Today’s special guest is Mitzi Childress. The gracious mother of 2 has been doing real estate on and off since she was younger but has now decided to do wholesaling full-time. She now earns an average of $20, 000 to $25, 000 per month and she’s now meticulously building her team so she can get more leads and close more deals.
What’s the secret of her wholesaling success? While a lot of factors are involved, several of the deals she’s closed have been attributed to her ability to establish rapport and effectively build a relationship with the prospective sellers. In this episode you’ll discover how to do both so you better be all ears!
While she has been a financial adviser for 10 years, helping people with their health has been Mitzi’s focus prior to wholesaling. The one time wellness counselor and meditation teacher however soon realized she can also help people through a career in wholesaling.
- She sent out mails to the divorce list and she received a call from a seller who is going through a painful divorce.
- Wanting to help rather than just close the deal, she recommended that the seller deal with realtors. However, seller opted otherwise and instead asked her for her highest offer.
- She offered the seller $140, 000 and was able to sell the property for $165, 000. That’s a whopping $25, 000 profit for a deal she closed in just 7 days!
- While the seller has the option to work with others, she opted to work with Mitzi all because she was able to establish rapport and build a connection with her.
Not many may realize it but the importance of establishing rapport and building relationships in wholesaling cannot be overstated. Once you are able to successfully do both, the money will almost always follow.
- Think and Grow Rich by Napoleon Hill
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Speaker 1: Okay. Welcome to another edition of the WholesalingInc podcast. And today we are going to put someone in the hot seat. We’re going to pick their brain and we’re going to dissect another awesome wholesaling deal so you guys can learn from it. We’re going to dig deep today and you could just take this information, use it, implement it in your own business. And hopefully have the same successes our guest has been having today. So we’re here today with Mitzi. So Mitzi, are you ready for the hot seat?
Speaker 1: Perfect. I love it. Let’s rock and roll. So first off, before we get started, why don’t you tell the audience just a little bit about yourself and especially how you got started in wholesaling.
Mitzi: Oh wow. Okay. So actually I did it on accident when I was younger. I didn’t really realize what I was doing. I found a piece of land and I was like, wow, it’s right near the lake. It’s got septic, it has water, it has a storage shed on it, really nicely built storage shed. And it was a nice size lot of land and somebody was selling it for $1,700. And everybody was telling me don’t buy that, don’t buy that. And I was like, I could buy it and seriously resell it and not really have to do anything to it. So I got it. And then I cleaned it up that weekend and the very next day I sold it for $4,500. And I think I could’ve sold it for more, but I doubled my money. Then I was like, I’m going to do this a few more times.
And so I was doing little things like that when I was younger, just noticing that something was mis-priced. And then I got a mentor in April of 2016. I was actually reading the book Think and Grow Rich again.
Speaker 1: Love that book.
Mitzi: Yeah. And I was a wellness counselor at the time. And I was just thinking, you know, there’s just still something more out there that I’m not doing that I feel like I need to do to feel more satisfied. So I was reading the book and all of a sudden the real estate stuff started coming back up to me. And I’d been doing that on the side and I was like, why don’t I just do this full time? And within two days I hired myself a mentor to learn about flipping, actually, was what I was trying to learn. And I guess I hired the wrong mentor for flipping cause they taught me wholesaling. It’s the same thing pretty much just you don’t have to put all the money and credit up for it.
Speaker 1: That’s why we love wholesaling so much.
Mitzi: Yeah. Yeah. So it was really neat to find out, cause I didn’t even know that this was a business. And so I had gotten, it was more like a three day workshop really. And so I did that and then I was like, okay, well I’ve paid $5,000 I got three days training. And I was like, I need to make this work now. Within 23 days I had my first deal and it was actually a profit at 50,000.
Speaker 1: Wow.
Mitzi: Yeah. And then my second deal profited 50,000. And then I had people ask me, what are you doing? And so I continued to get deals after that. And I met Cody and Tom when they came to San Antonio. And I was like, I want to sign up for their stuff cause they’re where I want to be. So, I talked to them while they were down. And then it probably took me, I don’t know, six months to sign up for their mentorship before I did. And so I signed up for that. And I never did direct mailing before Cody and Tom.
Speaker 1: So let me ask you, let’s go back just a little bit. So in April ’16 you hired a mentor. You were thinking, I’m going to learn flipping because that’s what everybody’s. Flipping, flip, flip, flip. And you did these two wholesale deals for 50K each. Which is insane, by the way. How did you get those deals?
