Posted on: November 06, 2017

We believe that wanting to earn a lot of money is one of the most noble things that a person can do – because the only way to earn a lot of money is to provide a lot of value and service to your marketplace and community. That’s it!

Today we talk to Spencer Shadrach about how, as Wholesalers, we can provide an exceptional amount of value and service to the people we serve (and earn an exceptional amount of money).

 

A Deal

 

  • Spencer found this deal through an online lead. They were an out-of-town, absentee seller who inherited the property.
  • The property was worth about $130k after renovations, and the seller only asked for $60k.
  • He went out to the property, and the seller was tired of maintaining it.
  • Spencer could have signed the deal right there, but he started asking more questions about the house: what did he think it would be worth fixed up, and how much would it cost?
  • Spencer was very candid about being an investor, and made no promise about having the highest offer – but he would have a fair and very quick offer.
  • The owner said he thought it’d cost $10-15k to fix the house up, and that it’d only be worth about $80k after repairs.
  • Spencer pointed out that there’s not a lot of room there to make a profit, and the property owner agreed. Spencer offered $40k, and the property owner came back with $45k; they split the difference and decided to put it under contract for on 42.5k. They drew up the paperwork and signed it on the spot.
  • Spencer was willing to spend $60k on the property, but because he was patient, asked questions, and listened, he was able to make a better deal.
  • Spencer ended up selling the property for $77k, so he earned a $34,500 assignment fee.

 

RESOURCES:

Thou Shall Prosper: Ten Commandments for Making Money by Rabbi Daniel Lapin

 

If you are Ready to Explode Your Wholesaling Business, Click here to Book a Free Strategy Session with me right now!

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Episode Transcription

Brent Daniels: We are back. This is Brent Daniels, and I want to start this podcast off and talk about a book that was recommended by my mentor, a lot of your guys’ mentor, Tom Krol. And it’s a book called, Thou Shall Prosper. It’s a phenomenal book. I highly suggest everybody get it on, not only Audible, but also, in printed form. Get it in printed. I suggest printed because it lets you hold it, it lets you highlight it, you can grab it, you can look at it, you can reference it. I think it’s so important to have both those things, something that you can listen to in the car as you’re driving around, as you’re driving for dollars, as you’re out there driving on appointments, going on appointments. It’ll really put you in a really great, really positive mindset. Okay?
Now, there’s a couple things in this book that I want to point out before we get into an incredible interview. The first thing is, a very simple equation. Okay? This has to do with making a lot of money. And by the way, when somebody tells me that they want to make a ridiculous amount of money, I get so excited. And the reason I get so excited is because I think it’s absolutely the most noble thing that you can do. And let me explain that, because there might be a lot of questioning faces or questioning thoughts. The reason I think it’s the most noble is, because, to actually earn a lot of money… I’m not talking about the lottery. I’m not talking about inheritance. I’m talking about earned income. The only way to make a lot of money, a lot of income is to provide a lot of value and service to your marketplace and your community.
That’s it. That is it. That is the only way that you can do that. Okay? So if there’s an equation that says value and service equals earned income or money, write it down. Think about it. So, if you want to make $10,000. Great. Go provide $10,000 worth of service or value. If you want to make a hundred thousand, go provide a hundred thousand worth of value and service to the community, to your marketplace. If you want to make $1 million, $2 million, $3 million, figure out a way that you can provide that equal amount of value and service in the community. That’s the only way you can do it. It doesn’t just happen. And in our business, in this business, in the wholesaling business, in real estate investing, in general, here’s how we provide value and service: We provide value and service by giving people the opportunity to reach their goals.
Okay, we’re the ones that are uncovering the greatest deals. We’re the ones going out there and meeting with the homeowners. We are the ones that are talking to people every single day. That’s the only way that we can provide opportunity and service, in our marketplace, is by continuously talking to the right people and a lot of people all the time. We have to focus our business on providing that opportunity for somebody else to reach their goals. That is the only way that we can make massive amounts of money in this business. And, I think, it’s just incredibly, incredibly, incredibly noble to wake up every single day and not think about, “I need to make $10,000 today.” I mean, “I need make 20,000, 30.” You need to make a thousand. Whatever it is. It’s fine if you think that, but really the most important question that you need to put into your mind is, “How do I provide that amount of service, so that I can get paid that amount of money?” Service and value equals earned income.
It’s simple. It’s incredible. So, that’s just the start of this, and, I think that it really lets us roll into this interview that we’re going to start here, because I have an incredible friend and fellow RINO that’s out of Memphis, Tennessee, and he is providing so much value and services in his community, and, because of that, he is making a ridiculous amount of money. He is doing fantastic. And I’d like to introduce, right now, Spencer Shadrach. Say, “Hello.”

