Today’s guest has been in the wholesaling business since 2014. While he was able to close deals every now and then, it was only a few months ago that he was really able to take his business to the next level. His secret? The TTP (Talk to People) Program!
Since using the TTP program, Joseph Moranda has done something truly amazing—scale up his business dramatically while keeping his stress level to a minimum. And that’s just for starters.
If you want to know the huge difference the TTP program has made in Joseph’s wholesaling business, consider listening to this episode a must. You will not only be inspired by his story, you just might discover the missing ingredient that’s going to take your wholesaling business all the way to the top!
- How he found his first deals
- How the go-giver mentality has helped him
- The importance of understanding the 4 personality types
- How he helps his people stay accountable
- His advice to people who are just starting out
- How he finds Spanish-speaking buyers
- How he stores information in his database
- How he finds Spanish-speaking groups on Facebook
- Book he recommends
- His superpower
- One thing he’s working on that can take his business to the next level
- The Greatest Salesman in the World by Og Mandino
- Sean Terry
- Wholesaling – TTP
- Wholesaling 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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Brent Daniels: Hey everybody out there it is Brent Daniels with Wholesaling Inc Podcast. I am the host on this episode and this episode is going to be phenomenal. This episode is for anybody that has ever struggled with whatever, anything in life with. Whether it be a job that was just a dead end job or a job that was terrible, whether you have no money, whether you just have the only thing fueling you is your passion for this business, your passion for wholesaling, your passion to hit the lottery, which is wholesaling real estate. This podcast interview is for you. We are both on this podcast and we are on a video podcast live. We’re going to post this to Facebook and my YouTube page at Brent Daniels real estate coach. So check them out. But it is my absolute pleasure to introduce on this podcast, Mr. Joseph Morando. How are you Joseph?
Joseph Morando: Hello Brent. I’m doing fantastic. First of all, thank you for having me on. I remember putting out bandit signs in the middle of the night in the Phoenix desert and truly being inspired.
Brent Daniels: Yeah. So let’s pull this back a little bit. Joseph is literally just down the hall in my office space. He got an office in the same building that I am at on the 19th floor in downtown Phoenix. He is in the Phoenix market and he is doing just explosive amount of business. This is going to be a really, really awesome interview, but Joseph, you didn’t start out this way, right? You didn’t start out in real estate and doing amazing things and having a team, which you can see behind if you’re watching the video. What you did is you literally started from the ground up, just you and your wife. So let’s roll back the tape a little bit. And why don’t you tell me since the time that you were little, what have you been doing to get to this point?
Joseph Morando: While Brent, I always been an entrepreneur at heart. I actually began my voyage back in 2014. Well, I had a cleaning franchise and basic as just a glorified janitor. I remember working 10, 12 hours a day. I remember scrubbing toilets and where in some cases there was accidents and I had to literally clean up feces and throw up. And just thinking there had to be a better way. So what I started doing Brent, I started listening to podcasts just like yours and just taking action from those podcasts, I put out bandit signs and got a few calls. And I was just completely overwhelmed and ready to quit. I didn’t know how to talk to sellers. I don’t know how to book appointments. And so I was real frustrated at that point. I heard about an event coming into town just like Wholesaling Inc summit coming in October. So I went to that event. Within a few minutes of that event, the instructor called me on stage and asked me why I hadn’t gotten my first check.
Brent Daniels: And who was the instructor and what was the event?
Joseph Morando: The event was Extreme Freedom and Sean Terry was the instructor.
Brent Daniels: Awesome. Sean is phenomenal. He’s just down the road from us, so keep going with this. So he pulls you up on stage, what happens?
Joseph Morando: And so he challenged me to get my first check within 30 days in front of 300 people. And he said if I did not get my first check, he was going to basically email everybody and let them know I did not get my check.
Brent Daniels: Yeah. So I bet that puts some motivation in you.
Joseph Morando: Absolutely. And I did in fact get my first check. It was on the 30th day. Within 40 days I closed three deals for revenue of $32,000.
Brent Daniels: So what do you think changed? What do you think? Was it just that pressure to do it? Was it something you learned at the conference? What made that change in you to be able to do those deals? Just start doing deals in that 30 days?
