Posted on: December 13, 2021
WI 839 | YouTube University

 

Buying and selling homes can be tricky for the most time. Real estate agents can be crucial in the buying and selling operations because they may have more insider knowledge than these websites can provide. Aside from that, being a functional real estate agent can be a rewarding job that is helpful to many buyers and sellers. However, when you are pondering on how to become a real estate agent, you may be confused about whether you should take classes or figure it out on your own. Often, real estate aspirants maximize free resources such as YouTube to gather the information that they need on how to start their businesses.

Get your engines started as James Coplin, the man who utilized YouTube University in building up his profession, walks us through his experiences. He also gives us first-hand tips on developing a career in the wholesaling world. Let your curiosity lead the way as we listen to today’s episode!

What to Do When You Get Stuck in Youtube University

Episode Transcription

In this episode, I’ve got James Coplin with me on the show. We are going to talk about James’ virtual journey from 2 deals to 10 deals total. We are going to talk about the complete virtual wholesaling transformation that he had since joining Wholesaling Inc and my coaching. I am super excited to introduce James. Welcome to the show. 

I appreciate it, Lauren. Thank you so much. I’m happy to be here.

We were talking about how you learn wholesaling from Wholesaling Inc. Now you are on the show.

I religiously followed Wholesaling Inc. It’s wild that I am on it now. It’s pretty crazy.

I am so excited to be a part of that journey. Take me back to religiously following Wholesaling Inc. How did you know about wholesaling?

When I was living in Denver, I was in grad school for Sports Psychology, which is a whole other thing. I was studying and trying to think, “What can I do outside of what I’m studying?” Real estate has always been interesting to me. My mom would always read Rich Dad Poor Dad. Real estate was always a thing that was in the back of my mind. I wanted to find out how I could get into real estate being a broke college student. I didn’t look more into it at that time but a year later, I randomly came across the Wholesaling Inc Podcast. I can’t even remember how I came across it. Brent Daniels was the first person I heard on it. Since then, I have listened to it every day.

How long ago was that?

That had to be 2018 when I started listening to it. It seemed daunting at the time. I would do a little bit and try to dip my toe into it. As we know, you can’t dip your toe into wholesaling and have any success at all. For the first couple of years, I played around with it but didn’t do anything. That’s how we came to this.

You went to college intending to do what?

I went to graduate school for Sports Psychology, which is a new field of psychology. A lot of people don’t know about it. My initial plans were, “I’m going to be a psychologist for a professional sports team or college sports team.” That was my thing. I still love sports, but I was trying to figure out how I could marry psychology and sport together. My original plan was all-in on Sports Psychology and see what happens. I graduated and got my degree, but it didn’t give me the freedom that I wanted. It’s a lot to listen to and absorb other people’s issues.

Did you have a job after college?

Give an offer to everybody and follow up. That’s the key for sure.

I did get a job but it wasn’t in the Sports Psychology realm. I was still in Psychology but I was working at a children’s hospital in the emergency room working with youth. That was my job after college. Even during college, that’s what I was doing. It was draining.

You then discovered wholesaling. Why did you decide to do wholesaling? Was it for the time freedom? You mentioned freedom. What was that about?

The main goal was freedom, but I also got into wholesaling more to lead me into other avenues of real estate, get into flipping, buy and hold, and things like that. That was my original plan when getting into wholesaling. How can I get in with no money or at least a little money, and how can I still learn about real estate while trying to build up money to get to where I want to go? Wholesaling was perfect for that.

I always say wholesaling is the gateway drug to real estate. It’s the first thing you get into if you have not been born into a real estate empire. Some people are lucky. They were born into families that owned a bunch of real estates and had help. I was lucky, I’ll admit. My dad had rental properties, but I wouldn’t say it was a real estate empire. I did have that mental support getting me into it. I didn’t have the money. I was still broke. When you were thinking of getting started and you were in this moment, it sounds like you were in YouTube University for a few years.

