Posted on: February 05, 2021

Welcome to the third day of the nine-day do or die series. In the series, Brent will walk Tracy Krol through on how to buy her first piece of land and sell it to the masses at a premium retail price to make it affordable for someone to come in and buy a piece of land on a monthly payment basis and help her accomplish her dreams.

In today’s episode, Brent will share about the mail tool: who, what, when and how — everything you need to know to follow along and get your first land deal step by step and the right mindset to be the CEO of your company and earn a minimum of $500 per hour. Brent will also talk about the importance of delegation and what the Land Offer Letter is and why it is essential to success in the wholesaling business.

Listen to this series on the masterclass on building a Land Wholesaling Business from the ground up. Don’t miss this opportunity to learn!

Key Takeaways

  • The right mindset of looking at expenses as an investment
  • On relying on experts to assess volume in a county
  • How to build the LOL (Land Offer Letter)
  • On using virtual mailboxes as an option
  • The importance of putting a fax number in the LOL
  • The importance of putting an email address in the LOL
  • How to get a conversation on dealing lands on phone
  • Going automatic in doing Customer Relationship Manager (CRM)
  • On using Screencast-O-Matic to let someone do the task in the future
  • On using landofferletter.com virtual company as a mail house to send letters for you
  • Recommended volume of mails per week
  • On using PropStream as a list provider option to get more data
  • The steps in sending out mails via mail house
  • Next steps for Tracy

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Episode Transcription

Speaker 1:
Hey guys. Welcome to episode three of The Do or Die Series with our resonant Land Coach, Brent Bowers and Tom Krol’s sister, Tracy Krol. Now in this jam packed episode you’re going to learn the who, what, when and how to mail. How many pieces per week, what to send, how to send it as well as all the tools, the mail houses, just everything you need to know to follow along and get your first land deal step-by-step. Brent breaks it all down in this episode and you’ll also learn how to become the CEO of your company and earn a minimum of $500 per hour and why delegation is so important. Delegation in this business is everything. Brent’s also going to talk more about the LOL letter, the Land Offer Letter. What it is and why it is absolutely essential to success in this business. This one is literally a masterclass on how to build a land wholesaling business from the ground up. You’re not going to want to miss a second of it. Enjoy.

Brent Bowels:
Hello, Rhino Nation. It’s Brent Bowers and today I have Tracy Krol on the episode. And we’re on episode number three of her nine day Do or Die. I’m walking Tracy Krol through how to buy and sell her first piece of land. We’re getting land at massive discounts and we’re turning around and selling it to the masses at a premium retail price because we’re making it affordable. We’re offering monthly payments and the ability for someone to come in and buy a piece of land on a monthly payment and literally allow them to accomplish their dreams.
So just to do a quick recap with where we’re at. Tracy had a goal of earning $10,000 a month in nine months from starting this program. That is a Herculean task. It’s going to be a huge accomplishment. It’s going to take a lot of work. She’s going to really have to get uncomfortable but it is totally doable. She’s no longer going to have to drive that nine year old car with transmission problems. She’s going to be able to go and see her family anytime she likes by just jumping on a plane and going first class if she so decides and not even thinking about money or car payments. So, Tracy are you there? Are you here with me?

Tracy Krol:
I’m here. I’m excited. I’m pumped up.

Brent Bowels:
I love it. I know you had a lot of questions and we were talking a little bit before we pressed the record button but I just want to kind of recap with where we’re at so far. We’ve covered a lot of ground and today is going to be probably a shorter episode. I think the absolute most important and it’s getting your mail out the door because we want to get our letters in the hands of people that need us, that need to sell their property, need to get rid of this burden, they’re behind on the taxes, they’re about to lose it.
Some people are just so happy that they get this offer letter and they actually get money in their hands because they’re so far behind on taxes they can never pay them up. This is going to help a lot of people. Let’s talk about where we’re at so far. You’ve picked your playground. That’s your county you’re going to be working your land business in. You’ve gotten your gold list which was the tax delinquent list and you built your Excel spreadsheet of the sellers, of the landowners that need to hear from us.
And then today we’re going to be talking about the Land Offer Letter. The LOL is what I call it because when people receive it sometimes they laugh out loud. When every time I get a fax back or an email back or they mail it back to us with a signed accepted offer at a massive discount on their land my team usually laughs out loud. Tell me how’s it going? What’s the questions? I know you were talking with some friends. It’s been a long couple of days since we’ve talked. What do you have Tracy?

