A successful partnership is one of the best ways to break into the real estate world. In addition, it is an excellent idea for those who may have some gaps in their real estate knowledge and are still navigating the whole experience. A good partnership can easily be the one thing new investors need to get started on the right foot. With that being said, partnerships revolve around an equilibrium, allowing both parties to divide and conquer responsibilities.
In this episode, we are joined with guests Michael Acevedo and Ty, as they will ponder their insights on effective partnership structures, transparent communication, and generating leads to close first-rate deals. From searching opportunities to making it as signed agreements. They also make their way across how they made $92,000 in profits together in just a single month!
Want to know more? Tune in to today’s podcast.
Partnerships – How the Perfect Partnership Led to $92,000 in Profits in a Single Month! With Michael Acevedo And Ty
I am telling you this with full certainty, if I can do this business, so can you. Let’s get started. When we start down the path of being wanting, it starts with the desire and the decision to become a real estate entrepreneur and a real estate investor. It’s changing the landscape of our schedule, our lives and the course of where our families go, and the people that are surrounding us.
What it starts with is the belief that you can do this, the faith that you can go out there and make an impact in your community, and do that with real estate. What it first starts with is finding an opportunity and finding a property owner that has a problem. Somebody that has some stress with their property and having a conversation with them. That conversation comes in many different forms or many different sources. You could get that from them calling you through marketing. You could get that by a referral from a real estate agent, a friend or family. You can go out there and be proactive. Either you go and knock on somebody’s door or pick up the phone and call these distressed property owners.
From that opportunity, we turn that into an actual signed agreement. From there, we can start the different exit strategies that we have in front of us. There are three different options. You can buy this property and hold it in your portfolio, you can buy and flip this property, or you can wholesale this. You can assign this to a cash buyer that’s going to pay you a fee to be able to have that opportunity, instead of you taking that opportunity. That’s what wholesaling is.
The two guys that I’m going to introduce to the Rhino Tribe and the show are incredible. They are out of Atlanta. The reason I go through this long introduction is once we start getting these deals, closing them and start getting income, and we get to the point where we’re closing enough to where it replaces the income that we get from our current profession or job, that’s when the exciting things happen. That’s what’s happened already for one of these partners and is about to happen to the second partner. It is my pleasure to bring to the show from Atlanta, Georgia, Michael Acevedo and Ty The Investor. Welcome to the show. I’m excited to share your story. Say hello to everybody.
How are you doing?
Thanks for having us, Brent. I appreciate it.
I want to start this off with exciting news. I’m going to bell ring this early on here, Ty. You’ve got some exciting news to share about what’s happening. There’s something significant in your life that is happening because of your efforts that we’re going to talk about in this episode. Why don’t you explain what’s happening?
For the past seven years, I was a logistics freight broker for a trucking company. Because of Wholesaling and learning from the TTP family, it will be officially my last day and I’ll be going full-time in real estate.
I can’t tell you how happy that makes me feel. Not only that, I didn’t even mention that they closed $92,000 in October. That’s what set this whole situation up where Ty can now go full time. Michael, you’ve been going full-time. You’re a former Navy and got out in March of 2020 during the craziest time in history, and you get right into real estate. How does that happen?
Being in the Navy, you’ll learn that you don’t want another boss after that. I jumped right into real estate and searched up on BiggerPockets to find out how I can buy properties sooner. That’s when I jumped into Wholesaling Inc. and started listening to their podcast like it was a ritual every single day. I was listening to at least two of your videos every single day, and that was teaching me so much.
From there, in March when I left, I said, “I’m going to door dash and I’m going to jump right into wholesaling real estate.” That’s essentially what I did. It got us to where we are now and I joined what I call a mentorship hack. I joined a wholesaling group that was already successful. That jump-started a lot of stuff for me because essentially, I skipped a lot of the bad parts that you can come across in wholesaling as far as mistakes that you make. I was able to see the mistakes that they were making or see good things that they were doing, and implement that into our company. That helped us.
A great point that you’re making there is you decided, “Instead of trying to figure this thing out, read and go to the BiggerPockets, the podcast and the YouTube channels, I got to see what this action is about. I got to get back into the kitchen. I see the sandwich but I got to go see how they made this type of thing.” You went back and you got into a successful wholesaling business as an acquisition manager.