I was at YouTube University for a few years but I was still doing some things. At that time when I first started, I was cold calling. That’s how I started and ended up getting our first couple of deals.

Did you do all YouTube University for your first couple of deals or did you ever get into a coaching program?

It was all YouTube and Wholesaling Inc.

I like to dissect that a little bit. You picked up cold calling from watching a bunch of YouTube. What was stopping you from doing the volume you wanted to do? Can you take me back to that point?

For me, it was the consistency aspect of it. I started cold calling in 2019. I was still working at the hospital night shifts. When I would get off work, I would go to sleep. When I woke up, I didn’t want to do cold calls. I am a reserved person. I am pretty shy. I don’t want to talk too much. The whole cold calling thing was a task to even get myself up to do it. I went through that for a whole year and a half.

Was that in your mind, that that’s the only way to get deals?

WI 839 | YouTube University

No, I thought about other avenues like bandit signs, texting and direct mail, but cold calling was the cheapest way for me to get into it. That was the only thing I could afford to do besides going door-knocking. I didn’t feel comfortable doing door-knocking.

That’s is insane for me. What if that person has a gun? It is dangerous. Do you think a girl like me should be door-knocking? There are a lot of reasons I went virtual. One of the reasons I stopped going to seller meetings ever again was I went to a seller meeting in the person’s house. It happened to be a house in Orange County, so it was close to me. It was a complete drug den with drug dealers and prostitutes living in this house. They got in a fight while I was there. I was like, “I might die. This is scary.” I had no business ever walking into some stranger’s house by myself. I have kids. What if this went bad and guns were pulled out? What am I doing? Door knocking to me is the same thing. What if you knock on the wrong door?

Going back to what you said about personality, I get you for not liking cold calling. It’s not for everyone, and I’m here to say that it’s not the only way. It’s a very inexpensive way. If you have to do it for a little bit to get your first few deals to get that marketing budget, it’s fine. It’s not the only way and it doesn’t fit everybody’s personality. It doesn’t fit mine. I still hate talking to sellers. My team talks to the sellers. The first thing I wanted off my plate when I could afford to hire people was talking to sellers. What I love about being an entrepreneur is you can fire yourself from doing things you don’t want to do or are not good at.

I haven’t gotten to the point where I can find myself yet but I am looking forward to that day.

You’re YouTube University and doing cold calling even though you hate it. You did it and you were able to get some deals. That’s awesome. What brought you to the Virtual Investing Mastery group?

The first year that I was dipping in wholesaling, I was living in Denver at the time. I was trying to wholesale in Denver, which was rough. I got one contract in Denver. It didn’t work out. After that, I was like, “There has to be somewhere else that I could do this.” I didn’t know about your course at the time. Based on what I’m doing in Denver, I feel like this is doable somewhere else.

I didn’t know anyone talking about virtual wholesaling but I figured it was possible to do. That’s how I got into it. I was tired of trying to do things in Denver, knowing there are hundreds of big wholesale companies that had way more money and people than I or could do myself. That’s what brought me to do it virtually.

It’s funny that you talk about it in that way because I can bring myself back to when I didn’t even know anyone virtual wholesaling. All I knew was I would listen to these podcasts and people would say, “I started this year and closed 10 deals, and I got another 15 in the pipe.” I’m in California and I had closed one deal that year. I don’t have a strong pipeline. I’m like, “Why is this so much easier for everyone else?” I thought I was dumb at first. I thought it must be me.

I blamed it on myself for a while, and then I got into some coaching programs. I noticed one of the educators of the coaching program was California-based, and he started doing virtual deals. He started going to Florida and I was like, “What?” I ended up doing another seminar where I went to Nashville and sat in a room with people for two days. I was asking people detailed questions. I went around the room. These people were all in Midwest, East Coast, and Southern markets, where the average house price is well below $200,000.

