People who have done countless wholesaling deals know all too well not all transactions will turn out the way you want it. However, as long as you stay steadfast and bold, you’ll be able to eventually make things work out in your favor. The wholesaling story of our guest today is a testament to this.
Colin King’s wholesaling journey has not been picture-perfect. While he made a whopping $39, 000 on his first wholesaling deal, he encountered a few hiccups and challenges along the way. However, he didn’t let those setbacks throw him off. Instead he stayed determined, learned from his mistakes, and eventually found the wholesaling success he was looking for.
If your wholesaling journey has been less than ideal, make sure you listen to this episode. You just might find the inspiration you need to also create your own wholesaling success story.
- What the San Antonio housing market is like at the moment
- How the current status of the market affects his conversations with homeowners
- What the code violation list is
- What he does after acquiring the code violation list
- How he got into wholesaling
- How he found his first deal and how much he made
- The list he sent mails to
- Important lesson he learned from a deal he did
- Mistakes he committed
- Number of hours he spent on his first TTP (Talk to People) deal and how much he made
- His superpower
- Books he recommends
- What he would do to find deal if he does not have the money
- Objections by Jeb Blount
- The Richest Man in Babylon by George S. Clason
- My Life & 1,000 Houses by Mitch Stephen
- The Go-Giver by Bob Burg
- Think and Grow Rich by Napoleon Hill
- Brent Daniels’ Youtube Channel
- Wholesaling – TTP
- Wholesaling Inc Wholesaling Summit 2018
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Brent Daniels: Hello, Wholesaling Inc podcast listeners, the Rhino tribe. It is Brent Daniels and it is a phenomenal podcast episode today. I know that I say that a lot because I get excited a lot by all the amazing people that I get to talk to around the country that are doing phenomenal things, getting the absolute best wholesale deals in their markets, and I love the opportunity. I’m honored by the opportunity to be able to bring them onto this podcast, onto the YouTube channel and really just share their story because I think it just helps everybody grow and that’s the point of this is to absolutely have collaboration and not competition and to really just grow as much as possible in this industry because there a lot of homeowners out there that need our help. There’s a lot of cash buyers out there that need our help. So I want to start with this.
I want to start with an assumptive ask. Now, what does that mean an assumptive ask? An assumptive ask is going in and having a conversation with a homeowner and assuming that they’re going to sign a contract with you. It is what the superstars in this industry do. It is what the absolute best of the best of the best do on a daily basis is they assume every appointment they go on, every lead that is hot, that they are going to sign contract. And let me start with this quote from a phenomenal book by Jeb Blount called Objections that just came out. It says, assuming when you ask that you will get what you want is a mindset of positive expectation. This mindset manifests itself in your outward body language, voice inflection, tone, and words you choose. The foundation of an assumptive ask is your belief system and self-talk.
When you tell yourself you are going to win and keep telling yourself so, it bolsters your confidence and expectation for success. High, ultra high performance, believe that they are going to win and are supposed to win. I love that, especially if you are new to the wholesaling world. If you’ve never done a deal or maybe you’ve done a couple deals, and you’re kind of nervous about whether or not you know you’re going to get this contract signed or whether or not you’re going to be able to provide value to this homeowners, you’ve got to assume that you are the right person for the job. Or it’s not going to happen for you. You have to have that confidence. You have to have that positive mindset that says, “I can provide value here and I can do the best job. Nobody can do it better.” So with that talking about nobody can do it better in San Antonio, Texas. I would love to bring to this podcast, Mr. Colin King. Colin say hello.
Colin King: Hey Brent, how are you today?
Brent Daniels: I am doing phenomenal. I get to spend the next 20, 30 minutes with you so it couldn’t be better. So San Antonio market, how is the San Antonio market? Tell me a little bit about what you’re dealing with there.
Colin King: It is very hot, and it seems for a little while it seemed like we’re slowing down a little bit, and it’s sped back up. To give you an idea with [inaudible 00:05:27] presentation the other day on the market and they were talking about months of inventory and right in the hottest part for us is 150 to 200.
Brent Daniels: Sure.
Colin King: That reduced from over three months at the beginning of the year to under two months now. So it’s houses are just going left and right like crazy. We have a ton of influx of people moving here. So it’s a very hot, hot housing market right now.
