August 4, 2026 • 26 mins
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
SPEAKER_00 (00:03):
Welcome back to seller call films a series where
I'm going to show you guys alive seller call, but give you
one specific thing to take away.
And this is a live seller callfrom a couple of years ago,
where for the first half of theseller call almost everything
goes perfect.
And it appears, hey, this isgoing to be a signed contract,
(00:25):
everything's great.
And then when I'm preparing forthe close and to send the
seller, the contract assigned,oh, the objection shows up.
The objection that could end upcosting me the deal.
And so I want you guys to reallykind of pay attention to how I
kind of have to recenter myselfand kind of get back into the
(00:50):
pocket of not being emotional,not being mentally done with the
goal where it's like, oh, she'sso ready to sign the contract.
We're good.
And then all of a sudden, no, Istill have to be prepared
because this was an objectionthat she had based on a prior
experience with anotherwholesaler.
(01:11):
And you guys know for a fact, ifyou've been doing this long
enough, that hey, a badexperience with another
wholesaler can be enough to killa deal.
And so this isn't an objectionthat we can kind of just flop
off and just be like, don'tworry about it.
I'm different.
And so it takes me essentiallytwice as long as I was
(01:33):
anticipating to end up closingthis deal than what originally I
thought, because hey, we're agood fit, it's a good fit.
This is a win-win-win situation.
We're going to get the sidecontract.
Boom, the objection shows up.
So that's what I want you guyspaying attention to.
Obviously, you're going to seethe closer formula and
everything come out, but justpay attention about the
(01:54):
15-minute mark of the sellercall is when that objection
comes up, and kind of how I haveto reset her, refocus, and make
sure I get her to a point towhere she's ready to proceed.
So enjoy this episode of LiveSeller Call Film Room.
Make sure you like the video,and we'll see you guys tomorrow.
(02:16):
That lead was$60.
unknown (02:19):
Come on.
SPEAKER_00 (02:20):
Hi, is Teresa there?
SPEAKER_02 (02:22):
This is her.
SPEAKER_00 (02:23):
Hey Teresa, this is RJ Bates calling about your
property there on Oak Street.
You had uh entered this on mywebsite saying that you're
looking to sell.
Is that correct?
SPEAKER_02 (02:32):
Yep.
SPEAKER_00 (02:33):
Awesome.
How much are you looking to getfor it?
SPEAKER_02 (02:36):
55.
SPEAKER_00 (02:38):
55.
All right.
Tell me a little bit about whatyou got going on.
SPEAKER_02 (02:43):
Um, it's a big garage.
I would say what at least threecars, if not one.
It's a big garage.
Um I've got three-bedroom house.
It needs a lot of love.
Um it's I don't remember squarefreeze right there, second.
(03:03):
1100.
It's got a shed out back, it'sgot a um carport on the other
side of the house.
It's got three-quarters wraparound the ground um porch, step
around porch, three-quarters ofthe way, you know, from one end
to the other.
But um, we had runners in here,they just scored a lot.
(03:26):
I take care of a lot.
Just I'm done taking care of it.
unknown (03:31):
Okay.
SPEAKER_02 (03:32):
We live in Texas, so we're wanting to sell it.
SPEAKER_00 (03:34):
No kidding.
What part of Texas?
I'm in Fort Worth.
Yeah.
SPEAKER_02 (03:44):
Disney book.
SPEAKER_00 (03:45):
Yeah.
All right.
So you said 50.
How much were those tenantspaying?
SPEAKER_02 (03:52):
Uh he owes I think he owes forty, forty-five, I
think.
He still owes on it.
SPEAKER_00 (03:58):
Oh no, no, no.
I'm saying the the tenants, howmuch were the the tenants paying
a month?
SPEAKER_02 (04:03):
Well, we we only made a pay seven.
SPEAKER_00 (04:05):
Gotcha.
SPEAKER_02 (04:06):
We could have got more because the um people that
um rent apartments around herejust like you know, like a major
ton of them in one apartmentbuilding.
And that's just for anapartment.
SPEAKER_03 (04:24):
Um, you said it needs uh a lot of love.
SPEAKER_02 (04:28):
Is is it the roof twenty is old.
So you can let a slap one on topof it or cure.
I mean, I haven't found anyleaky I could do it.
I could make some on and off thetable.
Do some of the storms and allthat.
But that doesn't mean it'sanything.
(04:48):
I just haven't found any.
I mean, I haven't nothing's lateto have that that I saw.
But I think that got fixed.
SPEAKER_00 (04:58):
But like on the inside it needs like cosmetic
updates and stuff like that tomake it, you know, rent ready.
SPEAKER_02 (05:05):
They took the they took the stove and the
refrigerator.
Um yeah, it would need I mean Ialready did the bathroom and
painted the kitchen.
I mean I painted the kitchen thebathroom and put a new flooring
in it in the kitchen.
I painted it and then and umjust try to clean things up and
keep them, you know, up to caras much as I could.
(05:29):
But I know if it was me and Iwas gonna do more to it, I would
just put because I got sidingdownstairs, not siding, I'm
sorry, um, um handling.
And it makes the wall look somuch better, because this is an
old house, you know.
SPEAKER_00 (05:43):
Right.
SPEAKER_02 (05:44):
And it's made like an old house.
So that's what I would.
I mean, it would be so muchcheaper and so much easier to
put enough paint every time orwhatever.
I can't whatever.
And it makes it look like a holein the house.
SPEAKER_03 (06:08):
All right, let's see here.
SPEAKER_00 (06:11):
How'd you come up with 55?
Not that it's a bad number, I'mjust curious.
SPEAKER_02 (06:16):
Because he owed 45, and since I've been putting a
lot of sweat warp in here, Ithink it's worth at least my my
sweat workers worth at least inhell over the last few months.
SPEAKER_00 (06:28):
He said, I want I want to make some money.
SPEAKER_02 (06:32):
Exactly.
Exactly.
And I'm here, I'm not workingfor video.
That's how we came up with it.
SPEAKER_03 (06:41):
All right.
SPEAKER_00 (06:45):
Give me just a second here.
I we're gonna do some mathfigure out what I can do here.
SPEAKER_02 (06:54):
I mean the problem was our runner he just he took
he was an easy pushover.
