Posted on: August 31, 2020

If you think you need to have extensive wholesaling experience to dominate an ultra-competitive market, think again! Today’s guest is dominating his market. And he’s only 19!

Riley McGarity is a determined and hardworking young man who knows what he wants. While he has experienced several bumps along the way, Riley remained steadfast. With the right mindset (and the right guidance!) he was finally able to make things work.

If you can use some practical tips, wisdom, and inspiration from a smart 19-year-old, this is one episode you shouldn’t miss!

Key Takeaways

  • What got him into real estate
  • What his parents thought about him not wanting to go to college
  • When he started cold calling
  • When he got his first deal
  • Why it’s important to have a partner
  • Practical advice he wants to share with the listeners
  • His biggest fear when he first started out
  • Why it’s important for sellers to like you
  • How to not obsess over a prospective deal
  • How people can reach out to him

RESOURCES:

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Episode Transcription

Lauren Hardy:
You’re listening to the Wholesaling Inc Podcast. I’m your host, Lauren Hardy. If this is your first time listening, welcome. You are about to listen to an awesome episode with Riley McGarity. Riley, welcome to the show.

Riley McGarity:
Hey, Lauren. Thanks for having me. How are you doing?

Lauren Hardy:
I’m good. I’m good. Hey Riley, where are you from?

Riley McGarity:
I’m from San Diego, California. A couple hours from where you are.

Lauren Hardy:
Yeah, that’s right. I’m in Orange County. You’re in San Diego, a couple hours away, but very similar real estate market. Riley, I know, I have to ask, you are younger. Do you mind me asking your age?

Riley McGarity:
Yeah, I’m 19.

Lauren Hardy:
Oh my god. I had no idea you’re that young. Okay. I knew you were young, but I thought you could legally drink. I didn’t know you were that young.

Riley McGarity:
Not quite, no.

Lauren Hardy:
Okay. Wait. That’s crazy. I really I’m actually shocked. I really didn’t know you were that young and now I’m like, oh my gosh, how cool. Riley, you’re only 19 years old. You’re ridiculously young for being how responsible you are. What got you into real estate?

Riley McGarity:
Honestly, I think it was just how most people get into it. They’re online. They’re trying to look for some way to make money. That’s how it started out was because I realized that I really didn’t want to go to college and I really didn’t want a normal job. Because I had experimented with the normal job for a couple of weeks and I hated it. I had to figure something out. I tried a couple other random online business models that I just really wasn’t passionate about and they didn’t really turn out to be anything. I came across some random video and then just went through a month of YouTube university and went from there.

Lauren Hardy:
Okay. That’s hilarious. You were in high school, you’re approaching college age and you just decided like I’d rather die than go to college?

Riley McGarity:
Yeah, up until my junior year of high school I was planning on going to college. I had a college set out that I was going to go to. Then I visited a couple places and I saw what it was like. I was researching more into it and I just realized that’s not the route I wanted to go. Especially with after graduating high school, I didn’t want to do that another four years.

Lauren Hardy:
What is it about college? Why did you not want to go?

Riley McGarity:
Because they’re not talking about anything that I’m really passionate about. I mean, I couldn’t even find a degree that I was really passionate about getting and I just couldn’t see how that could help me in my life. I know for a lot of people it does and that’s definitely the right path to go. For me, I had to figure something out, and fortunately that was wholesaling.

Lauren Hardy:
That’s awesome. Well, yeah, college isn’t for everybody. I think that that’s really cool that at such a young age, you know that about yourself. You have a strong sense of who you are. That’s cool. What did your parents think when you were like I don’t want to go to college? Then [inaudible 00:04:10] houses.

Riley McGarity:
They weren’t really on board with it. Obviously, they supported whatever I wanted to do, but they did want me to go to college. I had been planning on just starting to go to community college just to at least be doing something. Because I was wholesaling for quite a long time and I was getting nothing. I was just losing money every single month. Then I finally got that first deal and that started the momentum. Then I just said, yeah, I’m not going to go at all.

Lauren Hardy:
Tell me about when you started wholesaling. You started the process and then when you got your first deal, when was that?