Mitzi: You know what’s funny is nobody could seem to get those deals. And that’s why everybody started coming to me. How did you find these people? Well, I was cold calling and I took on the attitude of I’m going to be like that stalker ex boyfriend.
Speaker 1: I love it.
Mitzi: I’m going to find out where you live, where you work, who’s your friends. And so I found out as much as I possibly could about the owners. And so I was reaching out even to their family and friends. And I had somebody tell me, Oh, they don’t want to sell. They just want it to go to tax foreclosure so leave them alone. Well, I wasn’t going to leave them alone. So I continue to reach out to people until somebody was like, yeah, I’m one of the sisters. I’m like, Oh, okay. And I thought I was calling like their aunt or uncle actually.
But it was them. And, so we started talking and of course it’s one of those stories where the other two sisters hate her and she’s the black sheep of the family. So, they won’t tell her anything. So they don’t really want to sell because they can’t get along and it can’t be in the same room. And so I was finding out where all the issues were and I was like, let’s dissect this and see how I can help you guys out. And in the end I got it where they all came into the office at different times to sign the closing paperwork. And I actually only got the house for $3,000 and it wasn’t worth 110.
Speaker 1: Wow. Holy smokes.
Mitzi: Yeah. And I was told get it as low as you could. So I actually only offered him $1,500 for it originally.
Speaker 1: Oh man.
Mitzi: And then I upped it to a thousand and they were like, I don’t know. I don’t know. And they were saying, I think you’re going to make a lot more than us. And I was like, well, it’s not about me. It’s about what are you getting. You were going to let it go to tax foreclosure, but now you get to get go on a shopping spree. You get to take your family on a small vacation. How about like saving up for Christmas? How would you do an awesome spa day and then take yourself out shopping after that? You can do both of those together. You can do that now instead of just having it go to foreclosure. And right after I said all of that to them, they said, okay, so you want us to come into the office at nine o’clock tomorrow to sign.
That was their response to it.
Speaker 1: Wow.
Mitzi: And I was like yes. And so the next morning they signed the paperwork.
Speaker 1: That’s awesome.
Mitzi: I was able to sell that one really fast. I sold that just by putting a bandit sign in the front yard and saying for sale, cash, $55,000 please call. And then I told him to call my number and I sold it off that bandit sign.
Speaker 1: Wow.
Mitzi: And I got a lot of cash buyers through that too. And then also I held an open house so I was able to collect a lot of cash buyers on that first deal. Second deal, it was pretty much the same thing and did the exact same thing. Collected a lot of cash buyers. And also found somebody nobody could find and the lady was mentally ill. So, her aunt had to handle everything, you get power of attorney. And I actually on that second one just told them, I walked in and she was like, well, I’ve got a lot of investors looking at it.
And I said, okay, so what’s the highest offer so far? She goes, I’m not going to tell you that. And I was like, well, how about this? I’m going to offer you a thousand over the highest offer as long as it’s reasonable. But just let me know what all their offers are and just give me a call back. And she was like, okay. And I had met her at the house, I was saying this to her and we had a, I built a good rapport with her. Talking about the family and everything. And she actually called me back and told me what the highest offer was. And I made a thousand over and she accepted it. And she called me back later that day and said, somebody made an offer 4,000 over your highest offer. I was like, okay, so what do you want to do? And she goes, I’m actually still going to go with you because I like you better.
Speaker 1: Ah, there you go. That’s it. That’s what it comes down to. A lot of people don’t realize that. But in this business, I mean of course it’s a people business, but you know, you sat, you took extra time with her, you built a relationship with her and she chose you. She could have had a couple of thousand dollars more, but instead she liked you. That’s what it comes down to. I love that.
Mitzi: Yeah. Yeah. She knew that I was wanting to give her the highest offer and only make sure she got a fair offer. So I was like, keep on getting more offers, let me know. So she knew I wasn’t one of those, just wanting to come in and just take it for the lowest I could. And she felt like I was in for their interest as well.
Speaker 1: Sure. That’s awesome.
Mitzi: Nice first deals.
Speaker 1: Nice first deals. I mean $50,000 in profit times two. That’s incredible. And you still didn’t really know that much, what you were doing at the time. I mean you hired this mentor. How long was it from the time that you hired that mentor till you got those first two deals?
