Posted on: October 10, 2019
WI 315 | Real Estate Wholesaling

 

What happens when three rockstar rhinos decide to form a company and venture into wholesaling/real estate together? Six deals, twenty more in the pipeline, and $34,000 in assignment fee from just one deal. And that’s just for starters!

Daniel Saltzman, William Herron, and Richard Smith are the brilliant minds behind Omnis Real Estate, a full service real estate firm based in Dallas, Texas. The company specializes in buying and selling solutions for real estate investors in their market.

If you’re looking to build your own wholesaling/real estate dream team, today’s episode is exactly what you need to hear. From their experiences down to the tips, tricks, and techniques that have worked for them, you’ll hear it all here so don’t forget to tune in!

RESOURCES:

3 Guys, 6 Deals, 20 More In The Pipeline In Just 90 Days

Episode Transcription

We have a phenomenal episode for you because I don’t get the opportunity to interview 1 person or 2 people. I get the opportunity to interview three absolute superstars out of Dallas, Texas. They own a company called Omnis Real Estate. Omnis is Latin, which I was told, for all. I would love to welcome to this show Daniel Saltzman, William Herron, and Richard Smith.

I know it’s hard to see who’s going to talk and who’s going to go. We’re going to get through these guys, but you are doing amazing things. Let me set the tone for this episode because it’s important to hook everybody reading this. They sent me a text message and posted it to the private TTP Facebook group that these guys, in three months, had closed six deals and had twenty deals pending in the pipeline. It’s absolutely incredible. We’re going to break down this and strip them bare. We’re going to find out exactly what they did to be so successful out of the gate. First, why don’t you guys introduce yourself? Give me a little bit of background. What were you doing before you started wholesaling real estate?

This is Daniel. Before doing real estate, I was a sales manager for a fitness company. My girlfriend at the time was applying to a physician assistant school. I quit my job and went with her to Arkansas, where we’re at now. I took a leap of faith. I’ve found real estate. One day when I was on Facebook, I ran into Clever Investor, which I’m sure you have all heard of that? That is what took me in that direction to see life from a real estate perspective.

My name is William Herron. I come from pretty much a military background. My background has been in logistics, but I’ve always been intrigued by real estate. I came out to Dallas, Texas, a few years ago and relocated my family out here. I bumped into Richard. We lived in the same neighborhood, and he had a subject to the existing mortgage on his car note.

I told him, “Why don’t we put them together and figure this thing out together?” We started working together and Daniel reached out to him. He kept being persistent, bugging me, “Let’s get together.” I told Richard, “This dude is persistent. Let’s check him out.” He came on board, and we all three formed together and figured it out.

We’re in the DFW area. We’re living in the same community, and I was doing some fix and flips at that time with some buy-and-hold strategies doing subject to. Will saw a bandit sign that I had on the side of my car and called me. I was like, “Let’s see what we can do and work together.” He told me that he did some wholesaling in Virginia, and I was like, “Let’s see if we can make it happen here in Dallas.” That’s where we go.

When did this dream team come together and start implementing or putting together a game plan?

In September 2017 is when I met Will and then shortly, I met Richard. Ever since then, we have had our ups and downs. We were figuring it out, but here we are. We figured out everything that we needed. We joined the TTP program, which helped us out as well.

What was your primary marketing channel when you guys first got together?

When Richard and I first started, we were definitely driving for dollars. We were doing a little door-knocking. I don’t believe we were doing any cold calling at that time until Daniel reached out to you all in TTP. He was like, “You got to check them out. Tell Richard I was on the fence about it because I had gotten burned a little bit in the past with some coaching programs.” We do majority rule, and both said, “We got to commit.” We committed and we borrowed the cash from Daniel’s girlfriend. She gave us the money to pay for the program.

We can leverage each other’s minds.

We paid her back. We purchased the program. First off, you pointed us to focus on cold calling and become masters of that. Daniel couldn’t take the bull by the horns because Richard and I were still full-time. He took the bull by the horn and consistently every day. It caught on. We started taking consistent action by doing the same thing, skip tracing and cold calling. That’s when we started seeing the results.

Richard, what were you doing full-time? What was your job?

I was doing IT for a health insurance company.

That was 40 hours a week, like 9:00 to 5:00 type of thing?

It’s 40 hours a week, 9:00 to 5:00, sometimes 60 hours a week, on-call.

