Posted on: December 06, 2018

One amazing thing about wholesaling is you don’t have to be experienced to earn big. In some cases, you don’t even have to do it full-time. Just go ask Abram Mitchell.

Abram is a dedicated, focused, and driven wholesaler from Lafayette, Louisiana. The full-time student and part-time wholesaler and entrepreneur is just 20 years old. However, despite his age and lack of wholesaling experience, he has already closed his first deal and even earned a whopping $32,000 for his efforts!

If you think your age and lack of experience can hinder you from achieving wholesaling success, think again! Abram’s story is a testament that as long as you stay driven, focused, and consistent, you will be unstoppable!

The Deal:

  • Abram called people on the absentee owner list and found a tired landlord who would want to sell his property.
  • While talking, he learned seller had another property he also wanted to get rid of.
  • After all was said and done, he walked away $32,000 richer. Truly a massive reward for someone who has yet to master the amazing art of wholesaling!

RESOURCES:

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Episode Transcription

Brent Daniels: Welcome back everybody to the whole ceiling inc podcast. It is your host, Brent Daniels and I’ve got an exciting interview today on this podcast, so stick around. I’ve got a 20 year old who is doing fantastic things out in Nashville, Tennessee that I’m excited to introduce you to, but first the thought of this podcast, it comes down to one single word. That word is focus. Okay, focus. I see the biggest number one issue I see with absolutely every single one of my students or people that DM me or hit me up on Facebook is I just can’t get my schedule under control. I can’t seem to stay consistent in my business. I started having great months and then it goes down because I get unfocused and I let all these things come into my life. All these distractions come into it. I feel like I’m undisciplined because I can’t time block and keep like the momentum going in my business.
I keep starting and stopping, starting and stopping and is because of one word and that is focus. I don’t care if you’ve got a full time job. I don’t care if you’re a full time student, I don’t care if this is what you do 100% of the day like this is your full time gig is wholesaling number one thing you have to remember something you have to write down and keep in front of you is the word focus because there is a million different things that are going to distract you. Success distracts. It absolutely distracts. It makes you start thinking of all the other things that you want to do besides taking action and talking to distress homers on a daily basis, so focus, focus, focus. Make sure you time block certain times. Start the days that you are going to speak to a homeowner and wake up every morning with this question.
Who am I going to talk to today that’s going to sign a contract. You do that and you are going to be an absolute superstar so with that I want to introduce you guys to a phenomenal young man. He is just, he has taken this business by storm. He is really dedicated. He’s a full time student in Louisiana, but he is selling properties. He’s wholesaling in Nashville, Tennessee with his uncle as a business partner. Abraham Mitchell, say hello to everybody.

Abraham Mitchel: What’s up man, what’s up everybody something to try to [inaudible 00:03:26] everyone out there.

Brent Daniels: That’s it. I love it.

Abraham Mitchel: I know from Louisiana.

Brent Daniels: So where are you living?

Abraham Mitchel: On Lafayette to be exact.

Brent Daniels: Okay. And how did you, how did you as a 20 year old stumble into wholesale real wholesaling real estate?

Abraham Mitchel: All right, is not too long of a story. Basically like you mentioned earlier, my uncle is my partner, so like I told you that he’s a real estate investor. So he has his job and he invest in real estate from new construction to acquiring rentals, you know, all sorts of things and all, that’s just something that he’s been in my ear about because I’m very close with him and he tried to just explain projects to me and he be like, yeah, you got to get your credit score up or things like that so you could get loans and get in on these new construction projects and what not. Things like that. So long story short, one day we were on the phone about five months back in May or something like that. He mentioned some wholesaling and to me I didn’t know what it was and he was like “research that.”
So I guess she was just seeing if I really was going to do it or not. He said research study called wholesaling. So that’s when, you know, I’m just typing it in wholesaling, start finding out what it is. And then I basically just fell in love with it. Like it was like some hidden passion I have for real estate that I didn’t know I had because.
The first podcast I started looking at was Max Maxwell’s.

Brent Daniels: Sure.

Abraham Mitchel: And then I looked at yours, well you are the wholesaling inc. And I’m like, man. And I’m calling him, I’m like, “man written to do this, I’m ready to do this. I need, I need 20 deals before the summer’s over.” I’m thinking this the easiest thing and all that. So then I actually had a trip to Atlanta, something with my fraternity.

