Posted on: December 15, 2020

Today’s guest is so awesome, he’s been on the show twice! This is Luke Rotvold’s third time to grace the show. This time, he brought his business partner, Jake Landis with him. Together, they are known as the Viking Boys.

Luke is hailed the #1 most productive cold caller and with good reason. In just a few years, he has generated over $3 million from cold calls alone (all while playing video games on their couch!). Since their business exploded dramatically, they’re now trying new ventures including rentals, flips, and Airbnbs.

If you want to dominate the wholesaling business and have tons of fun while at it, this episode is for you!

Key Takeaways

  • What the core element of their business is
  • Why their business partnership works so well
  • What R2 is
  • Why partnering with someone is recommended when you’re first starting out
  • How to find someone to partner with
  • Breakdown of a cold calling deal
  • First thing people should do so they don’t spend too much money
  • The importance of hiring a mentor
  • Their advice to those who would like to give wholesaling a try
  • What their secret sauce is
  • How people can get ahold of them

RESOURCES:

If you are Ready to Explode Your Wholesaling Business, Click here to Book a Free Strategy Session with me right now!

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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 the most proven path to financial freedom is finding discounted properties. I am your host, Brent Daniels, Mr. TTP, and I am telling you if I can do it, so can you. So let’s get started. This podcast is going to be absolutely bananas, because for the third time … This is the first time I’ve ever brought somebody on for the third time. I want to introduce everybody again for the third time to Luke Rotvold and this time with his business partner, Jake Landis, better known as the Viking Boys here in Phoenix, Arizona. Welcome, guys, to the podcast.

Luke Rotvold:
I appreciate it.

Jake Landis:
Thanks, Brent.

Brent Daniels:
Guys, listen, the reason I want to hook you into this podcast early, because this one is going to be absolutely on fire, because Luke here is the guy that I tell everybody is America’s number one most productive cold caller ever. He has made personally, personally, from the calls that he has made, he’s made over $3 million in this real estate journey that you guys have been on.

Luke Rotvold:
Absolutely.

Brent Daniels:
From there, it’s not only just wholesaling now. Now, you guys are getting into development. Now, you guys are getting into Airbnbs. Now, you guys are getting into rentals, and you’re getting into flips. I mean, the business has exploded for you guys. But I really want to pull it all back-

Luke Rotvold:
For sure.

Brent Daniels:
… to what are the core elements of your guys’ business, which is being proactive.

Luke Rotvold:
Yeah, absolutely. I mean, obviously, we started together. Cold calling, it was kind of the foundation of how we got started, and we kind of took it and ran with it. We kind of built out a team over the years now and started small. We still have a pretty small, tight-knit team, but we’ve just gotten more and more productive, I guess, with that team. So the first year we started, I think we did somewhere in the ballpark of $90,000 in wholesales for the first year, and now it’s been back-to-back years where we’ll do over 100,000 a month.

Brent Daniels:
Well, first of all, let’s go back to what, 2014, right? This is when you started with me.

Luke Rotvold:
Yeah, yeah, six years.

Brent Daniels:
This is when… just in case nobody has ever heard the other interviews before… your wife, girlfriend at the time, your wife now was working with me.

Luke Rotvold:
For sure.

Brent Daniels:
She was picking up the phones. She was making calls right next to me. We were calling. We would go out. We’d go to the neighborhoods. We’d write down the ugliest houses out there. We’d get the phone numbers. We’d call them. She was like, “Listen, this isn’t me. It doesn’t fit with me.” She had enough self-awareness for it, but luckily enough, somebody picked up the ball and ran with it.

Luke Rotvold:
And I said, “Sage, who’s that handsome guy with the great hair that you’re working with?”

Brent Daniels:
That’s it. That’s it. Yeah.

Luke Rotvold:
“I think I want to work with him.”

Brent Daniels:
Yeah, that’s it. No, but then you started, and then the interesting thing is, yeah, we’ve got $3 million in all these deals we can talk about, but it took you five months to get your first one.

Luke Rotvold:
Oh, absolutely. Yeah.

Brent Daniels:
It took you five months.

Luke Rotvold:
Oh, it was tough. We didn’t have the systems in place that we have now.

Brent Daniels:
Right.

Luke Rotvold:
It was never like that. So yeah, when we first got started, I remember it was just smiling and dialing and try to learn how to get that script down. I remember, yeah, those first few months, you want to quit. You’re like, “Man, this sucks. What am I doing? I’m just spending all day on the phone. Everyone’s telling me to screw off. Everyone’s mean.” Then you just kind of navigate your way through it, and then once you pop that first deal, there’s no looking back.

Brent Daniels:
There’s no looking back.

Luke Rotvold:
No.

Brent Daniels:
You have the best strategy, because not only are you making calls three hours a day still-

Luke Rotvold:
Yes.

Brent Daniels:
… still.

Luke Rotvold:
Yes. Except for Wednesdays, but yeah.

Brent Daniels:
Except for Wednesdays. Monday, Tuesday, Thursday, Friday, you’re making calls, and you’re playing video games while you’re making calls.

Luke Rotvold:
Absolutely. Madden, baby.

Jake Landis:
I’d say he’s… I know he’s the best cold caller, but he is probably in the top 10% of Madden nationwide, too.

Brent Daniels:
Madden live.

Luke Rotvold:
No.

Jake Landis:
Yeah, this guy can play.

Brent Daniels:
Is it live online?

Luke Rotvold:
Yeah. Madden Online, yeah. So when you’re playing… Yeah, it’s live, I guess. Yeah.

Brent Daniels:
So you’re playing live while you’re making cold calls, getting deals of over $3 million?

Luke Rotvold:
Yeah. Yeah. It’s the best.

Brent Daniels:
It’s bananas.

Luke Rotvold:
What else do you want to do?

Brent Daniels:
I’m telling you, this podcast is going to be absolutely crazy.

Luke Rotvold:
How else can you build a company where you can make that kind of money while you’re sitting back playing video games.

Brent Daniels:
Right.

Luke Rotvold:
Come on.

Brent Daniels:
Well, and it really took off when you guys partnered up, right?

Luke Rotvold:
For sure, yeah.

