Generating leads is a key to drive our businesses to sustainable growth. We could convert those and close more deals as real estate investors with the right strategies and marketing channels. Expect the most note-worthy podcast on today’s show as our guest couple will unpack essential points for the listeners to take in. It took 42 months for this couple from Columbus, Ohio, to go from zero to 260 real estate deals! Yes, nothing can stop Josh and Tiffany High from hitting the deals despite their challenges!
Brent Daniels sits down with Josh and Tiffany for a conversation about converting leads into quality leads. In this episode, Josh and Tiffany share their professional journey and how they accelerated in this field. They dive deep into their processes, strategies, and analytics.
Gain financial freedom and note the nuggets of wisdom from this episode. It is time to settle in.
How One Couple Went From Zero To 160 Real Estate Wholesale Deals PER YEAR!
Expect the most note-worthy podcast on today’s show as our guest couple will unpack essential points for the listeners to take in. It took 42 months for this couple from Columbus, Ohio, to go from zero to 260 real estate deals!
This conversation that I’m about to have is the most noteworthy episode so far in 2021. You need to grab your pen, grab your pad of paper, a scrap of paper or whatever it is and really settle in because let me hook you now. It took this fantastic couple out of Columbus, Ohio 42 months to go from zero real estate deals to 160 deals in 2019. In 2020 doing another 100 deals. It is my pleasure to introduce you to the show, Josh and Tiffany High.
Thanks for having us on the show. We are looking forward to dropping some value to everyone who’s going to be reading.
This is the first show that Josh and I have done together.
This is going to be perfect because we are going to get both sides of the story of how you guys started and got into this. Let’s start many months ago and the reason I bring it up in months is that that’s how I remember everything when I had my young boys. When my boys were born, everything was months. You guys have a baby, beautiful Saylor. That’s your daughter and you are still running this business. Not only can you have a family and be successful in this but it started somewhere. How do you guys find this small niche in real estate investing, which is wholesaling?
It all started back in May of 2017. Long story short, my little brother at that time was seventeen. He got diagnosed with cancer and I was a corporate leader. I grew in the corporate space really fast. I was making very good money and I actually did love my job. It wasn’t that I didn’t love my job but my brother was in Nationwide Children’s for a year. My parents owned companies and one thing that I was watching was that they never left his side for a year. They took turns and there was never one minute over 365 days that my brother didn’t have a parent next to him. About 3/4 of the way through the year, I’m never going to be able to be that parent. I will never be able to leave my 9:00 to 5:00.
I was traveling all over the country for my job and leading people. Even if my kid did that now and I had a family, I would be a horrible mom. I just wouldn’t have the option I should say and I wanted that option. On Good Friday of May 2017, I woke up. I didn’t even tell him at that time, I called my dad and said, “Guess what I’m walking out? I’m walking to my job now and I’m quitting.” I’m walking in the doors and I’m like, “Should I be doing this?” I just laughed. I said, “I’m doing this. I gave them a month’s notice. Honestly, I might fail but if I fail, can you take me back because I have proven myself here. I just want this opportunity to do something that I think I want to go after?” I didn’t know an answer. I didn’t know if I was going to be rehabbing or buying rentals. I had no idea. I just took the chance and live the faith.
It took us six months to find our first deal. We had actually joined a program at that point. I was blowing all this money on marketing for six months. Looking back as probably because I didn’t know how to talk to a seller but it’s one thing to get leads in. It’s another to close them. We’ve got our first deal six months in and from there I was like, “Now I’ve got the confidence,” because I’m ready to give up. I was getting ready to go back to my job.
Josh is like, “Give me two weeks. I know we can do this.” He was the reason why we’ve got the first deal, thank God. From there, we made a goal and in 2019 we were like, “We can do one deal a quarter or something.” We are thinking small-minded. I forget what our goals went from there. We started doing subject tos because we didn’t know how to raise money. We joined a program, learned how to raise money and it has progressed ever since.
