Ever wondered how massively successful wholesalers like our very own Brent Daniels achieved the success they’re currently enjoying? Wonder no more! In this special two part series, Brent himself shared the 12 step system that has helped him dominate the market and attain financial freedom!
Regardless of where you currently are in your wholesaling journey, you’d still find tremendous value in today’s episode as you’ll be learning proven methods that Mr. TTP himself uses to get ahead of the pack. If you’re looking for a roadmap that can help take your wholesaling business to the next level, consider this episode a must hear!
12 Steps To Massive Success In Real Estate Wholesaling – Part 1
I have a very special announcement that I want to make on this show. As you know, Tom Krol is one of the most successful coaches out there in the coaching space. I’m not talking about wholesaling or even real estate. I’m talking like a coach. A coach who is able to help people. His students get massive results. He has been able to help move many people to success in a big way. That’s not so easy to do for a lot of people. A lot of people out there talk a good game but when it comes to delivering real quantifiable results very few people can deliver on that.
We know that we have a lot of readers. Some of you who have never done your first deal maybe and also there are a lot of you who have accomplished a lot of success in your life. Maybe thought about sharing your expertise, gifts, and talents with other people to help them achieve what it is that they are looking to do in their lives. To that person who is reading now, I’m talking to the person who is good at what they do and has a desire or passion for helping other people in some way or in any way.
I want to share something awesome with that person I’m talking to, whoever that is reading now. Tom is launching a brand-new project, which is called Coaching Is Easy. His goal with this new project is to turn you the person with some level of expertise into a massively successful coach and help you build a seven-figure coaching business if that’s what you want to do.
He is only going to be working with a handful of people who he is vetting personally because he knows who is going to make a terrific coach, and who’s not, the person who’s in it for the money. If you are an expert in some way and you have often dreamt about sharing that with the world and impacting other people in a significant way. Growing your authority and being an influencer but also getting paid accordingly for the value that you deliver to the world.
In building a successful coaching business, you are going to want to head over to www.CoachingIsEasy.com. If you want to work directly with him, that’s great. Fill out the application form, and he and you are going to get on a call and discuss what exactly that you are looking to achieve as a coach.
This is something that he has never offered before. We don’t know how long he’s going to be doing it. Now, he’s only looking to take on a couple of students to work directly with hand in hand on this. He is going to be sharing everything that he has used to generate almost $15 million in coaching profits. He’s going to show you how to build and create your own seven-figure coaching business. He’s worked with and created some of the most successful coaches out there. People like Brent Daniels and Cody Hofheinz, to name a few.
If you want to discover all of the things that have made him so successful as a coach, you will want to subscribe to his email list here where he will be sending out weekly, all of his best tips, tricks, and tactics on how you can become a super successful coach. Again, go to www.CoachingIsEasy.com. If you are ready to start the journey of building a massively successful coaching business, and you want to work directly with one of the best coaches in the industry, fill out an application form and schedule a call directly with Tom. If you want to discover all the secrets that have made Tom, one of the most successful coaches in the coaching space, you will want to get on that newsletter. He’s all about no-nonsense and no fluff. That’s what he does. That’s why this show is so successful again. That’s it for me.
This episode is absolute fire from Brent Daniels. This episode is part 1 of a 2-part series. Brent is going to give you a step-by-step plan for achieving massive success in real estate wholesaling. It doesn’t matter if you have never done a deal before or maybe you have done dozens or even hundreds of deals because what Brent is about to share in this 2-part series is his very own 12-step system for getting massive results with wholesaling, regardless of where you are on your real estate journey.
Wholesaling Success: Six to 10% of the entire country’s property owners are in distress.
He has taken everything that has propelled him to massive success and has broken it down into twelve simple, easy-to-digest steps that you could start following immediately, so you can start getting better results. Regardless of where you are on your journey and what you were looking to achieve, maybe for some of you, you are only looking to make a few extra thousand dollars a month or trying to get out of that job, escape the rat race as they call it, and build your own business.
Maybe some of you want more freedom in your life. More time to do stuff that you like to do. Spend more time with your family, go on vacations or do more traveling. For everyone, it is different. Whatever it is, I believe that what you are about to hear, if you are open-minded and implement what Brent is going to share here, you are going to walk away with a roadmap to success. I’m confident of that. Enjoy part 1 of this special 2-part series.
On this show, the gloves are coming off. I am going to dump many action items on you. I’m going to give you so many step-by-step instructions in this show to get your first deal or to build consistency in your business that you are going to need to read this again. You are going to need to get out your pad of paper and a pen and write down these action items because this is the plan and the path. You are the hero of this story but I’m your guide and I’ve got the path. I have been there. I have done it. This works every single time if you take action.
