So far in our New Market Challenge, we’ve talked about how we choose our markets, how we put together our marketing strategies, how we make offers, and how we talk to sellers. Day five of our challenge is all about finding buyers for your deals. There are different ways to do it depending on whether you’re flipping houses or land. The goal is to make sure that your numbers are good. If they’re wrong, you’ll learn that from the buyer. If you’re well networked and understand where and what your buyers are buying, you’re going to have an easier time.
Buyers come and go, and you need to be networking all the time. Some of the most important folks to get in front of are cash buyers, realtors, property managers, and wholesalers. Gavin and I show you some examples of how we gather intel with the right tools. One of the most fundamental tips is that you’ve got to answer the phone. If you like money, you’ll need to pick up those calls because you never know who’s on the other end. You also always need to be marketing for buyers, whether that’s direct mail, a cold calling campaign, or something else that works for you. Gavin and I also walk through some examples of how to have conversations with buyers once you’ve targeted them.
Watch and Learn:
Listen and learn:
- Who to network with to find buyers.
- Why you need to answer your phone.
- How to talk to buyers and what to ask them.
Mentioned in this episode:
Download episode transcript in PDF format here…
Joe: Welcome to the New Market Challenge. Day number five. What? Day number five!
Gavin: How are we doing?
Joe: I’m tired, but it was good. Really good. I hope you guys are doing well. Listen, I’m going to open up our Facebook group. What good news for you? What is it, Gavin? What’s our good news for them?
Gavin: Well, good news is VIP may be back.
Joe: Yes, the VIP may be back for just a day or something. Here’s the deal. A lot of you guys, I’m trying to find our video here so I can add it to the announcements featured section in our Facebook group. But a lot of you guys have been like, Hey, listen, I missed the deadline. I couldn’t sign up for the VIP recordings or the extra coaching calls. So what’s going on? Today is day five of the New market Challenge, where Gavin is going into a new housing market and I’m going into a new land market. I’m flipping vacant land deals in Park County, Colorado, which is a very competitive county. And Gavin is doing some houses in Baton Rouge, Louisiana. And this is the end of the first week or but we’re going to be posting updates in the Facebook group for the next three weeks. So this is a 30 day challenge. We’re going live every day just for the first week. But again, for the next three weeks, we’re going to be posting updates a couple of times a week in the private Facebook group. If you want to know where that is, go to New market challenge dot com and sign up for that, New market challenge dot com and you can get into the Facebook group and see the updates. And we decided to open up VIP just again for a few more days because people are wanting to get the recordings to these because we’re going to be removing these recordings on Sunday night from the private Facebook group or tonight, I think Sunday night, maybe we’re going to be removing all of these daily live videos. So if you want a lifetime access to the recordings of these first week videos, go to New market VIP dot com Newmarket VIP dot com. You also get extra coaching calls while you get we did 30 minute Q&A calls after this. We do two coaching calls a week for the next three weeks. So in addition to us updating in the Facebook group, we’re going to be doing extra calls. Gavin’s doing a coaching call a week and I’m doing one a week for the next three weeks. Just updating you on our progress and going into more detail and answering questions that you guys might have. We’re going to give you lifetime access to the recordings. You get our contracts and marketing documents package. You get our software that helps you make multiple offers. You get some tutorial videos that we created to help you get started. And we’re going to let you have a free strategy session with our coach, Andy, which is really, really good. And we’re going to refund you your money if we don’t get a deal under contract in 30 days. So if you want more information on becoming a VIP, go to New market VIP dot com. Cool. And again, if you want to get into the Facebook group because this is our last day we go live. If you want to see our updates as we go through the rest of the month, go to New market challenge dot com and join our Facebook group in there. Cool. All right. Today, we’re going to be talking about finding buyers for your deals. Finding buyers for deals that we’ve talked about over the last few days. You know, how to how we picture our new markets, the marketing that we’re doing, how we make offers, how we talk to sellers. And we’re going to be talking about how do you sell the deals? How do you flip them? And it’s different for houses and for land. But Gavin is going to be talking about houses now. All right. We get a deal under contract. How do we find buyers for it? And sometimes, you know, Gavin, people think it’s scarcity mindset. Again, it’s like nannies. It’s hard to find deals, but once it becomes easy to find deals, then it’s hard to find buyers, right? One thing I’ve learned doing deals for a long, long time, it’s like if if you have a good deal, it is easy to find a buyer, isn’t it?
Gavin: Absolutely. And especially depends where where it is. But if it’s in a market of where there’s activity, where you know, you’ve probably picked, then you should be able to find a buyer even in this market if it’s a deal. So the goal is, is to to to make sure that your numbers are good and you’re only going to know that it’s worrying if you got it wrong, you’re going to learn that from the buyer. Now, obviously, from a confidence standpoint, if you have buyers first and you understand where they’re buying, what they’re buying, you have five, ten of them, 15. You’ve got networked with realtors. It’s still going to be it’s still going to be easier, more convenient for you to be on the phone to do that. I just got distracted, too. Joe, obviously you’ve seen the thing about.
Joe: Yeah, I was saying that New Market VIP is closed right now, but we’re working on it. It’ll be updated in just a minute here.