Brent Daniels:
Because you were, you were out there, you were gun slinging, you were kind of like a gun for hire. We would give you a list. You would make the calls. We would split the deals. It was great. And then Jake came into the picture and you were like, “You know what? I want to build something. I’ve got a big vision.” You guys both have that vision. You guys have been best friends for forever, right?

Jake Landis:
Yeah.

Luke Rotvold:
Yeah.

Jake Landis:
I mean, middle school, high school.

Luke Rotvold:
Played on the same soccer team when we were like six years old.

Jake Landis:
Right.

Brent Daniels:
So you guys partner up, you guys… you rip him from me.

Jake Landis:
I know. I’m sorry. I’m sorry.

Luke Rotvold:
[crosstalk 00:06:05].

Brent Daniels:
No, no, no. He was already… He is on a rocket ship and you guys just joined together, and that’s really when you were able to find the opportunities. You were really able to organize everything, build the team, and not only that, look at different opportunities for every single deal.

Jake Landis:
Exactly.

Brent Daniels:
Right?

Luke Rotvold:
Jake is great at all the stuff that I’m awful at. He’s good at putting systems together. He’s good at kind of like doing all the backend stuff that, again, I don’t even know where to get started. So that’s where-

Jake Landis:
Our partnership works so good, because Luke cold calling and being on the sales side is not my strong suit and not what I really like to do. And then roles reversed, the backend stuff, the-

Luke Rotvold:
Putting the [crosstalk 00:06:49] together.

Jake Landis:
… marketing lists, all that stuff, Luke hates it. So it works out perfect.

Luke Rotvold:
Keep it away from me.

Jake Landis:
[crosstalk 00:06:53].

Brent Daniels:
But here’s the thing, the beautiful thing about wholesaling is this is how you get started.

Luke Rotvold:
Absolutely.

Brent Daniels:
Just like the introduction to this podcast, we know that finding discounted properties is the most proven path, but it’s only the most proven path to financial freedom once you start making the income from wholesale and then what you do with the income that you make from wholesale-

Luke Rotvold:
Don’t blow it on cars.

Brent Daniels:
Yeah. Right.

Luke Rotvold:
No, I’m just joking.

Brent Daniels:
But this is where you come in, Jake. I mean, this is really where you come in. You guys have been really, really, really disciplined and not going bananas with all of your expenses, keeping it really tight, keeping a tight group. Not only that, but you’re like, “Listen, I think on this deal we can make double or triple if we do a flip, if we buy and hold it, if we rent it out, if we develop this piece of land.” I mean, that’s really coming from you really choosing where it’s at and letting him be free to just do what he does best.

Jake Landis:
Absolutely, yeah.

Brent Daniels:
And I think that’s the perfect partnership, right? Because a lot of people try to do… let you do all the calls and I’m going to just be back here and sell all the deals and everything. And then kind of like after a couple of years it’s like, “Wait a second, I’m getting all the deals. You’re just selling the deal. It’s too easy. We need to do more.” You’re taking it. You’re building up this whole strategy of where you guys want to go as far as the Viking Boys, as a company.

Luke Rotvold:
Yeah, exactly. And advice to people, if you’re not good at one of those things, don’t try to do it.

Brent Daniels:
Right. Right.

Luke Rotvold:
Don’t do it. If you don’t enjoy it, if you don’t want to do it, don’t do it.

Brent Daniels:
It’s really interesting. I read this really interesting book called Who, Not How, and in there they talk about procrastination is actually wisdom. Right?

Luke Rotvold:
I’ve heard this before.

Brent Daniels:
And you and I… Listen, you and I are very similar in this. We’re running, we’re gunning, we’re expresses, we’re going to go. We procrastinate all the organizational, all the operational, all the stuff.

Luke Rotvold:
Yep, that sounds-

Jake Landis:
Yeah.

Luke Rotvold:
… pretty accurate.

Brent Daniels:
But there’s some wisdom to that because then you open it up to who can handle that. That’s Jake.

Jake Landis:
Yeah. Yeah.

Luke Rotvold:
No, for sure.

Brent Daniels:
Right?

Luke Rotvold:
For sure.

Jake Landis:
[crosstalk 00:08:48].

Brent Daniels:
It’s absolutely incredible. So let’s talk about your team. Let’s talk about what that looks like. So for the first year, it’s just you guys, right?

Luke Rotvold:
Yeah, just Jake and I.

Brent Daniels:
And you guys were kind of building this thing together. You guys were finding opportunities. You guys were kind of dipping your toes a little bit into flips. I mean, your first year was what? 80K to 90k [crosstalk 00:09:06]?

Luke Rotvold:
No, we were wholesaling everything getting started.

Brent Daniels:
Everything?

Luke Rotvold:
We didn’t have enough money to be like, Hey, “Let’s…” We didn’t have the money or the connections to go start flipping and stuff. So it wasn’t really ’till probably year three that we really started jumping in and doing some flips. And then, again, this is kind of that cycle. The cycle that everyone says that you take is wholesaling into flipping, flipping into keeping properties. That’s the cycle that we’ve kind of gone. And so, yeah, when we started flipping, it was just a matter of us being able to get some cash built up and then kind of start running with it.

Brent Daniels:
I love that you just broke it down that way, because I don’t think a lot of people know that.

Luke Rotvold:
Yeah.

Brent Daniels:
I don’t think a lot of people know that it’s wholesaling and then you get into some opportunities with flips, then you get the opportunity for the buy and hold. That is the progression.

Luke Rotvold:
And then developing comes after that.

Brent Daniels:
Right. It does. That is the path. Every… When you talk to somebody, people don’t want to be a wholesaler forever.

Luke Rotvold:
Right.

Brent Daniels:
They want to be real estate investors, to be written… Because wholesaling is not real estate investing.

Luke Rotvold:
No.
No one cold call all day long.

Brent Daniels:
Right.

Jake Landis:
It’s deal finding.

Luke Rotvold:
Every day.

Jake Landis:
Yeah.