Mitzi: So my very first one, it was 23 days after the first day of my mentorship.
Speaker 1: Wow, that’s crazy. And what about the second one?
Mitzi: The second one, it took me six months to get that second one. You know what I did is I made a mistake. After I made that first deal, I was like, oh party. Let’s go on vacation, let’s take a break. And I didn’t keep my pipeline going cause I didn’t know any better.
Speaker 1: Right.
Mitzi: I just thought if I did that in 23 days, I can do it again. And then that’s when I learned the hard way. You need to keep your pipeline going.
Speaker 1: Yes. So true. And that’s an important lesson. And, unfortunately I know some people personally that have fallen into that same trap where they’ve had a nice big windfall. And then all of a sudden it’s time for a vacation. And that’s the time when you really have to punch the gas instead of hitting the brake. You’ve got to just like kind of go all in. But, listening to your story, Mitzi and how you got started, I’m just thinking how awesome it is. With that attitude of grit, I’m going to be like a crazy stalker girlfriend, ex-girlfriend or something. And I’m just going to get to this. That’s the thing that you need to make it in this business. You have to have that kind of, that attitude, that grit to really become successful in this business. So Mitzi, that was April, 2016, a year and a half later. So, tell me, what does your business look like today?
Mitzi: So I average, and I’m really working on my average getting higher, but I average about 20,000-25,000 a month right now. And in the last, I think last three months I’ve made 75,000.
Speaker 1: It’s good money. That’s great money actually. Where are you looking to go with that?
Mitzi: 200,000 a month?
Speaker 1: 200K per month. Okay. I like that. That’s a great number too. I love it.
Mitzi: Yeah. And so that’s where I’d like to be. So I feel like, I’m still a baby with my goals. But, it’s getting there. I’m adding on acquisitions managers, training people, and building my team now so I can start getting more leads coming in and more deals closed.
Speaker 1: And that’s all within a year and a half. That’s phenomenal success. So tell me again. What did you do before you were doing this? Before April of 2016, what were you doing for a job?
Mitzi: So I was actually a financial advisor for about 10 years. And then I quit that to become a wellness counselor. I was actually going to school to be a pre-med major. So I was wanting to be a doctor. And that changed last minute. And I went into finance. I had two children while going through college. And so I went into finance and became a financial advisor. While doing that, I still had this desire to still help people with their health. Cause I saw so many people. If you don’t have your health, it doesn’t matter how wealthy you are, you don’t really have any quality of life.
Speaker 1: Absolutely.
Mitzi: And so I love to see people happy. And I also saw people in my own family, their health deteriorating. So I was like I really need to get back into this wellness side of things. So I took some classes and got certified and became a yoga teacher, a meditation teacher are you Aryuvedic wellness counselor. And did all of this and then I quit so I could start my wellness business. So I was actually helping people with diabetes and nutrition issues at the time whenever I started into wholesaling.
Speaker 1: Nice. Okay. So now you are doing this, you’re all in. This is full time. You’re building a team. By the way, how big is your team?
Mitzi: As of yesterday, cause I had a few more that wanted to come on board, I think I have 17 acquisitions managers.
Speaker 1: Wow.
Mitzi: And it’s amazing cause I didn’t want to go out there and try to talk people into working with me. What I did was, I’ve had a lot of people ask me how I’ve done what I’ve done and asked me to do a mentorship. And I was, I want to do a little more than that. I want to create a foundation, a company where I can teach them and they can get paid. And it helps me and I help them. Because I see people with some mentorships, they get out and they’re still kind of confused on what to do. So I created that. And so all the people that have been reaching out to me, I just said, you just want to work with me. I’ll teach you and this is what we’re going to do. And they’re like, okay. So I just had people coming to me on that. And then I did an ad also, but really it was everybody who had already been reaching out to me. And, I’ve actually just finished a month long training that I did, for my first group. And then I just got a few more on yesterday that’s going to start in a new group.
Speaker 1: I love that idea. I think that’s a true servant mentality. It’s like, come with me, I’m going to give you value. We’re going to build something. I’m going to teach you along the way. I love that, Mitzi, that’s awesome. So I’d like to talk today about a recent deal that you did and kind of dissect that, of course. So tell me about a property that you’ve recently wholesaled and let’s talk details.
