Brent Daniels & Todd Toback Share How to Keep More Money & Close More Deals

Steve Trang: Hey, everybody. Thank you for joining us for today's episode of Real Estate Disruptors. Today we have two very special guests. We got Brent Daniels and Todd Toback back for round two. Today we're gonna be going about how to keep more of your money and close more deals.

If this is your first time tuning in, I'm Steve Trank, founder of the Offer Fast Homes app, the only MLS for off market wholesale properties, and I help entrepreneurs create businesses that support their family, lifestyle, and goals through mentorship. I'm on a mission to create 100 millionaires. If you wanna be on that, program, drop me a message on Instagram at steve dot trang. If you're excited for today's show, please give me a wave. Give me a thumbs up.

As a friendly reminder, I don't charge a dime for the show. I don't make any money doing this. So here's all I ask. This is what it cost for you to listen to this show. If you get value today, please tell a friend.

Either share this episode right now, tag your friend below, or tell her about Segway later on so that way we can all grow together. And this is a live show, so please ask your questions for Brent and Todd to answer. You guys ready?

Brent Daniels: Yeah. Let's get ready to rock.

Steve: Alright. Let's go. So first topic, how do you keep more of your money? What is that what is that about?

Todd Toback: Love Love it. So okay. So off the bat, here here's a here's an interesting thing that I that I get out of master writing, out of connecting, out of, just having conversations with, like, the top guys around around the country, and it's something that bothers me to death. Okay? This is what they do.

They make money, and then they pay themselves, like, 7 or $10,000 a month. Right?

Brent: Mhmm.

Todd: It's not going back to their family. It's not going back to buying assets. It's just sitting in the account, which makes them then go and spend this on bigger teams, more marketing, expanding to different markets, and then all of a sudden that money disappears, and none of it goes home.

Brent: None of it goes home. Right.

Steve: Yeah. Yeah.

Todd: Yeah. So one thing that I that I highly suggest for anybody because we're getting off to a fast start here,

Steve: Steve. Fast start.

Todd: Yeah. No. I mean, I love this. And the last time I was on here, I was told that I have to stay away from the microphone because people are listening. They hear you, and then they have to turn it down every time I want.

So I'm gonna stay back here. But, I think it's a really good and this is something that you taught me, that Todd taught me and that we've talked about a lot is keep a certain amount Right? I keep two months. Operation cost, marketing cost, whatever it is in there. Everything else off the top goes to my savings.

Yeah. Goes to my family. Everything. I don't care. I'll do it daily.

I'll do it weekly. I'll do it. I like it. That inspires me. That makes move.

And then when I see only two months in there, that's when I that's when I feel that hunger. Right? That heat. Yep. That that that movement.

Brent: You know, I heard Grant Cardona talk about this. Right? He's like, you wanna work like you're broke. Yep. Right?

And he's like, you know, if Grant Cardone says, I work like I'm broke, you work like you're a millionaire. Mhmm. Right? And so it's really funny, you know, back in 2014, I had a guy running our company, really, really, really nice guy. And and he'd say, hey.

You know, every time there's there's significant money in the account, you take it out of the company. I'm like, yeah. That's what it's for. So, you know, I'd be peeling off $40.50, 60,000 a month Yep. Out of the business account and putting it in my savings account.

Right. And he's like, hey. You're robbing the company. I'm like, no. I'm like, you guys have to operate over this 40 or $50,000.

But here's where it really, really helped me. Right? Is that anytime the business account got got below $50,000 right? I used to get this nervous energy, right? I'm like this can't go full of 50.

But at the same point, I have paid myself. That money now is working in mutual funds or the real estate or hard money loans, right? But now my company, there's this company, there's this nervous energy that there's not enough money there, which got me really, really excited. I remember we're we we had a at one point when we had a big team, guys are going off Craigslist to get deals off Craigslist, right, to save money on market. We had mailing campaigns going out.

But what's in the database? What can we get today? What can we extract? What can we maximize? How can we raise up the level of intensity, right, so that you guys can do a deal today?

And when you extract money out of that, it takes out that comfort Mhmm. Zone. Yep. I mean, thanks for bringing up. I mean, I'd say that's a great way to start.

Todd: Well, I think also, Steve, when people are starting out, so just speaking to anybody that's just starting out in this business, the idea is to keep the money. Right? I I have a lot of purpose. I mean, I started

Steve: business just to work hard. Right.

Todd: Well, I think, you know, some you you know, you have some success. You get some you know, you you want to, involve people that you love or people that you know that maybe they're at your other job or maybe you knew them from a different profession to bring them in. But I also think what people do off the bat first of all, when you're when you make your first deal, when you're getting your first deals, you should be taking 80% of that. Put 20% back. But if you're doing it smart, if you're talking to people, right, if you're cold calling, if you're getting it from door knocking, if you're being really proactive every single day, you can keep that.

Brent: Yeah.

Todd: As long as you don't have to throw it into marketing and throw it into something else every single time. I see that time and time again. Take your first deal, throw it back in the market. Take your first three, throw it back in the marketing. No.

Start building the nest egg so that when you're out of the military, right, in six months, when you're when you, you wanna get out of your job, you wanna do all these things because this is a side hustle for most people starting out. Build that up and just forget about it. Like, you have to think that it's like starting at zero every day. Right? But just put it somewhere.

Don't just think that you're being a smart entrepreneur because you're investing more in your company.

Steve: Well, I think

Todd: this We are not making a product.

Steve: So what's fascinating, right, is that my personal life, I understood savings. Right? My parents taught me about fiscal financial responsibility. You know, every penny saves, penny earned, all that good stuff. Right?

And when I got into the business world, this switch flipped. I don't know why, but every dollar I made went right back in the business. Mhmm. And I kept telling myself, I'm just reinvesting in the business. Seven years later, I'm not making any more money because I'm just reinvesting the business.

And I read Profit First, like, wait a minute. You can pay yourself first?

Todd: Yep. Right.

Steve: So, you know, when you're w two, you pay yourself first. You understand that to build financial wealth. But for some reason, we get into entrepreneurship. Mhmm. Right.

That mind goes away.

Todd: Well, and that whole that whole, equation is your expense you you take out, you take you take the profit first. Whatever's left over, that's what you're allowed to spend on your expenses.

Brent: You're not

Todd: just putting more in. Right?

Brent: You know, and just a really easy way to say this, one of the things that I've seen with new wholesalers is that and and because I'm I'm a direct mail guy. You know, Brent is is a talk to people guy. But even if you're cold calling, it doesn't matter. Right? There are leads that come in.

Right? And then if you wanna simplify this business, there's just three things. Yep. There's marketing. Right?

And I suggest you start out just one or two marketing channels. Right? When you start spreading out, that's where you get loose with the money, by the way. A little PPC here, a little Facebook here, little, you know, text blasting here. You know?

Lead generation. Whatever it is. Right? Don't get sloppy. Right?

Focus on one. Right? But where people get mistakes is that if they don't have another deal, like, I need to market more. Mhmm. Right?

Meanwhile, they have leads sitting in their database right now that night need to be qualified or requalified or taking down that prospect into a sales path. And so because most people that maybe have money in their account, they think they wanna dump that back into fresh new marketing Yeah. When they're already sitting on gold, which makes no sense what so much.

Steve: Right. But it's something that happens. I don't know if if there are people saying it, but whatever it is or you see, you see other people doing is like, oh, they're just reinvesting back in their business. Yep. Which sounds great.

Brent: Yeah. Right.

Steve: But there also needs to be a pay yourself component. So is there a target? You know how much you say like, you know, you've got two months, you just everything else clears out. Do you have the same?

Brent: Well, like for myself for one of my companies, I pay myself a $12,000, salary out of our our wholesale business. But with that, that's a salary. So that comes out every every single month. And then on top of that, I take out monthly distributions based on where the account is. Right?

So for us, I take 50 I I my bottom line for my, for my, account. Wholesale account. Yeah. It's $50. Right?

I've always I've always kept it out there. Right? So if 10,000 goes out or 15,000 goes out, right, at the just at that 50 level and, again, it's like not not like if you take it out, you couldn't you couldn't put that back in.

Steve: Right.

Brent: But just that mental thing where that account is always sitting at $50,000 for at least for the wholesaling side. Right? Always has kinda kept this little nervous energy, right, that keeps people producing. What's closing? What's in the pipeline?

Right? Keeps it front and center. So that's the number that works for you. But I think whatever the number is for you, right, that's that's they talk about that profit first. Right?

That's gonna force you to, you know, be more resourceful in your own company.

Steve: Yeah. Well, can can you put like, you know, as a rough guideline, fifty fifty k. Is there a certain amount of months that's that that sustains you? I mean, I think with direct mail, that's like probably two months max.

Brent: Right.

Steve: At 50.

Brent: Well, again, it depends on how much you're mailing. Right? So for us, at one point, we had a direct mailing budget like 60 or $70,000. Right? I mean, right now, our direct mailing budget right now is only 15 to 20.

A month. Right? 15 or 20 a month. Right? But as you pay that out, also, if you have a pipeline Mhmm.

Right? And you are working those leads, right, you're gonna be getting in that you're you're thinking about getting deals in weekly. And that's what we could talk more about today. Yeah. Right?

Is that that 50, you're right. If you have to wait two months to get paid again Mhmm. Right, that's where people get into trouble. Yeah. Right?

You You gotta earn money today. Yep. Right? You gotta work like you're broke, like a crazy person. Right?

Or if you don't wanna work like a crazy person, then at least have a couple people around you, but you gotta be on them Yep. To make money. Yep. Right? And fun.

If you wanna grow a bigger operation

Todd: Mhmm.

Brent: Do that.

Todd: Yep.

Brent: Yep. Right? That's okay. But you're gonna have to keep pushing and pushing and pushing and make sure that with that expanding team that you're getting paid for it. And, we talked about this before we hopped online that you must get paid for additional risk.

Steve: Yeah. Yeah.

Brent: Right? You know, it's it's not I've seen so many people. They're like, I need a disposition manager. I need an acquisition manager. I need a lead manager.

I need an admin. I need an admin for my admin. I need, you know, you know, I I need a and then so it's like it gets out of control.

Steve: Right.

Brent: Right? And I think it's more about ego Yep. Than profit. Yep. Yeah.

About ego than profit. Right? I mean, we talked about I know, you're gonna have Jason Bussey on the show. I mean, you have some really great guests on the show, by the way, man. Good job.

Steve: Very lucky.

Brent: Your show is just awesome. And, you know, this guy is all about doing, you know, monster deals, which I'm a big fan of. Yep. But keeping all those profits.

Steve: And and

Brent: the reason why he's able to do that is that he's got his eye on that. He knows what he's after. Mhmm. Right? And that's the check.

And so some people, I think, we get caught up in the ego and maybe that underneath, that's maybe what they're after.

Todd: Yeah. Right. Well and I think, you know, listen. Some people wanna build a big whatever. Got it.

So the first part of this is keep more money. So let's just put a let let's put a bow on this. Okay? Pay yourself first because I wanna I wanna deep dive. I wanna get into the get more deals portion Yeah.

Of this whole thing because that's that's what people are really tuning into to get excited about. But keep more. Pay yourself first, number one. Number two, listen to me. There is enough meetup groups.

There's enough support. There's enough Facebook groups. There's enough mentorships. There's enough things out there. You do not need a business partner.

You don't. Okay? You wanna really keep the most? You don't need a business partner that takes 50%. You can hire somebody.

Listen. I had a business partner forever. He's making twice as much as he was when we were together. Mhmm. Same.

Right? Making a lot. Yeah. It's just listen. You don't need a business partner.

Keep it for yourselves. Have the security inside yourself to know that there is there can only be one person on the white horse. There's only one person leading the charge in the company, and just let that be you. Have the confidence in there. And if you're a number two, be a number two.

But just understand that. K?

Brent: Yeah.

Todd: So that's keeping the money. Let's talk about getting more, sorry, more deals.

Brent: Let's talk about it.

Todd: Told me not to hit the hit the table.

Brent: That's good.

Steve: Let's talk about it.

Todd: But and you guys touched on it. The so we break down this business. There's only three parts. Mhmm. Lead generation, conversion, and disposition or exit strategy because this is real estate.

This isn't just wholesale.

Steve: Correct.

Todd: But let's just call it exit strategy there. Well, I don't think people are having a a problem getting the leads. The problem people have is is converting. Convergent. Convergent.

