Posted on: March 26, 2021
WIP 653 | First Deal

 

No wholesaler forgets their first deal. No matter how many they end up doing in their career, that deal will always have a place in their hearts and minds. In this 10th episode of the Do or Die Series, Brent Bowers is one step closer to helping Tracy get her first elusive deal. Things are getting exciting as Tracy has two properties in contract. Listen in and pick up some tips on closing deals. Brent will also help Tracy navigate through her hurdles in attracting serious buyers and probate issues. Learn what Tracy is doing right and wrong when it comes to working on her leads.

How do you think Tracy is doing this time? Are you getting excited about what will happen next? Find out in this episode. Hit that play button and enjoy!

Do Or Die Series – Episode 10 – How To Wholesale Your First Piece Of Land

We are on the 10th episode of the Do or Die Series, a journey closer to her 90 days in doing wholesaling! Things are getting exciting as Tracy already has two properties in the contract, and it is high time to sell those to hit her first elusive deal.

Episode Transcription

Welcome to episode ten of the Do or Die Series, how to wholesale your first piece of land. There is a ton going on in this episode. Tracy has got two properties under contract, but now it’s time to sell those deals. Things are moving fast, but it’s not a deal until she sells it. Will she sell one of those deals or maybe even both? You’ll have to read on to find out. Brent goes strong into coach mode on this episode. They also attempt to call buyers and Brent reveals one place where Tracy was making a huge mistake. She was able to correct that. Brent also shares a neat little trick on how to make sure your buyer is serious about buying the property. Enjoy.

How are you doing?

It’s good. I’ve been stressing out about selling a property, but I had some breakthroughs that made me calm down a little bit.

Tell me about it.

WIP 653 | First Deal

First Deal: When you have a huge load of work and you’re skipping lunch breaks, you need help. You can get a partner and split profits, or you get a virtual assistant.

 

I was finding it difficult. I thought it would be easy to get someone to put a sign on my property. I put it out there and I was getting a whole bunch of people interested. They’re like, “I can help out.” When it came down to the details, I found it silly. People are like, “Are you sending me signs or do I go buy them?” I don’t know. It got granular and it was annoying. I finally have someone who is going to be putting signs up for me. That’s promising. I also have two interested people that I’ve found from groups. Now that I’m starting to see things come into action, I’m feeling a little bit better.

How many properties are you trying to sell?

I’m trying to sell my first one that I got under contract because there was some hiccups. It’s been taking a bit longer than I thought. It looks like it’s going where it needs to go and things are falling into place. I got another one under contract. It’s a property, about eleven acres where they cannot get water, but he wasn’t willing to budge a lot. I talked him through it. I got him down for the eleven acres for $23,000, which is a big-ticket price. I’ll probably have to wholesale that property.

I have two people that were excited about selling their land. It looks like I have to call both of them back. I did the initial phone call. Before this, I was researching it. One piece of property is 4 acres. The other one is 1.7. It’s looking like they’re going for much more than that from what I could see so far. That’s good. I offered about $12,000 for the 4.5-acre lot. What I can see so far is they’re looking like they’re going for $40,000 to $50,000 if I’m right. I got to do a little bit more research. The one that is 1.7 acre, I offered about $4,500 and I’m seeing that same kind of spread.

What’s the 1.7 acres going for?

That will cost you about $30,000.

You have a lot going on. Let’s work through this. You’ve got that first one on the contract you were telling me about. Is that the one in North Carolina?

Yes.

You have it under contract. Do you have signs on the property yet?

I have someone going. It took a little bit longer to get that happening, but yes.

It’s on buy-sell groups, Facebook Marketplace, Craigslist. Shoot me one of your ads. I want to check that out and see if I can critique it and shoot holes in it. If I could see any ways to make it better, I’m going to recommend that. Nice job on the eleven acres. I know that guy was hardcore. He was an investor and he bought that land for investment. Let’s get these people on the phone. Let’s lock up these 4.5 acres and this 1.7 acres. If it’s where I think you have it, you got a smoking hot deal. What more research do you do? Let’s do the research now. Let’s call them and let’s get locked up. You’re going to have four properties to sell. We’re on week ten. You only have a few more weeks until the 90-day do or die. We’ve got to get you money coming in. Let’s do it.

I’ll work with the people and left voicemails. I can try to call them back.

