Posted on: August 19, 2021
WI 757 | Wholesaling Houses

 

Sustainable action is key during your first 90 days of wholesaling. College baseball player Nick Kamrada originally planned to work in the medical field, but when he discovered wholesaling, he realized that it could help him achieve his life goals. Eight months after he made the switch, he is now generating a passive income of $1,083 every day!

Nick joins Brent “Mr. TTP” Daniels in today’s show to talk about his wholesaling business. He then dives into a transaction in which he had to act as a mediator between two sisters for a property that he intended to invest in. Nick reveals how he persuaded them to reach an agreement and sell the property, earning him a net profit of $32,500.

So if you’re interested in achieving financial freedom via passive income, then don’t miss this!

Case Study – How to Make $1083 Per Day Wholesaling Houses

I want you to imagine you make $1,083 every single day. My guest on the show started on November 9th, 2020. Since then, he has done $260,000 in assignment fees wholesaling out of Tampa Bay, Florida. Not only that, he moved to Tampa from Michigan and knew absolutely nobody. He had no connections in the business and went out there cold and has been on fire ever since. It is my pleasure to introduce him to the show, Nick Kamrada.

How is everybody doing? How are you doing, Brent? Thanks for having me. I’m blessed to be here.

I’m excited. This is one of those exciting moments where you come into Phoenix. We’re sitting in the show. We’re eye-to-eye and face-to-face and we get to share your story, which is incredible. You decided to get out of the cold of the Midwest and go somewhere where it’s more tropical. You had a passion for real estate. You wanted to do something special and got out of the gates fast.

There’s a lot to be learned here. As we start pulling apart and reading your story, that can help everybody that’s reading because it’s all about getting in action. It’s all about starting and having the confidence and courage to start taking action. Take us back a little bit. Right before you started wholesaling, what were you doing?

I was finishing up my college degree. I was in college up until about the time COVID started. I played baseball in college and never put a whole lot of thought into what I was going to do if baseball didn’t work out. I had kept my grades up and I had always known that I was going to be in the medical field because it was something that I knew would be a good field to be in. My focus was always on baseball.

I was finishing up school. I had gotten my degree but I needed a couple of more classes for graduate school. I was doing that and then COVID hit and all that stopped. Long story short, I found out that I didn’t want to be in the medical field. I started looking at what I wanted to do with my life and doing a little bit of soul-searching.

I started on YouTube. Most people that come onto this show are on YouTube looking up stuff on how to make money in real estate and do all that stuff. I was going to get my license and then I came across Max Maxwell and you on YouTube. Honestly, I went down the rabbit hole and watched probably every video you’ve put out and learned as I went.

What made the switch from, “You’re going down this path. You’re a super athlete. You’re a pitcher in college?” You’ve got designs on taking it as far as possible. You decide, “Maybe I can take it as far as I want to so medical is a nice backup.” What changed? Why not stay with medical? Why decide that you want to be a real estate entrepreneur? When we look at the different options in life, those are totally two different tracks.

They’re not close at all. I looked at where I would be 20 to 25 years down the road if I would be happy with what I was doing every day. In the medical field, I can say I had an interest in it but I never had a passion for it. I was never passionate about schoolwork. Whereas with real estate, I was addicted to it. I was watching YouTube and reading all day, every day throughout quarantine, obsessing about it. I never had any feeling like that through all the schooling that I did. I only felt that way about baseball and now real estate.

Rich Dad Poor Dad, Think and Grow Rich, did you get into the classic foundational books?

Look where you would be 20 to 25 years down the road and decide if you’ll be happy doing what you’re doing every day.

Absolutely. Those were two that I still got sitting on my bookshelf. The ONE Thing was a big one.

When you go on YouTube, you see Max Maxwell and me, you’re starting to understand, what did you first think of wholesaling? Were you like, “That makes sense,” or was it like, “What’s going on here?”

It sounded almost too good to be true. You can have a conversation with the homeowner and get a contract and then sell the contract to an investor that’s going to purchase the property. It sounds a little far-fetched but I also know that there are a lot of things that I don’t know out there. I was like, “Let’s look into this and see what it’s all about.” I eventually dove in then.

