Posted on: July 25, 2019
WI 293 | 9-5 Job

 

Do you have a comfortable, secure, and well-paying job that does not make you happy? If you answered yes, 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 realizes 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 later, and he could listen to Tom Krol on Bigger Pockets. From there, he decided to go for it, take massive imperfect actions, and follow Tom’s step-by-step instructions. And the rest they say is history.

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

 

RESOURCES:

Leaving a High Paid Job to Go All-in on Wholesaling With Jahmai Nicome

Episode Transcription

This is the show where we 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. This guy had some phenomenal and 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 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 Jahmai Nicome.

What’s going on, Brent? TTP baby, let’s do it.

Jahmai, I introduced you and this is something that you had posted to the TTP group. You were going through a lot of different things at the time but you had essentially a comfortable financial position with a secure job. Can you tell us about that?

A quick background on my story, I did everything that everyone tells you to do which was go to school, get a good job and have a nice career. Ultimately, attain the American dream. I went to college and graduated. I studied accounting. A quick backdrop on that, I researched the ten highest-paying jobs and accounting pops up. It’s the least amount of school, let’s do it.

I went with it and got a nice government-paying job. It was a great salary. I started at $50,000 but in the government, it’s an incremental promotion each year. You get a $10,000 pay raise. It’s pretty much guaranteed. You have to be a mess to not get the promotion. Fast forward a few years, I slowly realized that I hated it. I was trying to figure out my exit strategy within the first 2 to 3 years. I’m like, “This is not for me. I got to find something else.”

There are a lot of people reading this that maybe have a full-time job or had a career for years and years. You graduate, get this job and you’re excited. You’re like, “My life’s on the right path.” How far into it were you like, “I get it. I’m comfortable and secure but I’m not happy?”

To give you a timeline, I graduated from 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 and get some experience. I worked at a small accounting firm for two years. It was cool. It wasn’t stressful per se but then after I got the experience for two years, I got a government job in 2014.

From 2014 to 2017, I had a nice job and increased my grades every year as a GS-9. I was making about $57,000. I got promoted to GS-12. I was making $87,000 when I left. I transferred. I was like, “This job is brutal.” I’m working from 6:00 AM to 2:30 PM. It was tough. I said, “Let me try another agency. Maybe something else might have a different experience.” I moved from Baltimore down to Arlington, Virginia. The commute was treacherous, to say the least. I did that from 2017 to 2019. At that point, I’m like, “This is not the way to go.” I ended up leaving in April 2018.

Has real estate always been in your mind? Why not do some other business, drop-shipping, Bitcoin and all these other things? Why real estate?

When you just started with a real estate deal, you don’t even know what it is. But somebody can help you, nurture the situation, and close the deal forever.

The reason why I gravitated towards real estate was that, in college, I took an entrepreneurship class and the professor was amazing. It was a very independent study. The first book she gave us to read was called Rich Dad Poor Dad. That changed my mindset about having a job and paying yourself first. Real estate was the key. I don’t want to say I was so young but I guess my mindset wasn’t there for me to fully dive in and commit. Trying to figure out real estate per se is so big. There’s so much difference.

Fast forward, I’ve seen this guy Mark Whitten on WorldStarHipHop back in the day. He’s a local Baltimore wholesaling guy. He had an infomercial on there, “Do you want to make money in real estate with no money down?” My mindset is so closed, scarcity. I couldn’t grasp the concept. I’m like, “Is this guy true? Is he trying to pitch me something?” Fast forward a few years later, I ended up listening to the BiggerPockets podcast to a guy, Tom Krol, the legend. He gave step-by-step instructions on how to get started and from there, I took off and kept it going.

I had originally heard Tom Krol’s interview with his brother, Todd Toback when he was doing his 90 Days to Greatness where Tom was broke and his brother pulled him on video on YouTube and his podcast. He was like, “You got 90 days left of the money. This is go-time.” It was the best step-by-step, do exactly this instruction that I had heard. I was like, “This is so incredible.”

We fast forward and I’m a host of this show. I have you. I get to interview amazing people. This business is incredible, especially once you start going. When you did your first deal, it wasn’t life-changing or retiring to greener pastures and sitting on a beach somewhere. Talk to us about it. You listen to this interview with Tom Krol and then what happens?

