Posted on: December 23, 2019

While some wholesalers get extremely lucky and close their first deals without a hitch, others experience challenges and setbacks that sometimes paralyse them and hinder them from taking further action. Fortunately, with the right mentor, developing the right mindset, seeing areas for improvement, and getting back on track is a lot easier!

In today’s episode, we’ll listen in as our very own Cody Hofhine provided expert help and guidance to new rhino John Dreher. Together, Cody and John dissected a deal that went awry and figured out a way to avoid a similar scenario from happening again.

If you’re looking for real-time instruction, expert guidance, and practical wisdom, you can’t afford to miss this episode. Cody not only dished out all 3, he also provided some much needed inspiration (and pep talk!) so you can get back on track and steer your wholesaling business in the right direction!

Key Takeaways

  • Market he’s currently in
  • The challenge/setback he experienced
  • Why you can’t make people commit over the phone
  • Why people are more likely to do business face-to-face
  • What he should have done differently when he negotiated with the seller
  • What he’s doing consistently in terms of marketing
  • The lists he’s mailing out to
  • What list fatigue is and what he should do about it
  • Four great lists he can send mails to

RESOURCES:

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Episode Transcription

Cody Hofhine:
Hey John, are you there?

John:
Hey Cody. Yeah, I’m here. How are you?

Cody Hofhine:
I’m here and ready to help you out my man.

John:
Thanks man.

Cody Hofhine:
How are things going?

John:
Things overall life is good. Life is good. But as far as my business goes, I’m having some difficulty here. I just want to say really first, I really, really, really appreciate you and Anne setting this up. I can’t thank you enough really.

Cody Hofhine:
You are very welcome. So without even word saying, it’s an honor to be on this call with you.

John:
Thank you. It’s so funny. I just finished reading The Go-Giver. One of the things that stuck out to me about it was how the chairman, the old man was thankful to the young guy looking for the help when he came to his house for the very first time and the guy was surprised by him saying that, and it’s funny that you just said that to me. Thank you. You’re thanking me. You guys live it. It’s funny.

Cody Hofhine:
Well, we try every day. We’re not perfect, but we sure do try. We sure do care about our students. So I’m excited to be on this call. John, remind me what market you’re in again.

John:
Right now I’m in Jersey, central New Jersey. So it’s like Union County-

Cody Hofhine:
That’s right.

John:
Union middle school.

Cody Hofhine:
I can hear it in the accent now.

John:
Well, I’m actually a new Yorker, but I’m in Staten Island, New York and I’m right across the bridge from Jersey and to me it just seemed like a better market to be in. Not like I know anything, but I just knew a few people that were and just seemed like a better idea at the time and I’m all in, man. I’m all in now.

Cody Hofhine:
I love it. Well, John, let’s talk through some of the maybe hiccups, any kind of challenges you’re facing. And let me rest assure that the hiccups, the struggles, the challenges that you’re facing, first and foremost, there’s two things I want to tell you is, A, we’re all filling those at some point. I had to go through them, Tom had to go through them. Every student goes through them.

Cody Hofhine:
So I just want you to know you’re not anything uncommon. Like I don’t want you to ever look at this and say, gosh, is it just me? I want you to know if you’re feeling pains and struggles, you’re doing it right because what wholesaling can produce, the success that it can produce doesn’t come easy. And so the fact that it’s hard, already lets me know you’re out there doing something because if it was easy, it wouldn’t be called wholesaling. Wholesaling is definitely not easy, but it’s worth it.

Cody Hofhine:
Then the second thing I want you to tell you and I want you to rest assure, hopefully take a ton of confidence in what I’m about to tell you and that is, life is not happening to you, life is happening for you. So I want you to really think about this. Any of these struggles that you’re feeling, they’re meant for you because they’re going to teach you incredible things to help you become someone better so that as you become someone better, you’re going to have a new set of struggles and challenges presented to you in the future.

Cody Hofhine:
And again, they won’t be there to happen to you, but they’ll be there to happen for you and you’re just going to continue to become someone better and better and better as days go on as long as you look at it this way, that there’s no such thing as a loss. You either win or you learn. So in all these challenging moments, make sure we’re taking time to reflect on what can I learn from this? How do I learn from this? Because if we don’t learn something from it, we’re going to repeat it and repeat it, it’s now on us, if that makes sense.

