04 Dec Interview with Jaelin White
Jaelin White talks about how he wholesaled his first deal in high school in the super competitive market of Phoenix, and is now wholesaling virtually in three markets.
Video Replay of Interview with Jaelin White
Podcast Replay of Interview with Jaelin White
00:00:00 Hey everybody, thank you for joining us for today’s episode of Real Estate Disruptors. Today we have Jaelin white. What’s going on man? How you doing? Doing good. So He’s here to share how he started wholesaling in high school and it’s not running a massive wholesale operation at age of 21, 2120, just turned 22. But yeah, just crazy crazy. Uh, have this your first time tuning in. I’m Steve Trang, broker, owner of Stunning Homes Realty, founder of the offer fast homes APP, the only app you need for wholesaling. And I’m on a mission to create 100 millionaire. So please message me if you need anything at all with your business. You’re excited for today’s show. Please give me a wave, please give me some thumbs up. And as a friendly reminder, I don’t charge a dime for this show. I don’t make any money doing this. So please, here’s all I ask.
00:00:42 This is what it costs for you to listen to this show. If you get value today, please tell a friend. Either share this episode right now, tag a friend below, or tell me best takeaway from the show later on. That way we can all grow together. And don’t forget this is a live show. So please post your questions. Jaelin’s happy to answer. We’ve got some of the questions from you guys beforehand, but we got a uh, this is definitely a q and a for all you guys are watching right now. You Ready? Absolutely. Let’s do it. Alright. So what in the world get you into this back in high school?
00:01:13 All being broke. First off, everybody sees me in, you know, you see the hair or whatever and you just assume that kid has rich parents. Like every single time I mentioned I’m in real estate. Oh, so your parents in real estate to like, no, I was broke. My parents moved away and I was kind of couchsurfing and um, seems like such a long time ago now. But couch surfing in high school. Yeah, because they moved away. But I was in love, you know, I’m married now so I was going to fight my way to stay here somehow. So I was, yeah, 18, um, well 17 even, you know, when they moved, I wasn’t at my grandma’s and I just caught it, kinda started sleeping around on her, her parents’ couch, friends’ couches, stuff like that. And I wanted to make money. I mean, I want him to have a Lamborghini.
00:01:57 I was, you know, what kind of 18 year old doesn’t have those kinds of Greens, you know. Um, and I went to one of the free seminars and by the way, which cameras on, I don’t want to be looking at. You guys are like, this guy’s crazy. Um, they, they, they, they rotate it. Perfect. Yeah. So went to one of those free rich dad poor dad seminars and just heard about a wholesaling. Her Dad actually paid $300 to go to the, to send us to the paid seminar because he’s like, you know, your entrepreneurial, maybe you guys can buy your first house with what you learn. And he’s not rich. He’s a truck driver, you know, he’s far from being rich, you know. So that was it. Always just a bet on you guys. That was a very big bet and it’s funny too because he has an Ebay store and I’m about to buy him a course for, is Ebay store to grow, kind of like return the favor, you know?
00:02:41 Right. Um, hopefully it makes a lot of money with that. But um, yeah, so we went there, didn’t learn much because obviously they’re trying to pitch you on 30,000, $40,000 training, which is respectable. I’m sure people, you know, kill it with that. But I didn’t have the money. So, um, I went home, got on Youtube, Sean Terry, obviously, you know, a bunch of these guys and you know, went to Shawn Terry’s meetup and just saw it was possible. And obviously I had a lot of late nights like anybody, I’m sure some of you guys may be sitting at home, have late nights, like, man, I don’t know if real estate’s, maybe you’re doing deals. You’re like, man, I don’t know if I want to continue in real estate, you know, we all, we all have those thoughts, you know. And so I was dealing with those, you know, starting out.
00:03:21 But I ended up closing my first deal and made 12 grand before high school graduation is two days before graduation. And then you and you pulled Alex and do this too. Yeah, I mean the dude took massive action. So I mean, I guess I’m. All he saw was that it was possible. And then thank God he was going to join the navy. Thank you to everybody who serves our country. But I talked him out of it luckily. And uh, I guess I was Kinda decent at sales so we didn’t go to the navy. It was going to go to college, didn’t go to college. Look, I mean crazy to some people luckily didn’t go to college. Now he’s killing him. Um, but yeah, I just remember walking around on campus signing all that, getting all the papers signed off to like, you know, graduate by your teachers or whatever.
00:04:05 I don’t know what they did back in the day, but we had to get papers signed and go into my friends and saying, look, I know people have been talking stuff, but I made it happen. Look at my bank account, you know I had like 12 grand in my bank, literally on the amount of the, of the wire that came in as the amount I had in my bank. I had no money. $10. Earnest money I borrowed from her dad. It’s crazy. This is 14, 2014, Twenty 15, 2015, May 18th, 2015 was the day I got that wire. So. Okay. So let’s talk about that first deal. How did you make that happen? So I had done a lot before that. I mean you see the first deal I talk about, I did 25 bandit signs or 20 bandit signs somewhere around there and I got a little lucky obviously because I got my first two deals from that batch, but it seems lucky because you don’t see the four months before that have hours and hours studying youtube videos, hours and hours calling agents.
00:04:56 I went on agent appointments, like acting like I knew what I was doing. I had no clue. It might as well have been 125 percent of the ARV that they’re asking. I didn’t know. You know, I kinda knew, but I didn’t know. No, you know what I mean? So going, screwing up in those situations, make them my own bandit signs, screwing up in those situations, you know, and not getting any leads and stuff like that. And then I started kind of hustling, trying to make side money because I’ll be honest with you guys, I hear like I’ve got students and stuff. People are like, I don’t have a couple hundred dollars bucks a month, put it into marketing. I’m like, well you don’t have a lit arms and a leg, you know, because you literally hustled for 200 bucks a month, put it into marketing, which is what I was doing.
00:05:37 And eventually got my first deal. So awesome seeing signs. Guy called me. Air V was like 100 K in Avondale. Yeah, he was asking for actually 25, got them down to 15 and sold it for 30 on a double close. So I paid closing costs and so called agenda bandit sign, right? Yep. Schedule the appointment. I actually didn’t schedule the appointment because he didn’t want to go meet at the, at the property. He was like, I want 15. I’m like, okay. Yeah. Where do I send the contract? I was ready to close, man, and I’ll tell you, when I heard 15, I was like, I wanted to scream because I looked at the zestimate. It was 96,000, you know, so, um, yeah, it wasn’t an easy deal. I had a buyer to back out actually before that, learned a few names that I should avoid in the phoenix market.
00:06:21 Um, excuse me. Couple people stole a little, a couple grand from me in earnest money that was supposed to literally the buyer put in earnest money. He then backed out a guy who said he’d returned the earnest money to the buyer. I let it get released to him and he never gave the earnest money to the buyer and you know, everything we’re ended up working out. But it was just, it was a mess. Learning the right names to deal with. So Gosh. So what will you do differently if you were starting over today? Man, I, I’m talking too much, but I guess that’s the point. I would probably go bigger faster honestly. So in my opinion, if you’ve been in the business for a year plus and you’re still talking to sellers, you love having a job. I mean you have a full time job. I don’t know if you remember me, but I was literally my wife sitting in the corner here, but I would be in the shower.
00:07:17 I get a call from direct mail or whatever, bandit signs and I would get out and answer it like I’m in the shower. You, that is not a life you want to be living ideally. You know what I mean? It’s a high paying job. It’s a high paying job. Absolutely. So yes, I was making six figures at 18 but I was also living a very stressful life, you know, um, and I didn’t like that. So what I would’ve done is I would hire an acquisition manager as soon as I had, you know, 30, 40 grand in the bank instead of playing it safe, you know what I mean? And even like, I didn’t have like a reliable acquisitions to like a year and a half ago for like my first two years in the business about I was doing it all myself and friends would tell me, hey, why don’t you just continue following up with your own leads?
