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How Kevin Made $7k Wholesaling From The MLS Within 30 Days - Pro Wholesaler Program Review

pro wholesaler student success video wholesaling Jun 02, 2020

Kevin (Pro Wholesaler Student) just recently joined us, and using our system got his first wholesale real estate deal from the MLS and made $7,000 within 30 days! Additionally, Kevin now has $60,000 worth of wholesale deals under contract ready to be closed.

Watch the interview above to see how Kevin is crushing it at wholesaling real estate!

What we cover in the interview:

How Kevin made a $7,000 wholesale fee within 30 days, & has $60,000 worth of wholesale fees under contract since joining the Pro Wholesaler Program!
How Kevin finds that his new MLS Strategy is "kicking butt" when compared to traditional wholesaling strategies.
Kevin's favorite tools & resources he uses for each & every wholesale deal.
How he was able to develop his mindset & become a Pro.
How Wholesaling for him is now systemized after going through the training modules.
The power of consistency & taking action.
How Kevin was able to set aside his skepticism & put in the required effort to achieve his success.
His thoughts on the Pro Wholesaler Program!
And much more...

Here's the video transcription on how Kevin made $7k from his first wholesale deal within 30 days:

Alex: Cheers, Kevin. Hey guys, I'm here with Kevin. Kevin enrolled in the Pro Wholesaler

program recently, and glad to have you in here, Kevin. You're definitely a shooting star, a rising star as well. I think within 30 days, you got one of your first deals from this system. Not your first wholesale deal per se, but from this specific system on the MLS. I know you have a lot of other ones in the pipeline, and just want to chat with you today, Kevin, talk about your experience since enrolling, because you've had a lot of success, maybe what you initially thought, maybe there was some skepticism coming in, and then just what you're seeing from doing the work, the results that you're seeing so far.

Kevin: Sure. Well, thank you Alex. I appreciate you actually having me on the call. I feel

honored to be here with you today, with the Alex Martinez. I appreciate your

system, and just so you know, thank you for the kind words as well. I did [inaudible 00:01:05]. I've seen you on multiple advertisements a lot. And then for whatever reason, the one day I decided to watch the webinar and I signed up for it. Really, what I was looking for is just alternative methods of developing income and properties, or creating a bigger pipeline and so I watched the webinar.

Kevin: Frankly, I was a licensed real estate agent at one point for many years, and my wife and I even owned a brokerage and escrow company and I've been partners in other

brokerages. But as a investor, I really never considered the MLS. But I watched the webinar, and it just made sense, like, why are we not looking at people who have their hands up to sell their houses? Being a past agent, I have a bit of a experience with agents, so I watched the webinar, I got on the phone call, and it just made sense, so I signed up. Now, in all honesty, the first week I did absolutely nothing, because I was working on another project; I was putting together my online Shopify store. So I had to get that project out of the way first. And then the second week, I watched all 55 modules in like four days.

Alex: Nice.

Kevin: I came from the office, and that's all I did. It was after section four that I actually

started putting it into practice. I didn't even wait till the end. Literally, on my very

first phone call, I think it was, I got ahold of an agent, I looked on the MLS, and I was just basically at that point going by days on market, and I found some and I... I think on the very first call, the agent was a little frustrated and we had a nice

conversation. He was eager to double end the deal, let's say, and so he pretty much told me what I had to do and it was within the numbers, so I told him, "Andy, write it up. We'll do it." We wrote it up, got an escrow closed in three weeks, and that was a $7,000 assignment fee.

Kevin: We offered well under market, but the sellers were motivated. The house was

vacant. They were absentee owners as well, so all of my favorite criteria: high

equity, absentee owner, vacant. It just worked out well. Today, actually a month

later, putting... got an offer on the fourth house going in already. The first house is

already closed, the second one is getting ready to close, and then put one in escrow last week and one in escrow this week so far, and it's only Wednesday. I'm hoping to have another one. These are all off the MLS using your system. So I'm very excited. Well, that's not between us since we're recording, but at the end of the day, what I'm finding is tremendous success in that out of the four deals I've got, I don't think I've made 20 phone calls. I'm going to be honest with you.

Alex: Wow. Awesome.

Kevin: I don't even think... Well, one listing agent said, "I don't work with buyers." She was kind of haughty about it. I said, "No worries." So we submitted the offer somewhere else, my wife. We didn't take it, because we lowballed a house that was torn down to the studs, and I didn't really want it anyway, but it's my backyard, so we made the offer. But at the end of the day, the system is working and it's working well. In addition to just using the system, I really want to point out here... I think this is key, at least it was key for me. Stop me if I'm just talking too much.