The beautiful thing there is you start learning. When we start in this, the toughest part and the thing that holds us back is when I’m talking to this property owner, how do I know if this is a deal or not? Is it a deal or no deal? You’re getting first-hand experience. You get people that have done a lot of deals, have wholesaled a lot of property, and they’re saying, “This is what you want to look for. These are the price points that work. This is how much we can make on these things.” You’re a sponge and taking it all in.
That’s what happened. I was only there for about two months and I soaked in all that information. That’s when I met Ty. He had a whole database and his VA was pushing over leads into that database. The deal that we made before we wanted to become partners was, “Let’s make money together first. Let’s do a deal together before we go ahead and secure that partnership. Let’s see how we work together.” Essentially, I went into his database from the knowledge that I knew from the other company and we closed our first JV deal in July. It was an $8,000 deal but it was all virtual. We did not see the property or meet the owner, and it was great.
You were in Atlanta. Where was this deal at?
It was in Georgia as well but Macon. It was about two hours from Atlanta.
Ty, the reason he found you is because you were being loud on social media. You were telling people what you were doing. That’s how you and Michael connected. He found you and checked out what you’re doing and the way that you’re communicating on social media. He’s like, “This seems like somebody similar to me. I like the energy that he’s putting out.” You guys connected, split the first deal, and made $8,000 together, and then you guys were like, “Let’s blow this thing up.” What did you see on social media from Ty that drew you to him as somebody that you want to connect with and at least squat up with?
When you think about real estate, it’s one of those things that you can’t create more of it. There’s only a certain amount of land in the world to have.
What I liked about him was he was transparent. He had deals that he had signed before and got them under contract, but he wasn’t the type of person to say, “This deal is closed.” He would let the audience know like, “Cancelled deal. Terminated.” That transparency grew on to me and that’s when I reached out to him. I was still in Virginia at the time. I was stationed there in the Navy. I reached out to him and I was like, “I like what you’re doing. You’re at the same level that I’m in right now looking for my first deal,” and he was, essentially. That clicked us.
From July on, we were always talking. When I finally moved to Atlanta, that’s when we went ahead and connected. I was still working for the other wholesaling company but at the same time, we would talk to each other on the phone every day. I’m over here letting all the information go of what I’m learning every day to him. From there we grew together and saw that our minds think alike, and that we work best together. That’s what started the partnership. It wasn’t even the first deal that essentially made it. We didn’t start the partnership until after three deals. After that, it was another $17,000 deal and then another deal after that. That’s when we made it official and was like, “We got to make it a partnership.” We work great together. We’re making money together, and the most important is we’re helping sellers.
Ty, we get into wholesaling so that we can learn how to find discounted properties, then turn that into opportunities for our cash buyers. We get income and then we use that income to buy assets so that we can get passive cashflow. How did you find real estate? Why real estate? Why not something else? Why not anything else? Real estate is a small niche. There are 19 million real estate investors in the country but most of those are people that own a second house, a rental or something like that. Why devote the bulk of your time and energy to real estate?
When you think about real estate, it’s one of those things that you can’t create more of it. There’s only a certain amount of land in the world to have. When you start studying people who are wealthy, have millions and millions of dollars and assets, most of their assets are in real estate. When you start studying that thing that brought me to thinking that real estate is the way to wealth. It is the key to wealth. It’s the road that we can take to get there. When you start digging deeper a little bit more, trying to figure out ways to get into it without having to spend a lot of your money upfront, then it starts making more sense and starts clicking. From there, I was like, “This is it. This is my road and my path. I’m jumping on this and this is how we’re going to figure it out.”
It’s the absolute truth. This is how we build wealth. Not only that but it’s true. It’s one of those things that there’s a limited supply. We’re in a beautiful time right now where the inventory is low and the demand is high to find these discounted properties. You are averaging $18,000 a deal. It’s phenomenal that you guys jumped in now. We’ve got another ten years of this projected. I see incredible things going for you. Talk to me about your dynamic. How do you work together? How do you not step on each other’s toes or overlap each other too much? How do you build an efficient machine as partners?