And you know, they could getbehind and he'd just let 'em,
because of what excuse came upwith.
And then we're we were wrong.
SPEAKER_00 (07:12):
So once I fix it up, what do you think it's gonna be
worth?
SPEAKER_02 (07:18):
I mean, it has to go from anywhere from eighty
thousand to I mean the houseacross across the three for me.
They went in and recutted it anddid it all of it, and old pack
and all, and they got like ahundred and I don't know two
hundred and thirty-five thousanddollars out of it.
SPEAKER_00 (07:35):
They got two thirty-five?
SPEAKER_02 (07:38):
Yeah, yeah, it was like an old corn, really cool
house, but and it was three.
But they put a lot of work intoit.
Like I said, they gutted thewhole thing.
SPEAKER_00 (07:51):
Was it bigger than yours?
SPEAKER_02 (07:54):
Well, yeah.
Yeah.
I thought they should I mean Iwould say a hundred thousand
either.
Because the the lot the landthat it's on is more it's more
than half an acre, and it's it'sjust like a nice area to be.
SPEAKER_00 (08:11):
You do have a a big lot, I will say that.
SPEAKER_02 (08:15):
Yeah.
And everybody loves the uh goingin.
And I've been I went in andcleaned out and got rid of all
the weeds.
My you know, I had help, and wegot rid of real weeds and trees.
Yeah, that's the word weedtrees.
And we just got it the wholething made it look real.
So that's what taken care of.
SPEAKER_00 (08:38):
So that big white garage at the back side, that
that's yours, right?
SPEAKER_02 (08:43):
Yeah.
Yeah, that's one thing.
It's a big garage.
I mean, it used to be, myunderstanding is it would be it
was a gas station at one time,long a long time ago.
SPEAKER_00 (09:01):
And it would make it on the mortgage.
On the mortgage, um, what what'sthe monthly payment on the
mortgage?
SPEAKER_02 (09:14):
Um, I think he he has a high interest rate.
Um, because when he did it thatway back when I think it's I
don't I want to say 7,000 sevenpercent in the interest rate.
SPEAKER_03 (09:24):
Gotcha.
SPEAKER_00 (09:26):
Cause there there is a part of me it's like, well,
what if I just gave you 10K andI took over the mortgage?
Um that could be that could bemore beneficial.
But if it needs a lot ofrepairs, not really, because
it'd almost be better for me toget a loan that includes the
repairs.
SPEAKER_02 (09:45):
Right.
SPEAKER_00 (09:46):
Um but I I mean you said it needs a lot of work.
I mean, are we talking aboutlike 25,000 or are we talking
about like 50,000?
SPEAKER_02 (10:00):
I would say 25 is that.
SPEAKER_00 (10:03):
So according to how you do it, I mean you could do a
basic or I mean we're talkingabout I want to get it up to the
the neighborhood standards.
And when I look at propertiesthat have sold in the area, I
mean it's not like they'rethey're they're not putting
super high-end stuff, right?
I mean, we're talking aboutnormal tile, normal, you know,
(10:26):
stainless the not the lowest endappliance, but stainless steel
appliances.
You know, normal probably likethe the people don't.
Yeah, they're gone.
But I'm saying I'm gonna have toput appliances in there, right?
So that's what I'm talkingabout, is trying to figure out
how much that's gonna cost me.
Uh, but I'm not spendinganything over the top, you know.
I mean, just normal tile, normalfloor, normal finishes.
SPEAKER_02 (10:50):
That's what I do.
SPEAKER_00 (10:52):
So I'm trying to figure out if that's gonna be a
25, 30, 35, because that that'swhat matters um on the back side
of this.
SPEAKER_02 (11:01):
Um yeah, I bet you I I get a pretty bigger deal.
I get my better deal.
I get better.
SPEAKER_03 (11:18):
There you go.
Uh how about this?
SPEAKER_00 (11:33):
How about how about I buy the cat for cash so that
way the mortgage gets paid off?
But I'll I'll take care of allof the expenses and everything,
and you can walk away with fivethousand.
So we come in right aroundfifty.
SPEAKER_02 (11:55):
How about uh side two minutes?
SPEAKER_00 (12:01):
Right in the middle, huh?
unknown (12:03):
Mm-hmm.
SPEAKER_00 (12:04):
You know what's funny?
There's a book called NeverSplit the Difference.
Have you ever heard of thatbook?
SPEAKER_02 (12:09):
No.
Well, it technically I'm losingmy time.
SPEAKER_00 (12:14):
Oh, I I know.
I was gonna say I always thoughtthe book was kind of funny
because it was written by an FBInegotiator, and so it was like,
well, yeah, never split thedifference because the half the
difference was half of a lifefor him, you know.
Uh, but when it comes to this, Imean we're done about$2,500.
Um I mean that$2,500.
(12:34):
I always say this when I'm theseller,$2,500 means a lot more
to me than when I'm the buyer.
So I'm okay with that.
So let's do the the$52,500.
Um I can send you.
Let's see here.
I could probably let me give youa date.
(13:00):
Do you have a lockbox on theproperty where I'll be able to
gain access to see it?
SPEAKER_02 (13:05):
Right now I'm here at the property.
SPEAKER_00 (13:07):
I know, but I'm like tomorrow or or Friday.
What's that?
You're you're there?
Okay.
Um okay, so we can get out therepretty quickly.
Do you have the capability ofsending me pictures today?
SPEAKER_02 (13:25):
Uh-huh.
SPEAKER_00 (13:25):
Okay, cool.
SPEAKER_02 (13:26):
Um I kind of there's one room I kind of live in.
SPEAKER_00 (13:33):
That's fine.
Uh uh that's fine.
SPEAKER_02 (13:36):
It's just got clos my um boxes and stuff closed and
stuff like that.
SPEAKER_00 (13:41):
Why don't we put a closing date of on or before
August 9th?
That puts us at three weeks.
SPEAKER_02 (13:50):
Okay, and is your contract not gonna say that
you're not gonna try to sell itor um oh what's the word?
SPEAKER_00 (13:56):
Um assign it.
SPEAKER_02 (13:59):
Yeah, let them yeah, if like I went through that with
my house.
