For some wholesaler newbies, finding their first deal can be real challenging. However, when you have the right mentors, finding and closing one deal after another should come easy. Yes, even for newcomers like Robert Antonie.
Robert is a relentless new tribe member from Memphis, Tennessee. Even if he’s only been wholesaling for 4 months, he has done something truly awe-inspiring—he has closed his first deal and has 2 more in the pipeline.
All in all, he’s bound to earn a total of $21,500 from the 3 deals. That’s pretty impressive for someone who has only been wholesaling for 4 months!
If you are new to the wholesaling world, you’d love today’s episode. You will not only get winning ideas on how to find and close one deal after another, you’ll also discover the role the right mentors will play in your wholesaling success!
- Robert consistently sent out 2,500 postcards every week to the tax delinquent list.
- From there, he got a call from a really motivated seller. After scheduling an appointment, he immediately visited seller the next day.
- Rather than talk about the property right away, Robert chose to talk to the seller first and find out how he can provide value and be of service.
- After all was said and done, he was able to purchase the contract for $17,000, sell it for $24, 500, and walked away $7,500 richer!
- No Limits Real Estate Investing Podcast
- The ONE Thing by Gary Keller
- Wholesaling Inc Youtube Channel
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: You’re listening to another episode here on Wholesaling Inc. Super excited to be with you today. My name is Cody Hofhine. I’ll be hosting today’s podcast and today we have a rock star that is gaining a lot of traction. And so for those of you that are new to the podcast, first and foremost, I want to say welcome. Secondly, what I want each one of you that are new to this understand is we’re going to be talking about wholesaling real estate and wholesaling, just to break it down very, very simple, is just the art of finding deeply discounted properties. So don’t make this hard, don’t make it difficult. Just know that it’s just the simple art of finding deeply discounted properties.
Because if you can find deeply discounted properties over and over again in your territory, you’re going to realize that is how money is made. It’s not in the sale of real estate, but it’s finding those homes at 40, 50, 60 cents on the dollar. And what I want to do is break down in this podcast. We have Robert Anthony and he is going to be talking about how he just did a deal that paid him a good amount of money.
I don’t want to share the amount, because that’s going to be his story, but he’s been wholesaling for about four months now. Been part of the tribe for four months. He’s married. He has two kids. He’s in Memphis, Tennessee. And he’s going to be sharing a strategy of how he did his first wholesale deal and how this same strategy has led to future deals that are getting ready to close in the future, in the near, near future. So let’s break this down step-by-step. Get out a pad of paper, get out a pencil, and just get ready to write down all of the gold nuggets that Robert’s going to share with you so that you can go out there and implement these same strategies and hopefully get your first wholesale deal. So Mr. Robert Anthony, how in the heck are you brother?
Robert Anthony: Hey Cody, I’m doing great. How are you?
Cody Hofhine: So, so good. Memphis, Tennessee has a soft part in my heart, I’ve only been there once, so I can’t say it’s like, “Oh it’s, because I just travel there a lot.” But it’s something I love because our very first event that Wholesaling Inc ever did was in a little real estate office right there in Memphis, Tennessee. It was hosted by Spencer Shadrach, and I can still remember it like yesterday. And then we went down to Beale Street and went to, there’s a little barbecue place down there, what are some of the major barbecue places down there?
Robert Anthony: Man, there’s so many that are really good. It’s hard to say. Every one of them is good.
Cody Hofhine: It’s one that you have to go down a back alley, which looks scary.
Robert Anthony: Oh, Rendezvous.
Cody Hofhine: Rendezvous. That is it. So it was Rendezvous. You go down a back alley, there’s all this beautiful painted art all over the walls and then you go downstairs and then you are fed this incredible barbecue. So I still remember this place like it was yesterday and I should have remembered it was Rendezvous, and that’s exactly where it was. But Memphis, what a great little place. And what an awesome territory and market to be wholesaling in. Has that been something that you have felt the same thing?
Robert Anthony: I absolutely agree with you. I’ve just started here a couple months ago and I’m just learning more and more about the market and the Memphis area. And I just came to find out just the other day that Memphis has 52% of the market is renters.
