Ever wondered if it would be a good idea to build a wholesaling business with a partner? In today’s episode, you’ll find out how a wholesaling partnership works so you can decide if it is right for you.
Terone Johnson and Omari Heflin are two focused and driven wholesalers from Indiana. While they each started out venturing in the real estate arena on their own, they eventually found out they are able to accomplish more working with each other.
In this episode, you’ll hear about their individual wholesaling journeys, their real estate hits and misses, how they ended up working together, and how they were able to close numerous deals in such a short amount of time, among many others.
Ever the go-givers, Terone and Omari also candidly shared some of the tricks, tips, and insights that has helped them achieve the success they are currently enjoying. So many gold nuggets in today’s episode, you owe it to yourself not to miss it!
- Why TTP (Talking to People) is not limited to reaching out to sellers alone
- How their first year as wholesalers went
- Some of the big deals they did
- One tactic they do to create a “feeding frenzy”
- Why they price their properties low
- What their business relationship is like and how they work as a team
- How they found most of their deals
- The list they are calling
- Download your Free Audio Book
- Brent Daniels – Real Estate Coach on Youtube
- Episode 149: How a Prolific Wholesaler Closed 354 Deals in 2017 with Brett Snodgrass
- Wholesaling Inc – TTP
- Terone on LinkedIn
- Terone’s Email Address: email@example.com
- Omari on Facebook
- Omari on Instagram
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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Brent Daniels: Woo-wee. Welcome, everybody, to the Wholesaling, Inc. podcast. My name is Brent Daniels. It is my pleasure to bring from the Midwest to the West Coast, two amazing wholesalers that are really, really making some waves out in their communities when it comes to wholesaling property. But, before I do, I need to remind you this. This is what I need to remind you. Remember, you are who you hang around with. Okay? You are a combination of the five people that you spend the most time with. So, protect that, guard that. But, not only that, when you are alone, remember, garbage in, garbage out. All the negativity that you put in social media, through watching TV, through all these other mediums, all the negativity, all the drama, all this stuff, it’s going to come out of you. Garbage in, garbage out. So, protect yourself.
So, here we go guys. I am coming with two guys, here, on this podcast. One from Indianapolis, one that’s in L.A. Both these guys are working a partnership. They’re going to explain everything that’s going on but they’re doing phenomenal things. I want to welcome Omari and Tyrone to the podcast. Say, Hello.
Tyrone: Hey, how’s it going, Brent?
Omari: What’s going on guys?
Brent Daniels: Let everybody know who’s who here.
Omari: Okay. Right. So, I’m Omari. I’m going to just go ahead a speak first. I’m here in Indianapolis. That’s my partner, Tyrone. He’s out in Los Angeles. Yes, we’re partners. We, actually, own Legacy Home Buyers in Indianapolis.
Brent Daniels: Awesome.
Tyrone: I’m Tyrone. I’m from Indianapolis, originally. Moved here about three years ago. I’ve been doing all of my business over in the Indianapolis area.
Brent Daniels: Awesome, awesome. For everybody listening to this, if you want to see the video of this, it’s at Brent Daniels Real Estate on YouTube. Definitely, check it out. Remember, 70% of communication comes from visual. Right? From mannerisms. So, definitely, come check us out on the YouTube channel. But, let’s talk about these guys. So, you guys are, both, from Indianapolis. How do you guys even find wholesaling real estate? How do you discover this?
Omari: Tyrone, I think you can go first. Your story is…
Tyrone: Okay, yes. I, actually, as we spoke about before, I was playing basketball at Perdue University. Then, I ended up getting a professional contract over in Greece in a league over there. So, I would always be in my apartment over there, and I had nothing to do. Other than go to practice, I would take a break in the middle of the day, and then I would go back to practice, and then I would go to sleep. And, I didn’t know anyone there. So, my biggest thing was, in my spare time, I needed to find something that I could possibly invest my money into as I was making it overseas.
I came by a guy, who was speaking about it. A guy by the name of, I believe, Jay Morrison. He, actually, was talking about it very briefly. And, that’s what got me to dive into it. I learned a little bit about it and really didn’t take action into it, but studied it. And, I ran into the Wholesaling, Inc. podcast a couple years later. From there, I put out some mail myself. I wrote it up. My wife’s brother, he worked at a mail place here. He helped me send them out for a cheap rate, and I ended up getting a deal off of that. I, also, ended getting a deal off my mom. She would drive and saw a property. Sent me the address, I looked it up, I called the person, believe it or not, and I got a deal off that. That’s was my first deal, actually. I believe you had a guest on here, Brett Snodgrass.
