Gavin Timms has a brand new format on REInetwork.com and he’s brought two of his clients, Pamela and Terry, on today to tell you all about it.
They’re about to close out 100k in their first month. Talk about massive action! They really dove into the program and ran with it, and the results speak for themselves. They’re here today to tell us all about it.
The real secret is in their partnership. Terry is the “go-getter” sales type, while Pamela is keener on the organizational side of things. By working their strengths together, they’ve managed to close on two really big deals right out of the gate. By being aggressive with their marketing, and consistent with their follow-up, they’ve found success.
We also discuss the importance of taking time off, both from the business and the business partner, so that we don’t lose our minds to real estate. It doesn’t matter how successful you are; if you’re miserable, what’s it all for? The best thing is that by going full-time into real estate, Pamela and Terry both have the time to pursue their other passions too.
To get involved in the program yourself, go to REInetwork.com/join.
Watch and Learn:
Listen and learn:
- New format for Gavin’s program.
- We talk with two of our clients: Pamela and Terry.
- How they got 100k in closing in their first month.
- Play your strengths.
Mentioned in this episode:
Download episode transcript in PDF format here…
Gavin: Hey, guys, welcome to the REI Network podcast with me, Gavin Timms. Hey, guys, welcome back to the REI Network podcast with me, Gavin Timms. I’m super excited about seeing a couple of my clients joining me today, talking about what they’ve been doing in that business over the last month. And the results have been insane. Just before I bring them and introduce them, if you are interested in working with me, go to REInetwork.com/join. We have a new format. That is awesome. We’re getting great results. And again, I’m going to bring over two of my clients right now and I’ll have Terry and Pamela. How are you guys doing?
Gavin: Also, I firstly appreciate you doing this right. I know literally we’ve just dragged Pamela on screen together to join me. And Terry, she she did eventually. So I appreciate you both coming on. All right. So why did I ask you to do this? For a couple of reasons. OK, and probably two or three reasons, really. I think the results that you’ve got in a short amount of time has been fantastic. And people listening or watching us, if you’re watching this on YouTube, we listen on the podcast, you’re going to see through this episode exactly why they’ve done the deals that they’ve done because of you’ll see personality types and obviously just getting on with it, wanting to identify that. The other thing is as well, the amount of deals that you’ve done in such a small amount of time. Right. So we’re just looking over the last month we’ve been working together. Now, Terry with your background, you have been a flipper before. You’ve done marketing on the direct mail side, nothing to do with really any other marketing channels. And you’ve always done it where you literally buy the property immediately. Right, for your own rehab.
Terry: Correct. Either we try some PPC, you know, paper clips, stuff, OK, but you seem like we put out one when we get back in the office or direct mail, was our main media correct.
Gavin: Got it. OK, so what we’re going to be covering, we’re going to dove back into how we got into the business and kind of that link up here. But we’re all going to be talking how that these guys have got six contracts in closing in a month from new marketing. That is insane. Six deals to which are closed, three that are set to close, ones about to go in escrow with formal contracts today, potentially to get signed with also a portfolio. So when we’re talking about massive action and can you make money in this business? One hundred percent and we’re talking about hitting it head on. I only have a few clients that really want to where I struggle to keep up with. Right. Which is a good thing because they’re obviously driving it forward. So that’s what we’re going to be talking exactly how they did that through this episode. Well, let’s jump back. Let’s start with you, Terry, and then we’ll we’ll bring Pamela in and how that transition. So tell us a little bit about you and your background
Terry: As far as construction. My mother actually was in construction her whole life. She got the Woman of Achievement Award. She built a lot of the houses downtown St. Louis. So I grew up kind of swinging a hammer. I started my own and eighty two went through my son’s training with the How to be a Framer, How to be a finisher, and then went on to did some stuff to learn how to do drywall, drywall. And so I’ve always been kind of hands on, on the construction side of it.
Gavin: OK, awesome, and then what was the big thing when obviously you came you came into the program and I want I’m always, always like you guys are the drivers here, right? You make it happen, not me. So I don’t want to make out that I’m like, oh, you weren’t even successful. Me, that’s far from it. But what made you want to get involved? What was what have you created to go? Actually, we need to to get better systems, better marketing and things going to do more deals. Why? What was the thought process?
