Posted on: October 08, 2020
WI 532 | Entrepreneurial Spirit

 

Just like many people, today’s rockstar rhino learned about wholesaling accidentally. And he was adamant about it as first, thinking it was too good to be true. However, when he closed his first deal, he knew wholesaling is the real deal!

Daniel Williams Sr. always had an entrepreneurial spirit. However, just like most people, he didn’t know anything about wholesaling and had to find his way around. Fortunately, what he lacks in wholesaling knowledge he makes up for in determination and hard work.

In this episode, Daniel shared how he made things happen—from the challenges to the techniques he used, he covered it all. If you want to hear an inspirational wholesaling journey, this is one episode you shouldn’t miss!

How One Lightbulb Moment Completely Changed this Wholesalers Life

Episode Transcription

I wanted to start out with a quote that I thought was absolutely appropriate. It comes from the incredible Jim Rohn. He says, “Don’t wish it were easier, wish you were better. Don’t wish for fewer problems, wish for more skills. Don’t wish for less of a challenge, wish for more wisdom.” That opens up this wonderful conversation we’re going to have on this interview because I have with me a wholesaler out of Youngstown, Ohio that had to go back and go through these challenges and some obstacles to be able to close on his first wholesale deal. Now he is off and running. It is my absolute pleasure to bring on and introduce to the show the Rhino Tribe, Mr. Daniel Williams, Sr. How are you?

I’m doing well, Brent. How are you doing?

I’m excited. I got the coach on here. I got an incredible story for you to tell but let’s let people understand who you are, what your background is, where you grew up and then what was your life like before discovering wholesaling real estate.

I’m from Youngstown, Ohio. I grew up decent. I grew up in Youngstown and lived here my whole life besides college and my stint in the Military National Guard. I went to high school and played sports. I always knew I was going to go to college from my family upbringing. I went to college and joined the military while I was in college to help pay for school. I got deployed a couple of times for different stuff like Hurricane Katrina and after September 11th. I’m a former military police officer. I went to school and graduated from college. While I was going to college, I started working at Ohio Edison. It’s our electric utility company here. I got a good job and I make decent money for our area.

I was always interested in business. My Bachelor’s degree is in Marketing. I paid for it but never used it. I always had that entrepreneurial mind. I always wanted to do something for myself. I know working somewhere, I’ll never make money to live next door to my boss or the CEO so I want to take things into my own hand and finally got into that.

I always was interested in real estate but what got me introduced to wholesaling was a guy by the name of Mark Whitten out of the Baltimore DMV area, who was on the so-called The Breakfast Club. I heard him talking and it was good. He started naming stuff like ListSource and buyer’s list. I had no idea what he was talking about so I got to Google and YouTube and was like, “What’s this wholesaling stuff he’s talking about?” I heard about it but that’s the first time I ever heard of ListSource or PropStream or anything like that, where you get information to go out there and find people to talk to. That’s what got me started.

The house where I’m sitting, I bought it from a wholesaler to use as a rental. I’m living here now. I didn’t use it as a rental so I’m staying here. I got it for a great deal. I was supposed to talk to the lady that was selling the house, who is a friend of mine. She told me she’s selling the house. My kids had a sport’s event that weekend so I was like, “I’ll meet with you on Monday.” Monday come around. I see this truck in her yard that said, “TUBBS Investment.” I was like, “She must have sold this to a wholesaler.” I already knew what it was.

I went in and we talked and I’m like, “You’re a wholesaler.” He was like, “Yeah. Do you know about wholesaling? Most people don’t know about wholesaling.” I was like, “Yeah.” She sold it to him for a little bit more but it was still a good deal. I ended up buying it, fixing it up and doing whatever. That’s where I’m at now. That’s Matt Tubbs of TUBBS Investment.

When I bought the house off of him, I’m like, “When I get into wholesaling, he’s going to be one of the first people I’ll call when I get my first deal.” That’s exactly what I did. I knew about it. I’ve been doing my research but he had all the contracts and he had the different stuff. They always say, “Reach out to somebody that’s smarter than you to help you out,” and that’s what I did. I gave him a buzz, I was like, “Do you want to make some money now?”

Generate leads by starting with the people you know.