Brent Daniels: Yes.
Tyrone: And, he helped me throughout the deal and walked me through it, and showed me the ropes.
Brent Daniels: Awesome.
Tyrone: That’s how I ran into it myself. And, ran into this guy, actually, while I was marketing one of my properties, because he was into flipping at the time, so I’ll let him go ahead and take it from here.
Brent Daniels: Go ahead, Omari.
Omari: Right. So, Brent, it’s crazy, it’s crazy. Number one, I love your energy. What gets me, Brent, on his videos. He’s like, “Listen to me. Listen to me.”
Brent Daniels: 70%. Listen to me. 70% of communication.
Omari: I love it. So, how I got into real estate, actually, was on the flipper side for Brent, believe it or not. I got into flipping. I just really wanted to understand it, at the time. I, actually, worked at a sales company called Defenders. It’s a security company for ADT. You ever heard of ADT? It’s a mere provider for ADT. So, we would do a lot of inside calls. I was a hero, what they called it, pretty much like, when you go to a car dealership, and they can’t close the deal and they say, “Oh, let me go get my manager.” I was the manager.
Brent Daniels: Ah. Got it. Okay.
Omari: I was doing that. Doing really well. Out of nowhere, I get fired for even something I didn’t even do. Even to this day, still [inaudible 00:06:31] But, I just had faith, and I’m like, well, this must mean that something’s going to go right in my direction. So, I looked at real estate. I knew about it, but I had a couple people that were around me that was doing. So, I took the time to, actually, learn everything that I could. I mean, Brent, I was running to Home Depot, tearing down walls early mornings, late nights. Coughing at night, asking if stuff was getting into my throat. It was interesting. I still have two flips going on right now, but it’s me and another partnership, and he has a whole system. But, if it wasn’t for that, I wouldn’t do it.
I, actually, ended up getting into flipping. So, I started to learn a lot of the investors in the industry all together. I already knew of Tyrone, just because my brother played basketball, as well. So, his story is similar to Tyrone’s. He came back, got into real estate. That influenced me to get into real estate, and then I, accidentally, wholesaled [inaudible 00:07:33] Brent, believe it or not.
Brent Daniels: Nice.
Brent Daniels: How do you accidentally do this? Walk us through this.
Omari: Yes. Let me explain. So, Brett, once again, shout out to him. He’s really helped us. We, actually, closed a deal with him today, as well. So, Brett had a property, and it came to my email. I checked it out. At the time, my older brother, wanted to buy another property. So I saw it marketed at $67,000, and he saw it marketed at $69,000. Kid you not. This was on Thanksgiving a couple years ago. He called me and said, “Hey man. I found this property. I’m going to move forward on it. It cost $69,000.” I said, “What’s the address?” He told me the address. I said, “Hold on. I see this property here for 67, if I can get it for 67, will you give me the difference?” Had no clue about wholesaling. It was like, “Yeah, I’ll do that.” I called them up, and I said, “I see this at 67, can I get it.” Of course, they said, “Yes.” I probably could have got them lower.
Brent Daniels: Yeah.
Omari: He was like, “Yes, you can have it at 67.” I said, “Okay, perfect.” So, I ended up making $2,000 like that and I was like, wow, that was easy. All I did was make one phone call. How can I, actually, really do this. Then-
Brent Daniels: So, wait. Your first wholesale deal was selling a deal to your brother on Thanksgiving?
Omari: Very tandem, very, whatever you want to call it, it was crazy. So, after that… Brent, I’ve got to give it to you, man. Because, a lot of people don’t believe this. When you have no knowledge about wholesaling, you, actually, can get off to a better start.
Brent Daniels: That’s 100% right.
Tyrone: Better. It’s always better.
Omari: Brent, I knew nothing about ARV or a buyer’s list, nothing. I knew nothing about that. This is what I did. I went out, and I said, okay, well I’m pretty good on Facebook. Let me try to reach out to my network. I reached out to Tyrone. I said, “Man, do you happen to have any deals?” This is where I started to turn. I’m still working on my flip, it’s getting done, but it’s a slow process. Slow. It’s three times as long as it was suppose to, of course.
And, I want to figure out what wholesaling is. Like, what is this, really? So, I reached out to Tyrone. I said, “Man, do you have a build that you can let me see if I can find somebody to buy on?” He was like, “Yes, I got this one.” Sent it to me. No lie, I sent it out… I put it out online, and I had a buyer and we closed three days later, or four days later?
