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The Power Of Follow Up

SHOW SUMMARY:

This episode is extra special, not only because it's partner program week but also because it's Kandas' birthday. In today’s show, we talked about the importance of follow up, several ways to do a follow up, and the different apps that can help you with your follow up.

SHOW HIGHLIGHTS:

  • Difference between busy and productive
  • Updates from the team
  • Share Sponsor Winner
  • Deals of the Week
  • Following up on prospects
  • Some apps we use
  • Ways to put in a follow up sequence:
  • - Email - Text - RVM (Ringless Voicemail)

QUOTE:

  • “Wholesale is all about making your money on the bat.”

RESOURCES AND LINKS FROM THIS SHOW:

SHOW TRANSCRIPT:

Larry: How are you doin’? Welcome to the BRAG show live from Lake Wylie, South Carolina.

Kandas: All about using real estate to be rich and generous. We have screens all over the place right now. It’s freaking me out a little bit.

Larry: We do. Look right here. Can you see that?

Kandas: There is you.

Larry: That’s because this is partner program week. We have students in the office right now.

Kandas: We do.

Larry: And they are in the room right behind us and they are working their business. They are getting their marketing going. They are setting up their marketing. They are setting up all their systems and processes, so when they get home, the phone is gonna start ringing next week.

We could see a few people out there working, but those are our partners, right? So, yeah there you have it. So share, share, share. That is Manny would say. Share, share, share.

Kandas: Hey, Dave. Hey, mom.

Larry: Look Teresa is there. Dave Lee is there from St. Louis. What’s happening? Guess what today is? Today is a very special day.

Kandas: All day.

Larry: Today is Kandas’ birthday. Give Kandas a big shoutout. Happy birthday, Kandas.

Kandas: I made it another year.

Larry: One more.

Kandas: One more.

Larry: Look there’s my daughter. Hey, Linda. How are you? Aunt Kandas. Yup, today is Kandas’ birthday. She is 37 and holding.

Kandas: That’s right. I don’t wanna hold. Angel said something about it this morning and I forget how he said it. I was like, well, the only alternative is to not have any more birthdays and I don’t want to be, so I’ll take each year. I’ll take them.

Larry: That is true. So it’s good. It’s good. So, we’ve been very busy. So, please share this video guys.

Kandas: I don’t wanna use the busy. I think that we’ve been very productive.

Larry: Exasperated. That’s the word I was talking about.

Kandas: It is tiring, but there is a difference between busy and productive. And I really feel like since we have pounding on the focus of what we wanted to do with the real estate side and with the education side that we’ve been a lot more productive with our time. I mean looking back, it seems like we used to be just busy.

Larry: We have been very productive. I haven’t been able to get on the phone this week, Monday, Tuesday or today and you guys have been setting about 10 leads a day for me.

Kandas: That’s right.

Larry: To call, so…

Kandas: We have been busy. We’ve got…

Larry: The phone is ringing off the hook, it’s ringing now.

Kandas: Mike is new with us. He is about 5 days old, no, he is 5 days old now and then Marty is…

Larry: 5 days old with us.

Kandas: With us, yeah.

Larry: He already has 2 deals though.

Kandas: He does. Marty submitted two leads yesterday before she left. She was here late getting those in, so I feel like we are getting some really traction with the new people we’ve got on the team and another mailer will drop tomorrow.

Larry: There you go.

Kandas: So, all over again.

Larry: That’s true. We mail about 25,000 pieces a month.

Kandas: That’s right.

Larry: So we have a lot of direct mail going out.

Kandas: So, we will get to that in a second too on how to make sure that you are getting your money’s worth out of the mailer or whatever type of marketing you are doing with the power of follow up, but if you don’t have an Investors Kit, make sure you reach out and give 877-LARRY-GO a call. Z will pick that phone up and get you the Investors Kit. It’s got the Real Estate Day Trading book digital version, HUD Homes Half Off digital version, some training webinars and links and things like that in there. It will get you up and started. It is definitely a good way to start crawling toward your real estate investing if that’s what you wanna do. If you are ready to run already, you know, that you want to work with somebody to get you to the next level then you guys go ahead and go to LarryGoins.com/Apply. The guys will get you setup there and on your way to be in the office here.