You moved into a brand-new market. This place to anybody that’s getting started, a lot of people are like, “I don’t understand if it’s a deal or not a deal.” That’s one of the biggest hurdles that we face as we’re getting started is, “I had a good conversation with this property owner and they gave me a price. I don’t know if this is a deal or not.” How did you get so comfortable being able to run the valuations on a market where you moved to?

I had you for a lot of that. We talked about a lot of properties starting out. You can find a lot of comping videos. Jamil does a great show, Straight Outta Compin’. I watched a lot of that. One of the big things that I came across when I did get my first deal was that I made a connection with a disposition manager at another wholesaling company down there.

We became pretty good friends. He would help me out with where I would need to have a property. He would tell me where we would sell it for so I knew I could do the math backward from there. I’m obsessing about real estate and everything. I didn’t do much except to learn about wholesaling real estate. It didn’t feel like work at all. I love it.

I want to get into this because we talked about the fact that you’ve closed $260,000 in deals but you’ve split this 50/50 with the person that is doing your disposition. For anybody new to the show, there are three parts to wholesaling. The first part is lead generation. That’s where we all start. That’s where you focused is lead generation, going hunting for opportunities.

The second part of the business is converting those leads into actual signed agreements. This is when you’re committed to the seller and they’re committed to you. The third part is the exit strategy. Traditionally, in wholesale, we assign our right to purchase the contract to another investor and we get paid for that. That’s an assignment fee. That’s the exit strategy.

There are a handful of other different exit strategies that you could use like buying and flipping it, buying it to hold it or buying it and tearing it down and developing something else. Traditionally, we do disposition. It’s a third of the business. You were so focused on lead generation that you didn’t want to do the disposition. Are you now starting to see that you got to build up your cash buyer database and make it a big effort? Talk to me about where you’re at in your business.

WI 757 | Wholesaling Houses

Wholesaling Houses: The significant part of wholesaling is finding out who’s a lead and who’s not.

 

I had read The ONE Thing by Gary Keller when I first started. That whole book is all about, “If you can do one thing that makes everything else either easier or irrelevant, what would that be and focus on that?” As somebody that didn’t have any market knowledge or connections, it was to get a contract and so the rest would fall into place. He has helped me to dispose some deals and it has been awesome. It has helped me build a foundation. Certainly, that’s something that I need getting into is starting to build that side of the business all by myself because 2/3 of the businesses is the generation and conversion. I got to get the last part together.

When you started, talk to me about your schedule. What was your schedule because you went full-time?

I had some unemployment money from the pandemic and I decided to put that all into my marketing and living expenses. I would wake up and go to the gym around 7:30 or 8:00 in the morning. I’ll have breakfast and then be ready to go around 9:30. I would be on the phone from 9:30 to 7:00 on most days, honestly. It’s pretty much all day. If I wasn’t on the phone, I would be driving for dollars or going on an appointment.

I remember because every single day you were texting me, “What do you think of this deal? What do you think of this price?” I was like, “He is on fire.” Finally, you got your first deal under contract.

They started falling. I would have sellers that would entertain a conversation but a big part of it is finding out who is a lead and not a lead. I didn’t have a whole lot going on for the first 2 to 3 months and then in month 4, it blew up.

I tell everybody to expect, “In the next 90 days, the most important word is sustainable. It’s got to be sustainable action.” If you have the schedule to be able to do that, you’ve got that discipline from playing sports. It’s that discipline that if you push, great things are going to happen. You’ve got a ton of hope and backup with people that you’re either squadding up within your area with me or whatever else. It clears the table for you to do the income-producing activity of this business, which is talking to the distressed property owner and you went bananas.

I wanted to focus on having as many conversations as I could and finding as many opportunities as I could. They started falling after that 3rd or 4th month. I told myself when I got into it not to expect any kind of pay. I told myself five months was a good surprise to have it on month four.

If you’re making sustainable efforts every day for 90 days, at least Monday through Friday or whatever else, you’re going to get deals. You were a perfect example of it. Do you have a huge background in picking up the phone and cold-calling people?

