Posted on: December 09, 2020
WIP 576 | Wholesale Deals

 

Ever wonder how effective radio is as a marketing channel? Today’s awesome couple did 9 wholesale deals in just 4 months! In this episode, they’ll share what their experience has been like and how they made it all happen.

Christy and Jake Booher are students of REI radio. Unlike other couples, they’re willing to go the extra mile to make their business partnership work. Case in point: they even took behavioral tests so they’ll know how to work better as partners!

If you’re running a wholesaling business with your significant other and would like to know how to make things work and if radio is an option you can look into, this is one episode you shouldn’t miss!

How This Married Couple Did 9 Wholesale Deals In Their First 4 Months

Episode Transcription

I’ve got a little special treat for you. Some of the people out there reading are in a dynamic where they are doing real estate investment with their spouses. The couple I have on will add some value around a few practical things that they have done to manage that dynamic. If you are not married and you are like, “I don’t know if I want to learn about that,” check this out. They wrapped up 0 contracts already in 10 weeks on radio, and they are brand-new.

The second piece we are going to deliver to you is their story on the radio. How in the world do you get in the first four months of starting in business as a married couple, that’s another dynamic, and throw down nine contracts off the radio? Plus, they’ve got some other ones. They have been doing other stuff. That’s what you are going to catch in this episode. Let’s get into this. Christy and Jake Booher, students of REI Radio, welcome to the show. I’m glad to have you guys.

Thanks for having us.

For those that don’t know you, a quick backdrop, where are you located? How long have you been married? What type of real estate are you doing? We know you have been doing it for months.

We are located in Columbia, Tennessee, which is about 45 minutes South of Nashville. Our market is Nashville and the whole middle Tennessee area. We have been married for thirteen years. We just moved to the Nashville area. Our backstory is I was in law enforcement for fifteen years, and she was working at the church as a Worship Director. I transitioned out of law enforcement. I was frustrated with the cap on money I could make. I also felt like my purpose was getting further away from helping people on the street because of my position.

We transitioned. I ended up getting a job as a Construction Manager from a friend. I fell in love with the small business. I’ve got to see the inner workings, see how powerful owning your own business can be, and the freedom it can bring about. We started praying for God to reveal a business that we could do together. We have always felt strongly about working together, and he did it. Real estate started coming at us. Through Instagram, things started popping up.

We started diving in. We read Rich Dad Poor Dad. Since then, our lives and mindsets have changed. We started reading blogs like Wholesaling Inc and reading a lot of books. We are like, “This is it. Let’s do this thing.” We’ve never got any traction in San Diego. We dabbled with some things. Other than that, once COVID hit, we were feeling the draw to come to Nashville. We said, “Let’s pick up. Let’s take equity from our house, let’s live, and start this business.” At that time, we had already become students of REI Radio. We knew that this was a great marketing channel and we felt confident that we could make this thing happen. We did, and we’ve got here. She started negotiating with the radio reps and crushed it.

As a couple, the initial vision was that you could do something together. It wasn’t like, “We are going to go do X. Maybe we should do it together.” It’s like, “We are going to do something together. We need to figure out what that is.” You started with this vision of running a business together, which I love. If we are having a real talk, we probably know that most of the people working together as married couples, the ones I do, that’s a challenge.

WIP 576 | Wholesale Deals

Wholesale Deals: Knowing each other can keep us moving forward without getting bored or angry at each other as much as possible.

 

It’s a challenge for everyone. Some do better than others at navigating and making it work. I want to jump right into some meat here on three things we talked about that you have begun to execute and move on in this initial phase that you are working in. The first is you said you took the time to do some behavioral testing like Enneagram, DiSC. Why is that valuable? Why should couples consider doing that?

Even though we have been married for many years, we didn’t know how many aspects annoyed me about each other. He and I didn’t know how to act at work. We didn’t know what responsibilities we would take on and that kind of thing. It was a way for us to learn more about each other and how we do work. How do we do in a job situation and make those work? What are our strengths and weaknesses? What are we interested in and not interested in? That way, we can keep moving forward without getting bored or angry at each other as much as possible in any way, and learn the little nuances that we didn’t necessarily know from day-to-day life.

