If you are new to wholesaling, is it advisable to burn the ship and go all in? For our guest today, it’s probably one of the best things he has ever done.
For many people, trying something new with their backs against the wall can be very stressful. However, for rockstar rhino Jens Kuetemeyer, it was the motivation he needed to succeed.
With only $13 in his bank account, Jens decided to quit his job and get into wholesaling full-time. While he encountered a lot of gut-check moments along the way, he never gave up.
Instead, he took the challenges he encountered as his cue to get creative and think outside the box. Three months in and he has already closed 3 deals and netted a total of $19,500!
If you are feeling adventurous and would like to get into wholesaling, today’s episode is exactly what you need to hear!
3 Deals In Less Than 90 Days With Jens Kuetemeyer
You’re tuning in to another episode of the show. We have a rock star Rhino that has been wholesaling for about 3 months and has already done 3 deals. For those of you that are new to the show, first and foremost, welcome to the show. I want to let you know that we will be talking about wholesaling real estate. What’s wholesaling? Wholesaling is simply the art of finding deeply discounted properties. If you can learn in your market how to find properties at a discount, you can make a lot of money.
We’ll be breaking a case study down for you, so get a pen and a piece of paper and get ready. We have Jens Kuetemeyer from Coeur d’Alene, Idaho. He’s going to be sharing a step-by-step walkthrough on how he did 1 of his 3 deals. You can learn from him and get out there after reading this episode and start taking massive imperfect action because there’s no such thing as a perfect plan, and get yourself your first deal as well. Let’s get right to it.
Jens, how are you doing?
I’m doing fantastic. How are you?
I’m good. I’m reading through our little show notes introducing who you are. Here you are in Coeur d’Alene, Idaho. There are probably a ton of readers on here. I have no idea where Coeur d’Alene is, who it is, and where this is even located, but you’ve been doing wholesaling for only three months. On average, you’re already doing a deal a month. This is pretty amazing stuff. Tell our audience a little bit about who you are, what you’re doing, and what got you into wholesaling.
My name is Jens Kuetemeyer. I’m from North Idaho, Post Falls. It’s right next to Coeur d’Alene. We have a population of 150,000 in the county. I got into wholesaling from a YouTube video. I was working as a glazer at that time. I was like, “I can’t do this Corporate America job.” I was watching different YouTube videos on wholesaling. I was like, “What is this? Is this real?” I then came across Spotify. They have the podcast for Wholesaling Inc. I listened to episodes 1, 2, 3, 40, 50, 100, and 150. Once I got to 50, I got on a call. I was like, “I got to do this.” With $13 in my bank account, I was talking to Skylar, and I said, “I got to jump in and do this.” He was like, “You got to commit to fifteen hours a week.” I said, “I’m going to quit my job then.”
You’re saying something that’s incredible. I want to take a second because this is crucial stuff. Not only did you have $13 to your account, but you were also ready to burn the ships and jump into this full board right out of the gate. I have to know this for myself, not just the audience. I want to learn from you for a second. What gave you the conviction or the faith where you were like, “I’m going to do this. If I’m going to do this, I’m going to do it while having not much money, but also quit my job.” Tell me a little bit more about this. This is very interesting to me.
On the show, there are regular, everyday people. Even tuning in to the show, no matter where the background of these people, some people are working part-time, starting wholesaling, and have success. Some people are doing full-time, do wholesaling on the side, and they have success. I was more interested in the ones who quit their job and their success exploded very shortly after because they were committing all their time to wholesaling. I was like, “If these people can do it, it doesn’t matter the region or how many people are in your territory, you can do it. It’s a very simple process.” I hear a lot from you guys, “Wholesaling is easy. Wholesalers are hard or difficult.”
How true is that?
That’s so true. Do what they tell you to do. I decided to jump in and I was like, “We’ll pull out a loan for this so that we can get at least 2 or 3 months’ worth of living before, hopefully, we get a deal going so that we can continue on.” That’s what we did, me, my wife, and my baby girl.
You are incredible. Here’s the thing that I love. You went all in. I’m not saying this resonates with everyone because there are people that are like, “I want to make sure I do this and also do it as safe as I can.” I get that. To each your own, but I resonate with you. This is why I’m so interested in this because this is exactly what I did.
I remember when I was on the phone call with Tom. I was going to join the Tribe. This was in May of 2015. He was like, “Here’s the cost of the program. Also, you’re going to want to spend a minimum of $1,000 a month on marketing. Do you have that?” I’m like, “Yeah,” and I’m looking at my wife like, “Where the crap are we going to find this money?” I did the same thing. I put it on a credit card. I find this out from a lot of people. They’re like, “I lied to you too. I didn’t have money.”
