Posted on: July 01, 2021
WI 722 | Passive Income

 

Real Estate is a route to produce passive income that supports your lifestyle while giving you the luxury of time. Take it from Rashod Byers, a Real Estate wholesaler who drives for dollars while doing his mailing job, killing two birds with one stone. He struck gold and earned $100,000 in a pre-foreclosure property.

In this episode, Brent Daniels and Rashod will unravel the nitty-gritty of enhancing your relationship with the seller that will guarantee you to secure a profitable deal.

How to Consistently Generate $100k PER MONTH Wholesaling

Episode Transcription

Before we get into this episode, I want to share something special with you that we are doing to celebrate the upcoming holiday. As you know, the 4th of July is right around the corner. We wanted to do something special here at Wholesaling Inc. that is going to impact a lot of people. The 4th of July is all about freedom and independence. At Wholesaling Inc., we are a big believer in freedom, financial freedom, time freedom, and freedom to do more of the things that you want to do in life. We believe there is no better way to achieve that freedom than through wholesaling real estate. In fact, there is no better time to be a real estate wholesaler than right now. It’s swimming with more opportunities out there than there are wholesalers.

To celebrate Independence Day, we’ve decided to offer one of the biggest discounts we’ve ever offered on all of our coaching programs. This is something that we’ve only done once before and we may never do it again. Starting right now and through Sunday, the 4th of July, 2021, if you join any one of our incredible wholesaling coaching programs, you will get $1,000 off the tuition costs. This is a total no-brainer. If you’ve been reading this, you know that we are the best in the business. If you follow what we teach and do the work, you’re going to get results.

Whether your goal is to get your first wholesaling deal or build a thriving wholesaling business from the ground up, you are going to absolutely want to take advantage of this incredible discount on any of our coaching programs. It includes Brent Daniels’ TTP Cold Calling program. There’s also the Wholesaling Business Blueprint, which is Rafael Cortez’s program, then there’s Lauren Hardy’s Virtual Investing Mastery program. Of course, there is Chris Arnold’s REI Radio Program and The Land Sharks Program, Brent Bowers teaching you how to make money with the land. Also, our newest product entry, which is Chris Craddock’s REI Revive, teaches you how to monetize dead leads sitting in your database.

All you have to do to take advantage of this incredible offer is go to WholesalingInc.com, choose the program or programs that you are most interested in, and schedule a call with our team. We’ll hop on a short call with you, learn a little bit about you, who you are, what your goals are and what you are looking to achieve. If it is a good fit when you join one of our programs, you will receive $1,000 off the cost of tuition. That is, as Brent Daniels would say, bananas. Run, don’t walk, to WholesalingInc.com, click that button to schedule that call with us and get started on creating your real estate success story. There is no time like the present so don’t wait, go there now, and schedule a call with us. You won’t regret it.

I do have to warn you, the only other time that we have made an offer like this, we were inundated with people wanting to take advantage of this incredible discount. It might take us some time to get to you because we are going in order here. It’s first-come, first-served. One last thing, keep in mind that the sale starts now, and it ends at midnight on July 4th, 2021. You have to have scheduled your call by or before midnight in order to qualify for this discount. Good luck. Let’s get into the episode.

I’m going to open this up with a text message that I received from this incredible wholesaler out of Tampa Bay, Florida. This was from March 13th, 2021, “We hit another six-figure month this month. All glory be to Jesus Christ. Thanks for all the help.” That is the best text. I am telling you when I get something like that, that gets me so fired up and excited.

It wasn’t like, “We had a six-figure month,” but, “We had another six-figure month.” I am excited because we were going to do this interview, conversation, whatever you want to call it, virtually, but no, I had to get you in here. I had to get you into Phoenix, into the studio to do this. It is my pleasure to introduce you to the Rhino Tribe, to The Wholesaling Inc. show, Rashod Byers.

Thank you. I appreciate it.

It is an absolute pleasure.

It is an honor.

I have been excited about this for months because you have an incredible story and a true inspiration that a lot of people are going to get from this. Tactically, the way that you do your business is evolving every single month, and you’re getting big deals in the competitive market of Tampa Bay, Florida. First of all, who are you? Let’s go back right before you started your real estate journey. How old were you when you discovered, “The potential of being a real estate entrepreneur is absolutely limitless and incredible?” Where were you at in life?