Tyrone: Four days later. Mind you, this is the per sale by owner that I just put an offering on, online randomly, put the offering on and got it accepted. So, I was in the process with how am I going to get this closing in 14 days. And, that’s when he said that. And, next thing you know, we closed it up in four days. The agent is super happy, because they were trying to help them get the property sold. And, they were like, “Man, you guys are great. You guys move very fast.”
Brent Daniels: They love you, right? It’s amazing what happens when you’re, actually, being pro-active, right? When you’re going after a for sale by owner, you get it locked up. He’s not reaching out to you off of advertising. He’s not reaching out to you off the marketing. You get this deal, and being pro-active as you are, Omari, you reach out to Tyrone and say, “Hey, do you got any deals that, maybe, I can help you sell or get rid of,” whatever it is, and boom, now you’re going. Right? Nothing that happens, there’s no income producers, no value in the market produce if you guys aren’t taking action. That’s it.
Tyrone: It’s all about action.
Brent Daniels: It’s just talking to people.
Omari: I just got to interrupt you, man. I just got to say that, it really is just talking to people. I know, maybe, just from my perspective, before I even got into Wholesaling, Inc., before I even knew who you guys were when I started to understand real estate and this whole wholesale thing, I would look at things, and I’m like, oh, okay, well, they’ve already done it. They’re making it so simple, it can’t just be that simple. It can’t just be that simple.
Omari: It’s, like, mindset. TTP is the perfect, it’s the perfect… I don’t know how you came up with that, if it was you, if it was your [crosstalk 00:11:46] came up with that, but it, literally,… It’s like Nike, the Just Do It saying. It fits. It fits. [crosstalk 00:11:52] Talk to people, wholesaling, it goes together, and it’s more of a mindset than anything else. It’s more of a mindset, a reminder to continuously-
Tyrone: One thing about that, too. I think what one thing that people think, when they hear us talk about the TTP and the talk to people thing, is that we’re only talking to sellers. No, we’re reaching out everyone.
Tyrone: We’re calling buyers. We built our buyers’ list up to, what? 800 and something they are, at this point. We were able to implement some things from the program. Obviously, the trade your list up. We were reaching out, we were calling people. Omari ended up calling a guy that ended up agreeing to it. And, that, actually, double our list. Now, we’re proactively calling buyers. We’re looking up the buyers on certain properties, and we’re, actually, reaching out to these buyers. So, that’s something [inaudible 00:12:43] It’s just talking to people all across the board-
Brent Daniels: It is.
Tyrone: … Not just reaching out to sellers.
Brent Daniels: It’s talking to your closing attorneys, there’s title companies, it’s talking to private money lenders, it’s talking to people that want to invest in you, it’s talking to buyers, it’s talking to sellers, it’s talking to other wholesalers for other ideas, it’s talking to people that do land flips and people that do… You know what I mean? It’s all about being proactive and talking to people. It’s not just… People think that, well, TTP just means cold calling. No. It’s, literally, communicating with people about what you’re passionate about which is being a real estate entrepreneur. That’s it.
Omari: That’s all it is. It’s like real estate, or wholesaling, specifically, is just talking to people, literally. If you do that, then deals are going to come. I promise you 110%. If you like, “Hey, I just need to talk…” Just like what you say. But, I know, just being a new person, I know what it feels like listening to that. Brent, oh, you have a successful mega business, you’re out in Phoenix, Arizona, you’re doing this, you’re on the 19th floor, look at your background. You’re not just talking to people. Yes, we are.
Tyrone: That’s what he’s doing.
Brent Daniels: That’s it.
Tyrone: That’s what he’s doing.
Omari: That’s it.
Brent Daniels: That’s the whole culture there. It’s incredible. Well, let’s look at you guys progression. So, when did you first do your first deal? What year?
Tyrone: I did my first deal, I believe, in 2016. It was, actually, December of 2016. And, then, I didn’t do another one for a long time, after that. I got with Omari about a year after that when we did that deal. But, yes, that was my first deal over in Indianapolis. It was December of 2016, I believe. And, I made about… I split that with Brett and those guys, and I made about $6500 off of that for my first deal. I was super hyped.
Brent Daniels: Yeah.
Tyrone: I didn’t know what to do next, but I knew I wanted to more of that. Next thing you know, January of this year, after we done a couple of deals together, we were like, man, let’s just go ahead and put this together, let’s go ahead and link up. We ended up finding out that we were from the same part of town in Indianapolis. We, literally, lived super close to each other, probably as kids, and stuff like that. But, we never ran across each other. And, that’s crazy in small city like Indianapolis. But, we, literally, know the same people. It’s like, Oh, you know him?” “Yeah, I know him. Yeah. That’s my buddy.”
