those out and subscribe to all those, and you'll have everything that you need to go take massive imperfect action every single day. Jerry, what are you up to, man?
I'm just having the best summer. We're out in Montana at our lake house, and we're hanging out with Pace in his family every day. It's just been so fun. So I'm trying to. I'm trying to have fun and. And work a little. Play a lot and work a little right. Right now. But, yeah, just. Just enjoying life.
You look. You look great, Jerry. And you. You guys deserve the rest. So enjoy that. Enjoy the time with your families, you know?
Dude, I'm so sad. I missed you, Jamil.
I know. I was bummed, too, dude.
Even I was a mess. I got poison ivy and it wrecked me.
Yeah, yeah, yeah, you're. Anne Marie reached out to me, but we'll see you again. Charisma. And I plan to come back and. And say, what's up? We're only six hours from you guys, so we'll. We'll definitely come down. I don't have anything outside of calling all of my buyers to present them with the new discount that they're going to be getting from Home Depot. So one more time, guys, if you see the Home Depot link in the chat.
Yeah, it'll be interesting. You know, historically, a lot of houses sell in the middle of the summer, right? And, you know, we'll see. We'll see what happens in fall as things pick up. But I think you listen, you know, it doesn't matter. It doesn't matter.
It doesn't matter.
We're having a better year this year than we had last year than we had the year before.
Then take it. Go fill out that form for yourself and get on the phone with your buyers over the next week and share that with them. Share that with your buyers. You are giving them an incredible discount that they're not going to be able to get anywhere else. It will help you sell more deals. It will help them save a tremendous amount of money and it's worth it for you to take the time to make the call for them. So the link was in the chat. Go check that out. Go fill out the profile for yourself. And outside of that, just enjoying life.
Awesome. Well, that is our show for today. That is wholesale hotline episode 278. We'll see you every single Monday to show you that it doesn't matter what market you're in. There are millions of opportunities for you to go out and get a deal of a lifetime. Because that happens every single day. We love you guys. We'll see you next week.
Or just say squat up.
So squat up and enjoy the show we had in 2018 or 19 or even 21 mean we're having a better year. You know what I mean?
Like, and do we, and do we care? Do we just adjust with, I mean like I've never woke up and said, you know, what should I do what I do every day next month or tomorrow? No, you just, you do your thing, guys. Just adjust as quickly as you can. We want to move with the market. So if our buyers are adjusting, we're adjusting up or down.
Yeah.
Okay, so squad up and enjoy the show.
What are you doing? I didn't say that thing.
Why?
So squad up and enjoy the show.
Cool.
I think we should use the one where Jamil doesn't say anything.
Yeah. That's the most beautiful thing about being a wholesaler is that we always have our pants up. Everyone else in the market has time where they've got their pants at their ankles and, and, and you know, the shore goes out and we get to see who's not wearing them. But, but, but truth be told, if you're a good wholesaler, then you understand the market. And if you understand the market, you're adjusting and you never get caught with your pants down. Never. Well, being a wholesaler.
Yeah.
Be honest. When interest rates changed, it was the flippers that got destroyed.
Yeah, the flippers.
100. I took a bath on my flips.
Yeah.
I lost a half a million dollars on those flips. On the last, the last season that we had of a triple digit flip. All of the half of those houses, the last half of those houses, we got creamed on them. Creamed. I want to tell you that part of the story.
That would have been interesting.
Right.
But that's the truth. I Mean, guys, you got to be real careful when you're building your business. And if you haven't replaced yourself and you're like, oh, you know what? I'm gonna. I really want to squeeze the most out of this. I'm gonna go do a flip. I'm telling you, 30, 60, 90 days can change like that. And if you have a project, it could be that it could go down by 20, 40, $60,000, depending on where you're at more in some markets. I mean, Jamil, you know, as soon as, you know, June, July of 2022 hit, you have all these deals out there, boom. Half a million dollars gone in in probably 30 days. I mean, the interest rates just went right.
It was bananas, dude.
It was bananas.
Absolutely.
But that happens all the time. That happens all the time in this business. If you buy the property, you take the risk. Okay? And if you're not in a position to hold on to that property until you can mitigate that risk, you're going to take a bath. And we've all learned it. We have all learned it. We've all been like, oh, this is the time. Right? When you think it's the time, take another 30 days.
Yeah, but you know what? You know what, though, Brent? Like, the best way to stay mobile with the market is just stay close to your buyers. Like, you and I were talking earlier today, and you're. And you said to me, yeah, today's been fist fights with. With my buyers, meaning your buyers are beating you up on your deals. And so what do you think Brent's doing, guys? If he had a day today where all his buyers are beating him up on his deals. Well, he's adjusting. Of course he's adjusting because he's getting instant feedback from his buyers.
Well.
Yep, Lost in there a second, but it is. It's the absolute truth. I mean, the buyer. The buyers are taking their time, and a lot of them are. They can't recycle their money because their properties are sitting on the market too long. That's just the facts. And so they can't go and go raise more funds from their, you know, all of their family members and friends that have these 401ks, because they're all like, no, no, I. I see what's going on in the market right now. Now I hear the news right now. It's not easy to just go raise these private money lenders as. It's not as easy as it is when. When everybody's like, oh, the market's going crazy. The market's Amazing. You know what I mean? And so with that, there's less buyers. So you gotta, you gotta understand that, and you gotta adjust your prices and. What did you say? It's not fat. It's not low cash offer. It's fast cash. That's such, that's such a better frame.
