The Titanium Vault hosted by RJ Bates III

Eli Rose: Wholesaling for Financial Freedom

February 06, 2020 Episode 111
The Titanium Vault hosted by RJ Bates III
Eli Rose: Wholesaling for Financial Freedom
Chapters
The Titanium Vault hosted by RJ Bates III
Eli Rose: Wholesaling for Financial Freedom
Feb 06, 2020 Episode 111
Eli Rose

Eli Rose is a real estate investor who primarily focuses on wholesaling in Atlanta, Georgia. In this interview, Eli and RJ go into detail on cold calling, SMS marketing and the cyclical nature of being a solopreneur. Eli also shares how he made the decision to completely change his entire team at the end of 2019 after hiring a real estate investing coach. Remember, if you love the format of these episodes we don't know unless you leave us a 5 star review and click that subscribe button!

For the best Skip Tracing in the industry go to https://titaniumtrace.com/home

To join the #1 Online Real Estate Mastermind visit https://nextlevelflipping.com/

For more video content from Titanium Investments subscribe at http://www.youtube.com/c/RJBatesIII

Connect with Titanium Investments at https://www.facebook.com/titaniuminvestments/

Show Notes Transcript

Eli Rose is a real estate investor who primarily focuses on wholesaling in Atlanta, Georgia. In this interview, Eli and RJ go into detail on cold calling, SMS marketing and the cyclical nature of being a solopreneur. Eli also shares how he made the decision to completely change his entire team at the end of 2019 after hiring a real estate investing coach. Remember, if you love the format of these episodes we don't know unless you leave us a 5 star review and click that subscribe button!

For the best Skip Tracing in the industry go to https://titaniumtrace.com/home

To join the #1 Online Real Estate Mastermind visit https://nextlevelflipping.com/

For more video content from Titanium Investments subscribe at http://www.youtube.com/c/RJBatesIII

Connect with Titanium Investments at https://www.facebook.com/titaniuminvestments/

