Posted on: April 17, 2020

The COVID-19 pandemic has resulted to economic disruptions of epic proportions. However, while things seem bleak, now’s not the time to stand in the sidelines and do nothing.

On the contrary, now’s the perfect time to double down on your efforts to ensure you stay on top of your life and business even in today’s unprecedented economic downturn.

To help you put things in perspective, our very own CEO Cody Hofhine shared his thoughts as well as some of the things he’s been doing everyday to ensure he’s not sitting still and he’s doing something to steer his business in the right direction.

Now’s not the time to let negative thinking take over. Consider this time as the perfect opportunity to focus on aspects of yourself and business that need work. If you can use some expert guidance and some much needed pep talk, this episode is exactly what you need to hear!

 

Key Takeaways

  • Important questions you should ask yourself right now
  • Why it’s important to work on your personal development now more than ever
  • Why more leads are coming in now
  • What the wholesaling business is really about
  • Three powerful words you can use
  • Three action items you should work on right now
  • Why your CRM is more important now than ever before
  • Why it’s crucial to revisit your database right now
  • Why you should find out which among your cash buyers are still in the game
  • Three pillars when it comes to web
  • Why now is not the time to push on the brakes
  • Why you should market consistently every week

RESOURCES:

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Episode Transcription

Cody Hofhine:
You’re listening to another episode here at wholesaling, inc. This is Cody Hofhine. I’m super excited to be with you today. Guys, let’s get right into this. I’m not going to waste any time. We’re going to cut right to it to help you guys keep going with your real estate business and how you can continue to find those deeply discounted properties during this time.
So the recording of this right now, I mean we’re at April 6. You’ll be hearing this here probably in about a week or so. But I want you to know, we’re in the thick of all this coronavirus and all these changes that are going on in the economy right this second. And I just really want to get on this podcast and share with you some thoughts that I’ve been thinking about lately and really what it is I’m doing each and every day to make sure that I’m not sitting still, to make sure that I’m not just kind of waiting to see what’s happening, but that me and my team, we’re very active still.
We are still actively working the business, and there’s been a couple shifts. So I’m going to share with you tips that we are doing right now currently in our business that is helping us still find deals right now in this market. And some of the pivots, some of the changes that are coming on, but it’s okay.
We can do this. We are going to get through this. Guys, this will pass, this COVID-19. It’s time to make sure that we are really ready in ourselves. I think about with all that’s going on with this coronavirus, I want you to really ask yourself, are you mainly consuming what’s going on or are you someone that’s creating right now?
Ask that question to yourself. Are you consuming more than you create or are you creating more than you consume? This is something I believe is crucial during these times because consuming of the wrong information or consuming ideas and what’s presented from certain areas could actually make you not take action during this time.
I think about the media right now. The media is out there to really pinpoint kind of just the bad. Yes, I get it guys. I’m aware. I’m not here to say that I’m not aware of coronavirus and what it’s doing to our economy, what it’s doing to families, what it’s doing to people’s lives. I’m aware of that. However, if all you listen to each and every day is what the news is saying, things are going to seem really bleak, really dark, really troubling. It’s going to sound like the world is being taken over, the economy is going to crash, and it starts to just feed you with all these negative thoughts that won’t serve you. It won’t serve you. It won’t serve me. It won’t serve any of us.
And so, yes, it’s okay. Be aware, be aware there is a pandemic going on, but it doesn’t mean that we need to panic. It means during this time more than ever, we need to actually start taking the time to create. We need to take time to become someone better. So what are we doing? Ask these questions. As I ask them, ask them to yourself. Are you hiding from the future? Are you hiding from what’s going on right now or are you taking the time to develop yourself, to ready yourself, to skill up and be prepared for the future?
Because now’s not the time to hide from the future, now is the time to prepare. Now is the time to double down. We hear from Jim Rowan all the time that rarely does an individual’s income exceed the level of their personal development. Right now is crucial to be working on your personal development, working on yourself because I believe we live in a great time right now. I believe this is going to be in a great time where new thinking, new capabilities, new skills, new mindset is going to evolve.
You’re going to see businesses do things differently than they ever have before. As you’ve seen the stock like crash and go up and down and up and down and do all these things that are just so like volatile. They’re just all over the place. Up 20 points down, 10 points up, 13 points down, seven. Just crazy stuff.
