“Dumb wholesalers make the most money”, insists Brent Daniels from TTP. You don’t have to know everything or how to respond to every situation. You just need to be in a position to have a quality conversation with a distressed homeowner. Even before he knew what wholesaling was, Brent Daniels was wholesaling. He just called it “finding the ugliest house”, and it’s shaped the cornerstone of his wholesaling business for over a decade.
If you were to drop Brent in the Middle-of-Nowhere, North Dakota, Brent’s priorities would be this:
- Find an ugly house
- Get their phone number
- Talk to them
- Follow up on them
It is just that easy to find a home to wholesale. But we get it. It can be scary to pick up the phone and start cold calling strangers. Ask yourself: What are you trying to accomplish? What are you trying to do? You need to go out there and help people sell their homes and relieve them of their financial burden. The second you change your perspective and go out there with a servant’s heart, you’ll be able to get over your fear about picking up the phone and calling strangers.
My newest calculator doesn’t just calculate costs for you. The Automated Offer Pro-Lite Calculator also gives you cover letters, contracts, charts, and it lets you compare yourself to other investors and even Realtors. I’m not just going to drop this in your email inbox. I’m also going to send you a 15-minute training video that’s going to set you up for success.
Watch and Learn:
Listen and learn:
- Having a conversation with a distressed seller is not hard if you have your heart in the right place before you pick up the phone.
- Hands down, Brent’s favorite software and gadgets for driving for dollars.
- Brent’s predictions for where texting, Robo-calls, and other mass marketing tools are headed.
- The four pieces of information that you’re looking for in every single conversation with a distressed seller.
Mentioned in this episode:
- BatchSkipTracing.com Use code: TTP
- DealMachine.com Use code: TTP
- TTP on YouTube
Download episode transcript in PDF format here…
Joe: All right, guys, how’s it going, Joe McCall here, the Real Estate Investing Mastery podcast. I’m glad you guys are here. We are coming at you live right now on the YouTube’s in the Facebook’s even periscope. Is anybody still on Periscope? We’ll see here. But I’m glad you guys are here. You got a special guest today. His name is Brent Daniels. And you’ve heard of him, I’m sure, because he’s everywhere. We just hung out recently at a mastermind. Brent is so passionate. He’s so genuine. He’s authentic. He’s what you see is what you get. He’s the real deal. I like Brent Daniels a lot. And so I asked him to be on the podcast today. And we’re going to talk about something really cool. I’m going to ask Brent, like, if you were to start all over from scratch, knowing what you know now, what would you do if you took away everything that you had and all you? And I’m going to let him have a phone and you’ll see why I’m going to let him have a phone. What would you do?
Joe: So I think it’s going to be a great episode. You guys are going to be in for a treat. I want to let you know as well. This podcast is brought to you by my brand-new calculator. I have this amazing little calculator just released recently, letting my students play with it and test it. And it helps you come up with some really awesome offers that you can send to sellers. And it doesn’t just calculate an offer for you. It actually gives you a bunch of really cool cover letters, contracts, charts that go with the offer just to say what it is that you do and how comparing yourself to most other investors or comparing yourself to realtors, like why you can close deals. It’s amazing. It’s awesome. And it’s absolutely free. It’s called My Automated Offer Pro Lite Calculator. And you can get it at PartnerwithJoe.net. When you join there, you’re going to get an opt in. You can opt in to get the calculator. Then it’s going to take you to a little 15-minute training video I did. It’ll email you the calculator.
Joe: But this little training video that I did was going to show you how you can do your first deal without using any of your own money or credit without any kind of experience. And I have got this program that I’ve just launched called Partner with Joe, which just seven bucks. And I’m going to teach you over a 30-day period, one of the fastest and easiest ways to get your first check. So go check it out right now at Partner with Joe. All right. Should we bring Brent Daniels? And I think we should. He’s got full of he’s full of energy. He’s ready to go. The TTP is flashing in the background. How are you doing, Brent?
Brent: I am. This is exciting, Joe. I mean, listen, rewind the clock. Three and a half years ago, we did this together three and a half years ago. Believe it or not, we were talking about picking up the phone and making cold calls to distressed property owners. And you’re like, Brent, that sounds like being a real estate agent. It’s like every, every industry in the world does this except for real estate investing. And then all of a sudden it became commonplace, which I’m really excited to be kind of on that wave that brought that to the incredible people. But I am I feel very fortunate to be on here. Joe, you’re the absolute best. I would if everybody watching this or listening to this, you got to get PartnerwithJoe.net. Because the toughest part, you know, Joe, as well as I do, the toughest part when you’re starting out is, is this a deal or not a deal? And that’s the toughest part. You don’t really know. You need to have the tools that you have that you’re providing to be able to really calculate, to know, is this something that is worth my efforts? Is this situation that this property owner is going through? And the pricing and the terms and the condition of this property are going to align with the ability to make something happen here with this. So I love that, Joe. I love that you later. I’m jealous that you have that calculator.
Joe: Well, there’s a bunch more to it, too, so it’s just a cash offer that they get for free. But then I have one that does calculates lease options and owner financing offers as well. Incredible. But look here. I interviewed you back in August of twenty seventeen. Can you believe that? I wasn’t even doing video back then. Right. And it was just on Skype probably. And who’s this crazy? Because I remember very clearly I had some students that were talking to me about you and they’re like, man, have you ever heard of cold calling? And I said, Yeah, realtors do it all the time. And I had my license. I’ve seen realtors do it successfully. Yeah, they were saying no. But there’s this guy Brent, who’s taking it to another level and he’s doing it as an investor looking for as a wholesaler. And guys, you think cold calling has been around forever? It has like realtors, maybe been doing it for twenty, thirty years.
Joe: But investors we’re talking to the guy right here who put it on the map and he came out with this TTP thing. I thought, oh, man, I remember thinking I wish I would have thought of that. That was such a cool thing. That acronym, you know, I’ve always called it the flap your lips method. Right? Just talking to people. And so we interviewed Brent. And I remember I was talking to my coaching business partner, Gavin. I said to Gavin, we need to start doing this. And sure enough, four years ago we started cold calling and we’ve not looked back since. We’re still doing cold calling today. It’s our favorite source of deals and we have virtual assistants. Now, there’s an argument whether you should do it in-house or with VAs in the Philippines. But we’ve got right now about five to six Filipino VAs with great English. We’re paying them about five dollars an hour before bonuses and doing five to seven deals a month. Just the VAs make the initial cold calls and we then we take it from there. It’s a great strategy. And then thanks to you, Brent.
