Apart from being lucrative, one thing that makes wholesaling truly amazing is you can do it on the side. In fact, today’s guest has a full-time job and just sets aside an hour each day for the business!
Jordan Tinning is a hardworking rhino from Lynnwood, Washington. While he spends only an hour each day on his wholesaling business, he was able to do a lot of impressive things: he provided value and service to others, closed a deal, and walked away $10,000 richer!
If you’re considering getting into wholesaling but don’t think you can find the time, you can’t miss today’s episode. Ever the go-giver, Jordan not only shared how he was able to make things happen, he also provided a lot of sound wisdom and insights. You’ll have plenty of gold nuggets to take note of so make sure you have a pen and paper handy!
- Wholesaling Inc – TTP
- The Book on Rental Property Investing by Brandon Turner
- The Compound Effect by Darren Hardy
How To Dominate In A Crowded Market With Jordan Tinning
I’m excited to be with you. I’m excited about our guest and what this episode will do for each of you. For those new to the show, first and foremost, I want to welcome you to the number one wholesaling coaching program/show in the nation. We will be deep-diving into how individuals across this nation find deeply discounted properties and then turn those into huge profits through an assignment. Some may do a fix and flip, or keep them for long-term buying holds. If you know how to find those deeply discounted properties, you can become wealthy in real estate.
We have Jordan Tinning with us from Lynnwood, Washington. He has been part of the tribe and been wholesaling part-time because he has a full-time job. He has spare time that he sets aside every day to work on wholesaling. He did an awesome deal right there in his local market. He’s going to share a little bit about step-by-step how he’s able to do it. To each one of you reading, pull out a pen and a piece of paper. Get ready to jot down some gold nuggets because he will share a ton of them. Let’s get going right now and take some action. Jordan, how are you?
It’s a pleasure to be on the show. I’ve read to so many of these as a reader. It’s an absolute pleasure to be on the show, deep-dive the deal, and share some gold nuggets.
Fill in the gaps a little bit. Help us understand what you do full-time. When we say you do wholesaling part-time, what does that look like? Is it 30 minutes, 1 hour a day, 3 hours a week, or 15 hours a week? Let them know what you do full-time and how much time you dedicate to this part-time.
Full-time, I do IT staffing and consulting sales in big technology companies in Seattle. We’re replacing high-level technology consultants for a fee. My job is to connect with decision-makers in these companies and then provide our services and talent for their projects for a fee. Essentially, I’m acting as a broker in that business as well. That’s what attracted me to wholesaling because you’re essentially doing the same thing. You’re brokering a deal and adding value to both parties. I’m doing sales, cold calling daily, and meeting with decision-makers.
My day job is pretty busy. I set aside about one hour a day, Monday through Saturday, to work on my business and create something I’m passionate about. I love real estate. The great thing about wholesaling is there are so many different ways to acquire these deals, and then the backend doesn’t matter. It’s getting the property at a deep discount. Whether you assign that property, keep it for yourself or flip it, the options are limitless. That’s what I love about real estate. It’s a beautiful thing.
What I love about this is 1a day could take a little bit longer than someone doing it full-time or someone able to do 2, 3, 4 or 5 hours a day. Doing it one hour a day has still been able to help you maintain and still serve well at your 9:00 to 5:00 job. It’s doable to anyone, whether you are married or not, whether you have kids or not. Usually, anyone out there can find one hour in the day.
Maybe it is cutting back your Netflix, football time on TV, or your social media time. When I hear that schedule, it’s like, “This is encouraging because you can carve out an hour a day to do what you’re doing.” Let’s jump right into this. Let’s talk about what these have looked like and how you got this deal? Walk us through it step by step.
You and I spoke about this on the phone. I was super excited. I was like, “I’m doing this. I’m taking the plunge. I’m going to sign up and be a Rhino.” I did some of the coaching calls with you and Tom. Your story is what got me into the whole guru thing. Some other coaching programs don’t add as much value. Kudos to you, guys. I decided to do the course. I’ve got through it in about a month and a half. I started cold calling.
