Mark Fisher has been part of the tribe for about a year. He’s completed five deals and today we’re going to dive deep into one of them. If you follow the steps that Mark shares in this episode, you will be able to replicate his process and make big sales.
IN THIS EPISODE YOU’LL LEARN:
- How a good Wholesaling business provides stable and reliable family income
- Why finding your mentor early on can save you countless time and effort
- Why knowing what you want can help clarify your direction
Don’t Be a Broke Trailblazer: Find Your Mentor
There are already hundreds of incredible Wholesalers out there who have figured out effective strategies and processes for finding property, business communication, and closing sales, so there’s no reason for you to figure it all out again.
The first thing you should do if you know you want to start a Wholesaling business is find your mentor – really, finding a mentor is the best first step in any meaningful journey towards mastery or self-improvement.
Listen to podcasts, watch YouTube videos, and reach out to other people in the industry. This is a community of people that thrives on networking and you will find someone willing to help.
The Power of a Family Mindset: Accountability
For Mark, Wholesaling is a way for him to achieve greater financial and personal freedom so he can spend more time with his wife and six children. As a family, they look ahead and set vacation goals for when he meets certain business milestones.
It gives everyone something to look forward to, but it also gives Mark six little accountability partners at home.
Mark’s Wholesaling Process & Big Deal
Mark’s big deal started when a property owner called the number on one of Mark’s “I Buy Houses” bandit signs.
- Mark posts, at a minimum, 100 signs per week.
- Mark is able to track which sign a caller saw because he uses different numbers for each marketing channel. He gets those numbers through a service like Call Fire or Call Rail.
- Those numbers go straight to a voicemail. Mark’s assistant listens to the voicemail, adds it to a database, and texts Mark whether it is a cold, warm, or hot lead.
After Mark receives a text about a lead, he calls them personally.
- He calls back every single lead that contacts him, but he will stop everything and prioritize a hot lead.
- If it’s a warm lead, he tries to call them back within 30 minutes.
- If it’s a cold lead, he calls them back when he’s free. Sometimes these cold leads are people who called and didn’t even leave a message, but they’re still worth calling back. Mark has still made deals on these cold leads.
When Mark called this hot lead back, he could hear in their voice that they were very motivated. The lead was waiting for a call back and they were extremely forthcoming with information about their own tax problems.
- The property was out of state, which was new, but the deal was too good not to pursue.
- Mark pulled up the lowest sale values in the neighborhood for the property in question. The lowest sale was above $79k and it sold for close to $100k.
- His assistant then went to find cash buyers. She did this by going to Craigslist and searching for flippers in that neighborhood. They determined they could move the home for $75k to $80k.
Although the seller was motivated, it was not a quick process. The situation got more complex over the next two months – the seller’s family was living at the property, not paying rent, and destroying it – and they went back and forth a lot. Finally, he met Mark for coffee.
- The seller wanted more money than Mark’s initial offer ($60k), but he didn’t have time to give Mark 60 days to complete the sale. They compromised at $65k with 30 days to make the sale.
- As Mark came towards the end of the 30 days, he still needed a buyer. It was a good deal and he was willing to close on the property with his own check, but he still wanted to turn it around quickly. He buckled down and spent hours calling every possible cash buyer.
- He found a buyer who wasn’t interested in being part of a Wholesaling deal, but was interested in the property. He purchased the property from the seller for $65k and sold it to a buyer the next day for $100k.
- Digital phone numbers:
- Finding cash buyers:
- Customer Relationship Management:
- The Magic Of Thinking Big by David Schwartz
- Cash Flow Quadrant by Robert Kiyosaki
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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Cody Hofhine: Welcome to another episode here on Wholesaling Inc. This is Cody Hofhine and I’m excited to deliver yet another awesome rhino that’s going to be on today, that’s going to be telling us his success story, and deep-dive a deal so that each one of you listening can really understand what you can do, write down some notes, and be able to get some gold nuggets from this episode today so that you can implement them today in your own business and find your own success.
I want to take a second and thank each one of you out there listening. We absolutely love our listeners, and I’m excited that you guys keep coming back. We love your reviews; we love everything that you guys are doing so thank you so much. It’s because of your support that we continue to do this.
All right, so today, we have a gentleman by the name of Mark Fisher. He lives in Orange County, California and this guy’s been wholesaling for just about a year now, and he has done about five deals. And we’re going to deep-dive one of those deals today, and this is something really anyone listening to this podcast, if you will listen to exactly step-by-step what he did, you will be able to replicate this and do this exact same thing. Is it easy? No! It does take grit, but he’s going to kind of deep-dive this and help us out and understand how he’s able to make some good money on just a recent deal that he just closed on.
So Mark, my man, how are you?
Mark Fisher: Good, Cody. Awesome to be here. Thanks for having me on.
Cody Hofhine: Absolutely! I sit here and I look at … I was sitting here following you, we’re friends on Facebook and, man, I’m jealous! Here I am in Utah, and our family’s favorite thing is going to Disneyland and every post you have is you’re somewhere new in Disneyland. I’m just like, “Man, I need to live in California! I’m in the wrong state!”
Mark Fisher: That’s an annual pass holder, right there. But it’s expensive with all these six kids, let me tell you! That’s why I started wholesaling!
Cody Hofhine: Six kids! You need to be living in Utah! That sounds perfect! Not many people in California have six kids!