Brent: Well, listen, it’s really interesting. The whole TTP is just the philosophy of being proactive, right, just going after these deals. For so long, we were waiting for people to call us, waiting for referrals to come in from family and friends and people that we know waiting for are signs to give us calls in our mail to give us calls and our Internet leads to give us calls. And that’s great. And it all works. It just gets more expensive, you know, and as you’re getting into this business, you don’t have a huge amount that you can invest into it. So what do you do? You either have to pick up the phone and call somebody or you go to the doors and the door knock. And I mean, that’s how you start generating the pipeline of leads that gives you the opportunities to be able to do something. So, you know, I think it was inevitable that people go there. But I was just kind of the mouthpiece of it. And I feel I feel very fortunate to be able to be that mouthpiece. But, you know, like, you know, your people are putting in the time and the efforts you’re following up those leads. You’re converting those to sign contracts. You’re turning that into income. I mean, all of those processes happen because you have the leads in your pipeline. So I love it. I love that you’re doing it.
Joe: Here’s the thing. If you’re not on the phone, you’re not making money. That’s it. It’s as simple as that. And it’s not complicated. It’s not rocket science. Let’s do this. Let’s go back. I want to ask you a question like if you were to start off from scratch, if everything was taken away from you and you were put into a new city that you’d never been before, what would you do? But first, before I ask that, I want to can you tell us a little bit about your background? What were you doing before you started getting into real estate?
Brent: So I found the risk for that book in college. Right. My sophomore year in college, my mushy brain put that in there. And I was like, oh, my gosh, this is incredible. I’ve never heard anything like this. It was always kind of I had a fire in my belly to kind of be an entrepreneur. But I didn’t know what that meant. I didn’t know where that went. So I got a real estate license and just started traditional sales. And that’s where a lot of this training came from. Joe was just being a traditional agent. And listen, when you’re starting out, you’re taught to go talk to your friends and family and to make phone calls. You got a cold call on listings that didn’t sell and for sale by owners. So I did that for years and years and years until I discovered that you can just find an ugly house, try to find its phone number. And this is back in the day where there wasn’t skip tracing. Now, skip tracing has just exploded in the whole your whole ability to really get a hold of these property owners is a lot easier and a lot more streamlined.
Brent: But you would try to find it online at like White Pages or intelligence or some of these other ones. Now, what year is this? This is like 2011. 2012. Yeah. And then so I just started making the calls to those property owners and seeing if they would consider an offer in their property. It was literally just going out into the streets, finding ugly houses, writing down the addresses, going on to my tax assessor sites, getting the owner’s info, getting the phone number, calling them up, all nervous, you know, and being like, hey, would you. I didn’t know what to say, you know, and when you’re an agent, they have scripts for you. So I had to develop a script. I had to develop a tone.]
Joe: Are you saying the Brent Daniels was nervous?
Brent: Oh, yeah. It was new!
Joe: I think I don’t believe it.
Brent: But, you know, listen, the nerves. That’s the best part, man. The best part is trying something new that you have those nerves and you have that like your guts get all watery and you’re kind of like feeling weird and awkward and kind of like, oh, my gosh, I’m not really confident here. And then you get into and you realize these are just human beings. You realize that you can ask a certain question and answer to a certain way and you can just keep doing that. And then I discovered that when you ask somebody if they would consider an offer in their property, there’s only six responses that they give you. So I learned how to respond to those six responses. And that’s kind of what the TTP program was built on.
Joe: All right. So this was twenty eleven. Twenty twelve. Yeah. Were you in Phoenix at the time? Yep. So you’re still in Phoenix today. It was. It’s not as competitive then as it is now. Maybe, but like back then I remember I got into real estate in 2006. Phoenix was extremely hot market. It seemed like all the gurus are from Phoenix, all the boot camps are from there. You couldn’t walk down the street without tripping over a bandit sign in Phoenix, right. Yeah but and so but even still in 2011, twenty twelve at the time were you thinking man this is really competitive. This is hard to find deals with those kinds of fears and doubts coming into your head even back then?
Brent: It was fish in a barrel at that point because nobody was calling. Right. So it was like a new unique approach and it was a lot easier than calling, because when you’re an agent and you call on the expired and cancel listings that happened the night before, you’re like number seventy or eighty of that day. I mean, people are calling in our market at five thirty in the morning to try to get a hold of these property owners to get an appointment that listed. So when I was calling these distressed properties are just these houses that were just needed some love. They needed renovation. Nobody was calling them. They weren’t on the market. Nothing was happening. So it was just it was incredible. But remember, Joe, I was just starting, you know, I was I had a dealer for my retail business, but I didn’t start doing that because I just I would burn through the list too fast. It. It’s only like 30 or 40 properties that I was going after. So we were hand dialing, we’re getting opportunities. It was going great. And I was like this. This is game changing. You got to be able to if only if only there is skip tracing companies that that could provide this the phone numbers, that would be great.
Brent: And at the time, there’s only a couple. Then you had to have kind of a corporate license to be able to get them. Fortunately, my real estate brokerage had that and I was able to kind of have a unique advantage. But it’s still, Joe. You know as well as I do. People have been telling us since 2010, 11, 12, the market’s going to crash. It’s all going to be over. This is a bubble. It’s going to be it’s been too good for too long. All these things I’ve been hearing it since 11 and 12, and I’ve had a fantastic business every year. So, you know, I think that it’s one of those things that people are always trying to peer around the corner and see and try to be some sort of genius at predicting the market. But I think that we’ve got unbelievable opportunities in good markets and bad markets. We’ve been in a good one for a while. And when it turns, then it turns you still have to talk to people.
Joe: It’s easier than ever now today to do this virtually and to do it in multiple markets. So let’s talk about your first deal that you did. You were cold calling, right. You talk to a seller and you were doing driving four dollars, basically looking for vacant houses, writing down their phone number on a piece of paper, coming back to the county website to find who the owner is and go into white pages, dotcom or whatever. Yeah. So talk about your first deal, if you remember.
