You don’t have to be smart or good-looking, and you don’t have to spend thousands of dollars on marketing and virtual assistants to become “stimulus ineligible”. Gavin and I are going to keep it simple and talk about the steps you need to take to make 2021 your best real estate investing year ever.
Is it really as easy as investing in marketing, talking to sellers, making offers, and following up? Yes, but we also believe that creating a system will help guarantee that you don’t let anything fall through the cracks. That’s one of the reasons we help people create systems that will almost guarantee your success (but you still have to put in the work).
You can purchase all of the real estate courses and watch all of the videos laying out the perfect real estate strategies, but until you take action, nothing will change for you. Let’s talk about how you can stop working on your amazing CRM, and start making money because you’re making offers.
I’m also going to cover two of my new, favorite topics: small towns and flipping vacant land. Everyone’s so focused on the traditional niches that they’re missing out on the huge benefits from both of these angles. It’s so easy that even my teenagers are doing them with me.
You don’t need to do everything to be successful. We’re talking about outsourcing your weakness, and focusing on what you’re truly good at. Our students are currently killing it right now, and we want you in on this action.
Joe: All right, guys, hey, what's going on? I am Joe McCall in the house. Gavin Timms. I always get excited. Hopefully my video is OK. Is it all right, Gavin?
Gavin: Yeah. You're in. You're back. Focus.
Joe: I was having some problems before. I hope you guys are doing well. That is our free coaching call. And we are here to help you do a couple of things. Number one, we're here to help you become stimulus ineligible. We want you to become ineligible for the stimulus. Let me give you a little history background to this. I thought it'd be funny the other day to create a T-shirt that said ineligible for the stimulus. And I did a little image of it on and I put it on on social media. And I got ripped apart to shreds. Like people were so mad and offended and upset that I would make light of the stimulus and the recession and all the people that needed help and stuff. And so, like lesson learned, I felt really, really small. I felt really bad. I tore the post. I took the post down. It was not it was insensitive bragging about making too much money when a lot of people are suffering. So I apologize if any of you listening to this or watching right now were offended by my Facebook post.
Joe: But I started thinking about this. I started thinking, Gavin like, maybe we should teach people how to become stimulus ineligible. Like right now, the stimulus. If you are to be qualified, you need to make under seventy-five thousand dollars a year. If you're filing single, if you're filing as a family, I believe jointly it's over one hundred and fifty thousand or something like that, I think. Right. So a lot of you guys, I get it, a lot of people out there need the stimulus. So I'm glad it's available for the people that need it, but I'm not getting any of it. Are you getting any stimulus? So we're not gloating? We're not saying we don't get it, but let's let's do something about it. Right. Let's do something about it. And so we thought, let's do a coaching call. We'll make it free. We'll put it out on the YouTube's in the Facebook's and the what do you call it, the podcast was put it out there and let's teach people what it's going to take to be successful in 2021 if you want to get more leads, if you want to do more deals, if you want to make more money in the fastest and easiest way possible without using any more of your own money for down payments, don't have to go get financing.
Joe: We're talking about a fast cash, quick turn strategies. Then we're going to do that. We're going to help you and show you right now how to do that. So we've got a lot of people on right now. It's growing. We're out. We're broadcasting this right now on Facebook and YouTube. So if you're watching this right now, please type in the comments in YouTube or Facebook and say, hey, tell us hello. Tell us where you are from and we'd love to give you a shout out. All right. So we've got someone is asking, why are you not live on YouTube? I am live on YouTube, Wayne, because watch this. Good. I can't read this. Good girl properties says, hey team right now on YouTube. So we're there. We've got I can't read this here. Jagno watching from Minnesota. I didn't think you were bragging. OK, well thank you. Somebody saw my post and didn't think bad of me. And then Tim is also saying here I would wear a shirt like that.
Joe: So here we are, guys. We want to answer your questions. We got Joseph Gambino. Hey, Joe from New Jersey and Gavin even right here says hello. Look, I'm going to say hi to everybody, to everyone. And I just did a comment there on Facebook. Hey, everyone, what's going on? Listen, this is a call for you. We want to answer your questions. We're going to share with you some really cool things of what you need to do to succeed in 2021. We just want to make sure you are there, like we've got Y g right now. Hello. On YouTube. All right. Watching in Arizona. Glad you're here. Why? And so we wanted to share with you some cool things. And we're going to start here in just a minute. I want to make sure everybody's on. I emailed my list and I told everybody that you need to either go to my Facebook page or my YouTube page. So hopefully you guys have found it. And if you have found it, I'm glad you're here. And how do I know that you found it? Well, we have our ways. We have our ways.
Joe: How do we know that you're watching us right now? Well, we have our ways, right? We know we know these things. And we're not even Google or Amazon or Apple. First thing real quick, as we're going to go about an hour, an hour and a half, we want to answer all your questions. We share with you some cool things that we see are working in twenty, twenty one. If you don't want to stick around, I want to just make sure that you know this up front right now. If you're interested in getting some help from me and Gavin, go to REINetwork.com/systems, REINetwork.com/systems on that page. We're going to tell you a little bit about this program we have. We will set up this stuff for you. You don't have to worry about it. You can just focus on making money. You can just focus on talking to sellers and making offers will set up the systems and we'll give you the views and we'll do the marketing for you. So check that out. Gavin, you want to know? I've been talking and talking. I'm sorry.
Gavin: I know you could. You're on a roll, so I'll just leave you to it. But, yeah, I do want to say. Appreciate everyone getting on. I know it's late for the East Coast, people like me, but yeah, as Judge put that link on, we have got a couple of spots open next week for business set up. So if you're interested, make sure you get in, get your application. We go in application order. We will get to everyone, but just bear with us. Sometimes we get a lot of traction with this, which is really good. And we do look at everyone individually. I just want to say this, that we have to make sure that you're a good fit for both ways. You're a good fit for us and we're a good fit for you. We do not take on everybody. This isn't a cold. We're not trying to sell tons of them. We've got a couple of spots open for set up next week.
Gavin: If you want in, make sure you go to that link, give us some information. We'll talk. If it works out, we'll move forward. So I just want to say that also with everyone watching before and if you're watching the replay on this show, you like and subscribe to the channel to be watching on YouTube. I also have a YouTube as well. REI network with Gavin Timms. You can go there as well. Make sure you like subscribe. Check out what we've coming out. Just keep engaged with as we're here. We're trying to give as much value as we can for you tonight. So anything that you need, any questions we're going to try and cover as much as we can.
Joe: OK, nice. Let's go into a first of all, we get a lot more people coming in. I just want to make sure we're saying hi to you guys. This is from Pepé. You're welcome for doing this. Marchman Ro. I like Mark. He's in the house. Evening, gentlemen. We've got Wayne again from YouTube. We got more. What's going on, Ma? And we have this man. You guys are just typing in so fast. A Ronald East Bay, California. Nice. This is a good question from Joseph. Where are all the motivated sellers? The same place where all the fish are in the water? Well, we're going to talk about that because we're going to be talking about how to find the leads and what you need to be good at all. Look at this, Tim. Come on. Tim said I scored a deal during your thirty-day challenge, holding the deed now. And I have a buyer getting finance now. Yes. Tell you what Tim's talking about is a 30-day challenge that we did recently where we went into a new market and did a bunch. I went to two or three different markets.
Joe: And by the way, again, if you are wondering, that was a 30 day market. I did. I went into Nebraska and I also went to a couple of different markets a little bit in El Paso, Texas. And I did some land vacant land marketing in Jasper County, Texas. Just today. We got our second to contract our second property under contract in Jasper County and El Paso. We are working on a couple of leads that are really solid. No contract yet as far as I know. I haven't talked to Esther in about four or five days ago, but we got this twenty-acre vacant piece of land about two hours outside of Houston, Texas. We got a twenty-acre piece of land under contract for eighteen thousand dollars. And guess how much it's worth. Eighty thousand dollars. All right. EIghty thousand dollars. Now we're not going to try to sell it for eighty thousand. You know, how much renovations do we need to do on that?
Joe: We can't on vacant land really? Well, you could go in there and put utilities in and all that, but we are going to sell it for probably thirty-five. Forty thousand dollars. If similar properties are selling for Annie, do you think we'll be able to sell it fast? Yeah, our goal is to put this thing on Facebook marketplace and get it sold within a couple of hours. That's so. Or we might even probably sell it for cash, but we could if we wanted to sell it for owner finance and get payments, sell it on terms. But those of you that are in the challenge like you, Tim, congratulations. I will be updating the membership site for from that thirty day challenge with those details of these deals as they as they get done. Right. And Tim is in New Hampshire. Cool. Glad to see that. And Todd is in Chicago from Chicago. What's up, Todd? How are you? And good. We got another question from Lamar. Lamar, listen, we're going to be or more we're going to be answering all of the questions here in a minute.
Joe: So as you guys go through this, if you haven't already say hello, tell us where you from right now in Google and Facebook or YouTube and say hi, tell us where you're from. And if you have questions as we go through, we're going to answer all your questions. All right. But again, if you're interested in working with us, check it out. Our system area, network dot com systems. And look at this Pepé. Oh, man. I did the 30 day challenge as well. And I have two houses under contract. I'm assigning one of these houses this Saturday for twenty three thousand dollars option fee and this gets tonight. And then congratulations Pepé. That's awesome. And that's awesome, Gavin.
