This is the last day of a 5 Days To 5 Leads Challenge via Facebook. It’s something we do once in a while and it’s a lot of fun. On the last day we talk about follow-up.
Most deals come from following up. It usually takes 2 to 3 months and 6 to 7 touches to take a lead from cold to warm. Gavin and I do follow-up role plays as buyer and seller that will be helpful to you.
On your follow-up phone calls, ask a lot of questions to keep the seller talking. At the end of the call, arrange to send the seller an offer and set up a call to review the offer.
Remember that often the no you’ve gotten is based on a specific property you’ve asked about. Call that owner and ask if he has other properties. “Are any vacant? Underperforming? Want to sell?”
Contact realtors and ask if they have properties not yet listed on the MLS. Ask if they’d represent you on an MLS listing. Contact FSBO listings on Craigslist, Go Section 8 and Zillow.
If you want to work with Gavin and me, we’re open to it. This isn’t coaching or mentoring, though some of that is involved. We’re looking for partners that we can share profits with in new markets.
We help you with marketing and implementation. The offer is limited as we can work with only a few people per market. There’s 3 days of training in St. Louis and an investment that you earn back by making deals.
Joe: Welcome. This is The Real Estate Investing Mastery Podcast.
Joe: Hey, Real Estate Investing Mastery nation. What's going on? How are you? I got an exciting episode for you today. I just completed a five leads in five days challenge and the results have been really amazing. It's just fun seeing people get excited about sending marketing and getting some leads and it's really cool. It's a lot of fun. We do this once in a while. We just ended it, it was five days and every morning we released a new video in the Facebook group and showed people some really cool marketing technique and a strategy.
Joe: So what we did on the final day is we talked about follow up. We talked about following up with the leads that these folks had already received and following up with maybe even other wholesalers old leads. This is one of the most important topics that you could, we could talk about and you need to pay attention and listen to this because follow up is king.
Joe: Most of your deals are going to come from the follow up. The deals that we're doing right now, probably 80% of them come from follow up. Not Probably, I can tell you for a fact, at least 80% of them come from follow up. They come after one or two, maybe three months of follow up. They come after five, six, seven touches. So follow up is important. And most wholesalers, nine out of 10, I'm just guessing on that one, do not do any follow up at all.
Joe: So if you want to do more deals, I don't know, maybe follow up with your old leads and if you don't have any old leads, well then find somebody who does and follow up on their leads for them. Split the deals, right. So this was a really good video that I did. You know, you might be listening to the audio of this, but the audio is the most important thing.
Joe: Pay attention to this okay. And there's a few role-plays a couple of role plays that Gavin and I did where I pretended to be the seller or the investor and he pretended to be the buyer or the seller, whatever. And I think there'll be really helpful for you in many ways having, in my courses and stuff I have some live seller calls, but in many ways the role plays are harder and they're more educational because that's just kind of the way it is. But anyway, enjoy this check it out and I think you're going to get a lot out of it. One, let me just put in a plug here real quick. Our next workshop is coming up in a few weeks. We do have these private implementation workshops with clients and there are a lot of fun we get a lot done. We roll up our sleeves, we actually just implement the stuff with you in a small room, 10-15 people.
Joe: So if you're looking to, if you want some more information about that, we're looking to, the reason why we do this is because we're wanting to grow and expand and do more deals in new markets. So if you're interested in the next one that we're doing and you want to work with us one on one as private clients, then go to this website, CoachJoe.net CoachJoe.net. There's a little video there that tells you a little bit more about what we're doing. There's also a, underneath the video is a written description of like what we will be doing for you, what you'll be doing for you it explains, and if you're interested, there's a button there. Tell us a little bit about yourself and we'll get on the phone and see if we are a good fit. All right, CoachJoe.net enjoy this little episode here about the importance of follow up and pay attention to the role play because I think you're going to like it a lot. All right. See you guys.
Joe: All right guys, how you doing? Joe McCall here and I'm with Gavin Timms.
Gavin: Guys how are we doing Joe, are you good?
Joe: Hey, this is exciting. Today's day five day five of this awesome challenge and I'm hoping that you guys are excited as we are about everything that's going on here because today's the money day, today's the money day. Why is that? Because we're going to talk about follow up and here's the cool thing I know about this business. The more leads I have, more follow up I get to do and most 80%-90% of my deals come from the follow up, right? So the more no's you get, now that's good. That's a good thing because that means you're just that much closer to a yes. The more no's you get, the more leads you get to follow up with, right? So it's important as you're going through and you're scraping phone numbers from Craigslist and Zillow and you're sending letters and your talk talking to property managers and realtors, you're keeping all of that information in your Rolodex so that you can follow up with them later.
Joe: I have a little story to tell here and then Gavin's got a story to tell, but like I know a guy who is a wholesaler, but he's kind of a lazy wholesaler and I'm not talking about me. He's kind of a lazy guy like, and he just, when he wants some money, he'll go out there and hustle really hard and then go back into his man cave after he's made some money and then reemerge every couple three months to do some deals alright. So what he does though, he's is a really good Rolodex, couple hundred active wholesalers, investors and property managers and realtors and all that, right? You know what he does? It's really simple. Every couple of months he comes out of his man cave is like, oh, I need some money and he's a little stressed, right? He just gets on the phone and he calls everybody on that list and you ask them two questions. You want to know what it is?
