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The Titanium Vault hosted by RJ Bates III
RJ Bates III, affectionately referred to as the Viking Wizard by his students, started his real estate investing career in 2014 after attending a real estate education program that put him $65,000 in debt. RJ contracted his first deal he found on the MLS and wholesaled it for a $7,500 assignment fee. That was the end of his former life and the beginning of his venture into becoming a real estate investor. Since that moment, RJ has become an influential figurehead in the real estate investing industry. He has successfully purchased and sold over 2,000 properties all across the USA including wholesale deals, rehabs, rentals, owner finances and short term rentals. One of his passions is being the host of The Titanium Vault Podcast where he interviews the top real estate investors and finally, RJ has won back to back Closers Olympics earning him the reputation as the King Closer!
The Titanium Vault hosted by RJ Bates III
Real Estate Hot Takes with Alex Ottewell
Join Alex Ottewell and RJ Bates III in this episode of Real Estate Hot Takes as they discuss five different topics while Alex attempts to eat the hottest buffalo wings in Tampa, Florida. Enjoy the laughs and hopefully enjoy the interview!
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Alright guys, welcome to the first ever Real Estate Hot Takes with my friend Alex Otterwell. How are you doing, man? Not great, not great. So here's the rules of today's game. I'm going to ask you a question and before you can answer, you must take a bite of the hottest wing that we could find here in Tampa, florida. Just one bite, okay, okay. And then you have to give the most detailed answer you could possibly give me. While in pain, got it? While in pain, okay, okay. All right, you ready to get started? Torture, let's go All right. First question why did you retire from real estate?
Speaker 2:Oh, this is going to be fun, all right, so I just grab one, right, okay, all right. By the way, I don't eat spicy food, so this should be interesting, oh.
Speaker 1:This is gonna suck. Yeah, don't worry Four more times.
Speaker 2:Why did you retire from real estate, I realized I'd reached a position in my business where we weren't growing anymore and we were a fix-and-flip company for a long time. Holy shit, and yeah, I wanted a bigger opportunity. I saw a bigger option in oil and gas, so I moved into oil and gas. My mouth's on fire.
Speaker 1:Remember, the longer you talk, the longer it is before you have to buy another one of those.
Speaker 2:Okay, yeah, so basically it's a lot of similar verticals, but it's also a lot more tougher business. I went into it pretty blind so while doing it I realized very quickly there's cool opportunity, but it's a lot of difficulty.
Speaker 1:Risk quickly. There's cool opportunity, but it's a lot of difficulty Risk.
Speaker 2:Yeah, yep. What was the biggest loss you had in real estate? Hold on, okay, yeah, let me think about the loss. So yeah, come on, I'm actually shaking.
Speaker 1:This is fucking you already ate that one. You didn't know. Oh yeah, fresh one. Thanks Awesome. Oh, it looks a little dry. You didn't know. Oh yeah, you can chew a fresh one.
Speaker 2:Thanks, awesome, that one looks a little dry, it's not dry. Oh, this is miserable. Oh shit, get it off my face. Oh, get it off your face, bro, get it off your face, all right. So fuck, fuck, fuck, fuck. This is awful. Ah, okay, this is awful. Okay, this is pain with MJ Bakes.
Speaker 1:Biggest loss in real estate.
Speaker 2:I'll talk about the wildest one. So I had a guy that I was getting started in real estate and he wanted to learn hands-on. So he bought his first deal, did good Second deal. I sold him. I told him I was like, hey, it's a good deal, you just got to get the tenant out. He ends up walking in about four weeks later and it turns out it had a sinkhole in the middle of the house. So, being the responsible individual I am and I saw the kid crying as I'm about to start in a second with these wings I ended up buying it back from him. So it cost me over $100,000 to fix and, yeah, kept my reputation, but I ended up eating a bunch of money. Can?
Speaker 1:I drink, yeah, you can drink, okay, cool thanks. Yeah, you're sweating, yeah Is that okay, it's painful.
Speaker 2:I need more wet wipes.
Speaker 1:Yeah, we need more wet wipes. All right, you ready for number three? We need more white lights. Ready for number three? Let's fucking go. What's your biggest win so far as an entrepreneur? You can't talk, bro. You got to eat. What are you doing?
Speaker 2:It's painful. You're halfway through the game, I know, but it's like I can't do that one either.
Speaker 1:Here we go. Yeah, that it's just like Smith's. Oh, I can't do that one either. No, Ooh, here we go. Yeah, yeah, that one's hard it's juicy.
Speaker 2:Okay, this is miserable. Who thought of this idea? I don't know. Okay, cool, it's all on YouTube, awesome. So I actually forgot the question. Go again what's your biggest win as an entrepreneur? I bought a piece of land 10 acres. I paid $22,000 for it. I cleared it for $6,000. I sold on payments for $110,000, which ended up being $260,000 on a $28,000 purchase. That's it.
Speaker 1:That's a pretty cool one it was, but I'm just more wondering why you don't want to talk longer.
Speaker 2:Because oh yeah, well, I just want to get this over with you, don't want to be done. I'm in pain. All right, this is Diet Coke. It should have been milk.
Speaker 1:Yes, it should have been, but you went with Diet Coke. Question number four Okay, just two more. Okay, right, yeah, okay, if you could say one thing to one of your followers, just one thing to change their life, what?
Speaker 2:would it be? It's really horrible, oh, okay.
Speaker 1:I would say a lot like a really long sentence to give yourself Thanks. Yeah, Bro, you got veins. This is horrible.
Speaker 2:I don't think some people are going to last during this. Okay, you're there, so skip the line by aligning yourself with the right network. So when you start out in entrepreneurship, you'll see a bunch of people talking, realize very quickly who is the players, who is not. Aligned yourself well and provide. Give back to them based on fire. If you have another wet nap, I'd love you. Is that the full answer? Yeah, just, let me just do it. Come on, please. Are you ready to go? Yes, all right, thank you so much. I'm shaking.
Speaker 1:As the first ever guest of Real Estate Hot Takes. Do you regret this moment? You got to eat that.
Speaker 2:I'm sinking about the answer. No hold on Last one.
Speaker 1:Yeah, it's over Swallow that and it's over baby. You ever said that before.
Speaker 2:No, oh, don't worry, it's here. So do I regret it? No, no, I always believe that you should jump two feet in at every opportunity, and that's why I'm in oil and gas, crushed it, thanks buddy.
Speaker 1:All right, that's our first episode of Real Estate Hot Takes. Alex, you made it, even though the veins started popping out. I'm in pain. Yeah, if you guys like this, make sure to like the video and subscribe.