Posted on: November 17, 2021
WI 821 | Wholesaling Business

 

Have you ever wondered what goes through someone’s mind when they make the transition from being in the military to becoming a real estate entrepreneur? You might have asked what was the hardest thing one had to learn before they decide to own a business?

In this episode, Brent Bowers joins Chris and shares his journey creating passive income in land while serving in the military, and how he put his best foot forward with wholesaling to live the best life possible, never being apart from his family again.

Steamrolling the Competition by Eliminating the Single Biggest Expense in Your Wholesaling Business

Episode Transcription

Welcome to the show. I am so excited to have my friend, your friend, the man, the myth, and the Land Shark himself, Brent Bowers is here with us. Brent and I spent some time together at a mastermind with some of the top real estate minds in the country, but more important than that, Vanilla Ice was there. I don’t know why that makes me so happy, but it does.

We were able to talk together and it was so fun to know some of the ways that he has been able to find the synergy between the REI Revive Program, The Land Sharks Program, and doing what he is doing, he can bring in a ton of money from deals that he can’t do doing things with on the land side. With that said, I’m excited to talk with him in this episode.

Brent, for those that don’t know who you are, which is very few here in this community, tell us a little bit about yourself, and then let’s dive in.

Thanks for having me. This is a blast. I’m excited to share what you and REI Revive have done for me, my business, and my team. It has exploded with very little effort on my part, which I love. I’m a visionary, and so are you. I love coming up with a vision and then seeing my team run with it. I have got several stories on why this is working well for us, but a little bit about me. I bought my first rental in 2007. I have been in the real estate game for a little while. Also, I was in the military and looking for a way out.

I was in the military for about eight and a half years, and I was ready to be home more often. Out of those eight and a half years, I probably only slept in my bed for about four of those years. I didn’t get to see my wife and children very often. When we had that first baby, it was time for me to roll out, so I built a passive income business with land.

It is super simple. I buy land at crazy discounts, turn around and sell it for a profit. I prefer to owner-finance these things so I can get monthly payments. That is it and that is what my students are doing. They are having wild success with this. It has been a great run working with Wholesaling Inc and guys like you.

The people you run with will dictate your future. For anybody that reads this, if you look around and you do not have a pack, a tribe, or a group that you are running with, you can talk to, make you think bigger, and makes your heart come alive when you hear them, you need to start looking for people that will do that for you.

I was hanging with some smart folks. It was great because it helped me re-energize. Anybody that knows me knows I’m a pretty energized guy. To get re-energized was fun. I do love the synergy in what you do and what I do and how you can get to a point to zero-base your marketing. Tell us a little bit about what you have put into place to begin to zero-base or pay for some of the marketing so that you can scale and grow your business at a higher level.

The people you run your business with will definitely dictate your future.

I have a house buying company too. We wholesale and flip houses. Our baby is land. We love land, but here is the thing. A lot of land sellers have houses for sale, so I love to integrate these things together. I use the same systems, the same dialer, and the same mail house. Everything is the same. It is as easy to mail the land, the houses, or both. I have two acquisitions managers and they are both trained to buy land and houses alike.

We noticed that we had a lot of leads that were going nowhere because, let’s face it, 99 out of 100 are not going to want our discounted offer. They are not going to need our speed and convenience when they can go and list that thing on the MLS with a realtor. That realtor can throw it on the MLS and they can get multiple offers, so we know when we are talking to someone that is wanting a big bag of money or retail, it is better off them to go that route.

We introduce them to our realtor partner and we call him our partner. We are like, “His name is Dan. He is going to take the best care of you. I want to set you guys up for a time. What works? Tomorrow at 2:00 PM or Thursday at 3:00 PM?” We schedule it for Dan, he shows up and gives them all the tools in his tool bag. If he gets that listing, we share on profits.

I want to do a disclaimer. You got to run this by a real estate attorney and set this up the legal route, but the first one that we did with Dan was we made some money back that we would have never seen. We would have never been able to help the seller if it was not for our realtor partner that we brought in on it. Here is what’s cool too. Dan took us out to lunch one day. When I first got to meet him, my team helped me find this realtor partner, which was cool.

They invited me out to lunch because he wanted to meet me as well. I told him at that lunch, “If you come across any properties that you don’t want to list or your seller needs to get some money fast and they need convenience and speed, let me know. We will close that thing in 3 or 4 days.” I kid you not. The next day, he calls Chrissy, my acquisition manager, and he says, “Go to 123 Main Street. Meet them there at 7:00 AM.” Chrissy shows up at the house at 7:00 AM. We get this contract and make $60,000 from the realtor passing it our way. We split that with the realtor and we gave him 50% of it, but that was a $30,000 bump that cost us no money, and we got a free lunch out of it.

WI 821 | Wholesaling Business

Wholesaling Business: If you don’t have a pack, a tribe, or a group that you’re running with that you can talk to, make you think bigger, and make your heart come alive, you need to start looking for people that that will do that for you.

 

Here is the thing that I want everybody to understand. People do not get it. They think that it is just “pass it off to an agent,” but what they don’t get is it is a realtor partner if you think through what this means to scaling a business when you can keep what you make instead of taking $5,000, $10,000, $50,000 or $100,000 a month in marketing. I know you start small, like $1,000 to $100,000, and that is what scaling is as you grow it out. I remember the days when the marketing spend that I had was in that couple of thousand dollars a month, and that was scary to me. I look back and I’m surprised.

