Posted on: February 22, 2021

Today’s show will feature two products of the Virtual Investing Mastery Program hailing from Las Vegas, Nevada, Bryan and Samantha Mae. They will have a talk with Lauren about all things virtual. Both are enjoying big success from their virtual markets just a few months after finishing the program.

In today’s episode, Bryan and Samantha Mae will talk about their deals done virtually and the challenges encountered along the way. They will also share what they learned from the mastery program and practising through their business. The couple will also share their experience working with a Joint Venture partner and a glimpse into their plans.

Learn how his couple got the deals while working on their business part-time. Get ready to dive in with this couple. Listen and enjoy this episode!

Key Takeaways

  • What made Bryan and Samantha Mae decide to go virtual in Vegas
  • Starting their wholesaling business in October 2019 and learning virtual from Lauren
  • The challenges they had in doing virtual
  • What the pistachio theory is
  • Comping and pulling lists are their game-changers
  • How their first virtual deal with a JV partner go
  • Their goal of getting Five wholesaling deals a month part-time

RESOURCES:

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Episode Transcription

Lauren Hardy:
What’s up rhino tribe. This is Lauren Hardy, and you are listening to the Wholesaling Inc. Podcast. Today, I have Brian and Samantha May from Las Vegas, Nevada, with me today and we are going to talk all things virtual. Brian and Samantha are a part of my Virtual Investing Mastery coaching program and they are having a lot of success with their virtual market. They just got started only a few months ago and they already closed a couple deals. So today we are going to deep dive about those deals and just what it’s like to go virtual versus working in your backyard. Guys, welcome to the program, Brian and Samantha.

Brian:
Hey, Lauren. How are you?

Samantha:
Hello.

Lauren Hardy:
You guys are in Vegas. How is Vegas doing right now with COVID? What does it look like over there?

Brian:
We follow exactly what California does.

Lauren Hardy:
Is the Strip just a dead zone now?

Samantha:
I don’t know. [crosstalk 00:01:46] We don’t go down to the Strip, but I think there’s only certain casinos that are open and-

Lauren Hardy:
Yeah.

Samantha:
I think they actually are open at a certain time.

Brian:
Yeah I think the Wynn is only open Thursday, Friday, Saturday,

Lauren Hardy:
Wow.

Brian:
And then Sunday, the guests have to get out. Yeah.

Lauren Hardy:
Wow. It’s a crazy time and a lot of the big cities are really getting hit and the people that work in the big cities, have, a lot of lost jobs, it’s terrible. You guys are not working Las Vegas, you guys are working a virtual market. Why did you guys decide to go virtual?

Brian:
I think Vegas, we did a little bit in Vegas. I’m still due, but I think virtually that’s where we wanted to start. We just didn’t know the direction until we found you. I just think me personally, I think there’s a little bit more-

Lauren Hardy:
What I like to say is you can get more for your money on effort in other markets.

Brian:
There you go. Correct.

Samantha:
And a lot of Vegas people have the California mentality because a lot of them came from California. So they-

Lauren Hardy:
Oh.

Samantha:
They think that their houses are worth way more than they actually are. It’s kind of a struggle here.

Brian:
That’s what we found yeah.

Lauren Hardy:
There is something about the mentality in every different market. What I’ve noticed in every market I’ve been in the sellers are different. Like there it’s cultural, different attitudes. And one thing about California sellers is they are very aware of their property values and they definitely sometimes think it’s more than it is very common. So the reason I went virtual was the same thing for the same amount of work, same amount of effort I was making in seller calls the same output. I could make more money in another market. So it just made more sense for me too. So when did you guys actually get started with wholesaling? How long ago was that?

Brian:
Oh, well, October of last year we signed up for-

Samantha:
2019.

Brian:
2019, jeez, Robert Kiyosaki dropped about 40 grand in, about 35 to 40 grand and that went nowhere and then just kept going and going and then started doing a little bit of virtual here with The Tribe. And we finally found you doing virtual. That was kind of it,

Lauren Hardy:
When it comes to going virtual, there is a bit of a recipe or a formula and you could either go at it the way I did, which was just on my own and try to figure it out myself. And it took four straight years of trial and error and different things. Or you can just get a coaching program that gives you that recipe and you can finish it in a few days.

