How We Closed a $10K Deal Remotely in 2 Weeks!

What is going on, everybody? This is the Painless Flipping Podcast. I'm here with Joe Durnigan. What is up, brother?

Hey, how you doing, man? Good, man.

Everybody that's listening, me and Joe have been working together. He is a member of my program. We want to talk to you about it today, about a deal that we did. I think, Joe, is that your first deal we did together that we closed on?

Yep.

Well, we're going to dive into the talk about how we got through that strategy. But before we dive into that, Joe, I want, I want to introduce you to Invest to Thrive Nation. I just want you to kind of tell everybody a little bit about who you are, where you're at, and what you're up to, man.

Yeah. Yeah. So I'm Joe Jernigan down in Mobile, Alabama right now. And I actually met Nathan through Jerry Norton, of all places, actually. I met him through that, that circle. So I'd started really getting into real estate last year at the end of last year and then connected with Nathan and just hit it off with him. I love the way that he He was always just giving a lot. And obviously I was looking for a lot of help and information. And so it was a good fit and got connected with him and gave him a call and then just started connecting with him every day.

I love it, man. So yeah, exactly. And now Joe and me just connected. For everybody, sometimes you just vibe with people. You see someone that's a hard worker and you're like, man, I like that guy. And I feel like that's what happened with us. And Joe, we were actually able to do a deal together through someone in that program as well. So we were on a call. Were you on that call that we were with on that person that we did the deal with?

I was on a call. I don't remember. It was on a call, but I don't remember who it was. I remember being on the call and that's how this deal came about. I was on a call, one of your calls.

Yeah. So everybody just listen. So I've always got my ear to the ground looking for opportunities because that's honestly one of the best ways to do deals, especially without having to pay for leads or spend money on marketing. So what happened is I was on a call, I think it was on a coaching call, and one of the students had a deal and they said this. They were like, "Hey, I'm "I got this deal. Should I cancel it?" And she was talking about how it was a good deal, but she just couldn't find a buyer. It was kind of tricky. And I said, "Whoa, whoa, whoa. Don't cancel it yet. The numbers, everything you're saying makes sense. Maybe you just haven't been able to figure it out," because she was newer. So I asked her to send me the information of the deal, and the house ARV was like $250,000, $300,000, and she had it under contract for like $120,000, $130,000 for pretty much what the seller owed. So the seller was actually in pre-foreclosure and was going to lose the house. And she wasn't able to find someone in time, so she was going to cancel it. So I said, "Don't cancel it." I looked at it. I said it was a deal. I said, "Just talk to the seller. Give us a little bit more time. We'll be able to find a buyer." So then, Joe, I reached out to you and I said, "Hey, Joe, this is a good deal. Go find a buyer and we can JV with this student. We can JV with this girl." So do you remember kind of how that went, Joe?

Yeah, 100%. Yeah, I remember being on the call then, actually, all that taking place. And then, yeah, you just said, "Hey, anybody who wants to find a buyer for this, I'll split it with you." Right.

And this was in Richmond, Virginia. So this was in an area that is pretty dang populated and it has a lot— actually, Joe, I've never done a deal in Richmond, Virginia before. That's why I was like, "Hey, let's work together on it." Dude, when we were calling, because I was calling too, I was looking for buyers, this place was hot, man. I feel like everyone I talked to was looking, raring to go. It didn't seem like the market really had any slowdown in that area when we were doing this deal. No, it didn't. I feel like the markets were slowing down a little bit at that time.

Yeah, definitely seemed like everybody I talked to same way. Everybody was— I I got a lot of hits and a lot of feedback right away within just probably really in a couple hours in that afternoon. Yeah.

So Joe, kind of explain to everyone, how did you find the buyer for this deal? Well, first of all, before we get into that, I didn't even really put this deal under contract, do a JV agreement with the student. I just said, "Hey, we'll find somebody." We didn't really worry about locking them up. A lot of people do that, but we're like, "Hey, we'll just find somebody." So you started looking, I started looking, and yeah, tell me about how you found this buyer that we eventually used.