Brent: Yeah, I do. You know, at the time. So this is just I mean, we’ll time travel a little bit at the time. So as a young man I thought I was a genius in real estate. I’m going to open up a real estate brokerage. So I opened up a real estate brokerage in January of 2008 and signed an office lease for ten years for nine thousand square feet. Right. With Joe with a personal guarantee. OK, that’s yeah. That’s how silly I was. And by September, the economic world melted, the real estate world melted, everything went away. And they slapped me with the remainder. They slapped me a year later, a year and a half later, they slapped me with the remainder of the least amount, which was seven hundred and forty-two thousand. So I have this hanging over my head. I’m trying to fight and scratch and claw to find opportunities and stay in real estate. And so I went door knocking. I was always door knocking at a drive. I’d see a rundown house and I’d just go up to the door and then I go and talk to the neighbors and see if I could get a hold of somebody. But I went to this one door at the end of the street and the gal was there and she was very nice, which is, you know, sometimes they’re not. When you go straight to the door and interrupt their day, they have the right to be.
Brent: She said, no, I love my house and never want to move, I raised my kids here. But I’m the caretaker for the house down the street, you know, let me go inside. Let me call her. I think she wants to sell. Let me see if she’d be fine with me giving you her number. She came back with the slip, with her number on it, and that was it. Joe, I was like, this is the key. This is the key. If I get if I get the phone numbers for these ugly houses, I am going to make something happen. And that’s how I made my first deal. I didn’t know what wholesaling was. I sold it to my cash buyer investor who has signed it for forty thousand dollars more. I didn’t realize that until the closing statement or the settlement statement. And then I kind of after three deals, ninety-two thousand dollars that I made for my investor and assignment fees, I learned what wholesaling was and I haven’t looked back from there.
Joe: So you kind of learn wholesaling, not from buying a course or a program, but just by actually hitting the streets and doing it right.
Brent: I didn’t know what it was. I mean, you know, it’s really interesting. I think that you and I and some of our incredible friends and Jamil, we just do a really good job of kind of being louder these days. I feel like it’s easier to have a way to be louder and let people know what’s going on. But at that time, I mean, Facebook was kind of in its infancy. YouTube wasn’t that big. There wasn’t a lot of ways to really get educated on what wholesaling was unless you went to a conference or you had somebody that had an inside track into it. So it was kind of like this mystery. And so I just didn’t know. So I kind of fell into it. Yeah. And then I found Tom Croll and in twenty fifteen and that kind of changed everything. But yeah, they’re just it’s a different world right now.
Joe: So when you started working with Tom, was that first as a student just getting into the course and died out. So you’d already been wholesaling one or two years at that point?
Brent: Yeah, I had a healthy business, Joe. I joined because I wanted to be close to Tom Croll. That’s literally the only reason he did well at the time, Joe, believe it or not, he was doing the sales calls. Yeah, I remember Tom was doing the sales call. So I hear this guy on the podcast. And then I signed up for a call and it’s Tom talking to me about his program. And I’m like, this is it. I’m definitely getting in there. I’m going to get as close to this guy as possible and make something happen. I didn’t know what, but I was like, you know, I bet if I start talking about doing deals from cold calling, I’ll get a shot at getting on his show. And I thought I would just be a podcast and it turned into me hosting it twice a week, which is incredible.
Joe: Tom Croll’s is a good friend of had him on three or four times. OK, guys, as we are going to get some more questions, I’m going to ask more questions to Brent here as we start going through. If you have questions, please type them right now into the chat. Got people on here like Dusty. Good to see you guys. Facebook user. I don’t know who you are, but thank you for saying good stuff. We got Rudy from Massachusetts. Scott is here saying Brent is in the house. Jai is here. How are you doing, guys? Glad you guys are here. So you’re going to have some questions. Please type them in for me or Brent as we go along here. Brent, one of the things you said the other day on one of you and by the way, guys, go check out Brent Daniel’s YouTube channel. My goodness, the stuff he puts out there, it’s so good. You hear real live cold calls. You hear Brent actually analyzing deals and looking at comps and helping people create offers. There is so much good content on Brent’s YouTube channel. Really highly recommend you go check it out and also check out the whole Celenk podcast as well. And one of your videos the other day, Brent, you said something so cool. You said, and I’m going to probably get this wrong, dumb wholesaler’s make the most money. Is that right?
Brent: You quoted it perfectly. I couldn’t say it better myself. Yeah. The people that aren’t obsessed with perfectionism, paralysis by analysis when you know what I mean. Like procrastination is the third P, but really, you know, if you’re trying to get everything lined up and be perfect, there’s going to be somebody that’s just taking action that’s going to win. And that’s what I mean by being dumb. What I mean by being dumb is just go out there and have a conversation. You don’t have to know everything. You don’t have to be like a gunslinger out there, know the response to every objection and know how to handle every situation. You just need to put yourself in a position to have a quality conversation with a distressed property owner. And the more you do that, the more opportunities you’re going to find. So I love that you brought that up because I think a lot of people just take it like really, really, really analytically when all you have to do is find an ugly house, get the phone number and talk to them. And you do that enough times. Those three steps you win. It’s impossible not to win, Joe.
Joe: And follow up. Follow up is so huge. Everybody most people that if you’ve been doing any marketing for any period of time, you’ve got a bunch of old leads that you’re sitting on. You’re like, you’re wondering why you’re broke. You’re wondering why you’re struggling and not doing deals. Oh, my gosh. If you just pick up the phone and just call your old leads, you’re sitting on a huge goldmine there. And if you don’t have any old leads, find somebody else who does them call their old leads for them. And you’re not talking about dumb as in like not intelligent, but just don’t worry. I don’t know any better. I don’t understand step seven and eight. But Brent said to do this, so I’m going to pick up the phone. I’m just going to start talking to people and asking them about their house. Right. That’s as simple as that. It’s not that complicated.
