I’m with my partner, Gavin Timms, and we’re driving around St. Louis after the 1st day of one of our Implementation Workshops.
Listen to what happened for two of our students, Mike and Pam. We set up a text marketing campaign for them. We sent out 60 texts and within 10 minutes they had 13 responses of ‘maybe’ or ‘yes’!
Tomorrow, we’re going to teach about how to talk to leads and do some role plays. We’ll work again on impressing upon students that they don’t have to see the house—that’s such a hard concept for them.
Two students who signed up late for the workshop didn’t have data to work so they went on Facebook Marketplace, called some property owners and they got ‘yes’ and ‘maybe’ too.
We give the students scorecards, which gives them a method for tracking their business and, most importantly, their ‘to do’ list. We schedule coaching calls to follow up with students and we partner with them on deals. In fact, maybe we should rename it the Getting Crap Done and Getting Hot Motivated Seller Leads Within Minutes Workshop!
Listen and learn:
- Students start marketing to leads on 1st day of the workshop.
- We love seeing students’ faces when they get responses from leads.
- It’s actually better not to visit the property… let contractors estimate repairs.
- Watch the Virtual Case Study video on YouTube.
Mentioned in this episode:
- Joe’s podcasts on iTunes: Real Estate Investing Mastery Podcast
- Joe and Gavin’s Case Study: VirtualCaseStudy.com
Download episode transcript in PDF format here…
Joe: Hey, what’s up? This is Joe McCall and I’m with…
Gavin: Gavin Timms.
Joe: We are driving home from day one of our implementation workshop. I think Gavin, I want to change the name of it and call it the getting crap done and getting hot motivated seller leads within minutes workshop. What do you think of that?
Gavin: I think that sounds awesome because that’s exactly what’s just happened.
Joe: It is so much fun. I’m so excited. We actually, okay, where do we start? Let’s start with Jim and Pam. They’re from Florida, they go to Wisconsin once in a while, hang out with their kids and we just did a campaign for them. We actually, well we’re not going to tell you all of our secret ninja tricks, but we got them some really hot motivated seller leads from somewhere in the inter webs. And we ran a text messaging campaign and we’re not like going to the white pages and getting these phone numbers and these phone numbers are coming from websites where they’re advertising their property. So they put their phone numbers out there, they want people to contact them, right?
Joe: So we set up a marketing campaign and within 10 minutes, I’m not kidding, we sent out 60 text messages and they had 13 people respond within 10 minutes with a maybe or a yes. 13. So what does that almost 20% positive response rate?
Gavin: That’s ridiculous.
Joe: And those, those were for sale by owners and just insane. And then we also ran some campaigns for, what’s his name? Don’t tell me, don’t tell me, Shawn. Shawn from Nebraska was there with his business partner or assistant friend mark. And we sent some campaigns. He’s been kind of running the campaigns for a few weeks, so he’s already kind of going, but literally why we’re there. We sent some marketing out and he got a seller lead that responded back within a minute saying yes, call me. So the text message we sent out to his list, and these were high equity lists of absentee owners. We sent them a marketing campaign and basic message was, hey John, this is Shawn. Actually we used his wife’s name, didn’t we? Lorraina. And we said, hey, this is Lorraina and I’m contacting you about your property at address. Did I get the right person? That’s just the text or would you be interested in selling? Did we get the right person or whatever? And the seller within seconds responds back, yes, please call me.
Joe: So Shawn called them and said, hey, I’m Lorainna’s husband and how you doing? I just got your text and talked to the seller and it was great. We had a five minute discussion when the call was over of like what Shawn could have done better differently next time. You know, how he could have maybe asked different questions, but you know, obviously he’s nervous. There’s, you know, 10, 12 other people looking at him so he’s not on his A game. But he did fantastic he did great. We talked to the seller and basically left it where, you know, the sellers probably on a scale of one to five, three or four in motivation. And so Shawn’s going to run some numbers and send them a text and then going around the room, almost everybody there except one or two people because we don’t have their data yet they just signed up. We didn’t have time to get them their data. We’re sending out marketing and getting leads like leads as in somebody who says, yeah, I’d be interested in selling my house or doing a lease purchase or whatever. But how cool does it get any better than that?
Gavin: No it’s insane guys. And I’ll tell you what makes it Joe, to be honest, is their faces when it happens. Because it’s like you’ve talked about it, you hear it on these podcasts, your hear us talking about it on Facebook, whatever it is. And then when they see it and it’s their leads for them to call, it’s like priceless is something that, I don’t know it makes me smile now thinking about it, they were so happy. It was incredible.
