Let’s set something straight: while wholesaling can seem easy and straightforward, it can also be challenging. In other words, you can’t expect deals to magically fall into your lap if you don’t put in the work and persevere.
It is reassuring to know however that once you get past the hurdles, challenges, and setbacks, you’ll realize it is one of the most fulfilling (not to mention financially rewarding) businesses you can get into.
Fortunately, today’s special guest is perseverance personified. Bryan Martineau is a hardworking and determined rhino from Salt Lake City, Utah. And while his wholesaling journey didn’t start out perfectly (he had the wrong mindset, his negotiation skills needed work, etc.), he persisted and made things happen.
Fast-forward a few months later and he has closed an astonishing 23 deals and made $350, 000 in assignment fees. Surely, it’s a massive payback only a few industries can rival.
If you’ve been doing wholesaling for months and still not getting the results you are looking for, consider listening to today’s episode a must. Bryan shared so many wisdom, insights, and inspiration that will surely help steer your wholesaling business in the right direction!
- Bryan got a call from a gentleman in Provo who wanted to sell a property he inherited from his dad who passed away.
- He followed the script religiously and got the seller to state the amount he wanted for the property.
- He got the property under contract for $100, 000 and got a $158, 000 offer from a buyer. That’s a whopping $58, 000 profit for his efforts!
- The Book on Negotiating Real Estate by J Scott and Mark Ferguson
- The E-Myth by Michael Gerber
- BiggerPockets Podcast 176
- Wholesaling Inc Testimonials
If you are Ready to Explode Your Wholesaling Business, Click here to Book a Free Strategy Session with me right now!
Subscribe to Wholesaling Inc
Cody Hofhine: Welcome to another episode of WholeSaling inc. This is Cody Hofhine and I will be hosting today’s podcast episode and I’m super excited to be doing this episode, especially because this individual that we’re going to be interviewing is right here in my own backyard. An amazing wholesaler and there’s going to be so much value, so much liquid gold, as we’d call it, that is going to be delivered on this episode. So each and every one of you listening to this podcast today, I want you to really take out a piece of paper, take out a pen and get ready to jot down some gold nuggets that you can take action on and implement in your business today. Today we have Bryan Martineau from Salt Lake City, Utah. He’s married, has two children, and here’s the good thing, listen to this. Since September, this guy has done 23 wholesale deals, which is absolutely amazing.
We’re going to be deep diving a deal that is going to be a great assignment fee that they are able to make, but we’re going to deep dive, more importantly, the mindset of, here we are when everyone thinks we’re in a hyper competitive market of Salt Lake City, Utah, there’s a ton of wholesalers. So there’s going to be just so much value. So get ready. Bryan, my man.
Bryan Martineau: Hey.
Cody Hofhine: How the heck are you brother?
Bryan Martineau: What’s up Cody? How’s it going?
Cody Hofhine: Dude, let’s break this down. Things are going well. My smiles from ear to ear and I’m talking about your introduction. 23 deals since September. My man talk to me.
Bryan Martineau: Wow. Yeah. Well… Hey man, first of all, thanks for having me on. This is a big honor to be talking to you, but yeah, so where do we start? Where do we want to start?
Cody Hofhine: Well, catch us up. Give us maybe fill in the details a little bit of what got you into wholesaling in the first place and then maybe share even like the reality of the real struggles even that went through and how you were able to overcome them and now here you are doing 23 deals in the last handful of months.
Bryan Martineau: Okay, cool. Yeah. So I was working for the university of Utah right here in Salt Lake in the hospital and the hospital field of things. I was working as a endoscopy technician making about $18 an hour. And so an endoscopy technician that someone that assists gastroenterologists with colonoscopies and it was just not the greatest kind of job for somebody like me. But I remember it was 2017, my wife and I were getting our taxes done and she was pregnant with our second child and I pulled up my w two for my earnings for 2016 and it was a little over $30,000 for the family, for my earnings for that previous year. At that point I had this aha moment where I was like, Hey, I am not going to be able to support this family or you ever have the freedom that I want if I’m going to continue this job.
Cody Hofhine: Wow.
