Posted on: March 31, 2022
WI 919 | Real Estate Wholesaling

 

Most of the legacy comes from you. And it’s your job to exemplify what you can do with your time and effort. Attaining wealth doesn’t happen overnight; it takes guts and massive action to propel forward.

Meet this wholesaler who reinvented and taught himself to master the A-Zs of real estate. Omar Lopez is here today, and he’ll be walking us through how he bumped into wholesaling, netted $650,000 per year on revenue, and built his legacy wealth by putting up a business that works without him. If you’re wondering how he’s done it, join our chat today by clicking on that play button!

From $30k Per Year Landscaper To $650k Per Year Real Estate Investor With Omar Lopez

Episode Transcription

This is going to be an incredible journey that we’re going to go on in this episode. Imagine a few years ago, you go from making $30,000 a year to making $650,000 a year and having a portfolio of $2.5 million, growing, and an amazing number of deals in the pipeline. That is the story of this gentleman out of Palm Springs, California, that I’m having a conversation on the show. It is Omar Lopez. Omar, how are you?

I’m doing well. How about you?

I’m excited to share this. You were a landscaper making $30,000 a year. At the time, you thought that it was awesome. What happened? Walk us through this and we’ll get into where your brain started to latch on to real estate investing.

I’ve been working since I was a little boy since I was six years old. My daddy used to take me to his gardening route. I always knew how to work hard and graduated high school. I went to college also. I graduated with my Horticulture degree in Turfgrass Management. I thought that’s what I wanted to do. I wanted to be a landscaper and have my landscaping company.

I went off a path where I wasn’t doing much and hanging around with the wrong crowd for a while. I was making $30,000 a year as a tree trimmer. I thought I was killing it. I’m making more than my parents because my parents were making a little bit less than that. One day, I decided to quit my job and bought my own tree trimming equipment. I went off on my own tree-trimming route and three days later, I fell down.

What kind of tree?

It’s a palm tree.

You fell off a palm tree.

I was swinging from this palm tree to a different one. It’s a tree-climbing method and the palm tree broke.

Were you alright?

No. I fell down on the brick wall. I cracked the brick wall and fractured my vertebrae. I tried to walk it off because I had walked it off in the past when I used to fall down from a tree and couldn’t walk it off. I collapsed and told them to call 911. They rushed me to the hospital.

You go through that experience. Now, what do you do? How did you get into real estate? Were you always looking at real estate? Are you going to be an entrepreneur in the field that you went and studied?

Real estate is tried and tested. It has made more millionaires than anything else.

I always had that bug of achieving something and had that hunger but I never knew I was going to get into real estate. Here I was semi crippled. I had a back brace so now I had to reinvent myself. I started reading books, going down a path of personal development and started helping myself. At first, I knew that I wanted to be rich. That’s what I thought. I went into YouTube University and started bumping into a bunch of people. They say, “Read books and all that.” I ran into real estate.

I was like, “What is this?” I had heard of maybe real estate agents or stuff like that but I didn’t know anything about it. I bumped into Robert Kiyosaki. I was like, “I think I can do this. It’s tried, tested, and made more millionaires than anything else. I don’t have to reinvent the wheel and invent a gadget. That was crypto at the time but I was like, “I’m going to study, work hard and do this.”

What was your first step? We have a lot of readers that are very excited about real estate. A lot of people have done some deals but a lot of people haven’t. What was your first toe-in-the-water experience going and talking to somebody about real estate?

It’s a domino effect. If you’re searching for something, you’re going to find it. I was searching. I would pick up anything that I could get my hands on, from webinars to training courses. I remember buying a training course. I don’t know. It was probably $500. They talked about REIAs. At the same time, I’m reading books and listening to podcasts. I came across your podcast at that time and started listening to it. I was like, “What are these REIAs? I looked it up and there was a local REIA.

Explain to everybody that isn’t familiar. What is a REIA?

It’s the Real Estate Investors Association. They’re basically networks where you can go and network with other like-minded people that are doing deals and lenders that want to lend their money. Maybe you got a deal that you want to present or you’re looking for a deal. There was one that was an hour away in the Inland Empire and one local to me. I went to the one an hour away. I was hungry so I went. Even people were like, “You came from Palm Springs. That’s like an hour away.” To me, it was a no-brainer. I went to the other local one and that’s where I started networking, presenting myself, talking to the other mentors and people who were doing deals and stuff like that.

Were people receptive, coming with open arms or cool? Did you have to break down some barriers? What should people expect going into a Real Estate Investing Association that never has?

