We Had 2 Days to Close This $84,000 Deal… or Lose It

Hey guys, we're hopping right now into Nathan Payne's Wholesaling Sister Real Estate Story Time where I tell you guys about my journey, how I got started. And you see right, right before this video that, you know, you got to make calls. You win some, you lose some, but you do your best and you try to serve people and you give them a win-win. So guys, let's talk about this story time. I just told you that in my last episode I had gone from $96,000 in 6 months to freaking $0, and I had spent all my money on marketing, didn't get deals, and I was clawing my way back out. I had gotten credit cards, I put $30,000 in working, spend on credit cards, which I do not recommend. There's a better way, the painless flipping way, but I didn't know at that time. So I put all this money on credit cards, started paying for pay-per-click, cold calling, and guess what? Today we're going to be talking about an $84,000 deal that I did for my first pay-per-click lead when I was using pay-per-click service at that time. $84,000, and the story is nuts. The story is crazy. I would not have been able to do this deal if I did not know how to network and leverage relationships I have. So let's dive right into this deal of an $84,000 deal for my first deal from pay-per-click. Thank goodness I got this deal. By the way, it was an $84,000 deal, but we split it with another wholesaler that helped us do the deal, that listed it because we were new. And so we got like $42,000, like, I don't know, with some, maybe some fees, it might have been like a $38,400 check, whatever. It was a lot of money, and it got us all paid up. We paid off the $30,000 credit card debt. We rolled the dice and it worked, but I don't recommend it all the time because what got us to $0 was marketing spend in the first place. So there's a better way to do it. Let's dive into this deal. So we put all this money on a credit card, And we started getting leads. We started getting pay-per-click leads. And, you know, we get this call from this guy, okay? He's in northern Salt Lake City, like up— well, if you guys aren't familiar with Utah, it doesn't really matter. But anyway, he's up north. And so me and Corey get in the car and we drive out to the appointment. Okay? We didn't really vet it too much. We were just like, hey, let's just go on an appointment. Let's see how we can get it done. And we show up and it's some older gentleman, like maybe 55, 60 years old, welcomes us in and he sits us down at his table. And I see on his table he has a We Buy Ugly Houses folder, like a nice little folder. Like they had folders back then. I didn't have a folder. That was, that was cool when I saw it. And he's just like, yeah, trying to sell my house. And I'm like, oh, okay, cool. I see that you have a We Buy Ugly Houses folder on your table. They must have just came by. He's like, yep, they came by. And I was like, well, what did they offer you, sir? And he's like, they offered me like $180,000. And I'm like, okay, interesting. Well, tell, can you tell us a little bit about your situation? I didn't jump in and just be like, hey, if we can beat that, are you good to go? I wanted to know what's going on. So he sits there and he's like, guys, I I got to sell my house in 2 days. And I'm like, 2 days? I was brand new. I didn't know, like, even now it's like 2 days, that's short. So I was like, oh my gosh, 2 days, that's a— that's pretty short, it's pretty quick. What's going on? He's like, look, I'm a little behind on my bills and my uncle just passed away in Texas and he's leaving me and my family $1 million. And I'm like, wow, $1 million, you're inheriting that money? He says, the only way I can get that money is if I fly out there to his funeral with my family and I get there in time, and I don't have any money to out there. And I'm like, well, can you sell some? I'm trying to give him other options. I don't want him to sell his house if he's, you know, I've always kind of like, let's win-win, right? So like, hey, can you sell your cars? Can you do this? Can you do that? He's like, I can't come up with the money. I can't, no one will lend it to me, blah, blah, blah. And he's like, and I also need to sell anyway. I'm a little behind my bills and I just need to sell and I'm going to get that million when I get there. I just need to sell. So me and Corey are like, you know, that's crazy. We look at the house. The house is not that in that bad a condition. It's not in terrible shape. So me and him are, me and Corey looking at each other like, you know, the, we buy ugly guys' houses. Guy said $180,000, and this is a decent house. That's like a deal at $180,000. You know, the house retail, like if you listed it, probably would sell for like $280,000 if you just cleaned it up a little bit. So we had 2 days. We didn't know you could do a deal in 2 days. And we're like, man, 2 days. This was us the whole time. We're like, wow, 2 days. That's pretty short. Like, I don't know if we can get that done for you, sir. That's a really short amount of time. He's like, I need it done, boys. So we're like, well, look, like if we can do $180,000 or like $181,000, would you go with us if we can make