spk_0:
00:01
It's not real estate investors, entrepreneurs and agents. You're in the right place. Unlocking the secrets to real estate investing in entrepreneurship. Welcome to the Times Young vaults hosted by R. J. Bates The third years.
spk_1:
00:25
Hey, guys, Welcome to the titanium vault. I'm your host, R J. Bates. Today I'm sitting down my good friend, Eli Rose. How you doing, man? So, uh, I met you, and next level flipping were both, you know, part of next autumn flipping. And I'm excited to be able to talk to you about your company and also kind of your experience within next level flipping as well for the people that don't know who you are. Could you briefly kind of tell us what it is that you do in real estate investing?
spk_0:
00:53
Yeah, sure thing. So I got into your old ST investing full time Started 2018. I started primarily is in Egypt. I put up with a large still flipper and I was listing his flips, Learned about holes. I do. So prior really started getting in a little selling when I was working with him. And a big transition my business over from traditional stuff too. A little selling now primarily also do simple cells every now and then a hookah bar. Well,
spk_1:
01:28
I got you. So let's talk about that transition from being like a realtor to now being a full time investor. What was that transition like for you?
spk_0:
01:38
It was easy, man. So I was never be Quote a traditional realtor of the guy. I basically have one fly in the sky like that was flipping 100 houses a year, and I was helping him find deals. I was helping him with the slips I was getting big into this production process is just how he found Jill's networking of the Butthole Sellers. You work with it? It wasn't crazy transition. I've actually never done a tradition. We'll see.
spk_1:
02:07
So you were basically wholesaling deals without even knowing are getting the whole selfie. You were just kind of doing as an agent along the way for this one client, right?
spk_0:
02:18
Yeah, I got a taste of bigger pockets in the corporate world, and that's what led me in a real state. Was the whole selling piece. So I was babbling, and I'm also a little here and there, but essentially offices. He was my plan. He was all of this. So I was getting fuel cells. My primary revenue for the first part of my full time first. Well, that miracle states problems.
spk_1:
02:43
So once you made the transition, the wholesaling talk about, you know, did you start off a CZ like a one man show or did you have a team? Did you have a partner? Would that look like
spk_0:
02:53
Yeah. So I started off as a one man show. Direct mail was only marketing channel. I was setting up The middle piece is getting the list running the appointments, doing dispositions, everything that we've got out of that only last is a woman's shoe for probably eight or nine months before our first positions manager. And that our aviation, they're hurtful out.
spk_1:
03:18
What made you choose the right male is your first marketing piece.
spk_0:
03:23
You mean it is what was primarily moving on the podcast. It seemed like write those passes away to get into an expressionist. Oh, when I saw that, I could send out the direct mail higher call center and then fool also kind of,
spk_1:
03:37
you know, But it's funny. You say that everybody talks about it. It's because It's still a great marketing technique, you know? I mean, it works and there's a lot of other ways that you can do it. You could do it more efficiently and more affordably. Now, with things like SMS cold calling. Bring this voice mail stuff like that. But, um, across the board, any time that I interview anyone that's doing a large amount of all you threat mail is though, a piece of their marketing tactics. Um, now, today, what's your main former marketing
spk_0:
04:13
primary school calling her? Excuse me, Primary SMS. And then we follow that semester. Local calling. So where are you going to marketing channels right now,
spk_1:
04:23
Are you? When you send the SMS, are you scrubbing that list? And then that's why you're cold. Call Liam after
spk_0:
04:30
yes, way hit the moules with SMS and we don't get a response. We don't get a response from We put those numbers around the collar plate and we also spread the landlines out. Have uncle caller. All he knows is this gold, gold mines
spk_1:
04:46
and as far as SMS coz you know, are you hitting specific list or you hitting that with a really broad list? You know I I know some people they like to get really niche and in trying to stack it. And some people are of the mind set like, Hey, I want to hit as many people as possible. What are you doing with your
spk_0:
05:07
list there? So transitioning stacked list Back in when I was direct mail, I was pretty much all staff. I never really brought right. I fear I was extremely brought my son s so it was asked to hold and I wanna rock. I'm currently incorporating staff lists back into it. I just gotta work athletes, Doctor, which is awesome Make about lying. But currently, right now, we're pretty broad, was it? But again, I intend to stop their table or,
spk_1:
05:41
