Wholesaling: Quick Deals for Cash

Wholesaling can be an extremely profitable niche of the real estate investing industry – and, it’s often one of the fastest ways to earn the cash you need to continue building your business and income.

In this expert interview, Josh is joined by Joe Nemeth of Lorain County Homebuyers, LLC. During the time that they’ve known each other, Josh and Joe have teamed up on a variety of wholesaling efforts. Because their target markets are in close proximity, they are able to send each other hyper-buyer references and property leads on the regular.

In this podcast, Joe explains how he finally embraced his interest in real estate investing and dove into a full-time wholesaling career, after quitting his comfortable 9-to-5 job. He also shares a few case studies of properties he has recently wholesaled – and how he found the seller and buyers for these deals.

Joe and Josh also discuss the advantages of having a solid list of 5-6 trusted hyper-buyers that you can work with regularly – and why this method is better than having a long, long list of hyper-buyers.

As Joe explains, the key to being successful in this industry is by staying active (and by that, he doesn’t mean exercising – although that’s entirely beneficial too!) By actively finding deals, building rapport with hyper-buyers, and keeping yourself on track with your goals – you’ll be well on your way to a profitable venture. Find out how Joe did it, and learn more about the techniques you can apply to your business:

Watch and learn:

Listen and enjoy:

What’s inside:

  • Surefire ways to find hyper-buyers in your market
  • How to build rapport and maintain your relationships with hyper-buyers
  • Several case studies of properties Joe has recently invested in
  • How to work with other investors and wholesalers to boost your business
  • Joe’s top piece of advice for succeeding in real estate investing

Join us live:

If you’re a wholesaler who would LOVE to find a super-buyer to flip houses to, then you should REALLY try to make it out to the Flip & Fund Summit 10 on December 7-9 in Las Vegas, Nevada. Because the room is gonna be packed with elite investors.

So not only will you learn what these super-buyers are looking for and how to find them… you might actually be able to pick up a profitable partnership of your own! (I actually first met RJ at the Flip & Fund Summit!)

Mentioned in this episode:

Transcription:

Download episode transcript in PDF format here…

Welcome to Strategic Real Estate Coach Radio, hosted by Josh Cantwell and Kyle Garifo. Strategic Real Estate Coaches, where the nation’s leading real estate investors, brokers and agents turn to transform the way the real estate business is being done in neighborhoods across the nation. If you desire to make more money, do more deals, grow your passive income and build the lifestyle you’ve always wanted, you need Strategic Real Estate Coach.

This powerhouse team is led by Josh Cantwell, a seasoned investor with nearly a decade of experience, over 700 transactions and over $5.5 million in fundraising generated for himself and his partners. Now, sit back, listen, learn and accelerate your business with Strategic Real Estate Coach Radio.

Josh Cantwell:   Hey what’s going on everybody, Josh Cantwell here, CEO of Strategic Real Estate Coach and Freeland Ventures. And now we’re back with another interview, another expert interview and I’m excited to be talking with all of you today. Specifically, about marketing and wholesaling, doing deals for quick cash and I have on the line with me today, my good friend Joe Nemeth, uh, and uh, Joe was also in my local market.

We have a special kind of interview opportunity for all of you listeners today because I want to talk a little bit about Joe’s journey from having a full-time job doing part time real estate, part time wholesaling to quitting his full-time job to be a full time all the time real estate investor, and… Joe and our work together on, on a lot of deals. Joe was out in the field finding lots and lots of deals, for me and for other sort of super buyers are hyper buyers who are out there in the marketplace. So, Joe, welcome aboard my friend. How are you today?

Joe Nemeth:       Good, man. I’m good.

Josh Cantwell:   Nice. Just good. Huh?

Joe Nemeth:       You know, I’m a little nervous to be here, but it’s all good though, man. It’s out of my comfort zone. But hey man, you got to do what you got to do.

