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in this video i'm going to show you how to find the perfect wholesaling friendly title company for your business so here's what i'm going to cover in the video the first thing is i'm going to teach you the ideal situation parameters for locating this type of title company to help out your wholesaling business i'm going to walk you through the criteria the actual questions so called the interview that i share in locating all my wholesale friendly title companies and last but not least i'm going to show you how to easily duplicate my system to find local title companies in your area that will help you out with your wholesaling business guys this is absolutely key to your wholesaling business your title company will make you or break you so before we get into the video i need you everyone do me a favor just go ahead and like hit the subscribe button and i'm going to provide you a ton of content and i'm going to share in my 19 years experience of how to locate these friendly title companies that will help out your wholesaling business so let's dive in first thing we want to do is identify what we're looking for in these title companies so i basically have four key criteria number one you want to locate small mom and pop title companies well rick why wouldn't i just want to use like a big giant corporate title companies if you see in your search when you're looking for title companies if you see they have 30 40 locations or they're in all like 50 states do yourself a favor avoid them what they do is they burn and turn employees like a large corporation and you're typically gonna get very inexperienced people and they're only gonna cater to what we call retail transactions that focus on real estate agents stuff that's on mls we don't do those types of transactions so why do we want to do business with them they're not going to cater to you no large corporate chains of title companies in my experience over 19 years they just don't work occasionally we have to use them but i'm not taking my business to those title companies we want to locate small mom and pop shops usually one individual owner in your local town maybe have one offices the max is four or five within your geographic area do me this favor it will save you a ton of pain in your wholesaling business number two make sure the staff at the title company especially the owner and most importantly is the receptionist at the front desk if you do not get that warm bubbly feeling or they're constantly putting you on hold heed the warning that's how they're going to treat you and you've got to understand this you're sending your clients there and remember we're in a yes we're in real estate but we're mostly solving people's problems if they're rude to your sellers and you have it under contract you're going to make them feel uncomfortable and a rude staff can actually unwind your entire deal so number one we're gonna locate mom and pop shops number two you need to have friendly people if they answer the phone and they put you on a hole without even addressing you i'm probably going to move on at that point the next step is when you walk in you want to make sure you're greeted with a friendly kind person with a smile and it always helps out number three after i walk in the title company or if i'm just doing it over the phone and i'm going to teach you the criteria you want to see if they're working with investors now there's several ways to go about this a lot of times i'll print it on some of their marketing material on social media a lot of times they'll just have like a pamphlet in their office we work with investors you'll see testimonials of deals they've taken down with investors listen to what the girl at the front counter says because she is the gatekeeper if she says we don't really work with investors or worse cases she says i don't even know what you're talking about heed the warning the owner might tell you one thing but the girl at the front desk she's in that place usually eight to ten hours a day and she knows if she's talking with investors and a lot of times they'll give you your their opinion of what they think of investors so a simple qualifying question when you initially meet with a title company or say you're thinking about using a title company on a previous transaction you've done in the past for your wholesaling business do you guys work with investors shut your mouth up use your two years and see how they respond if they respond positive move forward if it's negative move on to the next mom and pop after that if you're comfortable from that what i would do is set an appointment to meet with the principal the principal is just a fancy word for the owner of the company if it's a true mom and pop shop you should have no problem setting up an appointment to meet with them i would do this in person doing it over the phone is very informal and you're not gonna like you're just not gonna win them over so think about how we teach you how to work with your sellers you wanna do this same process with your title company so now you've set the appointment and you can't just walk in and hammer the owner you got to give them some time because they don't know you so maybe the next day or next week you're going to go out so in this next step i'm going to walk you through the key principles on how to ask the right qualifying questions to get the most effective wholesaling friendly title company for your business now these questions i've accrued over 19 years i have used hundreds of title companies i have basically two main title companies i use in my business and then if i have to use an outside title company i'm very strict on the qualification purpose let's roll through the question so you're gonna sit down you're gonna treat the owner of the business just like you would treat a seller you're going to build some rapport and you're going to sit down and ask them some questions and the first thing is i'm going to go back to do you work with a lot of investors shut your mouth listen to the response and they're probably going to go on and on yes we do because you've gotten to this point and i'm going to ask them how many investors do you work with approximately why is that important because the more investors they work with the more situations they've been exposed to and the easier it is to dial them in to your wholesaling business you're not here to teach them wholesaling guys they're supposed to be a compliment to your to your business now they're not your employee but they are a key member of your team so if you're an individual operator i was for the first seven years of my career i will tell you the title company was probably the single most important key team member in my wholesaling business so i want you to understand that find out how many wholesalers they're working with the more the merrier this is not competition if they have 10 or 15 investors that's impressive i'll be honest with you most of them work with three or four at most with one or two of them predominantly doing most of the transactions and then a guy bringing a deal here and there the next thing is what percentage of your business is from investors are you going to get the truth on this i don't know but you're looking for something like at least a 20 margin on this why is that important because most title companies are geared towards retail transactions retail transactions take a long time realtors bring a lot of drama if you're a realtor don't take it personal but there's a lot of drama in your deals investors have a different type of drama but we have problem transactions and it takes experienced people to help you out with it if they say i only deal with about one or two percent investors that's kind of a check on your previous question is how many investors do you work with if they say they work with 15 or 20 investors and it's only one percent of their business someone's not telling the truth here and you need to heed the warning with it the next