Cody Hofhine: Holy smokes. That is a full on rental market.
Robert Anthony: Right.
Cody Hofhine: So you could find out that, and we’ll talk maybe a little bit about this, but it sounds like cash buyers are not a problem to find in Memphis because it sounds like a lot of them are even landlords that could be on your cash buyers list, which is pretty dang unique.
Robert Anthony: Right.
Cody Hofhine: Perfect. So Robert, what got you into wholesaling? What were you doing before this? But let me ask this first. Are you doing this full time, wholesaling?
Robert Anthony: I am doing it full time.
Cody Hofhine: Perfect. What were you doing before this?
Robert Anthony: Before this I was in management. I was involved with the food industry and also here recently the chemical industry.
Cody Hofhine: Okay. What got you into wholesaling? Because this is completely different. Some people come to us like, “Oh, I was a real estate agent and I was sick of making 3% and I want to do a little bit better.” Or some people come to us with zero background with real estate. And it sounds like this was more of the lines of not much background in the real estate arena, but you want to jump over. So what got you into it?
Robert Anthony: Right. I have absolutely had no experience in real estate.
Cody Hofhine: That is the first thing to write down guys. You do not have to be an expert to wholesale. I love this. Keep going, Robert.
Robert Anthony: Right. So I’ve been in corporate America for over 20 years of my life altogether. I worked for some great companies along the way and I was just getting tired of it. I was getting tired of working for somebody else and the harder I worked and the more I got accomplished, I’d look at the paycheck at the end of the day and say, “Man, I just wish I was worth more.” So it got to the point where I was ready to start looking at what else was out there.
Cody Hofhine: Here’s what I love about our podcast, because we’re so straight forward on being truth tellers, truth seekers. Right out of the gates was this something, Robert, that was like, “Oh this is easy peasy. It just came together like bread and butter.”
Robert Anthony: No, I struggled with analysis by paralysis for about the last three years in real estate. First I wanted to a buy and hold guy. Then I wanted to do fix and flip. And then the last thing was note investing. And here I was about two and a half years into it and I hadn’t done a thing, other than just try to educate myself. So finally I went out to lunch with a gentleman who is in one of our investment groups here in town and he said, “You just need to pick one thing and go with that.”
Cody Hofhine: I love that individual. Whoever said that, you give them the hugest hug from me. So true.
Robert Anthony: Yeah. So that’s exactly what I did. He mentioned the wholesaling’s probably the thing to do because once you get good at that, that will open up more opportunities for you.
Cody Hofhine: So, so, so true.
Robert Anthony: Yeah. I just started researching it. I came across Wholesaling Inc. I started to watch some of the podcasts and I thought, “Man, this is it. This is actually it.” So I joined the course right at the end of July. So it was really like the beginning of August. And I just started and here we are.
Cody Hofhine: And here you are. I love this because this is a great overview that you hopped into it. It’s not like it’s just bread and butter easy. There’s things that you have to do. You have to take massive imperfect actions, what we call it. But ultimately you’ve done some great things really quick out of the gates, which I am super proud of you. This has been awesome. And then to hear that you have a couple more closing, but what we’re going to do, let’s cut right literally to the meat and potatoes of this podcast and let’s help our listeners, how we can add value to each one of them today. And let’s go break this down step by step what it was you did to get this deal. So I’m going to ask a couple questions and then just let’s fire away and let’s see how we can bless the people of this great nation to how they can get into entrepreneurship and hopefully get into wholesaling.
Robert Anthony: That sounds good, Cody.
Cody Hofhine: Okay. So first and foremost, you have to market to these people. What did you do to get your message out to this individual that we’re going to be talking about, this real estate deal that you did. What was the form of marketing that you did to reach out to this individual?
Robert Anthony: Sure. So I started with direct mail marketing. That’s the avenue I took.
Cody Hofhine: And is it a letter or is it a postcard?
Robert Anthony: It’s postcards. Right.
Cody Hofhine: Perfect, perfect. And with that postcard, is it just you drive around and find people that you want to mail it to or is there a specific way that you went?
