Sell Deals Faster & For More Money Using AI In Investorlift

Robert Wensley: The whole idea with InvestoLift, the thesis, was let's build a product that allows us to build collective intelligence

Steve Trang: Yeah.

Robert: And share it. So everything that everyone does builds the intelligence of the system, and every user is their work in the system, is building the intelligence of the system that then every other user can leverage.

Steve: Right.

Robert: You see that in every feature. Every feature we've ever put out Mhmm. God mode, built on that principle.

Steve: Mhmm.

Robert: Cartel mode, built on that principle. And now Artemis mode brings the best of both god mode and cartel mode together Yeah. To leverage the collective intelligence of all the top players in the country. Every time you add any of us as an interaction, it's getting smarter and everyone else benefits from it.

Steve: Everybody, welcome to another episode of Real Estate Disrupters. Today, we've got Robert Wensley flying in from Puerto Rico. Talk about all the crazy AI change that are coming up inside investor lift to help us do more deals faster for larger margins. Super excited about that. Guys, we're on a mission to create a 100 millionaires.

The information on the show alone is enough to help you become a millionaire. In the next five to seven years, you'll take consistent action. You will become one. We also know the fastest way to become millionaire is to get really good at sales. So if you're interested in getting better at sales, being surrounded inside a sales community with other people killing it nationwide, join us in our community, salesdisruptors.com.

And the show is brought to you by our sister company, Investor Lift. Get access to millions of cash buyers from across the country. Go to investorlift.com, put in disruptors to get 10% off. And, guys, if you get value today, please hit that subscribe button. We need to gain the algorithm, and the only way we can reach more people to become more millionaires is to subscribe and tell YouTube that this video is good stuff.

You ready?

Robert: You ready to break the Internet again?

Steve: Let's break it again. Let's do it.

Robert: Thanks for having me on.

Steve: Oh, man. I've been looking forward because I've been blowing you up. I was like, guys, Robert, we gotta get you on, talk about, like, what are the latest changes.

Robert: Oh, so much exciting stuff has been happening.

Steve: Yeah. So, you were

Robert: Last time I was on, I think we I think we have the fourth most popular show in real estate disruptors today. I believe so. Today, we're going to number one.

Steve: We're going number one. Yeah. So watch out, Max Maxwell.

Robert: Watch out, Max. I'm sorry, Max, for taking your spot. I apologize. I love you, man, but we gotta take the top spot today.

Steve: So one thing that, we just had closed the Olympics. Right? It was a great show. RJ Bates took top closer. Right?

And then you guys sponsored it. Absolutely. And during the sponsorship, you know, in in the commercial, you're talking about Artemis. Yep. What the heck is Artemis?

Robert: Okay. Artemis is absolutely the same. Before I dive into Artemis, let's talk a little bit about Closer Olympics. Alright. Okay.

Because a lot of people don't know the full story. You you noticed we did something different this year. We did dispo day.

Steve: Dispo day. Oh, yeah.

Robert: Which was insane. So Elijah calls me up, and he's like, Robert, I want you to sponsor Closers Olympics. Mhmm. And I love anything that's real. Right?

I only sponsored two events this year, Wholesaling Live Mhmm. Which we just had in San Antonio, and Closer Olympics. The reason why I only sponsor those two is because it's the real deal. Yeah. Right?

I don't like the events where it's just like someone up on stage trying to, like, get you all excited and get you motivated. Tell you their stories or pitch you. Like, I'm like, dude, I'm already motivated. Okay? Just, like, show me how to close.

Steve: Alright.

Robert: Show me how to close. And and that's why I I backed those two events. But when Elijah called me up, said, Robert, I want you to sponsor the event. I said, okay. Look.

I love the format of the event, but there's one thing that's missing. Like, have you seen the chatter online about closed Olympics? The where you guys get criticized, and I think rightfully so, is a lot of times people are signing stuff up. That is not really a deal. It's only a deal if you can sell it.

Steve: Right.

Robert: I said, what I wanna do is help you improve the format. And the way to improve the format is to do a dispo day.

Steve: Mhmm.

Robert: And here's what I wanna do. Let's just do a trial this year. Let's have three guys, forty five minutes each. Let's have them sell deals live. Right.

Elijah says he's like, okay. I'll I love that, but there's one thing I'm worried about. I've never sold a deal in forty five minutes. I don't know anyone else that sold a deal in forty five minutes. What happens when all three people go?

What happens if none of them sell a deal? You're literally putting the reputation of yourself and InvestoLift on the line. If no one sells a deal, like, I don't wanna be responsible for tanking the best of a brand. Oh, shit. Yeah.

You know what? It really is high stakes.

Steve: Mhmm.

Robert: Yeah. But we have this new thing called Artemis mode. Mhmm. In the last five times, I've sold a deal. I've been able to do it in under an hour and a half.

And three of the five, I've done it in under forty five minutes. So, you know what, it is high stakes, but screw it. Let's do it. Right. And if you guys if you guys have not watched that, if you have not watched this day, watch it.

Everyone afterwards was like, that was the best content in Closer Olympics history, period. Better than my judging? Your judging was incredible. Absolutely incredible. But what happened is we had three guys go.

Elijah wanted to pull in one guy that was not on Investo. So we had one guy that came in off of Investo. We did give him an Investo account and trained him and everything. But halfway through, he kind of choked and started going and calling realtors off of Zillow. And, like, I'm like, okay.

You're not selling a deal in forty five minutes. Yeah. You know, he's calling a realtor, and he's like, I need an answer in forty five minutes. Like, no. I I need a couple weeks.

My clients don't move that fast. Yeah. We had someone from Donovan Ruffin's team

Steve: Mhmm.

Robert: Come on. She sold, she made, over 20,000, and then we had the HBHS guys. You know, HB uncle Charles

Steve: Oh, yeah.

Robert: Mike? Hustlers. Absolute hustlers. We had Steve Francis from their team come on, and he gets an offer on a deal. And he's gonna make, like, 20,000 or so.

And we're like, oh, he's got an offer, like, five minutes in. Is he gonna jump on it? He goes and he hits Artemis mode and keeps on working it for another twenty minutes, moves his assignment fee up from, like, low twenties up to 67,500.

Steve: Oh, wow.

Robert: And then still has enough time on the clock to sell another one. So in total, the two investor of guys, in in an hour and a half, made a 121,000

Steve: Wow.

Robert: $500.

Steve: Yeah. That's pretty solid.

Robert: It was a master class on Despo. Complete master class. The way they were pushing urgency Mhmm. It was a complete master class. If anyone is watching this and you have a dispo team, watch the recordings.

If you're on InvestoLift, we actually after it, I bought the recordings from him.

Steve: Mhmm.

Robert: And we're putting those in our knowledge base so every single team can watch and learn how they did that.

Steve: Yeah. So if you're an InvestoLift client, you already have

Robert: it. You're gonna have it. Yeah. Yeah. So Artemis mode.

What is Artemis mode? The reason why I went into this with so much confidence is because I know how powerful Artemis mode is.

Steve: Mhmm.

Robert: Tell you a story of how we came up with it. I had a friend who lives in the same building as me in Puerto Rico, and he has this deal, and he was really struggling in cash. Like like, q four, q one, people really got hit hard.

Steve: Yeah.

Robert: He's really struggling. He gets this deal under contract. He calls me up. He's like, Robert, if I can sell this thing, I think I'd make a $100,000. Mhmm.

