Today’s rockstar Rhino, Melodee Lucido, built a successful Wholesaling business on relationships, integrity, and service. She has been Wholesaling for six years, and she’s going to share what she’s learned by diving deep into her most recent deal.
A Friendly Deal
Melodee’s most recent deal was a bit of an odd one. It didn’t come from a mailing or any other traditional marketing avenue – it came from a neighbor who she built a good relationship with over many years.
- The neighbor was a baby boomer and a little lonely, and the two of them talked every time she went by his house.
- One morning he said he wanted to sell the house because he wanted to be closer to his daughter. They put up ads advertising two options: rent to own or cash purchase.
- 10 people were supposed to come to the open house, but only two did.
- The house was put under contract within 30 minutes to a chatty lady who did show up.
- The buyer didn’t want to deal with the bank or escrow, so she offered to pay for the house with a bag of gold coins.
- They put the property under contract for about $100k, and Melodee ended up making $45,000.
Cody Hofhine: Welcome to another podcast episode here on Wholesaling Inc. my name is Cody Hofhine and I have got an amazing rock star Rhino with us today. You can already hear her laughing in the background, which is great because this will explain her to a T.
That smile, that laugh you listened to is why she is so successful. When talking to… Her name is Melodee Lucido. She’s been in the Tribe since May of 2016. She lives currently in Memphis, Tennessee. And when speaking with her, one thing that’s super awesome about her is she builds her business on relationships, integrity and service.
And as she does these three things and she does it really well and you’re about to find out just how well she does it. This is why she’s so successful because the byproduct is she’s able to wholesale a lot of homes and she’s been wholesaling for at least six years now and we’re going to kind of deep dive and get into some meat and potatoes really quick on a most recent deal that she did that was just in the beginning of April of 2017, where she did really well.
I’m not going to give all the secrets away or what she made on it, but we’ll deep dive that here in just a second. So let’s bring on Melodee Lucido. Melodee, how are you?
Melodee Lucido: Oh, Cody, I’m awesome. Awesome. Thank you for having me on the podcast.
Cody Hofhine: You are so welcome and it’s actually an honor to have you on the podcast. I always loved your excitement. I love your interaction in the forum. I love your interaction on Facebook. Like every time I read a post or read your cheerleader behind when I do a post. I’m just like, “I love this lady.”
Like so honest, so humble, so excited, so enthusiastic and I’m telling you, you just hold natural traits that make you a successful but also attract a lot of people to really love you.
Melodee Lucido: Thank you Cody. Thank you very much.
Cody Hofhine: Well Melodee, kind of fill us in a little bit about who you are and then let’s get right to the meat, potatoes and deep dive on your amazing deal that we’re going to talk about today.
Melodee Lucido: Okay, awesome. I was born with the gift of gab. And the comedy, I got that from my dad. My dad was Portuguese and we’d go to the market for a gallon of milk and he had to stand and talk to the person next to him for half an hour. I mean, while I’ve got three little kids in tow, but I loved that quality in him and I’m blessed with that boost.
So I never meet a stranger and people know it when they talk to me on the phone to having done only virtual for five years. And then the last year I was actually working in Memphis and in my local market in Arizona, which is two hours north of Phoenix.
Cody Hofhine: Let’s kind of go right into it and maybe deep dive the deal that we’re going to talk about today. And one thing to kind of preface this for our listeners is just how good you are building relationships and establishing those relationships of trust. Because this actually was a neighbor of yours and because of that relationship that you had with them and just that trust that you, you’ve built with them over the years, he wanted to instantly work with you when he wanted to sell his home.
So let’s kind of go through that. This isn’t a traditional, like you send out a direct mail. This was just you being a friend, like you are to everyone you meet, there’s no enemies in Melody’s life. And if so, Holy smokes, they’re absolutely crazy.
But with that being said, you built relationships with your neighbors and now here is a neighbor coming to you. What did that sound like when he came to you?
Melodee Lucido: Well, I’d only known him seven months and he had the gift of gab teeth. So we would always stand in the middle of the street while my dogs were… Like, come on, let’s go. But we would stand there and talk for 15 minutes just about life. And you know, a lot of times with baby boomers, they’re lonely.
Cody Hofhine: So this gentleman is feeling just lonely in general.
