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March 13, 2023

Revolutionizing Wholesale Real Estate - Your Step-by-Step Guide to Building a Successful Real Estate Business in a Box That Makes Millions | Mike DeHaan

In this episode of the Millionaire Mindcast, we have a stellar guest, Mike Dehaan who imparts a ton of valuable insights around real estate wholesaling, the effective wholesaling sales and marketing process, the mindset around building a successful...

In this episode of the Millionaire Mindcast, we have a stellar guest, Mike Dehaan who imparts a ton of valuable insights around real estate wholesaling, the effective wholesaling sales and marketing process, the mindset around building a successful Virtual Assistant Team, and building a successful real estate business that making millions while getting more freedom in life!

Mike Dehaan is an entrepreneur, a real estate investor, lead generation master, systems specialist, host of the Collecting Keys Podcast, and the owner of Collecting Keys LLC, Backyard Home Buyers, and INW Properties, a real estate service company based out of Spokane, WA that specialize in buying properties for cash throughout the Inland Northwest. The properties they purchase are primarily restored with lasting quality and made available for lease.

Real estate stuff is never on Mike’s radar. After spending 5 years as a corporate engineer, he quit his engineering career in 2018. He spent the following 2 years studying real estate investing and business to start an investing venture. At that time, he found a major skill set and passion in building scalable repeatable systems that creates disruption in the real estate wholesaling space. Since 2020, Mike has made from 0 to 200 real estate deals in 3 years. Currently, he is working to productize the wholesale business system and process that anyone can benefit from.


Some Questions I Ask:

Where did these real estate, investing, entrepreneurship, and/or professional careers start for you?

What do you think the problems are of wholesaling in the industry as a whole?

By partnering with the right people, how can you guys allow them to accelerate getting to a place of profitability and the benefits of having a really strong sales and marketing process?

How have you approached building such a successful Virtual Assistant Team?

What do you think some of the people that have failed with Virtual Assistant Teams are overlooking and might need to revisit?

Who is the ideal partner for your company? How do you go about identifying who the right person is and what the right market looks like?

What does the startup investment look like for this wholesaling system?

What is your vision as you see your company taking off?

Is this something that only applies to single-family or is there a commercial aspect and approach that you guys have been exploring and providing as well?


In This Episode, You Will Learn:

The effective step-by-step sales and marketing process.


Connect with Mike Dehaan on: 

Collecting Keys Podcast




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Mike DeHaan

Matty A: [00:00:00] I'm excited. Welcome into the show. Mike Dahan. How

Mike DeHaan: we doing, brother? Good, Matt, how you doing, man? Good to see you again. I know

Matty A: we just got some time together in Lake Tahoe at the GoBundance Annual Winter Mastermind. That was

Mike DeHaan: fun. Yeah, it was. And I really appreciate you doing like your one sheet and all that stuff up on stage.

That's you put yourself out there in a way. Is that's making yourself vulnerable, man. You're showing all your dirty laundry. Yeah. I guess it says a lot about you as a person. And then also too, it's cool to, learn that whole process of looking at like wealth and income and your whole balance sheet, from someone that's. I guess for me, you're only a little bit older than me, but someone that has like a lot more wisdom around it, I think is super insightful.

Matty A: Dude I appreciate that man. Yeah, that, that was fun. Of course, when you get Aaron West, busting your balls and talking some shit from stage, that's always uh, , , that always adds another dynamic.

Yeah. But was that was that was fun, man. I think, the one sheet has been such a powerful tool. Any tool I think that, gives you clarity around the things that matter most. Whether it's in your life, in your health, in your [00:01:00] relationships, your business what you currently have and what you currently are, pursuing it makes it really easy to.

Kind of get the value and the feedback from people that can really serve you. And obviously in that community, that's that's one of the staples and really one of the processes that allow you to get as much feedback in such a short amount of time. So I appreciate you sharing that.

And it was fun hanging out with you and chatting a little bit about. What you got going on, and I know we're gonna break a lot of that down today because where I've seen you start and where you're at today is amazing and it feels like you're really only scratching the surface with a lot of the stuff that you've got going on.

