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Tips on How to Answer the Phone

SHOW SUMMARY:

Larry and Kandas are back for their very first Facebook Live episode in BRAG Radio. Recently, they have been getting back to the basics and doing a lot of marketing.

In this episode, they discussed the things you should do when the phone rings. They also talked about the questions you need to ask and other relevant things you need to know. Don't miss this episode!

SHOW HIGHLIGHTS:

  • SGetting back to the basics
  • Recent developments in their marketing
  • When people ask what the postcard is about
  • Questions to ask when people are interested in selling their house
  • Asking for the property address and pulling out the address
  • Finding out what's going on with the property before asking more questions
  • Asking about recent improvements on the property and the things that need to be done
  • Mirroring and matching people
  • Finding somebody who needs to sell
  • Answering the phone live
  • Giving a timeframe if you cannot answer the phone live
  • Best to worst of who should answer the phone
  • Negotiating deals
  • Choosing who to send postcards to
  • Lead management
  • Returning calls
  • Response rate

QUOTES:

  • "Mirror and match people."
  • "We are not just looking for somebody who wants to sell. We are looking for somebody that needs to sell."

RESOURCES AND LINKS FROM THIS SHOW:

SHOW TRANSCRIPT:

Larry: Welcome to the very first live Facebook or Facebook live, right?

Kandas: I don't know what you call that.

Larry: ...episode of BRAG Radio. We're here in our office in Lake Wylie, South Carolina. So I'm really, really excited that you guys are all here. Let's see. What do we have on here? Look! New Hampshire. Tell us where you're from, guys. Where are you from? Give us a little quick shoutout. There's Bryan Lee from New Hampshire and Tina King says, "what's up? How you doing?" Guys, thanks a lot for being on. I really, really appreciate it. This is BRAG Radio network. It's all about being rich and generous. That's what the show is about, being rich and generous. Look, we have Nadine Cooper also. We just got New Hampshire up here.

Kandas: I don't know what's going on. They must really like us.

Larry: Right. That's good. That is good. Alright, cool. So, Kandas, we got a really cool show plan today.

Kandas: Do we? Do we have anything planned?

Larry: Kandas has no idea what we're doing.

Kandas: I don’t know, but if you guys are listening to BRAG Radio before, that's not really anything new.

Larry: Right. Kandas has been out there. We have actually been getting back to the basics, haven't we?

Kandas: We have.

Larry:
We've been getting back to basics.

Kandas: And this is brutal.

Larry: I can't tell if you could see me or not.

Kandas: They can see you. You're in there. They can see you.

Larry: I don't know if it's this one or this one.

Kandas: You're in both of them. They can see you.

Larry:
Anyway. Touching you. Our knees are touching.

Kandas: I miss the studio.

Larry: It's kind of weird. Anyway.

Kandas: Cool show you say.

Larry: I know right? Basically, this show is all about being rich and generous and Kandas and I have been getting back to the basics. We've started doing a lot of marketing recently. We're doing a lot of DirectMail, right?

Kandas: A lot of direct mail.

Larry: A lot of direct mail. We're doing about 25,000 pieces a month which is a little over 6,000 pieces a week.

Kandas: Right. I was actually not expecting the return that we've gotten like the introspect that we eventually had. I thought it would be lower.

Larry: Do you mean the number of calls?

Kandas: Yeah. I don't think I was expecting it to be this much action off of that postcard.

Larry: You know what we've got is, here's why it works, guys. On monday, how many calls did we get on Monday, just about?

Kandas: Probably 300-400. Just on Monday.

Larry: Over 300 calls a day on Monday. And on Tuesday, Kandas, what you want to do is you want to send your mail out to where it hits on Monday. So, our mails goes out on Friday and it hits the houses on Monday. So Monday, the phone literally rings off the hook.

Kandas: Nonstop. Starts at about 11 o'clock.

Larry: I know right? When the mail hits. And then on Tuesday, we'd probably get a couple of hundred calls, right?

Kandas: I would say at least 200-250.

Larry: Yeah. So we get a couple hundred calls on Tuesday and then on Wednesday, we get maybe a hundred-ish? Wouldn't you say?

Kandas: Yeah. Between a hundred and two hundred.

