$250k in 1 MONTH CHALLENGE (Day 11) | WHOLESALING REAL ESTATE

Okay, gotcha.

But I'm old school. I don't like dishwashers. I have no need for them. I can do it just as easy as it can.

Okay, I hear you. So, uh, based on that, uh, how much would you be looking to get for the property?

Well, I know Gene Lester, as you know him, but his middle name is Gene, and that's what he goes by. Who did a sneak attack on me. So not being rude, I didn't expect your call. But, you know, God, where was we going? I lost track when I started telling you what his name was. Oh, okay. He had talked to a realtor. I'm assuming it was earlier today because he sent me the picture where the guy had made an offer. It was $266,000. And he told him everything. And, you know, I know not to expect that. You know, I don't live in a dream world. I prefer reality. You know, we at least like to get at least 245, 250 tops.

Okay.

Now you're 4.1 miles from the elementary school. Middle school and high school, which is together, you are 12 miles from it. If anybody, the, oh Lord have mercy, bless me for saying this, but if you're a Georgia Bulldog fan, you're 17 miles from the UGA stadium. The traffic can get horrible when you're trying to get out on your main road, 'cause we live on a little side road. You know, it can be a little horrible getting out on it during the football season. Yeah.

Well, I don't know if I should tell you this, but I actually went to school in Tuscaloosa.

Ah, okay. Well, no, I'm not a Georgia Bulldog fan, so the traffic blows me on that one. Gotcha.

Okay, so from what I'm seeing, these houses looks like they're selling on the market for around $200,000.

Mm, well, and see now, I can bend a little bit, but Gene won't.

Yeah, well—

And that's just being upfront with you.

Right, well, I appreciate that. What I'm gonna tell you is, now I'm not the person who comes up with our offers or anything like that, but I do have a pretty good idea normally where they're gonna come around. And, uh, from what I can see, it looks like these other houses— I mean, you got one that sold for $248,000, but it's 2,000 square feet, another manufactured home. But I'm looking at the last 12 months, and all of them— I mean, I got $137,000, $200,000, $205,000, $210,000, $215,000, $196,000. Based on that, our offer would probably Somewhere in the $100,000s, the lower $100,000s.

Yeah, well, I can tell you right now, Gene would say no.

Right. Is what I think, I think listing with a realtor could absolutely be the best bet. If you guys aren't like stressed on time, you know, where it's like time is a very big factor, then yeah, I would absolutely, I'd contact a real estate agent out here. Okay, that's going to be your best friend.

I've got a friend that works with Keller Williams, but she's in Jasper, Georgia. So, you know, she's a little distance away from us. But, you know, I thought about calling her and just getting her to do it.

Yeah.

Let her handle everything.

Gotcha.

As rude as it sounds.

Well, no, I mean, my hands are full.

We got field day tomorrow. I got doctor's appointments. So, you know, I'm like backwards and forwards.

Gotcha. Well, one thing that you can talk to maybe Lester about and see if it's something you'd be interested in is we do have another property where— or I'm sorry, we do have another program that your property may qualify for. It's called our Equity Protection Program, and essentially it's for properties like this where our cash offer is just way too low. But that's just because our company has a very specific buying criteria of what it is we're looking for. And even though your property, it doesn't fit well in our buying criteria, we think it was going to fit a lot better in some other investors that we know. Like, as a nationwide real estate investment company, we built partnerships with all the different local investors in Georgia, national investors, the hedge funds, as well as the realtors and everything like that. So something we do do for people is we will actually get their property in front of all these different investors as well as get it on the MLS. Still without you having to pay any realtor fees, closing costs, any repair costs, anything like that. We cover all of that because we actually get the fee from the buyer. Now—

Oh, okay.

In a situation like this, I can't tell you exactly what it's going to be. It's going to be much higher than our cash offer because our cash offer would need to be in like the low $100s. But with something like this, we could probably get you a lot closer to $200.

Well, I'll talk to him and, you know, see what he says, and then I'll just call you back at this number you called me from and, you know, let you know what he says.

That'd be great. That'd be great.

And, you know, I don't like it when anybody leaves me hanging, so I don't do it to anybody.

Well, I would really appreciate that. Thank you, Tammy.

You're welcome.

All right.

Well, yeah, I do appreciate you calling me.

Well, thank you for taking the time to answer my questions. You've been very helpful.

Well, I appreciate it, darling.

All right, well, yeah, I'll just look forward for your phone call. If I haven't heard from you, I'll reach out in a couple of days.