I did that because Dan Goshka, who you guys know and who’s an awesome Rhino, is crushing it. He and I connected about finding a good attorney in the area, and then ever since then, we’ve cultivated a friendship. I told him a little bit about my background, and he’s like, “Start diving in there. Do cold calling. I wish I would have done cold calling when I started the program.” That’s not something I would recommend everybody do.
This was like a natural fit for you. This seems like this is something you’re like, “Why not? I do this every day.”
I don’t mind. There’s a triple dialer where you call three people at a time. I was like, “That’s cool. I can’t wait to try that.” He encouraged me to jump in and do cold calling right out of the gate. I said, “Why not? I’m already doing that.” I’ve been cold calling in the evenings in the list I’ve been using. I started with the high equity hot ZIP codes you discussed in the course. It’s a unique list, and everybody in this area is hitting the high equity list. I did thousands of cold calls. I’ve made over 6,000 cold calls.
You were going to town. You were picking up the phone and weren’t going to give up. It’s like, “It’s on. I’m getting a deal. I’m doing this.”
Tom always says, “You’re going to call 100 people, and 99 of them are going to say, ‘No, I don’t want to sell my property at a discount.’” That is true. In that time, I have 539 noes out of those 6,000. That’s a lot of time to hear a no. I got to Rhino. You’ve got to power through. I’ve got 54 maybes and then only 5 yeses. Another interesting thing is that I’m tracking these numbers, and what that data tells me is that this list isn’t good in my market.
I’ve found that because Seattle is a tech hub, many of these high equity hot ZIP codes are technology people. They have signing bonuses from Amazon. They’re buying these houses all cash. They’re not investors. They’re buying it for themselves. What I’m learning is I got to find areas that maybe are a little bit more up and coming or outside of the city that is still growing. I’m learning by looking at this data and saying, “I got to refine my list a little bit better and figure it out.”
I did want to follow the course in terms of not reinventing the wheel. I went to the county and asked for the code violations and the tax delinquent list. I found that they were willing to give me that information, but I had to sign a piece of paper that said, “You will not use this list to profit.” I’m a Christian, and I run my business with integrity. I didn’t feel comfortable signing something like that. I had to get out there. Like every newbie probably does, I’m like, “I’m going to hit the high equity list.” That’s what everybody says.
Real estate wholesaling offers so many different ways to acquire deals. The backend doesn’t really matter. The options are limitless.
That’s where I started, and there’s nothing wrong with that. I’m learning as I go that I have to find areas that aren’t quite so hot. There are a lot of different zoning laws that are changing because it is growing so fast that the cities are changing the zoning laws. I can go to people and maybe even give them a whole price cash offer or get them close to retail. I can turn around and wholesale that property to a developer who can put 2 or 3 townhomes where there was a dilapidated single-family home. That’s a win-win.
There’s this uniqueness about your market that maybe not everyone sees, but there might be people reading and saying, “That’s the same as my market. That’s exactly how it’s working.”
Seattle is absolutely a unique market. Behind San Francisco, it’s the biggest tech hub in the whole country. Amazon is expanding like crazy. All the big tech companies, Starbucks, Disney, Microsoft, and their headquarters, except for Disney. There’s a lot of cash influx. There are a lot of jobs. You got to find that niche, which is remarkable about this. I powered through it, and then the deal didn’t come through the high equity, although I do have a few that pop because of that.
Here you are doing this cold calling. You also did things right out of the gates that a lot of people will fail to do because they may not want to be vocal about what they’re doing. Brush up and touch up with us about what you did that was unique in making sure people knew what you were doing.
That’s a good point because my mentality was, “I’m going to start cold calling. That’s what I’ve always done. That’s what I know.” There’s nothing wrong with that, and that will help me down the road once I sharpen my ax a little bit and figure out the leads. I started telling my family and friends. I’m passionate about real estate and wholesaling. I love the program you did. There’s a cool community, and I got plugged into that community right at the beginning. I wanted to share that with other people. It wasn’t fake like, “I got to tell people that 0this is what I’m doing.”