Robert Anthony: Well, so in the course, Bill Rafter and Tom Krol and you put together a pretty solid program in place and you tell us exactly which targets that we need to go through for direct marketing, which ones are the ones that’ll pay off. So I just followed the recommendations from what the course offers.
Cody Hofhine: Nice. What list did you go with?
Robert Anthony: Well, I was working on my tax delinquent list. That was the most important one, but I was struggling getting that to all together and I was struggling. And I’ll share this real quick with you. I had a moment in the course where I was going through and building my cash buyers and I was working on trying to get my tax delinquent information all together from the city or the county and I had a moment where it started getting really frustrating.
So in the course it says, get your cash buyers going. And boom, you can get 176 cash buyers, you just got to do this and take off. And I was doing that but I was struggling. And then the course starts clicking away with different direct marketing campaigns that you need to go for. And I was having a moment where I’m just like, “Oh man, this is too much.” So I sent a note in the forums to Bill. And I said, “Bill, hey, I’m in the weeds here. What do I do? I’m struggling with my cash buyers list and I don’t know exactly what to do.” And he gave me a pretty direct response. He basically kicked me in my John Brown hind parts.
Cody Hofhine: I love Bill Rafter, by the way.
Robert Anthony: Yeah, it was a great response and I needed it. He said basically, not only are you going to get your cash buyers list, but you’re also going to find your tax delinquents and you’re going to get your probates and you’re going to get all the rest of them going.
Cody Hofhine: I love it. I love it. So he was there to also help assist you when you had the question in the forum, here’s Mr. Bill Rafter, the biggest Go-Giver I’ve ever met. Just an incredible individual. Kind of give you a good little brotherly love kick.
Robert Anthony: Exactly. And that’s what I needed.
Cody Hofhine: I love it.
Robert Anthony: So I said, “Okay, I’ve just got to go.” Right. It’s all about taking action and don’t worry about being perfect. Just go. And so I was trying to get my tax delinquent list pulled together, but I just started to go with some of my other equity lists, absentee owners and whatnot. So I just sent off some direct mail and then I finally got my tax delinquents pulled together and I sent that off. And literally within a day my phone just went crazy.
Cody Hofhine: To the point where I feel bad because sometimes these phones literally melt. It’s like ringing so, so, so much. Was that the case for you?
Robert Anthony: Absolutely. I was averaging about 20 calls for the first [crosstalk 00:10:58] and then the tax delinquent one hit and I got 50 calls the first day.
Cody Hofhine: Holy smokes. No way. That is awesome. How many mail pieces did you send out for the tax delinquent to get that kind of response?
Robert Anthony: The first round of tax delinquents I sent out 2,500 postcards.
Cody Hofhine: Oh my goodness. So here’s something of value already. Sometimes we don’t do enough. Sometimes we do too little. And so it just prolongs the timeframe that it is to get your first deal. So one of the things I love that you’ve just said is that number, 2,500 mail pieces. Was that in one week you said?
Robert Anthony: Right. That was my third week of marketing.
Cody Hofhine: That is beautiful. I like to say to people, are you wanting to get a deal quick and have your opportunities start coming to you at a quick rate? That number looks like around 2000 to 2,500 postcards a week. And you were right there at the max, which was awesome. And from the first day it was 50 phone calls. Is that where this first lead came from or did it come from later on?
Robert Anthony: It did. It came from that first day of calls. And I could tell it was my first real motivated seller call too. I could just tell that [crosstalk 00:12:10]
Cody Hofhine: I love this. I love this. I love this. Because this is, I think, so crucial. This is why I love the podcast because sometimes our guests will say something. You just said something that triggered, you said, “I could just tell this individual was motivated.” Because we’re not in this business for real estate. We’re not buying homes. What we are is solving problems. So we’re looking for the motivation. Why? What was it about this that made you say, “Man, I can tell this individual is very motivated.”
Robert Anthony: Well, I could just tell with just the tone of her voice and she was just someone who was needing some help. Right. She sounded down and she sounded like she was just in trouble. So I had the call. I took down the information and I said, “I’m willing to help and come take a look at your property.” Then I remember information from Bill on the forum, when you get a call like that, you need to go. So I did that. That was my absolutely number one priority.
