Posted on: July 25, 2019

Do you have a job that’s comfortable, secure, and well-paying but not making you happy at all? If you answered yes, then you have something in common with today’s guest.

Jahmai Nicome is a rockstar rhino from Baltimore, Maryland. While he earns a decent living working as an accountant, he eventually realised it’s not making him happy. Through an entrepreneurship class, he discovered Robert Kiyosaki’s Rich Dad Poor Dad and had a complete change of mindset.

Fast forward many months after and he was able to listen to Tom Krol on Bigger Pockets. From there, he decided to just go for it, take massive imperfect actions, and followed Tom’s step-by-step instructions. And the rest they say is history.

Today, Jahmai is totally crushing the wholesaling market, doing something that makes him happy while getting massive returns at the same time. If you are considering quitting that 9 – 5 job that’s not making you happy but don’t know what to get into, today’s episode would be perfect for you!

Key Takeaways

  • His first cold calling deal
  • The negotiation tactic he employed
  • How much he earned from the deal
  • What to do when you’re starting out and don’t have a buyer’s base yet
  • What his buyer base is like at the moment
  • Number of buyers he currently has on his list
  • How a driving for dollars deal went for him
  • How he built rapport with the seller
  • How much he earned from the transaction
  • What to do when you’re having trouble selling properties
  • List he’s calling right now and how he found it
  • What his virtual assistant does on a weekly basis
  • How to effectively cut the learning curve for virtual assistants
  • How people can get in touch with him

RESOURCES:

If you are Ready to Explode Your Wholesaling Business, Click here to Book a Free Strategy Session with me right now!

Subscribe to Wholesaling Inc

Episode Transcription

Brent Daniels: We are back. This is Brent Daniels, and welcome back to the Wholesaling Inc. podcast, the world’s number one podcast when it comes to wholesaling real estate. Every week, tom Krol, Cody Hofhine, and myself work to bring you the absolute best in interviews and thoughts so that you can accomplish one goal, and that is to have the instruction that you need to go out and source the absolute best real estate opportunities in the marketplace, which leads me to our guest today. This guy has had some phenomenal, really, really challenging times when he started the business. He left a very secure job to go after his real estate ambitions. I’ll let him tell you all about it because it is just a fantastic story. You’re going to be so inspired by this story and you’re going to understand that once you get going in this business, you can change your financial future. From Baltimore, Maryland, it is Jamiah Nicolms. Say hello, Jamiah.

Jamiah: What’s going on Brent? TTP, baby. Let’s do it.

Brent Daniels: TTP, I love it. So Jamiah, I introduced you, and this is something that you had posted to the TTP group, and you were going through a lot of different things at the time, but you had essentially a very, very, very comfortable financial position with a very secure job. Is that right? Can you tell us about that?

Jamiah: Yeah, absolutely. So yeah, just a quick background on my story. I did everything that everyone tells you to do, is go to school, get a good job and get a nice career, and ultimately attain the American dream. So I went to college, graduated, studied accounting … quick backdrop on that. I literally researched the 10 highest paying jobs and accounting popped up, so I was like, “Hey. Least amount of school, let’s do it.”

Brent Daniels: Yeah, yeah.

Jamiah: So yeah, I went with it, graduated, got a nice, great government paying job. It was great salary, started off in the 50s, but in the government it’s basically an incremental promotion each year. You get a $10,000 pay raise. It’s pretty much guaranteed. You really have to really be … I don’t want to curse on here, but you really got to mess up to not get the promotion.

Brent Daniels: Sure, sure.

Jamiah: So yeah, fast forward a few years, and I slowly realized I really hated it. So I was trying to figure out my exit strategy within the first two to three years. I’m like, “This is not for me. I got to find something else.”

Brent Daniels: Got it. So it was just crushing you. So you were in the job three years. I mean, how far into this job? Because there’s a lot of people listening to this that maybe have a full time job or they’ve had a career for years and years and years. How far into this … you graduate, you get this job, you’re excited, you’re like, “Okay, my life’s on the right path.” How far into it were you like, “Oh no, this … Yeah, I get it. I’m comfortable and I’m secure, but I’m not happy.”