Here’s the thing. You went all in. I feel like I perform better when my back is against the wall. I’m like, “I can’t afford to let this fail. I have to make this work because I’m all in. I burned the boats. Let’s rock and roll. Let’s do this.” That may or may not connect with everyone, and I’m okay with that. What you’re saying is almost identical. Yours is probably even better than my story because you were like, “Screw it. I’m going in. Let’s learn it. I’m not glazing anymore. I’m not doing anything. Let’s roll.” You’re married and have a little baby girl. How old’s your baby?
She’s nine months old this 2019.
Wholesaling is simply the art of finding deeply discounted properties.
Here is where you are incredibly confident, which is an amazing value to have. You even had a baby that had to be fed and buy diapers for. It was the cost of life and you were like, “I can do this. If these guys can do it, I can do it.” That message is so powerful to our audience. Keep going. You got into wholesaling. How was it out of the gate? Was it something that was unicorns and rainbow? Was it hard, trying, or challenging? Tell us a little bit about wholesaling as you got into it.
It was a challenge at first. On the first Monday of quitting the job, it was like, “I have all this time.” The gut-check moments started to kick in. My excitement was trumping that moment because I was like, “We can do this. We got this.” I hit the modules hard. I didn’t have any hiccups. Everything was going well. When you said to do something, I did it. It wasn’t easy because I had no clue. I was faking it to a lot of investors when I was building cash buyers. I had no idea what I was telling them. I was like, “I’m going to find you deals.”
Like what you were saying with the money thing, we didn’t have a credit card. We pulled out a loan. I got to the marketing part. I hit a train dead in my tracks because I was like, “I don’t have money to spend on direct mail.” I believe it works, but I had to alter my direction because I was like, “I don’t have even $1 that I don’t own to spend on that.” There were a lot of gut-check moments.
That’s so powerful, though. Instead of shrinking, bailing, and jumping out saying, “No more. I’m going back to glazing,” you found a way. There was a shift you had to make. You were like, “Here’s this, but this isn’t going to work for me right this second. I’ve got to get creative. I got to start thinking outside the box,” and you did that. Instead of direct mail, what was your channel for marketing right out of the gates?
I’ve been tuning in to all the episodes and pretty much watching every YouTube video you put out because Tom Kroll’s advice was to only do the instruction that the show provides.
I say this to everyone reading. The main thing is there are so many ways to do it that your safest bet is always to keep it vanilla. Listen to one voice until you get consistent. Whether it’s us or anyone else, that’s okay. Listen to one voice at a time so you don’t get so messed up and get into the analysis paralysis, which kills most entrepreneurs. Those are awesome stuff. You kept it very vanilla. Keep going.
I gravitated towards Brent Daniels because he’s like, “You can reduce your marketing budget by cold calling.” I was like, “Cold calling? Isn’t that what call centers do?” Apparently, you can cold call in this business, which I learned through the show. I was like, “I’m going to do what Brent Daniels says and drive for dollars.” It’s the cheapest way.
I use the DealMachine app, which is awesome. On the DealMachine app, you pretty much can click on any property and the owner’s information pops up. You save and skip trace the phone numbers. I use Batch Skip Tracing and pretty much call them up and ask if they’d consider an offer on their property. I had to go from direct mail, which I would have done originally but I did poor budgeting and transferred over to cold calling and driving for dollars list. It was the cheapest route for me that I could do within my budget because that’s all I could do.
It was great for you, too, right out of the gate. Since you burned all the boats and the ships, you had time to hone in and create your own leads versus direct mail having to create those for you. A lot of people are working a side job, so not only did it help because of your budget, but you also had time to throw at it, which is clever.
Let’s do this. Let’s rock and roll and go right to this third deal. Let’s start helping our audience understand step-by-step what it was that you did to get this lead and how you got it to where you’re going to close. We’ll then talk about the number at the end, but tell us what it looked like when you were cold calling this third deal that we’re going to be talking about.
I use DealMachine pretty much to filter all my leads through. Randomly, I was looking at the pre-foreclosures on Zillow. They have an option to not look at foreclose but the pre-foreclosures. There’s a little sub-category that says Potential Listing. I was like, “I’m going to throw the potential listings into my DealMachine app so that when I export the list, I can call those people as well.”
What I did was I went through my list. I’m at this potential listing on Zillow. I was calling and I got to this gal. I didn’t know it was a gal at that time because I reached her voicemail and left a message. She didn’t pick up. What I do is after every cold call, if they tell me their name in their voicemail, I’ll send a follow-up text right after I get off the phone that pretty much says what I say in the voicemail, like, “If they would consider an offer on their property at 123 Main Street.”