Larry: Yeah. And then Thursday, it starts tapering off a hundred fifty. Listen, I get calls. Kandas gets calls. I mean they're in the round robin, right We have this lead sheets that we fill out, own people.

Kandas: Some of us do. Some of just write on scratch paper making it very hard.

Larry: Yeah. Like this right here, and this right here.

Kandas: That's the money lead sheet.

Larry: That's my lead sheet right there. Listen, I already bought a house today, didn't I?

Kandas: Two.

Larry: I bought two houses today. Yesterday, I had a guy that wanted to get me a house, right?

Kandas: And how did that work out?

Larry: I ended up offering him $10,000 for it because I didn't want to take advantage of him. It was a nice house. We could probably sell it for 25 so I thought I might give him 10. I said, I'm not going to take your house. I said, I'll pay you for it but I'm not taking it.

Kandas: Here's the thing there, we weren't trying to take it. He was trying to give it. There was no take. He was trying to give. You should be a more hospitable recipient.

Larry: We give, give, give and never take them. Give, give, give and never take, right? So anyway, the phone has been ringing off the hook and what I thought we would share today are some things that we're doing when the phone rings. So, Kandas, would you mind going through some of the stuff that we do whenever the phone rings, some of the stuff on your leadsheet. Don't take my lead. That's my lead. I'm going to buy that house later.

Kandas: You better get to it. How old is this one? When did you get this one?

Larry: Well, I left them a message on the thirteenth and I called them back again today.

Kandas: Alright. Make it sure you stay on top of it.

Larry:
So how's everybody doing out there? Give us a shoutout. By the way...

Kandas: This is going to be tough for you because you asked me to do something and then you get caught up and see who's watching us .

Larry: I know right? That's funny.

Kandas: Squirrel. Squirrel.

Larry: I know right?

Kandas: So, whenever the calls come in and they do ring. It rings nonstop. It rings in the middle of the night. It rings first thing in the morning. It is ringing at 7 or 8 o'clock at night. It's all throughout the day. When I get on the phone with somebody, typically they just want to know what the postcard is about at first. Now, that I think is something that will adjust with the next mailing that we do because we've adjusted the postcard.

Larry: Right.

Kandas: So that should take some of the explanation of why we send the postcards to them, but when I get them on the phone and I let them know what it's about, they're interested in selling their house. I ask them questions just you know, type of home, brick, wood frame , double wide, single wide, if they know the year built. Sometimes, they do; sometimes, they don't. Bedrooms, bathrooms, the lot size, if they know what the tax value is. In our reality, guys, I can find, and most of this out on my own, and I do find most of this out on my own. One of the very first questions I ask them is what property address are we talking about here? Is this a rental house for you or is it a primary? Do you live there now? So, I get that information and I'm already pulling out the address so that I have a little bit of knowledge about what's going on with the property before I start asking the question. Even though I can see it on the screen, I still verify with them what it is because we both come across situations where, online it says one thing but you talked to somebody or you go out there and it's something different.

Larry: Right. Which by the way guys, we try to buy them over the phone. Our goal is to buy them over the phone. For example, this afternoon this broadcast, I'm going out to Spindale, North Carolina to meet a lady, she and her daughter, and they just really wanted to see us face to face, right? So I'm going to do that. Now, most of the people though, you can buy it right over the phone.

Kandas: That's what we've done.

Larry: That's what we've been doing and we've actually just from our direct mail, we got 700 contract in the last three weeks.

Kandas: Eight.

Larry: Eight hundred contracts in the last few weeks, so that's not bad just from direct mail. We could have been given one house that I had known, you know..

Kandas: I think too, you've got to look at, like we've done DirectMail in the past, we just rent it back up.

Larry: Years ago.

Kandas: Long time ago. All the assistance that we had in place there to handle the lease, we didn't have now. I honestly feel like we have missed some deals. I know that we have missed some deals by calls. We didn't have a plan in place before we started dropping mails. Larry, you all know, he's the type of person to ready, fire, aim, last of all. That's kind of what this did but it has put us in a situation, typically it would really, really frustrate me but it has put us in a situation to where now we know exactly the systems that we need to put in place instead of guessing, building a bunch of stuff out, and it being wasted.

