Today’s special guest is an exceptional wholesaler named Brent Daniels. This rockstar rhino is currently dominating the Phoenix market with a total of $1.2M in closed and pending deals. And that’s just for this year alone! In this episode, he will share the effective techniques he employed to earn a huge amount of revenue in such a short span of time. Have a pen and paper handy, you’ll have plenty to take note of in this episode!
Brent is a licensed real estate agent who was looking for a different way of doing real estate. In 2014, he discovered the exciting world of wholesaling. Over the years, he has devised an amazing program that has made him one of the most prolific and successful wholesalers in the industry.
- While there are a lot of others factors that have contributed to his success, having a proactive approach ranked high in his list. From there, he created TTP or Talk To People, a creative acronym he gave for phone prospecting or cold calling.
- He believes that wholesalers are paid based on the value they provide the marketplace and the community. In other words, he sees wholesalers as providers of opportunities.
- When finding opportunities, he discovered the following options are available at his disposal:
- Wait for it to fall on his lap
- Buy it through marketing channels (direct mail, pay-per-click, bandit signs, etc.)
- Proactively reach out to prospects (under this alternative, you have 2 options: knock on doors or pick up the phone)
- He chose the third option and used the phone and his voice to provide opportunities and close deals. To date, he has already made a staggering million and a half phone calls!
- Other noteworthy insights you will learn from this episode
- The strategy and the exact voicemail script he uses when getting in touch with prospective sellers.
- How he secures phone numbers of prospects.
- The amount of investment you can put into cold calling and the ROI you can expect.
- How much time you should spend on the phone to get results.
- How to identify KPIs and track them.
- The small difference you can make that will have a huge impact (it’s probably not what you think!).
With ingenuity, creativeness, and a proactive approach, Brent has secured his rightful place among the giants in the industry. Give some (or all!) of the strategies he shared a try and you just might earn your own spot among the wholesaling elites!
- Rich Dad Poor Dad by Robert T. Kiyosaki
- The Go-Giver by Bob Burg
- Traction by Gino Wickman
- Thou Shall Prosper by Rabbi Daniel Lapin
If you are Ready to Explode Your Wholesaling Business, Click here to Book a Free Strategy Session with me right now!
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Tom Krol: Hey, guys. Tom Krol here. I am so excited to have just a really special, special guest with me today. This guy who we’re going to be talking to, we are going to put him in the hot seat, we are going to pick his brain. He is a rockstar. He has done over a million dollars’ worth of deals so far this year. I’m super excited to have him on. Not only was he a student, but he also now is a coach and a close friend. He’s been out on the boat with me recently, and we had a little hiccup that I’m sure we’ll talk about, because he’s going to tease me about it.
But he’s just a great man. Great dad, great husband, just a really, a wonderful person. Somebody I learn from every time we have a conversation. He’s a rockstar. So, you know me. We’re going to hold him down, hold his feet to the fire. We’re going to pick his brain. We’re going to make him tell us what’s working and what’s not, and how he’s able to do such a tremendous amount of revenue, especially in such a short amount of time. So, I have Brent Daniels, guys. Brent Daniels, are you there? Can you hear me?
Brent Daniels: Oh, yeah. I love it. Thank you so much, Tom. It is amazing being on the other side of this podcast. You know, with hosting some of them recently, and maybe the Rhino Nation has heard some. But it’s always incredible being on here with you. You bring the most value. I really, really appreciate it.
Tom Krol: It’s an honor, brother, really. Honestly. I mean, you guys, Brent Daniels, he is a beast. You know, soft spoken guy, but he is bringing the heat. So, I want to get right down to the meat and potatoes, but before I ask you about your strategies and how you’re doing what you’re doing, just kind of give everybody a little refresher, the people in the tribe who haven’t, or the listeners who don’t really know who you are yet. Can you just give us a little bit of a summary of who you are, how you got here, what you’re doing, and all that good stuff?
Brent Daniels: Absolutely. So, right out of college I got my real estate license. I thought that it was amazing, and I was going to go and be the top realtor, and I was really focused on helping people buy and sell houses. I was in the real estate business because I had read a book by Robert Kiyosaki about Rich Dad Poor Dad. Right? Not about it, but that’s the title of the book. And it just set me off into this whirlwind of wanting to own real estate, be around real estate, understand real estate.
So, with that being said, I got my real estate license. I started being a traditional agent. And it was okay, but it wasn’t really, really fulfilling. You know, I didn’t really have… I wasn’t in the driver’s seat. It was more of a service business. And that’s great, and we have a lot of people, a lot of listeners to this podcast are real estate agents, and they’re looking for maybe a different way to do real estate. That’s what I was looking for.
So Tom, what I started to do in 2014 is, I started to just go out into the neighborhood and knock on doors of houses that were in just rough shape. Right? So, I just started knocking on the doors. I tried to talk to the homeowners. Most of the time they weren’t there.
Tom Krol: Right.
Brent Daniels: So, I kind of struck out. Then from there what I thought was, “Well, you know what?” Actually, what happened is I knocked on one gal’s door. She answered. She didn’t want to sell, but she had the phone number for her neighbor that lived in New York, so she gave me that phone number. I called up the gal in New York. She was thrilled to get a cash offer from one of my investors, because I brought it to my investor to buy it. He got an amazing deal, she sold her house for cash, and before it even closed, he assigned… I didn’t even know this was a thing…
Tom Krol: Oh, yeah.
Brent Daniels: He assigned his contract for $40,000 to a buddy of his.
Tom Krol: Woo hoo.
