Wholesale Real Estate Cold Calls – The REAL Process Revealed

What is going on, everybody? We are live right here. Nathan Payne, Real Estate Nate, and we got Lane Peterson. What's going on, Lane? How are you doing?

How are you? Good afternoon, Lane Peterson. Good to see you again, Nate.

Always a pleasure to hang out with you, Lane, and call sellers and, and, uh, do deals. So for those of you that don't know who we are, we're just going to do a quick intro because we never know who's watching. My name is Nathan Payne. I've been in the game for about 6 years, done hundreds of deals, love doing real estate. I love helping out sellers. We just did a deal that was an $86,000 deal, and guess what? The seller sent us a text and said thank you. She said, thanks, help me out, helping me through the situation. And nothing feels better, Lane, than making money and also helping people, right? Because money was not what she cared about. She cared about getting the heck out of that house, and we got it done.

It's completely true. We just helped an entire family. You know, there's a death, they had to go through probate. We helped them through the whole process, got the thing. Bakersfield, California, actually. This one was, uh, completely a remote virtual wholesale deal, and our wholesale fee was $50,000. And Lane, The sellers were completely happy, left us a great review. And so it does, it feels great. It feels great to help people and also be able to make a business out of it.

And you know what, Lane, it's interesting because people hear that and they're like, what, you're making all that money and they're happy? These are situations where they did not know what to do, right? I'm sure in that, during that probate situation, they were confused, right?

Yep. Yeah, they were, they were totally confused. They, so we, you know, we hooked them up with our probate attorney and then it, The process was completely— they had some liens on the property, a solar lease that they didn't even know about. So yeah, walked them through the entire process.

Love it.

And they were completely happy with the price that they got. That home needed a complete renovation. It was a gut job. And so they were happy.

You know what's really interesting too, Lane, is sometimes when we make those big, big spreads, it's because we find the right buyer. You know, there's a ton on that deal that we had. Everybody was coming in way, way low. And then we just happened to find that one buyer that fit for. He paid more than everybody else, was happy. Everybody's happy. Anyway, it's crazy like that. That. But yeah, today, guys, what we're going to be doing— the reason why we do these calls— this is called the Wholesaling Real Estate Ring, where we call sellers live, show you guys exactly what it looks like. Because a lot of the time you guys see all these checks that are flashing and you're like, whoa, that's cool, but you know, I don't, I don't know how to do this. Well, we're going to show you guys what it looks like. It's not sexy all the time. It's— we're literally calling people, having conversations with them, and sometimes they don't answer. So we're gonna hop right into it. Lane, anything you got to say to that?

No, that's right. I mean, we, we dial, we dial. And what's great— I mean, I say this every week— but these leads that we're calling are inbound leads, right? There's a difference between inbound and outbound leads. These people have reached out to us. We do a lot of marketing, you know, PPC, Facebook ads. They have found us, they filled out a form and, you know, submitted their information. So it's a very warm lead. Outbound leads is cold calling, text messaging. And those aren't, you know, those take a lot more time to nurture and cultivate and take them to the closing table. So these are, these are fairly warm leads. So they're, they're a little bit easier phone calls than your cold call leads.

That's right. Well, if you're watching this live, guys, that's our plan and our promises to call. We're about to hop right into it. But if you can, if you're watching this, tell us where you're watching from. We love to network. We're doing deals all over the country. So, you know, maybe we might be able to do something together. Tell us where you're watching from and hit like and subscribe to wherever you're watching because the algorithm, it does put this in front of more people if a lot of people are engaging and they like it. If nobody's liking it, then they're like, this video must suck. So do us a favor, help us out. And Lane, you ready to hit the dial? I got, I got the vibe board, so I'm going to write down and take notes while you're, you're making your calls and we're going to teach some guys.

All right, here we go. All right. We got Daniel here. I usually call from, from my desktop, like straight out of my CRM. But because this call, I do it from my phone, which is in the CRM, but just easier to hear. It's always important to have a great CRM, by the way. If you're going to be calling leads and you're consistently doing it, to keep organized and to have great follow-up is key. And a CRM CRM helps you do that.

