You have to take action now. With determination and commitment, you are headed towards success. So no matter what happens, do not give up. 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 four contracts in her pipeline—all while balancing a full-time job so that she could provide for marketing and other expenses. Alyssa shares her experiences in sending out contracts and how to react to different situations, highlighting the importance of having a “get-go” attitude. If you’re already doing wholesaling or just starting, tune into this episode for game-changing advice to get ready for the next level of success in your life.
The One “Game Changing Shift” That Totally Transformed This Wholesalers Business With Alyssa Coffee
Welcome to another episode of the show. Before we get into this episode, as you know, we finished a massive sale for the 4th of July, a $1,000 off any one of our Wholesaling Mentorship Programs and we’ve gotten an incredible response. I 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 business. We received hundreds of applications. 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 been overwhelming. Please be patient. Someone will be contacting you shortly.
We know what the 4th of July being 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 and all that fun stuff we love to do to celebrate the 4th of July. With the overwhelming response that we received and knowing that many of you may have missed out on this incredible opportunity, we’ve decided to extend the sale one more day. We’re giving those of you who may have missed out one last chance to take advantage of this incredible deal. This is the first time that we’ve ever offered this big discount on all of our programs. Never before have we done that and we may never do it again. You got one more shot.
Taking Action: Learn how to react to different situations. There are times when you are being rejected or ignored. But you have to know how to continue moving forward.
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 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. I’m not going to break down all the here. If you want more info on the programs, you can either go back to the episode where I talk a little bit about the programs or visit WholesalingInc.com and check out all the programs we offer there and which one might be the best fit for you.
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 you’re most interested in and schedule a call with us. If you are seriously considering this, I encourage you to stop reading 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. Good luck. Let’s get into our episode.
What’s up, Rhinos? I have Alyssa Coffee. She is one of my virtual students. She’s in my Virtual Coaching Program. She is going to talk about her getting started on the journey. She just closed her first deal. She is stoked. She’s got four more in the pipeline. We are going to talk about the trials and tribulations of getting started. What has it been like for her? What has coaching helped with and been like for her?
I know that she 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 also want Alyssa to talk about the game-changing advice or move she made in her business that went from having zero contracts to her contract rate blew up. I’m going to make sure we talk about that as well. Without further ado, Alyssa, welcome to the show. How’s it going?
It is going well for you. You’ve got a big pipeline going of deals and you’ve gained some traction.
It’s definitely been a shocker, but it picked up all at once. It’s definitely due to a couple of things I changed my business.
We are going to get into that, but before I get started, tell us a little bit about yourself. Where are you from?
Take action and develop that “whatever it takes mentality.”
I’m from a small town in South Jersey. I moved to Arizona, but when I started virtual, I was in South Jersey. During the move, I’ve still been working virtually.
Did you know from the get-go you were going to go virtual because you knew you were moving?
Do you care to share why you were moving?
We like it out here. We have been trying to do this for a couple of years. We have friends out here. We love it. We wanted to get away from the East Coast. It’s purely out of happiness that we wanted to move out here.
Happiness goals are very important. 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?
In January of ’21.
When you first started, did you start with any coaching or did you try doing this on your own?
I tried doing it on my own for the most part. My fiancé does some wholesaling in South Jersey, but I wanted to try different markets and do things on my own. I hadn’t sought out any coaching and then I found your coaching program.
I’m guessing because you knew you wanted to go virtual, so that’s why you stuck with us. We’re glad to have you. What was your experience in your first few months of trying to do this?
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. After I joined the course and learning how to go through the process, that’s when things started to happen.
You were on every single call. You were the perfect student. You’re always participating. You’re on every call. I knew you were doing exactly what I said. You were taking action. You had a “whatever it takes” mentality. I remember that at first, you were struggling. You were taking action for several months and hadn’t locked up any contracts. Let’s talk about that. First, what were you doing for marketing?
Taking Action: Working with the right people is crucial to your business, especially as you’re getting started. It’s the difference between making your business and breaking your business.
I was mass texting. That’s all I was doing. There were some instances where I was sending out contracts, and the sellers would ghost me or tear me apart about the contract. I would have to figure out how to react to that situation.
You were tough. You were getting some crazy situations handed at you were figuring it out. Whatever it takes, you would come and ask the questions. We’d say, “Get back on the phone and say this.” You were going to make it happen. At first, though, I recall there was a good period of texting and taking action and you weren’t getting any deals or contracts or anything. I think that this will resonate with anybody who’s getting started. You don’t get your first contract the first week you start like that. Maybe it 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?
I started in January and closed on my first deal in May. It was about five months.
At first, it was getting your education. You were taking action after that. What were you running into? Sellers ghosting you, weird situations, sellers saying things that freaked you out.
Yeah. 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. I had to learn how to react to that. That time is when I asked a couple of questions on the call during your course and it helped me go through that situation.
It was like, no matter what, you were not giving up. All of a sudden, the pieces came together. It was like a Tetris where you got all the contracts at once. Tell us about it.
I remember you repeatedly saying a couple of times during a couple of calls to broaden your net. I decided, “Let me try this. Let me go out into the suburbs and broaden my net and see what happens.” I wasn’t even sending a lot of texts. I was sending out maybe 500 to 600 texts in that suburb area. All of a sudden, things started to pick up from there when I widened that net.
Basically, the first pond you were fishing in was highly competitive, too many wholesalers already, not enough motivation in that pond, motivated fish. If I can draw a little illustration for you guys, these were already fat fish. They were not motivated. You went to another pond right next door, not even that far. It was a completely different real estate environment. What was the other game-changing process that you changed at that time?
