No More Living Paycheck to Paycheck Through Wholesaling | Wholesale Real Estate

welcome to the wholesale inc podcast america's number one podcast for new real estate investors where we know that finding discounted properties is the most proven path to financial freedom i am your host brent daniels mr ttp mr talk to people and i am telling you this if i can do it so can you so let's get started imagine this imagine what would you do if the first time you go out and you are you have so much courage and you have so much faith in yourself and you go out and you talk to a distressed property owner and you get that property under contract and for some reason you can't get it closed and you just feel you feel like the bottom is falling out you feel like oh no what am i going to do and then you get back on the horse and you do it again and that deal falls out and then you get back on the horse again and that deal falls out three deals in a row that you were so hopeful would help change your financial future which would help you go from believing that you can do it to you knowing that you can do it and it all just falls away you go from not from from having to cancel three deals and being at that place in your mind to closing 11 deals in a month that is story of the gentleman that i am interviewing and having a conversation with today he is from jackson tennessee it is my pleasure to bring bring on dustin ring onto the wholesaling ink podcast dustin say hello to everybody what's up everybody pleasure to be here man this is uh it's great to have you on here dustin i think what what an inspiration right you started out and it didn't work and it didn't work and it didn't work but you just kept going i mean what was when you were starting out and you were getting these properties under contract what was happening why why didn't these deals work out for you well uh when i first started out you know there's that there's a really hard balance and i guess that question that everybody asked like what do i find first deals or buyers if i if i find a deal to have any buyers you know how i'm going to sell it and if i don't have any buyers and you know they're going to think i'm wasting their time how many deals to bring them so it's just kind of that balance and i think that's where i was stuck and where i live it's a little bit more rural so i'm not i was finding deals they were at good prices but i just didn't have anybody that wanted to close on them i didn't really have too much guidance on how to push them to the moon i was posting them to marketplace but i didn't i hadn't made the relationship with the people in those areas now i have the relationships i got that deal now i'd go tomorrow but it's just at the time uh i didn't have and like like i said what everybody i think kind of fears is not having that buyer pull to close on these deals and let me just say if the deal is good enough and i think you know we've all said it's good enough to find the buyer yeah and that is true to uh in most most situations yeah but you're absolutely right dustin i mean if you're in a rural market and everything's spread out and you don't have a very strong reliable cash buyer database sometimes deals like you said that our actual deals you just don't get the exposure that you need and so we'll we'll have some coachable moments on this podcast i'll give some suggestions but mostly we're gonna follow your path your journey uh into wholesaling and really you know discover what it took to get past that you know what you what you've done um in the meantime to be able to build up your cash buyer database to be able to sell the deals that you get now so that's going to be exciting but tell me about you tell me about your like how you got into wholesaling real estate how did you find it it's such a niche that i it excites me to find people that are like me that found this and are doing so well and really enjoy it and have that energy about it so how did you find wholesaling found wholesaling um you know started digging into what's funny i'm still living in this duplex right now and i'm like i said i told you i'm closing on my my new house this month which i found for 80k under market value and it's turnkey so you know humble beginnings i'm in this 400 a month uh rent apartment right now so uh just because i'm closing 11 deals doesn't mean you know i'm above that you know i'm still not forgetting where i came from but anyways uh started i was in it for a while making you know 35 000 40 000 a year moved into this duplex um and it's funny my landlord actually gave me a copy of rich dad poor dad and it said on my sat on my shelf for a year and a half two years collecting dust until i finally cracked it open um and one of my buddies had mentioned you know real estate and this book and so i was like my landlord gave me that book i'll read it and so here i am a guy that's already paychecked a paycheck and when i say paycheck to paycheck and i'll tell everyone in the world this i was uh negative bank account balance to negative bank account balance i was wednesday thursday before payday i'm negative i'm going please lord don't let me run out of gas i think i got enough food in the fridge um i've already paid all my bills uh i can't wait for payday so i can pay my overdraft fees and then have enough to live for the next month until you do it again so anyways that's where i was in my life read that book