Wholesalers need to be building up their pipeline every. single. day.
You don’t want to run into a situation where your pipeline is dry and have to start the entire process over again, and the most powerful way to do that is to talk to new people and build up your pipeline every day.
Chris and Cyndi Fagan are constantly growing their Wholesaling business, and in this episode they share the simple systems they follow for filling the pipeline.
Filling The Pipeline Every Day
- Chris and Cyndi time block their day so that they’re having at least 30 new conversations with potential leads every day. The potential leads may not all be interested, but the Fagans want to reach at least 30 new people.
- They don’t wait for people to call them – they use MojoDialer and cold call 250-300 people every day.
- This deal started, as described above, with a cold call.
- When they arrived at the house a couple days later, the owner looked terribly sad. Her husband had just received a diagnosis of brain cancer, and they spent a while just building a relationship with her before discussing business.
- They were able to sign the agreement that day, and as you’ll hear in the testimonial that Cyndi reads during this episode, they made the property owner’s life a lot easier.
- They signed the property for $110k and sold it for $134k, so they made $24,000 from the deal – and the seller was extremely relieved.
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Brent Daniels: Hello, Rhino Nation. It is Brent Daniels back again and the business is absolutely on fire. I want to touch on a really important thing that you need to consider in this business, in the wholesaling business, and that is absolutely building up your pipeline.
Listen, in this industry, in this business, there is a lot of ups and downs. You work, work, work, work, work. You get that deal, you make your check, you’re feeling great, and then all of a sudden you have to start all over again because your pipeline has run dry, and we all need to remedy that. And the only way, the best way, the quickest way, the most powerful way to do that is to absolutely talk to new people every single day. You need to be building up your pipeline every single day, because the fact is this. The fact is you need to look at your numbers, your ratios, you need to see how many leads you need to get one deal, okay? You break down that number, whether that be 20, maybe that’s 50, maybe that’s 100. But remember, once you get that one deal, it’s not like you just… If you have 500 leads or 50 leads better, if you get that one deal, that doesn’t mean you have 49 leads left. That means you need to replace another 50 leads. Let that sink into your mind.
And I am so absolutely thrilled and excited to invite my neighbors, not literally, but in the same market as I am to this podcast. They’re absolutely phenomenal. They are on fire with their business. They are extremely proactive. They are constantly, constantly, constantly building up their business, learning, growing and taking instruction, and really just having an incredible time doing it. I’d like to introduce everybody to Rhino Nation to Chris and Cyndi Fagan say hello guys.
Cyndi: Hey. Hi.
Chris: [crosstalk 00:02:52].
Cyndi: [crosstalk 00:02:52].
Brent Daniels: I love it. That’s the enthusiasm I love. I love that. So guys, let’s let everybody know. Let’s introduce you to everybody out there that’s listening. Tell us who you are and what market you’re in.
Chris: Well, my name is Chris and my wife here is Cyndi, and we are in the Phoenix markets. We actually live in Chandler, Arizona, which is, I guess, southeast Phoenix area.
Brent Daniels: Yeah. Yeah.
Chris: So we work both in Maricopa and Pinal County and, yeah, we’re just fired up. We’ve been part of The Tribe since really late April and got going or mid-May, and have been just working on it for the past three or so months.
Brent Daniels: Excellent. So you guys have a really gotten off to an extremely fast start. We are in a very competitive market here in Phoenix. I’m in Phoenix, as well. And listen, everywhere is a competitive market, let’s just face it. But in Phoenix we’ve got a lot, a lot, a lot of people out there sending a lot of mail and doing a lot of pay-per-click, and doing a lot of bandit signs, so the competition is really extreme.
But listen, that’s the same way it’s going to be anywhere because, right now, the market is on fire and we have the opportunity to make so much impact and so much money it is incredible. So you guys just joined The Tribe in April. Tell us when you first started, what were your challenges when it came to learning how to wholesale property?
Cyndi: Our challenges… Well, we started with the program and what I liked about the program was step-by-step. I guess the challenges would have been just getting set up, getting the program set up to skip trace the cards and whatnot, or the phone calls, and the nerves, right? Making the phone calls.
