How to wholesale a deal in 3 phone calls with Batchleads

say for the world. What is going on everybody? This is the weekly Batch Call. This is honestly the first time that me and Nate have been together— Nathan Valley, if you don't know— that been together and done a live on the Batch Call together.

What's going on guys?

What's up guys? So if you don't know who I am, Nathan Payne. I love using Batch and I love showing you guys how to get deals the painless way, but also just get deals in general. Nathan Valley, if you don't know who he is— Nathan, quickly, if you want to tell everybody who they are, who you are.

Yeah, guys, his name's Nathan Valley. Um, you know, Nathan Payne and I, we work together. We do a lot of real estate deals in the Orlando area. Um, used to have a company that I worked with in West Michigan, um, doing a bunch of deals, getting a bunch of contracts, a lot of, a lot of heartbreak. So one thing I do want to throw in there is, guys, what we're going to be showing you in just a few, few seconds here, I cannot stress how important this part of the process is. We're going to be talking about finding cash buyers today. And guys, the reason why cash buyers is so important, most importantly finding them first and building and creating that relationship, is because guys, with wholesaling, one lesson that I had to learn the hard way, the hard way, and it took a while, is painful way, the painful way. Guys, with wholesaling, I don't care how good of a deal you have under contract you don't have a buyer that's ready, able, and willing to pay you for it, you don't make any money. So from a business standpoint, right, when we think about business, guys, what do people always say? Start with the end in mind. So we want to make sure that when we start with the end in mind, it's the cash buyer that's paying us. That's, that's our ideal client. That's the person that we're serving. So that's where we need to start. And, and another really important thing is not all buyers are created equal. Depending on who that buyer is, depending on what they're looking to do with the deal, it's going to depend on what they're able to pay. So you might have a house and you might talk to one buyer and he might say, ah yeah, that this isn't a deal, doesn't work for my numbers, all this stuff. And he might be right for him or her, right? But for another buyer, depending on what they're looking to do, depending what things cost them, and, and depending on how they analyze a deal, it might be the perfect fit for them. And that's the difference between whether you make money Or, you know, you just lost a bunch of money in marketing. So really, really, really, really important to start here first. Can't stress that enough.

Yeah, well, no, that's true. I mean, they say one of the biggest expenses in real estate is just not having a buyer, right? Because you cancel your contract. But anyway, guys, um, if you don't— we're here right now to mastermind, so that's why we're out here when we're in Florida. So just for everybody's watching this, the importance of networking not only with other wholesalers, other real estate individuals, but Buyers is key.

It's key.

