Posted on: July 12, 2022
WI 992 | The Rhino Roadmap

 

We have a special episode today with two coaches – Lauren and David. They are joining forces today to talk about their starts in wholesaling and what it took to get their first deals and jumpstart their careers. Now they are taking that knowledge and packaging it in a comprehensive new program designed to get you your first deal: The Rhino Roadmap. They have taken their combined experiences of decades of wholesaling and helping newbies get started to create a program designed to get you started and succeeding in wholesaling today.

 

Show notes:

  • (0:48) – Beginning of today’s episode.
  • (1:45) – How Lauren Hardy got started in wholesaling.
  • (12:00) – The importance of having a game plan when transitioning into wholesaling.
  • (26:10) – How David Dodge’s got started in wholesaling.
  • (29:30) – The most impactful thing David did when he first started.
  • (34:06) – Introducing the Rhino Roadmap.

 

Resources:

  • Want to learn more? Check out our Rhino Roadmap program.
  • To speak with Lauren, David, or one of our other expert coaches, call (281) 835-4201 or schedule here.

The Rhino Roadmap – The Roadmap For Getting Into Wholesaling & Doing Your First Deal

 

We have a very special episode. In fact, I am so excited. I’m going to be co-hosting this episode with Lauren Hardy. Lauren, how are you?

I’m good. I’m excited, David. We’ve got some cool stuff going on now, so I’m stoked to be on this episode.

Likewise, I am super excited. In this episode, we’re going to talk about how Lauren and I got started in this business, how we first learned about wholesaling, and how it has changed our lives for the better. I’m so grateful to get this opportunity. Not only to do a show with you but also to have built this amazing product that we’re going to get to at the end of this episode. We’re going to talk about how we learned about this and how we got started. I’m going to jump in here. I want to ask you straight up. How did you learn about wholesaling? When and how did you first hear about it, learn about it, and start getting interested in it?

I got to think back to when did I first hear about it. When I first heard about it, I didn’t even know the word. I didn’t hear the term wholesaling. I can remember a conversation I was having with my dad. I can remember I was in my old apartment and had an infant. I had my baby at 24 years old. I remember telling my dad. I said, “My goal is to own these buildings that my bosses have.” I was working in corporate real estate for companies that owned buildings and commercial. They owned an office.

Were you doing like management or acquisitions? What was your role?

At that time, I was working in the construction department for the office department. I worked for Irvine Company. They have everything, retail, office, industrial, and single-family. They own the entire city of Irvine. Arguably, the owner is one of the wealthiest people in the United States. I worked in the office division in the construction department. We manage the tenant improvements.

When a new tenant would move in, say a law firm, we would manage their construction as representing the owner of the building. I was an employee. I’ll be honest. I was making $50,000 a year. It wasn’t much. It was a salary that felt dead end. It didn’t matter what I did. I would never make that much more with my measly 5% increases every year. It was going to take a long time to get to a place where I could afford to live in Orange County, California. I’m barely scraping by. I live in an apartment. We don’t have much money at all. I was shopping at the 99 Cents Store.

You’ve been spending 40% or 50% of your income on rent.

Every week to get groceries, I would have $20. I say, “I can buy 20 things at the 99 Cent Store.” I was poor. I didn’t have a lot of money, but I had big goals and aspirations. Every time I worked for somebody in any company setting, I would go, “How do I own this company?” That’s where my brain would go. I told my dad. I was like, “I want to be the person that owns this building. I want to own the buildings. I don’t want to be the employee that works for the person that owns the buildings. I want to own these buildings. How do I springboard from being poor in this apartment, having no money in savings, to owning commercial buildings? How do I get to that place from here to there? I have no money. What am I going to do?” It takes money. You got to have money.

WI 992 | The Rhino Roadmap

The Rhino Roadmap: Look at the net profit formulas because it will help you make the offer lower than you’re comfortable with.

 

We both thought when we started that it does take a lot of money. The beautiful thing is not only wholesaling, but some other creative strategies that we both know and teach, you don’t need a ton of money, which is amazing. In the beginning, I thought the same thing. I’m like, “How do I save up a bunch of cash to where I can start buying properties and/or flipping?” Before I knew about wholesaling, I was like, “Flipping a property requires me to buy it.”

