If you’re a new listener to the podcast, it is likely that the amazing things you’ve heard about wholesaling has brought you here. In addition, it is also highly likely that you’re here to check for yourself if all of the amazing things you’ve heard about are true.
Fortunately for you, the phenomenal story of our guest today is the exact proof you need to turn you into a complete believer.
Ryan Johnson is a full-time music pastor from Dallas, Texas. The loving husband and doting father of 3 was into buying rental properties before deciding to do wholesaling on the side. The impressive numbers prove he did the right thing—3 deals in just 6 months and a staggering gross profit of $158, 000!
What’s even better though is there is a way for you to duplicate the success he is enjoying. Listen in as Ryan breaks down from start to finish how he pulled off a feat as epic. So many mind-blowing wisdom, insights, and gold nuggets in this episode, you better have a pen and paper handy!
- Ryan found his prospect from the tax delinquent list he pulled straight from the county records.
- He sent out direct mails and from there found a motivated seller who wants to get rid of his property so bad.
- After building rapport, helping the seller with his concern, and sorting everything out, he was able to purchase the property for $100, 000.
- He listed the property for $210, 000, got an offer of $230,000 and eventually walked away with a net profit that’s just a few dollars shy of $123, 000. Definitely a massive revenue for someone who’s not even doing wholesaling full-time!
- The Surrender Experiment by Michael Singer
- The Go Giver by Bob Burg
- Wholesaling Inc – TTP
- Todd’s episode on how to talk to a motivated seller
- Wholesaling Inc Summit 2018
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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Tom Krol: Ryan, how the heck are you, brother? Welcome to the Wholesaling Inc podcast. We are going to have a great adventure today. I hope you’re ready.
Ryan: I am ready, man. Very excited and honored to be on the podcast, for sure.
Tom Krol: Well, good. We had a little technical hiccup when you first got started, so I’m just going to start recording right now. I’m already there, so I hope you don’t mind. We’re already going.
Ryan: Love it. Let’s do it.
Tom Krol: Let’s just dive right in. Ryan, I understand have an amazing story, and I’m so honored to have you on the podcast. I know you just got started I guess in wholesaling. I’ll tell you what. You tell me the story. Let’s tell everybody who you are, where you’re from, and a little bit about how you made it on this podcast, because I know it’s been an excellent journey, and really exciting. I hope you don’t mind. I am really going to hold your feet to the fire for some details.
Ryan: Love it.
Tom Krol: Let’s just dive right in and get started. Sounds good?
Ryan: Okay. [inaudible 00:02:00] That’s sounds great.
Tom Krol: Sounds good. We’re going to get started right now with Ryan, because I had a little technical hiccup on the beginning of the podcast with the recorder. We’re just going to dive right in. I haven’t spoken to Ryan, any preparation on this call. We’re just going to go for it. Ryan, shoot.
Ryan: [crosstalk 00:02:16] Love it, man. Let’s do it.
Tom Krol: You do it, brother. Do your thing. What do we got?
Ryan: Yeah. My wife and I are from the Northside of Dallas, and we’ve been married about 14 years, have three beautiful kids. I am a full-time music pastor at a church here on the Northside of Dallas.
Tom Krol: Woo!
Ryan: Love it, man.
Tom Krol: I love pastors. We have so many pastors who have so much success in our wholesaling tribe. As a matter of fact, Chris Galanos, he’s the pastor of the fifth fastest largest growing church in Texas.
Ryan: That is awesome.
Tom Krol: Yeah. You guys should connect. You’re both in Texas. I don’t know exactly-
Tom Krol: What town he’s in, but he’s another pastor, and he’s crushing.
Ryan: Yeah, I’m writing that name down right now. That’s awesome.
Tom Krol: If you look him up, he has one of the fastest growing churches in Texas. His name is Chris Galanos. He’s in Texas. I don’t know what city, but he just sent me a text, and he’s now doing $100,000 a month, or he just did his first $100,000 a month. He did it all through a team. He didn’t see any of the houses himself, so we could talk more about him in a minute. Go ahead. I didn’t want to interrupt you, but go ahead.
Ryan: Yeah, man. My wife before we started having kids had been working on a stock brokerage firm and financial investing firms. We really got disenchanted with the stock market, and when we started having kids, and she stepped out of that industry to be a stay-at-home mom. We wanted to put our money somewhere other than the stock market, and so we had lived off of just one income for several years. While, we had two incomes coming in, but no kids, both working full-time, so we had some money set aside.