You have all types of people. There are those people that look at you and probably think like, “We see your kind all the time.” They get the fire and the hunger. Within a couple of meetings, you’re not going to come back. You have a couple of other people who may see you and they think, “This guy may bring me deals.” They are like, “My name is so-and-so. What are you doing? We’d run the meeting and so forth.” You have everybody. I remember seeing some people doing deals and having nothing to talk about.

I remember I had nothing to talk about and my hands behind my back and listening. I was thinking to myself that I was going to be in their position one day. I’m going to be in their position. I’m going to have something to talk about, a deal to talk about. That’s how it all got started. I kept going. I remember I would get up on the stage because there are like halves and wants where you can present something. I don’t even remember if I had anything but I would put myself in front of the crowd. My name is Omar Lopez. I’m from Mountain Springs. I’m coming up. I started doing mobile home deals and all that. It’s putting yourself out there. It’s all about putting yourself out there.

One, it’s getting loud in a group of people with similar goals as yourself is critical. Number two is going there with something of value to give. How can I help these other people that are where I want to be? How am I able to make them more money? That’s the key to getting into the door of understanding what’s going on here. Not everybody’s going to want to share with you or have the time to or be greedy with it. You’re going to find plenty of people that you can connect with, that you can build a network and grow with. Those are the right people to find. To get that access, you have to bring some value.

I’m telling everybody out there when people are like, “I don’t know what value I can provide. I’m getting new. I’m trying to learn here. I don’t even know the information.” This is what you do. This is what you say. I am going to go and every single day, I’m going to door knock. I’m going to make calls and I’m going to go try to find the ugliest properties in our city. When I find them, will you help me do the deal? That is the perfect approach.

Pick out the person that you think has the right energy. You can sense people’s energy when you’re in a room and you’re like, “Who’s that person? Why is everybody over there? Why is everybody smiling?” As opposed to that dude over there, that’s grumpy and a dark cloud, go to the person that has the energy and has that magnetism. Go say that, “Go tell them. I’m going to go out there. I’m going to hustle this thing up. I don’t have a huge budget or any experience but I have a huge passion for this. I know that I can do it.” That’s basically what you did.

WI 919 | Real Estate Wholesaling

Real Estate Wholesaling: Present yourself and start talking to people and mentors.

 

That’s exactly what I did.

You went up and were fearless. Maybe add a little bit of apprehension but you went up onto the stage and said, “I’m coming up.” You said that in my mind. I was like, “That’s the mentality. You’re coming up.” Even when you’re starting, “I can do this.”

Yeah, exactly.

What did you do? Did you start making calls, door knock, or sending out mailers? How did you start getting some lead generation going?

I started driving for dollars. It was the first thing I started doing. You start educating yourself. After a few months, you realize that all the education is the same. You may take another course, the second course, the third course but it’s all the same. After a while, I was like, “I got to start doing something now.” I couldn’t figure it out. Do I buy a list or drive for dollars? I said, “I’m figuring it out now.” I got to market to certain properties. You got the vacant list or the foreclosure list and then the drive for dollars. Everybody talked about it. I started driving.

You start thinking, “How do I contact that list? Do I send mailers, text or call?” I started calling. At first, I remember before I even started driving for dollars, I had PropertyRadar and would call a certain list. I was calling a $1 million house and doing it all wrong. The more you go, the more you start learning. Driving for dollars and cold calling was what got me close the first couple of times to my first couple of deals. I didn’t get them but that’s how I started. I started a snowballing after that.

How did you get your first deal?

My first deal was a mobile home deal because I got your program at the end of 2018. In the meetings, there was a couple of guys who were doing mobile home deals. I thought, “I got to either do one thing either houses or mobile homes. Mobile homes sound a little easier. I can work my way up to houses.”

Get some quick wins.

That’s exactly what I did. I started hanging around with a couple of guys that were doing mobile home deals. A few months later, I bought and sold that mobile home. That was my first deal. A couple of months after that, I started doing more mobile home deals. I landed my first wholesale deal later within the year.

How did you get that deal?

It was funny because I was in a mobile home park, driving around and looking for mobile home deals. I visited every mobile home park in my valley. I know all of them. When I would see people walking around, I pulled over and said, “I buy, fix and sell mobile homes. Do you have a mobile home that you want to sell?” This gentleman is like, “I have one in Tri Palms,” and that’s where you own the land also. We’re talking about real estate.

Start educating yourself.