you know, and I don't think there's a right or wrong answer to that question. You know, I see people that are successful with hitting both. You know, some people, it's it's all about the efficiency and the size of their team and the manpower that they have said their super niche and they could they could almost do the same kind of volume as the people that are hitting these broad list at times, and I think it just comes down to, like, personality and whether or not you can kind of digest the people they're like, Why are you calling me? You know, you know why he texted me. That's what you're going to get a lot from the broad list. You know, if you're super niche, you're just gonna get a lot of, you know, people that are super motivated. And then it kind of comes down to your problem solving skills like, Are you really able to solve their issues? And what tools do you have in your tool belt? So as faras, the wholesaling goes, um, you know, you're doing as a mess. You're doing cold calling. What kind of volume does that look like? Right now, as far as deals that you're doing either per week or per month,
spk_0:
06:44
Yes, right now, it's an interesting period for me. So end of November of last year, our whole team go way rebuilt from scratch. So I recently hired said in January our acquisitions manager and a lot of support in T. And right now we have by those under contract too, with the Batu under contract with an Empire and the other three were crimes. He pulls All right. Now, if you look at it, I guess for week basis we're rock and roller. But I did not step out of the gate. I'm not employing guy. Last year I did, uh, sleeping. One deals. I'm more of a higher marks. And Lord boy. So we did 21 bills last year in our first round was switch a little bit more towards Oh, I did it. I only not. Teeth will allow me to have more than myself. Okay, take the smaller details that I love in the past. But last year, well, I've never been and never really had the intention to be a huge company, right? I was still a mindset like last year.
spk_1:
07:51
What market are you in? Atlanta. So that's pretty competitive market, right? Yes. Is Yeah, So does that. Is that kind of play into the volume side of things where you're like, Hey, we're just going to go out for these higher margin properties and just be better at this. And instead of trying to compete and get a bunch of lower assignment fees,
spk_0:
08:14
Not really. It's just my mindset. Personally, I'm a pretty ways got less work to make, more money that's gone out looking like a business out of it. I don't want to kill myself and you see people all the time and I do want her bills you have lunch off with like, but I have no desire to have a business like that, so it's just more with mindset.
spk_1:
08:38
So you talked about having a Lego of your team. You can, eh mind sharing some of those details as to why you had to do that without getting too specific, cause I don't want share people's personal information. But I think it's important to show that cause you know, we've had turnover a swell. And sometimes people are afraid to change team members because either have a sense of loyalty or the fear that, hey, this is going to cripple the business. And so instead of making the necessary changes, they just kind of live with the downside of whatever the issues are. So you want to share some of those details with us?
spk_0:
09:15
Yeah, no problem at all. Take 100% ownership of it. It was have any business that when I have a business, but I didn't have a business. I didn't have the £4. I didn't have a culture of guilt. I didn't have any type of operating system. Yeah, I hooked up with. I got I got a real state coach and part of this implementation. It is us who? Entrepreneurial operating system. So what's the deal with us? And I didn't really have the structure that I needed. And the personality differences for my teammates in the past. Just a cultural differences. I've been a little business like I want it, but it didn't hit me. I just threw a bunch of people as quickly as I could to get Steph layers of the weeds. And by the grace of God, I converted bills, had a year, and I really, really, really, really. And it was a hard decision, but I literally let everybody go.
spk_1:
10:18
So it sounds to me and and I'm just gonna take a wild guess. Is your real estate coach Gary Harper?
spk_0:
10:25
No, it's not very, very good. Implementation for the stuffing Is Joe Dylan? Yeah,
spk_1:
10:31
the reason why, just because of some of the things you said there, I mean, it sounds just like something Gary Harper would come in and, you know, implement within someone's company. Um, you know, it's important to understand that, like, core values and really understand the importance of that, and sometimes it's hard when you're first getting started. That doesn't seem like a priority. And so what I've seen with through my experience of interviewing people and getting no different people's companies is that a lot of times they get started and they get to a certain level of success, and then they kind of stall out, and then they have to look back and say, What is it gonna take for us to continue to grow? And then that's where they look at inside. Well, we don't have core values. You don't have systems and processes like we don't have any kind of HR within our company, and then it's like you have to revamp and yeah, sometimes there's casualties as far as people that you had that helped you get to that point, Um, because they don't fit those core values of what you want with your company. So now that you've done that, when you actually implemented the O. S, did you actually sit down and, like, right out like your vision and you and your core values that these along those lines
spk_0:
11:48
I spent days on the BTO I really got Thio. I probably did it for five and yeah, a lot of time with division with with all that stuff.
spk_1:
12:00
