The Science of Flipping - Episode 184: Rancher Makes $12,000 in 30 days Wholesaling Real Estate

Episode Date: January 29, 2021

Rancher Makes $12,000 in 30 days Wholesaling Real Estate

Talking about top-line revenue and top-line deals done. Listen, if you do 200 deals this year, but you only make money on one of them, who cares that you did 200? If you do $2 million this year, but it takes you $1,900,000 to get there, who cares that you did $2 million? What's up, everybody? What is up? Welcome back to another podcast. I have a very special guest here with me on this podcast episode. And he is going to talk to you about a deal that he got done, found the deal, lined up the buyer all within 30 days, collected a check, put it in his bank account. But before that, just really quickly, if you are not yet watching my YouTubes every day, I drop a YouTube

video each and every day over at youtube.com forward slash Justin Colby, as well as you are listening to my podcast here that I drop a podcast each and every day here at the Science of Flipping podcast. And if you need anything at all in your business, check out the science of flipping.com. Go over and check out the science of flipping.com. If you want to talk to me, any of my management team, we are happy to help you along those lines. But I want to bring in the man right now who I could not be more proud of. Someone who I've been coaching now for a very short amount of time and he has taken what I taught him and literally found a deal, found a buyer and put 12 G's in his pocket all under 30 days. I want the cowboy closer himself. Clifford Walker,

what's up, dude? What's going on, man? Man, I can't even do what you just do, doggy. I like that. You got to be country. That's it. I don't have enough of that countryness in me, man. Right, right. Dude, listen. So I have you on here on this podcast. It's going international. It's literally on iTunes, Spotify. It's everywhere. You yourself are in Texas, right? Yes, sir. The Dallas-Fort Worth market. Dallas-Fort Worth. I love that market, man. I've done a lot of deals over there and you're about to do a whole lot more, baby. You're about to do a whole lot more. So let's talk about this deal. You know, again, I'll let you give your story and, you know, maybe a little background about you, who you are and

what's happened and what's transpired over your short career so far. And then dive into the deal. Let's talk about the deal. So give us a little feedback of who you are, dude. Yeah. So my name is Clifford Walker, the cowboy closer here in Texas. I am a rancher, so I'm not all hat and no cattle. But so I've been in real estate now, just fell in forward, mainly wholesaling, doing a few flips. April will probably be my, well, not probably, will be my second year in real estate. And then just trying to level up as you told me and started getting coaching from you and now turning it into a full-blown business and not just a hustle. Yeah. When we first met, I don't know, a little while ago, what I heard in your voice and where you were at in your business, and you

have already been in the business for about a year, but tell me about that year. When we first talked, there was a lot of struggle there, right? You were trying to figure it out. You were brute forcing everything, you know, you were kind of skating by like barely enough money to live, but enough money, you were doing enough deals that it was still sexy enough, but it wasn't exactly the money you want. Let's talk about that for a little bit. Yeah, it was, it was, I was, like you said, I was doing the deals. My assignment fees really just weren't what they needed to be to grow and scale a business. And so it was a lot of just failing forward and just kind of stumbling blocks and hitting my head and picking myself up kind of deal. And then I knew that, all right there there has to be more to it or what am I doing wrong or or not doing right yeah well and a lot of that has to do with like

what is your game plan what's your blueprint and then running the blueprint running the game plan like last night was uh you know Tom Brady versus Aaron Rodgers. And I'm a sports guy myself, right? Like Tom Brady just runs the game plan, right? And he sticks to it. And what the game plan is, is what he runs. And then he ultimately becomes Tom Brady. And I think a lot of people, the reason why I wanted you to talk a little bit about that is I think there's a lot more people in your space

