Posted on: October 01, 2020
WI 527 | Reasons To Keep Going

 

How long are you willing to work hard and persevere until you get your first deal? Today’s guest waited for 10 long months and he’s now $97,566 richer for it!

When it comes to perseverance and commitment to his business, Fade Aromolaran is in a league of his own. The determined rhino from Columbia, Maryland had to keep the faith for 10 long months before he got to enjoy the fruits of his labor.

Nowadays, he closes gigantic deals and is on a roll! If you need some lessons on how to persevere and keep going despite the challenges, this is one episode you can’t afford to miss!

Against All Odds – $97,566 Reasons to Keep Going when You’re Ready to Quit!

Episode Transcription

Let’s start with a little thought. Do you know what the difference is between the big shots in this business and the little shots? I will tell you what the difference is. The big shots are little shots that kept shooting. That’s all it is. It is perseverance. I wanted to look this up because I wanted to understand what exactly is perseverance. By definition, perseverance is persistence in doing something despite difficulty or delay in achieving success.

That leads me beautifully, perfectly, and smoothly into this fantastic interview that I have on the show. I’m talking to someone here that had to go 10 months, over 300 days before getting a deal. Somebody that was focused and committed to his business, and then all of a sudden, things started popping and going. Now he’s doing gigantic, massive deals in Columbia, Maryland. It is my pleasure to introduce Fade Aromolaran. How are you?

What’s up? Thank you.

I’m excited to have you on here because the posts that you posted to our TTP family groups and that you texted me were inspirational and had so much impact. It was a story that needed to be heard. Everybody thinks, “I will get into this and get it done in 30 days. It’s like that interview I heard before. The first person that calls me, I’m going to get a deal,” but it doesn’t always end up that way. I want to peel back all the layers and find out how and why you stuck with this business. Give us a little background on you. Tell us what your life was like before you discovered wholesaling real estate.

I graduated from the University of Maryland in December of 2018. I found out about wholesaling the summer prior. I have always been into forward-thinking and entrepreneurship. I used to trade stocks and flip shoes. I’ve even got to a point where I was flipping calculators because they are looking for arbitrage there. I have always been into turning $1 to $2. I went to a Daymond John talk. Daymond John is the Shark Tank guy.

He had a meeting here in Maryland. One of his opening speakers talked about real estate and different ways of getting into it. They talked about no credit, no money down options of getting into real estate. I was like, “It’s not possible. How do you get into real estate with no skin in the game?” At the same time, I know that I don’t always know what I don’t know. I was curious and listening and was like, “Let me figure out what this is.” I ended up diving deep into YouTube university and getting to the bottom of it.

I was a Bioengineer back in college, so I was still going through school. I finished out my last semester. I couldn’t dedicate too much time to it but I told myself right before I graduated, “When I graduate, I’m not applying to anything. I’m moving back into my house and going to make it in wholesale. I know it’s possible. I know I’m going to do it.” That’s when I came in contact with Wholesaling Inc.

I was listening to the podcasts back in college. During that period, I dove deep into Wholesaling Inc. I’ve got in contact with the TTP. It was financially worth it to cold call. I was like, “Who do I learn cold calling from? How do I do this?” Your name came up. I had $15,000 saved up from an internship that I did a couple of years prior. I was like, “How do I put this money to the best use so I can learn?” I was like, “I’m going to make this commitment.” I did that. I learned a lot about cold calling and finally felt comfortable. After trials, it took me months and months to get my first one. That was December of 2018. I’ve got my first one at the end of September.

I’ve got through many dips and trials. I’ve almost got there but not yet. Mind you, I was living off of the savings. Part of it was education. I didn’t have any income. I wasn’t working anywhere. I was learning the business, living at home, and keeping my expenses low. I’ve got the first deal, and then it started rolling and rolling. When COVID hit, I partnered up with somebody, and that partnership fell through. I also decided to switch out of Baltimore to PG County. With all the follow-ups I had, I trashed all the leads and started up fresh. I had a dry period of maybe about three months or so. They have been rolling in.

