Posted on: March 03, 2020
WI 375 | Partnerships

 

Ever wondered how powerful working with a partner can be? Today’s rockstar rhinos joined forces and earned a staggering $3,000,000 in just 18 short months!

Prince Partridge and Donovan Ruffin are young, passionate, and dedicated rhinos from Dallas, Texas. While they were both successful in each of their fields (Prince as a wholesaler and Donovan as a real estate investor), together, they became unstoppable.

In today’s episode, they shared how they make things work as a team, how they were able to successfully scale their business (they’re now operating in 7 markets!), and what their wholesaling journey has been like so far. In addition, Prince and Donovan also candidly shared many of the invaluable wisdom and insights they’ve learned along the way. If you’re working with a partner or thinking about working with one, consider listening to this episode a must!

$3,000,000 In 14 Months! With Prince Partridge And Donovan Ruffin

Episode Transcription

You guys found a wholesaling show. Do you know how crazy of a person you are to be reading a wholesaling show? Do you know that the general population of America has no idea what wholesaling real estate is about? Do you know that 99% of real estate agents in the United States don’t know what wholesaling is about? You are the elite of the elite if you are reading this, only if you are taking action on the instruction that you’re learning from these interviews. In these interviews, we go around the country. We get some people who have done their first deal and some absolute superstars who have million-dollar businesses.

I am so thrilled because I’ve got two guys based out of Dallas, Texas, that are now in seven markets and have been doing it for a couple of years, not for decades. These are young gentlemen. These are young guns. These are young hustlers out there that have grown their business. They’ve been so dedicated, so passionate, so laser-focused on being successful and building a million-dollar, almost multimillion-dollar wholesale business. It is my pleasure to introduce Prince Patridge and Donovan Ruffin to Wholesaling, Inc. show.

What’s up?

Welcome. I’m excited. I’ve given you folks a big runway here to explain. Break down the last 24 months for me in your life. Will you, please?

My name is Prince. I met Brent through YouTube, honestly. I listened to some of his podcasts when he was first starting out. In 2017, I bought his course. I started implementing it in my own business and I’ve seen some success with his scripts and what he was doing. I liked it. About six months down the line, I met up with my friend Donnie. We got to talking and made me an offer on my company that I couldn’t refuse. We did a merger and I brought the TTP course with me.

Donovan, how about you? Tell me about you.

Prince is the one that got me started years ago and sent me an $18,000 check. I was like, “I don’t care what I have to do. You’re going to teach me how to do this.” I got my first deal. It was like $4,000 and then it was downhill from there like pop the cherry. He’s like, “You know how to do it.” I did 5 or 6 wholesale deals and then I was more interested in the fix and flip concepts. I started partnering with some of the investors I would sell to and did deals like that. I took off with it. I started raising a bunch of private money. I had a couple of million dollars in private money.

My main focus was buying deals from other wholesalers. It got to a point where my business was plateauing a little bit because I was focused on networking and relying on other people to bring me deals. I wanted it to scale and grow even more. On top of that, I was paying a bunch of money in assignments in 2017. I spent over $1 million in assignments to other wholesalers, which is crazy. I didn’t find the deals and stuff like that, so I didn’t mind it.

I got to thinking. I was like, “What if I spent that $1 million that year in marketing? What would happen?” That’s the approach I did and took the leap of faith. I had another marketing company at the time. I shut that down completely for conflict of interest reasons and went full-fledged, 100% real estate. I focused on wholesaling mostly for 10-12 months before I started picking up more rehabs and rentals and stuff like that. We’ve done well over $3 million in assignment fees and profit in the past months and created that conveyor belt of the properties that we can pick and choose from.

We can buy it as a fix and flip. Buy them as rentals, as the development projects. Now, I have a few rentals. I’m working on a couple of fix and flips. I’m working on a development project where I’m building 26 houses in Fort Worth. It’s one of the deals that we picked up from some of the marketing strategies in our office. It’s been an amazing journey. We have a lot of room for improvement, to grow and to scale even more, but it’s exciting. It’s a very thrilling opportunity to be a part of when you, like you said, take action and start working the business.