John:
It does believe me. As a matter of fact, that thought even popped into my head after I spoke with Anne earlier and knew I was going to speak to you, that I have had some wins, but obviously I haven’t closed a deal yet, but I as certainly had a lot of, I would call them failures. I’m not afraid to say failures, but certainly they were all learning experiences. And I’ve definitely taken a lot out of the ups and the downs.

John:
I’m definitely, I’m in a way different spot than I was when I started, that’s for sure. I’m feeling like I’m kind of like in quicksand right now. It’s a weird feeling where I feel like I am almost paralyzed by, I don’t know what. Paralyzed to even take action where I was taking a ton of action and now I’m almost paralyzed out of doing anything which is really weird feeling. And it’s like you said, I believe that everyone feels the struggles and I’ve even seen on the forum or even on the Facebook page actually helps a lot too because there’s a lot of successful run I was on there that I see talking about things that they’ve gone through before they really start to hit this stride. And I’m like, “Okay, I’m going through that.” So I’m not like you said, I’m not out of the ordinary. I believe it. I absolutely believe it.

Cody Hofhine:
That’s right. Well, good. Well, let’s talk through and let’s work through these with the time we have. Let’s start working through what you’re facing and let’s see if we can come up with some real time instruction that all you got to do is just turn on that action, the imperfect action and just act upon what we talk about today and let’s see what the results are, and then if we need to, let’s see if this comes back to, hey, I went out and they did this, here’s the results and now I’m even more confused.

Cody Hofhine:
Or maybe it’s like, hey, that was it. That fixed it. So what we’re going to establish, what this phone call is all about is simply getting the instruction of what you need to do going forward, and then I just want you full blast, go out and get going on it and then it’s going to produce a result and then come back to me with the result. Fair enough?

John:
You got it, man. 100%.

Cody Hofhine:
Okay brother, let’s go. So talk to me, what are some of the pain points?

John:
So I’ve done my marketing, direct mail. I’m doing everything I can to avoid the shiny object syndrome. It’s been out there. I’ve been getting leads coming in the leads and I remember speaking with Tom on a coaching call before, he really put me at ease when he said, “90% of the people you speak to you’re not going to do business with.” And it’s probably even higher than that I bet. But either way that was fine.

John:
I have dealt with people that were motivated. I feel like I have on a few occasions even, well, I’ve had two contracts that I had to cancel and I’ve also had probably three or four other deals that seemed like they were absolute, shoe ins and just never progressed forward. I almost feel like when they say you steal defeat out of the hands of victory like that, that’s kind of like the way I felt like maybe I got to a certain point and I just blew it and I don’t really know how or why.

John:
Like I could give you an example. The last setback that I had was kind of… it felt like kind of a major one to me because I had built up such great rapport, at least I thought I did with the seller. I had gone through a number of different options as far as him not selling me his house even. There was a guy that had his father’s house that he had inherited… not inherited. He took title from his father’s house.

John:
His father was still alive living with him now, but he took the house over and was taking care of it, but it was vacant and needed a full rehab, all this stuff, kind of like the prototypical house for an investor. And I had built up a very good relationship with the guy just speaking with him on the phone and he mentioned to me that he wanted to, he was really hoping to try and flip the house himself and then rehab and sell it himself.

John:
So I thought to myself, “Okay, that’s great.” And the going off of what we’re taught in the tribe, I know 100% what we really want to do is provide value to the person we’re talking to. Whatever that means, it doesn’t mean necessarily at the end of the day we’re going to buy that house. But it could be.

Cody Hofhine:
That’s right.

John:
So I knew some hard money lenders that I had been in contact with and I had a private money lender who was a very good friend of mine. So I was like, “All right, let me talk to these people and let me see if I could connect him with them,” because he was having a hard time getting the financing to do it. So he says, “All right.” And I said, “Hey, well, let me tell you something. I have some people I could talk to and maybe they can help you out with this and you can ideally what you’d like to do. Right?” And he says, “Yes.”

John:
So like I give him, that was the beginning of all kinds of relationship, and after a couple of days I checked back with him after I gave him the info, I said, “Hey, well, did you get in touch with these people?” “you know what, I didn’t. I got to tell you, I kind of just want to be done with it.” So am I wrong in thinking when they say I kind of want to just be done with it that, that is a super motivated person?