Mark Fisher: Well, we had triplets.
Cody Hofhine: Oh! Okay.
Mark Fisher: Oh, dude, we stand out like a sore thumb.
Cody Hofhine: Everybody’s like, “What is this guy doing in California with six kids?” I love it!
Mark Fisher: Even when we travel through Utah, we were in Logan, and they look at us. They’re like, “Six kids?” It’s even a lot for Logan.
Cody Hofhine: Oh, that’s awesome. That’s absolutely awesome.
You get to go out and surround yourself with the beauty of California. You go to Disneyland all the time. What is … Is there anything wrong with your life? There’s got to be something.
Mark Fisher: I’ve got five-year-old triplets, but that ain’t wrong, it’s just hard.
Cody Hofhine: That is tough. That is tough, but I love it.
Well, perfect. Let’s kind of go into this. We’ve got Rhino Nation ready with a pad of paper and pen to learn some gold nuggets from you. Are you ready for that?
Mark Fisher: I’m ready to charge, brother, like a rhino.
Cody Hofhine: Okay! Let’s do it. Let’s kind of give me a background. What got you into wholesaling? Kind of give your background of what you do, I know you have a family business, and then kind of just fill us in of who you are.
Mark Fisher: Well, I’ve always been obsessed with real estate, and I know that wholesaling is not all about real estate, but ever since … I lived in Utah 20 years ago. I moved there, bought a condo, and that’s where it all started. I saved my money as a high schooler and put a down payment on condo up there, and I always knew that I would be in real estate. Since then, I have some units that I bought over the years, bought my houses. I’ve moved, flipped some houses I’ve lived in. Kept some of the houses I’ve lived in as rentals. Got the family heat and air business that has really kind of funneled the income into all of that, but I’ve always been obsessed with real estate.
I don’t know how I found Clayton. I really don’t, but I was on a YouTube … I found Tom on YouTube with Clayton, and I said, “You know what? That guy looks real.” I go, “I’m going to call him. He looks real.” I called him up. And I’m a salesperson by nature, and I’ve sold for years, and sales people are always the easiest people to sale. I just bought right into it and I said, “This is where I’m going.” They didn’t have to work too hard on me, but this is where I’m going. I go, “This is what I want to do, and this is how I’m going to change my life.” Because I knew I wanted to grow my real estate business.
Cody Hofhine: Quick stop right there. There’s something key that you said there that maybe even a couple weeks ago probably wouldn’t have stood out, so I kind of what to point this out to all the listeners as well as retell myself. I just had this conversation, I was actually in San Diego a couple days ago, and we were talking about just the importance of … I know, like you said, it’s not hard to sale a salesman. “Yep, that’s what I want. Let’s do it.” But the whole point was this: you knew what you wanted, you knew where you wanted to go. And the best part about this is that you didn’t just start blazing your own trails. It’s like, “Someone’s out there doing it. Let’s just have them teach me to do it.”
So I always tell all of our listeners, and I … if there’s anything already we can start out as a gold nugget, and that is find your mentor. Find whoever that is; listen to podcasts, go to the YouTube channel. That’s exactly what Mark did. He just started getting on there and he’s like, “Man, this guy resonates with me; he connects with me.” He gets on there, he doesn’t care what it is. It’s like, “Yep, sold, done. You’re taking me where I’m going to go, but I know where I want to go and if I don’t get the right person to get me there, it’s going to be pretty dang hard.”
So I love that you just took massive action right from the get-go, because that’s the key point of why you’re successful early on in the game.
Mark Fisher: Well, having a mentor is it. I mean, I know it sounds … it almost sounds salesy, I think, but it’s just true. Having Tom there, doing what I was doing, just coaching me along. I quote him all the time, now, in everything that I do.
Cody Hofhine: [crosstalk 00:06:54] and everything.
Mark Fisher: I do! I do. And I … “imperfect action,” you know, “progress, not perfection.” I mean, I’m quoting this last night with another mentor in my air conditioning business that I’m having dinner with. I mean, I’m using him and he got me to that step and he showed me how to do it. And having a mentor was key.
Cody Hofhine: I love … And that’s the thing. I’m not saying that this is just “we’re the mentor,” I’m saying, just find a mentor. It can be anyone, but find someone that resonates with you. That’s the whole point of why I don’t want this to ever sound salesy. Find your mentor, who is it that you connect with, and go with them. That is your key point. I love it.
Mark Fisher: And I will say, though, just another gold nugget is knowing what you want, to deciding what you want, knowing where you’re going because when I met Tom it was a matter of taking my goals, not creating goals. It was a matter of saying my goal is 40k a month in wholesaling. That was just the change. And so that’s what I then looked at everyday once I knew that this was the path I was going.
Cody Hofhine: I love this. Now, before we started this podcast, I want people to understand, also, something I think is really unique with your mindset that I absolutely admire. We talked a little bit about future pacing for the future. You have a vision in your mind, and you said, and I’m going to have you explain it because I’ve already lost the name of that actual location where you want to go with the family out on vacation, but share the whole mindset behind this of … Here’s what I love, though. You’re like, “When I get the x number of deal under my belt, I’ve already told myself I am taking my family to …” and you’re going to share us, but then also, what this does for you. I love this, and share the whole thing with the kids coming in and all that fun stuff. I really want our listeners to understand your mindset. You’re already think of the future of, “When this happens, this is going to happen.”
