Posted on: November 25, 2020
WI 566 | Wholesaling Marketing Channel

 

The typical wholesale deal often takes at least 90 days. However, today’s guest did a wholesale deal in just 30 days. How did she achieve such an impressive feat? It all boils down to the marketing channel she used!

In this episode, serial entrepreneur and REI radio coach Chris Arnold interviewed one of his students to find out how she was able to close a deal in just 30 days! They also tackled the exit strategies she has used and what her future marketing plans are, among many others!

If you’re still in the process of figuring out what marketing channel to focus on, today’s episode might just lead you in the right direction!

*For the entire week, we are offering $1000 of the tuition cost of each of our programs, Wholesaling Inc Tribe, TTP, Virtual Investing Mastery and REI Radio.

As long as you schedule your call by or before Midnight on Friday (11/27), when you join, you will still be entitled to the $1000 discount.

The Marketing Channel This Newcomer Used To Do A Wholesaling Deal In Her First 30 Days

Episode Transcription

We’re excited that you show up and join us. If you’re reading, it means you are serious about what you’re trying to accomplish in real estate. I always believe we go so much further and faster when we open ourselves up to learn from other people. Why make all those mistakes yourself? Here’s what I got in store for you. This whole radio thing is super interesting. It’s one thing for me to talk about it, but I find that you need proof in the pudding. If you’re like me, somebody will tell me an idea and I’ll go, “That’s great, but why don’t you try it for a few months then let me know how it goes?” I’ll jump on the bandwagon.

It’s always so important that we bring in students who talk about their success as we’re doing these shows occasionally. It’s one thing for me to tell you about it. It’s my baby. It’s another when we pass that baton to someone else and hear their story and the success that they’re seeing with it. I’m so passionate about radio because I know that the market for 2020, when I started this right at the beginning, was hungry for something new.

We’ve all done RBN, text blast, and cold calling. We’ve been hungry to have something that creates an inbound lead for us, something that brands us as a company. I get super excited because when I’m giving this to other students and you see the success, if you’ve ever done coaching or anything along those lines, it creates the greatest fulfillment because it’s better and more fun to see someone else succeed.

I have Natasha Turner on. I love her energy and her sincerity. You’re going to hear about her radio station. Number one, you’re not going to believe what she’s paying for a month and number two, you’re not going to believe the impact she’s done. I shook my head on it as well. Natasha, welcome to the show. Thank you so much.

Thank you. It’s good to be here.

For those that don’t know Natasha like I do, give us a little bit of background, how long you’ve been in the game, what type of deals you’re doing and all that stuff.

I only got into real estate investing in 2019. I’ve been on radio for a little while, which is something insane to me. I never thought there was any way in the world that I would be on radio. That’s nuts.

What made you feel that way? That’s a good point because a lot of people might go, “There’s no way I could do radio, particularly being the fact that I’m newer to the business.” What made you think that?

I like to hide. I like to be a fly on the wall and learn without talking and without drawing attention to myself.

Coming in and putting the spotlight on yourself for your personality made you a little bit hesitant. Now that you’ve done that, would you change that at all?

Absolutely not. I would definitely do it all over again. I still want to add more stations. The next one we’re negotiating on is a big one who thinks they’re a big shot, so it’s going to take us longer to be more persistent.

What type of deals you’ve been doing and what type of marketing were you doing initially before you stumbled across radio to start making that work for you?

I was doing driving for dollars and Brent Daniel’s TTP program. That was probably a good step up in courage for me to dare to go on the radio. That was mostly all that I was doing before I joined the radio. When I joined radio, around the same time, I started doing some creative financing education. It’s been interesting for these radio leads to be able to use not just one exit strategy but also to be able to offer creative financing strategies for these sellers. We’ve been doing lots of different kinds of deals. Some owner finance, some subject to and some straight wholesale.

I applaud you for that because I always remind people, “Don’t get niched into one exit strategy. Learn an exit strategy like wholesaling, then layer in something like subject-to, owner financing, maybe real estate brokerage. If you want to get a greater return on your marketing, here’s the tip for you. Begin to generate multiple strategies so that when you get a lead, just because it doesn’t fit wholesaling and you think you got to throw that in the trash, there’s a deal there. You just need to reach into your tool belt, pull out something else and apply it.” Sellers appreciate a solutions provider who can help in multiple circumstances rather than coming in and doing one thing. On the marketing channels that you were doing pre-radio, what was working best for you up to that point?

