Watch Me Close A Deal LIVE While On A Podcast - Day 10 Locked In

What's going on, everybody? Today we have a super busy day. I've already taken my vitamins and everything like that, but I'm not going to the gym right now because I'm about to appear on a podcast with a very good friend of mine, Drew Carroll. He's the CEO of Leadsolo, one of the most brilliant marketers I know. We're about to run that. He's a good friend of mine. Shoot, I don't even know how long I've known him now at this point, but it's been a long time and he's helped me a lot throughout my career. So I'm really excited to sit down and chat with him. Then later today, I'm doing a training with the founders of Auto Leads, and we're gonna be talking about how we're using AI to just absolutely dominate right now. So that's gonna be really fun. In between that, I have another YouTube video to make. So we got a lot of stuff going on. Anyway, we're going to rip all of that, then we're going to go ahead and do our journaling and go to the gym. So maybe I'm going to talk a lot about just how everything's gone today or whatever it is, who knows. But a little bit different video this time. Hopefully I'll be able to get some clips of doing the different podcasts and things like that. But yeah, it'll be a good time, be a good day. Got to get a lot done, got to help a lot of people and yeah, do our thing.

Welcome to The Business of Wholesaling. I'm your host, Drew Carroll. And today I have the one, the only Tyson Smith. Tyson is the founder of Wholesaling 101 and We Buy Homes Cash. He's made millions of dollars wholesaling himself and helped countless others to get their first deal. So I'm incredibly happy to have Tyson on. Tyson and I have become pretty good friends over the last couple of years, actually. We've worked together on a lot of different little projects here and there. So this is exciting. I'm surprised this is actually the first time I've had you on. So welcome.

Yeah, I'm super happy to be here.

Basically, we'll chat when a lead comes up. I'll keep an eye on it and we'll stop our conversation and work the lead. I want to talk about a few things here. Now, I know that you really focus on helping beginners getting their first deal. I want to zoom out a little bit before we zoom into that and ask you some general questions that I think will help set the table here.

Yeah.

First question I have for you is through your entire journey, whether it's couple of deals or like where you're at right now, is there one thing that stands out that you implemented in your business that's given you the biggest return, whether it be on time or money and anything that you kind of value? Like, is there any pivotal thing where you're just like, oh shit, I wish I knew that sooner?

One thing, as soon as you ask that question, there's one thing that hit me smack dab in the face and it is consistency, but not in the way that you may think. Yes, we know that we consistently need to be talking to sellers. We consistently need to be building relationships with buyers. That's a given. But one thing, one lesson that life kept trying to teach me over and over again is consistency in marketing. You cannot start a new marketing channel, try it for a month, and expect to get results. Any marketing channel you try, you need to be able to dedicate at least 90 days to consistently doing that channel, whether you're first getting started and you're trying cold calling properties, you need to do that for 90 days. If you're deciding, I'm gonna go drive for dollars, you need to dedicate 90 days to trying that. If all of a sudden you wanna give direct mail a shot, you need to have 90 days worth of bandwidth of giving direct mail a shot. Whatever it is, you need to make sure that you can invest 90 days to truly get a good idea of whether the channel works. And that's not even perfect. Really, you'd wanna do at least like 6 months to get a good idea. But one very important thing is not just jump to the new shiny object, try it for a month and be like, oh, that was great, or we need to move everything over here, or that sucked, we never gonna do that again. Give it 3 months. I'm telling you right now, this is gonna help your business so much. It's gonna save you so much, um, flip-flopping around, changing things. Um, and it's, it's just gonna allow you to focus on what really matters. All right.

Hello?

Hello, Brenda? Yeah, Brenda, my name is Tyson Smith. I'm with We Buy Homes Cash. I just got some information submitted about a property in Baxter Lane over in Lake City that you might be looking to sell. Have I caught you at a bad time, Brenda?

No, it's fine.

Excellent. Whereas what I'd like to do is take 10 to 15 minutes to ask you some questions about the property to see if it'd be something my company would be interested in buying. At the end of the call, one of two things will happen. One, my company is interested in purchasing it and we'll have a cash offer for you in writing in your email inbox in the next 20 minutes, or our company is not interested for whatever reason. We'll let you know why and then you'll never hear from me again. How's that sound?

Okay. No problem. All right.

So, Brenda, while I'm getting the property pulled up over here on my end, could you do me a favor and catch me up to speed? What's got you thinking about selling this place?

Well, my husband passed away in September, and, um, I just— I don't— I want to get something. I want to take the money from this house, buy something smaller, and, um, and then have money left over, you know, so I can get my son going in a profession.

Okay.

Yeah, that completing his license and stuff. Yeah, so that's the reason why, you know.

Okay. Are you currently living in this property?

Yes. Okay. Hello?

Hello, Brenda?

Yeah. Hi, Tyson.

Hey, I got some great news. Okay.

Okay.

So I was able to talk to my manager and I was able to get them to come up all the way up to $142,500.

Okay, that sounds good.

Perfect. So is your best email the one you submitted, um, lochristopheresc@yahoo.com?