When I first dove into it, I was going through this skip and I, “God, I got this down,” and then for whatever reason I kind of back shifted a little bit and I started getting nervous a little bit. But now I really, really enjoy the phone calls. But I think the biggest challenge for me was just kind of getting everything organized and making sure that we were able to move forward with a really strong foot, I guess you would…
Brent Daniels: Sure, sure. I love it. And just so that everybody out there understands, Cyndi said the words “skip tracing.” Skip tracing basically means you get an address for a property and the property owner’s name, and then there are certain companies that will do a search and get you the phone numbers for those owners. And then, you have the opportunity to pick up your phone and to dial those people and to call and talk to strangers and see if they would consider an offer on their property. Is that right?
Brent Daniels: Okay, so let’s look at… Who are you calling? You said that you’re skip tracing. Who are these addresses? Who are these people?
Cyndi: So we have called rental properties, people that own rental properties, people with code violations and then we’ve also made some calls to owner occupied individuals.
Chris: With equity.
Cyndi: With equity individuals.
Brent Daniels: Excellent. And tell me, how is business right now? How have you done in the last four months?
Cyndi: I think that we’ve done great. I think that, had we been maybe a little bit more consistent, it’s really interesting when you pull out the numbers you can look back and go, “You know what? We did really great.” We’ve done five deals.
We started on the phone probably May 15th and we did five deals, but I look at that and I’m like, “You know what? We could have probably doubled that if we would have been more consistent,” because you can find yourself in between the cards and the phone calls and the appointments. You can find yourself saying, “Okay, I’m going to call later,” but then the later never comes. And so right now we are block timing our time so that we can fix that, so no matter what happens and we get those calls in, because my goal is to do 30 calls, excuse me, 30 contacts a day. Because if you don’t do a minimum of 30 a day, in my opinion, you’re not going to get where you need to be. So you can start out slower, but you need to build up to that 30 a day at minimum.
Brent Daniels: So you’re talking about 30 new people a day?
Cyndi: Yeah. 30 people that I actually have a conversation with. And that could be, “No, I’m not interested,” or that can be an in-depth conversation. But I want to reach at least 30 people. I probably make 250 to 300 calls a day for Mojo Dialer, but my goal is to actually talk to 30 people.
Brent Daniels: That is incredible. And everybody out there listening, this is how you build your pipeline. Can you imagine if you had 30 people call you a day off of your postcards? You would do phenomenal business. And what Cyndi and Chris are talking about is they’re saying, “You know what? I’m not going to wait for them to call me. I’m going to reach out to them and have the conversation now on very specific lists of people that are most likely, or more likely, to be motivated sellers.”
That is so powerful. It is just incredibly powerful. So when you’re talking to these people, are they mad? Are they angry? Do they scream at you? Do they threaten your life? Do they tell you you’re the worst human being and to go die?
Cyndi: Actually, no. I find that the majority of all people are very kind. Yeah, you’re going to get those people, “No, don’t call me back again,” but it’s too far in between. You’re going to get a lot of nos. But it’s, “No, I’m not interested.” “Okay, thanks. Have a great day.” But the majority of people are really kind whether they’re interested or not. So I enjoy it. We have some great conversations and I talk to husbands, wives, everybody.
Brent Daniels: Yeah. Yeah. And do you think that that is a reflection on the way that you approach the calls because you’re kind, because you have a conversational tone, because you’re not just straight to the point a robot, because you’ve got a charming demeanor and charming tone and charming pace, that that makes it easier for them to be comfortable with you?
Cyndi: Absolutely. I think that you have to be genuine. When I call somebody and I’m trying to strike up a conversation with them, I’m being authentic. I’m being real. I want to be able to help them and I want to open them up and I want them to know that they can trust me. For people that really know me, they know that I’m actually really kind of quiet, and so this is really actually helped me because, until you get to know me really well, then I’m a crazy person. But [crosstalk 00:09:55]-
Brent Daniels: I know that. Yeah.
Cyndi: If you don’t, I’m shy. And so this is really actually helped me out in the real world because I’m more apt to ask questions when I’m around people, and just get a conversation going. So yeah, it’s great. I like it, and I guess I do think it makes people feel at ease when they feel that they can trust you.