Cold calling was working best for me, but at the same time, it required sitting on a dialer. I’ve had a VA before and it was a foreign VA. I didn’t enjoy that experience. I didn’t feel like I was able to offer my customers what I could when I was talking to them personally, but at the same time, I didn’t like sitting on a dialer for hours on end. I have a lot of energy and I like to be up and about and feeling like I’m accomplishing things.

Good things come out of bad things.

You like to be on the move. Does cold calling work? It does. Years ago, that’s how I built my business. I was calling expireds and FSBOs, and I was smiling and dialing. I’m like you. After a while, it’s like, “I don’t necessarily know that I like sitting here dialing number after number, dealing with the rejection.” If cold calling works for your personality, continue with it, but there are some of us out there that goes, “I can do it. It works, but can I find an alternative way to accomplish getting deals rather than just having to bang out the phone all the time?” You’re shaking and baking. You’ve got a couple of things that were working for you on the marketing side, then radio pops up on your radar. Why give it a chance? Why choose it and what drew you to it?

While I was doing the TTP program, I was thinking, “I need something to boost what I’m already doing.” When I’d talk to Brent, he’d say, “You just need to sit there longer. You need to be doing more to get more deals.” I’m like, “I don’t think I can do that, so I need something to boost it that won’t make me go insane.” I thought, “Even if I can only afford to pay for one small radio station and get started, as long as it pays for itself, that will supplement.”

It’s been interesting to see the turn where I’ve been so busy keeping up with all the radio leads that now I don’t have to sit still so long on the dialer, but it gives me the freedom of time to be able to take time to train someone locally to help me with calls. If each of us only does a couple of hours a day, then it equals up to enough. You add the radio in and it’s becoming this well-rounded picture that’s keeping me running.

I love everything that you’re saying. If you’re reading, I hope that you pick that up. If you have one marketing channel like cold calling and that’s where all your deals are coming from, you do feel strapped to the phone like, “I got to double down to do more deals.” What I hear you saying, which is great is, “I don’t like cold calling as much. It’s not my favorite thing to do.” Radio alleviates the pressure off of that to know, “I’m not doing that solely. I can go in there and work at a level that I’m comfortable with. I bought myself more time because of radio to hire callers so that eventually this whole thing’s outsourced. Now I can focus to get a lot of radio leads coming in as well.”

Now you’ve broadened what you’re doing from your overall marketing strategy. I always tell people, “You should have somewhere between 2 to 4 channels. Any less than two, you’re in trouble because all your eggs are in one basket. If you got more than four, you’re probably half-heartedly doing anything about it. Setting up radio, you come in, you’re a little bit nervous about the spotlight. What is this thing? People always want to know, in comparison to setting up things like cold calling, text blasting or RVMing. On a scale of 1 to 10, 10 being super difficult, 1 being easy, where would you rank the setup on getting your radio up and going?

I would say a two.

Everyone says either 2 or 3. This is the tenth time. I’ve only had one person, come on and say a seven but everyone else is 2 or 3. I had one guy say one and I was like, “You can’t say one.”

I would say two because you guys were so good at giving us exactly what we needed to say, what we needed to look at, and then verifying the information and feedback we were getting. All I had to do was be steady and persistent. Even through the rejection that might initially come, Brent Daniels had prepped me for that. I was used to rejection. I was willing to take with confidence what you said, “Stay persistent and it will work.” That gave me the chill factor where I could sit back and be like, “This is going to work. It’s worked for so many other people. I can just relax into that knowledge and be persistent.” COVID happened, good things come out of bad things. Even though they told me, “No way. That’s never going to happen,” they called me back, “We can give you exactly what you’re asking for and more.”

Get ready for the answer to this question because it made me even a little bit jealous of where my location is versus yours. You’re on a station. We advertise 100 times on a station. Five times per day, Monday through Friday, 25 times a week, that’s a lot of frequency. Can you imagine that? Your message being heard five times a day, Monday through Friday, for an entire month. What’s your budget monthly on radio?

It’s $700 a month.

You have a marketing budget advertising 60-second spots for $700 a month. That’s inexpensive.

That’s what you told me to ask for, so that’s what I did.

