Posted on: March 24, 2020

If you’re like many people, you’ve probably decided 2020 is the year you’ll crush your wholesaling goals. To help you out, we’ve invited a serial entrepreneur, wholesaler, mentor, coach, and podcaster to provide the much needed guidance!

Let us state the obvious—today’s special guest has a stellar resume. Steve Trang owns Stunning Home Realty and is a partner at Max Cash Offers. He is also the host of the popular podcast Real Estate Disruptors and the creator of the OfferFast Homes app.

In this episode, join Steve and our very own TTP guru Brent Daniels as they shared powerful insights, tips, and techniques that can help you dominate the market and crush every single one of your wholesaling goals.

You’ll be learning from two of the industry’s best so you owe it to yourself not to miss this episode!

 

MARCH CONTEST ANNOUNCEMENT!

For the entire month of March, Wholesaling Inc is running a Ratings and Review contest! We’re going to fly out 3 lucky winners to Florida, paying for airfare and hotel, to spend to full days with Tom Krol!

Whether you are trying to land your first deal or scale your existing Wholesaling business, Tom is going to help you crush your obstacles and achieve your goals!

And the lucky winners will all be featured as guests on the Wholesaling Inc Podcast!

To enter, you must Rate and Review the Wholesaling Inc Podcast on iTunes (5 stars please:) and send a screenshot of the Review to Darrin at darrin@wholesalinginc.com.

3 winners will be chosen at random and announced on the Podcast in April! Good luck!

 

Key Takeaways

  • Mindset of the people he interviews on his podcast
  • What the “give up” list is all about
  • What has changed in the wholesaling world over the years
  • Where the game is won and lost in the wholesaling world today
  • How to get sellers to pick you
  • The most effective way to generate leads
  • Number of text messages they blast out in a day and the response rate they get
  • Services they’re using
  • What they use to qualify sellers
  • Tactic they’re using to determine people’s motivation
  • One of the best ways to get in front of the sellers
  • Why you should invest in yourself and in your personal development
  • Why it’s crucial to be careful about the people you surround yourself with
  • What his big goal is
  • What the law of compensation is
  • How he’ll find a deal if he’s dropped in the middle of nowhere with only $500 in his wallet
  • How he’ll use social media to work for him
  • An untapped resource they’re using

RESOURCES:

If you are Ready to Explode Your Wholesaling Business, Click here to Book a Free Strategy Session with me right now!

Subscribe to Wholesaling Inc

Episode Transcription

Cody Hofhine:
Woo wee! Hey guys, Cody Hofhine here, before we get going with today’s episode, I just want to make sure you’re aware of the contest that’s going on for all of March, where three lucky winners are going to have a wholesaling business experience of a lifetime. For the whole month of March, what we’re doing is a special ratings and reviews contest, where we’re going to select three lucky winners, where we’re going to take care of all their accommodations, their flights, their hotels, and you’ll spend two full days with the head rhino himself, Mr. Tom Krol. Imagine what this would be like for your wholesaling business, whether you’re just beginning or you’ve already done some deals, but think of what it could do for you if you’ve spent two full days with Tom Krol in sunny Florida, and all the accommodations were taken care of, what would your year look like?
Now to enter into this contest for this ratings reviews, we want you to go over to iTunes and give us a rating and review, five stars, please, and take a screenshot and send that screenshot of the review to Darrin@wholesalinginc.com. That’s Darren D-A-R-R-I-N@wholesalinginc.com. Now, if this isn’t enough, we’re also going to feature the three of you on the Wholesaling Inc podcast. While you’re down there, Tom’s going to put you in the hot seat. Get ready, head on over to iTunes, do the ratings and review, and just simply take a screenshot of the review, send it over to Darrin@wholesalinginc.com. That’s Darrin, D-A-R-R-I-N@wholesalinginc.com so that we can pick out three lucky winners to go head down and spend two full days with Mr. Tom Krol. Now let’s get going with today’s episode.

Brent Daniels:
Welcome to the Wholesaling Inc podcast, America’s number one podcast for new real estate investors. Where we know that finding discounted properties is the most proven path to financial freedom. I am your host, Brent Daniels, and I am telling you if I can do it, so can you. Let’s get started. I am so excited for this podcast because I’ve got in the TTP podcast studio, the host of one of the biggest podcasts out there, the Real Estate Disruptors podcast, where this guy here interviews the top real estate professionals from around the country. I want to bring the warmest and the hottest welcome to Steve Trang. Steve, say hello.

Steve Trang:
Hey everyone, thank you so much for having me. I’m really excited. I’ve been looking forward to this for a very, very long time.