Bryan Martineau: So anyways, I started kind of a… yeah. Anyways, I started a looking into wholesaling and actually before that I was looking into real estate. I had joined a course here to get my real estate license and anyways, I started listening to some podcast and stuff like that to kind of get me going in that direction. Because I kind of knew that I had a couple of friends that were getting into a real estate that got the real estate license and they were buying some rental properties and stuff like that. I was like, hey, I want to do that. So anyways, I started listening to some podcasts, came across, it actually wasn’t a Wholesale Inc podcast. It was Bigger Pockets and a Tom Krol was on there and his energy and you know what I mean? You know what I’m talking about, right?
Cody Hofhine: I always say like a caffeinated beverage that you just dropped on the ground and it’s ready to explore.
Bryan Martineau: Exactly. No, it was. He was very different. I mean, I had been listening to podcasts everyday the on the train ride to work and… but this one was different, like how he made, I think he did a hundred deals in his first year and it blew my mind about how this guy was doing so well and these… like I didn’t even know what wholesaling was really, how you were able to buy a property and resell it for a lot. And I was like, you know what? I think I can do this. If this guy can do this, I can do this.
Cody Hofhine: So true. Say that with a laugh. But everyone has said this to Tom and Tom takes this with a smile when we say, man, if this guy can do it, I can do this.
Bryan Martineau: Yeah. And I don’t mean that with any disrespect at all. It’s just…
Cody Hofhine: Oh just take it disrespect. He’d be laughing with you right now.
Bryan Martineau: No. Yeah, no, and that’s the thing is it was something that I felt like, hey man, I can do this. If he can do it, I can do it. You know?
Cody Hofhine: I love it.
Bryan Martineau: So anyways, I looked him up online and I joined the course and I thought, okay, sent out my first mailer and nothing happened. So you know what I mean? So I was like, okay, so I’m going to start doing what they told me and I did the whole course and I was struggling for my first few months, honestly. Like I didn’t really have the right mindset. I was more in this competition thinking, well maybe Salt Lake’s just too saturated. Maybe I should go out to Boise, Idaho or Wyoming or I was just thinking that the grass is greener on the other side, so…
Cody Hofhine: Well, tell me more about this because, here you say like, I want to know the… this is what people need to be prepared for, right when they get into wholesaling is it’s not all unicorns and rainbows. There is a lot of hard work that’s put into this. It’s not easy. It’s simple because the processes are simple, but it’s not easy. So how real was this? Did you feel like your not being able to do deals or do you think it’s more of just you were your own worst enemy, you were in your way or did you really feel like it was the market that was putting a constraint on you?
Bryan Martineau: Initially it was, initially I thought that. Initially I was like, hey, you know what, I was sending out like $800 worth of mail every single month and I wasn’t getting anywhere. I was struggling. I was like, man, maybe this isn’t the right thing for me because here I am making 18 bucks an hour, I have another child on the way. I just barely got… I was completing my real estate license and I was just like, I don’t know if I can afford this, I don’t know if I can keep going on.
Anyways because I had the wrong mindset, that there’s just no deals here and I wasn’t really hunkering down and I wasn’t sharpening my negotiation skills, I would just kind of like, this is what I’m supposed to do and this is how it’s going to be done. And I wanted it to just be easy.hI wanted it to be easy, but it wasn’t, it wasn’t going to be easy. Everything that was telling me was like, Hey, you either you’re either are going to have to get some grit and do this, whatever it takes or you probably will maybe just have to go back to your old job. [crosstalk 00:07:38]
Cody Hofhine: So much value. So much value Bryan, cause I’m sitting here thinking how many times maybe people are thinking, oh this is easy, like they hear the good story, right, of maybe even this deal or we’re going to be talking about today, but they hear this good story. They’re like, oh man, I’m going to do this. But it’s tough. It’s absolutely tough.
Bryan Martineau: It’s kind of an interesting, it’s easy, but it’s tough. It’s easy in the sense of like, here’s your steps now do them and then you get out there and you’re like, well, I kind of don’t want to really talk to this person. You know, like, I don’t know. I don’t really know what to say. And you think these people are just going to completely trust you right from the get go and it’s just going to be there and it’s not. You’ve got to do your reading. You’ve got to do what it takes for yourself to make the deal happen. If that makes sense.