Brent Daniels: Excellent. So when the housing market gets hot in San Antonio, how does that affect your conversations with home sellers? Because I know at least in Phoenix here, and it’s very similar to San Antonio, is you know you’ve got now sellers are expecting to get a ton for their house because they hear it in the newspapers, they hear it on the news, they hear it through social media, that the market’s hot and there’s no houses for sale and everybody gets the most of their house. I mean does that, is it affecting you when you’re going on your appointments?
Colin King: Yeah, it’s, I think it’s affecting everyone here. Some to a point and it’s just a matter of explaining to them, “Yes, it may have gone up, but you have all these issues with your house, whether it’s in horrible shape.’ You saw the pictures of my last house that was a hoarder house. Fortunately he realized it was a hoarder house, but you just kind of have to explain to him, let him know what’s going on, that there’s a lot of work that would have to be done. It may be worth 150 but in its current state it’s only worth 50 or 75 or whatever. So you’d have to have that conversation with them.
Brent Daniels: I totally get it. I totally get it and I agree with you 100%. I am only looking for rough houses. Like rough, rough, rough houses. That’s why Driving for Dollars is so powerful. That’s why Tired Landlord lists are so powerful because they literally these houses are beat up. They have to do something and most of the time the homeowner doesn’t have the budget to be able to do that. So they just want to get rid of it. Because I’m telling you now, if it’s a clean house and it’s in good shape and it’s in a decent area, they are flying off the shelf as soon as they hit the market. The only opportunity you have there is if you can catch them before they put it on the market. But most of the time they’ve got a lot of realtors in their ears and they’ve got a lot of family members in their ears and what they’re doing is they’re essentially just convincing them, put it on the market, get as much as you want for it. But I love what you said Colin, about going after the rough houses. That’s huge.
Colin King: Oh, I agree with you. That last one unfortunately was a landlord, which I didn’t realize at the time, but that was off of Driving for Dollars. The other one where I’m starting to have some success on getting some interest is the Code Violation list. You know the city’s already doing the work for you. They’re telling you where-
Brent Daniels: What is the Code Violation list?
Colin King: Code Violation list is…here in San Antonio I think they have about 40 or 50 people that all they do is drive around all day long and find Code Violations that the people are keeping up with. So when it comes to residential, it could be that the house is about to fall down, or it’s in massive disrepair, or the lawns too long, or they’ve got jammed vehicles in their front yard. Anything that doesn’t meet the city codes and ordinances.
Brent Daniels: Got it.
Colin King: And so we’re able to get to that list. Fortunately here we can just get it online once a month in the city. Or will even tell us when it comes available.
Brent Daniels: Beautiful. I love that. And so once you get that list, once you’re out there, what are you doing to get ahold of them?
Colin King: What I’ve done is pretty much paired those ones down and then I’ll just do a quick search on our accounting appraisal district and to see if anything, what’s happened within the past 10 years or so. So if they just had a deed of trust a year ago, I just kind of automatically eliminate it.
Brent Daniels: Got it.
Colin King: And there might be some more other things. We want houses that probably have at least 10 years of payments on them or more payments on them. I’ve taken those, skip traced them, turn around and started cold calling.
Brent Daniels: Beautiful and picking up the phone and just making contact. I love that. Now do you have… are you from a sales background, are you from like a prospect phone prospecting background?
Colin King: I have never really done phone prospecting that much. I do come from a sales background. I’ve done insurance and home sales for two nationwide companies, so I have done that before. But as far as sitting down at a dialer like you teach in the TTP program, I’ve never done anything like that before.
Brent Daniels: Yeah, it’s interesting. And coming from a sales background, it’s a huge advantage because you are used to, you have that endurance and that experience and that muscle memory of making so many calls and reaching out and following up and doing that. So that’s a huge advantage. Especially if you’re just getting into this industry from another kind of sales industry where you’ve had to make a lot of contacts on a daily basis, it’s definitely an advantage. So you were insurance, how’d you get into wholesaling? I mean it’s so funny. I think that we live in this bubble especially on the podcast and maybe in our Facebook and maybe with the people that we connect with they’re like everybody wholesales, everybody wholesales. Then you go out into like the community, right? The normal, the civilians of the world and nobody knows what the heck you are talking about. You know what I mean? I go to real estate groups, brokerages, everything. They have no idea what I’m talking about. It’s so crazy. I mean, how did you even find wholesaling?