Cody Hofhine:
Absolutely. Like that’s a good person getting back out there to the house.

John:
Okay. And I think I may have even seen the house already at that point. His nephew met me at the house and showed me the house. His nephew lives in the area. Long story short, I couldn’t get a number out of him. I could not. I asked five, six, seven different ways. I couldn’t get one. So I said, I was very, very clear to him. I said, “Well, this is the deal. I want to get a price from you because I want to know what your needs are. My needs are, the same, they’re unchanging. And the people that I deal with, that I speak with, their needs are always different and I want to be able to base everything off of what you need.”

John:
“Okay, well, I’m not really sure.” So I said, “Okay well, I’m going to give you a number and it’s going to be excruciating low because I need to assure myself that it’s a good deal for me and I want it to be a good deal for you, but I don’t know what’s a good deal for you.” So he says, “I get it. I get it, no problem.” I gave him a number, it was low.He goes, I said, “It’s 120,000.” He goes, “I was really hoping to get 150.” So finally he gives me a number.

John:
Eventually we left it at 130. That was the best that I could do and I didn’t hear from him again. I said, “Just let me know if anything changes.” He called me back a week later. “Is that offer still on the table?” “Yes. The offer is still on the table.” “Okay. Can I squeeze 135 out of you?” I called him back 30 minutes later. I said, “The absolute best I could do is 132.” Okay. We agree on 132 now the whole thing starts here and I’m totally inexperienced, obviously, Cody. You know what I mean?

Cody Hofhine:
Yeah.

John:
So I do have a lawyer in place, title in place. He says he wants his attorney to see the contract because he doesn’t really know what he’s signing. Obviously I tried to go out there right away to get the contract signed, but I said, you know what, I had been on the phone with this guy over the course of several weeks now. We have spent hours on the phone and talking about nothing really important, but especially not his house or anything like that, just talking about stuff.

John:
So I felt like I trust the guy enough. I give my contract to my attorney. He says, “Okay, yeah, I could send the contract over to his attorney,” a blank contract just to see the terms. Now this drags on for about two weeks where I think that we have a deal in place. We had an agreed price and the next thing he calls me and says, “Well, here’s where we are. We got a different offer on the table. We’re going to go with that.” I’m obviously devastated because I’m like thinking I had a deal [crosstalk 00:11:59].

Cody Hofhine:
Are you ready?

John:
Yeah.

Cody Hofhine:
I’m sitting here and I’m listening to this story, I’m listening to what’s going on and here’s things that I think each one of us, we go through these and now it’s going to be like crystal clear implementation going forward. Fair enough?

John:
Mm-hmm (affirmative).

Cody Hofhine:
So John, here’s the thing I’m looking at. I’m listening to this and there’s the biggest thing that stands out of all of them. I’m going to ask you questions so you can help reveal it yourself without even my help.

John:
Sure.

Cody Hofhine:
Are you more likely to do business with me over the phone or are you more likely to do business with me face to face?

John:
Face to face.

Cody Hofhine:
Face to face, right?

John:
Yeah. [inaudible 00:12:43].

Cody Hofhine:
So in everyone of these scenarios… Yeah. In every one of these scenarios that you’re talking about, you’re doing it over the phone. Here’s the thing, you can’t get anyone to commit over the phone because now there’s a process. There’s, you do want to do that. 130. Awesome. Let’s do it. Perfect. You hang up the phone and it’s like, I either still have to drive to the house or I got to send an email. But essentially what happens in person is you take away all of that. It’s gone.

Cody Hofhine:
You’re right there in person and he says, so 130 you can do. Awesome. And then what you do is this, that’s where you can take a minute and sit back and say, if I can do, notice I used the word if. If I can do 130,000, is this something you’re ready to move forward? Here’s my commitment question. If I can do 130,000 is this something you’d move forward today? And when they say yes, that’s when you sit there and you’re like, okay, if we can move forward today, let’s put an agreement together for 130,000, and then you pull out the agreement and you put it to work because you’ve got the commitment. Because at the end of the day, what are they signing a contract for? There is no terms. He’s signing for one thing, he agreed upon receiving 130,000 and I plan on putting 130,000 in your bank account by this date. Right?