Larry: Yeah, you can apply to work with us and you come in here spend a few days and we get your business set up and running and make the phone starts ringing, so when you get at home, you start taking calls and then I help you with those, help you through every bit of the process, right?

Kandas: That’s right. Not doing it for you. Here to help you and advice along the way.

Larry: With you. With you. I don’t throw you in the pool. I get down in the water with you and help you learn how to swim. That’s what Ron says, right?

Kandas: It is what he says.

Larry: Yeah. So we also need to talk about our last week’s share winning.

Kandas: Who’s last week’s share winner? I can’t read this over here. I may have to look at the screen over here. I will have to.

Larry: Valley of the Sun Venture Properties shared our video last week and guys it’s a great way to promote your business too because if you share, people will see it on your profile and then they know you are in real estate.

Kandas: It’s education. You’re sharing an education.

Larry: Exactly. Exactly. So, Valley of the Sun, call Kandas.

Kandas: Don’t call me.

Larry: Or email.

Kandas: Send an email.

Larry: I’m sorry. Let me let Kandas tell you what to do.

Kandas: Don’t call me, that sounded mean.

Larry: Don’t call me please.

Kandas: That sounded so mean. I’m sorry, but don’t. Don’t call me. Send an email to customerservice@larrygoins.com. Let me know that you are the share winner and I’ll get you set up and get that Real Estate Day Trading course sent out to you.

Larry: That’s awesome. That’s awesome. Lindy says happy birthday, she loves you.

Kandas: I saw it. Thank you and love you.

Larry: Tommy Payton says “hello all.”

Kandas: Hello.

Larry: What’s up? How you doin’?

Kandas: Thank you. Who is that?

Larry: What?

Kandas: Dedon Manuel.

Larry: Yup. Happy birthday.

Kandas: Thank you very much.

Larry: Enjoy this day Kandas.

Kandas: Thank you. Thank you.

Larry: So, let’s talk about the deal of the week.

Kandas: Manny, what are you doing? Why are you…

Larry: He is sharing our properties to people.

Kandas: Is it our property or his property?

Larry: It’s our property.

Kandas: All right. Okay. You’re fine.

Larry: He is telling people to buy our property. He said don’t let this one go by.

Kandas: You’re fine. I was like what is he doing?

Larry: So, Manny we can already promote it to our people. Why do you promote it to your people. I’m just messing with you man.

Kandas: He’s gonna share the video though. He will share the video like he does every week.

Larry: Eighteen times.

Kandas: Yes. Like he does every week and then his people will see it.

Larry: I love it. I love it. That’s awesome.

Kandas: We love picking on you. You do make it easy.

Larry: He does make it easy. Kourtney is here too.

Kandas: Don’t tell us to simmer down. You can’t tell me to simmer down.

Larry: Simmer down. Simmer down.

Kandas: On my birthday.

Larry: Yeah, Kourtney, it’s her birthday today. You are just joining us.

Kandas: I didn’t get a text from you. What happened? You leave and you forget all about me.

Larry: What’s up with that? So, I want to talk about the deal of the week. You guys know that I haven’t even been able to work on any deals yet. And usually when we do a deal of the week, it’s a deal in the last couple of days, right? So, the deal of the week this week is a deal that I pass on.

Kandas: Oh, interesting.

Larry: The reason that I selected this…

Kandas: I have my own deal of the week.

Larry: This is the one ‘cause I haven’t bought a house yet this week.

Kandas: Can I do what we did last. We bought a house on Saturday.

Larry: Oh, I forgot about that.

Kandas: So, you do your deal. I’ll do my deal of the week ‘cause you forgot about mine.

Larry: Let me do mine first. So, this was a deal that I was buying for like $6,000 I believe it was and brick house and I knew it had a tree that fell on it and a couple of the limbs went through the roof, I knew that.

Kandas: Let me tell you, when he is on the phone with this seller, this is how Larry negotiate. So, he is talking about the tree… exactly how big is the hole that the tree made in the house and every question that he is asking about this tree, oh my god, it was going down 2,000 then another 2,000 all that was for.