Brent Daniels:
This is exciting. And I think we’re going to flip the script a bit because usually you’re used to really digging into people and really break it down and seeing how they do their business. But not only that, but how do they keep the mindset? How do they keep the strengths? And I think for this podcast, we discussed it before we went live is let’s bring the most important tips that you’ve learned from these top interviews, from your own business, from being in Phoenix and being around all of us crazy people, what are the top things that people need to be aware of in 2020? Let’s start there. Let’s start with just foundationally mindset.

Steve Trang:
Mindset.

Brent Daniels:
What is the mindset of the people that you have coming in and interviewing with you?

Steve Trang:
I think there’s a certain amount of tenacity. There’s this grit we talked about. We talked about persistence and these are people that just don’t take no for an answer. You watch the movie Pursuit of Happyness. You talk about, you heard a lot last week, Mamba mentality. These guys don’t know when to quit. They don’t know when. They can’t understand no. When they’ve said, “I’m going to do this,” it’s going to happen. There’s none of that, “Brent, man, I really hope this wholesaling thing works for me. I really want to quit my job.” No, it’s like, “I’m doing this. And the world is on notice. Either you can like me, you can hate me, but you won’t ignore me.” And I think that’s that mindset it takes to really dominate.

Brent Daniels:
I love it. Well, we talk about on this podcast, there’s a huge difference between wanting to do wholesaling and it must happen. You want to do it, you’re going to do a couple deals here and there. It’s going to be inconsistent. Things are going to come in. Your job is going to come in. Your schedule is going to pop in, it’s going to distract you. But the people that must, I must not have a 9:00 to 5:00 job. I must not be average. I must not have a $1,000 in my savings account. Those are the people that are really exploding, whether it be in the TTP program, whether it be in the Wholesaling Inc, whether it just be in the general real estate industry, you see those people and they just, it’s interesting. You wonder if they were born like that or if this is something that they’ve adopted.

Steve Trang:
Well, I look at in, I’m going to confess for your listeners. I don’t have a six pack. I know they’re probably shocked. And so I’ve said for the longest time, most people want to become successful like I want a six pack. Man, that’d be pretty cool.

Brent Daniels:
That’d be sweet.

Steve Trang:
If I had a six pack. but am I going to say no? Because there’s always special occasions like the Super Bowl, ate terrible last night, but that’s the kind of stuff, are you willing to make the sacrifice? The other thing I was talking to actually someone this morning, about the give up list. It’s not what am I willing to do to be successful? What am I willing to give up? Crazy story, I’ve been playing, I’m a big nerd. I’ve been playing fantasy football, this year was year 20.

Brent Daniels:
Oh my gosh.

Steve Trang:
I’ve been playing it forever. And I told my friends, “Hey guys, this year I’m out.” And they said, No.” Like the freaking Crips, you can’t leave. I was like, okay, fine. I still signed on, paid my money. And then I delegated my fantasy team to somebody else. And I legit did not watch a single football game until last night. Whole year. I gave up football so I can pursue my dreams and my passions.

Brent Daniels:
Got it. And you think it’s just these little things, the little tweaks that you give up, though, what did you call it? The give up list?

Steve Trang:
The give up list.

Brent Daniels:
I love it. I love it. That really, it really hits home, especially when you’re looking at your schedule. And especially when you’re looking at everything that you’ve got going on, what are you really wasting time doing? It’s like Gary Vaynerchuk type of thing where he’s like, all right, go and hustle from what? 6:00 to 2:00 in the morning or whatever. You know what I mean? Hustle afterwards type of thing. But it’s really interesting when you look at how much time we actually have. I always break this down. We have a 168 hours in a week. How much are you willing to commit to your real estate business to change your life?

Steve Trang:
Exactly.

Brent Daniels:
Is it 10 hours? Can you find 10 hours? Yeah, you can find 10 hours. And then it’s getting the focus and then it’s having a community behind you. And then it’s not feeling like you’re on an island and feeling like you have some support there. And I think that’s what a lot of people get out of private groups. A lot of people get that through a YouTube or social media group. You know what I mean?

Steve Trang:
And if you look at ET the Hip Hop Preacher, talks about if you want to be successful, or you want to be rich as much as you want oxygen to breathe. The study was like, or example is you have to be at the beach at 5:00 AM. Pace and I, we run, we call it the Wholesale Run Club. We run at 5:30 AM, Monday, Wednesday, Friday in Gilbert. We post about it on social media. You would think if you really want to be successful in wholesale, you would find a way to get to the park. Because we’re posting where we’re running. You think you would find a way.

Brent Daniels:
You’re inviting people.

