Today’s phenomenal guest started wholesaling just January of this year. However, what makes his case unique is he does business in Florida while currently based in Bronx, New York.
While he has a partner in Florida who helps make things happen, his story is a testament to one of the most amazing wonders of wholesaling—you can successfully score wholesaling deals even if you live in another state, area, territory, or county.
Joaquin Rosario is a creative and determined wholesaling newbie. The newly married tribe member lost his corporate job in October of 2017. After hearing Tom on BiggerPockets, he decided to give wholesaling a go. Although it took 60 days before he found his first deal, the reward he got was well worth the wait.
If you are having difficulty finding your first deal, consider listening to today’s episode a must. You’ll surely learn a lot of wisdom and insights you can use in your own business. More importantly, you’ll also discover the power of the proactive approach and how you can make it work for you.
- Joaquin launched his first marketing campaign in the middle of February by sending direct mails to the people on the tax delinquent list. However, rather than just waiting for a reply from the mails he sent out, he decided to use the proactive approach.
- After securing the high equity absentee owner list and banging the phone from 10 a.m. to 01:00 p.m., he finally found a motivated seller.
- He was able to secure the contract for $40, 000, sold it for $70, 000, and was rewarded with $30, 000 in assignment fee. Definitely a massive reward for being proactive!
- Wholesaling Inc Wholesaling Summit 2018
- BiggerPockets Podcast 176 with Tom Krol
- TTP Cold Calling
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Brent Daniels: Hey, it is Brent Daniels and I want to start this podcast off with a healthy dose of gratitude. I am so incredibly grateful and thankful for everybody that is downloading this podcast and listening to this podcast and implementing it into their business. It is incredible. This podcast has just hit over a million downloads. I mean that is absolutely bananas and it is all because of you. And I want to say thank you so much. I mean we work really hard to deliver the best, realist, rawest, most authentic information available. It is incredible that we have such a loyal fan base and a loyal audience and you guys are just unbelievable. I want to make sure that you guys all know and are all at our event in Asheville, North Carolina. It is October 15th through the 17th this is a small event.
There’s only going to be 300 people in the room. I’m going to be there. Tom Crowle is going to be there. Cody Hofhine going to be there. The room is going to be filled with absolute superstar killer. Just unbelievable seven figure a year businesses just surrounding it to network with, to talk to be around, to just enjoy the beautiful place that Asheville, North Carolina is in October. Remember that’s October 15th through the 17th so if you have not registered for that event, it is wholesaling summit 2018.com. Do not hesitate. Do not think about it. Get on there, register, I’d love to see you, I’d love to meet you, I’d love to talk with you because that’s what we do baby, we talk to people.
So, I’m excited. I really wholeheartedly hope to see you there. But let’s get to the reason why I am standing up in front of the microphone and not sitting down at my desk. Okay. I have got an incredible conversation that we’re about to have with a phenomenal wholesaler that lives in one area. Lives in the Bronx, New York, and does business in Florida. Okay for everybody out there that is thinking about doing business in a different state, a different area, different territory, a different County. You need to tune in and really listen and take as many notes as you can because I’ve got a phenomenal conversation coming in your way. With that, it is my absolute pleasure to introduce Joaquin Rosario. How are you brother?
Joaquin Rosario: Hey, what’s going on? Thank you for having me on the show.
Brent Daniels: Yeah, absolutely. It is absolutely our pleasure. Let’s start, tell me about you, tell me about your business.
Joaquin Rosario: Yeah, perfect. A little bit about myself is as you mentioned, Brent, Joaquin Rosario currently reside in the Bronx with my beautiful wife. We actually just recently got married back in October 2017 so really excited about that and-
Brent Daniels: Congratulations.
Joaquin Rosario: Thank you. As you mentioned, I’m currently residing in the Bronx and wholesaling in Florida with my business partner. His name is Louis, so he’s the boots on the ground in Florida and he’s the one that’s meeting with the sellers, meeting with the buyers. He’s really the meat and potato and I’m over here in the Bronx really cranking the marketing stuff and the remote task.
Brent Daniels: Got it, let me ask you this. How long have you been doing it? How long have you been wholesaling?