Before we do that, let’s get over the hurdle in your mind. In the heat of battle, it’s about staying power. I’m going to give you something. Bear with me. I got off a crazy long run. I’m still trying to catch my breath. I’ve been running thinking about you, Tracy. We’ve got to get you to the end of these 90 days. Before 90 days, we’re going to have money coming in every single month for the next 60 to 70 months and my goal is five deals. Not 1, but 5. Let’s get over this hurdle in your mind. First, before we do that, who is the most important person in this world to you?

I’m going to say, my brother. Maybe I’ll get some bonus points for that.

Which brother? I know you got a couple of them. I know one is sweeter than the other one. I don’t know which one you’re going to say.

Yes, Daniel is much sweeter. I’m going to say Tommy. Tommy has been a very important person in my life. He’s been very helpful along the way.

In the heat of battle, it’s about staying power.

As well as mine, I’ve got Tommy in a van with no windows. You’re never going to see him again if you don’t do a deal. You’ve got 24 hours or you won’t see Tommy anymore. I want you to put that in your mind and make that real. We’re probably going to lose half of our audience because that’s not even fair that I did that, but put that in your mind. I guarantee you. You won’t stop for water breaks, snack breaks, Facebook breaks. None of that. I don’t care who’s calling your cell phone. If it’s not a buyer of land or a seller of land, you don’t take it. Tunnel vision. They put the blinders on the horses, that’s what I need you to have. We’re down to a few weeks left. Let’s get serious. Let’s get over the hurdle in your mind. What research do you need to do for these 4.5 acres to know that it could sell for $50,000?

I need to get on the phone. I want to go onto Zillow. I want to do some comparables. I got to look at what’s been sold recently, what is selling over there and take a look at those prices.

How confident are you on a scale of one being least confident, ten being extremely confident that you’re pretty correct and you’re accurate on your pricing?

I would say I’m about a seven. All I was able to do from the time I got home from work, I called those two people back because they called me while I was at my day job. As soon as I got them on the phone, I got the basic information from them. I got online and I looked at the properties on the GIS. What I did was I looked at the properties around that area that have houses on them and how much did they sell it for. One of them was $700,000 and they were on the same amount of acreage. It looked good, but I don’t know like, “Can I get water there?” I don’t know a lot about it because I couldn’t call the county. I think that’s been one of my hurdles if you’re asking.

A hurdle for me is when I’m at my day job, it is very difficult to find. I literally have been missing lunch. I haven’t been doing anything, but it’s the type of job like being in a school that they’re pulling me into meetings. I’m working with students. I can’t be on the phone with the county. By the time I get home, the county is closed. I got home pretty late. I got online. Whatever I can find from the internet, I’ll look at that, but I won’t know like, “Does this land get water?” I have to wait until the next day. I also have to wait to make sure that I have twenty minutes again on the phone with the county somewhere in my workday. I think that’s why it’s taking a little bit longer. On the weekends, it would be a great time for me to call up the county, but they’re also closed. I’m having a little bit of a stressor with that because I do stay up pretty late doing all my research as I can. I always have a list of, “Call all these people,” and I can’t when my work week is going.

I am sitting here shaking my head, yes, up and down the entire time because I have empathy for you. I know exactly what you’re going through. I had the same exact thing. You have a huge load of work on you. You can’t make calls to the county on the weekend because they’re closed and you can’t make calls at night. You’re skipping your lunch breaks. You need help. The only way you’re going to accomplish this is either getting a partner that you split profits on that you don’t have to pay upfront, or you get a virtual assistant. I don’t care. You can research the least expensive county in the United States and hire someone there for the minimum wage to make these phone calls for you. It may only take them an hour. If you pay them whatever minimum wage, it’s $12 for that hour to get this done and you get your fifteen questions that you have.

They get an answer for you and an email to you for when you’re ready for it. You need help. Start thinking about that because you cannot keep going on like this. This is not sustainable whatsoever. You show me an unhappy, angry, depressed, miserable business person. I’ll show you a business person without a team. You’re literally buying your job. You’re creating another job for yourself, Tracy. I know that you’re on the way to getting people to help you. Right now, it’s the money. You don’t want to spend that money. You got to get over that hurdle. You get completely uncomfortable with this, when you have a team that operates with you, it’s life-changing.

Seven out of ten? That is extremely confident. I’ll tell you what, the first property I bought, I might’ve been a two. The only reason why I got to a three was because I had an offer before I paid for the land. Seven is good. Let’s rehearse the script. Get the script in front of you. Let’s call this seller. From what I understand, this is one seller with two parcels of land. One for $12,000 and one for $4,500?

WIP 653 | First Deal

First Deal: Verify the return address because that’s pure gold. When you get one of those back in the mail, especially for land, that means no other land investor is able to mail these guys.

