While there are multiple factors that can contribute to wholesaling success, many wholesalers credit their success to one thing—consistency. And this is something today’s guest can also attest to.
Brett McCollum is an inspirational rhino from Gainsville, Florida. The gracious husband and father of two is only doing wholesaling on the side. However, thanks to his consistency, he’s been closing one deal after the other.
If you’ve been wholesaling for quite sometime but still have not gotten the results you are looking for, today’s episode is for you. Aside from the importance of staying consistent, Brett also shared so many gold nuggets that will surely change your wholesaling game for the better.
- Brett consistently sent mails to the non-owner high equity list. Around his 3rd round of mails, he got a call from a motivated seller.
- Even if he was able to already close deals prior to joining the tribe, he still chose to follow the tribe’s script and was able to schedule an appointment.
- After just 8 short days, he was able to purchase the contract for $45,000, sell it for $53,000 and walked away with an $8,000 reward for the impeccable service he provided!
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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Cody Hofhine: Welcome to another episode here on Wholesaling, Inc. my name is Cody Hofhine, I’ll be hosting today’s episode. And I am super excited about today’s episode. I’m actually excited about every episode. This is where we literally help you, the listeners, hear step by step how individuals are doing deals wholesaling real estate. So for those of you that are new to the podcast, we will specifically be talking about wholesaling real estate. And that simply, in an easy, easy definition, is just finding deeply discounted properties. Now, the money to be made in real estate is always in the finding of the property. It’s not what you sell it for, it’s how much you buy it for. So we’re going to show you tips, tricks, gold nuggets specifically around wholesaling, how you can find these deeply discounted properties. And I’m talking 50, 60, 70 cents on the dollar, so that you can then turn them for huge profits.
So please get a piece of paper, get a pen, and get ready to jot down some information, some gold nuggets, some tips, some tricks that will help you take action today. This podcast will do no value, it may make you feel good, it may inspire you, but remember, the power comes from not just knowledge but acting upon the knowledge you receive. So jot down some things that you will take action on today. Not tomorrow, but today, so that you can get one step closer to doing your first wholesale deal.
Today we have Brett McCollum, a tribe member since June of 2018. He’s from Gainesville, Florida, married with two kids and one on the way, and he is just a part-time wholesaler, doesn’t do this full time, and he has come across these deals that we’re going to be talking about. We’re going to deep dive one of the deals that he just recently did. He does a full-time job as a marketer and business developer. And so we’re super excited to have him on the show, because he’s going to let you know how you can do this even part-time. You don’t to do this … I think the common concerns people have is, do I have to do this full time? This is living proof, today’s episode, that you do not have to do this full time, but I’m sure it is Brett’s goal to go full time. So without saying any more, Brett, my man, how are you doing? Fill in the gaps and help us know a little bit more about who you are.
Brett McCollum: Perfect. Well, Cody, I’m blessed and honored to be here with you guys today. Super humbled, so just thank you, thank you for having me. Hopefully I can maybe provide some kind of value out there for you guys.
Cody Hofhine: Well, I think you will. I don’t think you will, I know you will deliver the value. You’re a good man with a good heart, and there’s going to be plenty of listeners that, even if you can just connect to one person, one person, you’ve done your job, brother.
Brett McCollum: Awesome.
Cody Hofhine: So I know you’re going to be connecting to more than one. And let’s hear a little bit more about the background story and what really got you into wholesaling.
Brett McCollum: Yeah, that’s perfect. So I’d say I’ve been only wholesaling, like I said, I’ve been with the tribe since June, but I tested the waters in November. What ended up happening-
Cody Hofhine: Of 2017?
Brett McCollum: ’17, yes, sir.
Cody Hofhine: Okay. So we’re coming up on, basically, a year since you dipped the toe in the water and got hooked.
Brett McCollum: That’s it, yeah.
Cody Hofhine: Okay.
Brett McCollum: Yeah, so it’s a weird scenario where, without getting too deeply into it, in May or so of ’17, just wasn’t making the kind of income I needed to make at my full-time job, which by the way, I’m still at the same job. Sat down with my bosses, sat down with them and just trying to figure out what we could do. I wasn’t even at market value for the position I was doing. We just weren’t seeing eye to eye on that. And it just kind of led me into my search, if you will. Prior to that, though …
Cody Hofhine: Bless those bosses, I love this. It made you take massive action. I already love these guys and I don’t even know them.