Josh Cantwell:   I asked Joe to be on today specifically to get Joe out of his comfort zone, and also so all of you that are watching this and listening to this know that, neither one of us are sort of professional speakers. Neither one of us are, you know, I’ve been doing this for a while, but even I’m not super polished by any means. We’re real estate investors, real estate entrepreneurs at our core, at our heart who love to put out great content for our numbers. And so, Joe, why don’t we just start by, why don’t you just start by telling everybody about that last deal that you just closed out in Elyria. Tell everybody how you found it, the price he got afforded, and what you’re able to wholesale it for, and how you found your buyer. Let’s just start with a cool case day. Go ahead.

Joe Nemeth:       All right, cool. Let me see here. So that deal was actually, let me see. Was actually in Sheffield Lake. So yeah man, so that deal actually came in from a direct mail letter. All right. I sent, you know, sent her a letter. Actually, actually it wasn’t a letter, it was a postcard, right? To a pretty, a pretty big tax delinquent list maybe, about 1200 names. Right. And that was the third time that I mailed that one, like when she contacted me. Because most people think they’re going to send letters out and then get a bunch of first context and that’s not the way it is in this business, you know, you have to send multiple times to get people to contact you, you know what I mean? So, she contacted me about it, you know, stuff. I went out to the property, you know, I mean it was pretty rough, you know?

Joe Nemeth:       I’d say she with somewhat, maybe like a hoarder. Okay. That’s good because the whole upstairs was, I mean it was like two, let me see. There was like two dumpsters full of trash up there. Right. So that’s the only reason that I actually even liked, you know, took title of the property right, you know, instead of just doing an assignment on it because I wanted to go when they were quick to clean it up really quick. Right. Because most times, you know, like when you walk buyers to a property that’s kind of trashed out, you know, stuff they want to beat you up on price over it right. That’s happened to me a lot in the past, you know, and I knew that if I was actually able to get trash out of there, I could, you know, get more money for it, you know what I mean?

Joe Nemeth:       So that’s what I did. Right. So, I closed on it, right. Let me see, I actually bought it for, let me see what I bought it for. I actually bought for ten thousand bucks, right? There was $12,000 in back taxes owed on it, but I, you know, I, you know, I mean I chose, chose not to pay those off right then. Basically, I did, you know, as I, as I just assumed the back taxes, right. So, when the buyer bought it. That’s when the back taxes got paid off. Right. So basically, I bought it, I bought it about for 10,000 bucks and you know, and once I had it, you know, it cost me 500 bucks to get a guy to go into your man for a whole day and just clean the whole place out, you know. But like I said it was, it was two, 12-yard dumpsters full of trash in the house.

Joe Nemeth:       So once that happened, you know, I mean honestly man at the first buyer that walked through the property said he wanted it, you know, so I said, I was like all right, cool. You know, and I ended up, you know, sell it to him, to him for it was a 55,000, right. So once the back taxes, you know, were paid and stuff and closing costs, whatever. And ended up actually netting. It was like a $31,000. That’s my biggest wholesale deal today. That was the, that was the biggest one, right? The one I did prior, let me see the next biggest one prior to that was probably two years ago and that one was for 14,000 and at the time I thought I thought, you know, that was big at the time. I was like, oh my gosh, you know what I mean? So, you know, it’s cool man, because like when you’re in this business long enough, man that checks just get bigger and bigger, you know what I mean? It’s so. Yeah. So that’s pretty cool.

Josh Cantwell:   So, Joe you told me about Joe, we talked about that to your when you had it under contract, but Sheffield Lake is like an hour from me and its way west and up by the, by the lake, by Lake Erie. So, I just, you know, didn’t even, didn’t even really go out to when or anything like that. You know, I knew you had a bunch of buyers already in that market and so you have sort of a small group, a small list of super buyers or hyper buyers who bought a lot of properties from you off there on the far northwest side of Cleveland. So, tell me about this buyer, how long have you been knowing them, you know, does he buy properties from you regularly? How are you finding some of your sort of regular, recurring sort of super buyers in that core market that you operate in?

Josh Cantwell:   And people need to know going Joe and I have I’ve been working together. I’ve known Joe for a couple of years. Joe is a former student of ours and just in the last really four to six months. Joe is now also a working with me a lot trying to find properties in my market. My market is really 30 to 45 minutes, almost an hour from Joe’s sort of corn market where he’s been operating for the past five years or so because we’re on two separate markets. So, there’s only two kinds Joe, super buyers that we’re talking about. You have your, your super buyers out in Elyria, Sheffield, Lorraine market, and then there’s me and some other buyers that you have more in the Cuyahoga County, Medina County market. So that particular buyer where they come from?

