Posted on: January 23, 2020

What is the primary ingredient of a very successful and highly lucrative wholesaling business? If you answered a massive and robust cash buyers list, then you’re right!

The importance of a massive cash buyers list is no longer up for debate, which prompts us to ask the question: how should one go about building a huge and solid buyers list? Today’s awesome guest will show you how!

Billy Bell is Brent Daniels’ very own dispositions manager. Brent credits Billy as the rockstar responsible for building his buyers list to around 4, 000 people. Not only that, Billy also single-handedly increased the average of each deal from $12,000 to a whopping $27,000!

If you’re still in the process of building your buyers list, consider listening to this episode a must. You will not only learn how to effectively build your buyers list, you’ll also discover one very crucial skill—how to create healthy tension among your sellers. Truly one of those episodes you can’t afford to miss!

Key Takeaways

  • Six replies you always get when you make cold calls
  • How his first deal went and how much he made from it
  • What the best advice is for those wholesalers who are just starting out
  • The importance of having someone build the buyers list
  • Why it’s crucial to pay attention to how buyers communicate with you
  • The only asset in the wholesaling business
  • How he managed to build a massive buyers list in just a few short weeks
  • His take on working with realtors
  • How he communicates with the buyers on his list
  • Percentage of sellers who opens the emails he sends
  • The process they use
  • What MAO means
  • How people can reach out to him
  • What people need to do first to find buyers
  • How he creates healthy tension
  • His thoughts on doing open houses

RESOURCES:

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Episode Transcription

Brent:
Welcome everybody to the Wholesaling Inc podcast. I am your host, Brent Daniels. And if you have been listening to this podcast over the months, the years that we have been putting this out, you know that we talk a lot about finding and sourcing great wholesale opportunities. Or really just sourcing real estate deals, real estate opportunities. Whether it be wholesale, whether it be fixed and flipped, whether it be to buy and hold for your portfolio. But today we have an absolute special guest, and this is two and a half years in the making to get this guest on here. This is my company’s disposition manager and we’re going to be talking about how to build the most robust cash buyer database on the planet. So it is my absolute pleasure to introduce Billy Bell to the Wholesaling Inc podcast. Billy, welcome, man.

Billy:
Good to finally be here.

Brent:
It’s amazing.

Billy:
Long time overdue.

Brent:
So this is a really interesting thing, guys. Billy used to live here, and we’ll go through your backstory here. But Billy used to live here in Phoenix, and decided about a year and a half ago that you were going to move to San Diego. Right?

Billy:
Yep.

Brent:
So by the way, he sells all of our deals, every disposition deal that we have. He sells out of San Diego. On the beach.

Billy:
Doing it remote from the beach, yeah, exactly.

Brent:
From the beach. Incredible. So you’ve got to tell everybody. So how’d you get into real estate?

Billy:
Got into real estate was work in what I thought was my dream job for a while, but it just didn’t pay what I had dreamt it to pay. So started listening to books and podcasts just like this one, honestly, from my desk job that I had.

Brent:
What was the job?

Billy:
Architecture. I was basically a draftsman at a high end, custom residential architecture firm and it was fun. It was great. But making $29,000 a year with the cap being not much further above that. Just wasn’t enough. And being stuck behind the desk at nine, 10 hours a day, making $14 an hour, it drove me crazy. So I went to a networking event, met a guy that was flipping houses. He’s like, “Hey, you should meet the wholesaler that I buy some of my deals from. He’s doing wholesaling, he’s looking for people, blah, blah, blah”. So I go in and meet this guy on a Saturday back when we were doing Super Saturdays.

Brent:
Super Saturdays. So let’s set the scene for a second. So every Saturday, or every other Saturday, what I would do is basically, to train other people or to try to find good people for the business or just to get free deals, really.

Billy:
Just getting deals.

Brent:
Yeah. I would set up a couple of different Mojo Dialers, and I would be making the calls. People would see me making the calls, hear the conversations. These would be on speaker phone so everybody could hear and just train and understand that when you ask somebody if they would consider an offer on their property, there’s only six responses. If you’ve listened to this podcast, you know that they’re; yes, no, maybe, how much will you give me? How’d you get my number and who are you? So when you call somebody up, if you are going to phone prospect somebody or call a list of distressed property owners, that’s the only six things that you get. And that’s what I was training during that time. And Billy was one of the people that was proactive and wanted to get deals, and came in to just make cold calls. Not getting paid, just for the experience.