00:08:00 Like why go through the struggle of finding somebody to do you know, to talk to you. Like even Alex, we’re in Sedona. And he was like, I was complaining because I was like, man, I had an acquisitions. He’s just not making the calls. I had to fire him, you know? And then he’s like, why don’t you just keep doing it yourself? I’m like, well that’s, I don’t want to do that. I’ve been doing this for two years. You know what I mean? So I think it’s also having the right friends. Right, exactly. Alex is a beast and he’s crushing it now. But a year and half ago you guys were still business becoming business owners versus just, um, uh, you’re, you’re, you’re doing it yourself versus having people to do for you. And actually had a good conversation with a friend a couple of days ago talking about like, you know, you’re taking that leap now where it’s about people, exactly the systems versus talking to the seller.
00:08:42 Yeah, absolutely. Very cool. And that’s what I always try to say, you know, I’m very upfront about the way I run my business and you know, I have a personal brand or whatever online. And I’m like, dude, if you want to get to 100, $200 a year in wholesaling, it’s easy. It’s very simple when you want to get past that, get to half a million, a million dollars a year, you’re dealing with a lot more people. The processes leadership, it’s a different skillset. And answering the phone, following a script with a motivated seller, you know, it’s so different world. Absolutely. Leadership is one of my favorite topics to discuss. So, uh, what do you attribute your success to? Man? I would say relentlessness to chase the goals. Um, you know, I got clear on what I wanted and I took the action in a lot of people, they don’t look at their numbers and they’re like, they’re measurable action.
00:09:36 They might say, well, you know, I tried bandit signs, but it didn’t work out. Okay. How many did you put out a week? How many leads did you get? How many of those incoming calls do you answer live? How many of them went to voicemail and you never got a hold of because probably if it went to voicemail, someone like me when I was 18, 19, just getting into business, closing deals would answer the phone. Live call, got the contract in our later and that happened multiple times. Well, there’s more than one band assign every corner. Yes. And I attribute a lot of it too. Um, my faith, you know, to be honest, I don’t know how many people come on here and talk about their faith, but I’m big. I’m big and I believe in Jesus. He’s my Lord and Savior. And I’ve spent a lot of nights praying and I’ve noticed honestly that when I tied the most, that’s when I had my biggest month.
00:10:21 It’s just, it’s weird. There’s probably at least one person shaking your head saying, man, oh go there again, but I’m telling you, just giving it will change the trajectory of your life and where your business is going. And when I’ve had the months where I’m like not giving. And I’m just like, Oh, you know, I don’t need to, you know, this month is, you know, I don’t need to give anything. You know, we gave so much last month. Things slow down, you know, so kind of we try to be very giving now. We were just shopping at the mall and instead of like shopping for ourselves, we go do the order, you know, the kids, what’s, what’s it called? I think something angel. Oh yeah, Christmas angels. Yeah. So we go shopping for these kids and I mean it’s not trying to make us. I wasn’t going to mention that, but we’re talking about giving and it just feeds your soul, helps you.
00:11:07 I don’t know. It helps you take that next, that next level. The world works in mysterious ways. Absolutely. Yeah. That’s incredible. Uh, so obviously we’re doing well and one of the most competitive markets in the whole country. I don’t do phoenix anymore. Or you don’t do things? No, I haven’t done Phoenix since like 2016. Okay. So maybe I should talk about that. So what mark is arguing then? So I’m in Memphis. We also do deals in La and we just added in some marketing and Wisconsin because I told you we moved there and we’re here for the winter night in Arizona. We’re actually going to la, but you know, I just had some family stuff dealing with and just kind of, you know, spending time with family and everything straightened out. And Wisconsin, we lived there full time now. It’s beautiful. I love it. Different ballgames. Slower, you know, it’s nice.
00:11:52 Um, so yeah. So that actually leads to the next question because I, Angela Baron wanted to know what software are you using or how are you copying out of state properties? Do it. It’s very simple. Zillow and Redfin, I mean people. Well, number one, probably there’s a couple of people are going to comment, you can’t use zillow to comp properties accurately, but probably because you’re not using the map filter where you can actually like look at, you know, uh, last 90 days. Last uh, last, what is it? One hundred 80 days I haven’t eaten again, some of my mind’s like we ordered uber and somebody stole it off the front, so it’s like I just wasn’t meant to eat today, you know, I’ll wait. But, um, you know, it’s very easy read funds got the mapping features while Redfin for us we’ve noticed has a lot more pictures in certain markets than zillow.
00:12:39 Zillow might not have the mls pictures that came, but zillow sure as heck does have the comps. It’s got the sold price. We don’t look at the Zestimate, you know, we don’t make our offer off the zestimate. That’s foolish. But we do comp with zillow and with redfin when there’s not enough pictures on Zillow, but it gets to the point where like in Memphis, we know, uh, three, eight, 1:18 on a three one, we need to be somewhere around 25 to 35 depending on, you know, what condition it’s in. So you start to know what zip code, what price points. Yeah, I mean it gets honestly, again, going back to one of the things I do differently, I wouldn’t jump around so many markets as well. So once I learned that you could do deals in another market easily over the phone, which Memphis was the first market I did that in.
00:13:22 I started doing everywhere. Houston, I’ve, I’ve done deals in Houston. I’ve done deals in a dude. I, I’m drawing a blank, but I’ve drawn deals and many, many big markets that I shouldn’t have been involved in. And I would go a month or two in the market, do pretty good, get like a five x return on my marketing and be like, okay, let me go to another market, see if I can get a 10 x when in reality if I just build the buyer base, build more strategic partnerships, I could’ve been at a 20 x, you know, in, in a year. So that’s what I would have changed is I would have dug my heels deep in even doing virtual and Phoenix because virtual to me is just not going to the property. Or You could do it in the same market, you know? Exactly. Uh, so, um, what are the challenges we’re experiencing in the, in the current market?
00:14:05 So for us, honestly, I obviously lead flow is always going to be one of the biggest challenges, but we do a lot of cold calling, like a team of cold callers and sometimes it gets getting too many leads. So finding quality people. The hardest thing for me, I build my, well, quality dialer’s is actually easier for us. It’s quality acquisitions to follow up with the leads who are relentless because you need somebody on the phone for 40, 50, 60 hours a week if you’re going to be getting these deals because these are people who probably aren’t going to answer the phone on your first, second, third, fourth, fifth time calling after you got them as lead. You know, we’re talking after they already talked to somebody from your team. Um, so it takes a lot of followup and I’m sure you’ve probably heard that or maybe you do some cold calling and it’s crazy.
00:14:51 It’s a different beast. So finding good acquisitions, who fit my model because I’m not out here claiming to be the biggest dog that I’m not trying to do. 30 deals a month, I’m not even trying to do 15 deals a month. We do a four to eight deals a month, consistently put money in my bank account and I live a very stress free life. You know, you hear, you hear the laptop lifestyle. That’s how I wanted to build my business. What’s the laptop lifestyle? Cool. Um, that’s how I wanted to build my business. And so I don’t want to have an office to show up to every day, you know, and even I was, I paid 35 grand a year to be a part of this mastermind with Mark Evans and that was talking, you know, guys, I’m thinking about, you know, maybe I should open an office or something they’re like, but why, you know, mark does a lot of deals.