Joe Nemeth:       Okay. So, let me see. So, let me see. I actually met him through a friend of mine. Right. And let me see. He’s actually bought some cheap rentals from me in the past, right. I think, I think I might have wholesaled them probably two or three properties. Right. And then just last year he said he, you know, when I started doing rehabs because he actually uses private money to fund his deals? You know what I mean, so, you know, so I’ve kind of walked him through some rehabs in the past, you know, but I mean he just wasn’t interested in them, you know what I mean. But then, you know, I don’t know, maybe like a month or two before I even had that property right. He actually contacted me and asked if I had anything available at the time. I said no, not yet.

Joe Nemeth:       You know what I mean? So, I did get that one under contract. I kind of knew like he was going to be interested in it because I know, you know what I mean. So, when you, when you deal with your buyers for a long period of time and they buy from you, I mean you kind of know what they pay, you know what I mean? And that’s one thing too that I want to discuss really quick. You know, it’s like when I first started doing this wholesaling business, I thought, you know, like I had to have, like, you know, this huge buyer’s list with like a thousand people on it, right? Because that was the only way to make money and that’s what you’re taught to do in the beginning. It’s just, you know, build that buyers list, build that buyers list. Right. But that’s, you know, I mean that’s kind of theory to be honest because simply honestly, honestly, probably two or three years ago, man, I threw my buyers list the way and I, and I just started to wholesaling, you know, all my deals to the same, same five or six buyers because, right.

Joe Nemeth:       Because you know, it’s most the other buyers on the list were just tire tickers, like I said, I mean, you know, you send them deals and stuff, they never respond back to you. So that’s not even a buyer, you know what I mean? That’s, that’s not an actual buyer to say that’s on your list because you know what I mean? So, like, you know, and that’s when I started in started closing deals is like when I just sent it, sent the deals to the same, you know, was like five or six buyers. Like I said, you know, like, you know, who had cash. We’re looking for deals, didn’t waste my time. Right. They close in two weeks or less than that even, you know, so, you know, so that’s, you know, something that I would, I would say to the guy starting out, you know, it’s like you just need to have a couple of guys, man, you know who close. Yeah, I mean, yeah.

Josh Cantwell:   That’s all it takes. That’s all it takes. Somebody like my friend Justin down on the Northern Kentucky Cincinnati Market, he wholesaled 16 properties, to the same buyer in one year. In the last three or four months I bought four properties with Joe and same, same sort of criteria I’m looking for bigger rehab projects, but I also bought a two-family rental, and we can close quickly. I mean every single one of those deals, once we were committed to closing on, I think were maybe 10 days or two weeks like that deal on Detroit Road. Think it was once we finalize the deal, we have the seller under contract. It was like the guy was going out of town April, 15th. And he called and was like we can close when I get back from vacation, I’m like, how about we close now and we closed. I don’t know where that thing under contract in late March. And you closed April 1st. So, you know, it just kind of have people that can close, people that are professionals.

Josh Cantwell:   And one of the easy things to do is when we need a buyer and what I do is I like to see proof. So, when I meet a buyer or somebody that says that they’re doing a lot of deals, okay, show me, like, show me your portfolio or show me a PowerPoint presentation. Show me your resume. Give me some addresses, give me something other than you’re interested. Give me something showing me the deals that you closed because I just don’t want to waste my time. Today’s Day there’s plenty of sellers, plenty of buyers, there’s tons of private money, but what we don’t have, there’s not a lot of time. So, Joe, with those, again with that group of three, four or five buyers, tell me about that. How did you get to kind of work with them over time, build a relationship with them and consistently go back to them and can I get them to reveal their criteria so you could just go find inventory for them?