than you would maybe even think. I think there's a lot of people that are doing deals you would maybe even think. I think there's a lot of people that are doing deals, but maybe they're not very profitable, right? Like deals are coming through, but they're kind of, you know, like I said, it's like running through walls when there's a door right over there, right? Like they're just brute forcing it, doing whatever it takes and they're spending marketing money. And then they look down at their profit and loss and they're like barely breaking even. They're barely creating enough money to really pay their bills. And I think that's a common thing right now. And obviously when we spoke roughly a year into

your business, you were right about the same spot, right? Yeah, definitely. There was no structure there. So I was spending marketing dollars, getting the deals, but wasn't tracking anything. So I didn't know what my KPIs were. I didn't know how to scale. I had, I didn't have any of those systems, excuse me, in, in, in place to turn it into a business. Yeah. And a lot of people want to do this business to make it a business, right? They either want to fire their job. They want to be their own boss. They want to create the level of income that they always desired, right? The same reasons, essentially, we all do it, right? And then ultimately to create wealth, right? But one thing that is for certain that I've found after coaching thousands of individuals across the nation is if there's not an actual game plan

or a blueprint to follow, more often people fall into what you were going through in that first year, which was you were probably listening to a million different podcasts. You were watching a million different YouTube channels. You were all over the board. You knew enough to kind of get deals done and to be dangerous, but there was not an actual recipe to follow. Right. Exactly. And that's what, you know, that what, that's what leads us to kind of this episode is, is I, you know, got my hands on you, dog. And I said, listen, man, you need an actual recipe. You need a blueprint and I'm going to show this to you. And that's when, you know, I brought you in and started coaching you, but let's talk

about this deal. I mean, it is, it is not uncommon for my students to be able to go out within 30 days. And you even heard Marina on our last coaching call, right? Like she immediately took action the way you did and it like lined up a deal. Now talk to me about this deal. How did you get it? How did you find it? What transpired? How did you get a buyer for it? How did this all go down within 30 days of you learning this process? So, yeah, I don't know how deep I'm supposed to get into it, but I got this deal from one of your free marketing strategies that you coached me and taught me that it was kind of one of those things where it's a marketing strategy that everybody knows about, but nobody's doing and or overlook it all the time. And so, again, it was one of those just aha moments like there's

the door right there. Walk through it. Why are you going to run through the wall? That's right. So I did. I started implementing that strategy into what I was doing every day and picked up a free deal from another wholesaler that was needing to get the deal moved. And I just went through the steps that you took me to. Like, it really was, man, it was simple. I mean, it wasn't that complicated. Like, I found the buyer. I had been working on my buyers list and always continue to work on it by not just getting buyers on social media, but networking and actually vetting those buyers by picking up the phone and calling them and saying, hey, what are you looking for? What areas, what cities, you know, criteria, price range, trying to build a true relationship with my buyers.

So I know that, okay, Justin's looking for a three-bedroom, two-bath, this price point in this area. So when something comes up, I can now go to that buyer or in that area and say, Hey, I just picked something up for you. I think it's worth you looking at. Yeah. Um, and essentially that's, that's what I did. So from the time that I, um, JV with the seller, the, the, the co-wholesaler that I was working on, I mean, it was less than 30 days and we got, I made 12 grand. Yeah. Yeah. Let's go. Let's go. And then from that point, talk to me about what's

happening with your business and how you already have other deals already lined up, ready to move, ready to close back to back. Now this is becoming a system, a recipe that you can just follow every day, every week, every month, every year, right? Yeah, absolutely. So kind of like what you're teaching me. So now I'm taking those funds, that free money that I made and dumping it into more marketing to generate more leads, but not letting off the gas pedal on this. And so I have two more in the pipeline. One, I literally just signed a contract today with a wholesaler. I did see that this one was a home run deal. And so I structured it a little bit differently to fully capitalize on it. Sure. I love it. Get creative. Yeah. But it's a 40K wholesale that we'll get off of that. And

it's scheduled to close on the 5th of February. Oh my gosh. Today's the 25th. Oh my gosh. Next Friday, I'm going to be waiting on that. Let's go. This is what I'm talking about. And this is the same type of system, rinse and repeat, right? You didn't do anything different. Go out there, find the deal, line it up with your buyer, get paid each and every time, right? Every time. And so now I want this to be a full part of my business. Yep. Is that the word? 100%. So like the way I say it is I have a department, right?