Steve Trang:
Yeah. You think you would find a way to get there. I would. When I was young, I would find a way to get there. But like I said, most people want to be successful, like I want a six pack.

Brent Daniels:
Yep. Yep. Got it. Give us something tactical, give us something we have talked about it a little bit and I think that this is really, really important. That 2014 to 2019, it was about getting the right information and just getting in front of the seller. It’s changed.

Steve Trang:
It’s changed. Back when I started buying properties in 2012, we’ve talked about this before. It was me and Sean Terry. Sean Terry of Pay Per Click. He was number one and I would bid what I needed to be, to be number two. I didn’t want to spend more than number one. And so at that time, I go and I was a terrible salesperson. I’d go, I was like, “All right, Brent, your house is worth 150, I could pay 115, want to do it?” And I would buy deals that way. It’s terrible. But now, that wouldn’t work, that won’t fly. Right now, if you were to pull up any neighborhood, you could very easily with Batch, find all the right houses that are distressed that need a cash offer and then very easily get their phone number, even their email. And you could call them, text them and send them ringless voicemails.
The challenge today is not how to get the homeowner, how to find distressed houses, that is the easy part now. Now that everyone’s chasing the same guy, we’re all using the same list, pretty much using the same service provider, how do you get the homeowner to pick you to be one of the six or seven that they’ll even meet with? And then from that six or seven, how do you get them to pick you be the guy? That’s where the game is won or lost today.

Brent Daniels:
Well and I think that when you’re saying that something really interesting is playing around in my head. I really think I am seeing, and this is just from our business. I am seeing a lot more success when we’re actually going on the appointments and getting face to face and actually having a presentation and actually, building real face to face rapport. Where before, we could have sent the contract DocuSign, told them we’re ready to go. They sign it and we’re open escrow now. Now, you send the DocuSign, it’s like, you’re waiting and waiting and waiting, waiting and hoping.

Steve Trang:
And it says open. Open.

Brent Daniels:
Yeah, they’ve seen it.

Steve Trang:
It’s viewed, not signed. Yeah. Yeah.

Brent Daniels:
How important do you think it is to get to the appointments? And how do people do that if they’re in a virtual market? If they’re virtually wholesaling?

Steve Trang:
I think it’s tough and it goes back, and I go back and forth with this, because I believe wholeheartedly, you got to get face to face, but then we locked up three deals virtually in Tucson last week. It’s like, huh. But I still believe that it’s important to get face to face because again, the deals are won and lost on a fine edge and if you can meet someone face to face, you can shake their hand, you can look them in the eye, I’m a very big believer in that. As far as how do you get them to pick you? You got to set, you got to manage expectations. You got to set the ground rules, what Max likes to call the rules of engagement. When we meet, we’re meeting and it’s either going to be, I’m buying this house or I’m not buying this house and that’s it. You’re not allowed to think about it. You’re not allowed to call sister Susie. You’re not allowed to call Uncle. This is it. We’re here to buy a house today.

Brent Daniels:
How do you set that up? There’s got to be some advanced agreements, up front agreements that you go through so that they’re primed to make a decision during this time.

Steve Trang:
Right, right. For sure. The first thing is, you say, Brent, thank you for inviting me into your home.” A lot of the homeowners that we’ve met with, they’re curious as to what this process looks like, how much they expect to walk away with and when they can get their money. Am I missing anything?

Brent Daniels:
Nope.

Steve Trang:
And obviously for me, I’m going to ask you some questions. Some of them may be really personal. Is that going to be all right? And then naturally the end of our time together, one of two things is going to happen. We’re either going to do business together or not. Either outcome, totally fine. If the price we’re offering doesn’t make sense for you, can you just go ahead and tell me it’s going to be a no for you? Likewise if I’m not sure this is one of the houses we’re going to buy, then we’ll give you a ride by totally, we’re not going to buy your house. And if it does make sense for us to work together, then what we’re going to do is just going ahead, put it out in writing what we talked about. Would that be okay?

Brent Daniels:
Great.

Steve Trang:
And that’s it. And when they get to us, remember in the beginning, you’re like, no, I need to think about it. Remember in the beginning we talked about it’s going to be a yes or a no. And it was a no it’s okay. Just tell me no.