You may not be great at first. But in business, you have to learn how to go through the process. That’s when things start to happen.
With texting, I wanted to squeeze as much out of that as I could and try to have better conversations with the sellers. Originally, I was doing like 1,000 to 1,500 texts. I then was like, “Let me back it down to a couple hundred and focus on having quality conversations with the sellers and even trying to interact with them better.” I backed it down to like 500, 600 texts. Even with people who were saying rude things or not interested, I was still trying to initiate some type of conversation.
They’re like, “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?” A lot of times, I was able to generate leads from referrals. They have other people that they knew. Multiple times there were properties where they weren’t interested in selling that property that I referred to, but they had other properties that they were looking to sell.
It wasn’t going bigger and getting a bigger list. It was working with the existing list that you had and trying to squeeze more out of it. That’s a good tip. I love getting practical tips on my show. You also made some different partnerships. 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 is the difference between making your business and breaking your business and it seemed like that was for you. You met the right person.
He’s super helpful and I still work with him. He’s very responsive. There were a little bit of troubles with him getting back to me in time with certain things. I think that’s because he hadn’t worked with a JV before, but that’s why I like how you say, “Find like at least three JVs because then you have like backups and you’re not married to one person when it comes to that.” I have multiple contacts now and it’s nice to be able to disperse it between multiple people.
If you guys get anything out of this show, 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. We think, “I can do this myself and I don’t need a JV.” It is the worst thing you can do for yourself because your JV partner is going to cut that learning curve for you. 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 5 to 10 with a JV until you feel comfortable in your business and then start building that buyers list. When you’re ready to go solo, you’ll know it’ll come to you organically. You’re killing it. As it stands right now, you closed your first deal and you’ve got four in the pipe.
I’m expecting my next one to close. I’m just waiting on some title issues but other than that, I’m pretty excited.
Do you have a full-time job now or is this your full focus?
I do have a full-time job. My goal is to make enough to where I can drop down at least part-time so I can focus more on my business. That way, I still have some income from my full-time job to be able to provide for marketing and stuff like that. I’m working my full-time job. The second I’m done with that, I switched to a different laptop and started working on it.
Taking Action: Handle income and learn how to delegate. The next step would be to hire a virtual assistant to help you get things off your plate.
Are you working from home?
How many hours a day are you working your wholesale business?
I’m working probably 5 to 7.
You go from your full-time job and then you’re working at night?
I think that helps people, but are you working now every day?
You are hustling right now. I think you’re in that period of the hustle that you have to first to get any business going.
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?
I started reading Profit First because I wanted to see how to handle all of the income and delegate it. From there, I want to see how I can take some stuff off my plate? It’s possibly hiring a VA, but I do want to get to a certain point where I have enough money saved up to be able to pay that VA. That’s what I’m thinking might be the next step.
We need to make that 7 hours 3. The first thing is 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 for who I use. I can give you that and that’ll take that off your plate. The next thing would be absolutely getting some lead generation VA. If you’re doing texting or cold calling, getting somebody to do that for you. You don’t have to do it. You work the acquisition. I think of the lead gen VA like they’re catching the fish and throwing them at you. They’re not doing too much qualification. They’re giving you anybody who raises their hand and says yes. You handle the lead from that point and have those conversations with them.
I would love that because I know it would save a lot of time.
That would probably take three hours out of that day. You can focus on getting the contracts, selling the contracts and keep moving up. You hire somebody to do acquisitions and then you start building the buyer’s list on your own. You’re not JV-dependent. That’s the next step from there.
That sounds great to me.
It’s everybody’s personal opinion how many months of the salary they need to be saved, but maybe have at least three months saved that you could pay the VA. If it doesn’t work out, it doesn’t work out. You let them go, but you don’t need six months. You’ll know after three weeks if the person’s going to work out or not. Just hire another one. That’s the easiest hire to make is a virtual assistant to help you with lead generation, but you have to train them. 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. I’m super proud of you, Alyssa. Do you have any advice for those who are reading and getting started?
Sometimes, you need to educate yourself or have a mentor to teach you to advance in your career.
Keep grinding it out. I know it sucks sometimes having sellers yell at you or sometimes you feel like you can’t do it, but I would say keep putting in the hours and it will happen.
Alyssa didn’t give up. You were like, “I am not letting this go. I am not going to give up,” and it’s paying off. I’m super proud of you. If those reading wants 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.
As Alyssa mentioned, the market that she first was working in isn’t the metro. I wouldn’t even think the biggest city in the US. It’s not your first place that people think to go to, but that was already saturated. I hear more and more that the major metros across the nation are so saturated with other investors. It’s forcing everybody to go virtual. I never had before students saying that they were maybe in Atlanta or Oklahoma City and they want to go virtual in those cities.
Those are normally the cities people go to. Now they’re like, “I want to get out and go virtual to a smaller suburb that’s a couple of hours away because of the competition factor.” It’s good that you made that shift and completely changed your business. Thank you, Alyssa, for coming to the show. I’m sure you gave some good tips. The readers are going to get a lot from this episode. We appreciate you sharing your journey.
Thank you so much for having me. I appreciate it.
Thank you so much for reading. I’ll see you next time.
About Lauren Hardy
Lauren Hardy is a Virtual Investing expert and Real Estate influencer who owns multiple companies in the real estate industry including real estate investment, coaching, and software companies. She is also a Wholesaling Inc coach and co-host of the Wholesaling Inc Podcast.
Her experience in the last decade has been focused on real estate investing and creating products and services to serve the real estate investing community. If you are interested in investing in real estate virtually, house flipping, or virtual landlording, Lauren’s your girl.