At that time, I thought you had to have the million dollars for the down payment of the commercial building. I thought I needed that in cash. I go, “Dad, how do some broke joke like me going to have the down payment for this building?” I’ll never forget this. He goes, ” Lauren, there are some people that get into it by finding the deals.”

Your dad knew about it before you did.

He’s a pretty smart guy. He was a Ph.D. and a CPA. He goes, ” Lauren, there are people that will pay you to find them the deals.”

I’m that guy now, and so are you.

It’s funny because he didn’t know the word wholesaling. He thought of it as, “Your first step is to be that person that scouts out the deals. You’re beating the bushes to find the deals which you can do for free, Lauren. You have no money. Find the deals. You partner with these experienced investors, and they will pay you for finding their deals. They will happily pay you.”

“The next step is maybe you partner with them on the deals. Maybe you take the money you earn from them paying you and put it in the deals.” I thought, “That’s a thing.” That was well before I started real estate investing. I didn’t know anything about wholesaling. I didn’t start trying to be a real estate investor for a whole year because I started when I was 25.

It’s pretty common. Let’s be honest. A lot of people learn and hear about it, and it takes some time. Most people have disbelief. They may hear about somebody doing a wholesale deal making $20,000, $30,000, or maybe more. They think, “That guy got lucky. That girl got lucky. Good for them, but I doubt that’s going to happen again,” and then they do another one, and another one, and then they do 5 or 10 a month, like you and me. Not only is it extremely simple, but it’s super possible for everybody to do this.

At that time, I had a lot of doubts. My dad and I are having a conversation. It’s been several years. I started my first marketing campaign to get deals when I was 25 years old, so it was a whole year later that I learned about wholesaling and house flipping, this concept. If I look at where I am now several years later, I went from being stuck at this 8:00 to 5:00 corporate job that I had to drive an hour to get to and an hour to get back to my kid. My kid hardly knew who I was. Probably half of my money went to daycare, to be quite honest. The other half went to my expenses, and there was nothing left over.

A goal without a plan is a dream.

That’s no life.

I thought it was a corporate jail. My salary had no real possibility of increasing. I wasn’t good at corporate politics. I’ll be honest with you.

Sad is probably a better word, but you worked for a whole year, and they maybe give you a 2% or 3% increase in salary. It’s 2% or 3% on $50,000. It’s like a nice dinner.

I’m looking around, going like, “How do I get out of this?” I got out of it by learning about this concept of wholesaling houses to then wholesaling the gateway drug to real estate investing. Whenever I would wholesale a house, I would look at what the end buyer did. I would say, “If they can do it, so can I,” so I would do it. I would put a deal together like that. I would copy what they did. I had the courage because I saw someone else do it. I had the model. I watched them do it with that house that I sold them. I’ve flipped hundreds of houses. I have built ground-up construction in Nashville virtually. I live in California, and I built homes in Nashville.

Fun fact, one of them was bought by one of the winners of The Voice, who is a country star. I’m like, “I’ve done all these cool things that I would never have done if I didn’t hear about this concept.” That’s how I heard about it. Looking at the last several years, with all of the things I’ve done, I was able to get out of the corporate world. I can now go to my kid’s soccer games and basketball games. I can volunteer in their classrooms anytime I want. If one of them is sick, I stay home with them. I can be there for my kids. I can be the person picking them up from school, which is all I want to do.

I never went into this business to get rich. They were my number one. I wanted time freedom. On top of that, I have probably 4X my income from back then. If in several years I can do a 4X, think 10 more years. It’s crazy. It doesn’t feel like while you’re in it, it feels super slow, and you’re not doing anything, but when you look back at those years, and I can write down all the things I’ve gained, it’s pretty incredible.

For anyone that’s reading now, you had mentioned this was before you had discovered wholesaling. This is before you even started doing it. You were at this job and working, doing Tenant Improvements, TI. Can you briefly explain to the audience what that is?

I would go into a corporate job, come, sit in my cubicle, and push paper around. That’s all it was. In tenant improvements, imagine an office building. A new tenant moves in, and they’ve got to build out their suite.