Mark Fisher: Well, it kind of spurred from when I signed up with Tom I didn’t tell my wife.
Cody Hofhine: Now, guys, we don’t suggest this, so just so you know.
Mark Fisher: You know the … totally wrong, right? But I went in a few weeks later and said, “Hey, here’s the deal I closed and this is what I had to pay to do it. And I signed up.”
Cody Hofhine: Now, how was that night? Was it just fine, or was she going, “What the crap?”
Mark Fisher: Nights, plural, okay? Now, it’s okay. Now that I’m on deal number five and we’ve made some money on it, and it’s actually providing a pool for us and it’s doing the things that we wanted it to do, it’s okay. But, oh man, it was rough. But I told her, I go, “Look, this is where we’re going and we …” I go, “Let’s plan a family trip to Turks and Caicos,” and that’s in the Caribbean, for those that don’t know. And those that have kids, look up the Sandals resort in Turks and Caicos, and it’s an amazing place for the kids. Ton of fun.
But it’s a family event. I said, “This is where we’re going.” I go, “When we hit deal number 10, we’re booking the trip.” So the kids, they know. We have the bell amount mounted, the bell that Tom sent me, we have it mounted at the house. Every time we get a deal on a contract, it’s a ring; and we close it, we’re ringing it for a thousand dollars for the amount of the assignment fee on it.
So the kids … I come home, and the kids look at me. “Daddy, did you close the deal? Daddy, did we start deal number five? Did we close deal number five?” And they’re asking. I got accountability at home. They’re counting.
Cody Hofhine: I absolutely love this because every one of us are searching for an accountability partner, and I love that you made this internal. Every day, your kids are coming home and they’re talking to you, “Dad, come on. Step up your game, dude. You’ve been on five for three weeks. Can we get deal number six, brother?”
Mark Fisher: Right! And that’s the thing. It’s like, “Do I tell them I’ve got to make at least 15 phone calls a day?” You know what I mean? “Or what it is?” They’re going to start asking me, you know?
Cody Hofhine: That’s so cool. So the whole point I want to point out, as well, you’re just a good guy all the way around. You’re not just so focused that it’s just like money-driven or business-driven, but ultimately you have a well-balance. You’ve got family in mind. You’ve got your kids. You’re involving your kids. I love seeing all this because that’s truly to see the whole who Mark Fisher is, that’s what’s impressive. It’s not just businessman Mark Fisher, but businessman Mark Fisher also cares about his wife, even though he may not have told her about the program up front. And that also deeply cares about his kids, and that’s why he chose to have six, for heaven sakes! I love it.
Mark Fisher: Woohoo! Love it.
In all defense, she was supposed to be part of that conversation and she wasn’t. I just said, “This was what we’re doing.” I just made the call and had to tell her later.
Cody Hofhine: Let’s deep-dive. Let’s help our listeners now understand the recent deal that you’ve done that we talked about, and I’m still … I’m smiling from ear to ear just thinking about how it all went down and how it came into place. But let’s talk right from the beginning, what is it? What was your marketing channel? What were you doing? What did the marketing channel say? Let’s really deep-dive this and help listeners replicate Mr. Mark Fisher.
Mark Fisher: Okay, well, this particular deal came from a bandit sign.
Cody Hofhine: And what is a bandit sign? Just so people understand.
Mark Fisher: A bandit sign is a … it’s those yellow signs that you see posted that say, “I buy houses,” “We buy houses,” whatever it is. It’s the sign that gets posted out on the roads and the streets, on the telephone poles. It has a phone number.
Cody Hofhine: One of those guys? Just kidding. Just kidding.
Mark Fisher: Yeah.
Cody Hofhine: Keep going, keep going.
Mark Fisher: But it has a phone number that I track, so I know every single one that comes from that. Every single lead that comes from that sign, I know because that’s got a special phone number for it.
Cody Hofhine: Tell me this! Let’s deep-dive that, even. You’re not putting your cell phone on this “we buy homes” and then a number. It’s not your cell phone, so what is it that you do? Where do you get these numbers?
Mark Fisher: I use CallFire …
Cody Hofhine: Okay.
Mark Fisher: … which is a service. I have, I don’t know, 12 numbers on there for all my … every marketing avenue that I have has a different phone number, and so I know —
Cody Hofhine: So you can purchase these numbers through CallFire, and that’s what you’re putting on your marketings?
Mark Fisher: [crosstalk 00:12:47]. I think [inaudible 00:12:47] moved over to CallRail now, but when they started I was using CallFire and I’ve just stayed there for now.
Cody Hofhine: Awesome.
So you buy these numbers, you put them on your marketing piece. And when it calls, is it coming directly to you to answer live? Is it going to voicemail? [crosstalk 00:13:00]?
Mark Fisher: It goes straight to a voicemail.
Cody Hofhine: Okay.
Mark Fisher: And then my assistant picks up that voicemail, she puts it into the database. I get a text message, whether it’s a cold, warm, or hot lead.
Cody Hofhine: Okay.
Mark Fisher: And then I make that phone call based on what I get.
Cody Hofhine: So you are the one that’s actually calling back, not the assistant? You’re the one calling back, whether it’s cold, medium, hot, whatever?
Mark Fisher: I’m the one. Yep. Yes. That’s it, yep.