Brent: We convince ourselves through whatever, through creative avoidance, through uncertainty, that we can’t just pick up the phone and call people. And it’s absolutely wrong. That’s what I mean. I don’t mean to be unintelligent. I don’t mean to be a knuckle dragger out there. And you’re just a mouth breathing the whole time. No, I’m talking about just taking the action, just understanding if there’s an ugly house, you can get the phone number and you can call them today. You could do that to day and see if they would consider an offer on their property. And then from there, it just opens up the dialog. Whether you want to do something creative, like Joe is the master of teaching or if you just want to do something that’s simple, wham, bam, you know, wholesale that opportunity, then it’s there. But a lot of people just are ready to get going when they’re prepared to make sure that they understand that their list is perfect and they know what to say.
Brent: And the sun shining and their kids are in the other room and, you know, like they listen to Tony Robbins and now they’re excited and they’re pumped up and they’re mindset’s going. They do their affirmations and doing all that. Well, all that’s going on. There’s somebody like me and the other people that that are in there that just have already made the call, you know what I mean? So I think just I want to instill confidence in everybody that’s listening and watching any of the material or content that I put out that you can do this. Just don’t overthink it, because overthinking it is going to stop you in your tracks and you’re going to go down a rabbit hole that is not productive and not income producing. So just take that simple step of picking up the phone and calling people.
Joe: And it’s not being afraid of making a mistake because you’re going to make mistakes. Just get over it. You’re going to sound silly. That’s fine. Just get over it. Tom Croll always talks about massive, imperfect action. Progress, not perfection. Progress, not perfection. I was that guy. I was a professional student for three years. Right. Just study after study. I thought there was one more trick or one more secret that I had to learn, but I was always ready. Aim, aim, ready, aim, aim, aim. I never got to fire. So finally, for three years I was like, screw it. I’m just going to do what the guy says to do. And it was Cris Chico. And I think you know Cris. Yeah. I’m just going to buy I bought one more courses. I’m going to do what this guy says to do and I’m not going to change anything. I was totally out of my comfort zone. But guess what? Started doing deals, and I started like even tripping over myself, making mistakes.
Joe: This is why it’s so important to market for motivated sellers, because when you find a motivated seller and it’s just it’s so much easier. Right. I wanted to say this, too. Like I’ve always thought you should talk to five sellers a day if you could just talk to five people a day. It’s like almost impossible not to make money. Right, because and let’s say you don’t have any five sellers you can talk to. You can always jump on Zillow, look for a rental property on Zillow, call the landlord. You can look up older properties on Redfin that have been on the market over 30 days that need work. Call the realtor up and just ask the realtor questions about the property and make the offer anyway. I think don’t you think if people could just learn to talk to five people a day, that would change their lives forever?
Brent: Forever. Absolutely forever. And by the way, that’s a skill that never goes away. Like I have a lot of people, Joe, and I’m sure that you have this, too, that are like, well, I’m shy. I’m an introvert. I’m like I have a real big fear of picking up the phone. And it’s just like, wait a second, wait a second, wait a second. What is the goal here? What do you want to accomplish? What are you trying to do? Are you going there thinking that you are going there to just get money and make it and get this deal? Or are you going to go out there with the servant’s heart and say, listen, there is six to 10 percent of the real estate market at all times that are having some sort of distress motional, whether it be condition of the property, whether it just be what’s going on in their life or somebody pass away or financially, whatever it is, they have some stress and they need people to help solve that problem and they’re not going to solve it themselves.
Brent: So if you go out there and you say, OK, I’m going to find these people and I’m going to do my best to communicate with them, all of a sudden it takes it takes all the shine off of you and your fears and you sitting in your little force field hoping that nothing can get to you. And then all of a sudden you’re going out and you’re putting value into your community. And that changes the perspective. That changes where you’re putting it. You’re not thinking about the cause. You’re thinking about the effect. The effect is you’re helping somebody out of a really difficult situation, not the cause of. I’m scared to get on the phone. No, no, no, no, no. We go out there and we find these people and we go with the servant’s heart and we really see if we can help them out.
Joe: And you’re firing me up. I want to get on the phone and call some sellers right now. Let’s do it. And it’s just podcast. Oh, yeah. All right. One of the things that I wanted to talk to you about, Brand, was if you were like everything was taken away from you that came and kidnaped, you took you to Fargo, South Dakota or North Dakota, whatever it is. Yep. And they said, hey, you can’t go home to your family until you do a deal and your back is against the wall you needed to do. You need to make five grand. Let’s what would you do? What are some of the first things that you would do?
Brent: Well, you mentioned it, Joe. I mean, I think that you said it brilliantly before. And I think it’s really, really, really kind of an underserved opportunity in our in our business, which is I would reach out if I was in Fargo, North Dakota. I would go to the top real estate investors, the top wholesalers. I would Google it and I would call them up or show up at their office and say, hey, listen, I want to call all your dead leads. Anything that you don’t think that there’s an opportunity to. I want to call them. I want to just revive them. We can split the deal. But it has I mean, there’s no cost to you. You literally you could print them out and you could give me an Excel. You could put me in front of a computer. I’m going to hand dial them and I’m going to call every single lead. And there’s going to be a deal in there. There is going to be. That’s what I would do first, honestly, Joe, because it’s already filtered, right. At some point, these people went down some filter that made them a lead with a real estate investing company. So I would go hard at those. The second thing I would do is I would just go I would go around to the ugliest properties within a mile to mile of wherever I’m staying. And I would find those ugly houses. I would write down the addresses, I would put them into batch skip tracing dotcom. I would get their phone number and I call them and see if they would consider an offer if I couldn’t get them at the door. Just door knocking.
Joe: That’s simple. So, OK, you would you’d find some other investor that has old leads. Yes. You do some driving for dollars. Yep. Anything else?
Brent: I mean, the only other thing that you could do is that I would do I think you would definitely get a deal that way. No, no doubt about it. But I think the third one that you can do that is really cost effective is I would call any of the real estate agents. I would go on to Zillow or I’d go on to Realtor Dotcom or Redfin. I’d find all those real estate agents that sold properties under certain price point. So, for example, I would look at fifty percent of the median sale price. So if the median sale price in Fargo is two hundred thousand, I’d look for every house that sold under one hundred thousand and I’d look for the ugliest ones and I’d call it that. Agents say, Hey, listen, I am looking for a house just like this one. You just sold this terrible one with the roof caving it, all that stuff. What do you have? What do you have? What can you sell me right now that’s similar to that that I could do, that I could that I could purchase that needs a lot of love. Right. And I would just keep doing that. And I’d go down the line.
