Joe: Hey, what's going on, guys? Welcome to REI In Your Car.

Joe: Hope you're doing awesome. It's a beautiful Friday morning right now. I just dropped my daughter off at school, and I wanted to talk about something that I think is going to be super helpful for you. A lot of you guys, you want to do marketing, you want to do land deals, but you don't have the budget for direct mail. You don't want to spend a lot of money on direct mail, or you don't have a lot of money to spend on direct mail. Now, let me preface this with a few things here. We're not in the real estate investing business, right? We are in the marketing business. Whether you're doing houses or land or apartments, even if you're doing janitorial businesses, right? Like or roofing or plumbing or whatever business you're in, your primary business is marketing.

That's it. Right? So marketing is a lifeblood of any business. And if you want to be successful, if you want to make a lot of money, you need to be really good at marketing. You need to understand marketing. Marketing. You can't just outsource it to somebody else. You need to make sure either you're doing it or you're personally managing it. And you have everything lined up with KPIs or key performance indicators or metrics.

You have scorecards. You're tracking the numbers. You know what you need to do every single day, every single week to meet your projections. All right? It could be number of letters and postcards. It could be amount of money you spend on ppc. It could be number of hours of cold calling that you do those kinds of things, right? Flyers, bandit signs, like, you should have on scorecard, at least two or three things that you're doing or your team is doing or somebody's doing every single day or every single week consistently. We do this challenge every week. It's called the Flip Dirt Challenge.

You should go check it out. Just go to flipdirtchallenge.com right now. It's free, and we might be charging for it in the future, but it's really, really good. It's amazing. I love doing it. It's awesome. And we just had one of the biggest groups we've ever had this week doing the challenge. And so I spend a lot more time talking about free forms of marketing. And I teach people there's free and premium marketing. So free was what I wanted to talk about today on this episode. Super important. And this works. You know, even if you do are even if you are doing direct mail, because this is, this is really crazy. But it involves this thing, it involves using a telephone, right? It's funny. Have you ever called this thing a telephone? It shows your age if you call it a telephone. But okay, so it's real simple.

Realtors, I want you. And this is crazy because as I was teaching this, I gave everybody homework in this five day challenge. And I told them, right, your homework for today is to find one realtor with an older vacant land listing and send them a message. And guess what happened the next day, people come back on the challenge and they're freaking out, like, oh my gosh, it actually works. They're so excited. So anyway, this is, this is cool. It's very, very simple. And this is what I want you to do. Go to homes.com I like homes.com the best for this because it always gives you the phone number of the actual Realtor who's listing the property. Okay. Zillow, Redfin, they don't give you the phone number of the listing agent normally sometimes they do because somebody else, another Realtor, is paying Zillow or Redfin for the right to put their name and number on there so they can be your buyer's agent. So that's how Zillow makes their money. And Redfin, you know, you can't blame them for wanting to make money. But it's hard to find the listing agent's contact information on Redfin or Zillow. So I like going to homes.com I think you could also do this on realtor.com, so just check that out. But this is it.

So you go and you're going to look, you want to find a good market where there's a lot of land activity. And I would suggest either at the county level and, or the zip code level, find a market where there's a lot of vacant land being purchased recently in the last three to six months. Okay, Isn't this driving automated, what do you recall it? Automatic driving thing in Tesla. It's amazing. It works really well. But I am watching the road. All right, So I like cheap land, right? So I'm going to go to homes.com I'm going to look in my specific zip codes and I'm going to look for, for vacant land that's been on the market for over 180 days. That's six months. And I also like to look for cheap land. So I do a price max filter of like let's say 100 grand sometimes, you know, maybe 50 grand or whatever, depends on the where you are. But I'm looking for cheap land that's been on the market over six months. You can also sometimes do keywords. So don't do like maybe you could do on the market over 30 days and a keyword search of the word motivated. So sometimes Realtors will put in the description seller is motivated. So you can do a search for that. The, the other thing you can search for are price drops.

