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Show Summary
In this conversation, Vince Honer shares insights into his unique approach to real estate, emphasizing the importance of personal outreach, networking, and persistence. He discusses how his background in football has influenced his work ethic and discipline, and he highlights the significance of building relationships in the industry. Vince also addresses the challenges of wholesaling and encourages listeners to stay persistent and leverage available resources to achieve success.
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Investor Fuel Show Transcript:
Vince Honer (00:00)
Mm So like for encouragement, I would just say what we’re doing isn’t easy. If it was every single person would do it. And also, you have to be extremely persistent, not in the fact that you have to like, like I said, you don’t have to work 12 hour days. But, you know, when you’re wholesaling a deal, you’re making 10 2030, even $40,000 in a single transaction. It’s it’s not easy. So likeA lot of things you see online, especially nowadays, make this seem super easy. But what people are saying is true, you can make 10, 20, 30, $40,000. But it’s the process is simple, but it’s not easy. You have to be extremely persistent. So persist. Keep doing what what you know you have to do and just don’t give up because you could go for
15 months without doing a deal and then do 10 deals in the next six months. So just don’t give up.
Quentin (02:24)
Hello, everyone. Welcome to the Real Estate Pros podcast. I am your host Q Edmonds. Super excited to be here today. Excited about my guest. He’s very good at finding a deal. And what I love when I was talking to him, he’s very unorthodox about how he goes at it. When I say that, I don’t mean that in no kind of scary way, he’s unorthodox with the way he thinks, the way he sees a problem and want to solve a problem.I mean, the way that he goes about it is really just in a very unique way. Very personal. he, listen, when he’s dealing with you, it’s a personal touch that you’re going to get. You personally want to know what you’re doing, where your head space is, how can he serve you? And so I’m super excited. I’m super excited to dive deep with him. That’s one of the things that he do is dive deep into what Dale did, look at the dad and let the dad lead. And so I’m very, very excited to introduce you to Mr. Honer
Mr. Vince, how you doing today, sir?
Vince Honer (03:20)
I am doing very well, no complaints from me. Thank you for the introduction, that was awesome. Yeah, for sure.Quentin (03:24)
Was it a good intro? Yeah, listen, I’m gonna be honest.Yeah, I tried to pride myself on my intros, man. And I don’t think I said anything that was too far off, man. And I think as people get to know you and as you unpack what you do, I think that introduction is gonna line up exactly with who you are and how you process. And so Vince, I’m gonna be honest, man. I wanna take us into your world. I wanna dive in. I want you to tell the people what your main focus is these days.
If you want to give us a little bit of an origin story about how you got started at what you do. We love origin stories. And also, man, I was going to say, but I want them to hear from you. Tell us what part of the world you’re in and what markets you’re operating in. And so my brother, Vince, you got the floor, sir.
Vince Honer (04:55)
So I am in the Chicago market and specifically I live in the northwest suburbs a lot of our deals come from The south suburbs and also the suburbs where we live ⁓ for an origin storyI think my origin story is probably similar to a lot of people I saw online, like how to make money fast in real estate with zero money. ⁓ So I saw that online when I was in high school in my senior year. I had like the chance to go play football in school or just go all in on this. So I decided to go all in on wholesaling and that was 2023. So I went all in for a year, got a mentorship. ⁓
and just did what my mentor told me, which is just cold calling for about a year. I didn’t do didn’t really have any traction. And then in June of twenty, twenty four, I did my first deal. And since then, we’ve done 17 deals. So about one a month. Some months we do three. Some months we are slower. We do zero. But ⁓ yeah, we’re pretty consistent. And we’ve done 17 deals in the last year or so. So.
Quentin (05:58)
I love it, man. I love it, man. Thank you, Vince. So it seems like, because you know, the art of cold calling, a lot of people don’t have their art no more. So it seemed like that’s a strategy that have served you well.Vince Honer (06:10)
Yeah, for sure. All of our deals have come from cold calling on deep data. So we look for multiple data points like absentee owner paired with tax delinquent or ⁓ vacant with tax delinquent or absentee out of state. And then we cold call, we hand dial on our phone. So I think with the phone, you get a better contact rate than you do with a dialer for sure. ⁓per 100 calls we’re making, we’re seeing one to two leads usually. Some days it’s more, some days it’s less, but, and then we go super deep. So like if there’s a house and the Google street view is clearly abandoned, we won’t just stop at that first number or that first person. We’ll search up the owner’s name with obituary at the end and look for the heirs if they’ve passed away or we’ll call the ⁓ owner’s siblings or their parent and leave voicemails and text messages. So we go super deep.
