On this video I’m going to talk all things cold calling. If you’re a real estate investor, you will want to stay on this video the entire way through. This is a special video.

 𝐉𝐨𝐢𝐧 𝐎𝐮𝐫 𝐏𝐫𝐢𝐯𝐚𝐭𝐞 𝐅𝐚𝐜𝐞𝐛𝐨𝐨𝐤 𝐆𝐫𝐨𝐮𝐩 
https://www.facebook.com/groups/thescienceofflippingacademy

 𝐒𝐮𝐛𝐬𝐜𝐫𝐢𝐛𝐞 ➜ https://www.youtube.com/justincolby
 𝐁𝐨𝐨𝐤 𝐚 𝐂𝐚𝐥𝐥 ➜ https://www.thescienceofflipping.com/learn-more

The reason why is I actually took it from one of my coaching calls I did with my coaching group. I don’t normally do this because those individuals pay 1000s of dollars to be coached by me However, this call was so good in so thorough, I wanted to give it to you guys, I get a ton of questions about cold calling, where to pull the scripts, what is the script, how to overcome objections, what lists to use, where to skip trace it, all of that is in this video. This video is pretty lengthy. So make sure you watch it all if you’re a real estate investor. And if you’re interested in cold calling, stay tuned.
Alright guys, as I mentioned, this is going to be a little bit of a lengthy video, make sure to turn all phones off all things that will distract you if you’re a real estate investor. Like I mentioned, this is an actual coaching call with me to my coaching group. So take notes, because I’m quite literally going over my script. I’m literally going over how to overcome objections, how to find motivations, what lists to use, where to skip trace it, I go through it all. So keep watching this video, rewatch this video, get ready for an incredible training. I
hope you enjoy it. Now, because it’s outdated. I mean, it’s it’s pretty outdated. But he heard a lot of stories from friends and decided he didn’t he doesn’t want the headache of being a landlord. And so he’s just willing to get out of it. Right now he has the extra, the extra costs monthly cost of the mortgage. He doesn’t want that. So so that’s why he wants out of it. And it you know, yeah, that’s so to answer your question. Not super motivated. But it seems like there might be enough meat on the bone there to do some quick flooring and a slab of paint job on it. And turn maybe 10,000 or something like that are what are your thoughts?
Well, yeah, let me do some quick math, you think it’s worth? You think it’s worth 100? Do you think? Yeah. So 100k to sell let’s just I’m gonna make math easy, even though it’s not perfect times 10%. So it’s going to be 10 grand to sell with realtor Commission’s closing costs. So you’re at nine grand? What do you think the paint in the flooring would cost you?
About six? It’s just the carpet in a couple of rooms that needs the rest of its hardwood and not in bad condition. Are you licensed? No, I have a realtor up in that market, though. who ran the numbers past? And she thinks that can go for higher. I’m
not convinced because of the comps. So well, I’m but but what she could realize that maybe, you know, happens a lot is like, because there’s actually nothing else to acquire. It’ll go to 110. Does that make sense?
Yeah. Yeah, it’ll I think I typically evaluate a little conservatively if there’s three bedrooms all over the place up there and not two bedrooms. And the three bedrooms going for like, notice here, they’re also pretty. They’re they’re pretty outdated as well. So I’m thinking, you know, if I give it a little bit of a little bit of a facelift, then it will be at worth at least 100. But it’s tough to say because there’s no exact comps.
Yeah, so I don’t love how thin the margins are for you to actually acquire it. And so to your point, making it some level of of subject to or seller financing. Have you just even asked, Are you open to some creative financing options to get you your number?
No, like that’s the call we had scheduled this afternoon and I wanted to run run it by you before we had that conversation to see what your thoughts were.
Yeah, so I liked the idea for that better now. Would you still you know, put some pain to it, fix it up and try to resell it.
Yeah, that’s that’s my entire thought because I don’t think there’s enough meat on the bone for a wholesale The only person that might think about it would be a buy to hold, you know, Mar there. I mean, aren’t there a decent amount of them in the area into Lido. Yes, I’m not in Toledo market. I’m in Columbus. And that’s basically where I’ve done all my business. So this is kind of out of out of market for me. So I just don’t have the those relationships. I know that you do. You know? You do. Okay,
I do. So what up? So there’s going to be two answers to what I’m going to tell you right now. So you might want to take notes so we can reference them back and you have my phone number, right. Or you can boxer me now.
I got voxer. I’ve tried to send you a couple but they haven’t looked like they haven’t been read. So I think it’s you. I’m pretty sure. Justin PSLF
shouldn’t be me. Anyways, I don’t have anything that’s unread anyways, um, okay, get on my phone number. Yeah, right. Oh, 4289999. And everyone can take it down if you don’t have my number. So, okay. Um, so the first thing is, if he won’t go for creative financing, get it under contract for what he owes 72,000. Okay, because I believe I’ll be able to help you sell it. There’s no guarantees, here, but I believe I’ll be able to help yourself. So now let’s talk about how to get this property done under credit financing. Okay. Okay, this homeowner specifically only cares about self getting out from under his mortgage. Is that correct?