Joseph Morando: It was, I think my internal dialogue of, “You know what? I have to do it.” I had a timeline of when I had to do it. And then just making it public and having 300 people know about my situation.
Brent Daniels: Yeah. You know what? It comes down to changing your state of mind, right? Before you could always hide behind, “Well, I’m trying really hard, but I’m not getting any deals. Or I’ll eventually get there, but I’m a little bit hesitant to talk to sellers.” Once you change that state in your mind that says, “Oh my gosh, I’m going to be embarrassed in front of 300 people, or I’m going to be embarrassed. Or Am I really going to take action? Do I really want this bad enough? Do I really have the grit?” On this podcast, we talk about grit. It was called Investor Grit for awhile. You know what I mean? We talk about the grit that you need. All that is is a change in your state of mind. It is really putting something in there that’s going to motivate you to push through those tough times, be able to make the decisions that you wouldn’t normally make so that you can go out there and provide value to the marketplace.
Joseph Morando: Absolutely.
Brent Daniels: Yeah. So, okay, so you started there and you started with bandit signs. Is that how you found those deals?
Joseph Morando: That is correct. So I placed bandit signs, there’s a couple routes that I like to use that historically has gotten me a deal. It’s basically just Googling the interstate that have the highest traffic and you basically place bandit signs there. Or you get a simple Walmart route or again an app on your phone and place your bandit signs on that route. So that’s how I got my first deals.
Brent Daniels: Got it. And why did these people call you? Why do sellers that you reach out to you on a bandit sign? Why would they do that?
Joseph Morando: In this situation, it was inherited property. There was five siblings, one of them was in jail, there was actually a squatter living in the property and they just want to liquidate the property.
Brent Daniels: Got it. So you went from cleaning toilets and doing janitorial services to saying, “You know what, there’s got to be something better in life.” So you decided to go to an Extreme Freedom with Sean Terry, phenomenal event, phenomenal coach. And he pulled you up on stage and it made you change your state of mind. And then all of a sudden you’re in front of somebody that has five people inherited this property and you’re able to navigate it through to be able to one, get that huge weight off of their shoulders and two, to be able to make your first check in the business. Is that right?
Joseph Morando: That is correct, yes, Brent.
Brent Daniels: How much did you make?
Joseph Morando: We made 22,300.
Brent Daniels: On your first deal?
Joseph Morando: Yes.
Brent Daniels: That is what I am talking about. So then you obviously had the bug, right? Obviously then you started to really start implementing. Now how long ago was this?
Joseph Morando: This was four years ago.
Brent Daniels: Four years ago. So this is 2014?
Joseph Morando: Correct, yes.
Brent Daniels: Okay, great. So how many bandit signs were you putting out at the time?
Joseph Morando: I was putting out about 50 a week.
Brent Daniels: 50 a week.
Joseph Morando: Yes.
Brent Daniels: Okay. And were you doing it yourself or did you have somebody do it?
Joseph Morando: Myself, Brent.
Brent Daniels: Okay, got it. And when the calls came in, did you take the calls yourself?
Joseph Morando: That is correct. I got them live.
Brent Daniels: Okay, great. And then how did you have buyers to sell that to? Let’s speak like we’re talking to somebody that’s just getting into this and they’re like, “That sounds great. I got a seller. They’re motivated. But then what do I do?” How did you find a buyer for this property?
Joseph Morando: I put out bandit signs that said Vendo Casa in Spanish, Brent.
Brent Daniels: Because you cater to that market. It’s a very, very, very strong niche for you, isn’t it?
Joseph Morando: That is correct. Yes. About 80% of our deals have been sold to the Spanish market.
Brent Daniels: 80% of them. Now for anybody out there that caters to that market or caters to whatever market it is, whether it be some foreign language, there’s plenty of different niches that you can get into. Maybe somebody speaks some sort of a Chinese or Japanese or Spanish or whatever it is. There’s definitely those niches there. So how did you start, how were those buyers? Do you have to educate them more on the process?
Joseph Morando: That is correct. A lot of these buyers have cash. Maybe, perhaps they’re a contractor that puts tile or a roofer. So they’ve had a lot of work since 2009 and just collecting money. And now they want a part of American dream. Maybe it’s a McDonald’s worker just saving her money and just wanting their second rental. And you do have to educate them just a little bit more. But it’s a good market to be in.
