All Forum Posts by: Trevon Peracca

Trevon Peracca has started 72 posts and replied 230 times.

Originally posted by @Dev Horn:

With your hours, I don't think you have time to do real estate. You barely have time to eat and sleep.

In wholesaling, ALL you are doing is the relationship. You can try to outsource that, but you're outsourcing the one value that wholesalers provide and that is generating leads & doing deals and those things involve talking to people the moment they are interested in talking to you, going as quickly as possible to see their house, and getting it under contract ASAP. If you are not on top of all that, some other investor who is will get that deal.

Seriously, this is not an auto-pilot business. This is a people business. And you have to have time to communicate with them or maybe it's just not the right time for you to do this...

Thanks for your input. There is more to understand, but i have no intention on quitting. If i quit i have 100% chance at scoring NO DEALS. I'd rather call people back on lunch breaks, make offers over the phone, and have my buyers go look at the property once i have it under contract. I know its not as personable, and i wont get as many deals because of it, but id rather have not as many deals instead of no deals.

Thoughts?

0 Votes

Originally posted by @Cody Alexander:

@Thomas Fucci, i could not agree with @Justin Silverio more. Each mail piece appeals to certain people. Yellow letters absolutely have their target audience, but not everyone responds to them. That's why we promote cluster marketing so much. Commit yourself to at least six touches and use a different mail piece each time. Send a small text Postcard, Yellow Letter, Large Text Postcard, Professional Letter, Greeting Card, then ZipLetter.

This is great, I was actually planning this method on my next campaign.

0 Votes

Originally posted by @Jamie Nichols:

Yes, I do! We're always looking for ways we can increase our value in yellow letter marketing campaigns, lead scoring is something we could implement easily.

Great! I have also heard that you work with us by inputting information into programs like Podio to help us manage our leads. Is this true?

1 Vote

Originally posted by @Jamie Nichols:

That's an interesting point of view. As real estate investors considering the value of an answering service, would you find it useful if the answering service scored your leads according to parameters set by you? This way top leads classified as an "A", for example, are easier to identify and can take first precedence over the others.

What do you think?

I think it would this would be a valuable service. I am just trying to determine whether its necessary or not for my situation.

I take it you work for PATLive?

1 Vote

Originally posted by @Robert Laird:

Trevon,

These are all good questions.

First I would have you ask yourself what you are trying to obtain by "automating your business" as you put it. At the end of the day if you do end up paying for a service like PatLive are you really going to have the time to read through all the messages? If your as busy as you say and you can not pick up the phone in time. In addition, if it has become too hard for you to make all your call backs, a VA is not going to change that. They are just going to type out your messages and email them to you. You still have to make the call backs. You understand what I mean? Unless you find a VA that will make outbound calls for you and write offers, they will only take off work load in terms of inbound calls.

The only way I can recommend you "automate your wholesaling business" is to have a message on your answering machine that asks people to leave a message with their name, address of property they want to sell, phone number and best time to contact. Then anyone motivated enough will leave you messages and every night you check your messages and call people back for 30min - 1 hour. If you want to further automate your business, find someone to do this for you and pay them hourly. However, as you do this, your costs are going to go up, which is hard to front if you have not done a deal yet.

In regards to your mailing list, I would not scrap it just yet. There may be a field on there that indicates equity and if you can filter them out you will still have some addresses left. Just make sure to do that with your next list purchase. In the beginning it is important to check your lists and check them twice to make sure your marketing budget will go the longest yard. Even if it takes you 2 hours to manually filter out bad addresses/recipients, that is 2 hours of saved mailer money.

I would work up some figures and a budget. Show your significant other the hard numbers for the best case scenario and the worst case scenario. As long as your worst case scenario looks better than your financial life right now, I think she will go for it, because what is there to lose? You just have to make sure you are on the same page so no one gets surprised later on. I hope some of this will help you and good luck.

Thank you for your response Rob, I am just now seeing this, for whatever reason i did not get a reply notification. I will check to see if i am able to filter by equity on the excel spreadsheet i downloaded from ListSource.

As far as having them leave a message, I feel like it could work well, but I also feel always answering right away make can be better heres why:

If they had no idea something like this could be done to get their home sold quick, they may really like the idea and want to explore. Like most people, when doing research they are likely to look at quite a few options. By letting it go to voicemail I run the risk of them not leaving a message at all. Maybe they leave message and start researching, and during the time that i haven't called back they wander on to someone elses website.

If I have an answering service, I can lock in the attention of the "hot leads," by getting them started in the process by the service asking my list of questions. This will help filter out the bad leads, and allow me to have an active lead tracker with Podio. Once the prospect becomes involved in our process, i have a better chance at retaining there attention until i can call them back.

At that point, by the time i call them back, i should already have an ARV and MAO in mind and know whether or not they qualify for my services.

