20 year old tries cold calling for wholesale real estate

What's up everybody, this is Jay.

If you know me, you know I do wholesale real estate. This video is going to be kind of a day in the life showing you my day-to-day talking to buyers, talking to sellers, talking to title companies, solving these logistical nightmares that the wholesale business will always have if you're running it the right way. Another thing I wanted to let you guys know is please take action. Stop watching 30, 40, 50 YouTube videos, taking notes and not doing anything about it. Get on those phones. If you don't have the money for marketing, go on Zillow, start calling on-market listings. Something is better than nothing. If you take action, the universe will reward you for taking action, for actually doing something, for making a change, for moving an object. You will get rewarded for that. I don't want you guys to look back a year from now after you watched a million YouTube videos, did nothing about it, and say, oh, it didn't work out, when in reality you didn't make the change that needed to happen for you to see a change in your life, you know? And me, when I started, I started pretty young.

It's a—

but it took me 7 months to close my first deal. I of trial and error. I spent over $5,000 on marketing trying different things and eventually worked out, but that's because I didn't quit. And just being realistic, most of you guys will quit before that 7 months. That's why these days I'm offering a mentorship. My students are closing their first deal in 30 days, a month. That's less than a quarter of what it took me when I first started. That shows you my teaching abilities if we're being honest. But yeah, if you guys want me to hold your hand, show you the way on how to do this in 2024 without ever having to do that bullshit that everybody else is I'm teaching you. DM me on Instagram the word contract. I'll get back to you as soon as I can. We'll see if it's a good fit, and if it is, let's close some fucking deals. Anything else, just like, comment, subscribe. If you have any questions, leave them down below, and let's get right into the video.

Hey Erin, hello.

Hi, this is Jay. I was calling you about Maida Avenue. I wanted to see if the property was for sale.

Yeah, yeah, no, I'm not selling Maida.

I gotcha, no worries. Maybe other property you might be interested in selling?

I don't, just that one. I'm good. I love my payment.

Thank you. All right, we'll talk.

Bye.

All right, bye.

We ain't gonna talk. Why I say that? Why I be saying that shit like I'm gonna talk to you or something? I ain't gonna talk to you, shawty. Like, I be doing too much sometimes. I ain't even gonna hold you, bro. Hello?

Hello?

Hello? Hey, this is Jay. I was calling about the property on Clark Avenue. I wanted to see if it was for sale.

Uh, no, sorry, it is not.

No worries, I appreciate it.

Man, I don't know what's in the pocket. I've been invited to get scammed so many times.

I ain't trying to hear all that, buddy. Just say yes or no. I don't know, I guess I'll just press 1.

Thank you for calling Interstate Power. This is Rachel, how may I help you?

Hi Rachel, um, I'm speaking to a investor that wants to close this property that I'm looking to sell to him with you guys. I'm not sure if you know who it is.

His name is Roberto.

Yes, sir.

You know him? Perfect. So, yeah, I just wanted to double-check with you guys that you guys work with assignment of contracts.

Yes, sir. Well, assignment of contracts Hold on one second, okay?

Okay.

I just wanted to double-check with my manager because it's kind of like a case-by-case basis thing. Okay. He says as long as you know and you're okay with it, then we can do it.

Perfect. So, ¿cómo está, Roberto? ¿Todo bien? Todo bien, todo bien. Okay, ya hablé con ellos, estaría todo bien. ¿Podría cerrar para el viernes? Sí, ok. No, hablé con Rachel y me dio la información de mi compañía de títulos.

Por eso llamé a la Interstate Title, ¿verdad? Sí, hablé con Rachel, que me imagino es la que contesta el teléfono, y me dio la información de Lina.

¿Usted ha trabajado con Lina?

Sí, con Lina estaríamos trabajando con ella.

Entonces, perfecto, entonces para bien, está bien. ¿Cuándo podría ir a hacer depósito y firmar el contrato? Ah, ¿puedo pasar más tarde como a las 2? Ok, perfecto, entonces lo hacemos para JR Properties Rental LLC. Sí, perfecto. ¿Y cuál pues estamos usando? La 2, sí, todo bien. Otra pregunta, hay una persona viviendo en esa propiedad por más de 25 años.

¿Y cuántas casas ha comprado hasta ahí en el área?

Ahí, antes cerré el trato de 4 ahí enfrente, 2 enfrente y 2, las 2 al lado de esa. Después de Navidad podrían salirse.

Ah, pero sí está bien.

Entonces podemos hacer un papel de donde diga que ellos se salen pasando Navidad. Hagamos eso.

Vamos, y sería un depósito de $3,000.

Un depósito de $3,000, okay. Y se lo hacemos en papel, ¿verdad? Porque no quiero hacerlo por DocuSign.

Perfecto.

Hello.

This is Faith.

Hi, this is Jay. I was calling about Blake Street, just wanted to see if it was potentially for sale.

Well, I've already been talking to someone about selling it.

Okay, how's that going for you guys? I'm sorry, what I was saying, how is that going for you guys?

Well, I mean, we've been back and forth and we were supposed to touch base again, uh, the, uh, second weekend— I mean, first week in January. Okay, because we had not agreed, uh, you know, on a price. Now, are you just a homeowner buyer or what?

Well, well, I'm an investor. We like to buy our properties, um, off market, you know. We like to talk directly to sellers and see how we can potentially buy directly from them, and that's why, well, we're here on the phone now.

Um, do you know what this buyer is too?

Oh, okay. Do you know if they're purchasing the property exactly, or are they planning on selling it off to another person?

I have no idea what they are going to do with the property once they buy it from me, and I really don't care.

Okay, well, that's good. Um, are you set on a closing date already? Is everything else going that way?

