Posted on: March 11, 2022
WI 905 | Legacy Wealth

 

Everyone has a different path before eventually finding the niche that best suits them. Building a business can be tedious and comes along with different challenges. If you don’t have the determination to keep going, you’ll end up feeling stagnant. Meet this unstoppable wholesaler who cracked the code in making massive profits and setting up his legacy wealth! Join us in today’s talk as we discuss the importance of taking action, overcoming trials and errors, having the right business mindset, and so much more.

Building The Proper Foundation To Create Legacy Wealth With Chuck Williams

Before we get started, I want to tell you about Wholesaling Inc’s tool of the month for the month of March 2022, and that is REsimpli. It is the best all-in-one CRM platform we have ever seen. The best part is REsimpli is not just an incredible customer relationship manager. It also provides you with a ton of other features like skip tracing and list stacking. They have their own phone system built into this thing. You could do drip campaigns like following up with motivated sellers, with automated texts, emails, ringless voicemail, and even direct mail campaigns. These guys even have their own driving for dollars app. This is truly a one-stop solution for all of your business needs.

You could probably eliminate monthly payments on at least 5 or 6 different tools, maybe even more, and save a bundle without worrying about hopping from platform to platform. This is all under one roof, and it is one of the best software solutions we have seen to run your entire real estate business. It is REsimpli. For a limited time, if you go to REsimpli.com/wholesalinginc, you will save 20% on your first month. Stop wasting time jumping around in ten different platforms and start spending your time where it counts, like doing more deals. Let’s get into the episode.

I have an amazing episode for you. This guy is one of the most humble, easygoing characters I have ever had the pleasure of speaking to. I remember when he first started in land, he was struggling with one parcel of land, and you are going to know in the episode how he overcame the struggle. What he has been able to accomplish in a short timeframe, I’m impressed with.

I remember one of the first calls I had with him. He told me this is the last straw in real estate. I was a little nervous coaching him because I was like, “If he does not have results, what is going to happen? Is he going to be super upset? Is he going to come to find me?” I’ve got a great episode for you. This gentleman is doing amazing things, and I can’t wait for you to read it. Mr. Chuck Williams, how are you?

I’m great, thanks. I’m excited to be here.

I’m excited to have you. I know this has been a long time coming. I have been gloriously watching your success with this. It could not make me happier. I remember there were some struggles, too. Let’s talk about that. First, I want to hear about Chuck Williams. Are you married, have kids, where you at in the country, and what did you do in the past? Where have you been, Chuck?

I live here in Utah. I have three 3 and 1 wife. I went to school for Graphic Design, and I have been doing graphic design for the last several years. I have my own clients, and I work from home. I have a little bit of the entrepreneurship bug. Several years ago, a buddy of mine in my neighborhood started getting into real estate. He flipped a house and eventually moved. He kept moving into bigger houses.

I eventually took him out to lunch and said, “What’s up?” He introduced me to wholesaling, and I jumped into the BiggerPockets, Max Maxwell, Sean Terry, all of them, and I started doing it. I joined a mentorship and started driving for dollars. Before you knew it, I found a deal, and it was one of those unicorn deals. It was not fair for me to get that deal as my first deal because it did not teach me a lot but it got me hooked.

It was a tired landlord, and he had rehab the whole thing. He was ready to rent it out again, and I called him up. We talked a few times, and he accepted my deal. He was ready to retire and build. It was great timing. We’ve got it under contracts. I partnered up with a money partner. We bought it, put it right back on the market, and sold it within a few months. I made about $13,000 on that, and it was seven hours of work.

It is almost $2,000 an hour.

I kept tripping over myself. Instead of enjoying the profit, I would spend it on another mentorship because something shiny would drive by my internet, and I would join another mentorship. I was constantly looking for the easy button like, “What is the secret?” You get sick of looking on Facebook and seeing everyone post their checks.

There is a rewarding side to it and an overwhelming disheartening side as well because you are going and you are not getting those checks. I would join another mentorship, thinking it would be easier. I will do a few deals, take that money and join another one. I’m up to eight now, which I do not regret at all because this is stuff I can use the rest of my life, and eight times’s a charm. It led me to land, and I finally found my niche.

I’m so glad you shared that, too, because as an entrepreneur, I am guilty of that as well. I’m sure you have heard, “The major thief of happiness is comparison.” I know we have our private support group on Facebook because it is simple, easy, and convenient for people but I have a rule. I do not scroll. I do not want to see what the other big dogs in real estate are doing.

Don’t wait until the end to start taking action.

