Episode 60: The Fastest Way to Do a Wholesale Deal Using No Money • REI NETWORK
 

To succeed in the business of real estate marketing, you need two things: time and money. Well, today, I’m here to tell you that you can actually get started in this business without putting any money down at all. And I don’t just mean to buy the property: I mean no money spent on marketing either.

The best thing is, I know this technique works. It’s how I got my start in real estate.

So, how does it work? Well, it all starts with networking. You’ve got to make connections with other investors and realtors, and build relationships with them. Start small, by focusing on just one or two people to work with.

The thing is, most investors don’t properly do their follow up, which means they are leaving money on the table. 90% of your deals are going to come from good follow up. So, once you have a good relationship with an investor, ask them if you can take some of their dead leads and follow up on them. If anything comes of the leads, you split the deal 50/50. All you need to do is be able to use a phone, and you can start making money.

Once you’ve done this a few times, you have the money to start taking the lead yourself and really growing your business into what you want it to be. I did exactly that, and now I’m traveling the country in an RV with my family, doing deals on the road and having the time of my life.

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Watch the Episode:

What’s Inside:

  • What if you’re just starting and have no money for marketing?
  • The importance of networking with other investors.
  • How to partner up on dead leads.
  • How to grow into your own real estate business.

Mentioned in this Episode:

 

Hey, guys, welcome to the REI Networkpodcast with me, Gavin Timms. 

Hey, guys, how are you doing, Gavin Timms with REI Network. How’s it going? We are back with another episode, superexcited about today’s episode. 

I’m going to be teaching you the fastest way to a wholesale deal using zero dollars. You know, none of your own money, even zero money, even in marketing. All right. This is how I got started in the business so I can talk to you about personal experience of actually doing this. So I know it works. I have clients that do this as well to get your first wholesale deal. If you don’t have any money. I’m talking like I said, no, not to even buy a house, but actually to do the marketing as well. 

Just before we jump in, if you’re watching, make sure you like and subscribe. OK, I have more content. Come, go and check out my YouTube channel or my podcast, REI network podcast with Gavin Timms. That would be awesome. If you want some downloads, go to REInetwork.com/downloads. 

So let’s get back in. Let’s get straight back into this. How we actually going to do a deal with no money down? There’s two things in this business that you need. Number one is money. Number two is time. OK, all you need both you are both obviously is slightly easier if you do have time to work your business and you have money now, all you need at least one of them. Now, on this episode again, how do you do that? What’s the fastest way for you to do a wholesale deal with no money? 

And again, that is for marketing and putting their earnest money down or even buying the deal. And that’s what I want to talk to you about. So the first thing you need to do if your new. All right is you need to start networking, right. REI Network. That’s why I called it because I am passionate about the word networking. I believe it’s this business is a lot about networking, building relationships, collaborating with other investors to get deals done. That could be the whole cell as it could be property managers, realtors, cash buyers, all of the above to actually get results. So what I want you to do and how you’re going to do this, and this is exactly what I did, is to start networking in your local market and find out who is doing marketing currently and find out what, what what have they got going on in that business. And the big thing that you want to focus on when you’re networking is how their systems are built and how much follow up they’re doing to get their deals. 

Now, what you’ll find is a lot of investors, they pick their ones and twos is from the marketing efforts that they’re doing. You’ll see a lot of investors that are already doing one day or maybe two dollars a month do not do a lot of follow up. Now, I’m here to tell you from again, experience that I currently do in my business, over 90 percent of the deals that I do come from follow are you’ve heard me before. I talk about it a lot. It’s all about the phone. Now, again, there’s so many people out there doing marketing outbound and inbound. Remember, outbound is where you’re doing your techs in and you’re cold calling potentially in your inbound. Could be a direct mail, your PC, your Facebook ads and things like that where they’re calling you now, regardless of what they’re doing, a lot of people fail on the follow up. So if you can network and build relationships and collaborate with people in your area, groups and Facebook groups and local meet ups, OK, and build relationships with people, you can actually join them and help them with the follow up. That’s how again I started. 