Brent Daniels:
Real estate… Wholesaling is deal finding that’s exactly… That’s all I said. Let’s keep it simple. What wholesaling is, throw away the word wholesale and then look at what it is, is we find deals. We source real estate opportunities. But as you guys build up your experience and your resume and all these different deals that you guys put together, all of a sudden, now you guys know that you have other potential that you can do. So let me ask Jake this. When you guys have a deal, you get it locked up, what is the process that you go through to decide, are we wholesaling it? Are we flipping it? Are we going to keep it?

Jake Landis:
Yep. So what we kind of do is we have a system that we run our numbers on. I think Luke actually did a video on this real recently to the system we use.

Luke Rotvold:
Yeah.

Jake Landis:
So what we’ll do is obviously we’ll look at the comps, we’ll see what the condition of the property is now, and then we’ll see, “Okay, what could this house sell for on the market in its current condition without… really light updates?” And then what can we push it at? And then also running those numbers. Of course, when you run the numbers for the wholesale, we use the push number.

Brent Daniels:
Sure.

Luke Rotvold:
Always. You have to.

Jake Landis:
Especially with today’s market.

Luke Rotvold:
[crosstalk 00:11:16] getting it now.

Jake Landis:
Yeah. Obviously, what we’ve seen is the wholesales are much, much smaller than if you actually are the investor and flip it. So like Luke was saying, now that we have more cash and we have the connections, it’s really a no-brainer. Unless it’s just a juicy, juicy, wholesale, we’re most likely going to flip it.

Brent Daniels:
Got it.

Jake Landis:
Yeah.

Brent Daniels:
Love it. So you guys are now to the point after years, after three, four years of flip first, wholesale second?

Luke Rotvold:
Yeah, absolutely.

Jake Landis:
Yeah.

Luke Rotvold:
Yeah. Like Jake said, we pretty much… if we’re not going to make, usually I would say 30, if we’re not going to make 30 on a wholesale, we should flip it down.

Brent Daniels:
$30,000?

Luke Rotvold:
Yeah.

Brent Daniels:
So what an average teacher makes in a year?

Luke Rotvold:
Right.

Brent Daniels:
Right? Yeah?

Luke Rotvold:
Yeah.

Jake Landis:
Yeah.

Brent Daniels:
Yeah. Right. In one deal?

Luke Rotvold:
Yeah.

Brent Daniels:
Yeah.

Luke Rotvold:
That’s kind of like the number for us.

Brent Daniels:
And you guys do like a hundred deals? [crosstalk 00:12:10].

Luke Rotvold:
That’s kind of the number for us of where it’s like, “Okay, listen, if it’s…” Because a lot of times we’ve kind of gotten to the point where it’s like, you make a quick 10 or it’s like if you decide to flip it and you can make 40, upwards of 50, it’s not even a question. So it’s like where you kind of start seeing the balance. It’s like, “Okay, if we could make 30 quickly versus maybe say 60,” then it kind of becomes a little bit more like, “Do we want just a quick 30 or do you want to go through the whole process?” But we’ve pretty much decided to kind of go away from every wholesale that’s kind of underneath for the most part. Yeah.

Brent Daniels:
Love it.

Luke Rotvold:
But, obviously, cash comes into account if you’re going to flip it or wholesale it. Same thing with how loaded up your contractors and how fast they can be able to jump on something. So those are all things that kind of factor into it. And then on the buy and hold side, it’s really the only things that we’re buying and holding are either multi-family. We like R2 lots and different lots like that. So if anyone has R2 lots send them our way.

Brent Daniels:
Absolutely.

Luke Rotvold:
We’re looking to build. And then also-

Brent Daniels:
What can you build on an R2 lot? Because people are saying, “What is R3? R2-D2? What are we talking about? What’s R2?”

Luke Rotvold:
Yeah, yeah, exactly.

Jake Landis:
R2-

Luke Rotvold:
It’s a lot with R2-D2-

Jake Landis:
Exactly.

Luke Rotvold:
… standing on the lot.

Brent Daniels:
Okay. There’s a lot of those.

Luke Rotvold:
They’re rare.

Jake Landis:
Yeah, yeah.

Luke Rotvold:
But if you can find them they’re worth lot. So R2 is where you can build a duplex.

Brent Daniels:
Got it. Residential 2-

Luke Rotvold:
Exactly. Yeah.

Brent Daniels:
… is kind of what the R2 stands for.

Luke Rotvold:
Right, exactly.

Brent Daniels:
You can build a duplex on it.

Luke Rotvold:
Multi-unit.

Brent Daniels:
Some lots are zoned for it.

Luke Rotvold:
Yep.

Brent Daniels:
Some aren’t, some are…

Luke Rotvold:
Yeah.

Brent Daniels:
I mean, anybody, if you ever get properties that are zoned multi-family that have a single-family house on it, I am telling you those are hot, hot, hot, because this is proof. This is proof that people are looking to buy those, tear down a property and build a two-unit.

Luke Rotvold:
We’ll pay much more than they’re actually worth, because yeah, exactly, you demo the property and you throw up a new a new duplex or… Right now we’re about to start on a new triplex.

Brent Daniels:
Love it.

Luke Rotvold:
And so it’s going to be a lot of fun.

Brent Daniels:
Just to mention, I just want to plug your guys’ YouTube channel because I love it. It’s really showing what you guys are doing. It’s the Viking Boys on YouTube, right?

Luke Rotvold:
Yeah, exactly.

Brent Daniels:
The Viking Boys. Definitely checked these guys out. They put out a lot. You know how I’m usually here in the office, I’m going through things? These guys are out in the field and they are showing their flips and they’re going through all their things and they’re having a really great time. You can see the real dynamic. Definitely check out the Viking Boys on YouTube.

Luke Rotvold:
Appreciate that. Thank you.

Brent Daniels:
So definitely check that out. So really interesting. So you start wholesaling. How much money do you think you should save up from the deals that you do wholesaling to start getting into flips? And what are your relationships with… because I assume you guys get private money and that covers some of your fix-up costs, maybe all of your fix-up costs. How much should people save up first? That’s the first question. What do you think is a good number?

Luke Rotvold:
I would recommend getting enough money to do one flip. Just to start with one, I would say that number is… if you’ve got good connections, if you’ve already kind of spent the time to build those connections, you don’t need as much because you’ll be able to find-

Brent Daniels:
Say they have no connections.

