Real Estate Deals: Role Playing & Running Numbers On Deals In FB - RET Ep 19 | RandyStedwell.com

Join us as we explore the art of deal analysis and negotiation in the context of real estate deals in Episode 19. This episode covers role-playing & running numbers on deals on FB. For more information, please visit our website: https://www.randystedwell.com/

Hey Everyone, On Episode #19, We will be Role playing different situations while talking to Sellers. Also, we will be running the numbers on deals that are posted in the Facebook group or someone putting deals in the chat. We will be doing a Q&A session as we go like we usually do, but I will also break down how I JV (Joint Venture) My deals. We will go over Our new Deal Analyzer as well as How I started my buyers list.

This is for everyone out there who wants to know about Metro Detroit Off Market real estate. We will be interviewing people every week and taking questions from everyone in the comments, or they can come on video with us. We will post the link in the chat when the LIVE starts for those who want to come on video with us.

Title: Real Estate Deals: Role Playing & Running Numbers On Deals In FB - RET Ep 19 | RandyStedwell.com

This video explores information on Real Estate Deals: Role Playing & Running Numbers On Deals In FB - RET Ep 19, but also covers the following topics:

Real Estate Deal Analysis

Running Numbers On Real Estate Deals

Real Estate Facebook Group

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✅ Other Videos You Might Be Interested In Watching:

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👉 Mentors

https://www.youtube.com/watch?v=4bYJrfTvPsI

👉 Real Estate Talk w/ Randy Stedwell Episode #8 | Malcolm Turner Castle Commercial Capital LLC Part 2

https://www.youtube.com/watch?v=7PKdlCmdqrk

👉 Real Estate Talk w/ Randy Stedwell Episode #8 | Malcolm Turner Castle Commercial Capital LLC Part 1

https://www.youtube.com/watch?v=Pc_vwCJW8v8

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© Randy Stedwell.

hey everyone out there in YouTube and Facebook land how you guys doing today

um hope everyone's doing well I I am here uh

so we're here for another episode episode 19 um for the real estate talk with Randy

steadwell uh we are here to uh do some role-playing as well as running some

numbers from some deals that are being posted on the Facebook group so

um I'll run the numbers at least on my end what I what I look at them that way

it will help you guys understand uh how they are you know what buyers are

possibly thinking of at least from my understanding um there are the comments here so if

there are any differing opinions please do uh put in the comments if you want me

to go over a deal excuse me if you want me to go over a deal that you currently have under

contract uh or anything like that please put it in the chat we'll look at it we'll see what we can do

um and kind of go from there so uh with that being said

um you know happy to show you first off I want to go over how to talk with

sellers on uh how to talk with Sellers and kind of

role play a little bit so with that being said

um sellers are always going to be looking for the quick cash the quick money they they're they're gonna be like

well I want to all cash offer but I want it in retail I want retail price I want

whatever Zello says right so what you do is you go through you go through and you

talk to them and you try to figure out why why do they want that price why do they wanna

um figure out you know what's their motivation and figure out what is keeping them saying

Hey I want that price well what if it's just because that's the price that they see

okay so you have to um you have to check it out and you have

to talk with them deep dive and this goes back to what we were talking about last week

on building relationships and building rapport with the seller uh you you have

to figure out exactly why they want to sell what is their reasoning and kind of

take it from there so uh for instance if their reasoning saying oh I just want

that price and if I don't get that price then I'm not moving then they're not motivated okay

you we cannot convince people to sell we cannot convince people to to give us

their house or or anything like that so we're here to be able to give them

options that is it okay so with that being said if they say oh I want Zillow

price oh yeah but I have a mortgage I'm trying to figure out this okay great

if they don't really have equity in their house there's other options the creative

options okay if you figure out that say hey the

reason why they they need say they want that price because they want to walk away with

they want to be able to walk away with you know you know 20 grand and after they pay off the mortgage and

taxes and everything well now you now you get down to the meat okay well

for us this is how you would bring it up well for us cash is expensive for us so

we need a bigger discount for cash but we can usually come up in higher in

price if we can take over your existing debt is that an option that you might be

interested in okay we can talk further about that and how it would work

um but I could give you say your ten thousand dollars or fifteen thousand

dollars cash up front as a down payment and we would take over your mortgage

payment that could be at three percent three and a half percent four percent whatever we'd have to get all that

information from them but it's something that you would talk

with them and see hey is this something that you'd be interested in and if it is

if it is something that they'd be interested in then you run the numbers you get the rest of the information

okay uh that's kind of how you start going forward that way

if for some reason they don't want to give you the information then say you

know Mr seller I I completely understand you don't really want to go out there you know if that were the case then I

have to give you all my all cash offer which is going to be a lot lower okay and you're probably gonna have to be

coming to closing with cash uh to pay things off this way at least I

can try to come up to your number and we can see if we can make a deal happen

and and that way it works out for both because I I hope you understand that I'm

in here to make money this is my job not I'm not a charity I I don't I know you

don't expect me to be a charity okay so and you you get through to them that

they they understand that you are this is a business

you are there to make a profit and they're like oh as long as you can help me out with my if they're motivated

enough as long as you can help them with their situation then they will they will be happy to

hear okay they'll be happy to help out they'll be happy for you to help out and

kind of take it from there so with that being said

um in the chat if you are in the chat um put over off to the side any scenarios that you want me to go over

I'm happy to bring it if you want to come come on video or even just audio

um we can put the uh we can put the chat over here

the link to the stream yard where you can come on and so I did to the YouTube

and I'm doing it to the Facebook group as well if you want

to come on and we can play some role playing as well okay

um you know I'm all for that I I want to help out as many people here as possible

and role-playing uh role-playing some

uh uh some live calls or some calls in

general I think will help everybody out there so

um these are the scenarios that I've come up with and the scenarios that I've

I've seen these are my own experiences and these are reactions that I've seen

come from the buyers that I've talked with okay

so with that being said like as soon as I bring up uh if they're a higher price

I I do exactly what I just said I always go for the cash offer first but if they're too high of a price or

you know we can kind of meet in the middle um I let them know hey you know

sometimes we can come at at things with a creative option you know if we can is there is that

something you might be interested in where we would either pay on payments

whether to do a seller finance or if you have an existing mortgage we could we could take over your

existing mortgage okay is that something you might be interested in this opens the

conversation okay with that being said if they're open to

it then when you give them the offer you give them all offers okay in order to do

that you've got to get all the information okay so with that being said

you can do uh that is the reason why I do have the

I'm going to

this is the seller finance calculator that I have okay and this is the way

that you would figure out what is a a good price for you okay

whether you want to do a five-year balloon payment whether you what interest rate you can there's a link

here that tells you um what the balloon payment would be at what interest rate and what payment

and this will help you determine on your cash on cash return what you're

comfortable with so on and so forth okay this will also help you with

your um with a sub 2 deal you put the correct

information in here for a sub 2 deal as well it acts the same way okay uh the

only fields in here that you change as anything in yellow okay

um same thing for Buy and Hold and also fix and flips okay another big

popular thing right now is it's called a Novation agreement is if they're really

stuck on their price but they don't want to do a seller finance or anything like that you pitch an ovation agreement you pitch

hey how about we can try to come up to your price let's let's see this we lock it in

at you bring the price down a little bit if you can um

but I'll put up the money for the renovations we'll flip this

okay and then you just get paid out on the back end

that way I don't have to put out the purchase price and you can and we both

benefit that way or you can simply do that and then say we split the profits

over x amount of dollars whatever the case is okay

um however you can the good thing about seller finance is that you can negotiate

it however you want okay so

um also we have the rehab calculator here the rehab calculator uh you can do all your individual stuff

this is where you're gonna go in depth but if you wanted to do a quick rehab

and if you want to do a a quick one then you

would do whatever your your per square footage for light medium and large and

then put in the square footage of the home here and then you would this is a drop down menu you'd select light medium or or

heavy light medium or large rehab and it'll come up with a purchase price here or the the renovation costs

so um with that being said I again

chats are open off to the side please do put in any scenarios that you want you

do want to hear I'm happy to go over them in the meantime what I'm going to

do is I'm going to come over here I'm going to bring this down and

I'm going to open up the screen share and we are going to

look over any deals that we have here in the Facebook group okay so this is

the Metro Detroit off-market Real Estate Group I just changed the banner there today

um we'll see if that works I I I I like making a little bit little changes here

and there and see see how things work um so

with this being said I try to keep this group as much

centered around real estate as possible I try to keep the spam to a minimum as

much as possible so please do if you have any questions about and about

anything real estate come in here we have about 4 800 members in this group at the moment okay and

you know if I don't have the answer somebody in here should have the answer so uh we are posting deals I know it

seems like it's not but we are posting this is a commercial deal here so we are getting some commercial deals uh people

that post oh I got a nice duplex rent ready after you know post the full deal if you want to get it gone post the full

deal this is what what I when I see this normally

I see it's priced too high most most likely it's price too high or somebody's

just being lazy so um this here is the Warren deal

um that I've been seeing going around right now they're asking uh 36.5 I also

just got somebody sent me this deal uh with an up charge at 55. uh it's crazy

so uh this this guy Uval is usually

pretty uh at he's pretty um

active in the group uh so he's probably the person who has it directly under

contract I don't quote me on it by any means but um this has been in here for a while uh

I think you know for 36.5 I'd have to walk it to see if there's space enough to make it back into either a

two-bedroom because it being a one bedroom in here is not a very good appetizing

you know it it and it's a very small place so I'm gonna try to find one that this

one's for rent then let's see here

all right so we got a one in the four eight two two eight forty five cash only

so we have

let's look over here the photo the photo link does not work

and that that's a key like if you're gonna post a deal in here make sure your links work

all right so newly vinyl windows throughout two water tanks and furnaces use will will

be provided at closing okay so the water tank and furnaces are

are taken out because they don't want to be stolen uh new Plex nupex Plumbing new

electrical renovation started but never completed uh selling it as is so I'd really have

to see exactly how far in okay they're saying arv is 128 to 133

okay so let's just do a

because this is probably going to be a Buy and Hold situation all right

so at 45 we're gonna do

forty five thousand okay

all cash and rehab costs let's see what the rehab

costs they're they're trying to estimate I'm going by their numbers here all right we can run they have they have comps

already here I I'd have to see if those comps are actually valid to be honest

um but based on the outside

let's see here this is

great opportunity this is a two bedroom one bath each unit

so it's a duplex all right

so let's put rehab at let's put it at thirty thousand

okay closing costs let's put it at 2400.

okay mortgage payments gonna be zero

all right and so with rent for a two-bedroom

we're gonna say it's probably gonna be about 900. uh so 900 times two we're gonna be at

um we're gonna be at 1800

okay so on that being said the taxes

on this property I'm gonna estimate the taxes to be a right around

2500 it might be less it might be more don't

know that yet um one second here

let me go back Insurance we're probably going to be at

like 1200 a year okay

so let's

bring up the calculator and if you look on here on the

calculator uh so I did 45 the purchase price is 45 000 and the down payment is

uh it because this is all cash it sticks to forty five thousand the rehab cost

will be roughly 30 000 okay uh closing costs roughly 2400 okay so we

have the the mortgage payment this is right now we have this set of zero

because it's going to be an all cash deal Market rents would be eighteen hundred because it's a duplex 900 per

unit two units not you know that'd be eighteen hundred

um we are taking a 10 out for management five percent for vacancy five percent for Capital expenditures

uh for the taxes I'm estimating about 2500 it might be lower because it's in

Detroit I I really have to look that up in order to do that I can go over here to this link

uh but I want to get through more deals here insurance I'm estimating right

about 1200 a month if you have more deals you can get that cheaper all right so it looks like estimated

cash flow is about 1131.67 per month

okay so we're working on about a 17.5 percent cash on cash return

that is a pretty I I think at 45 000

okay that works if somebody comes in

and does 40

that's 40 000 that comes in at 18.76 percent you know uh I think that will work it

really just does depend on the rehab estimate I would be able to gauge a

little bit more if their uh photos linked worked

always gotta check your photos link um I'm not going to go private messaging everybody I you know checking the photos

link um and they may even came back come back and say oh no this only needs about 10

grand worth of work how do I know that you know I don't know if the person did

the work previously okay um

if the person did that did the work previously just did not uh

did not do a good job or if they you know what was the issue so what was the

issue they didn't run out of work I have no idea so uh something like that is

where you gotta you really have to check it out let's see if I can find another one this

one is on on 9275 uh Apple Line Street by the way

um I think at 45 it could be a deal okay uh you're gonna be all in let's see

you're gonna be all in toll investment for 72-4

and if if you wanted to bur that out 100 percent uh you can easily do that or if you just

wanted to keep earning the cash on cash return um I think that's a good deal

I especially because it's a brick house okay we sh we I showed you the front picture of it

um it is a it is a brick house and uh whether that's a decent area let me

let me check on that real quick um

another thing that people need to realize okay so the this is in

it's an okay area okay it's a it's a it's in an okay area

um it's not too red but it's not the best either all right

um it's the 48228 uh and the downfall you're gonna have is it it looked like

there was um some

uh vacant properties right next door to uh to each side of it so

you know that that's also a downfall all right uh with that being said

um like I said I think I think for 40 it's a great deal for 45 it's an okay

deal that's my opinion so for the right buyer honestly I think

if a out-of-state buyer can come in here and actually do this

um 100 I believe that they can come in here and do this if they have a team okay

uh with that being said we are going to I'm going to bring that down and

so that that's a few of the deal that that's one of the deals that we went through okay

um one of the scenarios that I see other wholesalers bringing me deals

with is they're on Market I have nothing against on Market buyers have nothing

against on Market but still has to be a deal if you come at if you come and say hey I

have a property it's seventy five thousand dollars okay it needs some work

and arv is 155.

okay these are your numbers I look it up and it's on the market for

69 69 000. you think I'm going to pay over what

it's on the market for also it's been on the market for 200 plus days

it's not a deal okay it's just not a deal

so if the biggest buy the biggest buyer's market or the biggest buyers pool out there is saying it's not a deal

then it's probably not a deal that biggest buyer's pool is the MLS I

will honestly wholeheartedly say that all right but at the same point not everybody's

looking on the MLS for deals I agree that you can find decent deals on the

MLS for wholesale deals but whatever you're trying to sell it

for has to be under this the listing price

here's another issue that you have is when you talk with the the seller you

say you submit your offer okay and they accept it I'll use these numbers for example

because there was a a situation that that happened

they're asking 40.99 you offer them 26.

okay they accept it what do they do they bring the price online they say it's

pending but they bring that price from 49 down to 26 on exactly what what they

accepted from you well guess what now your buyer is gonna

Wonder exactly what's going on because the days on the market does not change

the days on Market does not change whatsoever so now you're going to have a very hard

time selling that deal even if you're just trying to sell it for 35.

and these were there were a couple wholesalers that I did advise this and as soon as we saw that it went

um it lowered the price on listing I would I told them to go back to the and

and tell them sorry we cannot do business at this moment because of what you did my investors feel like they're

not getting a DLI blah blah blah this that um and

you know you kind of take it from there you have you have to learn from that

when talking with agents as well you have to let them know hey this is my

plan or this is what we are doing I'm I'm working with Finance Partners I'm

doing this we get this in there this either has to go as pending or but the price can't

change as far as what is being listed at

so you learn from every single deal that

you do and as long as you every deal that you do you just keep compounding on what

you're learning okay so anybody out there that has had any of

these issues please put them in the chat let me know and you know kind of go from there I don't know how long uh today is

going to be but um you know we're probably not gonna be

going for very long it depends on how much interaction we get in here so anybody wants to come in here and do

some um some role-playing by all means let me

know and we can we can definitely do that so

um I am going to put the link in the chat again

and for anybody else that is watching

all right so on here you can come on in here we can role play any type of situation that

you want um kind of go from there we did have some of the somebody that I was going to have on here today

um unfortunately could not make it and so I had to Pivot uh and the last minute

um so with that being said uh somebody did say they wanted to bring up you know

how do you bring up sub 2 or creative financing I kind of already went over that a little bit but basically all it

is is you're asking hey if I could come up to your number but we'd have you but we'd have to do

terms or make payments they ask well what are terms

I they said where we make payments on a monthly basis because when we put out

cash it actually cost us money okay

um so with that being said it's kind of like it's it's either a seller finance or if you have an

existing mortgage we can take over your existing mortgage and do a down payment

you know you kind of tailor it towards them because one of the questions you should

always be asking is is there a mortgage on the property do you have do you currently still owe

money on the property or do you owe it free and clear you should always be asking that no

matter what so you need to always get that information out

um if they say oh yeah well I don't know what that is so that's no okay great I understand that

um but you know keep in mind when we are doing a cash offer it usually tends to

be a lower offer because of that when we can do a creative Finance offer a

creative option I we can usually come higher in price

so that's where we would come on terms and kind of uh make payments to you so

one question I always ask them as well as is so if I gave you the the full ask

what you did in cash what would you do with it are you going to put it towards another property right now are you going to put

it in the bank are you going to put it in the stock market are you going to put it in the mattress uh and just sleep on

it I mean what are you gonna do um and if they say well I'm gonna I'm

gonna purchase another house okay great you know what it sounds like creative option might not be for you

um but you know if they say if they turn around and say well I already have the place but

um you know I'm just gonna stick it in the bank or do something like that okay awesome well you know when you sell on

this sell this property if because it's an investment you're going to end up having to pay taxes

bring up the tax strategy where doing uh a creative option on terms they

only pay taxes on what they get at that moment so if we give you ten thousand dollars for a down payment you're only

paying taxes on that ten thousand dollars and then every monthly payment after that and that's it at that time

so things like that um those are a lot of good options that

you have to bring up uh a lot of this is gonna be while you

work or while you as you go you're going to see opportunities to

insert all this information so you should have some sort of cheat sheet or

some sort of uh script off to the side and I'm not saying you read off of a

script word for word because they're not going to be reading off of a script 100 percent

you follow along with where they're at okay what I mean by that is is yes you stick

to your script but you have to still be able to you still have to know how to Pivot okay

what I mean by that is is okay great you see the cash options not working pivot

to creative option if that ends up not working pivot back to cash and what I mean by that is I say

okay well it sounds like that it's not going to be an option for you well what we can do is we come up with a

few different options all right we'll come up with a an offer for a few different options but I I have a

question is is something like going on on the market something for you because we might not be

the best offer for you and if that's the case I do have a couple front trusted

realtor friends that are really great at what they do they may be able to help you

um you just might end up having to put a little bit of work into the property so

uh you you kind of talk with them a lot let them know because hey this is It's

Gonna it's probably not gonna pass inspection as it is um you if you put you know XYZ whatever

the case may be and you say I'm just going by what you're saying the properties condition is right now

okay oh no I don't want to put any work in there I don't want to put another dime in there okay great well let me see

about my options I'll see what I can do and come up with and uh we can kind of

come up you know come up with a creative option and come up with it all cash offer okay

now do not give them their that option right then or don't give them the offer right

then and there but if you have if you think it's worth going on an appointment book an appointment

if not try to run the numbers on based on what they said the condition is okay

and what you think the budget will be now keep in mind if they say the condition is okay and

it's good and it's only going to need ten thousand dollars worth of work budget double that I'm sorry it's it's

never that all right so you have to be realistic on the

budget no matter what all right um

but with that being said we're on the numbers based on that then and give them the caveat hey I still got

to walk through the property but this is my this is a rough estimate of what I

think we can offer and you've given the creative option and

then you give them the uh the cash offer okay

if you can give them the cash offer and they're happy with it great move on

if you want the creative option say okay sir well this is the terms that I think

that that we can do oh I don't want to pay zero percent interest I don't want you

paying zero percent interest blah blah blah the the markets the way they are blah blah blah you know this that well

you'd sir uh Mr seller tell me exactly what would work for you

okay if you need higher interest rate I I might need a I need the the payment needs to be stay at the same

okay I still need to be able to cash flow I hope you understand that we're we're

in here to make bit we're in here to make money and uh we're here to

you know have a business it's not a charity and you as long as you keep the

expectations on the fact that you're here as a business owner

than most homeowners are on that as long as they are motivated

they will understand the problem comes when you have a seller

that is not motivated and they just want their price and they want it on all cash

and no realtor commissions no nothing so you have to look at that

um unfortunately I that is a lot of sellers nowadays

and that's where we have to start educating them and where what I like to

do sometimes is I'll pull up comps oh sir you know what I saw this one sold for uh all cash

right down the street from you for fifty thousand dollars

oh okay I saw this flip when when really like it was fully done to the nines

everything um right around the block for 110 and

you're thinking the 100 you think I can sell it for 150 after it's all done I I I I I can't see that this one sold

for 110 and it was completely redone

so You by educating them exactly what the Market's doing

okay you know you let them know hey I can't take comps from last year just the the

market the way it is it's changing so fast um that's just how it is right now

so uh I completely understand hey if you don't want to sell that's perfectly fine too

you know I I'd hold on to it for a few more years and see what you can get out of it after that but I definitely what I

recommend instead of holding on to it and doing nothing with it maybe put a little bit of money into it and try to

get it rented out so it can bring you some income then you bring in and you let them know

hey is there any other any place that I could be of if they deny your offer

say is there any anything I can do to help you out right now

you know I understand you didn't take my offer you know that's perfectly fine do you need help with anything

I'm truly just trying to see if I can help you in any way do you need a contractor's number I can forward you do

you need a a realtor's number I can forward you their number just try to be as helpful the more you

you do that the more when they do sell they're going to call

you back and I've had that I've had actually custom I've had sellers reach

back out to me a year later saying okay Randy I'm ready to sell I really only

want to sell to you anyways because you're a very honest transparent and and

you know very you are very helpful you know so

I was extremely happy about that so

um I don't see any questions in the chat right now um so with that being

with that being said I think we're going to be ending this the stream I did want to bring this back up for one more time

if you did want to get this calculator okay um

if you did want to get this calculator uh you can go on my website it's in the description it's randystadwell.com

justmydame.com it's under digital downloads okay you get this is an Excel

document okay and you so you get all four of these tabs all right

and uh this this is only twenty dollars 19.95

all right this is the only way that I have where we can support the the podcast at the moment

um I'm working on more uh we do also if you do need a purchase agreement

and an assignment of contract we do have those for sale on uh on the website as well if you buy the

purchase agreement and the contract and put in the uh

coupon code combo deal you'll get 50 off of those when you buy both of them okay

um on again this one's 19.95. it's I I made it very inexpensive for people I

it's a very good calculator um I I wanted to have something where you can have it and you it's not a

subscription okay there's a lot of subscriptions out there at the moment and so I guess if you want to say that

this podcast is being sponsored by our deal analyzer then I guess it is so

um with that being said I really appreciate everyone and taking their

time out uh we did get a few views on here um anybody who is in the Facebook group

uh come join the Facebook group if you're not uh you know check us out on

the Metro Detroit off-market Real Estate Group uh on Facebook and we will get as

much uh deals going and ever let's all do deals together all right that's what

I'm here for that's what we're trying to do and kind of take it from there all right with that one have a great day it

was a great show and see you guys on the flip side we'll have we'll be here uh

again in two weeks um not next Monday but the Monday after

we're gonna have a guest on we definitely will have a guest as long as they don't keep canceling on me I'm

gonna definitely get uh get somebody on here next time all right so you guys are

I know you're probably sick and tired of just hearing me talk have a good day and talk to you later

[Music]

there was once a day that I would pray for you I'd go and misbehaved just so you noticed

5 Secrets YOU Should Know ABOUT WHOLESALING in Real Estate | RET W/ Randy Stedwell EP# 18 →

Hey Everyone On Episode #18 We will be talking about wholesaling and 5 Secrets Every wholesaler needs to know. We will be doing a Q&A session as we go like we usually do, but I will also break down how I JV (Joint Venture) My deals. we will go over the Our new Deal Analyzer as well. Also How I started my buyers list.

This is for everyone out there who want to know about Metro Detroit Off Market real estate. We will be interviewing people every week and taking questions from everyone in the comments or they can come on video with us. we will post the link in the chat when the LIVE starts for those who want to come on video with us.