And I know I've talked about traction before, guys, but that's what we're mainly talking about Here it's a book traction written by Gino Whitman. You haven't checked it out yet. I compel you to do it. It's It's awesome. Um, almost every successful company that I know of right now has some form of version of us traction in their company. S o. Check that out. It's an awesome book. It's something that we recently just redid. Um and you know, one of the things that I thought was amazing because when I read traction, I didn't actually read it. I did the audible version. One of the things that he says in in that version is the highest ratio that he seemed, and I can't remember the exact numbers and see that 80 or 92% of like actually implementing traction and a company so far is either 80 or 92% and that blew my mind. And it's like you would think that there's people out there that would really be able to implement every single aspect of this. But it's Ah, it's a growing thing, right? It's ever is changing and organic growth within your company. So when you read that book and you're like Holy counted, I don't have any of this implemented in my company. I don't become overwhelmed. Just start with one aspect of it and just continue to implement over time. Um, are you I know it's early on because it was only the second week in January, but are you seeing changes like for you personally? Do you feel better about your company now?
spk_0:
13:36
Yeah, just the clarity. I mean, we all at some point in time, if you're innocent, you want everyone to hear Take. You guys just became a bus were right, but in the past, by nature, I'm a pretty beautiful person. The unknown scared and I was running my business for almost three years. Based off last night, I was having the score part in place, just having believed measures actually understanding take guys and and reviewing it on a weekly basis personally, it's just created an exceptional amount of peace with the man. I know where I am. If there's an issue or missing a peek a pee, I can. We control it down and get issues. I'm just from a mind Sarah, a peace of mind, standing like knowing, having more clearly that this is not a whole lot better.
spk_1:
14:27
Yeah, you know, it's funny. You bring up KP eyes there. We could talk about that for a little bit. It's so funny that when you're not properly tracking those and analyzing that data, you can think that you have this amazing marketing channel and then you can go back and look at the numbers and be like, Wow, we were actually losing money, that marketing channel. Even though we were getting deals, we could have been putting it in this other marketing channel That's far more efficient, and we could have been making so much more money along the way is, do you think that has played an impact on you choosing the SMS 1st 2 now cold calling route is that kind of impact it by tracking your KP eyes?
spk_0:
15:14
No. Absolutely, Man Su 2018. I did nothing but cold call. And then we got on the text message, You damn wagon. And as you go big with the text messaging and your business is not with it will cripple it. I get about this, Mr. Couple Times were just massive flow right, calling last year old still over here to deliver there When I got to the end of the year and analyzed it and I almost put it up. I'm still debating if I'm going to my car. Yeah, it's like a staff was great. It was a few dresses. Rebel forces 18. And then we got to the end of the year and I actually did my lab analysis. And it's what years? Because I thought it was right now. Katie Otto. I didn't see that before. House. Yeah,
spk_1:
16:05
so on the SMS and the cold calling. Do you have in house people that are doing that? Are you outsourcing it through V A's or another company?
spk_0:
16:13
All source. So my my sms us. And this person is a rocket station D A. Okay. I had a ta do it last year. South American behavior in the last year. He did a great job you call beautiful, smart and you got a better opportunity. And my callers are also that's a somber And I guess they're Central American Michael calling for Central America.
spk_1:
16:37
And what is that? That training process look like, you know, because I think that's one of the biggest concern for people. Is is I'm hiring someone in another country is gonna be an accent. Is there gonna be a language barrier? Um, how can I properly train them? So what does that look like?
spk_0:
16:55
The trade in peace with the cold collars was pretty easy, man. Our next level slipping, comrade call in cases of all put up with a guy who sees you see, So it's half half the time. Casey, come with me. And then the other double caller is a time of me and then have time management for a company in Texas. So they were totally oblivious to rule State Kantra. They were using similar strips. What are youse and language? Very refined. It's, I guess, Accent. It's not right. 11 Robin Vegas until they were 18 Another one grows that got delivered from you so they don't wear
spk_1:
17:38
