This is the continuation of the Flip2Freedom podcast transcription. In this episode, Sean interviews the nation’s #1 wholesaler, Kent Clothier, and finds out how he created a wholesaling empire – averaging over 50 deals a month.
Sean: First off, tell us why you actually created that? How can someone brand-new use it? What are some of the strategies of using it? First off, why did you actually create that?
Kent: Because, we don’t like working that hard. Let’s get right down to it, I was sending somebody down to the county courthouse every week looking this stuff up. It’s all a matter of public record, the information does exist, but in a lot of markets it’s not very easy to get to. It’s a very cumbersome process, and because of that, we enlisted the help of some really smart people to help us automate this for our own business. Help us go find the transactions where people are paying cash, and we can identify these people and use the information to help move our business ahead.
We figured if we could get the cash buyers earlier and more often than our competitors, then we can in turn enlist the help of those cash buyers and help them to go find more of what they are already buying. A lot of people get hung up on what’s a good deal, and what’s not a good deal, or if I go to the auctions, where should I go find properties? I think it is important to understand that once you have cash buyer relationships, they will tell you where to go.
Sean: So, Kent this platform we are talking about, you were talking about where you had guys go down to the county courthouse, pull data of cash transactions. I have been in this software system that you created. I was lucky enough to have access to see how it worked. But, it was literally amazing where there was a search box, and I put in a ZIP code, because I had a property in this particular area, and it pulled all of the cash transactions. And, I cross referenced the kind of look just to see, and it was unbelievably accurate.
Now, I am in Phoenix and you run your business in Memphis, but you live in Florida. How do you gather all of this data in one simple press button/cash buyer thing, how do you do that?
Kent: Well, we work behind the scenes, again all of this information is a matter of public record, but nobody has ever been able to bring it all together like we have in one centralized location. We have teams that work with a lot of different organizations, including some of the municipalities, we have software that goes off and pulls a lot of this information. And, every 14 days or so we bring it all together, load it all on the database, and refresh all of the data. Then, do it all over again every 14 days, so a couple of times a month, between our teams and between our software, we are pulling all of this data into one centralized location, just try to make it easier.
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