Brent Daniels: awesome

Abraham Mitchel: Up there, And I arranged it to where I flew straight from Atlanta to Nashville. So this was probably all in a week span for me finding out what wholesaling is and flying to Nashville cause I’m like, I got to sit down with you and talk about this. So I went up there and then I had lunch with him and one of his friends who is a wholesaler in Nashville and he was actually just coming back from the all-in REI event.

Brent Daniels: Yep yeah,

Abraham Mitchel: Yeah we call those Reyes and you know he was coming back from that. So I had a lunch with him and he was just, you know, just telling me things, small little gems that he could give me. I didn’t really understand all of it at that point. But now I understand a lot of things that he was telling me at the table. Gosh, he told me a lot of stuff that he probably paid for to learn that knowledge for someone for that.
And the number one thing he told me was to stay consistent. I mean it was the number one thing he told me, and that’s probably the best thing he told him cause he was just like “look, you look out there and you might get a deal tomorrow, you might get a deal next week, you might not get a deal til six months from now. But you stay consistent. I guarantee that you will get that deal.” So that’s something that stuck with me. And basically I flew home to Lafayette and basically we were just dabbling in both markets. So Lafayette Nashville into one just stuck. Nashville stuck. I mean at first I was just driving through dollars around Lafayette at Baton Rouge was about 45 minutes out surrounding cities.
I got in something by this guy named Cameron Dunlap you could get like all this stuff. I signed up for a trial or whatever and it has the numbers and I was calling him and was “Look, I got my notebook right here.” I was just, I mean look right now, all that down right. I’ll know if you could see, but I haven’t written all on here just calling and that’s basically all people don’t just write down the numbers because at first I was just looking at it on my phone and switching over and typing the numbers. I was like, okay, I’m going to just write down a number and start calling them. The numbers weren’t really accurate. That was a mess. Well, I was just taking action basically what you all say to do. They’re not finding,

Brent Daniels: when you talk about consistency, what do you mean by that? So if [inaudible 00:07:40] because consistency it can mean a million different things to different people.
So what does it mean to you?

Abraham Mitchel: Consistency, so basically to me what it means is doing something that’s moving forward and keep going, even if it doesn’t work on the initial try. The thing to me was when I first started learning about wholesaling and I just broke it down until okay, you have to market to people. You have to talk to sellers, whether you’re sitting out direct mail, whether you are door knocking, driving through dollars doing bandit signs, or cold calling. So my thing was I needed to talk to someone every day, whether it was drowning for dollars or calling. That’s the two things that stuck with me the most. I never was really interested in direct mail. I know it’s something, but people told me it was very expensive. So I knew I didn’t have too much money to work with. So cold calling and driving for dollars was just my thing and I was on the phone every day talking to people.
I mean I didn’t really know what I was talking about, but I learned something.

Brent Daniels: Hahahaa. Yeah,

Abraham Mitchel: You know what I’m talking about, but I would just calling and people, cause I’m not really, I’m not really one of those, I don’t want to sound cocky but I really wasn’t one of those people that scared to talk to people because just a little background information about me. All my parents, they owned a glass business so they’re self employed. So I’ve kind of been in that frame my whole life and I have a glass business out here in Lafayette. So whether it’s that and running my dad’s fireworks stands, he has those he does that every season. I’m really like accustomed to working with people from customer service, explaining people what certain fireworks do or explaining people the glass business, things like that. So I talked to a lot of people. I wouldn’t say it wasn’t any nerves because talking to them about real estate is different because I don’t know about real estate.
So you know, just I’m learning to on the call with them when I’m acting like, Oh my big doing this on my own. My uncle had an LLC, so I’ll just use his business. Oh hi, I’m Able with JC events, you know, just talking to people and um.

Brent Daniels: T-T-P,

Abraham Mitchel: Yeah T-T-P Lafayette and Nashville and like you said, focus. So that’s what I just started focusing on Nashville because it was just too much trying to scramble in each market. So then I was like, okay, we’re just going to focus on Nashville. And we liked the way that the national market is right now. It’s doing really good with real estate. The spreads are larger and yes, you want me to talk about the deal, the actual deal?

Brent Daniels: Just I, I want to make one point that you hit on there that I thought it was beautiful. One, you’re coming from a family of entrepreneurs, right? And that is fantastic. It’s such an advantage for you because early on you had to learn how to communicate effectively with people, whether they threw you into a sales position at a stand selling fireworks or whether it was explaining what glass, I don’t even know what kind of glass you’re selling, but you know.

