Posted on: February 19, 2021

This show is the fifth day of the nine-day do or die series. To recap, Tracy is a teacher by profession. She has a big goal of having more time and money, hitting $10,000 monthly in the next nine months. Previously, Brent taught Tracy about the four critical metrics to track to build a successful land business. He also deep-dived the script in handling seller responses, step by step, with Tracy.

In today’s episode, Tracy will update Brent on her mailing and her experience handling her first phone call using the script. She will also share the challenge of locating a lot online as the basis for having a fair offer and her exit plan and her mailing plans.

So, how much closer is Tracy to hitting her goal of $10,000 per month? Listen to this episode and find out!

Key Takeaways

  • On sending out 400 mails and the steps she took
  • Tracy’s plan of pulling a thousand list
  • How Tracy handled her first phone call experience
  • On calling back clients to follow up on the offer
  • How the script helped Tracy set an appointment
  • Her difficulty in finding the lot online
  • Her exit plan after getting the deal
  • Tracy’s plan to send out 1,500 letters
  • On being confident and spending on mails
  • Next steps for Tracy

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Episode Transcription

Darrin Bentley:
Hey guys, Darrin Bentley here, and welcome to episode five of the Do-Or-Die series, How to Do Your First Land Deal with the Land Shark, Brent Bowers. On today’s episode, we’re going to find out how Tracy is doing with her mailing and if she’s being consist with getting that mail out. And we’re also going to learn how is she handling her leads? Has she spoken with any motivated sellers? Is she struggling with those phone calls and having to work a full-time job?
Well, we’re going to learn the answer to those questions and many more in today’s episode, and we’re going to see how much closer is Tracy to hitting her goal of $10,000 per month. The clock is ticking. Can she do it? Well, let’s see how much closer she is in today’s episode. Enjoy.

Brent Bowers:
All right, Tracy, where are we at in the mail?

Tracy:
So I’ve already sent out probably about 400 pieces of mail. I was realizing, from when I got started, I don’t feel like I was doing enough mailing, and I didn’t factor in that it takes some time to do the valuations and plug that in and get it on the Excel sheet, and then by the time it gets sent to the place, there’s a lot of little steps I wasn’t considering. So by the time I would send it, it took a few days for the mail to go out.

Brent Bowers:
Yeah.

Tracy:
So I now realize I definitely need to be sending more mail consistently and come up with a schedule.

Brent Bowers:
What’s the plan ahead for that? I know you said you’re about to pull another list on Propstream tonight, what’s the plan ahead? How big of a list are you going to pull, where are you at with that?

Tracy:
So my first three lists have been pretty small, they’ve been under about 300. I’ve done three lists, all under 300 mailers. I would like to pull a list of 1,000.

Brent Bowers:
Okay.

Tracy:
1,500, and really have a big mailer out there. I did finally get a phone call, so that’s my big news of the day. Today I got my first-

Brent Bowers:
Amazing, I love the fact that you’re about to send 1,000 … let’s send 1,500, because here’s the thing: I really start to see things coming in, things happening, offer letters being sent back accepted, calls coming in, when you hit that three and a half-week mark. That’s usually around anywhere from nine to 1,500 letters. So once you hit that, you’re going to start that old mo, old momentum, or like I always say, you’re pumping that old-time well pump. Keep pumping it, keep pumping it, keep pumping, and eventually, eventually the water will start flowing. And once it does, you can slow down a little bit, but you got to keep pumping that what I like to call deal flow or the water flow. Keep it going.
Tell me about that phone call you received; off of 400 letters, you’ve already received a phone call, what did that sound like, what did it look like, were you nervous? How did you get through it?

Tracy:
Yeah, when I saw that it was from one of the areas that I mailed to, my heart started racing. I didn’t want to answer the phone call, but I knew I should.

Brent Bowers:
Yeah.

Tracy:
I fought that feeling, I picked up the call, and I pulled up my script just so I had something to go off of, and it went really well, actually. I was a little nervous, I was like, I don’t know if this guy’s going to yell at me, if it’s going to be a negative encounter, but the minute I started to say the script, it just kind of flowed. I asked him questions, I asked him about the land; it turned out that both of his parents are passed, and him and his sister own this piece of land that they never go to, they are never going to use it.
So the circumstance seems really good, and we started to talk about the offer that I sent. I asked him if that was a price, the lowest he can go, and he said the only thing holding him back is that he owns it with his sister and he has to have that conversation. So I guess some questions I had is, what do you do when you have someone dealing with the fact that they’re not the only one on the deed?