Joaquin Rosario: We started in January of this year, 2018.
Brent Daniels: Beautiful.
Joaquin Rosario: A little backstory on that. Louis and I had partnered up back in July 2017 to actually do a flip in Florida. He was going to project manage that while I was going to provide the capital for it. So yeah, we’ve dabbled with that and made a ton of mistakes towards the end of it. We came with a thousand dollars profit on that flip and we really looked at the business and said to ourselves, where do we really want to take this? What do we really want to do with this? Back in October 2017 I also lost my a corporate job. I was working for a fortune 500 technology company, lost that job and in December, Louis and I really got on the phone with the tribe, really understood the process and we went up and running on January 2018
Brent Daniels: Beautiful, And then how did you get introduced to this business? I mean out of all the things that an entrepreneur can do with their time and their energy and their efforts, how did you find wholesaling and what kind of introduced you to it and how’d you take your first steps? We’ve got a lot of listeners on this podcast. They’re getting ready to get started, to get going to get… Start finding some opportunities, they have a passion, they kind of found wholesaling inc or this podcast. How did you get into this business?
Speaker 1: Yeah, all the credit there goes to Louis. He was in the real estate game for a while. He was a real estate agent. I recently just got my license over in New York, but he really introduced the idea of wholesaling and when December came, we were really looking at it as, okay, so we can definitely do this. We can get the marketing strategies out and get the ideas out. And I did come across a Tom pearl’s podcast on bigger pockets [inaudible 00:06:55] a lot of our research initially, and man I tell you the energy Tom provides and the whole tribe, it’s amazing. So we really had a discussion and said, “Hey, we can cut our learning curve down by six months or we can launch this and do a deal in six months and it really took us 60 days to get our first deal on the board, but-
Brent Daniels: Come on, 60 days?
Joaquin Rosario: 60 days.
Brent Daniels: So you joined the tribe, right? You joined the wholesaling inc tribe and you started taking action. That’s obviously through the mentorship, through the calls, through the modules, through the training, through the downloads, through everything that you get in that program. I mean, it’s the absolute best in the country. It’s hands down, nobody else competes, it’s not even close, let’s be honest. You started that program and in 60 days, how did you find your first deal?
Speaker 1: Perfect. We started the program step-by-step following, we went through all of our gut check moments where we really questioned, you know, are we going to be able to do this? And mid February we launched our first marketing campaign and that marketing campaign was a direct mail campaign with a tax delinquent list. We had about 6,000 people on the tax delinquent list that we sent out. Louis and I we’re very self aware. We were like, “Hey, are we just going to sit here and wait for these calls to come in or are we going to take some sort of massive action in another way.” The beauty of it is that the tribe, it has all the information there. We had read about cold falling, dabbled that and in the forums it says get a module dialer, pull up a list, skip trace it, everything is there.
It’s all about us taking action. So at that time what we did was we said, “Hey, let’s go ahead and get ourselves an absentee owner list. High equity absentee owner list.” We sent that over to skip trace via the recommendations that you provide, Brent, on the forum and plug that into our module dialer and as the mailers were hitting, we were banging on the phones looking for opportunities. That’s really how we came across our first deal was we sent out the mailers, we waited for those calls, but we were also proactively on the phones every single day, 10 to one banging on the phones and we came across a motivated seller
Brent Daniels: Talking to people, TTP. You picked up the phone, you went proactive, you weren’t waiting around for the business to find you. And I’m telling you guys, everybody, this is the way, this is the… The market is so wild right now. It’s kind of like on fire right now with so much potential and being able to get first to those home owners, to those sellers before they even think about starting to call on marketing and picking up the phone, reaching out to them, being proactive like Joaquin. Yeah, I mean it’s just incredible. So you got the phone numbers right? And you got a module dialer you were calling and tell me about the sellers. So you had called and how was the first conversation. Were you… Well first of all, let’s pull back a little bit. How were you when you first started making the calls, were you tentative? Were you scared? Did you have procrastination? Did you have perfectionism? Did you have paralysis by analysis? The three Ps that stop us from picking up the phone and making calls. Did you have any of them?
