Posted on: September 28, 2017

Just when you think you’ve heard everything there is to hear about Wholesaling, someone shares a story that surprises you.

Anthony Muffi just started Wholesaling a few months ago, but he has already closed six deals worth $92k – and he’s only Wholesaling part-time! He has some incredible tips, and serves as a great inspiration, for Rhino Nation.

 

The Deal

  • Anthony received a call from a very talkative and upfront property owner, but they didn’t fit the typical definition of a motivated seller.
  • Although there was no obvious motivation, they only wanted about 50% of the ARV for the house. They were fairly wealthy, private individuals, and they really just didn’t want to deal with the hassle of selling a house through a realtor; they wanted speed and convenience more than money.
  • Anthony originally offered $260k for the house (a low ball offer), and they settled on $290k. The ARV of the property is over $600k.
  • Anthony was asking his cash buyers for $335k for the contract. After two showings, Anthony received an offer for $315k… but he didn’t accept it immediately. Later that evening, he received a call from another buyer who offered $345k.
  • After the deal closed, Anthony secured a $55,000 assignment!

 

Just two months after Anthony started Wholesaling part time – for just 10 hours a week – he made enough money to achieve his family’s financial goal: his wife was able to quit her job and stay at home to take care of their kids.

 

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Episode Transcription

Cody Hofhine: Welcome to another episode here on Wholesaling Inc, brought to you by Investor Grit. My name is Cody Hofhine, I’ll be today’s host. Today we have an amazing story. In fact, some of these things are so new for even me to hear. Just when you think you’ve heard everything there is about wholesaling, you’ll have a student call in and share their story, like, “Holy smokes, I’ve never heard this before. So unique.” So today we have a gentleman by the name of Anthony Muffi. He’s from Pittsburgh, Pennsylvania and he started wholesaling just in February, so not too long ago. Just a few short months he’s been doing this, he’s married, has two kids, he’s already closed six deals. Now the best part about this, these six deals have paid him so far $92,000. If you kind of do that by the six months that he’s been doing it, that’s almost 15,000 a month just in wholesaling, doing super well.
Now even better is he’s doing this part time. He only does about 10 hours a week as he works a full time job. This is going to be very inspiring to each one of you that are listening today, Rhino Nation. I want you to get a pad of paper. I want you to get a pencil down or a pen and I want you to jot down these notes because I know there’s so many people out there that work the nine to five and they’re wondering how do I do this? Can I make this work? This is the podcast for you. This is the one you want to listen to over and over again because he’s going to share gold nuggets that you can implement today so that you can be successful and be one step closer to your first deal or second deal or whatever deal it may be that you’re on or just walking away from that nine to five job.
So let’s bring on Anthony Muffi. Anthony, how you doing, my man?

Anthony: Doing great, Cody. Great to be here. It’s an honor.

Cody Hofhine: It is exciting. I sit here and I’m looking at just my show notes of introduction of who you are all about you. This is something pretty unique. The fact that you can work 10 hours a week, you’ve done six deals that have closed so far, paid you $92,000, you have two more that are going to be closing that’ll bring in another 25,000. This is big stuff and you’re not putting in that many hours each week to receive this kind of money. That is absolutely incredible.

Anthony: Yeah, it’s been amazing. Joining the tribe and just taking the instruction that you guys have given has just been gold for me.

Cody Hofhine: Well, I can tell you, it also comes down to you, the student. You have taken massive action and I’ve absolutely loved that. So fill us in a little bit about your background, what you do. You say you do work a nine to five. Let us know a little bit about that. Fill us in about what you do and why it is you only do this about 10 hours a week.

Anthony: Yeah, sure. So I’ve been building houses here in Pittsburgh for the last 14 years. I work for a builder and just really enjoy my job. I like the new construction aspect. I like working with customers and it’s really a great job for me and it’s something I want to continue doing. Me and the wife are both working and both doing well, have a nice house, have nice cars, but at the end of the month we really just feel like just kind of living paycheck to paycheck a little bit and never really getting that far ahead with things. When we sat down and just talked about what we wanted to do moving forward for our children, we both really decided that it was best if my wife stayed home with the kids and just provided that extra care that she can do and we felt that would be best for our family. We looked to wholesaling to provide some extra income for us and joining the tribe really got things started in the right direction.