Billy:
Yeah, I think you might’ve paid us like 20 bucks to show up or something. Just to get us in the door.

Brent:
Some pizza.

Billy:
Yeah, some pizza maybe like that, something like that. And yeah, he gave us that rundown right there. That was it. And it was; listen to him on a couple of calls and then it was trial by fire. Get on the dialer, just go. And so it was the second or third Saturday-

Brent:
Second.

Billy:
Second Saturday that I went in there and was making my calls were on speaker and he was sitting up the other end of the table. And when they’d come up with something, an objection or something that … I only know yes, no, maybe type stuff. And he’d be writing on a pad like, say this, say this. And so I’d just be looking over him, all nervous, palms sweating. And so yeah, second Saturday had someone who said, “Yeah, I want to sell my house. Come on down, check it out”.

Brent:
And if you remember this, she was an attorney. She was an attorney, she was getting rid, I think it was a probate property or something.

Billy:
No, she was an attorney that worked for the city or something like that. And she was getting transferred. Like Casa Grande took a job there working for the city again or something like that. So she had to just relocate and she’s already halfway moved out of her house. She’s like, “Come on down, and here’s what I want for the property”. And I had no idea what the values were, 160,000 I think it was that we bought it for. And I look at him, and he knows the area. It was a good area. I just look at him 160,000? And he’s like, “Oh, yeah”. But yeah, man, that gets my engine up and running again, just remembering that first deal and just how that felt.

Brent:
Well, that one call, we made 12 grand.

Billy:
Well yeah, that one call and it was a second Saturday, not even eight hours total of calling. And I remember looking back and just doing the math, like, okay, I made 20% or 30% of it, I forget what we made at that time, but it’s four grand. Which was huge to me from what my hourly wage was at my job. And I worked it back and I made a couple thousand dollars per hour or something like that every day, or a couple of hundred.

Brent:
Well, it was literally your second hour, like, true hour of calling, you got that. Because the first Saturday came, you spent about an hour on there, you got some good conversations, whatever. And then the second Saturday came in, second hour-

Billy:
That was life changing money, and I was trying to do wholesaling on my own with a limited budget. I sent out like, 2000 mailers. I had no idea what I was doing, no training. And it went nowhere, of course. But it was that proof of concept and that check for $4,000 that came 30 days later. It was life changing. That was the tipping point.

Brent:
And then that’s when I started trying to pull you in as an acquisition man. So Billy came in, he was one of the only people that actually survived multiple times coming into the Super Saturday. So if you’re out there, and it’s really interesting. If you have a company and you’re looking to hire some people, hire an acquisition manager, hire a disposition manager, hire people in your company. Or you’re at that point where you’re expanding. I think it’s a really, really good idea to put them through the filter of, are these people proactive? Do they have that pilot light inside of them that they actually love real estate? That you have to do it? Like, you had to do it. This wasn’t like you wanted to do it. You wanted to do a little bit of real estate. You wanted to learn how to wholesale. No, it was like a must for you. Like, I must learn this. I must show up. I must do it. And then so you had a good job. You loved where you worked, you loved what you did.

Billy:
It was all good, but I just had my idea, my dreams were just up here. You got to need your dreams. You’ve got to get there. So, yeah.

Brent:
Well, and it’s huge. And I think that it’s a really interesting point because I think a lot of people stop at that little bit of dip that they go through. Where they get really excited, they start taking action, but then a deal falls through. They don’t get it quite, they don’t sell it. They don’t really know what they’re doing with the valuations or with what exit strategy to use or whatever. They’re thinking too much. They go through that dip, and that’s when they stop. Because you went through it. I mean, you put out the mailers, you got a deal, and it didn’t go through. but you kept going.

Billy:
Yeah. That first one didn’t go through. Almost, almost didn’t go through. But yeah, I kept going and so there’s so many people out there that are trying to get started now. And of course you want to own your own business and start your own business and do all of that. But the best advice was to do what I did; is get tied in with a killer, a rock star in your market. And that amount of learning you’ll get, that repetition factor, all of that from someone already has it figured out, go work for them for a year or something like that. Or just as long as it takes, whatever. You’ll learn so much faster than if you’re just trying to all out there on your own scrambling trying to figure it out piece by piece.