Yeah, You know what? I've seen that across the board that that when you go with specific companies, that a recommendation of some sort, the experience is really gonna be pretty seamless. And like you said, they already have that training and the experience, and they're used to the scripts that you're using. So that's pretty awesome that you're able to do that because, you know, we've tried to do cold calling in house multiple times and it's been hard, you know? I mean, that's, Ah, a constant training situation and you're always kind of second guessing like, Am I using the right script? If it's not working, you know, and and it's it's a little bit easier when you're outsourcing to somebody like that that's working with other people, and it's like a This is what's working with them, you know, like let me just let the cold call or go do their thing and said, You know it Sometimes as entrepreneurs were control freaks, right? You have any of that in your your control free, you know, it's a week for me. Personally, I've always wanted to keep everything in the house and you know, eventually we started looking at outsourcing different days, utilizing the A's for different stuff, so that's pretty cool that you've been able to do that. Um, let's talk about dispositions in acquisitions because you talked about, like, your 1st 8 or nine months your one man show. I always followed the roller coaster, you know, feeling. Did you kind of experience that your 1st 8 or nine months where was like acquisitions, acquisitions and then you had contracts and acquisitions came to a halt because you had to do dispositions? Is that kind of? Was that something that you struggled with?
spk_0:
19:19
Oh, yeah, and a big role. That roller coaster hasn't totally go away. It seems like there's ups amounts even when you have an opposition. Yeah, big time.
spk_1:
19:29
So your acquisitions managers Are they doing this boas well
spk_0:
19:33
in the past? Yes, I'm actually, that's the part of the business. I gotta get myself. I assume this decisions this year, and last year I had one oppositions. Manuel started off last year on the first, completely worked herself out the position, and then I kept calling for a full year. Last time she was doing opposition dispositions and with the volume grants me the band with to do both in the mindset shift. It's a different mindset doing and sells probably our problems for solo fires workouts of this year with my hearing aid. She's acquisition. She has her hands in hand in a little bit, but I'm probably doing this decision. So you cute, cute the end of the half year mark this year.
spk_1:
20:20
And who's gonna assume that role? That acquisitions manager you're gonna hire somebody are gotcha. You know what sometimes is the owner of the company. It's kind of hard to get out of dispositions because so many people want to connect with you and then they tell you things like, Hey, man, you know, I'm looking for this particular kind of property and then you go contract one, and it's hard to light, remove yourself and not be the guy that just goes and tries to sell it to that person, you know, and I feel that way all the time. Almost every single property we get. I have, like, four or five people in mind that I could go sell it to write then and I might, but I need allow my disco person to go do that. I need them to take that off because otherwise, yes, we might sell that property. But in the long run, I'm stunting our company's growth to be able to perform without R. J. You know? So when when you do hire that dispositions manager, what are some of the things that you would want that person to do? Because is, do you ever feel like this? But dispositions is really a full time gig by what are they doing outside of, you know, showings? And if you only have, like two or three properties under contract, what are they doing when those air Ari sold? Or maybe they don't have one to sell? What do you expect those people to do?
spk_0:
21:49
Yeah, I did my vision of this position's person all back problem will be full time. I'll find someone who's an agent licensed agent, and they've done this with somebody else, or they have a little bit of their own business going on. They're so hungry for more money for more advice now, probably put him in that role, but it don't worry full time. Roll out where our relationship will be. One of the network events of the jury is gonna meet us which I don't do anymore. I should on rubbing shoulders, all those people, full legal fires.
spk_1:
22:24
Yeah, well, let's transition out of that and talk a little bit about your experience within next level foot being what, first and foremost, what was the reason why you joined next level flipping?
spk_0:
22:37
I was looking for a mastermind to Was it the point in time where everyone needed thio to surround myself with more successful folks? I can't remember if it was It was dreaming. Orion restocked with baseball e actually. And I looked at the, uh I do in the group before it was paying. That's all. The members have a buddy who's in, Uh, what's the meaning of my amaretto me up? Which ones? That
spk_1:
23:02
and that's your fuel
spk_0:
23:03
industrial pool. And I saw it all. Mr. Fielding members on, man. I got invested Connexus, like, right here on my computer when I joined a Dustin school, which I see the value in a year. But that's what got into it. I got
spk_1:
23:21
school format, you know, and, you know, like earlier today we had a call with Gabriel Garcia and man, did he just He went off. I mean, He just started sharing everything about his company. He went into a system. He started breaking out spreadsheets on flips that they've done and breaking down the numbers. And it's just it's a pretty cool, you know, community of people that are just full, open and transparency. Um, what are what are some of the biggest takeaways that you've had from from being a part of next level foot? Is there anything in particular that you could say that really helped me grow within my company?
spk_0:
24:00
Yeah. I mean, it was, uh it came to my courage. Thio came down on my courage to open. You know, businessman, the first food. Stuff it up. There's an angle shared. This is talking up, ready to do it. All that stuff. And I put it out there. Just be back. I got from the evil one from guys. Who were you? Hundreds of Mount up beyond me, man, it is.
spk_1:
24:23