Terry: Umm, couple we knew we were lacking in repetitive business. So we were kind of canvas mailing marketing. So we are marketing. So we would send out a marketing letter and all of a sudden we get blasted with one hundred forty phone calls and had to scramble to just get the two or three best ones and then everything would die and we have to do it again, over and over again. So we knew that we were missing something, that something wasn’t right. And then we watched the podcast of yours where you’d made a statement about closing four and then over the next six to seven months, you close like 50 or so. And so that kind of with me and what I was doing because I’m like a great one time closer, you put me in front of somebody. I’ll do almost everybody, especially on the phone or in person. The other thing we noticed, too, that we watched a lot of your stuff. Pamela here is a singer in a band. And so that’s one of her biggest hobbies. But she’s never done real estate before. And we noticed the way you had a lot of new customers and how you took them by the hand and people that never had any real experience and you walked them through. So it was a really good fit for us. You had the systems and the follow up that I was looking for, and you had the patience and the beginning knowledge that helped Pamela to move to the next stage.
Gavin: And I appreciate that. And then, Pamela, you got involved, obviously leaving your job. You joined and we have them conversations. And it was kind of amazing to me because I was impressed. The deals that you done from one time closes. And I was and I talk probably on every call. It still blows my mind that we couldn’t be so far apart. But my close ratio is much more and a lot of it’s to do with the the marketing. Well, maybe, you’re still closing deals. Obviously, you’ve got six in a month, so maybe I’m doing something wrong. But the follow ups, the follow up side of it, when 90 percent of my business comes from follow up and you’re also front end heavy on them closes, I’m like, if you’re doing, let’s say, three deals a month or two deals a month, you should be doing six or eight deals month total from that follow. Right. And I know that’s kind of something that we’ve been working on. And since Pamela’s probably been working for maybe four weeks or three weeks in the business, probably you’ve already got oneoff follow up from about three months. Is that right?
Pamela: Right. Going from three months.
Gavin: You said three months follow up. It was that the one that you like took Angela Kettner?
Gavin: Yeah. So but you see, like, the difference that that wasn’t happening. So my point is, is that when you got on the phone with the follow up from what was coming in. Right.
Terry: It’s like she’s got a problem. They actually get something on the stove. And so, yeah, she followed up and she followed up with this lady. And it’s going to be a really nice deal. So for the thousand other property and we’ve got it under contract for two twenty, it’s closing at two weeks. The lady actually kind of blew me off because she was really didn’t like trust guys. So Pamela took over the follow up on it and her and her personality were pretty much alike, both of them and worked finance in a previous job. And so she created a rapport and Pamela was able to get the contract we were probably about to push. It had been really hard for me to do.
Gavin: Yeah, yeah. But the good thing is, is that obviously that’s a huge impact immediately. Right, by taking that. And that’s the point. And as soon as you say, wow, if we did one of them, which she which Pamela did right. Was understanding the situation, change, understanding that Terry’s personality is close today, if you’re not close to them when they go to the next and it’s almost like that’s brilliant and that’s needed in our business, because if you if you’re not, you’re in the business to make money today. Right. And that’s what everyone should be doing. But at the same time, we’re going to be picking everything back up to go at it again. So I think doing that follow up is huge for you guys to identify. Wow. We’ve actually made whatever you’re going to make on it from that three months of follow up and doing more of that, because the more you do, the more you’re going to see that. That’s really good. OK, so let’s talk about so we came on and we’ve been doing cold calling, we’ve been doing text messaging. Right. And we understand as I teach everyone, text messaging is a very fine line with, you know, in the it’s going to go away. Right. But it hasn’t yet. And I got actually got some stick to sign double down on text before it goes. And people are like well that’s a stupid idea. Well, that’s an opinion, but if you’re doing it the right way and you’re not texting people when they’re saying stop and the DNC and you’re doing what you’re supposed to be doing, then you should be fine. And again, when it stops and obviously stop, just like why we don’t do ringless voice mail anymore. And obviously you’ve been you’ve been following that message. And we started off with, you know, when we set up a system, it’s almost like you want to settle the basic thing, right? You want like a basic foundation of maybe one VA, you doing some calls, you doing this. And then very quickly, you can then go to two VA to three VA and you can start to grow. And what I call is a marketing machine, right. In that you literally can just play with the amount of leads that you want. The more that you feed the machine, the more people work in the lead from always going to spit out. And it’s just literally a revolving thing. And I know that I think we were probably Terry, if I remember rightly, I think we’re about three days. And he wanted a second VA, right?OK, let’s go. I’m ready.
