Posted on: March 19, 2020
WI 387 | Successful Wholesaler

 

If there is a hall of fame for wholesalers, today’s incredible guest would definitely make the list! Jamil Damji is one of the most successful wholesalers of all time and in today’s episode, he spilled some of the secrets behind his massive success!

A seasoned entrepreneur, wholesaler, and real estate investor, Jamil has come a long way. While he started with no real estate experience, no marketing money, and no real support, he’s now the president of KeyGlee Investments, one of the most successful real estate firms in the country.

If you’d like to know how Jamil closes hundreds of deals without spending a single cent on marketing, you owe it to yourself to listen to today’s episode. Apart from sharing the unique approach he has mastered, Jamil also shared many of the tips and techniques that has made him wildly successful in today’s highly competitive wholesaling market!

2,000 Deals With $0 Marketing! With Jamil Damji

Episode Transcription

This is America’s number one show for new real estate investors, where we know that finding discounted properties is the most proven path to financial freedom. I am telling you that if I can do it, so can you. Let’s get started. This episode is going to be one that you are going to want to pull over on the side of the road or get off the treadmill. You are going to want to take notes of this episode. I’ve got one of the most successful real estate wholesalers of all time. He’s in the Hall of Fame. If there were a Hall of Fame full of wholesalers, he would be in it. He’s got the most unique approach to finding deals.

Remember, this business comes down to three parts which are lead generation, conversion, and disposition. There are three ways to do lead generation. The first way is marketing, paying for it, and advertising. The second is prospecting or being proactive, like getting out there, talking to people, picking up the phone, calling people or door-knocking.

The third way is getting deals by referral. A lot of businesses outside of wholesaling are built on referrals, and we don’t talk about it enough. I’ve got the master. I have the guy that’s done over 2,000 deals with zero marketing budget and zero cold calling sellers. This is all reaching out to the community of investors, agents, and other people that would send him deals. It’s Mr. Jamil Damji from KeyGlee investments. How are you?

I’m fantastic. How are you? Thank you for having me back. It has been a minute since we did this.

We did this before. Last time, we talked about going into virtual markets, and we will talk a little bit about that at the end but what I want to sink our teeth into and what people want to know is, how did you get so many deals? How have you been wildly successful and made millions of dollars with zero marketing budget and just going and talking to different people and getting referrals? How do you do it? How did you set it up?

It’s simple. The fact is that people will refer you business if it benefits them. That’s the key. No one is going to happily say, “I’m going to give you business,” and expect nothing out of it in return. What we were able to do for investors and agents was being able to help them move those deals at higher prices, and because we were so good at dispositions, the steady stream of referrals hasn’t ended.

You might have seen him on stage, on Instagram or Facebook. You are getting out there. You are being loud. You are giving a lot of value to a lot of people because you are opening up a different mortgage. You want to help people in these major markets, and w will list all those. I want to pull this all the way back before you ever did a deal or maybe you’ve done a couple here and there, and you got the idea.

I will tell you the history that I remember from you. In town, everybody kept telling me that they had this mystery buyer. He pays in cash. He buys everything. He’s fast. He makes quick decisions. He’s incredible. They were like, “If you have any deals, Brent, send them to me. I will send them to this guy,” and this is when I was a real estate agent.

The deal that you sent was to Alex Smith on a deal that was backing grant. Do you remember that?

Yes.

That was the first deal we ever did together. We didn’t know each other. Alex and I didn’t know each other. I was his mystery client. I had done one deal with him that was successful. That’s where we were.

How did you start that?

Here’s what I realized. If you do the things you say you will do, then you create in people’s brains a history or repeatable event that they can rely on. When people can rely on something, it’s comfortable for them. When it’s comfortable for them, guess what they will do?

Keep it up.

They will keep doing it over and over again. What I realized was that I could do that. I could perform but so could a lot of people. I wasn’t the only guy that could write a check in Phoenix at that time. There were hundreds of other people wanting to buy deals in Phoenix that could write a check even bigger than the one that I could write.

When you say write a check, what does that mean?

Close on a deal. If somebody sent me a deal and I looked, evaluated, saw it had pictures or whatever it was, and committed to that deal, my promise is my promise. I close the deal.

WI 387 | Successful Wholesaler

Successful Wholesaler: If you perform, if you do the things you say you’ll do, then you create what in people’s brains, a history or repeatable event that they can rely on.