Melodee Lucido: One morning… He was. So he looked forward to chatting with me when I would come by. And so anyway, he says, yeah, he had to sell the house because he wanted to go be with his daughter in Florida.
And so I said, well, I’m an investor. I mean like, what do you need? You know, what are you thinking when you’re thinking about selling it? And he goes, well, I can’t do any bank financing. He goes, because it’s a manufactured home, in the base of the home. And then he added a bunch of stuff onto it and it was really a great home.
Anyway, it was just chit chatty, you know, what do you want? And we’d brainstorm back and forth. This went on for a couple of weeks and then one morning he just said, “Yeah, let’s do that. Let’s do that rent-to-own.”
He said, I’d rather have the cash and cash out. He goes, but let’s do the rent-to-own. So I ran an ad and I put both possibilities in there and I was supposed to have like 10 people show up. Cody, I swear to you, this is like a little dirt dust, Podunk town and to have 10 people coming to the open house, I was ecstatic.
They were going to actually drive like an hour. One lady was driving an hour and a half from outside Phoenix and so anyway, two people show up. What one lady was all chit chatty like I am. And then the one man acted like it was painful that I was even talking to him. And so I had to really dial it down.
So anyway, I talked with both of them. The house sold within 30 minutes under 30 minutes actually to the chit chatty lady and-
Cody Hofhine: And what did you originally put the home under contract for?
Melodee Lucido: So I was willing to be flexible because of the man’s illness and his situation. And I told him I will make money. I mean I explained it really well to him. It step by step by step how it would work.
And so I think we put it under contract for like a hundred… It was about a $100,000 and then if someone bought it for cash, he said he would go down to like $90,000. So I thought this thing will be a piece of cake to do rent-to-own on and it would have. But this lady, an artist, she just fell in love with the home. She goes, is this a perfect place for me to do my art. And so she said, “Well, I don’t want to do the rent-to-own.” She goes, I’d rather just give you all cash.
I was sitting there and I was like, wow. She said, “So do you have the forms or do we have to go to a title company…” And all this stuff. She didn’t want to deal with any banks. She didn’t want to go through escrow. She said, I have a bag of gold coins. Can I pay you for the house with that?
Cody Hofhine: Holy smokes. This is like way outside the box. I’ve never even heard anyone do this.
Melodee Lucido: I never had heard such a thing. I was just like-
Cody Hofhine: Is this like the queen of England coming in like, I’ve gotten bag of coins and here we go.
Melodee Lucido: I know. I know. And she was like, you wouldn’t want to do that, would do. And I said, well, you know, I just got to check and see and I said-
Cody Hofhine: I think I can’t, but money’s money. I end up [inaudible 00:08:08] pretty cool.
Melodee Lucido: But we just did a quick claim deed. That was what worked for the seller and it worked for her. She did not want to pay escrow fees or anything like that. And so anyway, I walked away with $45,000 for a half an hour. Well, I mean that’s not really true. Half an hour-
Cody Hofhine: Yeah, I was going to say, you built relationship for years or seven months and planted flowers and did everything. But wait, hold on. So you know what’s coming. Hold on, hold on, hold on.
Holy cow. So hold on cause you broke that out pretty quick. So now I’ve got to hurry process this again. You have this under contract, it’s flexible if there’s cash. So about $90,000 and then is that what you did? You end up selling for $135 to this individual?
Melodee Lucido: The seller liked the buyer very, very much. So they settled in the middle at about a $100,000 I think it was like a couple of bucks shy of $100,000. That was a good price for that house in that neighborhood.
Cody Hofhine: And then you ended up making… Did you say $4,500 or $45,000?
Melodee Lucido: $45,000.
Cody Hofhine: $45,000.
Melodee Lucido: And the seller was perfectly happy. I mean, he was just… He knew what I was making and he said, I don’t mind. He says, this is how much I need go Florida. So I think he left with like about $60,000 and I made $45 after it was all done.
And I just hesitate when I share this because when the beginners hear this story and I’m really sensitive about this, beginners think, well, I should be able to do what Melody did. But you know, that’s not an everyday occurrence.
Cody Hofhine: No, it’s not. You’re bringing up a great point that is that this is a great deal, but does it happen every deal? No. Right?
Melodee Lucido: No, no, no. You know, I mean normally I make somewhere around $5- $10 on most of them. But shoot, I did one last week. It was an emergency sale and I just had to get it done real quick. And I think I made like $1,750.
