In the wholesaling business, the importance of building rapport cannot be overemphasized. Those who prioritize establishing rapport know all too well it can pay off big-time in terms of ROI. And the experience of today’s guest is solid proof of its amazing power.
Stephanie Caicedo is a new tribe member but she has already accomplished something truly impressive—she has done 7 deals and has earned an accumulated $145, 000 in assignment fees. What’s even more astonishing is she has only been wholesaling for 4 months!
If you are looking for tips, insights, and wisdom that can kick-start your wholesaling business, this is one episode you shouldn’t miss!
While part of her success can be credited to her religiously following the tribe’s teachings, she also acknowledges the massive contribution building rapport has played in her success.
- She found a seller through a personalized and handwritten letter she sent out to the probate list.
- Rather than rushing to close the deal, she prioritized connecting and establishing rapport with the seller first.
- From the very start, she was transparent and honest and showed seller she wanted to help and be of service more than anything.
- After all was said and done, she was able to put the property under contract for $138, 000 and sold it for $200, 000. That’s a $62, 000 reward for the help and invaluable service she provided!
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 episode here on Wholesaling Inc. My name is Cody Hofhine and I’ll be hosting today’s podcast. For those of you that are just new to the podcast, maybe it’s your first time listening to the podcast, we’re going to deep dive a topic called wholesaling. Wholesaling’s simply the art of finding deeply discounted properties and then from there, there’s multiple ways that you can turn that deeply discounted property into a lot of money. And so we’re going to talk some of the traditional ways of just simply assigning it, but there’s so many ways you can take this kind of property and make good money. So again, we’re going to talk about finding the deeply discounted property and then each and every one of our guests on these podcasts talk about the way that they were able to make profit from finding those properties.
So we’ll deep dive that today we’re going to deliver value. This is the no fluff, no BS zone. For those also that are new to the podcast and to all of our faithful listeners, we want to say thank you so much for being with us today and for being with us each and every podcast episode. We are about to hit our one millionth download, which is a huge, huge milestone for us. It’s been great. And so that is thanks to each of you out there downloading the podcast. And so if you like this podcast episode, give it a download and let’s get this over a million downloads.
Today we have Stephanie Casito with us. Stephanie’s been part of the tribe for about four months now. She’s from Dallas, Texas, and this lady is absolutely crushing it. She is dominating her market, doing a lot of deals. In fact, since joining the tribe, she’s already had five deals closed, two more closing this week for a total of $145,000, which is absolutely amazing. So we’re going to deep dive one of those deals with you guys today. So get out your pen, get out your paper and get ready to jot down some gold nuggets. Let’s get going. So Stephanie, welcome to the podcast, kind of introduce yourself and fill in the gaps anywhere that you feel like you could let us know a little bit more about you.
Stephanie: Awesome. Thank you so much Cody. I’ve pretty much do this for me and my dog, Nico, and we have a lot of fun doing it.
Cody Hofhine: I love it. And you said for you and your dog, Nico, what type of dog?
Stephanie: He’s a standard poodle with green eyes.
Cody Hofhine: All right. All right. You’ve got a lucky dog cause that is a lot of money you’re making for just you and a dog. I love it. Well let’s deep dive. Let’s go right into it. What got you into wholesaling in the first place?
Stephanie: Okay, so I was a full time realtor and when I was doing a flip in Plano, Texas, the floor guy introduced me to wholesaling. And-
Cody Hofhine: So you learned about wholesaling and you just took action and you got right into it and went full speed ahead. With this much action going on, seven deals, like this is absolutely impressive. We’re talking seven deals in the last four months. That’s just shy of $150,000 in total revenue. I am just floored. What does a day look like for you? Are you busy nonstop? What does that look like?
Stephanie: Well, we’re making phone calls from about nine to 12 and then after that we drive for dollar. Everything that we can that the tribe has provided us, we do anywhere from calling to absolutely everything.
Cody Hofhine: I love it. I love it. Now every now and again I might repeat some of the things you’re saying because every now and again it cuts out and so I just want to make sure that I catch it good. I know Dallas has some splotchy areas and so does Utah. We’re both have some splotchy areas of internet and darn those Comcast owners that keep charging us for it. So with that being said-
Cody Hofhine: With that being so, so sounds like you’re doing quite a bit. You’re doing some cold calling, you’ve got some direct mail going on, you’ve got quite a bit working for you and you’re just taking action. Which I absolutely love. So from there, let’s go right into recent deal that we’re going to deep dive today where you actually teamed up with another tribe member in Dallas, Texas. So take us from the beginning and let’s break it down granular step-by-step. What was the marketing that was able to produce this lead that we’re going to be talking about? This deal that we’re talking about?
