Posted on: February 14, 2019

For many members of the tribe, 2018 has been a really profitable year. For others however, it has been a phenomenal one. In today’s episode, exceptional wholesaler and TTP guru Brent Daniels talked to someone whose 2018 has been massively lucrative.

Josh Nicodemus is a remarkable and determined rhino from Florida. However, just like most people, his first venture into wholesaling has not been easy. Fortunately, things changed dramatically after he joined the tribe, invested in the right mentors (and in himself), and provided exceptional service to sellers.

Three years in, Josh is now running a very lucrative wholesaling business (in Florida and Maryland) that allows him to travel and spend quality time with his family. In fact, in 2018 alone, he earned close to $400,000!

How did he pull off a feat as impressive? That’s what you’ll find out when you tune in to today’s episode. So, have a pen and paper handy. Josh dished out so many wholesaling gold nuggets, you’ll have plenty to take note of!

Key Takeaways

  • The importance of getting the right mentors
  • Why it pays to invest in one’s self
  • What his real estate business looks like prior to joining the tribe
  • Why self-awareness is crucial
  • How he finds his deals
  • How he takes care of the calls that comes in
  • Why returning calls at all times is vital
  • Lists he’s focusing on
  • Marketing channels he uses
  • The cold callers he’s had the most success with
  • How he incentivizes his cold callers
  • How his faith helped him through his failures and successes
  • How he balances being an entrepreneur and a family man
  • Advice he’d give to people who have yet to find their first deal
  • Best way people can find him and get in touch

RESOURCES:

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Episode Transcription

Brent Daniels: Welcome everybody to the Wholesaling Inc. podcast. My name is Brent Daniels and I am hosting this episode. I am absolutely excited today. I’ve got one of my really, really good friends on the podcast. He is going to share so much information about the ins and outs and best practices of his business. He works both in Florida and in Maryland, which is incredible because he’s in two markets and he’s going to explain and peel back the curtain on what that looks like and some of the challenges and some of the successes that he has. Without further ado, I want to introduce to this podcast, Mr. Josh Nicodemus. Josh, say hello.

Josh Nicodemus: What’s up brother?

Brent Daniels: Hey there, I’m so excited we finally got to do this. I know you’ve been super busy with your business. You recently moved to Florida, which has been a big change for you and your family cause you guys had lived in Maryland for a while.

Josh Nicodemus: Yeah, since birth man.

Brent Daniels: Since birth. So it was a huge life change. But you’re doing business in both markets, is that right?

Josh Nicodemus: Absolutely. Yep. Absolutely.

Brent Daniels: Okay, so first of all, you got into this business, you got into the real estate business from a construction background, is that right?

Josh Nicodemus: Yes.

Brent Daniels: So tell me about that. Tell everybody about that.

Josh Nicodemus: Sure, absolutely. So I, straight out of high school, started doing construction and really liked that. I liked the hands on work. I like seeing the transformation. I did that for seven years and then started my own company, did that for six years. I’ve been in the construction industry for 13 years. Really liked the work, but got kind of worn out of dealing with the homeowners and customers and thought, “Man, these people are so nitpicky” and it just got frustrating. I had people stiffing me for money constantly. In early, I guess it was the end of 2015 early 2016, I started thinking about, “What would it be like if I could do this work and still be rehabbing and doing this stuff, but on properties that I own instead of stuff that belongs to other people.” That’s kind of what sparked my interest about getting into real estate. At that time, that’s when I found a Tom Krol course and jumped in and got my first paid mentorship program, which was a grand slam, paid itself off many, many times since then. That was kind of how I got started.