Brent Daniels:
Why do you think it’s so important to get that decision? To not let them have the time to stiff arm you a little bit and to think about it or we actually rode across this a lot, Steve. People will literally say, “Hey, we need to pray about it. We need to pray about it overnight. Make sure it’s the right decision.” That sort of thing. And what we do is during that situation, I’m just interjecting here because this is fun. I love this. What we do is we go, “Okay listen, sign the contract now. You agree, you like the price, you like the terms, you like us.” We always break everything down to price, terms and you, then me. That’s every deal, price, terms and you, it all comes down to that. We go through that, we get confirmation.
Yes, yes we do like you, we trust you. We’re going to do business. Okay, sign the contract. I’m going to take it. You call me at 8:00 AM and if you want me to tear it up, I’ll tear it up. Not a problem. Or they go, “No, I don’t know if that’s the thing.” I’ll leave it here. I’ll show up here tomorrow at 8:00 AM. If you don’t want to do business, if you don’t think that this is the best thing for your family, then we’ll tear it up on the spot and we’ll figure something out. Just a couple techniques, but you go and you want to get them to make the commitment now or you’re going to move on.

Steve Trang:
Exactly. There’s a couple reasons why. It’s called the campfire effect. We’ve been to seminars, we’re excited. We’re stoked. And man, our business is going to change. This year is going to be the year. You’re fired up and you get on the plane, you’re still pretty fired up. I still feel pretty good. By the time Monday rolls around, Brent, that was a stupid idea. What are you talking about? Why are you trying to get us to make these changes? And you have this, you were so fired up and now you’ve completely cooled off. And the same thing happens when you leave the seller. They’re sold on you. You got bonding rapport. By Monday they didn’t remember your name. That’s just reality. It’s human nature. I wish it weren’t the case.

Brent Daniels:
You’re saying, strike while it’s hot.

Steve Trang:
You got to strike while it’s hot. And I’m not saying that we don’t get it afterwards. We do. We get deals afterwards. But do you leave, you’re a 90% no. It’s not, if you looked out the path of your career and all the times you left without the contract, how many you win, it’s not a very good percentage. It’s pretty lousy.

Brent Daniels:
Yeah. Well, listen, a couple of different things there. One, you have to have lead generation to have shots at it. To get to the plate. What are you guys seeing is the most effective way to generate the leads? And then we’re going to get into pre-qualifying in the appointment. But what’s working for you guys?

Steve Trang:
Right now the biggest thing is texting. We do a combination of texting and voicemails and we’re always looking at it. But right now that’s what we’re doing. Whether it’s an RVM, if it lands, it says, “Hey Brent, I just left you a voicemail,” blah, blah, blah. If it doesn’t land, “Hey Brent, we just tried leaving you a voicemail. Didn’t work,” and then blah, blah, blah. That’s our message. We get a lot of callbacks from that. That’s been good.

Brent Daniels:
Where do they go?

Steve Trang:
And cold calling. When they call back, it goes to CallRail, which goes in our Podio and our guys just work inside of Podio.

Brent Daniels:
And our guys, you mean acquisition managers, sales guys, that type of thing?

Steve Trang:
Yeah. Our sales guys. We got our virtual assistant setting this all up. We’re sending, I think, was it 23 campaigns? Over 10,000 text messages a day.

Brent Daniels:
Oh my gosh.

Steve Trang:
It’s what we got to do to compete in this.

Brent Daniels:
What’s a good response rate?

Steve Trang:
Oh man. Our response rates are somewhere between 20 and 30%, but these are not positive responses. These are yes or who is this?

Brent Daniels:
I hate you.

Steve Trang:
Yeah. Yeah. They know, they are always mentioning our moms. It’s just a very interesting conversation. Some people send photos from under the belt.

Brent Daniels:
Yes. Yeah. You get those, those get filtered out. Let’s say you send out 10,000, 2,000, 2,500, come back. Those get filtered based on some common responses. And then you’re seeing the ones that seem like there could be potential.

Steve Trang:
There’s something there.

Brent Daniels:
And are you jumping on the phone with them?

Steve Trang:
There’ll be a text or two. And then it’s a phone call. It’s a pickup.

Brent Daniels:
Got it.

Steve Trang:
Even before we’re having them.

Brent Daniels:
You got to get them on the phone.

Steve Trang:
We were trying to have longer conversations and it worked, we had conversations. But I think the more we did it and the more people are doing it, these people on the other side are way less patient. You just got to pick up the phone. Talk to people if you will.

Brent Daniels:
TTP there it is. There it is. You’ve got the texting, you’ve got the, who are you using for both of these services?

Steve Trang:
Max actually has a friend in Mexico that has a call center. He’s just using her and they’re calling medical and student debt. This is actually an improvement versus everyone else.

Brent Daniels:
Yeah. Yeah, they love doing it for you.

Steve Trang:
Yeah, it’s way better.

Brent Daniels:
You’ve got, who are you? What’s the platform you’re blasting things out with?