Brett McCollum: Exactly. I’m so grateful to them, because if not for them I wouldn’t be doing what I’m doing today. However, so before that my aunt was, is rather, a real estate investor. She fixes and flips, that’s her game. And she had been letting me invest any money I could into any deal she had, and whatever the profit was, she would just give the money back to me. Just a way to bless me and my family. And it got to the point where I didn’t want to be a taker any more, because I just felt like that’s what that was. I was just being a taker. And I said there’s got to be a better angle to this. So she was talking to me about some ins and outs, and wanted to develop more rental properties, do 1031 exchanges, things like that. It just was too complicated for my lack of knowledge at the time.
And I literally, in searching, just stumbled across wholesaling with a well-known wholesaling coach that wasn’t you guys. And I said okay, and we listened to some of these podcasts, watched some YouTube videos. I said, “I’ll test it. I don’t know if it’s worth anything.” Literally this is how it went for me. And I know everybody’s going to go, “Are you kidding me?” It is, it’s how it went. I called a “for sale by owner,” met him at the property, talked to them and everything. I just connected with him, I knew the basics, like build rapport, build rapport. Did that, took down the deal at 130, ended up selling it for 140, and made $10,000 on a “for sale by owner” on the first meeting I had with him. I was like, “What in the world is this right now?”
Cody Hofhine: Hey Brett, hold on one second. Because here’s the beautiful thing. Here’s what I love about this story already. I’m smiling from ear to ear because this so resonates with the message that needs to be shared already, out of the gates. And that is, you do not need to be an expert. And I think so many people think, “I’ve got to be an expert real estate to know what I’m doing.” And yet here you are, the most imperfect knowledge base person on the real estate. You’re kind of like, “Hey, I heard this, and why not? Let’s go try it.” Now, the crazy thing is, the first person you talked to lands you 10 grand. This is crazy. I love this, because this probably just made you that much more addicted. But it’s probably like, “Aw, man, I probably should have had it harder, because now I’m going to think it’s this easy going forward.”
Brett McCollum: Well, exactly. That was my wife’s … She’s like, “Wow, this is great.”
Cody Hofhine: “Quit your job tomorrow, come on.”
Brett McCollum: So we’re talking, and then it just kind of went into that lull period of, “Okay, oh my gosh, how do I do this now to sustain?” And that’s what ultimately led me over to you guys, is I was trying to throw spaghetti at the wall to see what stuck. And looking back I’m like, “My goodness, I probably wasted a lot of money.” And I’ve been listening to-
Cody Hofhine: I usually will tell people, whether it’s even us as mentors, I am totally fine and Tom’s totally fine with this answer, by the way. Whether people pick us or not, we are totally fine with that answer. We love serving the ones that we are a good fit for and that it blesses your lives. We’re not a fit for everyone, but I would still tell you, find a mentor. Because you just nailed it perfectly, and that is, you’re going to pay for your education. Whether you go through a mentor or you do this on your own, you will pay for that education.
Brett McCollum: That’s the truth. Well, that’s what led me to you guys, is listening to the Wholesaling, Inc. podcast, I just knew that I knew that I knew, from a vision standpoint of you guys and what you looked at and how you looked at business, and not just about how much money can I make, but how much value can I bring to people’s lives? How much can I serve people, how much can I do that? And I was like, “That’s me to my core.” And I didn’t identify that way with other people. Because I did research and look at other mentorship, and nobody came in to that level of of servitude first instead of money first.
Because that’s where a lot of people I’ve found come in, as money first. And I learned a long time ago you don’t take money with you when you die.
Cody Hofhine: That’s right.
Brett McCollum: But if I can change lives along the way, and for the better, that’s what we’re called to as people, is to … Well, you say it all the time in this way, how much value am I bringing? Value isn’t just about money. It’s about, can I affect positive change in people’s life?
Cody Hofhine: That’s correct. That is absolutely correct. Such a good perspective. And I’m telling you already, for those of you listening today, there should be already a half a page of notes. As I’m sitting here I’m writing down five things already that are just key, key points. It’s that service mentality. Brett, I’m just going to let you keep going. This is gold nugget central, my friend. I’m just going to keep letting you flow, so let’s do this. Let’s deep dive. Get right to the meat and potatoes of this most recent deal that you did.