And you guys I mean, this is this is your guys' wheelhouse, so I'm gonna let you guys just go, you know, furious here. But it's just that is such an important thing. Right? It is you can bring in as many leads as possible, but if there is no conversion, if you're not there at the right time saying the right things, locking them up, shortening the timeline

Brent: Yeah.

Todd: You're losing this is how you get more deals. Yeah. 100%. It's yes. Go out there.

Talk to people. Get referrals. Cold call. Text message. Mail.

Pay per click. All these things. Banded signs. All these things. Right?

Brent: Yeah.

Todd: That's what people wanna talk about. People should be talking about conversion. People should be talking about the the sitting belly to belly, face to face, knee to knee with the seller, lead follow-up, prequalification, offer presentation.

Brent: Yeah. So so let me summarize actually what you just said Yep. Is, you know, I think a lot of people are always looking for the magic bullet. Mhmm. Right?

And because of that, they're always, dabbling their their feet in these different marketing channels when they're just looking for a lay down.

Steve: Yeah.

Brent: Right now, I don't know about you, but in San Diego, the lay downs They're gone. There's no lay down. They're gone. Okay. So if you're just joining this business and you're like, hey, I wanna, you know, just start and get $50,000 check.

Hey, look. That can happen in some markets. And I'm not saying, you know, it it's an impossibility, but you can't rely on that.

Todd: Mhmm.

Brent: You just absolutely can't rely on the lay down. And so now you must say, okay. This actual this business, you actually have to get paid for the value that you give your salespeople. If you have a sales team, I think that's one of the things you get paid for. Right?

Or the value that, your persuasion skills when you meet with a seller. And so they are should they're spending more money Yeah. Or looking for a new strategy or, you know, looking for some new, tool out there that's going to solve the problem of conversion.

Steve: The hard work.

Brent: The hard work. Right? And so for me, I think this business comes down into that conversion part. Mhmm. Only three things.

Is that number one is that you gotta understand that conversion is everything. Mhmm. If you look at anyone making $50 a month or 6 figures a month in this business, right, they understand conversion. Yeah. Right?

They they say this is imperative. I've gotta be able to do this. And and if I don't do this, then then I won't be successful. And if I do, I'm gonna write my own check.

Steve: Exactly.

Brent: Number two though, I think people have to understand this is not a natural born skill, right? That they're not natural born salesperson. You don't get off that easy. Okay. For me, I, when I first started, I was the worst, the worst.

And there's a long story. I don't think we have time for it. But long story, I was in a van selling alarms. I didn't sell one.

Todd: Right? And this this this You're in a van selling alarms?

Brent: Is that what you The vans took us to neighborhoods Oh, okay. Selling alarms. Okay. Yeah. And after three weeks, I didn't sell one.

Yeah. And it was a, a 60 year old woman pothead who's living in the back of a van who was crushing me. Yeah. Right. And she was like, you know, and I was complaining about the product one day and she was like, stop complaining about the product.

You know, yo yo, it's a 20 year old snot nose kid. Yeah. She's like, learn the script, practice, get in front of her mirror, which I was too good for. I had a college degree.

Todd: Of course.

Brent: And she was living in the back of a van smoking pot.

Steve: You knew her.

Brent: Right? And I knew more than her. Right? Meanwhile, she's making $700 a day and I'm making nothing.

Todd: Right? Right.

Brent: And so, you know, that was a real punch in the gut, but I learned from that. And that you've got to understand that this can be learned. And then third, once you know that, you've got to make the commitment. You've got to make the commitment this is your craft. Yep.

And that you can be better and that you've got to put in the work daily to become a master closer.

Steve: Yeah. And I think that's something that's missed. Right? Because they think that you can go learn this skill. Right?

And you just spend a day or whatever, and you can learn this skill. But the commitment part, I think, is missed. Because I'm I go to sales training still. Right. You know, every single week.

Once or twice a week. And I I've I've learned it. I've heard it. I was like, oh, wait. That's what I missed.

Brent: Right.

Steve: That's my screw up. So how does someone commit to getting better at sales?

Brent: Well, there's a few ways. Right? Number one, I mean, obviously, wanna listen to podcast and learn. You know, Brett and I actually have event coming up. Yeah.

If you go to wholesale certified pro, you can find more about that. Mhmm. But, you know, the one there's a the one there's a ton of free podcasts that that I put out on on, Wholesaling Inc podcast. I've also put it on Brent's YouTube channel. So there's free stuff there you can start with.

Right? But, I'd I'd start there. K? And the second thing is if you want, we could talk about some of those sales things today if we have time, how we're not living on time.

Steve: Yeah. We're doing we got plenty of time. We're good.

Brent: Great. So, you know, I'm gonna focus on not actually on meeting with a motivated seller. I mean, that's like a whole another part about it. Right? Most people get caught up is really the process of being with the seller on the phone.

Mhmm. Yep. Right? And communicating with the seller. So again, this lay down, and you and you can interrupt me at any time.

Yep. The the lay down is kind of a thing in the past. Anybody can close a lay down. Right? So I'm not I'm gonna say, you know, the person who says I need cash today, and, you know, the first person comes to my house with a contract, I'm gonna sell for 60¢ a dollar.

Yeah. K. Anybody can do that. Yeah. So so if that's the person, you know, this is not that.

Yeah. Right? So the what what happens to most people is they they're on the phone with somebody and they're they're first starting out and the the seller when they call, they immediately take control of the conversation. Mhmm. They're like, what company are you with?

How long you've been in business? How much are you gonna pay me for my house? What's your license number? What's your license number? Right?

And of course Brent goes 12345.

Todd: I just give him my my cell

Brent: phone number. Yeah. And so immediately, right, the new wholesaler or salesperson or acquisition specialist, wanna call yourself, they immediately tighten up and their blood pressure goes to the roof and they start, like, defending themselves. Yep. Right?

And they lose control of the conversation when you're not

Steve: Or answer the questions.

Brent: Answer their questions.

Steve: Yeah.

Brent: And so what's when you're doing that, you got two problems. Number one, you're not directing the conversation to where you need to go. But the other part oh, three problems. Number two is that you could possibly waste your time with an unmotivated prospect. And then three is that you're not listening.

You're not gaining the information needed for the rest of the five things that I'm gonna talk about. So one of the things that I'm gonna talk about, right, is the the reversing, the redirect. Mhmm. Okay? And the redirect is that when someone responds to you, ask you a question, the way that you can maintain control of a conversation is to immediately respond with a question.

I've learned this from a lot of sales trainers out there. Derek, my my, sales manager from Pfizer was amazing at this. And so if someone calls and asks a question, you immediately wanna respond with a question. Sometimes you can respond with a little bit of an answer Mhmm. But then immediately cut into the question.

Right. Right? So if you're like, hey, you know, how long have you been in business? Right? You know, I could say, if I wanna answer it, if it's gonna serve me, I might say, well, eighteen years, but let me ask you a question.

Right? Is there a reason why you asked me Mhmm. How long I've been in business? Right. Right.

Right? And I took it back. And she may say, well, it may come out. This is what I love about the the redirect is that she may say, well, I'm meeting with five or six other investors, and they were here right before you. Right?

Which then will lead me to, oh, well, how did that go? And she said, well, I have an offer on the table for, you know, 65, you know, 63, 62, 61, and 60. Yeah. And just from a question of how long have you been in business, I know now she has six offers.

Steve: Right.

Brent: All on where I need to be. And now I've cut, like, a year off my sales cycle.

Todd: Yeah.

Brent: Right. So, I've gotta make sure I'm talking to the microphone here. Go ahead, Brent.

Todd: Let me well, I just and I wanna because you guys are deep, deep, deep sales training, years of experience. It's killers, like, unbelievable. Right? I always when I was on the phone, when I was following up, I always or or just a cold call. My two biggest things that I I literally had in front of me in my little prospecting, like like, booth would be confirm and approve.

Mhmm. Approve. Mhmm. Confirm what they're saying. Approve it.

Oh, yeah. I want 250,000. Oh, great. Okay. You want 250,000.

And then ask another question.

Brent: Mhmm.

Todd: Right? What is your guys' thoughts on that? How does that do you guys do some of that? Does that play into some of that redirect? Right.

Steve: 250,000. Right? Or Yeah. It sounds like you said 250,000. Yeah.

Did I get that right? Yeah. So repeating. Yeah. Mirroring for sure.

Yeah. Right? People wanna feel heard, and there's no way better way to feel heard than to repeat what they said.

Brent: Right. Right.

Todd: Yeah. Well and I think that there's no you wanna cause friction in the conversation? Start disagreeing with them off the bat. Mhmm. 250,000.

I mean, I'm looking looking at Zillow. It says 178. Are you crazy?

Brent: Oh, yeah. I not to go off on a tangent, but, yeah, I mean, like, let's talk about agreeing. It's funny. So, Brian, one of our acquisition managers, we're meeting with, like, an extreme right wing, you know, like, super right wing. Right?

She starts going. And Brian, he's kinda like, you know, leaning to the left. And she she she starts talking all of a sudden. She's like, well, how do you feel? And he's like, well, I'm kinda more on the I'm like,

Steve: shit. I completely agree Yeah. With whatever you just said. Yeah.

Brent: You know, and I'm like, just yeah. Yeah. Be quiet. I'm sorry. Did I put a bruise

Todd: on the other end? No.

Brent: That was good. I like that. It's like,

Todd: fires me up.

Brent: But, you know, that's really, really good. Actually, I learned a tip there. So I for me, I'm I haven't been great of actually repeating what the seller says. But what I I always say you gotta cushion. Yeah.

So whenever you use any of these techniques, if you feel tension rising, you gotta cushion. Mhmm. Right? And that's a technique that that we use. And so sometimes I use tone of voice as a backup.

Yes. But you just use repeating.

Todd: Yep. Mhmm.

Brent: So there's this little tools that you can use when you start to to use these communication techniques. Mhmm. Right? That cushion is gonna enable you to be able to do that if you sense that and sense the volume, and that's a great one.

Todd: And I I think also with the mirroring, just like you were saying, the tone and pace that they're talking. So I work with a lot of people in the TTP family that have joined, and one of the toughest things so they'll send me their recordings of their calls. Oh, that's awesome. And the tone is here. When the other people are talking, they're kinda going here.

And if your tone is here, it's it's really tough for them to open up. It's really tough for them to, like, feel like you're not just going through the motions so that you're a telemarketer or some you know what I mean? Most people in that's the that's what I see with most people that hire Filipinos or somebody from a different country That's hard to take your tone. Their tone is here Yeah. Because they're trained almost robotically to say the script as it is said.

Right? And so it really it really pulls people out of rapport. So I think not only confirming and improving, but using a tone in where it sounds, oh, accepting and loving and okay. And then you can go in with a question.

Steve: Well, I I I'm glad you brought this up because I actually had this yesterday. You know, I'm talking. I'm on a sales call, and the guy is just talking really slow, and I naturally talk faster. And so I had to intentionally slow just because it was so far apart.

Brent: Mhmm.

Steve: Our speed of conversation had to slow down. It was really tough for me.

Brent: It was painful. It was

Steve: a painful conversation, but you have to.

Todd: Yep.

Steve: You have to slow down. You have to mirror. You have to build rapport, and that's exactly it.

Todd: Yep. Mhmm. Love it. And I think, you know, the when whenever we're talking about conversion, converting these leads, right, we need to make sure that we're we're spending time with people that will actually do business with us. Right.

Brent: So I

Todd: think pre qualify. Prequalifying, is so critically important, and that's one of the steps that most people don't go into because they don't want this this precious lead to not be a lead anymore. Right? Especially as you're starting out, if you only have a few leads, if this is anybody that's being nice to you or they're saying yes or whatever else, you're like, I gotta guard this lead. I love this lead.

I don't want it to go. So I don't wanna ask the tough questions.

Steve: Mistakes you can make.

Todd: Right? You see with your students?

Steve: Oh, I I don't see as much of our students because we preach so hard on disqualifying as fast as you can. Yeah. Like, get them off, kick them out. Like, Max, my business partner, he'll if it's from five minutes, this is not a real seller. Let's go back to the office.

Let's start prospecting again. There's no point in spending an hour and a half with an unrealistic seller.

Todd: Yep. Mhmm.

Brent: You know, that goes back to don't be scared of the truth. Mhmm. Right? Is that you wanna be a truth teller and a truth seeker. Mhmm.

Right? And so don't be scared of that answer because you're right. What is you are people like, oh, well, I'm just practicing. I'm like, that is a bunch of malarkey. Right?