I was trying to level up. I told a friend of mine how much I spent a month on marketing, which was $2,500 a month early in my career. He is like, “We have probably spent $2,500 since we have been at lunch.” I was amazed they have a massive organization. That is the whole idea. You got to think with the end in mind. Where are you headed? If you can get all of your marketing paid for, you can grow your business to a point where it does not give you heartburn to double or triple your marketing.

The third thing is when you look at your partnerships, like what Brent is saying, that person can send you stuff and you send them stuff. This person will dictate how high you go. For me, with my retail business, the investor that I built this out with has become one of my best friends. I have made his business so much better and he has made my business so much better because we work together, and if it is anything other than that, you probably are missing the boat on that. I want to make sure that we get that.

I can’t tell you the power in this. I have not made a ton of money yet doing the REI Revive system. We made $30,000, then another $4,000, and I think we have got another $10,000 or $15,000 coming. I see this as free money. It is like God dropped a little bag of money for me out of the sky because if it was not for REI Revive, I never would have done this and talked to the real estate attorney. I would not have told my team, “We have got to find a realtor partner to start helping us,” and that is the key. The realtor partner, as you said, is on our team, and we want to know what they are saying to these sellers.

You got to think with the end in mind; where are you really headed?

I know you teach in your course exactly what to train this realtor to say. I can’t get over the fact that there are all these extra paychecks that we are getting that we never got before. I spend a lot of money on marketing too. Most people can’t even imagine what you and I spend on marketing, but it started with sitting in my basement writing letters with my wife after we put our baby to bed. I’m talking $50 a week, and that is on stamps. I did not even count the envelopes and the paper, but you start somewhere.

When people understand that this is the way you start, then all of a sudden, what happens? For you, I know you say, “I did not make that much money. It is only $30,000,” but I’m sure some folks are like, “That is awesome.”

When you say a word, you wish you could pull it back into your mouth. That was one of the words. I wish I would not have said that because that is a lot of money.

That is that whole thing where I want everybody to understand. Business is synergistic. They call it vertical integrations. It is where you can start looking at how they play together. I own a retail business, investing business, title company, and they all start to play together. Here is the thing that Brent gets because this is what he does. He has got his wholesaling business and his land business, and now, they can play nice together and help each other.

Mail houses, economies of scale, which means that when you do more business together, they will give you better rates, but then you add in the fact that you can bring in a realtor partner. If you really follow the process, that realtor partners are also going to bring you deals, and they are also going to monetize those deals that say no.

If twenty people raised their hand and say, “I want to sell,” let’s be honest, sixteen of them are going to want to sell at retail price. Four of them want to sell at a discount, and maybe, three of those are going to want to sell at a discount that is higher than the discount you want to pay, so what do you do? Somebody is getting paid. It is just not you. That is the cool thing seeing what Brent is doing here. He is finding a way to make sure that he is getting paid in all of the different avenues.

WI 821 | Wholesaling Business

Wholesaling Business: With realtor partners, business is synergistic. When you do more business together, they’ll give you better rates.

 

I’m at the very beginning of this. You started walking me through this the last time we were in Tampa. I know your course is powerful and this is what you walked me through. This is not me getting to dive into your modules and get on your calls. These are just little tips. I want to call them the stock tips that you have been giving me. I appreciate everything you have done for us, and my team does too.

That is awesome. When we sat down in Tampa and we were talking, I heard all of the different ways that following the program or the plan has benefited you and your team. I was like, “I would love the communities to see what that looks like synergistically,” because anybody that is bringing in leads needs to monetize those that are dead. As somebody who is very good and high-level at what you do and seeing how integrating this has been a game-changer for you all. I want to make sure everybody gets that.

It is just a little tweak. I would say as the business owner, I probably have two hours involved in this and that was going to that lunch, eating an awesome lunch, and meeting Dan Kibler’s team. That was it. I do have a team that has helped me with it, but this does not take a lot of time to implement, and I’m all for little tweaks that will pay me for a long time.

If anybody is looking for Land Sharks, go to the Wholesaling Inc page and check out Brent Bowers. I know you know him for sure. Check out how to buy and monetize land and then as an add-on to pay for your marketing spend, go to ChrisCraddock.com or WholesalingInc.com/Revive and click Apply. We will get on and confirm that you have enough leads and enough business coming in that it makes sense to monetize those leads for you.

It is not for everybody. It is for anybody that has leads coming in. As long as you have got that going on, we will dive into your business and make sure that this is a good fit for you. We will make sure that you can make a lot of money and scale your business a lot faster. Brent, thank you so much for being here with us in this episode. Everybody, go out there, kill it, and go live uncommonly. Be uncommon. I will see you.

 

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About Chris Craddock

A nationally certified Life Coach in Leadership and top 20 in all of Keller Williams Realty International, Chris Craddock is the host of the Uncommon Real Estate Podcast, a Realtor, and entrepreneur who runs multiple successful businesses in the Washington DC Metro area (and Richmond, VA). Chris and his companies consistently bring in over 5 Million in revenue year after year. His team, The Redux Group, sold just over $160 million in volume in 2020. Chris has been married for 20 years and is the proud father to six beautiful children.

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