Joe Nemeth:       No. Yeah, and that’s the one thing that’s cool too about like working with the same buyers over and over. I mean it’s like you build up, you know, you build up like a really good rapport with them, you know what I mean? Really good relationships with them. So, like when you’re walking into a house that’s occupied for example, like, like I mean like you don’t have to worry about, you know, like walking 20 buyers through a house, you know what I mean? Like, like you pretty much know, like, you know, like if, you have certain buyers will buy that property or not, you know what I mean? And that kind of helps you get your deal sold faster in my opinion. All right, let me see the very first buyer that I ever actually got basically because like I said, you know, I mean, when I first started doing this I was like, you know, looking for buyers because I had none right.

Joe Nemeth:       So, I went to, let me see what website it was. I think it was, I want to say it was, it was Realtor.com, right? And sent a bunch of emails to realtors on there saying, hey look, you know, I just got started in this business. I’m going to find a bunch of deals, right? I’m looking, I’m looking for good buyers, you know. And I said to him, I said, hey, you know, if I, if I find a really good deal and like I show it to you and you have a buyer who buys it, I’ll pay you 500 bucks when it closes. Right? I sent it to like 100 people, right? And it was one realtor who responded to me and said, yeah, right. And that she had a buyer. She had a buyer who bought my first deal from me and I think I ended up selling him probably, you know, probably 20 properties over the past couple of years. But that’s it, that’s one way to find buyers in my opinion. I mean, like I said, that’s, you know, that was actually the very first buyer that I got, you know what I mean? So, um.

Josh Cantwell:   Another good way to find buyers, especially super buyers, is to find out a lot of times maybe co-wholesale a deal with somebody. And what I mean is you have other wholesalers that have inventory and those inventory that they often work with the same buyers. Buyers are looking for more inventory. So, you say, listen, tell the wholesalers, listen you have some buyers I have inventory, so if you let me wholesale to your buyer or introduce me to your buyer, and I bring the deal, the seller deal, we can co-wholesale together and split the fee somehow and get introduced to another buyer. Other ways. Pretty simple guys. Right now, the market’s hot, people are looking for inventory. You’ve got lots and lots of people doing like we buy houses, marketing, bandit signs, postcards. You go into a house and you see that a seller. Sometimes we’ll have a stack of letters of postcards, right, and they felt sometimes keep them and they call you. Then you’re good to go. I’m going to call you, and you’re like, okay, great.

Josh Cantwell:   We’ll show me those postcards. So, me, those letters. Who did you get those from and just hang onto those. Especially if you have buddies who owned a lot of rental properties. A lot of people who own rentals are on these motivated seller list because they’re out of town and landlords are out of town owners or they’re not occupied, so there are a lot of direct mail lists and they receive lots of postcards and letters, but they really don’t want to sell their rental portfolios, but when, when they do receive those postcards, letters, tell your buddy, hey, give me those postcards, give me those letters I want to call those people. We’re marketing to these people, but our other real estate investors and find out who they are. Are they a wholesaler or their rehabber or a renter? Can you co-wholesale with them? These are all different ways.

Joe Nemeth:       One thing really quick too, Josh, right now man, I mean because the market is so hot, there’s investors coming out. You know what I’m saying? Man. Crazy right? I’ve, you know, I mean like I like to post the deals right now, like going onto Craigslist because you’ll get a lot of people contacting you daily for those properties you know. Craigslist right now is hot, you know, I mean, I mean for finding buyers right now in my opinion, so.

Josh Cantwell:   Yeah, that’s always a good one because you know, you can’t really market a property on non mls unless you did what you did Joe. You buy it, you take it down. Even if you’re wholesaling it, you actually use your own cash or funding to close on it for a minute and then try to find a buyer so you can get the property cleaned out. Our friend Darren did the same thing. He had a property on Gill Drive on Lakewood and he worked with the seller and negotiated a price for $68,000 closed on it, put it right back on the mls, cleaned it out, put it right back on the mls a week to 10 days later, sold it for 135, so $50,000 wholesale fee. And he maybe owned the property for three weeks or something like that. So, but that’s still a wholesale deal. It just got to have funding for a minute.

