Posted on: May 20, 2019

While the saying “two heads are better than one” sounds cliche, it works very well when it comes to wholesaling. And the story of our two rockstar guests today is solid proof!

Mason and Travis are business partners and wholesaling newbies. However, even if they’re still both trying to find their way around, the two rockstar rhinos are currently killing it in the wholesaling world. In fact, they’ve already found a total of 7 deals in just 6 months. What’s even more amazing? They are poised to earn a little over $70,000 for those deals!

The story of the two is something many wholesalers are quite familiar with. In a way, both are looking for something that’s fulfilling both monetarily and spiritually. After discovering wholesaling is the best option they have, they took massive imperfect actions, and the rest they say is history.

If you are looking for some much-needed inspiration to get your wholesaling efforts off to an amazing start, today’s episode would be perfect for you!

The Deal

  • Mason and Travis got their lead from consistently putting out bandit signs.
  • After talking to the seller, they realized he needed help moving out.
  • Ever ready to serve, the two got creative and helped seller out with his predicament.
  • After all has been said and done, they were able to secure the contract for $96,000, sold it for $111,000, and earned $15,000! Definitely a massive reward for the help and exceptional service they have provided.

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Episode Transcription

Cody Hofhine: You’re listening to another episode here on Wholesaling Inc. My name is Cody Hofhine and I’ll be hosting today’s episode where we have, not just one, but two rockstar rhinos that have done some deals already. They’ve done four deals, one of them that could be closing today for a fifth deal, and then they have two pending deals here in the near future. Now, the cool thing about this, all of this adds up to a little over $70,000.
They are going to be sharing their story today, but for those that might be just brand new, listening to the podcast for the first time, I want to tell you welcome to the Wholesaling Inc podcast where we talk about wholesaling real estate. And simply, wholesaling is just finding deeply discounted properties that you can then put under contract, and then from there, man you’ve got so many options on what you want to do to make your money. And we’re going to talk about one of those strategies today so get out a piece of paper, get a pen or a pencil, and get ready to jot down some gold nuggets because we have with us today Mason Mitchell and Travis Bennett from Des Moines, Iowa, and they’re going to break it down step-by-step how they just did a recent deal so that you can get out there and take massive imperfect action.
So Mason and Travis, how in the heck are you guys doing today?

Mason Mitchell: Doing amazing, Cody. We appreciate the opportunity to be on and looking forward to it.

New Speaker: I’m doing great.

Cody Hofhine: Cool! I love it! This is going to be great!
So the two of you kind of tell a background story of a little bit why each of you got into wholesaling and how the two of you were able to meet up and become business partners.

Mason Mitchell: Yeah, so I’ll start first. To keep it short, I’m originally from Des Moines, Iowa. I moved to Charlotte, North Carolina for the last six years of my life and I was always involved in racing. That’s been my life and career for a long time, and was in a development series owned by NASCAR. We won a lot of races and championships but I just was at a point in my life where I knew what I was doing wasn’t going to get me to where I wanted to be, and I wanted to make a change and had some real estate influence in my life before with my father and some other family members. And got to go into YouTube University and reading books and stuff.
Wanted to make a change, so I shut everything down in North Carolina, I moved back in August of 2018. Ended up joining the Tribe after I listened to the podcast a million times. And next thing you know, I’m at a real estate meet-up. My business partner, Travis, actually overheard a conversation of mine and we met up and started doing deals from there. And I’ll let Travis actually explain his background into real estate.

Cody Hofhine: Cool, cool. Keep going. Go for it, Travis! Show us your background!

Travis Bennett: My name is Travis, and yeah I’ve been interested in real estate for, I don’t know, going on a decade. I worked in a corporate world and it just wasn’t fulfilling, monetarily or spiritually, anything like that. I went to YouTube University, read every book that I could find as well, and I knew rental properties were kind of going to be the end-goal, and furthering down that path tried to look for business partners in the path. [inaudible 00:05:09] tried to look for friends and sort of convince them to this is kind of the path to go, but yeah, I just went to a real estate meet-up and met Mason and we kind of just hit it off right off the bat. And started tackling deals, and yeah, just sort of racing out of the box now. Just looking forward to add more deals to our portfolio and getting some more rentals taken down.