Abraham Mitchel: Just placing windshields on vehicles.

Brent Daniels: Got it. Yeah. That, you know, just being able to communicate effectively with strangers is such a gift. It’s such a, a power, it’s such a talent. It’s such a skill. And it absolutely, if you guys listen to anybody listening and you would, you do not have that background that Abraham has growing up, that is fine. You can still get on the phone every single day and build those skills, build those skills by talking to people, new people every single day, which he just translated his experience from talking to people in other entrepreneurial activities too the real estate world, which by the way, the real aside, I mean, what else are you going to sell?
That’s that you know what I mean? I mean it’s the biggest, it’s the biggest price tag out there. It’s the best thing. It’s a cash machine. This is a money machine is hitting the lottery. So I just think that’s huge. So yes, I absolutely, let’s get into, let’s, let’s get into specifics I want to talk about from start to finish. A deal that you think will really just kind of let everybody know what your experience is all about.

Speaker 1: So I’m going to talk about my first deal because this deal here is just, it’s a mindset. It’s crazy. It’s stressful. It was a light but it was worth it in the end. I know. I’ll start by saying it was a cold call lead from um equity list.

Brent Daniels: Awesome. Owner equity or absentee owner?

Abraham Mitchel: Absentee owner. Yeah. Yeah. It’s absentee owner I mean it was rented but you know it’s been classified as an empty. But yeah I was cold calling and I called someone and I talked to this guy and talked to him about one of his properties. So this is one property and actually I’m asking him if he has any other properties. So we couldn’t agree on a price with this one property, but then he said he has another property and what he told us, he told me was he’ll give us both of them for a price.
Price was two 43 or something like that. It was high. It was two 43 for both of them. It was basically, Oh we got that. We put them on the contract, but we were really focusing on the one house. The other house that he told us about, not the initial one that I called about the other house that he brought up. So we had got him on the contract and we marketed them out, put them on Craigslist and all. We got someone that was going to buy it and I’ll kind of classify these guys like a first time investor. So he was using a loan and I don’t know if you remember when I texted you and you was like don’t really deal with people that’s using loans.

Brent Daniels: Yeah,

Abraham Mitchel: I mean I’ll just give a bunch of stuff with like it was really difficult and getting that to close because he was using a typical, I’ll call the FHA loan and then this is something that a first time buyer and we kind of figured out that you can’t even use that we can’t even assign.

Brent Daniels: No.

Abraham Mitchel: a loan because we would have to be the homeowner for like 30 to 60 for like 60.

Brent Daniels: 90 days.

Abraham Mitchel: For that to even work. So we had everything set up and waiting for a close for about a month and then the lender comes with some other thing that we have to get signed and the owner has the sign it. We’re like, if we let him sign this, he’s going to get the whole deal.

Brent Daniels: Yeah.

Abraham Mitchel: It wasn’t going to work.

Brent Daniels: Yeah.

Abraham Mitchel: What really happened was, I mean we wind up to where we didn’t have the other house and we just asked the owner and he was like, “can we get the whole house that we really want it?” So I could get it for 100,000. So he gave it to us and he said yeah, you can get it for 100,000. Now this home doesn’t even use.

Brent Daniels: So the first house to do. Did you have to cancel that one?

Abraham Mitchel: Yeah we couldn’t signed. it because it was the way we settled the contract we was going to do this one house was go have it for 100,000 and the other one for one 43 and one 43 was way too high to assign this house to someone that might want to rehab it on the market.

Brent Daniels: So to have like an end buyer that wanted to live in there at 143 but they had a FHA loan, which is not going to fly.

Abraham Mitchel: Yeah. So we’ll come back to that because it worked out with that house too. So we wound up getting the house for 100,000 so mine, I’m going to tell you, this guy is probably just one of the most tired landlords. He probably just didn’t want the house because the house is in good condition, doesn’t really need work, and there’s a lot of value in it because it has a full unfinished basement. So we got it for 100,000 the ARB is probably about 185 somewhere around there. And all the work that someone needs to do is probably just finish the basement.
So we found a buyer for that and it was someone that’s going to hold it. Told them, look you going to finish the basement, you can [inaudible 00:15:38] this thing and get a lot of cashflow out of it. That’s probably what they’re going to end up doing. We assigned it for one 35 so it was a 35,000 but we didn’t actually, we didn’t actually assigned it. I skipped some steps. Something went down where we were my uncle, my partner he actually had to buy the house.

