Posted on: June 10, 2021

Dhancon Desroches did door-to-door sales for 5 years, switched to wholesaling, and got his very first deal in January 2020. Now, he does business virtually and, just 4 months into 2021, he has made $158,000! He’s proof that if you dedicate at least 20 hours a week to being a real estate entrepreneur, you are going to win.

In this episode, Dhancon shares his work ethic—how he keeps his energy up while cold calling and how he deals with property owners. He also reveals what he does to be able to negotiate prices and gives a breakdown of one of his deals.

Key Takeaways

  • Get into any market you want by being effective at communicating by phone
  • How to find the right joint venture partner
  • On sending contracts via email
  • Dhancon’s tips on price negotiation
  • Get comfortable talking to homeowners first before hiring people to do it for you

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, Mister TTP, Mister Talk To People and I am telling you this, if I can do it, so can you. So let’s get started. Let me hit you with some facts. Here’s the facts that I tell everybody that’s starting out with this business. I’m telling everybody, if you dedicate 20 hours a week to your wholesaling business, to being a real estate entrepreneur, you are going to win. This is going to blow everybody’s mind.
I have on this podcast an incredible wholesaler that lives in Orlando, does business virtually in Indianapolis and listen to this, there are some weeks that he spends 45 hours prospecting on the phone, making calls, talking to property owners. I am so excited to share his journey because listen to this, first year in the business, does $120,000. This year, so far, only four months into this year, he’s at $158,000. It is my pleasure, Dhancon Desroches. I am so excited to have you on here. Let’s rock and roll brother.

Dhancon Desroches:
Let’s do it.

Brent Daniels:
Let’s do this. So you were knocking door to door.

Dhancon Desroches:
Right.

Brent Daniels:
You were doing door to door sales for how many years?

Dhancon Desroches:
Five long years.

Brent Daniels:
Okay.

Dhancon Desroches:
Five years

Brent Daniels:
You’re knocking doors at what point in your professional life do you discover, “Hey, wait a second. There’s this real estate thing that I’ve heard about. There’s this wholesaling thing that I’ve heard about.” How does this enter into your life? You’re out there knocking doors. Are you thinking maybe there’s something bigger, better? How does this happen?

Dhancon Desroches:
Yeah. So always looking for something better than where I’m at already and wanting to improve, but I found out about wholesaling probably year four and a half of me knocking on doors. The way I found out about it is there was a guy, Alex G. I’ll just say Alex G. is his name.

Brent Daniels:
Okay.

Dhancon Desroches:
He did door to door with us, was not very good doing door to door. Yet, you got to put a lot of consistent effort every single day, just knocking in the cold, knocking in the rain. It doesn’t matter, you’re going, and he was not the best. Then, during the middle of the summer, I found out from one of my other friends that this guy is living in Columbia, doing wholesale deals virtually here, and he had a month during the summer, where he did almost 70,000. I’m thinking to myself, “Holy cow. If This guy could do 70,000, I have way more work ethic than this guy.”

Brent Daniels:
Sure.

Dhancon Desroches:
There’s no way, and he’s a great guy too but that’s how I found out about it.

Brent Daniels:
Incredible. So when you find out about it, internally, right, you hear about this and you’re like, “Wait a second. I work harder than this guy.”

Dhancon Desroches:
So much.

Brent Daniels:
“I know that I could do better than this guy.” You’re probably beating him in sales, in what you were doing with door to door security, right?

Dhancon Desroches:
Every time.

Brent Daniels:
Right, every time. So you have that confidence that, “Wait, if he can do it. So can I.”

Dhancon Desroches:
Right, exactly.

Brent Daniels:
That’s what opened the door.

Dhancon Desroches:
Exactly and it wasn’t until … even though I knew the opportunity was there, I wasn’t really forced into it until, after that summer had ended, my wife to be, we’re expecting to have my daughter now.

Brent Daniels:
Yeah.

Dhancon Desroches:
The job that I was at, we couldn’t do the traveling anymore because every six months or during the summer, we would go from one location to another, work that market and then go back to Florida, back in our hometown. I just didn’t want to be traveling with a newborn.

Brent Daniels:
Sure.

Dhancon Desroches:
I told the company that I was with, “Hey, I can’t do it anymore.” They basically flat out told me, “Sorry, you can’t do it.” The only way they’d allowed me to do it is if I took a year off with no work, no pay, having a new kid, can’t do that and then I can rejoin and then I can stay in Florida year round and not have to travel. I’m like, “Well, crap. Well, let me see, what can I do? Oh yeah, I found out about wholesaling.” Found out about your program. Got that and then, I got my first deal in January of 2020.

Brent Daniels:
Yeah, it was fast.

Dhancon Desroches:
Yeah.