Brent Daniels: Absolutely. The more conversations you have, the more comfortable you are with it. I hear it a lot from people just around the country. They say, “I’m an introvert. I just can’t call people. It’s too scary. I don’t know what to say. I don’t know what to do. I think they’ll be mad at me.” And the truth is, listen, if you go with a kind and optimistic attitude and you’re talking to people every single day, one, you’re going to be really good at those calls and those conversations, and two, it’s going to absolutely affect all the conversations that you have in your life. I’ve said it before, but it is an incredible life changing situation when you are able to just be able to strike up conversations and be genuine, just like you said. Absolutely fantastic.
So let’s do this. Everybody listening to this podcast wants the meat. They want a true experience, right? They want to hear something that you’ve been through. I want you to pick… You said you’ve closed five deals. You’ve got a pipeline that you’re following up on. I want you to pick one specific deal and I really want to figure out and I want to feel like I’m experiencing it with you. So I really want you to break it down to everybody listening and just pick a specific deal that you guys have closed, and let’s get into it. So do you guys have one in your mind?
Cyndi: I called this lady. Her name, well, I won’t tell you her name, but I spoke to her and four days later we went out to her house. And when got to her house, there was an older woman, she was in her seventies, in her driveway, and she looked like she had been through just horrible, horrible situations. I don’t think I’ve seen anybody sadder. And so, we walked in the house with her and she started talking. Her husband had actually just got brain cancer.
Brent Daniels: Oh, geez.
Cyndi: So when we walked in the house, her eyes were all swollen and stuff. And I sat her on the couch and we actually talked to her probably for 20 minutes and just kind of let her spill to us. And then, we went on with business after that. But we got the deal done with her that day.
And if it’s okay, Brent, I’d really like to read a testimonial she wrote for us. And this isn’t to pump Chris or I up. It’s to show people how you can really help people in their situations. And it’s not about the money. It’s not always just about the money. It’s about doing the right thing and how you can relieve people. So this is-
Brent Daniels: Yeah, absolutely. I think everybody would want to hear that. Absolutely.
Cyndi: Okay. So this is a testimonial she wrote. She said, “I would like to take this opportunity to write a letter regarding the wonderful experience I had working with Cyndi and Chris Fagan on the purchase of my home. It was a very emotional time for me and my husband. I had to move to assisted living residence closer to his doctors. I was having a hard time trying to sort things out and get things done without the help in the house in Casa Grande while trying to take care of my husband in Chandler.
Cyndi contacted me about buying the house and I was unsure. It seemed too good to be true. I met with them and found them to be sincere, and they offered to buy it as is. They’re the most pleasant professional and patient people to work with, and they put my fears at ease right away. Even though they said they would buy the house as is, I was surprised that I didn’t have to do anything with the furniture and the things I didn’t want or need. I was able to just leave the items there. They even took several days to help me pack things up to move and help me transport things to a storage unit. It took a great burden off my shoulders.
I signed the agreement on July 21st and we closed on August 30th-
Cyndi: 3rd, excuse me. They turned a real emotional and monumental task into a pleasant and satisfying experience for me, and I also gained two friends out of the experience.” Sorry, I’m getting emotional.
Brent Daniels: Oh, man. Geez.
Chris: What’s really cool is she actually lives literally two minutes from where we live, so we’ve actually stopped by her place a couple times already just to keep in touch with her and help her. She’s still having a very difficult time with her husband who’s kind of suffered through some chemotherapy after treatment. So just not a good situation, but just an amazing experience. A super strong woman, and unfortunately she has family, but not a lot of engagement there. And the numbers were we’re good on it. We honestly probably could have had a bigger spread, but it just didn’t-
Cyndi: Didn’t feel right. Yeah.
Chris: … feel like the right thing to do at the time. But it was still a good deal for us and a good deal for the cash buyer that we assigned it to, as well. So it worked out.
Brent Daniels: Well, I think the important thing that I get out of that testimonial is, when you guys got that appointment, when you guys went to the property, you didn’t go there to just build rapport for the sake of building rapport. You built a relationship, right?
