Episode Transcript
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SPEAKER_00 (00:07):
Today we're gonna be
talking about how here at
Titanium Investments we now havea 100% success ratio with paper
leads.
Now you probably clicked on thisvideo because you're like, what?
What a clickbaity title.
There's no way in the world thatRJ's team is now closing 100% of
(00:35):
their leads.
So, what I want to talk about isreframing our mindset on what is
success when we're calling aseller as a wholesaler.
This came about today when wewere on our Titanium University
implementation call.
And a gentleman by the name ofBobby Frost Jr., better known by
(00:59):
his legal name, JasonStrickland, he always says, Hey,
RJ, let's talk about what yousay, let's talk about what you
just said there.
Let's dive deeper into it.
So this morning he said, RJ,you're always talking about how
when we get exclusive PPL leads,that we should close one out of
(01:25):
every 10.
And then you talk about how 90%of the time we should expect to
fail.
But ideally, what are we doingwhen we're on the phone with a
seller?
We're helping solve theirproblem.
What if as an industry westarted looking at success a
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little bit differently and said,if I were to receive 10 leads
and I could get on the phonewith 10 sellers, if I solve
their problem, isn't thatsuccess?
He's right.
That is success.
However, are we always as awholesaler going to be the
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solution?
Absolutely not.
We should not be.
We should expect to only be thesolution 10% of the time.
Sometimes it's even less.
Say if we're buying coupon clubleads or non-exclusive leads,
maybe it's only four percent ofthe time that we're the
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solution.
And that happens.
But when we call these sellersand we find out their
motivation, we find out how muchmoney that they actually need,
it's our obligation as the realestate professional on that
conversation, on that phonecall, or in that belly-to-belly
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appointment to point them in theright direction and say, this is
the correct solution for you.
For example, and I use thisduring the implementation call
today.
The greatest praise that I haveever received from anything that
I've ever done in my threeclosures Olympics competitions.
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It wasn't winning back to back,it wasn't the close and funded,
it was actually me doing theright thing by a seller where I
could not be their solution.
See, during the 2023 ClosuresOlympics, I talked to a seller
who had a property in St.
Louis, Missouri, but it was aheavily physically distressed
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property.
He was so financially motivatedand upside down on this property
that he even pitched to meselling the property subject to
the existing mortgage.
Now, most people looked at thatand said, RJ, you should you
should do this deal, you shouldclose it.
But he was upside down.
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See, the property was sophysically distressed that even
though I could walk into thatproperty with zero dollars, it
didn't make sense.
Why would I walk into anexisting mortgage, now have to
start paying principal interesttaxes and insurance, and then
have to bring an additional$40,000 to$50,000 to the table
(04:25):
to rehab the property, and thenI would be negative equity on
the property, it wouldn't havemade sense.
See, he had a financialhardship, he had negative
equity.
There is a solution for thisman, it's called a short sell.
And so I pointed him in theright direction into Matthew
Potter.
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Now from there, it was up toMatthew Potter and the seller to
work together and solve hisproblem.
And I don't know if thathappened or not, but I pointed
him the right direction.
I solved that problem on thatphone call and I said, This is
what you need to do, Mr.
Seller.
To me, I viewed that as success.
Now, if you're only viewingsuccesses, sign contracts and
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close and funded deals, theissue that you're going to run
into is that the majority of thetime you are going to fail.
And we have to fall in love withthe process and looking at it
and saying, if I can alwaysidentify what the seller's true
motivation is and the seller'strue needs, and I point them in
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the right direction, what youwill see is more deals will get
closed and funded for you thanif you're always just chasing
the next signed contract.
Because you're going to try tomanipulate and manufacture
deals.
You're going to try to pitchyourself and come across
disingenuous about what yourtrue intentions are with
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sellers.
Because you're going to look ata seller point blank and say
that they should sell theirhouse for a massive discount.
Well, maybe they shouldn't.
See, transparency and coming inas a true real estate
professional will differentiateyourself from the competition
that does not do this.
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So for those of you that arecurrently subscribed to my
channel, or maybe you're new, Ihope that this video pops off
because it's clickbaity enough,that you actually reanalyze how
you are navigating theseconversations and what you
consider success and not successat the end of these
conversations.
