To take your business to the next level, you need all the help you can get. And yes, that includes using innovative and awesome tools that can make everything effortless and straightforward for you!
Frustrated by all the hassles (not to mention the cost!) of running multiple software, he decided to create a system that provides powerful numbers so you can make better business decisions.
If you’re looking for the consummate software you can use for your real estate business that’s easy to learn and easy on the pocket, this episode is for you!
The Secret Weapon Behind Every Successful Wholesaling Business With Sharad Mehta
These are some of my favorite episodes. I love taking a tool that makes our life and businesses easier but I also like to play the devil’s advocate. I like to pick it apart. What do I like about this tool? What works? It’s always best to do that with my Chief Operating Officer, Cierra. We call her The Queen of Systems. She runs all the tech in our company and she’s the one that gives a thumbs up or a thumbs down in our organization whether or not we decide to move forward with tech, whether we like a product or we don’t, whether it’s going to make our life easier.
On top of that, we have Sharad Mehta. He is the owner of the technology that we’re going to talk about. This is what you’re going to get from this show. We are talking about a piece of technology that is going to get rid of the whole à la carte piece. Here’s what happens in the industry. Everyone comes in and creates small solutions. Dropbox is a solution, an email system is a solution, Driving for Dollars is a solution, DocuSign is a solution. What happens when all of a sudden you have ten different systems? It gets expensive and then you got ten different logins. This all becomes a pain.
Luckily, someone like Sharad comes along and goes, “Let’s create a one-stop-shop for everything. Let’s do it at an affordable price where it saves money and makes life efficient for everyone.” We’re going to pick this bad boy apart. Here’s why you’re going to want to read because this is a game-changer. It’s a game-changer for my business. It’s a game-changer for the people I know who have signed up for it.
I can honestly say that Podio is slowly going to the wayside because it was not built for real estate investors. It’s a generic CRM system or a Contact Relationship Management system that is getting outdated for what we needed to do. Cierra, let me ask you this question, there are different CRMs and different stuff out there. Tell me what it is about REsimpli being a business in a box that you like so much. Why are you excited about this?
It’s every system combined into one place. You have a call system. No more CallRail or TeleTracker. You have a signing system. No more going into DocuSign. There are ways to do property management. You can manage the properties, the rehab, and all of that in one place. It’s huge. Remembering ten different logins and having to jump from system to system, and when one breaks down, what are you doing? You’re trying to find what’s disconnected and what’s happening. This is one place. Everything is there. You jump in, you do your business, you jump out. It’s a one-stop shop and it has everything you need to run the system from the front end to the backend.
What happens when you take something running ten different systems and you move over to a system that does everything for you? We call it an end-to-end user experience. What could someone see happen in their business when that occurs? There are some obvious things like it’s going to make you a heck of a lot more efficient, but why take the time to do something like this?
The efficiency is the biggest part. Another part is from the management standpoint, it’s much easier to go in and look at somebody’s KPIs, their leads, what are they touching, when you only have to go to one place. It’s not only easier for the user, the employees, the acquisition managers, the callers, but it’s easier for that manager as well to watch the systems and to know what’s happening. They don’t have to go to ten different places to see if phone calls are being answered or if it’s porting properly into your CRM. From the manager’s standpoint, it’s a time-saver so you can focus on more important things, the revenue-generating things.
You’re paying à la carte for every one of those smaller systems. You and I were doing the math as we were looking at that. We had transitioned over to REsimpli and moved everything. How much money it was saving us? Paying piece by piece versus one thing adds up. It’s a big deal. Sharad, we’re talking about your system. People are going to get the real deal here, which is great. We’re also going to be hitting on some of the new features that are coming down.
REsimpli is a time-saver so you can focus on generating revenue.
