Posted on: July 05, 2021

In this episode, Lauren is joined by one of her Virtual Investing Mastery students, Alyssa Coffee. Alyssa started taking action in January of this year, educating herself and taking Lauren’s course. She has just recently closed her first deal, but she already has 4 contracts in her pipeline—all while balancing a full-time job.

Alyssa shares her experiences leading up to now, highlighting the importance of having a “get-go” attitude. Listen until the end for game-changing advice from her and Lauren if you’re already doing wholesaling or just starting out.

Key Takeaways

  • The difficulties of starting out in virtual investing
  • On being resilient in real estate
  • Have quality conversations with the sellers
  • Work with a joint venture partner (especially if you’re just starting out!)
  • Ways to streamline or scale your virtual business

RESOURCES:

If you are Ready to Explode Your Wholesaling Business, Click here to Book a Free Strategy Session with me right now!

Subscribe to Wholesaling Inc

Episode Transcription

Darren Bentley:
Hey guys. Darren Bentley here. And welcome to another episode of the Wholesaling Inc Podcast. And I hope you enjoyed your 4th of July yesterday. I hope you got to spend some real quality time with your family, with your friends, having some good conversations and eating some really good food. Before we get into today’s episode. As you know, we just finished a massive sale for the 4th of July, $1,000 off any one of our wholesaling mentorship programs. And we’ve gotten an incredible response. So I just wanted to thank and congratulate those of you who took action and took advantage of this incredible sale. All I can say is get ready for some next-level success in your life and in your business. We received hundreds of applications. So if you haven’t heard from us yet, please bear with us. Someone from our team will be reaching out to you as soon as humanly possible, but the response to the sale has just been overwhelming.
So again, please be patient. Someone will be contacting you shortly. Now we know with the 4th of July being yesterday, on a Sunday, that many of you may have missed out on this sale. People are on vacation. They’re partying with friends and family, having barbecues. All that fun stuff that we love to do to celebrate the 4th of July. So with the overwhelming response that we received last week and knowing that many of you may have missed out on this incredible opportunity, we’ve decided to extend the sale one more day. That’s right. We’re giving those of you who may have missed out one last chance to take advantage of this incredible deal. Actually, this is the first time that we’ve ever offered this big of a discount on all of our programs. Never before have we done that, and we may never do it again. So you got one more shot.
If you want to receive the best mentoring in the industry. If you want to fast-track your success. If you are tired of spinning your wheels and you just can’t figure out how to make this wholesaling thing work, the time is now. We’re going to help you get past all of that. But you have until midnight tonight to fill out that application for whichever program you’re most interested in. So I’m not going to break down all programs here. So if you want more info on the programs, you can either go back to Thursday’s podcast episode, where I talk a little bit about the programs, or visit wholesalinginc.com and just check out all the programs that we offer there and which one might be the best fit for you.
So again, to take advantage of this incredible offer, where you are getting $1,000 off the cost of tuition for any one of our mentoring programs, head over to wholesalinginc.com choose the program that you’re most interested in and schedule a call with us. If you are seriously considering this, I encourage you to stop this podcast and go to wholesalinginc.com and schedule your call right now. You don’t want to miss this last opportunity because we may never offer a discount like this again. So good luck. And let’s get into today’s episode.

Lauren Hardy:
What’s up Rhinos. This is Lauren Hardy, and you’re listening to the Wholesaling Inc Podcast. Today. I have Alyssa Coffee. She is one of my virtual students. She’s in my virtual coaching program, and Alyssa is going to talk about her getting started journey. She just closed her first deal. She is stoked. She’s got four more in the pipeline. And today, we are going to talk about the trials and tribulations of getting started and what it’s been like for her. What coaching has helped with and been like for her. And I want you guys to listen in carefully because I know that Alyssa is going to say some things that are going to resonate with you if you are new to this industry and you’re thinking about getting started. I want also Alyssa to talk about the game-changing advice or game-changing move she made in her business that went from she had zero contracts to her contract rate blew up. So I’m going to make sure we talk about that as well. So without further ado, Alyssa, welcome to the show.

Alyssa Coffee:
Hi everyone.

Lauren Hardy:
Hey, how’s it going?

Alyssa Coffee:
Great. Everything’s great.

Lauren Hardy:
Yeah. Well, it is going good for you. You’ve got a big pipeline going right now of deals, and you’ve really gained some traction.

Alyssa Coffee:
Yeah, yeah. It’s really picked up lately, and it’s definitely been a shocker, but just picked up all at once. But it’s definitely due to a couple of things. I changed my business for sure.

Lauren Hardy:
Absolutely. And we are going to get into that. But before I get started, tell us a little bit about yourself. Where are you from?