Luke Rotvold:
If you’ve got no connections, I would-

Jake Landis:
You’re going to need to chunk.

Luke Rotvold:
You’re going to… Yeah. You’re going to need-

Jake Landis:
Most likely, probably 70 to 80 grand.

Luke Rotvold:
Exactly.

Brent Daniels:
Okay. That’s good.

Jake Landis:
Because most of the time when you’re just getting started any hard money lender is going to want you to put 20% down. They’re not going to cover any rehab. And, of course, your interest rate is going to be 12 to 15%.

Luke Rotvold:
Fifteen percent.

Brent Daniels:
Right. Right.

Jake Landis:
So-

Luke Rotvold:
Yeah. Then once you start getting that formula down and then you can actually prove to your lender that, “Hey, I know what I’m doing,” then they’ll start lowering your interest rate. They’ll start asking for less money down. So you might go from 20% down upfront, now you work your way down to 10% down. And then at first they’re going to be like, “No, we’re not going to cover your rehab. That’s on you.” And then once you kind of start proving yourself again, then they’ll say, “Hey, I’ll cover 50% of rehab. I’ll cover 80% of rehab. Now, we’ll cover 100% of rehab.” So just the amount of properties that you can do, obviously, just jumps like crazy when you have to put less down.

Brent Daniels:
The most important thing is start with one.

Luke Rotvold:
Yes, start with one.

Brent Daniels:
Get it done, show it, do it, do it again, repeat, repeat, repeat, and then keep going back. Keep building that relationship with them.

Luke Rotvold:
Yeah. And I’m a big proponent too, though, of… Honestly, like Jake said, if you’re going to take a flip down by yourself, you’re probably going to need 70 to 80 grand, especially in Arizona. If you’re in different markets, like Louisville, maybe you’re not going to need that much because you’re buying houses for less. But I’m huge on your very first one, if you don’t really know what you’re doing, partner with someone. Do 50% of a deal. Do 25% of a deal. Just find-

Brent Daniels:
How do you find a partner [crosstalk 00:16:36]?

Luke Rotvold:
Learn. [crosstalk 00:16:37].

Jake Landis:
If you have a deal, you put it on social media-

Luke Rotvold:
Yeah, exactly.

Jake Landis:
… and you say, “Hey, I’m looking for a partner,” people are looking-

Brent Daniels:
So you’re saying literally just make a post of a video of you, maybe at the house saying, “I’m buying this house.”

Jake Landis:
“I’ve got this property.”

Brent Daniels:
“I want to do a flip.”

Jake Landis:
[crosstalk 00:16:49].

Brent Daniels:
“I need some… I need a partner that has experience.”

Jake Landis:
Yes.

Brent Daniels:
“Please, if you know anybody, reach out.”

Jake Landis:
You’re going to need to give out the numbers, obviously. And then, obviously-

Brent Daniels:
Easy as that?

Luke Rotvold:
It’s so easy.

Jake Landis:
people are going to [crosstalk 00:16:58] the numbers. And I mean-

Luke Rotvold:
If it’s a deal-

Jake Landis:
If it’s a deal, people will jump on it and partner with you all day.

Brent Daniels:
Yeah.

Jake Landis:
All day long.

Brent Daniels:
It’s just being loud.

Jake Landis:
Exactly.

Brent Daniels:
That’s what I-

Luke Rotvold:
Exactly.

Brent Daniels:
I try to scream at guys. I scream and scream and scream. Be loud. Don’t be secret. Get on social media. Let people know that you’re wholesaling real estate, you’re looking for buyers, you’re looking for deals, you’re looking for opportunities. And then you can transition to, “I’m looking for somebody to partner with.” And even if you have to split it, it’s worth so much more.

Luke Rotvold:
Absolutely.

Brent Daniels:
Because the number one nightmare, the reason a lot of people don’t do flips and just stay in this kind of circular loop of doing wholesale deals year after year after year is because they did one, they did two, they made mistakes, they hated the process. They lost money or broke even. It took six months instead of 30 to 60 days. And they’re just tired of it.

Luke Rotvold:
Exactly.

Brent Daniels:
So they just want to make quick wholesale deals.

Luke Rotvold:
For sure.

Brent Daniels:
Right?

Luke Rotvold:
And I’m not opposed to that.

Brent Daniels:
Right.

Luke Rotvold:
If you don’t like that process, if you don’t like the flipping process, don’t do it.

Brent Daniels:
But I think right now we are in a market where you can make so much more flipping than you ever have-

Luke Rotvold:
It’s crazy. It’s crazy.

Brent Daniels:
… in certain markets. This is nationwide, right?

Luke Rotvold:
Yeah.

Brent Daniels:
The podcast. So you got to check out your area and check out how many properties are on the market and how many are pending on the market-

Luke Rotvold:
For sure.

Brent Daniels:
… and find out how hot the market is. But if it’s a sellers market, how long do your flips stay on the market?

Luke Rotvold:
So we just bought a town home and we were like, “Okay, let’s… we’ll do a light rehab,” which is called a whole-tale. So we did a super light rehab on it and we’re like, “Okay, numbers on this. If we get 285 on this, we’re going to kill it. That’d be great if we get 285. Let’s go for that.” We finished it out. We’re like, “Came up pretty nice.”

Jake Landis:
Yeah. [crosstalk 00:18:36].

Luke Rotvold:
We hardly put anything into it. We’re like, “Screw it. Let’s go for 300. The market’s super hot.” Three full-price offers the first day at 300. We were going to be stoked if we sold at 285.

Brent Daniels:
Right.

Jake Landis:
Yeah. So that’s just what-

Luke Rotvold:
It’s crazy. That’s what’s going on right now.

Brent Daniels:
That’s what’s going on.

Jake Landis:
I mean, it’s not just on that one. It’s on all of them.

Brent Daniels:
Yeah, exactly.

Jake Landis:
First week, 100%. They’re going under [inaudible 00:18:54].

Luke Rotvold:
If you’re not just stupidly priced.

Jake Landis:
Yeah, of course.