I want to back up to that first six months. I think in our society now, the microwave society, we have information at our fingertips and people expect things to be done now. They start one day, they expect results the next day. It doesn’t happen that way. The thing that we figured out was one, you have to consistently be marketing. Not only that, but you also have to perfect your craft on the back end of things. As Tiff said, the only reason why we got that first deal is that we figured out how to talk to sellers. Once we were able to do that, we were controlling what we could be getting the marketing out consistently. On the back end of things, we had to trust the process. It takes time. It’s not going to happen overnight.
How did you go from not talking to any sellers to being able to be comfortable talking to somebody to the point where they are going to sign a contract with you and you’re going to get that deal? That six months, a lot of people are going through that now reading this. They are like, “How do I get better at this? How do I get more shots at this?” What were that six months like? Did you guys were having leads coming in? Was the lead follow-up in the pre-qualifying? What were the things that you were working on to convert that deal?
To be 100% transparent, the biggest thing was practicing our sales. We actually go through a lot of studying on NLP specifically.
What’s NLP for everybody that doesn’t know?
The one thing they have to know though is we jumped in and we didn’t have coaching at all. When I said, “We have two weeks where I’m taking my job back.” We were in a coaching program but we never actually utilized the calls that they gave us. We were one of those students that paid for a program and didn’t utilize it. He was like, “We need to use our coaching calls.” He called his coach every day for ten days and practice those NLP tactics and landed the deal on the tenth day.
We were writing down five sentences a day. We are reading them out loud and practicing. I took three of those sentences that I would write down every single day and went to that in-person appointment. The seller at that point was asking $50,000. I went in a block and I’m up at $25,000. Literally, I dropped them by half of what they are asking was, got our first deal, proof of concept and we took off from there.
That’s what we were talking about on the show. We talk about the difference between faith is fantastic and wonderful but a fact in business is more powerful and crossing that bridge. As you were saying, proof of concepts and now you are like, “We can repeat.” I think it’s really interesting that you are saying, “We have a mentor. Why don’t we talk to him?” You spend ten days talking to him because everything that we want and I truly believe this is in somebody else’s brain, is already there.
If somebody else already has it, we have to ask the questions. You put yourself in a position to ask really successful people questions when you do join coaching or mentorship. I have had coaches forever but business coaches since I was 22 years old and I don’t know if I could do business without a coach. I’ve got into it. I’m not promoting here. You tap into somebody that has way more experience. In ten days, all of a sudden, it makes up for those 170 days before that that you were trying to convert this thing.
Be loud on your purpose. Everything you do in life gets deeper when done with good intent.
One thing that no one ever told me, in the beginning, is a quick stat of our current KPIs. By the way, we were using notebook paper by then. We didn’t have CRM. Once a lead comes in, they call us saying they want to sell. Our stats takes 125 days on average to go into a contract because we are really good at following up on old leads. If you think about it, back then, we would get all these leads in, we would write them on a piece of paper, and then I would probably never call them again. That was one of the biggest mistakes we ever made because the fortune is in the follow-up. We were only getting the deals that we called that week and we pretty much lost track of them.
The lowest-hanging fruit you guys are getting and the lead fall. It’s all there. You are already hunting and getting them to either call you, you are calling them or whatever else, you’ve got this opportunity, their information, you know that they are interested in an offer, you’ve just got to convert it. It takes time. Ours is 92 days on average from the first time that we talked to them on the phone and the very first quality conversation we have to the time we get paid.
Everybody out there reading, have patients but also you’ve got to do your follow-up and try to shorten the timeline on these property owners as much as you can because the shorter timeline that you have, the more likely you are going to get that deal. If they have a long timeline, there are a lot of other opportunities and people pouring honey into their ear telling them that they can buy the house or different strategies, or whatever else. Try to shorten the timeline but be realistic. We are talking 90 days to 120 days. Now you are like, “The rockets lit.” You get your first deal at the end of 2017 going into 2018 and then what happens?
We became rehabbers before wholesalers. We rehabbed between 36 deals and 40 deals that year. That sounds like a lot but we actually made a lot of mistakes and we blew a lot of money. We paid contractors in advance and got screwed. Although we might have done well over $1 million in revenue, it didn’t matter because we weren’t getting it. We learned a ton of ton that year.
When people make $1 million, that’s not what you take home. That’s what all the gurus say, $5 million.
