Today’s special guest is Ruben Herrera from Las Cruces, New Mexico. This down-to-earth husband and father of 4 has been a tribe member since December of 2016. So far, he has closed 7 deals the past 12 months and has decided to become a full-time wholesaler this August.
In today’s episode, you will learn how he discovered wholesaling, how he took action despite his fears, worries, and apprehensions, the book that changed his life, and how taking an uncomfortable leap led to a massive $30, 000 pay day!
If are looking for something inspirational, Ruben’s story is exactly what you need to hear. Truly, this is one episode you will download and listen to over and over again!
Prior to joining the lucrative world of wholesaling, Ruben worked at the Department of Homeland Security. He worked 12-hour shifts, 5 to 6 days each week, and was constantly missing special occasions.
One day, he heard Tom being interviewed on a podcast and from there decided to become a tribe member and give wholesaling a try. And that decision changed his life in more ways than he could have possibly imagined!
- While he has closed several deals already, the most notable transaction he’s had was one where he earned $30, 000 for taking an uncomfortable leap of faith.
- To score leads, he puts out bandit signs so anyone who wants to sell can just give him a call.
- He got a call from a really motivated seller. He can tell from her voice that she was distressed and wants to get rid of her property right away.
- When Ruben scheduled a meeting with the seller, it was only there that he discovered she wants to sell something he does not have any experience with—a mobile home!
- From the seller, he discovered that the trailer park where the mobile home was on was shutting down because of some environmental issues.
- This is the part where Ruben took a massive and uncomfortable leap of faith. Even without any prior experience dealing with trailer parks, he gave the owners a call.
- He learned that the owners are elderly and have been trying to get rid of the trailer park. In fact, it has been listed for 2 years!
- Initially, the owners wanted $250, 000 for 12-acre trailer park (35 spaces). However, when he offered them $165, 000, the owners happily accepted.
- After having the property under contract, he submitted it to his buyers list and he got a response from 4 investors. However, come inspection day, he was in for a welcome surprise when 10 investors showed up!
- He got 5 offers and the highest was $195, 000!
- While the deal took 3 weeks to close, it was worth it since he walked away with S30, 000!
The wholesaling world is not for the faint-hearted. There will be times when you’ll need to take a leap of faith and dive in head first. However, Ruben’s story is a testament that as long as you have the courage, you will be rewarded handsomely!
- The Four Spiritual Laws of Prosperity by Edwene Gaines
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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Cody Hofhine: Welcome to another podcast episode right here with Wholesaling Inc. my name is Cody Hofhine and today we have yet another rockstar [inaudible 00:01:00] , that’s going to share their story. So all of our Rhino Nation, all of our listeners today get a pen and a piece of paper out unless you are driving, but get ready to jot down some gold nuggets that you can start implementing today to help your wholesaling business grow and explode for 2018. So today we have Ruben Herrera. He’s from Las Cruces, New Mexico, married and has four kids. He’s been wholesaling for about 12 months, been part of the tribe since December of 2016 and in that time he has done seven deals in the past 12 months and he decided to go full time investor, full time wholesaler since August.
And since he took that leap, that uncomfortable leap, we talked about this on the podcast all the time of getting uncomfortable. We find success, we get uncomfortable. He got uncomfortable and made the leap into full entrepreneurship to be a full time wholesaler since August, and since then has closed five deals and we’re going to be talking about one of those deals today where he made some good, good, good money. I’m going to share those details. I’m going to have Ruben share those details here a little bit later so we don’t share all the secrets, but let’s get to this right away. Ruben, how in the heck are you, my man?
Ruben: Hey Cody, how’s it going? I’m doing good, thank you.