Colin King: Well, what had happened for me is I didn’t come straight from insurance to this. So when I got out of college, I worked as an insurance underwriter. That moved me, I was living in Connecticut at the time. I was up there about eight years, moved to Dallas with that job. After a while I did not like what I was doing. Ended up in construction for a number of years. And then when we moved to San Antonio, I had kind of gone to some of the other sales and then prior really to getting into real estate, for a number of years I’d been working as a mobile notary doing signings, a lot of refinances, things like that. That kind of died off as soon as the election happened and not to get political, it doesn’t matter who got elected, the interest rates were going up, which what my industry went down. Because people are not going to refinance at the same rate essentially.
Brent Daniels: Right.
Colin King: And I had always wanted to get into… my goal was flipping like I want to flip, I want to flip just with a construction background. And finally, it’s probably come on almost two years ago. I heard an advertisement on the radio for a local guru group there just within the state, and I signed up for it. My wife came home to go to their night meeting, once a month night meeting. And I pretty much said, okay, I signed up for this. I want you to go, let’s go take a look at it. We went through their three day class, which at the end of it, they’re trying to get 20 to 50 out of you. [inaudible 00:11:33] out of you. But we can’t do that, we got to figure something else out. And then I ended up going to a meeting that was localized just here in San Antonio guru, but he just does wholesaling. On occasion, he’ll do a flip.
Brent Daniels: Sure.
Colin King: Price was relatively good. Some local who’s also a real estate attorney, so I jumped on that and that’s where I got the first deal from.
Brent Daniels: I love it. That’s really great. So you just kind of kept searching around, search around for the right fit, found somebody local there, which I think is huge to find somebody that is right there in your market, and you can get so much competency out of that. I think that, that’s a huge thing is to get competent. Is it a deal, is it not a deal? And how big of a deal is it? Huge. Huge. Especially when you have somebody local that can guide you.
Colin King: Exactly. Yeah. Fortunately for me, the first deal was a huge deal. Well, fortunately or unfortunately the first one was a huge deal. The fortunate thing was a lot of money in our pocket.
Brent Daniels: Yeah.
Colin King: The unfortunate thing was like, “Oh, I can get this much on everyone? And you kind of have to go, “Wait, no, I can’t.”
Brent Daniels: Oh, your appetite just fills up, right? You’re like, “Oh, I’ll do this every month. I’m going to be like the richest man in Babylon.” It’s like you just get so excited and you’re just like “This is going to be easy money.” But it’s awesome. I mean, even hitting those big time cheques, by the way, how much did you make on that, on your first one?
Colin King: With that one, with the way the agreement was, I got a little bit over half of it. [inaudible 00:12:56] some of your… if you do a deal, he’ll start paying you back over three deals. The amount of money spent on the class.
Brent Daniels: Got it.
Colin King: So that first deal, it was a foreclosure. He stayed the morning of, I got a call the morning before the auction. They were ready to go do a TRO. But the attorney said they had pulled it, the trustee, and we ended up doing that. Total it was $77,000.
Brent Daniels: Oh, It was how much?
Colin King: $39,000.
Brent Daniels: Wait, wait, wait. So your first deal was $77,000.
Colin King: Right. And my cheque was 39.
Brent Daniels: That is… here we go. Oh my gosh. That is bananas. That is absolutely phenomenal. I love it. And then so from there, what did you do? I mean, did you just sit around? Did you try to repeat what you did? How did you even find that deal by the way?
Colin King: That was actually… well, it was a foreclosure list. And what had actually happened is I had actually taken the class on my own because my wife had to work. But both of us signed up essentially back in November. I kind of did a few things with it. It got to April and we decided both of us were going to take the class and he had actually given us a list because the last day you go drive around and then everyone shares the list. And I just sent out mailers and I’ve done some mailers beforehand, but I’m like, “You know what? Just let me send out these mailers.” They were the foreclosure list and fortunately I got a call on that.
Brent Daniels: Awesome. So you just mailed to a foreclosure list and boom, $77,000 of which the guy walked you through the whole process. You got 39 and he’s paying you back for what you invested into him as a local guy. Phenomenal, phenomenal.
Colin King: Exactly.
