Posted on: October 12, 2020
WI 534 | Secret To Deals

 

For many people, finding and closing 60 to 80 deals per month sounds like a stretch. For today’s guest, it’s a walk in the park.

Jamil Damji is one of the best in the real estate and wholesaling arena. A massively successful wholesaler, Jamil is also the co-founder of KeyGlee, a company that helps homeowners sell their homes online safely and easily within minutes.

With more than 50+ employees, KeyGlee can easily wholesale up to 90 houses per month! However, the sheer number of employees his firm has is not the only thing that has helped Jamil consistently close a huge number of deals monthly.

In this episode, Jamil shared some of the business and life lessons and hacks that have helped him become the success he is today. If finding deals has been a challenge for you, today’s episode might just turn your business around!

The Secret Ingredient Behind 60 To 80 Deals Per Month!

Episode Transcription

I want to introduce myself. I’m one of the newest coaches, and I teach all things virtual investing. In this episode, I get to talk with my good friend, Jamil Damji. I’m sure you guys know Jamil. He is an awesome investor and has particularly interesting skills and dispositions. We deep dive and get into it. Jamil has a ton of experience. He’s based in Arizona.

We became good friends through one of my travels we had met at one point. I got to know you and immediately loved you. Everybody loves Jamil. You are entertaining. Not just that, you were extremely knowledgeable. I also am aware that you’re knowledgeable in the area of disposition. That’s the area that I want to pick your brain on later in the show. Everybody, let’s welcome Jamil.

Lauren, I’m a huge fan of Wholesaling Inc. I love Tom Krol and TTP. I’m a big fan of yours. I’ve been following you for some time. There are women in my life that I have referred you to. I say, “Look at this person. She’s so inspirational and amazing. You should watch and follow her,” and see all the amazing things you do. The admiration is reciprocated.

I am excited that we finally got to do this. Tell us a little bit about yourself. For those who don’t know Jamil, what are you doing right now? What are you up to?

I am one of the Founders of KeyGlee. We’re a wholesale operation based out of Phoenix, Arizona. We specialize in dispositions. What that means is we are a business-to-business wholesaler. We don’t go directly to consumers a lot of the time. We’ll do anywhere between 60 to 80 transactions on a monthly basis. Out of those 60 to 80 deals that we’ll do, maybe ten of them seller direct. The other 50 to 80 or whatever, however many it is, 50 to 70 without the 10 are business to business.

Meaning we’re helping other wholesalers sell their deals for more money than they could have got on their own list. We’re able to do that through our technology, capacity to data-mine for high-net-worth buyers, and the relationships that we keep. They trust us. They believe in our due diligence when we do it and share that information with them. We’ve gone a long way and are the voice of authority and trusted source for wholesale deals for many rehabbers, buy and holders, institutional buyers, and high-net-worth people looking for cashflow.

Wholesalers across the country bring us their opportunities so that we can help them sell them. It’s a different approach. I know you’ve got an amazing course on virtual wholesaling, but it is also in the acquisition realm. You’re showing people how to get deals virtually and do an amazing job of it because I know you have a thriving business. People who work with you thrive as well.

Sometimes what ends up happening is when they learn how to go out and tie up these deals and get these deals, and if they’re not in markets like Orange County, where there’s a buyer for everything, they need help selling the deal. A lot of people getting into the business learn acquisitions and learn it heavy. They don’t focus on the other side of the equation, where the check comes from. What we’ve been able to do is fill that gap and be there as a bridge for many wholesalers to get them across the line to a check while they’re building up their business and their own dispositions.

I want to get into that more because it took me many years to realize how big a deal disposition is. I did not realize how I wasn’t paying enough attention to the dispo side. I started as a house flipper. That’s probably why because I was like the disposition strategy. I would flip the house, and so I didn’t worry about that.

There was a time a few years ago where I thought, “I am not paying enough attention to dispositions.” I have the same person on my team doing acquisitions and the dispo versus separating them out. I thought, “What if I had one department in acquisitions and one disposition department?” Keep them completely separate. They do work together but separately. They are two different roles. It’s hard to split yourself and do both.

When you can still yourself and focus on nothing, the insights you gained from that are the insights of genius.