i was like i can't get twenty percent uh to save for a house i can't afford to pay attention and uh like how am i gonna do that you know i'm struggling to pay insurance car phone all this stuff i have to have and um i ended up uh i ended up seeing somebody on a podcast and ended up just showing to a real estate meeting next and uh met a bunch of like-minded people mostly investors they knew a little bit about wholesaling when i asked but then you know essentially they're going oh you mean like you're like a property finder i'm like i guess essentially that's what you would call it a glorified property finder um but you know i need the capital to be able to buy these properties for this passive income that i want to create for my life because you know making 35 40 grand a year that's great for some people and if that wants to be your life then you know but no i'm not knocking that but not me man i was in a corner i was backed into a corner i you know i was just like it's fight or flight at this point yeah i'm either going to live and be broke and daddy's you know son i'm the glorified copier salesman for the rest of your life that's that's your hero you get to look up to and that i couldn't live with that you know um it has to be better than that so that's how i got into wholesaling um and like you said my first three deals fell through yeah it started you know well i think it's i think it's interesting there had to be something dustin there had to be something well there had to be something that sparked the your landlord to give you rich dad poor dad unless he's trying to you know uh teach everybody how to not be his tenants anymore you know it's kind of right it's definitely not self-serving for him um but there had to be something some conversation some fire some some spark in your eye um that that he saw that they gave you that and finally cracked it open and got into those uh being around other investors in the real estate meetup groups or the rias in your in your market there um and squatting up and seeing what's going on there and seeing other people being successful i think that that's absolutely critical you know once you see somebody else doing it you're like wait a second like i could do this you know what i mean like absolutely people are super human the way you say it and i i used to say this all the time too like i had a 0.7 gpa when i dropped out my senior year you know um 0.7 that's because i skipped most days and did whatever i wanted but you know i was not ever a uh like a just a like a smart guy i never felt like i was i felt like i had something in here like i was supposed to do something better than anybody else or like i was meant for better things i'm like i'm not meant to live in this duplex i'm not meant to make you know i i want to make a difference i always want to be a pro wrestler follow that for a while but um but yeah uh i wanted to do something larger than life and wholesaling has given me that ability now um but anyways yeah i'm sorry i might have gotten off topic there i don't know that it's fantastic so the first three deals how are you finding these you know what i love going to what is the origin story of the first actions that people took because i think it really tells you right matthew start down yeah you know what i mean um so go ahead i just started shouting to the moon um that first uh real estate meetup group the guy said well you know everybody always asks me how they can get started go home to your facebook right now and just type in i buy houses fast for cash and can close in 30 days just do it he goes i i guarantee you you know 99 of people can't even do that it's just getting out of your comfort zone i knew people knew i didn't have any money i was always negative and better on facebook people like oh i'm so tired of this guy that's the way i felt people perceived me and um that you know uh so i went home and did it and then i got a huge response everybody started man what are you doing dude what's up you know like and i just kept doing it more every day and then i started posting to facebook groups and then i went to fiverr and got me a flyer made and then i just started digging in more and more and just looking at like okay how do i find more leads and so facebook is where i started i also worked for a printer company so i would print out these huge these great quality flyers and you know if i before i had deal machine or an app i would go around driving and just tape flyers to front doors i mean i would just sweating my you know butt off in the hot summer down here in tennessee but um you know it worked i closed three deals off one flyer and i taped to a door so um you know that it was that boots on the ground at first because that's the only way i knew and i'll tell you for everybody that's got that over analysis paralysis or whatever you call it the first house i i got under contract i went to that house i brought me a digital camera i thought that'd be more professional right instead of my phone which is 10 times better than that digital camera i'm just taking pictures of stuff i wasn't a construction worker i don't know how to do rehabs at that point i don't know what to look for i've rented my whole life i've never owned you know uh so yeah i didn't know you know it was just that action of doing it and once i did it once twice three times i felt like after a couple times you know exactly what to