How to Find Houses to Fix and Flip

But your numbers are off. And so I want to throw out an offer to you and say I would buy this deal at 40,000 lower than what you have. And you’d be surprised at how many deals we buy that way. But the majority of the deals that we buy are directly through text message from wholesalers who they’d rather sell a deal to somebody they have a relationship with, then go to a an email blast, most deals don’t sell on email blasts, the people the buyers have been conditioned. The smart buyers like me, we’ve been conditioned to avoid the email chain at all costs. And we’ve just learned go build a relationship directly with a wholesaler. So like, here’s, here’s an example. I have a guy here, local, his name’s Josh Barton.

And I know Josh Barton is a wholesaler that’s going out on appointments 3456 times a week. So Josh Barton said, I’ll text him on Monday. Hey, man, what appointments do you have this week, it’ll go I have five appointments here the addresses, he’ll actually give me the addresses of the appointments he’s going on. Okay, this is a guy that spent they spend $50,000 a month in advertising like they’re savvy wholesalers, and it even them, Sam, I’m gonna guess a little bit about your personality. I think you’re a little bit more of like an analytical type. Would you agree with that? Yeah.

Okay, so that’s closer to Cody than you.

Right? So analytical types. Here’s the challenge with that. You want to go through a list, and you want somebody to literally tell you do this, then do this, then do this. And then your output is this, right? That’s what you want. Unfortunately, no business owner in the history of the world is ever going to be successful by just going, I do this task, I do this task, and I wait exactly this much time and make this much money. You have to learn the personal skills of how these deals get done, because the majority of the people that are bringing you deals as wholesalers, do you think they’re engineer type analytical types?

No, they’re the absolute opposite of that. And they thrive on personal energy. They thrive on relationships, and building personal relationships with people. That’s how they thrive. So if all you’re doing is copying people’s email blast, you’re literally doing the exact opposite of what you should be doing. You should be calling them and saying, Hey, my name is Sam. I just saw this deal come out. I’m interested in it, but the price is out of where I need it to be. Are you guys negotiable? On this price? They’re gonna say no. And this is where analytical types have a really hard time. Because you’re like, wait, they said no.

So I guess they mean No, no, they don’t mean No, right? This is where the black and white brain has a really hard time. It’s like, Well, you said you weren’t interested. But paste is saying you actually are interested, what am I missing? Here’s what you’re missing. They typically have an inspection period on that property, as you probably already know. So if they have an inspection period on that property, guess what happens in six days, seven days down. The road now they’re going to try and fire sell that property to anybody before their inspection period gets ran out. So the problem is you guys are looking on the MLS, you’re waiting for a broker to send you deals which good luck in this market.

Like why would a broker send you a deal when they could just throw it on the MLS? There’s no reason why. So you’re waiting for that stuff, which doesn’t work. That’s why I don’t believe in on market properties. Yes, you can get deals. But can you build a business based on on market only? And the answer’s no, you can’t. Okay. So what what we do with wholesalers and their email list is I only use their email blast as a way to build a relationship with them. That’s it. It’s a conversation starter.

That’s it, I look, every time I look, an email comes to me from a wholesaler every time what I do is I say, this is a great way for me to build a relationship with this person and just say, hey, I’m interested in this deal. You don’t beat up them up on their ARV you don’t beat them up on their renovation costs. They don’t want to hear that. And they they everybody already tells them they know the numbers are wrong. So what you do is you just say, Hey, I’m really interested in this deal. Are you negotiable? The answer is going to be no, not really. Or maybe you know, what are you thinking? You go hey, man, I’m really low on this one, I get to 80. And they go oh, man, I’m we’re nowhere near that.

Okay, no problem. Now, what do I say? You say? How often are you guys getting new deals? I’ve got money to spend right now, how often? Are you getting new deals? And how can I develop a relationship with you. So the second you get the deal, I’m the first person to know now you’re getting, you’re getting a text message rather than an email blast. So what I’ve done with other people that go, I need to make money today, I need to make money today. Okay, we’ve done this multiple times with my wife, where we show this on a live where I go watch how easy it is for my wife to make $5,000 In the next two hours.

And what she’ll do is she’ll just call wholesalers, she won’t call wholesalers, because she already has a relationship developed with like 100 wholesalers here locally in Phoenix. So she just sends the same exact text message to all 100 of them copy paste, copy, paste, copy, paste, copy, paste 100 times, all the way through, hey, this is Hope you’re having a great day. Wondering if you have a deal for me to look at literally, it’s all she says. And what will happen is out of those 100, she’ll get about 15 or 20. People, Senator, yeah, we got just got this deal. Sometimes they’re sending the exact same address as the other ones, right? Sometimes three people are sending you the exact same address because they’re daisy chain. And that’s fine.

You never want to you never want to ever say anything like you’re doing something wrong, or I’ve already seen this deal, right? You don’t ever want to call them out on it, because you’re really trying to just build a relationship with people. And then what happens is after out of those 15 deals, she looks at probably 10 of them because five of them are automatically no don’t want that it’s a two bed, one bath or it’s a you know property that’s basically falling apart, whatever. And we don’t want that. So she then looks at the other 10 she calms those 10 And then she sends an offer on all 10 And then she buys a deal out of one of those 10 It’s not easy. And the last time we did the Zoom was probably a month ago.

I almost want her to do this just for you, Sam like I want her to like show you how simple this is and be like, hey, in a two hour time frame, watch my wife send 100 text messages, get 15 responses. It’s never the same people by the way that are replying and that’s another thing that analytical people have a hard time with they see like, oh, this person it didn’t even reply back to me they must be bothered by me or upset with me. And it’s like no, they’re just busy. They’re driving they looked at your text like Nope, I don’t have a deal so I’m not going to reply to Sam like then the next time you send another group of 100 messages the people that didn’t reply to you last week are actually now the people that are replying to you this week right and you just don’t get offended by it at all ever.

So then my wife goes through she looks at those 15 things immediately five of them are trapped like so bad and she politely thinks them thank you so much for sending this deal probably not a good fit for me. Let me know when you have the next one Have an awesome day you’re the best thank you so much really appreciate the opportunity polite polite kindness kindness kindness all that’s something also analytical people have a hard time with is like over gushing compliments. And my partner Cody is like, you have to beg him for a compliment. So you got to be good at those things. And then the other 10 you then my wife comps, those as she’s copying them, she’s like, don’t like it don’t like it, here’s the number I would buy. Here’s the number I would buy. Here’s the number I would buy every single one of them.

She’s shortcutting their price by 3040, sometimes $50,000. And she then sends them an offer and says Hey, price is probably a little bit high for me, but I would be a buyer at No, you send it out at 250 I’d be a buyer to 10 Let me know if there’s any space for us to work on this deal. And then she’ll get one of them to come back because yeah, if you can close in three days out you can be my buyer. Think about this, Sam Think about if you have a relationship with Ricky, you have a relationship with Lenny you have a relationship with 10 other fix and flippers in New Jersey and all you do is your job is Sam to go and know every single wholesaler in New Jersey in the next three months.

How do I know every single one of them and essentially, I go do the same thing every single week text the same people I don’t have to cold call. I don’t have to negotiate. I don’t have to follow up with sellers. I don’t have to have a CRM virtual assistants. I don’t have to have anything and then what I do is I go to Ricky and I go and you go hey, I got these 10 opportunities. Here’s the price my I’ll sell it to you for an extra 5000 bucks and send it sell it over to Ricky for 5000 bucks. Literally if you want to make money this week. That’s what you do.