Behavioral style testing fast tracks our understanding of other people. For us, as an organization, we will not hire anyone without assessing them. Before we even do an interview, if you look at our job postings for positions in our company, it says, “Do not send résumé. Click the link below and take this assessment.” We realized that 90% of what we need to know about a human being is underneath the surface and the 10% that iceberg above the surface is what’s going to come out in an interview process. That’s why interview processes are flawed.

I want to resonate with you. If someone said, “Chris, what do you feel has impacted your marriage more than anything that you have practically done?” My top three would be the fact that my wife and I have sat down and taken about every type of assessment that’s out there. Let me know if this resonates with you. I used to get frustrated at my wife for a particular thing. Let’s say, in her situation, she’s an introvert. We know introverts are slower in their decision-making. If I want my wife to make a decision, I need to give her time. I’m a driver, and I always know what I want to do immediately.

I used to think that was a problem with my wife. What the assessments told me is a genre or a category of the way a certain aspect of the public works rather than going, “This is a Jules thing,” I realize, “This is an introverted thing.” It went from not being personal to understanding that’s the dynamic that exists within people. Do you find that once you understand that, you realize, “She’s not just doing this to annoy me. This is the way that her brain is wired?” Do you see that?

Totally. The big thing for me is she took the test first at her old job and turned out to be a six. I didn’t know anything about it at the time but she brought all this literature at home and explained it. The joke is there’s a committee in her head to make decisions. She’s got to go around and through you.

That’s a great way to put it.

I was like, “After eleven years of marriage, I get it now.” If she asks me a question, I don’t need to come in and solve a problem right away because I have the answer. I have to allow her some time to think about it.

It’s important to take more than one type of test. When we took the StrengthsFinder test, out of our top 5, our top 3 were the same. They are in a different order but they are the same. When we take the Enneagram, we are worlds apart from each other, totally different spectrums. It’s important to take others like DiSC. I don’t even know all the other ones that are out there.

Owning your own business is powerful, and it can bring you freedom.

They all teach you something different. If you are reading, I’m going to rattle off some of the ones that have been most packed for me. We have named Enneagram. You can find all of this online. StrengthsFinder is a great one. Another one is called CORE MAP, which shows your response under stress, which is valuable. There’s the Kolbe Index. That’s another value one. Those are a few to look at and get started, which are important for people to consider.

I’m 100% on board with this first principle. I’m letting you know this was a game-changer in my relationship with my wife. It’s important in your partnership and your marriage. Let’s go to number two. Time blocking, when you talk about business and when you don’t. When you live in the same household and are together 24/7, and your office is under the same roof as the kitchen table is with the kids, what have you learned here? I thought this was a nice little practical tip.

With me, my mind is always going. I’ve got ideas while we are sitting down at the dinner table. We’ve got three kids, and it can be chaos. I want to talk to Christie about, “Here’s this deal. Here’s what’s going on.” She’s like, “Stop. I’m not taking any of this.” She came up with the idea. She’s like, “When you have an idea, you’ve got to email it to me.”

We have our separate emails under our company name. I will email her an idea. It’s something where we need something is done or the details about a property. She will check her email every morning, and I will check mine. It’s weird to think like that because we are in the same house and can talk to each other but it’s a way to separate ourselves from the home family environment and the workspace.

What I hear on that, which is super interesting, is that you have created a solution that helps both of you. Christy, in your mind, you are like, “This is time with the family.” You are trying to tell Jake, “We are not talking about business. We need to hear about the kids’ days at schools.” The challenge is, with Jake, like any guy that’s a driver, it’s hard to turn it off. You didn’t say, “Don’t talk about it.” It’s like, “You don’t talk about it but here’s how you get it out of your head. Email it so you can get it out. That will allow you to refocus back on the situation.”

For guys, unless we somehow express that, it’s going to keep moving around. It was such a creative and practical solution in navigating by creating some great guard rails within your business. Lastly, let’s talk about or OrgChart. This is what you see as the next step for you within the process of working together. I know you pulled this from Michael Gerber’s E-Myth. If you have not read The E-Myth Revisited, it’s a top-five foundational read for entrepreneurs. Talk about what you are working on.

I had a bit of an a-ha moment when I was reading that book. He explains how he was helping this business create an org chart and figure out every hat within the business. Even though two guys are doing it, like us, we have to figure out everything we are doing, taking calls, going on appointments, sending contracts, and figuring out which one of us does it so that we know everything in the business is taken care of.