Brent:
We met in 2016, that’s when we started doing it, right? It wasn’t ’15, it was ’16. And then you became an acquisition manager. You got out of the job and you did acquisitions.

Billy:
For like, a year and a half.

Brent:
You kind of liked it. Not really. It was good. You learned a lot, you made money, right? But then really, your true talents lie in disposition. And just for everybody out there watching and listening, if you’re listening to this, this is the first time we’re shooting this in the TTP podcast studio. So you got to check this out on Brent Daniels Real Estate on YouTube. So definitely check it all out. It’s going to be good to see faces on this. But you had a talent for having ice water in your veins, which I didn’t. No, I didn’t, remember?

Brent:
I was doing disposition and we were averaging about 12 to 14,000 because I had friends that I would sell the deals to. That was a classic cash buyer employee. I wanted to get the deal done. I didn’t want to cause too much tension. And then you were like, “Hey, let me have a shot at this”. And then it just took off. I mean, you took us, just for everybody to know. Billy took us from 12,000 to 20,000, and then 20,000 to now 27,000 a deal, dispo-ing. So walk us through. How do you do this? What’s your magic?

Billy:
Well, yeah, first off, when we started, I inherited a buyer’s list that was decently strong of maybe 300, 400 from Brent. But we were cash buyer employees and especially when Brent’s doing everything on his own. When you’re trying to do everything on your own, you just want the deal sold. If it’s an easy sale to your buddy and you can move onto the next deal, that’s great. But it’s really important to have someone that can focus on building the buyer’s list and not just taking the easy way out on the cash buyer employees, is really the perfect way to put it. So inheriting that list, I didn’t know any of these buyers. I didn’t know anyone. They were all the same to me. And so I treated them all equal, and basically who would pay more. And you learn that it’s not all about that.

Brent:
This is important. Yeah. Hit on this.

Billy:
After a while, you can kind of judge it, and then that’s how I did. I had no way to know without just doing it. And from starting fresh, I really had to figure out a way. And it was really just paying attention to the way that the buyers communicate with you. That’s the feel to the job. It’s not all about the numbers and all of that. It helps when people offer the most. But if you have some guy that’s offering the most, but being an a-hole, or just not communicating well, efficiently, smart, all of that. Really pay attention to that. You can tell how competent someone is as well. Yeah. So that right there, as you feel them out just in the conversation.

Brent:
Well, I think that the most important thing is; can they get the deal done? That’s number one. Now obviously, if they’re responding to you, they’re not going to respond to you and start this dialogue if they’re nowhere near the price that you’re putting it out at. But, okay, so now you have multiple people that want this deal because we’re in a competitive market. You’ve got people that are pretty close on price with each other. People are all willing to put $5,000 nonrefundable down. So you make the decision on who to select based on the way that they’re communicating.

Billy:
Their communication style and ability, basically.

Brent:
So if you’re listening to this or watching this, and you’re one of those guys that are buying a lot of these deals, take the hint.

Billy:
Yeah. Make it easy and just be professional, straightforward, know your stuff. If you’re going to make an offer, then know that that’s your offer. And be consistent. All of that. And just communicate well. I’ve had guys that wouldn’t just be sure off the bat or be over the top. It’s all a balance.

Brent:
Or some people try to big dog you. Try to pull you in.

Billy:
Yeah. That was a big thing, and especially inheriting it from Brent, all the guys that were buddy-buddy with Brent, and expected us to give them a deal. Six grand, 10 grand under what we should just because they’re buddies or whatever. They try to, “Hey, wait, who are you? Just give me the deal, blah, blah, blah.”

Brent:
And then I’d get the texts. “What’s wrong with this Billy kid? Does he know who I am? All this other things. So I’m out on the other side. But I think that that’s an interesting transition. If you are going from selling your deals to the same people and you’re looking to get more per deal, then you’ve got to go through that transition. You’ve got to go through that fire a little bit that says, “Hey listen guys, I can’t give you these deals at these same prices anymore. I got to make more on these. There’s more meat on this bone if you want them”. And what we found out was; we still sold to the same people, they just paid more.