Cody Hofhine: This is awesome stuff. So the two of you joined the program just within maybe a month of each other.

Travis Bennett: Yeah.

Cody Hofhine: You guys go and take massive imperfect action on the instruction videos to go to these meet-ups and local Real Estate Investor Associations. You go there to do what the [inaudible 00:05:48] told you to do, and you end up meeting each other, and now here you guys are.
And now you’ve done four deals that have already closed, and three future deals. One of them should close today, but two pending in the future. So let’s go right into this and let’s go right to the meat and potatoes. This is some good stuff! A little over 70 grand is what I’ve written down in what has closed and what will close in the future. So let’s break down one of your most recent deals, and let’s break it down step by step how you were able to get this deal, the marketing, everything, and let’s help our listeners understand how they, too, can get their first wholesale deal.

Mason Mitchell: All right, so we’ll deep-dive one of our recent deals. Marketing source was an actual bandit sign.

Cody Hofhine: Bandit sign!

Mason Mitchell: Yeah.

Cody Hofhine: And by bandit sign, what did you have on this baby?

Mason Mitchell: I believe this one said, “I buy houses. Cash. Fast.” Something like that. Had a phone number for our Call Rail number, and I think it was on a weekend, and we actually met–

Cody Hofhine: How many bandit signs do you have to put out to get good numbers? Did you just put out one bandit sign, or were you putting out a ton of them?

Travis Bennett: I mean, it’s not even that many at a time, but you got to keep them up, though. That’s the hardest part.

Mason Mitchell: Yeah. [crosstalk 00:07:04].

Cody Hofhine: Do you feel like they get yanked down a lot? Is that why you feel like you have to stay consistent that the message is always up because the city’s pulling them off or because people break them off? What does that look like?

Travis Bennett: A lot of all of it really. City taking them down, people taking them down. We don’t put them in yards of anybody or else, unless we have [crosstalk 00:07:24].

Cody Hofhine: “Right here in your front yard! And I don’t care who owns it!”

Travis Bennett: Right.

Cody Hofhine: No, just kidding.

Mason Mitchell: “I will buy your house.”

Travis Bennett: The weather, too. That was about it.

Mason Mitchell: Yeah. We got really lucky. This year was a crazy winter, but we got lucky. One night, it was literally snowing as we were putting them out, and it was a huge snow so none of the city officials were going to go out there and pull them out. So those suckers stayed out there for two or three weeks! And we got pretty lucky.
We actually had a lot of deals during that period. This guy called and we met him, and then had some phone conversations and met back with him, and ended up signing the contract to do the deal. But it got pretty creative because this was a house that he’d inherited from his mother a few years back, lived in it for a while.

Cody Hofhine: Okay.

Mason Mitchell: And then he … He actually lived in this house for a while; he inherited another house that he just moved into so he needed to get rid of this house, and it was–

Cody Hofhine: So this guy’s inherited multiple homes.

Mason Mitchell: Yeah.

Cody Hofhine: And just wanted to kind of pick a different one of the two versus the one he was currently living in?

Mason Mitchell: Yeah.

Cody Hofhine: Okay.

Mason Mitchell: The most recent he got [inaudible 00:08:21] actually really nice. This one wasn’t that bad, but needed some work and it had some … just a lot of stuff in it. Hoarded a lot of stuff for many years. The pain point of it was moving. He just didn’t know what to do. He wasn’t in the greatest health with his back and stuff like that, so I told the seller, as you know, you have to get creative. So we got creative and put a little mini team together to move as much stuff as we could out of there to put into his new house, and that was the big help for him.

Cody Hofhine: So you’re saying … And this is Mason, right?

Mason Mitchell: Yep.

Cody Hofhine: You’re bringing up some good points here. Right out of the gate, you get on a phone call with this guy. You can tell that he’s inherited a home. There’s some motivation there, but you’re saying what really helped him select you, choose you, was the fact that you were able to really solve problems or serve him in a way that maybe other people, when they went in there, weren’t able to do?