If you want to JV with me on any deals in Metro Detroit market Contact me though

E-Mail: RandyBuysHousesMi@gmail.com

Phone: (586) 307-4765

Join our free facebook Group

www.facebook.com/groups/metrodetroitoffmarketrealestate/

www.RandyStedwell.com

www.YouTube.com/@RandyStedwell

www.instagram.com/RandyStedwell

www.twitter.com/RandyStedwell

hey everyone out there YouTube land Facebook I and the real estate Metro Detroit

off-market Real Estate Group welcome we are here

um we are talking about five things that you need to know about wholesaling five

secret tips okay um with that being said okay uh we are

gonna be out here okay five Secret uh every wholesaler needs to know

um so I just trying to get a a minute for some other people to come in just in

case we are answering questions live here on the air if you need uh ask your

questions in the comments uh in the comments off to the side whether you're on YouTube whether you're on Facebook does not matter um ask your questions we'll present them on here I will answer them

um I don't have a guest today it's just me talking all about the five tips and I

actually have a bonus tip for you as well but we have five tips all wholesalers need the secrets

five secrets you need to know about wholesale and real estate so it's a

tongue twister sorry about that um with that being said I think we have given some people enough time so with

I'm going to go to our first the first thing that you need to know is kind of obvious it's build relationship

building a relationship with the seller okay I'm gonna skip going to doing all

the lists and trying to figure out uh what lists you need to get what all that all that you can learn that and anywhere okay but if you don't build a relationship with that seller

I'm going to tell you you're not going to get very far okay

when you build a relationship with the seller it's going to be

no matter if somebody tries to back door you through that deal they're not going

to be able to because you've built that relationship I've actually I'll tell you

a quick story I had a property that I had under contract uh it was in Detroit

and I went out and I marketed the property okay I had there was probably about four or

five you know we marketed out you know things it was

on the borderline whether it was overpriced or not what we we tested the waters

I had a couple buyers put it I actually try to reach out to the seller directly

and try to poach that listing what happened is they try to go with the lower offer okay

straight to the seller and because I had good rapport built a good relationship

with that seller all that seller did was send me screenshots of that other person now

that person is no longer on my buyers list okay you want to really alienate a wholesaler try to do that I'll tell you

you won't get very far in this business all right um so build your relationship with your

seller um and then I'll tell you another story where uh the opposite happened we didn't

build a relationship with the seller and we're trying to sell a a triplex in

Detroit and somebody another wholesaler came in and stole the property they offered them

it was 20 grand more than what we were trying to sell it for okay

needless to say that wholesaler did not live up to his end

it did not go through we spent so much time on title with that property that it

was it was crazy because we put so much time and effort and we should have put a

[Music] um we should have put a notice memorandum on the property but we didn't uh and I

think to this day it still hasn't sold to be honest so um because the way the market changed it

wasn't worth it because the guy didn't do anything with it so I think we tried to set we sold it we're gonna have it

sold for 25 Grand and he's like well I can get 40 Grand from this other guy

and unfortunately it wasn't it didn't work so when something's too good to be

true it probably is and it was a vacant property needed a full gut full rehab

everything so um on to the next thing I I know we're kind

of moving a little fast remember if you have any questions in between any of these put them in the chat I'll have to

answer them if you're watching the replay comment I'll answer the questions I

definitely will um I'll I I always check the replay and things like that so

um the second one is listen okay there are so many wholesalers out there

and I was guilty of it in the beginning too they just want to get their Spiel out they want to get their uh get they

whatever their script is they want to stick to that script and they want to get it out and get it out sometimes the

best thing you can do is just zip it listen ask open-ended questions and

listen okay they the seller will tell you exactly what they need what they

want okay so but you have to oh ask open a

question as soon as if they're just at if they're just answering your question yep nope okay either one you're not

asking open-end questions or two they're trying to get you off the phone they're not very motivated okay so that is one thing give me one second here

so that is one thing that you need to realize is that

listening will get you a long way build relationships with the seller try

to build Common Ground do not lie or anything like that just so you can have

something in common um and that will bring me to my next one or to uh my next ones coming up but

number three do what you say you're going to do

okay so many times there are wholesalers out

there there are people there are about there are sellers or sorry there are buyers out there they don't do what

they're going they don't do what they say they're going to do okay

so many times so that is one big big thing that you need

to do is actually do what you say you're going to do if you say you're going to

give them a call back at 5 00 pm tomorrow give them a call back at 5 pm tomorrow

okay um that goes back to number two

listening okay by listening to them you can tell

exactly where their pain points are you can also tell what their pet peeves are on on people all right

so again do what you say you're going to do

if you're going to meet in an appointment don't be late be 15 minutes early check out the property check out

the neighborhood first okay same thing goes for you damn buyers come on man all

right don't be late check the traffic all right so I know you buyers are out there

saying that now I know I'm going through this kind of fast and I really would like any type of

Engagement out there please let me know what you guys think um this is for the Metro Detroit

off-market Real Estate Group this is for our YouTube channel you know

hit us back with comments let us know uh what you think and and what you think

about each one of these are these not really Secrets you're right they're not

but in my opinion they're the most important all right though the they are

the most important all right I call them Secrets because these need you need to

know these you need to do these okay and not a not a lot of people do

especially virtual wholesalers they don't do these all right

the number four follow up all right

follow up with okay hold on

if you you follow up 90 5 of my deals

I get with follow-up very rare do I get a deal on the first

Contact it's very rare okay when I'm when we're cold calling we

don't get them on the first Contact all right I actually have a process where my VA

calls them when they say yes they get all the information it comes to me and I do the

follow-up that's my process even when I follow up with them

is still a lot of times it takes you know four or five time attempts of me

contacting and following up with them sometimes they don't answer sometimes timing's off sometimes you have to keep

following up put them in your CRM let them know if I had one one day I

they answer the phone which I was very surprised but they answered the phone like hey I was calling about your

property on blah blah blah Street uh do you have a couple minutes to talk uh so

on and so forth you talked with my my assistant about this uh last week and or the other day or yesterday

uh they said well actually I'm on the way to the hospital my my father's

bought the people they're about to pull the plug on him and he he's about to pass away

I'm like oh my God I'm so sorry uh take care of family first I'll give you a

call I you know how does Friday sound okay great have a great day

okay I'm sorry to hear about your father now I put in my CRM he was on the way to

the hospital he was you know his father was passing away what's the first thing out of my mouth when I call him back

hey I'm very sorry to hear about your father uh did you make it in time to say

your goodbyes something like as simple as that that builds relationships that goes back

to number one that builds relationships that builds Rapport okay

100 you need to follow all of these processes okay

following up with the sellers will you will build so much Rapport and

the more somebody talks to you the more comfortable they begin now if

you just talk with them out of the blue and I I've actually had this tested

women are more likely to build rapport faster with a seller

uh for some reason uh sellers they they trust a woman's voice they it's more

feminine uh it's very hard it's a lot harder for a man okay

um not being sexist not doing anything like that it hell it's harder for me you

have to put them at ease that you're there to help okay hey this is what we normally do if

they're back on taxes if you're in foreclosure this is kind of our our area

that we follow up I'm not saying that that's what you are but does does any of this uh do are you do you have any of

these issues or anything like that okay but this is where we specialize

okay if not okay it doesn't fully disqualify you but let me get a little bit more information about the property

and we can see what we can do something is simple like that all right

the more you follow up the more you listen the more you you you you work

with these the better things will be that I promise you okay

so let's go over the first four again

build relationships number one okay building rapport

listening when you're listening they will tell you and you ask

open-ended questions they will tell you where their pain point is what's going

on Hell they'll tell you what they just ate for dinner last night all right

they'll tell you everything they'll open up to you but you have to listen

not only when you're listening you just don't sit back and just do nothing okay you do a little little nuances like

oh okay I see it should it that tells them that you're truly listening and you're following

along okay yes you need to listen keep your mouth

shut but those little nuances of mm-hmm wow oh wow okay

those little things will tell the seller that you're actually listening to them

and that brings your level of relationship building up a notch okay

so number three do what you say you're going to do if

you're if you do them if you have an appointment set up okay set up be there 15 minutes early

check out the area or if you're not be there at least on time okay

um go through it don't Pro don't over promise and under deliver okay you always under promise and over

deliver as much as possible okay I know it's hard to do in this market

it's very hard to do that and and still get an appointment but at the same point you want to you

want to build their expectations a little bit beforehand be you know then you go out there

on the appointment number four is follow up again

following up is the key all right if you don't do this

you will not you may get one deal every six months

okay if you keep following up with people the average contact

um per deal in the Metro Detroit area and I don't have a lot of Statistics I'm

only going by as far as my business goes the average contact is about 15 to 20

contacts before it actually goes into a deal

uh goes into under contract that is so number five

don't be cocky don't be a nodal all right

I'm going to tell you this right now don't be a know-it-all all right

sellers do not like that especially sellers who used to be agents who are

investors who they think they know it all so you got to be humbling

oh okay yeah tell me why you think that that price is a good price oh because

this property over here just sold this probably sold over here oh yeah okay I'm looking at that that sold about two

years ago unfortunately it's not good in this market okay

so you got to educate them a little bit as well but you've got to do it in the proper way don't be cocky

all right now I got a couple bonus tips

there's a couple bonus tips I have for you guys okay number one or number six

be honest okay be honest

let the seller know what you're doing if you plan on buying it buy it

let them know if you don't if you plan on wholesale and say hey I have some Finance Partners I work with so you can

say you're wholesaling without saying you're wholesaling there are different ways different ways to do things I let

people know that hey we have different strategies for every property we may not know what Pro what strategy we're going

to go with right off the bat but no matter what we do you're gonna get what I promised you and uh you're

going to be dealing with me the whole time no matter what and I explain I give them three options okay I explain them I

go one number one we we do fix and flips we we everybody knows what that is

number two we buy properties to fix them up and then rent them out to a nice family okay we you know maybe an

underprivileged family depending on who you're talking to things like that we try to help out nice families things

like that by putting them in a nice home and then number three sometimes if it doesn't work for us I do work and

partner up with other investors that it might work for okay

that's how I actually word it that I say that I'm going to be wholesaling without

that I also followed up with after I say that last one was

but if it don't worry no matter what we do you're going to get exactly what we promised and you're going to be dealing

with me the whole time so that they understand and nine times out of ten they say oh

yeah sure no problem as long as I as long as we get what I promise no problem okay and then I let them know we go

through a title company make sure everyone's paid out so on and so forth okay

I have another bonus tip for you here go for the no

now you get them on the phone you're listening You're Building rapport

and why the hell is this guy on YouTube telling me to go for the no what the hell

right go for the no do you know why because you don't want

to waste your time either hey Mr Sally oh it looks like you know

what the price you want it looks closer to retail is that something that you're

you're you're looking to do I mean I I I truly do understand you know

um if you do want to go on the market that's not a problem I can connect you up with a uh a great realtor in this

area okay and we is that something you're interested in unfortunately with my

business model I have to be able to make money and at that price I'm not going to be able to make money

they understand that they're it's a business okay

things like that go for the no figure out what their true pain is if they don't have true pain

sure no problem what did you waste you wasted a phone call but guess what one thing I always

ask is do you have any other properties you might be interested in selling that might be in a little bit worse shape

we specialize in full rehabs um and and we want to add that value

into the property check it out so

this these seven tips that I just gave you all right

we'll go over again number one build relationship number two

I I cut myself here number two listen

all right number three do what you say you're gonna do

100 do what you say you're going to do all right you're a man of your word or a

woman either way number four follow up

by following up you are building a relationship with that person

every time you call or leave a message or send a text message

oh this person might be interested oh I know we've been playing phone tag every now every so often

will you finally get a hold of make a joke out of it building the relationship

number five don't be cocky don't be a know-it-all yes you are the

expert in the field you are the expert you are the investor okay but they may be an investors well

they may be an agent you never know okay so

what you want to do is you want to be confident in what you're saying but you don't want to be cocky

you don't want to be a know-it-all they they will hang up the phone faster they will get you off the phone as fast as

possible all right if there's a deal to be made try to come at at the angle of

creative Finance hey I know you want retail you know what

sometimes we can come up to that number you know if we can come up if if you can

come to our terms okay so is that something you might be

interested in hmm

well what is terms and then you go in the whole Spiel of creative Finance what terms are or uh a laying contract seller

finance where you become the bank so on and so forth well I have to run the numbers but usually the banks tell me

what the rates the down payment is so on so forth okay now you now what you do is

obviously you do everything you can to get that deal happening during that call but if

God forbid something happens where you have to hang up that phone before you can do that you give them homework

hey okay listen I will I'll follow up with you on Friday at five o'clock

all right but by then let's try to see what interest rate you might be interested in what what monthly payment

what balloon payment you might be interested in or or your terms and what down payments so on and so forth

all right give them homework now you follow up with them on Friday if they didn't do the homework that you

know what that's that's perfect fine well okay let's talk it out a little bit more

but at least you're giving them something to do now all right number six bonus number six be honest

all right hey Mr seller I you know what I don't want to waste your time I don't want to

waste my time I'm going to be in the ballpark of this range over here you know um sometimes I will give him a ballpark

range because I don't want to waste time I don't want to go out there and visit for a retail price

it's not going to happen it goes back to number two by listening see what their pain point is if they're foreclosure and

and they're about to leave the house and there's nothing you can do or there is

like hey we there's a deal to be made but they're still stubborn or so on and so forth hey you can do what you can

okay and you know I might take up a case by case but you never know you still be honest

let them know hey I don't know if uh I you know what I'll come out look at the property we'll see how it looks I'm not

sure if I'm gonna be I I'm not gonna be your highest offer that's just how it goes but I'm Gonna Be Your quickest I'm Gonna

Be Your fastest I'm gonna be go over the whole uh reasons why all right that they

should be going with you and then number seven go for the no

go for the no you will save so much time and get now

you can get to the next one faster and easier and you're not wasting so much time

okay so I just gave you seven tips

seven tips two bonuses I know I said five Secrets

but I gave you seven all right need to take those down write those down

follow them Implement them into your current system

okay and if you don't have a system and you're just winging this

flowcharted all right create a system write it on paper how

does a lead come in what do you do when they say yes what do you do when they say no

and so on and so forth okay go through your whole process

through your business go for what you're doing now and then go to write it down

to what you want to change it to all right now I want to take a Time

I know I ran through those pretty quick and I'm sorry but with that being said you know I

guess we're not getting a lot of people on today but we'll watch the replay so

many people ask your questions later on I'm happy to come on here uh I'm happy

to comment on here later on um you know afterwards and I'll answer any

questions you've got one thing that I wanted to bring up is we do have a deal analyzer on our

website website is randystudwell.com okay and it's under digital downloads we put

all the podcasts up there uh on our website as well as we're going to have

digital downloads we have currently on my purchase agreement contract as well as my

assignment agreement contract those two things are up there for sale um I may later on offer them uh as a

discount or later on but I haven't come up with that yet uh the but we have this deal analyzer

that I created and I think this is a smoking deal all right right now we're

selling it for 19.95 is an Excel spreadsheet where you keep it forever once you download it once you

keep it forever okay so I want to go through it real quick with you

all right you have different tabs here okay so this is the flip if you're

looking to flip okay if you're looking to flip here you can

put your arv here the the length of the project whether it's six months 12 months your address here okay if I say I

put an arv of 180 000 okay

now we're doing a purchase price of say seventy thousand these are made up numbers by the way all right I I don't

have a deal right now if somebody's in the chat wants to comment a deal that they have and want me to run it by all

means we'll go from there rehab budget all right say we have a rehab budget of of 80 000.

all right so on 80 000 the closing or the closing

costs on this let's call it uh 2200.

all right if we're paying all cash it's 2200 all right holding costs these are

your um your interest rates your anything like that

so your holding costs on this this also could be your taxes okay so we'll go

with uh say another fifteen hundred for holding costs all right

the reason why I didn't I only put 1500 because I believe this is just for the taxes okay

now I can put in hard money all right

so what's the loan amount for the hard money

all right let's see here

hard money loan amount so admin fees let's call it

a thousand dollars for admin fees

all right so hard money loan to value and slash arv so let's call it

uh 140 000.

uh let's see no that's 150 000.

now that this is percentage sorry about that 70 percent

so we'll do three points and we'll do

let's do 12 interest rate all right now right now you can see that this did

the calculation as it sits this is not a deal we put 10 profit

and profit minimum is twenty thousand right now our our projected profit would be thirteen thousand nine hundred and

sixty dollars that says No Deal all right so with that

you can also put uh Gap lending in here get points you

can also do if you want to do an equity split on the Gap funding as well you can

bring that in here now your arv this is this is one thing that that it

really helps with as well is my resale number if I go 10 grand below or or 20

grand below it tells me right here exactly the numbers it's supposed to be if I go 10 or 20 grand above what I'm

thinking this is the profit and uh what I'm going to be selling it for all right so this

is a great tool for anybody who wants to use it visit my website it is

randystedwell.com under digital downloads and is it called a deal analyzer okay

so with this we also have a seller finance tool all right

so the purchase price here okay so let's do a hundred thousand

dollar property okay

down payment we'll do ten Grand all right estimated rehab

let's do 15. all right closing costs

to 1500 all right

what's our monthly payment our monthly payment is going to be uh

let's look at so on a hundred thousand let's do 400 400 a month

okay now we can do a three percent interest rate was we can do six percent this

number is arbitrary I'm going to tell you that uh it's just so you can have everything on the screen where you're

gonna get all your information from are these two links all right these two links is where you're going to

get the information so if you want to get like a balloon payment for the next five years

you can you can do that you click on this link and that's exactly where you'll get a

balloon payment you put in the amount purchase so as

well as the amount for the loan so you would do actually 90 000 because you'd

put nine ten thousand dollars down okay and it would do the advertisation it

would give you the balloon payment here okay and uh then what we're going to do is

you're gonna do what is the market rent all right so

let's do a normal I guess a three bedroom house we'll go fourteen hundred dollars a month okay

and we're gonna do the the calculated taxes we'll do let's say 3 500 because

it's the taxes just got uncapped all right insurance will do about twelve hundred

dollars for the year annual Capital expenditures okay this is

I have this set to five percent but you can change it to whatever it bring it higher if if all you're doing is just a

quick rehab okay and you know that the roof's gonna

go later on okay these numbers here are annually these numbers here are

monthly it takes all that information gives you your estimated uh monthly cash

flow and this is your estimated yearly cash flow

okay and then it has your total investment here with your return on

investment this right here would not be a deal okay

this right here would not be a deal because it's only a one point two five two four percent interest

or uh Roi so

this is where you can fudge with the numbers a little bit and what I mean by fudge with the numbers I don't this is

where you could try to figure out what offer best um fits what you need okay

now for a Buy and Hold we can do the same thing we have if this is the same calculator for Buy and Hold but I have

it they are um seller finance versus Buy and Hold You can put the addresses in here you

can create them new tabs you can create this being a new document so on and so forth okay

as far as I have a rehab calculator okay and

here we go so you can do all your rehab calculations okay through each thing

this it will total the total up here at the bottom and you can even add in new ones that's

up to you that will bring your total estimate rehab

over to the side here total estimate now if you wanted to do a

quick estimated rehab what you want to do is put the square footage of the

property say it's a 1236 square feet okay

then figure out what works in your neighborhood in your Market okay if I'm just doing a

light rehab carpet Paint clean up so on and so forth okay I'm probably going to

be about 25 a square foot medium rehab okay I'm gonna need to make

some do some kitchen cabinets so I'm going to need to do so some things but it's not really intensive thirty five

dollars a square foot now large rehab 45 these are numbers you

can change talk with your contractor okay this is where you get good at listening talk with your contractor and

you can change these accordingly on here this is a drop down menu

okay so you do

medium and I don't know why it's not showing the drop down menu but

there's also large and you can see the number changes here that goes based on these numbers

okay so you do the drop down menu and that will get you

light rehab so on and so forth that will get you at least somewhat there in a

somewhat of an estimate before you go into a full uh a full rehab okay

so um that will get you probably this quick

rehab will get you the offer then when you do your due diligence that's when you're going to figure out all this okay

I do recommend everyone doing their own due diligence no matter what okay but uh

this is a in my opinion like I wanted a great calculator for all of these options for a seller finance for a Buy

and Hold I also wanted it for uh also a Fix and Flip okay

so for the areas you have to do your own due diligence on theirs but the thing I like about the

Fix and Flip is it adds Gap funding if you wanted to use other people's money in order to do the Gap funding this

allows you and this will calculate it in there and tell you whether it would be a good deal or not okay

100 so um I'm going to bring this down and I

will show you I'll bring up my website

all right a second here

so this is what you see when you go to my website

okay this is what you see when you go to my

website if you click here on digital downloads all right

if you click here in digital download you'll see this is the deal analyzer all right hey

how's it going Kevin what's up Kevin how you doing this is

Kevin from Facebook so this is the deal analyzer all right

you click on it and you go to add to cart all right when you finish it it'll email you a link to download it

all right um after you purchase it again I think this is a great deal

because the thing is is that this is a an Excel spreadsheet all right as an

Excel spreadsheet that you get to keep and you get to make more of as far as

you want it for this address okay save it as a new file all right

so um with that being said uh we're almost at 45 minutes here uh you know

I'm checking you know what we're doing here on our website is every we we put the podcast

on here okay um on our website so that if you do miss

them you can come to the website or you can go to the YouTube channel it's completely up to you all right

uh but we're gonna keep adding say as soon as we get another digital product

we're going to keep adding it here this is where we're gonna be if we get information from you guys that hey you

want more contracts you want a bundle package you want this if I'm going to

offer a freebie it's going to be here so I'm going to have you go to my website and it's going to be here so

keep a lookout for the website keep a lookout inside the Facebook group Metro

Detroit off-market Real Estate Group all right but also follow us on YouTube that

really helps follow us on YouTube like the videos on YouTube um I'm probably what I do all the time

is I take these videos that I'm doing these podcasts and we we break them up into uh recap videos 15 minute segments

so if you don't want to watch the long video watch us on the on the recap all right

so if anybody has any questions you can always message me privately okay

um you can also uh call me my number is right here at the bottom if you want a

JV on any deals there's a there's a link on the website to JV with me all right

so let me let me go back to the website if you want a joint venture

click here okay and it opens up it opens up this uh this this goes right

to my CRM I'll tell you that right now all right this goes right to my CRM

so um also if you want us to if you want to sell us your property you can fill out a

form here or you can do it in the JV form up to you but the digital downloads

and the podcast this is the the these are what I'm

working on I've been working on for a while and I'm I'm very proud of this website now so I appreciate everyone's

input I appreciate everyone that that is watching currently and as watching the

replay um we're trying to help out as many people out there as possible all right

at least that's what I'm trying to do I'm trying to help out as many people as I can if I can help you uh if I can help

anyone out there to uh be a wholesaler or do anything like that

you know to me that's really great I'd love to help people out by jvan as well

because that also helps me all right so with that being said I'm happy uh

you know we're going to cut it a little short than we normally do but I again if

you want a JV with me um here's my number at the bottom okay

and my email will be scrolling

here we go my email will be scrolling here Randy buys houses Mi gmail.com

okay so hit me up let me know what you got I'll give you

advice I'll do whatever I can and kind of go from there all right so uh with that being said

uh can it let's see oh Terry Penny how you doing

hey Randy can I share a story sure here Terry let's do this if you want to

come on let me invite you here we are about to

say goodbye but I'm happy you uh you didn't follow the link and it will bring you on

to stream yard they'll bring you in the back end and then I can bring you on here and you can tell us your story

all right so while we wait for Terry all right let's see if uh if that

happens while we wait for her anybody else any other questions put them in the chat all right and we'll go from there

we'll we'll wait for minutes

oh yeah to confirm what you're saying let me bring that here

to confirm your statement about doing what you say you've been doing and being on time

uh I can only type right now sorry okay so she's not gonna come on but she can

type all right we'll we'll try to follow along this is Terry Penny by the way

yesterday I I had a three o'clock appointment with a seller of a

commercial building and

let's see what she says now I heard about this this story let's see

let's see if it's what I'm talking about

yeah oh Kevin said hi Terry here we go all right Terry we're waiting for that

uh the rest of that story oh my God it's juicy now let's see what it says by doing what

you're saying oh my God by doing what you say you're gonna do come on I am I'm curious on what what got screwed up this

time

at 2 57 so he had an appointment at three o'clock and at 2 57 he called me

and said uh did I forget about uh did you forget about me I said sir it's not

three o'clock yet but I'm walking in right now I truly believe that if I was

late for my appointment I I I wouldn't have locked up a 2.3 million

dollar deal holy crap first off congratulations

congratulations Terry on locking up a 2.3 million dollar deal

right there if I had a bell I'd be ringing it right now yeah 100 yeah

by doing exactly what she said she was going to do by being there on time

she was there on time okay actually she was there at 2 57. all right

that is that right there it was awesome she was

a little early the seller called her and said hey did you forget about me

some sellers are very particular if you're not 10 minutes 10 or 15 minutes early I

you are late period so you gotta understand your seller on

that 100 thank you Terry for sharing that information and that just goes to

show everyone out there that this information you have to do what you say you're going

to do okay yesterday was Sunday by the way and and

so Sunday she's out there at three o'clock on a Sunday this is not during business business

hours all right but you but how many times have us real

estate people really gotten a good weekend off come on you know so congratulations Terry yes

Kevin congratulations to Terry 100 you know I I it is great it is crazy all

right so now when I see you tomorrow Terry you

you better tell me about this deal I wanna I wanna hear all about it all right maybe I gotta buyer for you who

knows we'll see all right so with that being said we're gonna have

a good one uh I'm gonna I'm gonna uh say goodbye we're gonna do the outro

have a good weekend or have a good week all right and if by any chance you are

around the Southfield area tomorrow all right tomorrow at six I think it's 6 30 is

Renegades Renegades meet up at Shields Pizzeria in Southfield all right check

that out and be there I know I will I know Terry will check us all out and uh

they also do the live stream as well so but for the most I love being there in person have a great day have a great

week and uh let's all do deals together.

