How Simple Follow Up Turned into an $11,900 Wholesaling Deal!
Do you consider yourself a persistent person?
If you knew that by just following up with sellers, say a couple of times a month, would get them under contract, would you do it?
The obvious answer is yes, but why do so few people actually do it?
There is probably a FORTUNE sitting inside your database RIGHT NOW!! As they say, the fortune is in the follow up!
Well, with just FOUR phone calls in a month and a half, Brenda Greenhill proved that there is power in being persistent, building rapport, and most importantly, followups!
On today’s Podcast, she shares how she was able to close this deal despite having no real estate experience whatsoever!
By her being persistent and taking MASSIVE action, she was able to do her first deal quickly and already has another one in the pipeline!
Want to know her story? Then you better hit that play button!
IN THIS EPISODE YOU’LL LEARN:
- Closing her first deal in less than 60 days
- Sending direct mail to the absentee owners list
- The one signal that the seller was ready to sell
- Her strategies for building rapport with sellers
- What she says when she’s calling sellers
- How she got her next home under contract in less than a month
- Her #1 tip for those just starting out
- and so much more…
If you are Ready to Explode Your Wholesaling Business, Click here to Book a Free Strategy Session with me right now!
Subscribe to Wholesaling Inc
Cody: Welcome to another episode of Wholesaling Inc. brought to you by Investor Grit. And today we another episode that is going to inspire and motivate you. Rhino tribe if you are out there listening to us at this moment, I want you to get a pen and a paper and I want you write down the gold nuggets that are going to be delivered in this podcast.
My name is Cody Hofhine. I’m excited to be with you today. We have an investor that has only been wholesaling just not long at all, just a few months. This investor lives in Atlanta Georgia. Her name is Brenda Greenhill. She just got into this about December of 2016 but really didn’t do anything until January due to the holiday. So she just got into it in January 2017 and she has already closed on her first deal. Now I’m not going to tell everything about it because that’s what this podcast is going to be about, the deep dive of this deal. Lets without anymore, so I don’t give away too much of it, let’s bring Brenda on and go from there.
So Brenda, how are you doing?
Brenda: Hi Cody. Thank you for having me.
Cody: Absolutely. We absolutely love doing this. This is what inspires people. It’s not my words it’s listening to people nationwide, like yourself do wholesaling. We’re excited to have you inspire and motivate individuals nationwide on how they can also build a wholesaling business and how it can work for them. Super, super excited to deep dive one of your deals. Help us understand a little more about you and kind of fill in the gaps where I may not have said much about maybe your whole background behind all this.
Brenda: Okay, well I … since the absentee owner list I’ve been following up for several months now and this particular seller didn’t want to sell in the beginning. He wanted a lot for the property or market price.
Cody: And this came from direct mail, so when we’re getting already to the meat and potatoes of this deal you’re ready to rock and roll. You were sending out direct mail and here you had a gentleman reach out to you, and it’s an absentee owner but someone that was… did they live out of state, were they in state? Was this just like an investment property or what did that look that?
Brenda: This was a landlord. This was an investment property for him but he was just tired of the property. He wanted to sell, but he wanted to get market price. So I kept calling and calling until one day he just… we agreed on the price. We accept definitely a better price.
Cody: Well hold on. We are getting too quick to this. Hold on, there’s some meat and potatoes here. I’m going to slow you down even a little bit more. Just so our listeners can understand what this really looks like. That’s quick version. Now lets deep dive this even yet another step.
You send out direct mail. You get this gentleman to call in and he has an investment property. What was it that let you know he was sick of this property when you say “Oh he was just tired of this investment property”? What was it you were listening to on that phone call that let you know that he was tired of it?
Brenda: First of all, he said that he was old and he didn’t want to deal with the property anymore. Then he was not very happy with the tenants that he had. And then he said he was planning for a long trip but he wanted to kind of settle down everything first.
Cody: When you’re saying an older gentlemen, are we talking like 50s, 60s, 70s, 80s, 90s? Where are we looking in that scale?
Brenda: He’s going to be 80 pretty soon.
Cody: So close to 80 years old. He’s kind of to the point where he’s like I don’t want to deal with tenants anymore, I’m sick being a landlord. I’m not pleased with the tenants that are in there currently. Initially, you say you had this conversation with him and like a lot of people out there, they want full market value. Like “hey I’m ready to sell this, are you ready to give me full market value for this”. Is that kind of how that conversation looked like right from the beginning?
Brenda: Yes. And because I was starting, I just wanted to have some more experience so I went to see the house anyway. And I think it helped that he saw me and we talked a little bit more, so we build rapport. I kept calling and calling and then he finally excepted my price.
