All Forum Posts by: Gustavo Munoz Castro

@Matt McCurdy the one-on-one coaching was like a college education: reading assignment, homework, write summary to coach. The "coach" was a trained call center person going through a script. It covered every strategy known to investors from nuts to soup at least the theory. Mostly irrelevant for what I wanted to do, but you can make the case for a solid base education. 

It is not easy to provide good coaching, I have tried. 

One of our local Milwaukee REIA groups offers a-la-carte coaching. Simple concept: instead of teaching a class you ask any questions that are relevant to you and get coaching on this specific issue, we even come out to your project. Select a coach that has the specific skillset you want and then pick their brain. I know every coach on the program, they are all very experienced local investors and a legitimate expert in their field and they genuinly want to help: from IRA investing to wholesaling, to flips etc. I liked it and agreed to help covering the BRRRR strategy, help people analyze a deal, walk a job, help them deal with construction issues etc.

I think the approach is genius, the concept offers a huge value, because you can read a book on BRRRR and understand the theory, but still struggle with implementation. It worked really well, but I would have expected a lot more people take advantage of it.

What we found was that people still wanted to spend $10,000 or $35,000 on a course that promised them to become an top investor rather than paying an expert for a hour of their time to help them with specific issues.

The psychology of this is facinating. People want to be guru coached! But they want to spend the money in exchnage for the promise that they will become someone they are not (yet). 

Motivation always comes from inside, you can't make people feel motivated.

 I am not doing any mailers but I am cold calling (Just not as aggressively as I should). My biggest issue right now is capital for purchases and not finding communities. I guess I could prospect harder for seller financing deals but in my mind I would hate to be in a spot where I can't move on something right away which is where I am now.

3/5/2024

I've been cold calling for the past 2 weeks... slowly. I am feeling a little discouraged by it. I thought I was calling a lot but it turns out I've only probably called like. 50 people lol... I know the conversion rate is usually 2-3%, which means I would have to call 100 people to maybe get 2 listings. I start to feel like my list's pain point is not strong enough. I started to re-think about the different strategies for the past few days, and tried to convince myself to finish calling my list before switching. But as I'm literally staring at my list for the past 30mins, and only made 1 phone call, I'm starting to feel like maybe not???

Damn, this is hard :) 

@Gustavo Munoz Castro using EasyButton Leads to do the cold calling. It hasn't been great lately though, we are looking for another cold calling company to replace them.