Posted on: December 03, 2020

While today’s guest has only been in the business for 5 years, he has already made his mark in one of the toughest real estate markets—Denver, Colorado.

Just like most people, Daniel Versteeg experienced a few bumps and challenges along the way when he first started. However, he’s now a very successful real estate entrepreneur who does over 60 deals a year while working for only 20 to 30 hours!

In this episode, Daniel not only shared his inspiring real estate journey, he also shared how he runs a very successful real estate business. How Daniel keeps his list fresh, how his business is set up at the moment, and how he sets limits in terms of spending, you’ll learn it all here so don’t forget to tune in!

Key Takeaways

  • What he did before wholesaling
  • The biggest problem he experienced when he was starting out
  • How he sets limits in his business in terms of spending
  • The most proven path to financial freedom
  • What the wholesaling game is really all about
  • Time he spends in his business
  • Difference between wholesaling and wholetailing
  • How his business is set up at the moment
  • How he keeps his list fresh
  • Breakdown of a deal he did
  • What non-comforming means
  • His advice to those who are just starting out
  • How people can reach out to him

RESOURCES:

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Episode Transcription

Brent Daniels:
Welcome to the Wholesaling Inc Podcast, America’s number one podcast for new real estate investors, where we know without a doubt that finding discounted properties is the most proven path to financial freedom. I am your host, Brent Daniels, Mr. Talk to People, Mr. TTP. I am telling you this. If I can do this, so can you. Let’s get started.
I’m excited about this podcast because this podcast interview is with somebody that doesn’t want to be in the spotlight, but he has built an incredible real estate wholesaling and flipping business over the last five years in one of the toughest markets possible, in Denver, Colorado. It is my pleasure to introduce to the Wholesaling Inc Podcast, to the TTP studio here, Mr. Daniel Versteeg. How are you?

Daniel Versteeg:
Yes. Good.

Brent Daniels:
Good.

Daniel Versteeg:
Thank you for having me.

Brent Daniels:
Yeah. It’s awesome that you’re here.
You’ve been on this path for five years now, right?

Daniel Versteeg:
Yeah.

Brent Daniels:
What were you doing before you discovered wholesaling real estate?

Daniel Versteeg:
My story is, basically, I was in college. I played college basketball. I got injured, actually, out in Oregon while I was playing out there. Then from there, I didn’t know what I wanted to do. I finished up school, got a sales job. Wasn’t really feeling that. Then got into property management. Then I realized managing properties isn’t that fun.

Brent Daniels:
Was that your door to open up to your path to real estate, was property management?

Daniel Versteeg:
Yeah, that was basically it. I knew I wanted to be in real estate in some capacity. The thing that triggered that was Rich Dad Poor Dad, like everybody else.

Brent Daniels:
Yes.

Daniel Versteeg:
That’s what planted the seed. From there, I took the internship, realized it wasn’t exactly what I thought it was. Then I think I just came across a YouTube video about wholesaling, and I was like, “This is the way that I can get in.”
I was working from about 7:00 to 5:00 PM. Then, drive home in traffic, it was about 6:00, so it’s late. From 6:00 to about 1:00, we’d be writing yellow letters. That’s how we first started.

Brent Daniels:
Awesome.

Daniel Versteeg:
Yeah. It wasn’t fun. It was tough, but it happened.

Brent Daniels:
The crazy thing, right, Daniel, is we read this Rich Dad Poor Dad, and we’re like, “Yes. Real estate. That’s what it’s about,” but it’s not an instruction manual.

Daniel Versteeg:
Exactly.

Brent Daniels:
They’re not like, “This is how you go out and find a motivated seller.” “This is how you go and find out a discounted property.” Right? We’re kind of stuck, and we go, “Oh, jeez. Okay. I have this real estate passion. I know that I want to find discounted property. I know that I want to own property and have these assets give me passive income,” and all of these things, right? All these things are going, we’re getting excited. then it’s like, “What do we do next?” Right?