Billy:
Right? Yeah. And yeah, exactly. That happened a lot. They just got used to the more realistic prices. It’d be one of those things that I’d push the value because I know I could, an extra 5K or whatever. And those guys still wanted the deal because it’s still a good deal. But they would always do, “Hey, let me get the buddy-buddy discount of 5K off” or whatever, something like that. I’d be like, “Hey, I really think I can get this much. I’m pretty sure I can. I’ve got some other interest or whatever. But if it doesn’t work out, it’s yours. Hey, I got you in my back pocket. You’re my buddy, but I got to do what’s best for me”. And they understand that. And if they don’t, then fire them, whatever. We fired a couple of our buyers because they just didn’t understand that, but most of them did. And they knew that we like, “Hey, I got to do what’s best for me. If not, it’s yours, buddy”.

Brent:
And I think that you can have that position if you have enough buyers. If you don’t have enough buyers, you’re kind of stuck.

Billy:
It’s the only asset in this business; is your buyer’s lists.

Brent:
I love that. I love it. It really is.

Billy:
Hold onto your asset.

Brent:
I know it. So here’s the thing. So we went from 300 and you got us up to like, 8,000 in like, six weeks, right? I mean, it was quick. And that was just all really built on you communicating with some guys in town here and trading up the list. I talk about this a lot. Some people get it, some people don’t. Some people are really like, I can’t ask somebody for their buyers list, it’s sacred.

Billy:
Offer some value back. I had helped one of the guys in town when … Because we were the only cold collars back in the day, only people that cold call. I helped a buddy get his operation in cold calling. So it was that, and without expecting anything in return, and this was while I was still cold calling and acquisitions and all of that. When I stepped into dispositions, he’s like, “Hey, here you go. Let me hook you up” and whatever. And then traded with a couple of other people and it’s exponential. When you double your list, say you have 300 buyers, someone else, it doesn’t matter how much they have, they can have 1,000, 10 thousand buyers. Like, “Hey, give me your top 300 and I’ll give you all my 300”, or whatever. Work out a deal like that? Boom, you just doubled your list in one second. And now you have 600, you can go to the next guy. Hey, let me get your top 600. Boom. You have 1200 in literally the same day, you can quadruple your list.

Brent:
Are you listening to this guys? Seriously, there is not some secret master buyer list that one person has, that nobody else has. These buyers are not exclusive to you. They are going out everywhere talking to everybody. So don’t think that somebody is not willing to trade. And no, some people won’t. Some people won’t trade their list, and I totally get it. You were saying it’s a big asset. And some people don’t want to do it because they’ve spent a lot of money building up that asset, which is fine, but find people that are kind of in the area that you are.

Billy:
Go networking, make buddies, work your way in. Offer them something else. Do what it takes. That’s the most important thing.

Brent:
What about realtors?

Billy:
Realtors are tough because they’re slow. They can be great buyers or their clients can be great buyers because they can pay more. However, a lot of their buyers are trying to go conventional and need all that. It’s a good way if it’s a solid realtor that has a solid client or maybe some of them have cash clients, then great, that’s even better. People do have great luck with them. Maybe it’s market specific, I don’t know. I haven’t had the best luck with them because I’ve bought realtor lists or whatever, and blast it out. But they’re just a lot slower. Whereas especially now that I have thousands of buyers on my list, I got a feeding frenzy. I don’t need to wait for a realtor, unfortunately. So that’s my take on realtors. Not saying that they don’t bring value and they can be awesome and they can have buyers that pay a lot more than your cash buyers. Just keep that in mind. If it’s a deal that’s maybe-

Brent:
You’ve got to educate them a little bit.

Billy:
Yeah. That’s the huge key.

Brent:
The process. But what I’ve found, and we’ve sold … Some of the biggest deals that we’ve done together have been to realtors that you educated. They had a cash buyer and it went, but you had to basically do their job for them.

Billy:
Yeah. Because they just don’t know. It’s just a totally different side of the business they’re not used to.

Brent:
Isn’t that crazy? How do realtors not know?

