Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:08):
Today we're going to
be breaking down how we made a
$50,000 assignment in less than13 minutes yesterday with zero
lead generation and zero disposoftwares.
Now, this is a unique scenarioand it's not necessarily one
that I'm expecting you guys toreplicate inside of your own
(00:29):
business, but there areprinciples that you can take
from and replicate and also justlearn about how to embrace
moments, moments that are goingto come your way, and how you
can establish a business whereleads and deals start coming
(00:49):
your way, relationships withinbuyers are established and, when
the opportunity comes, you knowexactly how to handle the
situation and where you're goingto go.
So yesterday, garrett Littleton, who's been with me for now
over three and a half years, gota call for a potential Titanium
University member.
(01:10):
Now, this is someone who hadscheduled a call Maybe they saw
one of our ads or something likethat and he had already taken
them through the entire30-minute Zoom presentation,
showed them everything that theyneeded to know about TU, but
they were not in a position tosign up yet.
He had followed up with themand asked them like hey, how are
things going?
Is there anything that I canhelp you with?
(01:31):
And that led to her giving us acall Garrett, and saying I have
a deal in Texas, but I don'tknow that it would make for a
great wholesale deal becausetechnically it's a listing of
mine.
Now see, she's a licensedrealtor and the seller signed a
(01:52):
listing agreement with her.
However, the seller had somequirky like mandates on her as a
listing agent Not somethingthat I've ever really seen
before.
He did not want the property tobe on Zillow, he did not want
it to be on realtorcom, he didnot even want it to be listed on
(02:13):
the MLS.
So it's technically a listingagreement, but he's mandating
that she cannot list theproperty.
He wanted her to go find abuyer for this property without
anyone knowing the property isfor sale.
It's kind of what we do aswholesalers.
Right, it's basically anoff-market transaction, but he's
(02:36):
going to a realtor, he wants tobe represented and he wants all
the normal assurances by usinga licensed realtor.
So she called Garrett andGarrett was having a
conversation and I just happenedto be walking by Garrett's desk
while he was on the phone withher.
I didn't even know thisconversation was taking place
and Garrett stopped me and saidhey, man, will you talk to this
(02:58):
potential TU member and see ifthere's something that we could
do with this deal.
So I sat down and I got thebasic facts right when the
property was located, how muchthat they were going to list the
property for and the conditionthat the property was in.
But what I started seeing wasthis property was discounted
(03:22):
from the current market value,what the property was actually
worth.
Because the seller wanted it tobe a smooth transaction, he was
willing to sell the propertyfor a discount.
So it did kind of fit awholesale box, but it's not that
traditional wholesale deal fromthe standpoint of we think of a
(03:43):
distressed property, we thinkof the amount of rehab that it
needs.
But again, every time I talkabout what are we focused on?
When we're talking to sellers,it's their price and their
motivation.
Condition is irrelevant andwe'll figure that out.
That matters in the end when itcomes to the numbers, but it's
(04:05):
not a criteria that is neededfor a seller to sell a property
for a discount.
That's exactly where thisseller fit in.
He wanted his transaction to godown exactly the way he wanted
it to and he was willing to takea discount for it.
Because of that, it created amassive opportunity for us.
So immediately.
What I did was sit down atGarrett's desk, comp the
(04:28):
property, plug the numbers intoour profit calculator and
realize I knew the buyer forthis deal, that buyer being a
Titanium University member.
He had posted earlier in theday that he was looking to get
nine properties that day.
He then, a couple hours later,posted four of the nine have
(04:52):
already been acquired.
I need five more deals Now.
We assigned him another deal sohe needed four more deals.
But as I'm on the phone withthis listing agent, I'm
realizing this is a massiveopportunity for us to capitalize
right now.
So I'm like the seller wantsthe list for 365.
(05:14):
What is the net number that theseller is okay with?
Seller was okay with walkingaway with $330,000 in their
pocket.
Now I knew our end buyer insideof Titanium University was
willing to purchase thisproperty at $380,000.
Now how do I know that?
(05:35):
Because he's inside of the TUcommunity.
We regularly post about thedeals that we're doing, the
criteria, the buy boxes, and weunderstand what each other are
doing.
This would also be about ourfourth or fifth deal that we've
done this month with this TUmember.
So I knew exactly where thenumbers need to be 380.
So I told her let's see howfast we can get this deal moved.
(06:01):
So at that point in time Ihopped off the phone and I
called Danny and I said hey,danny, I need you to call our TU
member and I need you to tellhim about this property.
This is a lay down deal.
He's going to buy it.
What do you think the numbersshould be?
Danny looked at it, he compedit, ran his own numbers, plugged
it in the profit calculator andhe said hey, he'll buy this at
(06:23):
$380.
