The real estate business is fiercely competitive. Most first-time real estate agents fail within the first five years, and one of the main reasons is that they cannot market themselves effectively. When you venture into the world, it is essential to find a niche that best suits you. And it’s best to pick a niche in the real estate industry whose audience shares the same interests as you. The better you understand your prospective buyers, the easier it will be for you to hold onto their needs and give them what they desire.
In this episode, let us find out how real estate master Philip Vincent uses a unique marketing method to generate over 1000 leads and how he does it for FREE.
The Unique Marketing Method that is Producing 1000 Leads Per Month… for FREE!
I did it wrong. I put my foot in my mouth over and over again. I showed up with this personality. I walked in the front door and said, “I’m Philip. I’m an investor and I buy houses from old people moving into nursing homes.” In that sentence, I said at least three things that will get me kicked out.
Welcome to the Wholesaling Inc. podcast, America’s number one podcast for new real estate investors, where we know that finding discounted properties is the most proven path to financial freedom. I am your host, Brent Daniels, Mr. TTP, Mr. Talk To People. If I can do it, so can you. Let’s get started. Let’s get excited. Do you all those people that are out there saying, “There are so many people that know about wholesaling. There are so many people that know about real estate investing. Real estate is hot right now. There are not enough leads to go around. There are not enough opportunities.”
Maybe a little bit of pessimism. Maybe they’re hearing this or maybe you’ve heard this. I’m not saying that you’re saying this, but maybe you’ve heard this. If you’re reading this, maybe that’s the word on the street. Maybe you’re not sure if you want to get into this industry right now. Maybe it’s a bubble. Maybe something’s going on. Let me shut all that down. Let me clear the field for you so that you can go and sprint into this business and live your dream of being a real estate entrepreneur.
On this podcast, I’m going to have a conversation with a gentleman out of St. Louis who is getting over 1,000 leads a month. Not only that, he gets 1,000 leads a month for free. He has so many leads, and he doesn’t know what to do with these leads, and nobody else is generating leads the way that this guy is doing it. It is so exciting. I’m thrilled to break this down. I’m going to put him in the hot seat so that we can understand what he’s doing. I know that he’s up for it because he’s a phenomenal real estate entrepreneur. It is my pleasure to bring the owner of the company Mom’s House, Phillip Vincent, to the Wholesaling Inc. podcast.
Brent, thank you for having me on your show. I’m looking forward to this.
I’m excited about it. With that introduction, this is exciting. You’re getting over 1,000 leads a month and essentially, what these are coming from is referrals from your network but they’re targeted and specific leads. Can you break down what you’re doing out there in St. Louis and give us some instruction on maybe how we can take advantage of this or find a way to build this network ourselves in our own market?
My business and system is networking inside the senior living industry to work with those people, those stakeholders in senior living to help them unlock the equity for these families when they’re moving their mother into senior living. If that is the moment, the flashpoint when the family says, “We need to sell this house. Mom has a $2,200 a month pension. This place we’re picking is $8,000 a month.” You’re looking at your most affluent brother and go, “Are you paying the difference? We need to sell the house.” They realize that and so that’s the thing about it.
People are very collaborative when they know and trust you.
I don’t have to convince them of motivation. A doctor said, “Mom can’t move back home. He has to move into 24-hour care.” That is the moment. You asked me a question about how these leads come here, the senior living industry trusts me to take care of these families and it happens on a nationwide level. Why we’re on the show is I need help. I need people that I trust. We’re going to say that word a lot today. I need trusted investors nationwide to help me with these leads.
How do you find these leads? Before we get into somebody getting into relationships with you, maybe we people want to go out there and do this themselves. How do you build a network? How do you build these relationships to be able to get those referrals at that perfect time? The timing is right. They need to sell these properties right away. They need to get rid of them. How do we build those relationships with people in our communities?
I was tasked with finding my own leads back in 2011. For every deal that we did via direct marketing, all the hits the direct mail, the pay-per-click, all those things, we were going to do one other deal via relationship building. I started to look at the stereotypes of what our sellers were. Do you buy houses from 28-year-olds often or 82-year-olds? It’s always senior guys. You’ve been working on these kinds of leads but you haven’t prioritized or systematized this yet.