Gavin: Yeah, they could also be the cash thing as well, I think if you’ve already done it before with anything. So yeah. With the buyers it’s definitely if you if you got a deal. We talked about what a deal was kind of yesterday when we looked at the offers. You will be able to find that and there’s different ways around it. You want me to go into houses first, Joe? So there’s different ways and tools that we can use to go and find buyers. But I will say this it doesn’t matter where you are in your journey. Okay, buyers come and go and you need to be networking all the time. Guys who are seasoned, I think. Have you been in the business 17 years or you’ve been in one day? Okay. You always need to network for buyers. And buyers come in different ways and there’s always that I would say that they comment okay for you to focus on. Number one is cash buyers direct to cash buy it. So where you actually go and look at properties like we did when we did market research, we find where the activity is happening. We look at them. As we can get some buyers, we can call them, we can send messages, we can do our email to them if we want to buy more properties in that area. So you can go direct to cash buyer. Number two is realtors. Realtors are a great resource. Now, when you are contacting relatives, you want to find out if they’re investor friendly and are they working with any cash buyers right now that are looking for more deals? The good thing is that realtors, one realtor might have ten cash buyers, so one connection may have just opened up ten cash buyers for you. Now they’re not going to hand over that list. You’re going to have to go through the realtor and give them a call of the deal, which is fine if you can get they can get it moved for you. Right. But they will pull that and move the deal. So relatives are really, really good results. Number three is property managers. Property managers, what do they do? They manage properties for investors. Okay. So do you think that if they have $200 and they have 45 investors that they work with that one of them, 45, may want to buy more properties. Of course they will. Okay. And I was a little flip side to that. They will also have investors that want to sell more properties probably. So there’s a good chance if you can build that relationship with the property manager, you will get them on the buy and sell side. Same with the realtor as well. Okay. And then number four would be networking with all the wholesalers. Well, those are wholesalers that are in the business. They already have buyers. They already know. Like for me in Birmingham, Alabama, if someone brings me a deal and I can’t move it, I’m very confident that if I can’t move it, no one’s going to move it. Because we have I have the network where I believe I have the best buyers. Right. I’m we’re continuing to try and build that. But if we can’t move it, it’s just not going to be a deal. Okay. So networking with other wholesalers, doing joint ventures with them, which is what we when we say JV, it’s a joint venture when we can be moving them that way. So they be the full ways and the full fastest ways of you. Building a buyers list would be realtors, property managers, straight cash buyers and wholesalers. And once we’ve done that and you’ve built that, then the deals are much easier to move because now you are not stressing out about, Oh, I need to find a buyer, I need to do this. You can go direct to the buyers that you’ve got relationships with and then find out if they want to buy your property. Now, if they don’t want to buy this is this is a write down on it’s very simple. If they don’t want to buy the property, you have to ask why? Why do they not want to buy the property? And when you get this this when you ask three different buyers and they’re all saying the same thing, then you know what you need to do next. Okay. So if the buyer says, no, I’m not interested. Well, why? Because the price is too high. Okay, what would you pay if I could get it lower? I’m not saying I can, but if I could, what would you like? And let’s say you’re offering 68 and he says, I’ll take it for 50. Okay, cool. And then the next buyer says, Too high. What would you I’d pay 51. So on, so on. Basically then you know, the benchmark where you need to go. So you’ve looked it up at 50, you try to sell it 60,000. The buyers want to pay 50 and you’re in a 50. So now you know that you’ve got to renegotiate that under 50 and whatever you go under is going to be your fee and that’s how you’re going to move deals. And this is this is the mistake that new wholesalers make. They go all the price is too high. I am a seller. We know we can’t do that. Can I take another 5000 off? But yeah, no problem. We can do that. And then you go back to the buyer and they say, Hey buyer, we can move 55 to 60. And you never asked him what he buy. And he’s like, Well, it’s still too low. It’s still too high, sorry. And then they still won’t do the deal. So you’ve got to make sure, you know, you have literally have one chance, maybe two if you’re really good, but one chance to renegotiate with a seller. You cannot keep revisiting the seller to renegotiate because they’re going to be like this guy or gal doesn’t know what to do. When they get frustrated, you’re going to lose the deal. You got one chance, so make sure you’re prepared. You know what number you’ll get. You need to be at price anchor under it, okay. Using your sales skills to then obviously renegotiate this deal. And that’s what I would do.
Joe: Yeah. Let me show you some examples. Can we do that? What Gavin is talking about. Can you hear me, Gavin? Yes. Let’s show you some examples of what we’re talking about. By the way, the New market VIP is up. New market VIP dot.com is working. Now, you may need to refresh your screen, but it’s there. All right. Let me close a few things here on my windows. Okay. So we’re looking here at. What are we looking at, Richard? So let’s say going back here to freedom, you know, let’s say Gavin has a deal and 70810. By the way, updating on where we’re at. We talked. We should have done this first thing. Gavin, I’m sorry. How many about how many leads you guys have right now? And where are you at with, do you have one that’s close? What’s going on?
Gavin: Yeah. So we have right now we did not, no panic though. We did not get any leads yesterday for cold calling. But again, we’re taking averages. So we had four we had 12 leads at three days. Day four, we didn’t get any leads, which is common because we’re taking averages. Okay. So we’re going to be calling again tonight. We have 12 cold call leads. We have two text messages, leads coming in, but we’re only, I think, 750 text messages total so far out of the whole the 3000. And then the email is still no, it will hit next week. And I know a lot of you are kind of excited to see what that looks like because we are as well, especially with a new letter. And here it is. If you see my screen, I seem to be carrying it around with me. So we have that and then we have two out for one out for contract. But it’s an older gentleman, so it’s been hand-delivered to him, but it’s not in yet. So we don’t have that contract in, but we all get in. We feel close on that one and we have another potential that we’re getting close on negotiation with as well. But nothing signed as yet.
Joe: One of our coaching clients, we’ve been working with Nathan for a long, long time out of Nashville. He’s excited to send out those letters that you’re talking about. Gavin He already had the call with his direct mail coach, and you said one of their guys got seven deals close with 800 pieces in that market. Now, we’re not promising anything about that. He might have been like one seller had seven properties. No, no. And they have only run that campaign once in Nathan’s market. So the key to it all is when you’re doing direct mail is consistency. Consistency, right. You’ve need to be committed to a market for at least 3 to 6 months of hitting them multiple times. Okay. And especially with direct mail, it’s just emphasize this. When a seller calls a lead on direct mail for houses, specifically, land is different. You need to answer the phones, either you or a virtual assistant or an answering service. You’ve got to answer the phones live. You’re spending a dollar per letter sometimes, right? Those leads are really, really valuable. What happens when that call goes to voicemail and then you try to call them back? They don’t recognize the number. They send it to voicemail. It’s just you’re going to get so frustrated, you’re going to lose so many deals because it’s going to phone tag and you’re going to talk to sellers. When you answer, the phones are going to be like, My gosh, you’re the only one who answers the phone. I was reading an article the other day, Sam, there was in Cincinnati, Ohio, a newspaper reporter or one of the local news reporters wanted to do an exposé on these illegal, immoral and fattening wholesalers that are doing all of these these evil, wicked marketing schemes like, oh, my gosh, sending letters and postcards. And so there were people were complaining about getting all of this mail right, like they don’t complain or do exposes on Domino’s Pizza, who’s sending out all this direct mail. But anyway, don’t get me started so that this reporter gathered from these different people, all of these postcards and letters that these homeowners have been getting in the mail. And she went through and started calling every one of them. I don’t know how many she called, 15 or something like that. She called a lot of different phone numbers. Guess how many people answered their phones?