Larry: She told me after I got off the phone, she is out there talking to him saying the price is gonna be 60, nope, now it’s gonna be 12, nope, now it’s gonna be 8, now it’s gonna be 6.

Kandas: We are playing games. We play a game with the negotiation with the way we can hear him on the phone with my being new I was like watch this. So, that’s the game that we played.

Larry: She nailed it though, did you?

Kandas: I did.

Larry: She did. But even still Angel went out to look at the house and not only had the tree falling through the roof about a year ago, right?

Kandas: Sometimes they leave that out.

Larry: There was dead animals in the house, the ceiling had fallen in, and I told Angel… Angel showed me the pictures. I’m like man is that gas grill work over there why didn’t you bring that back with you?

Kandas: He is not gonna need it. Nobody is gonna go get it.

Larry: It was one of those Coleman camping gas grill fold out. I’m like that thing looks like it’s in good shape. It was best thing in the house.

Kandas: He is not about picking stuff.

Larry: Only if we buy it though.

Kandas: Yeah, if we buy it. He is not about picking stuff out of the house.

Larry: That’s right.

Kandas: I can’t say anything because I claim stuff too.

Larry: I also said my daughter and her boyfriend out to get stuff to sell it. They sell stuff. Sometimes they keep it. Sometimes I keep stuffs.

Kandas: Sometimes mommy get stuff.

Larry: Right. Sometimes your mom gets stuff. Are there any cars over there?

Kandas: We have a lot of fun with our properties. So, what else happens with the idea when you got…

Larry: Well ultimately what happened to it, you know, I need to call the guy back, but this is one where I need to tell the guy he is gonna pay basement, right? If you want to get rid of this house, you give me $1,000 and I’ll pick it up.

Kandas: I mean, somebody is gonna have to demolish it. We are not gonna have to rush it.

Larry: They don’t think that will happen. I’ve had people pay me as much as $3,000 or $4,000 or $5,000 to buy the house.

Kandas: To take it, yeah. I mean when you look at what you got to do to clear the land and everything like that I mean it’s what its gonna take and you can’t go in the hole doing that hoping to get a profit on the backend.

Larry: That’s true.

Kandas: Wholesale is all about making your money on the back, right?

Larry: Right.

Kandas: So, I’ve heard that somewhere before.

Larry: So now tell them about your deal which you got signed Sunday. You actually did it on Sunday.

Kandas: I did it. So I’ve been working with this seller since October of last year and sometimes that’s what it takes you know just to touch in there. They said they’re gonna commit, they don’t commit. Then you negotiate with them so we started working with her in October of last year.

Larry: What? That long ago?

Kandas: Yeah. We finally got her like committed to talk to us in January and December. We talked to her in December. She had gone on vacation.

Larry: Where did this lead come from?

Kandas: It was a bird dog lead.

Larry: A bird dog lead.

Kandas: Mm-hmm. So, we talked to her in December, January we get like a deal, right?

Larry: Right.

Kandas: And then can’t get a contract back. Can’t get it back. Can’t get it back. Can’t get it back. Finally, I called her ‘cause what happens is when Larry makes the negotiation, we finalized the price on the buyer, it goes to closing and Lorraine gets the contract ready and starts doing that. So, the acquisition manager typically at that point is out and it moves to closing and to sale for Daniel. But we couldn’t get the signed contract back on this property. So, I was like, I’m gonna call her. So, I started calling her, I couldn’t get her on the phone. We had an appointment for Angel to go out. She stood him up, going out to look at the property to get the pictures. So I texted her. She wouldn’t answer my call so I texted call. She started texting back. And that’s how I was able to arrange. I told her I would come out ‘cause she had been working with me for a while, so I told her that I would come out. Don’t worry about Angel that I would come up, I would get the contract and we need to get into the property so start the process and I went out on Sunday, I got the contract signed, I got the pictures, I ended up showing it to a potential buyer Sunday afternoon like Sunday evening then Daniel is out today and has a contract on it. So it’s gone.

Larry: Are you serious?

Kandas: Yeah.

Larry: I don’t even know that.

Kandas: Yep.

Larry: Are you serious?

