Posted on: June 30, 2022
WI 984 | Real Estate Wholesaling

 

Char Hiaring has had over 50 jobs in his lifetime! He was making $13/hr and nearly broke until 2017. That’s when he discovered real estate and everything changed. Today Char is absolutely crushing it in wholesaling and he joins Brent Daniels to break down his wholesaling strategy, how he has built his referral network, how he made $60k from his first email blast and much more. If you’re inspired by Char’s story and want to learn how to find and close deals like he does, check out our TTP training.

How This Investor Went From Unemployable To Making $100k In His First Month Wholesaling

I want to welcome you to the show and to the Rhino Tribe from Idaho Falls, Char Hiaring. Char, how are you? It is good to have you on the show.

I am so good and I’m so happy to be here.

We’re going to open this up. Char has been doing some interesting deals and we’re going to break this all down as we get into this conversation. He has done tiny house developments that he has sold and wholesaled. He has done multifamily all across the board. This isn’t the typical 3-bed, 2-bath house episode. This is going to be exciting. Stick around to know what Char has going on because he has got some exciting strategies that he is going to share with everybody. First off, talk to us. How long have you been in real estate?

I’ve been in real estate for the past few years. I got in the game back in 2017.

What were you doing before you became a real estate investor and entrepreneur? What was your life like? Were you in school? Were you working in a job? Talk to us about that.

It’s a good motivational thing of what I was doing and where my life was before I got into real estate, and the mindset that I have now. Before real estate in 2017, I was bouncing from job to job. I kid you not, I’ve had over 50 jobs in my life. Ever since I found real estate, I’ve stuck with this longer than anything else I’ve been in five years, and I absolutely love it. My life before real estate was an interesting one. I was hanging around bad crowds, out drinking, and partying every weekend. I throw my life away and didn’t know what I wanted to do. I wanted to do something awesome and great, but I didn’t have the tools or the knowledge to get where I wanted to go.

 

What were these jobs? You’re unemployable and had 50 jobs, so why don’t you stick to being a business owner? That suits you a little bit better. What are some of these jobs that you’re doing to give people a perspective of your experience out there in the job market?

It was these jobs you get right out of high school. It was fast food and working at car washes. It was nothing too special. It was a run-of-the-mill, basic job, and making a little bit better than minimum wage. The problem I had was I would give it my all with these jobs. I crushed it for the company and expect them to do that back for me, pay me well, and take care of me. It never happened. I’m happy that it didn’t happen because if they would have given me that $20 or $15 an hour, I probably won’t be here. I would be working that job and not being an entrepreneur like I am now.

What made you decide to get into real estate, more specifically, wholesaling real estate after you’re doing all these jobs? There are so many different options out there. What pulled you into this beautiful industry of real estate investing and wholesaling?

There are two parts to that. One of them was an ex-girlfriend who could see that I want to do more with my life. She was pushing me to read this book. Everybody knows what book that is. She said to me, “If we stay together or if we break up, I want you to do one thing. I want you to read this book.” It was Rich Dad Poor Dad. I pick up the book and read it. I feel like it was the missing link to my life because I’ve never been taught financial education. My parents were super poor. We grew up that way. I was never taught about money or how to do any of these things. That book completely blew my mind and it was crazy.

The other part of that was the job that I was working at the time, I was making for them $100,000 a day. I was crushing it in sales. The thing that tipped me over the edge was when they had hired a new girl and started paying her more money than me. She had a role that was below mine. I said, “I’m not going to do this anymore. I quit.” They started paying her $20 an hour and I was getting $13. I was crushing it and doing everything. I’m like, “I’m done. I’m not going to do this.”

After reading Rich Dad Poor Dad and my ex-girlfriend told me that I should read this book. The book talks about real estate all the time. I had in my head pounded, “I should get a job selling real estate.” I thought that was going to answer all my problems. I need to get a high-paying job and it needs to be in real estate. What I did is I drafted up a nice resume that wasn’t 100% true. I had been to over 50 interviews. I’ve gotten good at interviewing, talking to people, and landing these jobs because I had so much experience in these interviews.

I got an interview for this company to be a salesperson selling manufactured tiny homes. I told myself, “I’m going to go to this job interview. I’m going to crush it.” The pay at this job was anywhere from $70,000 to $200,000 a year. I had never seen that kind of money. The most I had ever made was $30,000 a year.

Don’t throw your life away with things that aren’t serving you any purpose. Real estate is the way to go. You might not have the tools and knowledge right now but you can learn.

You were at $13 an hour.