No, I— no, I just told you that they're supposed to contact me again first week in January because we have not come to an agreement on price yet.

Okay, I mean, is there maybe a way where I can give you a price and see if we can agree on something? Or are you stuck on working with them?

How much would you offer me for it?

Well, I'm not sure yet, obviously. I don't know much about the property yet. I wouldn't want to give you a bad offer. What are the other people wanting to offer you? Maybe we can do a little bit higher.

If you know anything about real estate. You know that cannot be told.

Well, are you working with a real estate agent or are you working with another investor?

Guess what? I am a real estate agent.

Okay, are you the one brokering the deal?

I am.

Oh, okay. I own it. Well, then it's not a lease listing agreement unless the property is listed on the market. That's what I was asking. Maybe if we could offer a little bit more than they have and get the deal done.

Well, I don't know. You just have to give me a price because I won't tell you what they're offering.

Okay, well, that's not a problem. Do you know how much you want to get for the property?

I would like to have $45,000 for it.

$45,000. Okay. Um, is it now a good time to ask you some questions about the house, or are you busy now?

Uh, no, you can ask me anything you want to.

Perfect. Well, if you could give me a small walkthrough of the house, just let me know what it looks like, what needs to be fixed, what doesn't need to be fixed, a little bit about that. That way I know what I'm offering on.

Why don't I just tell you what I have done?

Perfect.

The bathroom has— it's all finished out. Paid $1,200 for plumbing in the bathroom and a new floor, new commode. Most of the sheetrock has either been removed, it's been re-mudded where we were going to paint it. There's a new floor for the laundry room. We had to fix it up a lot because the last tenant that was in there tore it up a lot.

Okay.

It's under a pest control policy right now that whoever buys it could have the remaining of the year.

Okay.

I spent a lot of money on it. I have a lot of material. That I have charged the loans about $4,000 to finish out some of the other. So, and I still have a loan on this property. I've owned it a long time, but I've never had a desire to pay it off.

Of course.

Rental property. So I owe $19,000 and something and everything that I've just told you I'd like to recoup and I want to make some money on it.

100%, as you should. So you currently have a tenant in there, is that right?

I don't have one in there right now. There's a guy standing over there that's a friend of the family. He owns the black camper. If you drove by it, okay, you saw the black camper.

Okay. And why don't— I mean, this is just off the top of my head— why don't you plan on keeping it and just still renting it out, getting that monthly income?

Well, that's what I almost did, but then I decided against it because I'm maybe getting ready to get a real estate pretty soon.

Okay.

Or whatever. To do with my life. And I just— I also own a condo up close to the racetrack, and I own the house I'm living in. So, uh, I just— I haven't— I just decided I don't want to fool with rentals anymore.

Gotcha. Yeah, I mean, we're kind of on opposite sides of the spectrum here. I'm trying to get more into it and you're trying to get out. Yep.

What that— you know what, that's what they call a buyer and seller market.

Exactly. You got that right. Hey, you're the agent, not me.

So, yeah, I've been a real estate agent for 30 years.

Oh wow, you have some experience under your belt then. I was going to ask you, from 1 to 10, where would you classify the condition of the property?

Oh, probably about a 5.

Okay, a 5. And you said you wanted that $45,000. Is there a certain time frame and when you want to close? Because I know you said you're waiting on them to come back to you on January.

No, I don't have a timeframe to close. I probably could work with that.

Okay.

For a closing. I mean, I'm usually, even as an agent for somebody else's property, once I get a property on contract, I'm not concerned about when it closes.

Okay. Well, when would you like to close?

Well, probably not before Christmas unless somebody was just going to give me that amount of money and they were hankering to close. I guess I could.

Okay. Perfect.

So if you bought it, when would you want to close on it?

Well, we like to close under— I would say our average is 14 to 17 days, but obviously we're pretty flexible with that. If you want to do it sooner or if you want to do it later, that's up to you. That's where we provide our value. Um, but yeah, I mean, if you're fine with closing between maybe 30 to 40 days, we can also do that.

Well, now it's only the middle of November. I mean, I'm not saying that I couldn't close in 30 days because of everything else being equal, I probably could close in 30 days.

Okay. Is there anything in the property that you'd want to take out before the closing date?

No, no. Whatever's in there. If you give me what I'm asking for, whatever materials are in there, we'll just leave them.

Okay. That sounds like a good deal to me. Let me go ahead and get back to my team with the numbers. I definitely want to see if we can get you that $45,000, maybe a little more, you know, and see what we can do. When is a good time for me to call you back with that offer and maybe a couple more questions that my team might have?

Maybe about any time. I mean, this is my cell phone. I usually answer it whenever it rings.

Gotcha. When is a good time for you? Like what time where it's like, okay, you know, I can answer the phone now. It's not a bothersome time?

Well, what I'm just saying, I get up about 6 o'clock every morning and I answer my phone all the way up to 12 or 1 o'clock at night.

Gotcha. Early riser, late to bed. So anytime afternoon would work for you, right?

That's right.

Perfect.

If I don't, if I don't answer it, it's because I'm on the phone with somebody else or got somebody with me or something like that. But if I'm not working, with someone or at a closing or whatever, I answer my phone.

100%.

And then I'll return phone calls as well.

Perfect. So I'll go ahead and talk to my team about this. I'll see how quickly I can do it. If anything, we'll do Monday since I don't really like to call people on Sunday. We'll do Monday afternoon. Does that work for you?

Yeah, that'll be fine.

Perfect. Thank you so much for your time. I'll go ahead and get working on this and see what we can do.

All right, thank you.

Sounds good. You have a great day. Bye.

Bye-bye.