Larry: Right.

Kandas: So I'm actually okay with it this time. I've been freaking out with not having any type of control with whatever was happening with that, but as an integrator that is something that would have typically bothered me before.

Some other questions that I ask them are recent improvements to the property. Have you done any updates lately? How is the roof? Does it have central heat and air? Does it have window units and some other type of heat? Is anything needed? Is there anything you know needs to be done? Is it major repairs? or is it just kind of cosmetic repairs? And you can tell when you're on the phone with these people especially if it's like a landlord or something, you know this guy does have a rental property, you adjust your language to fit however they're carrying in the conversation. If they're using real estate terms, you can use real estate terms. But if you're talking to a homeowner, that's living in the property and just thinking about selling or maybe it's a property that they inherited and they just don't know what to do, you can't just use lingo and terms, and things like that. You're going to be way over their head.

Larry: Right. That's a good point.

Kandas: It's almost like mirroring but you know what I mean?

Larry: Using their verbiage.

Kandas: Yeah. You use the same verbiage they use.

Larry: What was that word I made fun of you the other day? I've put it in my Kandas-isms and you said you only use it because they used it. Do you remember that?

Kandas: Oh it was yesterday.

Larry: Yeah, it was. You made up a word. Oh, you said agreeance.

Kandas: Agreeance.

Larry: If we could come to agreeance. I'm like, what is that? You mean agreement?

Kandas: This guy have used the word agreeance earlier in the conversation right on spot when we got on the phone. Later, when I was telling him kind of how we work, what I would do is hop off the phone, find out some of the information, do some research, find out the information that he wasn't able to give me by doing some added research and then be able to give him. In that way, I could call him back with an offer that we felt was fair for the market. That's another thing that Larry is really good about. Telling them when he's on the phone explaining kind of how we've come up with our values as it's not just a value we pulled out of thin area, it's one that is market supported. It's one for the area where the house is that we're actually looking at.

Larry: Right.

Kandas: So I used that word agreeance when I was getting off the phone with him because he used it earlier and Larry heard me. I sit right outside his office now with the lease, I kind of moved my office over this side of the building to be able to handle all these influx of leads.

Larry: But you know, I just want to stop right there and mention. I've got to show this. This is good. Bryan, thanks a lot man. I appreciate that. That is good advice, Kandas. What you want to do is you want to mirror and match people. You want to use their lingo. If they use certain terms and certain words, you want to use that too, right? That's very, very important because it gets people to like you and trust you more. That's what this is all about.

Kandas: Right.

Larry: In fact, one of the first things I say to people when I get them on my phone and I'm sitting right here in my office, and whenever Kandas, she tease them up, right? And then I call them. One of the first things I say to people is "what's going on in your life right now that causes you the need to sell your house?" Because, we're not just looking for somebody that wants to sell. We're looking for somebody that needs to sell. Does that make sense?

Kandas: Yeah.

Larry: That's very, very important.

Kandas: There's a big difference. And then, with these postcards, people get these postcards and some of them haven't even ever thought about selling, so they really don't know. They've never talked to anybody about selling the house before, maybe they've been in this house for 50-60 years, and they don't know. But maybe they're facing a life change where they need to move into some type of community home, you know, something like that, like an assisted living type of situation or maybe if they know somebody is willing to take their property kind off their hands and give them a nice offer with it, they can move in with a family member or something like that. So, it puts an idea in front of people that maybe they hadn't thought about before and I think that's a big point with direct mail that doesn't get talked about enough. People don't really know that they want to sell until they start spinning the money in their head of what they could get from it.

Larry: That is so true. One of the things that I think is really, really important, guys, there's a lot of people out there that when they're doing marketing, whether it's Craiglist, DirectMail, Facebook, whatever it is, they have to go to a voicemail. They have a service or voicemail service or something like that, and then they call back and listen to the message. I'm a firm believer that if you can answer the phone live, you have a much better chance of negotiating with that person, getting them to like you and trust you, and being able to do the deal.

For example, one of the two deals I loaded up yesterday was somebody that just called in. We had never spoke to them before and they called in, I answered the phone, and literally within ten minutes, I was getting their home address to FedEx them a contract, right? You know, just by answering the phone, you can get deals. So, the first thing I would suggest in lead management is answer the phone live.