Brent Daniels: Yeah.
Tyrone: We just connected to the same people. It just made a lot of sense and it happened at the perfect time. So, that’s why we ended up joining up here, literally, in January of this year, and formed Legacy Home Buyer. Then, it was time to go ahead and get into TTP and get this thing rolling.
Brent Daniels: Omari, when did you start?
Omari: Well, I started in October of 2017, is when I, actually, got my first flip.
Brent Daniels: Okay.
Omari: That’s when I first, initially, got into real estate. Thanksgiving. So, maybe, a week after that is when we closed that deal. So, the beginning of December, is my accident deal. Right after that, in January, I did another deal with my brother, and then right after that, in March… So, a year from now is when me and him, actually, did our first deal. So, I would say, roughly around, a year I’ve been host of it.
Brent Daniels: Talk to me… Each of you guys, tell me how did your first year go? How does your first year feel, how does your first year… The first year into it? Talk to me about that. Talk to me about what’s going through your head as you’re starting to put together these deals as you’re crawling, to walking, to, now, running. Tell me about that process. Tell me that journey.
Tyrone: I know, for me, I’ll take it on first, because I’m not going to kid around. I listened to Wholesaling, Inc., everyday.
Brent Daniels: Yes.
Tyrone: When I first started to, actually, get serious about it, and man, Tom Krol and Kody, and all of those guys, I learned so much from those dudes. I was like let me try to just implement… They would always say implement, implement, just go ahead and implement it. Just take off running. Fail forward. And that was something that was huge for me. So, I would, literally, fail forward. There were some properties that, I was like there was no way I can sell this property. And then, I ended up getting it under contract, throwing it out. I might not make a huge fee off of it, but I made something.
I was telling Omari, it’s like we were looking at these dealers, like, wow, am I, actually, doing this? Am I turning this into a business? I would talk to some of my friends and things of that sort, and they didn’t get anything that I was doing. They were listening but they were like what is this dude really doing? He’s not really buying homes, he’s not really flipping homes, so what, exactly, is he doing? Even my wife, she sits there and listens to me, but I know she doesn’t know what I’m doing half the time. She’s just sitting there listening to me. But, she knows it’s bringing in some money now. So, that doesn’t matter right now.
Brent Daniels: Oh, I’m certain if you ask my wife what I did, she’d be like, “I don’t know. Real estate?”
Tyrone: Exactly. Like you said, one big thing for me is when I look back, man, I wished I would have joined something like this a lot sooner.
Brent Daniels: Sure.
Tyrone: And, I had it in front of me, because I would listen to you guys everyday. But, like Omari said, I’m looking like, man, these dudes are doing more than what they say they’re doing. They have to have some type of weird hook up or something like that.
Brent Daniels: Some secret, yeah. Some secret formula they’re keeping from all the masses. Yeah.
Brent Daniels: They couldn’t possibly be giving it all away.
Tyrone: Exactly. And, man, they were giving it all away. Just being helpful. The go-getter mindset, they were, definitely, being super helpful to us. This getting to where I am now, I’ve grown a ton, man. And, learned a ton just from doing. I didn’t take a lot of time… I can tell you now, I read zero wholesaling books. Zero, on wholesaling. I read some books that help me out now that I’m getting more serious with it, but it was like I just really… Tom and them would say, go out, this is how you build your list. I’d go out and try to build my list like that. Or, I’ll try to go and get these lists, and the tax lists, or certain things. So, yes, that’s how my first year or so, went.
Brent Daniels: Awesome.
Omari: Progress, not perfection.
Brent Daniels: Progress, not perfection.
Omari: That’s it. So, I forget what your initial question was.
Brent Daniels: Just your first year. How did your first year go? How did you evolve… Because we’re going to talk about where you guys are at now and your processes, and what you guys do and your relationship between you two. But, your first year… Imagine you’re speaking to somebody, like you guys were, before you guys really got going when you just heard wholesaling, sorry, get going, what was your mindset after you got your first 2000, and then you got your other deal? And, then, you started putting… All of a sudden, the train starts rolling, right?
Omari: Right. I don’t want anybody to see this or take this the wrong way, or anything at all, because I want them to know that it’s coming from a genuine standpoint. When you first make the deal, and it’s 2000, 5000, whatever, versus the amount of time that you put into that, you’re like, “What? Wait.” I just did, what, 10 hours, five hours, 20 hours, whatever it is, it’s still not equivalent to going to work 40 hours a week for a month.
Tyrone: It’s not. Trust me.