A lot of my students are doing everything. They’re doing lead gen, acquisitions, and dispositions. It is a lot. For me, when I made that shift, it was a game-changer. I was getting higher fees. I was doing more deals. It paid for that extra body on my team. What is your number one favorite way to build your buyers list?

This is for anybody that’s getting started. The key is when you have a deal under contract. You need a buyer now. A list is interesting because when you build a list, you’re building something that doesn’t have a time attached. Let’s think about the process of list building. There’s no urgency. We don’t know when that buyer is ready to buy. There’s no indicator there. It’s the name and email.

They have bought real estate in the past, or we’ve connected with them and have opted in to our list, but the timing doesn’t become the factor. I believe that timing is essential in dispositions. If you can catch a buyer when they’re ready to close or buy, it doesn’t matter where the deal came from. If the numbers make sense to that buyer, they will take a look at that opportunity and possibly buy it.

I would suggest that every day, for at least 1 to 2 hours a day, you look at the MLS or Realtor.com or Zillow.com or Propstreet, any of those services that have real-time MLS information. You look at the new listings that have populated on the MLS for the last 24 hours. You go through those new listings and see which of them appeared to be a flip property, have been flipped. You can tell that by looking at the quality of the picture.

Typically, when an investor flips a house, they get a professional photographer to take those photos and stage the property. You’re looking for new cabinets, staged living rooms, closets with no clothes in it. You can tell that it’s a flip. You’ve now identified that this is a flip property. What you then do is find out who’s the owner of that property. You skip trace them and call them.

You say, “I noticed that you listed your property that appears to be a flip on the MLS. I imagine you’re looking for your next piece of inventory. I have your deal.” That is exactly how you sell a deal. You have the timing because you’ve stood in front of that buyer the moment that they needed their next deal. It’s by being the first person to that buyer with an opportunity when they need it.

What I suggest you do is you go through the MLS every day and time block 1 or 2 hours. You look at what new property appears to be a flip. You write down the names of all those LLCs or those people and note their addresses. You skip trace that lists at the end of 1 or 2 hours. You take the next hour to call them all, introduce yourself and add them to your list or sell them a deal.

That’s the money advice.

It’s the hack. That’s how you find a buyer for your deal.

You’re doing almost what we do on the acquisition side, but it’s the opposite. It’s the disposition side of it. None of those guys are getting calls.

For instance, you’re a wholesaler. If you’re on the MLS searching for deals, I bet that you see what looks like a flip and scroll right past it. You’re like, “Not for me.” You’re scrolling past your buyer.

WI 534 | Secret To Deals

Secret To Deals: If you can catch a buyer when they’re ready to close or buy, it doesn’t matter where the deal came from. If the numbers make sense to them, they will take a look at that opportunity and possibly buy it.

 

How are you getting the buyer’s information when you skip trace if it’s an LLC? Do you get their number from typical skip tracing? Do you have to go an extra step?

I have to do the extra steps. I’ll go to the Secretary of State website or the Corporation Commission for that state. I will search that entity, find out who the owner of that entity is, and then skip trace that owner. When properties are owned in trusts, because it’s difficult to identify who’s the owner of a trust, but people aren’t flipping houses and trusts.

No, it’s LLC is usually. Sometimes it gets tricky when you can’t find the LLC and have to figure out who owns it and whatnot. This is good advice.

For instance, you’re looking for a buy-and-hold guy or somebody to pay a little bit more money. You’ve got a house that isn’t a flip property. It’s nice, but it’s discounted. It’s not as discounted as you need it to be for a flip, but it’s discounted, and it would make an amazing rental. How do you find a high-net-worth cash buyer who’d be interested in buying instant equity on a property?

This is what I do. If I’m in Phoenix, which I am, I’ll go to Zillow.com, and I will search for listings from $1 million to $3 million. Zillow will then populate for me where all of the houses in Phoenix that are between $1 million and $3 million are located. Now I know where all the rich people live and what their zip codes are. I then go to the county assessor’s site, and I box in that one little area where all of the rich people’s houses are. I skip trace all of those individuals.

