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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 Tadi
Join Tadi Tedemet and RJ Bates III in this episode of Real Estate Hot Takes as Tadi 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 RJ Bates and this is who are you.
Speaker 2:Hot Toddy.
Speaker 1:That was good. You're coming right out of the gate. Yeah, buddy, alright. So here's the rules. Alright, I'm going to ask you a question. You've got to eat a wing, just a bite, okay, okay, don't kill yourself. Don't be like Will Dennis. He ate the whole thing. It was insane. He literally threw up over there. Really yeah, one bite. Then you answer Okay. The longer you answer, the longer of a break you have in between bites. Alright, you ready? Oh, yeah, I'm scared. How'd you get started into virtual wholesaling? Bite first, yep, bite first. What is that? Nah, bro, come on. Yeah, there you go Get your song. That's what I'm talking about. Yeah, now you go feel that.
Speaker 2:So wow, okay. So originally, originally I started virtually wholesaling because I got laid off my waitressing job in Vegas. My back was against the wall. I got on YouTube University and you know, saw a lot of people like RJ and everybody and got a dialer. I got a dialer a list of about 1,200 people called that 10 hours a day two weeks straight. For Vegas. Got nothing. Chose a virtual market in Ohio. Called that for three days.
Speaker 1:And on day three did it get hotter later, yeah, it gets hotter.
Speaker 2:Then I started a virtual market in Ohio. On day three I got my first deal Six deals. My first month 38K and that was my first month in virtual wholesaling. First month was one of the best months. Not going to lie but doing it all by myself has been like four years now. Two years ago got a team you ready.
Speaker 1:Yeah, you just keep talking. It's like you don't want to eat anymore. Is there milk? Nope, no milk. We're not that show. All right, ready. Question number two I just got to see you speak for the first time at an event and I was blown away by one of your answers, so I want you to give it to our audience. How do you choose a virtual market?
Speaker 2:Oh, that's good. This is a long one. Yeah, you're welcome, oh man, all right, no, no, no, what are you?
Speaker 1:doing. You got to get a new one. Oh, a new one. Yeah, yeah, fresh, because it gets hotter. I'm trying to get in there. I love that you like buzzsawed in there.
Speaker 2:What are you trying to do? I'm trying to get more chicken than skin.
Speaker 2:I feel like the sauce is on the skin, if I can get deep into it. Yeah, that was a unique bite. It was a unique bite. So picking a virtual market, after picking over 12 and failing really bad in some of them, I realized what makes a virtual market good just statistically, so you can cut out the BS and then at least have some good, viable markets to choose from. Number one population at least 300,000 and up to a million, but you can go, you know, a little bit. Uh, cash buyer count at least five to 10% of the population. Uh is really important, cause if you don't have buyers who you're going to sell the deals to? Uh, you don't want to be in any markets where Zillow and Opendoor are giving home offers right when you type an address in on the internet, because why would a seller go with your low ball price when they could just go with a way higher, unrealistic price from zillow and oh, what was it? The?
Speaker 2:um, the population 300k to a million I said that it's hard to think when your mouth is burning.
Speaker 1:We can just move on. You don't have another answer.
Speaker 2:Oh days on market. Between 30 and 60 days on market, not too low and not too high.
Speaker 1:Guys, this is the hottest wings in Tampa. I mean, honestly, I'm impressed that she even remembered any of that.
Speaker 2:Okay, Another fresh wing.
Speaker 1:Yeah, but you're going to have to get another fresh one. Okay, so we're in Vegas. We decide we're going to virtually wholesale in Ohio. One of my most frequently asked questions is how do I get pictures of the properties? How do I have showings? How do I get lot boxes? How do I do all these things from Vegas and Cleveland Ohio?
Speaker 2:Good question.
Speaker 1:You excited.
Speaker 2:Trying to be strategic.
Speaker 1:Like choosing a virtual market. They're strategic. Come on, yep, you're really going with the buzzsaw method.
Speaker 2:It worked, if you get in there you get more chicken and it dilutes the You're the first one that's gone side to side like that.
Speaker 1:It's impressive.
Speaker 2:So my strategy is always trying to find the path of least resistance, like with these wings. You gotta like, look at it, figure it out, right? So when you want pictures of a house and you want to know you know the condition of the house, most people think, oh, I should just send a real estate agent or somebody who knows about real estate. That's a bad idea, because if you send a real estate agent or another wholesaler, they're just going to want to in on the deal when they don't really need in on the deal. You just need pictures, right. So I go on Craigslist, I go on labor and gigs and then I post in the gigs. I can pay $50 to anyone to just take some pictures and usually I'll just get like retired contractors, people like that who know about houses enough to tell you what's going on with the street, the neighborhood, the tenants, everything like that. But they'll take the $50 and they won't want part of the deal.