That is my understanding from our conversations. Yes. And he doesn’t live there. Right is a rental for him? No, he was considering using it as a rental. But then has heard some horror stories from friends who has them doesn’t want anything to do with it. Just wanted out. Yep, I got that. And then is it vacant? I think I think he’s in the process of moving right now. Because he sent me some pictures. And there’s a whole bunch of boxes in there and that type of thing. So
So I would say this, I would say this is exactly what I would say to Mr. seller, and I’m just going to act like you’re the seller, Mr. seller. I don’t know if I can get to that number. In a cash offer type of style. And my business, a lot of times, I’ll just offer cash and I can close quick and those things. That number really doesn’t leave me any margin as an investor, I’m sure you can understand that right. And what you’re doing by saying I’m sure you can understand that you’re getting minor tie downs. So like what I call minor commitments, you’re helping him see what you see. And by him doing that, he’s starting to like, recognize and confirm for you, right? And so then you say, but if you are creative, and you’re open to being having a creative conversation about how to get to your number, I might be able to do it if we can get a little bit more creative. Are you open to that? And then depending upon what he says there can kind of change the direction how the conversation goes. But most homeowners who are open to some level will usually respond to Well, what do you have in mind. And then it allows you to kind of create in the key to any type of creative financing deal is for you to really you yourself, right, you need to start creating, because there’s no real limit with creative financing quite literally is like anything you can imagine you can write up on a piece of paperwork and create that right. So the things I would ask, obviously, okay, you have a $72,000 loan payoff that is your total loan balance. What do you pay monthly? Let me try to kind of find out what I think rents would be if I end up keeping this as a rental property, you know, are you looking, you’re just looking to get out from under it, you’re not moving anywhere, this doesn’t change your life, you’re not going to be doing anything different. I’m just trying to see if there’s anything else I could provide a value for you. And then essentially just say, hey, based around what I’m seeing in the area, what I can structure and I need to, I always need to be able to pass this by my construction and money partner. Because ultimately through construction, even if we are going to put a little work into it, my money partner cuts the check. So I always need to make sure that those two gentlemen are in alignment with this. But given if they were what I believe we can do based around the numbers I see here is we would start paying your mortgage for you. How does that sound? Now I don’t say subject to I don’t use it, because most people have no idea what that means. So I just keep it very simple. And I say what if we just start paying your mortgage for you? You He says, well, that’d be pretty cool. Okay, cool. And then what will ultimately happening is, you know, I can either end up refinancing your mortgage out or just selling the property depending upon if I do turn it. But ideally, this is going to be an investment property for me. And based around the numbers, you’ve said, I’d be happy to start making the mortgage payments, basically just in I’ll get you all the documents, Mr. seller, but essentially, you’re just giving me authorization to start paying your mortgage and taking deeded the home, then I can start doing, you know, all the work that I needed done. Now, here’s the problem, a lot of times with a subject to if he has no motivation, he might get very caught up on the fact that you are now taking over a deed to his home and keeping his name on the loan. That’s what I thought. So if they’re very motivated, they don’t give a shit like, well, I’m going to lead to go to foreclosure anyways. So I do not care. Right? Like, okay, that’s a different person than who you’re dealing with. So another way to do this is the structure stays the same. It’s called an agreement for sale. I have all these all the paperwork, it should be in Facebook, but if you need it, I’ll make sure you get it. Essentially, all it is, is your normal purchase agreement in a den dumb with the terms on it, and the deed is held in escrow. It never conveys until you pay off the original loan. So that seller actually has nothing at risk.
And also, that wouldn’t true trigger a due on sale clause as well. Correct. Okay. Which Yeah, I that one makes a whole lot of sense to me in this situation.
Yeah. So by the way, both of these options can be wholesale double. Like, I still can find a buyer for both. Let’s just say you give him let’s say he’s like, you know what, you’re just really confusing me. I’m an old man, I don’t want convoluted, like, just buy my house, right? Like just buy it out. Then you say, Okay, well, let me do this, let’s let’s put it together. I’m not 100% certain my financial partner is going to approve this, I might have to go to the contractor, or we might have to start to renegotiate with my contracting partner about what he wants to do. So let’s put the paperwork in order. I’m going to have a 14 day inspection on here. And that allows me in my contract or my financial partner, to make sure our numbers are correct, because if I cannot do you know paint and carpet and we they they literally want to do X y&z then we’re not going to be able to move forward. So why don’t we do that? Let me You know, it won’t take me 40 days, let me get the ball rolling. I’ll come in, I’ll buy your home at $70,000, right, normal structure normal stuff, right, you just have your inspection period, and then I’ll help you wholesale it. Okay, if he is open to the creative part, then you still put it under contract for 72,000. There’ll be obviously you’re going to need him to give you the payment stubs for his mortgage, and pay off from the bank. So you really are like, confirmed that that’s the payoff. And you write the terms on this addendum that should be in the Facebook group, right? And you say, okay, so I have, I’m going to still ask for 14 days, because I still need either way, your point is the same, I got to go to my financial partner, I need to go to my contract department, excuse me, I need to make sure they are it I otherwise, we’re not going to be able to move forward, right, they need to make sure the finances you know, for the mortgage payment add up, plus the cost of what I’d be doing to the home, I need to make sure all that pans out. So I’m going to still need 14 days, give me two weeks, let me make sure that they you know can get that done. And by the way, we can still try to wholesale it. We don’t have to have you to actually My point being is we can still try to move it at that number. Okay, right. And then if the green lights it and we can’t wholesale it well now you can make the decision of like should I just keep it and rehab it and go down this path that you’re talking about? And maybe or you know if he goes with the creative financing option. Maybe we don’t want you you want to actually rehab it and then okay, but I’ll tell you why not go take a quick quick nickel real quick if you can kind of just move it because it’s in Toledo