John:
Yes.

Cody Hofhine:
And so when they say, I need to review with my attorney, nine times out of 10 what this means is send over the contract so that I can use your contract to talk to five other cash buyers so I can just start bidding this thing up.

John:
That’s what happened.

Cody Hofhine:
But it’s because all this took place over the phone. So you lost control. The control is no longer in your favor. The control is all in his favor. It’s on his timeframe. So whenever you want to like talk to find motivation, that’s fine. You can totally do that on phone. But whenever we’re negotiating or putting terms together or saying prices, that’s always face to face. Why? Because you said so yourself and it’s true.

Cody Hofhine:
You’re more likely to do business with me face to face than you are over the phone, because you’re now sitting there, you’re now face to face. You now can get the commitment and when you get the commitment there is no other process other than you pulling out the agreement and having them sign it versus, hey, okay, I’ll drive there. Well, I can’t drive right now because I won’t be able to be to the house till six o’clock. You just lost authority again. You just lost position. You just lost control.

Cody Hofhine:
So the control always has to be in your favor. And the only way you can do that is face to face. So whenever you talk numbers, you do it. And when you do it, when you want to present something, you’re presenting it because he’s already given you the commitment. So I don’t even talk price or that I will pay a price until I get that he’s committed. So notice how I say it. Let’s go over this again. Hey, so John, you’re going to do 130,000. If you can do 130,000 I’ll do it today. That’s where you just, mhh, wow.

Cody Hofhine:
So if I could do remember. Remember if. If I could do 130,000. So you’re saying if I could do 130,000 you’d be willing to move forward? Yeah. Okay. So if I can do 130,000, are you ready to move forward today? Yeah, I’m ready to move forward today. Okay. I think I’m willing to do 130 and they pull out the agreement because he committed before you said yes you could do it. The second thing is if he says no, then say, so what’s holding you back? You said if I could do 130. So help me understand this because now I’m confused.

Cody Hofhine:
If I could do 130 what’s stopping you? Well, I want it reviewed by the attorney. So help me through this, John. Help me understand what you mean. You’re agreeing on a price and if I can get you that price, what else is there need to be reviewed? Well, I don’t know what I’m signing. Maybe it’s your own contract, so maybe it’s like, listen, we don’t even have to use my two page contract. Why don’t we use the ones that realtors use? So it’s already been put together by attorneys. It’s already been drafted up.

Cody Hofhine:
I’ll use that for one if you want. Like you’re just talking through the problems right now. So ultimately either solve his problem or really in all reality, find out the real problem. The real problem is he wants someone to commit at 130 so then he can go to the next person and say, hey, if you can give me one 35 I’ll do it. Then he gets to 135 says, hey, if you can do 140 I’ll do it because this guy’s got me already 135. All he’s doing is using that and that’s probably the reality or the truth.

John:
I believe it.

Cody Hofhine:
And those people exist even in my book. So that’s why when we talk about making it a win-win, that’s why I’m talking about, it’s got to sound like a win for them in the sense of, man, I just got John uncomfortable. He was only at 120, I got him up to 130. So that’s a win to him. It’s a win to you because you got them from 150 to 130. And so that’s where you get that true win-win scenario. But you also have to be face to face so that when you get that win win scenario and a commitment, you bring out the piece of paper and say sign here.

John:
And then I had a tough time getting face to face with him. Like the night we spoke on the phone, like you said, I did make the mistake negotiating over the phone, but I said, “All right, we’re ready to go. I can drive out to you tonight and we can take care of the paperwork.” “You know what, I want to send it to the attorney.” Now I’m just like, uh, I’m like I don’t have to say back.

John:
And even after that there was another time [inaudible 00:17:57], “The attorneys said okay. We’re all good to go. Okay. So I’ll bring the contract out to you and then we’ll get it signed.” And then, by that time, there had already been some games being played. And like I said, I really trusted this guy. I have faith that people are going to do the right thing or have better intentions always. I don’t want to assume that something shady is going on and maybe it’s shady. Maybe it’s not. Maybe it’s just business. I happen to think that ethically it wasn’t the right thing to do, but again, you’re right. I could have done things to prevent this from happening anyways in the first place.

