Posted on: June 30, 2020

There’s this misconception that wholesaling is only lucrative when you’re doing it full-time. Definitely not true. In fact, today’s awesome guest earned a whopping $41,000 while wholesaling part-time!

Taryk Baylor is a young and driven rhino from Winchester, Virginia. While he only wholesales on the side, Taryk was able to find a deal after only 6 weeks, thanks to his impeccable time, priority, and energy management.

If you’re considering wholesaling part-time, get your journey off to a superb start by listening to this episode. Taryk shared plenty of wholesaling tips, insights, and inspiration, you owe it to yourself not to miss it!

Key Takeaways

  • How he found real estate and wholesaling
  • How he started building momentum while working full-time
  • What his new YouTube channel is all about
  • Common distraction that prevents him from calling prospects
  • Where he gets his energy from
  • Why he chose to make cold calls and be proactive
  • List where he found the seller
  • How he reached out to seller and how their conversation went
  • What the condition of the property was
  • His advice to those who would like to give wholesaling a try
  • How people can get in touch with him

RESOURCES:

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

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Episode Transcription

Brent Daniels:
Welcome to the Wholesaling Inc podcast, America’s number one podcast for new real estate investors, where we know that finding discounted property 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. So let’s get started.
Let me start this podcast. I’m about to interview an incredible 21 year old wholesaler, okay? His story and the deal that he just did is going to absolutely blow your mind.
But before I do, I want to preface this, because he is the perfect embodiment of what I’m talking about when I talk about this thought, okay? We talk about time management. We talk about priority management, right? Priority management being way more important than time management. Let me throw something that’s even more important than priority management is energy management. Okay? We only have a certain amount of energy every single day.
I’m speaking to you out there that have those 9:00 to 5:00 jobs. I’m speaking to you out there that you’re getting into this business, but you have so many other responsibilities. Maybe you’re a stay-at-home parent. Maybe you’ve got this full-time job. Maybe you’re taking care of somebody that’s older. Or maybe you’re in the military. There’s a lot of different situations going on here, but how much energy do you have to put into this business? We’re going to break it down in this podcast interview.
But it is my absolute pleasure to speak from the barracks, okay? The Army barracks in Richmond, VA. I’ve got Taryk Baylor here. Say hello, Taryk.

Taryk Baylor:
Hey, what’s up? What’s up?

Brent Daniels:
I’m excited to have you on here. I mean, literally, you’re sitting at the desk in your barracks that you make your cold calls from.

Taryk Baylor:
Yeah, right here.

Brent Daniels:
Isn’t that crazy? Talk to me, man. Tell me about you. Tell me, where did you grow up and why do you want to be a real estate investor? How did you find wholesaling? Break it down.

Taryk Baylor:
All right. I’m originally from Winchester, Virginia. Joined the military about three years ago. So I’m actually in Richmond, Virginia now, right around that area. The reason why I actually wanted to be an investor was to get financial freedom. Not just for me, but my future kids and my actual parents. I didn’t want them to be in debt ever. I didn’t ever want to be in debt. I don’t want my future kids to be in debt. So I had to figure out what’s the quickest way to make the most money in the shortest amount of time, and it was wholesaling. Once I learned about wholesaling, I mean, I just had to find a coach and a mentor by then. That’s how I got started.

Brent Daniels:
Awesome. I mean, there’s a lot of different things that people can get into to try to find financial freedom. How did you find real estate?

Taryk Baylor:
I was actually at the bookstore one day and I had picked up a book, just real estate investing. I actually thought wholesaling was illegal at first, so I was kind of skeptical about it. I was just like, “Man, I don’t want to do wholesaling, so I’ve got to figure out something else.” But then I started seeing nobody’s really going to jail from it. So it was kind of like, “Okay, now it’s time I’ve got to get into it.” So just took that leap of faith.

Brent Daniels:
Well, it’s really interesting. It’s a funny thing. A lot of people, when we talk about wholesaling real estate, they don’t understand that wholesaling real estate is really just the art of sourcing deals. It’s just the skill of finding deals, finding real estate opportunities.
Now, the exit strategies are different, right? The typical exit strategy that we have in wholesaling is to assign the contract, put a property under contract and assign your right to that contract to somebody else. But you can close on that property, you can flip that property, you can keep that property in your portfolio. You can live in it, right?

Taryk Baylor:
Yeah.

Brent Daniels:
Wholesaling just means finding real estate opportunities or sourcing real estate opportunities. So that’s what you found. How did you start? I mean, how do you even get going when you’re in the military full time? I mean, how do you even get going? How do you start building momentum?

