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We’re back with another segment of my Do or Die series with Jared and Foster. If you’ve been keeping up with us so far, you know it's been exciting. Foster has been working really hard on the leads that they're getting, and they're doing very well with their direct mail strategy with postcards. We're averaging a little less than 1% response rate, which should go up soon because Foster will soon be leaving his day job to flip land full time!

Those first months in your real estate business are always the hardest and it can feel like you’re plowing through concrete. It takes time to build up that momentum and the more marketing you do, the more leads you’ll get, and the more deals you’ll do. Consistency is the key, so whatever you do, don’t give up.

Watch and Learn:

Listen and learn:

What’s inside:

  • How Jared and Foster are doing with direct mail
  • How to use FreedomSoft to put together offers
  • Tips to help Jared and Foster work through a complicated deal

Mentioned in this episode:

Download episode transcript in PDF format here…

Joe:  Hey what's up guys? Joe McCall here. I'm with my good friends Jared and Foster. And this is our Do or Die series. If you watch the videos going up to this. So far, it's been exciting. Some cool things are happening, and we just kind of talked about an update of where things are at. Foster has been working really hard and diligently, on the leads that they're getting, and they're doing well with their postcards, the direct mail. You know, we're averaging a little less than 1% response rate. We've they've been sending some postcards, not as consistently as they would normally want to because foster has been working full time plus job. And he will be done with that job in about three weeks. So in about three weeks or a little bit more, he'll be able to dedicate full time energy into this. Yeah, I'm excited for you guys. You know you're starting to get some momentum. You're starting to get some leads. And it's always hard. You know, even if foster, you were able to devote full time energy into this. The first couple three months are always the hardest. It's just you're just building that momentum, you know, and sometimes you feel like you're plowing through concrete. But it takes time to build that momentum. And the more you marketing you do in, the more consistent you are, the more lead you're going to get, the more follow up you start to do, because most of your deals are going to come from that follow up. Right? And then you're going to find in a couple three months after you're doing this consistently, the new deals that you're doing, the contracts you're getting are not from the new leads that are coming in. They're coming from the old leads that from a month, two months ago that you've been following up with. Right. And so that's why this principle of momentum is so important to not quit, not give up, keep that marketing going. Sometimes some of my students that are that have been putting in that momentum for a couple, three months now, their complaint has gone from not complaint, but theirtheir challenge, their issues has been how do I get more deals? I want to get more contracts now. It's like, okay, I just got six contracts this week. I need help selling them. And so that's going to become soon an issue or a challenge in the future if you keep this going. So just be aware of that. Right. And also you were doing some mail in some of the busiest time of the year and Thanksgiving. And now we're coming into Christmas. So that mail is going to be a little slower to go out. But talk a little bit about Foster. We're looking at we're averaging maybe a little less than 1%. I think we've generated 22 leads so far. Some of them you're still trying to reach. You've sent some offers. And so talk about what kind of the how are the leads coming along here.

Foster:  Yeah. Good. Well I'd say out of those 22 leads, probably five of them were real estate agents. They kind of hit a wall. But I believe will be a good follow up, especially if it's been on the market up in a month. It'll be on the market a month or longer from when they reached out. The other ones, out of the 22, haven't had anyone maybe one, get mad at the offer. So the range postcard has been good. It's brought attraction because of the high number, but also given me, negotiation ability because of the low end on the price range postcard. So I believe that's been working good. When I call, I'm able to have a lot of leverage when I do my due diligence and then call them back. We have sent probably about 8 or 9 offers out of the 29. So I want to get that up to 15, which is just going to take calling these people back, actually getting them to answer. We've had about seven who have left voicemails but haven't responded to my call back, then get an email address for them so that I can get them an offer. Out of the eight offers that we've sent, we've got three under contract. So and we're pretty happy with the ones we have under contract. We think two are really solid. One of them, we're finding out how it's going to work. We might not make as much, if any, but we're going to see. Realtor is just worked on getting a good price to start marketing our property. We've come to an agreement on what we want to list of that on the MLS, and they've got a database of a lot of investors. So the ball.

Joe:  That's cool. I forgot to even mention that in this little sporadic marketing that we have haven't it's not been little. It's been significant. You do have three properties under contract.