It came from a natural desire to share, “This is what I’m doing. If you guys know of anybody who may have a property that they aren’t selling on the MLS or it needs a lot of work, and they don’t want to fix it, let me know. I would love to see if I can add some value there.” I’m sharing it with family and friends. I’m on Facebook once in a while but wasn’t blasting it all over social media. It was just a natural organic conversation. People can sense that. They will come to you when deals come up because they remembered that conversation you had with them.
There are a lot of people out there that are reading that are already doing deals. There are people that are reading that have never done a deal, or this is new to them, but they’re already thinking, “I didn’t even think to talk to people that are right here in my network, my friends, my family, and let them know what it is I’m trying, and I want to do.” It’s crucial to let people you do know because you never know who’s going to come across a situation or an incident. They know or hear about someone needing to do a quick sale or has problems. They want to sell their home super fast.
Their neighbor next door has a home that’s been entirely run down, and it’s awful. It’s an eyesore to the neighborhood, like, “I’ve got an incredible referral for you because I want this home to be fixed up because my home looks bad because it’s next to this home.” You never know. Rhino Nation, something to point out and take note of is if you have not let people know what you’re doing, let them know. This will come into play on why Jordan was able to find a deal and how he was able to find this deal that we’re talking about. Keep going. So let’s talk about the deal and go right into it. How did you find it?
I got wind of the deal from my mother-in-law, a real estate agent. She’s been a real estate agent in this market for many years. Somebody who wanted to sell came to her, and she took one look at the property and said, “No way. I’m not going to touch this,” then I got the call. She called me and said, “There’s this property in Tacoma, one of the hottest markets for investors in this area. What can you do for me? I don’t want to touch it.”
“There’s no way it’s going to pass inspection. It’s going to take a lot of work. I’m hoping to walk away with a little something.” I took that information and ran it through my systems. I use Colligo, which is a fantastic tool up in Washington. It provides comps, rehab, and budget. It’s a great tool for running numbers. I printed some initial numbers and didn’t know it would work.
Another good thing Rhino Nation should jot down, or at least keep in mind, is partnerships. I had this partner. His name is Ken. He’s in Tacoma. He lived in the same city or near the same city. He’s been mentoring me. He’s been doing wholesaling for many years. I connected with him because he worked with my wife at the county of assessment.
My wife’s a residential appraiser. I said, “Let’s take a look at this deal. These are my numbers. I’m not sure. It might be too skinny to make this work.” He took a look at the numbers. He was able to tell me that real estate is based on territory. The numbers can be different based on how hot this market is or the price point and things like that. He’s like, “You’re being too conservative here. We can get a higher ARV out of this property. We can make this work.” All the seller wanted was to walk away from the property. She owed about $183,000. She wanted to walk away with something.
This was a referral. I wanted to ensure that we could get her a little something. We ended up going down to see the property first. We did a walkthrough. We took pictures and did a video walkthrough as well. We had to go to the title company and ensure that what she owed was what she owed. Sometimes people tend to over-underestimate what they owe. It turned out that was correct. We made an offer for her for $200,000, so she could walk away with $17,000 and have enough money to rent an apartment. We were able to give her some cash in her pocket, then we turned around and marked it up about $20,000. We sent it out to our cash buyers.
The other exciting thing is that initially, it was crickets. I sent this out and didn’t hear anything for 24 hours. It was discouraging. I didn’t know any better. I’m always taking massive action and doing things I’ve never done before. Fortunately, I had a partner so that I could talk to him a little bit about it, but nothing. I blasted it out. I have a MailChimp, so I can see who opened it, and that’s at least nice. You see people opening it multiple times, and you’re like, “Why aren’t they responding to me?”
“It’s been 24 hours, and I haven’t heard from someone.” Here’s what’s great. Even with our deals nowadays, we’ll have people come in the 11th hour, 5 days after, or 1 hour before we’re done taking any offer. We’ll have this happen all the time. It’s more like 5, 6, or 7 days from when we presented it to them, and they’ll come in.