Joe: Number one, hey, I'm looking for deals. I'm looking to buy any deals. Do you have any deals to sell? And then question number two is, do you have any, are you looking to buy any deals? Remember one, do you have any deals to sell or not? And then number two, do you have any deals that you're looking to buy? Are you looking, are you in the market? Are you looking to buy some deals? And guess what happens every single time he goes through that list of a couple hundred, sometimes he doesn't even finish it, but every time he goes to that list, he's going to find somebody that has a deal they want to sell and somebody else that has a deal they want to buy, he puts them together and he wholesales a deal.
Joe: He'll buy one from this guy and sell it to that gut, it happens every time and here's my point. The money is on in the phone, the money's in the phone. It's in the follow up, right? You can go out there and start following up with old leads. We're going to be talking about that in the mind map as soon as we jump in, you can go out there and network with other wholesalers to get their old leads. The money is in the follow up. I want to, I want to stamp that on my, I have a posted note here. I was thinking of some creative, funny way to like, you know, but I don't have time to do that. But get put it on a posted note, follow up and like stick it on your head and put it right there on your lap, on your monitor, whatever. Gavin, when you got started, you didn't have any money for marketing, what did you do to start doing deals?
Gavin: So when I went and decided to network and I went up to a meet up group the first time I'd ever been to one. I was all like dressed up, thought it was all fancy I'm a real estate investor. Stood out if I don't stand out you know for my accent, I rarely stood out. Everyone's, you know, in Phoenix it's hot everyone's in shorts and t-shirts. And there's me like with a shirt and all the rest of it.
Gavin: So, but anyway, we went around the room and everyone introduced yourself and what they're looking for and that was my opportunity to stand up and say, look, I need leads. I can close on the phone I just need some leads. Let's partner on some deals, kind of sat back down, started then a lady locked eyes and say, look, can we, can we talk? Yeah, no problem. Spoke to her after the event we met for coffee the next morning, she brought a spreadsheet of 60 dead leads, dead. The names listed dead leads from three months ago in a Google sheet. And I could see from three months of the marketing the gun out of the calls that come in these like leads are dead but if you want to go through, you know, there might be something in there, but you know, the probably isn't. And so I said, okay, no problem. So all I did was I started to call them and I called about, I got about 40 and then 60, on the phone and we've got two deals from it okay. Because the situation had changed. So when we sit here and say follow up, it's very frustrating as you know, as coaches, mentors, whatever you want to say, that you know, that we are, because we say follow up and no one does it.
Gavin: But everyone in this business that makes money, not one person you know, in real estate doing five plus deals a month, I will say that they all came this month because they are lying to you or they're spending $30,000 a month on direct mail or something or crazy amounts of money and they should be doing, if they're only doing five from this month, they should be doing 15 that month from follow up okay. So it's really important that you do it and there's no excuse. Every single one of them starts with a no. Even in our business right now, the last 58 deals we've done, four came straight away, 54 deals came from follow up of five or five to six touches on average. So important, and we will talk about this and no one does it, but I guarantee if you do it from a month from now, all these leads from this week, even this week following up in a month's time following up, you will do a deal eventually.
Joe: Follow up is important. I mean we should just, we could just end this right now. Okay we're done go do it. No, but we'll teach you a little bit more. You're so let's jump into the mind map. I love hearing Gavin's story because…
Gavin: What made it for me, that's how passionate I am about it because that's what made me get into it and it works. If I don't do it, I'm probably just, I don't know what I'd be doing.
Joe: Yup. So the money is in the follow up. Let me move my camera around here okay. So you see my mind map now, don't forget today 2:00 PM Eastern is our special implementation coaching call. And they'll tell you a little bit about what we're going to cover in there so you can check it out. So today day 2:00 PM today's Friday, we're going to be giving you a special case study of deals that we're doing right now and how we got the deals alright. We're going to help you. Like, you know, now that you're thinking I got all these leads, what do I do with them? We're going to be talking about simple ways to talk to sellers, how to make fast, simple offers. We're going to be talking about system that automation, how you can start thinking bigger and get this done for you in spite of you.
Joe: We're going to talk a little bit about how you can find, hire, and train your own virtual assistance to do it all for you. And we're going to share with you how to get REI Simple because REI Simple is like the biggest piece of the puzzle. If you've got a good system and a database that can manage your leads and handle your marketing and do your follow up for you, nothing falls through the cracks every seller gets followed up with. And so we're going to be talking about really the most of the time on this is some new amazing marketing tactics and strategies that we're doing right now that's worked better than anything we have ever done before. I've been doing deals since 2008 crazy 11 years now. And I've never seen anything like this. You know, the stuff that we teach still works. We're still doing that.