Jared:  Well actually if I can clear that up it's actually should be considered four because one of the buyers has two properties, two addresses that are next door that we're getting two separate contracts on because we will explain a little bit. It's a little bit sticky with dead relatives, that we're having to work through. So it's actually three sellers. But for contracts to be a little bit more clear, that's good.

Joe:  Still, congratulations. A few things I've been noticing as I'm looking at your freedom. So I'm not going to open it up here. But when you do get a property under contract, you need to convert it to a property that'll move it on over into the properties section of Freedom Soft. And then when you look at your KPI dashboard, you know, there's, there's, the size of the campaign, there's leads, and then there's response rate, and then there's another field over there on the right for number of properties. And that means, how many deals got under contract. So as soon as that seller signs that contract, you should convert it over into a property. And you do that from the orange button, it just you click the orange button, click convert to property. That just means you have it under contract. And that can kind of track your stats. And then when you sell it, you can track what you bought it for. Or what you sold it for and what your profit is. And that will also translate over into your KPI dashboard, which will show you the cost per lead and the revenue per lead on these campaigns. And that's a real important number to understand eventually when you start doing this longer. These numbers are so important to understand. And I know Jared, you know this. You don't want to know. All right. You should know your numbers eventually where we want to make $20,000, I need to send 10,000 postcards. Like you should know by your numbers. If I send this number of postcards, I get this number of leads, I make this number of offers, and I get this many under contract. And my average profit is this. And I make that, and it works all the way backwards and you'll know your numbers. It's just a numbers game.

Jared:  And if I could expand on that just a little bit faster as a business guy, that's the financial investor, right? That's really important for me. Two reasons. It's my money that's being invested. So I want to quantify the return on the investment. But even more important and more exciting for you is as a financial investor, that I don't have unlimited means by any stretch of the imagination, but I have more means. And if after six months, if I can say for every dollar I invest, I make $4, I can literally go invest $100,000 in marketing and we could get three. Foster's answers some of the calls, because it's an ROI that's almost proven for a 1 to 4. And if I can get that number that I'm confident in, I can flood the marketing with way more investment. And then we could hire some other fosters easily to help you.

Joe:  And you can also bring in private investors, right? Right. You can bring some private investors to show your track records. And so tracking the numbers is really, really critical. And you're doing a good job of that. I'm just saying just be aware when you're when you're tracking the leads coming through make sure. And then also with the statuses those statuses are really important. Update the status to. Once you send them an offer the status should be offer number $0.01. The other thing I wanted to say too is you should always send an offer to every lead that comes in, even if you're miles apart. Even if they say no, even if it's a realtor, still send an offer in the mail.

Foster:  Okay, so I was going to ask if you can't get an email from them. If they don't give you an email address, just send it to their home address. Yeah.

Joe:  So every lead has the mailing address, right. So send the seller an offer in the mail. Now you can do that inside of Freedom Soft. You could print it from your home printer and send it handwritten. You know, the reason why is to get a higher open rate, whether it's a handwritten letter like that. But even if I have their email address, I always want to send a written offer in the mail. Emails get lost in spam. You know, they might look at the email, not recognize the sender. Sometimes you know Gmail, they'll say potential spam. Does it look safe? Yes or no? Or it goes into the updates or promotions tab and not the primary tab. So in addition to the email, in addition to texting, the offers always send it in the physical mail. Because the other big reason for this is I always put on there something like, if this offer isn't acceptable right now, that's fine. Or you know, but but please keep this letter for future reference. And sellers will do that. They'll they'll keep that letter for future reference that also like they may put it in the junk drawer maybe three months later, they're like, who is that guy who sent me that offer? Again, they're not going to go looking in their email to find it. They're going to maybe pull out their mail pile of mail and go through it and find your offer there. So it's just a way for you to be different than everybody else. And this is the other thing. When you follow up, you have a bigger foothold in, you know, you can say, hey, I'm following up on that offer I sent you. Did you get it? And when you're doing that from the phone call, follow ups or the emails, the, the written mail, follow up physical mail, it's always, hey, I'm just following up with that offer I sent you before. Did you get it? And they're going to be more likely to remember you than the 20 other darlings that are sending them emails and text messages, right. Because you're more you're more belly button to belly button. You understand the importance of that in sales, right? It's more physical. So anyway, be aware of that. So with the when you're updating the status after you send them an offer market as contract number one sent. Now you also you have some of your leads are there are flagged as are status as warm follow up. That's good. But I don't typically add them to warm follow up until after I've sent them. Couple 2 or 3 or four offers because I want to just I want to send them an offer every month. And then after that point I might put them into cold follow up or warm follow up. And then I'm going to have make sure that I know you're doing this, but I just emphasizing this again. When you when you follow up on lead, make sure you complete that old task to follow up and then set up a new task to remind you again in 30 days to follow up or send a voicemail or send an email. Every single lead in the CRM needs to have a follow up task assigned to you or somebody in the future. Eventually, you guys are going to get a VA to do this follow up for you, but so make sure don't just status. The lead is follow up. Make sure you create a task with a due date in a week, tomorrow, a month, whatever. Sometimes I'll create three tasks, you know, send a voice mail in a week, send an email in two weeks, and send another offer in 30 days.