Brent Daniels: To a buddy of his. So I’m looking at the settlement statement, and I don’t see him on there. I see something that’s called an assignment fee for $40,000 to his company. I asked him. I said, “What is this? Did you sell the property? How do you sell property you don’t even own?” And he said, “No. You know what? I actually just sold my right to purchase the property. I sold the contract.” And I was like, “Oh my gosh. That’s a thing? Like, is that even legal? What is going on here? Is this something shady and sly and whatever?”
So I talked to my broker, and they go, “Oh, yeah. Yeah, that happens all the time.” I talked to an attorney. They’re like, “Yeah, that’s not a problem if you do it right.” So, that’s what started. That lit a fire underneath me, and I just started calling up people and seeing if they would consider an offer on either buying their house, or assigning the contract. And it’s just really, really exploded from there, to where this year we’re just over $1.2 million in closed and pending deals, and it is just… And that’s in Phoenix. That’s in a really, really competitive market. So I’m really proud of what’s going on, and I’m really proud of the team that I have.
Tom Krol: That’s amazing. First of all, I love Robert Kiyosaki. As you know, I just had lunch with him last week, and so many people… I put it on Facebook, and so many people have been telling me, you know, “That was my start in real estate.”
Brent Daniels: Yup.
Tom Krol: He is a genius, and really just somebody who expands your brain when it comes to assets and liabilities and real estate, and how and what and when. But you have an incredible story. Let me ask you this question. What was the actual tipping point? Was that when you saw your buyer make the $40K? Is that what kind of was the trigger that forced you? Or when did you start door knocking? You know, what was… Because I wasn’t sure if I, maybe I missed the transaction. But you were an agent, and then you started door knocking.
Brent Daniels: Mm-hmm (affirmative).
Tom Krol: Were you door knocking to find people to sell through an agent?
Brent Daniels: Yeah, no. I was door knocking to find investment properties for the cash buyers that I had worked with. So, I had investors that were like, “Hey, Brent. If you go out and find us deals, we’ll pay you 3%,” and I thought that was amazing.
Tom Krol: Oh, wow.
Brent Daniels: I was like, “3%? This is a no brainer. These aren’t even listed. There’s no competition. It’s going to go smooth. There’s no loans to get. It’s all cash. This is fantastic.” So, no, Tom. Unfortunately, I’m a very slow learner. It took me three of those deals. I sold one for… The first one he made $40,000, the second one he made $30,000, and then the third one he made $12,000, and by that time I had figured out the process. But coming from an agent background, sometimes you just get stuck in your ways, and stuck in the things that you know, and it really prevents you from succeeding in different areas. So, fortunately I broke out of it. I saw the potential on it, and I just started talking to people every single day. That’s my thing. Talking to people every single day is the absolute key. Yup.
Tom Krol: TTP. We’re going to talk about that in a second, because I want to fill everybody in on what that means. But yeah, that’s amazing. I’m with you. I know Todd always talks about, you know, he did his first deal. He was writing out handwritten letters, and he did his first deal. I think he made like $40,000 or $60,000 on his first deal, and then he waited like six months before he quit his job as a pharmaceutical rep. You know? But, hey. I’m in the same boat. I didn’t do a deal until I was fired from lawn care, so I’m with you 100%.
All right. So, tell me about your first deal. How did you find it? What was your actual first deal as a wholesaler? What did it look like? Where did it come from? What kind of was your start in the wholesaling side of things?
Brent Daniels: Great. So, after those three deals, what I did is I went into… In Phoenix, we have little pockets that are considered historic neighborhoods. Now, historic in Phoenix is like 1920s, ’30s, and ’40s. It’s not like 1820s, ’30s and ’40s, like some of these markets that the students are in, or the Rhino Tribe is in. So, I just went into a neighborhood. I wrote down… I would drive through the neighborhood, and I just wrote down the addresses of the worst houses on the street. And so, I wrote down one, 1334 Culver. What I did is I got the homeowner’s number. At my real estate brokerage, we had a service called LexisNexis, which lets us get the phone numbers.
Tom Krol: Got it.
Brent Daniels: And so, I plugged in the address, I got the phone number, and I just called them up. I called. I just hand dialed on my phone, along with the rest of his neighborhood, and I would just leave a message. I would just tell them who I was. I said, you know, “My name is Brent. I know this is completely out of the blue, but I was calling about your home on 1334 Culver, and I just wanted to see if you would consider an offer on your property. I completely understand if you have no interest in selling right now, but if you could give me a call back either way, that’d be great.” And then I gave my number, and eventually he called back. We set an appointment. It was a situation where he bought the house with his-
Tom Krol: Well, let me-
Brent Daniels: Go ahead. Yup. Yup.
Tom Krol: Let me just slow you down. So, I just want everybody to understand the gold nugget that you just dropped. Because some people, you know, they might be missing this if they’re just listening, and they’re… So, I really want everyone who’s listening, right now all the listeners should just pause for a minute. I want you to understand, we have a person on the line right now, Brent Daniels. This individual has done over a million dollars in deals so far this year, and the year’s not even over yet. And what he just gave you was an exact, free strategy, with the strategy and the exact voicemail script.
So, every single person, if you missed this, I want you to go back, and I want you to hear exactly step by step the gold, pure gold that he just gave you. You know, you want to be financially free. You’re listening to this podcast. You want to take some massive and imperfect action. You want progress, not perfection. This is where it’s at, right here. What Brent just went through was how he went through the neighborhood, how he identified the properties, what he did to get the number, and then the exact voicemail message that he left. So, I just wanted everybody… Brent, I didn’t mean to interrupt you, but I just want everybody to understand.
Brent Daniels: No, no. Love it. Yeah.
Tom Krol: And by the way, guys, Brent Daniels is a huge Go Giver. I know in this tribe we talk about The Go-Giver a lot, but this is a book that you read how often? How many times-
Brent Daniels: In 2016, I read it every week, or listened to it every week. So, I’ve read through it… I mean, it’s a small book, so it’s not that big of a feat.
