The last time Brandon Barnes was on the podcast, he shared how shifting to a “go giver” mindset helped him find success in Wholesaling, and close a $24,000 deal. Since then, his business has grown and he’s finding a ton of deals through cold calls.
The Power of Cold Calling
Brandon’s business has completely transformed since he adopted cold calling as his primary marketing tactic. Brandon started making calls by himself just a few months ago, and now he has six people making calls and finding deals for him.
Brandon’s first cold calling deal:
- Brandon was “driving for dollars,” looking for vacant homes.
- His VA found the contact info for the property owners and he started cold calling.
- One woman picked up who had a rental property vacant for over a year, and she had a $95k mortgage with nearly $1k payments every month.
- Brandon followed the Investor Grit script and built rapport with the seller. She told him that she had received plenty of postcards, but she took a chance with Brandon because she got to talk to him and know him as a real person.
- The seller was so motivated that she brought money to the table to help cover the high mortgage, and they were able to close the property in under 3 weeks.
- Brandon made $5,000 on this deal, but it was a priceless learning experience because it opened his eyes to the power of cold calling.
Brandon’s business is only growing. Since May 2017, his team has closed 3 deals, has an additional 3 properties under contract, and are working on the biggest deal Brandon has ever encountered: a 12-property portfolio of valuable properties.
All of this is only possible because of cold calling, and always being a Go Giver.
- If you want to get started in Wholesaling, we would love to talk to you. Head over to Wholesalinginc.com/brent to book a call. If we like what you have to say, we might just invite you into the tribe!
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Brent Daniels: We are back at it again, Rhino Nation. My name is Brent Daniels, and here at Wholesaling Inc, we deliver you the absolute best real estate wholesaling content on the planet. So get ready because we are aiming a flame thrower of actionable items are right into your ears today. Joining me on the podcast is a professional wholesaler with absolutely outstanding knowledge he will be sharing today. From the Peach State, the architect of Atlanta, Brandon Barnes. Say hello to Rhino Nation.
Brandon Barnes: Hey, hey. How’s it going Brent, man?
Brent Daniels: I am doing excellent. I am doing very well. I am really excited for you to share today. It is our responsibility to examine a deal you’ve done recently and bring as much value to our listeners as possible. Fair enough?
Brandon Barnes: Yes, yes. I am ready. Pumped up, and ready to give you guys some great information on some deals we’re doing down here in Georgia.
Brent Daniels: Excellent. So why don’t you just give us a little bit of background. We won’t spend too much time with it because you’ve been on the podcast before. You’re an absolute force to be reckoned with in Georgia. So kind of give us a little bit of background, and then we’ll get into the nitty gritty.
Brandon Barnes: Yeah, it’s funny that you mentioned that. The first time I was on, I was really just getting going. I’d done some good deals. I’ve been in the Investor Grit, Wholesaling Inc tribe, Rhino Nation, circa May of 2016. So actually I’ve only been in the tribe for about a year. Introduced to wholesaling earlier that January by a fellow tribe member. Prior to that, I spent all of my professional career in corporate America. And was fired, had the perfect opportunity to jump into this wonderful business that we’re in, and with some great mentors such as yourself, such as Tom, such as Cody, and my buddy Daryl Patterson here in Atlanta. I was able to really understand the basics of the wholesaling business, follow step by step on how to get my first deal done, I think, in about March of 2016. And the rest is history
Brent Daniels: Excellent. And I know, just speaking with you off of the podcast here, that you have made some big changes in your business in the way that you are sourcing and finding deals. Will you kind of take us through the evolution of how you started to find deals when you started, and where you’re at now? And what is the best sources that you’re using right now to get as many deals as possible?
Brandon Barnes: Yeah, definitely. So I started off just as everybody does, I mean, for the most part, bird dogging, driving around, driving for dollars. And then eventually sending out postcards, a lot of direct mail, which has its ups and downs. But it’s always a good baseline and staple for any successful wholesaler. I was soaking up all the knowledge from Tom at the time. And then also listening to a few other rock stars that are out there such as Joe McCall and a guy by the name of Rick Ginn, who, I think, he’s been on this podcast. Had been talking with Joe about probate.