Brent Daniels: And I think that that is so key. I think it’s lacking in what we do. We think that we have to go in and just get the deal signed up, or we need to go in and build some sort of rapport, which I think is a silly word. I think that building a relationship is so much more powerful, and you guys went in there.
The first thing you had said, Cyndi, is you guys went in there and you talked for 20 minutes on the couch and you didn’t even talk about the property. I think that that’s so incredible, and I think that that’s something that I hope everybody listening really takes to heart, because you need to build a relationship with these people and they need to be comfortable knowing that you’re there to help them out, right? You’re not just there to make money or you’re not just there to waste their time, but you were there to bring value into their lives. And that’s such an incredible, incredible experience that you had.
Brent Daniels: And listen, we all go through certain deals or certain transactions and you get into the process of it, and some of it, it’s quick and easy and people just want to get rid of their properties, and sometimes there’s so much emotion involved, you know what I mean?
Chris: Mm-hmm (affirmative). Yeah.
Brent Daniels: That right there, that story, just so much emotion. I’m tearing up over here,
Brent Daniels: And I’m a pretty tough guy, you know what I mean? But it’s just incredible. So you guys were able to make that transaction happen pretty quickly. It feels awkward even asking you what you made on it, but we might as well discuss it. What did you guys make on it?
Cyndi: So we got it for $110,000, then we sold it to our buyer for $134,000, so we made $24,000 on that deal. And we got paid, but she was so relieved.
Brent Daniels: Yeah.
Cyndi: We were stoked about the money, don’t get me wrong, but she was so relieved. And, like Chris said, we still actually stay in touch.
Chris: Yeah. It was so emotional at the time after we got the contract signed, we literally, and it’s about a half hour drive back home. We literally didn’t even do the high five like we normally would, say, “Yeah, all right. Got a deal.” It just wasn’t even in the front of our mind at all. And then, later on, we’re like, “Okay, well, that was cool.” [crosstalk 00:18:01].
Cyndi: Yeah, it took us for a day or so-
Chris: It was interesting.
Cyndi: … and then it was like, “We just made $24,000.” It was awesome, but so she walked away really, really happy and just this huge burden off her shoulders, right? And we hit our goal. So it’s good all the way around.
Brent Daniels: So did you guys originally just call her out of the blue?
Cyndi: It was just a TTP talk to people, make a call and have a conversation.
Chris: Yeah. Owner occupied equity, 50% to 100%, and 50 or older was our-
Chris: … criteria we used on List Source on this one.
Cyndi: You got your information from List Source?
Chris: On this particular list, yep.
Brent Daniels: Okay. Okay, great. Well guys, just an incredible… I want to bring it up. I feel like that needs to settle into our minds a little bit for everybody to really get value out of what that story, what that experience, what that testimonial was. But, moving forward, how does business look for you guys? What are you guys doing? Break me down, Cyndi, Chris. Break me down what your daily schedule looks like.
Cyndi: Okay, well we’ve kind of experimented, so we’re just, right now, we’re getting into time blocking.
Chris: Time blocking. Yeah.
Brent Daniels: Yes.
Cyndi: Somebody important told us about that, Brent.
Brent Daniels: Well, first of all, just kind of give me your definition of what time blocking means.
Cyndi: Well, I think just like in the morning, if we have an appointment to go out, we list exactly what we’re going to do. “Okay. We’re going to do the appointment between this time and this time. We’re going to do our calls between this time and this time. We’re going to do follow-up this time to this time.”
So generally, when we don’t have an appointment, what I do is, or both of us actually, we get up, do our personal things, right? And then, I will do my follow-up calls. Now, these are people that I’ve had a conversation with that have either said, “Give me a call back in a week or two,” or, “Hey, I’m not going to be ready for a month or two,” or, “I need to talk to my husband or wife. Call me tomorrow.” Something like that. So I do all my follow-up first, and then I’ll go into my phone calls of the TTP. And then, in the meantime, Chris is getting the list together and handling any card situations that we have going on.
Brent Daniels: Got it. And when do you do your lead follow-up?
