April 23, 2025 • 20 mins
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:11):
let's talk about our first ever wholesale deal.
Now this is fresh off of usspending 65 000 on my mom's
american express so we couldlearn how to wholesale real
estate off of the MLS.
These are scary times.
Cassie and I had been anentrepreneur for about four
(00:33):
years.
We were running our remodelinggeneral contracting business.
It was somewhat successful Imean, it was paying the bills
but we weren't satisfied.
We weren't really fulfilled inwhat we were doing, but we
weren't satisfied.
We weren't really fulfilled inwhat we were doing and we always
knew that we wanted to dosomething in real estate
investing.
Now, that being said, we had noidea what wholesaling really
(00:54):
was, outside of the fact thatseveral of our investor clients
that had hired us to do therehab, the actual work on the
property, had explained to usthat, hey, we got this property
from a wholesaler.
So we were familiar with thenames of New Western
Acquisitions, net Worth Realty,the big box wholesalers, but we
(01:14):
didn't really know how they weregetting the deals, how they
were comping and underwritingthose deals, especially how they
were finding the end buyers,the actual investors.
So when we spent the money, the$65,000 to learn how to
wholesale, they explained to usthat it's as simple as going on
to Realtorcom, redfin, zillowand searching the MLS and
(01:39):
finding properties that arelisted that have key trigger
words like rehab, investor,special selling, as is
fixer-upper, things like that.
So my personality is as soon asI have an idea of the direction
that I need to head, I starttaking immediate action.
(02:01):
That's what I did in August of2014.
Now I'm going to share my screenhere real quick.
This is our first everwholesale transaction 2300
Sunset Lane in Arlington, texas.
Now, this picture was taken inDecember of 2023, but, to be
honest with you, the propertyreally didn't look much
different when we wholesaledthis back in 2014.
(02:25):
From the outside, it prettymuch looked just like this.
Now I'm showing you this GoogleStreet View to show you this
fence right here, that gate.
That gate ends up being a hugepart of the story.
Now I'm going to show you theZillow listing right here.
August 8th 2014,.
2300 Sunset Lane was listed forsale for $96,000.
(02:50):
Now, the reason why this isthis gate that I'm showing you
is because, when we saw this,the reason why I offered on this
property, is because it waspretty much fully gutted on the
inside.
It needed everything.
It was one of those sold, as isinvestor special type
(03:11):
properties.
All right, and what I was toldwas to reach out to an investor
friendly realtor in your area.
Now this deal.
I reached out to a gentleman bythe name of Brian St Clair and
I did several deals with Brianand he was a great guy, super
helpful at the beginning.
(03:32):
So what we did was we reachedout to Brian and we said, hey,
brian, we're going to go findthese deals off the MLS and we
want you to put in the offersfor us.
Now, I'll never forget when Iwas learning this and I was
sitting inside the hotel andlistening to the coaches explain
to us how to do this One of mybiggest questions was how do I
(03:54):
actually place an offer?
See, I never purchased a housebefore, so I had no clue how to
actually make an offer on aproperty.
We went through how to comp it,how to underwrite it, how to
use our calculators, a property.
We went through how to comp it,how to underwrite it, how to
use our calculators, all thesedifferent things, and I remember
raising my hand and saying whatdo you mean by place to offer?
I was thinking there must'vebeen some sort of portal or
(04:16):
something like that.
And then finally it becameapparent All you have to do is
just reach out to Brian and sayhey, brian, I want to place an
offer on this property.
So we did.
I reached out to Brian and Isaid I want to offer $90,000 on
this property at 2300 SunsetLane in Arlington, texas.
I did the free proof of fundsfrom besttransactionalfundingcom
(04:42):
the fake proof of fundsessentially.
I will say as much as I don'trecommend you using those.
They are valid proof of funds,they have been investigated and
it does keep track of whoactually downloads those PDFs,
requests those PDFs and for howmuch.
So that proof of funds wasactually legitimate, even though
(05:05):
I've never actually gotten aloan from Best Transactional
Funding so early on, I just didwhat the teacher stopped me to
do Download this proof of fundsfor $90,000, submit an offer
through Brian St Clair, thelocal realtor, who's impressive
or friendly and, sure enough,2300 Sunset Lane offer is
(05:28):
accepted.
So here in the state of Texas wehave to pay for our inspection
periods.