Brent Daniels:
So the instruction here for everybody… Because this podcast is not just educating and inspiring. This is instruction. Like go do this. Find a deal. Work the numbers. If it looks like a great flip that you can make, I would say double what you would on a wholesale. See, I like people getting early wins when they start off.

Luke Rotvold:
For sure.

Brent Daniels:
I like the income coming in. I like them going from faith that they can do it to it being a fact. The first time you get that check, the first time, you’re like, “Oh!” Right?

Jake Landis:
Still. Still. Still. When you get a deal, there is no better feeling.

Brent Daniels:
Six years in.

Jake Landis:
Yeah.

Luke Rotvold:
I still say, the day that you lock up a deal to me is still 10 times better than even the day you sell it.

Brent Daniels:
Sure.

Luke Rotvold:
For me, because you’re-

Brent Daniels:
Yeah.

Jake Landis:
I thought you were going somewhere else with that.

Brent Daniels:
Yeah, no. Yeah. Not there.

Jake Landis:
Yeah.

Brent Daniels:
It’s… my wife might hear this.

Jake Landis:
Yeah, yeah.

Brent Daniels:
But the, the instruction here is once you get to the point where you can see that you can make significantly more flipping, get the deal locked up, get loud on social media, find somebody to partner with, and get that experience.

Luke Rotvold:
Yeah. And I think another thing, like you said, get loud on social media. We’ve only kind of recently started being a lot more active. I think at first you’re very worried. You’re like, “Oh, are people going to think that I’m being an asshole because I’m like, ‘Oh, look it, I just got this deal'”? And then you get to the point where it’s like, you don’t care. Again, you’re not trying to be an asshole, but it’s like, “Listen, I’m showing you what we’re doing and this is helping our business.” Because when you run your own business, you don’t have people paying for marketing for you. People have to understand that, that if you work for a company your company is paying for marketing. They’re bringing you clients, whatever it is. When you own your own business, as you know as well, you have to bring all that in.

Brent Daniels:
Well, is it-

Luke Rotvold:
You’re responsible for all of that.

Brent Daniels:
Listen, the fact is there’s a big difference on social media if you’re bragging versus if you’re networking, right?

Luke Rotvold:
Right.

Jake Landis:
Yep.

Brent Daniels:
If you’re networking, if you’re genuinely looking to make connections there, that’s all in the way that you say it. That’s in your tone. That’s the way you present yourself. As opposed to, “Look at all this money I have.” Throwing cash around and being an asshole, like you were saying.

Luke Rotvold:
Exactly.

Brent Daniels:
You know what I mean?

Luke Rotvold:
For sure.

Brent Daniels:
So I think that there’s a tasteful way to do it. So everybody gets excited on this show to break down a deal. I want to break down a deal for cold calling, right?

Luke Rotvold:
Okay.

Brent Daniels:
I want a cold calling deal.

Luke Rotvold:
Perfect.

Brent Daniels:
Something that you called and-

Luke Rotvold:
Now, we’re talking.

Brent Daniels:
… and took some time. Maybe you had to do some followup, whatever it is. And it was a big opportunity. You guys made a big, big deal.

Luke Rotvold:
For sure. So one of my favorite ones was a few months back now. It was a lead that I’d been following up with for a long time, probably about nine months or so. The lady just kept saying, “Not quite ready.”

Brent Daniels:
Wait, wait, wait. So was it a specific list you called on?

Luke Rotvold:
Ask this guy.

Jake Landis:
Yeah.

Brent Daniels:
Yeah? Okay.

Jake Landis:
It was a high equity or no data absentee owner.

Brent Daniels:
Okay.

Luke Rotvold:
Yeah.

Brent Daniels:
Where’d you pull it from?

Jake Landis:
ListSource.

Brent Daniels:
ListSource?

Jake Landis:
Yeah.

Brent Daniels:
Okay, great.

Jake Landis:
Yeah. We still use ListSource. It’s inexpensive.

Brent Daniels:
So you’ve got ListSource. You pull no equity or unknown equity?

Jake Landis:
Yeah.

Brent Daniels:
And high equity?

Jake Landis:
Exactly.

Brent Daniels:
Absentee?

Jake Landis:
Yep.

Brent Daniels:
Okay, got it.

Jake Landis:
Okay. Yeah.

Brent Daniels:
By the way, if you’re just listening to this, absentee means that the owner doesn’t live in the property. It’s probably a rental for them or they inherited or it’s a second home or something.

Luke Rotvold:
Right. So this was a house up north again. And then the owners lived in Sun City? Lived in Phoenix?

Brent Daniels:
Okay.

Luke Rotvold:
Their main house was in Sun City. So anyway, called her, followed up for about nine months. She just said, “I’m not quite-”

Brent Daniels:
Nine months?

Luke Rotvold:
Nine months. Yeah.

Brent Daniels:
How do you follow up for nine months? How long? Because I get that-

Jake Landis:
He is the king of followup.

Brent Daniels:
I know, he is. Yeah.

Luke Rotvold:
I don’t miss my followup calls.

Brent Daniels:
I know. I know you don’t. But what is your strategy there? Because one of the biggest questions I get is, what do I do for lead for lead followup?

Luke Rotvold:
So, obviously, a lot of people use systems. Podio, stuff like that. You know, I’m [crosstalk 00:22:32].

Brent Daniels:
Yeah, yeah.

Luke Rotvold:
Come on. You know I haven’t changed.

Brent Daniels:
Me too.

Luke Rotvold:
You know I haven’t changed.

Brent Daniels:
Me too.

Luke Rotvold:
You’ve got my piece of paper, baby. And so no, I just… I pull them out and then I call them. I usually call if it’s every… If it… So I’m going to give them a call every two months, I’ll call them every month. I was checking a-

Jake Landis:
You just cut it in half.

Luke Rotvold:
Exactly. Cut it in half. Call them. Say, “Hey, checking in on… just checking in on you. Wanted to see if anything’s changed.” “Hey, Sally. Has anything changed for you? Are you looking to sell the property yet? You know I’m here for you. I love you.” That kind of stuff.

Brent Daniels:
Sure. Sure.