Brent Daniels: Really, really great. Okay, so next steps. Then what do you do? So this is your first deal, you’re like feeling awesome. Then now what do you do?
Colin King: Well, I was trying to figure out what route was going to be the best marketing route for me and everything else. And I had actually for a long time, been listening to the Wholesaling Inc and I’ve been doing some direct mail, continue to do that. And on the podcast, it’s kind of funny because I finally got caught up and I think it was number 78 is where I stopped. And I was like, “I don’t know that we need to spend the money on that.”
We were trying to figure out what to do and not spend all the money on one thing and spent too much.” And we figured it was just easier to send out our own mail. So I was doing that for awhile, got a deal back in December off of that. After that, and I guess I started with the TTP program in April-ish early May. And it was weird because I came back and I was still trying to find what was the right way to do this. You know this was direct mail was against some stuff back, but it’s inundated. It’s kind of what you talked about you’ve got the passive, you’ve got semi passive type ways of doing things. And I went back and started listening to the podcasting. And I think you were on number 83 or 84 or something. And I’m like, “Why didn’t I listen for another month or two?”
I’m like, you need to listen to this podcast. This makes sense. It’s not that expensive to do as far as the marketing dollars go into it.
Brent Daniels: Exactly.
Colin King: She listened to it. I’m like, “Let me call him. Let me find out what the price is.” Came back, talked to her the next day after talking with someone up… I think Annie up in Utah. Anyways, so talk with her about it. Found out about it. Next day I’m like, “Let’s just go ahead and do this.” Get signed up. My wife was onboard with it. She’s like, “We’ve got to figure out some marketing stream.” And then we just went from there.
Brent Daniels: Love it. And you just did a deal, right? You were just there. At the beginning of this podcast you were just talking about and I know because we talked all the time, but you just did deal that was a hoarder house. Right? Can you walk us through some of that? Because I know a lot of people drive by a lot of hoarder houses all the time. And there’s a very easy strategy for reaching out to those hoarder houses. So kind of explain what you did.
Colin King: So what I did… from the outside, you wouldn’t know it was a hoarder house. You knew it needed a little lot of work though.
Brent Daniels: Got it.
Colin King: It was a Driving for Dollars list, came back. Got it skip traced. Just started making calls. And the first time I called the guy, I was like, “Yeah, I saw the house, Are you interested in selling it?” You know, using the script. And he pretty much was like, “Well yeah, sure. What did you have in mind?” And I just basically did 60% of Zillow. That’s my number. And I came at 100. And I said, “Depending on the condition of the home, it’s going to really depend on… it might change that price and everything.” He was like, “Oh, it needs a lot of work.”
I was like, “When is there time I can see this?” He’s like, “Well, I’m going out of town, why don’t you call me this day?”
And then he kept kind of pushing things off and it took three or four times and he kept talking about this tenant that was living there and everything else. And finally one time was like, “Well, I want him to clean up the paper that was in the hallway.” [inaudible 00:17:38] And finally I said to him, I was like, “I’ve been in a hoarder house, I’ve been into horrible homes. Why don’t you just let me take a look at it, I can guarantee you I’ve seen worse.”
So as soon as we get there, I meet him, we’re just talking a little bit, walk in the door. And sure enough it was a hoarder home.
Brent Daniels: Yep.
Colin King: So that’s kind of where that started. We walked around the house and everything and he pretty much came out. He was like, “Well, you know, I know I can’t get that 100 but if I can get 40 to 50 I’d be really happy.”
Brent Daniels: Isn’t that the best when they just start throwing out the numbers?
Colin King: They just start throwing out numbers. I’m going to bring out, the point on this is that, just so people know, you can make mistakes on things and you can still make money or you might get out of it. And there are two, I think I mentioned this to you on one of our calls. Two $10,000 mistakes I made on this deal. And so we’re walking around, we go around to the back of the house, we’re talking, and I pretty much just tell him, “You know, I don’t think I can do 50 but I can do for 40. I think that’s a fair deal for both of us.” And that was my first mistake. I should’ve gone lower to try to get him lower.
And I think I mentioned this to you before too. My wife was the one that called me out on it because I’ve heard [Tato 00:18:43] Back say, and Tom, “You need to be embarrassed by your first offer.” And she asked me, she was like, “Were you embarrassed by your first offer?” I was like, “Well no.” She’s like, “You need to be embarrassed by your first offer.”