Ended up over a few year buying four rental properties, and really loved it. It was a great thing for us. If you know anything about the Dallas market, it has gotten super hot in the last few years, and so we were having a hard time finding more deals to turn into rentals. I bought my last two properties from wholesalers and in that process was like, “Holy smokes, I’m on the wrong side of this equation here.”
Tom Krol: I love it. I love when landlords come into the program to be a wholesaler. They’re saying, “Why am I paying this guy $20,000 for every property on top of the price?” Yeah.
Ryan: I was realizing I was buying these things, and by the time… The last property I bought, it was one where you went to the property, and there were 21 other investors there trying to buy the house. We ended up being the highest bidder. I’m sitting there going, “Either they know something I don’t, or I just really overpaid.” It turned out to be a good deal for us, but still I was just like, “I can’t imagine how much these guys are making.”
It was a double close so I couldn’t see it, but I knew they were making money.
Tom Krol: Yeah. Newsflash, everybody who’s listening. Wholesalers make the most money.
Tom Krol: I should just say when you are wholesaling, you guys, and I should just say, when you are wholesaling, you guys, for anybody who’s brand new listener if you don’t know what this is, and I had no introduction on this podcast because we had a little hiccup in the beginning with the recorder, my name is Tom Kroll. I’m a number one wholesaler coach in the country. It’s an awesome, exciting thing. And what is wholesaling? Wholesaling is a way to continually find discounted properties, just essentially becoming a millionaire by finding discounted properties and turning those deals for huge quick profits. We are not rehabbers and we actually make the most money in the room. It’s a really great, all fantastic way to make a fortune in a short amount of time. So go ahead. Right. I’m sorry. I should’ve did that in the beginning.
Ryan: Yeah, it’s tremendous. So basically we decided, we needed to start, sourcing our own deals. And initially the idea was just to be able to find properties that would fit our rental portfolio. So Tom, I’d heard that so many of the tribe members had heard your interview on bigger pockets several years ago and started listening to the Wholesaling inc podcast. And, and I really, um, I looked at three or four different wholesaling coaches, including a couple locally. And then just at the end of the day I decided to go with YALLS program. You know, a big part of it was obviously I’m a pastor and so I love the spirit of the program, the go giving aspect and the desire to give back, the focus on tithing being such a critical part of success. And so, for that and then just obviously the success of your students jumped in.
That’s been just about a year ago that we started the program and a lot of people who jump into this are looking to create a new business and get out of the rat race for my family, my calling as a pastor, that is my passion. That’s what I love to do. I have no intention of this becoming a full time job or even a part-time job. This is something we do like super, super part-time. And fortunately, as I’ll explain, we’re in a point now where we’re going to be able to bring on some more team members so that I can really continue to put my focus on ministry. But yeah, we jumped into the program and we’ve been doing it for about a year, but really honestly with my schedule, there’s certain times of the year where I simply can do nothing but ministry. And so we’ve probably actively been wholesaling for about six months. And in that time we’ve done three deals and one of them was a five figure deal and one was a six figure deal. And so also while the six figure one is the one we’ll jump into and they’ll casually mention the last one.
Tom Krol: Okay. First of all, I’ve got to do this. So hold on, I’m going to put my headset down for a second.
Ryan: Love it man.
Tom Krol: That is your victory bell ring brother. I love it. Congratulations! It’s amazing because I hear these stories so often and I’ve lost count. Honestly, I’m so blessed to be in this position. I’ve really have found my purpose in life. I believe that this is God’s purpose for my life, is to be a servant to people in this way. And I’m so honored that you’ve allowed me and the Wholesaling inc tribe and the rhinos and all the go givers to be able to contribute to you in this way because your success allows me to live my life’s purpose. So I’m so happy and I want to say so it sounds like if, just to recap, you’ve been in for about a year, but you really do it super part-time and okay. And so what does the actual dollar amount of revenue that you’ve earned gross on this so far?
Ryan: So far, so gross revenue at this point, we have earned a hundred and it’d be about $158,000.
Tom Krol: That is phenomenal. I love it. And what would you say, I don’t know if you have your numbers in pretty, but what would you say you netted out of that? Because obviously it’s marketing expenses, right?