Brandon Barnes: So my first beginning six months, most of my deals were just doing probate letters, and I still do those today. But actually when I saw Facebook posts from yourself about what you were doing in Phoenix with cold calling, it was completely mind blowing. It was absolutely amazing the numbers of deals that you were doing with the price per response or price per seller interaction, using cold calling at a much cheaper rate and much higher contact. It was just simply amazing.
Brandon Barnes: And I’ve been following what you’ve been doing since about September, October of 2016. And now I have my own five, actually about to higher the sixth, prospect or cold caller who are calling for me 40 plus hours each and every week to find deals and go directly to the source. We’re playing offense over here. And I’m primarily cold calling, brother, just like you. I mean, I’m doing that and my probate letters are still going out. But I have completely kind of done 180 and started marching in a different direction as far as cold calling. And it’s the best decision I’ve ever made. We have so many smoking hot leads and we’ve already closed deals and many more under contract.
Brent Daniels: That is absolutely incredible. You had started out just making calls yourself, and now you’re at six people making calls for you. Is that right?
Brandon Barnes: Yeah. So we have five, currently hiring the sixth, and training a potential candidate. So yes we are. And I got that number directly from you. Seeing your post within the tribe and reaching out to you understand how your numbers were. You’re such a go-giver. You told me about what amount of hours dialed would be necessary to achieve the results. And I went out and did it, man. It was a scary leap at first, but best decision I’ve ever made following this crazy man named Brent Daniels out of Phoenix.
Brent Daniels: I will tell you what, and I appreciate the crazy man there. It has been absolutely life changing in our business, in my personal life, to get on the phones and TTP, to talk to people. And in our tribe, for all those listening, we have a very specific model that we follow to have as many good quality conversations with motivated sellers as possible. So that is what Brandon is referring to, and it is just incredible how much action he has taken on it, and it is only building up his pipeline. He’s already getting deals done through just reaching out directly to the homeowners.
Brent Daniels: So let’s get very specific, Brandon. Let’s take a deal that you’ve done where you have gotten a list. Tell me what lists you called from. Tell me who you talked to. Tell me the process. Tell me how long it took. What did you say to him? Let’s start with a specific deal, and let’s go from there.
Brandon Barnes: Okay, great. Yeah. So to get going, actually, when I was still a one man band cold calling, and that may have been February, March of this year. We’re now in July. And I was driving for dollars, just looking for vacant homes as you would, and having those addresses skiptraced. And I’m going to go back to this, to my very first cold calling deal for a reason, and I’ll tell you kind of what we’re doing now, how that’s changing, what type of results we’re getting.
Brent Daniels: So one second, Brandon. So you drove the streets, you found the worst houses on the streets, you wrote down the address, and then you got their phone numbers, and you call them.
Brandon Barnes: Yes, sir.
Brent Daniels: Okay, perfect. All right.
Brandon Barnes: And with that, a lot of help I must say go to my virtual assistant in the Philippines. Tom Krol taught me how to kind of get that setup and hire and find good talent to help outsource things. So though I still do a lot of kind of front end stuff, I have a great support system. And that’s what this is all been about with Tom and talking about automation, and making sure that you’re actually running a business. So enough of that. Getting back to the deal.
Brandon Barnes: So this one, and I’m going to go back to the very first one because it let me know that this was real, that you were real, and TTP was the way to go because it was so smoking hot motivation wise. But the only way I got through the front door was by cold calling and speaking to her directly. So it’s a homeowner here in the Decatur Atlanta area, which is pretty close to downtown, pretty hot area. And the homeowner had a mortgage on the home of, let’s say, 95 grand or so.
Brandon Barnes: And after finding the contact info, my VA gives me over the number, and I’m just dialing through all of these potential sellers. And I come across this lady who tells me that she’s had this rental property for years though it’s been vacant for almost a year because of some of the repairs it needed. There was a tree in the yard. She didn’t want to put a new tenant in there because the tree had died. It was going to be so much money to cut out so that she just left it vacant and continue to pay the mortgage, which was 800, 900 dollars a month.