Jared:  You know, if I can add that to I think it's I don't think he's actually adding task with due date. So I think a lot of those things he's not doing because he's not full time in. They spend it as few hours on more urgent task of calling sellers and buyers and real estate agents. But I just want to read in the report Lizzie mentioned VA. Want to make sure you know what that is, foster. It's a virtual assistant. If you get good at putting this in the system, we're going to have confidence hiring someone to assist you. But if it's not really regimented with task and due dates, there's no way they can get in your head and figure it out. It has to be something that's systematized for them to just follow task as you do it. So right now, you might not need it because we don't have that many customers, but you will need it in three months. And if we want to hire someone, you million percent need it so they can just follow what you're doing simple and easy and effectively.

Joe:  Yeah, that's real important. And write this word down workflow automations because in Freedom Soft they have what's called workflow automations. And when a status is changed from, you know, new lead comes in to offer number one scent or something. The way I do is like new lead comes in, I change it to offer requested, and that just maybe creates a task to send them an offer. And then when I change a status to offer number one sent within the workflow automations, it can trigger a bunch of things after that. And it's really important to get familiar with this. They will say send them a text in three days. Hey, did you get my offer? You'll create a task to send them a voice mail in a week. It'll send them an email. Hey, just following up. Did you get my offer in the mail? And they'll send another reminder in 30 days to send them another offer. So, like with the workflow automations, when you trigger these things tasks, texts, emails, even other pieces of mail, it can. So it can set up all this automation for you because there's this are so important. Everybody that I know who's successfully doing a lot of deals houses, land doesn't matter. They operate under this philosophy a couple things. Number one, no lead left behind right. Every lead has to have some kind of follow up associated with it. A task assigned to somebody with a due date. No lead left behind. Right. That's got to be your mantra. And then the, the other thing is every seller gets an offer and follow up with every single seller every 30 days. So, you know, as you get more time into this, you can foster, you'll be able to see. All right, you'll be able to learn freedom soft. You'll understand all of this, but it's very important you stay organized. You create tasks. You can do as much of the automation as possible. Eventually, you're going to get a virtual assistant. And you might be, you know, for you, your time is probably best spent on the phone. And so you don't have to be the one doing all of this data entry stuff and freedom stuff. You can Voxer or WhatsApp your VA a voice message, you know. Hey Jamie, I just talked to the seller, blah blah blah. Go ahead and send them an offer for $35,000. Change the status offer. Number one, send and remind me in 30 days to call them back. Boom. Right. And you send that voice message to the VA, and eventually the VA can do to manage all of that for you. But the other thing is you need to have freedom stuff set up. So when you log in, you go to the homepage, you see your dashboard, you see all of your tasks that need to be done that day. And right now you guys don't have any. You got one for follow up on a lead. And in six days you've got 22 leads in there. You should have at least 22 tasks in your task list for something to do. So the first thing you do and eventually your VA. But you know, you're going to have to learn how to do this faster so you can train the Vas, right? Yeah. But then the first thing is you look at those tasks and you just go through them bam, bam, bam, one at a time and, send the emails, make the phone call, follow up, send the offer, whatever it is. Then you move on to new leads. Now, the other thing.