 

Here’s the dark side. A lot of wholesalers have been burned by this. I know that I have been burned by it especially starting out. Somebody goes, “I want your deal,” and you are like, “That’s great,” but then they don’t deposit earnest. What they want to do is they want you to assign it to them, so they control it. They can now blast it out to everybody else and try to make something on top.

If they can’t, they don’t communicate with you. It makes you have the anxiety that the seller feels. You are then responsible for the seller. You are communicating with the seller because you sourced this deal, and because you are not hearing anything or somebody is truly not committing, it gets a bad reputation. It’s called a daisy chain.

Daisy chaining happens because people don’t communicate honestly. If somebody comes to you and says, “Send me your deal so that I can send it out to my buyers,” and potentially bring you a buyer, you are way more open to that situation than, “I will buy your house.” Control your deal and tie your hands from being able to bring in a different buyer on your own so that they can go and try their hand.

The difference in this is dishonesty. Daisy chaining is being dishonest. What I did and what I was doing at that time was being 100% honest with people to say, “I will take a look at this deal. If it made sense to me, I would commit to buying it.” It means that my earnest money is hard. If I can’t sell the deal or wholesale the deal while I’m in the inspection period, I’m still closing it. If that means I take a loss, I take a loss. Ruining your reputation or creating any disruption to the actions that people can expect from you is disastrous.

When one person is squawking out there like, “Jamil doesn’t close?” that’s the end of it. What I realized was that there were other closers. There were other people that were good, and I had to separate myself from the herd. This is going to sound corny to you but a good friend of mine who happens to be a rapper who used to rap with Tupac told me a valuable piece of information. He said, “Mystery makes the world go round. If you can create some sense of mystery around you and around what you are doing, people won’t be able to resist it,” and that’s exactly what I did.

I went around to the entire community and said to everyone, “I’m a real buyer. I will buy your deals.” That was all true. “I want you to send them to me first but I need you to do me one favor. You cannot tell anybody who I am, what my name is, what I look like, and where I live. I want to remain 100% anonymous.” I told that to about 1,000 people. What ended up happening was all these people were running around town saying, “I’ve got this extremely mysterious cash buyer who closes deals. I need your deals.” They were crazy about getting out there and keeping me fed. That’s how it exploded.

It’s incredible because 3 or 4 people that I know and respect well were like, “I’ve got this buyer. I can’t tell you who he is. He wants to keep our relationship. He doesn’t want to look at deals that aren’t really deals. He knows all of the great stuff.” You stayed anonymous for probably a year, which is hilarious. You talked to everybody. The important thing that I want to mention here is you put in the work.

I was cold calling myself. I was reaching out to agents.

You weren’t calling distressed property owners. You were calling agents, other investors, and everybody around and built up a referral database. That’s the interesting thing about this business. Coming from a traditional standpoint, there was always two things that you do if you want to be a successful real estate agent. One, you have to be proactive or spend a bunch of marketing or to the point where you have enough past people that you have worked with or friends, family, or people that refer you business to where the referral business takes over your business, and you can have a career out of it. There’s nothing like that in wholesaling. Nothing nobody talks about it.

I can tell you that from experience, that’s the most lucrative way to do it because I employed a silent and free workforce. The difference is that the people that were out there going direct to the seller and doing the marketing were feast or famine. For me, it was a constant feast because when people were riding the waves of their business, there was always another investor, another wholesaler or an agent that had the business for me. I was able to overcome very easily the business cycles that you would normally experience in wholesaling because of the consistency of my efforts and the people around me.

This has been fast. Was this 2015 or 2016?

I would say probably ‘13 or ‘14 was when I started planting the seeds. ‘14 or ‘15 is when the plants were reaching the sun. That’s when the amount of influx of leads and referrals was so much that I couldn’t any longer just be Jamil or the mystery man behind the computer or the checkbook. I had to come out and be like, “Hi. It’s little old me.” Now, I have a team.

It’s interesting because we had a great interview on this show. If you are interested, go to Brent Daniels – Real Estate Coach, on YouTube. You will find this great interview. We interviewed a Templeton Walker who you know very well and did a lot of business with. He does 100 or 150 deals a year. You are doing 1,500.

I hope so.

This is what I want to do. Sometimes, we learn from this, and even myself, at this moment, I’m thinking, “What are the steps that I take to implement this?” If you were to say, “The first thing you need to do is,” do you get a list of real estate agents?