Joaquin Rosario: Definitely did.
Brent Daniels: I know.
Speaker 1: It’s a killer. At first we were like, “let’s work on this marketing list instead of getting on the phones. Right.” And we would just come up with tasks that we would have to do to a avoid actually getting on the phone. And I go back to just being self aware and I had a conversation with my business partner and I told them, I was like, “are we playing business here or are we going to get really cranking on this because we haven’t been picking up the phones.” And that was the game changer for us. We’re like, “Hey, let’s lock this time in 10 to one we’re on the phones, no questions asked. There’s nothing else to be done in that time period but getting on the phones.” And we were able to consistently do that and I tell you it’s unbelievable.
Brent Daniels: Yep. Yeah, it absolutely is and you hit on a beautiful point there. The beautiful point is time blocking for being proactive because creative avoidance will creep in and steal all of your time. You’ll start shuffling papers, you’ll start talking about title and escrow work and putting together the best lists and what’s the best postcard and what’s the best business card and what about a website and what about dropping voicemails or dropping text messages. All these things that are passive. What we’re talking about is being proactive, setting aside time in your schedule to use your voice, your talents, your skills, and reaching out and providing value and that’s exactly what you did. Tell me about that seller. What problem did you solve for that seller?
Joaquin Rosario: Perfect. So it’s so funny because when in the modules we’re calling on for sale by owner and we understand what motivation is and you guys say it the best, you’re going to know when somebody is motivated and you have them on the phone and it was just that I was on the phone, went through the script and right away he was like, wow, you called at a perfect time. So I got into obviously getting to know a little bit more about the property. I was able to get the details about the property. It needed some love. That was a good indicator right away. It needed some love in the kitchen, the bathrooms but really the motivation was his stepdaughter lived in the property with the boyfriend and they weren’t paying any rent.
Brent Daniels: Classic. It is Yeah.
Joaquin Rosario: Any time that he would go into the property, she would even call the cops on him and say get out of here. You’re not welcome and it was his property also the property was about 45 minute drive and he was having to pay all the utilities on the property. It was just becoming a burden to drive 45 minutes, get the cops called on him and the stepdaughter not even letting him into the property and not paying any rent. Right away I saw that as an opportunity, I saw that as a huge motivator for him to sell us the property.
Brent Daniels: Got it. And did you have any difficulty having a really good conversation with them being that you’re in a totally different state? Does it matter?
Joaquin Rosario: No, it doesn’t matter at all. It’s funny because he’s actually from Brooklyn, New York. I was able to connect to him at that level where I told him, “Hey, I’m here in the Bronx, my business partner, he’s on local in Florida.” And he was like, “Oh, I’m actually going to be in Brooklyn.” Because that’s where he’s originally from. So it was a great way to connect with him on that level.
Brent Daniels: And what script did you use to cold call him?
Joaquin Rosario: So at that time I wasn’t part of the TTP program and we can get into what we did next right after the deal. We were using the callback script that [crosstalk 00:14:21] that’s what we were using to actually land this deal.
Brent Daniels: Love it. You made a connection and then what did you buy the property for? What did you put it on the contract for?
Joaquin Rosario: When we went through the questions with him, we said, “where do you have to be at? We’ll take the property as is with your stepdaughter in inside. You don’t have to worry about her.” He was at 45,000 we evaluated the risks about unknowns of taking the tenant. And we went back to him and we said, “we need to be at 36 five”. And he replied back and he said, “I can’t do anything lower than 40”. We were like, “okay, no problem. We can do 40.” I sent the contract that Friday to him and gave him the weekend and gave him a followup call on Monday. He told me, I just have one more person to call and just kind of discuss it with, and had the contract signed back at 40,000 on Wednesday.
Brent Daniels: Beautiful. And did you send it to him in the mail? Did you email it? Did you send them with like e-signature?
Joaquin Rosario: Yeah, we did an e-signature. A DocuSign e-signature.
Brent Daniels: Beautiful. What did you sell it for?
