How Collin's Wholesaling Multiple Deals A Month ($25k Wholesaling Profit) From The Pro Wholesaler VIP Program
In this interview, Collin shares his golden nuggets on how he's been able to wholesale multiple real estate deals a month consistently from the MLS (without any marketing) while working a full-time job!
The MLS truly can be your #1 deal source whether you want to wholesale, fix & flip, or buy cash-flowing rental properties each month - just like it is for us & our students!
We love using the MLS as our main acquisition source because every single day there are new leads uploaded, which allows you to close multiple deals every single month - just like Collin's doing!
Hope you enjoy Collin's Pro Wholesaler VIP Program Review!
-- Pro Wholesaler VIP Program Review Video Transcription --
Ryan Zomorodi (00:00):
All right, everyone, I'm here with Collin, who is a Pro Wholesaler VIP member out of the Dallas, Texas market. I wanted to bring him on today because he's had some amazing wins recently. He's been a member of the Pro Wholesaler VIP Program going on three, four months now, and he's been able to close multiple deals, one of them being a $15,000 wholesale profit.
He's also been contributing a ton of value in our communities, sharing some of his best practices, analyzing deals, and really just helping people out altogether, so really appreciate your time today, Collin.
Wanted to bring you on just to share a little bit more about your story and your journey as an investor and a pro wholesaler. First off, how you doing today, Collin?
Collin (00:43):
I'm doing pretty good. How are you?
Ryan Zomorodi (00:45):
Yeah, doing excellent. Doing excellent. Thanks for asking. To start, just wanted to mention you're working a full-time job right now, and really just out of respect for that, you mentioned just keeping your business logo on, which I think is an awesome logo.
Collin is the owner of Gladiator House Buying, LLC, and really just an inspiration for those who are working a job and are looking to get in the business. I mean, can you maybe just speak to that as far as kind of getting the ball rolling while having other commitments?
Collin (01:23):
Yeah, absolutely. When I first got started in the program, I was kind of in the same place that a lot of people are whenever they first get into this. Do I have enough time to do this? I work a full-time job, 40 hours a week, it's crazy.
At the end of the day, I always see things as risk versus reward. What's a little bit of my free time versus having the reward of having this side income, learning a new skill, and everything, and so I've elected to kind of get rid of some of my extra free time and use that time to study real state and figure out how to do all this.
It's one of the greatest things I did. I absolutely love it.
Ryan Zomorodi (02:10):
Yeah, absolutely. No, I really respect that. We all have the same amount of hours in the day.
A lot of us, a lot of people will watch the Netflix, just escape from reality, but others are still motivated to make a change for themselves, to make a difference in the community, to change the destiny of their families, so I think when you're acquiring skills and really applying that knowledge, it can make really big difference for yourself and your family, so that's really respectable and definitely admirable.
Yeah, thanks for sharing that, Collin. Really, just to start, if you wouldn't mind just sharing a little bit about your background and what you're doing before joining the Pro Wholesaler VIP Program.
Collin (02:58):
Yeah, absolutely. Right now, I'm 27 years young, wanted to get into all this, and I'm also working my first full-time job ever. That's really the only thing that I was doing before I got into real estate, just working, yeah.
Ryan Zomorodi (03:21):
Awesome. Yeah, so did you have any real estate experience or any kind of background in the industry prior to joining the program?
I believe you had maybe tried doing it yourself for a few months before the program, starting to dabble, and then found the program, and things started to happen from there. I mean, did you have any relevant experience?
Collin (03:47):
Yeah, about six months before I joined the program, I happened to just be online, looking through different ways to make a side income. I came across real estate investing.
Then from there, I started looking at watching YouTube videos, which I'm sure is how a lot of people originally start out before they realize they need a mentor, so I started that out, and then I came across a separate program that I was able to pay a thousand dollars and get a little bit of information out it.
Collin (04:22):
That one was very interesting for me because I got a very limited amount of stuff that I was able to do within it and it essentially did nothing but open up more questions, which I had to go and pay 10,000 more dollars to get ahold of all the other information that I wanted, and I was like, "Yeah, no, that's not something I'm going to be doing,".