She’s like, “I didn’t even know any better. Chris told us to ask for this price.” That’s one of the things why you’re hearing such success on radio. It’s because we come in and buy our radio at $0.25 to $0.50 on the dollar on average. We’re getting it so much less expensive than everyone else. That’s why we’re going to see a great return. $700 a month and you’ve been advertising for a little while now. You made the off comment like, “I’m handling all the calls that are coming in.” Some people are like, “Really? Off $700?” How many deals have you closed in the first five months off of radio?

I’ve closed 7 and I have 4 more in escrow or with an agreement signed already.

Seven closed on the books, another four in escrow pending off a $700 budget a month on radio. How has this changed your business?

For me, it’s given my family and me a lot of peace of mind because where I was stressing out a lot before, and it was emotional ups and downs, “I don’t know if I can do this,” now we’ve got the steadiness that allows me to let my mind relax a little bit so I can start working on the business some.

This is the way I like to view radio. It’s an automated machine that you set up that you don’t worry about managing. It’s set it and forget it. All it does is make your phone ring and all you got to do is pay your $700 bill a month. Is that accurate on how radio works once it’s up?

WI 566 | Wholesaling Marketing Channel

Wholesaling Marketing Channel: Even if you can only afford to pay for one small radio station and just get started, as long as it pays for itself, that will supplement.

 

Yes, it’s accurate.

You said the other thing’s stability. People ask me, what is my favorite thing about radio? There’s a ton of stuff that we could hit on. I like the fact that it’s dependable. I’ve been in the game for many years and I don’t like anything that puts me on a roller coaster ride, whether that’s revenue or emotionally. I look for simplicity and stability because I want to work, and enjoy what I do and enjoy my life. A roller-coaster ride in a business will steal from your personal life and your family. I feel like the expression I see for you is letting your breath out and going, “I got room to breathe a little bit as well.”

If you’re reading and want to see Natasha and us having a good time, you can always go and subscribe at Chris Arnold – Real Estate. We drop additional content over there as well. Let’s talk about one of these deals. I asked you, “What’s one of the more interesting of the seven that you did?” You go, “I got one. This is an interesting story, how it started off and how it turned out.” Tell us about a particular deal you’ve closed off of radio.

My favorite one still so far is the first one that I did. It taught me a lot. The owner called me out of nowhere. It was the first one so I was super excited. I’m like, “This is so wild. Someone listened to my radio ad. I can’t believe it. I’m famous. This is so freaky.” He started asking me, “Tell me about what you guys do.” I started the whole spiel of how we can save you closing costs, “We’ll cover this and we’ll cover that. You don’t have to worry about anything.” Automatically, all his defenses went up and he’s like, “I know who you are. You’re one of those shysters that take advantage of people.” Click.

You’re surprised.

I messed that one up. I was like, “Let it roll off.” Two or three months later, I was walking a property with a friend planning for some development on it. The phone rings and it’s that guy.

He called you back.

I’m like, “I know this phone number. This can’t be right.” He was being so nice to me. He was telling me his whole life story and he was friendly. I’m like, “I must have this wrong.” I said, “We talked a few months ago.” He’s like, “Yes. I probably wasn’t nice to you. I was having a hard time.” He told me the whole story.

This is what’s interesting about this. You had an automated follow-up system in place because the automation was the fact that that guy hung up, but he kept hearing you every day on the radio. When he called you back, he called back off of the radio spot.

Yes.

I want to paint a picture if you’re reading. Let’s talk about direct mail. Here’s the difference when it comes to frequency for radio via automation. If you have a direct mail list, the question I ask people is, “How many times are you going to send that same piece of direct mail to that seller before you come in and restack your list?” You’ll get some answers, but you’re never going to hear someone go, “I’d mail them 50 times.”

Radio does that without you having to do any work because you’re hitting that same seller with that same message again and again. You were able to send a direct mail card to that seller for years and years to come, but you can’t do that in direct mail. You’ve got to keep bettering the list. That’s how I feel about it. That’s why in a situation like yours, your message was automatically creating follow-up, and then the guy responded. You pick up the deal. Tell us about what type of deal and profit it is. Everybody likes to know. Let’s talk some numbers here. What’d you see happen?