 

No, it’s two different sellers in the same area. I think my mail must’ve dropped late. I haven’t researched this area before.

If you’re at a seven, I got confidence in you. I’ve seen your numbers. You’ve had spot check. That one in Hernando, dead on. The one in Colorado, the only reason why it wasn’t dead on because you didn’t know there was no water available. That’s not something you could have ever known. I have confidence in your numbers because they’ve been way more accurate than myself. We sent out some bad mailers. I call it bad mailers because we were at market price for some of them. Guess what? We got them to lower their price with that script. Have the script in front of you and let’s call the hardest seller first. Get them on speakerphone, go through the script. Let’s get that property under contract. Both of these. What is a coach for? It’s to make you uncomfortable over your head and give you a good parachute and catch you on the way down. I’ve got you. Trust me. I think you don’t like being on the phone.

I don’t mind being on the phone because I do the voicemail thing. In the beginning, I didn’t like people screaming at me and giving me bad names. Both of these women, they called me. I have no problem talking to them, but let me see here.

People that are secure with themselves will never scream at you. People that are insecure are bullies. They’re unhappy and they want to take it out on somebody else. This is going to be fun. I know you weren’t prepared for this.

I’ve been doing it every day. I’m getting that comfortability with it.

That’s really good. I’m glad you told me that. I know I caught you off guard a little bit. Don’t worry about it. Get that script, go over it a little bit, then throw it on speakerphone. If you want, you can say, “My partner’s on the line with me.” I can jump in if you need me, but I know you’ve got this. I’m only here unless you need me. I’m only going to jump in if you ask me to. Remember, Tommy’s in the van.

I don’t know if I want him back. She just texted me and said, “Sorry, I can’t talk right now.” Should I call anyway?

It’s probably the automated text. Let’s go to the second person. Usually, when you call back a second time, people will answer 90% of the time.

I did just call her right before we started this interview.

It’s alright. She’ll probably call you back then. Let’s go to the next one. I’ve never aggravated a motivated seller by doing that by calling a second time and they usually pick up 9 out of 10 times.

I am calling. This is Mia. This is the 4.6 acres. Let me try that again. It looks like her phone is off. She did leave that in her voicemail.

Do you have the eleven acres under contract all ready to go? We can start working on getting signs out for that one. Getting it on Craigslist. When did you get that one under contract?

When you have a team that operates with you, it’s life-changing.

This afternoon.

Send me that contract as well. I want to check it out. Make sure everything is good, but let’s start thinking about immediate profits, Craigslist, Facebook, buy-sell groups, everywhere. There is a building boom going on in this area. I don’t see any issue with getting this one move. There are ways to get around the water issue. There are going to be some obstacles for the builder, but that’s okay. We’re getting it out at a discount. Send it to me as soon as we hang up. The one in North Carolina that you got under contract and the one in Colorado that you got under contract. Let me know as soon as you get those other two under contract. Those sound like solid deals. How many return letters have you received so far?

To my P.O. box?

As far as not deliverable.

I’m not in zero, which scares me a little bit because I’ve never got any mail to my P.O. box.

Verify the return address because that’s pure gold. When you get one of those back in the mail, especially for land, that means no other land investor is able to mail these guys. We’ve got the lack in the group. He’s our secret weapon. Literally, if you get one back, send him the name and the mailing address and skip trace these people. Call them, text them and email them. I guarantee, they’re not getting any other LOLs. They’re not getting any postcards because the mails are undeliverable. This is where we do solid, pure gold deals.

I need to check my P.O. box, which is something that I’m paying for. Now that you’re saying that, I didn’t even think of it, but that makes sense that you would be getting mail returned to you. I never even thought about it. That makes a lot of sense. I have to make sure that’s working.

Are you doing a virtual mailbox or an actual post office box?

It’s a virtual mailbox.

Make sure they know that they’re supposed to be scanning that back because they might be looking that as junk mail. You want to see those return letters because you definitely want to be skip tracing those. Texting those guys, “Would you consider an offer on your land?” Keep it super simple. You might have a whole pile, though. They might say, “We’ve been holding those. We weren’t sure if you wanted us to scan that or not.” Let me know about that too, because that’s a way to do a quick deal. You got signs going out soon. Have you had any hits whatsoever on the North Carolina property?