As I spoke to my partner Ken, I said, “What’s going on? Did we miss the numbers here?” He said, “This is normal. People got to run their numbers.” Even though we made a nice little package with the marketing, we broke down all the numbers and what the estimated rehab was. You guys say not to do that. We probably shouldn’t do that, and going forward, I won’t do that.
Make sure to do your homework when pursuing referrals. Your name and reputation are at stake here.
Here’s what’s hard. You could say, “The estimated repairs are $30,000,” but you could bring in 10 different contractors, and all 10 contractors will give you a different price. They’re going to run their numbers anyways and know their costs. They’re not going to go off my cost or your cost because they’re like, “It’s $33,000 or $25,000.” It’s like an appraisal. I can get ten appraisals, and all appraisals will come back differently. It’s one of those things. Do we want to worry about that, or should we just let them do their numbers?
I’m being candid here. I did the ARV as well. I know Tom hates that. I got beat up on it a couple of times. What’s funny is I got beat up on it a little bit, but we still ended up getting it done. To all of you out there, ARV is important. You should keep it in mind. Some people like to add it, and some don’t, but let the investor make up their decision on that because Cody nailed it. You can bring in a contractor. One will say $35,000. Another one will say $20,000 or maybe even $15,000. It depends on the exit strategy and what the contractor wants to do to the property.
That is a wide variable. You don’t even want to get involved in that because that’s not what we do. Our deal is to find deeply discounted properties, present them, and let the cash buyers figure out what they want to do with the property. As soon as you start putting a number to that, it can make things a little more complicated. They could start arguing with you on that. That’s not what you want to do. You want to keep the focus on the deal to get it to the finish line.
You send it out. How many people start getting some interest in what gets going?
We had 3 or 4 emails trickle in, and it was all, “I need it to be $20,000 or $30,000 less than that. It needs to be under $200,000. I could do it at $200,000. Let me know if it’s not moving.” It’s like I’m feeling depressed. Not only that, but this is a referral. The other thing about referrals is that you want to make sure you do your homework on that because you know your name and reputation are at stake. I was feeling it even more. I’m like, “I don’t even care if I make that much. I want to deliver for them to get to the finish line and add some value here.”
We got a couple of emails trickle that we also do. I have a Facebook group that I’m involved in. I posted there. I got many responses there, but not that many bites from it. People wanted me to send them a deal on their email. After we got a few folks, I contacted them on Facebook to say, “Are you interested?” and 3 or 4 people got back to me.
At that point, we decided to set a walkthrough for the next week. There were 3 or 4 people that were confirmed. Only two parties showed up, and a couple of other people didn’t. That was eye-opening. I’m learning this process: “I expected these people that accepted my invite to be there, and only 50% showed up.” Ken was coaching me. This is normal. Things happen. It was also good because those two parties showed up at the same time. It’s like, “There’s somebody else here interested.”
One of the parties brought his whole entourage. He brought three other guys with him. That was cool. One was a contractor, and the other cash buyer sent his contractor out. He wasn’t able to make it and just sent his contractor out. Two parties came, and then we got feedback later that evening. The cash buyer I brought needed a little bit lower, around the $200,000 mark or maybe even a little bit less.
Ken had an interested cash buyer. He had done deals with him before. It wasn’t just an assignment. He wanted to do seller financing. He wanted to take over the mortgage, rehab it, and sell it at the end because it’s cheaper than getting a hard loan. The way we would get our assignment fee was we would get a little bit up front for bringing him the deal.
We pay out the seller. We paid her money so she could walk away and get an apartment. We could get a little bit of money. He would get the keys to the place. He could have his contractor start working on the property. On the back end is when once the sale happens, that’s when we’ll make the rest of our assignment fee plus a little bit of equity, and then it’ll be done. Everything will be good. We’re most of the way through the rehab. Real estate is going into a slow time, but it will all work out. He’s been doing this for a long time. It ended up working out.