I bought really deep on this deal, but I don't know how to sell it. Can you please help me sell it? I said, alright. I'll help you sell it in one condition. You'd let me film it because it'll be a great content.

Because if we sell the deal live, it's gonna be a great content.

Steve: Yeah. It'll

Robert: be a master class on Despo. So he said, alright. I'm coming over tonight. So he comes over, and I'm expecting it to be, like, you know, a decent deal in major market, whatever. Like, this guy's a major market wholesaler.

It's a freaking trailer park. K? Like, the five trailers, nineteen seventies, never been renovated, falling apart, and it's in the swamps in Florida. You know how hard it is to move trailers in a swamp. Yeah.

That's the hardest deal to dispo. Like, bro, you're not making a 100,000 on this. In fact, you'd be lucky if you sell this.

Steve: Right.

Robert: But if we did sell this and we did record this, that would be incredible content because this is the hardest type of deal to sell. And if we could sell that and record it, then, you know, that could be good content. So screw it. Let's do it. So we start calling buyers on InvestorLift.

We go for five hours, and we get maybe five mediocre leads. After five hours, I'm like, bro, I I do not think this thing is gonna sell. Come on, man. You're you're the CEO of investor. If you have billions of data points, there's gotta be something you can do.

Steve: Right.

Robert: Think about it for a second. Like, wait a minute. I have some stuff that other people don't have. Sheik's filming. I'm like, sheik, pause the cameras.

We're gonna cheat a little bit here. On the bottom of each deal, you can see the 10 deals near nearest deals sold nearby on InvestoLift.

Steve: Right.

Robert: So scroll down to the bottom. I open up those 10 deals, and I look at the names of the display managers. Now I have a feature that no one else has, the ability to impersonate a user. Mhmm.

Steve: So

Robert: I go and I impersonate those users, and I go and look at who made the offer that was accepted. Mhmm. And I call those 10 guys, and in fifteen minutes, we had that deal sold. Mhmm. And I was like, this is so powerful.

Steve: What does impersonate a user mean?

Robert: That means, like, I could literally log in as you Mhmm. Without your password. Like, we use it to, like, help troubleshoot or train people. They're like, oh, I'm having trouble with this deal. I can just impersonate you and go into InvestLift as you see all your deals, steal your data.

So I was like, wow. This is powerful. I'm like, instead of trying to hide this, why don't I just give it to all my users? Mhmm. So that's exactly what we do with Artemis mode.

With Artemis mode, every single person that looks at your deal, you can see a list of everyone. So you do your deal blast, and the question is, okay, how many people are actually interested in this? They're not all gonna pick up the phone and call you. You gotta go and actually

Steve: work out.

Robert: You gotta hunt. So it's your hunt list. It's your kill list of who to go after on dispo. You got all the names of all the people that looked at your deal, but then we also do things like we track their mouse movements.

Steve: Mhmm.

Robert: We tell you how much time did they spend on the deal. If someone spent twenty minutes on your deal, you know, that's an interested interested buyer. If you got 30 photos on it and you see that they click through 90 photos Mhmm.

Steve: You know,

Robert: they've looked through all the photos three times over. We even track how many times did they click back and forth from browsers.

Steve: Mhmm.

Robert: You see property views six. You know they've clicked back and forth six times between tabs. You know they're comping out the deal. Mhmm. And then so we give you that list, stat ranked, showing you the most interest

Steve: at least. Switching tabs.

Robert: How insane is that? So it literally gives you the ability to stock your buyers, see everything that they've done. But then we don't just give you that. K? So everyone on every plan gets that.

Any of your buyers that hit your deal, you can literally stock them and see everything. But then I was like, let's take it one step further on the highest plans of InvestLift. You can see all the deals sold nearby. You can click on them, and you can see their Artemis mode buyers list. Mhmm.

So the people that bought those deals Mhmm. You can just call them just like I did on that deal.

Steve: Right.

Robert: The five hours of work that I did in fifteen minutes, you can now do that on any deal in America.

Steve: So explain that again. So you got a deal that you sold, and you can look at their Artemis list.

Robert: You have a deal you wanna sell. Mhmm. You can see all the deals nearby that were sold. Mhmm.

Steve: And

Robert: you can see every single buyer that interacted with those.

Steve: Okay. So you can see not just who bought that deal, but all the buyers that are Entire lead list. Interested in that deal. Yeah. So you have an interest list.

So before, investor were saying, hey. Look. Get access to cash buyers nearby. You can see you could do god mode. You can see who bought all the different properties of this and that.

Now we're saying, not only can you see who bought it. You can see everyone that was interested in it.

Robert: Yep. If there's five guys that made bids on a deal sold down the street, I can see all five of them. First name, last name, email, phone number.

Steve: I

Robert: can call those five people.

Steve: Right.

Robert: Chances are if they just bid on a deal last week down the street and didn't get it, they're gonna be interested in your deal.

Steve: They're still active.

Robert: They're still active. You can see who the real buyers are.

Steve: Yeah. So that's crazy.

Robert: It's just like it changed everything.

Steve: Yeah. Okay. So you had an experience. You have a client, a friend, couldn't move a deal. You took some liberties as the owner, right, to see, okay.

Well, let's just see who else was interested in this that didn't buy nearby. And you called that list, and you sold in fifteen minutes. And it would say, hey. Why don't we just allow everyone to have this?

Robert: Exactly.

Steve: And by allowing everyone to have this, you can only see not only see the buyers that are interested in your property. Like, you're the most likely buyers. But if you click on another property, you have another regression list, and you can go as far as you want down this rabbit hole of buyers making offers in very last few days.

Robert: Yeah. Or any interaction

Steve: Yeah.

Robert: Inquiries, views. So any deal before you even blast it, you got hundreds of qualified active buyer leads locked and loaded. Right. There's some teams like Naaman Taylor. I was talking to him in Texas.

Steve: Yeah.

Robert: See, I don't even blast my deals anymore.

Steve: Right.

Robert: I don't need to. All I needed to go do is just go hit Artemis Live out and spend an hour calling Artemis Live out, and I'm gonna sell the deal.

Steve: Yeah. Yeah. I mean, I think RJ was saying, like, yeah. He's just using Artemis to move a lot of his deals.

Robert: Yeah. It's just the whole idea with InvestoLift, the thesis, was let's build a product that allows us to build collective intelligence

Steve: Yeah.

Robert: And share it. So everything that everyone does builds the intelligence of the system, and every user is their work in the system, is building the intelligence of the system that then every other user can leverage.

Steve: Right.

Robert: You see that in every feature. Every feature we've ever put out

Steve: Mhmm.

Robert: God mode built on that principle.

Steve: Mhmm.

Robert: Cartel mode built on that principle. And now Artemis mode brings the best of both god mode and cartel mode together Yeah. To leverage the collective intelligence of all the top players in the country. Every time you add any of us as an interaction, it's getting smarter, and everyone else benefits from it.

Steve: Yeah. So you're adding more value to the user base as well.

Robert: Tremendous. They're adding value.

Steve: Yeah. Well, it goes both ways. Right? Yeah. Like, if if they're using it more actively, it benefits others.

And just as a community, right, like, as everyone wins here, we win as well Yep. Which definitely, as a business owner, really helps the churn rate. Why would you abandon something that has so much value and use, utility for your dispo team. Yeah. Right?

Like, do you want them to hate you? Do you want your dispo team to hate you?