In the real estate investing world, which now is becoming available to more investors and blowing up. So we're gonna talk about that today in terms of how you're creating this disruption in the real estate wholesaling space and launching wholesaling as a service for people that may not wanna run it as a, full-time focus for themselves or maybe don't have the experience or the knowledge, but are really [00:02:00] looking to get into the space leveraging your company and what you guys have done.

Insane. So I know we're gonna talk about that, but I want people to of know a little bit more about Mike and the journey that you've been on and where this all began. So as you got into your professional space, where did this real estate investing, entrepreneurship and or just, professional career start for you?

Mike DeHaan: Yeah. So first off, the real estate stuff was never on my radar. Like when I originally, I dunno, just started life even growing. My my parents, they bought their house for cash, in the late eighties. The house that I grew up in. My dad was a, was an entrepreneur. Entrepreneur.

He owned a travel business. They bought their house for $110,000 or whatever it was in the eighties and in Montana. And I didn't even realize. That until I started getting into real estate, way later that they had never even gotten a mortgage before. So the whole real estate process was not something that I was brought up around at all.

And grew up in Montana, Bozen [00:03:00] Montana, which is a very popular place to go now due to its asset access to skiing and Yellowstone and all these sort of places. But back when I grew up there, it was a small cattle town, pretty much, it was a little bit more developed than a cattle town, but still same sort of vibes and it was small enough that I remember when we got our first apartment store, which was a target, and I was 11 years old. And so that was only like 20 years ago. That wasn't like that long ago. And now that area, has everything and houses there sell for a million dollars. So grew up there and the goal was always to go the traditional path.

Go to college, which I did, went up through high school, went to Gonzaga University here in Spokane, where I still live, got an engineering degree. . And once I graduated, by all intents and purposes, the rest of my life was set for me, right? I had an engineering degree, I had a stable career, I had a job at Boeing.

Everything was lined up to, just do the corporate path like I was supposed to do. But even when I was like in school, and as, especially when I started working, I wasn't like a good fit for that sort of lifestyle. And I remember I've always had this little bit of, I don't wanna say [00:04:00] anti-establishment, I would say anti.

have like leadership issues, like I have trouble working for other people. . You're unhireable. Yeah. Yeah. Like even when I started my first job, I was in the bathroom. It was like my second or third day at work. I was like 23. And this guy came in and I made kind of a snarky remark to him about the office, and he said, oh.

He was like I'm the office manager. He's I'm technically your. and I think he said that as a way of being, be careful what you say, but my response to him being a sassy 23, I was like, oh, consider that some feedback then we need to figure that out. And that's where got around of I'm not really a good team player,

And it's funny, it's one of those like little moments that he probably doesn't even remember that, but it stood out in my mind of something like that in hindsight was a little bit weird. So I was an engineer for a while. I never really enjoyed it. I really struggled with the ups and downs of that style of business.

A lot of button seat time, not a lot of like mental stimulation. And the real slap in the face came after the first year when, I felt like I had been working pretty hard [00:05:00] and I got like a $3,000 a year raise. And I was like, this kind of sucks. I was living in Seattle, it's an expensive place to live.

I didn't have a whole lot of affordability. Sorry. I couldn't afford a lot for the area. Yeah. Just because everything there was expensive and, going through that, I just started to go there must be something more that I can do. And first off, I. Blamed the Seattle area said it wasn't really my vibe.

I was never from the city that big. So I moved back here to Spokane where I'm at. I am now working at a different company that I actually really liked working for. and had a huge upgrade on my lifestyle just cuz it was so much cheaper. But then I just ultimately, after a year of that said, I don't wanna do this anymore.

And I quit. So 2018 I just pulled the cord, jumped outta the plane, and just hoped that my parachute opened and decided I was gonna believe in myself. And what followed was me having no idea what I was doing, driving for Uber. I was working out of a gym. I did those kind of things for years while I.

Dabbled in different sort of entrepreneurship [00:06:00] endeavors. Read a lot of business books. Was trying to figure out my. and I tried everything from, e-commerce to running marketing agencies, to, I worked, I taught myself how to code for Spain and I worked at a couple different startups just doing like general mostly front end development and kind of strategy with these different applications that we were building.

And real estate actually came around almost an accident because when I read all these wealth generation books, real estate comes up all. , right? You read any book about generating wealth, real estate is the number one reoccurring thing that occurs in every general stance, right? Yeah. And my goal when I started getting into real estate was I want to have some passive income so that I can focus on these other endeavors.