Brent Bowers:
I say get her on the phone, or hey, could you call her? You want to give her a call right now? I’m actually looking at a few other properties, but since I already have you on the phone, let’s go ahead and talk now. Can you get her on the phone? What’s her name? Oh, her name’s Sarah. Awesome, what do you think Sarah’s doing right now? Oh, let’s see, let’s give her a call.
I would probably get that guy a call back as soon as we hung up, and get the sister on the phone, be like, look, I just had another property come about, but I’m also interested in yours as well. I got to figure out where I’m going to put my money. And I don’t like to necessarily lie, I like for other properties to be coming in, because a lot of times when we saw that, it’s the 100% truth. We’re looking at eight properties and we’re eventually going to buy all eight; they might be in a separate order, though.
I want that to become true and reality, but you could pull up a property on Zillow while you’re talking to this seller. That way, you are being 100% honest. “Hey, I’m looking at another property in the area, I’m trying to figure out which one to buy.” The one you’re looking at on Zillow’s probably going to be more expensive.

Tracy:
Right.

Brent Bowers:
That’s okay, you’re being truthful. So get her on the phone. I heard this example today, and it’s kind of like, for example, you have this nice, classic car in your garage. You know it’s worth a ton of money, but there’s dust collecting on this car in this garage and you haven’t taken it out in months, and it’s just taking up space, and then someone sends you an offer letter for that exact car. It just falls in your lap. What’s the chances of you selling it? Probably pretty good, because you haven’t driven it in months, it’s collecting dust, it’s taking up all of this space and your husband’s telling you get rid of it.
Let’s put it in another scenario: this car is in your garage and your garage is in Florida, but you live in Pennsylvania. You’re going to be even more likely to sell it, so that’s all this is, it’s a pice of land they never go to, they’ve been paying the taxes on it, they inherited it from Mom and Dad, they have no emotional ties to it. So help them out, get them back on the phone.

Tracy:
Okay, awesome, yeah. I think I did really well, and then that kind of stifled me, but it makes sense, in that moment, to get her on the phone. He did say he was going to call her and we have a time scheduled for tomorrow.

Brent Bowers:
There you go.

Tracy:
I like the idea of even just getting him back on the phone tonight.

Brent Bowers:
Have you ever gotten mad at someone? Like, what have you ever sold before? Have you ever sold a car or a bicycle or a phone or anything? Give me an example of something you’ve sold.

Tracy:
Yeah, I’ve sold some stuff on the community page, just like a dresser, whatever.

Brent Bowers:
Have you ever gotten mad that someone sent you a couple messages and one phone call because they were just, hey, I got to get this dresser? Have you gotten mad at that person for being too aggressive to give you money?

Tracy:
No, that’s true. That’s a good point.

Brent Bowers:
There you go. Then get him on the phone tonight. I mean, if they don’t answer, you got the time set for tomorrow. That’s awesome, great job setting the time for tomorrow, because I never like someone to say I’ll call you back. No, I want to keep control of that. I want to call them back when we set the time to call back, so even if you don’t get him on the phone tonight, great job setting it up tomorrow.
The script. How did the script go? I know you mentioned that. I know you said it flowed, but did it make sense, did it help? Did it kind of give you confidence to talk to this seller?

Tracy:
Definitely did to start. I think because he was, with the whole situation with the sister, it was really hard to lock down a price or how he even felt about the price that I put in the offer letter. So I didn’t want to push too hard on that, because I’m like, if they’re both going to be making the decision, I kind of didn’t know if you would try to lock him into a price without her approval. So I just kind of let it be. I said it, but then we kind of moved on to setting the appointment.

Brent Bowers:
Yeah, stick with your guns. If you could have them both on the phone, that’s fine. What did you offer for that land?

Tracy:
I believe it was 1,500.

Brent Bowers:
1,500 for the land, and what can you sell it for as far as retail?

Tracy:
I had a really hard time finding this land when I was putting in the VIN number, so that was another little hiccup. It took me a couple hours to figure out how to get to the site to find the land because it wasn’t popping up on any of the sites that I normally use. I did finally just find it, so I don’t know much about it. But it looks like it’s in, it’s a residential area with other houses and it’s just an empty lot. And that’s what he told me, that it’s right by a waterfall. He’s like, I don’t like the mountains, I never go over there, so it sounds wonderful. But I have to do more research.

