Posted on: May 12, 2022
WI 949 | Real Estate Wholesaling

 

Today special guest Tasha DeRegis joins Brent Daniels to tell her story about becoming successful in real estate at just 23 years of age. This episode is going to inspire you to create your plan for success in the real estate industry.

Key Takeaways

  • Leaving the corporate world for real estate can be a smart move.
  • Losing all your money doesn’t mean you have to quit.
  • Working multiple jobs to fund your business is a great way to grow quickly.
  • Tasha explains how she flipped four properties in her first two years.
  • Consuming the right content about real estate will help you on your journey.

Six Figure Wholesaling Brent Daniels With Guest Tasha DeRegis

Episode Transcription

Have you ever thought about all the different strategies there are in real estate investing, exit strategies, and ways that you can produce income in your business? Think about it. You could be a real estate agent. You can flip properties or house hacks where you build a house, live in a part of it, and rent out some of it.

You can wholesale properties, have long-term or short-term rentals, do the BRRRR strategy, be a developer, and do all of these things. The reason I bring all this up is that this incredible 28-year-old has done all of this. She is balancing this wonderfully and building her portfolio and also her company to be able to produce more opportunities every single week. It is my pleasure to bring on to the show Tasha DeRegis. Tasha, how are you?

I’m good. How are you?

I am fantastic. You’re from Nashville. You are tasting every little bit of this real estate business. You’ve done a little bit of everything.

I’m a dabbler.

That’s it. Let’s talk about this a little bit. When did you get started? What pulled you into being a real estate entrepreneur?

I wanted to go into human resources. I got a degree in Industrial and Organizational Psychology. I’m super passionate about psychology. I wanted to help people in the workplace, manage, and stuff. I got my first big-girl job out of college in a corporate environment. I realized within six months that it was not for me. I quit with no backup plan. I went and worked at a temp agency that I had worked at during college. I cut my income in half. I went from making $55,000 a year to $25,000 a year because I couldn’t tolerate how the corporate was treating me.

During that time, I was a receptionist and administrative assistant. I had a lot of free time because I’m very good at time management. I would power through my tasks, read a book, or research stuff on Google. I was like, “I’m not going to do this forever. I want to find a way to work for myself because working for other people isn’t for me.” I read the book 1-2-3 Flip by J. Scott. Three weeks later, I closed on my first flip. It went well. I was like, “I’m never going to stop. I’m going to do real estate investing forever.”

Walk me through that. You’re sitting there as a receptionist out of college. You were 22-years-old. You say it’s time management. I say that you’re wildly productive. You’re getting everything done. You’re quick with it. You’re working. You’ve got this time to be able to do that. What was the feeling of that job? Was it feeling like, “They have all the control, and I can’t control what’s going on here?” Were you like, “This doesn’t make me happy and not fulfilling?” What’s that feeling you’re going through as you’re sitting there as a receptionist that made you feel like, “There has to be more than this?”

It’s either a dream job or a dream life.

Before I was a receptionist, I was an executive team leader somewhere. I was running the store at a corporate level. They said that I had to work a minimum of ten hours a day, and it would usually turn into twelve. I was working 60 to 70-hour weeks. I was working on weekends, nights, and early mornings. I even had a talk with my boss. I was like, “If you don’t stop making me work this much, I’m going to quit.”

He was like, “We don’t want you to quit, so you don’t have to work that much.” He still made me work that much. I was like, “Here are my two weeks.” I love being a receptionist because it is so simple. I got to do a lot of self-improvement while working as a receptionist. I was bored. I was researching how to work for myself. That way, I found real estate. It ended up being a passion of mine. It ended up being fun. I never wanted to stop it. I don’t think I ever would.

How does somebody that was a receptionist go and do a flip? How did you raise funds? Did you already have the funds? Was it a very inexpensive flip that you did? Walk me through that a little bit. That’s a mystery in my mind. How do you go from three weeks later, and you’re doing a flip?