What does it look like? Tell me the numbers in general. What will it be? You get this under contract. You got a guy that does some unique financing with it and a unique deal. That’s what I love about real estate. You can always find a way to do deals. Just can you structure it right? What will you end up making on this deal?
We initially put $20,000, so we got under contract for $200,000. We put it out to the market at $220,000. The end buyer agreed to the assignment fee of $20,000, but he said, “We’ll do $7,000 upfront.” My partner and I made $3,500. On the back end, we’re going to make $13,000, and $6,500 is divided by 2 for him and me. On top of that, we each get a little bit of equity. My wholesaling partner and I are going to make 10% of whatever profits the property generates at the time of the sale. We could make even more on top of that.
Each of you made $10,000. If the property sells for what you guys think it will sell, you get 10% of those profits. You have been waiting for that victory bell. You have been consistently working with the time that you had because you do have a full-time job. Doing this part-time, here you are, a few months later, now having a $10,000 check and potentially making even more on that. I am super proud of you. This has been something that hasn’t come easy for you, nor does it come easy for anyone.
I don’t preach to get rich quick or that this is easy. It does test you. It does try you. Jordan was tested and tried in many ways, like, “Will this ever work? There are so many people out there. I’m at month 4, 5, 6, or 7.” It takes time. He only had a little bit of time to dedicate each and every day. It still worked because he stayed consistent. That is the crucial part of knowing about this story. Jordan, you’re a complete rock star, and I want to thank you for sharing your story.
Thank you so much. I’ve been waiting so long to hear that victory bell and to be on the show. This has been great. I have another mentor who’s not in the real estate space, but he told me, “It’s not about the money at the beginning. It’s more about the lessons learned.” You and Tom do a good job of doing it the right way, preaching that, and then putting it into the course. I would echo that sentiment. We get all caught up with the money, and that’s great. We’re in this to make money. It’s not a nonprofit here. We’re in this to add value.
Cody, you say it all the time, “The more value you add, the more you’ll be compensated accordingly.” Take those lessons and failures at the beginning. I made over 6,000 cold calls and got over 500 noes, but I kept going. I kept rattling through. I’m in sales, and there were plenty of days when I thought, “This isn’t going to work. What am I doing? I feel like a fake. I haven’t closed a deal yet. I’m calling these people.”
Real estate is not about the money. It’s more about the lessons learned and how to add value to everyone.
It starts to play a game with your mind. We started to look like, “Maybe it’s not in my deck of cards to have this work, and maybe I’m just supposed to do what I’m supposed to do and be grateful for what I have.” Many times these fake thoughts start to take over our minds.
I do pretty well at my job. I knew this was what I was supposed to do. I kept going. I felt prompted to do it. There have been so many doors that open just from this one deal. I have 2 or 3 contractors that I know now. I have a great relationship with the cash buyer who closed it and added a whole bunch of people, too. I sent that email out, and 5 or 6 days later, things would trickle in. I got people that forwarded my message to other investors. They were reaching out and calling me. It took a little bit of time. I sweated a little bit at the beginning, but I got more value because of that time.
I couldn’t see it at the moment. I thought, “This is excruciating. I want it to be done.” Looking back at it now, being patient, doing it the right way, and the things I didn’t do right is learning how do I do those better next time, and then getting better and learning from that experience. You’ll be that much a better wholesaler and investor. You’ll be able to more confidently cold-call these folks and explain the value that you deliver.
Those are words of wisdom right there. For those of you reading, read to the last things he said. It’s not just about the money. It’s the learning along the way. It’s who you’re becoming along the way. The more we can become someone better and greater, that’s when also our income starts to follow. It’s very rare to see someone’s income outperform who they’re becoming and their self-development. If you want to have the life of your dreams and live life on your terms, you’ve also got to become someone better every day.