Joe: It was just exciting to see their excitement. You know, it’s like getting a Christmas present or something like that and getting these hot leads. And then tomorrow what we’re going to do is we’re going to show them tomorrow how to talk to the sellers, how to come up with offers. And depending on their situation, maybe it’s just a cash offer, maybe it’s a lease option offer. We’re going to help them come up with different offers and then we’re going to run through some scenarios and some role plays. But everybody in the group is going to come to us tomorrow with a potential lead and a lot of them are just going to be working these leads that they have now. And then tomorrow we’re going to just take them one at a time and actually start making offers to these homeowners. And so I just, man, I just get so excited.
Joe: I love this business because it’s not that hard. I mean, you don’t have to be a rocket scientist, you don’t have to be an engineer, you don’t have to be super educated and highly intelligent to do this. I mean, we set up the systems for them, we give them the leads, we push the buttons with them and now they’re getting leads just like that. So I’m looking forward to tomorrow. Tomorrow we’ll do some role plays. We will work these leads that they have, but also work some possible scenarios and do some role plays. It’s one of the things we like to do a lot. We may even call some sellers live tomorrow talk to them. Do you have to go see these homes? Gavin get this question a lot. Do you have to go see the houses? Do you have to take pictures of the home and what’s our answer for that?
Gavin: Absolutely not. No, I think it’s more like a mindset because alot of our clients in the room, want to go and see the first instances and someone said, yeah, I want to go to the house. And people will argue all day with me on this, but for me, absolutely not. I want a contract before I go to the house 95% of the time. And the only ones that have an excuse not to is if they’re elderly or they’re can’t work the computer or operate it, then maybe yes someone will go. Because here’s the thing guys, I’m just going to be honest with you. I see myself in sales and marketing, okay. I can sell anything to anybody, whatever it is. I’m not in real estate because you don’t want me going into a house to do a rehab for you because I’ve got no clue what I’m doing.
Joe: That’s so funny. Gavin tells us, he says like, I don’t want to look at a house. I don’t know what I’m looking at, I have no idea. And that’s from a guy who with our team we were wholesaling 5 to 10 houses a month. You don’t have to know. I mean it’s obviously Gavin does know something about houses, but like you don’t have to right.
Gavin: Yeah, absolutely have. You know, obviously I do, but when it comes to, oh is it $7,000 for this roof or $10,000 I have no idea. I don’t do it. And neither do some of the investors doing flips. If we were to do flips, we have contractors to tell us that. So here’s the thing guys, you lock the deal up and say to the seller, yeah, I’m going bring in some contractors to, you know, to look at the house and check out the roof and check out the plumbing and all these electric, that’s what the contractor, i.e. your buyers, if you’re wholesaling is going to be do it. So why do you need to go and do it? Because if you go to the house and do that and you come up with the repair costs that’s wrong, and then the seller knows that you’ve already seen it can be then harder to renegotiate the deal if needed.
Gavin: So we’ve always found it’s better off to lock that deal based on some simple numbers of square footage, you know, does it need paint and carpet? Maybe $5 to $10 a square foot and then kind of working from there, $15 for rehab, maybe $20 $25 depending on your market. And you can get pretty close with the numbers just from that. So locking up the deal and then when you get into the buyers, you can do this all from the phone and a laptop and you honestly don’t have to go.
Joe: So let me ask you something. Would you rather go to a workshop, Gavin, a bootcamp that just going to teach you about how to do deals or is actually going to sit down with you, open up the laptop, do some marketing, and actually get some leads from sellers that say yes and then send, then actually send offers and maybe even buy some houses. What kind of, which one of those two workshops would you rather go to?
Gavin: I’d rather do the implementation one, okay. Because that is the one that’s going to make me money and I’m not knocking, although there’s tons of people that sell courses and do these things. But if you’re going somewhere that’s just going to say direct mail and bandit signs is behind the times unless you’ve got a big budget. And that’s just me being completely honest. You need to run a business for profit, okay. So you need your cost per lead down, you need your profit margins there, sell them as high as you can get them as low as you can, but the leads is what it’s about, how much it’s costing you to get them leads because that’s how you’re going to stay in a business and build a business and actually build a team. If you’re spending $15,000 a month and then your partner and you’ve got all these expenses, an office expense and team expenses and you’re only making 5% or there’s a problem, you’re not going to last. So you know, make sure that, you know, there’s tons of good people out there, but make sure you go in and there you’re actually getting the implementation side of actually making money in the business. Like we talked about before and I can’t say enough talking, making sales, making offers and following up is exactly where it’s at.
Joe: That’s it. That is it. So I just, there was even a father and son team that were there. These guys they were going in and we don’t have, they just signed up, right? So we didn’t have time to get their data.