I got my flip for $119,000. It was 660 Rehnea Drive in Old Hickory, Tennessee, if anyone wants to check it out. It’s right on the outskirts of Nashville. I got it for $119,00, and then I put $20,000 into it. I read 1-2-3 Flip by J. Scott. I’m good at taking instructions. I was like, “I’m desperate. The worst-case scenario is I refinance and live in it. If this works out the way that the book says that it will, then I’m going to be golden. If not, at least I have a house I can live in. I can rent the rooms.”

I’m a huge problem solver. I knew that no matter what, I was going to be okay. I had a bunch of money from working at my previous job. In my first big-girl job, I was making $56,000 a year. I didn’t have any time to spend the money. I saved all of it because all I did was work. I had $12,000 that I could put down towards it. I got a hard money loan. It was one of the beginner loans. It was super expensive, but it was worth it.

That’s it. You weren’t scared or frightened. You weren’t like, “What is hard money? I don’t want to get into this high-interest debt. What happens if it doesn’t work out and I have to refinance this?” I assume you kept your job, but you weren’t there for two years. How do you even get a conventional loan? This is scary stuff. Weren’t you scared?

I wasn’t scared at all. I wanted to do it. Here’s what I always ask myself before I take a risk. First of all, I make an educated assessment of the situation. It’s an educated risk. It’s never all-out, like I have no proof that this will work. I made an educated risk and asked myself, “What’s the best-case scenario? What’s the worst-case scenario? I’m starting. I’m 22 years old. I have essentially almost no credit. I have $12,000. It didn’t take me that long to make it. I could always make it back. If I have to go bankrupt on this thing, who cares? At least I’m learning and trying it out.” I have all these different exit strategies that I could use, so I wasn’t scared.

You are incredible. We talked about it before. It’s a $25,000 flip. That’s what you made on it. You went, and the next year, you did $60,000. In the following year, you did $80,000. You then jumped up and found the world of wholesaling. We started working together. You went from $80,000 to $360,000 in 2021. You’re already at almost $250,000 in the first 100 days or so of 2022.

You are on fire. You’re constantly building. This is a testament. The reason I bring that up is not to brag for you, although it’s worthy of bragging. That’s incredible. It’s more to show that if you go, have confidence, and understand what the worst-case scenario is and that no matter what, win or lose when it comes to producing income, you’re going to learn. There’s experience.

WI 949 | Real Estate Wholesaling

Real Estate Wholesaling: Real estate ended up being a passion of mine. It ended up being really fun and I never wanted to stop it. I don’t think I ever would.

 

I lost all the money I made on my second flip. I was thinking, “God or the universe will give it back to me on my next one.” I got swindled by a contractor. I was like, “It’s not my fault. I’m going to do better next time.” The next one I closed on was a twofer. It was an estate. It was the lot next door along with the house. I sold a lot next door for $30,000. I profited $40,000 on the house. I made back what I lost. I didn’t give up.

That’s the thing. Over a long enough period, you always win. You stay focused. This is something that I’ve been investigating a lot. It’s not so much time management. It’s attention and energy management. Where are you putting your energy? For 168 hours in a week, you let somebody like you lose. You’re going to go bananas, find opportunities, network with people, pick up the phone, communicate all the time, build a company, and be unstoppable because that’s what your attention is on.

Somehow you’re born with the gift of understanding what’s the worst-case scenario. How did you learn that? This is blowing me away that at 22, you’re like, “The worst-case scenario is I lose the $25,000 I have saved up.” That would be devastating to me at 22 years old. You’re like, “I’ll learn.” Where did you learn that from? Where does that come from?

I have no idea, but I ended up reading a book a couple of years later. It was right before I quit my job to go full-time in real estate. I was in it for about two years or maybe a year and a half before I was like, “I want to figure out if I can quit and get my real estate license. I could double my income because I’ll be saving money on real estate fees.” I ended up reading a book called The 4-Hour Workweek. It talked about that concept. I was like, “That’s how I think.” It was a reconfirmation to go all-in.