Billy:
It’s part of their business, and it’s the best, easiest, could be the most lucrative niche of it is. I don’t know, it’s just not the standard wide path that everyone takes. So that’s all it is.

Brent:
I interviewed Templeton Walker, who’s done 300 deals in the last two years from realtors. And it’s just referrals because they don’t know what to do with them. I mean, it’s incredible.

Billy:
Yeah. I mean, it’s all, education. It really is building relationships and educating them, and that’s how it goes.

Brent:
Yeah. Okay. So we talked about cash buyers, building the cash buyers, making sure. How do you get it out? How do you communicate? Now, it’s different in every market because when we started out, we were like, we’re going to do text blast everybody. We’re going to email everybody, we’re going to call everybody, we’re going to get it going. What’s your process like now? How big is the buyer database? I don’t even know.

Billy:
So yeah, at one point I had gotten a list of up to like 17,000. I was trying to blast them and then I got flagged for spam so I had to trim it all back and I went through that and that sucks. So don’t just buy lists and blast them, spam them, don’t do that. Build it legit. We have like, 4,000 buyers now, and so that’s been trimmed out of the people that actually [crosstalk 00:19:30] but these open the emails and active buyers and hungry buyers and people that communicate back and forth, actually respond. Open your emails. It’s good to track all that and not just spam again. What was the question?

Brent:
So what do you do? Do you just email them? Do you text them? Do you call them? What’s the process?

Billy:
Right now, I mainly just email him. I started out texting and that was great. That was awesome. But now that I have a list built up to where it is, my buyers are trained. I’m lazy. Maybe I could text them, but I just email them and get deals sold.

Brent:
Right. We saw a big change about a year ago with people not even responding to the texts because they were getting way too many texts from everybody. And it was like quick little text and kind of gave you the info but not really. And it was just kind of a weird way to communicate.

Billy:
I think the authorities have gotten turned on to texting a little bit too. The carriers will flag it as spam if you send out mass, and obviously the people are doing it at huge, ridiculous multitudes, volumes. But I ran into that issue where they just weren’t getting delivered, or they were maybe just getting flooded with texts. So their sponsors dropped from me. So I just went back to, and I didn’t mean to like stop it. I was just like, all right, that’s not working anymore. Let me find maybe a new platform. We were using Skippy. Let me find something else that works.

Billy:
I just never got to it because I didn’t need to because the list had been built up enough. My buyers have been trained enough to just be Johnny on the spot on emails and all of that. I have a website that I’ll do a listing to, and the email will have a link to the website listing where it has all the details and photo album. It’s kind of a little bit redundant to the email blast. I don’t do that every time because it’s a little more time consuming. But on the good deals I do-

Brent:
Because we get good deals! We get the best deals.

Billy:
Yeah. We get good deals and sometimes when you get good deals, you don’t need to go above and beyond and blast it all over the place and try to go everywhere. If you get a good deal, I mean it makes it easy to sell. It makes my job real easy. But the website is nice to have, so you have a presence and it shows the deals you do. It shows that you do good deals. It has a signup form for a new buyer, so it’s easy. “Hey, go to bellrei.com, boom, sign up there. You’re automatically on the list”. And so that streamlines more buyers and kind of gives you a little bit of a reputation if you have that up there.

Brent:
Awesome, yeah. So you’re just mainly emailing? You’ve got 4,000 that are solid people, do you know about how many people percentage open them?

Billy:
Yeah, anywhere between like, 23 on the low end to like 31% opening.

Brent:
That’s crazy. That’s crazy.

Billy:
Yeah, that’s pretty good.

Brent:
That’s a solid list. But you trimmed it back because you were looking at people that had never opened emails or never … You know what I mean? And you got rid of all those people. And then so just to explain the relationship for everybody listening and watching between Billy and myself, and the company is; when we get a lead … So we cold call or we text blast, and we get a lead in. And then it goes into our InvestorFuse [Podio 00:22:32] . And then once it gets the acquisition managers, we’ll follow up with it to the point where they need to get a price or they have a price. And then they send it to you, right? They put a task for you, you look at it, you comp it, you make sure that we’re not crazy. You give them a price and then that’s what we go after. So that’s the process that we use. So Billy’s day truly is a lot of comping-

Billy:
Transaction coordination. Selling. But a lot of it, probably, time is probably 60% comping, I would say.