Taryk Baylor:
I mean, it was just a lot of research. I mean, at first, I was kind of procrastinating for about a good maybe like three months, just trying to learn everything. And then once I learned everything and I started listening to more and more podcasts, because I listened to a lot of them, by then it was just take an action at that point and having to figure out what actual time blocking that I needed in order to actually make calls and stuff like that to get started.

Brent Daniels:
Yeah, that’s a huge part of it, right?

Taryk Baylor:
Yeah.

Brent Daniels:
But I’m going to dig even deeper in there and find out how you have the energy, after going through your full day and all your responsibilities, to be able to do that. Give me a breakdown of your normal daily schedule.

Taryk Baylor:
I usually wake up around like 5:30, workout till around maybe like 7:30. So once I get done doing that, I’m at work from basically 9:00 to 5:00, maybe 9:00 to 6:00. After that, I’m just making calls from 6:00 to 8:00.

Brent Daniels:
Every day.

Taryk Baylor:
Yeah. But on the weekends I do at least maybe like five to six hours. But that’s on the weekends.

Brent Daniels:
On Saturdays?

Taryk Baylor:
Yeah, just Saturdays.

Brent Daniels:
So you have Saturdays off. So on your off day, instead of going out and having fun and running around, you’re sitting at right there, or standing, I guess, and making calls, right?

Taryk Baylor:
Yeah, yeah. Trying to get out.

Brent Daniels:
By the way, guys, if you are interested, Taryk has a brand new YouTube channel where he’s sharing his journey, he’s sharing what he’s learning, he’s showing you how to pull lists. Is it just under your name, your YouTube channel? I want to make sure people can find you.

Taryk Baylor:
Yeah, just under my name. Just Taryk Baylor.

Brent Daniels:
Spell it.

Taryk Baylor:
T-A-R-Y-K and then B-A-Y-L-O-R.

Brent Daniels:
Awesome. I felt like in those videos, that you had almost like a prospecting cockpit or a cold calling cockpit, or somewhere where you’re putting all these inspirational quotes and/or your scripts. I saw the TTP script there. Where is that?

Taryk Baylor:
That’s right-

Brent Daniels:
Is that just in your room there?

Taryk Baylor:
No, that’s literally right there. So whenever I’m making calls, I just look up and look at my “why,” and I just keep going, keep going.

Brent Daniels:
How important is that?

Taryk Baylor:
Man, it will make or break you. It’s kind of like if you don’t have a strong “why,” then it’s kind of like, “What are you doing it for?”

Brent Daniels:
Right. And your “why” is for your future family and for your parents.

Taryk Baylor:
Yeah, that’s it.

Brent Daniels:
So you didn’t grow up super wealthy?

Taryk Baylor:
No, not at all. Not at all. So this is definitely something new to me.

Brent Daniels:
Yeah, we’ll get to the deal breakdown. But how do you find the energy? You’ve been working… What do you do for work? I mean, is it something that isn’t that strenuous? I mean, it doesn’t matter what you’re doing, I guess. It’s eight hours of work, right? For the Army.

Taryk Baylor:
Yeah.

Brent Daniels:
What do you do for the Army?

Taryk Baylor:
I usually just do supply type stuff. Usually just sort out whatever they need me to sort out. Usually in the motor pool. It just all depends on the day. So it is a variety of things.

Brent Daniels:
And then at six o’clock, you’re on the dialer.

Taryk Baylor:
Yeah, right on the dialer, so I can get out of this.

Brent Daniels:
Does anything distract you? What’s the most common distraction that you have that would prevent you from not being able to call from 6:00 to 8:00 every day?

Taryk Baylor:
The only thing that’ll prevent me is myself. Nothing else is going to prevent me besides me getting in my head saying, “I don’t want to be calling today.” That would be the only thing that prevents me.

Brent Daniels:
Is that something that happens often?

Taryk Baylor:
When I first started off, if I were to get cussed out or something, then I’d be like, “I don’t want to make calls.” But now that I got my “why” back in my life, it’s kind of like, “I don’t care. I’ve got to get it by any means.”

Brent Daniels:
Yeah, for sure. And you’re 21 years old, right? I mean, at this point-

Taryk Baylor:
Yeah, I’m 21.