It's called an option periodFor that.
It costs us $100 for aseven-day option period.
So we had essentially aseven-day inspection period to
dispose the deal to find our endbuyer.
We also had to put down $1,000earnest money deposit.
(05:52):
This is very common because wewere doing deals off the MLS.
So you're essentially having todo business the way that the
realtors are used to doingbusiness Retail transactions
very different than how wenormally do it nowadays as
wholesalers.
So, option period earnest moneyproperty is now under contract.
I took the pictures directly offthe MLS.
(06:13):
I didn't go to the property.
I never went to the property,so the first ever deal we did
was completely virtual, eventhough it was in our backyard,
being in Arlington, texas, abouta 20-minute drive from us.
Now, simultaneous to us gettingthis property under contract,
we were also going to Las Vegasfor our boots on the ground.
(06:35):
One of the main things that wepaid $65,000 for this was going
to be the buyer summit.
We'd go to this big seminar atthe Luxor Casino and they were
going to teach us all the nittygritty details to wholesaling.
I'll be honest with you it dida great job of getting me super
motivated and pumped upEducation-wise.
(06:56):
I was still left with a bunchof questions, but we got this
property under contract.
The proof of concept was alreadystarting to become apparent.
So, when it comes todispositions, what are we
supposed to do.
Well, back then we didn't havethings like investor lift,
(07:17):
investor based deal speed.
Quite frankly, we didn't evenhave the prop streams and the
privies right.
So we were taught to dispodeals off of Craigslist the old
school way of doing things.
Now I did make a PDF of this,inserting the pictures and
making it look pretty as best asI possibly could.
(07:37):
My graphic design skillsweren't that great back in 2014.
But we put it on Craigslist andI'll never forget.
I'm inside the buyer summitthere at the Luxor Casino and I
get a call.
I answer it, I walk out intothe hallway and it's the buyer,
the actual end buyer, and hecalls me.
(07:59):
He says hey, mr Bates, I'm hereat 2300 Sunset Lane, I want to
take a look at the property.
And I said, okay, I think Ineed to call my agent and
schedule a showing.
I knew that that's what Ineeded to do.
We need permission to be ableto view this property because
(08:22):
it's listed on MLS, there'srealtors involved, there's
access criteria that we have togo through here to get our this
end buyer in the property.
And he says, no, it's okay.
I went right through that gateand there was a window unlocked
in the backyard.
I'm in the house right now.
(08:43):
I'll take it.
Oh man, I peed my pants.
I mean I was freaking out andfor those of you that are either
newer, I mean imagine this thisis your first ever prop, the
first ever property I've everhad on contract, like ever.
(09:03):
So I'm like did, did we justbreak the wall?
Did, did I just put this onCraigslist and my end buyer just
break into the house?
I mean, essentially he did.
Now this end buyer, he was oldschool and he was a straight
shooter and he's like hey, I'lltake it.
I'll take it at your askingprice $97,500, which was $1,500
(09:29):
above that molest asking price.
He said I'll take it.
Here's the deal, though you gotto use my title company.
Okay, sounds good.
So I didn't know how to fixthat because we had already
opened up title at the seller'srequested title company.
(09:50):
Now Brian did all the paperwork, got it fixed up, and the
reason why this is important inthe story is because this first
ever transaction that I did theend buyer wanted me to use Dana
Draper and at the time she wasat lawyer's title in Plano.
Was that lawyer's title inPlano?
(10:14):
Now I have used Dana on myTexas transactions ever since
August of 2014.
And the reason why is becauseshe was so amazing to work with
on this transaction.
I mean, I tell you, what I gottaught that we had to do on this
transaction is nothing that wehad to do.
See, we were told that weneeded to double close any deal,
(10:35):
any wholesale deal, where thewholesale fee exceeded $5,000.
And the reason why is becauseyou don't want your end buyer to
know you're making more than$5,000, because they can give
you pushback.
They could complain about howmuch money you're making.
So you want to cover that up.
Well, in reality, what theywere really trying to tell us
(10:59):
was is it has nothing to do withhow much money you're making,
but we want you to use ourtransactional funding company
and we'll only charge you 1.5%of the purchase price.
So do a double close, use ourtransactional funding company.
So I remember I started theprocess of getting transactional
(11:21):
funding on this deal andreaching out to Dana and saying
hey, dana, I'm RJ, I don't knowwhat I'm doing.