Let’s be honest. Every time that we are watching YouTube, listening to podcasts, going to a seminar, going to a Meetup, anytime somebody that’s doing business is giving us advice, we have to put it through the filter of, “Is this entertainment, education or instruction?” Entertainment is phenomenal. It’s great. It gets us excited and pumped up. It makes us want to do something special.
It’s all the inspirational stuff that we see and put into our brains, which is completely important but it doesn’t get us paid. It doesn’t help us to be successful, maybe but only if we take action. Only if we are out there every single day, taking action on all that inspiration but entertainment in itself is not going to get us paid.
The second filter is, “Is this education?” Education is great. It’s good to understand the theory and to put these things in our brain, and understand terms, processes, the flow of the transaction, and the flow of how do we go from never doing a deal to doing a deal. That’s education but that stuff stays in our brain. Education is not going to get us paid. What gets us paid is instruction. Taking these steps and taking action every single day. That’s what gets us successful. I end this, I’m going to give you instructions. I’m going to give you actual action items to take so that you can implement them today, tomorrow, hopefully as soon as possible because the market needs us.
The facts are 6% to 10% of the entire country. I don’t care what market you are in. It depends on where your area, state, community or city. If you are closer to 6% or 10% but 6% to 10% of homeowners or property owners are in distress. Those are facts. That means there are millions of people. It is a conveyor belt of opportunities out there in your marketplace in your city or wherever you want to focus your efforts.
There are plenty of deals out there but are you going to take the action to get in front of these property owners? You are one quality conversation away from changing your financial future because if you have never done a real estate wholesale deal, you have faith that you can do it or you wouldn’t start. You have faith that you can make a difference. You can provide value to a distressed property owner, you get paid. It depends on how much value you provide to that distressed property owner. It depends on how big of a check you received or how big of a deal you get.
You have the time to succeed in your business.
Robert Kiyosaki said, “The deal of a lifetime comes around about once a week,” and it’s true. You are one conversation away from a huge, massive deal. I have talked to people and have students, and have people in this Rhino Tribe that the first deal they do, $30,000, $50,000, $80,000 deals. One of my students did a $100,000 deal as the first deal in Seattle.
It’s one conversation away but the beautiful thing is once you are able to complete a real estate wholesale deal, that takes you from the faith, which is unbelievable. You’ve got to have faith that you can do this but it converts that, you cross that bridge to where it becomes a fact. When it becomes a fact, that’s where the power is at.
Have Quality Conversations With Distressed Property Owners
That’s when you know that you can do and repeat this. You did that first one, you can do it over again. The key to getting your first deal or to get consistency in your wholesaling business is to have an unbelievably strong connection between your financial goals and your ability to have consistent quality conversations with distressed property owners.
There are only three ways to do that. You can wait to get a referral from somebody that knows that you are a real estate investor, whether that be a real estate agent, a neighbor or a family member, they know that you are a real estate investor. They bring you a distressed property owner. They give you an introduction and referral. Now, you are having a conversation with a distressed property owner. It is put into your lap.
It is a phenomenal way to get business but you need to build a reputation. People need to know that you close deals. People aren’t going to refer you to their friends and family or clients if they don’t know that you can get the deal done. It’s very hard to have predictable income if you are only getting it from referrals.
The second way to get deals is to buy them with marketing. Traditional marketing, biggest ones, direct mail, pay-per-click, and bandit sign. This is when you buy those conversations. You are buying people calling you. You are sending out mailers. You are designing a website and putting out Google Ads to have people reach out to you. It works and it’s expensive. It costs a lot to have distressed property owners call you. You need to have a big budget, especially with companies like Zillow, Opendoor, Offerpad, and Redfin.
These guys spend millions of dollars on marketing and probably in your market or your backyard. Maybe you have seen it. Can you compete with those people? You need to have some self-awareness. If you are more comfortable having people call you and buy those conversations, then do it. The way that I’m going to encourage you to do, is to talk to people. That’s the whole TTP, Talk To People. You earn them with prospecting. You earn the conversations by being proactive, reaching out to these distressed property owners, and having conversations every single day, and seeing which one of them has a problem that you can solve.
There are three ways to source the deal. This is one of the biggest hurdles I feel people have as they are trying to get their first real estate wholesale deal or build consistency so that they can quit their 9:00 to 5:00 jobs, so when they get out of the military, they have a business that’s already running. Their kids are grown and they want to do something special with their life.
Wholesaling Success: The timeline is so critical because time kills all deals.
They are young people, guys or gals, coming out of high school that have that entrepreneurial spirit. I don’t care who it is, you have the time to do this. You have the time to be able to succeed in this business. We all have 168 hours in a week. If you commit a minimum of twenty hours a week to your business, you will be successful. You need to find it. It is not time management. We’ve got plenty of time. I don’t care if you sleep 56 hours a week, which is 8 hours a night, which nobody does. If you do, you are amazing but I don’t know anybody that consistently sleeps eight hours a night, especially if you have kids.