Typically, it’s just going to be a white box, drywall, with flooring and panel ceiling. That’s it. There’s nothing necessarily in there. The tenant will come along and say, “I want to rent this space, but I want to put an office suite in here.” Maybe it’s a restaurant. You, as the representative for the landlord, would then say, “In order for you to rent this, we need to get you to sign a long-term lease.” In exchange for you signing that lease, we’re going to do what?

WI 992 | The Rhino Roadmap

The Rhino Roadmap: It’s going to take you a couple of months to do your first deal, and if you hire a coach, it’ll hopefully shorten that curve.

 

They would give an allowance. The difference between Irvine Company because they have such a big budget is they could afford a team like us. Most landlords probably wouldn’t have that, but because Irvine Company is so wealthy, they would have an entire department managing and overseeing the tenant improvements. In fact, they would only let the tenants use three approved contractors.

That was it because they wanted control over everything. They didn’t want the tenant to get themselves in a situation where their contractors were ripping them off and all that. All the things could happen in construction. They had us as construction project management, where we were managing the construction, approving change orders, and watching the timelines, budgets, and whatnot.

Thank you for touching on that because that in itself is fascinating. You are doing it for somebody else and making someone else a lot of money by coming in and sitting at that cube, helping them get some leases signed on their properties, and appeasing the tenants by helping them get their build-out done. I love it. It’s cool. You weren’t happy. You weren’t making that much money. You had learned about wholesaling. You didn’t even know what it was called at that point. You just knew that you could get paid to find deals. Why a year? Was it just you learning? Did you have analysis paralysis? Did you not know much and were trying to dabble? What was the year all about?

That year, I had my daughter. I was having that conversation with my dad. Probably I was pregnant at the time, or she was just born. The first year, I spent that entire year going, “I’m going to open up some business. I just don’t know what.” I spent a whole year researching different types of businesses. It was like, “I’ll do anything. I don’t care what it is. I need to be working for myself, so I can stay home with this kid or have more flexibility.”

I was in research mode. I was going in all different directions with different types of business ideas. It wasn’t until I met my brother. We’re hanging out. We used to barbecue on Sundays, and I was complaining. I had the Sunday scaries, and Monday’s the next day and another grueling week. I used to get the Sunday scaries so bad.

It’s anxiety like, “I don’t want to go back to the office tomorrow and drive an hour there and back.” That’s no fun.

I would drive an hour there and an hour back. My daughter hardly knew me. I would see her for an hour and a half, and then it was bedtime. It was awful. I was telling my brother, complaining, and having the Sunday scaries. He said, “You should do what I do.” I was like, “What do you do?” To be quite honest, I never paid that much attention to what my brother did. I knew he was flipping houses, but I didn’t know much about that industry. He explained his schedule. He’s like, “I work from home. I send some mailers out, sellers call me back, and I make offers. When I get one, I borrow the cash, fix the property, sell it, and make $30,000 to $40,000.” I’m like, “What?”

He was flipping. Here’s the lesson here. You can do the same thing but not have to buy it or fix it up. That’s what it sounds to me. You were like, “If you’re teeing this up for yourself, what’s stopping me from teeing them up for you or other investors just like you?”

He’s like, “I’m going to give you a training course. Go through it. It’s on CDs. All you have to do is listen to them and let me know if you’re interested in this business.” Those are the good old days. They used to be on CDs. They weren’t on eCourse platforms. In that hour commute every day, I would pop this CD in. It was this guy, Mike Cantu. I interviewed him on the show. The guy’s still buying deals. He is a legend. You got to read that episode.

You can’t stop the marketing. Marketing is the lifeblood of this business.

I heard this beautiful voice, Mike Cantu. He’s a funny guy. He has a super dry sense of humor. He’s A to Z laying out what he does. I listened to it for one week. That next week, I told my brother, “I’m ready to go.” He said, “Go, do it.” I’m like, “Okay.” I followed exactly what Mike Cantu said. Mike Cantu started with a direct mail campaign. That’s what he does. He laid out what the letter even says. I listened to the CD and wrote the exact letters word for word. I didn’t deviate at all from what Mike Cantu set. It’s the same font.

Why would you? It’s because it’s proven. That’s the whole purpose of it. It is to replicate.