This is my first time with you,fully transparent.
I'm going to be usingtransactional funding.
She says why would you usetransactional funding?
We'll just do what's called apass-through double close.
(11:43):
What's that?
She explained it to me thefunds that your end buyer is
going to bring to purchase theproperty from you on the second
contract.
We'll use those funds to fundyour A to B contract and then
I'll just cut you a check forthe difference.
Your assignment fee Okay, notnecessarily assignment fee, I
(12:05):
guess that's poor choice oflanguage there.
Your wholesale fee, because itwas a double close, not an
assignment.
Okay.
Now, she did explain that therewould be some additional fees
associated with this because wewere doing a double close, but
it would save me the one and ahalf percent that I was told I
needed for transactional funding.
(12:28):
Okay, sounds good.
So, from there on, for the nexttwo weeks, and as you can see
here on Zillow, this was listedon August 8th 2014, and then it
was closed August 28th 2014.
So we got this deal done veryquickly, because I don't think
(12:50):
we placed the offer on the firstday it was listed.
So we probably got this dealdone in two to three weeks.
I remember every single daycalling Dana Draper and asking
Dana, I don't have $90,000 cash,I'm not coming in with a check.
(13:10):
I don't have $90,000 cash, I'mnot coming in with a check.
I don't want to be embarrassedwhen I show up and not have
money.
I don't want this deal to fallapart.
So you're telling me I can justshow up with no money and I'm
going to walk out of there witha check.
She's like well, you're notnecessarily going to walk out
with a check, we have to makesure the funds everybody signs
and then I can write you a checkor I could just wire you the
(13:33):
money.
Now I wanted that check.
I told her I need to see thecheck, I wanted to deposit that
check.
So, sure enough, a couple weekslater I drove all the way to
Plano and I'll never forget.
It was the exact same time wewere still running our
contracting business.
We were doing a roof in Denton,texas, which is about a 30, 40
(13:58):
minute drive.
Now I thought I was doing areal estate transaction, so I
had to get dressed up.
So I put on nice dress, pants,a dress shirt, got all dressed
up, drove to her office.
I was super nervous.
Cassie was actually out of town.
So I went all by myself, wentin, sat down, went into the
(14:20):
little conference room.
They brought me the documents.
I signed all the closingdocuments for the A to B
transaction.
I signed all the documents forthe B to C transaction.
She handed me copies, shook myhand and said I'll let you know
when I have the funds.
I'll let you know when yourcheck's ready.
So I left the office a littlebit nervous still.
(14:43):
But I remember driving to theroof job that we were doing in
Denton and the crew called andsaid hey, we're a few bundles of
shingles short.
There was a little shed orsomething in the back that we
need shingles for.
Can you swing by the supplyhouse and get those for us?
Now, funny enough, we made$7,500 on that wholesale fee on
(15:07):
this first ever deal.
But this roof the price wasvery similar in price.
It was like $7,000 for theentire contract of the job.
Now that included the cost ofmaterials and labor as well as
our profit.
And I remember driving all theway to the supply house, waiting
in line, getting the shinglesdumped in the truck, driving
(15:31):
them there, slinging theshingles over my shoulder with
my dress shirt, dropping themoff, standing out the hot sun,
looking and going.
Is this what I want to do withthe rest of my life?
I'm sitting over here.
What we've maybe made?
Two thousand000 profit on thatroof job.
(15:51):
But over here I went and foundthis property under contract,
did no work, didn't really evenhave to drive anywhere.
I made the decision to driveall the way to the title company
.
We made $7,500 profit.
I don't have any labor, I don'thave to pay any commissions,
there's no materials.
And it was about that time thatI'm thinking this.
(16:15):
When Dana lets me know yourcheck's ready to be picked up,
let me know if you want me tomail it to you, if you want to
come back by.
Oh, I went back.
I drove back over there, Ipicked that check up and I
remember just holding it in myhands and being like this is the
proof of concept that I neededright here.
This is what I knew I wanted todo this.
(16:37):
But now I knew this is what Iwas going to do.
From there on I never reallylooked back.
I kind of left Cassie to runthe contracting company and I
solely focused on getting betterat wholesaling, and that's
(16:58):
where my focus has been for thepast decade.