that would be my preference to be honest with you but I’m so I’m right now my mindset is so flipper oriented, that if something’s not, you know, 70% or below then I don’t see a lot with it because the subject twos and you know, cons, the CFD is all that stuff. There’s brand new to me, and I understand it in concept. But in practice, like, how it goes, how the numbers work, and like what the process looks like, obviously, it’s still I’m still trying to work through that in my head, you know, I’m saying,
so I’ll help you if he gives any pushback. But what I just told you is exactly what I’d say. And I don’t know what question he’d maybe asked that would confuse you like, who pays the bank, you’d say that you either give authorization for you to, or you do it through a third party, like Weststar is a company that we use for third parties to pay the bank. And so you know, there’s a third party fully insured third party that I will pay, and they will pay the bank on our behalf to confirm that it’s being paid, right. And the reason why we do that Mr. seller is obviously I could give you the check. And as much as I’d love to trust you with that money, you might ultimately say, who cares, I’m gonna keep pocketing this, I’ll let this home Go to foreclosure, and I’m gonna pocket all his money. So what I prefer is to go through a star, but besides that, like he might ask a couple questions about the process, you say, it’s the same process of selling a home, the only difference is I’m paying your mortgage. Right and your property taxes, right, because I’m gonna, so there’s gonna be a property tax bill that he’s still gonna get because he’s on deed. So until I, you know, I’m an agreement to say, you know, I will pay your property taxes, but my intention is to turn this over. So as I turn this over as a flip, I’m going to pay it through closing the escrow anyways, so I’m happy to do so.
Okay, what about term negotiation, since he doesn’t have a super ton of motivation? Like, what? That is completely something I don’t even have an idea about, to be honest.
So terms negotiate like, this is where like, a lot of times for term, you know, creative financing deals, if there’s not a lot of motivation, a lot of times it won’t work, right. Because you might say, you know what, I’m just gonna run it, I don’t want to deal with this. Like, I just, I don’t understand it, whatever. And so a lot of the creative financing part is really comes down to if they’re motivated, they don’t really care about understand, they don’t care because they’re going to lose the home. If they’re not, then they’re like, I really want to understand it. And then it takes some time for you to really reiterate essentially, what I’ve just told you, like, there’s not a lot more to it. Right? And so you just have to keep Hey, you know, I’m happy to drive up there for you shake your hand. I mean, how far is it two hours? Yeah, about that. So, you know, spend a day go meet with them. Right? Like, if you want the deal that bad, I would tell you, and I don’t know the numbers. But if it’s a $70,000 home that basically just needs lipstick, I really do believe I’d be able to sell it. Like I don’t know if we would make 10 grand. But even if we made five to 10, somewhere in there, it’s absolutely worth it. Yep. So I would tell you that I would start there, I’m getting contracted at 72 no matter what. Because the worst case is you leverage my team, I’ll go try to sell it with my network, right? Because I just in most of you guys know, like, I just invested a boatload of money into a software that gave me access to 2.1 million active real estate investors buyers, across the nation. So because of that, then I can help you guys sell your properties that are a little like, I don’t know, if I have a buyer for it makes sense. So that’s what I’m gonna do. I’m gonna have my team work on it. And I pay my team, right? You don’t have to pay him. Like, if we make some money, great, then they get paid out of the whatever side I get. But I think those numbers just make sense. Right? Like, there’s probably plenty of people who would want to buy that home, because there’s probably not a lot active on the market. Sure, yeah, definitely. Definitely that. So. Hopefully, that helps. And let me know for sure. Yeah, of course, brother, let me know. I mean, I would go straight for it. I mean, because I know Toledo. Right? Meaning, I know there’s a lot of investors there. So I know, you know, we could probably make a handful of calls and try to sell it just in a traditional wholesale name. and not have to get all into the creative side. You know, because, in my opinion, you can always go back to a seller and start going down the creative side if you can’t make it work in the traditional side. Sure. So why confuse the seller out of the gates if you don’t have to? Write because you can always say hey, my construction partner and my money partner did not agree and I can’t get to this number. I’m so sorry. Now here’s what I can offer mister seller. I feel terrible about this, but I do have a solution. We could get creative here. And then I can represent it to him. And here’s what the creative offer looks like. And then you go down this path of, you know, paying his mortgage, etc, etc. Does that make sense? Okay, so
you’re saying just do start with traditional then and then just put that on the back burner as far as creative? Fine. Yeah.
Why not? Because essentially, like, the way I’m seeing it is you’re essentially buying it at 72% of value, or of air ARV. Like, if you’re putting six grand into it. You’re buying it at 75% of value. I think with my network, there’s a market that you would, I would be able to help you move that just traditionally. Okay. Cool. Why not? Because Because the, again, depending upon how the conversation goes, just keep me posted. Because if someone’s not motivated, and then you you layer in creative financing, sometimes you are just causing yourself more headache than needed. Does that make sense? Sure. Yep. If someone’s motivated, and they don’t owe much, or they don’t have much equity, and they’re like, EFF this property and moving on then maybe it’s like, Alright, let’s let’s get creative because you don’t have much fo D. There’s not much here. Let’s see what we can do. Follow me? Yep. cracking. Cool. All right.