Joe: One. One person did, and it was Vena Jones-Cox, who actually runs one of the largest real estate investment associations, RIAs, in the country. Vena sent out a postcard. She understands the importance of this, answered her phones live. I taught a subject to class with her about a year ago. I should we should do it again, she answered the phone, had a great conversation with this reporter, explained what it is that we investors do and all that. And the news story was actually pretty positive because Vena was smart enough to talk to the reporter about, you know, we revitalize communities. We buy cheap, rundown homes that nobody else wants and we fix them up and we resell them. We help with building. We know we help create jobs. We help revitalize communities. We bring back people that are fleeing the city back into the city. So it was really, really positive article. I get like 15 different phone numbers. Only one answer the call. So I hope I don’t know how bad do you want these do.
Gavin: I don’t know if you remember Joe we did a live album a year or two ago and I called. We were calling relatives live and I called I think 17 realtors to get someone to answer and it’s just insane. And that was my opening. My line was literally like, Thank you so much, friends and your phone. And she was like, I was like 17 people, nearly everyone that’s out. So that was. Literally my whole building was in and she’s of course, you got to an orphanage if you want to make money in this business. We had an instant connection of building that rapport. That is so true. You got to answer your phone. And the thing is, and I talk of this a lot about this, people don’t want to answer numbers. Right. I get it that you don’t know. And if you’re doing direct mail or you’re in this business and you’re not answering your phone and you’re doing like direct mail, it is. It’s ludicrous. It’s crazy. You are crazy, right? Because you got to answer your phone because just because we’re mailing it could be an out-of-state owner. It could be you know, Joe is in Saint Louis originally from California. He might have a California number, but lives in Saint Louis and never changed his name. But there’s so many things. You can’t just get hooked on the area code because you don’t know it. You’ve got to answer the phone. Super, super important.
Joe: Yeah, of course. Vena she’s. She’s funny. I’m good friends with her super smart lady, one of the smartest investors I know. And she’s she’s talking to everybody about that. And this probably the one time she actually did answer the phone. Now, I’m just kidding. But yeah, I mean, I don’t know. Unless you hate money, don’t answer the phone. Every local wholesaler I know in the Saint Louis market that is doing deals answers their phones. So it’s like, okay, I like money. I don’t worship money, right? But I like money. And so I might as well answer the phones when somebody calls. This is same with buyers. We’re talking about buyers in this thing, right? Like you would be shocked how many out-of-state buyers are looking for deals in your market in Minneapolis or Indianapolis or Des Moines, Iowa, whatever. Right. And they’re looking for properties and they’re calling local investors, you know, how many people don’t even answer their phones? And we’ve had there was a period of time when we focus just on finding the buyers. This goes back to what Gavin was saying earlier. It’s important to always be marketing for buyers. And we sent out letters to investors that were buying homes in other markets from outside of those states. So we went and sent, you know, a thousand letters to all the investors who had bought a property in Memphis, Tennessee, from outside of Tennessee in the last six months. Right. There’s a lot of them. And we sent them a letter saying, hey, listen, we see that you’ve just bought a property in Memphis. Have you thought about Saint Louis? We’re the premiere real estate investing company in Saint Louis. And we’ve got some amazing deals here. And if you’d like to talk to us or see what we’ve got, give us a call. And that phone number was a virtual number from Freedom Soft or something like that at the time. Might have been both, but it redirected to my guys cell phone number. And the reason I hired this guy, his name is Rick. He’s doing an average of 90 to 100 deals a year still today, and it’s been probably seven years. He answers his phone. That’s why I hired the guy. He called me, left a message, and I called him back to test it. Sure enough, he answered his phone and I knew immediately on that first call, this is a guy that I want to work with because he answers this phone and that’s why he does 90 to 100 deals a year. And still, these buyers would tell us, you won’t believe you’re the only ones who answer their phones. That’s why I’m willing to pay you more for your deals, because I know I can reach you. I know what I’m trying to call somebody in Saint Louis. You’re not going to go look at the house for me or fix the things for me, but I can at least talk to somebody and you can help me find somebody to go. So we would give these buyers three different contractors, three different property management companies, and we sold our deals. We had other wholesalers bringing us deals because we had so many good buyers and Rick could sell them. And that’s all he’s been doing for seven years. He finds the buyers first and other wholesalers and investors bring him their deals and he sells them to his buyers because he answers his phone. It’s like people skills 101.
Gavin: Yeah, you’re right Joe. When I was in Phoenix, I was dominating. And just because of that and people thought I was great. I just did the basics. Well, that was it. Communicate on my phone and that was it. People want communication on the buy side. The seller’s side is all communication. If you’re communicating, no one’s worried. When you don’t communicate, everyone then starts thinking, What’s happening? Something’s wrong. And then they start second guessing, calling all the people because you’re not on top of it. You just got to communicate. Literally, I would call, even if I was in the middle of something, I’d answer and say, Hey, Joe is calling me. Hey, John, I can’t talk to you right now. I’m finishing this. I’ll get back to you that instant. 5 seconds. Oh, perfect. Thanks. That just communication. And then I’ll get back to him when he’s not blowng me off and saying why are you not answering and I can’t get a hold of him. It’s just little things and easy to do that just sets you apart from everyone else. And it is the basic things, right? We did a book, Joe, brilliant at the basics, right? It’s just doing basic things well. And if you do, you can really you can really step out and buy yourself from everybody else, all wholesalers.