Now it was a big loss.
SPEAKER_00 (14:06):
Well, I'm not gonna lie to you.
I do I do wholesale properties.
SPEAKER_02 (14:12):
Okay.
Um I don't care if you do it onthe other time, but get it off
my side.
SPEAKER_00 (14:17):
Yeah, I mean, but I can't promise you that I'm not
gonna do that with your housebecause I might get out there
and I mean I have I've probablywholesaled, I don't know, 300
properties in Ohio.
So I might get out there and belike, I don't want to do this.
I've owned properties in Ohio,I've had rentals, I've done
(14:39):
flips, and I've done wholesales.
I might get out there and say, Idon't want to take this on, but
if I call my buddy and he'swanting to give me, you know, a
couple grand to assign it tohim, then I want to be able to
do that.
SPEAKER_02 (14:51):
Yeah, see, I don't want to have to deal with that
because if I put you put that ina contract, then it's pretty
much up for that.
You know.
SPEAKER_00 (14:59):
Well, it's it's all the same, it's all the same to
you.
Nothing changes for you.
SPEAKER_02 (15:04):
But no, it does.
It changes the contract, itchanges everything, changes the
dates.
SPEAKER_00 (15:09):
No.
Well, that's just cause theydidn't know what they were
doing.
SPEAKER_02 (15:15):
Well, they know what they didn't do, you know,
because they didn't put anyallowance into the self to make
it on.
SPEAKER_00 (15:22):
They didn't do what?
SPEAKER_02 (15:23):
They didn't put an allowance in my contract or
their contract to make anymoney.
Oh, well, gave us some justbecause my trade that is better.
SPEAKER_00 (15:34):
But Well, I'm not worried about that.
I mean, I'm not here to waste mytime, you know.
I mean, you don't want to wasteyour time.
I don't want to waste my timeeither.
Only way I feed my kids is beable to buy and sell properties.
SPEAKER_02 (15:49):
If you buy if your buddy wants it, you can buy it
the same day.
SPEAKER_03 (15:54):
Exactly.
That's what I'm saying.
SPEAKER_02 (15:57):
I mean the same day as you like you buy it and you
turn around and him buy it.
You can probably do it wherethere's a way.
I know there's a way you just doit through.
SPEAKER_00 (16:06):
Yeah, it's called the double close.
I mean, you can do that.
SPEAKER_02 (16:10):
Yeah.
SPEAKER_00 (16:12):
But I mean nothing changes for you.
Well, it does because then I putit in there that it's a lot that
you can do that, and that can itjust it's never worked out for
me how that's worked out for mefantastically, over like 2,500
times.
SPEAKER_02 (16:31):
I know.
But it doesn't I've had it, Ihad five of them at my house.
And I all I did was get I mean,they just the last day they say,
Oh, we're not doing it.
So Yeah.
SPEAKER_00 (16:43):
Well it worked.
I mean, how do you want me to bryou just want me to take the
assignment clause out of thecontract?
SPEAKER_02 (16:52):
Yeah.
Yeah, it's not put put you'renot gonna put it up in the MLL,
whatever it is.
SPEAKER_00 (16:59):
No, I d I don't do that goofiness.
SPEAKER_02 (17:02):
So that's what that wasn't my biggest the last time
that somebody tried to buy ithere.
I said, nope.
I said they didn't have me signthe contract.
I said right there's yourlegality.
I said it's not a legalcontract.
I'm the wife and they don't anyin Ohio do you have gallery
rights.
SPEAKER_00 (17:21):
Basically, yeah, so I I don't plan on listing your
property on the MLS.
I don't plan on doing that.
I I don't do that, but I'm notgonna say I I I won't wholesale
the property because that is oneof my exit strategies.
That is one of the things that Ido to make money.
SPEAKER_02 (17:47):
So if that's a problem, then contract, I want
the closing date, I want it togo through, you know, not like
well.
SPEAKER_00 (17:57):
That's what I'm saying.
I'm saying the closing date isAugust 9th, and I want it to go
through too, because that's howI make money.
SPEAKER_02 (18:08):
Mm-hmm.
Never understood why they don'thave to do a double closing.
SPEAKER_00 (18:14):
Well, most of the time it's because people don't
know how to do it or they don'thave the ability to do it.
SPEAKER_02 (18:22):
So easy.
But the turn said.
SPEAKER_00 (18:27):
I mean, but realistically, um, all that does
is uh cost me money.
I mean, it doesn't, nothingchanges for you.
I mean, if I if I were to do anassignment or a double close,
literally you wouldn't know thedifference and nothing would
(18:48):
happen different for you.
SPEAKER_02 (18:50):
Right, exactly.
And I know there's a double,it's not double cost though.
It is a double close, but it'snot double cost.
SPEAKER_00 (18:58):
Well, that's not necessarily true.
Sometimes uh they will make youtake out title insurance on the
initial close.
Um, and there's also certaintitle companies that will not
allow a pass-through of thosefunds, and they will require
either me to fund it or usetransactional funding on it.
Um, so there are there can beexpenses that come along with.
(19:20):
Normally it's gonna normallyit'll run it somewhere in the
range of one to one and a halfpercent.
SPEAKER_02 (19:31):
I don't know.
But I mean that's what we'relooking for, just get it done.
Don't have to stick around onwhat you know, which people, and
then they don't have the samecontract because you wouldn't
have the same contract.
You know, and then it starts allover.
SPEAKER_00 (19:47):
Well, Teresa, let me ask you a question.
Do I sound like the kind ofperson that likes to dick
around?
SPEAKER_02 (19:53):
Well, that's what I thought with the guy that I
thought we'll hired for my houseand he dicked around.
He dicked around.
SPEAKER_00 (20:00):
He didn't sound like me.
SPEAKER_02 (20:02):
Huh?
SPEAKER_00 (20:03):
He didn't sound like me.
SPEAKER_02 (20:06):
Uh he sounded pretty self self-assured of himself, I
can tell you that.
SPEAKER_00 (20:11):
Yeah.
SPEAKER_02 (20:13):
I mean how many times have we been doing this?
SPEAKER_00 (20:15):
I've been doing this for uh ten years.
I've uh I've done over 2,500transactions in all 50 states.
