How to Get 115 Cash Buyers in 4 Days!
The secret to success in the Wholesaling business all comes down to cash buyers. He/she with the biggest cash buyers list wins!!
Of course you need to find great deals as a Wholesaler but without investors to sell those deals to, you have nothing!
How big is YOUR cash buyers list? What if we told you that by following the steps laid out in this Podcast you could add over 100 cash buyers to your list within one week?
Would you do it or would you make excuses?
Well not James Wyman!
He took the challenge and got on the phone making calls for 8 to 9 hours a day!
With sheer grit and massive determination, he was able to add over 100 cash buyers to his list within 4 days!! Think of this episode as a ‘roadmap” as we lay out the exact steps YOU need to take to add over 100 cash buyers to YOUR list within just a few days.
IN THIS EPISODE YOU’LL LEARN:
- James’ story and how he got into real estate
- Getting his first deal while joining the Rhino nation
- Taking the challenge in getting cash buyers
- Just making the calls persistently
- Digging into the numbers: Details of the phone calls he made
- Why property management companies can be a cash buyer gold mine
- Direct mailing a cash delinquent list
- Sensing the motivation of the seller
- The beauty of calling back right away
- 10 hours of work for a $2500 deal!
- Why he thinks finding a mentor is key
- and so much more…
If you are Ready to Explode Your Wholesaling Business, Click here to Book a Free Strategy Session with me right now!
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Cody Hofhine: Welcome to another episode of Wholesale Inc.’s podcast powered by Investor Grit. Today we’ve got another rock star rhino that’s going to share some gold nuggets and some tips on how to help you in your wholesaling business. So if you do have a pad of paper and a pen ready, get ready to use him because he’s going to share some secrets that are going to help anyone in their business, when it comes to wholesaling.
This guy’s name is James Wyman. James Wyman is from Grand Rapids, Michigan, and he’s been in the tribe for just a little over three months, very short amount of time. He attempted to do wholesaling for about a year, I guess it’s been, and was having pieces of success where he thought he’s getting a step closer to finding deals, but then ultimately took the plunge and join the tribe and very quickly he got his first deal and then on top of that, this guy built a cash buyers list faster than anyone I’ve personally known.
He called me one day and had a low count of cash buyers, asked me some things to do , and I remember ultimately he hung up the phone, and he took massive action. He’s going to share today. The one thing, the one action item that help him build a cash buyers list of over a hundred cash buyers. Just listen to this. Listen to this in just four days. So in four days, he built a cash buyers list to over a hundred and he’s going to be sharing today how you can do that as well. Because in wholesaling, it doesn’t matter how good the deal is, if you don’t have anyone that’s ready to buy it, it doesn’t matter how great the deal is. So James is going to share the secret on how to build a cash buyers list, so that when you find deals you’re able to move these properties super, super quick. So without giving away any more secrets. James, how the heck are you my man?
James Wyman: Hey Cody, I’m well sir. How are you?
Cody Hofhine: Good! So what’s cool about this, by the way, is right now you’re on vacation and your kind of away from your family, in your little hidden closet or something getting on this podcast. Thank you so much for joining us. There you go. There you go.
James Wyman: Yeah, no, no. Glad we could do it. Glad we could make this work out. It’s awesome.
Cody Hofhine: Perfect, so fill me in, fill in the gaps, a little bit about your background, a little bit about your story. Grand Rapids, that’s not a small city. I mean we’re talking, you say about the second largest compared to Detroit, right?
James Wyman: Yeah, that’s a good size area. Then there’s Detroit and Lansing up in Michigan. Grand Rapids is in Western Michigan, definitely a growing area and it’s a really nice community. A very, very hot market right now. That’s exciting to be wholesaling. There are definitely a lot of competition out there, but at the same time, a lot of good people to network with.
Yeah, Cody, I started out, I worked in my family business, my dad owns retirement- living assisted-living communities. I started working for him in his kitchen when I was 14 I was home educated, so worked for him for years. Right before joining the tribe ended up kind of taking a leap of faith. I always loved the idea of wholesaling and took a leap of faith. Then worked out a little deal with my father and he’s kind of support me for a little while as we get going on this new venture of wholesaling. So I left my day job and got into this thing full-time.