Um, but anyway, well, it'll be tomorrow, but it'll probably be— let's see, I gotta be at the doctor at 9, then I got a 9:30 appointment also. It's probably about noon. All right, my time.

All right, sounds good.

Okay, thank you.

All right, we'll talk to you tomorrow, Tammy. Have a great rest of your night.

You too.

All right, bye-bye.

Bye-bye.

What a sweetheart. Uh, sorry guys, phone died mid-live. My bad. Um, I don't know where it cut off, what you guys didn't hear, but, uh, she, uh, I looked at this property, sells for like $200,000 on the market, and I told her that, and I was like, yeah, we're gonna have to be in the low $100,000s. However, we do have this other program, kind of pitching Ovation, sort of very loosely, very vaguely. So we'll see, we'll see, we'll see what's up. Alright, yes, Adam, novations are kick-ass. It's pretty much all we're doing right now. Actually, weirdly enough, all the deals I've gotten, not a single one that I've gotten as part of this challenge has been a novation. But the vast majority of our deals we've been doing, like 90% of them have been. All right, what happened? Phone died, Chase. All right. Huntington, West Virginia. I've never been a huge fan of PropStream. I don't think there's anything wrong with it. I know there are people who make a lot of money using it, but I never have.

Your call has been forwarded.

I just never have. 100 dials today? I'm probably gonna hit my KPI of offers before I gotta get to dials. This would probably be the last time I can wear a gray shirt this summer season. Here in Arizona, it gets hot, you start sweating, can't be wearing gray shirts. You feel? Probably already got— we got some pit stains rolling a little bit. A little bit. Thank you, Danny. I'm not really a fan of them. I actually hate having to wear them.

Your call has been forwarded.

Makes me feel like a little bit of a nerd, but it's all right. We gotta feel like that sometimes, you know what I'm saying? Gotta feel like that sometimes. We just, you know, we just move on, bro. We just wait. Eventually the contacts will come and we'll be good. What's KPI for contacts? So I don't have one, but basically guys, our KPIs for sales goes like this. Number 1 KPI is a contract. We want to get a contract a day. But we know that's not always possible. But we always want our reps to be able to hit their KPIs every single day. So the way we do it is this. Number one thing is getting a contract. If you have a contract, I don't care what else. I don't care how many fucking dials you made, how many people you talked to, whatever. If you get a contract, you're good. If you walk in, first call, get a contract, you wanna go home, do it. Cool, fine by me. If you have a contract, or I'm sorry, if you don't have a contract, then you need to have made 4 offers. The reason being is we found for every 4 offers we make, we typically get a contract. So now we're still driving our highest revenue-generating activity, getting contracts, and still allowing for our reps to hit their goals every single day. But we know it's not always possible to make 4 offers in a day. So if you haven't made 4 offers, you need to have 3 hours of talk time. Again, we found for every 3 hours of talk time we have, we get a contract. We also know sometimes people just aren't answering that day. So if you don't have 3 hours of talk time, you need to have made 140 dials. The reason behind this is our most important thing is getting contracts. That's not always possible, and we want our reps to be able to hit their goal every single day. So it goes from most important, but also most like outside of your control, to least important, but lagging or leading indicators that lead to what's most important and highly achievable, completely under your, uh, completely under your control. What's up, Riley?

All right, all right.

Alright, do people ever get offensive with offers? Yeah, sometimes. Sometimes they do. So do I say I'm underwriter when cold calling? What?

No.