look for you know the questions i asked you can start feeling out people a little bit more so then you start to come over that fear yeah it sucks at first just like picking up that phone it sucks you think everybody wants to do that no nobody just wants to go cold call people but you know it's the things you do that nobody else wants to do you're going to find success in and i think that's why wholesaling becomes you can become so successful in it because the few that are successful are doing the things that nobody else does that's it so what how did you balance it i mean you were doing i.t right you've got an i.t job you've got this passion for real estate most people start out in our business in in the wholesaling business with a full-time a full schedule full of responsibilities absolutely full-time job well whether it be the military whether it be stay-at-home parent or raising children whatever it is like how did you balance it where did you find the time because that's a question i get all the time on my dms on you know even even in our group even in the ttp family the coaching program people ask you know how do i balance this how do i fit it in so where did you find the right time to be able to time block and make it like sacred that nobody like distracted you from yeah and the business it's different for everybody's situation you know i have one son that you know i could see every you know every weekend or you know and you might have a family of four that you're you have constantly at home um so everyone's situation is different i was lucky enough to be able to have more free time than others so as soon as i get off work as soon as i got done working out or whatever you know first off i'm at work thinking even nothing about wholesaling i can't wait to get off work you know and that's how exciting it was but you get off work and just i guess really um you might have to sacrifice some some free time you might have some sacrifice some tv time you might have to stay up a little bit later dude i know sleep is awesome and waking up early sucks and it can be painful at some times but um you know start getting that snowball rolling then you want to work so hard you know you build it up and just keep packing that snow on there you know here here and there you won't have to uh i guess you know constantly look for time to to spend wholesaling and especially once you start getting a few deals on your belt you know yeah where i'm from the assignment fees aren't that big but some of these places people are wholesaling these assignment fees are huge yeah life-changing they're absolutely life-changing so what is your average steel size uh average deal size is anywhere from five to seven uh i would say i've actually pushed it up a little bit to ten it's been coming closer to ten now but you know um i'm in an area like i said it's more country out here more world it's a city but we have more rural areas and uh and and i will say you have more um local investors these aren't investors that go to uh bigger pockets and study these are guys that were born into investing their family did it for years their their their dad owns the realty company down the street that everybody uses so it's stuff like that and essentially what i'm doing in my market is educating everyone on how these deals work um because every attorney i go to which we only close with attorneys around here it's where the title companies uh i'm having to teach them how to uh structure an assignment and um it's it's very new around here but uh it's it's it's a little bit more difficult to work and then you know i was real i was really selling myself short at first i'd like just want to get a deal close like what's your bottom dollar and i'm like well i'd really like to make you know like two grand extra you know they're great okay you know thirty two thousand when okay great thirty two 000 write it up man i should have said 35 or 36 you know and i'll just be so anxious to lock a deal up but now um you know i let it float for a minute and and try to get the most out of it because these guys want your property they want to make the deal just as bad as you want to close the deal your cash buyers yeah cash buyers whatever yeah now are you finding that um there's a lot of competition for um there's a competition that starts but never finishes i guess you'd say um mostly around here we're in a realtor bubble so if you're not a realtor you can't work in real estate that's just the way it kind of is around here and i was a realtor for two years and i was a realtor up until about a month ago um so uh investing and not being a realtor i don't know it's just kind of weird around here in this rural area but um to answer your question uh anyways i'm sorry i kind of blanked there what was your question no i don't know is there a competition oh the competition yeah most of them are realtors yeah i'll tell you what though i've befriended most realtors around here now there's a lot that don't like what i do as far as you know no matter what you can't change people's mindset if they have one mindset this is the only way to do real estate it's kind of hard to change them over but i what i've done is i've befriended a ton of realtors that come to me daily for deals they have buyers they have buyers in california they have buyers in new york buyers that i would never make connections with and we'll do deal i do deals with realtors