Larry and Kandas were joined by some of their amazing team in this Halloween episode to show off their costumes. This episode is the 2nd part of last week's discussion on direct mail. They talked about the different things you need to set up when doing direct mail.
Kandas: Hey, guys!Welcome to BRAG. Larry is closing doors. We moved to a different location. We’re trying to move around a little bit. Happy Halloween, by the way.
Larry: Hello, hello, hello. Happy Halloween.
Kandas: You look exactly the same.
Larry: What do you mean?
Kandas: If you’re wondering, we didn’t dress up for Halloween.
Larry: No. No.
Kandas: However, we do have a surprise for you, a couple of our staff members that did dress up and they’re going to join us here in a few minutes to show off their costumes for today.
Larry: I know they’ll be up here in just a few minutes. So yeah, I’m really excited that you guys are here. Thanks so much for watching and this is awesome man. It’s Halloween, right?
Larry: If you haven’t already, if you’re just watching maybe for the first time, you can get a free Investors Kit. Call 877-LARRY-GO and you’ll talk to the princess herself Zenobia, right?
Kandas: Yes. We have our own resident Indian princess and she’ll be in here in just a minute but that’s who answers the phone on the weekend and we got a few guys that are calling in to get their Investors Kits. Now, it’s not a question and answer hotline or anything like that, it’s to get your Investors Kit, but she can direct you if you have questions as well so you can call 877-LARRY-GO or text the word B-R-A-G to 803-897-6063.
Larry: And look, here she comes now, the princess.
Kandas: Our Indian princess.
Larry: Come over here.
Kandas: We are just telling them to call. So this lady is dressed up today.
Zenobia: Hello, everybody.
Kandas: She is in her Indian attire. Told you guys we had one.
Larry: You didn’t believe it that we have our own Indian princess.
Zenobia: You should do.
Larry: Right here in the US, right?
Kandas: Right down the hall.
Larry: Right down the hall.
Zenobia: I’m tangible.
Larry: I love it.
Kandas: Yes, she’s tangible.
Larry: Nonvirtual. Tangible.
Kandas: She is getting fuzzed what we’re going to start saying. We don’t have a virtual…
Kandas: VA. We have a tangible VA.
Larry: Oh, that is awesome. I love it. I love it.
Kandas: So then we also…
Zenobia: It also means hello everybody.
Kandas: So then we also have Teresa who dressed up. This is the woman that we trust with our money. Believe it or not, and she, if you… If you can’t tell, she is a one-night stand. Complete with light.
Larry: She can light you up.
Kandas: Complete with light and…
Teresa: Thank you so much.
Kandas: And dust bunnies. So you guys, you guys say that we have a lot of fun. We really do have a lot of fun. So you guys…
Larry: Now, now before tell them before you go, Teresa is actually Kandas’s mom, right?
Kandas: Yeah, ifyou guys wonder why I’m crazy. This is it. This is it.
Zenobia: The source. Here’s the source.
Kandas: There you go.
Kandas: Wonder how many views this BRAG episode is going to get.
Larry: They’re taking care of our money. Believe it or not.
Teresa: We do a good job.
Kandas: You do. You do a great job.
Alright guys. That’s good. Thank you for being a good sports and dressing back up. I know you…
Teresa: Thank you.
Larry: Yeah, get on at it.
Kandas: So that was our… Those are our best costumes for today for Halloween and those are the ladies that are really good sports and we’re even better sports for being able to come over and be on Facebook live with that. So…
Larry: I know right?
Kandas: You know. There you go.
Larry: That’s really cool.
Kandas: But Z is personally going to answer the call for the Investors Kit.
Larry: Oh, tell them what they get. Tell them what they can get.
Kandas: Oh, in the Investors Kit are copies of the digital versions of the HUD Homes Half Off Book, Real Estate Day Trading books, and training on our Filthy Riches model, Wholesaling model, Real Estate Day Trading, some asset protection stuff… Various things we just throw in there to try to give you guys some good value.
Larry: Look. It’s Van Halen girl right there. We’re in a Van Halen shirt. Not today.
Kandas: Not today.