Kevin: But I want to make sure that one of the main things I got from the system, Alex, is

like, I already do wholesaling, but the mindset of being a Pro Wholesaler was key.

Even though I am a wholesaler, I never really looked, had the mindset of being a pro wholesaler. Even though I do this for living, I didn't have that mindset, and that was a huge shift for me. And then the two tools I've found very important are the cheat sheet, the repair cheat sheet, and then the deal calculator. Those things make you a pro. When you can realistically look at the numbers in black and white and adjust them accordingly to see if the deal works or not, or what you have to tweak to make the deal or not, and you can have that intelligent conversation with a buyer about, "Look, if we do A, B and C, your yield is going to be D," man, you come off as a pro, right?

Alex: Yeah.

Kevin: It takes all the guesswork out of it. They're really amazing tools that you put

together there, so I'm very happy to be using them.

Alex: That's what they're there for, for you to use them, to leverage them. Every deal that I've ever completed through almost a decade of doing this, I use the deal calculator, use the repair cheat sheet. Deal calculator is like the lifeblood of the business. It takes the work out of our brain, we're not doing paper napkin math; it's right there. These are the numbers, if we offer at this price, this is the ARV (After Repair Value), this is the repairs. If our desired wholesale fee is this, what's my cash buyer getting? So we know we're saving them a good deal. We know it's a good deal, and if cash buyer number one doesn't want it, how about cash buyer number two or three? Because it's a great deal. I love that-

Kevin: Exactly.

Alex: ... you pointed out the mindset as well, because there are different levels to this. I

think that a majority of wholesalers are almost in this amateur stage, and they don't understand that there's a lot of little things that we can do to help get the deal across the line, whether it's having incredible proof of funds that's legit, whether it's including our articles or incorporation with each offer, incentivizing the real estate agents legally in a way where they want to work with you, which makes a seamless transaction; just all of these little things. When I started, I didn't have this whole entire system. I did it for a long time then how to connect the dots looking backwards and then Oh-

Kevin: Sure.

Alex: ... it all made sense, it's repeatable. So I'm so glad you're finding a lot of value in it, because I feel the same way about the MLS as well. Why not start where there's a majority of houses already, when... I think it's definitely over 80% of all houses, that sell are actually sold on the MLS and through an agent. I think it's more around 90.

So many people are just focused on those... the 20% or even 10% of off market

deals. Right?

Kevin: Right.

Alex: But why not just focus where... Like you said, everyone raised their hand already,

they're already motivated to sell, we don't have to do any convincing. It's just, "Hey, can we build this relationship with that listing agent? Can we incentivize all parties the right way and give them a fair offer that works?" It doesn't work every single time. Right? So maybe you made 20 calls, maybe you have three or 4 contract; that's a great ratio. I like that.

Kevin: I'm very happy with the ratio, honestly. It's just working out really well. The bottom line is, I started off just going to different cities and doing the days on market kind of thing, but now, I've changed it up a little bit. I'm actually using Redfin. I went to Redfin and created some specific searches and specific areas. So I have properties in my inbox. I probably have 300 properties in my inbox right now. It's a little overkill, honestly. But the other side of the coin is I know my market area really well. So I can skim through 30 properties pretty quick and pick out what could potentially be a deal based on how the house looks, the information, because I can click on the thing and get a bit of a scope on it. Right?

Alex: Mm-hmm (affirmative).

Kevin: So I can pick out a house pretty quick that might be a value, and then I look it up on the MLS and get the detail and look at the comments and the days, all that sort of thing. But actually, I've been having a lot of luck using Redfin to bring me the information without me having to go type in cities and bedrooms and bathrooms. I just set up those searches on Redfin. So it's coming to me. So far, it's working out pretty well. One of the keys there, I think, is knowing my marketplace pretty well.

Kevin: On the other side of the coin, some of the houses that are still in the higher price

zone, there still may be a deal. Those, I need to do more homework on, but I'm just trying to go find the low hanging fruit and get those deals done quickly, and that gives me time to go back and relook at some of the other things. At the end of the day, the genius of the system is the agents want to double end the deals, and it's amazing how straight forward they will be once they realize that.