You’ve got 168 hours a week. You’ve got 56 hours that you are sleeping. You’ve got 40 hours that you are working your other job. That’s 96 hours. What are you doing with the rest of your time? It’s not a time management issue. It’s a priority management. If you make this business a priority for the next three years, you are going to be set for life because not only will you have consistent income coming in, you are going to build a foundation for your business that is rock solid and diamond hard.
You are going to have freedom of schedule, which is the biggest blessing. That’s the greatest gift of all time is the freedom of schedule. You are going to be able to be an example to your children, friends, family, people that don’t even know you but see the amazing amount of work and success that you have. That is exciting. That is what it’s about. I’m asking you to commit twenty hours a week to that. I know you can do it. You know you can do it. You need to have discipline and an honest look at your schedule and time block when you are going to work in this business.
The next step is you need to be proactive because here’s the problem. “If you are always waiting around for people to call you from referrals or marketing, you are going to start getting anxiety.” Not only anxiety that nobody is going to ever call you or that you spent $5,000, $10,000 on marketing or $500, $50 or $150 on marketing with no results.
You are going to get the anxiety that you are going to get a phone call and for some reason, you are going to be in the shower, at the gym, on a date, on vacation or out of cell service. You are going to miss that call and opportunity to make $10,000, $15,000 or $20,000 from that deal because you better believe that if people are reaching out to you, you are not the only one, they are dating around.
These distressed property owners, when they are at the point where they are calling somebody to give them a cash offer on their property, they are not going to wait around for you to get out of the gym. They are not going to wait for you to put the kids to bed so that you can call them back. They are going to call everybody else that’s on a stack of mailers or any other website that pops up. “We buy houses.” If you are being proactive, you can destroy all of that anxiety because you are having conversations with distressed property owners on your schedule.
From 9:00 to 12:00 every day, you make calls. From 11:00 to 12:00 on your lunch break, you make calls. When you get off work at 4:30, from 5:00 to 6:00, you make calls. You are having those conversations on your schedule. You win. It’s not people calling you in the middle of the night or on a weekend. When you set your schedule, destroy the anxiety.
What Is Your Value In Your Marketplace?
Next, ask what your value is now in your marketplace. How much income do you bring home? That’s how much value you provide to the marketplace. In our capitalistic society, our income equals the amount of value we provide. You can argue with me on that but it’s the absolute fact. The more people you help out, the more value you provide, the more money you make. You are having an honest look at your schedule. You might as well have an honest look at your value.
The more people you help out and the more value you provide, the more money you make.
What do you want it to be? “Brent, I want to make $1 million.” Provide $1 million of value. “How do I do that?” You solve $1 million worth of problems in your community. You help distressed property owners. Tom Krol, the greatest wholesaling coach of all time tells it very simply. “People will trade equity in their property for speed and convenience. It’s our job to find them.”
In every distressed seller, every deal that you do, there are core elements for every seller. I looked back with my team, I said, “What is the common denominator here? What is the common element that every single deal that we have has?” It wasn’t what lists they were on, some were probates, pre-foreclosure, tax defaults or driving for dollars. Some are predicted that they were going to sell at a discount by these brain scientists.
What is the common element? It came down to three things. The three things are, they want to sell their property. There’s this whole debate over, whether you need to talk to people that need to sell versus wants to sell. There are plenty of people that need to sell that foreclose every single day of the week. There are plenty of people that need to sell that lose for not paying property taxes or the judgments. They need to want to sell. They need to want to sign an agreement with somebody to sell that property.
Number two is they need to trust you to get the job done. If they do not trust that you can get this across the finish line, they will not do business with you. 1) They want to sell. 2) They trust us to get the job done. 3) They have a problem we can solve. If these property owners don’t have a problem, then they are going to sell it in retail. They are going to put it on the market then wanting to upgrade to a bigger house is not a problem. It’s somebody that remodeled their entire house and wants to get retail for it and they don’t want to pay realtors because they don’t like realtors. That is not a deal. They have to have a problem that you can solve.
Every single seller looks for these three things. If you find these three things, these are the people that you are going to do business with. In every single lead, you need to pre-qualify 100% of the time. We pre-qualify them based on the four pillars of pre-qualifier. 1) The condition of the home. 2) Their timeline to sell. 3) Their motivation to sell. 4) What price do they want. We need to understand the condition of the property.
Time and time again, the worst the condition, the better the deal. If this is a gorgeous property, unless something off the wall happens, which has never happened in my career, I have never heard of somebody that had a completely remodeled house that they’ve got a smoking deal on. The condition of the property is important. If the condition is bad, we will follow up with that lead forever. I don’t care what their timeline is. At some point, they need to make a decision. The condition of the house is critical.