Luke Rotvold:
No, I mean, like I said, she just wasn’t quite ready. And then just a random Sunday, I woke up to a phone call and I’m like, “Okay, it’s a random number.” I didn’t have her number saved. She was like, “Hey, it’s so-and-so. I’m ready.” I’m like, “Ah.” It’s like those are the best feelings too. It’s the best.

Jake Landis:
Even the month before, two months before, she said… She kind of told you to stop calling, but-

Luke Rotvold:
I called her like two weeks-

Jake Landis:
“I’m not interested in selling.”

Luke Rotvold:
It was like two weeks before. She was like, “I’m just not there. I’m not there.”

Brent Daniels:
Now, how did she save your number? How did you get her to do that?

Luke Rotvold:
I tell them to. I make sure they do.

Brent Daniels:
What do you tell them?

Luke Rotvold:
I say, “Yeah, you still have my phone number?” And then they’ll be like, “You know I do.” And I’m like, “Okay, could you read it for me real quick?” “Yeah. It’s…” And whatever. They’ll read it off. “Yep. Perfect. Sounds good.”

Brent Daniels:
Do you tell them to save it in their phone?

Luke Rotvold:
Then I say, “As you know, if you need anything, if you need anything, let me know. I’m here for you.” That’s what I always tell them.

Brent Daniels:
[crosstalk 00:23:52]. “Listen-”

Luke Rotvold:
“Whenever you’re ready, I’m here.”

Brent Daniels:
“… save my number in your phone as Brent Homebuyer. Brent Homebuyer.”

Luke Rotvold:
Yeah. Yeah. Yeah, exactly.

Brent Daniels:
“Just save it in there. That way, when I call you know it’s me. If you don’t want to talk to me you can just click it.”

Luke Rotvold:
Yeah, exactly.

Brent Daniels:
“It’s not some unknown. But if you need to reach me for any reason, you can text me. It’s easy. You can call me.”

Luke Rotvold:
For sure.

Brent Daniels:
Make it all convenient for them.

Luke Rotvold:
Yeah, exactly. Now, so she called on Sunday and she was like, “Hey, let’s do this. Something happened. I’m ready. I’m ready to make this happen. I’m ready to roll.” So it was actually… Yeah, it was when COVID was happening. So I just let her know. I was like, “Hey, I know the number we were talking about was right in the ballpark of like 115.” At 115, it was like a no-brainer deal. We were like, “We get this at 115, we’re going to kill it.” [crosstalk 00:24:32].

Brent Daniels:
Yeah. Yeah.

Luke Rotvold:
So I was like, “I just got to be honest with you. Things have changed because there’s a lot more uncertainty in the market right now.”

Brent Daniels:
This was after COVID?

Luke Rotvold:
This was during COVID. Yeah, yeah.

Brent Daniels:
Yeah, got it. Okay.

Luke Rotvold:
So I was like, “You just have to understand that I still absolutely want to buy the property, but I’m going to have to be lower.” So she was like, “Oh, okay. How much lower?” “We’re probably going to need to be in that ballpark, like 100 to 105.” She’s like, “Okay, well, if you can do 105, I can make it work.” So I’m like, “Sounds great.” So I think that people always have to understand, you have to throw out lower numbers because if you don’t do that, if you don’t at least throw it, the offer on the table, they’re not going to take it. There’s no point staying at your number. You might as well, every single time you call someone, go for a lower number, lower number, lower number.

Brent Daniels:
I love it.

Luke Rotvold:
Because it’s like, why not? The worst they’re going to say is no. And then you say, “Okay, well, I’ll buy at 115.” And that’s a great deal. But might as well try to get an extra 10 out of it. So she was like, “Okay, you know, yeah. If you can do the 105, we’ll go ahead and move forward.” So locked it up at 105, and so we walked around the neighborhood because it’s a really hot area. So we went to a couple of the neighbors and we’d said, “Hey, we just picked up this property. I know you know which property I’m talking about.” And they’re like, “Yeah, I do.” And then one of the neighbors we went back and forth with on prices. We started high. And then he ended up closing on it at 165.

Brent Daniels:
165. So you made 60,000 from the neighbor.

Jake Landis:
[crosstalk 00:25:58] to the neighbor.

Brent Daniels:
So here’s a beautiful game. Real quick, before we ring this victory [crosstalk 00:00:26:01].

Jake Landis:
Yeah.

Brent Daniels:
So you guys went out to the neighbors to sell this deal.

Jake Landis:
Yeah.

Brent Daniels:
Why did you decide to do that?

Jake Landis:
It was actually interesting. They actually… We were out there walking the property and he peaked his head over and was asking questions.

Luke Rotvold:
[crosstalk 00:26:16] we were walking it.

Jake Landis:
We were like, “I bet you he’s interested.”

Luke Rotvold:
Yeah.

Jake Landis:
And then Luke was like, “We should go door knock all of the neighbors right around here and see what… if anyone’s interested.”

Luke Rotvold:
Because it’s in a neighborhood where all the houses in the area are super nice and it’s a really kind of cool area. There’s the [inaudible 00:26:31] house. That was this house. This house was the one where it was like, “Oh, man, this thing is like… It’s a turd.” Just awful. So we put it in the air and be like, “Yeah, we bought that property. We’ve got it.” And the guy that ended up buying it, his wife was so mad.

Jake Landis:
Yeah.

Luke Rotvold:
She was like, “I door knocked that house like five times. I sent mailers. I got the lady’s number. I called her. I don’t know why. What did you guys do? What did you guys do? And why did you get it [crosstalk 00:26:57]?”

Jake Landis:
She was [crosstalk 00:26:58].

Brent Daniels:
We called them.

Luke Rotvold:
She was mad. She was big mad.

Brent Daniels:
Listen, pick up the phone. The phone.

Jake Landis:
Yeah.

Luke Rotvold:
I know. And that’s what I told her. And I was like… She was like, “I called her too. I don’t understand why you got it.” So anyway.

Brent Daniels:
Ring that, 60,000.

Luke Rotvold:
That was a good one. So yeah. It was a good wholesale. And again, we honestly went back and forth on it because we thought about keeping it as a long-term property. But it was one of those ones where you’d have to knock it down and you’re going to have to put some serious money into it.