Samantha:
Right.

Brian:
Absolutely.

Lauren Hardy:
In a lot of it. I mean that recipe, I don’t know. I guess I would say how important is that recipe? I mean, when you were trying to go it alone, what were some of the challenges that you had, trying to figure out virtual I mean?

Brian:
Well even virtual or even in your backyard, I mean, if you don’t know what you’re doing, I mean, unfortunately I think it’s, you look up so much information and everybody has a different way of teaching and it’s like, well, which way do you go? And then you just kind of sit there and you’re like, Oh, today I’m going to do this, this and this. Which you have no plan to do this, this and this. You just think you’re going to go to this, this and this. So I just think any mentor that you can afford and hire is the best way.
And obviously do your due diligence because not every mentor is equal. That is for sure. I just think being Sam, listening to you and your energy and everything we’re like, “Yeah, I think she might be the one.” I think it’s just because you’re just straight to the point. It’s either a yes or no. It’s not “Well, I don’t know.” It’s like, no, that sucks. It’s like The Pistachio Theory. I’ve never heard of The Pistachio Theory in my life and you mentioned it and I think it’s great. The funny thing is I like pistachio ice cream, so I’m the pistachio person, right. That you’re always talking about. So I’m always laughing about it.

Lauren Hardy:
Yeah.

Brian:
[inaudible 00:06:07] knows what we’re talking about, but they will eventually if they join the program.

Lauren Hardy:
Yeah.

Brian:
So yeah [inaudible 00:06:12]

Lauren Hardy:
It is. I know it is. I do struggle because I have a pretty blunt personality. And so, just things come out of my mouth and I’m equally surprised at it. Sometimes I’m like, “I just said that, oh boy okay.” But I mean The Pistachio Theory. So for anybody who’s listening to this, I came up with this thing on the cuff one day on a coaching call. And I was trying to explain to everyone about the prices that you contract homes. And sometimes people feel like, Oh no, my buyer told me this is way too high, but what I learned after years and years and showing multiple buyers, my deals versus just the same two was that there are all different types of buyers and there could be a buyer that’s looking for homes in that neighborhood for some kind of unique, personal interest of theirs.
And you wouldn’t have found that buyer unless you went out and bid the property to multiple buyers. So I was trying to, and there’s a lot of objectives I had with this story. And it was A: to bid out the home to as many buyers as you could and then also B: is justifying locking up a property at a little higher price than maybe you wanted to get it at because you can maybe take a shot and see if you can find that one pistachio buyer. So the pistachio buyer, I had thought about it. I go okay, you know when you’re at 31 flavors and everybody goes for the same flavors, but there’s pistachio ice cream. And it’s like, who the hell goes for the pistachio ice cream? I don’t go ever and get the scoop of pistachio.
I don’t know anyone who likes pistachio ice cream. Why do they even have it there? But there’s always one scoop taken out. So there was one guy that day that was into pistachio and apparently it’s Brian. And it’s because he has some unique interest connection with nut flavored ice cream because it reminds him of his grandpa, and his grandpa and him would always have pistachio ice cream. Right? So that’s the same things with bidding out your properties to buyers. So maybe you wanted this property at $85,000 and you cannot get the seller to budge. And this seller was like, “Nope, it’s going to be $94,000 or no deal.” And maybe your two top buyers that you always show all your deals to are like, “No 85 or it’s not a deal. You’re just wasting your time, you’re locking up too high”
But what you might find is if you show it to a hundred buyers, there’s going to be that one buyer, the pistachio buyer that actually buys homes in that neighborhood for Airbnb. And because Airbnb nets more, he’s willing to pay more for the property. So 94,000 makes sense. And that’s a big, even, I didn’t really know that theory for the first couple years of me being in the industry, I was so conservative and I would only lock up deals that my two top buyers would approve and or myself, I was flipping it. And even I was too conservative. I was letting things go and I look back at so much opportunity. I’ve lost. There are so many deals. I probably could have done it and if I knew this Pistachio Buyer Theory, earlier on, I would have made more money. So yeah. So hope you guys enjoyed that. It’s funny because it’s a trendy word now. Apparently the pistachio buyer has made it to the TTP platform. [crosstalk 00:09:55] That’s hilarious. Something. I never thought I was just talking and I pulled that one just on a nowhere.