RET W/ Randy Stedwell EP# 17 | WHY WHOLESALERS FAIL in Real Estate →

Hey Everyone On Episode #17 We will be talking about wholesaling and my experiences so far. We will be doing a Q&A session as we go like we usually do, but I will also break down how I JV (Joint Venture) My deals. we will go over the contracts needed as well. Also How I started my buyers list.

This is for everyone out there who want to know about Metro Detroit Off Market real estate. We will be interviewing people every week and taking questions from everyone in the comments or they can come on video with us. we will post the link in the chat when the LIVE starts for those who want to come on video with us.

If you want to JV with me on any deals in Metro Detroit market Contact me though

E-Mail: RandyBuysHousesMi@gmail.com

Phone: (586) 307-4765

Join our free Facebook Group

www.facebook.com/groups/metrodetroitoffmarketrealestate/

www.RandyStedwell.com

www.YouTube.com/@randystedwell

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www.twitter.com/RandyStedwell

Hey everybody out there on YouTube land guess who is back for another episode

episode 17 right here either on YouTube and on our website on our Facebook page

Metro Detroit off-market Real Estate Group listen you know I've been looking

forward to this one for a little bit because I didn't really have somebody coming on with me so I'm like you know

what I'm gonna create my own I'm gonna I'm gonna create my own and I'm gonna try to teach

wholesaling to you guys out there see what we can do but I have an extra bonus for you

a huge bonus my man Khalif Williams is

gonna join me on here not only am I going to tell you my process and what I do

but then he's gonna follow up with what he does and how he works so that way now

you get two different perspectives so you know I'm here trying to give as much value as possible to all you so if

you haven't already subscribe to the channel the YouTube channel if you can go over the YouTube If you're not

watching from there watch from YouTube and I will go from there so without

further Ado Khalif how you doing my man I'm awesome I switched my audio settings

am I coming through clear yeah you're coming here Crystal Clear perfect

glad to be here awesome so now we're in metro Detroit off-market Real Estate Group and

he obviously from his background you can kind of see he is actually the admin of

Metro Detroit MI off Market deals there you go oh oh oh oh oh

all right so if you haven't subscribed to his group please go over and hit up

his group it is very valuable so with you know with all that like how

you doing Khalif by the way I'm doing awesome man I I'm 

reevaluating Reinventing I think we're all kind of experiencing the same things in the

marketplace oh yeah so just get in even more creative

I mean the the thing is and always has been is building relationships man and that's how I've been getting things done

the second quarter massively is is building relationships nurturing them and putting

stuff together most definitely so with that like what we're gonna do is I all right all right

so I got a PowerPoint presentation that I'm gonna present and it just go it's

bullet points it kind of went too much into detail but I put this together last minute before I was gonna I was just

gonna kind of go off the cuff here and there and I'm like well you know what maybe I'll do a little bit of structure to it

you know they're that way we can kind of keep things moving now if you have

questions please do put them in the chat all right put them in the chat and off

to the side we'll be able to answer them as much as possible is that your little one right there

ah you're muted say hi to everybody what's up no okay now

all right so got a special appearance from The Princess right there so

all right oh yeah so yeah see she even agrees the manager

you agree oh so

bye bye bye bye bye bye

so what I'm gonna do here is I'm gonna go off for everybody here we're gonna

start off with you know first off how do we how do we wholesale real estate this

is a big question everybody's going into it everybody's getting into wholesaling real estate

you know so with with the times right now especially with so many people

sitting here saying you can get in a horse you can do this with zero money down and zero this and

zero that I'm not here sitting here claiming that but at the same point you know you

can't it's gonna take work this is not a get rich quick scheme none of that you

know I'll buy

she is cute she is cute

so so how is zero money how is zero money

down in getting a house yeah I didn't say that I never said

that I'm not I'm not claiming of that saying other people think that and I

don't think that that is you know what I've heard is people saying zero money down for wholesaling

and for put zero money in for wholesaling either way you still gotta Market you you still have time and

you're still gonna have to Market you're still gonna have to put a little bit of money into it

you know things like that but it's a lot lower barrier of Entry than actually

buying the house or getting a loan and putting 20 down or putting three percent down or whatever the case may be so

with that let's see sorry alright so what do we expect to learn from

here I I'm we're gonna try to sit here and go through this

as fast as possible that way if we have time for any questions but basically how to find

deals and we'll go into the different ways inbound marketing versus outbound you know inexpensive ways to Market

as well or yeah what what to do

with a lead once you get it okay how to talk to the seller all right how to

get the price out of them and you know finding out the reasons why all

right finding out their why and setting up appointments or you know

or a time to call them back and the reason I put that there is because there's a lot of people that do virtual

wholesaling so also how to figure out your offer you

know running comps a lot of this I'm not gonna there's a I don't have enough time to go over everything I'm gonna try to

do the cliff notes of everything and then you know at the end if you do want to do a

one-on-one session with me by all means you know usually I do charge for it

but if we're if we record it I'm offering it for free for a limited time

okay depending on my schedule I'll talk about that at the end I also you

know how do you know how do you know what buyers were going to pay I also 

what's important for the market every Market's a little bit different and you

know I.E brick versus frame houses in Detroit you know that's a good example

running the numbers for multiple situations there's fix and flips buy and holds and then just buying it

creatively as well you know finding out what the buyers want as far as the return on investment

and here's a this is a golden nugget right here is what are via VIP buyers and how

to get them okay huge 

you know also we're going to learn what to do when you have the seller and the buyer okay how do you find a good

title company how do you talk to a title company you know the process on  what you

should tell the seller and the buyer okay and here's the most important getting

paid Hallelujah right there getting paid who wants to get paid everyone wants to get

paid all right so how do you get paid creating the relationships and then

afterwards what's next I think this this ending is honestly the

most important for creating the business period what do you think Khalif

100 percent oh yeah

see she agrees too right there 100 percent awesome so we're gonna start off with

how to find the deals oh my God so cute so how to find the deals now again ask

questions in the comments I'd love to hear feedback from everybody okay love

to hear feedback just like just like police daughter there is waving towards it right that come come wave towards me

all right ask your questions all right so different ways to Market

everyone has different and each one of these costs differently all right some

of them are more expensive than others kind of go from there cold calling text

blasting PPC which stands for pay-per-click driving for dollars

creative creating a website for SEO purposes networking on market and agent

Outreach all right so with that agent Outreach I mean right

now I'll tell you what I do is I cold call and I Network okay I cold call Network

and we're also in the process right now of creating the website but

right now it's mainly cold calling we haven't gotten into text blasting

I've tried it before not to say I'm not opposed to trying it again but right now we're just cold calling

so we're doing outbound marketing I eventually want to get to where there's more lucrative deals

which are inbound marketing and Will some of these in here we'll go over that as well but I you know as far as cold

calling goes you know it's each one of these has its own little science to get to okay so don't

think that oh I'm just I'm gonna do all of them concentrate when you're starting off concentrate on one maybe two okay or

you like a couple of these you could use in combination like driving for dollars cold calling and texting you can use

those together okay with that being said

try to concentrate on one Niche before you move on to the next

so what do you think about that Kelly I would agree with that

I put in the chat which way is the best Randy and oh yeah I'd say the one that you can

be the most consistent with that's going to be your best friend most definitely

so being more consistent is is the key

because consistency honestly that really gets you going you know what

bandit signs God you know what that is one thing I

actually have not done bandit signs but I gotta add this in here

thank you see there there are different things in here Terry Penny actually did that direct mailing I

gotta put that in there all right so those are two things those

are two things that I don't really do at the moment that's why I didn't think of this remember I created this

whole document about an hour ago okay so I apologize for if there are anything

missing and we will add them as we go by the way all right we'll add them as we

go so with that being said yes there are direct mail and abandoned

science those are two that are missing on this list but they are similar 

they are those are still the bandit signs are Inc incoming and the the

direct mail is outgoing okay so let's

hear all right so in inbound marketing versus outbound Market we already talked

about the two that are missing which are the outbound are direct mail the inbound is bandit

signs okay what makes an inbound marketing versus outbound outbound means

I have to actively search for the lead I have for instance I have a a a a list

that I'm cold calling I have to actually call them in order to get the lead inbound means they're trying to call me

for an offer okay you always want to get towards the inbound because you're going

to get the more lucrative deals in but coming inbound alright 

unfortunately the main reason is is they have mode they have more of a motivation

because they're going to they have actively seeked you out in

order to get an offer from you okay for instance pay per click they they had

to physically click on a button and fill out a whole form in order to get an offer so you know they're more

motivated than a regular cold call I you know going on your website SEO they

had to find your website they had to find all that net inbound is networking

the reason why I put networking as inbound is because

it cultivates all the network all the all the people you met

and now they're coming to you when you when they have a deal that they want you to

either one sell or to buy okay so that's why I called it inbound it is

a little bit of outbound as well okay Khalif what do you think networking

is inbound or outbound it definitely goes both ways

okay I think it's you know outbound in the sense that you have to get yourself

into situations opportunities to network with people

yeah but on the flip side you know you gotta make yourself as available as

you know your schedule allows for people that are quote unquote inbound letter reaching out via text or email DM

however to make sure you're again initiating

yes and responding to those those those inquiries most definitely and you know I'll on

Market I would call it outbound because you're outbounding to on Market 

they're not searching you yes they have a little bit of motivation because they're out there but you have to

actively go out there and the problem with on mark is now you're fighting against actual homeowners or other

investors that are out there so you know on Market is a harder

strategy just to let you know they're people out there that like to

say that on Market is very easy and oh yeah if the numbers work they work in

some markets I'm like for instance my market here in metro Detroit even if it's on market for

a certain price and you're trying to sell it above that price you're not you're more likely not going to sell

that deal unless it's the work way too much okay way

too much so which I don't think I've even seen a deal like that so Asian

Outreach is kind of the same thing but the difference is with agent Outreach is you're the reason for agent Outreach is

you're going to go after the properties before they come on the

market okay they're get on their off Market list get those properties before they even hit okay so that that's kind of where I would reach that

inexpensive ways to Market would be Facebook Marketplace Craigslist door

knocking now I haven't done door knocking but I've heard of people doing it okay

driving for dollars okay and networking everybody thinks that driving

for dollars you need an app you need you need all this stuff the the extra

technology in order to do it you got pen you got paper write down the address

okay drive down write down that address and true people search is a free way to

skip trace it may not be the best of data but if you're looking for free ways that's one way

or you can pay the 15 12 to 15 cents per lead and actually get it skip traced

so and then also networking networking

is free okay I go to my local real estate meetups in the area and it's free to go

to them I may have to get a drink at the bar or whatever you know but that's really about it

it's free to enter into a real estate meetup on most of them anyways

go in there Network most importantly listen to what buyers are saying listen

to what they're what they're talking about okay how do you what do you do with the

lead when you get it how do you talk to a seller all right talking with a seller it's kind of its

an art all right that's why some buyers don't do it and they deal with they want to deal with

wholesalers truthfully because in in truth some people are

I hate to say it and hopefully YouTube doesn't skip that but you

know there what do you think Khalif you think some sellers are

you run into some that are are difficult but I want to

challenge you when you're following to a perspective that somebody gave me that kind of helped me oh yeah let's do it

you know especially cold calling right yep you're calling this person out

of the blue asking them from their perspective some personal information

and they have no clue who you are so there I was coached to put myself on

their side of things to make light of that and kind of bring down the the the the the chance of

bringing the out of them by kind of refusing that at first right is hey I know you have absolutely no idea who I

am and apologize for that out of the blue and let them know what you're trying

to do and what you're trying to accomplish you know and and tell them what works

for me is like hey I noticed you owe you know one two three Sesame Street what plans did you have for the place

so that just kind of disarms them and that's just a a free tip just to

let the air out of the room yep because you might run into somebody that may be interested in

selling but they may want top dollar and kinda trying to Railroad you off the phone by

asking an astronomical amount right but definitely you know hey what was

your plans for the place you know that opens up for there to be a two-way dialogue versus you kind of cold

calling and scripting them yep so and that's the thing like and

actually what I what I kind of meant by their I'm not talking about the sellers or I'm talking about

these buyers the reason why they don't market like we do and the reason why

they don't do what we do is because our buyers are sometimes

because all they want to do is do the work they want to get the lead and do the

work and I'm not saying there's nothing wrong with that they don't want to concentrate on marketing

you know they they just want to be blunt run the numbers if it works it works if it

doesn't it doesn't okay we're here to play that middle middleman

okay the middle people that way we try to figure out the problems we

come up with the solutions and then now all the buyers are doing is seeing our Solutions that's it they

don't see all the work that we put into it and if anybody out there sits there

and says that wholesalers don't work I challenge them on that 100

I really challenge them so I want to see in the chat anybody out there that is

watching right now tell me what way you Market or what way you want to Market

whether it be cold calling Direct Mail abandoned sides whether it be networking

anything like that put in the chat what way you prefer to Market I want to

hear that I want to hear how many people out there I I want to I want feedback everybody I want feedback so keep

putting in go ahead and put in the chat and we'll go from there um

this is kind of a very important thing for wholesalers is how to talk to

sellers talking with sellers is not about the numbers it's not about you

know um you know hey do you want to sell okay great I'll give you this

you know you have to build rapport you have to find out what their pain is okay

find out the reason they're they said yes that yes I'm interested in selling okay

all right and so we got we got one person Amber

Tiffany from Facebook said agent Outreach text blasting and networking

100 percent so finding out their pain and figuring out

what they're and I think this is the most important quality is do not lie

sellers will pick up on if you're lying okay be authentic with them 100 if

you're authentic that comes through they will trust you be honest

and be honest with them whether you can help them or not okay try to figure

out where and I'm gonna steal this from Pace Morby he has a huge Story look up

his story on on on this but it's called find the bunnies

okay I'm not gonna tell his story look up on on YouTube Pace Morby find the

bunnies his story on that but it's it's a hilarious story

basically find what their pain is try to see how you can help them okay and I

even talk to Sellers and I tell them hey even if you don't go with my offer

please let me know if there's any other way I can help you um and that goes a long way as well I'm

not sitting here saying use that as a tactic and expect a huge return from people on that what I'm saying is

just be genuine with people and offer to help that's all okay

be creative and see if they would be interested in any type of Creative Solutions as well okay

be with everything with a huge tick right now there's a huge thing with

creative financing and and doing land contracts whatever they may be

see if there's a creative way to make the deal happen okay 

so I the next one will be you know get the

price out of it how can you get the price out of them you you talk with them about the

benefits of going with your offer versus an on Market hey Mr seller I'm out here or or the

benefits of going for us is hey you know we pay all the closing costs the

only the number that I give you there's only three things that come out of that number okay

one is any back taxes or up to the closing date of taxes coming out of that

number two any blight tickets from the city those are tickets and people don't

usually know what flight tickets are but so I explain it and I say those are tickets like you know too long of a

grass or anything like that from the city and then any water bill

okay anything anything those three things those only three things that's going to be taken out of yours we'll pay

the any any title fees close closing fees or anything like that

benefit benefit benefit okay those are benefits for our you now if they're

contemplating going on Market just say hey that's not a problem you might even be able to get more on Market it's going

to take longer okay it might take 45 to 60 days on Market

also and I you're gonna have to pay a portion of

closing costs okay on average it takes it's about anywhere from nine to eleven

percent okay in total with commissions and closing costs to sell your house

okay every area is different everything's different so you know I give them a little bit of a range and

that's the truth I'm not spewing any lies this is all true okay now

after that I come to them you also will have people going through your house

constantly you know things like that you know going through me you don't necessarily have to do that we just need

to get a contractor in there a couple times just to get our numbers going good you know things like that and we take it

as is you don't have to do anything to the property benefit benefit okay

so listen to what they're talking about

listen to what their pain is okay and then reaffirm that okay well

yeah you know what you know I I I really need to sell I want to sell the house because I want to move down to Florida

closer to family okay great we can get this done for you and we can get you know get you down

closer to your family you're repeating what they said so that they understand

what your that you're actually listening to them

now that is a huge thing because a lot of people just want to give them the

offer and go over you have to in doing this you're building rapport with them

okay now before you even give them the offer you as you're looking things up oh yeah

I saw you know down the street this one sold for x amount of dollars this one

was completely redone blah blah blah setting their expectations up okay

setting their expectations up for possibly the lower offer by

by viewing a couple comps in the neighborhood okay by listing hey you

know your your neighbor down the street you know they just sold their house it it looks almost identical to yours and

that sold for x amount of dollars and that was completely redone how much do you think you you you

would need to get it you know to get the house where that needs to be

you're getting them to talk about how much the renovation cost is and you're getting them to talk about what you need

okay you have any ideas on that Khalif

a no that that was good especially when you have somebody that's

kind of not in the the same Stratosphere as you as far as asking price is you know you got to put on your education

hat uh 100 and welcome down the path to how you got to your number just again to be

authentic with them and being genuine is that hey you know I'm in this to help you

and in that I am looking to make profit for myself

and here are the Bare Bones numbers and how I got to where I got so again you're not just

yeah being that the hammer right and just throwing a number at them and call me if that works

100 yeah don't be afraid to tell people hey I'm in here to make money people

know that you know unfortunately that that's how it is

so finding out their reason why I I've I I've already hit this before but we're

gonna say it again because this is the most important if they you know find everyone has a reason why they want to

sell okay everyone does if they do not have a reason they're not

motivated to sell and put them up in a follow-up situation put them in a follow-up lead okay

all right find a solution to help their situation okay whether it be back taxes

hey we need you need to close in two weeks you know what let's try to make that happen

all right but in doing that the price has to be lower so we can easily get rid

of it like that keep that in mind okay so

let's see here all right once you get all that information

I still haven't told you to give them the offer yet because you don't know the true

condition now a lot of virtual wholesalers out there will give them an

offer right off the bat first thing based off of what they say and I'm not

saying that's wrong and I'm not saying that's right everyone has a different way of doing

things that's not the way I do things sometimes what I do is I give them a rough ballpark to make sure it's worth

actually going out to the appointment sometimes that works and sometimes it doesn't okay

but what I want to do is either if I'm doing it virtual I will call back to

possibly even get some photo or I'll set up where they can send me some photos okay to give me a rough idea to make you

know things like that and then get them an offer or if I'm not doing virtual if I'm local I set up a time to go see 

to actually have an appointment with them okay setting up the appointment

is actually very important because you get H you get the chance to meet them

face to face people people will trust people they can physically go there and

touch they will trust you more if you're in person okay not saying virtual is bad

by any means everyone has their own process okay and within virtual everyone

has their own process of getting photos people can build rapport just over the

phone by all means it's not I build rapport over the phone but

being virtual is not a situation that I have at this moment doesn't mean I

won't change that establishing a renovation costs

so after you go set the appointment based on what they say or whatever

establish a renovation cost uh everyone has their own renovation costs we will

be coming out with a 

we will be coming out with a Excel spreadsheet that that you'd be able to

purchase and we might give it away a few times uh of a it's called a calculator

it's a deal calculator and we'll have a rough estimate of uh

estimation rough estimate of uh renovation costs in there

based on square footage whether it be medium heavy or light rehab okay

uh be very careful on that this is where experience comes in

handy okay if you want to hear see a a deal

calculator us offer it by all means reach out uh

you know put in the chat let us know you know we're working on the deal calculator right now so

you know I'm trying to make sure that whatever we put out is going to be the best for everybody all right

you know Khalif how do you establish a rental cost

I guess there's kind of two ways I do it the first way is ultimately on the

seller side is when I'm talking to them and getting a feel 

for what you know they want for the property what their idea of the rental cost is because sometimes 

that's the reason why they wanted to sell it as is right they got a quote for the work needed and they can tell you exactly to the T

how much is needed on the back side of that is you know your buyers are going to be different

based on their exit strategy being either a hold or a flip

as well as how high end of a renovation costs

they're going to incur flipping the property so

on the front end it's it's definitely not imperative to have it down to an exact science

you just want to have a ballpark because even you know newer wholesalers get caught up in the weeds

with not taking action because of they don't know you know repair cost

wise what to do yep so a good thing is I mean honestly in

my opinion is getting in there meeting with the seller getting good pictures getting video

then at that point you can come back to the lab and again with your network

trying to reach out to somebody that's a little more seasoned than you or there's apps out here like Angie's

lists and things like that where um there's contractors and things of that nature that can help you out with

figuring out those numbers sometimes they'll they'll even come to the appointment with you to give you a free quote

um to figure that out so I guess I say all that to say the most important part on figuring out renovation costs is

getting that appointment and getting in there yep um because you can always Circle back around

um and even sometimes it's a negotiating tactic if you have no idea and you may lock that up too high

because now you've had somebody walk through let you know what's it going to cost to put it together and kind of have

that meeting in the minds with the seller and that's actually one important thing is is that you know dealing with

experience and then also dealing with your buyers say you did lock it up too high and you think the renovation cost

is going to be 20 grand and you tell your buyer your buyer comes to you and

just they they don't give you an offer or they just blatantly lose they

blatantly just don't answer you what I would do and what I've I've done this in the past is I say hey I

understand this my deal might not be a good fit for you but tell me why tell me is it the renovation cost is it you know

what what do you expect the renovation cost to be on this project

and you know what would you what price would make it

work for you and if that would be something if that's the only hiccup for you

and by listening to that feedback and by listening to enough of that

that is what will make you a better wholesaler that is what makes you better on the next deal as well and helps you

maybe if you have an offer from this guy who says you know what you put it out

there at 50K and you estimate the budget of 15 or 20K

for a renovation they come back and say this is going to be a 40K renovation all day long this

would be a deal for me at like 40 okay

you know so now what can you do you can go back

say if I can get this down to 40 for you okay

and say you've got it locked up for 40. all right and you're trying to sell it for 50.