Stephanie: It was direct mail and it was I believe a probate.
Cody Hofhine: Probate. Okay. And when you send out direct mail, are you sending out the tribe postcard or are you sending out letters? What does that look like?
Stephanie: Oh, so how we got this deal was from a handwritten letter that I actually personally wrote out and sent. We used the provider that we get the amazing discount nod with the tribe. For sure.
Cody Hofhine: I love it. Okay, so here you are with a handwritten letter for probate. So for those of you maybe new listening to this you’re like, what the heck is probate? What is it? So probate is simply, there is some kind of a change in deed. It could be that maybe mom and dad just passed away and their kids just inherited a home and it has to go through probate. So was this letter handwritten for like the executor of the trust or what did that look like?
Stephanie: Yes, for the executor of the trust.
Cody Hofhine: Okay. Okay. So executor of the trust for those listening, executor trust is just the person that inherited the home, the one that’s going to be over the estate or over the trust. So she hand wrote this letter over to the executive trust saying, I want to buy your home on 123 Main Street. My guess is somewhat similar to that. Is there anything specific that we’d want to know about for that letter that makes it kind of cool?
Stephanie: Basically, we really wanted to make it human in that we know what they’re going through, so we made it very personal.
Cody Hofhine: That’s awesome. So you’re already trying to connect with them, trying to understand, they’re going through a time where maybe they just lost someone in their family and you are still here to be sensitive to that and say, hey, if there’s a way we could make this a win-win, we’d love to do business together. We’d love to buy the home.
Stephanie: Oh yeah.
Cody Hofhine: Okay, perfect. So when this person called, was it pretty obvious like out of the gates that hey, we’re pretty motivated to sell this home or what was it when this individual called, how did that conversation go?
Stephanie: Conversation went kind of like this. It was an older lady and it was her husband that had passed and it was [inaudible 00:07:23] land meant so much to her. So we really just talked about her late husband and what the land, what she wanted. What was her outcome with making this phone call to me? Like why now? Cause I know that property was there sitting for about two years vacant.
Cody Hofhine: Oh wow. Okay. So she had already inherited this. It already been sitting vacant for two years. And what was the difference? Why was it now so what was her answer to that? I mean, was there, I think that’s always an interesting thing to ask is you’re asking, okay, you know that the background behind it’s been sitting there for two years vacant. So when you’re asking her why are you considering selling this, what was her response?
Stephanie: She’s [inaudible 00:08:04] her late husband and his memory and ready to move on with her life because she knew that’s what he wanted for her.
Cody Hofhine: Okay. Okay. So instantly did you set up appointment to go over there and talk with her? What did that look like? How’s the best way that you have found to set those appointments up so you can actually get out there and look at the property?
Stephanie: Okay. Well, the first call, we didn’t actually set up an appointment. It was just very discovery for both of us. Then I said, hey, if you’re comfortable, it’s time for us to meet and we can really discuss how this process is going to work. It took about two weeks to get out there to look at the property, but after we got out there, we clicked [inaudible 00:08:39] well to be there for her, for what she needed and obviously I was going to get what I needed out of it.
Cody Hofhine: Perfect. Perfect. So it took a couple of weeks. There’s no one way and one right way or wrong way. That’s the best part about this is sometimes it’s like you’ve got to get there super quick. This was one that it took about two weeks to be able to get to the property and from there, what do you think is kind of the positive, something that maybe you could tell each one of our listeners? Why do you think that she did business with you? What is it that you do well that makes her want to do business with Stephanie Caseto?
Stephanie: I was completely transparent with her. I told her exactly what was going to happen when we were [inaudible 00:09:18] title what was going to pop up in title, if anything. I mean I would choose. I showed her the numbers and we built a lot of rapport. I think it’s all goes back to building rapport and actually caring about both.
Cody Hofhine: It is. I want to capitalize on that, Stephanie. That is something that everyone listening to this right now, I want to repeat exactly what Stephanie just said. It’s all about building rapport and the thing that Stephanie’s really good at is caring about the individual and not the house. Remember how she just worded that and something that stood out to me instantly when you started talking, Stephanie, is you never said even on this podcast yet, that oh it was a three bedroom, two bathroom. It was a 1980s built. Like you haven’t said anything about the home. Why? Because Stephanie cares about the individual. The byproduct is, if you serve and love and treat those people with respect, the byproduct is, is you’ll walk away with a contract that allows you to purchase their home. But notice that she didn’t go there for the home.
