RJ Bates III

DON'T LET ONE TERMINATED DEAL CRUSH YOUR BUSINESS (OR YOUR SPIRIT)


Let me ask you a brutally honest question:


Are you the wholesaler who gets a property under contract, feels on top of the world, then has it terminate... and suddenly you're frozen in analysis paralysis?


Questioning if this business is even for you?


If that's you, this post might save your business.


THE TRUTH ABOUT TERMINATIONS:
Even the BEST wholesalers have a 30-35% termination rate. If you're doing virtual wholesaling, making offers sight unseen, terminations are not just possible—they're INEVITABLE.


But here's what you need to understand...


YOU'RE UPSET ABOUT THE WRONG THING:
You're not actually upset about the termination. You're upset about not getting the RESULT you needed (usually the money).


THE REAL PROBLEM:
Your business is relying on ONE transaction. This is like building a house on a single support beam - one strong wind and everything collapses.

THE SOLUTION? A DEAL PIPELINE


Your business should ALWAYS have properties in multiple stages:
Leads you've never reached
Follow-up leads
Properties under contract in due diligence
Properties in active disposition
Properties assigned waiting on closing
Properties closing this week


With this pipeline, when one deal terminates, it's a minor annoyance—not a business crisis.


IF YOU'RE BRAND NEW:


This is why I always recommend joint venturing with experienced wholesalers on your first few deals. Focus on acquisitions while they handle disposition and transaction coordination.


This maintains your momentum while you're learning.


THE EMOTIONAL RECOVERY PLAN


PERSPECTIVE CHECK: If I had told you upfront "30% of your deals will terminate," would you have quit before starting? Of course not. So why quit after experiencing exactly what you should expect?


IDENTIFY THE REAL ISSUE: A deal terminating because a seller lied about condition and won't renegotiate isn't a skill issue—it's just part of the business. What IS a skill issue is not having enough deals in your pipeline.


REMEMBER YOUR WHY: Would you really tell your family "Daddy/Mommy gave up on our financial freedom because one deal fell apart"? That sounds ridiculous when you put it like that, right?


SPORTS ANALOGY: When Houston lost the NCAA Championship after leading for all but 64 seconds, did their coach blame just the final play? No. The game wasn't lost in those final seconds - it was the culmination of many small moments.


The same applies to your deals. Don't obsess over the termination - look at your entire process.


THE BEST MEDICINE: The fastest way to get over a terminated deal isn't watching more YouTube videos or reading more Facebook posts. It's picking up the phone and calling another seller.


Every termination feels monumental in the moment...


But with enough volume and perspective, you'll eventually reach the point where your reaction to a terminated deal is simply: "That sucks. Next."


For a full video breakdown on this check out the video in the comments!

18 hours ago | [YT] | 19

RJ Bates III

12 DEAL-KILLING RED FLAGS EVERY WHOLESALER NEEDS TO KNOW


After thousands of deals, I've learned to spot trouble from a mile away.


Here are the red flags that should make you pause (or run):


1. SELLER WON'T GET ON THE PHONE
- I've closed hundreds of deals via text, but if someone REFUSES to talk by phone, it's often because they're not the actual owner
- Don't send contracts until you've verified ownership through conversation
- Always verify they know enough property details to prove ownership


2. THE DEAL SEEMS TOO EASY
- When a seller offers an incredible price but can't explain WHY they're selling at a discount, something's fishy
- No motivation usually means hidden problems (judgments, liens, tax issues)
- Be direct: "Why are you selling this property at such a good price?"


3. TITLE COMPANY MOVING TOO SLOWLY
- They don't care about your closing timeline like you do
- Transaction coordination is YOUR job, not theirs
- Stay on them daily or watch your deal evaporate


4. BUYER'S FUNDING EXPLANATION IS VAGUE
- "I'm using hard money" isn't enough
- Ask: Which lender? Gap funding? Private money that's already committed or needs to be raised?
- Don't assign to buyers who can't clearly explain their funding plan


5. SELLER SLOW-ROLLING PROPERTY ACCESS
- If they're delaying pictures or walkthroughs, firmly communicate that this affects the closing timeline
- No access = contract extension
- Remind them that reasonable access was agreed to in the contract


6. GHOSTING (FROM ANYONE)
- Whether it's seller, buyer, title company, or JV partner - ghosting kills deals faster than anything
- Don't be afraid to be "aggressive" in your follow-up
- Call, voicemail, AND text - make it impossible to ignore you


7. "JV PARTNERS" WITHOUT CONTRACTS
- When someone says "let's JV, just add your fee on top" but can't show you their contract with the seller? Run
- If they say "my partner has that information"? Daisy chain alert!
- Real partners have immediate access to all deal documents