now you can go back to the seller get a price reduction and say if we give you if I if you give

me this price reduction we'll close in however long your buyer

just told you you can close it a week two days three days four days okay

whatever the whatever the case may be now you might not make as much as you

wanted to make say you had a 10K spread and that just ate up all your 10K but now you got to go for a price reduction

and now you'd only make 5K well guess what 5K and a fast closing a guaranteed

closing is better than nothing you know so that's the way I I've done

that with some deals where I'm not putting it out a second time I listen to my buyers who came through and walked

through it so that's where you need to make sure

you communicate with your buyers and don't just blow them off when when they say sorry is it the price is too

high you know so with that

how to run comps I'm going to tell you I could do a whole episode on how to run comps all right a whole episode

it's an art it's a it's a skill in an art form it really is okay in Detroit is

in my opinion Detroit is probably one of the hardest cities to run comps in 

what do you think Cleve yeah it can be a challenge if you're not in

you know I guess the to split it up you have your wholesale zones

your rehab in your prehab zones and then you have you know the war zones

when you get down into the war zones they may be easier to comp because

all the houses are selling for pretty much next to nothing 

that's why you want to stay out of that's why it's labeled the war zones when you get into your wholesale

zones it's a little bit more challenging because just this part of the Midwest

especially Detroit is heavy on the rental side yes so you may get into a area where you

can't find any Soul comparables because a lot of the homes are either rentals or

it's a block of homeowners you know that have been there forever yeah so it's tough it's tough to comp

them out in Detroit so to your point it is more

of an art from just experience of being in the field and again you know leaning on your buyers that you find that buy in

that area to see what they're paying for them and that's the motion thing most important thing is talking to your

buyers trying to figure out what they're paying okay in the suburbs you can start

off with a half a mile out and don't cross major roads or anything like that

your normal comping videos out there if you look back in the beginning of the

year one of the First videos or actually one of the last videos we did at the end of last year on my YouTube channel is we

actually did a comping video into for Detroit and the Metro Detroit area by all means go back look at it we'll do

another one later on but it is it will help you at least in that area and

if you don't know how much reach out to your network for instance you can reach out to me you can reach out to Khalif

and say hey what do you think this house will go for this is the condition this is you know

blah blah blah you know they're looking to get this I'll tell you what I think I could we

could sell it for and you know what you should get us you know under contract for but the thing is

is that if you come to me and you ask me that and then you say you got under contract

where I think I could sell it for and you want to sell it for more I'm probably going to tell you to kick

rocks no offense it's just you didn't listen you know I get that all the time what do

you mean you get that too Khalif yeah and I I think that's just 

a fear piece which comes to bite you in the butt because you tell you know

somebody gives you actually your opinion and say hey I think we can sell this for

40 to 50K right 50k being a a a long

shot and they go back to the seller starting low and then are so scared to

to lose the potential deal they offer on the far end of the spectrum and then come back to you hey I

gotta locked it up but it's like you got locked up for where I said we can move it at so exactly ultimately you

you're going to spin your wheels trying to move it because we've already figured what it was so for and then you're going

back to the seller anyway to try to get a reduction so you know I was taught I Can't Remember by who but

you know it's kind of have the mind frame to always be closing but always be willing to walk

away if the numbers don't make sense because in the long run you just end up spending more time not getting it locked

up for the right price and you know you wear out buyers

because you know you're taking them through a property where you know it's priced too high and you're

wearing the seller out because you know you're promising them X number when you know that's a long shot where you should

you know be truthful with them at the number that makes sense that you know you can

execute what you said quickly efficiently you know get the house off of their hands and get them a check

instead of you know eating up essentially that due diligence period just to come back to them you know let

them know that you may need to go another Direction oh 100 and that's the thing that I see a

lot is people get through here and they just they're afraid to walk

away okay they're afraid that this you know I got this great lead and it you

know what I just don't want to let it go but you're not going to close it

so you're going to put in all this work and it's not going to happen or you're going to make very very little money

okay and I get that you want to push it and push it but you have to stick to the

numbers okay as soon as you try to push it above and and I've been kicked in the

butt before on this so many times where I tried to push it you know what I think

I can try to push it for this it just doesn't work out you know

you have to look at you know what is working in the neighborhood what is not

working you you really do because thing is is that you can't

I hopium is not a good business strategy period

you don't want to run a business on hopium okay and if you don't know what hopium

is by all means ask me I'll I'll tell you all day long because

I spent my 20s in hopium and I got nowhere

so I'm gonna tell you opium does not work period all right you have to stick

to the numbers as a business person you have to stick to the numbers all right

you know with that look you have to look at properties that are like so

similar similar products for instance brick versus brick houses frame versus

frame houses Bungalow versus Bungalow if you can all right

um same same you know same style houses 

you know two-store you can't take a two-story versus a bungalow like it just doesn't really work so you have to do

light for like and then you can't do a new build versus a 1930s house okay

it just doesn't work same style house all right

it's all Basics by all means I'm happy to go into it in later videos

um also let me know in the comments whether you want more of those videos I I'll try to try to make them

how do you know what buyers will pay it's simple

ask them okay but I get a even less simpler way then

all right even more complicated way but you look in the neighborhood

and look in the neighborhood and look for cash buyers in that neighborhood

okay see what cash buyers are paying all right not only what cash buyers are

paying you can tell when somebody's buying a lower in the neighborhood you can tell when someone bought a fix and

flipper okay so see what those people are buying those fix and flippers you

you just saw one uh you know down the street that's a fix and flipper that

just sold for you and that's your comp look to see what that fix and flipper bought it for

okay see how much work he is a similar amount of work he had to put into it

guess what you at least got a neighborhood of a price a ballpark

all right then do your numbers backwards network with Buyers at real estate

meetups talk with them see what they're doing

this is not if you have a huge ego and just want to boost yourself and

boost yourself and yeah I'm doing this and I'm doing that um

by all means this is not the thing for you you have to learn to listen to people okay if you

don't you're not going to go very far

know what's important in your Market I know in Detroit brick is important

but as soon as I get out to the suburbs it becomes less important

okay keep that in mind every Market is a little bit different

all right some people you know find it in certain markets duplexes are more important than

anything else they they get a higher premium okay

look for patterns in the neighborhoods and I so I'm trying to make this as generalized as possible so

it's not just for Metro Detroit I'm using us as example because this is the

market that I work in police Works in okay but this will work in any Market

out there you have to look for all of this in all the other markets I don't know I got a 855 number calling me just

keeps calling me that's crazy anyways talk with your buyers listen to their

buying criteria if you talk to enough buyers and listen to enough their their criteria is going

to be very similar okay know the market by getting getting in

there and doing deals okay learn how how do you how do you learn anything by

diving in you don't keep analyzing analyzing analyzing you're that's you're never

going to know how to do a deal if you just keep analyzing

you have to sometimes Dive In I've locked up deals too high and had to

let deals go because of that and I've learned from every single deal that I've done and every single day deal that I've

not done because of that what I mean by that deal that I haven't done or I mean the deals that I had to let go because I

had them priced too high because I was working on those hopium I you know what I I hope a buyer can

pay this much for it you have to understand you're not here to sell buyers on one deal

okay you're here to sell buyers on multiple deals that you want the buyers

to come seek you out because you have the good deals not because you got one

over on them so if you got one over on them guess

who's not coming back to you they're not going to make money once once they figure out they're not going

to make money they're not going to buy another deal from you what do you think about that Khalif

a yeah that's the I'd agree with that especially when you get to doing this

long enough and you are focused on building your

buyers list ultimately you you can probably attest to this Randy you you do you

essentially do or offload your deals to the same handful of buyers

not for any reason other than they know what they want they're willing to give you a number and

they'll close quickly yes and and those those become your

VIPs I hope I'm not jumping ahead or anything a little bit but that's all right

it's all right we can talk about it yeah and they're they're the ones that are they're gonna be valuable to you

for this reason and it makes your job a lot easier because now you're not

spending your wheels casting a super wide net on a whole bunch of different marketing channels you're just looking

exactly for the deals that these guys want because you know if you find them they're gonna buy them

correct so so again I guess just getting and I'm me

and Randy talked about this offline is I'm in focus and more so nurturing my

buyer relationships to know exactly what they want if I do send them something they don't

want you know apologize and take that opportunity to have a meeting or a conversation with them to hone in on

what they do want so that again you're being efficient with your time because at the end of the day you're a marketer

and everybody doesn't want your product so stop wasting your time if that's all

you have or wasting your money if you have a little bit more of that to expedite things on

you know producing a product that you don't have a buyer that wants it most definitely

so I had you know what this movie I'm not even gonna attempt to say the

name moose yeah I I'm gonna put I'd butcher that name and I apologize for that but I want

to answer their questions says Hey guys thank you for the info do you have experience with wholesaling seller

finance slash land contract deals more specifically how would you come out the

future value to know if it's a good deal Okay so

I'll get my answer and then I'll have Khalif give his answer okay in my opinion

you don't you don't put out the future what happens is with a seller finance

deal or a land contract it's all about the cash flow

if it cash flows okay price is the now the last thing that I have to worry

about then the main thing that I'm worrying about with with land contract or seller finance is actually whether

cash flows and whether it makes the my buyer money every month okay look at

their cash on cash return okay so now how am I going to be able to

put my my fee on that that fee goes through the down payment okay if the

if the seller wants 25 Grand down and I want to put 10 grand on top of that

now I will my buyer pay 35 Grand down on a house

okay will that work maybe maybe not maybe you gotta talk to

the seller and try to get a lower down payment so you can get actually get paid so

that's my opinion every every situation is different but the main key

is Cash flowing does it cashflow what do you think about that cliff

yeah I mean I think I would say the exact same thing on your end 

cash flow meaning on a hold perspective yep but you got the the flip

perspective too is the the cash on cash return so on the flip you're not

worrying so much about cash flow you're worrying about if you got to put this 25 or 35 Grand down

and then your repair cost and your holding cost which is you

know what it's going to cost you to actually own the property while you're flipping it yep if

putting that all together with paying off the if it's a

mortgage that the seller's leaving in place or if it's a land contract once

you have your proceeds from the flip if that makes sense yes so that's another piece of it too so

I mean I don't think I get what you mean by Future Value but I mean if we were realistically able to

tell that we would be having a very different talk tonight if we can be sitting in the

Bahamas right now I'll tell you that right now for sure for sure now another thing is that it brings up is also

a lot of people this is what they forget to do even on the seller finance you

have to look at the updated taxes okay because this person probably didn't

bought it back in 1990s or early 2000s and

they've had it for so long well guess what now when you buy it even doing a

land contract it uncaps the taxes and you have to look at the new taxes okay

you have to look at all of that all right so with that being said always run

your numbers with the updated taxes and updated insurance everything all right

make sure you run your numbers properly all right

so that answers their question there all

right wanted to how you run your numbers on a

Fix and Flip and hold I'm gonna quickly do this there's so many videos out there on this on a flick Fix and Flip it's ARV

times 70 minus repairs minus whole fail fee wholesale fee equals your maximum

allowable offer you're buying hold is your potential income okay minus your expenses

times 12 for 12 months equals your net income then you have to take that

and you divide it by purchase price closing costs and renovation costs all

added up okay that equals your cash on cash return Buy and Hold that is the number

for k for a Buy and Hold investor is what is their cash on cash return I'll give you an example in Detroit they need

to be around 18 percent 18 to 20 percent the reason me is

there's a lot it's a lot riskier area okay you go in the suburbs of Detroit

usually they're okay with 10 to 12 percent okay so may the main reason for that is

because in Detroit you're not going to get as much appreciation okay your your

income is coming from that cash flow the cash on cash return okay in the suburbs you're at least going to

get some of the the appreciation with it as well so that's why they'll they'll get a

lower return so that they can get it being a safer neighborhood get also a more appreciation year over year

okay sometimes the numbers don't work okay and you have to go creative

okay and you have to with creative deals

the purchase price don't really matter too much you just have to make sure that

it cash flows okay so Terry Penny says less most

definitely less alright I understand that so I think that's what

she means is just in in the suburbs there's less

period And I 100 agree with her alright so that's the reason why you know

let me I always forget when I have to go over here all right finding out what buyers want

for a as far as a return on investment ask him it goes back to the exactly what

we did ask them get to know what they pay having experience working with

them and working in the market really helps ask people other wholesalers and

you in the market that you're working if you don't know buyers JV with other

wholesalers you can always JV with me you can JV with with Khalif me and Khalif's JV done a lot of deal okay a

lot of deals okay and I JV with a lot of other people here as

well but you know that's where building relationships are important okay if you

do want a JV with me by all means give me a call my number is right here at the bottom and my emails scrolling through

the banner here okay I'm happy to work with anybody who wants to work with me

and kind of go from there so I again getting to know your buyer talk

with other wholesalers JV with other wholesalers all right here's a big one right here what are

your VIP buyers and how to get them VIP buyers we've already talked about this a little bit they are buyers that you

network with and that you trust okay these are buyers that I can go on an

appointment I can bring them with an appointment with me walking through there

we go outside they give me their number they walk away and I try to negotiate the deal okay

is that right is that I never Market that property because guess what I just got my buyer telling me exactly

what he paid for it I just need to get underneath his price I've done that many times I have a few

quite a few I have a few VIP buyers that I that I can do that with

if you are a buyer B comes a wholesaler VIP buyer okay that's how you'll get

more deals all right someone can send you someone I can

send pictures to as well and they'll give me a renovation budget they'll give me an idea what they pay for it whatever

the case may be okay you know building trust networking you

know networking with them building trust with them and so on and so forth

all right what do you think about this colleague yeah I just want to speak I guess

from the wholesaler perspective yeah with the buyers is just to

kind of bring something back around that you spoke on earlier is if we send you a

deal it's just like press right they say there's no such thing as bad price yeah

you know it doesn't hurt our feelings there's no love loss if it's not the deal for you just give us you know the

feedback that you can give us or just let us know it's not the deal for you because what we don't want to do is

you know cause ourselves to give you blindness to our deals coming

across oh 100 percent I've had I've had deals where you know I

have buyers who I send a lot of volume to don't really get any feedback and then

you know I go to open up a property and they're there through another wholesaler

and it's like I sent you this deal so now at that point you got

you know another wholesaler in between me and the seller so you could have

potentially saved yourself some money on the acquisition and you know I take some responsibility for that is we should

probably be taking the next step outside of just emailing the deals to actually personally reaching out to our buyers

but I've seen that more times than I care to count where you know I've sent

a VIP of mine a deal that they got from someone else you

know and they liked it and ended up moving forward and it could have saved them you know a couple of grand or in

some cases maybe tens of thousands of dollars because it was such a good deal that you know I initially sent out that

you know somebody was able to partner with me and and still make some money oh exactly 100 and that's the thing is

is that you have you work with these other wholesalers now when I JV with

somebody and I'm sending out to my buyers there's other wholesalers out there that will add their fee on top

okay and there's nothing wrong with that okay

but how I'm I decided that I'm running my business where I don't want to add my

fee on top I want to work with people that have direct to seller

and I want to we both put it out at the same price and

we split the fee whatever that is okay whatever we agree upon we split it whether it be 50 50 60 40

whatever the case may be okay normally a normal wholesale deal for me is we split

this fee 50-50. okay there are extenuating circumstances and

things like that but a simple fact is is that I want to advertise at the same price because I've had it in the past

and I've been screwed before where I added my fee on top

we've gone through the deal halfway through the D halfway through closing my buyer sees the original seller's

advertisement selling it for five grand less 2500 less whatever that whatever it was

and now they're upset with me they won't purchase another property with me they may close on this because they want

the deal but they won't purchase another property for me so I've made it a point in my business

practice to do that I'm not saying that putting adding your

fee on top is not good because I tell other wholesalers to do that when I do my advertising okay

I'm just now when I jv on a deal unless I have a direct buyer right there then

and there and and my buyer knows that I'm adding my fee on top

where I I'm fully transparent unless that happens I'm gonna make it a habit where we

advertise in the same thing and that's it so you have any thoughts on that

belief yeah yeah I mean it's it's kind of just like you said on

the other on the other side of things when you work with a wholesaler and that's their preferences their prices their

price and if they want to work with you they instruct you to add your fee on top

yep you know if you're confident and you can put it out there and procure a buyer

I don't think there's anything wrong with that at all just from the fact that

your buyer needs to do their due diligence on the deal and if the deal makes sense

at the price that you advertise it at it shouldn't matter

and my buyers tell me all the time you know if the deal makes sense for me at the number you send it over I don't care

what you make on it right so that's that's the kind of people you

want to deal with because at the end of the day you know this is our bread and butter this is what we're doing to feed

our families we're not trying to screw anybody or anything of that nature we're just trying to put deals out there

and if it works it works if it doesn't it doesn't exactly there'll always be you know

there'll always be more deals just to your point I've had that same situation happen you know I've had deals

where I've been instructed put my fee on top and you know there's no way to prove it but my marketing at a higher price

might have procured a buyer to that wholesaler initially at a lower price so

you can't get caught up in the messy middle it's just you know volume moving on to the the next one if this

one doesn't work or you know celebrating this one working and still moving on to to try to get the next one done

yep 100 and that's where developing these relationships help so

again you know let's move on a little bit we're gonna go to how to find a good

title company real quick I'm gonna move pretty a little bit faster just because we're running out of time here how to find a good Tire

Company ask other wholesalers ask your buyers Network at the real estate

meetups and then just try them try them on a deal see how they are oh

you don't like them you don't like how they did this or whatever maybe it was just that deal try another one see how

they are okay you know how to talk to them ask them do

they do assignment of contracts that's huge it's most important okay

do they work with other whole with wholesalers okay if they don't even know what a wholesaler is

or what an assignment contract is move on okay

it's not your title company they have to be investor friendly okay 

you know and then folk just ask them what's the process to start trying to work

90 of the time is all through email 99 of the time

okay the process yeah the process of

what should I tell the seller and the buyer okay

so here is you're in the middle you got your buyer over here your seller over here

okay you can't put them together because the seller you don't want the seller knowing what the buyer is buying

it for or anything like that in most cases anyways

so you just keep each one updated on the process make sure the buyer

sends in their EMD deposit because even though you don't you you may or may not

require a EMD with the seller you better require a EMD with your buyer

okay follow up with the title company to make sure you're the they deposit the EMD okay earnest money deposit that's

what EMD stands for if you don't know ask the buyer on how much of a notice

they need from the title company for a closing date all right

so we're going to go through this whole process if they're using hard money if they're using whatever the case may be

you're going to get everybody on the email chain you're not going to put the seller on the email chain

okay but you put the buyer in there because the buyer knows everything and you're the only link to the seller okay

so you're going to do the closing date you're going to do all that at the title company asks for the seller's

information that's perfectly fine they will reach out to the seller on a separate email with you okay have make

sure they include you on that email all right most importantly keep the seller updated

in the process most people this is what happens they get the signed contract

now I gotta go find a buyer and here's the seller over here like hey

hi we signed this contract I I haven't heard from you in a week two weeks three

weeks are we closing no I don't know tell me what what's

going on now they're getting hit up from other wholesalers because you're marketing this and you got some bad wholesalers who's

trying to go behind your back to get to give them a higher offer okay

and they for now you get yourself into a situation

I say it is a situation because there's ways to get around that but the thing is is that you as long as you build good

rapport with that seller okay and you keep them updated in the process

they're not going to listen to anybody else I'm going to tell you that right now

they will actually tell you when somebody calls them with another offer

so just keep that in mind all right so most important is keep the seller

update on the process you have to do that make sure the seller sees the

seller closing documents and not the buyer closing documents

there is a difference the seller closing documents will not have the assignment fee in there the buyer closing documents

will okay so it'll be a there's a seller statement and a buyer statement and the

buyer statement is where you'll see your fee the seller statement they will not and

you have to make sure a good title company will know to do that okay

you got any any ideas about that no no that's that's good practice to

make sure they're updated and make sure that you send them the right statement and they'll get you know to review that

important piece on the seller reviewing it is it's going to be preliminary

but they're going to have an idea on what they're going to be walking away on closing day

there's been some instances where documents for whatever reason don't get produced until you're signing and then

you have lights or you have back taxes or water

pads six thousand eight thousand plus water bills which you know each the the

seller's proceeds up I've had instances where that caused the seller to have to come to closing with money so

that's a good practice to make sure the seller sees that well in advance before closing so you know the deal

doesn't blow up at the closing table 100 so

now here's another thing is getting this is we're almost to the end you guys we really are we're almost to the end

when you say Getty when you see that getting paid here that's the end I'm going to tell you that getting paid how

do you get paid the title company should pay you either by check or wire the

amount your assignment fee is okay whatever is stated in that HUD statement okay well they don't call them HUD

statements they call them just statements now but whatever is in that statement for you all right

we're in Michigan we're a title State okay every other state there's other

states that are in an attorney state it's very similar the process is very similar I haven't dealt with an attorney

State before so I can't really comment on that too much but I I know the

process is very similar as title all right as a title company so this is something that I I always

have to make sure I follow up with the title company title companies are slow they are busy they're very busy they

have multiple closing per day I have to constantly follow up with them to make sure hey did this get funding

when are you are you sending out this or this and that I have to always follow up I've never

not once not gotten paid I just have to follow up because everybody's busy especially when you

come to a holiday closing our closing that's just before a holiday it's crazy okay

because I am not at the closing table okay where

everyone's signing everyone you know I have to make sure that everything is

funded and can by communicating with the title company okay we've had issues like

that before to make sure sometimes it's delayed the closing by a day or two okay you have to always make sure

by doing this you're creating the relationships title companies will want

to create a relationship with you as a wholesaler because you do multiple deals

okay you bring them business period so you're going to be a great asset to

them all right by doing this deal you've now created a relationship with the title company

you've created a relationship with the buyer you even create a relationship with a seller first like well you just

the seller just sold you their house what kind of relationship does that create

you know how many sellers have multiple homes you know how many sellers have multiple

have friends that are looking to sell their home or invest other investors that they work

with hey you want to go to this guy over here you know he I just worked with him he made it as smooth as can be

okay remember you're not there to do only one deal you're there to you're there to

create a business to do many more deals it's just as simple as that

now what's next following up following up with the upcoming leads

okay but don't forget about the people that you left that you networked within

in the past don't feel don't forget about your follow-ups okay

I get I get probably 90 of my deals from follow-ups okay from following up with people

constantly okay you never know when a lead is gonna just fall on your lap

okay just because you have a relationship with that person okay uh

with someone that you've already did a deal with I've had people come out of blue call me up and hey I got this deal

you know what I just bought it but you know what I I don't have the funds to get rid of it

uh at the moment I just want to get rid of it you know this is what I paid is

what I'm looking to get rid of it for blah blah blah so on and so forth I've had I've had other buyers do that

all right people do business with people they know and trust that's it

this goes for sellers buyers everything okay

and lastly rinse and repeat

rinse and repeat we're here to make a business not one deal

okay if there's any questions please put them in the chat I know we've been going for

a long time let me know what questions you have if you're not on the live put them in

the chat and I'll answer them later on by all means if you stayed here for I

know this is an hour and 21 minutes it's crazy you know and then this is all our social media

now I will say we are I'm I'm working on my website at the

moment and I'm working on a on a section for it for our podcast where this will

be it will be right on our home it it helps a lot

if you go there take a look at it things like that but we're also working on a part where we're going to be get

giving away either free or contracts or you can purchase the contract or when

we do the deal analyzer and we'll be able to do that as well where you can that's a place where you're going to be

able to purchase the deal analyzer that we're going to be making so

randystadwell.com you know that's where all this is I'll show it to you real quick on our

on here

there we go and

hold on

so randystudwell.com this is the the website here podcast if

you want to join Venture with me click on the joint venture link click on this link right here what it will do is it'll

take you to this form that you fill out and as

soon as you hit submit it goes to my Podio it goes to my and I will reach out

to you as soon as you as soon as you as soon as I can and we can take it from there

so if you want a joint venture with me click on that click over here if you want us to buy your property if

you are the owner you can use this form or just click on the joint venture form still click on that as well either way

works for me you know go check out our website this will be the the home page here

which is for our podcast we try to get them updated as fast as possible

I've been working on these I have the transcripts down here for what we say

I'm doing a lot a lot of that's for SEO purposes so

and we only put part one in the video and then you can click on here for the longer form video click on the title so

by all means you know let me know what you think I'm happy to hear feedback and

kind of go from there so we'll check that out

that's it Khalif what'd you think about today no that was awesome

I just got one point yeah bring it on and help me out yes just on getting paid man 

a line I've been using probably the last two years now is

you know at closing after everything's done I pull the seller to the side and I ask them hey do

you know how I bought your property and they're like yeah I have no idea

well the last house I bought seller made a nice chunk of change and didn't know what to do with it and they

became a private lender and they lended me money from their proceeds to buy your house would you

like to do the same and you'll be surprised man a lot of

people want to get into real estate and have no idea what to do and you just literally were the expert they dealt with in this

so don't don't let that opportunity pass you by to

again you know funding is hard to come by especially if your Ducks aren't in a

row as far as credit and having cash in hand for down payments and stuff to utilize these folks as private lenders

because you obviously know what the hell you're doing and if you can show them how they have some money that if they

don't have a plan for you know they're gonna blow it yes to show them how to to get a cash

on cash return and you know you have a couple of those to repeatedly call up

anytime you have a deal it's a great way to get some private money you're able to set your own terms to create

you know a win-win for yourself and you know your seller turned private lender so that's just one thing I wanted to to

put out there because a lot of people always hit me up for hard money lenders and private money lenders

that's how I I choose to get them just because you want to you know set your terms you don't want that person to

be in the business so much where they're dictating what you're doing you just want somebody that's hands off that just want to return on their money that's the

The best way to get it is to build that relationship 100%.

so build that relationship and if you don't ask you don't know

what's the worst thing that they can do is say no and that's just the same as you not

even asking in the first place exactly exactly so the way I see it is the worst

thing they can do is say no so why not ask yep all right so 100 I really appreciate

you Khalif coming out here with me um yeah everyone out there out here in

YouTube land you know please let you know this is

this is is really good it's really good so Marvin Marvin asks like PL tip I

don't know what PL tip means so private Linder private lender tip

okay yes private lender tip 100 awesome yeah that was really really good so

um yeah that was it it is really good um

by all means if you don't know if you don't ask the questions you you don't know so

um thank you everyone out there for watching thank you for if you are

just joining or anything like that please watch the video backwards I had this great PowerPoint I put together an

hour before we had this and that was 25 slide I can't believe I got that down in

between like literally an hour so just before we had this so that's crazy

but you know I'm looking I'm going to be improving it actually and then

um through our website we are we're we're building strides man we're doing

strides you know I'm gonna do a deal analyzer we're gonna do everything that

we can to try to help out as many people as I can lastly if you want to do

a one-on-one with me please reach out to me if we record it I'm doing them for

free at the moment normally I do charge so go from there

I'm for instance I'm doing one on Wednesday I'm doing a one-on-one with

when on Wednesday through zoom and we're going to be recording as well so it it's going to be awesome I really appreciate

it Cliff one I'm gonna bring you down hold on there we'll talk talk in a minute but for everybody else

I really appreciate you coming out here you know I really appreciate you

doing this sticking with me and let's all do deals together enjoy my life thank you have a good day

see you on the next one

there was once a day that I would pray for you I'd go and misbehaved just so you notice

RET W/ Randy Stedwell EP# 16 | Dexter B. Jenkins on Fix & Flips in todays times & Real Estate Expert →

Hey Everyone On Episode #16 We will be talking to Dexter B. Jenkins about Fix & Flips as well as any projects he has going on right now. We will also get in to his overall investing strategy. Tune in because this is one you don't want to miss.