Riley McGarity:
I started in October of 2018. That’s when I just started learning. I spent about a month just listening to podcasts, watching videos, listening to a hundred Wholesaling Inc episodes and just went through the whole learning process. Then I just started taking some small action steps. I started cold calling. This was all in San Diego. I’ve been trying to get to deal in San Diego for a little over a year. I got one contract that fell through, but nothing other than that. That’s when I decided that I’m going to try virtual. I knew that a couple of people had success with it. I learned as much as I could. Then I just found a market, started marketing there. Then it took about three months until I got my first deal.

Lauren Hardy:
Okay. When did you get your first deal?

Riley McGarity:
That was in December of 2019.

Lauren Hardy:
Okay. You went basically a whole year. You were doing it in your backyard, San Diego. I know what you’re going through because I’m in Orange County, it’s a very high priced area. A lot of the techniques that you probably would hear about on YouTube university did not really apply in those high price markets. A lot of people don’t realize that. When you’re newer, you just think, oh, well it worked for this guy in Idaho. Like, of course it would work in San Diego, California where house prices are on average $750,000. You didn’t know that because they don’t… Even the guy in Idaho doesn’t realize that. He’s not in California. It’s not until you try and you try for a year. I had that exact same experience. It was very frustrating. Yeah, the high price markets, the West coast, California, New York, Miami. I know we can commiserate with each other a bit. You finally picked a virtual market just out of like, what took you there? How did you figure out what market you wanted to be in?

Riley McGarity:
I was just tired of Southern California. I knew I had to pick something quick because I didn’t want to just be sitting around doing nothing. At that point I had already given up on SoCal and I was just searching for another market. Going through a Facebook group and I saw someone made a post, a virtual wholesaling post and I just started messaging with them. Like, what market? Where are you in? How did you choose that market? They told me they were in a couple of different markets. One of them was Wichita, Kansas. I was like, I didn’t know anything about Wichita. I didn’t know the house prices over there, the amount of investors over there. He did a deal signed and it was possible. I just was talking with him back and forth. I was like, hey, if I put some marketing dollars in that area and I happen to get something under contract, can you dispo it for me? He said, yeah, sure. Just start marketing. If you get something, let me know. That’s what I started doing. It still took me a couple of months, but it was a lot quicker than SoCal.

Lauren Hardy:
Right. Exactly. It’s interesting. You didn’t know anything about Wichita. You were trying to find a virtual market. I always give my first piece of advice when you’re trying to find a virtual market is just search for the proven concept. That was instinctually what you did. You didn’t know this. You weren’t a part of my program at the time, but that is my first piece of advice is find an area where other people are doing what you are trying to do and they’re doing it successfully. You found someone in Wichita closing deals successfully. You thought, well, if he could do it, I could do it. Right?

Riley McGarity:
Yeah, exactly. At that point I was pretty scared of competition. I wanted to avoid that, which it’s not a bad thing to get some competition in your market, but I wanted to avoid that at all costs because I just wanted to get a deal done as soon as possible. Even if it was like two or three grand, I just wanted to know that it was at least possible. Because at this point I was starting to doubt myself and I was thinking like, man, if I don’t get a deal in the next couple of months, I might just try something else because this is just wearing me out. As I saw that he did a deal and I was like, all right, I haven’t heard of anyone else doing deals in this area besides this guy. I thought, if he has a buyers list over there, if I can just lock something up for dirt cheap, then I’m just going to see if he can dispo it and at least get a deal done.

Lauren Hardy:
Right. That’s definitely really cool. Then you did one deal and then what happened next?

Riley McGarity:
I did my first deal with my JV partner. That was like a home run deal. I got super lucky on that one. I almost actually threw that lead away. If it weren’t for my JV partner telling me to keep following up with them, I would not have gotten that deal. They originally were asking $80,000 for the house and then we ended up getting it for 40, and dispo-ing it for 69.

Lauren Hardy:
Wow.

Riley McGarity:
We got that deal. We closed on it. I made my marketing budget. I just started doubling the amount of texts I was sending out and the amount of offers I was making and started building some momentum.