But then on the other side of the coin, you’ve got a company like Zoom who acquired over 50 million customers and their stock is through the roof. So just because there are some companies that could be hurt during this time, that doesn’t mean all companies are going to be hurting during this time. Some companies like Zoom just hit the jackpot.
Now everyone’s resorting to video conferencing because everyone’s working from home. New ways, new thinking, new capabilities are to be evolving from this time that we live in right now.
So it’s crucial that we too, what can we do to adapt? What can we do to evolve, to make sure that we are learning new things that will help us pivot, help us grow and help us be better business individuals on how we run our real estate business.
Now is an incredible time to be into real estate. This is a time that each one of us should really figure out are you in or are you out? Because if you’re in, it’s now time to put the Jersey on and get in the game. It’s no longer sitting on the sidelines. It’s no longer cheering from the crowd. It’s time to put that Jersey on. And it’s time for you to hop in the game, be in the game, be present right now.
There are so many people out there that need your help. Remember when it comes to just real estate in general and being a deal finder and finding these deeply discounted properties, it is crucial to understand that real estate is just the byproduct.
So many times we get into this business and we think, “Oh, I’m in real estate. I’m in real estate. I’m in real estate.” That’s true, that’s true. But it’s crucial to understand that real estate is just the byproduct. What we really are is problem solvers. And right now here’s what I can tell you. Our business has actually seen a huge uptick of leads, leads coming in, more leads coming in now, right this second. Why? Because there’s individuals right now during this time that need our help.
And some of them, it might be to purchase their home. Others, they find out that we’re not the best option, and we still have incredible conversations with these individuals. We’re able to sit there on the phone and help them during this time. Even if we aren’t the solution, we still take the time to sit there on the phone and help them out and really serve them and truly love them. And really what this business is all about is exactly that. Getting a home under contract is just a byproduct of solving people’s problems.
So now is the time. Now is the time more than ever to put on the mindset of service. Put on the mindset of love. Put in the mindset of connect. Those are three powerful words that I use all the time: Love, serve, and connect. Now is the time that you can love deeper, serve deeper, and connect deeper with those that are reaching out to us to see how we can genuinely serve them during this time.
It is a fantastic time to be in real estate. An incredible opportunity sits in front of us to be able to serve people with excellence. Make sure you take this time and reconsider what it is you really are wanting to accomplish? Because right now we are in a unique time to serve a lot of individuals.
Our lead flow is up. Having incredible conversations is happening each and every day with our callers, with our acquisition managers, with our disposition managers. Everyone in our team is having great conversations with individuals right now. So keep that in mind as you are here right now. Keep this in mind. The next thing is I want to give you three tips. I want you to think about this, what it is that you can do today? What is it that our business is doing right this second to make some pivots, to make sure that we are doing everything we can to keep business consistent and steady during this time?
More importantly, how these consistent action items will actually grow your business and make your business better than what it’s been over the past couple months. So write these down. I want you to get out a piece of paper, get out a pen and jot down these three tips, these three action items that once we’re done listening to the podcast today, I want you to get out there and execute. I want you to take massive imperfect action on these three tips right this second.
So the first one is right now you have your database, your CRM, your customer relationship management system, right? So I want you to think of this. Your CRM right now is worth more than you probably ever thought it was ever worth. Now is the time to revisit that database.
Over the last months, if you were just brand new and you’re like, “Man, I’ve been talking to people for maybe only a couple of weeks or a month or two months or five months or six months.” Then there’s some people listening to this podcast that have been doing this real estate game for like two years, three years, four years, five years.
Now is the time to revisit that database, that CRM and start doing your database blast or a followup of individuals. What used to be a no in the past, may not be a no today. It’s crucial to understand this. People in the past might have said no to your services, may not have been interested in selling their home, but things change. Things change all the time and things are changing rapidly right now in the time that we are living.
And from this one simple tip, we are on average receiving another 15 to 20 leads a day by just doing it in segments. We’re not going out there and following up with the whole database all one day, because it would bring in way too much to be able to handle. We want to serve with excellence. We don’t want people to reach back to us, then us not be able to get back to them in 20 minutes or less.
