How to outsmart your competition!
Would you like to discover a strategy that brings you 5 to 7 deals a month? I’m talking about a “Ninja” tactic that practically nobody knows about!
Today’s guest, Brent Daniels, is KILLING it in his Wholesaling business and is going to reveal his secrets, in depth. He’ll show you exactly what he is doing (the formula is pretty simple) and how he discovered it. This method is a surefire way to outsmart your competition with ease.
To find success in this business you must ALWAYS be willing to think outside the box and do things that others aren’t willing to do. Brent has built his business for 3 years now and in this episode you will learn how he got started and why he has found SUPERNATURAL success in his wholesaling business!
You will also discover what he refers to as “active marketing”, what his pipeline looks like, and how he stays determined and motivated.
This episode is a game changer and will get you out there knocking doors and calling anyone and everyone you can, to make some deals.
IN THIS EPISODE YOU’LL LEARN:
- How one book made him take the plunge into real estate
- How he tripled his income just by joining the tribe
- What he is doing RIGHT NOW that is making him so successful
- Passive vs Active Marketing
- The best way to go driving for dollars
- The “Secret” to cold-calling like a boss
- The elements of a pre-qualified lead
- Success ratio for every call
- Why follow up will make or break this kind of marketing
- What a deal looks like for Brent
- How he earned an easy $29,000 on this deal!
- Changing perspective in your business
- 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 Hofheinz: Welcome to another episode of Wholesaling Inc powered by Investor Grit. Today we are going to deep dive yet another deal. My name is Cody Hofheinz, your host, and today we have a special guest with us. This individual is from Phoenix, Arizona, he’s been wholesaling for three years, and he’s been part of the tribes, just a little under a year since February. And this guy is just having massive, massive, massive success. And so we’re going to deep dive his deals. And this gentleman, his name is Brent Daniels. Brent, how you doing my man?
Brent Daniels: I am doing excellent. Thank you so much.
Cody Hofheinz: Good. Well, we’re glad to have you on the show. Let’s give a little scoop to our listeners, a little bit of a background story about who you are and why you got into wholesaling?
Brent Daniels: Sure. In college, I read Rich Dad, Poor Dad, like I think a lot of the listeners, and really just fell in love with the idea of being in the real estate business. So, I got a real estate license in 2004. In 2004, five and six, the market was incredible. I did very well. Just traditionally thought I was a genius. So, what most geniuses do in the real estate businesses is they open up their own brokerage, did that, and we opened up in the middle in June of 2008. And as everybody remembers the middle of 2008 was a very, very tough time for our economy and the industry. So that did not last long. Got into buying properties at the trustee auction here in Phoenix and did about 50 flips. The trustee auction got super, super competitive with a lot of hedge funds coming in and buying up pretty much all the properties.
So, got back into traditional sales in 2011. That’s when I met my brilliant business partner, Dustin Monger and did traditional business, and was out in the fields’ door knocking. We are door knocking for our investor clients, trying to find them off market opportunities. We would find these opportunities and just charge a 3% commission to our investors. Our investors would then sell those properties, before closing, to somebody else for 20 or 30,000, and we had no idea what was going on. We were like, “what is this”? Right? That was our first taste of the wholesale industry. So, we figured it out and decided to get into it a couple of years ago and it’s been going really, really excellent since. So, that’s a quick little background.
Cody Hofheinz: That’s fantastic. So, been doing it for a little over three years now, and then you joined the tribe in February and from there you’ve had just… And I think you’ve probably already… You’ve always had some success in wholesaling. Did it take off at that moment from February on or is it, “no, I’ve been doing consistent deals” or is this, “no, this last year it’s been getting better”?
Brent Daniels: No, since joining the Tribe, I mean it’s… Being involved in this group specifically has been incredible from a financial standpoint. Last year, we did 221,000 in wholesales, this year we’ll do 780,000 in wholesales. So, a significant increase.
Cody Hofheinz: All right. We’re ringing the bell. Wait, one second. Wait one second. We’re getting the victory bell going.
Holy smokes. So, not only doubled, you two and a half… Well no, you’re three and a half more than what you did last year in this year alone.