I think if as an industry wewere to go into it and say there
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is a place for licensed realestate agents, realtors could
serve sellers better than awholesaler at times.
Should I always pitchinnovation?
No.
It should be that the seller'smotivation, the seller's needs
and desires are where innovationcould solve that problem for
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them.
Should I always offer sellerfinance or try to buy the
property subject to the existingmortgage?
No.
Cash offers, low discounted,they're not always the right
solution.
The seller's needs have to comefirst.
And when you do that, that iswhere you will be able to close
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more deals.
Because you are appropriatelyanalyzing these, underwriting
it, and then determining thiscan serve my end buyers, this
helps solve the seller'sproblem.
And in between, I get paid forthis.
That is how we now have ahundred percent success ratio
because that's how we look ateach and every one of these
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seller calls.
So, Jason, I appreciate youbringing this to the forefront
and telling me to make thisvideo today, because you're
right.
This is a new way for us to lookat it and say we can be
successful on every single call.
See if you're only falling inlove with the result of a signed
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contract, you're going to missout on opportunities where you
can change people's lives.
And to be honest with you, whatactually happens is you will
become better at seeingmotivation, the questions that
you ask, really understandingwhat a seller needs.
And this is where mostwholesalers get things wrong.
See, the competition believesthat you need to go out and you
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need to understand thecondition, the timeline, the
occupancy, and then maybe get aprice and then lowball that
seller.
I don't believe in that.
I believe that method isoutdated and the industry has
moved past it.
Does the seller need to sell?
How much do you need?
Let me understand yourmotivation.
Yeah, along the way, we need topick up what the condition and
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the timeline is.
But more often than not, that'sprobably a piece of their
motivation.
And when we fully understandtheir situation, we insert the
solution no matter what that is.
And there are people out therethat are better suited to help
that seller than us the majorityof the time.
Today I reacted to a realtor'sexplanation of what wholesaling
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was.
And I went off on my reactionbecause she claims that
wholesalers, all that we'redoing is locking up a property
for$500,000, not doing anythingto the property, and then
selling the property to someoneelse for$550,000.
Whereas the seller should havewalked away with that$550,000.
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And as a licensed real estateagent, she was explaining to her
audience how realtors are betterthan wholesalers.
And I had a very negativereaction to that because as an
industry, I believe we should beworking together instead of
pointing the fingers and saying,this is why you shouldn't work
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with a wholesaler, this is whyyou shouldn't work with a
realtor.
That is toxic to what we aretrying to attempt to do, which
is to serve the masses, thepeople, the homeowners that are
not real estate professionals,that don't really know who and
what is the best solution.
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I believe that realtors shouldwant to work with wholesalers
and they should see the valuethat we bring to the
marketplace.
There's times where speed is ofthe essence for a seller, and
taking the property to themarketplace is not always the
quickest and the fastestsolution for a seller.
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There are times where propertieshave massive title issues,
issues that most people don'tknow how to overcome.
They don't have the buyers linedup.
Whereas a wholesaler could comein and could solve those
problems quickly andefficiently.
If as an industry we are alwayspointing the finger at each
other and saying, I'm betterthan that person, then there
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will be people, homeowners thatdon't know any better that get
left behind.
Collectively, if we decide thatwe can work together and start
solving these problems bysaying, you know what?
There's someone else out therethat can solve your problem
better than I can.
It will serve your businessbetter.
You will end up with betterleads, referrals from the
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competition that you're viewingas competition right now, and
ultimately make your businessmore profitable at the end of
the day.
So 100% success ratio, is thatbecause of closing sign and
funded deals?
No, it's because of the endresult, which is solving the
seller's problem.
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That is how you end up with 100%success ratio.
Now, in the comments, what Iwant you guys to do is let me
know.
RJ, I agree with you, or man,this is some fru fru shit right
here, and I don't believeanything you just said.
Let me know in the comments.
For everyone that's watching, nomatter what, show me some love,
(12:05):
like today's video, and we'llsee you guys tomorrow.