WI 722 | Passive Income

Passive Income: You must get out there with a true servant heart. You are not only just in words but overall in the way you work.

 

 

I graduated from college. My wife and I moved down to Tampa, and I thought it was going to be the NFL, few injuries, few workouts. It didn’t pan out. God had a different plan. We moved down to Tampa and I started to work at the post office. I was praying and trying to figure out, “God, what is next? I want to be able to give my family a good life definitely.”

I saw a YouTube video of Max, and I saw another YouTube video of a guy named Mark Whitten. They were talking about the concept of locking up a deal and not having to use any money, any credit, or anything along those lines and assigning that over. It intrigued me. I started to look at YouTube videos and those types of things. They told me to drive for dollars. I started to do some driving for dollars and do a little bit of hand dialing. I had a few appointments and a little bit of traction, but nothing kicked off.

Were you searching specifically for how to make money in real estate or how to make money outside of your job? I’m curious where the inspiration is, that a-ha moment where you’re looking online and then all of a sudden, it connects. A lot of people reading this have already been through that or they wouldn’t be here. What was that moment that sparked it? Were you searching for real estate?

I wasn’t searching for real estate. I was searching for a financial future that would put my family and me in a good situation and I fell upon real estate. I went searching all types of YouTube videos about wholesaling and real estate and one thing led to another. I started to drive for dollars. I got a couple of leads.

Are you driving for dollars while you’re delivering mail?

You can say that. While I was delivering mail, if I saw a property, I had DealMachine, I would pin the property in. When I got off of work, I would try driving for dollars. I was getting some traction and then I ran across the Wholesale Inc. show. When I ran across the show, I would put it on my phone when I went to work and I would consume all of that information for a whole six-hour shift. I would put the show on, start it, and I would let it play. I was saying, “If all these people are doing it, it has to be real.” I joined the TTP Program on January 1st, 2020. That was the start.

Income is equal to the amount of value you provide to your community.

That’s when we started getting to work. I was reading this in 2015. I remember learning Tom Krol and Cody Hofhine on this show and I kept listening and listening. It was always on. I was marinating my brain. Everything that I was thinking about was finding off-market properties, discounted properties and motivated sellers.

All of a sudden, you start seeing it everywhere and you’re like, “That house needs some help.” There are so many that need help. It’s unbelievable. It’s a conveyor belt. You’re out there driving and grabbing those properties. What made you think that you could do this? There’s a lot of people that see properties every single day. What made you think that you could have a quality conversation with this property owner and work with them to sell the property?

I’ve always had a knack for myself as far as being a super action taker. If I’m interested in something, sometimes I may go too hard. I’ll dive all the way in. When I started to read this and started to see that there were regular people doing the business, I got intrigued and I was like, “I can do the business.” The first time I made a call, I had bubble guts. I was nervous, butterflies, and everything, but I knew it had to be done. One, two, three, I made the phone call and the conversation went and the conversation flowed. I was like, “It’s not as hard as it seemed.”

In case you guys missed that, the 1, 2, 3 countdown is you’ve got three seconds to press go on that. If you’ve got that number in your phone and you’re hesitating to press call, you’re going to talk yourself out of it. Give yourself three seconds and press the call button because even if you fumble and stumble and it’s all over the place, it’s going to be a better conversation. It’s going to give you more opportunities than never making it.

What’s the worst that they can say? “I don’t want to sell,” then move on to the next person.

When I was making the calls, going through it, and having those conversations, I remember thinking to myself, “I know that their property is in rough shape. They just don’t need my help right now. I’ll catch them in 90 days and see how things are going.” Sometimes when you call people up, honestly, we’re interrupting their day. We’re stepping into their lives without permission. Sometimes that force field is strong, that long stiff arm is long and you don’t take it personally. That’s the situation. You can have a totally different conversation the second time you talk to them.

WI 722 | Passive Income

Passive Income: When the lead comes in, take a look at it and then break it down. This way, you can see what would be the most time-efficient and the highest profit to get out of it.

 

 

One thing that I honed in on when I first started as well as my number one objective, is how can I add value to the seller? That changed everything for me. It’s not even more so as a sales call, but it’s more so, “Is there any way I could add any value to you by helping you get rid of this property or get out of this situation, whatever that may be?”