She texted me right back, which was strange. I was like, “I’ll text you if that’s what works.” We’re sitting at a softball game and I’m texting her. At the end of the day, I was texting her again. She was corresponding and she was like, “I want it for $260,000.” I was like, “I’ll give you $180,000 to $210,000.” I usually don’t give out numbers over texts because I didn’t feel like she was motivated at first. She was like, “I don’t know. I might be able to go down a little bit, but we’ll see.” She hasn’t even given me the reason why she would consider selling, so I was like, “Let’s set up an appointment.” I didn’t know her name.
What’s tricky about this is this is all done by texts. It’s not only tricky to find motivation. It is tricky to find motivation when you’re on the phone, let alone on text. On text, you can’t have any feelings. You can’t read any emotion. You don’t know when they send you a text whether they were saying that with a smile or a frown. If they’re saying that with a smile, that’s a good thing, but if they’re saying that with a frown, that’s a bad thing. This is tricky. You’re text messaging all this stuff with this individual and not talking on the phone. Keep going.
We set up a time to meet at her property.
By texting, right? You’re still not on the phone.
Yeah. I failed to get a name, and I don’t know why I didn’t even ask what her name was. When I go to the door, I’m like, “I don’t even know if this is a guy or a girl. I don’t know who this is.” A gal answers the door and I’m like, “I’m looking for someone who’s looking to sell their house potentially.” She goes, “That’s me.”
How did you get this one going?
I had to apologize and say, “I realized I failed to ask your name.” She was like, “I’m Stephanie.” I was like, “It’s nice to meet you. I’m Jens. I was the one that was texting you earlier this week.” That’s how we got to the meeting.
You’re here at the meeting. You’re at the house. You’ve talked to her. What did you do from there? Did you sit down and get to know her and her story, or did you go right to looking at the house? What did that look like?
The first thing I noticed was the pictures that she had of her son. Her living room floor was pretty much covered in her son’s baseball, basketball, and football gear. That was easy for me to relate to because we went to the same high school. I still knew the coaches there, so I was like, “Does your son play sports?” We weren’t even talking about the house when I first met her. We were connecting on more of a relational side because I wanted her to know that I’m a real person, especially after the texting.
You focused more on rapport building versus worrying about the deal. Take note, Rhino Nation. When you go on appointments, do exactly as Jens is saying, and that is build rapport. Take time. Slow down. Talk about things that you can build something in common. I love this. Keep going.
Slowing down is what helped in this case because she didn’t do well with getting into rushing, I could tell. We talked. We probably spent 45 minutes to 1 hour. About 30 minutes of that, we were talking and getting to know one another. I then come to find out something, and she’s the one that tells me this information, which is great. Get the seller to talk. You don’t want to do the talking. Let them talk about their situation and their story. She was like, “They’re foreclosing on the house.” I was like, “There’s motivation.” She’s like, “I’m going to lose it. My son and I are going to move to my parents or we’re going to have to move to Missoula,” but she didn’t want to do that because of sports for her son. I was like, “Okay.”
In the last ten minutes, we talked. I didn’t get it under contract at the first meeting because I’m terrible with running numbers. I wanted to get it as low as possible, so I was like, “What’s your bottom line?” She told me it was $260,000. I knew that that was an okay price, but I wanted it to be at $240,000. I was like, “Let me give you a call on Thursday.” It was two days after. She was busy with her son. In her schedule, she had about 30 minutes to talk a day to someone like me, but she was in a desperate situation where that time was worth it for her because she didn’t know where else to turn. She didn’t want to turn to realtors.
There are so many ways to do wholesaling that your safest bet is always to keep it vanilla. Listen to one voice until you get consistent.
What was the timing on that? That’s a question I want to know. They say they’re going to foreclose. Was this coming within weeks or months? What did that look like?
It’s going to be on July 13th, 2019 when it’s going to be put on for an auction. It’s before pre-foreclosure. This is why it’s interesting. She’s been served a notice of default, but she’s not in foreclosure. They haven’t said an auction date yet.
She knew the time was ticking and wanted to sell it quicker. By selling it to you, an investor, even at a discount, would help her with the speed and convenience versus who knows how long it could take with a real estate agent?
She was pushing for a quicker sale.
What did it look like when you called her back?
That was a whirlwind. I got to thank a book, which I’ll mention at the end. It will be the book I recommend. We were on the phone call. Due to this book, I said, “Steph, I had to anchor a little low.” I wasn’t exactly sure how far this point she was going to be foreclosed on. I was like, “What if I could only give you $220,000? That probably doesn’t work.” She’s like, “No. What about $230,000?”
