Posted on: May 31, 2018

Have you been putting in much time, effort, and resources in your wholesaling business but still not getting the results you are hoping for? Are you currently facing challenges related to wholesaling that you don’t know how to resolve? How do you gauge when you should deviate from the wholesaling SOPs that are in place? You’ll get an answer to these questions and more in today’s show!

Today’s special episode is part 1 of a 2-part series designed to help you determine where you currently are and how you can take your wholesaling business to the next level. If you’re not a member of the tribe yet, you’re in luck as today’s show will give you a glimpse of what a coaching call with Tom is like. In addition, you’ll also get step-by-step instructions on how to access an awesome new list you can tap into.

If you are looking for expert wholesaling guidance, insights, and advice, this is one episode you can’t afford to miss!

Other Key Takeaways

  • The ideal time you should spend on the phone to get the results you are looking for
  • The recommended format when it comes to bandit signs
  • The smoking hot way to find deals you might have overlooked
  • The importance of letting your attorney know how you want to market the contract you are selling
  • The SOP when it comes to selling a house/contract and when you should deviate from it

RESOURCES:

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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Episode Transcription

Cody H: Hey guys, welcome to another episode of Wholesaling Inc, the only podcast that teaches you how to wholesale real estate step-by-step. And I am super, super pumped for today’s episode, which is part one of a two part series. But why I’m so excited is that you get to listen in on a recent coaching call with Tom and a few of his students and you get to be a fly on the wall as he walks them through some pretty challenging situations in and around their wholesaling business. One of those things being, what do you do when you’ve hit a wall in your business, when you’re not doing as many deals as you would like to be doing? What do you do when things just aren’t going according to plan? Tom shares exactly how to get past that point. And Tom also shares a brand new smoking hot list and he literally takes you by the hand and shows you step-by-step how to pull this list. You’re definitely not going to want to miss that. And bandit signs, are they dead? Do they still produce deals? Do they work? He’ll be talking about that on today’s episode.
And why would a real estate agent rather bring you a deal than listed on the MLS? He’ll be sharing three reasons why an agent will bring deals to you rather than listing them on the MLS and what you need to do to make that happen. So that’s all on this episode. So enjoy part one of the episode.