Joe: And then when was the last time you answered a phone call from an unknown number? When was the last time you did that?
Gavin: I mean, for me, I answer spam answer and I love it.
Joe: Why not? So my point my point is most people don’t.
Gavin: Correct. Yeah.
Joe: So when you get a call, when you’re doing marketing and you get a call like you better answer that phone because it’s going to be super hard for you to get a hold of that seller when you call them back. It’s going to be really, really difficult.
Gavin: And so I just want to say as well, I have rental properties, right? So I get calls about buying this house in this house, but I actually use it as like, oh, I wonder how good they are on the phone. So I like sometimes if I can engage but not a thing. So I’m not sure if I want to sell and I’ll play along because I want to see how good they are. Did they push me? And then there’s some bad ones out there. I’m like, Now don’t I think I’m interested in that. Okay, thanks. Bye. I’m like, you didn’t even attempt to.
Joe: Yeah, there’s so many bad.
Gavin: Yeah, so many.
Joe: We can complain and rant and rave about this all day, right? Because like bandit signs, you know, we used to go see a bad sign. I’ll bet you $100. And you call that? Nobody is going to answer. Yeah, $100 right now. Agreed. I’ll bet you hundred anyway. So obviously got to answer the phones. So we’re talking about buyers, right? So I wanted to show you just a few things. Somebody had a question about freedom. Stop real quick. This freedom. Stop giving you the ability to forward from a specific number. So your phone shows it as a lead. Yes. So when you buy a virtual number and freedom stuff, you can set up what’s called call automation and you can set it up where it goes to a certain phone number. And then if they don’t answer, it goes to another number. If they don’t answer, it goes to another number. They also have an app for your iPhone or Android for Freedom Soft where you could answer the phones directly from the app or going forward to a cell phone. All right. So and it does keep track of that number. It creates a new lead inside of freedom. So anyway.
Gavin: I’ll just say on the on the caller ID as well, you can show the seller’s number or you can do it to your direct mail number, which is what we chose. So when it comes into Chris, he’ll say direct mail. So he knows he’s got to answer it. Yeah.
Joe: Don’t be afraid of the phone, guys. It’s not a cactus. And if you get anything out of this whole week, if you want to do more deals, get on the phone. If you’re not on the phone, you’re not making money. You’re not on the phone. You hate money. And that’s one of the last things you should outsource. It’s always one of the first things people want to outsource because they don’t like talking on the phone. And I get it. I don’t either. That’s why I like doing land, because I want sellers to call to get a voicemail and then I’ll send them an offer. But listen, if I would do more deals if I answered the phone when seller’s call even after the. I knew a friend in Atlanta who would send a postcard saying 24 hour recorded voice mail. What still would answer it? And he said he never had anybody complain about it, but he did that because he knew it would get more calls and he knew the power of answering calls live. All right. So I wanted to show you this here. Let’s say Gavin got a deal in Baton Rouge in one of these zip codes. 708 ten. You can go right here and you can search last 90 days. Click find buyers. And when you do that, it’ll bring up active buyers. There they are. There’s 125 of them. You can add all of them to a list. I’m going to create a new list here. Baton Rouge buyers or whatever that zip code was, right? Seven, eight, ten. It’s uploading that into the list right now. If I go to leads my pipeline lists there, there are 115 of them. All right. Now, some of these are LLC and some of them are not. I can select all of them right here. So the more actions skip trace, drag their full name here, and it won’t charge you for it won’t charge you for skip traces that it can’t find anything for because it’s an LLC or whatnot. Okay. All right. There have been added to Skip Trace. I clicked this little doohickey up here. I click and they make sure these are all what I want. Okay. Skip Trace all 84 leads. It also includes a do not call flag and a known litigator flag. So you’re not going to call anybody. Now, by the way, this is important when you’re doing when you’re calling buyers, do not voice blasts or text blast buyers. When you call them, especially buyers, it’s really important that I suggest strongly that it’s one at a time. So if they answer you talk to them right then and there, you’re not having a VA do it. You’re calling them. When they answer the phones, you talk to them. And if these are good buyers, they’re going to answer their phones. All right. Complete 64 leads of the 120 or whatever. Our complete case, I’m going to go back here to my pipeline list. So demo right here. I’m going to do all of my leads. I’m going to highlight all of them right now. Some of them are LLC is like this one doesn’t have any phone numbers. Right. But the rest of them do. And I’m gonna go right here two more actions and I’m going to do new click to call dialer. This is an outbound dialer, but it only does one at a time. All right. And I can choose the name. Baton Rouge from a campaign. Now, I’m gonna choose a different campaign because I didn’t set one up. But let’s just choose. For example, this I click next. So I’m sending it from a campaign that has a phone number associated with it. Now, normally I would get a new phone number from Baton Rouge with an area of Baton Rouge area code, and I would select that from the campaign. Right. I would choose the recipients. I want to call all of them. I remove duplicates, remove DNC and remove known litigators. Okay. Some people do this, some people don’t. But we’re just going to tell you. Okay, that’s all I’ll say about that. And then you click on message, you click on send a follow up message. So I might send them a text saying, hi, first name. Yes, I left you a voicemail and I put my name, something like that. And you can you can do what’s called spin text if you want and say what that does is it just says hey name and you can change the word hide to you. Create a spin text. Hey, hello. But it just changes the text. I’m only sending this one at a time. So if I call them one at a time and I get a voicemail, I’ll click another button. It sends it to Texas, what it does. Okay. Now, I’m not going to include opt out text because I’m doing these one at a time, right click complete. Now I go into my dialer, here we go. And so even though I removed Gavin, the do not call and known litigators, you always remove known litigators. But I also removed Do not call. I still have 166 phone numbers. Now, some people again, don’t remove do not calls because they don’t need to. Now I see something here. It’s not putting in the name. So I did something wrong. Normally it would say hello Jatinder. So I did something wrong, but the name would be right there. Okay? And then all you do is you click call right here. And how would that conversation go? Well, let’s say Jatinder answer the phones and I say, hey, is this Jatinder says, Yeah, I can click on his name. It opens up his lead and I can see the properties that he bought just recently. He bought this one a couple of months ago and I can say, Hey Jatinder, my name is Joe, I’m an investor and I see that you just bought a property real close to mine. 1541 Rose Glen, is that right? I’m an idiot. I got a really good deal just a down the street from yours. I’m wondering, are you looking for more? That’s it. And then after he says yes, no buzz off, you can. If it’s a wrong number, you click on this. And you can add them to your do not call list or you can change the status right here. And if you’ve got a voicemail, you click send us a message. So when it comes to buyers, I really recommend you do. Let’s look. Another example here, Alvin. You can see the part of the property he just bought. This is his mailing address. He lives in Louisiana, Lake Charles. The property he bought, though, is on Lexington Lake here. So this looks like a nicer home. You can look at satellite. It’s a bigger property next to a lake or something. Anyway, does that make sense? Gavin, any questions about that, everybody?