I've been on TV, I've got apodcast for the past seven
years.
SPEAKER_02 (20:31):
I've got a TV.
SPEAKER_00 (20:34):
I was on AE's zombie house flipping, December 3rd,
2023, 2022.
SPEAKER_02 (20:40):
2022.
SPEAKER_00 (20:42):
I I flipped a cellar house.
I flipped a cat shit house.
SPEAKER_02 (20:48):
A what chit?
SPEAKER_00 (20:50):
A cat shit.
It was literally it was l it wasliterally the house was full of
cat shit.
SPEAKER_02 (20:56):
Nice.
SPEAKER_00 (20:57):
It was not nice.
I got actually physically illfrom it.
It was it was all it was one ofthe worst things of all time.
They were like, hey, can you gostand in that kitchen again and
uh and say it this way?
We didn't like how you said it.
And I'm like, it's cuz I'mstanding in the middle of cat
shit and pissed, bro.
That's why.
Oh, it was horrible.
SPEAKER_02 (21:18):
If all the croppers out, well, the one in the um
kitchen, not the kitchen, I'msorry, the um front room, and it
was full of dog shit.
Okay, so I know all about that.
And then left three big catboxes full.
So I know all about this now.
SPEAKER_00 (21:34):
I love it.
All right, your email is uh twogreen.
All right, and it is this thisproperty is listed in both yours
and your husband's name, is thatcorrect?
No, no, j just Kevin?
SPEAKER_02 (21:52):
But um he's not ever gonna sign another contract
without me looking at it.
SPEAKER_00 (21:57):
Okay, so I'll send it directly to K to you, but
It'll be under Kevin's name.
unknown (22:02):
Right.
SPEAKER_02 (22:02):
Uh now I want you to put my name on there because I
have to sign it because I havedial rewrites.
SPEAKER_00 (22:07):
Okay, so send it.
So, but on the name, I'm gonnaput Kevin Masters.
Is that okay?
SPEAKER_02 (22:14):
Right.
unknown (22:14):
Okay.
SPEAKER_02 (22:15):
And then you put down at the very bottom, put a
line, put my name.
The very bottom.
That's all I have to be.
SPEAKER_03 (22:22):
Okay.
SPEAKER_02 (22:22):
I signed up by the contract.
And he works night, so it'll behitting this getting your
construction up there.
He's building, he's on 99.
SPEAKER_00 (22:33):
Okay, so when I put your name, what do I say next to
it?
SPEAKER_02 (22:37):
Just wife.
SPEAKER_00 (22:39):
Okay.
So Kevin Masters, wife, TeresaMasters.
Okay.
What do you want me to take outof my contract?
Because I it's I can deleteanything.
You just don't want it to saythat I can assign the contract.
That's it?
SPEAKER_02 (22:54):
And then I well, I don't know.
I don't know what it says.
That's the thing.
SPEAKER_00 (22:58):
I mean, it says I'm gonna buy the property for what
we agreed to?
50 52.5.
52.5 on August 9th, and we'regonna close that whatever title,
it's like Fire Land title orsomething like that.
Or actually, no, we'll doEmpora.
We'll do Empora title.
Um, and then we're abiding bythe laws of Ohio, and it has on
(23:21):
there that I have the rights touh assign the contract if I
want.
SPEAKER_02 (23:27):
I thought you were taking that out.
SPEAKER_00 (23:29):
Well, that's what I'm saying.
Do you want me to take that out?
SPEAKER_02 (23:32):
Yep.
SPEAKER_00 (23:35):
I love how you're sticking to it.
SPEAKER_02 (23:38):
Yep.
Because I've been through it.
SPEAKER_00 (23:40):
I mean, but deep down, you know it doesn't
actually matter, right?
SPEAKER_02 (23:45):
Well, it kind of does.
It's a good one to court.
Because deep down, you can signany contract you want.
But they do.
You know.
SPEAKER_00 (23:58):
I mean, all I'm saying is is all you're doing is
if I decide to wholesale this,you're costing me like five
hundred dollars.
That's like that's like a roundof groceries in this economy.
SPEAKER_02 (24:15):
If you don't have anything nowhere to cook, you
you you do eat a lot cheaper.
SPEAKER_00 (24:20):
Uh you don't have an 11-year-old boy, I don't think.
Eleven-year-old boy eats a lotof groceries.
SPEAKER_02 (24:28):
Yeah, we don't have older brothers.
SPEAKER_00 (24:30):
There you go.
All right.
I'm gonna I'm gonna get thissent out to you.
I'll take that out.
Um, anything else that I I needto to worry about before I send
the contract to you?
SPEAKER_02 (24:39):
I don't um not putting it not advertising to
put it out there, I guess.
SPEAKER_00 (24:43):
Well uh I don't have anything on there that says I
will put it on the MOS, but I'veWell a lot of them do.
Yeah, I don't have any of thatbullshit.
Um when would you be able tosign this bike?
SPEAKER_02 (24:55):
Well, I don't know.
I have to get a hold of him.
I mean Iowa, I'll read it, tellhim what it's on there, and then
I'll have to send it to him, lethim kind of read it.
And I mean I could do it bymidnight because he's working
night.
SPEAKER_00 (25:10):
Well, what I'm saying, if I give you until
tomorrow, because what I put onthere is is that the contract is
null avoid if it's not signed bya certain date.
SPEAKER_02 (25:18):
So tomorrow then.
SPEAKER_03 (25:19):
Do tomorrow.
SPEAKER_00 (25:20):
Okay.
All right.
I'm gonna I'm gonna get thiswritten up.
I'll get it sent to you.
Uh if you got any questions, youcan call us number back.
My name's RJ Bates.
And uh, yeah, if you get boredtonight, look us up.
Zombie House Flipping, December3rd, 2022.
(25:43):
You'll see a strikingly handsomeman with an amazing beard.
That's me.
SPEAKER_02 (25:48):
Oh, okay.
I know what man looked like withbeards.
Okay.
SPEAKER_00 (25:50):
Yeah.
All right.
I appreciate you, Teresa.
SPEAKER_02 (25:54):
All right.
SPEAKER_00 (25:55):
All right, bye-bye.