Speaker 1:What At one point you just started moving this hand like this Is your hand hot.
Speaker 2:I don't know if this is helping. I feel like I'm cooling my tongue down right now.
Speaker 1:Yeah, okay, so fourth question, All right, fourth, yeah, fourth question Can I wipe it? No, no, no, that's cheating, okay. Fourth question Okay, you and I competed against each other in the 2023 Closers Olympics. Of course, you lost. It's okay, you're one of many, so don't feel bad. But apparently you told me you wrote a rap if you had beaten me. Is this true?
Speaker 2:I wrote a rap for when I beat you, okay.
Speaker 1:When you beat me, will you sing the rap to me right now, after eating the wing? Let me see it's for the content I can remember for sure is this the rap?
Speaker 2:no, no, I can remember for sure, like the last couple lines. Okay, I can't remember the whole rap, that's fine, but I got you all right. Oh man, sure, is this the rap? No, no, no, I can remember for sure, like the last couple lines. Okay, I can't remember the whole rap, that's fine, but I got you All right.
Speaker 1:Oh man, y'all don't know how hard this is actually way harder than it looks. I'm Ethiopian. I eat spicy food every day.
Speaker 2:It's probably harder to write. I didn't even practice. You had 50 days of practice, okay.
Speaker 1:I just wanted you to know. There have been other people that have come on here and not struggled at all.
Speaker 2:On the wings.
Speaker 1:Yeah, and they weren't Ethiopian.
Speaker 2:I know Apparently they didn't have nerve endings though. I don't know who could eat this without freaking their lips.
Speaker 1:Christina Krause didn't have nerve endings, though I don't know who could eat this without freaking. Their lips are. Christina kraus didn't have nerve endings. She cheated. She didn't let christina kraus yeah, what?
Speaker 2:yeah, she just her little self ate these. She just came in and just ate them.
Speaker 1:And then we found out she doesn't have nerves, that's not fair yeah she cheated. She can't feel you didn't? You didn't buzz on that one. It's good. Oh, my god Are you having a reaction right now.
Speaker 2:It's hot, it's just spicy. All right, I got the last two lines. There's some more. I can't remember them now. It's like my everything's sweating Yo, this is crazy. Ok, I really can't remember, okay. So so the premise of it was that I came on your podcast and you were talking to me about, you know, being a newbie and all that.
Speaker 1:Right, I don't know if I said newbie.
Speaker 2:It was. I mean not newbie, but you were talking about you know the newness on the podcast. So that was the premise of this rap Sing it to the people, so that was the premise of this rap. Sing it to the people. The last little piece of it was it was supposed to be Losing to a newbie. I don't know how that felt, rj. Bates come up off of that belt. That was good. That was good.
Speaker 1:That was the ending but I'll have to save it for another year. All right, all right, you ready. Last one. Okay, one more bite you said four.
Speaker 2:Now it's five. Huh, it's always been five. There's five things, okay, okay.
Speaker 1:Okay, all right, here we go. Last question If you could change your followers' lives with one thing, what would it be?
Speaker 2:What would you say?
Speaker 1:to your followers that changed their lives. You got that long to think about it. Some say the fifth is the worst.
Speaker 2:I think I'm going to go with the buzzsaw thing.
Speaker 1:That was way better. Yeah, the last one I thought you might have. I thought you were about to give up. I was way better.
Speaker 2:Yeah, the last one. I thought you might. I thought you were about to give up. I was yeah, I can't give up. See, you made it. You know what? Tell you guys one thing that's what it's going to be. Do it and don't give up. Do it till it's done. Don't try Delete, try and just do it.
Speaker 1:The untry. I like it. You crushed it. Good job. Milk Is your last name, actual, virtual.
Speaker 2:I'm changing it legally.
Speaker 1:No, all right guys, this is Tati virtual. I'm RJ May. Hey, give Tati a shout out. Okay, she didn't have to do this. She came up here, she crushed it. Even though she says she's Ethiopian, she can handle spice. You probably handled it worse than anyone else, but hey, make sure you like this video. Give us a subscribe.
Speaker 2:We'll see you guys next time. Woo, that was.