And it wasn't even about becoming a real estate investor or like flipping house or doing any things I've done over the past couple of years. So I liquidated on my corporate 401k. Had about 110,000 in it. I'd been, diligent about putting money in there. My, during my time as an engineer and I bought these turnkey properties [00:07:00] that were brand new builds that, in hindsight were actually pretty rough investments.

Just because the cash on cash was not what I thought they were gonna be, and I was just being ignorant and trying to make like a. , a decision that I thought would give me a little bit of cash flow because like my knowledge to it was, okay, if I buy these, my mortgage payment will be 1100 bucks.

I'll be able to rent 'em for 1600 bucks. I'll make $500 a month. Which of course is not how it works when you account for management taxes, everything else, right? Yep. Got into those, but I did start making a little bit of money and that gave me the bug. So I started getting into content around real estate, bigger pockets, all those sort of things going into meetups.

Decided I was gonna start flipping houses mostly so that I could buy more houses, so I could have more passive income, so I could focus on the endeavors that I thought I was interested in. Got into that realm. Partnered up with people. I didn't have a whole lot of money. I had some hustle, I had some time, so I would partner with people that had the cash.

I would do a lot of the work and piece together a lot of the projects and flipped a couple houses in 2000. Made a little bit of money. First house I did, I spent four months doing it. [00:08:00] Worked a ton. I made $4,000. So some would say that was like a giant waste of time, but it was a huge education and that really started to give me the bug was when I started to make some real money on the flips.

After that, started buying some more properties, started doing the burr method to build my portfolio. . And then ultimately I got recognized as being, I guess an A player in my market. So I got invited to, I would say, more of an exclusive meeting with all the people that were very active in the space. I went, I felt like I was an imposter when I walked into the room.

When I walked out, I was like, these guys aren't any smarter than me and these guys are doing seven figures a year. How can I be like these guys? And so then I honestly just got to. Learning about their businesses and copying them. and behold, COVID happened and a lot of them faded out because they had a lot of overhead, didn't have a lot of gusto, and I was able to rise up.

And now fast forward to right now where I'm at. So we did our first deal off market as a wholesale deal in May of 2020. We are actually closing our 200th deal here tomorrow [00:09:00] since we started. So that's in about what almost. Almost three years, about 200 deals. I run a completely virtual team.

We do it around the country, and as you alluded to at the start, my current endeavor is I am working to productize the wholesale business. And make it so that anyone can benefit from the systems and the process that we have built out. They're basically becoming a partner of ours and running like hiring us as a service to run in your market so that you can have all the upside while we continue to scale the system and everything that we've become good at.

Matty A: So I definitely want to dig into that cuz I've been in the wholesaling, I started off wholesaling to invitation homes and us homes when they were, this was back in 2010 when foreclosures were everywhere. And that's how I got my start into working with hedge funds and wholesaling.

And obviously I don't spend too much time in the single family space anymore. Every once in a while come across, a good wholesale deal from a good wholesaler, but the industry [00:10:00] has, really. Evolved over the years. And what you have done and, set up first zero to 200, deals in less than three years is insane.

But it's possible. And I love that you have really found a way to simplify this process and to really package up the process in a way that can be repeatable. Scalable and ultimately right duplicated for other individuals in other markets around the country, which really creates this opportunity for collaboration in markets all around the United States.

So talking about wholesaling and what you think the problems are of wholesaling in the industry as a whole and what you guys are doing differently, I'd love to start there.

Mike DeHaan: Yeah. think the biggest problem with wholesaling as a whole right now is that it is sold by gurus as a get rich quick scheme, which does a couple things like a, it [00:11:00] discounts the skill level and the cap that you actually need to run a successful real estate wholesaling business.

Sure, the barrier to entry is low for somebody who can go and. Con a grandma to sell their house for a discount, right? Or can go and get lucky getting a deal somewhere. But to actually run a business, it is a very expensive business to run and it is very challenging and it requires a lot of knowledge of the real estate transactional process, even more so than the real estate itself.

So those, that, that is one big problem. The second big problem with it is that as it has become more popular, there is. Really big rise of, I would say like real estate related products that are meant to make it easier for people to do. Like a lot of these pay, pay per lead style of companies, right?