Brent Daniels:
I mean, but you were putting in so much work. I mean, you were putting in … I mean, it is hard like, listen, when anybody comes in, I tell them if they call for 15 hours a week, you’re going to start … usually it’s about 20 hours of calls to get a deal, right, but it takes 90 days, right? So you have to have consistency, consistency, consistency. It’s like, “Oh my gosh. I did like an hour. Oh, I did two hours. I did three.” You’re doing like eight hours a day, starting out just pure grit. Just pure … just I’m going to make these calls from the morning until evening, until I start getting deals.

Dhancon Desroches:
Right. Well, so in the very beginning, it wasn’t quite like that. I just recently started doing that about a month and a half, maybe two months ago.

Brent Daniels:
Okay.

Dhancon Desroches:
In the very beginning, we were living in Michigan at my wife to be, her dad’s mother-in-law suite.

Brent Daniels:
Okay.

Dhancon Desroches:
So, we’re just kind of staying there in Michigan until we found a place in Florida to move back into. So it was a little bit tough for me to just work nonstop without having some kind of incorporation of like family time.

Brent Daniels:
Of course.

Dhancon Desroches:
I just felt kind of, a little guilty that way.

Brent Daniels:
Sure.

Dhancon Desroches:
So I didn’t have that consistent amount of work ethic then, but since we moved to Florida, the house we bought, I have a separate space for my office. For me, that’s really important to just separate, just be able to leave the house and just be separated away from the family so I can just work and not have those tempting distractions, to play with my daughter and I can just work. So since we moved back to Florida, yes, I’ve had some days where I’m waking up in the morning. I’m starting calls at eight in the morning. All the calls that I’m making between eight until about 9:00 PM are all people in the East Coast.
Then, once it hits, past 8:00 or 9:00 in the evening, I switch who I’m calling to people over in the West Coast, because for them, it’s still 7:00.

Brent Daniels:
Yup.

Dhancon Desroches:
I’m still calling until … On my time, since I’m calling until 11:00 at night, but on their time, it’s nine. So, people aren’t yelling at me and saying, I’m crazy because on their time zone, it’s a different time.

Brent Daniels:
Sure. How do you stay that focused? I mean, how do you keep hunting for opportunities and making those calls, hour after hour after hour? I mean, what’s going on? Are you distracting yourself with watching something? Some people play video games, some people read books, some people doodle on their … and draw. Some people are watching movies or sports or something. What do you do? Are you just literally just focused on the calls? How do you go for that long and not get bored?

Dhancon Desroches:
Yeah. So, in the beginning I would watch YouTube videos in a different screen and then make calls, but even doing that, I saw that my productivity wasn’t the best because sure, I would go down the YouTube rabbit hole of whatever it is I was watching. Now, I have a little mini trampoline in where I’m making calls and I’ll just get on there. I’ll start making calls and I’m jumping and I’m jumping and I get someone on the line on, I’ll jump off real quick and I’ll start talking.

Brent Daniels:
Yup.

Dhancon Desroches:
I’m walking around. I’m jumping.

Brent Daniels:
Keeping the energy up.

Dhancon Desroches:
Keeping the energy up.

Brent Daniels:
It’s so critical.

Dhancon Desroches:
I’ll put my phone on mute and have music blasting. I’ll take like little minutes and just … because I did a few Tony Robbins events and one of the big things in his events is that you’re always … basically he blasts music. You’re jumping, you’re doing this. Yes, yes, yes, yes. It looks really cheesy but the whole idea behind it is you don’t feel tired, like I would go to one of those events and it’s 2:00 in the morning and I’m still up so, I’m thinking, “Okay. If I could do that there, let me apply that, doing this so all throughout the day, I don’t feel tired because I’m doing all these things, keeping my body active.”

Brent Daniels:
It’s critical.

Dhancon Desroches:
Yeah.

Brent Daniels:
I mean, I remember, I would be making calls nine to noon every single day and I stood. I stood the whole time. You got to move around. I would pace, I would move. I would put my … I had my prospecting cockpit up where it was like, a presentation board like a kid would have in elementary school for like the planets. I would buy one of those at Walgreens. I would put my scripts on that. I would put my objection handlers on that. I would put almost like the vision of what I wanted to do.
I wrote, “I’m going to make $10,000 today,” on it and have it right there in the board and have everything in front of me. Then, that just helped. The movement helped, all that energy that you can bring to the phone.

Dhancon Desroches:
Yeah, exactly and also I wrote down a lot of the goals that I want for this year, because my wife right now, she’s a stay-at-home mom and I want to be able to keep that lifestyle going and if she’s going to work, it not be because she needs to go because we need the money.

Brent Daniels:
Right.

Dhancon Desroches:
I want it to be because it’s something that … for other reasons, whatever reason it is. So that’s one of my goals to get us to just in a better financial situation so we can help out her family, my family. I’m literally saying these things as I’m jumping around in between calls and sometimes someone will answer the phone and they hear the music playing and I got to stop that real quick and say, “Hey, I’m in the car. Let me just turn down the radio so I can hear you better.”

Brent Daniels:
I love it.

