How To Find Cash Buyers Instantly! [Wholesale Real Estate]

Pretty excited finding cash buyers. So, uh, if you're somebody that struggles with finding cash buyers, or somebody that can't even sell their deal, or has a problem with it, or if you want to make more per deal, dispositions is great. A lot of people overlook it. Most wholesalers, once they get a good deal, they immediately sell it to the first or second buyer that gives it to them. And a lot of people's secret of making more money in wholesaling, it's not about getting a lower offer, which does work. We, we love that for acquisitions. More marketing, more money, we get it. But another thing you can do is just get better buyers, and they'll pay you more. So, to double your assignment fee, a lot of people think you have to have double the amount of good buyers or double your lowball offers. If you just get 50% better buyers and 50% better lowballing, you can instantly double it. You don't have to just double your success.

So we're going to find about cash buyers, talking about that. There's a lot of strategies for it. As somebody that does a lot of JV dispo, I've been through the ringer, and I can tell you, I'm more confident with this than probably any other. Last year, it would have been acquisitions. It would have been cold calling. This, in the past 365 days, I became very good at because I get deals sent across the entire country to sell. And I, uh, I struggle with it, right? Like, I remember one of my first JV deals was in New Hampshire. I got sent it. I'm like, "Oh snap, New Hampshire." Like, that, that sucks. But I was like, you know what I'm going to do? Well, I'm going to get it. And, uh, that was an interesting deal, and I had to learn how to find cash buyers in a new, foreign market. My first virtual wholesaling deal, Knox, Tennessee, Greenville, South Carolina. We, at some point, you just, it's a, it's an easy process.

So, what is dispositions? Dispositions is a process of selling our real estate contracts, uh, basically our wholesaling deal, to a cash buyer. A cash buyer only wants to buy for two reasons. Why does somebody want to buy a house for cash? To make money. That's the point. And the top two ways people, cash buyers, make money is to rent the property out or to flip it. There's land bankers, there's people that buy cash to live. Those are exceptions to the rule. The amount of people that buy their own personal house for cash, it's, it's very low and not good for cash buyer purposes, right?

So, what's with dispositions process? It's a four-step plan. It's pretty simple. We go out here, we find cash buyers, we add them to our list. I know I'm simplifying it, but we're going to qualify them. That's part of adding them to my list. We're going to send the deal that we have in our contract to said cash buyer. Then we are going to walk that buyer through the property. Uh, we're going to get them to sign the assignment of contract. And then we are going to follow up with the seller and the buyer and the title company to make sure we're all still on the same page. You got to remember this: if you do not follow up with them, cash buyer, just like a seller, they're not going to like you. It's really important for everybody watching this to understand your cash buyer and your seller. You got to treat them the same. A lot of people treat their cash buyers like trash and their seller like gods. Like, "Oh my gosh, they're little princesses," and we, we treat them so well, and we think about them all the time and follow up. We don't care about the buyer. It's ridiculous. If you treat your cash buyer like a seller, actually caring about them, following up, even if you know you're not going to make money, it's relationships, guys.

So, what is a cash buyer? A cash buyer, again, is a person who's going to buy our deal or contract for cash, not hard money. They're not buying it on a loan. They don't need to get underwriting. They're buying it for cash. This is not hard money people. These are not people getting loans. These are cash buyers. We get an assignment fee on top of the deal. That's how we get paid. They buy the house usually to rent it out or to flip it for a profit. Example: if I get a property under contract for $100,000 and I sell the deal to the cash buyer for $120,000, you at the end, I'll get a $20,000 assignment fee. $120,000 cash buyer gives to the title company. We agreed with the seller to give them $100,000. So the seller gets $100K, and that $20,000 extra goes to me for an assignment fee. That's how we get paid in wholesaling. Get paid from the buyer. That's how it works.

Now, I found there are tiers to cash buyers. There's tiers to restaurants, there's tiers to fast food chains, and there's tiers to everything. The bottom tier, I call this Burger King. Hate Burger King. I, I went there six months ago. It was the worst thing ever. You love Whopper. It was so bad. The Burger King in Stuart is the worst Burger King I've ever had in my entire life. So, bottom tier, see Burger King. These are slum lords. What do I mean by that? I'm not exaggerating. There, there are people in your market. If you're in a bigger market, talking Dallas, Houston, heck, I know Pensacola. Um, they're like slum lords. They buy 50-plus houses a year, and they are really good investors, and they want really good deals. Now, there is a point where they're really good investors, and they'll overpay. Two years ago, this was like hedge funds, but they really didn't care. This is probably my acquisitions manager. "Oh, we got another deal. Oh, whatever." All right. So, we got slum lords, right? And next year, we got high-level flippers, 20-plus deals a year. These are people that they flip a lot of houses. These are, you know, the Rogers, the Caves, you know, people that used to flip houses, and they kind of know what they're doing, but, you know, they, they, they want to do some, they know what they're doing, right? If they buy about 20 houses a year, they're going to pay more than the slum lord, but they're, they're pretty savvy, and they know there's a lot of wholesalers, and that's where they'll treat you. It's kind of like a seller that has 10 wholesalers talking to them. They don't really care. They're just going to shop around. They're not the best.

Now, this is where we're getting some good cash buyers. These ones that are flipping one house a month, one house every other month, they'll buy it, two months, put it back on the market. They're kind of decent, but they still pay a good amount. My favorite ones are who we call the Mom and Pop flippers. These are people that buy one, two, three, four deals a year. They're great. This is a side hustle to them, and they're willing, they like it. They, they think of this as investing. If they can make 30, 40% of their money, that's so cool, and they'll do all the work themselves. So they squeeze all the profit, and they're willing to overpay because they do the work themselves. At medium and high level, they have contractors, handyman, workers. Not the best.