Steve Trang:
Slingshot.

Brent Daniels:
Slingshot?

Steve Trang:
Yeah.

Brent Daniels:
And then what about voicemails?

Steve Trang:
Slingshot.

Brent Daniels:
Slingshot. Okay. I’ve never, I don’t know about Slingshot, so that’s awesome. It’s been pretty effective for you.

Steve Trang:
It’s been pretty good for us.

Brent Daniels:
Is it reasonably cost? People are now listening. They’re like, oh, okay Slingshot. Is it?

Steve Trang:
I wouldn’t say it’s the cheapest. It’s cheaper than TextMagic by far, which we were using until we broke it. Once we got past a 1,000 text messages a day it just, and so we’re using Slingshot. I’m hearing that the Bash service is cheaper. I don’t know. We haven’t explored it yet, but it’s worked for us. And until something stops working for us or I hear someone else having this crazy success, we’re just going to stay the path. Because there’s more than enough things to constantly tweak in our business.

Brent Daniels:
Okay. Now you’ve got them to the point, their timeline, is short. They’re ready to sign a contract. You’ve got your acquisition manager that’s going to pre-qualify them, see if you’re even close. What do you guys use as your indicator of whether or not you go on an appointment?

Steve Trang:
We qualify on only one thing. I know a lot of people qualify different things. For us, it’s just pain.

Brent Daniels:
Pain. Motivation.

Steve Trang:
If there’s pain, if there’s motivation, we’re coming.

Brent Daniels:
Got it. Even if the house is nice. Okay.

Steve Trang:
We got guys in our office that are licensed. There’s opportunities. There’s other opportunities.

Brent Daniels:
Got it.

Steve Trang:
But I just go back to my days, again, talking about like the Pay Per Click days, I would call you, it’s like, “Oh, my house is beautiful and I’m not in any hurry.” It’s a dog crap shot house. And then we got other ones like, “Oh, I am super motivated. I’m very reasonable.” And they want 30,000 over Zillow. What have I learned? People lie. As long as I know there’s motivation, we will come.

Brent Daniels:
Got it. How are you pulling the motivation out of them? Are you asking specific questions? Are you pre-qualifying them so that you understand? Because some people are like, “Well, why are you selling the house?” What tactics can they use to implement? And guys, if you’re just listening to this, make sure you go to the YouTube channel, Brent Daniels YouTube or Brent Daniels Real Estate on YouTube so you can see this live in action. Not live, but in action and put a face to a voice. But yeah.

Steve Trang:
Yeah. We have our whole cold calling script, but in the middle of it is, “Hey, Brent, I’m just curious, what’s happening right now., You think about selling your house today?” It was like, is this call the first time? Or is it something else? If this call’s the first time then it’s a dead lead. But we’re here it was like, “Oh, this was going on.” And I was, “Well, tell me more about that. How long has that been going on? What are you trying to do about it?” Similar questions, and we’re going through, we’re trying to develop pain.

Brent Daniels:
Say it again so that people can start. People are going to listen to this and they’re going to implement. We have the most unbelievable audience of people that listen to the podcast and watch it. What did you say exactly?

Steve Trang:
Brent, I’m just curious, what is it that’s prompted you to sell your house?

Brent Daniels:
Got it.

Steve Trang:
It’s like, blah, blah, blah. It’s not this call that prompted that. No. Okay. Can you tell me more about that? And they’ll tell us more about it. Okay. And how long has that been going on?

Brent Daniels:
Got it.

Steve Trang:
What have you tried to do about it? And once they go through that, it’s like, then we kind of see, and we don’t want to dig deep here. We want to save that for the appointment.

Brent Daniels:
Got it.

Steve Trang:
We just wanted to know that something’s going on.

Brent Daniels:
Sure. And then that’s when you’re going.

Steve Trang:
That’s when we’re going.

Brent Daniels:
Got it. Got it. And so I assume you guys are going on appointments all the time.

Steve Trang:
Not as many as we would, because a lot of people are like, “Ah, you know.” If the offer’s right, well then that’s it. If the offer’s right, is a no and that’s it.

Brent Daniels:
Yeah. Yeah. That’s the classic, How much will you give me? For the right price, I’ll sell.

Steve Trang:
Exactly.

Brent Daniels:
Okay, well what’s the right price? You tell me. Okay.

Steve Trang:
Yeah, it’s a waste of time.

Brent Daniels:
Here we go. Those never close. You know what I mean? You really got to dig deep into their motivation and find out what is their problem? Because truly people will trade equity for speed and convenience. But the only time they do that as if there’s a problem that you can solve.