Joaquin Rosario: Perfect. Before we even get into that a Brent, it was so funny because with the tenant that was in place that wasn’t paying, we actually went to her and spoke to her and just said, “Hey, we’re buying the house. We’re actually going to need you guys to find a new place.” And they were super happy, they were like “oh no problem. We understand.” So you can see that the problem there was internal with the homeowner and the stepdaughter more than anything, but we were able to get our buyers out there and we sold that, we assigned it over for $70,000.
Brent Daniels: 70,000. So how much did you make on it?
Joaquin Rosario: $30,000.
Brent Daniels: Yeah, buddy. I love that. So you made 30,000 on your first deal?
Joaquin Rosario: 30,000 on our first deal and I got to tell you, it’s truly unbelievable. We, sit here and we look at it and we’re like, wow, this is truly unbelievable.
Brent Daniels: And by the way, you pulled that out of a cold call, you pulled it out of thin air. Right? I mean, it was one conversation that you had with the guy that turned into… I mean, obviously you had more after that but that initial conversation was worth $30,000 from picking up the phone and being proactive and not letting all these other things distract you. All these creative avoidance just knocking you down and stopping you from picking up the phone. You were proactive, you picked up the phone, it paid off, you solve the problem, you were able to take this huge financial burden off of this owner for sure, and in the process make $30,000 I mean, unbelievable. Just incredible. I love that. I just love it. I love when people take action and get paid for it. I love when people let their talents and their skills and their conversation and everything that’s led you up to this point to be able to have those conversations and you get paid on it. I mean, it’s just beautiful. It’s beautiful.
Joaquin Rosario: So it’s amazing. It’s truly amazing that the best decision, you know, after being in a situation where I really had two choices, do I and get another job at a telecommunication company or do I really do what I love and really give it a push and a try and just lead with faith.
Brent Daniels: I love that. Absolutely. And that’s what we need in this. I mean there are times when it is so tough and it is dark and you doubt yourself and you have fears and you have worries and as you just push through all those things and you fail forward and you start building some traction and you start building some success and you start stacking the winds on top of each other, then all of a sudden you start getting that momentum and things start rolling downhill and then you just keep it up. You just keep moving, you keep taking action, you keep talking to people, you keep providing that value day in and day out and things just… I mean, your life changes.
Joaquin Rosario: Yeah.
Brent Daniels: Right?
Joaquin Rosario: Yeah.
Brent Daniels: I mean it just changes.
Joaquin Rosario: In my entire life. I never saw a check for $30,000 and it’s unbelievable. We know it’s out there.
Brent Daniels: So then after then, how do you go from that to keep moving forward?
Speaker 1: Yeah, so the first thing that we did was we got on a call with the tribe once again and we were like, Hey, you know what? What’s this TTP program all about? We want in and we went and we took massive action when we signed up for the TTP program with you, Brent. It’s exactly what we did. We want to perfect the skill to be able to get on the calls and not procrastinate and be able to do all those things. We went and took massive action. Signed up for the TTP program right away.
Brent Daniels: Love it. I mean, you wanted a PhD in, in doing this business and cold calling and keeping the most amount. I mean, the fact is your costs for that deal is minimal compared to what some of the costs are for other marketing and being able to keep as much money. Let’s be honest, what you signed up for is because you want to make a seven figure a business out of this and you want to keep as much of it as possible. So you joined the TTP program because that’s what we do. I mean that is what the whole program is for. So I’m just so excited to see you guys take an action and being involved and constantly and consistently picking up the phone and talking to people. It’s incredible.
Joaquin Rosario: It’s amazing, man. I have to tell you, like I said, all the support… As soon as we got on the TTP program, all the support, we were like, “this was a no brainer.” Like the script got even better. We were like on our first call, Brent, we got off and me and Louis were talking and we were like, “wow, this is exactly what’s going on with us right now.” So it was definitely a no brainer for us.
Brent Daniels: Yeah, and it’s great you guys are just… So tell me what your daily schedule looks like now? How do you implement the TTP and run your business and run it from the Bronx and do business in Florida? I mean, what is your daily schedule look like?
