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When my coaching client Josh first got started, he was doing a bunch of marketing, but was forced to put things on hold for a little while because he had a lot going on. He’s currently based in South Asia with his family, and a lot of stuff hit the fan. Now, Josh is picking things back up, and here, we recap how things have been going.

In addition to getting the marketing machine back up and running, Josh’s friend has been doing acquisitions for him. They’ve gotten some deals under contract within the last three weeks, which is pretty cool. Josh and I dive into everything he’s got going on, and we walk through the next steps, how to talk to sellers and realtors, and deal closing tips.

Watch and Learn:

Listen and learn:

What’s inside:

  • An update on Josh’s real estate business
  • Deal closing tips and tricks
  • How to talk to sellers and realtors

Mentioned in this episode:

Download episode transcript in PDF format here…

Joe:  All right. So Josh welcome to my coaching call slash podcast. You got started. You were doing a bunch of marketing and you kind of just had to you're kind of forced to put things on hold for a little while just because of all of the stuff that was going on. So but you've been picking things back up again lately. So tell me a little bit about how are how are things going right now? I think you said you had some deals under contract already, right?

Josh:  Yeah. I mean, it's been crazy, Joe. So, yeah, we had a lot of stuff hit the fan here in South Asia. And so I had to put things on hold for a couple of months so that we could take care of everything on the, on the family side of things. But we still had the leads that we got, you know, prior to putting on pause. And then we started marketing up again and new leads started coming in. I also had a buddy of mine who him and his son have started doing acquisitions for me. And so that way they're able to do that and his son is killing it. So I just texted him before this call and I said, hey, how many how many contracts that we currently have and in the lot and this is all been within the last three weeks, Joe. Now these are all leads. These aren't just brand new leads. Some of them were from leads prior to pausing. So. But he currently has nine properties under contract.

Joe:  Right now I'm logging into your Freedom Soft account. Is that okay?

Josh:  Yeah, absolutely. Yeah.

Joe:  Okay. Josh, I'm looking. And, you've not sent. Have you been sending your mail through Freedom Soft?

Josh:  We have been, we just sent. So we, since we had, we bought two lists. We just bought another one Friday because we the final list last week, it only had, I think, maybe 180 or, 200 left or something. So those were just sent on either Thursday or Friday. We bought another list over the weekend, and we're sending out to make it a thousand today actually. So because we're still doing a thousand a week. And so they'll be they'll be sending that out. I've got a VA as well. That's, that sends out our direct mail. So he'll be doing that today.

Joe:  And I'll share the state that sorry, I won't share the counties, but we've been in you've been focusing on North Carolina.

Josh:  Yeah. And now we're in three. This will be the third county that we're going into. I was Carolina, yeah.

Joe:  Good. And so, have you been. Somebody is doing. Looks like they're doing a good job and freedom soft with the importing the lists. And then you're connecting. When the new lead comes in you're connecting it with the record in the list. Merging them together. Nice. Yeah. So let's look at one. And you're using what I'm calling the range postcard.

Josh:  And we're also doing cold calling now too. So while you are we call we cold call. But it's cold calling the same list we're direct mailing to. So we're doing we're doing a split marketing there. So I do have our VA that sends the direct mail is also cold calling as well.

Joe:  Nice. Okay I'm going to share my screen here real quick. This looks awesome I love the statuses but there's some redundancies here just so you can tell your team. Like there's dead here and dead up there. Yep. And the do not call. So I would just put them all in the dead DNC. Yeah you spent a lot of time you need to spend most of your time like managing the status is here by status. So your status tells you what's happened and what's going to happen next kind of rate. So if it's offer number one sent you know that it's still you haven't heard back yet. And then 30 days later you send offer number two. But this is good. I mean, you could do it anywhere you want. That's the flexibility of this, right? Yeah. And with workflow automations, you really want to make sure you're using the workflow automations so that when a status changes, this other stuff happens in the background. It could be as simple as creates a task to remind somebody to call them back 30 days later. It could send them a piece of direct mail. It could send them a text, it could send them an email. But those workflow automations are real important. So just make sure you go in there and you kind of make sure you're using scores like these statuses that are all caps. Those are not in my vacant land. Those are statuses that are not in my vacant land. Workflow automation. So nothing's happening with those. Yeah. The other thing I'll say is this is awesome. Right here in this county, you got four signed contracts in freedom. So if there is that thing for, properties. So when you have a lead open, when you convert it to a property that moves it over into another area where you can track your contracts. Okay.

Josh:  And I don't think we've done that yet, I'm assuming. So we need to do that. Yeah. Yeah.