If you haven’t heard about REsimpli, let me spell out some of the things that it has already. You’re getting a CRM, which is great. You can’t run your business without a CRM at a certain point. Sticky notes will only take you so far. Trust me, I’ve been there. At some point, you’ve got to begin to rely more on technology. Imagine you have CallRail, list stacking, DocuSign, project management, bookkeeping, Dropbox, MailChimp, and eventually things like QuickBooks, which I know that you’re working on. All of those things are in one place, which is crazy that you’ve come in to make that happen.
Let’s talk about a couple of more things you have coming down the pipeline. What’s happening here is you’re going to have Driving for Dollars in this as well. Talk about this because this is cool. How many people are using Driving for Dollars and paying for that separately? I know a ton of people that are. Talk to us about this piece.
To be clear, the Driving for Dollar app will be a separate add-on feature because that cost us money to get data from a third party. Our pricing will be much more economical compared to some of the others. The Driving app will be built into the system. If you’re driving around, take a picture of the house, send a postcard or lead it right from the system. Eventually, it’s going to be a link with the entire system. Let’s say you stand in front of a house, you take a picture, and then our system will tell you, “This is already a lead. You’ve already sent a postcard.” It’s way more efficient. It’s tied into everything.
If you’re already cold calling a lead and you’re in front of the house and you take a picture, you don’t need to send them a postcard because you’re already having a conversation. It’s going to stop you right there and say, “No need to send a postcard.” That’s coming. RVM is also coming. We’re not going to do RVM to your list of thousands of people. It’ll be your drip campaigns. You can send one-off as part of the drip campaigns, pure leads.
Let me stop you right there before you come with the third one because those are two good ones and I want to hit on those. You’re going to get the Driving for Dollars app and the capabilities within the system. I think about how many people obviously are utilizing RVM-ing. That feature is going to be in there as well. Sharad, what I begin to take is I named a bunch of stuff at the beginning that is already mind-blowing that your CRM does all this. Every time I talk with you, you don’t stop. You’re continuing to add more and more features. When does this end? Do you imagine the system is going to do everything we could imagine it to do? How far are you going to take that?
At this point, we have our roadmap laid out. The things that are going to be rolled out are going to be amazing. The exciting part is going to come in when everything is tied in. Imagine going to your accountant and you say, “This is my tax return. It’s already prepared. Can you review it?” That’s the direction we’re going in. With all your KPIs and everybody in your business, you will be able to know where they are the most efficient without you doing anything. No exam is needed. You click a button and all the data that you need is going to be there. I’m excited.
You’re going full automation as much as possible, all the way down to beating your taxes.
I used to be a CPA. I used to hate that like, “I can’t believe I went to school for accounting.” When I look back, it’s amazing that I’m working on something. Our system is built specifically for real estate investors. It’s not like Podio that anybody can come in and use it. If you are in insurance, you could not use our system. It’s not good for insurance companies. It’s built specifically for real estate investors. The amount of data that we’ll be able to give you without you doing anything will be mind-blowing. That’s the exciting part for us. With everything that we mentioned, it’s not even 50% of the way to our full vision of where we want to take this thing.
You’re not even halfway to where you want to take it and it’s already way farther than anything that we’ve understood is on the market that’s available to us. Go to Chris Arnold Real Estate over at YouTube and subscribe. You can always put a face with the name. Why I’m telling you to do that is because I know Sharad. He is an engineer and he’s just chill. When we started talking about the vision, it was the most exciting thing that I’ve seen on your face. I want people to see you. You’re passionate about that. That’s you and your passion, as chill as you are because you’re an engineer. Cierra, let’s kick back over to you. You like this idea of the call flow. Talk to us about this feature and why you see this as valuable to have in REsimpli.
We’ve used CallRail, TeleTracker and GraphHopper. We hop from many call systems. At one point, we had three call systems that we were working out of. That’s because there were certain phone numbers that we couldn’t get ported into CallRail so we had to use TeleTracker. It became a mess. Jumping into one system, the calls slowed down.