Let me know. Thanks, man. I’ll let somebody else have a go.
Right. Um, melki. Diego, are you there? You should be able to unmute. No, you guys had a bunch of questions. dalkey are Diego
Belk is here. How are you? Doing great. Howdy here. Is Florida on is crazy hot today.
Ah and I might be moving to Florida got that does not make me excited.
Well, it’s just that today. all morning. I was out and I just got home to I’m calling out now.
Oh, got it. Okay, so Diego sent me a couple messages. Are you aware of what he sent me? Because I wanted I wanted to answer in front of everybody.
Yeah, that was me. They want that the text this morning is gone. And nothing. You have my phone as he’s one. That’s awesome. Because he’s Yeah, he’s working full time now. So I’m, I’m trying to you know, wholesaling real estate, alright.
Okay, so let’s go over some of these, right? Oh, it is Hi. This is Belkin interesting. Okay, anyways, um, so you are actively cold calling right now in Florida, you’re getting leads, but the sellers want top market dollars. Okay, right. Like they want high prices, not willing to negotiate or take a lower number. You were thinking about changing the market. You don’t feel like there’s a lot of motivation. And you feel like you’re kind of just spending money and not getting the type of leads that you want. So let’s start with that. Because then we had a little further conversation. But let’s start with that. Right, because I think some of this is I need to call out the proper expectation for everybody. First and foremost, whether it’s Phoenix, whether it is parts of Florida, because you guys are in the Orlando area. Is that right? Yes, it is. Yeah. Whether it’s Florida, whether it’s Oklahoma, that I’m also in Tulsa, that I’m also in Milwaukee that I’m also like, in I don’t know where everybody is Ryan, we’re just talking about Ohio, Toledo. Like there’s just not a lot of people willing to take a discount anymore. And that’s not a Florida thing or an Orlando thing or a phoenix thing. It quite literally is a function of two things. One, the entire real estate market nationally has been appreciating for 14 years. Right? The crash was what 2008 2009 so we’re, it’s now rebounded for the last 14 years meaning a lot of people have a lot of equity. So markets like Florida in Phoenix like last year Bell key in 2020 during COVID our market appreciated 25% appreciated. That means if you owned a $400,000 home is now worth 500,000 and that homeowner did nothing to deserve it. So that a homeowner is likely not going to take a discount. Because if you layer on point number two, there’s nothing for sale on the MLS. So now it comes down to supply and demand. If there’s nothing for sale, and someone is interested in selling, they can ask for a premium. Because it’s supply and demand, right? There’s no, there’s no supply. So people will be willing to pay a premium. So, and then you layer on kind of a three, which is like, people were been getting free money from the government. So they don’t have a whole lot of need to do anything, right, they’re, you know, they’re getting, you know, government money to pay their bills. So they’re not needing to financially sell right now, which is not really like a big three, but like, that’s part three, if you want to put on part three. So just in general, that is happening everywhere. Right? Like I see Joel’s on here. And I see there’s other people on here that you’re most people that are active are going to agree like the vast majority of people I talked to, and that you guys are going to be talking to, are not going to have high motivation. So now it comes down to melki. How I was kind of giving you a heads up on like, it’s about proper expectation. If you’re talking to I think you said 40 sellers, that you got from cold call and you’re doing cold calling, correct. That is correct. If you’re doing cold calling, you’re going to need to talk to roughly 100 to 200 sellers, to get one deal. So if you don’t have that many sellers that you’re currently talking and building a rapport and in nurturing, then you don’t even have a chance for a deal because the artistically speaking, because this all comes down to KPIs, right? key performance indicators, the numbers that move the levers. If you don’t have that many homeowners, then you’re not giving your self a chance to get the deal. Now, can anything happen? Can you randomly find a homeowner that is going through divorce, right, then they need to sell absolutely anything can happen. But in the sense of the business and building out a business that will last and has, you know consistency, you need to have 100 to 200 sellers that you’re actively talking to nurturing them to get your first deal to go down.
Okay, now, once you build out a pipeline, and you’re consistently bringing in, let’s just say 50, new sellers a week. Now you’re start gonna see your numbers change. So your first deal took you 200, your second deal will take you 150, your third deal will take you 100 the third, you know, the fourth deal will take you 75. Now, all of a sudden, every 50 sellers or so that comes through your pipeline, you’re closing a deal. So it’s no longer $200 every 50. But it’s because you have a pipeline of sellers, you’re nurturing and working. And then on top of that, you also have to have the proper expectation of cold calling, and the type of leads you’re getting. So let me break it down in this way. Cold Calling is a nurture game typically is not a like a one call close. You call someone they say oh my God, thank god you called I gotta sell right now. But typically, that is not the case. Okay? You’re gonna call someone they’re gonna say, I guess I’m willing to sell what are you gonna offer me? Right? And then they’re not that interested. They’re just doing it because you call them. Right. And so you are being proactive, which I’m a big fan of being proactive because you’re going after the person who’s looking to sell. So I actually like that strategy, right? So with that strategy, then you can then go into it and realize like, Alright, I need to nurture these people because it is an event based business. right this second, they might not be able or willing to sell. But next month, they might have that event that I’m telling you guys about I don’t care what it is divorce, illness, they get fired the event that all sudden because you’re actively nurturing them. They all sudden are motivated to sell. But today they weren’t. But next month they will be.