We’re going to tell this story because he’s got an incredible deal breakdown that I’m previewing here and getting everybody excited about. I talk about this in the training modules, in the program, how exciting it is. You’re not just saying that you’re caring for the property owner but you go above and beyond. What’s special and inspiring about you is you’re going there with a true servant heart. Not only in your words and actions but the way that you work. That’s number one, the seller.

That’s something that people need to know because, yes, we’ll break it down. Rashod makes a lot of income. Remember, income is equal to the amount of value you provide to your community. That’s the equation. Do you want to make $1 million? Provide $1 million worth of value. Do you want to make $1 billion? It’s the same thing. You get going and you’re driving for dollars. How did you get on your first appointment? What was the first deal like?

I was driving for dollars and I saw a property that looked like it was distressed. I put it into DealMachine. When I got home, I called the property. I talked to the guy and he was motivated. He wanted to sell. He was in a situation where he was sick. He had cancer. He had a few properties that he was liquidating. I made an appointment and I went out to the appointment. I met with him. We saw the property and we agreed on a good price.

We were going to sign the contract but he said his wife was out of town and he needed to speak with his wife before he signs the agreement. I talked to him a few days later, his wife was back in town, but then the truth came out that he wanted to sign a contract with me but he had already signed a contract with another wholesaler. I was doing some research on the property and I noticed that it was on Craigslist already, it was on Facebook Marketplace. He had already locked the deal up. That was the first appointment that I went on, which turned out well. It was a great experience. It got a lot of the jitters out and it taught me how to talk.

Can you put yourself in your place when you’re walking into the door of this house? You’re here now. You are now at that next step. You have done the lead generation, pre-qualified this seller and followed up with this seller. Like for athletes, it’s game day. You were auditioning for the role of buying this house, being the buyer. When you walk through that, was the property destroyed? Were you like, “Where do I go first? Do I follow the seller?” What was going on?

I had read enough episodes of the show to understand when you go into a property, don’t start to assess the property immediately. What I did was I went into the property, and I gathered him, “Let’s talk and chat about the situation.”

Build a relationship first.

I was able to build a relationship. He told me about his wife, his kids and his health conditions. He opened up to me about how the property got into disrepair. There were some squatters in the property once upon a time and those types of things. He let it all out. He was comfortable and relatable. We were able to talk and build that type of rapport.

The most important thing in real estate is taking action. Get the education you need that teaches you what action to take.

From there, he was honest with me in the sense that he wanted to do business with me but he did not know how to move forward with the concept that he had already signed a contract with another person. I knew I didn’t want to do that type of business anyways. I understood, “I got close to this one.” I was like, “If you need me to help you look over the other contract or the guy, any value I can provide, I was willing to do that.” That one got away from me, but that was good. That was okay.

There’s plenty more. What’s important is that they get out of their situation, whether it’s us or somebody else. Hopefully, it goes smoothly. We know that we can make it smooth for them. Hopefully, the competition makes it as smooth as well. There’s a lot of great professionals out there. You’re doing some exciting things. You’re not just wholesaling, you’re doing some flips and wholetailing. Talk to me about that.

When a lead comes in, we take a look at it and then break it down and see what would be the most time-efficient and the most profitable. We try to go through it that route. In some situations, the deal is in a good area. Our market is super hot right now. Purchase the property, clean it up, and put it back on the market, which is wholetailing, sometimes it makes sense to go that route. You’ve got other situations where the property needs a ton of work and I don’t want to take on that responsibility. I want to move on to the next deal. I’ll wholesale that one, get out the way and move on to the next deal.

Are there three buckets, flip, wholetail, wholesale?

There’s another bucket. The flip bucket is this. If we are able to get a property and it does not need a ton of work, how we look at it is around $25,000 and under in repairs and the profit margin is around $50,000 or higher. We’ll make the decision. “Let’s go ahead, take it down, and flip it.” We don’t want to never pass up on the experience of a good opportunity, learning a lot in that process as well. What we’ll do is we’ll take it down, do the light repairs to it, and put it back on the market.