Joe: We're doing some new things, specifically with cold calling. Where we're not doing any of the cold calling. We're working with VA's that do it for us, blows away anything that we've ever looked at before. And we're starting to do some new things now with texting, going above and beyond what we've taught you in this challenge. We're also going to spend some time answering all of your questions, so make sure you get on this webinar coaching call today at 2:00 PM, it's really important. Alright, so today we're going to be talking about follow up, that's the main thing here, excuse me. How many leads do you have right now? I want to just encourage you guys, let us know how it's going for you. Comment in the Facebook group tell us what's going on. Don't beat yourself up if you've not done all the marketing you should be doing yet, but don't give yourself excuses either.
Joe: You can still, you still have time to make up the 10 letters that you should have sent, the texts and the emails that you should have said, you can still do that. I know some guys on the last challenge that we did, they just got it all done like the last day, but even if you just do half of what you were supposed to do, that's awesome. That's quite the accomplishment alright, so don't beat yourself up. We're not here to judge you and condemn you, but like, let's also challenge you to like pick it up, okay, let's go let's do it. Even if it's like, as you're watching this, even if it's over the weekend, all right, still do it it's not too late. It's not too late. So take what, take what we've taught you do more of it. You know, we only said, we said only sent 10 letters.
Joe: A lot of you guys in the comments said, I sent 20 letters that's awesome. So take what we've taught you and do more. And then eventually start thinking bigger. Start thinking, how can I get someone else to do all of this marketing for me in spite of me? You know, you could take right now these videos and give them to a virtual assistant and have the VA start doing that for you. Now one more thing to that, we're going to post this later. Yeah, we want to hear from you, there's a survey link and I'll post this link in the Facebook group again, but we want to know how this challenge went for you and we would really appreciate the feedback. You know, how much marketing did you do? This is all anonymous. We're not going to post, we're not asking for your name anywhere on here. This is all anonymous.
Joe: We want to know what you thought about the challenge. How many leads did you get? What did you like, what did you not like a, what would you recommend doing differently next time? What was your favorite type of marketing and what were some of the biggest challenges that you found going through this and what do you need some help with? So we'd really appreciate your, your feedback with this challenge let us know and the link for that is here in the mind map. I'll also include that link in the Facebook announcements okay. Now, alright, send us a video let us know send us a video testimonial let us know in the Facebook group how it went and we appreciate it. Today's the money day, it's all about the follow up.
Gavin: One more thing, if we get video testimonials guys, anyone that does a video testimonial, I'll get on and do a one to one call with you okay. Because really appreciate it. I know it's uncomfortable to do, but if you come out of your comfort zone, I am willing to do a one to one call now you will be scheduled out for the month or something. I'm not saying I can do it next week, but I will definitely do a one to one call with you.
Joe: I love that, thanks Gavin. Okay, so when we're done here, will you put that, post that as an individual post and mark as an announcement? It's really good. All right, so this is real simple. Nothing fancy here, this is it. This is where the money hits the road. Call 10 people who didn't respond to your texts or emails alright. You should have sent a 10 texts to Craigslist, 10 texts to Zillow and you sent 10 emails to realtors. You probably have 10 in there who didn't respond. Those are some of the best leads. Don't think of those leads as dead. Call them up pick up the phone. Now you have an excuse to call them, right? You can say, Hey, I sent you a text the other day. Did you get it right? So just pick up the phone and call them.
Joe: Here's the crazy thing too. I want to stretch your thinking here. Don't think you have to know a bunch of information about their house before you call them. In fact, I'd encourage you to not to even look at their house, and call them anyway. Because now you have a bunch of questions you can ask them, right? Like for example, let's do a little role play here, Gavin. Is that all right? Yeah, I'll be the investor. Ring, ring.
Joe: Hey Gavin, this is Joe. You probably don't remember, but I sent you a text the other day about your house at 123 Main Street. How you doing?
Gavin: Yeah. Good Joe. Yeah, I do remember I think. Yeah.
Joe: Oh God. It sounds like I caught in the middle of something though. Is this a bad time?
Gavin: I've got a few minutes, now is good.
Joe: Well cool. You know listen, I'm sorry I've been texting and calling a bunch of people. I don't remember everything about your house, your property I know it must have been a nice house if I would've sent you a text. Is it still available?
Gavin: Yeah. Yes it's still available. It's a beautiful house. Yeah your talking about the one on 123 Main Street, right?
Joe: Yeah, I think, I know, I'm sorry, I'm a little embarrassed I don't remember the exact house, but like can you tell me a little bit about it?
Gavin: Yeah. I mean, it's in great shape. You know, I've got the pictures on Zillow, their up to date, we took them probably about four weeks ago.
Joe: Oh, great. What's the address? I'll write that down and look it up right now.
Gavin: Yeah, it's 123 Main Street Savannah.
Joe: Nice. Okay.
Gavin: And yeah, it's a three two, you know, we had it as a rental. We put, we put a bit of work into it and we just want to get rid of it.
Joe: Oh, so you're listing it, it was for sale by owner, right?
Gavin: Yes, that's right.
Joe: Okay. I remember now. And then what was your asking price again?
Joe: $200,000. Okay. And so, you know, I'm an investor in a St. Louis. I know you're, you're far away, so I'm a little familiar with the neighborhood. Is it a nice area?