Terry: That’s my personality. Let’s go. Yes, but you slow down. Slow me down. We just put our second VA on today.
Gavin: So, nice, nice.And you’ve already got the cool thing is, again, you’ve been doing texting yourself. The reason is we talk about why should you do the texting yourself? Because obviously getting them on the phone immediately is absolutely critical. Yes, you can use a VA, but you’ve got to make sure that you’ve got to watch that lag time. So if we go to a VA texting, while I suggest that they do, is immediately alert you saying, hey, we got one, get on the phone with them right now, copy that conversation and then you can basically run with it and kind of lead.
Terry: And we took another one of your your suggestions was to take and get maybe like a daughter, something that I have a daughter who’s in between jobs, who, you know, I put to work immediately. Pamela went through and use one of your podcasts and set up all the campaigns and then went back to a couple of days ago. And of all the quick replies from my daughter, who is doing all the texting for us now, sending outt a thousand answering, getting through the, like, wrong answers, and I don’t want to call me anymore. And then as soon as she get somebody that says, well, yeah, I’d be interested in the offer. And she does exactly that in our CRM who alerts me and I get on the phone call immediately. So that kind of freed me up also.
Gavin: Yeah, absolutely. That’s awesome. And the goal is, you know, we had a good session yesterday. We were talking about obviously was the end goal. Right. Because the more that you do, we have to watch in this business because I know what I want. Right. And I know that the more that you do and when you’re handling the calls are busy, you’re going to get and you need to get aligned with exactly that, like bringing your daughter in now because texting is a lot. Right. It takes a lot of time when you’re sitting there and all of a sudden you just freed of hours of the day by delegating that somebody else that can obviously do it.
Terry: And then something else that we’ve noticed is the amount of people texting now are down to next to nothing. I mean, we’ve got a lot of people who are saying you haven’t got a text in a long time. So I think, like you said, a lot of people want, oh, that’s done. They’re going to get rid of it. So we’re hitting everything that we can hit because nobody is doing the texting anymore, because they got rid of they’ve gotten rid of it. Yeah, yeah, yeah.
Gavin: That’s really good. OK, so we’ve got let’s talk about these, you know, some of these deals. I know you’ve closed one. I think you closed one at nineteen five. Let’s do. Yeah, yeah, yeah.
Terry: We closed one in nineteen five. We just closed one that you’re talking about. We bought a thirty seven and closed at sixty six and we closed it one day at sixty six and it’s already funded. And so she did a great job the marketing of it. We’ve got another one that we are closing Thursday. We bought an eighty, we’re double closing on that day so we’re going to buy time for summer that will make about nineteen five and then we’re picking up another one that’s closing at the end of the month. But the hotels that we did, we bought it one fifteen. We cleaned it and threw it on the market. Pamela got a buyer at one forty two for which you got a buyer in the same week. So you know we figured that we should probably make about eighty five to one hundredthousand off the first year of being with you first.
Gavin: That’s great. I mean I love it. It’s one hundred eight hundred k turnaround is pretty impressive. And to be fair to Pamela as well, your brand new and you’ve kind of slide in and kind of just making it happen, running with it, which is amazing. I think for people watching this, it’s almost like it’s easy to work with because you just get on with it, right? You just do it. And it obviously works. Right. I think a lot of people is that they want to go, whoa. Yeah. What about if we do it this way? What about if we do it that way? And I’m like, we’ll just do it the way that it’s working. Like everyone should be testing this. No, there’s no everyone that I work with. Like when the main guy you guys now making money, you might go, well, actually we do this now. We tweak that and it gets. So you’re in a position to warrant doing right, because it’s working and you’re trying to make it better and you’re making tweaks, it’s nothing worse than someone going, I’ve never done a deal. I’m going to stop messing around, doing everything but you said and can’t get a deal done. Well, obviously, Terry, I know your personality is on our right and you’re the sales guy. So it’s not really you guys work together, like how does the like who’s doing what in the business? How’s that working out?
Pamela: So Terry really just kind of runs out this thing full speed without stopping and leaves a trail behind typically. So most of the time it’s me kind of cleaning up behind and kind of setting a path to get it going, too. So the organization, the administrative part that making sure we’re following up on a call or that daily to do list or here’s what’s set for the week. Those are more the things that I handle. And he’s the speed racer out there just pounding the ground and in people’s faces.