8. ATTORNEYS GETTING INVOLVED
- Controversial take: attorneys are deal-killers in simple transactions
- When they start red-lining simple cash purchase agreements, prepare for delays
- Especially problematic in attorney states


9. CHANGING EMD AMOUNT OR CONTRACT LANGUAGE
- The buyer who says "$5K is too much EMD, can we do $1K?" is the same buyer who won't perform
- Stand firm on your contract terms
- Changes to contract language are usually to create exit ramps for the buyer


10. "BIG MAN ON THE BLOCK" PROPERTIES
- When a 2,000 sq ft house sits in a neighborhood of 1,200 sq ft homes, you'll have comp issues
- Watch for unpermitted additions or converted garages - major rehab headaches
- These properties often take longer to sell and for less than expected


11. SELLER GHOSTING
- Often happens because wholesalers don't maintain regular communication
- Always leave voicemails AND text follow-ups
- Keep the seller and title company warm with regular updates


12. TITLE HASN'T HEARD FROM THE BUYER'S LENDER
- Hard money lenders move FAST and contact title immediately
- If title says they haven't heard from the lender, your buyer is probably daisy-chaining your deal
- Check with title directly - don't just take the buyer's word for it


QUESTION: Which red flag has killed YOUR deals in the past? Drop a comment with your story, and let's see which one has cost the most wholesalers money!


For a full video breakdown on this check the link in the comments!

5 days ago | [YT] | 31

RJ Bates III

STOP CALLING BUYERS ASKING "WHAT'S YOUR BUY BOX?"


I've had this conversation time and time again and it drives me crazy every single time:


New Wholesaler: "Hi, I'm a wholesaler in [city]. Are you looking to buy properties?"
Buyer: "Yes, what do you have?"
New Wholesaler: "Well, nothing yet. Just wanted to know what your buy box is so I can find something for you."


STOP. THIS. SHIT. NOW.


Let me be brutally honest: This is fear-based stalling. You're not "building relationships" - you're avoiding the real work of talking to sellers and getting deals under contract.


Here's why this approach is killing your business:


BUYERS HATE IT You're literally telling them: "I'm going to waste your time with a call today so I can maybe, possibly, someday bring you a deal." As a buyer myself, I don't want to educate you - I want you to bring me deals.



IT'S COMPLETELY UNNECESSARY We have technology now! You can see exactly what properties any buyer has purchased, what they paid, how long they held them, and what they sold for. THAT'S THEIR BUY BOX.



YOU'RE LYING TO YOURSELF Let's be real - you'll lock up ANY decent deal you can find right now. You're not turning down good deals because they don't match some specific buyer's criteria. You're just creating busywork.


THE RIGHT APPROACH:


Get a property UNDER CONTRACT first



Use investor tools (Investor Lift, Investor Base, Deal Speed, Privy, PropStream) to see what buyers are active in that area



THEN call those buyers with a specific deal: "I have a 3/2, 1200sf in [zip code] for $100K, comps at $250K with $50K in repairs. You bought something similar on Main St last month - interested?"


We've scrapped our traditional "buyer list" entirely.


Instead, we treat every buyer in these platforms as potential customers. When we have a deal, we find the right match.


Your job is to provide EQUITY to buyers and SOLUTIONS to sellers. You can't do either by spending your day asking buyers about theoretical deals.


Want to know the easiest way to build buyer relationships? BRING THEM ACTUAL DEALS.


Stop the busywork. Stop the stalling. Pick up the phone, talk to sellers, get contracts signed, and THEN talk to buyers.


For a full video breakdown on this check the link in the comments below!

1 week ago | [YT] | 58

RJ Bates III

REAL TALK: IF YOU'RE STRUGGLING IN THIS BUSINESS, THIS IS FOR YOU


I'm fired up right now, and this post is for anyone who's stuck, frustrated, or ready to quit.


Let me tell you about Sergio in our TU community. Last month, he made $105,000 on THREE DEALS while his wife was 9 months pregnant.


Where were these deals? Not Beverly Hills or Miami Beach:


Fairbanks, ALASKA (basically the North Pole)
Rural IOWA (a town I can't even pronounce)
Charleston, WEST VIRGINIA (one of the worst states for wholesaling)


But here's what matters: When faced with problems, Sergio found SOLUTIONS:


In Alaska, the power was off and temperatures were negative. Pipes would freeze and destroy the property. His solution? He paid $1,000 in utility bills himself, coordinated movers, and covered storage for the seller.