So for how long do I need to keep them on my CRM, because I do have a few from Last month, they say they wanted to sell but like I mentioned, they won top prize. And many of them The reason was like, well, the properties in Florida, the market in Florida is very high, I want to get as much as possible. So I keep on calling them well now keep on this one once a week or so or send a test, but many of the classes stop. I mean, they’re not answering me, I already have my number identified. So I don’t know if I should keep them there. keep on calling or just
yeah, reach out to them once a month. Okay, once a month, but you keep them there forever, because you’ve already talked to them. So you never stop following up with them ever. Never stop. Now maybe does it get a little bit longer? Like you don’t do it every week? Now you’re probably at every month or reach out, hey, Has anything changed? I’m just letting you know I’m still here. Still looking to buy a property in your neighborhood. Right? But you never stopped following up. And when someone Belk you when someone says I live in Florida, the markets really hot so I want to get top dollar when they say that to you. My first response is, it doesn’t seem like you really are that interested in selling? Write that down. I want everyone to write that down. Because you are going to get that response a lot. Want to get top dollar? Oh, okay. Hey, not a problem. Mr. seller, I I’ll be honest, I talk to a lot of homeowners every day, it doesn’t seem like you’re really that interested in selling, and then shut up right after that. Doesn’t seem like you’re that interested in selling and you shut up? And see what they say. Okay. And here’s why that’s so important. Right? Is because if they are interested in selling, they will try to disprove you. They’ll try to fight you on it like no, no, no key. I’m interested, I am interested. I just you know, I don’t want to like give my house away. Okay, listen, I’m not trying to steal your house either. We can come up with a fair agreement that both of us feel comfortable with. Right? If they’re interested, they will kind of push against you. So what I did is called labeling. It’s from a great book, you guys all should read it called never split the difference. Never split the difference by Chris Voss. It’s a sales book. He’s awesome. He’s an FBI hostage negotiator. So he’s like, super, negotiator. So by labeling someone, they will do one of two things. They will say yeah, I’m not really interested in selling bulky. Or they will fight you. Not physically, but like, they will fight the label you gave them because not who they are. They aren’t someone who not is not interested in selling. They are someone who’s interested in selling. So you’ve got to wait for their reply. And usually they’ll just say, Oh, yeah, well, you called me. So I just figured you’d give me an offer. And if it’s high enough, I’d be interested in if it’s not high enough that I don’t really care. And when when the sub when someone says I won’t really care, then you say, Okay, well, I just don’t want to waste my time, my team’s time or your time. I mean, I have a business I gotta run here. And so, you know, if you’re not really that interested in selling, I’m probably not the right fit for you and you’re not right fit for me, and that’s okay.
All right. But do I tell them that before I explain why we have or it’s a why I’m Why am I planning to buy their house in a discounted price? Because I do try to educate them, telling them well, because they say well, my neighbor sold for 500 and I want to get the same money. So I always go to prop stream or Zillow and see the pictures and see well look your neighbor, these change to roof, the the renovated the kitchens, the bathrooms, they change this and that. Have you done that? Many of them will say, Oh yes. My house is perfect. It’s in perfect condition. I don’t need to.
Yeah, everyone’s house is in perfect condition. We all have awesomely beautiful houses all of us, right. I mean that, you know, people have self pride about their house. Right. And so, you know, one thing about Phoenix that is also true with Florida is there’s a lot of newer homes, right homes have been built in the 2000s. And so there’s other people on this call that there’s a lot of homes that are built in like the 20s and 30s. So sometimes there’s a hurdle because you’re calling someone that the home was built in 2000 If so maybe there is nothing wrong with the house. Maybe you wouldn’t love the paint color because it was painted on six years ago, and you’ve changed it. But maybe it’s not, nothing’s wrong. So before I get there bulky, what I would tell you is ask more questions. You’re trying to give value value value, here’s why you want to do this. Here’s why I asked here, here, here, here’s me, what you need to do is find out about them. So you need to be a doctor. So a doctor doesn’t go into the, you know, when you go to the doctor’s office, they don’t walk in the room and tell you all about them first, do they? Know, they say my name is Dr. Justin Colby. You came in here today? Let me look your file, your elbow hurts. Okay. Well, let me ask you a couple questions. Does your elbow hurt when you do this? And do this and did it and they ask you all these questions, move your elbow up, move your elbow down, blah, blah, blah, blah. And they start asking you a bunch of questions. And it’s because they’re trying to figure out what your, you know, medicine is right, like, how can they help you. That’s how you got to approach every call. And like I just told you, there’s gonna be a lot of people you talk to you that don’t need help. They’re not motivated. They’re no real interest to sell their home. So when they say things like, yeah, sure, give me an offer. It’s only because you called them. So they’re just saying that, but they don’t really have any motivation to sell. So in the Facebook group that you guys are all a part of, we have what I call the sales formula. And it goes through the motivation questions. The motivation questions are like, Why are you looking to sell now? Where are you going to move? Why haven’t you listed it? Why is now the right time for you to sell? When you sell? Where are you going? Those questions have nothing to do about you know, the house. It has to do with? I’m trying to find out Do they have any motivation at all to sell? Or is it just because I called them that they’re saying, Yeah, I’ll sell my home.