At any point, I have to log into three separate systems to check the call flow to make sure things are pushing over. With REsimpli, you can port anything in. You port it in and it’s there. You can call using that designated phone number from your CRM. It’s not going into Podio and going to CallRail to make a call then making your notes in Podio. It’s there. It’s done. The port and process are huge.
Especially like us, we do so much radio. Every station has a new phone number. Every time you get a new station, you get a new phone number. It’s a new port, it’s a new timeframe, and it’s something else to manage. With REsimpli, it’s still all right there. I can jump into one place and it’s there. We can set it to call specific times of days. You can tweak the call flow just like CallRail. It’s comparable in that way but it’s a one-stop-shop because it’s connected to the CRM and that’s important. It’s a time saver from the management side.
If you’re new to real estate and you’re like, “Call flow?” Let me help you understand what this is. If you open up a marketing channel, the first question you’re going to ask is, “Do I have this ring on my cell phone? I’m working from 9:00 to 5:00. I’m trying to get out of the rat race and be a full-time entrepreneur. That’s my dream.” “I hired an acquisition manager.”
If you’re new and just to understand the value of call flow, you don’t have to make a decision. You can constantly change it. You can make it ring to three phones at one time. You can make it ring to one phone and then roll it over to the next phone. You can make it ring on your phone while you’re off work and then ring someone else automatically while you’re at work. Maybe you’re an Uber driver or whatever you’re doing.
You can’t work off in Excel and do real estate long-term or even for the short term.
The technology allows you to solve some of these challenges that you have in your life trying to balance everything out like managing call volume. If you’re spending good money on a marketing channel, you don’t want to lose that money simply because you’re missing opportunities because of the way in which you’re flowing your calls. This is the value. All of these things add up to make your business better.
Honestly, I’ve talked with a couple of investors that don’t even have a CRM. They are using CallRail to manage their calls in an Excel sheet because they don’t want to pay for both. I’ve had that conversation probably three times in one week. That’s crazy to me that you’re relying on something like CallRail, which is a phone management system to give you that data to try to track those calls, and only that. Whereas in something like REsimpli, it’s both. You have to have a CRM. You can’t work off on Excel. It doesn’t work. I want to let everybody know for those of them that are working on Excel and trying to work through a call management system, it’s not an effective use of your time. It’s not efficient. With something like this, it’s a win-win.
I’m thinking about someone reading that’s new to real estate. You’re a bit overwhelmed because you’re like, “People are telling me I need to set this up and I need to do this.” How soon should an investor consider taking the time to get a CRM and begin to set that up?
Immediately. I’ve worked with so many people in the real estate industry. It’s shocking how many of them think that they can work off in Excel and do it long term, or even for the short term. You have to get that information into a system eventually. You might as well do it now. The more contacts and relationships you make, the more information you’re going to have to put into a system, and the more time you’re going to have to spend putting notes and updating information. Why wait? It’s not one of those things that you should push on. It is crucial to have a CRM.
If you’re reading this, let me tell you something. This is a true story. We’re elevating above REsimpli. This is working well for us, that’s why we’re talking about it. Part of the responsibility that you put on us as coaches in Wholesaling Inc is to bring you what we consider to be the best tools. We go out, research, try things, and talk with owners like Sharad.
I ran my business for a couple of years without a CRM. I don’t even know what our system was. It was just to stay alive and not die, and make sure that we’re juggling those plates and we don’t drop too many. This is true, historically. You can go back and look at our revenue, and you will see a spike in the middle of a year. I can’t remember how many years ago this was. It was around June or July. If you would go back and look at that, a Chief Financial Officer would go, “Why did you guys have a spike in your revenue moving forward?” It was because it was the 60-day period that we integrated our CRM.
People go, “How can I make more money?” I always tell people, “If you’re a solopreneur, hire an assistant.” That was one thing that doubled my business because it got me off the busy work and onto the important work. The other thing was implementing a CRM system. Did I like it? Did I enjoy doing it? No. As I look back, I’m going, “I should have done that a lot sooner,” because you’re going to start making more money.