I want to be clear about a couple of things. I am not talking about taking a single-family home and turning it into a residential assisted living community. That’s not what I’m talking about. Those guys are great and it’s every person that moves into those communities, whether they be a small box or a big box community that’s the flashpoint of the families needed to move in.
Back in 2011, I said, “Is anybody going directly to the senior living industry and building these relationships?” I was told no and they said, “You should go do that.” I went out and did it wrong. I did it wrong. I did it wrong. I put my foot in my mouth over and over again. I showed up with this personality. I walked in the front door and said, “I’m Philip. I’m an investor and I buy houses from old people moving into nursing homes.” In that sentence, I said at least three things that will get me kicked out.
I didn’t know that at the time but I was like, “This industry, I knew it was peanut butter and chocolate, I had to figure it out.” I kept coming back. My stubbornness kept me coming there. They are collaborative Brent, when they know, like, and trust you. Now, I don’t show up as an investor and I don’t show up as a real estate agent but I show up with something called a Senior Transition Specialist to help with not only the house but we’re going to talk a lot about the stuff.
If you guys aren’t thinking about the stuff in your real estate business, you’re missing the mark. When you stop by someone’s forever home, the house might be the easy part but it’s the memories and the stuff that is the hard part. If you can be a solution from the treasurer’s down to trash, you can be a lot more valuable to the families and you’re going to buy more houses.
That is a huge thing. My grandma, fortunately, is wonderful. She lives next door to me now, which is a senior living facility but she has a vacant house on the other side of town filled with stuff. This is real life. This is right now. She’s paid it off and that’s fine but there are still costs. She still keeps the utilities on. She’s still making sure that she’s paying for her security, her alarm system, and everything there. There’s some general cost involved there but it’s a whole house full of stuff. What are we going to do with it?
Would you say grandma’s affluent?
She’s lucky that she has that asset sitting there. Most Americans can’t afford to do that. As soon as that moment where they start paying $6,000, $7,000, $8,000 a month for the care, they have to sell the house. Before your grandmother would ever be eligible for things like Medicaid and those types of things, she would have to spend down that house. The problem right now is that people are outliving their money. We keep talking about there’s no inventory. I was reading an article the other day in the Wall Street Journal, and it said OK Boomer, Who’s Going to Buy Your 21 Million Homes?. It talks about the next twenty years or so for 21 million Boomers, their parents are going to move into senior living or they’re going to move into senior living.
Here’s the best stat, 7 out of 10 Americans over the age of 65, are going to live in some assisted care before they pass away. We always talk about probate. That probate is the smell niche. This pre-probate situation is the majority of Americans. They’re going to need to sell that house before they ever qualify for Medicaid or ever passed away. This is the flashpoint of when they’re going to need to sell.
Are you building relationships with the sons, daughters, and caretakers of these people? Are you building relationships with where they’re going? How does this whole process work? Let’s say that they need to sell the property to get the equity out of that to be able to pay the monthly cost for this senior living facility. Who do you talk to? What relationship are you building there? I feel like it could be anybody.
Daughter, Judy, and brothers, the ones taking care of mom, are hard to find for a few reasons. They’re spread out. The average child lives over 400 miles away from their parents, so it’s hard for me to network in Cincinnati to catch someone in St. Louis. I don’t have that money for branding. You asked me, “Is it in-home health care?”
It’s not only because I’ve not done well with the baton pass from them losing a customer to me gaining a customer. Their bad day is my good day in in-home health care. What has helped me is if Brent and Phillip were brothers and we get a text today that mom fell down and we have to start exploring senior living communities. We don’t take a healthy mom to go explore senior living communities.