Josh Cantwell:   So, when people talk about real estate especially wholesaling, you can do it with no cash and no credit. You can do it by finding buyers from Craigslist or finding buyers from direct mail. You can do it. Then by bringing those buyers, some of those hyper buyers going, back and co-wholesaling deals with investors and wholesalers that already have seller inventory. And you’re just going to get probably half the fee or a third of the fee or 60 percent of the fee. You’re not going to get it all, you’re going to co-wholesale, but it’s really just about find those couple of hyper buyers. And, but trust me, you’re going to lose out on some deals with no money at all. Ideally you some private money or cash or some sort of line of credit. Because like Joe just did that little $10,000 deal. But if he didn’t have the cash to close that ten grand, the other buyers probably would’ve come in and they would have got rid of all the trash, all the garbage. And then probably would have got all the offer. Right? So, it’s not just one way to wholesale. There’re a couple different types of strategies. Assignment deals are great, right? But closing on them sometimes and cleaning them out and get more money for them by being able to do that too.

Joe Nemeth:       Exactly. Exactly. And I’ve lost honestly, man, I, you know, I would say probably $300,000 over the past six years of doing this. Simply because I had had to take less offers for my properties just because I didn’t, you know, have, you know, access to the funding to buy a property, maybe clean it out or something like that, you know what I mean? And then end up taken half of the fee maybe for example, like, you know what you said, that’s happened to me countless times when I was doing this business, you know, and it sucks. It sucks knowing you can make 30 grand on a deal, but you got to wholesale it for, you know, five or 10, you know, it sucks man.

Josh Cantwell:   Yeah, absolutely. So, Joe, tell everybody a little bit about that deal in Brecksville, one of the newest ones that we talked about and just some numbers on it. Again, working with some different buyers on it. You know, how did you find it? What’s the exit strategy, how are you getting similar buyers through it and what does that tool look like for you?

Joe Nemeth:       So yeah, so that one’s basically. Let me see, let me see. That was a referral actually, right? They called me up because they know what I do, you know, and stuff. They know this is my business now full time. So, you know if they wanted to give me the opportunity to buy the property. So, I was like alright cool. I went to look at it, you know, and stuff. And it’s kind of funny, you know, because sometimes like if like if you know, you know, you just walked through with the homeowner stuff and just let them talk about things, okay. Because they’ll beat the property up themselves, you know what I mean? Like I was walking through the house, you know, and stuff. And he was saying, oh yeah, you know, like, you know, you know, I mean the house is a mess, you know, and stuff needs to be updated and all that stuff.

Joe Nemeth:       I’m thinking, you know, I mean, yeah, it needs to be updated, but you know, it’s like not a mess, you know what I mean? So, the buyer oh sorry not the buyer, the seller just kept beating the property up in his own mind about the house. You know what I’m saying? It’s, you know, it’s a wreck but it really wasn’t right. So, you know, I mean the property is in a good area, you know, I mean it’s, it’s like a good area, you know what I mean? I was, let me see. I ran, ran comps on it, you know, and stuff. And it comps out at around 240 to 250. Right. And I was actually able to get it under for, like it was a, let me see if 115. Right. And you know, I mean I think I thought the rehab on it was anywhere you, it was anywhere from 35 to maybe 40ish, you know, and stuff.

Joe Nemeth:       So that’s what I was using to show buyers and stuff. And actually, you know, I mean I put, I put the one on Craigslist just to get some feedback and just, you know, just this to see, you know, because you never know who’s looking for a property, right. I mean you might put something on Craigslist or something for sale at the right time, right. Then you have a buyer, you know, you have a buyer who wants to pay retail for it. Right. And that happens, you know what I mean, you know what I mean and stuff. So basically, you know, I mean you know, let me see, I threw it up on Craigslist and stuff and I would say see probably 60 people you know who want to see it, you know, stuff, you know. But I mean, you know, I, you know, I mean I’m looking at possibly, you know, I think with those numbers, you know, and I feel know pretty confident with the numbers on this one, but I think you know, I could probably wholesale it and maybe making maybe make like 40 or $50,000 assignment fee on it, you know what I mean.