Brent:
And you’re a master in Maricopa County, of knowing what things will sell for, and here’s the thing. The acquisition managers truly get a little bit frustrated because Billy loves huge deals. Billy loves huge deals, so he’s always going to anchor super low. So it’s always a little bit of a balancing act, knowing what we can offer and what truly is the MAO; the max allowable offer. But you always anchor low so that we get really big deals. But just to let you guys know, listen, Billy is … If you are in the Phoenix area and you need some help, either comping your properties or selling them, people can reach out to you, right?

Billy:
Yeah. Yeah.

Brent:
This is not an exclusive relationship. Billy is a business in himself. But we were working together. We’ve been working together really, really, really strongly over the last three years. But you’ve got the opportunity and you can sell properties, and you’re ready to sell properties.

Billy:
I do it all the time, yeah.

Brent:
And you work with a lot of the TTP family members that are in Phoenix.

Billy:
It’s awesome. Yeah. I regularly wholesale for about five guys in the Phoenix market, whether they’re TTP family members, previous acquisitions managers that have started their own business and are killing it. I love it. And they’re doing consistent deals. Shout out to Natasha.

Brent:
Yeah. Problem with my business is; they come into my business and then they … I hire superstars. So they-

Billy:
Yeah. And your twin sister, Allie too, sometimes.

Brent:
Yeah. Superstars go out and do their thing. Entrepreneurs at heart, which is outstanding. And that goes to anybody that’s like, well I’m going to have my people sign our business prenup, which is like a noncompete. Come on, come on. It’s silly, right? I mean there’s just no reason. If you want to have really great people in your company and in your culture of your business, then let’s not set off the relationship with a little bit of negativity and a little bit of scarcity. Let’s go with abundance, and let’s collaborate. Not compete. So yeah, how can people reach out to you if they want to work with you here in Phoenix, or just ask you about disposition? Because there’s going to be a lot of people that maybe have some other questions.

Billy:
Yeah, my email is Billy at bellrei.com. You can hit me up there. My website is bellrei.com if you want to check that out, kind of see some of the deals and how our listings look, and how that’s styled out. The buyer signup, all of that’s there. It’s pretty cool. But yeah, hit me up on just on my email. Send me some deals. Let’s sell some deals together. It would be really fun. I love working with new guys because there’s a lot of big guys in town that will sell deals and dispo and all of that. But I don’t know, I love working with new guys and adding onto a little bit of the coaching on the other side of the business that isn’t coached on as much, at least as openly, and all of that. And walking them through and get them getting them set up and-

Brent:
Well, I think the toughest thing with people starting out is; is this a deal or not a deal? And then how big of a deal is it? So people can reach out to people like you, even if they’re in different markets, they can reach out to people that maybe are similar to you in those other markets that know those markets and really get a huge benefit from it. I always say find somebody that’s just killing it in your market, or doing well, and wants to split deals with you, do deals with you. We’re deal junkies. We’re always going to be wanting to do more. And that’s common around the whole country. So reach out to somebody that’s doing a ton of business, and bring the deals to them so that you know is this a deal or not a deal? Listen, nothing that Billy makes from any of these relationships goes to me. This is all to Billy, and the relationship between him and anybody here in town that wants to work with him.

Billy:
The abundance master right here.

Brent:
Well, it’s just, it’s your business. You’ve really grown that. You’ve made it, you took it from 300 to 4,000, really solid. You took it from 12,000 to 27,000. I literally dispo’d millions of dollars in just two years, two and a half years. I mean, it’s been incredible. But you do this all from the beach. You don’t even live in Phoenix. You live in San Diego. You live in paradise.

Billy:
People chip out when I tell them that, and all that we do, especially on the dispo side, is all over phone and email anyways. What do I need? I don’t need to go to the properties. I could go to the properties if I had to, and maybe do a buyer open house, but the guys that I work with, whether it’s your students that I’m selling deals for, whoever. We have trust, we build trust and I’ll send them to the … If they have to let a buyer in or whatever, and it’s just yeah. I don’t need to be there. Technology’s amazing.

Brent:
Well it is, and it’s all TTP.