We definitely did not net that much that year but I will say, the mistakes are what made us put more processes over time. One of the biggest pieces of advice I always tell newer people is to be careful about who you do get help from. You want to make sure that someone already had all those ups and downs because it’s a part of the game and make sure that when you are reaching out to whoever it is you want to mentor you, “What are some of the biggest hardships you went through? What are some of the losses you went through?”
I guarantee, if they have done enough deals, they have lost money on something at some point. If they haven’t, then they haven’t done enough deals. That’s one of my big pieces of advice. Make sure you are learning from the right people and they are not hiding those hardships because they are real. There’s one that you can take from a coach or a mentor too is like, “What’s one thing to prevent me from losing $100,000 on a deal.” We made a lot of mistakes that the first year on the rehabbing side and it wasn’t scalable.
When you were raising money, did you have some private investors that would give you the money for the down payment, fixed up and then you would split the deal?
We paid 12% annualized interest.
There are no splits. That’s fantastic for the investor. Obviously, investors would love to get the split as well for 12%. That’s incredible. Do you still work with these people? Do you still get funding?
We have had the same private lenders that our core base of private lenders since that year.
When did you start wholesaling?
We started rehabbing first.
In 2018, with those deals, we had some big mistakes that she had talked about and that forced our hand. It was like, “It’s do or die. We are either going to have to shut up because of the mistakes that we were making or we were going to really scale this thing out and create the revenue to make up for those mistakes.” At one point, we were sitting down and we were like, “We’ve got to get this thing going.”
We realized that we had to do some assignments and some wholesales because of the time it takes to do a rehab. You first have to go into contract, you’ve got 30 to 60 days to close on that contract, you’ve got another 1 to 2 months to rehab and then you’ve got another month to close on. That could be a 6 to 8-month process. We realized quickly that we had to start wholesaling. That’s where our model went and we scaled that model.
It was when we were in our 40th rehab. I was like, “This is miserable, just rehabbing.” I was stressed out. I had happened to call a friend in the industry in Columbus and he’s like, “Why aren’t you wholesaling?” I understand the concept of wholesaling but I actually didn’t know how it physically worked. He referred me over to a wholesaling event, I went to it and I’m like, “You mean that I can sell a piece of paper?” I remember walking out of the event and I was like, “This is the best thing that has ever happened to me,” because I’m really good at sales and marketing.
The contractor piece was what held us back from scaling. We walked out of that and in the first 30 days, we did $200,000-something locked up in wholesales. I was like, “This is a game-changer. This is going to change our lives.” I’m good at systems and processes, and he’s the sales guru between us or the sales manager so it worked out well and we took off from there. You have your other set of problems so you scale wholesaling and there’s a whole another set of problems just like we ran into rehabbing that we had to go back, restart and refinish it, and get better over time.
When I found out what wholesaling was and I had been in real estate since 2004, it took me nine years. 2013 was really when I figured it out I was like, “What have I been doing?” This is the greatest business of all time because one, your timelines are way shorter. To break it down, Josh, you said 120 days of follow-up to get a deal and then you have another 180 days of fixing it up, taking care of it, paying utilities, paying insurance, paying your contractors and getting it through. The profit is fantastic.
You are going to make more profit typically in most markets flipping than you will with the wholesale per deal but you can make your wholesale money in two weeks or ten days instead of almost a year, it’s wonderful. Obviously, this Wholesaling Inc show, we were wholesaling first but making that evolution into fixing and flipping. Understand that it takes a longer time and fill in your cashflow needs with assigning deals with wholesaling.
We are one of those markets. We are in Columbus, Ohio and we have friends in Cali where their assignments or wholesales can be up to six figures. You don’t have that in my market. The house sells for $130,000. We do a mixture of both now. We pay attention to what’s it going to profit. If it’s going to profit three times, as much as we can make on a wholesale and it fits in within our rehab criteria, we rehab it. What if it’s going to make $25,000 as an assignment and I don’t have to do anything, why would I not take $25,000? There are different ways we look at it now. We do a mixture of both, in 2020, we saw wholesaling as, “I can scale this thing massive.”