WIP 576 | Wholesale Deals

Wholesale Deals: It’s important to take more than one type of behavioral testing.

 

Once we see that, we can start seeing what we don’t like, maybe the first hire, something to get off our plate if we don’t create any type of organization like that and get things written out. It’s all up here. If I don’t explain it, it will create a lot of chaos as we go on. Since we are new, it’s imperative that we start this, get it done, and on paper to see it and start mapping it out.

It’s the back and forth, “Do you do that or do I do that? What does that fall under because I’m not sure now?” If we talk about it, we have it all set up, own it, and know what to do.

We have a principle around that in my business, and we call it always to appoint a point leader. You never walk away from a task or anything that needs to be done, particularly when dealing with the group leader, without going, “Who’s the point leader here?” Sometimes you might have 2 or 3 people that need to walk away and work on that particular thing.

We always say appoint a point leader every time. That’s great as well. Christy, talk about how you have divided up the business, a bit of the difference in your personalities. Who’s more of the visionary driver? Who’s more of the integrator of detail? Based on your behavioral style, who’s primarily doing what versus what in the business? What’s that look like?

Jake makes all acquisitions. Every call that comes in from the radio he answers. He sets up all appointments, goes out on those appointments. Sometimes I get to go with him, which helps with the disposition side, which is what I do. I handle all of the marketing aspects of selling the homes. In between, he does all of our books, keeping track of expenses and that thing.

When we are doing flips, it goes back to me for design and he is construction. It goes back and forth. We are in-between on, “Who’s going to own it a little bit more as that grows? Will I start being more of a construction manager talking with all the different subcontractors?” We divided it that way, and that’s what’s working now. We are not sure that’s going to work forever.

It will evolve from the starting place. If it’s not evolving, you are not getting sharper. If I was a reader, I’m curious who’s responsible for what. We are also saying that because Jake and Christy do it this way, it’s based on how they are wired, which goes back to the assessment. I could be talking to another couple, and it could be completely reversed from the gender standpoint. It depends on brain wiring around this.

Do whatever you need to do to get business coming in.

I love that you shared this. I don’t hear this being talked about as much. When I had you on, I was like, “We’ve got to hit on this.” We’ve got to talk about the dynamic of working together as a married couple. I salute both of you. Number one, you have the type of marriage that you wanted to create a bond.

Jake, tell me if you find this to be the case. There’s probably a greater bond you will get with your wife because she’s a part of something important to you as a man, which is what you do. You are going to create some incredible memories around this and have a level of sharing that may be a lot of you wish they could have with their wives because their wives are like, “I’m not interested in the business. I don’t care what you are doing over there.” It’s a cool thing that you are going after.

Let’s flip this over to radio. Let’s get this story right. You have been in the business for several months, and you started with radio. Most people start with outbound, cold calling, text blasting or whatever. What made you feel the confidence to start with radio? Why did you go, “This is the best thing to start,” as someone new to the business?

I first heard you on the first podcast when you came to Wholesaling Inc. to talk about this marketing channel. What resonated with me was the inbound marketing as opposed to constantly being on a dialer, constantly handwriting letters, that kind of thing. We had looked at the expenses of direct mail. When I started hearing you talk about the costs and how they are similar, sometimes radio was even less, for me, that makes a lot of sense.

We have three kids. We are trying to design a life for ourselves that I’m not working 8 to 10 hours a day on the dialer. I want to be able to step outside and push my kid on the swing for a little bit, come in, take a few calls, and have a lot of freedom and flexibility. That’s what we wanted. That resonated. I didn’t even tell her about it. We were on 2 to 3 weeks and she’s like, “I heard this podcast. This guy named Chris is coaching on the radio.” I’m like, “I heard it.” We were like, “This is it.” We knew it.

I was like, “This sounds cool, the idea of pulling lists and sending mass mail.” I had worked for nonprofits for several years, and we were always sending out mass mail, marketing pieces, fundraising pieces, all this stuff. It wasn’t that appealing to me. I was like, “We will do whatever we need to do to be able to get business coming in.” When I heard you talk about radio, I was like, “We should look into that.” When I told him, he was like, “I heard that, too. We should do that, too.”