Kandas: If you can at all. Now you guys know. I mean, how many people do we have in the round robin that are answering the phones?

Larry: Me and you.

Kandas: Right. Now, me and you.

Larry: The two of us.

Kandas: Initially it was four. Now, it's two of us.

Larry: Right.

Kandas: There's no way that Larry and I can answer the 350 or 400 calls that come in on Mondays alone. Most of those are going to go to a voicemail depending on the length of conversations that we're having with people and how far we can get on the first call because you can get further to knock in, right? For now. And depending on when we're able to get them back on the phone. When I tease them up to pass over to him, I have to get them hyped to talk to him as well. I have to let them know that he is going to be the one you know, calling them back. Give them a name if somebody other than yourself is going to be calling them back, and also try to give them a timeframe so that they are expecting a call, they're not waiting in limbo, right? But if you can at all possible answer the call live, then definitely do that but if you can't, then you need to have some type of a reliable voicemail system set up to whether you're checking it or you go into like a PATLive situation where somebody is answering it live and feeding you the lead.

Larry: Right. Now if you can afford it, then there are a lot of people getting starting in the real estate, you're working on a full time job, right? But if you can afford, either answer it live or have someone like a a PATLive. There's also some other companies out there that they do that. They do have virtual assistants in the US and overseas. They will answer the phone for you.

Let me tell you in order of importance from the best to the worst, but you should have answering the phone is going to get the best results. Number one, if you personally can answer the phone, that's going to give your absolute best results. Number one, because you're the one that's going to deal with them throughout the whole process, right?

Kandas: You can make the decision right there on the spot.

Larry: Exactly. The absolute best person answering the phone number one is you. The second best person answering the phone is probably going to be another acquisition manager. I should say you or whoever the acquisition manager is going to be. If you're going to hire someone to do it and they are going to deal with the person throughout the whole process, then that person should answer the phone. The second best is going to be a lead manager in house, inhouse lead manager, and that's what Kandas is doing in our business right now. She has stepped to the play. That's not what she normally does. She's normally up here handling other stuff but we've got all these calls coming in. We need to answer them and we've got eight deals in the last 3 weeks of calls, right? So each one of those deals is going to net us anywhere from $10,000 to $20,000, right?

Kandas: Right.

Larry: One of those we already have sold.

Kandas: I was thinking, the one we already have sold, yes. It's going to be a simultaneous close but the other one I'm thinking about is we got a call, the postcards that went out, went out to property owners and so some of these houses though or things have been torn down, so there are lots or vacant land and things, so one of the deals that we have is actually a really sweet opportunity I think if it can work out. The Hickory parcel deal, that one can you know, upwards from $150,000 to $200,000 however we'll sell it.

Larry: That's true. We're buying a six acre parcel of property and we're buying it for $57,000 and it's owned multifamily for 120 units. You know, we might be able to get $150,000, maybe $200,000 out of that lot. They were paying $57,000 for. Now, worst case scenario, it is currently used as a mobile home park. We'll it's currently not used as anything. It’s closed down.

Kandas: Right.

Larry: But it's got 24 mobile home park pads, water, and sewer. So, worst case scenario, we clean it out and we start renting mobile home lots up to 24 mobile home lots.

Kandas: Yeah. It's just overgrown. It just kind of needs to be bushed out. I think the lady said.

Larry: Yeah. That was her term. Right? But anyway, there's so many opportunities. One of the deals we've bought in the last few weeks that we actually already have sold was while I was on the phone with the guy, he kept telling me that, "I don't really need the money." "I don't want to pay taxes." "I don't need the money." He must have told me three or four times, "I don't need the money.

Kandas: Almost talking himself out of selling it, altogether.

Larry: Right.

Kandas: ...because it has been vacant, just sitting there hadn't been doing anything with it anyway.

Larry: Exactly. So, what I did was, you know you mentioned a few times that you didn't need the money.

Kandas:
A few times.