Jamiah: Yeah, so I guess just to give you a timeline, so I graduated college in 2012. When I first got out, it was a little bit rough. I didn’t get the government job right away. I had to work my way up, so to speak, and get some actual experience. So I worked at a small accounting firm for two years. It was cool. It wasn’t really stressful, per se, but then after I got the experience for two years, I got the government job in 2014. So from 2014 to 2017, I was at a nice job increasing my grades every year. Started off as a GS9, what they call it, making about 57,000, and then I got promoted all the way to GS12. I was making I think 87 when I left. So I transferred. So I was like, “Yeah man, this job is brutal. I’m working 6:00 AM to 2:30 PM.” It was tough. So I said, “Maybe let me just try another agency, maybe something else might have a different experience,” and I moved from Baltimore all the way down to Arlington, Virginia. So the commute was treacherous, to say the least.

Brent Daniels: I bet.

Jamiah: So yeah, I did that from 2017 to 2019, and at that point I’m like, “Yeah, this is definitely not the way to go.” So yeah, basically I ended up just leaving in April, 2018.

Brent Daniels: Wow. So over a year, and what did you do to … had real estate always been kind of in your mind? I mean, why not do some other business, or drop shipping, or Bitcoin, all these other things that people are kind of … you know what I mean? Why real estate?

Jamiah: [inaudible 00:06:04]. The reason why I gravitated towards real estate was because in college, I actually took this class called entrepreneurial something. It was an entrepreneurship class, and the professor was amazing, very independent study and the first book she gave us to read was called Rich Dad, Poor Dad, and that completely changed my mindset, oh my God, about having a job and paying yourself first, and real estate was the key, but I was so … I don’t want to say I was so young, but I guess my mindset wasn’t there for me to really fully dive in and commit, just trying to figure out real estate, per se, is so big. There’s so much different needs. So fast forward, I seen this guy on … I think I used to browse Worldstar Hip Hop back in the day, and this guy named Mark Whitten, he’s a local Baltimore wholesaling guy, and he had an infomercial on there. “Hey, you want to make money in real estate with no money down?” And again, my mindset was so closed, scarcity. I just couldn’t grasp the concept, like “Is this guy really true, or is he trying to pitch me something?”

Brent Daniels: Right, right.

Jamiah: Again, fast forward a few years later. I ended up listening to Bigger Pockets podcast, and the guy Tom Krol, the legend, gave you step by step instructions on how to get started, and from there I just took off and kept it going.

Brent Daniels: I love it. I love it. Yeah, I had originally heard Tom Krol’s interview with his brother Todd Toe back when he was doing his 90 days to greatness, where literally Tom was broke and his brother pulled him on video on YouTube and on his podcast and was like, “You got 90 days left of money. This is go time,” and it was the best step-by-step, do exactly this instruction that I had heard and I was like, “Oh my gosh, this is so incredible,” and now we fast forward and now I’m a part of the … obviously a host on the show. I have you, I get to interview amazing people. I mean it’s just incredible. This business is absolutely incredible, especially once you start going, because you start … when you did your first deal, it wasn’t life changing, right? It wasn’t like you were retiring to greener pastures and going to sit on a beach somewhere. So talk to us about .. you listened to this interview with Tom Krol and then what happens?

Jamiah: Yeah. So once I got off the interview, he gave us step by step instructions. I went directly to List Source, I pulled an absentee owners list. I didn’t really filter it out in the best way, but I just took massive imperfect action and I just went for it, and I actually mailed postcards the first time around. Long story short, didn’t really get a solid response. I probably got like five, a handful of calls, but never really amounted to nothing, but it gave me the experience and confidence to talk to people and I actually went out on an appointment, but fast forward. I ended up using that same list, and once I got into Wholesaling Inc. and the podcast, I got into your episodes and you were talking about cold calling. I’m like, “Okay, let me just look at this list and cold call it.” So I ended up doing that and lo and behold, I found an elderly guy. He had already a duplex unit in Baltimore, two units, and he wanted to get rid of it.
It was just aging. So that’s when I went out there, went on an appointment and yeah, man, he showed me the house. It was actually in pretty good condition. He had new furnaces, new water heaters, and it really didn’t need any work, but he just wanted to really get rid of it. It seemed like the tenants were not the nicest people, and on top of that, he was really getting elderly, so he really just wanted to get rid of it. So I got in there, locked it up at 60,000, didn’t really know what I was doing, but I did have a little negotiation tactic. So I scheduled an inspection with my brother who was an HVAC tech, and he came in with me the following week and we took a look at our inspection, and I ended up getting a price reduction for 55, but at that time I didn’t have no buyers. So I actually reached out to … I believe she was a guest on one of your podcasts. She’s a local girl, I believe her name was Nana.