Tom Krol: Okay guys, it’s two o’clock Eastern. So good afternoon to the East Coast. Good morning to the West Coast. It is great to be on the line with all you guys today. We are going to have a blast today. Remember that my obligation to you is revenue in first position. You paid good honest hard earned money to be in this program to make money. That’s what we’re hee for. So we are going to focus on that today. We’re going to do some really good, there’s still a lot of people pouring on the line here, guys, so just bear with us. But we’re going to go ahead and get started, but we’re going to make two important announcements today that I am really excited to share with all of you guys and really looking forward to having today’s call and looking forward to it all day. So let’s get started.
So number one most important is with the theme of keeping revenue in first position. Remember you bought this course not to feel good but to get to instructions to make revenue, right? So with that in mind, let’s talk about a new list. This list will be posted in [inaudible 00:03:24] in the forum, but I’m going to tell you how to pull it because it’s super duper easy. So here is what it looks like.
The list is going to be called, actually I’m going to pull it up here right now. I haven’t created the video for you guys yet, but it’s going to be called unknown resident. Now what this means is, let me give you guys a little backstory. You guys have kind of, some of you, I can see, some of you who’ve been on the line a few times, you’ve heard me talking about this new list called unknown sale date. Now what’s great about these upside, I call them upside down lists and what’s so great about these upside down lists is what we’re really trying to do is we’re trying to find people in our communities who have not been contacted before.
So what we want to talk about is, we want to try to focus on our list of people who may possibly be motivated who haven’t been contacted previously. So we came up with this in some of our masterminds, some of the ones that I’m involved with, some people had suggested this one called the unknown sale date. The reason we were so hesitant to release it to the entire tribe was that yes, it’s a good list, but it was so expensive to mail. The reason it was so expensive to mail is because you had to pull the known sale date for every single person in your county and then you had to pull every property in your county and suppress against that list. And needless to say, that’s extremely expensive. Thousands and thousands and thousands.
So our tribe is super blessed. You guys know that. There’s no doubt about it. We have a super awesome guy, Rhino. His name is Chris. He’s a tribe member. I won’t give out his last name just in case he doesn’t want us to, but he had made a suggestion to try the length of residence and what is so great about that is it works, it actually provides the data from the unknown sale date. It will save you guys a ton of money and I am going to tell you how to pull that list right now.
Now, this call by the way, guys, is recorded, but I know that a lot of you are Rhinos and I know the super Rhinos was the thickest skin and the singular charging of one thing attitude are going to hop off of the support call and do this right now, so I’m going to make it really easy for you.
What you’re going to do is you’re going to go to list source, you pull your normal geography. Some of you guys on geography do the whole county, others of you do hot zip codes. Whatever you do, continue to do, that’s fine. Then you go to the property tab and you pick out your standard property type, which is for most of us, almost all of us, should be single family residential and then some you do duplexes and triplexes and quadplexes and things like that and some of you actually do land. I don’t know if this would work for land, so I would just keep this for the houses.
Then what you do is under that same tab, the property tab, you go to length of residence and what you do is under this left length of residence dialogue box, there’s an option box, select unknown and add that list. That’s going to give you a lot of the unknown sale date. It’s not a hundred percent match, so it’s not a hundred percent match, but it’s very, very, very close. It’s very, very, very good data.
So I would strongly recommend that anybody who’s on the line right now who wants to get a jump on this thing, if you don’t have a question, there’s no reason to sit on the support line. The support line really, I’m happy to answer any questions but don’t hang out on the support line. I would rather see you go towards revenue in first position. Go and pull that list now. If there is a question on how to pull that list, it’s star two. If I see any hands go up right now, I will answer those questions first in case somebody wants to pull that list right now. That’s it guys. It’s really, really super simple. You go do list source, you pull your normal geography and then under the property tab, you pull your property type and on the length of residence, you pull unknown.
It’s an option that is available to all of you guys and by the way, I just see a few new people getting on too, that I don’t recognize here. If you do have a question on this line guys, to raise your hand, it’s star two. Star two. So a big thank you to our tribe member, Chris.
He is a rock star and a great Christian man of God also, let me just say that which is even more inspiring. He inspires me the all the time without even knowing it. So good stuff.
Number two is I want to talk about some other really exciting news and I do see there was a hand raised here while I was on this. So let me just, I will get to you guys in two seconds and I will answer those questions about that list. But I also want to tell you about the next Wholesaling Inc. Summit.
So I know a lot of people on this line have been to our summit. You guys, these are amazing summits. They are by wholesalers for wholesalers, 100% laser focused on building revenue in the wholesaling business, either getting your first deal or getting your next deal or building a wholesaling job into a wholesaling business. It’s the best of the best of the best. Many, many millionaire people go there who have made millions from wholesaling, people who are doing, lot of heavy deals per month. Many deals, high volume, high price points, high profits. So get there if you can. The next one is going to be in Asheville, North Carolina. It is going to be at the peak of the color season. We specifically did that to have the most beautiful surroundings in the mountains, but close to Ashville downtown. It’s called the Omni Resort and Spa. I think is the name of it or an Omni, and I might be saying that wrong, but it’s the Omni Hotel.
As soon as the website for the summit goes up, I encourage anybody who’s interested in going, do not wait, sign up immediately. We had tons of people trying to get into Orlando, literally to the point of having the Fire Marshall not allow us to add any more people to the hotel. So we had to have the hotel manager call us and it was a nightmare. So we expanded this one. We’re going to allow in a few more people, but we want to keep it intimate. So as soon as it comes out, it’s going to be in beautiful Asheville, October 15th right at the peak of this fall color season. It’s going to be a blast.
Tons of restaurants at the Omni. So we’re all going to, we don’t have to leave the campus if everyone just kind of wants to hang out and anybody who was in Salt Lake City or Orlando or even [inaudible 00:09:35] for the first one we had, you guys don’t know, I stick around the whole time from morning till night, I’m totally available. The whole team is totally available to you for one on one and we give you guys as much possible time as humanly possible and that’s why we want to keep it small. So if you’re interested as soon as it comes out, sign up Ashville, October 15th, a North Carolina Omni Hotel, or Omni Park Inn. I know I’m saying it wrong. So super excited about that.
Let me unmute someone here. Hey Jesse, this is Tom. Can you hear me okay?

