Exactly How To Get Started Wholesaling Real Estate with Ed Hayes

Speaker 1 (00:00):

On this episode of the, Exactly How podcasts and YouTube show we uncover exactly how to get started in wholesaling real estate.

Speaker 2 (00:08):

You’re listening to the Exactly How podcast, where you’ll hear the underground, closely guarded wealth building secrets of successful people around the globe, discover exactly how to improve your mental, physical, and financial health. Feel better, make more money live, give, and prosper in today’s exciting, fast paced world, build with opportunity for those who know exactly how

Speaker 1 (00:36):

Exactly How podcasts and YouTube show brought to you by Connected Investors. Now, during this episode, you’ll discover exactly how to get started in wholesaling real estate. Now, for those of you who are new, my name is Shaun Young, today’s host and proud member of the Connected Investors community. Now, before I introduce you to our incredible guest speaker today, I want to make a request that if at any point in the show you like what you’re hearing, please give us a thumbs up or subscribe to the show so that you don’t miss an episode and make sure to look in the description of this episode, as we’ve packed it with thousands of dollars in free resources, not today, we have the privilege to learn from someone who became financially free from wholesaling. Now, prior to his career in real estate, he managed to taco bell, but all that changed when he quit his job as a CNA had no choice, but to learn how to wholesale to feed his family and make it happen. I would describe our next guest as dedicated. I like to give a warm welcome to the one, the only Edward Hayes. Hey ed, thanks for being a guest on today’s show.

Speaker 3 (01:42):

Hey, thanks for having me. Thanks for having me, Shaun. I really, really appreciate the opportunity.

Speaker 1 (01:47):

Absolutely, absolutely. Now, Edward, can you tell our audience a little bit about where you’re from? You know, what market you’re in and just a little bit about yourself?

Speaker 3 (01:55):

Yeah, absolutely. So, you know, my name’s Edward Hayes, you know, a lot of people may know me as the wholesale coach. I have a YouTube channel. Um, you know, I’m originally from Chicago. I was born and raised like in the suburbs of Chicago, out in Harvey and Mark them for all of my Chicago winds out there. Um, and now I’ve recently moved out to Las Vegas at the end of may and now, so, you know, I’m out here is it’s been a long journey. I’ve been wholesaling since 2016. Um, you know, I’ve started my YouTube channel a couple of years ago. So, you know, just glad to be out here, providing some, some, some value for the community,

Speaker 1 (02:32):

Got a sauce. I mess up. Definitely glad to have you on today’s show. Now guys, before we dive into exactly how to get started in wholesaling, ed USA, you contribute a lot of your success to your competitive spirit, you know, can you tell our listeners why that is?

Speaker 3 (02:47):

Well, you know, like I grew up in a, in a very competitive family. Um, you know, I’ve got a lot of siblings, I’ve got seven siblings, I’m the youngest of eight, pretty much siblings all or whatever. So, you know, when, when I was growing up, you know, my me and my brothers and my sisters would, you know, compete with everything, we would play video games and whatever. And like, I just want it to win so bad. So like that’s a part of, um, it just kind of became a part of me. Let’s just put it like that. You know, I spent a lot of time. Um, well let me just, let me just say, like, you know, I spent a lot of time, you know, in my life competing in general and now, you know, uh, you know, that competitive spirit from, from growing up, I guess it kinda, it kind of fuels me still let’s put it like that. I want to be the best at everything that I touch. I don’t want to just be kind of middle of the pack or mediocre with anything. I strive to be the absolute best at everything because I want to win. I want to be first place at everything. So, absolutely.

Speaker 1 (03:46):

Wow. So Edward man, you come from a large family and, uh, so it sounds like just having, you know, competition’s over basic things like maybe video games or, you know, who could run the fastest, you know, that kind of instilled a little bit of that spirit as well. Am I right?