Brent Daniels: You started right around the same time I did, right? It was like 2016, this is like three years ago. I remember signing up in February of 2016, the year before I had made a quarter million dollars, and then in 2016, just being around people doing way more than me. That was the point, right? Learning the ins and outs and the specifics of the Wholesaling Inc. program was phenomenal. But being around people that were doing just extreme business, it just raised me up and raised up what I thought that I could do and the best practices and everything. All of a sudden that year I went to $740,000 and it’s been the same with you. Right? We’ve been in this thing a long time and it just keeps getting better and better and better.
I think it’s just all about surrounding yourself with people that are doing way more business with you. Right? Your network of people are just millions of dollars in business every single year. You’re connected. I think you’re part of the next level, right? The next level wholesaling program? You were part of the Rhino Round Table with me. It just keeps getting better and better and better. What do you take from this? You’ve invested a lot of money in this, right? Obviously it’s been a great return because you keep investing in yourself. What do you take from it? What do you think is the biggest things that you take from replanting yourself into a bigger pot each year?

Josh Nicodemus: Yeah, I think a big part of that is that the idea of your top five. You’ll hear this over and over and the more successful people you talk to, the more you’re going to hear it. Everybody says the same thing, the top five people that you surround yourself with, that’s who you’re going to be. You’re going to evidence yourself in that group of people. So, when I joined the course program and I saw this is my first time doing a paid mentorship and it paid itself off, 10 times or 20 times over in the first year. I thought, “Well if I go to the next level, what’s that going to do for me?” Then the next level and then the next, so every time that I’ve been able to step into a new mastermind group there’s another level of success I’m surrounding myself with and becoming more like those people, like yourself and others who are or are more successful than I am and bringing me up and rather than being at the same level or at a lower level. It’s a top five mentality.

Brent Daniels: I don’t remember who put it though, who said it first, but basically what Josh is talking about is you are the person that you are now as a combination of the five people that you spend the most time with. Us as humans, the more that the environment that we’ve put ourselves in, we adapt to is essentially what it is, which I think is just absolutely phenomenal to think about. If you’re just starting out into wholesaling or just starting out in real estate and really, really, really think about this because Josh said something real key here. He talked about getting the mentorship and getting 10, 20 times the return and all this, and listen, this isn’t a sales pitch, this isn’t an ad, but this is just facts. The facts are one, once you invest in yourself, you want to get a return.
You could go on YouTube and find out a lot of stuff. You can go on this podcast and get a lot of information but once you invest in yourself, like financially invest in yourself, you are in it. That’s the way that I feel. If I’m going to invest $10,000, $20,000 into a mentorship or a mastermind or a coaching or whatever it is, which I do several times throughout the year, I want a return on that and I take it seriously, I put in the work for it and it just takes it to a next level, next level, next level. I think that’s really, really a key thing because then you’re surrounded by people that did the exact same thing and are wanting the exact same results. So it’s really phenomenal. If you’re in a situation where nobody in your family’s in real estate, none of your friends know anything about wholesaling or talking to people or getting deals or flipping houses or buying apartments or whatever it is.
You can easily be surrounded with masters of this, with so many different mentorship programs throughout the country, you know what I mean? Like you can instantly increase your network of people by financially investing into it and getting that mentorship program. Which, I’ve done for the last 10 years. I’ve had a coach, that I spent $1,000 a month for the last 10 years. That’s part of the process. I want to be around those people just like you have. Let’s talk about real results. So before joining the program, to now, how does your business look?

Josh Nicodemus: Before I joined Wholesaling Inc. my business in real estate really didn’t exist. To give you the quick and dirty on it is, by researching on YouTube and looking at other guys on Facebook and stuff like that. And I thought, “Man, I’m not paying for this mentorship stuff. I don’t have time for this. I don’t have the money for it.” So I just went out there and started trying to do it myself and I was putting out bandit signs and I remember, after a few weeks of putting out bandit signs, I remember getting a phone call and the guy was like, “All right, Hey, what’s this about? I got a house I’m thinking of selling” and I don’t really know what to tell him. I was like, “Yeah, I, yeah, I mean, you know, I might be interested.”
I blew up the call and nothing ever happened and I thought, “Man, this is bull crap. I’ve got to like, if I’m going to do this, I’m either going to do it or I’m not, I’m going to go all in.” So, to be honest with you, my business really didn’t exist before Wholesaling Inc. Once I got started, I think it was about 60 days until I got my first deal. Then from then it snowballed, deal, after deal, after deal. Like I tell a lot of people, at that time I was still full time in my construction business. I did it for full times 40 to 60 hours a week, depending on the week and was running my wholesaling business on the side. In five, six hours a week I was making more in wholesaling than I was in my 40, 50 hours and 60 hours a week in construction. That was when it was like, “All right, this is a no brainer, right? Why am I not doing this full time?”