Ryan: Yes. So net is probably about 120, 125 somewhere in that range. And right now we’ve got a bunch of marketing out and so we’re about $10,000 into our latest marketing and working it, but don’t have anything under contract at the moment. So we’re about $120,000. On the plus side of this, basically six months of work and we’re talking like super part-time. So super exciting.
Tom Krol: And now you want to build a team?
Ryan: Yes. Exactly.
Tom Krol: Okay. Well if you will allow me this latitude, I will make a suggestion to you and you guys, to all our listeners this is totally unplanned. Ryan and I have not had a conversation before. Have we ever had a conversation before? I’m sure we have it if we’re
Ryan: Not with detail. We’ve just chatted a couple of times just back and forth.
Tom Krol: Okay. I apologize. I have so many conversations in a day. I can’t remember.
Ryan: Forget it man.
Tom Krol: But I will say one thing that I’ve done, so I get this call, I had a conversation from one of our students, his name is Zach Booth and he is absolutely crushing it.
So he’s up somewhere in the Midwest and he said to me, “Tom, I’m doing really well,” because he’s doing something like 50 to $80,000 a month, “and I really now want to grow my business. I want to take it to the next level.” And I get this phone call all the time. I just got a call from Matt Vukovich in Indiana who’s have lots of success, but he’s working too many hours. He wants to grow a team. Then I got a phone call from someone else, I think it was David Pupil in Orlando, and he said the same thing. “I’m doing really well. Want to take it to the next level.” So I get these calls all the time. Every week I get a call like this from a student who says, “Hey, I’m doing well, but I want to build a team and I want to do better.”
And what I did was I called Todd Toback. So for anybody who’s listening, Todd Toback is my mentor. He’s the guy who helped me grow my business. My business does very well. Every single month consistently without skipping a beat, it is completely 100% hands off, Ryan. That’s where you’re looking to go.
Tom Krol: I 100% give Todd all of the credit. And what I’m going to suggest is just like when I got started, he pulled me kicking and screaming out of being fired from a lawn care guy into legitimately becoming a millionaire from this. And he literally pulled me and I was kicking and screaming the whole time. “Oh Todd, San Diego is so big and the homes are so expensive and there’s so many homes and in Port St Lucie, Florida, I’m so inexperienced, I have no money. I’m bankrupt, I’m poor. There’s fewer houses and they’re so cheap, it’s never going to work here.”
Well anyway, the roles have reversed and I grabbed Todd by the collar and I said, “Todd, there is a need in the tribe. There are people who are doing well and now they want to take their business to the next level. They want to automate, they want to do deals over the phone.” And when I say deals over the phone, I don’t mean like cold calling, like TTP. What I mean is actually like closing deals over the phone instead of having to go out to them, which allows you to new areas. They want to do sales training for the acquisition managers. They want to hire and trade VA’s. They want to increase their marketing new channels that nobody else is doing.
They want to concentrate on passive wealth. When to cherry pick a property, which ones, how to hold them, all that good stuff. So I said, “You’ve got to come out of coaching retirement and you’ve got to coach the next level wholesaling.” And he hemmed and hawed. He’s like, “Well, I don’t know what kind of commitment.” I was like, “Todd, you want to be a servant?” And he said, “Yes.” Finally, he said yes. So I called back the guys. I called up Zach and we have other people. Mike McLeish. This is brand new. What I’m telling you right now, literally just a handful of people know about it. This is the first time I’m talking about it. So if it’s something that you’re interested in, I have absolutely no problem turning this podcast into a sales call with you and telling you if that’s the direction you’re going, you absolutely 100% I will book a call with Todd and you guys should have that conversation. If you want to take your business to the next level and you want to now automate everything and have it running without you, create a real business out of a job, something that is a servant to you. Todd is the guy. The only reason I-
Ryan: Yeah. That is absolutely the step that we need to take. Because I mean we’re at this point now where we’ve got the engine going, we’ve got the marketing and I’m at the place where there’s a legitimate cap. The amount of time that I can spend without my ministry taking a hit and my family taking a hit. And so you know that there’s always going to be that sort of painful step where you’re finally at the place where you have enough business and you’re making enough that you can really start adding in people and in making that investment. And we’re there. And as my wife and I have talked, for this to succeed for us longterm, we have to automate. We’ve got to get the work off of me now and onto a team. And so we’ve identified a few areas we’re wanting to do that. But yeah, that sounds awesome.