Lauren Hardy:
That is a home run deal for your first one, for sure. That’s crazy. Your first deal, a seller comes in. You almost threw it away but it wasn’t for having a mentor or a partner, JV partner telling you to keep going, keep following up. They started out at 80. I always say that, that a seller is never going to offer you a discount on their house. That’s pretty rare. They’re always going to come in high and it’s really in the followup that you get them down on their price and you did that. You got them down. You got them 50% off and you locked it up. The JV partner handled the dispo and you’re done. Now you’ve got this fat fee that now you can put into your business for more marketing and to double down.

Riley McGarity:
Yeah, I’m super thankful for my JV partner because yeah, if it weren’t for him, I don’t even think I would have gotten that deal. I mean, they were asking 80. We couldn’t have even sold it for that much. If it weren’t for him just telling me like, no, keep talking to him, keep following up, then that wouldn’t have happened.

Lauren Hardy:
That is the other advice I give is like a JV partner. A good JV partner is the difference between you doing deals and not doing any deals. I mean, it sounds like that was a big pivotal moment for you. Not only just making the pivot to a different area, but having that partner to keep you going.

Riley McGarity:
Yeah, and that’s super important. I mean, even if you are doing in your local market, I would still say get a JV partner.

Lauren Hardy:
Absolutely.

Riley McGarity:
My first deal had closed late December and then I’d done a couple more, but they were way smaller. I just wanted more consistency. I wanted to learn the ins and outs of virtual because I didn’t really have a virtual coach. I was just learning on my own, because my JV partner, that’s his market. He didn’t do any virtual stuff at the time. I was listening to Wholesaling Inc. Then they had mentioned you were going to join the program and start a virtual coaching program. I literally, as soon as I got done listening to that podcast, I scheduled a call.

Lauren Hardy:
That’s awesome. You were one of my first students, so yeah. That’s really cool. I mean, yeah, I had no idea how young you were, but I definitely knew. I think I said it from the beginning, like Riley, you remind me of me. There’s something about when I got started, a lot of the questions you asked, you asked really good questions. You work really hard. You’re very consistent, and that’s what I like about you is you actually do the work. You make offers, you talk to sellers, you really do the work. I love it, [crosstalk 00:12:34].

Riley McGarity:
The worst place to be is analysis paralysis. I hate being in that state of mind so much that I have to just do something, even if it’s not really the right thing to do at the time. I may not know what the right step is, but anything is better than just being in that state of mind of not knowing what to do and being stuck.

Lauren Hardy:
I can’t agree with you more. Maybe you’re lucky that you’re so young that you don’t know any better so you probably don’t get in analysis paralysis as much as maybe somebody in their 40s who’s had a little bit… Sometimes life experience it’s great in some ways, but then it also makes people afraid. The more you know, the more you know, and you get stuck and you overanalyze what you’re doing. Maybe that is part of it is like that you don’t really overanalyze and you just do, and that’s really cool.

Riley McGarity:
It hasn’t been the best thing at times. I’ve locked a couple of contracts way too high and sellers have gotten super pissed off at me. Luckily, I haven’t been sued, but yeah, I guess there’s a downside to it.

Lauren Hardy:
Right. You know what? I think that that’s very common. I mean, what you’re telling me is something that does happen. It’s very common. I think it happens to everybody when they’re figuring out the market. What would you say, I mean, do you have any practical advice as far as maybe something that you got from your journey or just anything that you can share?

Riley McGarity:
Yeah. Well, one thing that I got from your program, this is something that I wasn’t doing before was continuing to plant seeds no matter how many contracts you have or how many deals you think you have. Literally, even if you lock up a deal that you think you’re going to make 50,000 on in the next two weeks, the next day, do exactly what you did to get that deal and keep doing that every day. Because if you just focus on that deal and you rely solely on that deal closing, by the time it closes, you’re going to have a completely dry pipeline and you’re going to have to rebuild. That was one thing that really hindered my growth in the beginning was the fact that I would get something under contract and I’d be like, okay, sweet, I got something under contract. [inaudible 00:14:43] with my JV partner, see if he needs me for anything.
Then I’ll probably just do some follow ups here and there. Then that property, it would close. I would get my assignment check and then I would have to completely rebuild my pipeline all over again. I wouldn’t get a deal for another 30, 45 days. Once I joined your program, I started asking these questions and you would help me with these things that I was really struggling with because I just wasn’t growing. I wasn’t having any consistency in my business. That really stuck with me. Every time I lock something up, the next day, I just make sure I do exactly what I did to lock that contract up.