Dhancon Desroches:
Yeah, it’s funny.

Brent Daniels:
I love it, so you’re in Orlando and you’re doing these deals in Indianapolis?

Dhancon Desroches:
Yeah. Almost all of them have been in Indianapolis, Fort Wayne. Yeah. Everything has been virtual.

Brent Daniels:
This is a perfect example because listen, you can live anywhere and still do these deals if you’re being proactive and you’re going to … I mean, I’m going to use you right now as the blueprint on how to do this but I mean, listen, if you’re picking up and you’re having conversation, the fact is most of the time that we’re talking to these distressed property owners is over the phone.

Dhancon Desroches:
That’s true.

Brent Daniels:
Right?

Dhancon Desroches:
Absolutely.

Brent Daniels:
A very small percentage of it is face to face, right? So you can do a lot of the work. You can do almost all the work by just being effective at communicating on the phone and you can do it in any market that you really want to go into. That’s the beauty of this.

Dhancon Desroches:
That’s very true.

Brent Daniels:
So you can scale anywhere that you want to. You can be focused in some markets that you feel a little bit better than where you live and do some special things. So what are your boots on the ground … what does that look like in Indianapolis?

Dhancon Desroches:
So I have a JV partner and we do a split of 70/30 just because of how much I’m spending on the marketing.

Brent Daniels:
Sure.

Dhancon Desroches:
And how consistent we are with the deals that I … or how consistent I am with the deals that I bring him. So that was one of the things I negotiate in the beginning. I’m like, “Hey, I’ll pay you a little bit less than the commission, so it won’t be 50/50 but I can guarantee that I’ll be able to bring in this money deals every single month.” Last month we did 14 deals that closed and … yeah, yeah. It wasn’t all virtual, when I was living in Michigan. I would literally drive three and a half hours to Indianapolis to do everything myself and I car camped basically to get my first deal because I didn’t want to pay for a hotel.
So I was literally going back and forth and I’m like, “All right, this is a three-hour drive. Do I really want to drive three hours back and forth?” It wasn’t until I moved here to Florida or back to Florida when I finally went completely virtual because I was forced to. I couldn’t go to the house and take the photos myself. So, I’m thinking to myself, “Well. All right, let me see how I could figure that out,” and because I was forced to I did.

Brent Daniels:
I love it.

Dhancon Desroches:
So, yeah.

Brent Daniels:
I love it and so, how do you find the right person? How do you make sure that they’re going to stay motivated by that 30%? How do you … you know what I mean?

Dhancon Desroches:
Right.

Brent Daniels:
How do you keep that relationship healthy and strong and keep them … I mean, obviously consistency of deals is the big thing, right, but how do you find the right person, do you think?

Dhancon Desroches:
Well, in the beginning, I’ve JV’d a few deals with a few other different people first and I realized that, “Okay, this one guy that I’ve been partnering with, he’s been the most consistent. He’s always bringing deals.” There’s a Facebook group page that we’re a part of and he’s always the most consistent with posting about real estate deals. If it didn’t work out with him, I had some other JV partners that I could have fall back on.

Brent Daniels:
These are other wholesalers?

Dhancon Desroches:
Yeah. Correct. Other wholesalers.

Brent Daniels:
You found them like in a Facebook group, in a meetup, how do you …

Dhancon Desroches:
Yeah. The meetup was one of the ways. So there’s a few different ways that I started writing down other wholesalers. So I need to maybe drive by and I see those “We buy houses” signs. I would write those down and I would call those people and say, “Hey, I’m actually not looking to sell a house, but I wholesale a lot and if we ever get a deal, would you be open to doing a JV?”

Brent Daniels:
Yeah.

Dhancon Desroches:
So I found a few wholesale partners, a few JV partners that way.

Brent Daniels:
I love it.

Dhancon Desroches:
Then through the Facebook group page, I just search REI and then whatever city you’re in. So real estate investment association, Indianapolis is what I searched then. Now, I’m searching it in Florida, and I just look on the Facebook group page, you’ll see a lot of the wholesalers posting their deals there and then I just messaged those guys directly.

Brent Daniels:
Awesome, and they’re fine with just doing a little bit … Now, are they selling your deals?

Dhancon Desroches:
They’re selling their deals?

Brent Daniels:
They’re putting it out to their cash buyers.

Dhancon Desroches:
That’s correct.

Brent Daniels:
Are they going to the appointment if you need them to and getting the contract signed?

Dhancon Desroches:
The guy that I have the consistent partnership with right now, he is. Yeah. Yeah.

Brent Daniels:
For 30%.

Dhancon Desroches:
30%. Yeah.

Brent Daniels:
Man, you got it figured out.

Dhancon Desroches:
Yeah.

Brent Daniels:
I mean, this is brilliant. So you are … on a daily basis, you’re hunting for these opportunities. You’re having these quality conversations with the distressed property owners and then, once you get them to the right timeline, where they are ready to sign a contract, you send in your joint venture, you try to do it virtually first?