00:15:33 I don’t know if you’ve heard of him. I know of them. Alex talked about the deal maker. I love the guy, he’s awesome. But he was like, a lot of people just think going big, but ask yourself why? And I’m like, I can’t figure out why. You know, I don’t, I don’t want to do 20, 30 deals a month within office and 10 employees. I want this business to fund other dreams that we’re doing. Yeah, she’s got a big youtube channel. We want to have a beauty line that she can grow to a billion dollar business, you know, we want to do. I like that. I don’t really consider myself a coach. I have a course and a youtube channel, but I like doing the personal brand inspiring people and I like traveling, you know, and just spending quality time with my wife. That’s important to me.
00:16:14 So you know, some people play a different game but again for me, even with this model, it’s people or any people who can work consistently from home. Uh, so you know what you’re right. Yeah. Yeah. So he wants to know how he managed to kill real estate and your hair at the same time. Dude, the only reason I kill my Harris [inaudible] this forehead. I mean come on dude, you had a forehead like that. You’d have hair coming down your face as well. So I would love to have one of those slick. I love to have here like that jelled up, you know, but I just got a big forehead and big white forehead so I’m kind of in a trap. Alright. So Jordan Mccoy wants to know. So are you cold callers inhouse US virtual assistance? Well we actually have been testing a different thing. So mainly we’ve done all Filipino, which they’re good.
00:16:58 You know, you follow a simple script. I always tell people it’s not rocket science to ask a seller if they want to sell their home, you know, um, it’s really not, it’s easy. Um, but we have been testing a, so my acquisition and my deal coordinator, which I’m sure we’ll talk about their, they both reside in El Salvador, but they’re both us born and my acquisitions actually grew up in the bronx, graduated high school there, but they moved away to be closer to family and so they told me, Jay, we got so many people here, but they don’t have consistent people that work for you treat us so well. You pay us on time. You were doing deals together all the time. We know that it’s consistent. We’ve been, they’ve been with me for almost a year now. So why don’t we start trying to bring on some collars, you know, because they see that they see the leads that the Filipinos are putting in.
00:17:43 They’re good at getting leads but they’re not good at like making sure that leads are quality. You know what I mean? So we’ve been testing those and those actually been doing really well. We have for El Salvador callers and they’ve been doing really well for us. So I’m excited to kind of scale that out. Maybe take out Filipinos. I’m again, not that they’re bad. It’s a great place to start, especially when you’re on a budget. Um, you know, and if you’ve got 10, 15 callers, you got acquisitions, you can kill it with Filipinos, no doubt about it. Right? And doing well with them for the past year. Well almost year and a half now. Um, but these guys are on another level. So, so when we were talking about, you know in the Philippines it’s like four or five, $6 an hour, 5:50 an hour for 30 hours a week. Typically expect at least 10 leads a week from them.
00:18:30 Twenty leads a week for Filipinos because we delete half of them because arv is $200. They’re asking to 50, you know, it’s not a lead. And so that’s one of the things with the new callers is we’re deleting maybe 10 percent of the leads. Even I do a daily huddle with my team and the other day we did it. First day we had these new leads coming through. They’re like, Hey, we noticed you’re not deleting as many leads. I’m like, yeah man. It’s like, you know, the leads are more quality or paying a little more attention. So. So in El Salvador, how much you’re paying those guys? Eight bucks an hour. Eight bucks an hour? Yeah, same 30 hours a week. Time limit reason I put a time limit is because if you don’t. Some people are like, why don’t I get 40 hours? You know, Max amount.
00:19:07 I’m like, dude, have you talked on the phone and cold calling? Forty hours or 40 hours. Yeah. It’s like you’re going to end up paying for their lunch break. You’re going to have, it’s going to bring your cost per lead down and they’re not going to have a job where you’re not just paying for their lunch breaks, but those additional 10 hours is cry work. Right. It’s terrible. It diminishes greatly. I mean, I, I’d almost rather have them working 20 hours, but that’s kind of not a full time job, you know, so 30 hours is just enough to be a full time job. And also I, the way I structure it is when I say 50 slash 50 to the Philippines, that’s my cost. I pay a manager who then hires a Filipino, so maybe he’s paying them $4. He’s making a difference. I don’t ask him and same, same model to El Salvador.
00:19:48 A Model I told George, look, I’m one of the Tali is mainly the one managing it because she’s very detail oriented, but I told them, look, you guys manage them. You can make a spread, you know, I know they’re going raised probably six, seven bucks there. You guys can make a dollar or two per hour on these guys. Just make sure they’re delivering, make sure they’re getting new leads. And me and George, if you slack on calls, it’s, you know, we’re done. You know, I’m a hire another manager, you know what I mean? Because we have our Kpis, you know, we know what to stick to. So awesome. Uh, and then, uh, Brian Salman wants to know how many cold calls did you have? So right now we have seven. Um, I, like I said, we actually, I was at like 12 at one point and the lead flow got way too crazy.
00:20:29 Like if anybody were on my instagram too, if anybody follows my instagram, some days we’re getting like 70 leads, which is crazy for one acquisition. So like I said, people, um, so I haven’t actively started hiring and acquisitions because I’m trying to decide if I want to use more El Salvador people, like maybe someone who want to, George’s neighbors or friends or who he believes is a good salesperson or find someone more local because I’ve have had local many local people who even when I had an office I had people who weren’t performing but not having an office to it. It’s like one minute they’re up next week they’re like, you know, they’ll only do 100 calls and they’re supposed to do 300. So I’m kinda trying to juggle that. It’s a tough balance. I know that’s something that’s, that’s been pretty consistent amongst a lot of the wholesalers and our market.
00:21:17 Right? They’re like, well, how are you doing? How you doing it? Exactly. Once it got different theories. Exactly. Everybody runs their business different. I think that’s the beauty of it because everybody’s got different purposes. So yeah, that’s, that’s cool. Uh, so brian silence wants to know also how many numbers are you loading into the dollar at a time per color. So each color gets typically 5,000 numbers a month and they call it through that two, maybe three times next month we give a new list. We arrest that previous $5,000 for 30 days. So also you want to keep in mind you’re supposed to scrub mobile numbers and DNC numbers when you’re calling it an autodialer. So just keep that in mind for anybody watching. Supposed to scrub mobile mobile numbers. Yeah. You are a. So sourcing deals. So I heard you say cold calling. So, uh, are you still doing bandit signs are prevalent?
00:22:03 We actually, uh, we have a ship. I just texted my bandit sign guy. We have a shipment of 2000 going back, which I didn’t do about 2000 a month. I’m in Memphis, so I’m, I’m excited about that. We haven’t gotten up to $2,000 a month yet because I had to find somebody who can put them out consistently because obviously, you know, I’m not in Memphis, so you know, if we can systemize that, I’ve always noticed I got one, two, three deals from 500 signs no matter what. And 500 signs cost me about two, $2 a sign for the sign cost and to put them out. So hopefully, you know, that’s pretty good. I can hit it. Um, yeah, I’m excited. I haven’t done bandit signs consistently for like a year and a half and I’m realizing all my students with not a lot of money. I’m recommending bandit signs because I know the power of them and you know, in the right city in San Francisco, maybe they don’t work but, but one of my, one of my students actually got like 100 k deal from bandit signs in a very.
00:22:56 I’m not gonna mention it for his privacy. He asked me not to, he had a very big month. He asked me not to talk about it. He made like 350 grand in one month. Um, any, it’s his first six months in or seven or eight months in. And he told me not to share it, but yes, in a high end area he made a lot of money from bandit signs and so yeah, I’m just, I’m trying to scale that now because that could add another five deals a month without much headache, you know, another systemizable, you know, marketing stream. So those are the two. It’s cold calling and bandit signs. Yeah. Okay. And then the cold calling, everyone calls different lives. I know for us we call a lot of pre foreclosures. What are you sure. So I’m not into this small niche lists, especially in markets like, you know, a smaller markets, Wisconsin, Tennessee, stuff like that.