Is that you don't send spend time practicing with unmotivated sellers. Yeah. Right? And and usually, we'll do that because we don't wanna spend if you are cold calling, you don't wanna spend the time prospecting, so you'd rather talk to someone who actually will talk to you. Right.

But let me talk a little bit about that second step which we use, which is verbal commitments. Mhmm. Right? Verbal commitments, let's talk about pre qualifying.

Todd: Yep.

Brent: Is that a lot of times, where people get in trouble even with money and and cost it again. They're they're spending so much money just trying to look for those lay downs.

Steve: Mhmm.

Brent: Right? And they and they're not pushing any of the the leads forward in that database.

Steve: Yep.

Brent: Because once you start putting the pressure on, and good pressure, I mean, just asking really, really good questions,

Todd: A 100%.

Brent: Right? Yep. And so, again, being scared of kind of where you're at. And then the other part about that is that once you have that courage, you will find people will move forward. And so a lot of these people who we do business with are natural procrastinators.

Right? Think about it. Someone who's behind on taxes Yeah. Or their son has been living in the property for three years. By the way, my all time favorite seller, if you've got a family member living in a property, call me right now.

I can help. Okay? Okay. Right. I I don't know if you've seen that, but it's like the best deals ever.

Right? There's so much emotion tied to it.

Steve: Oh, it's strange. Very emotionally

Brent: charged. And the ones that go on the longest. Yep. Right? And so when you get there, it's never about price.

Mhmm. And so with those situations, they tend to drag on and on and on and on and on. And so it's really important for us that we learn is to every end every phone call with a very next action. Mhmm. Right?

And then have the seller define, make it always make it their idea. Define the very next action in specificity. Right? And, you know, I don't wanna over complicate that, but but what are they going to do between now and the next phone call to be able to make a decision? It may not be a contract, but it might be the very next step.

Steve: Yeah. What we like to call it a clear future.

Brent: Okay. Clear future.

Steve: You have to have we're you and I, we're on the same page that when we talk again

Brent: Yep.

Steve: You know what you're gonna do. I know what I'm gonna do, and then we meet again. Mhmm.

Brent: Yep. That's awesome. Right? Yeah. And then have a date and time.

So So the whole thing about I will call you next Thursday. Right? No way. Mhmm. Right?

I'll Oh, no.

Todd: I'll call you next week.

Brent: Yeah. Hold on. Forget it. Yeah. Yeah.

Yeah. And it's just the comfort zone. It's the comfort zone because a lot of people like, well, I don't wanna set the appointment. I don't seem like I'm doing too pushy. I'm gonna lose a lead.

Alright. That that's it. And so you will know by by pressing into this, by leaning into this, right, the truth will start to leak out. It's like a sponge. Right?

Right. And you get to find the truth. So you will lose leads and that is okay.

Steve: That's great.

Brent: Right? Because now it'll start to be very, very clear. And now you have a we have a a hot and warm list. Mhmm. That list, if you haven't, you know, first of all, there should be 20 or 30 people on there at all times.

Right? And that's good because you can continue to work that path. And so now everybody knows what time you're gonna speak. And if you set those commitments and someone doesn't show up two, three, four times Yep. Well, you you know, you you kinda know.

Steve: Or you said a week or you said a

Brent: week commitment. A week commitment.

Steve: Yeah. Yeah.

Todd: Well, and I always find that talking about getting them taught, the longer I get them talking, the longer anybody, the more they open up. Right? It's almost like the the first, I would say, probably forty five seconds to ninety seconds. It's like they got that shield, that reflex. No.

They've got that force field on. And then I always ask specifics about the house. What remodeling have you done to the kitchen bathrooms in the last five years?

Brent: Mhmm.

Todd: Right? And then they start going, and then they start talking about the floors, and then they start talking about the roof, then they start talking about their son that's lived there for three years.

Brent: Oh, yeah.

Todd: Right? So, you know, you've got you've got condition, timeline, motivation, price. Those are the four things you gotta prequal every single time. And I love going condition and getting them to open up because a lot of people will tell you about the house Mhmm. Because that's just kinda like catalog.

Right? It's just kind of in their head. It's easy for them to go, and then they start getting into what happened to the house and their motivation and what's going on here. And the toughest one, and this is what I wanted to bring up to you. I'm setting you up for this.

Yeah. The toughest one to pull out of everybody is the price.

Brent: Oh, yeah.

Steve: Yeah. For sure. Right?

Brent: Before

Steve: we get there, I wanna talk about how many bad movies

Todd: Yeah.

Steve: That you sat through as, like, this movie sucks.

Brent: Uh-huh.

Steve: But I already watched forty five minutes. I might as well

Todd: I'm gonna go through. Yeah. This is gonna be Yeah.

Steve: And so having this conversation with the seller, if you have a long conversation, they'd rather just go with you if you guys can get close on price because they don't wanna have this conversation again with another person. Yeah. So Yeah. Yeah. Very good.

Todd: Very good. Really

Brent: good, bro. Yeah. Yeah. Yeah. I mean, that is true.

Yeah. You know, and and we we talk about actually when you're meeting with Motivin, so we have that pain step. Yeah. And I remember, you know, for me, I'm I'm a negotiator. Right?

I don't like to pay retail for anything. But I'm telling you, I was in a car dealership one time. Mhmm. And I was there for three and a half hours. And if they would have thrown 2,500 at the end on there, I would have still signed the paperwork.

I would have done it.

Steve: Yeah. Yeah.

Brent: You know, they they they got me. They knew, you

Todd: know Yeah.

Brent: I think they only got me for, like, a 300 clear coat or something.

Todd: So Yeah. Yeah. The under undercoat.

Brent: Undercoat. Yeah. Yeah.

Steve: Yeah. Yeah. Breast protection.

Brent: Yeah. Yeah. So, you know, and and there's a few other things about the the

Todd: Pulling out price.

Brent: Yeah. You're pulling out price. So, you know, let's talk a little bit about, you know, price conditioning because there are five techniques

Todd: Mhmm.

Brent: Of the that we talk about in the no limit selling system. But if you want, we can talk about price and some techniques that you can really Sure. Get on price. Yeah.

Todd: I think people love it. Yeah.

Brent: Okay. So, you know, some people say, well, how do I get the seller to come down? Right? Well, first thing and I you know, you probably know this and maybe you've preached it, but you gotta have motivated seller. Okay.

So let's, you know, let let's assume.

Todd: Let's

Brent: assume the motivated seller. You've had the conversation. You're asking the hard questions. They have

Steve: There's real pain.

Brent: Yeah. Right? You know, there's nothing that you can do to help someone who does not have a problem. Right. Right?

Besides sheer ignorance and that is, you know, isn't it's lightning. Right? You're not you're not really gonna see that. So let's assume that, and it's something that you can help. This is something that people don't realize, but you have to believe, okay, that you are worthy of doing a 20 or a 50 or a 100 deal.

Okay? You are worthy. You can do it. Your market has something to do with it, but really, it's much more about you. Yeah.

Okay. We were just talking about Jason Boosie, by the way. He's gonna be a guest on the show. You get awesome guests. Watch that episode.

But, you know, this guy does $500,000 deals. I think he's got a course called 500 ks deals. Mhmm. He gets them because he expects them. Right?

He wants them. He is looking for them. And when he does this, his eyes only see that kind of money. Yep. Right?

And when he sees, you know, and and when he sees the 10 k deal or 20 k deal, he's not that interested in it.

Steve: He's not getting out of bed.

Brent: He's not getting out of bed. In our company, we've always operated the same thing.

Steve: Yeah.

Brent: In the same exact way, and we ran a course called bigger deals. And I said, look. I said, I bet you that I can double everyone's deal size on this thing without spending any more mark money I'm working. Right? Mhmm.

And if I and we we did some things in the course on the disposition side and some sales training side, and that was part of it. And it's a great course. But the number one thing by the way, like, literally, we have, like, an 80% success rate. Every everybody who showed up doubled their deal size. Mhmm.

Okay. But the number one thing I said was, what are you making now? Okay. And then let's double that.

Todd: Yeah.

Brent: Right? And then we we focused on that. Okay. And just by that Yeah. People made more.

Right? Because how do most people negotiate? They say do they go in and pull it all together now? Is this okay? I'm meeting with the seller, and if I could just make $10,000 right?

Then I'm good. Mhmm. So they go there, and that's exactly what they negotiate for on the front end. And guess what? When they're negotiating with the buyer, let's say the buyer side gets crazy, they sabotage themselves.

Right? They sabotage themselves. You are sabotaging yourself. Mhmm. So make the decision.

Right? Turn up the volume.

Todd: Massive deals.

Brent: Heat. Do a massive deal. Yes. Now, I'm not gonna tell you that you're not gonna that you're gonna do a 50 banger every single time or a 100 k. But I tell you what, right?

Gonna if you're not looking for them, if you're not expecting them, you're not gonna get them.

Todd: I say this on stage. Go ahead.

Steve: Well, I was gonna say there's this there's two parts I wanted to add here. It's first, we've grown up well, most of America grew up. I didn't grow up this way. Most of America grows up. We just don't talk about money.

Yeah. So it's a taboo topic. Like, in our household, this is crazy. But we knew exactly how much everyone else made in the family. Like, cousins, aunts, like, everyone knew because grandma always asked.

Yeah. And she told everybody. She's a gossip machine. Yeah. So but so it was not taboo in our household.

So I'm very comfortable talking about money. But for the most people most part people are. And the second thing I heard that someone say was that you are making exactly what you feel like you deserve.

Brent: Mhmm.

Steve: So I think right here, we're talking about mindset because if you thought you were worth more, you would do something about it.

Brent: Mhmm.

Steve: Right? So you have to change that flip that switch in your mind, which I think is a great point that you're making here.

Todd: No. I just know you do a $50,000 deal. Your your brain chemistry changes forever.

Brent: Yeah.

Todd: Because now it's possible. Now it's not just that you're you're thinking that this isn't just some fantasy. This isn't just a hope. This isn't faith that you can do big deals. You did it.

It's in your bank account. Like, you can literally make that decision now. You can tweak your mental antenna to look for massive deals. You can. You can.

And so, you know, getting into the price negotiations, I think that's where we're kinda bringing this to is pulling out the price from the seller. Well, they're gonna want to play around with you as well. And oftentimes, I mean, we try our best, at least at at my company, I'm sure, at yours to get the price out in

Brent: yours. Right.

Todd: For sure. The price out of

Brent: them first.

Todd: But sometimes you can't. So And sometimes you have to take a shot across the bow.

Brent: Well, let's talk let's talk about how to do that. Yeah. Right? Because it's really important. I always talk about three levels of rapport.

So you always wanna be able to do this. The three levels of rapport. I go into we're gonna go into detail on this in a wholesale certified pro. But the the issue there is that if you build rapport, right, you can go in for really, really low prices. Mhmm.

And if you and and if they're like, no way, you could still save it. Mhmm. Right? But if you have just, like, you know, I just met you.

Todd: Mhmm.

Brent: Right? I'm gonna try to have sex on the first date. Right? It's gonna be really tough to recover from that.

Steve: Right.

Brent: Right? Yeah. So you wanna have really, really, really, really, really good rapport, level three rapport. The other part about this though is that you have to be able to cushion. So if you go for that low price, if you're expecting it, right, is that how do you go in deep?

But knowing that you can recover, am I making sense by the way? Yep. Right? Yeah.

Steve: We elaborate on it. But, yes, you're making sense. Okay. Elaborate a little bit more on that, but go ahead.

Brent: Okay. So one of the things that one of my mentors, told me, and this is back when I was doing lease options, Peter Conte and David Finkel, when they were teaching the lease option course, was something called the range technique. Mhmm. Right? So, when you talk to a seller and you try to get that number, gosh, I mean, it seems like sellers are getting better and better at this.

Right? Not saying that the number

Todd: They they're going to seminars.

Brent: They're going to seminars.

Todd: They listen to the seller, distressed seller negotiation podcast.

Brent: Brett actually has a podcast. Teaching sellers how to negotiate with wholesalers.

Steve: They're getting a lot of reps.

Brent: Yeah. They're getting a lot of reps. Right? That's a good point. But if if you can't get a number or if somehow you ask five you wanna ask five different ways, like, you know, what's the lowest you'll take?

Have you talked to anybody else at the property? You know, give me your best guess. You know, what would you be happy with? So, you know, you should ask at least five different ways. Okay?

And we won't get into into that. But if you can't get that and they throw out a number, the way to cushion this is the range technique. So say they say I want 200,000. Right? Instead of saying, I'll give you a 100.