Gavin: Oh yeah. Great area, great school districts probably the best in Savannah actually. Yeah so I think it's going to sell here.
Joe: Okay, good, good. You know, what kind of shape is it in? Is it in good shape?
Gavin: Yeah, it's in good shape. We just did some paint and carpet and everything else is good. We did a new roof about five years ago, so yeah, it's in great condition.
Joe: Good schools?
Gavin: Yeah had great, great school district, the best in Savannah.
Joe: Cool. So is it a ranch or two story or how many bedrooms and baths again?
Gavin: It's a three two and it's two story.
Joe: Okay. And so you're, you're selling for $200,000, right?
Joe: Is that a good price for this crazy market?
Gavin: Yeah, I think he's a great price. You know, I've seen one down the street, sold for $200,000 about two weeks ago.
Joe: Okay. So is that a nice house too?
Gavin: I think. Yeah. I mean I'm not being in it, but I just seen that it sold. I guess they got $200,000.
Joe: So you were renting it before, right?
Gavin: Yeah. Yeah.
Joe: What if you don't mind me asking, what happened to that tenant? Were you getting good cash flow in it?
Gavin: Yeah, it was good, but I mean we've had it for 10 years, just kind of just over it, you know, we want to start traveling a little bit. I don't want to deal with the hassle anymore. So we just thought, you know, now the market's hot we just thought we'd sell it.
Joe: Yeah. Okay. Were the tenants like hard tenants? Is it hard to find good tenants there?
Gavin: I mean, yeah, it is. It's always hard to find a tenant and you know what it's like no one's paying on time, you know, you're always around trying to fix little things and just kind of over it. It wasn't a massive hassle just rather get rid of it.
Joe: Yeah. I've got some rental properties myself and it is stressful sometimes isn't it? If you're not managing it right or you got tenants that don't care about the house like you do.
Joe: So what were you getting in rent? What was the monthly rent you were getting?
Gavin: We were getting $1,500 a month.
Joe: $1,500 a month. That's pretty good. Is that, is that a good rent for the area?
Gavin: Yeah, I think, I mean, I think we could got a little more if I'm honest, but you know, we kind of just kept it so it always rented real quick. So we might have got $1,600, but we just kept it at $1,500.
Joe: So it's none of my business maybe. But like why, why even sell it? Why don't you just continue renting it? $1,500- $1,600 a month is a good rent.
Gavin: Yeah it is but like I said, we're just, we want to travel more and you know, we want to be, we're going to be out in the area a little more. I just don't want to deal with it.
Joe: Yeah, I get it. Alright, so you have it listed for sale. Have you thought about just listing, I'm not a realtor, by the way, I'm just an investor. You have it for sale by owner. Why don't you just list it with a realtor and probably sell it faster don't what you think.
Gavin: Yeah. Well I just didn't want to pay the commissions, you know, by the time you pay the commissions and done all that (inaudible). So I just thought I just didn't want to pay you know the 6%.
Joe: Yeah I don't like paying realtor commissions either I totally get it. So is the $200,000, is that, is your, is your number negotiable? Is that the low you would go?
Gavin: I mean it's a little bit, I mean, what would you pay? What would you offer me?
Joe: Oh I don't know, seen the house yet. Let me ask you a few more questions. I'd love to make an offer on it. I'm very interested in looking for some more properties in the area. But you know, we buy houses a couple of different ways. If, let me just ask you again, like, you know, if somebody were to come by and give you an offer for something ridiculous, like $125,000, would you take something like that?
Gavin: No. No. Absolutely not. No I don't want any low ball offers, you know, probably the least that do is probably $190,000.
Joe: $190,000 alright. But you're not in a hurry to sell it, right? You just, you just got plenty of time.
Gavin: Yeah, no, I mean, we'll see, yeah, I'm not really in a hurry. I will give it a few, you know, see how it goes over the next month or so and then kind of figure out what we're going to do.
Joe: Okay. So what are you going to do? Let me just ask you another question. What are you going to do if you can't sell the house? Are you going to rent it again?
Gavin: Yeah, I mean hopefully it sells, but I mean I guess if you know I don't want to drop the price, I'm not giving it away. Yeah, I talked to my wife, but I think I probably would probably rent it for one more year and kind of see what the market does. I think it will sell.
Joe: Okay alright. Well, you know, I don't know if I can make this work or not. I'm probably not going to be able to give you a cash offer and buy it for $190,000. You know, I don't know, you might not be interested in this, but what if I could lease it from you as an investment property and buy it in a year or two that wouldn't interest you at all, would it?
Gavin: Hmm. Are you going to be living in it?
Joe: No, it's an investment property.
Gavin: Oh, okay. So how does that, how does that work?
Joe: Well, it's real simple. One of the ways I buy properties is I lease them with a contract to buy them in the future and I put one of my pre-approved tenant buyers in the house, but I stay in the middle. I don't know if this will work. Let me just ask it and then maybe I can send you a proposal and you can look it over. But what if I could be your tenant, I could lease the property from you and then buy the house from you in a couple of years? You don't have to worry about any maintenance, vacancies, repairs I'll take care of all of that, I'll put one of my tenant buyers in there, I'll manage the property, I'll stay involved with the whole process. I don't make, I make my profit from the tenant buyer that I put in the house. What if I could do something like that? Would you be interested in maybe doing business today or probably not?