Hey, shocker.
That was the tenth dial.
Welcome back to seller call films a series where
I'm going to show you guys alive seller call, but give you
one specific thing to take away.
And this is a live seller callfrom a couple of years ago,
where for the first half of theseller call almost everything
goes perfect.
And it appears, hey, this isgoing to be a signed contract,
(00:25):
everything's great.
And then when I'm preparing forthe close and to send the
seller, the contract assigned,oh, the objection shows up.
The objection that could end upcosting me the deal.
And so I want you guys to reallykind of pay attention to how I
kind of have to recenter myselfand kind of get back into the
(00:50):
pocket of not being emotional,not being mentally done with the
goal where it's like, oh, she'sso ready to sign the contract.
We're good.
And then all of a sudden, no, Istill have to be prepared
because this was an objectionthat she had based on a prior
experience with anotherwholesaler.
(01:11):
And you guys know for a fact, ifyou've been doing this long
enough, that hey, a badexperience with another
wholesaler can be enough to killa deal.
And so this isn't an objectionthat we can kind of just flop
off and just be like, don'tworry about it.
I'm different.
And so it takes me essentiallytwice as long as I was
(01:33):
anticipating to end up closingthis deal than what originally I
thought, because hey, we're agood fit, it's a good fit.
This is a win-win-win situation.
We're going to get the sidecontract.
Boom, the objection shows up.
So that's what I want you guyspaying attention to.
Obviously, you're going to seethe closer formula and
everything come out, but justpay attention about the
(01:54):
15-minute mark of the sellercall is when that objection
comes up, and kind of how I haveto reset her, refocus, and make
sure I get her to a point towhere she's ready to proceed.
So enjoy this episode of LiveSeller Call Film Room.
Make sure you like the video,and we'll see you guys tomorrow.
(02:16):
That lead was$60.
unknown (02:19):
Come on.
SPEAKER_00 (02:20):
Hi, is Teresa there?
SPEAKER_02 (02:22):
This is her.
SPEAKER_00 (02:23):
Hey Teresa, this is RJ Bates calling about your
property there on Oak Street.
You had uh entered this on mywebsite saying that you're
looking to sell.
Is that correct?
SPEAKER_02 (02:32):
Yep.
SPEAKER_00 (02:33):
Awesome.
How much are you looking to getfor it?
SPEAKER_02 (02:36):
55.
SPEAKER_00 (02:38):
55.
All right.
Tell me a little bit about whatyou got going on.
SPEAKER_02 (02:43):
Um, it's a big garage.
I would say what at least threecars, if not one.
It's a big garage.
Um I've got three-bedroom house.
It needs a lot of love.
Um it's I don't remember squarefreeze right there, second.
(03:03):
1100.
It's got a shed out back, it'sgot a um carport on the other
side of the house.
It's got three-quarters wraparound the ground um porch, step
around porch, three-quarters ofthe way, you know, from one end
to the other.
But um, we had runners in here,they just scored a lot.
(03:26):
I take care of a lot.
Just I'm done taking care of it.
unknown (03:31):
Okay.
SPEAKER_02 (03:32):
We live in Texas, so we're wanting to sell it.
SPEAKER_00 (03:34):
No kidding.
What part of Texas?
I'm in Fort Worth.
Yeah.
SPEAKER_02 (03:44):
Disney book.
SPEAKER_00 (03:45):
Yeah.
All right.
So you said 50.
How much were those tenantspaying?
SPEAKER_02 (03:52):
Uh he owes I think he owes forty, forty-five, I
think.
He still owes on it.
SPEAKER_00 (03:58):
Oh no, no, no.
I'm saying the the tenants, howmuch were the the tenants paying
a month?
SPEAKER_02 (04:03):
Well, we we only made a pay seven.
SPEAKER_00 (04:05):
Gotcha.
SPEAKER_02 (04:06):
We could have got more because the um people that
um rent apartments around herejust like you know, like a major
ton of them in one apartmentbuilding.
And that's just for anapartment.
SPEAKER_03 (04:24):
Um, you said it needs uh a lot of love.
SPEAKER_02 (04:28):
Is is it the roof twenty is old.
So you can let a slap one on topof it or cure.
I mean, I haven't found anyleaky I could do it.
I could make some on and off thetable.
Do some of the storms and allthat.
But that doesn't mean it'sanything.
(04:48):
I just haven't found any.
I mean, I haven't nothing's lateto have that that I saw.
But I think that got fixed.
SPEAKER_00 (04:58):
But like on the inside it needs like cosmetic
updates and stuff like that tomake it, you know, rent ready.
SPEAKER_02 (05:05):
They took the they took the stove and the
refrigerator.
Um yeah, it would need I mean Ialready did the bathroom and
painted the kitchen.
I mean I painted the kitchen thebathroom and put a new flooring
in it in the kitchen.
I painted it and then and umjust try to clean things up and
keep them, you know, up to caras much as I could.
(05:29):
But I know if it was me and Iwas gonna do more to it, I would
just put because I got sidingdownstairs, not siding, I'm
sorry, um, um handling.
And it makes the wall look somuch better, because this is an
old house, you know.
SPEAKER_00 (05:43):
Right.
SPEAKER_02 (05:44):
And it's made like an old house.
So that's what I would.
I mean, it would be so muchcheaper and so much easier to
put enough paint every time orwhatever.
I can't whatever.
And it makes it look like a holein the house.
SPEAKER_03 (06:08):
All right, let's see here.
SPEAKER_00 (06:11):
How'd you come up with 55?
Not that it's a bad number, I'mjust curious.
SPEAKER_02 (06:16):
Because he owed 45, and since I've been putting a
lot of sweat warp in here, Ithink it's worth at least my my
sweat workers worth at least inhell over the last few months.
SPEAKER_00 (06:28):
He said, I want I want to make some money.
SPEAKER_02 (06:32):
Exactly.
Exactly.
And I'm here, I'm not workingfor video.
That's how we came up with it.
SPEAKER_03 (06:41):
All right.
SPEAKER_00 (06:45):
Give me just a second here.
I we're gonna do some mathfigure out what I can do here.
SPEAKER_02 (06:54):
I mean the problem was our runner he just he took
he was an easy pushover.