William, what were you doing?

I was pretty much the logistics planner. I was a driver manager and worked the 8:00 to 5:00 shift. While we were going through this transition, I shifted over to a logistics planner and did a 7 on, 7 off so that we could focus more on a business.

Do you guys feel that you all came together as a company because you were doing full-time and had so many other responsibilities? There’s a full-time job and you need to rely on each other’s strengths. Did it naturally happen? A question I have a lot is, “So I a partner, or do I not partner? Do I do it by myself or do I partner with people that are better at doing other things?” What was going through you guys’ heads to combine everything?

I initially started by partnering with Richard as I went through a college course. He talked about strategic alliances and how companies like Starbucks and Target will target the same customer. They leverage each other or whatever. When I was thinking about that with Richard, I was like, “He’s subject to.” I was a wholesaler.

I had put a lot of properties on the contracts in 2012, but I’d never completed a deal. I was like, “This guy does subject to. I don’t know about that. We can leverage each other’s minds.” Richard and I were both full-time. We both had kids, spouses, and a lot on our plates. We were poking it with a stick, not being consistent with it. I noticed with Daniel that he was very persistent about partnering with us. He kept bugging me.

WI 315 | Real Estate Wholesaling

Real Estate Wholesaling: We started taking consistent action by doing the same thing, which was just cold calling, skip tracing and cold calling. And that’s when we really started seeing the results.

 

I knew that that was a weakness that we had between us. We needed somebody that was going to keep pushing us. When Daniel came on board, he was 25, young, and ready to take over. I was 35 at that time. Richard was 36, and we had all these things. Daniel was like a physical fitness instructor. He kept pushing us, “On Sunday morning, what are we doing?” It got to the point where all three of us brought something to it, maybe my and Richard’s being in supervisory roles. Daniel came in with that youthful energy, as I like to say. He made us like, “Stay on us. Get up, let’s go, no excuses. I don’t want to hear that.” We all were able to make it off each other.

To add to that, we also leverage each other’s cash. We were pretty on minimal incomes that we could spare. We would come and pitch in the pot every month. Whether we picked up a second job, I did a little Uber and Lyft, and at the same time, I would be out driving for dollars. We would make all the money we had. We were putting in a pot to pay for Mojo Dialer and our skip tracing. We leverage each other’s finances as well.

We’ll get to the success of it, but how about that? Putting whatever you can, doing extra jobs because you are committed to this passion and dream of being a real estate entrepreneur or an entrepreneur itself to master the art of sourcing deals and opportunities. You guys kept going. For everybody out there reading that is thinking that you need a ton of money, you can get a list of properties that are in distress. You can drive around and find those properties. You can get their phone numbers. Go to BatchSkipTracing.com and get those phone numbers. Use TTP as the code because you get it cheaper and you can reach out to people, but keep the passion alive.

These guys have that pilot light inside them that says, “I am not going to quit. It doesn’t matter.” It sounds like Daniel was the glue that kept it together and kept you guys focused. Even though you guys have kids, wives, and full-time jobs, you still have time and passion for being an entrepreneur, which is so American. It feels like, “I want to be my own boss.” It’s incredible. You guys are the living embodiment of that. It’s been incredible. Daniel, you were the one that had the opportunity, at least, in your schedule to make the calls off of that. Is that right?

Yeah.

Tell me about the first call you ever made. Tell me about the first time you ever got and sat there, and you’re like, “I’m going to call a homeowner here.” Let’s talk about the first session.

I don’t think I’ve ever told the guys a story, but I would sit in there. I was frozen. I didn’t know what to say or do pushing that button for Mojo to go. It’s a weight on my shoulder, but I ended up doing it and made many errors or mistakes, but I kept that focus and that hunger. Eventually, the seller said, “Yes, we would go to appointments.” They took us to another level as far as the mindset goes. I was under the impression that you have to call all these people all the time, which is true, but you have to be consistent at it.

One thing, you did know what to say. You had the script. It’s that initial pause that you’re like, “I’m not used to talking to strangers and being rejected. I’m a handsome guy. I’m not used to this.” All of these things that you’re going through mentally. Finally, you get over it and press go. I always say, “As soon as you know it’s time to go, press go and don’t even think about it.”

Some people talk about the five-second rule where you count backward from five and then do whatever it is. That helps a lot of people, but it’s taking action. Nobody will find out your location, drive to you and slap you in the face. It’s a phone conversation that you can get with the technology. With a dialer, you can instantly move on to the next call. It makes it so great.