So I used a little bit of knowledge that I got from that $1,000 program and started trying to do it on my own and very, very quickly realized I didn't have the skillset, the knowledge and I wasn't finding any of that really anywhere.
That's what led me into doing a little bit more research in finding the Pro Wholesaler VIP Program.
Ryan Zomorodi (05:09):
Yeah, nice. I guess, what were the things that you were trying beforehand that you were struggling to get the traction with?
Were you in marketing or other ways to find deals? Can you speak to that just a bit?
Collin (05:24):
Yeah, absolutely. One of the things that was talked about inside of that program wasn't something that is uncommon for people to say, especially in our field, and before I get into this, that I've now figured is completely untrue, that the best way to get deals is through off-market, so going through, and I had done a bunch of Google Ads.
I think I spent upwards of $750 into Google Ads that runs and adds to my website, it's supposed to attract motivated sellers, and as for as much money as I put into marketing, I had a lot of clicks on it, but never once had anybody actually put their information into it.
For those that don't know who, how Google Ads works, every time get a click, you're paying Google so much money.
Collin (06:21):
Then after that, there were some websites that I had signed up for where they're supposed to be the ones attracting the motivated sellers and they give them to you for a price.
Well, that price was $750 a lead, and so I are paying $750 a lead to get these motivated sellers.
Come to find out, half of them are not the homeowners, the ones that I need to be talking to. Even if I skip traced the property, the majority of those homeowners are buying and hold investors that were not looking to sell, and so that almost became a moment of, "Yeah, now I'm doing nothing but wasting money doing this."
Related: Finding Motivated Seller Leads: Free & Paid Tactics
Ryan Zomorodi (07:05):
Yeah, no, that's really interesting. Yeah, trying the pay-per-click on Google, driving traffic to your own website, not seeing actual qualified leads coming in, and then changing gears a bit, and then paying a company actually gave you the leads.
But then those leads weren't actually either the decision-maker or they weren't as motivated as maybe they had promised from the get-go, so that's really interesting.
Obviously, everyone only has so much of a budget, so once you hit a point where you're like, "Hey, I'm not even getting deals, I'm not even making offers, or getting really quality of leads," at a certain point, you have to shift gears and find a new strategy, which sounds like what you did.
Collin (07:50):
Yeah.
Ryan Zomorodi (07:56):
Yeah. Joining the program, what has your experience been like in the Pro Wholesaler VIP Program?
You've tried something beforehand, you joined, and then, I mean, how have things gone since joining? I think it's probably three or four months ago at the time that we're speaking.
Collin (08:13):
Yeah, no. Three or four months ago when I joined, since I've joined, everything's been great. I mean, don't get me wrong.
I had a huge learning curve I had to get over because like I was saying earlier, every single person I had talked to in the past had always told me, "Stay away from on-market deals.
You do not have a deal on market. If it's on the MLS, nobody's going to touch it." It's crazy to sit here and think about that now because I think that's where all the best deals are. But either way, everybody's got their own way of doing things.
Collin (08:48):
Since I joined and I was able to go through the scripts and learning how to talk with a listing agent and going down the route of those things, everything has for the most part been pretty smooth.
I, of course, had my learning curves. It's funny, I can still sit here and remember the moment where you and I were on a call. I had put in a question and I was like, "Hey, Ryan," I've got this deal I want you to look at," and you opened it. I told you everything I was looking at with it and you said, "Well, I don't know what you want me to do with this.
You've already got all the questions answered for yourself." That was kind of my moment of realizing, okay, I've got the base with this.
Now, I need to get out of my comfort zone that much more and continue forward and actually do my best to go and get this deal under contract because I mean, if Ryan is sitting here telling me that I've got all this squared away, I've got it squared away, so it's time to keep on going forward.
Ryan Zomorodi (09:52):
Yeah, absolutely. Yeah, that's really what I appreciated about you coming into the program. You did the work, you worked the process, and then you showed up at the calls with questions, with deals, you're finding great opportunities.
Then you had all your is dotted and ts crossed, you came forth with your numbers already ready, it's just you wanted that second opinion, which is valuable as you're getting the ball rolling.