That equals out to $26,000 or $30,000, give or take. It wasn’t much. I was pinching pennies. I had a fancy sports car that was taking all my money. I was going to the bar every weekend. I would wake up on Monday and ask myself, “Why am I broke? Why do I have no money?” I didn’t realize that my behaviors, my habits, and the people surrounding me were the problem. Getting this job selling these manufactured and modular homes changed my life and trajectory for the better.

You were doing a job that you were getting paid $13 an hour and making them $100,000. What was the job before this job that they hired somebody else that was getting paid more than you? It seems like this was the fork in the road. What was that? It sounds like sales.

It was selling metal roofs. What it was is that the economy started popping, and all this money started to flow into the economy. People started replacing their roofs, sidings, and all this stuff. The company started popping off. We had all these contractors coming in and placing these big orders. I was building relationships with these contractors and pulling strings for them. I had these contractors give me $100 under the table to put their orders in front of other people.

I built these relationships and I got all these contractors to use us versus the competition. I felt like I was making it and I was crushing it for this business and they were going to take care of me. The truth was they didn’t. I’m glad they told me no to $20 an hour. If they would’ve said yes, I probably would have still been there. I would have never gone on the path that I’m on now.

You get a job selling mini homes, right?

Manufactured tiny homes.

WI 984 | Real Estate Wholesaling

Real Estate Wholesaling: Show people what you’re really doing on social media. Don’t hide anything.

 

Are we talking like the shows on Netflix like tiny home living? You pull them over to a piece of land and you live in this tiny little 100, 200 or 300-square-foot house.

That’s exactly what it is. I was selling them because these homes are built in a factory up in Boise, Idaho. They decided to roll out a product that was these little mini homes that are about 400 square feet. We also sold manufactured homes. The tiny homes were a hit. We would line up the tiny homes across the highway to bring in the traffic. We would add these people to our pipeline and talk to them. They came in for a reason, but the tiny homes drew people in. Even on social media, it got so much attention. In a year, we grew our Facebook page to over 10,000 people on it just for our little town. It was insane.

It didn’t stop there with social media. You are very active. You’ve got a ton of people following you on TikTok and Instagram, and that’s growing. Let’s transition into that. How is that affecting your business right now, whether it be getting deals or selling deals? How is that affecting being loud? I talk about it all the time. Don’t be a secret real estate investor. You need to go out there and let everybody know what you’re doing. You got to have that energy and excitement about every part of real estate and every part of the process. You document that and people follow you on the journey. All of a sudden, they start sending you opportunities. Are you seeing that? What are you seeing on your social media?

I tell people this in real estate, “Give and it will be given.” What that is I’m always willing to show people exactly what I’m doing on social media. I don’t hide anything. I don’t hide my secrets from anybody or what I’m doing. I’m always willing to share that on social media. It has been such a huge benefit. I get a lot of people who reach out to me and they want to JV because of my social media presence or the knowledge that I have in real estate.

Social media has been such a game-changer for me. It has brought me a lot of deals and relationships that have changed the dynamic of my wholesaling business. I’m a real estate agent as well. It has even changed that business where I’m crushing it as a real estate agent. I haven’t advertised at all and it’s all referral business. A lot of it comes from social media.

How are you balancing being a real estate agent, a wholesaler and an investor? How are you doing in both of those roles? Are you transitioning your business? Are you getting out of a more traditional real estate agent business into more of wholesaling or investor?

A lot of late nights and no weekends is what it is. To touch on that, I don’t do too much as a real estate agent. I’m picky with what I select or what I take on. As far as buyers go, they eat up a lot of time. I don’t take on buyers unless it’s a good friend, family member, or somebody who knows what they want. They’re like, “Make an offer on this. All you have to do is write the offer and we’re good to go.”

If you want to succeed in real estate, you have to consistently strive to be better in this industry. It should never stop. You have to always strive to get better.

Listings as well. I’ll screen the seller and see how serious they are or if they’re a pain to work with. If they’re super easy, my job is easy. I could just list it and collect a check. I’ll have to do some work, represent them on their behalf, and take care of them. It’s not too much work to do a listing, especially if you have a super chill seller.

Talk to us about your wholesaling business. What does it look like in 2022? You’ve been in real estate and have been building a lot of momentum. Are you in smaller markets? Are you getting into the bigger Boise markets or staying in the smaller markets?

We’ve found a lot of success in some of these smaller markets and we’ve crushed it with revenue. To touch on that too, our wholesale fees are astronomical. They’re huge. We closed on one which was a $60,000 assignment fee. On average, most of them are about $35,000. That’s what we’re doing. The market in Idaho Falls is 80,000 people. Twin Falls has 80,000 people. Pocatello has 65,000 or maybe 70,000 people.