Richard, let me ask you this. Were you the one that was going on these appointments because you would have the experience sitting knee-to-knee, belly-to-belly, face-to-face with all these homeowners? You’re sitting in the living room and the dining room and have the experience these guys didn’t necessarily have. Was it your sign to bring them along with that? Did you guys all go together? How did that work?

Any list can make you money, as long as you commit to it.

At first, I was going on most of the appointments because I had the time availability and somewhat of a flexible schedule during the day. I can meet more homeowners during the day while Will is at work. I was the person that got the first contract that we did. I was out an hour away. This was a pre-foreclosure deal. We were on a lot of pre-foreclosures before we joined TTP. We got used to going to meeting homeowners doing that.

That’s how Will and I got comfortable having conversations with people face-to-face when we were doing that. Once we joined TTP, we pulled at different lists and the conversations got a lot easier because people were more motivated. They weren’t under the time crunch and upside down in their mortgage the same way in pre-foreclosure situations. There was a better quality of conversation you had that could help people.

Richard, explain to anybody that’s not familiar there and they have never done real estate. What does subject to mean?

Subject to is the existing mortgage. You’re purchasing the property with the existing mortgage already in place. You’re not getting your financing. You’re leveraging the mortgage in place. You’re bringing it up to date generally.

In some cases, you can wholesale these deals, which is interesting. I don’t know if you guys have done that yet, but if there’s enough equity or the loan is seasoned a little bit, it’s maybe on its 10th or 11th year, and it changes a little bit. You’re able to wholesale that deal all over the place. Let’s talk about how you guys started getting into wholesaling these deals, getting some assignment fees, and people that have equity and motivation. They want to sign a contract. They have a problem that you can solve. Let’s talk about some of those first ones.

With Richard, he made a mistake with the list. Instead of calling homeowners, we call landowners. That’s what’s in that direction. In our first deal, we had no idea what we were doing. We didn’t know the size of the lot, what it had to be, the dimensions, the zoning, etc. We’ve got a lot under contract for $3,000. If I’m not mistaken, we put it on the Facebook market for $10,000. It was so simple. It was ridiculous. We couldn’t believe it, but most of our leads and our deals have landed because there are so many landowners and DFW development going on now.

Land is bananas. I’m not going to go there. I’m going to go into a rabbit hole of how great that is. If you’re starting, like these guys, I’m telling you, if you can find vacant landowners, it is so easy because they have no emotion. They either give you a super low price or want ten times what the property value is. There’s nothing in between. It’s easy to determine if it’s a deal or not. They sold it to you at $3,000, and you sold it for $10,000. It’s probably worth $20,000 or $25,000. It’s incredible. You guys started doing that. Let’s talk about a homeowner. Let’s talk about a juicy deal. Give me something that’s bell worthy here.

I’m going to give you a juicy one. It’s bell worthy, but it’s land. We got a piece of land out here in Garland, Texas. It’s growing a lot.

It was an acre. The funny thing is it used to be a dog park.

We had this developer who reached out to us. We had it under contract for $10,000 or $11,000. We put it out there for about $30,000 to $35,000. Offers started coming in. Our asking price is $49,000. One guy said, “I’ll pay $55,000 right now.” We lock him in. We pretty much assigned it to him. It came back to taxes on it. They have some leases. We were in that $21,000 that we had to go towards the seller. All-in-all, in that deal, we made $34,000. That was the first big home run for us. It was out a park grand slam.

WI 315 | Real Estate Wholesaling

Real Estate Wholesaling: We communicate like we’re married, so we talk every day, every second. We really have to understand what we’re doing every day.

 

This property was a dog park and somebody bought it. You called this guy and said, “Would you consider an offer on the land?” Did you call on a different property and he owned this land?

We called him. He wanted it to be gone.

That is a huge key. Look for vacant land in or around the path of progress in your community and look for those with tax liens. If you’re looking for a resource, you can pull those up at TTPdata.com. PropStream powers it, but you could pull up these liens and look at these pieces of land. You called him up. Why did he want to sell it?

Did you talk to him first, Daniel?