Gavin: That's why we do it, for them. It's cool. It's cool for us to do deals. We've got I think four in closing. We got three more in the contract this week. Super active. And it's awesome, right, when your team does deals. But there's nothing better when someone has been following you or you've said something where someone else gets a deal, and especially if it's that first deal or it's a big deal, it's awesome. It's something that I can't explain. I know you know what I mean? And people in the coaching industry, it could be golf or whatever. It's all then then feelings of when someone else does it, it just means so much more.
Joe: It says, Thanks to both of you, man, I'm so proud of you guys, Pepé, and who is the other one? Tim. Tim Yeah. Proud of you guys. Awesome. Congratulations. I love it. So it makes it all so much fun and so worth it. All right. So the comments are coming in. And so we got some good questions here. Keep them coming in and we'll get to them. Like Haresh, you've got a good question here about Zillow leads in California. William, you've got a good question here about doing deals out of the New York City area and how do you find boots on the ground? People. So those are good questions. We'll get to those here in a minute. All right. We want to talk about here. What do you guys need to do to succeed in twenty, twenty one? All right. This is really important because if you want to well, we'll talk about here. I think this is the most important thing we can say here. You need to be brilliant at the basics, OK? If you want to get more leads, close more deals, make more money and automate, systemize it all. You need to be really good at the basics.
Joe: We're not talking about anything fancy here. There is no magic pill. There is no secret formula. There's no little trick. There's no secret list. Right. There's no secret technique. There's no special thing that you can say. It's just being really, really good at the simple, basic things. And that should encourage you guys. Right. It's not about how smart you are, how good looking you are like us. I'm just kidding. It's not about that. It's about being really good at the simple basic things. And I'm hoping that you are encouraged by that, because that means, you know, you don't have to have a fancy CRM. You don't have to have spend thousands and thousands of dollars in marketing. Right. It helps. But you don't have to. You don't have to have twenty virtual assistants doing all of this stuff for you. Right. You don't have to know how to do lease options and subject to landowner financing and cash deals and commercial titles in houses and land. And you don't have to do all of that. You have to just be really good at the simple basic things.
Joe: And the best students that we've had that have done the most deals are the ones that are really good at just one or two things they're really good at. There's one or two things. I feel like this is going to be really important for a lot of you guys. This is where you're going to find your breakthrough in 2021. If you're going to succeed and do some deals, make some money and become ineligible for the stimulus so that if it comes around the second or third time, you will qualify. Wouldn't that be a good problem to have? You won't qualify for this. So what are those things that you need to be good at in twenty, twenty one to make a lot of money in the real estate investing business?
Joe: Well, it's real simple marketing because this is what the business comes down to marketing, talking to sellers, making offers and following up. That's it. Talking if you've got to do marketing right, you've got to get the phone to ring or you need to make the phone ring when you're calling people and you need to learn how to talk to sellers. And we're not talking about, like for marketing. We're not talking about sending thousands and thousands of dollars on direct mail. We're not talking about fancy complicated Google paper clinic or Facebook. That stuff works. But like, you don't have to do that. We're talking about simple, effective marketing, like a laser beam. Right? We're not spraying and praying and hoping that we're spending thousands of dollars in one of these leads will stick like throwing spaghetti on the wall.
Joe: We're talking about hyperfocus, targeted marketing to the right people and then talking to sellers. It's just a simple matter of asking questions, asking the right questions, and not spending longer than three to five minutes talking to the seller. The first time you just asking them questions, trying to find their motivation. OK, now, once you get the marketing going and you start talking to sellers, you need to learn how to make offers. Now, making offers, I think is the most important part of this business. Why write this down? This is a writer down it right here. Your speed to income is directly proportional to the number of offers that you make. Your speed income is directly proportional to the number of offers you make. There's no ifs, ands or buts. There's no work arounds. There's no like you got to make offers. And guess what? This should encourage you. Again, it's not that hard to make offers. So let me think about this. If I want to make a lot of money in 2021, I need to make a lot of offers. So what if I make three offers a day? Oh my goodness.
Joe: Can you talk now? Listen to this, because when we teach making offers, this is once you learn how to do this, it's so simple. It's just like when a seller says no on the phone, then don't offer any way. Right. That's what we're talking about. And when we're talking about making offers, once you learn it, how we do it, it only takes like a couple of minutes to come up with an offer. So if you want to make a lot of money, it means you need to make a lot of offers. And the more offers you make, the more money you're going to make in this business. So I think that would tell you somebody like, oh, OK, I get it. I should start making more offers. And you're absolutely right, Gavin. Like, how much does this happen when somebody is struggling, you know, and we're talking to them and they say, I'm just not working, I'm getting discouraged. What's the first thing that we ask?
Gavin: They ask for the numbers. How many offers have you made?
Joe: And most of the time it's like zero or five. How many offers have been made in the last week? It's usually nine times out of ten. Not enough when somebody comes to us and says, I'm having trouble. How many offers have you made? And they say, well, I've made 50 offers, that that never happens. It's like the where is this the craziest thing with our most successful students? Guys, it's real simple. They make a lot of effort and they do. The fourth step here, a follow up. So once you've made your offers, then you follow up. And here's the powerful thing. And Gavin, maybe you can talk about this a little bit more detail, but like, it's a game of momentum. It's like you're pulling a train and it's really heavy and you're pulling it with the rope and it's hard. But once you start getting some momentum, it starts getting easier and easier to pull. Right. This is where the follow up comes in, because month one you've made if you're making 15 offers a week, let's say, and then at the end of that month, you should have made 60 offers. Well, then month two, now you have 60 people to follow up with.
Joe: Guess what happens, month three? You've got one hundred and twenty people to follow up. What happens month four? You've got one hundred and eighty sellers to follow up. And I can't do another month because I'm going to lose my number tracking. But there you guys, you get the picture. 90 percent of your deals come from the follow up. We talked about that a little bit given me.
Gavin: Absolutely. I want to just say as well that you need to be coachable, right? Every car that we work with, you need to be coachable. So what do I mean by that? For us to have any impact with anyone that we work with, you have to be doing right. We talk about taking massive action. We have to be doing marketing to get leads coming in. Right. Well, you get in the right market in are you talking to the sellers and are you making them offers? Because if you're doing them things, you become coachable to make changes. And Joe's exactly right. It's kind of like the first three things. Once they're in place, then the follow up kicks in and then it just continue. Continues, continues. And we're talking about follow for us. You have different types of leads, hot leads, warm leads. They need to be done by a phone call first. In my opinion, a phone call trumps the warm and hot leads all day long in our system, in our business. Anything that's a cold follow up, someone that you just made an offer that wasn't really interested. Then you can use automation to do that. VAs or systems are really simple to be sending things out.
Gavin: So that is just a point of contact that's happening for you and as soon as they reengage in a positive way. So what is a positive engagement for me? Anything but enough maybe. Tell me more possibly. How's it work? Any of them words again, that goes back to the phone book and that's what a follow up is. So you engage by using systems to do it for you. Again, REI Simple is one that I would recommend you can put workflows on to do that as soon as the SAS. And actually now I am interested actually. Yeah, I do have a question, anything like that. Then you get the back on the phone, you can the acquisition or however that yourself and when you do that, where there's no leads, get left behind and you don't miss things in the cracks because you don't have things settled right, then you're going to do more business.
Gavin: One of the first challenges that I do, if I get someone with experience that joins me, that's not consistent and they don't follow up the first thing that I make them do before we do anything. All right. And I'm sure I know some of you on. So you know this. They have one hundred leads in the CRM. I make them go and call every single one of them back. And I want to know how many sold because they didn't follow up. And that one hurts. Right. But it's important. How many did you not follow up on and then how many is still alive? How many of the situations have now changed? And that's super, super powerful because over one hundred leads. What you're going to see is and what just did this with a guy in Florida said, yeah, we've lost two deals and it sucks, but it's like, OK, well, now you understand what they told you when you said they're not motivated. They sold to somebody else. Why did they sell to someone else? Because you didn't follow and somebody else did. And thatis how you're going to maximize your profits through follow up follow ups.
Joe: Important, by the way, guess who we have in the house? Come on, Melissa, what's going on? Just texted me saying you're on live again this every time I've got Facebook, you guys are here. This one going to help you? Yeah. So she's here and she said something else here. Oh, here we go, baby. This is what I wanted to pull up. The money is in the follow up. And we looked at over a 12-month period how many deals you did and how many came from the follow up. You talk about that?
Gavin: Yeah, absolutely. 2018, for instance. Fifty-eight deals we did. Fifty-four came from follow up. Right. Fifty-four deals. So your competition that you're all doing when you're just picking the leads that come in that are ready to go, that's the difference between two full of deals and we'd be all our business right. It's now a hobby at four deals. So to build a successful business, you've got to be doing the follow up to get them numbers up. And that still today, nine percent or more come from the follow up. I wish it wasn't the case. I wish I could say it was fifty fifty. But I'm just going to be honest, it isn't because of the proactive marketing that we do. Our lead gen is cold calling and texting is the number ones.