Brent Bowers:
God, it sounds to me like it’s an absolute gold mine. If it’s a buildable lot, in-fill lot next to a waterfall, what are we talking, like 15, $20,000 lot?

Tracy:
Yeah, I was looking, I think 20 to 30 is what I was seeing.

Brent Bowers:
20 to $30,000 lot. All right, what’s your exit plan going to be on this lot, do you know, if he accepts this $1,500 offer?

Tracy:
I don’t know. I was probably just going to ask you a million questions after that.

Brent Bowers:
I’m glad, because here’s what my exit plan would be: what would be the hardest way to find a buyer? Would it be to say, hey, I need 30 grand for this lot? Or, hey, I need $1,500 down and I’ll hold the financing for $27,000 over the next six years at 9% interest at, whatever, $599 a month? How many buyers do you think would be in that pool that can afford a monthly payment of 500 a month, or how many buyers you think would be in the pool that can just come up with $30,000?

Tracy:
Yeah, I definitely think there would be a ton of buyers if they’re able to finance it.

Brent Bowers:
Love it. And that’s how we sell most of our land, and that’s how the passive income’s created. That replaces the car payment and the cell phone payment and the insurance payment, that one $599 a month or whatever. And you get your $1,500 back so fast. So let’s do it, get them on the phone, call me as soon as it’s done, and let’s do this.
Now, back to your mailers: what are you doing tonight?

Tracy:
I am getting a huge list of 1,500, I’m going to prep it tonight so it’s ready to go and actually drop tomorrow. So I want to send it out to my mailing company tonight. [crosstalk 00:10:50]

Brent Bowers:
I am so excited. So 1,500 letters going out in the next couple days. And think about this, Tracy: this should give you the vision, this should give you the confidence, the proof of concept that this works. You sent 400 letters out, you’re about to buy one for $1,500, you’re going to buy it for $1,500 and turn around and sell it for 30,000 on financing and get your first passive income note coming in.
You know this works already, this should be the confidence. Pull that trigger on the 1,500. This is a business, think about this. How much money would you say you spent on this business so far?

Tracy:
Oh, just like, maybe, $600?

Brent Bowers:
$600 to make 30 grand. Imagine most businesses starting out, how many hundreds of thousands of dollars it takes to start a business and how many years it takes to become profitable, if they make it past the first five years.

Tracy:
True.

Brent Bowers:
You can start this business on such a small amount of money, so don’t be afraid to spend money on lists and mail. You just got to get it out the door. Once you get that great deal, everything else starts happening.

Tracy:
Awesome. I will say that the first phone call really pumped me up, because I think one thing that we said back from the beginning was, it’s either that I don’t trust you or I don’t trust the system, so I definitely trust you. But as I’m sending out mailers and spending money, I always get that knee-jerk reaction to get scared that it’s not going to work. So just getting on the phone with someone today who is interested in selling me their land, I’m thinking, oh, this actually works. It’ll work for me.

Brent Bowers:
It’s so true, and most people think, well, what’s the catch? This can’t be that easy. I mean, my first deal, my first lot that I purchased was $285. I looked at the land, it was two lots side-by-side, and I was so scared, I did not pay the seller until I had a buyer lined up to pay me the next day. Here’s what it looked like: that buyer was a realtor paying me $5,000 the next day, and I could not write that $285 check until I had a contract with that realtor for 5,000, because I just was like, there’s no way. I can’t do this. It’s too good to be true, what’s the catch?
Even though me and my wife went and looked at this land, it was the most beautiful piece of land ever overlooking the Pike National Forest, I still didn’t believe it. And then I did a second one, and the third one. And by about the fourth one, when I had all this cash in my hands, I started to believe it. So you’ll be there, you’ll get there.

Tracy:
I’m excited, I really am pumped up.

Brent Bowers:
All right, well, call me or text me tomorrow morning, let me know that you got the list, and what time are you talking to the sellers tomorrow on this lot for $1,500.

Tracy:
4:00.

Brent Bowers:
4:00 PM.

Tracy:
Yep.

Brent Bowers:
All right. Let me know how it goes.

Tracy:
All right, will do. Thank you, Brent.

Brent Bowers:
Thanks for coming on, talk to you later. Bye-bye.

Tracy:
Bye.

Darrin Bentley:
Okay, so that concludes episode five of the Do-Or-Die series. Be sure to tune in next week, where we’re going to learn if Tracy was able to land that whopper of a deal. And if not, does she have another potential deal waiting in the wings? Well, we’ll see on the next episode. See you next time.

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