Brent Daniels: Time to transition. Just from a financial standpoint, how’d you do in 2018? We just wrapped up that year. I know that you had a solid, solid year. What was the total amount that your business brought in, in 2018?

Josh Nicodemus: So we brought in right around, $350 to $375 in 2018. I’m still, long story short, waiting to see what happens on taxes and all that. It was a solid year for me and it’s been a real blessing, man.

Brent Daniels: That’s incredible. You’re right there. That’s $400,000 in a year, that’s top 1%. You know what I mean? Isn’t that incredible? Going from nothing in there, over a span of two years, to getting that much, providing that much value because let’s face it, the equation, it’s a simple equation for everybody out there. Your income equals the amount of value you provide to the marketplace or your community. That’s it. See, just an extreme amount that you’re bringing. It’s just so amazing. You have a combination because you at heart, you love swinging the hammer. You at heart, love getting your hands dirty. You at heart, love working and just making something really special and getting into it every single day. Now how much of your business is flipping? How much of it is wholesaling?

Josh Nicodemus: So, that’s a good question. We’ve transitioned more into flipping now. As of January of last year, so just a year now that I’ve been doing this full time, we’ve slowly transitioned more into rehabbing because that was my passion. I love wholesaling and Tom and I will go back and forth on this and he’ll tell me, don’t pick up a hammer, don’t ever rehab. I don’t get to swing a hammer like I used to, but we have transitioned into rehabbing quite a bit. It’s probably, and that’s a good question, it’s probably close to 50/50, money-wise. So, I think last year we did about 40 deals and about 10 of those, I think 10 of those were rehabs and 30 of them were wholesale deals. But you know, money-wise, it ended up being about half and half.

Brent Daniels: You make significantly more when you rehab them. I mean, your product is top-notch. I mean your flips are like beautiful, right? These things sell fast, people love them and you have a ton of pride. You can drive by those properties and be like, “I made that.” What was once a totally distressed, rundown, decrepit property into this beautiful gym that it is now. Now somebody’s family is living there or a couple or whoever and you get that sense of pride and I really think that something that you touched on there, self-awareness, right? You love that. That’s your passion. You know what I mean? I think when people are asking the question, do I want to flip or do I want to wholesale or what do I want to do? I think you really have to have that self awareness that says, what am I really passionate about? What really gets me going? What makes me happy? Right? You know what I mean? I think that’s a huge part. So how do you find 40 deals? How do you find these deals?

Josh Nicodemus: For people who aren’t seeing this, it’s pick up the phone, right? We have three marketing strategies that we use primarily, right? So direct mail, cold calling and bandit signs. So what we get is a mixture of those. Honestly, it’s a pretty healthy mix. Then actually we get a lot of referrals as well. Just getting out there and being in the business, out in the real estate space and networking with other people. We get a lot of people that send us stuff as a result. All of those come back to talking on the phone with these people, right? Whether you’re getting a call in from your direct mail or from your signs you’re going to be hitting them right back, right away. Being the first person to go out and take a look at the property and make an offer.

Brent Daniels: Let me ask you this, when you get a call coming in from either a sign or a mailer, do you answer it live or does it go to voicemail and you call back?

Josh Nicodemus: So most of our stuff comes in to voicemail and I call them right back. My acquisition manager in Baltimore, who likes live answer, we’ve actually got a lot of the marketing, forwarded to his cell phone and he picks up live. We’re testing that.