Cody Hofhine: That is awesome. So I love the fact that you’re sharing some of the over and above just real estate stuff or just wholesaling stuff is the fact that it meant so much to you to have your wife be at home and do what she does best and be a mom and help raise your two kids. That is awesome stuff. That’s good to share with our listeners because a lot of people are looking themselves for exactly what it is that they want to do in their own life. So that’s awesome that you give that side of it as well because wholesaling has ultimately led you to where your wife could be at home full time, which is super cool to help you achieve your goals as well.

Anthony: Oh yeah, absolutely. It’s been great in that regard.

Cody Hofhine: So let’s deep dive a deal. It looks like you have plenty to deep dive, but I know just talking before we started this podcast, which one we’re going to deep dive and I think it’s the right one so that you can inspire people, but I sit here and chuckled, smiled because how this all went together and the chances of coming across the seller that you come across in this deal is so once in a lifetime that this is going to be absolutely awesome to share your story, to let people know that you just never know where you’re going to get your next deal from. So let’s deep dive right from the get go. Talk about if this was a direct mail, if it was a bandit sign, what’s your marketing form? And then if it was direct mail, what lists were you mailing to to get this lead?

Anthony: Okay, great. Yeah, this was a direct mail campaign that I started and this came off of a high equity list and really just some of the new criteria that you guys provided with the tribe really helped to define this one seller in a really unique situation. So got the call from a lady and real chatty lady, just couldn’t get her to stop talking. Talk about going through the script and asking questions. I barely had to ask this lady anything. She basically laid it all on the line for me.

Cody Hofhine: Are you sure you weren’t talking to Tom Krol?

Anthony: Yeah. Really. Oh, he can talk. He can talk. But, yeah. This, this one here. It was all right in front of me. I knew instantly that the plan that she was in, I knew the area was a great area, really gone up in value a lot over the last few years. I knew that the ARV is really high in this particular area, so got to look at the house. I was just amazed at how nice the house was. It was really a custom built home in a very affluent neighborhood, so not your typical wholesale deal. These people were not what you would classify a motivated seller. They were actually very wealthy individuals, had a lot of money, had another house built across town that was much bigger, much nicer. But this one here was just kind of a house that they didn’t need anymore and they had moved down a bit about three months ago. Just let it sit there, really just hadn’t given it much thought and so when they got the postcard, they called me, I went out. They were asking about 350 for the house started the negotiating process.

Cody Hofhine: Now with this insight, let’s say they start at 350. Already when you went to the house, did you already know when this was fixed up, you said what would this be worth when it was all fixed up?

Anthony: Yeah. The ARVs is in that area were about 600.

Cody Hofhine: 600 and so they’re already almost 50% of what ARV of a home brought up to all the new fancy looks fixed up and modernized almost 50% of that already with this conversation.

Anthony: Yeah. Yeah. As soon as she said 350 I knew I had to get out there right away and get this thing under contract because this area was smoking hot and I knew it was going to be a deal for sure.

Cody Hofhine: So you’re talking to also a little bit maybe a background about this a couple. Mainly you book this appointment just because the price already sounded great because really it didn’t, like you said, it didn’t sound like there as much motivation like “Hey, we’re not behind on taxes, we’re not behind on our mortgage. We have plenty of money, we’re wealthy people. In fact, we’re building a brand new, bigger, better, sweeter house across the town.” So this is like already getting to be that much more interesting because so many times we think it just has to be motivation. It just has to be someone that is behind on taxes or behind on their mortgage, but this is clearly a story where these people had plenty of money it sounds like. It was just they reached out to you for some reason, I guess we’ll find out.

Anthony: Yeah. Yeah. It was weird. The reason, they just didn’t want to list it with a realtor, they didn’t want to have showings, they didn’t want all the neighbors poking around and nabbing through their house, they really were just kind of very private individuals. They knew that if they sold it to me that it was a done deal. They wouldn’t have to go and show it all these times and have everybody looking through their house. It was mainly about a convenience factor for them, more than anything. I built that trust with them, started the negotiation process, I came in uncomfortably low like you guys teach us, started at 260 and of course right away they’re like, “Oh we could never take 260.” Then, the brother-in-law was there and he’d like “260. If you’re going to sell for 260, I’m going to buy it.” We had to go back and forth. I had to get the brother-in-law to leave and finally got it under contract for 290.