In Iowa, the seller had been jerked around by another investor for months. His solution? He made 20+ cold calls to find the right buyer.


In West Virginia, a simple wholesale wasn't working. His solution? He converted to a novation to make it work.
Meanwhile, I talk to people EVERY DAY who tell me why they can't succeed:


"My market is too competitive"
"The leads aren't motivated"
"I don't have enough money for marketing"
"I'm not naturally good at sales"


STOP IT.


I wasn't born with natural sales skills. I wasn't given some magical ability to comp deals correctly. The only difference between success and failure in this business is this:


When I hit a wall, I said "F*** YOU" to failure and refused to let it keep me from the life I wanted.


We ALL have stories. We ALL have problems.


Your situation is not unique to only you.


I guarantee someone in a WORSE position than you right now will be in a BETTER position than you next year...unless you decide that's not happening.


REAL QUESTIONS FOR THE STRUGGLING WHOLESALER:


Are you constantly talking about your PROBLEMS or your SOLUTIONS?


If you're in a program like TU, are you actually using the resources? Where are your live call reviews? Where are your comp reviews? Where's your post asking for help?


Are you secretly hoping this business works instead of MAKING it work?


Have you slowed down your work when you should be speeding it up?


Remember this: If you've gotten 3 contracts and terminated all 3, that's normal for a beginner. Great wholesalers still terminate 30% of their deals.


The solution isn't to quit - it's to get 7 more contracts and close them all.


I've been where you are:


In 2014, I got my teeth kicked in on deals where my rehab calculator said $50K but buyers told me $125K
In 2020, I sat at this desk 8 hours a day calling sellers to rebuild
In 2023, we had to start over after destroying our operation to chase a TV show


Each time, I didn't blame circumstances. I focused on daily actions that would rebuild, one step at a time.


This business is HARD. It's LONELY. But nobody cares about your hopes or feelings sorry for yourself.


You need to pick up the phone 10x more than you think is necessary. You need to become obsessed with solving problems instead of highlighting them.


You CAN create your own reality in this business.


But it's going to take more than watching videos and "trying" - it requires DOING, FAILING, LEARNING, and DOING AGAIN.


If you're struggling, I want to hear from you in the comments.


But don't just tell me your problems - tell me your SOLUTIONS. What specific action are you taking today to change your situation?


I'm in your corner. But you have to fight.


To check out a full video I did on this check the comments below.

1 week ago | [YT] | 45

RJ Bates III

Ever thought to yourself… “man it feels like everyone is wholesaling?”


Well…


I’m here to set the record straight.


No. Not everyone is wholesaling.


And no it's not oversaturated - there is an enormous amount of money to be made (and I’ll be sharing stats on this in a moment).


What is happening is that you are in FB groups where all people talk about is wholesaling…


All the ads you see are gurus talking about wholesaling…


So it FEELS like “everyone is doing it.”


But the fact is - if you tapped on the shoulder of 100 people out on the street…


MAYBE 1 or 2 out of the 100 would even know what wholesaling is…


Let alone actively pursuing it.


Now let’s dive into some actual data behind this...


Distressed properties are everywhere:


322,000 foreclosure filings in 2023.
That's 322,000 potential deals!
1.28 MILLION vacant houses need repairs.
Who's gonna help those owners?



Financial stress is through the roof:


$1.13 TRILLION in credit card debt. (Yes, trillion with a T)


People need solutions.


Wholesalers provide them.



Your competition?


Definitely not as good as you’d think


Most "wholesalers" give up quickly. Consistency wins.


In 10+ years of wholesaling, how often do I run into other wholesalers? Rarely.


Here's the truth: The market doesn't have too many wholesalers. It has too few GOOD wholesalers.


If you FEEL like wholesaling is oversaturated…


Then pay attention to what FB groups you are in / ads you see and remember that the majority of people have no idea what wholesaling even is.


And IMPROVE YOUR MARKETING.


If you are constantly calling on the same lists that everyone else pulls…


Of course it will feel like it's saturated.


(This is why I love PPL so much… Gets straight to the motivated sellers.)


It’s my belief that we are in the GOLDEN age of wholesaling…


There will be so much opportunity ahead with the current issues in the US and those who go all in and stay focused…


Will be able to CRUSH it moving forward!


To check out a full video breakdown on my YT click link in comments below:


And btw let me know your thoughts on if wholesaling is oversaturated!

2 weeks ago | [YT] | 37

RJ Bates III

One of the most important frameworks I’ve ever discovered is that every seller we speak with can be immediately placed into 1 of 4 different “buckets.”



And depending on which bucket we place the seller in…



We then are able to effectively decide what path we want to take on the phone.