Gavin: So, yeah, but at least you understand that, right? So you play to each of strengths. My team says to me, they say it’s like having a, you know, a fishing net right where I’m just covered and they’re just trying to catch me like they’re just trying to, like, catch it and then organize it. Hundred percent say we want to kill every corner and just go and just get on the phone. And I do it still today. People are well, this is the process. Give me the number and I’ll forget by me doing that throws the whole process off. So it is a learning thing and it’s slow down. Wait, because if I do that, then that solves the problem for me, but then everyone else will have the cool. But what’s next day in it. Oh yeah. Because I didn’t follow that process. And so it is something to bother with when you get these processes in place and understand that the back hand, you can literally then massage the market in and when we open up another market. Right. So that’s the plan is to go into a virtual market. And once you’ve got you have the marketing machine right now. So that can be turned on and we can literally we can market anyone, no problem. That’s easy to generate. And now is easy. The hard part is, well, what do we do when the lead comes in? Right. Who’s going to go on the appointment? Who’s going to show it? Who’s going to do the picture? Who’s going to dispo it? And that’s the bit that needs work in a virtual market, because then once you have that foundation, you can then just turn on the faucet. More leads, more leads. And you can be in 10 markets if you want that or whatever you guys want to do. So it really is awesome,.
Terry: Like you said, that understanding the CRM that you set us up with in your view has really helped us through the CRM and has taught us about the class every Thursday, the CRM that is working really well. And it’s nice to have the resource to be able to come back and say, how do I do this? How do I do that? That works fantastic. And she is kind of like yesterday’s show. I took four calls during your show yesterday and all of my notes are. And so here you go, that she’s looking at me like I want to show, you know, we got these notes in their notes. Oh, yeah. So it is a work in process. The one thing that we really try to do, though, is once the time comes, we start with real estate and we sit down and we turn the phones off and we try to spend some time. This morning, we practice what we do. We cook breakfast together. And we took time. We just kind of talked about our workout or eating and how we’re going to do different things and we turn real estate off. And like I said before, Pamela’s got a hobby. She sings in a band, the lead singer. So she tries to do her hobby on the weekends, which she can. And then I play volleyball for a national traveling team. So I’ll take off on the weekend and play. So, you know, working together really works well. But you also got to kind of you have a little bit of time apart.
Gavin: Yeah, I think that’s really important. And a lot of people listening are going to be, you know, husband and wife or couples. Right. Having this very problem, me and my wife, we don’t work in the business together, but she does help me. But it’s kind of like the hand off. Once she’s running it, she’s running it. And I’m not involved because, again, just our personalities just doesn’t work. And a lot of people can work together. We just need to understand that. And I think the biggest thing that you’ve just said is the turn off, because I was worried about her coming into the business and working is I don’t want to just talk real estate. When I’m done, I’m done. And I want to talk about in the evening and I want to talk about what you know, why a deal fell out or whatever the good and the bad. Right. I just don’t want to talk about it. And the easiest thing is, is what I’m going to tell them about when it comes to that. So I think it’s good that you set that boundary and you both understand it because there’s so many moving parts that it does drag people in and all of a sudden then it becomes a problem right in the relationship. All we do is hold real estate in the silks and money’s not everything, like can you set to make a hundred grand in your first month, which is fantastic. But at the same time, if you miserable. What’s it all for?
Terry: The other thing I noticed it really works well is we have our hats. She does the administrative stuff. And when it comes to that kind of stuff, I ask her, what do you want? How do I do it? So I kind of make sure that she’s the authority on the administrative stuff and she works for the ministries when it comes to the sales process. We have a very clear sign part way I’m selling. And if I if I ask you what your opinion is, then you’re allowed to do it. But why? I’m so, so young and so being able to check your ego and be a little bit humble and realize that she’s got her, I got my hat. And, you know, this is the way we work that seems to work really well, too, you know. Yeah.
