Posted on: April 22, 2021

Our guest for this show is a hardworking man who started his business in November 2019 and did 53 deals in 2020 in the very competitive DMV area, Armando Olivares.

In this episode, Armando is an open book as he will share how he did all 53 deals, strategies he used, how he found these opportunities.

How did Armando manage to get 53 deals in just a short time? Learn about it from Armando. Do not miss this episode!

Key Takeaways

  • How he started his real estate business
  • His cold calling team and growing it in just a year
  • How he recruits and manages his people
  • Area that he gets more traction from
  • How many leads he generate and follow-up weekly
  • His strong lead-qualifying and follow-up process
  • How he grew his business fast from starting 2019 to doing 53 deals in 2020
  • Breaking down his $107K profit deal going through the pillars of qualifying leads
  • How to get gold of Armando

RESOURCES:

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Episode Transcription

Brent Daniels:
Welcome to the Wholesaling Inc podcast, America’s number one podcast for new real estate investors, where we know that finding discounted properties is the most proven path to financial freedom. I am your host, Brent Daniels, Mr. TTP. And if I can do it, so can you. So let’s get started. We are going out. Listen to this everybody. Listen to this. I am having a conversation today with a gentleman that started his business in November 2019. And in 2020 did 53 deals in the very competitive DMV area, that’s DC, Maryland, Virginia area. It is my pleasure. And we’re going to break this all down. We’re going to break down how we did it, what lists he’s using, how he’s finding these opportunities. He is an open book for us today. It is my pleasure to bring on to the Wholesaling Inc podcast, to the rhino tribe, Armando Olivares. Say hello to everybody, Armando.

Armando Olivares:
Hey man. It’s a pleasure for me to be here. I’ve always watched your videos, buy your scripts. And your script definitely bring a lot of success to my team. But I started in November 2019. I used to work in the bank industry and I really wanted a change. I always love being an entrepreneur and I always wanted to run my own business. I just was never put on the right opportunity. And one day I found out on Facebook what was called selling and I was like, “Come on, do you need a license for this?” And they were like, “No, you don’t need a license for this.” And next thing I was like, “Okay.” And the rest is history.
I did 53 deals on 2020. I had a very successful 2020. And we did a lot of things. We tried a lot of things in 2020. And we found out that the best thing to do with this wholesaling business is about having a strong conversation. It’s about having the right script and be able to dominate, and be able to do a lot of volume. So my main focus, my main marketing tool in my business is just cold call. We have a team of seven, all we focus is on having a lot of cold calls.

Brent Daniels:
So these people, you have a team of seven people that are making calls on your team. Like all of them may calls?

Armando Olivares:
Six on my team, primarily, yes. We do make cold calls and I have this position manager who handles our buyer leads and make sure that we get the deal and the deal gets sold.

Brent Daniels:
I love it. So how does that happen, Armando? I mean, you’re working at a bank pretty much all of ’19, you get into 2020. How do you grow a team so fast in just a year to where they’re making calls, they’re getting trained, they understand what to say, they’re having those quality conversations with distressed property owners. How do you do that? How do you set that up?

Armando Olivares:
I think it’s all about just bringing value to people and not being always involved into a sales job. So I think for me it was having been involved into leadership. I was the leader on my previous job. And I think I learned to… It all goes down to trying to help people out. So in building my team, I always try to call my team out, trying to encourage them, [inaudible 00:04:02] worst for me. And we work a lot of having the conversation, the script. And for us, it’s very important. We’re making a lot of calls, but at the same time what type of training we’re doing. If I’m there and I’m listening to them, we will have a role play. We will have a conversation about, Hey, how did that conversation went? How do you feel about your conversation? What do you think you will do better next time? That brings us a lot of [inaudible 00:04:28].

Brent Daniels:
I love it. And I think you hit on something that’s really important and doesn’t get talked about a lot, which is practicing role playing, like building your skills up, sharpening your skills up in these conversations and not practicing when you’re live with a property owner, right? Doing it in the office, doing it as a team and having fun with it.