Brett McCollum: Perfect.
Cody Hofhine: Let’s go right to it and let’s help them understand, this is all about adding value to even our listeners’ lives, no different than the way you add value to your sellers’ lives. Let’s look at a way, right from the get go, how did you market these people? What list did they come off? Let’s talk about the nitty-gritty, how these individuals listening today can literally take action on something.
Brett McCollum: Perfect. Yeah, I’ll scale it back and try to make it as super simple as I can. Like you mentioned, I do work a full-time job. I’m putting in about 50 hours a week into that, but I’m on the road literally every day. The company I work for has seven offices in five cities. So I’m all over the place at any given point. But that offers me a ton of time to talk to people on the phone. Because of that, I can talk to people when they call in. So I joined the program in June, went through from the beginning, even though I’d done a few deals. I had one fall through, it was supposed to be five, but I had four deals completed by the time I joined. So I had a loose idea of wholesaling, but I also knew I didn’t really know a heck of a lot. So that’s why I joined. Followed it from the beginning, pretended like I knew nothing, and just followed the [inaudible 00:10:39] as laid before us.
So I mailed out to, it was a non-owner occupied list.
Cody Hofhine: High equity, okay. Non-owner equity list. Okay.
Brett McCollum: That’s right.
Cody Hofhine: And did you get that, is that from your list source account that you have, listsource.com?
Brett McCollum: Yep, off of listsource, that’s correct.
Cody Hofhine: Perfect, perfect.
Brett McCollum: Did that. So this call came in, I was around my third round of mail, call came in. And I took down, followed the script. I talk to people every day in marketing, dude, I can talk to people well. I only did four deals. So I took to the script, even though I know how to talk to people, I said, “This is what works.” Followed the script, got an appointment. Well, when I went out to the appointment, here the story gets a little interesting.
Cody Hofhine: We love interesting. There is nothing normal or standard about wholesale deals. And you’re going to realize that really quick.
Brett McCollum: I show up to this house and I said, “This looks familiar.” I had had another wholesaler call me. I’m in Gainesville, this guy’s out of Jacksonville. He said, “Hey, can you find a buyer on this for me and we’ll split the deal?” I said, “Sure, why don’t I see what I can do. What are you trying to do?” So he sent the numbers, and the numbers were just really far off. Really, really high. He’s not from here so he didn’t have good comps or accurate comps, because he didn’t know the neighborhood. And I said, “Yeah, you’re going to have a hard time. The numbers are off.” He said, “Okay, never mind.” Well, the contract fell through. So I did a courtesy call and told him, said, “Hey, I didn’t undercut you on this. Contract looks like it fell through. I’m meeting with this seller, just to give you a heads up.”
I didn’t want there to be any kind of bad blood between us in any way. So I show up to the house, and I was super familiar with it already. I needed the numbers to be, because I had already ran the numbers. When he called, this other guy calls me. And I walk in and I said, “Hey, I’m very familiar with this.” And I just told them what happened. And so they’re like, “Well, what do I need to do?” Comes out in conversation that they’re three years behind in taxes and there’s a lot of motivation. I said, “Well, if we do these numbers today like this, I already know buyers that we can get this.”
I’m very transparent with people. They know that I’m a wholesaler. You say at [inaudible 00:12:39] you be a truth teller and a truth seeker. I tell them that from the beginning so that there’s no confusion. Andy Stanley says to be unclear is to be unkind. That’s one of his popular phrases. So I’m very clear with people. And I said, “I’ve got somebody, we can get this deal done right away.” And they’re like, “Wow, because we need to to beat the auction, the tax auction,”
Cody Hofhine: They’re calling you in the 11th hour. Here comes the auction.
Brett McCollum: Exactly. And I probably could have offered them less money, but I also wanted to be fair to them. It was a lady in her 80s, this is the only money she’s going to get. Probably this is going to be it for her.
Cody Hofhine: Okay, you’re going to have to hold this mindset, because I really, really love where you’re going, but I have to capitalize on something.
Brett McCollum: Sure.