Mason Mitchell: Yeah, I believe so, because the funny part was when we were actually moving him out we came across another investor’s postcard in his house. And so we know that somebody was trying to get it before us. The thing about bandit signs, is what I feel like people don’t realize, is that there’s a high motivation to begin with when they call you from a sign. But, yeah, we were able to put the team together and move his stuff to his new house, which was honestly pretty fun because the guy’s a funny guy. We had a great relationship with him and learned a ton, but if we didn’t do that … There’s an old saying, “A quick nickel’s better than a slow dime.” I’m a firm believer in that because if we didn’t do that, who knows how long it would’ve been for him to get stuff out of there, if he would have got stuff out of there to begin with?

Cody Hofhine: Yeah.

Mason Mitchell: And the close process could’ve been two, three months long or have even fell through. So I feel like you just got to do what you have to do to get the deal done at some cost.

Cody Hofhine: But this is crucial, guys! This is something that’s pretty unique and I’m looking at this whole structure, and I love this because this is exactly what I do. This is exactly what Tom does. And it’s exactly the way we even coach you within the Tribe is just go out there and serve people. And so many times we think it’s all about just the numbers or the prize, when really people are calling you on these postcards or a bandit sign, or however you’re marketing to these individuals. They’re reaching out to you. Everyone knows a realtor. Everyone knows they can list it and get possibly full price, but they’re reaching out for more.
There’s usually some kind of problem, or a trial, or a hiccup, or a struggle that they’re going through, that they want more than just their home being sold. They want these struggles, trials, or challenges also to have a solution for those. And as a wholesaler, I think that’s the best part about this business is the fact that you genuinely get to sit down, just like Mason and Travis here, sitting down with this gentleman and trying to find a way that’s over and above just purchasing their home. But it’s more, “This is perfect.” It’s serving the guy; it’s helping the guy; it’s solving problems. And here you guys are, allowed to now, by doing that, the by-product was you got a contract to purchase this gentleman’s house. Does that sound accurate?

Mason Mitchell: Yeah. Without a doubt. And we were able to … I think the process only took 30 days from signing it to closing it.

Cody Hofhine: Okay.

Mason Mitchell: And in between there, we moved everything.

Cody Hofhine: In the moving, how did that go? Help me understand. Is it something you just … I know these details, it sounds like it’s just little details, but these are good things. I think there’s so many listeners here saying, “Oh, my goodness. I’ve never thought about doing that!” Because it’s these little things that help. I mean, did you just hire a crew or did you just say, “Hey, buddies.” Did you call all your friends and say, “Hey, can you help me out? I’ll pay you a couple bucks.” What does that look like to make this actually happen?

Mason Mitchell: Yeah, so I have a few buddies from the high school days that I reached out to and am really close to, and we got a little group of them together. “Here’s a couple hundred bucks, and a lunch and a sandwich for everybody.” We spent a good, solid weekend that we got a ton of stuff done, then there was a few days here and there that Travis and I, maybe one other person, went and moved some stuff. But yeah, we got truck and trailer, and a couple of other trucks, and moved as much as we could. The seller, the guy, is super cool; awesome to work with.
And, side note, on this property there was also a tenet at the upstairs, living there. She was moving out, as well, which that went smooth as heck, surprisingly, and it all worked out really well. Travis actually has an interesting detail. I was out of town the last weekend–

Cody Hofhine: He’s like, “There’s more to this! Just wait!”

Mason Mitchell: Yeah. The last thing that we needed to move was the washer and dryer, and I couldn’t get it moved when we were in there the first time because it had a gas line hooked up to it and the shutoff valve was broke off. And we were like, “What the heck do we do?” I was out of town … Travis, I’ll just let you explain this one.

Travis Bennett: Oh, my God. He was out of town and the closing was coming up so it had to be done that day. I was sick that week, even. I just physically moved a washer and dryer out of the house, into the back of the truck with ice everywhere all by myself. Then put it back into another house [inaudible 00:13:23] downstairs basement. And then unhooking the gas valve, that was fun.

Cody Hofhine: Yeah! I was going to say, what did you do if there’s no shutoff? Did you have to shut off the whole main for the house, or what did that look like?

Travis Bennett: Yeah. That’s where I started, and I was thinking that, but I didn’t turn off the right valve.