Yeah, it's pretty cool. So for anybody out there that's interested in being partitions, check out next level flipping dot com. Um, obviously, you know, I'm biased, but I would have the self proclaimed number one online real estate mastermind. I'm now prefacing that by saying, I think we're the only online real estate mastermind, so it's pretty easy to be number one, but it's a great group of people. And like you said, there's still value in the in person masterminds. We've never said, Hey, you don't want to be a part of those that just be a part of ours. There's nothing. There's nothing like breaking bread with people and just sitting down in the in person. But it's ah, it's a great little format to be a part of where you could share things with others and immediately get that feedback within the Facebook group and then be a part of the zoom calls. So outside that man, um, what is what is your Why behind being in real estate investing like what? What do you busting your ass for every day to do this? You openly admitted, You're lazy guy. You don't want to work hard. So what are you doing this for
spk_0:
25:30
this time? Freedom man, it's some freedom with my family out to young kids. I have flexibility, O B in all more than most folks just doing this, man. But it's holding the lead time for things outside will state it. My drive. My wife.
spk_1:
25:50
How old are your kids?
spk_0:
25:52
I want someone for
spk_1:
25:54
God. I have a seven year old in a two year old, Uh, in in same thing. Man, I I love the things that I get the experience with my kiddos. Um, you know, my son he fell in love with with hockey when he was a newborn man. I would turn on the Dallas Stars game, and he was just eyeballs were just stuck to the TV. And so, since he's been a baby, he's always wanted play hockey, started skating when he's three years old, and now he's actually playing hockey. Um, you know, we got the He got to play a game in American Airlines Center, which is where the stars play. He scored a hat trick, and I just got to the point where I was like, Man, we have such a an awesome experience playing, you know, being around hockey and let him play. And I was I just asked him. I said, Hey, what would you do it? How would you feel if Dad has started playing hockey again? He was like what it would be so cool, man. And so now I've started playing hockey again and just it's so funny because he gives me more feedback about how I play hockey than I give him feedback about how he plays. I'm just so proud of him. And I asked him after my first game, I was like, So would you take it out of play? And he's like, Well, you could've skated faster and you probably should have tried to score a goal and you could have won the game. You give me all this feedback, that man, that's that's what all this is about, right? You know, And, uh, you know, real estate investing is such a great platform t create that kind of wealth or financial freedom toe. Have that time, um, you know, moving forward. What kind of some of your goals to achieve that freedom. And what does that look like for you? What is freedom look like for you?
spk_0:
27:42
Yeah. So short term goals are getting just get is getting this business to seven figure operation. And once I had a seven figure operation by committing thing margins, I can start sat on wasting nails, and, like most people. They get a little state, the best in the rental income. The fascinating from this angle in its mind, too. I have a seven year retirement plan that I'm trying to get. It all hinges on this whole selling slash telling slash putting business being a ready source gadget. Old Italy. My what time? It looks like he's about four hours a week. If I could have this business to four hours a week and then after rentable South four star may need yeah, for work carefully about cared out company. Let that stuff that problem is just,
spk_1:
28:34
Well, somewhere out there, Tim Farriss is smiling about you saying the only one work four hours and weeks so roof like I'm going to give us some final thoughts. You think about your final your final sound off here. But I'm gonna go into my my patented sign off. Now, um, that everybody loves it. So if you're listening on iTunes, make sure you give us a five star review. If you want to give us a four or below star rating because you didn't like it, don't give it to us. We'll give it someone else, and we only accept five star ratings on iTunes. If you're watching on YouTube, give us the thumbs up. Make sure you subscribe and hit the notifications. Bar Eli. Final Thoughts
spk_0:
29:17
and I appreciate it. But all those out there he's looking to get started. It's This isn't easy. It is not easy at all so far, but it's very possible. It's not, unless just keep pushing forward. Be talked. You wanna quit on just move, or usually where you want to be? Just another side of that. You get to get off on it. Really
spk_1:
29:38
wise words right there. It's Ah, it's a simple, busiest business, but it's not easy. It's still hard work. It takes time. There's a lot of people out here trying to accomplish the same thing, so stick with it. And, like Eli said, you're probably 11 phone call away from the next big deal that changes your life. So that's our episode, guys, thank you so much. We'll see you all next week.
spk_0:
30:02
Thanks so much for listening to the titanium vault with your host our Jane base, the third more imposing. To stamp the date, visit www dot podcast on the titanium vault dot com and on facebook dot com slash the titanium vault. He enjoyed the episode Please rate in review and we'll catch you next time.
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