Alyssa Coffee:
Yeah, so I’m from South Jersey, a small town in South Jersey, and I actually just recently moved to Arizona. But when I started virtual, I was in South Jersey. So during the move, I’ve still been working virtual.

Lauren Hardy:
And you knew from the get-go you were going to go virtual because you knew you were moving?

Alyssa Coffee:
Yeah. Yep.

Lauren Hardy:
Right. Okay. And do you care to share? Why were you moving?

Alyssa Coffee:
We just really like it out here. We have been trying to do this for a couple of years. We have friends out here. We just love it. We wanted to get away from the east coast. So just purely out of just happiness, we really wanted to move out here.

Lauren Hardy:
Oh, I love it. Okay. So out of happiness goals. And happiness goals are very important. Okay. So that’s awesome. So you moved, but you are still in an east coast market, and you went virtual from the get-go. When did you first start this business?

Alyssa Coffee:
In January of ’21.

Lauren Hardy:
January. Okay. And when you first got started, did you start with any coaching, or did you try doing this on your own?

Alyssa Coffee:
I actually tried doing it on my own for the most part. My fiance does some wholesaling in South Jersey, but I wanted to try different market and do things on my own. But I hadn’t actually sought out any coaching. And then I found your coaching program.

Lauren Hardy:
Oh, okay. Got it. And I’m guessing because you knew you wanted to go virtual, so that’s why you stuck with us?

Alyssa Coffee:
Yeah.

Lauren Hardy:
[inaudible 00:06:52]. We’re glad to have you. So when you were trying to do it at first, what was your experience, like your first few months of trying to do this business?

Alyssa Coffee:
I wasn’t consistent. The responses that I was giving weren’t great. My script wasn’t great. I wasn’t able to lock up anything. So after I joined the course and actually learning how to go through the process, that’s when things started to happen.

Lauren Hardy:
Yeah. And you were on every single call. I mean, you were the perfect student. You were [inaudible 00:07:21] participating. You’re on every call. I knew you were doing exactly what I said, and you were taking action. I love it. You really had a whatever it takes mentality. I remember that at first you were struggling. You were taking action, I think, for several months, and you hadn’t locked up any contracts. So let’s talk about that. First, what were you doing for marketing?

Alyssa Coffee:
So I was texting.

Lauren Hardy:
Okay.

Alyssa Coffee:
Just mass texting. That’s all I was doing. And there was some instances where I was sending out contracts, and my sellers would ghost me, or they would tear me apart about the contract. And I would have to figure out how to react to that situation.

Lauren Hardy:
Yeah. You were tough, though. You were getting some crazy situations handed at you, and you were just figuring it out. Whatever it takes, you would come, and you would ask the questions, and we’d say, “Okay, go say this.”

Alyssa Coffee:
Yeah.

Lauren Hardy:
“Get back on the phone and say this.” And you were going to make it happen. But so at first though, I do recall, there was a good period of texting and taking action, and you weren’t getting any deals or contracts or anything. And I think that this will resonate with anybody who’s getting started. You don’t just get your first contract the first week you start. That maybe happens to some people. They’re the exception, not the rule. How long from when you were taking appropriate guided action to getting your first contract, how many months did that take?

Alyssa Coffee:
Yeah, so started in January and closed on my first deal in May. So it was about five months.

Lauren Hardy:
It took five months.

Alyssa Coffee:
Yeah.

Lauren Hardy:
It took five months. And I think because at first it was getting your education.

Alyssa Coffee:
Mm-hmm (affirmative).

Lauren Hardy:
Right. And you were taking action after that. And what were you running into? Sellers ghosting you, weird situations, sellers saying things that freaked you out?

Alyssa Coffee:
Yeah. Yeah, definitely. There were a couple of times I sent out contracts, and I wouldn’t hear back. There were some times where sellers would tear apart the contract. They didn’t agree with it. Maybe they had been burned by wholesalers in the past. So I had to learn how to react to that. And then that time is when I actually asked a couple of questions on the call during your course. And that actually helped me go through that situation.

Lauren Hardy:
Yeah. And I remember you just had this… you would not give up. No matter what you were not giving up. And I love that. So then what happened? Because all of a sudden, the pieces came together, and it was like Tetris where all of a sudden all… you got all the contracts at once. So tell about us that.

Alyssa Coffee:
I remember you repeatedly saying a couple of times during a couple of calls to broaden your net. And so I decided, let me just try this. Let me just go out into the suburbs and broaden my net and see what happens. And I wasn’t really even sending a lot of texts. I was sending out like maybe 500 to 600 texts in that suburb area. And then, all of a sudden, things just started to really pick up from there when I actually really widen that net.

Lauren Hardy:
Right. Okay. So basically, the first pond you were fishing in was just highly competitive.