With my knowledge in real estate and doing this for so long, I like to use my creative mind to get into the nitty-gritty, and see how I, my business partner, and my business can get deals and how we can be different from everybody else. My mind and the way that I operate is I never shut it off. After 5:00 or 6:00 or whenever, people clock out for the day. I always go home and think, “How can we make this better? How can we be more creative? How can we get the deals? How can we do it better than everybody else in this industry that’s doing it? It never stops. I enjoy it and that’s why it never stops because I’m super competitive. I want to be the best at what I do. That’s why I do it every single day.

What do you go after? Are you going after the traditional deals? I teed it up on some of these other things that you’re going after. Are you going after single-family houses, land or multifamily? With only 240,000 people in an area, we’re talking maybe 100,000, 120,000 or 150,000 houses or properties. There are still a good amount of opportunities if we know that 6% to 10% of those properties are going to be in distress at any time. You’re somewhere between 8,000 and 12,000 houses that are in distress. How are you targeting those?

I’ve touched on the first part of that. We started out with single-family homes. We thought that was the bread and butter and how we can make our money, and for good reason too. My business partner was a full-time electrician and I was a real estate agent. I was flipping homes on the side and I said, “I want to be an investor. I don’t want to be an agent anymore. I want to build a business. I think wholesaling is the way.”

In our first month in business, we made $100,000 in profit. The good reason part I touched on was those came from single-family homes that we found. We started out with single-family homes and we thought that was the bread and butter. We then started moving to lots. We started finding these vacant lots and found that investors will pay top dollar for these vacant lots, especially if they’re zoned where you can build multifamily on them. They’ll pay a tremendous amount for them, especially off-market. They won’t pay as much as if you put it on the market because off-market, you have to sell for a little bit less.

WI 984 | Real Estate Wholesaling

Real Estate Wholesaling: We thought single-family homes are the bread and butter. But off market, you have to sell for a little bit less. We started realizing that multi-family was the way to go. That’s what everybody wanted was multi-family.

 

We started realizing that multifamily was the cat’s meow. That’s what everybody wanted. I saw that from seeing homes on the market. We have all these single-family, but we had maybe one to no homes in our market that were single-family. They were listed at any given time. I said, “Why don’t we solve the problem of finding these multifamily units because we could sell them quickly for cash and get paid fast?” We started targeting multifamily housing and crushing it.

How did you target it? Did you pull a list? Was it from tax assessors? Did you pull it from PropStream or BatchLeads? How did you get the list of these multifamily properties? Isn’t it intimidating to go after these properties that maybe are 10, 12 or 40 units? Aren’t they owned by a bunch of big companies and they are not going to give you the time of day? Break through some of the hallucinations that we might have when we’re about to start going after the multifamily. First, where did you get the list? Second, how was the experience once you did reach out to them?

We didn’t start pulling lists from BatchLead or PropStream until I got my first mentor, Dan from BiggerPockets. He was a wholesaler. We got him in about 5 to 6 months in the business. That’s when we learn how to pull lists and get cold callers and all that. For the first six months, we were just driving for dollars. I was making the cold calls and we were calling agents. I was having my partner call agents all day long and say, “I’m a cash investor. I’m your quickest paycheck. I buy it as is. I make it convenient for the seller and I can get your double commission. What more could you want? A paycheck in 7 days, 6% commission. I’ll be your best friend. I’ll make this as easy as possible.”

Agents became our best friends and we became their best friends because I thought, “How can we leverage our time and do it for free?” They’ll work for free because the seller is going to pay the commission. We’re leveraging their time because they’re going to go out and find it. We don’t have to put the time in. We have to build and cultivate that relationship with them and get them to trust us. That’s what we did at first. We drove for dollars and called agents all day.

Are we talking commercial agents that represent multifamily?

Everything. What I did was I went to my local MLS and asked for every single agent’s name, number, and email. We email blast them on MailChimp. We got their phone numbers because they came with what the MLS gave us. We started calling them all day and telling them what we do and building that relationship. It worked. In our first email blast, we got a single-family residence. For our second one, we got a single-family residence. That was $60,000 in profit from those two emails.

Part of growing and building an unbelievably consistent and predictable wholesaling business is building your referral database. You got to go out there. If you can find 25 people that know, like, trust and respect you, they’re going to send you opportunities as they come across. These 25 people are typically agents or people in the real estate market, whether they be other investors or wholesalers.

Go out there. Build and cultivate relationships so people can trust you. That’s how you can profit from real estate.