Cody Hofhine: Super well. I’ve been so excited because we’re supposed to do this podcast like, about a couple of weeks ago and with all the recording and stuff, it was echoing and things were going whack and going wrong. But I’m telling you, I have been super excited about this because the deal we’re going to talk about today is a deal that I think so many of us maybe could look past or not even see. And so the fact that you’ve made a deal of this is going to be is awesome. It’s going to open her eyes to just a whole new way of looking for wholesale deals. So I’m excited for that. And more importantly, I’m excited that you’re full time, my man. Like, what got you into doing this full time and to have the courage to make that leap?
Ruben: Well, it was just pretty much with the goals of having financial freedom, wanting better out of life for my kids, for my family, you know, for my legacy or for my whole family as a family tree and all that. So I just started doing a lot of reading, looking for more ways to build more income and get in to debt free things to relieve debt. And I came across wholesaling cause I really liked real estate and wholesaling was kind of the way I could approach real estate better with my, you know, the way I stood financially and career wise and all that.
So when I kept reading about wholesaling, I figured out a lot of ways to do it, but I was still scared to do it. There was still a lot of missing pieces that I didn’t know about. And then one day I was listening to a podcast and they were interviewing Tom on it, and he was talking about his company Wholesaling Inc, the tribe, being the rhino, this and that.
So I went and I looked up, Tom, read more about him, gave you guys a call, and then became a member. And since then, courses that are taken with you guys and what you guys taught me and everything just totally changed my life, opened up so many avenues for me and my family, and since then it filled in all those blanks, all those questions I had, and I just went for it and get it.
Cody Hofhine: You absolute rock star. So your story resonates with so many people and the reason why I’m so excited about this because like most people out there, we all, at some point, maybe not all of us, maybe you will work corporate America the rest of your life, but there’s so many people that your story rings true with them in the sense of, they want to be an entrepreneur, they want to be financially free, they want to spend more time with their kids. They want to have something they can pass down to their kids. This legacy wealth that you said. I absolutely love this, but it didn’t start out just full time, full time, full time. It was doing a lot of full time both for a job as well as doing this on the side until you got the point where you could switch over full time to be a full time wholesaler.
And so there’s so many people that I want that. As you’re listening to this, remember you don’t have to make that leap right from the get go. You can do this on the side just like Ruben. And so let’s … What did that look like? Were you working eight hour days, nine hour days, 10 hour days and then on top of that, what did that schedule look like? So we can kind of help our listeners that are wanting to do this. Paint a picture of what that looked like.
Ruben: Well my schedule was pretty rough. It was a 12 hour shifts working nights. I was working for Department of Homeland Security, protecting pretty much federal property. So it was a lot of lonely nights, long days, long nights. So I would, during the day is when I would try to make calls, see people, and try to get rest at the same time so I could do my 12 hour shift. So I was working five to six days of 12 hour days. Yeah, money was good, but I was still … it was all my time was dedicated to that job.
Cody Hofhine: Holy smokes. But you’re burning the candle at both ends too.
Ruben: Correct. Yeah. Right, right. And I just- I was just getting exhausted and I was like, I can’t do this for the rest of my life. I don’t want to be like this. I want to spend time with my family. I was missing birthdays, I was missing, you know, anniversaries, things like that. And prior to doing this job, I was in the military and as well as there, I was constantly gone. I was always gone, you know, and that’s not what I want anymore. I don’t want to waste my time, you know, building other people’s dreams or working for other people and not be able to work on my family. See those little things, those little moments with my family.
Cody Hofhine: I love it.
Ruben: [crosstalk 00:06:31] So I’ll work in that job. Actually, it helped out, I guess it was a blessing in disguise, move to the night shift to have more time alone. But at that time, I was reading more. So I started reading, you know, ways to better my future and that’s when I started going into like, debt relief so I wouldn’t live paycheck to paycheck, and then I need to, you know, more lines of income. So then I started looking at real estate because I’ve had a rental, one rental property in my life before this. So I figured, you know, a lot of people are making it in real estate. So I started looking into that and it seems like I needed a lot of money to get started in it. So I was like, I don’t got that. So what is the easiest way? That’s when it came across wholesaling.