I originally called him, and he was saying, “I’ve had this for twenty years. I’m doing nothing with it. I’ll sell it to you. Make me an offer.” At that time, I had no idea what offer would be okay with the land. I looked it up with the city of Garland with what are the taxes and liens. I called him back and told him, “There’s so-and-so amount owed. What are you looking to do with the land?” He’s like, “Honestly. I want to walk away from it.” I met the gentleman and he locked the property up. From then on, the price kept going up and up. One day, we got a $55,000 offer and we made $34,000.

That’s what I’m talking about. I’m talking about getting a phone number of a landowner that has a tax lien, calling them up, and asking them if they consider an offer. How difficult was that conversation, Daniel? When you got on the phone, how hard was it?

It was probably easier than I could imagine. You asked the owner, “Would you be interested in selling your land?” Yes. The next day, there’s $34,000 in your bank account. You can’t beat that. His whole thing was his problem. It was a twenty-year problem that he had stuck with it. He had built up and accumulated taxes. He wanted it to disappear. That was the problem he wanted to solve. He didn’t want a penny. He wanted us to pay back all the liens and back taxes so that he could move on with his life from it. We solved his problem and he was happy, and we were.

You guys kept going because you guys kept closing these deals. Talk to me about your pipeline. Daniel, you’ve gotten to the point where you have grown to not having to make these calls all the time. This is the natural progression. For everybody out there reading, first, you made the calls to yourself. You build up your bank account and your pipeline. You start hiring people to make calls for you. How is it going?

It’s going well. We have two cold callers now. They’re making an average of $5,000 per week. I’m literally out of the equation of making the calls. I oversee the contact rate and track KPIs for the cold callers.

Here’s the thing, and correct me if I’m wrong, at least in your experience. What I’ve seen with business and around the country is typically, you need 2 people to replace 1 of you. You are going to be the best color that there is. You know, in that first 30 seconds after making hundreds and thousands of calls, if that person is going to be a deal or not. You can feel it. It’s in the air. It’s in their tone. It’s in what they’re saying. You feel it in your belly and you don’t necessarily have it. You’re detached from that when you’re not making the calls yourself.

Be willing to sacrifice and do whatever it takes.

You need to get a couple of other people to pay them hourly to make those calls, do that heavy lifting, and send it to you, so you have to sift through it a little bit. You have to build rapport after that on the second call. It’s not the same as you follow it along to an appointment. It’s brilliant that you have two callers. You have the sides of lists because you have two people call them that much. Are they full-time? How many hours a week?

They’re both working 25 hours each.

It’s 50 hours. You need to have big lists. You need a lot of data to go through to get through those lists and they’re fresh and have a good conversation. What do you think is the best list for you guys?

I still have to say driving for dollars. We did also get one landowner. He had six lots in the city of Greenville, Texas. That was a $30,000 deal right there. I don’t think there’s a specific list if someone is reading this. Any list can make you money as long as you commit to it. You have to be committed. If you’re doing driving for dollars, drive for dollars every day. If you’re doing a text link list, grab that every week or whatever you want to make your routine but focus.

What is the dynamic between you three guys now? Do you have separate divisions that you guys are working in? Are you guys all overseeing everything? How does it work so that you guys don’t feel like somebody is doing this and that? That’s more important than this. How do you keep that culture of being connected with each other?

We communicate like we’re married. We talk every day, every second. I’d probably talk to these guys more than my girlfriend. We have to understand what we’re doing every day. What’s needed? What’s an escrow? What’s funding? How are the callers? Are we connecting so we’re getting buyers? It’s not making the calls and getting the leads, but it’s the whole business around it. It helps when there are three people.

I mainly focus on the cold calling aspect. Will focus on growing the business, the brand and attracting other people by going to networking events. Richard is doing the email blast and controlling everything as far as the list goes to make sure that everything is in the funnel. The whole funnel is going in and providing results.

Who sells your deals? Who’s the disposition?

It’s mainly myself and Richard.

You guys both do it. What are you guys doing to build your cash buyer database actively? As you do more deals to go from getting $15,000 a deal to $30,000 a deal, it’s two things. One is strong negotiating on the front end with the distressed property owner, and two, it’s your cash buyer list. If you have people on there who want to live in that property, you have somebody who wants to add it to their portfolio. They pay a lot more than somebody that’s wanting to do a fix and flip. How are you guys actively building your cash buyer database? This is a question that I get a lot.