Cody Hofhine: Okay. How do you prioritize that? Do you call every one of your leads back, or are you calling just the hot leads back?
Mark Fisher: I call … No, I call every single one, but if it’s hot, I’m dropping what I’m doing and I’m making the phone call. Right?
Cody Hofhine: Okay.
Mark Fisher: And if it’s warm, I’m trying to do that within 30 minutes. And if it’s cold, it’s when I get to it.
Now, cold means there’s no message left, right? So it may or may not even be a lead. It just may be somebody that didn’t leave a message. But I’ve gotten deals from cold calls, from somebody who didn’t leave a message.
Cody Hofhine: 100% agree.
Mark Fisher: I worked deals from that.
Cody Hofhine: 100% agree.
Mark Fisher: So you don’t discount them.
Cody Hofhine: I love what we always say is, “No lead left behind.”
Mark Fisher: That’s right.
Cody Hofhine: Yes, you’ve got to prioritize your hot leads to your cold leads. You’ve got to prioritize, but ultimately every lead needs to get a phone call back because, just like you said, there are people that don’t leave a message, and you call and it ends up being a smoking hot deal.
Mark Fisher: That’s it! No, it’s absolutely true.
Cody Hofhine: Okay, so you’re message on a bandit sign says “we buy homes”.
Mark Fisher: It says, “I buy houses. [crosstalk 00:14:18] cash.”
Cody Hofhine: “I buy houses.” Okay. And —
Mark Fisher: I don’t know that it really matters so much what it says, but I like the personal touch of “I”.
Cody Hofhine: I do, too. I like that. I think that’s key. So, “I buy houses. Cash.”
Mark Fisher: Yep. And I will tell you that I’m just going to throw some advice, and it’s probably on another call or it’s somewhere out there because Tom told me this. He goes, “If you’re going to do it, you dominate it.” He goes, “You just don’t put up 10 bandit signs and see what happens.” I ordered 500 bandit signs, and 500 bandit signs went out. A minimum 100 a week go out …
Cody Hofhine: Okay.
Mark Fisher: … and so I plaster this area. I plaster that area.
Cody Hofhine: And you’re doing 500 at a piece. Don’t go small, don’t go tan. You’re going to five-hundo.
Mark Fisher: Go big or go home, right?
Cody Hofhine: I love it.
Mark Fisher: I have my sign-poster doing a minimum of a hundred a week.
Cody Hofhine: Okay. A hundred a week, and is that done … does it matter what day you put those out?
Mark Fisher: I do them on Saturday. I haven’t started taking them down … I’m sorry, I do them Friday or Friday night, so that they’re up Saturday, Sunday and I’m not taking them down at this point. So they’ll end up usually staying a little bit longer.
Cody Hofhine: Okay.
Mark Fisher: But, yeah, they go out … I put them out on the …
Cody Hofhine: On the weekends.
Mark Fisher: On the weekends, yeah.
Cody Hofhine: Okay.
You get this hundred signs out, and you get a phone call. It goes to a voicemail. Now, was this particular lead a hot lead that was leaving a voicemail? Or was this a cold lead, or a medium lead? What was it?
Mark Fisher: Yes, and I’ll answer your question that you asked, as well, is how do you determine the different temperature of the leads.
Cody Hofhine: Okay.
Mark Fisher: Yeah, this one came in, I’m pretty sure it came in as a hot lead because we started talking right away. But how I have my assistant determine what’s hot is I leave on my voicemail is, “Hey, you’ve reached Mark. Sorry I missed your call. Go ahead and leave me your number, your email address, your name, and the address of the property.” Four things I ask for, and if they leave me all four things, they’re hot. They’re ready to pop. I mean, you just know because they’re listening to you and they’re giving you the information, you know that they are interested in talking to you.
Cody Hofhine: Perfect. Perfect.
Mark Fisher: [crosstalk 00:16:26] or warm.
Cody Hofhine: Whether that’s a good deal or not for you is irregardless at this point. You just that, at least, “I know that this person really wants to sell because they left all four of those criteria.”
Mark Fisher: Yep, you want to talk to me.
Cody Hofhine: Okay.
Mark Fisher: Exactly.
Cody Hofhine: Perfect. So you get this voicemail, he or she leaves all this info, and then how long before you got back to this from the time they called?
Mark Fisher: I don’t know because it’s actually been several months, because this deal took some time to work out.
Cody Hofhine: Oh, okay. Okay.
Mark Fisher: I know I did a good job on following up. I really make that a priority, is to get back with them because that’s key. You’ve got to get back to these people, because if not, at least here in southern California, this guy could’ve talked to 1500 other people. I mean, there’s just so many. There’s wholesalers, cash-buyers, I mean, there is so much happening here that … I mean, I’m a small fish in a big pond here, and it’s … He could talk to anybody, so I know that I’ve got to get back to these people because if I’m not getting back to them, somebody else will.
Cody Hofhine: So true. I love what you said. I want to point out to all the listeners is how fast you’ve got to get back to these people. Think about your own life. If, let’s say you’re working a 9:00 to 5:00, you’re working 40 hours a week and all you have is during your lunch break to accomplish some certain task that day, and it’s maybe you need tires for your car. You call the first shop, they don’t answer. Are you going to be satisfied? No. I’ve got 20 minutes before I get back to work, so I’m going to call the next shop. And if they don’t answer, guess what? I’m going to call the next shop. And really, the person that answers the phone, or the person that is able to get back them the quickest, nine times out of 10 is also the person that’s going to get the business. So it’s so key that you get back to these leads super fast because a lot of these people, if you’re not answering and you’re not getting back quick, they’re also not satisfied. They are moving on to the next person.