Cody Hofhine:
The best thing, John, that you’re saying that makes me like super proud of the fact that you’re willing to take action on yourself versus you take action on him in the sense of you look in the mirror and say, listen, it’s my fault in the first place. Like I should’ve done this face to face because most people want to find fault in something else because it’s easier. It’s easier to pass the buck. It’s easier to pass the crotch on to something else.

Cody Hofhine:
It just wasn’t the right time so I didn’t get the deal. Or you can look in the mirror and say, is your lack of followup. I’m sorry. I’m saying this particular story. But my point is when you can look in the mirror and say, okay, what do I learn from this? Now there’s room for improvement. Now there’s an actual possibility you’re going to become someone better and when you become someone better, this isn’t going to happen.

Cody Hofhine:
Like, listen to what’s happening right now. Me and you are now on this phone call talking and now you’re like, oh my goodness, this happened for me for a reason. So in the future that when I’m talking on the phone, I never talk numbers. I never negotiate. That’s always done in person. So now when someone says, what can you offer? That’s a good question, John. But what I need to do is I need to come out and look at the house because I don’t even know what to make an offer on because I don’t know what condition it is. Well, it’s in great condition. Awesome. I still need to check that out because I just need to verify what it is for me on what I would need to do. But I’d love to come out Wednesday at two o’clock. Does that work? Like now you’re just finding ways to just get in front of him all the time because most businesses want face to face, not over the phone.

John:
I believe it. This has been humbling. It’s been very humbling. But if I’m not looking at what I’m doing and the mistakes I’m making, I’m not going to learn anything. If I turn around and say, this guy, he’s a jerk and his attorney, they both jerks and they’ve taken advantage. Well, what am I going to do? I’m going to go looking for sellers that don’t do that and attorneys that don’t do that. You know what I mean?

John:
And I get that part of it and I really just feel like, you know what happened? Like this thing just happened a couple of weeks ago and at the same time my leads kind of like started to slow up coming in now. And I’ve also been trying to really look at every single lead I have and say, “All right, is this somebody that’s going to do business or they’re not going to business? What should I do with them as far as followup goes. Send an offer in the mail or bring them to a yes or no, or maybe, in the future,” and I’m trying to kind of like weed out the people that are wasting my time.

John:
Again, I know it’s not all about me. I want to be able to help anybody and everybody I speak to on the phone. So if they’re picking up [inaudible 00:20:53] about their house, that’s sort of a ballsy thing to do. It’s not something I think I would do. So if they’re obviously reaching out in one fashion or another. So I don’t want to totally blow people open. I also know my time, man, I don’t have a lot of it. I really don’t. I’ve got a busy personal life.

Cody Hofhine:
And the reality is, I learned this unfortunately only… I mean, fortunately I should say. I learned this maybe only six months ago. I asked a dear mentor of mine that I said, “Hey, I want to understand this balance piece. I said, I try to do my best in business, I try to do my best as a husband, as a father. I try to do my best in my church calling. I try to do my best and I just sometimes I struggle with the balance of it.”

Cody Hofhine:
And his answer was unique. His answer was a really cool answer and it was a Christian based answer. He’s a guy that I seek advice for that as well and he just said, “Cody, here’s the cool thing.” He’s like, “No matter where we do, or like no matter where we’re at, so there is no such thing as balance first and foremost,” and I’m sitting there thinking, “Wait, what?” He’s like, “There’s no such thing as balance.” He’s like, “Wherever you stand, simply lift. Meaning wherever you’re at just lift people up.” And he said this in a Christian based way as well in the sense of, bring people closer to God.

Cody Hofhine:
“Like if you’re at work. Is it really work Cody?” And I’m like, “No, it’s not now that I’m thinking where you’re gone.” He’s like, “No. All it is is just lifting people up, building people up.” He’s like, “When you’re at home, is it really home?” And I was like, “I get what you’re saying.” He’s like, “No. Your whole focus as a father and as a husband is just build your spouse up, build your kids up. Like lift them up, bring them closer to God.” And when you’re at church, is it really church? No, it’s just another opportunity to bring the people that you surrounded with closer to God.”

Cody Hofhine:
And so I just sat there and I’m like, “Oh my goodness. Like that is so, so true. Like there is no balance.” It’s just wherever you simply stand, just bring people to a higher place. So whether you’re a Christian based or not, that doesn’t matter. The whole point is you’re helping people become better individuals. You’re lifting them to a higher place. So wherever you stand, just simply lift and that-

John:
I like it.