Gavin: We’re waiting on the date, right.
Joe: Waiting on the data and we didn’t, but you know what they did? They’re just not sitting around sucking their thumbs or whatever, twiddling their fingers, whatever they are. They were getting into Facebook Marketplace and sending messages to people that had their houses for rent and for sale by owner on Facebook Marketplace and sending offers, sending questions like, Hey, saw your property looks really nice. Can you tell me a little bit more about it? Are you the owners? Is it still available. Would you consider maybe leasing it for a year and then selling it? And they were getting yeses.
Joe: There were getting yeses just right there from the conference room. I’m really glad they have high speed internet wifi, glad the wifi works. We would be in so much trouble if the wifi didn’t work. But yeah, we have these workshops and Embassy Suites. Embassy Suites is awesome, I’ve always liked staying there and so I’m so excited. Tomorrow is day two we will send you guys another update after the next workshop and we’ll tell you a little bit more about what’s going on. But you know, what’s the point of all this? What can you take away? Well, number one, you need to come to our next workshop and the number to take some of what we just told you. I mean we just dropped some knowledge bombs good out there go to Craigslist, go to Zillow, start sending text messages, start sending emails, start making phone calls, start making offers.
Joe: And it’s all about implementation over education. Education is important and we are going to teach, especially tomorrow, how to talk to the sellers. You know, we’re going to give them scripts, we’re going to give them contracts and we’re going to give them checklists and things that you kind of need to be aware of. But it’s all about implementation. You could have all the book knowledge in the world and there’s a lot of guys that were there talking about this. You know, I’ve spent thousands and thousands of dollars on education I am sick and tired of just learning I want to start doing, and so that’s what we do at these workshops. So much fun. I’m not trying to plug it, although I am kind of like you need to come out here guys, if you’re in that place where you’re stuck, you’re a professional student and you’re sick and tired of buying courses and you want to start buying houses, well let’s talk because this workshop is going to be for you.
Joe: We actually implement the systems. We start the marketing up we rev it up. Every single one of these people that are here, these private clients of ours, they’re going to go home with leads waiting for them to talk to and make offers on and do deals with, and then they get our support when they’re back home, we’re not leaving them high and dry. We’re scheduling another call a week afterwards to review their, everybody gets a score card. It’s another thing we spent some time today on is creating a scorecard so they know what they, what they need to do every day. They’re not walking away, because so many people go to workshops and they get overwhelmed like, oh my God, all of this stuff. No, the only thing they’re walking away with really is a scorecard. It’s their marketing plan and we’re putting the numbers on that scorecard and we’re going to hold them accountable to that. So we’re going to coach with them, coach them through the deals, partner with them on deals. It’s a lot of fun I’m excited about it. That’s why we do this.
Gavin: Yeah. We’re also tomorrow, Joe as you know, we’re going to go over some deals that we’ve actually done ourselves and show them, you know, from start to finish how the, how the deal came in, how long it took to work, how long it took to get the contract and to close. Did we need to renegotiate, you know, what were the, what were the good things happen in the deal. What didn’t go to plan? How did we adapt to get it done? Because it’s important as well guys. I mean, there’s a lot of checks we all see them, you know, flying around. But I like to know how, how did it work, what happened, what went into that deal? Because it’s important and here’s the thing, it all starts with a good system, good leads. And then if you can learn the craft on the phone and the followup, then you’ll be in business for a long time. Making a lot of money.
Joe: Okay. You all are saying enough already enough already. How do I come, right? How do I get to the next one? All right, what we just did, Gavin and I just released yesterday or today, a new case study that we did that kind of detailed how we did over $155,000 in the last two months doing this in a virtual market. And we actually show you what we did and what we just did for all of these folks here at this workshop, if you want to see that video in that case study, go to this website, VirtualCaseStudy.com VirtualCaseStudy.com, it’s about a 45 minute video Gavin and I pull back the curtain. We actually dive deep and step by step, this is what we do. And then we show you how you work with us if you want to.
Joe: If not, that’s fine. You’re going to get enough value from that video that you can start taking massive action. And if you want to work with us, there’ll be a way that you can reach us, but you need to watch that video first. Again, go to VirtualCaseStudy.com and cool, we’ll see you there. Gavin and I will do another podcast mañana tomorrow. And we’re on our way right now to go take my daughter to gymnastics and I need to concentrate on my driving so she doesn’t miss her gymnastics game. I’m not gymnastics, volleyball, volleyball. All right, so, we’ll see you guys go do a VirtualCaseStudy.com VirtualCaseStudy.com we’ll see you guys.
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