Say, hey. Look. What if I could get something like, you know, a 100 to a 150,000? Right? Is Is that I know that's a big range.

Right? But is that something that you'd even consider? Or probably not. Right? And it's a it's you're offering a little bit of reluctance, so you're pulling away.

And what it does, it just it's a little bit of a cushion. And I say probably not. The tonality is everything. Yeah.

Todd: This is I wanted you to elaborate on that. Yeah. Is that something you would consider or probably not?

Brent: Yeah. Probably not. You know? And so, like, it's Brent. He's just a nice guy.

He's not pressuring. So even though I'm offering you 50¢ on the dollar, this guy is just so nice. He's not putting any pressure Right. Versus if I'm like, I'll give you a 170,000 right now. Sign the dotted line.

Steve: Sign your eyes. Away.

Brent: But I can offer a 130 with a different tone of voice, and they love me.

Steve: Yeah. Right.

Brent: Right. So it's all about the tonality in my in my opinion. And then using that range technique, I didn't really make you an offer. I just do it out there.

Steve: So what I do just a little bit differently is I throw I'll throw Bryte under the bus. Right? Mhmm. Like, I don't know what we can offer yet, but I know investors in the area

Brent: Mhmm.

Steve: These TTP guys. Yeah. Like a 100, a 130

Brent: on this one. Yeah. Yeah.

Steve: I don't know. Like, is that something that you even consider?

Brent: Yeah.

Steve: Right? So I'm just throwing investors under the bus. Mhmm. It's like that's offensive. It's like, yeah.

I thought I think so too. Yeah. Or like, oh, that sounds like something we could do. It's like, okay. Maybe we can

Brent: you know?

Steve: Maybe we could could possibly work something out here. Yeah. But I'm throwing everybody else in the house.

Brent: That is awesome, by the way. I'm gonna take that back for our team. That is awesome. You know what? Well, that is part of that.

Actually, that was another thing I was gonna talk about. It's price conditioning. Yeah. Right. So price conditioning.

And so you are now saying, hey. This is what investors do. I'm gonna use that. I'm definitely pocketing that. Mhmm.

But that was, it's something that investors do. So it's not only one investor often do that, but they all are gonna offer you that. Yeah. Right? And so I don't even need to start negotiating there.

What you do during this process is you plant a seed. Right? So I don't know about you, but have you ever done a remodel in your house?

Steve: Oh, man. Oh, it's terrible.

Brent: Right. Okay. But the number that you start out with

Todd: Oh, yeah.

Brent: Is, like, low. Right? But then, like, it always quadruples. Right? But what happens is magically but what happens is because it kinda happens over a period of, let's say, three to four months Yep.

Right? It's kinda like get this fatigue thing, right? And by the time you get to the end, you're like, I'm just glad to be done with this. Right? So if you're price conditioning the entire time, one of that ways, like, that's a first strike, what you just talked about, Right?

You know, that's one of those. But you're always sowing these seeds. So when you go through the house, never argue with the seller. Man, I'm gonna beg I could it's better hanging out with you guys here. You you're you're hanging out with the seller and you were, starting to look at the property, and you can start rubbing the little imperfections, like a little mold in the window or the roof and the thing over there.

You know, the worst thing that you could do is start saying, oh, that's $30,000. Yeah. That's $20,000 and that's 15. First of all, if you're not gonna fix it, you're a liar. Right?

Yeah. But what you do is you just rub

Todd: it.

Brent: Oh. Right. And all of a sudden, they're gonna, like, start defending themselves. Right? And you go, you know, like, you're like, oh, you know, you know, and you start taking notes.

Steve: Yes. So what Max likes to do, he likes to turn on the flashlight on his iPhone. I'm just gonna sit there. Okay. And then not say anything.

It doesn't sit there and they're like, well, no. No. That was from Yeah.

Brent: Yeah. Right. Now, the interesting thing is that if you can let that sit

Steve: Yeah.

Brent: Right. If you can let that sit, you know, for, two hours Yep. Right? Or you think that's another, you know, price conditioning. Right.

Right? You know, one other thing that I I will go back to is you're always also weaving these things in, so you're always weaving back in the price conditioning. You're always weaving in the pour every as soon as you feel tension. Right? Weave in the report.

Yep. Right? Yep. And so one of the

Todd: But don't make it don't make it, like, obvious.

Brent: Yeah.

Todd: You know what I mean? Don't just keep pulling them back into weird rapport because you're trying to do it. You know what I mean? A rapport could be just, like, saying something nice to them or in a good tone or agreeing with them or whatever they're saying. Oh, yeah.

I got it. Yep. You know what? It is a lot of work, but, you know, don't worry about it. You know?

Anything. You know what I mean? Just making them comfortable. It doesn't have to be like, oh, okay. I guess he fishes.

You like fishing? Yeah. That's I like fish too. I eat them all the time. You know?

You know what I mean?

Brent: Well, yeah. So, Phil, let me talk you know, some of the stuff that the rapport building that you're talking about, though, it seems very natural. Mhmm. Seems very natural. Okay.

I know I'm setting you up here.

Steve: Yeah.

Brent: Right?

Todd: Yeah.

Brent: Let's talk about that.

Todd: K.

Brent: Right? So why does it seem so natural, Brent?

Todd: Well, first of all, I do it a lot. Right. Right? You've gotta you have to understand there's different personalities types, and you have to get at the plate. It's just like Tom Tom Kroll said, it's perfect.

It is the education. It is not education plus action equals results. Mhmm. It's action plus results are your education. So the more and I I was very comfortable really, like, talking to strangers, being around, growing up.

Even in college, I didn't do it as much. You know? I really had to get to a lot of different reps being around it, getting in the situations to where I understood, oh, when I agree with this tone or when I do this, people seem to open up a little bit more that are this type of personality, that type. So it took some training and a lot of practice, like, a lot a lot a lot of practice and a and and actually being I think the biggest thing is, like, actually being, like, alive and in the moment and aware. You know what I mean?

Not just being there and just kinda, you know, thinking of how am I gonna get this dude down a 100 k.

Steve: Well, I think the the thing that happens is you gotta get so many repetitions. You gotta be so good Mhmm. That you can kinda not be there, and you can kinda see what's happening as it's happening. Like, you're not you in that body. Like, you're just kinda like you're there, but you see what's going on as if you were a third party.

Right. And you gotta have a lot of reps to recognize it, right, where you can recognize the tone. You can recognize the body language. Yep. You can see the eyebrow twitch.

You can see the and you can see the arms crossing. And Mhmm. The first ten, twenty, 50 appointments, you might not recognize that.

Brent: Right. Right.

Steve: But you get enough reps, talk to enough people.

Todd: Mhmm. Yeah.

Steve: You're gonna start noticing these subtle

Todd: Who who's the dude that wrote the book principles? Ray Dalio. Right. So, Puff Daddy, Sean Combs, did an interview with him as because he's his mentor. Mhmm.

And you see the whole time that Ray is talking, p Diddy, Puff Daddy, Sean Cole, whatever you wanna call him, is like this. Mhmm. Actively listening. Mhmm. Actively listening.

Totally engaged. I think active think you don't have to be crazy with it. You don't have to go too wild and then interject and, you know, blast them out. But active listening on the phone, especially, is critical.

Brent: Yeah.

Todd: But I think also in in in, in the moment, in the appointment, it's just so important. And I think you can turn it off like you are right now. Right? Like no. I mean, like, you could be nodding and going, but then as soon as you're talking about something serious or whatever, you can you can show that you're you're listening and you're serious.

You know what I mean? Absolutely. There's ways to turn it on and off to show authenticity. You know what I mean?

Steve: 100.

Brent: Yep. Mhmm. Yep. So So let me you know, I I will won't take us too far off off topic here.

Todd: I love it.

Brent: Right? But one of the things that you're talking about is, like, you know, sitting there in reps and being able to do this was one thing that's gonna give you confidence. Right? Because if you are, like, desperate and by the way, if you're trying to do your first deal Mhmm. Or you're, like, cash poor right now, like, I get it.

I've I've been there and you're, like, I've gotta get this next deal.

Steve: I need this deal to happen. I've been there. I I remember these days. Yeah. Right?

We're, like, we need this deal to close.

Brent: Right. And or you maybe just, like, joined a coaching program. You spent, you know, $5,000 and now, like, your wife is gonna be like, you are an idiot if you don't close the bank.

Todd: Get some deals. I better get some deals. Yeah. Yeah.

Brent: So there's a confidence that happens, obviously, once you have money in the bank and you've done the deals. Right? So it you also have confidence knowing though that if this deal doesn't close, then it's okay. If there's somebody right behind that and you have to believe that. Mhmm.

Right? So my recommendation on all this fits together, that one, two, three thing that we were talking about. Yep. Let's focus on one or two marketing channels. Yep.

Right? And then make sure doesn't even have to be a lot of money. That's the crazy part about this, is that that marketing is going out every day or every week Consistent. Like clockwork.

Todd: Yep.

Brent: So that while you're with that seller, if you are just a one man shop, you get two or three leads as you're on the phone with that seller because all you need is two or three, four leads a day Mhmm. To make a 100 k a month. Yep. I mean, that is true. It's true.

Right? And I'm more worried about the guy who's getting 20 leads a day, working by himself than the guy who's getting and and he's waiting a day or two to get back to these people, and the guy's got two or three who's on the spot with them. Mhmm. Right? So you gotta have, marketing you you gotta have your head straight that goes back to your psychology.

Right? And that way you can use some of these techniques, and you could listen and not care you're gonna lose the deal and have that out of out of matrix body experience that we're talking about. You know, the other part about this that also builds a lot of rapport, it also kind of works into the all these five communication techniques works together is something that we call the stealth mismatch. Right? And the stealth mismatch is going the opposite of what the seller does because most sellers are gonna lie.

And then the key is the they're gonna lie. Right? And so a lot of them don't know, you know, aren't gonna tell you that they're motivated.

Todd: Yeah. Right?

Brent: I mean, it's simple as that.

Steve: I've got time.

Brent: Alright? I've got time. I've got time. Right? So the one you said

Todd: got the right price.

Brent: So here's what I'll say is, oh, you know, the good thing is, I mean, if your son stays here another six or seven months, you're okay with that. Right? I mean, it sounds like you're good.

Steve: Oh, god. No.

Brent: Okay. Boom. Now I got why not? Jesus. I mean, he's he's he's got a really pretty girlfriend.

I mean, he's never Sure.

Todd: He'll probably get a job sometime. Yeah.

Brent: Right? You know, you know and so you you can do that. Right? To say, oh, the good thing is, like, you know, you could put 40 or $50,000 in this place listed with an agent and give you way more than I can give you.

Steve: Yeah. You've got options.

Brent: You've got options. Right? You know? And, you know, and and let them respond and then build rapport. And so go go the opposite.

Anytime you feel like they're not being forthright, mismatch. Mishmatch. Now that works. By the way, all this stuff works. It doesn't work a 100 of the time.

So that's when you gotta get the dance. Yep. Right? And by the way, there's one fail safe that I'll have here. Because sometimes you got somebody who's like this, and no matter what, you are not going to win.

Todd: Yep.

Brent: Right? And so I'll give you a one fail safe that will will save you. If you do it consistently, if you just did this one thing, you could actually probably net 3 or $400 a year, and I'll and I'll and I'll talk about that. But that stealth mismatch, you won't wanna get really, really good at that. I noticed it works really, really good at home, by the way.

So just so you know

Todd: This is live. This is live.

Brent: So, I can't really talk too much about using it at home, but just know Yep. It works.

Steve: So I did a sales presentation, and my wife watched it. That stuff doesn't work anymore after.

Brent: Oh, yeah.

Todd: Yeah. Yeah. That's hilarious.

Steve: That's hilarious.

Brent: You know, so, are we good on the stuff mismatch by the way? I mean, did we do that?

Steve: Get

Brent: it. You know, one other thing though too is, these are habits and routines, and we talk about becoming a master of craft. And there's some things that if you just do them every day, you win. Right? If you if you sales train every day, you win.

If you market every day, you win. You prospect every day, you win. Last part about it is all these techniques, and I wouldn't touch on everything, is on the offers who have any inkling on selling whatsoever, send out a written offer. Mhmm. Mail it out.

Mhmm. Right? Because sometimes you are not gonna be on your game. Mhmm. Right?

But I can tell you what, if you do that, if you're sending out 100 offers a month, one or two will be accepted. Right? And send them out with $20.30, dollars 40,000 profit. And if you do that, right, people like it cost me $7,500 to do a deal. Well, that one deal of 20 or $30 will totally change your month.