Jared:  On that note too, Joe, we need to be putting the other side of it. Real estate agents in there with task and follow up. Yeah. Buyers, investors. And again, this is because you had to at the time. Yeah. When you get an investor call from the yellow mailer that should have been manually put in there, were tasked with the real estate agents, the 5 to 8 that you called. There should be tasks there. So you'll get there. That's going to be really important when you'refull time. This probably spend your first couple of days or maybe over Christmas when you don't have time. You know, we're going to be calling people because it's during Christmas break, sit out for a couple hours and really set up Freedom Self. So on January 2nd, when you're full time, it's basically your manager. It's your guy, same pastor. This is what you got to do today and it's reminding you and keeping your on point.

Joe:  There's just like there's seller leads. There's buyer leads as well. And you can put buyers in there. I was just talking to a guy, Matt Larson, and he's been doing real estate houses for a long, long time. He's doing I don't remember his numbers, 1012 a month house deals. Right. He has Vas doing almost 100% of the work for him like his he's got Vas that are actually doing the outbound cold calling, doing the follow up, making the offers, and then once they get him under contract, these Vas are actually even selling the deals for him. He's got this machine and he's it's a big operation. You can't get there overnight. But one of the things he was telling me was, he's got he's got his Vas super trained, very aggressive with the buyer side of the deals, buyer marketing. And it's so important to build this list of these. Buyers because you build a relationship with them. Pretty soon you're going to get to a place where you're getting deals under contract. You're selling them with text messages and emails, right? You're not even messing with realtors. You're not putting them on the MLS. You're just texting and emailing these guys that are buying land and you're saying, hey, I got another one. You interested? You're in or out? Let me know. I got ten other people to call that are interested. Right. So like that's how you're going to start turning these deals much faster is the more you do this right.

Jared:  We had some buyers not interested in the one we were offering, but they're in there. Now that you got this, these two under contract foster, you'd be email and text immediately saying, I know that one maybe weren't interested in, but I got another one. So that's why they need to be in there now.

Joe:  Foster's got his job for the next couple three weeks. Four weeks. I'd rather see you guys wait to mail for at least a couple weeks.

Jared:  We can do that on another call if you want, since we're not actually going to mail it. Foster does have some specific questions about some complexity, with the guy selling it to him with dead mothers and brothers that were on the landfill.

Joe:  Yeah, let's talk about that. One more thing I before I forget, this is important. I'd like to see you guys after you mail a list, cold call the list. And that's not going to be you doing this, but we're going to talk about that more because I've got a team that can do that for you. And it's a great way to follow you because you guys got a great list. You're in a great county. If you could hire a team because about I don't quote me on this, but about $0.15 per record to skip trace them and call them cold code 15 to $0.20 per record. So if you got 1000 records, it's going to cost you about $200 to skip. Trace them in cold, call them. And we were doing this last week. Last weekend. You know, I sent my guy a, I think 750 records. And within an hour with two Vas, he had ten leads. Now, these are just people that raise their hands. A yeah, I'll sell. So they're not super motivated. They're not going to be as motivated as a postcard lead. But that's a great thing we can look at. So let's talk first. Next about the these deals you have that you have some questions about buyers. All right. So what's your question there. This realtor what $10,000 out clause or what's that.

Foster:  No, no a thousand bucks. So basically, like she does all the work if she does all the marketing listed on the MLS, does aerial photography and everything, and then, like, we sell it on our own.

Joe:  Okay.

Foster:  It's in the contract that we owe her $1,000 for her work because she didn't get any commission.

Joe:  I think that's fair.

Foster:  Yeah, that's how their realtor realty group does it, so. And then it's a flat rate.

Joe:  But this is interesting too. You do have it in your contract with her that if you bring your own buyer you don't pay her anything. Any commissions above that thousand dollars. Right.

Foster:  Say that again if I bring in a separate.

Joe:  Yeah. So that's interesting because she's actually letting you bring your own buyer into the deal. Sometimes some realtors would say, hey, even if you bring your own buyer, you still have to pay me my full commission. Does that make sense?

Foster:  Oh, so you're saying she'll let me bring someone in? But I just over $1,000.

Joe:  Well, that's good. I'm saying this is a good thing, right? Because, yeah, most realtors wouldn't do that. So yeah, she's putting in the work, she's doing the pictures, she's letting you use the pictures and the work, the time she put in. I'm totally cool with that. You always want to be real generous with your realtors, right? Because these land, these lots are small little lots. They're putting a lot of work for these smaller lots. I'd rather list a $300,000 house, right, and get a commission from that, but that's not going to happen. So you want to make sure that you're paying them well because they're going to bring you other deals. They're going to bring you buyers are going to work harder for you than they are their other clients, because you're paying them more on a percentage basis in their other clients. So it's always important to have a good relationship with your realtors.