And if it’s going to take us now two days, five days to get back to them, we don’t want that. That’s a disservice. So we’re going through it and getting out as many contacts as we need to, to produce about an additional 10 to 15 leads a day. It’s crucial that you do this. It’s crucial that you look at your database if you already have one and start revisiting it, follow up with them.
The no’s yesterday, last month, the no’s a year ago, two years ago, five years ago, things are changing drastically, and so it’s time to revisit it because a no back in the past, it could very much be a yes today and that they need your help solving their problems.
Be a problem solver. And the byproduct is you will get contracts that allow you to purchase their home. That’s all it is. It’s just a byproduct of doing service with excellence. So that’s your first tip.
Your second tip is reach out to your cash buyers today and see who’s still in the game. What I don’t want you to think is that your whole entire cash buyers’ list right now is still in the game meaning you find a deal and they’re ready to go. What used to be a hundred cash buyers, 500 cash buyers, a thousand, however many are on your cash buyers list today doesn’t mean those same cash buyers are actually buying deals right this second.
Those are some shifts that are completely going on right now, and it’s up to you to figure out are they in or are they not in? It’s up to you to make sure that you understand who’s in and who’s not. And if your list, which many of your lists will shrink when you make these phone calls, you’re going to see a lot of them saying, “Hey, you know what, right now I just got to wait. I got to wait and see what’s going on before I buy some deals.”
Then you’ve got those that are like, “Nope, I am in. I want rentals. I want some simple fix and flips.” And they’re in. They’re in the game. They’ve been doing this and they’ve done it through the ’08 crash. They’ve done it all the time and they know exactly what to do and what to prepare for, and they’re in. And then there’s some newer ones or some ones that are just not wanting to be in the game at this moment. That’s okay, guys. Don’t let this frustrate you. It’s better to be prepared and then the opportunity come versus the opportunity come and not be prepared.
It’s okay. Know which ones are out in which ones are in, and if your list shrinks, which many of your lists will shrink right now at this time, that’s okay. Now, it means you’ve got to put some more effort and focus in rebuilding that list with the people that are in the game. So if you went from 500 down to 200 or from 100 down to 25, I’m making these numbers up, it’s time to revisit on building that cash buyers list and find those that are still in the game.
Find those that are still in the game right this second and reach out to them. It’s crucial. Build that list. Now is the time to know who’s in, who’s out and rework that list and build it back up to a strong list of cash buyers that are in the game right now in this market.
The number three is web. Web, I look at it as like the number. If I hold up three fingers, it makes a W. That stands for web. It’s because there’s three pillars when it comes to web. You’ve got Facebook, you’ve got PPC, and you’ve got SEO.
Now, if you’re just getting in the game, like I don’t do any web right now, here’s the thing, SEO is probably not the first place to start investing because SEO is more of a longterm play. That’s something that could take you three or four months to get from page 100. If someone Googles your company and you’re on page 100, and now you want to be on the first page, it’s going to take time. It could take three months, five months, six months, a year. It could take 15 months. We don’t know. That’s one of those things that depending on what market you’re in, it can take time to work your way up that list.
So what’s crucial right now is if you’re going to get into the web, get into Facebook, PPC or SEO, my favorite right now for getting leads, it’s going to cost a little bit more, but they’re also going to be a lot more qualified and a lot better lead. And our ROI is probably through the roof in this one area, more than any other area right now, and that’s PPC, the pay-per-click.
Now, if you don’t know how to run that, that’s okay. That’s okay. I didn’t either. And I’m not a person that’s going to go out and figure it out. That’s not my area of expertise and I’m not going to jump into this. So what I did is I simply found the best and I’ve gone through multiple people.
If you go back a podcast, we had one where I just did an interview with an individual. His name is Brandon Bateman. He talks about PPC. He talks about what the pros and cons are and what you should be looking for, and what about the ad spend you should be looking at. But this is a time to be in the web. This is the time to either be looking at Facebook, PPC, SEO, or all three at the same time. Because right now, a lot of people, in fact, most people are sitting at home. Right now they’re sitting at home.
And it’s the time to really, really when they’re Googling that they find you, when they are on Facebook, that they see you. And here’s the interesting thing right now. I was talking with Brandon who runs our stuff, and I was just saying, “Hey, what are the pros right now? What does it look like?” He says, “Cody, the good thing is, is the cost per click. The cost per lead is actually going down.”