Brent Daniels: Yeah.
Colin King: I honestly think I probably could have put him at 20 and come back, and we could have met at 30.
Brent Daniels: Sure. [crosstalk 00:00:19:00]. Good lesson.
Colin King: Absolutely.
Brent Daniels: I’ve had this experience before too, Colin, and I’m telling you, it’s case by case. It really is. I truly believe that. I love that, you know, make it uncomfortable. And if it’s not uncomfortable, it’s not low enough. I get that. But here’s the deal. Like that works. If these… if you’re working with somebody, like you were talking about that he went from 100 to 40 to 50, he’s obviously feeling like, “Oh, it’s got too much work. It needs too much.” He’s already thinking that, if he can get anything for it, that’s great. I love that strategy for that.
If somebody says, “Hey, I want 100 grand for this.” And it’s a smoking deal and you’re trying to hit them at 70 or 80 or whatever, the next call is your competitor coming over giving them 100. I’m telling you in a competitive market like this, if somebody is giving you the offer and it’s something good and they’re strong with it and they have a reason for that number in their mind, and you can ask the questions and kind of peel back the onion a little bit and see why they came up with that number.
But if they’re like dead set on it and it’s a deal, lock it up. Do not to get all crazy, you know what I mean? It’s just when you’re dealing with somebody, like you were and that seller, Oh my gosh, and this is for everybody. This isn’t just for you. You know this stuff. But with that seller, you’re right. I mean there’s the… and now you know how to sniff it out, right? Now you know… oh my gosh, this sounds like that guy. And I know that I missed out on 10 grand on that last one. Not this time, man. So awesome.
Colin King: That’s… learn from the mistakes and go for it, that’s all you can do. So going on with that, what happened next was I brought some people out to look at it, priced it out there. I think it was at 90 is what I kind of put it out there at, which I still [inaudible 00:20:39] 200 probably about 50 to 60 in Wharton. So put it out there at 90, talked with some people about it. I had one wholesale company that she’s been begging me forever to do a deal with me. And this is kind of where mistake number two came along. On the two days, he offered me 80 and I said, “You know, I was having a hard time [inaudible 00:20:58] because I need to improve my buyer’s list.” Which we’ve talked about. And I was like, “You know, I’m fine with that. You make 5, 10 we’re good.
She’s like, “Oh yeah, I’ll get it out the next day, dah, dah, dah, dah.” Well, I met with one other person who said, “I would give you a 75 on it.” And I was like, “You know what? I chased that extra $5,000 when I probably should just taken that 75 and ran with it. But what happened with that wholesaler from that wholesaling company is it took her almost a week to get everything out. It was canceled appointments for people to view it, and after another week I finally had to get it back from her and we ended up getting it. I found someone that would take it at 65. So had to take that 75 instead of waited if that person had their money tied up. Then I’d taken that 75 and stuff, haven’t taken the 65 two weeks later. That was the real thing where that other, like I said, the other $10,000 mistake.
Brent Daniels: Yep, yep. Got it. Well I am 100% of that is solved by bigger robust buyer database. 100%. You know what I mean? If you’ve got people fighting over your deals, then you get to cherry pick the best ones. We sell 90% of our deals site unseen and for at or above what we’re asking for. So it’s phenomenal. But the reason is because it’s just… we have the buyers to do it. We have buyers with a ton of different strategies. Knowing the exit strategies for different buyers is so powerful. It’s so, so, so powerful, because somebody that wants to live in there is going to pay a heck of a lot different price than somebody that wants to just fix it up and flip it. So make sure you’re adding a lot of different buyers to your database. But phenomenal. What did you end up netting on it?
Colin King: So that I ended up netting on, it was $25,000.
Brent Daniels: $25,000. And let’s be honest, how much calling did you need to do to get that?
Colin King: My calling when I got that number before I got ahold of him, because I was my first TTP deal that I got. I would say, once I finally applied myself to do it, I would say it was probably about maybe 20 to 30 hours of calling. But I was still learning everything, and I wasn’t doing the best list at first. But as far as the followup with this one person, I probably spent maybe 30 minutes on the phone with them if that.
Brent Daniels: So let’s say… you said 20 to 30 hours of total calls. Let’s call it 25, let’s split it down the middle. And then you made $25,000. So you’re literally, when you’re on the phone making calls, you are literally one of those superstars out there that’s making $1,000 an hour.