Brandon Barnes: So she’s just sitting here burning money on this home, and I just built a great kind of rapport with her over the phone. She was very open. I just introduced myself, and told her that I was interested in purchasing homes in the area, and would she be interested in discussing an offer on her property. From there, the relationship, it started, I came out, I met her at the property, continued to build that rapport, and I actually, the numbers were so tight with that high mortgage balance that she had that I told her, “Hey, you may have to come to the table with some money to make this transaction go through.” Because my offer was closer to 90 grand and she owed 95 on the mortgage.
Brandon Barnes: So when you get a seller like this that actually has to bring money to the table to sell their house, she didn’t make any money initially selling her house. She’ll save money over time because she won’t need to pay that monthly mortgage bill. But it was such a high level of motivation that for her to actually bring money to the table where she had been receiving two to three postcards every other day in the mail for years. But she took a chance with me by hearing my voice over the phone, knowing that I was a real person speaking to her, and we built that relationship upfront. So I would have just been another postcard in a stack on her kitchen table, as she told me, had I not picked up the phone and called her.
Brandon Barnes: From from beginning to end, from start to close, that deal took maybe three or four weeks. Got her under contract, like I said, and was able to assign that contract. I think I made close to five grand on it. And that was only because she was so motivated that she brought money to the table. And I would not have ever gotten a hold of her if I had not picked up the phone and called her.
Brent Daniels: Incredible. So let me ask you this, Brandon. So in Phoenix here, when we’re talking to people, it is a very common dialogue that they say, “I have a whole drawer full of letters and postcards, and all sorts of different mail from investors. But because I talked to you, I’m going to sell it to you.” Does that happen to you?
Brandon Barnes: All the time.
Brent Daniels: All the time.
Brandon Barnes: People will show me. They’ll bring out a grocery bag of postcards and show me. And it’s actually kind of fun to look at what everybody else is mailing out. But I laugh because I’m not really playing that game anymore. I may do some direct mail, but the name of the game is talk to people, man.
Brent Daniels: That’s right.
Brandon Barnes: You’ve really championed a new strategy that’s just completely dominating in my area, and I’m sure as well as yours.
Brent Daniels: Absolutely. And so how much did she have to come in with to close the deal?
Brandon Barnes: 5,000.
Brent Daniels: 5,000. So when you’re looking at this, she had a mortgage payment between 800 and 900. She let it sit there for a year vacant. That’s $10,000 that she threw away on a property that was sitting there completely vacant. It was just draining her. And you came along and you were able to provide the solution to stop the bleeding. Right? And she took advantage of it. She came to the table with with some funds. And you sold this property, or did you assign it? Did you take it down? What was your exit strategy?
Brandon Barnes: I assigned this. I had a buyer that was really big on that neighborhood. I think the margin were too slim for me to consider to do a rehab on this property. But when buyers have those certain areas that they really love, they’ll take chances on it. Because I honestly think it was a very, very slim deal. I mean that’s why she had to bring money to the table to get it closed. It was so slim. Yeah, it was a pretty quick process beginning to end. And she actually has a testimonial video that is now on my website-
Brent Daniels: That is awesome.
Brandon Barnes: … ATLSellNow.
Brent Daniels: Yes. I love it. I love it. So how much money did you make on the deal?
Brandon Barnes: That one, I made about five k.
Brent Daniels: Okay, awesome.
Brandon Barnes: And I really wanted to help her out. I would’ve been fine just making a few grand on it, but I locked it up at a price that I knew that it would sell. And I had two buyers actually that were interested in it. Like I said, the guys that I knew wanted that area, he offered a little bit higher, and I was able to make five on it.
Brent Daniels: And you were able to help her get out of that situation.
Brandon Barnes: Exactly. She was definitely very grateful, hence willing to serve as a [inaudible 00:15:53] on my website, but that’s what I really love is being able to establish relationships with homeowners just by talking to people, keeping their values, and what they want, kind of in first position, and being able to perform where others can’t.
Brent Daniels: Excellent. And you know what, you deserve the Liberty Bell. I’ve got like a diner bell here for you. So I apologize for the weakness of this bell, but I’m going to ring it for you anyway.