Daniel Versteeg:
Exactly. That was the biggest problem for me is, because I really didn’t know how to break into it. That’s why I thought sales. It could be a commission job to break into it. Not all sales jobs make you a lot of money. I was in industrial construction sales. It wasn’t really that lucrative. I couldn’t build up the capital to get any rental income like he talks about in the book. When you come across wholesaling, that’s the fastest way that you can make a good amount of money in a short amount of time.

Brent Daniels:
That is the path. I’ve seen it time, and time, and time again. Read Rich Dad Poor Dad. Somehow it finds its way into somebody’s hands.
Listen. They’ve sold 40 million copies of Rich Dad Poor Dad. it’s been in a lot of people’s hands. The number one personal finance for forever. But I don’t think a lot of people take that next step that goes, “Okay, now, how do I do it?”

Daniel Versteeg:
Yeah.

Brent Daniels:
You know what I mean?

Daniel Versteeg:
Absolutely.

Brent Daniels:
You went into it and you saw an opportunity. Somebody gave you an opportunity to get into property management?

Daniel Versteeg:
I was just browsing on Craigslist, trying to find an internship that was paid in the real estate field. I came across a property manager. It was a small, small company, privately owned. I worked there. I was managing probably 60, 70 doors. It wasn’t what I thought it was. Because he was a developer, too, so I was just on the side, and managing all his properties. It was a lot of evicting, dealing with tenants, calls, broken stuff, and just driving around. It just really wasn’t what I wanted to do.

Brent Daniels:
Yeah. You get thrown into real estate in the worst position, which is property management.

Daniel Versteeg:
Yeah.

Brent Daniels:
Not worse in a sense of, whatever, fulfillment, and all these other things, but it is a lot of just dealing with drama after drama, and issue after issue. You have to go through all of this, and you’re almost on call all the time dealing with everybody else’s issues.

Daniel Versteeg:
Absolutely.

Brent Daniels:
You know what I mean?

Daniel Versteeg:
Yeah.

Brent Daniels:
It sounds like it’s crazy, but it kind of set the platform for you building a business to where you’re controlling it.

Daniel Versteeg:
Yes.

Brent Daniels:
You’re the one being proactive. You’re the one going out there. You started first with yellow letters, right?

Daniel Versteeg:
Yeah.

Brent Daniels:
How’d that go?

Daniel Versteeg:
It was difficult. That is how I got my first deal. I was writing a ton of yellow letters, send them out every night. I forget the specifics of it. I know it netted me $10,000, and right after I made that I quit my job, which might not have been the smartest thing. But I feel like entrepreneurs, you just jump in, two feet in.

Brent Daniels:
For sure.

Daniel Versteeg:
Because I thought, in my mind, “If I can do it once, I can do it twice. I can do it three times.” It’s not going to take as long. Because at the time I was only making about $35,000 a year, so … If you make $10,000, almost a third of your yearly salary, so it makes sense to think that way. After that it was a little difficult, just because you don’t really have as much money as you think.

Brent Daniels:
Let’s talk about this. Let’s time travel for a second. You make $10,000. You’re like, “Oh, my gosh,” right?

Daniel Versteeg:
Yeah.

Brent Daniels:
It feels like a million dollars.

Daniel Versteeg:
Absolutely.

Brent Daniels:
I remember the first time I got like $8,500, and I was like, “Oh, yeah,” right?

Daniel Versteeg:
Absolutely.

Brent Daniels:
But how do you prevent yourself from spending too much when you’re initially making these checks? You know what I mean?

Daniel Versteeg:
Yeah.

Brent Daniels:
Because I think that one of the pits that people fall into … You and I know this. We talk to people. We’re around people all the time. Is, they go, “Now I got to spend all this money into marketing. I got to spend it into hiring people. I got to spend money. I got to pay off this. I got to do that.” All of a sudden that 10,000 goes really fast. How do you set limits on your spending in your business?