Cody Hofhine: Full-time right out of the gates, good job! Okay, tell us a little bit about what it’s been for over the year. That’s what I think our listeners, why [inaudible 00:04:35] nation, continues to come back to this podcast is because we have rock star students that tell exactly how it is.
Tell us how has wholesaling been for you over this last year, and then let’s dive into some awesome tips and gold nuggets on how to build cash buyer’s list. Also share what you’ve done with first deal that you did and kind of all that fun stuff.
James Wyman: Yeah, I’ve been trying this for about a year, Cody, had a little success but no deals closed. So, I ended up joining the tribe about three months ago in December. It’s been awesome since that.
Obviously we’ll talk about the deal I did close. The first thing we were taught, and kind of first gold nugget, is just learning to build a cash-buyer’s list. That’s something that I didn’t understand before joining the tribe and started that out. Do you want me to talk in a little bit how we do that? Or…
Cody Hofhine: Yeah, let’s go into that! So, here you joined the tribe, you get into it, you start taking massive action. I absolutely love it. You get on the small group coach calls . I’ve always loved your questions cause you’re just, you want to know, “Hey, am I in the right spot? Am I doing what I need to be doing?”
Every time without fail you were. Then, something triggered though. This is the “changing moment”. I remember like, “Man, I don’t feel like my cash-buyer list is big enough.”
I still remember this conversation by the way, like it was yesterday. I don’t know if you remember it like it was yesterday, but I’m telling you, it’s so vivid in my mind, this phone call, and you ask, “Hey, I need cash buyers like ASAP.”
But I’m like, “Good. Here we go.”
You’ve got one week to make this happen. You’re like, “Done. I’ve taken on the challenge. I’m like, I want a over a hundred cash-buyers by Friday.”
Now mind you, it was Monday, when you had this phone call, wasn’t it?
James Wyman: Yes, yes.
Cody Hofhine: Okay, so here it was Monday. You call and I’m like, “Oh, this is going to be sweet. I’m going to like really push him. Let’s do this Friday. I want over a hundred phone calls or over a hundred cash buyers.”
At the time, how many cash buyers did you have in your list? How many were there?
James Wyman: I think we read like 10. I remember, I do remember the call. You know, I was sitting in my living room, and I remember shooting a text saying, “Cody, I got to get more cash buyers.”
You called me up and, like you said it was a Monday. We chatted for a little while and you gave me a technique, which I’ll talk about. I remember getting off the phone with you, and I’m looking at my wife and saying, “Cody wants me to get over a hundred cash-buyers by Friday.”
She said, “Well, let’s give it a try.”
See, she didn’t understand how big that was. She was like, “Well, why can’t you do that? Well, we’ll figure it out.”
So, we started taking massive action on that. Your suggestion on the phone to me, you told me, “James, what I want you to do is I want you to get on Craig’s list, and I want you to start calling all the for rent ads and just start calling them. And once you’re done with those, start calling the for-sale ads. Maybe you’ll find some investors there, but call the for rent ads.”
There’s quite a few in the Grand Rapids area, so I had a lot of people to call. I just started, you know, for those of you who don’t like being on the phone, there’s definitely a little bit of fear there. I had a little bit of that fear. We just started getting on.
More I did it, you get those people are not interested at all. But, I talked to a lot of people said, “Yeah, sure, you know, we’d love to, love to, be on your buyer’s list.”
Basically, Cody, I’d call him up, I’d say, “Hey, you know,…
Cody Hofhine: So are these like [inaudible 00:07:58] so they can…
James Wyman: So they get, so I can kind of understand. So we’re calling on Craigslist, we’re calling on the phone for rent-by-owner ads. You’re talking to the actual owner that owns that property. What does that conversation look like? How are you able to ask them, “Hey, you want to be on mine?
Cody Hofhine: Yeah.
James Wyman: How do you want to add them to your cash-buyer list?
Basically I’d call them up and say, Hey, my name’s James. I’m an investor, or wholesaler, in Grand Rapids. I find deeply discounted properties and I would love to get your email if you’re looking for more rental properties, possible investment opportunities.”
Some will say no, I’m not interested, but majority, quite a few, “That would be great.”
They’d give me their email or phone number. I’d get their name obviously, and that I will be talking to them in the future. It definitely took a lot of grit Cody. I probably did eight to 10 hours a day.
Cody Hofhine: Holy smokes! This is the part I didn’t know! So, 8 to 10 hours a day? How many phone calls is that a day?