I personally hate seeing those checks, too because it is a comparison, and it steals happiness. It is like, “Let’s get into that course.” It is one of those things. I’m glad you said that. I’m sure we have a lot of entrepreneurs reading this, and we call it shiny objects but that is why we are entrepreneurs. It is because it is all shining to us. We are visionaries. We want to see things grow, build, and do all these things.

At the end of the day, I can say I have probably been in 8 or 9 courses as well, or maybe around 6 or 7. I have been to multiple seminars and all this stuff. I remember my dad telling me when I was young. It was like, “Son, you are spending all this money. Stick to one thing.” I kept spending money on all these real estate courses but every one of them was a little piece of the puzzle.

When the student is ready, the master eventually arrives. It finally happened for me too in land. It was when I made the big break. We were doing houses like you but I was always searching for more answers. I felt at home when we did that 1st land deal, and then the 2nd and 3rd. Thanks for sharing that. I hope that hit the reader’s heart like it did mine.

It was a tough lesson to learn but everyone has a different path on where they can get to their niche.

We all have a different path, and the path to success is through the gutter. Some it seems like it happens right off the bat for them. I felt like mine was through the gutter and maybe yours as well. Tell me about where you are at now. What is going on now?

I still do my design work but I’m able to be pretty flexible. Now I’m pretty 50/50. I will bounce from land to design every day. I still enjoy design but land offers a lot more financial freedom. You always talk about geographical freedom as well. We are thinking about moving, and we can move wherever we want. I love Utah, and Utah has a lot of land. I’m happy working on this until I’m ready to grow.

We moved too not so long ago because it was like, “We don’t have to be in Colorado. We can go somewhere else.” It was one of the coolest things ever. It did take me a while to get used to working from home. I went out and rented an office. I thought I needed it. I finally canceled the lease on that. I did not need that.

Let’s break down a land deal. Before we do that, one thing I always resonate with very well in someone is when they talk about their struggles, and I’m like, “I went through that, too.” You had some struggles in the beginning. I remember that couple of lots that you were struggling to sell. Are you willing to break one of those down for the readers?

One of the mistakes I made is I picked three different counties because I wanted all the deals now. I mailed out to one county, and all my prices were wrong. They were way all off. I was offering a couple of extra zeros that did not need to be there. My mailbox was filling up, and my phone was blown up. I learned that all my offers were off, and the county was legally subdivided in that area. There was nothing out there, and I bounced to another county. The county that I’m in now is great but I’m constantly learning about the county. The one thing that I would recommend is sticking with one county until you know it like the back of your hand.

I mailed out some offer letters, and I found this 3rd of an acre. I sent it to him at $500, and we negotiated. He had got it in trade for some home repair. He had never seen it. We settled on $700. It was the perfect price point for me to jump in and make as many mistakes as possible because I could recover from $700.

I bought it and talked to multiple realtors. Every realtor gave me a different price. I’ve got my hopes up, and I get my hopes crushed. I listed it and posted it everywhere. I learned halfway through selling it. I did have sellers go out and look at it, and there was a giant wash through the middle of it. I did not know to look for that on Google Earth or the county map. It is about two and a half hours away when I go to see it.

You are stuck within two and a half-hour radius.

WI 905 | Legacy Wealth

Legacy Wealth: Land offers a lot more financial freedom.

 

It is not the end of the world if I have to go out and see the land. It is a full day for me but it is fun. I had a giant wash through it, and everyone that would go out to see it would say, “I can only use 1/3 of it.” I was selling it for cheap. I listed it at $2,900. Finally, I found a guy. I had almost forgotten about this deal because it was several weeks after I bought it. He called me out of nowhere and said, “I’m standing here now. I will give you $2,000 for it.” I remember I started shaking. He said, “Can I Venmo you?” I thought, “I’m going to make $1,300 of this bad piece of land, this bad choice, this bad investment.”

I worked with the county on recording the title. I learned about the land and all the zoning laws. I learned so much from this $700 that it gave me enough confidence to start moving up. I learned that you need at least 1 acre in this county to build. I stopped mailing to anything under 1 acre. I started doing 1 to 5 acres or 5 to 9 acres. I would not have learned that if I would not have taken the plunge on that $700 deal.

“Take action.” That is what I heard the whole entire time. You’ve got a little instruction from the course enough to take action. Your action led to you learning more and ultimately almost tripling your money. You went out and did it. How in the world did this buyer find the land? Was there a sign? How did he know like that land was even for sale?

I kept it up on Facebook. I had it in other buy and sell groups. I remember getting notices from Facebook that my ads were about to expire. I felt like, “I bought $700 worth of land. It looks like we are going to own it forever.” It turns out he bought it. From there, I kept mailing. The course is perfect because you give us enough information to get started but you do not.