Jesse: Yeah, I can hear you.

Tom Krol: Okay. Something just might be wrong. Some other person might have their phone.

Jesse: Yeah, I can hear you just good. I can hear just fine. How are you guys doing? Hey Tom, I just wanted to get back on on listening to you guys. We started the TTP for around with Bryant and that okay we’re just getting adjusted to being able to, stay consistent with our hours that we’re calling and just building up that pipeline.
But I think, with that being said, I like to just get back on the small [inaudible 00:10:32] campaign to have at least some deals coming in because I think it’s been a while since we’ve put anything under contract and that’s where we are now. We’re just going to remain consistent. And so I know that you-

Tom Krol: Well, I’m glad I called on you. Yeah. So let’s talk about that for a minute because it sounds like you’re a little down and I know you guys have done deals and we’re rooting for you guys here. So I know you guys have done deals. So are you finding that when you made the switch to TTP, is it just like, are you having, because I know that TTP Ts great, but I know it’s a bear. TTP, you really want to be doing about three hours per day and no more than that because otherwise you get burnt out super, super quick. How many hours do you guys go in a day on TTP?

Jesse: Today at the very most we’re doing one hour a day and maybe that’s no good.

Tom Krol: That’s not enough.

Jesse: That’s not enough.

Tom Krol: Let me tell you what one hour is going to do. One hour a day is like death by a thousand needles because you’re not going to get a deal and you’re going to be working hard and getting frustrated. So you hear how you sound right now? You sound exactly the way you should sound of a guy who’s only doing an hour a day TTP. So you’re right where you should be. So here’s the thing, I’m not here to, I don’t to like make you feel good. I want to be here to get your results. You’ve got to do three hours a day to TTP to make it work. Otherwise it’s not going to work because I want you to think of this for a minute from like 50 feet, right Jesse. So think about this from 50,000 feet, okay?

Jesse: Okay.

Tom Krol: I want to send out through direct mail, let’s just say I want to send, I want to get a deal, right? So I can personally about 5,000 pieces of mail per week. Everyone always asks me, how much per week? It doesn’t mean anything because my territory, every territory is different. But I personally ended up on five K per week. Now I want you to imagine for a second, if I was doing that and I had TTP, right? And let’s just say I sent out 5,000 pieces and I got two deals. Let’s just say, right, okay, right? Now let’s just say of those two deals, let’s just say just, we’ll keep the math simple. Let’s just say I got a hundred phone calls. So think about TTP. And by the way, for anybody on the phone who’s new at TTP is just, it’s kind of like an affiliate program or affiliate coach that we have. Brent Daniels who’s awesome, and he just stands for talk to people. It’s about cold calling.
So what happens is, in order for you to get the same results as me, you have to make 5,000 phone calls. But you’ve got to go through 4,900 people to tell you to go pound sand, right, just to get the hundred people where 90% of those people are going to tell you to go pound sand just to get the 10 people who are going to be somewhat interested and send a contract out to you and just to get them to deal. So the problem is if you’re not making enough calls, then what happens is you’re just like, you’re never hitting those numbers. So it’s really like you want to do no more than three hours, because you don’t want to get burnt out. And you don’t want to do any less than three hours because you don’t want to have death by a thousand needles. Does that make sense?