Robert: Right. Yeah. It actually blows my mind people that people still have dispo teams that Yeah. And they're not using Masterlift. I'm like, do you do you realize how much money you're losing?

Like, like, you're literally losing, like like, a mid sized team, you're losing hundreds of thousands, if not millions, per year.

Steve: Oh, you're opting out.

Robert: Case studies to prove that.

Steve: You're opting out of data.

Robert: Yeah. You're opting out of the ability to leverage everything that everyone else has done to build that collective intelligence. And people like and and, like, the answers are usually pretty dumb. They're pretty shortsighted.

Steve: Mhmm.

Robert: They're like, oh, well, I like to be able to control my own emails. Mhmm. Like, you realize by this time next year well, even today, there's teams that don't even send emails anymore because you don't need to.

Steve: Right.

Robert: Emails are slow. Mhmm. We're moving away from email. Like, this time next year, we're gonna be a post email world where no more email blast that doesn't matter. It's just here's the perfect

Steve: I mean, if you look at email blast, like, what is the function of an email blast? Like, as person in the industry, I have in the industry for some time now. Right? And I might just be old. If you email a deal to me, I just assume your best buyer is passing this deal.

That is my assumption.

Robert: Yeah.

Steve: Because if it was a good deal, it would not have made it all the way to the email list. Right? So there's the there's the call list. Right? And that's what we do in our Discord training.

Right? There's the call list, there's the text list, and there's the email list. Mhmm. Which one do you wanna be on? No one wants to be on the email list.

Right? Because I could say here's, like, the VIP. Here's the upgrade or the premier, and then here's, like, everybody else. Like, which one do you wanna be? But it's pretty clear.

If I was like, do you wanna be on the call first list, the text blast, or the email blast? Like, no one wants to be on the email blast.

Robert: No. You know what? It's funny you say that too because yesterday, I drove around with Zachary Keeps. You know Zachary Keeps?

Steve: Yeah. Guys I mean, he's, like, one of the richest men in Arizona.

Robert: Yeah. Shout out to Zach. Shout out to Zach. And we did a ride along with him, and we're looking at deals. He's like, if I get it email blasted to me, I don't look at it.

Steve: Mhmm.

Robert: Because I know I'm not gonna be able to buy.

Steve: It's been come over or it's been it's been picked through.

Robert: Yeah. So we're gonna move to a world where, like, when the lead comes in Mhmm. You have the top buyers for that deal, and all you gotta do is make 10 phone calls when that deal is selling.

Steve: Yeah. That's insane. So anything about Artemis we didn't talk about before we talk about the next thing?

Robert: Check it out. Just check it out. If you guys have not seen it, check out YouTube. There's some videos on it on YouTube. It's it's the the most disruptive thing we've launched since we launched Cartel mode.

It's just completely changing the game, and we're not stopping there.

Steve: Yeah. Like I said, RJ's it can't sing enough praises about Artemis mode. So let's see. It's been about two years. I think in December, it'll be two years since you run the show.

Right?

Robert: Is it two years?

Steve: I think so. Right? So Wow. What are what were some of the things you saw in the real estate market in the last two years at on the investor list side? We all Yep.

Have spoken from the consumer side. What did you see on the on the back end? Because you get to you can see all this data. Kinda, like, picture, like, remember in in in the dark night where, like I think it was dark night where he had, like, everyone's cell phones turned on and you can, like, see everything. Like, I kinda picture you, right, as Alfred.

You can

Robert: just Yeah. We just, like yeah. I should show you some more dashboards. It's just, like, it's so interesting watching. It's so predictable.

Like, everything that I thought was gonna play out Yeah. Played out exactly the way I thought it was gonna play out.

Steve: Right.

Robert: So especially in the Phoenix market, but also nationwide, last year, you had a ton of people relying on the hedge funds. And I warned them to not rely on the hedge funds.

Steve: Yeah.

Robert: Because I know that they were arbitraging low interest rates with expected high inflation coming. Right? We just talked about this this morning on on the podcast. Like, if I can get a mortgage at 3% like, I bought a house, in 2021 because I could get a sub 3% interest rate on it. I didn't even really care about the house.

I just want to lock in cheap money. Yeah. Because I knew that if they print that much money, inflation has to rip.

Steve: Mhmm.

Robert: When inflation has to rip, then interest rates need to go up. But if I lock it in now, if I can lock in 3% now, and I know inflation is gonna go to 8% Mhmm. Then the government through inflation is basically paying down five percent of my property every year. Yeah. So the hedge funds are playing this long game.

Like, us as wholesalers, we're looking at our our numbers for the next thirty days.

Steve: Yeah.

Robert: They're looking at the ten, twenty, thirty year horizon. They're like, let me just lock up as much cheap debt as possible. They don't care about the houses. No. They're just trying to get that cheap debt because they know it's never gonna happen again in our lifetimes.

Steve: Well, you know, I went to IMN conference. Right? I went to Matthew Potter, the host of PTD. We go. We check it out.

And we're like there was a panel, you know, of all the there's Blackstone. There was, I can't think of all the hedge funds right now. But there were, like, there were five hedge funds. Right? And one of them's got 30,000 houses.

I think the biggest one had eighty, ninety thousand houses.

Robert: Yeah.

Steve: Right? Like, okay. And by the way, you wanna feel poor. Like, go to one of these places. Right?

And so the the the question from the audience is, like, how do you justify paying what you're paying? You're paying 50,000 over comps.

Robert: Doesn't matter.

Steve: How does this make sense? And they're like, well, you're right. You guys are looking at this the wrong way. Yep. Like, what do you mean?

You're buying based off of 2021 prices. Yep. You're looking in just the last six months. We're buying based off twenty, thirty prices.

Robert: Yeah.

Steve: It's like, well, how can you compete with a guy who's buying on twenty, thirty prices?

Robert: Yeah. Right? But but a lot of us, small mom pops, should adopt that mindset because that mindset is gonna make them billions of dollars. It is the correct mindset.

Steve: Yeah.

Robert: We call them stupid. We say that they're overpaying, but they're not. They're gonna laugh at us They're overpaying.

Steve: Years. Based off of our our knowledge. Right?

Robert: Term mindset.

Steve: Yeah. Well, it's our perspectives. Like, you know, bringing religion is right. Yeah. It was like growing up not knowing a lot about other religions.

It was like, how can, the Islamic religion say that Jesus was a prophet? Right? Because he was a prophet. Mhmm. He made to believe everything he says.

Robert: Yep. Right?

Steve: And if he says, I'm the son of the lord, then there's a there's a, paradox there Right. Or or a massive contradiction. Right? But we don't have the right context.

Robert: Yep.

Steve: If you look at it from their version, everything is in alignment Mhmm. From from their perspective. But I'm trying to look at their what they're saying from a different lens, from the wrong lens. Right?

Robert: Yep.

Steve: And so same thing here. Yeah. They look stupid from our From our

Robert: perspective. Perspective. Yeah.

Steve: Right? But our perspective is not the future. Mhmm.

Robert: And the way we're looking at it too is we're like, oh, we can buy cheaper. Yeah. We can buy cheaper in in low volume, but they're not trying to buy low volume.

Steve: No.

Robert: They're trying to deploy billions of dollars.

Steve: So At low interest.

Robert: At low interest rate.

Steve: Right.

Robert: So they did that last year.

Steve: Mhmm.