WI 315 | Real Estate Wholesaling

Real Estate Wholesaling: You really have to understand how many hours are required to get to your result. So really time-blocking understanding what’s needed in order for you to get to your goal.

 

There are various ways, but one thing that’s helped us is Facebook groups. Whatever city you’re in or state to search in, for example, DFW real estate groups. There are always people posting their deals or looking for cash buyers. You can simply direct message them, say, “I got this deal so and so, and add them to your list if you’re interested.” The biggest one is the trading cash buyers list.

You are also calling people like, “I got so-and-so, let’s trade.” It’s ridiculous.

It took us from 100 to 200 to 4,000 or 5,000.

They’re talking about building up your list and you trade with people with a similar size list. It’s like compounding interest. You’re doubling the size of your list every next conversation or relationship. It works out for everybody because buyers are on everybody’s list. There’s no secret society of buyers that one group in town has. That’s not a thing. As we bow on this, talk to the people who have full-time jobs. What is your advice for keeping their dream alive, being real about it, taking action, and building a business?

The biggest thing is time blocking. If you’re working from 9:00 to 5:00, don’t wake up at 8:30. Wake up earlier. You have to understand how many hours are required to get your result. It is time blocking and understanding what’s needed for you to get to your goal.

Get an accountability partner. Accountability partners are good because they will hold you accountable. Somebody can truly hold you accountable for ensuring that you’ve got the tasks that you’re supposed to get done that day. Make sure that you block off time on your calendar and stick to that. Be consistent every day, or else a week goes by and you haven’t done anything in it.

Be willing to sacrifice and do whatever it takes. At some points, my partners would tell you, “I would go an hour lunch break and drive to McDonald’s. I would cold call for 30 minutes and drive back to work. I would do that every day so that we can be consistent.” Even though I was only maybe making 100 calls with the Mojo Dialer, that is the type of stuff that, in my experience, I was willing to do or drive for dollars on my lunch break and do consistently.

Be willing to do work after you get off work or before you go to work on the weekends and understand it is for a short period, conserve your money, and keep your budget costs low, which is what we did. Keep putting the money back into the business to get you to the point where you can leave your job, which I was able to do.

Are you guys all full-time?

I’m full-time. Daniel is full-time, and Richard still works.

WI 315 | Real Estate Wholesaling

Real Estate Wholesaling: Just keep putting the money back to the business so that it can get you to the point where you can leave your job.

 

You guys are right there to get Richard all the way in. What is it, Richard? Are you close?

On September 27, 2022, I’m done.

They got an office space now. This is their first day in it. Their business is building. This is a dream come true. This is truly inspirational. You guys aren’t doing the average day going to work, getting things done, and living that life. You guys could have stayed there and probably had wonderful flourishing careers doing whatever you were doing but you decided that you didn’t want to do that. A lot of people don’t want to do it. You’re an inspiration. That’s an example of showing you can do this. You can do it full-time. You can make a business out of it. From there, it goes bananas.

You can start making serious cash and growing. It’s the best business ever. Thank you, guys, for being a shining example of what you can truly accomplish if you stick to it. If you’re making calls at McDonald’s, driving for dollars on your lunch breaks, or going to appointments an hour away to get deals locked up. You’re making calls from Arkansas. If you’re doing all these things, they’re sacrificing those great things.

In the end, this is all cause and effect. It’s a universal law. If you do that much work, you will get the effect of succeeding, and here are the guys that are doing it. How do people reach out to you guys if they’re in DFW or want to say, “Do you have a job? Do you have some deals?”

You can email OmnisRe@Gmail.com.

I’m glad to have you guys on here. You guys are the best phenomenal. I love it. Thank you so much. For everybody out there, if you’re ready to join the most proactive group in real estate investing, it is the TTP program. Go to www.WholesalingInc.com/TTP, scroll down, and check out what the program is about. Check out the testimonials.

If it feels good in your gut, sign up for a call. You will love it. A couple of resources if you’re looking for skip tracing, that’s BatchSkipTracing.com. Use the coupon code TTP and also TTPdata.com. Check that out if you’re looking to get some liens and pull some awesome lists and pull comps. This has been a phenomenal episode. Thank you so much. I appreciate it. Everybody out there reading, I encourage you to talk to people. Until next time. See you.

 

Important Links

 

About Brent Daniels

Brent 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, and “don’t-wait-around-for-business” attitude to help you CRUSH your wholesaling goals as quickly and easily as possible!

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