It’s checking those relationships. You have to think about it, a CRM is everything. It’s tracking a relationship. It follows up calls. It’s making sure nothing is missed. If you’re spending marketing dollars and you’re tracking those leads on Excel, you are wasting your money. I’m being completely honest. There’s no point in sending that marketing money if you’re not going to manage your leads correctly. It’s not efficient.
We bought two properties. Both of them came from a follow-up. Because of our system, we could go back. One of the leads came in September 2018. All we did is we constantly kept following up, text message, follow-up and call. The guy finally wrote down and sold us a six-unit building for $5,000. It was close to a university. It’s a pretty rough building. If we did not have a system, we would have a 100% loss out of that.
The deal would have fallen through the crack, which happens all the time. The thing that the CRM system will do is make sure that your follow-up is done from an automatic standpoint. You quit relying on humans, which we are infallible and we make mistakes. We forget to follow up with people, to a system that is infallible for the most part and will follow up like it’s programmed to do. That’s what you see.
This is why technology is changing the world in a lot of ways and most of the time, out-do what a human can do. Follow-up is a great example of that. Sharad, I want to kick back over to one last feature coming down the pipeline. Talk to us about the email features coming out. What can people see coming down the pipeline there as another benefit?
The first version is you will be able to send emails to your lead if you have a lead. What you’ll be able to do is send an email. The email will come out exactly like you’re sending it from your inbox or come from Sharad@REsimpli.com. You will be able to add CC or BCC, attach files, and everything will be saved in your system. Another thing that hopefully should be live is you will be able to manage your buyers within the system. At least with the first version, you’ll be able to upload a list of your buyers. However many buyers you have, you’ll be able to upload that. Eventually, you’ll be able to call them, email them, text them, and do everything that you can do with a lead calling system.
This is replacing Constant Contact, MailChimp or potentially, ActiveCampaign.
With the first version, you can upload all your list of buyers, then eventually, you would be able to send emails to all of them.
Here’s an example to prove a mathematical point. If you’re reading, we’re going to tell you what the system costs. I don’t know how you run Textra but your pricing still blows my mind in the sense of how you make all this work. It seems like it’s so much more in favor of us that are using it. Your systems are $100 a month. We use ActiveCampaign, which is great. We love ActiveCampaign but we have to pay for that separately à la carte because that’s not built out in your system. Cierra, what do we pay for ActiveCampaign alone monthly?
If you do not have a system, you would have a 100% loss.
Because we have so many buyers, we’re paying about $270 a month for ActiveCampaign alone.
We’re paying 2 to 3 times for one à la carte system than what we’re paying for REsimpli as a whole. That’s one system.
If you add in CallRail, TeleTracker, DocuSign, I don’t know how you’re doing it, Sharad. It doesn’t make sense to me.
Sharad, are you making money over there?
I eat a lot of rice and beans. Since I’ve gone vegan, my food bill has been cut significantly.
This guy is living off ramen to give us the perfect system.
The reason why we’re able to do this is that it’s all integrated. It takes a lot of work upfront. We’re only charging for things at this point for the things that we’re paying. We’re paying somebody for the data part of it. If somebody is using us for sending postcards through Driving for Dollars, that costs money. The list stacking feature is free. Because we paid for it once and we don’t have to pay for it again all the time, it’s included for free. If you were using a third-party service for it, we would have to keep paying it all the time. That cost would eventually get passed on to the end-user. That’s how we’re able to do this.
I want to go to one last point. Cierra, I’m going to let you drive it home. If you’re like, “This is cool. This is something I need to go do for $100 a month,” in business, you call it a no-brainer. Mathematically, we know that this is a no-brainer. You guys can always expect that we work with the owner and get you guys some type of discount, whatever that looks like. Sharad has been very generous. With the domain that we’re about to give you the link, you will get list stacking for life for free. That within itself, if you’re paying for that separately, is $100 a month. We’re talking $100 a month off. Also, in your first month, you get an additional 20% off or something like that. This is super nice.