Yeah, because you pay low cash, you're just subconsciously telling them the number's low. Right. And when you're, when you're going fast cash, you're telling them that this is the speed. This is the speed option we like. Who doesn't like fast? For those of you asking for the link for the, the general contractor, it's in my name. It's called the quick flip link. I don't know if Jerry or Brent, you see it there, but maybe if you could potentially repost it. My, I'm, I'm having a hard time with my comments today.
Yeah, YouTube's doing this thing where it's saying it's rejecting your. This usually means that it's, it thinks it's spam or something. I'll get it.
Okay, cool. Thanks for thinking I'm spam YouTube. I mean, it's me the hell dumb.
And it won't let me copy and paste on this. There it is. Take a, Write it down.
Yeah, write it down. Take a picture of it with your phone. But that'll get you right to, to the executive team over there, and they'll take good care of you. What do you guys got going on this week?
Yeah, it was good. I was, I was gone all last week in Massachusetts and beautiful vacation week.
Somebody said they've seen you in Massachusetts. They thought they drove by you.
Yes, definitely me. Yeah, absolutely. Cape, Cape Cod. Yeah.
Very cool. Dude, what were you doing out there?
My sister lives out there, and we were celebrating my mom's birthday, and so it's like a mini little family reunion, which was really cool. Got to spend some time, put my phone away and, and really just tuck into, you know, those, those memories of little kids running around and playing a lot of baseball getting destroyed. I, I, I'm wearing pants for the next couple weeks, Jamil, because of the mosquito bites. It's like I have chickenpox. It's crazy. Oh, my gosh. I am so delicious, bro. You have no idea. If you were a mosquito, I would be like, you know, grade A beef, you know?
You know, when I was, when I was 100 pounds heavier, I couldn't keep the mosquitoes off me. Now they don't want to eat skinny, Jamil.
Oh, man, that's. That's. I guess I gotta. I gotta drop some. Some calf weight, some thigh weight. That's the only thing. They bite. No, they bit me everywhere. It was crazy. But we don't. We don't deal with that here in the desert, all right?
We just.
We just burn mosquito larvae with the sun. But, yeah, Wednesday show, guys. It's going to be an Excellent show. 1 o' clock Eastern Standard Time, 10 o' clock Pacific Standard Time. We go live on the Brent Daniels YouTube channel. If you are not subscribed to all of our channels, make sure you take a moment and just go ahead and subscribe. It is everything you need. You can, literally, without a doubt, and I say this with full confidence and sincerity and pride. You could go through our channels and you can make a million dollars based on the instruction. And it's all free. It's all there. You can get it all on Jamil's channel, Jerry's channel, my channel, and Pace's channel. You can go in there, subscribe to all of them. Take it seriously. Take an extra moment, subscribe to it. Also make sure that you go on any of the podcast platform podcast platforms that you like and subscribe to the wholesale hotline. We put out new content, guys, seven days a week. 365 different pieces of incredible instruction every single year. We've been doing it four years. You can see the reviews. We would love if you would put in a review. We read them all. It pumps us up. And so definitely check all those out and subscribe to all those and you'll have everything that you need to go take massive, imperfect action every single day. Jerry, what are you up to, man?
I'm just having the best summer. I'm. We're out in Montana at our lake house and we're hanging out with Pace and his family every day. It's just been so fun. So I'm trying to. I'm trying to have fun and. And work a little, Play a lot and work a little right. Right now. But, yeah, just. Just enjoying life.
You look. You look great, Jerry. And you. You guys deserve the rest. So enjoy that. Enjoy the time with your families, you know?
Dude, I'm so sad. I missed you, Jamila.
I know. I was bummed too, dude.
Even I was a mess. I got poison ivy and it wrecked me.
Yeah, yeah, yeah, you're. Anne Marie reached out to me, but we'll see you again, Charisma. And I plan to come back and. And say, what's up? We're only six hours from you guys. So we'll, we'll definitely come down. I don't have anything outside of calling all of my buyers to present them with the new discount that they're going to be getting from Home Depot. So one more time, guys. If you see the Home Depot link in the chat, take it, Go fill out that form for yourself and get on the phone with your buyers over the next week and share that with them. Share that with your buyers. You are giving them an incredible discount that they're not going to be able to get anywhere else. It will help you sell more deals. It will help them save a tremendous amount of money and it's worth it for you to take the time to make the call for them. So the link was in the chat. Go check that out. Go fill out the profile for yourself. And outside of that, just enjoying life.
Awesome. Well, that is our show for today. That is wholesale hotline episode 278. We'll see you every single Monday to show you that it doesn't matter what market you're in, there are millions of opportunities for you to go out and get a deal of a lifetime, because that happens every single day. We love you guys. We'll see you next week.
Or just say squat up.
So squat up and enjoy the show.
Yeah.
Yeah. Okay.
One, two, three.
So squad up and enjoy the show.
I didn't say that thing.
Why?
So squad up and enjoy the show.
Cool.
I think we should use the one.
Where Jamil doesn't say anything.
It. Yeah.