Quentin (07:06)
Yeah. Yeah. I love it, man. Now I want to talk about, you know, I see your business strategies. I want to, I want to pick on you a little bit about your personal strategies because one, you just said you had the chance to go all in on football, right? And so playing football, I mean, it has to come with some type of discipline, some type of work ethic. And then also like you are, you are unorthodox thinker, the way you approach things. So what are some personal strategies that you cankind of point to you that you really feel like helps you out in life and maybe helps you out in business.
Vince Honer (07:37)
Mm hmm. So like this goes along with football a little bit. You just, if you really want something, you got to work hard and just be disciplined every single day. Maybe not go spend 12 hours a day doing it, but you have to be at it every single day for sure. And just staying disciplined. If you have a goal in mind, just keep at that goal and don’t give up even when it’s super hard and you have no traction at all. You just have to stay very disciplined, very focused on.what you’re looking to achieve and figure out what you need to do to get from where you’re at to where you want to be. And that just requires discipline like anything. So that’s one thing I learned from just football and life in general is you have when it’s hard and it’s tough, you just got to keep going and keep your goal in mind and stay consistent.
Quentin (08:22)
I love how you said even when you don’t, if you’re not getting traction, right? I love how you said that. mean, if you ever watch wheels spin, whether on snow and mud, like you said, you’re not getting traction. So sometimes you gotta use something to leverage your traction, right? You gotta put maybe a piece of board or a piece of wood or piece of carpet, something under there to get the traction. And so it sounds like to me, you’ve gotten traction. And so I would love…if you could talk about how you got that traction. And I’ll frame it like this, because there’s success, but there’s the journey to success. So there’s times when moments, when deals go sideways, when things get real, when you have to pivot fast. And so is there times where you wasn’t getting traction and you had to find a way to kind of get the traction that you need.
Vince Honer (09:09)
for sure. So like, like I said a little bit earlier, I went over 12 months, like 1415 months without doing a deal while I was trying to do a deal. ⁓ and one thing that helps me a lot was I had a ton of leads and I even had a property under contract for like five months, but I didn’t know how to put it through title, figure out like the backend of the deal.So one thing that just helped me was meeting people who were actually doing what I’m doing. Um, and just getting advice from them. So like I had a deal I got under contract in December of 2023 and I close it until June of 2024. But what got that deal closed was I met someone who was a little bit older than me, but he spent wholesaling for a while. And I just brought him the deal and I said, dude, I can’t, I can’t figure out how to put this through title. I hired a local attorney. He couldn’t figure it out. He wasn’t familiar with like.
Quentin (10:31)
yet.Vince Honer (10:35)
investor real estate. that person gave me a local title company that’s like all investor friendly, and they were able to actually close the deal.Quentin (10:46)
Mm, mm, mm. No, I love that man. I, you know, we probably talk about relationships a little bit more, but I love how you said meeting people that helped you and how you had the, again, forward thinking, you know, not being stuck in your ways, not being stuck in ego, the, bring somebody else to deal, bring a lawyer to deal. Like, hey, what do you see? How, you know, how can you help me here? And so I love that mindset to show a growth mindset to get other people sometimes involved with helping.when maybe were you stuck or you can’t figure out or you can’t find the vantage point that you’re looking for. So I think that’s a great message to send to people because sometimes if you stuck, the way to get unstuck is to ask for help. Sometimes you just need some help, you know? And so that’s beautiful, man. Let me ask you, brother, what’s the long-term, like what’s the goal? Like what are you looking to solve or scale next in the business?
Vince Honer (11:25)
You’re a genius.I want to get into affordable housing, ⁓ especially where I live. Housing is very expensive, even in areas that aren’t so great to live. ⁓ So I want to continue doing what I’m doing with the wholesale and get into actually taking down the deals myself. So flipping. And then from there, I want to buy affordable housing, buy houses at the tax auction.
with our marketing strategies the same way we’re doing right now and then actually take down the deal and hold them as rentals and provide affordable housing to some of the areas in our community that really need it.
Quentin (12:11)
Yeah. Absolutely, man. What, I mean, you, I hope you don’t mind me bringing up your brother. You haven’t brought him up much, but you brought him up while we was talking. What was the thought process of going into business with your brother? Like, how did that come about?Vince Honer (12:25)
He was doing EMT paramedic work and he’s only a year older than I am. So he was doing that and then he saw that I did a couple deals and ⁓ he wanted to get on board. So he left his job and just started cold calling. That was last October. He left his job, started cold calling and then…In December, he got two deals under contract and moved those deals. One was a 17k spread and the other one was like 35. So after he did that, he was he was all in. So he saw that I was doing deals. He saw that, you know, what I was talking about actually is possible. And he just went all in.