Tracy Krol:
So essentially up until this point so I will say I’m a teacher so I’m a good student. If you tell me to do something I do it until up this point honestly, it’s been really easy. Because you’re like call up some counties, get a list, edit the list. I was able to do that pretty easily and feeling really good about myself. But now that we’re moving to the next step I’m a little nervous because I’m going to have to start investing some money with these-

Brent Bowels:
Yes.

Tracy Krol:
… Rules and so I was talking to some friends and they’re like, “Is this a pyramid scheme? Are you just like spending all this money and then not get anything in return and someone else is getting rich off your dime?” And I was trying to explain to them that it’s not. But then I also found that I was just feeling so kind of down and cynical about the whole thing again.

Brent Bowels:
Yeah and it happens. I would tell my friends and family what I was doing when I was first starting this. And one day I just stopped doing that because I found out there were different parts of their lives. They’re not entrepreneurs. They were W2 employees working for somebody else being told what to do every day and getting a check every two weeks. And I can assure you it’s not a pyramid scheme because those are illegal and there’s no hierarchy whatsoever over you. And at the end of the day we’re just sending letters to people asking them if they’d accept our on their land. We’re buying it massive discounts and turning around and finding buyers that want this land. And they can’t just go and pay for it all at once or purchase it from a realtor or a bank won’t loan them the money.
So we’re literally offering them the land and the financing. So it’s a very simple strategy. And you have been an amazing student and kudos to you. So it is about to get uncomfortable. Absolutely is because when you start spending money on mail and sending these letters out it’s very uncomfortable. And at the end of the day let’s track the data. Let’s keep up with how many dollars we’re spending, how many letters we’re sending out and then how many accepted offers we get because at the end of the day it’s all about the data not the drama.
Don’t get emotional about this. Just know this is an investment. Every single dollar you spend is going to bring you back $3 or more. So I look at it that way. Every time I hire a new team member I don’t look at them as employees or an expense. If you’re looking at your team or your mail as an expense, you’re in the wrong mindset. And if employees or your team members start to cost you money, they are an expense. They’re no longer an investment. So we look at this all as an investment. This is spending a dollar today to make $3 tomorrow. So what else? What other reservations?

Tracy Krol:
So then yeah. I guess just coming down to the list and making sure that what I am mailing is the right area or like knowing that I found a place to mail that’s going to make that $3 on my one. How do you really feel comfortable knowing like, “Oh, I found the right place.” Or does that not matter at this point?

Brent Bowels:
It does matter. You don’t want to pick a bad county and I haven’t really come across bad counties. The way to mitigate that risk is you want to kind of know what’s going on in that county. You want to see volume. How do we tell if there’s volume? We go to the experts once again. Kind of a recap from the last episode I never want you to be the expert. I don’t want you to be a property appraiser understanding the ins and outs and the experts or Realtors, Zillow and the land sites. The land site is like landwatch.com, landflip.com and landcentury.com. So I want you to be able to see volumes happening in these counties.
So how do we see volume? I want to see sold at Zillow. I want to see stuff that’s actually for sale and listed on Zillow. I want to see stuff for sale in this county on landwatch.com or landflip.com and landcentury.com. If you see volume you’re fine. That’s it. Let’s not get so glued into this. We are full volume. We’re seeing what’s happening and by us seeing what’s sold and what’s for sale we can figure out what that land goes for at hard retail price, where it’s sold for and then we back out.
We basically reverse engineer it or backwards plan it. We see what we’re going to offer. So if we’re trying to offer 30 cents on the dollar and we see the land is going for $100 an acre, we’re going to offer $30 an acre. And if we get a fish to bite on that we know we’ve got a deal. And 99 out of 100 people you mail are absolutely not going to accept your low-ball offer. So we need to understand that. Really it’s about 199 out of 200 are not going to accept it but that one person that needs our help or they want to sell at a fast discount or be convenient about it and just get it done quickly. They’re not going to care. It’s not about the money it’s about solving the problem. Does that make sense Tracy?

Tracy Krol:
It does. Yeah.

Brent Bowels:
Any other questions before we get started on the action steps today?

Tracy Krol:
Nope. I’m ready.