Cody Hofhine: 290. Well hold on, let’s lead up to this because this… So they start at 350 and then you do the whole entire start a little bit lower and start your negotiation, work your way. “Hey, I might be able to do 260”, you work it up to the point where you can get where it’s a win-win. 290. Now, I want our listeners to really listen to this, like this is so key. These individuals, they had money, but there’s three things and Tom talks about this quite a bit, as well that I think brings the truth as he talks about. There’s three things that come to a sale of a home and that speed, convenience and money or price. You can’t have all three, you can have two, what two do you want? This is a perfect scenario where speed and convenience were the two that these individuals selected.
They were willing to sacrifice or give away some of the equity for the fact that you could provide speed and convenience and those are the two of the three options that they pick, so speed, convenience and price. They went for speed and convenience. Because of that you were able to get your price. You put under contract at 290. Man, oh man. We’re getting to this so quick, but from there, what did the process look like? You put it under contract. What did you do right after that? Was this something that you already knew investors that would be screaming over this or what did that look like?

Anthony: Well, I went ahead and sent it out my cash buyers list and I had a showing and I had about six people there but when they all saw it, it was just tough because not a lot of guys here had the kind of cash and put it together and put another a hundred thousand into it. So first showing came and went, didn’t have any offers, had another showing the following weekend. At that point, I had called some additional cash buyers that I had reached out to. A couple in the area that I knew liked this particular area. So at that showing, I had four different buyers and right there on the spot, one of the guys wanted to offer me 315 for it and I said that’s a great offer. Let me think about it. I said go ahead and send me an email. Just let me know later tonight what your highest and best offer is because I have two buyers here that are interested. And so I didn’t take that off that off right away.

Cody Hofhine: What were you asking at this point? Like what were you asking for on the cash buyers?

Anthony: I was asking 335.

Cody Hofhine: 335, okay.

Anthony: Yeah, so he came in low. He came in at 315, so I said let me wait for all the offers come in. I got a call later that night and one of the ladies that was there just loved the area actually wanted to move into the house and she said, “Look, I’m not playing games here. I’m not going to do this whole negotiating thing. Here’s my offer. It’s 345. Let’s get this done.”

Cody Hofhine: Oh, wait. I was sitting here listening attentively and then I had to really think so you’re asking 335, this particular buyer wants it for their own home and now they’re like, “Hey, let’s not play the games. I want this and I’m going to prove I want it and offered you 10,000 more than what you’re even asking.”

Anthony: That’s right. That’s right.

Cody Hofhine: Now I’m doing the math and correct me if I am wrong on this. Now, did you go forward? Did you move forward with this offer?

Anthony: Absolutely. Yeah. We went ahead and got the escrow deposit the following day, we got the $5,000 earnest money and started the title work right away.

Cody Hofhine: Holy smokes. So my math on this is you got under contract for 290, you have this inspection period where the fires go out, you find a buyer that wants it and she’s saying I’m not playing around. I want it. 345, that is a $55,000 assignment.

Anthony: That’s right.

Cody Hofhine: My man, hold on because you know it’s coming. All right, so we’ve got another rock star rhino that put forth a lot of effort. Go out, meet this individual because you can tell by the price, hey they’re motivated. They just want to get out of it. They don’t want the traditional sales. They probably could have, my guess, listed it for more than what you were paying them by quite a bit, but they don’t care. They didn’t need the money. That is the most interesting story that these people were loaded. These people were rich individuals, but it wasn’t about money. It was about how convenient you made it for them. I know one person’s looking at the house and doing it, that’s it. There are private people, they don’t want people walking through their house. That’s why I love this business so much because people always aren’t looking for the highest and best price.
That’s just the truth of it and a lot of times there’s people that don’t want to have people to have access to their home with a lockbox and they can go through it whenever they want to show the property and there’s going to be so many people walking through. I think this is absolutely amazing and why everyone needs to be thinking wholesaling because this is another story. I get the question all the time, Anthony, maybe you’ve heard this too yourself is why would anyone ever sell their house at a discount? How many times have you heard that?
We hear this all the time and this is, I think, even a better story than like our traditional stories of people that maybe need to move out quick or they’re moving out of state and they have to move in a week and a traditional listing isn’t going to happen because they need to move in seven days. But this is a person that had all the time in the world, sounds like they had plenty of money to do whatever they want to do with it, but yet they went with convenient, they went with speed and they’re willing to give you the price that you wanted, which is absolutely awesome. Ultimately, did you think at the beginning you are going to get $55,000 or are you just shooting for no and just like, hey, I’m going to go for as high as I can get and then see what happens?