Speaker 3 (04:00):

Yeah, absolutely. Man, absolutely. You know, you go run up with a bunch of brothers and sisters and whatnot. It’s like, I don’t know. I think, I think you grow a lot from that man. Like you, you gain a lot from, from being around a lot of mature people all the time, you know? And it’s like, you know, you’re the youngest out of everyone in the entire family. So I got to see a lot of things that maybe a lot of other people didn’t get to see as well. So yeah, definitely a blessing

Speaker 1 (04:25):

Sounds like it. Well guys, what makes the Exactly How Financial Freedom Podcast and YouTube show unique is that each and every show comes with a detailed action plan. We pull the steps out of the show, create a blueprint on exactly how to implement what we’re covering. Plus you get to see our free training right now, text the word exactly to (910) 600-0630. To see for yourself. Now you guys can find properties in any town for pennies on the dollar with this software that I use each and every day, all you have to do is visit connectedinvestors.com/free to get the key takeaways and the resources and access to the free cash buyer script. Now, can you tell us a little bit more about this cash buyer script Edward?

Speaker 3 (05:12):

Yeah, absolutely. So, you know, for me personally, when it comes to getting started in wholesaling, you know, I see a lot of people out here who teach people a lot of times to just go out and talk to homeowners before they actually, you know, have investors, right? So you’re reaching out to homeowners and you’re telling them, Hey, I’m going to buy your property. Or, you know, my investors are going to buy your property, but a lot of times people are teaching it, but they don’t actually have the [inaudible]. So they’re teaching people to kind of go out there and, you know, essentially deceive people. So, you know, it’s, it’s a thin line there. Let’s put it like that. So this cash buyer scripts allowed this cash buyer script allows you to be able to, you know, actually build up a, with cash buyers in advance. So, you know, they know who you are, you know who they are. And realistically, now you can maybe expect that person to come to the table with the check. So, you know, when it comes to the script, you know, I like to, to have people utilize that script in advance. So build up that relationship, have the buyer’s criteria down packed, and then you’re just going out there and getting your investors what they’re looking for. So it just smooths out the process and it makes the, the overall process of getting these deals a lot faster.

Speaker 1 (06:32):

Absolutely. I would, I would agree with you 100%. Um, we’ve talked about that in the past, uh, on episodes where, you know, basically it’s, it’s like going out there and providing someone their order. They come in there, they’ve come to you to say, Hey Edward, you know, I want a Turkey sandwich with lettuce and tomatoes and Mayo, and you go out there and, and get them that sandwich. And you know, when you’re doing it that way, guys, it makes it much easier than trying to make a Turkey sandwich with lettuce, tomato, Mayo, and trying to offer it to people who, who might only want a peanut butter and jelly sandwich.

Speaker 3 (07:02):

Absolutely. Absolutely. And that’s, that’s kinda like my whole thing because every, you know, you see a lot of people who may say, well, if it’s a good deal, then someone will buy. It will, what’s a good deal is it’s going to vary. It’s extremely subjective. You know, John May only buy single families in a fluent neighborhoods where Bob only buys, you know, multi-families in kind of like the hood type areas. So, you know, it’s very subjective.

Speaker 1 (07:30):

Absolutely, absolutely. Now guys, as nearly a million people know connect and investors is a social network of real estate investors. And it’s a marketplace of investment properties. Now in the description of this video, I’ve included a link to this episodes form discussion. Now, ed let’s dive into the steps needed to get started in real estate wholesaling.

Speaker 3 (07:52):

Yeah. So to get started, typically what I’m teaching my, my coaching clients, the first thing that they want to do is go out and try to establish a presence online and offline. That’s going to be attractive to buyers and sellers, right? So, you know, it’s not, if it’s when people go and look you up online, you want to make sure that there’s things there that people want to see. You don’t want it to be a disconnect. You don’t want them to go to your Facebook profile and see call of duty videos and real Housewives of Atlanta. You want it to be obvious that they’re actually, that you’re actually in wholesaling or that you’re in real estate in general. Right? So once you’ve established a presence online and offline, there’s a lot of, uh, little micro things that I recommend such as websites, business cards and things of that nature.