I could be COMPLETELY OFF. Please share your thoughts.

Thanks Rob!

Best Regards,

Trevon

2 Votes

Originally posted by @Michael Quarles:

what you send and how you procure it will make a huge difference on cost and strategy

Thank you for the input Michael! I guess that's what i am trying to figure out. What is the best strategy for $500-$700/ per month? My first mailer to absentee homeowners was a bust because the terrible mistake of not filtering by equity. I sent 1800 pieces and got about 20 calls, most of them were very-low equity or upside down in there mortgage.

I have listened to tons of podcasts (to include yours), and read quite a bit but while all of it is great knowledge and experiences shared, it also can be very opinionated. I have seen/heard investors be successful with polar-opposite strategies.

I'd happy to hear any beginner direct mail suggestions you might have.

Thanks Michael!

Best Regards,

Trevon

0 Votes

Originally posted by @Robert Laird:

I definitely agree with Michael, but would also add that it depends on how much time you have to put in. Because if you do 250 every week, it is going to take a lot more time and management to get each mailer out. Then when people call you back who want to be taken off the list you would have to take them off the 1,000 count list and the individual 250 lists. You might have more consistent calling through out the month if you do batches of 250, when compared to doing all 1,000 at once. You should really hone in on a strategy because when your only doing this many mailers every piece counts.

Referring to your mention about time management: Based only on the experience of my first mail out, it only took about 25 minutes to setup my mailer. With amount I work in my "day job" i want to be as time efficient as possible.

As far as managing deal flow, i felt like splitting the list and mailing weekly would make the call flow more "steady"...

My plan was to hit the same list with 5-7 mailings.

1st: Personalized Postcard

2nd: Handwritten Yellow Letters

3rd: Professional letter

4th: Personalized tear sheets

5th: Handwritten Yellow Letters

If i have to spend a little bit more money to make the process more "hands off" i am willing. Such as services offered by @Jerry Puckett or Clever Investor.

That brings me to post direct mail. As far as my lead management, I am looking to hire a call center such as PATLive to manage initial calls and screen "hot leads." Do you have any insight on this?

I am also planning to use Podio (or similar) to make my CRM and lead management systematic.

I am really willing to do whatever it takes to score my first deal. I know it will pay off and i can put that profit right back into my marketing budget. So if i need to fork out more money upfront, I will do as much as can.

Please enlighten me with your experiences.

Best Regards,

Trevon

1 Vote

Originally posted by @Ciprian L.:

@Shamim Toufighian You can buy a 2-4 unit with FHA , you can put 3.5% down. You don't need a big down payment to purchase a primary residence.

I agree. You should take your time and find a good 2-4 unit multifamily property on the MLS. That will be the best way to get the most bang for your buck. Make sure that the numbers work and read up on Brandon Turners new book on investing in multifamily properties. Also, network with the experienced landlords in the area to figure out common trends in your market and help you run your numbers more accurately.

Let me know if you have other questions!

3 Votes

Experienced Marketers,

Is it better to market to a list of 1000 people monthly or 250 people weekly?

-OR-

Buy 1000 people list, split into 4 and hit 250 people per week. This will ensure i each 250 is hit once per month. (If so, how is this different than just 1000 sent once per month????)

I am on a $500/ mo. budget, I looking to take action on a new strategy that will be most effective.

Please share your experiences.

0 Votes

Hey BP,

I am buying a new mailing list and have a few questions regarding the criteria.

I am on a tight budget ($500/ month roughly)

I am looking to send out about 1000 per month/250 per week (Which is better???)

Here is the criteria i am looking to purchase:

Geography: DuPage County, and a few other desirable town nearby

Property: 51 to 100% equity, 5+ years length of residence, 3-100 bedrooms

Options: Mailing address complete, Exclude corporate-owned, exclude trustee-owned, absentee owned in-state, absentee owned out-of-state

I was thinking about adding year built if i do owner occupied as well. @Michael Quarles

I have heard that owner occupied are just as good. I am looking for whatever is best for investors on a tight marketing budget. I plan to reinvest my first wholesale deal back into my marketing budget.

Thoughts, suggestions or advice????

Regards,

Trevon Peracca

0 Votes

← … 12 13 14 15 16 17 18 19 20 21 22 … →

All Forum Posts by: Trevon Peracca

Trevon Peracca has started 72 posts and replied 230 times.

Post: Outsourcing my Wholesaling business.

Post: Direct Mail; must it always be Yellow?!

Post: Outsourcing my Wholesaling business.

Post: Outsourcing my Wholesaling business.

Post: Outsourcing my Wholesaling business.

Post: DIRECT MAIL MARKETING STRATEGIES

Post: DIRECT MAIL MARKETING STRATEGIES

Post: Buy a primary residence or rental property?

Post: DIRECT MAIL MARKETING STRATEGIES

Post: New mailing list criteria