We forgot about rehabbing. What happened was, in 2020 I did an audit of 2019. I went back and pulled every property we sold to the rehabbers and saw what their sale price was. I was like, “We are giving up the farm here on some of these deals. Someone in there went in and put in $15,000 in work and probably made $40,000 to $50,000 off. Why aren’t we taking on those?” We’ve got better as time went. I’m making sure we maximize our exit strategies.
What you should see out of this story is you can’t be everything at once in the beginning. You’ve got to learn how to get your first deals and you will grow from there and always be a student of the game. It doesn’t matter if I’m doing over 100 deals, there’s someone bigger than me and I need to learn from the next. It’s important to always stay a student and learning.
The foundation of a real estate business is sourcing opportunities and finding deals. Once you can do that and you can do it yourself, you are not buying it from other wholesalers or you are not getting it from real estate agents that are hiking it up or whatever else and it’s a rental. If you can find your own deals, you are in the driver’s seat. You are going to do whatever you want. You can wholesale it, flip it, hold it or whatever. That’s an important skill to learn. Initially, learn how to hunt, find opportunities or pre-qualify them, learn about the condition of the property, their timeline to sell, their motivation to sell and the price that they want. Those are the four things that you want to pre-qualify every seller with and it’s all about lead follow-up.
You have to consistently market your product or service if you want your business to grow.
If you start building in those disciplines, you’ve got a real business. From there, you can do whatever. The path is, learn how to find the deals first, which we call wholesaling. Wholesaling is we assign it in whatever else but it’s sourcing the real estate opportunity. Pay off your personal debts. I firmly believe in not being a financial, just stuck to paying all that interest and then start buying assets.
That’s the progression of a real estate investing company. You have been cranking over 260 deals since 2019. Some stats for everybody here, 62% of your business, Josh is rehab in 2020 and you make $32,000 and the other 38% is wholesale and you make $8,500. This should be a rule that everybody follows for real. If you can make three times that you can’t on a wholesale or a flip, flip it.
The other thing with that is we don’t take on full guts. There is another piece to that criteria. We used to take on full guts and we ran into many unknowns. If you are newer in the game, personal advice, don’t take on full guts. You really need to take your experience and If you jump into rehabbing that you take on cosmetic rehabs, it’s a stepping stone to making sure you understand the permitting process and all that. Once you get into a full gut, it’s a totally different ball game than slapping some paint up and putting granted down.
Getting the right contractors that are going to show up on time and they are going to keep it in budget. With contractors, there’s that saying, “It’s either time, quality or cost and you only get two of those.” What do you want? Do you want it to be fast and really good quality, then it’s going to be expensive? Do you want it to be okay quality and fast, then it’s going to be cheap? It’s interesting to find the right people and it takes some time to be able to develop those relationships, get that consistency and your crew.
I want you to think Josh, the biggest wholesale deal that I want to do a breakdown on. Let me ask you this because you do a fantastic job of this. You are loud on social media. Not like crazy but you are yourselves. How important do you think that is in our community to have the courage to be loud about what you guys are doing?
I’m a big advocate. The reason why I’m loud on social media by the way is that every single one of my private lenders came from following me on social media. Some people look at and say, “I put a deal out there,” and I’m like, “I purchased this at X, Y, Z. This is what my repairs were. I listed it for this profit.” I’m not posting that to brag about the deal. I’m posting that because I want people with money to follow me. Not only do I want people’s money to follow me but every single person sitting in my office who works for me is from social media following me.
When you put your company out there, your culture, your success, these things aren’t to brag about it to your peers. You need to strategically be posting on social media, LinkedIn, Facebook and putting yourselves in communities where someone is eventually going to knock on your door and say, “How do I be a part of this? How do I land on a deal like this? What does private lending even mean?”
“Let me teach you how to self-direct your old 401(k).” That’s how these conversations get started. I am loud on a purpose. I always say, “Everything you do in life, it gets deeper. It needs to be on it with intent.” I have an intention when I post these things, I encourage my community, my friends, my peers and the industry to put yourself out there more because if you want to start getting into the rehab game, you need private money. How do the private money lenders find you? Social media, how else?
I’ve got it in mind. What do you want to talk about specifically?