And then my favorite, I call these the fresh out the seminar flippers. I was talking to John. John knows exactly who I'm talking about. I'm not mentioning that place, but they throw you in a hotel room, they get you excited, they tell you to pour $200,000 into a house you find with a realtor on the MLS, and you're going to flip the house for a profit like a TV show. I'll tell you, it's not like the TV show. We're going to attest this. We've been offered two TV networks to do house flipping shows. It's not what it's cut out to be. And, uh, we have denied them both. We can't say too much about it, but I can tell you, you do not want to be like these TV show people. Do not make a profit, and you don't show the real HUDs. But fresh out the seminar flippers are the best. I have literally talked to people fresh out of a seminar. They went to a seminar, they found me on Facebook or whatever, and they got so excited to buy some more deals. And I will screw them on a deal, not screw them, they'll make money, but like, if a regular flipper can make $40 grand on it, they'll make $15, and they'll be so happy because they made a profit, and it's great, and they got to, they got to design the interior and make it all look good, right?

So, how do you find cash buyers? Remember with the tiers of cash buyers, the, what I'll say with these tiers is right here, these two, they, they look at house flipping as a craft. "Oh, I'm going to make it look good." It makes me feel fulfilled. That makes me like, they'll do the granite countertops, they'll put the fireplace, they'll do it. These people, medium, high level, slum lords, they care about the money. They're here to make a profit. These people, they want to make a profit, they want to feel good about it too. If you're talking to any of these buyers, that's how you kind of know.

But how do you find them? Number one, Zillow for rents. Like I've said, your cash buyers are looking to buy a deal to rent it out, or they're literally out here to go flip it for a profit. As personally, I found this myself. When I started to buy rental properties, I did not want to go pay a realtor to go find someone, and I started buying a lot of like lower-level rentals. These are these manufactured homes, really cheap type of real estate, and I just didn't want to deal with the realtor. I just listed the property for rent on Zillow, and I found plenty. And I found a lot of landlords do this. They don't deal with a realtor and they just list it for rent by themselves. So Zillow for rents are great. You can call these people up and just ask them if they're looking to buy any more rentals. Easy as that.

Number two, Facebook groups. I'll show you on here how to do it. I was kind of talking to Rebecca, talking to Tony about this. Facebook groups are amazing. A lot of people, if you're under a rock, you don't have a Facebook, you should probably get one. But what I can tell you is Facebook groups are amazing. Uh, who here has a grandma or had a grandma? If anyone's younger, if anyone's younger here that has a grandma, you probably know your grandma's probably on Facebook, right? She likes all your pictures or your mom's pictures, right? This is not 2010 anymore. Every single person that's considered older, over to the age of, you know, 70, 80, they all have Facebooks now. They all do. My grandma has Facebook. It's crazy. And so every single person usually over the age of 30 has a Facebook. It's insane. And so that means if you're talking to a cash buyer who's probably over the age of 40, 95% of them have a Facebook. And for the young people out here, they usually have a DM and they answer their DMs, and it's crazy. Even the people that are technological geniuses, they will answer their DMs, and they at least know that. And so you can always DM these people too, and go on Facebook groups on top of that.

You can call call cash sales. There is a list of people that buy houses for cash, and you can call them. Say, "Hey, did you buy this house for cash?" "Yes, I did." "Well, do you want to buy any more?" "Yes." "Well, I'm a wholesaler." Boom. Easy as that. Hey, to find a cash buyer is so much easier to find a motivated seller. You'll see how quick this presentation is considered the marketing part.

You go to auctions. We were talking about the round robin auctions, kind of similar. What we like to do there are local property auctions here in, uh, Port St. Lucie, Stuart, not Friday, but usually Saturdays. So my favorite, there's auctions, and the amount of people in this room, they're auctioning off a triplex, a duplex, a quadplex. Love them. And they usually like doing it because they get more than on the MLS for it. There would be, you know, 80, 90 people in a room, and they're all bidding on a huge. Last one we went to was like a 10-plex. We went there, there's 80 people looking to bid on the property. Guess what happens? They auction off, right? There's 100 people. 99 of those people at the auction lost out. They got all this cash, they're super excited, and they couldn't buy it. They're so sad, and they just want to buy property now. If you're smart with the auctions, what you can do is if there's 100 people at the auction, there's probably like 30 people that actually bid. If you're actually looking to bid on a $1, $2 million rental property, you're serious, and if you kind of pick out and see who's bidding, you can go reach them out, and they're all sad that they lost the auction. Go reach out to them, say, "Hey, sorry you didn't win that auction, but you're still looking to buy some more rentals, right?" "Yeah." Get their info. Pretty simple. Auctions are an amazing source for it. Heck, go to the tax auctions. They're not as good, uh, but a lot of them are online too. You can find the sales of the auctions.

Other good one: there's local real estate investing associations. You guys know, you go there, you're going to get pitched, uh, but there are good buyers that actually go there. Networking, a good one. I mean, it's networking, kind of overblown from a lot of people. Everyone loves to network and stuff, but if you can just contact people, realtors, title companies, things like that, you can find a lot of good cash buyers. But on top of that, too, hedge funds are another source of cash buyers. I'll tell you, most of them are not as good as they used to be. Uh, one I used to use that they were amazing, but they just, they're two years ago, they'd buy anything. Unfortunately, they won't do anymore because just the cost to borrow money is not as good as anymore, so they're a lot more tighter with it. Uh, there used to be some huge ones in Arkansas we used to use, but hedge funds are another source.