If you’re reading, go to REsimpli.com/Chris. That will get you all the bells and whistles we’ve talked about without additional cost, which is super cool like the list stacking. You grandfather these people that come in now on the system for new things. It’s like friends and family. As new features come down, it might cost additional money. You can get discounts, which is super cool. Cierra, let’s talk about your favorite feature. I know this is like a soapbox for you. Sharad, both of you know about this when it comes to people’s businesses. Let’s hit lastly on this KPI dashboard. What’s happening here? If you’re new to the business, KPI is Key Performance Indicators.
I want to say first when I and Sharad first talked about this, he asked me what I wanted to see in the KPI as well. He was trying to see if he was missing anything. It wasn’t built yet. He was telling me his idea. When I saw it, it was ridiculous. You got everything. It was such a fast implementation. I was expecting it to take months and months because it’s so in-depth.
The reason it’s important is it’s taking all of that data from this one database and it’s putting it into KPIs. You can go in and you can look at your actual lead conversion by source. You can look at your dollar-for-dollar return. I was tracking that on a big metric sheet, which I also showed Sharad. Every single month I’m having to go into Podio, I’m going to have to pull leads, I’m going to have to pull costs. I have to sit there and make sure all the formulas line up and make sense. If they’re off, then I throw the entire marketing budget off. We don’t know what to put more money towards or what to take money from.
I don’t have to look at formulas. If we’re in this KPI system, you log in and it’s taking the formula for each marketing source. It’s telling you what your dollar-for-dollar return is, what marketing source is working, and what your team is doing in terms of their KPIs. Are they calling other leads? Are they doing what they need to do?
It has saved me a ridiculous amount of time having to go into the system and pull numbers manually. It’s a waste of time to know if you’re on the right track. This way, we know ahead of time. As long as you use it right, you’re going to have that data in front of you right when you log in. That’s a game-changer. To watch it from an idea to what you had produced is spectacular. I want to say, great job. That was impressive.
I’ll take that compliment.
That’s amazing. Coming from an accounting background, numbers are everything. I live up here in Canada and my business is in Indiana. My team is all over the country. The only way we know whether things are working or not is by looking at numbers. If you like the KPI dashboard now, wait for some of the changes and things we’re going to add. It’s going to give you so much data about your business. It will be almost impossible to be not more profitable.
That’s great. To sum that up, you’re probably not tracking your metrics and you feel guilty about it. Let’s be honest, the reason you’re not is it’s a pain in the ass to track metrics. What Sharad is coming along and saying is you can’t run a business without them. I know this and Cierra knows this. It will at least going to automate the process so that you can focus your time on analyzing the data, not collecting the data. Collecting data is the last thing I want to do, but I do enjoy interpreting the data and taking a look at what it means because that allows us to grow our business.
If you’re reading, go to REsimpli.com/Chris. That will get you that list stacking for free and the 20% off the first month. Cierra and Sharad, thank you guys for having some tech talk. It’s a lot of fun coming at it from some different angles. I know those reading got a good understanding of a tool out there that can come in and be a game-changer for their business. I’ll talk to you guys later. I appreciate it so much. To the rest of you, until next time, we will add more value and catch you soon.
- Cierra Ford – LinkedIn
- Chris Arnold Real Estate – YouTube
About Chris Arnold
Chris Arnold is a 15 year Real Estate veteran who has closed over 2500 single family real estate transactions in the DFW metroplex. Chris is the founder of multiple companies that are managed by a US virtual team, which allows Chris to run his organizations while living in Tulum, Mexico full time. His passion for leaders has led to the creation of Multipliers brotherhood which serves the top 5% of real estate entrepreneurs out of the US. Most recently Chris has launched his REI Radio coaching program. This program is designed to teach real estate investors the marketing stream that everyone knows about but NO ONE is doing!