Joe Nemeth:       As far, far as like an exit strategy on that one. I mean I don’t like you, you know, I mean I don’t, I don’t think I’m going to take title to it, right? Because it doesn’t really need to be cleaned out or anything, you know, you know, I talked to the seller and you know, I mean he’s actually going to get a dumpster over there to clean out all this stuff on their own. You know what I’m saying? Something, you know, what I’m saying is when that stuff’s all out, you know, I mean then you know, it’s, you know, it’s ready to go. You know what I mean? So that’s a pretty hot area in Brecksville.

Josh Cantwell:   Yeah. And that’s the thing, like, so people will probably be wondering like, what is the structure, how does it work with Josh and Joe? So, let’s just talk about that for a quick minute. And so, you know, Joe quit his job, and one of them was we will say full time and Joe was already doing real estate for three or four or five years. So, Joe and I are not like formal partners, but we have an agreement, sort of a gentleman’s handshake agreement. We wrote some things down on paper as far as some splits and stuff. But you know, Joe does marketing on his own, spends his own money, whether it’s postcards or for Facebook or for letters, or just goes out in the field and does his own thing, networks with his own was people. That’s his own lead. He can do whatever he wants with that deal.

Josh Cantwell:   He’s his own businessman, he’s his own business and he’s, he is trying to give me the right of first refusal because I’m a super buyer, I buy properties all the time and I have cash to close like in an instant. So, Joe said, hey, you know, I’ll give you right at first refusal on every deal, but I’m not shoehorning Joe into like he doesn’t have to sell every one of those properties to me. I want Joe to be successful. I want Joe to make money. My phone’s going off. I’m want him to be pretty successful. So that’s one arrangement where Joe just give me an opportunity to buy it if I want it, great we agree on a price. Joe gets a wholesale fee. Then on top of that, I spend money on marketing, direct mail, postcards, Facebook ads, etc. All of those leads go to Joe and Joe because I have multiple businesses and things that I’m doing and Strategic Real Estate Coach, Freeland, my own investment, rentals, commercial buildings, act.

Josh Cantwell:   Joe loves to be in the field looking for properties, talking to sellers like it’s. And he’s really, really good at it, so just so we can each kind of do what we’re really good at. All those leads that I’m basically paying for, go to Joe. They go through our software, he follows up calls on those and he works on all those. And then same thing, if a deal gets under contract, I’m going to buy it. If I don’t buy it, then Joe and I are going to wholesale those together to back to the marketplace. and so that’s a different sort of structure. So it’s kind of fun that, you know, Joe is doing his own thing in his markets because Joe and I live about 45 minutes apart and then we also have this kind of arrangement together and really if you’re, if you know, you have to be able to bring value to the table and if you’re an experienced rehab or investor or a landlord, you have to be able to bring value to the table.

Josh Cantwell:   And what Joe and I do for each other is we’re allowing each other to kind of do what we’re already good at. I’m good at raising money and buying those more expensive properties and I want to do big flips. Joe is really liking to talk with motivated sellers are really good in front of a seller, and building rapport and finding deals and then selling those to me o selling those to another super buyer. So, Joe, why don’t you just comment on that for a minute. Kind of that arrangement. And then also just how does it feel for you on a day to day basis, kind of be doing what you really like. Focused on working with sellers on the phone and kind of that versus, you know, we all had a previous job that we maybe didn’t really like that much. Right. So how does that feel for you?

Joe Nemeth:       No. Yeah man. I mean, you know, yeah, I mean like I didn’t, didn’t mind my previous job but I mean, you know, it wasn’t something that I wanted to do, you know, I mean I’d be there for, you know, for like eight hours and I’d be thinking about real estate, you know what I mean? I’d be like, man, you know, I could be out, you know, looking at houses right now, you know, making, you know what I’m saying, make, make more money doing deals and all that stuff. But I’m here for eight hours, you know, it, you know. So, I mean that was something that would beat me up every single day. Man, you know, and it’s, you know, and that sucks, you know what I mean, but you know, so that’s why like when, you know, like when you got together, you know and stuff and you made me that offer, you know, to come join you and stuff.