That's right. And you like GoHighLevel? You have yours built off of—

remember, I, I switched over to RE-Simply.

Oh, well, that's built off of GoHighLevel as well, but RE-Simply.

Yeah, I was on— actually, I use both. I, I still do have GoHighLevel.

You know what's funny? They call it RE-Simply, but I always say RE-Simply.

Well, yeah, I would just— around the office, we just see Simply now.

Yeah, they always correct me. They're like, nah, it's RE-Simply. I'm like, oh. My bad.

Hello? Hello, Daniel? Yes, Daniel. Hi, my name is Lane Peterson. You were talking to my office earlier today, uh, about the home that you had submitted to us that you were looking for an offer on, and they had scheduled a call back. Is it— is now a good time?

Yeah, it won't take a minute. I'm in the middle of something.

Okay, is it better to call you back, or— I just wanted to get a little bit more information.

Probably in the morning.

Okay, I can call you in the morning. Okay.

Yeah, tomorrow morning.

All right. Okay, after 8:30.

All right, thanks. Bye.

Thank you, Daniel. Yeah. Okay, bye. Well, that's one thing that's, uh, very important, you know. You, you really want to make sure you caught them at a good time, because if they don't have your focus, then you don't have an effective phone call.

Yeah, no, exactly. It's not even worth it to like, well, hey, let me real quick, let me get, you know, more information. No. Okay, I'll call you back.

Yeah, just leave it at that. I mean, even though I kind of want to do it just because we're on this call, but it's tempting to, to try and do that.

Yeah, but no worries. We got Love Live Nick saying, can you guys do fresh sellers that haven't left a message? So, Lane, is he saying like maybe like cold call? Is that what you mean, Love Live Nick? That's what I would say, like maybe cold call somebody.

Everybody has, or everybody has technically left us a message because they filled out a form. So they clicked on our advertisement, they filled out a form, they put in all their information. As far as like, you know, they get a few questions on our web form, you know, as far as property condition, reason for selling, that sort of thing. So they've already reached out to us, which is technically a message.

Yeah, if that's what you mean, uh, Love Live Nick, everyone's kind of filled out a form. If you mean like he hasn't, he hasn't set up a follow-up appointment, you're going to call through some that you haven't even gotten a hold of, they've just filled out a form.

Correct.

Now if you want us to cold call, we have other calls on our YouTube channels where we just call people that don't know we're calling, but you know, you have to check out that.

Let's keep it going, boy. Okay. I'm going to call Miss Anita here in Deming, New Mexico.

All right, Anita, I need a deal. That's what I need. I need a deal.

Hello? Hello, Anita?

Yes, this is—

Hi, Anita, this is Lane. I was calling about your property that you had sent over to us that you were looking to sell.

Yes.

How are you today?

Good, and you?

I'm good. Is now a good time?

Um, sure.

Good. Well, Anita, tell me a little bit about what you got going on here with this house.

Well, uh, I inherited a home and it's on 2 basically acres or whatever. It's got 2 houses on it. One's a garage, um, slash man cave to do work for cars, and another's a home. Home, the 3-bedroom, then 2 fireplaces, 2 bathrooms, big kitchen, dining room, laundry room, and then a carport garage, um, separate garage or whatever, big yard, you know. Yeah, but I basically— it's going into— it's— I just can't do it. The house needs work and everything like that, a little bit of work, um, as far as like just paint and crap like that and stuff. And I can't— I, I can't pay it, you know.

Gotcha.

I mean, uh, I'm sick, I have cancer, so I've been— I just— I can't do it. Like, I'm here right now as we're talking.

Yeah.

And it's just— it's just too much already. I've been— and my father passed away suddenly. So it was like out of nowhere and all my money went to that. I didn't have none of this paperwork ready or anything like that. So here I am stuck with the loan and I kind of— the loan's at $40,000. It's like $39,000.