I did exactly the same font, the same type of paper, the same postage stamp, everything, and started my first marketing campaign. Here’s one thing that I should mention. I didn’t have any money. I needed money for the envelopes and the stamps. I go to Costco. Costco has a good deal on paper and envelopes. I use my credit card and go, “I’m going to need more on my credit card., I’m going to have to increase my limit.” I called Capital One. I had to get a whole new credit card with a $10,000 limit. I go, “This is my marketing budget.” It will be on my credit card, and I’ll pay it back because I’m going to get a deal. It’s going to net me $30,000, and I’ll be able to pay it back.

One thing I noticed right there is that you didn’t say that you were hoping to get a deal. You had already told yourself, “I’m going to get a deal.” You are committed. I love that. That’s amazing.

You have to believe it. I swear. I’m good at manifesting things. You have to believe it. I was like, “I’m going to get a deal, and it’s going to make me $30,000 and pay this credit card back. I know it.” I started sending mail out. I put it all on my credit card.

Did you quit your job yet? Was this done on nights and on weekends?

These are nights, weekends, and lunch breaks. I’m now pregnant. I’ve got a one-year-old. I’m growing a human now. I had the worst pregnancy. During my first pregnancy, I was so sick. I mentally said, “You don’t have the option to be sick because when this baby is born, you are going to quit your full-time job.” I envisioned it every single day. I’m going to quit my full-time job. I’m going to go on maternity leave, and I’m not coming back.

How long did you have that job?

It was a couple of years. Before that, I was in similar corporate real estate jobs, similar stuff. I envisioned every day, “I’m going to quit my job. I’m going to close my first deal. It’s going to be $30,000. I’m going to get another deal, and it’s going to be another $30,000. I’m going to quit my job because I’m going to have a full year’s salary in my bank account. I have a year to do it because the baby is going to be born in ten months. I get two-month maternity leave or whatever.” I had this timeline. I’ve got a year to do this.

WI 992 | The Rhino Roadmap

The Rhino Roadmap: You have to spend time and money on marketing, but you don’t need a hundred grand to do that.

 

You got a plan. That’s important because a goal without a plan is a dream. You had a plan, and then you were off to the races. You got yourself a credit card. You went to Costco and got some paper and some envelopes. What happened next?

I started mailing. I would get these seller calls. I was terrified. I was making these offers to the sellers. You can hear the shakiness in my voice, but I kept going. I kept making offers. I kept hearing, “You’re offering too low.” I didn’t know how to price out property. I went off of this formula that I heard. I didn’t understand the highest and best use. I was doing the best I could at that time.

You had a plan. You were consistent and persistent, and that’s it. That’s all it takes. How many months of marketing, sending mail, talking to sellers, and making offers? You probably got told no 1,200 times.

This is great. About 3 and a half to 4 months into it, I went to my brother and had a stack of paper because back then, I didn’t have a CRM. I printed out a bunch of questions, 25 of them at a time. Those were my seller lead sheets. I had three folders. It was new leads, leads I made offers on, and leads I needed to follow up on. I had a folder system and carried that folder with me wherever I went, to the office or in my car. Anytime I start a call, I can find their piece of paper. I would get back on the phone and have notes on the paper about what vacation they went on and what their cat’s name was. I did that.

About 3 and 1/2 months, I went to my brother. I have a stack of lead sheets. I go, “Nobody’s saying yes. What am I doing wrong?” He goes, “Let me see.” He looks through everyone. I wrote down ARV, After Repair Value. I wrote repair estimates on them and my offer. I then wrote the lowest the seller would take. My brother looks and looks. He goes, “This seller would take $90,000.” I go, “He said he would take $90,000 and is ready to go. The formula says that the offer needs to be $75,000, and I can’t pay any more than that.” He’s like, “If he took $90,000, we would still make $40,000. Who cares about the formula? Look at the net profit.”

The formula is great because it helps you make the offer lower than you’re comfortable with. In this example, if they say, “I need $180,000, and you’re at $90,000,” you’re not in the same ballpark. If you offer $90,000 or $75,000 and they’re at $90,000, we’re in the ballpark here. That’s it. I love it.

Do the math. We’re still making a lot of money here.

Did you call that guy back right away? What happened?

It was 8:00 at night. He was like, “Call that guy back and say we have a deal.” I called him back. I was like, “We’re ready to buy another one. Let’s lock this up. Are you ready to go?”