So you could go in and say, all right, show me all the properties that had a price drop in the last 30 days or, and have been on the market over three months. Or give me all the properties that have been on the market over three months that have had a price drop 30 days or more. So there's different ways you can do that, right? Different filters you can use. But the point of it is, you find these Realtors contact information on these potentially motivated seller listings, and I want you to either call or text the Realtor and ask them a real simple question. Hey, I'm an investor. I see you've got this listing here. It's been on the market for six months. I'm an investor. How negotiable is the seller on their price? That's it. This does a couple things. Number one, it tells that in that Realtor, you're an investor. And they know as an investor, you're looking for deals, you're not going to pay full retail for it. You might be a wholesaler, who knows, right? Like you're an investor. And second, you're asking, how negotiable is the seller on their price? Or you can say, is the seller negotiable on their price? I'm not making an offer. I'm just trying to find a realtor who's willing to work with an investor and a Realtor who's willing to admit or tell me that, yes, their client is willing to negotiate on their price. Super simple, right? So when the Realtor replies to that message, yeah, my client is negotiable or they're considering all offers, that tells them, okay, that tells me, all right, this is maybe a realtor that's interested in talking to me and they know I'm not going to give a full price offer.

They know I might give a lowball offer. So you can also do the same thing by calling them. And I did a video about a year ago, and it's one of my most popular videos on my YouTube channel called Watch Me Call Realtors Live. And on that, I need to do more of These call realtors live, and I ask them about their. These deals, and it's the same thing. So this is kind of how the conversation goes. Let me rewind. On homes.com, there is a section in there where you can fill out like a contact us form. So what you do is you go into homes.com and you type in there the same thing. I see your listing here. I'm an investor. How negotiable is the seller on their price? And you send it. And then that's what my. That's what was the homework I gave to everybody in this challenge. And they came back.

Some of them, like, within the hour, were messaging me in the chat like, oh, my gosh, this is working. This is a great. This is exciting. And people were just getting excited from the little small win of a realtor saying, yeah, they might be negotiable. Make an offer. All right, so this is crazy. And I'm gonna talk. I'm gonna kind of go through the script here in just a second. But this is why it works so well, because, number one, I kind of don't care necessarily about that deal. And there's a reason why it hasn't sold yet. It's because it's overpriced. They're asking way too much for it. There is a price that any property will sell for, but they're just way higher than that prices. That's why it's been on the market for so long. Right. I mean, I know I'm in a good area where there's a lot of demand, a lot of people are buying properties.

Right. I love these deals because I. I love talking to the realtors, not necessarily for that deal, because if they're asking $30,000 for it and it hasn't sold yet in six months, they're asking way too much. I probably need to sell it for 20. Right. And if I'm going to sell it for 20, that means I need to offer, like, 10 for it, maybe 8 grand to 10 grand. So the chances of a seller accepting my offer going from 30 down to 10 is really slim, but it actually happens a lot. One of the people on the challenge said they just responded. They were so excited. There was a property that was listed for $90,000. All they did was ask the realtors, this client, negotiate on their price. The realtor responded back, yes, they're willing to drop their price down to 50. So just by asking that question, the seller dropped price from $90,000 to 55, 0. All right. Without even negotiating anything yet. So this happens a lot.

Well, maybe a lot. It happens. Not a lot maybe, but. All right, so I know, you know, if I'm going to have to make an offer at like 15, 20% of what their list price is, which is high to begin with, the chances of me getting that offer accepted are slim to none. But that's not the entire point of the conversation with that realtor. The point of the conversation with these realtors is the networking, the building the relationships with them. Because my conversation is going to go like this. I'll kind of go through my script. Okay, so. Hey, Jim, this is Joe. I'm not calling it a bad time, am I? Good. Listen, I'm calling about this property. You have this half acre lot in city area. I'm an investor. I might be interested in it.

