The 5 Step Dispo Formula | Wholesaling Quickies - The Titanium Vault hosted by RJ Bates III

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome back to Wholesaling Quickies, the series
where you actually think Icould teach you how to wholesale
in less than five minutes.
It's adorable, alright.
So today we're going to betalking about the dispo formula.
You know, you got the propertyunder contract and now you got

(00:22):
to find that end buyer, becausethat's where we make our money.
So we've got to figure out howto dispo.
Now here's the thing, guys Icannot teach you how to dispo a
property in less than fiveminutes.
It's impossible.
But what I can give you is avery simple five-step formula on
how to talk to your end buyers,and then I'll give you some
resources at the end so you canactually learn how to do

(00:43):
dispositions.
Now let's say you've identifiedthe contact information for an
end buyer.
You pick up the phone and youcall them.
First thing that you want to dois verify that they are
currently in the market to bepurchasing a property in that
city Not the zip code, not thecounty, but the city.
Once they have verified thatthey are looking to buy a
property in that city, you wantto go over the numbers of the

(01:05):
property that you have.
I've got a great opportunityover here at 123 Main Street, I
think, as a fix and flip, youcan make like $40,000 profit
conservatively on this deal.
Now, before you pause and letthem to respond, you want to
move on to their motivation, thebuyer's motivation.
So, with that being said, if wewere to present you this deal

(01:26):
and you were to see that youcould make $40,000 flipping a
house in this city, that'd beinteresting to you.
Now let's talk about what's yourprocess.
Would you need to go, do awalkthrough?
Are you remote?
Would you send a contractor?
Do you buy sight unseen, justbased off of pictures and videos
?
What does your process looklike?
This is a way for you to vetout the buyer and understand

(01:47):
their process.
It's also good for you to goahead and ask how do you fund
your deals?
Is it with private money, hardmoney, lender, or are you just
cash?
This is a vetting process andwe're filling each other out.
Now, once you do that, go aheadand send them the marketing
packet, all the information thatyou have, so they can see the
pictures, they can get theaddress and then verify the
numbers with them.
Preferably, keep the buyer onthe phone.

(02:08):
Now here's the thing.
These are busy entrepreneurs,just like you, so you don't want
to run them off by saying hey,stay on the phone.
This is not a motivated seller.
Sometimes you just got to sendthem the information and
reconnect at a later time.
If so, just schedule time forwhen you can reconnect.
But if you are able to keepthem on the phone, go over and
verify the numbers.
Sometimes there will be adisagreement on the after repair

(02:30):
value, maybe the amount ofrepairs, but ultimately the most
important number for you is theamount of profit that they're
walking away with.
The reason why this isimportant?
Because if you use our profitcalculator, you can reverse
engineer the numbers the sameway we do when we have to
educate the motivated sellers.
Here's what I'm seeing on theafter repair value.
Here's what I'm seeing on theamount of rehab.
Based off of that, I'vecalculated holding costs and

(02:53):
closing costs.
This is what I have for profit.
A lot of times what we find outis the end buyers don't even
really know how much profitthey're making.
They're more concerned about apercentage of the ARV.
This is why it's important topoint out would you be willing
to do $40,000 worth of work tomake $40,000 in profit?
And sometimes that'll get themto click over and say, yeah, I

(03:15):
would be willing to do that Now.
The last step, step five, is toschedule the walkthrough.
Now, sometimes you don't haveto schedule a walkthrough
because they'll say, man, thisis a banger of a deal and I'm
ready to take it.
But if not, schedule thatwalkthrough, make sure that you
understand exactly what theirbuying process is going to look
like.
Walkthrough.
I'll call you back a day afteror an hour after with my offer.

(03:37):
Explain to them your process.
Once you've signed theassignment, I'm going to need
$5,000 non-refundable EMD andthen we'll open up title and
this is the closing date.
Does all of that work for youOnce it does?
Schedule that walkthrough andget your deal sold?
Now, like I said, I haveresources for you.
One if you want to go into morein-depth about these five steps
to sell your deals, watch thisvideo.

(03:59):
If you want to watch meactually dispo a deal live,
watch this video.
Otherwise, like this one.

All Episodes

The 5 Step Dispo Formula | Wholesaling Quickies

Episode Transcript

Popular Podcasts

Dateline NBC

24/7 News: The Latest

Therapy Gecko

.css-15opob5{left:0;position:absolute;top:0.8rem;} All Episodes

.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}The 5 Step Dispo Formula | Wholesaling Quickies