Their timeline to sell. “Do they want an offer?” Great. “Can they not sell for six months or a year? Do they not want to sell until three years down the road?” The timeline is so critical because time kills all deals. If you give a written offer to somebody that’s not ready to sign it, they are going to leverage your offer to every other investor in town. You became the lowest amount that they would take and they get a bid up and you go through heartbreak because all these deals that you give offers on all of a sudden, everybody else is buying them because they were a $1,000 over your offer.
Motivation, “What is their problem?” That goes back to the core element. “What is their motivation?” We need to pull this out. We need to find out what their pain is. We’ve got to let them be able to explain what is painful about their situation so that we can heal them. The fourth one is price. “How much do they want?” You can have all those things. It could be the worst dumpster fire of a house. They could want an offer and move out yesterday and their timeline is now.
Wholesaling Success: Ask about the condition of the property to warm up the conversation.
They could be motivated to sell because they don’t want to deal with it anymore but if they want to double what it’s worth, you can’t help them out. Maybe with some creative financing stuff and that’s fine but we are talking about wholesale. We are talking about finding deeply discounted properties, price matters. Out of all these pre-qualifying, the price is the toughest one to get out of them.
Warm them up. Remember, when you are talking to a stranger about their property, the first 45 to 90 seconds are going to build force fields around themselves that says, “I don’t trust you. I don’t know if you are scamming me. I don’t want to open up to you. I have a reflex no to anything that you say.” My advice to you is to warm them up.
The longer the conversation goes, the more likely they are to tell you the truth and open up to you. That happens by the easiest, by asking about the condition of the property. A lot of people will describe and explain the property. They are comfortable with that but when it gets to the real nitty-gritty about them and their situation and problems, then personally, it gets tougher.
The condition of the property, that’s what you use to warm up that conversation. “Mr. Seller, what remodeling have you done to the kitchen and bathroom in the last years? When was the roof replaced? How’s your air conditioning unit working? Is the pool equipment still functioning as well as it can?” All of these questions warming it up. “It looks like it’s a 3-bedroom, 2-bath house, is that right?” “Great.” “It’s 1,300 square feet. Is that accurate?” “Yes, that’s accurate.”
You are warming up with facts. If you are using your tone of voice, mirroring, and matching the way that they speak, they will open up to you. You need to have enthusiasm. You need to protect your enthusiasm. I don’t want you to blow them out and be bombastic but I do want you to have enthusiasm. It will warm people up there. They are going to work with you more.
Keep Track Of Your Numbers
Next is, let’s assume you are out there. You are getting leads. You are having conversations. You’ve got a pipeline of opportunities that could pop at any time. You need to keep and be obsessive about a scorecard. You need to track your numbers. This is the difference between somebody that tries to get deals and somebody that gets them consistently is they know their numbers.
Here are some things I want you to track. 1) How many people do I need to talk to, to get a lead? 2) How many leads do I need to get a deal? 3) How many cash buyers do I have? How much do I make per deal? How long do I need to prospect to get a deal? This is assuming that you are taking my advice in being proactive and picking up the phone, and calling them.
To be proactive in this business, you have two options. You can go door-knocking. You can go straight to their door with zero budget. You could do it now, go find the ugliest houses in your area and knock on their door and say, “I know this is out of the blue but I’m interested in buying a property in the area, and I wanted to see if you would consider an offer on your property here.” That’s it. It’s not rocket science. If you are looking them in the eye, you are being kind, you are standing a little bit away from the door so that you are not intimidating, you are going to have some good conversations. You can do that absolutely free.
Be proactive in your business.
That’s how I started my business. I had no money. I was $742,000 in real debt, not like mortgage debt like judgment debt. I had to go out and door knock. I was in a hole. That’s how I’ve got my first few deals. I then discovered that if you’ve got accurate phone numbers for these distressed property owners, you can call them, what a novel concept. That’s where the TTP philosophy all comes from, either talking to people at the door or over the phone. You are going to be way more efficient on the phone.
Plus, I don’t know where you live but in the winter, a lot of this country is super cold, and in the summer, if you are in a place like Phoenix, you will melt. It’s very seasonal. If you are going to door knock, also implement cold calling as well. “How long do you need to prospect? How long do you need to be proactive to get a deal? How long does it take you to get paid from your first conversation with that distressed property owner to the time that they wire the funds into your account? How long is that on average?” We are starting to roll and get results. We are starting to get predictability in your business.
That concludes part 1 of this special 2-part series. Be sure not to miss out on part two of the series. See you.
- Tom Krol – LinkedIn
- Brent Daniels – LinkedIn
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, “don’t-wait-around-for-business” attitude to help you CRUSH your wholesaling goals as quickly and easily as possible!