Brent Bowels:
Today building the LOL, the Land Offer Letter, we’re filling in the blanks. So I sent you the Land Offer Letter and I know you had a copy of it. First thing is you want to put your name on there. Some people have reservations. Do I put my name? Do I have to go out and get an LLC? In the beginning I didn’t worry about an LLC. We made almost about a hundred thousand dollars in land before I had an LLC. I’m one of those people. I want to get revenue in the first position. I want money to come in before I start spending too much. Obviously we’re going to have to invest some money but I want to keep that as a minimal investment. So you can make that decision yourself. If you have an LLC or if you want to use an LLC most States you can go online to the Secretary of State and get one for 50 bucks.
Or you could hire an attorney and they charged 250. It’s your choice. Or you can just put your name on there and start making some money and then eventually hire an attorney to do it. So that’s up to you. How you want to do that. Obviously talk to your attorney about it. They’re probably going to recommend an LLC kind of keep you safe with that. Next is phone number. You want these people to get a hold of you if they want to. They want to talk to you. A lot of people will think this is a scam. Like, “Hey, you’re offering me money for this. I’ve never even stepped on this parcel land. How do you know on your owner?” Like a lot of people will want to talk to a live person. So I get a phone number and I don’t put my cell phone number on it.
I don’t put my home phone number on it. I don’t know. You might not have a home phone number. I don’t think anybody does anymore but I buy a phone number from CallRail. They’re $3 a phone number and each mailer I send out I have a different phone number for each county and that allows me to get the actual local area code for that county as well. Does that make sense with the phone number?

Tracy Krol:
Yeah, I was going to ask about that because I didn’t want to put my cell phone but yeah that makes sense.

Brent Bowels:
Absolutely never put your cell phone, never put a personal number on these and then that leads me into your return address, your mailing address. Never ever put your home address as return mail. I would go buy a UPS box or a post office box or shared spaces oftentimes will allow you to use their address, coworking interior spaces. I think my UPS box costs me a hundred and something dollars a year. We also have our office but I don’t even put my office return address on there because I don’t want people showing up. Like there some crazies out there and sometimes people get very offended when you send them a low-ball offer. I haven’t had anybody ever show up to my office or my house but I don’t want that to ever start. So I don’t put my return address as my office or my house. I use a PO box, I use a UPS box… Actually I use a UPS box. I suggest the PO box or UPS box for that.

Tracy Krol:
And is that… That’s pretty easy to set up because if I wanted to do my mailing today I would need to know what that address is, right?

Brent Bowels:
Yeah, absolutely. It’s very easy to set up. If you’ve got a local UPS store or a FedEx store or a coworking and shared space or the local post office. The local post office is probably going to be the least expensive.

Tracy Krol:
Okay. But it’s probably the scariest especially in Baltimore city.

Brent Bowels:
Oh my gosh, yeah. And there’s some virtual mailboxes. You can literally just Google virtual mailbox and there’s some out there. There’s one that’s called Phoenix mailbox. I’ve never used any of these. However, I have some other friends in the land business that use these virtual mailboxes and they swear by it. They actually scan everything they get back in the mail. So you never actually had to physically touch it either. So just Google virtual mailboxes.

Tracy Krol:
Okay.

Brent Bowels:
So I gave you a lot of options there. So that’s kind of what your personal preference. I do not like to touch mail ever. I cannot stand mail. So I actually have my office manager go and pick it up from our UPS box every single week and he sorts it and then tells me about the good stuff.

Tracy Krol:
Okay.

Brent Bowels:
And then very important, a fax number. You might be thinking who in the world faxes is nowadays? Well think about the people who were mailing. A lot of times they’re in their upper fifties and sixties and they still have access to a fax machine. So I want you to go to landsharksfax.com. That’s L-A-N-D-S-H-A-R-K-S-F-A-X.com. landsharksfax.com. There you’ll get a 14 day free trial. And I believe it’s $10 a month, 10.99 a month. Something like that. And we put a fax number on our Land Offer Letters because I would say we probably get more faxes back then we do phone calls, on these emails and return letters. Fax is the number one.

Tracy Krol:
Really?

Brent Bowels:
Yes. That’s so true because think about it. It’s the people we’re mailing have fax machines. I don’t understand it. I thought it was crazy. We just wanted to give people all the options possible to communicate with us. And lo and behold, we get faxes back.