There are some important things there to look at. You’ve got a good job, you’ve got a degree, you’re a former military. You’ve got all this experience. You’ve got the resume that you could probably get any job in town you want. You do realize at some point, a job is only going to take you so far. There’s a ceiling to where you can go with having a job. That’s when all of this exciting real estate research starts. You start getting into the YouTube, the podcast and peeling back and looking at, “What is happening here? People are giving discounted properties. This is crazy then all of a sudden, you’re buying a house from a wholesaler that you’re going to live in?”

By the way, if you want to check it out, he’s got superstar athlete children. This guy’s genetics are off the charts. His son is a freshmen phenom in everything that he’s doing. How do you do it? You’re at all the events. You’re a coach. You got a full-time job. You’ve done a house. How do you balance all of it and make sure that you are staying committed to your goal of doing wholesaling and having that freedom of schedule that we talked about?

Brent, I’m not going to even lie to you. It’s hard. When I go home after eight hours, that’s going home early. We usually work 10 to 12 hours most of the time, seven days a week at our utility company. I’m always at work so I got to find time for practice. I got to find time for my kids. My daughter went 1.5 hours away to school. It’s rough. I want to be one of the advocates that you always put out there for people that’s in the same boat as me. You got to time block. You have to. During this interview, it’s letting me know that everything I’m doing, everything I’m working for, I can do it but you have to time block. As soon as I leave here and get off of this, I’m going straight to football practice. It’s busy. It’s never-ending.

Do you look at your schedule from an overview and you go, “These are the times that I can commit to it.” You have to get the whole family on board. They have to understand what you’re doing, what you’re trying to do and how you’re trying to generate leads and opportunities. Talk to me about that. What’s the discussion like with your family?

My son is with me all the time like you. In the car, I don’t listen to music too much. It’s always the podcast and deep train. I’m listening to them, building up my knowledge base to give me the confidence to keep moving forward and be the expert in a room so to speak, when I’m talking to a potential seller. With the family, they know what I’m trying to do, they know what I’m doing but I haven’t got my family all the way deeply involved with it.

Matt Tubbs helps me out a lot. Also, I have another friend that retired from the military after twenty years. She got her company. Me and her locked in together and she keeps me accountable. I can call her if I’m doing something good, she’ll let me know. If I’m doing some bonehead, she’ll let me know. She’s a good friend. Robin Bell helps me out a lot. That was what it is, Brent.

You work 40 to 60 hours and you coach probably 12 to 15 of that. How do you fit this into your schedule? A lot of people reading this are wondering or maybe they have these full lives or they have a similar situation to you and they can’t get away. How much of your week is dedicated to your wholesaling business?

I got to dedicate more but driving for dollars is huge, especially in our area. I know this is a renter’s area. You get some investors to come in here from all out of state to buy discounted properties. You can rent them out and make a good margin on those rentals. If I’m riding by a house and I see it, my kids call me crazy. I’m turning around in other people’s driveways, backing up, going to the front of this house, taking a picture of this house and sending out the postcards from DealMachine, which was awesome. Whenever I can do it, I do it. If I see a house, with DealMachine, you can do the skip trace right there. They’ve been good for me. I’ll call them right then and talk to them. We’ve got a couple of leads that way. That’s how I got my first deal on. It never sets off. Your mind shuts off but you got block time specifically for that to meet your end goal.

It’s exciting. You could leave your house and now we have the technology. If you guys don’t have to DealMachine app, we get the biggest discount through TTP. Use the code to TTP when you check out. It’s only $40 a month for it. It’s the biggest discount they give because they love us so much. You can you drive out of her house, you see a property that’s rough or you’re traveling around, wherever. You’re going to the store, you’re going to practice, you’re going to a friend’s house or a barbecue and you can just pull over, tap a button and have an accurate phone number and/or send them a letter that fast.

WI 532 | Entrepreneurial Spirit

Entrepreneurial Spirit: If you reduce distractions in the beginning, you’re going to put yourself in a better position long-term.

 

I work at Ohio Edison and I used to read meters for five years. What I did is go to my old meter reader buddies. A lot of the people that I used to work with moved on so it was all new people when I walked into the office. They were like, “Who is this Yahoo talking about. If you find these houses or whatever, give him a call and he’ll give us $100 to $200 if you close on a lead?” That’s what I did. My brother works at the post office. I’m like, “If you see any houses that look messed up or been abandoned for a year or two when you’re delivering mail there, let me know.” Mostly all my leads are coming from people I know or driving for dollars.