How do you find a marketing channel if it was from a certain list? What resources do you use? Give us the whole rundown.
The one I’m thinking of in particular I believe was a cold call. They came in and actually it took us several times to reach out. Follow-up was key with this one. We’ve got him on the phone and had a brief conversation with him. I wasn’t able to have that quality conversation but we knew where they sat with things and we knew it as the deal. Consistently followed up, we would get him on the phone and go a little bit more through that process to have that quality conversation. Finally, we identified that we had to get in person, which majority of our deals are locked up over the phone unless we see that it’s something like this. It’s a hot opportunity and we’ve got to get in front of them.
When you say it’s locked up over the phone, does that mean you are sending them a contract digitally? Are you staying on the phone with them to sign it or are you just sending it?
We are staying on the phone to get it signed.
Give everybody advice here.
We learned from doing it the wrong way. We would send out, let’s just say, ten agreements because someone said, “Send it to me. Let’s go.” We would send it out and it would never come back. We were asking ourselves, “They said yes to the price. We sent out the agreement, why are they not signing?” Finally, we are like, “We’ve got to stay on the phone and actually walk through this. If they have questions, we need to address those questions. There’s some fear and anxiety that the seller could have and we need to help them overcome that.” Being that other voice of reason on the phone to help make them feel 100% comfortable with everything is really what gets you that signature. At the end of the day, it gets the deal moving forward.
It’s the exact same thing that I do here in our business. I train my acquisition managers to say, “As a professional courtesy to you, we would like to go through the contract, the agreement and make sure that all your questions are answered so that we can move forward and get you out of whatever the situation is.” It’s a professional courtesy. You could use that but if you feel weird about saying, “Will you stay on the phone and go through this contract,” don’t do that. Make it seem like this is normal. This is what most of the people and other property owners that we work with prefer us to stay on the phone and go through the contract. It’s huge.
It goes into the abyss. If you send it to that email, they are not on the phone with you, you are not scheduled that you are going to go through the contract, you never know and then you play the anxiety game. You play the, “I have seen it. I see that they have seen it. It shows me right here. They have reviewed the document but they haven’t signed. What’s going on here? Are they leveraging me? Did I send it to the right person? Is this actually the owner?”
All of a sudden, you are ten calls behind that you could have already made to get that next appointment.
It’s all in your head because you are so excited. You want to celebrate. You want that shot of dopamine that’s going to be like, “The contract signed. I love it,” and you are waiting. Everybody out there, learn what Josh and Tiffany are saying here. Get them on the phone, keep them on the phone, get the agreement, the paperwork signed on the phone and you will win. By the way, this cold call that you did, do you remember what list it was from?
I did not remember that.
Do you remember what his motivation was?
The motivation was a divorce so maybe that was where it was from. This couple was going through a divorce. We realized that we had to get in front of these people. They were a little bit older, not as technology-friendly. We went out there. We actually had several meetings in person. There was a whole bunch of things.
Figure out how to talk to sellers so that you would turn the call into a quality conversation.
We had to get very creative with helping them, logistically moving furniture from point A to point B, helping them find a place, even getting creative on the back end because they needed funds before they could buy another place. Literally, every trick in the industry, we had to come up with and provide that as a solution for this deal in particular but this is a deal that we looked at. At the beginning of 2020, we looked back and this was a big wholesale for us.
We did an audit on that deal in particular and we are like, “Imagine if we were to rehab this, it was a very easy cosmetic rehab.” The person that we sold it to, “If I make money, you make money. If it’s a win for everyone, that’s great.” This was a huge eye-opener for us. We need to start doing these light cosmetic renovations because that could have been a six-figure deal for us. We made $47,000 on the assignment but in the rehab, we made $75,000-plus based on what we saw that he had gone and everything like that.
He renovated it in two weeks. This was a big mistake on our end that we didn’t rehab it.
Everybody out there is saying, “You guys made $47,000.” $47,000 from one phone call from a probable divorce list. Do you go after the divorce list? Where do you get your divorce lists from?
We pull that from Tangie with Foreclosure in the State of Illinois. We can pull it from the county but the problem with the county is when they send you the data, they don’t know if they own a house or not. They sending everyone that went through a divorce where she filters out who actually owns real estate.