Cody Hofhine: Yeah. Yeah.
Bryan Martineau: Whatever it takes.
Cody Hofhine: I love it. I love it. If you want life to get better, I always quote this as Tony Robbins. If you want life to get better, it’s you that has to gets better. If you want life to change, it’s you that has to change. And ever since I’ve heard that, I’ve always thought, man, if I want something to change or if I want something to get better, it’s me that has to change. It’s me that has to get better. And every time I do that, voila, the magic sauce starts to happen.
Bryan Martineau: Of course. Yeah. So anyways, a few months went by and I wasn’t getting anything done and come August, I remember I even like messaged you on Facebook and I was like, Cody, Hey man, help me out. I’m going to keep calling you until you call me back. You’re right here in my backyard. Give me some secrets. Give me some, you know what I mean? So anyways, I was kind of feeling a little bit desperate. Anyways, one day I don’t know, do you want to keep going? Should we just keep going with my story or…
Cody Hofhine: No, I love this because this is now during the time that you’re having a second child and and now it’s on time. It’s like, I’ve got to do something.
Bryan Martineau: Yep, exactly. So that’s what happened. That’s kind of where the story leads. August 10th, our second child is born and my life all of a sudden completely change because the first thing is that my wife was no longer going to be able to work. I mean like, we were able to kind of make it… manage it a little bit with kind of using my in laws as babysitters so that my wife could work but two children, there’s no way we can ask them to do that anymore. And babysitting is just as a crazy amount of money. So anyways, I’m like, okay, there’s got to be something that’s going to happen or we’re going to lose our house and we’re going to… so I was kind of freaked out, a lot of sleepless nights and anyways, then come one day I was like, hey, you know what? We have some money in savings… I was talking to my wife and I was like, we have some money in savings.
I am just going to do this or we’re going to die. We’re going to make this happen. So anyways, I was like, I got to figure something out. I can’t really afford this marketing anymore, so I’m going to start reaching out to some people to see if they can help me out. So I remember that a buddy of mine, Clay Rockwood, we met up at the summit here in Salt Lake.
Cody Hofhine: Tribe member.
Bryan Martineau: Yeah, he’s a tribe member and we met up here in Salt Lake and we had kept in contact and about August, I reached back out to him and I was like, hey, what’s going on? Actually he reached out to me, we kind of almost reached out together at the same time and we ended up going to lunch. We went to lunch and we decided that, hey, we might be a good fit for each other. Because he had like three businesses running and I’m like, you know what, if you can do the marketing, I’ll do all the leg work and I think we got something good going on. So anyways, we decided to do that for a while and we ended up meshing really well together and we ended up being… at first, it was a 70,30 split but then you know as as we got our first few deals and in line we ended up deciding to be 50,50.
Cody Hofhine: Man so, so good.
Bryan Martineau: Partners and we upped our marketing and so that’s kind of what happened man. It was kind of one thing after another and here we are today, we made a little over $350,000 since September of last year.
Cody Hofhine: Wow. Bryan, my man, like I already want to ring the victory bell but I’m going to… you’re going to get it two today okay. We’re going to do one for the… hold on. My man so already out of the gates… here’s what I love about this story so far. Like your back is up against the wall. You don’t know what to do, but you still keep pushing. Rhinos keep charging and you meet up with Clay, you guys partner up, you show each other the value that you have together. And here you are now doing incredible numbers, by the way, and the number of deals you’ve done since September is just amazing and 2018 is going to look bright for you. I just love this. It’s perseverance at its best.
I love hearing this story because sometimes we do better when our backs against the wall when it’s like, Aw man, it’s this or nothing like I have nothing, no other choice. This is all I can do. And look what you did. You found the way to make it work, and I absolutely love this story. This is already amazing and for everyone listening, it may not come easy, but I’m telling you, if you will get past the little hurdles, the little trials, the struggles, the challenges, it can be one of the most rewarding businesses that you can ever be a part of. Would you agree with that, Bryan?
Bryan Martineau: Of course. Yeah. No, I totally agree. 100%.