As soon as they start looking for senior living communities, that’s the flashpoint of when the families need to start thinking about selling their house. It usually goes in order. They get bad news 3 or 4 times and then I get to come in and do something good. Mom fell down. That’s not great. The doctor said that she was going to have hip surgery. She’s got to be in rehab for three weeks and when she gets out, she can’t move back home. The place we picked out is $8,000 a month. The finance director was like, “How are you guys going to pay for this?” We’re like, “I don’t know. We’re scrambling.”
The realtor comes in. Yes, people talk to realtors. I love realtors because they say, “Clean this place out and do this list of demands before I put my precious face next to it.” They’re going, “I don’t even live in town. I don’t even live here. I flew in this weekend to figure this out and there’s got to be a better way.” That’s how Mom’s House was born. Treat people fairly. That’s it.
Philip, I’m not joking here. We did not discuss this before the show. My grandma fell down, broke her hand in the middle of the night. My mom got a call. For two weeks, my mom was so frazzled, and she had a big engine. She can do a lot. She’s productive. She was wiped out. Two of my uncles, her brothers, live out of town. I’ve got one here and she’s got a sister here, my aunt Dixie and herself.
They’re trying to figure out all of this stuff. Where is she going to live? Who’s going to be around? Who’s going to help out? What is happening? All of these things. This is real life. This podcast skews to a younger crowd, so maybe you’re not experiencing a lot of this right now, but this is happening. I can’t imagine how many times a day. You said 21 million houses over the next twenty years or so.
For anybody that’s reading who is young, let me ask you guys this question. When you guys are doing your direct mail, do you do this list? Over the age of 65, who have lived here for more than twenty years who has 100% equity? That’s who you’re sending letters to and postcards. Why are you sending to that list? It’s because you’re spraying rain in the hopes that it’s that moment. By the way, I wait for the moment. My leads come to me and they say, “We’ve got to sell now, Phillip.” In sales, you don’t want to be too early and you want to be too late. What’s the key to direct mail? Never turning it off. With this, I’m waiting for them to say, “We need to sell now.”
It’s not in-home health care. It’s not daughter Judy. You asked me who it is. Let’s go into that. People, daughter Judy, should ask your mom tonight, “Mom, who are you getting advice from during that time.” There’s something called ADLs Activities of Daily Living. I’m not trained in it. I know a little bit to talk a little bit about it. It’s five things that you have to do to take care of yourself. If you can’t do two of them, bathe yourself or feed yourself or do your medications, you have to move into senior living.
You need to have a different set of empathy, and you have to put other people first. The money will follow.
I’ll tell a joke. I used to be able to put my pants standing up and now I sit on the bed to do it. I’m going, “Am I 180 all the way?” This stuff goes fast. Your mother, when she went out for your mom, unless she’s a nurse, wasn’t trained in knowing what level of care she needs. When you go to those experts that are trained in that and that person says, “You should call Philip. He’s the most trusted buyer in town.” They put me on a pedestal.
I say, “My close rates through the roof, so people are like, ‘You’re a great negotiator.’” It’s because I’m probably good at sales but I don’t work crappy leads. I work on leads that are motivated, have equity, need to sell, were referred from someone they’re getting their mom’s end-of-life care from. Think how important that is. That’s why my close rate is so high. It’s because I’ve worked on a better lead.
Is that somebody finding you online?
No. I find them. I go out into the wild. My network is as much in senior living as I do in real estate. I always say this analogy. Think of the last REA that you went to. Everybody’s showing the size of their check. Everybody’s on Facebook showing their checks. I’m guilty of it, too. We all show our checks. I’ve never worked in senior living for eleven years now. Not one person has ever shown me the size of their check. It’s a different world, you have to have a different heart condition and a different set of empathy. You have to put the person first then the money comes.
For everyone reading right now, if you’re transactional, this is not for you. If you put people first, you can build a sustainable business that comes to you for the next twenty-plus years. For me, that’s it. I built a business that comes to me. I don’t do direct marketing at all anymore. I know the peril of spending $10,000 on direct mail and laying on the pillow going, “I sure hope I get that money back.”