The amount of offers you make in this business literally equals the amount of money that you can pay yourself or make.

“I would like to pay, but we need a deal. I’m going to make you make this work for you.” I love it.

That was it. My brother and I did a partnership. Instead of wholesaling that one, I partnered with my brother. I found the deal, and my brother found the money. He found the contractors. We flipped it. The thing made $65,000. We split it 50/50. I was already halfway to my goal of a full-year salary. I then found another one. It’s the same type of deal. It had the same number, like a coincidence. It was another condo in a similar area. We did the same thing, rinse and repeat. By the time Presley was born, I had closed the deal. Both of them had a full-year salary. I called my boss and said, “I love you, but I’m not coming back.”

You took maternity leave.

I took the benefits of the maternity leave and said, “It doesn’t make sense for me to come back with the cost of childcare.” I didn’t want to say I had another business.

It doesn’t matter. “Thank you guys so much for giving me this opportunity, but I’m going to move on.” That’s it.

That’s my story. That’s how I got started. It’s been a snowball effect since then. Looking at those years and how much I grew and thinking back to my thoughts then seems so unachievable. It’s so crazy. Thinking of the goals now I have that seem unachievable.

Some of the things that stuck out to me are number one, we’re going to take no for an answer. You were consistent. You didn’t even have the money to market. You used a credit card. I did the same thing when I started. I didn’t have a ton of money to do it. I used a credit card as well, but I didn’t think that I was going to try. I knew that I was going to do it. I knew that if it took me 6 or 8 months, so what? I was going to do it. I1 had a plan like you. I was consistent. I started sending mail and doing the exact same thing. I had three folders. Now, we got amazing CRMs, which makes it so much easier. I had three folders with the lead sheet.

As people would call, I would do the same thing. I would write down about the vacation they took, their pet, or whatever they wanted to talk about. Whenever we could call and follow up, we could ask those questions and build rapport with them. It was similar. How many months from the time that you said, “I’m going to do this?” not from the time that you learned about it because anyone’s reading this is learning about it, but the time that you said, “I’m going to take a stand here and do this?” How many months did it take you to get your first deal?

I started in October of 2012. My first deal came four months later. It was January or February time. October was when I first started the direct mail campaign. I said, “I’m going to do it.” A week later, I started the direct mail campaign. I didn’t take any time. I got my first deal. It took four months of believing. I didn’t get paid for 8 or 9 months because the deal took a couple of months to fix up and a couple of months to sell.

WI 992 | The Rhino Roadmap

The Rhino Roadmap: What you are paying for the program is learning from other people’s mistakes, so you don’t make those mistakes that cost you tons of time and money.

 

It took eight months before I made any money, but I knew I was going to pay that credit card debt back. I kept paying the minimums. It took exactly a year. I started in October 2012, and October 2013 was when I quit my full-time job. Presley was born on August 17th. I had a couple of months of maternity, and then I quit my full-time job.

After you got that first property under contract, you weren’t wholesaling per se, but you were deal finding. That’s what we do as a wholesaler. We find deals. What do you go in deep from there if it’s a fix and flip, wholesale, or rental BRRRR? You still got to find the deal. That’s where it all starts. The question that I have is after you got that first contract, it took you a couple of months, and you didn’t get paid for a couple more because you guys decided to flip that one, but did you continue to market or wait? Did you stop?

I never stopped.

That’s the lesson I want everyone to take here. It’s going to take you a couple of months to do your first deal. If you hire a coach, hopefully, that will shorten that curve, maybe even 1/2 or 1/3 in some cases, but you can’t stop the marketing. Marketing is the lifeblood of this business. We can call ourselves investors, especially if we’re fixing and flipping or adding rentals, but as a wholesaler, it’s more of marketing business.

You jumped in, Lauren. You did it. You got the mail out there. You didn’t even have the money to do it. You said, “I’m so confident in myself that I’m not going to take no for an answer,” even though you heard 1,200 of them approximately. You kept going and got it. That is awesome. I love it. What a great story. Thank you so much for sharing that with me. That’s so cool.

I know, David. Enough about me. When did you first hear about wholesaling?