Jesse: That makes perfect sense. Absolutely. Yeah. Thanks for calling my name and I mean, things happen for a reason.

Tom Krol: So there you go. So listen, you know I love you. I definitely, I will never forget what you told me in Orlando. Life-changing. Awesome. I appreciate that. So let me say this to you. I’m telling you now, I would get off this phone and I would go make those phone calls today. Let’s not delay. If you want to listen to like boring support calls, you can always listen to this recorder. I don’t know, whenever you’re driving. I mean they’re pretty boring, but whatever gets you excited.

Jesse: I know you’re right.

Tom Krol: But let’s hang it up.

Jesse: Hang it up. Let’s get some calls in. You’re absolutely right.

Tom Krol: Now let’s go get a deal and then send me a video testimonial tomorrow. Say, Tom, you told me to get off the phone call and then I found a $60,000 deal. That’s what I want to hear.

Jesse: I will. All right. Nice talking to you. Bye bye.

Tom Krol: All right guys, and we have, let’s just see. I want to make sure. Okay, I have somebody in Ohio, a 513 number.

Garth: Tom, it’s Garth. Is this me?

Tom Krol: Hey, Garth, how the heck are you?

Garth: I’m doing well. How are you?

Tom Krol: I’m doing great. It’s good to hear your voice. How can I help?

Garth: I’ve got a couple of questions. I’m going to be doing my first bandit sign campaign. I’m consistently doing deals. I’m closing two on Friday. I’ve got a big one closing on the 23rd so I’m rocking and rolling there, but I’m wanting to find more deals and I was hoping I can find out from you, if you have a recommended bandit sign format of what to say on it for a motivated seller?

Tom Krol: Sure. Great question. Here’s what I would say. First of all, I don’t typically use them a lot. I live in a place called St Lucie West, which they’re not legal. They are legal in some areas of Port St Lucie, but not really. It’s like in a grey area, so I don’t do them. So I personally don’t have too much knowledge. But your resource is going to be Bill Rafter in the forum. So I would post that question in the forum and I can guarantee you there will be some people who can say, “Hey, this verbage, this color.” They’ll tell you who the best vendor is and all that. By the way, congratulations on doing so many deals. That is awesome. How are you finding your deals right now?

Garth: Three different ways. Direct mail, SEO, I’m a carrot member as well, like you. I’ve been for about a year and a half. And also just through networking, one of the deals that I’m closing on Friday, one of my realtor buddies just called me up and said, “Hey, I have a deal for you.”
And what’s cool about that one is obviously there’s no marketing costs in it. And I’m actually giving him $500 more than what he would make if he just sold it himself. So I’m trying to incentivize him to bring me more deals.

Tom Krol: Right. Now I want every single person, yeah, I want every single person on this call. Now I know not everyone’s going to hear this, but there’s a lot of people on this line. I want every single one of you guys to stop for a second. And I want to ask you guys this question right? And Garth is going to know the answer to this.
I want to say number one, agents are a smoking hot way to find deals. Now Todd [inaudible 00:16:30] , has a program called Agent Deal Domination. And can you make a note? I want to put a link to Agent Deal Domination in the course. We’ve got to do that because we talk about this so often, it’s a really super inexpensive little product. It’s a channel on how to find deals through agents. Now here’s the question that Garth is going to know the answer to. I want everyone to understand this. And here’s the question you guys, why would a real estate agent give you a deal instead of putting it on MLS? What is the incentive for the agent? If somebody goes to an agent and says, “Hey, you know, I live next door to you. I’m getting a divorce. I’m thinking about selling my house, right?” What is the incentive for the agent to call Garth and say, “Hey Garth, before I put this home on MLS, I want to kind of give it to you as a pocket listing.” Why would the agent do that? So Garth, you tell us what is the reason? What’s the incentive for the agent to give you, to bring you a pocket deal or a pocket MLS listing?