Omari: I’m just saying, even $2000, some people may bring that home, some people, may not, even still bring that home after 40 hours per week in a month. So, it’s a complete mindset shift… It was more like, wow, all the work that I’m doing for somebody else, I can, actually, do for myself. The work that I’m doing for somebody else, maybe, even more [inaudible 00:20:28] and I’m still not at this level. But, if I took the 40 hours a week that I worked and did for somebody else, and I put that into this business, it’s just a complete mind shift. It’s to shift your value, your work. You feel it, maybe, deep down inside, that you will work more, that you want to go after your dream.
But, after you have just one moment, is like wow. The money’s not everything, it just shifts your position about it. Now, I’m like, $7, how could somebody work for $7. How is that even legal?
Tyrone: Mm-hmm (affirmative)-
Brent Daniels: Yeah. You make a beautiful point, because even if it was a $2000 check, it was real. You went from believing that, maybe this could happen, to it being an absolute fact. Like, wait. I could put this check into my bank account, and do this, as many times, as possible. Yeah. Yeah, you can. That’s the beautiful part, right? So, I get it. Yeah.
Omari: Last… I want to add to that, Brent. I’m sorry. It was funny. I had a conversation with somebody, right? This is after I did my accidental deal, I did one more deal after that. Me and Tyrone did a deal, and then we started to do deals. It was still a hustler type of mentality, but it was just working. I knew nothing about wholesaling, but I was just going after it. I remember I had just got done with my flip, and I was having a conversation with somebody. They were like, “Man, you can go and do this, or you can go and do that. You’re not doing anything. You don’t go to work.” I said, “It’s so funny how [crosstalk 00:22:08]
Even me, even me, even me. I felt like, is this… Okay, this feels like I’m cheating or something. I’ve got sort of a complacent mentality after doing that so quickly like that. Making $20,000, $25,000, fairly quickly, and not being able to make that in that period of time like that, and it’s like, wow, I’m really not doing anything. But, I am doing something. I, actually, am doing something. But, they’re equating that I have to work 40 hours a week to, actually, be working. I don’t know if that makes sense.
Brent Daniels: It, totally, makes sense. And, we talk about this. We talk about it in TTP, we talk about it in Wholesaling, Inc. podcast. Your income’s equal to the amount of value you provide to the market place. The hardest thing, you’re saying is, wait a second. I knew if I did Job X, if I went out, and I was that closer for ADT, and I went in there, and I got it done, man, I would get paid, and that’s what I know I can do.
Or, you could have 45 minutes worth of conversation with somebody that’s a distress property owner, you can solve their problem. You can, then, talk to somebody that is looking for the opportunity to provide for their family by flipping properties, or Legacy wealth, or whatever. You can put them together, and you get big checks. Yes.
Brent Daniels: That’s the value. Who else is doing it? That’s the value.
Omari: It’s, literally, crazy.
Brent Daniels: Let’s talk about some big deals. Let’s talk about some big checks. Let’s talk about really putting something together. Do you guys, each, have one that you can talk about?
Tyrone: We were going to go over one deal, for sure-
Brent Daniels: Okay.
Tyrone: … That we had. This was one in Indianapolis.
Brent Daniels: Let’s do it.
Tyrone: We started the TTP program, about-
Brent Daniels: Like 14 minutes ago? I swear. Holy cow.
Tyrone: … mid-January. We, actually, had a VA that was doing some calling for us. She was, actually, from the Philippines. God bless her heart. But, she wasn’t getting the exact amount of leads that we were getting. When we were, actually, over the phone, and doing it ourselves… Shout out to you. You’re always say that. We didn’t go that route, at first, so we had her making the calls. And, Omari was making them as well. But, she, actually, out of that time, she brought in one lead, and she said this lady, she lives down in California, she just wants to figure out if she wants to sell the property. She said she’s very interested. She’s looking to open up a business of some sort. So, give her a call.
At this time, I was just now getting off from work. I was heading home. About 7:00 our time, I gave her a call, and she didn’t pick up. I ended up leaving her a voicemail. Then, Saturday morning, I, actually, gave her a phone call about 10:00 a.m., and she picked up. We hit it off. I was like, “Yes, I’m, actually, from Indianapolis. I live here in California, too.” Kind of build some rapport with her over the phone. So, she got to telling me the in’s and out’s of the property. Me, myself, I had done a deal in this same exact neighborhood, on the same exact street. Actually, the property was, what? Across the street, Omari? The deal I did, yes, it was across the street.