Dhancon Desroches:
Yeah.

Brent Daniels:
Try to doing … so the electronic signature on the purchase agreement?

Dhancon Desroches:
Yeah, we’ve had two deals that he had to go and actually have the contract signed for me, but everything else I do through DocuSign. I just do that virtual. The way that I do it, just because I want to keep my conversion rates high is what I’ve noticed, if I just send the DocuSign document over to them and wait for them to sign, sometimes they just … they’ll get cold feet and they just stand me up and they don’t answer my calls back when I try to call them back. So what I’ll do is I’ll give them a call and say, “Hey, I’m getting ready to send this over to you.”
Before I do, I want to make sure everything looks right. I just have a one page document that I send. I read it over to them before I send it because in one of the parts on my contract is I put, “Exact vesting to be determined at closing.”

Brent Daniels:
Got it.

Dhancon Desroches:
So I want to make sure they understand what that is.

Brent Daniels:
Sure.

Dhancon Desroches:
Then once I go over that with them over the phone-

Brent Daniels:
So, wait, wait. Let me slow it down because people are listening and watching this thing going, what does that mean? What is “Vesting to be determined?” What does that mean?

Dhancon Desroches:
So it’s just the entity that you’re buying under will be determined at closing.

Brent Daniels:
So you’re not putting buyer is you?

Dhancon Desroches:
Correct.

Brent Daniels:
You’re putting that it’s going to be determined in escrow?

Dhancon Desroches:
Yeah, in escrow. So on the purchase agreement where it says buyer, it’s my name.

Brent Daniels:
Okay.

Dhancon Desroches:
And under terms, I have, “Exact vesting to be determined at closing.”

Brent Daniels:
Got it.

Dhancon Desroches:
I always tell them just like … this is how I would sell a seller. I would say, “Hey, Mister seller, the LLC that I have under here may change. I have some other partners and just for tax purposes, it might be better to have it under them or it might just have a different person come into it.” That’s the funding partner.

Brent Daniels:
You might have somebody buy it.

Dhancon Desroches:
Exactly.

Brent Daniels:
Yeah.

Dhancon Desroches:
So a funding partner is what I normally say or someone buying it. When they hear that, they’re like, “Okay, yeah, that’s fine. That’s no big deal.”

Brent Daniels:
Yeah.

Dhancon Desroches:
So I explained that to them before I send the contract and then, once I send the contract to them, I ask them to open their email up while I’m on the phone, just to make sure-

Brent Daniels:
This is critical, everybody tune into this. If you are doing … if you send contracts over email, this is critical.

Dhancon Desroches:
Yeah. Yeah and the way that I say it, I think I say, “I just want to make sure that everything works properly because this is DocuSign technology. It isn’t always the most accurate. So, if you could just open it just to make sure that looks good.” Then they open it, they’re like, “Oh yeah, this looks good,” and then I just go over some of the main points with them just to make it really simple so they understand and most of the time, nine times out of 10, they just sign right there while I’m on the phone with them.

Brent Daniels:
Perfect.

Dhancon Desroches:
Yeah.

Brent Daniels:
That’s the best.

Dhancon Desroches:
That is. Yeah.

Brent Daniels:
Because then it’s done. They have all their questions … because here’s the problem. The problem is most of the time we’re talking to people that can’t make decisions about things and then you try to send them an email and say, “Oh yeah, go log into your email. Go read through this document. Go press the button. Sign and do all this.” They’re like, “Whoa, Whoa. That seems like a lot of stuff to go on. Maybe I’ll just take my time with this. Maybe I’ll just get to it when I can get to it,” and these are people that typically, just in their lifestyle, push things back.
Push decisions back. Push action back. They’re not really excited about taking a lot of action and so, you got to make sure that you’re promoting and getting them in a position to take that action with your help.

Dhancon Desroches:
Yeah. Yeah. Exactly. A lot of times … the reason that they’re in that situation already is because most of the time, not every time, but a lot of times, they push things off like you said, so that’s why they’re there. So yeah, just having it right there, simple, over the phone, while they have it pulled up, just makes it so that they just get it done, right then and there.

Brent Daniels:
And going into a virtual market, the toughest thing, the toughest six months, the first 180 days in a new market, the toughest part is, is this a deal or not a deal, right? How do I value this? Does this street match that street? Does this neighborhood value to this neighborhood? Did you lean on the support and expertise of the people already in that market, your joint venture partners to just make sure that you were okay with your offer prices or were you just confident in just locking it up and seeing what happens?

Dhancon Desroches:
Well, so when we’re talking over the phone, when I’m speaking to the seller, initially I get a good idea and I run some comps beforehand.

Brent Daniels:
Okay.

Dhancon Desroches:
Just to make sure I’m at least in the range before I send my JV partner to go over there and take the photos of the property.

Brent Daniels:
Yeah.