So anyway, we're trying to drive that in and we're letting you know that we use Batch to find buyers. So check this out, everybody. And I'm going to let you know about a story of how I just did $7,000 on a deal with no marketing spend, leveraging my buyer in about 3 phone calls. And if you want to take the amount of time I spent on it, maybe 45 minutes. Okay. So if any of you are interested in making $7,000 or anything, anything close to that, less, more, doesn't matter. In little time. This is exactly what we show you using leveraging Batch's information for buyers the painless way. Okay. So first of all, let me show you guys really quick. So on Batch, if you want to find a cash buyer, this is one of the key ways that I do it is I will go to the filter section and I'll filter for cash buyers in a specific area. So what you want is you want to type residential if that's the type of cash buyer you're looking for. You're going to filter it for single-family. If it's single-family, you know, obviously if it's townhomes or anything, you can do that. So this is basically saying, hey, I want cash buyers, uh, I want these type of properties that cash buyers purchase. So that's what the property characteristic stands for. Then what you're going to do is you're going to say what properties are on market. You're going to go yes, and you're going to say within the last 12 months. So it's saying what property, single-family properties are on the MLS. Let me make sure I'm sharing my screen, I think. Okay. So what properties are listed in the MLS within the last, I say 12 months, but it could be just like 9, it doesn't matter, like 7 days, whatever, as long as they're listed and active and that have been flipped by cash buyers, that have been purchased by someone that's bought it for cash within the last year. So just to break it down so everyone understands completely, it's like you got the property that you're looking for, you're saying that it's on the MLS and it was purchased for cash within the last year. So that tells Batch when it does its algorithm, um, or like its filtering, that these are cash buyers. This is a flipper who bought it to flip it and is trying to sell it. Now Potentially there's flippers that take longer than a year, so you could extend it out, but that's usually the filter that works. And if you guys go over here, you can see properties that look like they've been flipped. Now these are just, you know, are pulling up data in PA and just other areas, but if you go and you actually filter it with, you know, specifically like go market, it will tell you. So that's pretty much The very simple, like, it's not very complicated at all. So I want to tell you guys about an experience. And if it gets a little loud, it's because we're outside and, uh, my man, you guys are working on the pool, so it might get a little crazy. But, uh, this is an experience I just had, and I want to show you guys how this full circle goes so you can guys get paid really quick the painless way. So I established a relationship, uh, with one of my buyers. I said, hey, what, how many are you looking for? He's, he's either looking for like up to 5 at a time or 0 at a time depending where he's at. So he's like, I'm looking, I can hold, I can take on 2. He's like, I need 2, I need 2 for my crews. I've asked those questions, I have that relationship, and I found buyers like him through Batch, right? So I say, okay, he's looking for 2. Where are you looking for? My buyers, this guy, he can buy in many places throughout Utah. So you're gonna find buyers that can do multiple counties, multiple areas, but he's just like, dude, just find me the this specific criteria. So I'm like, okay, he's looking for this type of criteria. And we're not going to go too in depth with like criteria, what to ask. We can do that another time. But I knew what he wanted. So a wholesaler— I network with wholesalers in my market, and I called the wholesaler about a deal they had, and I said, hey, um, I know you got this blasted at $425,000. I have an offer that's a little bit lower. How low can you go? And they're like, $400,000 is the lowest I can go. And I was like, One of my other buyers at this time offered like $383,000, so way lower. But they're like, "Hey, it doesn't work." And I was like, "No worries. Let's continue to do this. Let me know if you have any deals you need help moving." 3 days later after I made that phone call— and by the way, this wholesaler I networked with, we're not best friends. This is just someone I've made contact with. They texted me and said, "Look, we are probably going to flip this thing at $400,000 what we have it under contract for, but we don't really want to. Can you try to just asking some of your buyers if they would take it just for a little bit more. I was like, okay, so you guys are flexible. They're like, yeah, we're gonna buy it at $400,000 and we blasted $425,000, nobody bought it in between then, but please help us. So I was like, okay. So I texted one buyer, the guy that's looking for two deals, texted one buyer, said, hey, take a look at this deal. He looks at it, he's like, I want it. Okay, and when I sent him that text, I said, hey, this is the situation, They have it under contract for $400,000. They're about to flip it. They don't want to. Obviously, if you take it, you got— we're going to have to get a wholesale fee for me and for them, right? And he's like, okay. So he's like, well, what do you want? And then we just negotiated. I was like, $407,000, because $400,000 is already kind of tight on this deal, but he liked it. So he's like, yeah, I can do $407,000. So it took me one text with explaining the situation, calling the wholesaler, in like a couple, like I said, 3 calls on here. It might be less. Um, why, why would I say it might be less? It's, it's 3. Okay, so then we just had a communication and that's it. I was done. I just connected them to the wholesaler. I don't care if they know— they actually knew this buyer, so they're like, oh, we've worked with Scott many times. It's like, great, but why did it work for me? It's because the relationship. They, they blasted this Guys, they blasted this deal out to a buyer's list of about 10,000, 15,000 people. Like, they have the same buyers as I do, because I know this wholesaler's operation. But that didn't mean they got the deal done.

Yeah, and how much did you spend on marketing to find the deal? Zero, right? Didn't have to do any cold calling, didn't have to send out any direct mail. And the only reason why that's even possible is because he started with the buyer. He had the relationship with the buyer. So now he's able to leverage other people's hard work with putting those deals together and be able to help them out in a big way, right? Because relationships, especially in today's market now more than anything, I believe so strongly that, guys, it's people with the relationships that are getting deals done. And like I said, let me know what your experience is, but in my experience, and I bet yours has been similar to this, when we talk to these cash buyers, these investors, Now more than ever, when you talk to them, it's not difficult for them to get on everyone's list, right? People are searching them out. People are finding their emails all over the internet, on Facebook, and just adding them to their lists without them knowing it, guys. So their email box and inboxes, they're being inundated with tons and tons and tons of emails on these deals and properties and, you know, for stuff countrywide, you know, where they're not even interested, and for people they don't even know. And guys, they're like, "Look, my email just overflows with stuff from wholesalers, and most of it's not even a good deal. I don't know who they are, blah, blah, blah." When you're able to reach out because you have a personal relationship with them, you're able to put deals together that nobody else can.

Right?

And so what that does is that opens up so many opportunities for you to be able to make money. And the best part is you're able to do it in a way to where, guys, this is so important with wholesaling, not just what the assignment fee was or gross profit, but net profit, right? So without having any overhead, without any marketing costs, guys, this is net, net, net into your pocket.

You got a cell phone bill, bro. You gotta pay for your cell phone, whatever the cell phone is, right?