Real estate agents. Love real estate agents. I'll tell you right now, our top cash buyers have usually all come from real estate agents. And you got to remember this. I was talking to some of you guys about these real estate agents. If you are a mom and pop, think of, heck, think of your grandparents. Let's say your grandparents have a million dollars and they want to invest in real estate. What are they going to do? Are they going to go to Flip with Rick on YouTube and learn how to find the deal? No, they're not. Are they going to go watch a house flipping show? Yeah, they'll get excited about it, and that's what they're going to do. I know a lot of people that invest in real estate that don't know what wholesaling is. It's most of them, actually. It's the sad part. And so what they do is they call their friend Sheila, who is a real estate agent, and say, "Hey, I want to look to buy a piece of real estate." It's what 90% of these real estate investors are. It's shocking, but it's true. And those people will just hear whatever the real estate agent says, and they'll say, "Okay." So everyone locally here that invests in real estate property, they usually run another business. I know one guy, he's a real estate investor, he ran some like IV company. He just talks, whatever his realtor says is a good deal, he just does. And if I can contact the gatekeeper, the real real estate agent, and I say, "Hey, I'll give you double your commission if you go with me over than an MLS listing," real estate agents only care about one thing, that's money. And so they will be kind of corruptible in a sense. I'm not saying that in a mean way, but like, if they can make $5,000 on a rental property A, or they can make $12,000 with me on rental property B, and it's the same price at the end, they're more inclined to convince their client to go with us. And, you know, I know some real estate agents are going to be upset at me, but like, yeah, they have a fiduciary responsibility. I do get that. But if they're going to make the same, they're going to push the $1,000 commission over the $5,000 commission nine times out of 10. And I'll say this, there's real estate agents here that make money, but if you're a real estate agent that makes money, you understand most real estate agents are broke. And, uh, they're more inclined to push it when they need help. Uh, and they're also good deals. You do give better deals to real estate agents than if they go on the MLS, and if they can be an agent says, "Oh, I have a special private deal," it sounds better.

Now, of course, there's title companies. Our current title company we use here locally, they don't do an insane amount, maybe 30, 40 wholesale transactions a month, I'm guessing. Like, I don't know, like outside of us, like there's not a ton that they do outside. So I'd say about 30, 40 outside of us. And they're good, they know it, and they have buyers. And we've used title companies in a lot of good pinches, and they have the buyers. Remember, they go to us, so it's a good one.

So, cash buyers, I have two rules for them. It's quality over quantity. Has any of you guys gone on a Facebook group and heard someone say, "I have 400,000 cash buyers in my database all the time"? It's who cares. 400,000. It's quality over quantity. How many of those people you know on a first-name basis? The reason that I do my cash buyers is I call them up, send them the deal, and they buy it. That's it. Number two, cash buyers must be qualified. Avoid fake or bad buyers. I'm not saying anything bad, but there are real estate wholesaling programs that show you how to daisy chain, which if you don't know what daisy chaining is, it's basically, "Hey, I'm a buyer, bro. Send me over the deal." They'll write a contract and then JV. The JV, which inherently isn't a terrible thing, but if that person you don't know, or has never done a deal ever, or they don't know what they're talking about, they don't know if it's a good deal, they could hold you up and hold your EMD. So you want to make sure this person that is a cash buyer is actually legit. That is it. If you're a cash buyer and you had never bought a house before, you're not a good buyer. And I can tell you, ask somebody that buys houses for cash. If you came up to me and said, "Hey, Zach, give me the last three houses you bought for cash," I'll tell you where they are. I will give you the HUDs. I'll show you. I'm not scared. That's why I love real estate. You can't fake real estate. Did you buy it? And heck, you can put it in trust and things like that, but someone's signing the deed. Um, so I'll tell you, there are a lot of ways to find.

Facebook group, cash buyers. Number one, Facebook groups. Go to Facebook, go to real estate investing groups, and search cash buyers in the search tab. Uh, you can also make a post. I showed Rebecca really quick. I'll just post it on here. Um, I, I'll literally go here. I'll show Rebecca. We went to Memphis, Tennessee real estate investors. So she's looking to get Memphis. I literally just went to the search tab here, searched cash buyers, and there's posts like this, you know, looking for cash buyers in Memphis. And all I'm going to do is go to comments and I'm going to scroll down and I'm going to find people. So like, I don't know, you know, this David guy, he says he's a buyer, or he says he has it. And what I'm going to do is just go here and click message. I'm just going to message him like, you know, "Hey David, I saw you were looking to buy houses for cash in Memphis. Are you still actively a cash buyer? My name is Zach. I'm a wholesaler." And there's 12 comments here. It's not a big group, but if I scroll down here on like a regular group, there's probably like a hundred of those type of comments in a week or two. It's, it's if you ever been on my Facebook group, you say, "Where my buyers at? Where my cash buyers at?" It's, it's all the time. And I don't allow in our group because it just spams, and we have 118,000 people in it, so it just goes crazy. But you can go in there and DM these people, and if you send like a hundred messages a day, you're bound to find good buyers. And Facebook is, they're all there. And so I'd say about 15, 20% of people that claim to be buyers on Facebook are actually legit buyers. So I love doing it.

You can also make posts in Flipping.com. We have templates, but like something stupid like, "Cash buyers in Houston Market, drop your email." I know it sounds stupid, but like making it simple, those get like 40 or 50 comments, and they'll all DM you. Uh, you can also cold call real estate agents again. I know I clown real estate agents sometimes, but they have really good buyers, and I like making money. Cold calling buyer agents is amazing. So if you go to the cash sales, you can use like PropStream, List.com. Heck, what I like to do too, like we're talking about Rebecca and Memphis. If Rebecca locks up a deal that it's in like a really rough part of town, I'll go to that rough part of town. I'll go to the solds, I'll look at the pictures of the ugliest possible houses, and I'll look for the buyer agent and just call them up. Usually, if you're a buyer agent only dealing with like hood properties, you have a ton. Like, you're, you're, you're the person that does those distressed type of houses, Section 8, things like that. You have a lot on your rolodex, and you can help these people out. And these realtors, unfortunately, if these are $42, $45,000 purchase prices, they're not making a ton on the deal. Like, I mean, 3%, it's like, "Oh, that's awful." And so if you can offer them four or five grand, that's like 10% commission, and if you make 10 or 15, that's great, and they'd love working with you too. Uh, but that's pretty much. I mean, if you ask if they have any cash buyers, the realtor explain that you're a wholesaler, and that's how you work, and you want to get them paid, you're good to go. Just talking to a realtor and say, "Hey, do you have any buyers?" Like, they think you're stealing their buyers list. They don't like it. Just let them know that you want to get them paid on the transaction too, and you're good to go. Uh, if you talk to a realtor and you say, "Hey, I'll give you a commission," they're, they get all defensive because you can't do that. Marketing fee, things like that. You can also work it in the assignment, whatever they're comfortable with, whatever their broker is okay with. But real estate agents are great.