Robert: And, like, I there was one month where the average sale price on investment was over 100% ARV.

Steve: Yeah.

Robert: Insane. It seems insane, but it actually wasn't. It's very logical. And then what happened is they broke all the bank's risk models. These guys were all getting their money from two banks, Deutsche Bank, Goldman Sachs.

They

Steve: broke all

Robert: the risk models because they just bought way too much. Mhmm. And these these banks, they have, like, certain, like, risk thresholds that they gotta keep in Mhmm. Especially, on the the big freaking lines that these guys have, that they're buying houses with. So they broke those, and then all of a sudden, all the banks were like, sorry.

We're, we're pulling your lines.

Steve: Yeah.

Robert: We're pulling we're we're pulling all your warehouse lines, and then all the buying stopped.

Steve: Right. K? So they stopped not because they wanted to stop. They stopped because their funding got pulled.

Robert: Exactly. Deutsche Bank, Goldman, like, oh, the guy the big guys that provided all the warehouse lines, they pulled them all and, like, the warehouse that detail.

Steve: Yeah. That's a very different story. That's a completely different story. Right? If they stop buying because they didn't think it made sense anymore, that's one story.

Robert: Oh, no. They wanted I was on the phone with some of these guys, and they're, like, in a scramble trying to get new warehouse lines.

Steve: Yeah. But you wanted to keep buying, but mom said no. Yeah. It's a different story.

Robert: Different story. That's the real story. The real story is they wanted to keep buying. Yeah. Why wouldn't you?

Steve: Well but also their financing changes. Because that's how I looked at it. Right? Like, from my perspective, without that information, without that detail Yeah. Was, like, it no longer made sense if they couldn't borrow at the same interest rates.

Right? Because, like, you're borrowing

Robert: But they stopped before the interest rates really started cranking.

Steve: That's true.

Robert: That's why. Yeah. So it was preemptive. It was preemptive that

Steve: the cause because, like, the Fed

Robert: stopped after, then I would be like, okay. That makes sense. They stopped before because they lost their warehouse lines. Yeah.

Steve: Because, like, the Fed rate hike occurs Yep. And the lines get pulled. Right? So, yeah, that's I thought it was because, oh, our model no longer works. Well, I guess it didn't work because the model requires funding.

Robert: But It was because they were going crazy too. Like like, it was the month A few weeks after, like, we I looked at the data. I'm like, average sale price over a 100% ARV. Like, how does that make sense?

Steve: Right.

Robert: And I was thinking that something was like there's like some anomaly in the data. Like, I dove in. I'm like, no. The data is real. Yeah.

The data is the data. So all those guys that were really relying on the hedge funds that I cautioned last time I was here, I'm like, don't just rely on the hedge funds. I'm like, oh, I don't need an investor. If I just sell everything to the hedge funds, I'm like, you're gonna be in trouble. It works guys until it does it.

In big trouble.

Steve: It works until it doesn't.

Robert: Works until it doesn't. November, December, the guys that were relying just on the hedge funds, they got hammered. And then January comes along, and in January, investor purchases is a percentage of home sales were at the lowest point in history other than during the COVID nineteen lockdowns. Most people don't know that. On an investor, we saw a 50% between September and January, 50% decrease in transactions in ninety days.

Steve: Mhmm.

Robert: Insane. Right. And what happened January, February, March, and a little bit into April, the wholesome business got absolutely hammered.

Steve: They got clobbered.

Robert: Clobbered. Yeah. I told people last time I was in Phoenix, I said, look. We're good when prices are down here. We're good when prices are up here.

We gotta be careful is when there's the adjustment. Yeah. Because then the adjustment is where we get squeezed.

Steve: Mhmm. Yeah. And

Robert: we went through that squeeze. Luckily, we're in most markets, we're through that squeeze. Phoenix is still in that squeeze. So

Steve: Phoenix is a is a fun market. Yeah.

Robert: Yeah. It's tough. So some cities are still in that squeeze. East Coast has pretty much made it through, but people got hammered. And all the the newbie wholesalers that were able to make money wholesaling just because it was so easy, like, if you had a heartbeat, you could make hundreds of thousands or also, like, those guys are all gone.

I've talked to a lot of other SaaS founders in this industry and people have coaching programs and people that, you know, just service our industry. Most of them in q four and q one lost between 60 to 90% of their customer base.

Steve: Yeah. So

Robert: that tells me that 60 to 90% of wholesalers are gone.

Steve: So I guess I'm happy to say I'm less than 60%. Yes. But but I experienced some serious some serious churn.

Robert: Yeah. Absolutely. Most guys were in that range. And at InvestorLift, we have three different plans. Mhmm.

Right? We got a six k plan, a 36 k plan, and a 50 k plan. 50 k plan, they lose anyone. No one's letting go of those seats.

Steve: Yeah. 36 k plan a limited number of seats.

Robert: Yeah. Exactly. You vacate it, you might not You're not giving it back. There's a two year wait list. You're not you're in if you let it go, like, you're never getting back.

Right. The 36 plan, slight churn.

Steve: Mhmm.

Robert: The six k plan, 60% churn rates.

Steve: Yeah.

Robert: We lost 60% of our low end. Mhmm. Luckily, we were we were able to replace that and not have any down months. We kept revenue growing by actually filling up more of the high end plans. Mhmm.

But other guys were calling me like, dude, like, what are you doing with churn rate now? Like, we're just getting clobbered. I was a little bit more immune because, you know, if you're a company that is selling, like, real estate data or skip tracing or whatever, that's the first thing people buy when they start first start investing. So you got a lot of noobs.

Steve: Yeah. You have the earlier

Robert: Early in their journey.

Steve: In their, yeah, in their journey. Or they're a different season Mhmm. In their business.

Robert: I service the guys that are established doing deals and trying to scale up.

Steve: Right.

Robert: You're not buying a dispo product unless you have deals to sell. Yeah. So I'm way later

Steve: Mhmm.

Robert: In the journey, but my my entry level plan got clobbered. It got absolutely clobbered. And what's interesting is there's a good percentage are actually now coming back. There's a big reactivation. Last month, we had our biggest reactivation rate ever in history.

But I think this really shows where the future of wholesaling is going, which I've said many times. I've been saying this for last year. The future of real estate wholesaling is not tens of thousands of real estate wholesalers. It's gonna be a small handful of very tech enabled, very tight operations that do insanely high volume. We're moving to a new era of mega wholesaling.

I've been predicting for years. We built the first mega wholesalers that we're doing a million, 2,000,000 plus per month.

Steve: Mhmm.

Robert: And in the next two to three years, you're gonna see the first 100,000,000 a year wholesaler.

Steve: Well, we saw this in the realtor industry.

Robert: Yep.

Steve: Right? And for the longest time, like, everyone was a realtor. Right? And then over time, it's like, hey. I'm good at generating leads.

I am good at marketing. I am good at sales conversion. Mediocre is not realtor is not the great sales industry, but they're better Yeah. At sales. Right?

They're better at processes. They've got a CRM, not necessarily Salesforce, but they've got a CRM. They've got a transaction coordinator. They got someone taking care of all the paperwork. And so we went from you know, you're talking about the haves and have nots.

Right? We went from, like, an eighty twenty, something like that, to, like, a 9010 or a ninety six four. Right? Like, the handful of mega agents are doing a huge percentage of the transactions. Yep.