Gavin: No, that’s good. That’s good.
Joe: I like doing one offs because then when they answer the phone, it’s got a better connection and there’s an immediate connection. So it’s better quality and there’s not this really weird one or 2/2 pause, which feels like an eternity before you respond back to them.
Gavin: And we also as well, we don’t put it in the dialer either. So just to reiterate that we don’t we don’t use our dialers, these clients, these relationships, these little long terms like sellers come and go, they’re in and out, but you buy as you could do 100 deals with. So you’ve got to definitely spend more time and build that rapport with them.
Joe: All right. Very good. All right. So the other thing I was wondering is showing your gear quick was, let’s say Gavin, but has a property under contract in 708 ten. That was that top zip code you’re looking at, right? 708 ten. One of the first things that we like to do is go into Zillow and look in that zip code, go to solds. We’re looking at houses and anything I hear. So the more I picked smaller houses because I didn’t want there’s some big houses in this area that are really big, but the property that say we got under contract is 1200 square feet. You could change it to 2000 square feet or whatever sold in the last six months. So these are properties that sold in the last six months. If you have too many of them or if it’s too big like this 318, maybe you could say, you know, you could say under 500,000 or whatever. All right. So what I’m looking for when I go through this are properties that look like they’ve been recently rehabbed. And if I just found one a minute ago, as I was playing with this while Gavin was talking, I hope I can find it again. Oh, no, I know. Never mind. I know what I did wrong. I was looking at Redfin. Let me show you Redfin in a minute. So you just go through these these properties. This looks like it might have been rehabbed recently, if it looks like it’s been staged. This looks kind of like it does doesn’t look like it’s being lived in now. Maybe it does. There’s some books you’re looking for, like empty closets. This, this. There’s no towels on the towel rack, so that’s good. All right. This one this one looks lived in. So this isn’t a recent rehab, I would say, right? You’re looking for a reason. Rehabs. Why? Because that was an investor who bought that house and just fixed it up. Let me backtrack a little bit. While I’m in Zillow, I first look at the four rents. I’m first going to go in here. I’m going to look at all of the rental properties that are in Zillow. And I’m going to go through all of them and I’m going to call the landlords. Do you think if you’ve got a little hundred and $25,000 house and there’s a guy who owns this thing renting it for nine, 50 months, maybe he might be interested in getting another one. Or she says there’s no phone number on here, but you can click, ask a question, you can send them a message. All right. So call these guys who have these rental properties. And if you go through, you might find one that’s a property manager. Here we go. Or maybe not. This is a property owner, Patrick Landry. Call this guy. Ask him if he’s looking for another rental property in the air. Ask him if he wants to sell this one. You know? Do you have any other properties you’re looking to sell? Are you looking to buy? What are you looking to buy? If you see a really nice house, this is a rental by the room. This is where some kind of apartment are. Never mind. Don’t call the apartments. What I might do here is home type. Let’s just do houses. All right? If you find a property manager. Here we go. Maybe. I don’t know what this is. Let’s say it’s a property manager. Hey, do you have any clients that are looking to buy some more rental properties? The property managers are realtors. Right. You can tell them I will pay you a commission if you bring me a buyer. And by the way, also, do you have any clients who have a rental property they might want to sell? I’ll pay you a commission if you bring me a seller and bring me a deal that I can buy. So when you talk to these property managers, they’re a great source of buyers and sellers, but let them know that if you buy the property, you would still try to use them as the property management company. You will let them get both sides of the commission so they can represent you and the seller, etc.. Does that make sense, everybody? Really good. The first thing I do when I get a property under contract is I look for all of the rental properties in the area and I start calling all the landlords and property managers probably find a buyer straight from this guy. The other place that I like to go to is go section eight dot com or affordable housing dot com and then type in Baton Rouge, for example, affordable housing dot com. There’s 36 rental properties right now in Baton Rouge. Some of our multifamily is in apartments or townhomes. But looking for this. Like, for example, here’s a townhouse. Guess what? There’s a phone number. Brandon Johnson, landlord, property manager. I don’t know, but I don’t care. I’m going to call him anyway. Hey, Brandon. I see you got a property out here. Are you looking for more? Great source. And, you know, if there’s. If there’s a landlord on who’s got a property and go section eight or Section eight property, then they’re a good they’re a good buyer. You want to know all of these guys? You want to find out what are they looking for? Here’s a single family home available soon. Thomas Craven Lot of these guys don’t use property managers either because you’re cheap. So these are direct phone numbers that go right to them. Okay. One other thing I wanted to show you. I like going in and looking for properties that recently sold that have been rehabbed. And I like doing Redfin better because Zillow doesn’t show the sold amounts Redfin does for whatever reason in some markets. And so I went into Zillow and Redfin. I looked at 708 ten. I looked for sold in the last six months. And I did houses only and I did another filter. No, that’s it. Just sold. Okay. And what you’re looking for is something like this. This is a house. This one sold for $205,000. Oh, wait, real quick. I like to go in and sort by most recently sold. Most recently sold. Found this one. And I’m looking through the pictures. And what do you think when you see these pictures? So the front yard, brand new front landscaping, new paint, new windows. Looks really nice. All right. New appliances, new windows, new cabinets, new flooring. Everything’s new. This isn’t staged. There’s nobody living in it. You think maybe somebody, an investor, bought this and rehabbed it? I think so, yeah.