Daniel Versteeg:
Now it’s a little different. At the time I did spend all the $10,000 the wrong way, ended up having to take out credit cards to try and pay for more mail. Because at that point I stopped writing them, started sending out postcards. That’s expensive. In a market like Denver, it’s so saturated with mail that it’s very hard to get a deal. Ran out of money.
Then that’s how I went virtual. Ended up going to Kansas City, because it’s a cashflow market, where you have, I guess, more opportunity as far as having people who flip and who buy and hold. In Colorado, it’s mostly people buy to flip. There are people who buy to hold, but mostly just flip.

Brent Daniels:
That’s a beautiful distinction. I really want to clarify this for everybody that’s listening. I think it’s really important to look at. You look at your market and you go, “Okay. Is this an appreciation market? Is this a growing market? Is this something that people are looking to buy and flip in?” Or, “Is this where primarily the move is, buy these properties, keep them for forever, get the cashflow, and that’s the world?” Right?

Daniel Versteeg:
Yeah.

Brent Daniels:
In some markets. You’re saying … What was it, Kansas City?

Daniel Versteeg:
Yeah. Kansas City, Missouri.

Brent Daniels:
Was a mix of both.

Daniel Versteeg:
Yeah. It was a mix.

Brent Daniels:
Beautiful.

Daniel Versteeg:
In my mind I thought it would just be easier. Even though it’s virtual, it’s different. It wasn’t necessarily easier. But at that point in time I had run out of money, so my whole thing was, “I got to just pick up the phone and start calling.” That’s how we transitioned into cold calling.

Brent Daniels:
My man. I love it. Mail wasn’t hitting. You’re spending a ton. You’re waiting for these calls to come in. Was there any anxiety when you spend that money, waiting for calls?

Daniel Versteeg:
Yeah, absolutely, because you don’t know.

Brent Daniels:
Right.

Daniel Versteeg:
I don’t know. I think it’s easier to play offense when you’re cold calling. When your direct mail is hit or miss, you get a response rate of about 1%, maybe 2%. Then you’re just hoping that you’re the person that they call out of the stack of cards, because it is saturated. You could definitely get deals. I’m not going to discount that. You can 100% get deals.

Brent Daniels:
For sure.

Daniel Versteeg:
Yeah.

Brent Daniels:
Listen. Marketing works.

Daniel Versteeg:
Yeah.

Brent Daniels:
It just depends on how much money you want to keep.

Daniel Versteeg:
Exactly. That’s the biggest thing for me. Because to me, I guess direct mail is just more expensive than what I want to spend for my marketing, but it works, 100%.

Brent Daniels:
Yeah. It does. That’s why you see huge companies, you see some of these bigger companies even come in, the iBuyers, they’re called. The Zillows, the Opendoor, the Offerpads. They spent so much money on marketing, and they have to do so much volume, but they’re spending literally millions of dollars in some of these bigger markets. You can’t compete against that when you’re spending even 10,000 or 20,000. You can do a deal here and there. The question is, how much can you keep? Because the point is, we would need money to keep so that we can buy assets.

Daniel Versteeg:
Yes. It’s all about profit. It’s not about revenue.

Brent Daniels:
Right. In the introduction, and I’ve said it a million times, we talk about the most proven path to financial freedom is finding discounted properties. Listen. First we find them, and then we wholesale them so that we can get the money, so that when we find the ones that we want to keep we buy those at a discount.

Daniel Versteeg:
Exactly.

Brent Daniels:
Not only are we increasing our net worth, but now we’ve got more cashflow because we bought them at a bigger discount.

Daniel Versteeg:
Absolutely.

Brent Daniels:
That’s the game. Then it’s just trading up. We’ve been playing it since we’re eight, 10, 12 years old. It’s Monopoly. You buy a single family house, and then you buy a single family house, and then you sell those and you buy an apartment. You buy a multi-family. You do that, and then all of a sudden, cashflow. It goes back to Rich Dad Poor Dad. Now your passive income’s coming in and it’s covering your expenses.

Daniel Versteeg:
Yeah. Exactly. That’s the whole point of wholesaling. I think a lot of people, it’s a quick buck, but you got to understand, I wholesaled so that I could get to the next level.

Brent Daniels:
Yes.