Gavin: They come at the cheapest price so we can maximize profit, we can do PPC, we can do direct mail and I'm not they all great. They're going to bring more motivation to the table faster. But are you profitable? I mean, Joe, you spoke yesterday about sixty-five dollars a lead. And I know people in the industry that will snap your end off a sixty-five dollars elite. Phenix Months ago when I spoke to someone, they were looking at three fifty to four hundred and twenty five dollars per lead for PPC in Phenix. OK, well that was our dollars per click click. OK. All right. Sorry that so super stupid expense crazy. So per lead for 400 bucks a lead. I mean they add up real quick and they'll get scary and you better start closing else you're going to be turning off real quick.
Joe: I'm hearing that a lot. I've been hearing it for the last year or two. By the way, Melissa is in the house. Hi, Melissa. We sure appreciate and like you, Melissa sent me a message one time saying every time I go to the beach, I do a deal. She lives in Birmingham, Alabama. I think they still live there, right?
Gavin: Yeah, they still live in Bama. Yeah. Yeah. So they're but they still travel well, obviously. But normally they go to 30A. I mean, no, that's your spot as well.
Joe: I love working with Melissa. I mean she we first met her. She went to one of our workshops in San Diego. Her husband kind of dragged her there and she kind of reluctantly went and reluctantly started doing the real estate stuff. But she started doing deals. Right. And then Gavin one time was talking to her on the phone about a particular seller. And he just said to her, well, what are you going to do now? And she said, you know, I don't know. I'm just going to keep on following up. And then all of a sudden the light bulb went off light bulb. Anyway, I got one in my background right there. And Gavin said, hey, you want to work together? And so how long have you guys been working together now? Three years or something. Or four years. Years. Yeah, it feels and crushing it. Right. Melissa understood the importance of follow up. She's like, you know what? I'm just gonna keep on talking to them. I'm gonna keep on following up. And the cool thing about using systems like the right systems, you can get that follow up automated and done for you in spite of you, which is where the money is at, right?
Gavin: Yeah. And one thing I want to say as well, that once you have that and you build it, you can then take it into multiple markets, which is what we did. Right. So we can do deals. Like I said, in Maui, we got one. So me here in Savannah, Melissa in Bama doing deals in Maui. So you can just if you think big enough, you can literally do anything. If you have the right system and you work the right process, then the deals will come and that's what everyone needs to do. And one thing before we do move on that everyone needs to do, you don't need to do it right now. You need to write down is like a little case study for yourself. It's kind of where you are now. Where do you want to be? Because when a new year and one of the craziest things in January is that everyone tries to take on the new year by storm and they've got all these ideas and they're all pumped and excited. And the question is, was you doing the same thing last year and did you actually do anything right? So you need to be documenting, like, where are you now? Where are you going to go?
Gavin: And what are you going to do is you're going to create a gap. And we do this with all of our clients because that's then when we build that plan and that marketing plan that we're going to come to, we're going to put that plan in so you can get from where you are to where you want to be. You have an action plan. Hold up. Well, what's that? What is that going to do for you? It's going to give you a plan to then be able to focus, OK? You're going to be able to take massive action. You're not going to get overwhelmed because you know exactly what you need to do. The overwhelm kicks in is because you watch normally too much training, right? Too many videos. And I know you're on one now, OK, but you're going to take one thing. You're like take one thing and implement it is the same. If you've got Joe's lease option course, don't go and watch. The reason that we put one video out a week is because it is purposely do it. We're not holding information back, but we know and we've tested this. We give you all the training in one go, you watch all the videos and then at the end you overwhelm. You don't know where to start. You don't know where to begin. So when you get one video, if you implement what's in that video, you're not going to get out of the well that way. And then you're always taking action, moving forward to get to the deal faster.
Joe: Just wanted to share a really, really good. I want to talk about also follow up. A lot of you guys, you have old leads, OK? If you want the fastest way to a deal, if you have old leads and listen, if you don't have old leads, somebody else does. I'm telling you, one of the fastest ways to a deal are old leads. In this 30 day challenge that we talked about before. One of the things that I did with Esther, she gave me about eleven hundred old leads and I just took one hundred of them, did a text blast campaign through REI Simple and picked up sixteen. Yeah, I might be interested in selling. So the text was simple, like, hey, we talked a little while ago, you probably don't remember me. I was calling you about your house about one, two, three. Main Street. You haven't yet have you, or would you be interested in selling. It is still available and that's about a sixteen percent positive response rate, because we did some follow up, so Esther's working those leads right now and calling them back up another one of our rock star students who we helped set up the systems. And she's just a workhorse. And I tell you, it's funny when I think about this, some of our most successful students were all women, which is awesome. We got a small rock star.
Gavin: Steve Zimmer messaged me today. He said, I've got five contracts this week. I'm trying to get six. And I don't know if I can do it. But Steve Zimmer, and he might be watching me, but he would laugh. Couldn't turn on a computer. Right. That's enough. People say that content on the computer. But again, he's got the sales side. So really, I mean, they've come on like them to husband and wife. We've just come on so much.
Joe: And I remember I remember they were doing a little bit here and there before, but they were struggling to get momentum and they wanted some help with marketing. One of the first things we had them do is follow up with some of their old leads. And Gavin, you got a real cool story. I love you. I love it when you tell us when you're first getting started in Phoenix. Right. Talk about this. In fact, last time we did this coaching call a guy named Ian from England who was actually on Zoom or was on Facebook here, and he said hello. And Gavin was at a coffee shop and he heard Ian talking about real estate and his wife thought he was from Australia. And they got into a little argument about it.
Joe: And Gavin started talking to this guy, said, no, I do property investing. Well, OK, fast forward a little bit. Gavin is now trying to do real estate in Phoenix, right? Yeah. What happened? This is really cool. This is in the context of following up with old leads. Listen to why this is so important.
Gavin: Yeah. So I spent seven hundred fifty dollars on direct mail, didn't get a deal immediately. I think you actually bought in back then was like forty for a which is insane. I tell you that all day now. So we got really close and really know what I'm doing. I got on with, with a coach back in England and he was like, have you been to LA? You've got to network. And I was like, all right. Well, so I go on me to come meet m e t dotcom. I have to spell it out because my accent people can't get it. So I did that Tuesday. It was as I will be in tonight. So I called the organizer. No how is the meeting. And it's like, yeah, you just turn up, you don't have to like sign it or anything. So I turn and I'm basically in a room for a probably forty, forty five people in there. And it was still one of the best events. I talk about it because he got everyone, he made everyone stand up individually and say what they did, what they were here for. So you have wholesaler's rehabbers, hard money, private money, contractors have everybody there so you can literally just write everybody down like who you wanted to connect with.
Gavin: And it was kind of coming around and I was kind of in the middle. So I was thinking, right, well, here's my chance. It's kind of come in like, what am I going to do? And I was like, just be honest, just stand up, you're new, like that. Because, I mean, I'm a sales person as well. So I can kind of be a little bit. I mean, I was. I was. Yeah. So it was so. Oh yeah I was. So summer is probably ninety-nine, five degrees and I'm in like slacks and a shirt dress shoes thinking it was investors. Right. I mean surely they're all going to be in suits. So I roll over and everyone's in like shorts, flip flops, t shirts. So I stand out like a sore thumb already. Right. So you can imagine I'm from England if that's not standing. I know if I'm in this, I mean, it's like, what is this guy doing? I could only think what people would think so. But when I stood up, I just said, hey, I'm from England. And then they probably all thought, well, that makes sense what I was wearing.
Gavin: And I basically said, I'm from England, new to the business. I don't have money for marketing. Does anyone get any old leads? I believe I can close deals. Let's connect. And then I said, here's my number. And then and then there's a lady as I left, and she said, we need to connect. So I said, OK, so after she said, I've got to go, what can we meet tomorrow? A coffee shop. I think we might be able to do something. Yeah, sure. So we met at the coffee shop. She bought a laptop, she pulled a spreadsheet open and she said, I've got sixty dead leads if you want to call them. I did mail three months ago when she had the notes and I could see it was it was in December, three months earlier. And she said, do you want to call them and see if there's anything there? And I was like, Oh, absolutely, I'll call them. And they were dead. I mean, they were in the notes dead that that everything was the status is ruled dead. So no problem, I'll call them. So I just individually dial every single one.
Gavin: And then over a week spoke to about 40 people contacts and we got two contracts. And they were the first two contracts that I ever did. Both of them closed. They were small deals. But there was so much that I got from that because I would even say I don't believe in luck, because I think you make your own look right. So I had to be in the right place at create the opportunity. But the key was that I learn from the get go that this is follow. These people have said this that I could see in the notes and then when I have a conversation that has now changed. So whenever that was told before I. A period of time, it's changed. I remember the first deal, the lady said we offered eighty-five thousand in the notes and she said, now I'm going to put the money in, I'm going to clear out, I'm going to do it up and I'm going to sell it myself. OK, no problem. Three months later, she's not going to think stay in position. And she said you have not done anything. I think I'm actually going to just sell it. So we did. We bought it. And that was the first deal just because of the timing. But then the best thing is, is that I'm very big on creating opportunity. You have to seek opportunity. I just record a podcast on this to seek an opportunity. No one is going to come to you. You cannot stand on the sideline. You have to get and make things happen.
Gavin: Of course, she thinks now looking at may have just closed two deals from nothing. She thinks like this guy's brilliant and he's new, so she's all fired up. So I was like, well, look, what if you pay for the market and I'll do all the deals and you can get rid of them? Aluva because I get the contracts. I didn't want to put things in my name. I don't know what I was doing and that's what we did. So she started spending two grand on marketing. I was taking the calls during the follow up, getting deals, and that's how I started. And then from that work with another two people doing the same thing. So I have three people on marketing on the phone, full deck, just trying a lot of deals. OK, that was it.