Brian:
Because it’s so catchy. [crosstalk 00:10:07] So that’s the thing, what’s a pistachio buyer? What’s this, what’s bananas everything’s bananas. So it’s just,

Lauren Hardy:
Yeah, it is. It’s catchy. I never thought in a million years that, that thing would stick, but it is a really good way to explain pricing and explain why you want to bid out your properties to other people. Because we all do this. When we first get into wholesaling, we find one buyer, we find one buyer that’s gobbling up 10 houses a month. And we just get comfortable and only want to show them the deals because we’re comfortable and we know they’re going to perform. But then what happens is that one buyer starts slowly taking advantage of knowing that and they give you the lowest price because they know you’re just showing them the deals. So they’re thinking about themselves. And then you’re like, Oh yay. I made 5,000 bucks when really you could’ve made 15.

Brian:
Yeah.

Samantha:
Right.

Lauren Hardy:
So yeah, there’s a lot of little secrets, little tricks and whatnot. So is there anything after maybe taking my program and going virtual, that maybe you learned that was a bit of a game changer that you could get, I love to give practical advice to anybody who’s listening and we did just give a bunch, but is there something that you could think of that was maybe a game-changing piece of information, something you implemented, anything?

Brian:
Yeah. A lot of stuff that you taught us, but I think comping is one and I know comping is a huge thing. A lot of people don’t realize that, but comping, obviously I comped wrong and lost the deal and then got the deal back. And that’s the deal that we’re probably going to talk about, but also how to pull lists and how you kind of showed us the Ninja status. That was absolutely amazing. I mean, that right there is a game changer. That’s-

Lauren Hardy:
Yeah.

Brian:
Absolutely huge so.

Lauren Hardy:
The Ninja trick that he’s referring to is finding where buyers are buying in that market. So my course, when I got approached to make this course, I first started, I had no idea where to start and I thought, okay, I’m going to write down every problem that happened to me in the last eight years. Just anything that went wrong in eight years, I was going back to all these just painful mistakes that I made, where I’m like, “Oh, I wish I didn’t do that. Oh God, that one cost me money” Lots of five figure mistakes, lots of dumb tax that I paid over the last eight years. And I thought, okay. And then what was the resolution? What did I fix? How did I fix it? What did I do? What was the lesson I learned? And I wrote down all the lessons and then I took those lessons and I compiled them into 10 modules.
And one of the lessons that I learned, so when I was in, this was now when I was still working the Southern California market, which is a big territory, I was wasting marketing dollars, just marketing to just whole cities or whole counties. And I would just market to everywhere. And I would get these sellers that are like, “I live in Newport Coast, why you want to buy my house, what, do you know how much this house is?” Or I would get a seller from Corona Del Mar or something crazy.
So expensive. I’m like why did I do that? I was embarrassed. I’m talking to the seller. I feel so dumb. Yeah, you’re right. I don’t have $4 million. Why would I ever, this is not going to work. Why am I doing this? And I think my brother stumbled upon it or something of how to do this on ListSource, is basically figuring out how to find the hot zip codes in the area. And then I realized how to just target my marketing to the hot zip codes. And then if you do that, you’re going to likely have more comps in the area to show the seller that other investors are paying these prices. So yeah, there’s a lot of purposes to do that, but yeah, it was a game changer for me too, for sure.

