LandInvestors.com Forums **Ask A Question** Timely response in selecting the best deals

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    Thomas Robbins
    Participant
    Post count: 34

    I would like to know some strategies others are using. I sent my second mailer in October. A couple weeks went by with no responses, so I sent another one out in November to a different county in the same state. Well, my lack of patience bit me. I began getting several calls and signed agreements from my second mailer. I have one purchase at title right now and another behind that one and possibly a third. I have had a massive response on my third mailer where I can’t even keep up with the calls, emails and signed agreements. Many I pass over because they lack one of the 5 A’s. I have several deals lined up with my third mailer. Many sellers are in no rush, but I don’t want to put them off. I can’t handle the volume. What are some of you doing to delay purchases without seeming like an novice? {which I am}.

Viewing 6 replies - 1 through 6 (of 6 total)
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  • Luke Mitchell
    Participant
    Post count: 39

    Sounds like a great problem, Thomas!

    Lucas Osorio
    Participant
    Post count: 46

    I have had the same problems. I took the process as outlined in the RVL document, and wrote it into a procedure. My intent was to make a system that would be easy to train employees eventually. Each step should define clearly which documents are used, where files are located, and which resources are used to perform each function, and what your “stop gates” are etc. Also, which roles within the organization are responsible for each step of the process. After your procedure is written and the steps are clearly laid out, test it for a while. Work out the kinks. Then, down the road, you can get a partner or employee(s) to absorb some of this work. My wife does much of the due diligence work for me now so I can focus on data.

    Additionally, you can use a business flow system or customer relationship management system (CRM) to automate the process. Some of these platforms have a free basic version. It’s fairly inexpensive to hire someone who does programming to get your process flows set up and automated. I got a quote from a gentleman in India who will write all my programming for ~$2,000 on Fiverr. It could have been even less expensive, but I had some fairly complex automated flows that I thought were imperative. But long before that, just get good at each step. It will get easier to manage with each mailer.

    Last point, I wasted a ton of time calling people back just to tell them “I’m not interested.” I realized it wasn’t worth my time to be making phone calls that weren’t making money. So I try to weed those out right away. I also try to get email addresses from everyone upfront so I can send a quick email at my convenience, rather than planning phone calls which take up time. Sometimes it’s actually easier for me to send another letter in the mail, because I can do that at a time convenient for myself. (I still work a day job)
    Whenever possible, I only spend time on the phone with people who’s property I’m genuinely interested in.

    Thomas Robbins
    Participant
    Post count: 34

    Thank you for the advice Lucas, I agree, e-mail seems to be the most efficient communication on my end too. Phone calls are draining. My objective is to operate with efficiency and get back with people as a courtesy to them for responding to my offer. I am having to force myself to slow down, even if it means to put some people off for a bit. I honestly did not expect this kind of response from only 750 offers.

    Thomas Robbins
    Participant
    Post count: 34

    Hello Luke, I am so relieved to get interest from sellers, but this is ridiculous (in a good way). Good luck to you!

    Kevin Farrell
    Moderator
    Post count: 2093

    Thomas – Good for you – you got the mail sent out and you are getting some deals. All good. Also good that you are quickly dumping the ones that don’t meet your criteria. You want a lot of deal flow so that you can choose the ones you buy. Don’t worry about taking your time getting to the sellers. Yes, you may lose some deals, but you can only move so fast. Keep the notes and follow up later. You will refine your business as you go and will be able to handle more volume in the future.

    Kevin Farrell - Moderator
    Need more help?
    Schedule a 60 minute call - https://calendly.com/kevin-629

    Thomas Robbins
    Participant
    Post count: 34

    Thanks Kevin, “refine” is the key word for me in your response. I’ll learn and develop my system as I progress.

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