Foster:  Absolutely. Yeah. It's been it's been great. And then so yeah, it's just a $7,000 flat fee. I gave her some options for commissions. Like if she sold it between 50 and 60 grand, she'd get 6% 60 and 70 grand, 7% 70 and 80 grand. Okay, 8%. And then 80 grand plus 10%. I kind of thought that was cool. She just came back and said a flat fee of 7000, which I kind of like that because I told her that's nice, because I need to sell it fast and we have a lot of room because we bought it for 36 and she's listing it for 80. So I said, if you need to sell it for 65, it's nice that your commission doesn't drop.

Joe:  Yeah. And you think that that's good. Yeah. Good for you. So is it listed yet on the MLS?

Foster:  No, because I haven't signed the agreement. Yeah. She sent it to me yesterday.

Joe:  Jared. Maybe I have to be the one to sign it because of whatever your LLC arrangement agreement is with him. Just so you know.

Foster:  It can't be under the LLC because my name is on the contract. Okay, so they said it can't be under the LLC. That's fine. So it's under it's under my name. I don't know if that's good or bad thing, but.

Joe:  Ideally you want to do it in an LLC. But don't let that stop you from making offers. Just make offers if it's in your own name. If it becomes a problem, you can always correct the contract, do a new contract, and going forward, do it in the LLC. I'm not too concerned about it. So you're buying it for 36. You're listing it for, would you say 7580?

Foster:  Here's what she said. She said, I think that looking at comps, we should list it for 80. And being a ghost is her words for me.

Joe:  My preference is to be aggressive right from the gate, right out of the gate on the pricing. So in realtors do this all the time, especially with vacant land. They're used to it sitting for six months, 12 months before it sells. It's not like land doesn't move as quickly as houses, but for me, I prefer to price it aggressively right out of the gate. So when someone's looking for land in that area, you want to be the cheapest. You want to sell that thing quickly within 1 or 2 months. It's there's this thing of velocity, of capital, right? It means like the faster you turn your money, the faster you, the quicker you can do more marketing, the quicker you can get more leads, you know, and your money will compound faster and you'll make more money in the long run, the faster you can turn it off. I'd much rather see you in a place where you're pricing it aggressively and you're getting a lot of interest, maybe even bid it up a little bit. Then being a place where you're being a little more, you're asking a little bit much, you're not getting as much interest. The days on market starts growing and then you start doing price drops. It doesn't look good. You want to. So if, if if a realtor is telling you can sell it between 70 to 80 and I would listed for 65. That's kind of how aggressive I want to be when selling these things. That make sense?

Foster:  Awesome. So should I go back and change our contract and change it to 69 grand?

Joe:  So she's telling you can sell it between 70 to 80.

Foster:  Yeah. Her comps, the lowest that a five acre sold in that area was 76 and the highest was 119. So she said 80. But because we don't have road access, it has an easement, but it doesn't have road access to all of asking her what, like, how much does that drop the price? And she said, let's start at 80 grand. Well, you know, she no idea.

Joe:  Yeah, yeah. I mean, you are hiring her for expertise. She knows the area better than we do. But again, you bet you just what you need to do, foster, is look at it. Look at the actives. You know what I mean by that? Like, look at the other properties that are listed in the similar size in that area. You can go to Redfin and look at that up. Right. Look at for sales and pendings. Pendings means it's under contract to close soon. And just make sure you're one of the cheapest, if not the cheapest one there. Somebody is looking on Redfin in this land, in this area they're looking for land in this area. They're going to see your property, think, wow, that's a good deal. I need to figure out. I need to see what this is once about. So that would be that'd be real important. The other thing I'd tell you, this realtor has agreed that you'd pay her a minimum of 1000 if you bring your own buyer when you have the time. I would also go in and start looking at who are the buyers that have bought land in this area recently. You can do that in prop stream or prop wire. Find out who these guys are that are buying land and you can skip. Trace them and call them. Call them yourself and say, hey, I see you bought this five acre property for 90 grand. I've got one here that we're selling for 80 grand. You wouldn't be interested in it, would you? Are you looking to buy more deals? You're looking to buy more land. So I would do more proactive buyer marketing. And you also sent these letters out, and you got some calls from what was, what was the result of those letters that you sent out?