Spencer: Hello. Hello.

Brent Daniels: All right, Spencer. So, after that big, long introduction, and, kind of, just, warming everybody up, getting their mind going, getting everybody excited to hear, kind of what you’ve got going on in your market, let’s briefly touch base, when you started. When did you start?

Spencer: Real estate, for me, started when I was young. My parents would buy properties, and they would renovate them, and we would live in the property. At a young age, I was in charge of demo and hauling trash and doing all those grungy things, not necessarily learning how to do anything, but just getting used to that process of taking an old tired house and fixing it up. We did that, probably, three or four times growing up, since I was, I don’t know, eight years old. And so, for me, I’ve always kind of had the real estate bug. My parents have owned property kind of next door or down the road. They’ve owned a couple of rental properties and they kind of have the same mindset that I do in terms of looking at a piece of real estate and trying to see if you can bring life back into it.
That’s kind of how I got started with real estate. Fast forward about 20 years. I’m 31. About four, four and a half years ago, didn’t really know what I wanted to do, didn’t have an idea of where I wanted to be in life. I knew that I wanted to own real estate, at some point. So, I thought, “Why not? Why not try my hand at that?” And so, I started working for a property management company, and kind of learned my way up the ladder. So, now, I’m in the real estate business full time.

Brent Daniels: Awesome. So, you started out as free labor for your parents who were renovating properties, right?

Spencer: Yes, child labor.

Brent Daniels: Child labor. That’s great. Excellent. So, since then, when did you start really getting into the wholesaling or the fix and flip? What’s the mix in your business, because I know that you do both? You do wholesaling and you do the fix and flip. So, what is the mixture? What does that look like?

Spencer: So, do most people that are listening, are they aware of what wholesaling is or is it a mix of people or what’s the dynamic?

Brent Daniels: Yeah, absolutely. It’s people that are new to wholesaling. It is people that are experienced with wholesaling. This is everybody out there that has an interest in wholesaling property or flipping property or anything. This is on the Wholesaling Inc. podcast, brother.

Spencer: Gotcha. So, when I first got started, the guys that I worked for, they owned, I think, five or 600 properties. That’s a lot of transactions to buy all those properties and to manage all those properties. They had a lot of experience between the two of them. Kind of young guys, almost 40 years old. So, they were kind of in the next stage of life, just one step beyond me. I didn’t really think there was anything too crazy. They weren’t geniuses. They didn’t have some magic genie telling them what to do and they owned over 500 houses together. And so, I thought, “Well, if they can own 500, I can try to own 10 or five or whatever.”

Brent Daniels: Sure. Sure.

Spencer: Basically, I got paid to be a property manager and I used it to kind of force my way into letting them show me how the business works. And so, I got paid to be educated, in a sense. That was my first year of real estate. Through that process, I learned that you got to have money to buy houses, and so, I needed to find a quick way to do that. There’s some investors that we managed property for that were into wholesaling, and so, I learned about wholesaling through an investor from San Francisco. He kind of just said, “Hey, read these books, watch these videos.” And I really got hooked. He kind of showed me one corner of the table and I found the other three. And, at that point, I got to where I could do my own deals and then I grew from there. So, that’s kind of how I got started is, I learned from others, and then, self-education and some coaching. And that’s kind of how I got started.