Anthony: Yeah, I had no idea we’d come anywhere near that. It was just a true blessing for me and my family and really never would have been possible without the guidance I have received from you guys to this point, so it’s just been a true blessing.

Cody Hofhine: Anthony, you are the man, and I can tell by just your voice, you’ve got a good voice, a good character about you to just go out, and you probably build good rapport. You become their friend, you talk to them, and it’s so key. Just from listening to you, how you’re talking on this podcast, I can see that in all areas of your life where you’re probably just going out there and you’re really good at building relationship and trust, sitting down with them and ultimately came up with a win-win situation where they were able to get rid of their house, like they want to get rid of it and you were able to make a good amount of money. And ultimately, I’m assuming your wife is no longer working at work now a days.

Anthony: No, no, she did quit and I’m happy to say she’s at home with the kids, cooking us great dinners and just really giving the kids what they deserve and it’s been great for the whole family.

Cody Hofhine: That’s awesome. How long has she been able to be home as you’ve done wholesaling?

Anthony: She’s been off now for four months with the kids full time.

Cody Hofhine: Four months. This is probably one of my favorite things about wholesaling is how fast you and your wife sat down, you put together your goals, your dreams of what you want and how fast wholesaling has been able to help you accomplish that. It’s not like it’s a 5 year plan or a 10 year plan or a 1 year plan, for that matter. Two short months after you start, your wife is now at home full time because it happened that quick. That’s what I love about wholesaling.
I was able to do little goals that me and my wife set pretty quick. Some of them were goals that if I was still an insurance, it would have been maybe 10 years down the road and I was able to do it in a fraction of the time in maybe six months because of wholesaling and there’s just so many options with wholesaling that allow you to live the life that you want to live and on the terms that you want to live and really accomplish those goals at a quick, quick speed, which this is absolutely impressive. Two months after you sit down and have that conversation, she’s at home doing what she wants to do and be an incredible mom. So that’s absolutely awesome.

Anthony: Yeah, it’s been great. It’s been really a blessing. And really, Cody, like I said, I feel like I’m just scratching the surface of what I can do in this business in a short amount of time. I mean I really feel like I’m only doing maybe 1/10th of what’s really taught in the course and all the different things that you can do, all the different lists that you can go after and there’s just so many people that you can help in this business. It’s just a matter of putting in the time, getting in front of enough people and I think you’re going to get a deal. It’s just a matter of time.

Cody Hofhine: Well I can tell you yes, there’s a lot you can do. I say this with a smile, I hope you didn’t take that bad. I’m saying that because you’re doing 10 hours a week to get the return that you’re getting. That’s incredible. And that just kind of makes you look at it as what could 20 hours a week do, what could 30 hours a week do, what could an extra five hours a week do? There’s so many marketing channels, like you said, you’re only hitting one of the nine list that we talk about. You’re hitting one. So there’s eight more lists for you to absolutely dominate and capitalize with. So that’s absolutely awesome. You’re inspiring your helping people that are listening to this right now that are thinking, how do I do this? How do I get past this nine to five or can I do this doing 10 hours a week? Well, here’s living proof guys. You can do this if you have 10 hours a week. So, that’s awesome stuff.

Anthony: Absolutely. Yeah, it can be done. It’s just a matter of having the right knowledge. If you guys, you really just need to get a coach that can really teach you this stuff. It can be learned quickly. It’s not rocket science. It’s just having the right people around you that can teach you what you to know to do this business. Just being around the tribe, the coaching calls every week, the information is invaluable.

Cody Hofhine: Man. So, so, so, so true. If you had to start all over again, if you’re starting right from square one, and we have a ton of listeners that are at square one right now that are brand new to this, some maybe even the first time listening to this podcast, what gold nugget of advice, if you could say one thing that if you were starting all over again, start right at ground one, what would you say would be the best piece of advice that you could give them?

Anthony: I would say getting a coach was the best decision I made, just getting around the right people. Joining the tribe was just a great decision for me. The other thing I would say too is just really following the instructions step by step. In the beginning I thought that I could do bandit signs and I could just do this and that and just kind of put something together. But once I committed myself to some goals and just really committed myself to a mailing schedule of this consistently sending out mailers, consistently going on appointments, that’s when things started to pick up and I started to really bring in some revenue. Just really following the step-by-step process that’s laid out in the coaching program. That’s been the key for me.