question we're gonna ask are you okay with assignments why am i asking this guys if you haven't learned by now assignments are the key contract in your wholesaling business you need to be familiar with them and your title company has to be ridiculously familiar on how assignments work so you should have your particular assignment contracts ask them if they have an assignment contract they're comfortable with it and ask them to produce it for you and go over it with you it will tell you if they actually do assignments or not assignments are key and getting you paid in your wholesaling business so these next set of questions are going to be a little bit high level you don't have to completely understand them it's going to let you figure out your title company's depth of knowledge of working with investors i'll go over them in a later video and i'll go in detail but for this one we're focusing on how to get a wholesale friendly title company for you so the next one is you're going to ask do you perform double closings i'll go in detail later and just see what the response is make a mental note of it or write it down the next one you do is do you guys write title exceptions this is just a little trick up your sleeve when you're doing investment deals there's a lot of title issues that come up particularly with code violations they'll tell you yes we did it on this deal we did it on that deal or if they look at you and go rick what the heck are you talking about what's a title exception that's teaching you that maybe they're not an investor friendly title company the next one we want to put on there are you familiar with working with probates i do a ton of probates probates are inevitable if you're working in real estate investing particularly in wholesaling they need to have a firm knowledge of probates i love to get probates done before they're completed if they're telling you to wait till the probate's done heed the warning they are definitely not your wholesaling friendly title company another key question is do you have an attorney on staff a lot of owners of a title company believe it or not they have a law degree and it comes in handy for their business because there's a lot of consultation has to go on legal if the title is clean with the underwriter i don't want to get into it but a lot of times the owner can be an attorney that can be a huge plus for you because you have an attorney built in your title company which is going to make you look like a rock star and actually will save you a lot of attorney fees by the way being an attorney is not a requirement it's just a great question to ask or a lot of times they have somebody on staff or a a consultation an attorney they work with locally so the next one is do you offer discounts for multiple closings particularly the closing cost by the way if i haven't taught you by now in real estate everything's negotiable title companies you have to negotiate before you start doing deals with them or you're stuck okay so you want to find out if you do multiple deals with them will they negotiate on the closing cost say if you bring them 15 20 or 30 deals you should get a better rate than the guy that does one deal every five years correct so if you're buying in bulk you expect bulk discounts so ask about discounts when you do keep your mouth shut when she says he or she says what are you talking about closing fees what are the closing costs if i do a lot of transactions will i get a discount with it and this is an absolutely huge one right here this question is who will be my main contact person at this title company this person has to be you need to meet them right there so a lot of times when i first started with these title companies i would work directly with the principal because they want to make me happy that's the perfect scenario but sometimes they have a girl or a guy that works with them and that's the right hand man they pull title they do searches they work with the underwriters find out who this person is meet with them and see if you click with them and see if they understand working with investors if they have no clue to any of these answers that's your tip that they're not a wholesaling friendly title company so make sure that contact person is accessible and make sure you guys get along because guess what that's the person who's going to be talking to your sellers that's the person that's going to help you close the deal that's the person that's going to save your butt when the deal starts to fall apart title companies are the gatekeepers to getting your deals closed they are probably the most important team member outside of marketing on your wholesaling team so keep that in mind one of my biggest secrets in 19 years is if they cannot answer this question do not use them they are not a wholesaling friendly title company get the contact persons at the title company's cell phone number and make sure they'll answer it for you now don't be calling them asking for cooking recipes or like drink cocktails on a friday night if you're having a problem with a seller and there's a question on the title or there's a question about the closing on monday i need to know if i call you on 7 30 on friday night or i call you saturday morning someone's going to answer their cell phone if they will not give you your cell phone number run to the hills they are not an investor friendly title company to your wholesaling business the cell number is the key to this business because it makes it very personal we operate 24 7 we don't have time zones we don't open and close we operate based on how our sellers respond to our marketing and once we get them all that hard-earned money we need to get the deals done if we need to contact our title company after ours i need somebody to answer the phone rick okay i've got your ideal avatar for a wholesaling friendly title company i have the questionnaire in order on the right questions to make sure i'm getting the right company last thing is rick how do we find them guys this is really simple don't overthink it in 19 years it hasn't changed much so number one just google it it's not hard look at previous transactions you've done maybe personally or with friends just because you closed your personal house with them does not make them a wholesale friendly title company most title companies are geared towards retail mls transactions understanding that very few of them are going to fit this mold the next one we're going to do is once you find the company go online check for google reviews i find them to be very reliable if you see a lot of reviews of like they made me wait forever do this understand they have high turnover probably not going to be your company understanding nobody has perfect reviews but if you only see three reviews and the three negative reviews the company probably just doesn't give a crap about their image and understanding your sellers will be exposed to the exact same next thing is if you find that company go to their social media pages every one of them has it facebook sometimes twitter not so much instagram and see if you can find deals where investors have done deals before don't forget about your local rias a lot of rias are sponsored by wholesaling friendly title companies make sure you qualify them just because they're at that meeting of a sponsor does not make them your wholesaling friendly title company just vet them remember if you follow the path of what other investors doing a lot of times you can make this much easier than it has to be make sure you just locate other wholesalers you're networking with as i said before guys don't try to reinvent the wheel here find other people that are using these title companies just make sure just because another wholesaler use them doesn't mean they're the perfect fit use my questions to qualify them so guys i hope you enjoyed this video do me a favor hit that like and subscribe button i appreciate you guys tuning in and hit that like and subscribe button and i'll see you shortly thanks