Mitzi: Okay, so I mailed out a list. And it looked like when I came to her house that she had quite a few people that direct mailed her. And she had all of our stuff right there on her counter. And she was having heart issues and going through a divorce. And she really didn’t want to deal with realtors. So she would just wanted to see what we would offer her. And I was like, well again, since you’ve got so many people coming to look at your house, let me know what your highest offer is. And she came back to me and was like, can you just make me an offer? And I was like, okay. I told her like 150,000. And you know what? This house was in a very nice area of San Antonio. It was fully remodeled. They had just done remodeling it. So actually didn’t need any work or anything. And the house was worth about $245,000.
Speaker 1: Wow.
Mitzi: I bid her an offer of 150. And she was like, Oh, is that all you can do? And I was like, yeah, and I think you really need to go to a realtor. So I do think you need to do that. And, I’m going to go ahead and pass. And you need to go to a realtor and here’s somebody who would refer to you for a realtor. And she goes, no, no, don’t Mark me off your list. Please don’t do that. And I was like, okay. And she goes, I want you to buy it from me. And I was like, all right. And I was like, well, I was looking at the numbers again, I need it at 140. And she was like, 140. Is that all you can do? And I was like, yeah, and like I said, I think you should go through a realtor.
And she goes, no, no, no, I want you to buy it. And I was like, okay. And I developed a relationship with her when I was there in person with her.
Speaker 1: Sure.
Mitzi: Talked about a lot of stuff. What’s going on with her and everything. And I always let them do a lot of talking. And then I usually reiterate with them, letting them know I heard everything. And most of my sellers actually still want to be with my friend at the end. And they’ll still reach out to me. She was like, no, I want you to buy it. And I was like, okay, well let me know if 140 works for you. Then she calls me back after talking to her husband that she’s getting divorced from. And she said, yeah, we’re going to do it. You said that you can get it done quickly. And I was like, yes, I can do it within two weeks. Usually I do it faster than that, but let’s just give a two week timeframe. She was like, okay. The next day I had it sold. I just sold it for 165. I made 25 off that. I could’ve made a lot more. And the person who bought it from me actually relisted it for 248 right afterwards.
Speaker 1: All right. So 25K is still an awesome payday. And again, it came down to her wanting to sell it to you because she liked you. She liked you. You sat there, you listened. And I think that’s a key component that some people miss because they’re so focused on getting the deal. And they’re not focused on the person. They’re not focused on the situation or what this person is going through and really listening and thinking about how can I help this person? So in this case it was like, okay, you told her that, maybe you’re better off listing with a realtor. You wanted this deal, obviously. But you knew, based on what she was looking for, that you weren’t the best solution. So instead, what did you do? You tried to refer her to someone, I could give you someone that could maybe help you do this. But she still came back to you. I love that.
Mitzi: I’ve noticed with a lot of my people is they realize I am there to try to help them. I’m not there trying to just take their house from them. Cause some of these people feel like that.
Speaker 1: I listened to you, having a conversation with you. I’ve never talked with you before today. But I’m ready to buy a house from you. You just sound so, you’re just so personable and so nice. And I can’t emphasize that enough in this business. That’s what it comes down to. It’s not about trying to get the deal. It’s trying to help somebody get out of a situation because that’s what they’re in. This woman was having a divorce. It’s painful. It’s not easy to talk about. They needed to do this quickly. And you were the perfect solution in the end. I love that. Now how much time did it take for you to close this deal? Like from beginning to end, from the time that she received your, what was it a postcard? Or was it a direct mail piece or what kind of piece of?
Mitzi: The one, the $140,000 house that was fully remodeled. That one, within the timeframe that she got the, it was a letter, actually that one was. And most of the time I send out postcards though. I think within a week of her receiving it, we had it under contract. I would say probably two days after she received it, she called us and then set up the appointment. And of course we try to get there as soon as possible. If we can that day, if not the next day. And I go from there. But I did ask her to look around to make sure she felt comfortable with what I was doing. And she talked to a few people on the phone. I don’t even think she scheduled anybody else to come out after I came out.
Speaker 1: Wow.
Mitzi: And, that’s just what it sounded like when I was talking to her. And probably the time that she called to the time we closed, it was maybe seven days.
Speaker 1: Seven days to 25 grand. That’s fantastic. That’s really awesome. I got to ask you, what was the list that you mail to, to find this property?