Alyssa Coffee:
Yeah.

Lauren Hardy:
Too many wholesalers already.

Alyssa Coffee:
Mm-hmm (affirmative).

Lauren Hardy:
Not enough motivation in that pond. Not enough motivated fish. If I can [inaudible 00:10:23] a little illustration for you guys. These were already fat fish. They were not motivated. So then you went to another pond right next door, not even that far. And it was like a-

Alyssa Coffee:
Right.

Lauren Hardy:
… completely different real estate environment.

Alyssa Coffee:
Yeah. Yep. Exactly.

Lauren Hardy:
Okay. And what was the other game-changing process that you changed in that time?

Alyssa Coffee:
Yeah. So with texting, I really just wanted to squeeze as much out of that as I could and try to have better conversations with the sellers. So originally, I was doing like a thousand to 1500 texts. And then I was like, “Let me just back it down to a couple hundred and really focus on having quality conversations with the sellers and even just trying to interact with them better.” So I backed it down to five, 600 texts. And then even people who were saying rude things or not interested, I was still trying to initiate some type of conversation there like, “Okay, well, do you know anyone else that might be interested in selling or do you have any other properties that you might be interested in selling?” So a lot of times I was able to generate leads from referrals that they… of other people that they knew. And then multiple times, there was properties where they had… they weren’t interested in selling that property that I referred to, but they had other properties that they were looking to sell.

Lauren Hardy:
Oh my gosh. Yeah. So it wasn’t going bigger and getting a bigger list. It was working with your existing list that you had and just trying to squeeze more out of it.

Alyssa Coffee:
Yeah.

Lauren Hardy:
So that’s a good tip, guys. I love [inaudible 00:11:52] practical tips on my podcast. So that’s one. Write that down. And you also made some different partnerships. We talk a lot about JV partners. I talk about JV partners a lot in my content, in my coaching. That JV partners are very crucial to your business. Working with the right people, especially as you’re getting started. It’s the difference between making your business and breaking your business. And it seemed like that was for you, right. You met the right person.

Alyssa Coffee:
Yeah. He’s super helpful. And I still work with him. He’s very responsive. There was a little bit of troubles with him just getting back to me in time with certain things. And I think that’s just because he hadn’t worked with the JV before. But that’s why I like how you say find at least three JVs because then you have backups, and you’re not married to one person when it comes to that. So I have multiple contacts now, and it’s nice to be able to disperse it between multiple people.

Lauren Hardy:
Yeah. If you guys get anything out of this podcast, another quick tip is honestly work with a JV partner when you first get started. I think it’s our egos that get in the way, and we think, “Oh, I can do this myself, and I don’t need a JV.” And it is the worst thing you can do for yourself because your JV partner is going to cut that learning curve for you. And you’re going to learn so much from them that it’s worth it to split the fee at first for your first few deals. I say do five to 10 with a JV until you feel really comfortable in your business, and then start building that buyers list. And when you’re ready to go solo, you’ll know. It’ll come to you organically.

Alyssa Coffee:
For sure.

Lauren Hardy:
Yeah. So you’re killing it, and as it stands right now, you closed your first deal, and you’ve got four in the pipe.

Alyssa Coffee:
Yeah. Yeah. So I’m expecting my next one to close in about two weeks. So just waiting on some title issues. But other than that, I’m pretty excited.

Lauren Hardy:
That is so exciting. Do you have a full-time job right now, or is this your full focus?

Alyssa Coffee:
I do. I do have a full-time job. I’m trying to… my goal is to really make enough to where I can drop down at least part-time so I can focus more on my business. And then that way, I still have some income from my full-time job to be able to provide for marketing and stuff like that. So I’m working my full-time job. And then the second I’m done that I just switched over to a different laptop and start working on [crosstalk 00:14:18]-

Lauren Hardy:
Oh my gosh. Are you working from home?

Alyssa Coffee:
Yeah. Yep

Lauren Hardy:
Okay. And so, how many hours a day are you working your wholesale business?

Alyssa Coffee:
I’m working probably five to seven.

Lauren Hardy:
Five to seven a day?

Alyssa Coffee:
Yeah.

Lauren Hardy:
So you go from your full-time job and then you’re working at night?

Alyssa Coffee:
Yeah. Yep.

Lauren Hardy:
I think that that just helps people. But are you working now every day?

Alyssa Coffee:
Yeah. Every day.

Lauren Hardy:
You are hustling right now.

Alyssa Coffee:
Yeah.

Lauren Hardy:
I think you’re in that period of the hustle that you have to do kind of at first to get any business going.

Alyssa Coffee:
Yeah.

Lauren Hardy:
That’s awesome. What do you think is the next step for you? What do you think I could help you with right now where you’re at as far as any advice I can give? Do you have any questions for me?