Kandas: Yeah.

Larry: That’s a $15,000 deal?

Kandas: $19,000.

Larry: $19,000? Awesome. I love it. That’s great. So, we already got a contract on it?

Kandas: He is out. He was showing it to… I showed it Sunday afternoon, he had some buyer to pick it up until today, so my buyer passed and he is out there with his and they want it.

Larry: That’s awesome.

Kandas: Done deal.

Larry: That’s awesome. See, I didn’t even know.

Kandas: You’ve been a little busy.

Larry: That’s great. I love it. Kenny Culver says, “happy birthday.”

Kandas: Thank you Kenny.

Larry: That’s great. So, I want to show this comment right here. Dave Lee said he bought a list and he wants to know how to append that list to cold calling. Append means is send your direct mail list to a service to get the phone numbers, right? And a company that we use is called NeedToSkip.com and they will append that list for you. So, Dave I hope that helps and also how do you create a custom audience? You upload your list to Facebook and create a custom audience through Facebook.

Kandas: That’s what we do.

Larry: It’s pretty simple. And all that means is you’re sending… your ad will only show to the people who you uploaded the list. It will match up a Facebook profile with your list. That’s it. That’s all that means, right? Good. So, did I cut you off on your story or was that it?

Kandas: No, I was done.

Larry: Good. I just wanna make sure. All right, so what I wanted to talk about today on the show is the power of follow up. And you know your deal of the week is a prime example of that.

Kandas: You got to stay on it.

Larry: That was I mean we started working with her in October, we finally got a contract this past Sunday.

Kandas: Well, we got the contract…

Larry: We got her to agree.

Kandas: Yeah. Well, we got her to agree in January and then I finally got her to sign and sometimes that’s what it takes. Typically, I don’t go out. We have minions for that job to go out.

Larry: Shhh, don’t call them that.

Kandas: They know they are the minion, that’s what they are. It’s an endearing term but they know that’s going on.

Larry: They don’t look like they like it right now.

Kandas: They don’t even hear us.

Larry: Okay.

Kandas: So, anyway we have people for that. There they are. Are all three of them in there?

Larry: You can only see Mike and Marty.

Kandas: Angel is not showing up. Anyway, acquisition managers go out and they get their contracts on it, they put out signs, they take the pictures, they do all that stuff. I am the acquisition manager on this property, right? But I don’t typically go out to do those things. We have people for that.

Larry: Minions available.

Kandas: Lovingly.

Larry: That’s good.

Kandas: So, yes. But I did go out and sometimes that’s what it takes. You’ve had to go out to a few that will only look you in the eye, you know, the signing of contract and sometimes that is what it takes. I ultimately, with where we are investing right now that is a good thing that we are in the counties that we are in so we had that option to do it but they will come a time when we are back investing, we’ve got some deals right now, some leads came to you form Alabama. We won’t be able to do that with that guy.

Larry: Right.

Kandas: Yeah. Can’t always have them like that but follow up, if I hadn’t kept checking on her, kept checking on her, kept checking on her, we could loss that deal and that’s the $19,000 spread.

Larry: It’s already been sold.

Kandas: Yeah.

Larry: I mean today is Wednesday, you got it on Sunday. Monday, Tuesday, Wednesday, we sold it in 3 days.

Kandas: Right.

Larry: So, we could close anytime in the next two weeks ‘cause she will have all of her stuff out.

Kandas: We are waiting on title work.

Larry: Wow! Title work is gonna hold us up, can you believe that? That’s awesome. That’s great. That’s good. That’s awesome. So, I will talk about follow up. Let’s talk first about follow up on prospects, okay. Like when we get someone to accept the contract, there’s basically 4 to 5 different ways you can do it, okay. You can go meet them in person and you could mail them a contract with the return envelope, you could send it to him digitally like DocuSign or whatever, have digitally signed it, you can email it to them, have them print it and then scan it and email it back or you can send a mobile notary. That’s five different ways.

Kandas: I’m gonna tell you that the mobile notary is well worth the money.

Larry: 75 bucks.