Foster:  No road access. They didn't want it.

Joe:  Yeah, yeah. Well, even more reason to be more aggressive on that pricing. But, you know, the other thing is you've got don't forget, you've got three months to close on this deal with the seller. So you got to start marketing it aggressively as quickly as possible to use up as much of that time as possible. Maybe that's a deal killer. Just kind of don't you know, a lot of this is unknown. You just don't know until you put it out there in the market, and the market tells you this isn't going to work. And if it's those buyers, how many of these letters did you send? 160, 160. And then how many called you on the result of the letter? Seven, seven. And none of them are interested in it?

Foster:  No. I have one that wants me to close on it. And then he said his investors will be interested.

Joe:  There's no guarantee for that. Yeah. So that concerns me a little bit that they aren't interested in it.

Foster:  I was telling them 96 grand.

Joe:  You might want to call them back and see. Would you be interested.

Foster:  I've asked that. I've texted all of them back and said, what price would you pay for this property?

Joe:  And have they told you?

Foster:  I haven't gotten a response. So I, I'm going to call them.

Joe:  Yeah, I would call them because it sounds like it is a good deal. And I'm always my dispositions guy. Matt, who works with for me now, I'm, I'm always questioning him is like, man, stop trying to squeeze out every penny of these things, you know, like just price them aggressively from the beginning. Let's sell them as quickly as possible. He needs the money more than I do, kind of where we're at. Right. So he wants to, like, get as much money as possible, make as much money as possible. That's what the realtors are thinking as well. But sometimes you just gotta you got to be okay with just making 1020 grand on a deal instead of a 30 or 40 grand. It's just a quick nickels better than a slow dime. Some. Many times. Right. Did you have another question about something else?

Foster:  Yeah. So I've got this really good. What I and again, I want to get to the point in this which I know I will of where I, I see a trailer and I know exactly how much I'm going to make. I don't know that right with land. And so I'm just saying this from what I see on comps, but I've got a 0.32 acre lot right on the corner with water, obviously road access, because it's in a subdivision right on the corner and the lot next door sold for 55 grand .32 acres, exact same acreage size, sold for 55. And he said that I could. Buy it for 40. And he said that I could buy both of his lot. Now they're both 32. They're right next door to each other, so it turns into like a .75, three quarter of an acre for 40 grand, he said. Basically, buy one, get one free because he needed to get out of his debt so I can get both of them for 40 grand.

Joe:  Are both lots on the water?

Foster:  No, sorry. With water. Like running water?

Joe:  Oh, like utilities? Water. Okay.

Foster:  Yeah. Utilities. Sorry.

Joe:  So it's got water. Probably power. So the next door lot. That was 3.32 acres. Sold for 55 K. How long ago?

Foster:  In July.

Joe:  Okay. And so he's willing to sell you two lots for 40. So you're buying them each for 20? Yes. Well, that sounds to me like a good deal, right. I would sell them. Excuse me. I would sell them both individually by themselves, but I would go ahead and make them an offer, get it under contract.

Foster:  So he's signing it and signing it. 20 grand each. So here's the issue that I have questions about. And then I'm talking to my buddy who's really good at a title company, but he his dead mother is on the deed on one of the locks with him. He has the death certificate, but he can't get her off of it. And then the other one, the other one next door, he's on it with his two brothers, and they've already signed the property over to him because he's been paying taxes on it. He's paying for the water that is still running there, and he had to get it demoed. So I think there was houses on it and he demoed, so now it's just vacant land. So he's paid for all that because his brothers can't afford it, but they're still on the deed. And he's been working with a lawyer since 2019 to get them off. There's no will whatsoever. It's not the smartest family I can tell. And he even told me that. And so he's basically just rolling the red carpet out for me, saying, thank you so much for helping me. I'll give them to you 20 grand apiece, if you can just help.