James Wyman: Oh, a lot. Yeah, a lot.
Cody Hofhine: (laughing)
James Wyman: I don’t know.
Cody Hofhine: Over a hundred phone calls I’m assuming?
James Wyman: Oh, easy. Oh for sure. For sure. Yeah, it was, it was quite a few. Basically it was, get off the phone dial, right. Again, hit it up.
My wife would bring me lunch into the office and I just kept going. I was just, “Oh, I can’t think of what Cody said. I got to get over a hundred. I’ve got to get over a hundred.”
Yeah, quite a few phone calls. But, Thursday, I think it was Thursday.
Cody Hofhine: It was a Thursday! I was going to say I 100 remember! It was specifically you called me on Monday. Then on Thursday, what was your message to me?
James Wyman: Yeah, I texted, I said, “Cody, I got, I got like 115 and like, like 10 of them are property management companies!”
Which, for those of you who don’t know, property management companies are gold mined, as we teach, because they may have 10 investors who are looking for properties themselves.
So, we had 115. I remember, can I move on now?
Speaker 1: So the best part is, here’s what I love about you, James, is the fact that you just did it. You didn’t know how you’re going to do it. You knew there was a mountain ahead of you, but you took it one phone call at a time. You did well over a hundred phone calls every single day, eight hours a day getting on the phone to build your cash buyers list. In four days you went from 10 cash buyers to 115 cash buyers. Hold on one sec., cause that’s worthy, very worthy of a victory bell. Hold on one sec. (ringing a bell).
Awesome stuff! You do 115 cash-buyers in four days, and I remember leaning over to my wife, at that point, like, “You’ve got to be kidding me. This guy literally took this challenge and like mashed it! Just absolutely smashed this goal, and he calls me the day before it’s even due.”
And says, “I’m at 115.”
I absolutely love your grit. I love your, take on imperfect action. You didn’t know how you’re going to get it done, but you didn’t care. You’ve got it done.
Kind of tell us, from there, what it looks like as you kept wholesaling. You got a deal. Maybe lets deep-dive the deal that you’ve done to help listeners understand: A: Why it’s crucial to have that cash-buyers list. Because now you can go find the deal, so you can push it out to your cash buyers.
But, what is that deal look like? How did you find this deal? What kind of marketing did it come from? What does the phone call sound like? And lets kind of take it down right to step-by-step.
James Wyman: Definitely, well I started out sending out direct mail and basically there’s, there’s different lists that we can pull off the internet or you can get lists from the County. The list that I got this deal off of was a tax-delinquent list. Basically, …
Cody Hofhine: Awesome list, by the way, love that list..
James Wyman: Awesome list.
So, I went to the County and basically people in, in Michigan, in Grand Rapids. If you go, it’s about two-and-a-half to three years, if you don’t pay your taxes or your back taxes, property taxes, your house will go into foreclosure.
I found all the people who had not paid their taxes for over two years or more. I basically, I signed a piece of direct mail, a postcard to them, just friendly investor looking for properties in the area. And I sent out about 650 pieces of mail to that list. And you know, you get a lot of calls that aren’t super friendly. I can put it that way (chuckle)…
Cody Hofhine: (laughing)
But this is the truth of it. I love that you say it with a chuckle, but that is the truth. You’re going to get a lot of people that say words that I would never use in my vocabulary. When they tell you to “pound sand”, they tell you to do things that are physically impossible. It’s interesting.
So, you get a lot of phone calls and what did it look like from there?
James Wyman: Well, a lot of them were “pound sand”. But this one gal, I had an appointment on a Thursday, and I was about to walk out the door and I got this other phone call that came in. They left a voicemail, and I listened. You can definitely, Cody, hear the motivation.
It was a daughter, who was calling on behalf of her mom, and she called up and said, “Hey, I’ve got this, this house that we would, we’d really like to sell. Can you give me a call back?”
It was pretty brief, but it was definitely different than all the other voicemails I had gotten. So I called her up right away and said, “Hey, you know, what’s the situation?”
She opened up very much on the phone, which definitely I could sense the motivation. You know, mom was a husband had passed away recently. She was struggling with some depression and just wanted to get out of the house. Just couldn’t be there anymore. She lived there with her husband for over 30 years and just wanted to move, needed to change her scenery.