Dhancon Desroches:
I always want to make sure that he doesn’t feel like his time is being wasted. So when I tell him to go look at a property, he knows nine times out of 10, it’s one that we’re going to lock up and it’s going to be a good price. Now, once he gets there, he takes some photos of the property. He actually is a contractor himself. So he can tell me, “Hey, this property is going to need this amount of work and it’s going to need this, this and this.” Once he tells me all that information, then I go back over to the seller. We just had a property that we just closed on or I just sold last Friday, we made 10K on.
Initially we were only going to make probably 2,500 bucks on it but the reason we’re able to get that drop is because he walked through it and said, “Hey, it needs this, this and this,” and then I was able to then go back to the seller and say, “Hey, this property needs this.” On top of that, lumber prices, they’re going up so it’s going to cost more to renovate. Then he was like, “Oh, okay. Yeah, that does make sense,” and we dropped it down to 15K and made some more money on it.

Brent Daniels:
Awesome. Awesome. You need that relationship if you’re going to do it virtually.

Dhancon Desroches:
Yeah.

Brent Daniels:
Right? I mean, that’s so critical to be able to have somebody that can go out there, knee to knee, face to face, belly to belly with those sellers and be able to find out those things so that you know, that you’re getting the best out of on every deal and you know that you’re not disappointing the seller with offering too much and having to either really heavily renegotiate or cancel it altogether.

Dhancon Desroches:
Right.

Brent Daniels:
Yeah.

Dhancon Desroches:
Right. Another thing that I do too, to negotiate the prices is I’ll look at what other properties have sold for on Zillow and I look for the lowest priced properties, because most of the time, those are the ugly ducklings, the beat up properties that investors are buying.

Brent Daniels:
Yup.

Dhancon Desroches:
Then, I’ll say, “Oh, Hey, Mister seller, it looks like this property here is sold for 30,000. This other one is sold for 45. Your Price of 67 is a little bit high compared to those. Is there any way we can get down to somewhere around that ballpark of what they’re selling theirs for?” Most of the time, those photos are still up from those other sold properties. So they can go on there themselves and look at what kind of condition those properties were in.

Brent Daniels:
Yup. I love it. I love it. I want to break down and feel … Alex, do you mind grabbing the bell? I totally forgot that one. We got to ring this bell today, but we’ll keep this thing going. So where is your support system for your real estate business? Are you connected with a lot of other investors? Do you have family that are in the business? Is it just internal between you and your wife? What does that look like?

Dhancon Desroches:
Yeah, she supports me. It’s tough for her because sometimes I’ll go in and sometimes when you see like the 45 hour time on Mojo, that’s just the time calling.

Brent Daniels:
I know.

Dhancon Desroches:
That’s not including the time, like going through leads. That’s not including the time of … there’s a lot of other things going on, on the backend so even though I’m only calling for 40 hours sometimes, sometimes I’m working a lot more than that.

Brent Daniels:
Only 40 hours.

Dhancon Desroches:
Yeah. Well, she feels like … sometimes it feels like … I feel a little guilty sometimes when I’m working so much and she’s just out taking care of our daughter. So she does a really good job of making sure that I feel like I have the space and the time to do what I need to do because she sees the bigger vision at the end of the day, which is, I can’t ask for anything better than that.

Brent Daniels:
What’s the bigger vision? So you flew into Orlando for my team meeting, we go through our scoreboard. We look at everything, you meet my team. We’re going to have a fantastic lunch and just kind of like really get into the business. On your Excel, you have a goal of 1.6 million dollars this year, right?

Dhancon Desroches:
Yeah.

Brent Daniels:
So we know, you and I know that wholesale … and the audience knows that wholesaling is like the cash machine, right? Wholesaling is bringing in the money so that we can do things with it, right? We can fix and flip. We can develop. We can become the bank. We can buy rental portfolios. We can be the Airbnb masters, all these different strategies. Where do you see it? What’s like kind of your vision for the next five, 10 years when it comes to your real estate business? What do you want to do with this income that’s coming in?

Dhancon Desroches:
So part of why I was able to do so well with this, I attribute a lot of it to my wife to be. Her dad, let us stay in his house basically for a year while I learn how to do this. He didn’t ask for any rent, anything like that at all, and I was just … man, it was the biggest weight lifted off my shoulders so I can just go full force, learn how to do this and replace what I was doing with the last company that I was with.

Brent Daniels:
Sure.

Dhancon Desroches:
So I wouldn’t be able to give back to him, give back to my immediate family as well too. So that’s what drives me and pushes me. I’m from Haiti initially, so they came to the US when I was four and we still have some family over there that I want to be able to help out and some family here in the US and that pushes me.

Brent Daniels:
Awesome.

Dhancon Desroches:
Yeah.

Brent Daniels:
So are you going to do flips, are you going to do rentals, are you looking for passive cashflow? Are you looking like … I know that you’ve got goals. I know that you’ve got an idea of which path you want to go.

