While wholesaling offers numerous benefits that are hard to miss, one of the most enticing is the fact that you can get paid handsomely even if you’ll just do it part-time. And this fact is something today’s guest can totally attest to!
Hunter Jarvis has only been wholesaling for a few short months. However, while only wholesaling part-time, he has already closed 5 deals and earned a total of $77,000. That’s more money than some people earn in a year!
While his wholesaling journey has not been as smooth sailing as he would have wanted, Hunter’s dedication and fearlessness has made a world of difference.
If you’re looking for inspiration and game-changing advice before taking the plunge, today’s episode is exactly what you need to hear!
- Hunter sent direct mails to the tax delinquent high equity list and found his lead from there.
- While homeowner was a bit wary at first, he stayed persistent by doing constant follow-ups. In the process, he was able to build a good relationship and earned the homeowner’s trust.
- His dedication paid off big time when he walked away $26,000 richer from the deal. That’s a massive reward for a transaction he spent just 5 hours on!
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 wholesaling inc podcast episode. My name is Cody Hofhine. I’ll be hosting today’s episode and I’m super excited as I am with every podcast episode because this is now a time where you, the listeners, Rhino nation, can learn how you can take action and get your first deal or maybe your second deal or just get consistent at doing your deals. So here at Wholesaling Inc we are dedicated to giving you tips, tricks, golden nuggets from every episode that you can take massive imperfect action on so that you can get one step closer to your first deal. Now for those of you that are new to the podcast, first and foremost, I want to welcome you. And then secondly, I want you to understand that we are going to be talking about wholesaling real estate and wholesaling, to break this down so simple that you can’t make mistake, is simply the art of finding deeply discounted properties.
Now everyone knows that you make money in the purchase of the property, right? You make money at the beginning, not at the end. So if you know how to find these deeply discounted properties over and over again, that’s where the money can be made. And so today we’re going to be talking about exactly that, how one of our students was able to find a deeply discounted property and be able to turn it for a huge profit. And he’s going to share with you step by step. So get a pen, get a piece of paper, and get ready to jot down some instruction that you can take action on today. So today we have with us Hunter Jarvis. He’s from Dallas, Texas, and he just joined the tribe just a few months ago in June of 2018 and since then has already done five deals. Now guys, this is amazing because what this adds up for those new to the podcast is these five deals can be in just these short few months, more money than most people make in a year.
So I’m going to share that, but we’re going to break down details of just one deal. But he’s made $77,000 on these five deals, which is huge, which by the way, I’m going to ring a victory bell already on that. All right. And then he’s doing this, this the best part, he’s doing this part time. He’s not even doing this full time. Part time, he’s been able to do these five deals. He’s married, he has a kid on the way. And so help us understand a little bit more Hunter Jarvis, a little bit more about yourself and what in the heck got you into wholesaling.
Hunter Jarvis: Yeah, appreciate it Cody. Thanks for having me on the podcast. I’m really excited. I’ve been listening to you guys for a long time. So that kind of answers one of your questions of how I kind of got started and it was just all from listening to you guys on these, on these podcasts and just kind of, you know, slowly picking up tidbits here and there. I never, I never joined the tribe until recently, but I’ve been listening for a lot longer. So without you guys, I definitely would not be, I probably wouldn’t even know what wholesaling is, so I will…
Cody Hofhine: What made you commit? What got you uncomfortable enough to actually just do it? And I’m not saying necessarily, hey, what made you just join Wholesaling Inc but in general, what finally got you to just commit to go take action?
Hunter Jarvis: Yeah, so I guess I’ve just kind of, I’ve looked up to my dad my whole life. He’s an entrepreneur himself. He owns his own company and you know, I’ve always just looked at the freedom that he’s had as a guy that runs his own shop and doesn’t answer to any bosses, and is very successful at what he does. And so I’ve always known that to get to that point, I was going to have to be my own boss. And so I’ve always been on the lookout for ways to do that and how to get that kind of, how to get that rock rolling towards being my own boss.
And I worked for a real estate company at the time and I wanted to, I knew real estates what I loved and it’s what I wanted to do. I just didn’t, you know I was young, I didn’t have any money, I couldn’t buy any type of real estate myself. So I literally Googled how to buy real estate without any money. And wholesaling is what kept coming up over and over and over again. I found a dot com called Bigger Pockets, which everybody knows of now, but at the time I didn’t realize what it was. And everybody kept talking about Wholesaling Inc on there, and so I tried out you alls podcasts and started hearing all these.