Where like you're actually buying a lead for say, a thousand bucks. These different call centers, these different, all these sort of things, but none of them actually. allow you to execute. And the, and like the metrics that they go on and that most [00:12:00] uneducated people in the space lean on is it's effectiveness is based off of the leads that come in.

Yeah. But they can just especially with call centers, we see this a lot. If someone answers the phone and someone's willing to talk to the call rep, they'll consider that a lead and they will submit that to the client. So then what happens is you end up with these people. , these wanna be wholesalers who hire these call centers who are talking to hundreds of people who are not motivated.

They don't actually wanna sell, but they feel like their lead production's being productive because they see their c r M building up. So what it does is it creates a ton of work, very little productivity, and the only person who gets rich at the end of that is the call as a call center. Yeah. When they, are doing it a bunch across a bunch of people.

And we participated in a lot of these, like we've used a lot of these service. And what we ultimately realized was generating leads is inherently not the hard part. What is difficult is having a system and a sales process around closing those leads. And so we said how can we bring that to people instead of just the lead gen?[00:13:00]

So ultimately what we've built out is it is a now where we have our lead generation process that we run in every market. It's a combination of direct mail, sms. Messaging and then we build a very heavy brand with a lot of web retargeting behind. . So we push people to the website and the whole concept is the same as every marketing business of someone needs to be exposed to you 14 to 17 times for they willing to do a transaction.

We try to escalate that by combining, the gorilla tactics, the s m s and the direct mail with this very robust online presence, people get exposed to our company. Very quickly. So we bring that, we copy and paste our proven brand with a Google Track record in your market, and then we also provide a sales team with that as well.

So you're not like having to figure out how to do follow up on your own. You're not trying to figure out how to do sales on your own. We already bring that person that we know how to train, we know how to systematize, and we just plug them right into your market. And with this business, because we do it at such [00:14:00] scale,

Ultimately what has turned into is we can now go and plant this and run this in your market for cheaper than somebody can do on the by the. because we know we're sharing resources across, the staff and across the systems and across everything. To the point that we've actually had some people that have come and worked with us, they'll like see the cost.

They'll do all this I think I'm gonna go do this myself. And then it ends up costing them more. Then we charge, once they pay for their C R m, their data, their VAs, they're cold calling, dialer, all that sort of stuff. It's, We're able to rinse and repeat this in pretty much every market that we've been to in a very efficient way.

It's amazing,

Matty A: dude. I love the, the benefits, right? Of getting experience, economies of scale, so many things with, proven systems and I know that is right. Coming from an engineering background, one of your areas of expertise. Talk about your sales and marketing process and ultimately how.

people are doing it wrong. , and maybe they don't even need to figure out how to necessarily do it right. But how you [00:15:00] guys, by partnering accordingly with the right people, can allow them to accelerate getting to a place of profitability and the benefits of having a really strong sales and marketing process.

Mike DeHaan: Yeah. So the number one thing that a lot of people like, like they, that they don't understand about hosting real estate is it's very rarely about the. It's very rarely about the price. It's a people-based business, even more so than traditional real estate, right? Because especially these days, when there's a housing crisis a lot of people don't have anywhere to go.

Like a lot of people will rather just sit in their house or getting foreclosed on for another six months, at least they know they'll have security for the short term. , you have to learn to focus on people's problems and overcome the hurdles that are in front of them. So more often than not, we are, we are spending time, we train our guys to get good at building these relationships, learning the legal processes of overcoming, different foreclosures, overcoming [00:16:00] liens, overcoming family situations that have created distresses with the property.

and honestly, more of our time is spent working with title companies and lawyers and accountants and all these sort of things more so than even on the property. And most people when they get into this, they wanna be a real estate investor. They care about the real estate. And what happens is when we, some of our, most of our partners, they fit this avatar of they wanna, they want the opportunity, they understand that they need to work with the people, but they.

right? That's not, it's not their thing. They didn't become a real estate investor to deal with people's baggage. So we take over that for them, right? So a lot of our sales reps, they have more I would say like hard sales backgrounds or relationship focused backgrounds.

So like insurance sales, Like security system sales, things like that where people will tell you no very quickly until they trust you. Whereas like realtors and people like that, they focus more on, what's the value of the house? Like how is my. ego helped me sell this house and all that sort of stuff, which isn't what [00:17:00] does gets you success in this.