The average is they send you four deals a year. That’s 100 deals a year if you have 25 referral partners out there sending you opportunities. That’s exactly what Char is talking about here. He’s building up an army of people that are going to refer him and his business partner business. Is there a deal that you want to break down that you feel was a good example of what it’s like to squat up, connect with, and build referral partners?

We had a real estate agent. What we did is we sent out this MailChimp email blast to an agent. What we had put in this email was, “My name is so-and-so. I’m a cash buyer. I’m looking for homes that are off-market or before they hit the market that needs a little bit of work, a fixer-upper. I have cash and I can close in seven days and I will buy this as is.” We sent out the email and we had an agent reach out and say, “I have a property that might work for you.”

We went and looked at the property. We decided it was a hit. It is a great property. We determined that the market value of this property in its given state was probably worth maybe $185,000. We haggled back and forth. We sent our first offer in at $90,000. The agent’s like, “That’s way too low. That’s not going to work.” We went back and forth and we agree on a price. It was $121,500. We ended up finding a cash buyer pretty shortly after that for $160,000 or maybe $155,000. We went on Facebook and found a local home flipper and it was that easy.

It was worth $185,000 and you sold it for $135,000?

The market value was $185,000. If we listed on MLS, we would have got $185,000 as is on market, but off-market for a cash investor, they’re not going to pay as much. It’s a little bit easier for us too because if this guy wants to buy cash, we don’t have to go with the hassle of throwing it back on the market, dealing with a bunch of showings, and agents. We got to sell to a local home flipper that we know does a great job and is going to give somebody a nice product when done.

If it’s totally fixed up, what does this property sell for?

That’s the funny part. The flipper tried to convince us that he was only going to sell it for $300,000 when done. He was haggling us on price. I’m like, “There’s no way you’re going to sell this for $300,000. You’re going to sell for way more. He ended up selling it for $375,000 when done. He put about $100,000 into it. He made a killing on it as well.

WI 984 | Real Estate Wholesaling

Real Estate Wholesaling: Make cold calls and make things as easy as possible so you can build great relationships.

 

For everybody that is reading this, you got a property that once fixed up would sell for $375,000. An agent brought you that deal and you were able to lock up that deal at $121,500. That is 33% of the fixed-up value. There’s no way in this market that you can get deals like that. I am telling you guys, every minute of every single day, a deal is going down like this.

Do not go in and assume you know what the seller wants. There are sellers that will trade potential equity for speed and convenience. You need to put that in your head. You got to believe in it. If you don’t truly believe that you can get unbelievable deals, you will not find unbelievable deals because you don’t get what you want. You get what you attract.

If you’re attracting that and saying, “There’s no way that can happen,” that’s what you’re going to get. If you’re saying, “Every single day, the deal of a lifetime comes around once a week,” you are going to find an unbelievable deal like Char had here. He said $300,000 and you got it over to him at $165,000. You probably could have sold it to him for $200,000.

I bet we could have. This was at a time when the market was still appreciating. He was basing it on where we were at then. We weren’t banking that we were going to get this another 21% appreciation the next year, and that helped him out to get the value at the $365,000 mark. To your point with what you said, the sellers are willing to trade the convenience for a cash offer and willing to get rid of equity for time and convenience, it’s exactly what the seller wanted. They didn’t want to put it on the market and have people walking through their house and dealing with that.

The people who do want that, you don’t want to spend your time with those people. You’re wasting your time because what you’re missing out on is the people who are willing to sell their house at a discount and looking for a cash buyer like yourself. A lot of people when they first get started, they’ll talk to whoever will talk to them. That’s a mistake that a lot of people make.

A lot of people will talk to them and they don’t know how to weave out who was real and who’s not real. That’s a problem I had when I first got into sales in the real estate business. I would talk to whoever would talk to me and my sales were crap the first six months. I had to weave out who was real and who could buy. It’s almost like who’s willing to sell. It’s a different set of criteria, but you break it down and you go through the motions and the steps. It’s almost all the same.

We’re deal finders, not deal creators. Put it up somewhere or keep it in front of you. We need to go out there and have quality conversations with distressed property owners and see if they want to sell, not just have a friendly conversation. Friendly conversations are great, but when you are looking for an unbelievable opportunity, replace your income, and grow a real business, you need to stay focused and keep conversations based on, “Does this person want to sell while I’m talking to them here?” We’re not just at a barbecue on my off-hours. This is business time. This is deal-finding time. This is a sacred time to go out there and be proactive.

A mistake that a lot of people make is they’re talking to a lot of people but they really don’t know how to weave out who is real and who’s not.