Okay.

And it's like, basically, like I said, it's two properties. I would rather at this point, it's like either sell it or come up with the reinstatement money.

Gotcha. And do you have a reinstatement loan on the property that needs to be taken care of?

Yeah, that's what it is. I either sell it or reinstate it.

And how much do you have?

I don't have the money to reinstate it. Yeah, I put all my— she means payday is like 6. It's, you know, it's at 8 now, 8 something.

Okay, and how many months behind are you?

Uh, quite a few, quite a few, because the thing is only $438 a month, but because I've been sick and everything, and when I do feel good, I try to get out here, but I just, I can't. I don't have no money coming in to do it no more.

Gotcha. Well, hey, I'm sorry to hear that.

I'm—

I would love to— I'd love to help you. You know, there's, there's a couple ways that we can do this. I can make you a cash offer, which is obviously simple, straight to point. It's, you know, as is. There's, there's also some other ways that we can do this. I'd love to— what type of loan is on the property?

It's a home equity loan.

Okay, gotcha. And you said the payment's $438 a month?

And they told me I couldn't modify it or nothing. Yeah, it's only $438 a month. And the thing is, is that usually wouldn't be a problem, but I can't. I just, I can't do it. I, if I could do it, I would do it, you know? Um, but I can't work or nothing because I'm sick all the time. I can't be around people because I have a low immune system and because of COVID and all that other stuff. I just, it's issue.

Okay. Okay. Well, sorry to hear that. If you were to sell it, do you have another place to go?

Oh, yes. You know, if I sell it, it's to pay off the loan, of course, you know, like some of it. I was hoping to get some so I could— Yeah, I have another place to go.

Okay. Okay.

I'm not just going to sell it and not have no place to go. You know what I mean?

Yeah. Yeah. No, got you. I just want to make sure because a lot of times people don't think that through. Like, hey, I want to sell it, but okay, do you have another place to go? Because when we sell—

Yeah, but they don't think Yeah, no, I do.

Well, good, good. That's good. How about we talk about what is the total amount on the loan owed is what?

It's $39,000.

So you owe $39,000 and that includes the reinstatement?

No, that's not included in the reinstatement. That's part of the loan. It's just to get it up to date. So that's like past due balance, basically.

Okay. So $39,000 plus $8,000.

No, it's only $39,000. So the $8,000 that I have to pay is already out of The $39,000, it's a previous balance for the month that I haven't paid. And then after that, it's whatever's left, you know what I mean?

Gotcha.

Okay. Right now it's at $39,000. Yeah.

So $39,000 total is what's left.

And then after that. Yeah.

Okay, perfect. And how much are you hoping to get on top of the $39,000, you know, at close?

To be honest, I would be happy with just $30,000. You know, $30,000 would be great. I mean, I'll go to $25,000, but it's because I was trying to tell somebody, I was like, it's two properties. It's actually— I don't know what— how my grandpa did it, or my dad and them, but it's two separate properties but put together.

Yeah.

And there's two houses. There's not just one house. So first house, the 530 Hood, is valued at $125,000, it says. But like, this is that— this has the well and the light and everything. And then there's the other property next door that has the house and the garage for mechanics and all that, and that has a pole and everything, but it runs off of this one. And they also using the well water off of this one, you know?

Yeah.

So it's like, I don't know, I would be happy to be honest. I would be happy with 30. I would be content with that. But like, if I could go to 25, I'd be happy too. At this point, I'm just tired and really tired.

Yeah. And if I was to be able—

I don't think I could do it.

If I was— if I was to be— if I could get to that number, when would you want to close?

As soon as possible, to be honest, because it's just the sooner the better of it. I— because I've been doing this for since last year. I've been trying to take care of it, you know, trying to do it and do it, do it. And it just, it's, I'm just tired of it. I can't do it no more. It's a lot of work and I'm all by myself doing it. I don't have nobody to, you know, depend on all the money I did have. Like I said, it went already into that. So I don't have, can't pay nobody. And it's a rural town. I said that good heart, I helped as hard as I could.