So, I knew exactly what we could pay in this area. When I got off the phone, I hit Omari up, and was like, “Man, I think this one gone be a good one. I think we gone have a good buyer based on it, as well.” Because, I remember, before that it was a lot of buyers that really wanted that deal. So, we go back and forth on price, and me and Omari spoke. And, we ended up getting it under contract for… What was it?
Omari: 76, I think.
Omari: Or, no. It was 73 at first, right?
Tyrone: It was 73, at first. We got it under contract for 73, and then she came back. I guess she owed something to the property management company. We didn’t want to hit her over the head, either, so what we did was we were like, maybe we could go ahead and help you out with that. She owed them $3,000. She was like if you guys could just pay that off-
Brent Daniels: Sure.
Tyrone: … We could move forward. If not, she just wants to wait the few months out, and then she’ll sell after she pays that off. So, it made a lot of sense for us to go ahead and move forward with that. So, from there… Now we’re at $76,000. We, actually, took one of your titles. Omari, didn’t you get it from Brent, I think it was, where we put the price out there a little lower. And, this was something I wasn’t completely down with, but [crosstalk 00:26:46]
Omari: Brent, it was like [crosstalk 00:26:50]
Tyrone: We got some way of life for believing each other at the right time.
Brent Daniels: Yes.
Tyrone: So, man, I don’t know. He was like I’m tell you man, let’s just put it out there. 81,000, let’s see what we can. I was like, Bro, we can, definitely, sell it for more than 81… He was like let’s just see what we can do. And, we watched the podcast, listened to it a ton. The one packet that I’ve taken that we’ve been doing on each deal, as well, now is just having all our buyers show up at the same time.
Brent Daniels: Right.
Tyrone: It’s like a feeding frenzy, honestly. So, we hit our whole list. We called as many people to have them over there that week. By the time they got out to the property, Omari met them at the property. They walked through it, and then we had offers coming in, literally, right after. Our first offer came in over the asking price. I was like, see. You were right.
Brent Daniels: Here it comes.
Tyrone: He was right.
Brent Daniels: Here it comes.
Tyrone: So, yes, from there, man, it got bidded up. It ended up getting bidded up, to what? 86,000, I believe.
Omari: Tell him the story though.
Tyrone: You go ahead. You take it from here on that part.
Omari: Okay. All right, Brent. So, this is what happened. We get the deal. 76, buyers come, we walk though it, it’s probably about maybe 12-15, no, maybe, at least 15 people there, realtors and buyers. They walk through the property. I think the first offer was 79, I think. I think. So, we’re like, no.
Tyrone: Yes, that was before they walked the property. Yes.
Omari: I don’t even think we responded yet, because it was so quick, honestly. So, we had the realtor say, “Hey, we’ll pay 82. And, Tyrone hit me with that. It was like, man, cool, we got 82, we got over asking. He said, “You think we should go with that.” I said no. He said that, too. I said, “Hey, if you do 84, we want to move this deal. We want it to move pretty quickly. If you can do 84, we can lock it up.” They sent it back 84. I still comment. It bothered me. I’m like… It’s too quick. But, we already gave them our word. We wanted to be honorable to that. Whatever$. We’re learning.
Brent, 10 minutes later, we had an offer come in at 86,000.
Brent Daniels: That’s it. That’s it.
Tyrone: 10 minutes later. 10 minutes later.
Brent Daniels: 10 minutes later. So, it went smooth. It closed. Everything, boom. Good buyer.
Tyrone: It closed in a week. The terms were five days closed, no extension period. Nothing of that sort. So, that was a good thing, too. I like those type of closings. Five days, all cash, and no inspection period. That, actually, was a good offer.
Brent Daniels: So, Omari, explain why you set the price at low, and to bring everybody at the same time.
Omari: Well, what happens is exactly what you guys say. When you placed it low, people, realtors, investors, if they see something, and they know it’s a good deal looking at it, they’re going to want to have more information. With them being able to come out to the property, they look at something and say, oh, that’s a nice deal, that’s priced pretty right, I know that area, X, Y, Z. They come out to the property, and they see a lot of other people there. There’s no time for them to put on their investor hat, and say, hey, well, I’m offering you 79 but my max is really 86. They don’t have time to do that, because they see everybody there at the same time. They’re going to give me what it really is. A majority of the time, they’re going to not try to play hardball with you. [crosstalk 00:30:19] It’s a lot of interest there.
Brent Daniels: So, what this is born from is, essentially, an auction. So, within the auction, especially with real estate, they’re going to set an opening bid. If it’s a low opening bid, you’re going to get a lot of people to bid. What happens when a mob of people get in front and want the same thing? They start competing. A little bit more, a little bit more, a little bit more, right? That’s the mentality of it, and it’s powerful. It really is. So, on that deal, what did you guys net?