Dexter B. Jenkins is the managing partner of Dominion Real Estate Holdings

(DREH). The firm is an investment company focused on “value-add real estate

opportunities, house flipping, wholesaling, and real estate project consulting.

Dexter is a licensed realtor in the Commonwealth of Massachusetts. And both he

and his wife Kendra, are alumni of The Brownstone Training and Education

program. Brownstone is one of New England’s premier real estate investor training

programs.

With a passion for financial literacy and real estate. Dexter is the host of The

Wealthy Conversations Podcast and Let’s Talk Real Estate television program

shown on The New England Christian Television Network.

www.Dexterbjenkins.com

www.dominionreh.com

This is for everyone out there who want to know about Metro Detroit Off Market real estate. We will be interviewing people every week and taking questions from everyone in the comments or they can come on video with us. we will post the link in the chat when the LIVE starts for those who want to come on video with us.

If you want to JV with me on any deals in Metro Detroit market Contact me though

E-Mail: RandyBuysHousesMi@gmail.com

Phone: (586) 307-4765

Join our free Facebook Group

www.facebook.com/groups/metrodetroitoffmarketrealestate/

www.YouTube.com/@randystedwell

www.instagram.com/RandyStedwell

www.twitter.com/RandyStedwell

You know I'm a little more strict with what I'm I'm looking at

out there in YouTube land and our Facebook page on Metro Detroit

off-market Real Estate Group I want to say thank you for joining us if you're

watching right now live by all means hit in the chat and ask your questions as we

go all right I you will be a part of the show so with that being said what we're

gonna do is we're gonna I'm introducing Dexter B Jenkins I met him at the

Detroit real estate Expo my God I'm gonna tell you right now he is a wealth

of knowledge awesome guy and you know he has a lot of you know tips and and

tricks and just life experiences that you can share with us so that we can make sure that we don't do those

mistakes at least try not to anyways so with that

being said let me bring know Dexter Dexter how are you doing what's up my

man good to see you I'm glad to be here I'm excited to be here tonight and you know hang out with you with your tribe

awesome so I'm happy I'm very happy to have you here

so you know with that being said have you ever been to Detroit since the Detroit real estate Expo no no no it was

the first time that I had ever been to Detroit I've been in a lot of places because I was I was a basketball player

I played okay you know we would travel different places so Michigan yeah I think I may have gone to Michigan once

or twice but I've never been to Detroit and so I was super excited got it about going actually my second time because my

Publishers pan Perry lives in Detroit so she did a workshop for us the back in the last year

so that way I'm thinking that was my second time but it was my first time really going downtown and driving around

and getting a sense of what was going on you know so my son and I went by where the Ryan play and you know just

drove around so it was cool yeah that was awesome so and that's the

thing like I don't want to get too far ahead of ourselves but right but there was one story that you said at

the Detroit Expo that hold on at the Detroit Expo they he's like yeah

this is the first time I came through here and like I'm gonna let me just have you tell the story about you driving

around Detroit and and trying to find some deals or something like that so I

I'll let you tell that story not me I don't want to be there what what because what you know what what I was doing I

mean any City I go to I like I just like to drive and get a sense of what is like you know so we stayed in Southfield

okay okay Let Me Drive in to see exactly what a hotel is and all that so I'm not

before tomorrow morning and so yeah yeah so Cam's a camera with my son he said he

said dad I need a couple things from CBS I said okay so we were downtown at that that weekend if you remember Randy it

was the the Grand Prix was the Grand Prix I mean

everything was blocked off so we had to drive all around and do different things and so we ended up driving and what I like to do is drive

downtown and then gradually go out and so you know maybe maybe 10 or 15 minutes

out from downtown we just start looking at all these houses that were boarded up burnt up and

all that and so what I did was I took a couple pictures of them and I I picked up the presentation but I was saying

what my point was that a lot of times because you have lived in a place for so long you don't see opportunity and so

you know I I I don't know that because I haven't spent enough time in your Market but I'm like look the these are these

are these are houses and neighborhoods that you know need housing and if downtown and every and everything that

I've seen Randy is this yep renovate I would say a Renaissance starts

downtown and it gradually moves its way out yep so if we could get ahead of the

curves okay this this is three blocks four blocks 10 or 15 minutes away from this the episode of everything I hear

and fix up here because eventually it's going to be valuable most definitely so it was crazy because

the way you say is you're like I was out there to take out some pictures and no I didn't know what I was

gonna do hurry up take some pictures or hurry up get in the car yeah because I'm saying you know I don't know what

neighborhood this is you know right I'm a city kid there's certain Hood you didn't go into yep and so yeah right

quick like it you know not that I was scared but I was just like hey I don't know what what is what you know and it was still here like that there's certain

hair they're certain her to say you don't go to here too yeah yeah so if you do go you go strapped

if you do go you go strapped like yes yeah so but but you know I'm just trying

to illustrate you know that there's opportunity everywhere you know and I think a lot of times because of what we

hope we'll get to in a minute our minds are closed up because I talk a lot about mindset you know I believe the

strategies are real are very easy so if you wholesale Fix and Flip commercial

multi-family strategies but it's really the mindset that many people need to develop include on myself that will

allow me to build wealth and so you know my first my first point when I talk you guys listen we've got to decide to be

wealthy and I think a lot of times people don't make that decision they well you know I want to be comfortable I

want to do this like no no you you got to decide to be wealthy I just read an art I just read a a damn post before I

got on them just got on the what's it called you got on the show with you right now now and Boston they said now I

don't know what the drug would be they said in Boston that a person who makes minimum wage would have to work a

hundred and four hours to pay for a one-bedroom apartment

so so let that sink and there's only 168 hours in a week yeah so a person who

would want a one-bedroom apartment in Boston would have to work 104 hours to

qualify for that and so my point being is obviously that we want to build affordable houses and all that but my

second point is this hey man you you can't afford not to make the decision to go for it most definitely and it is a

total mindset you have to decide to be wealthy right if you don't decide to be

wealthy I'm sorry but it's just you know you're going to limit yourself

okay as soon as you limit yourself you put ceilings on you as soon as you put ceilings in you're gonna come right up

to that ceiling and then you're just gonna hang there yeah yeah because because I I think I mean look at a town

like yours there was a time where because manufacturing was big and all that well you could have a decent job

and have a decent house and you know not necessarily have to aim to make that much that much money per se but they'll

but those times have changed and so you know there's a line being drawn between the Haves and Have Nots now the thing I

like about real estate is that I think that a lot more people can become wealthy

real estate if they learn get the right mindset learn some strategies so that's what I like what you're doing is really

trying to Enlighten people on the different strategies and and 

really expose them to different people in the industry so whether it's me or other folk that I've seen on your show you know you're trying to give them

different perspectives and sort of hoping they can latch on to one strategy or two strategies and and have to help

them take them on most definitely and for anybody who is watching just to let you know put your questions in the chat

and we will answer them so with that being said I you know tell me a little

bit how you got started and in real estate in general so you know like tell

me I mean obviously you weren't born out of the womb real estate okay for sale sign

you know investor right right right you know come on come

out of your mind come out of your mommy's like for sale yeah

it was I mean I I will say I grew up around it my dad was a okay it was it is

a barber and he's always on real estate and so you know the house I grew up in was a

two family he had a the barber the barbershop had a commercial property on the first floor and then I had three

units on top of it and then they have four garages and so so in many respects I've always grown

around it but then what happened was when my wife and I bought our first three family in Dorchester in 1998.

is I guess that was my first and first buy but I really didn't start thinking about becoming an investor and using it

as a wealth creation tool until really about 2016 is when we got started and so

you know there was there were a couple people in my church who had had just went through this course

and they were there just they were on their first flip so I'm I'm reading through my emails one day and I was like

hold up this couple of that because the couple has a very distinct name their their last name is forts Fort yes I'm

like hold up there's could be only but one force and so when I and so when I 

saw them I was like you know what if they can do it I can do it you know and so that that sort of got me started so I

went through the same controlling training program they went through called Brownstone training and

development so I went through that and then my wife and I you know have been have been engaged ever since so 2016

2017 is when we really got engaged and got started awesome so when you got started

2016-2017 right right use What were what was your strategy and how did you

come across that strategy yeah well we we were fixing to flip but it's still predominantly do that you know so the

program was you you paid x amount of dollars and then you shadowed somebody for I think it was eight plus I think

and then if you wanted to do a second deal they would funded and sort of walked

through and so so the first two deals that we got involved in they funded and and sort of watched us do our thing and

then after that you know we were on our own which you know we were fine to do but so was this a court like a course

or like a program that you who is this put on by it was it was it was a course

you know so it was it was mostly you know we had some some classroom stuff but it was really Hands-On you know so

you they gave your project manager and you really Shadow to him you know because the only way to learn this

business you know Randy is to do it you know you could read a book and found the books and things are good for come you know for concept's sake yes well as far

as you actually doing it you know I always tell people you know if you wanna how do you deal with contractor

you have to deal with contractor how do you do a flip you have to do a flip you know so there's just some things you can't learn in the book you have to this

is a very Hands-On business yeah and so you know they allowed us to be Hands-On without putting out a lot of money up

front and then yeah you know and so what happened was as we became more comfortable and recognized that we had a

big brother and a big sister behind us yeah to go forward so the you know was it worth it first

off putting like how much did you invest into that program yeah initially was 25

000. and and and it was work I need some water on that

now now that was what that was a program that we got into now I I know

some people whose programs lowers lowest five thousand seven thousand yeah you know but for us that's what we felt that

we we felt comfortable with them and then we had actually two people I know

had gone through the program so I was able to run it by them and get a sense of what they thought about it and then

after that you know we we've been all in but you know whether it's Randy whether it's 25

000 or 5 000 or 2 000 people have to make an investment in themselves and most definitely most definitely a

lot of times people people run away from that you think about how much money are we willing to pay for college and we'll

pay hundreds of thousand dollars without the guarantee of us having any income coming out on the site now I knew that

if I paid 25 000 number one I was going to pay attention number two I was gonna make some money

off this thing and so you know and and I mean and this is a message anybody out there

mentors help you speed up your your your your success because you can spend a lot

of time out there trying to figure it out on your own and then you know you're spinning your wheels and most of the time you'll become discouraged and quit

but a mentor whether it's paid or unpaid you know so sometimes money sometimes you can do things for people

where you can fill in the gaps where you maybe just on bottles or some things you know how to do they don't know how to do but you can help them and they can

help you and so they can they can speed up your success right most definitely I you know first I

Victor Bishops asked what was the name of the program got no Victor Victor

it was a brown Brownstone training and development Brownstone training development and

development yeah that's awesome so the thing is is that I I I gotta reiterate

there's a lot of people out there who say there's these gurus out there I don't want to purchase their courses and

this and that in my opinion okay everyone has a bad

stigma of courses and mentorship and and this and that

if it's a good course if it's a good mentorship it is 100 worth putting your

money into it look at real reviews look at real people who've gone through it

and and talk with them but you have to invest in yourself right

the biggest thing that you're doing from that is you're taking the time away from

your all their experience you're allowing them to teach it to you and now

you're you're basically taking their time and experience and shortening it

with you you know so it's a cheat code it's a huge cheat code cheat code okay and I

will say this there's one thing that I never have done yet I have never done just you know and I I do regret it to be

honest but I learn by doing I have to do it you know so anybody who's out there

looking to get started or they're an analysis paralysis get started period I

don't care whether you're fixing flipping you're you're doing this you still run your numbers but talk with a

it could be a mentor that you partner up with it could be a venture your pay it

could be a mentor that you if it's a wholesale deal you JV with right it doesn't matter okay you know you're

going to get their expertise but then don't blow off their expertise and just do whatever you want

this is a problem I see is I get a lot of people who come to me and ask for wholesaling advice hey you know what's

this because I know Detroit I know what my buyers are paying in Detroit okay

huge advantage and so I tell them hey

you got it locked up too high you need to be XYZ they get it

and basically they get it under contract what I told them they could sell it for and then they try to sell it for hire

and I'm like you're going to have a hard time selling it right okay essentially

you're looking for the beginner investor to try to come in and overpay

and you're never going to do business with that investor again

okay so I would rather you know sell to an investor at a good

price that way I have that investor for a long time so that's that's always been my strategy

okay I can call them up and I'll win and be like hey I got this property over

here blah blah blah here's the address what what do you think you'd pay for it you know this is the condition blah blah

blah and they can give me okay great I'll let you know if I get it locked up thanks

go to negotiate blah blah blah okay come have him walk through yeah price sounds right all right great

all right sold I never marketed it never not once I have about five to ten people that I

can do that with actually less than that to be honest so it's like that's where you build

these relationships right so alright and I think Randy I mean

whether you do a paid mentorship or whatever I would encourage anybody listen you

the time is valuable but time is the most valuable asset we have and when you rub in the desert trying to figure it

out on your own you know you just waste a lot of time and a lot of opportunity you know so

you know don't be afraid to invest in yourself through any program is what I would say now so you guys like you said

do you due diligence you know check them out for that good you know check out the community make sure that they're not

just updated to make money off you but you know if a person has a good heart and they really care about their

students you know go for it most definitely so after you did that program

I you started fix and flipping and was it with just you by yourself did you

work with a partner or was it you and your wife like how did that stress my wife me and my wife have done our

everything we've done together you know and so okay after our first two flips

you know what we did was we went and got a multi or two family now all right now so this is right

around coven is when all this stuff kicked off and so you know we which is a

whole other story but you know trying to do anything during covid where you know people people were were not trying

to come to houses and people are not trying to be around people and all that you know so we got caught in the middle so we had two projects in the middle of

that when we end up sort of wholesaling and then the other one we actually finished and we kept you know so that

was a whole a whole nother story of you know having to persevere with the city and the city wouldn't send people out to

do inspections and you know but while all that's going on I'm still paying my

hard money lender and all that you know and so yeah it really was

a lesson in perseverance and keeping going and all that you know and so when we finally got the program the project

done got it running out you know that that that probably kicks off 2 800 a

month for us every every month you know but it was worth it you know but if it was difficult because of you know the

time period that we sort of fell in when yeah we try to do it yeah most definitely first I have another

comment from from our Facebook group Anthony he's like this is who I wanted

to see on here good stuff so yeah it was it was really good so Anthony

actually came out to the Detroit real estate Expo and saw you there so that's awesome so with that you know you

have the that is it a was it a Buy and Hold that you that you fixed up or was

it yeah it was a Buy and Hold so we did it you did two during covert so we did one was about holding and one we sold on

the back end I think we were just coming out of code we flipped okay so it was just a very

interesting time to be doing business okay you know because people were still somewhat you know so you're doing an

open house to Market but everybody has masks on it you know are you are you still doing flips right

now like how many flips a year are you doing right now well two or three I mean

I mean some of our business more Consulting okay

so we've done I'm in the middle of three right now so one not as I'm telling you before in

seven unit in Boston okay yeah yeah I'm going to tell you about that one and then I'm concerned yeah yeah so we'll

get into that story in a minute because because that that story is Halloween yeah yeah yeah yeah yeah exactly right

yeah so yeah about that so we could finish up that one and then I got one in West

Bridgewater I'm project manager for my mentor and then the other one where we're Consulting on the one in Milton

Massachusetts so we got three on middle three right now and then yeah the goal heading out of this year is to get

two of our own and then you know really begin to crank into going into 2024 or something okay multi-family stuff

so with you Consulting is it are you getting like an equity share Consulting

do you have to put the money in or are you just running the project for them with a fee yeah how is that working yeah

so the project manager is we're getting a portion of the product the 60

40. so they get 60 40 and then I'm probably end up listening too because I I am a licensed realtor so you get that

and then on the other on the other projects it's just a flat fee I mean these people I know so I charge them 10

000 on the back end yeah just to sort of walk with them through the process you know because they're just a lot of

things you don't know going if you've never done it and and I'm sure there's a different

level of Consulting versus you you actually being a project manager versus

okay come to me when you had questions right you know okay let's meet once a week and let's

go over your budget let's go over what you're doing and and then okay no you need to make this change this change

this change otherwise you're gonna see this and that yeah and on in our consultant we're very Hands-On Randy we

went yeah Power people and you know because I like to I like to get in my hands dirty yeah so to speak you know so

we so the two Consultants that we're doing now and we've been very involved

you know so we're going to walk the site once a week and you know just to make sure because you know you have to inspect what you expect yeah you know

I've I've met contractors but at the contractors so I probably should have charged more with what we did yeah you know but it

was it was just what we we felt we needed to do as we yeah into that Consulting Space is really get our hands

in the middle of what it's going to look like and going forward you know but we want to make sure most definitely well

you know so you got to make sure that things are good so most definitely I am Michael Ostrain

austral stranger and I'm sorry if I butchered another last name how he asked how are you finding your deals

Michael everybody is trying to find a way to find deals you know this is this

business so you know yes I have I have many relationships with people like Randy at my market probably three or

four good wholesalers who send me deals on a consistent basis I'm also a realtor

so I'm always looking for things that come on Market you know so they're basically two into five deals on Market

off Market both of them work most of the time off Market a better deal but sometimes you can sneak up on some

things on Market so I would say couple thing number one behind the good wholesalers in your area

to find investor friendly Realtors so

these are individuals who know what an ugly house looks like what cat piece smells like and all of that and they can

and they can see past all of that so I would say investor friendly friendly Realtors I would say go to your

local rias you know we call them ribs here you know yeah so associations where you know people

are talking about deals and how do you find deals because a lot of deals happen between friends and then you know the

fourth thing I would say is also just start start talking to people and letting them know hey I'm an investor

now you may not feel comfortable doing that because a lot of times people I'm just getting started I haven't done anything

what you gotta do is borrow the confidence of the group you know so I

have Partners you know who I'm working with and we're looking to buy some properties in your area you know so

those are the four areas I I I recommend people get started in most definitely and one thing I got to add to that is

when you get to know your wholesalers network with them get to know them tell them your criteria exactly okay tell

them exactly what you want and then don't sit there and say I'll give you an

example here in in our Detroit area Okay you know I get a buyer comes to me

and yeah yeah I I don't you know I buy in the suburbs I buy anywhere anywhere in the Metro Detroit area I go

okay do you buy Detroit property inside Detroit right okay and they said oh no no no no I don't do

that I go okay then you don't buy anywhere in Metro Detroit so all right so what areas do you

actually buy in right be specific very specifically be very specific then when

you see they put you on your list and they're sending you all their inventory

say even though it doesn't meet your criteria don't ostracize them and email back take

me off your list this is not my criteria blah blah blah if you don't like it ignore it and move on exactly because

guess what you're not going to see the one that does meet your criteria that comes out on your list

okay and if you send that back and do that that wholesaler will not work with

you again right okay I've actually had one person on my list that came back and said

that all I did was I emailed them back and said I am very sorry for that my one

email inconvenience your time and don't worry I will take you off my list and

you won't receive anything from me ever again right I was being so condescending

it's hard to do it over email but still and I I just sent that email took them

off my list and that was it like don't ever do that don't ever act like that

Bad Business you know it really is arrogant and bad business and it's not

how you treat people you know I mean I get stuck all the time that I'm not interested in to your point it goes to

my trash yeah I've lost nothing you know what I mean you know so I just think that

you you have to and this is sort of hokey dockey Okie yeah you know sort of you know I guess goody two shoes you

know treat people like you want to be treated definitely you know and and I and I think that and particularly in our

business it's a small community so if you get get the reputation of being a

jerk nobody wants to do business with you yep so I there's a few people in the

groups like that so I ain't saying any names you know and I think anybody out there

is listening who's from the Metro Detroit area has spent enough time in the Facebook groups they know exactly

who I'm talking about yeah so unfortunately they're not just in Detroit they're here too yeah

so so tell me what your Market is real quick tell me where your Market is so everybody else knows I I think I

remember you telling me but yeah I'm in Boston okay I work from Mostly Boston to a

town called New Bedford so that's probably like a 45 minute okay that I

saw the work in mostly okay you know you know because I think you can't spray yourself too thin and even that might be

two right too too far right there you know so you have to work what you are and then you know I'm thinking about

coming out by you guys I'm actually coming to your meeting on July 20th okay you know just just to hang out and get a

sense of you know opportunities out there in Detroit in the Michigan area you know because what I what I what I look at is can we

make the same amount of profits with the lower entry point and I just think that you know I met good people like yourself

I'm not like I said my policies there and so you know we're gonna come out there and see if there's a way that we can partner with some of you guys and

help you guys you know bring Detroit to the next level most definitely and so

just just because you brought it up for July 20th we are working on a a meet-up

a real estate Meetup through the 2XL team and so that is in the works

at the moment so they're they're looking to work with me on that to to help host now we haven't got a location yet

but we're working on it so right but yeah it's it's gonna be fun so

yeah and I plan to come out a day or two early to look at some properties so maybe the back while I'm out there yeah

most definitely I'm always happy to to connect with you and and that anybody

out there who does have properties send them my way I have buyers like Dexter yeah exactly

actually one day the guy Victor who who asked the question he's one of the guys

who asked me about the choice so I got people very I mean my area and coming out and you know just saying what you

know Detroit has to offer yeah most definitely and I'm always happy because like I said I I consider myself I don't

want to say I'm an expert at Detroit but I am a I think I'm a really good expert

at comping in Detroit okay okay and comping in my opinion from what I've

seen for the rest of the country I maybe all you can only speak of the East the you know eastern part of the United

States I don't know about California and all that but at least for the part of the eastern part of the United