Brent Daniels: Got it.

Abraham Mitchel: Right, He had the buy get the money from a hard money lender and that was very high interest in thing so that’s why it ended up being the check was for 32,000.

Brent Daniels: so you had to pay some closing costs and what not so your first deal you made 32,000

Abraham Mitchel: yes.

Brent Daniels: Hold on one second. I got to get away from the mic man.You say this [inaudible 00:16:26] woo.

Abraham Mitchel: I’ve been waiting on that for family.

Brent Daniels: Well deserved man. That’s,

Abraham Mitchel: Yeah I know it’s probably cloudy for a lot of people cause there’s a lot to explain that happened with this deal process probably was about two, three months, probably about eight to 10 hours of work. Man it was worth it.

Brent Daniels: Absolutely.

Abraham Mitchel: I’ll do it a million more times.

Brent Daniels: Yep, well and there’s an important point that you talked about there that you know when we’re taught in the TTP script that if they say no, they don’t want to sell the house that you’re calling about. The next question is, well, do you have any other properties you would consider an offer on? Right, and that’s exactly what you did and you were able to pull out from that seller that extra deal that maybe wasn’t there before.

Abraham Mitchel: Yeah, that’s definitely a key factor definitely ill be on the phone and talking to people. Make sure, I mean right is you and your cold callers made sure that asking everyone about that other property, because some assume that they’re just going to bring it up, but if you call them and ask them about one property that focuses on that one. You’d be surprised how many people forget properties that they own.

Brent Daniels: Oh yeah. Because you’re calling them out of the blue. Right. And you’re totally like taking them off guard. They don’t know what’s going on. They hear the words coming out of your mouth and they instantly give a knee jerk no. And you just say, Hey, I completely understand. You know, I totally get it. Do you have any other properties that you would consider selling? Maybe something that needs a little bit of work, Boom! All of a Sudden they’re back on you have that conversation.

Abraham Mitchel: Oh I do have that Property right over there.

Brent Daniels: Yep. Beautiful, Beautiful man. So how does it work? So how does it work between you and your uncle who does what?

Abraham Mitchel: So basically what I do is I’m the person that does basically the marketing. So I’m calling, talking to sellers, doing the negotiating over the phone and things like that. He’s doing the technical things and the groundwork, which is a lot for him. I give him a lot of credit because he has a full time job and kids and a wife, you know, that’s a lot of things. And his own real estate through, I don’t know if I mentioned he has new construction projects going on and things like that. So he handles contracts, going to the house, getting them signed more further negotiating with the sellers. And he handled the closing at the title company. He bought the house that he got the deal, cause I can’t do that.

Brent Daniels: Yeah.

Abraham Mitchel: That’s basically what he handles on the technical work.

Brent Daniels: Awesome, and you guys just split things 50/50.

Abraham Mitchel: Yeah, we split it off.

Brent Daniels: Awesome.

Abraham Mitchel: Split those expenses, all of that, pulling the list and we split all that mojo and caller all that.

Brent Daniels: How many credit hours are you taking right now?

Abraham Mitchel: Uh 15.

Brent Daniels: Woo full load.

Abraham Mitchel: I’m taking 15.

Brent Daniels: How is it taking 15 hours of college credits and running this business and having a glass business?

Speaker 1: Glass business so that’s just a different beast in his own because I’ve literally had to take a step away from my glass business. The only reason for the last five months or whatever, the only reason I was using my glass business was for this business. So I was making money with I made very good money with my glass business, but I was just using that money to fund this business because I knew the end game in this one,

Brent Daniels: yeah,

Speaker 1: there were days that I’ll just miss work with the glass business, I mean I just won’t go. How that works is I worked on a car wash lot. I don’t work for the car wash or anything like that. It’s just independent self contracting. So when I’m not there coming you know call me like, Hey, you still own, you know, doing it here and things like that. But I’m just looking into on maybe getting someone hired to handle that for me.

Brent Daniels: When do you make your calls?

Abraham Mitchel: I like to make mine in the evening.

Brent Daniels: Okay.

Abraham Mitchel: Because you get a lot of people answer. I feel around that time. I’ll make them in the morning before class, around ten sometimes and in the evening from six to eight around that time you get a lot. Sometimes I’ll get 30 contacts in an hour.

Brent Daniels: Do you have roommates or other people that go to school with you that hear you talking on the phone? And they’re like,

Abraham Mitchel: They’re right next to you, sometimes they ask me, Hey, what were you on the phone about all day. I’ll just be in my room on the phone. Like, man turn the music down. I’m on the phone. Things like that.