Tom Krol: I’m going to be saying-
Ryan: Todd’s little podcast about how to sell, which is part of the program is… I mean I can quote that thing verbatim. Coaching is fabulous too, so that’s awesome.
Tom Krol: Well, he’s totally honest, wholesome, his advice is sound. I attribute all of my, the only reason I have a business that runs without me, and I mean my business legitimately with two people completely runs 100% without me, is because of Todd. So I’m going to set that call up and I have no problem doing because I know it’s good and honest and wholesome for everybody who’s listening, if they’re interested. Now I will tell you for all of our listeners, this is not for a new wholesaler who has not done a deal. If you have not done a deal, this is absolutely 100% not for you, but for anyone who’s listening and the page isn’t even up yet, but it’s going to be up. It’s going to be Wholesaling inc dotcom forward slash next level. If you have not done a deal yet in wholesaling, it’s absolutely not for you. So it’s only for people who’ve done deals. This is so new that I wasn’t even planning on talking about this, but the page isn’t even up yet but by the time this podcast is released, the page will be up. And Ryan, I am going to absolutely hold your feet to the fire and I’m going to force you to have that conversation.
Ryan: Let’s do it man.
Tom Krol: All right. So now that we did that, that’s awesome. Totally curveball here. This whole podcast is upside down. This is not the way they normally go. All right, so now let’s talk about you had a six figure deal. Six figure is huge. Just for all of our listeners, most wholesale deals are not six figures. They’re not $100,000 plus the profit you make, they’re typically in really big metropolitan areas. It could be anywhere from like 30 40 80 sometimes a little bit more than that. In smaller markets there are typically going to be like 5 10 17 20 and you’re going to do more of them. So a hundred or over a hundred is fabulous. That’s a lot. So tell us, first of all, how did you find the deal? That’s the first question.
Ryan: So this was a tax delinquent list from the city. Got it from a Dallas County, i pulled it straight from the County records and had just kind of targeted some certain areas on the Northside of Dallas that I knew were really heavy flipper areas. And so got the call on this one and it was an older couple, and this was interesting. This was one of those just one of those little things that you guys teach in the program, it made me over a hundred grand, just this one thing. This was a phone call that they did not leave a message. And so it was just a hang up. And so I called them back and got ahold of the guy and we started talking and he really didn’t know what the property was worth. That’s one of the big things that we ask is, “What do you think it’s worth?” And he just really didn’t know. But I could telL there was just something in his voice where he sounded upset, depressed. There was no energy in his voice. And he was like, “I just really need somebody to come and take a look at this house.” And so I popped over that evening after work.
Tom Krol: I just want to recap for the benefit of everyone who’s listening because this podcast is all about taking massive imperfect action and progress, not perfection. So hopefully everyone who’s listening is taking notes here and he’s going to do this. You went to the County, you got a tax delinquent list. These are people who are behind on their taxes. Now you send them direct mail?
Ryan: Yes. We use the just the little white postcard that you guys help us such design and create.
Tom Krol: Right. And then he called back and he didn’t leave a voicemail. So this is something that is a little tactic that we teach in the tribe. We don’t have to dive into the whole tactic right now, but guys, it’s very important that every single person who calls in always assume that they’re motivated to sell their property at a discount. A lot of new times when a wholesaler starting out, they’re waiting for somebody to say, “Oh, come please and buy my home right away.” That never happens. Always assume when people call you, even if it’s a hangup or a missed call, assume motivation and go out and meet as many people as possible. So it sounds like that’s exactly what you did. Right?
Ryan: Exactly. So got down to the house and as soon as I walked in I knew I was like, “Okay, we’ve got a situation here.” There was the cabinets. The countertops were like sagging, the carpet was ripped up everywhere. It was like a hoarder’s paradise. There was just stuff everywhere. So it was very obvious the house was in bad shape and long story short, after conversation with the owners they had serious health problems. They had kids who were adult kids, deadbeat kids who were living there at the house. They couldn’t get them out. They really needed to get out of the house. And then some kind of a senior living, small apartment environment that would take care of getting the kids out of the house and getting them the money that they needed for some necessary medical treatment.