Brent Daniels: I just wonder if sometimes when calls come in and goes to voicemail, if there’s any slippage, you know what I mean? People don’t leave voicemails or you can’t get them on the phone again. But then again, most of the calls we know, from doing direct marketing or any kind of marketing, most of those calls are people telling you they don’t want to sell. So it helps filter out a lot of people when they leave that message. It helps if they do leave a message saying they want to sell. Holy cow, hot lead, right? It’s pretty incredible. So I think it’s the big national debate on, “Does it go voicemail or do you get somebody at a live answer at each time?” Which is really interesting. I can’t get a straight answer. Some people say, “Oh, I have to live answer. If we don’t, you’re wasting so much money.” Then other people are like, “No, I let it go to voicemail. I don’t deal with the brain damage of people screaming at me multiple times a day and I can stay focused and good.” So I think it’s interesting. I think to test both is really, really, really smart.

Josh Nicodemus: Yeah, I agree. I couldn’t tell you whether I’m losing money by letting some of them go to voicemail or not, but we call everybody back. That’s the other thing, whether they leave a voicemail or not. I know my third deal that I did ever in 2016, was a $40,000 wholesale deal and it was a guy that never left a voicemail and I called him back and I got him. We call everybody back.

Brent Daniels: That’s awesome. Awesome. That is great. For anybody listening to this, if you want to watch this, you can check it out on the Wholesaling Inc. YouTube channel and also my channel, Brent Daniels -real estate coach. So check that out. It’ll be on YouTube. You can see our smiling faces and get a good idea of what we look like. Who do you target? Everything in this business comes down to having quality conversations with distressed property owners, right? The more targeted we can be on those distressed property owners, the more success we’re going to have. If we just call the general public out of the phone book or something, it’s going to be a long, tough, slug fest, right? But if we target down and really focus on the distress, filter them out and talk to those people that are really, really motivated, who do you target and how do you put together your list?

Josh Nicodemus: Sure, absolutely. So we have our VA constantly scraping for the two lists that we hit a lot in Baltimore. Now there are three lists that we hit and really heavily, but the two that are more niche and more targeted are probates and code violations. So our VA is constantly scraping those and creating new lists every single week. The other lists that we hit hot in Baltimore and we do a lot of deals off of, is our absentee list because Baltimore can be a rough place. So you got to imagine there’s some pretty tired landlords. They’re dealing with some low quality tenants. So we, we hit a lot, a lot of absentees as well.

Brent Daniels: That’s incredible. Got it. You’re hitting them in three different ways. Bandit signs, TTP, you’re picking up the phone or you’re calling direct and then direct mail. That is awesome. Well, you know I’m the TTP guy. I love hearing that you’re doing deals from it. Let’s talk about, cause we talked a little bit about this before the podcast. Let’s talk about some deals that you got from it. Let’s talk about this flip that you’re doing. You’re doing a flip. It’s going to close Thursday next week, and this was from a cold call. So walk us through this process so I can ring this beautiful silver bell as loud as possible and just celebrate this victory. So tell us about it.

Josh Nicodemus: Absolutely. So this was a three bedroom, two bath rental property. It was owned by this sweet, older couple. Actually it didn’t really fit our typical criteria as somebody who is really distressed. The fact that they were just like, Look we have this rental property. The tenants are getting ready to get out of there. We’re thinking of selling it. We’re just older, we’re retired. We really don’t want to fix it up, to sell it. So my acquisition manager went over there and looked at it and they were saying they were looking to get about $200,000 for the property and it’s a really desirable neighborhood, kind of close to a suburb like DC. A lot of guys like to be in that area to commute to DC.
We went out there and he took a look at the property, made him an offer. I think he offered them $185, they settled on $188 and we closed on the property a few weeks later. You could go to our website and see their testimonial and they are just as thrilled as can be with the process. So we rehabbed it. We didn’t put a ton of money into it. I think we probably only put like $25 grand into it and it sold for $285 and sold and we’ll close on that next week.

Brent Daniels: Awesome, what list was this from?

Josh Nicodemus: That was an absentee list. Absentee owner.