WIP 576 | Wholesale Deals

The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It

That’s the other good thing about having a partnership, whether it’s marriage or not, you get a little more confirmation when two people agree on something. I always found that we can make decisions with my business partner because I always try to soundboard. I didn’t feel like, “I’m over off doing this by myself.” That’s a cool effect.

For people reading, you mentioned cost. You are on two stations. Each station, you are advertising 100 times. That means that you are playing radio 260 second spots per month. That’s a great frequency. What’s this costing you per month to do this new and need to be careful about not spending too much initially?

That’s $1,500 per station. It’s $3,000 total.

That’s less than what I know. A lot of people are starting with direct mail as well, which is key. A lot of people always want to know what type of success you had. I’m a KPI guy. I like to give people real data. You and I were breaking it down. Here’s what I see. You have been on the radio. You didn’t buy both radios at the same time. Did you start with one and then kick on another?

We started them at the same time.

If you are reading, go to YouTube and subscribe to Chris Arnold. You will see Jake pointing over at Christy like, “That was all her.” Christy, you are like, “I’m a negotiator. I’m going to go and lock up two. Why start with one?” Is that what you were thinking?

Radio advertising brings credibility and brand awareness.

Yes. What happened was the way that the Cumulus came out and everything, I knew that I wanted a wider audience. We chose two country stations. The company, Cumulus that owns those stations had two stations. I only had to work with one salesperson, which was an amazing opportunity for me anyway. I love her because she makes it work. It took about three weeks of negotiating with her. I’ve got to go to lunch with her right away and build up that rapport.

You were meant for disposition. I want to congratulate you.

We loved her. She was great. We had a bond right away. The rest of it was over the phone. To be honest, we didn’t have a great connection when we were doing our final negotiation on the phone. There were all these pauses. I left them. I let them be. I don’t know what she said but I kept saying, “This is the price that I want for that ad.” She said, “Okay. I’m going to write it up, and we will see how it goes.”

I thought she was going to have to send it up to her manager. The next day, she’s like, “Why haven’t you signed the contract yet?” I’m like, “We have a contract? Let’s do this thing.” We started a week later. It took a little bit longer to get our phone number all set up and everything. We should have followed your advice and got that set up.

You’ve got to force that number. What we mean by that is we put a unique phone number on each station. We do a vanity number, which means that it’s memorable. It’s something that we purchase that people can remember. You are right. That always takes a little bit longer. Christy, the fact that you’ve got it negotiated in 3 weeks on 2 stations is awesome.

WIP 576 | Wholesale Deals

Wholesale Deals: We chose two country stations and the radio to appeal to a greater audience.

 

People always ask, “How long does it take me to get up on the radio?” I always kick it back, and I go, “It comes down to what’s going on in the head of the student.” You did the most important thing. You listened and built rapport with the rep. That’s why you were able to close fast. I’m curious. Jake, at this point, what you like about the radio, I heard, “Set and forget it.” I want to be able to go out and be with my kid, not to smile and dial all day. What might be another thing at this point you are enjoying about radio from a characteristic standpoint?

I love that the majority of people I talk to that I get to talk to, there’s little negotiation on price. They are motivated. They also get a sense that we are legit because we are on the radio. The only other people on the radio here are big-name realtors. There are no investors that are on the radio. They look at us as a legit business.

They think, “You are advertising on the radio. You must have been around here forever.” Isn’t that awesome, that instant credibility that you get?

Yes. That’s what I love. We average 1.3 calls per day. For me, taking calls by myself and then having to follow up, that’s fine. As we are growing, we are starting to get to the job before we run part. We hope to add another station here pretty quickly. I love the radio, the inbound, and the credibility it brings. I love brand awareness. We want this to be a brand, a company. We spent some time on the logo because we want this to be a powerhouse company.

It’s hard to build a brand if you are a spam artist and utilizing spam techniques. I’m not saying they don’t work. We all agree with text blasting and direct mail work but you are not building the brand. You are spamming people. You are like me. I’m playing the long game. Understanding what’s going to win long-term is the reputation of the company. You are wise, to begin with, the end in mind. It says a lot about your maturity already in the business in the sense of beginning to think long-term because most people are going for the quick thing, which isn’t always right. I love that.