Joe Nemeth:       I said, man, this is. I mean, you know, I mean that was, you know, I mean that was like a no brainer for me, you know what I mean? I mean you were giving me the chance to do what I wanted to do full time. I said, man, I have to have to jump on this, you know, so that’s what I did. You know what I mean? Because I, because I honestly, I mean I was a little nervous, you know what I mean? Leaving the job leaving the job, you know, I mean getting guaranteed money every day or in two weeks, you know what I mean? And this is like, oh, you know, and then the money stopped coming in and I was like, crap, you know, I got to jump on the ball with this stuff, you know, but this is what I love to do, man, you know, I love, you know what I mean?

Joe Nemeth:       And just going out there and start looking at houses every day. You know making, offers on properties, you know, even though, you know, I mean sometimes you know, like, like you have to like, you know, make a really low offer just to get something accepted. But that’s you know. But that’s just the part of the business, you know. And that’s something that, you know, people need to realize when they start this business, you know, it’s like, it’s like you have to get things cheap because you can’t move properties man. You can’t move properties that are retail right now. You know what I’m saying? Not to investors anyways. That’s for damn sure. Know what I mean? You got to be out there, you know and stuff. And you know, I mean, you can’t be afraid to make those low offers, you know, and stuff and offer on any, anything that crosses your desk, you know, because you don’t know what the seller is thinking, you know what I mean? You can’t, you know what I mean? So that’s something that you know that I’ve had to learn over the years. You know, it’s like you can’t think for the seller, right? You can hear what they say. But I mean, once you run the numbers, you need to, you know, I mean, that’s what you need to stick by. Stick by the numbers or else you’ll be stuck with a property that you can’t sell and that, you know, that’s not a fun feeling. So…

Josh Cantwell:   I tell students if you’re not embarrassed by your offer, you paid too much.

Joe Nemeth:       No, you’re right. You’re right. You know what I mean? Because it sucks. It sucks to like when you want to go low, but you really don’t because you want to get the deal. Then you make them that first offer. This happened to me one time, right? I made Mason lady and offer, you know, and stuff. She kind of laughed and she’s like, she’s like, she’s like, oh wow, really? Okay. And I was like, oh, I offered too much. You know what I mean? And that sucks to you know.

Josh Cantwell:   So, Joe well just more, one more question and we’ll wrap up here, but is there anything special that you do to stay in touch with, so you’re sort of the top of mind reference, the top of mind for your super buyers, people like me and your other buyers. What are things that you do to stay in touch with them? But it’s just, is it as simple as texting, email, you know, what are you doing to kind of always be in front of them? Go for a relationship with them. So, they’re always looking to you for inventory.

Joe Nemeth:       Oh yeah. Honestly, honestly, I mean I don’t even let me see. Like I don’t, you know, send emails anymore. Right. I mean basically, you know, just texting, you know what I mean? Because they get that, you know, like that, you know what I mean? You know, I mean I’ve actually gone, let me see like maybe going out to lunch with them sometimes, you know, whatever stuff, just to kind of keep it fresh, you know, whatever stuff and just kind of let them know say they look, you know, like I’m going to be bringing you guys some, you know, some really good deals here. You know what I mean? So, I need you to act fast when I do bring them. You know what I mean, but they know the deals that I’ve been to the table. I’ve actually, you know, had had some of the buyers in the past, you know, asked me like, hey, you know, what, you know, like walk through a property with me.

Joe Nemeth:       And their first thought is like, hey, you know what’s wrong with the property? I’m like, nothing’s wrong with it. Why are you asking me that? Like, well you know, because you’re selling it so cheap, you know what I’m saying? Hey man, this is what I do. I find really good deals. You know what I mean? And that’s one, that’s one thing that I think has really helped me over the years, you know, it was just, you know, just to be able to just keep finding those deals, you know. To make the investors go, holy crap, it’s a smoking deal. Right. That’s what I told you from the get go. I said, I said, hey man, my goal is to bring you that deal that makes your jaw drop and go, holy crap. How did you get that deal? You know what I mean? That’s my goal. That’s my goal. You know? And that’s just what I think about, you know, every, every day, every day. Because that’s how you have to think about this business, you know, because you’re, you know, what I’m saying is you’re looking for that next deal. And so that’s awesome.