Tracy Krol:
All right. It looks like I’m getting a fax number.

Brent Bowels:
And then the last thing is an email address. Gmail is free. You can set one up with Gmail. You can… Tracyslandbusiness.com or Tracybuysland.com or Tracybuysland@gmail.com. Keep it something simple unless you want them having your email then that’s fine. We actually just have a simple email on there. It’s like adminzackbuysland.com for us.

Tracy Krol:
Okay.

Brent Bowels:
Does all that makes sense with the Land Offer Letter?

Tracy Krol:
It does. And I guess you answered my question about… I was looking through the letter and I was thinking like, “If I got this in the mail I would think it’s a scam.” This just seems like, “How did this person know who I am?” The same questions you kind of went through. So when you get those phone calls are people asking you, “Is this real? Like what’s going on here?”

Brent Bowels:
Yeah and a lot of times they’re very pleasant phone calls. They’re like, “Hey, I just received a letter for $90,768 for my 37 acres. Just wanted to see if this was real or if it’s offers still available.” Or, “Don’t you ever dare insult me ever again for…” Things like that. And then what’s amazing is we don’t get a ton of phone calls about these but most of the time it’s because they think it’s a scam. And the other type of phone call we receive is, “Is offer still available?” And then the last one is, “Can you pay me more for it?” Or, “Would you be willing to pay this for it?” Or, “I would love to sell it but I can’t let it go for this much.” And then we have a conversation and then usually a conversation turns into something good. And then sometimes it just get put on our follow-up back load.

Tracy Krol:
And you wouldn’t necessarily… I mean do you have in your mind a number that… Say you offer 9,000 for it. Are you thinking like, “Well the highest I can go is 13,000 but…” Or do you just stick with your initial offer?

Brent Bowels:
We stick with our initial offer unless it’s not… It’s like splitting hairs. If it’s really close we will come up. But a lot of times and I had this conversation with my father yesterday. He had a seller and my father’s on I think it’s number like 36 land deal. He’s done manual labor his entire life. He’s needed to change for a while and he’s picked up land. And he’s got a very good strategy with sending these letters out and he does just enough. He’s not trying to run a multimillion dollar business but he had a seller selling a piece of land in North Florida. And he wasn’t interested in it because he didn’t want to have anything to do with North Florida. So I came up with an offer for her and he was like, “Well, you can start low and eventually go on.”
And I said, “No, I’m actually going to stay with my offer because we make so many offers on land that if they don’t take our offer it’s okay. Someone else will.” So I had that mentality, that mindset. I’ve just got to send enough offers out there for eventually someone to accept one. Now, if we’re just a couple of a hundred dollars off or whatever, if it’s something simple and we’re still going to make plenty of profit on it, I don’t mind increasing it. That’s not a big deal. But if they’re asking for 10… several thousand dollars more, absolutely no way.

Tracy Krol:
Okay.

Brent Bowels:
I want you to start thinking about looking into some type of CRM, a customer relationship manager. Because that’s one thing that’s going to be very important as you start sending many offer letters out and start talking to a lot of seller and then eventually buyers. You want to have something in place to start collecting all the data. And I like for it to be automatic. These phone numbers will go into the CRMs automatically. When you get an email response back it will go into your CRM and you get the fax back it’ll go into your CRM. I don’t want you having to keep track of all this on spreadsheets or I used to do it on sticky notes and they would fall through the cracks in my car and I would find it later and the deal will be long gone. We use Pipedrive it’s like it’s set up for salespeople. Pipedrive is very simple. It’s very affordable. The reason why I like Pipedrive is because I use some developers and they’re actually out in Australia. They’re amazing.
We tell them what we want to do that day and we wake up the next morning and it’s done because they’re on the other side of the world. They’re working at night when we’re sleeping. Their daytime… It costs a little bit of money each month. It’s okay to bootstrap in the beginning but we always want to think about automations and delegation. We don’t want to ever do anything forever. That’s why I love Screencast-O-Matic it is free for your first 15 recording. But after 15 it’s like $48 for the entire year. So as you’re finding yourself doing a task you need to record your screen because there’s someone else out there that will do this for less expensive than your time is per hour. You’re the CEO, you’re the owner. So your time is $500 an hour, a thousand dollars an hour. Start thinking in terms like that. Don’t think about your W2 job as a teacher wherever. I mean, you’re probably on salary so you probably have pay per hour. Let’s just call it $20 an hour as a teacher and correct me if I’m wrong. What do you think you make per hour?