Cody Hofhine: okay, well let’s deep dive a deal. Let’s give them the no fluff, no BS zone. Let’s go right to the meat and potatoes of this deal. We’re going to be talking about one where it’s a huge assignment. I’m going to save it for the very end, Bryan will share that. But let’s deep dive where this deal came from in forms of what marketing channel were you using? Maybe what list were you going after and how did this phone call sound?
Bryan Martineau: Okay, sure. So let me see if I can remember, that was actually our second deal. Yeah, let’s see. Okay, so it was back in September. Yeah, it was like our second deal that we had. We get a phone call from a guy down in Provo, so a neighboring city to Salt Lake and… oh, and then just to back up a little bit. So we were spending around 1500 to $2,000 a week. We get this phone call from a guy and this older gentleman and he said, I just inherited a property from my dad who passed away. And so it was me and my two other sisters, we own this property and we would just like to cash out. And I was like, okay, well tell me… follow the script, whatever and tell me the condition of the property.
Told me they haven’t touched it in years. His nephew was living there and his nephew is moving out and it has old shag carpet and it just needs a lot of work. So beforehand I had already kind of ran a little bit of comps in the area and homes in the area were selling for around 210 to 220 so I had a ballpark estimate of what the ARV was going to be. And anyways, following the script, I knew I needed to get it out of him because also at this time, I had just barely read a book called The Book on Negotiating and Real Estate. This is amazing. Love that book. I’ve read it twice now and it’s awesome for anybody that wants to sharpen their negotiation skills, getting the best discount.
But anyways, I was talking to the guy and I was like, hey, I think I just think his name was like Roger or something. I said, hey Roger, what are you looking to get on this property? If I can pay all cash, all the closing costs, no realtor, commissions. And he’s like, I don’t know. I mean, you tell me you’re the expert. I was like, well, I’ll just be completely transparent with you, Roger. I mean, if you were to put the money into this property, fix it up, to put all the work in and time and effort and energy spent, you could probably get around 220,000 for this property, 210 to 220. And he’s like, well, here’s the thing is I don’t want to fix it up. I just kind of want to be done with it.
And I was like, all right, well if that’s the case, tell me, Hey, what’s the property worth to you? What do you want for it? And he said, I don’t know, how does 100,000 sound? I was like uh…
Cody Hofhine: Did you say 100,000? Is that what he said?
Bryan Martineau: He said 100,000 yeah.
Cody Hofhine: Wow.
Bryan Martineau: Wow. I don’t know. Still being an apprehensive, I’ll have to take a look at the property and make sure it’s something that we want to pursue. But inside I was jumping up and down cause I knew it was going to be our second deal and I was like, all right, it’s already kind of ringing the victory bell in my head. Anyways, I was like, you know, I’ll meet you at the property today. Let’s see what the property looks like. So I drove down there, he met me at the property. He did and he did a lot of work. Probably, maybe it’s like 50, $60,000 worth of work. But he walked me through the property and it was completely… a lot of junk left behind by his nephew. A lot of… an RV home, lawnmower’s broken down everything in the yard and he was going to be a lot to clean up.
But then I said, look Roger, and this was in the book on negotiating real estate, it says to always ask for a concession, even if it’s a good deal. Then I remembered that at that moment. And I said, hey Roger, I’ll tell you what, you want $100,000 for this property. Correct? And he said yes. And I said, all right, I’ll tell you what, if you can clean out all of this garbage, get it all cleaned out for me. I think we can make that happen. And he said, okay, I think we can do that. So he ended up cleaning all of the garbage out and cleaned it all up for me. And it was an empty shell ready to go. We got to start showing.
Cody Hofhine: Ready to go. Clean slate, clean gambit for the painter.
Bryan Martineau: Yeah, so we blasted it out to our cash buyer’s list. Just started shooing clean canvas for the painter. Yep.and we got an offer at 158 and that was our second deal.
Cody Hofhine: Whoa, my man. So let’s ring the victory bell. So you put i under contract for 100,000 and then you send it out to cash buyers. They make an offer of 158 for a $58,000 assignment. Is that right?
Bryan Martineau: That’s correct. That was our second deal.