Daniel Versteeg:
It’s not to stay in wholesaling the whole time, because I think it’s a good cashflow business to always have, but you can always expand on it. Because you want to be a real estate investor, not just a real estate wholesaler.

Brent Daniels:
But you also flip.

Daniel Versteeg:
Yes. We do mostly wholesaling. It’s a lot of lipstick stuff.

Brent Daniels:
Okay. Love it.

Daniel Versteeg:
I don’t really like the big construction. I will purchase some if it’s 20, 30 grand in renovation costs. Won’t really want to go over that just because … I don’t know. It just takes time, is the biggest thing.

Brent Daniels:
By the way, guys, 60 deals a year he’s doing. This is not a small, little operation. How much time do you spend on your business?

Daniel Versteeg:
Not that … Probably about-

Brent Daniels:
A week.

Daniel Versteeg:
Probably 20, 30 hours.

Brent Daniels:
20, 30 hours. Okay. But it’s taken you years to be able to build this up.

Daniel Versteeg:
Yeah. This is-

Brent Daniels:
You’ve been going for five years.

Daniel Versteeg:
Five years.

Brent Daniels:
Started this in 2015, right?

Daniel Versteeg:
Yeah.

Brent Daniels:
This has taken some time to get that consistency. You get your $10,000 check. You don’t have a boss anymore. You’re off and running. You start now. Are you making cold calls yourself in the beginning, or did you hire right away?

Daniel Versteeg:
No, in the beginning it was just me. I’ll tell you right now, the anxiety of cold calling will never go away. You just have to be fearless about it. I think in the beginning, I don’t know how many hours I was doing, but it was a lot. It was probably four or five hours a day, just trying to max it out.

Brent Daniels:
Four to five hours a day, you personally making calls.

Daniel Versteeg:
Yes. Because once I quit my job, it gave me the time to do it. That’s where I was at, especially after I went broke after spending the money through direct mail. Didn’t have a lot of options.

Brent Daniels:
Listen. There’s no motivation like having to make something happen.

Daniel Versteeg:
Exactly.

Brent Daniels:
You know what I mean?

Daniel Versteeg:
My income … There was a two-week span where I drove Uber because I needed money to do it. When you’re really going through it, you will hustle through it.

Brent Daniels:
That’s incredible. Driving Uber to now working 20, 30 hours in a business that’s doing 60 deals a year.

Daniel Versteeg:
Yeah.

Brent Daniels:
Incredible. Not only 60 deals, but that’s the combination between wholesaling and flipping. You’re not going to flip these things or wholetail it … We call it flipping. For anybody that’s listening to this first time, a wholetail is when you actually buy the property, you buy the deal, and then you just clean it up a little bit and put it right back on the market, on the MLS. Do you have your license, or do you list it with somebody?

Daniel Versteeg:
No. I list it. I list it with somebody.

Brent Daniels:
You list it with an agent and then you sell it really fast, because it’s still discounted, but now you’re exposing it to every buyer in the world, right?

Daniel Versteeg:
Yeah. Exactly.

Brent Daniels:
That’s looking at it, which is on the MLS. That’s the biggest advantage of wholetailing.

Daniel Versteeg:
Yeah. Exactly. Because it doesn’t take a lot of work to purchase the property, because we’re already looking for deeply discounted. If we can buy it super deep and then put maybe 10,000, like carpet, paint, and then put it back on the MLS, the way the market is right now in Colorado, you’ll get a bigger spread that way than wholesaling it.

Brent Daniels:
Awesome. Now it went from you. You were doing four to five hours until you did enough deals to start hiring. Now you’ve got an army of people making calls for you, right?

Daniel Versteeg:
Yeah. Now we have … We try and keep it six to 10 cold callers, get them from Upwork. We basically just have on the phones, pounding the phones the whole time, and then just an acquisition who talks to the sellers once we get a lead. From there, just, dispositions, and then that’s pretty much the team. [crosstalk 00:13:42]

Brent Daniels:
Love it.

Daniel Versteeg:
Yeah.