Jake Landis:
Yeah, you’re going to [crosstalk 00:27:28] for cash.

Brent Daniels:
It was too much?

Luke Rotvold:
Yeah.

Brent Daniels:
Too much rehab costs?

Luke Rotvold:
Yeah. Even if we did it as a flip, we would probably do a value add, do an addition. And it would have… The numbers were insane. We probably could have made over 120 grand. But the amount of time going through the city permits.

Jake Landis:
It would have been a year process.

Luke Rotvold:
It would’ve, yeah. So we were like let’s take the quick money on this one and-

Jake Landis:
Quick 60s don’t hurt.

Luke Rotvold:
Yeah, 60… [crosstalk 00:27:56].

Brent Daniels:
So that’s right on that borderline of do you keep it or-

Luke Rotvold:
Yeah, yeah, exactly.

Jake Landis:
[crosstalk 00:27:59].

Brent Daniels:
Love it. Love it. So speak to anybody that’s in the position right now. They’ve got things rolling. They’re getting going. They’re getting some deals done. What do you think is the first thing that they should do to help them get organized so that they can start hiring people so that they can keep their finances in check? What are some things that you have done to make sure that Luke doesn’t spend too much money?

Jake Landis:
Luke loves spending money.

Luke Rotvold:
I do.

Jake Landis:
So no, wait-

Luke Rotvold:
On houses.

Jake Landis:
Yeah. For sure. But we’re always about running super, super lean. That is one thing that I will… There’s nothing against big teams. A lot of people obviously are killing it with big teams. That’s just not-

Brent Daniels:
They don’t make any money though.

Jake Landis:
Yeah, that’s just not-

Brent Daniels:
They don’t net any money.

Jake Landis:
Exactly.

Brent Daniels:
I talk about it all the time in here. Don’t get tricked.

Jake Landis:
Yeah. It’s big, big numbers. But guess what? There’s a lot of payroll.

Brent Daniels:
Tiny, tiny profits.

Jake Landis:
There’s a lot of stuff that’s going into the house.

Luke Rotvold:
[crosstalk 00:28:52] mouths to feed.

Jake Landis:
So what we’ve always done is we’ve re-invested everything. We don’t pay ourselves much.

Luke Rotvold:
No.

Jake Landis:
We just re-invest, rollback into the business.

Luke Rotvold:
[crosstalk 00:29:01] at that.

Jake Landis:
Whether it’s marketing systems or rental properties. So if you’re just starting to get deals, I would say that is the biggest thing. Don’t go out spend your money. Literally re-invest it. But the biggest thing is I would say is hire someone that knows where you want to be, a mentor that can help you build out those systems-

Brent Daniels:
Love it.

Jake Landis:
… and tell you what to do. Because let’s say if you hire someone for five to 10 grand. They are going to cut so much time out of that growth pattern for five to 10 grand. It’ll be so worth it.

Brent Daniels:
Love it.

Jake Landis:
Yeah. For sure.

Brent Daniels:
And speak to somebody now that’s never done a deal, Luke. They’re getting ready. We’ve convinced them. This podcast has finally convinced him. I could pick up the phone. I can call people. I can get deals. I listened to this guy in the wholesaling Inc podcast. He did over $3 million from picking up the phone, playing video games.

Luke Rotvold:
That’s right.

Brent Daniels:
What advice would you give somebody that’s never done a deal. They’re getting ready to pick up the phone, but they’re scared of making the call. They just can’t. They’re just-

Luke Rotvold:
Yeah. It’s just going to come down to repetition. It’s like anything. It’s scary at first because you’re calling people that you don’t know. But something that you got to think about, this was a big thing for me too, is I actually had done… we had done a multi-level marketing company. And multi-level marketing, you’re calling all your family and friends.

Brent Daniels:
You were 19 or something, right?

Luke Rotvold:
Yeah. First one we got into… Yeah. We were 17 or something like that. But you’re calling family and friends, and that is-

Jake Landis:
That is way frightening.

Luke Rotvold:
You want to talk about tough? That’s tough.

Jake Landis:
It’s way worse.

Luke Rotvold:
That’s hard.

Jake Landis:
Way hard.

Luke Rotvold:
That’s way harder.

Brent Daniels:
Yeah.

Luke Rotvold:
So I remember switching from that to calling people I don’t know. I was like, “I’m never going to see this person ever. And if I do, it’s ’cause I’m getting a deal out of it.” So it’s like the only way you’re ever going to meet these people is if you’re getting a deal and so it’s like, you just have to remember that, that it’s not… It seems scary, but it’s not. You don’t know these people. You’re not you’re not going to ever meet them. You want to meet them, obviously. But you just got to keep that in mind. I know it’s tough, but you just got to stick to it.

Brent Daniels:
Well, and I think your tone of voice is one of your… is like your secret sauce, right?

Luke Rotvold:
Mm-hmm (affirmative).

Brent Daniels:
It’s soft. It’s comfortable. It’s a little bit unsure. Right?

Luke Rotvold:
Yeah. Yeah, exactly.

Brent Daniels:
It’s a little… But you’re not going real aggressive.

Luke Rotvold:
No.

Brent Daniels:
You’re not going too fast.

Luke Rotvold:
No.

Brent Daniels:
You kind of slow it down.

Luke Rotvold:
Yeah.

Brent Daniels:
You’re really smooth with it. I think every time that I would get on the phone and use that and be able to… I don’t go bombastic. I don’t go crazy. I’m trying to listen to what that person sounds like and communicate with them. But I want to be on their team. I want to be where they already know me. I want to build that instant connection, and that all… I think, in my opinion, it happens with your tone of voice.

Luke Rotvold:
Yeah. So again, for doing this for six years, you start picking up on things. You get better at things. There’s things that… You just learn from yourself. I remember just one small thing was when I first got started when people would say, “Oh, what are you going to do? Are you going to flip my property? Are you going to buy it? What are you going to do?” I remember, I used to say like, “Oh, yeah we do flip.” And then when you say the word flip, it turns people off.