So I said, “Hey, I’ll be out there, can I meet you at 2:00?”
So, Cody, got right out on that appointment as quick as I could. Went out and built some rapport. I know we definitely talk about that and try and building rapport. I bet it was at their home for about two hours, you know, building rapport, walking through the property, just getting to know them. Becoming a friend. Basically a grandson to this lady and took that opportunity and we got the contract to that day. So it was pretty neat.
Cody Hofhine: So James, here’s one thing that I think that is “key” that our listeners understand that you did, that has made this possible. There’s three big things that you mentioned there that I want everyone to write these down. This is the gold nuggets that he’s sharing right now.
It comes down to this. Someone called and left a voicemail. Did he wait very long? No, he got on it instantly. So we called them back quick. That’s step #1.
Step # 2 was as he’s listening to this seller, realizing that this could be some motivation here, could be a good potential to go out and she if they can make it a win-win situation.
So he set the appointment quickly, he called back quickly. He set the appointment quickly, and when he was on that appointment, the biggest thing that I try to share with everyone, when everyone asks, “What is the secret sauce?”
It is the third step that James did on this one. And that is “build rapport”, because at the end of the day, people do business with people they trust.
So many investors go out there and just worry about the deal, the deal, the deal, the deal. But Jame’s took time to become, did you say, like a grandson to this girl?
James Wyman: Yeah, a grandson.
Cody Hofhine: A grandson, go out there and just talk and just build rapport, become a friend. Then ultimately, the byproduct is you were able to put this home under contract. And what were you able to make on this, this particular deal?
James Wyman: Cody, I made a $2,500 on this deal. A smaller assignment, but $2,500 for the actual amount of hours of work, it was probably less than 10 hours of work for it.
Cody Hofhine: So, 10 hours of work. Let’s man, why do I wish I had a calculator and do some math on that? That’s a high per-hour pay, 10 hours of work, $2,500 bucks. Hold on. Victory bell #2 (bell ringing).
Whoooo, all right! So, 10 hours of time you get $2,500, and here’s the best part, if there is the next deal that you make, $15,000. I can tell you there’s still nothing sweeter and better than your first deal, whether it’s $200, $500,$1,000, $2,500, you will always remember the feeling of your first deal. I know that to be true as I still remember my first deal, thinking back a couple of years back. I’m telling you there’s no deal out there that tastes sweeter or is better to me than deal # 1.
Congratulations James, my man. I love it.
James Wyman: Hey, thank you. Thank you. Yeah, it really just verifies that it works, like, said. You know, the dollar amount really didn’t matter. It’s for that sake, and for my wife and the family. And, it’s like, “Ah, we’re going to make it, we can make it,
Cody Hofhine: (laughing).
James Wyman: I can make this happen.
Cody Hofhine: Good work!
James Wyman: That was the awesome thing about it.
Cody Hofhine: So tell me this, going forward now, if you were to look back, so that our listeners could understand, there’s a lot of beginning people that are on this podcast that are listening, that are thinking, “Man, should I get into wholesaling? Oh, I want to learn a little bit more about wholesaling.”
For those individuals, what would you say is like a “gold nugget” that if you could start all over again, you would make sure that you did something different or what you would keep the same? What is one “gold nugget” you’d throw out to them?
James Wyman: Well, the biggest thing I’d say is find a mentor. For too long, I just studied, studied, studied. So number one, find a mentor. I guess right along with that is just taking action. I’ve always been the more perfectionist type of… analyzing everything. Guys, you just got to take action.
It’s progress, not perfection, is one of our sayings. Really, that’s what it comes down to. Even with the cold calling for cash-buyers, you try to analyze, you try to think, “Oh, maybe I could set up a nice email system to all of these people. ”
At the end I was like, “No, nope.”
Cody said, “I just got to get on the phone. Just got a call, got to go.”
I guess the biggest thing is just taking that leap-of-faith, taking that action.
Moving forward, when you don’t feel comfortable. You know what, it works out, it really does. Just keep going and keep pushing. So …
Cody Hofhine: Well James, that’s why you’ll continue to be successful because of the fact that you do take imperfect action. You don’t wait for a perfect plan cause we know they don’t exist. It’s not going to just hit you in the head that a plan is perfect. But what you do is you receive instruction and then instantly you just take massive imperfect action.