Brent Daniels: Awesome. So, are you just in Memphis? What’s your market?

Spencer: It’s kind of the tristate Memphis area. So, Memphis is kind of touching three states, Arkansas, Tennessee and Mississippi. And so, I’ve done deals in Mississippi. I’ve done deals in Tennessee. Nothing in Arkansas, yet, but kind of within a 25-mile radius of Memphis is kind of where I’m at.

Brent Daniels: Gotcha. And the mix between flipping and wholesaling?

Spencer: So, really it started off wholesaling and I wanted to own some rentals. And so, right now, my goal, I wanted to own 10 rentals to have that income coming in free and clear. And so, that’s still a goal of mine to have free and clear passive income coming in. So, in the beginning, I just wholesaled everything. I didn’t buy anything. I just collected a fee at closing, 5,000, 10,000, whatever that fee was. I quickly realized that there were a lot of deals that I could have done something with it to either keep it and hold it or make more money by purchasing it and reselling it or purchasing it and fixing it, and then, selling it. I just kind of look at the opportunity. How can I make the most money off this opportunity, and is it going to take away from me making money in other places? And so, that’s kind of how I look at every single deal.

Brent Daniels: Got it. So, you’ve got options. Every time you’re looking at a deal, you’re figuring out which one is going to be the most appropriate or the most profitable in that situation. Right?

Spencer: Yeah. So, first option is, to try to wholesale it and try to make the quick fee, because, my thought is, “If you make 15, 20, $30,000 without doing any work, then I’ll just go ahead and collect that fee.” But, if I can double that, and it’ll only take me three months, well, maybe that’s a scenario where, “Let’s hold off on wholesaling it and let’s flip it or rehab it.” The only thing about Memphis, is that the price per home is about $120,000 average. That’s quite different from a Dallas or San Francisco or California or maybe even Phoenix. And so, your margin for your wholesale fee is, for most people, it’s about five to $7,000-

Brent Daniels: Sure.

Spencer: … in Memphis. For me, it’s probably about $18,000.

Brent Daniels: How do you get so much more than the average?

Spencer: Well, part of it is, knowing who’s going to buy that property on the back end-

Brent Daniels: Mm-hmm (affirmative).

Spencer: … who you sell that to. And so, most people will say, “Well, I’m just going to wholesale it and make my quick five or my quick 10, which, I mean, when I first got started, Brent, a quick five or 10, I mean, I would’ve been on cloud nine.

Brent Daniels: Oh yeah, yeah, we going to Sizzler, then. Yeah, that-

Spencer: Yeah. Now, we’re talking.

Brent Daniels: That’s, like, oh, man, 5,000 just out of thin air was, like, “Oh my gosh, I am the smartest, richest man alive.” It is so incredible. And now, it’s, like, “Well, okay.” Five grand’s good, five grand. It’s not 10, but, okay. So, you’re at 18 now. This might be a new concept to some of the listeners, but kind of a reverse wholesaling, which, a reverse wholesaling, just to let you guys know, is, you talk to your buyers, you find exactly what they’re looking for and then you go out and find the deal, as opposed to, finding the deal, and then, matching it up with a cash buyer to see if they want to buy it. So, is that kind of your technique? Are you real involved with knowing what you’re certain cash buyers are looking for?

Spencer: Yes. So, every market is different, but, in my given experience, people say you need to have this huge buyer’s list, you need to have a huge, massive amount of people that are fighting over the property. And that may be true, but, in the Memphis market, I think I’ve sold the majority of my deals to less than 10 people.

Brent Daniels: Sure.

