I’ve been doing some direct mail and cold calling in a competitive county, and I’m excited because it’s been going really well. With just the initial marketing we did and the deals that came from it, we’ve already covered all of our marketing expenses, paid our VAs, and covered any overhead we need for the business. You can never have too many leads, and you always want to keep your pipeline full. Whether you’re using direct mail or cold calling, you have to keep your marketing strategy going. You’re the one in control, and when you have a full pipeline, you can be more selective with your deals and make a much larger profit.
Head to the links below to grab my new nine-page strategy PDF and to find out more about an implementation workshop I’m doing with my coaching business partner, Gavin.
Listen and learn:
- How I’m doing vacant land deals in a competitive county.
- Why you need to keep your pipeline full.
- Info on my new strategy PDF and an upcoming workshop.
Mentioned in this episode:
Download episode transcript in PDF format here…
Joe: Hey, Joe here. Welcome to REI In Your Car podcast. Come on. Yes. I’m so excited. Let me tell you why. Been doing some direct mail marketing in a certain particular county that is very, very competitive. And I just like challenging myself. You know, I want to prove to all of the naysayers that complain and whine, No, we can’t do it. It’s too hard. And show them that. Really? Are you sure about that? I’m just super excited because I’ve been doing some direct mail and for vacant land in a particular county, it’s very competitive and we’ve been doing some cold calling. And cold calling is working really, really well. We’ve got almost too many leads. Well, we’re just not too you never have too many leads in that fact. This is a real good point I want to make. You need to make sure that your pipeline is always full of good leads. So we’ve been doing some cold calling and we’ve been doing some direct mail. And I was just talking to my team and within a week we’ve already got one or two deals, two deals under contract. One of them was elderly couple, and we actually had to send them in the physical mail, a contract. I don’t know why my guy didn’t send them a mobile notary. I need to talk to him about that. But we in that one deal, just that one deal we’re buying it for. Oh, my gosh, I just hit an hour. Oh, no. Oh, is very softly. I was driving and he swooped down onto the street to pick up something and he saw me coming and started flying away. And I just tapped him. I hope he’s all right. Okay.
Joe: So anyway, here’s the dealio. The this one particular deal where we offered eight grand, they were adamant on $8,956. So it’s worth about. We think we can sell it for about 16 grand, and that’s being very conservative. So we’re going to we’re going to try to sell it for 18 with owner finance. We might be able to get a little bit more if we do owner financing. We’ll see, though. I mean, worst case, we’ll sell it for 16 grand with cash, but we’re buying it for $8,956. So that one deal, our profit will be about six grand. I might have my numbers off because that sounds pretty low. I’m getting something confused here. But anyway, whatever deal it was, there’s we’re looking at two different deals from this one campaign that just happened. So we just sent out a bunch of direct mail and this was and we’re doing a bunch of cold calling. So let me rewind even more than. Okay. We pulled a list of about 17,000 vacant land owners in this particular county, and that’s the most I’ve ever pulled in one county and done in marketing at one time personally for a vacant land. Done that for houses, but for vacant land. Yeah. So we cold called a third with one company and we cold called a third with our own virtual assistance. And then we’re mailing postcards to the other third. So a lot of marketing dollars and expense going into this, right? But here’s the crazy awesome thing with just that one deal. My numbers are off. So we’re I was I was thinking we were going to be netting worst case 8000 bucks. So worst case net $8,000 on that one deal that pays for all of our marketing right there. Just one deal. And we’ve got about 130 leads that we’re working through right now from our cold going campaign. That’s people that have said, yeah, I want to sell, send me an offer. And then we’ve got about so far, only about 25 or 30 leads from direct mail. But we’re sending the direct mail out in pieces. We’re probably, you know, for the same number of leads we’re getting about three or four times the number of leads from cold calling as we are with direct mail. But there are different quality leads, you understand? So with direct mail, they get our postcard. They say, Yeah, I want to sell and know these guys are investors. And then they call us. Right. So with direct mail, the those direct mail needs are more quality, higher quality than in cold calling leaders. So let’s just say we’re getting one out of 20 direct mail leads turning into a deal. We’ll probably get one out of 30 cold calling leads that turn into a deal. So with about 130 cold calling leads right now that we’re going through, that is about four deals right there, 4 to 5 deals. And so far, with just the leads that we’ve sent for the direct mail and we’ve only sent maybe 30% of all of our direct mail leads a postcard. We’re going through it. All right. Now, we’ve got we’re sitting on about at least four deals from the cold calling and one or two deals from the direct mail. All right.