Yeah.

Yeah.

No, I understand. So let me just tell you a little bit about how the process works. If I was to be able to get to an agreeable price, what we do is we, we, we, I send you our agreement. We all sign our agreement. Right. And then I'll open escrow with the title company and then, and we'll push it to close. They'll clear title for me, make sure the liens are all paid off, and then when we close, I typically expect the home to be vacant. But there are certain situations where the homeowner needs to close the house to get money in order to move. Is that the situation that you'll be in? No, you'll—

no, that's, uh, no, there's pretty much— the house is vacant already. The house doesn't really have anything in it. The home doesn't.

Oh, so you're not living there?

Where there's stuff No, I come and I come as much as I can, but no, I'm not living here right now.

Gotcha.

Okay. I think I have— my mom has an RV park, and so I still live with my mom.

Okay. So you're ready to go. Okay. That makes sense.

Yeah, yeah, yeah. I mean, it's ready for somebody to just do whatever they want with it, basically. It's got a lot of potential. There's fruit trees, all kinds of things, you know?

Well, I'm just running through some numbers. I'm looking at comps here as we're talking. And Anita, it looks like our number would be right at $60,000 total. So if I take the $60,000 and I minus out your $39,000, that leaves $21,000. Would that be enough to— in order to get this done?

You know what? Yeah, just do it. I'm so tired. I'm just tired. I don't want to do it anymore. Yeah, that's fine. Okay.

I'll do it. So what I'll do, Anita, is— is the house in your name?

No, it's on the successor. It's in my grandpa's name or my grandpa and my dad's name, but it's jointly by either. And then like I said, I had to— people were going to be with the bank to become the successor. Oh, it's up to me, I guess, now or whatever.

Is all of that work done? Is that process taken care of or do you still need to do that?

Yeah, yeah, that's the successor process is taken care of.

Yeah, because what will happen is I will— I'm going to send you a— I'm going to send you a contract with the owner that is on title and you're going to sign it. And then when I send it to the title company, the title company is going to want to see the documentation that you have the power to sign on their behalf because they're passed away. Does that make sense?

Okay. Yeah. Well, yeah. Well, I'm the only legitimate child, that's why. Well, I'm just, I'm just saying that because they get all the paperwork they need. Yeah, I know. I understand what you're saying, but yeah, no, but that's fine.

Okay, perfect.

All right, so what I'll do is I just don't know exactly if they need certain paperwork, but like my birth certificate or the paperwork for the bank.

The title company will tell us, will tell us everything that they need in order to be able to, you know, have clear title with you signing on their behalf. So they'll tell us everything that we need. All right. So I just want to verify your email here. It's, uh, hey@gmail.com?

@gmail.com.

Yes. Okay. So within the hour, you'll have the agreement in your email, just a click of the button. You can sign it. If you have any questions with it, call me. And then once that's executed, we'll send it to the title company and open escrow right away. Okay. That sounds great. Anita.

Awesome.

Hey, we'll get this done and make it as smooth as possible. So. We'll get this off your plate.

Okay. All right. Thank you so much.

Hey, thank you. Talk to you soon. Did we just get a deal? That's—

we just got a deal. Ring the bell, baby.

Hold on.

Let me get the Tom.

Oh yeah, baby.

Oh, we do got a bell.

We got a bell, baby. We got a deal, baby.

Let's go. I mean, we can't— we can't complain about that. Everybody watching, if you— if you noticed the 4 pillars of wholesale, price, condition, motivation, and timeline, right? Those are the 4 pillars of wholesale. And so to get information on all 4 of those things in that phone call is pretty important. Now, my opinion, motivation is the most important one. You want to find that out. Yeah, timeline and time, you know, timing might be their motivation. Condition might be their motivation, you know, a death in the family. And also just be you, you know, to get all this information on these 4 pillars for wholesale. Just make the calls, talk to people, and figure out your style of being comfortable so people can just feel the genuine you. That's what people are attracted to, and that's what they love. If they feel you're genuine and they feel you truly do want to help, then you're going to have a lot of success in this business.