Cody Hofhine:
… lesson will stay true to me going forward. So there is no balance. There really isn’t. It’s just wherever you stand, just simply lift. But going forward, you’re just going to know how to do this better. You’re going to be able to do it face to face because I can lift better when I’m face to face versus lifting someone over the phone or lifting them through an email. Yes. Does it work? It does. But if you want, these are small shifts.

Cody Hofhine:
Like I am so pleased to hear that, that is your problem because I feel like that’s just a small shift. I don’t feel like what I’m telling you on the phone is not anything that, A, that you don’t agree with, but B, that you feel like is an attainable. Like you look at that and you’re like, oh my gosh, that’s totally true and I can do that. And you can and you will. And because of that you’re going to get better results the next time you have an appointment like that.

John:
Sure. I do. I don’t doubt anything. I just feel like I got lost somewhere. And I almost feel like kind of like something’s through the cracks a little in a way. It was very, like I said, this is humbling and I guess like a little embarrassing being this far along and not having closed a deal in certain ways too. And I felt like it was a humbling experience just typing my question and knowing that I was going to be on the coaching call and everybody out.

John:
You usually hear a lot of successes about people that are on track and I feel like I kind of got off track, and I don’t mind saying that in front of people, but it still is, it’s not easy, you know what I mean? It’s, I feel like I should be at a certain point by now and I’m not. Nobody to blame really but myself, and I think maybe I’m doing things out of sequence. Maybe I’m just not focusing enough on certain things. I don’t know what. Like I said, my leads sort of stopped coming in and now it’s like time to start re upping my marketing again and I’m not really sure like which way to go with it. You know what I mean?

Cody Hofhine:
Yeah. Let’s talk through that too real quick. So first and foremost, is that clear you’re negotiating how to do it better next time. Does that-

John:
Oh my God, yes.

Cody Hofhine:
… give you crystal clear action?

John:
Oh my God, yes.

Cody Hofhine:
Perfect. Second of all, here is one thing before we move on to the marketing is just remember I think that enemy’s best tool is simply have you compare yourself with other people. Don’t compare John’s beginning with someone’s middle or someone’s end. You just be John and that’s it. That’s it. Don’t compare your story to someone else’s or man, this guy did a deal in 50 days. I should be doing a deal on 50 days. No, because they’re not John and you’re not Sally. Like don’t compare your beginning with someone else’s-

John:
I believe that man.

Cody Hofhine:
… middle or someone’s end. Just be where you’re at and stand. Right?

John:
Yep.

Cody Hofhine:
So here’s, let’s move forward on the marketing. There’s going to be a couple of things that could shift that I see all the time. You said that, oh I just feel like the leads [inaudible 00:25:52]. So here we go. Did anything change? Let’s go back 90 days. First and foremost, are you sending out marketing once a month? Are you sending out marketing once a week? What were you doing consistently?

John:
Once a week about somewhere between like 700 and 1000 a week for the last I’d say like six months and it was tax delinquent and code violation list. And I got a lot of the first cycle through, I got a lot of calls. The second and third cycle through, it was much, much less. So I’ll say like, for the first cycle through I would get maybe, I don’t know, 20, 25 calls a week and then by the time this last cycle just finished, it was maybe five calls a week. So I don’t know if that’s normal.

Cody Hofhine:
So has anything shifted? I’m going to keep asking some questions because literally your quality of life, my quality of life. Think about this. Our quality of life rest upon our quality of questions. So I’m going to ask you some more questions. So you were mailing out to tax delinquent. I’m going to write this down. Tax delinquent and you were mailing out to code violation, right?

John:
Yes.

Cody Hofhine:
Once a week anywhere from 700 to 1000 pieces. Over the last 90 days, has anything shifted? Have you missed a week? Has anything gone different from what you just told me? Every week I send out 700 to 1000 pieces. Have you stopped any of the weeks in the last 90 days?

John:
No. And as a matter of fact, I also, in the meantime was, I’ve been driving for dollars once a week and just trying to get like, there’s anywhere from 150 to 250 or so properties on my list. So I’ve been building up that list and sending out to that list too now. So it might even be more than 1000. Who the heck knows? I should know I guess.