Not understanding these buckets will cause you to waste enormous amounts of time on the wrong types of sellers…



And IF you do understand these buckets… and properly adjust your strategy on the phone you WILL close more deals.



What are the buckets?



Bucket 1: Motivation is Low, Price is Right



This very rarely happens
More often than not there is an underlying motivation
Less than 1% of the people you will talk to
If they’re lacking motivation yet want to give you an amazing price…dig deeper.
We don’t want to take advantage of people OR have them get buyer’s remorse.



Bucket 2: Motivation is High, Price is Right



While this is the ideal scenario…
It is also rare.
When this happens and a seller’s asking price is where you need to be… Don’t beat around the bush and talk yourself out of a deal.
Lock it up.



Bucket 3: Motivation is High Price is High (THIS BUCKET IS THE KEY TO THE GAME)



Most common seller
The property is physical distress or there’s financial distress but they want to get the zillow price
This almost always comes down to a lack of education… On things like repair costs/closing costs/the fact that as investors we need to make a profit.
This is where education and sharing the MATH behind how you got to your price becomes critical.
Sellers often start with their prices high… And if you utilize the King Closer’s Formula will end up price dropping throughout the conversation
Being able to navigate these types of sellers is where the $$$ is made.



Bucket 4: Motivation is Low Price is High



These folks want full market value for their home.
Often have either a newer home or recently remodeled and either a) want to avoid realtor fees or b) had trouble selling on MLS at a high price
We want to pull away from these sellers and let them know we likely aren’t the best fit and move on…
*If they pull back after we say we aren’t a good fit… Dig deeper. There might be a hidden motivation they aren’t disclosing.
Embrace no and move on



I share this framework with you as it’s made my process of talking to sellers WAY easier…



I can find out within the first 3 mins what bucket they are in and decide where I want to direct the conversation based on who I am talking to.



For some quick notes on the buckets…



Bucket number 3 is BY FAR the most common bucket - and is also the one that is the most important to understand how to navigate to truly make money in this business.



Educating the seller down on price is CRITICAL.



Bucket number 4 is where I see an enormous amount of time wasted everyday with people trying to manufacture deals… The facts are if the motivation is not there… and the price is high… Its incredibly unlikely for us to get a deal.



That said I highly recommend you start using this framework on your calls and watch what happens!



If you want to check out a full in depth video I shot on this check the comments.

2 weeks ago | [YT] | 37

RJ Bates III

One of the most important reasons I am able to close deals so effectively and efficiently over the phone is…





I am able to comp/underwrite the deal WHILE on the phone with the seller.





This is one of the core skills needed to truly master the Closer’s Formula.





Recently, I went live on YouTube doing a full blown analysis/deal breakdown of one of my live seller calls.





Not only did I break down my own call from a sales perspective…





I also shared what I was looking at BEHIND the scenes while on the call.





This includes the comps.

Underwriting the property.

And sharing details on what I am thinking/doing WHILE on the phone with a seller.





Click the link in the comments to checkout the video

2 weeks ago | [YT] | 27

RJ Bates III

Every day I see comments like "Is Investor Base worth it?" or "Should I switch from PropStream to Privy?" Here's the truth nobody wants to hear:


It. Doesn't. Matter.


What matters is mastering whatever tool you're using.


A $2000 hammer doesn't make you a better carpenter than a $20 one.


Same goes for wholesaling software.


Let me be brutally honest: Your software isn't the problem. YOU are.


Here's what we actually do in our business:


PPL LEAD GENERATION: We use multiple platforms because we've mastered each one for different purposes:
• Speed Leads Coupon Club? Yeah, the leads are cheaper and older. But we know exactly which motivation types to cherry-pick there.
• Lead Zolo/Property Leads? We approach these differently because they're fresher leads.
Don't just blindly buy every lead. That's how your cost per contract skyrockets.


COMPING SOFTWARE: I started with PropStream. Added Privy later because I liked specific features for cash buyers.
But here's the thing - I didn't add Privy until I'd completely mastered PropStream first.


DISPO PLATFORMS: When people argue whether "Investor Base is just Investor Lift's God Mode," it tells me one thing:
They haven't mastered either platform.
The real experts know Investor Base has skip tracing that hits different than Investor Lift.
They know certain buyers only exist on one platform.
They know the nuances because they stopped platform-hopping long enough to learn.


THE 90-DAY RULE: If you commit to paying for software, give it 90 DAYS minimum. Free trials are fine for testing, but once money leaves your account, shut up and learn the damn software.


What to actually use:


LEAD GENERATION: Pick ONE.