Cody Hofhine: All right, so Bryan, so much things that I have to hurry to recap real quick because you shared so much good knowledge right there that everyone needs to make sure they are writing this down. So first and foremost, he’s on the phone with the seller. They’ve just inherited the home. So probably went through probate or it was just maybe something like a trust sale. But regardless, on the phone, they don’t want it. And Bryan did a perfect job here. Just listen to him and he could tell instantly they wanted to get rid of it. They no longer wanted it. It does need a lot of work. And here was another good point that I want to point out and that is he waited for this gentleman to say his price. We always talk about he who says the price first loses. And so Bryan did a great job.
And here’s another reason why I love you, Bryan, is you are a truth teller and a truth seeker. Right out of the gates he tells this gentlemen, listen, if you did all the fix up, you did everything, you could probably list this home around $220,000. So many times I get the question from a lot of individuals saying, well, what do I do? Like do I go in there and then I’m just going to… do I just lie to him and tell him that this is going on, this going on. I’m like, no, you never lie. That’s the best part is you be a truth teller. So just like Bryan said, he went to him with the truth. He’s told them this home is worth 220 if you fix it up. And because he told the truth, listen, he still got the deal. The guy says, I don’t want to fix it up, that’s more than I can handle.
And he says, okay, so tell me what do you want for this home? And he says, I don’t know, probably like a $100,000. I love that you did that. And then first of all, when you got the price, you didn’t just go with it. So this is so much value, Bryan, and I know you know this, but I want to make sure our listeners are listening to this. You didn’t just say, okay, $100,000 see you there, let’s sign it. No, he went out there apprehensive, went through the property and then still asked for concession. Listen, if we could have this all cleaned up and all gutted, yes, I think I can make $100,000 work. It makes it a complete win-win at this point because now of course feels like they’re getting something from each side. So I absolutely love this Bryan, and I hope each one of you wrote down the value that was behind that whole entire role play with this gentleman that sold his home for $100,000 to Bryan.
Bryan Martineau: Yeah, and that’s the thing, Cody, just backing up a little bit. I highly recommend the book on negotiating real estate. It’s a game changer. It was a game changer for me.
Cody Hofhine: Who’s the author of the book?
Bryan Martineau: I actually don’t remember. I can look it up really fast, but I don’t remember honestly.
Cody Hofhine: We’ll pull it up, we’ll put it in the show notes forum.
Bryan Martineau: Sure, yeah. But I was talking to the guy and and ended up being… on the book it says ask for concession. Always ask for concession even if it’s a good deal and, okay, that’s what I was going. So he was saying, well you tell me you’re the experts. So like yes, I’m a real estate agent. By this time I was able to look up comps and pull comps very easily and you can give them an accurate, truthful answer about what I believe it would be worth after it’s fixed up.
At which point I could have then just said, listen, I’ll give you $160,000 and at that point we didn’t have a very big cash buyers list and I honestly felt like we could probably have sold it for like 170 now, 175 maybe with our bigger cash buyers list. But at the time we had like 183 people. But anyways, at that point I left 60 grand on the table. But after having read that book and after your modules and everything that I learned, try everything you can to get them to say the offer first. And that’s what I did. So I would’ve just left 60 grand on the table. I maybe would have made five grand as an assignment fee and that would have been the end of that. But I knew that I had to get him to tell me a price first. Does that make sense?
Cody Hofhine: I love it. This is exactly how you should have done it. I mean, this role play, this deal that we just talked about was structured perfect and you did an amazing job. And that’s why there’s so much value for our listeners because that’s a learning curve. Those are some things that takes maybe two, three, four, five, six, 10 deals down the road before you actually start catching on to how you need to go in there and negotiate with individuals, and you just shared all of that value to all of the even beginning listeners that are just here for the first time, learning about what wholesaling is out of the gates. They’ll know, man, that makes sense.
So incredible, incredible, incredible job. And ultimately a $58,000 payday to you, which is absolutely amazing. You’ve got 23 deals since September, the future looks bright, you’re staying consistent. If you were to maybe tie it up in a nutshell here and give some of our new listeners, maybe people that are just getting into wholesaling or people that haven’t really put much thought into it, if you were to speak to them and say, hey, if I was doing it all over again, I would make sure that this was in place or I would’ve done this. What would that have been?