Gavin: No, you’re 100 percent. Right. The other thing is and you might be doing this because you’re obviously on the front line a lot. What you need to do and you might already be doing this and saying, Pamela, I’ll follow up so you can just say, hey, my partner, my girlfriend, my wife, whatever, however you want to position. Right. And you can say, hey, we were in the business, she might follow up with you and check in. Just give that that personal touch. She might reach out. And then when that handover is done, how much can do? Obviously, that follow up. Right, because you’re obviously not gonna able to close everyone you talk to. I’m just mentioning. And people like the husband and wife feel right. They like the vibe. They there’s more people that these people trust it. And it’s not like a big company and things like that. So just position like, yeah, you’ll probably check in and doing them handover’s will help a lot, especially when she then starts to build that rapport through the follow up stage and either bring you into close or just close itself. Because we talked about the lady is personalities. Some people don’t want to deal with men and women and you just got to not get people get too personal. OK, cool. They don’t want to talk to me and they want to watch someone else. But what as we’re going to do, like, does it matter? Let’s just get it done. Well, that’s awesome. So what would you let me ask you and then we’re going to wrap this up. But let me ask you, obviously, you’re in the new format, right? Obviously, with our calls, we go we do three to four live calls a week in the group. Everything’s on video. If you want video on this very interactive, what do you think about that? How have you and you can give me your honest opinion. I’m not actually asking this question before, but what do you think with with that the interaction of what you feel that helps a lot.
Pamela: I really like it because for me, being like newer to the whole environment in general, it just it’s helpful because you get to hear different perspectives of other people and how they’re doing things. And you can ask any question. And a lot of times someone else has already gone through that experience or is having difficulty over in this side of the system or this is what they’ve done and they have something to share as far as like being able to navigate it differently or just a whole different idea that maybe someone else hasn’t shared yet, you know, and maybe like for me, it’s something he’s always done, but someone else in that group never even thought of it or vice versa. So it’s kind of helpful in that because you can have that camaraderie of even the whole group environment just giving their own feedback and different ideas of the way they’ve handled the things. So that’s been really helpful for me.
Gavin: Now, that’s really good. And you’re exactly right, I think because we used to do is like a webinar. So I just be me on the screen just talking and then you just ask questions and I’m doing it like that for years. And I was like, there’s got to be a better way. So we started to do this and everyone really liked it. And it was big because obviously I now work on the business not in it and I have done for years. And as much as I’m involved in and knowing what’s happening, you can lose touch, right? You kind of lose that like feeling of it’s your first time and hearing it from me going, yeah, I was in that position. I used to do that. But you don’t you don’t get the feeling of his job in the group or whoever was just on that first day will go in through that exact thing as you. Well, this is how they overcome it, which is way more powerful than anything that can come out of my mouth. Right. Because they’re like, oh, wow. Like he did it or she did it. And that’s not that’s not like disrespectful. But I used to think that, like, if they can do it, then I can definitely do it. And that’s the whole point. And we all have people doing for five dollars a month making fifty, sixty K consistently every month. So we still have a retention of the of the the hiring guys and gals, but also the new ones to try and elevate everybody. Oh it’s been a game changer from what I see and results, and especially with those meetings so frequently, we’re not waiting for a week to get something done with light on. It would change in it. And we’re going to get these results. Don’t. Otherwise, you know, if you’re not doing that, in my opinion, then you just waiting around.
Pamela: So we were talking about it last night and just the different seasoning levels of people is really helpful because you do get that low entry level. So you don’t feel like if you ask a question, everybody else already knows the answer and you’re going to look like a fool, like there’s other people that don’t know either. And if feel just really I feel really comfortable for the most part, just asking the simplest questions, but then also hearing things that they have to cycle through a few times to really grasp because it’s further down the road than where I’m at right now. But just the availability to have all of that. And it kind of helps the momentum,
Gavin: I think, too, and that you can every day, you know, you’re hearing different stories or sharing different information. So it’s like, oh, yeah, oh, let’s do that. Let’s try that today.