all the time and it's not just because i was a realtor but once you start and like working with them and showing that you're easy to work with they'll love working with you even if you're licensed or not but you know you can do both but being licensed makes it a little bit more difficult why aren't these realtors going after the same deals you are or are they i i would say fear um most of them want that turnkey house a 300 000 listing you know we're in a town where there's 50 listings right now and i've got 20 contracts under my belt so they're not going after them just because i don't know there's just kind of the stigma if you don't have this great portfolio listing portfolio you know when there's still money in investments but you know a lot of times realtors only getting paid three percent so if the house sells for 30 grand where we could make 10 grand on 30 grand they're going to make you know 1500 bucks they'll pass it off all day every day and i'll get leads like that too and then i'll partner up with them yeah yeah love it i love it so let's well let's let's let's break it down right i'm sorry man i'm all over the place no it's good no no this is good so you've got 11 deal you're going from canceling three deals to closing 11 in a month one being a house that you're by moving into and getting with 80 000 worth of equity um how are you doing this how are you finding these deals what are you doing because listen for everybody out there that's new to this there's three parts of this business keep it simple the first part is lead generation that's the engine of your business that is when you build up your pipeline of opportunities all right that is where you're going out there and you're having quality conversations with distressed property owners and seeing if they would consider an offer the second part of this business is conversion right this is doing the this is pre-qualifying them this is doing your lead follow-up and this is giving the doing your offer presentation and getting the offer signed and then third is exit strategy whether that be assigning the deal whether that be flipping the deal whether that be holding the deal whatever you want to do there there's three parts to this business so let's start with the first part uh dustin how are you what is your main lead generations what does that look like out of the 11 deals you're closing uh and closed this month what what is the makeup of those i would say at this point now that i've you know got my snowball rolling i'm dipping into a little bit of everything i don't send many mailers if i am driving for dollars i'm just adding them to a list to cold call or text right i'm i've got heavy radio here in town now i'll tell you radio is super expensive especially if you're in bigger cities but the leads i get coming through radio i've got an eighteen thousand dollar assignment fee pending right now i've got yeah like 70 grand pending just for this month and you know so and those huge fees they come from radio they're just just hot leads man i don't i don't know what it is they're unique i don't know you're going to spend all that money but it's going to come back it's going to come back that's what you know so thanks you're making chris arnold who does the rai radio that talks about it on this podcast very happy cr that doesn't that's awesome well um i've got a buddy that was a part of his program that does it in another state and um he all at this point all he has to do is wait for his phone to ring so uh but he's awesome we've uh anyways and that's a kid that when you're talking about making connections with people like i wouldn't have been able to be i feel like he's helped me become successful i've helped him become successful just constantly bouncing off marketing ideas yes like how are you like i would have never texted unless he would have like hey have you ever tried texting like no well you know what's all that about but now i do everything a text i cold call i have radio marketing i've got a few billboards just for more brand recognition so you know i'm in a smaller town so i mean you know it's on a main artery so i'm just like hey if i get my shove my i'm not from here from memphis but i've lived here for a long time i can just shove my face down everyone's throat you know i don't care if you're going to use my service or not but if you see me in the subway line but hey that's dustin he buys houses for cash yeah i love it what is your well then with all that you've got cold calling you've got texting you've got some mail you've got radio you've got billboard what are you spending a month in marketing i put the pin to the paper right now probably around seven grand awesome um maybe more you know i skipped a skit place a skip place let's give trace a list almost uh three lists a day you know i'm spending probably two three hundred dollars and uh we sent 600 texts yesterday just yesterday and these are in smaller markets and just for everybody skip tracing is what you it's a service to get phone numbers for the properties that you're trying to get a hold of uh batchskiptracing.com is the best batch that's what we use yeah use that ttp coupon code ttp coupon and you get a discount there but uh so about seven thousand maybe a little bit more but you're making 70. yeah so it's it's talk to me about how you met your acquisition manager okay kind of funny um playing call of duty i i cannot