Kandas: Today, today I am a proud sponsor of… I don’t know if you guys can see this, but a Veterans Path Up and they’re an organization local here to Charlotte. They have several chapters around the country but yes, Ken Lacyand his crew over there do a fantastic or phenomenal job of helping on our veterans, making sure that they get safe housing, helping them get a new start into a civilian life when they’ve fallen on some hard times. So, proud sponsor of Veterans Path Up this week.
Larry: That’s absolutely right. Awesome. And guys if you want to win, this is something we’ve never done before, get a one-on-one coaching call with me. Just a one-to-one.
Kandas: Who decided that?
Larry: I really didn’t talk to you about it first. Just one, just one, right? You’re going to have to send me your number and I’ll call you, right? I’ll call you and we’ll do a one-on-one coaching call. We’re going to find out where you are, where you want to be, your likes, your dislikes, strengths, weaknesses, assets, liabilities, where you are now, where you want to be, then we’ll come up with a game plan to get you there in the shortest possible timeframe, right? How did you like that? The shortest possible timeframe right there, right? So, share this video now. Share it right now and we’re going to pick one person and you and I will get on a one-on-one coaching call and I don’t care if you’re brand new, could barely spell real estate last week or you own 2 or 300 properties. I’m sure I can help you come up with some sort of a game plan to help you take it to the next level or get started right away. Right, Kandas?
Kandas: Or have a little more fun doing it.
Larry: Right. We don’t have fun doing it.
Larry: No. Not at all. So…
Kandas: I’m really chained like to a desk here. Y’all can’t ever see that but that’s what happens.
Larry: That’s not true.
Kandas: I’m kidding.
Larry: That’s not true.
Kandas: I’m kidding. I’m kidding.
Larry: She is standing up and then look at our stand. There’s our stand right there.
Kandas: This is our setup for today.
Larry: Because we wanted to come to you live from our inner circle training room. This is our training room. You mind if I show this around the smidge. This is our training room right here. There’s the whiteboard. There’s all of our desks. We have, how many people do we have coming next week?
Kandas: We have 23 coming next week.
Larry: These are all testimonials right here, on the wall of successful students that have been to our office and are out doing deals and making money and having fun… That’s my office right there. And trophies…
Kandas: It’s a tour day.
Larry: It’s a tour day, Kandas says. Trophies, another whiteboard, more testimonials. These are just a very few, you know like, look at this one right here, right? That testimonial right there. Within 3 weeks of coming to our office, they did a deal and made $20,000 in profit, right? Here’s our core values, mission statement, more testimonials… But this is our training room. It holds about 24 people. We have… how many did you say, 22?
Kandas: 23 coming.
Larry: 23 coming. So, it’s almost full. We do it about once every what? 2 months something like that?
Larry: And that’s our partners that are coming, right? It’s our partner program where our partners are coming to get their business set up or to take it to that next level.
Larry: So anyway, there you have it. If you want to hear more about that, you can actually go and apply to be one of our partners. Go to larrygoins.com/apply, right? Does that makes sense, Kandas?
Kandas: Yes, it does to me.
Larry: Good. Did we announce our winner?
Kandas: You just told them like if they share what the next winner is going to get.
Larry: Okay, good. Here’s our winner right there.
Kandas: So this winner…
Larry: You tell them while I go get my notes for what we are going to train about.
Larry: I’ll be back.
Kandas: This week’s share winner from last week’s shares is Mary Gallardo. Now, last week we gave away a free HUD Jump Start. It’s available on our website. What’s the price of the Jump Start on the website?
Larry: It’s $497.
Kandas: It’s $497 on the website. So, this was a free gift now given to Mary Gallardo for our share sponsor for last week. If you’ll email in to customerservice@larrygoins Mary, I will make sure that you are squared away with that access to the HUD Jump Start.
Larry: Awesome. Awesome. That’s really cool. So what’s next Kandas?
Kandas: Deal of the week?