Now, some more cash buyer marketing. Call the cash buyer up once you get them on a list. Call them up and give them pictures of the house when you have the deal under contract and ask them if that price works. Now, it's very, very important that we understand if you text them, if you email them, that is not a good way to sell anything, okay? You got to actually call them up and actually build some rapport. You don't try to close a seller over text or over email, but you guys will try to close a cash buyer over text and email. It's ridiculous. Call them up. That's the, I mean, in person would be the best, but actually call them up, actually show some effort with it. You actually do well. Remember, calling them up is the best way to currently get the deal sold and the best chance of getting the deal sold. We're in an era right now where it's easier than ever to get a wholesaling deal, but it's harder than ever to dispo the deal, especially with interest rates and stuff. So you actually want to call them up. If there's 10 wholesalers with one cash buyer, be the person that calls them.

Then they walk through the property, right? If they're good on the price, then they can walk through and they can see the house. Make sure it's good. Set up the time with the seller. You and the cash buyer. Make sure you're about five minutes before the cash buyer shows up. You'll be good to go. Present to the seller that you and your partner are going to walk through the property. That's it. Now, also present to the cash buyer that there's no talking to the seller. We're not doing this. You walk through the house, I talk to the seller. They can walk through it, make it a decision if they're ready to buy or not. It's very important again, I'm going to repeat this, that they're good on the price. If they're, I don't, I'll just look at it. You, you only a certain amount of walkthroughs with the buyers, so you need to be very careful with here.

Now, once they're good on the price, you meet at a secondary location. Don't sign an assignment of contract in front of a seller. It's never a good idea. So I usually go to a title company, Starbucks, McDonald's, no Burger King. And yeah, no. And we get the assignment of contract signed. I do it in person. And remember, my assignment of contracts, they're pretty cutthroat. You have to do an EMD, non-refundable. I'm pretty aggressive with it, but I make sure once they're in, they're good.

Now, once they sign the assignment contract, we're in this dead time. Some wholesalers lose out deals because they don't follow up. Call the cash buyer once a week. I know that seems excessive, but make sure, "Hey, just call in, make sure you're okay with the deal, make sure everything's good. How are you?" Really quick, five seconds. You also do the same with the seller. You follow up with them. If you don't follow up with them, they're, you're going to think, "Oh, what's going on?" "I just thought you were out." Some sellers think, "Oh, I thought you were out of the deal. I just, you didn't call me for a month." Call them at least once a week and check in. A lot of people, "What do I say?" "It's been a week. Hey, John, how you going? How's the move going?" "Oh, it's going great." "Well, if you got any questions, please let me know." That's it. Simple as that. As long as they know you're still committed, you're still good to go, you're fine.

Also, call the title company once a week and from the title is clear and there's no issues. Cannot tell you how many times I get these title companies. I remember one deal I did where we're set to make a huge amount of money on this deal, and title never even called us, and we had to call them. Follow-up said, "Well, there's a slight issue. This guy has a $400,000 child support payment he was, uh, behind on in the state of Texas, and it a court just ordered that in Florida. They put the lien on the house, and there's nothing we can." We lost out. We lost on the deal. And so title can really ruin a deal if you don't know how to do it right.

So, this is probably the most important part with the cash buyer. There are fake buyers and there's real buyers. I know so many 18, 19-year-olds that say they're cash buyers. I can tell you statistically, there's not a ton. And so every single person that claims to be a cash buyer, you run them through these questions. If they can't answer them, they're not a legit buyer.

Number one: Are you looking to buy any more houses for flipping or renting? That should be an easy yes, right?

Number two: Have you ever bought a deal from a wholesaler before? You not want to be someone's first time when it comes to a wholesale deal. It, there's a lot of explaining, it's a lot of stress. It's like, wait a minute. I'm so, make sure they have some experience buying from wholesalers before. They at least understand the process. I've helped dealt with cash buyers that's their first time doing it, and if they don't understand the assignment stuff, they get pretty confused.

Now, number two: Are you okay with us making an assignment fee? I mean, repeat myself. Are you okay with me making a massive assignment fee? As somebody that likes making big wholesaling deals, some cash buyers are get, they get really uncomfortable. You're making $50 or $60,000 on a deal. Has everyone, has anyone here had a problem with a cash buyer with your assignment fee being too large? Some people, right? Nater, what, what story with you? What happened to your buyer? Yep, yep. Did, did the deal change? Did the property change? Nothing at all. It's just you making money. Oh, terrible, right? So that, that's the problem. It's how human psychology works. Oh, if you're making, if you went to a grocery store and you bought something for $10, let's say a case of Coke for $10, and you, "Oh, it's $10. I'll buy it." It's like a good deal. 50 cents a can, 20 cans, $10. You're okay with it. But if you got rung up and you found out that Walmart bought that for a dollar and they're making nine bucks off of you, you inherently feel like you're getting ripped off. Did the value of the Coke change? No. You're, you're, you're kind of upset that they're making money. Just, it's not good. Make sure that they're okay with you making an assignment fee. Don't feel like it's a, it's a secret. Even if you double close, they're going to find out, and you want your cash buyers to buy more than one. Make sure they're okay with you making an assignment fee.