Josh Cantwell:   Last question, how does it feel to be unemployed? And how does it feel to like be living your dream man. How does it really feel? You’re recently married. You are kind of, your whole life is different this year than it was two years ago.

Joe Nemeth:       Oh yeah, man, I, you know what? I don’t know. It took me two or three weeks to kind of, you know, to adjust to it know, I mean because I don’t know, it just, it felt really weird the first two or three weeks, you know what I mean. Because all my friends are going back to work and I was just, you know, I’m just like, okay, you know, so what am I doing? You know what I mean? But I had to, you know, had to get, like into, you know, the perfect routine, I thought, you know what I mean. Because I didn’t want to just be at home, you know, sitting on the couch not doing anything, you know. I mean because that was, you know what I mean. I’d have to go back to work, you know. So, I said, hey man, I need to find the perfect routine for myself, you know, that keeps me going every day.

Joe Nemeth:       You know what I mean? I’ve had, you know, I don’t know, probably three or four routines, man that I’ve had, you know, kind of work around, you know and stuff. And the current one I’m at right now is actually, you know, is actually I, get up around, I get up around by 3:45 in the morning and I’m at the, you know, at the gym at 5:00, you know what I mean? Usually I’ll leave the gym at 6:00 and stuff. Go home really quick and eat, take my son to school and then I start the day off, you know what I mean? Which might, you know, might be going onto Podio or something like that, you know what I mean? Maybe Freedom Software looking at houses or something. But the key, the key when you’re doing this business full time is just, you know, just stay active, you know what I mean, because it’s what I mean because it’s really easy to sit on the couch and then, you know, lose two hours of time.

Joe Nemeth:       You know what I mean? I try not to come home at all during the day, you know what I mean? I want to want to stay out, you know what I mean? To stay standing still, stay active, look at houses, you know what I mean? But, you know, I mean, yeah, I mean I’m actually, you know, having, you know, I mean I’m having fun with this, you know, I mean some days might be a little stressful, you know what I mean? But I mean it’s, this is what I’ve been wanting to do for so long, you know, so I’m very, very grateful. You know what I mean? I get it to pick up my son from school, you know, every single day, which is great. You know what I mean? So, you know, I never had that option before in the past. So that’s good.

Josh Cantwell:   He was walking along distance from school in the past too. So, you picking them up and having something.

Joe Nemeth:       Yeah. It’s great.

Josh Cantwell:   That’s awesome man. Well listen Joe, thanks for joining us today. Let’s go find another deal. Let’s go make some more money together. Huh?

Joe Nemeth:       Heck yeah man, I’m actually going, hey, I’m actually going to look at a house in Avon Lake at 2:00 today, by the way, that’s a Podio lead.

Josh Cantwell:   Yeah. That’s a great market. It’s a hot market, big expensive houses out there, so look forward to that. So, listen, if this is one of the first interviews that you’ve caught with me, welcome, welcome. So happy that you’re able to join us, Joe, great job, my friend. Appreciate your input today and somewhere on this page there’s a spot where you can leave a comment or a question or review. Go ahead and leave that right on this page, wherever it’s at. We appreciate your feedback. We’ll answer your questions and look forward to catching you on our next expert interview. We’ll talk to you soon. Take care.

Joe Nemeth:       Thanks Josh.

New Speaker:     You were just listening to Strategic Real Estate Coach Radio hosted by Josh Cantwell and Kyle Garifo. Leave a comment on our iTunes channel and let us know what you want to learn next, who you would like us to interview, or if you just want to share some of your success stories in real estate and maybe we’ll talk about it on our next show.

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What Are You Thinking?

Where have you had success finding reliable hyper-buyers? Are you still in the process of making those connections? Let us know your questions and thoughts below.

Be Daring,
Josh

2 thoughts on “Wholesaling: Quick Deals for Cash

  1. Josh Hi an thanks for the Update info on wholesaling with your student Joe an yes he is killing it.
    an yes this does work just stay positive an keep Pushing to all who are Interested in Wholesaling.
    Lots of Golden Nuggets.

    Keep up the Good Work.

    The Latin Wholesaler

    Elia Santiago
    We Buy Homes Indianapolis
    Hoosierflippers LLC

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