stand playing call of duty but my best friend in nashville would always beg me just kind of like our hangout session afterwards i can't see them but hey let's talk have a beer or whatever you know like talk and shoot some people um i'm not promoting anything like that but whatever you do um anyways uh he's like hey i want to introduce this guy his name's uncle buck on online but his name is colin he lives in nova scotia um and uh i just you know every day i'd be excited and log on talking about how the day went man i got this deal going and he's in college right now for business management so i'm like you know and he would always ask all these questions and go hey man what if i really need an assistant but what if i brought you on and you helped me with acquisitions and you know we both make a ton of money together and you can sit at home they're in full lockdown still uh up there so he can't he can't work his job he was making 1800 bucks a month he's making nine grand this month so finding deals yeah i think yeah oh no we're really good friends now he likes me a little bit more and i like him but you know that's just you know i'm just kidding he's awesome awesome he's gonna watch it it is the time of the podcast where we break down a deal the reason we break down a deal is to show everybody like open up open the kimono look at everything and and and see look under the hood and see what these transactions require right and just to put it into perspective and put it in like you can do this into the perspective you can do this let me show you the the nuts and bolts of this transaction so dustin what deal do you want to break down i'll break down my mega deal it was like my third or fourth closing the one where i said okay you know i texted my boss the next day and said hey i'm putting in my two eights okay um so we'll do that one and uh not my mic there so this is a just a it's a double wide i know a lot of people like can you you know wholesale mobile homes if they're on land heck yeah man big money uh people like that stuff uh but anyways um it's a a lady moved into her house uh her husband i don't know if you want those details i'll give you her motivation so she was terrible with her money to put it that way um she her husband passed away she got some large inheritance from i guess insurance or whatever she buys this uh super nice double wide trailer i mean it was super nice on four acres everything's brand new ads on a front porch back porch a blacktop driveway i don't know if you know how much like blacktop cement and concrete is but it's expensive she spent a ton of money getting this thing like exactly the way she wanted it and then she had it for about a year and a half and i believe i posted on facebook and there's facebook groups that you can post to for marketing free groups i don't know if you don't know about that or not but like if you just like type in your channel what's it like facebook free groups yeah you know what i'm talking about yep okay yeah just like you know hey in jackson buy sell and trade backyard yard sale i'm looking for houses to buy and then yeah that's how i got in contact with her but anyways um we haggled on price uh she called me one month and um she was ready to move forward but she was having this issues where her daughter was living in the house and uh didn't want to move and so it took about took a while you know i got this this lead right when i started and it was about you know a month and a half two months later when it finally we finally got it under contract and closed but anyways um you know her daughter was just i guess upset that she was selling and finally we agreed after two months she calls me another blue and says dustin i want to sell right now i'm getting my daughter out i'm ready to go the phone i drive out there immediately go home print out a contract drive out there immediately um she we we haggled to a price i make her an offer it stung to make that offer but i knew i had to make that low offer because uh they're always going to counter that offer you can you can always go up you can't go back down so how to make that offer um and uh we ended up she ended up going like five more grand i think i got it under contract for 40 grand um and real quick dustin just so you posted to the facebook free group what did you post uh well what so i used to just post my flyers and that's it like a firefighter's day just dustin buys houses fast for cash need property you know it's like a poster almost a picture but it's just all on that post you know divorce moving out of town you know relocating vacant property all those bullet points all those pressure points um it's just it's just one page and i'll use that as my flyer to also tape to people's doors yeah yeah and i just hanged on the fly yeah she called me okay off of facebook okay and it was a free lead i mean all i did was just log into my facebook and say go to a group it didn't cost me a dime i didn't have to do facebook ads or anything um so anyways uh i drive out there we couldn't get to a price she's like no never mind i'm not interested i can't do it at that price so i said okay i walk away from the deal and that's one of the hardest things to do with the front you don't want to lose that deal and you're so anxious to get it but if you walk and they're truly motivated they'll call you back yeah 45 minutes later i get home i'd make the 30-minute trip home she calls me again says never mind i change my mind i want to sell now come back out here i drive right back out there get it under contract for 40 grand and uh ended up selling it the very next day for 55. 