Colin King: Right.
Brent Daniels: I love it. $1,000 an hour. I’m telling you, you can make $1,000 an hour, making cold calls. You really can. You may have reaching out to these homeowners and providing solutions. And how happy was that seller once he was able to get rid of that property?
Colin King: Oh, the amount of relief on his face was huge. The one thing I will say, and this is the one piece of advice that wholesaler did give. He needed to get stuff out of one of these bedrooms. And what we ended up doing is we ended up getting him a dumpster so he could throw other stuff away so he could get through his belongings that were in that one room. So always be willing to help out the homeowners with things. And I even went there a half a day one day to help him clean stuff out. And every two, three days I just go get bags off the patio and throw them in that dumpster. [inaudible 00:24:14] cost me just under $500 but it helped him out immensely and he was just like, “Oh yeah, we can keep going and going.”
Brent Daniels: Yeah, it’s perfect. I mean, you just solve their problems. And especially with people that have a lot of stuff inside their property or hoarders or whatever you want to call them, they get attached to these weird things. And it’s just the way that they’re wired. But if you can provide… and they get overwhelmed and they don’t know what to do with all of it and they feel bad that they’ve saved up that much and they’re like self-loathing and they’re like… it’s a bunch of different things. So if you say, “Listen, it’s not that big a deal, you could leave it here. I can put a dumpster on the side like Colin did and you can throw out stuff that you want. Whatever you need to do, we can make this happen. But you obviously, we’re having this conversation because you need to make a change and I’d love to help you with that process.” And that’s essentially what you did.
Colin King: And the interesting thing about this, with it being a hoarder house, it was actually a tenant. So this guy had lived in this house. The owner had lived in this house, bought it in 78 or something.
Brent Daniels: Yeah.
Colin King: Had a roomie, ended up getting married, moved into his wife’s house back and I think it was 89 or 98 I think it was. And the tenant became the renter and he’s the one that completely filled it up.
Brent Daniels: Unbelievable. Unbelievable. Talk about like a landlord horror story. That’s crazy.
Colin King: But he was just happy to be done with it completely.
Brent Daniels: Yeah. So Colin, what is… I like asking this question because it’s kind of a random question. I like people’s answers on it. But what is your super power you think in this business?
Colin King: I think I’m still trying to figure it out.
Brent Daniels: Good. Oh, that’s fair. Absolutely.
Colin King: There’s still a lot to figure out. I liked the wholesaling aspect of it. I’m still working on… I mean that’s part of my niche. I’m just trying to figure out what the next part of it is. And I think that goes into figuring out what we’re going to do as far as longterm investing in real estate goes. Or we are going to do that on different avenues. So as far as the super power in the area, I don’t know if I have established it yet.
Brent Daniels: Got it. Totally get it. And that is beautiful. I love that you’re questioning that and just trying to discover that, it’s a discovery and that’s awesome. So give me a book. Give me a book that you’d recommend to anybody out there listening that maybe they haven’t read, but they need to read.
Colin King: Okay. I’m going to… I’ll be quick on it, but I’m going to give three.
Brent Daniels: Beautiful.
Colin King: So first of all, The Richest Man in Babylon.
Brent Daniels: Yep.
Colin King: That is a book that changed my perspective on how to think about… and that it all comes down to it’s a mentality.
Brent Daniels: That’s all [inaudible 00:26:46] right?
Colin King: No. Richard oh George Clason.
Brent Daniels: Oh, okay. What was the other one? Oh, The Greatest Salesman in the World. Okay. Richest man in Babylon. Got it. Okay. What’s the second one?
Colin King: Next one is… it’s actually by a guy here that’s done a ton of… on finances. He’s worked on over $1,500 homes. And he’s under the San Antonio area, but his name is Mitch Stephen.
Brent Daniels: Okay.
Colin King: I’ve got it here because I always forget the name. My Life and 1000 Houses: Failing Forward to Financial Freedom.
Brent Daniels: Yeah. What do you like about it?
Colin King: Well. It was interesting because the first half… he kind of talks about his life and where it got him up to the point of getting into the business. And failing in the business a lot and kind of finding his way, is he did a bunch of rentals, lower end rentals and then went into doing the owner finance. And he and one other gentleman he worked with for years and years in this area are just known for doing owner finances and they’ve combined, and I’ve done thousands and thousands of owner finances.
