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Building a Big, Profitable Wholesaling Business with TJ Kosen

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Manage episode 384759150 series 2514838
Innhold levert av Taylor The Investor. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Taylor The Investor eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

What does it take to scale up a high-volume real estate wholesaling business?

TJ Kosen shares his experience building a thriving real estate wholesaling company doing hundreds of deals per year. He provides insights into scaling up through hiring the right people, investing in marketing and leads, and developing processes to repeatedly close transactions.

TJ has been in the market since 2006. He has owned and managed residential real estate from 1 to 112 units in addition to a residential Real Estate note portfolio and self-storage facilities. His Dallas-based investment company TNT Property Solutions moves a high volume of distressed and retail-grade residential properties in the Texas and Florida markets. TNT is a tight-knit DFW-based company that sources direct-to-seller distressed properties, recapitalizes them, and either holds them in their portfolio or positions them for resale on either the retail, wholesale, or seller finance markets.

We don’t believe in a “one-size-fits-all all” business model. We believe members and students should build the business they want - to suit their lifestyles and goals. To that end, we facilitate their success through a robust community whose guiding principle is “brutal honesty” when it comes to business development.

[00:02:18 - 00:03:45] Opening Segment

  • TJ bought his first 112 unit apartment complex off Craigslist in 2006, just before the 2008 housing crisis caused him to lose millions.
  • He restarted with house flipping in San Diego before moving to Texas to scale up his volume.

[00:03:45 - 00:05:35] Transitioning from a Dealer to Building a Business

  • TJ disliked talking to sellers, so he started hiring people to do it instead.
  • He realized he had to shift from a transactional dealer mindset to building out the business.
  • This involved developing processes that could be repeated and finding employees passionate about acquisition.

[00:05:35 - 00:08:21] Generating High-Quality Leads at Scale

  • TJ uses PPC, direct mail, referrals, and targeted Facebook ads to drive leads.
  • PPC provides high-intent inbound leads that convert quickly. It's expensive but optimized over 5+ years.
  • He adds team members only after increasing leads to ensure their success.

[00:08:21 - 00:10:18] Coaching Employees from Junior to Senior Roles

  • New hires start assisting on calls before taking the lead to build confidence.
  • Inbound leads require closing fast, so junior team members are coached to convert high-intent sellers.
  • This training helps transition them into fully independent roles.

[00:10:18 - 00:12:37] Transitioning from Deal Focus to Process Focus

  • TJ doesn't worry about margins on lower-profit deals. He cares about repeating the process.
  • This means focusing on marketing costs, conversion rates, and closing costs rather than profit per deal.
  • Empowered employees can negotiate both low and high-profit deals effectively.
  • Best deal: His primary residences with more than 1 Million in Equity
  • Worst deal: Buying two apartment complexes right before the 2008 financial crisis
  • Top lesson learned: Hitting a stress limit is a sign you need to hire and delegate tasks to others.

Quotes:

"I didn't like talking to sellers. Just, they bummed me out. I mean, you're motivated by two things, right? Pain or pleasure. And the pain of talking to sellers was worse than the pain of having to pay people to talk to sellers." - TJ Kosen

"Invest in people because yeah, just invest in people. That's the only way to get out of doing all the stuff yourself. It's going to be a headache. It's going to be expensive. It's going to be stressful. But, once you hit a certain stress level, just doing more stuff, it doesn't actually provide more stress. It just means you prioritize what's actually important." - TJ Kosen

Connect with TJ:

Instagram: https://www.instagram.com/tjkosen/

Apply to Invest with Taylor at www.investwithtaylor.com

Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com

Please leave a review and help others escape Wall Street and build wealth on Main Street!

  continue reading

702 episoder

Artwork
iconDel
 
Manage episode 384759150 series 2514838
Innhold levert av Taylor The Investor. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Taylor The Investor eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.

What does it take to scale up a high-volume real estate wholesaling business?

TJ Kosen shares his experience building a thriving real estate wholesaling company doing hundreds of deals per year. He provides insights into scaling up through hiring the right people, investing in marketing and leads, and developing processes to repeatedly close transactions.

TJ has been in the market since 2006. He has owned and managed residential real estate from 1 to 112 units in addition to a residential Real Estate note portfolio and self-storage facilities. His Dallas-based investment company TNT Property Solutions moves a high volume of distressed and retail-grade residential properties in the Texas and Florida markets. TNT is a tight-knit DFW-based company that sources direct-to-seller distressed properties, recapitalizes them, and either holds them in their portfolio or positions them for resale on either the retail, wholesale, or seller finance markets.

We don’t believe in a “one-size-fits-all all” business model. We believe members and students should build the business they want - to suit their lifestyles and goals. To that end, we facilitate their success through a robust community whose guiding principle is “brutal honesty” when it comes to business development.

[00:02:18 - 00:03:45] Opening Segment

  • TJ bought his first 112 unit apartment complex off Craigslist in 2006, just before the 2008 housing crisis caused him to lose millions.
  • He restarted with house flipping in San Diego before moving to Texas to scale up his volume.

[00:03:45 - 00:05:35] Transitioning from a Dealer to Building a Business

  • TJ disliked talking to sellers, so he started hiring people to do it instead.
  • He realized he had to shift from a transactional dealer mindset to building out the business.
  • This involved developing processes that could be repeated and finding employees passionate about acquisition.

[00:05:35 - 00:08:21] Generating High-Quality Leads at Scale

  • TJ uses PPC, direct mail, referrals, and targeted Facebook ads to drive leads.
  • PPC provides high-intent inbound leads that convert quickly. It's expensive but optimized over 5+ years.
  • He adds team members only after increasing leads to ensure their success.

[00:08:21 - 00:10:18] Coaching Employees from Junior to Senior Roles

  • New hires start assisting on calls before taking the lead to build confidence.
  • Inbound leads require closing fast, so junior team members are coached to convert high-intent sellers.
  • This training helps transition them into fully independent roles.

[00:10:18 - 00:12:37] Transitioning from Deal Focus to Process Focus

  • TJ doesn't worry about margins on lower-profit deals. He cares about repeating the process.
  • This means focusing on marketing costs, conversion rates, and closing costs rather than profit per deal.
  • Empowered employees can negotiate both low and high-profit deals effectively.
  • Best deal: His primary residences with more than 1 Million in Equity
  • Worst deal: Buying two apartment complexes right before the 2008 financial crisis
  • Top lesson learned: Hitting a stress limit is a sign you need to hire and delegate tasks to others.

Quotes:

"I didn't like talking to sellers. Just, they bummed me out. I mean, you're motivated by two things, right? Pain or pleasure. And the pain of talking to sellers was worse than the pain of having to pay people to talk to sellers." - TJ Kosen

"Invest in people because yeah, just invest in people. That's the only way to get out of doing all the stuff yourself. It's going to be a headache. It's going to be expensive. It's going to be stressful. But, once you hit a certain stress level, just doing more stuff, it doesn't actually provide more stress. It just means you prioritize what's actually important." - TJ Kosen

Connect with TJ:

Instagram: https://www.instagram.com/tjkosen/

Apply to Invest with Taylor at www.investwithtaylor.com

Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com

Please leave a review and help others escape Wall Street and build wealth on Main Street!

  continue reading

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