Okay. So basically I, what I always did is I always just hopped on, used Privy, and I use a combination of Privy, Batch Leads, and Redfin. And this one I was using Privy because it just kind of been on where I was looking at which worked better. But anyway, I just, I had like a free trial with Privy. I just signed up for it anyway. So I said, let me go through this. And I literally just basically drew a square, I forget, like a half mile circle or something around it, looking, that pulled up all the other homes that looked like it had been rehabbed in that area. And just went through and started calling all those agents, reaching out to them saying, "Hey, would you be interested? Would your buyer be interested in another deal?" And I had probably half a dozen out of that call list that were like, "Yeah, definitely would." Went back and forth, ended up I think really only getting, after a couple of days of going back and forth for a week or so, really only get 1 or 2 that legitimately had people. I think we had maybe 2 or 3 people actually go by and take a look at it. But it was actually, like I said, literally from the time I got off the call with you, it was within a few hours after that that I was already getting hits on it. People were responding. A real hot area. And Privy made it super easy. Redfin made it super easy. It was just literally, you just draw the half-mile circle and then you just start calling people. And it was simple. I guess I shouldn't say easy, but it was simple.

Right, right, right. So the key for me is like, okay, you have to find that opportunity, whether you're going to make that opportunity yourself where you're finding it on the MLS. Or you're doing off-market, or you have someone that has a deal and they're not as— I don't want to say as savvy, but they just don't know the strategy of what you did, right? They're like, they call or maybe they try a couple. But what we do is a lot of the time is we just go to the area, we call agents, and those agents that have active listings, we ask them if their buyers want any more properties. And usually these agents are active and they have the relationships, so they're able to ask especially in a market where you don't have relationships. Like, this was in Richmond, Virginia. I've never been there. I've actually never even been to Richmond, Virginia.

Have you? No.

No. Yeah. So, it's pretty cool that the fact that you in Mobile, you're in Mobile at that time, right?

Yeah.

Yeah. You're in Mobile, I'm in Salt Lake. We can call around and just say, "Hey, agents, do you have any of the buyers that you are representing at the moment, are they looking for anything else?" And that's exactly what happened. So, this deal was actually pretty, it was a pretty interesting deal because after you found the buyer,— it was like a little roller coaster, right? Because you thought and I thought, okay, it wasn't going to work out because the seller, when it came time to close, the seller was like, I'm not moving out. And the reason why the seller didn't want to move out is because there was honestly really no incentive for the seller to move out in their mind because they're like, I'm going to lose the house. I'm selling this house for what do I owe? So it's like, why would I get out of here? I can just stay here another 90 days. And just at least have free rent, right? That's at least the way they saw it in their mind, which is unfortunate. But that's a lot of the time, a lot of people, they just drag their feet when they're about to lose their house and they got nowhere to go. So the buyer, the agent that was representing the buyer, they were going back and forth, and the buyer really was like, I really want this house. I need them to get out. So the buyer, the cool thing about this point is we just connected the agent to the deal and to the seller, sorry, the wholesaler that actually had the deal. And we kind of just chilled. We chilled and let the buyer that was actually buying it and the agent take took care of everything. They talked to the seller, they took care of everything. And eventually I just hit you up and I was like, "Hey Joe, the deal closed, man." And just like that. And that's kind of the cool thing is like once you have those relationships built and you connect people, you kind of just got to wait. There's not much you could have done or I could have done, but the deal did close because the buyer took it the rest of the way. And it was kind of a cool experience. I don't know when I told you if the deal closed, if you were like shocked or not, but I was honestly kind of shocked that the deal, the buyer actually took it all the way. You know what I'm saying?

Yeah, no, I definitely was.

Yeah, for sure. And it ended up being a $10,000 deal that we split with the other student, the wholesaler. Me and Joe, me and you split our 5, and then they got 5. So $5K, we both got $2,500. Nothing crazy, right? But it is a cool test, or I guess experience, to be like, okay, look, she was about to lose the deal, and all we had to do is make a couple calls and connect to the right people. And we got the deal done, right?

Right.

Yep. So basically for everybody that's listening, I just wanted to bring Joe on here and talk about his experience, but also tell everyone that if you want to do deals painlessly, in my opinion, if you want to do deals that don't require a lot of you having to go out and find the buyers, sorry, the sellers and negotiate, I would be vocal about the buyers that you do have. Be vocal about where you're looking for deals. And if you see anybody that has deals in those areas, just be like, "Hey, is it cool if I send my buyers?" that I know to make offers on those properties. So Joe, if you were to go back and work in Richmond, I would just be like, okay, call this agent again, be like, hey, what is your guy looking for? And just stay on the MLS, stay looking for properties, and anything that meets their buy box criteria, I would do that. Because if you have limited time to do real estate, then you don't have that much time to negotiate and find a lot of those deals. That's like a majority, in my opinion, of what takes like everybody's time is like finding the opportunity, right? So if you leverage other people that already have it, whether it's on the market or other wholesalers, I think that cuts the time in half, you know? So anyway, so Joe, you're out here, man.

You just had a kid, right? Yes. Yep, you just had baby number 4, bro.