Cody Hofhine: Who are these crazy dudes that are just like yelling and bring in victory battles and what the crap, no just kidding.
Hunter Jarvis: Yeah, no exactly but you know, it kept me interested. Every episode kept me interested. I had it an alarm set basically every Monday for the new episode or whenever, whatever day of the week I wanted to go on and get inspired and learn more and more and more. And so after awhile, you know, I kept hearing people talk about just take action, just take action. And so, you know, I just said to myself, okay, they’re telling me what to do, I need to just do it. So I went on, I think it was Listsource, bottle list and yellow did yellowletters.com sent my first mailing out and it was a big flop. Didn’t get any type of responses, but I knew that if I just kept doing it, that it would come in because that’s what you guys said. So you know, slowly but surely, that’s kind of how I started.
Cody Hofhine: Good gravy, Hunter. I love this, my man. So from now just getting into it, so you do this part time, which I think is absolutely amazing because not many people can say they make $77,000 in a year, let alone doing it part time, and in, let’s see, July, August, September, October, November, let’s say four and a half, five months that you’ve been doing this. That is absolutely amazing. What do you feel like ultimately allowed you to get into such a fast and quick start on this? What do you feel like you are doing right that allows you to get paid like this in five months?
Hunter Jarvis: Well, I guess when you summarize it like that, it sounds really awesome and clean and easy I guess. But I guess I’ll back up, in December of 2017 I did my very first deal long before I joined the tribe, but it was a struggle to even get to that deal. So that deal closed in December and I had been handwriting letters to code violations in Dallas since like July of that year, getting no type of response, nothing, sending out mailers on my own, getting no type of response. And so I finally closed that first deal in December, but I didn’t know what I was doing. I didn’t have a buyers list, I didn’t have a title company, I didn’t have a real estate attorney. I had nothing. So I had to partner with a wholesaler here in Dallas. I only made like 3,600 bucks on the deal because I forgot the very important detail of the buyer must pay all closing costs.
So you know, I didn’t put that in my contract. And so I had to cover the seller’s closing costs at the closing table because I couldn’t feel good about letting them take down some closing costs when I, the whole reason they called me is cause I told them I would pay for all their closing costs. But so I say all of that, long story short, it was a long road to get to where I’ve started to now get a little bit of momentum. But, yeah, so now I’m finally at that, at that point. But it was a difficult road.
Cody Hofhine: Fantastic. So I love this. And so each of you Rhino nation right now, there’s already some good golden nuggets already being thrown right here. And that’s first and foremost was he was already taking massive imperfect action. There’s so much quality already given for free just on the podcast that you can start taking action on and get involved in. The beautiful thing on this though that I love, Hunter, is the fact that most people truly do have to pay for their experience in the sense of yeah, you put out mail, I don’t know how much mail or how much money you put out, and that’s not important. But the fact of the matter is you also got paid $3,600 that ended up being where you learn something like you had an experience teach you something and that you didn’t have to pay for like traditional school. There’s no way a college is saying, Hey, take a class from me and we’re actually going to pay you the student.
So it’s a beautiful thing. So let’s, let’s hop right into this deal that we’re going to talk about, that we can add value to our listeners right now on something that they can take action on. And let’s go through step by step how you did this deal. And let’s start with first and foremost, what kind of list did it come from? And what was the marketing campaign? Was it direct mail? Was it Facebook? Was it, let’s go right to the get go. So what was the list and how did you market to this person?
Hunter Jarvis: Yep. So all of my marketing is direct mail and this particular list was off.
Cody Hofhine: Wait. Direct mail is dead, says everyone. And I don’t know why.
Hunter Jarvis: So I can [inaudible], but it’s not for me. It’s not for me/.
Cody Hofhine: I love it, nor for us. I love it.
Hunter Jarvis: Yeah. Yeah, I know the TTP has been very successful for a lot of people, but I am on direct mail. This list came from Agent Pro 247, it was a tax delinquent, a high equity list.
Cody Hofhine: Okay. So people behind on taxes but have equity in the home, right?
Hunter Jarvis: Yep, that’s right. That’s right. So I sent the list out and this lead actually came into me probably two months before I ever even took any action on the deal because the seller originally called me and we talked for a little while. She was very overwhelmed by the amount of investors that had called her and that she had spoken to and she just felt really flustered and kind of attacked by all these people. And so she was weary of me to begin with and you know, I did my best to just be forthright with her and honestly explain what I do and try to help her understand and make the whole process a little less scary for her. So some time went by and I kept following up with her and kept following up with her and building a relationship. And then finally after a couple of months she invited me out to her house to see the property.