Larry: Deal of the week. The deal of the week… Okay, I had a hard time coming up with a deal of the week right here. I had a hard time coming up with it, but the deal of the week I picked, I picked it for a specific reason. I’m buying two lots, two building lots in Hickory, North Carolina for $1200, twelve-hundred-dollars. Now, just about anybody even if you have to close on them, you could do that. Put it on a credit card, bank borrow, everything, but steal. You know, find somebody to loan you $1200, but we’re going to turn around and sell this for probably around 6,000 a piece. 6000 a piece, we are buying them for 600 a piece then we’re going to sell them for 6,000 a piece. They came from direct mail. It was somebody who owned it and the husband passed away. They did not want them anymore. They’ve own them for years. They’re just tired of paying taxes and I told them I said “Look, little lots like that, there’s not a whole lot of value in them, so we really usually typically only give 2 or 3 years’ worth of back taxes, not back taxes but taxes for the lots, right? So that is usually about all that we give for them and… But I said I tell you what I’ll do. I’ll give you, you know 500 a piece and then she said, “Would you give me at least 600 a piece? So 1200 bucks instead of 1000 so I said “Ahhh, you’re killing me here.” So anyway, for you partners, I recorded the call. You’ll hear that on the… We’ve got a drop box where I record a lot of calls that I’ve done and do on a weekly basis and I upload those for you, for you guys to be able to listen to those as well. So that is the deal of the week, two lots for 1200 bucks, pretty cool, huh? Alright, I was expecting you to say “Yes Larry, it was.”
Kandas: I was looking at Manny’s comment asking “Did you get out of the mud okay?”
Larry: Got to tell you the story. So. I go to look at this lot because this lady has…
Kandas: Not the same lots that he is talking about buying for the deal. This is a different set.
Larry: No. no. no. Not the same lot. I went, I went yesterday to look at a piece of land, 15 acres, and when I asked the lady on the phone how much you want to for it, she said “I’ll take $18,000.”
Kandas: And this wasn’t just one conversation though.
Kandas: This is multiple conversations of going, of talking to this lady.
Larry: It was multiple conversations. So…
Kandas: Every time $18,000?
Larry: Yeah $18,000, $18,000. So I said okay I’ll go look at it because that’s a steal. It’s probably worth about, I’m guessing about $100,000, right?
Kandas: 15 acres, yeah $18,000?
Larry: Yeah something like that. So I get out there and they want to take me around to look the lot. I get my Lexus 4-wheel drive stuck in the mud, right? So…
Kandas: Not just stuck, marred up.
Larry: Marred up. Look on Facebook, you’ll see it okay? So, so here’s the thing. We’re sitting there talking, you know, just waiting on AAAto show up and so I asked the lady. I said “Is $18,000 the best you can do?” and she paused and she said “You know Larry, I’ll tell you what I’ll do. I’ll take $17,000 an acre.” I said… and then all of a sudden hit me, an acre? Whoa, whoa, wa wa what are you talking about? That’s well over $200,000 a month. Is she crazy? But I can’t just say, “Forget it. I’m out of here.” Because I can’t go anywhere. My car is marred up in the mud, a foot deep and literally what should have been a 30- or 45-minute meeting, turned out to be 4 hours. I didn’t get home until 8 o’clock last night because it took me another hour to stop by the car wash and wash off all the mud out from under my car.
Kandas: Yes, because the mud he got stuck in is circulating on a blackjack mud. And that’s not easy mud to just one pull out of, but two get off of anything, out of clothes, out of your hair, off your car… It’s some, it’s some tough stuff.
Larry: Exactly. Exactly. Okay. So we are going to talk about step-by-step direct mail, right?
Kandas: This is part 2 of last week when we went through some different direct mail list. So, this is doing a setup of your direct, right?
Larry: Right. Right. Right. Somebody if you want to, you can create a message down below and write this down if you want to. With direct mail... Now direct mail is killer to get deals. We’re getting some phenomenal deals right now with direct mail, right Kandas?
Kandas: Right. Right.
Larry: Yeah. Yeah. So, number 1 with direct mail, the very first thing you have to do is establish your budget. Establish your budget. Whatever your budget is, I don’t care if it’s $500 a month, $1000 a month, $2 a month, whatever it is, okay? I tell people you should try your best to establish a minimum of $500 a month, okay?
Kandas: That’s actually inner partner agreement.
Larry: A minimum, a minimum of $500 a month, okay? Now, that’s the first thing you do, establish your budget. Jot that down. Second thing you want to do is who I’m going to mail? Now last week, we talked about all of the different types of list you could mail, right?