Because of that, the results are… Something comes back in return and you’re able to close the deal. You’re able to find 115 cash-buyers. But, it didn’t just come to, you, didn’t just fall in your lap. It was from you taking massive action.
That’s why I want everyone listening to this. When he says, “take action”, the results of taking action is exactly what has happened with James. He’s able to build a cash buyers list. He’s able to close this first deal. He’s got future deals coming up.
He’s working on one right now that he’s still trying to get all the pieces lined up.
Kids : (noises from kids in the background at Jam’s house)
Cody Hofhine: This is something we can continue to do because he takes massive, massive action.
Awesome stuff James, tell me if you were to say a book, a favorite book,
Kids : (more noises from the kids in the background)
Cody Hofhine: By the way, with kids in the background. I absolutely…
James Wyman: Yeah…
Cody Hofhine: That just means…
James Wyman: I’m sorry,…
Cody Hofhine: There is…
James Wyman: Ahh..
Cody Hofhine: No need to apologize. I love the sound of children like that is just cool stuff because that lets me know you are also being a good dad and enjoying them.
James Wyman: Amen.
Yeah, so as far as a good book, Cody, goes, probably, HOW TO WIN FRIENDS AND INFLUENCE PEOPLE, by Dale Carnegie.
Cody Hofhine: Is that Dale Carnegie? Okay.
James Wyman: Yeah, that, that has been a book that has been a blessing to me for the past several years. Just learning how to communicate and be good with people. So yeah.
Cody Hofhine: Awesome. Awesome stuff.
Okay, Mr. James, I know you’re busy. I know you are enjoying some family time right now on vacation. You need to get back out and enjoy those family, but I want to you so much for getting on the show.
I love that you shared everything you’ve shared the highs, the lows. Is it easy? No. Is it worth it? Yes. You shared your successes, you’ve shared how to build a successful cash-buyers list using just one channel, which is super effective in helping a lot of listeners understand where they can get started. That’s where you get started right there, if you’re cash buyers.
Then ultimately sharing the secrets of how to call back quickly, your appointments, how to set appointments quickly, how to build rapport so that people want to do business with you. Everything you’ve given us today has been great and point’s spot on. So thank you so much for joining us today.
James Wyman: No, no, Cody, thank you both of you and [inaudible 00:21:26] have been such a blessing in my life so far, just in three months, so I’m looking forward to the future. Thank you guys.
Speaker 1: Perfect. Perfect. Perfect.
So, Rhino Nation, you’ve heard another great episode by one of the rock star rhinos that has just barely joined the tribe a little over three months ago. Has been trying to do it for a little over a year. You’ve heard some of the secrets of how he’s been able to obtain some success in wholesaling.
If you want to hear a little bit more about some testimonials and people do it, Nationwide, that’ll inspire you, move you, and help you understand a little bit more about wholesaling. Go over to our new website. It’s called: wholesalinginc.com. It’s just like the podcast wholesalinginc.com.
Click on the testimonials page, and that will help understand just that people are doing this Nationwide. It’s not just in Grand Rapids, Michigan. It’s not just in Salt Lake City, Utah. It’s not just in Florida, where Tom lives, but students Nationwide, so that’ll motivate you.
Also, we have a pretty big event coming up in Salt Lake City. This is April 27th through the 29th of 2017. The best place to get details on that is wholesalingsummit2017.com.
Now, I’m telling you right now, this is going to be the event of all events for wholesaling. We’ve got myself and Tom Krol speaking. We’ve got the author of RHINOCEROS SUCCESS, Scott Alexander.
This is why, hold on, this is where we got the whole rhinoceros, like why we call it “the rhinos”. It’s because of this book right here. Scott Alexander’s going to be there speaking. We’ve got Todd Towback, from California, that is an absolute beast in wholesaling coming. We have Clayton Morris from Fox & Friends. Alex Youngblood, from Wholesaling Houses full-time. Bryan Harris, you name it. We’ve got so many people coming. They’re going to share some top-notch secrets. If you want to 10 X your wholesaling business, in 2017, make sure you come to this summit. It is more important than anything out there when it comes to wholesaling. So other than that guys, it’s been an amazing episode talking to James. I appreciate him for coming on, and we will see you next time, right here on Wholesaling Inc.’s podcast, brought to you by Investor Grit. Take care guys.