She went there for the seller to serve them, to love them, to see if there’s any way that she could help them out in their situation. And then because she serves and loves and helps these individuals so much, she pulls down a lot of contracts. We’re talking seven deals this year alone in just a short amount of time of $150,000. Why? Because Stephanie gets it. She gets that it’s a service. It’s how do I help these individuals? And kudos to you as I’m hearing this, cause you haven’t even talked about homes really. All you’ve talked about is just people, individuals from the letter and how you’re writing the letter. You’re not talking about the home, you’re talking about them, you’re going out on the appointment, you’re talking about them, you’re seeing how you can make it a win-win. So kudos to you and I want to make sure all of our listeners are writing this down because it’s not about the home. It’s about the seller.
Stephanie: Yeah, for sure.
Cody Hofhine: So take me from there. So you went on the appointment, ultimately, what was the home, if it was all fixed up, what was the home going to be worth? And then what did you put under contract for?
Stephanie: Well, it was actually a land deal. So it’s a builder developer, and-
Cody Hofhine: How many homes did you say could be put on it?
Stephanie: If the homeowner were to buy it – ten.
Cody Hofhine: Ten. Ten homes okay.
Stephanie: Yeah. So if a builder bought it and put 10 homes on it and you know, one acre homes, very beautiful, very good area, or gosh, you know a million plus after that development, the value after building would have been, you know, close to $600,000.
Cody Hofhine: So ultimately when you were going into this, because you have both sides, right? You can sell it to a homeowner or you can sell it to a developer. Obviously it sounds like the developer is a, is a huge play there, which is super awesome. Ten, one acre lots, which would be huge. What does that look like as you started to market to cash buyers? Is this, this is, I know this is where you kind of teamed up now with another tribe member, which I think is so huge. When I hear that you said, hey, I teamed up with another tribe member on this deal. What did that look like? And ultimately what made you team up with another tribe member?
Stephanie: So I really, really, really wanted to help the seller. I knew I didn’t have a buyer for it in my buyers list. So that’s when I started reaching out to other tribe members to see if they had enough eyes that we can get this property sold to get the seller her money so she can move on with her life. So the decision was that, hey, I’m going to do the seller a disservice if I don’t reach out and see how we can work this together to get the seller her money. That’s the optimum goal.
Cody Hofhine: That’s so huge. I love how you’re always going the extra mile, you’re always doing everything you can. Maybe at some point you realize, man, I don’t have a cash buyer that wants something like this, but you didn’t give up. You didn’t go back and just say, hey sorry, can’t help ya. You did everything you could. You went the extra mile. You reached out to another tribe member that potentially could have a buyer on their list that would want this. What did it ultimately look like? What did you put this land deal under contract for?
Stephanie: Okay, so we put it on contract for 138 and we assigned it for 200,000 and-
Cody Hofhine: Wow.
Stephanie: Yeah. [inaudible 00:13:30] a buyer within days-
Cody Hofhine: Wow. Hold on, hold on. You know what’s coming. So we’ve got, you said a $62,000 assignment. You put under contract for 138, you sell it for $200,000 a difference of 62,000
Stephanie: that’s correct.
Cody Hofhine: Holy smokes. Now, here’s the best part about this, Stephanie, is as we’re talking, it was like a win, win, win, right? You’ve helped the seller out. You made some great money. Now with that, this also gives everyone out there listening, and Stephanie and even myself, the power of always making sure you grow a cash buyers list. If Stephanie now can grow her cash buyers list to have just as many as any other wholesaler out there, that deal can now be completely 100% hers. And even though we’re of an abundant mindset, we’re always looking for ways to grow and sharpen our business. And I’m assuming right when you close this you’re like, man, this is a blessing. This is great, but I’ve got to grow my cash buyers list.
Stephanie: Absolutely. We’re actually hiring somebody right now and training them for us and obviously it is one of the most lucrative sides to the whole equation.
Cody Hofhine: I love it cause I think so many people getting into the business or maybe get caught in the trap thinking it’s all about the deal. It’s all about the deal. It’s all about the deal. And the deal is a great part of it, right? You make your money in the purchase of a product, not at the sell of a product. And so it’s the same thing here. Yes, it is a big part of the pie, but if you don’t have the end game, the cash buyers in place, a great deal doesn’t make any sense at all. And so I love that you are hiring someone out to do this. This is crucial to always grow that list. And I love that you’re just right on top of it thinking, okay, I learned this from this, ended up being a win, win, win, but you actually learned something from it and now here you are taking massive action, growing a cash buyers list, well I think is absolutely incredible and why you will continue to see success in your business.