Brent Daniels: Yeah. Oh yeah.

Jamiah: Yeah. So I reached out to her. She brought the buyer in. I think we made like $8,000 on that first deal.

Brent Daniels: Nice. I love it. I love it, and that’s good. I mean I always encourage when you’re starting out and you don’t have that buyer base, then you don’t know if it’s a true deal or not a deal, and how big of a deal it is, and because of that, I always encourage you to reach out to somebody that has the experience, that at least is going to give you the peace of mind to know, “Yes, you’ve got something good here, and I’ve got the perfect buyer for it,” or, “We’ll partner and I’ll blast it out.” Make something on it just so that you understand the whole process and closing it and getting through it and actually getting your first checks, but also keep building up that buyer base.

Jamiah: Absolutely. Absolutely, because at the end of the day, wholesaling is so niche. I’m grateful to even find the Wholesaling Inc. group on Facebook, the podcast, just having this community, because like you said, when you’re first starting, you don’t really know what the deal is. So she was definitely a great deal of help to really come in, nurture the situation, and really get this thing to close and I’m forever grateful for her.

Brent Daniels: That is awesome. So what do you do … how is your buyer base now? Because we’re going to be talking about some of these deals you’re doing now. So how is it now? Are you still partnering with people? Are you still building it? Talk to us.

Jamiah: So yeah, my buyer base is pretty strong. I actually took your advice, which is to find a local wholesaler in your community or in your market and trade lists up. So right now I’m at I think 1300 buyers.

Brent Daniels: Nice.

Jamiah: It’s a mix of agents, as well. So I definitely have I think a pretty consistent buyers list.

Brent Daniels: So what Jamiah is talking about is you build up your cash buyer database to maybe 200, 300, 400 people, whether that’s getting agents off of Zillow that are doing flips, or driving around and seeing people that … or you see a dumpster in the front of the house, obviously there’s a renovation. You go in and talk to them, you talk to builders, you talk to … you go down to the foreclosure auctions and you talk to those buyers. I mean, you build your cash buyer database to 100, 200, 300, and then you find somebody that has a similar size and you trade with them and then keep trading up, trading up, trading up, and then all of a sudden you have 1,000, 2,000, 5,000, and you’re rocking and rolling, because the more robust and healthy and fresh your cash buyer database is, the more you’re going to make.
It’s an absolute fact. The more you’re going to make. Don’t be … as Tom Krol would say, a CBE, a cash buyer employee. Don’t just sell it to the same person over and over and over and over again. Trust me, I did that for like a year and a half, and I was making like 12,000 per deal, and now we’re at 27,000 per deal. So it’s a big difference. It’s a big, big, big difference. So let’s talk about … you had just posted to the TTP private Facebook page, a nice healthy check. You’re getting close. The funds in your account were whittling down, I mean you were throwing everything that you had at this wholesaling business and then finally, push, push, push. You finally broke through. Let’s talk about that.

Jamiah: Oh man. So yeah, that check was actually from driving for dollars. So of course they always say that that’s the biggest sales, but at the time I didn’t know. I was just following instructions. I’m just going to drive for dollars, look for the worst houses on the block, which I did, and this one happened to be a fire damaged property.

Brent Daniels: Love it.

Jamiah: I went home. I wrote it down. I didn’t even have the Deal Machine app yet. I wrote it down, went to backskiptracing.com, got the phone numbers, and I called them. I think I called them on a Sunday, and I got them and we just had a great conversation. He told me that he had the home for 35 years. He raised his kids in it, everyone was grown now, and he actually already had the insurance money already. So if he was to sell it, he was great with it. I was like, “Okay, great.” So fast forward, we were able to set up an appointment. I go out there and oh my God. I mean it looked bad from the outside, but on the inside everything was just charred still.