Steve Trang:
One extra step.

Brent Daniels:
You’re saying, “Listen, just find a problem.” This is something that Cody Hofhine talks about all the time on the podcast. They’re the masters of it in Salt Lake for sure, is just finding out what the problem is, getting in front of them and seeing if you can get the price and terms ironed out.

Steve Trang:
Exactly.

Brent Daniels:
I love it. I love it. What else? Let me hit you with this. I really think, because this whole podcast is about things to do in 2020. First of all, you got to have that must, it must work. You can’t just want this, not now. In 2020, this has to be a must. That’s number one. Number two is you need to go on these appointments. Then you need to go on these appointments more than ever. They need to be pre-qualified and you need to understand what the problem is, what the motivation is.

Steve Trang:
Yeah, exactly.

Brent Daniels:
I’m going to throw out three, I think that if you are not out there door knocking pre-foreclosures, you’re leaving hundreds of thousands of dollars on the table. And I’ll tell you why. You and I both are around Pace Morby be every single day. He’s in this office. He’s literally in here now. I’m telling you, two to three deals a week from door knocking. He’s got a whole team of door knockers, but he started with himself. Whole team, you get in front of these people because they’re not answering their phones typically, they’re not responding to texts typically because they are, they’re really stressed out. Not only that, but they’re getting bombarded.

Steve Trang:
Well it’s really easy to hide because everyone’s calling them. A, they’re on everybody’s list, pre-foreclosure. Every time you’re new, you’re on the list. Anything new to wholesaling, pre-foreclosure is on your list. Now you’re on everybody’s list, but odds are, you’re probably not only behind on your mortgage. Might be behind on your car, utilities, whatever. Or maybe you’re borrowing money from your aunt to get caught up. Who knows who’s calling you so you’re hiding, you’re under the covers. And the only way to get in front of that person is knocking on their door.

Brent Daniels:
That’s it. Yeah. And it’s amazing. People are answering or you leave a little leave behind there with a little note, trying to get them to have some sort of communication with you. But I think it’s huge. And I think guys, it’s not just for getting wholesale deals, which trust me, there’s plenty of pre-foreclosures that have equity, but the ones that don’t, you can lock them up on terms. You can lock them up as a subject two or whatever, and you can sell those. You can actually wholesale those to people that are building their rental portfolios.

Steve Trang:
Exactly.

Brent Daniels:
That can’t get any more loans because got too many loans on their credit. That’s deep dive. I don’t get into it. I’m just, I do wholesale deals. I do big wholesale deals.

Steve Trang:
But with have a friend that’s doing it and having a lot of success with it so you guys should definitely be checking that out.

Brent Daniels:
I think that that is something that people need to go after in 2020. What else we got?

Steve Trang:
Oh man. I think so for me, I can’t say for 2020, but you’ve just got to get better. I think listening to podcasts like this, is huge. We’ve talked about it before, I’ve spent over a quarter million in personal development. You can’t win if you’re not the best version of you possible.

Brent Daniels:
Right. I love it.

Steve Trang:
You’ve got to keep getting better.

Brent Daniels:
Investing in yourself, investing in yourself, investing in getting better, not just in real estate, but just as an entrepreneur.

Steve Trang:
Right. Well and I think and then also something that we’ve had the benefit of is you’re upgrading your circle. I’ve seen it just, I’m telling you just from the last few days, we’ve had the benefit of having this great circle. It is, we’re blessed, but there are other people that have, I’ve talked to who they’re just guilty by association. They want to, they’re reaching out to me, whatever, and it’s like, I kind of see who you’re hanging out with. I’m not sure.

Brent Daniels:
It works both ways for sure.

Steve Trang:
Yeah, if you’re not careful about who’s in your circle, it can help you, it can also drag you down. And you got to be very careful of who you allow yourself to be surrounded with.

Brent Daniels:
I love it.

Steve Trang:
Yeah, affects your brain, affects your mindset, it affects your heart.

Brent Daniels:
It could affect your morals.

Steve Trang:
Yeah, exactly.

Brent Daniels:
Really. I’ve seen it. I’ve seen people literally teach people how to wait till the last moment of a transaction and try to get a dramatic price drop or they’re not going to close it. The homeowners have already moved. They’ve already got a lease somewhere else. They’ve got it all, Everything’s tied up.

Steve Trang:
They’ve got nonrefundable clauses somewhere.

Brent Daniels:
Of course. And then they’re just putting the pressure on them because they know that they’re in a tough spot. And I’m telling you, that does not last. And you can’t be around those type of people. You got to be around the people that are truly out there trying to make a difference in the community. For sure.