Dhancon Desroches:
So, funny story, I actually bought a … when I got short course, I got Jameel’s course right after and then I bought Pace’s course. So in the beginning I started going… I had information overload. So then I just focused on just one of the courses that I bought and it was basically-

Brent Daniels:
TPE.

Dhancon Desroches:
And they got me the most immediate results.

Brent Daniels:
Sure.

Dhancon Desroches:
Now I’m going to be working on some of the creative finance stuff and then, the micro flip stuff. The creative finance stuff, I’m the most excited about right now, just because that’s going to help me create some of the long term wealth that I’m wanting. A few of the deals that my partner, Richard and I have sold, we were just kind of running some numbers and thinking to ourselves, “Man, if we just hold onto this ourselves and flipped it, we would’ve made an extra 40, 50 grand on it.”
He has expertise on the flipping already, on the contracting side. So in the next month or two, I think we’ll be closing a deal on ourselves and flipping it ourselves and making some extra funds off.

Brent Daniels:
I love it.

Dhancon Desroches:
Yeah.

Brent Daniels:
I love it. When you are calling, do you have a favorite list? Do you have a list that you’re just like, “Oh, I like this list.”

Dhancon Desroches:
Yeah. Yeah. I do.

Brent Daniels:
Yeah. What is it?

Dhancon Desroches:
It’s the Driving for Dollars.

Brent Daniels:
Driving for Dollars.

Dhancon Desroches:
Yeah.

Brent Daniels:
Driving for Dollars.

Dhancon Desroches:
Yeah. I get all my big deals from the Driving for Dollars list. By far, I have two drivers right now in Indianapolis that I have and-

Brent Daniels:
How do you get drivers?

Dhancon Desroches:
I went to Indeed, indeed.com and I posted an ad and yeah, I just went-

Brent Daniels:
Do you pay him hourly?

Dhancon Desroches:
Yeah, I pay him $20 an hour.

Brent Daniels:
Okay. Yeah, $20 an hour. Are they using an app? Are they using something to get the info?

Dhancon Desroches:
Yeah, right now they’re using Deal Machine.

Brent Daniels:
Got it. Yup.

Dhancon Desroches:
I follow a lot of David’s stuff and I made sure I followed his step-by-step ad, post the ad, he has like some videos on it on YouTube too.

Brent Daniels:
Yeah. Deal Machine guys, it is the app that we use. It’s the one that I push out. It’s the one that I’ve negotiated a discount for everybody in the Rhino Tribe. If you are interested in that, dealmachine.com. Make sure that you use the coupon code TTP, when you check out. You can actually go to dealmachine.com/ttp and there’s some extra bonuses there, but check that out. It saves so much. I mean, it really does. I mean, it’s just phenomenal. So, you’ve got two guys out of your Deal Machine app, running around, getting ads or the ugliest properties, right?

Dhancon Desroches:
Yeah.

Brent Daniels:
The worst properties in the neighborhoods, in the communities and they’ll send it to you and you call them.

Dhancon Desroches:
And I call them, yeah.

Brent Daniels:
And you ask them if they would consider an offer.

Dhancon Desroches:
That’s it, man.

Brent Daniels:
Simple business.

Dhancon Desroches:
That’s all it is.

Brent Daniels:
It’s just not easy, right?

Dhancon Desroches:
Yeah.

Brent Daniels:
Yeah.

Dhancon Desroches:
It’s simple but it’s definitely a … because I have a few friends that … I’ll show them my checks because they’re still doing the last job that I was doing.

Brent Daniels:
Yeah.

Dhancon Desroches:
I’ll tell them like, “Hey man, there’s so much more opportunity out there. Just look into it,” and then they’ll tell me, “Man, I really want to start doing what you’re doing. This looks so easy.” I’m like, well simple, but it’s not easy. There’s a big difference. Simple and easy aren’t really the same thing.

Brent Daniels:
Right. Yeah. I love it. Let’s break down a deal. I know … I want to break down the one that is like 30 grand. The one that’s 29 and some change. It’s just about to close, right? When does it close?

Dhancon Desroches:
It closes on the 18th.

Brent Daniels:
Awesome. So should we break it down?

Dhancon Desroches:
Yeah.

Brent Daniels:
All right. So when we break down these deals, people are going to really want to know everything, right? The condition of the property. So every time that we are looking at a lead, we’re looking at four things and this is for everybody, we’re looking for the condition of the property, timeline to sell, their motivation to sell and their price. So first, what list was it on?

Dhancon Desroches:
It was actually a multifamily list.

Brent Daniels:
Multifamily list. Okay. Tired multifamily?

Dhancon Desroches:
Yeah, from PropStream actually.

Brent Daniels:
Okay. So when you’re pulling a tired multifamily, everybody out there, typically what you want to do is you want a year built 1990 or older, ownership of at least seven years. You want to make sure that it’s typically a two and a fourplex, but I think this one is bigger, right?