And we're seeing the same thing here because the cost I mean, the barrier to entry for the most part to get in wholesaling is pretty low. Right? Yep. Pretty low. But the amount of effort to get that deal and to repeat that process, whereas you got a guy over here, maybe like an Eric Brewer or a Jimmy Vreeland.

Right? Like, they've got an operation.

Robert: Yep. It's on

Steve: autopilot. Right? Like, every every, stage in the funnel not the funnel. Every stage in in the wholesaling process it's buttoned down.

Robert: Yeah.

Steve: How do you compete against a juggernaut? Right? And I think I think you're right. I think the we saw in the realtor industry from, like, all these realtors in free for all to, like, a few mega agents, all these wholesalers in free for all, these mega wholesalers.

Robert: Yep. And we're seeing it in the data. Mhmm. You look at any metric, we're breaking every metric right now. Yeah.

Offer volume, number of leads generated, total assignment fees earned. We're breaking all the metrics, and teams are now breaking metrics, having their biggest months. A lot of people still think that the wholesaling industry is, like, struggling. No. The buyers are back.

The buyers are actually buying more than ever before.

Steve: Mhmm.

Robert: We did over five we pumped over 5,000 homes last month. They're back, and what happened is all those noobs are gone. Mhmm. And big guys like you and big guys that have really tight operations are now picking up all that market share, and they have way less competition. So all that market share that you know, all the sharks were well, not all the sharks.

All the small fish we're fighting for, now the sharks are coming in. They're grabbing all that market share. So if you're watching this and you're, like, you run a big operation, now is the time to double down. Yeah. Go grab all that market share.

Steve: You're not only just fighting for the little fish, but you're also eating all the little little sellers Yeah. Along the way. Like, they're Absolutely. Collateral damage.

Robert: Yeah. And they're not coming back. Yeah. They're not coming back. I believe in it so much that at InvestoLift, this year, I think, is gonna be the last year we even have plans.

Mhmm. We're getting rid of plans. You know why we're doing that? I'm curious to hear. Plans make sense if you have a ton of customers.

Steve: Right.

Robert: Right? And you have, you know, different offering for people. But I know that the future is gonna be way less customers. So how do I grow the company if I know that the customer base the the future of the industry is a smaller customer base? That that doesn't make sense.

Steve: It's it's one product that matches exactly what the market needs.

Robert: Exactly. And what we're gonna be doing is shifting to more of a pay as you go model. So if you're a big juggernaut, you're gonna make tons of money. You're gonna really use the system, but then you're also really gonna pay for it. Like, there's gonna be people on the best with that pay over $1,000,000 a year.

Steve: Mhmm.

Robert: Invest with it. Why? Because they're making tens of millions of dollars on it. So we're happy to write that check. There'll also be people that come on and, like, freemium is gonna be launched pretty soon.

They you just post your deal and, like, we don't even charge you anything.

Steve: Mhmm.

Robert: So it's gonna go from free up to maybe you're paying a million dollars a year.

Steve: Wow. But pay as you go. So it only makes sense. You're paying it. You're happily paying it.

Robert: You're paying it as you're getting value. Yeah. That's what we're shifting towards because we think the future of wholesaling is way less companies doing way more volume.

Steve: So you're getting ready. You're you're you're, putting on the the, the gear. Yeah. You're enough for this.

Robert: Yep. Yeah. I think probably by the end of this year, all plans will go away. If you're on a plan, we'll keep you grandfathered in until you have a balance payment. But we'll keep you on.

We'll keep the existing guys grandfathered in. But, yeah, this then, like, next year, you're not gonna be able to buy a car policy. You're not gonna be able to buy a lieutenant. It's not gonna exist.

Steve: Right. So we're talking about the promises of AI. I mean, like, last year, I'm on, say, q three q four chat, TPT just made massive waves.

Robert: Yeah.

Steve: Right? So AI has been around for a long time, but, like, that was the first time we all, like, oh, wow. Like, it's here. Mhmm. How are you leveraging artificial intelligence inside of investor?

Robert: Yeah. So investor lift was built basically you know, the idea was to build a collective intelligence system that would eventually feed AI. Mhmm. Like, I started working on this three years ago to build the datasets because there's no assignment fee data out there. You can't go out and buy assignment fee data.

Mhmm. I'm like, we need to build an assignment fee data dataset. The only way to do that is to build software that incentivizes people to, you know, log their assignment fees through the system so we can collectively all put in our collective intelligence Yeah. And eventually build a dataset that's strong enough that we can then unleash AI Mhmm. And enable wholesalers to leverage AI.

Because, like, a human versus AI, like, it's not even like, it's not even comparable. I take a million humans and one AI, and the AI will outperform a million humans Yeah. And and be smarter and do it faster and do it better

Steve: and make

Robert: better decisions Reliably. More reliably. So, you know, Elon Musk has this great quote. It's something along the lines of, if your competitors are racing to build AI and you're not, you're extinct. You just don't know it

Steve: yet. Mhmm.

Robert: And that is 100% true. And I'm glad that chat g p t came out because people didn't really understand that, like, the power of AI until they had a stupid interface that they could it was just about the interface.

Steve: Like,

Robert: AI could do shit like that before. Just you had to be, like, a programmer to be able to, like, actually, like, interface with it. Right. ChatGPT came out and all of a sudden took AI and made it accessible for the average Joe with a laptop. Yeah.

We made it available to the masses. But the whole investor lift network, you'll notice from day one, every single buyer interaction, every click, every offer, every inquiry was locked on all 4,600,000 buyers Mhmm. Across America. Every buyer in America, every interaction on every single property, we've been logging since day one. And I didn't open it up publicly until we had that infrastructure in place.

The reason being is I'm like, we're going to train an AI that will eventually sell these deals for you.

Steve: Mhmm.

Robert: And we've been working on it for years, and Gen one didn't work. Gen two didn't work. Gen three didn't work. Gen four didn't work. Gen five didn't work.

Gen six comes around just in the last month when we do a slight tweak to the algorithm. Slight tweak. Just change one little thing. And then we run it on a deal in Washington DC where we have a really good dataset. Why?

Because that used to be my home market. I was religious about logging every offer, whether I accepted it or didn't accept it, every offer. And I trained all original users in that market on how to do that as well. So the dataset in DC is the cleanest dataset. Yeah.

Of anywhere in the country. So let's try it in the DMV market. Ran it on a deal. The AI, it used to take three hours to run. Now we got it down to three seconds.

So in three seconds, looks at billions of data points, every interaction that anyone has ever had with any buyer Mhmm. Ever in the history of investor lift. 8,000 people work in the system every day. Everything that's ever happened with 4,600,000 buyers in three seconds spits out, here are the top 10 buyers Mhmm. For this deal.

Yeah. Now question is, does it actually work? Because every single time we've done a test, it didn't work. I called down the list, three out of the 10 wanted to buy the deal. Yeah.

It works. It just needs the data. It works. It finally works. And, actually, today, officially, we're announcing that within the next thirty days.

It's gonna be live here in Phoenix, Arizona. It's our first test city.

Steve: I can't wait.

Robert: I can't wait. It's gonna change the game forever.

Steve: Yeah. I mean, it's insane. Just think about the value you get out of that. Right? Like, put another way, when you Google something, what are the top 10 results?

Right? Yep. It's like, well, usually, by the first three, you found the result you're looking for.

Robert: Yep. And

Steve: it's what you're doing here. And look. I'm speaking here with a lot of envy here. Because when we created OfferFast

Robert: Yep.