Brent Daniels:
… you could be out doing whatever you want. You could be out going crazy. You could be out partying all the time. But you’re staying in from 6:00 to 8:00, making calls, and then five hours on Saturday.
So guys, listening to this and watching this, if you want to watch this and put a face to a voice, go to Brent Daniels Real Estate on YouTube. Definitely check out the interview. It’s definitely worth seeing what we’re talking about here.
But you’re going hard at this thing. I mean, you’re really dedicated to it. Okay. How do you have the energy? How do you have the energy at the end of the day?

Taryk Baylor:
I mean, whenever I keep thinking about my “why,” I think that’s my energy source right there, because it’s just like, “My family’s depending on me.” Not even just my parents, but my future family. I just can’t afford to not live how I want to live. That’s basically my energy source right there, my “why.”

Brent Daniels:
You want to change… A lot of people would call it change in the financial future of your family tree, right?

Taryk Baylor:
Yeah.

Brent Daniels:
Financial freedom for your family. Just living in a way that you weren’t afforded growing up.

Taryk Baylor:
Yeah, so I definitely would say that-

Brent Daniels:
It’s incredibly powerful. Yeah, incredibly powerful. But there must be something inside you that you’re like, “I know I cannot only be financially free, but I can make a whole life out of this. Make this my purpose, my passion,” right? I mean, what inside you… Have you always read books growing up? Have you always thought that you had something special or different?

Taryk Baylor:
I’ve always felt like I’ve always been a natural born leader. I’ve always felt like whenever it came to basketball, a natural born leader. Whenever it came to stuff in the classroom, just natural born leader. So once I started figuring out that I could become a leader in this as well, it was kind of like… Because I mean, I used to play basketball at the time, so it was like a driving force.

Brent Daniels:
Well, the leadership skills that we learn from all the athletics or whatever, I don’t care if somebody ran student council or somebody was in charge of whatever clubs they’re a part of or whatever, it can translate into business, right?

Taryk Baylor:
Yeah, yeah.

Brent Daniels:
That’s what you’re doing here. You’re just taking it from your athletics into business. It’s beautiful in this business, because you can instantly start getting results and building momentum if you’re being proactive, right?

Taryk Baylor:
Yeah, kind of like that.

Brent Daniels:
Why not just send out a bunch of marketing? Why be proactive? Why choose to make cold calls?

Taryk Baylor:
I need a direct answer right then and there. I don’t have time to send out a whole bunch of postcards. I need a direct answer and-

Brent Daniels:
You want it now.

Taryk Baylor:
Yeah, I want it now, so…

Brent Daniels:
I love it. I love it, man. Well, and that’s so important. What I found interesting, Taryk, is when I started making calls, I was dreading it, dreading it, dreading it, dreading it. All this energy was getting sucked up. Hallucinating on bad calls, or somebody getting mad, or not getting or finding an opportunity. And then once I started, once I pressed go, conversation after conversation after conversation, all of a sudden it started giving me energy. At the end of three hours of calls, I was like, “Whoa, this is incredible. I have so much energy.” I talked to like two people in three hours that I know I can help.
I mean, is it the same for you? Do you feel energized after you call? Or are you just totally wiped out?

Taryk Baylor:
Yeah, I love it now. I love talking to sellers. I love getting down to really why they need help. That’s probably the main thing that really pushes me too, because… I mean, you can get all the nos in the world, but once you get that one yes and you need somebody to actually… That needs your help, it gives me energy. If you ever get that one yes, you’ll forget about all the nos you got that day or the week.

Brent Daniels:
I love that. You are absolutely right. By the way, a lot of the energy that we expend is worrying about things that will never happen. I mean, that’s just human nature. But especially when it comes to this business, we just make up things all the time. Just do the work, take the action, just like Taryk, and get going with this. Let’s break down this deal that you just closed, okay?

Taryk Baylor:
Yeah.

Brent Daniels:
I want to break down and make sure that we’re going through the four pillars. I want to make sure that we know what list it was from. And I want to make sure what marketing channel you used.
If you’re just listening to this for the first time, when you prequalify any seller, any distressed property owner, you want to prequalify them based on four things, the condition of the property, their timeline to sell, their motivation to sell it, and their price. Let’s break it down, Taryk. What list was this lead from?

Taryk Baylor:
This came from an absentee owner list off ListSource. Yeah.

Brent Daniels:
Awesome. Awesome. You pulled it. Did you pull any special criteria? Was it older properties? Was it owned for a while? Talk to me about it.

Taryk Baylor:
It was kind of just like what we got in the TTP program. Basically just verbatim off of TTP. I just pulled it exactly like that.