It was a house in one of Lexington’s best neighborhoods, which is our biggest market nearby for us. That freaked me out a little bit. I was like, “This is over $500,000 house. What if I jack this up? These people are so rich and fancy.” I went over there and talked to him like a person and listened to him about his story and everything that was going wrong in his life. I was able to connect with him over the silliest things. I noticed he had a big collection of Legos in the corner, so we got talking about that. His basement smelled like donuts because he worked at Krispy Kreme. I became human to him.

I let him become human to me, I became human to him, and I let him tell me what he needed. In the process of that, his defenses went down and he was open to owner finance. I told him, “You are right. Cash offers aren’t as good as putting it on the MLS,” but he didn’t have time for that. I was honest with him. “That would be offensive, but there are other ways I can help you.” He’s like, “Tell me about that.” That’s when we talked about possibly owner financing. He’s like, “What does that look like?” I said, “You tell me, what do you need?” He’s like, “Okay.” He started coming up with some ideas, then we worked back and forth and he signed a contract.

How did that feel?

We ended up going back and he came down on his price if I did a little bit of a deposit, so that was cool.

Radio is just super cool because there’s a lot of variables to play with.

Some might not be familiar with seller financing. The question I always like to ask is, what’d you make on the deal? What were you able to pull in on that deal profit-wise?

$16,000.

That’s a good size deal off radio, particularly the fact that you’re just spending $700 a month. With that deal, I’m not going to be that quick of math in my head, but that’s fundamentally paying off radio for that station for a long time. Everything you do on top of that is just pure profit into your pocket. I always tell people this. People ask about radio. “Should I use radio for owner financing or buying on terms, for fix and flip, wholesale? I’m a rental person. I’m trying to build a rental portfolio.”

It doesn’t matter your exit strategy. We all have one thing in common: we need a distressed, motivated seller to call us and present us with an opportunity. You can tack on whatever exit strategy you want. Natasha, you’re a great example of that. Name some of the exit strategies that you’ve used on your radio leads so far. Seller financing, what else have you done?

I’ve done lots of straight wholesale assignments. I’ve done some subject-tos and a couple of laying contracts. I don’t know what they call them in Texas, but that’s what they call it here in Kentucky.

You’re able to come in and take one source and do multiple exit strategies on it. This is the thing. If you guys don’t know about our ads, we’re all fundamentally saying the same thing. You don’t have to come in and talk about subject to or these things. It’s the fact of like, “You have a challenge as a seller. We know what those pain points are. If you call us, we’re going to listen. We’re going to have a solution for you, take great care of you and do that with convenience with the close as-is, cash offer and all that type of stuff as well.”

Even though we’re a small market, Lexington is number 62 for marketing in the country and Dallas is way up there. There is another REI Radio student in my market. He’s on three stations and I’ve still been able to do these many deals. Thank you.

Good job. The way that we have built up radio is small markets 1, mid-markets 2 and large markets 3. It’s great because radio can be big. In Dallas, you could put a ton of people in that market and we never bump into each other. Great job on the fact that you have another REI student, both of you guys are in your market, you’re on different stations, and you guys are still creating great lead flow and opportunities for yourself as well. I love all of that.

Let me ask you this. You’re now looking at radio. You spent $700. The first thing I thought was, “You need to go out and buy another station with those types of returns.” How is this changing the future as you’re looking about your marketing? Do you want to go do more radio, want to continue to cold call and want to add something on? How has this shifted your vision about your future when it comes to your marketing strategies?

I definitely want to add on more radio, but I am holding out for one of the best channels in the area that my friend has still not gotten onto either. It’s a race and I’m going to win.

To see who can get there first, you want to come in and tack on another big station. That’s when you guys know there are all shapes and sizes of stations, and so forth. Radio is super cool because there’s a lot of variables to play with and genres of music, talk versus music stations and all that type of stuff, which is super cool.

Our responsibility as a community, particularly me as a coach, is to bring you the best I have. Radio is one of my biggest secret sauces. I knew it was a perfect time to start talking about it because there’s virtually no competition, extremely affordable, a set and forget. I was like, “I know people like Natasha, if they’re given this tool, they’re going to rock and roll with it.” That’s what we’ve done. I’m super excited to see how this tool is changing the game for certain people. If you’ve been reading, I want to continue to let you hear our students. I’ll tell you it’s great, but Natasha will tell you it’s great as well.