We do the same thing. We look at it and, most of the time, I’m going to wholesale it. In some flips and wholetailing, there are more processes. You got to get insurance, utilities on, get it cleaned out, you’ve got to make sure people don’t break into it and all of these things. There are a lot more responsibilities that go on to it, which could lead to more profit by taking these things down. In my mind space, I start spinning. I start thinking about paint colors, the fixtures and the door handles. Do they match the hinges on the door? I go down the rabbit hole in flips. I know this.

Here’s the good thing for me. I’m not interested in anything but locking up the deal and getting the deal. My wife handles the decorations, floor color, paint color, granite color and backsplash. She’s my designer, so she handles everything on that end. My job is to lock up the deal and get it to where we can make a good profit on it.

Do you see yourself doing more of that? What do you see? What’s the big dream? We have so many different options that open up once we learn how to find discounted properties. Anybody that’s maybe reading this for the first time, the foundation of your real estate business is finding discounted properties. To make it the monopoly analogy, the red hotels are a rental portfolio, developing land, developing properties, fix and flip, and being the bank. There’s a lot. Those are the four major ones. Where do you see yourself? What excites you? When do you get pumped up? When you think about it, all the good chemicals in your brain are going crazy. What is it?

WI 722 | Passive Income

Passive Income: The foundation of your real estate business is finding discounted properties.

 

 

Here’s our goal. My wife and I want to create enough passive income where it supports our lifestyle. We’re looking to buy. We have our expenses and everything mapped out. We did the calculations on that. We’ve calculated what it will cost as far as taking care of the bills and as far as living a good, fun, enjoyable life, and being able to give our daughter a good lifestyle as well. We looked at those things.

What we want to do is we want to buy enough assets. We’re using the funds from real estate and we’re going to buy assets, whether that’d be multifamilies that generate passive income. I don’t think we are super big on single-family rentals. We want to buy some multifamilies. We have a few other businesses that we’re looking to start up that generate passive income as well. We’re letting real estate fund it.

What kind of businesses?

We’ve already agreed we’ll probably buy a semi-truck. We’re going to do that. We want to start a daycare chain as well. We want to do that as well, those types of different things.

It’s smart. There’s so much that you can do if you have the income coming from this. That’s what wholesaling is. Let’s be honest, wholesaling is a cash machine. It is not a business unless you go crazy and franchise it or something. It’s typically not a business that you could sell but it is a wonderful device for getting big, healthy bank accounts.

It’s like you’re hitting the lottery over and over again.

Let’s break down this deal because I’ve been talking about it. People come up and ask me about it. Now you can tell the story and we’ll get through it.

One day, I was at work. I was a mailman working at the post office. I was driving around delivering my route and I saw a truck. I’m listening to the show as well. I see a property and the grass is overgrown. The grass is high and I see someone outside with the truck in the driveway and it looks like they’re working on the truck. I pulled over, parked the LLV, got out, went up, and asked him.

Are you dressed as a mailman?

I’m in mailman clothes and everything. I’m in the middle of my route. I pulled over and I said, “Have you ever considered selling this property?” He was like, “I haven’t thought much about it but yeah, I would be.” He stood up and we chatted a little bit about it. He told me a little bit about it and he showed me the backyard a little bit. It was a property that was in a nice condition.

I asked him, “What makes you want to sell?” He was saying that the property was too large for him. It’s in a stellar area in Tampa in this community. It was in an area called Valrico. The property was about maybe 1,900 to 2,000 square feet. He was looking for something smaller. He was a little disabled. He couldn’t move around that well, so he couldn’t keep it as clean as he wanted to, and those types of things. I was like, “Perfect. I’ll keep in touch with you.” He had no cell phone. When I went home, I started to do some research on the property and I found out that the property was in pre-foreclosure.

Consistency sometimes looks ugly and gets tough. But you have to keep your faith.

I went to Walmart and I bought him a cell phone. I said, “This is how we’re going to keep in touch.” I will stop by every now and then when I get off work and I would bring him some barbecue chicken. I would sit and chat with him but I would talk nothing about the property. I would talk to him personally. We were able to build a bond. I came over and brought him chicken probably about 5 or 6 times. It was the best barbecue chicken in town, so he liked that and he enjoyed that.