Brent Daniels:
Love it. When Daniel’s saying six to 10, there’s fluctuation there with the callers. Because sometimes they’re not effective and you need to replace them, and you’re training people but they’re not active yet, or your lists are getting a little bit more congested. I want to get into where you’re pulling that much data, because that’s a lot of horsepower. Because they’re calling, what, full time?

Daniel Versteeg:
Yeah.

Brent Daniels:
We’re talking …

Daniel Versteeg:
Probably … I think we keep them four to five … Because after about four hours they get tired. We usually keep it about 20-hour work weeks, 20 to 25.

Brent Daniels:
Okay.

Daniel Versteeg:
Depends on the caller.

Brent Daniels:
But you’re calling between 150 and 250 hours a week.

Daniel Versteeg:
Yeah.

Brent Daniels:
That’s a lot of numbers that you have to go through. That’s a lot of lists. How do you keep your list fresh?

Daniel Versteeg:
I love absentee lists. We have, I think, four counties in Denver, and then one in Pueblo, so five counties total. We’ll pull everything as much as we can. We won’t discriminate as far as how many years owned, none of that. We’ll just max it out.

Brent Daniels:
You got to open it up.

Daniel Versteeg:
Open it up. Sometimes we’ll even do 55 and older just because we run out of data, but we just keep rotating them. Use, what? PropStream. We use REO Pro. We pull a couple lists. We use lists for us too sometimes, but …

Brent Daniels:
Where do you get your phone numbers from?

Daniel Versteeg:
Batch. I know [Jesse 00:14:59] wants that flack. Yeah, we get them from Batch Skip. They’re really great data. It really is.

Brent Daniels:
The reason we’re laughing is because this studio is literally in Batch Skip Tracing’s office building here. That’s why we’re laughing.
But, okay. You’re using PropStream. If you guys haven’t used PropStream, check it out at TTPdata.com. Definitely check that out. It’s a fantastic tool. Then you pull those lists.
An interesting thing that you said there was, you’re not looking at the length of ownership on these properties.

Daniel Versteeg:
Yeah.

Brent Daniels:
Do you go at least a year?

Daniel Versteeg:
No.

Brent Daniels:
You just go for everything?

Daniel Versteeg:
We go for everything, because sometimes we’ve come across where flippers who are new, they purchase properties that are deeply discounted. But they don’t actually have the funds to finish the project, so we can still-

Brent Daniels:
Got it. Interesting.

Daniel Versteeg:
Yeah. Or it’s the same as probate property, could go into somebody else’s name within the month. You don’t want to miss that data either.

Brent Daniels:
Incredible. Something that he’s pointing out here is, typically when you’re pulling your list for the first time, I always suggest that you go back ownership 10 years. Have them own the property for 10 years. Because, over that 10 years, if they’re absentee, and they’ve had tenants, and they haven’t been updating the property, or maybe a tenant’s just been beating the hell out of the property and they finally moved out, that’s when you get really deep discounted properties. You probably went through that.

Daniel Versteeg:
Yeah. No. Absolutely.

Brent Daniels:
But once you go through that, you got to open up.

Daniel Versteeg:
Yeah. Once you go through it. I want to point on that. Especially when you’re starting out you want to be more targeted, because you’re not probably going to have the budget. If you’re cold calling, you probably don’t have the budget to expand too wide.
Yeah, I would definitely go more targeted. If they own the property 10 plus years and it’s an absentee, there’s a good chance that they’re thinking of retirement. That’s where a lot of our properties come from. “I’m just thinking of retiring. I don’t want to be a landlord anymore.” That’s definitely a really hot list that’s worth pulling, for sure.

Brent Daniels:
I love it. You mentioned probates, so you deal with that.

Daniel Versteeg:
Yeah.

Brent Daniels:
This is a question I get all the time, all right? What do you say differently to a probate than you say to an absentee owner?

Daniel Versteeg:
I really don’t say … It’s the same thing.

Brent Daniels:
It’s the same thing?

Daniel Versteeg:
It’s the same thing. Motivation is motivation, at the end of the day.