Lauren Hardy:
Absolutely. Honestly, I mean, I know that because I did that. I made those mistakes when I started, a lot of people do. What I noticed is like you just needed some refining and some rules when it came to your processes in your lead generation. We needed to consistently put out marketing so you’re consistently generating leads every single day. Doesn’t matter how many contracts you locked up, that you are consistent with your lead generation because today’s leads are three months from today’s deal.

Riley McGarity:
Exactly.

Lauren Hardy:
People don’t realize that. If you stop today for a month, in three months, you’re going to have a dry month. I always tell people that around Christmas and the holidays, if you stop during the holidays with your lead gen, and I know, I mean, a lot of us do. I will stop on Christmas the week of, because it’s a little rude to call people on Christmas. But be careful, if anything. I want to double down the first two weeks of December so I’ve got more leads coming in. That can allow me to take that break for a week because I know that I do not want to have a dry February, March. A lot of people do that. They’ll take December off completely. They’ll take from November to December off and then they’ll wonder why quarter one is terrible for them.

Riley McGarity:
Yeah, exactly. I would get a deal closed at the beginning of one month and then the next month I’d be like, all right, I’m just going to go extra hard this month. I’m going to send out twice as many texts, talk to twice as many people to make up for that. Then at the end of the month, it’s like I made the same amount as last month or even less. It’s like, well, how does that work? It’s because you went a whole month, 30 days without really doing any lead gen.

Lauren Hardy:
Right. If you do it where you like double down, I take the double down approach only in the holidays, that’s a special time. If you are consistently doing that, so say you were doing that four times a year where, oh, I got a contract so I can chill out and work on this contract. I hear that all the time. Like, I got a deal, I’m just busy working on this escrow. What are you working on? There’s nothing to work on. Give it to an escrow officer and get back to your lead generation. Like, what are you doing working on this deal, putting this deal together? I hear that all the time. I’m like, you guys got to stop working on your deal, work on getting more deals. But if you’re doing that four times a year, I mean, that’s exactly why a lot of people have this lopsided snowball effect where you think you’re getting a snowball effect and then it becomes lopsided and falls on its side and you can’t get the snowball back over again. I mean, I know it because I did it. I was the same. I got started and I had the same things and I know all the things that new investors do because I did them myself.

Riley McGarity:
That’s the thing with having a JV partner. The point of having a JV partner is so that you can focus solely on lead gen and locking up contracts. Because once you get a contract, there’s really not much that you have to do from that point. I mean, send the title company the contracts, get escrow started, send them all the seller and buyer contact info and then you just need to start lead gen again.

Lauren Hardy:
Exactly. You just said it in literally 15 seconds what all you have to do. Then there’s people though, they’ll be like, I’ve been putting this deal together for two weeks. They don’t do anything. They don’t make a single offer on a house. They don’t do it because they’re literally just staring at their emails about a deal and calling the escrow company every day making sure that they’re going to get that check. Really, they’re doing themselves a big disservice because also, and I mean, there’s something to say too. When you have all your eggs in one basket, you are depending on that check closing instead mentally you need to think about, oh no, I’ve got plenty of other deals in the pipeline. If this one doesn’t close, it’s not that big of a deal.

Riley McGarity:
Yeah, exactly. I found myself relying on one deal for the entire month. I definitely learned my lesson with that because for an entire month I’ve been relying on this one deal to close because this is going to help me with my marketing budget and do more deals, generate more leads. I was just relying on that. I wasn’t doing anything else. Then the closing day came and the lady walked out of closing. She said, no, I’m not doing this. I want you to pay for my back taxes and then she walked out.

Lauren Hardy:
Oh gosh.