Spencer: And so, every time it’s the same people. I try to get a little more money out of the deal every single time, but some buyers they close quick, they’re not going to have any issue. When they say, “Yes,” they’re good to go. There’s some simplicity to that, knowing that you have 20,000, 22,000, 27,000 coming in and your buyer they’re not backing out, they’re not going to screw you over versus someone new that you’re trying to make a couple extra thousand dollars off of. I have buyers that buy from me every single time, sometimes even two or three a month that they’re buying from me, and I know they’re going to close.
I do have a huge list of people, and, sometimes, I do get a higher sales price just because the opportunity calls for it, but, in regards to reverse wholesaling, I do know exactly what my buyers are looking for and what they’re reselling these properties for. So, when I see a property, I’m not necessarily going and searching out a specific type of property, but, when I see it, I know exactly what number I need to be at to make the most money. That’s kind of how I do it.

Brent Daniels: Love it. Love it. And 18,000. So, these guys get the assignment fee. Are they fighting you on it? Are they beating you up or they sign it, get it back to you and it’s closing in two weeks, type of deal?

Spencer: Yeah. Sometimes, it’s closing in less than two weeks, depending upon how quick you run the title work. But, what I’ve always found is that, if someone else is worried about how much you’re making, then, either they’re not making enough money in their own business or their numbers are not right. So, in the beginning, people thought that I was making too much money on some deals, but I kind of explained to them, “Hey, I’ve got my profit built in here. This is all I do every day. I’m looking for properties. I’m spending money to find properties. So there’s a hefty fee built in here. If you’re not okay with that, I can buy it and resell it or buy it and sell it to somebody else. It doesn’t matter.” In a market that we’re in right now, where it’s a seller’s market, deals are running thin, more thin and they probably used to be, I haven’t had any trouble with the assignment fee lately.

Brent Daniels: I love that. I love that you put yourself in the position of the seller. Right? In a seller’s market and you’re the seller. So, you’re driving how much you’re making on it. They agree to it. It’s really interesting, because it’s very, very common for coaches and mentors and just people doing a lot of business around the country to say, “You know what, don’t stick with just a few guys. Make sure you’re blasting it out to everybody and make sure that they bid it up and you get as much for it as possible.” And there is a lot of value there.
But what you’re saying is, “You know what, I’m getting paid more than the average. I’m going to these guys that I know we’re going to close. They’re going to bring their funds in on time. It’s going to be less headaches. I’m going to have less really angry phone calls from the seller, because it’s not closing on time or the buyer backed out at the last minute.” Or anything that can happen. Right? Not saying that that happens every time, but you’re going with guys that you know that that’s not going to happen and that gives you peace of mind. And it also gives you over three times the average of what your market is selling for. So, what that tells me is you’re providing three times more service and value than your competition is, or, at least, your wholesale competition is, because you’re, obviously, making that much more. So, I think that’s incredible.

Spencer: Yeah. And there may be something to say about that. Every market is different and, in Memphis, there’s a lot of people that they just want to make two or $3,000 on every single deal or they may want to make $5,000 per deal. I think I saw you post something the other day that you spend what, on average, it costs you $4,000 to get a deal or $2,000 to get a deal? So, for me to spend $2,000 to get a deal and make 6,000, well, that only puts 4,000 in my pocket. I could do better somewhere else.
In my market, people kind of tease me because they call me a low ball king. I make low offers to people, because I just want to make more money on each deal. And so, if that doesn’t work with the seller, or it doesn’t work with whoever I’m working with, then, if that’s not a win-win, then I don’t want to do the deal. I’m willing to make it work, but I’d rather make more money on bigger deals. That’s kind of how I view it.

Brent Daniels: Sure. So, you’re cherry picking the biggest deals that you can out there and you’re just going with confidence and courage, giving the price to the homeowner and saying, “his is the price that I can buy it at because the value and service that I’m going to provide for my end buyer or my end, whatever, whether it be yourself is worth $18,000. So, this is where the price is that I need to purchase this at. Does that work for you?” “Yes, it does.” “Okay, great. Let’s do a deal.” Right? So, incredible.