Brent Daniels: That’s awesome. I love it, dude. You’re, 20 years old doing all this. It’s incredible man.

Abraham Mitchel: Anybody could do it.

Brent Daniels: I’m just so excited for you. I’m so, I’m excited for you to be getting in and learning how to find and source deals so young and be able to use your skills and your entrepreneurial spirit and background to be able to put together this amazing business and wholesaling, which will only steamroll into other things. Buying properties or apartments or land or development or whatever. I mean, the sky’s the limit for you, but you found out early that learning how to source the deal is where it all. That’s the seed that grows all of this because I’m telling you, once you can do that, you get the biggest, best juiciest deals. I don’t care if you sell them instantly in wholesale or you flip them and make big profits or if you keep them and just let it be longterm wealth, you’ve got it figured out, man. I love it. That’s awesome.

Abraham Mitchel: I just heard you mentioned land. We actually try on wholesale from land and negotiated right when we were trying to wholesale and trying everything.

Brent Daniels: Yep. So you, do you have anything pending right now or is this, is this rolling? What are we doing?

Abraham Mitchel: Yeah. So the other house that we had with that guy, the two houses, we actually wind ed up putting it back under and finding a residential zone that’s just buying it to live there. And that’s 22 K pending on that on.

Brent Daniels: beautiful.

Abraham Mitchel: Yeah the albums and all the contracts signed us in Escrow. We have another one that’s where we’re assigned, so we’re trying to assign that one from fifth.

Brent Daniels: this Is all from TTP.

Abraham Mitchel: All from TTP. [inaudible 00:22:45] All of them are from the same list? Yeah, they’re all from the same list.

Brent Daniels: I love it.

Abraham Mitchel: So we’ll be pulling that one again,

Brent Daniels: so speak, speak to everybody right now that’s just starting out. Or maybe they’re struggling with a little bit of consistency. Maybe their focus is off. Like what advice would you give right now to somebody who’s sitting there with you that they’re like “Hey, I just need some help. Like figuring this thing out.” What would you tell them?

Abraham Mitchel: Well, I’ll just tell them what people told me from the beginning don’t get paralysis by analysis. So what I noticed from a lot of people is that they know what it is and that they just want to know everything. But you can’t know everything because this business changes drastically. I mean, five years ago, wholesaler was basically all direct mail and things like that. But I mean now there’s social media, I’ll these things, just all sorts of things. So how can you know everything in a constantly changing business,
High point to give to people is don’t be afraid to mess up. Don’t be afraid to fail because you learn the most from failure. I always say, I mean when you succeed, you succeed. You’re not learning from succeeding. You succeed because it’s a bunch of failures and you learn from those failures. So I mean the best part I did was failed numerous times and just stay consistent. Keep going. Don’t compare yourself to someone else that may have started wholesaling and got a deal in the week. Because I mean, I know people that got it on a weekend, you might not get another one for six months.

Brent Daniels: Yep,

Abraham Mitchel: People that didn’t get a deal for six months, but once they got that deal they got five more in the next month. So I’m going to just stay consistent and worry about yourself and the goals that you have separate yourself and regional.

Brent Daniels: I love it, I love it. And that goes back to the beginning of this podcast guys. It is all about focus. Do you want to know, the best way to keep focused? Is have goals big enough and have so much emotion behind them. Have those exciting goals that are in front of you all the time and just focus on those so you’re not spinning plates is spinning a million plates and having a million ideas and not taking action every single day. Cause guys, it literally comes down to just talking to people. Get in front of as many distressed homeowners or property owners as you can and you will win this business. You will win big time and you will have so much fun doing it. So Abraham, thank you so much. I’m excited meet Abrams coming to my office in the next couple of weeks. So it’s going to be awesome spending some time with them.
and anybody out there that is interested in learning the number one cold calling program in the country. Go to www dot wholesaling inc dot com forward slash TTP. Set up a call that’s wholesaling inc dot com slash TTP and you will get your PhD in talking to people. So absolutely check me out, check out this interview on video on my YouTube page at Brent Daniels real estate coach and you can see it then. Again, thank you so much, Abraham.

Abraham Mitchel: You’re welcome.

Brent Daniels: Tell everybody goodbye and we’ll see them next time.

Abraham Mitchel: All right, man.

Brent Daniels: See you guys,

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