I was the only one in Southern California where the average house price at the time was $600,000. It’s now $900,000. I asked everybody, “How many postcards do you have to mail to get a deal? How many offers do you have to make to get a deal?” It’s all way lower than me. I was like, “I’m working so much harder than you are.” I was so frustrated. When you start feeling that feeling, you need to start thinking about going virtual. It sounds harder but it is not. It sounds harder to you, but if you can get across that mental barrier, going virtual is going to be easier than in Denver. When you started thinking about going virtual, did you somehow stumble upon me?

Shortly after I decided to try virtual, that’s when you came into Wholesaling Inc as a mentor. At that point, I knew that I would have to get into your program eventually. I knew that I would have to. That was about a whole year before I joined the program. For the next year, I tried to do it on my own and figure some things out. Some things worked. We did a couple of deals but we needed some mentorship.

You stumble and fail for a little bit when you go virtual at first. I created some things, so you guys don’t have to go through what I went through. With every episode, I want to give real practical advice. Take yourself from that year when you did two virtual deals. You did some things right but you knew you were doing some things wrong, then you got some education. What was your biggest or first a-ha moment that helped you a lot?

It was the consistency of marketing. Before I joined your program, I was still cold calling. After I joined your program, I switched over to texting. I wasn’t consistent, and then I found a partner, Nick. We both tried to tackle cold calling and we both hated it. There would be some days where we planned, “I am going to cold call two hours this day.” After 30 minutes or an hour, it’s like, “I am ready to be done.”

Getting a virtual assistant would be extremely helpful to take care of a lot of the mundane things that you don’t feel like doing all the time.

We saw some contracts come in and nothing happened. It was the consistency that I have heard from other people and you. The texting and your whole guideline of how to market and follow-up was a major key for us to get more deals consistently. It was a mixture between being more consistent and switching from cold calling, which wasn’t our personality style, which helped a lot.

It’s okay to not like this. It was more suited for you because then you are not going to have so much resistance to doing it. It is having a consistent plan for lead generation that you can hold yourself accountable to. It’s the consistent amount of leads you are generating, tracking your KPIs, actions that you are doing to generate those leads every single day, and keeping track of your leads, offers, contracts and deals.

The other part that you were talking about is the sales funnel management. What does a lead sound like? I want to get into some real practical stuff so someone can learn something out of this. The biggest mistake I see people make is disqualifying leads too quickly, “He’s not that motivated. I am not going to call him back.”

That happened to us. The first few months after joining your program, we were not on top of everything like we should have been. Some leads came in that we were like, “He wants to have a price. Let’s throw them out.” We come back a few months later and he is pretty motivated to sell. You never know what a seller’s motivation is.

This is my rule. I don’t care how many pillars of motivation they have. Throw the pillars away. They need one pillar. They want to sell a house, or they expressed interest in selling. Every lead gets an offer, and every offer and lead gets a follow-up plan. There needs to be a regular follow-up sequence that this lead gets. Ten of those people that you said, “He’s not that motivated. He wants higher the price.” Let’s say you are going to get ten leads a week which sounds like that. Of those ten, there’s going to be the one poker facing you.

Poker-faced sellers are like, “I don’t need to sell that.” They act like nothing is wrong, then all of a sudden, they are like, “I’ll take that price.” What’s crazy too is when you get enough of those and get into the escrow more with them, you find out that the guy had a serious motivation. He was tight-lipped and never told you about it. You’re like, “You’ve had a squatter in here this whole time and did not say anything?” There’s always a motivation but they don’t say it because they may be private people.

If I was selling my home, I would probably be the same way. We had a couple of deals come through where they were like, “This is my bottom number. I won’t go. I don’t need the money.” We come back and follow up a couple of months later and it’s like, “I will take half of what I was asking for.” They usually do have motivation. It’s a mixture of strangers reaching out to them. They want the most money for their property, and they have some emotional ties to it. It’s understandable. Follow Lauren, give an offer to everybody and follow up. That’s the key.