Riley McGarity:
We had to figure that out. We ended up getting it done. I made a little bit less because we had to pay for her back taxes. She was pretty stubborn, but that was definitely a learning experience. That showed me, you can’t stop lead gen, you can’t stop planting those seeds because rarely will you come across that low-hanging fruit where you text them and the same day you get a contract.

Lauren Hardy:
Never happens. For sure. What was your biggest fear? You are newer but you’ve got some experience. Take me back to when you were first closing deals, what was your biggest fear?

Riley McGarity:
I mean, my biggest fear was not getting one at all.

Lauren Hardy:
Just not getting a deal.

Riley McGarity:
Yeah, that’s my biggest fear. Then I think just losing money. I was really afraid of losing money on a deal. Then having a seller get super pissed at me and then hire a lawyer or something to try to come after me, I was pretty scared of that too. I would hesitate on certain deals if I didn’t know it was a deal. If I thought maybe it could be, I just wouldn’t lock it up because I don’t want this person to get mad at me.

Lauren Hardy:
Yes. I mean, you just threw out a lot of fears and these are all, I always like asking the fear question because these are things that we all go through and I had all those same exact fears. I would say the first one, and I bring that up with KPIs. I always say, if you’re closing, how many contracts, how many deals you are closing is one out of one. For every one contract you’ve gotten in the last year, you’ve closed every single one of those contracts, that tells me you are not locking up enough contracts. You think that sounds good? Like, oh yeah, I closed 100% of all the contracts that I lock up. But no, no, no, that actually isn’t good because that means you’re being too conservative. What you’re just saying is your fear is unfortunately though you need to get past that fear to be more successful because you do need to actually take some risks on houses that you’re not 100% sure about. I’m not giving legal advice.
I’m not an attorney and I’m not even pretending to be one. But if you can get your attorney to look at your purchase agreement and you make sure that your purchase agreement protects you and gives you that inspection contingency and that inspection time and due diligence time that you need in that contract, you should be protected in that scenario. Will the seller get upset? Sometimes, but, and I’ll give what I do in my company. We overcommunicate in our company. I tell the seller everything from the get-go from the first conversation. I let them know we are investors, we’re house flippers. We’re going to buy the house to fix it up and resell it. Sometimes we assign our contracts to high volume landlord buyers. I give them a spiel. I actually have a script, for free, I give away. If anybody is listening to this, if you go to www.thismomflips.com and you opt in, you will get my free seller qualifying script where you will see… Riley, you probably saw that script in the course.

Riley McGarity:
Yeah, I use it every time.

Lauren Hardy:
Yeah, you use it, right? You see, I overcommunicate. I tell them everything. I’m not being secretive about who I am and what I do. The first thing I want to do when I talk to sellers is at least tell them who I am and what I do within the first minute of the call. Right there now the seller knows like, okay, this person Riley has to make money on my home. If it comes to inspection time and the house is in disrepair and I didn’t describe the house accurately, Riley might come back. I let them know in probably the second, third call when I’m delivering the offer, and then when we’re locking up the contract. I do let them know, and we need to inspect, and as long as the house is in the same shape you described it to be, we should be good.
But just that you know, Mr. Seller, that we do need to inspect the property. We haven’t seen the home, but based on the comps in the area for similar homes like yours that have sold to other investors, we need to be at this price. That lets the seller know. That preps them that, hey, there is a chance that when they actually see the property in person, that we might not be at that price anymore because of the property needs a new roof and the seller didn’t tell us about the roof. Usually I’ve noticed with my script that I gave you that in the course, it has reduced our getting yelled at by probably 80%. There’s still like 20% that’s going to just get mad because they couldn’t pull one over you.

Riley McGarity:
I’m working on one like that right now where I had locked the contract up at a certain price, and then my JV partner did the inspection and there’s a ton of termite damage. Now I have to go back and ask for price reduction. Even if they do get upset, you’re really not in the wrong because you had prepped them for that in the beginning that that could be a possibility. It’s 50/50.