Mhmm. Right? And that's where these little dials, if you just get a little better, each one of these areas, they're gonna start to multiply. Yeah. Right?

And so I'm telling you, just do it. Yeah. Right? And you win.

Steve: You know, it's funny because there's a guy in our office that does that. Mhmm. And he was telling me about it. I was like, get the hell out of here. You just mail one office because we've heard, Jack Bosch talk about

Brent: it. Correct. For land. Yeah.

Steve: Right? I said, okay. That makes sense. It's land. Whatever.

Yeah. He does it in Mesa. Yeah. And it works.

Todd: Yeah. Mhmm.

Steve: Yeah. Mind blowing. Yep. Yeah. Anyway, so you were talking about your fail safe.

Brent: Well, that was the I'm sorry. The fail safe.

Steve: Oh, the fail safe.

Brent: Okay. Is is the mailing the offers. Right? Yeah. So, again, you use all these checking.

And by the way, the majority of the the the deals will be locked up using the sales tech. Right? But the last habit is just is just mailing out offers. Right? Because you're just having a sheet of paper.

It's nonconfrontational. They can look at it. They can hold it. And, you know, sometimes they'll just look at it and they'll be like, I I I'm I don't wanna take my medicine. I don't wanna take my medicine.

Right? Yeah. And then all of a sudden something happens the moment they're right there. And that that contract is a salesperson that is selling twenty four hours a day, seven days a week, and they know it's there. Yeah.

Right? And so, you know, very rarely would they just sign it and send it back to you. But it'll be just a spur another conversation. They'll call you and say, hey, this has expired, but can we do this Mhmm. Today?

Mhmm.

Steve: So Yep. Some questions here. Lots of praise. Lot you guys have a lot of fans apparently.

Todd: Alright. Can I tell them all real quick that you're gonna be on the wholesale hotline on Monday? You are at wholesale hotline on Monday, guys. Facebook live. We're gonna be here taking over Steve's studio answering your questions.

Steve's gonna be here. It's gonna be bananas with Pace Morby, Jamil Damji, Brent Daniels, Steve Trang.

Steve: Answering all questions.

Todd: That's right. So what do we got?

Steve: Alright. So question is, would you get a self directed IRA and take the money from investing into into doing your deals?

Todd: No. This is great.

Brent: Yeah. I mean, well, you gotta be really careful. Right? You shouldn't be taking your own, and again, I'm not a lawyer

Todd: or a tax accountant.

Brent: Right? If if you do a deal and then you gotta do with your IRA, make sure it's only with your IRA. Right? So don't, like, commingle funds and take an assignment fee and then use your your IRA to buy it. You know, the IRA the IRS can disqualify it.

However, if you've got another wholesaler in town, I would highly suggest negotiating with them and and sourcing deals from them and using your I our IRA funds from them. Okay? I would joint venture. Just switch. Yeah.

Just switch. I am I am huge on joint ventures. Right? Huge on joint Stop trying to invent everything. If you really wanna beat your competition, join them.

Okay? And you guys will, kill it together. You don't have to partner with them on everything, but a deal is just fine.

Todd: Oh, we know. I mean, we know that. Our our whole Yeah. We've got our

Steve: We have a crazy city. Yeah.

Todd: Yep.

Steve: Patricia Martinez wants to know what's the minimum population of city that you consider for cold calling?

Todd: I actually like the the cities. I've I've cold called in Prescott. I've cold called in Flagstaff. Done very well. They're, like, 50,000.

I would say probably 50,000 is the minimum, I would say. And I think you you could totally dominate if you say super focused. You absolutely have to drive for dollars. Right? You have to get that build up that list, get all the little stuff, the code violations, the evictions, the probates, the preforeclosures in your small market and go after them all.

Okay? It's not gonna be a lot because there's just not a tremendous amount. You can burn through a list of the, whatever, the 10,000 non owner occupieds in, you know, a few months. And then what do you do with the rest of your career? So make sure that you're going after those properties.

But just like you, you you you gave me the stat, and I use it all the time. Six to 10% of the market is in distress. Mhmm. So you gotta figure that's gonna be, you know, a good amount of people there, 300 deals in a 50,000 person market, maybe more. So

Brent: Lot of teams still.

Todd: Listen. You do 20 deals, your life's just gonna change in a year. You do 50 deals, and your life is really good. And you could do that all yourself if you wanna keep all your profits, or you can bring on somebody that gets, you know, some sales commissions or takes care of some of the, operational stuff.

Brent: So You know, I've I've got actual add on to that. You know? And I think you alluded to that. So I was just in Florida, fishing with my dad and my, my my kids, my dad's grandkids.

Todd: Yeah.

Brent: And my dad and my whole family, they're they're like psycho fishermen. Mhmm. Right? And they're like, what's the right tide? What's the right bait?

What's the right rod? What's the right line? You know, and my and so every time we went, my kids, you know, the fishing stinks in California Yeah. Compared to Florida. And they just like, I just wanna fish day in and, you know, day in and day out.

And so my kids are like, okay, I wanna fish at this time. And and and, of course, according to my dad, he's like, no, this isn't perfect. So we showed up, like, every day, every day. And we sat there way longer than my dad wanted to. Yeah.

But every single time, guess what? We caught a fish. Yeah. So we caught a fish. So we're sitting there and on the last day, my dad is like, This is the worst tide.

We're not catching fish. Let's get out of here. Come on, guys. You guys did great. You know, he's like, he's like, I'm so proud of you guys trying to, like, get them to go.

And they're like, nope, we don't wanna go. And it's funny, I was using a term. I was like, you always have to have your bait in the water, kids. Oh, yeah. I go, the conditions will never be right.

Yep. Right. Yep. Two seconds later, my daughter gets a huge jack on the line. I put it on Facebook.

Yeah. And this is the thing. And it's funny. So we start going and all my kids' lines are there and it all gets tangled. Everything goes wrong.

And she obviously just wanna lose it. It's gone all over the place. And I'm grabbing it now. I have the line. We cut all the lines, but I grab the line.

And I bring it in in there, and we we we get the fish and it's huge. You know, but it's just going back to what you're saying. I think those stats are important. We should put ourselves in a good advantage. A part of of that is, like, sometimes we can outthink ourselves.

Yeah. Right? More complicated. Yeah. More complicated.

It's like just show up every single day. Right? And you're gonna get the monster.

Steve: So that goes back to this question to Tariq Akim. He wants to know what one thing she could do every single day to generate a deal in a competitive market like Denver.

Todd: Talk to people. I mean, you got a couple of the options. I mean, be proactive and, get really good niche lists in your market Mhmm. But also stop messing around. Go get referrals from other people.

Go joint venture with other people that need help selling their deals.

Brent: Mhmm.

Todd: Build up a cash buyer database. Get people that that need properties and match them up with people that need to to to sell these properties. So I think a couple different things. I think people need to be building up their referral network a 100%. Mhmm.

The model, the whole, you know, joint venturing, building up that cash buyer, being the dispo of, you know, helping out the the other wholesalers, investors, agents, neighbors, you know, family, you know, whatever. Yeah. That that's out there. I think that that's a 100%, but you need to the the goal that she should have just to put this to to make it tactical is talk to 10 new people a day. Seriously.

Talk to 10 new people a day that are that are filtered down into some sort of distress list or that are somebody that is in the industry that could potentially send you referrals.

Steve: If you talk to 10 people every day, I'll let them know that you buy houses. Yep. You can't not buy houses.

Brent: I know. You can't not buy houses, and I'll add on to that. Is that the reason why the crazy competitive market is crazy because the buyers are willing to pay so much.

Todd: Yep. Mhmm.

Brent: Right? So that means that you have a hungry, hungry, hungry, hungry customer on the back end. Mhmm. Which means that you can lock up deals for for a much higher price Yep. And sell them at ridiculous prices and that their margins have to be that small.

So working with the wholesalers just to expand and expand on that, your opportunities in the buyers Yep. Not necessarily in the sellers. Yep.

Todd: Can we talk about this event real quick?

Steve: Yes. Because I Please. Please.

Todd: I really so Todd and I have been, getting together. We've been talking about this for the last six months. Mhmm. It's March in Todd's hometown of San Diego. Oh, it's still early that time.

Right. Two days, it'll it is gonna be the most packed two days of all time. We're not talking about sitting and, somebody on stage talking to I'm not talking about getting into somebody's office and, you know, talking to their admin staff. No. We're talking about rotating, moving, and getting the absolute best tools, tactics, resources for 2020.

We sat together and said, how do we get the best like, how do we have the 2020 be the best year ever for our wholesaling businesses? What do we do? So we looked at lead generation, we looked at conversion, and we looked at this position. And I'll let you

Brent: I'll I'll

Todd: I'll get you in with the with the conversion. But lead generation, we're gonna have, Annie Annie Dragonova from batch talk about, the text blasting, voice mail drops. I'm gonna be talking the the hot the best best best methods for cold calling and door knocking. We've got Ryan Dossey there who is a absolute just wonder kid that is getting deals in the biggest markets for $2,500 from direct mail marketing. We've got Brandon Bateman who's one of the top pay per click guys of all time, Chris Chico with Facebook, and Todd there talking about building a referral for lead generation.

On the Dispo side, Pace Morby, gonna be there talking about subject tos. Jamille DMG talking about building your cash buyer database. You're gonna be talking about, what was it, the the, dispo oh, a seller financing.

Brent: Mhmm.

Todd: Right? Different tactics for, for exit strategies.

Brent: Mhmm.

Todd: So it's not just wholesaling. And, in the middle squeezed in the middle of that is Todd, and we're gonna certify people in the seller presentation so that you can convert more deals.

Brent: Right. So the biggest thing is that that we're really gonna be focusing on that conversion side. I mean, we think that is so, so, so important. And so big part of that workshop is going to be forcing people out of their comfort zone. Right?

And to remove that shell to role play, to go through each part of the southern presentation to say it until at the end of those two days, they're like done. Yep. Just done. Right? So the space is gonna be open.

They're gonna be rotating. And so no one's gonna leave there without significantly upping their game, which we're just Wholesale certified

Steve: We're talking about reps. Reps.

Todd: Wholesalecertifiedpro.com. Wholesalecertifiedpro.com. Literally, it is the smallest group of all time. I really hope that you guys everybody in the TTP family, if you guys need like, come on. Everybody that's done no limits, everybody thinks like this is going to be so bananas.

It's gonna be good. It's gonna be incredible. It's gonna really set a new standard. We love it. We love bringing all these people together.

We love making sure that you get the best resources.

Brent: Yeah. I'm also really excited about Chris Chico too. Yeah. And he's kinda like, he's kinda everything he does is kinda undercover, although he's got a big YouTube channel. But, he's always looking to, extract, like, the latest marketing channel.

Like, if he's like, hey. This doesn't work. You know, he's like the first one to be like, oh, direct mail dude is faded. Yeah. Right?

Yep. You know, he's he's onto something. He vetted the cash buyer postcard, which we still use to this day. So I'm really looking forward to having him there too.

Steve: Well, I think that's exciting. I don't

Todd: think so.

Brent: I think the selfcertifiedpro.com.

Steve: So there should be nothing left to question. Right? You should have Well everything.

Todd: This is it.

Brent: Well, let me say this, is that that I think we're eliminating almost everything that that doesn't matter.

Todd: Yep.

Brent: Right? So if you're new and you were, like, overwhelmed and you're like, oh my gosh, this and that. I'm like, no, no, no. Acc generating leads, conversion, dispo. Mhmm.

And when you give them exactly what they need to raise their game in each one of those. So when they leave there, not only important skill which they need to master, okay, is significantly elevated. Okay. But they they have eliminated the overwhelm, eliminated the confusion, eliminated the shiny objects that they know. I'm gonna generate leads.

I'm gonna convert those leads, and I'm gonna maximize those for maximum profit. And that's really where this came from and the passion, the energy because we want you to do more deals. Yeah. We want you to have more money in your pocket.

Steve: Yes. Alright. So so I think that's awesome. Yep. Few more questions here.

Todd: Yeah. Let's

Steve: go. Manley Hines, is Brent or Todd still locking deals up on the phone, or are you going to appointments?

Brent: Oh. Good

Todd: one. Well I know what you're doing.

Brent: What am I doing?

Todd: You're getting them on the phone. Yeah. Yeah.

Brent: We're we're getting them on the phone, but we have one dispo guy who he just he's really, really, really good in person. Mhmm.