And you know, they could getbehind and he'd just let 'em,
because of what excuse came upwith.
And then we're we were wrong.
SPEAKER_00 (07:12):
So once I fix it up, what do you think it's gonna be
worth?
SPEAKER_02 (07:18):
I mean, it has to go from anywhere from eighty
thousand to I mean the houseacross across the three for me.
They went in and recutted it anddid it all of it, and old pack
and all, and they got like ahundred and I don't know two
hundred and thirty-five thousanddollars out of it.
SPEAKER_00 (07:35):
They got two thirty-five?
SPEAKER_02 (07:38):
Yeah, yeah, it was like an old corn, really cool
house, but and it was three.
But they put a lot of work intoit.
Like I said, they gutted thewhole thing.
SPEAKER_00 (07:51):
Was it bigger than yours?
SPEAKER_02 (07:54):
Well, yeah.
Yeah.
I thought they should I mean Iwould say a hundred thousand
either.
Because the the lot the landthat it's on is more it's more
than half an acre, and it's it'sjust like a nice area to be.
SPEAKER_00 (08:11):
You do have a a big lot, I will say that.
SPEAKER_02 (08:15):
Yeah.
And everybody loves the uh goingin.
And I've been I went in andcleaned out and got rid of all
the weeds.
My you know, I had help, and wegot rid of real weeds and trees.
Yeah, that's the word weedtrees.
And we just got it the wholething made it look real.
So that's what taken care of.
SPEAKER_00 (08:38):
So that big white garage at the back side, that
that's yours, right?
SPEAKER_02 (08:43):
Yeah.
Yeah, that's one thing.
It's a big garage.
I mean, it used to be, myunderstanding is it would be it
was a gas station at one time,long a long time ago.
SPEAKER_00 (09:01):
And it would make it on the mortgage.
On the mortgage, um, what what'sthe monthly payment on the
mortgage?
SPEAKER_02 (09:14):
Um, I think he he has a high interest rate.
Um, because when he did it thatway back when I think it's I
don't I want to say 7,000 sevenpercent in the interest rate.
SPEAKER_03 (09:24):
Gotcha.
SPEAKER_00 (09:26):
Cause there there is a part of me it's like, well,
what if I just gave you 10K andI took over the mortgage?
Um that could be that could bemore beneficial.
But if it needs a lot ofrepairs, not really, because
it'd almost be better for me toget a loan that includes the
repairs.
SPEAKER_02 (09:45):
Right.
SPEAKER_00 (09:46):
Um but I I mean you said it needs a lot of work.
I mean, are we talking aboutlike 25,000 or are we talking
about like 50,000?
SPEAKER_02 (10:00):
I would say 25 is that.
SPEAKER_00 (10:03):
So according to how you do it, I mean you could do a
basic or I mean we're talkingabout I want to get it up to the
the neighborhood standards.
And when I look at propertiesthat have sold in the area, I
mean it's not like they'rethey're they're not putting
super high-end stuff, right?
I mean, we're talking aboutnormal tile, normal, you know,
(10:26):
stainless the not the lowest endappliance, but stainless steel
appliances.
You know, normal probably likethe the people don't.
Yeah, they're gone.
But I'm saying I'm gonna have toput appliances in there, right?
So that's what I'm talkingabout, is trying to figure out
how much that's gonna cost me.
Uh, but I'm not spendinganything over the top, you know.
I mean, just normal tile, normalfloor, normal finishes.
SPEAKER_02 (10:50):
That's what I do.
SPEAKER_00 (10:52):
So I'm trying to figure out if that's gonna be a
25, 30, 35, because that that'swhat matters um on the back side
of this.
SPEAKER_02 (11:01):
Um yeah, I bet you I I get a pretty bigger deal.
I get my better deal.
I get better.
SPEAKER_03 (11:18):
There you go.
Uh how about this?
SPEAKER_00 (11:33):
How about how about I buy the cat for cash so that
way the mortgage gets paid off?
But I'll I'll take care of allof the expenses and everything,
and you can walk away with fivethousand.
So we come in right aroundfifty.
SPEAKER_02 (11:55):
How about uh side two minutes?
SPEAKER_00 (12:01):
Right in the middle, huh?
unknown (12:03):
Mm-hmm.
SPEAKER_00 (12:04):
You know what's funny?
There's a book called NeverSplit the Difference.
Have you ever heard of thatbook?
SPEAKER_02 (12:09):
No.
Well, it technically I'm losingmy time.
SPEAKER_00 (12:14):
Oh, I I know.
I was gonna say I always thoughtthe book was kind of funny
because it was written by an FBInegotiator, and so it was like,
well, yeah, never split thedifference because the half the
difference was half of a lifefor him, you know.
Uh, but when it comes to this, Imean we're done about$2,500.
Um I mean that$2,500.
(12:34):
I always say this when I'm theseller,$2,500 means a lot more
to me than when I'm the buyer.
So I'm okay with that.
So let's do the the$52,500.
Um I can send you.
Let's see here.
I could probably let me give youa date.
(13:00):
Do you have a lockbox on theproperty where I'll be able to
gain access to see it?
SPEAKER_02 (13:05):
Right now I'm here at the property.
SPEAKER_00 (13:07):
I know, but I'm like tomorrow or or Friday.
What's that?
You're you're there?
Okay.
Um okay, so we can get out therepretty quickly.
Do you have the capability ofsending me pictures today?
SPEAKER_02 (13:25):
Uh-huh.
SPEAKER_00 (13:25):
Okay, cool.
SPEAKER_02 (13:26):
Um I kind of there's one room I kind of live in.
SPEAKER_00 (13:33):
That's fine.
Uh uh that's fine.
SPEAKER_02 (13:36):
It's just got clos my um boxes and stuff closed and
stuff like that.
SPEAKER_00 (13:41):
Why don't we put a closing date of on or before
August 9th?
That puts us at three weeks.
SPEAKER_02 (13:50):
Okay, and is your contract not gonna say that
you're not gonna try to sell itor um oh what's the word?
SPEAKER_00 (13:56):
Um assign it.
SPEAKER_02 (13:59):
Yeah, let them yeah, if like I went through that with
my house.
Now it was a big loss.