Gavin: Well I've not heard anything, a lot of that before. But is this something that you can send? I can take a look. I mean, I'm open to anything. I mean, it sounds good, but surely it just can't be that easy, right?
Joe: Well, I mean there's a lot of work involved. I do make, I do make good money on deals like this, but let's do this. I know you're real busy and I got a bunch of houses I'm looking at right now, so, you know, maybe this will work, maybe it won't, but why don't I get some information from you here real quick and I'll send you a proposal it's about 9:40 AM right now my time, 10:40 your time. Well if I sent you something in the next hour, can we talk again later today? Maybe three or four o'clock, what would work better for you?
Gavin: Can we do six?
Joe: Okay. Six o'clock. I could do that. Now. It's none of my business, but do you have a spouse or a partner that needs to be in the, in this conversation?
Gavin: Yeah, I'm definitely going to have to speak to my wife. I'm not going to be able to do anything without, you know, speaking with her first.
Joe: Just to save us both some time. Could we have your wife on the phone at the same time?
Gavin: Yeah, sure. She'll be home. Yeah, we could do that.
Joe: Alright, cool. Let's do this. I'm going to send you just a little proposal, tells you a little bit about my program and let's talk again at six o'clock Eastern.
Gavin: Perfect. Sounds good I appreciate the call.
Joe: Hey, good talking to you Gavin I appreciate it, take care.
Gavin: Absolutely have a good one, Joe. Thanks.
Joe: Alright, so that's a simple role play. That was fun. Yeah. That went a lot better than the one we did yesterday. Gavin and I did a coaching call with our private clients and we did, we did that and I was, I don't know, I had a bad hair day or something.
Gavin: It's good though. You got better though, you know, like I felt more comfortable right from yesterday, yesterday helpless.
Joe: Yeah and that's kind of the point too, is you, the more you practice, the better you get. And even the best of us, and I'm not saying I'm the best, but like you still get butterflies and you still get nervous. You're like, oh no, what are we going to do? Like you get scared. But by practicing, like we just did find a friend or an investor, who understands a little bit or a spouse or maybe your eight year old kid and just practice with them. Pretend like you're the seller or the investor I mean, and they're the seller and just practice what you'd say.
Joe: And here's the thing, just ask questions. How many questions did I ask in that Gavin, do you think?
Gavin: 20, 15 or 20.
Joe: Yeah. Just ask him questions about the house, I'm the investor, okay. Now if he would have had a little bit more equity or not as if he would have had a little more motivation, I would have gone down, you know, what's the lowest you would take and make a cash offer, but it's kind of higher end doesn't need much work so I went the lease purchase route. And notice too, I didn't get much information about the property upfront because I wanted to be able to ask you more questions and that's important. Go ahead.
Gavin: The other reason is, you know, just touching on that is important is because if you start to research it, okay, what happens is, is that you start putting this scenario in your head and you start thinking, oh, there's going to be this and that because the pictures look this way and you have no idea. So then you go in thinking, you know the situation when you don't. So if you don't see anything, it's almost better than to you make a better decision where you go on Zillow and start looking at pictures where they could be three years old, it could be a different house now. So you're thinking cash and now it's a completely different, it was actually a quick funny story.
Gavin: Our team called someone last week and he's like, where have you seen the house? And so he jumped on Zillow and like, Oh, you know, we did a drive by blah blah. And he's like, what color is it? Went on Zillow he's like, oh it's, you know, it's got a bit of green blue anyway. Oh you're looking at Zillow are you. That's three years old, it's a completely different color. And he called us out and then we just kind of, you know, Carey was on the phone just like laughing and he's like, yeah, okay, like look. And it was just funny. So again, you just have to have fun though on the phone. It's not going to go to plan every time. Guys just enjoy it.
Joe: You know, I tried to make fun of myself a little bit too in that call. I said, yeah, I'm a little embarrassed, you know? Yeah. Sometimes, I heard one guy talk about how he always blames it on his assistant. Hey, you know what I'm sorry, I just, my assistant gave me this phone number on the post it note and I'm supposed to call you. I don't even know what, you know, what's going on here. Playing a little dumb in a certain sense where you can start asking questions and that's the key to this. So I think this would be good. Let's do one more role play where we're going to follow up with old leads from another wholesaler.
Joe: So Gavin, you networked with a wholesaler at the local real estate club where you called some people up and he said, hey, do you got any old leads that I could maybe follow up for you and we'll split the deal 50/50. Alright so you be the investor and I'm the homeowner and a, you call me. And you know, this is a lead from six months ago.
Gavin: So I've been network and so I don't say that again…
Joe: You're the investor, I'm the homeowner, but you networked with some other wholesalers and you found a wholesaler that had a lead that was six months old.
Gavin: And I've got his notes. Okay, perfect. Ring, ring.
Gavin: Hey, is this Joe?
Joe: Yes. Yes it is.