Joe: So my whole point is what, Joe, Come on, get to the point. My point is I’m super excited because with just this initial marketing that we did and just the first one, maybe two deals, we’ve already covered all of our marketing expense and the virtual assistants expense and whatever any overhead we need for the business. So every deal after this is pure gravy, pure profit, 100%. And so I want to I’m telling you this to maybe hopefully inspire you a little bit to tickle your fancy and get you thinking, Oh my gosh, you mean marketing is important? Like, yeah, we’re not in the real estate investing business. We are in the marketing business. And it’s really critical and important that you keep your pipeline full. You got to keep your pipeline full with marketing because you keep on that marketing going out every day, your VAs or you your cold calling, 100, 200 leads, right? You’re sending you know, the cool thing about the new direct mail engine in frost inside of freedom soft you can send ten postcards a day, 50 postcards a day, 20 postcards letters a day. You can spread out the mail. So you’re not just sending a bunch at once. You can spread it out where every day you’re sending five, ten, 20, 100, whatever you want, and it cost the same. It doesn’t cost you any more or less with sending smaller quantities, and it’s all done right inside of freedom soft. So it’s really cool. If you have my program, I’m going to be doing a training video real soon on how that all that works. We’re putting in our templates. So yeah, keep your pipeline full because when you get so many leads and you get a marginal deal or the seller is giving you a hard time or like you’re trying to get it at ten and they want 20 and it’s worth 50 or whatever, right? So it might be a good deal at their price, but it’s like, I don’t know if you’re like a desperate, motivated buyer, you’ll just take it at whatever price you can get a deal at because you might be able to squeeze some profit out of there. But when you’ve got so many leads coming in, it’s easy then to all of a sudden now just start disqualifying leads instead of trying to qualify them into your program. So you can. It’s all positioning, right? So like if a seller knows that you are desperate and hungry, they can smell blood in the water like a shark and they will walk all over you. But if you’re like, Yeah, you know what? If you don’t want this offer, that’s fine. I’m going to pass on it. Good luck to you. I can send you some realtors if you want to listing on the MLS then. Then the tone changes. You know you’re not chasing them. That’s the worst thing you do. You always pull away from a seller, You pull back, you make them come to you, You don’t go after them. And you can only do that when you have a bunch of leads, right? If you’re looking at a property that’s land locked or if it’s a house that is, you know, just not in the best area, you can just walk away from it. It’s not a big deal. If it’s in a way you’re going to walk away if it’s. We’re talking vacant land here. I mean, if it’s a property that is any kind of if a title isn’t clear, it’s going to be just too much work to try to figure all that out. Yeah. You just walk away and tell the seller, listen, you know, when you get this thing figured out, then call me and we’ll revisit this offer or something like that. So you’re now the one in control. You’re the one holding all the marbles. Because now can I park here? You’re the one holding all the cards. And you can be more selective about the deals that you’re working on. I just interviewed a guy the other day, and he’s done 700 house deals. Good friend David Dodge here in Saint Louis, and he’s done tons and tons of deals, but he just that’s a lot of work. Right? And in the same amount of work you can do, be more selective with your deals and make much larger profit. So he’s doing less deals, bigger deals now and enjoying life a lot more because he’s not working super hard. So you get to that point by learning, understanding and being an expert master at the marketing game. Okay? And then it’s so cool because when you do a lot of marketing, you just got to do one deal to recover all of that marketing cost and then everything after that pure profit, and that could last months.
Joe: So anyway, go make it happen. A couple of things I want to tell you. I got some a free goody thing for you and I want to tell you about a workshop we got coming up. I just created a brand new nine page PDF that is like a template for my business on how we do vacant land deals. It’s just a it’s a strategy, I call it. I’m calling it a strategy PDF that shows you how me and my two sons did over 150 grand teenager sons flipping vacant land. It’s the step by step process of how we do it. If you want to get your hands on that PDF, it’s completely free. Just go to strategy pdf dot com, strategy pdf dot com. Also, I’m doing a workshop with my coaching business partner Gavin, and in this workshop we are just doing the stuff we are getting on the phone. We’re calling realtors, we’re calling buyers, we’re calling sellers and we’re making lots of offers. We’re going to set up your systems. We’re going to if you don’t have leads already, we’re going to be giving you leads and you’re going to be getting on the phone and making offers and we’re going to be helping you make offers. So if you are interested in that, you’re like, Joe, all right, I’ve had enough. I know what I need to do. I just need some help to do it. I need some help to get on the phone. I need some help to make offers. I need some help to analyze deals, houses or vacant land. Come to our next workshop. We keep these really small. We’re starting to do them once a month now, and we keep them to about 12 or 15 people max at a hotel conference room near where I live. We’ll go hang out, have lunch at my country club. It’s kind of fancy. And if you come, by the way, don’t wear wife beater, tank tops, guys. You can wear collared shirt to go get into my restaurant at this country club. The other day, we had a work group here and I had to buy one of the guys a collared shirt anyway. But it’s a lot of fun and we’d love to forget about where I mean, even if we just had Subway, it would be incredibly valuable and worthwhile to you because we’re going to get some deals done. So if you want more information on that, just go to Joe McCall dot com slash workshop Joe McCall dot com slash workshop and hopefully see you there. Okay guys, appreciate you all very much. Go get some leads, man. Go do some marketing and make that the focus of your business and then it’ll fix everything else. See ya, bye.
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