Brent Daniels: What a beautiful mentality that is. A McDonald’s worker that wants their second rental, that’s because they’re saving their money. They’re not throwing it away. Even if you make a small amount of money, they’re saving it and putting it into assets. Remember when we make money, we have two choices we consume or we invest. Where do you want to spend your money? I just love that. This is kind of a side note, but it’s so huge. You can tap into those markets and I feel like at least with my experience in the business, when we do sell to somebody that wants to either fix up the house themselves and live in it or fixing it for a rental, they pay more for the property then say a fix and flipper would, or say somebody that is another wholesale or something like that. Is that right?
Joseph Morando: That is correct, yes. Brent.
Brent Daniels: So you had people calling off of your bandit signs. So how long were you doing bandit signs? Take us through the next few years.
Joseph Morando: So for the next two and a half years it was strictly bandit signs. And what happened is I wasn’t getting too many calls. So what it taught me was being able to convert these sellers and really appreciating every single seller that would call me. And we just had the philosophy of putting people before profits. And I think that served us well.
Brent Daniels: I love it. People before profits, that is so huge. That is one of the things that I’ve been talking to my company about, the students in the TTP program about is about competence. It is so important. Competence is such a huge, huge factor in this business. And really we focus the competence on two things. One, how to price a property, how to valuate it, how to know what price, to one, lock it up at, and two, sell it. That’s a whole different podcast in itself. But that’s huge. The second one is understanding personality types. Okay? When you understand the four different personality types, there’s analytical’s, there’s drivers, there’s expressive’s and there’s amiable’s. Okay? And that’s another podcast in itself. But if you can understand which personality type that you’re talking to or working with, you can communicate in a way that they open up to you.
Just like Joseph saying, “They’re the ones that are going to really be honest. They’re going to open up and let you know what their issues are, what their problems are.” Because once you know that, you know the path that you need to take to solve those problems. And that’s what Joseph is phenomenal at. You guys don’t get to see him on a daily basis like I do, but I’m telling you, this guy is the nicest, most versatile guy on the planet. This guy can charm anybody because he is just absolutely all about listening to what the other person’s saying, understanding where they’re coming from, and it has a huge, huge, huge emotional intelligence. It’s absolutely a factor. Have you always been like that, Joseph?
Joseph Morando: No. When I first started wholesaling, Brent, I used to think about the bottom line and getting the biggest checks possible. And what I noticed is whenever I went to an appointment, I was always nervous. When flipped the switch and started putting people before profits my nerves went away, Brent. And that’s when the magic started to happen.
Brent Daniels: It’s huge. It’s absolutely huge. Just the whole go-giver mentality, right? Our income is determined by the value we provide to the marketplace. And that is so huge. Okay. So you started going on appointments. So over the last few years, how has your business grown? How has it evolved? What does it look like after a year of doing it what it looked like?
Joseph Morando: It evolved. We were doing well, Brent. I think last year we did 38 deals, but in December the hustle hurt. So I was from the same emotions I was when I was a janitor and cleaning buildings, I didn’t have the will to go out on appointments. And the hustle was hurting. And so what I did is, is I started implementing some of this stuff you were talking about on podcast, using your scripts. We got proof of concept with the deal. And then, so I started, I made my first hire in January.
Brent Daniels: So wait, why was the hustle hurting? What does that mean? Because I think that’s really, really important for the people listening. You’re making money, dude. You’re doing deals. You did what? 38? Is that what you said?
Joseph Morando: Yes.
Brent Daniels: Why? Why were you hurting? I don’t understand. Was it too much? Was it too much time? Was it too much emotions? What was going on?
Joseph Morando: So the reason I got into this business was for freedom. And I have two teenage daughters. My wife, I’ve been married with for 18 years. And I was basically just a slave to a job.
Brent Daniels: Got it. So what do you mean? Incoming calls? What was making a slave to you? Was it too much marketing? Was it not enough marketing? Was it running around too much, too many appointments? What was clogging up your life that you felt that this was a job?