That’s so critical. Being able to be the guy, you need to have that confidence and certainty of like, “Send me any ugly properties that you run across. If you guys come across somebody that’s having a tough situation and they need a cash offer, send them to me.” You start building up a referral database of people that look at you as the real estate guy that loves ugly houses. You can easily add a deal a month or a couple deals a month from people sending them to you that run across them.

You can incentivize them if you want but most of the time, people are just like, “Daniel would love to have this property. I’m going to tell him. I’m going to text him this address. I’m going to take a picture of it and send it to him.” All of a sudden, you’ve got the address. You could get all the data that you could ever want for them and now you’re having that conversation. The most important thing, Daniel is you have to pick up the phone. You have to call, talk to them, have a conversation with them. Either they’re going to call you or more likely, if you want to control your own schedule, you reach out to them and that’s what you’re doing. Weren’t you afraid the first time? Was there any apprehension? Was there any nerves?

My heart was beating in my first call. I was going over the script. I had the script right there. I’m like, “Calm down.” You’re calling to help somebody with a distressed property at the end of the day. That’s exactly what happened and it ended up working out.

It’s an interesting thing because once you start making those calls all the time, you start getting a lot more comfortable with it. Not only that, I remember the first time that I was focusing on calling ugly houses or rough distressed properties, I was like, “I don’t know what I’m doing here. I’m going to try to wing it. I don’t know if they’re going to work with me or they’re not going to work with me.” All these hallucinations go through your head. “Am I worth it? Am I strong enough? Am I able to say the right things? What if they say something, trip me up and I sound stupid?”

You then realize you’re just talking to people down the street. You’re talking to your community, to your neighbors, to people that need your help that has a problem. If they don’t, they tell you quickly that they don’t need your help and then you move on, which is absolutely beautiful. You’ve been doing it. Is that your strategy? Is your strategy to go out, be in the field, be out and about and let people know that you buy these houses to send you referrals but then also to be calling on properties as you go through the streets?

Yeah. I still never even bought a list from PropStream or ListSource. From me closing on my first deal, I had the money to do it any way but I was like, “I’m going to use the money from my first deal to get my marketing set.” I heard somebody say, “If you’re going to be dedicated to it, get all the stuff that you’re going to need, your PropStreams, your Mojos and everything like that. If you can’t be 100% dedicated to it. There’s no need to waste money that you’re not going to be using and getting after.” I’ve been watching all of you guys. It’s still working out. I plan on getting a ListSource and PropStream stuff and get that stuff going and start calling more people with the Mojo Dialer or whichever one I decided to go with.

The beautiful thing is you didn’t have all these distractions. Oftentimes when we’re starting out, we have all these tools, resources, people, voices and all these things that are going through. We’re trying to pick through and find out the perfect plan for us and our life, our schedule and everything going on like that then we end up not taking any action and not making any decisions. You went out and you were like, “There’s an ugly house. I’m going to go after it and we’re going to get this thing done.” The beautiful part about this business is if you reduce the distractions in the beginning and start working from a place, “I need to bring in deals and bring in income before I start building up my expenses,” you’re going to put yourself in a better position long-term.

It is a habit to go out and spend a ton of money on all these things before taking action. You are flipping it completely on its head and saying, “I’m going to take action first and then I’m going to start buying all these things.” That’s where the magic is. That’s where you stay profitable. That’s the mindset that you should have because as a real estate wholesaler, as a business, you should be keeping 70% to 80% of the profits that you make from your deals.

Real estate wholesalers should keep the ball rolling and the momentum going. There is no room for slowing down.

You do that then all of a sudden you have enough for taxes, you have enough to set aside for expenses coming up and you can start buying assets or replacing the income that you have from your 9:00 to 5:00. Once you have all those things going, now things are really going, you have that confidence, that swagger and you’re a gunslinger in there on appointments on the phone. You’re engaging. People naturally hold you like a magnet. You’re doing all the right things. Let’s break down this first deal that you did because it’s exciting. It took a while and there was a couple of rotations that you had to go through.

A buddy I work with stayed across the street from this house. The house caught on fire in December of 2018. I rode by the house plenty of times, saw it but never paid any attention. This was before I heard about TTP or was into the wholesaling mindset thing. From talking to people, talking to my buddy at work all the time because you’re around people that you work with more than you’re around your family at times. I talk to them about it all the time. He was like, “What about the house across the street from me? How about you wholesale that? How about you do that?” I was like, “I might just do that.”