To be honest, it’s similar. I didn’t have a job doing TI, Tenant Improvements, at a commercial firm, although I did have some internships in my early twenties at some real estate firms. I was a little behind you. I was about 30 when I learned about wholesaling. I wasn’t investing in real estate since I was twenty. I had about ten years of passively investing, buying a rental, doing it the wrong way, and putting down 20%. It was slow.

During that whole ten-year period, I was working at different jobs, doing sales, and marketing. In the last 5 or 6 years out of 10, I was an entrepreneur. I was doing random stuff. I was selling products online that I was buying from China. I was building websites for people and doing anything and everything that I could to prevent having a boss. I’ll be honest.

Most of those businesses didn’t do that great. They made me enough money to get by, but I wasn’t getting rich from those activities. At the age of 30, I was already 10 years as a passive investor, but I hadn’t sent a single postcard or mail or done any marketing. Everything I had done prior was through an agent off the MLS. I’m looking online, seeing people, reading books, podcasts, and all this stuff. I’m like, “How is it possible that there are people that can flip multiple houses in a month or even in a week in some cases?”

If you have the opportunity, seize the day and make the offer.

There was a guy in my market. When I first got started, I went to REIAs. He’s still a good friend of mine. He owned 150 single-family homes. At the time, I had twelve. I’m like, “It’s going to take me a century to get to 150, knowing what I knew then.” I started networking. I discovered it. I was reading and listening to podcasts. There were these people saying, “You can flip houses with little to no money or oftentimes with no money.” One thing that people neglect is that you have to spend time and money on marketing, but you don’t need $100,000 to do that. You maybe only need a couple thousand or, in some cases, no money. It’s just time. You can cold call.

Essentially, I stumbled across it. I was similar to you because I was spinning my wheels for three months. I didn’t know what I was doing. I had a lead sheet. I had the folders. I was sending mail just like you. I was handwriting letters. I remember I was paying people to come over, stuff envelopes, and stamp them. I was trading people stuff. I didn’t even have the money to pay them, but I’m like, “I know that this is what it’s going to take. I got to get my phone ringing and ring other people’s phones.” I was calling for sale by owners. I was calling people that had properties for rent, and asking them if they had an interest in selling.

Three months went by. I had three thick folders and full leads. I couldn’t make a deal happen. I hired a coach, and within three weeks, I had a deal. The next week, I had a deal, and the next week, I had another deal. I hit the ground sprinting for two reasons. Number one is because I had been at it for three months. I had a plan. I wasn’t going to take no for an answer. I was consistent. I wasn’t afraid to spend some money on marketing, even though I didn’t have it. I used a credit card to pay for my very first mail campaign, which was paper, envelopes, and stamps. That was it.

At the time, I was pulling leads off of ListSource. I was driving for dollars. It’s 3 months of struggle, 3 weeks with a coach, and I had a deal. It was awesome. In that first month, I did 2 or 3 deals. In the second month, I did 3 or 4 deals. Having that coach sped things up for me. To me, 1) My businesses weren’t doing that great. 2) I was not going to go back to a job and have a boss. That’s not who I am. I had done that for a couple of years. I knew that I needed to have a plan. I knew that consistency was everything.

I have a coach now. I always have a coach or two. I love having coaches in multiple facets of my life, like finance, fitness, real estate, you name it. Here’s the thing. When I first hired him, he said, “This isn’t about me and you being friends.” I’m friends with him still to this day. I love him to death, but he goes, “This is about me getting you results. Some of the things I’m going to teach you and tell you, you may not be super excited about,” but three weeks after I hired him, I had a deal. What did he tell me?

Let’s share this with the audience here. Number one, this is a marketing business. He asked me on day one, “How much marketing are you doing?” I said, “I’m sending out 30 to 50 letters a day. I’m spending 30 to 40 minutes a day cold calling.” He said, “At that rate, you’re going to have a deal in 8 to 10 months.” I was like, “What?” It was, “Those are some rookie numbers. You need to pump those numbers up,” type of conversation.

He goes, “Here’s what I want you to do. I want you to 2 or 3 hours a day cold calling or more. That’s a minimum. I want you to get 200 letters out a day.” He basically 4X or more what I was doing. All of a sudden, the leads that I was following up on and the new leads that were coming in started to make more sense because of a couple of reasons. Number one, I was able to build confidence by doing it more and more. After getting told no 50 times, I wasn’t deflated. I’m like, “I’m 50 noes ahead today. Hopefully, this next one’s going to be a ‘Come view the property, Dave.'”

