Epic Real Estate Investing - How to Wholesale with a $0 Marketing Budget - Ryan P | 768

Episode Date: September 7, 2019

In today’s Epic Field Report, Matt is joined with Ryan, a member of the Epic Pro Academy FB group, who closed a great wholesale deal in less than 24 hours. Tune in and find out how Ryan found this particular deal, the biggest lesson that he learned from this transaction, and how he finds deals with no marketing budget. Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terio Media. From coast to coast, epic investors are doing the most. It's time for another epic field report. Ryan, thanks for joining us today on the Epic Real Estate Investing Show. Hey, thanks for having me, Matt. I'm glad to be here. Yeah, I'm glad to have you here, too. The last time we saw each other was at an intensive.

Is that right? That's right. Okay. Out in Vegas. That was the Vegas intensive. Okay, perfect. I live out here now, so a lot has changed since then. Yeah.

Vegas will never be the same. It seems like it might have been a turning point for you. Am I right? Yeah, it was. Okay. And what I'm referring to is inside of the Epic Pro Academy private Facebook group you'd posted on Follow Through Friday that you'd close on a wholesale deal. You bought it under contract for 14, sold the assignment for 25 and less than 24 hours,

no money out of pocket. So super, congrats. Yeah, thanks. That's not the first deal we've done. Oh, you know, we've got a couple other smaller ones under our belt. Okay. That was follow through Friday. I missed reporting any of the others.

Well, that's even better news. So let's talk about this one and then we'll kind of talk about what you've been doing in general. But how did you find this particular deal? So this came to me through a bird dog. Okay. How does that work? Or how do you work your bird dogs? How do you find them?

I'm all signed up with RIA solutions. So I use the web page and I have the back end set up and things. And then I just go out and visit with people, you know, And when I find someone that I think would be a good fit that is interested, that I don't just look for everybody or I don't just shotgun blast it, you know, I'm kind of looking for qualifying bird dogs, I guess. So I had found this guy and told him kind of what I'm looking for and what I do. And a couple days later, he called me and said, I think I got one for you.

And so I followed up on it. And that's how it ended up. I pay him $1,000. Okay. And how did you find him? you post a job ad or a gig ad, something like that, and that's how he found it? Yeah, so I have a little Facebook page for Triumph. Triumph is the name of my investing business, Triumph Home Buyers.

Okay. And I put out of Facebook. I used, again, the RIA Solutions, kind of one of the digital assets, you know, and a little video, and I put it up there and said, hey, I'm looking for, you know, property finders. Mm-hmm. And what was his background? What was his experience?

Yeah, he's just, he works for a company, you know, he works in, logistics. All right. So you told him what you're looking for and he brought it back to you pretty down quickly. Yeah. He's since provided me with two more that I'm actively working on now. Fantastic. So you had wholesale this one. So that was your exit strategy. And then you had a picture of a check here for a little over 10 grand. That's my check, Matt. So that's after me paying closing cost. I pay all the closing costs for my clients. I pay the prorations and all all of those things. you know, and that's after the bird dog or property finders fee and everything. That's fantastic.

Pretty close to net. Okay, super. Nothing wrong with that. What is the biggest lesson learned in this transaction? This one was fun. It was an older lady that just had stayed in her house too long and she'd gotten sick, needed to get into a nursing home. So I literally helped her do that.

I mean, put her in a vehicle and helped her get to the, nursing home moved her in there got all the stuff you know then we had to take over the house and as you can imagine i mean she had some cats and things so we had a lot of cleanup we did all of that then i stopped that's an important step that's what i learned is uh after i got everything cleaned up i got all the personal belongings all the trash everything out there we tore the carpets out and uh gave it a good dusting right that's it that's all i did and i took all the land all the trees that you know, reclaim the yard,

right? Mm-hmm. So then at that point, I felt like I had something that an investor could actually see what they were buying. So then I, I used, again,

I used the R.I. Solutions and I created the, you know, the listing, I'm going to call it the listing page and things. And, the property flyer with all the information about the property on it.