Gavin: Hey Joe, this is Gavin. I know we've not spoken before I actually got your address and number from a colleague of mine. You spoke to David about six months, you probably don't remember this or…
Joe: No I don't remember, but how can I help you?
Gavin: Okay, perfect. If you've got a few minutes, is that as a time?
Joe: Yes. Yeah, I got to, I just got a couple I'm walking into a meeting, but yeah, I got a minute or two.
Gavin: Okay. I just need a minute of your time. It looks like you're trying to sell your house on 123 Main Street, a for sale by owner. I just wanted to know if it ended up selling or not.
Joe: Oh, no, it's one of my rental properties. I just put a tenant, I just rented it out a few months ago.
Gavin: Oh, okay. Okay. So it never sold, huh?
Gavin: Okay. Why, why didn't sell? I mean…
Joe: I just decided to you know, take a different direction. I thought I'd rent it out for another year or two and try it again later.
Gavin: Hmm. Okay. Okay.
Joe: It's my old, it's my mother's old house and, you know, just we'd like to sell it, but the, you know, the rental income is nice.
Gavin: Okay. I'm super interested in it. And you wouldn't want to sell it now would you? If I could make you a fair offer, I mean, would you be interested in selling it and you the tenant’s in there now that's fine.
Joe: Well I'd consider any offer, like, you know, the tenants still has eight months left on their lease. But I'm just not going to give it away, you know.
Gavin: Okay. Well, what would you take? Um, do you mind if I could give you a number, but what would you, what's your bottom line?
Joe: Well, we had it listed for $100,000 before.
Gavin: Yeah I saw that.
Joe: Somewhere around there, it'd be good, but the tenant has to stay there. Did we lose internet?
Gavin: Yeah, just resay it, okay, sorry.
Joe: I just said I had a list of $100,000. The tenants are still in there, but if somewhere around $100,000, I might take that.
Gavin: Okay. Okay. So you won't go any less. You wouldn't, you wouldn't take any less than that?
Joe: Oh, I mean, well, I don't know. Make an offer.
Gavin: Well okay, well let me ask you this. Is it a hassle to you all or no? Like this rental?
Joe: Well, you know, I've got, I have three or four of them and they're all kind of a hassle, but that's just the way it is.
Gavin: Any of them vacant?
Joe: No. No. I mean, one of them we're working on right now fixing up and we'll get a tenant in there in a few weeks.
Gavin: Okay. Would you be interested in me renting that one from you for year or two and then buy it. I wouldn't work with it?
Joe: Well, I mean, would you be living in it? What do you mean?
Gavin: No, this, I'm an investor, I'm an investor, Joe. And you know, I can pay cash and we don't always, it's got to work for you, right. I'm not here to low ball you and try and pay, you know, $50,000 for your house that you want a $100,000 for. But if I could get you something closer on the one that you've got available and we work on that, I'd be happy then to take the other three as well when you know when we can work the first one out. So why don't you tell me a little bit about the one that you're doing some work on?
Joe: Oh, well it's in the North side. You know, it's in Dellwood area. And you know, it's a, it's a good rental. We rent it for, rented it out for $750 bucks last time. Yeah, it's a two bedroom, one and a half bath ranch. You know, it's, we bought it for $60,000 you know, seven years ago.
Gavin: Joe, do you have a mortgage on it at all or is it free and clear?
Joe: Oh, I don't know. I don't know if that's relevant for this call is it, I mean…
Gavin: Well, the reason being is, you know, sometimes if you owed, if you put a ton of money in and you know you've borrowed on it and let's say you owe $70,000, it's only worth $60,00 then obviously that's going to be a problem to put the deal together. That's all I was asking.
Joe: Yeah. Well we have a little loan on there.
Gavin: Okay. Okay. Alright, so let me do this. I'm going to put something together that I want to send over to you, okay. I don't want to, you know, to talk too much about it. I'm going to put your little, I call it a little credibility packet, okay and it's going to explain a bit more about what I do. You're going to check that out, okay. And I might be able to do something about owner financing as well. But again, I'll send you that as well.
Gavin: And then can we get back on the phone and talk about it? How does that sound?
Joe: Well sure. I'll take a look at what you send me and you know, then we can maybe talk, sure yeah.
Gavin: This is really important as well, Joe. You know, if this is, if you're not comfortable with it, you can just tell me no, right. You don't have to do anything. You know, we talked to a lot of people. You know, we're looking at deals all the time. Actually seeing a couple that's not far from your house actually. So it's no big deal. But I think that's going to be the best thing. I'm going to send you some information. We'll get back on the phone. How about 10 o'clock tomorrow morning? I know it's getting late here. Does that work?
Joe: Yeah, sure.
Gavin: Okay great. So I'm going to send it tonight you can take a look. We'll get on the phone tomorrow. And just one last thing, are you kind of this decision maker in these deals or do you have a why for anything or partners?
Joe: Yeah we kind of have a family business thing, so I've got some, you know, two or three other guys I have to my brothers that have to look at this with me.
Gavin: Okay. Well if I send that over can you shoot it out to them or you want to give me the email addresses and I can send it to them or…
Joe: I'll send it to them? Yeah.