Brent Daniels: Yeah, sure.

Jamiah: All the soot. It was ridiculous.

Brent Daniels: Now is this a brick home? Is this a wood-frame home? What type of home is this?

Jamiah: It’s a brick home, but I believe the beams and the studs still had wood built, but yeah, everything needed to be replaced, definitely. So we walked through it and we look into one of his closets and he actually pulls out that board game that Robert Kiyosaki made.

Brent Daniels: Yeah, the Cash Flow.

Jamiah: Cash Flow, yeah. Yeah, he pulled it out. He was like, “Yeah man, this is the most valuable thing I have in this house.” I’m like, “Really?” So yeah, we actually got … built a report, again, talking about real estate. So I’m like, “Okay, yeah. That’s pretty much what I do. I go out and find properties for other buyers.” So again, I was completely transparent with him and built rapport, and long story short, we ended up agreeing for 35,000. At that time, though, my buyer’s list … I sent it out at 59. I was thinking maybe I should get something, and nobody responded. So obviously, I didn’t give up. I just continued to rhino on and charge forward, and what I did was … it’s a hot investor area, so I looked at all the new flips and see who owns them, and I pulled 10 LLCs, somehow was able to Google, skip trace, and find numbers, and I had set up an open house, and out of 10 people, 6 came and we got an offer for like 60,000. So of course I just jumped on it and moved forward with it and we were good to go.

Brent Daniels: Now did you … so let’s pull this back just a little bit for people that aren’t familiar. So if a property is owned by an LLC, typically what you have to do is you have to Google it and you have to try to find the managing member, or somebody that’s the owner of that property. Typically it is on your local or your state corporation commission website, and what’s pretty awesome is when you start a business, you have to record your articles of organization. You have to record some other things, just depending on which state you’re in, and so it’ll have the information, and sometimes the address for the owners of that LLC, which is great, because then you go in, you put it into backskiptracing.com, use TTP as a discount code. Don’t forget that, but you get the information, and then you called them? Is that right?

Jamiah: Oh yeah, absolutely. I called all the buyers.

Brent Daniels: What’d you tell them?

Jamiah: I was like, “Hey, I just picked up this smoking hot deal. It’s right in your niche. I see you just renovated a single family home. This one is a similar square footage. It looks like something that you can definitely flip,” and he was open to it.

Brent Daniels: And you got 6 our of 10 there.

Jamiah: Yeah, so I actually set up the open house based on his timeframe. He said he could do it Monday at 3. All the buyers, I told them, “Hey, open house is Monday at 3.” It was kind of a weird time, but that’s how committed they were, because they ended up coming out during a weekday in the middle of the day and –

Brent Daniels: It’s beautiful.

Jamiah: We got a lot of interest, so it definitely worked out that way.

Brent Daniels: Well, and I love that you didn’t just send it out and hope and pray that somebody bought it, and somebody didn’t buy it, and then you took it to the next step, which is pickup the phone, call the people around that area that are doing flips, that know that area, that like that area, that probably live around that area. All of these things are really, really important, but you’ve got to take that extra step. Don’t let just getting no response from an email blast or a text blast or something stop you from reaching out to the specific buyers in that area, because they might’ve even gotten that email blast. They might’ve even gotten, but they just didn’t open it at the time, or they were doing something, or they get a ton of emails all the time. I’m telling you, in this market right now, if you’re having trouble selling your properties, you’ve got to pick up the phone and you’ve got to call them. Not even texts anymore. People are getting too many mass texts now. People are getting voicemails now. You’ve got to pick up the phone. You’ve got to call them and get them on the phone. It is so powerful. I love that you said that. I love that you mentioned that, because that’s something that I did want to talk about on this podcast. That’s huge.

Jamiah: Yep. Man, it is huge, because at the end of the day, that’s what this business is about, talking to people.

Brent Daniels: Talking to people, yep.

Jamiah: You’ve just got to have a proactive mindset, and if any sort of adversity comes your way, you’ve really got to figure it out and just get on the phone and make things happen.

Brent Daniels: And you sold it for 60, and another interesting thing is when you’re going after these properties that are fire damaged, most of the time they’ve already got their insurance check. They’ve already moved on with the thing. This is kind of like bonus money. They want to get something out of the lot, obviously, but it’s more like they’re kind of selling land than they’re selling the property.