Cody Hofhine: I love it. I love it. You can’t wait, go. I’m writing this down for my own self. That is amazing. You get someone that’s motivated, you just go. I love it. I love it. Keep going.
Robert Anthony: So I showed up to her house the next day and it was mid afternoon or so, and she opened the door and we sat down. She wanted to just show me the house first thing. And I’m like, I’d rather just sit down and chat for a little bit. I’m brand new at this, I don’t exactly know what I’m doing. I listened [inaudible 00:13:37] go back, session number 10 on his podcast.
Cody Hofhine: No Limits.
Robert Anthony: And, and so I was rehearsing that and just trying to do my best and I knock at the door and everything falls apart. But I sat down with her and I just talked with her, right? I just started talking with her. And we spent 10 minutes, she just shared with me some of the stuff that was going on in her life and the reason why she needed to sell. So that just took a few minutes and I could tell she was more calm. And she showed me her house and I walked through it. And we just sat back down again and talked through it. And I didn’t exactly do it the way I was supposed to, but I just said, “Hey, this is what I can do under the circumstances,” and she looked at the offer and she nodded her head and that was it.
Cody Hofhine: So here’s something crucial, Robert, that I know you know this now hindsight, but I want even our listeners to recognize something that was so good with what you did. And that’s so many times when we go to a home, the seller kind of wants to just rush us through it. Like let’s go in, let’s look at the home and let’s get out. And I love that you just slowed the seller down. You brought her to a halt and said, “Hey, I want to talk with you.” Because again, if all you’re going to do is go in there and look at just the real estate you’re doing what, A, 80% of your competition’s doing, and you’re wondering why you’re not going to be doing a lot of deals, but you’ve got to separate yourself. And you did something so crucial to anyone’s success in wholesaling if you want to really make this a true business that serves you, and that is just build rapport.
See how you can truly serve individuals. It’s not about the three bedroom, two bathroom. It’s about how do I help this individual and if I’m a good fit how do I make this a win-win. And if not, how do I still serve this individual and help them find the best solution. So you go through this whole thing in building great rapport. People do business with people they trust. This is huge. And ultimately what did you do? You said you put out the offer and she just nodded her head and said, “Let’s move forward.” Was this home distressed as well? When you say motivated, she had her reasons of moving, but also what type of condition was the home in?
Robert Anthony: So the home was in pretty rough shape. They were just living in one room of the house and the rest of it just started to get packed with different things. They had their water turned off.
Cody Hofhine: Oh wow.
Robert Anthony: The electricity was on, but their heater wasn’t on. So they were just staying in the one room with a space heater. So it was just a tough situation.
Cody Hofhine: Sure, sure. What were you ultimately able to put the home under contract for?
Robert Anthony: So I got the home under contract for 17,000.
Cody Hofhine: Okay, and 17,000, for some people they’re hearing the podcast, they’re like “No way. I can’t even buy a trailer in Utah for 17,000, and you got a home.” Right. So that’s awesome. So 17,000. If the home was fixed up so they can kind of see what you have to do to be able to make any kind of money in wholesaling. If this home were fixed up and rehabbed, put back on the market, what would that home go for when it’s all fixed up after repair value?
Robert Anthony: After repair value on that property was going to be around 63.
Cody Hofhine: 63. So that gives our audience a perspective of what you’re doing. That’s more than 50% off the ARV. Now it also wasn’t in great condition. It was going to require some fix up, some TLC, to get it back on the market. So you put under contract at, you said 17,000, right?
Robert Anthony: Right.
Cody Hofhine: What did you do from there?
Robert Anthony: So, towards the end of the evening there, by the time I got home and I got my information put together and I sent it out as an email to my cash buyers. I’ve got about 150 or so cash buyers and I sent it out about mid morning the next day. And I listed it for 24,500. At about three hours I got an offer that just said, “Hey, we’ll take it. We don’t even need to look at it.” So it was just kind of a crazy day for me.
Cody Hofhine: 24,500. So did you just take the first offer that came in, or did you have multiple offers?