Steve: That was the intent. Right?

Robert: It's the holy grail.

Steve: Right. The intent was you put a property in, and we can rank the buyers for this property. Yep. Right? And if you can rank the property the the the buyers for this property, you call the first three, you probably have as much of your assignment fees you're gonna get.

You're probably not gonna get a lot higher. These are the top three buyers. Yep. And so now with Artemis and AI and all this, like, you don't need as much effort

Robert: To sell a deal. Right?

Steve: So you can re increase your assignment fee

Robert: Yep.

Steve: And decrease your costs to get

Robert: And seldom way faster. The last five times I've used Artemis mode, I sold the deal Mhmm. In less than an hour and a half

Steve: Yeah.

Robert: At or above asking price. I did that live in front of dozens to hundreds of people. Yeah. That's and we saw that on Closers Olympics, and that's just Artemis mode.

Steve: Yeah. Now with AI, we don't even have to call 10. Yeah. Like, this is it. One, two, three.

It's like, you know, Jerry Seinfeld, he did a skit. Right? Like, how do they decide how do they decide, like, when the expiration date is? Right? And it's like and they put that stamp on a a milk cart.

It's like, that's your expiration date right there. Yeah. Don't even question it. And it's kinda the same thing here. Like, AI has determined these are your top 10 buyers.

You can call all 10. Yep. But it's been forced ranked

Robert: Yep.

Steve: Through AI, through billions of data points. Your first three are probably gonna be the highest payer.

Robert: 100%.

Steve: Yeah. Yeah. It just We're we're turning we're putting Google search results into investor list buyer results.

Robert: Yep.

Steve: Like I said, I'm speaking a lot of envy here. I know we're partners on this. But, man, that was the vision when we create offer fast. Like, man, if if I put this property in, can you tell me who the top 10 buyers are?

Robert: Yeah. Like, we were finally there. Leveraging billions of dollar billions of data points from every user interaction.

Steve: Mhmm. We're

Robert: at a peak, we sent peak email volume. We're sending 70,000,000 emails per month. Mhmm. All of that data on, like, who opened it, who clicked on it. Like, hundreds of millions of data points per month.

Steve: Mhmm.

Robert: All of that is being looked at. But then not only that, but we're also pulling all the tax record data as well. Mhmm. So anything on Investif or off of InvestorLift. Yeah.

All the tax record data, everything it doesn't matter if they bought an Investif or not. We just link up their LLC, and then everything they're buying through that entity gets linked up. Yeah. Just train the model.

Steve: Well, you're you spent a lot of money to pull all the public data.

Robert: Insane amount of money.

Steve: Yeah. Just for, you know, giggles. Right? Like, how much have you spent on data in the last twelve months to make sure you have all the data necessary?

Robert: Millions. So every single doll last time I was on the show, we sold over a million dollars of licenses. You know what I did with that money?

Steve: Put it back in the business.

Robert: I as soon as I got off there, I I called up Jesse, and I'm I I bought all of batches data. Yeah. I just spent it right away. So every pain that comes in, we're just rolling right back in to make it better and better because it's an arms race. Like, we have monopoly position right now

Steve: on the

Robert: market side. We do have some competitors, but, like, you know, we do 5,000 deals a month. Deals a month. They maybe do 50 to a 100. Mhmm.

Like so we're like, we just gotta double down, double down. It's a race to AI. We won the race. Well, once it goes live, it works. We're in the race.

It works. You just gotta feed it up to date. So we're gonna be rolling out city by city by city. Mhmm. Once we determine we have enough data, the AI works, you just gotta feed it.

Every time there's a buyer interaction, that's like imagine you got, like, you know, here's your company. Here's your deal. Right? And as soon as you post a deal, you've created a new note on the network and you've grown a neuron.

Steve: Mhmm. And then

Robert: you go blast out some buyers, and every time a buyer interacts with your deal, it's growing more neurons. Every time there's an offer, it's growing a very strong neuron. Mhmm. So the more deals we have posted, the more activity we have, the more neurons we're growing, the smarter it gets, and the more powerful it gets. I'll tell you where it's going where it's going.

Imagine this. You do a lot of pay per click advertising. Right? Imagine if your sales team, when a Google lead comes in, it gives you at the lead level. Before you even pick up the phone, here are the top 10 buyers for the deal.

Mhmm. Here's the probability, the Cisco probability that they're gonna buy the deal, and here's the offer range that

Steve: Right.

Robert: They're gonna be making their offers on.

Steve: Yeah. You've you've effectively also done reverse wholesaling where, like, I know before I even acquire the deal Yep. Who the probable buyers are based off the address. Mhmm. And here's what I can go up to.

So instead of buying as deep as possible, which is still the best model Yep. You can go in there with the confidence knowing, like, well, we already have a couple of buyers on this already who might be willing to pay us. Because, look, as a newer wholesaler, what would I do? I'll call Jamil. Yeah.

Hey, Jamil. I got this appointment. I'm going over here. What will you pay?

Robert: Right.

Steve: Right? And as long as my number is lower than Jamil's number, I'm

Robert: good. Good.

Steve: Right? Like, I obviously wanna get as deep as possible, but as long as it's lower than Jamil's number, I've got myself an assignment.

Robert: Not everyone has Jamil in their pocket.

Steve: Not everyone has Jamil in their pocket. So now with investor lift, you know going into the appointment, I got buyers on the back end. Right? Yep. I can go in there now.

Like, obviously, you wanna get as deep as possible, but, I mean, it's predisposed.

Robert: It's predisposed.

Steve: Yeah. We should

Robert: It's gonna be a great experience for the buyers too because the the number one I'll be honest with you. The number one complaint we get on investor left, people are like, dude, you send way too many emails. We actually at peak, we're doing 70,000,000 a month. I'm originally from Canada. There's 35,000,000 people in Canada.

That's, like, hitting every single Canadian twice a month. Right? I was like, okay. It's getting a little excessive. We we brought it back.

Mhmm. We brought it back significantly, but still, like, it's not a great experience. It's still, like, old school. Like, we're not in the nineteen nineties anymore.

Steve: Right.

Robert: So the future is the future is no email.

Steve: Yeah.

Robert: The future is just here's the people that are gonna buy it. Much better experience for the buyers. They're only getting deals that are perfect for their buy box. Much better experience for the wholesaler. You're selling your deals fast, efficiently at very high prices with a lot more certainty because I mean, if you talk to guys like David Olds who runs easy REI closings, shout out to David Olds.

If you're not outsourcing your TC, you definitely should. I asked him. I said, what do you think is the average I mean, you could see it. You can see the data. What is the the average contract follow rate that you're seeing?

Because I see some data, but he's actually going straight through title, so he sees the, like, actual number. It's over 50%.

Steve: Yeah.

Robert: On investment, it's much lower

Steve: Of course.

Robert: Way lower. But across the nation, it's 50%. So that's what gives wholesalers a better repetition. Think about we're doing all this activity on the front end. Do all sales training, recruiting, marketing.

We're spending all this money, and half of our deals are just thrown out the thrown in the toilet. Yeah. It's insane. So I wanna bring that contract follow-up rate as close to zero as possible.

Steve: I mean, this is even staged in the underwriting component. Yeah. Right. Like

Robert: That's the other reason why people screw up is they don't have their numbers right.

Steve: Yeah. So you don't have to worry about underwriting as much.