Alyssa Coffee:
Yeah, I guess my main thing is… Well, I actually started reading Profit First because I wanted to see how to handle all of the income and how to delegate it. But from there, I kind of want to see how can I take some stuff off my plate? Possibly hiring a VA. But I do want to get to a certain point to where I have enough money saved up to be able to pay that VA. So that’s kind of what I’m thinking might be the next step.

Lauren Hardy:
I was going to say we need to make that seven hours three.

Alyssa Coffee:
Yeah.

Lauren Hardy:
So I think the first thing, a good bookkeeper wouldn’t cost you very much. You might want to look into getting a bookkeeper since you’re talking about profit first. There are a ton of bookkeepers. I have a recommendation who I use so I can give you that, and that’ll take that off your plate. The next thing would be absolutely getting some kind of lead generation VA. So if you’re doing texting or cold calling, getting somebody to do that for you, so you don’t have to do it.

Alyssa Coffee:
Yeah.

Lauren Hardy:
And then you work just the acquisition. So I think of the lead gen VA like they’re fishing. They’re catching the fish, they’re throwing them at you. They’re not doing too much qualification. They’re just giving you anybody who raises their hand and says yes. And then you handle the lead from that point and have the conversations with them.

Alyssa Coffee:
Yeah. Yeah. I would love that because I know it would save a lot of time so…

Lauren Hardy:
Yeah, I would take a good, probably three hours out of that day…

Alyssa Coffee:
Yeah.

Lauren Hardy:
… at least. So then you can just focus on getting the contracts and then selling the contracts. And then you just kind of keep moving up, right. Then you hire somebody to do acquisitions, and then you start building the buyer’s list on your own. So you’re not JV-dependent.

Alyssa Coffee:
Okay.

Lauren Hardy:
Those are… that’s kind of the next step from there.

Alyssa Coffee:
Yeah, that sounds great to me.

Lauren Hardy:
Yeah. And usually, with expenses, I say it’s everybody’s personal opinion how many months of the salary they need save. But maybe have at least three months saved that you could pay this VA.

Alyssa Coffee:
Okay.

Lauren Hardy:
Because if it doesn’t work out, it doesn’t work out. You let them go. But you don’t need six months because you’ll know after three weeks if the person’s going to work out or not.

Alyssa Coffee:
Okay. That makes sense. Yeah.

Lauren Hardy:
That means just hire another one.

Alyssa Coffee:
Right. Yeah [crosstalk 00:17:16]-

Lauren Hardy:
So that’s the easiest hire to make is a virtual assistant to help you with lead generation. But you have to train them.

Alyssa Coffee:
Right.

Lauren Hardy:
Give them the scripts, and make sure you listen to them. But you are definitely on your way to scaling a little bit to help you out. So I’m super proud of you, Alyssa. Do you have any advice for those who are listening and just getting started?

Alyssa Coffee:
Yeah. I mean, I guess I would say just keep grinding it out. I know it kind of sucks sometimes having sellers yell at you, or sometimes you feel like you can’t do it, but I would just say keep putting in the hours, and it will happen.

Lauren Hardy:
Absolutely. Alyssa really didn’t give up. I mean, you were like, “I am not letting this go. I am not going to give up,” and it’s paying off. So I’m super, super proud of you. And if those who are listening want to go virtual. You want to do this business in a virtual market. I’ve got an awesome coaching program that Alyssa’s in. Check out www.virtualinvestingmastery.com. Now more than ever, I am seeing that going virtual is a very important skill. Just like Alyssa mentioned, the market that she first was working in is a metro. It’s not the most… I wouldn’t even think the biggest city in the US. It’s not your first place that people think to go to, but just that was already saturated. And I’m hearing this more and more that the major metros across the nation are just so saturated with other investors.
And so it’s forcing everybody to go virtual. I never had before students saying that they were maybe, in say like Atlanta or Oklahoma City and they want to go virtual in those city. They’re like, “I’m from those.” So those are normally the cities people go to, to go, and now they’re like, “No, I want to get out, and I want to go virtual to a smaller suburb that’s a couple hours away because the competition factor.” So it’s good that you made that shift, and it completely changed your business.

Alyssa Coffee:
Exactly.

Lauren Hardy:
Super proud of you. All right, guys. Well, thank you, Alyssa, for coming on the show. I’m sure you gave some good tips, and I’m sure the listeners are going to get a lot from this episode. So we really appreciate you sharing your journey.

Alyssa Coffee:
Thank you so much for having me. Appreciate it.

Lauren Hardy:
All right, guys. Thank you so much for listening, and I’ll see you next time.

Leave a Reply

Your email address will not be published. Required fields are marked *

Wholesaling