Proof of funds. Another important one. Make sure they have a proof of funds. If they don't have the cash in their bank account, probably not a good deal. Top of this too, get the addresses of the past five cash purchases. Now, I used to never say about this, just get the proof of funds, but there are so many people out here that are faking proof of funds. I've had cash buyers literally Photoshop out of Chase extra cash they had in their bank account, and it ended up getting stolen. H, not stolen, but like our deal got stolen, and we don't like that. So what we do now with our buyers is I kind of put him in a trap. Remember, I told him, you know, have, "Are you looking to buy any more houses?" "Yeah." "You know, I bought like four houses this year in Port St. Lucie." "Okay, well, can you give me the addresses of like two of them?" That's when, uh, the fake buyers start freaking out. "That's private information." "Why is it private? I can just look you up. Just give me the addresses." "Oh, they're under a trust." "You want to understand? Okay, well, did you buy under a trust with your name? Do you have any partners?" "No, no, it's just me on the trust." "Okay, perfect. Well, when I show me the address, and I'll look up the deed, and you should have signed it yourself." You, you a lot of people, they get freaked out. You're not having a registered agent in Wyoming sign a notarized deed on your property on your trust, right? You're going to do it yourself to make sure you're safe. Uh, so that's usually a good way to get rid of fake buyers.

Now, when a cold call in Zillow for rents, I have a pretty simple script. Something with my cold calling. "Hey, is this the owner of 123 Main Street?" "Yes." "Are you looking to rent out my property?" "No." "This is Zach. I'm actually not looking to rent out your property. I'm actually a wholesaler, and I'm seeing if you are looking to buy any more rental properties for cash. Would you be looking to buy any more rentals?" And I provide properties to cash buyers. And if they are, then yes, great. Then proceed to let them know that your partner will be reaching out to them later today and ask, "What is the best number for us to reach back out to to see if you're a good fit for us?" Then put them in the CRM. It's simple. It's not that complicated. A lot of people get really nervous over this, and it's not. It's way easier than a seller.

Now, if you're cold calling the cash sales, pretty simple. Go to PropStream, Zack Batch. Then you can do this. But say, "Hey, is this the owner of 123 Main Street?" "Yes, this is Sam." "Okay, well, hey, I just saw you purchased that property for cash, and we were wondering if you were looking to buy any more flips or rentals for cash in the area. My name is Zach. I actually have a wholesaling company, and we have multiple deals under contract." Usually, "Would like to sell." That's it. Simple as that. If they have bought houses for cash, usually they're looking to buy even more. And I like the cash sales. They're usually pretty legit. Then yes, proceed to let them know that your partner will be reaching out to them later today and ask them for their best number. I like to be in the flow of cold calling. If I'm cold calling a bunch of cash buyers, I like to get the yes, put them in the CRM, and then I'll qualify them later and go from there.

Now, there's not many objections you're going to get. I've done a lot of live cold calling. You can check on the videos we do, but it's usually, "Who is this?" "What do you want?" "My name is Zach. I'm actually a wholesaler. Are you looking to buy any more properties?" And if they ask me, "What's a wholesaler?" Usually not going to be a good deal. So, uh, the next one is like, "What's a wholesale company? What's a wholesaler?" I'll explain it to a realtor for cash buyer. Actually start getting a little, I, I get a little short with him because like, if you don't know wholesaling, it's probably not going to be the best thing to educate you on this. And so what I do is I put properties under contract and I look to sell them for an assignment fee. It's what I do. If they're like, "Oh, I don't know about that." "Well, look it up. Something you want to do. Call your title company." I've actually had cash buyers that are like, "Oh, I don't know what wholesaling is." "Well, just ask your title company." And they explain it, and they're like, "Oh, okay. That works out too."

So, how do you get really good at cold calling these sellers? How do you get really good at cold calling these cash buyers? Be direct. Rick's less direct than me. Um, it's no secret, but he's more empathetic. He gets a lot more rapport, but I'm very direct. And with cash buyers, you got to get to the point with them. A lot of them are business people. Sellers are not business people. This is why it's a little different calling them than calling a regular seller. Stick to the script. Once you go off the script, it can get a little weird. Don't do that. And then get off the phone with the nos as quick as possible, and don't waste your time. It's really, really important for you to get off the phone when somebody says no for a seller. When somebody says no, if they don't looking to buy any more properties for cash, we are not here to waste our time. We already work too hard in wholesaling. So if someone says no, don't try to convince them to be a cash buyer, and then just focus on the yeses from there.

You can vet your cash buyers pretty good. Remember, there are five critical, important factors when underwriting cash buyers. Number one: Intel. Meet and greet them. Collect the data. See where they're looking to buy. Number two: Their means. Do they have the money? Yes. If they do, sure. If they've bought houses, they're good. How quickly can they close? Are they okay with my assignment of contract? The worst thing you could possibly do is walk them through, then being okay, and then looking at your assignment of contract being like, "Oh, I don't know about this." Make sure they actually look it over. Actually qualify them before and vet them. Number four: Make sure they have authority. Some people are just like, you know, the acquisitions department for the company, like hedge funds and stuff, and they actually don't have the authority to say yes or no to buying a deal. Make sure the authority figure. Same thing with sellers. And niche. Understand what they're looking to do. We talk to a motivated seller, and we like to understand about their MCTP, their family, their occupation, what they like to do for fun, but we don't really care about a cash buyer. We don't care about their family, we don't care about anything. We just care about them buying it because they're just a number, right? Actually understand what they're looking to do. If they're looking to fix and flip, why am I going to send them a really nice deal that can just be turnkey ready to rent out? You got to understand what they want. Understand how many properties they're looking to buy and where they're looking to buy.

Do not want to send a bad deal to a cash buyer. Let me say this one more time: Do not want to be the boy that cried wolf. If you're the guy that has a good buyer and you send him five really, really crappy deals, when you send him the sixth deal that's really nice, they're going to think, "Oh, that's just Zach who sends crappy deals. I'm not even going to look at this one." And I've fallen victim to this too with my JV deals. I'll get sent JV deals, 10 of them, really, really bad. And then another guy just says, "Hey, I got a JV deal." I'm like, "Fine, give it to me. Let me look at it." And that one, this was one in Port St. Lucie, this my 11th DM on a JV deal, and I was like, "Eh, I didn't want to look at it." And I just sent it to you to look at, and you said, "Oh, that's actually a good deal." I'm like, "Whatever." And we ended up making $70 grand on that deal. And, uh, it, this dude in Arizona that just like this kid, and I was like, "Wow, okay." And so I'm telling you, you got to look at them, and you got to get in the niches here.