Larry: A few times, right? A time or twelve. He was on $80-some thousand and I needed to be around $60-something, so we were a little bit off. Not of ton but a little bit. So I said, I said I'll tell you what I might be able to do to get you your price. I said, you know, this is something we've done with some people in the past. I said, if you'd like, you could finance it for us. You could sell or finance it and take what's called the installment sale, and you only pay taxes on the money in the year you receive it. So we could set it up where we will pay you every month and it would be secured by the property itself, so that's exactly what we did. Now, he never mentioned down payment and I didn't neither, right? Neither one of us ever mentioned downpayment. So he is financing eighty-couple thousand dollars, $82,000 and no money down, and we already have the property sold. We already have the property sold for 999 and the person has put $18,000 down, they know what we're paying for it. And the guy who is selling us the house, I told him, I said, all we're going to do is find someone that's going to give us a downpayment and that will even give you more of a security, right? Does that make sense?

Kandas: Completely upfront and honest with them. Really, all you wanted was the monthly payment so if he like the fact that he wasn't going to have a huge tax bill because that was part of the reason he has decided to sell it anyway once the taxes were due. So, he just was really ready to just have that debt taken off of him with something that wasn't producing any income.

Larry: Exactly. He only free and clear it, inherited it, i think. You know, that was it.

So Nadine has a question, she wants to know how do you choose who to send postcards to? How do you identify likely sellers? We'll, there's a lot of sources out there like ListSource.com, CoreLogic.com, there's other places you can buy a list. What you typically want to do is look for what they call absentee owners. People who own a property here, but they live over here. Absentee owners. Now, some of the ones we mail to, they live in the house, right? Some of them, but absentee owners is probably a better list but also, you want to look for people who have owned the property in minimum of 10 years. There's other list out there as well. There's probate, there's Inherited, there's code violations, the legal taxes. There are so many different types of lists, but for the most part, most people DirectMail to absentee owners, inherited property, probate, code enforcement, but with the absentee owners, they're going to send them out to people who have owned a minimum of 10 years.

Now what we like to do is we like to make sure that the property value is $100,000 or less, because what we have failed is that it's much easier to sell a house if we could sell it for $30-, $40-, $50,000 especially wholesaling, right? Does that make sense?

Kandas: Yeah.

Larry: Yeah. That's exactly what we want to do.

Kandas: Now, in what we did, like what Larry was saying all of these different types of lists and you can drill down and get really, really specific on the types of properties that you're wanting to buy. The list burglars will work with you to get your specific demographic. What we did was more of a blanket list that covered a bunch of different things.

Larry: Counties. Multiple counties.

Kandas: It's just by counties and so we're getting all kinds of stuff, like I said properties that have been torn down, so they're vacant lots now, inherited properties, people that are absentee owners that have three to five to ten properties. You know, they're landlords that have a portfolio and maybe they're in their 80s. Maybe they're ready to get rid of some of these which is what we found as well.

There was one couple that I talked to earlier in the week and they have a portfolio of properties. The wife runs everything for the most part and they're only willing to sell one a year. That's it. That's their plan. I think she said they have seven properties left, and they're only looking to sell one a year.

Larry: Now, just so you know. I called her as well and I tried to do the exact same thing I did on this other property. And I even said, recently I was talking to a guy, because I knew if she was only selling one a year, that her tax advisor told her that. So I asked her, why are you only selling one a year. She said, so I don't have to pay much taxes. Right? So I said, I just helped somebody last week. Let me see if I can help you. So I said I might be able to give you what you want and help you avoid paying taxes. So, we were all the way down to where do you want me to mail the contract? Right? I mean, she was excited about it, and then she said, "Now, wait a minute. There's just one thing we hadn't talked about, how much are you going to put down?" and she wanted $5,000 down, but I was only buying the house for twenty grand. I couldn't $5,000 down on a $20,000 house. That didn't even make sense. Plus, she only wanted to finance it for like five years. I said, well, well amortize it for maybe ten or fifteen, but we'll pay you off in five years.

Kandas: Yeah, we won't have a prepaid penalty like in the contract.

Larry: Yeah. Exactly. Plus, we want it to be assumable. We always want our loans to be assumable where there is no due-on-sale clause. In that way, if we get it under contract with all the financing, we can wholesale it to somebody else. We're not going to keep it and let them pay us a money down and that's like wholesaling this finance deal, so that's really cool. That works out really well.