Quentin (12:55)
Yeah, yeah.Yeah, yeah.
Yeah. And you said, that’s, that’s he’s big bro. You little bro, but you, flipped it on him. He was like, big bro, let me big bro you, let me send you for a second. Let me show you how to do this. I love that, man. It sounds like y’all have a good relationship and I want to talk about relationships for a little bit, man. ⁓ What is your perspective when it comes to building relationships? Like have building relationships made a big difference for you?
Vince Honer (13:16)
Yeah.Quentin (13:32)
Now I know I’m framing it that way. If it hasn’t, it hasn’t, but if it has, I would love to know about it.Vince Honer (13:37)
super important, super important. think like who you know in this business is everything. ⁓ Building relationships is super important. Like when I was starting to do deals, I, there was a big buyer in my market and a wholesaler and buyer. And I hit him up with a couple of deals and he’s like, these deals are bad. These are horrible deals. But I knew he was buying a lot of real estate and also wholesaling a ton. SoI was maybe my second or third deal I had, I couldn’t move it, but I reached out to him, asked him if he wanted to buy it and he didn’t want to buy it, but he was open to JVing it with me. And that was huge because he really showed me and showed me how he does dispo and didn’t show me, but he dispo the deal. So I got to see and ⁓ he got like, he got like 10, 12 buyers in there. All of our offers were, I had the deal at like one.
42. We were getting like 135 offers 140 145. And he was like, we’re gonna move it. We just got to get more people in there. And we got a ton of people in there. And we got a 180 offer.
So from there, it kind of clicked. I was like, oh, like, when you’re moving a deal, you, you got to go heavy on dispo, you have to really show the deal market the deal. And that kind of led to how we dispo all of our deals now. So
That was super helpful and that kind of led to exactly how we run our business now. So it’s super important to, to about who you know, rather than what you know. And if you’re able to kind of extract what you need from people who are doing what you want to be doing, it’s huge.
Quentin (15:54)
Love it. I love it, man. Nah, man, relationships is everything in this space. And I say in life, man, I always say people are the real currency. Like when you invest and build up your stock in people, sky is the limit. Deals are made, legacies are made, like lives are changed. And so I always say people are the real currency. So listen, man, you you said yourself, you have an unorthodox way of thinking.unorthodox way of going at things. so because I got this, brain here, I just want to ask you, is there any kind of encouragement, any kind of inspiration, education, anything that’s, that’s, that’s maybe on your mind that maybe you can leave with the people that you feel like would really help them out rather is, you know, of course, but real estate or in life, like I would love to hear anything that you have to say to people.
Vince Honer (16:46)
Mm So like for encouragement, I would just say what we’re doing isn’t easy. If it was every single person would do it. And also, you have to be extremely persistent, not in the fact that you have to like, like I said, you don’t have to work 12 hour days. But, you know, when you’re wholesaling a deal, you’re making 10 2030, even $40,000 in a single transaction. It’s it’s not easy. So likeA lot of things you see online, especially nowadays, make this seem super easy. But what people are saying is true, you can make 10, 20, 30, $40,000. But it’s the process is simple, but it’s not easy. You have to be extremely persistent. So persist. Keep doing what what you know you have to do and just don’t give up because you could go for
15 months without doing a deal and then do 10 deals in the next six months. So just don’t give up.
⁓ Everything you need is online. There’s so many resources online, so much information out there. just study, make sure you’re filling yourself with other people’s knowledge and don’t give up. And it’s super achievable and very possible.
Quentin (17:53)
Yeah, yeah. Man, listen, Vince, man, thank you so much, man. This was a pleasure getting to talk to you, getting to pick your brain. And I know you added so much value to this platform. So if someone wanted to reach out to you, connect with you, collaborate with you, learn more about what you’re doing, what’s the best way for them to reach out to you,Vince Honer (18:13)
My personal Instagram is just my full name, Vince Honer. And then for like JVs or anything like that, you could reach out to my company on Instagram and my website, which is DiStefano Family Homes. That’s all my social media and then also my website.Quentin (18:31)
Listen, man, again, sir, thank you, man. Thank you for your time, for your story, for your perspective, the way you see things. It’s really been refreshing, man. And so thank you for taking the time out to be on today.Vince Honer (18:42)
Thank you, Quentin Thank you for having me on. It ⁓ was a good time. I appreciate everything.Quentin (18:46)
Absolutely. Well, listen, y’all heard Mr. Y’all got the nuggets. You got the value. Listen, make sure you are subscribed. That way you do not miss out on the amazing people that we’re going to continue to bring up just like Mr. Vince. And so Vince, thank you again, sir. Appreciate you. And to everyone else, we’ll see you on the next time.