Armando Olivares:
That’s correct. The way I see our business is, every time we have the owner on the phone is our shot, our opportunity where we can show what we practice, let them know the value that we’re going to bring. So before we are able to bring that type of value, we’re going to have to, we definitely do a lot of role plays to really understand the situations as you have laid out. There’s only a few things that an owner can say back to you and you master those things out. We will definitely get a lot of motivated sellers.

Brent Daniels:
I love that. And when Armando is talking about with the script is, and you can get this script at ttpinsider.com, a ton of tools, literally everything that you could ever need at TTP insider is free in the tools. But it’s really interesting when you ask a property owner if they would consider an offer on their property, there’s only six responses that they’re going to give you. Yes, no, maybe in the future. How much will you give me? Who are you? And how’d you get my number? That’s it. That’s the six responses that you’re going to get. If you learn the responses to those, you can open up the conversation. How did you recruit people? I mean, are these friends, are they family members? Are you going on LinkedIn? Are you going on some job searching website? How do you find people that are salespeople, that are going to get on the phone, have a quality conversation in a very competitive market?

Armando Olivares:
People that join my team or people that have reached out to me. I have different, I have this person, his name is Derrius. He joined my team. I never really had any type of relationship with this guy, but he reached out to me through Facebook. At that time I was looking for somebody and just happened to be very organic throughout the whole process. I’ve never been in a recruiting business, but I have friends and they were like, “Hey, can I see what you’re doing? I’m going to come with you.” They joined my journey and they’ve been next to me ever since. And now it’s like seven of us and everybody’s on the same level. We all are trying to do something for our family, for ourselves, and for our community. And that truly helps a lot, to allegate all their stuff to them and make it a win-win situation. I think everybody in my team is making a difference.

Brent Daniels:
That’s awesome. Are you guys working in an office or are you guys working from home? How do you manage them?

Armando Olivares:
I have an office there. That’s where we primarily meet. There’s always like three of us, four of us there. So we do have an office.

Brent Daniels:
I love it. Do you guys have a market that you are finding as better than others? I mean, I know that you’ve got three States squished together right there. Is there a specific area that you find you’re getting more traction from?

Armando Olivares:
So the basic is we do hit other markets. We do have a very specific list that we hit. we always see the 20 year [inaudible 00:07:39] owners that leave out of State. Those lists tend to be the most motivated lists for us.

Brent Daniels:
And where do you pull them from?

Armando Olivares:
PropStream. We will pull them from PropStream. We’ll take those lists out. Once we pull those lists from PropStream, we will use Batch Skip Tracing to skip trace all our lists. And then we do have a dowel machine. We put it on our module system and we blast everything out. And that’s what we do with every Safeco and repeat it. We also use [inaudible 00:08:09] as our ECRN tool where we want to make sure we do follow up.

Brent Daniels:
And you set the tasks and make sure that everybody’s staying accountable, right? When you have a team that size, you got to make sure that they’re doing their follow up. Because I can imagine if you got seven people making calls all the time, you’re going to get a lot of leads. Do you know on a weekly, monthly basis, how many leads you guys are generating that you have to follow up with?

Armando Olivares:
We’re generating about one to two leads a day. My team generates about one to two leads a day. We do Monday to Sunday, right? So every day we’re like entertaining a contract or an offer.

Brent Daniels:
Now is the lead somebody that you’re giving an offer to, or just somebody that would consider an offer?

Armando Olivares:
It’s for somebody that’s already considering an offer. So my acquisition team are very strong about putting an offer. We will talk about making sure that we’re okay on the ARV value, making sure that the price that we’re buying is definitely something that we’re going to be able to deliver, and to make sure that our investors are going to make sure that they also make money if we bring this deal to them.

Brent Daniels:
Yeah, 100%. because I’m telling you, I mean, you guys must have an incredible… You must be filtering your leads like crazy because two leads seven days a week is 14 leads. And you’re closing one out of those 14 leads. I mean, that is phenomenal. I mean, that’s almost unheard of. I mean, with us, it’s like one out of 50, 60 leads we need to get, we close. For you it’s only one out of 14, 15. Are you filtering it down? I mean, are these only people that are like ready to sell right now?