Once you take action and are using your money, you are borrowing money or you are dealing with actual buyers and sellers, that is when it hits home that I need to remember this. I need to know all these steps for due diligence. Every deal I have done so far, I have learned 2 to 3 more due diligence things that I forgot to deal with in the last deal.

We’ve got to keep that checklist in front of us because we forget it, too. I forget it. My team forgets it. I was like, “Did you check this?” on my acquisition manager. She did not. It is like, “Where is your checklist?” “I was trying to do the work from a hotel, and the grand came.” We’ve got to keep it in front of us but that is so true. You learn by doing.

I love the fact that you took action quickly because a lot of people will watch the course and not take any action. The whole course is set up to take action, and the next video comes. If you watch the higher course and do not take action, you forget everything. You’ve got to watch it again. It is better to go with it. In each deal, we still learn new things.

That was hard for me not to wait until the end to start taking action. When I told you when we’ve first got introduced, I said, “This is the final straw for me as far as real estate goes.” I’m going to do the exact. In the past mentorships, I would do the buffet model like pick and pull some things from it that met my personality. This one, I remember I had to close the computer and start sending out mail. I had no idea what to do or where to send it, but I did it. Once the phone starts ringing, you’ve got to do or die there.

There is no turning back. I love that you referenced the do or die. I was like, “We’ve got to get your phone ringing, Tracy, because you can’t turn back.” A lot of people have read this Do or Die episode. It is so funny. I had COVID during that process. That was a very hard time in my life. I was sweating and out of breath during those shows. It was all live but it got results, thank God. I remember vaguely you telling me like, “This is the last straw.” That is all I remember. I was like, “If this guy does not get results, he is going to come to find me.” I have lost a little bit of sleep that night that you signed up but thank God you’ve got result.

It was the Do or Die Series. I remember reading that and just, “I can do this.” It has been amazing. I’m still learning. I’m making enough to where we can start to go on vacation, get out of debt, and start thinking about a new house. You read about it in mindset books but once you start applying it and seeing it come to fruition, it works. I was a critic of everything. Once you start doing it, you realize that it is real.

That is where the mindset comes from as you are out there driving two and a half hours, getting stood up by buyers, and sending that mail out when it is uncomfortable. We can read these books all day long but it does not work until you go out there and pay the price to build that mindset. On that one, you made $1,300. I know you had some better ones. Do you want to break down another one?

This one was fun. I was sending out my 1-acre land offer letters, and I sent it out to this lady. She lived a ways away. I do not think even in the states. Her father bought this piece of land several years ago, and another one of those where they planned on building on it, and life got in the way. She emailed me and said, “I’ve got your offer for the 1 acre but I also have 15 acres.”

Be as honest and upfront to your clients.

I was like, “That is out of my comfort zone. I’m not doing 15 acres. I will someone to JV with.” She gave me her price. She said, “According to the county assessor, it is worth this much. That is what I will take.” I thought, “What we like to hear is the county assessor is always off on land.” I comped it up. I said, “I can do that.” We completely put her 1-acre deal to the side and focused on these 15 acres.

It was getting close to the holidays. I knew that she could use it, and I could use it. It was a total win-win. I’ve got it under and started marketing it everywhere. I found a local guy in the area to go out and take pictures for me. He was posting it everywhere, and I was getting calls on it. Finally, I had a family that said, “Let’s do it.” I remember shaking the whole time.

You have such a poker face, too. I can’t imagine anybody would even think you were nervous.

She told me that these 15 acres were worth $13,500. I thought, “If it is under $1,000 per acre, it is a deal. I do not care. If I can sell it for $2,000 an acre, that is a great win.” That is what I did. I bought it for $13,500, and we sold it for $31,000.

Did you assign that contract to a buyer, or did you buy and flip it? How did that work?

I felt comfortable with assigning because it’s coming from my wholesale houses days. We are raising money and all that stuff. That was still out of my comfort zone. I wanted to stay within what I felt comfortable with. I assigned it. I learned a lot more things there just being as completely transparent as you can to the family that I sold it to. I tried to be as honest and upfront. They were fine with it. I worked with a great title company, and it was fairly smooth. The seller sent me a note and thanked me. I called her, and it was great.

The perfect icing on the cake is when the seller is happy enough to write you a note. I’m glad you said that and the $18,000 you made off of that deal. What fell better, that note, the $18,000 or both?

Both felt better but the timing was great because it was right before the holidays. It was good for my family. My wife has been the rock and supported me on my eight fun rollercoaster mentorships. She finally saw the fruits of my labor. She was a believer, and so was I. After that, it was like, “Game on. Let’s go.”