Yep, I do ask those questions. When I’m doing cold calling. And I also have an in house cold caller that helps me with that. And whenever we have a home’s a homeowner that says yes, I do want to sell, we go through those questions. How long have you been thinking about selling? Why is now a good time to sell? What would you do? If you know sell to me and stuff like that? Sometimes they are willing to answer sometimes they’re like, I don’t want to answer these questions. Are you going to give me an offer or not?
They’re not motivated to sell them replying. Just like that. Tells you should tell you, they don’t have any motivation. So bulky. Let me ask you this. When let’s roleplay right now. How do you like how do you open the conversation? So I’m a seller talking me like a seller start the conversation.
Okay. Good morning. I’m looking for drazi Yes. Hi, Justin. I know this call is out of the blue but I wanted to check or to see if you are interested in selling or have you given any thoughts about selling the house that you have on 123 Main Street Orlando. Ah, I’m not really. Alright. Thank you. Have a nice day. Yeah. won’t take any more time. They’re
not a problem. Yeah. And so let’s just say I said, well, what’s your offer gonna be?
All First I will have to ask a few questions about the property and their condition. And then I will be able to gather all the information and give you a cash offer.
Okay, so not really bad. I mean, it sounds pretty okay. The point being is if you’re getting the responses that you’re getting is because they have no motivation. Right so the way you know the only thing I’d say you could maybe change would be like Hi, this is Becky. Yes, Isabel key. Hi, Becky. My name is Justin. I’m looking to buy a home in a neighborhood out was making sure that you do still own 123 Main Street, don’t you? Just to make sure that they actually own the home that you’re calling about right. Okay. And it’s a bulky says yeah, I am wanting the main tree. Okay. Well, I’m not sure if you’re interested, but I am looking to buy a home as an investment property in the neighborhood. Do you have any interest or have you given any thought to selling the property?
Okay, I like that. So they know that you’re trying to Get an investment property. So they know it’s not going to be top price, right? I mean, I mean at about the
Yeah, you’re saying it without having to say it
like that. Because another thing that we have found out is many of the homeowners that we call in their investors themselves. So if I look on their names on my, you know, CRM, I’ll see their name five times 10 times. So they have many houses in the same area for around Florida. So they’re like, nope, sometimes they say, Well, I’m not looking to sell, but if you have a property I will buy, so I do use them or put them as my buyers and my buyers list.
Yeah, I mean, that’s also great, too. You know, and so you can absolutely do that. But I think if I if and then I know you told me something else Pelkey about about the lead like never wants to sell her property for market price. Do I still listed as a lead? Let’s say their houses? I don’t know. No. So this would be the exact same person like there’s no motivation. Zillow says it’s 265. And they want 260. Well, so I would still ask more questions. Do you just give up at that point? And then when are you looking at Zillow? Like when are you looking at the numbers values? When do you do that?
During the multiple interview, if they say they’re interested in selling, I go with the questions. How long have you been thinking about selling? And one of my questions it could be it’s probably the fourth or the fifth. I asked, Do you have a number in mind that you would like to solve for? And then they will say well, to 60? Man, I
already know the value of the home. Are you on Zillow already?
I have Yes, because I use Mojo cells, and you just click to see value. Yeah. Yeah, if I have more time, I have already looked in prop stream. But that I mean, hardly ever happened. So is usually a Zilla.
Yeah. And so what I would say here is if someone can give you a number like that, and you see it looks like they just got the number from Zillow. And you actually would act surprised like, Oh, wait, wow, you knew the number out of the top of your head. Have you been talking to a lot of people that are looking to buy your home? Well, no, or Yeah, you know, I get a lot of people calling me and, and really, I just, you know, Zillow says we’re 265. So I say 265. So when someone has a number that quickly, something’s happening. Maybe they’re talking to a lot of other investors, or they’ve looked at Zillow already, and they’re just giving you a zillo number. So I would ask, Hey, while I was quick, so have you been thinking about selling a long time? Like you already knew your number within minutes? Within seconds? And is uh, yeah, well, I’m thinking about selling. I’m talking to a lot of investors, but they always want to lowball me. Okay, is there a reason you have not listed it yet? That’s your very next question. When someone has a number that matches Zillow. Is there a reason you have not listed it yet? And then the reason you asked that is because they might give you a reason. Well, I don’t want people walking through my home. Well, I don’t need to walk through my through your home but as an investor, like I can’t buy retail, right, that number is Zillow number obvious. You’ve looked at Zillow before, right? So that’s where you probably got the number, right. Yeah, that’s where I got the number. Okay, well, that’s okay. But then if I’m going to buy your home without walking and things of that, I’d probably need a little bit of a discount. Are you open to giving me a little bit of a discount based around that number?
Let’s say they say yes, but they’re only willing to give you
250. Yeah, yeah. You say, Okay, well, let me ask you again, like,
why wouldn’t you just list it and get top dollar? Well, I don’t know if I really want to sell right. Like, again, this keeps going back to the play. Like you’re just not talking to people who are motivated. Yeah,
yeah, definitely. I know that because I had to like bull. I don’t know. I always think I think I’m a green personality. They training the other day. Yeah, we were both part. So I don’t want to take advantage or anyone but I don’t want them to take advantage of me. So my husband, he’s, I don’t know, I guess he’s blue or something. And he’s like, Well, why? Why are you advising them? Not to not to sell them like, well, if really, they don’t really want to sell. And it’s I don’t know, it’s just that the other day I had a discussion with this lady, she only has one house. And she bought it 10 years ago, but it was like, she got it in a good price. Right now, she has a lot of equity on it, but she doesn’t really have another house to move. So she was like, well, I want to sell it. I wanted to talk price, so I can buy another one. But there’s no way that she’s going to be able to buy another one, selling this one. So I was just talking to her and saying, you know, what, if if I were you, I wouldn’t sell old rent, and maybe get another loan for another one. But um, don’t sell it. So my husband got upset. He was like, Why are you saying that? I’m like, well, it’s just that is not is no business for us? Because she wants top price. Yeah, I don’t know. It just I like it the lady.