Armando Olivares:
Yeah, these are only people that are ready to sell right now. We also do have a strong up process. But the way we do is we will only entertain full leads that will make sense in the wholesale aspect. We don’t like to entertain deals that are not going to be a wholesale deal. If those leads might go through an agent, we will refer those lists to them, right? We like my team to be as straight forward about the type of deals that we’re buying. We don’t buy every lead. We don’t buy every house. We buy very specific house. And I think the we don’t waste their time. I don’t waste our time. We don’t entertain a lot of offers.

Brent Daniels:
I think that’s a wonderful coaching point to me. And honestly, for everybody out there listening, disqualifying leads is critical because if you have too many leads, they’re going to hide the best leads. And then all of a sudden you’re going to get warm and cozy feeling like you have a lot of leads. And you’re not going to get deals because all the best leads that are going to sign a contract with you are buried under 50 other phone calls you have to make to follow up with people that will never do business with you. So listen to Armando when he’s saying, “Filter it out, get rid of the properties that won’t do business with you, or won’t fit into what you’re trying to wholesale or buy.” Are you just wholesaling or you’re flipping as well?

Armando Olivares:
Yeah. We actually are flipping. We’re flipping very heavy. We find out that there’s these types of deals that we will prefer to go with it. And then we also had a goal. My team, we’re trying to do 100 wholesale deals this year and I want to do at least 20 flips and buy like 10 rental as a company. I got to be honest. We’ve been very aggressive about keeping a lot of our properties. We got about six properties this month. Instead of wholesaling it, we’re actually, some are combined, two of them as a rental and the rest were pretty much bleeping the property. Because we see that we have some cash that we made last year that’s not earning a lot of interest in the bank, still wholesale, but there will be deals that my team is also doing now.

Brent Daniels:
Yeah. And before we went live on this podcast, you mentioned you stepped on a nail at one of your projects. That’s why you’re doing this conversation, this interview over your phone, because you just got out of urgent care. Is that right?

Armando Olivares:
Yeah. I literally just got an urgent care because I was walking through one of my projects. My wife bought these shoes that are supposed to be, nail, that they weren’t going to get on it, but I stepped on a nail. It wasn’t that bad. I just went to the urgent care, just got a quick shot, but I got to still deliver what I’m here for.

Brent Daniels:
I love it. Thank you for being on here. So I think the question that’s going through a lot of people, around the question people are wondering is how do you go from starting in November ’19 to having a team of seven people within a year doing 53 deals? I mean, did you just crush some deals yourself early on to build it up? Did you have money to start this business and start hiring people? How do you grow so fast, moving from a totally different industry to wholesaling real estate?

Armando Olivares:
It has to be all a mindset. Right before I got into wholesaling, I was practicing self-developing. I was working on myself. I think a lot of people don’t have time to work on their self and they want to subscribe to 1000 course and they’re like, Oh that course is not good. But in reality, the information is there. It’s just about you getting the information, but what you’re going to do with that information. And I think a lot to it comes with about making sure that you spend time with yourself. And I think the biggest change in my life came when I started actually spending time with myself. I think ever since I found out about the things that I can improve, if I spend more time with myself, I think that was a big life-changing for myself.
And then I’m in wholesaling. I’m in wholesaling. I’m a person that likes to do 10 X. I Like to make sure that once I find something and I fell in love. I always like real estate. And I think if you’re very passionate, and I think helping people out, it’s always been my thing about trying to grow, trying to be my own boss, but at the same time trying to help others out, trying to bring some value to people’s life. And as long as you’re doing the right thing, I think that’s how that started.

Brent Daniels:
Got it. So the first month that you got started, were you making the calls?

Armando Olivares:
Yeah. I mean, I make goals today. I still make calls today. I make calls today. But the first time when I got into wholesaling, I actually did at JB deal. I was looking on Facebook, these other wholesaler had a deal on Facebook and I was very curious about it. That’s how I found out about wholesaling. But he was like, “Yeah, I’m selling this house.” And then I went through another Facebook page and I found a buyer that said that she wanted to buy a house that meet that criteria. And I put one and two together and I made 5,000 bucks. That $5,000 was the best. I mean, before I started wholesaling, I barely had any money in the bank account. I live paycheck to paycheck. And ever since then, it just has been a life changing for myself, my family, and and everybody.

Brent Daniels:
Awesome. Well, let’s break down a deal, man. That’s what everybody gets excited about. So let’s break down an actual deal. Are you ready?