I have no idea where I got that. I’m very good at educated risk-taking. From a young age, I had to pay my phone bill and buy my car. I worked two jobs in high school. I wasn’t ever given everything. That was a good learning experience for me to know money management. To me, $12,000 is a lot, but all I have to do is go get another $56,000 job that’s working me to the bone, and I can make that again. Who cares? The goal is not to have to do that.

That brings up an interesting point of understanding financial literacy when you’re younger. It’s putting children in a position to understand how to save money, be responsible with money, what money does, what opportunities it brings you, and what door that opens up for you. When you do have that $12,000, you’re able to go, take those educated risks, and not worry about we’re losing somebody else’s money that you raised, even if you can at that point. You kept your job for two years while you were doing your flips.

I even did some of the work myself. I learned how to do a lot of stuff like a little electrical, plumbing, some painting, cabinets, and all that stuff. I was in there doing that too. I didn’t have a full-time job. I had three jobs. I worked as a temp on days that I could. They would call me up for short-term jobs. At night, I had a job with a company called Rinse.com. I don’t know if they’re still around. I loved it. I was a recruiter for them. On the weekends, I was a brand ambassador for Dos Equis and Heineken. I got to do that too. It was three jobs to support rent and mortgage. I ended up living in my second flip because I was like, “I don’t want to have to grind this hard.”

When did you start expanding? When did you go full-time? That was two years afterward.

Two years into my real estate journey, I had flipped about four properties, and I was working on my fifth. I got the idea to get my real estate license. I had done the math on how much more I could make. It would completely supplement what I was making at the job. I was like, “I can never grow in real estate if I’m not completely focused on it.”

It’s really good to hang out with people with similar interests and who are in the same path.

At the time, I was getting offered my dream job in human resources and recruiting. It was something that I had wanted to do. For a startup company, there was a ton of growth potential. I was reading The 4-Hour Workweek at the time. I was like, “I have to make a decision. It’s either a dream job or a dream life. I want to give myself my dream job and be in control of my future, finances, and job responsibilities.” I told them, “I wish I could take the position, but I am going to quit.”

You’re going to bet on yourself, go out there, and go full-time. That’s a huge decision. It’s not one that people should take lightly because you need to make sure that you’ve got enough wind behind your back to feel comfortable and confident moving forward as a real estate entrepreneur. We have a lot of people reading. If you want to watch this, please join us on the Brent Daniels channel. Six months of reserves help you because you don’t want to be stressed, don’t want to have anxiety, and don’t want all of these other things compounding while you’re trying to build your business.

You want to feel comfortable and secure and have enough experience so that you can go forward, make an impact, and take your business from $80,000 to $360,000, which is incredible. You went from $60,000 to $80,000 in that year and then jumped up to $360,000. Let’s talk about wholesaling real estate. That’s why we’re here. When did that come around? When did you discover what wholesaling was?

I discovered what wholesaling was when I was reading the first book, 1-2-3 Flip. I wanted to do it, but I didn’t have any time to do it. I flipped about fourteen properties. I had met one of my good friends who do flips now. We traded information. I met him at the flip that I was going to buy from him. It was the first wholesaler I had ever worked with. I was always skeptical. I wanted to go on the MLS, but the MLS wasn’t bringing me as many deals as I wanted and not as good of a price.

I found this deal, and I was like, “I’m going to be out there.” I was supposed to send my contractor, and thank God I didn’t. My contractor ended up not being able to go. I went, met him, and talked to him and to people about wholesaling because he was like, “Can you teach me how to flip houses?” I was like, “I want to learn how to find properties off-market. Can you teach me how to wholesale?” He was like, “Let’s trade info. We will stay in touch. You buy this house from me, and we can work together.”