I don’t want beginners to think, Oh well, you know, when I joined the tribe, I’m going to start making $45,000 in half an hour, you know?
Cody Hofhine: No, but that’s so true. But here’s the other thing is… Here’s the phrase I like so that it keeps them hopeful is, it doesn’t happen often, but it happens often enough. And that’s the whole thing is you’re going to get the $1,700 deal.
Like you said, you might get the $5,000 deal, the $10,000 deal, and then every now and again you go and play baseball. You’re going to hit some singles, you’re going to hit some doubles, and every now and again you’re going to hit a home run and maybe get one that gets you, like you said, the $45,000 but it’s not typical to hit a home run every at bat. It just doesn’t work that way.
Melodee Lucido: Right, right. And I’m kind of sensitive about that in the forums. And the first thing I ever remember hearing from Tom was like fail your way to success.
Cody Hofhine: Yeah. Fail your way forward.
Melodee Lucido: Fail your way forward. Well that was a completely foreign thought to me because you know I’m still a recovering perfectionist.
Cody Hofhine: It seems like a big, a lot of people attribute like even like the progress not perfection mindset.
Melodee Lucido: Right, that’s what I love and I do carry that in my heart now, to this day.
Cody Hofhine: So tell me this though, Melody. Like you do have a mindset where you adopt new things and I know some of the things that you do and part of your who you are is reading and always like getting better yourself.
If you were to give a book, a helpful book, that would change people’s lives or listeners lives, what book would you say is a good recommendation?
Melodee Lucido: Well there are several that I love with all my heart and I keep going back reading, but I really have to say my all time favorite of the last couple of years is Go-Giver.
Cody Hofhine: Oh, such a good book, The Go-Giver.
Melodee Lucido: You guys have probably heard [crosstalk 00:12:16] I’ve read it three times since you taught, Cody.
Cody Hofhine: So here’s the thing-
Melodee Lucido: And I still get a little choked up about it because it really hits the heart of life.
Cody Hofhine: Yes. And don’t you remember Brent Daniel speaking so perfect on this and he’s been interviewed on our podcast and he talked in our podcast that he reads it once a week.
Melodee Lucido: That blows my mind.
Cody Hofhine: I mean that is how powerful that book is. So The Go-Giver. Listeners, if you have not read The Go-Giver, get on Amazon or go to Barnes and Noble today and order that book. That book is going to be one that you will read, you’ll highlight, you’ll reread, and you’ll have to buy a new book because it gets so used.
Melodee Lucido: Well, I have it in paper back that I read in the morning as part of my morning preparation for the day. And then I also have it on audio. So if I’m driving out to look at a property or something, I can be listening to as well as our podcasts and stuff like that.
But that set me free, learning that it wasn’t a bad thing to fail. People are afraid of failing. I talked to a lot of beginners and they’re all like, “I’m not there yet.” And I’m like, “Yeah, see that word yet that you just used there?”
So put a big “Yet” on the fridge. Put a big “Yet” next week where you brush your teeth in the morning. Put a big “Yet” on your nightstand because it totally changes the brain chemistry.
If you say, “Well, I haven’t made $100,000 in a year,” your mindset says one thing when you go, “Well, I’m just not one of those people that makes $100,000.” It makes me feel kind of crummy.
But then if you say, “I haven’t made $100,000 a year yet,” it opens up the brain.
Cody Hofhine: I love it. Now think of this, Melodee. If you were to look back and start all over scratch, we have a lot of listeners that are new to wholesaling, that have never done a deal.
If you are going back to day one, what would be your one piece of advice, if you could narrow it to one thing, what would that one thing be that you would tell them?
Melodee Lucido: Well this is a surprise to say because I never had a coach and there weren’t any good coaches back then. Kind of had to buy these horses or… I just think the one piece of advice that I would give would be immerse yourself in a coaching program.
It’s a very personal thing and when I saw Tom, just some little clip on YouTube or I don’t even remember where I saw him just doing this little one minute deal on wholesaling. It was brand new. I was looking at him and I was like, what is this brash and enthusiastic young man. I have got to-
Cody Hofhine: That keeps yelling, “Bam!” Every second.
Melodee Lucido: I know. And he was just… I mean he was so brand new and… He had already gotten past the a lot of the jitters. It was already on his way to [inaudible 00:15:20]. I just put in for it to everybody get a coach, a program and don’t just watch the modules and read the material.