When you have that confidence to take that next step, to really pursue that property aggressively, and really get it under contract, so yeah, I was really pleased to see you on the calls, leveraging all the resources, scripts, calculators, et cetera, and just getting that extra confirmation, so definitely, kudos to you for that.
Ryan Zomorodi (10:43):
I know you really hit the ground running and we'd worked together quite a bit, different strategies, answering questions.
You dropped off for a little bit, maybe like a month or two, and then probably more recently, just a couple of weeks ago, you hopped back on another one of the coaching sessions and had some really awesome wins to share with the group.
So I'd love to just dive into maybe one of those wins, one of the deals that you did that you can share, just as much detail as you like, just how you found it, and then talking some of the numbers on it as well.
Collin (11:23):
Yeah, absolutely. The deal I'm going to be sharing is my biggest wholesale profit I've gotten off of one so far. This house was a three bed, two bath, 1200 square foot house. It was listed $135,000.
Given one of the things I've noticed about the DFW market is the closer the prices to the square footage, like it's 1200 square feet and was listed at $135,000, since those first few numbers match up pretty well, that's almost my way of how I've realized it's going to be a pretty good deal.
I ran all my numbers on it, came up with an ARV of just over, I'm sorry, just over $275,000.
Collin (12:15):
When I was going through that, it wasn't in need of a whole bunch of repairs, it wasn't anything crazy that needed a total gut or anything along those lines, and so I was able to estimate the repairs at being about $50,000.
After there, I threw into the deal calculator, that's amazing that y'all gave us, works wonders, and for sure helped my confidence a lot with this one. After I plugged in all the numbers, I realized that the deal that my investor partner would be getting at the end of it, after he does the fix and flip on it, would be just over $40,000, almost $41,000.
The deal ROI percentage would add it up to where he would want it and so I was like, "Hey, let's get this under contract."
Collin (13:05):
Sent in my original offer for $135,000, and instead of doing an inspection period, I did an option inside of it, and so I would have a few days to back out of it for whatever reason if I wanted to.
They came back with it and flipped it back on me and said that they would do 160 with no option. Then I flipped it back around on them again and said I'd do 150 with a two-day option and they ended up accepting that.
A couple days after we got it through escrow, I went to my investor partner and had him sign the assignment and that got me my $15,000, wholesale fee. It was a great deal. I absolutely loved it.
Ryan Zomorodi (13:58):
Yeah, that's phenomenal. Great numbers and something that I think is awesome and really a testament to you working the process and really appraising this properly correctly is you didn't just look at the list price and say, "Hey, this isn't a deal," or offer list price, you knew that it was a good opportunity in that you even offered above list price.
So in order to be competitive, you knew you wanted to tie up the property, and you're willing to be flexible with your terms as well as the price, so that's amazing.
Ryan Zomorodi (14:40):
A lot of people may think that just because we offer above list price or properties that get bid up, they sell above-asking price, that it's not a deal and it doesn't work.
But in your case, you're able to tie it up for about $25,000 above list price, listed at 120, put it under contract at 155, and then wholesale it at 170, so you're still able to pocket a nice $15,000 profit and offer above list price, which I think is pretty amazing and your buyer still had a $40,000 profit still had meat on the bone.
Ryan Zomorodi (15:19):
In many cases, and this is something that we talked about, listing agents have different strategies for listing of property. Some of them list it way too high, they list it where you the after-repair value is, not considering all the repairs.
We've all seen that. Some of them price it really well. They want to attract more offers, they want to attract more interest.
Way to be competitive, way to be flexible, and ultimately, negotiate a great deal for all involved.
Collin (15:50):
Yeah, thank you. You said exactly what I was about to say. One of the biggest things that I've learned about listing agents is half the time that they're putting the price point that they are, it can easily be moved from where that is.
Sometimes it'll go up, such as the case with mine, and because I was able to still make the deal work, all I did was change my wholesale fee because I'd much rather get a smaller wholesale fee than no wholesale fee.
After I adjusted that, and that was perfect, but yeah, no, listing agents, I love them. It's almost a love/hate relationship because they try and switch the numbers up on you. You got to learn how to play that game, almost.