Cody Hofhine: I love it. I love it. Well let’s do this. Let’s go into the, we call it the no fluff, no BS zone where we can help all of our listeners understand how you did this deal that we’re going to be talking about. So let’s break it down really granular for each one of our listeners. So tell me what it started out with, like what was the marketing for, what did that look like? Was it mail, was it postcard, was it bandit sign, like let’s break it down as granular as possible. So let us start right from the beginning.
Ruben: Okay. For this one it was actually, I did a bandit sign campaign.
Cody Hofhine: Okay. And tell me what a bandit sign is for those that are listening. That might be new.
Ruben: Bandit sign is pretty much just a little sign that you set up at intersections, things like that. It says, “We buy houses for cash,” and then in my phone number on there. So anyone driving by interested, just gives me a call, and then we start talking and go from there.
Cody Hofhine: That’s awesome. So you post these out, you put out the bandit signs, someone calls you up. Now, do you normally get a lot of phone calls from this? Are they really good phone calls mixed in with bad phone calls? Or all good phone calls? What does that look like?
Ruben: With bandit signs, I’m seeing pretty much they’re calling because there’s some type of motivation there.
Cody Hofhine: Awesome.
Ruben: So they’re pretty much good calls most of the time. I’ve never, I can’t recall getting a bad call from a bandit sign. Some type of motivation there.
Cody Hofhine: Awesome.
Ruben: They call me to either do a quick sale, or get some advice, or something like that. So for this particular one, [inaudible 00:08:29] called me because she wanted to sell her home. I scheduled a meeting with her.
Cody Hofhine: Like when you’re on the phone, first of all, like what was the motivation, I guess, before we even get to the home? What was, when she called, could you tell she was motivated and that’s why you booked the appointment?
Ruben: Yes, she was motivated because she was … you could hear it in her voice. She was distressed, she was trying to move out of a place, her home that she was living in because she already had bought another home. People were breaking into her home. They were taking stuff. She was just worried. She was scared to go back there. She just wanted to get rid of it, off her hands because she just didn’t want to deal with it anymore.
Cody Hofhine: Okay.
Ruben: So asked about, you know, a few questions about the home, listen about room sizes and all that, but I never asked like a main question of what type of home it was. So I just assumed it was a single family home.
Cody Hofhine: I already love the prep here. So we know we’re not talking about a single family home.
Ruben: So from there I scheduled the meeting, I go with her and I see her, and while I get the address to go there, pull up and I’m like, “Oh man, I’m in the trailer park. I think she was calling about her mobile home.” So then I meet up with her and we start talking and it is, it’s her mobile home that she wants to sell out of the trailer park because-
Cody Hofhine: Is she gets one of the tenants in the trailer park or does she own the trailer park?
Ruben: No, she just owned the trailer in the park.
Cody Hofhine: Okay. Okay. So she rented the land that her trailer was on?
Ruben: Correct, correct.
Cody Hofhine: Okay.
Ruben: So she was telling me about she wants to sell her mobile home and I kind of told her, you know, I don’t sell … I don’t buy mobile homes, really, but I know a few people maybe that do and can help her out. So I get to talking to her, she’s telling me that the trailer park that she’s in, they’re downsizing because of some kind of environmental issues, things like that.
So after talking with her and trying to help her as best as I could, I’m leaving the park and then I figure out, you know what, why don’t I give them a call about the trailer park, the owners of the trailer park. So I’m driving around the trailer park looking for a number and I see a phone number on there, so I call it. And it happened to be the owner’s, direct line to the owners.