Joe: I love it. I love it. The money is made on the phone call.
Gavin: Absolutely. Exactly right. I mean, this is where it's at. And the good thing is and the way that we teach it is that if this isn't your strong point and we say you've got to outsource it, you've got to partner up, you've got to do something because someone's going to be on that phone. The same positions again, brilliant at the basics of four basic things that need to happen in every business. And if you're not covering one of them and there's a there's a gap in there, then the whole thing won't work. If you don't market, you got no one to speak to. If you market and you don't talk to anyone, you can't make an offer or you can make code offers and you need to then quadruple your marketing. Right. If you don't follow up, then you might do one deal in every hundred and something leave. So all these things have to come together and if the basic things, then you'll grow.
Joe: Very good. I'm watching my video right now on YouTube and my image quality is horrible.
Gavin: It's like you're a painting, and I've just smeared it with my own hand. You're there. But they're so frustrating.
Joe: I just spent a lot of money with this whole setup, the camera, the lights, the microphone, and it's not working. So whatever, you know, maybe nobody wants to see my my mug shot anyway.
Gavin: Sometimes when you're still, it gets you and it's like real clear and then you move and then it's gone again.
Joe: See, I'm doing some I'm doing those of you that are photographers. And I did it like a digital zoom with the camera. So it's not like a lens where you zoom, it's like a digital zoom. And I think that's causing my problems. So I need to get a new lens or move the camera closer to good. You're good. You're back. We'll see the rise again, guys. So far, we've got to be brilliant at the bases, which is the basics marketing. Really, there's only three things. Marketing, talking to Steller's, making offers follow up is just to give it. But that's part of making offers you need to be following up every single month with all your old leads. And so if you don't have any money for marketing, first thing I would tell you to do, go find another investor, another wholesaler who has a bunch of old leads and say, hey, listen, can I follow up with your old leads? Will you pay me a thousand dollars out of each deal or whatever? OK, no good wholesaler that has old leads is going to say no to that. Like, that is amazing. If somebody were to come to me and say, hey, I worked your old leaders in a heartbeat. Yeah. Follow up with them.
Joe: So especially if you're getting started out, just say, you know what, pay me a thousand bucks or half the deal. Right. And you can get people to bring you their old leads. So that is going to be huge, especially going forward if you're a new beginning investor. Because here's the other cool thing about this. You know, if you're working with another investor who has old leads, they're going to help you and coach you with what's going on in the market. Right, because you're not going to know the title companies that you're going to you're not going to have money to close the deals. You're not going to know the contracts to use and all of that. That might be unique or specific to your county, your city. But guess who is going to know that stuff? OK, the investors that you're working there, old leads, they're going to help you with that stuff. They're going to help you figure out who the who has the money, the right contracts to use the right title companies to use. And so it's like and they're also going to tell you, all right, on that side of the street, you're going to make an offer in this price range. On this neighborhood, you're going to make an offer in this price range.
Joe: So that's why it's so important to work with local investors who have old dead leads. All right. My son just texted me. I need to fix something here for him real quick here and I'm done. That's important. Now I want to talk about something else. Know the last coaching call we did we talked a lot about. Creating a marketing plan, and I walked through of all of the things you should do in a marketing plan and how to have a scorecard and hold yourself accountable and all of that. And I felt like, oh, man, maybe I've overwhelmed a lot of people with that. But I didn't want to talk about this, because as you're looking at all of the things that you need to do in a business, you should be asking yourself a real simple question. How can Ido none of this? We're talking about how to ask who, not how.
Joe: Now, when I was traveling, doing deals, virtually. And Gavin, you've done that just as much as I have where you're traveling and doing deals from your RV and going to Europe and stuff like that. So when I wanted to do travel, I knew I couldn't do it by myself. And so I listed all of the steps that it's involved in a wholesaling deal. And I just asked myself a simple question, how can I get someone else to do this all for me? How can I do none of this? And so a more important question to ask, rather than like, how do I do the websites?
Joe: How do I do the CRM, the database? How do I do the marketing? Should I use yellow winker? I mean, yellow paper, white paper, red ink or black ink or how howhow do I do all of this stuff. Stop asking that question and instead ask the question, who, who can I get to do this direct mail for me.
Joe: Who can I get to give me the list? Who can I get to help me set up the systems? Who can I get to make those cold calls, that kind of stuff? That is what successful entrepreneurs do. That is what successful business owners do. This applies to everybody in every industry. Right. Stop asking how. Start asking him. OK? All right. One more thing I want to talk about, too, when we're looking at twenty twenty one that I think is going to be important for you and critical for you to have success are virtual deals, small towns. We I've already seen some of the questions that people typed in here. They are in California. They're in New York City. And how do I do how do I how am I going to do deals living in a real expensive, competitive market? How am I going to do deals in a place like New York City where the cheapest apartment is five million dollars? And it's really hard to do deals when the seller and the buyer have to have an attorney? All that stuff. Right.
Joe: If you want to succeed, I really believe this, you need to know and learn how to do deals virtually and in multiple markets. And it's not as hard as you might think. It's not that difficult. Right. And one of the things I also would encourage you with are the small towns. We've have students that are elderly in their 60s, 70s, maybe I don't know if you've had any students in their 70s, but we would help them do deals in from California, in other states like Oklahoma, Kansas, some of the ones that I can think of, they had very they didn't have very good, strong tech skills. But what they good were good with was persistence and not giving up. They knew how to pick up the phone. They knew how to talk to sellers, but they found other people boots on the ground that could partner with them on deals. All right. So to succeed guys, I'm telling you, you need to learn or you need to stop being afraid of virtual deals. You need to be open to the idea of going into new markets and doing deals in new markets. And also, don't be afraid of the small towns. There is so little competition. Let's say you're in Dallas Fort Worth, right. It's really busy. You should take a look at the two to three counties out and look for those counties that, I don't know, maybe have at least one hundred thousand people in them. There is a lot of opportunity, very little competition.
Joe: One of the people that I've learned a lot of this from is Larry Goerens. His name is Larry Goerens, and he's a friend of mine out of Charlotte, North Carolina. Been doing deals since the eighties. Right. And he's old school. He likes direct mail because it's consistent and he can get good leads from well, he's kept on. He was doing a lot of deals in Charlotte and it got very, very competitive. Big hedge funds came in town. A lot of the training companies came through in town and started teaching people how to do marketing. And so all of a sudden, he saw his lack of competition shrink. So he started getting a lot more competition anyway. So he started he went from seeing his direct mail. Response rates go from two to three percent down to maybe half of one percent, which is ridiculous, which is what a lot of people are seeing now in places like Phenix and Nashville and Denver, Los Angeles and all that. So he started going out one or two counties out. And I'm telling you guys, even today and I talked to him, I just saw his somebody from his team the other day, they're getting two to three percent response rates right now on their postcards, which is crazy, right?
Joe: In these small towns, virtually no competition. And for him, I've learned a lot from him over the last couple of years. And this is what we're doing now. As long as the house is on a paved road and it's thirty minutes from a Wal-Mart or a Dollar General, he will get it under contract and he will wholesale it. There are buyers there, there are buyers there and he just uses local realtors to help him sell the properties. So there's a lot of opportunities in small towns, some mutual friends that are crushing this right now in small towns. So I just wanted to say this is part of strategy in twenty twenty one going forward. If you want to succeed, you need to start looking at virtual deals and you need to start looking at the small towns. Don't be afraid of the small towns. Don't do anything to that.
Gavin: Exactly right. The one thing I will say, just be careful. If you use anything like heat maps or population maps that you can use, you want to really go around the counties, well, as Dallas was a good example. Right, but I'll give you some places like Mississippi, Jackson, Mississippi, you couldn't go on the counties outside because there might not be a house that exists in that. So you need to obviously look at that. But any busy cities, one hundred percent, you should be going around the outside. And I think that's going to be huge for you in any market in that you want to do as well right now. But also cold call in Texas and any of them will will work as well.
Gavin: The other thing I wanted to touch on would be folks on motivated sellers like stop trying to turn deals into deals. This is probably one of the biggest things that I get with the clients and Joe sees as well. When someone wants to just keep thinking it's a deal and looking at every different angle, if the numbers don't work, the numbers don't work, right. You need to move on and follow up until the numbers do work. Now, obviously, we're here to solve problems, but I get the craziest things like this seller is really motivated, so motivated and they've got to sell and they're happy to do a lease option. Right. Or whatever it is, they have a lease option, but they want fifty thousand dollars down. Well, they're not that motivated because they don't need fifty thousand dollars down one of these fifty thousand dollars down. Right. So the deal just isn't going to work. So if it doesn't work, move on, focus on the motivated ones. They're the ones that get your time. I have a rule that if someone is not giving me the time of day, doesn't really want to tell me about the house. Not really interested that my offer gets about two minutes to make. Right. I only want to listen and deal with motivated people and they're the ones that I'm going to spend more time with. And if you do that in 2021, you're going to be more successful.