Mark Fisher: It’s hard in a society where we have everything at our fingertips, this instant gratification. I mean, people just want it now. They don’t want to wait.
Cody Hofhine: That’s true.
Mark Fisher: And so if they’re looking for an answer, especially if they’ve got a problem, and we’re looking for people to help them solve their problems, we need to get back to them.
Cody Hofhine: Love it.
So you get back to them. Let’s kind of hear the just of it. If you can kind of go back. I know this has taken time to just recently close, but it was over a time that this has taken place. Do you remember the just of the conversation that let you know, “Yeah, they’re ready to sell and they’re a motivated seller?”
Mark Fisher: Well, and that’s the thing. Tom always said … Tom’ll say, he goes, “Hey, I can tell, usually within 30 seconds, whether somebody’s motivated, and you’ll learn that.” And he’s right about that because when I remember talking to this guy on the phone, his tone in the voice, the way that he spoke, I said, “That’s a motivated seller.” And I just picked up on it immediately. And —
Cody Hofhine: Tell me … So tell me what is it like? What is the … Give us a little bit of meat on that. What does it kind of sound like? Does it sound like instant, “Hey, I’m ready to sell. Come over, get this going,” or what does it sound like?
Mark Fisher: His thing was … Okay, so I’m in southern California, and he called on a … he had a property that he needed to sell in Arizona, which was Sedona, Arizona.
Cody Hofhine: Okay.
Mark Fisher: That’s a mountain town but it’s a big, popular resort place that people go to. So he called up and he goes, “Hey, Mark.” He goes, “Thank you for calling me back.” When people say that, you know that they were waiting for the call.
Cody Hofhine: I love that.
Mark Fisher: He goes, “Thank you for calling me back.” But he didn’t have a chipper voice, right? You could just tell he was kind of … he was bumming out. He goes, “Thanks for calling me back.” He goes, “Do you buy properties in Sedona?” I said, “Well …” He goes, “Arizona.” I said, “Well, typically not,” I go, “but, if everything turns out right,” I go, “maybe we would. Maybe I would do that for you.” I go, “You want to let me know some of this information?”
So he gave me the address. I said, “Well, tell me why you’re selling this.” He goes, “Well, behind on taxes. I’ve got some stuff I’ve got to pay here. I don’t want to lose this house here.” He goes, “And I don’t owe anything on that one, there.”
I mean, the thing about it was, I almost didn’t even have to ask the questions in the script. For those that know the script in the —
Cody Hofhine: [crosstalk 00:20:37]. Just let you know up front.
Mark Fisher: Yeah. He kind of gave that information, and that’s the reality of a real motivated seller, too, is they’re going to give this information without hesitation, without reservation, and sometimes without asking.
Cody Hofhine: So true.
This is unique, though, because this is also out of state. This is something you don’t know. You’ve never comped, my guess is you’ve never put a comparable together for a home in Sedona, Arizona of all places. This is probably all new to you. Did this excite you? Did it make you nervous? Is it like, “Oh, this is going to be easy,” or was, “No, this is going to take some grit, but I’m ready for it?”
Mark Fisher: It was exciting. I was a little bit nervous about it, but I was also going to be careful with it. But I told this to my wife, just about as the deal started to close up. I said, “You know what? The thing about this deal is had I not gone through Tom’s training, had I not been through the Investor Grit training that you guys do,” I go, “I wouldn’t have gone in with the confidence knowing that I could figure it out over there just as well as I could figure it out here.”
Cody Hofhine: I love that.
Mark Fisher: And so I used the same process. I mean, you just plug and play the process.
Cody Hofhine: Cool. So quickly, how did you end up … not knowing anything, did you just start calling people to find this out? Did you just start getting on Zillow, Redfin, what was your source?
Mark Fisher: No. I did the comp like it’s taught in the Tribe. I did the comps. Pulled up the lowest sale values in the neighborhood, and in that neighborhood the lowest sale was 79,000. There was some stuff that had sold for around 90 and 100 in that neighborhood. I said, “Okay, sounds good to me.” And then, the guy said … I asked him if he wanted to meet, right? And he says, “No, no. Not ready to meet.” Which is like, “Okay, well maybe he’s not as motivated as I thought,” right?
He goes … So I started prying on the situation a little bit more. I said, “You know, we can meet at Starbucks if you don’t want to meet at your house. We can meet half way.” He only lived about 15 minutes from me. I told him, “Let’s do that,” and he resisted that. He goes … I pressed a little bit more about the situation. He was behind on the taxes; he had family renting the home, and they weren’t paying. They were destroying the place. He didn’t owe anything on it. He goes, “This is where I thought I would retire and live there.” He goes, “And it’s just all coming apart, and I don’t want to lose my house here in California.” I said, “Okay, we’ve got it.”
I said, “Well, if you don’t want to meet,” I go, “best thing I can …” He goes, “No, no. I don’t want to meet. I won’t meet.” I go, “Well, best thing I can do is kind of get …” We went over some numbers on the phone. He says, “No, I don’t think that’s going to work.” I said, “Okay, great.” Because I was at … I think I told him it was 60. And I sent him an offer for 60 in the mail, right?