It is a huge month and a huge deal, a few of them. You get out of college. Are you living with your parents? Are you in an apartment? Where are you making these calls from? You are not in an office. You are working for yourself. Where are you making these calls specifically? Is it in a kitchen? Is it a living room?

I started from the living room downstairs, and my dad was like, “I can hear you through the basement. You’ve got to go up to your room.” I’m in my room and make all my calls out of here. It has been working.

How is that? You sleep in your room. You have these goals, dreams, all these things going through your head. Do you get past it and stick to focusing on the work? Is it driving you crazy to be inside your room all day long making calls and then sleeping there as well?

The big shots are just little shots that kept shooting.

It’s like a cycle almost. The vision I’m in now is the same thing that’s driving me to keep going. I know people are making checks out here. I know that this can take care of my family. I have to keep making these calls to get out of this position. It’s because I put my back up against the wall. I have no options. I didn’t apply for a job on the side or anything. I missed the whole hiring cycle. I had to cold-call. That’s the position I purposely put myself in. I can make it work.

The beautiful thing is you were smart enough to be 22 years old with $15,000 that you had saved up and not go, “I’m going to throw this all into marketing and hope something happens.” You are like, “No. I’m going to keep a lot of this money and make more. I’m going to bring these deals based on my efforts, not based on my marketing. I’m going to prospect for these opportunities. I’m not going to go out there and send advertisements out.” That’s smart.

Especially for anybody reading this that doesn’t have a huge budget, you can trade your talents, skills, and voice for the big bank account that you would need to be marketing to have people call you. Remember, when we look at this business, there are only three ways to generate leads. One is to wait for them. Try to get referrals from the people that you know.

2) Is to buy them through traditional marketing, direct mail, pay-per-click or internet leads. 3) Is to go out and earn them. Those two main ways are to go out and knock on doors or pick up the phone, make the calls, prospect, and try to have quality conversations with distressed property owners as often as you can.

The fact is that’s what this business comes down to. It is the heart, foundation, and the key to this business is consistent quality conversations with distressed property owners. When you started, how did you feel you? You had never had a conversation with the distressed property owner. How was that? How did you feel comfortable with that? Walk us through that process.

You talk about these things all the time. For somebody that’s never heard it before, you don’t necessarily know what to look out for. You are going in blindly and hoping that you get in contact with one of these people that a deal comes from, and then you think back and you are like, “That was a motivated seller. That’s exactly who they were talking about.”

If you have never completed a deal, you don’t have that proof of concept, you are shooting blanks. Over time you get in contact with different types of sellers, and intuitively, you can gauge motivation. My process throughout that time was learning different types of people and who you are going to get business from and never going to get business from. Also, learning all those softer skills.

Part of me is grateful that it took me so long because it proved to me that I wanted it, for sure. It built up those softer skills. Throughout the time, I built a network of people, and people knew how serious I was. Now people send me leads because they know I do this full-time and know what I’m talking about when I say stuff.

You are not going away. We have big goals when we get into real estate. We want to own real estate. We want to do some special things. It starts with the foundation. The foundation is understanding how to find deals and source those real estate opportunities. You can take all the coaching, the mentoring, the support, and the mindset. Get pumped up and get an exciting type of work that you can put into your brain. Until you are knee-to-knee, belly-to-belly, and face-to-face with an actual distressed property owner, you have to work off of faith.

All of a sudden, it starts chipping away, and then it turns into fact. As you said beautifully, that’s when you start working on those soft skills. That’s exactly what it is, it’s being there. It’s having that empathy and that kindness. It’s also understanding that you have to go in there with certainty and confidence for them to trust that you can get the job done. Was that tough for you? Were you naturally a confident person? I would assume you go on appointments now, and it’s like a gunslinger. You are pre-qualified. You know what’s going on. How do you feel about appointments? Talk to me about that.

I went on an appointment with another wholesaler, and I’m bringing him on board and stuff. He went on the appointment, listened to my whole thing and was like, “I was convinced. I thought you were a buyer. You are comfortable.” I have done it so much, I deeply understand what wholesaling is. You could easily be a buyer.