Kevin: So far so good, and I'm going to keep going. I truly believe that this is a viable

system, so anybody that's watching this or will watch it, if you're having doubts

[inaudible 00:09:55]. Alex, going back to the beginning, going through those 55

modules, honestly, half of the time, my head was not happy. It was telling me, this is never going to work, blah, blah, blah, all of the things that our heads are going to do. But I did completely ignore that and figured, "Look, if I paid for it, I'm going to at least do it." Right?

Alex: Mm-hmm (affirmative).

Kevin: Check things out. It works. The simple truth is it works. I believe that it's a good

system. And then the other thing that really excited me about your system, and part of what got me to purchase the system in the first place was the scalability of it. Because you are a handsome young buck, what, in your 30s, I'm guessing?

Alex: Somewhere around there, maybe late 20s.

Kevin: Okay.

Alex: Who's counting.

Kevin: Well, you have the mature look, how about that?

Alex: Thank you.

Kevin: But I am 62. So I'm looking for an exit strategy. I don't want to be doing wholesaling the rest of my... Not that I'm opposed to it, but I don't want to grind for the rest of my life at this point. So the bottom line is I love the scalability of your system, where I can teach others and then they can teach others, and then pretty soon, I'm just sitting at the top of the planetary system, and all the solar system is working underneath me and I can still generate income and get to that retirement I'm looking for. Does that make sense?

Alex: Mm-hmm (affirmative). Absolutely. Absolutely. You're doing all the right steps to get

there. You have to do it for yourself first, see all the way through. Because so many people join and try and delegate so quickly before they even have their own success with it. So you're doing the exact right steps to do that. So I'm very excited for you. Now you can have acquisitions associates. Man, you have someone working for you, making 20 calls, getting four deals under contract, and now they... maybe they get a commission of that, a finder's fee, but you're the owner of the company, the whole selling company. Very systemized, very repeatable.

Kevin: I love that. I want to be in different marketplaces. Here in Southern California, the

price point is pretty high, as you can maybe well imagine. My goal is always to get

something at 60, 65 cents on the dollar and maybe 70, and I've been pretty

fortunate doing that. But I'd like to be in other markets too. I've got Arizona, Texas, Ohio, Georgia, Florida. Wherever that market is, and then have those five, six, eight, 10 satellite operations running in different marketplaces at different price points. I don't have to be the expert in all of them. I can still be the expert in Southern California and then have those experts and then let them build their own wholesale team and then develop their own systematic approach to it. Everybody wins. In a system where everybody's winning, what can go wrong, right?

Alex: Yep. Yep. Absolutely. Those win, win, win scenarios, [inaudible 00:12:50] to call

them. Kevin, so you've tried other strategies as well. So how are you liking this

strategy, to get deals, as opposed to maybe the other strategies you've used so far?

Kevin:

Honestly, I'm getting a little spoiled. The simple truth is I... I have a story of how I

got here in the first place, but I won't bore you with all the gruesome details. But

the short truth is I was licensed for many years and I had this wild urge to go into

the insurance business, so I went into the insurance business, opened an agency,

had a couple of three agencies. So I was looking for that residual income that would feed me down the road. After five years in that, I could see I didn't want to put in another five years, because once again, I'm not a kid anymore, so I've got to be taking more realistic approach to time. Right?

Alex: Yeah.

Kevin: So what I did was after five years, I could see that I didn't want to put in another five

years, so I literally quit a six figure job as the VP of sales at a real estate investment company that focused on land on a Friday and started at zero in the insurance business on a Monday. I ran that for five years, and then when I made the decision that that's not what I wanted to do, I did the same thing, I [inaudible 00:14:00] insurance on a Friday and I started as a wholesaler on Monday. Right?

Alex: Mm-hmm (affirmative).

Kevin: Luckily for me, I have real knack for vacant houses. Right?

Alex: Mm-hmm (affirmative).

Kevin: I can drive down any street and pretty much tell you which house is vacant. So

that's what I did in the beginning. I just would look for vacant houses, and then I

would put them on my list and I would call them or I'd send them a card or

whatever. But I managed to get a couple under contract by just driving by and the owner happened to be at the house that day, and go up and engage and got my first couple of deals that way. To this day, I have a radar for vacant houses. I don't know how that happened, but it happened.

Kevin: So the bottom line is, that's what got me going. Now, in all fairness, I am actually an acquisition manager for an investor, a pretty famous guy here on the West coast. So that's what I do for... I do this for a living. We do all the traditional stuff; the direct mail, the PPC, the texting, the RVM's, all of that sort of stuff. It works. Their favorite is direct mail. But on one hand, you did like 70,000 postcards in one mailing, but you got zero deals. And then other ones you can do 10,000 and get six deals. And then he's kind of a famous guy, so he gets deals just off of Instagram. People just say, "Hey, look, I got this deal. Will you take it?" Of course, if it's a good deal, he does.