Lauren Hardy:
Exactly. Remember that, you are not in the wrong because they didn’t tell you about the termite damage. How are you supposed to know? They know that you locked it up over the phone. You tell them, Mr. Seller, listen, I’m on the phone right now and I’m giving you pricing right now. If we can agree on this price like we are on the same page, but I do still need to inspect it. A lot of sellers will say, well, why don’t you come down and inspect it first? That’s when you tell them, Mr. Seller, we are working on so many houses. We have so many sellers that call us every single day that we can only work on the most serious sellers, the ones that are ready to execute now. What we found through years of experience is when we inspect the house first, the seller often pulls out, isn’t that serious, has often used us as giving them a free appraisal on their home. They’ve kind of used us. I mean, that happens several times a week where we would go and we inspect a home and then the seller would last minute say, just kidding.
I don’t want to sell, or I went around and I took your pricing to 10 other investors and I got a better price and now I’m going with them. Well then why did you waste my time coming down? I just explain it through storytelling to the seller that this is why our process is the way it is. We need to lock this price up over the phone so we are both committing that we are serious about the sale. Now I will get in my car, I will drive and I will go look at the property. But I am not getting in my car, I’m not getting out of my desk until I have it in writing that you’re serious about selling your house.

Riley McGarity:
Yeah, exactly. That’s going to happen a lot. Some sellers are just going to use you as a free offer generator and they’re going to get your offer, they’re going to write it down. They’re going to go to every other investor that they’ve talked to. They’re going to say, hey, I got this offer. How much can you come up? Then they’re going to sign a contract and you’re never going to hear from them again. That happens all the time where I think I have a really great deal. They seem pretty motivated. Then I try to contact them multiple times. They block my number. Then I’ll check the county a month later and some random LLC owns it. It’s like, okay. Well, there’s nothing you can do about that.

Lauren Hardy:
Exactly. I mean, that’s why I also say as far as my sales philosophy and negotiation philosophy is just get the seller to like you on the first call. Your goal is to get the seller to always like you, because if they like you enough, they will feel bad that they blocked your number or that they didn’t give you at least the option to come up on your price. They will feel bad. If they like you, they will answer the call and be like, okay, listen, I did talk to another investor and he offered me 5,000 more. At least that gives you the opportunity to see if you can come up $5,000, you know? If you stay up on them enough, if you know that they need to sell, they should stay in a category in your CRM because you know they need to sell. Just stay on them.
They will communicate because you already made friends, you got them to like you. They will communicate with you what they’re doing. You can get it out of them. Then that’s when you can slip in, well, oh, so you talked to another investor? Well, what they say? You want them to feel bad because they like you so much and then every time you follow up, they have to come up with some lie of why they haven’t signed your contract already. That’s when they’ll probably reveal that they talked to another investor. That’s when you say, well, where’s the investor at? What price are they at? I always ask if they say they’ve talked to anybody else, I always ask, what price did they give you?

Riley McGarity:
Yeah, exactly. One thing that’s also helped me a lot when we were on another Zoom call, I think a few weeks back and you were talking about a deal and you said it was never yours in the first place. That’s helped a lot because I find myself so fixated on certain leads that I think are going to be really great deals and then it ends up falling through and I get really mad. I get upset and I don’t really want to do anything the next day, but it’s true. That property, that deal was never yours in the first place. It’s not yours until the check comes to your door.

Lauren Hardy:
Absolutely. I do love saying that because it’s something I used to do. I used to do the same thing. I would get so hung up on a deal and all I could think about was this deal. Then if it wouldn’t close or if I lost the seller or whatever, I would be devastated. There were times I legitimately cried losing a deal, because at the time this is like I was flipping houses in California. I was like, that was $40,000. Then it was like, Lauren, it was never yours. It was never yours. It was never yours in the first place. If you were generating more leads and focusing on your lead generation, you would have had five other possible $40,000 pay days so you wouldn’t have been so hung up on that one. It is like Buddhist philosophy of letting go of your attachment, but like let go of that attachment to that particularly motivated seller. It just makes me chuckle. It’s like, that’s cute.
When the newer investor gets really hung up about one seller lead that they got, like I got a great lead today. She inherited the house from her mother and the house is vacant. I’m going to sit for three hours and figure out the perfect offer price. You know what? I’m going to jump in my car. I’m going to drive by the house. I haven’t even talked to her really yet, haven’t even talked price yet but I’m going to get my car. I’m going to drive and I’m going to take photos and walk the property. Then I’m going to think some more about my offer price. Then I’m going to call her and I’m going to present my offer to her. I mean, I can’t tell you how many people, right? You’ve heard this story.