Robert Anthony: I started getting offers. People were asking about the property and wanting to see pictures. And so I was doing that. I never even got a chance to send a text message out on it because I was busy responding to about 20 different emails. I got a lot of attention and people wanted to see it. But this was the first offer I got on it and it was full offer. And I said, “Well, I’ll think about it and I’ll get back to you.” So I hung up the phone and it took me about two hours and I’m like, “What am I doing? I just need to do this.”
Cody Hofhine: Awesome. Awesome. So 24,500, if my math is correct, it should be I hope, it’s $7,500 that you made on this deal. Is that correct? Oh my goodness. Hold on. You know what’s coming. There’s the victory bell for Mr. Robert Anthony. I love it. $7,500. But Robert, I think what’s also really fun about this is to help our audience. I know there’s people out there thinking, “Oh, he must’ve been working this lead for five years and finally this paid $7,500 and when it comes down to it, it may not be that great of a return on investment.” What would you say, if you had to tie in the hours, go on the strong side, go on the high side. How many hours do you think from start to finish, from the first time they called until the title company closing, how many hours do you think was involved in this?
Robert Anthony: Well, I’ll tell you, I got the call and got it under contract within about 30 hours. But that was it. And the amount of time I spent on that property dealing with that, including drive time, was maybe about an hour and a half to two hours.
Cody Hofhine: One and a half to two hours. So this is absolutely crucial. So this lets you know exactly what we’re talking about. We’re talking about, let’s see, 3,750 to get 7,500 is that right? Times two? Is my math awful? Yes. 3,750 times two so in two hours of work getting paid basically $3,750 an hour on this deal. And here you were able to help this individual out. It was a home that was distressed. You’re able to help make this a win-win that came with a great payday. But this payday didn’t come until after you were able to serve this individual, help this individual, and truly make this a win-win. From everything here, did you have any other rapport with the seller where they’re like grateful for what you’ve done, they’ve tried selling this to other people but nothing came through. Was there anything else unique about this where they loved just working with you and why they went with you?
Robert Anthony: Yes. In fact, the, after I signed the contract I just stuck around for a little bit to just clarify with her what the next steps were going to be and kind of setting expectations going forward. And she had just mentioned to me that other people were aware of her circumstances and coming in and looking at the house and she just really got the feeling that they were just there to take advantage of her and they were just offering her low ball offers. So it was just one of those things, that I wasn’t there to make it a low ball offer. I was there to just try to help her solve a problem and make a profit along the way.
Cody Hofhine: That is fantastic. I love that. I love that. You served her, you helped her, and people end up doing business with people they trust. So I love that. This is great stuff. And you said since that closing you actually have two more in the pipeline that’s looking to close here in the near future. What does that look like on those two deals and what will those ultimately bring in for you?
Robert Anthony: Sure. So I’ve got two other deals going that I actually have assigned. The second one was also a tax delinquent and the assignment on that one is $6,000. And the third one I have under contract and assigned, that was going to bring in $8,000.
Cody Hofhine: My goodness. So what is that, so 14,000 that’s going to come in here in the near future, and that’s some people’s maybe three, four, five, six month pay. And here you are bringing that in, in the next little bit for one month’s time of work. What did that deal come from on the last one?
Robert Anthony: So that one was absentee landlord.
Cody Hofhine: Okay. Absentee landlord. That is absolutely awesome. Robert, you are a rock star. You’ve been doing this for four months and here you are in no time, 14 plus another, so $21,500 in four months’ time. But really the last 30 days is really where that 21,500 comes in. Is that correct?
Robert Anthony: Right, right. In fact, these all three just kind of happened one a week for three weeks.
Cody Hofhine: One a week for three weeks. So really it’s 21,500 for the last three weeks.
Robert Anthony: That’s right.
Cody Hofhine: That is absolutely awesome. Robert, congratulations. This is good stuff. What do you plan on doing here in the future? Is it a go back to chemicals?
Robert Anthony: Oh man, no. I’ll tell you what, this is it.