Kandas: And I will not ever want us to do anything unless it’s one of us going out to get a contract signed as an acquisition manager, I would not ever wanted mail them again, scan them again, email me and none of that mess because it leaves too much room for them to back track for them to not sign. If you got a body there in person it’s a lot harder to get rid of and for them to say no to than when you email it and it could get hang up in cyberspace or whatever other excuse they want to try to give you.

Larry: That’s exactly right. And besides you don’t wanna give them enough time to let me talk to my daughter, let me talk to my son, my grandparents, my aunt, let me call a realtor friend. You don’t wanna deal with any of that. That’s what happen on her deal of the week, right?

Kandas: Right.

Larry: She said just something was going on either she was out of town or something. I can’t remember the details, but for some reason I mailed it to her and it never came back.

Kandas: That’s right.

Larry: I lost another deal last week that I mailed it to the lady and by the time she got to it her husband threw it away and already sold one of the two houses that I was buying, right? So whatever you need to do get it to them as soon as possible. DocuSign or RightSignature or mobile notary, we use NSS notary for that, nssnotary.com.

Kandas: They are great to work with too.

Larry: They are for 75 bucks. They’ll go out and get your stuff signed. It’s 125 total, if you want them to sign it and take pictures of the house.

Kandas: That’s right.

Larry: Somebody was asking a question a second ago, what company we use for live answer. When we have a company for live answer, we use PATLive.

Kandas: Right.

Larry: But typically our guys are answering 9-5 and after that it goes to a voicemail. If we have a live answer it’s PATLive.

Kandas: Right and mainly we were using PATLive before when it was like two of us out here, right? And we couldn’t keep up with the volume. Now, we’ve down our mailer and we’ve added more staff, so we are on 12 to 24 hour turn for call backs for anybody that leaves a message. If they leave it outside of business hour, right? If they leave it during… if they call and they can’t get one of the four of us that are on the round-robin on the phone then it’s immediately that they get a call back as soon as somebody is off, I mean I’m managing the leads as they come in so they atomically get assigned if somebody doesn’t answer it live.

Larry: Right.

Kandas: So they are called back within an hour if we are here in the office. But if it’s after hours then we are working on a 12, probably a 12- to 14-hour turn instead of 12 to 24, as soon as we come back in.

Larry: And we are ready to serve, ramp it up to in the next 90 days.

Kandas: Yeah, I’m ready. We were gonna talk about that probably tomorrow or Friday but yup I think that we are on track to be able to do that sooner rather than later.

Larry: Yeah, I think so too. Let me answer Charles’ question before we get back to follow up. Do we have to be a member of our partner program to submit deals to us before you submit an offer to the seller. And the short answer is yes. Unfortunately, I don’t have a lot of time to be able to do that for everybody Charles. I’m really sorry. But with our partners…

Kandas: They take priority.

Larry: They do take priority and we are working on them on a one-on-one basis. We are partnering on deals with them. Our part goes to charity and they invested money and time to come here at the office and work with us to be able to partner with us and get their business set up and get the phone ring and off the hook and so not only have I’ll look at their deals, but I’ll actually get on the phone with the seller. It’s not a regular thing that I get on the phone with all their sellers but if I need to I will get on the phone with them, with their seller and help them and I’ll also have them record all their calls…

Kandas: I was getting ready to say that.

Larry: Through the system that we do that. So, if they don’t get a deal in the first few weeks then they need to send me their calls so I can critique it.

Kandas: Yep.

Larry: To know what’s going on.

Kandas: Yup.

Larry: Plus they also have my calls that they could listen to in advance and hear what I say on the phone and what Kandas says and stuff like that.

Kandas: Yup. They have set of calls which is more or less what acquisition person would do as a set closed type call structure that we work out here right now with Junior Hammers. So there are examples of set calls that partners have access to and there’s access to closed calls too.

Larry: Right.

Kandas: And even some cold closes and follow up closes.

Larry: Now with the follow up, if I don’t get a contract in like two or three weeks or whatever, if we just cannot get to an agreement, right? What I’m gonna do is I’m gonna put them in a follow up sequence. Now, there’s three different ways you can do this, email, text, and RVM (ringless voicemail). For email, we use Mailchimp, okay. For text, we use something like TexCom, RVM, VoiceShot, something like that. That makes sense?