She does probates, foreclosure and divorce. Foreclosures Daily or ProbatesDaily.com. She gives a discount to Wholesaling Inc readers. Use TTP as your discount on that and you will get hooked up. You brought some notes here. This is really important and where people are going to get an incredible amount of value and I talk about it on the show here that you’ve got to track your numbers.
That’s the difference between amateurs and pros. If you don’t know your numbers, then how are you going to get predictable? If you are not predictable, you are hoping things are going to work out. Predictability is what sets us up to hire people, to scale, to make really smart business decisions, to decide if we want to quit our job now or not. It comes down to tracking your numbers and figuring out how many people do you have to talk to, to earn a living in this business, to go and build a business, and be like a true entrepreneur?
Do you want to talk about what you track on the acquisition side first? I will say why this is important.
One thing that we track daily is I want to know how many quality conversations we have. When I say quality conversation, I’m talking in our script, how many people are we taking all the way through the script?
We call that a process.
We want to know how many processes we have daily. From those processes, how many offers are we having daily as well? Actually, our team is crushing it on offers to deal for just under four. If we make four offers, we have a deal signed
This is when you say offer verbally. They are pre-qualifying them before they are giving a number or they just don’t want a number.
They go through our script. That’s a quality conversation process call.
A lot of people ask the question, “Why aren’t you giving an offer to every process you do?” There are a bunch of reasons because they might not be qualified or they might need to be referred to an agent. What we see is about 1 of every 2 processes we make an offer.
We call it leads and quality leads. Quality leads are the people that we know, the condition, the timeline to sell their motivation and their price. We have pre-qualified them. What you are saying is a process lead is somebody that you pre-qualify.
Let’s assume for some mistakes that we land a contract for 1 out of every 8 offers. Everyone gets out their pen and paper because I’m going to shout out some numbers. What happens is a lot of peers in the industry, the biggest thing that people run into is they are operating every day and they don’t know what they are supposed to be doing. We literally know what our team needs to be doing every hour of every day. The next day we go over yesterday’s KPIs to make sure we are staying in line with where we need to be going to get hit the revenue goal. Let’s assume that you want to hit $100,000 this month and your average profit per deal is $12,000.
The industry standard now, if all you do is wholesale is we call this the success rate. Normally, the industry standard is 60% close, 40% fallout due to title issues. Ours, we use 70% because we rehab so we have a little bit better success rate with closing. I made an average number of, you should be tracking this, how many leads does it take to get a contract? For the sake of this offer, we are going to say our average profit per deal is $12,000. Our success rate is 70%. The leads per contract are 75%, which is a pretty good industry standard. If you don’t know your revenue goal, you won’t know what you have to do to back this down.
You need to get very clear about what the revenue goal is. Let’s say it’s $100,000. If you take the 70% success rate at the $12,000 profit, you need 8.33% deals to close. The $12,000 times eight, you hit up to your $100,000. You take the 8.33% deals to close and you divide it by 0.7% because that’s the success rate. It says you actually have to put 12 houses in contract and 8 of them will close, essentially. If we break that down to weeks, we take twelve contracts divided by four weeks that says, I have to get three contracts a week. If I get $12,000 times three contracts, that’s $36,000 in projected profit. Now, 70% of the $36,000 is actually going to close. If I get $36,000 and projected profit, $25,000 should close on average.
Is this quarterly?
This is broken down every month. You can do the same thing quarterly.
I’m trying to keep it simple for one month. If I have 75 leads of contract, I’ve got to produce three a week on average based on what my average profit per deal is, I’ve got to produce 225 leads a week to get down to that. Now I know what my marketing has to produce. You are not surprised or understanding if you produce 180 leads this week, what does that mean? If you are not tracking this, you don’t know if he should increase or decrease. That equals 45 leads a day. That’s what someone with these stats says if you are not producing 45 leads a day, then don’t be surprised if you don’t hit the contracts. You take it down to eight.