Brent Daniels: So, you just called them up. Who called them?

Josh Nicodemus: Well, so our cold caller called them and then basically they said “Yes, we’re interested in selling.” My acquisition manager called them back to follow up and he went out and set the appointment.

Brent Daniels: Now is this cold caller somebody you have in the office? Is it somebody that works from home? Is it somebody overseas?

Josh Nicodemus: They work from home. So we have local cold callers. We’ve done a little bit of both but we have local cold callers, is what we’ve had the best success with and they work from home.

Brent Daniels: You just pay him hourly. Do they get commission-based? Like what is it?

Josh Nicodemus: Both. We pay them hourly and then we also give them like a $200 bonus on any deal we pickup.

Brent Daniels: Love it. Love it. So, after making this house beautiful, making the sellers happy, selling this thing, what are you going to net in your bank account after it’s all said and done?

Josh Nicodemus: So on this one we’ll net $35 grand. That’s a beautiful thing because it’s being rehabbed. I’m not touching it. I never actually went out and saw the property before we closed on it, so I never saw it. I went out there and looked at it after it was rehabbed, it was beautiful.

Brent Daniels: You know what time it is. Victory bell. I love it. That is so exciting. It’s incredible. You’ve got somebody that’s working from home that you pay hourly. They make a call that turns into a seller working with a phenomenal professional like yourself, somebody that has extreme integrity and is going take care of them and really have empathy for their situation, so they’re happy. They give you a testimonial and then you get to go. You get to put in the work, you get to make sure that this is a quality product for whoever’s buying it. Then at the end of the day, you make over $30,000 and time to do it again. Life is good, man. Right? It’s just an incredibly exciting business that we’re in. It really is. I love it. I absolutely love it. Let me ask you this, now in wholesaling and the real estate business, there’s ups and downs, there’s good months, there’s bad months, how much does faith really help you through the successes and the failures? Cause I know you are a man of extreme faith.

Josh Nicodemus: Yeah. It’s huge. I have to go into it every day knowing that God wants what’s best for me. Right? It’s a balance of betting on yourself and taking that extra step, right? Stepping outside of your comfort zone everyday. Doing that, knowing that everything’s going to be okay. He wants what’s best for me and I’m going to do what it takes to make it happen. So I’m going to do what I can on my end. Don’t sweat the small stuff, don’t sweat the stuff that’s out of your control. I don’t know. I’m trying not to get too comfortable.

Brent Daniels: Love it. Absolutely love it. You’ve got four kids? Four kids, beautiful wife. How do you balance having four kids, a wife, moving to markets, being an entrepreneur? You don’t get a paycheck, right? How do you balance all this in your mind? You speak to the people out there that want to be entrepreneurs that have a lot of things going on in their life just like you. How do you make sure that you’re in a position to be around them and impact their life but also be a solid entrepreneur? How do you do it?

Josh Nicodemus: That’s a loaded question and there’s a lot that goes into it. You know, as well as I do, managing life, home life with business and especially if you work from home, that’s really difficult to know when to turn it off. So for me, a big part of it, and I’m not in the office today, but a big part of it, it’s been helpful for me, to get an office space. I said, you got to got an awesome office space there. Doesn’t have to be a lot, but just to get out of the house and go and have like a time block, right? A time block, you set a certain amount of time that you’re going to be at work and then come home. Come home and be with your family and try to set a schedule. Because as entrepreneurs it’s really hard for us to have a set schedule sometimes. Our minds are wild, right? We’re all over the place. So that’s a big part of it for me is just trying to set a schedule where I get up early every single morning. I do my morning routine. I go to the gym, I get to work and I try to have this set schedule. It’s not always perfect. I screw up from time to time, but that’s been a big part of it for me.