Tracy Krol:
I think it’s about $30 an hour.

Brent Bowels:
All right. I didn’t mean to discount you there. $30 an hour. So you make it $30 an hour coaching teachers on how to be better teachers. Think about your land business is you always want to be make $500 an hour. No less than $500 an hour. So if you know that you could pay someone say $10 an hour to do this task, you’re still making $409 an hour. Does that make sense?

Tracy Krol:
It makes sense. And it sounds incredible.

Brent Bowels:
There you go. So always think like that. No, you don’t want to be doing the task, you want to make sure they’re getting done but I understand limited budgets at first. We got to get some revenue coming in and that’s coming. So let’s talk about the mail house. This is going to be your first team member. Since you scrubbed the list, when I first started I had my first team member as the person helping me scrub the list. So you scrubbed your own list. Hell your first team member is actually going to be the mail house. My second team member was in the mail house. My first team member was my list scrubber.
So I want you to go to landofferletter.com and this is a company that will help you get your mail out the door every single day, once a week, once a month, however often you like to do it. So I recommend mailing at least 300 a week. I know you’ve got to kind of a small list on tax delinquent. You pretty much narrowed it down to about 160. So you’re actually going to have to use a list provider. And I used the PropStream to do that. By going to the landsharkslist.com you can pull a list and get more data, more land per mail, more landowners. Because you’re still going to find that some of that land on the list that you pull is on the tax delinquent list. But your list is so small. You’re going to burn through that in like three and a half days. So that’s why we need you to go to the landsharkslist.com and get your seven day free trial to PropStream. Pull a list of vacant land in your county that way you have more to mail when you burn through those first 160. Does that make sense?

Tracy Krol:
It does.

Brent Bowels:
So back to the mail house. So I want you to send this mail house your Land Offer Letter with all your data on it: your name, your phone number, your email, your fax. You’ll send that to the mail house. You’re also doing [inaudible 00:22:16] spreadsheet that you built with these landowners. Their name, their address, the most important is the offer mark. They are going to do something called mail merge. And I don’t want to get too technical but they take the stuff off of your XL spreadsheet and put it on the LOL and send it out. What’s really cool about this is they do it in a handwritten font on your envelope and they manually placed the stamp on it. So these letters are getting open. People see that it was a manually placed stamp and a handwritten letter. They’re not throwing your letter in the trash. It’s getting open, it’s getting seen and that’s what’s most important. So go to the landofferletter.com. Sign up with Tara and they will take completely amazing, good care of you. Any questions about that?

Tracy Krol:
No. That makes sense.

Brent Bowels:
All right. The next time we talk we’re going to be talking about what to do when you receive one of these back accepted offer. One these LOL back. Whether it be via mail, email or they call you I’m going to walk you through a script of what to say when they call. That way you get the biggest discount possible. Though, When they call us it’s pure gold because we get a bigger discount. When they send it back signed with their signature, their phone number and their name and their address and their email, we call them and just let them know, “Hey, we got your offer.” And usually we get a bigger discount by talking to them on the phone. So next steps soon I’ll tell you exactly what I mean by that. I’ll walk you through the scripts on what to say and what to do when you get one of these accepted. Does that all make sense?

Tracy Krol:
I’m ready to do my first mailing. Yeah.

Brent Bowels:
Let’s go. Any questions before I let you go?

Tracy Krol:
No more questions from me yet.

Brent Bowels:
All right. I love it. Well thanks so much. Call me if you need in the meantime and we’ll talk soon.

Tracy Krol:
Bye-bye.

Brent Bowels:
Bye.

Speaker 1:
Okay guys. That wraps up episode three. I hope that each one of you is following along but not just listening. Actually taking action on what Brent is doing here with Tracy because at the end of the day that’s the goal not to consume content that makes us feel better about ourselves or smarter. It’s all about taking action on what we are giving you here because we know it works. If you do the work. Now in the next episode we’re going to learn if Tracy was able to get our mail out, what kind of responses she’s getting and if she has gotten responses, how is she dealing with them? So until next time, peace.

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