00:23:38 I like absentee high equity. I like no data list. I don’t know if you’ve heard of that now than I have no data. No data list is like unknown sales, price and unknown equity. So basically you get a lot of people who just signed it over in their family or stuff like that. It’s just messier deals. So some title issues come up, but yeah, it’s just, you know, great profit deals and not a lot of people. So more opportunity or as interesting. Exactly. And then tax delinquent from Rebo Gateway, they actually have a tool called titled Toolbox that I’ve spent not too much money in per se because it’s an investment, but I’ve spent a lot of money on title toolbox and then obviously, you know, we do our absentee and we will do blanket in the zip codes that we love to do. So. Okay.
00:24:19 Um, and then, so you mentioned you got your cold callers and you’ve got your acquisition managers. I’m one acquisition, one acquisition and what’s he responsible for? Just managing the leads? Yeah. So he’s got to make 300 calls a week and typically I like to see at least a contract sent out, um, that will end up being like three to four contracts back and after you would get about 25 percent that go dead because you know, they’re crap, you know, it’s not the same. We do all of our contracts before we spend the money to send somebody out to the property. So if it’s a crap property, and obviously we have to cancel a contract and slash or get up reduction, um, a lot of time we just have to cancel it because in that situation a better price wouldn’t help, you know, it’s like in an area where new build doesn’t work, you know, air viz under 100.
00:25:06 Um, so yeah, uh, he’s making 300 calls, send out eight contracts and that we’ll see at least three to four back some weeks sees, only sends out five, you know, it’s not all roses, you know, our worst month, you know, we were doing like three deals and we’ve had, you know, eight, nine months, nine months too. So. Okay. And then, uh, I heard you say deal coordinator. Yeah. Dl Coordinator. So she transaction coordinator. Um, what do other people like Simon says hi, what’s up Alex? How you doing bro? I’m so deal coordinator. Basically her job is to deal with the title company. She takes incoming calls from our email blast. Um, she does a lot, like all the organizational stuff, like we have a closing on Monday. She organizes everything. She makes sure that the inspections are done. So she schedules the inspections, gets the pictures back, make sure our inspector gets paid.
00:25:56 He’s not a licensed inspector. He just goes to take pictures and salted. Yeah, exactly. Um, so make sure he gets paid. She lined up the guy to do bandit signs for us, which is amazing by the way. Find great people who you can trust and pay him. Well, I mean we’ll pay them bonuses when he’s, it’s the same guy. Does our inspections, we’ll pay them bonuses. We make sure he’s happy because if you short change people, people are going to shortchange you on the effort or they’ll leave. So there’s never any fun. Uh, Eric Martinez wants to know what filters you’re using in your title toolbox. Um, so title toolbox, obviously we use tax delinquent a lot in there. Um, otherwise we pull our apps and see now since you buy it in 60,000 or 30,000 chunks. So most tax delinquent lists don’t get that big in any market.
00:26:40 Um, I think the biggest we pull is like la where it’s like 20,000 people. I can’t remember the exact numbers but it’s what we use now instead of list source at thirty cents a pop since we already paid for it. So just, you know, I’ve, is that Eric Martinez that asset? Yeah, Eric watched the course. He’s in my course watch the course. I mean people are like, you know, they’re asking do you have any like, no, I show what I do in the course can just plug, you know, um, my buddy wants through that. Of course it’s like, well, you know, he could have charged a lot more for this course. It was one of the best values I got. I appreciate that. Appreciate it. Yeah, it’s kind of crazy. I’m like, because I don’t know if you know, but I was around like Tai Lopez and all these kind of guys and Shawn Terry and I was like super excited to be like this mini celebrity underneath their coaching and now I started a coaching program.
00:27:24 I got these mini celebrities coming up, you know, everyone’s hitting them up like, hey, let’s partner up on deals and stuff. Know I have like a handful of students who are doing all these deals. I’m like, impact. Like it’s crazy, you know, that’s the best part. It’s amazing man. Like people under 25 making six figures. Like you don’t really see you see that in the ecommerce niche because there’s a lot of people who share their gold but not in the real estate space, you know. So that was pretty cool. What you and I and Alex are both doing. Yeah. Uh, so disposition do you have, that’s the deal coordinator. She handles all the incoming calls from buyers. She deals with the buyers who are pissed off because they didn’t get the deal because they like didn’t put the right thing in the contractor. They try to lie, we have, you know how it goes.
00:28:06 Sometimes the buyer will agree to your terms, then they’ll send you a different contract trying to get away with something. It’s like, no sorry man. Nonrefundable earnest money. Seven Day close. She puts them in place. You know, I’m also property management because we close on, on actually a, a good number of our deals now, like instead of just straight assigning them, not that that’s bad, but you can maximize it if you have a longer timeline, stuff like that. So you are taking the down now we are. So um, she’ll deal with property management company if we’ve got a tenant in there who we need to get a lease signed, stuff like that. So she handles all the intricate details of disposition. So. Awesome. Uh, and then, uh, Derek wants to know, are you still using podio? Absolutely. Um, there’s a lot of other like investor fuse is in Podio I guess.
00:28:56 Um, what’s the other one? Freedom. Soft. But, you know, to be honest, I’ve got a simple setup on podio. I went, you know, I always recommend if you’re getting less than like 100 leads a week, use something like investor po or investor for you so you have that auto follow up, especially if you’re a one man show because followups, king, you know, in the business. So, um, I wish I’d used a program like that when I was doing my own follow up. We all think we’re the best at like talking to sellers that do and are, and then you realize, man, like you’re at 50 percent capacity because you’re running every other part of your business, you know, you need some sort of auto, auto follow up tool in there to make the calls when you frankly didn’t make the goals when you were supposed to.
00:29:34 So someone, it’s like a safety net behind. Exactly. Yeah. Yep. Uh, what are the major kpis that you’re tracking? So we have quite a few, but when you break it down, I don’t know how many you guys, I got this from Shawn Terry, you know, I use his layout of scorecards. Shout out to him. I’m sure he has plenty of youtube videos on that. Um, but when you break it down, it really comes down to cost per lead, leads per contract and profit per deal. So we want to know, you know, how much does it cost to get a lead that, you know, how many leads to get a contract, how much does it cost to get us a deal and how, how much do we make? So, and who’s tracking the KPIS and your organization. So Natalia typically fills out a bulk of them. I fill out my field, like the marketing spent because she doesn’t obviously look at my amx and stuff like that.
00:30:16 I have a bookkeeper but they don’t do month to month. I literally hand them the statements at the end of the year and they’re like, you know, getting work done, but I need to start having a bookkeeper month to month. Um, that’s probably my next hire I need to make because at the end of the year it’s just, she worked probably 12 hours a day getting that done, you know. But she knows it’s a good payday for her, you know. Um, so yeah, that’s a, she fills in all the stuff. And then I fill in the format, or I guess three majors. There’s one major I’m forgetting about. Oh, it’s average contract to close. So how long does it take to close, you know, when we first get the deal under contract to closing with the buyer. So how long did it actually take that deal cycle? That way, you know, kind of average deal cycle, say 21 days.
00:31:00 Ours is typically around 14 days from we get the contract and when we closed the deal, I don’t remember our exact numbers. I know the other three. I can talk about those if you want. But that way you know you can allocate your marketing budget per se if you know it takes you 21 days to get a deal and you have 10 grand in the bank but you want to go big, you dropped say five or six grand on marketing and you Kinda know and you know, if you do direct mail, seven days it’ll hit, you’ll get leads and 21 days from that you will get essentially a check if your past record predicts the future, which often it does. So, well that’s the, that’s the power of knowing your kpis and we don’t, to be honest, that’s that fourth one. We don’t really track that one too well, but we do try to because I don’t have like a, I had to develop or work in there, but it didn’t really work out that well.