Kandas: Yes.

Larry: Good.

Kandas: Now, there’s Angel.

Larry: Is he behind us waving?

Kandas: He is over there, yeah.

Larry: Oh, what is he doing? He is being an angel. Not being an angel but being Angel.

Kandas: Not being an angel and Angel are very different things.

Larry: All right. That’s funny. But he is a good kid. He is a good kid.

Kandas: He is all right.

Larry: He called me last night at 7 o’clock he was out of the house.

Kandas: In my mind we are both there.

Larry: Yup.

Kandas: That was my sleep.

Larry: He was trading mind. But anyway, you need to follow up with these people. If you don’t get a deal and if they say, well I’m just not gonna sell it right now or I’m gonna try to sell it myself or I can’t take that or I’m gonna do something else or I don’t have to sell it, you put them up in the follow up sequence. Put them in a follow up sequence, right? In our system that is Podio and once a month, you need to RVM them, ringless voicemail, right? VoiceShot, some other services are out there. You can just Google RVM or ringless voicemail and you also need to text them every month and you also need to send them an email every month. So, every time you get a seller lead, you wanna ask them what’s your email address, what’s your cellphone number, can you get text from your cellphone. So, you make sure that you are able to follow up with these people, right?

Kandas: As much as you can. Now, some of our sellers depends on the counties that you are mailing to, the areas that you are mailing to, a lot of our sellers don’t do emails. So, us being able to email them anything is automatically out of the question. Some of them do text, but is very rare. So, the ringless voicemail to them is typically the best option that we kinda discovered just based on how they use technology but depending on your market, depending on your avatar, right? The demographic of the person that you are marketing to, you may find something different but all three of them are really good ways to keep in touch.

Larry: There you go. That’s it. So, if you would like to partner with us, please go to LarryGoins.com/apply and please share the video. We would greatly appreciate that for a Real Estate Day Trading and Jumpstart, right? We will mail it to you if you win it. We will mail it to you. It’s not like we are getting hundreds of shares so your chance of winning are 5% to 10%, maybe, you know.

Kandas: Yes Manny we are aware there is a party in the background. It’s our partners back there. Apparently, they are not as on task as we need them to be setting up their business right now, so we will have to get them straighten out here in seconds.

Larry: Yeah, we will. So guys we really, really appreciate you watching. Thanks a lot. I hope you got out of this. Tommy, can anyone come to your workshop on the 20th?

Kandas: Yes. It’s the 21st.

Larry: It’s the 21st.

Kandas: 22nd and 23rd. Yes. February 21, 22, and 23 in the Charlotte area. That’s a 3-day. Now that is an education of it. This is an implementation or application of it but the event that you are talking about February 21, 22, 23 that is education. You can go to larrygoinslive.com and register for that event or you can call the office at 888-212-6567.

Larry: Was that correct?

Kandas: That’s fine. Yeah, that’s fine. And get register. One of the guys can help you get registered just depending on how you are most comfortable. It’s a $97.

Larry: Look Tommy will be there.

Kandas: Perfect.

Larry: She is asking for a friend. Tommy you have a friend? Just kidding.

Kandas: I’m actually glad you brought it up because I forgot all about it and I know that we have about 4 weeks left before that event and we are about half full now. I capped our events at 100 people to make sure we’ve got enough in the room to network with people, but I like to keep it small enough to where everybody feels like they are able to get their questions and certainly they are not being hurting around. I don’t like that feeling so 100 people, I know we are about half full, we got about 4 weeks left, larrygoinslive.com, $97 seat registration but you can get that back after the event once you attend.

Larry: Awesome.

Kandas: Or you can get the slides and I keep it.

Larry: Awesome. Awesome. That’s great. I guess she is my friend. She kinda has to be, right? That’s funny. I love it. So, Manny thank you very much. I really appreciate your kind words. Thank you guys so much for watching. We really, really appreciate it. We hope we are able to help you. Give you some good tips and if you like what you are seeing, what you are watching, please share, share, share, share. Okay. Thanks a lot everybody we appreciate it.

Kandas: Bye.

Larry: See you later.