Now, we've talked about lead management. The next thing I want to talk about is returning calls. So when Kandas tease them up, it's my job to get on the phone and call them back. Now, I will tell you. You'll leave message after message after message, so it's always good to get their phone number. Find out if it's a mobile phone, if you can text them, and also get their email address. But I'm going to be totally transparent with you. A lot of the people that we're talking to, they don't have email, do they?

Kandas: They don't have email. They want you to come out. They want to see your face. Some of them do.

Larry: Some of them do, like I'm going this afternoon.

Kandas: But at a minimum, they want you to mail the offer. They want you to mail the contract out. So you will not email it, not fax it, they want to mail a copy of it, which is fine. That's what we do, and when we do mail it, I can speak to this as well, when we do send out a copy of the contract, we send it out overnight via UPS and we send it with a return envelope back to us inside that envelope so they don't have to do any work but sign it where I have highlighted, and stickies, you know, please sign here and stick it back to the envelope and send it back to us. So you want to try to make it as easy for them as you can.

Larry: That's awesome. That's a great point. That really is. We do try to make it as easy for them. We also put a cover letter in there as well to kind of give them an overview of who we are, what we do, and that sort of thing.

Kandas: ...and the conversation that you had with them confirming the price.

Larry: Referencing.

Kandas: Right. Confirming the price and if they return to anything like that.

Larry: Exactly, exactly. So once I get them on the phone, I'm just really finding out what's their pain button. Why do they need to sell? Are they moving into a retirement home? Are they moving closer to their family? Or did they inherit it and they just need to get rid of it or something like that, right? So I find out what the pain buttons are. What has caused you the need to sell this property? I talked to a guy earlier today, he said, I don't need to sell it. "I want it free and clear" and he said, "If you're not going to pay me what I want, we're done talking." Right? And that's fine. It's not a problem. You know, the only thing I can come back with that is, let me ask you a question, you know I noticed here you only paid 12,000 for it. You're asking 84. You're probably going to have a pretty hot tax bill, aren't you? Well you know have you ever thought about owner financing it? That would help save you a lot of taxes, right? So that's really the only place you can go or something like that. Guys, if you get out there and mark it, it will blow you away, some of the deals that will just fall in your lap, right?

Kandas: And then another thing that you could do with a guy like that that is just straight forward, you know, I'm not going to sell unless you're going to give me what I want, well I mean, have you even talked about what you wanted? What is it that you want? Let me see with the market. I've heard you on the phone. Let me see if the market supports what it is you want. I really want to help you out but you know it has got to make sense for both of us.

Larry: Right. Right. That's a great, great point, Kandas. When I'm on the phone with somebody, I'm not telling them, based on my numbers, I can pay this. What I am telling them is, well let's just put up here and see what other similar houses are sold for in the neighborhood. I say, because I really don't determine how much I can pay. You know, the market basically determines, right? I had a lady on the phone yesterday. She said, "Well I don't care if other people are paying $25,000 or $30,000." She said, "If they really like my house, they'll pay $80,000.'

Kandas: That's true.

Larry: I said, well I'll call in six months and see if you still got it.

Kandas: That's the case too, you know, if they know what you're going to offer... I think I've said this earlier, they'll start spinning the money in their head and so I'll really think that there'll be call backs with "Hey, you know, I talked to you a few months ago. You said you'd offer me this for my house, how about I'm ready take that or could you meet me somewhere in the middle?" I really feel like there's a ton of those conversations to be had as well. Once they start spinning the money and they see things that they want but they can't have because they don't have the cash right now or something breaks in the house and they have to fix it. Like you know, we have a lot of rain and the roof starts leaking, you know?

Larry: Right.

Kandas: Or something major starts going wrong with the house and they're like, "Ugh! I could have sold it. I could have sold this then." You know? Then we get call backs like that.

Larry: That's so true. I would like to ask questions that I know the answer to. I know she's already asked, does it have heating and air? So I'll ask, does it have air conditioning? They'll say, "no" I'll go, "Oh, it doesn't. That's going to cost quite a bit. Let me make a note of that." Right? I'm doing this over the phone, right? So there's a lot of stuff like that you can do, right?