Gavin: Yeah, it keeps it fresh. No. Yeah, no, I couldn’t have done any better. Exactly. Right. That was the that was the point. And there’s no egos in the group either because I don’t have it and I’ve not got time I can’t deal with anyway personally. So never mind anybody else because we’re all at that level. That’s why there’s never a stupid question, because we all started with zero at some point. So you’re exactly right and a lot of it. And we’re going to push for more things in place as well. We’re probably going to it’s even though it’s a mastermind mindset and now we’re probably going to try and have a like an elite group. We’re going to do like an elite group and then maybe like a beginner session for I’m not going to call it beginner, but it’s kind of brilliant at the basic session of just the little things that you forget, how to pull the leg, what criteria’s and things that are super important. Right. But also give people a goal to try and get into kind of the elite group of making maybe one hundred a year. And we’re going to develop that as we go. So I’m pretty excited about that. But no, I appreciate you both kind of getting on and talking again. Congratulations. 100K inclosing in the first month is is it’s amazing. And I think people are going to get a lot from this to just say I’m going to take massive action. Right. Well, let me ask you, what would you say to somebody like if they’re new, trying to get started? I mean, what would you what would your advice be? And you might try
Terry: To me, you would be exactly what I did. I didn’t try to change your system. I came on and said, OK, you’re successful. You show me your system and you set your system up. And I ran your system exactly like you told me to do it. You said, run two VAs, do this, do that, do that. So I just put a lot of faith in you. And I said, OK, next 90 days, I’m not going to change anything that you do. I’m going to go exactly what you you told me to do and I’m not going to change it. And if I have any questions, I’m going to call you directly or I’m going to call Rob or you’re me or somebody else directly. And I will say, OK, here’s my question. That is, I am on your system and you guys have been great to respond. The system has worked better than I thought it would work. And, you know, I’ve I’ve heard a lot of negative about, like VAs. But the way you set your base up, everything’s been positive. So you got to trust the system. You’ve got to got to pay somebody to teach you something that you need to let them teach you what they need, the tissue. And then, like you said, maybe in six months or nine months down the road, maybe changed a little. What, you got some experience now.
Gavin: I appreciate that. What about you? What would you say on the someone’s new I mean, what would you say?
Pamela: I think the biggest thing is just get out there and do it. I know at the beginning it was Terry was in this training alongside another portion and it was get out there and just get thedeal. Just put yourself out there. And I think the one that I did where Terry was kind of the bulldog and we needed the calmer, quieter, slow processing person. Yeah, I was scared to death. Am I? I’ve never done this. I don’t know what to say, really. And I fumbled my way through it and it worked. But some people just need to know that you’re trustworthy and that you’re there and that you’re kind of listening and that that’s the part that they need. So you never know what you bring to the table that someone else might need, you know?
Gavin: Absolutely. No, that’s awesome. Well, I look, I appreciate you both. So thank you again for coming on, sharing your story. I think people are going to get a lot from this. Guys, if you want to join our group, go to REInetwork.com/join. And these are two people that prove that it works. OK, the results have been insane. Talk about ten times your investment. That’s exactly what’s been done. So if you’re interested, get in touch. We’ll have a conversation. And we’re more about, by the way, is not if you have the money, it’s about the personality you’ve got to be willing to give to share. And it’s more about personality for anyone that’s in the group knows me. We don’t have anyone because we don’t have it on anyone that they talk to coming in. It’s about if they’re not going to be a good face. And now I don’t care if you’ve got a million dollars other knowledge. It’s about personalities and because you’re going to spend a lot of time together on these coals and there’s nothing worse than having someone that no one could stand on that right now. So, guys, I appreciate you both. Again, if you’re watching guys like and subscribe to the show and go to REInetwork.com/join, come and join us. Any last words before we’re done?
Terry: If you have any deals for us, and we’ll send them to Watenpaugh and Gmail dot com. We’ll look at all of them and help in any way we can.
Gavin: Thank you, guys. And guys, remember, hit em up, we will pull that email in the notes. If you got any deals on the contract, you want to JV. They are buying as well as wholesaling wholetailing and even creative finance. And we never even talked about that deal, Terry. Oh, we didn’t know I was going to do. Let’s just give a two minute on it because it’s awesome.