Gavin: Okay. I mean if that are available for our call I know there’s three or four of them, you probably not going to be able to get them all on the phone call. But if you can get a couple of them on there as well tomorrow morning, that'd be great.
Joe: Okay. Well yeah, just send me what you got.
Gavin: Awesome. Ok well I'll call you at 10 o'clock then, right?
Gavin: Alright, thanks. Cool.
Joe: So, you notice Gavin's just asking questions, you know.
Gavin: In that if Joe would have said, you know why I didn't want to go to this to the lease option, I went there and the owner finance route, because he said it was a two one, it's lower end don't really want to do a lease option. If he would've said three, two and it'd be $120,000 and I want to go straight in for sandwich lease option. And again, we don't know how these are going to play out guys. So that's why I was like, is it free and clear? I could do an owner finance and he said little mortgage, could I give him $10,000 down to pay it off and then make payments over a period of time.
Gavin: So this is what I'm doing when I'm on the phone, but I don't want to keep talk for an hour about it. I want to send information, let him look at it, and then he's going to bring questions to me so I can get it closed.
Joe: One of the things I might have done a little differently as I might have gone a little more down the cash off route like, you know, what's the least you would take on this property? I might've gone, I see how you went, the owner financing, I might've also towards the cash. What's the absolute least you'd take on both of these properties and see if you, you know, if there was any, cause there was, I was trying to convey there was some equity in the property, but anyway that was good.
Gavin: Yeah. One last thing on that I asked more properties. So we went down this one, it's been rented, he's got one, he doesn't want to give it away, but he's got all the ones. So I went, is it vacant? One's vacant. So I went for that. That the fastest way to my deal is the vacant one that he's doing up because he's got more pull and emotion to get rid of that one.
Joe: Yeah. And you know, a lot of times when you're doing this follow up, guys, you're going to find other investors, other buyers that you can add to your buyer's list. You may even find private investors and lenders that can lend on some of your deals. So, you know, just be friendly, ask questions. You know if you're new, tell them, hey listen, I'm a little embarrassed. I'm new to this business. I don't know everything I'm doing yet, but I'm just calling up some old leads here to see if maybe you've got a deal you're trying to sell or you're looking to buy a deal. Let's, can we, can I ask you some questions, right People appreciate the fact that you're calling them you're just being honest. You're not trying to pretend to be somebody you're not. Make sense?
Joe: All right, let's go back to this mind map. We're almost done here. This is going way longer than I anticipated, but I thought those role plays were helpful for you guys. Let us know what you think in the Facebook comments down below. What do you, what would you have said differently? What are some things that we could have done different? Maybe some mistakes that we made, let us know. So follow up, you know, call 10 people that didn't respond to your marketing, follow up with 10 people who did respond and maybe said, yeah, I'm not interested. Call them back a week later. And I can't tell you how many stories I had from students.
Joe: One guy in particular, he texted a lead, didn't respond, finally responds and says, yeah I'm not interested. He actually, after the seller said no by text, he actually called the seller up by phone and said, hey, listen, listen I know you said no, but I love this area I really do like this property. I'm looking for more homes in the area. Do you have anything in the area maybe? Turns out this guy who said no said, well, yeah, you know what I got five other properties. And he went and got five deals from that seller who said no, because he followed up even after he said no. So I'm telling you again, follow up with the yes's, the no's and the maybes.
Gavin: Yeah. And never assume that they're going to tell you that they've got all the properties. It doesn't, it might seem so, oh yeah, do you want to buy it? No I don't want to sell it. And then you did, imagine they go but I've got other ones I want to sell. That doesn't always happen guys. You have to ask the question.
Joe: Yup, Yup. Okay. So some of you don't even have five lead yet, maybe. So what do you do? You've done the marketing. Maybe, maybe the letters haven't hit yet. Maybe you know you've only sent 10 texts to Craigslist, 10 to Zillow, 10 emails. You've not gotten leads yet. So here's what you do. It's real simple, pickup the phone and start calling people until you get five leads. One thing you could do, you could start calling property managers. Hey, do you have any clients who want to sell their property?
Joe: You could go online and look at the, you know, there's certain areas of each community where there's more wholesaling activity, right? So get on the, get a friend to get, get on the MLS and find out who were the listing agents and the buyers agents that are doing deals in those communities. In St. Louis we've got like Florissant for example, or maybe a Hazelwood and I could go on the MLS and I could go see who are the buyers agents of properties that have sold, who are the listing agents and just call them up.
Joe: Say, Hey, I'm an investor do you have any deals that aren't on the MLS yet that are off market deals that I can make an offer on? And you if you bring me a deal, you may not have anything now, but you know, can I, can I send you my information? So if you find something later on you can send it to me and I'll let you represent me and get both sides of the commissions. And a lot of you are asking, well how does that work? You just tell the real truth, listen, if you bring me a deal, I'll let you represent me so you can represent me as the buyer and you can represent the seller as the seller's agent, whatever, and get both sides of the commission. Look at it from the realtor's perspective. Make it attractive and interesting for them. Make sense?