Gavin: That’s good. Good job.
Joe: Beautiful property. Oh, you know what? Maybe they’re looking for more. I don’t know. What do you think? There he is. Jonathan Tureau Exp Realty. And then look at this. Move, move, move. Christie Ferris, let me zoom in so you can see this. Here’s the agent that represented the buyer. Christie Ferris Well, actually, I don’t care about the buyer because the buyer’s a retail buyer. I’m looking for this. Sorry. John. Johnnah Theriot, VP Realty, Google him. There’s his or her Facebook profile. Realtor.com. It’s a. Cool. There’s a mobile phone number. Gavin, you call her up. What are you going to tell her? What are you going to ask her? This is a realtor who just listed a property that was fixed up by an investor.
Gavin: So I would call her, obviously introduce myself and basically say, hey, I know you’re the listing agent for One Two Three Main Street. It looks like whoever you represent in just in a fix and flip on that. Is that right? And she’ll probably say yes, he did, actually. Okay, cool. Do you work with investors a lot? She’ll say, Well, I’ll just have him over there all the time. Okay, cool. I’m an investor as well or do a lot of marketing and then I’ll lead in. Do you think any of your buyers I have a deal right now or I’m working on a couple of deals in the zipcode. You think your buyer is looking for more deals or any of your buyers? Oh, yeah, they’re all always looking for deals. Okay, great. Now my relationships are off the bill with her. What are they looking for? How quickly can they close? All the easy to work wins. Can you show the house for me? Can you take your buyers in for me? And then we start that that just building rapport. And then now she is part of my team. She’s part of my network. So guess what happens when I get a when I get a deal, I’m going to call. And even if I don’t get a deal, I’m going to try and check in at least once to twice a week minimum. So in two weeks time, let’s say I’m going to deal. I’m just going to send her a message. I don’t know whatever her name was. Just checking in is Gavin. I’m going to find anything. Yeah, just wanted to just say hello and let me know if you have anything coming up or anything you need out with can be a simple message. Is that just to keep the communication, she go? Okay, great. Thanks. Once you communicate two or three times, now you’re more on a friend level anyway, and then you’ll just start to build that relationship out.
Joe: Yeah. Very good. Call the agents. Agents are a great source of buyers and sellers. And just tell them, you know, I’ll let you represent me if you can give me if you can help me sell this deal to your buyer, I’ll pay you a commission out. All right. By the way, you can go into freedom soft and search for that address right here. And it tells you who the owner is. It tells you who is the investor that bought that property and rehabbed it. They bought it in March. So eight months, five months ago, they bought it for 140. They had a loan on it. By the way, this is a great bank. This is important. Listen to this, guys. This is really important when you’re selling deals, when you can offer financing with the deal, you’re going to sell a ton of your deals. So look at this first bank, the first bank. I don’t know who that is, but guess what? Next time you get a property that you want to sell to a rehab or what if you called first bank and said, hey, first bank if you give loans to rehab? Yes, we do. Well, great. I think I have a property that I might want to buy or I might want to sell to somebody else. Do you mind if can I just ask you some questions about what you’re looking for? What are the minimum requirements that you have to have to lend money I on can I show you this deal and would you tell me if you had number one lender on this deal and then what would the parameters be? Yeah, for sure. Right. The bank will tell you we will lend, you know, 80% of purchase price or sometimes I’ll say we’ll lend. We have a special program. We will lend the 100% of the rehab costs if you put 20% down or whatever. Okay, great. What’s your minimum credit score scores? Well, you have to have a 650 or 700. Okay, great. And then you might actually have to ask about reserves and how much you have that in the bank or whatnot right now. So you can have a year to rehab it. And so it’s a one year bridge loan or whatever. So guess what? Now when you are advertising this property, when you’re marking it, you can say financing already in place. You can tell the buyers, we’ve already talked to this bank, they’re willing to lend on this deal. And these are the you have to have a minimum 700. You have to have six months reserves. They it’s a bridge loan and they do this and they do that. Whatever the interest rate is, you just spell out all of the details and the requirements. Guess what your rehab doesn’t have to worry about now. Don’t worry about where the money’s going to come from. And sometimes the more you do this, you can find the bank. Sometimes that will lend 100% of purchase price and 100% of the rehab if there’s enough equity in it. All right. So talk to these banks as well. Find out who is lending the money hard. Money lenders are a great source as well for you. Because why hard money lenders? Come on, look at this. Now let’s go to Baton Rouge, Louisiana. Hard money lenders. You do not want the hard money lenders that are out of state, big national hard money lenders. You want the local ones like this one might be local. I’m just going to click on the first link that came up D all loans lending one that might be now it’s like a directory hard money home does not sound like these are guys that just list national hard money lenders. You don’t want them. You want the. Local guys, this one might be. Is that a local Louisiana phone number? I don’t know. But what you do, guys, is you call these hard money, these local hard money lenders in Baton Rouge, and you tell them, hey, I got a deal here. Number one, will you tell me if you would lend on the deal? Number two, I’ll pay you $5,000, $2,000 if you can bring me a buyer. So now what? The hard money lender knows who all the rehab is. Are they know who the buyers are. They’re going to send one or two texts to one of their preferred rehab ers and say, I got a deal for you and I’ll lend you on the deal. Then you can also, when you’re advertising the property, you can say, Hey, we got financing in place from First Bank. The first bank will lend on this deal. Traditional money. Or if you want hard money, we got a hard money lined loan lined up with tidal loans. We’ve already looked at the property financing already in place. All right. And most of the time, these hard money lenders will bring you a buyer, especially if you can pay them a referral. Makes sense, guys. And does this get you excited or what? I get excited about this because bam, just like this, we’ve shown you how to find buyers. Go look for rentals, go to Redfin look for recently sold one that’s been recently rehab called the listing agent. All right go to go section eight call the landlords call hard money lenders call the local