Make sure that you listen to Char and pre-qualify all of your property owners every single time. We pre-qualify based on the condition of the property, their timeline to sell, motivation to sell, and the price. You keep the conversation centered around those four things and you’re going to not waste your time and spin your wheels. You’re going to make a huge impact in your community. Based on my numbers, it looked like you netted over $43,000 on that deal. That is absolutely incredible. What were your marketing costs on this?

That was $0. The agent brought the deal.

That’s $43,000 net profit.

I’m all about those creative ways on how can we do stuff for free and leverage someone else’s time to bring us a deal and also build a relationship. These are the best thoughts that I have at the end of the night. I tell my girlfriend, “You should be a multimillionaire by now with all the ideas and thoughts I tell you at night when I get my best ideas.” I joke with her about that.

Do you share it with her?

I share all those good ideas.

Lead into that. Let’s talk about what you do for personal development. What do you do to build confidence? What do you do for your personal learning?

WI 984 | Real Estate Wholesaling

Real Estate Wholesaling: You have to know who to spend time with. If you don’t analyze which ones are quality conversations, you’re just wasting your time, because what you’re missing out on is the people who are willing to sell you at their house at a discount.

 

People always ask what my secret is. That’s why I’m willing to be so transparent and tell them everything that I’m doing like what is my marketing strategy and how I’m doing it. At the end of the day, what it comes down to is the mindset. How much will do you have to get up at 5:00 or 6:00 and make those cold calls, even though you know the seller is going to yell at you or tell you nasty things?

I find that this is a mindset thing. I’ve been building this mindset since 2017. I’ve been building it for a couple of years and I still build it to this day. It’s a lot of meditation, praying and reading books. I always tell people that diet is super important. Diet isn’t just what you eat. Diet is what you consume in your mind, what you listen to, what you watch, and who you surround yourself with.

Iron sharpens iron. Who you surround yourself with is who you become. That is the truest thing that I tell people. If I see somebody who is an alcoholic and has terrible financial, I already know that his friends or his closest peers are the same way. I can almost guarantee it. If I see a guy who’s a millionaire, his closest buddies are probably millionaires as well.

As we’re wrapping up this conversation, give people advice on how do they go out there, how do they start taking action, and how do they build confidence? They’re on this path. They found real estate investing and wholesaling. They found Wholesaling Inc podcast and they’re listening. What would you say to them for encouragement or action that they should be taking as they’re starting to build their business?

The biggest thing that you could take away from this is to stop wasting your life. What I mean by that is only people who are willing to offer you good value. Decide what you want to do. If you want to do real estate and become a wholesaler, surround yourself with people that have done it and been successful with it. Surround yourself with positive people that reinforce you, build you up, and help you out. Try to develop your mindset. Trade-in the video games and Netflix for books, podcasts, and YouTube videos. If you do that for six months and change the people that you’ve surrounded yourself with to quality people, I guarantee you that in six months, you won’t even recognize who you are.

How can people follow you? How can people get in touch with you? How can people reach out? Maybe they want to do a joint venture with you, sell you a deal, want to tell you a great job or be in your world. What’s the best way for them to do that?

Follow me on Instagram. Anybody who shoots me a message on Instagram, I always reply to them. I’m humbled that way where I remember being new and didn’t know where to go. I’ve pretty much built this thing from the ground up by myself. In the past few years, I’ve had a lot of great mentors who are better than me. One of them is you, Brent, and a couple of other people who have been in the business for a long time and done crazier and better things than me. Reach out to me on Instagram. Shoot me a DM and tell me what you got going on.

I helped a guy over in Connecticut. He was trying to wholesale a deal and I jumped on a Zoom call with him. I didn’t ask a JV or anything like that. I didn’t want him to get burned on his first deal. We walked through everything and I gave him a good trajectory on where to go, what to look out for, and what to do next to get himself into the position. If he wants to do this full-time, this is what he has to do moving forward.

Thank you, Char, for being on the show. If you’re reading this and he inspired you to connect with him, make sure that you connect with him. If you’re interested in joining the most proactive group in real estate investing, it is the TTP family. It is the TTP coaching program. Go to WholesalingInc.com/TTP. Check out what it’s all about.

I’ve had the honor and the privilege to be able to coach the best of the best around the country and they’re doing amazing things. If it feels good in your belly, make sure that you sign up for a call. I look forward to working with you personally. That is it. As always, I sign off encouraging you to go out there and talk to people. Until next time.

 

Important Links

 

About Brent Daniels

WI 550 | Converting More LeadsBrent 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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