Cody Hofhine: Okay.
Mark Fisher: Because he wouldn’t meet at the time. So I kind of double-guessed myself on recognizing the motivated seller. But he calls back and he says, “Look, if I get it vacant for you, and you don’t have to deal with the tenants, can you do a little bit more?” I said, “Well, let’s talk about it. Go ahead and get it, and we’ll talk.”
Anyway, through this process over maybe a two-month period is when we finally got to the point of negotiation where he did meet me at Starbucks.
Cody Hofhine: Okay.
And now at this point … and he’d done that part? There was now no tenants in place?
Mark Fisher: Yeah, he went out, got his family out. Got it cleaned up a little bit. He removed a bunch of stuff from the yard like I asked him to. So he’s like, “Well, now that we’ve done that,” he’s like, “can we do 70, 75?” I’m like, “You know, I’m at 60, man.” I go, “I can maybe do 70 on this if you give me 60 days.” Because I wanted some time to move this property. I didn’t know the area; didn’t have too many cash buyers.
Cody Hofhine: Uh-huh (affirmative).
Mark Fisher: But previously, I had asked my assistant, before I ever did this, I go, “Find me cash buyers that will buy in this area of Arizona. I know they’re in Phoenix, and I know they’re in Flagstaff, but I don’t know if they’re in this mountain city.” So I had her reach out and she put them all into Highrise, put a bunch of lists, and I called these cash-buyers before I did this deal.
Cody Hofhine: How did she find these, by the way? I think this is something critical.
Mark Fisher: Craigslist. Craigslist.
Cody Hofhine: Okay, so just Craigslist, and you’re looking for specific properties maybe for rent, or something, in Sedona? Or what does that look like?
Mark Fisher: Oh, okay, great. You want to dive into that. When I originally trained this assistant, one of the ways that I found, and I filtered my assistant, was I said, “Find me cash-buyers.” Because one of the things I wanted to put her in charge of was finding my cash-buyers and so I go, “Go on to Craigslist. Find people that are cash-buyers. Text them, email them, find out if they are really cash-buyers or what they’re deal is.” And then we put them into Highrise.
So she goes onto Craigslist. I didn’t have her go into the landlord section, like the “for rent”. I had her look for flippers. So she reached out to them, flippers in Phoenix, flippers in Flagstaff, and loaded me up with some names in the database.
Cody Hofhine: Love it. And Highrise, by the way, for all those listening, Highrise HQ is just a CRM, a place where you can put all of your … it’s customer relationship management. It’s where you can put all your contacts for good followup and keeping people’s info. So it’s called Highrise HQ, when he says “Highrise.”
Mark Fisher: There we go.
Cody Hofhine: Perfect. So she did that.
Mark Fisher: So I reached out to those … I reached out to those cash-buyers after she did that.
Cody Hofhine: Okay.
Mark Fisher: And said, “Hey, do guys buy …” Confirmed that they buy in Sedona. I said, “What kind of margins are you looking for in this area?” Kind of got a good feel for what it was. And then I determined that I could probably move this home for anywhere between 75 and 85, so I picked my 80 number and I went with it.
Cody Hofhine: Cool. So now, is this something that, now that you know some of your numbers, is it something that you actually closed on this property? Or what does that look like?
Mark Fisher: Okay, so we negotiated at … I told him we needed 60 days, and this is kind of key because I made five grand in five seconds. And I told him, I go, “Look, if I don’t have 60 days, and I’ve got to close in 30 days, I can do 65 and that’s the best I can do.” And he said, “Fine, go ahead and do it.”
Cody Hofhine: Because he wanted to go the 30-day route, it sounded like.
Mark Fisher: And I closed in 26 days for him. I gave him a little bonus, you know.
Cody Hofhine: Okay, awesome. But for doing that, you were able to also negotiate 5,000 off the price.
Mark Fisher: That’s right.
Cody Hofhine: That’s awesome. That’s awesome.
Mark Fisher: So got it for 65 and … I put my assistant in charge of it because I have a lot going on at the time, so I put my assistant in charge of it. “Okay, reach out to these cash-buyers, put the fire together like you normally do. Blast them out and let’s just see who’s interested.” And I had her reach out to some realtors to see if they had any cash-buyers on their list there in the city of Sedona.
Didn’t get … I mean, we got a little bit of response. I had one realtor that had some investors looking at it, but all those leads kind of fizzled out. So we got to the point where I knew that this was such a good deal that I said, “Okay, I’m going to stop trying to wholesale this because I’m really on a time limit with this.” And I had the ability to just write the check for the 66,000 to close it up.
Cody Hofhine: Okay. So you purchased this home, closed on it.
Mark Fisher: I purchased it, I think, on a Thursday. Maybe even … I think it was a Thursday that we ended up closing.
Now, previously that week, when I … Okay, once I’d made that decision to go ahead and close on it, I think it was that Monday that I said, “Okay, I’ve got to move this deal. I’m going to close on it. Maybe I can still wholesale it,” but I got to the point where I needed to hit Rhino Mode on this deal.
Cody Hofhine: I love this. This is turning into what we call a whole-tell deal, where it’s kind of like you use the strategy of the wholesale, meaning you find that deeply discounted property, put it under contract, and now it’s going to be like, “Okay, I’m going to buy this and I’m actually going to sell it the retail market.”