Yeah, it's the speed of trust, right? Like, if they can feel that you have their best interests in mind— and when you— not that you're playing it off— when you really do have their best interests in mind, that's when you skyrocket. Like, when you really genuinely want their success more than you want money, that's when this business becomes really— you do really well. Because I tell every seller, go list the property, you're going to make more money. You're going to make more money if you just go do it all yourself. And many times they're like, I don't want to do that. I want it done. I want it done for me. I want it easy. So we're like, okay, let's go. So we're always telling them their options. We're not hiding anything, like crossing our fingers until close— the close date and hoping they figure— they don't figure out like something else, right? Like something we've held back. That's just not how this business works.

Yeah. I mean, the concept of wholesaling is pretty simple, right? That's why the name of my company is 123 Closed, like we just did. You find a motivated seller, you write a contract on that home, and you sell the contract. 123 Closed. That's simple in and of itself, right? But then now to make a business out of it, that's what people struggle with. And so anyway, so communication like we're talking about is key in this business. I'm going to be in constant communication with Anita. I can tell she's under a lot of stress, she's got a lot of anxiety, she's a lot of stuff going on, and this house is just causing even more stress and anxiety in her life. So my team will be in communication with her all along the way. And if something happens and this condition is just awful and I can't, I can't do anything with this house, the best thing I can do is communicate with her and not just go dark. Don't go dark on people. That just, that ruins our industry, the name, our name in this industry, right? That's why wholesalers, they, a lot of them do have a bad rap because they're just getting in the business. They tie up a deal, they're like, yeah, and then they realize they overpaid for it and they don't know how to have that conversation with seller, and so they just go dark. Exactly.

Well, one last thing I wanted to add is the price can be kind of deceiving when it comes to the 4 pillars, right? Like, a lot of the times people will say, I want what Zillow says, just because they, they're not going to lowball themselves, right? They don't even know what the house really is worth, so they just say a number. So if someone ever gives you a high price, don't ever be like, oh, they're not motivated, right? But obviously it is an indicator if they're like, yeah, I know the house isn't that good shape, I would take this, and it's right in the money. That's when you're like, okay, they're motivated, they already know. But a lot of times people don't know. So anyway, I just thought I'd add that.

Hey, it was a good day today. And remember, hey, if you're in this business, you're in this business to help people. These people are coming to you because there's an issue there. They have something going on in their life that they need help with. So help them. Don't just try and make all the money you can and screw somebody over. I mean, genuinely find a solution that works for your business and works for this homeowner that is in duress and is having problems.

I would say there's probably not a lot of people that have been in this business for a long time who have that mentality that they screw people. Maybe there's the fly-by-nights that like get in, they do something, but you don't last. You don't last in business being dishonest, not being, you know, not working ethically. It just doesn't work. So anyway, for people who have been in business for a while, that's how you do it, guys. You're welcome. JW's giving you a shout out, Lane, saying you got the wisdom and the motivation. And I got a quote about wisdom. Wisdom is the fruit that takes time to ripen. And, you know, so So guys, you got to take action. You got— it takes time. You want to get it? You want to get wisdom like Lane's got? He's been in it for a long time, you know.

Yeah, I've been going for it. Love you all. Go out there and do good. Do good things. Help people.

All right, catch you guys later. Have a great day. Bye, everybody. Hey everybody, what's up? It's Nathan Payne, and for the first time ever, we just released this insane training bundle that has literally everything that I've learned from doing a combined 4,000 deals in real estate, all from starting with absolutely no previous business background experience or any real estate experience. Plus, there is over $19,000 worth of free gifts that we're throwing in, all for an insanely low, low price. If you want to get your hands on this, be sure to click the first link on the description below right now.