So get this. You’re going to be using your time with their resources so you don’t need systems anymore. You don’t you just need a phone to be able to dial from now. You could say, well, you said no money. Well, obviously you need a phone. Right? And if you have a phone, maybe a laptop and an Internet connection, but at least a phone, you can use pen, paper, spreadsheets you can invite into their CRM to start doing that follow up. All right. And that is going to be the fastest way by partnering up with someone that doesn’t have a good follow up system where you can then go, well, what if I were your follow up? And if I get anything, we’ll partner on the deal. Fifty fifty. How does that sound? You you’re literally using free leads that are coming in from maybe direct mail, again, PPC, call, call and whatever that have been prescreened. That wasn’t a deal today, but they haven’t been followed up. And I’m telling you, you’re going to have a lot of investors at these meetings that are in that position. They may be doing a few deals. Well, they’re not really following up. And if you can just dial OK, then follow leads, make sure that you have great communication. 

If you want to get more leads off them and you want to build a relationship with these people, you need to start with one or two people to start with. Even one is a good start. Right. And even if they’re not just going to hand the CRM of leads over to you, all right, you can have to build a relationship. So ask the ten leads to see how it’s going to go and make sure you deliver, OK? Make sure you’re calling them people. You’re taking good note. You’re giving them updates. All right. On where you’re at, what you’re working on and when I. This I when I first started, I spent seven hundred fifty dollars on direct mail, did not do a deal, and then I went to this model, I literally stood up in a meeting with 40 other people and I said, hey, my name’s Gavin Timms. I’m from England originally. I’m new to real estate. One thing I believe I can do is I’m good at talking to people and I believe I can close deals. I just don’t have the money to lead. If anyone wants to partner or do anything like that, let’s talk. And I kind of sat back down, get my number down from that. 

I met a lady. We talked, we said, hey, let’s make a coffee shop tomorrow, which we did. She bought a spreadsheet on a laptop with sixty dead leads from direct mail. These were three months old. I could see with the notes and they said, look, these are all dead. You never know if you want to call them and if you call them, see if you can do anything with them. So I did. I called one at a time and I reached about 40 people over a week period of dialing every single day. And we actually locked up to date was within about seven to ten days. I had my first two deals on the contract and in closing and there were only small deals, but the concept had been proven. I knew the hold on a minute if I could work with people with no overhead and I was making fifty percent of the profit to put the time in and I was only working the phones, I’d actually set this up. I was never an appointment. I wasn’t on the contract team because I was scared to death of actually having to buy this house. 

Remember, I didn’t know anything. I didn’t know what I was doing, but I was making things happen. Now, I’m not saying you don’t need to be on the contract depending on where you’re at. But my point of this is, is that you’re going to be jivin and networking with other people, spending money on leads and then not working efficiently. And it’s you can tap into that and use your time. That is going to be the fastest way to do a real estate deal. And that is how you’re going to get on the map. You’re going to prove all your doubters wrong, many family members, the circle, people around you. All right. If they’re not used to going to a job that may not be an entrepreneur, they may not have an entrepreneur mindset and they’re going to doubt you. And that’s OK. You’ve just got to work through that and channel that into into positivity for you to feel you to get results. That’s what you need to do. And once you do that, guess what they’re going to do when you start to get results, then they’re all going to want to know how you did it and they’re going to want to get on board with you. That’s just the way the world works. So don’t don’t worry too much about that. But guess what? Also is going to happen. 