Cody Hofhine: Let’s stop right there for one second, I’ve got to give a recap on how and what you just said and how this will deliver complete game changing advice right now. So everyone in Rhino nation listening to this, it’s not about the house. Let me tell you this one more time. It is not about the house and it’s not about real estate. What Hunter did so very well was differentiate himself from every other investor out there that’s only worried about the deal or the payday or the house. He worried about the seller, how to make this simple, how to make this not so scary. And ultimately over time kept following up and checking in on her and building that relationship of trust, which ultimately got him the appointment to go on this home. This is liquid gold worth more weight than the money that’s in most people’s bank if you will just establish that relationship like Hunter’s doing and Hunter, amazing job. It led him to what we’re going to talk to be a great payday. So keep going. I love this.
Hunter Jarvis: Yeah. Yeah. So you know, going further into the rapport building, I mean she was just honestly just kind of scared. She just, you know, people had just been calling her off the hook and everybody else was just worried about the deal, the deal, the deal, you know, how low can they get it and you know, trying to basically take a house away from her. And so when I went over there, I sat down with her, we opened up her, you know, she had a mortgage on the house. She didn’t really know how to contact her bank to get a payoff statement. So I helped her to call her bank and get a pay off statement and figure those steps out and get her connected with a title company to kind of tell her how the process is going to be run.
And so, so I could tell, you know, her whole demeanor started to change when she decided to trust me and that I wasn’t somebody that was there to just basically rip her off. And so that, that went a long way. But anyway, so we finally got out to the house. It needed a lot of work. She had, she actually had her granddaughter who was living in the house, but she was about to move away out of state and leave the home vacant. And that was her only source of income. And she didn’t, she was, you know, had really bad,
Cody Hofhine: So her daughter, did you say it was a daughter or granddaughter, that were renting it? [Crosstalk] that was renting but now it’s going to move.
Hunter Jarvis: But now she’s going to move, so she going to be left with a vacant house and you know, she’s an elderly woman and her knees were really shot and she couldn’t get up and down the steps even though the house needed a lot of repairs. And so she was just ready to get rid of it, but she couldn’t list it with a realtor or anything cause it was just torn up. So, you know, I walked through all of the steps that you guys take us during the course to basically eliminate every option other than selling the house to me, you know, we went through, you know, what’s a realtor you’re going to do for you? Nothing really. What about, you know, re-tenanting the property and leasing it back out. She didn’t want to do that. She didn’t want to go through the hassle and she just wasn’t in good enough health to do that. So we eliminated every option, which ended up being made at the end of it.
Cody Hofhine: Okay, so you established this relationship of trust. You’re helping her understand her options, that she could list this, that she could sell this to maybe a landlord or she could rerent it out and then ultimately she doesn’t want to do those options. She wants the speed and convenience to do business with Hunter Jarvis. What was it from there? What initially when you sat down and you put together this, this purchase agreement, what did you put the home under contract for? At what price?
Hunter Jarvis: Yeah, so I ended up putting under contract for $90,000.
Cody Hofhine: Okay, so $90,000 and I’m writing these numbers down $90,000 and then from there, help our listeners understand what takes place from there. How are they now, we find the deeply discounted property we put under contract at a deep discount. In fact, maybe what I want to ask you is, if this home was fixed up, we call it ARV after repair value, what would have been the, it’s not in nice condition right now. So you got it at 90,000 but if it was truly fixed up, what would it be worth at complete fix-up after repair value?
Hunter Jarvis: Yeah, I think it would have been somewhere in that $175,000 window.
Cody Hofhine: Okay. $175k is what it would be worth if it was in great condition. Okay. So from there what you do, you have a home, you put under contract, you’ve got it at a great discount, you can see that it’s worth when it’s fixed up one 75 you got it for 90 what’s next?
Hunter Jarvis: So, so what’s next is I take all the property pictures, I go home and I put together a sale memo. I pull up a word doc and I just type in, you know all the property facts, put a link to the pictures and I’ve got my buyers list loaded into MailChimp and I blast out the sale memo to all of my buyers with my email address and phone number.
Cody Hofhine: Marketing the contract right. And that’s, which is key to everyone listening. So make sure you are talking to your real estate attorney on how you should do it. So I want you guys to still realize this. He’s going to give you tips and tricks, but still run this by a real estate attorney to make sure you do it the right way for your state. So you start marketing this contract that’s assignable to your cash buyers, right?