Armando Olivares:
Yeah, let’s do it.

Brent Daniels:
All right. So the way that we do this is, I want to go through all of the pillars of pre-qualifying this lead, right? So the condition of the property, the timeline to sell, the motivation to sell, and the price. So anybody listening, if this is your first time listening, every time you talk to what you would consider a lead or an opportunity, or you’re speaking with a distressed property owner, you want to find out four things, condition of the property, timeline to sell, motivation to sell, and their price. So go ahead. Why don’t you start off with the condition of this property?

Armando Olivares:
So the condition of this property was actually not a bad condition. It was a [inaudible 00:15:45] condition and the person can live out of State. First time I got in touch with this person, he came from a 20 year vacant house, that live out of State. When I first initially reached out to him, it was like in July 2019 that I personally spoke to him, Mr. Larry. And when we got into a conversation, he said that he was motivated to sell, but he was living in North Carolina at the time. There was a lot of things going on and he was not ready for a commitment because he needed to come back to Maryland. So my myself, I build a lot of rapport with him to understand what was the main reason he wanted to sell the property and how my company and myself can help ease this transaction. So when he’s ready to sell I’m going to make sure I’m there for him.
This was July. He said, “Fine. keep in touch with me.” And I kept in touch with him. I’d call this solaria once a month just to check on him and say, “Hey, I just wanted to make sure… I know tennis game is coming out, I just wanted to make sure you’re going to spend it with your family.” And I’d follow up with him here and there. And he really liked me. He built a rapport. We talked a lot about personal life and how he was coming close to make a decision.
And it was January, one of these day, he called me up and he was like, “Hey Armando I’m actually here in Maryland now.” And he’s like, “I’m ready to move forward. I wanted to see if you can meet me at the house.” And I was like, “Yeah, I can meet you today. I’m actually around there.” And he’s like, “No, not today.” He’s like, “Tomorrow.” And I was like, “Okay, perfect. I’m going to bring the contract.” And came over to the house with him. He was there. I already knew about the price that I needed to be because of the analysis that I had done to the house before I got there. And I had a conversation. He never really tell me about the price. He said, “When we’re there, we’re going to talk about the price.” And so when we got there, I got the contract.

Brent Daniels:
This was a vacant house, Armando?

Armando Olivares:
Yeah, this is a vacant house.

Brent Daniels:
How long was it vacant?

Armando Olivares:
It’s been vacant for like five, six years.

Brent Daniels:
Why is he keeping it vacant?

Armando Olivares:
The main reason that he was keeping the vacant, it was because his brother, he had a brother that was trying to buy the house. And the brother always said, “My loan is almost ready.” So pick up-

Brent Daniels:
For five years?

Armando Olivares:
… For five years. Yeah.

Brent Daniels:
This is a great coaching point. And this goes back to, I am telling you some of the absolute biggest, massive, best deals are when the family member either lives in the property for free and they’re not keeping it up, they have no respect for the property, and they’re not keeping up. Or somebody like the tenant or a family member is going to buy the property once they get the loan going, once they get back on their feet, once they get all this stuff. I mean, it’s just fantasy land. And finally the family members are sick of it. They’re ready to move on with their life. They don’t want to deal with this thing anymore. And having a property vacant for five years Armando. I mean, that’s bananas.

Armando Olivares:
Yeah. He was doing a good job about sending people over to keep the grass cat, to keep everything inside. So he was actually doing a lot for the property. But when he came over, I looked at the property and I asked him, I said, “Look, I know you said that you want it to close very fast and I’m here to… I’ve been following up with you for almost over six months and I’m ready to make a decision. I wanted to know if I give you a cash offer and we can close within five days, what will you consider? What will you take?” And he was the one that pointed out about the price and which was a little bit less than I actually expected. And it was good. I was like, “Okay, that’s fine.” So I signed the contract, he signed the contract, sent it to my title company. I worked with a really good title company that she will get it done within three days. And we were actually closing within four days from the time he signed to the time he closed.

Brent Daniels:
Oh my gosh.