Joe: So you have no excuse. Even if you've done all the marketing and you don't have five leads yet, pick up the phone and start calling other wholesalers, investors, property managers, realtors, maybe just go to Craigslist and start calling the landlords. Go to GoSectionEight.com. Start calling the landlords on Go Section Eight, start calling Zillow fizbos. You don't have an excuse. Um, the goal is to talk to five sellers a day. That's how you do it alright.
Joe: So a lot of people are asking us, listen, Joe, Gavin, how can I work with you guys? How can I work closely with, this is cool, but maybe I'm a little overwhelmed. I need some help. I don't know where to start. Real quick. I want to tell you guys something. We want to do more deals. We're doing about five to 10 deals a month right now with one of our students in one market down in Alabama, and we want to grow.
Joe: We were looking to expand into new markets. This is not about coaching and mentoring. One of the big reasons why we're doing this challenge is so that we can find people who are actually starting to take action, starting to take some initiative and do some marketing, getting some leads they just want some help. So we want, we're looking to expand into new markets. This isn't coaching or mentoring really. I mean we do some coaching and mentoring, but it's not about that. We're looking for several select partners we can personally work with one-on-one to open new markets and launch completely new wholesaling and or lease option businesses from scratch. So if you're interested, pay attention. We're going to talk about this here a little bit.
New Speaker: You have two choices right now, guys. You can take what we've just talked about and do it all yourself, which is awesome or You can continue with what you've learned today and this last week and work directly closely with us where we can help you and we can actually implement with you everything we've just talked about alright. Now who is this not for? If you're lazy, you don't like to put in the effort or work, obviously it's not for you. If you're broke and you don't have any money, you got to invest something in marketing, then this might not be for you This isn't for you if you're like wanting to get rich quick, if you need to make a paycheck next week, you know, this may not be for you. This isn't a get rich scheme. We've all been taken advantage of by that huckster guru that promises a click a few buttons and you make money and it falls from the sky and it's easy and push button automated and all of that.
Joe: We've all fallen, well maybe most of us, I have, I've fallen to prey to some of those scam artists that make it sound way too easy. So if you're into get rich quick stuff, then, you know, go ahead and let's just check out, this isn't for you. The people that we, I mean the numbers that we share are real, and we're going to be talking about some of those numbers on today's coaching call. The numbers that we share with our clients, they're real, but we're by no means promising that this is going to work for everybody. In fact, it really only works for a small percentage of people. Most people who buy education products or coaching don't make any money with it. That's just the facts. But what we're doing now is different. We're trying to make it where like we're going to partner with folks and do deals with folks.
Joe: We're going to help set up their systems, set up their marketing with them so that they can actually go out there. And if we do, if they do what we teach them and what we implement for them, they can actually make money. So this is limited because of our time. The number of individuals that we can work with in each market is extremely limited. Some markets are exclusive, we only work with one client. It's strictly on a first come, first serve basis. So this is limited. And we do little workshops, implementation workshops every month and they fill up, we only take about 10 to 12 people or businesses in them. So it is limited in the number of people that we can work with. So what would you be getting? There's a website you can go get more information if you want to check it out.
Joe: It's CoachJoe.net and there's a little video here of me and Gavin talking about it. And what we're looking for, what we will provide for you right here, what you will be doing under our guidance and supervision. Some of the requirements there is an investment required that you get back when we do two deals together. So you get that back over the first two deals we get together and that investment is for the marketing and the systems and stuff like that. And we want to make sure that you're serious about this too. So this is about how to apply and you can go to this link right here to let us know more information about you. Now we're doing, some of you might've seen our last Facebook live where we did a workshop just this week Gavin.
Gavin: Yeah, it was this week.
Joe: It was this week. With some entrepreneurs and that we're working with and it was a lot of fun. We're doing our next one, April 8th and 9th. It's a small conference room. We actually will set up with you all your systems, set up, all your marketing, get you the virtual assistants. And then in the workshop we actually talked about how to use all this stuff, what to do with the leads as they come in, how to talk to sellers, how to make offers, how the contracts work. That's really awesome. I love these workshops. Our next one is April 8th and 9th. So if you're interested, you're going to come out here to St. Louis. I promise you it won't be as cold as it was…
Gavin: The last the last two times.
Joe: The last two times it must've been like 10 degrees it was crazy. April will be warmer. I promise it might be a little rainy. So let's get on the phone to see if you're a good fit. You can go to CoachJoe.net, which takes you to this page right here. And just to let you know a little bit more about us and then you can go straight to the Podio application here where you can actually just tell us a little bit about yourself. We'll get on the phone, see if you're a good fit, see if we're a good fit for you and go from there. Cool.
Joe: So if you want to work with this, check it out. No hype, no pressure, just, we're just pretty two laid back chill guys. We're not going to a high pressure you into anything. We just want to do more deals that's it, okay. Well this has been fun. Hey, listen again, today at 2:00 o'clock Eastern, which is in a few hours going to be doing our special implementation coaching call where we're going to be answering your questions and showing you some cool things. Can't wait to see you on there. And thanks Gavin.
Gavin: Thanks Joe. Thanks guys. It's been a great week. Appreciate you all.
Joe: Cheers. See you. Bye. Bye.