Joe: Do you know anybody who might want a property if I find one? That right?
Brent: Exactly. Oh, for sure, yeah, yeah, I mean, you’re playing both sides of it, but I mean, listen, let’s be honest. If you find a smoking deal, it’s you know, it’s not hard to sell it. You know what I mean?
Joe: It’s like I love that. I’ve seen you do this on YouTube before. And Zillow, you go looking in a city, the properties that have sold in the last year under a certain price point. And you can go and click through those listings, not all of them, but a lot of them will have not only the listing agent, but the buyer’s agent as well. You can Google them, you’ll find a phone number and call them. I love that. And you just say, hey, listen, I’m looking for a deal like this one you just sold here. And I love working with those kinds of realtors, too, right? Because those are realtors that aren’t afraid to list the properties in those neighborhoods. They know who the players are. And they know if you did get one like that, they could maybe help you even sell it and you could pay them a commission, right?
Brent: Absolutely. Absolutely. And it’s just opening up that conversation. And a lot of them will tell, you know, and this and that. Don’t get discouraged. Just keep going down. The more the more conversations you have and stacking those, the more opportunities that you’re going to get. It’s just a fact. I mean, the bigger your network is of people that know what you’re doing and know that you are a buyer in your area, the more people are going to bring you those opportunities because they want to get it done. There’s Jared. Nice shirt, Jared.
Joe: We’re getting a lot of comments and questions here. These are really good. Dusty, just subscribe to our YouTube channel. Looks good. Awesome. We’ve got some good questions. I’m going to get to these questions about your lists that you call and somebody has a question here about covid. And so we’re going to get to these questions, keep on typing them in. Awesome. You’re now calling these old leads. Brent You’re not going to go out and subscribe to mojos cells or some big triple dialer, are you? Or are you just going to pick up your phone and use your phone? What are you going to do?
Brent: I mean, if I had the budget, I hundred percent would get it. If you can get enough phone numbers because it just goes fast. I mean, if you’ve only got forty, fifty, one hundred phone numbers, you can call through that. But once you get into like 300, 500 phone numbers, you need to have the software, you need to have the what is it, the products I guess to be able to do that. The system to be able to make a lot of calls because the difference between hand dialing is like walking down the street versus a dealer is like taking a Tesla as fast as you can pedal to the metal down the street. I mean, it’s not even close, right? You’re just way more efficient with the dealer. Yeah. Yeah. All right.
Joe: So what are you going to say to these people? You’ve got an old list of five hundred leads. What are you going to say? How does the conversation go?
Brent: I would revive it again. I would say, hey, Joe, my name is Brent. We actually talked you actually talked to our company a few months ago about your property on Twelve Twelve Banana Street. I was just calling to see if you were still considering an offer on that property and then they go, yes, no, maybe. How much will you give me? Who are you? How’d you get my number one of those responses? Right. And then you just respond off of that. So you just make sure that you know that you’re keeping the conversation going and you’re actively listening and you’re saying, sure, OK, I got it. And it says in the notes here, Joe, that you were looking to sell this thing in March. We’re now in April. What’s going on? How can we how can we help you sell this property?
Joe: All right. The guy says, yeah, you know, I might sell it. I’m not going to give it away. What do you got?
Brent: No, absolutely. No, I don’t want you to give it away. What? No rethinking. I mean, if if the way that we purchase things, Joe, is we buy him completely cash. There’s no real estate commissions. We pay all of the closing costs. So you’re not paying all those little fees at the end, not knowing how much you’re going to get. What you get from us is what you need on this, minus anything that you owe in the property. So for an offer like that, how much would you be looking for? What do you want? A net?
Joe: I don’t know. If you have you seen the house, you had to be driven by it.
Brent: You know, I’ve seen it on Google Maps. Were real familiar with the property. You know, the first time we talked, you had said that it hadn’t been updated. The kitchen bathrooms haven’t been updated. It would just need a refreshing thing, right? Yeah.
Joe: Well, I just honestly, I don’t know. I don’t know what I’d sell it for. Just make an offer and I’ll take a look at it.
Brent: And at this point, Joe, what I would do just to pause real quick, I would look on Zillow and if it was over two hundred and fifty thousand, I would throw out sixty five percent. If it was under two fifty, I would throw out fifty percent. I do it like this. Well Joe, I’m just looking at it here and it looks like your neighbors similar condition to yours or selling for about one hundred and twenty thousand. Is that what you were thinking?
Joe: Oh no, no I would never, I’d never sell at that. Well, OK. What were you thinking? Oh, I don’t know. What’s the Zillow estimate on that? Again, I probably want something around there.
Brent: OK, got it. So you’re looking for retail for this property?
Joe: Well, yeah. I mean, the guy’s house down the street, another guy, he’s my house is nicer than we could go on and on this, but like.
Brent: Yeah. And then I would ask, well if you sold this house, where would you go to next? And he would say, well, I don’t know. And I’d be like, OK, this is somebody that wants too high of a price. The motivation really isn’t there. The timeline is kind of open ended and the condition is it’s a dated property. So every time we talk, Joe, you know, we’re trying to find the condition of the property, their timeline to sell their mode of. And their price, so everything that I would do in that conversation or trying to bring it back to finding out those four things. Now, if those four things aren’t in alignment with them wanting to trade equity for speed and convenience, then I would just say, well, can I refer you to a really great real estate agent that can get you the most for this property? We look for properties that we can add and invest a lot of money into. It’s obviously a risk. So we have to get them at a certain price. So it doesn’t seem to fit with you, Joe. I’d love to refer you to a phenomenal real estate agent that can help you get the most for it.
Joe: That’s good. All right. So now let’s say the seller is there is some motivation. Yes, there is some equity. The house needs some work. It’s a little outdated. Are you scheduling an appointment to the house or are you going to still try to make him an offer over the phone?