Kandas: Right. So you can go back to last week’s episode and kind of get an idea for certain list types to go into a certain list that you are looking at, that you are looking at buying in.
Larry: Exactly. So, establish your budget and then who you’re going to mail, like you’re going to mail probate, absentee owner, code violation, delinquent taxes, whatever.
Number 3, how are you going to mail? Are you going to mail postcard or are you going to mail a letter. We always mail postcards. It’s the cheapest and they don’t have to open it up, okay?
Kandas: Right. And plus you may get some… I don’t… Not strange look with some of this… what is that, just… because the post person is going to see it, anyone who works at the post office could flip it over and see it. They may take a picture of it and give you a call up for something. So it’s just like you get added people views on it if it’s not in some type of envelope.
Larry: Exactly. Okay so… So we’ve got budget, who are you going to mail, how are you going to mail, postcard or letter. Next is you’re going to buy your list. You could buy it or you could get it free. Now, there are many services out there and we talked about them last week like list source… Hey, mama Teresa… That was, that was the one-night stand that was just in here, right? Okay, so there’s list source, there’s the list of data, there’s a bunch of different sources for list, okay? Now, you can also mind your own list. You can either hire a VA or you can do it yourself.
Larry: You can look them up with the County or whatever it is you want to, okay? Next is so you’re going to buy your list or get it for free, mind it yourself. The next is what to mail? What kind of postcard or letter are you going to? And I will tell you this, we mail a different one every single month. And you know what’s funny is, we get different responses, don’t we?
Kandas: Mm-hmm.That’s true. We surely do.
Larry: We also get some people that maybe they called and like I had a lady just last month that I think I mentioned this on one of the shows. She called and I was working with her for like… I would talk to her every week for like 6 weeks and then she called up and said “Yeah, got a postcard in the mail and I was calling about it.” I said “Nancy, this is Larry. We’ve been talking every week. It’s my postcard.” Right?
Larry: And she didn’t know that. She didn’t know it was me but we actually did end up getting that deal under contract. That’s the snake house. Okay.
Kandas: Watch last week’s show for the reference on the snake house.
Larry: Oh yeah. Was it last week? We were outside. Okay. Cool.
Kandas: It was. Yeah. It was last week.
Larry: Alright. So, we’ve got what to mail, specific postcard and in our partners, we have a whole list of everyone in the postcards that we use and samples of it, so you can just send it to your mail provider, okay? Next is answering the calls, answering the calls.
Kandas: The postcards… I mean, I can’t speak for postcards that we haven’t used but people use them for a reason. I know the postcards that we used, made the phone ring like crazy. Now, we have gotten more targeted with the people that we want to call on this last… I would say two postcards versus the first two that we sent out.
Larry: Right. Right.
Kandas: Because we’re on our fourth, we’re on our fourth month. No. Yeah, we’re going into our fourth, going into our fourth month.
Kandas: Of the drop… and so this will be our fourth different postcards that’s getting ready to fall the first week of November.
Larry: Right. And if you remember guys we used to do only nothing but HUD and nothing but MLS, right?
Larry: But there’s not near as many deals as there was, you know, as there used to be, right? So, we’re looking for alternate sources and we started doing direct mail 3 months ago.
Kandas: Right. We’re going. This next drop will be our first one of our fourth month.
Larry: Mm-hmm. Okay, so answer the calls. Are you going to answer live or are they going to a voicemail. Now, I realized if you have a full-time job, a J-O-B, then you’re going to have to have somebody else answer them, so you can have PATLive answer them, something like PATLive or answering service or hire a VA or you can just have them all go to a voicemail, right? Now, we have them go to… They go to Kandas. If she doesn’t answer the phone, it goes to PATLive. It used to go to her and me vice versa, right? Round robin and then it would go to PATLive but now it’s just Kandas because all I’m talking to are the ones that have been qualified.
Kandas: Second chance.
Kandas: Yeah. It’s like ultimately Larry’s position has moved into instead of helping me handle the initial influx of calls, he’s only talking to either the ones that are qualified that I couldn’t get a deal done with, right? Just to check behind me and make sure that nothing else could be done or something like that, qualified ones that I can’t get back to.