For everybody reading, you guys are debating right now, “I want to be in real estate,” but you’re getting into the marketing business. You’ve got two options. Do you want to be in marketing or do you want to build relationships with the right people? A lot of people talk about building relationships with real estate agents and wholesalers. That’s a great thing to do. That’s a phenomenal thing to do. What I found over my twenty-year or so career is, it’s hard to keep the attention of a real estate agent for long because they start figuring out what I’m making. They start figuring out, “I should do that myself.” They start getting other investors involved and then the wholesalers get smarter and smarter. They start doing their own deals.
With senior living, it’s an oil well that’s continued to pump deal after deal. I was telling you earlier about my downsizing guy. He sent me two deals. He’s got a house full of stuff. He’s a downsizing guy, which by the way, your mother probably at least explored, “What are we going to do with all grandma’s stuff?” Let’s go through some of the job titles, so everybody knows. In the community, there’s the proprietor, the person that owns it. There’s the executive director.
That’s the owner of the facility, the house, or whatever.
You’ve got the executive director. The executive director is the person that runs everything. They’re like a school principal. They’re hard to catch. Let me point this out. Please, nobody reading thinks that I walk in the front door and put my hand out and say, “I buy houses.” Please know that’s not how this is done. That executive director is busy. It’s going and talking to a surgeon while they’re in surgery. Do not do it that way.
You’ve got your finance director. What’s cool about the proprietor in the finance director? Out of everybody we talked about, those are the only two people you can have a money conversation with, proprietor and finance director. Everyone else, get ready to say, from now on, it’s a care, care, care, and more care. You better care about care. They’re not going to care to know who you are until they know how much you care. I love that line. You got the marketing director, the person who does the walk-ins. Some communities have a social worker, also known as a care manager, and all those people live inside the community.
Outside the community, whom I like more are the vendors. Did you guys know that there’s something called a placement agent? A placement agent is a real estate agent for the senior living world. Brent, if you and I were having to do this with your own mother, and we were brothers, I’d say, “We’ve got to find a placement agent. They’re going to know based on mom’s socio-economic geography, level of care, and all these things.” They’re going to say, “These are the five places we should go visit.” Me and you have no stinking idea. The placement agents are sitting there in the living room with the families, with the kids who flew into town, and they’re looking around.
A placement agent gets paid for placing people who’d have thunk it. The thing that slows a placement agent down from getting paid is unlocking the equity out of the house. It’s in their best interest to refer to me because they want everybody to show up with a bag of cash. Not a problem. You’ve got your downsizing experts and your eldercare attorneys. Notice I said eldercare. Not traffic law, not family law, not criminal law.
For eldercare attorneys, you’ve got your geriatric care managers and you got your hospitalist. These people are the ones over the past couple of years that I’ve built relationships with that know, like, and trust me. If you had twenty people that knew who you were in your market, you could do 20 to 40 deals a year in your market, with twenty relationships, not 200. It’s the 20 to 40 of the best deals. It’s not just any deals. I can probably talk to ten families a month and I buy 3 or 4 houses.
Do you find eldercare attorneys, placement agents, the proprietors, the owners of the business, and the finance director and say, “This is a service I provide.” Do you send them something first? Is there a booth where you could buy it?
There are senior fairs all the time. I used to think I needed to get booths several years ago. My free advice is you never need the booth. You want to talk to all the people in the booths. Attend them. There’s as much networking going on in senior living in your towns as there is in real estate, which is hiding in plain sight. You just haven’t looked for it yet.
There are eight different ones of these in St. Louis called SRTs, Senior Resource Taskforce. I want to break down all three words. Seniors, that’s who we’re helping. Resources, they’re getting together to share resources. Taskforce, if the taskforce is going to make it all happen. They’re getting together to help these families because every person is like a Rubik’s Cube. They’re trying to figure out what all they need. If you can be better at the house and the stuff, I always combine those two together. You can be more valuable to everyone.
Even real estate agents that have an SRES designation don’t want to clean the house out either. They want you to come in and do this and they’ll still get their commission. I remembered in 2011, they would say things like, “We already work with a real estate agent.” I felt like I got kicked in the stomach like, “Phillips out, right?” No, they just admitted they have the problem.