Brent: Listen, it depends on if you can get to the property or not. And I highly suggest in this market, the more that you can get in front of them, the I mean, the faster if you can get in front of them fast, great. If not, if somebody else is going to give them an offer quickly, then just send your offer over some electronic signature. But I would try to get out to that property right away and I’d get an advance agreement before I go out there that just says, Joe, listen, you know, we talked about the price. You’re good at one hundred and twenty five thousand. We can close this in 30 days. It’s all going to go through the title company when I show up. I’m going to come over today at 2:00. We’ll get the bill. We’ll get the agreement out of the way. But when I show up and you feel good and confident about this offer, is there anything stopping you from signing it? When I come over. Right. And then you’re like, no. Yes, I need to pray about it. My wife needs to talk to her mom about who knows? You know, there’s a lot of different things, but at least I know the objections before I go on that appointment with a client. You do have the motivation, Joe. Then I’m pushing to get those four pillars, condition, timeline, motivation, price. And if I’ve got that, I’m telling you, ninepeople will say 90 percent of the time you should be getting that contract signed.
Joe: Yeah. And the cool thing about getting old leads to another investor maybe has more experience if you’re new, that other investor can maybe coach you and help you through this. They can give you the contracts and the paperwork and they can maybe even go in that appointment with you. If it looks like a good potential lead, read one hundred percent.
Joe: With the confidence, knowing that this guy who you been getting these old leads from has already been closing deals. He has the money he can close on this, or at least he has the title company or the hard money lender, whoever. So you can have a little more confidence that you’ve got somebody behind you that can help close the deal, right? Yep. All right. So let’s talk about real quick, Brent. How do you make the offer, you’re in a new market, you’ve never been there before. How do you comp the property? How do you figure repairs? How do you protect yourself in case you make a bad off or whatever?
Brent: Yeah, I would just, you know, I wouldn’t overthink it. I would literally just use those around. I mean, if it’s me, I know how to break down and kind of estimate the cost based on the square footage and based on the retail price. But let’s just say that I didn’t know anything like my mind was a race and somebody just said, hey, if you lock this thing up at fifty percent of the Zillow price, you’re going to be in good, good shape or sixty five percent of the sale price, you’re going to be in pretty good shape. So I would just go, I would just do that and I’d let my buyers tell me that I was off, you know what I mean? If it’s totally destroyed. So if the roof was done, if the air conditioning was destroyed, if the pool equipment was destroyed, if there’s big major items, I would subtract five thousand dollars each time off of that offer price. And I’d come up with that baseline, the low offer, I mean, the max allowable offer. And then I would go there, but I wouldn’t overthink it too much. And I would just I would reach out to people in that market and say, hey, you’re buying properties. I’m locking this thing up today. Do you think that this is a good price? Would you pay this for it? And I try to get some feedback from buyers before I went out there and just try to presell it almost in a brand-new market.
Joe: That’s fantastic, because sometimes it doesn’t matter what we think the ARV is or what we think the repairs are, what matters is what our buyers are going to pay for it. And, you know, you just got to make the best offer you can get, right. Get at the lowest price that you can put it out there and see if you have any interest or not.
Brent: One hundred percent and I love it. Jamil Damji says something great. He says people are always talking about potential equity in this property, but the fact is the buyer determines the value. If I think, Joe, your property is worth one ten, I’m a ready, willing and able buyer. That’s what it’s worth. Now, if another investor thinks that the potential is worth, you know, it’s worth two fifty and they want to pay me one hundred and thirty for it and I’m getting it for one ten. That’s the buyer’s choice. It’s the buyer’s choice. I don’t care if it’s toothpaste or a bicycle or a car or a piece of property. If if a seller asks too much, the buyer determines the value. The buyer, not an appraisal, not the government, not a real estate agent, not a seller. The buyer. The money comes from the buyer who pays all the commissions, the buyer who does everything. The buyer brings in the money, the buyer determines everything. So if you’re going out there and you’re like, I don’t want to lowball anybody, well, what do you think the value is? If you think the values. Forty thousand, that’s the value. So, I mean, I think that that’s something for. People that have that kind of little issue of, well, I just don’t want to steal equity or I don’t want to lowball people or all these hallucinations that go on in our mind when we’re thinking about giving an offer to somebody.
Joe: Well, yeah, that’s crazy. But it also helps to like if you make some people a lot of people, I think are afraid of making a stupid offer. We’re afraid of making a real bad offer. But explain this a little bit, because you can renegotiate, right? You can back out of the deal if you have to talk about how you approach that.
Brent: Yeah, I mean, here’s the thing. Typically, in most typically in a contract, you have an inspection period and that’s your time to investigate the property to make sure that you can complete the transaction. Now, if you are assigning this, if you’re wholesaling this property, that’s your time to get in front of your cash buyers and or buy it yourself and make sure that you’re buying it yourself. I always think, Joe, you know, I think it’s silly to go out there and not have the confidence of actually being able to close on a deal. You know what I mean? I think if anybody starting out in wholesale, they need to have a conversation with somebody that has the money or the finances and the ability to close on these opportunities because it gives you so much confidence. You’re like, I could close on this. No problem. I’ve got it right. You can partner up with somebody and say, hey, listen, I’m super proactive. I’m going out there all the time finding kind of properties. When I do, will you partner with me to buy these? Right.
Brent: So you have that confidence there one. And then during that time, in your inspection period, if you’re putting it out there to your cash buyers and everybody’s telling you you’re way too high, then you can renegotiate with the seller, because if they’re selling you, it’s way too high. Even if you took it down yourself, it’s probably too high. So you’ve got about a 10 to 14 to 30 day window, depending on how big your inspection period is to be able to make sure that this is actually a deal. It’s great. I mean, you just you kind of get like a safety net to make sure that you’re not screwing things up. Now, what I will say, Joe, is as soon as you realize that you lock something up too low, you need to have a conversation with the seller. All right. Do not drag it on and drag it on and drag it on. And they’re packing up their house. They’re buying another property they’ve already got. They’re clearing it out. They’ve got a dumpster outside. Like, slow that down. Explain to every property owner, listen, don’t make any decisions until this inspection period is over to make sure once I call you up and tell you we’re good to go, then we’ll be absolutely good to go. And then you can start making those, you know, start taking those actions.