Joseph Morando: Basically putting bandit signs every weekend. Doing postcards in house. I was doing all the mailings. I was running the appointments, I was taking the phone calls, I was disposition. So I would market, I would sell, I would assign the contract and then I would baby the deal to the end. And so then I needed to start over again. So it was just that routine of going back and forth.
Brent Daniels: How many hours a week were you working do you think?
Joseph Morando: At least 50, 60. And if I wasn’t working, I was listening to podcasts and trying to get better. It was a lot of my time.
Brent Daniels: So then you made the beautiful choice that everybody in this market should make and that’s when you decided to implement the TTP into your business. Now you didn’t start off by just joining the program. You started off by using the scripts, using what was learned on these podcasts that we’re just talking about here that are free on the Wholesaling Inc podcast. And you wanted a proof of concept because you wanted the belief that it worked, right? You wanted that certainty that, “If I’m going to do this, if I’m going to join a TTP program. Or if I’m going to implement this marketing channel into my business, I want to make sure it works.” Right?
Joseph Morando: That is correct Brent. Yes.
Brent Daniels: So what happened?
Joseph Morando: So from your podcast, you gave us scripts, you told us who to call. And I actually did what you told us. I called an absentee owner in Texas. She wanted us liquidate her house because unfortunately her parents passed away. And she didn’t want to deal with that house anymore.
Brent Daniels: Sure. You just called her out of the blue?
Joseph Morando: Correct.
Brent Daniels: And she wanted to sell. And pulling from the ether out of the air, you pull a deal by just using your voice and your phone. And you called her up, got an appointment, got it signed. What did you make on it?
Joseph Morando: We got it for 60,000. I actually closed on it, cleaned it up and sold it for 95,000 to [inaudible 00:17:03] buyer.
Brent Daniels: So what did you net?
Joseph Morando: About 30,000.
Brent Daniels: That was weak, hold on.
Joseph Morando: Okay.
Brent Daniels: That’s what I’m talking about. So that is phenomenal guys, absolutely phenomenal. So that was back at the beginning of the year. You jumped into the program and then you have just taken it serious man. You have just absolutely exploded. So tell me the progression over the last eight months.
Joseph Morando: So now we have a full team in place. We have an acquisition, we have cold callers, we have Maria that is basically my glue, and she keeps me in order. And my wife. And so now I’m working on my business versus in my business.
Brent Daniels: Beautiful, beautiful, beautiful, beautiful. And how many cold callers do you have right now? Because here’s the unique thing guys. Joseph has his cold callers in the office with us. They’re here. There was one sitting behind, Dominique was sitting behind him. She just walked past. So hopefully she pops back in because I want you to see and meet his team if you’re watching this on the video. But he’s got his team in house. They’re making so many calls. How many contacts? How many seller contacts are your guys making per day?
Joseph Morando: You just mentioned Dominique. She does 200 contacts a day. So she has 200 quality conversations with homeowners a day.
Brent Daniels: How is that possible? Just doing it all day long?
Joseph Morando: She is doing it all day long. She has a drive and that’s why she is… We’re training her as an acquisition because I love her work ethic.
Brent Daniels: Beautiful. And you’ve got a couple of other in here. You just hired another one and you’ve got Alex and you’re just doing phenomenal things. Guys, I’m not joking. I’m in a glass office here. They’re all around making calls all around me all day long. It is phenomenal. It’s just a different feel to it. It’s a great energy. They’re here till 7:00, 8:00. The sun doesn’t go down in Phoenix to like 8:00 at night right now and they’re here taking selfies of themselves, smiling with their headphones on, making calls. Are you kidding me? This is what it takes. This is the drive. This is that grit that we’re talking about. Joseph understands where he was. Joseph understands that he was cleaning up toilets and bathrooms and poop and barf and all those other things before. And he’s not going to go back to that.