Cody Hofhine: Look how much honesty and forthright. So those listening, I want you to understand, this is a very honest, ethical, beautiful piece of work you can do here. This is amazing, what Brett is talking about. Here he is being forthright with the first person, who didn’t even have to call. Their contract fell out. Calls them so there’s no bad blood, then moves forward and is a truth teller and a truth seeker. Lets them know, “Hey, I’m familiar with this. I know where my numbers need to be. Here’s what it needs to be.” You know you could probably get it lower, but you are here to just say, “Hey, I’m going to help you get out of this mess.” And you’re being honest with them. You probably could have got more money out of it, but you didn’t want to do it. You’re doing the right thing.
I cannot tell you guys how important this is. Your name is worth everything. And if you start to do bad deals, that name gets out very, very, very quick. And so what Brett is sharing with you is so crucial to make sure that you adopt, and is who you are right out of the gates. You want to always work, like he said, truth seeker, truth teller.
Brett McCollum: That’s it.
Cody Hofhine: You are really here to bless other people’s lives and help them out of these situations. The byproduct is, you can make money for it.
Brett McCollum: That’s right.
Cody Hofhine: But you don’t go in there thinking about making money, making money. It’s how do I help this individual? No different than if my mom gave me a call today and said, “I’m losing my house to being three years behind on taxes. Would you say, “Okay, Mom, how can I make the most money on you?” No, you would help your mom get out of this situation. And the reward is, you’ll get paid a little bit for it. So keep going, Brett. I love this, by the way. I’m sorry I had to cut you off, but keep going. I hope you have not lost any mindset of where you’re going.
Brett McCollum: That’s perfect. No, and it’s funny you mentioned that, because that was exactly my mindset, is if this was my mother, how would I treat her? That was it. So I knew the numbers really well, I ended up getting it under contract at $45,000. And that way taxes were going to get paid off out of that, out of their proceeds. And she was still going to walk away with a considerable amount of money, because she had owned this property since like 1964. I was like, man, she shouldn’t walk away with nothing. But I was able to get it sold and closed. It was like eight days top to bottom, and for an $8,000 assignment.
Cody Hofhine: $8,000 assignment. So you were able to sell it for $53,000 to a cash buyer.
Brett McCollum: That’s right.
Cody Hofhine: That will then either fix and flip it, keep it as a rental, whatever they want to do with it. Maybe even personally live in it. But for helping this individual out and accomplishing something that no one else could do, you were able to walk away with it paid and it paid you $8,000.
Brett McCollum: Yep.
Cody Hofhine: Brett, my man, get ready for the manual victory bell.
Brett McCollum: There we go.
Cody Hofhine: As we are keeping this very consistent from the last few podcasts, I’m in a temporary office, so here it goes. Ding, ding, ding, ding, ding, ding, ding, ding, ding. And you will be mailed, by the way, a real victory bell for doing such an amazing job. Brett, my, my, my. I’m listening to this and I’m jotting down so many good gold nuggets that each and every person listening to this should do. First and foremost, he revealed where he gets his list. That’s listsource. Secondly, he told you what list he’s really going after, and that is the non-owner occupied that have equity in their home. The beautiful thing is, you get that listsource list at a deep discount with the tribe discount, which is super, super easy. So that dollar goes a lot further.
But you said direct mail, right? This is done through postcards you had sent out multiple times, and you’re on your third round of mailing this list. So here’s the key thing that’s not said, but I want to make mention …
Brett McCollum: Yeah, here we go.
Cody Hofhine: … Is consistency of staying with the marketing. If you give up on marketing, it’s guaranteed you will not get a deal. So even though he went through two other rounds unsuccessful, he consistently still mailed to this list. And third time around, gets his deal.
Brett McCollum: Cody, can I [crosstalk 00:17:21] on that real quick?
Cody Hofhine: Yeah, let’s go for it, brother.
Brett McCollum: So that same list, so just so you know, I still have not completed … The studies that I’ve researched, four to six times mailing the same people, that’s where the bread and butter is at. And I’m now on my-
Cody Hofhine: Because this is your background, right? You’re in marketing and business development. I’m assuming you know this stat statistically just nationwide for all business.