Jamiah: Right.

Brent Daniels: And it just depends. It just depends on how bad the fire damage is, but these people, at that point, are typically unemotional about it. They’ll have a price, they’ll give it to you, and usually it makes sense because they’ve already gotten a big check from the insurance company. They paid off their debts, they’ve got money, they just want to pay this off. They just want to get this off their plates so that they can move on with their life, like it happened to you.

Jamiah: Yeah, absolutely.

Brent Daniels: And what did you net on this?

Jamiah: So yeah, after closing … cause I did a double close, but I think we came out to 21,890.

Brent Daniels: Yeah, 21 thousand … hold on a second.

Jamiah: Woo, let’s do it.

Brent Daniels: I love it. I love it. So here’s the deal. You were talking about the first ones, you were kind of splitting 8,000. you had told me before we got on the podcast that you did one that was like a thousand, and then you’re pushing and you’re straining and you’re trying to get those big checks, and once you get something that’s over $20,000, now things are like, “Okay, now I’ve got some breathing room. Now I’m building it up. Now I’ve got some reserves.” Now you’re feeling … and then, I think, in my opinion, people like you that are just growing their business, keeping their pipeline full … do you have the other check right there? For everybody watching … if you’re listening to this, go to Brent Daniel’s Real Estate on YouTube and you can check out first, all the information that you need, but here’s a check that he’s got that he just got for 12,200 … hold on, just pull it back a little bit. $12,274. Boom. I love it. Look at that, and you’ve got other ones. You’ve got another one closing in a week?

Jamiah: Yeah man. I’ve got some things flowing. Well, due to some unforeseen circumstances with … the city of Baltimore just had a ransomware attack, so like the whole city has been shut down for the whole month of May. Some IT hackers went in and basically held the city for ransom. Of course, the city didn’t pay it out. They chose to build up their own systems from scratch, so now in terms of pulling lean certs and –

Brent Daniels: Oh, yeah.

Jamiah: – bills and property taxes, everything is on a paper show.

Brent Daniels: Oh my gosh.

Jamiah: So everything’s going back to courier. So yeah, everything has been slowed up. So month of May was horrible, but this month should hopefully make up for the previous month. So yeah, man, I got another one in the pipeline for about 19,000. Yeah, we got some other hot leads, but that one is the most recent one.

Brent Daniels: Love it, and you are getting these from calling, from picking up the phone?

Jamiah: Oh yeah. 100%, TTP.

Brent Daniels: TTP. I love it. So what lists are you calling right now? What’s working for you?

Jamiah: Yeah, I’m using a very niche list. I’m actually going after Baltimore City’s violation list, and if anyone’s in the Baltimore market or wants to invest in the market, it’s actually publicly available. So there’s a website, if you just Google it, search Baltimore City code violations, they … I guess it’s by law you have to publicly make it available. So I go in … I actually got a VA now that goes in and scrapes the data and get the owner’s name and she pulls me fresh lists weekly, and once I get the list, I skip trace it and just get on mojo and start calling, man.

Brent Daniels: Love it, and a VA stands for a virtual assistant. It’s basically an assistant that you would hire from … typically it’s the Philippines. Is yours in the Philippines?

Jamiah: Yes, she’s in the Philippines.

Brent Daniels: How did you find her?

Jamiah: Oh, on upwork.com.

Brent Daniels: Yep.

Jamiah: Upwork.

Brent Daniels: Yeah, so upwork.com makes it super, super easy to post for different assistants, and what Jamiah’s talking about is he scrapes the list to pull the address and/or the owner info from the code violations. What I suggest is if you’re going to hire a virtual assistant, make a video of you doing these things, or the things that you want them to do, and it’s going to cut the learning curve like crazy. I use a thing on my computer called ScreenFlow. I think that you can even record from Google Drive or something. I don’t know, there’s a bunch of different resources to record your screen, and then you can share it with your virtual assistant so that boom, they see what’s going on and then now they’re doing that repetitive task that you don’t want to be doing every day or every week, and you’re getting those leads and you’re getting through it and you’re getting their phone number, you’re picking up the phone, and you’re taking action. When do you typically make your calls?