• Broke? Speed to Lead Coupon Club.
• Got cash? Ispeed Fixed Price, Lead Zolo or Property Leads.


COMPING: Pick ONE.
• Non-disclosure state? Probably Privy.
• Normal market? PropStream is fine.


DISPO: Pick ONE based on your budget.
• Free Investor Lift works but you'll pay to blast deals.
• Want all-in-one? Deal Speed or Investor Base.


THE HARD TRUTH: When deals fall apart, 99% of the time it's because:


You suck at talking to sellers
Your comping and underwriting is off
Your follow-up is non-existent


Every time I see someone blame their software then jump to the next shiny subscription, I know they're avoiding the real work: developing actual skills.


Our business doesn't succeed because we have the "best" software. We succeed because we've mastered the tools we use and developed the skills that actually matter.


Want to see a full video breakdown on this concept - click the link in the comments below!

3 weeks ago | [YT] | 42

RJ Bates III

Want to know the single most important question in wholesaling…



……….



DRUMROLL:
"How much do you want for the property?"



As those of you familiar with the Closer’s Formula know…



This is the 2nd question I ask a seller everytime I get on the phone…



Right after I confirm that the person I am talking to wants to sell the property.



What’s insane to me is that almost all of the scripts I have ever seen wait until you have like a 15-20 minute conversation before asking this question…



Talk about a massive potential waste of time.



Here's why this needs to be your second question (right after "Do you want to sell?"):



1. It instantly reveals:

Seller motivation
How savvy they are
Which seller bucket they fall into (right price/motivated, wrong price/motivated, retail/unmotivated etc)



2. It saves massive time:

Avoid 15 minutes of pointless rapport building
Quickly identify unmotivated sellers and gives you the ability to embrace no
Get their price before they get comfortable with a higher number



3. It sets you apart:

Every other wholesaler asks price last
Sellers respect direct, professional buyers
You look different from the "let me check with my partner" crowd



Real example: "How much do you want for it?"



"$20,000. It's vacant, needs full rehab, I just want to be done with it."



That's a deal you'd miss if you spent 15 minutes asking about the roof condition first and wasting their time.



If the price they say IS too high…



Now you've got the whole conversation to educate them down and you know exactly what you’re up against.



If it's reasonable, you can close fast.



If it's retail with no motivation, you move on.



That said…



Don’t just take my word for it…



Test this in your seller calls.



Watch how the conversation shifts.



And I think you’ll find that you’ll close more deals.

3 weeks ago | [YT] | 31

RJ Bates III

$80,000 HAWAII WHOLESALE DEAL: PATIENCE, NEGOTIATION & REFERRALS

We closed a deal on the island of Oahu that netted $80K.

Here's the full breakdown of how it happened:

THE DEAL SNAPSHOT:

Property: Physically distressed house in Hawaii (Oahu)

Situation: Inherited property with belongings and two cars still inside

Sellers lived in North Carolina (property across the country)

Lead Source: 100% referral from a neighbor

THE LEAD STORY: This property came through a pure referral. My partner's neighbor in Hawaii saw the heirs (who lived in North Carolina) walking around their late father's property.

The neighbor struck up a conversation, learned they inherited the place and were unsure what to do with it, and connected us.

THE ACQUISITION JOURNEY:

Initial offer: $650K for the house and both cars
The sellers ghosted us for 60 DAYS (complete silence)

After 2 months, they suddenly resurfaced asking if the offer was still good

Market analysis showed values had softened, so I reduced offer to $600K

Added a 24-hour response window (critical after being ghosted)

Sellers countered, insisting on original $650K price

Held firm at $600K with clear market explanation

Sellers countered at $625K

Accepted at $625K, contract signed immediately

THE DISPOSITION:

Had already walked the property with our buyer's contractor before contract

Buyer was waiting at $675K (no marketing needed)
Sent assignment contract showing the $50K spread (no double close)

BONUS: We took the two vehicles and sold them for $30K

THE VALUABLE TAKEAWAYS:

Referrals happen when you're LOUD about what you do. Talk constantly about your business to friends, family, and on social media.


When sellers ghost you, be prepared to adjust your numbers based on current market conditions, not your original offer.


Create urgency with clear timelines when dealing with indecisive sellers.


End buyer relationships eliminate the need for mass marketing or hiding your fee - our buyer knew exactly what we were making.


Don't overlook additional value in deals (the cars added $30K to our profit).


This was truly a win-win-win: Sellers got $625K and relief from a distressed property across the country, we earned $80K, and our buyer got a profitable flip in a great location.

Want to see a full video breakdown of the deal check the link in comments below!

3 weeks ago | [YT] | 32