Brent Daniels:
Love it. Okay. So just to give you a little peek behind the curtain in the TTP program, we like going after properties that are older because typically, they need the most love. We like going after properties that have been owned for a while, because you can assume that there’s some equity there, unless they pulled it out with some sort of home equity line or something. So awesome. So absentee owners. Now, was it the absentee owners living out of the state or in the market?

Taryk Baylor:
No, they were actually in state. In state owners.

Brent Daniels:
In state. Awesome. Okay. So you got that list. How did you get ahold of these sellers?

Taryk Baylor:
I just reached out to them through TTP. Straight just cold called them.

Brent Daniels:
Cold call. My man. Yes. Okay, so you picked up the phone, you called them. How’d the conversation go?

Taryk Baylor:
When I was talking to her, this was maybe like a 10 minute conversation with her. I was just talking to her about just the four pillars, what we usually talk about. Her house was vacant. So nobody lived in there, no tenants or anything like that.
Her main problem was is that she actually had all of her stuff in the house because she used to live there, but she moved. But she had all of her stuff in the house. So that was her main problem of like, “You guys want to buy the house, but my stuff is still in there.” So we had to compromise with her and help her out as far as finding a moving company for her to actually move her stuff out of the house to help her.

Brent Daniels:
Awesome.

Taryk Baylor:
That was her main problem right there.

Brent Daniels:
So she hadn’t moved, she had all her stuff. What was the condition of the property? Did it need a lot of work or was it just dated?

Taryk Baylor:
The condition of the property, it might’ve needed around maybe like 20 to 30K in repairs. It was around an 1,800 square foot house. So it needed around that much in repairs. But it wasn’t too bad on the inside. It just looked like somebody hoarded a whole bunch of stuff in there. That was pretty much it. Yeah.

Brent Daniels:
So a little bit of updating, a little bit of clean-out. Nothing major. No big time six or eight months construction timeline.

Taryk Baylor:
No.

Brent Daniels:
Okay, awesome. Her motivation to sell it. Why did she want to sell it?

Taryk Baylor:
You said why did she want to sell it?

Brent Daniels:
Yeah.

Taryk Baylor:
With everything going on with this whole coronavirus and stuff like that, I’m pretty sure she just needed some extra cash in her pocket. Because it was kind of like, “Let’s get rid of it while we still can.” So once we had caught her… Maybe it took like a 10 minute conversation with her.
But the crazy part about it is the same time as she was talking to me, she was also talking to another wholesaler the same time. They had offered maybe 5K less than me. I think they got scared that they were about to lose the deal, and they jumped up like 60K. But the thing is is she didn’t really trust them because they were kind of just more money-wise than kind of like helping her with her actual problem like we were doing.

Brent Daniels:
Right, right. That’s the most important thing. It’s incredible. If people really feel like you have their best interest in mind, and you put them in front, you really communicate with them and understand their problem, and communicate effectively that you can solve that problem, people will take less than other offers that seem, “I don’t really like that guy.” You know what I mean?

Taryk Baylor:
Yeah.

Brent Daniels:
It could be… What’d you say? What was the difference in price between their offer and your offer?

Taryk Baylor:
First it was 5,000, then it was like 55,000.

Brent Daniels:
And she took your offer.

Taryk Baylor:
Yeah, yeah.

Brent Daniels:
All right. What price did she want?

Taryk Baylor:
She wanted it for 100 to 110, but we locked it up at 105.

Brent Daniels:
105. Okay, great. And then what’d you sell it for?

Taryk Baylor:
145.

Brent Daniels:
So how much was the total that… By the way, we’ll go into the breakdown of what you actually netted on it, but how much was the total that you made on it?

Taryk Baylor:
Like 17,000, but it was a 40K deal.

Brent Daniels:
40K deal. Hold on a second. $40,000 from one phone call. Now, you joint ventured this with somebody in the TTP family. Talk to me about that. Why did you joint venture and how did that go?

Taryk Baylor:
Basically, before all this, I was kind of in the Austin, Texas market virtually. But that wasn’t kind of working out, so I switched over to Richmond. It was probably maybe a month in, I didn’t have too many cash buyers, so I reached out to somebody in TTP that actually was living around here and actually doing it. So I was just trying to get it as quick as possible off my hands. Because you know how that first deal goes, so-

Brent Daniels:
Of course. Listen, I have no problem with that. Anybody listening to this, if you’ve got your first deal and you’re nervous about it, squat up with somebody in your market that you know you can trust. Obviously, we’re really, really tight in the TTP family. So we know that we’re going to be taken care of and everybody’s going to be open and honest and work to get the most for each deal, but to make it as smooth as possible, more importantly. So you partnered up. Did you double close it?