Speaker 3 (08:38):

But I’ll have you all here all day if I went into everything. So I’ll kind of give you the cliff notes. So once you establish that, that presence online and offline, then I recommend people go out and start to do some target market research. We want to find out where buyers are actually buying in our area. So like, I’ll start off with like my area. And then I’ll establish a radius about one hour to about a half hour and a half radius from where I am. I want to see how many homes are actually selling in these areas. All right. So men lie, women lie numbers don’t lie. So once we know how many homes are actually selling in these areas, then we can go out there and try to establish relationships with investors in these areas to find out what they want. Right? So I’ve got a ton of different strategies on how to actually come across these buyers. And now you all have access to that scripts. So whereas you can actually have these conversations with the buyers. So once you have

Speaker 4 (09:34):

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Speaker 3 (09:49):

So once you have the conversation with them, then it’s just about getting out there and getting these investors some inventory at that point. So what I recommend first is go out and see what’s already available on the quote unquote or from market, right? So I like to go to places like Facebook marketplace and Facebook groups, as well as Craigslist and see what’s available already. What are other wholesalers trying to market right now? What do agents have that may be off market or their pocket listings and things of that nature. And then from there, uh, you know, once I gather up those properties, I’m going to shoot those off to some investors right away, because I want to have inventory. I want to be kind of like the Amazon of the wholesaling game. So you want to be needed on both ends of the spectrum, where the buyers need you to get access to all of the inventory, but also other wholesalers and agents also need you because you have access to all the buyers.

Speaker 3 (10:44):

So there’s a, there’s a method to my madness out here. Yeah. You know, so, um, you know, and then once you, once you’ve started to establish some relationships with other whole sellers, then obviously we can’t run our entire business off of JV deals. So we’re going to go out there and start implementing other marketing strategies to bring people in such as cold calling, texting, abandoned signs, flyers, there’s a ton of different things that you can use. And honestly, everything works. So it’s really about asking yourself about like, what really works for your budget, your time, your schedule, things like that. What are you comfortable with? What are you really good at already ask yourself those questions because everything works. And now once you’ve, you know, you’re putting out that marketing, you start having these conversations and it’s really about providing value to the market. We want to be out here helping sell this.

Speaker 3 (11:30):

We actually want to, you have to genuinely care about people and genuinely be trying to give them value. Let’s put it like that. So when you’re calling people make sure that you’re not just thinking about them as like a potential $10,000 come up, but you see them as someone who genuinely needs your help. You know, that’s Ms. Johnson down the street, she may have, you know, a disease or, you know, Corona may be hating her hard and she desperately needs help right now. So see them as someone that you can actually service because that’s the only way that we can get paid out here. One of my favorite quotes is from Earl Nightingale. He says that the only people that make money working in emits the rest of us have to earn our money. Right? So, so the only way that we can earn our money is providing service and actually giving value to people.

Speaker 3 (12:14):

So that’s pretty much the game in a nutshell, but like once you’ve actually connected, some people who want to sell and then like you you’ve got your buyers already. So then you’re just, you know, connecting the dots. You know, you let John know that you’ve got the property and then, you know, you get the paperwork signed and you, you take it up to the closing company, to the title company or whatever. And it’s, it’s, it’s as simple as that pretty much, but it’s, it’s pretty much just getting two documents signed essentially, but making sure that we’re doing it with a sense of purpose and actually trying to give value to people,

Speaker 1 (12:48):

Man, that is great. I really like how you emphasized and really kept emphasize on the fact that you’re trying to help people, um, w we’re in this industry to help people, um, right now, um, at wholesaling as a whole, it, it ha you kind of get mixed reactions when you, when you say the word wholesaler or people say, Oh, you wholesale. And that’s because there’s some folks out here that aren’t doing what you just said, which is trying to solve people’s problems. They’re only trying to make money. And, and that that’s two different approaches. And I’m telling you guys, um, a scarcity mentality or, or an employer employee mentality would be, let’s just chase the money because who knows if it’s gonna keep coming. However, if you have an entrepreneurial or a long view, a long, a long vision on what you guys are doing, what Edward said makes total sense, which is try to solve problems.