And, and I just had a kid. So everybody, the reason again why we're talking about this is it does take a lot of time to kind of get in the game and, you know, figure this stuff out. But again, if you can develop those relationships with your top buyers in the area and you can figure out what they want and you see those opportunities that come across and you can just kind of connect people, that I think is the most effective and efficient way to get it done. So Joe's a little testament of that. We both did it together with, I would say, Joe, minimal effort, I guess, on— it was like 2 weeks that you did it, right? And then got paid later on.

Right, yeah, yeah. I mean, it was, yeah, like you said, it was really minimal effort. I mean, it was a couple hours that first day calling, and then from there it was basically just text every now and then. I mean, a few texts each week, and then for like a month didn't hear anything, and then it closed. So yeah, like I said, it was very, very minimal for us.

Exactly. So that's my advice to everybody here.

Check it out.

We were able to do a deal together, minimal effort. Uh, but the, the key is finding the opportunities. And how do you find those opportunities? Well, you got to know what to look for, right? Because if not, then you're freaking scrambling all over. So that, everybody, uh, if you're interested in learning more Check out painlessflipping.com, and we have a masterclass where we kind of teach this strategy a little bit more in depth. Hit up Joe if you're in Mobile, if you want to just chat. Joe, do you have any golden nuggets, or do you have anything you want to leave everybody with that can not only help them in real estate, but just in life? Do you have any words of wisdom you want to drop on everybody?

Yeah, I mean, part of it is just kind of like a plug for you. I mean, just everything you did for me was huge, and having that relationship, you talk about leverage, I mean, The whole reason that even happened is because from day one I got that mentorship with you and just had so much access to you and help and guidance. So anytime I ever needed anything, I had you there to walk along with. But also because of having the calls, that's why that happened, because I was on that call with you. And then you're always looking to share, to give, to connect. So you immediately turn around, hey, because I think it was me and one other guy on the call, and you're like, hey, if either one of y'all want to find a buyer, I'll split it. So again, just leveraging that you already had a deal.. So all I had to do was just spend a couple hours searching. So like you said, put yourself in the right people, around the right people, around the right places. And then for me, probably the biggest focus in this last year, which we— people like you and a handful of other ones is really finding the people that you need in your life that have done what you're trying to do, that can lead you, that can guide you, and that you can be around so you can leverage their expertise or you can leverage their skills or their abilities. And when I say leverage, it's in a positive way. I think sometimes people take that negatively, but it's in a positive way. It's saying like you are much more skilled and you're an expert in what you do. So it benefits me to be around you, you know, and if I can, like you said, I don't right now having 4 babies, I don't necessarily have the time. So if I can pay to be closer to you and build a relationship and a friendship that's going to take me the rest of my life or take me to where I'm going, you know, that's, it's huge. You know, you can trade that. So anyway, I just definitely would encourage to keep doing it. Don't, don't expect it to be a one, one and done. You know, it's a lifelong thing. Once you start, once you make the first investment into yourself or somebody else into something else, you can't expect a one and done. You've got to just say, you know what, it doesn't matter at this point. It doesn't matter if it's 10 years down the road. I've got to keep investing and I can't turn back until you finally hit that, you know, success, get that outcome.

Bro, that is so true. Like, I was watching a video yesterday. I don't know if you ever see these kind of videos on YouTube. They're like, oh, I asked a billionaire how they made a billion dollars. Have you ever seen any of those where they ask like super— so there's this one guy, he's like, hey, I manage, like, I help people with real estate deals, and I know there's like 156 billionaires in the world, and I know 96 in my phone, like, because I work with them. And he says like the number one thing that these billionaires all have in common is they make decisions quickly and they don't waste time, right? Because they look at time as, you know, because Jeff Bezos, he was saying that like he makes $2,500 a second or a minute. So like to him, a minute of his time is extremely valuable, right? So we also have to look at, you know, our time. You said you got the 4 babies. You got to look at, okay, what is the most important thing? What is the best use of my time? Yes, you could hop on and cold call and maybe get a $50,000 deal, but is that worth all your time? Is your time best used doing other things? And I know that you've been talking with you and your family about what's the best way to use your time. So anyway, I want to say I agree with you that getting around the right people, taking the shortcuts, leveraging other people's skill sets is the best use of time, I believe, because so you don't have to figure out everything on your own.

Yeah, yeah. Still, they're 10,000 hours, right?

Dude, you got to. And hey, you know, brother, you can leverage me anytime you need because I got your back. Alright, so Invest Tribe Nation, hit up Joe if you need anything. He's the man. Hit me up and I'll check you guys out on the next one. Alright, peace out.