I got to DealMachine, looked them up and skip trace their number. I was at work when I made this call. Everybody was at work and doing their thing. I went out to our utility truck, sat down, do a deep breath and dialed that number. The lady answered the phone and I went through my spiel. I thought she was going to say, “How did you get my number?” She ended up giving the phone to her husband and we talked. One of the things that I said to him was, “I notice it’s a fire-damaged house. It’s been empty for a while. Was everybody okay? Did everybody make it out?” He said, “Everybody was fine.” His lawnmower caught on fire in his garage. That’s what happened.

He was like, “A lot of people have been calling me about this house. You’re the first person to ask how it was doing.” That’s what I was able to crack the shell and build rapport with him because it was a long process. We’re talking. He was getting the money from his insurance company on February 14th of 2020. I first talked to him in the middle of January. He was like, “Call me back around February.” I did. He ended up getting his insurance money.

After that, he wanted $50,000 for it. I did all my numbers, 70%, how much I thought of the cost to get it fixed up. My wholesaling fee, I put in $10,000, put in $5,000. I put them all in there and worked it out. I’m like, “This would be a good deal at $30,000 because it needed a lot of work done to it.” We didn’t agree on terms. He was like, “Somebody is offering me $45,000 and you’re only offering $30,000.” I was like, “If they offer you $45,000, you should have taken it yesterday.”

I did that pull away thing and he went with the other person. I didn’t think about that but I called him probably 2 to 3 weeks later to see how everything was going. He said, “My buyer is still intact. We’re going to do this.” I did my follow-up. I did my part. I called him back and followed up but he still wasn’t interested. I joined on March 4th of 2020. He called me back probably two days or so after I joined and I remember you saying, “Daniel, lock it up.”

He called me so I was like, “I got to lock this thing up,” but he still wanted $50,000 so I’m like, “Even if I got to take less money, I’m still willing to do it.” He was hard-pressed on $50,000. I’m like, “I can’t on my first deal, potentially. I can’t break.” We broke negotiations again. At the beginning of June, he called me back. This is after I’ve been in a TTP program and been learning more so I was like, “Instead of just worrying about my pockets, I’m a problem solver now.” I’m like, “I’m about to solve this problem for you.” He was like, “I can come down to $40,000.” I was like, “Let’s do it at $40,000.”

We went through that and that’s when I started having to talk to the city town because they wanted to tear the house down. It’s a beautiful house. It’s 3,800 square feet, 5 bathrooms and 5 bedrooms. The house is gorgeous. He was an architect so he got all this extra stuff in a house but he didn’t want to let it go for pennies on the dollar even though he got his insurance money. I never thought I’d be talking to a lawyer about a freaking house. We were going back and forth with him but we were finally able to get it done. I ended up finding a buyer for $60,000. I got it for $40,000 and found a buyer for $60,000.

His wife went to go view the house with him. This guy is a contractor. This is what he does. They were going to get it to flip it but his wife is like, “This is going to be our home.” It’s a nice house. He got his signs up in the yard. They are working on it now so that’s awesome. They’re about to make that whole neighborhood look better again. I brought a partner in and he helped me find a buyer. We split that $10,000 apiece. I put something on my Facebook page and my son opened it, “Here it comes.”

WI 532 | Entrepreneurial Spirit

Entrepreneurial Spirit: A real estate wholesaler should be keeping 70% to 80% of the profits that they make from their deals.

 

What was the total that you made on it?

It was $20,000 total, $10,000 apiece, first deal, first call.

The most incredible thing about that is you got through the finish line and you got paid. It validates your efforts. It lets you know that this is real and you can do it over and over again. You had done such a great job of building a relationship, not rapport, not this fake friendship. This true relationship with him that he came back to you after that fell through and again and then again.

It was three times.

It’s a testament to your caring about your community. It’s a testament to you caring about this seller and trying to get him past the point. Did you say he’s an architect?

He was an architect and he owned a restaurant that failed around the same time as this fire. It was a nice house.

This was not just somebody that didn’t know anything and was selling it out of nowhere. He knew every step of the way what he was doing. He wanted to work with you. You came to a price that made sense. What’s it going to be worth once this contractor’s fixed it up?

The prices in Youngstown are nowhere compared to Phoenix but they are probably $200,000 or $210,000 somewhere around there.

You sold it to a contractor that can do the work himself for his family for $60,000.

Without action, there’s no reaction so you got to take action to make stuff happen.

If he put $1000,000 into it, being conservative, that’s $160,000. You’re going to have $40,000, $50,000 potentially $60,000 in equity right off rep.