00:31:47 So there’s a lot of things I can still improve in my business, you know, so we don’t track that KPI as well as we should because it’s a little harder to. Oh yeah. Um, so one of the things we’ve talked about was you guys do a. When you have your course, are there any other services that you guys offer? I know like there’s different wholesalers have different things that they know. I mean, you know, everybody hates on the course, but everybody’s selling something. Everyone’s got a software on the course really. Well, I mean, you, you know, people. That’s one of the reasons I was afraid to make a course because people are hating on people who have a course. You’re a coach here, blah, blah, blah. If you’re still doing deals, it’s not like I’m spending 40 hours a week on the phone with people.
00:32:24 I’m changing people’s lives through videos that are recorded, so that’s. That was the best way to do it for me. But people take pride in not making a course. Everyone’s got an ego, you know, so that’s weird. It is weird, but that’s one of the things that I was very afraid to come out and make a course everyone’s hitting me up for because they see your youtube videos are wondering what does this guy do? And you know, I’ve, I’ve done podcasts and stuff and everybody’s like, man, what did he do? So that’s what it took me. Like I probably spent six months considering should I actually make a youtube channel? Should I then make a course? Is Everyone gonna make fun of me? Truth is, I don’t lie about where I’m at in my business. Like, you know, I’m pretty upfront with what’s going on and if you’re deceptive about it then it’s a problem.
00:33:03 If you’re a coach who says you do deals and you don’t, then it’s a problem. But we know there are some of those out there. Uh, so monthly marketing budget. Do you have budget? Yeah. So I just actually looked at our numbers were this month we’re probably gonna spend about 11,000. Give or take a few. I’m always, it always ends up being more than I like. Then I had allocated for December, we’ll spend about 11,000, probably ended up around 13. I know, you know, what typically happens. Um, and that’s between bandit signs, cold calling, our list costs and stuff like that. So, uh, and then a total monthly overhead. Well then we got, um, I pay each of my people $12 an hour, my deal coordinator and acquisitions, $12 an hour plus my deal coordinator gets three percent of the assignment fee. Otherwise if we close on it, she gets 1:50 on the buy side and 1:50 on the sell side.
00:33:56 Acquisitions, if it’s under 20,000 he’s going to get five percent for. No, actually eight percent. Sorry. Um, if it’s above 20,000, gets 10 percent. So cool. And I hope, I hope I’m remembering those numbers right because like I said, I didn’t eat. My mind is like all over the place right now and he’ll probably be hitting me up like Jay, I saw that and I want my 10 percent. We need a raise now. I’m, yeah, I’m pretty sure if it was either five to eight or eight to 10, but typically, you know, our deals are under 20,000 because we’re in Memphis. So typically paying, I think it was eight percent. So. Well actually that’s a, that’s a good point because I think around here, the targets like 10 to 13. Yeah. What’s the target in Memphis? Well our average is about 9,000, but like we’re closing at $22,000 on Monday.
00:34:37 Um, so we, the thing with Memphis is we’re kind of going on dual pronged approach. So like I made 100 grand on the deal in La. I’m like I’m going to keep hitting La, you know? So I was like, well let’s get the Memphis turnkey deals where we make seven to 10 k really easy. You can do for those a month. Pretty simple and these specific zip codes and then hit the big deals in La. Honestly, at some point it just becomes let’s go deep in the market. So we actually are planning on cutting out or la marketing because you know, you never know when you’re going to get a deal. You know? Honestly we get a deal every couple of months in la. It’s not very consistent even though I’m spending good money there and I mostly because our focus is not dedicated to the market. You see if you know you can sell a property in brand or Brentwood or one mount Washington or whatever for a certain price, you offer a little bit more, you get that deal, but we don’t know that per se because La is such a big market.
00:35:29 We haven’t, you know, memphis is smaller so we can narrow down the zip codes. What price do we need to get it at las? A lot crazier size wise and it’s going to be different. A lot more complicated. It’s a lot more complicated. So that’s kind of one of my goals. Again, like I said, my problem is I go to a market knowing I can get a deal there. It’s kind of almost like a curse, you know, knowing I could easily do a deal there in the first 30 days. We did a deal in Seattle, Washington, and I was like, that’s when like, that was earlier in 2018, probably march or something. And I was like, man, it was a good size deal, but it’s time to just focus, you know, I was at a mastermind and I was like, yeah guys, I’m going to focus and we have focused, um, but not as much as we need to. So, uh, Brian Salmon’s wants to know how, who are using the skip trace your data?
00:36:17 Everybody and their mother has a skip tracing company now, but I used to skip it. Skip. Oh yeah. I have nothing to do with the company. I don’t have any affiliation or actually I met an affiliate, but obviously I don’t really care to, you know, put out a code or something like that, but need to skip is great. I use them and I get really great contact rates. If you do cold calling, you want to see at least a 10 percent contact rate. So you call, you know, say your color does $3,000 in the week. You want to see them at least talk to 300. So about 10 percent. You get any below that. Any below five is, you know, you need to switch list out asap anywhere between five and 10. It’s kind of like, well, if you’re still hitting your numbers, it’s okay. Um, anything above 10 means you’re numbers are insane.
00:36:57 They’re really good, you know. So I typically get above ten first time we call on indeed to skip lists, so shout out to them. Uh, so jude wants to know where would you recommend the virtual acquisitions people? So I use outbound [inaudible] dot com. Um, and I forget who I heard that from. I think it was Brent Daniels maybe a year and a half ago or something like threw it out there and I was like, Hey, I’m going to go check it out. And I went through a couple of bad apples. You know, you, I don’t know if you’ve had, how many acquisitions do you have a mean? Right now we just got two colors. Okay, cool. Yeah, so I mean if you have tried hiring acquisitions, they’re like, you will go through a lot, you know what I mean? If I’m pretty good turnover. Yeah. You want to hire at least two to three at a time.
00:37:40 So that’s what I’ve always done and now I have one that I really liked but it didn’t start as one. It started as three and a couple fell off and yeah, I would say our bounders upwork and indeed, indeed, surprisingly you can find a lot of people in the United States who are willing obviously who want to work virtually, you know, and some people like the commission only deal. I kind of don’t run that route just because I already had the way I was paying my guys from the start. So it kind of sucks to go, hey guys, you know, I’m going to take away your 2000 a month, you know, and if we’re not making that money you’re going to be fired anyways. So it’s Kinda like, you know, Kinda like why switch it back, you know, I pay a lower commission percentage. Most people pay 10 to 15 percent, pay a little lower, like I said, eight percent.
00:38:23 Um, and you know, I pay them an hourly fee. So if we’re not making money, like I said, and I’m paying two grand roughly to them on their hourly fee, they should be fired, you know what I mean? So it’s Kinda like I save a little bit money. So right now you know, you’re in multiple markets, uh, and that you don’t have an office. So as everyone that’s dialing in Wisconsin or are they throughout the country? No, I don’t have anybody in the US right now. So like I said, my acquisitions and my deal coordinator or in El Salvador. Okay. The four callers that they helped me bring on who they are now, managing part time, managing. When I say managing, they’re not working 20 hours a week. Managing these people, they’re just, if I tell them achieve change needs to be made, they get on the phone with them and make sure the change is made.