Tom Krol: Right.
Brent Daniels: But it was something that totally changed my perspective on everything when it comes to business dealings, for sure. I mean, if there’s one book to read, that’s the one that I highly, highly recommend. You got to get it today. You got to read it and read it and read it and read it and read it, and listen to it, and then read it, and then listen to it again, and then read it again.
Tom Krol: Right.
Brent Daniels: Yup.
Tom Krol: So you guys, that’s another gold nugget, is that this book is a phenomenal book, and all of the results that we’re discussing right now, in large part are due to that. As a side note, you guys, I want to let you know, every single wealthy person I meet with, interview, have a discussion with, they speak about books the way poor people talk about movies.
Brent Daniels: Mm-hmm (affirmative).
Tom Krol: So, if you want to see what people who are in the 1% are doing, have a conversation with them about books, and you will see their eyes light up. They’ll talk about a book that they’ve read over and over and over again. Who is their favorite author, what is their best strategy. A book that they’re planning on reading, a book that they’re reading right now. Something they implemented, and the result that they got. Start reading every single day. The 1% is reading every single day. It’s a small difference, but it makes the biggest impact.
So just again, I hate to go off on a tangent, Brent, but I just want everyone not to miss this. It’s not just what you read, but it’s just reading. Just knowing that you can get through a book. And I know this sounds silly, because there’s some people who are listening and they believe these lies that they’ve been told. You know, they’ll say, “Oh, I haven’t read a book since elementary school. I can’t read. I get distracted. When I read, I have to re-read again, because my mind wanders. I can’t remember what I’ve just read. I have this particular thing, and I just can’t read. When I read, I get tired. I get sleepy. I can’t concentrate.” It’s all a bunch of you know what. So, get a book. Read every single day. It’s so, so important, and it will change your life. And Go-Giver, by Bob Burg, is… Right? I think it’s Bob Burg. Is that the-
Brent Daniels: Yup. Bob Burg and David Mann. Mm-hmm (affirmative).
Tom Krol: Right, and David Mann. So, I would get that book, guys, today, and I would do exactly what Brent just was talking about, and go through it again and again and again and again and again and again. It is absolutely a top five book. For this industry, entrepreneurs in every industry, everyone should read that book. It’s huge. Certainly a big part of my life, as well. So, go ahead. I didn’t mean to interrupt you. Yeah.
Brent Daniels: And real quick, Tom, just to piggyback off of what you said, because you have inspired me. I remember you posting on Facebook, “I threw out my TV. All I do is read books. I have stacks of books everywhere.” Like, you were just like, “This is it.” You were getting so much from it, and you were providing so much to everybody from what you were reading, that you’ve really inspired me personally. So, I have been just… I’ve got stacks and stacks and stacks of books everywhere, and I absolutely… One of my New Year’s resolutions that I’m already starting is to read one new business book every single week. A 52-week challenge-
Tom Krol: Wow.
Brent Daniels: … to go through at least 52 business books next year. Because I’m telling you, every time I go through it… And Tom, you are so right about this… Every time I go through one of the books that either somebody in the tribe suggests or you suggest, or some other big business person. I mean, whether it be Bill Gates, or whether it be Warren Buffett, or whether it be some local guy here that’s just done a ton of business. It has increased my income incredibly.
Tom Krol: Absolutely.
Brent Daniels: Increased my efficiencies in my business. Incredible. I just gone done with a book, Traction, and it literally blew the top off my business.
Tom Krol: Yes. Gino Wickman, right?
Brent Daniels: I’m not even one-tenth of what my business can be with the systems and the procedures in place, and really looking at it as a business, and not just being a highly paid professional. Guys, everybody out there, there is a huge difference between being a highly paid professional and being a business owner. And I am telling you, being a business owner is really, really, really difficult.
Tom Krol: Right.
Brent Daniels: And the playbooks are these books that we’re reading, the books that are suggested. These amazing business books have totally… I mean, Tom, it’s just opened my eyes, man. I love that you’re such an advocate for it, because it really has affected my life in a huge, huge way.
Tom Krol: Well, it’s so funny, because when I was growing up, the only book I had ever read was Dr. Doolittle. It was like middle school, and I had not read a book since then. I mean, literally a book. And it was just crazy. But, you know, I meet with my mentors. One of my mentors is Orrin Woodward, certainly one of the wealthiest people that I know, and he tells me, “You know, Tom. Warren Buffett reads four hours a day.” A few days later I meet with Orrin again in his office, and it’s a beautiful, beautiful, beautiful home, and a office with bookcases everywhere. Books everywhere, everywhere. And I said to him, “Well, you know, I’m trying to improve. How many hours do you read a day?” “Four hours a day.”
I had lunch with Robert Kiyosaki in Manhattan just last week. We were talking about books. You guys want to know the power of reading, right? When you talk to Robert Kiyosaki about books, his eyes light up. He talks about books. And here’s the secret, guys, and again, this is the power of reading. Because when he was talking about books… And we were talking about some specific books. One of them was The Surrender Experiment by Michael Gerber. It happens to be one of my all time favorite books. Because I knew that book, and I was able to keep up with him and have a conversation, an intelligent conversation about that book, a guy like me, who got a 990 on my SAT… Because I could do that, Robert Kiyosaki invited me to come and review another book with him next month. He said, “Oh, we have a small group of people. You know, we get together, we discuss books every six months.” And I’m heading out next month to meet with them, to talk about the book by Chris Voss called Never Split the Difference, 100% because of reading.