Brent Daniels: Absolutely. Yeah. It’s been an incredible increase. You and Tom have been absolutely perfect in the education and the motivation and the rest of the group. I mean, we have the best people, in my opinion, in the country to talk to, to bounce ideas off of. Everybody’s open. Everybody has that Go-Giver attitude. It’s been incredible. It’s been really, really incredible. And thank you.
Cody Hofheinz: Brent. I absolutely love it, but I love your drive. I love your motivation. I love your passion for real estate. I love your passion for wholesaling and all of this adds up to your success by the way. And I wish everyone could bottle Brent Daniels up because who you are and what you do each and every day and how consistent you are and what you do and that, we’re going to get into this, but that you think outside the box. You’re doing things that investors are just missing and not doing or not even thinking of. You think outside the box. You do things that are hard. You don’t go the traditional easy route of wholesaling. You’re really making things work. And let’s break that down and let our listeners know. Let old Rhino Nation know what is it that Brent Daniels is doing that is helping you find success in today’s market, as a wholesaler?
Brent Daniels: The foundation of our business comes from being super, super proactive. So, I’ve always been taught that there’s passive and there’s active marketing. Passive is a lot of direct mail, pay-per-click, some of those things and those things are outstanding, don’t let me get you wrong, but just my personality, my business partner’s personality, our group’s personality is to go out into the field and really find the opportunities. So, what we do is we like driving in the really cool, unique neighborhoods of Phoenix, the older neighborhoods that just have a lot of rundown properties, and we go into the neighborhoods, and we tried to talk to the homeowners. We try to get the phone numbers of the homeowners from neighbors or from family members or the tenants or anything. Any way that we can get in contact with those homeowners, and we direct our efforts towards having really good conversations with those homeowners.
Cody Hofheinz: Awesome. So, drive through the neighborhoods knocking on doors. What about homes that are like, you come across that are, we call it driving for dollars. You see it, it’s banned, it may be vacant, what is the best way to get in contact with this? I know that you have success doing this.
Brent Daniels: Sure. So, the easiest is just to go and knock on the door and see if anybody’s home. Oftentimes it’s tenants, or they’re vacant. If they’re vacant, then we’ll go, and we’ll talk to the neighbors. And we’ll say, “Hey, what’s going on with this property”? “Do you know how I can get in contact with the homeowner”? And you would be surprised how many people have the information for the homeowner, and are like, “yes, you know what, they’ve been talking about selling it, they’re tired of being landlords”, whatever. I mean, it’s a million different reasons for them to show that that homeowner has some motivation, and then we reach out to them. We just call them direct and try to have a really healthy conversation.
Cody Hofheinz: Okay, so what does that look like? Here’s the thing. I know cold calling, and you could say this by the way a hundred times today, how cool cold calling is, and how great it is, and there’s just going to be a ton of people that are going to be like cold calling that’s [inaudible 00:07:37] like “no way that day and age is over, it’s over, it doesn’t work, and no way am I picking up a phone”. But that’s why I wanted crack this mindset, because you’re not just having a little bit of success in this arena. You are absolutely crushing this arena. You’re getting this information. And listeners, just so we can understand, when he’s knocking on these neighbor’s doors, they’re happy to give that information out to him because they themselves are sick of a vacant house that’s getting vandalized, burglarized. It’s just attracts the wrong emotions of feelings.
It just attracts the wrong people to the home, and so they’re probably like, “yeah, Brent, here you go, here’s the number and here’s the name and call them today and see what you could do because we want this home fixed up”, or “we want this home sold”, or “we want some good neighbors in here”. And so, that’s awesome. Now what does that… Let’s break it down. You call that person, and they have no idea of Brent’s calling and what they’re calling about. So, how do you go about doing that, so that it doesn’t sound, so? I don’t know, maybe it is sounds salesy. What does that sound like?
Brent Daniels: No. We try to have a really soft conversational approach, so I’ll just call up and say “hi, I’m looking for Cody” and you say, “I’m Cody” and I say, “hi Cody, my name’s Brent. I know this is completely random, but I was calling about a home I believe you own off of cavalier” and they say, “yeah, that’s my home”. And I say, “well, I’m actually trying to buy a home in that neighborhood, and I just wanted to see if I could speak with you and see if you thought about selling it or would consider an offer”. And then from there you get all sorts of different responses. But when it’s positive, then you just go from there and try to find… On every phone call we try to find four things. We try to find their motivation, we try to find their price, we try to find their timeline, and we try to find the condition of the home.