Our communication is 100% transparent. Anything that we’re doing, any move that we’re making, any decision that needs to be made is discussed before. That comes down to making offers to sellers, evaluating properties, doing deal analysis, and things like that. Every move that we make, we communicate it and it’s fully transparent. That is the main thing and we’re 100% honest with each other. That’s how we work together. That’s how it makes sense and works out. We put trust in one another to make sure that we’re going to get the job done. At the end of the day, that’s what it’s all about. I trust him to close a deal, block the property up, put it under contract, and vice versa. He trusts me to do the same thing. When it comes to numbers we collaborate on a number that makes sense, and then we go from there. It’s been working for us.
Michael, how are you guys generating opportunities? How are you finding your leads?
We’re finding our leads to the best marketing which is TTP, Talking To People. We’re cold calling out there. Once it comes in from our cold calling into our CRM system, that’s when we go ahead and do the acquisitions part of that. Essentially, it’s calling people every single day, talking to people, starting conversations, getting to know what it is they need help with. From there, it moves down to dispositions, and then transaction coordination.
What helped us move along easily and work together well is we don’t have big egos. A lot of the time there’s something Ty would say and I would have an opposite thought, but I would go with Ty’s start instead and be like, “I like that better.” Rather than saying, “My thought was better. My plan is better.” Putting that ego to the side and understanding what your partner is saying, taking that into consideration and move forward is a big part too. You don’t want to have a big ego in partnerships.
Especially when your partner here had that seven years of freight brokering. If you want to see high-pace, a lot of communication and nonstop action, it is in freight. It’s bananas and crazy. I bet going into wholesaling, you’re like, “This is nothing. This is a breeze. I could do this all day long.” Michael, that’s a smart move. If it was me, I’d be listening to him too. I want to break this down a little bit because I’m sure people are having questions. You mentioned that you have VAs making your calls. Where do you get your VA?
We currently get our VAs from the Philippines. Ty is more in the operations for the virtual assistants. He uses a Facebook group and that’s where we put a post-up. They started applying but one trick that we do is we like to put something in that post saying, “Send an email, a video and a paragraph explaining yourself or your favorite color,” just to make sure how much they pay attention to detail. That’s the first elimination right there if they don’t do that. That’s pretty much where we’re getting them from. It’s a Facebook group called Real Estate Virtual Assistants, REVA. You search it there, put a post up on there, and you’ll have millions of virtual assistants applying.
I talked to the owner of REVA. Something big is coming down the line for Wholesaling Inc. It’s going to be great. Ty, you get a lot of different people wanting this job, what are you paying and how do you select the right color?
When it comes to paying, we’re fully transparent. On our Facebook posts, we put a range of what our budget is and what we’re looking to pay. Typically, that’s anywhere between $4 to $7 per hour.
We have that elimination process. The first elimination is seeing if they’re paying attention to detail. If they’re not paying attention to detail, the next elimination process is seeing their accent. We don’t want a heavy accent. We’re seeing how much of a good American accent they can have. From there, that’s when we go ahead and choose more eliminations. We get them on an interview and we go through a series of questions, and then we also do a roleplay.
The roleplay helps a lot in the end. It lets you realize where they’re at as far as skillsets. That helped us a lot with the roleplay. A lot of people asked me where we get our virtual assistants. If I were to say one thing, it is training. The virtual assistants are not going to come completely trained. They’re going to make mistakes like we did when we first started. Training is important. We do one every week. That’s what set us apart and has our virtual assistants doing a lot more work than other teams that have 20 or even 30 virtual assistants.
That’s the important thing. People set it and forget it with their virtual assistants. They aren’t continuously talking to them, working with them, and showing them what’s going on with all of their efforts, that it’s going somewhere and means something. They’re impacting the community and helping people’s lives. You need to tell them. They are part of your team.
Because they’re half the world away, you can’t just ignore them and hope that they send in leads. You got to be talking to them all the time. They got to be on whatever, whether you’re using a Slack channel, Skype, WhatsApp or whatever it is. Make sure that you’re over-communicating with your virtual assistants that are making your calls because you will make them better and they will feel more secure. The more secure that they feel that they don’t have to get a new job tomorrow, the more they’re going to work for you. That’s awesome. The other thing that you mentioned is the CRM. Once your VAs make the calls and get the leads, what CRM are you using to put them into?