And they’d been in the house for like 40 years. So they owned it free and clear. So they had a lot of room to work on price. And so in a Todd podcast on how to talk to a seller, one of the big things is when you start talking price. So when we spent 30 minutes just trying to understand their situation and help them out, but then when it got down to talking price, what we’re taught is if the price that you start at isn’t like so low that you feel like you’re going to blush because it’s such an insulting number, then you haven’t started low enough. So I come into this one knowing that my maximum that I was going to be willing to pay was going to be about $170,000. And so I started the negotiating and 170 was going to still leave me a pretty good profit point. I started the negotiation and said, “Well, what would you think about a hundred thousand dollars? That’s probably not going to work for you.” And just like the way Todd says it would happen on his little lesson, the guy just sits there and says, “Well, you know, actually that would work for me.”
Tom Krol: Let me just say this, I want to reiterate. Todd has a module in our course that talks about how to meet with and build rapport with a seller. And I want to just tell you guys that Todd is a rockstar at this. And what we’re discussing is I want you guys not to miss what Ryan just said because this is such a critical piece of wholesaling real estate. And the really answer is what Ryan just said. The summary is that wholesaling real estate has nothing to do with real estate. And people spend so much time and effort and energy and focus and attention trying to come up with exactly how much the rehab is going to be costing. And the silly thing called ARV, whatever the heck that means. I think it stands for Assumptions Reduce Victories because nobody cares what you think the price of the home is except for one person and it’s not you.
So what Ryan is saying is, if you heard what he said, “When you feel in your belly that you’re way too low, that’s where to start.” Don’t worry about the stupid pricing valuations and taking 20 hours in two days while everybody else is doing deals to come up with the value of a home. You can learn what the price of a home is two seconds by just going and looking at a few comps and then just go super low. It doesn’t matter how much a high hat or chandelier, granite countertops cost, but none of which you and I know the price of anyway. So people always assume, “Oh Tom, you must be an expert at real estate.” And I’m like, “I don’t know anything about real estate.” I don’t care. I love it. So it’s so cool. Such a good point. I didn’t want anybody to miss that point about when you know in your gut it’s low. So all right, so we accept the offer.
Ryan: Basically what had happened is he’d had another wholesaler come by earlier who had offered him 80 for the property and he turned them down and I decided to go on and man, I don’t know who that wholesaler was, but he was absolutely nuts to not negotiate his 80 offer up. Especially considering what I was able to make on it. And so they ended up accepting i left with a contract signed and everything was good to go. For my wife and I, our primary strategy, we’ve got some cash to work with and so we’re wholesaling whenever we can. So the basically that means if it makes sense and the numbers, we will actually purchase the house, get it cleaned up, and then put it on the MLS and sell it to the retail market. Then basically we’re just not having to… in Dallas, people are paying nearly retail pricing on the MLS for distressed homes and so we’re able to make a lot more that way in a lot of situations.
Tom Krol: I just want to clarify one point. So everyone who’s listening, that’s actually the best way to do this is to find the property. The wholesaling a lot of people think has to do with the exit strategy or what some people call is the disposition. To me, the art of wholesaling is the art of consistently finding discounted properties. I really could care less what happens after you find a discounted property. It would be exactly the same as finding a car for 25 cents on the dollar. If you could buy a brand new Mercedes for $20,000 instead of 80. However you could keep the car, you could not keep it, you could sell it right away. Whatever you choose to do. But the art of wholesaling is fine. Every good deal, whether you’re Donald Trump, Robert Kiyosaki, it doesn’t matter. It starts with a discounted property. If you can get good at finding discounted properties, you will become independently wealthy in no time at all. I don’t care what your disposition or exit strategy from that property. So what Ryan is describing is just taking the property down, calling up a really good agent friend who can give you a discounted price and putting it on there. A lot of agents who work with wholesalers, they’ll list properties for you at three and one meaning only 1% for themselves.
Ryan: In Texas, we have a great system called ListingSpark, which is an online brokerage, it’s not chintzy in discount. It gives you everything that a normal real estate broker would do. They provide the photos, they do everything, basically you pay seven bucks a day with a one month minimum while the thing’s listed. So each property we’ve sold, we’ve spent about $700 to sell it. And that is it. It is flat fee, no commission. And it’s worked brilliantly for us, especially if you’re hands on and like to manage yourself. Anyhow, great deal. But so if you’re in Texas, ListingSpark is a great tool for us.