Joe:  Here's. Yeah. Well, first of all, yeah, I what I always do is I try to get a local title company to help me on these deals because a local title company is going to have they're going to know what needs to be filed, what documents need to be signed, what needs to be recorded or whatever. However it works. And, I would still get it under contract, but I would let your window start the day the title gets cleared, which the contract already has a clause in there like the seller will grant you, any extension is needed for to provide the clear title, but you're going to need to get a local title company in that market in that county that can help you with this. And the best way to do that is you call these other realtors and say, I'm looking for a good title company to help me buy this vacant lot, and there's some title issues, and, you're going to need to it's one of those things where it's one of the frustrating pieces with land. You're going to need to kind of help. It can drive that ship that you're going to need to play middle man for a little while. The title company is going to tell you, you're going to look at it. They're going to say, yeah, you need to get the seller to sign this and this and this, or fill this out or file that or whatever. You're going to go to the seller then and say, all right, I need you to get your brothers to sign this, and I need you to get this thing and get an attorney to file this thing. And you're going to need to play that follow up game between the, the, the, the title company, what they want and that seller. And sometimes it's frustrating because the seller is going to get ticked like, oh, I already took care of that, or that doesn't make any sense, but you're going to have to just keep on reminding them if you ever want to sell this property, this is me telling you this. This is the title company in XYZ County. If you're ever going to want to sell this property, you've got to get these things taken care of and put that on their shoulders, their responsibility. But you're still going to have to stay with them and follow up. Some of our biggest deals have come from eight months of this kind of going back and forth. The seller finally did file the thing, but they got it wrong. The title company said now they did it wrong. They have to do it like this. So we go back and forth and doing that kind of a follow up, does that make sense? What I'm saying.

Foster:  Absolutely. So you're saying first rule is go to a local title company in kindergarten and tell them, obviously, hey, I want to use you for I've got I'm mean, have four properties here soon. I want to use you guys. I've heard good things. Can you help me out with some information?

Joe:  Yeah, and here's a contract. I don't think that there's some title issues here, which is common. And this is normal, especially with vacant land. And ask that title company. What do I need to do to fix this? Here's the whole point of what I'm trying to say. You can't just rely on the title company to do all of that aggressive follow up with the seller, right? Title companies not getting paid to do that. So and it's not a big enough deal for them to weigh that. So you have to play that. You have to be, you know, in the middle of those conversations and you have to control it. And sometimes the deal just falls through. It falls apart because the seller is not willing to do the work. So you're going to have to stay on top of them and like, listen, I've got I want to give you $40,000 and if you want this money, you have to do this and this. I can't do it for you. I would if I could. So you got to be kind of aggressive with that kind of follow up. Once you start getting bigger and you start doing more deals, you can actually hire transaction coordinators. That can help with all of this stuff. These are people. That's their full time thing. When you get a deal under contract, it's going to cost you a 1 or 2 grand per deal. But you can hire transaction coordinators.

Foster:  Heck yeah.

Joe:  Yeah, it's a big deal. But you can hire these transaction coordinators to stay on top of this, all this and coordinate it and do the aggressive follow up and all of that. Well, let's cross that bridge later for now. You kind of need to learn this so that you can understand what the cost of sales involved, right? Cool. Anything else we got to wrap this up?

Foster:  Nope. That's it man. That's perfect. I just wanted to know if, go directly to the title company if that was on the hook. So, yeah.

Joe:  Find a good local title company that a realtor will recommend, or even some of these buyers that you've been messaging with and contacting. Ask him, do you have a local title company there that you recommend? So it's hard to find a good title company sometimes, just like it's hard to find a good realtor. But, yeah. And so losing you there for a second, we do still need to talk about another list, but, why don't we do this next? Why don't you look at the. You know, because we did some research before in the state. The county that you're in. I think we only pulled up in that county that you're in. I don't want to mention it in the for the call here, but then that county you're in, I think we only pulled a small portion of that list. I think we can pull more. So let's let's look at that. But also why don't you want you to do is, look at that original call that we did before and look at, okay, here are five different. Give me five different counties you would be interested in. I think you're in a great area. All right. Let's look at some more counties around there and give me a list of like I, we like these 4 or 5 counties here and we're just following the demand we're following. Where are these investors? Where are these buyers buying this land. And that's where you want to really target your marketing in. Make sense?

Foster:  Awesome. Thanks so much, man.

Joe:  Well, good talking to you.

Foster:  I think I'm going to tell her 68.

Joe:  Okay, cool.

Foster:  Cool.

Joe:  Sounds good to me man. Keep me updated. You know how to reach me to message me anytime you have a question, don't worry about bothering me.

Foster:  Okay. Thanks so much. I appreciate that, I will.

Joe:  All right see ya, bye bye everybody.

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