Bryan Martineau: Yeah. If I were to start over again, I would, I think I did it perfect, no, just kidding. I think that it definitely… You got to go into it knowing that you yourself have to do what it takes to make it work for yourself. Does that make sense? Like for some people, if they’re very good at social media and you also kind of got to find your strengths and what you’re good at. If that’s the route that you want to take, then totally just take that route and crush it and just do everything that you can to make it work. And I love what Brent Daniels, in his modules he says, start your day as zero and you got to mentally and I have to do this still even though we’re doing pretty well, you still have to come into the office and tell yourself, hey, you got to almost kind of put yourself in a mindset of like, there’s zero dollars in the bank, you’ve got zero deals, zero deals under contract, and start with that.
Because if you really do have that mindset, you’re like, as I did when I started back in August, or when I was going broke, I needed to make it happen or I was going to die, I was going to go broke. So if you can truthfully have that mindset to make it work for yourself, then you’re going to make it work. So I think that that’s, I don’t know what I would say, that’s basically the advice I’d tell anybody that’s starting out now. Like I see people that still have their comfort job and they still want to just kind of maybe dabble their toes and in this whole thing in wholesaling or real estate or whatever they want to do and they’d never really make it work, you know?
Cody Hofhine: Dabbling doesn’t get it done.
Bryan Martineau: So I feel like if you’re going to do it, figure it out how to do it, and get it done, whatever it takes.
Cody Hofhine: Agreed. Agreed. Now it sounds like you already threw out a great book, but maybe that will be the book you’re saying, or maybe you want to add another one to it, but if there was a book that would help individuals, maybe a book that has inspired you, helped you become a better person or be a stronger wholesaler, what book would you recommend to our listeners?
Narrator: Well, so I just barely finished the book. The E-Myth, I don’t remember. I’m bad with who authors are.
Cody Hofhine: Michael Gerber?
Narrator: What’s that? Yeah. Michael Gerber, correct? Yes. I love that book because it applies directly in the stage that I am currently in my business, you know? So now we’re in the scaling stage of my business where we have an acquisition manager, we have three cold callers, we have two virtual assistants and it’s all kind of… the book is perfect for those that are kind of in the next step of their wholesaling career. I would definitely recommend the book for the book on negotiating and real estate. You have to start with that one. But once you start scaling up and you kind of got the system going, the E-Myth is perfect. It definitely deep dives how you are able to or what you need to do in order to scale your business correctly and efficiently and to the best of your ability.
Cody Hofhine: Love it. Love it.
Bryan Martineau: So, that’s my book
Cody Hofhine: Bryan, my man. I want to thank you personally for being on the podcast today. You’ve done an amazing job and delivered so much value for those that are just getting into it and quite frankly those that are doing a ton of deals can learn so much from this. So I want to thank you for taking your time. I know you are busy at work and you are going to be crushing it the rest of this day and the rest of this week and the rest of this year. So from me and Tom personally, thank you for being on this podcast and delivering so much value to our listeners.
Bryan Martineau: Hey, thanks Cody. I appreciate it. Yeah, you’re awesome too. Thanks man.
Cody Hofhine: All right. Tribe and Rhino Nation. We’ve just done another amazing episode where Bryan has showed us step by step how to negotiate deals and how to overcome mindset and how to just put, when your back’s up against the wall, how you just got to go out there and just make things happen. You’ve got to take massive action and things start to work your way. So if you’re new to this, again, remember it’s all about taking action. If there’s anything you can learn from this episode, hopefully you wrote down a bunch of gold nuggets, but one of the big ones that I love is his perseverance, his action, action, action. As he took that action, he found his way into becoming a very successful wholesaler. So if each of you want to go over and look at, download this podcast, is going to be coming out. You can definitely do so and also go through our testimonials.
You’ll see people all over this country that are doing this, so go to wholesalinginc.com that’s wholesaling I-N-C dot com. Click on the testimonials tab and it will inspire you and motivate you to let you know that you can do it. There’s people all around here doing it in your backyard and all across this great nation and if you need help building your personal wholesaling business, you can book a call with our team and we will be glad to speak with you and give a free strategy call with you and if we like what you have to say, we just might invite you to be part of the tribe and tell next time Rhino Nation. We’ll see you on the next episode. Take care. God bless.