Brian:
Yeah. Absolutely. Also a cold calling and then you were like, yeah, not a huge fan, but the text blasting that you teach and everything like that, that is definitely tremendously a big difference. Especially out here, because I know in California, people, they’re ruthless. I mean, you try to call them even on texting, but it’s great. I mean, text messages you don’t got to respond back to them as much as you would like to because there is [crosstalk 00:14:23] sometimes I’m very rude.

Lauren Hardy:
Yeah.

Brian:
Yeah so the text messaging has definitely worked for us and I know it works for a lot of other people that you’ve had on your show. So yeah.

Lauren Hardy:
Yeah, yeah cold calling was not my favorite thing to do personally. It’s exhausting, my voice would get tired, when I did it, and then I even, I outsourced it, but I did do it myself for a while, just so I knew what the process was. And I was like, man, this is exhausting. When am I going to hire someone to this as soon as possible, as soon as I learn how to do this, so I can manage someone to do it, I’m going to hire people. And then I did that as soon as possible. But when I put myself in the shoes of a student who doesn’t have that type of money to hire someone yet, I at least can say, yeah, I did it. And yeah, I know it’s exhausting.
So for me, when the texting software kind of got discovered, and I figured it out, man, that was like playing a video game. I just looked at it like, this is like playing a video game. It’s really not that hard. It’s easy to work. And it produced a lot of deals. So I just went with it as my favorite. Now I still, personally, we still do cold call because what we’re finding is, sellers are getting more text messages every week, from different investors and I need to stay competitive and I need to keep my lead flow strong and consistent. So we are still cold calling, but we are very targeted, focused on our lists. We’re trying to go more niche lists. So yeah. So we do a little bit of everything and that’s how marketing always is.
We’re always kind of pulling out of some campaigns and then pulling some campaigns in, trying different things. That’s this business, it’s always, the marketing channels are always changing. I think that that’s the benefit of being part of The Tribe is it’s a collective force of people trying different marketing methods and sharing their experiences. And it helps us as business owners stay on the cutting edge of what’s working and what’s not. So I guess that’s a fringe benefit of being a part of this group.

Brian:
Yes. Very much so.

Lauren Hardy:
So you guys have recently closed your first deal virtually, or you’ve closed two, right? Or you’re close to closing your second.

Brian:
Yeah. The other one, just waiting for the transfer, but-

Lauren Hardy:
That’s awesome.

Brian:
Yeah so the first one, I don’t know, doing virtual, you don’t deal a lot with the seller, like communicate in this and that, but it wasn’t babying the seller. Maybe we just got lucky, but we first did it. And I thought I haven’t got a good price. And I got laughed at nobody was even close to wanting to purchase this. So we canceled the contract and then waited about a month and asked him again. And he’s never sold it and locked them up at 20,000 less than when I first did. And within two days we sold it for 10 and that quick it really was.
But also we got a great JV partner [crosstalk 00:17:25] teaching our course that is huge. Having a good JV partner that actually knows the business, buyer list makes it very, very easy. At least our JV partner, Rick he’s phenomenal. And he actually just took the rings. So after we sent it to him, he dealt with the seller and closing and everything. It was really, really smooth transaction. So it’s just finding the right, I guess, partnership and building the relationship. And that’s what you teach, make sure you go out and find different partners because not everybody’s the same.