And whatever— and as far as the cost for finding these buyers, guys, with Batch, it's, it's not a lot of money, right? When we talk about marketing spend, guys, if you're sending out direct mail, all this stuff, guys, that could— you can easily have a $2,000, $3,000, $4,000, $5,000 a month budget, and that's, that's not that big either. Right, so when we're talking about $100, $200 a month and you're able to create these relationships and now you're able to help other people out in the business and you're able to be profitable because of it, man, and then you can take those profits and now you can start to spend that in on your marketing. And man, guys, I can go down a whole rabbit hole, but forever.

And, but I'll just wrap it up because I, you know, we don't want to take for— we're not saying you do forever, but we have I want to let you guys know that the thing is, like, this strategy, whether you're brand new or you're an experienced investor, is something you should all implement. The problem with the experienced investors, they're getting so many deals that they're just like, "We don't have time to make all those specific calls on those deals. We got a lot to work on." It's like a niche. It's something that you guys can do. Get good at those buyers. Again, I'm going to show you. Use the filters I just showed you on Batch and go develop relationships with agents, that have buyers, agents, you can network with agents or go directly to the cash buyer. Sometimes I wanna elaborate and go deeper on it. There's really not much else to go and to show you guys on filters and all that stuff. You get the people. Now the conversation is something you gotta practice. And we can go over that maybe on next week's call or diving in.

What I will do though is I'll just throw real quick for you guys, what does that conversation look like? Guys, number one thing, don't overthink it. Don't overthink it, and we want to be as specific as possible, right? So when I call them or, or I text them and I reach out, what I— I'm always trying to get on the phone. So even if I send them a text first, it's to get them on the phone. We always want to get on the phone. Why is that?

Why do you want to get on the phone?

So I'm not able to create a relationship just through text message, right? So when I'm able to get on the phone with them, that's where I might be—

AI, it might be not even a real person, right?

Nowadays you never know. So we really want to make sure we get on the phone, we can build that rapport, build that relationship, because that's what the most important thing is. And guys, that conversation It's as simple as, hey, I saw you were buying properties that look like some fix and flips, and you can give the example of the property that Batch gives you and say, hey, are you still looking to buy more deals in the area? Super simple. Hey, are you looking to still buy more deals in the area? And then from there, you get to ask more questions. Hey, what is it you're looking for? What type of deals? What type of profit margin do you look for? What type of rehabs do you do? What is a— for a light rehab, what's a light rehab for you? What does a light rehab cost you? Okay. Do you typically use hard money? Do you use bank money? Do you use your own personal, you know, cash on hand? Right.

Do you use—

what's your closing cost? What are your holding costs typically? We want to get as specific as possible so that we're able to get all these details. And it makes it really easy for you to figure out when you're looking at a deal, right? Oh, I know exactly what my buyer is able to pay. And it makes it really simple. And now when I reach out to my buyer, I'm only reaching out with stuff that fits his exact criteria.

Love it.

So yeah, you nailed it. That helps, guys.

You nailed it. So for any of you that are like, where do I start? Where do I start with wholesaling? Or where do I start as a real estate investor? There's no better way to start than with the person, the end in mind, right? The person that's actually going to buy the deal. If you just go out and call and you have no idea what price to offer, if you could even close, where the location is, then you know you're kind of fighting an uphill battle. But if you start with the buyer that knows it's going to buy it, you You reach out to the agent, that wholesaler, you try to structure, bring the deal, and you can leverage, you know, they're going to tell you, hey, I can do it or I can't, or this is where my offer is. So it's just a good way to start. And I believe it's, again, it's a strategy that should be used for experienced and new investors. Everybody should be doing it. So anyway, I think we got one more question because we are— this is live, everybody. So do you think high interest rates will affect all markets or so? Or some? This relative to doing all cash deals.

Can I answer? So, uh, amazing question. I, I used to be really curious about this question, especially when I was newer and just getting started, and it took me a little while to, to kind of learn. And I apologize, it's probably not going to be the answer you're looking for, but with wholesaling, the beautiful thing— if that's what we're talking about— the beautiful thing with wholesaling is, guys, we're just the middleman. So, you know, whether interest rates go up, they go down, no matter what the market does, there's always, always investors that are looking for deals. There are always people that are buying. Now, depending on what's going on in the market, sometimes there's more of those buyers, sometimes there's less. Either way, I want to find out who's buying right now, what is it they need to buy things at, and then from there I go out and find the deals, right? And I bring it to them. So that, um, I hope that answers your question, Lenny, as far as interest rates, will it affect the markets? In some way, shape, or form, yes. But as a wholesaler, it really doesn't impact you. The only thing that's going to change is what your buyer's criteria is and what you're then going to adjust the, the price, the offer you're making to the seller, to the seller or the agent or whoever.