Here’s the absolute fact. If anybody doesn’t have confidence in this, if you go in and get a smoking hot deal, there is a line out the door of people that will joint venture with you to close that deal. They will bring money to the table for the opportunity, 100%. You should have the confidence that you are the buyer. You should be going there with the intention to buy. Every property that we go after, I have the intention to buy.

WI 527 | Reasons To Keep Going

Reasons To Keep Going: Learn different types of people. Learn who you’re going to get business from and who you’re never going to get business from.

 

Do I wholesale and assign 95% of them? Absolutely. Maybe 90% of them. Now you feel confident closing on every single one of them because they are great opportunities. If you are reading this, and you are like, “I don’t know anybody. Everybody is broke around me.” Go to some of the meetup groups. Join some of the Facebook fix and flip groups.

Find the people that are doing business, have a conversation with them, and say, “If I found a smoking hot deal, would you be my money partner?” You could get 4 or 5 people like that and have all the confidence in the world. Walk around like you’ve got $1 million in your pocket, and then all of a sudden, these conversations get easier.

I’m actively teaching people. I’m helping people that are trying to get into the business as well. One thing I try to tell them is one of the more important things is being able to identify value, too. It’s not just being able to source them out and stuff but being able to say, “This is a valuable venture. If somebody were to buy this, it would provide value for them.” Also, being able to go to a seller and identify whether is the most valuable thing for them is the price? Can they compromise and get something else that’s even more valuable to them?

All those things allow you to then go into a property after learning those things, talking to buyers, and identifying how they identify value. You can go into a property now with a bunch of more cash in your pocket and know exactly what you need to do to lock up a deal for a good price. That is truly valuable. That’s a great part of this business. You are training us how to get out there and create these opportunities.

You are doing it. We talked about this beforehand. You were giving me a lot of wonderful compliments and I was saying, “You do all the hard work. We are your guides. We’ve got the blueprint. We’ve got the plan but you are the one that has to implement it.” This isn’t education. This is instruction. This is a step-by-step.

This is what you need to do to be successful as a real estate wholesaler. We will get into what your big plans are in the future. Let’s break down this massive deal that you’ve got. I’m excited to learn how you found it. What were their motivation, condition, and timeline because this one popped quickly? Why don’t we break down this deal real quick and get everybody excited?

I called them for the first time in a straight cold call. It turned out to be his son because his father doesn’t usually use his phone. It’s his father’s phone but he doesn’t use it. His son uses it. He said, “Call me back.” I added it to my follow-up like any other lead.

What distressed list was it on? For everybody out there, what we are talking about here is you want to call the distressed property lists. There are certain different criteria for each one. What list was this one on? Do you remember?

Yes. They are indicators of motivation. This particular one was a tax sale list, where they have a lot of equity, if not 100% equity. For some reason, they are not paying for the taxes on the property. It has gotten to the point where the county is preparing to take the property back and sell it to another investor because these taxes aren’t being paid. I downloaded that list.

As they say, “The best lists are the ones that you don’t pay for.” This was completely free, and I had to pay for the skip tracing. It was straight from the county. I downloaded it. I cold-called multiple times. This one, He didn’t say yes on the first call but he also didn’t say no. I know for a fact that if somebody doesn’t want to sell their property, they will tell you no flat out from experience. He didn’t say no. He was like, “Call me back.” I was like, “What do I make of this?”

I kept on calling. I probably called him seven times. We had a legitimate conversation about the house and the situation. I called them at night. His father is there. I talked to his dad and I’m like, “Can you tell me a little bit about the house?” He said, “There’s a water issue.” I asked him how much he was hoping to get for it and he said, “$60,000 to $100,000.” It’s a huge range. I was like, “The next step is setting up an appointment so I can just look at the condition of the house and see what we have to do.” I get off of the call. I opened up the MLS, searched up the property, and three doors down, a property sold $171,000 cash. This area is $310,000, $320,000, and I’m surprised.

Was there something about the property tax list that made you want to dig in deeper? Was it something that he said? Did you pull it up as you were talking to him, and you saw it, and it looked like it was in really rough condition? What made you stay in the saddle for seven calls getting barely little tidbits of information and not getting that full quality conversation? What was it that stuck out? When you run across these opportunities, a lot of people, as they are starting, will get rid of them early or keep them for too long but they are not leads. What was it about this lead specifically that made you want to go all the way through with this?