Steve Trang:
Protecting your circle, I think, and upgrading your circle, really huge.

Brent Daniels:
You interviewed the top guys from around the country so it must be pretty easy for you.

Steve Trang:
Well it’s easy now. But for you guys that don’t know, you were, I think you were number eight. And so, you gave me the push. I told you my vision, “Hey Brent, I’m going to have this podcast. Everyone’s going to fly in from across the country.” And you’re like, and everyone else was like, “You’re crazy. You’re crazy.” But you’re like, “Do it, hold the line.” And so couple times I thought about giving up and in my mind, in the back right here, Brent’s like, hold the line, hold the line.

Brent Daniels:
Hold the line.

Steve Trang:
And it’s made a tremendous difference obviously.

Brent Daniels:
Well, and you have, let’s talk about your goal, your big goal, your big 100 millionaires.

Steve Trang:
100 millionaires.

Brent Daniels:
Talk to me about that.

Steve Trang:
Well, one of the books I first read was, Think and Grow Rich, incredible book. And in there, there was some journalist that asked Andrew Carnegie, you have 18 millionaires that work for you. How’s that even possible. And the time, 1930s was not a prosperous time. How do you have these 18 millionaires working for you? And he said, “You’re asking the question the wrong way. These people weren’t millionaires until they worked for me.”

Brent Daniels:
Got it.

Steve Trang:
And that was something for me, that and Zig Ziglar’s, you can have anything in life that you want so long as you help enough people get what they want. And so I think just those two things have always been in my head. And I always said, when I started the brokerage, I want to create 18 millionaires. And I think we’re well on our way. But once I had a pie, it’s like with the reach that we have, there’s no reason why we don’t create a 100. Honestly, I think it’ll probably be closer to a 1,000 by the time we’re done. But that’s the mission. We can help people.

Brent Daniels:
It’s incredible. And you’ve seen your business skyrocket.

Steve Trang:
Skyrocket. Yeah. Yeah, the opportunities that have been available to me were not available until I started the podcast. And it’s the go giver. I can’t remember if it’s number two or number three, but the amount of money that you make is directly proportional to the number of people you help. It’s not even a little bit related, directly proportional. It’s crazy.

Brent Daniels:
The law of compensation.

Steve Trang:
Law of compensation.

Brent Daniels:
Number two. Yeah, love it. Okay, so I ask this question and people really like it. I give you 500 bucks, I drop you in the middle of nowhere. How do you get your first deal?

Steve Trang:
Man, 500 bucks, middle of nowhere, I would probably go find the title company, get a free list. Get the pre-foreclosures. And I would probably just start door knocking. And I haven’t done a lot of door knocking, but I feel pretty comfortable if all I have is $500 to my name, it’s going to freaking happen. Working at McDonald’s is not an option.

Brent Daniels:
How do you find a buyer for it? Let’s say you went that far. Let’s say you got the list. Let’s say you door knock. Say you still have 450 bucks, whatever. Whatever. How do you find a buyer for that? Knowing what you know now, interviewing all the great people that have built the biggest cash buyer databases of all time, how do you sell that deal?

Steve Trang:
Social media is such a powerful weapon that’s free. Whatever city I’m in, I go on that Facebook group. I can have a brand new profile, Facebook group, all the community, every wholesaling community has a Facebook group or five.

Brent Daniels:
Fix and Flip Grooves, real estate investor groups, wholesale. Yep.

Steve Trang:
Posting in those groups. You can Google who the top wholesalers are and probably some of those are going to be fluff. But you’ll find one of them and you can DM them. That’s free. And it doesn’t have to be like, “Hey, can you move this deal?” It’s a matter of fact, I got this property. It’s worth this. Here’s what’s going on. Here’s what I’m looking for it. And if you’re brand new, then you better lock it up real deep so it’s a no brainer. Probably put a Zillow link in there, even though we don’t care for Zillow. If you’re brand new, at least something to validate your numbers versus these little out of the reach ARVs.

Brent Daniels:
Yeah, well and I say, get a Dropbox account. Make sure you put your pictures in there or a Google Drive or something that’s shareable so that people can see the accurate photos of it now. And then you got to look for a cash buyer that’s going to actually put down an earnest deposit. A non-refundable earnest deposit because I see, this happened to me the first couple times that I really wanted to wholesale, is people committed to the deal. But I didn’t realize that they just wanted me to assign it to them so that they could find a buyer.

Steve Trang:
So they could shop it.

Brent Daniels:
So they could shop it. And they didn’t put their earnest in. Now, we don’t even send the assignment until that earnest is at the title company. Non-refundable, 5,000 minimum every time. That’s going to show you, who’s real.