When she said $230,000, I was like, “That is $10,000 below what I know I could turn this around for.” I tried one more time to see if I could move it. I was like, “What if I could give you $225,000?” A lot of emotions were going on. She was at a rough point in her. She was like, “No. My house is worth $260,000.” It reverted back to like, “I can’t. There’s no way I can even go down to $230,000,” even after she had said that. I was like, “Maybe I struck a bad cord.”
I slowed it down and went back to her situation. I moved away from the numbers because I could tell that was stressing her out. Even though we had to get to that at one point, we needed to move away from it because she was starting to get a little defensive. I was like, “Let’s move her away.” Finally, after a good ten minutes, I was like, “We can do $230,000. If I got a contract ready, would you sign it?” She was like, “Give me until tomorrow. I’ll have an answer for you.”
The next day came around. I called her at 6:30 when she got that 30-minute time span. I said, “What do you think?” She goes, “Send it over?” I didn’t want to celebrate, but I was like, “We will do it for you. We will make sure this gets done.” I wanted to put some cash in her pocket and also secure this deal for her and for me as well.
You get to hold her at contract at $230,000. Did you then push this out to your cash buyers? What did that look like?
Since the bank account was running low at this point, I didn’t have the first two deals under contract yet. This one was a little bit over the course of a month. The other two deals happened within less than two weeks apiece. One was only within a matter of three days, so this one was a little bit longer. I was stressed, and it was showing because I was like, “I need to get a cash buyer.”
With this particular deal, I knew someone, a very close friend of mine. He’s a realtor but also a cash buyer. I said, “I was trying to get comps for this house. I have no idea what this house is worth. If I got it under contract, what would an investor buy it for?” He goes, “$240,000 to $250,000.” I was like, “Are you serious?” He’s like, “Yeah. I’d be interested in buying it.” I was like, “I got it under contract. Would you be interested in seeing it?” I didn’t do it to market to get the highest and best, but it ended up being my highest deal anyways.
Was it that realtor?
Yeah. He’s the one that bought it.
You got under contract at $230,000. What did you sell the contract to him for?
$242,500 minus out the $230,000, if my math is correct, $12,500 is what you made on this one deal. Is that correct?
You are correct, Cody.
I might have failed to mention this at the beginning. I said that you had already done two deals. The two deals that he’s already done have brought in $7,000, and then this third deal was $12,500. To give a perspective so that people can understand what this looks like. Know it’s not easy in the sense of it tries you and tests you. There are blood, sweat, and tears throughout this whole entire thing. I can attest to this. Jens can attest to this. If you had to pin a number of hours on this last deal, from the first time you spoke to them to the time you were at the house to closing, how many hours did you spend on this one deal?
Including drive time, probably about six hours.
This is something that I want to bring up, not because it’s a get rich quick. It’s not an easy thing. I don’t want to share this in the wrong spirit either to those tuning in to the show, but I do want you to know that if you are willing to get out there, take massive imperfect action because there’s no such thing as a perfect plan. You’re willing to do exactly what Jens said, and that is getting out there, do it. He wasn’t an expert. He was far from it. In fact, maybe I should have you say that. Were you an expert at any of this?
Absolutely not. I had no idea about anything in real estate or wholesaling when I first started.
That is what’s awesome about this. This is what should give each one of you tuning in. There is so much hope and faith that you can do it too. Jens can turn it from faith to fact. He knows this works, and because of that, he’ll have even more confidence. Moving forward, he’ll do it with even more massive imperfect action. Even to this day, he’s still not perfect at wholesaling, and that’s okay. Neither am I. We learn something new each and every day.
You never want to be the person that says, “I know everything. I’ve learned it all.” Never become that person. Always be a student of life and always get better at your trade. As you do these things, you can have six hours of work pay you $12,500. That could be your deal as well. What an incredible story. Altogether, you’re just shy of $20,000 in three months. Tom and I want to thank you for taking the time to share this incredible story with our audience.
Find people in the destination you want to be at and surround yourself with those individuals. As you learn and gain their principles, the likelihood of you turning into one of them becomes a reality.
Thank you so much for having me on. It’s an honor for you guys to take the time to spend with your students to hear their stories.
Before I let you go, you know what’s going on. I already know the book. It’s one of my favorite books as well with sales. I always ask two questions, so for those of you reading, get out a piece of paper and a pen. Don’t put it away yet. He’s going to share two gold nuggets. First and foremost, what is a book that’s been game-changing? You semi-mentioned it, and I know exactly where you’re going. I love this book. What is the book that has game-changed you that you would share with our audience?