I delivered pizza in high school and managed a bar in college. I had zero sales experience. It’s nothing like that.

You’re learning through experience. Was it scary?

Focus on having as many conversations and opportunities as you can.

On day one, I called for 6 or 7 hours. I can’t necessarily say I was scared. There were certainly times where I didn’t know what I was talking about. I accepted the fact that I was going to learn and fail as I was going. If I put in the work, good things will happen and that’s exactly what happened.

Let’s break down a deal. Let’s talk about a specific deal that you have done and walk people through it. This is my favorite part of this show because it’s a real deal that’s closed. We’re going to tear this thing apart and figure out how you found it. What did you say? What was the situation? What was going on with the seller and what did you make? Before we get to what you made, let’s lay the groundwork here. How did you find this lead? Was it a cold call?

Everything I’ve done is cold calling. What I will do on the weekdays is I would pull lists and call Monday through Friday. On Saturday, I would call for probably 4 or 5 hours and then go driving for dollars the rest of the day on Saturday and Sunday. This was a driving-for-dollars lead. I called them for the first time in December. It was a hoarder house. It’s a situation where it was a family home that the parents had passed away. The sisters were both grown but one of them was living in the property and fell apart for the most part. She had a lot of belongings in there. It was one of those floor-to-ceiling, pretty much junk houses.

I cold-called them for the first time and the sister was still living in the house. They weren’t ready to sell but they wanted me to follow-up with them because it was on their horizon. I followed up with them for a couple of months. Eventually, they wanted me to come out and check out the property. There was a lot of animosity between the two sisters because one of them wanted to sell the property and the one that was living in it didn’t want to sell the property. I had to play a lot of mediator between the two sisters. Long story short, it was a driving-for-dollars lead that I cold-called.

Are you using an app for driving for dollars?

I’m on PropStream. They have a driving for dollars thing. I save them on the mobile favorites and pull them that way.

For PopStream, you can get access to TTPData.com. Make sure you check that out. The number one tool for real estate investors, without a doubt is PropStream. You’re driving around and looking for properties that are in rough shape. This property takes the cake probably on the street because it’s a hoarder house and there are a lot of things going on in that property. You’re looking at this like, “If I can get a hold of that property owner.” You find out, it’s two sisters. Did they inherit it?

Yes, from the parents who passed away. It was in a trust. We had to get that figured out through a title.

In the trust, was the ownership going to the sister that you were talking to or the sister that lived there or they both owned it?

WI 757 | Wholesaling Houses

Wholesaling Houses: You can’t convince homeowners to make the decision to sell. Just do the follow-up.

 

They both owned it.

You had to have conversations with both of them to fit the timeline in. Here’s the thing. If you’re running up against a property that we would classify as a hoarder house like there’s a lot of stuff in there, it is very difficult for those property owners to move because this is their life and nest. They’ve pulled all these things into their house.

They have a special connection to all these little things. It’s their childhood home but it’s time. This property is only going to get in worse shape. It’s probably a financial burden at some point to both the sisters and a lot of families can’t handle the financial burden. Was the other sister paying anything to live there? Is it free and clear?

No, they had it free and clear.

Do the sisters live in there for free?

Yes. It’s a property. The other sister was telling me about how it’s hard for her to even go in there because it’s their family home that was pretty much destroyed. When I went to go check it out the first time, you could hear the mice running through the vents. There was a lot of tension between the sisters where one of them wanted to move on and get rid of it and the other one was stuck in her place. They were both in their 60s. They had 60 years of their stuff and then their parents’ stuff all in the house. To her, everything was valuable.

What was the conversation you had with the sister that was living in the house? How do you say, “This property is going to get lower in value every single day?” It’s more and more deferred maintenance and stuff in there. It’s more and more opportunities for animals to start burrowing in, living in there and chewing up things. This happens. It’s not normal life but it’s real life.

I didn’t have to necessarily convince her to make the decision to sell. I followed up with them and they were both like, “Let’s sell the property.” It was more about figuring out the details about it. It was more like, “We have to have it cleaned by this time so I can have the movers come in at this time.” Whenever the sisters got to talking about it, they had arguments about it. I was the one that had to be mediating both of that like, “We’re going to do this on this day. The movers are going to come and help you take all your stuff out on this day.” It was more handling everything on the way to the closing table.