So, how wholesalers work, title companies. This title company, okay, I'm going to go through this a little bit quick because I want to get back to the roleplay. So I'm going to give you a 20-year crash course in working with title companies. This stuff you're not going to get from a lot of people. Title companies are going to watch this, and they're going to get pissed, but it is what it is. So let's get into it.

Size of the title company matters. The smaller the company, the more service you're going to get, the easier it is. Okay, I get very intimate with these title companies. If you use these, there are some national chain title companies. I'm not a big fan of them. They're corporate-run, and they go through employees like water. You need the exact same employee the entire time. If you trade hands or you have a different handler, I call it, in a title company, it's going to change your business. They, this is a very individual business, and you have to understand it. The size of the title company is huge. Small, independent, local title companies, it's what works best. Stick to it. I've tried the national ones. You think, "Oh, I can do all 50 states." It's not that easy, okay? Most of you guys are picking out a particular market. Your title company needs to be in the state that you operate in, and make sure they're comfortable in the counties you do. So, more importantly, it's what your sellers want. They want to know you're legitimate. They don't want some company they're going to mail to Arizona and mail back to you. It freaks them out, okay? So if I do a deal in Arizona, I'm going to find a local title company. We teach you the tactics on how to do that, okay?

This is a big one for me. When I call a title company, I'm vetting. When you guys are calling, just like I teach you, if the girl's nasty or the guy's nasty to you on the phone, move on because they're going to screw your deals up, okay? They have some employees that they don't have a good culture. You don't control them. It's a nightmare, okay? If they're nasty to you, or "Please hold, please hold," you called three times, and you're on hold every time, that's what's going to happen with your sellers, and you're going to freak them out. We're not even talking about us yet, okay?

Investor focus. What do I mean by investor focus? They're familiar with assignment agreements. They understand how you operate. Now, don't fall in the trap where a guy goes, "I've had these," and you'll find ways of these, "Hey, us investors are getting together. We're going to open up a title company." I don't understand title. There's a lot of legalities. There's a lot of liability with it. We are wholesalers. Don't let anyone try to get you into a title company. I've been approached probably five or six times. They go, "We can drive all this business, we all this money." Guys, you can't just do stuff to make money, okay? I understand title. I don't know how to run it as a business, okay? You have a tremendous amount of liability when you do any type of title. So if you go, "Hey, we just do investor contracts," make sure it's a good move for you, okay?

Uh, I also find out how many other investors you have. Don't be scared to ask. If you're the investor, it might be good, it might be bad, it depends, okay? I want to know how many they have and what percentage of their business. If they can't share it to you, listen, I'm running a business. I need to know about your business. If they go, "That's confidential," I'm like, "Move on, right?" Okay, you got to ask some hard questions. And guys, you're not selling anything here. You're just ripping through a list, okay?

You're familiar with assignment of contracts. Listen, ask and listen to their first response. "Hey, are you familiar with assignment contracts?" Put your hand over the phone, and if you get a lot of ums, then you've got a problem, okay? Contrary to belief, a lot of title companies do not like to do assignment of contracts. Why? It's scary. It's not the norm. 95% of transactions run through realtors, okay? So we do the 5%, probably closer to 10, but the reality is, just because you don't understand it, it's not my problem, okay? You got to find a company that understands what you do and how you operate. The last thing you want to do is teach your title company how to do an assignment of contract. You're, you're, you're a dead man walking. You can't do it. We're going to go over that. I'm going to give you, you already know the answer, right? Give them the answer. It will ruin probably 90% of your deals when you do it. There's a reason they're asking you to do it, okay? Some of them have good intentions, but for the most part, you're going to bring it to a title company that has no idea what you do, and it scares them.

Title companies, we have the same problem with title companies that you have with these government agencies. You have public data, and then you have what they call policies, privacy policies. The owner of the company goes, "Listen, we don't like assignment contracts. We're hearing a lot of negative stuff in the press. I don't want to do them anymore." "I don't know. I have this guy, he does like four or five every month." "What do I tell him?" "I go, just drag him along. We're not going to do it." And they don't tell you the truth. You got to understand. I've had companies, sometimes title companies, because they're owned by attorneys, they'll start interpreting the rules, and you're not in control. The problem is, they screw your deal up. Your seller's there. If you switch title companies midstream doing a deal, you will freak your seller out. They're like,

What's wrong? What's going on? It's very hard to change title companies. So if you go, "Hey, I'll go with your company, they didn't work out. Let me bring it to my company," it becomes a real problem. Okay, double closings. Ask you, "Do you do double closings?" You don't even know how to do it. I just want you to experiment here. Do you guys write title exceptions? Why do I ask this? Because as you get more advanced, you want them to be able to do this. A lot of times we contract code violation stuff that can't be cured right away, especially federal liens and stuff like that. We want to move the property. Our job is to move it. Okay, so I teach you how to move your sellers along the sales line. Same thing with the title company. If I have a code for, say, $1,000 on the property, I'm getting a $50,000 assignment. Do not let the thousand stop you. There's a couple ways around it. They can write a title exception and your new cash buyer can just take it over and resolve the issue for you. It means they're going to accept that $1,000. And if it comes back, you have to have an agreement with the new buyer if you want to cover it or not. Sometimes I just pay it to facilitate the transaction. Don't let a tiny amount tie you up. You guys understand that when you have these liens and stuff, it's not the end of the world. Okay, worst-case scenario, leave a lien in that contract and see if it goes your way. But I see so many people tie up an entire deal over a $1,000 lien. It's ridiculous. Okay, ask them, "Do you guys do probates?" Okay. And then when you get deeper into it, I'll ask them, "Are you okay closing, um, are you okay closing on a probate before the completion?" I want to really test their knowledge because contrary to belief, title companies know a lot. They do transaction after transaction, so they see the tendencies and they see what the norm is. And then when they have a question, they bring it to the attorney. Okay, it's not the other way around. And they'll say, "Listen, can I close it?" And this is how I, I got so good at probates. And nine out of 10 title companies go, "No, you can't do it. I got to get clearance on it." Like, "No." He goes, "Hey, here's what you need to do. You need to get the seller's attorney to file for a summary judgment and you need to get the judge to sign off to liquidate your transaction." Like, "Okay, can you tell me how to do it and do it?" And then what I do is have the title company call that attorney. And that's what I do. Okay, I just asked you, "Do you deal with probates? Are you aware with them?" "Yes."