At the closing table, I saw that he made $27,000 on the spread. People might comp your pockets. I’m not going to comp your pockets. I’m like, “I don’t want to be like you. If you want to do what I’m doing, I’m going to make $30,000 to $40,000 on this. You already made almost $30,000. What am I doing? If I would’ve found this deal off-market, I would have made $60,000 on it.” We helped each other and taught each other. I got in with you. That’s where it all started.

It’s interesting that you saw it at $27,000. It took me to see three deals worth $92,000 to figure out what was going on with wholesaling. At least you found it a lot earlier. Are you reading a lot of books? Is this something normal? Are you implementing a lot of the things that you’re reading? You’ve mentioned two books that you’ve implemented right away. What does your reading schedule look like?

I used to read, and now I do podcasts more. I listen to this show, BiggerPockets, and stuff like that. I’m more of a listener nowadays because I’m so active. I can’t sit still for too long. I pop in my earbuds at the gym, in the car, on a walk with my dog, or in the shower. With my hair, I take an hour to deep condition. I put on a podcast or something. That’s where I do most of my learning these days.

I’m talking to people. Most of my friends do wholesale too. I have a pretty big network of friends that I met doing this business. I ask them tons of questions all the time. Pre-COVID, I had a little Meetup going on that we would all go to. They’re all around my age too. It was good to hang out with people with similar interests and the same paths.

WI 949 | Real Estate Wholesaling

It’s so critical. Those people end up being your squad and on your personal board of directors. You want people out there doing amazing things, being proactive, having big goals, and taking action to hit those big goals. I’ve seen it here in Phoenix. We’ve got a lot of the “gurus,” coaches, or coaching companies based out of Phoenix, but we all started as individual guys going out there, knocking on doors, making calls, and then expanding. To everybody reading this, listen to what Tasha is doing.

Get your squad, find the people in town that are doing this business, and be surrounded by them because nothing is worse than feeling like you’re on an island all by yourself out there, hoping to get some deals and hoping that your family is going to support your decision to do this crazy business called wholesaling real estate. Tasha, let’s break down a big juicy deal. I want to know where you found it, what strategy, if you wholesaled it, flipped, developed it, or whatever you want to talk about. I want to break down a deal so that everybody can get the nitty-gritty of how you find your opportunities.

I have two deals in mind. The first one that I’m going to talk about is my favorite so far because I’ve gotten $0 into it and not a ton of time. I had a property that I cold-called for someone because he wanted to purchase that property and didn’t want to pay the price that the seller was asking for. I told him, “This is a great price. It’s only going to go up. You own the lots next door. You have got to go for this deal.” It’s zoned CS Residential, which means you can put short-term rentals on it here in Nashville because we have a lot of restrictions.

Short-term rentals in Nashville are big. We’ve got a big vacation market. We’re the second-biggest bachelorette party city in the US, next to Vegas. There’s Vegas and Nashville. It’s big to be able to have short-term rentals to develop. He was like, “It’s not worth it to me. I’m not going to use it for that.” I came across another investor, and he was like, “I’m looking for short-term rental development. If you ever come across one, let me know. We can partner. I know how to syndicate. I’ve got a great builder.”

I was like, “That works out for me. Let me double-check with my investor, make sure that he doesn’t want to make an offer on this property at the asking price, and let him know that we’re probably going to go under contract with someone else.” I talked to him about it. He was like, “It’s fine. I don’t want it at that price.” I was like, “We got ourselves a deal. I want to partner on it. I want to be able to list it. I want to be fully involved. I’m not going to charge you a wholesale fee. I just want a percentage.”

You can build twenty units. It’s going to be a $5 million sale or probably more because five years will pass before they sell it. We’re going to rent them Airbnb, Vrbo, and short-term rent them for five years to buffer ourselves for taxes and whatnot. It’s $0 in and two hours total of my time skip tracing and talking to the seller a few times. It’s going to be 10% for me on the rent and then 10% on the sale. If we list it on the market instead of presale it, I get to list it for 4%.

That is incredible. How much time did that take you to get 10% equity in a $5 million deal and 10% of rent? We’re not talking about running the mill rents. We’re talking about short-term rental rents and Airbnb rents.