Joe:  That's just that helps move out and then it this is all important for your KPIs. So you can track the leads that are coming in your average response rates, your cost per lead and then your contracts per campaign. Right. And then when you sell the deals, you track your revenue in there and you can track your revenue per leads. I really like those are the kind of 2 or 3 most popular best KPIs is average response rates cost per lead in the revenue per lead that you're getting. Yeah, yeah. And then as you test different types of marketing that's going to you're going to learn what was working and what's not. That make sense?

Josh:  Yeah. And it looks like another redundant thing here Joe, is that in this county it's not just four. We actually have six. I don't know why he's you can go down a little bit. There's another under contract there. No go up a little bit there. That's contract but under contract. Tracks. Yeah.

Joe:  Yeah. Okay, so maybe he's been adding his own, which isn't a big deal if you go to Support center, just have. I'm not sure who is the main freedom soft person. Maybe it's a VA. Maybe it's this guy. Make sure you. There's a few things you want them to watch. If you go to workflow automation right here. Okay. So and I'll put this in the zoom chat. Yeah. Just go to the workflow automation lead management tool. This is a really good resource. And watch these videos right here. The other thing that's important in here is support center here. If you even register for the live onboarding that they do every week. And here you go. Here is the library of previous onboarding sessions. So I'm going to put this in the zoom chat as well. Okay. Just send this to him and make sure he goes through this. Now it's not all of it's going to be relevant to you because some of it is building your list from the houses that Freedom Support gives you in the database. So you can get lists from Freedom Stuff. They've told me this month they're going to soon have land as in as a they're going to be able to give you lists of vacant land owners in freedom stuff sometime this month soon. So you don't have to use priced if you don't want. But anyway, these are going to be real good because this is going to help you understand the, the tasks and stuff like that. And so if I go here to, tools at home, some of these tasks are getting old right now. Some of them are register for onboarding. Want your websites and all that. Those are not. I'm just going to complete those because you don't need to.

Josh:  Yeah. Those are. Yeah. Right.

Joe:  But some of these properties where there's still some follow up tasks that are old, I would have your guy go through all of these old tasks and just update him. And maybe he already has. Yeah, but just complete the old tasks. Yeah. And make sure and this is important that he understands every lead in freedom soft needs to have a new task assigned to somebody with a due date in the future. Yeah. If it's just follow up, well, create a task three days later, a month later, six months later for somebody to follow up with them. Then when you come in to Freedom Soft, you can see all of your tasks here and you can filter by who it's assigned to. You can filter by due dates. There's a there's ways you can filter that out. That makes sense. Yeah. So you've got these deals under contract. what have you done to start marketing them.

Josh:  Yeah. So I found originally I found a, a really good real estate agent in and one of the counties that, he's already gone, and, five either. Yeah, five out of the nine, he's already been to physically to go take a look at it. And, he's really, really excited about three of the five. We do have a couple, Joe that I think, I mean, after doing comps and stuff, I think we're going to make a lot of money on the deal and honestly, something like that, then I would much rather go ahead and close as quickly as we can and, and then just sell it and if we can, you know, and so, there's a couple that I feel really, really good about that I think we're going to do really well, really well on.

Joe:  So, okay, now, what do you do when you get a deal under contract? One of the first things I like to do is go to homes.com and look at all of the vacant land that have sold in that area in the last six months or so, and call every realtor that's sold, the listing agents and the buying agents that have sold vacant land there in the last six months or so. And the reason why is with homes.com is homes.com gives you their phone numbers and their emails, which is really hard to find on Redfin. Now. You can still Google them and find, you know, their website and maybe some other phone numbers. If you look in Google and LinkedIn and Facebook and stuff like that for these realtors, but you want to call these other agents and say, hey, I see you sold this property here for 20 grand an acre. I'm an investor, I'm out of the country. I've got a deal under contract real close to where you are, and I don't know what I'm going to do with it yet. I might either buy and hold it and just sell it with owner financing, seller financing, or I might just flip it. So I was wondering if you had a buyer who might be interested, and I will pay you eight, 10% commissions or something like that. So you can say I use I see you sold this property for 20 an acre, 20,000 an acre. I've got one. I'm selling for $17,000 an acre. And I if you have a buyer that might be interested, I'll pay you 8% or 10% commissions or something like that. So I would call at least 20 realtors doing that. And just make sure you have the room for that kind of commission. But usually with land on the cheaper land, you want to you want to pay generous commissions on that. Okay.

Josh:  Yeah, right. And I've been I've been trying to put it in for 10% if I can. That's what I've been trying to put it in. So you, you say homes.com. And who sold land in the last year? Something like that.

Joe:  Yeah. Let me show you. So I know you're not in this county, but let's just say you're in Wilkes County, North Carolina, all right? And, that's the entire county. I'm going to go here to all filters. I'm going to say sold. I'm gonna choose land. And there's 245 sold, period. Now, I don't know how long ago that was, but if I go right here to sort recent sales. So here's a property 2.5 acres. It was 29 days on the market. It sold for 58 grand. And if you. Open it. It's sold for 22 925 an acre. It's got some kind of platform there and I don't know what's going on. But anyway, when you scroll down here, you can see the listing agent and the buyer's agent and their phone number and emails. Okay. Which is really cool. Redfin and Zillow won't give you that info. You have to kind of hunt for it in Google.