Brent Daniels:
That’s it. You have to see if they would consider an offer on their property. That’s it. You know what I mean? You got to see where they’re at in the process. Obviously with probate, you need to handle with care. They’ve lost a loved one, or at least somebody that’s in their family if they didn’t have a great relationship. Whatever. But they are now dealing with this situation where a lot of people just don’t have the money to be able to keep that property up or renovate that property.
The stat is, 75% of people sell a property they inherit within the first 90 days of new ownership. Really hot list. Not only probate, but just regular inherited. When people do have wills and people inherit the property, they need to do something with it. It’s just, they get the ownership of the property a little bit faster, right?

Daniel Versteeg:
Absolutely.

Brent Daniels:
Yeah. You’re doing all these deals. You’ve got your team set up. You’ve got an acquisition manager?

Daniel Versteeg:
Yeah. Acquisition disposition, kind of a cold call manager who just manages … Make sure everybody’s making their calls.

Brent Daniels:
How does your cash buyer database look? Are you one of the guys … Because this is up for debate in a lot of cases. Some people say, “You know what? Have 20 people that you really trust,” so nobody goes around your back and tries to steal your deal, and then deal with the drama, or blast it out to as many people as possible so that you are getting the most out of every deal.

Daniel Versteeg:
Yeah. I think it depends on the market, because when we work in Southern Colorado, we have a handful of people that we just sell to just because of the fact that there’s a less abundance when we’re doing stuff in Denver. It makes more sense to put it out there a little bit more, just because you want more eyes on it. It really just depends.

Brent Daniels:
Got it.

Daniel Versteeg:
But I do think, at the end of the day, if you have a hot deal, you should be able to sell it and make money on it.

Brent Daniels:
For sure.

Daniel Versteeg:
I think that’s the main thing. I know there’s a debate about, “Should I get the buyers first or the deal first?” I personally think you should get the deal first.

Brent Daniels:
Right.

Daniel Versteeg:
But that’s just my opinion.

Brent Daniels:
I do too, in this market.

Daniel Versteeg:
Yeah.

Brent Daniels:
I feel like, when the supply and demand are so shifted to that there’s just a lack of supply, you’re going to find the buyer. What I’ve found is, we sell to a lot of real estate agents. Not to them personally, but to who they represent.

Daniel Versteeg:
Their client, yeah.

Brent Daniels:
Their clients. Some of them, right now, they’re bidding on properties, the 15, 20 offers on every property. They’re now telling their buyers, “You need to go in with cash. Here’s a private money resource for you. Buy it with cash and refinance afterwards, or you’re not going to have a shot.” In Denver-

Daniel Versteeg:
Yeah. That’s the way the market is. Like you said, if it’s a softer market, then definitely find what your buyer wants. It really just depends. But right now in the market, in Phoenix, too, I’m sure, it’s probably the best. If you have a deal, you’ll be able to sell it.

Brent Daniels:
Love it.

Daniel Versteeg:
Yeah.

Brent Daniels:
Let’s break down a deal.

Daniel Versteeg:
One deal. Okay.

Brent Daniels:
That’s what everybody loves. Let’s break down a deal that you’ve done so that we can ring this victory bell, here.

Daniel Versteeg:
Okay.

Brent Daniels:
You start.

Daniel Versteeg:
Earlier this year, I think it was probably a month or two ago, we had a gentleman … He was just stressing the fact that he had cancer. He needed the money, unfortunately, to plan his funeral. It was very sad, but he wanted to sell the property so he had the money for that, and so his family wouldn’t have to pay for it.
He had tenants in there. They were pretty good. [crosstalk 00:20:03]

Brent Daniels:
This was a rental property?

Daniel Versteeg:
Yeah. It was a rental property for him, but he just couldn’t manage it. He had somebody who was supposed to be managing it, but really wasn’t. He wasn’t really getting a lot of rent for it, so want to get up out from under it. We contacted him.

Brent Daniels:
This is a cold call?

Daniel Versteeg:
Yeah. Cold call.

Brent Daniels:
Love it. Yeah.

Daniel Versteeg:
That’s all we do. He was really nice. The numbers on it … I think we purchased it, or I guess got it contracted, for 53,000.

