Epic Real Estate Investing - Virtual Wholesaling Update with Lisa Nilsson | Episode 144

Episode Date: February 9, 2015

There are two Epic Real Estate Investing episodes that spark more listener questions than the others, and one of those is our interview with brand new virtual wholesaler, Lisa Nilsson.  Specifically, our listeners wanted to know how her experiment with wholesaling in Alabama (while living in sunny California) was working.  Today, Matt is sharing their coaching call so that you can hear the update about how she got her first house under contract for under $11,000 and made a $3,000 profit!  Enjoy! ------- The free course is new and improved!  To access to the two fastest and easiest strategies to a paycheck in real estate, go to FreeRealEstateInvestingCourse.com or text “FreeCourse” to 55678. What interests you most? E ducation P roperties I ncome C oaching Learn more about your ad choices. Visit megaphone.fm/adchoices

Broadcasting from Terrio Studios in Glendale, California, it's time for Epic Real Estate Investing with Matt Terrio. Yeah. Hello. Hello. And welcome. Welcome to Epic Real Estate Investing, the place where I show people how to escape the rat race using real estate. And your first step, if you haven't taken it already, is to shift your focus from making piles of money to creating streams of money. That's it. That's the secret right there. There's your key to the kingdom, my gift to you.

I've got a great show for you today. I've got an update from Lisa Nilsen, my virtual wholesaling experiment that I've been conducting. You know, aside from my one episode where I called the primary residence, the worst investment you could make, got a lot of backlash on that. Still believe it, though. You haven't changed my mind. I'm waiting. I'm open to your ideas, but it is. You do the math and you project that out into the future. It's the worst investment you can make is your primary residence. But that's not what today's about. The second thing, the second episode that I've ever recorded that gets the most comments,

most questions is, is that one with Lisa? It's, where's Lisa? How is she doing? Those are the two most common questions I get, either by email or our live events, wherever that may be. And by the way, go to grub and grow rich.com to reserve your seat for this week's Grub and Grow Rich event in Laguna Beach, California. And, but I get those questions. whatever happened to Lisa.

That question comes my way constantly. Well, today, I've got an update for you. And what I did is I just recorded our coaching call. I mean, I record all of our coaching calls, but I got her permission to play that call for you today. So it's kind of a look behind the curtain, so to speak. So I've got that for you. And I've got an announcement for you as well.

I'm going to be taking a break from third-degree Thursdays and Financial Freedom Fridays for a while. as my real estate business and my personal investing, it's requiring more of my time. So I have to create more time for myself. So I'm going to be cutting the podcast schedule down a bit until further notice. I'll probably bring it back. But this is a big year for me. I've got big goals, big aspirations when it comes to my real estate.

So I need to, I just want to really focus on that. So I will see you though here each and every month. Monday, that's not changing, just like how we began this show for a full feature episode. All righty. And we'll start this new schedule today with Lisa Nilsen's virtual wholesaling update. I'm going to play the recording of her coaching call in 30 seconds right after this. Alert! Alert!

Real estate investors, listen carefully. A closely guarded secret reveals that closely guarded secrets aren't really that closely guarded. Seriously, go to find motivated sellers ASAP.com to get the. inside scoop on how the nation's most successful real estate investors really find their deeply discounted properties. Go to find motivated sellers ASAP.com. Deeper discounts, less secrets. Find motivated sellers ASAP.com. Hello. Hello. I just got my first offer sent over, purchase offer. That's awesome. Fernando was telling me something what's going on over here with you. I know. I was like freaking out. I was like, Fernando, I don't know what to do. I'm like, this guy.

guy Jay that says that he works with you guys too. He's calling me. And then I'm like freaking out because I don't know if it's like a conflict of interest. If I sell him my property, if you guys are already working with him, I'm like, help me, Fernando. He's like, no. He's like, go for it. If he wants to see it, he wants to buy it, then let him go look at it. I'm like, okay, but aren't we supposed to wait for Jeff to see it first?