I literally call them, and I say, “My name is Jamil Damji. I specialize in finding discounted real estate. I can sell you a house that’s got 20% equity the day you close. If you’re interested in seeing any of my inventory, I’d love to send it to you. What’s your email address?” You’d be surprised at how many people of high net worth will listen intently to that conversation.

That is gold. This is outside-of-the-box stuff. High-net-worth individuals are always looking for a place to put their money, would earn a good return, and rental properties do, especially buying it with instant equity. The return on investment adds up at that point, especially if they’re using all cash. That’s genius.

That’s a snippet of what we do. Our focus is on dispositions and being the authority on how to do that at the highest level in this business.

You are a deep thinker, all about self-improvement and bettering yourself. What’s your favorite book of all time?

My favorite book is the Autobiography Of A Yogi by Yogananda Paramahansa. I love it. One of the first books that I read about personal development and self-improvement was You Are a Badass by Jen Sincero. I love it. I remember picking that book up and having a hangover because I’ve been not living my best life. I wasn’t in the best spot and energy. I needed to change.

Negativity finds a way to fester, manifest, and grow.

I picked that book up and was inspired. I let that next foot fall in front of the next foot. I meditate daily. It’s a non-negotiable for me. I believe that when you can still yourself and focus on nothing, just you, you are at the core. The insights you gained from that are the insights of genius. That’s where the equations that changed the world come from. That’s where the inventions that revolutionized the way we move, think, and interact, came from.

I try to spend at least half an hour a day in that space of silence, or I can get to myself and see what my highest self has in store for me. I love that. I let anybody know who wants to do more in their life and try to get that level of excellence or do something different. It happens inside first. It’s not about working your tail off and fingers down to the bone. It isn’t. If you followed me around all day, people would say that, “I don’t know that he does all that much,” but what I do, I do at the highest level possible.

I’m not wasting time and spending my time doing frantic work or activity that’s not going to produce for me at the highest level. Because of that, I’m more intentional with things. Because I’m more intentional with things, when I do something, I do it right. If you are trying to transcend that, get to that spot that’s next level, it starts here and in here. If you gave yourself five minutes a day of reflection, you would see an immense difference in your life.

I’ve read The Road Less Stupid. I’ve tried to meditate and I can’t do it. The Road Less Stupid has what’s called thinking time. I’m good at thinking, in a way that’s my meditation. I’m not good at meditating, but it’s been a game-changer. I started waking up at 5:30 in the morning, so I had time to think. I was getting so busy that I had no time to think.

I’ve got kids running around, a coaching program, and a wholesale business. I was making these decisions irrationally and off the cuff. Some of these decisions were not great decisions. When you have time to sit and think, you can stop yourself from making five-figure mistakes because you made this quick whim decision. That’s my meditation. I can’t meditate very well.

That is awesome. The only thing that I would add to that, Lauren, would be in thinking. Thinking is not bad. Thinking is great. It’s awesome to do. The only thing that I would add to that is to weed out anything that’s negative. Negativity finds a way to fester, manifest, and grow. If you find yourself going down a negative path of thought, the trick to letting that go is to think of the exact opposite of that. Even if it’s not real right now, because the negative thing is what’s real in your life, think about the exact opposite of the negative thing and focus on that thing, and that thing starts to find its way to you.

I’m always obsessed with the habits of successful people. What do you do in a day? What does a typical day of a highly successful real estate investor? Walk me through a day in your life on a weekday?

It’s not super exciting. I wake up around 5:30. I will have my coffee, my vitamins, and water, and then I meditate. Once I’ve done that, before the ankle broke, I would do about an hour of exercise. Once I was done that, I spent another hour with my wife, chatting, talking, connecting, having us time. Once that happened, I would be on my way to the office. I don’t get into the office until 11:00. That’s what it is. From 11:00 AM until about 7:00, I’m at the office, hanging with my team, helping them through deals. I’m on the front line. A lot of times, people don’t realize I get asked all the time, like, “Who could look at this deal for me?” I can.