Josh:  And I'd recommend, calling the listing and the buyer's agent to see if they've got any other buyers. Yeah.

Joe:  Okay, so you're not asking them to list. You're just asking them if they have buyers. Yeah. Because these are, you know, they sold this property for 2000. Now it's 87 acres, but they sold it for 2000 and an acre. There's the. Now, the listing agent represented the buyers also here. So that's why I like homes.com. You could even in here you could let's say your properties right there. You could draw a little circle there. You know if you wanted to really drill down and find these agents okay. This is also just good camping right. You can see okay. This one sold for 13,000 an acre. Yeah. But a lot of these realtors, the listing agent, the buyer's agent, they know who is out there looking for properties. Yeah. And now you get their contact info, which is really.

Josh:  That's awesome. Yeah. That's great. So that's the first thing. Then get on there and call. Call these realtors.

Joe:  Second thing is prop stream. Okay. Again soon you'll be able to do this right hand side of freedom soft. So let's just go to Wilkes County North Carolina, and I go to filter drop down list to vacant land. I go to ownership info. Last sale date. Let's just go back six years. Six months. 123456. All right, so there's been 237 transactions in that county. Okay. You could filter more if you wanted to. You could say, all right, show me all of the corporate buyers. Yeah I did LLC. So there's 53 now okay. And so you can download all of them. It's going to be hard to skip. Trace them. You know you can't. But you could if you open up one of them here you can see this company out of somewhere North Carolina. If you go to Link Properties, they own 19 other properties. Yeah. Which are all down. Some vacant land, single family. They're all over the place, a lot of it. So maybe they're looking for more. And you go to property details. You have their address right here. Sometimes if you click on MLS details, you can see the MLS listing agent or buyer's agent was right there. Okay. So I would just Google Tig LLC and Google this address and see what's there. I don't know if this is a home address or a business address, right. But you can Google that and, you know, find maybe something and then try to call them. But then what I like to do is send a motivated buyer yellow letter. This thing works like crazy, like bonkers. So you get a you get a Sharpie and this is you can't do this from where you are, but you get somebody in the US to do it. Now you can send this from freedom soft as a, as a, postcard or a letter with handwriting font. Okay. It works best when you get a Sharpie, a pad of paper. And I call this the desperate motivated seller letter. I'm going to just open it up here and show it to you. Yeah, this thing works like crazy. This this could be the only marketing anybody ever needs to do when you're selling your deals. So I write urgent notice and in parentheses. Don't throw me away. Exclamation point, and you'll see why in a second. It just says I desperately need to sell my 2.6 acre vacant lot near street name and city, state county. I've had it on the market for some time now and I can't wait any longer. Take a drive, take a look at the attached map. Call me and I'll tell you all about it. So I would include a parcel like a map. You can do a screenshot or something and just print it with an arrow pointing to it. Would not take a look at the map. Call me, I'll tell you all about it. The title is cleared, taxes are paid. It's in great shape, but I need it sold. Today I am desperate. Call me and please make me a cash offer right now. Your phone, name and phone number. This. You could have a go to freedom soft, but I would have it redirect to somebody who answers these calls. Live these. You don't want to make these goes to voicemail. So you just big fat Sharpie on a yellow pad of paper. Now remember, it should be a big a good deal. Crumple it all up and then fold it into fourths. Now you got this crumpled up piece of paper. It's really kind of weird and obnoxious. That's why I say, don't throw me away. Put it in a handwritten envelope and an invitation envelope in hand, right on there with two stamps, one of them being crooked. Maybe a penny or $0.01 stamp or something. But this thing, when they get the envelope that feels clumpy, then when they open it, they see some crumpled up paper in there. What is this? And they open it and they they're going to read it. So when I send this letter out, I get sometimes 20 to 30% response rates, which is astronomical. It's huge. And I'm talking directly to the buyer who's looking to buy more land. And I've had so many buyers call me and say, man, I just wanted to tell you, I love that letter. And I may not be interested in this property, but I want to tell you that I love that letter and I'm going to steal it. I'm going to start using it for some of my deals that I'm posting.

Josh:  That's great.