Steve: So it

Brent: is a mixture.

Steve: Right? We we

Brent: we can lock him up on the phone. I love it. But, you know, it comes down to, if you're in your local market Yes. And you're there Yes. Get face to face.

Todd: Get face to face.

Brent: Not to do it.

Todd: Who who's that Manley?

Steve: Manley Hines.

Todd: Yeah. Get in get in front of them. If if they are if if you're not doing it virtually, if you're able to to get there, get in front of them. I would I I've driven to Flagstaff for an appointment. Okay?

Because it was a smoking deal. I knew they were older. I knew that if I got in front of them, we would lock it up, locked it up, make $30.40, 50 thou I mean, it's yeah.

Steve: Brent Daniels. Yeah. Drew the drove the flagstaff.

Brent: Yeah. That's what

Todd: we do. I have a cabin. Yeah.

Brent: Yeah. Yeah. But but, you know, that being said, right, is that if you decide to be in a virtual market Yeah. Right, Don't let the fact that you don't have boots on the ground. In fact, although don't let that you could hire boots on the ground, right?

But the you build up that muscle, right? So for me, I have built up that muscle that I don't really like to, you know, I don't really like to drive or or leave the house too much. I'm kind of a homebody. Yep. Right?

So, and you know, and your team, but I've trained them in their virtual markets just lock it up over the phone, right? And then use a notary as your boots on the ground. I mean, really like who's trying to go out there, right? Close the thing and then train your notary out there. Your notary, by the way, you could train them to do just about anything.

Yeah. Right? Like, let me teach you how to stealth mismatch.

Todd: Take this stealth limit sales course. Yeah.

Steve: Brandon Simmons Yeah. Asked us to get Tato back into the Go Giver REI mastermind. Brandon Simmons ran runs one of the best masterminds.

Brent: Yep.

Steve: Right?

Todd: Yep.

Steve: So that's how we we reconnected.

Todd: That is.

Brent: That sounds awesome, man. Where's my invite?

Todd: You're you just got it.

Brent: Alright. Come on.

Steve: From from Brandon himself.

Todd: I know. Thank you, Brandon.

Brent: Love that.

Todd: There you go.

Steve: Alright. So, what do you guys do when the seller puts you in a bidding war? So that's Oh.

Todd: A good one.

Steve: Look at you here. So, you know, I got I got this offer from Brent. Yep. You know, it's a 80,000.

Brent: I got

Steve: two other investors coming. What's your offer?

Brent: Well, remember, you gotta remember what your time is worth. You gotta, know what your emotional energy is worth. Alright? And so the biggest thing is either that's real or it's not real. Right?

So what I'm gonna do immediately is I'm gonna throw my stealth mismatch. Right? I can tell you most likely. Right? I don't know who these investors are.

I don't know their credibility. I don't know how long they've been in business. They could be great. They may not be. But I know I'm probably not gonna be able to be at the top.

Right? Is there even a reason for us to meet? And I'll throw out that out there. Right?

Todd: By the way, I love did you see it, like, kinda tearing away the confidence of that other offer? I don't know how long they've been in business. I don't know how many properties they buy. Right.

Brent: They're you

Todd: know, they they might be good. They might not.

Brent: Well, I noticed I did they might be great. Yeah. But so I I went the opposite way. Well, what do you mean they might be good? And they're not great.

I'm like, I don't know. Yeah. So, and again, I exaggerated that.

Todd: I love it. Yeah.

Brent: Yeah. But, you know, it's you keep it natural. Right? Now the part of this is you also may wanna dig deeper. Mhmm.

Right? And say, well, what else is going on there? Right? Because they may say, well, look, I want post occupancy for six months. Boom.

Almost at the table here. Boom. Yeah. Right? And so now I found something that no other seller was able to get rid of.

Right? And by the way, if you join venture, if you've got the money in place, and this is something that we're getting really, really good at. We're putting together, like, monster, monster, monster deals Mhmm. Right now on commercial stuff. Line up money.

Line up money. If you should have to close a deal, right, you can find as I do that, close it. Yeah. Right? But you can give someone an occupancy for six months or a year or whatever they want if the deal

Steve: Numbers make sense.

Brent: Is if the numbers make sense. And that might be it. And they might be so scared because everyone's throwing numbers at them. Right? Because of the way if all the inexperienced people have no sales skills, all they know how to do is throw numbers and they're not listening.

Mhmm. So just find out which one you have. Now if there's, like, 2 or $3,000 on the table, I'm not going out there. Please, if you're listening to this, don't go out there. I have a couple of wholesalers in my market, and and and and God bless them.

But they're like, I'm gonna go out there so that I can make that, and I'm gonna just it's one more deal that they don't get, and I'm gonna put them out of business. I don't focus on my competition. Yeah. There's a million things that I can do better, right, to work on me. Right?

So I'm gonna fix those first before I worry about my competition. So just, you know, be mindful of your time. And if they say no, if they reject your offer, if you decide not to go out there, guess what? FedEx an offer. Mhmm.

Right? It might get accepted. You never know.

Todd: And watch it because what some people do is, oh, you've got another offer from who? Mhmm. And then that seller is like

Steve: Well, I used

Brent: to hear you talk to somebody else.

Todd: So who who's it from? Oh, is it all cash? Did they give it to you written written? Yeah. Did you sign it?

What title company are they using? Yeah. You know, and you start getting specific, and then it turns into this whole thing where

Brent: you're Yeah. Yeah.

Todd: Friction, friction, friction, friction. So don't do

Brent: that. Yes.

Todd: Don't do that. Be like, okay. Great. Confirm approve. That's excellent.

Okay. Great.

Brent: Well You know, the only person that might work with is, like, that high d personality. Right? Of course. And you're like, you know, and if you let them win in some way Yep. That's fine.

You can sense that, but that's a really, really good point. Yeah. If you tension is the enemy of of a deal. Mhmm. So you have to learn how to move the sale forward.

Right? But it's almost like a Yeah. You know, it's like it's like like it's almost like a

Todd: That's good.

Brent: Yeah. Right? Wow. But you're you're got the the body flexed, but you're not going backwards. Right?

Yeah. I love it. I love it.

Steve: So I think, you know, I would look at this.

Brent: We gotta teach that dance move, by by the way. Hold on. I'm on pro.com. I'm safe. Yep.

Steve: So I think one thing I wanna add to that because I love what you did there. Right? And so we do something similar where we just say, that's great. That's a good offer. You should sign it.

Yes. Alright. You should sign it. And they're like, well, I don't know. I was like, I mean, what's I'm I'm just kinda confused.

Like, that's a good offer. Like, what stopped you from something? Let them tell us what's wrong with that offer. It's like, oh, whatever. It's like,

Brent: oh, yeah.

Steve: I that's I can see why it's a problem.

Todd: Got it. Well, it's interesting.

Brent: They got it. You I can tell you probably have a couple 100,000 reps. So Well,

Todd: let me let me ask you guys this, this, and and this is just for my own education. So what would happen with me is they get they tell me they got an offer for 80,000. I know that I I really wanted for 70, but 70 would make me 30. 82 can make me, you know, 18. Right?

Brent: Mhmm.

Todd: So do you guys ever go in and get the get the if I come over and I can beat that offer, are you willing to sign the paperwork with me tonight? I used to. Okay.

Steve: Used to.

Todd: Okay. Not anymore?

Steve: No. Why? Because we don't do this this is that hard to close. Right? So it's like, I don't know.

I don't know if we could beat it. K. I don't know. I'm not even sure. And that's something we're gonna buy.

Yeah. Let's pretend we could work something

Brent: out. Mhmm.

Steve: What would happen next?

Brent: Yep.

Steve: It's never will you sign. It's we never asked that question. It's always like, if we could do that, what would happen next?

Brent: I mean, I I can't I can't stand that term. Will you sign? I mean, because we've had our acquisition specialists say that, and I'm like, I almost have, like, a epilepsy I

Steve: wanna throw a chair here.

Brent: Right. Yeah. So because that just caused tension. Right? Will you sign?

It sounds like I'm I'm chasing you.

Steve: Yeah. Awesome.

Brent: Right? Yeah. Where it's like, you know, you wanna say, look. Before we even get into price, right, I'll come back and I'll take control of the conversation. Right?

I'm not even saying if I could, but let's say I could get to that. What was the price you said? $1.18?

Todd: Well, it's called 82.

Brent: What what if I could get to that 83? And I'm not saying I could. Right? But what if I could get to that $80.83 that you were talking about? Right?

Range technique. Right? What what would even be the next step? Mhmm. And I might even because a lot of people will do that.

Todd: Yeah.

Brent: And they'll rush out there and they're like, well, I gotta talk to my sister.

Steve: Yeah.

Brent: Right? So, you know, I love the the, all these cushions and

Todd: the What would be the next step?

Brent: Pullaways because it also they reveal these hidden objections. Mhmm. And a lot of your competition, again, they're not beating you on price. Right? They're they're it's a time war.

It's a time war. It's you versus you. Because now they spend three hours dealing with this person who never would have done that business. You wanna beat them? Value your time.

Yeah.

Steve: That's huge.

Todd: I love that. I don't even know if I could get you 83. Yeah. But if I could, what would be the next step?

Brent: Yeah. Yeah.

Todd: Oh, come on. Dude, is this getting, like this should be, like, you gotta rev this. Right? Oh, you do do blog this? Yeah.

Oh my gosh. Guys, listening to this, watching this, if you don't, like, download the the vlog, this is incredible. You guys are the best.

Brent: This is awesome. You guys are the best. You guys are the best. You guys are the best. You guys are the best.

You guys are the best. You guys are the best. You guys are the best. You guys are the best. Yeah.

Steve: But I think that that taken away. Like, that's that's the biggest piece and, and ask him, like, oh, so we that's a great offer. So when you signed it, when are you guys closing?

Brent: Like, that's a good one too. But that but that's, that's a,

Todd: Party, man.

Brent: A stealth mismatch. Yeah. Again, when you signed it.

Steve: Yeah. When you signed it, you're like, I was like, why not?

Todd: Are people enjoying this? Are they are they commenting?

Steve: We're getting some likes.

Todd: Yeah. Okay.

Steve: Good. So it was good.

Todd: I hope people are getting this because this is really the conversion side of it. I'm telling you, these techniques.

Brent: These And listen.

Todd: Here's the thing. I think people look at this thing like it's an overwhelming Mount Everest. There's only gonna be what? Maybe, like, really consistently, maybe a dozen true objections that you run into, maybe 20. How about you go on these appointments?

You write down these objections. You talk to the best people that you can around. Write two responses to it and practice.

Brent: Mhmm.

Todd: And practice your tone

Brent: Mhmm.

Todd: And practice your pacing and practice being able to do it. So when it comes out, you're not practicing live in for on on an appointment.

Brent: Yeah.

Todd: You know what I mean? Yeah. Like, role play with people. You love that.

Brent: Well, I love role playing. Right? And, you know, we're gonna do a lot of that at the event, but the the one thing thing I would say is if you're overwhelmed from anything that we talked about, you don't need to know all of this.

Steve: Right. You know?

Brent: Right? You can just take there's take two things. So I'll just give you a couple action items that you could try today.

Todd: Love it.

Brent: Okay? Yep. And I use this with, someone, well, I use my wife all the time. Right? Because it always always evokes more talking Mhmm.

For my wife. Okay. Right? So ask me ask me a question.

Steve: Where we going after this?

Brent: I don't know.

Steve: Are we gonna go grab some coffee? Or Go back to Brent's office?

Brent: Or how are you feeling? Are you feeling tired?

Steve: No. I'm not tired.

Brent: Okay. Because you yeah. Did you is there a reason why you asked me about coffee or

Steve: I don't know. I just wanna hang

Brent: out. Oh.

Steve: Spend some more time with you guys.

Brent: Okay. Cool.

Todd: So your response

Brent: is I don't know? No. Well, no. My only response is I don't know.

Steve: Yeah. It is. Right.

Brent: It's magic. And so who who start when I said I don't know, who started talking?

Steve: Me. Yeah.

Brent: Yes. Yeah. Right? So you don't want coffee, but guess what? I learned that you wanted to hang out.

Steve: Yeah. Right.

Brent: Right? And so

Steve: The redirect.

Brent: It's just the redirect. So if you like, and I'm it's not the perfect redirect. Mhmm. But what I'm saying is if all of a sudden you get stuck, they're like, today. Oh.

They're like, oh my gosh. What happened? Just say I don't know and then shut up. So that's just like one rookie's mistake. Like, if you're on the football field and the defense is going crazy and you just wanna hand it off to a running back.