Joaquin Rosario: Yeah, so we’re still time blocking 10 to one. So Louis and I, we get on a morning meeting call around nine to nine thirty at 10 to one we get on the phones, no questions asked. Right after one we do our followups and Louis. He’s actually the boots on the ground. So he’s going out on the appointments, he’s working with the buyers and we’re scheduling all the appointments in the afternoon so that he has the time to time block from 10 to one. On the other hand, what I focus on is I’m doing all the remote tasks. So our marketing lists, right now have a VA and those are things that we are going to migrate into but right now I’m doing all the marketing stuff. I’m doing all the remote tasks, I’m coordinating with our lawyer, our title company, coordinating with the buyers. I do all of those remote tasks but very important to lock in that 10 to one to make sure that the pipeline continues flowing.
Brent Daniels: Hundred percent it is all about consistency and the only way to do that is you have to remember that that is money time. That is the time… I mean, if you break down the amount of time that you spend making calls versus the amount of money you make on it, some people are making $1,000 an hour or $2,000 an hour. It is incredible how much, if you look at it that way you could put a stack of hundreds on your desk and just pay yourself as you’re making calls. You know what I mean? Like it literally is that, I mean, it’s just money in the account. Every time that you get on, you’re being proactive and you’re reaching out and you’re talking to people. I absolutely love that. Joaquin, if you had any advice for somebody that maybe they’re struggling right now or they’re thinking about getting in but haven’t done their first deal, what advice would you give somebody that is trying to get that to get what you have?
Joaquin Rosario: Yeah. It’s all going to come down to taking massive action Brent, because at the end of the day, you can sit there and really play business, try to get the perfect marketing list, try to read all the blogs, try to do everything but if you don’t take massive action, the deals are not going to start flowing in. Once you start getting on the phones, taking massive action, you’re going to start seeing that the pipeline is filling. You’re going to start going out on appointments and you’re going to start talking to people every single day and everything’s going to add up.
Brent Daniels: Got it. And you had mentioned that you guys do a morning call. How important do you think that just connecting on a daily basis is with you being in one spot, with you being in the Bronx and Louis being in Florida. How important is you guys touching base every day.
Joaquin Rosario: Yeah, it’s super important because as we all know, the entrepreneurial life, it’s a roller coaster every single day, right? So you have your downs. The beauty of getting on a call every day is that we hold each other accountable and we also inspire each other. When I see that Louis is maybe having a tough day I go in and I inspire him with the books that I’m reading, he’ll do the same with me. So it really gives us the opportunity to kind of see where we’re at for that day and really inspire each other to go out and be more.
Brent Daniels: I love it. Well Joaquin it’s so much… I mean there’s a lot of people out there that are just starting out and you had just started out at the beginning of the year and you’re already… It’s just incredible and I think that people have this pilot light inside of them that they want to get out of their corporate job or they want to get out of their hourly job or they want to do business for themselves. They want to be an entrepreneur, they want to be able to have their schedule back, control their time and I think that you’re just a shining example of when you take that risk, when you jump off, you’re out there, there’s no strings. You’re just working hard and diligently and being proactive. It can and will work. I think that you’re an inspiration for a lot of people out there.
Joaquin Rosario: No problem. Thank you very much.
Speaker 3: All right guys. Well that is Joaquin Rosario and in the Bronx. You can certainly reach out to them through Facebook, I’m sure. Right? Is that the best way, Joaquin if people want to chat with you?
Joaquin Rosario: Joaquin Rosario on Facebook, you’ll be able to find me right away.
Brent Daniels: Beautiful. I love it. And if you want to join the most proactive real estate investor, wholesaler group in the country then you have to sign up for a call with my team at www. Wholesaling inc/TTP. That’s wholesaling inc/.com/TTP. Get on a call with us. Anything that you’re going through, whether you’re doing a ton of business or you’re barely doing business or whatever it is, if you’ve got that hustle, if you’ve got that drive, if you want to be proactive, if you’re sold on the idea that your skills and your abilities and your voice, it should be making you money, should be giving you freedom in your schedule and setting up a business and a future and buying assets and going crazy in this world than get on, sign up for that. We will get you on the phone and we will rip and run. It’ll be amazing. Thank you again, ton of gratitude for everybody listening to this podcast and until next time I encourage everybody to talk to people. See you.