Once I got off the interview, he gave us step-by-step instructions. I went directly to ListSource and pulled the absentee owners list. I didn’t filter it out. I took massive imperfect action. I went for it and mailed postcards the first time around. Long story short, I didn’t get a solid response. I probably got five or a handful of calls but it never amounted to anything. It gave me the experience and confidence to talk to people. I went out for an appointment. Fast forward, I ended up using that same list. Once I got into the show, I got into your episodes and you were talking about cold-calling. I’m like, “Let me use this list and cold call.”

I ended up doing that and lo and behold, I found an elderly guy. He had two duplex units in Baltimore and wanted to get rid of them. He was aging. That’s when I went out there. I went to an appointment. He showed me the house. It was in pretty good condition. He had new furnaces and water heaters. It didn’t need any work but he wanted to get rid of it. It seemed like the tenants were not the nicest people and on top of that, he was getting elderly.

I got in there and locked it up at $60,000. I didn’t know what I was doing but I did have a few negotiation tactics. I scheduled an inspection with my brother who was an HVAC tech. He came in with me the following week. We took a look at it and did our inspection. I ended up getting a price reduction of $55,000 but at that time, I didn’t have any buyers. I reached out to a guest on one of your episodes. She’s a local girl. I believe her name was Nana. She brought the buyer. We made $8,000 on that first deal.

I always encourage that when you’re starting 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. With that, I always encourage you to reach out to somebody that has the experience. At least, it’s going to give you the peace of mind to know, “Yes, you’ve got something good here. I’ve got the perfect buyer for it or we’ll partner and I’ll blast it out.” Make something on it so that you understand the whole process of closing it and getting through it. Also, get your first checks but also keep building up that buyer base.

 

WI 293 | 9-5 Job

9-5 Job: Reach out to somebody with the experience. That somebody will give you the peace of mind to know if you have found the right buyer.

 

At the end of the day, wholesaling is so niche. I’m grateful to even find the Wholesaling Inc group on Facebook, the show and having this community because when you’re first starting, you don’t know what the deal is. She was a great deal of help to come in, nurture the situation and get this thing to close. I’m forever grateful to her.

We’re going to be talking about some of these deals you’re doing. How is it? Are you still partnering with people or building it? Talk to us.

My buyer base is pretty strong. I took your advice, which is to find a local wholesaler in your community or market and trade lists up. I’m at 1,300 buyers. It’s a mix of agents as well. I have a pretty consistent buyers list.

You build up your cash buyer database to maybe 200, 300 or 400 people, whether that’s getting agents off of Zillow that are doing flips or driving around. If you see a dumpster in the front of the house, there’s a renovation. You go in and talk to them. You talk to builders. You go down to the foreclosure auctions and talk to those buyers. Find somebody that has a similar size and trade with them. Keep trading up and all of a sudden, you have 1,000, 2,000 or 5,000. You’re rocking and rolling because the more robust, healthy and fresh your cash buyer database is, the more you’re going to make.

It’s an absolute fact. Don’t be, as Tom Krol would say, a CBE, a Cash Buyer Employee. Don’t sell it to the same person over and over again. I did that for a year and a half and I was making $12,000 per deal. Now, we’re at $27,000 per deal. It’s a big difference. You had posted to the TTP private Facebook page a nice healthy check. You’re getting close. The funds in your account where we’re whittling down. You were throwing everything that you had at this wholesaling business and finally, you pushed and pushed. You finally broke through. Let’s talk about that.

That check was from driving for dollars. They always say that that’s the biggest deal but at the time, I didn’t know. I was following instructions. I’m going to drive dollars and look for the worst houses on the block, which I did and this one happened to be a fire-damaged property. I went home. I didn’t even have the DealMachine app yet. I wrote it down. I went to BatchSkipTracing.com. I got the phone numbers and called him on a Sunday. I got him. We had a great conversation. He told me that he had the home for 35 years. He raised kids in it. He had the insurance money already. If he was able to sell it, he was great with it. Fast forward, we were able to set up an appointment. I go out there. It looked bad from the outside but on the inside, everything was charred. It was full of soot. It was ridiculous.

Is this a brick home or a wood-framed home? What type of home is this?

It’s a brick home but I believe the beams and a stud still had wood built. Everything needed to be replaced. We walked through it and look into one of his closets. He pulls out that board game that Robert Kiyosaki made.

The more robust, healthy, and fresh your cash buyer database is, the more profit you can make.

The CASHFLOW.

He pulled it out and was like, “This is the most valuable thing I have in his house.” We got to build rapport again talking about real estate. I’m like, “That’s pretty much what I do. I go out and find properties for other buyers.” I was transparent with him. Long story short, we ended up agreeing on $35,000. At that time, with my buyer’s list, I sent it out at $59,000 thinking, “Maybe I should get something.” Nobody responded.