Exactly. Right. Now, I hadn't done any improvements or anything, you know? And then I blasted it out. Literally, the guy called me,

about, he called me that night and he said, I'm going to go over there. And I said, well, that's, I'll have a friend to me. I can't do it. I've got family tonight. And at 8 o'clock the next morning, he called me and said, I'm going to take it. So, well, full price offer. I mean, we didn't, we didn't negotiate anything. So, you know, maybe I was too cheap or whatever. I'm not going to worry about it. But, you know, I was happy. Everybody was happy. So that's great. That's how that deal went down. So let's kind of circle back around. So since we last saw each other at the intensive. but back in March, I think.

It was actually late January. Was that late January? Okay. So here we are what, eight, nine months later. Right. You've been, you've got a few deals under your belt. So how, have you been finding them all through bird dogs or did you find some through other means? Yeah, so I walked the streets.

Okay. That's funny to say. Yeah, I get out, you know, I drive around. It's kind of my take on driving for dollars. I used the driving for dollars a few months ago. and frankly, at this point in time, it was just too expensive for me. I wasn't getting the result. I wasn't using it in the way that it's really designed to be used.

You know, I was just trying to get the owner's information and get a shortcut to contact them. It's good for that, but it's an expensive tool for that. I can do all of that by taking a little time and doing it myself. Good old-fashioned way. Yeah. So that's what I'm doing. You know, I drive around. I look for distress properties.

I look for indicators that not necessarily that the property is distressed, that maybe the people are, you know. And then I have a card that I made up. I've got room here to write an offer or write a note or whatever I feel is appropriate for the circumstances. And if they're not there, I'll leave it, you know, and if they are, then we can talk about it. It's a good little icebreaker.

That's kind of my strategy right now. Frankly, I don't need to do tons of deals. I'm trying to do the right deals and build a good foundation. With the deals that you found, and then you mentioned that you're using RIA solutions, and so it seems to be working for you, you worked really well. And when you had the property and you blasted it out, who are you blasting it out to? How did you build a buyer's list?

So I've joined, I believe I'm seven or eight different wholesaling and real estate investing groups in the Wichita market. I'm in Wichita, Kansas. So in my market, you know, I went. and took your advice and joined those groups things. I don't interact with them a whole lot, but I do monitor them and watch them, you know. I have a body deals off of there yet from other investors,

but I think some of them come through, obviously, you know. So of those, say, seven or eight, and then I syndicate it, you know, I do whatever the, wherever REI solution sends that out to, I do that as well. Right. But I've never gotten any interaction from that because the deals haven't stayed up long enough, I don't think.

Right, right. Literally, I'm getting offers from the people off of the Facebook groups, you know, within a couple of days. Now, this deal, I had six offers behind the guy. Yeah, well, you're finding good deals, right? Right. So the lesson there is, you know, you find a good deal and there's no shortage of buyers in the marketplace to gladly pay you for them. Yep. Super.

So what's the, you said you had a couple deals? in the work? What's in the future? What does that look like? You know, I kind of like this little, oh, whatever you want to call, you know, this little niche that I'm working in right now, which is all kind of sub-hundred thousand dollar or sub-80,000. It's fast. For us, our plan right now, my wife, Jenny, you remember Jenny? Of course. Right now our plan is just to wholesale as much as possible. We're not in a position to buy and hold right now. And maybe somewhere down the road will expand our, strategy and things. But right now, it's really just wholesale.

Sure. So that's where we're at. Fantastic. Well, Ryan, again, congratulations. Keep doing what you're doing. And if you need any help, you know how to get in touch. Yeah. Matt, I appreciate it, you know. We just wanted to throw out a little good that we were doing good in Kansas.

Yeah, no, I was really happy to see that. So I was like, hey, let's come on the show and let's talk about it. So perfect. Right. Well, I'm going to look at your ground and pound with Garner, too. So I've always been interested in that. I think it's one of the more valuable things that anyone could participate and invest in for themselves. Because, and as you are experiencing that, you know, you don't need a big giant marketing budget to make this business work.

And it's just good old-fashioned talking to people. You know, if you have an actual skill set behind that talk and an actual direction that you're headed, it's probably the most profitable thing that you can do inside this business. So I hope you can make it. Thanks. I appreciate it, man. All right, Ryan. Take care about it.

Thanks. You bet. Bye-bye. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. Yeah, yeah, we got the cash flow. You didn't know, home for us, we got the cash flow. This podcast is a part of the C-suite Radio Network.

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