Anybody can read. I used to believe all the lies, because I have attention deficit disorder, and I used to believe the lies about how I can’t read, and I have to do this, and I can’t do that. It’s absolute malarkey. Unless you have legitimately a reason, a medical reason where you just cannot read, everyone should read. Build the muscle. It’s not just about information retention. It’s about building that muscle of reading. And then, taking that. Treat it like an instruction manual, and then implement it. I guarantee you, without asking Brent this question, if I ask him about Traction, he will give me an example of something that he read that he then implemented. So, it’s about progress, not perfection. It’s 100% a difference maker. I don’t want to harp on this too long, guys.
Brent Daniels: Mm-hmm (affirmative).
Tom Krol: But I’m telling you. If you’re not reading now, stop searching for the answer. In Ecclesiastes, it says, “There’s nothing new under the sun.” All the men and women who have come before us, they had these journeys. There’s nothing new. It’s all written down. All the answers, all of them are written down in books. Just pick up a book. It’s like sitting with Richard Branson or Bill Gates or Warren Buffett, and having a conversation with them. How much money would you pay to do that? It’s in the books that they wrote.
Brent Daniels: Mm-hmm (affirmative). Mm-hmm (affirmative).
Tom Krol: I mean, read every day. Right?
Brent Daniels: It’s incredible, I know. I know we went off, but it has been a huge… Guys, I’m telling you. Huge, huge, huge game changer. And not only just the information that’s in the books, but the mindset changes. I mean, it just changes your whole mindset as you get into it.
Tom Krol: [crosstalk 00:17:38].
Brent Daniels: So, really, really incredible. Yup, yup.
Tom Krol: So, let’s talk about TTP, because-
Brent Daniels: Okay.
Tom Krol: Yeah, because I know this is what… And anybody who knows you, this is really the meat and potatoes that they want to hear about, and I want to hear about it, too. First of all, can you just give everybody a little bit of a summary of what TTP is, and what some of the benefits are and some of the drawbacks, especially compared to direct mail? Why you do it, and what is TTP? What does it mean? What are we talking about?
Brent Daniels: Sure. So, the talk to people… That’s just a little acronym that I put to cold calling. Right? To phone prospecting, to whatever you want to call it. But, TTP is what I call the program that I’ve put together for the tribe, and for anybody listening, you know? Anybody that wants to have a more proactive approach. Because here’s the fact, guys. You know, we get paid… In this business, we get paid based on the value that we provide to the marketplace and the community.
Tom Krol: Bam. Did everybody say that?
Brent Daniels: So, what-
Tom Krol: Brent, just say that one more time, because I want to make sure everybody heard what you just said.
Brent Daniels: Okay. Yeah. We get paid… The earnings that we make, the income that we make, is in direct proportion to the amount of value we provide. That’s it. That’s the equation. There’s nothing else in there. This isn’t-
Tom Krol: Yeah, and that comes from a book. What is the book? Tell everybody the book. Is it Thou Shall Prosper?
Brent Daniels: Thou Shall Prosper. That’s right.
Tom Krol: What a coincidence, that we both read the same book. There you go again.
Brent Daniels: It is, it is. And I mean, it’s a very, very simple equation. So, the question is, what value do you provide the marketplace? And the value that you provide the marketplace is providing opportunities. Okay? If you’re wholesaling, it is providing opportunities. So, if your strategy is to find opportunities every day, you have three options. You only have three options. One, you wait around for it to just fall into your lap. Which, sometimes it happens. If people know what you’re doing, sometimes people just call you up and say, “Hey, do you want to buy this house?” And sometimes that happens. It’s not predicable, but sometimes it happens.
The second way, the most common way, is you buy those opportunities. You buy it through your marketing channels. You buy it through direct mail, Paper Click, abandoned signs. You know, whatever else. Door hangers. I mean, there’s a lot of different ways to buy business, and it is wonderful, and it is productive, and you can do millions of dollars of business that way, but it is expensive, and it’s getting more expensive the more people are coming into the market. Okay? So, that’s something to consider there. But it does absolutely work. And the Wholesaling Inc. program is the best at teaching you all about that, so that’s just my little plug there.
The third way is, you can be proactive and you can earn the business. You can earn the opportunities. And the only way you do that is if you’re proactively reaching out to the homeowner, every single day. You’ve got two options for that. One option, go to the door. Go knock on their door. Go see if they’re home. Second option, that’ll keep you out of the cold, the snow, the heat, the sun, is staying in a nice air conditioned and heated office, and picking up the phone and calling people, and seeing if they would consider an offer on their property. And that’s what I’ve done. We’ve made over a million and a half phone calls, and we’ve got a process that’s, one, very, very conversational, and two, straight to the point, so that you’re spending the best time, the most time with the people that are likely to do business with you.
So, I mean, that’s the philosophy. The philosophy is trying to add as much value as we can to the marketplace, by using our voice, using our phones. Picking it up, being brave, having courage, talking to people every single day, getting leads, building a pipeline, and then closing on deals consistently once that pipeline is full.
Tom Krol: Bam. I love it. All right. So, let’s get into the numbers. First of all, what are the benefits of cold calling? What do you mean by cold calling? Are you literally just picking out a list, and then cold calling everybody on the list? And in relation to direct mail, how is it better? How is it not better? What does that look like?
Brent Daniels: Yeah. I will tell you it from data from my market. Okay? It can change in any other market, but it’s pretty much similar. I’ve got a very competitive market here in Phoenix, so it costs right now, in Phoenix… To get a deal from direct mail, it’s about 15,000 to 18,000 mail pieces. So, it’s between $5,000 and $6,800 per deal for direct mail. Okay? That’s just the stats from my business.
Tom Krol: Got it.