Do it. Just don’t go any further than today’s lesson and do what you’re supposed to do. And people don’t take that so seriously. I talked to a lot of beginners and they don’t have the money to come into the Tribe yet, so I kind of walk them through some of the basic stuff that they can do for free so that they can get a deal so that they can get Tom and Cody’s wonderful Rhino Tribe [crosstalk 00:16:02] and that’s just something that is just a complication that I like to bring because there are a lot of people that might change the legacy of their family.
Cody Hofhine: I love it, I love it.
Melodee Lucido: I would say get a coach and for the students that are already in the program, don’t give up. Just keep watching the modules, keep talking, get people reaching out. I love it when people reach out and say, can we talk?
Cody Hofhine: The gift of gab is ready to talk. I love it. You always do and I love that. I love that you’re… Not only when you just read The Go-Giver, you truly are a go-giver. And that I know the Tribe feels that as well.
They feel like they can always connect with you, which is powerful. Time is limited, but you seem to always find time for individuals, which I think is a huge characteristic of just who you are. So that’s awesome stuff.
Melodee Lucido: I didn’t know that you knew that, Cody.
Cody Hofhine: Well, I definitely, definitely want to thank you for being on our podcast today. I know you’re busy. I know you talked to a lot of people. I know you work hard and you take massive action and you go out there and you’re wholesaling, you’re talking, you’re moving and shaking. You’re doing good things daily. So thank you so much for joining us today.
Melodee Lucido: You are so welcome. Thank you. It’s been my honor.
Cody Hofhine: Absolutely. You know we love you and continue watching your success. We’re excited to continue to watch you succeed in this. This has been an awesome journey watching you. And so, you know we’ve got you always in our hearts and minds cause we love Melody Luisito. So thank you so much for joining us.
Melodee Lucido: Thank you. Cody, Cody, one more thing. Tell everybody… I just want everybody to know that if there’s any way on heaven and earth that you can get to the events. The rhino events, the week was in Utah. I didn’t know until three days before the event that I was going to be able to make it because of the physical stuff that I was working with.
And I would just say to every student everywhere, if you have any chance, get to those events because even after six years, that event changed my business and I had come back like a hundred times more powerful.
Cody Hofhine: That is awesome. That is awesome. Well, Thank you-
Melodee Lucido: I love you guys.
Cody Hofhine: Huge tribute coming from you. So thank you. Thank you. Thank you.
Melodee Lucido: I love you both.
Cody Hofhine: Well, we sure love you. Guys, Rhino nation, Melodee Lucido is a rock star and you can do this. If you listen to this podcast over and over-
Melodee Lucido: You can do this!
Cody Hofhine: That’s right. You can pull gold nuggets out of this podcast over and over again. She’s a wonderful, wonderful example of someone that builds relationships, that goes out there and has a business built on integrity and she truly just serves people.
Whether she is the option or not. And you heard this in the podcast, whether she’s the option or not, she will continue to talk to these individuals. She’s not a two minute person phone call. You heard that. She is all about making sure that she’s doing everything she can to help this individual regardless if she’s the option. And that’s something key.
So remember those things as you’re getting… As you’re early in wholesaling, remember it’s all about the service, it’s all about the integrity, it’s all about the relationship. And the byproduct is, is if you have those characteristics, you will be able to put homes under contract and that is just the name of the game.
So thank you so much listeners for joining us. Melodee. Thank you so much.
Melodee Lucido: Yay. Thank you.
Cody Hofhine: You’re very welcome.
Melodee Lucido: I got to go buy a house now, guys. I really do. I’m on my way out the door.
Cody Hofhine: I love it. So listeners-
Melodee Lucido: I love you all.
Cody Hofhine: Thank you. Thank you.
And listeners, if you want to learn more about wholesaling, please go over to wholesalinginc.com. Wholesaling i-n-c .com and get on our email list. We email out tips, tricks, and golden nuggets all the time. They help you in your wholesaling business and if you need a little extra push, a little extra kick to start off your… I shouldn’t say start off, we’re about halfway through, but to get you 2017 wholesaling business rocking and rolling, book a call with our team, do a strategy call and see if you’re a good fit for the Tribe.
Until next time, guys. Take care and see you later.