If we can get all those things, that is a super pre-qualified lead. And from there it’s just working out the specifics. So, that’s our goal every time is to get those four things when we’re on the phone. I mean, anytime, even when we get incoming calls, that’s the goal that we have is to get those four things. And when we have those, we know if we get an appointment or if we get, a phone appointment, or go to the house or whatever, it’s a qualified appointment. You’re not just going there, spinning your wheels for somebody that wants retail value or plus. So, it’s really, really important to just talk to people, have a conversation. You don’t have to be salesy, you don’t have to be, “we’re this big cash buyer”. You just, talk to people.
Cody Hofheinz: So, Brent, let’s break this down yet again. You find out this timeline, motivation, the price, the condition and this all sounds good to our listeners. It sounds good to me. But let’s also break down even a little bit, step further, what are we looking at when it comes to ratio, so people can see what to expect, so they don’t get frustrated. Because I know this is not going to be, everyone you call is going to be like “slam dunk”. I’m going to lead this individual…
So, tell them how much work, how much grit you put in it. Yes, it’s easy. Let me take that back I guess. This is easy stuff in the sense of its simple principles, it’s simple. It’s just you go out and do, do, do, do, do. But it takes massive grit. It’s nothing hard. You’re not saying any verbiage that everyone’s like, “Oh crud, I don’t know the verbiage, I don’t know the lingo”, no, it’s none of that. But how much grit, passion, determination are you putting into this? What’s the ratio? I called this many people and it turns into this many points. This many appointments may turn into this many deals.
Brent Daniels: Sure. So, when we actually get their phone number, and we reach out to them, we’re getting about 1 in 25 are people that would consider an offer, right? Whether, or not, that offers anywhere near what they would take. It’s about 1 in 25 when you’re talking to them. Now, from that the real important thing to remember is timeline on this. Most of these deals take about five to six months to close. Not from the time that you sign the contract, but from your initial contact. So, it’s about building the relationship over that time and lead follow up. Lead follow-ups everything. And having that database of lead follow up and following up with them over months and months and months is the… That is the secret sauce for sure. I mean that’s what makes or breaks all of it. So, you got to be able to follow up, follow up, follow up, follow up. So, when we do get the number, reach out to them. 1 in 25 is open to it from that get 1 out of 10.
Cody Hofheinz: Okay. So, with that being said, you say it takes six months typically to build a good pipeline where you’re starting to see the fruits of your labor and your efforts. So, for the first one, two, three, four, five, six, you could have some little onesy, twosy, pop in there. But what does that look like? I mean, I know you’re, even from the get go, just because I know what type of person you are. You might’ve got the onesy, twosy, but what does it look like now, today? Now that you already have that six months behind, so, now everything’s now consistent and flowing. What does a typical month look like for you when it comes to like, “yeah, we’re getting this many deals a month”?
Brent Daniels: Five to seven deals from this a month.
Cody Hofheinz: From this strategy alone?
Brent Daniels: Yeah. 60 to $80,000 a month, consistently.
Cody Hofheinz: Holy smokes. So, five to seven deals a month, that equates to, you’re saying 60 to $80,000 in assignment fees.
Brent Daniels: Correct.
Cody Hofheinz: Every single month.
Brent Daniels: Yep.
Cody Hofheinz: That is absolutely… That is so awesome because here’s the thing, you add that, and I know this is not your only channel, so what’s beautiful about this is when you add this and you couple it with your direct mail, when you couple it with your Facebook, or your paper click, or your door hangers, or your bandit signs. You’re just adding yet another streamline of how to get these deals and you’re doing a dang good job at it. I absolutely love this brand like this… I’m trying to wrap my head around, how do I implement this right now, knowing that it’s going to take three, four, five, six months to even see the fruits of this? And that’s what I think gets so tough for people to understand, but hearing your story, hopefully it’s driving people to understand, “okay, I can do this, I can do this. I know this is going to be hard, I know there may not be much return for the first three, four, five, six months, but then something’s going to click on, turn on and it’s going to just have amazing results, the ripple effect after”.