Cody: So you want experience. So Rhino nation here’s what I want you to take from this, first and foremost sometimes when we hear the right triggers, sometimes our mind will also shut us down quick. This is one learning curve I want to point out to all the new listeners out there and even experienced wholesalers out there, is exactly what took place here. So Brenda wanted experience. The guy asked way too much, he wanted full market value. And that just doesn’t work as a wholesaler, pay full retail price, but she wanted experience. She wanted to go out and she wanted experience by walking through homes and seeing what’s its like, talking to sellers. Now he had the right motivation responses, sick of the home, sick of the tenants, older in his years, he didn’t want to deal with property anymore.
So Brenda takes massive imperfect action. Now this is one saying I always tell everyone in the tribe to do, and that is progress not perfection. Put that saying above anywhere you’re going to be for more than 20-30 minutes during the day. I don’t care if that’s on your mirror in your bathroom. I don’t care if that’s above your computer or in your car in the visor. Whatever it may be, where you can always see this quote, progress not perfection. Brenda did exactly that. She didn’t know 100 percent what she was doing. She’s brand new in wholesaling, but she wanted experience and she was okay with going forward looking for a deal. And hey he wants too much but I want experience, so she did progress not perfection. She went out, she set up a great rapport, great relationship with this seller. How many times did it take…so that’s one big note, listeners that I want to point out, where she went super, super holy smokes taking massive imperfect action.
It didn’t sound like a great deal and I want people to understand that. By hearing the retail price, some of us kind of shut down. This is not a deal and they walk away. You went out on the appointment and then over the series of… I guess, how many times did you follow up with him and over how long a time did that follow up take place?
Brenda: Four phone calls and it took one month and a half.
Cody: Okay, so a month and a half and about four phone calls. And every time when you followed up it’s just still… what does that sound like? Are you calling and still just making an offer? Or just calling just to reconnect and talk about maybe things you talked about in the past? What does that sound like every time you call?
Brenda: No, every time I call I just wanted to just say hi, first of all ask if he was still interested in selling. Basically just to have a conversation, not a long conversation, but just go over remember I’m still interested and if you change your mind this is my phone number, you can reach me at this phone and that was pretty much it.
Cody: Holy smokes. So after the fourth time, this is where persistence wins every single time. Persistence wins every single time. So follow up, follow up, follow up, follow up. I try to tell this all the time and I learned this in my own wholesaling business, it’s he who has the persistence to keep following up, is going to be the ones that keep finding the deals. When people ask “Hey, how do you find these deals?”, I’m telling you, 80 to 90 percent of my deals come from follow up verses the maybe the 10 percent that’s on the spot. So majority come from follow up and there’s power in follow up.
The fourth time you called this gentlemen, what did that conversation sound like where finally it was like, okay let’s do this?
Brenda: He actually… he answered the phone and he said “You know what, I’m ready. Let’s do this.” Literally like that.
Brenda: He knew I was going to ask him about the property again.
Cody: Wow. So you call, he knows whose calling, “I’ve seen this phone number before like four times”. You’re on the other like and he didn’t even say “Hey can you come up a little bit?”, it’s just “Hey lets do this. I’m sick of this rental.”
Brenda: Yes, yes basically
Cody: Holy smoke! What was his original asking price, so our listeners understand what does this look like overall? What was the original, hey I would like to have this, and then ultimately what did you get it under contract for?
Brenda: He wanted 175 and I got it under contract for 145
Cody: Holy smokes. So 30,000 lower than what he wanted from the original first phone call, four phone calls later, you get it under contract for you said 145. So 30,000 thousand dollars off of what he originally wanted.
Cody: Does it pay to follow up Brenda?
Brenda: Oh yes, please do.
Cody: Absolutely, right? And then we were kind of talking before we started this podcast, well actually we’ll get to that. Tell us now, here you have this home under contact, ultimately what were you able to make off of this property where you said holy smokes, this is my profit from this property.
Cody: Oh you know its coming, hold on one sec. Get ready. The victory bell! That is a huge victory. So $11,900 because you chose to follow up with this gentlemen four times. Looking back, did it really seem like it was that hard?
Brenda: No, now it seems like it’s pretty simple. But when you are over the process, it’s a rollercoaster of emotions. But no, now I know the process so it’s great.
Cody: I love this because that’s usually the case for a lot of investors just getting into wholesaling. Their first deal is so crucial because it is it’s that rollercoaster of emotions. Is this real? Does this work? How many times am I going to call this guy before it evens turns into a deal? Will it ever turn into a deal? Will I ever find anything? And oh, I put out some money for marketing, is that money every going to come back, or is it going to go to this endless dark pit where I’ll never see it ever again? Here you are living proof that, yes because you took massive imperfect action you were able to find a deal.
And because of that, what I think is super awesome, before we started this podcast you said this morning, which is another huge victory bell. Lets do another ring. Get ready. You put another home, another home under contract, your second deal under contract. And here you have been doing wholesaling less than two months. This to me is absolutely like the smile on my face from ear to ear. You just started not long ago and you’ve already pulled in one deal that will be 11,900. Do you kind of have a ballpark of what you think you’ll make on this second deal?