Taryk Baylor:
Yeah, double closed on it.

Brent Daniels:
Just to let you know, that you’re actually purchasing the property and closing the property at the same time. It’s almost simultaneous. But when you do that, you have to pay the title and escrow fees for the purchase. So I think some of those fees was, what, about 4K? Is that about right?

Taryk Baylor:
Yeah, yeah.

Brent Daniels:
Yeah. Yeah, and then you split it up and you made 17,000. I was joking before we got on this, I was like, “How long does it take to make 17,000 in the Army?” Which the answer to that, everybody, is a long time. So not getting into specifics. But that’s absolutely incredible, and that’s your first deal.

Taryk Baylor:
Yeah, first one ever.

Brent Daniels:
First one ever. 21 years old. How long were you calling before you got it?

Taryk Baylor:
I was maybe calling like a month and a half before I got this one.

Brent Daniels:
Yeah, and that’s the beautiful thing, guys. It doesn’t just happen instantaneously. He went for six weeks of calling consistently. And I assume you have a great pipeline of leads that you’re following up with.

Taryk Baylor:
Yeah. We just got another one to sign today.

Brent Daniels:
You did?

Taryk Baylor:
Yeah.

Brent Daniels:
What do you think you’re going to make on it?

Taryk Baylor:
It’s kind of a smaller one. Maybe around like that 7,000 to 10,000 mark. But it’s still something.

Brent Daniels:
Yeah, yeah. Because we have a lot of people in the military that listen to this show, listen to this podcast, watch this on YouTube. Talk to them for a second. What advice would you give them? They’re thinking, “Once I get out, do I want to get a job or do I want to start a business?” Or any of those entrepreneurial spirited people in the military. Speak to them for a second and give them some advice on the wholesaling business in general and just some advice on how to get started.

Taryk Baylor:
I think the biggest thing is time blocking. I think that’s the most thing. If you can only do a certain amount of hours a week, definitely do that certain amount of hours a week. Especially for us, since we’re in the military. I mean, we can kind of source basically our marketing and stuff like that, so we could possibly do even more than the average person.
And then once you’re kind of out of debt, it’s kind of like you’re just pocketing everything else. So I think the biggest thing is really time blocking. Knowing really your schedule, and then figuring out a way around that.

Brent Daniels:
Yeah, and being proactive.

Taryk Baylor:
Yeah, that’s it. Yeah.

Brent Daniels:
Well, I mean, can you answer your phone if you sent out mail and somebody called you at like 11 o’clock?

Taryk Baylor:
No.

Brent Daniels:
No. Right. Yeah, and you miss that call and there’s no… You’re not getting that deal. They’re going to call somebody else.

Taryk Baylor:
Exactly.

Brent Daniels:
So you have to do it. That’s the beautiful thing about being proactive in your businesses is you set your schedule. You’re having conversations with people between six and eight o’clock. You’re totally focused. It’s blocked off, right?

Taryk Baylor:
Yeah.

Brent Daniels:
I mean, if you were doing marketing, you would have to try to be calling them back during that time and playing phone tag, and it would just be a nightmare. So absolutely incredible.
Awesome, man. So you got this deal. You got your second deal locked up already. You are off and running. Tell people how to get in touch with you. Obviously, we gave them your YouTube channel. Definitely check that out. He’s going to post this video on there as well. But Instagram?

Taryk Baylor:
Yeah, so my Instagram page is just tarykthepioneer. Just all one. And then on just Facebook, Taryk Baylor. So that’s three ways.

Brent Daniels:
Awesome, man. Well, people will certainly be reaching out. Guys, reach out. He has such a giving heart. He is a go-giver. He is going to respond to you. He’s literally already making videos. I saw his little video set up. He’s making videos to help out anybody starting out, and he’s really showing his journey in this. So awesome.
I mean, you’re such an inspiration. Thank you for your service. Thank you for coming on the show and getting people inspired that a 21-year-old on their first deal on one phone call can make a $40,000 deal. Thanks again.
Everybody else out there, if you’re 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. That’s wholesalinginc.com/TTP. Scroll down, check it out. If it feels good in your gut, sign up for a call and it’ll either be with me or my right hand guy. We’d love to talk to you. It’ll be the best 45 minute call of your life.
Until next time, guys. Taryk, say goodbye to everybody.

Taryk Baylor:
All right. See you, everybody.

Brent Daniels:
All right. To everybody out there, as always, I encourage you to talk to people. See you. I love you. Until next time. See you.

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