He's like, no. No, you got to go after the money, Lisa. You got to strike ball and attack. But the whole reason why I'm in Alabama is to help you guys get some more properties in Alabama, right? No, the reason you're in Alabama was you're able to leverage our team there so you'd have people to go out and look at your properties. Oh, got it. Okay, got it. Yeah.

So if they turn out to be good deals, yes, we want to crack at them. But this whole thing is it's not for us as to teach you to become independent. Awesome. So I'm just going to call Jeff directly and I got the email. And so, yeah, I'll just, so I just, I'm still confused. And, I mean, I'm still confused. I know Fernando explained it to me, but I guess tell me if I have it right. So you guys don't have your own team here like you do in other markets.

Like you don't have your own contractor team and your own, like people that go out and do it, like how you do it. No, Alabama, we have a partnership with another team there. Okay, got it. No, they don't work directly with us or for us, but they work with us. So, yeah. Got it. We're just partners in Alabama. So I just want to make sure I'm understanding it correctly.

So when I get properties, I'm going to call Jeff and have him look at him, and he's going to determine if he wants to purchase it or not. And then if he does want to purchase it, then how do you guys come into place? He fixes it up and then sells it to you guys? Maybe. Maybe not. We really don't have to come into play at all. That's not the point.

The point is you're doing your marketing. You are fielding the calls. you are going ahead and running to doing that initial qualification. And if it makes sense, you're writing the offer, right? Yep. And some of those you got accepted, some of them haven't, but this one that you got accepted. So once you get under contract, the very next thing to do is to start marketing the property. Right.

Okay. And one of the steps in there is to have your people on the ground to do a drive-by and kind of give a report of what they think it's worth and what they can do with it. But that's just part of the marketing process. And it happens to be someone that works with us right now. But it's not, there's not a direct relationship to where they're going to look at it for us. Okay. So.

Okay. Perfect. Perfect. Okay. So I know you've got, let's start from the beginning. I'm recording the call, as I always do. Okay. And maybe I'll just play this one on the air as it goes.

So let's start from the beginning. Okay. Okay. All right. So up to this point. And the reason I want to do this with you, Lisa, is because I've had two episodes that have generated more interest than any other episodes in the last four years. The first one was on why your personal residence is not an investment, why it's actually a terrible investment. And that got all kinds of response. And then the next part, the next episode was Lisa. Lisa and virtual wholesaling. And everyone always asks me, What happened to that? Every grub and grue at Rich we go to.

What happened to that girl, Lisa? They have like, how's she doing? What's she going? What's all about her? So that's why I have to report back. So we're just going to probably play this one on the air as it goes. All right? Okay.

Okay, sounds good. Super. So up to this point, let's see, we started in December, so two months ago. Yes. And how many pieces of mail have you mailed? Oh, I'm sorry, Matt. I'm not prepared with that. I could go back and count and have that for our next call.

but I do have all my daily success worksheet filled out. I just never tallied them up. I did for you that one time, you know, on our one call, but I've been so busy that I haven't tellied them up. Okay. Well, proves that this is a spontaneous recording. Okay, super. So I think your assignment was to mail out a thousand a month.

Is that where we were starting? I sent out 11. Yeah, you told me to sign out 1,000, but of course I wanted to go above and beyond, and I wanted to send out more. So I sent out 1175. Okay, so how many times have you sent that out? Twice.

Twice. Okay. So there, we're really close. All right. And then the last time we talked, you had written 33 offers based off of those mailings. Yes.

And how many more offers do you think you've written since then? I've written a bunch, right? Because you have me leave an offer behind with everyone. So again, I don't have those numbers. I can. Okay. tell you those again and be prepared sorry that's okay we can go over those numbers again later all right

so we got one accepted though yes finally i've been marketing this one for a couple weeks now okay let's let's slow down so when you when you found this person when you contacted them on the phone they came in via one of your mailings right right okay and then you had that conversation and you just went down the normal three questions yes perfect so the first one was tell me about your situation, what would you like to have happen? And if I could make that happen, how soon would you be ready to sell? Exactly. I've heard you say those several times, so I know you got those down.