55. and so you made how much 15 on that one but i ended up i made it right oh yeah 15 grand that was half my yearly salary right there so you can imagine how i felt and that's when you were like see you boss see you boss you know no more um so i did make it right though their central unit ended up going out right as we closed and so you know i was like you know what man um you know they pay me you know and i'm i'm humbled as hell so i ended up throwing them like another like a thousand bucks after closing so i think i made 14 000 just to get their hvac fixed got it awesome how did that feel when that 14 when you when you saw that 14 or the 15 when it came in how did it feel what was going through your brain i thought man i was untouchable for a minute like i'm just i'm superman dude you cannot touch me um grant cardone here here i go you know i'm just kidding but no um like that's how i felt like okay where's my or where's my awesome suit and everything and uh but you do have to stay humble it's hard not to stay humble sometimes when you're making these huge checks and you just want to shout out to the moon because if you've come from nothing which my family didn't provide much for me at all it was either you know sink or swim i joined the military right after i got out of high school because my parents were like you ain't going to be an f up here you can be f up over there but not here so um uh it's it's amazing to be able to create something out of like just the success out of nothing after it's almost just like pure will like yep i'm so motivated to do this that i'm gonna make it happen and when it happens it's like i did it i made fire you know so it's awesome it's an awesome feeling and then i still get excited about deals i i can't wait to market a deal when i get a good one it's not about all about the money but it's like man you know the volume i'm moving and everything people are paying attention i'm very vocal with what i do not necessarily like saying hey i'm a wholesaler but you know they see me moving deals and stuff uh so anyways love it how do people if people want to get a hold of you if they want to reach out if they maybe they're in a similar situation as you and they just need some guidance or they yeah they want to throw you some love how do people get a hold of you absolutely you can hit me up on facebook i'm not big on instagram i do have one i know it's called but i'm big on facebook uh you can just hit me up my name dustin ring i have right here in jackson tennessee i've got a page called dustin buys houses fast as well you can hit that up um you can email me d-ring buys at gmail uh but you know i'm a facebook haul like i'm always on there marketing or doing something doing a motivational video or something awesome i'm on there someone that'll be the best place to get ahold of me awesome guys reach out to dustin especially if you are in tennessee uh i'm sure that um you know if you're somewhere in tennessee you guys can meet up and uh get connected or you know joint venture do some deals together for sure yeah absolutely i'll do you know if you need help just holler at me i'll help you any way i can awesome dustin thank you so much guys listen the moral of this podcast is be loud here's the thing you post to the groups don't don't be scared to be loud when i talk about ttp when i talk about talking to people uh people correlate that just with cold calling but it's not just that it's just getting out there and building a network of people that understand what you're doing feeding your your passion to be a real estate entrepreneur by letting everybody know about it and good things are gonna happen you're gonna be known as the person in town just like dustin that does deals that list looking for distressed property and all of a sudden you're going to get referrals you're going to get opportunities people are going to be a part of your cash buyer database that's what it's all about so be go out there have courage just like dustin and be loud and if you are interested in joining the most proactive the most loud group in real estate investing it is the ttp family it is the ttp program go to wholesalinginc.comttp com forward slash ttp check it out scroll down check out all the testimonials check out what it's about if it feels good in your gut sign up for a call i look forward to working with you personally so that's it dustin thank you again for jumping on here what a uh incredible story an incredible journey and for everybody else out there as always i sign off by encouraging you to talk to people till next time love you guys see ya

Channel: Brent Daniels - Real Estate Coach

Views: 3,851

Rating: 4.9411764 out of 5

Keywords: real estate investor, real estate investing, rental property, rental properties, wholesaling houses, real estate coach, real estate coaching, real estate training, investing real estate, real estate tips, real estate advice, property investor, investing, investment strategies, money talk, assets, entrepreneur tips, business tips, wholesaling, cash flow quadrant, income stream, real estate investors, brent daniels, ttp, coaching

Id: _DvuGX9Ilqw

Length: 30min 40sec (1840 seconds)

Published: Tue Jul 13 2021