Joe: That’s super important because people make that mistake and it’s bad. It puts a black eye to our industry. I want to say to what’s really important, I think, is to have a good, hard money lender on your team, a local hard money lender, because no one, if that hard money lender will lend on the deal, it’s probably a good deal. If you won’t lend on that deal, it’s probably not a good deal, right? Yep. And the other real cool thing about working with hard money lenders is they know who the buyers are. Yep. So you can say, hey, listen, mister hard money lender, if you can if you can bring me a buyer, I’ll pay you an extra three grand out of this deal if you can bring me back. What’s that guy going to do. He’s going to call. Everybody knows he’s looking for deals and he’s going to get through to people that you can’t. The other thing is if that hard money lender says, yeah, that’s a good deal, when you’re out there marketing it to your buyers, you can tell them I already have the money in place to close on this deal. So I think having a hard money lender and your in your team is somebody that they need to be local. They need to be somebody I think that understands that local market.
Brent: And I think what people need to understand and this is just coming from my perspective, I was frightened to death of hard money lenders. I thought that these guys are like the mob, the mafia. Right. Like I thought that they would like coming, you know, if didn’t make your payments to some, they’re breaking your kneecaps or something, something crazy. Like, listen, this is just dudes that raised a ton of money, fund of money that they have to use. Right. They love you. They want to have these conversations with you. They want to look at your deals. They need to be funding these things all the time. So don’t make the mistake that I did and be intimidated by these guys that have whatever millions of dollars that that people have put into a fund with them. Don’t. They need you. They love you. They will. They’ll take you to dinners. They’ll put you on stages. They’ll do all sorts of incredible things. They’ll introduce you to all their buyers. They’ll do all of these things because they understand that the person out there hustling, finding the opportunity is really the core of this business. It’s the foundation of real estate investing and they want to make friends with you. So you just go there with the confidence of a mutually beneficial relationship. They want you there. They want you. They want you calling them and reaching out to them.
Joe: Good question. From Dan, related to that, here is how do you find the hard money lenders.
Brent: Google.Right. I mean, honestly, a couple of different things. One, I would I would check out if in your market there’s Meetup groups or REIA’s or anything, you know, where investors get together or even Facebook group pages, you know, on any of those things, you can ask who the best hard money lender is and people will respond and then just start a relationship with them and then test out a couple of different ones, see who you like the best and work with them. But it’s really not that difficult. I would probably either Google or just I would I would probably go to a Facebook group, Joe, and just any investor group in that market. And ask who is the best hard money lender and then just see what response you get.
Joe: And again, you want somebody local. I think it’s really a hundred percent. Jai says speed and convenience. I love that. The key to success from Dan is to basically try, try and try again. Awesome. This is Dan. Really great information. Thank you, guys. Dimitri is wholesaling in Florida out of Belgium. Close three deals this week. Can I do it? Yeah. Ring the bell very to.
Brent: That is incredible. From Belgium. I love it.
Joe: OK, we already we already put Gerard up there. I’ve got a question here from Dan, if I could if Brent went back to real estate as a baby, I guess new beginnings. Yeah. Would you get your license?
Brent: Yeah, I would. Yeah, I would. Not for the sense of of like going. I don’t think that it really educate you, but I think that there’s just I think that there’s a growing trend among the states to require it for wholesaling, you know what I mean? So I want to be ahead of that. I don’t know if it’ll go nationwide, but whatever, you know, I’d want to get ahead of that. And also, I think it just it gives you more credibility when you’re reaching out to real estate agents to say, hey, this is Brent with stunning Homes Realty, you know what I mean? And that’s a known brand that Steve Taryn’s brokerage here locally that I have my license with. But that opens the door and they’re like, OK, what’s going on? You know? So I think that it gives you it gives you an extra, you know, maybe 10 or 30 seconds of conversation with a real estate agent that they take you seriously and you get access to the MLS. And when you have access to the MLS, it just allows you to pull all the data like all specifically locally, all the data that you need to make really good decisions so you can kind of see everything. So there’s definitely some advantages to it. And it just it just gives you more credibility.
Joe: I definitely think the benefits far outweigh the costs. I think so there’s some extra disclosures that you have to do. But yeah, you certainly can make just as much money doing wholesaling, whether you have your license or not.
Brent: Yeah, I don’t think it’s required unless you’re in a state that requires it, but I think it’s a smart idea just for the future. It opens a lot of doors.
Joe: This is a huge fan of Mr. TTP.
Brent: Liz, love you. That’s awesome.
Joe: Gordon has a question here. What list has been best when cold calling and how do you get phone numbers?
Brent: So the driving for dollars list is always been the best just simply because they have to sell at a discount at some point, right? Well, they don’t have to. But you know as well as I do, if you find a property that’s in really rough condition or just dated the likelihood that the owner has enough capital to be able to invest into that property and fix it up, to sell it at a retail value is very, very low. So they have to they have to sell to somebody, as is cash, typically, because a lot of these properties are not financeable from traditional bank. So somebody has to go in there and get them cleaned up. So drive for dollars and phone numbers.
Joe: Where do you get your phone numbers from?
Brent: Oh, batch skip tracing dotcom. Yep. Basket tracing dotcom. You can use TTP. It gets you a discount on that discount code there.
Joe: And let’s talk about some of your tools. By the way, Dimitriou again posts here. I love this close to forty-seven thousand dollars and twenty two thousand six hundred deal last November. One hundred and eighty dollars into marketing. TTP equals early retirement.
Brent: That’s right, baby. That’s right.
Joe: Yeah. So let’s talk about tools real quick. What are some of your favorite tools for driving for donors?
Brent: I really like deal machine. We push that a lot. We use it every single day. I’ve got my disposition manager’s dad is semi-retired. I think having retired people or semi-retiredpeople going out and paying them kind of an hourly amount to drive for dollars is really, really, really smart. Also, you can virtually drive for dollars with them, which is cool. They do an attachment to Chrome and again, you get a discount with the TTP code.
Joe: So they got to DealMachine.com, DealMachine.com, get a discount there. Yet about pulling lists, pulling lists.