And people are able to figure that out on their own. But ultimately it comes down to people don't want to because that isn't what they signed up for when they started pursuing these opportunities. So that's like the. Focusing on that has allowed us to be more successful because that expectation is set with our team.

They go into the conversations with that in mind, and a lot of our conversations with sellers are more in that direction versus the actual house and the offer.

Matty A: Now a lot of people have the living beliefs around virtual assistance, right? And I know you heavily run and scale your business off of virtual assistance to really live the lifestyle by design mantra, right?

Having a virtual team gives you the capacity to really work anywhere you want to, anytime you want to, and still have the proper support and the right team. How have you approached building such a successful virtual assistant team? What's your mindset around that? And what do you think some of the people that have failed, with virtual [00:18:00] assistant teams are overlooking and might, wanna revisit?

Mike DeHaan: Yeah. So when it comes to our virtual team, I would say it's more than virtual ASTI assistance. We have virtual staff, right? So we have, several people that I would classify as assistants in the way that they do like admin, administrative work. But we have high quality virtual staff as well.

The makeup, the crooks for business. So for example, our web developer he has 15 years of experience. He's based out of Romania. We pay him a salary of $24,000 a year. . But for having someone with that little experience in the United States would cost us like a hundred grand, right? Yep. 85,000, whatever it is.

But he's just as good as people here, if not better, honestly. And he's very gripper of the opportunity. Cause he comes from a country where the average annual income's $800 a month. Okay. We pay him almost three times that. As we have approached this, what we have looked at is these different roles.

What are things that really. , like honestly need to be US based. And what ones like what roles do people in other countries probably have the skillset for? [00:19:00] And. as we got into that, really what it came down to was the only stuff that needs to be American based, honestly, is the acquisitions managers, the sales reps.

Because having the American accent and the understanding of American real estate culture is very important. And that doesn't really exist in other countries, but every other role that we have, from our. Like I said, our web developer our video editors, our marketing managers everything else is all virtual or virtually based, and we pay people good money.

And it's not just like they're all from the Philippines. We have people from the Netherlands, we have people from, we have a guy from Romania, people from Central America couple people from India all over and taking like the concepts of the systemization around that. Makes it, hiring those people is no different than hiring American people, and a lot of people seem to think that it is for some reason. You still have an interview, they still have resumes, they still have ambitions, they still have their own life goals that they wanna do, and you just treat them like every other employee, and then surprise that they perform like a regular employee.

It's not rocket science, but people always try to make it [00:20:00] weird just because they live overseas. And so we've built that out and. doing that too is one of the reasons our business has been able to be successful because we've taken those same methods of systemization and put them into our sales team.

So like even now we're working with this partnership program that we have in 12 different markets. Our sales staff are based outta Washington State, California Colorado, and we're currently looking at another one's down in Texas. And because we built our business with this virtual office place in mind, it's very easy for us to have a very large hiring.

and to drop our systems for this partnership program in any market because we established that from the ground up when we initially started. And also too, for me as a business owner, I have now been a part of closing deals in four different continents. , just because I don't have to be here to manage it.

I've managed deals from rural Africa. I've managed deals from several places in Europe. I managed deals from South America you name it, . It's all, it doesn't matter where you are anymore once you build it at the general foundation. It's amazing,

Matty A: dude. So walk us [00:21:00] through. an investor that is maybe either already investing or they're thinking about investing, like who is the ideal partner?

For your company and how do you go about identifying who the right person is, what the right market looks like, and how you know it's gonna be a successful, synergy and relationship.

Mike DeHaan: Yeah. So I'll backtrack just a tiny bit really quick. One of the reasons this whole model came about was because when we started to scale our wholesaling market outside of Spokane we had reached the.

the bang for our buck and our marketing dollars here. Populations had been maxed up. We started going virtual and we found that there was these repeat challenges of knowing the neighborhoods, knowing the demographics, having connections with key players there, whether that's buyers for wholesale deal deals contractors, inspectors, whatever you need.

Finding those relationships and nurturing them was very hard from a distance. On top of that, you're an outside investor going into most markets. [00:22:00] Buyers are less likely to wanna do business with you cause you're encroaching on their turf. So we originally started doing JVs with people where we would, partner with them, we'd split out the costs, and then we would, just like split deals 50 50 as they came together.