States Detroit is the hardest in proper Detroit inside Detroit is the hardest to

come okay because it is block by block okay period like it's you really have to look

at the blocks and the neighborhoods got it so that's you know but the thing 

is if you're looking to do buy and holds it's all about the cash flow

borrow you know your return on investment and your cash flow right but you got to have the right team in

place right that knows how to deal with the area so

alright so with that being said so what is it you're doing right now that

say I know let's talk about that that seven unit but I want to talk about that

seven unit the seven unit property I bet you do you know I want to know first off

let's go how you got the deal right then we want to Deep dive into

all the problems yeah that happened

and then what is your end strategy if you've already closed on it or anything like that like you know what do you plan

on doing so so back to what I was saying that this seven unit was a was the one I'm I'm Consulting with it was a couple

that I married So I Married them back in oh my God probably 2012 is when I'm married back 2011. yeah and by the way

you're a pastor I am a pastor yeah so so I married them so this is a couple who

this guy who I knew he said Dexter I had this seven unit property and he'd been

talking about it man for about seven years I'm like look I'm tired of hearing you talk about that you got this unit I

said this is your year to get this moving and so I I called them up

walk the problem with my wife went out now Randy this house had was dilapidated meaning destruction was

good but the roof was coming off there were pigeons living there squirrels all that so you know we're stepping over

pigeon pool and everything you know

so I'm not phased by that dude I'll tell people listen that and remember when

Tommy Jones was talking to us oh yeah the cash is in the chaos yes so it was a

bunch of chaos around so I'm just like there's money here oh yeah but anyway so he inherited the property oh that

means that his his grandmother bought it for like 30 000 maybe I think he said in

the 60s and 70s so okay she she left it to him

and then what he did was you know he just he just paid the taxes on it and so he had people he had developers

coming to him who offered him three million dollars as it was wow

so three million dollars with all the bird pool and the pigeon

poo and everything yeah squirrels pigeon pool a roof not collapsing but you

know there was water coming in all that he could have got three million dollars for the property so that tells you where

it was now the reason why I'm saying this to you because we talked about this earlier right Randy that it's not it's

maybe 15 minutes from downtown okay Boston so

has Austin developed and stuff is starting to move out yep or probably

that his grandmother paid three thousand dollars a property that is dilapidated he could have got three million dollars

for as was and so now we're developing it and so the the bank is estimating

it'll be at least worth on a low end 5 million and probably somewhere closer to six but okay as I was telling you

before as we were doing this the con the original contractor that we hired died

on the project I've had contractors run out I've seen

contractors run out on people I've seen them run away with the money I've seen gone yeah Costa Rica seeing them they

you know do whatever I've seen them just go out and blow all the money on drugs and things like that

I've never seen one die I've never had that happen either so so the guy said to me he said he said Dexter he said have

you ever gone through this I said heck no I've never I've never had that happen so I I so we're so we're on a three-way

call Randy on Monday talking to the guy about some things we need to do because we were we were expected to be done by

now but we had a couple of things things go wrong with inspections and then we have some problems with 

the hard body language so we got to work through some of those things but we were expecting to be done in June and so

we're on a call say hey man these are things we gotta get done our goal is still to get done on about late by July

that's on Monday on Thursday I get a call from my my client he says he said

Dexter he said the guy died I said what are you talking about I said we were just talking to my mother he had a

magical heart attack and he died you know so now that means that you know we had to figure out hire a new contractor

which we did we had to walk him through the scope of work all that and so now that project is starting to kick back

off and after the Fourth of July and so it'll probably and it would probably estimate it'll be done hopefully by

around Christmas but okay you know it was just very challenging obviously it's very sad because you know the the the

the guy who died was only 53 he had a young daughter and all that you know so that was Saturday perspective but then

you're obviously looking at man I I got a the loan is for a million four on this

property so that's the is that the budget yeah yeah the budget is a million four okay

so you know we gotta still got to finish this project because the people you know they're they're cutting some Slackers say hey look get through all that stuff

first and then we'll pick it back up but you know you know and that as unfortunate as it is life goes on and so

we still have to I obviously the guy who passed away so we he was buried and all that but now we're looking to re-engage

and so you know like I sold to you that day you know and I was telling the crowd that I said man just something in this

business yeah you know that you you've never arrived you're always in school there's always things that you can learn

so I to your point I've heard people run away with the money I've heard contractors misspend the money I've heard people get sick I've heard a lot

of things but that the passing away piece I've never heard I've never heard that either and

that's crazy you know more most respect and my condolences to that family by all

means but the Project's got to move on you know so on you know so but because Randy

this is what the deal is like I said this this probably will be worth somewhere between five or six million when we're done and then he's expecting

to get about three thousand dollars a month in rent right so real quick I just

want to go over those numbers real quick all right in the beginning his grandmother

paid thirty thousand dollars correct okay in 1960 ish time frame okay

passed it down to it to her son okay or is it grandson yeah grandson grandson

sorry grandson passed it down and he's just paying the taxes which are probably

was it a a couple Grand a year it was it was a couple thousand a year is what it

was a couple thousand a year okay so over the years he's just paying the taxes on it just trying to get you know

whatever now he got an offer for three million

as is as is as is he could take it and walk and do whatever he wants

but what he decides to do is say I'm in it for the long haul and for Generation

wealth I'm sure he has children pfk he has three so he wants something to pass

along to his children like his grandmother passed along to him correct and he wants to make it where it's cash

flowing constantly okay so what does he

do he says all right let's do a loan we'll do 1.4 million on this budget

put it through there and it was a three we'll call it a three million dollar evaluation in the

beginning right so five to six million we'll call it we'll call it six million

okay right there so 3 million plus 1.5

million or 1.4 million he just gained 1.6 million dollars of equity correct

right off the bat okay by putting 1.4 million dollars in

there and not taking the 3 million now that is not where it ends

it it also pays three thousand dollars of cash flow is that right correct like

after everything's paid yep okay so cash three thousand dollars of

cash flow per month that is someone's salary well no no it's three thousand dollars Randy per unit

so seven times 3 is 21

000. so he's getting so he is that ever but is that after after the mortgage

paid and and no no so that's crazy that's pretty so so you know I don't know what I mean what it would be you

know so just okay he did the math but but just think about the fact that that

well gross will be 21 000 about and then obviously you got a mortgage of 1.4 so

you know because we may take somebody out to use something to go do something else with capital and things like that

exactly you know so he could realistically still get about after

everything's paid cash flow about three to four thousand dollars a month okay after everything's

paid I'm saying right exactly okay I'm thinking closer to ten right right

yeah that is someone's salary in one multi-unit

okay that is someone's salary for the entire year

you know and if you extrapolate that obviously right but it is crazy to think

that is that's what's called generational wealth and that is what you need to keep doing

that's my goal eventually I'm wholesaling right now but eventually I

want to have that generational wealth I want to have that cash flow I want to have that and I will eventually okay

maybe not right now but I when opportunities come you know so with

that being said that's how you have to have think with that mindset you know so

so he's thinking about potentially after it's done

refine cash out refi to put something else in that's the goal

you know so I'm already talking to him about what's going what's our next project because I'm like you got this cash here let's let's go do something

else you know and so that's that's sort of our thinking so you okay good with this private cover projects in 2024 but

you know see what I told him and I'm telling our audiences once you get one

multi-family matter of fact it'd be one single favor mostly multi-family you know that's your Golden Goose

you know so you can you can take the cash flow I'll live off and then as an appreciate take Equity out you know and

go buy something else you know so that's why I think that the process of you just getting your first property and learning

something strategy we're talking about tonight in the Bible says on the guys that you've talked about probably before I have you know it's just it's

just phenomenal way for you to build wealth for you and your family most definitely you have to start

thinking that way if you don't you're only going to get into the cycle again you know

I started I'm starting as a wholesaling but wholesaling is just right now money that's it

the Buy and Hold is the the the passive income I don't want to

call it passive income what I call it I I call it semi-passive

it's because nothing's ever passive you know because it's ever faster yeah yeah there's always a management capacity to

anything that you're doing it's semi-passal but you know I look at like you said wholesaling fixing and

flipping is today money whereas you know buying holes is is your some today

money but also big more importantly issue tomorrow morning you know and so we're looking to balance those two

things out and then we're not even talking about you eventually getting into lending if you want to do that you know there's a lot of ways for you to be

able to to use this thing called real estate as a wealth creation tool for yourself

most definitely and that's the thing like you know so how does it now

how does somebody get with be able to be have you as a mentor or have you as a

consultant or come through and be like hey Dexter I I need your help you

know this is my first deal this is I I you know I kind of need somebody to walk through all these steps you know

yeah well real quick real quick real quick I have

a and and all my questions I have is called a selfish question okay

is because that's it how could we do some deals together

exactly I'm asking for my friend

I mean part of what I don't know if you remember I was saying that we were doing an event the week after you guys okay we

did our event and it was for now week we had about 60 people in the room Victor was one of them Victor Bishop who asked the first question yeah with one

of them man and we really talked about all things we're talking about now on some level how to find deals how to how

to how to Fix and Flip you know how to find lenders and all that you

know mixture between hard money traditional money so we so we spent some time and then we talked about taking the

next steps because after you go from inspiration there has to be some sort of implementation yes and so you know we're

in the process of a process of starting some sort of mentoring program right now but just right now it's been very sort

of off the off the sort of off the cup but you know really inform what people that I know that say Hey Dexter I'm

doing this and you know because I have a love for Real Estate I just like I'll go look at anything I'll go look and then

you know but I what I found is that because my time is valuable because I like you said I'm a senior pastor and

then yeah I also do a lot of things around financial literacy so I have a teaching stuff I do around that and then

also the real estate piece you know we found that you know we we had to start charging people because it was just very

time consuming and so what I always believe that when people pay they pay attention so a lot of times if you do everything

for free people don't value it and so you know as people start to reach out to us that's that's what we've begun to

do and you know what I gotta say I've actually come across that myself 

you know not not for me as Phil is taking it from other people it's me

offering my consulting services for free to other people right they they say they

take it they take it in and then they they don't they don't do it to all the

way I'll put it that way they may take a little piece of it but they don't do it all the way and they'll think oh yeah he

doesn't you know he doesn't really know or he doesn't if I can get close that I'm like

you know it's that story that I told you in the beginning where wholesalers come to me and they ask me my opinion and

then then they get it under contract for for what I told them they can sell it for right okay well you're gonna have a

hard time selling you don't have a hard time doing that okay and I'm not saying

you can't sell it because there are people out there that do buy or higher ends higher rates

you know I I was specifically talking about the buyers that I use you know and

the reason why I use those is because I talk with them I see where they're

buying I see what they're doing and I know the areas you know

and kind of go from there I know as a wholesaler you have to know all the strategies right okay you have to now do

you have to do every single strategy no but you have to know all the strategies so that you know the numbers and you can

Market it towards that that type of investor you know so I've been seeing that

in my end where I do offer free one-on-ones to people right yeah me too you know I offer free one-on-ones and

anybody who wants to talk you know hit me up my number's right here at the bottom and as scrolling here is my

number and email if you want to have our JV with me so where I make my money

is if you want a JV ant with me on a deal then we 50 50. JB

that's where that's where my goal is so I don't pretend to be some Guru

I'm just giving you my experience that's it labeled me as a guru I'm not I I would

never do that and and I think that's powerful because I think one of the things Randy most people don't recognize

is two thing number one they know more than they think they know yeah so you know more than you think you

know I know more than I think I know but then also we don't value our time and so since we don't value our time we don't

put a price tag to that one of the things you have to learn how to do is monetize everything so I'm very much

like you you know I talk to people all the time I give advice I'm trying to get I'm not trying to get paid every time but but if I'm going to spend

significant amounts of time with you go to Floor and Decor with you talk to contractors with you and all that well

that's a different level of time commitment for me correct and so you know and I believe in I believe in

I'm worth a certain amount of money just like you are and so that that that demands a check with that you know what

I mean and so yeah that that that's just how I think and I think that successful people if you

listen to them talk that's how they think you know what I mean most definitely so yeah it's kind of like the

way I've been going is is there has been a kind of like a mentor here that I

follow when I actually first jv'd with him on my first deal his name's Todd

Sean okay great guy awesome guy basically you bring him anything he'll tell you

exactly he'll tell you the truth what he thinks and same type of thing that I'm doing you know awesome guy and he will

JV with anybody to you know to do a deal and and things like that

you know so I had mad respect for him because he is Detroit King you know like

basically he he he Wholesales you know Detroit all the time like it's crazy

but yeah so I give mad respects to tachun I'm be honest he is like one of

I consider him one of like the first mentors that I've had right so well and

and and then think about this Randy how much money have you made since you've

been working with so your first GV your joint version and then the things that you've learned from watching him

and just being in in close send me to him I've done quite a few deals and and

that's the thing like I did my first three deals with what was with him right okay not just the first one I did the

first three okay and then obviously like here and there in between every other

deal like I'm in my third year right now okay and we've done plenty of deals

together I've also done deals with other wholesalers plenty of other wholesalers and and so on and so forth so

where I shine is I go to almost every meet every week I'm usually going to a

meet up okay right and sometimes one sometimes two sometimes three right it

all depends on the week and I talk to the buyers okay I'm not a virtual

wholesaler who's just sitting here on the phone and trying to figure out okay great yeah you know acquisition is great

but you also have to talk with the buyers and see where they're buying what they're doing and especially with the

times with the higher interest rates as they went up correct I got to see how

they changed right as they wait you know so

and I changed my strategy as we go as we went as well you have to yeah always

adjusting in this business you know yeah so that actually brings me to a question real quick is how did the

interest rates going up change your business as a fix and flipper it it changed real estate just in

general yeah you know with people trying to buy I think for us as fixing flippers

it made us want to go faster yep because you want to hurry up and get things to the market

because of really the interest rates and so people are not able to as for as much house as they could or

people were afraid that they were drawing from Real Estate activity at all you know so the biggest thing is that It

sped up what we were trying to get done most definitely most definitely so

so we're at about 53 minutes here and I could probably talk with you all day long to be honest so but I want to be

respectful of your time too yeah I like I before I I used to just go on for like

an hour and a half hour 45 minutes you know so but I I'm learning as I go yes

that I can't really do that I got to be respectful of everyone's time well see Randy what you do is you do part one and

part two you say hey Dexter will be back at another time well you know we'll maybe yeah maybe maybe maybe we'll do

something live when I come to Detroit you know most definitely and and you know what I have done that I have done

that with other people brought them back on the show and the good thing is now I don't have to go about the origin story

I don't have to yeah you can just jump right in just jump right in and now we got an hour talking about just everything you're doing right now you

know so so my last question is how can anybody

who's listening and anybody in my audience here help you moving forward because now I'm

all about wanting to get you came on here and you helped me and you help all of our audience how can we help you

well I told you I'm coming to Detroit I I need somebody to go tell me what's up out there man you know me but also the

people that I'm talking to I'm like hey man I'm thinking about going to to invest in Detroit and then we also met a guy from

Cleveland out there at the at the Detroit thing too you know so those are the next two times of that next two

areas that we're looking in the midwest you know but I really like guys like yourself I like like I said my policies there so I think the biggest thing is

hey you know if people want to get in contact with me you know they can actually you can

put a notebook 857 3020367 is my number eight five seven

20367 that's my phone number all right and then you know my email address is Dexter next to be

at dominionreh.com and then obviously matter of fact I send that to you Randy and just put in the show notes and so

people can answer it that way most definitely and I do have a link to your website exactly

all that is in the description so look down below to get to his website you

can get a hold of them and kind of go from there with that being you know just let me know when you come like give

me a heads up and what you're looking for so I can try to find them as much as well well the thing is I don't know what

I'm looking for out there you know well I'm saying they're single family multi-family you know things like that

like generalize of course exactly yeah so so so so so you know I would love to just you know just get a sense of what what you know you guys would recommend you know as you said earlier you know

you You Fix and Flip for cash but then you know the money into buying holes you know so okay where where do you buy it

hold around here you know so what I'm thinking is you know but obviously we can talk about that when I come out most definitely now

I do want to hold you know obviously that Meetup you said you're going to come to that Meetup that we're gonna

hold on July 20th so that's gonna be awesome and you know with that being said you

know how I mean how are all these events you know

that you're doing like how are they affecting your business are is it hyping up your business is it is it just taking

a different branch it's well it's it's it's both it's part

of what miles it might give back was part of my passion to and my wife's passion to bring people together it's

the pastor of me really yeah congregating people you know that's what we do most definitely yeah you know so

that so that's sort of my background in any way yep but I I do

think from a business standpoint when it gives me a platform and a lot of

opportunities come my way because of they see me as a trusted advisor or a trusted friend and so

you know I think I tell a lot of people if you're not good at networking bring the networking to you

most definitely so most definitely what what that's what this show is you know I

mean you're exactly but there are some people who are not gonna say okay well yeah whole podcast or host you know get

a Facebook group and get people together you know so there's just a lot of different ways to go about meeting

people you know so you and I gotta say we we we're at just about 40 just about 4 400 people in our Facebook group right

now 44 is a lot a lot of people and you started how long ago I started a little

bit over a year ago yeah so so so so that's about 4 400 people that you probably would not have met in a year

yep so so that's the power of social media I mean I'm I'm strong on LinkedIn

so I'm always on LinkedIn because I think that's for me that's where a lot of my audience is and so I'm always

posting two or three minute videos on financial success real estate how to think and then you know to your point

I just met a lot of people through Linkedin and Instagram and Facebook you know so I tell people if if you're not

using social media on some level to build your brand and to build your business I mean you're making a big

mistake most definitely so with that I really appreciate you being on here Dexter I've

really really do I know my audience appreciates it and you know I just want to say thank you

for our coming out here to Detroit so to tell your stories to share with everyone

and I can't wait to have you back to be honest so yeah well have me on yeah yeah most

definitely now we gotta arrange something for me to go to Boston because I've never been to Boston well you've

never been to Boston and then next year we're doing next next April I'm gonna talk about April 27 2024 we have an hour

our second event so I want Detroit to come to Boston most definitely most

definitely so  I really appreciate it looks like Victor said thank you

for both of us Michael said great stuff so you know we're we're doing it we're

doing it loud and proud I guess so awesome awesome thank you we're gonna do

the outro right now and I appreciate it to see you guys let's all do deals together heck yeah

there was once a day that I would pray for you I'd go and misbehave just so you know.

RET W/ Randy Stedwell EP# 15 | Team 2 Excel Let Real Estate Education guide to Build Relationships →

Hey Everyone On Episode #15 We will be Talking with the Team 2 Excel about Team 2 Excel Let Real Estate Education guide to Build Relationships, and what they will be speaking about at the DETROIT REAL ESTATE BIX EXPO This Saturday. They provide events for real estate field. Come join us this will be a great one to go over with if you are an investor and anyone looking at real estate right now. If you are joining LIVE then put your questions in the comments and we will answer them LIVE.

JUNE 3rd is the DETROIT REAL ESTATE BIZ EXPO Get Tickets Here

https://www.realbizexpo.com/DETROITRE...

This is for everyone out there who want to know about Metro Detroit Off Market real estate. We will be interviewing people every week and taking questions from everyone in the comments or they can come on video with us. we will post the link in the chat when the LIVE starts for those who want to come on video with us.

If you want to JV with me on any deals in Metro Detroit market Contact me though

E-Mail: RandyBuysHousesMi@gmail.com

Phone: (586) 307-4765

Join our free Facebook Group

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Like what do we do about is you sign a contract with someone so real quick before you did that did you

get more than 30 years I got my real

estate license and your your origin story he made an age joke the last

time we were I'm gonna I'm gonna use that Kuka you know I'm a little more strict with

what I'm I'm looking at foreign

hey everyone how's it going out there I in YouTube land and Facebook you know

we are here for another episode of real estate talk with Randy Stedwell now

this is of goodness is out of the norm you know we are here on on a Thursday so

on a Thursday here we are here to promote it this event this Saturday

as well and in order to help me do that we have the the people who are putting

it on the great people are called the Team 2XL all right so they are local

here they have office in Southfield but they do other cities around the

world and I'm around the US and to help bring that all together and explain

more about who they are what they are I have lyric

Patrice Wendy Raven and with Raven is

also Miranda I believe is that right yes Miranda Miranda alright so 

first off thank you for joining me thank you for coming on and we're going to try

to do let's do it like this here we go so we're gonna come on here and I want

to know first off Wendy thank you for coming back on here you are here on on

Tuesday with us I really appreciate coming back you are part of this 2XL team and

it it sounds like it's a great team at least from what I've heard from it so

now I don't know who wants to start off but give me the background of two a

team to Excel how you guys got started where you guys got started and what was

the origin for that who wants to start can I

yeah of course go ahead okay thanks for watching

would like to welcome to excel

Calhoun and Miranda and Raven welcome there welcome everybody

awesome thank you thank you Wendy

all right so we're going to jump in on answering that question for you yes so yeah so 2003

it was actually at that time it was myself in a group of

summer entrepreneurs that we were all in real estate we were all investing

and we were all either in real estate or in the stock market and we came together to form an

organization that would Empower people to learn how to use real estate in order to create wealth for their family

so that was in 2003 in the basement and from that point it began to

evolve into different models and

different niches along the way because the industry crashed in 08.

so we ended up focusing on our events and marketing side and just been you know one thing

after another but it's always been based in empowerment empowerment this lovely

team here has been with us over the last really the longest person

on the team here we've been together for about eight years inside this

particular business model so you got eight five and three and two yeah so in our 14 we

got more teams not here's some who are members but this is our core team and we've been rocking okay yes

yeah and I want to say also you know thank you I mean you guys are on your

way to Detroit at the moment so you're here coming for Saturday's event and it

is awesome you guys are on the road and you're taking the time to be on here so I gotta commend you for that you know

and thank you for that you know and you know it just shows you guys

this dedication to come here now Wendy we already interviewed you and we already know that you're already in

Detroit so you know you got the shortest commute right absolutely

exactly so so Laura you said basically it's it started by a group of people

helped empowering for education is that right yes is that in real estate or is

it in just all off forms who is primarily

really but there was also an entrepreneurship component to teach business

got it so that that is really awesome now

are you guys doing anything you're just teaching anybody who comes to you are you guys like how are you educating

people to be able to do this are you putting on classes in different cities are you or in in that City like how

did you start off by by doing that

thank you I yeah I think I can I think you might

be on mute but yeah all right can you hear me now

yes okay great thank you Randy

no of our events we've been hosting events for since

2003. Lorraine started off in empowering people with information in in resources

in the real estate industry and actually actually transfers itself over into life

and also into business because you know in order for you to be successful in anything

you have to have your mind right so right we incorporate a lot of principles into our education not just information

but also where are you at personally capacity

so that's how we do that okay that's awesome so you know

basically how do you say how first off you know you're driving thank you for

for you know even responding to that I really appreciate it so signal does come

in and out so please bear with us we're doing the best we can but you know with that being said

like you know how do you take somebody and if and if anybody here anybody out there who's watching has any questions

put them in the chat we'll answer them okay now if how do you

how do you tell whether they need to go to the next level how do you get them to the next level what's that process like

overview is fine yeah yeah so we have a process called the 90-day challenge we'll be introducing

that this weekend the e-pro the real estate Pro 90 Day Challenge Ebro stands for

entrepreneurial professional and okay it's a step-by-step process with a lot of accountability weekly

calls hand holding but also accountability to make sure that people start off with

an assessment to see what their strongest strengths are what people see them doing

the most what are the most passionate about because a lot of people get in real estate they just jump in based on what the last person is doing let me 

myself if it's over 20 23 years total but this business 20

I know that you can jump in two feet but it's something that you have no passion

you don't have the desire to build your skills in that area and you may like you

don't you don't love sales at all but you got into wholesaling keyword was selling so then you wonder why he's not

working for you when you could have took those same administrative skills and start a property management company if

you've been just as successful you know or Hands-On skills to start a contractor business and still be in the real estate

industry so we do an assessment we use that assessment to guide them into a

point that they have a niche and a focus and then we take them through 90 days of

various activities and trainings to allow them to build up that business

okay and focus so Brandi asks do you do you all have

monthly meetings we do have

monk in every Market that we go in with our real estate business expo we launched 30 days later a monthly meeting

to keep people inspired to continue so windy in the corner up top there is

going to start the monthly meeting there in Detroit area

it'll start at our office and then it'll go to a local venue

and we have a meeting every month in Cleveland that's every second Thursday of the month

and those are called Real Estate Investors Association meetings okay we're going to be soon altering

the name a little bit but it'll be real business Network meetings or something in that nature but but yes they'll be

in every every city that we have an event got it so yeah and you know just Brandi