All right, and then you determined that it was time to go through the seller information questionnaire? Yes. Perfect. And then did you do that right there on that same call or did you call back later? No, I always usually do it on the same call. I very rarely have people that want me to call them back. Got it.

Got it. Perfect. Okay. So you went through that. And then you submitted an offer, which I didn't even know about because you've got that part down now. It gave you the formula and you're writing your own offers. Love it. And then did they accept it right away?

Did you send it? Actually, did you send it via email or mail, U.S. mail or fax or what? You know what? For him, I have an email. I'm looking at it right now. I sent it to him in an email. And I didn't get it back right away because he was waiting for some things. and so it took a while to get back.

And then he backed it back. Awesome. Okay. And then how much was your offer for? My offer to him was 10,610. 10,000, 610. I like it. Exact numbers.

And you just send him a cash offer. You didn't send him a three-option letter of intent, right? No. I've only sent just one offer. Okay. Perfect. All right. And then you started to market that property.

What were the? some of the things that you did to market it once you had that? Well, I created a relationship with a real estate agent in Alabama, and she's such a sweetheart. She's, you know, we decided that because I get a lot of leads of people who don't want to sell their properties to me and they want full market value, I send her those leads so that she could list it in market it that way. And so in return, what she does for me is she'll go acquire and get the keys from the seller,

and then she'll see a video of the inside of the property. for me and put it on YouTube. And then she'll also take pictures for me so that I could, you know, market it. That's awesome. So how did you meet this real estate agent? It was on Zillow or Trulia or, yeah, I think it was Zillow or Trulia, one of those two. Did you call, you called her? I did, yes.

I called her. Super. And then what did you say to her? Because a lot of people want to know how you build a relationship with somebody over the internet or over the phone when you don't live in that area. Okay. So basically I just introduced myself and I told her, you know, found her number online and I am an investor and I, you know, wholesale properties in Alabama and I was looking to find, you know, an agent that I could build a relationship with. And so I wanted to see if you're open to having a conversation about that.

And she's like, yeah, absolutely. What did you have in mind? And so I just told her. I said, well, I said, I have some properties, you know, under contract. And I'm just, I'm having a challenge because I'm not in Alabama. So what I'm looking for is, you know, I initially told her I was looking for someone to pay someone and do a video for me and pictures for each property. And I was looking to pay like $25 per property. and then so that's how it initially started out

was just to see if she wanted to do that for me and I could pay her and then and then the more we talked and everything you know and the next phone call we had we had a couple phone calls and she said she would do it for me and then when I had a property I called her and said hey you know and I have all these leads that were these people want full market value for their properties and I can't help them so would you like me to, you know, send these leads your way, and then maybe you could just, you know, help me in

return by just doing these videos and taking pictures for me, and we could just call it an even exchange. You don't have to pay me a referral fee, and I don't have to pay you for every property. And she loved it. She thought it was a great idea. So we kind of shook hands over the phone, and it's great ever since. Awesome. Yeah.

So that's what we created. And since then, she's listed two properties. currently still has those listings and she's yeah listing them and um i don't know so she's got two listings out of it yeah she's got two listings they haven't closed yet but um but yeah she's gotten two listings that that's a really big deal to a real estate agent though just so you know is to get a listing i mean it's just because it generates so much other business for them as well and indirectly so super that that's a big value you're providing to her for her to come over and take a few pictures for you.

All right, cool. So this real estate agent took some, they got the keys for you, they took some video, and they put it up on YouTube for you, and they sent you some photographs. Then what did you do as far as marketing? I started marketing on Craigswitz, Slackpage, and Postlitz.com. Okay. And just started marketing three times a day. Yeah.

Love it. Were you doing that yourself, or were you? I am. Yes, I was doing it myself. I have been looking for someone to help. me, but I haven't had success with finding someone to consistently help me with that. So I was doing it myself, and I currently still am. Super.