Steve Trang:
100%.

Brent Daniels:
That’s going to show you.

Steve Trang:
It’s going to be pretty hard though, when you’re brand new. To get people to, I think you should definitely get there. And another thing too, if you’re in Arizona, if you’re in Texas.

Brent Daniels:
But why is it harder? I think it’s the same. I think if they literally follow that instruction, put there. The only reason it’s hard is because they think in their mind that the buyer’s going to be mad if I ask for all of these things, or they’re going to think of new, or they’re going to think that I don’t know what I’m doing.

Steve Trang:
That’s true. That’s true. Very true. It’s just head garbage.

Brent Daniels:
It is. It is. Just stick with it. Make sure people are actually going to commit with funds. And now you’ve got a cash buyer that you know, you can rely on. And then build a relationship, build it up, build it up and build it up.

Steve Trang:
And there’s another place you can post the properties too. And got OfferFast my app. It’s free in Arizona, it’s free in Texas and we’re going to be in Georgia and Florida in the next month.

Brent Daniels:
Talk about it.

Steve Trang:
What we created, I’m a wholesaler, my cousin Whey’s a flipper. And one of the frustrations, you get all these emails about these properties, where it seems like if you get it and it’s a good deal, you try calling it, guy never answers. You reply back, no response. Or you saw it in the afternoon, three hours later, it’s gone.

Brent Daniels:
Gone.

Steve Trang:
What we have, we created it so that we can consolidate all the wholesalers in the one place and create an MLS so that someone’s got a, I want to buy something in 85018, and only 85018, you get a push notification based off your saved search.

Brent Daniels:
Awesome. How many people are in it?

Steve Trang:
In Phoenix, we’ve got about a 1,000. Texas I think we’re about 300 people.

Brent Daniels:
Build it up people. Build it up. Join OfferFast so then that way people can just start selling their deals quicker.

Steve Trang:
It’s free and we’re doing deals in there.

Brent Daniels:
And people are going to buy them.

Steve Trang:
We’re doing deals in there. I think it’s an untapped resource because when we posted in there, it’s selling. I think people are missing out on that opportunity.

Brent Daniels:
Love it. What States?

Steve Trang:
Right now we’re in Arizona and Texas and next month we’ll be in Georgia and Florida.

Brent Daniels:
Beautiful. The whole state. Awesome. Steve, how does it feel? How does it feel to be on the other side of this?

Steve Trang:
Feels great. I love it. I love it.

Brent Daniels:
So much.

Steve Trang:
It’s a different, different conversation.

Brent Daniels:
Let’s recap here. Must versus want. You must, you have the top top people, they must win.

Steve Trang:
No is not an option.

Brent Daniels:
Right, right. Love it. Two is make sure that you are pre-qualifying, going on strong appointments, making sure that they sign while you’re there.

Steve Trang:
Yeah. Again, and you have to have really good sales. Because one things that we didn’t talk about enough, or I didn’t really get a chance to expand upon is, if you watch those movies where someone’s shot. and they’re trying to get the bullet. It sucks. It’s painful. And then you get your buddy in there digging in it, try to get the bullet out. That’s what we do at the appointment. You’re hurting, we’re going to find out where it really hurts and that’s part of ways we’re able to compel them to work with us.

Brent Daniels:
And hurt them to heal them.

Steve Trang:
Exactly.

Brent Daniels:
Right. Increase sales skills, understand the sales process, understand pre-qualifying, go on the appointment with some intention.

Steve Trang:
Absolutely.

Brent Daniels:
Three is door knock pre-foreclosures. Four is expand your circle, but also watch the negative influences on your circle.

Steve Trang:
Protect your circle. Actually, you and I we’re talking about this last week. If you’re negative on Facebook, I unfollow you. I don’t have time for you to bring my energy down. My energy, I’ve got to protect it. It’s so important. I can’t have people whining.

Brent Daniels:
Love it. Love it. Steve, thank you so much for being on the podcast.

Steve Trang:
Thank you.

Brent Daniels:
Everybody out there. If you are interested in joining the most proactive group in real estate investing, it is the TTP family. It is the TTP program. Go to wholesalinginc.com/ttp, wholesalinginc.com/ttp. Scroll down, check out what it’s about. Check out all the testimonials. You’re going to have to scroll for a while. If it feels good in your gut, sign up for a call. I look forward to working with you personally, guys. Thank you, Steve, again.

Steve Trang:
Thank you. Thank you.

Brent Daniels:
Thank you for being on here, everybody out there listening and watching, I encourage you as always to talk to people. See you guys.

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