Armando Olivares:
And the deal was really good that I wholesale it to a buyer that I was working with. This buyer came because I bought one of her property. So she came with a lump sum of money and she wanted to buy a few rentals in this area. She was very specific about her price point. And when I brought this deal to her, she fell in love with the house and she was like, “I’m going to buy it.” And next thing I assigned that deal to her. It was within the next hour. In four days we were all happy and closing. Seller got his money.

Brent Daniels:
What price did you lock it up for?

Armando Olivares:
I locked it down for 140.

Brent Daniels:
140,000.
And what did you sell it for?

Armando Olivares:
I sold it for 157.

Brent Daniels:
157?

Armando Olivares:
Yes.

Brent Daniels:
Awesome. So you made 17,000?

Armando Olivares:
No, I made 107,000. No, 247. I’m sorry.

Brent Daniels:
You sold it for 247.

Armando Olivares:
Yeah. 247.

Brent Daniels:
247. And you made how much?

Armando Olivares:
107.

Brent Daniels:
$107,000. Oh my gosh. That is incredible. How’d that feel?

Armando Olivares:
I mean, that felt very amazing. It was just based on the value that we were bringing. We work very hard. We close a lot of deals. And one of the things that I was not aiming for, but I was like, “Man, I’ve seen a lot of people close six figure check.” And I was like, “I have to one day close a six figure check.” That was like a goal. But I’m always doing the best for people. I never place down any price point. And it just laid down on its own. It was definitely like a milestone for my company and myself.

Brent Daniels:
So you assigned that, you didn’t double close it, you didn’t double escrow it? The buyer was fine with the 107,000 assignment.

Armando Olivares:
Yeah. We didn’t double close it. My buyers are, I mean, I’m pretty open about my assignment fee before I assign it, just to make sure I don’t come up with any issues. All they care about is about the price. As long as the price that they’re buying makes sense and doesn’t add up, then they’re okay with whatever I make.

Brent Daniels:
Awesome. So Armando, how do people get ahold of you? I think you’ve got a group in the area on Facebook. Talk to me about that. How do people get ahold of you?

Armando Olivares:
I created a group Wholesaling el DMV. It’s a Facebook group where I have share about what I do from my business, from the leads that I gave or where I source my leads. And from time to time I drove some value there. Another way to reach out to me through Facebook, my company name is Homes4dinero.

Brent Daniels:
Homes4dinero.

Armando Olivares:
Yeah.

Brent Daniels:
Love it. Got it. Can they find you on Instagram there?

Armando Olivares:
Yeah, you can find me on Instagram, Facebook.

Brent Daniels:
Under Homes4dinero or just Armando?

Armando Olivares:
Armando Olivares too.

Brent Daniels:
Awesome. Awesome, man. Well, thank you so much. Wow. That is absolutely incredible. $107,000 from one day. Was that a cold call? How did you find that deal?

Armando Olivares:
Yeah, he came from a cold call.

Brent Daniels:
Awesome. And this was you. I mean, you just closed this, right?

Armando Olivares:
Yeah. I closed it about three weeks ago.

Brent Daniels:
And you had originally talked to him in 2019.

Armando Olivares:
Yeah. July, 2019.

Brent Daniels:
Wow. That’s incredible. I mean, that is the power of followup. That’s what you have to do. You have to make sure that when you get a lead that you are building a good relationship with, that you are staying in front of them and staying in from. Do you know how many times you talked to him? How many times you called him before he was finally in town?

Armando Olivares:
At least five times.

Brent Daniels:
Five times. I love it. Well, Armando, thank you so much for being on here. A couple of resources that he talked about, PropStream, you can get at ttpdata.com, the cold calling script at ttpinsider.com. Check that out. And if you are interested in joining the most proactive group in real estate investing, it is the TTP family, it is the TTP program, go to wholesalinginc.com/ttp. That’s wholesalinginc.com/ttp. Scroll down, check out what it’s all about. Check out all the testimonials. You’re going to have to scroll for a while. If it feels good in your gut, sign up for a call. I look forward to working with you personally.
Armando, we finally did it. We did the podcast. Thank you for being on here, man. I really appreciate it. All the best to you in the DMV area. Make sure you reach out to them if you want to squat up at Homes4dinero and Armando Olivares on Facebook and Instagram and that’s it. That’s the show. Until next time guys, I encourage you to talk to people. See you. Love you.

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