Hunter Jarvis: So the cash buyers, they start responding and it’s a good deal, this is a good, this is a good gentrifying area of, of kind of Northeast Dallas. And so I knew it was a deal that I most likely wouldn’t have any trouble at least getting people out to a visit. So I started getting phone calls and you know, I scheduled a time for everybody to come out a couple hours during the week to come look at the house and basically scheduled an inspection for everybody to come out and look at the house. Now like you said, everybody is aware that this is a wholesale property and I’m marketing the contract, not the property. So that is key.
Cody Hofhine: Awesome, awesome. So you have interests, you do the inspection of the property and ultimately what took place, how many people were interested? And then what were you able to at the end of this inspection period, how much were you able to sell it for?
Hunter Jarvis: Yep. So in a two hour window, I believe I had seven buyers or investment groups come through the property and I received five offers. They were all in my mind acceptable offers. But the highest and best offer came from somebody that I had done business with before and who I knew was a real buyer. And so that one came in for $116,000 so that would’ve been a $26,000 assignment fee.
Cody Hofhine: Good gravy. And Hunter, you know what’s going on cause you’ve listened to our podcast enough. So let’s give you a victory bell ring. Hold on.
All right. [inaudible] Dude, that’s for you my friend. In fact, you got two today because $77k in five or six months and then a big fat $26k payday. Now let’s help people understand just a little bit more about this. If you had to pin maybe a timeframe just to help people understand cause I think sometimes we think, Oh you’re working on this day and night, night and day and countless hours and you’re losing sleep and now your wife doesn’t get to see you. What is the real story behind this? If you had to pinpoint the amount of hours it took you from the beginning contact, talking on the phone, drive time, sitting down with a person, putting under contract the inspections to closing what you say is the time that you put involved in this.
Hunter Jarvis: Yeah, I expected this question so I calculated it before the call.
Cody Hofhine: Woo.
Hunter Jarvis: Cause I’ve heard all this. I’ve heard you ask this a million times. So I’m going to guess with pretty close accuracy. It took me about five hours.
Cody Hofhine: Five hours. Now I don’t have a mathematician mind by the way, but five hours, so $26,000 essentially you’re getting five grand a little or like 5,200 bucks, maybe 5,200 bucks an hour. If my math is right, I hope that’s right or I’m going to look like a complete idiot across this nation, but 5,200 bucks an hour is what you just got paid on this deal. Who wouldn’t want to get paid that or at least have the chance. It’s not guaranteed that you’re going to make $26k every day and that may be the same. You’re going to say, yeah, not all of my deals are this, but it is a possibility for sure.
Hunter, my man, this is completely awesome. Tell me this. We always end our podcast the same way and you probably are already aware of this and you probably already jotted it down. There’s always two questions we love to ask to keep adding value because this is all about the listeners. How do we help this great nation realize that they can do this in any city, any state they yes, need to consult with how the best way to do it, but ultimately at the end of the day, what is a good book that you’ve recently read that you would recommend to everyone listening to this podcast today?
Hunter Jarvis: Yeah, it’s my favorite book now. It’s going to be Christmas gifts this year to some people. And it’s one that Tom actually talked about during the, during the coaching program. It’s called The New Psycho-Cybernetics by Maxwell Maltz. I love that book. I’ve read it a couple of times now.
Cody Hofhine: Awesome. Awesome. What is the key principle behind it on why they would want to read this book?
Hunter Jarvis: Yeah, so basically the book is just, it’s just coaching you to make a mindset shift that you know, you already have these abilities within you, now you have the knowledge through the research or whatever that you’ve done with for wholesaling or whatever business venture you want to get into. But now it’s a mindset shift to believe that you know, you are deserving of good things and success and how do you focus on a daily basis on that success and picture what you want in your life and basically manifest that in to coming true. And so I love that book because it just, every time I read it, it gets me into that mindset. And sure enough, every time I read it, I have another big step forward in my life. So it’s been a game changer for me.
Cody Hofhine: And to the point where you’re buying multiple copies and giving them out, which I think you’re a complete stud for doing by the way. So secondly, here is the good question. Hindsight is always 2020 right? Sometimes we look back and like, man, I would have done this differently, or, oh man, I’m so glad I did it this way. Give a tip, trick golden nugget, now looking back and helping those that are right now at the beginning stages. They have never done a deal. They’re sitting here thinking, gosh, how do I even get involved? What do I need to do? What would be the first thing looking back that you would do differently or what you would have made sure you’d done the same?