If we are just talking about referrals, the market has changed, where the deals we are looking for have left the grasp of the agents. It used to be that way where the agents had access to the deals because the number of wholesalers or people that were out there was lower. That has shifted. Now, it’s wholesalers. What I would do is go to your networking events and find the wholesalers in your town.

The onesie and two-sie guys are your best friends. There are larger wholesalers, you will come to learn. You will come to become friends and do business with them as you grow and as you prove your worth but in the beginning, it’s all the new guys that you have to befriend. Also, you have to have to perform. You’ve got to do what you say you are going to do.

If you can create some sense of mystery around you and what you’re doing, people won’t be able to resist it.

If you are out there getting referrals deals sent to you and you don’t have the funds or a backer to close the deal, then be 100% honest. You need to bring something else to the table, and that must be a buyer or multiple buyers. That’s what you can offer wholesalers. If you are wanting to recreate what I did, what I would suggest you do is start building your cash buyers list. Start creating those relationships. Start making those people hit you up, come to you, and say, “Where’s the deal?” The number one text message that I get on my personal line is people begging me for houses.

They are doctors, attorneys or business people.

They are international investors. They are people that I haven’t been able to shake off onto my team because they are so attached to the level of service that I was giving them that they refuse to buy from anybody else but me, and I’m okay with it because I love being in the trenches. Although I love traveling the country with Pace, doing events with you, and all of the amazing, beautiful things that are coming from this, there’s nothing more exciting to me than going to a house or getting into the deals with people and making it happen. I’m a deal junkie at heart. That addiction will never leave.

Outside of meetups, is there a list that you can call? There’s only so many wholesalers or investors that you can meet face-to-face but if we’ve got somebody that’s got that hunger, that drive, and wants to pick up the phone, I always suggest for everybody, I love sourcing my own deals. They are bigger. I need less process. You’ve got a whole machine going. You have to reach out to the real estate agents and the other investors in your market. At least a slice of your time, you need to start building up your database of referrals because that will feed you forever. That’s planting the seeds.

I don’t know the exact URL or how it’s done but reach out to me. Follow me on Instagram, @JDamji.  Send me a DM, and I will forward it to you. This is the most amazing hack that we discovered. You can search all of the Investor Carrot websites in one city with a specific URL. There’s a way to write it but let’s say it’s InvestorCarrot/atlanta. All the Investor Carrot sites in Atlanta are all there.

You then call them.

Be honest and say, “I’ve got ten buyers that are looking right now. Let me see your inventory so I can send it to them.” Don’t pose as a buyer. Don’t pose as anything you are not unless you are. Be exactly what you can perform, and that will earn you the respect of the person you are calling. By doing that, what you will have access to is all of those efforts, all of the marketing money, all of the deals, and all of the juicy nuggets of things that you can give to your buyers will all be there. You create those relationships, and those relationships last a lifetime. How long ago did we do that deal?

A couple of years ago.

I consider you one of my best friends.

We have probably done 150 deals at least.

Looking back at that and seeing the benefits of how these relationships blossom and extend into the future, that’s what you guys need to be doing. The proactive like talking to people that’s a time block in your day. You’ve got to spend three hours a day doing that. I do it and still do it for my purposes. At a higher level, we are still out there pounding the pavement. What you need to do is time block your TTP. You’ve got to time block your referrals or your relationships. If you can time block both efforts and activities, then the likelihood that this becomes a business that lasts for you is a lot stronger and higher than if you were only focusing on one or the other.

If you aren’t the buyer yourself, the key is you’ve got to have a massive cash buyer database. You are in how many markets?

It’s eleven, and we are franchising. We will be nationwide.

We will talk about that in a while. In each market, how many cash buyers do you think you have?

At a minimum, it’s 8,000 to 10,000 in each market that we are in.

Maximum?

It’s 70,000 or 80,000.

WI 387 | Successful Wholesaler

Successful Wholesaler: You need to time-block your TTP and your referrals and relationships. If you can time-block, both efforts then the likelihood that this becomes a business that lasts for you is a lot stronger and a lot higher than if you were only focusing on one or the other.

 

You sell a lot of things. I sold you a deal that I squeezed everything out of. You made $34,000 on top of it. I pushed it. I said to my disposition manager, “Billy, push it out hard.” He was like, “Jamil wants it.” I was like, “What?”