Garth: Well, there’s three. [crosstalk 00:17:21] Number one is one is I asked him flat out how much he would make on the listing and he told me 1000 bucks and I said, “Well, I can do better than that.” Number two, he knows it’s easier. He spent literally 15 minutes on this deal versus showing it hours and hours and hours. And then lastly, I just spent the last couple of years cultivating a relationship with him. So he’s been wanting to help me. But it’s really more importantly those first two items. It’s more money and ease.

Tom Krol: I totally and ringing the beautiful shiny victory bell. And here is what I want you guys to hear. The way a real estate agent gets paid is that a real estate agent gets paid for first putting a property under contract. That’s the first half. And then the second half is if they can bring the buyer. But what happens almost all the time is that they put 123 Main Street under contract and then another agent brings the buyer. So when you can be that cash buyer, when you can be that real estate investor, the agent is super happy because they’re double dipping. They’re getting both sides of the deal.
So now I can guarantee you that if somebody calls up Garth’s agent and says, “Hey Garth’s agent, I live next door to you and I’m thinking about selling my house and I want to get out fast, I’m a motivated seller.” Do you think that Garth’s agent is going to call Garth again? 100% yes. 100% yes, so, Garth, I love it. I love it. Very sexy man. I think that’s really awesome.
And you guys, if you want to know more about that, it’s very simple. You don’t even really need the tool, but if you are really interested in and want to learn more, there’s something called Agent Deal Domination and just make a note of that. We got to put them in the course. But bottom line is you just cold call agent, 99 and a half of them, you’re going to say, I’m looking for a good deal. 99 and a half of them are going to tell you you’re crazy. There’s no such thing as good deals anymore. That was in 2008. They don’t exist. And then one out of every hundred or two are going to say, “Well yeah I have my neighbor. It’s funny, you know you should say that. My neighbor was just telling me she was thinking about selling her house. They had tenants. And that they destroyed it.” And then you say , “Great. Well if you represent me, I need you to be my advocate.” The only thing to watch out for with this guys, is that a lot of agents will say, “Okay, okay, Garth, I’ll start sending you everything I have on MLS.” You have to say, no, don’t send me anything. Once it’s on MLS it’s too late. I want a good deals. I want pocket listings.
So you guys, this is an awesome channel that if you’re looking for a free channel, because you can get agent’s telephone numbers from anywhere. If you want a free channel that’s super effective, Garth, how much money are you going to make on that deal?

Garth: It’s a thinner deal, but I’m proud to say it’s still going to be 12 grand.

Tom Krol: I love the fact that 12 grand is a thinner deal considering this as combined household income in America annually is like 53.

Garth: I know.

Tom Krol: Wholesaling is the best way to make a fortune in the shortest amount of time. I love it. So God bless, man. That’s awesome. Well, good job. I mean I really love that. I love it. Agent agents are a great source for motivated sellers. And remember, guys, no matter how much marketing we do, no matter how many postcards you send or phone calls you make or Facebook ads you put up, people in this country are trained to call real estate agents from the time they are born when they want to sell their house, whether they’re motivated or not. So if you can get one or two or three dozen agents in your town who are committed to bringing you deals when they’re pocket listings, that is phenomenal.
So awesome job, brother. Anything else or is that, I like that news.

Garth: A couple things. So I would say that the agents that have been around a long time, so this agent is actually 65. He’s been in real estate for 30 years, so he knows everybody. So sometimes the older agents can be more profitable for you because this guy literally knows everybody. So the fact that I’ve made a relationship with him, it’s like now I have my fingers in all these different houses down the road, and the fact that I’m going to be giving him, I’m doing lunch with him on Monday and I’m going to deliver his check. The fact that he’s making more money easier, I know that he’s going to be looking for other deals that we can do together. So I would throw that in there.

Tom Krol: But go ahead. No, no, go ahead. Go ahead. I love it. I totally agree. I totally agree. So keep going. I don’t want to interrupt you.