Billy:
Yeah, it’s all TTP.

Brent:
Yeah, it’s all it is. So let’s look at this. So let’s speak now to anybody listening or watching. That is, they have no buyers. They’re passionate. They’re out there, they’re talking to sellers, they’re getting some referrals from friends and family, but they don’t know who to sell these to. Give me a step-by-step real quick on what they need to do right now. How do they find buyers?

Billy:
Okay, number one, get a good deal.

Brent:
I love that answer.

Billy:
That’s it.

Brent:
I love it.

Billy:
That’s the start of everything. Get a good deal, the buyers will flock. And if you have no buyers, you kind of got to do it all. You got to go to your meetups and meet face to face and get a good buyer you can trust. And maybe you have to be a cash buyer employee to that one or a couple that are solid people at first, until you can get a little more money. And then start other campaigns of whether you have a good relationship with your title company can be a huge asset. They can give you a list or pool a list of cash buyers in your area, and then you can call them or have your VA call them. And then you can get some solid buyers right now. Especially if you talk to them and not just buy a list or sign up for a list or something like that. You can put your deals on Facebook and Craigslist. You get a lot of tire kickers there, but same thing, vet them out. Give them a call and vet them out.

Brent:
Get them on the phone.

Billy:
Get them on the phone, have someone talk to them on your team, or you talk to them. Don’t put the address on Facebook. Don’t put all the details, maybe crossroads. Same thing with Craigslist because you’ll get people knocking on the doors trying to snake your deal. Or just people that don’t know and it’ll throw your sellers off. So don’t do that. But it also makes the people that see it actually inquire what’s the address, and then they can have a list of people that inquired. So if someone does show up, you can at least narrow it down to the people that you gave the address to, gave the lockbox code to or whatever. And then it starts a dialogue of, okay, yeah, you can feel them out, have a conversation, see if they’re legit. That right there, I mean, that’s it.

Brent:
And build, and build, and build, and build and trade. And trade it up. Yeah. I love it. I love it. And before we wrap this up, I think your superpower is keeping a healthy tension between our deals and the cash buyers. They respect you. They know that they can’t run you over. They know that you’re not a pushover, but they also like you. How do you do it?

Billy:
As fair as I can. I mean, a lot of people think that, from time to time, if you got two people calling at once, then you like this guy better than me or why’d you pick him or whatever. It’s the same price. Every once in a while, you’ll get yourself into a pickle where the deal is so hot, you just got people blowing you up and you’re not going to like this. A lot of people are not going to like this, but I don’t put my phone number in the email because it gives me time to just let people reply and see what’s coming in. So a lot of people are going to hate me for that. And a lot of people already do. But reply to the email, I’ll sit back and let the replies come in for a little bit and then go through.

Billy:
And then also, another thing that’s great is that now I have a searchable index of all the people that were interested in that deal. Because I can search by that email. If I get 20 phone calls within 30 minutes, I can’t keep track of all that. And this guy, “Oh, but I want to talk to [crosstalk 00:31:02].

Brent:
That’s really interesting, yeah.

Billy:
But the next guy on the phone, or the guy that I answered first is offering full price so I have to take it, and he’s my buddy and all that. And the next guy that’s calling is offering 5K, or I could be offering 5K more. It’s hectic, and it’s not necessary.

Brent:
Well, and I think also, and we’ve dealt with this before, people that back out or want to try to back out at the last minute, or don’t deposit their earnest money in 24 hours. Now you’ve got a catalog of people you can go back to and be like, “Hey, this deal is still available. Do you want it?” And that’s how we usually resell it, if people don’t perform with the earnest money. Or if they start getting a little bit chippy towards the end of it. This happened in Flagstaff the other day. Somebody wanted to get a price reduction of like $30,000.

Billy:
Day before closing.

Brent:
Day before closing. And you’re like, “No, we’ll take your earnest money”. We’ll just close on this ourselves. We don’t care. We’ve got other people.

Billy:
Yeah. He tried to get an appraisal or he did get an appraisal for it. It’s like, this is wholesale. It doesn’t fly. But okay, so you did an appraise for it? You’re 25K short. That’s not going to happen. And so we ended up taking 3K off just to get the deal done the next day. And it was easy.