If you land 1 of 8 offers, it’s eight offers a contract and you need three contracts, your team needs to produce 24 offers a week. This is why we are big on daily huddles. Say we go into a Wednesday or a Thursday and we only see three offers have been made, no wonder why we are not performing because the stats say that my three guys evenly split out and need to be making XYZ offers per week or don’t be surprised if we don’t perform.
When you get that granular down into your numbers, it helps you understand why you aren’t performing and you aren’t predictable if you aren’t tracking these things. If you want to be here in ten years, you need to become a predictable, consistent company. I don’t care if you want to make $10,000 a month or $100,000, you’ve still got to be tracking down to the granular. How many leads a day do I need to produce? How many offers, how many processes?
You add the human element. What if your acquisition manager goes on vacation, who’s covering for that? What if somebody is sick, who’s covering for that? You’ve got all these little things going on. You’ve got the analytics and then you put people into the positions to win. When you hire somebody, you have their financial responsibilities in your hands. You need to be the Rainmaker.
You need to be able to provide those 225 leads or whatever it is to be able to get to the point where you are closing three deals every single month, week or whatever it is to break it down to get to the goals that you set. If you are doing it yourself, it’s easy to track. How many conversations are you having to get to a lead? How many leads are a contract? How many contracts closed and what do you make per contract that closes? Simple math.
Trust the process. Success is not going to happen overnight. It takes time.
If you are not tracking this, what it’s going to result in is turnover. What’s going to happen is your salesforce it’s going to say, “I’m making these offers. I don’t understand why.” What happens is you will walk in the room like, “Make more offers.” “How many offers?” Eventually, they see you are not putting the right resources in my hand. We don’t understand your vision, what we are supposed to be doing and they are going to leave. It’s really big that not only to become a predictable company but if you want to sustain talented people, you need to be setting a clear plan in place in front of them to be able to perform against.
Even if the person who’s doing this on their own too, people have fear and anxiety, just not knowing it. How many more people do I need to talk to until I get a deal? They are just like, “What am I going to get a deal?” If you are not tracking these you will never know.
When you are starting out, you have to build up your lead pipeline. If you start with zero leads, it’s going to take 90 days to build up a pipeline. It’s going to take six months to get the deal closed. I have seen some of the most successful wholesalers around the country took 5 to 6 months to get their first deal. That’s real but it’s going through, it’s keeping that confidence, it’s keeping it up and understanding that other people are doing it. We do an interview. We show people every single week of people doing this to give an example that you can do this.
Don’t get discouraged. If you are in that first start, you are building up your momentum, and the train is slowly creaking down the tracks, it will build up momentum. Your first six months, $0. Your next 36 months, it has been bananas, you have made millions. You guys do something cool. You are in Columbus. You have a few different pieces of training that you do. How do people find out about that and interact if they are feeling you, near you, seeing you and really like to connect with you?
I didn’t get to it but I think that this is important. How do you guys get so many leads? What are your marketing channels? What does that look like?
He knows nothing about our marketing because I handle all that.
In this business, it breaks down three parts, lead generation, conversion, which is sales and exit strategy, which is flipping, wholesaling or whatever else. With lead generation, how do you get 200 leads a week?
We primarily do RVM, SMS, cold calling, and Facebook ads. A lot of people ask me why I don’t do PPC. I have just never had a great experience. Not that it’s not wrong or right. If it’s giving you a return, keep doing it. I have personally not been good at scaling that. We used to do direct mail. We don’t do it now. For a particular reason, we are thinking about doing very niche lists coming up but those are our primary channels. We also buy off wholesalers and fire-damaged houses. We have other little niches that aren’t as big as the cold calling SMS, RVM and Facebook.
What an incredible show. A lot there to unpack. If anything, you didn’t catch all of it the first time, go through it and read it again. A couple of resources. Foreclosures Daily or Probate Daily, check that out. Coupon code TTP. If you are interested in joining the most proactive group in real estate, it is the TTP family. The TTP program, go to WholesalingInc.com/ttp, check it out, scroll down, check out all the testimonials. Just like these guys, I worked personally with you and I would look forward to working with you. Thank you, guys. That’s so incredible. Everybody out there, as always, I love you and encourage you to talk to people until next time.
- Josh High – Instagram
- Tiffany High – Instagram
- Foreclosures Daily
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!