Yeah. Now I have a cute name for this, right? I call it the inverse profit method. Inverse profit method. So people talk about OPM, right? Other people's money. I call this IPM, inverse profit method, right? And so I have a whole department that focuses only on that. That is their only role all day, every day is to have that. And so that's your next phase, right? That's what you're talking about? Yeah, absolutely. So I've done it now myself and gotten paid doing it. And now I'm doing the training to hire somebody or bring somebody on that can do that full time going forward and let that be a full department or section of the

business. I love that, dude. I love that. So what's your goals for 2021? Let's talk about it. We are three and a half weeks into January. You crushed out a monster deal, 12 G's in the first 30 days and got paid on it. You have another deal lined up already and it sounds like you're going to make more than that on the second deal. What are your goals? What are you trying to achieve here in 2021? For one, build out more consistency and deal flow. I do have a dollar amount that I want to hit, which is $516,761. Damn. Can you be a little bit more exact, please? I'm hoping you're not just rounding it off to the nearest dollar. No, no, I'm really not. So that's a specific number that my wife and I like have our business goals. Like we have true financial goals that we want to hit and love it down to roughly forty three thousand dollars a month and some change.

But to hit that net profit consistently. So definitely start building out some consistency and start building out a portfolio. So it's small, but only four rentals this year that I want to throw in the bag, just one a quarter. Hey, it's four more than you have started this year. Yeah. So that's all progress, baby. One thing a lot of people don't understand is they may hear me on this podcast. If you're listening to this on iTunes, there's a video version of this on YouTube. Go to YouTube, watch the video version, say what's up to Cliff, the cowboy closer. Look at the big hat he's got on. We're both wearing hats.

His hat's way better, by the way. So if you're listening to this, go over to YouTube, subscribe to my channel, Justin Colby. But the one thing I will tell you is people see me 13 years, going on 14 years in my career, and they take a snapshot of that. That's what I want. I want to be able to have multiple departments, multiple cities, multiple... But man, that takes a while. I mean, it takes years to get there, right? I've invested hundreds and hundreds of thousands of dollars in my own coaching to get to where I'm at today, right? I've invested hundreds and hundreds of thousands of dollars in my own coaching to get to where I'm at today, right? And so what I would tell you and I tell everyone is this is a patience game. I'm not telling you not to be hungry. I'm not telling you not to be

motivated. I'm not telling you not to run through walls when you have to. Absolutely, you need to do all that. But also realize there's a difference between someone like yourself that's two years into this business and myself that's going on 14 years into this business. There's a big gap there. So give yourself that patience to be okay with growing. When you say only four rental properties, brother, that's four more than you have right this second, right? So that's all gravy. That's all to the good. Be okay with that right now could you get to eight i think so especially running the model i've been able to coach you on now for the past nine ten weeks or so but you know listen start somewhere and achieve and be very grateful for the amount of progress you make i think we all have these really massive goals, right? Big, hairy, audacious goals.

And we miss the little things that we achieve along the way, right? And it takes away from our enjoyment, right? And takes away from our happiness about why we're even in this business. Like, what have we done? Why we're doing this? And you miss those like celebratory moments, like, you know, learning how to get a check in 30 days and now being able to rinse and repeat that now to you, I know that was celebratory, but like, if you get four deals, like go for eight, but don't forget to celebrate the four, you know what I mean? Absolutely. And I think that actually that was a mistake.