He is involved and he has grown and that’s the mentality that he has because he is there supporting and cheerleading and training. And making sure that they’re getting fresh lists to call and staying enthusiastic. They’re using this TTP script and they’re doing all the right things. He is just grinding guys. He is grinding, his people are grinding. And it comes from the top, but he’s still doing less in time and work than he was doing eight months ago because he is leveraging. He is leveraging the ability to get deals from picking up the phone and talking to people. Let me see that shirt on you, Joseph. Yeah, we got the TTP. Mine’s a little bit older than yours, but yeah, absolutely. The TTP shirt. The world famous TTP shirt. I love it. That’s what it’s about. It gets me so pumped up to have him in the office with me and there’s Dominique there, just taking a break for two seconds and jumping back on the phone, get Dominique to wave to the camera.
Joseph Morando: Dominique say hi to everybody.
Joseph Morando: Marie say hi to everybody.
Brent Daniels: So more people on his team, look at that. They are all there. They’re all doing just amazing things. So Joseph, as you’re growing your business, how do you stay on top of everything? How do you keep people accountable? How do you make sure that everybody’s doing their job and they keep consistent with it? Because consistency in this business is key.
Joseph Morando: Well Brent, like you said, it’s from the top. I show them as much as I can, so eventually they can leave me, but I’m going to treat them so well that they won’t leave me. And so it’s a good atmosphere and I love working with them. It’s a total blessing.
Brent Daniels: It is. It’s absolutely phenomenal. You guys are just killing it. So we’re talking all this stuff up. You got this office space up here on the 19th floor. You’ve got this team. How many deals are you doing? How many pending deals do you have right now? Like actual under contract, sold off, ready to go.
Joseph Morando: We do about six to eight deals a month.
Brent Daniels: Yes we do.
Joseph Morando: I listened to one of your Facebook lives and you mentioned the go after mobile homes and land, and multifamily. And we actually went after land last weekend. It was a phenomenal week. We called in for one week and we got nine contracts.
Brent Daniels: Nine contracts.
Joseph Morando: Correct, yes.
Brent Daniels: Phenomenal. And you guys are just, this is all TTP?
Joseph Morando: That is correct. All TTP Brent.
Brent Daniels: So what on average are you making per month?
Joseph Morando: It ranges. We’re still new. So we’ll range from 40 to 90,000.
Brent Daniels: 40 to 90,000 guys, from picking up the phone. You see Dominique, oh my gosh. Dominique’s making calls right now, guys. It’s incredible. They’re doing business right now in front of you, 60 to 90,000. I love it man. And it’s just the beginning. You are just exploding and you’re building up your pipeline. You’re doing all the right things, you’re building it up so that it’s just going to continuously give you consistent business every single month because you’re doing it consistently. You’re not recreating the wheel, you’re not making this complicated. You’re not doing 15 different marketing channels. You’re not spending ridiculous amounts of money doing direct mail or PaperClick or whatever else. TV, radio, billboards, any of that stuff. What are you doing? You’re going and you’re being proactive. You’re the one going out there, you’re on offense calling up these people every single day. It is phenomenal. I absolutely love it. And your success is just blowing, it’s just going through the roof, man. It really is.
Joseph Morando: Thank you Brent. And I owe a lot to you as well Brent, to have you in the building and tweaking our business and saving us thousands of dollars. And making a thousands of dollars as well. Thank you for everything you do Brent.
Brent Daniels: Well you guys got all the hard work. You guys are the ones that have to go out and provide the value. So that is absolutely phenomenal. So if you’re just sitting knee to knee, belly to belly, face to face with somebody that is brand new to the business, somebody that hasn’t done their first deal, what advice do you give them?
Joseph Morando: I would say focus on one course until successful. Don’t make an irrational decision. Making an emotional based decision. Find your why. Listen to our brands podcast, get the script, call, get a deal, and then join the TTP program.
Brent Daniels: I love it. And well yeah I definitely love that. But how do you just switching tracks real quick. Let’s go back to your buyer base. How do you find so many Spanish speaking buyers?
Joseph Morando: Well first of all we look at the zip codes that Spanish buyers buy. So we use what you teach us in the program, the cash buyers by zip code. And we still will go to demographics and go under Spanish. And then that’ll tell us the biggest zip codes where Spanish buyers are buying.
Brent Daniels: Beautiful. And then how do you get them into your database?
