What if there is a way to do real estate wholesaling forever? In fact there is, and it comes in the form of distressed properties. Brent Daniels shares how searching far and wide for these assets will allow you to never run out of inventory to do business with. He also tells the story Acres of Diamonds by Russell Conwell, which is about an African farmer who sold his land to find another land that holds diamonds. Unfortunately, the land he sold was already holding the biggest diamond ever to be found. Brent explains how its lesson of learning where the true treasure lies impacted his wholesaling tactics to get hold of endless real estate opportunities.
Wholesaling Quicktip – The Secret To Becoming An Unstoppable Real Estate Wholesaler
In the story Acres of Diamonds by Russell Conwell, the African farmer sold his land in hopes of finding another land that holds diamonds. Unfortunately, the land he sold was already holding the biggest diamond ever to be found.
I want to get into the right headspace, the right frame of mind because I remember as a brand-new real estate entrepreneur, I was so excited about the idea of finding discounted properties and diamonds out there that nobody knew about. They’re sitting there, there are opportunities out there and I was going to find them but it took me some time to figure out exactly how to do that. I want to cut all that time out for you so that you can get to these opportunities right away.
It reminds me of when I was 22 years old, I remembered that I listened to this recording by Earl Nightingale called The Strangest Secret and it was incredible. It was old school, it’s from the ‘50s and he had this deep gravelly voice. He talked about this story about Acres of Diamonds by Russell Conwell. I thought that it was so impactful because the story is there is an African farmer in Africa at the time, diamond mines were getting discovered all over the place. This farmer was like, “I need to sell my land and I need to go and I got to find one of these mines.” He went out there, sold his land, was searching for these diamond mines and never ended up finding them.
The moral of the story was the guy that he sold his farm to was walking around, skipping around, in the river that was on the land, picked up an ugly rock and put it on his mantle. He thought it was an interesting shiny rock. He had a guy come in one day who was a diamond expert. That diamond expert looked at this thing on the mantle says, “Do you know what that is? That is the biggest diamond that has ever been found.” He’s like, “Are you kidding me? I have these all over the place.” The guy that sold his farm to look for a diamond mine already had it. He already owned it, it was there. He just didn’t know how to find it. He didn’t know how to polish the stone and discover what it was that he was looking for.
The ability to find discounted properties will go on forever. There’s no end in sight.
That’s impactful and it hits home when you think about what’s going on in our head. We’ve got everything that we need, we’ve got all the tools, we just need to know how to polish the stone. We need to know how to find those diamonds. Acres of Diamonds is an appropriate title for it because, in our business, the crazy thing is not only is it a wonderful story about mindset but it’s literal. There are literally acres of diamonds in our community at all times and they’re called distressed properties. Everywhere in every community around the country, we have acres of diamonds, we just have to go out and we have to find them. That’s what leads us to the theme of this show, which is driving for dollars. This is how most people start out. This is how I got my first deal. This is how the most successful wholesaler, Jamil Damji, talked about it on our show how he was walking for dollars. He saw a sign out in the front and he made a call, that’s how we get started.
All of these real estate books that we see, all of these YouTube videos that we watch and podcasts that we download, it all comes down to finding distressed property owners and properties and having a quality conversation with that distressed property owner. In 2021, we have the tools. We have everything we need. There’s no excuse to finding these acres of diamonds that are sitting there right there in your community at all times. When the day comes, when every single house in your marketplace, in your city, your county, your zip code and your state, when those are all fixed up, when there’s nothing, it’s utopia. It’s done. It’s over. It is a conveyor belt that’s never going to happen. Properties get older every single day. The elements beat-up properties every single day. It will go on forever.
The ability to find discounted properties and distressed properties will go on forever. You could do this forever. That’s the beauty of this thing. There’s no end in sight. There’s no, “I’m going to run out of inventory. There’s too much competition.” That doesn’t exist. That’s only in your head. In reality, there are acres of diamonds everywhere. Think about it. What is the average diamond sell for? $2,000, $5,000, $10,000, depending on what it is. We can find deals in the smaller and less expensive markets that earn $7,000, $10,000 every single deal. Let alone getting into, we average $42,000 a deal in Phoenix. Diamonds, they’re littered all over the place but it is our job to go find them.
The advantage you have when you get out into the streets and you start looking is your inventory. This is your store. You’re looking on the shelves. Where is the inventory? Where are these properties that you are going after? It’s fantastic to pull lists. It’s great to filter for distress with probates, pre-foreclosures, inherited properties and tired landlords. We could literally go out and find distressed properties with zero budget to $60 a month. That’s how phenomenal it is and that’s how over time, our business has evolved to be able to give us the tools to be able to do that.
About Brent Daniels
Brent 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, “don’t-wait-around-for-business” attitude to help you CRUSH your wholesaling goals as quickly and easily as possible!