We upgraded our CRM to InvestorFuse. We were using Podio before and I’m a tech-savvy guy. I did a couple of things with the Globiflow on Podio for automation. We went ahead and did a demo with InvestorFuse. The CRM changed the game as far as drip campaigns. If we’re not able to get in contact with the seller, we put them in a drip campaign, and now it’s automated. As far as reaching them, CRM is definitely important.
Business partners must be 100% honest with each other. At the end of the day, trust is what matters most.
I used InvestorFuse for years. How many leads do you think that you’re following up with that are active in your CRM?
Are you’re saying on a monthly basis?
In our database, we probably have around 300.
If you don’t have 100 leads that you are following up with, you do not need a CRM. You are going to get buried in it and it’s going to be a huge distraction. Wait until you get 100 leads, then get a CRM. I don’t want any excuses that you’re not doing it because you’re setting up your CRM. Don’t do it. Get some deals coming in, and then get a CRM. You don’t have to start off the bat with a CRM. You just have to make sure that you’re following up with leads. A little side notes there, but it’s perfect. With 300 leads, you need something that’s going to organize it. You can’t just have slips of paper everywhere. You have to have tasks set up so that you are hitting those tasks and you’re getting a hold of all those people.
For anybody that has never heard these acronyms, I apologize. VA stands for Virtual Assistant. CRM stands for Contact Relationship Manager. Those are some of the acronyms. Basically, it’s the database for cold callers or phone prospectors. Let’s break down a deal. Let’s get into the nitty-gritty here. Michael, what’s the biggest deal or that $92,000 that you closed in October?
That was one of the biggest deals that we closed. It was $40,000 gross.
Don’t give us the candy yet. Tease us along a little bit. What list did you use? How did you find it? How long did it take? Let’s break down all these things.
We reverse-engineered. We went with what our buyers were looking for as far as criteria, what properties they’re looking for and where they’re looking. That’s where we went ahead with that. Our list is broad. It’s not specific like code violation. As long as it was built in the 1950s and over, 1,000 square feet and up, and also less than 2 acres. As you can see, it was broad. It wasn’t like a specific code violation or a probate list that we went after.
Partnership Structures: If you are not following up on a hundred leads, you do not need a CRM. It will get buried and become a huge distraction.
Your prospect, call them up and got the lead. What was the condition of this property?
We deal with a lot of different conditions. The one with the largest deal was almost in retail condition. It needed cosmetics. There wasn’t much that needed to be done to the property besides maybe some paints and flooring.
That was in Atlanta?
It was a nice deal there. The market going bananas as it is in Atlanta and the lack of inventory. They probably could easily put it on the MLS. Why didn’t they?
One reason was it was tenant-occupied. Selling a tenant-occupied property on the MLS is difficult. Only investors are going to be looking at that. Most likely they’re going to offer you less than what it’s listed on the MLS for. What also sets us apart on this deal was this deal came from a referral. It came from a referral of a lead that we closed on before. He referred her over to us and that’s how we were able to go ahead and assist her in selling her home. It was awesome.
That’s what happens when you build good relationships with the people that you’re doing business with. If you’re communicating with them, staying in front of them, and holding their hand through the finish line, all of a sudden, you’re their trusted adviser when it comes to real estate, “I need to get rid of a house real quick. He’s not a realtor. This is the buyer and the person that’s going to take care of everything.” All of a sudden, you’re going to start getting referrals all over the place. Too many people think that it’s transactional. It’s relationship-based. You want to get some free opportunities. The marketing costs in this deal are nothing.
That’s an important thing that you’re saying and we’ve added that client retention. Ty can touch upon that because he’s the one who deep-dive into that.
Client retention is something I thought about. I offer that deal. A lot of people know people who may be looking to sell properties even though you close on the property two months ago, that doesn’t necessarily mean that that relationship is done there. We put something in our system where we follow up with these close deals over a period of time where we send an automatic text message to say, “We’re still looking to buy. Do you have any other properties? Do you know anyone that’s looking to sell?” You can get deals off of that because that’s how that deal came across. We got that in our system so we can get more deals.
Putting ego aside and understanding your partner is a big part of moving forward. You do not want to have a big ego in partnerships.