Larry: But I’m still calling people as well as far as if they’ve already called in, Kandas has qualified them, I’m still talking to them but she is also doing acquisitions as well, at the same time.
Alright, so answering calls, live or voicemail. Next thing, step number 7 is close the deal over the phone or go on appointments and we do all of ours over the phone, that’s my phone right?
Kandas: 9 out of 10.
Kandas: I would say. Every once in a while, you get somebody that calls from direct mail especially if they’re not… depending on what County you are mailing to, if they’re not used to getting postcards, typically they’re older for that avatar, is not accustomed to doing things over the phone. They want to look somebody in the eye. We had a guy called in just last week and said, you know, “I’m interested in selling these properties but I want to look the man in the face. I’m going to take them to him, let him see and I want to do a deal right there if we are able to work together. I don’t do the whole phone thing.” So then you just meet people where they are, you know, if you can. If you have somebody in the area that can do it, then that’s fine. If… But if that’s not your motto, you could pass on it.
Larry: That’s true. That’s true. You don’t have to do it. You could refer it to somebody that is in the local area if you’re doing virtual investing, don’t really matter whatever you want to do. I actually keep a little yellow folder on my desk that says, and I print those out and they say, “Go look.” So, if I happen to be in a certain area, I could flip through that little folder, right? And look and see, okay, I’ve got 3 people here. I need to be within Shelby or in Clover or whatever, right?
Larry: So after you close the deal over the phone or appointments is re-mail monthly. You’ve got to re-mail monthly. That’s very, very, very important. You got to re-mail every single month, one time a month.
Kandas: Right. You get calls and the way that we do it is we mail once a month but at different Counties every week. So the first week, we will have 2 Counties, second week we will have 3 Counties, third week we will have 2 Counties, fourth week we will have 2 Counties. So… or 3 Counties, 2 or 3 Counties each week.
Larry: And then mixed it up because I think we mailed 7 different Counties.
Kandas: I think you’re right. Yes, 7 different Counties. Each one, each County gets one postcard a month. That way, you stay in front of them, somebody that was not interested in selling with your first postcard, maybe interested in selling on your third postcard, once they see something come from you. That is a little bit of a drawback, I think with not sending the same thing every month is because you start to get branded if you send the same one every month, but there are pros and cons of each way. You just got to figure out which way works better for you.
Larry: Sure, and what Kandas…
Kandas: We like to mix it up.
Larry: Yeah. What Kandas means is they’re branded like if you’re, maybe you’re a HomeVestors Franchise or maybe you have a company name like whatever it is, XYZ buys houses or whatever and you brand that, and then there is the generic postcards that just say I buy houses or we buy houses or sell your house fast or whatever. So, we always use the generic ones, right? But also on the postcard, it says “I’m a local investor in…”, whatever the city is where that property is, like if I’m buying house at Spindale. It’s going to say if we’re mailing the postcard, I don’t care if we’re mailing it to Boston, Massachusetts. Yeah, but the property is in Spindale, North Carolina. It’s going to say, “I’m a local investor in Spindale, North Carolina and I’m interested in making you a cash offer on your house.” Right?
Larry: So, that’s the way we do that.
Kandas: Little bit deeper explanation on that. Yeah.
Larry: Yeah. So, re-mail monthly and then you also want to have what’s called followup campaigns.
Kandas: They can also be called nurture campaigns.
Larry: Nurture or followup campaigns because, listen, you’re not going to get everybody on the first phone call. There’s no way you’re going to get everybody the first go-round. You’ve got to put them in a nurture campaign to follow up with them monthly and there’s 3 different ways you want to do that. You want to follow up by email, by SMS/text message and RV or ringless voicemail, okay? Or just have somebody on Mojo or Vulcan 7 calling them every single month, very important. In fact, we’ve got…
Kandas: Until they tell you to stop.
Larry: Yeah. Yeah. And, and, and we do take the remove me off the list, right?
Kandas: Right, with every mailing.
Larry: The, the DNC, do not call. And the 10th and final thing is if you’re going to do direct mail, it’s extremely important that you commit to a minimum of 90 days, a minimum of 90 days.