But then ultimately they'd be like wanna keep this one, but I also want a good deal. I don't wanna pay you, I wanna flip this house. All this sort of stuff. So we just said, let's nix it. What if we just received, what if we just did it as a service for these people? . And we beta tested with a couple people and it worked out really well, and our partners started making a lot of money.

So the ideal person that we're looking for is somebody that. Has, they're hungry, right? They wanna, they want to close some deals. Like they're willing to pay a little bit of money to jump the line and not have to build a system and process over six to 12 months. They want to start being able to close deals in as low as a couple of weeks, right?

So they're hungry there. They have a knowledge of the market. They ideally have some sort of connection with other investors. Like they not necessarily need to have a buyer's list, but they have to know people that are buying [00:23:00] off market properties or they have to have a strong buying position themselves.

We have a couple people that we work with that are career flippers that they buy. Everything that we find, they work out, that work out, that works out great. . And honestly, really that's it. What we don't want is the people that are like new to real estate, they don't wanna commit any time to it.

They're not really interested in helping underwrite deals and all that sort of stuff. But if you like, find yourself that you like, know that you have the itch to do big things and you know you have the hustle, you just don't wanna build the backend and spend a year doing that's the person that we're looking for, i. So what does

Matty A: the startup investment of cost look like? If what does that process look like in terms of how much outta pocket is somebody gonna have to, make sure they have available? Obviously, if somebody's like, Hey, I got plenty of time, plenty of energy. I'm ready to get after it every single day, but there's some upfront investment, what does that look like?

Mike DeHaan: Yep. So we tell people that ideally have about 30 grand to be able to start just because that's what it's gonna start to, that's when it takes, start getting some traction. And what that looks like is, so our [00:24:00] service per month is $5,000. Okay. And, some people say that's a lot. What I, how I frame that is you're basically paying for a $60,000 a year employee.

But you're getting an entire team and entire system Yep. With that, for that same $6,000 year employer. So $5,000 is our monthly fee just to manage the system. And then the direct mail that we do run, we do bill at cost we do get things direct mail, typically about 20% discounted from our mail house.

Again, because of the volume that we use, we get stuff cheaper than most people can. And we recommend on average $5,000 a month in mail to build up that lead generation. and then time to close. The first deal is usually two to three months. So say basically 10 grand a month. For the first three months, that would be 30 grand.

And at that point we should be closing deals pretty consistently. And what the flow looks like is. , you connect with our team, we get your basic buying criteria. We put together our marketing plan, we verify it with you, and then from there, you're honestly pretty hands off our team orders the [00:25:00] marketing, everything goes out.

We have s m s that we do in house that runs all the time. Our twenty four seven call center receives all the leads, our lead managers do all the verification. Our acquisition managers have all of the complex conversations. And when we find someone. That has some sort of motivation. Either they want to close quick, the property's distressed, they have some sort of personal motivation any of that sort of stuff.

Then we engage with the client and we say, Hey, this deal's worth looking at. Will you help us underwrite it while we learn the market? Get a general idea about what they'd be willing to pay for the property, what they think a good deal is, and then we do all the negotiation after that. So ultimately, once it's establi, and kinda like our star client up in Maine.

He closed $125,000 wholesale fee this past week. And I was talking to him about it after that, and he's right now, man, he is . Honestly, I have so much time I don't even know what to do. He's he has 10 to 15 hours of work that he does for us When we have hot deals come through.

He works a little bit more to help get stuff closed. He's finding buyers, all that sort of stuff, but it's just plug and play and he has all of the upside now that we have [00:26:00] that sort of cadence and everything established with him. , we've been able to take the lifestyle business I've built for myself and now provide it to him just because we copied and pasted the same system that I've been running and living off of for the last couple of years.

What is

Matty A: The big grand vision? Obviously , something that is, is a business model, but I always, one of the things I love about businesses that are built around real estate is, generally those businesses, by being in proximity to real estate, consistently find ways to, Generating wealth generating opportunities and cashflow opportunities for the people in those businesses.