Brent Daniels: You travel with the family, you know what I mean? You’re bringing them around and they’re involved and it’s incredible to see, man. It really is awesome. I think that just making sure that it’s a priority situation. It’s just a priority at the time. You know what I mean? Where are you going to get the most happiness from? Where are you putting your efforts and your time and your attention and are you able to understand and be grateful for everything that’s going on? It’s just so incredible, the business that we’re in and it’s difficult and it’s frustrating and deals fall out or months get lean or whatever it is. You know what I mean? Self doubt starts creeping in and you start thinking about all this crazy stuff.
Then you start callousing your mind a little bit and you start building up over time, you start building up the endurance to be able to understand that this is a long time. This is a long race. This isn’t a sprint. You know what I mean? You could do this till you’re 103 years old. You know what I mean? We could be doing this forever. That’s the exciting thing about it. I think that it’s wonderful what you said there about just being able to switch your mind and time block and make sure that when you’re there, you’re actually engaged. I know plenty of people that go home and they’re still thinking about their business or they’re on all the time or even if they have a job, they’re thinking about that all the time. But to be able to switch off and to really be dedicated, I think it’s super, super healthy and I love it. And you moved to Florida and you’re by the beach and you’re like living the life, man.

Josh Nicodemus: It’s the best. I’m telling you. That’s the great thing about this business, right? You have options, right? You want to make 100 million in a year. You can do that, right? You can be that guy and make that money. But you know, they also have the option of it can be a lifestyle business, right? I was talking with my good friend Louis this morning about that and it can be a lifestyle business, where you just make excellent money and you have the schedule that you want and you live the way you want on your time and your schedule with your family. You can do a lot of different things and that’s what I love about it.

Brent Daniels: Love it. So, speak to anybody listening out there that’s never done a deal. How would you get them? What advice would you tell them to get their first deal?

Josh Nicodemus: Well, I mean for me, there’s a level of tenacity that you have to have and a level of faith, right? I remember, it wasn’t that long ago and I remember what it was like before I had my first deal done and I thought, “Man, is this business even real? It just sounds too good to be true. Can it really be that possible to make this much money in this little amount of time?” Of course, being on the other side of that now I can say yes, but at the time it was terrifying. You got to have that level of tenacity and be determined to go out and take it down. That’s why we like rhinoceros success, right? Because it’s to get out there and do what it takes to make it happen.
When I first started, I was getting up at three o’clock in the morning and putting out bandit signs before work, because I wanted it. I wanted it bad enough. That’s really all it takes. You have to want it bad enough. I wish I had a real tactical thing. I could say, we’ll do this or do that. Whether it’s spend three hours a day on the phone, if that’s what it takes for you to just be dedicated and set in your mind to do it. What else can I say, be determined.

Brent Daniels: Awesome. I love it. I love it. I love this interview. This has been phenomenal for me personally. I just love it. This is a long time coming, so I want to thank you for being on the podcast. If people want to get ahold of you, what’s the best way that they can kind of reach out and get into your world a little bit?

Josh Nicodemus: Yeah, absolutely. I’m pretty active on Facebook. I’m too old school for Twitter and other stuff, but find me on Facebook, Josh Nicodemus. I’m in all the other group forums. Well, it’s all over Facebook. Or you can catch me on email or whatever. My email is Josh.valorproperties@gmail.com.

Brent Daniels: Love it. Thank you so much. For everybody out there, If you are in a place right now where you are ready to be absolutely proactive to take action, this podcast is phenomenal and the audience is phenomenal but it is just words. It is just instruction. It takes action to be able to put this into place and to start making a real difference in your community. So one, take action on everything that you’ve heard on this podcast, on the other ones. Also if you’re looking to level up to the next level to get into that mentorship program that we were talking about before at the beginning of this program, that both Josh and I have been through and you’re looking for something that is the most proactive groove in real estate, you got to set a call with wholesalinginc.com/ttp, wholesalinginc.com/ttp. Set up a call. We would love to talk with you, see if it is the right fit for your business. If it is, I will be talking to you personally soon and mentoring you personally soon. I’m excited to do that. Anyway, Josh, you’re the man. So much love. Love you guys all on the podcast. Until next time, talk to people. See ya.

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