What do you lock it up for? What do you sell it for?
We locked it up for $225,000 and we ended up selling it for $265,000.
To put this in perspective, let me give you some stats here. To be in the top 10% of income earners in the world, you have to make $201,000 a year. The top 5% is $273,000 and the top 1% is $504,000. You did one deal. You had a conversation from a referral that you’re going to keep all of those profits and made $40,000. That is incredible. What did that feel like when you guys saw that wire hit your account? First of all, did you get a wire cashier’s check?
That hits the account and you see it in there, how’s that feel?
Let’s get another one.
That’s it. It expands your mind and then you’re like, “Let’s get another one. Let’s start getting bigger deals. Let’s make something special happen here.” Congratulations, guys. What an incredible deal especially coming from a referral. A lot of people sleep getting referrals. A lot of people think you either get it from marketing or being proactive and cold calling. If you keep in touch with the people you’ve already served like what Ty is talking about here, you’re going to get those opportunities. You should get them at least once every 90 days, if not more, depending. As you do more business, you get more referrals. We do an incredible amount of business from referrals. If people want to meet you and they want to be around you in Atlanta, they want to squat up or tell you congratulations, is the Instagram handle the best way to reach out like just DM you guys?
Instagram is the best way. I’m @_Michael.Acevedo and @Ty_TheInvestor. Reach us there.
Reach out and be around these guys. The momentum is behind these guys. The wind is at their backs. They are flying. You are at that eleven deals over $200,000 and building. What’s the big vision? What’s the big goal? At the end of these conversations and interviews, I love hearing about the big vision. What’s the big goal? Is it owning a lot of real estates, being a developer or opening up a bank? What do you guys see as the big goal?
Cashflow, Brent. We want to buy apartment units. Our goals in 2022 are two apartment complexes. I’m looking at about 100 units. We already have a little plan in place to get that. The goal is to utilize the capital that we gained from wholesaling and invest that into acquiring those assets that you brought up earlier such as the apartment unit so we can get that residual monthly passive income. That’s how we create that wealth right there and buy your time back.
That’s 100 units in 2022. I have all the confidence that you will do it. Thank you for being on here. Any final words? Talk to everybody that’s getting started, and give them some advice on what they should do to get their first deals.
First things first is listen to the Wholesaling Inc. podcast, learn the TTP script, join the Rhino gang if you need to because everybody’s going to help out. Don’t quit. There are going to be some tough times. It’s going to be hard. You’re going to get a lot of noes, but know that there’s a deal out there with your name on it. You got to stay focused, stay committed, be intentional about every move that you make and get this thing done. I was able to quit my job or resign from my job so you can too. Stay locked in and stay committed, and you’ll be able to get it done.
Ty explained your logo. It looks great.
The name of the company is Property Jet Real Estate Solutions. It’s a hut with a jet in it. The reason behind that is we buy and sell properties as fast as a jet and that’s how we operate.
Michael, words of advice.
Keep being persistent and be aggressive in the follow-ups. When I first started I was unprofitable for a good 6,7, 8 months. I just keep diving into wholesaling. I even had a contract signed. One thing I didn’t do was be aggressive with follow-up. Be aggressive with follow up and call them 1, 2, 3 or 4 times a day, it doesn’t necessarily matter. If they’re not answering, it’s because they’re not ready yet, but they will answer when they are ready. I’ve called plenty of people twenty times in one day and next week ends up answering and it’s a deal. Be aggressive with the follow-up. That is something I didn’t fully understand when I was first starting. I understand that follow up, but I didn’t understand being aggressive and calling 2, 3, 4, 5 times a day that same person. Be persistent and aggressive with follow-up.
Thank you for your service to this country. It’s much appreciated and you guys are incredible. I’m happy to have shared your story and to share this show with you. If you’re interested in joining the most proactive group in real estate investing, it is the TTP coaching program. It is the TTP family. Go to WholesalingInc.com/ttp. That’s it for us. As always, I encourage you to talk to people. Until next time. I love you, guys.
- Real Estate Virtual Assistants – Facebook group
- @Ty_TheInvestor – Instagram
- Property Jet Real Estate Solutions
- Be sure to join the Wholesaling Inc Facebook group
About Brent Daniels
Brent 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!