That's the only thing that's going to change is what price you're offering. One of my great mentors said, as long as people need a place to live, you'll— we'll be fine. We'll always have a job. And that's true. As long as, as long as people need to live somewhere, and they always will. So everybody just understand Take action. Like, this is not something to be afraid of. Obviously, a lot of people that haven't done it, they get a little like, "Oh man, I'm a little nervous." Do it. I promise you that as you do it, you're going to get better and better at it. And network. That's what we're telling you. We're telling you to network with buyers, network with people at local meetups, from title companies, using batch leads, call. And that's exactly what me and Nate, we're right here at a networking event. Networking is huge. And when I first started, I was like, I forget everybody. I don't want to network. Everyone's trying to steal my deals. And I had a scarcity mentality. You got to flip that. If you realize you have that, flip it to abundance because there's more deals than you guys can even imagine that are out there available for you guys to do deals. One more question. Should we take? Yeah, yeah.

Let's go for it.

How do you determine your wholesale fee? Do you get more or less depending on the equity?

Yeah, great question. I'm just jumping in here. My brother. So great question. So the way I handle it is, and again, when we start with the buyer, we find out exactly what their criteria is. So when I'm looking at a deal, the number one thing is it's really important that I want to do my homework. I want to do that upfront legwork before I reach out to my buyer. So I'm going to want to talk to that seller or talk to that agent, and I'm going to want to figure out, you know, talk, negotiate, and see, hey, what, what's the lowest, um, except, you know, what, what's the lowest offer that they'd be willing to accept? And then from there, if I'm like, okay, They'd be willing to, you know, based on the conversation, I think they'd accept an offer at $200,000, right? And then I would look at my buyer's criteria and be like, oh, based on my buyer's criteria, I think my buyer would be able to pay $220,000, right? So right there, you know, I would reach out to my buyer and say, hey buyer, I've got this property on 123 Main Street. I think I can get it for you for $220,000. Are you interested? Would that work for you, right? And then my buyer can let me know, oh no, I got to be a little bit lower, or yeah, that works for me, great deal.

The— can I say something really quick? Yeah, please. Yeah, so Nate knows the criteria, knows that there's, there's room on this deal. With the deal that I did, I knew it was tight. So instead of me kind of being like, hey, can you do 410, 407, I was just like, hey, this is the situation, which got him to respond very quickly. Not that he doesn't respond, but he's a busy guy. He responded. Then I was like, you know, it's tight, but we got to get paid. He's like, what do you want to get paid? So there are different options on how to determine your wholesale fee. If you got a big spread, mainly if you got a big spread, just lock it up. You just get it, get it under contract yourself. But if you don't, just be like, if you, if it's kind of tight, just be like, hey, this is a situation. What would you pay? Whether it's a seller, wholesaler, agent, it's the same process.

And the most important thing I hope you guys got from, from what we both just said, two different scenarios. But the one thing that's true for both of them, neither one of those things could happen if I just sent them an email. Right. Neither in either one of those scenarios, the deal wouldn't be getting done. So that's why it's so important to have that relationship and to get on the phone and be able to make these deals happen. So I hope that's helpful for you guys.

Yeah. Yeah, guys, we'd love to answer more questions, but we, we got to run back this, you know, they're about to start. So hope that makes sense for everybody. Again, we're going to show you— I'm going to show you before because this is the batch call. We appreciate them for giving us their ability to kind of teach you guys and show us what we know. Hit the filters, network with people in the area that you're looking for, and go get deals. Like, uh, don't, don't, don't overthink it. There's nothing to overthink, and, uh, taking action will teach you how to get it done. So Nathan, do you have anything you want to say before we dip?

Man, that's it. Had a lot of fun with you guys today. If, um, if you guys want to learn a little bit more about how we do real estate— I know there's some additional questions, guys— we do a free, uh, live, uh, masterclass. We're doing one tonight, right? Tomorrow.

Today starts Wednesday.

All right, all right, tomorrow. Days are all mixed up. So tomorrow, Thursday evening, we're doing a free master class, guys. It's totally free to sign up. It's not partially free, it's totally free, and we have nothing to sell you on it. And we go from A to Z. It's about 60 to 90 minutes. And guys, we, we go from, from point A to point Z, everything that we do in, in our business, how we work everything. And I promise, any questions that you have about some of the stuff that we're talking about We'll be able to answer them there for you.

And thanks to Batch for letting us come on here. We do talk about how you leverage softwares and the, the tools you need in order to get this done. So Batch, thank you, and we will see you guys next week.

Peace out, take care, guys.