Guys, you always want to make up somebody else that can be the bad guy. So like, when I'm talking, I've got to give a low offer, I'm like, hey, I'm so sorry, this is what the underwriter said. They said we have to be here. But that way it's like me and the seller versus this other person. I don't want it to be like, yeah, I took a look and it had to be here. Because now it's just me versus them. We want to create another person so I can still stay on their same team. Like, yeah, I know, I know, I told them that that would never work. How close could you get? You know what I'm saying? So we always want somebody else. Like, you never say you're the owner of a company or owner of the company, anything like that. You always want to have a different person to make be the bad guy. Um, shit. Ken, my day's been good, man. How about yours? Least allowable offer? No. I mean, the least allowable offer is free. So when I'm cold calling, what do I say? You ask them if they want to sell. That's going to be most important. That's step number 1. But no, there's no such thing as least allowable offer because we have the max because we know at the max we can make money. So anything less than that is just more money we can make. Cause I don't pull lists anymore. All of my leads are inbound generated. They're all people who've come to us saying, yeah, I want to sell. All right. Oh, I'm Hitoshi. Not necessarily always financial difficulty. People also just don't want to fucking deal with realtors. Hey, of course, Riley, I'm glad you appreciate it, man. Yeah, people have this misconception that the only people that wholesalers work with are people who are in pre-foreclosure or some kind of disastrous situation, when that's not the case. You realize people these days have gotten incredibly fucking lazy, and if there's an easy way out, even though it costs more money, technically it costs more money to them because they have to sell for cheaper, a lot of people will take it. What sites can I find similar house situations? Guys, if there was just one marketplace you could go to and there's just people out there saying, hey, I want to sell my house for cheap, everybody would be millionaires. You gotta, you gotta find these people, right? We do this by running ads. Now, I don't know how to run the ads. I got marketers who do that stuff. I got companies I hire. If you want to work with the same companies I work with, a link in my bio. Find motivated inbound leads. Johnny Best, where are you at in 250? Guys, I'm not sure where I'm at. I'm not looking at it at all. What I'm gonna, because here's the thing is all the profit right now is make believe until anything has been assigned, fucking EMDs in. So at the end of the 30 days, I'm gonna look at how many contracts I got. And then like 30 or 45 days after that, we'll look at it, see what deals closed and how much money all of it made, right? That's the plan. All right, all right, let's pitch this fucking seller finance offer. I gotta pitch this and then this will probably be my last one. Normally I'd be calling for another hour and 20 minutes or so, but my car is ready.

You've reached Denise Ramsey.

My car is ready to be picked up. And I want to go get it before the fucking dealership closes. All right. Any major suggestions for beginners? Yes, cause go watch all the YouTube videos I have on my channel. They're very good. Well, these leads are from leadsconnect.io, is the company who's been— I've been working with. Their information is in my bio. But it says find motivated inbound leads. All right. All right. She just doesn't want to answer. That's cool, I guess.

Hello?

Hello, Michelle?

Yeah.

Hey Michelle, it's Tyson. We spoke earlier about the property over on Parsons Drive.

Oh yeah.

So we were able to take a look at the property with our underwriter and unfortunately it came back a lot lower than what it is you were asking. For us to buy this property cash, our underwriter said that we would really want to be around $159,000.

No, thank you.

Yeah, so I told them, I was like, you know, that's way too low. They're not going to take that. And we kind of looked at it and we agreed that, you know, your house has a lot more value than that. It just doesn't fit nicely in our company's buying criteria. And I was actually able to get you qualified for another option we have. Where just because something doesn't fit in our buying criteria doesn't mean that like that's what it's worth. And just as a nationwide real estate investment company, we built partnerships with all kinds of different investors, realtors, hedge funds, different people who buy houses, um, all across the country. And we think that we could get you $205,000 for the property still without you having to pay any fees make any repairs, deal with any realtor fees, anything like that. Would that be something you'd be interested in?

Uh, not right now.

Okay. All right, well, hey Michelle, I do appreciate it. Um, sorry we weren't able to help you out a little bit more. Well, if anything changes, please feel free to give me a call, okay?

Okay, thanks.

All right, thank you. You have a great day.

[Speaker:WOMAN] You too.

[Speaker:JOSH] All right, bye-bye. All right, guys, we have made 5 offers today, 5 offers declined. But like I said, statistically, for every 4 offers we make, we typically get a deal. Now, one thing I'm going to tell you guys is it's very rare that you get somebody who accepts your first offer and then you get the contract signed. The vast majority of our deals come from people who say no to our offer and then give us a call back in a week. So we're sitting pretty. We're doing the work. We're running the plays we need to run every single day. We're not looking up at the scoreboard. I don't care where we're at on the 250. All I care about is how do I run the next play? How do I get the next contract? We make it happen. No, the vast majority of our buyers are not hedge funds. Most hedge funds have backed out of the single-family residential market. There are some still, yes, but it's nothing like how it was in 2022 and 2023. 2021 where hedge funds were fucking buying shit for like 104% of ARV. A lot of them backed out. I appreciate that, Franklin. Thank you. All right guys, that's it for today. We hit a goose egg on the contracts. That kind of sucks, but we got plenty of leads. Tomorrow's gonna be a new day. We're gonna get up, we're gonna run the fucking plays, boys, and we're gonna make it work. It's gonna be awesome. Um, anyway, thank you guys for watching. Guys, if you guys want to learn everything you need to get started in this business. I've made YouTube videos to show you guys that you guys can go watch absolutely for free. So go check it out, and when you're over there, make sure you leave him a like, make sure you hit subscribe, and fucking leave a comment.