Tom Krol: ListingSpark. I love it. That’s a major contribution. Ryan, do me a favor.
Ryan: [crosstalk 00:24:23] What is cool about this. Sorry go ahead.
Tom Krol: I’m sorry, just do me a quick favor, can you put that in the tribe form that, “Hey guys, if you’re in Texas to put this.” Because I know everyone in Texas, in our forum, in the coaching program they would benefit. I’m sorry, I didn’t mean to interrupt.[crosstalk 00:24:42]
Ryan: So one of the neat things just kind of thinking about the goal giving mentality of the tribe is as we got into this, we discovered that the title was clouded a bit by a lien from a credit card that they had had. We’re talking back in the 80s that had never gotten paid. And so there was like this lien on the property that we couldn’t close on it until this thing was satisfied. Well, the family, they’re elderly, they didn’t have a clue how to deal with this.
They were just freaking out about it and they just didn’t know what to do. And so basically, “Well, listen. Let’s do it right. Let’s get some paperwork that protects me in this. But if you would like, if you want to authorize me, I will negotiate this on your behalf.” We’re always talking about find out what does the seller need? Do they need help packing stuff up? Do they need a dumpster delivered to the house? What do they need? Well, in this case, they needed somebody to negotiate this lien. And so basically with all the interest and fees and everything, it turned out that it was going to be a $20,000 lien and it delayed the deal for months. But over about a two month period, I probably put about 10 or 15 hours into negotiating this forum and we got it from $20,000 down to $6,000 on the lien.
Tom Krol: Beautiful.
Ryan: So when we went to close, they were in tears at the closing and so thankful and so grateful they got more money than they thought they were going to be able to get for the property. They got this lien, $14,000 knocked off of it. They were just like beyond thrilled. That was the coolest thing where, this is truly a win, win, win. They’re gonna win. I’m gonna win. And then the people I sold it to are going to win.
Tom Krol: I want to just bring up an important point, guys, that Ryan just brought up. This is something that I learned from Robert Kiyosaki and I will tell you this, and it’s called ‘Be to have’. So often in this society as we are brought up, as we are raised in school and then in college and then wherever we go from jobs, from there we are always taught, do to have. What do we have to do to have to get what we want. This is not the right path. This is not the right journey for us, for entrepreneurs, for the successful, for the 1%. The reality is it’s who do I have to be? Who do I have to become to have. And I will tell you that that’s what Ryan is talking about guys. I cannot stress this enough. Ryan said, “Tom, I was attracted to your program because of the tithing.” Here’s the key. I am telling you when you have an abundance mindset, all of the best wholesalers, if you take the top 100 students in our tribe and you say, what is a common thread?
What is a commonality that runs across these people and through these people? It is this Go-Giver. I remember Cody Hofhine, he used to call me, “Tom, the sellers in this situation. How do I help this seller?” Cody Hofhine is now not only a coach with a program, but he’s also, I believe the largest wholesaler, and I could be wrong, but I believe he’s the largest wholesaler in the entire state. So I just think that the key here is if you have a mentality of how do I help the seller? And that is your purpose and what is also does Robert Kiyosaki teach us is not only just be to have but having your purpose right from Michael Singer. That’s how I got to meet Robert Kiyosaki. That’s how I became friends with him through the book, ‘Michael Singer, The Surrender Experiment.’ I used to always preach, discipline is great but leave discipline at home and give me passion. Well, what I found out from Robert is purpose will override even passion. If you have a purpose that you are going to help sellers out of these sticky situations, you are going to have an explosive business that’s going to have tremendous success. So Ryan, I just wanted to highlight what you saw because that’s the core. Yeah, that’s the core.
Ryan: We closed on the property after getting everything settled. Sellers were super excited and so we literally like the next day went in. I’ve got a great cleaning company here in Dallas that we’ve used for our rentals and some other things that, I spent about $2,000 altogether to get the property cleaned out and cleaned up and ready to list. And that’s really all we did. I didn’t repair anything. I didn’t do anything. I literally got it cleaned, and that was it. I had great photographers come in and got the property listed. And so Tommy, this was what’s crazy. I listed it on a Wednesday evening. And so basically it went live and people started looking at it on a Thursday. By Friday afternoon I had 12 really credible offers on the house.