Stephanie: Thank you so much Cody. I appreciate that.
Cody Hofhine: Well, you’re a rock star and you know it. This has been awesome. That’s why I rang that victory bell longer than probably I typically do. So with that being said, if you are starting from ground zero, knowing what you know now and you’re looking back and you’re at ground zero because there’s so many of our listeners that are looking for a new option, maybe they’re looking to leave the nine to five, they’re sick of corporate America or they’re just looking to do this on the side. If you are at the very beginning stages, again, what would you have done different or maybe what would you have done the same if you were just starting?
Stephanie: Okay Cody, I would have hired [inaudible 00:16:11] because even before joining the tribe, I had done a few deals but it was really painful. But after I joined the tribe, it was like boom, boom, boom, boom, boom. Like here’s what you have to do. Step one, step two, step three. What I would tell anybody or telling them myself a few months ago like why didn’t I do this sooner? Why go through all these hoops? And if you work it and grow it, this is a business that could provide you whatever kind of freedom you want. I mean-
Cody Hofhine: That’s huge. That’s huge. That’s another thing to point out is this community is incredible. The tribe is amazing. So I love the fact that you point out and it doesn’t have to be us, but I’m glad you’re pointing it out, that if you were to start over from the beginning it would make sure you got a mentor to just get you there, to get your right to producing revenue and profitability quick, quick, quick. Whether that’s us or whether that’s someone else. I love that. I think that’s key for any business, not just wholesaling.
When it comes to nutrition, it’s the same thing. I would much rather have a mentor tell me exactly what to eat, exactly my workouts that get my body the best results. So mentors are there to help us, the right mentor. And then secondly, if you were to tell or maybe even refer an amazing book, something that has like just changed your life, that if you were maybe at your beginning stages and you’re like, oh you’ve got to read this book, or someone’s stuck, what is a book they could read that you absolutely love and why do you love this book?
Stephanie: Pitch Anything by Oren Klaff, I believe is his name. And the reason why I love this book is because I’m very into sales.
Cody Hofhine: I love this. So Pitch Anything. What is it about Pitch Anything that you love about it?
Stephanie: It’s going from a scarcity mindset to an abundance mindset.
Cody Hofhine: I 1,000 percent agree. That abundant mindset, knowing that we’re all going into the ocean with five gallon buckets. There’s enough water for each one of us. And so I love that. I love that you put that, in fact, I’ve never read that book. That is going on my list as we speak and I’ll be ordering that book. So I always love a good referral. This has been an awesome podcast. I sit here and I look at all the value and at how much knowledge you just shared with people in what is now maybe 22, 23 minutes, right? Like it’s amazing. So guys listening to the podcast, I know it’s like taking a drink from a fire hose, but just take one of these gold nuggets. You don’t need all 50 of them that she just shared or what was shared on the podcast, but there’s something in this podcast I can tell you that you can pull away just one gold nugget.
That’s the value of listening to this podcast. It’s not to implement every single thing that someone’s sharing, but to implement at least one thing. So we talk about Gary Keller from the book, The One Thing, that is why people succeed. Pull one gold nugget from this, something you’re currently not doing in your business. Take that golden nugget and implement it right now starting today and let the action show you what results can take place. So don’t get caught up in this analysis paralysis or overthinking things. Just take one action item and start taking massive imperfect action and watch what takes place in your business. Stephanie, I want to thank you so much for being with us today. There’s going to be a lot of people that are listening to this that are going to be just super stoked. It resonates with them. It’s kind of maybe even is just like their story and this is going to be great stuff. So thank you so much for taking some time out of your day to be on this podcast.
Stephanie: Thank you so much Cody and thanks for the time. I love you guys.
Cody Hofhine: All right, everyone listening today, you’ve listened to an amazing episode that you can download to help us get to a million downloads, but if you’re listening to this and you want to get into wholesaling, go on over to our website. It’s wholesalinginc.com, wholesalinginc.com where you can listen to other stories just like Stephanie’s by clicking on the testimonials tab and look at how many people are just nationwide doing great things with wholesaling and it will inspire you and motivate you to know that you can do this. You can absolutely do this and if you want personal help on building a successful wholesaling business, you can book a time for us and you can get on our calendar to speak with someone on our team and see if we are the right fit for one another. If we like what you have to say, we just might invite you to be part of the tribe and be our next rockstar rhino, just like Stephanie. Until next time guys, keep faithfully listening to the podcast. We thank you and we’ll see you on our next episode. Take care.