Joe: Speaking of the small towns now, this is one of my new favorite topics. You ready? Flipping vacant land. I'm telling you. Now, let me explain kind of why I started doing this flipping vacant land. So I have two teenage two teenage sons right now. One is 15, one is 17. And when we started this, there were 13 and 15. And I knew that they're good. Kids are super smart, but they don't have the maturity level yet to maybe negotiate with a seller on a house. There's usually on a house a lot more emotional attachment. There's a lot more to understand about houses and how they're built. And I could teach them. They could learn it. But like, I'm super busy and I said, let's just do land. So I bought a couple, of course, is one of the courses I bought was really good, of course, by Jack Bosch called Land Profit Generator. And I went through the course. I bought a couple more. His was the best and I made my boys go through it. And then we went to a couple of Jack Bosh's boot camps and my kids got all excited like, Oh man, I can have a Lamborghini when I turned 16. No, maybe not.
Joe: So they started learning the land business. Right. And then so what we do is we mail a postcard that just says, hey, do you want to sell your land? And we give a reference number on the postcard. They call a twenty-four-hour prerecorded voicemail. We say on the postcard caller twenty-four-hour prerecorded voicemail and the person who gets the postcard calls it and they leave a voicemail on the voicemail, says, hey, leave the reference number from the postcard on the voicemail. And so my boys listen to the voicemail, get the reference number and then you need code. OK, then they do the research and figure out what the property's worth. And then we send an offer to the seller at twenty-five cents on the dollar. So twenty five percent of what it's worth and I train them how to find out what it's worth by going to websites like Zillow, Lands of America, Land Watch dot com and things like that. So my boys find out how much your property is worth and we send an offer, a contract to the seller at twenty five percent of the value.
Joe: Guess what, I've been doing this. I don't know. We've done twenty something deals 20 to 30 deals. My boys have only been involved in about seven of them. But here's the crazy, awesome thing as we don't talk to the sellers until they get our offer, which is super cool, right? Once they accept our offer, we have three months to close and that's when we do our due diligence. We want to make sure it has road access. It's not on a landfill. The taxes are paid or if they're not, that's fine, too, because we're buying them so stinking cheap, so much. That's dirt cheap, right? We're buying them dirt cheap. And so flipping vacant land is really awesome. I'm loving it. Right. We just as of today, yesterday, we got a call. We got the contract today on a property in Texas. Just like I was saying before, this was a deal that we were doing for that thirty-day challenge. And we've been starting to get postcards responses back. We got a three-point two percent response rate on that postcard, three-point two percent, which is really good. We've sent out fourteen or fifteen offers so far. We've had two signed contracts back. Now we're in the middle of the due diligence part. But one of them looks really good, the other one looks good. But there's nine family members that we're going to need to get to sign the contract and the deed and all of that.
Joe: So we're hiring a title company to help us with that. But guys, listen, this is the numbers on this. Today, it's worth about seventy eight thousand dollars, that's what they're currently selling for, it's a 20 acre lot. It's in east Texas, about two hours from Houston. We're buying it for eighteen thousand. It's worth about seventy eight. Eighty thousand. We're buying it for eighteen thousand. What is that? Let me get my calculator here. And I do 18 divided by seventy eight. We're buying it at twenty three percent of ARV. So there's room for mistakes there. Right. This is why I'm OK with my sons doing this. There is room for error when you're offering making offers of twenty to twenty five cents on the dollar. So we're doing the due diligence. Now here's the cool thing about this. We're talking about who, not how. Right. So I've set this up where my boys make the offers and then I have a partner, a business partner in this little business here side business that does the disposition. So we are doing the acquisitions or my friends are doing the dispositions. They're actually doing the research and selling the property and we're splitting the deal. I believe it's forty five. Fifty five.
Joe: So I'm making fifty five. They're making forty five and it's awesome. They love it. Right, because they have to do the marketing, they don't have to bring the money to the table to close the deal. We make the offers, we get it under contract, we give it to them and then they take it from there and it's a great side hustle. Well, here's the thing. Don't be afraid of vacant land. There's a lot of opportunity now, and especially since Biden, if you believe he is elected president, he's going to be coming into office on January 20th, most likely now, right in six days. Well, there's a lot of people in the survivalist prep communities that are going crazy right now wanting vacant land. They want to buy some land so they have a place to bug to go bug out. Right. A place to go hide their guns from the government because they're going to come and take them all the way. Right. They're going to they want to hide their food in there. They want to have a place where they can go build a cabin or just ride their four wheelers or hunt or do shooting practice or just hide from the government. All right. You see what I'm saying here? So the demand is really rapidly rising for this vacant land. There's people in Houston that are I'm not trying to knock anybody.
Joe: I'm not trying to talk about politics. I'm just telling you what's going on right now. Our phones are lighting up for this land. People are looking for vacant land where they can go and camp or maybe build a cabin in the future or like where we are in Texas, a lot of people harvest the wood. They will buy this land depending on how old the trees are, and we'll cut the trees and replant new trees or they just want to ride their four wheelers and go hunt things like that. All right. So flipping vacant land is pretty cool. And so we buy them at twenty five cents on the dollar and we sell them for 60, 70 cents on the dollar. Sometimes we sell them and that's for cash. Sometimes we sell them on terms with owner financing terms. So I'm excited about that. All right.
Gavin: I just want to point I just want to play something real quick. So the idea what Joe's just said, right, is he's built something right where he didn't have to do anything anyway. Right. Because it's outsourced. These boys can get involved. They can learn the business of making offers. So that ticks a box. Right. And it's being done. And then he has a partner on the ground, sorry, a partner. There's going to be doing the rest of the work. So you need to think when you actually look at life from a lifestyle business, you have to look at what you're trying to do and then you can implement it. Really important to Joe knew what he was trying to do. So then he could go, OK, what if I do this and this and I do the marketing and this person does this and this person does that, then it all comes together and then money's made. And that's how you need to start thinking this year, is that you don't need to attack everything on your own collaboration. All the deals I do is some kind of partnership, whether it's flippin, whether it's wholesaling lease options. There's always other people involved with all the deals that I do. And I think if you do that, yes, you're split in profits. Yes, you share in profits. But what's more important, your time, or the money yourself. I mean, what is it? You've got to figure that out. And when you do, you can implement the plan.
Joe: All right. Here's the cool thing. Somebody is asking like Barbara here, who does the land inspection? Google Earth? Does the land inspection. OK, we there's no inspections needed. We can just go to Google Earth, which is pretty cool. Sometimes, though, we do hire somebody to go take pictures and shoots, do some drone footage. Thank you, Tim. And thank you, Joe. And thank you, Jamie. All right. So let's talk about the next thing we want to talk about. I'm looking at my notes here, OK? I'm going to talk about multiple offers here in a second. But I just want to talk about this website link again. If you're interested in getting our help with setting up these systems, finding the virtual assistants, getting your list, skip, tracing your list, doing the marketing, whether it's cold calling or direct mail or scraping and texting Zillow and things like that, we have teams in place that will do all of that for you. If you're interested in getting the CRM stuff set up your website, set up the phone system, set up all of the techie stuff if you're interested in getting us to do that for you. So you can start asking who not how go to REINetwork.com/systems, we will help you do that.
Joe: OK, now I'm going to talk about multiple offers here in a second, because I think this is going to be really important going forward. And then we're going to jump into your questions. We've got a lot of people on here. If you have questions, we want you to type them into YouTube or Facebook, and we will get to them as soon as we get one. Right. Real quick, let's talk about multiple offers, because sometimes I think, Gavin, this intimidates people, right? When we talk about making multiple offers, we don't want you guys to think that every seller you talk to you need to be making multiple offers to. OK, we're talking about as part of the follow up, you should give them options when you're first talking to a seller. You're not trying to do a lease option deal. You're not trying to do a cash deal. You're just trying to do a deal. Right. You're talking to them, trying to find out their motivation. They may have zero interest in selling right now. And that's fine. They say no, but guess what? No means not yet. So what you should be doing if you want to go from getting one out of 30 offers accepted to three out of 30 offers accepted, start learning how to make multiple offers to the nose. I'm not saying lead with multiple offers. I'm saying make multiple offers to the nose. And how do you do that? Well, it's really simple. And we're going to show you right now some formula.
Joe: So get a pen and paper and you're ready to write these little simple formulas down because this is what's going to help you. Now, don't worry about getting it right to the Nats, but just make the offers. So this is how really quick and dirty way that's going to get you in the ballpark of where you need to be ready. This is really complicated. Cash offers zillow times 70 percent. OK, that's it. Now, if that needs a lot of repairs, do zillow times sixty percent. Right. That's your cash offer.
Joe: Now, if you know how to do lease options, it's zillow times eighty five percent. So write this down, cash, and I'll go through these again. If you're not writing down fast enough for cash offer. Normally when I make multiple offers, I'm making a cash offer. A lease option offer and maybe an owner financing. OK, then why do I do that? Because I want to give the seller's options when I send them after they say no, I send them a letter, says something simple, like, hey, listen, I know you don't want to sell your house right now. Maybe now's not the right time. Mr. Seller, it was great talking to you today about your house. One, two, three, Main Street. I know you don't want to sell it right now, but listen, if circumstances change, please keep this letter for future references. We may be able to help you buy your house in one of these other two or three ways. OK, so it's just a way to get your foot in the door. This is called Foot in the door. Follow up and you send them an offer because when and when you send us in the mail, they're more likely to hold on to this. They're going to hold on to it.