That's it.

Okay. And are you in front of your computer? Do you have access to your email right now?

I can open it while— I can open it up while we're on the phone.

Perfect. That's what I'd like to do.

Give me a second.

All right.

Okay. Okay. Okay. All right.

So is what I'm doing right now is I'm having my transaction coordinator send you over the offer. So you're going to get an email that says offer for and then the address of your property. And me and you are going to go over that so you can see all the parts that are important.

Okay.

And the fact that it's got everything we talked about where we're paying all the closing costs, we're buying the house entirely as is. So you don't have to make any repairs or clean anything up that you don't want to, right? You take everything you want from the property, you leave everything else for us.

Okay. What if I were to change my mind? What happens?

Is there a reason why you'd want to change your mind?

I mean, you never know. What if, like, What if, like, my son died or something, you know, and I'm here, you know, I wouldn't be able to, like, stop everything. Of course. Well, is what I'm going to tell you, like, sometimes you never know what's going to happen in life, so you have to ask that question.

Absolutely. Well, well, Brenda, look, here's what I'm going to tell you right now. If you feel like for some reason you don't want to sell this house, then you should not sign this piece of paper. However, if your son dies, something like that happens, then we're of course going to release you from the contract.

Right, but like, you know, if anything, I mean, I don't see myself changing my mind. I mean, I don't, I don't see myself changing my mind. That's something I've thought about for a long time. Exactly. Got your website and known about for a while, you know what I mean? For a few months. Okay, so it's not, you know, it's not something that I took lightly by calling you, but I was just saying, like, you know, if for any reason if I wanted to cancel or Any, like, you know, and it would be something that would be major if I canceled, you know what I mean? But if I did, what would the recourse be? I need to ask these questions.

Oh, absolutely, absolutely. And you should.

I need to know, like, what, what would happen, you know? I mean, of course, if my son died, I understand that because, you know, he lives with me. Of course, you know, of course.

Well, here's what I'm going to tell you is, look, you're talking to me, I'm an actual person, I understand you. And in the event something crazy like that happens, then we're of course going to release you from the contract.

Okay.

Right. But, but also, I'm going to tell you this, Brenda. If all of a sudden it comes, you know, a week before close and you decide, hey, actually, never mind, this is a lot of work, maybe I don't want to move and we've already invested a bunch of money, then we're going to buy the house. Don't you think that sounds fair?

It does sound— oh my God. Yeah. I mean, I've been making that for years and it was like people backing out on renting an apartment. You know, I take the deposit and it was put right on there, nonrefundable if they change their mind.

Yeah, well then I'm glad we're on the same page then.

Yeah, because, you know, I could have had the chance to rent the place 10 times, right? I mean, right, because you said you wanted to move in, but yeah, so I understand the contractual stuff, but that's, that's all I wanted to know.

Perfect. Well, hey, that's an excellent question. I'm glad you brought it up.

You needed a little more time, like, oh, you know what, Tyson?

Oh, if you need more time, of course, that's something we're— yeah, no, That's something we're going to work with you on.

Of course. Okay, beautiful. Because the only thing I can see happening is that maybe I need a little more time, but it wouldn't— Yes. You know, no, then that would just— I got to get help up here to help me do everything.

Hey, of course. Look, that reminds me of a situation we had. It was, it was a woman in Jacksonville, Florida. She was selling her house and she needed a little bit more time, right? It was 2 weeks before we were supposed to close. She called me up. She says, Tyson, I don't know what I'm going to do. And I said, hey, take a deep breath, settle down. How much time do you need? She says, I need another month. And I said, no problem. I sent her over an addendum. We extended close of escrow another month, and I even put in there, if she needs more time, we can extend it again. Because the last part— the last thing I want to do is put you in a bad situation.

Yeah, the only thing I would be having is I would need another 30 days maybe. But I, I, you know, I'm like, I'm gonna do my best. I have a U-Haul sitting over there that's full of stuff. I have to have a big yard sale, you know. Yeah.

Yeah, well, hey, that's— yeah, that's no problem at all.

All the stuff, all the materials and stuff I have here in the U-Haul.

So yeah, no, that makes sense.

Yeah, so yeah, that's like I said, it's just, just hiring help and, and, and, and getting it done, you know. But like I said, we've been working every day to get rid of all the tools my husband had. I've got rid of a truck, a Mercedes. These were all old cars that are like projects he was doing. Yeah, got a bunk, got rid of It's well, so I mean, I've been busy. I've been busy. I wanted to make sure that at least half the stuff was gone before I call somebody, you know what I mean?

Well, that totally makes sense. And look, is what I want to tell you is, look, we're a team now. And if at the end of this, if at the end of this transaction you aren't absolutely thrilled with working with me, what does that mean? That means you're not going to write me a great review, and that means I'm never going to get promoted. So it's, it's my job to make sure that you have an amazing experience and that anybody else you know, whoever wants to sell your house, that you're going to say, hey, you got to call He took care of me and he'll take care of you.