That is such an important thing that you said. You can’t convince somebody to sell their house. There are no magic words or magic scripts that you can do and all of a sudden, people are enchanted and they’re going to sell their property at a discount. They’re either going to want to do it or they’re not. The beautiful thing that you’re talking about here and that’s what I wanted to get out of this is the timing. You were there at the right time. You were doing the follow-up. It was finally time for that sister. She was ready to move and the other sister was going.

Our job is never to convince. Our job is to make the process smooth. That’s what we do. We help them move their stuff and get organized so that all their paperwork is right with the title company. We make sure that it closes in an appropriate time frame that they’re looking for. Maybe you even close before they have to move out so that they have some money to be able to move out. All those things we do to make it smooth but we’re never convincing.

Make sure your potential clients know you’re there when they need you.

That’s what I wanted to pull out there because when we’re like, “I get a lot of questions. How do I convince them to sell faster? How do I shorten the timeline and do this?” There are certain questions that you can ask. Most of the time, when you are following up with a lead that you know wants to sell to shorten the timeline, it’s about removing the obstacles to selling the property. That’s what you did.

That was a big part of my mindset with it. I know when you’re cold calling, most of the time, you’re not going to get that person that wants to sell that week. I have had that happen a time or two but it’s not something that you can bank on. My mindset going into it was that I’m going to identify the people that in the near future are going to want to sell the property. I make sure that they think of me when that time comes. Rather than trying to convince them, I make sure that they know that I’m here that when that day comes that they’re ready to sell the property, they think of me.

What did you lock it up and sell it for?

We locked this one up for $236,000 and we sold it for $297,500.

What did you net?

$32,500.

There were probably a lot more follow-up calls and conversations.

I did have to hire a moving company to get her stuff out. We were talking about with people the hoard things. That’s a little bit harder to get them to put one foot in front of the other and go. There were a couple of different things. She didn’t have the stuff ready when I had the movers ready. They had to move half of the stuff. I came personally the next day and helped her package stuff up. I brought a U-Haul over personally the next day to help her move this stuff to her next place. That’s what it is. We’re a problem-solver, whatever it was to help the seller and get the deal done.

For the remainder of 2021, how are you going to keep more of these deals? How are you going to build up your cash buyer database and disposition process? Here’s the thing. I like that you said this. You wanted to focus on the lead generation side and not get distracted. If you found the deals, you want to get the ball rolling, build some moments, build up a nice, heavy, healthy bank account and then keep expanding. That’s fantastic but it’s time to start expanding the rest of the business side.

WI 757 | Wholesaling Houses

Wholesaling Houses: Build a system that can consistently bring you discounted properties.

 

I did the same thing. I was averaging $12,000 a deal, selling to the same 2 or 3 cash buyers and then I opened that up. I read this blog, Wholesaling Inc. I read Tom Krol’s episode and joined that program. Since 2016, I have exploded my business because I built my cash buyer database and it was the time to do that. Now, it’s your time to do it. How are you going to do it?

A lot more networking. I wanted to focus all of my time on finding deals initially because if you don’t have a contract, you don’t have anything. There’s probably a lot of people out there that try to find cash buyers and build up their list. It’s like, “If I bring you a deal, would you be interested in buying it?” They never bring a deal. I figured it would be a better move for me to find a whole bunch of deals and start putting out those deals.

I knew that if I put in the work and did the things that I was supposed to do, God would put the right people in my life. That’s exactly what happened. It was able to allow me to build a foundation but I do need to start getting out. Now that I’m not on the phones every day from 9:00 to 7:00, I’ll have more time to go out, expand the business, find more ways to get more deals and build up a cash buyers list so that I’m not as dependent.

Is it crazy that you are making $1,100 a day? That’s bananas. It’s going to be $2,500 real fast.

I hired a cold caller from Call Motivated Sellers. I moved one of my best friends from high school down. He is making some calls for me and he has already locked up a deal. We’re doing a deal now that I’m not even involved in, which is pretty amazing.