Garth: So the other thing is, this was my first deal that I did per your course as far as selling it where I sent it out with MailChimp. I did the text messages, I called 80 buyers. I got 12 people through. I got four offers. So I’m pretty excited about that. But I have a couple of questions relating to that process-

Tom Krol: Okay.

Garth: … on selling houses and question number one is I’m ramping up-

Tom Krol: I want to stop you right there because you’re saying selling houses. Are you a real estate agent?

Garth: I apologize. No, I misspoke. I mean, well this one I’m actually buying and selling but yeah, I’m selling the contract.

Tom Krol: Perfect. Okay. So I just want everybody to hear that. Remember guys, as wholesalers we are, and you always want to run dispositions, which is the selling of the contract or the house if you’re an agent or if you’re buying the property. But you always want to make sure your attorney is 100% aware of how you market that contract for sale because there’s different regulations in every state and you have to make sure you’re doing it right. So go ahead. I don’t want to cut you off, but I just didn’t want to let that go.

Garth: No, no, no. And that was a good point and I apologize for misspeaking there. So question number one, when I’m ramping up and you start doing a lot more deals, let’s say five to 10 a month, how do you, obviously, at least in the past, what I’ve done is when I’m trying to sell my contract to a buyer and let’s say I have two houses under contract, I’m going to sell one before the other, but once you get to the point where you’re starting doing more volume, how do you manage that while not having your buyers go, “Well, I’m going to wait on this house. I’m going to go to that house.” Do you understand the question?

Tom Krol: I understand it totally because I had to deal with exactly. This is an awesome problem to have. This is a great problem to have, right? So what I do is I would only sell one contract at a time and then what we would do is we would, and I know this sounds like a manual process, but let me say this, I don’t care if a process is manual or if it’s automated through a tool like a software tool, because as long as I’m not doing it, I don’t care. So in this case, my virtual assistant was doing this and what we would do is we would physically remove, we would block that email and at that time we were sending out text messages as well and we would remove them from the list so that that buyer will not be interested in that second contract.
The reason is because once you have, remember with wholesaling, you’re a pawn shop, right? So a pawn shop means that somebody comes in to sell you a Rolex and they’re going to sell it to you for $300, right? The benefit that you bring to the table is speed. [inaudible 00:24:13]. Now that person selling the Rolex, he knows or she knows that they can go to eBay and post pictures and wait 10 days and get the money, but they don’t want to wait 10 days for the auction for the best price. They want cash to today. What happens is as soon as you have a property under contract, you want to start concreting in that deal right away. For instance, we have the title company call, “Hi Sally Homeowner, we weren’t sure. Where do you want us to send your cash? We’re getting ready to buy your home. Should we send it in to which bank account and do you want cash or do you want a check or do you want to come pick it up or should we mail it to you?” Because in our mind is the deal is already done and we want that to be the same way in the seller’s mind.
If you send out a contract for sale and then immediately send out another contract of sale, what you’re going to do is, even if the second deal is crappy, you’re going to put a delay into the process with that, with that buyer. I hope I’m kind of going fast here so I hope everybody understands what I’m saying. But basically what I’m saying guys is if you already have a buyer, if you bought a house and now you’re trying to sell it, you don’t want to try to sell that buyer a second house or give him even exposure to that second house before he’s already closed on the first one.
The reason is even if it’s a bad deal, the buyer’s going to have second thoughts. He’s going to get into comparing the two properties or the two contracts depending on what you’re selling.
Here’s the problem. As soon as there, if you ever heard this where people will say in marketing they’ll say, “Don’t give people a choice because it delays the decision.” The problem is as soon as you give them a choice, even if one deal is not as good as the other, you will absolutely delay. So we used to physically go in and remove the email and telephone number from the text and the email blast and that seemed to help because we did run into exactly that exact problem. We would have a buyer who’s getting ready to buy a contract or in our case, the house, and then all of a sudden there’d be like this huge delay because now they were having second thoughts and wanted the inside track on the second deal and this and that and it’s no good.