Robert: Yeah. We

Steve: already have it on the back end. You know, it's kinda like a remember minority report?

Robert: Yep. Alright.

Steve: It's like precrime. Precrime. Yeah. And we got this is, like, predisposed. Predisposed.

Robert: Yeah. The holy grail.

Steve: And we're gonna have to after this show by predisposed.com.

Robert: I love that. I love that. Let's do it.

Steve: So alright. So everyone's watching right now. So we got Artemis. We got AI. We're moving away from plans that if they buy now, be grandfathered.

Yeah.

Robert: So

Steve: if you guys are interested in this, right, investorlive.com, disruptors for 10% off. This is insane, like, where this is going. Kinda kinda scary too. Right? Because, like, how do you compete against this if you don't have it?

Robert: Yeah. If you're not an investor, if you're gonna be out of business the next twenty four months, guaranteed.

Steve: I mean, it's the whole deal, like you said, with Elon. Right? Like and I have people, like,

Robert: I'm so scared of AI.

Steve: It's gonna take my time to know. If you're using AI, fine.

Robert: You're gonna be able to run an operation much more lean with way less people doing way more volume and keeping way more money. We're talking about a whole another era of wholesale profitability. Yeah. You know, Jamil was on

Steve: a

Robert: podcast with, Jordan Belfort

Steve: Mhmm.

Robert: The Wolf of Wall Street. Yeah. And Jordan asked a really interesting question. He said, why has there not been, like, a 100,000,000 a year wholesaler? Like, why isn't there a publicly traded like, this is a beautiful business.

Steve: Yeah.

Robert: This is one of the most beautiful businesses ever. Why isn't there a publicly traded wholesaling company? What do you think?

Steve: Well, I mean, Opendoor is trying.

Robert: Yeah. But they weren't wholesale wholesaling. They're mine.

Steve: They're double closing. Or they're

Robert: Double closing, which I

Steve: think is

Robert: a huge mistake.

Steve: Yeah. Putting a lot more risk. I think that the the scalability right? Like and it's super like you said, it's super sexy. Right?

Super profitable. The margins are ridiculous compared to, like, retail and restaurants, this and that. Yep. I think there's an element of branding. Do you wanna have a brand where you're buying houses from granny?

Robert: Right.

Steve: Right? So there's that. And I think, there's nothing proprietary. There is here. And I think that you have to manage an army of salespeople, and no one loves managing an army of salespeople.

Except for Rem Bartlett. He actually does.

Robert: My thought is that if you look at any industry look at finance industry.

Steve: Mhmm.

Robert: We talked about this last time I was on the show. Like, how inefficient it was. Mhmm. And there's a ton of very small players. Right.

Right? In any industry, is that industry becomes more data and technology enabled, the gap between the small guy and the big guy increases.

Steve: Right.

Robert: The guy that has more data, more technology

Steve: It's gonna win.

Robert: Gets a way bigger competitive advantage Mhmm. Eventually gets to the point where the small guys start falling off.

Steve: Yeah.

Robert: And the big guys start eating up all their market share.

Steve: Mhmm.

Robert: So we're in that period right now. We're going through that period right now. I've been predicting it for years, and we're we're in that right now. And then once we get the AI plugged in, it's gonna take it to an entire new level.

Steve: Mhmm.

Robert: And we're gonna now have very small teams doing much bigger numbers, and then it's just gonna be about, like, who can scale up the sales the fastest. That's gonna be the new arms race. Who the arm next arms race is on sales.

Steve: Yeah.

Robert: That's what it is. Who can train? Yeah. Shout out to Steve Trang. If you guys wanna learn how to close Yeah.

You should see his commentary on Closers Olympics. It was a master class. Absolute master class. If you're not doing sales training with Steve Trang, you're missing it out. But that's the next arms race.

And with the AI finally coming out, rolling out city by city, is we get enough data for it to actually work in that city, the next arms race is gonna be sales, and people are gonna be able to do numbers that we've never seen before Mhmm. With teams smaller than we've ever seen before. And that's why I'm saying the next, I think, twenty four to thirty six months, we're gonna see the first 100,000,000 a year wholesaling company, and we'll probably actually within the next two, three, four, five years, we're gonna see the first publicly traded wholesaling companies.

Steve: It'd be interesting to see.

Robert: Yeah. We'll check back on this video in five years, see how this played out. So far, my predictions have been playing out almost 100.

Steve: I'm pretty smart guy. So got a few minutes left. I wanna touch on you had uploaded something, a chart inside the investor led Facebook group, and they're ranked it by cities. Yeah. So we recently signed up with Leadsolo to go nationwide.

Right?

Robert: Again Smart move.

Steve: Following RJ's lead in this one, watching close Olympics. Like, these are, like, the easiest freaking leads ever.

Robert: Yep.

Steve: Right? So we just like, alright. Well, if it's working for these guys, then we're buying it because there are some suspect abilities on on on closest Olympics. So, anyway, we're going nationwide, and so we're picking which states do we wanna go to. Mhmm.

And so we looked. We overlaid two different sets of data. Overlay is a really fancy word. We compare two sets of data.

Robert: Right.

Steve: Right? We looked at the investor lift data. Yep. Here's where it is in these different markets. And then we looked at Privy.

Alright. What's the activity in each of these markets?

Robert: Oh, like this.

Steve: Right? So you're like, here's what are the margins? Yep. What's the activity? And now after you talk, it's like, okay.

Now it makes sense why Maryland's so big. Freaking Robert's wholesale deals.

Robert: Yeah. The first graph goes all the way back, and, yeah, I I launched in that market, and I grew the first 2,000,000 a month wholesale operation. There's another graph, though, that shows just the last 12 where I was not operating.

Steve: Yeah. So take

Robert: a look at down the comments, take a look at that one.

Steve: I didn't see that one. I was like Yeah. Yeah. Maryland, I don't understand. Like, do I wanna go compete against CJ?

I don't know. I don't know if this makes sense.

Robert: Me and my team's Yeah. Crushing it.

Steve: Yeah. So we we opted not to go to Maryland.

Robert: Yep.

Steve: But talk about, like, the data, what you're seeing right now as far as rural versus metro.

Robert: Okay. So at InvestorLift, one of the things we really care about is keeping our customers throughout the lifetime of their wholesaling career. We don't want you just as customer for a few months. We want you as customer forever. And, like, we know the product works, so if you leave, we screwed up on something Mhmm.

Or you're out of business. Yeah. So every single customer that leaves, we'd like to get on a call with them and ask well, first of all, thank them for their business because, you know, it's a big investment to buy invest with. So we we call them up. We thank them for their business.

And then we ask them, hey. You know, if you're leaving, either we screw something up or you're out of business. Most of the time, it's they're getting out of the wholesaling business. K. Sometimes there are times when we screw up, and then I'm like, okay.

Here's the things we screwed up on with these customers. Let's now fix them so that doesn't happen again. Yeah. Okay? So very effective process any business should do.

If you lose a customer, you need to talk to them. But with the people that went out of business, we then look at the data and interview them to figure out what is the reason why they went out of the business. You know what the number one reason was last year?

Steve: They're they couldn't move their deals because they're too rural?

Robert: Exactly. And that was partly our fault because we were pushing all this content about nationwide wholesaling. What we didn't mention is, like, hey. Well, we're going nationwide. We don't actually mean the entire country.