Long story short, one day, I came over to him and I asked him if he was still interested in selling. He was like, “No, I’m not going to sell. Don’t worry about it.” I got a little discouraged, like, “He doesn’t want to sell anymore.” I started to take longer periods of time following up with him but I continued to follow up. Every now and then, I would drop by. “I wanted to come and see how you’re doing. If you need anything, don’t hesitate to reach out,” and those types of things.

One day, I was leaving work and I was praying. The Holy Spirit told me to go by and I drove by. When I drove by, I knocked on the door and I asked him, “I see you haven’t sold your property yet. Are you still interested in selling?” He was like, “Yeah, but I’m not taking no less than $100,000. If it’s not $100,000, then don’t worry about it.” Inside of my gut, I started to jump because I knew at $100,000, it was a smoking hot deal but I didn’t want him to get seller’s remorse.

I said to him, “Is that the best you could do? You’re going to take me for everything at work if that’s the best thing you can do.” He said, “Yeah.” What I said is, “If I go home and get the contract, would you sign it?” He said, “Yeah.” I went home and got the contract, which I should have had some in my car. That was a rookie mistake. I went home, got a contract, and when I came back, he wasn’t home.

What’s going through your head then?

I’m panicking. I’m like, “I lost the opportunity. It took this man so long to agree to sell.” I’m like, “I probably lost the opportunity.” I went home and went to work the next day. I swung by his house about 9:00 AM. I knocked on the door and he was there. He opened the door and he was like, “Yeah, let’s go.” He signed and from there, it was good to go. I sent it to the title company and I ended up closing on the property.

What was he doing with the pre-foreclosure? Was he catching up, getting behind?

He was getting behind.

This is 2020?

Yeah. This is June.

They had a memorandum on all the foreclosures. They were postponing all the foreclosures because you don’t want people out in the streets. It was a moratorium.

WI 722 | Passive Income

Passive Income: Your priority must be about adding value to clients by helping them get rid of a property or a particular real estate situation.

 

 

We locked it up. We ended up purchasing it and we closed on it. We gave him about 30 days to move out. He moved out and we cleaned the property up nice and we listed it to the MLS.

I really think that this is a smart move. I try to give this advice as much as possible. When you have a good deal, a solid deal, find the funds and close that deal. Don’t get it out. Don’t put it out to the public. Don’t let there be any chance that somebody tries to go in and talk to that seller or tries to torpedo the deal. You’ve got a buyer lined up and they back out at the last minute. The seller gets mad at you. You break the trust. You don’t close that deal. Do what’s on the purchase agreement that you have with them. “Here’s the money I’m going to give you and here’s the date that you’re going to get it.” Get it done because we’re going to see what happens when you do the right things here.

We closed on the deal and he got his funds. He was happy and elated. We went in and cleaned up the property. We got the yard cut nice. It was on a large lot, maybe a little over an acre. It’s a nice house. We closed on it and we put it onto the market. This was a good way that I built my cash buyers list of good credible buyers because I listed it at $170,000 knowing that the ARV was little and that got everybody to flood in.

Everybody was calling me and I was taking down their contact information and making connections with realtors. I was telling realtors, “We buy these properties all the time. Anything you have, send them over my way as well.” They were sending proof of funds, so I knew that they were good, credible buyers. I was adding everyone to my buyers’ list as well. Long story short, the property ended up getting bid up to $212,000.

Let’s do some napkin math here. You bought it for $100,000, sold it for $212,000, and you netted how much?

$103,000.

There’s probably $9,000 in costs there with your agent fixing it up, cleaning it up, and getting the insurance and utilities on. What did that feel like when it hit your account? What did it feel like seeing six figures in an account and not from a real earned income?

It was life-changing.

It’s a blessed feeling to put your family in a situation to build wealth and live a dream life.

It wasn’t inheritance. It wasn’t a lottery. This is you going out there, having a conversation, bringing the homeowner meals 5 or 6 times, having conversations, building that relationship, and being there at the right time. The Holy Spirit told you to go by. If you do a massive deal, if you do a deal over $50,000, it’ll change your brain chemistry. It’ll change the way you think. All of a sudden, everything starts opening up. By the way, so that everybody knows because I wrote some of these down, $57,000 next, $60,000 next, $70,000 next. You’ve got another deal that you locked up and you bought for $200,000 and it’s worth $650,000.