Yes, I’ve been getting a ton of inquiries. I’ve been responding to them throughout the day. They’re asking me questions about how much is the HOA or specific, “How much does it cost to build in that area?” I had a guy who’s super interested. I did get to call the management company to find out how much the HOA was. They were telling me all this other information. I took your advice, which was, you said, “Give them that phone number.” I told them, “I know you probably want very specific questions answered and they’re going to be the best ones to do it.” He was so thankful. He’s like, “I want to ask them about this and this.” I said, “Call them up and let me know.” He sent me a little note before and he said, “I’m still very interested. Can we talk tomorrow?”

I also have another woman who I got back with and she’s also very interested. Actually, my seller called me, which he was always the one that I was worried about because he was like, “What’s going on?” I had a good reasoning of why there’s a delay because he’s not on the title. It’s still his parents, but I did find out that he’s on the will. Him and his sister are on the will. That’s not a big deal. I’m going to have to get that transferred.

It sounds like you have a couple of buyers on the line as well for this land. Do you want to get even more uncomfortable?

Not really. No.

How about you can get a down payment right now for this piece of land? Did you say you had 2 or possibly 3 buyers for this piece of land?

The one guy that I was messaging was, I would say, super interested.

Do you have a phone number?

I don’t. I only have him through Facebook Messenger.

That’s going to be even easier. It’s not as uncomfortable. I believe you could sell this piece of land. “I have two people looking at this land. I have a full-time job. I also have a tutoring company. I hardly can take calls and I’m trying to go away and actually have a nice weekend off and not have to work so much. Do you want to go ahead and make a down payment for this land to hold it?” As simple as that. Get at least a couple of hundred dollars to hold it.

WIP 653 | First Deal

First Deal: When making a deal, sharing information like what you do for a living makes you more relatable. That starts a conversation and creates a connection.

 

Message this guy, “I have a couple of people looking at it. I work a crazy job. I’m trying to go ahead and get it moved. I want to take the weekend off. Do you want to go ahead and make a down payment to hold it?” Ask the hard question. Most people don’t close soon enough. You’ll know if they say, “I want to do some more due diligence.” “That’s great. I’ll give you 30 days to do your due diligence. Money-back guarantee. Whatever you want to pay. I have a happy customer guarantee. You want to hold the land. If you don’t love the land, I’ll return all your money back. It’s that easy. Look me up. I’m a school teacher. I’m not going to diminish my reputation for a couple of hundred bucks.”

I can send them that message. I do think, on a side note, sharing what I do for a living and becoming more relatable, a lot of people that I’ve spoken to when I’m like, “Yes, I’m a teacher. That’s why I had to wait until I left the school.” I always feel bad that they call me in the morning. I don’t want them to think like, “Why is this person not calling me back? She sent me a letter.” The minute I say, “I’m sorry, I’m a teacher. I’m in the school building. I can’t call during the day,” right away, that starts a conversation where there’s that connection, which is pretty awesome.

That is absolutely brilliant. I never even thought about that. Who doesn’t want to buy a land from a school teacher? If I was going to say, if someone asks me, “Brent, do you trust school teachers or attorneys or policemen? Which one do you trust the most?” I would say, “A school teacher.” I think you should have that on your voicemail. “It’s Tracy. I promise to return your call as soon as possible. I’m a school teacher. I’m away during these hours. I’ll be returning your call a little later.” There you go.

Who’s ever got wronged by a school teacher on a business transaction? Nobody. If you show me somebody, I’ll pull $100 out of my pocket right now because I’m wrong. I would bet $100 that no school teacher is out there ripping people off of a land. You’ve got a lot going for you. I didn’t think about that. When I was starting out in land, I hid the fact that I was in the military because officers aren’t supposed to have another business. I had to keep what I was doing on the quiet because I didn’t want to get in trouble by my chain of command, but use that to your advantage. I didn’t think about it. That is brilliant. Get that thing sold. Get a down payment. “I don’t care even if you don’t have ability to do a down payment. Call me and I’ll send you a link to be able to take a down payment over the phone right this second.”

I’m going to message both of those people now and make it happen.

Something I want you to start thinking about is start acting where you plan to be. You want to start looking for some, where you can take easy payments over the phone or track notes, because when you have 5 or 6 or 7 or 20 of these notes, you don’t want to be tracking this. You want it done for you. Go to EasyNoteTracking.com and sign up for the service. I think your first one is free. You can pay down payments over the phone and monthly payments. It automatically comes out of their checking account. Then they have a second payment option. If the checking account fails, you can put a credit card on there. I think they do up to three payment options. If the first fails, it moves to the next.