I do know a lot of people too. Perfect. A lot. Okay, so, um, cool. So, okay, so now I just hit finish and send it? Yep. Yeah, that was the main two worries I had was just what would happen if I decided not to, you know, and, you know, like because of some extenuating circumstances. But I think the main reason would be just if I need more time, you know, that case.

Well, I'm telling you right now, we're going to work with you on that.

That's— that—

look, that's one of the benefits. One of the things I told you is that, um, you know, or I don't know if I did mention this, but one thing that people love about working with us is that we're going to work with you on the close date, right? This isn't like when you sell your house on the market, they're like, hey, this day you're out, right? If you need some extra time, or alternatively, if you say, hey Tyson, I'm ready to get paid, I'm ready to move, can we move this up? I'm going to say, all right, let's get it done, right?

Okay, got it. Okay, so I just hit finish and send it to you.

Perfect. So what's going to happen next is a member from my team is going to give you a call. What he's going to do is just make sure that you've got all the paperwork you need, you've got copies, and he's going to set up a time when we can go ahead and get somebody in to get just preliminary pictures. And then he's going to be your main point of contact for the rest of the transaction. He's just going to make sure that you're getting weekly updates, that you see, okay, everything's moving along, right? Most— more often than not, it's just a call. Hey, Brendan, nothing to report. We're still buying the house. How's everything going? But we just want to make sure that you're fully informed and you know what's going on in the transaction.

Okay.

Okay, perfect. So be on the lookout for a call from him today. It'll be another 480 number.

Okay. Okay. Okay. From Arizona?

Yep.

Okay. Gotcha. All right. Thank you very much for your time.

Been so nice to speak with you too, Brenda. I can't wait to get this done for you. And you're going to write that review for me at the end, right?

Yes, I am.

All right. Okay, Brenda. Well, we'll talk to you soon. Okay?

Okay. Have a good day.

You too. Bye-bye now. All right. First lead. First lead we get.

What a masterclass in, like, in, like, absolute confidence and, like, knowing your domain, right? Like, they say it takes 10,000 hours for mastery. And, like, that's an exact reason why Everybody listening needs to learn from somebody who's so good at what they do. Like, there was not, like, there was not a single hiccup in that entire thing. The checkbox thing, I immediately would have been like, oh, I fucked something up in the contract. And like, immediately like, bop, bop, bop. You were just like, yep. So now I just need you to scroll to the top and click the formatting thing on your phone. Like, you know, like you've had so many iterations that you've been through these things that, that just, that blew me away. Just how calm and collective you were.

Here's what I'm going to tell you. I remember this wasn't my first deal, but it was, it was, it was when I just started going nationwide and I'm doing a contract over the phone and I had a guy get so frustrated he hung up the phone and I couldn't get him on the phone. Now, this is a, this is a deal out in Eureka, California. And spoiler alert, I ended up wholesaling this deal for $115 grand. Now I'm on the phone with him and at this current time we're talking, it was going to be a $200,000 assignment fee. And I knew this. And so we're going through the contract and this guy's getting frustrated. I'm doing everything in my power to calm him down, get him through it, whatever. He gets so furious, he hangs up the phone. I can't get a hold of him again for another 6 months. 6 months later, get him on the phone. The exact same thing happens on DocuSign. Can't get him through. We increase our price, everything. We did everything we could. Same thing happens. He couldn't figure out DocuSign. He got so frustrated, hung, just hung up the phone. Couldn't get ahold of him again for another 6 months. 6 months later, we get him on the phone. I send a notary to his house right then and there. They go get it signed in person, done, whatever. We end up making $115 grand on it.

Wow.

But after that first time, I realized that the reason I didn't get that deal right then and there was because I was not good at walking somebody through the contract.

Right.

I said, I need to know my contract frontwards and backwards. And I sat there and I went through every single little section. I said, how can I explain this to somebody like they're in 5th grade and they're going to understand? Right. And I've practiced that. Now, for everybody who is interested, I give away my exact document that I use for free. Go to any of my social media pages, you'll be able to find it. And when you go to get that contract, you're going to be sent to a video that shows you me going through the contract, exactly my process for this, what I say on each part, how I explain it. I explain it to you and then I explain it. Okay, now that you understand what this is, you need to be able to explain it to the seller, right?

Thank you so much. We are 100% going to do this and plan some more time, and I'm just going to flood you with leads. And I think that we should do a little challenge, see how much money we can make in an afternoon. And yeah, let's do it, man. Otherwise Thanks so much, man. I really appreciate you coming on and giving me your time today.

Oh, thank you, man. It's always good to see you. I always learn something. I actually always learn a lot. That's what I do every single time I talk to you.

Uh, well, thanks, brother.

All right, all right. We, uh, did the podcast as you guys just saw. We ripped a deal on the first lead we talked to, and now we're about to get started on the webinar. We're talking about auto leads using AI, uh, and how we're using that to crush. So this is about to be sick. Uh, hopefully it'll be a recording of the highlights of this also on this. If not, I'll figure out a way to get it, but, uh, let's get after it.