Brent Daniels:
Okay. This is Pueblo? This isn’t Denver?

Daniel Versteeg:
Yeah. This is Pueblo. This is a different-

Brent Daniels:
You can’t buy a parking spot in Denver for 53.

Daniel Versteeg:
No. Absolutely not. The average home price in Denver is about 600 grand. This is Pueblo for sure. You can get them cheaper down there. We contracted it for 53,000 and we sold it for, I want to say …

Brent Daniels:
Hold on. Before we get there, before we … What was the condition?

Daniel Versteeg:
The condition of the home? It was actually decent on the inside, but the exterior was just shot. It needed all new siding, needed a roof, gutters. It was not in the best … The interior obviously needed updated too, it just wasn’t just trash, which was nice.

Brent Daniels:
Was it a bigger house or smaller house?

Daniel Versteeg:
It was a decent sized house. I think it was a four-bedroom house, but they were nonconforming in the basement, so they couldn’t count it. It was technically a two bed with a finished basement.

Brent Daniels:
Got it.

Daniel Versteeg:
Yeah. That’s where we got lucky there.

Brent Daniels:
Got it. Nonconforming means what?

Daniel Versteeg:
Nonconforming means that there’s just not a crawlspace big enough for you to get out of the basement, so you can’t actually call it a bedroom.

Brent Daniels:
Living space.

Daniel Versteeg:
Yeah. Living space. But there was plenty of [crosstalk 00:21:30].

Brent Daniels:
I don’t know these things because Arizona doesn’t have basements.

Daniel Versteeg:
Okay.

Brent Daniels:
Everywhere else, everybody’s screaming at me right now, like, “You idiot.”
Okay. The condition is cosmetic?

Daniel Versteeg:
Yeah. Cosmetic.

Brent Daniels:
Right?

Daniel Versteeg:
Yeah.

Brent Daniels:
Then his timeline was now, obviously. The time’s ticking with his illness.

Daniel Versteeg:
Yes.

Brent Daniels:
Then the motivation was, he just wanted to get rid of it, and be able to sell it and have the cash so his family didn’t have the responsibility of that. The price?

Daniel Versteeg:
I think we ended up selling it for 85,000, about 32,000 of our assignment fee.

Brent Daniels:
From one call?

Daniel Versteeg:
From one call.

Brent Daniels:
Come on. I love it.

Daniel Versteeg:
Yeah. It is possible.

Brent Daniels:
Yeah. I promise it’s possible to do this.
That’s the thing. It’s really interesting seeing your evolution, from going from Uber, to four to five hours a day calling, to then building it up to the point where you’re hiring six to 10 people to make the calls for you. Now you’ve got an acquisition manager running the sales. Now you got a disposition manager selling the deals. Now you’re in it 20 to 30 hours, making sure … At this point, for everybody, when you’re at Daniel’s position, your job is to make sure that they’re successful.

Daniel Versteeg:
Absolutely.

Brent Daniels:
The way to do that is make sure that they have fresh lists, make sure that you’re going after the right deals, making sure that you’re motivating them, making sure that they’re held accountable for hitting the task. But, beyond that, are you going to these properties? You meeting the sellers face to face? You sitting down?

Daniel Versteeg:
Every once in a while I’ll go, but not too often.

Brent Daniels:
Sure. Right.

Daniel Versteeg:
Really, it’s kind of case-by-case basis. But, for the most part, I’m not too involved. On top of that, we like to make a lot of our offers on the phone. We’ll make the offer, and then if we need to go out to look at it face-to-face, if that’s what they really want, then we’ll do that. But for the majority of it, we can go ahead and comp the properties online, and then we’ll know where we need to be.

Brent Daniels:
Love it.

Daniel Versteeg:
Yeah.

Brent Daniels:
Is this a business that you want to have for a long time? Do you see it …

Daniel Versteeg:
Yeah.

Brent Daniels:
Does this stop?

Daniel Versteeg:
I don’t think it’ll stop. I always want to have a wholesaling business just because it’s quick money, but I do think that you should always be trying to grow.