Joe: They're not going to be as likely as throwing it away. And I prefer that you do it in the mail because that way, you know, they're going to read it. It's not going to get lost in the spam filters. It's not going to go into their inbox. And they're just going to say, I'll look at it later than forget. All right. So the first offers cash, Zillow times seventy five percent, 70 percent. Then the lease option offer is Zillow times eighty five percent. That's going to get you the price. Now, the rent for a lease option is going to be the Zillow rent times seventy five percent. So for the price, it's Zillow value times eighty five percent. And the rent that you're paying to the seller is Zillow rent times seventy five percent. What does that mean? Well, for the price you want at least 15 percent equity and for the cash flow and the rent, you want at least twenty five percent of the rent for cash for just general rules of thumb. And if you decide to do owner financing, one of my favorite ways to do owner financing is zero times one hundred percent of what? That's crazy, Joe.
Joe: What are you talking about? I'm talking about principle only payments, seller financing, principal only payments. And for the rent, you're going to do fifty percent of the stuff for the payments on an owner financing. You're going to do fifty percent of the rent and these are going to be principal only payments. OK, so this is just a real simple way when you're making offers for the follow up after they've said no interest is going to be most of the sellers you talk to, I really highly recommend you send them a multiple offer. It's called a three option letter of intent is what this is. OK, and there's no fancy formula for this except what I just shown you here. But send them a cover letter. Hey, it was great talking to you today about your house at one, two, three, Main Street. I know you don't want to sell it now, but if circumstances change, here are one of three ways I might be able to buy your house. Check them out. Keep this letter for future reference. Sellers do that. When you tell them to do it, they do it. A lot of them keep this letter for future reference.
Joe: OK, then when you follow up in thirty days, because you're going to follow up with all your old leads, right? This is what you're going to say on the phone. Hey Mr. Seller, how are you? You probably don't remember me. I'm calling you about the offer I sent you in the mail a little while ago. Did you get it? Do you remember it? OK, this now gives you an excuse to follow up, which is sometimes all you need. But now it's now you're also differentiating, differentiating yourself from all your competition. Guys, listen, your competition is not doing this. Competition is not sending offers to every seller and they are not following up. This is the key to your success in twenty twenty one going forward, make an offer to every seller, no lead left behind, no lead left behind. Send an offer to every seller, ones that say no, send them a three option letter of intent with a cash offer lease option offer an order financing offer. OK then follow up. Hey, I was just calling about that offer I sent you a month ago. Have you sold your house yet? That's going to be a more powerful follow up then just. Hey, you remember we talked a little while ago about your house? Yeah. We're making any comments on that.
Gavin: Also on the follow? Something else she could do is ask them if they know if anyone else interested in selling. Yeah. So don't make it about their house because then it gets them intrigued. What about my house? So we might call and say, hey, Joe, we sent you that offer on one, two, three Main Street a few weeks ago.
Gavin: I forgot to ask, you don't know anyone else is interested in selling to you, so I don't make it about that because that's automatically going to come up here in a second as we start to engage. Right. So you just have to look at different plug ins. And I mean, I always believe with any conversation, whether it's a cold call, whether it's you trying to engage someone for the first time, the first ten seconds that you're going to what you're going to say needs to be engaging and needs to kind of throw the ball to them, want to speak, because that makes sense. But yeah, exactly right.
Joe: All right. So we're going to do some Q&A now. All right. We're going to get in to some Q&A, answer some questions, because I know a lot of you having them. Again, I just want to remind you, our network dot com slash systems, if you want our help setting the stuff up for you, you know, if you want our help creating helping you get the CRM set up where we can, you put in some numbers and it will spit out this three option letter of intent and send it to your sellers for you. We can show you how to do that with our simple. But go to REINetwork.com/systems. And if you have questions right now, please type them in the comment box of YouTube and Facebook and we're going to go through them right now. Somebody from Facebook says here, good looking Gavin Timms and Joe McCall. Finally clear. Nice, Barbara says. Thank you. You're welcome. Bob's got a good question here. Do you use double closings for your land? The answer is usually not. For the vacant land that we do because we're buying it so cheap of most of the land we buy is like 20 bucks. Now we're starting to get into bigger properties, which are going to take about 18 grand. So there's only so many of those that I can buy. I might need to bring on a private investor.
Joe: By the way, if anybody listening to this is interested in being a private investor with me of some of this vacant land, shoot me an email support@JoeMcCall.com. Support@JoeMcCall.com. But because this land, just shocked, I sent 1100 postcards and we still have 20 more offers to send. And I still have another like three to four thousand postcards to send. This land is coming in crazy right now. But anyway, we do close on the land typically and then turn around and sell it. It's just sometimes easier to do that. But you don't have to. We have three months to close on this vacant land and so you can do a double close, same day, double close if you want to. Sometimes it's just better to buy it, close on it. Right. And then turn around and sell it because again, it's not much money. Yeah, OK. Some of these questions I've already asked answered. OK, good question here. I believe from Barbara, what software with the maps should we use? I'm not sure. Barbara, what you mean by that for software, for the maps, should we use are you talking about population review or population?
Joe: So there's a website for the maps that we were talking about it on last coaching call. I actually have it right here. It's called World Population Review, Dotcom, World Population Review, Dotcom. I'm not going to take the time to show that to you right now. But what that is, is it's a website that shows you all 50 states. You can click on one of the states and then it shows you two big, really cool maps by county. You can see where the growth trends are happening and you can see population density by county and you can see population growth by county on this map. And what I like to see is the counties that are the most populated, densely populated counties. And then what are the counties that are two or three counties out that have growth that are one hundred thousand population or more, and that's a good place to go find counties to start targeting?
Joe: So again, world population review dotcom is a place you can go check that out. OK, we got some new comments here and questions. That's a good question from Maalin. Focus is important. You've got to focus on the one thing. It's just sometimes hard to block out the noise. This is a good comment right here from Marland Gavin. Talk a little bit. What? Why is it so hard to focus on one thing at a time? And how do you what do you teach and recommend for folks to block out the noise like Marlen's talking about?
Gavin: Yeah, I think it's is a great comment. I mean, it's multiple things that you can do right. Time block and be prepared for what you're going to work on the next day and focus on one strategy, one of everything you can only physically do. One, if you haven't read the book is called The One Thing. It's really good prioritizing your tasks and then literally completing them as you go again because you're going to be moving, moving forward. And I understand why people do it right.
Gavin: I mean, we sell courses and people on the podcast and that we've got something and everyone's got different strategies. And I think sometimes it's easy just to go to the next shiny object. Right. But all that adds up and it's just a one way thing of money going out and not going in again. When I work with anyone that I work with one to one, I told them that they have to get results before they can go and buy another course or another program or another strategy, because I believe that if you can't get results with me, don't think you're going to go to something else and a different strategy and expect a different result. And why is that? Because the four basic things in real estate that we talked about earlier in this call will never change in any of the real estate businesses or strategies that all the same your in in some capacity, you're talking to sellers again. You could say, well, hold on, land. Yeah, land, maybe not, but the majority of that you will be will be making offers and you will be following up.
Gavin: So focusing s in on one strategy. Super simple. And then you need to break it down and say, right, I need to get this out because we're not getting this Marxian out or hiring the VA to do the marketing or whatever your next thing is. You need to do that before you can then get on the phone. And I think if you break it down like that and then schedule your day to then block time to say in between three-hour block nine to 12, I'm going to achieve these things. So I'm not a big fan of putting pressure like fifteen minutes. I've got to be doing all these things. I just say in this window of time I want to achieve these things in this window I want to achieve on the last Kohji shoot that I did this for, they're like, I'm working eleven twelve hours a day and all I said was ok well with that what do you do. So we went through from the silliest things like eating breakfast, reading, watching the news, doing this, doing that and then I'll answer emails. Do you want to answer emails two hours?
Gavin: You can have two hours and basically what we did was we did all of that, OK, and he was finished by three o'clock in the afternoon and seven o'clock. And it was his day that we planned. And I get big margins. And why is that? Why could we plan that day and finish four hours early is because he's not prepared. He sits there and thinks hours a day, what should I do next? There is so much head space lost through should I do this and should I do that? Or should I get on clubhouse and watch this person speak? Or should I go on YouTube and watch Gavin, Joe, whatever it may be? Right. Well, the thing is, is that you have to plan because if you put the plan into tomorrow and know the schedule, you can knock it out. You'll achieve a lot more by staying focused.
Joe: Yeah, let's not talk about clubhouse. And that's got to be one of the hugest, biggest times sucks I've ever known. I know some people that are spending 10 to 12 hours a day on clubhouse.
Gavin: Yeah, it got me. I did about five hours. The first weekend when you invite, you invited me, it was your fault. I lost five, six hours of my life. And I'm like, what am I doing? I can't operate this week doing this and I've only been on since that.
Joe: It's all talk, all talk and no action. You know, show me the money. You're not you can't show me the money on clubhouse. Now there's a place for clubhouse. I'm nuts, but what's your speed to income is directly proportional, not to the number of hours you spend on sites like clubhouse, not how many podcasts you listen to, not how many YouTube videos you watch. Although we're glad you're here. We're glad you're listening and watching this right now. But your speed income is directly proportional to the number of offers that you make. So get out there and start making some offers. Right. That's one thing that you should be focusing on, making some offers. Got a good question here from Carlos real quick. How do I do lease options as a realtor in Texas? It's kind of forget it. Forget about doing lease options as a realtor in Texas. That would be my advice. Right. You can do lease option assignments in Texas as a realtor, but I think it'd be easier to do them as an investor.