It’s being able to put a lot of time and effort into it. Number two, this is probably even more important than that. He taught me a valuable lesson. I’m going to teach everybody here, too. You probably already know this. Hopefully, you do. He said this simple thing, “The amount of offers you make in this business equals the amount of money that you can pay yourself or make.” I thought about that for a minute. He said, “Dave, how many offers have you made this week?” At the time, I had just hired him. I was doing 50 mailers a day, roughly maybe even some days 20 or 30, and some days 30 or 40 minutes of cold calling. That’s it.

I was like, “Maybe 1 or 2 on a good day.” He goes, “I want to see 5 to 10 offers a day.” I was like, “I’m making that in a week. You want me to do that in a day?” Guess what happened? I got a deal in three weeks. It’s not rocket science. Marketing leads to lead generation. Lead generation leads to the opportunity to make an offer. One of the things he said is if you have the opportunity, seize the day. Make the offer. Don’t just think, “They’re asking too close to retail. Making them a low offer is going to be a waste of time.” That is baloney. You must make the offer every single time. That’s what happened. Since then, I’ve been rocking.

WI 992 | The Rhino Roadmap

The Rhino Roadmap: If you are consistent and have a plan or roadmap, this business is incredibly simple, and you will be able to have a ton of success.

 

We’re both doing tons of deals, and we love it. Here’s the thing that’s amazing. We both 4X our income, which is great. We both have the freedom now to spend time with our kids and be able to take trips and vacations. I love to hang out with my wife, go to dinners, and not have to think twice about spending money. That’s all cool and all, but what gives me fulfillment and passion at this point is helping other people learn this business and get that first deal. I never encouraged people to do this, but I love it when it happens. It’s to quit their job.

I’ve probably had two dozen people over the years say, “Dave, I think I’m going to quit.” I say, “I’m not encouraging you to do so, but if you are ready and truly believe it in your heart, I’m going to stand behind you. I’m going to help you. We’re going to do this.” It gives people so much joy to be their own boss and have control of the finances and money they make, but also get that freedom. That’s where we both find the most fulfillment in this business.

Money is cool and all because it gives you utility. Once you have a little bit of money, having more money doesn’t necessarily make you happier. Having more time does, every single time. It’s having the freedom to do what you want to do when you want to do it. It doesn’t get any better than that. That’s amazing. It’s so cool. Lauren, we should drop it on everybody. Let’s go ahead and do it. What have we been working on?

It’s time to talk about the Rhino Roadmap. David and I have known each other for years. We’ve developed a pretty good friendship, but we also have an interesting synergy. We both got started in wholesaling. We have both wholesaled hundreds of deals in our careers, but we both went different paths. I talk about wholesaling like it’s the gateway drug of real estate investing. I don’t want you to stop at just wholesaling. I want you to be the building owner. I want you to be the house flipper.

I want you to be that HGTV shows that you guys are watching. I want you to go there. I want you to be the person that’s got the 115 rentals in your rental portfolio. To do that, you got to start somewhere. There is no better way than to start with wholesaling, especially if you’re broke like I was. David and I have decided to partner on the new course and coaching program. We want to invite you to be a part of our tribe. David, do you want to explain more, or should we tell them where to go?

Let’s talk a little more about it real quick. Lauren’s great at the virtual and many other things, but she’s been focused on the virtual. She’s been here a lot longer than me. My passion and focus are the rental portfolios, but I want to reiterate something. Wholesaling is probably one of the best places to start for multiple reasons. 1) You don’t need a lot of money to do it. 2) It teaches you the skillset of finding deals. That’s what it is. If you don’t have a ton of money or are not ready to take a ton of risk by doing the flips, rentals, BRRRR, and whatnot, wholesaling is such a great place to start because you don’t necessarily need a ton of money to do it.

If you want to be good at the rentals, fix and flips, or whatever it may be, you got to learn how to find deals. That’s where it all starts. What Lauren and I have done is we’ve decided, “Let’s break it down. Let’s make it super simple. Let’s teach the basics on what it takes to get into this business, what marketing you need to do, what mindset you need to have, and how to locate joint venture partners like Lauren did in the beginning.”