Brenda: Well I’m definitely going to try to go for the 10K.
Cody: 10K. So here we have two deals that will make you $21,900 in just under two months time being a wholesaler. To me this is absolutely the best part of hearing wholesalers stories. You’re into this two months and you’re making more money in these two deals in these two months than what some folks make in their whole entire year working full time the 9 to 5. Man I love this, that’s absolutely awesome. Brenda, congratulations on both your first deal and this second deal that’s coming up.
Brenda: Thank you Cody, thank you and Tom. Thank you for Wholesaling Inc because definitely that’s what helped me doing this and continuing with my education and for the podcast, thank you.
Cody: That is absolutely you’re welcome and if Tom was here he’d be saying the exact thing absolutely. It is our honor and thank you so much for being part of the tribe. Now to help our listeners, help Rhino nation understand, because you haven’t been doing this that long. That’s what I love about this story is you have not been doing this long. So many people think you’ve got to be doing this for six months, a year before it all starts clicking. You’re doing after two months to where you can now just wash, rinse, repeat. Wash, rinse, repeat. What would you say since this is fresh on your mind, what gold nugget could you give our listeners, saying right from the beginning if you guys could do this what would that be so that you guys could start succeeding early like you have?
Brenda: Change your mindset. You have to be very positive and also follow up, definitely follow up.
Cody: Okay so mindset and follow up. What was the mindset… what did you have before maybe? What did you do to change your mindset and why was that so crucial?
Brenda: Definitely all the books that you recommended, Tom recommended. That definitely help you change your mindset. Take all your limitations, your limiting beliefs, that’s definitely key. And follow up.
Cody: That is awesome. And then follow up. I’m telling you, if that is the secret that is the biggest secret of all. Follow up, follow up, follow up, follow up. And when you’re done follow up again, and when you’re done follow up again. That’s where the deals come from. Would you agree?
Brenda: Yes. Absolutely, follow up.
Cody: Perfect, so you have given us a gold nugget, the mindset, the power of believing in yourself and the power of just reading books. What’s one favorite book maybe that you could give our listeners that you’d say hey this would be the book… if I could tell everyone to read it, this would be the book and why. Tell us one reason why you like that book.
Brenda: The book is Pivot: The Art and Science of Re-inventing your Career and Life from Adam Markel. Basically this one helped me because he tells you something like you have to be, do and have. So I had to think of myself as I’m an investor so in order to have a deal, in order to have all the stuff. So this is very good book that I recommend for your mindset shift.
Cody: Perfect. That book, name that book one more time.
Brenda: It’s Pivot: The Art and Science of Re-inventing your Career and Life from Adam Markel.
Cody: Prefect. Such a good book and I agree with you, helps with the mindset of what you need.
Okay. Well Brenda, thank you so much for joining our podcast. I am excited for your future. I am excited for your future deal that is going to be closing here shortly and then many more throughout this year. We will be in touch with you throughout the year to hear of your on going success. Thank you so much for joining us. I know taking time away, you’ve got family, you’ve got wholesaling, you’ve got follow ups. I know your time is important to a lot of people so thank you so much for spending it with us today and our listeners.
Brenda: No thank you Cody. Thank you so much
Cody: Okay, So Rhino nation this is yet another episode of how you yourself can get into wholesaling. This should help you with a mindset to understand, anyone can do this. I know that’s so cliché and everyone talks about, if I can do this you can do this. I know Brenda would say the same thing, if I can do this you can do this. This is has been an amazing podcast to understand the power of mindset and the power of follow up. If you just follow up on all these leads that are coming in, even though they don’t hot, they don’t sound ready, or they are asking too much money. There’s power in follow up, follow up, follow up, as Brenda did to where she made $11,000 or $11,900 in her first deal. Again she’s been doing this under two months, which is huge success.
Rhino nation this has been an awesome podcast to learn about those few gold nuggets. What I want you guys to do now is go over, if you have not seen our new website it’s wholesalinginc.com. It is awesome. We’ve got some amazing people that put together an amazing website. You are able to go around and play around on that website. What I want you to do is click on the testimonials tab and you’ll see people nationwide doing this exact same thing like Brenda has explained in this episode sharing their testimonials of how wholesaling has changed their life and what they have been able to do. What they have been able to accomplish.
Also, just another heads up, we have a huge event coming up in Salt Lake that I definitely want every one of our listeners to know about. This is for only tribe members, so you have to be part of the tribe, part of the program to come. There’s no outsiders involved in this so just tribe members. This is going to be Salt Lake City April 27th through the 29th. It would be so important to be there. The best part about this is we do not charge our tribe members. This is a free event for just being part of the tribe. So get in the tribe. We would love to have you, if you have been thinking about it, get on the wholesaling.com and book a call with our team. If we like what you have to say, we just might invite you to be part of the tribe.
Until next time Rhino nation, take care.