From a statistics standpoint, you have been up for weeks. You have executed nine contracts. You were doing the math on that, which is crazy to me. At this point, you have already closed a couple of deals, pending, and so forth. Let’s take a look at what you have. You closed a wholesale deal already on the books. It closed out for $7,300. You have a wholetail deal that’s pending to close for $25,000, which looks reasonable.

I always tell whoever comes on to be conservative. Let’s go a little bit lower. That’s $25,000. You’ve got another wholetail for $30,000, and then you’ve got a flip that you are doing for $15,000. We are not looking at all nine deals but what’s closed and what’s about to close that we are looking at, the front end of what’s happening. Have you even calculated your dollar-per-dollar return? People are doing the math and going, “Ten weeks, that is 2.5 months. $3,000 a month. That’s $8,000.” If half of that closes, your dollar-per-dollar return is high. How do you feel about that?

It’s fantastic.

It’s good. We love it.

I’m a little jealous. I’ve got to be honest. They are stronger than mine on my dollar-per-dollar return.

During the election, our radio ads got bumped, which is normal. We were okay with that. It gave us a little time to relax and get caught up on things, too. We have only spent over $7,000 and got 80 leads from that. We are $88 a lead.

Being part of a community will help us thrive.

That’s a good number. Your cost per lead is $88. Ours revolves around that $70 to $80 range in Dallas as well. People always like to ask that, and it’s going to vary from market to market. You and I are pretty close on that, which is awesome. I’m super proud of you, the fact that you are in a few months. We had the elections, and we are still dealing with challenges from the economy with COVID. I had to remind myself that you are doing this while we are going through two major things. I always have to remind myself, “They are not even running at full capacity on the radio yet because we are not under normal conditions.” Kudos to you. I love it.

I know how this works. You talk about radio, and then we start to bring people on. What I hear with students and people that join REI Radio is, “I get it. It’s one student after another. This guy is telling us the truth. It’s working.” I always remind people that I was invited into Wholesaling Inc to become a coach, and I wanted to bring you my best. Radio is one of the best marketing strategies I have ever put in place.

If you are interested, go to WholesalingInc.com/reiradio. Book a call and see if your market is open. I’ve got to remind people that we have markets that are sold out. If you are on the fence, I’m being honest with you that we will have all the markets sold out at some point in the future, and that’s going to be it. I will be teaching and coaching on the next thing I’ve got in my back pocket.

If everyone is reading and they are like, “Jake, Christy, I want to do this thing. Everyone deals with fear. Should I do it?” You were talking about the value of making decisions together. Someone reading is on their own. They are infopreneur. They are new to the game or trying to figure out what to do next, and they are like, “Should I do this radio thing?” What would you tell them to help make a decision that’s right for them?

Book a call. Once she heard the podcast you were on, she was like, “I booked a call. Wholesaling Inc is going to call you, Jake, and talk.” I was like, “Great.” From the get-go, all I felt was this passion and energy for this business. It was clear, “I feel like we are going to be part of a community that’s going to help us thrive.” We felt that all the way through.

Even being part of the alumni now with your coaching, I told Christy on the first one I was a part of, “I’ve got more value out of that hour than any other thing that we have looked into.” Book a call. If your market is open and you are looking to boost your game or start, it’s going to blow your mind. It takes time. Everything takes time to get going. Once you get that rock up the hill, look out because it’s rolling down quickly.

It has been amazing. The coaching program, your videos, everything walked us through step-by-step of everything, the language, the jargon, all the different things that we needed to know to sound like we knew what we were doing and to see that we knew what we were doing. We can be quick studies on this, too. I love that we can take your experience, and you are giving that to us and helping us grow exponentially.

It’s an honor to serve you. I want to publicly praise you, number one, for being an inspiration for couples who might be thinking about making this decision to work together. I’m sure for some people reading, this got them thinking about that. Number two, a lot of people out there are like, “For a few months and all the contracts that you have done.” These types of things motivate us.

It’s like, “If they can run at that level, I’m going to go back and consider what I’m doing not just with radio but as a whole in my business.” That is the speed you can move if you get in, focus, and do what you need to do. Thank you, guys, so much for being on the show. To the rest of you, as always, we appreciate you coming on. Until next time, we will catch you soon when we add more value. I will talk to you later.

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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!

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