Kevin: But in terms of strategies and effort versus return, I think the MLS is kicking butt. I'll be honest. It's become my preferred method personally, because... I don't want to sound arrogant in any way, so please don't take this, or whoever's listening, don't take it, it's easy. We're talking to people who want to sell, we're talking to agents who want to make extra money, and it's... I'm not going to say it's a slam dunk, but it beats talking to a hundred RVM people that want full retail for their house. When they just hear all cash offer, they hear, "Oh, I'm going to get a retail offer." So this is an easier conversation to have, especially once you've engaged the agent and now they're working for you and they're on your side. Now you have somebody working for you. Right?

Alex: Mm-hmm (affirmative).

Kevin: And they're going to get paid for that, and they're going to know what the ins and

outs are, and they have their duty to the seller, right?

Alex: Mm-hmm (affirmative).

Kevin: Let's be honest. But they also have a duty to you as the buyer. And they have to

walk that fine line, but why not work with motivated people? In this case, that's

what your system provides, is the systematic approach to working with motivated

people. So far, I've found it easy. I'm not opposed to getting some nos or whatever. My ratio so far is incredible. I don't know if it's beginner's luck or just... I have the attitude that I am a Pro Wholesaler and I'm going to get a deal. I wake up every day with the mindset, I'm going to find a deal. If I get one or two a week and I can do that consistently, life is good. Right?

Alex: That's great. Yeah. [crosstalk 00:17:14].

Kevin: Whether I'm doing it for someone else or ultimately for myself.

Alex: Absolutely. Well, that's awesome, Kevin. Love what you had to share. I think what it really boils down to is you're just doing the work. You're just following the system and you're putting in the work and the results are coming. As long as-

Kevin: That's absolutely true.

Alex: ... you do that and you're consistent as well... This is not something where you're

doing it one day and then you're like, "Maybe tomorrow I'll do it." You're waking up each day saying, "I'm a pro, I'm going to get to work, I'm going to follow the steps, I'm going to reach out, do discovery calls, I'm going to submit offers." The fruits of your labor being shown for that, they're being delivered. So-

Kevin: This is the final note, Alex. I've always been a systems guy. Even in real estate,

when we first went into real estate way back in the day, we joined the Mike Ferry

system, because it was a system. We paid him a lot of money to coach us on how to

be good real estate brokerage owners. Right?

Alex: Mm-hmm (affirmative).

Kevin: When I left the real estate business and went to insurance, I went into a company

that had a system. So I didn't have to go scuff my knees up too badly to get going,

it was systematized already. When I came back to wholesaling houses, and I really didn't

have a system, so you could... I was lucky to find some deals on vacant houses, but it wasn't systematized. So when I saw yours... I've seen your advertising a thousand times, honestly, but that day was the right day. When I clicked to watch the webinar, I followed the system, I got on the call. Then from the call, it made sense, I signed up and then a week after... I'd say because I had one project to do in the middle. But a week after, I just dove into the system, and maybe helped on the first call I got a deal, I don't know.

Kevin: But at the end of the day, it's a system. So nobody has to try to figure out on their

own what to do. If they just get the system, follow the system, and like you say,

consistently do the system, I believe they will win. Believe it or not, I have 60,000 in wholesale fees in the pipeline right now. It's a good thing. So it's only going to get bigger and better. I'm crazy excited trying to [inaudible 00:19:25] up a notch. But I really am excited about this, Alex. I think it's good. I'm looking forward to maybe having that conversation down the road where we could maybe... I don't know. I don't know if JV is the right word, but we'll figure something out.

Alex: Well, thank you, Kevin. I appreciate that. Once again, if someone hopped in a little later, Kevin joined, once he put in the work, about three weeks later, he made a 7k wholesale fee from the MLS. So it works. Put the skepticism to the side. There's motivated sellers on the MLS, especially right now in our current economic climate. There's a lot of motivated sellers on there, now more than ever. So Kevin, appreciate your experience, appreciate you hopping on. Thanks so much for sharing your story. I can't wait to see your success and I can't wait to help you scale and grow this company and help you expand other markets as well.

Kevin: Thank you, Alex. I appreciate it, and it has been a real honor to be with you here

today. Appreciate your time as well.

Alex: Awesome.

Alex: Well, thanks, Kevin. You have a good one. Bye for now. Talk soon!

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