Now, if you're in a positionwhere you're trying to figure
out that proof of concept, I cantell you the videos that I've
shared on this channel on how toget leads, how to talk to
sellers, how to dispo deals, howto comp and underwrite far
exceeds what I was taught for$65,000.
(17:20):
And the reason why I continueto bring you guys videos day in
and day out is because I knowthe impact that that first deal
had on my life, that proof ofconcept making me decide this is
what I want to do.
Moving forward, I want you guysto experience the same thing,
(17:41):
which is why we consistentlybring you the value and show you
the education for free.
Now, sure, we monetize thechannel.
There are little ads pop upevery now and then.
Hell, one might have justpopped up and you had to skip it
after five seconds.
Yeah, we monetize throughaffiliate.
We have titanium universitylower ticket items.
Of course we want to make money, but ultimately you don't have
(18:07):
to pay any money to us to beeducated by us.
And we do that because of thepassion that we have to show how
wholesaling can change yourlife, like it has ours for the
past decade.
2300 Sunset Lane, arlington,texas.
(18:27):
I'll never forget that addressbecause that deal, that proof of
concept, working with Ryan StClair, working with that end
buyer, finding out about DanaDraper, having her help us
through so many transactions notonly this first one, but many
over the past decade to makesure they make it to the closing
table.
These things have allowed us tocreate our own reality and live
(18:53):
the life that we want to.
It's not about doing deals.
Doing deals is what we do as acompany, but the result of that
is what I want you guys toachieve.
So I hope you take someinspiration from 2300 Sunset
Lane.
I hope you have your own 2300Sunset Lane.
(19:15):
If you do drop a story in thecomments, let me know about that
first ever deal that you'vedone.
If you haven't done your firstever deal, talk to me about the
importance of what that willmean when you actually get it
done.
And if you need help onfiguring out how to get your
first ever deal, I have aplaylist on my channel.
(19:35):
It's called the Foundations forVirtual Wholesaling.
I believe if you were to gowatch each and every one of
those videos from start tofinish, you will receive more
value in those videos than youcan from 98% of the paid
mentorships out there.
I appreciate you guys.
(19:55):
I hope you have a story thatyou can share with me very soon
about getting your first dealdone.
We'll see you guys tomorrow.
let's talk about our first ever wholesale deal.
Now this is fresh off of usspending 65 000 on my mom's
american express so we couldlearn how to wholesale real
estate off of the MLS.
These are scary times.
Cassie and I had been anentrepreneur for about four
(00:33):
years.
We were running our remodelinggeneral contracting business.
It was somewhat successful Imean, it was paying the bills
but we weren't satisfied.
We weren't really fulfilled inwhat we were doing, but we
weren't satisfied.
We weren't really fulfilled inwhat we were doing and we always
knew that we wanted to dosomething in real estate
investing.
Now, that being said, we had noidea what wholesaling really
(00:54):
was, outside of the fact thatseveral of our investor clients
that had hired us to do therehab, the actual work on the
property, had explained to usthat, hey, we got this property
from a wholesaler.
So we were familiar with thenames of New Western
Acquisitions, net Worth Realty,the big box wholesalers, but we
(01:14):
didn't really know how they weregetting the deals, how they
were comping and underwritingthose deals, especially how they
were finding the end buyers,the actual investors.
So when we spent the money, the$65,000 to learn how to
wholesale, they explained to usthat it's as simple as going on
to Realtorcom, redfin, zillowand searching the MLS and
(01:39):
finding properties that arelisted that have key trigger
words like rehab, investor,special selling, as is
fixer-upper, things like that.
So my personality is as soon asI have an idea of the direction
that I need to head, I starttaking immediate action.
(02:01):
That's what I did in August of2014.
Now I'm going to share my screenhere real quick.
This is our first everwholesale transaction 2300
Sunset Lane in Arlington, texas.
Now, this picture was taken inDecember of 2023, but, to be
honest with you, the propertyreally didn't look much
different when we wholesaledthis back in 2014.
(02:25):
From the outside, it prettymuch looked just like this.
Now I'm showing you this GoogleStreet View to show you this
fence right here, that gate.
That gate ends up being a hugepart of the story.
Now I'm going to show you theZillow listing right here.
August 8th 2014,.
2300 Sunset Lane was listed forsale for $96,000.
(02:50):
Now, the reason why this isthis gate that I'm showing you
is because, when we saw this,the reason why I offered on this
property, is because it waspretty much fully gutted on the
inside.