Perseverance, by definition, is persistence in doing something despite difficulty or delay in achieving success.

Through experience and learning different things throughout this whole time, I have realized that if the seller wants to sell, you can monetize it. To me, a lead is anybody that wants to sell. I can sub to it. I can sell or finance it. I can wholesale it. I can send it off to a realtor. I can short sale. I can do all these things that, independent of where the mortgage balance is, we can work with it. If I ask them about their property, confirm who they are, ask them about their property, and confirm it’s theirs and they don’t say no, I continue to call.

You’ve got a lot of tools in your toolbox, for sure, with all the different techniques that you can go after them. You are right, the most important thing there is 1 of the 4. What you are talking about is if they want to sell, the next thing you want to find out is their timeline. When do they want to sell? Some people do want to sell but they don’t want to sell or have talked about it for a long time.

You need to understand, do they want to sell in the next 30 days or the next day? When they start telling you stuff like, “When do you want to get your money for the property?” They are like, “Yesterday.” You are like, “We’ve got something going on here.” It’s important to ask questions if they want to sell about their timeline.

I ran through the four pillars as soon as I had the actual conversation with them. I’ve got the father on the phone. He told me the condition was pretty bad. I already knew I was going on the appointment from that. He said that he wanted to sell super quickly and that it had been vacant for a year and a half. I knew they weren’t living in it. This was a pain point. They hadn’t paid the taxes. The reason why was, it was already built into the first two points. His price, right out of the gate, hit all four of the pillars. That’s why the spread was big.

If you get the condition of the property, timeline to sell it, their motivation for selling it, and their price, that is a solid appointment. You show up and get that signed up. He wanted between $60,000 and $100,000. Where did you land?

I told him that we would get an appointment, and then he pushed me two weeks out. I was like, “This is a great deal. I need to lock it up.” I called him a week later and was like, “I know you are disabled and don’t want to go out to the property yourself. I had a guy swing by. I had somebody. We have what we need. It is about getting priced. What’s the best you can do on this property? We are close.” He’s like, “$75,000.” I said, “Is that the best you can do?” This is all from you. It’s insane. He said that he would take $50,000 for it.

It’s through asking him that question.

I didn’t even negotiate with him. I was like, “Is that the best you can do?” He said, “$50,000 is the least I will take.” I was like, “Let me talk to my partner. I will call you back in fifteen minutes. Is that okay? Let me confirm that the numbers are right, and we can get this done.” I was in my seat dancing for fifteen minutes. He thinks I’m talking to my partner and all that. I called back and was like, “We have to go back and forth but we can get it done for $50,000.” He was like, “We can get it. You can draft something up.” I was like, “What’s your email?”

It’s not like I’m pushing the sale. All of the textbook stuff is using the skills that you taught. I sent him an email and didn’t sign it until two days after, so there was some stress there. He eventually signed, and then I started marketing for a buyer. I had to go to the property to take pictures first because I hadn’t been there yet. I had locked it up on sight on scene. I marketed. There was a lot of interest because of the price point. If anything is below $200,000 in PG County, which is where I market, you are going to get a lot of interest. It’s because of the water in the basement, I had some pushback on the price. Eventually, I had a guy who bought it for $150,000. That was $100,000.

What did you net on this? In your account, living in your parents’ bedroom, how much was wired into your bank account?

$97,000.

It’s from one phone call.

It’s from following up.

WI 527 | Reasons To Keep Going

Reasons To Keep Going: One of the most important things is being able to identify value.

 

Others did it on a lot of phone calls but it was initiated from one phone call. That’s what happens when you are being proactive. People are like, “You can’t get deals like that in this market. It’s crazy.” Yes, you can. Every day of the week or the year, people are getting big, massive deals because they are taking action, being proactive, using these skills, and having these conversations. They are getting people that originally wanted $100,000 down to $75,000, down to $50,000, and then got it out there and made $97,000 and some change. It’s incredible. That’s life-changing. It changes your brain chemistry. It allows you to understand that there’s so much out there. There’s much potential.