When your spouse, your woman, wife, or husband is behind you, that is when you can move mountains. Anything I have ever done in my life, and my wife did not back me up on it, was a pure waste of time and energy. When my wife got behind me and believed in it, that is when it became successful. I’m glad you led me into that. What did Ms. Williams think when this started finally working?

She was as excited as I was. She wanted me to win for several years. I can’t believe she has allowed me to keep trying and trying. She stuck with me, and it has paid off. Now, her mindset is the same mindset as mine. We are like, “We can do this and have this much passive income.” If we were to tell other family members what passive income and our goal is, they would laugh at our face. We know we can do it because this program teaches us about big flips, and it is completely passive. I have a note now, and on the first of every month, I get $300. I do not get any calls about plumbing, the roof or HVAC. It is amazing.

Have you gotten all your cash out that is invested?

Yes.

WI 905 | Legacy Wealth

Legacy Wealth: Stick with one county until you know it like the back of your hand.

 

You’ve got your money, investment, and security out. It is all pure profit, $300 a month. I do not know why but I get more excited about that $300 a month than I do that $18,000. That could be continuously scaled and compounded. Before you know it, it is $30,000 a month.

I like these big juicy deals but every time I get land under contract, I’m thinking we can spread this out over the next 5 to 10 years. That is what is exciting. That is the goal. Once we get to our number, we are financially independent.

Chuck, I appreciate you so much for sharing this and letting me pull this out of you. I do not even think you realize. You probably do because you are a long-time reader of Wholesaling Inc’s blog post. I do not think you even realized how much value you gave to everyone reading, the journey, the hope, and not to quit. You might have mentioned it but how long did that take for you to do all these programs and finally start winning with this?

Several years.

I do not think people realize that. We want to go into business and start earning all this money but it is a several years journey sometimes. I started mine in 2007, and I do not think I started doing well until about 2015. That was a very long time. Most people think, “I could start a business now and be uberly profitable. I could be Facebook or all these things we see and these big checks that people are flashing.” It took me eight years to get there. You are a little faster. You are twice as fast as me.

The hurdle is once you start and you get into these mentorships, people in your mentorship start talking about all their success, and you assume, “In three months from now, I’m going to be cashing checks.” Maybe, and maybe not. It is grinding through until you start seeing it consistently. It is like going to the gym. I hate going to the gym until you start losing 1 or 2 pounds, and then you are addicted.

It is that addiction. That is what fuels us as entrepreneurs. If you could share anything with the readers to help them out with their journey, what would it be? What is the one gold nugget that Chuck Williams has?

It is the same gold nugget you are going to read at the end of every Wholesaling Inc’s blog post. I kept waiting for some secret message and encryption but it is the consistency. You follow the rules. You take action. Once the phone rings, you are on. The faster you make mistakes, the faster you are going to succeed.

It is like when that lion sees the gazelle, it is game on.

Every time I make a mistake or learn something new, it is frustrating for about an hour or two. Thankfully, I can look back and be like, “Now I know.” My whole mindset is on, “I hope I keep making more mistakes.” The faster I make those mistakes, I can rebound and keep going.

Wholesaling Inc, Rhino nation, you read it. Mr. Chuck Williams in Utah is out there, failing forward every single day. He is a dedicated reader of Wholesaling Inc. He did the first deal, $1,300. Your second deal is $18,000 and then a $300 note. He kept doing it, taking action, and consistency added up. It compounds on itself.

If you are thinking about getting started in land, head on over to WholesalingInc.com/land. One thing I am adding to my business is I have been finding out about grants. I’m also telling my students about this. This is something I want to share with you too, Chuck, but there is something called AdvertisingGrant.com out there that helps businesses get up to $10,000 a month in paid ads. You do not have to pay it back ever. It is for the rest of your life. Check that out and see if it is the right fit for your business.

The faster you make mistakes, the faster you are going to succeed.

I’m sure you are getting so much value out of this. Please share this episode with a friend or a family member. Someone like Chuck here might have a story like that. He or she is working from home, needing some extra income or maybe needing a passive income of an extra $300 a month. Share this episode with somebody that needs it.

If you have not already rated and reviewed this show, please give us a five-star review as well as a nice little short and sweet sentence about the episode. For some reason, the algorithm loves that, and it will help us share our message with others and help others achieve true financial freedom. You know my story.

My story is getting me to have freedom. Freedom through land. Freedom that allowed me to quit my job, to have financial freedom, time freedom, and live anywhere in the world that me and my family chose to live. Thank you so much for jumping on, Chuck. I can’t wait to see where you are at a couple more months from now.

Thanks, Brent. I appreciate it.

Have a great day. Talk to you later.

 

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