banks. There’s usually good regional local banks that lend money to a lot of these investors for rehab deals, start building relationships and talking to them. And Jim’s absolutely right. Finding buyers is key to all of this. It’s so much easier to sell buyers what they want rather than what you have. Okay. Anything else that I’m thinking of? Oh, yeah. One of the things you could do is you have this list now of all of these recent buyers in Baton Rouge. They’ve just bought properties recently in that zip code. You can send all of them a letter. There is something coming in the next few weeks with freedom soft. They do have a direct mail thing right now. You can click on them and click on Direct Mail campaign, but the direct mail campaigns are kind of outdated and not doesn’t work that well. I don’t like it, but they are updating it. It’s going to be brand new in a few weeks here where you can send through a new mailing company direct mail directly from Freedom Soft here. So you just you highlight all of them. You click Direct Mail Campaign, I’ll show you what it does now. But again, it’s not the best, but you got to give it a name demo. All of these mail templates will be come a lot better, but you can send a postcard and the postcard kind of looks like this attention name. I’m looking for a serious buyer for a property near your area in x, y, z for under market value. If read this if you’re interested, okay. They can send postcards, you can send letters, but you can also send individual one off letters to buyers as well. So if I go back to my lists and let’s say I find a buyer who’s got a lot of deals and I can’t find another example. This is an LLC right here, and they’ve got a bunch of rental properties, let’s say I can send them a letter right from here I go to more actions generate document in the Joe McCall signature edition of Freedom. So if there’s a letter in here, I got two of them, a professional cash buyer letter and an urgent cash buyer letter. I like this urgent cash buyer letter printed on yellow paper. One, two, three. Main Street. All right, the letter looks like this. Urgent notice. Dear McCann Rental Properties. I desperately need to sell my property at address. I’ve been trying to sell it for some time now and I can’t wait any longer. Take a drive by, call me and I’ll let you in. Taxes are paid, title is good and I need this thing sold today. You can make all of this rent if you want. You want them to sound like you’re a desperate, motivated seller. Listen, this. This letter works so well. Please call me right now. Make me a cash offer right now. Phone number. Thank you, Joe. You can put your signature on there if you want or whatever. Right. And then click complete. It creates this letter and you email it to click to mail, click to mail, prints it and mails it. Next business day, first class mail. So you can send one off letters really quickly and easily like that. I send it in color. I want a yellow paper with the color ink and it grabs a lot of attention. You know what they tell me? I get calls on this and they say, listen, I. I just wanted to call you and let you know I loved your letter. I’m not interested in that house, but I love your letter, and I’m going to steal it and I’m going to use it for my own deals. So that’s pretty cool. That’s a compliment, right?
Joe: Go from here. Once that letter is created, you click email and you do. I have a contact in here called Mail Bot and I have a template called Email to Mail and I just click send email and that sends that letter to click to mail, click to mail, prints it and sends it to whoever is in the subject line. Okay, now this is all going away in a few weeks because freedom soft really soon here is going to have a way where you can just click a button here and it will mail this letter directly to the seller. So they’re going to be there working with a new print mail house where you can just mail it directly so you’ll buy credits in advance. Super cool. It’s going to make especially for land investing, a whole lot easier and I’m really, really excited about it. Okay. Anything else?
Gavin: No that was good.
Joe: Maybe. Let’s talk real quick about land, because one of the things that land is a land is a little different. We’re going to be talking more about this in the week ahead, especially if you’re a VIP member. But here we’re looking at land. We’ve got no residents apply filters. So there is 903 listings. Now, these are actives and souls. What am I looking for in Park County? I’m looking for the guys like Bryan McCarthy, the Terrain Project. This is a guy who’s got some nice properties and he’s paying a lot of money to list his properties here. So if I click on his link, for example, I can see all of his properties here. He pays professional photographer to come out, he does drone footage and he is in Aurora, Colorado. So he’s in the area. What if I just call him and say, Hey, Brian, how are you doing? I got a property in the area and I want to know if you want to partner with me on the deal. If you can sell it, split it 5050. Come on. All right. He may say no, but why not? Right. And guess what? He’s going to do all the work of taking the photos, listing it on Lands Watch and Lands of America, which is not cheap. It’s expensive. He’s probably paying up to $1,000 a month to list all. I bet you he’s paying at least a thousand a month to list all of these properties on the Lands of America website. He’s got these premium listing. Shall we already has the buyers. All right. The other thing is you can go through and call like this guy Adam, where you go, Adam Wilkerson. He’s got good photos in there, right? Like this guy. I know. And he’s in Phoenix. So he’s an out-of-state investor. He only has one on there. And this looks pretty good. There is this phone number, there’s this website, and I’ve seen this before. Yeah, this is a REIT conversion or a pebble website. So this is definitely an investor. What if I called him and said, hey, listen, I got a deal out here. You want to partner with me on it? He may say no. He may say it’s not a good deal. But, you know, if you’re new, he’s got probably more experience than you do. So I like going and seeing who are these guys and gals that are advertising properties, land mode. Michael in Oregon This is not a realtor, this is an investor, and he’s doing more premium properties. You can see here, call a guy, ask him if he wants to partner with you on a deal. Most of them will say, Yeah, sure, you can also find realtors sometimes on here. So realtors, my gosh, there’s a ton of them here and they’re like Whitetail Properties is a realtor and well, maybe not Pittfield, Illinois. So sometimes you find realtors on here, sometimes you don’t. I’m looking for one. These are all investors, which is a good sign, by the way, isn’t it? You don’t want a realtor that just lists property on the MLS vacant land. You want one that is listing the vacant land on the land websites. And those are good realtors. Call and talk to you. All right. The other thing I want to tell you is real quick for finding buyers for vacant land deals. One of the