Let’s make a quick distinction here. With mobile homes, you can buy and sell mobile homes but it’s more like buying and selling a car. You have to go through the DMV or the Motor Vehicle Department. Oftentimes, if they’re in a park, they don’t own the land. Somebody owns the land and the park owners loan the land. You’re talking about whether this is a manufactured property or a mobile home. They also own the land. We’re talking about real property, being able to go through title, escrow, that whole process and that’s what you found. There’s a distinction there for anybody that’s confused.

To put that out there, I thought that I was a real estate investor when I was doing mobile home deals and I realized that I was not a real estate investor. I was a mobile home car investor.

It’s confusing because people live in these. People live in houses. Why are they different? They don’t own the land. That’s where the value is at.

It’s the real estate. Otherwise, you’re not a real estate investor. That’s when I thought, “I want to be a real estate investor.” That’s where the ultimate wealth is and the bigger zeros are. This gentleman told me that he was selling this one that had real estate. I told him to tell me more about it. I went to visit the property and we put it under contract. When we put it under contract, I had a very small network of buyers but I ended up wholesaling it to this local guy that bought those types of deals and made $4,000 on it.

How did you find that deal?

It’s by word of mouth. I was driving looking for other mobile home deals. I bumped into this guy. I asked him and he owned that one. It’s talking to people. That’s what it is.

Let me ask you this. I’m switching tracks quickly. I feel like you’ve got a very strong mindset. You have a lot of confidence in your ability to do this. Where did that come from? Why do I think that you’re coming up before you even start? Why think that you can make a bunch of money? Why do you think that you can be an entrepreneur? Where does that come from?

It’s the consistent small steps that you take every single day. It’s not like it’s going to happen overnight. I wake up every day with the intention of being a better man and a person than yesterday. I’m seeking division, helping out my family, and creating that legacy. It comes from reading, good habits, exercising and everything. It’s all the compound effect.

Oftentimes, we think that legacy comes with huge bank accounts and obviously, that’s part of it but most of the legacy comes from you being the example in your family of what you can do with your time and your efforts. What you can and what you shouldn’t do? There are both sides to that. You’re such a great example that all of a sudden, now the family has this wonderful thing or person to look at and say, “Look at what Omar did. I can do that too.” That is the seed that you plant and the legacy. You see it already with your family.

I could see that my dad and my mom are proud of me. There was a moment in my life when I wasn’t focused. For my parents to see where I was before and where I am now, they’re proud of me definitely.

You’ve got your rentals. You’ve got twelve doors and $2.5 million worth of real estate there. You wholesale and have owned mobile home parks.

I co-owned a mobile home park. It was an equity share agreement that I did with some of my mentors. It didn’t work out for me so I had a branch out.

WI 919 | Real Estate Wholesaling

Real Estate Wholesaling: Being a real estate investor is where the ultimate wealth is.

 

In 2021, $650,000 in income.

Yeah, surprisingly.

How did that feel?

I was surprised by those numbers. I tracked them and had thought I did a little bit less than that but overall, as a company, we grossed that.

What does your company look like? It’s you and who else?

It’s me. We have six cold callers, two lead managers that we’re training and I have my fiancé, who is my assistant and my property manager. She’s working on being the transaction coordinator.

Your cold callers, are they in town or have you hired them virtually?

It’s virtually.

What’s your budget for that? What does it cost to have six cold callers in your business?

They cost about $7,000 per month.

Are they $10, $8, $20 an hour? What do you pay?

It’s $6 an hour. They work nine-hour days, five days a week.

Take consistent small steps every single day because success doesn’t happen overnight.

How’d you find them?

It’s through a mastermind that I attended.

Is it a resource? Are you pulling it?

It’s a company.

What’s the company’s name?

It’s Call for Real Estate Investors.

That’s makes it easy to remember. Your two lead managers, what do they do? What are you training them to do?

I’m giving them constant training like Close Olympics and other trainings that are geared for wholesaling, sales, John Martinez, and all that stuff. We have meetings. I’ll have them go through leads on Podio. I back them up on what to say. They have a script.

Are these your acquisition managers?

They’re my lead managers. I’m the senior acquisition. I’m training them to be more of acquisitions. They’re not quite there yet but they will be.

For anybody that’s unfamiliar, an acquisition manager is basically the sales arm of your business. They get the leads coming in and their job is conversion. Whenever you’re looking at this business, you got to look at it in three parts, lead generations. Number one, that’s the engine. The second part is conversion. That’s where these leads get converted into a signed contract, which gives you the option. The third part is the exit strategy, which is basically you keep it in your rental portfolio. You flip it or assign the deal, which is referred to as wholesaling.