Mark Fisher: Yeah. I actually had it all set up in escrow to double close.
Cody Hofhine: Uh-huh (affirmative).
Mark Fisher: And so if that were to have happened, that could’ve happened.
Cody Hofhine: Okay.
Mark Fisher: But yeah, I ended up going to retail this thing. I figured that it was good enough. I had had some feedback that people thought this thing was worth closer to a hundred, so I just said, “All right, here we go. I’m going to do it.” And I did get a little bit nervous because, again, you always don’t know what you don’t know. It’s a totally foreign market. So I was a little nervous, but I went through with grit, with guts, and in Rhino Mode, so we’re going to make it happen.
Cody Hofhine: Love it.
Mark Fisher: I think it was that Monday, maybe even a little bit earlier that week, I told my assistants, I go, “You get me every real estate agent’s phone number in Sedona.” Okay? And then I go, “I’m going to jump on Craigslist.” I jumped on Craigslist myself and I just started dialing. I hit the phone for hours.
Cody Hofhine: This is so awesome.
Mark Fisher: Brent Daniels is a Tribe Member, he was on that phone call. I called his office; I called his cell phone. And I just hit everybody that I could possibly think of. I just boom, boom, boom, boom, boom. Hit the phones, hit the phones, hit the phones. I said, “I’m selling this deal and I’ve got to have my buyer.”
Because even if I did have to close on this deal, I wanted to have it moved quick. I didn’t want to sit on it for a month.
Cody Hofhine: Yep.
Mark Fisher: And so, I pounded. I spent hours on the phone. And I got some things done in the process. I had people going to look at it. The lockbox that was on there was broke, and I had to call somebody and send them out there to go fix it. You know, I’m having costs that I’m paying for this thing.
But in the end, I said, “Okay,” I had this thought, I said, “Let me call back my original cash-buyers that told me … that I had ever before signing this deal, that told me they would buy in this area. Call them back and see why didn’t they like these deals,” because they had kind of texted me, “No, not interested,” and this and that. So I got on the phone. I kind of remembered some things that Tom had said. You know, “Don’t hold their feet to the fire. Don’t let them go.” So I said, “I’m going to call these guys back.”
So I call back these original buyers and I get one of them, and she says, “You know, we don’t really like the wholesale thing. It gets kind of complicated, but …” I go, “Well, I’m going to be closing on this thing on Thursday. You want to buy it Friday?” And she says, “Yeah, I think we can do that.” So I got her over the information again, told her … I think in my flyer I was asking 105, I was just really trying to push as much as I could get for it.
Cody Hofhine: Sure. Go for no.
Mark Fisher: I go, “You close on this in a week, you can have it for 100.” I go, “But you’ve got to close in a week.” And she says, “You know what? We can do that.”
Cody Hofhine: I love this. So, I want to point out some key things here. That is so killer. First and foremost, you’re not afraid to pick up the phone and start dialing. And you didn’t just dial one, two, three. You said “hours.” You talked to everyone. You even talked to people that were also you’re connected to just for being part of the Tribe. You called everyone and anyone. You still didn’t get the answer, and then you think, “Man, I’m going to call these people back that said, ‘I’m going to buy this.'”
I want you guys to listen, Rhino Nation, listen to the grit here. Listen to how he did not give up. He didn’t stop at no, and the best part was he called these individuals that had originally said no. But if you just stop at no, you’ll never understand the why. And the why is so crucial. He called everyone of these people back, says, “Why no? What is it that you don’t like about it?” “Well, I don’t think we can do 105,000.” “Well, if you can close in a week, I will do it for 100,000.” And then, bam, “I think we can do it.”
But had he not called this lady back, there’s to buy. There’s no purchase. There’s nothing going on. He might be sitting on this property today because he didn’t stop at no. He wanted to find out why no to see if there was a deal out there. So, my friend, I’m telling you, you’re sharing these gold nuggets fast, fast, fast. And I want people to understand there’s so much to this. It’s not just pick up the phone, it’s not just send it out to people and get a no, but why no. And that’s what you did; you took it a step further. Why no, to ultimately you got a person that bought it for … Did you say 100,000?
Mark Fisher: I got 100 grand.
Cody Hofhine: Hold on! Hold on! You know it’s coming on! Hold on!
The victory bell. So, 100 grand.
Mark Fisher: My kids rang that bell 35 times.
Cody Hofhine: They’re like, “Maybe we’re going to Turks and Caicos a lot sooner?”
Mark Fisher: Got to pay off this pool we’re putting in.
You know what, it’s such a blessing. Let me just tell you, wholesaling has been such a blessing. I know that it’s kind … I mean, I’ll finish the story here in a second. But it’s been such a blessing. I told my wife the other day, “We would not be finishing our pool right now if it were not for wholesaling.” I mean, we were in that position. I’ve got so many deals and things going that we got to the point where we’re a little bit maxed for the budget that we have for the pool, and it wouldn’t be finishing if it [inaudible 00:33:28]. And she goes, “I know.” She’s, “I got your back 100%.”
Which is huge, because in the beginning we talked about how she was upset about this when I did it a year ago.
Cody Hofhine: And it was probably just the method of how she found out.
Mark Fisher: Oh, yeah. It’s all my fault. I own the whole thing. I destroyed the delivery.
Cody Hofhine: I love it. I love it.