other things I like to do is send letters to the neighbors and send letters to all of the land investors that bought property in the last six months to a year. So we’ll send letters to everybody who bought property recently out there, hey, we got this new property. And just in the interest of time or running out, you can find them in priced land list at us. One more thing, Facebook. My gosh, in Facebook, there are a ton of land investing groups and let’s see if it lets me log in. This is your account. Yeah. Hold on. I love Facebook. Facebook is my favorite website on the entire Internet. I love how they just protect my privacy and care about Facebook marketplace, Facebook groups. So like when you’re advertising on Facebook, you need to get a Facebook business page, put it on Facebook business, your business page for Facebook, and then from there you can put it on Facebook marketplace and then you can start posting it in different Facebook groups there, big national Facebook groups for land investors and there’s state Facebook groups for land investors. And then you also want to look for the local Facebook groups that are like the garage sale, buy, sell, trade type of groups. They called different things everywhere. But every community has those groups of ten, 100,000 members in them that are for the local community, for the local peoples there. Okay. And you can post your land there. Don’t be spammy. You’re going to find good you find you find a lot of leads from Facebook. The best quality leads come from the Lancome websites like Land Watch and Lands of America. That’s where we find almost all of our good buyers are from lands of America and land watch dot com. But also put them out put your property out there with good pictures on Facebook Marketplace, all the different Facebook groups, your Facebook business page, Craigslist, put it out there on Craigslist. Let me just say one more thing to finally, when it comes to selling your land, you want to make sure, just look to see what the other competitors are doing, look to see what your other investors are doing. You can see they have nice professional pictures, a good script. Lots of details about the property, lots of pictures about the property. And look at the terms and how they’re advertising the properties, cash on the financing and all that stuff. And you’ll see how to do it. It’s really simple. Just go see what other people are doing and model it. Don’t copy of the model what they’re doing. All right, cool. All right.
Gavin: Anything else? Follow. No, I think I’m getting a little feedback, Joe, when I’m talking this. Yeah, no, I think it’s been a good week. A lot of info, guys. I know that was good. We’re excited to see what we can get done. This not if we got a deal is when it because it’s going to happen. So we’re excited man show VIP people we’re going to be go in Monday coaching call with me when we dove in in more to leads in terms of I might even try and get Chris on if they’re not next week, the week after for sure. So I’m gonna be bringing them on so we can actually say right when this comes in, what are we doing? You’re going to see the back end process as well. So I’m going to be teaching you a lot about that and how that’s looking from where we’re at. So make sure that you are on. I can even give you the time. Hold on, just for. And then this is VIP people. Let me see, Joe do you know when it is?
Joe: Next week and next week if you’re VIP, Gavin’s call is at 1 p.m. Central, 2 p.m. Eastern on Monday. Monday mine is 2 p.m. Eastern on Thursday. So if you’re interested in becoming a VIP, we’re going to be first of all, let me say this in the Facebook group. We’re going to be updating for the next three weeks in the Facebook group. Little updates at new market challenge dot com. Join our Facebook group there. We are taking these recordings down on Sunday night. If you want access to all the recordings we’ve been doing for the first five days, become a VIP member at New market VIP dot com. And if you’re a VIP member, we’re going to be doing more weekly. Each of us are going to be in one call a week for the next three weeks. So we’re going to be updating you all in the program on our progress in the Facebook group. And so if you are a VIP right now, we’re going to get off and we’re going to meet you in Zoom. We’re going to meet you in Zoom. Hey, guys, let me know what you think. Has this been good? If you’ve been getting any value, I want to just see your feedback right now in the chat. So whether you’re watching this on Facebook or YouTube or whatever, please type in your comments. What do you think about this and what are some of the biggest things that you’ve learned? What are some of the biggest takeaways that you have made that you’ve gotten from this week that we’ve done? I’d love to see your comments here. I’m just looking at it right now. So if you’re looking at your computer, type it in. What were some of your big takeaways?
Gavin: While people are doing that, Joe, because you always like to give me your views. Let me just show you mine.
Joe: Oh, come on, nice man. Where are you? That looks like Tampa.
Gavin: No, it is all the way.
Joe: Clearwater? Where are you now?
Gavin: I’m in West Palm. West Palm Beach.
Gavin: Client’s set up, which I’m about to get back into here in a minute it was a two day set up. For coaching clients, if people are interested, make sure you reach out to us. And if you’re on your strategy session, guys, we can help you with an oh so yeah.
Joe: Good. We’re getting feedback here. Dana is posting the comments. Stop it Yeah Butters don’t be a yeah butter. Thank you for the great information. You’re welcome. Well, thank you, Donna. Need to connect and get answers. Good. You got a network. What does Jim say to go in a little faster? Dana, today’s coaching call is really informative about finding buyers. Good next, absolutely valuable and taking away that it isn’t a complicated business. Seems still good if you have a great patent. Well, wait a second. Oh, yeah, that is good. Mike is saying if you’re a broke if you’re a Podio expert, you’re a broker wholesaler. So if you have a great Podio set, it doesn’t mean you’re going to have to do a lot of deals. Awesome content is great to see process in real time, multiple ways to find deals, buyers. It’s been a great week. Very practical information. Nice. What next? Is that it. Thank you. My biggest learning was info on picking the market. Nice land advice. Good. You both are great. Thank you. The ease of doing land. Super great job selling land with investor and listing on facebook business page and then on marketplace. Awesome. Okay. This last one is most important. Pick up that phone. Yes, Ronald, how do I get on Andy’s list? You got to be a VIP. You got to be VIP. New market VIP dot com. You’re welcome. Jackie, do we have a discount code? No, it would just go to freedom soft joe dot come, a great deal to get. We got to go, guys. We’re going to meet you all our VIPs in Zoom. So we’ll see you all later. Thanks, everybody.
Gavin: Thanks, guys, thanks Joe.
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