So I’m talking to them about their mobile home park. I heard that it was shutting down and they started going into detail on why I was shutting down because of environmental issues, needing water pumps. There was a lot of upgrades they needed to maintain as a trailer park, and they couldn’t afford those. They were elderly, they were in their seventies, the husband had real bad health issues, and they pretty much maintain the park themselves, and they couldn’t do it no more. They said they had already tried selling it. They listed it with the realtor for two years and it never moved. And they said that they’re willing just to … they just want to sell the property and get rid of it as quick as possible. So then after asking a few things that they needed, it turned around they needed about $80,000 in upgrades in it. And since I’m new to this whole wholesaling to profit-
Cody Hofhine: I think you’re going to find out, Ruben, that all of us are new to some of these things. Like, I think I would’ve gone on that appointment and be like, um. I think I can help you, let’s find out.
Ruben: Right. I was just so nervous. I didn’t know. Like, I was scared. I was nervous. I was like, I have no idea what … how to evaluate a trailer park, what it goes for, what these codes are, water rights, anything like that. So I was just, you know what, and I just kept telling myself just go through it, and I kept remembering what you guys will always say, keep failing forward, you know. So I was like, just do it. I’m just going to end up learning something or I’ll fail and learn something still, you know. So I just made the call, made the appointment. Went and met up and talked with them and then come to find out I was like about $80,000 in upgrades they needed to do to get it up to code. They’ve had it listed for two years.
Cody Hofhine: What did they have it listed at, back when it was listed?
Ruben: $250,000 they had it listed at.
Cody Hofhine: Okay, okay.
Ruben: So it was a trailer park with about 35 spaces in it. So then when I am talking to him a little bit, I was like, you know, I think I could offer you this much. So I offered them $165,000.
Cody Hofhine: Okay.
Ruben: Yeah, $165,000. They’re like, “Well, we kind of want $170,000, but we’ll go ahead and do $165,000. And I was like, okay. So I got it under contract right there and then, and then so I come home and then I started doing my research on it to figure out what a trailer park-
Cody Hofhine: Like, did I just put something good under contract, or did I do something bad here?
Ruben: Exactly. So I didn’t even know what I had under contract. I just knew to me it was a good deal. 12 acres. Even that I just sold the land for $165,000, you know. It has to be a good deal. To me, it felt like a good deal. But I was still scared to handle something that high.
So I go set up with everything, start making phone calls, calling people. They gave me all their numbers that they … of environmental people, surveys, engineers, and I start calling them, finding out what was wrong, what issues needed to be corrected in order to get the trailer park up to code.
So after doing all that, I come back and then I told them that I’m going to go ahead and move forward on it and see what we can do, what I could do for them. And then there I go ahead and I submitted to all my buyers, to my buyer list, which at the time was about … I’ll say at that time it was maybe about 60 buyers.
Cody Hofhine: Okay. So key thing, even with 60 cash buyers. I love this because what’s the magic number, Ruben, that we kind of pitched to everyone?
Cody Hofhine: 150 cash buyers. So I’m already loving this because you’re at 60, which is, let’s just call it a 40%, 45% of where we like everyone to be. And I still already love where the story’s going to go. I’m not going to spoil it though. This is all going to be your show, my man. Let’s go for it. So you send it out to 60 cash buyers. How many people ended up saying, “Yeah, I want to take a look at it.”
Ruben: I got about three or four investors reply back, said they wanted more information, that they’re interested in it. So I start talking to them and then little by little I’m getting random phone calls about it. Like, “Hey, I heard you have a a trailer park that you’re trying to get rid of.” And I let them know yes, the situation and how it works and everything, and let them know my inspection date so they can show up.
So after talking to, again, as much information, they’re asking more questions I didn’t have no answers to so I had to go back and do more research on it. And all this time I’m worried like, I really want to help these people. They’re in dire need. I feel like I’m over my head, like I’m drowning. Like, I wasn’t too sure I was doing everything right.
So it comes to my inspection day and all of a sudden 10 people show up at my inspection date. And of course I have 10 people, 10 investors.
Cody Hofhine: This is like where your smile goes from like a quarter grin to like, ear to ear.