Cyndi: What time?
Brent Daniels: Just in your day. So you’re saying that what you do is you time block to make sure that you’re bringing in new business every single day.
Brent Daniels: And then, you do follow at some point. Is it based on how many you have to follow up that day? Do you do it on certain days? Kind of break it down to the listeners.
Cyndi: No. I do it every day with the exception of Sundays. And so I have follow up calls every day that I have from either the week before, the month before, three days before, whatever. So my follow-up can be anywhere from four to 15 calls in the morning to start with, and I’m sure that’s going to even grow.
And I kind of touched around before we’re kind of experimenting and we weren’t being as consistent as we needed to be, and that came out very clear when we look at the numbers and just know what we could have done compared to what we did do. I think we’ve done well. I know that we could do a lot better, and so that’s our goal to make that happen.
Chris: [crosstalk 00:21:48].
Brent Daniels: Well, excellent. Yeah, absolutely. It’s all about the consistency. Consistency, consistency, consistency.
Brent Daniels: If you put so much value on talking to new people every day and bringing new people into your pipeline, I don’t care. I don’t care. Listen, I am known for the TTP. I’m known for the cold calling, and that is my business and that’s what we’re successful at, and I get that. I don’t care if you’re talking about making cold calls or you’re talking about mail or you’re talking about bandit size. I’m not talking… Any of that. The fact is you need to build up your pipeline every single day, or what happens is you’re going to let creative avoidance sneak into your life.
Brent Daniels: All of a sudden, right? All of a sudden you stop making that call because you got to do something else that, right now, needs to happen for the deal. When, in real life, if you were to time block everything, remove all your distractions, kind of duck under the wave, so to speak, for a little bit, and make your calls, you can get back to the those pressing, hot, need-to-do-now items. It’s amazing what happens when you make calls for an hour, and then get to your email, or then get to something that title and escrow needs, or then return the call from a seller that you have under contract. So it’s, yeah. You said it perfectly. It’s all about getting back to consistency.
Cyndi: Yeah. Yeah. 100%, because sometimes later doesn’t come, right?
Brent Daniels: That’s it. That’s it. Absolutely. And I love that you’re starting… I think that there’s something very powerful with starting out your day doing your lead follow-up, because those conversations, typically, are going to be a lot smoother and a lot longer and a lot better than your cold calls, and it warms you up, right?
Brent Daniels: It warms up those conversational juices, and then you can get into making your calls and getting into new conversations and new opportunities. So that is definitely something that I suggest to anybody listening, is to make sure that you get your lead follow-up in, get your juices flowing, and then if you are going to make the decision to be serious about reaching out to people and talking to people every single day, then do it then. So that’s great.
So what’s on the horizon, guys? How does your pipeline look now? And, second part of that question, how do you guys stay organized when you’re talking to that many people?
Chris: So our pipeline looks really good, we believe, right now. We’ve got at least three deals that should close this month. One is definitely already in escrow. Then there’s two other ones that we feel really strong about that we’re just following up on and should get contracts here shortly. And then, making sure that we get back to building the pipeline and the calls. We do do some mailers, but the focus is, actually, the cold calling, the TTP process, and staying on top of that. So we just need to continue to build our lists, go after the most juicy lists, if you will.
We’ve recently been working code violation lists. Weren’t easy to get. Just because you have to get the data from the various cities and they don’t always provide those in an easy-to-use format, so you got to kind of manipulate it, and then get it over to the skip tracer. But that part has been really good for us and we just need to continue to get better on the list. And then, as far as staying organized, we essentially use Mojo as our CRM. So Mojo’s got everything in there. We use the group feature.
Brent Daniels: What’s Mojo? What does that mean?
Chris: So Mojo is our dialer system that we use. Www.mojosells.com.
Brent Daniels: Nice plug. I love it. Yeah.
Chris: I got to work it in. But, yeah, we use Mojo because, once you get your list, you upload it, super easy, from a spreadsheet into Mojo, and then they sit on a list, and then as we make contact with those individuals, we move them to a certain group, and then the groups are tied to our follow-up steps. So it’s either “no,” “dead,” “yes,” “maybe,” “do a comp,” “send an offer,” “send a letter,” “got an appointment set with them,” and we just move them through those groups until, ultimately, they get to the contract deal bucket, and then we’ve got them all in there. So that’s essentially how we track all our deals and just follow up with everybody.