Riley McGarity:
Actually what I did.

Lauren Hardy:
Yeah, right? This is a classic newbie move over like one lead. You haven’t even determined if that lead likes you. You haven’t determined when that lead wants to sell, why they want to sell, who are the other decision makers in it. If they’re talking to a realtor, what kind of situation? Is selling to an investor even that lead’s best option? You want to make sure that this is a good idea for them as well. I hear that so many times, and I’m like, whoa, you are way too attached to that lead already. I could already tell you that’s not your deal yet. Instead, put them through my qualification, my acquisition spaces process. Do the qualifying script, get them to like you, get to know who they are, why they’re selling, and when they need to sell.
Get them to like you, to know you, to trust you. Deliver an offer. Don’t even dare get in your car and look at the home like hello, it’s 2020. Get on PropStream, get on Google Earth and look at it there. You don’t need to get in the car. You’re not making a presentation. Some of these, like I’m going to present an offer stuff. You’re not presenting anything. You’re not in front of a board of executives. Just come up with something that works like you think by maybe finding some cash sales in the area, minusing your wholesale fee. Make the seller the offer and see if you’re even on the same page.

Riley McGarity:
Yeah. Just give them a range to start off with just so you can see where they’re at. Because if you do that, then you’re going to be able to pump out way more offers. I remember I was doing three offers a week because I was just doing that. I would get this lead out cold call, I’ll talk to someone. I’m like, this is like, wow, this could be my first deal. I spent two hours researching the property and the mortgage info and who are the past owners, when did they buy it and like looking at all the comps. It’s like, okay, I can do $52,500 for this property. Then I call them and present my offer. They’re like, oh no, we want 78.

Lauren Hardy:
I know, right? You borderline just stalked the seller, like in everything about them like you’re a backup investigator just to come up with 58,500. You could have easily gone on like talk about letsgooffer.com. You could easily have signed up for letsgooffer.com. Come up with an offer range, give the seller that range. See if the seller is at all mentally in the same place as you, then go back, refine your number a little bit. Okay. It’s fine. Go back and maybe hem and haw about your exact number you want to give it. Call them back. Give them the 58,500, at least you know the seller was on the same page as you. You have a range that you know where you can come up from, lock it up. I mean, you could do all of that in 20 minutes.

Riley McGarity:
Yeah, and I was giving my NAO for the first initial offer.

Lauren Hardy:
That’s awesome. I mean, we all make mistakes in the beginning. That’s why you came to me to like, okay, let me give you the rules. Just play by my rules. Promise me you’ll play by my rules. Then as long as you play by my rules, you close 10 deals and you can do whatever you want. Make up your own rules, that’s fine. Well, Riley, I love that you’re doing very well. I love getting to know you. I think it’s now even more exciting that I know how young you are. If anybody wants to reach out, are you on any of the socials?

Riley McGarity:
Yeah, I would say either Instagram or Facebook. I’m on those a lot. My Instagram is just my first and last name, Riley McGarity. You can reach out to me there. Message me on Facebook, ask me anything. I mean, I’m not really the most qualified to be giving advice, but I’ll answer whatever questions I can.

Lauren Hardy:
Awesome. Awesome. In this show, I’ve mentioned a few things. I talked about my coaching program. If you guys want to learn more about that, go to www.virtualinvestingmastery.com. We talked a little bit about letsgooffer.com. If you guys are interested and you want $10 off per month, go to www.letsgooffer.com. If you type in the code TMF, that will get you $10 off per month. All right, Riley, thank you so much. I wish you so much more success. I absolutely love having you a part of my coaching program. I can’t wait to see you close more deals. Man, by the time you’re 25, you’re going to be doing some big things [inaudible 00:35:50].

Riley McGarity:
Thank you so much. It’s been awesome, Lauren. Thank you so much.

Lauren Hardy:
Thank you. Bye.

Riley McGarity:
Bye.

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