Cody Hofhine: That’s phenomenal. Now you touched on something that’s key and I probably should say this more because it’s that crucial is over and above just the instruction that you’d receive, the key thing is surround yourself with people that are better than you. People that are already at the level or at the destination that you want to be at. The power is not for say just the coaching, but man, I would put our tribe, our community up against any tribe, any community because we’re all such go givers. I know when you say that what you mean just because I’m part of it. I love it and I love the fact that it’s probably more than just me and me and Tom. I bet you’ve had multiple times through the forum or through the group coach calls that you’re listening to the tribe members build you up and make you better and help you stay on track and literally, I can’t tell you how important, listeners, that it is to surround yourself with people that are better than you.
Jim Rowan says you’re the average or the sum of the five closest individuals you hang out with, but not just hanging out with five people that also want to wholesale or also if you want to be spiritual, that also want to be spiritual. It’s saying go hang out with five people that are already at the destination you want to be at. Go hang out with those individuals and then watch how quick you become them because you start to live the way they live. You start to do the things that they do and you can only become what they are because you’re doing exactly what they’re doing.

Anthony: Oh yeah, so true, Cody. There’s been so many tribe members that have been helpful throughout the process. Darrell Patterson’s right here in Pittsburgh with me. He does a phenomenal job. He’s killing it and he’s been very helpful as far as how to find an attorney, who to close with, just different things. Just a total Go-Giver, so many people like that in the tribe. Just listening to the coaching calls every week, I listened to each one of them two or three times, I gained more knowledge every time I learned from those guys and the tribe is amazing. Everybody’s trying to help each other out, so it’s really a great community that we have set up here.

Cody Hofhine: I love it. What about a book? I know you’re a reader. What be your number one book? If you could throw out one book to our listeners that they would say, “Hey, go out and pick this up. And this is the reason why.”

Anthony: I would say the Go-Giver for sure.

Cody Hofhine: The Go-Giver, Brent Daniel’s favorite, and I love that book, but Brent Daniels, he reads that book weekly, which I think is impressive. What is it that you like in the Go-Giver that really resonated with you?

Anthony: I think it’s just really about helping people around you, not always being about what you can get out of a deal, but also trying to help that seller out of their situation. I just did a closing today and the seller was just so happy that they got my card and the timing was right for them. Everything worked out great with what they had going on in their life and to walk away from that deal, they got a check for 6,500, I got a check for 6,500 and everybody won. So it was just a great situation. You’re not always out for yourself. You’re trying to help these people out and you can do a lot of good in this business.

Cody Hofhine: That’s the byproduct is a good payday is just go out there, serve individuals, love them, help them through what they’re trying to go through, help them solve and be a solution to their situation. And the byproduct always is you can get paid for it. So yeah, I agree with you 100% will Anthony, my man, I appreciate you so much for being on the podcast today. I know you are going to get off and go right back to constructing homes and being part of that, as well as doing some wholesaling on the side. Thank you so much though for taking a piece of your day away to pour into Rhino Nation and inspire them and build them up and letting them know that they can do this.

Anthony: Absolutely Cody, anytime. It’s been an honor to talk to you today.

Cody Hofhine: Thank you, thank you. You go out there and take massive action, my friend and I know it won’t be long before you’re sharing with me some more of your closes, as you already have two more clothes in the next couple of weeks for 25,000, which is super impressive.

Anthony: Yep. Yep. Awesome. Thanks a lot, Cody.

Cody Hofhine: You’re so, so very welcome. Thanks for joining us and for you, Rhino Nation. Thank you for joining us. It truly is an honor to have you guys with us each and every time on this podcast. It’s for you guys that we do this. Hopefully you’ve pulled down some golden nuggets, hopefully you’ve jotted down things that stood out to you that you can implement instantly today so that you can go out and crush it in your wholesaling business so you can get one step closer to your next deal.
There was so many good gold nuggets, so much value in this podcast that I would tell you right now download it and re listen to it over and over again. This is for you. These are for you that are working the nine to five. You can do this. I know you can and as you implement the things that Anthony talked about, you will do your first deal and it will be huge. It will be life changing if you really want us to help you as well, if you want us to step in and help you build this wholesaling business, go out to wholesalinginc.com, that’s wholesalinginc.com and you can book a call with our team and if we like what you have to say, we just might invite you to be part of the tribe. Until next time Rhino Nation, take care and we’ll see on the next podcast. See you later.

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