Omari: Eight thou… Well, what did we net?
Brent Daniels: So, you got it at 76, sold it for 86?
Omari: We sold it for 84, because we had already sent the contract.
Brent Daniels: Oh, got it.
Omari: But, 10 minutes later, we got an offer for 86. I’m like, man, we probably could have went all the way to 90, maybe, but we-
Tyrone: And, you better believe, I let that buyer know we had an offer for 2,000 more, and we accepted it.
Brent Daniels: He better close it. So, what did you make on it?
Omari: Eight grand, 8,000.
Tyrone: Hey. I’ve been waiting to hear that.
Omari: I know.
Brent Daniels: Talk to me moving forward. Talk to me about pipeline. Talk to me about how you guys work together. Who does what here?
Omari: Let me, actually, speak. So, Brent, it’s been amazing. I talk about us, vaguely, before the program. Me and Tyrone’s relationship really, just honestly, happened organically. It just happened organically. Me and him were doing deals. He got married last year, and during that time, it was a lot going on with him, as well. And, I’m like, okay. So, we’re still doing deals, and we’re still developing our relationship. At the beginning of the year, I’m like, let’s just try it out. Let’s just go in together. Everything works well. We do most of our deals together, anyway. He’ll find something, and I’m a part of it. I find something, whatever, he’s a part of it.
So, January came around, we decided to be more in a mindset, of like, okay, let’s really try to sell this. Let’s really try to make this a full out business. So, Tyrone already had some experience with this. He, actually, told me about how to pull stuff from the county list. Honestly, Brent, he told me about Wholesaling, Inc. He told me about Wholesaling, Inc., so I started watching it. And he said, yes, this the program we need to get into. I’m tell you, this is what we need to do. We’ve been talking about this for months.
So, January come, and I called Tyrone. I said, “Tyrone, let’s just do wholesaling. Let’s just do it.” And he was like, “I mean, we can. Let’s just do, maybe, another deal. Let’s do it till…” I said, “No. Let’s do it.” I know that let’s just do it and let’s see what comes out of it, and it helps our mindset understand the infrastructure to build to be able to have consistency. So, pipeline now. Let’s say, we started January, middle of January to now, we had that deal last week. We closed two deals today. Those were 10,500…
Tyrone: So, we closed one… That one was 8,000. We closed another one for 8,000 today, and then, another one for 2,500 today. We have a pending one at 6,000 that will close the middle of next month. And, we just gone one under contract in the pipeline, that’s possibly, going to make us $10,000, as well. And, we have-
Brent Daniels: How’d you find those deals?
Tyrone: … This is all TTP.
Omari: So, we have one, I think, that was a referral. And, yes, one TTP.
Tyrone: Yes, one was a referral. One was a referral.
Brent Daniels: Okay, who are you guys calling for those deals? What list?
Omari: So, we called absentee owner. That was for the deal he beat [inaudible 00:34:06] We called absentee owner for that one. Another deal that we closed was with absentee owner, as well.
Tyrone: Owner, or occupant, we’re calling.
Omari: Trying to think where the deals came from. Two of them, for sure, was absentee owner. The other one, was a referral that we had as speaking of over this last week.
Brent Daniels: So, since mid-January, going through the TTP program, starting for you guys to get on the phones, having somebody else do it, but not being effective. You guys, what is that, 60 something days, it’s four deals? Is that right?
Tyrone: Yeah, man. We’re just-
Brent Daniels: You’re just warming up.
Omari: Well, we had two [crosstalk 00:34:47] We had two deals, prior to this that were about 5,000. So, we did that, pretty much, when we first got into TTP.
Brent Daniels: Yes.
Omari: We closed both of those, and then we, actually, had pipelines starting to build. Like you said, it takes about 30, 60, 90 days. Brent, I had a guy call me today out of nowhere, and say, “Hey, man, I think I have somebody that I can, actually, refer you.” I don’t even remember talking to him. So, when you put one foot in front of the other, it will come. I had two appointments yesterday. One, we got under contract. That’s more of a different type of deal. Ground street, from where you’re subject to [crosstalk 00:35:32] Still more on that, and we’re getting a lot more familiar with that whole process. So, two of my appointments yesterday were those.
I had two today. One, me and Tyrone, actually, had to talk about to run the numbers, and see if we could lock it up. But, she [inaudible 00:35:48] at the end of that phone call.