Right? The I don't know thing is just like that one key thing that I wanna give everybody.

Steve: Love it. Yeah. Oh, it's magic. It's amazing how, like, I don't know. And, like, what do you

Brent: mean you don't know?

Steve: And they'll they'll they'll tell you what you need to know. Yeah. It's magic. At the

Brent: very least, it's gonna buy me time to think of something to say.

Steve: Vance Courtney wants to know when you're saying an offer, is it does it matter if it's DocuSign?

Brent: Vance is coming. Come on, Vance. Vance is coming,

Todd: to the, yep.

Steve: Does it matter if you DocuSign, email, or snail mail?

Todd: Oh, to send out your offers?

Brent: Just get it done. Well, here's what I'd say. On the offers, like, the fails the fail the fail safe. Yeah. Right.

It's always snail mail. Yeah. If you send someone a DocuSign, they're like, what is this? Yeah. Nigerian scam.

Todd: Or just delete yeah. Right. Yeah.

Brent: For sure. Right. So just that the snail mail. Absolutely. And I've deviated from this, snail mail all the way.

Yep.

Steve: Kish Asrani wants to know how many properties in Phoenix does it take on average to get a deal when you're driving for dollars? How many, I guess, how many d three d entries?

Todd: One out of 100.

Steve: One out of 100.

Todd: Yep. Yeah. But you gotta first of all, you gotta get you you have to either you you gotta talk to them. Right? So you gotta get them on the phone.

Out of those 100, you gotta figure that you'll talk it's probably more than that. Let me let me now that I'm breaking it, a 150. Because here's what you're gonna get a hold of 10% of them if you call them. So that's gonna be 15

Steve: of them.

Brent: Mhmm.

Todd: And out of that 15, you should get somebody that's gonna do business with you. Now here's the thing. It depends on what your exit strategy is. If it's subject to, if it's seller financing, if it's wholesaling, if it's flipping, or if it's buying it as a rental, you have different options. It just depends on if you know how to use them.

Remember, every deal comes down to three things, price, terms, and you. That's it. Yeah. Price, terms, and you. So, you know, if you have more that you can do that's not just price, which is wholesale flip, that type of thing, then you can start working terms, which you have just crushed and made a fortune on in California because, you know, he knew how to do it, and he he he has a background in a lot of different creative financing.

So, yeah, that's what I would say.

Steve: So Brandon Simmons says that you're one of his coaches. So big props there. He wants to know who coached you.

Brent: Man, first of all, there's so many people. Mhmm. I can tell you this. So back in, you know, lease I got in the lease option. So that was Peter Conte and David Finkel.

I jumped in their seminar and paid a bunch of money for it. You know, it's two days. Yep. Rock the room. And it was funny because, like, I just ate it up.

Yeah. I remember my wife, she's like because I had just gotten married at the time. Well, I'm sorry. I was she's always saw me, like, referring back to the material, so I bust open these binders. Mhmm.

And I mean, this is when they still give up binders. Yeah. And she's like, you really put this stuff into practice. So, you know, he's one of that. But my very first mentor was a, was a virtual mentor, Robert Allen, had the book multiple streams of income.

Yep.

Steve: Right? Amazing book.

Brent: And amazing. It's so simple, but he was like, this is the basics. Yeah. Right? And so that got me really, really, you know, just really, really pumped up.

And then what happened was is I started my podcast, geez, back in 02/2012, and I was talking mostly about lease auctions. But Sean Terry, you know, started to get a bug in my ear about wholesaling. Right? And and and so we started looking at the checks. And, you know, eleven or twelve.

Right? This is when it started to, like, heat up heat up. Yeah. So Sean was a big influence on on on the wholesaling. I mean, he taught me how to mail like a boss.

You know, I remember I was I was kinda always a friendly competition with him because when he mailed he said he mailed 10, and then I went out and put 30, and he did 50. And then one time, put in a 100,000 postcards in in LA at one point. And I'm I'm like, I'm shocked. I mean, I'm back. I did a 100,000 LA the first time out, like, with with the two reps.

Right. And

Todd: With, in a month.

Brent: In a month.

Todd: Oh, yeah. Yes.

Brent: But, no, it was like, it was one shot too on top of that. Yeah. And that was totally stupid. Never do anything like that.

Todd: Break it up.

Brent: Break it up. Yeah. So break it up. But Sean, Sean really helped me. He got me in Sean got me in a wholesaling, so credit to Sean Terry, back in there.

And then, you know, it it's funny. Michael Jake to this day, we talk about this. He's he's a out of those 15 leads Yeah. That he's gonna get that guy's gonna buy five. Yeah.

Just so you know. Yeah. And this guy's got super high net worth. You never heard of it or heard of him. Try to get him on the show.

By the way, he's not, like, he's not into the limelight, but he is into teaching and helping. Yep. But, you

Todd: know I I paid him monthly to Yeah. To mentor me for a year. Incredible.

Brent: Yeah. So, you know, really, really phenomenal. And then I've got, you know, my local mentors who taught me in sales. Right. And so obviously my Derek Clark with Pfizer, huge mentor to me, super go giver, gave everything, you know, when I was working at Pfizer.

And so I talk about the job. But I think also that is part of having gratitude of of the people who are in my life.

Steve: Gratitude is such a, under, appreciated.

Brent: I mean,

Steve: you hear people talk about every once in a while, but the practice gratitude consistently.

Todd: Mhmm.

Steve: I love helping people

Brent: Mhmm.

Steve: That say thank you.

Brent: Mhmm.

Steve: And then when they tell me the feedback, like, oh, I did this and it worked. Mhmm. That's so fulfilling. And yet other people, I was like, this sucks. You know, when you said it didn't work, it's like, okay.

I'm not talking to you.

Todd: Yeah. Yeah. Yeah.

Brent: You

Todd: know? Yeah. Yeah.

Brent: Yeah. And so part of that also when you have the gratitude, like, I used to talk about how my job sucked all the time. Right? And then now I look back, it's funny. And now that I was more open to that, also, Derek was always great.

But as soon as I started verbalizing that, I started to reremember some of the sales thing, some some of the sales things that he taught me because he used to come on the field rides with me and hang out with me for eight hours. And so I'm I have a built in sales coach who's gonna hang out with me for eight hours Yeah. How lucky is that? For free. Right?

How long was that?

Steve: How lucky is that?

Brent: Oh, I'm so lucky that I'm like, oh my gosh. You know? And so it's funny. I'm writing a sales book right now. I wanna send a copy to Derek and just thank him so much.

I'll leave the forward to him. So, love you, Derek, by the way. I there's no way he's listening to this or ever listening. He's the old school, but, you know, maybe we could send you the m p three. Yeah.

Steve: Maybe a CD. Yeah. So I wanna ask you going back to what we're talking about in the very beginning. So well, first, I'll talk to, to Brent. So Brent and I, we talked about this offline.

We don't talk about it a lot online. Yeah. But, you know, we were joking about free and clear Fridays.

Brent: Yep.

Steve: You wanna elaborate with free and clear Fridays with the with the premise was?

Todd: You mean just paying everything off?

Steve: Paying everything off. Yeah. It's controversial. Yeah. Everyone looks at Brighton Me.

Todd: Like, we're,

Steve: like, the weird people. Well, I think, you

Todd: know, certainly for so I read the book, The Financial Matrix, and it basically shows the evolution of slavery from the beginning of time to now and how really

Steve: Having debt was really bad.

Todd: Well, we we all I mean, debt is really bad. But it

Steve: was slavery back then.

Todd: Right. But, I mean, it is now. I mean, people work half their year to pay their interest.

Brent: Mhmm.

Todd: That's the stats. I mean, people pay half their year. So half of your time, your your nine to noon every single day is paying the bank, is paying interest, is paying creditors, is making somebody else richer. Right? And it's it's just like, you know, having somebody as whatever.

So, anyway, so, read that book. Paid off all personal debts, mortgage, cars, student loans, credit cards, whatever. Pay it off. Pay it off as much as fast as possible. Pay it off over time.

Just Just get rid of it because here's the thing. Like, once you have that off your plate and you're not stressed from from the the bills that you have to pay and the debt that you have to pay, all of a sudden, it frees you up to actually pursue what your your your your purpose in life

Steve: Right.

Todd: Your passions in life, what really fulfills you in life. Right? And it's not just I have to do this because I gotta pay these bills and I gotta do this and that. And the problem is people get into too much debt because they wanna buy. It's a little Gary v thing.

Right? People buying stuff they don't need to impress people that they don't care about. You know what I mean? And I really think that that's a true thing. So one, I think I live off of, like, 10% of my income.

Mhmm. The rest is saved and put into, assets, into properties or invested. And so my I I don't go baller out and crazy. And two, pay off everything. I buy investment properties cash.

I just don't wanna I don't wanna worry about anything. Right. You know what I mean? So it's been it's been phenomenal. And, actually, your brother put me on that path.

Mhmm. Tom Crowell put me on that path. And how much And Cody Ofine. He paid off everything as well.

Steve: How much easier is it making decisions Oh. Where you don't have

Todd: to worry about bills? Oh, a 100%. I mean, literally, if the world melted and everything ended and all my income went away, I could be an Uber driver and live a great life, like, for real. Mhmm. And having that is you know, we get out of college, and all of a sudden, we start getting debt.

And then all of a sudden, we're like, oh gosh. Life's so stressful.

Brent: Oh gosh.

Todd: I'm tired all the time. Oh gosh. I can't wait for the weekend. I don't even know tired all the time. Oh gosh.

I can't wait for the weekend. I don't even know what day it is today. I you know what I mean?

Brent: You're saying I mean, you're saying it's on a whole other path, which is awesome. Yeah. I mean, there's so much more to talk about. Yeah. You know?

It it I have actually a little bit of different view, although it's similar. I mean, first of all, I believe in, look, get out there and produce. Yep. Income, get to work, eliminate distractions, and make it happen. Right?

Like every everyone who's struggling in wholesaling, I love you. Okay? I I I know you want better for your life, but the truth is every time I ask someone who's struggling in wholesaling, how many phone calls have you made? You know what the answer is? Like, zero or, like, 15 today.

And, like, I don't have a job. Literally, someone sent me an Instagram and said, I don't have a job. I can't find a deal anywhere. And they said they called 15 people today. Alright.

Steve: Sorry. Sorry to find a deal. Make 15,000 a day.

Brent: And and I'm like, you should be like a rabid dog calling a 100 people. Like and and by the way, the truth is, and I could tell you this, it takes 20 if you're if you're doing hand dialing Mhmm. Right? Hand dialing, it takes twenty one hour to make 20 phone calls. Yep.

One hour.

Todd: Oh, yeah.

Brent: Right? And if you were, like, really, really analytical and you don't look at the screen for an hour between each phone call, it'll take you, like, an hour and twenty. Mhmm. But I think, you know, you have and you and I both have this. Right?

And I think you you have too, is you have to have this thing that I'm gonna produce. Mhmm. I'm gonna produce and produce and produce and and and and have this crazy attitude like a starving hungry animal. You have to keep that hustler hustler edge. And you have to be in that mode at least two or three days a week.

Right? I learned this from Dan Sullivan. He words it completely different. Okay? And the other two days a week, you wanna start thinking about your future.

Right? On how do I delegate? Mhmm. How do I now grow the business? How do I make this beyond myself?

Right? And I'm gonna and and how do I maybe hire an assistant now so you can start to put so you're not gonna be grinding forever. But forget the nonsense. Mhmm. Two or three days a week, you are working like a crazy, rabid, starving animal.

And if you just do that, you're gonna make money.

Steve: Yeah.

Brent: Now I go back to that's part of intentionality. Right? You were out there trying to make money. And so Brent's plan works. Yeah.

Because it is a plan. Yes. Right?

Todd: Yeah.

Brent: It's a plan. And so a lot of these people who go out with the fancy cars and the fancy, you know, and they're always taking pictures of social media like what they're doing or the bottle service, which are, you know, I I just don't get. Right? It's like they have no their plan is living in this world of of whatever. So my advice there would be just pick a plan Mhmm.

And stick to it. Right? So I'm buying commercial property. I'm gonna buy that with debt. Yep.

Right? And, obviously, good debt and bad debt, you could talk about that, and I believe in that. Right? But I paid off my house. I drive an older car than my cleaning lady.

Right? Yeah. Right? And most of the, you know, all my friends, that's just the way I am because I see see that. But my my feedback on that is just have a plan whether you wanna live with you know, most people who live in debt or argue about the debt scenario don't have a plan.