Cody Hofhine: Oh, dear!

Travis Bennett: Yeah, yeah. It started spewing gas and I was like, “Oh, man,” but I could see the ball inside it, so I just held my breath and closed it, and I was like, “Okay, that wasn’t fun at all.” But here we are, and we just got it done.

Mason Mitchell: Travis called me and I about lost it.

Cody Hofhine: “Oh, man! Oh, man, we’re going to lose this house!”

Mason Mitchell: “Is it worth it?”

Travis Bennett: I was like, “What am I doing? Is this worth it?”

Cody Hofhine: Awesome. So you move these out, you think you shut off gas. Guys, just so you know, this is the first time I’ve heard this story, and I’ve heard every story, so I thought. You take apart the washer and the dryer, gas is going everywhere. You’re able to finally, I’m assuming, shut it off, or is this baby still leaking as we speak?

Travis Bennett: Yeah.

Mason Mitchell: I hope not.

Travis Bennett: No, it’s closed. I was closed.

Cody Hofhine: Awesome. Awesome. Awesome.

Travis Bennett: [crosstalk 00:14:34] just to triple-check.

Cody Hofhine: Now that that’s done, what were you able to do from there? When you got the home under contract, you helped move this gentleman’s … all of his stuff out, move him to a different place. What did you do to actual … to make money on this deal? What was your exit strategy and how did you do it?

Mason Mitchell: Yeah, so with most of the properties that we get under contract, we take pictures, put a marketing piece together. We use [inaudible 00:15:02] and we blast it out to our buyers, and basically we have an inspection period in there, as well, which is a few days later. You know how it goes. Most of the interested people come out and they’ll look at it, and then we send out another email that basically has the offer deadline.

Cody Hofhine: Uh-huh (affirmative).

Mason Mitchell: The buyers that are interested basically send an offer, and usually it’s highest and fast or somebody that I can close quick.

Cody Hofhine: Okay.

Mason Mitchell: So we get this out. A couple of days later, had people come for inspection. The seller was great to work with then.

Cody Hofhine: How many people were interested in this? When you send out … You’re marketing the contract, doing like an assignment, I’m assuming? You market the contract; how many people were like, “Yeah, I want to come take a look at this”?

Travis Bennett: This one was quite a few, actually.

Mason Mitchell: Yeah.

Travis Bennett: This was a good one.

Mason Mitchell: This one had probably … I mean, our market’s not a huge market like a [inaudible 00:15:51], but it’s a really solid market as far as how … deals and stuff like that. But there’s only a 600,000 population of Des Moines metro, so our buyer list is close to 100. We want to get some more. That might not sound like a lot, but it’s a decent amount for this market. I think this one had maybe close to a dozen people come out, or 10 or so, come out to the property and look. Probably had six or seven offers come in.
Travis handles that part of it really well with dealing with our investors and buyers.

Cody Hofhine: Uh-huh (affirmative).

Mason Mitchell: And then a few offers come in and–

Cody Hofhine: He’s like, “If he can handle the gas line, he can handle the buyers! Let’s do it!”

Mason Mitchell: Yeah. Right.
Offers came in and Travis, why don’t you tell them what we ended up [inaudible 00:16:33]?

Cody Hofhine: Yeah! What did you put under contract for and what did you end up selling it for, Travis?

Travis Bennett: We had it under contract for 96, and we sold it for 111.

Mason Mitchell: Yeah.

Travis Bennett: So $15,000–

Cody Hofhine: Let’s see. Is my math– I was going to say, “$15K?”

Travis Bennett: Yep, yep.

Cody Hofhine: Holy mercy! You gentlemen know it’s coming right now, right?

Mason Mitchell: We do. We’re waiting for it.

Cody Hofhine: Oh! Hold on!

Mason Mitchell: I’m getting goose bumps.

Cody Hofhine: Wow! The victory bell has been rung for these two! 15K on this one!

Mason Mitchell: Yep. From the first time I listened to the podcast to now, that was one of my main goals was to hear that dang bell ring.

Cody Hofhine: You’re like, “That’s going to be for me.” Now, which was better? Because I still want to help the audience understand. Was the 15K check better or was the victory bell better?