Prince, I remember you came into Phoenix. He came to my house. Spend some time. You were getting this thing going. You were getting off the ground. It’s late 2017. You were a sponge. You were soaking up everything. You were so serious about it. You flew into town on your own dime. You were scratching and clawing and getting deals here and there. All of a sudden, you went back and it exploded. Is this about the time that you and Donovan formed this partnership?

Yes.

It was a pretty funny story. He’ll tell you his side. I’ll tell you my side.

WI 375 | Partnerships

Partnerships: I love filtering lists and properties based on the age of the property. The older it is, the more love it needs.

 

Probably after that, I ran it for about 3 to 5 months. About month six, that’s when the merger happened.

To be honest, Prince didn’t want to put me until the cold calling and the virtual stuff. Me and Prince have a good relationship. He was like, “I’ll sell you some rehabs.” It’s like, “Cool. Block up as many deals as you want, so I can buy them.” We always had a good relationship on the business. It got to a point where I figured out the virtual stuff, learned some of that and ran laps with it. I had three acquisitions. We were doing about 120 to 150 a month when we first merged. Prince was doing 50 to 60 by himself. I was like, “You have certain values that I don’t have. I have certain values that you don’t have.” We connected in a way we were able to put each other in certain seats.

I’m like the driver. He’s like the listener and the strategic standpoint and the learner and the absorber, the networker and stuff like that. I’m more of like motivator and visionary and stuff like that, a CEO and it works. I bought him out and within a month and a half, two months, we were cranking out $300,000 back to back. It’s been nuts.

Do you know how crazy that sounds? $300,000 a month. Prince, talk to me. Let’s go back because there are not a lot of people with that personal experience who can relate to that. Talk to me about when you started. How did you get to $60,000 a month? What did you do? What did your business look like pre-merger?

Before then, when we had talked. You gave me some advice on what your business looked like. You said you were using American callers. We tried it out. We ran into some of the things that you had discussed. Sometimes, it’s like a stepping stone for them. Honestly, I couldn’t keep American callers on the phone. We started seeing that. We started getting Filipinos and we noticed they’re not the best, but they do work. They keep working. They show up. They don’t call out sick. They don’t complain or anything like that. They kept on submitting over leads. The guys that I had at the time, we were shooting them low ball offers. I was shocked. People were taking them. That’s where the transition was after I left AZ.

Here’s the key to what he’s saying here. The foreign callers work. They can work. Now, there are a couple of things. I’m going to put a couple of filters in there. One filter is you need a lot of them. You need horsepower. You’re not snipping. This is full-on like a bazooka machine gun had a baby type of thing. It’s like this is a flame thrower. You need a lot, which means you have to have a lot of data. You have to have a lot of phone numbers and a lot of addresses that you’re going after.

If you’re thinking, “All I’ve got to do is turn on somebody that’s $4 or $5 or $6 an hour in the Philippines and give them 40 hours a week,” and think that’s going to build you into a $60,000 or $20,000 or $50,000 a month, it’s not going to happen. I’m telling you. I have more people coming to me that have tried this and failed than anything else in my TTP program, for sure. What he’s saying is, let’s go to the foundation of that.

Prince decided early on, “I’m not going to wait around. I’m not going to spend money on marketing. I’m not going to be putting all this money into traditional marketing. I’m going to be proactive. That’s who I am. That’s how I’m going to do it. I’m going to go out. I’m going to reach out to these distressed property owners and have those great quality conversations.” That’s the whole business.

The only conversation’s with distressed property owners. That’s the entire business. You went out there and you kept feeding it to the point where now you’re closing consistent deals. You have attracted the attention of Mr. Donovan here, who’s like, “I’m tired of paying you on every single deal. Why don’t I bring you over? We’ll combine forces and build a super team?” Is that right? What does your team look like now?