Brent Daniels: Now, listen. Somebody might have it down better. Somebody might be sending out something different, and have more experience, have better, more people in the pipeline. I get it. That’s just for my business. Now, with TTP, it costs me a fraction of that. It costs me about $1,800 per deal, and that’s having people make the calls for me. That’s for the phone numbers, that’s for the dialing systems that we use. I know I’m going over a lot, Tom, but it’s for the whole process.
Tom Krol: No, no, it’s fine. I want to make sure everyone’s keeping up. So, essentially what we’re talking about, you guys, is we’re talking about right now, what does it cost to actually get a deal? Right? So, to actually get a property under contract, to get a deal, where you then buy the property and sell it, or you assign it, or whatever your exit strategy is, it is.
Brent Daniels: Right.
Tom Krol: But what we’re talking about now is how much marketing dollars do you have to put in to cold calling, in order to get it back? So, you’re saying right now your average deal is, you’re spending about $1,800 to get one deal. What is your average size deal in Arizona?
Brent Daniels: $15,000.
Tom Krol: $15,000. So, you guys, obviously that is a huge, huge, huge ROI. Very, very cool. Now, let me ask you a question. Let me give you a little bit of some common objections, or some of the negatives. Right? Not the negatives, but something to consider if you’re thinking about getting into cold calling. Number one, when I send out direct mail… Right? By the way, guys, I just want to say I’m a little biased, because I actually have implemented Brent’s TTP program, and I made $46,000 on my first deal in the first… How long did it take me to do that? Six weeks? I don’t remember now. I think you know, right? Because you had the… I think it was about six weeks.
Brent Daniels: I think it was six minutes.
Tom Krol: Yeah, it was pretty quick. It was about six minutes of phone time, that’s for sure.
Brent Daniels: Yeah.
Tom Krol: But it was about six weeks, and I think we made just over $40,000. I think it was either $41,000 or $46,000. So, I do love cold calling and TTP. It’s phenomenal. But here is where, I think… Here is the key. If I want to send out 10,000 pieces of mail, I send out 10,000 pieces of mail. Let’s just say I get 50 phone calls, and then of those phone calls, I get one deal. So, I’m only dealing with 50 people on the phone, which is pretty easy. Right?
Brent Daniels: Right.
Tom Krol: But in your system, I’ve got to take 10,000 names. I’ve got to plug them into a dialer. Now, let me just be like what do you call it here, just to give you some kickback. How do you dial 10,000 numbers? And I’m being a little facetious, because I know the answer.
Brent Daniels: Sure, sure.
Tom Krol: But I just want people… Or I know they’re asking themselves this question. How do I… Like, I’m going to be exhausted. How many phone calls am I making an hour? Like, how do I even get through 10,000 phone calls? That’s my first question.
Brent Daniels: Yeah, that’s a great question. We use a dialing system called Mojo Dialer. You upload your lists of addresses, phone numbers and owners’ names, and it dials it for you. So, somebody picks up, you’re talking to them. Somebody picks up, you’re talking to them. So, you don’t hear a dial tone for hours on end. You’re not dialing with your fingers. You know what I mean? It’s dialing for you. I mean, it’s 2017. They’ve got some wonderful technology.
Tom Krol: Awesome.
Brent Daniels: And there’s other… You know what I mean? It’s not a rotary phone, or this would never work. You know?
Tom Krol: Right.
Brent Daniels: So, it’s very, very simple to use. Very user friendly. There’s other ones that you can certainly look into, but that’s the one that we use.
Tom Krol: Now, okay. So, how long can a person legitimately, or how long should they stay on calling? I know you have some specific times. Like, can I do this for an hour? Should I do this for 10 hours a day? You know, if I want to set up a system and crush it, what does that look like?
Brent Daniels: When you start out, I want people to just try it for 10 minutes, Tom. I want them to just try it for 10 minutes, and then get off. Oh, okay. We got over the fact that that’s a 500-pound phone. Okay. Now you get on for a half hour, and you get off. And then you go for an hour. And you want to inch your way up to a minimum of three hours a day that you can make calls, or have somebody else make those calls for you.
Tom Krol: I love it. So, you guys, baby steps. Progress, not perfection. Small chunks. 10 minutes, and then go from there until you get to three hours, and then you’ll be super effective. How many phone calls… What’s some of the data on the phone calls? Like, what can I expect? Are people angry? Is there voicemail? Am I getting a lead every hour, every three days, every five days, every 10,000 names? What does some of that data look like?
Brent Daniels: That’s great. Our goal is to get one good lead an hour. The good lead means that they say that yes or maybe they would consider an offer, and we get most of the pre-qualifying that we’re looking for. The four things we look for in pre-qualifying are the condition of the home, their motivation to sell, their timeline to sell it, and then their price. So, that’s what we’re looking for from… When you’re calling somebody, those are the things that you want to discover and have a conversation about, so that you know if it’s a lead that’ll do business with you. So-
Tom Krol: You guys, that’s genius. That is genius, everything you just said. Everybody needs to go back 30 seconds or one minute and listen to exactly, exactly… You guys, this is pure gold. I want everybody to listen to what Brent just said that he’s tracking, and what he’s doing, and what his expectations are. Now, in an hour, Brent, how many calls can you make, or are you supposed to be making? Because I know you’re giving some data per hour for a lead.
Brent Daniels: Yeah.
Tom Krol: But what does that look like?
Brent Daniels: Usually you talk to about 15 people per hour, and it’s about 150 calls per hour. So, you want to keep your contact ratio at about 10%. And if you’ve got a really good list, and good information… See, it’s really, really, really important to get good data, and to get good data, you need to pay for it. Any cheap, free phone numbers… You know, the reverse lookup or some of these numbers that you get thousands for like 10 cents or something… they’re going to be incorrect. You’re going to get frustrated. I’m just giving you this tip now for anybody listening. Spend the money, and get really good data from either LexisNexis or TLO. That’s absolute key.