I don’t know if you have ever felt this way but I used to look at these big houses and big things and I would be like, “How do people get these things? What were they doing? Did they invent penicillin or something? What happened here?” It is being a value to the community. The more value you bring to the community, the more you make. It’s an easy equation. It’s an equation I talk about a lot on this show. They could have lost it to a tax sale, let’s be honest. They could have got $0.

Everybody that thinks that they own their property free and clear is silly. We all pay rent. It’s called property taxes. The government owns all the land. Let’s not spend this up. If you don’t pay it, they take it, and you don’t get anything. You went there, you solved their problem, stopped a tax auction. You put $50,000 in their pocket.

You gave this investment property to somebody that’s probably going to flip it and make another $50,000, $60,000, $70,000. You are the middleman of all this. This does not happen unless you pick up the phone and make the call. That’s the facts. You are the spark of all of this. That’s why you get paid $97,000 and some change.

It wasn’t even the only deal that I did that month.

What were the other ones? Add it all up for the month.

Everything was $130,000.

$130,000 from the bedroom. You can’t even do it in the kitchen or the living room in your parents’ house. You’ve got to do it from the bedroom where you sleep every day. You made $130,000 in one month. How does that feel?

It’s crazy. One of them came from a lead, and it was a short sale. It was a lot of going back and forth. That’s another thing with the perseverance thing. You’ve got to work it and follow up and work it some more. It doesn’t stop. If you don’t stop, at some point, it’s going to have to come to fruition. It’s great.

I’ve got two important questions to ask you. Will you tell everybody how to get in contact with you to give you a great job, some love or reach out if they are in the area? How do people get ahold of you?

You can text me at (443) 329-8780. You can also follow me on Instagram that’s, @_ObeyFaday. It’s not the spelling of my name but phonetically, that’s how it is.

We are getting deep on the last couple of questions here. What makes you feel inspired or you are your best self? To me, I get inspired when I’m around people doing more than me. I get inspired by people that have good, positive energy. I get inspired about going after goals. What inspires you? What gives you this fire? We are weirdos, crazy people and wild men, anybody that’s in this business. It’s a tiny niche of the human population but certainly here in this country. What inspires you to be a real estate entrepreneur?

WI 527 | Reasons To Keep Going

Reasons To Keep Going: A lead is anybody that wants to sell.

 

I’m still young and don’t have responsibilities like that. The only real responsibilities I feel like I have are my parents. They are immigrants. I have conversations with them all the time because I’m in the house with them now. I can tell their whole adult life has been based around raising their kids and making sure that they all came outright.

We are all doing great in our respective areas but they don’t have much outside of that. What inspires me is to show them that there’s so much more to life outside of taking care of us. That pushes me to properly take care of them and show them that they are perfect. Get them traveling and expose them more to what life is from what I have seen from other people that are successful and stuff like that. That’s what pushes me.

What advice would you give to a smart, driven person who is starting their wholesaling journey?

Think big, and don’t let anybody bring you down from that. You are going to get hit with that pedestal that you put yourself on. It’s going to get shaken up and all that stuff. Stay on top of it. Even if you are broke, if you are working towards it, you are not broke. I can’t remember the exact quote but a rapper said, “If you are trying to get it and you are broke, you are not broke.” You are in the intermittent stage and working towards it. Trust your instincts and keep going because it works.

Thank you so much for being on here. What an incredible interview. You are an absolute inspiration. It took you months and months to get it going. Once you did, you started doing some damage out there and making an impact, and being a great example in your market of somebody that’s doing the business right and successfully, most important. Thank you for being on here. You are the absolute best. I see you blowing up and getting to that $250,000, $500,000, $1 million business, and then growing. It’s going to be exciting to watch you buy a bunch of assets and real estate. Do it. I’m excited. Thank you for being on here.

For everybody out there that is reading, if you are interested in joining the most proactive group in real estate investing, it is the TTP family. Go to Wholesalinginc.com/TTP. Check it out. If it feels good in your gut, sign up for a call, it will either be with me or my right-hand guy. We look forward to talking to you. We love you. As always, I encourage everybody to talk to people. Fade, you are the best.

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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!

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