Terry: Like, OK, so we got a call that said you need to go right away. He said in his interview with people right now, are you St. Patrick’s now? So we ran out, showed up, and he’s sitting on the porch and there’s like three people inside. There’s a guy from Israel doing virtual. There’s another guy out of California doing virtual and then two local wholesalers that are there. And everybody else ran in and started taking pictures and we sat down next to it. And so we sat down for quite a while and talked to him. And then everybody came out and they talked to him for a few minutes and in their contracts and we continue to talk to him. And then we walked the house with him. We took him inside. We kind of walk through whether you can talk to him about it. We found out that he wanted 70 a couple offers that seventy five seventy seven point sixty seven sixty eight, after talking to him, felt so comfortable with us. He said, hey, I haven’t eaten. Can we finish this conversation over lunch? So he took us to Cracker Barrel and we sat down over Cracker Barrel and we talked about the deal and then why we’re talking. His mother had died. He had to prove it, to enforce it that nobody had ever even asked him about. And so we talked to him. We got seventy thousand dollars and we made an agreement to go look at the horse in the house. We went over, looked at the floor. Some house. This house was immaculate is unbelievable. You know, I would live in it and do nothing to it. And it’s valued at one sixty one sixty five as it is, three bedroom, two bath. And he said, well if you’ll give me one thirty, I’ll take it. And he goes, my biggest problem right now is taxes. He said, I’m so worried about capital gains because of the inheritance stuff. And I said, well, if it’s taxes, why don’t we just give you a little bit each month? And then that way you don’t have to claim. And the guy said, oh, I’ve never heard of that. So I sat down and explained to him how you get around capital gains by doing so financially, but then had to be eight years ago that. And he perked up and said, you know, that sounds perfect to me. So we ended up getting the house under contract for eight years at nine hundred dollars a month. And it’ll it’ll rent out of fifteen hundred a month. And we’d like to do a thing to it for eight years. Zero interest, zero percent down, all because he was afraid to put in capital gains. Amazing, amazing rates going the extra yard of just investing and people I it we could talk about one hundred things, but that’s not the important thing that we do. Right. You invest in the people, not the real estate. Invest your time in people. The real estate’s just come, will come. I think that’s exactly what you did. You solve the problem. What’s the problem? Capital gains. This is how we got around it. Genius. He’s more than happy. We’ve not mentioned about money down. Right. You didn’t get into I think this is really important from a sales guy. This done is that people will use words that get them in trouble. Well, how much interest do you want? How much do you want down? He’s not asked for interest. He’s not asked for a down payment. So don’t come out with things that have not even come up in conversation. You just expect that they don’t want anything done. You expect zero interest and you’re solving the problem. You come up with a monthly fee over the allotted time and that works. And then if they say, well, how much we give me down or hey, is there going to be interest on this, then you can cover that objection to to put to work late in the day or so. That’s also great in nobody in front of us did any report with this board. I mean, they just would run by had a contract and, you know, and let us know. Let us know. And and so we sat down the stuff with him and just let everybody run by and we were there forty five minutes and everybody was gone. We’re the last person standing there talking to him. And we talked about him and his girlfriend and his kids and his business and how he put in invisible fences. And we never actually even brought up the house until you asked us if we could walk it. And then we’re like, oh yeah, probably I’ll get to that. So absolutely. That’s I mean, yeah, it’s game changing, but that’s again, why you’re doing what you’re doing. And I think people need to. But also understanding and it takes experience, doesn’t it, that you obviously sense that there was something that you’re not going to go and take going to lunch and spend two hours and he wants three fifty grand over retail. You obviously knew that from the numbers we’re going to work on, the first house is leading to another. So we all kind of was in line. Made sense. But you told us about. Reaching out to property managers that there always have buyers, property managers and I actually have some rental properties myself, so I called my property manager and he goes, Oh yeah, I got four people out of California looking for everything you had. So going there, we already knew that we probably had a buyer in hand. We already knew that you start when you guys were looking in this area, that they were looking, you know, in the one hundred one hundred ten. Right. Because to them, one hundred ten is unbelievable that they can’t buy property for that. And so when you saw that 70, we’re like you. So we just have to take time and make sure we built before to get it done now. Absolutely. And and the property managers and the realtors, you know that the game changing contacts are really hard because if you’re an out-of-state buy and you want a rental property, you’re going to call property manager. I mean, or real. I mean, that’s what you’re going to do. They’re not going to look for the wholesaler. They just want to go and go. This is the person that’s managing. We find me deals. Right. And that’s why your property managers are so important to you to doing deals really good.
Gavin: Well, guys, I appreciate you and I. We just wrapped up, but then I was like, damn, forgot that that that’s a key thing. So I appreciate you. Thank you for joining us. Looking forward to continuing to work and kind of grow and see what you guys do over the long term. So thank you. And guys, if you’re watching, go to REInetwork.com/join. Make sure you like and subscribe.
Terry: Appreciate you. Thank you.
Pamela: Thank you.
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