Now, we have quite a bit of cold callers. We used to have a lot. We used to have 60 Asians, then we cut back a lot.

Did you skip trace the whole country?

Pretty much. It got pretty crazy. We scaled back on the Asians, so we have 25 Asians now. We have 32 in total and the rest are in America. As far as our sales team, we have about twelve guys in the office. We have two transaction coordinators. We have two people in dispositions and seven acquisitions. One of the things, too, was that a bunch of mistakes was made. We didn’t land here. We scaled back a lot because our net profit is a lot larger with sharper guys in the office. I kid you not, in June or July. We had 22 acquisitions in the office. These people were working.

You had 22 acquisition managers?

Surround yourself with people that are winning. It helps elevate yourself and them too.

Yes. It was crazy. Now, the net profitability is higher. Our acquisition guys are sharper because they’re making more money instead of it being spread out between so many acquisitions. It’s only within a few of them. They’re able to work more leads, have more consistency, etc. It’s a lot better quality of life and less stress.

Are you guys in an office? Does everybody come in?

Yes, we have a 7,000-square-foot office in North Dallas.

Do you ever do any meetups or any boot camps or anything? Do you ever let people in and get access?

To be honest with you, we were super opposed to it for a long time because we wanted to focus on getting the system running, so we had that track record. We could genuinely and ethically teach other people more like the education space. We’re opening up a few seats a couple of times a month, as far as an intensive for one day. Folks are able to fly in. We’re able to sit down with them. They’re able to open up their business and we can see what it looks like. They’re physically working in the office. They can see our atmosphere and how it works. We’re showing them everything as far as our blueprint. It’s a little bit different of a product as far as the education space. It’s a little bit different than an event because we’re working.

This is intimate. This is smaller. This is more one-on-one.

It’s a little cheaper than an actual mentorship program because it’s that one day.

If people are interested to find out more. How do they find out?

You can shoot me a DM on Instagram, @TheDonovanRuffin.

Reach out if you guys are interested in that but let’s get back. Give me a typical deal, Prince. Why don’t you do me a favor? I want to ring this bell on a big deal. I want to ring this beautiful victory bell on a good deal. I want you to give me start to finish. What list, a phone call, prospect? Was it an American? Was it a Filipino? Was it somebody that made these calls? What was their situation?

I know that you folks are top-level. I get it. I know that you’re not going to all the intimate details like what color shoes the seller was wearing during the appointment but give me one that we can break down so that we can get the nitty-gritty on something and give some value to everybody listening on something that’s that specific. Do you folks have one that makes sense?

We’re referring to Podio. Let me filter it through.

Prince, are you in charge of hiring?

WI 375 | Partnerships

Partnerships: If you take five years and really go, you could change the financial future for your entire life and your family’s.

 

Yes. I run the database.

What do you look for in an acquisition manager?

Honestly, lately, when I have them run the DISC test, I’ve been looking for the ones with higher red personalities. Greens and yellows are cool. If they’re half and half with blue or yellow is cool. The ones that are high red or have a little bit over 50% red, tf you’ve got a majority of red, I want you in the office. I tend to find out that those guys are aggressive. They’re not afraid to shoot low. They’re not afraid to follow up. They’re not afraid to be that car salesman, if you will.

Let me ask you this. My experience with high D’s come out of the gate. You don’t have to train them too much. They’ve got the natural instincts. They’ve got it. They’re born with it. That’s who they are. They’re going to go. They’re going to pound phones until they pass out. The toughest part that I’ve seen with high D’s is keeping them around because a lot of these folks keep crushing and, all of a sudden, “I can do this business myself.” Have you run into that?

To be honest, dealing with our super high D’s, we don’t run into an issue with it for a number of reasons. The biggest one is Prince came from his own company to our company. He can tell you firsthand, “Running your own business is a lot different than being on acquisitions and having one task.” Our top acquisition can tell you, “Regardless of anything, it’s a lot easier.” He’s able to do what he does best as far as closing, not having to worry about any risk. It’s more so the fact of being able to provide that value back to the rep versus the value that they’re able to bring you.