SPEAKER_00 (14:06):
Well, I'm not gonna lie to you.
I do I do wholesale properties.
SPEAKER_02 (14:12):
Okay.
Um I don't care if you do it onthe other time, but get it off
my side.
SPEAKER_00 (14:17):
Yeah, I mean, but I can't promise you that I'm not
gonna do that with your housebecause I might get out there
and I mean I have I've probablywholesaled, I don't know, 300
properties in Ohio.
So I might get out there and belike, I don't want to do this.
I've owned properties in Ohio,I've had rentals, I've done
(14:39):
flips, and I've done wholesales.
I might get out there and say, Idon't want to take this on, but
if I call my buddy and he'swanting to give me, you know, a
couple grand to assign it tohim, then I want to be able to
do that.
SPEAKER_02 (14:51):
Yeah, see, I don't want to have to deal with that
because if I put you put that ina contract, then it's pretty
much up for that.
You know.
SPEAKER_00 (14:59):
Well, it's it's all the same, it's all the same to
you.
Nothing changes for you.
SPEAKER_02 (15:04):
But no, it does.
It changes the contract, itchanges everything, changes the
dates.
SPEAKER_00 (15:09):
No.
Well, that's just cause theydidn't know what they were
doing.
SPEAKER_02 (15:15):
Well, they know what they didn't do, you know,
because they didn't put anyallowance into the self to make
it on.
SPEAKER_00 (15:22):
They didn't do what?
SPEAKER_02 (15:23):
They didn't put an allowance in my contract or
their contract to make anymoney.
Oh, well, gave us some justbecause my trade that is better.
SPEAKER_00 (15:34):
But Well, I'm not worried about that.
I mean, I'm not here to waste mytime, you know.
I mean, you don't want to wasteyour time.
I don't want to waste my timeeither.
Only way I feed my kids is beable to buy and sell properties.
SPEAKER_02 (15:49):
If you buy if your buddy wants it, you can buy it
the same day.
SPEAKER_03 (15:54):
Exactly.
That's what I'm saying.
SPEAKER_02 (15:57):
I mean the same day as you like you buy it and you
turn around and him buy it.
You can probably do it wherethere's a way.
I know there's a way you just doit through.
SPEAKER_00 (16:06):
Yeah, it's called the double close.
I mean, you can do that.
SPEAKER_02 (16:10):
Yeah.
SPEAKER_00 (16:12):
But I mean nothing changes for you.
Well, it does because then I putit in there that it's a lot that
you can do that, and that can itjust it's never worked out for
me how that's worked out for mefantastically, over like 2,500
times.
SPEAKER_02 (16:31):
I know.
But it doesn't I've had it, Ihad five of them at my house.
And I all I did was get I mean,they just the last day they say,
Oh, we're not doing it.
So Yeah.
SPEAKER_00 (16:43):
Well it worked.
I mean, how do you want me to bryou just want me to take the
assignment clause out of thecontract?
SPEAKER_02 (16:52):
Yeah.
Yeah, it's not put put you'renot gonna put it up in the MLL,
whatever it is.
SPEAKER_00 (16:59):
No, I d I don't do that goofiness.
SPEAKER_02 (17:02):
So that's what that wasn't my biggest the last time
that somebody tried to buy ithere.
I said, nope.
I said they didn't have me signthe contract.
I said right there's yourlegality.
I said it's not a legalcontract.
I'm the wife and they don't anyin Ohio do you have gallery
rights.
SPEAKER_00 (17:21):
Basically, yeah, so I I don't plan on listing your
property on the MLS.
I don't plan on doing that.
I I don't do that, but I'm notgonna say I I I won't wholesale
the property because that is oneof my exit strategies.
That is one of the things that Ido to make money.
SPEAKER_02 (17:47):
So if that's a problem, then contract, I want
the closing date, I want it togo through, you know, not like
well.
SPEAKER_00 (17:57):
That's what I'm saying.
I'm saying the closing date isAugust 9th, and I want it to go
through too, because that's howI make money.
SPEAKER_02 (18:08):
Mm-hmm.
Never understood why they don'thave to do a double closing.
SPEAKER_00 (18:14):
Well, most of the time it's because people don't
know how to do it or they don'thave the ability to do it.
SPEAKER_02 (18:22):
So easy.
But the turn said.
SPEAKER_00 (18:27):
I mean, but realistically, um, all that does
is uh cost me money.
I mean, it doesn't, nothingchanges for you.
I mean, if I if I were to do anassignment or a double close,
literally you wouldn't know thedifference and nothing would
(18:48):
happen different for you.
SPEAKER_02 (18:50):
Right, exactly.
And I know there's a double,it's not double cost though.
It is a double close, but it'snot double cost.
SPEAKER_00 (18:58):
Well, that's not necessarily true.
Sometimes uh they will make youtake out title insurance on the
initial close.
Um, and there's also certaintitle companies that will not
allow a pass-through of thosefunds, and they will require
either me to fund it or usetransactional funding on it.
Um, so there are there can beexpenses that come along with.
(19:20):
Normally it's gonna normallyit'll run it somewhere in the
range of one to one and a halfpercent.
SPEAKER_02 (19:31):
I don't know.
But I mean that's what we'relooking for, just get it done.
Don't have to stick around onwhat you know, which people, and
then they don't have the samecontract because you wouldn't
have the same contract.
You know, and then it starts allover.
SPEAKER_00 (19:47):
Well, Teresa, let me ask you a question.
Do I sound like the kind ofperson that likes to dick
around?
SPEAKER_02 (19:53):
Well, that's what I thought with the guy that I
thought we'll hired for my houseand he dicked around.
He dicked around.
SPEAKER_00 (20:00):
He didn't sound like me.
SPEAKER_02 (20:02):
Huh?
SPEAKER_00 (20:03):
He didn't sound like me.
SPEAKER_02 (20:06):
Uh he sounded pretty self self-assured of himself, I
can tell you that.
SPEAKER_00 (20:11):
Yeah.
SPEAKER_02 (20:13):
I mean how many times have we been doing this?
SPEAKER_00 (20:15):
I've been doing this for uh ten years.
I've uh I've done over 2,500transactions in all 50 states.