It needed everything.
It was one of those sold, as isinvestor special type
(03:11):
properties.
All right, and what I was toldwas to reach out to an investor
friendly realtor in your area.
Now this deal.
I reached out to a gentleman bythe name of Brian St Clair and
I did several deals with Brianand he was a great guy, super
helpful at the beginning.
(03:32):
So what we did was we reachedout to Brian and we said, hey,
brian, we're going to go findthese deals off the MLS and we
want you to put in the offersfor us.
Now, I'll never forget when Iwas learning this and I was
sitting inside the hotel andlistening to the coaches explain
to us how to do this One of mybiggest questions was how do I
(03:54):
actually place an offer?
See, I never purchased a housebefore, so I had no clue how to
actually make an offer on aproperty.
We went through how to comp it,how to underwrite it, how to
use our calculators, a property.
We went through how to comp it,how to underwrite it, how to
use our calculators, all thesedifferent things, and I remember
raising my hand and saying whatdo you mean by place to offer?
I was thinking there must'vebeen some sort of portal or
(04:16):
something like that.
And then finally it becameapparent All you have to do is
just reach out to Brian and sayhey, brian, I want to place an
offer on this property.
So we did.
I reached out to Brian and Isaid I want to offer $90,000 on
this property at 2300 SunsetLane in Arlington, texas.
I did the free proof of fundsfrom besttransactionalfundingcom
(04:42):
the fake proof of fundsessentially.
I will say as much as I don'trecommend you using those.
They are valid proof of funds,they have been investigated and
it does keep track of whoactually downloads those PDFs,
requests those PDFs and for howmuch.
So that proof of funds wasactually legitimate, even though
(05:05):
I've never actually gotten aloan from Best Transactional
Funding so early on, I just didwhat the teacher stopped me to
do Download this proof of fundsfor $90,000, submit an offer
through Brian St Clair, thelocal realtor, who's impressive
or friendly and, sure enough,2300 Sunset Lane offer is
(05:28):
accepted.
So here in the state of Texas wehave to pay for our inspection
periods.
It's called an option periodFor that.
It costs us $100 for aseven-day option period.
So we had essentially aseven-day inspection period to
dispose the deal to find our endbuyer.
We also had to put down $1,000earnest money deposit.
(05:52):
This is very common because wewere doing deals off the MLS.
So you're essentially having todo business the way that the
realtors are used to doingbusiness Retail transactions
very different than how wenormally do it nowadays as
wholesalers.
So, option period earnest moneyproperty is now under contract.
I took the pictures directly offthe MLS.
(06:13):
I didn't go to the property.
I never went to the property,so the first ever deal we did
was completely virtual, eventhough it was in our backyard,
being in Arlington, texas, abouta 20-minute drive from us.
Now, simultaneous to us gettingthis property under contract,
we were also going to Las Vegasfor our boots on the ground.
(06:35):
One of the main things that wepaid $65,000 for this was going
to be the buyer summit.
We'd go to this big seminar atthe Luxor Casino and they were
going to teach us all the nittygritty details to wholesaling.
I'll be honest with you it dida great job of getting me super
motivated and pumped upEducation-wise.
(06:56):
I was still left with a bunchof questions, but we got this
property under contract.
The proof of concept was alreadystarting to become apparent.
So, when it comes todispositions, what are we
supposed to do.
Well, back then we didn't havethings like investor lift,
(07:17):
investor based deal speed.
Quite frankly, we didn't evenhave the prop streams and the
privies right.
So we were taught to dispodeals off of Craigslist the old
school way of doing things.
Now I did make a PDF of this,inserting the pictures and
making it look pretty as best asI possibly could.
(07:37):
My graphic design skillsweren't that great back in 2014.
But we put it on Craigslist andI'll never forget.
I'm inside the buyer summitthere at the Luxor Casino and I
get a call.
I answer it, I walk out intothe hallway and it's the buyer,
the actual end buyer, and hecalls me.
(07:59):
He says hey, mr Bates, I'm hereat 2300 Sunset Lane, I want to
take a look at the property.
And I said, okay, I think Ineed to call my agent and
schedule a showing.
I knew that that's what Ineeded to do.