As far as them falling off and stuff like that, we have a non-disclose clause in our agreement. It’s pretty fair, honestly, because we’re literally giving them access to millions of dollars worth of data as far as our marketing expenses and stuff like that, that they have access to. The noncompete is in place when we first hire individuals. We’re pretty upfront with them, initially.

It’s like, “If you agree to come work with us, you’ve got to understand you can’t wholesale for two years past termination, but you can still buy rentals. You can still buy fix and flips. You don’t have to come work with us, but if that’s what you’re looking for or you’re looking for a part-time paid mentorship. This isn’t what you’re looking for.”

It filters out the people that are coming in to learn some stuff and dip out. We were able to work with and partner with individuals who want to come in and see our vision and want to grow with us without worrying about that risk or going off and starting their own thing.

I make this similarity. The people that are great at closing deals. They get the contract signed. They’re making great money. They don’t have to worry about all the overhead. They’re highly paid professionals. Do you know who else is? LeBron. LeBron is a highly paid professional. He doesn’t own the Lakers. The guy that owns the Lakers has a whole other set of issues that he has to deal with, but LeBron only has to be a superstar. He’s going to be rewarded for that.

There are certain people that should stay superstars and should not be business owners. They’ll be happier, richer. Their schedule will be a lot different. That’s the conversation that I would have with anybody that’s a killer acquisition manager that’s thinking, “I can do this for myself.” You’ve got to ask them that question. Are you going to be this or are you going to be that? Are you going to be LeBron or the owner of the Lakers? You can’t be both. Maybe he will be both. He won’t be playing. Anyway, let’s get back to it. Talk to me about a deal.

I’ve got one pulled up. This one was in Arlington, Texas. This one originally came from an RVM. How our RVMs are filtered is we blast the RVMs out. The return call goes to the BAs and they answer it.

What does RVM mean?

Ringless Voice Mail. It’s gray areas in some states. Go with your attorney, but we do it pretty heavily. It came in. Lead came in and Antonio, one of our acquisition guys. He’s probably going to clear close to $300,000 in commissions, which is amazing. One of those things like how many people out there can go out there and even start their own business and make $300,000 in a month?

Anytime you’re going to make more money, it comes with more responsibilities and tasks. It takes work.

The top 1% in the world makes $400,000 a year.

It’s all net. No overhead, so it’s good. We made $90,000 on this deal. He closed it over the phone within two hours on that first initial phone call.

Donnie, $90,000. It’s an RVM, which is a voicemail that hits somebody’s voicemail box. What list was it? Do you know?

I can pull it up. This one was a duplex list, absentee and 100% equity.

What Donovan said is so important. I love filtering lists and properties based on the age of the property. The older it is, the more love it needs. If these people have owned an older property and don’t have the financial resources or they don’t want to fix it up, they have to sell it for cash. Sometimes, they want to get rid of it, it sounds like, because he made $90,000 on a deal.

There were multiple motivators on that one.

What else?

Tax default, absentee, 100% equity, old age. That didn’t pop up on the statistics, but when you stack the list within those four filters, that’s what you’re looking at. I was like, “Which one do you want me to go over?” I haven’t been on the phone with the seller in about a year and a half. That was Antonio’s doing. He’s a monster beast acquisition guy, doing what he does best. I have my own seat. Prince has his own seat and the team flows. It flows good. Super blessed.

How much have you done?

We did a little over $3 million in assignments. This isn’t rentals, development or fix and flips.

That’s in seven markets, right? I’ve got it written. What markets are you folks in?

We’re in all of Texas. All the major metroplexes, Dallas, Fort Worth. We call those two different metroplexes. By the way, Houston is awesome. San Antonio, Austin, and we’re in Tampa, Vegas, and Los Angeles now. We did a little bit of Atlanta. We couldn’t figure it out there. Super ratchet. There were a lot of scams and it was a waste of time for us, but we’re constantly open and figuring out which market we’re going to open next. It’s exciting.