Speaker 1 (13:41):

Not only is that going to make you feel better at the end of the day, this person’s going to remember you for solving a problem, not for being somebody who just, you know, came in and kind of took advantage of a situation for them or made them feel like, you know, they didn’t count. They didn’t really matter. You would just, you know, they were just another house in your, you know, in your pool of houses when you guys give people, uh, that one-on-one time, they really do appreciate it. So Edward man, thanks for really saying that our industry is, uh, is definitely in need of, of, of that kind of mentality and mind frame to keep things going.

Speaker 3 (14:15):

Absolutely. You know, and I, you know, there are laws being established around the nation most recently, Philadelphia, where there, um, you know, establishing laws, making it harder for a wholesalers to wholesale or, you know, establishment where people have to give license, get licenses and things of that nature. So, and I’m not necessarily against the notion, but I always say that we kinda need to regulate ourselves from within everything that I talk about is based in honesty and integrity, we don’t have to lie and to see people and manipulate people to actually get these deals. We can just actually genuinely try, give value to people. But like, after, like I’m personally a licensed agent out in Illinois now, and, you know, I realized after taking the classes, there are a lot of lines that we make cross as wholesalers that we don’t really realize because, you know, we don’t actually have to get certifications or licenses and things of that nature. So I’m not necessarily against the idea of us being regulated. But I do think it’s important that we do things in general that we regulate ourselves from within. So then when, when we do, when there is legislation going to be pushed, then maybe we can get a seat at the table if we’re already regulating ourselves.

Speaker 1 (15:31):

Absolutely. Absolutely. And guys, and that takes, uh, you know, operating from a place of integrity. So guys out there listening to guys and gals help us out. All right. So, so now that, that was great, great stuff. I really like how you broke that down. Is there anything else that you think is important for someone to know, you know, when getting started with wholesale that you hadn’t already covered?

Speaker 3 (15:56):

Yes, absolutely. In fact, I think that it’s something that comes to mind when you asked me that question. This is probably the most important thing when it comes to building a business or doing anything that you really set your mind to, and that’s, it’s going to take some work, right? It’s, it’s going to be a grind out here. It’s this like wholesaling is definitely not get rich quick. And anybody that tells you, so is trying to sell you a dream. Okay. Take my word for it. So it’s like, if you comment, it’s a wholesale and I say, be in it for the long haul, be in it for the long haul and be willing to do whatever it takes. As long as you don’t have to sacrifice your dignity in the process, as long as you don’t have to, you know, do people in or try to treat people wrongly to, to get where you’re trying to go do everything that it takes, especially if you’re listening to this and you’re working a job right now, if you’re willing to go out there and give another man or a woman, you know, eight hours, 12 hours of your life, make sure that you come home and still give some time to your dreams.

Speaker 3 (16:57):

If your dreams are to be able to get some discount properties via wholesaling, right? Like that’s what you look to do. Like, don’t think that it’s just going to be overnight. Really know that it’s going to take some work, but it’s worth it. You know, thing like, I’m blessed to be able to say that I’m free, thanks to wholesale that like, you know, I’m financially free. I don’t have to go into someone’s job right now and it’s always going to be there. So, so it’s something that like, once you learn this skill, it’s kind of like riding a bike, you can always get back on. So yeah. I hope that that helps. Yeah.

Speaker 1 (17:26):

And absolutely great stuff, man. I love it. And, and I agree with you a hundred percent on everything you just said. Now, as far listeners out there, as a reminder, if at any point in the show, you like what you’re hearing, like the stuff that’s going on right now, make sure to give us a thumbs up, subscribe to the show so that you don’t miss an episode. It’s your engagement that drives us to keep this, doing this for the community free. Now, ed, if people out there want to get ahold of you, you know, w what’s the best way for them to reach you or find you out there.