it happen? And he's like, Yeah, I go with you and forget we buy ugly houses. I'll go with you guys. So I get out. I say, let me step outside. Let me call some people and see if we can even get it done. So we call another wholesaler that we've been networking with who has been in the game and done more, a lot more deals than we had at that time. We were only 6 months in and we're like, hey guys, we got this deal and the guy wants to close in 2 days. I don't even know if you can do that. And the guy, Brian, on the phone tells me, yeah, yeah, we can do that. Well, but you got to tell me what the deal is. So I said, the deal's, I think the ARV is like $280,000 and he's asking for like $181,000. And they're like, yeah, Yeah, let's do it. We can, we can get it done. Knowing what I know now, I would have just closed on it myself. I would have just got a hard money loan, flipped it, listed it, bought it. But I didn't know how to do that when I first started. So I was like, I need your guys' help. So they got 50% of the deal just because they knew they had the knowledge and I did not have the knowledge. And they weren't like, hey, Nate, you just buy it yourself and there you go. They're like, yeah, let's do it. You're leveraging, you're asking me questions and we'll get it done. So we go back inside, we're like, all right, we can do it. We can get you, we can close by Friday. It was on Wednesday and he needed to close by Friday. We signed the paperwork, 181. We send the paperwork work to our guys. They did everything. I didn't know at that time, like, what they were doing, but they got the hard money loan, the hard money loan got everything. We went through title, and they went to the house, you know, signed additional paperwork with him if they needed to. I don't know if they went and signed additional paperwork, to be honest, but I know they met with the seller just to verify because he wanted to stay in the home a couple days after we got back from the funeral just to get— move everything out. So they gave him a couple more because 2 days to move out would be too fast. So, um, they meet with them and they close on it, and it got done. And I'm like, whoa, that's freaking nuts, you guys! I didn't know we could close in 2 days. And they're like, yeah, guys, they had hard money lenders, and I have hard money lenders now that can close in like a day, right? Like if it's a deal, you can get it done. You can speed up title, you can speed up all that depending on the deal. And if it doesn't have many, many issues, but anyway, they got it done. So me and Corey are like, woo, that was nuts. Pay-per-click, it works. We just made a fat deal, paid off our debt, you know, and feeling really good. Now we didn't get paid on that deal. They listed it on the MLS after they cleaned it out. That took about a month and then it took about a month for it to fund and close and sell on the MLS. And they ended up selling it for $280,000, you know, minus commissions because they had listed it and everything like that because it cost— I think we both took home around like $40,000. Now that took 2 months, but we were stoked. And by that time we had done more deals, which we'll leave for another wholesaling real estate story time. I'll tell you some other deals that we did. But, you know, I never heard back from that guy. I didn't call him and say, hey, did you get your money? I hope he got his money. Look, either way, he wanted to sell. He was in pre-foreclosure. So whether that he was on the pre-foreclosure list, he was behind on his payments. So whether that story is real not. And he told us that he sold. I don't think someone makes up, hey, I'm going to inherit all that money and I need to sell ASAP so I can buy plane tickets. So anyway, sold. Hope he inherited the money. Pray for that he inherited the money and he's living in a freaking nice little mansion somewhere in the Midwest or wherever he wants to live. Maybe even Utah. Still, unfortunately, you're not buying a mansion in Utah with a million dollars. Good luck. Depending where you live, you're buying like a middle, middle-class home with a million dollars. But anyway, but that was 5 years ago, guys, so maybe bought something dope. Anyway, so that, that is the story of how with last episode and now how we rolled the dice and it paid off. Uh, we did our $30,000, um, marketing spend on a credit card on Chase and Capital One, paid that ish off, paid it off, and we were rolling. We're off to the races and started doing a lot more deals. Pay-per-click inbound leads is very expensive. It can be very expensive depending on what city you are. So it's not always the best thing to do if you don't have a mate— like, I would say good negotiation skills or ability to negotiate. And we also didn't really dispo all our deals at that point. We were leveraging this other wholesale company and JVing with them. We were focusing on acquisitions and the other, uh, they were dispoing. But anyway guys, that was the story. I hope to see you guys next week as I go live. And this is Nathan Payne's Wholesaling Storytime. Go to painlessflipping.com to learn more. Peace out. Hey everybody, what's up?

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