Joe: So if you're going to lease options, do lease option assignments, if you're going to lease option assignments in Texas, then do them as an investor, like my good friend John Jackson teaches and we have a module with him in the course. OK, all right. Let's go to the yeah, good question here from Virginia. Even if they from YouTube, even if they say they aren't interested, you send them an offer, you just mail it to them. The answer is yes. The systems that we set up for our coaching clients in simple, you can create a real simple offer and email it to this company that we use who will print it and send it in the physical mail next day. So next business day they will print your letter, your follow up letter, your three option letter of intent and will send it to the seller and the seller, will get it in a couple of days. OK, this is, we believe in sending these offers in writing because your competition's not doing it and you're more likely to be read and kept and saved from the sellers. All right, OK, Marcia is asking the question here. Hello and happy Thursday. I found a tenant buyer that's ready to move by the end of March. Now I need to find a seller. OK, Marcia, really cool.
Joe: I have a couple podcasts where I interviewed realtors who do this very, very successfully. They find the buyer first and then go find a house for the buyer. Now to do that, though, Marcia, I really believe that you need to get a real estate license and you need, you can't. That's brokering when you go find a buyer or seller for a buyer. Now, there's creative ways around that, of course, but I would say specifically for lease option deals, I would recommend you get your license. OK, now there's a podcast I did with a guy named R.P. Murphy a couple, three years ago, super cool guy, one of the most successful realtors in St. Louis. And this is all he does. He finds the buyers first and then goes finds a house, goes and finds a house for them. So if you want to go find that podcast, just do a search for real estate investing, mastery, dotcom, real estate investing, mastery, dotcom. That's my podcast website. And do a search for Murphy. Arpit Murphy is his name. And listen to that interview is really, really good. All right. We've got some new comments and questions here.
Joe: Good question from William real quick here. Hi, Joe and Gavin. If I want to do a deal out of the New York City area and S.W., I'm not sure what SWO is? A sandwich option maybe. How do I find boots on the ground? Good question. Whether you're doing lease options or cash deals, I always like and recommend realtors find a realtor that can be your boots on the ground. If it's a lease option, you pay them a leasing fee of usually one month's rent. And they can do they can take care of all that stuff for you. And it also gives you more credibility to the seller and the buyer. When you have an agent working for you, the agent is representing you. They're not representing the seller or the buyer, they're representing you to find a tenant, buyer or tenant for that property. So I really like leaning on realtors for me to find my buyers. The same with the cash deal. OK, go and find a realtor to help you bring buyers for your deals. They can be your boots on the ground. They can take pictures, they can help show the home and all of that good stuff. All right. Question here from Haresh. How are you doing here? I could not see many Zillow leads in central California. I need help in finding different areas.
Joe: So, yes, anywhere in California, it's going to be hard to find leads on Zillow. One of the techniques that I like to use and teach is finding rentals and for sale by owners on Zillow and sending the seller a text or an email and or a letter. And if you have the right systems in place, area network, dot com systems, plug, plug, we can set up these systems for you. That with just a couple of clicks, we have a company that will scrape the leaves from Zillow. You can skip trace them, you can send a text to the person who has the phone number and Zillow, whether it's the owner of the property manager, you can find out who the owner of the property is. You can send them a letter and then you can skip trace them and send them a text message and cold, call them and email them. You could do all of that just like one or two minutes with a simple. So now if you're in California, you don't have enough leads. Real simple, right? Zoom out. There's a plus button and a minus button on Zillow. Keep on zooming out until you get enough leads. You could just like one week, maybe target all of the for sale by owners and Zillow and there's not a lot of them but target all the for sale by owners and Zillow the next week, target all the for sale by owners in Oregon the next week, all of them in Washington next week.
Joe: What is it, Nevada or Arizona? And so and then what's the one up north Idaho? So every week just pick a new state. Yep, yep, yep. OK, this is a good question from MA. Do you have a marketing agent contract or a contract to receive compensation for finding a buyer for a wholesaler? OK, good question. Mark, when you are partnering with a wholesaler, whether you're bringing a buyer or seller to somebody else, I like to use just simple JV agreements. Or to be more specific, if you don't have your license, Ma, I'd recommend getting the property under contract with like an option agreement or something like that. That we have some equitable interest in the property and your advertising or marketing the contract. OK, so that's how I recommend you do it. I'm looking you can't see the questions here. All right. I'm just waiting. That said, thank you. You're welcome. Jagno. No, I need this stuff drilled into my head again. He likes repetition.
Joe: OK, good question. Did we answer this? What should I be doing next? And just bouncing from one thing to the next. I think Marlon ask that question a different way before. But this is what we talked about at the beginning. What should you be doing next? You need to be focused on being brilliant at the basics. What are those four basic things? Marketing, talking to sellers, making offers and follow up. Forget about everything else. Just do that. Yeah, Jamie is saying I need an invite, Jamie. I get two or three of them once in a while and I send them away. I don't have any of them. I think she's talking about an invite for clubhouse. So that's. Yeah, yes. Those are distractions. Oh, good question. Here from Facebook user, how up to date is Redfin and Zillow a good question. Zillow is getting better. OK, I really like Redfin. If you're looking for up to date in terms of what's on the MLS, Redfin gets their data directly from the MLS. They have relationships with the local MLS and Zillow tends to be a little more challenging. It's not as current or up to date. Maybe it's gotten better. It's every market is different. So you just need to kind of test it. If you're in Seattle, Washington, you need to compare the MLS to your Zillow and Redfin and see for yourself, which is better.But in my experience, Redfin is usually better with MLS data.
Gavin: Yeah, and Redfin's not in every market either.
Joe: Joe's asking the question here. Which one do you like to use best to get your lease options? Zillow and Redfin. I like Zillow the best because Zillow has a lot of rentals and for sale by owners. So Zillow is the authority is the leader on those two resources rentals and for sale by owner. Right. Do you like by the way, Gavin, if you noticed how I'm looking at the camera. Well, and looking at the questions, yeah. This is part of the whole setup that I paid a gazillion dollars for. Why so? Well, yeah, it's I have a teleprompter behind in front of my camera and a little third monitor. It's like a big iPad. So I'm looking at another monitor as I'm looking at the camera. Fancy. The next time you're here, we will I'll show you how this all works.
Gavin: Yeah. And then you'll cost me a lot of money because I want to copy.
Joe: Josh is a good question. What's a good starting monthly budget for marketing? I would say five hundred bucks a month is a good place to start. The more the better. But whatever you have, you got to make sure you're using it wisely. You need to spend it wisely. You want to add something?
Gavin: I was going to say a thousand bucks if you can do it, what you could do it on, you could do it on nothing if you have time. So you need time, money or both. Right. So if you don't have anything but you have the time, then you can make it work. But if you're working and you can, then you want to really be aiming for a thousand if he can. But you want to also be consistent. So don't do well. Allow people about two thousand dollars and would spend all this month. No. You want to.
Joe: I would say, I would say Gavin I think it's more important to have time than money. Right. Because again, what would it be. Talk about the beginning out. Gavin got started in Phoenix. He had the time he knew how to pick up the phone. He wasn't afraid of the phone and he started calling other investors Oldfield's. So you could do that right now. Tonight, go find some other investors, say, hey, can I work your old leads and you can start doing that. That doesn't cost anything. Absolutely. Or you could do it. My friends that are helping me in the land stuff. Right. Do what they do. They're like, hey, listen, Joe, we'll sell all your deals. You get the deals under contract, we'll sell them. We'll bring you the buyers. That doesn't cost anybody. All right. We got some more questions here. Yeah, Barbara here says I have time, but no money. One of the things that Gavin and I met at a workshop in Spain, I was doing two or three workshops in Spain. And one of the workshops I did from a coach and a mutual friend of ours, he would take the room of investors. And remember, there are 30, 40, 50 people there.
Joe: And I really liked this a lot. And the way he did it, he would separate everybody into two sections in the room and say, all right, those of you that have money and can do marketing but no time or not are not good on the phone. Go over here. Over there. And those of you that have no money, but you have time and you're good on the phone, go over here. So that divided the room pretty much in half. And then you said, all right, you got fifteen minutes, talk network, figure it out. And the crazy thing was I came back out six months later to do another workshop and Spain is cool. Anybody listening to this, if you want me to come and speak and do a workshop in Spain again, let me know. I'd love to come out there and do something. And then Gavin, you can probably come with. But, man, all right. So let's do it anyway. The crazy thing, I came back six months later and there was at least two or three different not companies, but partnerships that were crushing it, doing deals because they found somebody that was deficient in what they lacked or they had what they lacked. See, so one person had money, but no time for marketing or for talking to another person had time, but no money for marketing. And they started working together. One guy did the marketing.
Joe: Another guy negotiated the deals and get them on a contract. So start networking with people in your community, in your investment world and find out who's the who are the ones out there that don't have the money, that have that that has you know what I'm trying to say. Competition doesn't exist. There's only collaboration, right? Yeah. I wish I could say I figured that out and made that up, but I think that came from Tom Croll. All right. All right. Good question here from Virginia. How much do you pay your realtor or boots on the ground person? Also, what's the criteria for Zillow number of days? So when I pay my realtors to help me find tenant buyers, I pay them one month's rent. If it's a cash deal from their finding, they're bringing me buyers usually pay them three percent, maybe on the high end and three thousand dollars on the low end. Just turn your price. Go ahead.