If I can be honest that, that I made looking at you veterans in the game and the lifestyle and the cars and social media and everything else. I almost had to pause that and just focus on, okay, myself, my business, my family. Like you said, start with the end in mind. What is it that I'm trying to get out of this? At the end of the day, I don't want real estate to be my end all be all. I actually have a servant heart. I have a nonprofit that that's where my heart is, you know? So if I can build this up and build enough rentals and things of that nature to where I can fully run and scale my nonprofit, like that's the way I want to go. So game over, right? That's the ultimate life for you. And I love that, right? Because listen to run a nonprofit and to do the good

that you need to do in the world, you need to make money. And I love the altruism of a nonprofit where I disconnect is maybe I'm a little too much of a capitalist, but that nonprofit needs money from somewhere. So why not go out there and make it? One person said it best is a nonprofit should be termed a tax exempt. That's right. Instead of nonprofit. But yeah, it definitely needs money to run and it costs money. And that's something that I've also set up to where now my business will pay 5% of its profits to the nonprofit to keep it. So as I grow in real estate and investor, I'll also grow as a philanthropist. That's fantastic, dude. That is awesome. Well, bro, I appreciate you. I'm so happy to see your success. Obviously, I'm invested in this with you. Dude, you're going

big places. You're going to make plenty of money. You're going to do plenty of deals. Just keep rinsing and repeating the process. Don't overthink it. Don't try to think that you're smarter than. Just keep doing. And those things, those four rental properties will turn into eight real quick. That two or three checks every single month turns into four to six every single month. Just be patient. Continue to work hard. Right. And don't you know, you're going to start to make some pretty good money here really soon. You know, keep that same work ethic that got you here. I think it's interesting. You know, you're a part of my coaching. And so, you know, some of my other students and and I won't name any names, but there's a very successful student that I coach. And one of the things that he mentioned to me was how empowering it is to hear someone even like yourself or others that are on my coaching that he's forgot the things that got him to where he's at. Like he does seven figures a year already.

He had hired me to make sure he understands how to scale and grow so he doesn't have to work as hard but the reality is he's been around so long that he actually forgot what got him there don't do that that would be my my suggestion there right like keep doing the things that are getting you the results that you want and never forget them right it does I'm not telling you don't grow and you know try different marketing and do different things, but you don't give up what got you to this place. But what does get you to the next level is different than what got you here, right? So once to your point, once you are able to replicate what got you here,

find the people that can run that for you. So it still runs every day and then grow, level up and then have a different, whether it's different division, whether it's different marketing, whether it's different, whatever it may be, that's how you get to scale. And then lastly, I would tell you, dude, focus on profits, focus on profits. There are too many people out there in the social media space talking about top line revenue and top line deals done. Listen, if you do 200 deals this year, but you only make money on one of them, who cares that you did 200? If you do $2 million this year, but it takes you $1,900,000 to get there, who cares that you did $2 million? So those numbers

are very sexy and cool for social media. But at the end of the day, focus on profits. How much money are you putting in your pocket? So you can do things like reinvest it and be altruistic and go into your nonprofit, et cetera, or just simply create the life that you and your wife really want. So if you focus on those couple of things, brother, you know, you're, you know, there's no bounds to what you can go and achieve. Absolutely. Actually, I wrote that profitability and consistency, like on my board in my office. Like, um, I tried that the first time, like trying to hurry up and bring people on and hire and, and all that, that, yeah. So it doesn't work. No profitability and consistency for sure. Amen, my bro. Hey, thank you so much. Appreciate you as always.

Where can people find you if they want to look you up? They want to do deals out in DFW. Where can people find the Cowboy Closer himself? Definitely on Facebook and Instagram, Clifford the Cowboy Closer. My nonprofit is Cowboys for the Community.

We're on Instagram and facebook as well definitely come out and and hang out with us and serve if you're in the dallas fort worth and uh if you need any any deals move definitely reach out to me for sure let's go baby let's go all right man i'll talk to you on our calls, bro. Alright, brother. Thank you. See ya. Outro Music