Mhmm. Every county we're not doing deals in the swamps. We may we might have, like, half a dozen or a dozen cities spread out that we really go deep in. Mhmm. If you really do true nationwide or statewide or whatever, Google is just gonna give you all the trash in the swamps.

And if you look at the data, I had this interesting chart that I put up at the last conference I was speaking at, and it was, on one axis, we had the population of a county. On the other axis, we had days to sell the deal. Mhmm. Once you break about, half a million county population, everything's moving really quick. Yeah.

You go sub half million population, days to sell a deal. There's some counties where the average is over ninety days. Yeah. We're talking about multiple price reductions. There's just no demand.

Yeah. And there's 20,000 people in the county. It doesn't matter how deep you buy. If there's just not a buyer, there's not a buyer. Right.

But then we looked at average assignment fees.

Steve: Mhmm.

Robert: Same thing. Once you go past, you know, half a million population, we're getting, like, decent assignment fees. Right? You go sub, you know, sub half million. There's a lot of counties where the average assignment fees 4 or $56,000.

Yeah. Then we looked at contract follow-up rate. Right? Same thing. In these counties with those really small populations, contract follow-up rate, seventy, eighty, 90%.

So do you really wanna spend ninety days to have a twenty or 30% chance of maybe making 4 or $5,000, or do you wanna have an 80% chance of making $50,000 and doing that in five days. Yeah. Which one would you rather do? So the people that are going rural because they're like, oh, the cost per lead is low. It's stupid.

It's like last time I was on the show. I said, if you want Ferrari assignment fees, you need to invest in some Ferrari leads.

Steve: Right.

Robert: It's the biggest mistake that wholesalers made last year, the number one reason why they went out of business. This year, it's actually different. This year, I knew what it is. Mhmm. I love Novations.

Great, great, great innovation. Eric Brewer, I know, did a ton of great content. Shontery has been doing a lot of great content on that. But this year, the number one reason why people are going out of business is they've screwed up their cash flows doing too going too heavy on ovations.

Steve: Mhmm.

Robert: Novations are a great tool. But if you go from a 100% wholesaling to a 100% novations, you know, the impact of that is in your cash flows.

Steve: The cash conversion cycle gets crushed.

Robert: Gets crushed. Yeah. And guys these guys are not running with a big stack of cash in the bank. Mhmm. So they hear about novations.

Also, they go a 100% novation, and they go cash broke.

Steve: Yeah. Yeah. Cash conversion cycle is grossly under understated. Right? Like, I didn't understand the idea that you can go out of business Even though the number even though your profit's increasing month over month that you can actually go out of business even though your profits are increasing.

It just didn't make sense to me the first time I heard it.

Robert: You you stretch out. If you double your cash conversion cycle, you cut the profitability of your company by over 65%.

Steve: Yeah. It's painful. Yeah. Yeah. So what you're suggesting is there's gotta be a healthy mix.

Robert: Yeah. You gotta Novations use them as a tool. Mhmm. A great tool. And there's a lot of times where, like, you know, if I looked at this deal and it's in great condition, I'm like, I'm in the hell of that all day long.

Right. But if you just are like, hey. I got this new tool. I'm gonna hit every single nail with this new tool, and you don't understand the impact of that on your cash Right. You will put yourself out of business.

Well, I

Steve: mean, it's the same principle. Like, people like, well, why don't you flip every deal to maximize it? Like, well, you could.

Robert: Could.

Steve: You could. But you better have a flip closing every month. Because if you don't have a flip closing every month, your cash conversion cycle or your your your cash, it's not balances, but your your cash positions. If you don't have a good cash position, like

Robert: Your your dad.

Steve: You got if you got 50,000, 80,000, 100,000 in the bank, you can't do it everything. Yeah. Right? But if you got 20,000 in the bank, you're innovating everything

Robert: ease into it slowly.

Steve: Yeah. You You gotta get in a position where you have enough cash. Yep. Right? Then you can maximize everything.

And if

Robert: you look at all the big guys that have done really strong pivots into flipping from wholesaling, most of them went broke. Yeah. Most of them went completely broke. I have had multiple calls this year with guys that were like, oh, I'm gonna start flipping again.

Steve: Mhmm. And then makes sense if you're doing fewer deals and you need to maximize it, but you can't forget the cash position.

Robert: Yeah. You got there's pros and cons to every single tool that you have in your tool belt. Yeah. And you gotta understand the pros and the cons, and you you can't just use one tool. You gotta use different tools.

Well,

Steve: the cash position situation is not a fun thing to think about. Right? Because then you have to understand, again, cash conversion cycles.

Robert: Mhmm. You have

Steve: to understand your cash positions. You gotta understand how much you're spending every single month. And most of us don't want to think about these things. We don't. It's not fun.

We'd rather go out and get another deal. Yep. So you gotta go you gotta push through your hardwiring to actually understand these numbers. Now you can make a a more informed decision on how you dispose this deal.

Robert: Yep. And it's easy to do. Just create an Excel spreadsheet, put your properties in it, you know, day I acquired, day I'm expecting to get the money. Like, it's not hard. Like,

Steve: I'm just gonna create it. Not hard.

Robert: You just gotta do it.

Steve: You just do it. Not hard. But I also understand the predisposition of our clientele. Right? If you're in wholesaling or in sales, and I put myself in this category, you wanna win now.

You can sell your way out of this business, and the details can figure themselves out later.

Robert: That's how we're hustler's business. That's the ultimate hustler's business.

Steve: Right. That's how we're hardwired. Yeah. The problem with this hardwiring, if you can't push through this, is you can put yourself out of business and not even realize it's happening until it's

Robert: too late. 100%.

Steve: Yeah. Alright. So this is I hope you guys got a ton of value. I am super excited about this evolution, AI, Artemis. We're gonna call this predispo.

Alright? It's just like precog, precrying. Yep. Like, it's gonna be insane. Robert Wensley is gonna be wearing a Tom Cruise outfit.

Alright? So investlive.com. Put in disruptors to get 10% off. Check this out. I think this is gonna be an insane competitive edge.

I am stoked.

Robert: Absolutely. And if you're thinking about it and you're like, oh, maybe I'll give it a couple months, don't wait because, like, the software update to get rid of plans is almost done. So as soon as that rolls out, you're not gonna be able to buy it anymore. We're shifting to pay as you go. It's gonna be way more expensive, but it'll be like, hey.

You sell like, if you're selling a deal, you're paying. Yeah. So if you don't wait. The deals we have right now are gonna be the best deals we've ever had, and they're going away before the end

Steve: of Eventually, it's cost it's gonna be cost per deal, which should be more expensive than the plan.

Robert: Yeah. Exactly.

Steve: Cool. If someone wants to talk to you, connect with you, what is the best way for them to do that?

Robert: Best way to do it would just be to email my teamsupport@investorlift.com or just send us a DM on Instagram at investor lift or at Robert Wensley. I'll try to keep up with those, like, as much as I can, but, you know, we get a lot.

Steve: So The last time we were in the show, you kinda got blown

Robert: up. Yeah. I mean, we had over a million dollars of sign ups after. So I but I'm gonna try. I always try to do my best to respond to as much as I can personally.

And if not, my team will fill in and and answer any questions anyone has. Alright.

Steve: Perfect. Thank you so much. Thank you so much. Appreciate it. I am beyond excited for this update.

Absolutely. I'll see you guys later.

Robert: Thanks so much. Steve train. Jump on the Steve train. We real estate disrupt