Gavin: You can also negotiate that they have to put their fee on top and figure it out with that cash buyer. So it just depends on how much rooms in it. If we're tight and we use a realtor, we'll just say, look, there's no room. If you can move it, get money from the buyer and we don't care what it is. Whatever you want to put it up, if you'll pay it, then go for it.
Joe: Good guys. Listen, we only have a few more minutes here, so if you have any questions, make sure you type them in. And we're going to wrap this up. We want to be cool, too, guys. What I'd love to see is type this in the comments if you and I'll answer the rest of your question here in a second. Virginia, I'd love to see what are some of the big takeaways you've gotten from this call type in the comments right now on YouTube and Facebook, wherever you are, even on Periscope? I think we're on Periscope. What are some of your big takeaways that you've gotten out of this? We'd love to hear from you. I'd love to see what you're what you what are some of the big aha moments that you're getting from this? The other question for Virginia here was what's the criteria for Zillow number of days? So what I'm looking for for sale by owners or rentals on Zillow, I'm just looking for all of them. I don't care about number of days or how old they are. I contact everybody sometimes on Redfin. I know you weren't asking this, but sometimes on Redfin I will look for homes that have been on Redfin for over sixty days and I will send the owners a letter. All right, let's we got some more questions here and comments. All right, Barbara, her big takeaway is partner with someone. And I'm great on the phone.
Joe: All right. What else, guys? What or else what else are some of your big takeaways that you. Gotten from this, and if you have any more questions, we just have a few more minutes. I'm seeing the chat go crazy over here. Sometimes the chat on YouTube and Facebook does not come over here to the stream our tool that we're using. So here we go.
Joe: Oh, I love this one. Copy Josh. Make more offers. Amen to that. Joe Lacy says Zillow is best for release options and land and get going. Yes, Zillow is really good. OK, for Marcia. She says my aha moment is the breakdown of the offers and owner financing. I'm glad you got some value out of that. Don't overthink it. Just make the offers cash time 70 percent Zillow for lease options times eighty five percent and rent the investment rent type seventy five percent. And then for owner financing Zillow Time's one hundred percent. Just give them the Zillow price and then for the payments to half of the rent principal only payments. Hope that makes sense. But another big takeaway from Marlan be intentional about focus talking to sellers and making offers. I love it, Marlan. You got it. Good, good, good. Wijksays to focus on what I'm good at and network or outsource the rest. I love it, you know, focus on what you're good at. That's the biggest qif, I think, right there. If you guys get anything out of this, you know, focus on what you're good at sometimes. Gavin, I think we need to stop trying to fix our weaknesses and just outsource them, don't you think?
Gavin: That goes for us as well as you guys like, we've all got things that it's like, why are we doing this? Like someone else is way better. Just get them to do it.
Joe: That's a writer downer. Don't outsource. Don't fix your weaknesses. Outsource them. Now we can find a way to outsource working out and exercise and diet, I would be all into that. And if I could outsource somebody else's really good golf swing, I would you'd face some serious money and a lot of money for that. Virginia. Her takeaway would be consistent with the basics. I love it. Follow ups. Then the three-offer letter of intent even to the ones that say no money unless you hate money. I probably would do more of that send off, which is good.
Gavin: We've got no one say in CRM or website, so, you know, watching more training and things like that. So that's awesome.
Joe: Yep. JD says if I can take one thing away, it's the follow up. It's the most important part of lease options. Absolutely right.
Gavin: Any deal, any deal.
Joe: Why GE agrees. Follow up. Follow up. Follow up. I love it. Guido is asking, hey, Barbara, where are you located? So you guys should be able to message each other, I believe in YouTube there. Nick says, always follow up on leads. Marlen's says he's got a question. What is a guarantee? What does the suggested term length? Twenty-four. So when you're doing seller financing offers, I like to kind of depends on the cash flow, really. It really depends on the cash flow. So if I'm getting at least a couple, three hundred dollars a month in cash flow, I want it to go as long as I can. So start with twenty years, which would be two hundred and forty months. Right. I would start with that and then I'd be willing to bring it down a little bit if you can get the seller to agree on a good price. Big takeaway for Jamie. Send written letters to all. No lead left behind. I love it. Yeah. Superimportant Joe thought something was funny. You said Lol. Virginia loves money. Good. Guido says the one thing have laser focused intention to accomplish your goal. I love it. Virginia. Also big take away was virtual markets to small towns. Nice.
Joe: Nick says something funny here because we said get away from the CRM. Nobody says in here that you see is the biggest takeaway. But he says, well, I was just scrounging around my CRM. He has for three tab folders. Not sure what that means, but the CRM is are important guys. We're not saying the database is on board. It is really critically important. But don't focus on that guy. I used to say when I used Podio a lot and I used to teach people a lot about Podio, I would say show me an expert in Podio and I'll show you a broke wholesaler.
Gavin: Right. We had a student once you remember that workshop, and everyone was just like wowed by his Podio. And then we said, how many deals have you done in the last year?
Joe: And you know what it was? We didn't even ask him that. We said, show us you're off because he had an app for offers. He had thousands of Seller leads. And we said, show us your app for offers.
Gavin: How many are you doing? There is oh, yeah, I don't do any deals, but everyone was. Why even we were like, this thing's impressive. Yeah, but he didn't make any money.
Joe: It doesn't matter. Yeah. So Sharon says it's hard to pick just one take away, make off and stay focused. Very good. All right, guys, listen, we need to wrap this up. I sure appreciate you all. I appreciate you guys putting in some really nice comments in here and asking some questions and participating if you can give us a thumbs up. Please, like this video, subscribe to my YouTube channel. I'd appreciate it. Gavin has a YouTube channel at REI Network. If you just Google YouTube search for REI Network, you'll see Gavin there, subscribe to his channel, subscribe to this YouTube channel here. I come out with videos about two to three times a week and I have some really, really cool plans lined up for twenty twenty one. I'm gonna start teaching more detailed, in-depth marketing strategies on my YouTube channel and I'm going to start really diving deep into some marketing that you can do that will get you some leads. I feel like I want to focus on marketing and automation in 2021. And in terms of my podcasts and YouTube videos and stuff. So I'll be teaching a lot more of that.
Joe: And Nick and I thank you. Nick says here, don't give up Joe, I had chippings on three of four holes. Gavin two or four pars. Last was a birdie. Nice, nice. Jaimie's subscribe to both channels. Awesome. Oh, Bob is saying he wants more deals gone bad videos. I did twenty podcasts on deals gone bad and I'm kind of done with talking about bad deals. I don't want to talk about it in the deal so I'm thinking of doing a new podcast series about first deals. I want to start interviewing people to talk to them about their first deal and that should be, I think, probably more fun and entertaining. But I am going to take those twenty bad deal episodes and turn them into maybe a book of and call the book How to Lose Money in Real Estate. And I'm sure it'll sell a million of them. Right. Joe says, thank you, Joe. All right. So get guys go to REI Network, dot com systems area network dot com systems. If you would like to work with us, set up your systems government. You talk about what happens when they gothere and what's the process and how that. Oh, yeah.
Gavin: So you go to that guy's on the click, go to that link, click for the application, you just fill out the application. It's going to take you two, three minutes just to give us a bit of background on you and then we'll get on the phone. It'll be me, all my operations manager, that will get on the phone with you. And then we just look at kind of where you are and what you need.
Gavin: And we'll talk to you about kind of what we do and how it how it's going to work and give you a little insight on the calls. The first thing is I teach everyone individually. So I look, you know, one's the same. Your market virtual where you're at in life, you got a job. You don't time all these things. And then we come up with a game plan. We come up with some goals, game plans, and then we'll start implementing the system. So we'll put them systems in place to fit around you, to give them the best chance of getting results. And that's kind of what we do. And then we have this more coaching, if you need that. But if you don't, then you don't have to have that. And that's kind of it. It's pretty simple. No sales. Yeah.
Joe: Hear some funny Cris Chieko, mutual friend of ours, post something on Facebook. So it's funny. Like you see these people post things on Facebook, like, hey, I'm on clubhouse, go see me here. Write somebody posted what you say, Gavin, what they say they post.
Gavin: They said something like, nobody cares if you've been on stage with that grant Cardone on clubhouse. On clubhouse. Yeah.
Joe: No one cares if you've been on clubhouse. So CrisChiko, who does not have an iPhone, he has an Android and clubhouse is only available on the iPhone, says this just like everybody else is post it looks like he says, hey, if anyone wants to connect with me on clubhouse, hit me up at Chris. Chieko does not have an iPhone and they relied on us and iOS and I need to get work done. Dotcom. CrisChiko does not have. This is all one word with the at sign. Just does not have an iPhone. I can't read it. It's so long. The word is like three hundred.
Gavin: And you saw that. Yeah. And I think he spelled it wrong which is about.
Joe: All right. So I think we're good. I appreciate you all. Give us a thumbs up if you like this video and share it. If you want us to do more like this and subscribe to our channels, go to REInetwork.com/systems if you want to work with us. Appreciate you guys. Thank you, Gavin, so much.
Gavin: Thanks. Thanks, guys. Have a good one. So you guys.