Brent Daniels: Love it. That’s awesome. I’m going to read that. That is right up. That’s going to be added to my 52 books in 52 weeks challenge. Love it. What’s the next one?
Colin King: The last one is one that you love and I emailed you yesterday or texted you and that’s this one.
Brent Daniels: That’s it baby, The Go-Giver. Yeah.
Colin King: And I’ve never been a big reader, and it takes me forever a lot of times for the book. Took me forever to get through Think and Grow Rich. That I finished probably in about four hours, the total time over a few days. So great book. I want to read it again, but I figure I need to read something else in between.
Brent Daniels: 5 Laws of Stratospheric Success. It is a must read. That is a fact. Yeah, absolutely. Well awesome Colin. What else? What other advice would you give somebody just starting out that can put them in like actionable items? Let’s not just talk about like believe in yourself or talk about, you have all the potential in the world and all that, which they do. But let’s give them something like what would you do? You have no money. You have just your resources and your experience, what would you do to go find a deal?
Colin King: If I had absolutely no money, it would be Driving for Dollars to start with. It would be knocking on doors if need be. Overall, the cold calling, once you figure out how to do it and get it set up. And the TTP program is one that’s changed my perspective, made it very easy. So if you have a little bit of money, because you guys aren’t those $50,000 gurus, I would say to anyone, reach out to you, do that program. But the biggest thing is you got to go do it. You got to get up, you got to go do it. And then the other thing that I tell a lot of people when they’re first starting, they’re like, “Well, I need to learn this. I need to learn this. I’m afraid I’m going to screw up.” And I’ll look them straight in the face and I’ll give you the PG version.
But I’ll look him straight in the face and say, “You know what? You’re going to F up. But it’s okay because you do.” And I was at a meeting after a meetup bought a month ago, a bunch of about 10 of us are sitting around a table and there’s one newbie talking that night. And I looked her straight in the face and said and then everyone out on the tables like “Yep, I do it all the time.” I mean you look at this last deal I did, I have to F up twice.
Brent Daniels: Yeah.
Colin King: Big time. And I still made great amount of money. So don’t be afraid to screw up. Don’t be afraid of that. Because if you do, you’re going to be at those meetings for a year and you’re never going to do anything, or you’re going to stop coming and you’re never going to do anything. And that’s basically… you’re going to be like, “Oh I remember what I wanted to do that I just never did.”
Brent Daniels: Yeah. And the passion dies out and the goal of it and the dream of it just fades because you’re not taking action. Absolutely. It’s an action based business for sure. And I love that. Well, thank you so much Colin, for being on this podcast. We really appreciate it. You gave us some great perspective and thank you for being so humble and admitting to $20,000 worth of mistakes on this last deal that you did. The first one for TTP [crosstalk 00:30:34].
Imagine what happens when you get to 100 hours that you’re calling. These things start building and building and building and you’re making $1,000 an hour doing it. So it’s just phenomenal. And if you guys would like to see the path that these guys are going on, the guys and gals, the wonderful proactive professionals around the country that are building their businesses from reaching out and talking to people, the TTP, you got to go schedule a call with us, wholesalinginc.com/TTP.
We’d love to have a conversation with you. I’m guaranteeing you, it’s going to be the best conversation that you’ve had all year about a new marketing channel or a new prospecting channel or a new… just the best, most productive way to source the best deals. It’s a fact. Nobody’s arguing it. It can’t, I’m sorry. It’s a fact. It’s the best. So check that out. Wholesalinginc/TTP. If you want to meet guys like Colin King, and myself and some phenomenal Todd Towback, Max Maxwell, Tom Krol, Cody Hofhine, Brian Trip. Then you have to go to the wholesalingsummit2018.com. Wholesaling summit2018.com and get your seat. There’s only 300 seats, and two thirds of them are full. So get there now. The last time we didn’t have enough, so get there this time because it’s the best event of the year. You can find me at Brent Daniels – Real Estate Coach on YouTube. And yeah, I love you guys. I encourage you to talk to people and go out there and find the absolute best opportunities. Colin say goodbye.
Colin King: Bye.
Brent Daniels: See you guys. Until next time.