00:39:07 You know what I mean, coordinator, she is the organizational. She’s also an El Salvador, so she helps with, you know, the is in fact more than George, you know, he’s kind of more the sales guy. She’s kind of the one that makes sure they’re making their calls, hitting their numbers and that just takes a quick glance from her, you know, it’s pretty good to have an admin remotely. Dude and Admin is so important and that’s kind of what she became at first. I just wanted a disposition. Somebody sent out deals, filter buyers and deal with that, but she became an admin. Someone who is okay with dealing with lists, setting doctors appointments at points, you know, she doesn’t really do much of that for me. She literally said, Jay, if you need anything from me, you know, uh, I’ll say doctor’s appointments and she is on point.
00:39:51 So she does all the research. For example, we have problems with properties with that were sold at tax sale so we can’t get title insurance. She goes and makes sure they weren’t bought at tax sale. As soon as we get the contract or before we send the contract, a lot of the time. See, it’s funny, I don’t know a lot about my business because I’m so not connected. They’re literally running the show. I mean, it’s pretty amazing. That’s a business though. Exactly. And that’s what I was afraid of honestly. But I got connected with mark and he’s got a legit col and a big team and stuff and he literally knows nothing about like if you talk to them, you might think he does know deals, but then you see as deal board and you see his employees and stuff and you realize he just, he’s his team’s running it as a business owner, you know what I mean?
00:40:33 And so, you know, I need to hire a strategic person. I’ve got a lot going on, you know, at 22 and I need to make a lot of changes in my business to get to the next level. I know that. But, um, like I said, my why was to make a half million a year from real estate with minimal amounts of effort, minimum amounts of stress. And you know, that’s coming to fruition, you know, that’s cool. It sounds Cliche, but you know, uh, so and then I’m a maximalist wants to know how do you initially train your virtual assistance or your, your, your dollars? Yeah. So same way we train the DL coordinator and the acquisitions on dropbox. We’ve got like a anywhere from five to 15 video sequence starting from one to three where they watch all the videos and by the end of it of course they understand.
00:41:17 Well some of the videos are from the course actually, you know, it’s pretty crazy. I literally do use some of the videos from the course, like how to run an arv, stuff like that. Um, so that is in there and like, well she has my phone but I could pull it up right now and maybe show it on, but it’s literally step one through eight. And then the callers had that same sequence is just step one through five. I know that because we just train new people. Um, well I didn’t train him. George sent them the dropbox link. A lot of them had already experienced dialing and we got them started. So awesome. Uh, so one of the things I get from time to time, it was like, there’s no way. So I was willing to sell it to you that cheap. I know, right?
00:41:53 It’s an easy question. What do you have to say about that? Well, first off I’ll say, have some faith. You little one. You know, I say that all the time to myself. Have some faith. When I got that call from the bandit sign from that person asking 25,000, then talked down to 15. Instantly all that disbelief was gone. You know, if you believe that you’re not doing enough marketing because to be honest, a lot of our deals, they’re already asking, excuse me, the price that we need to make it work. My biggest deals, I’ve done 160, 70, those deals are from people who are already asking the price. In fact, a lot of the time we come in the offer a little bit more just to get them to sign, you know, maybe a lot more, you know, sometimes 100 grand more. Um, in the, in the La Market, so you know, what I’ll say is do more marketing, talk to more people and when somebody tells you they’ve got a price that’s below what you would have offered, go make the deal happen.
00:42:49 There’ll be a closer and don’t be a penny pincher if you know you’re going to make $80,000 on the deal, but they don’t quite want to sign with you where you make 80. See if you can get them where you’ll make 75, you know, I mean, be fair. Obviously you don’t want to rip people off. It will come back to you and it’ll be fair with your offers and be courteous and solve problems and people will sign the contract and you will come across those people. And it’s funny, like [inaudible], I’ve asked this question a couple of times, like, no, what’s the trick? What’s the secret is like there’s no secret, like there’s not, they just, this is what they want. And uh, Brent we were talking about earlier, Brendan, he says his biggest deals have been whereas he’ll make an offer to like, no, no, that’s more than I need please.
00:43:27 This is all I need. Exactly. And it’s nuts, right? Yeah. People. And there’s probably some skeptics who are watching this and they’re like, you know, I don’t believe that’s possible, but it is, it’s crazy. Your work enough, you work hard enough. Uh, so we were talking about podio. Are there any other tools or systems you couldn’t live without? Yes. Um, so I use something called cash buyer data feed from real estate wealth network. Uh, we use a system called reverse wholesaling, not like hardcore, but we like to know what our cash buyers actually paying in that zip code. You know what I mean? So cash buyer data feed, I think we pay 49 bucks a month or something cheap and we don’t actually export the list, but when we get a lead coming in, we can instantly go. And like I said, this is how you become an expert in the zip codes.
00:44:10 We can instantly go to the zip code and say, okay, this llc buyer and you’ll see a lot of the bars you see are repeat buyers. Those will eventually be like some of your big powerhouse buyers. You know what I mean? So we use that tool to go in there, look at what price they’re paying and figure out where we can sell a property. That way. It’s not guessing. See, I think a lot of newbies, even people who are experienced been in the game for a year or two years, they still guess a lot. You know as to what they think they can disposition a deal for. If you’re using a tool like that to go and actually see what people are paying, you’re not guessing. And that’s what I realized that I was selling deals in the phoenix market to people like Jamil who know their numbers, they know what buyers are paying in every zip code and I’d sell it to them.
00:44:51 They make 15 grand on top of mine because they knew the numbers. I didn’t know the numbers. I was just guessing and when I got a for sure offer where I know these guys close, even if they don’t reassign the deal or whatever, I always wanted to do business with them. Now it’s about becoming that person who knows the numbers in the zip codes and gradually people will start bringing you deals where before you might say, well, I’m not sure about that and you don’t want to be the person who, you know, do jvs with them because maybe you don’t know. Now you know your numbers and you’re ready to like put yourself on the line and say, I literally sign a purchase agreement with them to get the deal done because worst case scenario, you close with your own cash and you know, sell it, make you know.
00:45:29 Instead of making a 10 percent margin on the property, 100 grand you make 10 might make five. That’s deal flow. You know what I mean? So that’s what I’m trying to move towards is being the expert in each zip code. So people literally bringing me deals and we’re getting deals from our marketing and instead of making nine grand, we’re making 15 grand because we literally know the exact buyer and the exact zip code. So. And that’s something you can’t really implement working in different markets. That’s why we literally have decided like, let’s just batten the hatches, you know, and I keep, I say it like every couple months, let’s batten the hatches, get focused, but I never do it. So I’m literally. Yeah, we all deal with it. We all have shiny object syndrome, right? I mean it’s a problem. Um, so yeah. Okay. Um, and you talked about taking deals down, so then, you know, how are you funding your deals?
00:46:19 Cash, cash, my own cash. You’re okay? Yeah, I mean I have a private lender who he’ll fund typically. It depends on the area, but you see you’re afraid of private lenders a lot of time, not you, but a lot of people, myself included, I was so like, how do I work private lenders, there’s no way they’ll give me a 100 percent of the property values. If you’re out marketing, finding your own deals, a lot of the times you can actually convince them to pay you more than the pro or lend you more than what you’re buying the property for and get the rehab funds as well. So I don’t do any rehabs. When I say take down deals, I literally sell it a couple of weeks after close on it. I’m just trying to get a big open house, create a bidding, you know, not a bidding war but a buyer frenzy.
