Why You Should Always Take Your Shot!

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If you’re new to my channel my name is RJ Bates III. Myself and my partner Cassi DeHaas are the founders of Titanium Investments.

We are nationwide virtual wholesalers and on this channel we share EVERYTHING that we do inside our business. So if you’re looking to close more deals - at higher assignments - anywhere in the country… You’re in the right place.

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Over 10 years in the real estate investing business
Closed deals in all 50 states
​Owned rentals in 12 states
​Flipped houses in 11 states
​Closed on over 2,000 properties
​125 contracts in 50 days (all live on YouTube)
​Back to back Closers Olympics Champion
Trained thousands of wholesalers to close more deals

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Episode Transcript

SPEAKER_00 (00:13):
Shooters are gonna shoot their shot.
Now, I'm not talking about likeshooting a gun.
I'm talking about likebasketball shooters, right?
Or like my son, hockey players.
If you never shoot your shot,you're never gonna make the
goal.
You're never gonna make thebasket.
It's the same thing inwholesaling.

(00:33):
In the past five years of mecoaching wholesalers across the
United States, really across theworld, one of the things I've
noticed is newer wholesalers,the majority of them, really
struggle with being confidentand decisive on what they should
lock up and what they shouldn't.
The fear is I'm locking it uptoo high.

(00:55):
They don't want to be like whatthey see on social media when
people make fun of wholesalersfor locking deals up for too
high.
And there's a valid concernthere, right?
We don't want a bunch ofterminations.
We don't want to misleadsellers.
But at some point in time, youhave to build a bridge to
yourself as to why this would bea deal if you were going to be

(01:18):
the end buyer.
Now we have tools out there likeour profit calculator that help
us determine if it's a deal ornot, right?
It breaks down what the afterrepair value is: the holding
costs, the closing costs, theamount of repairs needed, and
the profit for the end buyer, aswell as the assignment fee.
And it shows you if you were tooffer this, that's the bridge.

(01:42):
Now the concern is well, what ifthe rehab is more, or what if my
after repair value is notcorrect?
I get it.
You don't have those skill setsbuilt up yet, and so you're
concerned that maybe you'rewrong.
Well, here's the the key no oneis perfect when it comes to
comping and underwriting.

(02:03):
I to this day still makemistakes comping and
underwriting.
And despite what many wouldbelieve, Cassie still makes
mistakes when it comes tocomping and underwriting because
you're making educatedassumptions.
It's not a proven science whereyou know exactly how much the
property would sell for on theback end, and you're never going

(02:26):
to know as a virtual wholesalerhow much rehab the property
actually needs until you do awalkthrough and you get feedback
from your end buyers.
So this fear that you havereally needs to be eliminated
because it's keeping you frompotentially making money.

(02:46):
Now I've shared this storybefore, but out of the 125
contracts that I got during the2023 50-50-50, the one that I
would have anticipated was theworst deal that I locked up was
a property in Dearborn Heights,Michigan.
It's a little suburb of Detroit.

(03:07):
And the reason why I locked itup is because we were getting
the additional lot next to thehouse.
But I felt like the numbers werereally tight without that
additional lot.
It really wasn't a deal for aflipper based off of just what
the house and the rehab neededin the after repair value.

(03:29):
But with that additional lot,would that bring us extra value
to the deal?
Now I didn't know because therewere no comps inside of that
neighborhood for vacant landbecause none have sold.
So we didn't have really an ideaof what the value was on this

(03:50):
deal.
So shoot or shoot.
I lot that deal up.
And now going into this, Ibelieved this was the worst deal
out of 125 that I locked up.
And this includes, you know,$2,000 vacant lots in Nebraska,
a$5,000 horrible shit box inPennsylvania.

(04:13):
But this one was the one that Iwas like, I really don't know if
this is going to be able to bedispo'd and make it to the
closing table.
But Garrett Littleton, this ishis first ever deal that he was
going to Dispo.
And boy, was he in for a treat.
The moment that we posted thisdeal on investor lift, we

(04:35):
immediately received multiplefull price buy it now offers.
And he had to navigate thatsituation, which he was really
not equipped for.
Now, the reason why it was sucha great deal was because of that
additional vacant lot.
But if you had asked me before,I probably thought mentally I

(04:58):
should have walked away fromthat deal.
I shouldn't have signed acontract with this seller.
And I was concerned.
I didn't want to let that sellerdown.
I didn't want to have torenegotiate because I knew what
the seller's needs were.
And it really wasn't an optionto renegotiate that deal.
But because I was not afraid offailure, I wasn't afraid of

(05:20):
letting the seller know thetruth.
I locked that deal up.
And because of it, we were ableto move it, and we were able to
move it quickly and realize howgreat of a suburb Dearborn
Heights is in Detroit, Michigan.
And we were able to get Garretthis first ever deal.
Now, Garrett has done deals in30 plus states and dispo'd all

(05:44):
across the United States, and heunderstands how great of a deal
that was.
But to the newer wholesaler,they would have looked at that
and said, maybe I need to submitthis to the Titanium University
comp portal.
Maybe I need to talk to one ofthe dispo houses before locking
this deal down.

(06:05):
And what happens is time killsall deals.
See, shooters just shoot.
I just right then and there sentthe contract, got it signed, did
the recon, and then found out wehad a great deal.
Now, does it work the other waywhere we shoot our shot and we
find out that it's not?
Absolutely.
And that's part of our process.

(06:28):
Every single time when we go toclose a deal, we do what's
called reverse report.
What that means is we'reexplaining the process to the
seller.
All right, Mr.
and Mrs.
Seller, let me explain how thisis going to work.
If we can come to an agreementon price today, I'm going to
send over my simple two-pageagreement to you.

(06:49):
And once you've signed that,we're going to come out and
we're going to evaluate thecondition of the property and
make sure it's everything thatyou told us it is today.
If it is, we'll be good to closeat that price and on your
timeline.
But if it's not, we are going tohave to revisit price and
timeline.
Does that make sense to you?

(07:10):
Now, this gives you theopportunity to go back and after
you do the research and you getthe offers and the feedback from
your in buyers, you can go backwith transparency and the
knowledge that you've nowacquired from your in buyers
about where the deal actuallyneeds to be.

(07:30):
So the next time you're talkingto a seller and you're really
back and forth on whether or notyou should lock the deal up or
not, ask yourself a couple ofquestions.
One, when I look at my profitcalculator, do I believe this is
a good enough deal that if Iwere an in buyer, I would take
it down?
Does it make sense to me?

(07:52):
Two, what would RJ do?
Would RJ set a contract or wouldRJ go ask somebody else for
their opinion?
And then third, did you set upthe precedence that if things
aren't exactly the way you thinkthey are today on the phone, can
you reevaluate the price withthe seller?

(08:14):
Set those expectations, don'tabuse that, but do it with
honesty and transparency.
And that is how you'll be theshooter that gets more signed
contracts.
So for those of you that arecurrently struggling in this
situation, I hope this videomakes a difference.

(08:34):
Let me know if it did in thecomments.
Show me some love, like today'svideo, and we'll see you guys
tomorrow.