They’re probably going to gross $60,000 to $80,000 or more by a month or a year each.

It’s a lot. You’re getting $60,000 a month or a year for each unit. That’s $1.2 million. There are a bunch of costs involved in short-term rentals, but this is what I’m talking about. What we talk about all the time on this show is having quality conversations with property owners, especially distressed property owners.

The goal in real estate is to be able to do what you want when you want, to not have anyone stop you, even yourself.

This one is a development deal. This one is going to take a long time to unfold. It’s going to be a long process to build these. It’s probably 2 to 3 years to build them and get them stabilized and another two years of holding them, renting them out, and then getting an exit in five years. It’s planting seeds. What else? You have no money for this. This is an infinite return on investment.

The same investor who did this indication for me gave me a wholesale deal. I got to sell one of his flips that he wanted to cash out on.

I’m talking about opportunity. If you are silent and you’re not on your phone all the time, this phone is our portal to whatever you want. It is a portal to financial freedom. You got to use it, get on the phone, and have conversations. Every successful person is on the phone all day long. They’re talking to people all the time. I don’t care what the industry is. They’re always communicating. Go out there, be brave, have courage, be like Tasha here, make those calls, and find those opportunities. What’s deal number two?

Deal number two is one of my favorites. Usually, I keep deals where I have $100,000 or more equity in them, but this one was more of a flip. I don’t do that anymore. It takes me a lot of time and stress. I want to focus on quicker or long-term avenues. We found a cabin out in the Smoky Mountains area. It was something that someone lived in. It was an estate. There were six sellers involved. They wanted to get out. They wanted $250,000, $285,000, or something like that. We ended up selling it for a net of $134,000. Somebody bought it and flipped it. They’re going to BRRRR it and keep it as a short-term rental.

How did you find the deal?

My cold caller sent it to my acquisition manager, and my acquisitions manager followed up. It took us maybe 60 days from entering it into our system to get it under.

Do you remember what list it was on?

I know that it was an absentee owner and high-equity, but I don’t know the exact list. I do have that somewhere in my system.

An absentee owner is somebody who doesn’t live on that property. Maybe it’s a vacation home, vacation rental, or straight-up rental. They have owned it for a long time, which means they have probably built up a significant amount of equity. That’s what you want to look for when you’re out there finding these opportunities. Look for properties that were built before 1990 because we want them to be a little bit rough.

WI 949 | Real Estate Wholesaling

Real Estate Wholesaling: If you have a team of acquisitions managers, it’s important to under-price things.

 

Look for properties that have been owned for at least seven years because seven years is the average of people owning property, and then they sell it. Go for the properties that people don’t live in because there are fewer strings attached if it’s a vacant property. It’s like, “I want to sell it. There you go.” The deal gets done. What did you lock it up and sell it for?

We got it for $250,000 and sold it for $385,000. If you have a team of acquisitions managers, it’s important to underprice things. We were new to the market over there. I wasn’t quite sure how to price things. I got lucky. He had no idea what to offer. He was like, “$250,000 is going to work here.” I was like, “$250,000 is going to work here too.” We dig into the numbers after we already have it under contract. We were like, “I’m glad we did an offer more than that.” Start low. It’s all profit from one call.

Do you have a virtual assistant make the call?

I have cold callers that make all the calls and then send them into our CRM, Podio. The acquisitions manager follows up from there. I have a cold caller, and then it goes to my dispo guy. My dispo guy runs the numbers, makes the offers, and then sends them to acquisitions. The acquisitions continue to follow up. If it goes cold, he sends it to the lead specialist. The lead specialist follows up with the cold leads while he and she focus on hot and warm leads.

There are two deal breakdowns here, one of which is going to be incredible. It’s 10% equity in a $5 million property with 10% rents on $1.2 million coming in income. That’s gross. That’s not net. Don’t get too crazy, but it’s significant. Let’s be honest. It’s $135,000 cash from two phone calls or conversations. This is the proof that you need. If you’ve been sitting there and you’re wondering how people find these incredible deals, it is this simple.