Brett McCollum: That’s exactly right. So I’m now on my fifth round. This was my most recent. This is the fifth round of mailing that’s come out. And since then I’ve also taken down … That deal is already closed, another one is set to close Monday, and I’ve got another one in the pipeline, all from the same list, and I still haven’t completed that list out yet. So just stay consistent with it.
Cody Hofhine: Oh, I love this so much. So on this next one that’s set to close here in the near future, what’s the assignment that you’re looking to make on that one?
Brett McCollum: 12K.
Cody Hofhine: 12K all day, keep the doctors away, and soon corporate America bye-bye. This is what we’re talking about here. There are so many people that are looking to escape corporate America. They’re looking to have more time with family, go on vacation, and ultimately get into a business where when you’re gone on vacation you don’t suffer and the paycheck stops coming.
Brett McCollum: Exactly.
Cody Hofhine: Wholesaling allows you to do that, and ultimately the future, Brett, what’s beautiful for what you’re doing is I know you’re wearing all the hats right now, and I know you’re burning the candle at both ends of the stick. But brother, this is going to produce an incredible business in the future, that you can get a team in place, get systems in place, that you can automate, that you can scale up, and ultimately live the life of your dreams on your terms. And this is something, I put a huge smile on my face and say keep doing it. It’s worth it, brother. It’s absolutely worth it.
Brett McCollum: I fully endorse that. I know that probably you talk about it a lot, but I just find it to be really important as you’re growing the business, because I don’t think it’s going to be as much as you want it to be if your family isn’t helping alongside you. So we set some very healthy boundaries so that we can do this together.
Cody Hofhine: So true, so true. And I can’t tell you, in fact, it almost brings a little bit of tears to my eyes how important it is that you have a supportive spouse in this. So for those of you that are in wholesaling, and hopefully husband and wife are listening to this episode, a little shout-out of how crucial, if your husband, or vice versa or your wife’s in wholesaling, how crucial it is that your support is there. I never could have done this in a million years without the support and love of my wife, Wendy. Without that support there’s no way I could be where I am today. And so I’m so glad you’re bringing that up, set those boundaries, but ultimately support each other, support her in her role of being a mother and being a father and taking care of the kids together, and have her support you in return. Now I’m saying that in this situation, so it could be that your wife’s wholesaling and you’re doing something else, but in this specific, with what we’re talking about here, it’s so crucial, regardless, is to have that support and be on the same page. You’ll see more success come that way.
Brett McCollum: Yeah, love it.
Cody Hofhine: Well, brother, you know how this ends, it ends the same way every day, every time we do this podcast. And so I’m going to ask you two questions that you’re probably familiar with because you’ve listened to the podcast.
Brett McCollum: Yeah.
Cody Hofhine: The first and foremost is, what if you were to look back, hindsight’s always 20/20 vision, looking back now and knowing what you know at this moment, what would you have done differently if you were to start all over again?
Brett McCollum: Perfect. I was on the fence a lot about mentorship, when to do it, when to pull the trigger. The right answer is right now. That’s the best way I can think, because we don’t always-
Cody Hofhine: When is the best time to plant a tree?
Brett McCollum: Exactly, right now.
Cody Hofhine: 20 years ago, and if you didn’t do it 20 years ago, today.
Brett McCollum: We keep hearing this over and over on the podcast, but it’s the absolute truth, is you’ve just got to stay consistent. And I’d pull down a deal, I pulled down four deals before I joined, and I had no consistency. So getting that train back going again on marketing just kept taking forever. And since I’ve joined I’ve just cleared the focus up and just stayed really, really, really consistent. And it’s hard to slow down a moving train. So just got to keep the train moving. I wish I would have done that in the beginning.
Cody Hofhine: I love it. That’s worthy. I love that, that’s an awesome gold nugget. Keep consistent so that big mo, momentum, comes and helps push that train. Secondly is one book that you’ve recently read that is a game-changer, that’s an eye-opener, that’s helped you with maybe mindset or with consistency or whatever you want to say is, “This is my a-ha moment.” What’s a good book that you’ve recently read that would help our listeners?
Brett McCollum: Well, if it’s all the same, I can be brief, but can I give two?
Cody Hofhine: Yes, let’s hear them.