Spencer: Yes and no. Part of it is knowing who you’re talking to and knowing how to negotiate that. I’ve read a lot of material over the past year on learning how to negotiate, learning how to talk to women, learning how to talk to men, learning personalities. And so, asking questions. I mean, there was one specific deal that I can tell you about. It was an online lead, out of town seller, absentee owner, inherited. So, there’s quite a few motivations there. Out of town owner, absentee, vacant property, inherited. That’s four, four whammies right there.
So, I called them, I said, “Hey.” We were just talking. The guy’s wife, it was her mom’s house and it was vacant and nice neighborhood, kind of a first time home buyer. The house is probably worth 130 fixed up. Over the phone, he said he wanted $60,000. I mean, that’s half off of 130. So, even if it’s falling over, it’s probably still a decent deal. Right?

Brent Daniels: Sure.

Spencer: So, ran out there and we started talking and he was responsible for cutting the grass and paying the utilities and he was an old guy. He was tired. He lived out of town. He had to come up and check on the house every week. So, he’d been doing that for several months. And so, he was just tired. He and I started talking and asking questions and we could’ve just done the deal right there. Agreed on $60,000 and done the deal and I could have made 10 or 15 and been through with it and went about my day.
But I took the time to ask him, “Hey, what are your thoughts about the house? Tell me what you think needs to be fixed? Tell me about what you think it’s worth?” And started asking him all these questions and come to find out… He knows that I’m an investor and I’m trying to make a profit off the property and I told him that on the front end, “Hey, I’m an investor. I’m not going to offer you the best price. I’m going offer you a fair price, a quick price. But I’m an investor, so I’m here to make money.” And so, I said, “This house needs 10 or $15,000… What do you think it’s worth fixed up?” He said, “Well, it’s probably worth about $80,000 fixed up,” and he wanted 60.

Brent Daniels: Yeah.

Spencer: And so, I just used his own logic. I said, “Hey, it needs at least 15,000 in work. You want 60, and you say it’s worth 80. There’s not hardly any room there. Would you agree?” And he said, “Yeah, I know it’s a little tight. Just make me an offer and we’ll talk about it.”

Brent Daniels: Love it.

Spencer: So, I said, “Okay. How about $40,000,” and he said, “Can you do 45?” I go, “Well, are you committing to that price? Are you the decision maker or is it your wife or what are we talking about here?” And I said, “Well, how about we split it down the middle, 42 and a half?” And so, we ended up drawing up the paperwork, right there, agreeing to 42 and a half and got the deal done. And I would have agreed to $60,000 if I hadn’t been patient and listen to what the seller was telling me. So, I ended up wholesaling that deal, I think, for 77 so I made 30. I signed it for 34 and a half.

Brent Daniels: Love it.

Spencer: That was a couple months ago. There’s a lot of factors there, though. I mean, I knew the neighborhood really well. I went over and met and set the appointment really quick, negotiated well, promised that I was going to close quick, did everything I needed to do. All the stars kind of lined up to make that big fee. Yeah, again, that’s part of increasing your fee. If I would have been okay with $60,000, I would have made a $17,000 assignment fee versus doubling it by just spending time and talking to the seller.

Brent Daniels: Sure. Just asking the question, and, I think, everybody listening out there, I love this technique and the technique is asking the seller, “Well, what do you think it’s worth fixed up? If it’s completely fixed up, what do you think it’s worth?” Or even asking before that question, “How much work do you think the property needs?” “Well, probably 20,000.” “Well, what do you think it’s worth when it’s totally fixed up after you put in there.” It’s so interesting to find out what their response is because that sets up a price. I mean, you can easily start subtracting and figure out where that price is with them, logically, and it makes sense to them.
I think that that is such a gold nugget for everybody to take with you. When you’re out there in the field and you’re talking to homeowners, if they don’t give you a price or even if they give you a price, but you know that they’re just throwing it out there because, maybe, somebody said that or maybe that’s just what they had in their mind or they saw something online, ask them, “How much work do you think it needs? How much do you think you’d have to invest in the property to get it just perfect?” “Well, this amount.” “Okay, great. And then, once that’s in there, what do you think it sells for?” And then, you could back out from there. I think that that is so awesome. We do it all the time here.