Jamiah: So yeah, I’m not the best at having the best schedule, but I strive to get them in early. I shoot for somewhere between 8 to 11, 9 to 12. I really want to be done by the first half of the day so that way I can really have the rest of the day to go on appointments, and also too, I just hired a cold caller, so she tends to call in the evenings. So 7, around that time frame. So we’re really working it that way.

Brent Daniels: Yeah, it’s great when you can start leveraging other people and their talents and their skills, and when you’re doing other things, when you’re doing lead followup or you’re selling the deals or you’re on appointments, you have somebody that’s constantly calling. That’s how you start building and scaling and growing this business and keeping it really, really, really lean, because you don’t have to have a huge budget to bring somebody on that’s going to start rolling and keeping your pipeline really, really, really healthy so that it’s constantly throwing off a deal, two, three, four, five, ten deals a month, whatever it is, and life gets really exciting at that point for sure, yeah.

Jamiah: Yeah, absolutely, man. Hopefully I hope to scale. One person has time.

Brent Daniels: You got it.

Jamiah: Don’t want to get too –

Brent Daniels: Yeah. Yeah, you will, especially with the big checks that you’re getting. I mean you got 19, you got 21, you got 12. All of these, they just add up, add up, add, add up. You keep your costs really, really tight. Watch that bank account all the time. Don’t think because you get these big checks that you want to go out and spend it all and be crazy. Keep it really, really, really tight until you’re building up, until you have whatever, three, six months in reserves for your operating and your living, and then you can start getting a little bit wild out there, but tell everybody how to get ahold of you. If they want to get ahold of you, if they want to network with you in Baltimore, if they want to be on your buyer’s list, if they just want to maybe meet you, meet up, talk, whatever, they gel with you on some level here. Maybe there’s a poor accountant out there that is just sitting listening to this and he’s like, “Oh my gosh, this is my story. This guy seems so happy and he’s free and he’s doing real estate.” How should people get in touch with you? Do you have a Instagram or something?

Jamiah: Yeah. To be honest with you, I’m horrible on social media, but the best way to really really reach out to me is by email, charmcitypropertysolutions@gmail.com, and reach out to me. Feel free to ask me any questions. I learned from the best like Brent. I try to strive on being a Go-Giver as much as possible.

Brent Daniels: That’s right.

Jamiah: I just really want to give as much as I can back to the community, so absolutely.

Brent Daniels: I love it. I love it, and thank you so much for sharing. I think there’s a lot of people there that … I think there’s a big turn going on with our generation and the younger generation, just that people are understanding that happiness matters, that we have options, that having the self awareness that you can be happy and be an entrepreneur, and real estate is a great vehicle. Wholesaling real estate is the perfect vehicle for getting big checks so that you can fund whatever your passions truly are. If you want to be some sort of real estate mogul and you own a lot of properties, or if you want to start another company or invest in companies or whatever. I mean read Rich Dad, Poor Dad. They talk about the different quadrants that you could get into, but wholesaling is that bridge.
Wholesaling is that bridge that can get you there and really get your income to a nice, healthy spot where you can start investing and having those options. So I think that it’s great. Thank you so much. If you guys want … on the YouTube channel is going to have all the spelling of Jamiah’s name and his contact info and then also some resources that you can use there, and if you’re ready to join the most proactive group, join us together in the TTP program. Go to wholesalinginc.com/TTP. That’s wholesalinginc.com/TTP. Scroll down, check out what the program is about. Go check out all the testimonials. If it feels good in your gut, sign up for a call. We’d love to work with you personally. Yeah, amazing. Well, thank you so much. You have been amazing, and I look forward to seeing you just explode your business in the future. It’s going to be incredible.

Jamiah: Absolutely. Thanks a lot, Brent. I appreciate the opportunity, man. This is a dream come true for me. I always wanted to it, but I never felt like I was really solidified or had enough credibility to come on, but these past few months have been like a whirlwind, and yeah man –

Brent Daniels: You certainly do, and you brought an incredible value. So everybody out there, listen. You guys are amazing. Rhino on, progress, not perfection, and I highly encourage you to go out today and talk to people. Til next time, see ya.

Leave a Reply

Your email address will not be published. Required fields are marked *

Wholesaling