The middle part is your acquisition managers. That’s your sales team that you’re training. You’re going to pull yourself out of that because you’re going to the appointments. You’re doing lead follow-up. You’re pre-qualifying. You want to slowly transition them so that you can start having more time to think and to come up with whatever you want to do with the funds that you’re making from the business.

WI 919 | Real Estate Wholesaling

Real Estate Wholesaling: Give constant training that is geared for wholesaling sales.

 

My goal is to make an actual business out of it. It’s been a high-paying job lately.

We start out and we’re self-employed. We’re putting in the work and trading our time for money. At some point, we get to the point where we make enough money and start getting our time back. What comes with it is putting together an incredible business that can run without you. That’s it. If you want to be a CEO working in the business, that’s great but it’s even better being an owner of that business. That’s the goal that frees us up to do incredible things with our time.

I joined a different mastermind. There are different stages to a business. You have the hustler stage, the manager stage, the CEO stage, the advisor stage, and the owner stage. I’ve been in the hustle stage. Now, I’m trying to get into the manager stage so that I can get to the CEO stage.

I think it’s so important and a lot of people want to try to jump into those higher seats before they earn it and they are those people. You have to have this path. That’s the path. If you start skipping around, that’s when you have inconsistency and business fails. If you do that hustler, get into the management, CEO, adviser and owner, that’s the path.

By the way, I think people should enjoy every part of that process. How good do you feel knowing that you were out there knocking on doors, making calls, talking to random people in mobile home parks and growing your business in that hustle season? You look back on it. I look back on it fondly. I made calls for years. I look back and I was like, “Yes, I did that.”

I wouldn’t be here if I hadn’t done that. You can’t skip anything in life. Even if you go to the gym or something, you’re not going to get all pumped up one day. You got to work out.

It’s got to be consistent. Let’s break down a deal. Everybody loves when I put you in the hot seat, break down a deal, figure out how you found it or what was going on with that seller? Do you have an exciting deal you want to break down?

One that changed my mindset about doing these deals is the one that we closed on. This one came from a driving for dollars list. That’s like bread and butter right there. It came from a cold call. We had marketed to this lead. We made contact with him back in November. He said that it was in escrow for $270,000. It was a follow-up game after that. “Let us know if it falls out over there.”

Do you follow up with leads even if they have a signed contract with somebody else?

Yes.

What could happen?

It might fallout.

You can make a real business out of wholesaling.

Is that what happened?

Yeah. That’s what happened. We ended up calling him and he had already gone through the process two times with a different wholesaler or whatever. He said he wanted $270,000. I started running comps on this thing. The ARV was $440,000 or something like that. I said, “There’s a pretty big spread in here.” I kept following up with him and told them, “We’ll make this happen for you.” He’s like, “I’m dazed from these last other folks. They called me like you. They said they could make it happen and they didn’t make it happen.

They said their partners weren’t going to buy it and so forth. I said, “We’re not going to do that to you. We’re professional house buyers. I’ll make sure that we buy it. He talked to his wife. It took a couple of phone calls. It didn’t happen right away. I had to call him back. Finally, I said, I’ll give you an opportunity. My wife didn’t want me to do it because she’s dazed by these last guys but you keep calling me. You must want it. Let’s make it happen. We put it under contract.

It’s at $270,000 again?

Yeah.

Why did the other ones fall out? If it’s $270,000 and $440,000, this feels like a no-brainer. It feels like an easy deal. Do you think it was people that didn’t know what they were doing?

I don’t think they knew what they were doing. They were probably getting started, as we all do. Everybody gets started somehow. They weren’t that competent. We put it under contract for $270,000 also. I have this guy that helps me dispo some of my deals. I told him to help me dispo it. I had these sellers send me pictures. I’m always over here thinking that I had to walk the property. I said,” Send me the pictures that you got.” He sent me the pictures and we put them out. We send it to all the buyers. Within a week, we got an offer. It was for $315,000. The pictures were fine, sight unseen. I never even walked this property myself.

Did you even meet the seller?

I didn’t even meet the seller.

You’re telling me you don’t have to meet sellers, go to the property or get a contractor’s bid. You don’t have to do all these things and can sell properties and people will buy them. Everybody reads this every day of the week, hundreds of times a day. This happens throughout the country. This is real life. He never went there. He only talked to him on the phone.