It has become a joke that if Jamil calls you and says, “I want to take your deal,” you screwed up because you left money on the table, and that’s okay.

You were our highest offer.

There was no other way.

You just have more buyers. The buyer that wanted to buy it, wanted to live in it, and you had them on your list. I would never have that guy on my list, potentially. It’s incredible. You are in eleven markets. What are you going to be franchising? Is it more processs or your business?

All of it. We do acquisitions. In order to sell deals, you have to acquire them. It’s not only referrals. We have started TTP. We do texts and calls. We are direct to seller on a portion of our deals but we are also getting a lot of referrals because of our disposition price. What a franchisee would get is not only the techniques that we are using to go direct to seller but how exactly we are getting the co-wholesale deals and then a KeyGlee list in their market, which in my opinion, is worth millions of dollars.

If somebody buys a franchise, you build them their cash buyer database? When is it available?

By the end of March 2021. We are in the approval stage. As soon as they give us the stamp, we are off and running.

If you want to join a waiting list or reading this after March 2021, what do they do?

They can email me at Jamil@KeyGlee.com, and I will put them on the waiting list. The waiting list is long. Get on it. If you took the KeyGlee list in Phoenix, what would you think that’s worth?

I don’t even want to say. $10 million.

I think more but I’m happy you started there because that’s truly what data is worth these days. Being able to have access to that type of distribution network is what’s going to make you the king in your area. I feel that not only will this KeyGlee brand and the capacity to help wholesalers as we have been doing in the markets we are in will grow but this becomes the new gold standard.

This is the question people love to hear, and I love to ask. You have $500. I will drop you in the middle of Rhode Island. How do you get your first deal?

Did you know Pace and I had been talking about doing a challenge like this?

Yes.

We want to get dropped in the city and then have burner phones. Here’s what I would do. Do I have a phone or no phone?

You’ve got a phone.

Start building your cash buyers list. Start creating those relationships. Start making those people hit you up, come to you and say, “Where’s the deal?”

Do I have my contacts?

Yes.

It’s not fair.

Maybe a burner phone.

A burner phone that has the internet? Have I got data?

Yes.

The first thing I do is start looking at RIAs in the area that I’m at, and then I would see who the members of that RIA are.

Who runs it?

No. The people that are members or the people that are in the RIA. I would then craft an amazing outreach message to them or a text message that I would send to their social profiles introducing myself and some way that I possibly could help them. Some of these guys would be suppliers, some would have deals, and others would be buyers.

In my message, I craft it such that they would be able to tell me what they were more interested in, whether it’s selling or buying. I would do that for about five hours until I created a database of sellers and buyers, and then I would take the deals that I was getting over here and let them know that I wanted to start talking to a couple of my buyers about them.

I would make sure that I had permission, and then I would start matching. That’s how I do a deal. I can promise you that it would work 100% because it’s that simple. RIAs, networking groups, all the membership lists or Facebook groups, there are so many legitimate people in those groups communicating, talking, doing deals, and doing the thing.

I see a lot of people don’t want to reach out. They want to be great at selling the deal, and most of them want to be great at getting the deal. I’m one of them. You are saying, “I’m going to be the guy that connects you to all these other guys through me, and I’m going to get paid for it.”

That is exactly how I do it.

You are the best. It all comes down to being proactive. Everything that he’s done was not from a huge marketing budget. Jamil didn’t have millions of dollars that he threw into direct mail or pay-per-click. He picked up his phone and talked to people. If you are interested in joining the most proactive group in real estate investing, it is the TTP program. Go to WholesalingInc.com/TTP. Check it out. Check out all the testimonials. If it feels good in your gut, sign up for a call. I look forward to working with you personally.

To your TTP students, you are getting success. You are a member of TTP. You are making calls and getting deals. Give us an opportunity at KeyGlee. We are in twelve markets. We are in Florida, Georgia, Arizona, Nevada, Utah, and Texas. Reach out to us. Let us help you buy price from a jump. Don’t walk in blind to these seller appointments. Let us help you guys out. We will help you calm and sell. We will get you more money. How many TTP students have we helped?

Dozens.

Reach out to us. This is the master at lead generation and helping you get those contracts. We are the masters at helping you sell them. There’s no check until it’s done. Thank you.

You are the best. Until next time, I encourage you to talk to people. I love 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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