Sorry. Let me give you a numbers. So I purchased it for $100,000. I put in about, actually, I’m so sorry. I was thinking of a different property. I spent $350 prepping this house. $348 to be exact.
Tom Krol: Okay.
Ryan: So $100,000 purchase price. I listed it for 210,000. Two Oh nine nine and by Friday afternoon, two days after I’d listed it, I had 11 or 12 very credible offers, many of them all cash over list. So we went into a multiple offer.
Tom Krol: I had to read the victory bill on that one.
Ryan: So the guy who was already the top offer when I went out calling out for highest and best offer by five o’clock that evening or whatever, he obviously really wanted the property and upped his offer to $230,000. And so after all closing costs, after all repairs are taxes for the month or so that we held it between close. Now this doesn’t count, marketing costs and stuff, but as far as the net profit on that deal was just a few dollars shy of $123,000.
Tom Krol: That is phenomenal. Awesome.
Ryan: It’s unbelievable.
Tom Krol: Powerful. This is how simple it is. This is how simple life can be, when you can figure out how to find properties at a discount. This is what your life can look like. I’m totally blown away. There is nothing like this in the entire country. I can’t believe everyone is not doing this. I love it brother. Let me ask you a question. You are super smart. You are like a Mensa student when you were a kid you got a 1600 in your SAT. How are you different? Are you a model? You’re so fit that you’re actually like on the cover of men’s health or are you just an everyday guy and if you can do this, everybody can do this?
Ryan: To me nothing in this is rocket science. If you just sat down and read through bigger pockets long enough and tried enough things and failed at enough things like anyone can figure this out. The great thing with a tribe is it accelerates that and helps you avoid a lot of the mistakes. But the truth is you follow the system. I think the key is, Tom, there’s so many just sort of philosophical things that make this work. You’ve got to love people. Our church’s motto is ‘Love God, love people.’ The reason that this works for me is because I genuinely love people. I’m a pastor at heart. And so when I see these people, yeah, obviously it’s a business. This isn’t a charity for me, it’s got to be profitable.
But at the end of the day I’m able to be with people and to help people. As a pastor, and we have a large church and I’m one of the three guys on the executive team. I spend a lot of time in the office solving problems, dealing with, you know, people internally. But I don’t get out as much as I’d like to just get out there and minister to people in specific areas of need outside of my role as a pastor. And so this has been really fun for me because it’s let me in a sense, minister and deal with people in ways that I wouldn’t have gotten to otherwise.
And I think the key to the success in this is you have to have a genuine love for people. You genuinely want to help them. Whether or not you close a deal, being honest and saying, “Listen, if I’m not the best solution for you, I’ve got a great realtor that I can connect you to.” Or “I know these other wholesalers who frankly, they’re gonna overpay. I know they’re going to overpay, but let me direct you to them because I know I can’t do this, but I know they can.” You genuinely do that.
Tom Krol: I want to say this is. A lot of people get into wholesaling and you guys, we have in our course a whole methodology called ‘The Pull Away’. And sometimes people think, “Well that’s like a sales strategy or a negotiating strategy.” But really what it is is first of all, I just want to highlight two points that Ryan said is that number one is that this is not rocket science. Wholesaling is simple. People are complicated. Keep it simple. Do not go learning about real estate. Number one.
Number two is this whole thing about being a servant. Absolutely 100% and this whole idea of the pull away, what that really means is there are people who get super frustrated trying to create deals. What we always say in the tribe is don’t be a deal creator. Be a deal finder. If you can become a deal finder instead of having a frustrating life of trying to convince people to do something they don’t want to do.
Most people don’t want to sell their home at a discount and they don’t have to and they don’t need to. They don’t want to. That’s okay. It’s totally normal. It’s part of the process. Don’t waste time and get frustrated trying to convince those people to do something they don’t want to do. Right. Become a deal finder. Your life will be less frustrating and as you’re pulling away, what happens is the people who want to follow you will and the people who don’t won’t, and that’s okay. You’re not losing a deal because you never had one to start with. So Ryan, everything you’re saying, I totally, totally, totally agree with. I think you’re a rock star. By the way, are you coming?