Yeah, yeah, yeah. Okay, so you're going to ask him, "Can you close the, can you close prior to the probate being completed?" See what they say. Okay, that's what you want to find out. So, yes, no, no. Let me go through it. I promise I'll get to it. Okay, closing costs. If you don't ask, you ain't getting it. Okay, if you don't ask for like, you've gone, you guys have chased government lists, you do these crazy marketing stuffs, you go to people's doors, you cold call them, and you're going to tell me you get to this point, you ain't going to ask for another discount? This is the easiest part. I don't even, I go, "Listen, where's my discount? I close cash deals. I bring you customers. Do I get discounts for cash deals?" "You do." Okay, so what you want to do, a little trick. Title companies will test everyone. If you just do a couple closings, they will hammer you. I would do it too if I owned a title company. If you're going to pay me $2,000 doing closing and you think that's fine, I'm going to ask you for $2,000. Okay, what are the average costs for closing? It depends on what state you're in, and we can get real specific with it. I have mine dialed to the dollar. I know exactly what my fees are. Just ask for a list of their fees. If you do it in the beginning, you hold them accountable. If you don't, I've had closings from $7,000 to $299 for the exact same transaction. It is wild out there. Most title companies think most of us are really dumb about this. Okay, realtors are more depth because they deal with a lot of clients and stuff like that. But wholesalers, a lot of you guys, I gave away so much money. My first three years, I add to my account and go, "He goes, you're getting killed." Like, "Oh, how am I getting killed?" He goes, "Why don't you get a discount?" If you do a double closing, do you think you deserve a discount on the other side of it? Absolutely. I can, I can go four hours on double closings. I'm not going to do it because it's a more advanced strategy. But you shouldn't be paying the second set of closing costs. The double closing, if you do it right, you're just dealing with the funding because your new buyer is going to pay that closing cost. So you only pay it once. Everyone's like, "You got to pay it twice." You don't, if you do it correctly.

Why? Who, who comes up with these rules? See, this is the problem. We all just like sheep walking around like, "Okay, he said do it." Yeah. There is, there's a point. So you do a double closing as an insurance policy. But if you're making $10,000 or less, that's a very expensive policy. It's 35% of the deal. Think about it. If it cost you $3,000 in the closing and you were getting $10, you're only getting seven. If you do it like a double closing, that type of deal, that's where it becomes problematic. Now, if you have a very sketchy seller or buyer and you got into this hole, sometimes double closings will bail you out. But honestly, if you talk to people on both sides of the transaction and you do exactly what you said, you should be able to snuff out those problems. But every now and then you get a wildcard thrown at you, and this is where you bring in your title companies to help you out as much as you can. Your title company, I don't care what you say, they are basically part of your team. And if you don't get real intimate with them, we deal with problems. A lot of them. Okay, so ask for a list of all their costs and negotiate it. And when you do more, you should be getting better and better deals at it.

Yeah, on both sides or just one side? Yeah, pretty much everything's negotiable in this business. That's the beauty of it. Whatever you want to negotiate. If I got a bad deal, I don't pay for closing costs. Sorry. But if you're doing assignment contracts, you don't have to worry. Guys, double closing is very simple. It's exactly what it says, just two sets of closings. They happen maybe a minute or an hour apart. That's it. It's just two distinct, separate transactions. Yeah, we're so we're not going to go down that rabbit hole because it's just, here's the deal, the more transparent you are, people, he, is he? Listen, I'm buying your property. I'm going to make a profit. They know you're going to make a profit. How much? Most people don't know. And honestly, you don't even know. That's the reality. So stop like getting so worried if you're going to make $10 or $15,000. Do an assignment of contract. If you have some risk or somebody throws a curveball with you, go to your title company and talk to them about a double closing. I have in my experience, I've gone to do an assignment of contract, had a realtor show up going, "He's making $25,000 off you. This is like crazy." That's crazy. I go back to the title company, I go, "Bail me out. I screwed up." They go, "No, no, no, that's right. Actually, Mr. Gin, I believe he's going ahead and going ahead and fund it and buy it." And then I'm across the hall chasing somebody down for money. This is when I was a lot younger and I made mistakes, and my title company bailed me out. They go, "Yeah, we screwed up. He's actually paying for it. There's no problem." Shut the realtor up. Cost me $5,000 to borrow $150,000 for five minutes, but I solved the problem because I was making a huge fee. And you will get in those situations. If you have a title company, they won't run you under the bus. They're like, they go, "Dude, your buyer's freaking out. Do you want to save the deal or what do you want to do?" All my title companies know within $1,000, "Just get it done. We'll figure it out." Okay, I'm, I'm getting to you. Hold on. So here's the key. You got to have a contact person. It's typically the owner of the title company. And if you ain't got their cell phone number, you don't have the right person on your team. Always have one handler. It doesn't have to be the owner of the company. Just have one person that understands your business and their job is to get you. You know, it, our title companies will go anywhere for us. They'll do any mobile closing. Here's a little hint, guys. If you have to do mobile notaries, have the title company do it. You have to have neutrality in it. You can get questioned on who, who called the notary company? Who did that? Always let your title company handle it because it keeps you out of it. There's never, you never get dragged into it. The liability goes on them. Always put the liability on the third party when they do that. You got to have their cell phone number, obviously their email. And I don't care, I call anytime. If I call them at 10 o'clock at night, answer. I tell them. And when they tell me, "I don't want to answer my phone," I find another title company. Okay, go ahead.