Joseph Morando: So we’ll use bandit signs. Vendo casa is big. That probably gets us about a 50 to 75% response rate, which is unbelievable of Spanish buyers. We also love Facebook groups in Spanish. There’s groups here in Phoenix that have up to 180,000 members. And these Facebook groups are all over the country, and I simply just put in property I’m looking to assign. And then I like to put ITIN approved. So that basically just means that’s a tax identification number that they use to be able to buy a property.
Brent Daniels: ITIN approved. Correct?
Joseph Morando: Yes.
Brent Daniels: Guys, this is huge. Listen to this, especially if you want to tap into those markets that are underserved and that are going to pay the most for it. I am telling you this is huge. You go into Facebook groups. How do you find the Spanish speaking groups?
Joseph Morando: You basically just go into Facebook and the search bar. You look for groups, you have your Craigslist groups, you have your Spanish groups and they’ll basically just pop up. Here in Phoenix, I think we have about 100 groups now. Every time you get a house in the contract it goes in each one of those groups and you’ll certainly get a response.
Brent Daniels: Yeah. You sure will. What book have you read that you think everybody should read?
Joseph Morando: The Greatest Salesman in the World with Og Mandino with The Ten Scrolls.
Brent Daniels: Love it. Yeah, I’ve got that literally right here on my desk. Phenomenal. It’s holding on my computer or I’d pull it out and like show it. But you gave it to me. So thank you. And then what do you think, I like asking this question. What do you think your superpower is? What’s your superpower, Joseph?
Joseph Morando: I don’t think I have one, but if I did have one, Brent, it’s just putting my hard hat on, getting that blue collar mentality and just going out there and working Brent. You know what? I think this is the golden age of wholesaling and this is the time to jump in.
Brent Daniels: Yep. And on his, well at least his old office, he just moved to a new office that’s bigger, but on his glass walls in his office. He has a big… he’s written all over him and on it, it says start every day at zero. Zero money in the bank. Zero leads, zero deals. Like keep that hunger, keep that super, super passion, that like you have to go out and do something today. You have to provide value today. Who can I find that I can help today? That is such a beautiful mentality to keep.
It changes your state. When you put these things on the board in front of you, it changes your state of mind. When you change your state of mind that helps you to be certain that you can do this. You start envisioning all the things that you can do and that changes everything. Because then you can take massive action and when you take massive action you get massive results like Joseph that’s doing 60 to $90,000 a month from picking up the phone and calling people and then wholesaling these properties. It’s absolutely bananas. It’s just unbelievable to see Joseph. It’s really, really great.
Joseph Morando: Thank you, Brent.
Brent Daniels: Yeah. So to finish up this podcast, Joseph, just kind of give us one thing, like give us one thing that you are working on right now in your business that you know that if you implement this you are going to just take it to the next level.
Joseph Morando: One thing, I think is just following your path Brent. Following somebody that’s already done what you want to do and and that you gave us the million dollar blueprint. You spend a day with your students and just implementing that blueprint, and not reinventing the wheel.
Brent Daniels: Beautiful. I love it. And just like Joseph was saying, if you are interested in joining the TTP program, if you are ready to be proactive to get your costs down through your marketing budget and get your profits up from the biggest, best juiciest deals in the marketplace, go to www.WholesalingInc.com/TTP, set up a call. 20, 30 minutes calls, it’s phenomenal. It’s just going to be a phenomenal call. Set it up. Do it today. Don’t hesitate. You owe it to yourself to get on there. If it’s a right fit for you, I would love it for you to come up and join Joseph and I on the 19th floor. Spend some time with us and really deep dive the business and gives you as much information as possible so that you can get to that million dollar level.
So remember also, wholesaling summit coming up. Joseph and I will be there live October, 15th to the 17th. This is in Asheville, North Carolina. WholesalingSummit2018.com. Make sure that you get there and register. It’s already two thirds full. Get in there. You know everybody’s going to wait till the last minute. Get in today, get registered for it. It is going to be the best event of the year. And I think that’s it. I love that you were on here with me Joseph. I know you’re just down the hall. I wish we could have done this face-to-face but technology, whatever. It makes it easier. But I love you brother. Thank you so much for being on here.
Joseph Morando: Thank you Brent.
Brent Daniels: And everybody out there, until next time, I love you and I encourage you to talk to people. Go get them.