So that is going to be, again, the fastest way to a deal, right. Is, again, to network with someone else, build a relationship, start work in that dead OK. And this could be for wholesale or creative. It works exactly the same way. And then keeping them in communication, keeping them all day, showing you that you’re updating the notes, you’re hungry, you want this. And I am telling you, within a couple of weeks you will see success. We are acquisition manager has been with us ten days and he’s already got three, four, five deals potentially getting signed just from follow. OK, plug it into the system just like you would be as a new person. All right. Plugging away and getting deals under contract from the follow up. But you’re going to be offering a 50 50 split with no marketing dollars out of pocket. Just profit on your side and you can negotiate the splits. But I’d be heading in into into a fifty fifty. 

Now, what is that going to do for you if this works now? That is what you’re going to you’ve got to be thinking. I’ve just told you the fastest way to make money in real estate with zero money. And I’m telling you it works. I want you to message me if you have done this and you’re listening, I want you to put a comment. If you’re going to go and do it, I want you to put a comment and you’ve done it. I want you to come back and comment. All right. And let me know if this works for you. Well, the cool thing is, is where does it go next? This is the crazy thing, because once you have then proven yourself like I did, I got three deals in the space of ten days from dead leads. I’m hungry. I’m going to make this work. I have the mindset that I would not be stopped and I was going to do whatever it took to get results. 

Now, once I prove myself and did that, guess what happens now? You’re in a powerful position to start calling a few more shots, to stop being a little more daring and risky, to build and push that relationship on, as I did by starting to say, hey, what if you start to do some more marketing, you start paying for marketing. I’ll take the calls, get them on the contract. You can either buy the deal or move it to you and desperate and will part partner fifty fifty. How does that sound? And that is then how I started to build the business. We started then and then it was asked me, well, how much do you want to put in, how much do you think in. And I was like maybe two thousand and she was like yeah no problem done. So now we were doing twelve months on direct mail. Then we built we did some deals together. I was also working with two of the people doing exactly the same thing. 

So all of a sudden now I had marked him, paid for. I was doing the phone work, locking it up. They would dispo in it, but they wouldn’t get involved until I had a contract. And then we were split in 50 50. And that is how I then built made money. Because remember, when you start to have more money, you start to reinvest. You can start to build your your own system. So then I flipped roles in my business and actually started to be on the on the initial side of building the systems, doing the marketing and getting all the people to do the work and start to grow the business in that way where you can do exactly the same. And again, that is going to be the fastest way to do it. And then the fastest way to start doing multiple deals and growing a partnership. 

And once you’ve got that money coming in and you solve the core problem before because you didn’t have money, now you’re making money, you’re making good money, you’re doing assignment fees from five, 10, 15, 20 thousand dollars. You’re changing your life because remember when well, you know this maybe if you’re watching this for the first time, but for me as a golf pro..When I got offered a job in the United States, five days vacation, forty thousand dollars a year with a five thousand dollar bonus. I knew when I got into real estate and went all in that I needed to do forty five thousand in year one to break even. And I smash that target within six months and then build from there when I was making the money of doing five thousand a month and then 10, 15 a month and so on, it gives you a different position in your real estate business to then grow and start learning more about the systems and creating a business for you to to be able to work on and not end. 

And you’ve heard me talk about the three phases vs. the partnership, and I actually did it in reverse. I did the partnership. I started to then build my own systems out with all the wholesalers, and then we started to then develop more of a business working on the business by hiring acquisition, doing the disposition, doing different marketing channels. And I started to then take a high level on the business to kind of oversee everything as a business owner and start to then transition to work 100 percent on the business and not in the business. And I think a lot of you listening to this, that’s where you’re headed. And I I had never read a book on real estate. I’ve never built courses or anything like that. I went straight into coaching, obviously being a golf professional, being a coach, I understand the importance of coaching. So I wanted to learn the right way. And I wanted to to be successful and I wanted to get there as fast as possible. I knew I needed a coach. That’s my mindset. Maybe different. And you can follow on with courses, but I needed to get my questions answered and to me and get help and get results. And that’s what I chose to do. And I wanted to really give myself after I have to jump in into real estate. I mean, I’m not I’ve never been in real estate. I’ve never done anything like that. And I knew sales and marketing and have the self belief to be able to do this. And once I had, I be able to create and build on it. 