I didn’t give up. I continued to Rhino on and charge forward. It’s a hot investor area so I looked at all the new flips and see who owns them. I pulled ten LLCs. Somehow, I was able to Google, skip trace and find numbers. I set up all the house and out of 10 people, 6 came. We got an offer for $60,000. I jumped on it and moved forward with it. We were good to go.

Let’s pull this back a little bit for people that aren’t familiar. If a property is owned by an LLC, typically what you have to do is Google it and try to find the managing member or somebody that’s the owner of that property. Typically, it is on your local or state corporation commission website. What’s pretty awesome is when you start a business, you have to record your articles of organization and some other things depending on which state you’re in. It’ll have the information and sometimes the address for the owners of that LLC, which is great because then you go in, put it into BatchSkipTracing.com and use TTP as a discount code but you get the information. What did you tell them when you called them?

“I picked up a smoking hot deal. It’s right in your niche. I see you renovated single-family home. This one is similar to square footage. It looks like something that you can flip.” He was open to it.

Did you get 6 out of 10 there?

I set up the open house based on his timeframe. He said he could do it on Monday at 3:00. I told all the buyers, “Open house Monday at 3:00.” It is 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. We got a lot of interest. It worked out that way.

I love that you didn’t just send it out, hope and pray that somebody bought it. Somebody didn’t buy it and then you took it to the next step, which is to pick up the phone and call the people around that area that are doing flips in there that know, like and probably live around that area. All of these things are important but you got to take that extra step. Don’t let getting no response from an email blast, a text blast or something stop you from reaching out to the specific buyers in that area. They might’ve even gotten that email blast, they didn’t open it at the time, they’re doing something or they get a ton of emails all the time.

 

WI 293 | 9-5 Job

9-5 Job: Wholesaling business is about talking to people. You must have a whole and active mindset to know any adversity that comes your way.

 

I’m telling you, in this market, if you’re having trouble selling your properties, you got to pick up the phone and call them. Not even texts anymore. People are getting too many mass texts and voicemails. You got to pick up the phone, call them and get them on the phone. It is so powerful. I love that you mentioned that because that’s something that I did want to talk about on this show. That’s huge.

It is huge because, at the end of the day, that’s what this business is about, talking to people. You got to have a full active mindset and any type of adversity comes your way, you’ve got to figure it out, get on the phone and make things happen.

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 and moved on with the thing. This is bonus money. They want to get something out of the lot but it’s more like they’re selling land than they’re selling the property. It depends on how bad the fire damage is but these people at that point are typically unemotional about it. They’ll have a price and give it to you. Usually, it makes sense because they’ve already gotten a big check from the insurance company. They’ve paid off their debts, got money and wanted to get this off their plates so that they can move on with their life like what happened to you. What did you net on this?

After closing because I did a double close, we came out to $21,890.

Here’s the deal. You were talking about the first ones where you were splitting 8,000. You did one that was $1,000. You’re pushing and trying to get those big checks. Once you get something that’s over $20,000, things are like, “I’ve got some breathing room. I’m building it up. I’ve got some reserves.” In my opinion, people like you are growing their business and keeping their pipeline full. For those reading, go to Brent Daniels – Real Estate on YouTube and check out all the information that you need but here’s a check that he got for $12, 274. You’ve got another one closing.

Yes. I got some things flowing. Due to some unforeseen circumstances, the city of Baltimore had a ransomware attack. The whole city has been shut down for the whole month of May 2019. Some IT hackers went in and held the city for ransom. The city didn’t pay it out. They chose to build up their systems from scratch. In terms of pulling lien searches, bills and property taxes, everything is on a paper trail. We are going back to the courier. Everything has been slowed up. The month of May 2019 was horrible but the following months should hopefully make up for the previous month. I got another one in the pipeline for about $19,000. We got some other hot leads but that one is the most recent.

Are you getting these from picking up the phone and calling?

Yeah, 100%, TTP.

Wholesaling real estate is the perfect vehicle for getting big checks so that you can fund whatever your passions truly are.

What lists are you calling? What’s working for you?

I’m using a very niche list. I’m going after Baltimore City’s violation list. If anyone is in the Baltimore market or wants to invest in the market, it’s publicly available. There’s a website. If you Google it, search Baltimore City Code Violations. By law, you have to publicly make it available. I have a VA. She goes in, scrapes the data and gets the owner’s name. She pulls me a fresh list weekly. Once I get the list, I skip trace it, get on Mojo and started calling.