Spencer: Yeah. And not necessarily using the logic against them, but kind of almost playing dumb that, “You know this house better than I do, Frank or Tom or Sally. Tell me what you might think it’s worth. Tell me what kind of repairs you might see here.” And so, just by taking the time to do that, you can sometimes squeeze quite a few more dollars out of the deal just by explaining to them that the numbers don’t work based upon how they are giving it to you.

Brent Daniels: Love it. Love it. So, Spencer, we started this whole conversation talking about earned income and value. What do you think is the biggest value we provide as wholesalers in our marketplace?

Spencer: The biggest value that we provide, that I provide is, solving a problem, creating a solution for a homeowner and providing a product for an investor or the end user. I used to be a real estate agent, and most real estate transactions would take what, 30 days-

Brent Daniels: Mm-hmm (affirmative).

Spencer: … 40, 45 days. And the more agents that were involved and the more buyers that were involved and the more seller, the more attorneys… In a normal real estate transaction, you got a buyer, you got a seller, you got a buyer’s attorney, you got a seller’s attorney, you got a buyer’s agent, you got a seller’s agent, and that’s six people involved in the transaction. A lot of times whenever you’re dealing with a wholesaler, you got the buyer, the seller, and the closing agent.

Brent Daniels: Mm-hmm (affirmative).

Spencer: And that’s it.

Brent Daniels: Mm-hmm (affirmative).

Spencer: And so, there’s some simplicity to the process by saying, “Hey, it’s going to be simple. It’s going to be easy. We’re going to get this done for you as quick as we can.” And so, people, they’re giving away a lot of equity. A lot of people are trying to simplify their life. They’re not trying to make it more difficult. And so, I hear that from a lot of people that are trying to get out of these houses. They’re trying to simplify their life. They’re not trying to make it more difficult.

Brent Daniels: Love it. Yeah. Absolutely. And I love how you started with the seller first as opposed to the buyer, even though the buyer is the one that pays the assignment fee. You know what I mean, because you have to solve the first problem before you can provide the opportunity to the buyer? And buyers out there, in my experience with the guys that are running crews and their background is construction and their background is fix and flipping or their background is buy and hold, they don’t want to spend thousands of dollars of marketing money every month. They don’t want to pick up the phone and cold call people hour after hour, after hour, to find opportunities. They don’t want to sit down and have that conversation with the homeowner. They don’t want to go and deal with the emotions and the drama that’s involved in real estate transactions, sometimes. They just, simply, want, “Hey Spencer, what do you got for me? Here’s the property. Here’s the price. Great. I’ll take it.” Right?
That is the value. The value is, they are looking for the opportunity to be able to do tasteful remodels or build up their portfolio and they’re looking to you to help them do it. And I think it’s powerful.

Spencer: Yeah, no, you hit the nail on the head with that one for sure.

Brent Daniels: Yeah. So, any advice that you would give if somebody’s listening to this podcast and they’ve never done a deal or they’re trying to figure out what wholesaling is, what advice would you give somebody that’s completely brand new coming into it or maybe has done a handful of deals but doesn’t necessarily have the consistency that they want?

Spencer: So, the first thing that I always tell people whenever they want to get into wholesaling or they want to get into real estate is, “Know your product.” You want to be educated, you want to provide value. And so, for one, if you’re trying to provide value or a product to your buyer, you have to know what that product is. You have to know what that value is. It’s just like going into a sales meeting with Walmart or Coca-Cola and you’re going to try to sell them your product. If you don’t know anything about your product, you’re probably not going to sell them on your product. You know what I mean?