It’s for knowing you. It’s from you having this relationship with the seller, having a relationship with somebody in the market that is experienced in real estate investing helped you get this sold. You were the one. You were the common denominator of this whole thing. Everything comes from you because of your efforts because your friend said, “What about the house across the street?” You took action, you called them and then called the wife, got the phone number, called the husband, called the owner. All of a sudden, $20,000, you got your son opening up a check for $10,000 on your porch.

He was mine a lot too. He was like, “Yeah, it took long.” That’s why I did it. He’s my junior so I want to show him, “You can touch it. It’s out here and it’s real. People are out here making good livings doing this.” I’m definitely going to pass this knowledge on to my kids, my family, anybody else who wants to know. From me posting it on my Facebook page, I got so much attention. People are calling for good reasons, not just to be money hungry or anything like that. They’re like, “What are you doing? If you need money for this.” I already got stuff lined up where I can probably go get a house and people would pay for it. I’m getting cash buyers or investors, private money people, to come in and invest with me. Ever since then, the ball has been rolling and picking up. I feel like it’s my duty to not let my momentum slow down.

That is the collateral effect of taking action. Your kids get to see you taking action. Not only that, it’s not like you’re just spinning your wheels, you have results to show it and put it in their hands. All of a sudden, that’s concrete in their mind. Your son is holding a $10,000 check. Do you think that he believes he can do that? Absolutely. You’re planting seeds in his brain for amazing growth, financial independence and literacy and all of these things. It’s so incredible. I love everything about it. It’s special.

One of the most amazing parts about this business is people get to see you in action and they get to see the results that happen because it is inevitable. If you have enough quality conversations with distressed property owners, you are going to win. It is impossible not to win. For people that are going to read this or see this, how do they reach out to you so that they can tell you congratulations and can be in your world?

I’m on Facebook, Daniel Williams out of Youngstown, Ohio. Phone number is (330) 519-0009. You can give me a call or text. I’m all about talking to people. If I can help, I’ll help. We can build this thing and keep it going. If you want to send an email, it’s DWilliams1357@yahoo.com.

We can talk about a lot of books and go through that but I feel this is a good question. I talked to you about it before. What makes you inspired? What makes you feel like you are your best self? It’s a deep question but it’s an important question.

WI 532 | Entrepreneurial Spirit

Entrepreneurial Spirit: The key to real estate success is in building rapport and not fake friendships.

 

Everything I’ve been talking about this whole conversation boils down to being there for my kids and my family. That’s my number one. That’s why I’m doing it. My daughter is in college. I want to be able to afford to go to her track meets. They got a track meet in Texas and I’m planning on going. I don’t want to have to worry about vacation days or saving up money or penny-pinching. I get on my grind, go out there and have quality conversations with people and I can make the money to go there and be there for her.

My son, when he gets ready to go off to college, I’ll be able to have the money. In four years, he graduates. If I don’t build this up enough to be able to be my own boss and call my own shots in four years then I’m doing something wrong. I always tell them, “Without action, there’s no reaction so you got to take action to make stuff happen.” That’s my real why. What motivates me to be the best I can be is my two kids, Alina And DJ.

You can see the pride all over your social media. It’s absolutely incredible stuff. Thank you so much for being on here. I appreciate it. Thank you for your military service and thank you for inspiring us. You’ve got everything. You’ve got your schedule packed full but you’re taking it and you’re understanding it’s priority management. You’re taking action in your wholesaling business with your family, work and everything. You’re a true inspiration. Thank you.

Thank you. I can attest to other people that are in my shoes, will be in my shoes soon or people that close other deals, talking to you is motivation. I’ve been watching you for a long time. It’s amazing to be here. I’m not going to let myself down and hopefully, we’ll be talking again and when I do good enough, I can come out there on the West Coast. I haven’t been out in there to come to check out and see how the machine runs.

Anytime, I would love that. Thank you, Daniel. A couple of resources, DealMachine.com, use the coupon code TTP. If you’re interested in being able to pull comps and get a valuable resource with PropStream, go to TTPData.com. If you’re interested in joining the most proactive group in real estate investing, it is the TTP family, go to WholesalingInc.com/ttp, scroll down if it feels good in your gut and sign up for a call. I look forward to working with you personally. Daniel, thank you so much. Good luck at practice. Good luck with the game. Thank you for being on here. For everybody out there reading, as always, I encourage you to talk to people. Until next time, see you, love you.

Important Links:

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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