Kandas: Yeah. It’s going to see… It’s going to take you that long to start seeing, not traction, because you’ll get calls off your first postcard or you should get calls off your first postcard, but depending on the Counties that you’re mailing to, the type of avatar that you’re mailing to, the list that you’re mailing to, it’s going to take a little bit of time for you to start seeing, is it a recoupof the money. Is that the best word to use?
Larry: We’ll just say results.
Larry: You know, it might be 60 days until you get your first deal. You never… Depending on your budget.
Larry: Right? Depending on your budget. I mean literally, I’ve taken calls and within 15 minutes, I had a deal under contract over the phone.
Kandas: That happens frequently.
Larry: And then we send somebody out.
Kandas: That happens more frequently than not I would say, but depending on the deal. It’s how you’re going to sell it, if you’re going to assign it, so your end-game can also play a big role in your timeframe with how quickly you’re going to be able to see results or not.
Larry: Right. And we’re getting a lot of… I like the cheaper houses for two reasons. Number 1, there’s a lot more people running around with $30, $40, $50,000 than there is with $150,000. Right?
Larry: The other thing is a lot of times we’ll send out a postcard about one property and the person will say, “I don’t just have this one. I have six properties I want to sell or 8 properties, or I have 3 properties or whatever.” So we… A lot of times, we get multiple deals. We mentioned this last week, I think.
Kandas: I think we mentioned it a few different ways, just the residual effects of sending out one postcard but with the type of list, especially with absentee on our list, if they can have multiple properties, most of them do, a lot of them get them inherited, but some of them are just investors that have had a portfolio of properties for years and years and years, and they want to liquidate or whatever the case maybe.
Kandas: But a lot of our, a lot of our sellers have more than one.
Larry: That’s true.
Kandas: Or they come up with more than one somehow. We’ll start out with one in all of a sudden. “Oh I got this house over here now too.”
Larry: And a lot of people are just testing you because they’ll say, “Let’s see how it goes with this one and let’s see how it goes with this one and then I’ve got some other properties if this goes well.”
Larry: Yeah. That’s good. Yeah, you’re right Manny. You’ve got to have a budget. It’s a business. It’s a business and you’ve got to have a budget for your direct mail campaigns, right? So guys, share this video. Then we’ll have one-on-one, you and I will sit down and we’ll spend 30 or 45 minutes over the phone at least and maybe more.
Kandas: Y’all better take advantage of this because I don’t see this is happening again. I didn’t know it was going to happen today and…
Larry: Well, we’ve never really even done it ever.
Kandas: Right. That’s what I’m saying because I am kind of the gatekeeper for his time and what he focuses is attention on the things like that. He didn’t run this by his integrator which is me before he decided to make this offer. Something that you want to hop on and of any of the BRAG episodes that you share is should be this one.
Larry: Awesome. Awesome. Thank you. And, last but not the least, if you want to get some more information and apply to work with us personally, one-on-one, partner with us in your own local market. We’ll help you get your direct mail up and running. We’ll help you get your campaigns. We’ll show you what to do and exactly how to do it. Why you’re looking at me weird like that?
Kandas: I’m not. I’m looking at… I’m actually looking at our record focus.
Larry: You’re like backing up, looking over at me like…
Kandas: I’m not looking over at you.
Larry: It’s kind of weird. I’m not looking at you.
Kandas: Stop being weird.
Larry: Alright. So anyway, go to larrygoins.com/apply, larrygoins.com/apply. Don’t forget to get your Investors Kit, 877-LARRY-GO or text the word BRAG to 803-897-6063. Now next Wednesday, we’re going to be in here teaching and training with partners, with partners, getting their system up at… No, it’s not training, okay, it’s implementation, it’s application.
Larry: So we are going to be in here, so we might just broadcast live from here again next week with all of the partners in here.
Kandas: Yeah, we will play that by ear, see how loud it is. If you guys would be able to hear us, if we would be able to get through the topic without too much of being a distraction to them while they’re working on getting stuff set up.
Kandas: We will have to play that by ear because we will have students in here. But, we will do what we can to get an episode on next week.
Larry: Awesome, and thank you guys for watching. We really, really appreciate it. Thanks so much and be sure to share the video and we will see you next week, alright.
Kandas: Bye guys!