Joe:  But so you send that to investors that have bought land nearby in the last six months. You could send that to neighbors who own vacant land in the area. You can send it to anybody who owns vacant land in the two square mile radius. And send that. Now in Freedom Soft, I do. If you can't crumple that up. It's in direct mail templates and it's called desperate motivated land buyer yellow letter. And so this is kind of like it. The problem is it's not going to be able to crumple it up. You're sending it through freedom soft right. But this does work as well. And I have that same kind of thing in a postcard. Take this postcard right here that's handwritten. Duplicate it right here and you can change the background to yellow, the font to handwritten bold font, and just kind of write something in there like that. So the postcard works well, just not as well as the actual letter that's been crumpled up. And so once you do the original one, you can just don't crumple up the original one, but you can make photocopies, make 100 color photocopies of the crumpled up letter, right? And then crumple all of them up, refold it. I learned that trick 15 years ago from one of the guys who started Freedom Soft with Preston Ely way back. This must have been 2010 or 11, and I've been doing it ever since, and it's always done well for me. I don't know if it's never not worked and why more people don't do it. So. But now what happens is you get a deal under contract. You've talked to 10 to 20 realtors, you've talked to 5 or 10 buyers that might be interested in or whatnot. You're going to find out whether you have a good deal or not. And, they're going to tell you. Yeah, you know, I looked at it. It's not it's in a wetland. Now, the snow access I had the student tell me of the day. One of their buyers went and looked at the property. No, a drone pilot to take pictures, and the neighbor chased them away with a gun or so it's like. You'll find that stuff out from these guys, but you'll know if you have a good deal or not. Now you can go back to the seller. You can say, hey, this isn't going to work, and you either cancel or renegotiate. You can also go when you're talking to the hard money lender, you can already say, I've got five realtors that say they have buyers that are interested. I've had three buyers that are telling me they want it and they're looking at it right now. So like, that kind of stuff builds up your case to borrow the money from somebody. Does that makes sense?

Josh:  Right yeah, absolutely.

Joe:  And you'll find some of these buyers are repeat buyers. They want everything you can get. And then we had a buyer in Florida send us an email a couple months ago saying please send me more deals. He gave us a list of 15 zip codes that he's buying in. He's like, and he this was a guy who paid us a $45,000 assignment fee. A few months before that, he was like, oh, don't go. I don't care what the assignment for years. I don't care about assignments. Just bring me your deals. And so you'll find some buyers like that once in a while, right?

Josh:  Yeah, no. That's great. That's awesome. And so, Joe, when, when do you suggest, like, going ahead and pulling the trigger? Like, obviously if we can sell it off market quickly, that's the best bet. When do you suggest going ahead and listing it on the market?

Joe:  I would, I would say after you've already talked to realtors and buyers, so you can get the feedback to know if you have a deal or not. Yeah, you've already found a realtor, but it sounds to me like you were approaching that realtor of like, hey, can you list this for us? So it's different when you're approaching realtors, can you list this? Or if you're approaching realtors, do you have a buyer? Yeah. So most realtors don't like to list vacant land because it takes too long to sell. Yeah. And it's too far for them to drive to it. And it's just it's. Yeah, it doesn't sell as well as houses. But if you talk to somebody who's already selling land, who maybe already has buyers, it makes everything a whole lot easier. But if you have a good realtor right now, that's like, yeah, I'll listen. This is great. They're giving you a good, you know, go ahead and go that route. I was still try to do some marketing on your own to find buyers. I don't know if that realtor is going to be cold calling these other investors or calling other realtors, if you know. So some of that you may need to take on yourself.

Josh:  Yeah, I'll definitely get to work on that. We've got a ton of deals to sell, so I want to get some. I want to get them as many of them sold as we can.

Joe:  So work on cleaning up the Freedom Soft in the statuses, okay. Make sure every lead has this task open assigned to somebody. In the future, I'll move those properties that are under contract over to properties. So if you go to that orange, when you're looking at the lead, you go to the orange button. There's a thing there that says Add had two properties or change to property or something like that. Yeah. And then get on the phone and I would start being aggressive with the buyer side of the marketing and calling some other realtors. If I would have buyers get this thing sold as quickly as possible and you want to price some aggressively, don't get greedy and try to get as high as the price as possible and then slowly lower your price. I want you to be like lower your price right from the get go to sell it quickly, because then, you know, it's just like houses. The longer it sits on there, they're going to be like, what's going on? The other thing is, it's real important to get good photos of these properties. Don't just rely on Google Street View or Google Maps, Google Earth. It's worth the money to get a photographer out there, not just with an iPhone, but with a better camera and drone footage. If you can. You can find drone footage photographers from drone video, but that's usually a little bit more expensive. Thumbtack or TaskRabbit. Some of those local buy sell trade groups. You can find people on there that will take photos, drone footage for you, Craigslist. You can post things on Facebook Marketplace, but, thumbtack and TaskRabbit. Try those two. My guy really likes thumbtack. He gets a lot of good. Help them from them. Okay.

Josh:  That's great. All right. Awesome. Thank you Joe. This is great.

Joe:  All right Josh. We'll talk soon, man.

Josh:  All right. Appreciate you. Thanks.

Joe:  We'll see. Bye bye.

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