Your income or lifestyle is a reflection of who you are at this moment. There’s so much room for each one of us to grow and to get better in so many areas. As you do so, you start to see the world differently, and the world starts to get better. Life starts to get better and live the way you want. It starts to get better. Jordan is sharing some true wisdom here. Jordan, in ending this, we always ask two questions that are always fun to know from our guests. First, what would you do differently looking back if you were starting all over again and right at ground zero?
I liked the course. I probably would’ve gotten the Wholesaling Inc program along with the TTP program. I spoke with Dan Goshka, who suggested, “You’re already cold calling. Just do that.” I was attracted to the program because you and Tom do an excellent job of saying, “We can break this down step by step.” I wanted to learn the business because I want this to be a business. I don’t want it to be a hobby.
It’s a job, and that’s okay. I’m a hard worker. I put in the work but don’t want to do that forever. My wife and I are expecting our first son. I don’t want to be cold calling at 6:00 or 7:00 at night for the rest of my life. I want to be able to outsource that and create a business. I probably would have gone back and done the TTP program. I got a little input from Dan and a few others, but I probably would have done both right out of the gate, so I have some more cold calling specific scripts, lists, and advice. I love Brent Daniels. He’s awesome.
The second question is, what book has been game-changing as you’ve read it?
My favorite book of all time is the Bible. This is not a religious show, so I’ll leave it there. The game-changing book for me is The Book On Rental Property Investing by Brandon Turner of BiggerPockets. I love that book. I want to be a landlord and build my investment portfolio. It’s well-written from start to finish, the same as Wholesaling Inc. I knew nothing about wholesaling too. Now, I’m hiring a virtual assistant. It’s the same way with Brandon’s book. I know nothing about rental properties or how I screen my tenants and get my first property filled. I enjoyed that one. The other more mindset-related is The Compound Effect by Darren Hardy.
You struck a chord right there. That’s a phenomenal book.
I love that book. It’s practical. Anybody who picks up that book will gain value from it. No matter where you are in your life, it is a game-changer. It’s full of gold nuggets. That is a great book.
You are a rock star, Jordan. Thank you so much for being on this show. Many people are reading this saying, “This resonates with me. I do have one hour I can carve out. I have a busy life. I have a full-time job. I have a family.” It may take a little bit longer, but it’s okay. That’s your journey. If you don’t start today, when will you ever start?
Your story brings so much clarity, peace, and hope that even with our busy lives, you can still carve out 1 hour a day, 6 days a week, to make this happen. You can start to see how much more you’re going to carve out and finally get to the point where maybe you’re going to leave a 9:00 to 5:00. I want to thank you for sharing this. There are a lot of people wondering how they will do this. You mapped it out how they can.
I’m happy to share. For those out there that are struggling, I just want to leave you with this. Those thoughts creep in. They’re real. Some of you might think, “He’s in sales, so he’s used to it.” It was as hard for me as it is for some other folks. Follow the program. Keep taking action. That is true and basic. Everybody says it, but it’s true. Take action. Do the right steps, do business the right way, in an ethical way, and the deals will come, I promise. It wasn’t as fast as I wanted, but it came. Once you get that deal, build on that momentum, and it’s worth it. Listen to Cody and Tom. Don’t reinvent the wheel and just take action.
You’re a stud, Jordan. Thank you so much. Rhino Nation, what an amazing episode here. This is going to be one you’re going to want to download. This is the one you will read over and over again. So much value is given because many lives are here reading. Many of you can resonate, read his story, and say, “That is much like mine. That is something that I want to do, and I know I can do.” He shared with you how you’re able to do it. Get out there and make it happen.
Carve out that hour. Find ways to make it happen. Wholesaling is still alive and active. Deals are still out there, and they will forever be out there. It’s up to you to see if you want to carve out that little piece of time to find those deeply discounted properties. Suppose you need help building a successful wholesaling business, head over to www.WholesalingInc.com. Book a call with our team and begin the conversation. It starts with just a simple phone conversation so that we can help you get one step closer to your next deal. Guys, take care, and we’ll see you at the next show. See you later.
- Wholesaling Inc – TTP
- The Book On Rental Property Investing
- The Compound Effect
- 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.