So in terms of what is the business goal? What's the wealth goal, what's the lifestyle goal like, what's your vision as you see your company, taking

Mike DeHaan: off. Yeah and this is something that we hired a business coach this year to help structure this and figure this out, which has been a new one for me because honestly last year, 2022, I traveled for 12 weeks outta the country.

I did a five week road trip across Africa. I did a big road trip around Spain and Morocco. I did all these sort of things and I had a pretty sweet lifestyle, which was always my goal when I started. [00:27:00] And as we wrapped up our Africa trip, I started having this itch for I wanna do something bigger, which is why we decided to.

Big into this business. So our goal with this is to be able to do this in 50 50, all 50 states. That's kinda like my big hair audacious goal. I think it would be super cool. As we can say, we're one of the only wholesaling businesses that is wholesaling in all 50 markets, and I can comfortably say that we would be the wholesaler business doing that even though our clients have the upside because we are still running the sales team.

We're still doing the process. Okay. And it's funny, a lot of people they say, why would you do that versus just wholesale yourself in 10 different markets? Ultimately it's because for us, establishing and maintaining those relationships with different markets is hard. So having this partner becomes like Our who, not How for that, right?

And the exchange is that we make less money, right? For like per deal in each market, but we can scale our system, which we're good at on a very massive. . So net is gonna be, almost better for us than if we're trying to Yeah. Always be herding cats in these different markets. I love it. [00:28:00] So ultimate, yeah.

So our big goal with it is in the next three years, if we can get it large enough systematized to potentially pursue an exit. Our business coach right now he, he has an experience selling off both a property management business and a marketing business to private equity and. The structure of this business as it's built out, I think it will have value, not only as a revenue generator with the clientele and the systems that we have, but also too, if there was a private equity company that was like I wanna run this purely for my own prospecting.

For my own investing to buy a. Discounted deals. There's no reason they couldn't buy it and like butcher it and turn it into that, which I think would be extremely valuable to people, especially as institutional money is buying more and more residential real estate.

Matty A: Is this something that only applies to single family or is there a commercial aspect and approach that you guys have been exploring and provide as well?

Mike DeHaan: Yes, that's a great question. So we've had several multi-family people and different larger asset people approach us to work with us. We have a slightly different model that we do with them that is more discounted price. So we [00:29:00] do basically $1,500 just to run the marketing and provide our call center and our lead managers on the back end.

So we don't provide the sales rep that we. Mostly just because having sales reps that are sophisticated enough to discuss larger assets is more challenging. Yep. And because they'll work off of a commission basis, it just doesn't fit our general model. But we do have several people we've been working with as well that are doing multi-family assets and they've been having some good success.

The only stuff we haven't really dabbled in with, and I'm sorry, hesitant to is mostly self storage just because the way that those. , those sellers exist. There's such a huge presence of institutional money and the we played with it a little bit. The response just wasn't working.

And it's just a, it's a different kind of marketing model than we have that's more relationship based. But we've had success with mobile homes mo, sorry, mobile home parks, multi-family properties, triple net commercial. Even one of our clients down in San Diego has been closing some triple net commercial deals, so you know, it.

it's all a product a [00:30:00] systematized marketing system that can work with everything that's given enough time. I think where most people they experience shortcomings, whether they're doing Azure lead generation, is they don't give enough time or systemization behind it.

Matty A: Yep. Mike, I know a lot of people are gonna want to probably engage and check out what you got going on, brother.

Where is the best place to send them for more information?

Mike DeHaan: Yeah. A lot of the stuff is under the umbrella of my podcast. It's like our main marketing channel. It's how we build a lot of resh relationships with people. So it's called the Collecting Keys Podcast. And if you go to collecting keys, you can schedule a call with me to discuss this general part of our business.

We also have some other things that we monetize to the podcast as well through a mastermind and all that sort of stuff. But for this particular program we talked about today, collecting keys, the best place to.

Matty A: Mike, wanna appreciate you for coming on the show, brother and sharing what you're up to.

This is, I think, something that is gonna create a ton of value for real estate investors all over the country and seeing how you've continued to grow and [00:31:00] scale your business as well as obviously just seeing you continue to evolve and scale yourself and your life is inspiring and grateful to know you and we appreciate you coming on The Millionaire Podcast today.

Mike DeHaan: Awesome, man. I appreciate it, man. Thanks man. Thanks so much for having me. I appreciate.