So you know, listen, there’s nothing wrong. Like if you can’t buy it, there’s nothing wrong with like giving her help. There isn’t right. And so I would say like, Do you know your KPIs? Do you know how many calls you’re making a day and how many homeowners you’re talking to?
Before it was two of us making the call. So it’s four hours that I do in the morning and four hours that does Vbn in the afternoon. So we’re making around 700 calls with the module with the three dialer, love it. And contacts. It could go he varies, but we have a good ratio. Now we’re using a better? What is it? Skip tracer tracer? So we’re having contacts, I will say, Well, you know how module calls, three lines, but you don’t really get to speak to the 700 people, you only get to speak like 200 maybe. So we’re getting about that, like 209. I mean, 190 or something contacts. But many of them are not interested. And the very few there are and they do want to talk price or their investors themself.
Yeah. And so I think you’re just not. So again, if you’re making 700 contracts, you’re in Tell me about your numbers. But your numbers should be roughly. So if you’re making 700 calls, right? Yes. Your number of contacts should be 70 a day 70 people? You said Hi, as Justin. And they said, Yes, this is Justin. So that’s a contact doesn’t mean it’s a lead just to contact, right. So it’s 10%. And out of that 77% would turn into an actual seller lead. So 7% would land you roughly around five leads a day, give or take every day. Now, just because a seller is a lead, how I define a seller lead is someone looking to sell in the next 12 months and a story that is a lead. So how I do that? is okay, so if I’m bringing in five a day in, they all want retail, I just need to up my speed it up a little bit. Can I make more calls are brought in my area. And then for the five I do get I need to nurture them. So this kind of goes back to the start of the conversation.
All right, but but like I said, if I could get those five leads, but they don’t they one more, you know they pop money, the retail
price, right? So that’s five, right? So I told you your first deal with land somewhere in between 100 to 200. leads. Okay, so how many days in a row? Does it take you to get up to 200 leads? It’s going to take me a lot. A lot. Right. So 4040 straight days will get you 200 seller leads. Now, that’s 40 straight days of 700 calls a day. Do you think you’ve gotten there yet?
We have done it for about a month and a half? Yeah. 40 days?
Well that. Yeah, but if you do a month that’s 30 days. I don’t know like, did you actually do it for 30 days in the month, or did you do like Monday through Friday. Oh Monday to Friday. Yeah. Okay, so that’d be 20 days. Okay, yeah, you’re right. Right. And then the other thing is you may or may not be qualifying a lead the right way, right? Like a seller is just someone looking to sell in the first 12 months, that doesn’t mean they they will take a discount. And I never, never talked about I will I, I’m an investor. So I’m going to give you a cash offer. So I have to buy at a discount. I never mentioned that. I say things like I’m an investor. So I’m buying another investment property. Sometimes I flipped them, sometimes I keep them in my portfolio really just depends on what I buy the mat. Okay, keep it online, you know, but I don’t offer a lot of information up. First, I try to gather the information. I’ll gather information for two straight hours, as long as it takes to kind of feel out where they’re at, and to see if I can provide value, because ultimately, you need to provide them value for them to move forward with you. But ultimately, you need to essentially nurture them. So how many actual seller leads do you have in your database?
Currently, from the beginning, have 47?
Yeah, so again, you need to, you essentially need to have at least 4x that right? Yes, you need to multiply that times four. So it sounds like you’re doing the right things, essentially, but you just haven’t done it long enough or enough.
Okay. Now, the other thing that is that the properties that I was aiming for is properties that we could do, you know, rehab or flips. But I haven’t really think about doing wholesaling. So if if I’m planning on board, let’s say we find a property that is in good condition, nothing to do rehab on or anything like that, but it’s the the person was the retail price. You think it would be a good idea just to get it on contract and see if it gets, you know, selling? Or do they? The whole selling?
Yeah, you could, right, so we will take newer homes, like a 2015 year build. And we have a lot of realtors on my buyers list. Right? And what do realtors have? They have buyers. Right now I just told you Phoenix has nothing on the market. And so it is most of Florida like you can’t find anything. Right? Like I’m trying to find a property to buy in, in Miami. And it’s just like, there’s nothing. And so if I send that property out, and that realtor can’t see it, because it’s not on the MLS, but they have a buyer looking to buy in the area, they might buy it. Now the challenge will be in can be realtor have buyers that typically need to go to the bank to get a loan and a wholesale deal, you don’t really have the time to do that. So you would have to tell the realtor, Hey, your buyer needs to be cash or hard money to buy this home. You’re there buying it as is there’s no inspection, there’s no appraisal, they’re buying it as is. So you got to kind of educate the realtors when you do it that way. So I wouldn’t pay retail, I wouldn’t contract at retail. But you know, let’s just use the example where the other example where you said $265,000 what Zillow gave, and the seller was willing to take 235 is still not a flip. But could you find a realtor that has a buyer that would buy it at 240 Maybe? Maybe. Okay, well, I’ll try that now. Yeah. that help?
