All Forum Posts by: Edgar U.

For cold calling or any calling for that matter, I use the MIT study (see bottom of the page for source)

Here is a snap shot...

(I personally love to call to qualify on Sundays after 1 or 2 PM. Almost everybody picks up!)

(I personally call leads after 7PM for cash offers and almost always make contact)

THIS I FOLLOW TO THE BONE! If I am available and leads come I generally call within 5 minutes. Then I use a 3-1 or 3-2 Bulldog method for attempted contact. 3-1 method, is 3 calls in under 1 minute and voicemail on the last if they still don't pick up. 3-2 method, is 3 calls in under 2 minutes using 2 different numbers and voicemail on the last attempt. 

I follow this article as an excellent point of reference. 

Source: http://www.leadresponsemanagement.org/lrm_study

For Buyer lead generation, signs, signs, and more signs. Below is just a quick snapshot of one of our months for the brokerage I work for (I had to omit some sources as they pertain to that particular brokerage). 

Couple of key points:

• The key is always follow-ups.
• Practice scripts and role playing daily or weekly
• Watch Wolf of Wall Street > especially the part where he goes into the penny stock for the first time and gets the sale. That's how good you have to get for converting your leads! Otherwise, lead generation will be expensive if those leads aren't converted. (CHECK OUT SCENE BELOW)
• The whole point of lead generation is to convert those leads to signed contracts or offers accepted on properties.

Track Performance!

I added some key metrics on the bottom of the sheet. We try to strive for above 50% showing up (as you can see the number weren't hit!) 

Also, this just pertains to our 'Other Sources' of leads. Meaning, that we don't just do the following. 

Never heard of 'em. If I were you I would do a quick search here in BP to see if any member has used them in the past.

I setup my LLC using rocketlawyer (no endoersment here), they offer free legal advice should you need one and when I did my LLC it took about 2 weeks or less to get everything. I got all my LLC documents from my state and my tax ID came in 2 days.

@Kevin Siedlecki hit the nail on this one with Josh and Brandon being your go to mentors. If you are looking for an investing niche (i.e) rehabbing, landlord, wholesaling, etc. I would follow some of the BP members that focus on those particular niches to get a more profound approach.

@Nat C. @Carlos RoviraDefinitely would be interested in something like this. When I went to the DREIA a while back they hosted in a hotel like venue. Keep in mind that it was sponsored and all. If you are looking for something a bit cheaper, then Dunkin Donuts has a conference room that you one could rent out for about $10 bucks an hour or something like that. 

Hello Iris,

One of the biggest issues I have when training our VA's is letting them know that I don't know how to convert unmotivated sellers to motivated. What I do know is trying to convert the motivated ones to appointments and then into signed contracts to closings!

Usually you can tell when they are motivated by following the signs below:

• They answer all your questions down to the bone. Even if you were to ask them if they are single and ready to mingle...just kidding. But you get my point.
• They ask you questions like "How long does closing take?" or "Do you pay for my closing costs."
• If you give them the offer and they don't give you a flat out no (which 90% of the sellers do). They just say "Hmm, let me think about it, or I have to speak to my husband." Get THAT APPOINTMENT! If you give them an offer and they answer you with a question like the one above GET THAT APPOINTMENT!
• You ask them a crucial question like "Mr Seller, why are you selling?" if they answer any of the following: Tired of dealing with tenants. I am an [insert age above 60] and don't want to deal with tenants or I'm thinking of getting rid of it. I live in [insert state/other part of town], and don't want to drive "X" amount to do the repairs because I hate driving cross town/state! 
• I am an looking to retire and looking to use this money for [insert bucket lists (it's usually traveling or buying an RV or doing something BP won't allow me to put, lol]

You can also spot unmotivated sellers by:

• They usually tell you that they have no reason to sell because I have [insert X amount of money in the bank or X amount of properties] but you sent me a letter on the mail and what the hell.
• I want 4 TIMES as much as the propeties is worth. I get this a lot. Especially for people whom were trying to sell during the peak of the market. They were getting ridiculous offers and now want the same thing if not more. I usually before going further bring them down from Pluto to Earth, kinda give them a reality check. 
• Even before you start qualifying them, they tell you what they want and tell you "If you don't give me X amount, I won't sell my property" 
• Last but not least, they give you no information because they are busy, you caught them at a bad time, or just plain dont' want to speak with you. When a person really wants to sell their house they will STOP WHATEVER THEY ARE DOING TO SPEAK WITH YOU!!

Sorry for the long article, but my point is when they aren't motivated MOVE ON, NEXT!

UPDATED: CORRECT PICTURE OF THE HOUSE