For new wholesalers who struggle with negotiating for the price that you aim for or that max allowable offer, the one that’s changed for this third deal, especially because the first two I hadn’t read it yet, is Never Split the Difference by Chris Voss.
That’s an amazing book. Chris Voss worked for the government. Was it the CIA?
It was the FBI.
He was the one that was the negotiator in hostage situations. It was incredible. It’s a great book. The second question that our audience would benefit from, including me, is looking back and you’re able to see things differently, what would you tell those that are maybe thinking about getting into wholesaling or at the beginning stages of wholesaling? Knowing what you know, what would you have done differently, or what would you have done the same because it worked so well?
Mirror someone, especially someone where you want to be. Mirror what they do. If you’re a first-time wholesaler looking for your first deal, find someone who’s done their first deal. There are so many strategies out there but choose one. Be laser-focused. Stay on that one method, whether it’s cold calling, direct mail, or PPC. Whatever it is, find one that you believe that you can do and mirror someone who’s done that. Mirror Cody if you want to do direct mail or Brent Daniels. Mirror that person to get to know everything about what they do and implement it. I would say that goes along with it, but I wish I would have sped up my speed of implementation.
I can’t agree with you more about the speed of implementation. There are so many times we want to do something, and then we put it off or we end up not doing it. This is one of the most powerful principles of the successful people I know in my life. They know how to make a decision and act. What is it that has been for you at that speed of implementation?
We know Brent Daniels. We know he has done tons of deals. You and Tom has done tons of deals. I’m like, “Brent’s done it through driving around, getting addresses, calling the owners, and asking if they want an offer. Instead of listening to all those things, I’ll implement it fast.” Get out of your car. Go to the distressed homes. Call the homes. Call the homeowners. Ask them if they want an offer on their property.
Do exactly what the people at the next level do. Mirror what they do. It’s true for whatever level you’re at. If you want to get to that next level or if you want to do your first deal, mirror someone who’s done it, not someone who hasn’t done their first deal and knows all the education behind it. The keywords are done, action, and implement.
That’s so crucial. Rhino Nation, write that down. That goes hand-in-hand with one of our favorite quotes. It’s the one that’s done by Jim Rohn, which happened to be born and raised in Idaho. He is a rock star and legend for motivation, self-development, and personal development. He has a quote that says, “You are the average of the five closest individuals you spend the most time with.” To fully understand that quote, it’s finding people that are at the destination that you want to be at. Surround yourself with those individuals. You’ll see that they live principles and that they have capabilities that you may not be living or may not have, but as you learn those principles and gain those capabilities, the likelihood of you becoming them becomes a reality. That’s a powerful principle.
This has been taught by Jim Rohn, Darren Hardy, Tony Robbins, and all of the greats out there. It’s an amazing quote and a powerful principle on how you get to the next level. I love that stuff. Jens, thank you so much for being on our show. I appreciate you taking the time. I know you’re going to be busy getting back out there driving for dollars. Maybe now you have a budget for some direct mail to do some listing for you.
Thank you, Cody, and thank you, Tribe, for all your support. Also, thank you to Skylar, the man, the myth, and the awesome empower of the forum. Tom Kroll and Brent Daniels, thank you to all of you guys for carrying me on this journey and thank you to my beautiful wife and my beautiful daughter.
You couldn’t do it without them. I’m glad you threw them in the mix. That’s perfect. Rhino Nation, this has been an incredible episode where Jens has broken down step-by-step how he did a deal where he made $12,500. If this is something that you are interested in, head on over to www.WholesalingInc.com. Go browse around the website, but book a call. See if it’s something that sounds like a fit. If it’s something that sounds great, move forward. We’d be honored to help you build your wholesaling business so you can get on your way to doing your first wholesale deal. Until next time, get out there and take massive imperfect action. We’ll see you in the next episode. Take care.
- Batch Skip Tracing
- Never Split the Difference
- Be Sure to Join the Wholesaling Inc Facebook Group
About Cody Hofhine
Cody Hofhine, a multiple Inc 5000 Business Owner. Co Founder of Wholesaling Inc. the #1 Real Estate coaching program across the nation. Co Founder of Joe Homebuyer the leading Real Estate Franchise. A successful Real Estate investor/mentor and sought after Speaker.
Cody has coached over 3 thousand students on how to successfully Build their Real Estate Business through his real estate training as well as help individuals perform at their highest levels with his one-on-one mentoring.
Cody used his background in sales to quickly build multiple 7 and 8 figure Real Estate Businesses that all start on the foundation of clarity or Vision and Purpose.
Cody loves being with his family and doing crazy tricks behind a boat.