I’m telling you, 90% of this business is how good you are on this little cell phone device. It’s your ability to communicate. You communicated that they could trust you to get the job done. They sent you the pictures themselves. You sent it to your buyer base. They didn’t even want to see it and bought it. Did they close at $315,000?

They closed it at $315,000.

WI 919 | Real Estate Wholesaling

Real Estate Wholesaling: Instill the confidence that you’ll work your way up.

 

How much did you make?

I made $30,000 because I gave $15,000 to the guy that helped me dispo it.

Congratulations. It’s $45,000, $30,000. That one deal matched where you were making a few years ago in your landscaping business.

That’s what I used to make in an entire year, $30,000.

How many phone calls do you think were the total estimate? It’s from initial contact to follow-up to communicating during the process, the escrow, to getting it closed.

Call it twenty.

Let’s call it $1,200 a call. More than that, you split $15,000 with the guy. You got paid every time you picked up the phone. I think like that. In terms of that, it gets me excited that we have so much leverage in our life. At this point, in business, technology, and our country, we can pick up the phone and make $2,000, $3,000, $4,000, $10,000 every time we do it.

The biggest thing right here is instilling that confidence. You’re going to work your way up to that point. You got to work your way up to the point where you tell him, “Mr. Seller, I’m going to make this happen for you.” If you know that the numbers are good, you can lock up these deals anywhere in the nation. Your buyers know their buy box also so they bought it sight unseen. It worked out all the way. I never had to walk the property. As a matter of fact, the seller never even went to escrow. All the papers went directly to the mobile notary. It happened. He was in Arizona and the property is in California.

I’m telling you what a story. What an example that everybody out there thinks that they have to know everything, get stuck in the education loop, and paralysis by analysis. The three Ps, perfectionism, procrastination, and paralysis by analysis attack a lot of people. You’re sitting here being a great example of, “Just take the action and surround yourself with people that are taking action. You can’t lose.” What is your big goal? What are you going to do with this business? Is it a big portfolio? Are you going to be developing? Do you want to be the bank at some point? What is it?

On my mind is making a real business out of wholesaling. I started off buying rentals at first. We own twelve units and that’s cool. When I was doing that, I didn’t have any real income coming in from the business because I do this full-time. I don’t have a job. My goal for the next 12, 24 months is to create a business with a team that can operate on its own. Once I start generating heavy cash flow from that, I’ll go back into buying investments because I already know focus. I already know what it’s like to buy investments and own rental properties. That’s easy for me. Being a business owner is something that I’m seeking that probably not everybody accomplishes. You can be self-employed with a high-paying job but having a real business that can operate on its own, that’s what I’m seeking.

How can people reach out to you? There are going to be plenty of people that want to say, “Congratulations,” or maybe they live in the same area. They want to squat up with you. They’re inspired. You’re going to inspire a lot of people with your story. How do people reach out?

They can reach out on Instagram or Facebook. I’m on Instagram. It’s @The_Omar Lopez or on Facebook. Look me up as Omar Lopez. You might want to type in Cathedral City or Palm Springs after Omar Lopez because I know there’s more than one. That’s probably how you’ll find me.

You’ve got $200,000 in income closing.

Yeah. I have three flips that are closing. That’s going to bring in more than $200,000.

You’ve got three flips closing in Palm Springs. You’re here in my office here in Phoenix. This is the best business ever. Plus, you got another $33,000 wholesale deal. You’re doing the thing. I love it. We’ve worked together for a long time since 2018. I’m thrilled about where you’re at now and all the work that you’ve put in. It’s well-deserved. For everybody, a little bit of housekeeping here, we mentioned driving for dollars a lot in this conversation. DealMachine.com gives the biggest discount for their app. It’s the best app there is for driving for dollars.

You’re simply driving around the neighborhoods, looking for the ugliest properties and adding them to your list so that you can reach out and be proactive. DealMachine.com, use the coupon code TTP as in Talk To People. It’s the biggest discount that you get. If you’re interested in joining the most proactive group in real estate investing, value your time, and cut out the 3-to-5-year learning curve in this business, check out the TTP Coaching Program and go to WholesalingInc.com/ttp.

Check out what it’s all about, all the incredible people having success around the country. If it feels good in your gut, sign up for a call. I look forward to working with you personally like I am with Omar. It’s absolutely incredible. Thank you for being here. Sky’s the limit for you. For everybody out there, I encourage you as always, to go out and talk to people until next time. I love you guys. See you.

 

Important Links

 

About Brent Daniels

WI 909 | Real Estate WholesalingBrent 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!

 

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