I’m working with my team. I’m helping them work through deals. I’m helping them see things in deals that they may not have seen. We’re bouncing ideas off each other. I’m actively in the business with them all the time. Come around 7:00, I shut it off. I come home, and my wife and I have supper together. I’m in bed by 10:00. It’s simple and structured. I’m a structured habitual dude. I do everything. You’ll typically see me in the same t-shirt because I have 1,000 of them. I don’t want to waste time on what I’m going to wear. I know exactly what I’m going to wear. It’s the same thing I wore yesterday. It’ll be the same thing I wear tomorrow, a clean one.

That’s good to know. A lot of people want to be successful, but they don’t even know what to do. They don’t even realize that they have bad habits. Habits are so important because they compound over time. Something that maybe not be a big deal, for example, using sugary creamer in your coffee. You dump it and don’t measure it. That sugary creamer adds extra calories that, after a while, you’ve got five extra pounds by the end of the year. You’ve been chugging three cups of those a day. It’s like these little habits.

WI 534 | Secret To Deals

Secret To Deals: If you find yourself going down a negative path of thought, the trick to letting that go is to think of the exact opposite of that.

 

For me, I was never an early morning riser. I don’t know what got in me, but I was like, “I need more time for thinking time.” I need more time in my day. My kids have hit this milestone where they don’t exhaust me as much. I don’t have that need anymore. I used to have this need of when they would go to bed at 8:00, on the dot, they had to go to bed at 8:00. I needed two and a half hours to myself of silence because they were so needy.

They’re not little needy toddlers anymore. I realized they hang out, watch TV and get their own snacks. I don’t need those two and a half hours anymore. I don’t need to be up until 11:00 anymore. I realized I could go to bed when they do around 9:00. I can get up at 5:30, and my best mental energy is in the morning. I do my best work in the morning. Why not be awake when I do my best work?

I might as well be up two hours earlier where my brain works the best. I’d made that change. I’m never looking back. I’m part of the 5:00 AM club. I am never looking back. I have been able to get so much work done. Usually, I don’t like to get into the workflow until about 6:00. My kids wake up at 7:00. From 6:00 to 7:00, I’ll put in a project that is a push your needle forward type of project.

Something that is going to push me forward to some big goal. I noticed that 1 hour is equal to 4 hours in regular time. It’s 4 hours from 8:00 to 5:00 because 8:00 to 5:00, you’re getting interrupted. You’re getting text messages. Your kids are running in and out. You can’t get that focus that you can when you’re completely uninterrupted, and nobody is bothering you. It’s always interesting to hear a successful person, “What time do you wake up?” “5:30.” It doesn’t surprise me.

I’d like to wake up even earlier. If I could get to bed at 9:00, I’d wake up at 4:00.

Jamil, it’s been a ton of fun. Where can people find you? Where are you on the socials?

You can find me on Instagram @JDamji. I’m on Facebook. That’s where you can find me, some content, see me do my thing. Otherwise, reach out. I do respond to DMs. I have a little bit of help now because they’ve gotten out of control. There were thousands and thousands of them. I had no idea there was an entire another mailbox that were requests. I didn’t know. I thought like, “I’m getting through the primary.” There was a general mailbox. I went through and got through the general. I had asked Pace, and I’m like, “What’s this 99 plus requests thing?” He’s like, “Press it.” I then pressed it, and there were 2,400 messages in there that I had no idea were in there.

I’ve done the same thing. I can’t say I am as popular as you. That is crazy. It’s gotten very difficult with the social because the messages come from all these different directions, the three different mailboxes, plus Facebook has a hidden message section. Facebook is out all over the place. I can’t even figure that out. I have the same thing.

I have a VA who helps me with people who slide into my DMs. Don’t say anything weird because it’s not me. I would appreciate weird, but my VA would not appreciate weird. Jamil, this has been amazing, and we should do this again soon. Thanks for reading. If you guys want to learn more about real estate investing and taking your business virtually, go to www.WholesalingInc.com/virtual. Thanks again for reading.

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About Lauren Hardy

Lauren Hardy is a Virtual Investing expert and Real Estate influencer who owns multiple companies in the real estate industry including real estate investment, coaching, and software companies. She is also a Wholesaling Inc coach and co-host of the Wholesaling Inc Podcast.

Her experience in the last decade has been focused on real estate investing and creating products and services to serve the real estate investing community. If you are interested in investing in real estate virtually, house flipping, or virtual landlording, Lauren’s your girl.

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