Brent:
So you think your healthy tension is built up from being able to sit back and see what the responses are, and not getting blown up with your texts and calls?

Billy:
Yeah.

Brent:
And some of the people that already know you get the emails, they’re probably still texting and calling you.

Billy:
Yeah, for sure. But I’ll let him say it or … And a lot of times, it’s right off the bat like, it’s obvious the interest. I can gauge the interest right away, and I’m not having to just answer the call and give it to the first guy that calls. And a lot of times, if it’s that easy just to call you, “Hey, I’ll take it. Okay”. And then they don’t come through with the earnest money or whatever. It just gives you time to, again, communicate with them back and forth. It’s not just a, “Hey quick, I’ll take it”. It gives you that chance to feel them out and if they are legit or not.

Brent:
Let me put you on the spot with something, and it’s something that we don’t do. Maybe we should do, but let me get your thoughts on it. Lot of people talk about doing open houses, doing get everybody there at the same time, get the thing bid up, and sell the properties that way. What’s your thoughts?

Billy:
I think I have a strong enough list now that it’s not necessary. I don’t have to blast it out. Be here at this time. I have the open house in my inbox, in a way.

Brent:
It’s crazy. Guys, percentage wise, how many people put their earnest money in sight unseen on these properties?

Billy:
Most?

Brent:
90%?

Billy:
Yeah. And that’s kind of a Phoenix thing as well, soΩ that can be market specific. But that’s that healthy tension. It’s being honest to your buyers. So our acquisitions managers, they go take photos of … They’ve been in the properties, they know if there’s a hole through the ceiling or whatever.

Brent:
Take a ton of pictures.

Billy:
So we tell and we get the big ticket items here in Arizona or … Houses are simple. The big ticket items are roof and AC, there’s not a whole lot of-

Brent:
Pool equipment.

Billy:
Pool is another big ticket item. So I try to get that upfront. Those are going to be the things that can sway a deal left or right. So we try to get as much of that big stuff out of the way upfront. Communicate that in our blast. And I underwrite them knowing that, or at least having a good idea or best idea possible with that. So we know that from the beginning, and yeah, I have an open house in the inbox more or less. On a good deal. If it’s a tighter deal and you’re really trying to do it, then you can say open house. And a lot of times you can get it on the spot. But when I have people lining up in the inbox, it’s just, “Hey, I’ve got a lot of interest on this. We’re going to make a decision at the end of the day. Let me know your best”. that’s the other thing, is; I don’t like bidding wars back and forth, and playing guys against each other. I don’t like that. If I do have a lot of interests where I could start a bidding war, I’ll just be like, “Hey, we got a lot of interest. 5:00 PM we’re making a decision, just let me know your best”.

Brent:
Love it. Love it! Dude, you’re the best. And I don’t get him in here because he lives in San Diego and he never wants to come to Phoenix except for when it gets a little bit cooler outside.

Billy:
Finally cooled down here.

Brent:
Finally cool down here.

Billy:
So I’m coming to town.

Brent:
This is awesome man. Well, so much value. So again, billy@bellrei.com if you want to reach out to him, if you have some questions about building up your cash buyer database. And especially if you are living here and working here in Phoenix, if you need some help comping properties or dispo-ing your properties, this is the guy so-

Billy:
Yeah, you get a hot lead. I love comping, so if you get a hot lead that you’re setting up an appointment or whatever, send it over. I’ll help you out. We’ll get it locked in at the right price so we know we can make a big rip on.

Brent:
Love it. Billy started out TTP. He started out making cold calls. He started out phone prospecting, and built his business off of the platform of constantly communicating with people. Now he’s at a point now where people are just … He can sit back, look at everything, keep healthy tension, and get us the biggest and best deals. So if you’re interested in taking your business to the next level, go to WholesalingInc.com/TTP. That’s WholesalingInc.com/TTP. Check out what the program’s about. Check out all of the testimonials. It’s absolutely bananas. And yeah, that’s it.

Billy:
Awesome. That was fun.

Brent:
Love that you’re here, man.

Billy:
Let’s do it again.

Brent:
Yeah. All right guys, until next time, you guys are the best, and I encourage you guys all to talk to people. Love you, see you.

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