Speaker 1: Divorce list. Okay. Well, they were getting a divorce, so that makes sense. Well, that’s an awesome deal. My next question, and this is a question that we traditionally do ask people after they’ve kind of shared some of the details of their deals, is if you could go back and do something, anything different on this deal, what would you do? But, I think we already have the answer on that. Because at least I’m speaking for myself here. Hearing that, someone just listed it, picked it up from you for that and listed it at what you said, 248 right?
Mitzi: Yeah. They almost, they’re going to be making 80 something, almost $90,000 off of it, just for an easy, just relisting.
Speaker 1: Wow. So, if you could go back then obviously you would have sold it higher.
Mitzi: Oh, of course. Yes.
Speaker 1: So let me ask you a question. So I know you only been doing this for a little while and you’ve done amazing things. I mean, not for nothing. You should really celebrate what you’ve been able to do in such a short time. It really is incredible. What made you sell it for, to make the 25K in this case? What made you pick that number and think, let me go for this. Instead of trying to sell it for 50 or 60 or $80,000 more.
Mitzi: I didn’t want to get greedy. That was the first thing. And then also I had a cash buyer that had been wanting to work with me. And I told him, you know what, we’ll do a deal on this one. I hope you guys like it. So you’ll come back to me for more deals. So I did it for both of those was to hook somebody up and then I didn’t want to get too greedy.
Speaker 1: Nice. Okay. Well at the end of the day, in a week, you made $25,000. That is a tremendous sum of money. And I applaud you for that. I don’t have a victory bell here, but you know what, I’m clapping for you cause that’s awesome. So I got to ask, for the people that are listening, I know that there are all kinds of different people that are listening. There are people that aren’t wholesaling. There are, aspiring wholesalers. There are people that are doing some deals. And there are people doing a lot of deals that are listening to this right now. What advice would you give to the person who’s just kind of starting out. Who’s just where you were just a year and a half ago. Who’s sitting there saying, I know that I could do this, but I don’t know what to do or where to go, or how to start this. What advice would you give to them?
Mitzi: Just do something. Don’t, get too bogged down on the educational part. Set an appointment. Call people. Ask them, are you interested in selling your house. Or mail to a certain lists and just see who calls in. And just ask them, are you interested in selling? And of course if they call you from a direct mail list, they are interested. And set up an appointment. Go out there and do what you know to do and ask people questions along the way. But to try to learn everything before you start. You’re not going to know what questions to ask anyways until you start. Of course, I can’t say don’t be scared because that’s just ridiculous. People are going to be scared. But just do it anyways. I see people every day, they just don’t pick up the phone or they don’t go and make the appointment. They’re scared. They’re like, I don’t know what to say to them. Be a person. Don’t, come off like, hi, Mr. Smith. I need my checklist and I’m going to look at your house and say, what’s all wrong with it? No. Act like a person. How would you want somebody to come into your home and talk to you? Like a person.
Speaker 1: I think that’s great advice. I really do it. So essentially it’s like get off your butt and get out there and make things happen. And that’s what it comes down to. It’s like, taking that action. You’re only going to learn from experience.
Mitzi: Exactly. And also have good intentions when you are out there. I do believe in energy. And I feel people can pick up on your energy. And if you’re out there just to make a dollar for yourself, they’re going to pick that up. They’re going to feel that and they’re not going to call you back. You need to be there really with the intention to help them.
Speaker 1: I totally agree, by the way, on the energy portion for sure. So I’m totally with you on that and I couldn’t agree more. So. Perfect. Great, great advice. Great closing advice and awesome. Awesome. Well. Mitzi, listen, I want to thank you from the bottom of my heart for coming here and sharing this with our audience today and spending some time with me today. Thank you for all the awesome advice that you’ve given us today. And for anyone listening, if you’re sitting out there sitting on the fence, and you want to get started and you don’t know where or you don’t know how, we would love to help you. So if you want our help, just go to WholeSalingInc.com. Book a call with our team. We’ll jump on a call with you and we’ll talk about what it is that you want to do. What kind of goals do you have, what are you looking to do with wholesaling?
We’ll talk about how we can help you and maybe create a plan to help you get there. So again, that is www.WholeSalingInc.com. And again, Mitzi, thank you so much for your time today and we will talk to you soon.
Mitzi: Thank you. You guys have a great day.
Speaker 1: Awesome. You too.