Cody Hofhine:
But you haven’t missed any week sending out. Right?

John:
I have not missed a week sending out mail, not once. The tax delinquent and code violation.

Cody Hofhine:
Seen a drop?

John:
Yeah. The last cycle ended probably like last week. I think so. And I just, now I’m reaching back out to the municipalities, which in Jersey you have to go to every single town and not just the county. You have to go to every town to get the lists. So I’ve been doing that now [inaudible 00:28:06].

Cody Hofhine:
So let’s stop right here for one sec. Nothing’s changed, which is good sign. That means you’re staying consistent. I love that. So there’s two things that come up. Well, marketing in general is cyclical. It means there’s turn on cycles and there’s turn off cycles and you just never know when they’re going to hit. But the second thing I want to say is, it can be sometimes just list fatigue, meaning they’ve seen your message how many times? How many times has each seller has seen that piece that you’re marketing? Like have you mailed to each person three times, five times, one time? What’s the number?

John:
It’s at least three, maybe four times.

Cody Hofhine:
So what I want you to do is I want you to start looking at a couple lists to get some numbers and let’s try another list for a little bit and then we can always come back to this list. But I want you to remember these words, it’s pend, P-E-N as in Nancy, D as in Delta. P as in Paul, E as in echo, N as in Nancy, D as in Delta. So Pend. Always remember the word Pend. Why? Because it stands for four lists and all the lists are a distress list, not a high equity list.

Cody Hofhine:
So here’s your distress list. P stands for probate, E stands for eviction, N stands for NOD or notice of default, and D stands for divorce. I want you to go out and see what of those four lists you can go get and I want you to start mailing to those because there are a distressed list still. They are a great list. We love that. We love all four of those lists.

John:
I know as a matter of fact that I had gotten information when I first started about the eviction list, the eviction notifications, and it seems like it’s actually kind of a pain in the butt to get, which I’m totally cool with doing that because that-

Cody Hofhine:
That’s why it’s even better.

John:
Exactly.

Cody Hofhine:
That means no one else is going to work hard to get it, but [inaudible 00:29:58] tribe members we’re going to go get it.

John:
You got that right, man. I’m definitely going to be… actually, I’ll go in the morning. They said you can use the public computers in the courthouse to use them. So I’m going-

Cody Hofhine:
I lobe it.

John:
… first thing in the morning I will do that. And then as far as like, so I wouldn’t even know where to begin to get a probie notice for notice of the fault [inaudible 00:30:16].

Cody Hofhine:
Here’s the best part. I don’t either, but you can figure it out.

John:
Awesome. I like it. That’s cool. All right, so [inaudible 00:30:24].

Cody Hofhine:
That’s it. Don’t ask how, ask who. Instead of asking how, ask who. Go find someone that knows how to do it and go do it.

John:
Should I do all of them or does it matter? I mean, [inaudible 00:30:36].

Cody Hofhine:
Whatever develops the numbers, because maybe you look at probate like, there’s only 100, but I want to send out 700. Let’s look at eviction. Awesome. That gave me 500. So just go look at all four of them and see what the numbers are.

John:
Done.

Cody Hofhine:
And I think that’s already enough instruction so that we don’t put too much on the plate. Like you don’t want 50 action items to do. I just want you to hone in on always negotiating in person, never over the phone, and then go out and get those four distress lists and then take action on it, and then let’s get back together and let’s see what the results bring you back. Go out and take action. It’ll give you a result and I want you to bring back to me your results.

John:
You got it.

Cody Hofhine:
Fair enough?

John:
That is more than fair.

Cody Hofhine:
Brother, I’m here for you. Like this is a smile on my face. You couldn’t bug me. Like when you say, hey, thanks for doing this. It really is an honor because my whole focus in life is helping you get one step closer to getting your first deal, because all it takes is one deal and then you’ll turn it from face to fact, and that’s when it just turns on like wildfire. So I’m honored to be here and I’m here for you and I want you to know that and I want you to feel that.

John:
Likewise. I do. I appreciate it. I really do. And I will show that by taking action.

Cody Hofhine:
Okay brother, get out there, take action and let’s talk again.

John:
Okay. Thanks Cody.

Cody Hofhine:
All right, brother. Take care. See you.

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