Tom Krol: Got it. Phenomenal. Okay. Now, are you actually putting these properties… Like, what happens when the seller says, “Okay. Yes, I want to sell.” Now you have a lead. What happens at that point? How are you transitioning from, “Okay, I have a person who is interested. They do want to sell at a good price.” Are you sending out an acquisition manager, or do you go out, or do you do this all over the phone? Is there a second follow-up phone call? Do you pass it live? What does that look like?
Brent Daniels: That’s great. When it was just me, Tom, making the calls and reaching out to people, what I would do is I would be the acquisition… I would call them. I would be the acquisition manager. I would follow up with them. I’d get an appointment, and then get the contract signed. Now that I have a company and a business built around those, from my phone prospectors it goes to my acquisition managers. My acquisition managers then follow it up until they have a contract signed. And they do at this point go on the appointments, although we’re looking into getting them out of that business, or getting them out of that process. So-
Tom Krol: Okay.
Brent Daniels: Yeah. Mm-hmm (affirmative).
Tom Krol: So you’re actually meeting, then, at some point.
Brent Daniels: Yeah.
Tom Krol: Okay.
Brent Daniels: The acquisition manager is. Yup.
Tom Krol: Right, right. Okay, I like that. Yeah, that’s kind of how I do it. But I just want to get clear, because I wasn’t sure if I heard that right. So, it’s a call back from the A.M.?
Brent Daniels: Yup.
Tom Krol: Okay, got it.
Brent Daniels: Yeah. Mm-hmm (affirmative).
Tom Krol: So there’s no live transfer. Do you set like a call date for them to call back, or… I’m more worried about the passing of the baton.
Brent Daniels: Yeah. No, the phone prospectors tell them that either one of my acquisition managers are going to reach out to them in the next 24 hours. And if they’re really, really hot… I mean, if they’re like, “I need to get an offer now,” then what they’ll do is they’ll shoot me an email, and shoot the acquisition managers an email, and then we’ll go from there. If not, they’ll shoot an email to my virtual assistant. Her name is Lisa. She’s in the Philippines. She takes the lead sheet and puts it into our Podio, and then from there assigns it to one of two acquisition managers.
Tom Krol: I love it. This is easy peasy lemon squeezy. So, you’ve been doing this now for how long?
Brent Daniels: Well, I started making calls in 2014.
Tom Krol: Okay.
Brent Daniels: I’ve been making calls for real estate for a long time, Tom. I mean, traditionally you’re taught to make cold calls to canceled and expired listings, to for sale by owners, and I just transitioned that to I wanted to call on all the ugliest houses in the community. So I started doing that, and that’s how I did my first 25 deals. And then from there, I just kept building and building and building, and was able to bring some more people on and hire them to make the calls for me, and then things have just exploded from there. So, it’s been incredible.
Tom Krol: How do you find… Because there are going to be some people who hear this, Brent, and they’re going to say, “Look. I’m already doing $50K, $100K per month in wholesaling. I don’t want to start cold calling.” I know me personally, you know, I don’t want to do it. Right? What do you say to the person who’s listening, who’s saying, “Hey. Like, it’s great. I love it. But I’m not starting on day one. I’m already doing a lot of deals.” Where do you find those people to cold call? Are they hard to come by? And do they work in an office, or do they all work in your office? Do they work from home? Tell me a little bit more about how you find them, who they are, and what their day looks like. Because it sounds like they’re only working about three hours a day, if that’s what I’m hearing.
Brent Daniels: It just depends. You can advertise or market to find people to make calls for you. And because I suggest paying them $20 an hour, it’s pretty easy to find them. Now, it’s another thing to keep them around, and keep them doing their job. So, what I have done, I’ve transitioned from local people to a really great company that I use. They’re based out of Costa Rica, and they hire actual Americans, like U.S. citizens living in Costa Rica, to make the calls. And by the way, they love it. It’s just so amazing for them. They just absolutely love it. So, that’s what I do with the bulk of it. Before that, I had real estate agents making some calls for me, and then I also had some local people making calls for me here. You know, the challenge is just making sure… It’s kind of like, Tom, I don’t know if you’ve had this experience with anybody in your business. But it’s kind of like a stepping stone job, right?
Tom Krol: Right.
Brent Daniels: They really don’t want to stick around that long. They’re just going to stick around to pay their bills and get their next opportunity. So, you can find people. There’s some people in the tribe that have done a really great job at recruiting and finding people. And remember, these people making calls do not have to be in town. They don’t have to come to your office. They can be completely virtual. And now that the world is going virtual, it’s pretty easy to find them. You can look on Upwork. You can post in Craigslist ads. You can post on job sites. There’s a lot of different options. And so, it’s really not that difficult.
Tom Krol: I love it. I know for sure you have a script that they follow, and all of that good stuff. And then it sounds like you’re using the CRM, which is the customer relationship tool. Guys, that’s just like a database, like Highrise, or wherever you store the seller’s information. You guys use Podio to kind of pass information back and forth?
Brent Daniels: Yeah, yeah. We do. We do. Yeah, we use Podio for organizing everything, and making sure that we put in the tasks, and those tasks get completed. And it has been awesome. I mean, I know it does a billion other things, but at this point the most important thing is that we’re talking to people every single day. So it helps them organize that, for sure.
Tom Krol: Yeah. Sometimes Podio can become a bear, if you’re not careful, so I understand. Okay, terrific. All right. That is phenomenal. I love it. Easy peasy lemon squeezy. I’m going to just tell everyone now, you guys, just so you know, like I said, I did this myself. It absolutely works. That’s why Brent has come in to Wholesaling Inc. as one of our coaches. He now teaches TTP as a separate program, which is talk to people, and he goes through this in much more detail. But, he’s a great guy.