Brent Daniels: Sure. And don’t get me wrong, there’s been a dozen times this here where the first conversation they’re ready to go. So, can we deep dive a deal here, that I can give an example of something that they can of…
Cody Hofheinz: Let’s do it.
Brent Daniels: So, we were in a neighborhood here in central Phoenix. There was one of those pod storage units in the front of the house that was just totally, you can tell, right? They have the original windows, the single pane windows, the lawn is brown and the trees are overgrown and you just, you know what it looks like, right? You have that sense. So, went to the door, could tell nobody’s there, it’s totally vacant. Went and talked to… Knocked on five neighbors doors to the left, five neighbors doors on the right, finally found the older gal in the neighborhood, which every neighborhood has, that knows everything about the neighborhood.
And she told me that the owner lived in Nebraska. She moved there a couple of years ago. She’s been renting it out but wants to sell it now. And here’s her number. I was like, “Oh wow, this is just amazing”. So, we called her up and had a great conversation, and she said, “I’m coming into town this weekend, come over with the contract and I’ll sign it”. So, yeah, I mean, she came into town, she didn’t actually end up signing it. She wanted to have her attorney in Nebraska take a look at it. But she went back to Nebraska and said, “send it to me over my email to sign” and I sent it over to her. She signed it there, and we closed it a couple of weeks later.
Cody Hofheinz: That’s awesome. So, here’s the thing, from you doing that, knocking the doors, five to the left, five to the right, finding an individual that knew this homeowner, gives you the number, you find out the condition of the home, the price that she’s looking for, the motivation behind it, the timeline, and she wants to… All these four things come together. You send over the contract and she signs. What does that look like on your side now? What did that equate to as a wholesaling fee?
Brent Daniels: We locked it up at 191 and sold it for 220 so, we made $29,000 on that one.
Cody Hofheinz: $29,000. Listeners this is what I want you… If there’s anything you could be jotting down today, it would be determination, motivation, taking imperfect action, and taking massive action just like Brent’s doing in his market. He’s not afraid to go knock that door. He’s not afraid to go drive for dollars. And when you see a ran down home, see if someone’s living in it. If so, talk to him face to face. If not, he goes a step further. It’s not, “Oh well there’s nothing I can do here”. No, it’s knocking on neighbor’s doors and finding the sweet old lady that knows everyone in the neighborhood, gives them the number, two weeks later payday for that is $29,000. That’s more than a lot of people make in a whole year, and he did that in two weeks time from start to finish. But did he work for two weeks on that deal? No. How many hours did that look like Brent?
Brent Daniels: Two hours. And by the way, the sweetest part of that Cody is, there’s no marketing costs. That’s all profit.
Cody Hofheinz: A little bit of gas for the car to drive you there and that’s it.
Brent Daniels: Sure. Yeah.
Cody Hofheinz: And maybe a Taco Bell burrito for lunch.
Brent Daniels: There you go.
Cody Hofheinz: I absolutely love it. So, super, super cost effective. Your ROI, your return on investment is through the roof because you don’t have to pay for all the high postage or this or that. Yet another reason why our listeners need to know that there are a ton of channels out there. If you’re just beginning, we have so many newbies on this listening to this podcast, and they’re thinking, “Oh, I don’t have much money to get into wholesaling, I don’t know how to market, and I don’t know how to do this”. This alone should give you drive and motivation knowing that you don’t have to spend a lot of money to get into wholesaling. You just got to be a Brent Daniels, and have motivation to go out there and just do, do, do. How many times Brent, have you failed? How many times have you made a mistake? How many times have you looked like a complete clown when you go out and do this stuff?
Brent Daniels: Thousands. Literally thousands. And Cody, the really important thing here is, when you’re going out into the community, when you’re talking to people in the community, if you truly want to give them the opportunity to have the easiest way to sell their house, to truly go out there, to provide that opportunity and you keep that, you have confidence going. It’s not, “I’m going to go out there and get this deal or get that deal or make this money or do this”. It’s about going out there and seeing how you can help out. And when you do that, you could go talk to anybody, you could call up anybody on the phone, you could call any lead back. If you have that in your head, if you put that splinter in your brain, that every day you’re going to give your time and energy to the community. You win. You win every single time. Every time.