It’s kind of nice, too, because all their information’s in there. You can click out to Zillow and to Google, but we just type a lot of the other information. You can attach files to each of the contacts. So if we do a comp outside of that system, we’ll just attach the file. If we send a letter to them, we attach the letter. It’s just all very kind of one spot. It’s not super complex or robust, like a Podio or something like that. In fact, we had Podio and this was just too much time consumption, so we just went back to Mojo and use that now exclusively for our CRM. We do have Highrise that we use to kind of keep our buyers in there, but other than that, really, Mojo is our go-to for everything.
Brent Daniels: Awesome. Yeah. That seems to be the shift in a lot of the TTP students, is just to stick with Mojo because it’s just so user-friendly.
Brent Daniels: So really, really good tips there. So guys, as we wrap this up, if you’re starting and, well, you were brand new. You guys are crushing already. You’ve got five closed. You’ve got three pending. I would assume you have dozens in the pipeline. Is that correct?
Cyndi: Yeah. Absolutely.
Brent Daniels: Okay. So you’ve got a lot of business moving forward. It seems like you guys are gaining even more momentum. So, if you were to talk to somebody that’s out there that’s listening to this, they went onto the podcast and they typed in wholesaling. This podcast popped up, they’re listening to you for the first time, they’re brand new to wholesaling. What advice would you give them?
Cyndi: Well, I would tell them, “Definitely do it,” but I would tell him to figure out their why, because this is a helping other people business. Yes, you can succeed if you’re just all about the money, I would imagine, but I would tell him to figure out why. Is it your family? Is it get out of debt? Is it you want to give to others? Why do you want to do this? And then, I would tell them to definitely join The Tribe, because we’ve experienced so many givers in this group and it’s just a step-by-step process. And if you take the action, you’re going to succeed. Period.
Brent Daniels: Love it. Chris?
Chris: Yeah. I would echo a lot of what Cyndi just said, the whole approach from Wholesaling Inc, and specifically this talk to people program, the TTP is about action. And you’re not going to be perfect. Certainly, we have not been perfect and we’re still learning along the way, taking the action and moving it forward.
The numbers don’t lie. You just do the numbers, and then it will work. And since day one, Tom had said to us when we joined, “If we tell you to go paint your car red, just go paint your car red.”
Cyndi: He [crosstalk 00:29:14] right now.
Chris: It’s still black, but it’s really about just don’t try to reinvent the wheel. It’s not that complicated. It’s us that will make it harder than it needs to be, so just stay on track and keep to the basics, and know that, as Cyndi said, it’s about doing what’s right for everybody in the deal. You can’t help everybody, but if you can, there’s definitely a place for what we do and the people that we work with. And the deals that we closed, they’re thankful.
Cyndi: Yeah. They are. All of them.
Chris: It’s just been fantastic.
Brent Daniels: Well, thank you guys so much. I think that everybody will agree that that was incredible value that you guys brought on this podcast, and I just personally want to just thank you guys. You guys have been just amazing friends. We’ve spent a lot of time together, and I really, really just appreciate that. You guys have always been incredible go-givers, and really appreciate it. So thank you for being on the podcast.
Anybody out there listening, there is a book that I suggest you get. It is called Fanatical Prospecting by Jeb Blount, and a phenomenal book. Get it. Get it in hardback, get it all highlighted up as you go through it. It is incredible. It’ll get you in the right mindset and here’s the deal. If you guys are out there and you want to take cold calling seriously as a marketing channel in your business, you need to reach out to me at www.wholesalinginc.com/ttp. Schedule a call. We will chat, we will talk about it, we will strategize. And, if it is a right fit for both of us, I will get you into our program and just set you into a rocket ship and send you down the path that we’ve laid out for you guys.
So really appreciate everybody listening. Really appreciate you, Chris and Cyndi, and that’s it. Until next time, talk to you soon.