Is that the plan to do more markets?

WI 375 | Partnerships

Partnerships: You need to start investing actual money into equity, buying an actual property. You need to start investing in education even, investing in your mind.

 

Yes. in 2020, we’ll probably be in about twenty markets.

Are you going to run it all based out of Dallas?

Goals never change but plans always change. As far as now, I think we can build it out of this office. I used to run a sales company for a lot of years. Sometimes, it made sense to have a different office in certain markets. We gave it some thought. We might try it out a little bit come early Q2, have a different office and have a different culture. It’s a little bit easier to manage people and it gives other people and leaders the opportunity to grow in business as well, so you can grow. Get an override on a team. You’re running and operating a business within a business, so they have that growth potential, something for new people to look forward to.

What is your daily schedule look like now as the CEO and the COO? What does that look like? What are you folks doing all day? You folks aren’t taking the calls. You folks aren’t going on the appointments. What are you guys doing?

There’s a lot that goes into the business. I’m sure you folks out there have closed deals. It’s so much work to get one deal done. Imagine 20 to 25 deals a month consistently. There are fires all day, for one. We have scheduled time to put out fires and deal with team meetings. A lot of what I do is recruiting, branding and market research. He does a lot of that. A lot of visionary stuff.

There’s a lot of time that I spend by myself, alone, with no phone, with nothing and sitting there thinking. It’s a real thing. Sometimes you have to sit back and picture out what you’re going to do. I spent a lot of time meditating. Maybe an hour a day. It’s not a lot. Read a little bit, then talking with the team. I do some one-on-ones throughout the day. Training.

I work with leaders in the company. We have the entry-level people, then we have people that have been here a while and leaders and managers. I would say 80% of my time is spent with the managers of each division in our company and making sure that their training is on point. Make sure that they’re doing the right things, updates and ways to attack, ways to improve, ways to cut out bad habits within their organization or division, etc. There’s a lot of work as far as CEO.

Obviously, bringing in new income for the company. I have other projects as well. I have fix and flip projects, rehab projects and development project, which requires time. To be honest with you, a majority of my time is either spent with the leaders or spent developing systems where I don’t physically have to do something ever again. If I do something once, it’s like I can set up a system for this so I can move on to the next task and focus on what makes actual money versus doing miscellaneous stuff and paperwork. It’s what I do with my day.

Prince?

I’m trying to pull up my list now. I have a task sheet.

To be honest, I’m super blessed to be in my position. I’ve built the company to live a lifestyle. I take advantage of it. I travel a lot. I network a lot. I do a lot of masterminding with people. Networking around the country. Not only in my own market, so that requires time. For a few weeks in a row, I was gone every weekend Masterminding with folks winning in other markets. Figuring out what they’re doing that’s winning and implementing it in my business.

Being around that winning culture is also very important. It’s not like I’m partying and kicking it with friends. It’s mostly I’m masterminding. I’m surrounding myself with people that are winning around the country and it helps elevate me and I help elevate them, too. It’s a win-win for everybody. I spend a lot of time traveling as well.

My task is long. I don’t know if you want all of it.

Scrape up the money to buy education, then implement the education.

Give me the overview.

I got PKs managing, human resources, client care, business development, acquisition department, overseeing and make sure that department is pushing their numbers. Disposition Department, making sure their numbers are up to date, day-to-day operation management, marketing process development. It’s a long list.

I love it. Let me ask you this and you folks should be honest here or you will be honest. I get it, but how stressful is this? How stressful is running a $3 million business?

I have gray hair. It’s pretty stressful.

For me, when Donnie and I got to talking, at first, honestly, I came in. I was like, “I only want three jobs.” I came here and I ended up getting 30. In my personal opinion, it’s less stressful now because I have more resources and more help versus about six people that I had.