I've been on TV, I've got apodcast for the past seven
years.
SPEAKER_02 (20:31):
I've got a TV.
SPEAKER_00 (20:34):
I was on AE's zombie house flipping, December 3rd,
2023, 2022.
SPEAKER_02 (20:40):
2022.
SPEAKER_00 (20:42):
I I flipped a cellar house.
I flipped a cat shit house.
SPEAKER_02 (20:48):
A what chit?
SPEAKER_00 (20:50):
A cat shit.
It was literally it was l it wasliterally the house was full of
cat shit.
SPEAKER_02 (20:56):
Nice.
SPEAKER_00 (20:57):
It was not nice.
I got actually physically illfrom it.
It was it was all it was one ofthe worst things of all time.
They were like, hey, can you gostand in that kitchen again and
uh and say it this way?
We didn't like how you said it.
And I'm like, it's cuz I'mstanding in the middle of cat
shit and pissed, bro.
That's why.
Oh, it was horrible.
SPEAKER_02 (21:18):
If all the croppers out, well, the one in the um
kitchen, not the kitchen, I'msorry, the um front room, and it
was full of dog shit.
Okay, so I know all about that.
And then left three big catboxes full.
So I know all about this now.
SPEAKER_00 (21:34):
I love it.
All right, your email is uh twogreen.
All right, and it is this thisproperty is listed in both yours
and your husband's name, is thatcorrect?
No, no, j just Kevin?
SPEAKER_02 (21:52):
But um he's not ever gonna sign another contract
without me looking at it.
SPEAKER_00 (21:57):
Okay, so I'll send it directly to K to you, but
It'll be under Kevin's name.
unknown (22:02):
Right.
SPEAKER_02 (22:02):
Uh now I want you to put my name on there because I
have to sign it because I havedial rewrites.
SPEAKER_00 (22:07):
Okay, so send it.
So, but on the name, I'm gonnaput Kevin Masters.
Is that okay?
SPEAKER_02 (22:14):
Right.
unknown (22:14):
Okay.
SPEAKER_02 (22:15):
And then you put down at the very bottom, put a
line, put my name.
The very bottom.
That's all I have to be.
SPEAKER_03 (22:22):
Okay.
SPEAKER_02 (22:22):
I signed up by the contract.
And he works night, so it'll behitting this getting your
construction up there.
He's building, he's on 99.
SPEAKER_00 (22:33):
Okay, so when I put your name, what do I say next to
it?
SPEAKER_02 (22:37):
Just wife.
SPEAKER_00 (22:39):
Okay.
So Kevin Masters, wife, TeresaMasters.
Okay.
What do you want me to take outof my contract?
Because I it's I can deleteanything.
You just don't want it to saythat I can assign the contract.
That's it?
SPEAKER_02 (22:54):
And then I well, I don't know.
I don't know what it says.
That's the thing.
SPEAKER_00 (22:58):
I mean, it says I'm gonna buy the property for what
we agreed to?
50 52.5.
52.5 on August 9th, and we'regonna close that whatever title,
it's like Fire Land title orsomething like that.
Or actually, no, we'll doEmpora.
We'll do Empora title.
Um, and then we're abiding bythe laws of Ohio, and it has on
(23:21):
there that I have the rights touh assign the contract if I
want.
SPEAKER_02 (23:27):
I thought you were taking that out.
SPEAKER_00 (23:29):
Well, that's what I'm saying.
Do you want me to take that out?
SPEAKER_02 (23:32):
Yep.
SPEAKER_00 (23:35):
I love how you're sticking to it.
SPEAKER_02 (23:38):
Yep.
Because I've been through it.
SPEAKER_00 (23:40):
I mean, but deep down, you know it doesn't
actually matter, right?
SPEAKER_02 (23:45):
Well, it kind of does.
It's a good one to court.
Because deep down, you can signany contract you want.
But they do.
You know.
SPEAKER_00 (23:58):
I mean, all I'm saying is is all you're doing is
if I decide to wholesale this,you're costing me like five
hundred dollars.
That's like that's like a roundof groceries in this economy.
SPEAKER_02 (24:15):
If you don't have anything nowhere to cook, you
you you do eat a lot cheaper.
SPEAKER_00 (24:20):
Uh you don't have an 11-year-old boy, I don't think.
Eleven-year-old boy eats a lotof groceries.
SPEAKER_02 (24:28):
Yeah, we don't have older brothers.
SPEAKER_00 (24:30):
There you go.
All right.
I'm gonna I'm gonna get thissent out to you.
I'll take that out.
Um, anything else that I I needto to worry about before I send
the contract to you?
SPEAKER_02 (24:39):
I don't um not putting it not advertising to
put it out there, I guess.
SPEAKER_00 (24:43):
Well uh I don't have anything on there that says I
will put it on the MOS, but I'veWell a lot of them do.
Yeah, I don't have any of thatbullshit.
Um when would you be able tosign this bike?
SPEAKER_02 (24:55):
Well, I don't know.
I have to get a hold of him.
I mean Iowa, I'll read it, tellhim what it's on there, and then
I'll have to send it to him, lethim kind of read it.
And I mean I could do it bymidnight because he's working
night.
SPEAKER_00 (25:10):
Well, what I'm saying, if I give you until
tomorrow, because what I put onthere is is that the contract is
null avoid if it's not signed bya certain date.
SPEAKER_02 (25:18):
So tomorrow then.
SPEAKER_03 (25:19):
Do tomorrow.
SPEAKER_00 (25:20):
Okay.
All right.
I'm gonna I'm gonna get thiswritten up.
I'll get it sent to you.
Uh if you got any questions, youcan call us number back.
My name's RJ Bates.
And uh, yeah, if you get boredtonight, look us up.
Zombie House Flipping, December3rd, 2022.
(25:43):
You'll see a strikingly handsomeman with an amazing beard.
That's me.
SPEAKER_02 (25:48):
Oh, okay.
I know what man looked like withbeards.
Okay.
SPEAKER_00 (25:50):
Yeah.
All right.
I appreciate you, Teresa.
SPEAKER_02 (25:54):
All right.
SPEAKER_00 (25:55):
All right, bye-bye.
Hey, shocker.
That was the tenth dial.
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