I remember the first seller that taught me that lesson. It was when I was still flipping houses in California. I used to qualify sellers much more before I would take the effort to give them an offer. This one seller, I never gave him an offer. Months later, he’s like, “I never heard back from you. I want to see if you are still interested.” I remember in my database I wrote that he was cold. He was a CPA. I was like, “This guy is a numbers guy. He is going to beat me to death on price.” I was intimidated by him because he had this intimidating scary voice.

I didn’t make an offer. He came back to me and I was like, “Fine.” I felt rude that I never got back to him, so I made him an offer. He negotiated $5,000 and that was it. I’m like, “What?” He was so cool. He was this busy businessman. He was always traveling. The motivation was it was an inherited home with him and his brother. There were three of them total. They were all very successful busy businessmen and they didn’t want to deal with it. They were like, “We’re too busy. I don’t need the extra money to go through with all the work that it’s going to take to get it. Let’s make this quick.” I was like, “How many people have I let go?”

We’ve had to go back through our text database and look at leads that we let go early on when we were not making enough offers on everybody. We went back and re-texted everybody and pulled deals out of there. You never know.

Hopefully, people will follow Lauren and James. What is next for you in your wholesaling journey? What’s your next goal?

WI 839 | YouTube University

YouTube University: You never know what a seller’s motivation is.

 

My partner, Nick and I were talking about this. We are both still completely hands-on and doing everything. One thing is getting a VA. That would be extremely helpful to take care of a lot of the mundane things that we don’t feel like doing all the time. Our time could be better spent elsewhere. We’re also thinking of more ways to start purchasing some of these properties ourselves. That’s where we’re thinking next. We’re still going to keep wholesaling. I don’t think that that’s ever going to go away. That’s a great way to generate leads for other investors and yourself if you are eventually looking to get into buying things yourself.

Wholesaling will always be there for us, but we are thinking of getting more into some buy and holds eventually. That’s where we’re looking towards next. In the immediate future, we’re continuing wholesaling. We’re only in one market. We may lean into some other markets now that we’ve got a good basis of what it’s like, what buyers are looking for, and the prices of homes. We got a good grip on the market. Once we can automate things a little more, eventually, we’ll start getting into another market as well.

In that year that you tried to go virtual, you did two deals. Do you remember how much you made in that one year when you were in YouTube University figuring out virtual? Do you remember how much those two deals net you in wholesale fees?

Surprisingly enough, they were two of our bigger deals. We made $40,000 on those first two deals.

For the last months, you’ve done eight deals. Do you know what you’ve brought in those deals?

We did a few smaller deals within that. If I remember this correctly, it has to be about $70,000.

You are well on your way. You are doing better than if you were working in psychology. Are you still working in psychology or did you decide to go real estate full-time?

I am doing real estate. I am also a musician. I play the guitar. That’s my other life.

Now you have more freedom to do the things you love. James, thank you so much for coming on this episode. If anybody wants to get a hold of you or ask some questions, are you on Instagram or Facebook?

My name on Instagram is @_GoldenEye. They can also email me at James@ApolloHomesLLC.com.

That’s it. If you liked James’ story and you want to go virtual yourself, I want to help you. Make sure to check out www.VirtualInvestingMastery.com. It’s the same mentorship group that James is a part of. We’ve got an amazing group of leaders in the virtual space. I would love to have you be a part of it. Thank you so much for reading and I will see you next time.

 

Important Links:

About Lauren Hardy

WI 834 | Virtual MarketLauren Hardy is a Virtual Investing expert and Real Estate influencer who owns multiple companies in the real estate industry including real estate investment, coaching, and software companies. She is also a Wholesaling Inc coach and co-host of the Wholesaling Inc Podcast.

Her experience in the last decade has been focused on real estate investing and creating products and services to serve the real estate investing community. If you are interested in investing in real estate virtually, house flipping, or virtual landlording, Lauren’s your girl.

Leave a Reply

Your email address will not be published.

[class^="wpforms-"]
[class^="wpforms-"]