It does, it does. Now I had another question about the how to train the call caller that I have. I don’t want to give her too much information. I mean, I have been on your trainings and I read a lot and stuff. But for her I only want her to focus on calling and finding out whether the owner is willing to sell in the next 12 months or whatever. But what what do you how do you train your your in house callers,
they sit right next to me and they hear everything. Okay.
And then when I get off the phone with sellers, the way I train is they have a notepad. And I say, hey, why did I say that? At this point of the conversation? When they replied with their answer, why did I reply with my answer? So I’m teaching them through actual calls.
Okay. All right. So they’re pretty much doing more than only because the VA is I know, they work differently, right? The VA is really tried to get a lead doesn’t really matter if it’s a good lead or if is business for you. Right? As long as a person says, Yes, I’m willing to sell they will give you a lead. Yeah, that’s what I’m trying. Viviana to learn that. Well, she has, well, I’m teaching her to qualify the seller where there is a highly motivated seller, or they just want a number.
Yeah, I mean, that happens, the way you’re teaching her is like by her hearing you and hearing the seller, by the way. So when you when you’re on the phone with the seller and put them on speakerphone, and the seller says, Yeah, I’m open offered, give me an offer. And they say well, before I give you an offer, you know, let me ask you a couple more questions. You know, when are you looking to sell? Why are you looking to sell? Why haven’t you listed it yet? etc, etc, right? And then you would just say, and then the seller says, Well, I don’t know, like you said, if he asked me if I was looking to give you an offer, so I’m telling you, yeah, give me an offer. Right? That then you get to, you know, simply say, Well, do you know why I answered the way I answered because he just really wanted an offer. There was no motivation there. Okay, so you’re teaching or through the actual actions on the phone. So you can ask like, hey, what was the first question the seller asked me? What was the first question that I asked the seller? When he said x, why did I answer with y? So you’re teaching her through this?
Okay. Good tip. Thank you, Justin. Oh, you’re so welcome. dalkey. I think that’s it. That covers my questions. Thank you very much. Cool. Cool.
Well, we’re gonna wrap up. Does anyone have any other questions? Was that helpful for anyone? quanta Lee? Was that helpful?
Yes, it was very helpful. Just listening and taking notes. I love it. Good. Good. Yeah, it was helpful. I think, I think I need to start calling more people just to or call somebody because I haven’t done any calls yet. Just to get over that. Help.
Yeah. And that’s, that’s part of it. Right? And so is like, just start doing the actions. So I did a YouTube video that you guys will probably see shortly. But I did this morning, you know, reiterate, what I said was, there’s four skill sets to hyper success. And they’re not sales. coding, that’s not what I’m talking about. The first one is consistent consistency. Consistently doing the actions that are revenue generating activities consistent, consistently. The second one is fortitude. You do it when you want to do it or not. Do it no matter what. The third is be willing to fail. be okay with just making progress and learning from your failures. And the fourth is being around people who have done it before you, which would be me. So you know what you just said right there. I think that was Rachel, right? Yep, that’s Rachel. Yeah, that’s exactly right. Just do it without the expectation of trying to get a deal under contract. Just do it. To learn or progress. Okay, I’m gonna do something. I’m gonna do it this week. Yeah. All right. What else Mark got anything, brother?
Yeah, I mean, I wasn’t able to jump on for like the first 20 minutes. I think I was having issues with, on my end, not yours. You know, just if you have time, just a few of the questions that I shot yesterday on voxer. Let me see here, if you got the time, let’s see,
as far usually about nine calls, so I probably don’t have a lot, but um, I’ll knock something out.
Yeah. The third party cold call companies. Yep, you would refer us to?
I will send you a link or do you have the here? I can do it right here. Do you want me to put it in the chat? Sure, that’d be fun. They have they only take application. So that’s all I can give you their application. And I’ll put it in chat. And so they are one of the companies that I use. I used to Okay, other company. So in the chat. So did you see that? Okay. Yep. And then what else? What other data? Are you pulling those 15,000 from?
Is that just nationwide? No, I mean, like targeted zip codes. This?
Yeah. So I in prop stream. So that’s more about what list do I pull in? Like, for me, it’s usually within the cities. Right. And so maybe you should have another training about proc stream in the list. But like in Phoenix, I pull a list of roughly 800,000 Okay, does that make sense? Within America? Yeah. Specific Phoenix. Gotcha. Yeah. Okay. Yeah. What else was that kind of the two big ones.
Yeah, those and then I went and I got a downloaded the script from one of the guides. So I got that answered. And it’s pretty similar the one I’m already using. But yeah, that was the major ones for now.
Okay. Yeah. And just hit me up again, like throughout this week, if there’s something else. I’ll send it to you. Thanks, man. Of course, brother. Alright, y’all, I gotta run. Appreciate you. Let me know hit me up on boxer if you guys have any questions the rest of the week. We’ll talk next week. Thank you. Thank you. See ya. All right, guys. That is this incredible training. I’ve already gotten massive feedback from the students who are on that coaching call. I hope you enjoyed this as well. If you have any questions or any other needs at all, make sure to comment below and if you have not yet, make sure you hit the like button, smash the subscribe button and turn on your notifications. For all the videos I bring out each and every week. I’ll see you on the next video.