But can I, can I ask you some questions about it to see if this would be something I would be interested in? Okay, cool. So I asked questions about the property. Tell me about it. You know, what's the neighborhood like? What's the area like? You know, tell me more about it. While this is crazy. So there's a flashing school speed limit sign and the Tesla slowing down for the school speed limits, which is interesting. Anyway, anyway, so now I'm coming to a stop. This Tesla's pretty smart. Kind of like you're going to be after this podcast episode. All right, so my goal in the conversation is to build a relationship with this realtor. My goal is to get them to send me other off market properties that they might find in the future before it goes on the market. So the conversation kind of goes like this, you know, hey, Jim, tell me about the property. You know, what's the neighborhood like? What can you do with this property? Can you build on it? Does it have paved road? Does it have good access? Are there utilities on the property? A lot of times they're not going to know, right? Because this thing has been listed for six months. Realtors don't like listing these things. They sit on the market forever. They don't make very much in commissions.

So they're just relieved that somebody's actually calling them. Right. About this property. I ask questions about the property, then I say, well, you know, how long has it been on the market? And because I know, I'm looking at it, and then they say, oh, I don't know. I said, oh, no, wait a second. It looks, looks like right here, it's been on the market for six months. Is that right? Yeah, yeah, it's. That's been six months. Oh, Man. Okay, so what's going wrong? What's going on? Is there. Is there something wrong with the property? Why hasn't it sold yet? And then they'll say, well, well, you know, usually. Usually they say it's overpriced. Ah, okay, I get it. So, looks like a nice property. Nice area. You know, why do they even want to sell it? What's going on? Realtors aren't supposed to tell you this, this kind of information, but they do all the time.

And they might say, well, you know, they just don't want it anymore. They have a bunch of properties they're trying to get rid of it, and they're just. I said, well, they're. They're not in a hurry to sell it, right, because it's been on the market for six months. Well, yeah, I don't know. They're getting interested. They want to sell. And I say, well, man, I don't think I'm the buyer. I don't think I'm your buyer, actually, because I'm going to have to get it way less than this. Oh, by the way, Mr. Realtor, listen, I don't have an agent representing me right now, so if you. If we can make a deal happen here, you can represent me and get both sides of the commissions, double dip the commissions, however that works. Would your broker allow that? They usually say, yeah, that'd be fine, because I want that agent to know I'm not wasting their time. I want to give them commissions. I want to make sure they're paid, you know, and I want them to help me get this deal under contract. And I say, well, what do you think the property is actually worth right now? Right, in this crazy market? Do you think, do you think $50,000 is a fair price right now for this crazy.

Well, I don't know. Probably not. And so when I'm talking to them. All right, so this is a roundabout up here, and I'm going to see if the Tesla can go around the roundabout the right way. It's a brand new roundabout they just finished building about a month ago. And we'll see if they get this right. I'm a little nervous. Go, go, go.

It's not working. Hold on. Here we go. It should have gotten over one lane earlier, but it worked. All right, so do you think it's a fair price? Right, and then I'm going to look at that property on Zillow or Redfin, and I'm going to look at similar properties on the active listings and sold listings. Then I'm asking the realtor first. I'm looking at active listings. I see. Oh, you know what? I'm looking at similar properties currently for sale right now in this area. And I know this one's listed for 50, right? Yikes. I'm seeing some that are listed right now for 40,000. For 35,000. 30,000. That's. Did you know this? Does your client know this?

There's similar properties right now in the market for, like, 10 grand less. And sometimes I'll say, why would I want to pay them 50 when I can buy this similar property that's bigger for 40, you know? Well, I don't know. It's a good question. Well, let me look at solds real quick. All right, so then I flip to Solds. This is important to learn how to do this while you're on the phone with the realtors. You flip to Solds and you zoom in or you zoom out until you get enough comps. And you sort this list of comps from low to high. So you see the lowest comps up there. Right. And now I'm looking at sold comps, and usually you can find sold comps in there that are half of or more than half of the current list price. So I'll tell the age. Oh, no. I'm looking at solds here. Good grief. Yeah.

I don't think I'm your buyer. I'm seeing solds here that sold for now, 30. The seller's asking 50. And this is common. I'm seeing soldier for, you know, 10, 15, $20,000. And the realtor usually says, oh, wow. Yeah, Well, I don't know. I said, well, you know, I don't know. If I'm your buyer, you probably. My offer is going to be way too low. I'm going to need to be probably in this price range. That's not going to work for your client, is it? And then they're going to say, well, I don't know. I mean, make an offer. We'll see what they say. I say, well, what if we just did this? Mr. Realtor, I appreciate your time.