Cody Hofhine: I love it. I love it. Well, let’s break it down for two things. I always like to ask these questions so our listeners can get some more value to end this podcast. The two things we always ask are, having hindsight and looking back, usually it’s 20/20, for those that are just getting into wholesaling and now you’re looking back and let’s say right at the beginning point at four months ago, what would you have done differently or maybe what would you have done the same to help our listeners that are just getting started?
Robert Anthony: One of the things that I realized about two months into this is that there’s just so many resources available. I was using the forum quite a bit and asking questions and just learning the process, but then I started reaching out to other tribe members and there’s just some fantastic people out there. I’ve got a connection with Chris Silvis, with Zack Booth, with John Harcar, and even with Mr. Spencer Shadrach here in Memphis. And they have been absolutely just fantastic in providing support and recommendations and feedback. So if there’s anything that needs to happen for somebody who’s new into this course, they absolutely need to leverage all of the individuals that are making it, that are successful in this, because so many people are just there, willing to help and lend a hand and try to help you become successful.
Cody Hofhine: Robert, this is unique. I actually tear up when I hear some of these things, and this one kind of got me a little bit. Here’s what I love, is the abundant mindset that exists among the tribe, the community. And I love how not once did you say Tom Krol, Cody Hofhine, and I love that. Because this lets you know just how powerful the community is that you said reach out to those that are already doing it. And here’s the beautiful thing, is the fact that one of those individuals is right there in your neck of the woods, right there in your backyard, and he wasn’t just reserved and just like, “Ah, nope, not helping you, you’re in my market.” But that he still had that open abundant mindset to help you. Even though you’re right there in his territory. We say there’s no competition, just collaboration. And that truly is what you just described about the community and why the community is so important. I love that.
Robert Anthony: I wouldn’t be where I’m at today without help from those guys. It’s just been fantastic.
Cody Hofhine: I love it. I love it. I love it. So, second question this will lead me to, what about a favorite book? Are you much of a reader?
Robert Anthony: I am now. I haven’t been [crosstalk 00:25:32].
Cody Hofhine: I love it.
Robert Anthony: The last book I read was The ONE Thing by Gary Keller.
Cody Hofhine: Gary Keller. Yeah, great book [crosstalk 00:25:39].
Robert Anthony: Fantastic.
Cody Hofhine: What was it that you liked about that?
Robert Anthony: Well, it’s just helped me to really focus. A lot of the information that’s in this course, it talks about not worrying about all the different steps that you have to learn how to do. Just just learn the next step. Right. So that’s what I’ve done. I picked it up in the beginning of December and I’ve read through it already, but I’m going through it a second time because there’s just so many gold nuggets all the way through [crosstalk 00:26:01].
Cody Hofhine: That’s awesome. So, The ONE Thing, Gary Keller, I love that book and I would highly recommend that to our listeners. Well Robert, this is an awesome, awesome way, and I see nothing but good coming for 2019 and I’m super excited for you and I just want to personally thank you. And If Tom was on this podcast or Brent or anyone on this podcast, they would be saying the same thing. Thank you for taking your time to share your story with all the great listeners of this great nation. And I know there’s going to be people that this just resonates with and is going to help make them and help them be aware of they can do this. So I appreciate you for your time that you’ve been on this podcast today.
Robert Anthony: Cody, you’re very welcome.
Cody Hofhine: Okay. Rhino Nation. This has been another amazing episode where we’ve heard Robert share step-by-step how he has found his first deal right there in Memphis, Tennessee, and how from doing that one deal it has snowballed into two that are going to be closing two weeks apart. So over the next two weeks of $14,000, so a total of $21,000 over the last three weeks. That’s going to be some amazing things and 2019 looks good for him. Guys, if you want to hear more stories like this, subscribe to this podcast for sure. And if you need help in any way, we’re all about adding value your life. Go over to our YouTube channel. You can subscribe to that where we share tips, tricks, and gold nuggets.
And if you personally want help building your wholesaling business, go over to wholesalinginc.com and you can definitely book a call with our team to see if we’re a good fit, see if it’s going to be a good fit for you and if you’re going to be a good fit for the tribe. And if so, get ready to get uncomfortable and get your first deal. Take care guys. We’ll see you on the next episode.