So a lot of people are hesitating. A lot of businesses are pulling out of their marketing right now. And I will tell you for our business, for real estate, for finding deeply discounted properties, now is not the time to push on the brake. Now is the time to accelerate and actually push on the gas. You can’t grow a business pumping the brake. You must push on the gas and marketing is the gas.
So make sure that your marketing is going out and going out strong. I want you to really think about this. What are you doing every day to market? Because marketing is what allows you to have great conversations with people. Great conversations leads to great appointments. Great appointments leads to great offers or putting the offer out there. Great offers lead to the contract and the contract leads you to being paid.
But where does it all start? Marketing. If marketing isn’t going out and you’re looking at yourself like, “Oh, my business is shut down,” I want you to ask yourself, when was the last time you sent out marketing? How long has it been? Because if marketing isn’t going out every single week, it’s going to hurt your business. Make sure marketing is going out every single week. It has to. It has to go out every week. If not, you’re not having conversations weekly. And if you’re not having conversations weekly, you’re not having appointments. You’re not making offers. You’re not getting contracts and you’re not getting paid.
It starts with your marketing. Marketing weekly leads to all the other things happening weekly as well. You’ve got to be in the game, guys. This is the time to put on that Jersey. Don’t sit on the sidelines. Don’t cheer from the crowd. Now is the time to place that Jersey on your body and get in the game.
Real estate is here. It is a great time to be in it. Our leads are up and with these three simple tips, going back to your database and doing a followup blast, reaching out to your cash buyers see who’s in and who’s out of the game, and then doing some sort of web.
Get that going. Start thinking web. Web’s growth is going to be huge over 2020. This is going to be a huge area. In fact, this is our biggest area of focus right now for growth, because it’s our best ROI right now. It’s been absolutely incredible. So I want you to think about that. Those are the three tips I give you and then simply create more than you consume.
Now is not the time to consume what the news is saying, now is the time to create a better version of yourself. Now is the time to develop yourself, ready yourself, skill up and get ready for the future. Don’t hide from the future.
Don’t allow this to take you off track. Now is the time to see what you’re made of. The world needs leadership. The world needs people that are certain, people that have conviction behind them, people that are working on themselves. The ones that are going to do the best during this time are the ones that don’t forget to work on personal development, because your income will rarely exceed your level of personal development. If it’s been a while, since you’ve worked on yourself, now is the time to push reset, get going.
Now guys, real estate is an incredible time. I want each one of you to understand here at Wholesaling Inc, we’re doing everything we can to make sure those that are right there on the fence post, those that are thinking about what am I going to do? Now is the time to consider getting into real estate.
And our program here at Wholesaling Inc, we have made it right now at this point to where most people, if not everyone listening to this podcast budget can actually make this work. We want to work with those that are out there, ready to go.
Now, it may sound like I’m trying to sell some of this, but it’s because I’m so passionate. It’s so passionate that I want you guys to understand, we’re here to serve. We’re here to help you. We’re here to lead and guide you and instruct you and if you’re looking to get into real estate and you know that right now is the time, I want you to head over to www.wholesalinginc.com, fill out that short little application and hop on the phone with my team and begin to have the conversation.
It’s nothing to be afraid of. It’s nothing to be scared of. You’re going to see individuals on the other side of that phone, serve you with excellence and let you know what it’s all about to see if it’s a great fit. And if so, let’s get you in the community. Let’s get you taking the correct action, and let’s get you in the game. Let’s get that Jersey on your body and get you in the game so that you don’t have to cheer from the sideline or watch from the sideline, but that you’re in the game and that you’re going to be ready to serve a ton of people that’s going to allow you to get a ton of contracts in this time.
Guys, we think about each one of you. We’re grateful for Rhino Nation. We’re grateful for our listener, our faithful listeners that leave amazing reviews and everything going on. Grateful for you guys. May God bless you guys during this time. Get out there, take massive and perfect action. Now is not the time to sit. Act on these three tips and you’ll see your business grow.
And more importantly, if you’re needing that help, we’re here and we have made it to where most people’s budgets are going to be able to afford this coaching program which is the number one real estate coaching program in the nation, helping you find deeply discounted properties.
So head over to www.wholesalinginc.com. Fill out the app and we’ll talk to you on the other side. God bless you guys, and we’ll see you on the next podcast.

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