Lauren Hardy:
For sure. And that was a mistake I made. But first, a couple of times I went virtual different territories. I’m talking about, I didn’t go. I didn’t even think to have a JV partner. I thought I’ll just build a buyers list myself and just do it myself. And it was so hard, even though I was experienced, I’d already been in the business four years, but I didn’t understand those territories. It’s completely different. Every territory is so different. So someone had recommended, “Well why don’t you just partner with someone and they’ll help you figure out the pricing. With what you’ve done in six months, maybe in one week that person can help you figure out the offer pricing and help you with all the boots on ground stuff and the disposition. And they already have a big buyers list. Try it out.”
Oh my gosh I remember it, that it was, the territory that I first did it in, was in Oklahoma. And we were in that territory for six months. And I think we did one or two deals in six months, we were banging our head against the wall. We could not figure out the pricing. We were pricing the homes wrong. I’d never been in a landlord market before. So I was assuming everybody’s flipping these homes. I had no idea how to factor in rent and what this property would rent for and what are the landlord buyers and looking for, no clue. So I was pricing them wrong. I was offering way too low. I was offering like a flipper would, sellers were saying, “No, no, no”, got lucky maybe once or twice and made no money, nothing. And then someone made that suggestion just said, listen, just find a partner, find a partner X to month. We did five deals in a month. And we were like, “Oh my God, we’re so stupid.”
So dumb. Aw gosh, it was me and my employee. Who’s been, I say we It’s me and my employee who’d been with me forever. He pretty much runs my company. We were just like, that was the piece the stars aligned, right when we got that right JV partner. And then we don’t need the JV partner anymore, it was a process, we used them for about maybe two, three months. And then we really got the hang of it. And we, we started building our buyers list on our own, and then we didn’t and then it was a slow transition. We still talked to that JV partner it’s an open door. If they have a buyer for any of our contracts, they see sometimes they’ll bring us buyers and stuff. It’s totally fine. And just how it worked out really well. And it was a lesson that I learned that I’m glad to be able to teach people to not make the same mistake I did.

Samantha:
Right, right yeah.

Brian:
Absolutely.

Lauren Hardy:
For Sure. For sure. Well, I’m super happy to have had you guys and I’m very, very proud. So what’s next for you? What are some of the next goals that you’re looking to achieve?

Brian:
I want to do at least five deals a month. That is my goal and I think her goal as well. And with her home full time.

Lauren Hardy:
And what do you do for work full-time?

Brian:
Me or her?

Lauren Hardy:
I guess both.

Brian:
I’m self employed. So I own a window cleaning company.

Lauren Hardy:
Oh, cool.

Brian:
And she-

Samantha:
I’m a charge nurse.

Lauren Hardy:
Oh, okay. Okay. So you, you’re very busy right now of course, with everything that’s going on. So I’m sure you’re you definitely want to get home, so you guys both work. I mean, you can’t do this full-time.

Samantha:
Yeah. [crosstalk 00:21:29] kind of take some of my days away so-

Brian:
We try to go early morning start and then in the afternoon, like around [inaudible 00:21:42] 30, when I get home, we try to start texting our people.

Lauren Hardy:
Right.

Brian:
We’ve lost a lot of deals, but it’s just all a learning experience, but that’s our goal five deals a month. If we get three phenomenal,

Lauren Hardy:
Yeah.

Brian:
If we get four, great.

Lauren Hardy:
It’ll grow, it’ll grow from there. But it sounds like you probably need to scale a little bit to help you with some of the lead generation. So you have enough leads to get you to that.

Samantha:
Right.

Brian:
Yeah.

Lauren Hardy:
So we’ll work on that together.

Brian:
Yeah.

Lauren Hardy:
And get you there.

Brian:
Awesome.

Lauren Hardy:
Well guys, thank you so much for having you. Are you guys on any of the social networks? If anybody wanted to reach out, are you on Facebook or Instagram? Did you want to share?

Brian:
Oh, we’re on both.

Samantha:
Yeah.

Brian:
But I am just Rhino home buyers and that’s for either Instagram-

Samantha:
And Facebook, isn’t it?

Brian:
No and then Facebook it’s Brian and Samantha May.

Lauren Hardy:
All right. We’ll put that in the show notes and I’m so proud of you guys. Thank you so much. [crosstalk 00:22:45] And you guys that are listening are interested in a coaching program, check out www.virtualinvestingmastery.com, where I teach all things virtual wholesaling. If you guys are interested, apply there and somebody from Wholesaling Inc. will get back to you same day. Thank you so much for you’re service and I know it’s probably very tough right now-

Samantha:
Yep.

Lauren Hardy:
Working as a nurse. So thank you and hope you stay safe.

Samantha:
Yes, definitely.

Brian:
Thank you.

Samantha:
Thank you.

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