Now, let me ask you a question, Brent. If they want to reach out to you, and get more information about TTP, and how to dig deeper, where can they go? Because I actually don’t even know the answer to this. Yeah, how do they get ahold of you?
Brent Daniels: It’s-
Tom Krol: I should know that, but…
Brent Daniels: Yeah. No, you go to wholesalinginc.com/ttp. It’s that simple. So, literally-
Tom Krol: Oh, is it really? Is that the website?
Brent Daniels: Yeah. You click on the button, and you schedule a call to speak with me personally.
Tom Krol: Hold on. I want to-
Brent Daniels: And we see if you’re the right fit for the program, and it’s the right process. Because here’s the thing. Anybody listening, if you are even considering making cold calling a major marketing channel in your business, you have to join this program. It is a no brainer. I’ve got it laid out. Everything that I do in my business, A to Z. So, you know. Just get on, go to wholesalinginc.com/ttp. Reach out to me. We’ll have a wonderful chat. We’ll see if I can help you out, we can help each other out, and it’d be great. Yeah.
Tom Krol: So, I just went to it. It actually goes right to the application, which is awesome. Guys, I will tell you also that if you are already a tribe member, and you’re already in the tribe, you’re already a Rhino, you’re already in Wholesaling Inc., getting training for wholesaling, you have a massive, massive discount for working with Brent. Now, Brent, what if somebody’s brand new? They haven’t done a deal yet. Do you recommend that they go into your program or not, or where do you stand on that?
Brent Daniels: It certainly depends on your experience, your business experience. You know, if you’re just coming right out of it, I highly suggest that you build the foundation through Wholesaling Inc. You know, the actual Rhino tribe. I went through it. It exploded my business. I tripled it, and now well above that. But I highly suggest they take the main meat and potatoes course on wholesaling, so they know what to do with it when they are talking to people.
If they have experience with real estate, if they’ve done some deals, if they’ve been an agent, if they’ve got a team, I highly suggest that you join the program, if you’re going to be serious about being proactive in your business. If not, if it’s just kind of a fleeting thought, then don’t worry about it. You know what I mean?
Tom Krol: Right.
Brent Daniels: Just keep with your traditional marketing. But as things start tightening up everywhere else, and things get really expensive in other marketing channels, you’re going to see the people that are doing the biggest, best, craziest… You know, getting just the most profits in their marketplace, are going to be the people that are going direct to seller.
Tom Krol: Awesome. And I will tell you, too, I know that we’ve had… As a matter of fact, I literally just went to lunch with Brent Bowers, who I know took your course and he’s had success.
Brent Daniels: Yup.
Tom Krol: And I know we’ve already had a lot of tribe members who are now doing deal after deal. What can they expect? I know with direct mail it’s a little bit faster, because you kind of push it out, and it comes in. I know with the cold calling thing, it’s a little bit of a slower turnaround, because-
Brent Daniels: Yes.
Tom Krol: Yeah, so talk us… So this way we set the expectations right, guys. Because I don’t want anybody to think, “Oh, I’m going to have a deal today.” So, what does that look like, as far as timeline and sales cycle with cold calling?
Brent Daniels: This is that whole data, not drama thing. Right?
Tom Krol: I love it. Mark Gibbons, yeah. I got that directly from Mark Gibbons.
Brent Daniels: Mm-hmm (affirmative). I know. I had my virtual assistant look at every single deal that we’ve done over the last year, and really put a timeline. What was the initial contact, to when did we close and get paid on it? And really interesting stats. From zero days to 90 days, okay? From the first day we contact them to 90 days, 41% of our deals came in that. 59% of them came over 90 days.
Tom Krol: Got it.
Brent Daniels: So, what does that tell you? That tells you follow up is everything. Follow up is key. It is absolutely key. This is not… And by the way, guys, this goes back to are you going to pay for it, or are you going to go out and earn it and prospect for it. When we do send out mail… Because we do. We started that in June… the average days to get paid for mail are 34 days. Okay?
Tom Krol: Got it.
Brent Daniels: So, this is a whole different thing. But, you know. Obviously, for $10,000, I can do five deals on the phone, or I could do two deals in mail. So, it just depends on profitability.
Tom Krol: I love it. That’s so key. And guys, another thing, too. It’s something that we learned from Bob Parsons of godaddy.com, is, you know, whenever you measure gross… And you can tell that Brent Daniels is tracking these numbers. And, you know, a lot of people we talk to, they don’t… I knew ahead of time, obviously Brent is tracking numbers, and that’s why I’m asking him these detailed questions. But the best people in the business, when you have conversations with them, they know their numbers. So, know your numbers. It is critical, critical, critical. These KPIs… You know, things like how long to actually get a deal. I mean, I’m not even tracking that. So, phenomenal. Super impressive. But that’s key.
All right. So, you guys, it’s www.wholesalinginc.com/ttp, which is great. I didn’t know that until now, so now I know, and that’s key. Tribe members, you get a massive discount for working with Brent. It goes without saying, because he’s in the tribe. He started as a tribe member, which is fantastic. And if you haven’t done a deal yet, and you’re just starting off, you may want to learn more about wholesaling before you take this course. I would say it’s probably a little bit more of an advanced course. Do you teach in the course, Brent, like how to wholesale? Or you just assume they know how to wholesale, and then this is like another marketing channel?
Brent Daniels: No, I don’t teach that at all. The way that I see it is, I don’t care what your exit strategy is. If you want to build your rental portfolio, if you want to do flips, if you want to do development, if you want to do wholesaling… You know, this is a marketing channel to get you the absolute best deals in the market, and at the lowest cost.