It changes your brain chemistry. I tell different people, when I talk to them, I say, “Because I’ve closed such large, massive deals, it’s like when I’m talking to a seller, I expect to make that much money.” It shifts me in a way to understand, “You can make that much on a deal and it’s okay.”

Speak to people that are getting going. They’re reading this and they’re excited. What do you think that they should do first to start down the path that you went down and be successful in wholesaling?

The key to this business, the most important thing that we know, is we have to talk to people. That’s the first and foremost. Most importantly, we have to talk to people, and then we have to get organized and systematic. The most important thing is taking action. Don’t skip out on education. Get the education that you need and teach you what action to take. Once you get that and then it’s off and running from there. It’s consistency. Sometimes it looks ugly and sometimes it gets tough, but you have to keep your faith.

The thing that has been my success in this position is my faith. I believe. I know for a fact that no matter what it looks like, no matter what the situation is, I believe in God. He’s going to take care of me. He’s going to make sure it worked out. I get so much support from my wife. She pushes me to reach the highest levels. She’s finally come on to the team now, so she’s full-time with us. She’ll be starting to get into marketing and everything.

What’s her name?

Trinity.

Shout out to Trinity. You guys are taking it to the next level now.

It’s a good feeling knowing that you put your family in a situation to build wealth and live a dream life. It’s a blessing.

WI 722 | Passive Income

Passive Income: If you want to build a proper relationship with a client, don’t immediately assess the property. Instead, begin by communication and getting to know them better.

 

 

How do people reach out to you? Send you a message, get you some love, or maybe they want to connect with you in Tampa Bay. Maybe they need some help selling some deals or doing some deals or maybe they want to sell you a deal.

We do fix and flip wholesale deals as well, so we’re actively buying as well. I don’t have an Instagram or anything, but on Facebook, you can reach out to me at Rashod Byers. DM me and I’ll respond.

In Tampa. Guys, definitely reach out. If you have Rashod in your squad, you’re going to win and you’re going to win big time. He’s an incredible entrepreneur. He’s got everything in alignment from the faith on down, faith to fact. You’ve got it all in alignment. I’m excited to see you in the next few months and few years.

I’m excited. We have a flip that we’re supposed to be starting and it’s another good one. We have a lot of stuff in the pipeline. Right now, we’re slowly building the team-up. We have one cold caller and I’m doing acquisition and disposition. My wife is doing marketing, systems and processes, and those types of things. We’re looking to hire a few more cold callers. We’ll probably add two cold callers to the team and we’ll go from there.

Thank you.

Thank you.

Thank you for coming to Phoenix. That made it incredibly special. One of the resources that Rashod mentioned was DealMachine. A few years ago, Rashod was driving around in a mail truck with his uniform on with the DealMachine app, adding distressed properties. It is that simple to get going. DealMachine.com, check that out. Use the coupon code TTP. It’s the biggest discount. They love us. They love the Rhino Tribe. They love the show and they love TTP. Use that TTP code to get a discount.

If you are interested in joining the most proactive group in real estate investing, with Rashod Byers, the TTP family, the TTP program, go to WholesalingInc.com/ttp. Scroll down, check it all out. Check out the testimonials and the incredible people that are in the community. If it feels good in your gut, sign up for a strategy call. Everybody else out there reading, I will sign off, as I always do, encouraging you to talk to people. Until next time, I love you guys. See you.

 

Important Links:

About Brent Daniels

WI 735 | Cold CallingBrent Daniels is a multi-million dollar wholesaler in Phoenix, Arizona… and the creator of “Talk to people”—a simple, low cost, and incredibly effective telephone marketing program…Also known as “TTP”… it helps wholesalers do more, bigger, and more profitable deals by replacing traditional paid advertising (postcards, yellow letters, bandit signs, and PPC) with being proactive and taking action every single day!

Brent has personally coached over 1,000 wholesalers enrolled in his “Cold Calling Mastery” training, and helped 10,000’s of others who listen to him host the Wholesaling Inc. podcast, watch his youtube channel, and attend his live events…A natural leader, Brent combines his passion for helping others with his high energy, “don’t-wait-around-for-business” attitude to help you CRUSH your wholesaling goals as quickly and easily as possible!

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