You do not have to make this complicated. Find properties and get their phone number. You can get that at BatchSkipTracing.com. You get their phone number. You will call them up and ask them if they would consider an offer. When you do that, there are only six responses they give you, “1.) Yes, I do want to sell. 2.) No, I don’t want to sell. Leave me alone. 3.) How much will you give me? 4.) Maybe in the future. 5.) Who are you? 6.) How did you get this number?”

Those are the only six responses you’re going to get when you ask somebody if they would consider an offer. When they say yes, you better be prepared to follow up and pre-qualify that property owner based on the condition of the property, their timeline to sell that property, their motivation to sell that or whatever their problem is, and their price.

You start asking enough people and pre-qualifying them based on the condition, timeline, motivation, and price. I’ll be sitting here interviewing you like I’m interviewing Tasha here because that’s exactly what she did and how she got to the point. You’re on track for $1 million in 2022 in gross income with your business, let alone all of the equity you’re building and all of your rental properties. You’re 28 years old in 2022. You’re going to be a millionaire before 30.

God willing, the goal in 2022 is $1.3 million. Everyone, pray for me.

WI 949 | Real Estate Wholesaling

Real Estate Wholesaling: God willing, the goal this year is 1.3 million.

 

I am so happy for you. I couldn’t be more thrilled. Coaching with you has been a real blessing because you get into it. You want to know the nitty-gritty and what to do right away. The best part is you implement it. You said at the beginning of this conversation, “I am coachable. I see something. I do it.” It is the absolute truth. What does the future look like? What’s your big goal? When you’re thinking 5, 10, 15, to 20 years out, where do you see yourself? What does that look like?

In 5, 10, 15, to 20 years, I want to have a ton of rental properties, short-term rental properties, and financial freedom. I want to watch my business from the outside and not in it. I want to enjoy my life. I want to do whatever I want to do when I want to do it. That’s how I started in real estate. The goal was to be able to do what I wanted when I wanted. I don’t want anyone to stop me, not even myself.

You’re going to do it. It’s the truth. I can see the discipline you have in taking deals off the table to add to your portfolio. It’s incredible, plus the development that you’re doing. It’s going to be exciting watching you over the next few years. Thank you. How can people get ahold of you? It’s people that are in Nashville who want to squad up. You’re going to be a magnet for people in Nashville who want to be around your energy, enthusiasm, and confidence. How do people connect with you?

You can find me on Instagram. It’s @TashaR0se. My business page is @TheRenovationQueen. You can connect on either one of those.

Thank you so much for being on here, Tasha. What an inspiration. Thank you. This is a great conversation.

I love working with you, Brent. You’ve been awesome.

You do all the hard work. It’s easy for me. That’s incredible.

You guide me, and I do it.

You’re the best. That wraps up this conversation. Remember, have courage, be brave, and go out there. Statistically, 6% to 10% of our real estate market is in distress at all times. That means millions. There are 141 million properties in the United States. Ten percent is huge. There are millions of properties. There are so many opportunities out there for you, but you have to take that first step and build up your faith, and you need to go. You have that strength and mindset that knows that you can keep doing that.

If you’re interested in joining the most proactive group in real estate investing and learning how you can, “Watch your business from the outside, not the inside,” that’s what we coach and what we’re talking about in the TTP coaching program. Go to WholesalingInc.com/TTP. Check out what it’s all about and all the incredible wholesalers that I’ve had the pleasure to work with personally. If it feels good in your gut, sign up for a call. I look forward to working with you personally. As always, I sign off by telling you that I love you. Go out there and talk to people. Until next time. I’ll see you.

 

Important Links

 

About Brent Daniels

WI 949 | 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, and “don’t-wait-around-for-business” attitude to help you CRUSH your wholesaling goals as quickly and easily as possible!

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