Yeah. And they just have credit card debt. Right? So the guys who are like, I've got real estate debt and understand that and I work in that plan. I think they're gonna do great.

Yeah. Brent's plan is gonna do great. Mhmm. Right? He just had it.

Steve: Yeah. So I wanna hit a couple of things on the keeping more money aspect because I think one thing that gets missed a lot, Brent's been in business longer than I have. In fact, there's a picture I posted of him me giving him his DVDs back

Brent: Yeah.

Steve: That he let me borrow.

Todd: The Mike Ferry training system.

Brent: That's so awesome.

Todd: I gave it to him after I sold him my house and made $40.

Steve: Yeah. So about twelve years ago, I gave him the DVDs back, just recently. But, you know, Brent and I have been in business for a long time. You've been in business a long time. There's this cycle where you start and you're like, man, how do I get my first deal?

And then you get to a point where, like, I gotta do as many deals as possible. Right? And it's just about numbers and volume and units. Mhmm. And profitability gets lost.

Yep. Mhmm. And then you get past this point and you're like, okay. Realistically, I should worry about profits. So Mhmm.

Profitability. Yes. What kind of profitability should you have Love it. As a solopreneur? Mhmm.

Brent: And what

Steve: kind of profitability should you have where you're, like, doing deals? Like, you've got a business that you're kinda involved in. What should what are your targets?

Todd: Depends on if you are prospecting, if you're marketing, or if you're getting referrals. Right? So, obviously, if you're prospecting, getting referrals, you don't have a ton of upfront costs. But I don't think that you should rule out marketing if you can afford it, when you can afford it, to be consistent, to get really big deals. So I think that if you're if you're just prospecting and you're you're getting referrals, you should be able sorry.

You should be able to to keep 80 to 90% of what you earn. Right? It shouldn't cost you much to buy data. It shouldn't cost you much to to get the the technology you need to make a lot of calls, and it shouldn't cost you anything if you're getting referrals. Right?

Right. From a marketing standpoint, I don't know. I think that once you start I think that a healthy business, once you get to you know, once you're hiring people, if you can keep 40%, I think that's a really good business. If if you're not having to get in there every single day and work it, work it, work it, work it. Yeah.

If you've got acquisition managers, if you've got dispo, if you've got lead managers, whatever. And I'll I'm curious to hear your answer, but I also think that one acquisition manager can do a million dollars worth of deals. So this having thousands of acquisition managers that come in and out all the time, I don't think it's a smart, smart idea. And I think that you could set it up so that, you have somebody in house that blasts to your buyers list, builds your buyers list, and the acquisition manager actually negotiates with the final buyer and can dispo it too. So Mhmm.

Just ways to save money.

Steve: 40%. 40%.

Todd: That was a long answer to get to 40%.

Brent: No. I mean, I I agree with Brent. Right? Because the biggest thing is, first of all, if you're a solopreneur, you're gonna be negotiating great deals. Yep.

Right? Great deals. And San Diego, it's crazy high to get deals. I mean, it's, you know, $75 Yeah. To get a a deal from direct mail Yep.

Right now. But if you make it 50, right, well, what are if you make 50

Steve: Is that crazy high? That seems reasonable.

Brent: $7,900? For California. No. It's about right. I mean, but I mean, you know, that's about what?

You know,

Todd: Whichever is deal.

Brent: 20,000. Cards. But, you know, my average assignment is gonna be 40 or 50 if I if, you know, if it's less than 40, you know, I'm good seeing a therapist. Right? I mean, just just because the the market that's just the way the market is.

Right? And you you gotta know that. Right? But over time, if you're working that, you know, what happens, people also mess up their profitability. Right?

And they don't know what it looks like. So I know it's hard to hear this if you're just joining the game. But let's say you have a year, and you spent $35,000 in direct mail. And you made a 120. Yeah.

Right? And you're like, okay. You know, my profitability was, like, 40 or 50, and Brent said it should be 80 or 90. And you're like, okay. I'm not feeling so great about this.

But what can happen is that that deal now pops in year two. It could pop in year three three. Yeah. I don't know what's happened with us. Right?

But we've closed three deals that have been in our database for six years in the last ninety days. Right? I shouldn't say that's actually through we started texting the database. Right? And, of course, those people

Todd: You start freshen them up.

Brent: You you start freshing them up. Mhmm. Right? But that those direct mail campaigns that look like they bombed, right, now look great. Right.

Okay. So let me say that. So I think that you should be running though definitely above 60% if you're a solopreneur. Right? Because if you're if you're not running at 60%, as soon as you start hiring people, you're toast.

You're gone. You're gone. You're gone. You're gone. Right?

So you're you don't even know how to do what you're trying to do, so there's no way you're gonna hire somebody else to do it. Yep. Second part is

Steve: Crucial point. Yep. People miss that. Yeah. Because they they really wanna abdicate as quickly as possible versus delegate effectively.

Brent: Abdicate versus I mean yeah.

Todd: Well, I think a lot of people, don't understand that you need to be a leader.

Steve: Yeah.

Todd: Like, you need to have leadership skills. It's not I'm the valuable. I'm the boss. You have to have that extreme ownership

Brent: Mhmm.

Todd: Like Jocko's book that says, listen. Like, I'm responsible. I I work for these guys. Right? Not the other way around.

And I need to be able able to to be comfortable with their whole financial situation in the palm of my hands. Yeah. This is their family. This is their livelihood. This is everything.

Sometimes it doesn't work out. You know? Sometimes it doesn't you know? You you you bite off more than you can chew. But you need to have, leadership skills, and you need to really develop that and either take some classes, find out about it, find great leaders, you know you know, have some mentorship there, and then get into it.

If you just start hiring people and then it's going and it's wild and it's this and that, and now you're distracted with training, I see it all the time.

Steve: And it takes away from prospecting.

Todd: Of course.

Brent: It takes away from

Todd: prospects. Away from everything. Yeah. Takes away from your sleep, takes away from your family, takes away from your exercise, takes away from everything once you start hiring everybody and you don't have a plan, leadership skills, or somebody that's gonna do that for you in your business.

Brent: You know, even adding to that. Right? One of the things I noticed about Brent that he does so good is that this guy in his companies, he's in it. Mhmm. Can you tell this guy is in it?

Like, are you He

Todd: sees it.

Brent: But his people, they know that Brent is in it. Right? I mean, he loves the company and he's for them because of his people. I I sense it when I walk in.

Steve: I'm always surprised that he's there whenever I go to their office.

Todd: Yeah. Yeah.

Steve: I assume that he's not gonna be there. Yeah. Why is he there? Yeah.

Brent: Well, his people wanna, you know, work hard for him and so that that's something that you gotta your people aren't gonna be like, oh, this guy's paying me, so I'm gonna make him all this money so that he can make a 100% profit if he can go golf. They can't feel that way. No. They can't feel that way. Right?

They gotta feel like you're there for them, and it does not a little trick is it does not mean that you need to be there forty or fifty hours a week. My dad used to do this. I know we're getting

Todd: This is great. Tracked. This is great. This is the best, Steve.

Brent: I told you the story. Yes. So my dad had this big office, a big telemarketing offices. I'm missing, you know, you used to crank out 8 to $10,000,000 a year net for my pops. And at one point, he decided he just wanted to preach anymore, and he was really tired of the business.

But he was smart. And then he's like, the people gotta believe that I believe. Right? Right? And he went there.

So my dad, he used to go to the rec center and work out for three or four hours a day, just sit there and shave and talk about sports and whatever. Right? And then he used to go to his office, but he used to dress up in like a pinstripe three piece suit every day. And he used to go to the office and he go, go, hey, guys. How are you doing?

Get everyone excited. Right? And it looked like he's been working all day because he's in the suit. You know? Yeah.

But he probably you know, when you have to work out and you still have to be the swim.

Todd: Oh, I feel like that now over here. It's always warm.

Brent: He used to go in there and he used to train everybody, get everybody excited for about forty five minutes. Right? Blah blah blah. And he'd be like, alright. Can I talk five?

Blah blah blah blah. Love it. You know? Love you all guys. How you meant, you know, tomorrow, if you need anything, I'm here.

Blah blah blah. And, you know, and he'd say that. Then he used to go in his car, take off his suit, go fishing, go preach him. Right? And, you know, it doesn't need to be every day, but he was his his the way that he presented himself and the action he was for the people and building them up.

So it does not mean that you have to be there forty hours a week. Let me just talk about profitability right now, and I'd love because you got a lot of experience in the show. When we started to see the market shift, because at one point we were scaling. I started a lot a lot of wholesalers call me. And one of the things I do is I'm like, let's talk about the P and L.

And don't lie to me.

Todd: Yep. You

Brent: know, tell me the truth. Right? So all the guys with the big teams who are purely wholesaling and generally, purely wholesaling, right, I noticed they were all starting to really, really, really feel the pinch. Right? They were starting to go broke.

Right. And I'm talking like, you know, the four or five acquisition managers, especially like the four or five different markets. Right? Now the guys that you're here are doing, like, you know, well and scaling or they're buying and holding real estate and flipping, you know, and they're doing I I'm a big believer in holding real estate. Mhmm.

Right? So I I recommend that, but I've seen, you know, they're they're looking at less than 20% profitability the way they go. And that's about right. Most businesses, it's like once you start to scale Mhmm. Right beyond that 1,000,000 mark, you gotta go all in to the 10,000,000.

Right? And you could scale that to 20 or 20. You gotta be okay with making 10 and keeping two. Mhmm. Right?

Once you start to go in that middle point, when you start to take on overhead and revenues and grow Mhmm. You're toast. And I think I do every one of those three phases is okay. Right? But you just gotta decide what you wanna commit to.

Yep. Yeah.

Todd: And how much stress you want? How big of a space do you want? What do you wanna commit to? How long do you wanna do it?

Steve: How much are you willing to sacrifice?

Todd: Yeah. Of course.

Brent: Yeah. Yeah. Yeah.

Steve: So real quick, sum up. What's the event? When is it? How do they sign up?

Todd: Alright. Wholesalecertifiedpro.com. It's March. It is San Diego. What else?

Brent: San Diego. Wholesale certified pro. Just they they go there. They wanna go in. They can watch a quick video and then learn more if they wanna, apply.

Just click on if it feels good as Brent says, then then to get on the phone with, hop on the phone with Derek, and he'll talk to him and see if it's fit.

Steve: Yep. Alright. Perfect. So I'm gonna let you guys think about what you wanna leave the listeners with. K.

Guys, we got next week, we got Chris Noggle coming in. He's gonna talk about how to be your own private money lender. Kinda crazy, crazy, the things that they're talking about. Really fascinating to watch him speak at Skill of Thought in New Orleans in December. So he's gonna come on and talk about how to be your own hard money lender.

It's really impressive stuff. That's so that's next Wednesday. Last thoughts. Who wants wants to

Todd: go first?

Brent: Age before beauty. You know, the one thing that I would say is, wherever you're at in this business, don't overcomplicate it. Yep. Right. You can do it.

Remember, it's about three things. One, generating leads. Pick one or two marketing channels. Two, convert. You can do anything if you can learn how to convert.

Right? If you if you don't wanna spend any money on marketing, you can just negotiate, meet with our wholesalers, get their deals, and sell them to the buyers. If you are totally broke, living homeless on the street, you could do that right now. And then three, exit for maximum profit. Right?

If you don't have a buyer's list, partner with a guy who can actually extract the maximum amount of value, or or know another exit strategy, but go and do that. Don't over complicate it. Yes. You know, and so just make it happen.

Steve: Awesome.

Todd: The foundation of this business is sourcing real estate opportunities. That's it. You learn that skill. You learn that ability. You you learn that process, lead generation, conversion, disposition.

You learn how to source real estate opportunities. You win. You can do anything. You can go in any different direction. You can go land.

You can do commercial. You can do residential. You You can do multifamily. Sourcing the deals is the foundation of this, and the key to that is consistent quality conversations with distressed property owners. That's it.

It's simple. At the end of the day, at the end of week, at the end of the month, at the end of the year, there's one question, Steve. Did I have enough quality conversations with distressed property owners to hit my financial goals? That's it.

Steve: That's it.

Todd: It's that simple. Simple. Thank you, Steve.

Brent: People.

Todd: That was awesome, dude.

Brent: Awesome. Really great. Over here.

Todd: You're the best, dude.

Brent: Thank you guys for watching. Nice.

Todd: That was good. Yeah. See, we real estate disruptors.