Mason Mitchell: That’s the icing on the cake, right there, the bell.

Cody Hofhine: There you go! The 15K still tastes the best, right?

Mason Mitchell: Yeah. But I also wanted to put a side note here. On our first deal, we did a straight up assignment of contract. But how we do all of our deals, we do a thing, it’s called a blind double close.

Cody Hofhine: Uh-huh (affirmative).

Mason Mitchell: There’s two HUD statements. The seller doesn’t see what you’re making and the buyers don’t care. Their investors, as well. The numbers work for them. It all works for them, but with a signing, and doing double closes, it’s less obstacles you have to face talking to a seller when they see a $15,000 …

Cody Hofhine: Sure! Sure!
So you go out there, you made this one. That means on the other three deals, because you had four closed, you’ve got another 20,000, and between the other three pending, you have another, let’s say, $35, $36,000 here in the near future. How fare out are those deals?

Travis Bennett: One’s two weeks away, or less. I think we can probably move that one forward about a week, but that one will be 20-some thousand. And then another one will probably be around 10, and the other will be around five.

Cody Hofhine: Wow. Good job, gentlemen. This is awesome, awesome stuff! Kudos to you guys. Are you doing this full-time or is this part-time in between full-time jobs that you have elsewhere?

Mason Mitchell: Yeah, we’re both full-time, 100% into it.

Cody Hofhine: 100% full-time, that’s awesome. And then kind of give it a breakdown before we end this, because I always like to hear maybe … Something I’ve asked just recently, is a lot of our listeners are wondering, to do that kind of a deal flow in a market that has maybe 600,000 in population, and in the last, let’s call it six months, you have four closed with three pendings. So seven deals. What does that look like on a marketing side? How much money are you spending in marketing to bring out enough opportunity to do this amount of deals?

Mason Mitchell: I mean, I think…

Travis Bennett: It’s like 1,000 a month, maybe less, in marketing.

Cody Hofhine: Okay.

Mason Mitchell: Yeah, our marketing cost has been really cheap, I feel like, compared to most.

Cody Hofhine: Yeah! That’s very, very good, by the way, gentlemen. That’s awesome! And where do you find where you’re putting most of your dollars?

Mason Mitchell: In bandit signs.

Cody Hofhine: Bandit signs?

Travis Bennett: [crosstalk 00:19:41] Yeah.

Cody Hofhine: Okay. And then are you placing them yourself, or do you have someone else go out there and do it?

Mason Mitchell: Yep, Travis and I go out Friday nights, maybe, and put them out.

Cody Hofhine: And put them out. Good for you guys! So marketing expenses are super low, and here you are doing about 1,000 a month to bring in … Let’s call it 6,000 out in marketing, to bring in what will be about 70K in the future.

Mason Mitchell: Yep, that’s about right.

Cody Hofhine: Sounds like a good little business you got going on there, guys. I’m proud of you guys. That’s awesome stuff. Now, to end this, we always end it the same way and you guys are probably familiar with it. We always ask two questions.

Travis Bennett: Right.

Cody Hofhine: The first one is hindsight. If you were to look back, because it’s usually a better vision looking backwards at your starting point, and we have a lot of listeners on here that are just getting involved in wholesaling, what would you have done differently if you were starting over today?

Mason Mitchell: For me, I would’ve met Travis sooner. But no.

Travis Bennett: Right.

Mason Mitchell: [crosstalk 00:20:38]. It’s all about taking action and analysis … However you say that word.

Travis Bennett: Analysis paralysis, right?

Cody Hofhine: Analysis paralysis, yes, yes.

Mason Mitchell: I was just so consumed in information and watching videos and reading books, which is great, but at some point you just got to put that side of you away and just go take action. I just remember the early, early days of being so scared to maybe cold-call somebody or to do the early steps in the course that you guys provide. And looking back, I was like, “Oh, my gosh, why was I acting like that?”
It’s just all about taking action. It’s a simple business, but it takes a ton of grit. Especially early on, because you’ll have so many obstacles to get your first deal. I feel like that’s the universe talking to you, in a way, because you’ll have so many ups and downs, and deals fall through or this and that. On our first deal we got our contract, it ended up falling through. I know there’s so many videos out there that say how easy it is, and it’s easy in a way, but you just got to have a ton of grit. Just take action and just keep pushing forward. There’s going to be so many tough days, but if we can get through it, anybody that’s listening to this can get through it.