At the end of the day, you want to make it so easy for your land buyers make their payments. You don’t need more to be thinking about. That business is passive. Sell that land. I have another question. You told me about a son that inherited two parcels of land. I was thinking about it. What if he gave you this land for $50? It sounded to me like he was willing to be done with it. I say go ahead and buy it. You cannot make a mistake buying a piece of land for $50. I guarantee you. You’ll sell it for every bit of a couple of thousands.

The issue was is that he wasn’t on the deed. He would have to go through probate.

This is a probate one. Let me think more about that one, actually. Did you ever shoot me the APNs for that area?

I can.

Yes, please do. I was thinking about that.

Yes, they said it would be for about $1,000 to do the probate. I’ll send them to you so you can take a look at it and see what you think.

Yes, I want to double-check, make sure there’s nothing we’re missing. I hate to have you had these deals come in and we’re like, “That’s not a deal,” then it turned out to actually be a deal because the neighbor might want the land. You never know.

I think one of the properties was in between two properties. He was like, “As long as I don’t have to put any money out of my pocket,” he was basically going to give it to me.

You might be able to get it under contract. Never mind because he’s not the owner yet. Let me see if I can figure something out with that. Then what about the Hernando, Florida one?

When you call back a second time, people will answer 90% of the time.

Which one is that?

The one you offered him was $4,500. He wanted close to $20,000, and you said they were selling for $75,000.

The update on that is on the community website, they had properties that were selling for $75,000, $60,000, even some $40,000. I was like, “No matter what, that’s a huge up mark.” When I went to Zillow, it looks like they were right in that $20,000. I don’t think they’re selling from the site. I looked at the community site because I was trying to get a sense of what they were going for. When I did my real research on Zillow and I was looking at the ones that are sold. There are tons that have been on there for $17,000 and they’d been on there for a few months. I think my offer was more accurate than I thought. I was thinking maybe I got it for two cents on the dollar. When I looked at it and I was like, “No, that’s about 20% to 30% on the dollar.”

You’re dead on your offer. Sometimes you got to be confident in your number. You don’t want to do a deal to do the deal. Be confident in it. Nice job. Send me the contract that you have for the eleven acres and also the marketing that you’re doing for the North Carolina one. I’m all excited. Any questions? I’ll let you answer this time.

No. I have a lot of action steps. I’m going to get land sold. That’s my goal.

Let me know. You got about 23 and a half hours left until you don’t see Tommy anymore. Anything else before we go?

No, I think I’m good. I’m feeling confident. I feel like there was that low and learning those steps, dragging it out and having these things that were a little bit of obstacles. I feel it took longer. Now I’m getting all these calls that happened weeks later, like a month later. I’m feeling it. I know it’s all going to click all at once. I feel like I’m right at that point.

You were so close. That’s why I’m pushing you so hard because I know it might be the second, we hang up, you sell this land and I think you can. You’ll get a down payment on it. That solves so much. Get a down payment on the one you own. Send me the eleven acres because I want to make sure everything looks good on the contract that is assignable. There’s no doubt in my mind with the building boom going on. It’s eleven acres. You’ve got so much going and you’ve come so far. You’ve trusted the process. It has been an uphill battle though, starting any business is. I’m proud to see how far you’ve come. I’m excited to see when you tell me you have five or ten notes coming in a month. You hit that $10,000. I’ll let you go so you can get to work.

Thank you, Brent.

You’re welcome. Talk to you later.

That concludes the episode. We are very close to that 90-day timeframe and this has truly been a real nail-biter. Will she do it or will she just decide to throw in the towel? You’ll have to come back to see where things land, but I have a sneaking suspicion that she’s much closer to hitting paydirt than we think. See you on the next episode.

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About Darrin Bentley

Top-producing business professional with 20+ years’ success in global finance, using financial expertise in delivering effective solutions.

Led credit and collections operations to process improvements in managing delinquent accounts, reducing day’s sales outstanding, motivating team members, and supporting sales staff.

Earned promotions and performance evaluations at the highest level for “substantially and consistently exceeding expectations.”

Praised by management as “invaluable,” “indispensable,” and “a major factor” in the company’s success, with “high energy, organizational abilities, drive, tireless enthusiasm, and sense of responsibility.”

Demonstrated expertise in:

  • Prioritizing & Time Management
  • Confident Decision-Making
  • Verbal & Written Communication
  • Persuasive Presentation Skills
  • Troubleshooting & Problem Solving
  • Time-Critical Multitasking
  • Staff Training & Supervision
  • Cost, Labor, & Time Savings
  • Profit & Efficiency Optimization

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