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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 Jesus Toledo
Join Jesus Toledo and RJ Bates III in this episode of Real Estate Hot Takes as Jesus answers five different questions while attempting to eat the hottest buffalo wings in Tampa, Florida. Enjoy the laughs and hopefully enjoy the interview!
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Hey guys, welcome to Real Estate Hot Takes. I'm your host, rj Basin-Thurton. Today I'm with my friend Jesus, who doesn't like anything spicy, so I said you're going to come on Real Estate Hot Takes, all right? Hey, this is going to be fun, all right, here's the rules. I ask you a question, you have to take a bite of a wing, just one bite, okay, and then you can answer okay, I'll try. So how do you help people? This is question one. Okay, you ready, I'm ready. How do you help people in real estate investing?
Speaker 2:Oof, let's take this yeah.
Speaker 1:Whoop gang Ooh. You just barely touched your mouth and you're already. Oh man, I told you, I told you, I don't do spice. I I told you, I told you, I don't do spice. Oh man, wings three and four are going to be hard for you, it will. So how do we help people in real estate?
Speaker 2:It's hard.
Speaker 1:Yes, it is.
Speaker 2:We provide the best list for motivated sellers. We predict what the seller is more likely to sell at a discount, and then we help them with how often they should engage with them to maximize return on investment.
Speaker 1:Okay, all right. So question number two I've known you for seven years now 2008. So a long time, long time. Okay, when you got started, you guys were super into like these niche lists, county data. Is this where this came from? Where it was like, hey, hey, your own experience in wholesaling and now you've turned it into something that you could do all across the country. Yeah, I was good.
Speaker 2:Yeah, you wanted it to be small for the record record. I did not want to come. I love our guys. That's why I'm here. Ooh, so funny story.
Speaker 2:We started investing in 2017. We hired Gary Harper in 2018. And we were doing all this data and album marketing for our own company. Gary came around two quarters in a row. Second time he came he looked at us and said you guys have the best data and outbound marketing process that I've ever seen and he coached thousands of people. Right, this is hard. And he was actually the person who really pushed us him and Susan to say go offer this to the marketplace. It's going to be a place for it.
Speaker 2:So we started off like really really pulling data from the sources and stacking and doing everything. We created a weighted stacking back then and I had an electrical engineer background, so started hiring some engineers and getting more sophisticated about it. And now we predict. We have machine learning, ai, predictability. There's a bunch of stuff that we do to help predict. That's how I was more motivated. But yeah, we started for us. We built this for us. Somebody saw it from the outside and said that we had a really good process and and and built out and he he pushed us to start I'm not gonna lie, man.
Speaker 1:When I used to hear you guys do y'all's hot seat presentations at investor fuel, like you used to wear me out, like just with the your thought process and how deep it was that you guys would get into this. So question three Okay, all right. When you say we tell you how often you should reach out to a motivated seller, we're talking about this is through direct mail, cold calling, texting, these different methods. I mean, is this something that we're talking about? Over the course of two months, six months, years, how deep are we really getting into this? Analytics and tracking down motivated sellers I have a tiny one. I can do better.
Speaker 2:I can do better.
Speaker 1:Yeah.
Speaker 2:I can't feel my lips. I mean, if that was an 80-20 bite.
Speaker 1:That was the 20.
Speaker 2:That was the 20 for sure.
Speaker 2:So when we started, we did data taxing and cold calling as a white glove service for other investors. What that allows us to do is to learn a lot, from pairing data points to responses to leads, to qualified leads, because we would go all as far as qualified leads for our clients. We stopped doing that two and a half years ago now. The data I mean the cold calling we pivoted 100% to data. But those years of doing that really allowed us to understand how often and what do we do is. We give you a list every single month for each one of those channels and then we give you a blueprint on okay, take this list for cold calling. It has three tiers of data. We have a super high urgency, a medium urgency and a lower urgency tier. And the super high urgency we say go target them three times a day for 10 days in a row and that list that we ask our clients to send the data back.
Speaker 2:So we create a feedback loop, so we continue learning and continue improving. Every month, you get a new list of new people, not we create a feedback loop, so we continue learning and continue improving. Every month, you get a new list of new people. Not always these new people. There's obviously some overlap, right, they start repeating over time, but that is allowed, so it's evergreen. So we're always refreshing Every month. We're refreshing all three lists for you to engage with them strategically.
Speaker 1:Okay. So question four Okay, yeah, it's coming All right. Okay. So question four no, yeah, it's coming All right. There's so many services out there like PropStream, batch, Leads, listsource, right, readily available, so I go, I can just pull a list today, I can reach out and I can market to it today. What's the difference between you and that service?
Speaker 2:Great question Do I have to buy it right?
Speaker 1:Yeah, there you. You go. Not loving this dinner's gonna be fun yeah, not spicy, for sure how are we different in many ways?
Speaker 2:um, I think if you're starting your real estate career, you don't need us. We usually work with the guys who are doing 50 plus deals a year. We work with some of the top investors and usually the localized investor. What I mean by that is a guy who knows their market really well and wants to optimize the resources right. So instead of sending getting a deal every 10 000 postcards or 10 000 letters, we help them get less than that. Usually we improve 25, 30. That's usually what we help improve. We have improved some some people's marketing budgets and return of investment much higher numbers, but usually that's what we do right.
Speaker 2:So we're tailored for the guys who are looking to maximize their return of investment, not get a deal. If you want to get a deal, you can go all of those services, pull a list absentee list and just go at it and you will get deals. But once you get to a certain point you want to start looking at if I put a dollar here, how much am I going to get back? Can I scale that? Because that's another thing that we help our users with is if I tell you, here's $1,000 with 10x return, that sounds great, right, but it's 10x, so it's $10,000 return out of 1,000. What if I told you you can spend $100,000 and get a 4x $400,000 back? Which one do you prefer? I'll take the $400,000. That's what we do. Yeah, right, we help them get to that and maximize their budget as much as we can.
Speaker 1:Makes sense, all right, last question, I'll pass.
Speaker 2:No, you can't quit.
Speaker 1:You can't quit. All right, You're the lead gen guy. Right, You're all about lead gen. I'm the closer, Ooh the combo. So what's more important lead gen or closing skills? I'll pass you gotta answer.
Speaker 2:Sales 100%.
Speaker 1:That's more important than lead gen.
Speaker 2:Business is 100% sales man.
Speaker 1:This is hilarious. You know what I tell people? Lead gen Interesting You're selling yourself short by now.
Speaker 2:Here's the reason why 100% self-serve this is hilarious. You know what I tell people? Lead gen, lead gen, interesting. Yeah, I mean, listen, you're selling yourself short right now.
Speaker 1:No, here's the reason why Because with quality lead gen, anybody can close True. So at the end of the day, if I don't have any leads, I'm nothing.
Speaker 2:So let me rephrase that no, as a business owner, as a real estate investor, as a business owner of a real estate investor, you can outsource lead gen. You cannot outsource sales. I don't believe that's a good strategy, but all I said If you focus your business in being a well oiled machine around sales, you're going to get good results because you can buy leads elsewhere.
Speaker 1:I follow your train of thought. My train of thought is if you don't have leads, if I don't have leads, you can't sell. My skill cannot be used Right, but if I have leads, then even with subpar closing skills.
Speaker 2:I can generate revenue. No, a hundred percent. No, and you're right, man, but sales is the most important one.
Speaker 1:You made it. I'll take the credit. You're right. Thank you, brother. All right, guys, give Jesus a shout out. Make sure you like this video and subscribe, and we'll see you guys next time on Real. Estate Hot Takes. Thank you,