Cody Hofhine: Love it. Travis, anything you want to add to that?

Travis Bennett: I don’t know. I think we read it on a bumper sticker somewhere. It was like, “Progress not Perfection. Fail Forward.” Something crazy like that. I don’t know.

Cody Hofhine: Good stuff! Those are not even bumper stickers. If you get that bumper credit, I’m going to come over to Des Moines myself … No, just kidding.
All right. So progress not perfection, and fail your way forward. Those are two amazing tips and we’ll talk offline after this … No, just kidding.
Those are two awesome quotes. Whoever says those daily are just rock stars, guys! Cool, cool. Now, let’s ask a book from each of you. What’s one book from each of you that you would say is game-changing? What’s helped you with your mindset, or what’s helped you progress, become someone better, that you’d recommend for our audience?

Mason Mitchell: Yeah, I mean, for me, I read this book last year before I made my big life-changing career change, and it really put my mind into the right place I feel like, and that was … she actually has two books, but the first one I read was “How to be a Bad-Ass” by Jen Sincero. The other one was, I think, something about money, but those ones, they’re really mindset related and it made me just realize the power of the universe. How to push through obstacles, but I read so many other books, too. I think Travis has a good one, as well.

Travis Bennett: Mine was just “Rich Dad, Poor Dad.” That was kind of a game-changer. I was pretty well entrenched in the whole idea. Just involved around that, so it just sort of cemented it. And then the one I read when I was younger was called, “The Millionaire Real Estate Investor Book”. I think it’s by Jay Keller.

Mason Mitchell: Yeah, yeah.

Cody Hofhine: Gary Keller.

Travis Bennett: Gary Keller. That was one that kind of sold me at the beginning. I was like, “Well, the math checks out.” I was like, “This doesn’t …” And then, “Rich Dad, Poor Dad” just kind of built on top of that. So those would be kind of equal.

Cody Hofhine: Awesome. Awesome, awesome books. Great books. I’ve read a couple of those books, and I will tell you “Rich Dad, Poor Dad” is one of the game-changers for so many people. And again, that … Is it “The Millionaire Investor”, is that what we said?

Travis Bennett: Yeah, “Millionaire Real Estate Investor.”

Cody Hofhine: Yeah, by Gary Keller. Awesome, awesome book. Such a great book. Tom had the opportunity to actually hang out with Robert Kiyosaki just last week, and it’s just game-changing to hear those different views and how to hear different mindsets, and he definitely is like one of the godfathers of real estate. So many people mention his name, and it’s just interesting to see how other people’s minds work around real estate, and it just opens up doors and windows for us that get to listen to it.
Awesome books! Well, gentlemen, this has been an amazing episode where you’ve broken down how you’re doing deals, how business is going, and I want to thank you guys for taking the time to be on the podcast, but also what an honor it is to ring that victory bell for you guys because this is awesome stuff. Seven deals in about six months, and you guys are going to have an amazing 2019. So thank you so much for sharing your story with us, today.

Mason Mitchell: Yeah, absolutely. No, thank you, Cody, and it was a pleasure to always listen to you guys’ content, to be a part of the Tribe and just how go-getting you guys are. And if anybody has questions about it, definitely join the Tribe or follow these guys on Instagram. I’m getting gold nuggets every day so we appreciate it.

Cody Hofhine: Awesome, awesome. Thank you, gentlemen. For those of you that’ve been listening [inaudible 00:25:11], you’ve just listened to to rock stars that are just out there taking imperfect action, failing their way forward, and making deals happen. But that doesn’t just fall in your lap. You’ve got to have grit, just like Mason was talking about. You’ve got to read those bumper stickers, like Travis was saying. But ultimately, get out there, fail your way forward. If you want help building your wholesale business, go over to wholesalinginc.com where you can book a call with our team, and we’d be glad to see if it’s a fit and also help you along with your wholesaling business.
Until next time, take care and God bless.

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