How about I just email you a number, and then you will call the seller or text them and see if that works for them. And if they're interested, then you could write up a contract, send it to me, and we can go from there? Is that okay? Yeah, sure. It's great. Okay, so. And also, by the way, Mr. Realtor, I got to get going here. I'm in. I'm in a hurry, but if you ever find another off market vacant lot that I can buy at a significant discount, I will pay you 10% commission so you don't have to list them.

You can just call me. Do you have anything like that right now maybe? Or can I send you my contact information? So if you find a property in the future that is discounted, that's off market, would you call me about it? Yeah, sure. They always say yeah. And a lot of times they'll tell you while on the phone, you know what, I know this other property or I know this property right now is listed for, for 30. And I know the seller is willing to negotiate down and do a lower price. Or they'll say something like, yeah, I just talked to this guy yesterday. See these realtors, listen, they do not want to list these properties. They don't make much money on them.

They sit on the market forever. They only get like a $thousand commission, $500 commissions and whatnot. And it's a big giant waste of their time. They listing vacant land because they think there's not enough buyers. Whatever, whatever. So when I tell them, hey listen, I'm an investor, I'm a cash buyer, I can close quick, etc. Etc. You want to do a deal together or not, or whatever. So these realtors will, will give me their deals because they don't want to list them. All right? So I get that realtor's information, I'm going to email the realtor the number that I'm willing to offer on that property. And I just say, you know, I'm always the reluctant buyer. That's really important to understand. I'm always the reluctant buyer. And their realtor will say, yeah, you know, that's probably, that number's probably not going to work. But then I remind them again, hey listen, if you find any other off market deals, let me know and I will gladly make an offer and I'll pay you 10% commissions on any other deal that you send to me. You see? Understand everything I'm saying here because I got to go, I'm late for another call, but I hope this is helpful for you.

Right? Go to my YouTube channel, by the way, Joe McCall and then search for the video that I did on my channel called, called Watch Me Call Realtors Live. And you hear the actual conversation with a couple realtors and I'm going to give you a script that I use in that video. And it's really cool. This is a great way if you just called five realtors a day. Oh, this is key. You get these realtors contact info, right? You send them an email, you send them a text, whatever, put them into FreedomSoft and you can set it up where it sends them an email and a text every 30 days. Hey Mary, how's it going? Joe here, you probably don't remember me, I'm a land investor. I'm looking for deals in the city, county area.

Do you have any deals? Do you have any off market deals? I'll pay you 10% commissions. And you keep on emailing and texting Those realtors every 30 days and phrase that different ways. And it could just be as simple as, hey Mary, this is Joe. You don't remember me? Has that client sold that property yet for XYZ or whatever? This is crazy. It works really, really well. It's all about networking, right? So if you could call five realtors a day, in a month you've talked to 20 times. Five, you've talked to a hundred realtors in one month. Month two, you talk to another 100.

Month three, you another hundred. Now every month you're sending 300 texts and emails to all these agents. Okay, come on here. In multiple different markets and you're telling them, hey, listen, I'm an investor, I'm looking for deals. Do you have anything off market deals? I'll pay you 10% commission. Send me what you've got. You may never need to do direct mail ever, ever, ever again. Okay, so a couple things here in the Dirt Flippers program we give you free proof of funds letters.

And in those proof of funds letters, they're legit proof of funds letters. You can send those with your offers to the realtors that tell them, hey, listen, listen, you know we've got the money. We can close on this deal at this price. We have the cash. Don't worry about any of that. We can close in 30 days. We also partner with people in deals. So if you want more information about my Dirt Flippers program, join my next challenge. Go to flipdirtchallenge.com you might need to do www.flipdirtchallenge.com. the link will be in the description. Okay, appreciate you guys. Gotta go. God bless. Bye.