Real estate agents have been fixing this for the past 30 years and the problem is when we all say that the market is good today, we would but you have to get the house onto the market. These houses that are full of stuff that aren’t usually the way they want it cleaned out and getting that house rehabbed, good luck trying to find a good contractor, especially if you live 400 miles away.
I’m getting goosebumps because I’m living this right now. I understand completely what’s going on. Unfortunately, my grandpa was Mr. Saver. They paid off the house and the whole thing, but they’re going to have to unlock it at some point. My grandma’s probably going to live another twenty years. Besides the fall, all of her family lives to be 100. It’s bananas how much money that takes because I know that the place that she’s at is $5,000 a month. She can still get around. It goes way up from there.
It could be double that easy if they have to do more things for her.
Even if they have to move into somebody else’s house or something needs to happen to this house, there are probably people reaching out to this Senior Resource Taskforce and senior transition specialist to see if that’s an option, and then they refer them to you. You go in there not only as a regular cash buyer, but you’re going in there to help them pack up their personal property, get rid of the stuff that they want to throw out, and put it in storage. What other services do you provide that sets you apart?
It’s from treasures down to trash. My goal is to not be in the stuff business but to have the people that are in the stuff business and know the difference between things that have value and things that don’t. Let me give you the craziest stat about my downsizing guy that we were talking about. He said 99% of estate sales in St. Louis generate between $3,000 and $5,000 in revenue, with the cost of putting on the sale of between $3,000 and $5,000 to put the sale on.
People will not care to know who you are until they know how much you care.
I didn’t say that stuff is worth zero. It’s worse than that because of how much time it takes to get things cataloged, tagged, the sale happens. There’s always a silver lining. Because of COVID, estate sales got put on the rear because people couldn’t go into the houses. They started coming into it doing just one number of cleanouts, like, “We’ll pay $3,000 for everything,” and they take everything out. I stay in my lane. I have people that I refer to, from treasures to trash. I try to unlock the equity for that family. Even though you might say, “Why don’t you buy it and start doing a resale shop?” I don’t have time for that, nor do I want me in that. It is cool, but I don’t want to do it.
There are people that do. Get the pros in. Get them to do the deal.
I refer to them freely and they refer to me freely. I make $20,000 on my deal and they make $2,000. I’ll stay where I’m at.
How many of these have you done? Do you have a ballpark idea of how many of these properties you have bought or wholesale, or whatever else?
I do about 40 deals a year in the St. Louis market and now we have a national company. We’re helping about 1,000 families a month and soon to be more than that. Our goal was to get to about 10,000 daughter duties to help every single month. Over the next several years, we think we’re going to be there inside of twenty months here. Our new goal is to get 20,000 or 30,000 families to help per month. That’s how big this market is.
That is a big idea. Who else is doing it? I don’t know anybody else that has a Mom’s House service or approach. It’s absolutely incredible. It’s opening my mind to a lot of different possibilities and I see a big wave of opportunity coming in that space. There’s always going to be a generation that’s getting older and getting out of their house and doing that, but Baby Boomers, that’s the big wave. Can you talk to me about that? Am I wrong? Am I crazy?
You’re 100% right. These children today aren’t waiting around to inherit their parent’s houses. The Baby Boomers are going to be the biggest transfer of wealth. The cost of care is going through the roof. Right here in my own market, there are cranes going up everywhere, building senior living communities. It’s coming after everybody.
We’re not going to have a political conversation right now because it’s not the time or place. You guys have seen what they’re doing with the 1031 exchange. Biden’s trying to take away the 1031 exchange. To pay your niece to take care of your grandma, so they don’t go on Medicaid beds, the longer they can keep them in their home.
There’s an actuary saying, “Every month, we delay this to save this because this Silver Tsunami that’s happening is coming for the government, too.” They understand that there’s a problem and they’re trying to get in front of it. These houses are going to be sold. This is the inventory. In my mind, this is a bold statement, this is real estate. You don’t buy houses from 28-year-olds often. These are the people we buy houses from.