Brent Daniels: Lock it up. There’s nothing to talk about. Omari, there’s nothing to talk about. Go lock it up.
Omari: Yes, we’re going to lock it. [crosstalk 00:35:58] It’s all love. We have a pipeline going, like you said. We’ve got one that close next month, in the middle of next month. We’ve got one that we got under contract today. It should, at least, be between 10 and 15. We’re going to be between 20 and 30 people-
Brent Daniels: And, did you know they’re only going to get bigger and bigger and bigger and bigger?
Tyrone: And, that’s one thing we were saying. Our assignments are getting a lot bigger than what we were getting last year, 100%.
Brent Daniels: Yes. Well, one you’re building a buyer data base. And, two, I guarantee you, that you’re being stronger in anchoring lower on those prices with the homeowners. Those two things combined, literally, took me, in Phoenix, from $5,000 a deal to $12,000, to now $21,000 a deal. You know what I mean? Just those two things. The cash buyer data base, anchoring low on price. And, you guys are going. You guys are going, going, going… The momentum’s going.
Brent Daniels: Yeah.
Tyrone: This being huge. I think we’re just over $30,000 since we’ve been in the program. So, it’s been huge for us.
Brent Daniels: I love it. I love it. It’s just getting started. And you guys told me… I think Omari said, “Hey, I’m going to be on that podcast next month.”
Omari: We kept talking about it. 60 days, 60 days. What’s so funny, though. Brent, remember I was talking to you? This is a fun fact. I deejay. So, I was talking to him.
Brent Daniels: Yes.
Omari: Remember. So, Skylar end up calling me, and I was talking to him about it. I said, “Trust me, man. We’re going to get into the program. I’m busy today. I can do it tomorrow or Monday,” or whatever it was. I ended up talking to you, and you were like, “Omari, come on, man, what are you doing? You might as well get into the program. It’s going to be a complete 180 change for you. [inaudible 00:37:46] I can tell you got what it takes. Just go ahead and invest in yourself.” You got to see it blossoming, man. It’s been beautiful.
Brent Daniels: Awesome.
Omari: I told Tyrone, I said, “Man, we’re just doing it.” I made the decision, and yes, we’re grateful.
Tyrone: Very grateful.
Brent Daniels: I’m grateful to work with you guys. You guys are a huge example. I think this is one of the best podcast that I’ve ever done. I really, really want to thank you. If people want to reach out to you, is there a way to find you? Maybe on Instagram or Facebook or email. What do you guys prefer?
Omari: Go ahead, Tyrone.
Tyrone: I’m on Facebook. This is my regular name, Tyrone Johnson. People can reach out to me, email, anyway. My email is firstname.lastname@example.org. They can reach out to me directly. I’m happy to answer any questions, helping you on how… I’m looking to give, for sure, man. Any tips or anything that anyone needs, doesn’t matter what market you’re in, I’ll try to help you out for sure.
Brent Daniels: Nice. Omari?
Omari: For me, it’s my first name and last name on Facebook. Omari Heflin. Instagram, @ospeaks.
Brent Daniels: Speaks, yes.
Omari: So, those are the, probably, two best ways I would say social media wise. You can send me email, but it would, honestly, be better on social media.
Brent Daniels: Hey, guys, if you’re in the market, if you’re in Indianapolis, reach out to these guys. You know what I mean? If you have a deal that you’re having trouble selling, or you’re wondering if it even is a deal, remember we start out in this business. The hardest thing is deal or no deal. Right? Is this a deal or is this not a deal. The second hardest, is how big of a deal is it. Right?
So, you guys leaned on and got really good help from Brett Snodgrass, which he’s been doing a ton of his [inaudible 00:39:45] Now you guys are in that position to be able to help. Guys, if you’re in Indianapolis listening to this, reach out to them through those means. Really connect and build your network. Guys, phenomenal. Great job. We did 40 minutes here. Phenomenal. We could, probably, go for another two hours, but it’s whatever. 40 minutes is good. Anyway, you guys are the best. I really, really, really appreciate you guys. I hope that your Boilermakers win today. [crosstalk 00:40:13]
Tyrone: Yes, man. It’s, actually, right now, going down to the wire as we’re talking.
Brent Daniels: [inaudible 00:40:19] podcast. That’s how dedicated he is. All right, guys. If you’re looking to take your business to the next level, if you’re looking to join and meet and be in a network with these guys, incredible people around the country, go to wholesalinginc.com/ttp. Don’t mess around like Omari did and wait a bunch of times. Just jump right in. Get in, get connected. I’d love to work with you personally. Until next time, guys, I love you. See you later.