Ryan Zomorodi (16:37):
Yeah, absolutely. Yeah, every situation's a little different, every deal is a bit unique. You're working with different personalities, different listing strategies, and different levels of competition.
But ultimately, you got to just feel it out, build that rapport, make that discovery call, and then make the best decision going forward.
Ryan Zomorodi (17:00):
One thing is that listing price doesn't necessarily equate to value. The value is in the exit strategy for the investor and what they plan on doing to that property. One strategy might allow you to pay a different price.
What we really emphasize in the program is working with our financial partners, working with whatever exit strategy we have, knowing it really well, getting clear on the criteria, and ultimately, that's going to determine the purchase price, not the list price.
We as investors, we determine what we can pay for that property depending on our exit strategy or our financial partners' exit strategy as well, our cash buyers, you follow that to a T and you're able to come to an agreement that made sense for you and your partner.
That's amazing. How long from when you first saw the property to closing, approximately how long did that take?
Collin (18:05):
Oh, probably about 40-ish days. Yeah, after seeing it, it didn't take long for me to get it under contract and then 30 days until close, so a rough estimate, around 40 days.
Ryan Zomorodi (18:22):
Awesome, awesome. Yeah, that's pretty quick for a regular transaction these days, I'd say longer for a cash deal, but some sellers, I mean, the great thing about being investors, we can be as flexible as possible when it comes to sellers, so we're not like an owner occupant.
We have a specific timeline we have to hit, so we can definitely work with sellers and be the most accommodating for their timeline, so that's pretty awesome. Yeah, $15,000 in 40 days, but you were able to assign it relatively quickly.
From when you put it in a contract to when you had your buyer securer, how long do you think that took?
Collin (19:05):
Oh, that took a matter of hours. I knew a couple of hours after the deal who it was going to go to because I'd already gone through and came up with my cash buyer list and knew all their criteria.
The only reason it took a couple of days for me to get the assignment closed was because that same investor was working on another deal that he was about to close and make his profit off of that one, so I was giving him a couple of days.
But at the end of the day, it wasn't my first I'm doing a deal with him. He knows me, I know him, and so I knew he was going to jump on it as soon as I was able to get it to him, especially since he had that one that was closing up already, and that was going to be that much more free time for him.
Ryan Zomorodi (19:47):
Yeah, that's fantastic. That's one of the things we love is just working with the same buyers and building that relationship long-term.
It's great that you found a financial partner that you're able to work with consistently and you have that level of trust and you can just continue to bring him deals and he'll continue to buy, so that's pretty awesome. Awesome, yeah.
I mean, thanks for sharing that. What's next for Collin? I mean, what's life like now after joining the program, getting these wins under your belt? What's the next thing you have your sights set on?
Collin (20:27):
Oh, man. The next thing I'm leaning towards, I'm actually still kind of figuring that out. I've toyed with the idea of doing fix and flips myself and going through and learning that much more into real estate investing.
Really, after getting all this down, I've realized how important it is to invest just in life in general.
I do for sure want to get further into real estate investing and eventually be able to do buy and holds, fix and flips, everything along those lines.
Collin (21:06):
But I'm also looking into stocks. I'd started reading the Rich Dad, Poor Dad series, which I would highly recommend to anybody, they're great books, and they teach you a lot. I'm on their third book now that's just about investing and I think it's awesome whenever I read into it.
Especially after starting this because of how much it talks about real estate investing inside of it and how important of a thing that is. I never would've known any of this prior to, I just happened to stumble along lines, and so it's amazing.
But yeah, just further on investing, whether it be stocks more into real estate, trying to learn more into off-market, but given my experiences with that in the past, I'll probably stick with the on-market stuff.
Ryan Zomorodi (21:57):
Yeah, no, that's awesome. I think, yeah, investing, in general, is really where everyone wants to get to. We call it the evolution of a real estate investor starting with more of the active, income-producing activities, such as wholesaling.
Even if you're a real estate agent, it's kind of similar where you're really very active in the business, but you're learning a lot of the investment side so that when you do accumulate that capital, you get some wins under your belt, and you grow that war chest, now, you can actually put that to use.