Brandon Barnes: All right. All right.
Brent Daniels: Listen, it’s not as dramatic as Tom and Cody’s, I get it. Okay? Everybody listening, just bear with me. Someday I’ll get a bigger one. But Brandon, right, as we finish out this podcast, what advice would you give to a new wholesaler just starting out? There’s a lot of people listening. There’s a lot of people that want to get into this business. They see that it is an incredible way to make just a fortune. What advice would you give somebody starting out?
Brandon Barnes: I mean the main advice that I would give someone is to find a good mentor. Go out, I mean, sometimes a mentor, there’s value for value. Nothing in his world is free. The money that I spent to join the tribe was the best money I ever spent, honestly. Because they really created a whole new lifestyle for me, and my wife and our young boys. So that’s kind of step one. Finding someone that you can learn from. You can turn decades into days by understanding how they we’re able to succeed in an area that you want to succeed at. That’s step one.
Brandon Barnes: But a quick caveat, and I think I might’ve even said this last time, aside from of course being able to talk to people, being authentic, and making sure that you’re doing right by the individuals that you’re working with, the sellers, the homeowners. Know your buyers as well. Know the buyers that you are working with because they kind of are your customers in actuality, is knowing what your buyers want. Being able to find those types of deals will definitely help you maximize and make more money with the inventory in [inaudible 00:18:28]. I know that’s kind of like three things. Sorry about that.
Brent Daniels: I love it. I love it. No, I love it. I absolutely love it. And real quick, I just want to recap here, and I just want to get a little bit more information. I know that I said I was closing this thing out. So you’ve got people calling 40 hours a week right now. How does your pipeline look? How many leads you are you getting? And how does your next 90 days to the end of the year look for you?
Brandon Barnes: You’re asking some real serious questions there.
Brent Daniels: That’s it. Let’s give value here. I mean, everybody wants to know. Okay, I get it. You started out, you’re driving for dollars, you wrote down the address, you got the phone numbers, you were calling them yourself. But Brandon, you’re incredible. You’re the guy. I could never do that. But then all of a sudden, wait, but he’s training other people to do it in his business. How does that look? How is his business doing now? These are the questions running through the minds of our listeners. I know it.
Brandon Barnes: Breaking up a little bit there. But yeah, I mean definitely. I got kind of the gist of it. I mean, for me starting out and being a solopreneur if you will, it can be daunting. But the tools and the tips and tricks that I got from this tribe on how to make this a business kind of first and foremost, knowing when to outsource some of these activities. That has really catapulted me into actually feeling like I’m running a business. If I need a day to spend with my kids I can do that because I have the systems and people in place to continue pushing the ball down the field.
Brandon Barnes: But starting out initially, and I can share this information with everyone mainly because of your go-giving mentality, Brent gave me kind of my own prospecting results, kind of a KPI tracker for cold calling because this was completely new to me. So I can go back and look at all of the hours dialed, the contacts made, contacts per hour. Then the number of leads that we’ve generated on a weekly basis. And my virtual assistant updates that for me.
Brandon Barnes: So we have currently three deals under contract. Mind you, we started this May 1. I started with this team May 1, so this is the third month. We have three deals under contract, three deals that have closed. A few offers out there. We’re working on the biggest deal that I’ve ever encountered. It’s a 12 property portfolio of homes in really good areas for wholesaling. And then two of those 12 homes are rentals in another very nice area here in Atlanta. And all of this through cold calling. If that kind of gives you a brief snapshot without going too much into the numbers.
Brent Daniels: Yes. That is incredible. Absolutely incredible. Brandon, thank you so much for being open with the Rhino Tribe, and we really appreciate all the value that you gave. Guys, listen to this podcast again and again and again. There is so much value here. Okay? And we believe, here’s the thing, this is something that I believe, it’s something that is a belief in the tribe, that you are just one conversation away from absolutely changing your life. Okay? And listen, I would love to help. Just go to wholesaling.com/Brent, and book a call with me, okay? We’ll have a quick chat, and if I like what you have to say, we might just invite you into the tribe. And we will see you next time. Brandon, thank you so much.