Brent Daniels: Absolutely.

Spencer: And so, a lot of times, my buyers I know exactly what they’re looking for. I know that they’re trying to buy houses that are, before 1980, two-car garage, three-bedroom, two-bathroom, furnace is no more than 10 years old, the roof, if it’s old, they can replace it. I just put a product in front of them and tell them exactly what’s wrong with the house. And, usually, they just pull the trigger, right away. “Hey, it’s a four-bedroom, two-bathroom, it needs a new kitchen, needs a new bathroom, hot water heater is six years old, furnace is 20 years old, the electrical was updated two years ago, it’s got a new roof, windows are good. Right?
So, if I tell that to a buyer, I sound really educated. I know exactly what I’m talking about. He’s going to know that that product is what it is, and so, he can make a quick decision on that product. So, if you don’t know anything about real estate, you can succeed. It’s going to be tough, but, just going on appointments, and looking at houses, is probably one of the best things you can do as a newbie, because you pull up a furnace and you realize it’s from 1972, and it’s probably going to need to be replaced. Right?

Brent Daniels: Yep.

Spencer: Or you look at a roof and you see a bunch of missing shingles. Well, the more houses you look at, the better negotiating you’re going to be with the seller, but you’re also going to get better at knowing what needs to be fixed on houses. And so, if you can, not only be educated with your seller, and saying, “Hey, all this stuff needs to be fixed, the numbers don’t work for me, at this price, can you make this number work?” “Okay. Yeah, I can make that number work. Let’s do the deal.” Right?
So, if you’ve got no reason to give them to come down on price to the seller, well, then, it’s just a matter of the numbers game. “Well, I can give a $20,000.” “Okay, why are you going to give me $20,000?” “Well, that’s what I want to pay.” Well, that’s not very convincing to a seller. Right?

Brent Daniels: Right. Yeah.

Spencer: Yeah. So, I say, “Hey this roof’s going to cost me seven, this hot water heater is going to cost me 1,200, this new electrical panel is going to cost me 1,500, new floors are going to cost me three grand, new kitchen is going to cost me 12 grand, paint inside and out is going to cost me five grand.” You start adding all those things up and they start to get overwhelmed by how much knowledge you have about them. So, being a property manager, I had a bunch of experience with tenants and I could tell them about all the bad cases of people moving out in the middle of the night and someone breaking in and stealing their hot water heater and the water floods and the floors buckle and now you’ve got a house that needs an extra $15,000 worth of work, you can convince someone that that doesn’t want that to happen to sell you the house for a lower price so that won’t happen to them-

Brent Daniels: Sure.

Spencer: … Right?

Brent Daniels: Sure.

Spencer: So, there’s different stories and different scenarios you can bring up by knowing and being experienced with different scenarios to convince a seller or to convince a buyer to buy a property. That’s what I was saying at the beginning, know your product, know the value of the homes, be really diligent about that, and then, you just got to go find the product. You got to go find houses. Anyone can teach you how to do that. That’s the easy part, finding houses. There’s programs and teachings and things you can learn on how to find houses. That’s the easy part. The other stuff is the hard stuff, I think.

Brent Daniels: Got it. Well, thank you so much for joining or, at least, participating in this podcast today. I really appreciate it. And everybody out there, if you are interested in getting more information or just talking or you’re looking for a mentor, or you’re looking for some sort of teaching or coaching or just some guidance, the path that both Spencer and I have been on with Wholesaling Inc., go to www.wholesalinginc.com/ttp, and schedule a call with me. Love to chat with you, see what your goals are, see where you’re going. This business is incredible. It is so noble to go out every single day and talk to people and provide value and service in your marketplace. If that’s you, then go to the website, schedule a call. Would love to chat with you and we will talk to you next time. Thank you so much.

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