I don't know if you're part of our Facebook group Metro Detroit off Market Real Estate Group you know as I see

them I will share them to the group as well

I help them put them on yes as we go as we move forward I will do

all my best to help anybody and everybody I can so and that's what I try

to do so now with that being said okay so you come to each market and

you're doing these business expo these Expos and that's your kind of launch into that

city is that right and now you're you're doing monthly meetings into that

yeah so you're you're taking you're taking over markets basically like you started off with Cleveland did you do

Charlotte yet Raleigh Raleigh

next stop in well it's not our next stop Houston is the next stop November

Raleigh is in November so awesome and ah Brandi said yes thank you and yes I am

awesome I'm glad to have you part of the group so we will we will put that on no

problem I always like people who who come and watch on YouTube but they're still part of the group you know so

gross the channel now again anybody who is watching please if you have any

questions put them in the comments here you know but we'll continue to go move forward I I like the fact that

that's kind of your you know this this Expo is kind of your your launch into the into that that market that developed

you know and so are you are you guys looking to do fix and

flips are you looking to just be like mentors are you looking to just to help other people funding wise or bring all

those people who do those those things to help other people like tell me a little bit about that process

Raven you want to jump in well I can speak on one of the programs

that we have which is called Target program yeah it's a wonderful

program it's to educate women on the basic industry of real estate by empowering them with the tools

that will enhance their skills and put them in a position where they can

employ them and what they've learned and also be able to increase the quality of

life for them and within that program There's an opportunity not only to learn the industry of real estate but to

actually become a homeowner through one of the other programs we have which is called launch homes where

it's basically your home your way that's awesome so not only are you

looking to help investors but you're also looking to help potential homeowners

yes yeah right that that's awesome so so with that that is that is really

cool I've never seen anybody out there doing that so there's a lot of

different programs out there now I do have a question are you guys a

are you guys like a licensed agent as well

so we have one license agent broker which is Retreats on our team our team

okay and well we have more in our in our network but but routine Patrice is the

broker okay so she had the same thing that has to do with that side

and then Wendy is the investor side especially when it comes to Detroit area

so and I do want to answer one and one thing to your question there is that we

are there to develop but we're mainly there to inspire other people to develop

because a lot of times people just need more help in proving their own

communities so if we do something there it's usually going to be with someone

versus coming in and saying oh look look at all this territory we can just take up all this property and buy it and fix

it and create wealth that takes back to our community it's really the option we're coming to inspire the Detroit area

the Cleveland area the Carolina areas for people to wake up and

then of their own Community because they know

it best right so most definitely and I think that

really does come by transparent you know it comes through transparency it comes through by what you're doing and what

I've noticed is just from me doing wholesaling is that you know people want

you know they want the houses to be fixed up they want the houses in the

neighborhood to to go good they want a nice safe area because if you have too many run-down houses vacant houses

things like that all that does is bring danger to the neighborhood you have squatters you have you know people

who like to use them for drugs and things like that and you know no one

wants that around their kids it really doesn't you know so if you literally buy

it or wholesale it to an investor who's gonna fix it up and then rent it out and

put a nice family in there the whole neighborhood behind you you know and when I go to a new house say in

Detroit where I'm wholesaling the property okay and when I'm going

there I'm wholesaling it and I talk to I talk to some of the neighbors sometimes hey how you doing how's it going things

like that and hey this is what we're doing and working with investors to to see about fixing up the neighborhood and

and they're thanking me you know and now while I have this property under

contract I'm getting their number and I've had people hey did you know that

somebody's over at that house right now you know oh yeah yeah that that's one

of my contractors I sent them over there or if I didn't send anybody over there oh crap thanks for letting me know I

gotta get there and and make sure there's nobody's stealing anything you know so

so getting to know the neighborhood and the neighborhood liking you really helps

so I gotta Gotta Give a good shout out to my man Khalif Williams over there

he's he's on YouTube watching I sorry putting those fire Emoji Emoji there you

know love them he's actually one of my one of my friends that I do a lot of

JV deals with so I'm happy to be with them so but now

so tell me what you guys are so that's kind of how you got started a

little bit of what you're doing now kind of tell me more about this event that's going to be on Saturday and your

guys's words I I've gone on about it a little bit on on what I think is going to be there so tell me a little bit

about the structure what we're going to see at the event so that we can get a little bit more excited to get more excited about it

Wendy

so our event that we're having this Saturday is going to be simply amazing

we have some serious Heavy Hitters that's coming in and I am super excited

I'm super excited about the team that's on his way here and so we're gonna go down there plan and set up everything

for this Saturday to give you a little tidbit if you

have a deal and you need some funding you definitely need to be in the building you need to bring your deal

there and we have some funders just flying in to possibly assist you with your deal

if it's feasible and stuff um that's what they're flying in for so again if

you are a contractor somebody want to get into real estate if you're a realtor

you definitely want to be at our event it's our first event here first um putting the real business expo it's

our first event here and we will start doing it every year so and each year we're going to have

different um people maybe some will return but it's going to be a really really nice event we got a a awesome

lineup so I'm looking forward to seeing everybody coming now to our event

so how is it going to be set up is it more of like a round table or is it more like in different rooms set up and I

know me and Lil Rick talked a little bit about it but I'm trying to tell everybody out here about it so

um you know how we're going to come into the event are we are there going to be different Boost Set up different places

things like that yeah

yeah I could jump in on that yeah yeah so we're going to do

okay sorry I I didn't hear you at all so say that again I just heard yeah right so we're going to have one main room the

main ball okay Crystal Ballroom of DoubleTree yeah the the main stage

oh can you hear me okay now yep yep so we're gonna have the main State presentations talked you know just

different things that are going with different speakers for the first half and then they'll be networking in

between and then afterwards there's going to be what we call

real estate table talks where people will be able to go around and sit at each table where

the speaker at the table will be able to present and interact and answer questions

on the topic that they're on each table will be labeled whole selling funding

title business credit all those different labels and you rotate every 20 minutes

to sit with someone different so you can be able to ask your questions about eight people to a table maybe nine 

and it's just gonna be just Mayhem information a lot of synergy a lot of

instruments exchange where people can get

where people can get in the you know right like really get into it

because with the actual speaker saying versus it being so presentation like that you leave out of there with

information overload I want you know people will be able to write notes in their booklet everyone's going to be

given a program guide so they can actually write notes inside the program guide as they're talking to people and

things of that nature that's awesome so and and just to let everybody else

know I'm gonna be there talking about wholesaling beginning wholesaling and things like

that and anybody who does show up and as interested in that I'm giving away

a few of my contracts for people to start so beginning wholesaling I'm giving away

a purchase agreement and an assignment agreement okay those are the two main

things that you're gonna need when you're starting so I'm giving those away two people who are interested and

you know who is going to be at the event only the people that's going to be at the event so

absolutely awesome so yeah so with that we are gonna have 

you know it's more it sounds like it's gonna be more of a big room people getting to know each other and the

biggest thing that I want to emphasize to people is is this is where you

network and you meet the people because even if you don't have a deal now you meet the people you talk to them and you

get to know what the people are there that what their buying criteria are what they're looking for so that when you

come across a deal you can think of them first and and sometimes you don't even have to do any marketing

you just sell it straight to them you know so coming from somebody who's done that

quite a few times it's really nice when you don't have to worry about the the buyer

when you're coming on the sales part so you know I really really think

about that now network with different people get to know everyone has different areas that they're

experienced in I think the biggest the biggest selling point of this is is

this is if you have deals that need funding I mean and you can

bring them there and get funding like it's crazy bring them there pitch your deals okay pitch your deals we talked to

the Kevin yesterday who is one half of the the funding partner I you know unfortunately Damon Damien had some 

you know technical difficulties getting on the show so we're only talking to Kevin but I you know they're there to

listen to the deals and see if they can help you fund them you know and that's what they're coming in and if you can

get that like that's the hardest thing is to find funding in our area Okay

because a lot of people have minimums you know and you know they have like a

fifty thousand or a hundred thousand dollar minimum and when you're talking about me and Wendy were talking about 

the other day where she bought her house for twelve thousand dollars you know like it's crazy where in the country can

you buy a house for twelve thousand dollars well here that's right you know exactly you know so

when you have a house that well you know what we need to pay twelve fifteen thousand dollars for and it needs about

75 000 worth of work and the ARV are about 150. A lender is going to lend on

that all day long you know so you know that's where you're gonna

you're gonna look into this and that's where this expo here is gonna come in

handy for anybody who wants to join who wants to go in so

you know tell me let's go through the team and tell me a little bit about what

your guys's role in the team and what you guys do so we'll start off with

let's start we'll go backwards we'll start off with Raven first

hello again this is T Raven Harris Houston out of Cleveland Ohio I sit in the chair of her management and

also on the event awesome awesome and and what so you're on the

chair sitting on the events team so you're help putting on the events as well as your how do you helped do that

program that you were talking about earlier as well yes okay awesome and then let's hear

from Madrid that's right next to you as well [Laughter]

Rhonda I am so sorry I'm horrible James by the way sorry about that

I am the administrative consultant so I assist with 

members science I assist with all events as well

okay that that's awesome all right and let's

go to Wendy hello everybody my name is Wendy Barber and we have our 2XL office here in

Southfield and I helped put on events as well and I run the 2XL office that we

have in Southfield which we're going to be putting on different events there starting next month we're gonna have several monthly meetings there is

Southfield and other locations as we grow I I can't wait to be there

you know we have a there's another Southfield Meetup that we go to it's the

first Tuesday of every month it's Renegades okay I've been there before

yeah so that that's an awesome place just just don't coincide it with that one I have to unfortunately

I like that one so okay alright

so we'll go to Patrice

of the chief operations officer and all the day-to-day stuff with the team any training on our

backup on our systems our you know our tools that help set up all of our events all that good stuff everything that

helps to keep the engine running and keep Mr Calhoun going as well so

that I do on the team awesome and then we'll go with lyric

all right so I am the coach I am the marketer I focus on making sure that we

have a brand that we're pointing in the right direction with it and the the

events that we pull together all the components that that make them up I kind of work to

design those to fit the industry they were pointed in which is real estate and

like I said on the coaching side I work with our clients to help them to be able

to grow their business and my main focus right now is not necessarily

as much as the clients that are trying to do the fixes level but the speakers that are going to be on the stage are my

clients I'm supporting them and getting their products to you all or to

people out in the community okay awesome and how do you so are you

the only coach on the team do you are do you have more questions 

now everyone on the team actually wears a coaching hat in their area of

expertise So Raven is an actual life coach she also

teaches and runs the youth education program with the organization Wendy was

pretty bashful and not sharing that the rumors she's in right now is one of

her properties one of her launch homes is she developed in Detroit and she

teaches other people how to set those homes up and also how to be able to so she coaches them into being able to

help them to you know either get into the group own business and then Miranda

helps and coaches people with the back office and when it comes down to administrative

tools how do you manage your business on a day-to-day basis with the administrative side so whatever each

person is doing for the company those same skills are the skills that you hear them teaching and holding

accountable when we're working with clients most definitely so

so finances things of that nature that's awesome so I am

I'm very glad that you guys are doing this because I actually had like for

the longest time I I've always had a an idea and this is the reason why I've

started actually doing YouTube you get my story out there do what I'm doing and I want to help as many

say young entrepreneurs as possible because one thing that we never got taught as a kid going through school is

entrepreneurship and how to handle money okay and you know the thing is is that

there's such a lack of Education out there for the people going up that they

think no no offense to anybody who thinks this but they think that the government's going to take care of them all you know

that no matter what happens if something goes back the government's going to take care of and that's just simply not true

you know when you start relying on the government it it's going downhill very fast

because they're and no offense to anybody who is but in my experience the

government is only out to get their voters and get just enough

to get your vote and that's it you know to do just enough so

you're never going to get ahead by relying on the government ever okay you can take that to the bank

period so I you know so with that I really like to hear like

I really like to educate as many people and that's why that's why I'm doing this YouTube

channel as well and doing my Facebook group and that's why I tell people I'm an open book you want to ask me ask me

anything I'll answer it for you no problem I'll give you my personal opinion you know

you know and I'll try to back it up with as much evidence as possible okay but I I'm and I'm not gonna lean One Way

lean left or lean right by any means I leave politics out of it okay I'm just being completely honest like you know

business is business and you gotta treat it like business so the more we can teach young

entrepreneurs how to handle money properly and how to

actually think like an entrepreneur not think like an employee think like it you

know think like how can I replace myself and still make the same amount of money

yeah and it just keep coming in you know so one of the books that changes much

changed my life and probably changed a lot of it even probably one of you guys or all of you is the yeah I call it the

entrepreneurship Bible Rich dead Poor Dad yeah so

that was my favorite book and what changed my viewing in entrepreneurship

in money in all of that so I kind of want to ask each one of you what what

book helped inspire you to get on the entrepreneurship path and you know going

forward I'll start off with lyric

so my book was finished Bloodworth key to yourself

Vanessa Wadsworth b-e-n-i-c-e

okay blood or key to yourself

and yeah it was probably about

23 years old and it basically in so many words summed

up quickly know now and the Think and Grow Rich is is that whatever you think about

most that you can begin to produce in your mind has the ability to begin to

produce and attract based on your thoughts and how powerful they are and I once I understood that

concept it helped me to really begin to believe in myself

as an entrepreneur as an aspiring businessman and that just drove me to do the rest

that book wow that's awesome so you know that it

basically helped turn your mindset or change your mindset is that right

mindset or change your mindset

so yeah we're getting a little bit low signal from the Rick it's because

he's driving here so that's all right so yeah

all right awesome so let's go with Raven Raven what what was the book that

changed you your mindset or changed how you look at things

since you stole the one that I had which was

yep you know this is gonna sound a bit unusual but leaving or not the Bible

the Bible has a lot of interesting Concepts in

that when it comes to money find you know finances and even entrepreneurship

and you know some of the stories that you read and it you know if if you

really look at it it really teaches you a lot about life and it's like you know you hear these stories about you know

the the merchant the the you know the cobbler and things like that that own

you know oh

you know you know those things you know I broke them down in my brain and I was like you know what

that's when you're going to the stores and see other individuals they have their children and they're with them you

know yeah so and I'm old school anyway so that is something that I got from the

Bible and mentioned in my life okay okay awesome

so how about how about Miranda what was your book

Mr Johnson that wasn't for who Moved My Cheese

who Moved My Cheese correct I believe okay Mr Johnson

that I think that book was inspirational and

reminded you not to get stuck and okay sometimes you're just a regular

employee you just go to work you

and it was to make you be able to sniff out and see when things are about to change or move and I took it as

should not always get stuff done when things shift life shifts yeah

knowing how to see it coming and make adjustments and keep moving just keep

moving and go find your new kids okay that's awesome so yeah I really appreciate that and 

you know that that sounds like it's a really good book I I'm gonna have to start writing it down

okay you can read that quickly it is powerful

it's a great book I think young people awesome awesome so I so we'll go with Wendy Wendy

what do you what book helped change your mindset on

financing investing to get you away from the employee mindset

so actually it wasn't really a book I were sitting on the couch one day

watching Oprah back in the day in 1996.

so yeah so we started a cleaning service

so good job I really didn't like the job that I was going to and I decided that I

want to be an entrepreneur and I've always wanted to be in real estate but I started off with the cleaning services

and I was doing residential and then I start to do commercial

and then I started investing into real estate you know houses and and other

stuff so yes but it was watching Oprah Winfrey I'm talking about entrepreneurship in 1996

that's awesome so so yeah that that's really great and it

sometimes it doesn't have to be a book you know honestly it was hard for me to

read books growing up because I actually have just dyslexia and you know I don't

know a lot of people don't know this about me is I have dyslexia with

Reading Writing and comprehension so the reason why is it takes me forever to

read and the reason why is because I have that's how I comprehend if I read it too fast it just it's in

one ear and out the other you know so I have to slow it down and some people

even get mad at me for how slow I read but that's how I absorb the information

and unfortunately it also puts me to sleep too so

so I like a lot of audio books nowadays but Rich Dad Poor Dad was the book that

I read Hands-On so that was awesome so Patrice what about you what book

helped change your mind your mindset you guys may not have heard of this book

I'm going to share it anyway it's a secret I didn't want anybody else thinking about this book okay here we go

it was a book of life so throughout my journey in life

I've held several positions in Corporate America and to your point Randy earlier

when you were talking about the government how you know when things happen and

things shift employment all of that can go away in a in a

blank so that is what I experienced in 2008. my first chapter in The Book of Life

at that time I didn't know what I was gonna do I had two children I was I was

laid off and mortgage you know how am I gonna survive

so during this time I had the idea of hey I love to organize

and clean why don't I go and clean someone's house just for a few extra bucks

yep but that started happening reached out to some family hey can you help me out I

can clean your home that started a journey like oh I can really do that right

long story short on that one is that I couldn't bear all of the work because it was just too much for one person so I

looked into something else so led me to my second chapter in a book of life

that was my kids at that time they went to a school system that were just

transitioning over to school uniforms so I found that

normally after the beginning of the year school year you can't find any students

so my entrepreneurial thought at the time and I really didn't know what it was but again trying to survive right I

said why not start my own school uniform business so that is what I did it was online I

talked to the parents at the school hey I can get your kids some uniforms cash on delivery and that is how that part

started now of course I didn't believe in myself enough and right at the moment I got another position

so I kind of let all of that go but that was my first two chapters into the introduction of my entrepreneurship like

The Book of Life yep that's awesome and that's one thing that

I I see this this whole book of life that you're talking about it it truly is

it's based on decisions that we make you know I'm not trying to preach here by any

means but the the the the decisions that you make create who you are for instance

you just said you didn't have enough confidence in yourself to continue on that business so you made that decision

as soon as you got another job offer you took it you know and I I had the same

type of experience I worked on a cruise ship as a photographer I came off that

cruise ship and tried to make it on my own as a freelance photographer and as soon as the opportunity came up

for a staff position for somebody you know I I took it because I didn't I

wasn't getting enough clients coming in I didn't have enough confidence in myself mainly my pocketbook couldn't

handle it so but that's right and it still happens today yeah that's part of

why we have the passion to do what we do is because we help people to continue to write their book

because there's going to be High pillows and everything and with our event Saturday all of our events we have

people that are passionate about giving information and help people get to the other side of these moments because they

are naturally going to happen so that is why I'm here you know that's why I was

drawn to the organization in 2015 and I fell in love because you could

you could there was no feeling to how you can help people and so that is why we're on this

journey and we're going to continue this journey because people need help I don't care if you're post selling your real

estate agent you're a mortgage broker it doesn't matter what position you hold at some point you're going to need some

help you're going to need some support and what inspired me in this part of my my life is being around people on that

lyric he was introduced into my life and I'm so grateful because he was able to

say no you can do this you can and so with the right coaching and the right

support being around like-minded people you can actually achieve your dreams you

can finish that book so that is why we do these events I don't if you're just

starting you want to scale you want to grow you want to take a different direction in your business we can help

with that so I just wanted to share that passionate part of why I'm here why I do

with the organization and you know and I I just can't stop yeah most definitely and this is one

thing that I've learned throughout my book of life myself I'm 39 years old

this is my I've gone through three careers this is technically my fourth career and you know I will say this if

you're doing something you're passionate about whether it be on the side whether it be your main gig whatever you will

never do a day of work in your life okay and the money will follow like it may

not follow right away this is what I had to learn I had to learn a trust in the process the money if you're consistent

and doing the things that you like to do and but you still have to have an

entrepreneurial set mindset okay like for instance me giving this stuff away

is it it everybody's like well why can't you just you you can sell those contracts easily yes but I want to help

people first the more I help people guess what they're gonna bring me deals

and want to JV with me whether I give them my contracts or not because I have no knowledge

so in the return I'll get more out of it you know that's how that you know when I put

stuff out there when everybody put you you put good out there you will get 

you will get returned ten folds it may not be right away but you will get returned and I you know

you can't but you can't go and you can't do it with the expectation of getting a return okay if you go in there every time and

expecting a return right away you're going to be disappointed

that's what I've noticed and hope hopefully what I said just made sense so

all right so so we're coming up to the end here and I kind of wanted to know

what is your guys's future obviously we know a little bit about doing the

monthly meetings going off to different cities and doing the same thing what is your guys's future and how

can people from our channel here help you guys move forward

jump in don't go all at once

the future is to continue to Empower those that are empowering people

like yourself people that are are going to be able to Stage Saturday

so to give them the support to give you all the support that you need the encouragement

to go out and do what it is that's on your heart what's in your purpose what's in your gift

to continue to do that is our work the movement that we have going right now is

called one million empowered you'll see that on the flyer

every person that we see at that event is going to be deducted from that one Million number

you know once we've touched a million people with our events our you know shows like this now of course we can't

count each one by one we get a good average of what's going on but the more we get

the word out there and the more people we touch the more the world we become more self-sufficient they'll understand

that they can do for self as my mom always shared and that if they just

believe in themselves that they can create whatever World whatever life they

want to create as this world change into more technology more artificial intelligence

more robots robots as it becomes that people are going to

need to know that they can win and so you're going to continuously hear us in this space teaching people how to

excel using the same vehicle real estate because it is such a powerful vehicle we

didn't just choose a money-making vehicle we chose a vehicle that no

matter which way you start and whichever angle you start from you can make money in real estate you can start off by just

sweeping somebody's front yard you say I only got a truck with a couple dollars worth of gas or you can charge somebody

to go pick up their Home Depot equipment or tools you say well I don't have anything including a paintbrush but I

painted before but somebody could get the paint kit tell you to meet them at the house and paint for them so you

literally can do every time one house transfers over a hundred different careers are impacted by one house

transact so our vision is continue to use real

estate and empowerment and events to be able to bring about people with resources tools and accountability that

they can build their cells themselves and their family you know in a different life

through using this vehicle so we just you know that's that's it you

know have intangible offices in different cities different individuals the team to excel Network being even

larger you look up and next time you can't even fit up all those streams all right it'd be so many teams we sell

members right you know so that's that's just a little bit about

field of where we're looking to go that's awesome and you know and just let

you know anybody who's gonna be at this event you know get to stop get to know

these people like you know everybody that I have on here you know great

people great energy and the people who are not on here you know you know

they're they're gonna be great and get to know people get to know who they are get to know your buyers out there get to

know the people who come to the events as well so that's the biggest thing is

you know that's why they put on these events is to network network network

if you don't know how to network with somebody just talk that's it

you know just just talk get to know each other make sure you take people's phone

number down email addresses names and follow up with that person you know and

go from there so see what they want what they're looking for especially if you're a wholesaler see what their criteria is

and you know what in in some cases if you're a brand new wholesaler you're a beginner wholesaler and you get to know

these buyers and they tell you their specific criteria now you can Niche down

your list to those that areas and as soon as you get a deal take it

right to them you know so with that being said I really want to

say thank you to everybody who is on here thank you Patrice thank you Rick

Wendy Raven and Miranda

hopefully I said that right so yeah so and thank you all I really do

appreciate you guys coming on one last thing before we go we're gonna I'm gonna

share my screen here okay and we are going to show you exactly how

to purchase tickets this is the website this is this website is in the description below okay in the

description below you're gonna go down here you're gonna purchase tickets now okay right now all the free tickets are

gone okay it's past 100 people there's this general admission but this is general admission for two for 129 I

think is a great value but we do have an extra you know only 50

people at this price is a discounted price at the moment for 49.99 for one

person okay it's a discounted price I I think that's a tremendous deal so

go ahead and you know check that out and we can kind of

you know those are the the tickets and you know hopefully we can

sorry there so you know get your

ticket now for this Saturday if you haven't already got it and you know hopefully the traffic won't be too bad

with the with the Grand Prix in downtown Detroit hopefully we can get through

so that yeah but I I'm gonna be there we're all gonna

be there I'm gonna be covering through my event I may not be going live obviously but I'm going to be doing

video recording all throughout the event and then we're gonna put put together a montage of the whole of the whole

night and it will come out on our Channel later on so I really do appreciate it thank you lyric for

reaching out thank you everyone for coming on here and I cannot wait to see you guys on

Saturday thank you

thank you you guys have a great day have a great evening and drive drive safe you

guys are driving on your way up here to Detroit drive safe please all right thank you all right thank you good night

Have a good evening you too everybody good night.