A VA stands for Virtual Assistant. It’s an assistant that you would hire. Typically, it’s the Philippines. Is yours in the Philippines?

She’s in the Philippines.

How did you find her?

On Upwork.com.

Upwork.com makes it super easy to post for different assistants. What Jahmai is talking about is that 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.

You can even record from Google Drive or something. There are a bunch of different resources to record your screen and then you can share it with your virtual assistants so that they see what’s going on. They’re doing that repetitive task that you don’t want to be doing every day or every week. You’re getting those leads and getting their phone number. You’re picking up the phone and taking action. When do you typically make your calls?

 

WI 293 | 9-5 Job

9-5 Job: Wholesaling is the bridge that brings your income to a nice, healthy spot where you can start investing.

 

I’m not the best at having the best schedule but I strive to get them in early. I’ll shoot for somewhere between 8:00 to 11:00 and 9:00 to 12:00. I want to be done for the first half of the day so that way, I can have the rest of the day to go on appointments. I also hired a cold-caller. She tends to call in the evenings from 3:00 to 7:00 or around that timeframe. We’re working it that way.

It’s great when you can start leveraging other people, their talents and skills. When you’re doing other things like lead follow-up, selling the deals or you’re on appointments and you have somebody that’s constantly calling, that’s how you start building, scaling and growing this business. Also, keeping it lean because you don’t have to have a huge budget to bring somebody on that’s going to start rolling and keeping your pipelines healthy so that it’s constantly throwing off 2, 3, 4, 5 or 10 deals a month or whatever it is. It’s exciting at that point, for sure.

I hope to scale one person at a time.

You will, especially with the big checks that you’re getting. You got $19,000, $21,000 and $12,000. All these add up. You keep your costs tight and watch that bank account all the time. Don’t think because you get these big checks that you want to go out, spend it all and be crazy. Keep it tight until you’re building up or you have 3, 6 months of reserves for your operating and living. You can then start getting a little bit wild up there.

Tell everybody how to get ahold of you if they want to network with you in Baltimore, be on your buyer’s list, want to meet up and talk or gel with you on some level here. Maybe there is a poor accountant out there that is sitting, reading this and is like, “This is my story. This guy seems so happy. He’s free doing real estate.” How should people get in touch with you? Do you have an Instagram or something?

To be honest with you, I’m horrible on social media but the best way to reach out to me is by email at CharmCityPropertySolutions@gmail.com. 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. I want to give as much as I can back to the community.

Thank you so much for sharing. There’s a big turn going on with our generation and the younger generation. People are understanding that happiness matters. We have options. Having the self-awareness that you can be happy and be an entrepreneur. 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 a real estate mogul and you own a lot of properties or if you want to start another company or invest in companies, read Rich Dad Poor Dad. They talk about the different quadrants that you could get into.

Wholesaling is that bridge that can get you there and get your income to a nice, healthy spot where you can start investing and having those options. It’s great. If you’re ready to join the most proactive group, join us together in the TTP program. Go to WholesalingInc.com/TTP. Scroll down and check out what the program’s about and all the testimonials. If it feels good in your gut, sign up for a call. We’d love to work with you. Thank you so much. You have been amazing. I look forward to seeing you explode your business in the future. It’s going to be incredible.

Thanks a lot, Brent. I appreciate the opportunity. This is a dream come true for me. I always wanted to do it but I never felt like I was solidified or had enough credibility to come on.

You certainly do and you brought incredible value. Everybody out there, you are amazing. Rhino on. Progress, not perfection. I highly encourage you to go out and talk to people. Until next time. See you.

 

Important Links

 

About Brent Daniels

483Brent Daniels is a multi-million dollar wholesaler in Phoenix, Arizona… and the creator of “Talk To People” — a simple, low cost, and incredibly effective telephone marketing program… Also known as “TTP”… it helps wholesalers do more, bigger, and more profitable deals by replacing traditional paid advertising (postcards, yellow letters, bandit signs, and PPC) with being proactive and taking action every single day! Brent has personally coached over 1,000 wholesalers enrolled in his “Cold Calling Mastery” training, and helped 10,000’s of others who listen to him host the Wholesaling Inc. podcast, watch his YouTube channel, and attend his live events… A natural leader, Brent combines his passion for helping others with his high energy, “don’t-wait-around-for-business” attitude to help you CRUSH your wholesaling goals as quickly and easily as possible!

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