I did probably 5 or 6 joint ventures out of the first 10 deals I did. I still probably do 30% of my deals with other people. We wanted to break it down and make it so incredibly simple for anybody and everybody to learn how to get involved and invested in this business. We’ve created one of the most amazing products. We both have been working on this for a couple of months, give or take.

We are calling it the Rhino Roadmap. This is a step-by-step start to finish what you need to do, know, understand, live, and breathe to get either your first deal and/or scale your business up to doing multiple deals each and every month. There it is, the Rhino Roadmap. We are so incredibly excited to launch this. Where can they go to learn more about it, Lauren?

Having more money doesn’t necessarily make you happier. Having more time does, though, having the freedom to do what you want to do when you want to do it. 

You could go to www.RhinoRoadmap.com. We worked hard to explain wholesaling in a way anybody from any background could understand. David and I have both coached. I’ve been in the coaching business for a couple of years now. As far as my program goes, I’ve had over 400 people go through my program and become successful.

I pride myself. The one thing I’m good at is teaching anyone this business. I could teach a twelve-year-old this business. You don’t have to have a background in real estate. You don’t have to have a Ph.D. We break down wholesaling, the concept of wholesaling, and the complete roadmap of wholesaling, getting you from 0 to your 1st or 10th deal. It’s an easily digestible way that anybody could understand. It’s always my goal with any piece of content I put together. I explain it in a quick but efficient way that anybody could understand. We put that together.

Another thing was when we did put this together, we thought about all the mistakes we made when we first started. We wrote those all down and made sure that you have what not to do in that program. The thing you are paying for is learning from other people’s mistakes, so you don’t make those mistakes that cost you tons of time and money. I’m excited about it. Go to www.RhinoRoadmap.com. I want you guys in our tribe. I’m so excited. David, I’m excited to be doing this and starting this new journey with you as well.

It was funny. We were joking around when we were putting some of the finishing touches on the course here. We were both saying, “It took us both about four months to get our first deal.” If we had this course when we first started, there’s no reason we wouldn’t have done it in 1/2 time, if not 1/3 of the amount of time. If you are wanting to get into this business and don’t want to spend 4 to 6 months struggling, I don’t blame you. I wouldn’t want that for you either. Here’s the coolest part about the Rhino Roadmap. We’ve put this together to help as many people as possible. Because of that, we knew that we needed to price it accordingly. Book a call and learn more about it.

We’ve got a great deal on this course. We’re going to be offering this at a price point that is affordable, which is going to make it helpful for more and more people to take advantage of this information. It’s phenomenal. I love it. Lauren, this has been an amazing show. I loved learning more about how you got started. We were both similar. There are a couple of things I want to recap on. We both had a plan.

If you want to get into this business, you need to have a plan. You don’t have to have a lot of money or any because neither of us did, but we were consistent with our plan. We used our credit card to cover some of the marketing. You can do that too, but you have to be consistent and comfortable with getting no. That’s okay. If you are consistent and have a plan or a roadmap, this business is incredibly simple. You’re going to be able to have a ton of success.

Lauren has coached hundreds of people. I have, too. Multiple dozens of people get their first deals, as well as help people, get out of that rat race, and that hour commute to that work or that job that they hate. This is why we do it. We do it because we want to help. I can speak for both of us when I say we find so much fulfillment in helping other people get out of the rat race that they are in and create financial freedom, as well as time freedom, and learn a skill that you can take away to find deals, start to fix and flip, BRRRR method to get rental properties, and do all these other things. It all starts with deal finding. That’s what wholesaling is all about.

I love it, guys. Thank you so much for reading. If you think this could benefit someone else, please share this on your social media. We’ll see you next episode.

Thanks, Lauren.

 

Important Links

 

About Lauren Hardy

Lauren Hardy is Virtual Investing expert and Real Estate influencer who owns multiple companies in the real estate industry including real estate investment, coaching, and software companies. She is also a Wholesaling Inc coach and co-host of the Wholesaling Inc Podcast.

Her experience in the last decade has been focused on real estate investing and creating products and services to serve the real estate investing community. If you are interested in investing in real estate virtually, house flipping, or virtual landlording, Lauren’s your girl.

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