Boom, the exact numbers that Iwas thinking.
13 minutes later, danny calls meand says property sold.
We just got to get everythingsquared up with the seller.
Perfect Called a potential TUmember and I said hey, property
sold.
Here's what we're going to do.
Perfect, we buy it from theseller for $330,000.
(06:48):
I have baked in on this deal$15,000 for you, which is more
than she was going to make as alisting agent.
So this makes it beneficial forher.
She makes $15,000.
The TU member who is buying thedeal he gets paid up front and
(07:11):
on the back end because he'sbringing private money lenders
to the table.
So he's essentially acquiringthose deals and he wants a
percentage of the assignment fee.
So we told him $10,000.
So $25,000 of the $50,000 goesto the listing agent and the TU
member who's bringing theprivate money lender to the
table.
That leaves $25,000 for us.
(07:33):
So we split the assignment50-50 between the parties
Listing agent 15, our buyer 10,we make $25,000.
And in 13 minutes we were ableto get this deal moved with a
$50,000 assignment.
Now, mind you, we only walkaway with $25,000.
Now the negotiations getserious because we were just
(07:56):
primarily only talking about theoriginal asking price.
But this is an elderly sellerand remember his motivation is
this deal needs to go downexactly the way he wants it to
go down.
So he's happy with the 330, buthe wants a 45-day lease back.
So now I have to go back to theTU member and say, hey, seller
(08:18):
wants a 45-day lease back.
That doesn't necessarily workfor him because the way that the
private money lenders work isthey want this deal moved as
quickly as possible so they canget the best return.
Understandable.
So we gave a $5,000 discountout of our assignment fee.
So we went down from $25,000 to$20,000.
(08:39):
So, technically speaking, Iguess we didn't get a $50,000
assignment, we only got a$45,000 assignment.
But not bad for 13 minutes ofwork, zero lead generation, zero
dispo softwares.
Now again, the moment hit out ofnowhere.
In fact, I was going to therestroom to pee.
(09:00):
I didn't know that I was aboutto make $45,000, but the
opportunities come.
Why did this opportunity come?
Well, I'm regularly tellingpeople this is how we make our
money, this is what we do.
That's why she picked the phoneup and she called Garrett,
because she wants to joinTitanium University to do deals,
because people know thattitanium does deals.
(09:24):
And the reason why is becausewe're always doing deals with
other people.
See, in this scenario, she nowis going to take part of her
$15,000 and she's going to jointitanium university.
So she's coming in alreadyprofitable by joining TU.
She got this deal done becauseshe knew us here at Titanium.
(09:47):
The other TU member now justmade $10,000 on the purchase and
will make money on the backside.
He also now is profitable bybeing a TU member.
And what happens with thesepeople?
It's not a one-off scenario.
They want to do deal after dealafter deal because of how
smooth this transaction is goingto go down, how it's already
(10:10):
gone down so smoothly.
Now we're at the beginningstages of this.
We still have to have awalkthrough.
We still have to go open titleand make sure all of the
transaction coordination issuesgo through.
But I don't see any issuesbecause not only is this an
off-market deal, but weliterally have the listing agent
on our team.
I foresee this being a verysmooth transaction, but we were
(10:34):
able to connect the parties butalso bend when we needed to bend
.
We weren't a hard ass on our TUmember when he didn't want to
give the 45-day lease back.
I looked at this deal and I saidthis is literally a gift.
It came from nowhere and westand to make $20,000 just like
(10:54):
that Embrace.
That moment.
I don't look at it and say wow,we're making $20,000.
I look at it and I say this isamazing for the potential TU
member.
She was blown away and she saidI cannot wait to get into TU
because it's going to change mylife.
This deal alone is alreadychanging the trajectory of where
(11:16):
my business is headed.
I look at the end buyer and Isee the opportunity that was
given to him for his privatemoney investors to invest
$375,000 into a deal and they'regoing to make a higher percent
return than they actuallymandate on their deals.
(11:37):
This is a massive opportunityfor them.
And what ends up happening is,not only did we do the first
deal with that buyer but thenthe second deal, but after that
call I called Danny and I saidwith that buyer, but then the
second deal.
But after that call I calledDanny and I said hey, what about
that deal with Teresa inMissouri?
You think he would beinterested in that.
I foresee that deal being soldtoday to him as well.
Embrace the moments.
Put the people together.
(11:58):
Don't stare at the bank accountand the big shiny numbers, but
just look at how you're helpingpeople.
The big shiny numbers willfollow you.
Let me know what you guys thinkin the comments.
Make sure you show me some love, like today's video.
We'll see you guys tomorrow.