Ruben: Correct. Right, exactly. It’s like wow, amazing. So then I let them know when to put in their offers and the process after that. And then now here comes a day for all the offers to be in and I ended up getting five offers.
Cody Hofhine: I’m liking this.
Ruben: And for this deal, this was my first deal where I actually had multiple offers. On my deals prior to this, I would get one or two offers. So I really … instead of following exactly the course how I was supposed to, I kind of jumped ahead on this [crosstalk 00:15:13].
Cody Hofhine: I love the confession time. I love it.
Ruben: I always make that mistake. I think I know more than I do, and then I go forward and then, then I have to go back and re-review the courses of what you guys told me and okay, Ruben, you got to do it this way. Stick to what they say because you guys haven’t … anything you said has never led me wrong. I should’ve just stuck with everything you guys said in the beginning.
Cody Hofhine: See, but you still learned. It’s okay.
Ruben: Exactly. And of course just keep making mistakes forward. So what I should have did was let … notify all of them to give me their highest and best when they submitted their offer. And so they sent me in their offer and I’ll let them know where they stand. So I replied back with all of them like, make sure this is your highest and best. And they replied back with another offer which was higher than their original offer. So I ended up getting the property under contract for $165,000, and at the time I had my highest offer at $195,000.
Cody Hofhine: Oh my dear laws. You said put it under contract, $165,000. now you have an offer at $195,000. All right, keep going.
Ruben: So then from there, that was maybe a day after my offers were due, right? And then I get another offer later on that day for $200,000, but I already had agreed with this other [inaudible 00:16:29] , so I went ahead and stuck with them instead of going up for the higher amount.
Cody Hofhine: Which I think is very ethical, and honest, and praiseworthy for you because you gave them a deadline and that guy hit it and that guy didn’t.
Ruben: Right, exactly. So I went ahead and stuck with him and then I sent him the contracts, he signed everything over, came to give me his deposit, and we went to closing, and within … it took a little bit longer, maybe about three weeks the closing took, and then it closed.
Cody Hofhine: And three weeks later you had a check cut to you for, if my math is right, $30,000.
Ruben: Yes sir. $30,000.
Cody Hofhine: Oh man. Hold on one second. Oh, I want to keep this bell ringing for a minute. I love that. $30,000. Holy smokes. What does that do for you? What does that do for your family?
Ruben: My wife cried. I cried. It was just, it was a blessing. It was amazing. I couldn’t believe it. My wife is like, that’s more than I make in a year, and I was like, I know that’s just … It’s just truly unbelievable.
Cody Hofhine: Oh, my man. Like, what is your hopes and your dreams and your desires now? You probably see now that you’re full time, that you’re going to see stuff like this frequently now and you’re going to get consistent. What does it look like family time? What does it look … I mean, is this changing? Is it getting you the direction that you are wanting to go? Is this helping you accomplish what you want to accomplish and what you want your life to be like?
Ruben: Yes. This is that first couple steps into that exact direction that I want to be. Financial freedom, doing what I want to do, spending a lot of time with my family. Not living paycheck to paycheck, not worrying where my next paycheck is going to come. It just was a true blessing to me and my family and just opened up so many doors. It’s just been amazing.
Cody Hofhine: Ruben, your story. I absolutely love it. I just love how humble you are about it, that you’re just so appreciative and grateful for the opportunity and that you look at it in a way of gratitude, in a way of it’s helped me accomplish what I want, but I also want to commend you. It’s not easy. Like, give yourself one heck of a pat on the back because becoming a entrepreneur and jumping into entrepreneurship is not easy. It’s not an … I know you’re willing to say that to everyone on this podcast. You went through your ups and downs, but brother, you stuck with it. That is absolutely awesome. And the rewards came to your imperfect action.