What is this? $34,000 you were able to make on a property you knew nothing about. You knew nothing about the area. You knew nothing about cash-buyers. You knew nothing about what the repair value is. You knew nothing, but it did not stop you. All you did is just put the same principals that has made you successful in Orange County, California. Do those same principals just probably at an accelerated pace —
Mark Fisher: Right, exactly.
Cody Hofhine: So that you could move this property and ultimately make $34,000, which, my man, hats off to you.
Mark Fisher: Thank you. Funny enough, the biggest deal yet, out of state. [crosstalk 00:34:28].
Cody Hofhine: The biggest deal you’ve done is out of state, you’re saying?
Mark Fisher: Exactly. Exactly.
Cody Hofhine: Man. Phenomenal, phenomenal. Let’s kind of tie this all together, and give a round up right here. If you were to tell people that are at the beginning stages, we’ve got a lot of listeners that are just brand new, even to the concept of what wholesaling is, have not done a deal. Maybe have done one deal. If you can kind of hone in on some key things that, if you were to start all over again, what is it that you would let these individuals do so that they can have hope and know what to do to get their first deal?
Mark Fisher: The thing that I would say about it, is I’m in Orange County. I’m in a competitive market. So if you are in a competitive market, you’ve got to have even more grit. You’ve got to put in the time and the effort, the energy. I mean, there was a time … I’ve only done five deals in a year, so there have been blank spaces in that time. But my wife will say, she’s like, “You just never stop.” She told me to quit. She’s, “I think it’s time for you to quit,” the end of last year. I’ve done three deals since she told me it was time to quit.
You just don’t quit. I saw a quote the other day that said, “The battle between the stream and the mountain, the stream always wins.” And the reason that is, is the persistence. It just doesn’t give up, it just keeps hammering away, hammering away. It’s Rhino Speed. You just go, go, go, and it’s there. But you’ve got to make it happen.
Cody Hofhine: I love it.
Mark Fisher: And then we’re blessed along the way.
Cody Hofhine: I love it. So tell me this, are you much of a reader?
Mark Fisher: All the time. I’m always got something in my ear. I love Audible. I read, read, read, read, read.
Cody Hofhine: So give us a golden goose egg right now. If you could name one book, what would be the book that would help people?
Mark Fisher: Well, there’s two that come to mind. One is ‘The Magic of Thinking Big’. That gets you out of the boxes that we’re in in our society and just in our daily lives. ‘The Magic of Thinking Big’ is just going to … it will expand your mind out a little bit. The other is ‘The Cashflow …’ ‘The Magic of Thinking Big’ was Dr. Schwarz, I think, who did that. And the other is ‘The Cashflow Quadrant’ by Robert Kiyosaki. That was recommended to me by a semi-mentor that I have here in California, huge real estate guy, hard money guy here. When he said, “Read that,” I listened to what that man says, and he said … I was in a seminar that he did, and he said, “Read that book.” He goes, “That’s life changing,” and to me, it was.
Cody Hofhine: That’s fantastic.
Mark Fisher: Yep.
Cody Hofhine: Well, my man, Mark Fisher, I appreciate your story. I love the highs, the lows, the not knowing about it, then the wife also tell you enough’s enough, to, “Hey, now we’re finishing what was just a big hole where our kids are finding worms,” to, “Now it’s a pool.” I love all of this from start to finish. And absolutely appreciate your time for being on the show, first and foremost.
Mark Fisher: Oh, well, I hope it helps somebody and I hope it’s a blessing to everybody that’s listening. And it’s just go, go, go, go, go. Don’t give up.
Cody Hofhine: It is. It’s going to connect with a lot of people. A lot of people are out there like, “What is a good way,” and I love the fact that you spoke about bandit signs because that really is also a cost-effective way, where you can do it for a very affordable price. I love that you shared the dynamic and you just don’t know what’s going to happen. This ended up being a deal that was out of state, so I love it. You never know what’s going to happen, but nothing would have ever happened had he not taken action.
So Mark, my man, thank you so much for joining us today.
Mark Fisher: No, you’re welcome.
Cody Hofhine: Okay, Rhino Nation, you’ve heard another great episode from a rock star rhino, and how to break it down. I know there’s some things that you can implement. The power of this podcast is not just listening to it, but write down a gold nugget or two that you’ve learned that maybe you’re not doing today, and take massive action. Take that imperfect action. Remember, it’s progress not perfection. Don’t wait for a perfect plan. Don’t get caught up in that analysis paralysis. Just take massive action. You might make a mistake. You might look like a fool, but I can tell you, it’s those mistakes, it’s those moments of feeling like a fool and a failure that make you stronger, and make you better at what you’re doing.
And ultimately, it’s going to lead you to your first and many wholesale deals. If you guys want to learn more gold nuggets like this, get over to wholesalinginc.com, that’s wholesaling I N C dot com, and you can subscribe to our email list. And we email out gold nuggets all the time so that you can implement them, and put them into your practice so that you can wholesale deals left and right. And also, go in there and you can see the testimonials of a lot of people that are doing this nationwide. And what that will do is just help you feel confident and inspire you and motivate you to take massive action.
So until next time, guys, thank you so much Rhino Nation for listening, and I’ve been super excited and I’ve learned a lot of stuff from Mr. Mark Fisher, myself, so this has been a great episode and we’ll see you guys next time on Wholesaling Inc. Take care.