Hunter Jarvis: Yeah, I wish that way back when I, before I had joined the tribe, there was a period of time when it was, it was tough sailing. It’s, you know, it’s hard to get this business up and running and I actually quit for a period of three or four months between December and I want to say maybe March or April of the next year and I wish I hadn’t had done that because I had got momentum started and then I just let it all stop. And so I had to start trying to push on that rock again and get momentum going all over again. I wish I had never started because I know it’d be a lot further along than I am now. So that would be number one. Number two would be to treat this like a business and not a hobby.
It doesn’t have to take up a lot of your time, but you need to be, you need to have a plan. You need to be regimented in what you do. You need to be committed in your followup, because if you’re treating it like a hobby, like it’s something that you’ll get to when you get to it type thing, then you’re never going to have the type of success that you have in your mind when you set out to start. So that would be another thing I would say. And the final piece of advice that I would give, which I still struggle with, is not getting too high and not getting too low. So what I mean by that is when I have a really good month that I’ve made, you know, I look at my P&L,June had $29,000 revenue in August at $36,000 of revenue , that’s awesome, but I also look on there in July had $0 dollars and September had $0 dollars and October had $0 dollars and now November, I’ve had a couple of deals.
But you know, there were a couple of long months there where the doubts start to creep back in your mind of like, you know, did I just get lucky a couple of times? Is this something that really works or should I keep you going? Or should I just kind of cut my, you know, take my profits and run. But you got to just push on and keep going and trust it. And it’s true. It does come because it ebbs and flows. So just be aware of that.
Cody Hofhine: That’s right. I love this. This was one of the first times I’ve actually heard that last tip and trick. Looking back, hindsight, and that is probably one of my favorites that’s been given is the fact that it is cyclical and so sometimes it’s going to return a goose egg, but then there’s going to be a month that you say $36,000 you’re like, Whoa, where on earth do you have that opportunity? And wholesaling ends up being a great way to A. get into real estate, but B. to make a lot of money in the shortest amount of time. Now does that mean it’s easy? I don’t want to sell this as get rich quick. I’m not that guy and nor do I believe in any get rich quick, but I do believe the pain and the struggle and the trials and the challenges that you face in wholesaling, the rewards are so amazing that come with that and success in my mind and in my eyes and in my experience, has always been found on the other side of comfort.
That’s why you’ll hear us always talk about get uncomfortable and stay uncomfortable because if we’re not uncomfortable, we’re not growing. But Hunter, my man, gosh, dang, this is a great, great, great podcast. I know people are sitting here listening and they’re thinking, how do I do this now? How do I get involved? And so I want you to know you’ve done a great thing by A. just sharing your story and there’s going to be so many people that this resonates with that they may be in the same spot where they’re working a job and they want to start this part time and ultimately get to the point where they can do this full time. So I want to appreciate you for, I want to thank you and I do appreciate you for your time that you’ve been on this podcast today.
Hunter Jarvis: Absolutely. I appreciate you for having me on. I’ve been inspired by so many people on here, so hopefully I’ve been able to kind of inspire some action and some other people because all I did was just take advice from you guys and take instruction from you guys. So I appreciate it and I’m looking forward to continuing to keep going here.
Cody Hofhine: I love it. Well, Rhino nation, this has been yet another amazing episode where it’s not me or Tom sharing how we’re doing deals, but actual people right here in this great nation all across this great nation that are doing deals consistently so that each one of you can have the hope. Each one of you can have the faith to realize that it can be you. You can do this. If Hunter can do this, you can do this. If Cody can do this, you can do this. If Tom can do this, you can do this and the countless others. We’re well over 200 podcast episodes of people sharing how they’re doing deals across this great nation. If you want more tips, tricks, gold nuggets, go listen to the rest of the episodes. We have people that go and listen all the way from the beginning. Just pick some.
But the main thing about these podcasts is to take action, receive the instruction, receive the instruction that’s working for the individuals that are sharing their story and go take action on it and you will be further ahead than the person that takes no action at all. And if you need help in building your wholesaling business, no different than Hunter, go over to wholesalinginc.com that’s wholesaling I N C.com and you can book a call with our team and this is simply a strategy call to see if we are a good fit and if so, move forward. Let’s get you going. And if not, it’s okay. We still love you and we’ll still deliver great content on this podcast for you. Until next time, guys, God bless and go out there and take massive imperfect action.