Speaker 3 (17:56):

Yeah. Yeah. Great question. So, you know, I would recommend people go check out my YouTube channel. You can just search in Hayes, the wholesale coach, or just the wholesale coach or just ed Hayes. I’m pretty sure that I’ll be popping up if you do any of those searches. Um, and I can shoot you over a link as well. Um, so you all can check that out. It’s also, I recommend, you know, check me out on Facebook. You can join my Facebook group. Um, it’s called wholesale deals and strategies. We have a lot of conversations inside of there. If you have questions and things of that nature, you can post them inside of the group.

Speaker 1 (18:31):

That is awesome. Great, great stuff, guys, make sure you head over there and check it all out. Subscribe become part of what he’s got going. Guys. Trust me. He’s a good guy. Very good friend of mine and I can vouch for him. So, um, Edward, let me ask you, you know, what do you think your life would be like if, if you never started real estate?

Speaker 3 (18:51):

And that’s a, that’s a great question. Honestly. I think that I definitely wouldn’t be where I am right now. You know, like I would, I would probably have just continued down the kind of nine to five grind. Like w before I started wholesaling, I was working as a CNA certified nursing assistant. So I was waking up at five o’clock in the morning having to go white butts pretty much like, like, you know, like, I know that sounds crazy, but like, that was literally my job. I used to really, you know, be kind of miserable sometimes just thinking about like, Oh man, you know, like I got to go into this job and be doing this. So I think I would likely still be doing that. I’ve always been an entrepreneur at heart and I had tried this thing and that thing and this business and that business and all selling ones, really the thing that kind of stopped for me real estate in general, really? What was really what stuck for me. So I’m blessed to have real estate right now. If I wasn’t, I would probably still be working in like a kitchen somewhere or like in someone’s nursing home right now. It’s crazy,

Speaker 1 (19:52):

Man. That is great. Great stuff. Great, great stuff, Edward, man, I want to thank you so much for being a guest on today’s show. But lastly, before we call this a day, we’ve got one more part of the show that’s called the rapid fire session. Well, I’m going to ask you a series of questions and you answer them as fast as you can. And just say the first thing that comes to mind, are you ready? Let’s get it. I’m ready. Let’s do it brother. Let’s do it. All right. On a scale of one to 10, how strict were your parents Get up early or stay up late?

Speaker 3 (20:27):

Get up early.

Speaker 1 (20:28):

How many hours of sleep do you get?

Speaker 3 (20:31):

Usually around six to seven.

Speaker 1 (20:34):

Okay. Favorite or last book read

Speaker 3 (20:38):

The magic of thinking big, which is in the background of, of my video is one of my favorites. But the last one that I’ve read, one that I’m reading now is called

Speaker 1 (20:48):

A 12 months to a million. Awesome. Awesome. If you could be any superhero, who would it be? Superman, something everyone should do less of talking more action. Something everyone should do more of less talking like that. It got it. Bitcoin bang or bust bang. I’m invested. Okay. Well, people live on Mars in your lifetime. Hopefully that’s definitely. That would be great, man. Well, that, that does it, man. I really do appreciate it. I really, really want to thank you for being a guest on today’s show and for our audience out there, who, who followed along with us and stuck with us to the end. Because as you know, most people don’t start what they finished. So you guys are special out there. And if you got any value out of today’s show, please share this with your friend or on your Facebook page. Like this video, subscribe to our channel and send us topics that you want to learn more about. And like I said earlier, guys, nearly a million people use the Connected Investors, social network and marketplace to connect. Now in the description of this episode is included a link to this episodes, form discussion. Tap that link. Ask me another pros questions and see what investors are saying about this very episode. So guys, until the next episode, you can catch me on the inside of connecting investors. See you on the inside. Bye.

Speaker 5 (22:27):

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Speaker 1 (24:05):

[inaudible].