I had a No SHOW on REAL ESTATE Talk With Randy Stedwell So we talked about WHOLESALING & My TIPS. →

Below was what it was supposed to be but we had a no show so we talked about my experience with Wholesaling. & answered questions.

Hey Everyone On Episode #12 We will be Talking with Syed Mohsin Founder and CEO of Real Estate Sales Machine. We will talk about how he got started and his secret to success in real estate. We will also get his take on the state of the market. Come join us this will be a great one to go over with if you are a investor and anyone looking at real estate right now. If you are joining LIVE then put your questions in the comments and we will answer them LIVE.

Syed Mohsin is the founder and CEO of Real Estate Sales Machine, nicknamed the “Success Broker”, he's generated over 50 Million in sales before turning 30 years old.

Associate broker & Owner of 2 teams at world's fastest growing brokerage, Starting from scratch in 2014, Syed made his first million in GCI in just 3 short years. Over 150,000+ leads and clients have joined our business database

Syed has one of the best track records in this industry and has created 5+ 7-Figures Brokerage and 100's of 6-Figures Agents.

http://thesuccessbroker.co

This is for everyone out there who want to know about Metro Detroit Off Market real estate. We will be interviewing people every week and taking questions from everyone in the comments or they can come on video with us. we will post the link in the chat when the LIVE starts for those who want to come on video with us.

If you want to JV with me on any deals in Metro Detroit market Contact me though

E-Mail: RandyBuysHousesMi@gmail.com

Phone: (586) 307-4765

Join our free facebook Group

www.facebook.com/groups/metrodetroitoffmarketrealestate/

www.YouTube.com/@randystedwell

www.instagram.com/RandyStedwell

www.twitter.com/RandyStedwell

So real quick before you did that

and your your origin story like how did you get into is that he he made an age joke the last time we were I'm

gonna I'm gonna use that kooka

thank you

so real quick before you did that

and your origin story like how did you get into is that he he made an age joke the last time we were I'm

gonna I'm gonna use that Kuka

hey everyone how's it going out there in YouTube world and Facebook as well

so I just want to welcome you guys to episode 12 of the real estate talk with

Randy Stedwell my guess is actually running a little bit late so what we're gonna do is I will introduce him a little bit but if you have any questions in the

meantime putting in the chat I will be happy to go over whatever

whatever you guys want to talk about today as well as throughout our time I

if you have questions put it in the chat as well so one thing I did want to

say is that you know I also do help new wholesalers out there so if you are a new wholesaler and do need help trying to lock up deals or just need

advice or anything like that by all means hit me up you my numbers my

numbers right here at the bottom right there and I you can hit me up we can get on a video chat something like that as long as we can record it it's free of charge so as well as if you want a JV with me or anything like that I happy to

work with you and you know I'll give you my opinion now my opinion is not God by any means

it all I do is listen to what my buyers say in this area

have people bought higher have people bought higher than what I

think yes but I go by seasoned investors who I

sell to and I listen to them as much as possible so if you want advice or

anything like that by all means let me know I also do have a network of other wholesalers so if you are looking for

certain properties give me your criteria and maybe I can find it if I don't have

it I can at least network with other wholesalers and maybe they find it we can JV so I'm happy to work with anybody

who wants to work with me and I kind of go from there now am I

coming off as a guru who knows everything on here no I am not I am

coming off as this is my story this is this is what I'm doing I'm just

interviewing people and guess what I'm doing it at my own selfish reasons

I'm sharing it with you guys but you know I'm meeting these people for

networking purposes because I eventually want to do deals with them so I you know

side he is a real estate broker he owns two

teams of real estate agents and they were world-class people and by all means

I want to do more business with him so it is actually kind of selfish of me to bring him on here so I'm trying to tell

my story go through the product go through the the purpose I'm in my third year of wholesaling okay I still do it

part-time I do have a full-time job you know I'm not sitting here chat

the one telling you to go quit your job to do wholesaling it's not that I'm not

telling you that because I'm not doing that I actually like my day job and I'm using wholesaling to end up being my I

you know I want to get to the next step so wholesaling is not an end-all be-all

and so I'm looking for the next strategy and the next and then the next

so that I can eventually retire on you know when I do and I'll still be

financially free so with all that being said again anybody who is just joining us if you're

joining us from Facebook if you're joining us from YouTube put in the chat if you have any questions on my my host

is actually being a little bit late for right now and I do apologize

you know but in the meantime we can chat a little bit more from you

guys so please let me know what you guys want to hear I actually want to know from you guys what kind of videos do you

like if you're not watching this in the live if you're only watching this on the replay put comments put a comment in

there what kind of videos do you like coming from me if you want to learn more if you want more videos what type of

videos do you want I'll try to get more of those out there time permitting I still am running my wholesaling business

as well as well as working a full-time job so you know with that being said

you know any anybody listening please let us know I will I'm going to

go through some of the call some of the calls

that I've gotten recently on the list that I've done

Tire landlord lists I've done some tax 

it's a tax lien lists things like that I'm finding the tax lien list is is a

lot better not as they're not highly good not highly

motivated but they are at least a little bit motivated the entire landlord list

is not all that great and you know they're just like okay if we

get the high price great otherwise we're just going to keep cash flowing so in my opinion in the market we're doing

right now if you're wholesaling or trying to do marketing stay away from the tire landlord lists

you can hit it every once in a while but I think the next thing I'm also

going to end up going after and I've done it before is maybe some water shut off lists some government lists things

like that so tell me in the chats you know what you guys think about those

you know what what are you guys doing for your marketing I'm personally cold calling well I'm not personally I

have a VA who cold calls for me and I eventually once we get enough

marketing dollars together I eventually want to have do some PPC which is stands

for pay per click SEO things like that maybe some Facebook ads

things of that nature so you know what are you guys doing for

if you're a wholesaler what are you guys doing for your for your Clips what are you guys

doing for your marketing please let me know I'm happy I'm interested in

seeing what you guys got to do I went through my follow-ups today you know on

average how many people are how many times are you contacting a person before you actually get an appointment

you know your money is not going to be in the first initial call or the

second or the third it's going to be in those follow-ups somebody raises their hand says okay I'm interested you got to

keep following up with that person so even if they don't answer so I've I've

had it where I've contacted somebody I I contacted somebody 15 times before I

even got an appointment so it's crazy but you just gotta keep

doing it that's how you make the money and and qualify qualify qualify

if the ARV is only about 230 000 and they want three hundred thousand

obviously that's not a good lead all you do is follow up with them or follow up

with them ask them if they have any more properties that might be a little bit more distressed that they're interested they say no you move on that's it okay

if you want to follow up with them later on great but they're not going to be that motivated so

hopefully that's helpful to you guys I really do hopefully hopefully what

I am saying is helpful these are from my own personal experiences

and all I'm doing is try to share my life with you guys so you know with that I you know anybody

who is definitely interested in

anybody who is interested in coming on the show you gotta be on time sorry

but yes I you know this is the first time I've had somebody actually

late to the show so you know I so with you know anybody

who does want to come on the show please do message me I'm happy to have anybody who does

want to come on the show to share their story if you are just showing just having

your first deal I'm interested in knowing how you got started what you did things like that so please do reach out

to me whether you text message me whether you send me a DM through

Instagram whether you send me a DM through Facebook doesn't matter you know also if you are in Fate on

YouTube check out our Facebook page Metro Detroit off Market Real Estate Group okay

we are there we're we have almost 4 000 members right now so I think it's

getting huge so my goal by the end of this year was going to be 5 000 I think

we're going to hit about you know maybe six or seven hopefully so

I think we're gonna obliterate that goal with that being said we want

quality people in there who's going to post deals or at least ask for

assistance and that's the good thing about our group there's so many experts in there by all means post what you're

looking for okay post what you want and you know we can all help help each other

out that's why that's why I made the group and and that's where I want to succeed I just do not post anything on

or real real estate unrelated you know I am please let us know

if there is you can go ahead and report it I'm the only admin so I'm the only one that'll let you through and I'm the

only one that that blocks or reports you as well as if you post

duplicate posts we will I will delete one so please don't post duplicate posts

okay with that being said I let's see I

here in Michigan at least they were starting to get nicer weather in my opinion nicer weather means more

people is going to want to sell so they're they're look they're going outside they're walking around maybe you

know they're working on their yards you're like hey you know maybe I want to move or maybe I want to do something I

don't want to do the maintenance the spring cleaning or anything like that so they might be they might be more

interested in selling so you know with that being said I 

think we're only going to go for about another 15 more minutes and if he doesn't show up then unfortunately we're

gonna call it quits and if I don't get any questions here

me trying to message him as well and it looks like he might be a little bit busy

so anyways I so anybody has any questions

post them in the chat happy to work work something out with you guys and see

what we can do from there if you want a copying video or if you want me to cop

a property hey right now I don't got anything to do so post post the address in the chat and

I'll count the property the way I normally would so I'm happy to do so as much as possible you know hey Holly

dentry how you doing so awesome man alright awesome girl I'm doing really good

I'm trying trying to be out here and doing what we can so

you know again if if you do want me to comp a property Detroit is very hard to

comp if you are not from the Detroit area and you were doing virtual wholesaling okay make sure you talk with

somebody who is from Detroit or you will go back and watch one of my Compton videos okay I do have it it's probably

towards the beginning of the year it was one of my lives that I did do it by all means Detroit is a very it's a

you know it's a block by block area and you really really have to understand

the copying there so now Metro Detroit you can do a little bit more traditional

but still when you're close to the borderline of Detroit it's still a lot harder so so you got to keep that in

mind you know I've also had somebody come to me about wanting to purchase a rental

I I get buyers like that all the time maybe whether they're new buyers or

or anything like that they maybe they want to do a a bird deal or buy and hold you know things like that I will give

them my opinion but I will also preface that I do not hold properties at the moment I only can give you the knowledge

that that I've gained through my wholesaling and that I gather from my other buyers okay

so I always keep keep that preface there is that I I'll try to do my best as much

as possible and I'll try to find you the best deals out there you know if I can find them great and

if they work with your numbers great but I all I'll try to teach you how to do the numbers and I'll show you how to

cover for all type of scenarios you have to include the the one thing that people

do not include is property taxes being uncapped and also the property tax is

going from homestead to non-homestead as well as being uncapped so you've got to account

for that you have to account for property management capital expenditure as well as the

initial renovation so uh Johnny gapper how you doing hi all

so happy to have you here so you know I'm again you know I'm happy

to go over this with anybody if we could do a one-on-one video I'm offering them as long as we can record it it's for

free no problem I'm not a YouTube guru by any means I'm just trying to share my

experiences in my life that's all I've worked with some of the some great

wholesalers in this area and I still make mistakes by all means I've I've

made so many man mistakes and to be all be as transparent as possible

I thought that I was going to have okay this is the month of May and my goal was to have at least two

deals per month okay and I thought I was gonna have 

you know I thought I was going to have at least 10 deals by now okay how's it

going Freddy Freddy how you doing nice to see you you're on that's Freddy off of Facebook there

I thought I was gonna have 10 deals by now and unfortunately I only have one

that it's been lingering for it was lingering for a long time

I gotta I I really gotta thank Todd Chun for getting to the closing table with me

it was a hard deal by any means we had about three four buyers back out you

know and we still kept going so that's all about the only way that that work that type of deal works is if you have a

good relationship with the buyer or with the seller sorry with the seller and keep open communication okay

I try to be as transparent as possible okay now they don't need to know everything

but I'd be as transparent as possible as much to let them know what the process and how it's going and and things like

that so with that being said it it's just

how do you talk to sellers how do you bring up that you're wholesaler how do you let them know

in my opinion you know you can use words like

hey I'm working with my partners you know one of the strategies that I

use is I one of the strategies that I use is I bring them I I may pass the

deal along to another investor but whatever me and you work out is

exactly what you're going to get and you're going to deal with me the whole time okay so that's one that's one way

that I bring it up now somebody who knows what what

wholesaling is things like that they're gonna understand exactly what you're doing

and a lot of times they don't care as long as they get their dollar okay now when you gotta that's when you gotta beat them down and when you got to

beat them down and that's when they're gonna fight back okay you know keep in mind as well is when

you get a deal under contract and then you start marketing it out if there this is the reason why you have

to keep open communication with your seller if you don't keep open communication with your seller and let

them know what's going on what you're doing things like that and then you get say a buyer who just joined your your

buyers list okay and they end up calling the seller directly not contacting you either

letting the seller know what's going on or offering them a higher bid that

you've got to under contract okay and I've had this happen to me before by

the way okay they try to snake the deal behind you well you have it under contract

and most the time you can put a a memorandum

on the property if you feel like that's gonna happen but a lot of times I've built up a

relationship with the seller that literally this the next call as soon as they get off that call they they

call me and say hey do you know this guy who he's trying to give me an offer okay

I say you know what no I I don't know him but you know what I mean tell you

he's probably not going to close he's probably going to do this you know this and that you know I'm trying to I and

this is where I keep open communication yeah I want to go with you I want to make sure that we're we're doing deal

we're you know and that's the advantage versus you ghosting the seller after you get it

signed and a lot of people do this is after it after the the contract is

signed they pretty much ghost the seller for you know a couple weeks until they have

to do a scheduling to show the property okay you want to keep up keep the seller

up to date on what's going on talk with the seller hey you know hey just letting

you know let's work on trying to see when we can get in the property or can we get a

lock box on the property or anything like that I you know I'll let you know what's going on

and you know and Fugi hopefully I pronounced your

name right sorry if I didn't yes that is Shady by all means and I really

really don't like it being I I don't like shady people I try to as soon as I

find out that somebody does that and I find out who it is they will never do business with me

again ever okay I'm not gonna sit there and go blackballing them

but I'm not gonna personally ever do business I don't care if you're the highest offer out there

I know you're not going to you're not going to live up in I I don't know if you're going to close

okay most of the time a a buyer is only as good as they're

going to close okay that's it I don't want to sit here and try to yes

I can go after your EMD deposit but it's getting harder and harder for us to even

collect the EMD deposit because title companies are just horrendous okay I'm

telling you that you know with that being said you

know we have some people here let me know what more what more videos you want

what type of videos you want to see I'm happy to work you know work something out see if I can create more of that

type of content and kind of go from there I it does not look like the

Syed is coming today unfortunately

so but I'll give it another five more minutes I will hit that half hour mark

roughly and kind of leave it from there so

alright so what what I was talking about I'm talking about strategies what

kind of marketing strategies do you guys do anybody who's in the chat tell me what marketing strategies you do okay

Holly Holly's doing cold calling Holly do you like cold calling what are your

strengths what are your weaknesses did you start it just started it are you using a dialer you know anything like

that if you are cold calling okay okay direct mail that is coming from

anik anik is my man he Direct Mail he gets some good leads in direct mail he

he's a buyer too so if you're on Facebook and you see a neat in the chat do business with him

he's a good guy all right Holly says driving for dollars those are the great

lists driving for dollars lists are great okay because guess what they may

not come up on any other list whatsoever because they may pay their taxes on time

they may pay all their bills on time everything's good but the the the yard looks long the you know everything it

might be a tired landlord who knows okay oh Holly says reverse driving for

dollars too I don't know what is what's a reverse driving for dollars hmm never heard of that one

so also it you know Direct Mail linking up

with Buyers how are you getting your buyers are you just posting on Facebook Marketplace things like that are you are

you just posting in the Facebook groups I may I'm encouraged for going to these

Facebook groups but you know I'm I'm more of the go to REI

meetups listen to these buyers and see what they're buying at you know

and kind of go from there so okay so Holly said the reverse

driving for dollars is a targeted houses I don't think that's a reverse driver

for for dollars but I think that's like just a standard

list that you now you're just trying to verify whether the houses are distraught

or not so either way if it works for you it works for you you know

one thing that you gotta look at is what works for you and

then how can you scale it okay that's a big thing is how can you scale it all

right I already know that there's a there's going to be a limit to where what I'm doing

and then I eventually will look to scaling okay it will be the next step Holly

says texting as well texting and cold calling I think go hand in hand

I haven't started texting myself but it is something we want to get into there's a lot of legality in it

there's a lot of different things out there that can a lot of different tools

that are out there that help you and things of that nature so

great I'm happy to see that Holly you're doing that

let me know you know what are your rois on those you know things like that

Johnny you said what are the some of some of the more common creative

financing techniques so I haven't done a creative financing

deal yet okay there's the key word yet

they're out there I do know of them I try to pitch them as much as possible

now with that being said probably one of the easiest to pitch here in Michigan is going to be a land contract okay

a land contract is probably the most common because

most people are familiar with it okay but you can do a sub two you can

do a just a straight up seller finance okay honestly you can be as creative as

you want and as long as the title company and as long as you and the seller can agree on

it you can be as creative as you want that's all okay

that's the key thing is you and the seller agreeing to something

okay you always explain it to this Mr seller do you want to be the bank the bank makes all the money

okay the bank makes all the money now instead of you going and collecting rent and having to take care of the property

do you just want to become the bank and just be quiet

most the time they say yes unless they have a specific reason for

that money okay but by all means everyone is different so

Holly says I'm not using anything but my scale is small and you know what

that's how you can start off that that's perfectly fine I do recommend getting into a dialer

some sort of dialer whether it be Mojo dialer whether that be call tools call

Red what whatever it is okay look into them all do your research

I personally use call tools myself I like it

I have a VA virtual assistant who call calls for me but you can do it yourself as well so

in my opinion do your homework see what's comfortable to you use a good CRM

if you don't a CRM is customer relationship management tool okay

and that could be anything from Podio it could be from call tools has a built-in one as well

you know things like that so this goodbye 2020 all right you

should really change your name if you're looking to get into real estate to something with your name in it all right

hi just getting into real estate also do you have any contract resource

contract resources for for sale by owner seller financing or and or

wholesaling for Michigan I do have contracts for wholesaling okay 

FSBo’s in my opinion yes they are a little bit motivated

you're going it's going to take some time to walk them all over things like that seller financing my contract you can use it as far as a land contract but again I have not

done a deal personally with seller financing okay so I I'm I'm preferencing

that but there's a lot of people in the Facebook group and in the chats that

have link up with them by all means if you need help contact me and and I will help

guide you towards somebody who may help you okay if I can't help you that is all

right so he also said he or she don't know

if it's he or she uh uh or do I need to have a lawyer draw them up

it depends on what you're doing I don't think you really need a lawyer or drama but I think you need to understand

what your contract says go over your contract with a fine-tooth comb okay

and that way the reason why I say that is

because who your your seller is not they may

go over your your contract with a fine true cone and they're going to bring up questions you need to have the answers

like that okay oh I don't know why that's in there oh I I can't you know

what I'll take that out or I'll do this now you're just screwing yourself if you picked up a contract from say 

Jerry Norton or somebody else through these resources read through that contract understand

that contract and understand what every single paragraph means okay that way

what happens you can explain it to the seller and hey the the easier and simpler terms

you can set you can say it to the seller the better off you'll be promise you that all right 

all right so they said you said duly noted all right highly appreciate it

Andy appreciate it no problem I appreciate you guys coming on I really do so

so it looks like he's not going to be coming on and I thank you for all the

comments by the way so if you want to have any more comments please put them in here I'll stay for a couple more

minutes now with that being said with the con I want to go back to these contracts per

se okay now how I got my contracts was I JV with

another wholesaler okay and he let me use his contracts

that's how I got my contract but I didn't just blindly use them I read

through it I I was a fine-tooth comb and then if I didn't know something I asked

why I asked what it was and if I did not want that in my contract guess what I would either take

it out or I'd replace it with something or reword it with something that that would favor either towards me or

whatever the case may be okay and with that that's the same thing with

a JV agreement that's the same thing with a assignment agreement as well

assignment or contract all right and those are the things you need as well as you need a release

all right you need a release of contract all right because there's gonna be times

where you need to release that contract because you can't sell it all right you're trying to sell it for

45 you got under contract for 35 and really and truly the the properties

probably only worth about 30. okay so and and just the seller is not coming

down so you have to release that contract all right 

now do mistakes like that happen yes they do I've made them that's how I know

all right I've made them a lot I'm still making them to this day because

guess what this Market's constantly changing all right with these interest rates that are coming up right that are

right now right now it's a little bit more consistent which is good they're

not always fluctuating up and down so much at least right now in the past couple months they've been consistent

okay they are I

your buyers are going to act similar when they're consistent versus they're gonna pull back a little bit they're

going to go towards the the cheaper they're gonna get need to get a huge a bigger discount because they're

going to need to account for the possibly the the increase that's going to come

three months down the road when they go to sell it okay basically the the increase in the interest rates which

will bring down the prices okay now if you have a good product it's going to sell and you price it

right it's going to sell but you have to buy it right they the

the flippers no matter how much you want them oh they could go a thousand dollars more five thousand dollars more ten

thousand dollars more only if they could do that they gotta stick to their numbers that's how they make money

because you know what in our market right now

you know some flippers are making fifty thousand sixty thousand dollars maybe in

the higher end properties but you probably lower end properties

and they are they're only making twenty thousand dollars a property okay

I'm making half of my wholesale fee I try to average around

ten thousand per property okay so I'm making half of what they're doing and

they have to wait three months to get it okay so you have to understand that

you know they gotta stick to their numbers that's why you gotta get them right as

well so so keep that in mind

you know if you do have any properties you want to sell post them in the Facebook group alright Metro Detroit

off Market Real Estate Group in in the in the description below is

the link to the Facebook group if you are not a member in there become a member I will approve you

and you can post all your deals there or you can look for your deals that you're wanting if you're a flipper if

you're a Buy and Hold investor also if you're not on my buyers list contact me get on my buyers list you know things

like that the reason why I may not have done too many deals because people are

locking them up way too high and they're just not selling they're sitting they're sitting and sitting in the city

and I listen to my buyers okay I listen to my buyers and I just have

to be honest with people okay so you know hopefully I've gave you at

least a little bit of value today we can you know what with side we're gonna try

for another time we'll see what happens this is the first time oh my God this

is the first time that I've ever had somebody be late all right so actually not even show up

ciao with that being said I really appreciate all of you that have

come and have watched and have contributed to the chat I really do

appreciate you guys if you are not watching this live if you are watching the replay

by all means can we still commute communicate through the chat and we can talk later hit me up with my number

right below here and I'm going to

my email if you want to do if you want

to JV with me as well okay this is my email right down below all

right there you go right there Randy buys houses Mi gmail.com all right happy

work with anybody who can and we can kind of go from there if

you are a buyer hit me up if you are looking for deals hit me up I want to

know what you're buying is what your criteria is what your limit is hell if you just want to go to a coffee and and

tell me all this information I'm all for it I don't drink coffee but I'll find something to drink I promise

you that so you know I'm happy to work out you know I I've done this with a lot of different

people I talk with a lot of different people and that's how I know the market that's how I know the area so almost

every at least every month I'm probably going to a five or six different

meetups trying to get out there get to know buyers things

like that and see what they're buying at all right so if you're one of those buyers who do not go to meetups hit me

up as well I want to hear from you too all right now if you're a wholesaler it's

pretending to be a buyer don't just don't tell me you're a wholesaler well JV will work together

hold up oh excuse me

we'll work together I'll help you out along the way if you need help locking up a deal doing anything I do

not steal deals behind people's back that's not who I am a very ethical guy when it comes to business because I want

to repeat business that's how I make more money is by repeat business okay I'm in my third year I've probably I've

done right around 30 deals since I started

so roughly all right maybe a little bit less a little bit

more right around so I think I have some experience in every deal I learned something

I've learned something new from every deal and I've had a lot more deals that

we haven't closed because I got them locked up too high the seller couldn't come down whatever the case may be so I

have a lot more of those stories as well so with that being said let's all do

deals together hit me up email me call me whichever you prefer we'll see you

in two weeks with another episode of real estate talk with Randy Stedwell

hopefully we bring him back bring Syed back maybe we'll repeat this episode and

this will be an anomaly I don't know we'll see all right you guys have a good

one let's all do deals together stay connected and that's it have a good one