Brent Daniels:
Yes.

Luke Rotvold:
So you never say-

Brent Daniels:
When you say the word investor.

Jake Landis:
Yep.

Luke Rotvold:
Yeah. So you never say that, “I’m going to flip your property.”

Jake Landis:
Yeah.

Luke Rotvold:
Or that, “We might flip the property.” You never say that. You say, “We would potentially rehab it and we’d maybe resell it.”

Brent Daniels:
I say tasteful remodel.

Luke Rotvold:
Yeah. So if you say a tasteful remodel or if you say a rehab and resell, that sounds 10 times… People associate flip with you’re trying to take me. You’re going to take… You’re going to try to come take my house and take my equity.”

Jake Landis:
Well, they see all the shows. They think we make [crosstalk 00:32:26] stupid money. And it’s like those numbers aren’t even real.

Luke Rotvold:
So there’s just so many things that you, you can just take that you just… Exactly like you said, tonality, speaking softer and quieter and with women-

Brent Daniels:
And you’re actively listening.

Luke Rotvold:
… women versus men. Even men, you talk with a more direct tone and you kind of want to match them and stuff like that. So yeah. Again, you’re only going to get that… You’re only going to get these tips… You’re only going to get these things with actually making the calls.

Brent Daniels:
Doing it.

Luke Rotvold:
With actually sitting there and calling for hours and hours and hours. Something that… I don’t know if I ever told you this, but when I used to call with you, my goal was for a certain amount of contacts. So we had the contact trackers and I’ll be like, “Okay, if I make 30 contacts today or 40 contacts, that’s what I’m done.” And so I would highly recommend making this change if that’s the route that you’re going. So I remember, I was doing 30, 40 contacts per day. And then sometimes though, if you’re at the very beginning of a list, you can make 30, 40 contacts an hour and a half. So you’re like, “Man, that was quick. So I’m done today.” And then I just remember thinking, “Man, I need to kind of switch this so I can kind of be more productive.” So I switched it from tracking content to calling for a time period instead.
So instead of contact tracking, I was like, “Okay, well, now I’m going to call for three hours a day, no matter what, or four hours a day.” And then you get to the point where it’s like, “Okay, I’m calling today for six hours.” When you do that, I noticed my contacts, when I was normally making 30 or 40 would go to 130, 140 in a day. And you’re like, “I’m making four times as many calls.” You’re going to get-

Brent Daniels:
I always say track it by the time for sure and build up your endurance. If it’s your first time, start with 15 minutes of cold. Build to 30. Build to an hour. You don’t have to go four hours. Because one of the problems that I’ve seen from coaching all around the country, some people go out and they go crazy. They go three hours and then they’re like, “Oh, my gosh, that was so much,” and never do it again.

Luke Rotvold:
Because they don’t have anything that they’re doing when they’re calling. You have to have something to do when you’re calling. So all of our callers, highly recommend everything. Okay. Pick something, whether it’s… One in our office watches movies. He watches movies when he calls. That dude, I don’t know if there’s a movie in this world that he’s never seen. No joke. It’s ridiculous. I play video games. I play [crosstalk 00:34:49].

Brent Daniels:
People watch sports, people read, people draw.

Luke Rotvold:
Yeah, exactly. Draw. Yeah. We had a lady in our office that she just loved to draw and doodle, and she would literally… She would come in with 300 color pencils, markers, crayons, water paint, finger painting. It was ridiculous. She would just go to town and she would just call. So you have to have something. You got to find something or otherwise you will, you’ll drive yourself crazy.

Jake Landis:
I will say, you have to get good on the phones first before you start multi-tasking.

Luke Rotvold:
For sure.

Jake Landis:
Because, otherwise… Like Luke-

Luke Rotvold:
[crosstalk 00:35:24] your calls.

Jake Landis:
Luke could make calls in his sleep.

Brent Daniels:
Yeah. It’s-

Jake Landis:
But in the beginning… yeah.

Brent Daniels:
It’s unconscious at this point. You’ve got it, but you actively listen unbelievably. The whole time, you’re, “Uh-huh (affirmative). Sure. Oh, wow. Yeah. Right. Yeah.”

Luke Rotvold:
Absolutely. Yeah. That makes sense. Yeah.

Brent Daniels:
Does that makes sense? Yeah. For real. And that’s critical. I’m telling you, the difference between people that are struggling making calls and the people that are just absolutely killing it is your tone of voice and your ability to actively listen.

Luke Rotvold:
Exactly. Never [crosstalk 00:35:53].

Brent Daniels:
You put those two together. You have fun with it. You get to the point where you can throw in some entertainment, some distraction, and you can do it for hours.

Luke Rotvold:
Hours, hours. Absolutely.

Brent Daniels:
I don’t know anybody that’s called more than you. I don’t know anybody. Maybe me. Maybe me.

Luke Rotvold:
Yeah, that’s true.

Brent Daniels:
I called… I started a lot earlier than you. But-

Luke Rotvold:
Yeah, that’s true. For sure.

Brent Daniels:
Incredible. Well, guys, thank you so much.

Luke Rotvold:
Absolutely.

Brent Daniels:
Everybody out there, listen. The Viking Boys on YouTube. What is your Instagram? So that people can find you and send you a DM.

Luke Rotvold:
Just Luke_ and then ro is my first two initials of my last name and then underscore.

Brent Daniels:
Okay. We’ll put it in the show notes.

Jake Landis:
And jake_landis22.

Brent Daniels:
Awesome. Awesome, guys. Thank you for being here, Jake, Luke.

Jake Landis:
[crosstalk 00:36:32].

Luke Rotvold:
[crosstalk 00:36:33].

Brent Daniels:
Absolutely incredible. And if you are out there and interested in joining the most proactive group in real estate, it is the TTP family. This is the TTP program. Go to wholesalinginc.com/ttp. That’s wholesalinginc.com/ttp. Check it out. Scroll down, check out the testimonials, check out what it’s all about, and if it feels good in your gut, sign up for a call. It’ll either be with me or my right-hand guy. We look forward to that. And as I close out this podcast, as a close out every podcast, I encourage you to talk to people. ‘Till next time. See ya.

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