00:46:59 I’m kind of a bidding war but not really get that going. Like we just did an open house. Do you remember when the open house was? And I was on the literally I was getting people calling my cell phone like we were so inundated with leads or buyer buyer leads calling about this property and it’s crazy. So that’s why I close on him. So I can do that when I’m wholesaling. I don’t typically like to create a frenzy like that. Just maybe it’s just me being paranoid because I have had people when I’ve, you know, my first couple of years in who would go me or try to snake the deals. So that still happens out here. Yeah. Uh, what would you do? The market takes a dip, buy cheaper. Simple. It’s a really simple answer. People complicate it, you know? But uh, so you talked about your why a couple of times.
00:47:44 Yeah. What is your wife? You know, a lot of people bring up family and uh, I definitely one of my wise is helping family, but the truth is helping family is, is your duty. You know what I mean? You were born into your family if you had the gift and entrepreneurship of being somebody who can be relentless. I’m, and this is something I love about Carlos, Sal, Alex, pretty much everybody I know who I’m friends with, but I love the fact that they go out there and help their family, but that’s a duty. I don’t really think I can call that my why. For me, I think my wife has been honestly helping too, and I’m not going to take credit for people creating income in their lives for themselves, but watching somebody, giving them the tools to go out there and actually kill it and become their own boss and see their mindset changed their belief change, watch them start to create consistency and stuff like that.
00:48:39 That’s my why I would say because I feel like you can impact 100 people. Those 100 people can impact a million people, not just by giving money because we give money, we donate toys, we give food, stuff like that. I’m talking empowering people who want to be empowered, you know what I mean? Absolutely. Living somebody that step up and that’s kind of honestly my wife and honestly let’s be honest, our wise change every month, you know what I mean? So, um, but that’s my why at least been my why that I’ve noticed has really juiced me up. Yeah. Well, and I can definitely relate to that because in the brokerage and training the people in our office, but since this has been doing the podcast, I haven’t. People reached out. Dude, you’re killing it. I mean, you’re making a big difference. So thank you. I appreciate that.
00:49:24 I don’t know if you guys know, but he literally has this professional studio, I don’t know if you make any money from the show or not. Probably not. Um, and he spends money on this show to give you guys free content like all I do on my youtube channel, which I don’t even post as much as I should, is holding the camera up or do a Webcam and this guy’s out here being professional, inviting big people dedicated his time as an aunt, as energy. I mean, I’m sure you’ve seen it come back to you in balance and you know, it was coming back and other ways for sure. I, you know, um, so yeah, but thank you for that. So Max also wants to know the cash buyer data feed, is that the one by Cameron Dunlap? Yeah, it is. Okay, cool. So, uh, what is your biggest struggle right now?
00:50:01 That was something that Brian will sandwich was asking about earlier. So my biggest struggle again is, well, let’s be honest, it’s always shiny object syndrome. I mean, like I was telling Brianna other day, I’m like, man, I don’t know if you’re always wondering are you doing the right thing? And I think that question is brought up by seeing other people or other people trying to impose their will upon you, which is okay, everyone needs to give you advice. You need to filter that advice out. I love that. But what I’m saying is if you start to literally take every piece of advice as a, I need to implement this right away, it will create massive confusion. You know what I mean? Yeah. So I think holding onto what you truly want and the vision for what you want. I want to be able at two PM till four or five go out and ride scooters with my wife, the motor shooters, you know, I want to take my dogs for a walk.
00:50:46 I want to be able to play xbox on a Thursday at noon. If I feel like playing xbox, you know what I mean, it’s like I don’t want to be a slave to my business and I knew that from the start and so I know a lot of people around me are building a big business and they’re doing it the way I see a clear path to show up to an office, work 12 hours a day, hire as many good people as I can get, and they maybe gradually moved myself away from that. But I’m 22, man, I just, I don’t want to. Some people say don’t waste your life, your early years resting. I don’t want to waste my early years slaving away and creating stress in my life. You know, let’s be honest, man, a million dollars a year in income, that’s a lot of money. You know, you can buy, we can buy.
00:51:28 Literally was begging my parents to let us buy them a new house. You know? It’s like, like I know where we go from here, but I’m going to build my business in a way that doesn’t require me to basically give my life away. Yeah. There’s so much pride in, you know, sacrificing everything and giving your time and all this and yeah, for the first couple of years. Great. But, well, that’s the difference, right? I think today versus 10, 15, 20 years ago, like Tim ferriss talks, but I mean, you’re at the four hour work week. Yeah. I mean that’s basically it, right? Yeah. I got these people overseas working, creating an income for themselves and their families and I don’t have to work through their life is better because you’re able to do this and they can, they can. They have a steady job. Exactly.
00:52:12 What is your superpower? My superpower I would say is, uh, I would say networking. I mean, I know a lot of people. I have a lot of relationships. Um, sometimes that hurts me because I rely on relationships or you think that relationships are going to bring some crazy new angle to your business or something like that. Truth is you should just all be leveling each other up and continuing to grow together, you know, in your own ways. So yeah, my superpowers is relationships. I’m also, I’d say it’s, it’s, uh, it’s following my direction because even though I am confused a lot on exactly which direction to go, we all are. I do follow what I know to be true and what I need to do for myself and my family, you know, I say my family because I’m married, you know? Yeah. We don’t have a bunch of kids, but it’s my family.
00:53:00 So I’m watching out for my family. Um, and, you know, just trying to follow that direction. So I’d say that’s another one of my superpowers. Otherwise I’ll be slaving away, man. I mean, I’ll be honest like that first couple of years in the business, but I don’t want to go back to that. Yeah, there’s no need to, uh, what’s the greatest lesson you’ve learned? Greatest lesson I’ve learned. Consistency is key. So you know, you will make up so many excuses in your mind on why you can’t make something happen or why you haven’t gotten results from a specific thing. It could be working out in business. Could be, you know, you think of marketing stream’s not working out well. How many, how many times did you follow up with each lead? How many calls are you making each week? It’s like realizing that consistency and following numbers, weekend, week out, we’ll get you results.
00:53:49 That’s what changed my life and one of the lessons I learned and I wish I learned it sooner because I was the guy who would drop 10 grand this month, next month, nothing next month, nothing. Then 15 grand just because I feel like things are getting slow and it’s time to think big, you know, kind of pump the well again. Yeah, exactly. And that’s what I would do for the first couple of years and yeah, I made money, but there just wasn’t that sense of stability and some people might say, I don’t have much stability in my life because we’re always traveling. We’re always doing a bunch of fun stuff. Truth is now I finally have business stability and I appreciate that. Come from building a team, knowing my marketing budget each week, having a plan as to how many leads we should be getting based on last week’s numbers and doing deals.
00:54:29 I mean, where I’m not involved in them. Yeah. Uh, so William Gates wants to know where can I find your course? Well, first of all, I would check out everything Steve’s got going on. I’m not here to plug a course. Could watch my youtube video, see if you, you know, resonate with my message, see if you like some of the stuff I put out, um, and I have a link and all my youtube videos and on my instagram. So follow me on Instagram, go follow my youtube and uh, you know, if you have the money, go do it because obviously there’s time I jam pack as much value as I could in there for anybody who wanted to learn. And there’s a virtual wholesaling section in there. I just spit all over the mic. Jason. There’s a virtual wholesaling section in there too because I’ve, you know, not a unique model.
00:55:13 I kind of learned it from Mark Evans as well, you know, the virtual stuff. Um, but you know, I laid all that out there as well. So I’d say go watch a youtube, watch the instagram, see if you vibe with me. And we’ll go from there. Yeah. What’s your favorite best or most interesting failure? Oh Man. Most interesting. Failure. Well, honestly, obviously we’ve all had those marketing streams that are those marketing campaigns that I’ve totally dumped. Like I remember. So Carlos, I don’t know if you know of him. Yeah. But um, it was like a maybe a year and a quarter after it was in like April of 2016 and I dropped this massive campaign and in Seattle and Portland, Oregon thinking I’m going to do these big deals, right? I’m a JV with my buddy joe and do these big deals and like a weekend, two weeks in, I’ve only got like 10 leads from this.