Brent Daniels:
Sure.

Daniel Versteeg:
That’s where the wholetailing and flipping side has come into it. Eventually we want to get into more multifamily buy and hold commercial stuff.

Brent Daniels:
Sure.

Daniel Versteeg:
Yeah. Just-

Brent Daniels:
Yeah. The point I’m trying to get to here is, have patience out there, everybody. Have patience and understand that he’s just five years into it. That might sound like a crazy amount of time, but you’re going to do this forever.

Daniel Versteeg:
Exactly.

Brent Daniels:
You could do this until you’re a hundred years old. You know what I mean?

Daniel Versteeg:
Absolutely.

Brent Daniels:
It’s not like it’s something that you go home every day and you’re like, “I hate this business. I’m just exhausted, and I’m … ” You know?

Daniel Versteeg:
Yeah.

Brent Daniels:
You’re vibrant, you’re in shape. You’re excited. You have energy.

Daniel Versteeg:
Yeah. You got to be excited about it. It’s fun. You wake up, and you’re really passionate about it because you get to help people. Once you realize that you’re helping people and you’re not looking at them as dollar signs, that’s when you’ll really get successful.

Brent Daniels:
I love it. Everybody out there, if this is just your first 90 days or your first year, stick with it, I’m telling you. If you have enough quality conversations with distressed property owners, you can’t lose. It’s impossible.

Daniel Versteeg:
It’s impossible.

Brent Daniels:
You will find deals. I don’t care how bad you are or how inexperienced you are, you will find opportunities if you are. You jumped into it. It’s not like you came from a family and a background of all these real-estate tycoons.

Daniel Versteeg:
No.

Brent Daniels:
That showed you the path and were doing all these things. You jumped into it. You read a book. It sparked an interest. Then you got into the industry through an internship, and then you did your first deal. Now you’ve got a business that you’re running 20, 30 hours a week doing 60 deals.

Daniel Versteeg:
Yeah.

Brent Daniels:
It’s absolutely incredible.

Daniel Versteeg:
Yeah. It’s possible. You just got to work hard. That’s the biggest thing. If you have the work ethic, you can make anything happen.

Brent Daniels:
Incredible. Speak to somebody that’s just starting out right now. They’re getting ready. They’re obviously listening or watching this. They want to take some action. What do you think they should do?

Daniel Versteeg:
You just got to start. The biggest thing is starting. I know it’s going to be scary, there’s no way around it, but you just got to be fearless about it. The more practice you get, the better you’re going to be, the less scary it’s going to be. That’s the biggest thing. Then stay with it, because it’s not easy. It’s not easy. I know a lot of so-called gurus make it seem so easy. It’s not. You got to put the hours in, every single day.

Brent Daniels:
That’s it. Yeah.

Daniel Versteeg:
Consistency is what gets you success. Stay consistent with it even when it’s hard.

Brent Daniels:
Love it.

Daniel Versteeg:
Yeah. You should be good.

Brent Daniels:
Do you have a way that people can reach out to you if they just want to say congratulations, if they want to partner up with you or squat up with you in Colorado?

Daniel Versteeg:
Yeah. Can we put my email in the show notes?

Brent Daniels:
Yeah.

Daniel Versteeg:
Yeah. My email is millennialpropertyinvestments@gmail.com. That will go directly to me, so you can reach out there. Yeah.

Brent Daniels:
I love it.

Daniel Versteeg:
Can have some good talks.

Brent Daniels:
Everybody, listen. What an incredible, incredible, just … This is real life. He’s doing this every single day, and it’s just such an inspiration.
Listen. You can do this. You absolutely can do this, but you need to start taking the action. Just understand it’s hard work, but you can do this. You can live this life, and follow in this man’s path. Absolutely incredible.
If you are interested in joining the most proactive group in real estate investing, it is the TTP Program, the TTP family. Go to WholesalingInc.com/TTP. Check it out. Scroll down, check it all out. If it feels good in your gut, sign up for a call. We look forward to talking to you. As I always sign off, I always encourage you to talk to people. Until next time, guys, love you. See you.

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