Brett McCollum: Because I like to read, it’s development, it’s growth, it’s everything that way. I was trying to think of a book that I found really, really impactful that we don’t hear about oftentimes on the podcast. And the book’s by Andy Andrews, and the book’s called The Noticer. Basically it’s a story type of book, it’s not so much a self-help book as much as a story book. But basically it’s a book about perspective. And the perspective is, the people that we’re getting deals from are oftentimes in just really tough times and rough situations. Help them find that focus and clarity and say, “You know what? Life isn’t that bad. I’ve got things to live for. I’ve got things to move toward, I’ve got things to do that.” And that’s what The Noticer’s about, is noticing that life isn’t exactly as bad as it needs to be. And if we can take that for our own life, but also impact our sellers in saying, “Hey, I can help you beyond just selling your house.”
Cody Hofhine: I love it. I love it. Go over and above. And I think the old adage that I really love is delivering more in value than you ever charge in price. And that comes from, one of the philosophies I love comes from The Go-Giver from Bob Berg, saying you always deliver more in value than you charge in price. And I love that you say you go over and above the house. How do I continually serve this individual and still help them more than just saying, “Hey, how do I buy your house?”
Brett McCollum: Exactly.
Cody Hofhine: It’s how do I help these guys keep moving forward, not just because of the house? So I love that. Awesome, awesome, awesome book. I wrote that down. I have not read that one. I’m excited to actually get on Amazon and buy it, my friends. So thank you for actually the new book to me.
Brett McCollum: $6.19 cents on the paperback.
Cody Hofhine: Yeah, even better. We love it. We love it.
Brett McCollum: That’s it.
Cody Hofhine: Well, Brett, my friend, I can tell you this has been an awesome podcast. There’s so many people that are here listening, wondering if they have to do this full-time to be successful. There’s people thinking, “Can I do it working for corporate America? How do I escape corporate America?” And as a goal, maybe just to hear what your thoughts are to help people maybe listening, what it is you’re looking for for the future. How far out do you see yourself saying, “You know what, by this point I see myself being consistently doing this where I can literally walk away from my job”?
Brett McCollum: Yeah. I feel like I’m already close, but I want to see three months of continued progress. So I know what my current budget is and my salary, and I want to see 30% above that consistently for three months. That’s something my wife and I have talked about. So realistically, January 1, full-time wholesaling.
Cody Hofhine: I love it. Now, here’s the beautiful thing. If you can see what you can replace your income consistently for three months, here’s the beautiful thing. If you’re seeing that consistently, so everyone listening, here’s the best part. He’s consistently replacing his income part-time. So when he actually goes full-time, that will also translate to a bigger payday than what he’s currently receiving at corporate America. So I love it, Brett, that’s awesome stuff. Thank you so much for being on the show. Thank you for the value that you add to our listeners’ lives, and I know there’s so many great gold nuggets from this episode that they’ll be able to take away and actually implement today to get one step closer to their first deal. So thank you so much, Brett.
Brett McCollum: Thanks, Cody, it’s been a blessing. Thank you.
Cody Hofhine: Okay, now listeners, you’ve listened to an amazing episode here. This is one that I will personally be re-listening to. There was so much value given here, and I want each of you to know that your goals, your dreams are absolutely worth it. Is it tough? Yes. Brett will tell you all day long it’s not easy, but it’s simple. You can follow this step-by-step process and it can work for you. If Brett can do it, if Cody can do it, if Tom can do it, and all the many people we’ve interviewed on this podcast can do it, why not you? You guys can absolutely do this. And to learn a little bit more about how you can do it, you can go over to wholesalinginc.com, that’s wholesaling I-N-C.com. And if it were me, I would click on the podcast tab where you can listen to more stories just like Brett, but also listen to the reviews tab. There’s over 100 videos on that website of people doing it all across this great nation. And it will inspire you and motivate you to let you know you can do this.
And then just coming up here in the next couple of weeks, if you still have not purchased your ticket to our North Carolina event in Asheville, and hopefully the hurricanes stop before we get up there, but I’ll tell you, October 15th, 16th, and 17th, that is the place to be so that you can learn more from the best of this industry. They’re going to be up on that stage sharing their knowledge, their gold nuggets so that you can walk of there with a lot of value and have your business just continue to progress. So until next time, we are grateful for you listening, we hope that this has delivered value. Go take action and go get one step closer to your first deal, and we’ll see on the next episode. God bless, guys.