Using the same activities, the same acquisition strategies, instead of wholesaling the deal, now, you can purchase it yourself for fix and flip, fix and refinance, fix and rent it out, exercising the same model, however, just taking it down yourself, sing that capital, raising money from perhaps your other financial partners.
Ryan Zomorodi (22:55):
Yeah, we really believe that wholesaling is such a great entrance into the world of investing because you know, you're, you're learning these acquisition strategies.
You can watch a deal from just hitting the market to closing to then getting renovated and sold, or renovated and rented without necessarily having to invest that capital upfront, without having that capital to begin with, but then ultimately having options to invest in the product that we're working with, or like you said, diversify into stocks into other types of investments as well.
That's awesome. That's really great stuff. Definitely look forward to seeing you evolve and you getting into those different investment activities.
Ryan Zomorodi (23:43):
Just to start to wrap this up, Collin, I appreciate your time, and I know you're a busy dude, I guess, what would you tell those who are on the fence about joining the Pro Wholesaler VIP Program and getting started on their journey as a wholesaler and as a real estate investor looking to acquire deals and scale their business?
Collin (24:05):
Yeah, so for those that are looking into it, I would highly, highly recommend it. This is coming from somebody who did try and do the mentorships with gurus and all that fun stuff. That's more of a marketing thing for them.
That's one of their ways that they can get income. But I look back on it and I think it's funny how much I, myself, whenever I started to join was on the fence about it. I mean, I'd do it again today if I needed to.
Anybody who's looking into it, it's for sure a worthwhile investment. The big thing to remember once you get into it, though, is you got to put the time into it, and you have to actually act on it. I've seen through other programs, people who will get into it, and never do anything within it and never make a phone call to anybody.
I mean, at the end of the day, as long as you're willing to get into it, and as long as you're willing to push yourself, get out of your comfort zone a little bit, it's going to be well worth it for the rest of your life.
Ryan Zomorodi (25:12):
Yeah, no, absolutely. Yeah, I appreciate you saying that. Really, just setting that expectation. The work just doesn't happen for you, in business, in life. In this program, we'll give you the tools, the education to succeed, the coaching.
We're by your side every step of the way, but no one's going to do the work for you. But when you go through the process and you get those first few deals under your belt, now, you have the keys to the kingdom. You have a model that can produce returns for you know month after month after month, really for the rest of your life.
Like you said, this isn't like a gimmicky, get-rich-quick scheme. There's really no tricks here. It's just this is a proven model that's timeless, and it's not going away, it's just a matter of learning the fundamentals and applying it like a business owner like you have done successfully, Collin.
Ryan Zomorodi (26:10):
Definitely fills my heart with joy just to see you come in here and hit the ground running and really get the results that so many of us are looking for, and really, I know it's just the beginning, so yeah, it's been definitely a pleasure to work with you and just help you along the way.
But ultimately, it's you who has been able to make it happen and I'm really excited just to continue to be a part of your journey, support you in every way that I can. I know the rest of our community is very grateful for the things that you're sharing and just helping people see how you're able to put the dots together and really make something of this.
Again, really appreciate your time today, Collin. Yeah, look forward to working with you and seeing you on future Q&A calls and seeing you crush it going forward. Any last words?
Collin (27:07):
Yeah, just to wrap up everything, like what we were talking about first, I appreciate your time as well, all the hours that you've put into me, the program as a whole.
Genuinely, it's been life-changing and it's something that I don't know where I'd be right now out without it and so I can't express enough gratitude about that.
Then looking back towards the beginning for everyone else, let's get started, let's get you into it. It's time to make that life change. Only you can do it.
Ryan Zomorodi (27:44):
Yeah. Love that, man. Yeah. Anyone is able to do it, it's just not everybody will. We definitely want to make it as easy as possible and as realistic as possible to help anyone achieve the goals.
That's awesome. Yeah, I appreciate that, Collin. For anyone who's looking to take the same path and join us in the program, go ahead and feel free to reach out. We'd love to work with you and help you see results.
Hope everyone has a great day. Looking forward to chatting soon. Thanks again, Collin. We'll talk soon.
Collin (28:23):
Sounds good.
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