00:56:06 I think I spent 15 or 20 grand even on that campaign. And I was just laying Carlos. I don’t think he’d quit his job yet. He worked as a, as a title guy or whatever. And he didn’t want to quit his job. And I, I feel like, um, we talked him into it eventually, but he helped massively in moment because I was depressed. Like I was laying on their couch in their little office. I think maybe he quit his job. I don’t know why that matters, but it does because I’m with these guys. We’re all hustling is what I’m trying to get at. We’re all in that hustler mentality. We hadn’t quite made it yet, but we’re doing deals, you know what I mean? And so we’re all in that room together. Just kind of realizing shit where we’re going to hit these days where we just dropped 15, 20 grand and you feel like you’re not making, you’re not gonna make any money like you don’t.
00:56:49 It hurts to lose 20 grand, you know when you have 60 grand in the bank, that’s one third of your, of your network that you think just was torn down the toilet and now you don’t believe in it enough to put another marketing stream out there. So yeah, I would say that was one of my most interesting failures just because I just remember sitting in that room talking it out and kind of just being in that startup phase altogether. All of us, they were starting their real estate business. They’ve been doing pretty well too. Obviously they’ve taken off now, but um, you know, and just, I dunno, those are just the memories you won’t forget because it’s just different than today, you know, where you’re at kind of a different level or you just remember what it used to be like. Yeah, exactly. Uh, what book have you gifted more than any other thinking?
00:57:32 Grow rich for sure. I mean, to be honest, you know, I, I, my goal was to finish the Bible this year. It’s funny, I read all these money books before I read the Bible and I’m almost done with the new testament. I love it. Um, and I’ll start gifting that because I realize that reading that will make a difference. Whatever you believe because you know, there’s like altruistic principles in there no matter what. Great wisdom and they’re great with great wisdom. Exactly. So, but thinking, grow rich is something that I think if you read it and you come into it with broke mentality, you actually read the book with attention and it will absolutely change your life. So that’s what made me at 16 start becoming wealth conscious. You know, you hear it in the book becoming real consciousness 16. Yeah. I was very lucky man.
00:58:15 That’s, that’s the one thing like I got into network marketing and I heard of thinking real rich and then once I read that, I don’t know, it’s just like they talk about the pattern that you won’t really realize until you realize that, you know what I mean? The pattern is you pick a goal, you follow it with relentless pursue, use autosuggestion to keep your faith, you know, use God. Whatever your means are to find faith in your life and just follow through with the strategic plan. That is the formula in think and grow rich and it works so awesome. Oh, hurlin wants to know, have you tried ringless voicemail? I have. Um, I don’t like it as much just because you don’t get, if anybody who’s done it, you don’t get a, like a big portion of leads comparable to the amount that you dropped.
00:58:59 So number one and your list, half of them might be mobile numbers and those are the ones you can drop to rbm too. Right? So of the of the half, you might only get like five, 10 leads out of 10,000 rpm drops and some people are cool dropping $10,000 a day to the same list. I’m like, you know, there’s legal ramifications and stuff. I’m just not the person who likes taking risks. Some people like to call tech sellers. I don’t do it. I don’t really like rbm. I’ve tried it. I didn’t get as much lead volume as I do cold calling and you know, it’s not that the cost, the cost per lead on rbm, our costs really cold calling is typically around 25 bucks for a decently, sometimes weeks. It’s as low as 15 some weeks is as high as 35, but it’s, it ends up being around 20 to 25 bucks. Rvm It’s around 40 to 50 bucks, but it’s a higher quality lead. Um, so we have done deals from it, but I don’t do it consistently just because of the legal legal ramifications. And some people consider me to be a wimp. It’s a cost of doing business, but you know, I don’t know, I just haven’t played around with it much. I don’t know. I don’t feel confident enough about it.
01:00:04 Well, there’s gonna be some changes by the, by the, uh, FCC at some point about that. If there’s, is there any one thing you want to leave the listeners with?
01:00:14 You know, um, I would say don’t change life based on maybe what you heard in today’s talk or based on what you heard another talk realize that real estate, specifically wholesaling, whatever you want to do in real estate is a path to wealth. But you got to figure out what do you want your business to do for you, not what should you do for your business. You know what I mean? So like me, I decided I, I want a business where I can make a really significant amount of money without working much. I created that, took a lot of hard work, took a lot of grunt work, but it’s here now. You know, I got a good team. You got to decide, do you want to be the biggest dog in the pond? Good, go play big, go open up an office, go, go, go, go, go, don’t stop you gotta, decide what you want and you just want 100 k a year, 50 k a year even, and you’re working. Once you know you’re doing one deal every month or two, you make 50 k a year. That’s average salary in America, right? Right. And you, you can work an hour a week doing that. No, Joe, you just take a bandit sign call every week. You do one deal a month, you know what I mean? It’s crazy. So figure out what you want from your business relies. Wholesaling is a real thing. It does work. And take action. That’s what I’d say.
01:01:25 That’s awesome. That’s an incredible message and I think really relevant because you know sometimes egos and pissing contests get in the way of things.
01:01:31 Yeah, don’t get me wrong, I have a big ego. Trust me, I have a really big ego and that’s why I’m always having shiny object syndrome. Trying to think, oh, should I do this to do this and that and not get my name out there in this? You know, I have a huge ego, I think we all have a little bit of ego in us, but you have to, you don’t. You’re a very humble guy. Where sheet that we don’t know each other really well. I’m just brown noser right now. Yes, right now. Um, no, but yeah, we all have ego, but you got to follow what you truly want.
01:01:59 Yeah. So I think, I think that’s really, really important to, to know. And then, you know, don’t let Jaelin full year the course is good. I mean I’ve heard from multiple people how great it is. So it’s an incredible value. So definitely check that out. If someone wants to get ahold of you, what’s the best way?
01:02:13 So number one, youtube. A lot of people ask the same questions. That’s why I ended up creating a course in the first. So you’re talking, what lists are you going to hit? What, how many times should I follow up? Blah, blah, blah, blah, blah. If it’s a personal thing, hit me up on Instagram, shoot me a message. If you’ve got some personal issue, maybe I can help in some way. Shoot me a message, but if it has to do with real estate, watch all my videos, all 50 videos, watch all of his real estate disruptor podcast and then listened to a ton of podcasts after that and then maybe ask a real estate question. Yeah. Or by the course. That’s why the course, you know, if you’re broke, I understand, but that’s why I have a free youtube channel for the people who want a piece. Everything together.
01:02:53 Awesome. And then guys, don’t forget, next Thursday is our monthly meetup. So Jamil Damji is gonna be talking about. He’s actually going to be opening the curtains on how Keyglee works, how they’re wholesaling 70 properties a month. That’s nuts. And he crazy. I got a sneak preview yesterday. Big Dogs, right? They’re big dogs. I got a sneak preview yesterday and I was like, man, how can anybody to compare like with what they’ve got going on and stuff they’re tracking is just freaking, dude,
01:03:20 that’s what I’m talking next level. Next level. It’s not want to be that guy. You can be that guy. You know what I mean? So they kill it.
01:03:27 Yeah. So I’m excited it’s next Thursday, mcfate brewing Scottsdale. Uh, and Mcdowell, thank you guys for tuning in and thank you. This was very much my friend. Sorry. If I was like
01:03:37 branching, I haven’t eaten and you know how it goes when you haven’t eaten, you know, and you woke up pretty early. So. Cool. Thank you very much. Appreciate it. Thanks guys.