We need permission to be ableto view this property because
(08:22):
it's listed on MLS, there'srealtors involved, there's
access criteria that we have togo through here to get our this
end buyer in the property.
And he says, no, it's okay.
I went right through that gateand there was a window unlocked
in the backyard.
I'm in the house right now.
(08:43):
I'll take it.
Oh man, I peed my pants.
I mean I was freaking out andfor those of you that are either
newer, I mean imagine this thisis your first ever prop, the
first ever property I've everhad on contract, like ever.
(09:03):
So I'm like did, did we justbreak the wall?
Did, did I just put this onCraigslist and my end buyer just
break into the house?
I mean, essentially he did.
Now this end buyer, he was oldschool and he was a straight
shooter and he's like hey, I'lltake it.
I'll take it at your askingprice $97,500, which was $1,500
(09:29):
above that molest asking price.
He said I'll take it.
Here's the deal, though you gotto use my title company.
Okay, sounds good.
So I didn't know how to fixthat because we had already
opened up title at the seller'srequested title company.
(09:50):
Now Brian did all the paperwork, got it fixed up, and the
reason why this is important inthe story is because this first
ever transaction that I did theend buyer wanted me to use Dana
Draper and at the time she wasat lawyer's title in Plano.
Was that lawyer's title inPlano?
(10:14):
Now I have used Dana on myTexas transactions ever since
August of 2014.
And the reason why is becauseshe was so amazing to work with
on this transaction.
I mean, I tell you, what I gottaught that we had to do on this
transaction is nothing that wehad to do.
See, we were told that weneeded to double close any deal,
(10:35):
any wholesale deal, where thewholesale fee exceeded $5,000.
And the reason why is becauseyou don't want your end buyer to
know you're making more than$5,000, because they can give
you pushback.
They could complain about howmuch money you're making.
So you want to cover that up.
Well, in reality, what theywere really trying to tell us
(10:59):
was is it has nothing to do withhow much money you're making,
but we want you to use ourtransactional funding company
and we'll only charge you 1.5%of the purchase price.
So do a double close, use ourtransactional funding company.
So I remember I started theprocess of getting transactional
(11:21):
funding on this deal andreaching out to Dana and saying
hey, dana, I'm RJ, I don't knowwhat I'm doing.
This is my first time with you,fully transparent.
I'm going to be usingtransactional funding.
She says why would you usetransactional funding?
We'll just do what's called apass-through double close.
(11:43):
What's that?
She explained it to me thefunds that your end buyer is
going to bring to purchase theproperty from you on the second
contract.
We'll use those funds to fundyour A to B contract and then
I'll just cut you a check forthe difference.
Your assignment fee Okay, notnecessarily assignment fee, I
(12:05):
guess that's poor choice oflanguage there.
Your wholesale fee, because itwas a double close, not an
assignment.
Okay.
Now, she did explain that therewould be some additional fees
associated with this because wewere doing a double close, but
it would save me the one and ahalf percent that I was told I
needed for transactional funding.
(12:28):
Okay, sounds good.
So, from there on, for the nexttwo weeks, and as you can see
here on Zillow, this was listedon August 8th 2014, and then it
was closed August 28th 2014.
So we got this deal done veryquickly, because I don't think
(12:50):
we placed the offer on the firstday it was listed.
So we probably got this dealdone in two to three weeks.
I remember every single daycalling Dana Draper and asking
Dana, I don't have $90,000 cash,I'm not coming in with a check.
(13:10):
I don't have $90,000 cash, I'mnot coming in with a check.
I don't want to be embarrassedwhen I show up and not have
money.
I don't want this deal to fallapart.
So you're telling me I can justshow up with no money and I'm
going to walk out of there witha check.
She's like well, you're notnecessarily going to walk out
with a check, we have to makesure the funds everybody signs
and then I can write you a checkor I could just wire you the
(13:33):
money.
Now I wanted that check.
I told her I need to see thecheck, I wanted to deposit that
check.
So, sure enough, a couple weekslater I drove all the way to
Plano and I'll never forget.
It was the exact same time wewere still running our
contracting business.
We were doing a roof in Denton,texas, which is about a 30, 40
(13:58):
minute drive.
Now I thought I was doing areal estate transaction, so I
had to get dressed up.
So I put on nice dress, pants,a dress shirt, got all dressed
up, drove to her office.
I was super nervous.
Cassie was actually out of town.