So let me make this announcement. We are having a wholesaling summit. This is for wholesalers. Everyone’s invited, not just tribe members. If you are interested in wholesaling, if you want to learn more about wholesaling, if you want to get started, if you want to stop learning and start earning and actually start doing deals. We are having an event. It is in Asheville, North Carolina. October 15th, 16th and 17th. You can find out more at wholesalingsummit2018.com. Are you going to be there?
Ryan: I won’t, Tom. And I’ll tell you why. We are starting a major renovation of our church and I said that we have started it and over those next two weekends. One of those two weekends is going to be the weekend that we move into a brand new renovated gym. And so I’ve got to be there on site for all of that. But I’d tell you, one of the things I wanted to mention is that we’ve had this success in wholesaling and before we started wholesaling we knew that this huge renovation project was coming up in our church and we really wanted to have a… it’s a $5 million project and my wife and I wanted to be able to really have a significant role in helping to fund that. But we knew that on my income, my wife’s a stay at home mom, and we could do something but it wouldn’t it wouldn’t be big.
And we started praying about, I had a number in mind of what I wanted to do, but I knew it wasn’t going to be possible unless we had some real success wholesaling. So I just got to be honest, I didn’t even really begin praying about a specific… I just thought in my head like, “Wow, this would be nice. But I mean it’s this pipe dream. This can’t happen.” But it was in the context of wanting to do something significant for our church that then this deal came up. And I absolutely believe with everything that I am, that our family is being rewarded in a sense because I think the Lord knew that we were going to… this money was not going to be just going into my pocket books so we could take the family to Tahiti or something.
This is something that we are using for ministry. Obviously some of it’s going back to the business. We did take a nice vacation a few weeks ago, but there’s a big chunk of this that’s going to end up being a blessing to our community. And at the end of the day, wholesaling is something that, whatever your priorities are, for us, it allows us to do things both in terms of lifestyle and charity that we would never be able to do on my salary alone. And that is like the super exciting thing. We had another deal close just a month or so ago. It was about a $30,000 deal. And we really feel like the things that we’re being allowed to do, it’s happening because it isn’t all about us. [crosstalk 00:37:31]
Tom Krol: Ryan, I love this. Money absolutely, 100% does not buy happiness. I totally agree with you. And also sometimes people say financially free, which I’m starting to have a problem with that because I don’t know if there’s any freedom and money either, but I certainly know that it can be a blessing. Here’s what I will say, If wholesaling and the tribe and we contributed to that church project in any way, I want you to make a video so that I can play it during construction since you’re not going to be there. And we could talk about that so I can play that in Asheville because Asheville is going to be a blast. So definitely make video.
Ryan: [crosstalk 00:38:06] I would love to do that.
Tom Krol: That would be great. I would love to see that and it will show it to the whole entire tribe to kick off the event in Asheville coming up in October. So all right, that was Ryan in Dallas. He’s a rock star. Ryan, thank you so much for your time. You’ve inspired people, you’ve motivated people. I love the fact that you’re a pastor because secretly in this whole entire thing, I want to bring as many people to the Lord as possible and that’s my secret mission mission under wholesaling. But don’t tell anybody.
[crosstalk 00:38:33] That is so awesome and so God bless. Thank you for being here. And guys for all of our listeners, if you are wholesaling already and you want to take your business to the next deal, I am going to force Ryan to do this project because I know what it’s going to mean for him and his family and his community. With the church it’s going to be wholesalinginc com forward slash next level, any ex, T L E V E L wholesalinginc.com/nextlevel. And if you are interested in coming out to the Asheville event in October and having a blast with us and the whole entire team, we are going to have a just a whole bunch of people in the room. They are going to be millionaire wholesalers walking all over the place who have a business that runs without them.
There are going to be people, the only thing we’re focusing on is wholesaling real estate. So if you’re interested you want to learn more and you want to get started and stop learning and start earning. Get to Asheville in October. It is wholesalingsummit2018.com.
Ryan, thank you for your time today, brother. I sure, appreciate. I know you’re a busy pastor. You’ve got a lot of people to serve and be a servant to, so that’s awesome. So God bless you man, and thank you for your time. Thanks again. I really appreciate that.
Ryan: Thanks Tom.[crosstalk 00:39:40] The pleasure is mine.
Tom Krol: Great talk to you soon. I can’t wait. All right. Bye. Bye.