Ruben: Yes, it sure did. I’m just so glad I didn’t give into that fear, or that worry, or that little voice in back of your head that says, don’t do it, that’s always trying to protect you, I guess. I’m just glad I didn’t give into that, and just kept my faith, and kept tithing, and kept praying and …
Cody Hofhine: Oh my man. I love it. I love it. I absolutely love it. So if you were to think back 12 months ago, what would you do differently now if you know what you knew now and you go back 12 months, what would you do different?
Ruben: I would say I would do everything exactly as you guys told me to do.
Cody Hofhine: I love it. I would’ve gotten the highest and best the first time. No, just kidding. I love it. That’s awesome. So just follow simple instruction, and I want every one of our listeners to understand there are so many people out there that know how to do it in anything. If you want to be fit, there’s so many people out there that know how to do it, that you don’t have to go out and make all of the mistakes yourself. Yes, you’re still going to make some mistakes, but there’s so much resources out there and it’s our lack of being resourceful, as Tony Robbins says, if we choose not to do it because the resources are there. There’s a gym at every corner. So we can’t blame that There’s not enough resources to be fit.
Same thing with wholesaling. Ruben, you took massive action, you got with a mentorship program, and because of that, you’re able to speed up the learning curve, make less mistakes, be more profitable quicker, and now here you are full time wholesaling, living, getting like you said a couple steps further along your journey in the direction that you really want your life to go.
Cody Hofhine: I love it, my man. I absolutely love it. What about books? Are you much of a reader because we always love to have our guests share a book that changed your life.
Ruben: Before, I never was, and I started going into this way and I would say of course the book that I would say changed my life completely is, of course, Four Spiritual Laws of Prosperity. After reading that book, I … I was always raised Catholic, and now I converted, me and my family, to Christianity after reading that book. So we’re now full blown Christians and I would say that book is number one for me, changed my life and everything.
Cody Hofhine: I love it. There’s so many people that get on the podcast that share that book as one of their game changers. And it’s just having that abundant mindset. Like, what was your favorite part about that book?
Ruben: I would say was just how to look at the positivity of helping people and giving. It’s always about giving. Never to think of it as giving and not receiving, or just to give just to receive. It’s just about giving and helping people.
Cody Hofhine: Yeah, and it comes back tenfold. It’s a lot of harvest. I love it. And that book paints it so clear on how to do that in such a simple way. So what a good book. I appreciate that. But Ruben, my man, I want to thank you personally and also from Tom, thank you for being on this podcast today. I know you are a busy man and I know you are one that’s going to go right after this podcast and go right back out to work and get some more deals under contract. So really, I want to thank you for taking the time to help each one of our listeners understand how they can get one step closer to their financial freedom. How they can implement some of the things that you have just shared with them so that they can become that much more successful in their wholesaling business.
Ruben: Thank you.
Cody Hofhine: Okay. Well, Rhino Nation, we have just heard another amazing podcast by Ruben Herrera from New Mexico. The guy is just crushing it, but it didn’t come easy. The guy took massive imperfect action, stayed uncomfortable and always, like he said, failed his way forward. So many gold nuggets are given in this podcast episode. Definitely, this will be one that you’ll want to download. This will be one that you want to re-listen to and take out that notepad and pen and give yourself some action items. Give yourself one thing. If you can just listen to this podcast and just pull one thing from every episode to take action on, you will be that much more closer to your success, to your wholesaling business blowing up and being consistently doing two, three, four deals a month.
Remember it’s like Darren Hardy said, it’s doing the simple things over and over again. It’s no big things. It’s nothing big. It’s nothing grand. It’s doing the simple things, the small things over and over again. If you guys want to personally need help building your wholesaling business and you want to crush your 2018 that’s just around the corner for wholesaling, reach out to us on wholesalinginc.com. That’s wholesalingI-N-C.com and book a strategy call with our team. We would love to talk with you on the phone, and if we love what you have to say, we just might invite you to be part of the tribe. Until next time Rhino Nation, take care and we’ll see on the next episode.