Garth: Okay. I’ve got another question on selling deals. So this deal, I felt like if I would’ve just sold it the way I sold my other 35, 40 deals, which is just reach out to some of my buyers and sell it. This one I felt like I could sell for 24 or 25,000. I ended up selling it for 27 which is great. And I wonder if there’s ever a time where it doesn’t, it’s not where the hours of calls and emails and follow ups and going to the house to sell a deal if maybe the is not the greatest deal and/or just like a little bit different. Does that make sense? I mean, is there ever a time where I should use this process?

Tom Krol: Yeah. So let me say a few different things to you about this. What Garth is asking guys is the standard operating procedure on how to sell a house or how to sell a contract, and when to deviate from that. I’m going to give you a few ideas to think about.
The first thing that I want to say to you is first of all, from 50,000 feet, the less variables you have, the better. Because every time you’d have multiple variables for an exit strategy, the more difficult that process is going to be to delegate to somebody else. And the problem with that is you’ll make a lot of money, right? Like you already are I mean, 35 deals is phenomenal. I hope you gave us a video testimonial. You darn well better have, because that’s amazing, right? But here’s what I’m going to say is that the more you do more deals, right, the more that process becomes, you have to be more of an expert to know when to make a pivot from the process that’s in place, right?
So think of McDonald’s, right? Why is McDonald’s so successful? Well, McDonald’s doesn’t pivot, right? They have numbers on their menu. They have 24 year old workers and there’s a picture of a cheeseburger on the cash register. So they don’t have any decision makers, right? Even the manager is on a sheet, right, of when he cleans the bathroom and when this happens and when that happens, right? So the less decisions you can make, the less decision makers you have to hire, the more of a business you have that will run without you, that have a job that you are a servant to. That’s kind of a 50,000 feet.
Now, let me say this, if you have a deal where you’re going to make a lot of money, the bottom line is, and I don’t want to complicate or confuse anybody, but the bottom line is you’re almost always better off wholesaling that deal to a retail buyer, and what that means is you get the cash. Someone in your position is not going to have a hard time getting cash and you get the cash, you take the property down and you put it up with an agent who’s giving you a super, super discounted rate, half of 1% of 1% or something like that. But that’s always your best bet.
As far as any other deviations other than that. And what is that number? I don’t know, but it’s probably around 20,000 but besides a deviation from that, the only time I would say there’s some times of deviation is if you have a house that is just absolutely wrecked, right? It’s a complete [inaudible 00:29:07] tear down. Like we were in a house, it was a few years ago and I can tell you that the only way I can describe the smell in the house was like low tide. I don’t know how else to explain it. And there’s just no way. So, I just think that there are some specialty cases where you have a particular person on your list who you know for sure this is a perfect fit. I hate to say that too because it’s also another case of, you don’t want to have too many deviations from your standard operating procedure. But if you have a standard operating procedure that says, “Hey, if there’s more than 20K on this deal, we’re going to take it down and sell it on MLS through an agent on retail.” That’s a really easy thing to do. You don’t have to, you know what I’m saying? You don’t have to, what do you call it? Because if you’re going to make 20 on an assignment, you’re going to make 30 on a net profit, 30 on a retail at least, at least.
Don’t forget on MLS, I don’t care how many cash buyers you have on your list. You have 10,000 more on MLS, no matter where you live. Do you know what I’m saying?

Garth: Yep. That’s awesome.

Tom Krol: So that would be, that would be my advice.

Cody H: Okay, so that concludes part one of this two part series and I hope you really enjoyed it, but more importantly, I hope that this episode gave you some clarity on where you are in your wholesaling journey and how to take that to the next level. Now, in the next episode, Tom goes really, really deep on the idea of having partners in this business and whether it’s a good idea or a bad one. So see you on the next episode.

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