Tom Krol: Okay.
Brent Daniels: So, that’s what I’m teaching.
Tom Krol: So, you guys, this is not for everyone. If you’re brand, brand new and you’re listening to this podcast, this is something to look forward to, but definitely something you should avoid until you really know how to wholesale. But if you’re already wholesaling, if you already know the basic concepts, and you’ve done some deals or rehabbing and landlording, and you want to find a new channel that is a resource of consistently finding discounted properties, this is it. So, super, super impressive.
Well, good. Brent, before we end this call, what can you leave our listeners with? Any gold nuggets, pieces of advice, anything? How you’ve overcome a struggle, or books that you would recommend, other than The Go-Giver? What would you leave our audience with?
Brent Daniels: Yeah. I mean, I think it… You know, I mentioned it before. 52 weeks, guys. I’m going to post it. 52 weeks, 52 business books.
Tom Krol: That’s awesome.
Brent Daniels: I challenge everybody to do it with me. I’ll post the ones that I’m reading. We can do it together. Or you can post whatever. You know, whether that be… I think it’s fair to say that if you listen to it on Audible, and you read, that can count, but we’ll get into the specifics later. But I think that this is the year to expand. This is the year to really, really dive deep into the books, and really, really… You know, Tom, you’ve been an incredible mentor to a lot of people out there. Your podcast snagged people like crazy, because of who you are. I’m just really excited to see where you bring us, man. Because I’m definitely going along for that ride, brother. I’m going to be swimming in-
Tom Krol: That’s awesome, man.
Brent Daniels: I’m swimming in your wake, big time. It took me a little bit with the books, but I’m catching up.
Tom Krol: Well, I’ll tell you what. Brent Daniels, you guys, was literally… I don’t know why I keep using your first and last name. I think it’s because whenever I talk about you I always say Brent Daniels, because there’s so many Brents in the course.
Brent Daniels: Yeah.
Tom Krol: But you guys, I just want to tell you, we were out. So, Brent had come to my house, and we were hanging out and we were discussing some stuff. This was about, I don’t know, maybe four months ago.
Brent Daniels: July.
Tom Krol: Yeah, July. Right? So we were hanging out, and we said, “Hey, let’s go on a boat ride.” I have a little dinghy, a little, I don’t know what you call it. A little-
Brent Daniels: Pontoon boat.
Tom Krol: … pontoon. Yeah. Nothing to write home about, guys. But we went out, and we had gone… We were headed to the sand bar, and there was a huge boat going by. I like to tell everybody the boat was like a cruise ship. It was like 160 feet. It was probably more like 30 feet.
Brent Daniels: Oh, or double. It was huge.
Tom Krol: It was big.
Brent Daniels: It was the biggest boat I’ve ever seen.
Tom Krol: Yes.
Brent Daniels: It might have been like a military boat.
Tom Krol: Yes. I like the way that sounds even better. So, it’s coming in from the ocean, and I decide to go across its wake. And we just nosedive into its wake, hit the water. The water comes through the rail of the pontoon, and pushes the aluminum into the boat. Total disaster. It took about three months to get fixed. We missed a ton of time on the water, so my wife wanted to kill me. But it was pretty funny. So, there’s our life and death story. We need to make a [crosstalk 00:42:31].
Brent Daniels: Well, by the way, guys, I was in the front of the boat. Okay? I was in the front. I had probably 50 tons of water hit me in like a half a second. Blows everybody all over the boat.
Tom Krol: It was a disaster.
Brent Daniels: Tom’s looking like, you know, a five year old when they get in trouble. Just like, “Whoa.” It was incredible. So…
Tom Krol: It was a disaster. My sister-in-law actually fell out of her seat onto the floor of the boat. It was… Yeah. It was a total disaster. As a matter of fact, I still have your socks that you left in my car, that you had to change out of because they were too wet for the airport. So, yeah. If you ever want your socks back, I’ll bring them to Orlando.
Oh, and Orlando. That reminds me. If you guys are hearing this before the end of January 2018, the January event, I think there are some seats left. If you have not registered, Brent is going… Brent, you’re going to be in Orlando, right? Or no?
Brent Daniels: Yeah. Yeah, I’ll be there.
Tom Krol: Oh, yeah. For sure. Oh, yeah. That’s right. He’s a speaker. You guys, absolutely 100%. He brought it last year in Salt Lake City. I get requests for that constantly. They say, “Oh, can I have Brent’s… You know, his Salt Lake City speech?” Because it was phenomenal. So, get to Orlando. It must be on Wholesaling Inc. somewhere, about the summit in 2018. But, get there. It’s going to be a reduced number of people. Only 150 people. It’s only for tribe members. But absolutely, 100%, if you’re a tribe member, and you’re listening to this and you want to go to that meeting, we’re all going to be there, and it’s going to be 100% laser focused on revenue, revenue, revenue.
Absolutely 100% nothing is for sale. And I don’t mean nothing is for sale like, “Oh, there’s nothing for sale, but then if you sign up… ” I literally mean there’s nothing for sale. This is a revenue producing event for tribe members. So, if you’re a tribe member and you want to come say hello, let’s do it.
So, all right. Awesome, man. So, I love it. That was awesome. We’re going to have to do more of these.
Brent Daniels: I love it. Anytime.
Tom Krol: All right. Sounds good. I’m looking forward to it.
Brent Daniels: I really appreciate it.
Tom Krol: All right, Brent. Awesome podcast. Thank you for sharing the information. Thank you for being a Go-Giver. You guys, if you are interested, it’s wholesalinginc.com/ttp. All right, everybody. Talk to you soon.