Brent: I really like prop stream. We’ve got that through TV data, dotcom, TV data, dotcom. And it’s part of my problem. I mean they’ve been around for sixteen years that you’re a really good job of getting all of the data and updating it. And I think it’s a really just incredible tool for anybody that’s taking it seriously because you can find out what they own, the property, the estimated equity, the estimated value for the comps. It gives you MLS access and a lot of areas that are in the disclosure states or non-disclosure states. So, yeah.
Joe: All right. So then skip tracing to get phone numbers from addresses. What do you like to use?
Brent: Batch skip tracing dot com. Yeah, I mean, it’s not even close. Guys, I’m going to tell you if anything from this, the best data wins without a doubt, because you can bang your head, you can get really, really, really cheap data. But you were going to go through a lot of hard because you’re going to be calling a lot of wrong numbers. Having the right numbers is critical. If you’re going to be proactive. Batch skip tracing doesn’t just white label the same thing as everybody else is doing in. The industry, they pull it from every single source that they can, four or five different sources, it’s incredible. It’s not even close to the quality head and shoulders above everybody else.
Joe: And then your dialer What do you use for your dialer?
Brent: Batch Dialer actually has Skip tracing, came out with a dialer specifically for real estate investors, which is pretty awesome and I’ve worked with them on that over the last eight months to make sure that was super user friendly and just easy for people to get in the learning curve or small. So The Batch Dialer for sure.
Joe: And Batch does text broadcasting too, doesn’t it. Yes.
Brent: Yeah. Batch leads does the text broadcast. Yeah.
Joe: What’s your opinion on where we’re heading in the next six to 12 months with specifically SMS broadcasting texting?
Brent: Yeah. I think that the more and more the carriers are catching on and more and more of the carriers are blocking, if you’re using the same keywords, if you’re using the same scripts, if it’s all coming out at the same time. So I think that the carriers it’s going to be interesting to see what the carriers do. I think they’ve got some update in June that’s coming out. That’s kind of I think having the people that have built their business on text blasting a little bit nervous, because I think that they’re going to they’re going to block a lot of those.
Joe: Do you think the same thing is going to happen to cold calling or what do you what do you feel like that?
Brent: I mean, you know, it’s a little bit different because it’s a different delivery, right? It’s just a call. So unless, you know, you know, Apple’s done something interesting that kind of blocks calls that you don’t have in your phone or it blocks stuff that is showing up as spam likely and you don’t even see it. So it’s really important to make sure that you’ve got a nice clean caller ID number, making sure that you’re updating that all the time. And I think, you know, if that comes to that point, then we’re going to have to rely a lot on going after the real estate agents, other investors and building our network more and evolving into prospecting other people besides just the property owners. But I think that that’s a long way down the line, Joe.
Joe: Yeah, well, there’s also direct mail. Direct mail still works. Yeah. You know, OK, how can people get a hold of you?
Brent: Yeah, I think the best place to start if you’re feeling the energy is at the YouTube channel. I really do. We’ve got a we work really hard to put out as much instruction, not as much entertainment, but more instruction. I mean, you’ve kind of blazed the way there, Joe, and really giving people stuff that they can sink their teeth into. So we’re following your lead on that. And so the YouTube channel is phenomenal. And then we’ve got a ton of resources at TTPInsider.com and that it’s getting harder to download and get to see TTPInsider.com.
Joe: And what can they get it at TTPInsider.com.
Brent: You can get the cold calling script. You can get a download on how to build up your cash buyer database. You can get a download on how to present your offers. You can get downloads on which lists of people how to pull all those lists. It’s pretty incredible.
Joe: All right. And then YouTube channel is amazing, Brent. If you’re a producer, people have put together all your content ever quit? Let me know. I’d love to hire them. But just people search for Brent Daniels on YouTube.
Brent: Yep, yep. Just Brent Daniels Real Estate on YouTube and it’ll come up. And I would love for you to subscribe and check it out. We go live every Wednesday morning and for a true question and answer show, Joe, we’ve got it to the point now where we’ve got the technology. Figure it out with Matt right here that people can call in and we can answer questions live on the show. It’s kind of like a Dave Ramsey ish type of feel, but it’s pretty cool.
Joe: Did you know, I don’t know if we’ve announced it yet. Me and Pace and Matt Theriault. Have you met Matt? No. Super cool guy does a lot of stuff on creative minds. We’re creating a new podcast called the Creative Financing Lab. It’s going to be the three of us similar to what you guys are doing with wholesaling hotline. Yep. You guys do that on Friday?
Brent: Mondays, Monday at five.
Joe: Yeah, that’s awesome. I love that show. You guys been doing that for almost a year now, right?
Brent: Yeah, over a year. Sixty episodes. That’s awesome.
Joe: Yeah. So just stay tuned for that. You’re all me and Pace and Matt Theriault.
Brent: You are going to blow people’s minds, Joe. It’s going to it’s going to that’s going to be exciting.
Joe: It’s going to be called Creative Financing Lab. We’re going to be talking about all things creative real estate. But I appreciate you so much being on the show today. It means a lot to me. TTP Insider, you get a lot of really cool stuff. I actually was just on your site the other day. I think looking at what you’re doing with your with your free downloads and my goodness, there are awesome, really high value. It’s amazing for free. TTPInsider.com and go check out his YouTube channel as well. Thanks, Brent.
Brent: Thank you, Drew. It is a true privilege. It really is. You’re the best of the best. Everybody loves you. You’ve got an incredible reputation, incredible podcast, incredible YouTube, incredible coaching. So I am humbled to be on here for sure, Joe, like for real. And I’m really excited for you guys. This triple threat podcast, it’s going to be bananas.
Joe: My big goal is to my big goal is to have more listeners than the wholesaling hotline.
Brent: Oh, you’re going to do it, I’m sure.
Joe: I’m getting questions and comments here. What’s the link of the show? We don’t know, we don’t have the link or the show yet, but it’s going to be Wednesday mornings, I think, around 8:00 a.m. Pacific called Creative Financing Lab. So you’ll see it on Pace’s channel, my channel, Matt Theriault’s channel. It’s going to be really good. All right, guys, thank you so much. We’ll see you all later. Take care, everybody, guys.
What are you thinking?
First off, we really love feedback, so please click here to give us a quick review in iTunes! Got any thoughts on this episode? We’d love to hear ’em too. Talk to us in the comments below.
Enjoy this podcast? Share the love!