Give me a set of instructions. If somebody wants to go out today and start the momentum of these relationships, who do you think is the first person that they should approach, talk to, network with? What should they say to them?
You should find your Area Agency on Aging. That should be everywhere. Here in St. Louis, we have ours. They are a government program. They would know where your networking events are happening. My suggestion is to go and listen a few times. If you show up as an investor, all they’re going to hear is the word shark, not what you want to do. If you go up and say, “I’m a realtor,” even though you might be a realtor, their crocodile brain is going to shut off because they already know what a realtor is. It’s nothing new.
I want you to go there and listen or talk to me about it. I love to teach people how to do this right. There’s a right way to do it. You have to switch your brain to put that person first. Each of those eleven people we named has a what’s-in-it-for-them. I’m big on the psyche. Good example, a proprietor of a senior living and a social worker could not be more of a different human. They’re both in senior living. You do not have the same elevator pitch for both of those people.
You let people skip to the front line. You’re talking about you going national. You train people. I see the beautiful little cross-stitching logo in the background. Not to be an ad for you or anything like that, we don’t have anything. Are you opening it up? Is there a way that people can get into your world a little bit more if they want to learn from you? What would be the best way?
Thank you for having me here. I’m trying to shine a big bright light on what’s happening in our world. The company is called Mom’s House. It’s MomsHouse.com. It’s called Mom’s House because even if dad is still the one that’s alive, people love to refer to it as, “What do we do with mom’s house?” By the way, guys, if you’re reading and you’re lucky enough to make it to senior living, you’re outnumbered by females, 7 to 1. If you’re a single man, you’re going to have a lot of dance partners.
MomsHouse.com, they can find more info. Phil, I love it. That’s the beautiful thing about real estate. There are so many different opportunities. What we try to do on this podcast is put everybody in the forefront of what’s going to be happening over the next year or two, and you’re saying twenty years. If this is hitting your brain in an interesting and fun way and it’s sparking ideas, I highly suggest you check out MomsHouse.com and get into that or go to the Area Agency on Aging in your local markets and go see what’s going on with those networking and maybe the fairs or something there. Some of the industry groups that get together there and see how you can start building those relationships.
I love it. It’s incredible. It’s an incredible value. Real estate investors work with the people that need help. In a general sense, Philip, we work with distressed property owners. We go out there and solve that problem for them. They want to trade speed and convenience for potential equity in the property. That’s what it is. That’s what we do. We source real estate opportunities. We get paid in the amount of value we provide to our community. That’s it. It’s an incredible way to provide value to the community, especially people that all of a sudden, you get a call in the middle of the night like my mom did and it’s a whole thing.
All of a sudden, your week is going one way and now you’ve got this and you knew it was coming. My mom knew at some point, they would have to put my grandma into a senior living facility. You just never know when it’s going to happen. When it does, finding a resource to be able to help you through that process is huge. My parents 100% would have jumped all over that if they knew. That’s phenomenal. Thank you for educating me. Thank you for educating the incredible audience. We have an audience that goes out every single day and provides as much value as possible to the communities in their cities. We’re doing a great job helping out the people that can’t help themselves. Thank you, Philip. MomsHouse.com, check it out, guys.
Thank you for having me.
Thank you, Philip. For everybody out there that is interested in joining the most proactive group in real estate investing, it is the TTP family, go to WholesalingInc.com/TTP. Check out what it’s all about. It’s all about having quality conversations with distressed property owners. It’s all about what Phil was saying. It’s about going out there and providing a ton of value and being proactive about it. Nobody’s going to just lay these into your lap.
Make sure you check out what the program is all about. I look forward to working with you personally, one on one. Check out all the testimonials. Check out all the success. Scroll for a while and if it feels good in your gut, sign up for a call. I look forward to working with you personally. That’s it. Until next time, as always, I sign off encouraging you to go out and talk to people. I love you. See you next time.
- Mom’s House
- OK Boomer, Who’s Going to Buy Your 21 Million Homes?
- Be sure to join the Wholesaling Inc Facebook group
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!