So I went all by myself, wentin, sat down, went into the
(14:20):
little conference room.
They brought me the documents.
I signed all the closingdocuments for the A to B
transaction.
I signed all the documents forthe B to C transaction.
She handed me copies, shook myhand and said I'll let you know
when I have the funds.
I'll let you know when yourcheck's ready.
So I left the office a littlebit nervous still.
(14:43):
But I remember driving to theroof job that we were doing in
Denton and the crew called andsaid hey, we're a few bundles of
shingles short.
There was a little shed orsomething in the back that we
need shingles for.
Can you swing by the supplyhouse and get those for us?
Now, funny enough, we made$7,500 on that wholesale fee on
(15:07):
this first ever deal.
But this roof the price wasvery similar in price.
It was like $7,000 for theentire contract of the job.
Now that included the cost ofmaterials and labor as well as
our profit.
And I remember driving all theway to the supply house, waiting
in line, getting the shinglesdumped in the truck, driving
(15:31):
them there, slinging theshingles over my shoulder with
my dress shirt, dropping themoff, standing out the hot sun,
looking and going.
Is this what I want to do withthe rest of my life?
I'm sitting over here.
What we've maybe made?
Two thousand000 profit on thatroof job.
(15:51):
But over here I went and foundthis property under contract,
did no work, didn't really evenhave to drive anywhere.
I made the decision to driveall the way to the title company
.
We made $7,500 profit.
I don't have any labor, I don'thave to pay any commissions,
there's no materials.
And it was about that time thatI'm thinking this.
(16:15):
When Dana lets me know yourcheck's ready to be picked up,
let me know if you want me tomail it to you, if you want to
come back by.
Oh, I went back.
I drove back over there, Ipicked that check up and I
remember just holding it in myhands and being like this is the
proof of concept that I neededright here.
This is what I knew I wanted todo this.
(16:37):
But now I knew this is what Iwas going to do.
From there on I never reallylooked back.
I kind of left Cassie to runthe contracting company and I
solely focused on getting betterat wholesaling, and that's
(16:58):
where my focus has been for thepast decade.
Now, if you're in a positionwhere you're trying to figure
out that proof of concept, I cantell you the videos that I've
shared on this channel on how toget leads, how to talk to
sellers, how to dispo deals, howto comp and underwrite far
exceeds what I was taught for$65,000.
(17:20):
And the reason why I continueto bring you guys videos day in
and day out is because I knowthe impact that that first deal
had on my life, that proof ofconcept making me decide this is
what I want to do.
Moving forward, I want you guysto experience the same thing,
(17:41):
which is why we consistentlybring you the value and show you
the education for free.
Now, sure, we monetize thechannel.
There are little ads pop upevery now and then.
Hell, one might have justpopped up and you had to skip it
after five seconds.
Yeah, we monetize throughaffiliate.
We have titanium universitylower ticket items.
Of course we want to make money, but ultimately you don't have
(18:07):
to pay any money to us to beeducated by us.
And we do that because of thepassion that we have to show how
wholesaling can change yourlife, like it has ours for the
past decade.
2300 Sunset Lane, arlington,texas.
(18:27):
I'll never forget that addressbecause that deal, that proof of
concept, working with Ryan StClair, working with that end
buyer, finding out about DanaDraper, having her help us
through so many transactions notonly this first one, but many
over the past decade to makesure they make it to the closing
table.
These things have allowed us tocreate our own reality and live
(18:53):
the life that we want to.
It's not about doing deals.
Doing deals is what we do as acompany, but the result of that
is what I want you guys toachieve.
So I hope you take someinspiration from 2300 Sunset
Lane.
I hope you have your own 2300Sunset Lane.
(19:15):
If you do drop a story in thecomments, let me know about that
first ever deal that you'vedone.
If you haven't done your firstever deal, talk to me about the
importance of what that willmean when you actually get it
done.
And if you need help onfiguring out how to get your
first ever deal, I have aplaylist on my channel.
(19:35):
It's called the Foundations forVirtual Wholesaling.
I believe if you were to gowatch each and every one of
those videos from start tofinish, you will receive more
value in those videos than youcan from 98% of the paid
mentorships out there.
I appreciate you guys.
(19:55):
I hope you have a story thatyou can share with me very soon
about getting your first dealdone.
We'll see you guys tomorrow.
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