You’re in Phoenix. He is doing the deal in Tampa. How much are you going to make?

We’re going to make $21,000 off that one.

For everybody that doesn’t know, on Fridays, anybody that’s in the TTP Family can fly in, spend some time with my team, look at all the deals and look at our deal breakdown, scoreboard and underneath the hood of my business. Jeremy, my Disposition Manager sold the deal for $33,000. I had never even heard of the address, deal, seller or anything. It’s like, “What an incredible business.” This business is so unbelievable.

If you want to be a real estate investor, the foundation of being a real estate investor is finding discounted properties. It truly is. You figure out that and you can start doing everything else that you want to do like the big dreams that you have whether it’s having a big portfolio or being the best fix-and-flipper in your market that puts out the best houses or if you want to be the bank and lend them money and earn passive income that way or any of these things. It’s so exciting but it starts with finding discounted properties.

That’s what they don’t give you the instructions in Rich Dad Poor Dad, Think and Grow Rich and The ONE Thing. This is where you get the instruction, in this show. If you have distressed property owners and you have a quality conversation with them, that’s the whole business. You start building relationships with cash buyers and you’re rocking and rolling. How do people get ahold of you or reach out to you? They want to say congratulations or connect with you in Tampa. How do they do it?

The best way to reach out to me will be on Instagram @Kamrada_27. I’m not super active on social media. I’ve been thinking about getting more active on there. I’ll respond to messages on there.

God will put the right people in your life.

Show people what you’re doing and people are going to respond. All of a sudden, you’re going to get referrals for opportunities. You’re going to get cash buyers coming out of nowhere. Build your cash buyer database, get loud and you’ve got a million-dollar business. What’s the big real estate or personal financial goal? Is it the passive income thing? Is it the staying in action and flipping thing? What is it for you?

I’ll always want to have at least a little bit of something to do with my wholesaling business. I want to build it to where it’s mostly hands-off but I’ll probably always stay somewhat involved in that. I want to start getting into buy-and-holds and Airbnbs, especially in my area. If you can find it in a good area, you can make a killing off Airbnb. I want to build up this wholesaling business to consistently bring deals across my desk. I’ll cherry-pick the ones that I want to keep for myself and turn them into rentals or Airbnbs. I don’t see myself doing a whole lot of flipping but that’s how I feel now.

It’s interesting because the top wholesalers that I talked to, their retirement strategy is Airbnbs. They’re making a fortune off of 10, 20 or 30 Airbnbs. They’re making an unbelievable amount of money. It’s a great strategy but it starts with finding discounted properties.

Now, it’s building a system to be consistently bringing me discounted properties and then I can do what I want with them from there.

A resource is CallMotivatedSellers.com. I’ve used them for a few years. They are not the least expensive VAs to make the calls. They are the best. They are the Rolls-Royce of hiring phone prospectors. You can check that out. Make sure you use TTP as a code in there and you get moved to the front of the line. Nick, thank you for coming to Phoenix and visiting me.

Thanks for having me.

For everybody out there that is interested in joining the most proactive group in real estate investing with Nick here, it is the TTP Family and TTP Coaching Program. Go to WholesalingInc.com/ttp. Check out what it’s all about. Check out all the testimonials and successes. We’ve got the most incredible wholesalers from around the country showing their successes on there.

You’re going to have to scroll for a while. If it feels good in your belly, sign up for a call and we look forward to speaking with you. I look forward to working with you personally. Until next time. Thank you, Nick. What an inspiration. For everybody out there, I love you and I encourage you to talk to people.

 

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About Brent Daniels

WI 765 | Real Estate Virtual AssistantBrent Daniels is a multi-million dollar wholesaler in Phoenix, Arizona… and the creator of “Talk ToPeople”—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 replacingtraditional paid advertising (postcards, yellow letters, bandit signs, and PPC) with being proactive andtaking action every single day!Brent has personally coached over 1,000 wholesalers enrolled in his “Cold Calling Mastery” training, andhelped 10,000’s of others who listen to him host the Wholesaling Inc. podcast, watch his YouTubechannel, and attend his live events…A natural leader, Brent combineshis 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 aspossible!

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