And that’s exactly what I did to then doing six, seven, eight, ten deals a month in wholesale and creative finance. I didn’t fix them flat work in multiple markets, doing deals from Matt, from Overture, from Savannah to Maui, from England, doing deals in in Alabama, Louisiana, Florida, doing deals and a lot of different states. But it didn’t happen overnight. Right. You have to have a plan. You have to start somewhere. And the big thing is, is proof of concept, getting your first wholesale deal done and understand then, of course, if you have money and you can put money into marketing and do all that things. Yes, you that’s going to help. But on this episode, I don’t want to talk to you exactly what I did to do a deal with zero money, because the money that I put into mail, I didn’t do a deal off, OK, not my first deal. Anyway, it came from doing this and then got the investor, the wholesaler, the partner to invest. And that is the model now that I use. We flip flopped then then rolls and and I’m telling you now, these are the things collaboration is the key to getting results in this business again. All right. 

Network. I called it that because this is how I started. This is how I believe I made it in the business. And and I have some of the best and I’m thankful I have the best relationships in the business. I know some of the top guys that are good friends of mine and but I treat everyone the same. Right. I just got a couple of messages on Instagram of a guy I’ve never met. I don’t even coach. You ask me a few questions. I helped him and he’s just on his first day off for five thousand dollars and I made up for him. Right. And then that’s what it’s all about. I get more from the people that I can. 

Now, if you’re watching this again, give me a like. Give me a comment. Tell me if you didn’t like it. I don’t know. It doesn’t have to be good. Feedback is everything to make us better, and that’s what I thrive off. I try and do the best. I try and be the best version of me trying to be the best mentor I can be. And I don’t have all the answers. If I don’t, I’m the first to tell you that. But I want to get results. And everyone that I work with is in the program that I work with now. My goal is everyone to get results and my goal is everyone to work on the business and not in it and nothing less. Everyone’s goal. And I’m not as you probably know, again, if you’ve been following me, I’m not about the big office and the massive teams. I like to be kind of keep things lean and on target and KPIs and get results and have a profitable business that I can work from anywhere. And that’s the goal. 

And I will not change anything that I invest in now needs to align. You will not see me tied down to one state. I just got back from Michigan after five weeks. We were heading to Florida as I’m recording this in a couple of days for a week, and then I’m back up to Michigan to buy a lake house that we’re get in there. So it’s good. And I and I work every day well Monday through Friday. And I work on the road. I work from the RV because I’ve built something that operates from a phone, a laptop, and it’s pretty amazing. And I wouldn’t swap it for the world. I really wouldn’t. You could pay me a million a month and you probably say, yeah, right. Someone really did that. No, I wouldn’t give it up because it’s more to life than money. You have to experience life, right? You never know when your time’s up. And with from family and friends. And if you’re in Kopra and your work and I have a neighbor that does talk to him this morning, two hundred thousand a year is making it absolutely miserable, absolutely miserable in the corporate job, working too much miserable as can be. And I take sixty thousand forty thousand to have freedom to to be able to to travel and do things from anywhere and then build on that right to half a million, do it over a million a year. 

Whatever your goals are, you can hit them. So keep going guys. Let me know in the comments. You have any questions. I’m happy to answer anything. Put them in the chat. If you need help with anything, reach out to me on Instagram. Gavin Timms on Instagram. You can put in the, in the, in the chat of if you watching on, on, on YouTube and if you listen to the podcast again, hopefully this helps. 

All right guys, appreciate you. If you’re interested in working me, you can email me, support@REInetwork.com or go to ,if you want to get into the group section, go to REInetwork.com/join and we’ll be happy to have a conversation. If not, just stay tuned. I’ll be giving more content out and hopefully serving you all. All right. 

Appreciate you guys. You have a good day. Keep going. Keep investing and have a good one. 

Thanks. Bye bye. 

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