Welcome to another coaching call with a student. This time we’re talking to Taylor Jernigan from Baton Rouge, LA—Taylor’s dog is co-starring.
Taylor wants to learn to automate texting Craigslist and Zillow listings. He’s already in real estate full time and makes $9k to $10k a month wholesaling.
His goal is to make $100k each month. He’s spending about $3,000 a month on marketing… mostly cold calling. The callers average 4 leads a day for wholesaling and lease options.
Taylor is not tracking his leads, offers and deal closings, which I want him to start doing. Taylor is using REI Simple for customer relationship management and loving it… he just needs to do more with it.
Taylor is pulling lists, including absentee owners, for his callers. He tries to give them 5,000 leads a month. Gavin recommends he stagger the hours of callers so evening hours get coverage.
He also recommends that callers switch lists after they get through them. That way the people who had been called in the morning will now get called afternoon and evening.
Gavin thinks the cold callers should get one lead an hour. That would make it more cost effective than it is now. I recommend running the call list nonresponders through automated broadcast texting, too.
Organization is particularly important when using direct mail. If you don’t track responses and get back to responders quickly, you’re missing the boat. REI Simple reminds you to follow up, but that requires first inputting data.
VAs can update scorecards so you know how much marketing is being done, how many offers are made, the cost per lead, etc. You’ve got to have this info to know what results your marketing funds produce.
Communicate with your VAs. Know who they are and let them know who you are. Give them a scorecard to measure their own productivity. Treat them like you’d treat staff in a ‘live’ office.
You can place tracked, personal follow-up calls through REI Simple. It takes more time because each one is individual, but messages can be personalized. You give up quantity for quality, but it’s worth a try.
Listen and learn:
- Watch Joe and Gavin’s Virtual Case Study video about virtual wholesaling… see link below.
- Great, simple bandit sign: “We buy houses regardless of equity” and phone number.
- End text messages with a question because some people will feel compelled to answer it.
- Your business MUST be organized; let technology and VAs do that for you.
Mentioned in this episode:
- Joe’s podcasts on iTunes: Real Estate Investing Mastery Podcast
- Video about virtual wholesaling: VirtualCaseStudy.com
- Proprietary CRM and more: REI Simple
- Hire VAs for general admin: VirtualStaffFinder.com
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