So you guys overthink EMD. Like, you really do. Like, we want to close deals. EMD is just, I gotta be honest, the first two years, I didn't do EMD on any of my contracts. Nobody ever asked me, and I'd put $10 on the contract. Now it's different. Okay, so I used to do $10 and I'd photocopy the $10 bill on the copy machine with the serial number. Stupid. It was terrible. Somebody taught me that. Then I went to $100 because I was a big man. Now I don't care. See, deposits, you don't make any money in deposits. If you're broke and you have to fund it, I get it. Figure it out. If you have a monster deal and they want a $5,000 deposit, figure it out. You're going to let them because it's, you're not giving, you're just putting it in a little account. And if you do it right and you find someone to take over your contract, you get that money right back. I've gone like three days when I didn't have the money to fund an EMD. EMD is very, very simple, but there's rules to it. And we all talk EMD among us wholesalers, but the reality is most of us don't follow the rules. Okay, I'm not going to get into recording affidavits and stuff because the only way you can do that is if you've correctly executed your contract and your EMD, and most of us don't. And it's just the truth. EMD, simple. Assignment of contract, simple. They both kind of work the same way if you really think about it. Correct. So just let you know when you guys put money in EMD, you know, when we say, "Hey, it's, it's non-refundable." It's not true. EMD, you have to give the money to a neutral party. Okay, what governs that EMD money? The contract. Okay, so unless you got written in your contract that both parties agree to forfeit and do it, you're not getting it back. And even that, it's open to interpretation to a lawyer and a title company. If you truly want a non-refundable, and you're very nervous, you have to sign a directive with the title company saying if this buyer does not execute by this date, they automatically release the $5,000 over to you. What you know, basically to you. Okay, so when there's a, you got $5,000, you go, "I don't fight the money anymore." When they don't do it, but I don't give it back to them. Do you understand that? So if you give me $5,000, and you don't show up on the 15th to buy the deal like you agreed, you're going to probably go try to get your money back. Well, you're not going to get it back because I have to sign off to release it. Now I go, "I'm going to get Clive's money. Give me the money." You know what? They, ladies and guys, you need to get Clive's sign off to give it back. And you go, "Crap. Now technically it's not refundable to them, but you're not getting it either." What happens? It usually goes to state, and then people actually have to sue you for it. But here's the deal. You give me $5,000, and you ain't getting it back. I don't play this game. You're not getting it back from me. And after they figured out they're not going to get it back, they usually come to the table and try to figure something out. That's it. Okay, when you get really good at this game, you can have them write the checks directly to you for an assignment of contract. You have to earn people's trust to do that. They don't trust us. We're new to the business, right? Are you going to just give me $5,000 cash? You don't know me. You want to give it to an EMD, and that's what you want to do with that. Okay, we, I can ask the title companies. Just ask the questions, guys. Get forward. Last question. Go ahead.

Yeah, you're talking about the seller. Yeah, that's a little bit different side of the equation. But it's, listen, sometimes stuff happens. But like I use EMD as a, a means to get people to the table. And listen, the more you ask for them, I'm talking about when you ask from your buyers, the less you have to babysit them. Try a $100 EMD on your assignment of contracts, you're going to create a massive job for yourself. You have to like call in the closing from you. Okay, $5,000 show up or I'm taking it. They don't know that you're not technically getting the money. They just know they're not getting the money, and that's all you need to imply with them. I don't want to, the only way to protect yourself is you have to be paid directly. And you can do that, but honestly, when you do that, you're going to take a deeper discount because they are taking some risk when they do that. I always advise going through EMD because you make your sellers more comfortable, and that's who we're focused on. I don't care about the buyers. But if you're going to play games with me, I'm going to leave your $5,000 riding in an account for the next four years, and then I'm still going to make a claim on it regardless. I don't waste my time in court. It's exhausting. They're for bigger fights on it. So any other questions?

Uh, when I'm buying it, my perfect wishlist, and this is a wish, would be 30 days. The reality of the market, you all ain't getting that all the time. Okay. Um, the least you can do is 15 because it takes time. And you can't wait till the 14th day to do it to get out. I try to be forward. So if you do 30 days, I try, listen, if I can't buy a find a buyer in two weeks, I'm probably going to get out or renegotiate. Three days, don't do it. You get really, he gets really mad at me. I put 45 days and close on or before, like, I'll put six months just to be safe. But I like 45 days. He likes 30. I usually, if you can get away with 30, you can get away with 45. Just depends on the deal. If I got a smoking deal, I want to close it so nobody changes their mind. If it's like iffy, I take my time. I get asked like, "Why is it for 45 days? Why don't you put it for three days?" Right? I always say, "Well, usually, you know, we're in Florida, it's hurricane season right now, and you know, whatever a hurricane hits, I'm stuck and you consume me and I have to buy this deal, right?" You know, usually in hurricane season, I kind of use that example, and that usually works out the best for us. What if we find out termite stuff like that? So I usually just do 45 days and they're like, "What do you?" "That's just what Rick usually makes me do on the, what, on the assignment of contract." Zero EMDs tonight. That's, yeah, tonight. No, they look at the house. If I have a soft property and like that's the only person, the guy goes, "I need a day." Give him a day. Like, it's, listen, if you don't have anybody else, you got to work with what you got. But like if you got a lot of action, I'm like, I go, "Just, you know, let me know. I'm making a decision tonight." Because a lot of them will go like, "I met everybody in the evening and I say they, well, let me think about it." I go, "Well, let me know. I'm making a decision at 6," and that usually goes, "Okay, they got to either make a decision or not." All right, perfect. All right.