Dhancon Desroches:
It is, yeah.

Brent Daniels:
This one’s an 11, right?

Dhancon Desroches:
Yeah.

Brent Daniels:
So you went bigger, but you can go bigger with these properties and in certain areas. Areas that people are buying and that’s what you filter through, through PropStream. You can get PropStream at ttpdata.com. So You pull that list, you skip traced it and called it.

Dhancon Desroches:
I called it, yeah. Yeah. He wanted … we went back and forth quite a bit. I wanted to make sure that he felt confident that I’d be able to move forward on it. So I sent my JV partner to go over there and meet with them, walk through the property, get some photos. He sent everything back to me. At first, I think he was wanting somewhere around 340, which was so crazy to me because we ended up bringing them down to 310. I didn’t think we’re going to get them down that low, but after my JV partner did the walk through, I had a lot more ammo to hit him back with. So he ended up taking a lot less.

Brent Daniels:
What was the condition?

Dhancon Desroches:
Most of the units were not in bad shape, but he’s not making very much money on it because he rents it out to a lot of his … the guys that work for him and he’s doing it more of a labor of love.

Brent Daniels:
He’s hooking them up?

Dhancon Desroches:
Yeah and now he’s just at a point where he’s not making any money on the property and it’s not … like a lot of the units, a good amount of them need some work and he just not want to do it.

Brent Daniels:
Yeah. Yeah. Well, at some point that flips to being a burden because the property is just … you got to keep fixing up properties. I mean, if you own a house, you know, you’re doing all sorts of different things whether it’d be landscaping, whether it’d be the roof or the air conditioner or the heater or the water heater, all these different things are just updating, right?

Dhancon Desroches:
Right. Right.

Brent Daniels:
Every 10 years, everything in your house looks like it’s older, it’s crazy.

Dhancon Desroches:
On top of that, he was self managing everything.

Brent Daniels:
Sure.

Dhancon Desroches:
So that was 11 units, self managing and then on top of that, you’re barely breaking even. So when I looked it on the tax records, he had got it back in 2012 for 305,000. He’s not really making a ton on it.

Brent Daniels:
No.

Dhancon Desroches:
I’m just like, man … and he was happy to take 310 just to get it off his hands.

Brent Daniels:
So you’ve got … the condition is okay, probably rental condition, probably needs some sort of upgrades or updating. So, it’s okay and then, his timeline was, he was ready? Do you call them when he was ready?

Dhancon Desroches:
Yeah. Well, he wants to make sure the guys that are living there now are taken care of and have time to move out and everything. So you wanted to wait until the 18th of May. So just, roughly in the next 20, 30 days now.

Brent Daniels:
Awesome. Awesome, but when you called him, mentally, he was ready to sell.

Dhancon Desroches:
He was, yeah.

Brent Daniels:
It wasn’t like he stiff armed you for like six, nine months of follow up.

Dhancon Desroches:
No. He was ready to sign.

Brent Daniels:
He was.

Dhancon Desroches:
Yeah.

Brent Daniels:
Okay, great. So he signs it up and I mean, right away. I mean, it’s one of those situations where … and you know as well as I do, you talk to a lot of people, not a lot of people are like, “Yeah, I’m ready right now.”

Dhancon Desroches:
No.

Brent Daniels:
A lot of them takes 90 days minimum to follow up, right? So he was ready right now. What about the … his motivation was just, it was a burden?

Dhancon Desroches:
Yeah. Yeah. He wasn’t making money on it and there’s some of the units that needed some work and he was weighing out, “Hey, do I keep this?” He’s getting older, getting to the point where he’s ready to retire and does he want to fix it and still continue making no money on it or does he just want to let it go and letting it go and just getting out from underneath, it was a better option for him.

Brent Daniels:
I love it.

Dhancon Desroches:
Yeah.

Brent Daniels:
I love it. Well, he originally wanted 340, you got him down to 310.

Dhancon Desroches:
Yeah. I was really surprised about that. After we did the walkthrough, my partner mentioned a few things, and then when I spoke to my partner, I was like, “Yeah, I’m pretty sure this guy will take like around 290 maybe low 300s,” and I was like, “Well, let’s go forward 305 and let’s see what happens.” He said no to 305, but he’s like, he would take 310.” I was like, “All right. Deal.”

Brent Daniels:
Awesome. Awesome. So then you put it out to your buyers or your JV partner’s buyers, whatever. You put it out to the cash buyers in the market and sold it for how much?

Dhancon Desroches:
330.

Brent Daniels:
330.

Dhancon Desroches:
Yeah.

Brent Daniels:
330 so you made 20 on it?

Dhancon Desroches:
Yeah. Yeah. On my side. I’m making 20 on it. That’s correct.

Brent Daniels:
Got it, but what was the total price that you sold it for?

Dhancon Desroches:
339, I believe.