And that’s what’s been the biggest change in our business. We stopped looking at it from, got to get this deal, got to get this deal, to how many people can we help today? How many people can we help this month? How many people can be helped this year? And these people truly, truly need help. They don’t know what to do. They’re in a box, and they need to get out of the box, but they feel helpless. And that’s been our experience. And it’s been unbelievably rewarding.
Cody Hofheinz: Dropping yet another golden nugget is exactly what you said. If I could repeat that again, in Brent’s words, it is. It’s going out there and seeing how you can help these individuals. Don’t think about the deal. Don’t think about how this home is going to equate to this many dollars. You think about that and the deals actually don’t come, but when you are actually out there to serve these individuals, help them. How can I help you? And guess what? At the end of the day, Brent’s the same mindset that if Brent isn’t the solution, Brent’s okay with that. But Brent is also going to stay there and help them find the right solution. He’s not just going to walk away and say, “well, I’m not the solution, see you later”. He’ll still say, “okay, at this point, here’s what I would do. If you need that, I would list it with a realtor”, and he’s fine with walking away from the deal after he’s helped this individual, but because he helps individuals, and that’s his mindset.
The byproduct is he gets a $29,000 check on that one particular deal and then like he said, over the year, over $700,000 he has done this year in wholesaling because he has the mindset of how can I help these individuals? And then the byproduct is he gets paid well for doing it. So, Brent, my man, I absolutely love it. Let’s do this. Give our listeners a favorite book. If you could nail one book down and say, “this is a book that has helped change my life and I consistently, maybe even come back to it one or two times a year”, what book would that be?
Brent Daniels: I read the Go-Giver every week.
Cody Hofheinz: Every single week?
Brent Daniels: Every week.
Cody Hofheinz: That’s awesome. Absolutely awesome. An amazing book. What golden nugget from the Go-Giver can you throw out there?
Brent Daniels: The secret to success is giving. That’s it. The secret to success is giving. If you can go out and truly give, just give, give, give, give, give. That’s it. You win.
Cody Hofheinz: I absolutely love it. Okay. With that being said, anything that you would do to help everyone out there, if you had to start over from fresh, scratch, and you’re at the very beginning stages, and I know that’s going back quite a few years, but if you had to do it all over again and start all over, what would you have done differently?
Brent Daniels: It’s simple. Join the Tribe. Get a coach, get a mentor, get a community that is absolutely motivated to help you out. Everybody that I’ve talked to, met, had conversation, I mean, it’s just been phenomenal. Joined the Tribe. I mean if you guys are accepting members and it’s open, then you need to join because you’re going to save two years of time. No joke, no doubt about it. You’re going to save time. You’re going to say time, you’re going to save money, and if you don’t, you’re going to be out there on your own, hanging in the wind, and you’re going to lose out on hundreds of thousands if not millions of dollars, guaranteed.
Cody Hofheinz: Brent, I love it. Thank you so much, and really I appreciate your time today. I know you are a busy man. Right when you hop off this, you are going to be right back to work and getting your team going. I just know the individual who you are, so I appreciate you taking your time to get on the podcast. This is something that our listeners are going to look and listen and download because of how many golden nuggets you just dropped today and ways to get into this, thinking outside the box that are very, very cost effective and have amazing results. When I hear your results, I always sit there, me and Tom always talk like, “Holy smokes, he is just killing it in his market doing a marketing channel that no one is really even tapping into”. So, good work Brent.
Brent Daniels: I appreciate it.
Cody Hofheinz: Thank you so much for being on. K, so Rhino Nation, if you want us to personally help you succeed and personally help you build your wholesaling business, go to investorgrit.com. That’s investor G R I t.com and go play around on the site. Go look at the testimonials, you might be able to see… Brent are you in there on that by the way?
Brent Daniels: Yeah.
Cody Hofheinz: We’ve Brent in there. We’ve got multiple testimonials in there. See how people are just succeeding nationwide in this little niche called wholesaling. And if you want to, you can also click on the coaching tab and you can book a call with our team and if we like what you have to say, we just might invite you to be part of the Tribe. All right, until next time Rhino Nation take care, and we’ll see you soon.