Kandas: There is. I think it helps when you start picking up some momentum and like we've got these under contract, you know all these mailers, people are still calling back from the same county, and on the statement when we say I've just looked at a house on the other side of town.

Larry: Right.

Kandas: You know, and this is what they're going for and it's kind of similar to your house; or we actually had a callback from a guy that was selling the house down the street from a house we owned before. So, when you get some momentum, I think it really helps to kind of price condition with what you are and you know the markets given.

Larry: That reminds me. I had a guy yesterday, Kandas, over in Spindale, on Florida Drive, and we just got that house under contract in California. The owner is in California and the house is on Florida Drive, right? So I was talking to another guy that owns a house in Florida Drive, and we bought this house. We got the house under contract for ten grand. That's the guy who tried to give me the house, right? That's the guy who tried to give me the house, and I said, no let me pay a something for it. I'd give you ten grand. So, this other guy has a house on Florida Drive, and he wanted 30,000 for it, and he has a lot of rental property. I said, I'll tell you what, if you're asking 30, I got one on Florida Drive. I’ll sell you for 25. So he said, "what's the address?" I said, I'd tell you what, soon as I get the paperwork back on it, I'll send you the address. You're going to look at it, right? So I might sell him the house because he already owns another house on the same street, right?

Kandas: He likes the street. Yeah. He likes the street.

Larry: Let's see. Bryan wants to know, "What is a good response?"

Kandas: We're working that out.

Larry: Well, let me tell you something, our response is we're mailing about 6,000 to 7,000 pieces a week and we're probably getting... a one person response rate would be about 60 to 70 calls, right?

Kandas: Yeah.

Larry: Now, 10% response rate would be about 600 to 700. That's closer to what we're getting, ain't it?

Kandas: Closer. Yes. 600, I would say 700 to 1,000 depending on the week.

Larry: That's great, but I've got to tell you. The postcard we send out is designed to make the phone ring off the hook. It basically says final notice. I mean, we get some people to call up and say, "what do you mean final notice? This is the first time I've heard from you." Right?

Kandas: Freak out. People's kids will call, "what do you mean sending this to mama?" They're freaked out.

Larry: We got a call from an attorney the other day that said, "If you send one more piece of mail to my client, we are going to file suit." And I said, Ma'am, I'm not trying to be smart. I'm just trying to learn because I don't know. Can you tell me what law I'm breaking by sending out a postcard? She said, "well there's people out there that do what's called fishing to elderly people." I said, I have no idea that ages of people that own houses.

Kandas: Right. That's not part of our demographic.

Larry: I have no idea. All I'm doing is send out a mail so I hope that answered your question, Bryan. Awesome. Lola says it's great information. That's cool stuff. That's good. Thanks a lot.

So guys, we've talked a lot about lead management, about where to get your list, ListSource, list CoreLogic, whatever. You can look them up at the local tax assessors office if you want to find tax delinquent or probate office. You can do that. There are sources out there that do that as well. We've talked about taking calls, returning calls, negotiating deals to sending out the contracts. That's about all there is to it, is it?

Kandas: I mean, that's about it.

Larry: Please don't get overwhelmed. Now, one last thing, if you guys would like to work with us personally one on one, we have a partner program where you can work with us. We'll help you with your marketing, get your marketing set up. We'll get all your systems, processes, and procedures. It starts with three days in my office.

Kandas: It starts with three days.

Larry: Starts with three days in my office, and my goal is to get you your first three deals in 90 days. That's my goal, right? That's my goal, is to get you the first three deals, bought, sold, money in the bank in 90 days, and we're going to work with you personally one on one and it starts with coming to my office for three days, and you get to hang out with me and Kandas.

Kandas: I'm going to be on the phone.

Larry: I'll be on the phone too.

Kandas: Like hear me on the phone.

Larry: ...but you'll be listening to me on the phone doing deals and then you're going to get on the phone as well. So if you have an interest on that, go to LarryGoins.com/apply and we appreciate you guys watching. Thank you so much for watching BRAG Radio and we'll see you next Wednesday at 2 o'clock. Bye, bye everybody.

Kandas: Bye guys.