I think it’s interesting. I always think in my head when it comes to a lot of activity, a lot of work, a lot of stress, it’s that whole thing of suffering now, be a champion forever. The whole Muhammad Ali deal, it’s on our wall. It’s interesting because I truly believe if you take five years, maybe three years but probably five and go. You could potentially change the financial future for your entire life, your entire family, and your entire extended family. Depending on if the right circumstances hit and your net. You keep as much money as you can and you’re smart with it. You invest in assets and buy off and pay off debt and all these other things.

All of a sudden, after this grind, you’re still a young man. You’ve got all this knowledge, contacts, connections and then you did something that somebody else was not willing to do, which was put in all of that time, have all that stress, have all that grind for so long and be consistent with it. Now, you’re a different person. You’ve evolved into an unbelievably financially free person. That’s a rare person and it’s beautiful. It’s exciting.

I think that’s a topic that a lot of people don’t spend a lot of time expressing. If anybody told you that this was going to be easy, it’s not. It’s not easy. Any time you’re going to make more money, it comes with more responsibilities and more tasks. It takes work. I have the saying in my office. It’s like, “You can work 40 hours a week for 50 years of your life or work 80 hours a week for 25 years and get it done twice as fast.”

The amount of time that you put in if you evaluate your time by the hour. It’s like, why not continue to work when you’re not going to work at all? Being proactive with that time is also important versus showing up to work and moving desks around on your paper. On top of that, being smart with your money, like you said. With the one avenue of real estate, you can create multiple streams of income. You have your earned income, interest income, residual income, etc. Focusing and understanding those different avenues to create money and have your money work for you as well.

As well as you’re working, it’s like you’re building up this little team. It’s like, “I’m working here. I’m making money. My money’s working here. It’s also making money.” Putting those two together, that’s two streams of income right there. People say this is like real estate investing but wholesaling is sales and marketing. You need to start investing actual money into equity. Buying actual properties. You need to start investing in education, even investing in your mind. There are multiple avenues that you can get a return on your money versus spending it at the bar. You have to reinvest it so it cycles and it flows through your business and continues to invest more as you make more.

I’m blessed to learn that at an early age and it helps. Helped our company become massively successful. It’s taking a risk. Not in time spent on the business but on money. I still have a joke. It’s like, I’ll throw everything that I have into the real estate game and have nothing. Literally, $30. There are people out there that are struggling to get their first deal and they have $5,000, $6,000 in the bank. It’s like, me, as a CEO of a multimillion-dollar company, I’m willing to personally take the risk. Personally, to help my business scale and elevate. You got to take risks. You got to put in work.

Prince, give somebody that’s brand new. Never done a deal. They’re reading, they’re inspired but they need something. They need you to tell them. They’re like, “What is the first thing that I should do?” What advice would you give them if they came to you and said, “What’s the first step that I need to do to get my first deal?” Give some advice on somebody that’s looking to get their first deal.

Thinking back on it, honestly, I would go back and invest in education if I knew about the TTP program. If I didn’t have a lot of money, I would scrape together the money to buy. Honestly, with programs like yours, there are no mistakes that can be made if you follow the step-by-step directions. You could save so much money. Resources are provided for you already versus trying to like can go on YouTube, but somebody’s education is high quality. The information’s organized so you can follow it. The first thing I’ll say is to scrape up the money to put together to buy this education, then implement the education. That’s what I’d do.

You folks are phenomenal. Thank you guys so much for being on the show. If they want to reach out to you, Donovan. What is your Instagram again?

It’s @TheDonovanRuffin.

Thank you so much for being on. If you’re reading, it’s @Prince_Patridge on Instagram. Reach out to those folks. If you are reading and you understand that you have that proactive mind, you need to check out the TTP program. One of the original, the OGs, of the TTP program. Prince has started there and has exploded and is running an incredible business. Living the life. He talked to me a few years ago.

If you’re interested in that, go to WholesalingInc.com/TTP. Scroll down, check out what it’s about, then keep scrolling and check out all the testimonials. Nobody has more testimonials. Check that out. Thank you so much for reading. You folks are the absolute best. I love you. Until next time.

 

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About Cody Hofhine

403Cody 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.

 

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