Okay. And then the person that wrote the offer for you, how did you connect with them? Well, he called me today, and that's actually him calling on the other line right now. He has to wait. Yeah, he has to wait. So he called me because his friend got one of my postcards in the mail that said my husband and I would like to buy your property. So he took a picture of it from his friend and said, hey, I want to call this girl and see what she's doing and see who she is. So he just called me this morning and was asking me a bunch of questions, you know, if I'm buying, if I'm wholesaling, if I'm, you know.

He's also a property manager. So he was asking me if I have property managers already or if I'm looking for one. And so anyways, we just started talking. And I just I said, well, hey, I have some properties on a contract right now. Maybe you might be interested in this one. And I just told him. And he drove by it and called me back and said, I want it. And I said, okay, great.

Send me over an offer. And he's like, you want me to just email you back? I said, no, like an actual offer. He's like, oh, like a contract. I'm like, yeah. He's like, okay. So he just emailed it back to me. Awesome.

So what I love about this one was that through your marketing for sale or for sellers, you actually found a buyer. Yeah. Not only you to find a buyer, you found a property manager all in the same person. Yeah. And then this part was the, it was just a coincidence that it is our property manager. Yeah. Yeah, because he asked me a bunch of questions and who I work with.

Uh-huh. Oh, yeah. I know Matt. I know Mercedes. I know Fernando. And he's like, yeah, I have some of their properties. I'm like, really? I'm like, oh.

That's hilarious. Small world. Small world. Yeah. Okay, cool. So how much did he purchase the property for? What was his offer? The full amount.

So I was asking 13,610. Uh-huh. And I offered the seller $10,6. Got it. Okay. So there's a $3,000 spread for you. Yeah. Congratulations.

The seller won at 15,000. So it took a while to go back and forth. And so, yeah, so we finally agreed on 10,000, six times. Awesome, awesome. Well, congratulations, Lisa. Thank you. We've been working at this for a very long time. And lots of other things have interfered with our progress.

But when you started in December, I could hear something different in your voice. I knew you were committed. and here is your commitment manifested into reality here. Yes. I love it. And I know this is the start of many amazing things, so I'm excited. Totally. Sorry, my phone was going off.

It doesn't ring ever except when I'm recording. Okay, super. So you've got that one done, and what else do you have under contract right now? I have two other ones under contract and yes and currently one I'm waiting to get I'm waiting to get photos in a video of the inside tomorrow and the other one I'm currently marketing. Got it. I love it. Cool. And then when is your next mailing going out?

It's going out February. I've been attending at the 10th of every month. So, yeah, so like around February 10th will be the next mailing. Coming up pretty soon. Yeah. I love it. Okay, so what are your thoughts? What's going through your mind right now?

Because this is pretty darn fresh. Well, I'm just, what's going through my mind is the next step. So I'm like, okay, great. Like, he sent his offer over and I'm like, it's perfect that I have a call at Matt because Matt could tell me what to do. And I open up through and how to get this bad boy closed. Super, super. So I believe, you can check with Mercedes, but I believe that he will probably direct you to the same escrow officer that we would direct you to.

Okay. And it's very simple. You send in both contracts into the escrow officer and then have them coordinate the closing. There's not a whole lot for you to do. They're going to send you over some papers and docs to sign. But not a whole lot for you to do there. And then, of course, you know that if you do get stuck, you do have our support. But this is all the easy part now.

And now it's just downhill. Sales pitch? Sales pitch? We don't need no stinking sales pitch. Here's the ball busting truth. You can make excuses or you can make money, but you can't do both. Get the new free book, Epic Freedom, the two easiest and fastest strategies to a paycheck in real estate. You heard right.

No sales pitch. It's free. Go to free epicbook.com. No more excuses, just real world strategies to making real. money in real estate. Free epicbook.com. Free epicbook.com. All righty, that's it for today. I'm Matt Terrio, living the dream. You've been listening to Epic Real Estate Investing, the world's foremost authority on separating the facts from the BS in real estate investing education. If you enjoyed this show, please take a minute to visit iTunes and share your thoughts.

Thanks for listening. We'll see you next time here at Epic Real Estate Investing with Matt Terrio. This podcast is a part of the C-suite radio network. For more top business podcasts, visit c-sweetradio.com.