It’s a small market, so everybody’s been hearing, “Natasha’s on radio.” I go to church and people are like, “I heard your ad the other day.” Other real estate investors are like, “You’re on the radio? How did you do that?” I tell them about your program and they’re always trying to think of ways they could do it on their own and circumvent it.

I talked to this older real estate investor and he’s like, “We were on radio and it didn’t do anything. It was no good.” I’m like, “They got the secret sauce. You got to do it the right way.” There are lots of people trying to shortcut it, but when you follow exactly what you guys said to do and all your special trade secrets, it works, it is successful and you do make a profit. That’s the important part. These other guys maybe know somebody who knows somebody on radio, but when you’re not following the formula, you might not be profitable even if you’re on the radio.

I love that you said that. That brings joy because what I gave you, Natasha was my years of experience. Rather than you trialing and erroring and losing money, came in and said, “Here’s exactly the way you set up all these variables.” What’s funny, though, is I get interviewed on podcasts quite a bit and I’ll have the occasional person go, “I tried radio, but it didn’t work for us.” The people that even try to go after it don’t even know how to do it properly, so they walk away and go, “It wasn’t profitable.” You have a marketing channel, but then there’s a specific way to work that channel.

It’s why TTP with Brent Daniels works. You can cold call, but Brent is going to show you the most sophisticated, has the well-timed, simplistic and efficient way to do that. We’re doing the same thing on radio. You can try it yourself. I’ve had people crash and burn and it did not work for them. I’m giving you ten years of experience doing that. Book a call and see if your market is open. I know we’ve sold out a lot of markets at this point. Sometimes it’s only 1 person a market, 2 if it’s bigger, 3 if it’s large. We have some people come in and buy out the whole market themselves. You have the opportunity to draw and motorize stuff if you want to pay for it. It’s totally up to you.

WI 566 | Wholesaling Marketing Channel

Wholesaling Marketing Channel: There are lots of people trying to short cut it but when you follow exactly what you guys said to do and all your special trade secrets, it works and it is successful and you do make a profit.

 

Go to WholesalingInc.com/reiradio, book a call, and jump on some markets before we end up filling up. At that point, Natasha, I’ll be bringing in my second value piece to the community as well. I’ve kept quiet for over fifteen years, Natasha. I haven’t talked about everything that we do in our business. It’s exciting for me to come out and show people what we’ve worked on that’s going to be valuable for them.

I’ve already sent a bunch of people your way.

Thank you, Natasha. I love it. Wrapping up, one last question for you. There are some people reading and they’re like, “This radio thing is not going away.” Chris came out, I was talking about it, and I was like, “It’s going to come and go.” Now I hear student after student. Someone is still on the fence at this point and It’s a good fence. It’s like, “I’ve been processing this thing. Should I consider implementing this in my business because I want to be making wise decisions? I got a family. I have a job. I’m working.” What would you tell that person about radio at this point?

I can’t tell you what to do with your money, but I will definitely say it was a good investment for me. As long as you have 1 to 3 months of savings saved up for your bill, you should jump in and do it. It took me one month to get my first deal, but I’ve heard some other students say it takes three months. As long as you have that cushion, you should be able to breathe.

In your case, that would have been $2,100. A lot of people have that in their pockets. Thank you, guys, for reading. We always appreciate your showing up. Natasha, I’m so proud of you. I loved your style and your personality. I know that you’re in the game for the right reason. I love that you took this tool and you’re rocking and rolling with it. You’ve been a phenomenal student. I want to give you some praise and some shout-out. To the rest of you, thanks for joining in. Until next time. We will catch you soon to add more value. Talk to you later.

Important Links:

About Brent Daniels

Brent Daniels is a multi-million dollar wholesaler in Phoenix, Arizona… and the creator of “Talk To People” — a simple, low cost, and incredibly effective telephone marketing program…

Also known as “TTP”… it helps wholesalers do more, bigger, and more profitable deals by replacing traditional paid advertising (postcards, yellow letters, bandit signs, and PPC) with being proactive and taking action every single day!

Brent has personally coached over 1,000 wholesalers enrolled in his “Cold Calling Mastery” training, and helped 10,000’s of others who listen to him host the Wholesaling Inc. podcast, watch his YouTube channel, and attend his live events…

A natural leader, Brent combines his passion for helping others with his high energy, “don’t-wait-around-for-business” attitude to help you CRUSH your wholesaling goals as quickly and easily as possible!

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