Brent Daniels:
Yeah. Yeah, because now, here’s the thing, it has 29,000 and you net 20.

Dhancon Desroches:
Yeah. That’s correct.

Brent Daniels:
Got it.

Dhancon Desroches:
Yeah. I’m making 20 on it. JV partner is making 10,000 on it.

Brent Daniels:
Ring it. Incredible, from one call.

Dhancon Desroches:
It still blows my mind, even now.

Brent Daniels:
Right. Man, that is so exciting.

Dhancon Desroches:
That’s crazy.

Brent Daniels:
It’s so exciting. I mean, you’re cruising. I mean, you’re at 158,000 for the year. You’re pushing hard. I mean, you’ve got … you’re closing over 10 deals a month last month, right, and building that momentum. Keeping that momentum, right? So are you going to stay making the calls, are you going to start hiring people to make the calls? What is your suggestion, because here is the big error that I see in our industry is people go, “Oh, cold calling definitely works, but I don’t want to do it.”
“I’m going to hire some Filipino to do it, and they’re going to call, or I’m going to hire 10 Filipinos to do it and they’re going to call and I’m going to get deals and that’s going to be great.” What happens is they don’t get deals. They spend a bunch of money, they burn through a lot of data and they just don’t make that connection. So I always encourage people before you hire anybody, talk to a thousand homeowners yourself, right?
Talk to a thousand homeowners yourself because that builds your skill of being okay talking to strangers about real estate and that’s a skill that’ll last a lifetime and people kind of want to jump past that and just hire people right away. You did it the right way, in my opinion. I mean, you’re like in the TTP hall of fame with the amount of work you’ve done, the amount of success that you’ve had. I mean, it’s just … are you going to keep making the calls, are you going to hire people? What do you think? I mean, I think as your coach, I would say you could do either one. I would highly encourage you to keep making the calls, but I think you can definitely start hiring as well.

Dhancon Desroches:
Yeah, no. At some point I will start hiring but this year, our goal … I’m surprised you remember that, 1.6. I just mentioned that really briefly. Yeah, our goal this year is 1.6. I haven’t mapped out exactly like what we need to do to get there and one of the things that … so my partner and I, we talked about it a few times. We’re competing with a lot of really big companies, a lot of big companies with really big budgets, which we don’t have. The only competitive advantage that we have over them is just the work ethic because these people aren’t talking to someone from the Philippines.
They’re talking to me personally. So That’s the only way that I could see that I could compete with those bigger budgets on, because right now I don’t have the money to hire 10 other cold callers, but this time, next year, I want to be able to remove myself from doing a lot of the work and get out of the rat race myself, which is why I want to focus on the creative financing and then hire some people out to leverage my work. To answer your question, short answer, no, I’m going to be calling at least for this year and then, next year I’ll be hiring out.

Brent Daniels:
Dhancon, awesome. Awesome. How do people get ahold of you? How do they reach out? I know that you’re kind of like, not too much on social media. Is there an email maybe that people could send, if they want to squat up with you in Orlando, or if they want to squat up with you in Indy and maybe they want to help selling their deals or whatever, just be in your world.

Dhancon Desroches:
Yeah. Yeah. Just get at Facebook, Dhancon Desroches. First name is spelled D-H-A-N-C-O-N. Last name D-E-S-R-O-C-H-E-S. Find me there. I’m always there.

Brent Daniels:
Yeah, we’ll put it in the show notes. That’s incredible. So speak to somebody that was you two years ago, just about … just hearing about wholesaling, just listening to this podcast, they’ve stumbled on, they’ve stumbled onto the YouTube channel. What advice would you give them?

Dhancon Desroches:
I’d say hard work is not enough. Consistent hard work is more the direction that we need to start thinking.

Brent Daniels:
I love it. I love it.

Dhancon Desroches:
Yeah, consistency, consistency, consistency. That’s the big thing.

Brent Daniels:
I love it. Well, thank you. That was incredible. I really, really appreciate you being on here and sharing that. I mean, it’s an inspiration. Somebody that spends as much time and effort doing this and starting from nowhere. I mean, you would never had experience in real estate. You were door knocking, selling security and just showing an example that if you just do the work, this business will be successful.

Dhancon Desroches:
Yeah. Yeah.

Brent Daniels:
It will be. Yeah. Awesome. Thank you for being on here. A couple of resources, again, dealmachine.com. Make sure you use the TTP coupon code that gets you the biggest discount that they offer. Don’t mess around, get a TTP code there, ttpdata.com, powered by PropStream. That’s where you go to pull all your lists and get all the information that you need and be able to comp your property so that you know that you’re getting really good deals. If you’re interested in joining the most proactive group in real estate investing, the most proactive family 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. If it feels good in your gut, sign up for a strategy call. I look forward to working with you personally and that is it. We’re wrapping this up. Thank you so much for being on here and for everybody out there, I encourage you as always to talk to people. Until next time. I love you guys. See you.

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