In the realm of real estate, sometimes attitude defines success more than does the condition of the market. Expert real estate consultant and personal development coach Patrick Precourt points out the mental hurdles and behaviors that could either hinder or drive investors.
Many real estate problems begin with fear, usually resulting from uncertainty regarding outcomes. Fearful investors may get frozen and incapable of acting as required. Furthermore, one’s perspective is quite important; if an investor does not really feel they can reach it, their actions and choices would show uncertainty, therefore restricting their possibilities.
A great success depends primarily on consistency. It’s about consistently doing daily chores that are really vital in real estate, not about one-time spectacular success. Building confidence by action is the concept; small, reasonable objectives and their accomplishment generate momentum that could lead to more significant achievements.
Also very important is knowing the fundamental concept of objectives. It is about emotionally connecting with financial independence or more time, not just with aspirations for such things. This emotional link might be the gasoline required to go over obstacles and remain dedicated even when motivation runs low. A positive attitude relies on your honesty about the sacrifices you are ready to make and in your integrity to meet obligations.
Patrick also offers logical mental techniques for conquering challenges. Psychologically, for example, being ready and seeing challenging situations might help one to face them in real life much more easily. It’s about teaching the mind to regulate possible errors before they materialize, therefore lowering anxiety and increasing confidence.
Watch on YouTube:
Key Takeaways:
Rewiring Mindset:
With over two decades of experience, Patrick dove into the power of mindset for success with electrifying insights! He revealed how fear and limiting belief systems can be the ultimate roadblocks to achieving goals. With his experience in health and fitness, Patrick showed how people often limit their own potential simply by doubting their abilities. The key to breakthrough? New evidence and real experiences to shake up those old beliefs! When Sharad asked how to rewire these beliefs, Patrick shared that while affirmations, reading, and masterminds help, they may not be enough for a true mindset shift in adults. (00:01:00)
Building Belief Step by Step: Patrick emphasized the power of belief in achieving goals, sharing Joe’s story of weight loss and running a 5K. He explained that success comes from changing beliefs first, not just focusing on diet or exercise. By breaking goals into smaller, manageable steps, each victory builds confidence and momentum. This step-by-step approach helps rebuild self-trust and solidifies belief in reaching the goal. (00:06:32)
Master The Mundane:
The discussion highlighted how success stems from focusing on the process rather than fixating on the outcome. Belief in achieving goals grows when small changes become evident, leading to a mindset shift. Successful real estate investors and fitness enthusiasts achieve results by consistently executing daily tasks, like marketing or working out, without obsessing over the end goal. By concentrating on what they can control, the desired results naturally follow. (00:10:00)
Mastery Through Consistency:
Success comes from being patient with results but relentless in the process. By consistently performing simple, mundane tasks—like daily calls and follow-ups—investors and professionals gain an edge. Mastery, in real estate or martial arts, is achieved through repetition of the basics over time. (00:14:30)
Daily Wins for Long-Term Success: The focus was on the importance of daily behaviors over fixating on the end goal. Success is seen as steady, forward progress, with small daily wins increasing the likelihood of future achievements. Tracking habits, like reading and listening to books, helps maintain consistency and leads to long-term success. (00:18:58)
Start Small, Act Now: Setting clear, achievable goals and breaking them into manageable steps was emphasized. The focus was on aligning daily behaviors with these goals, starting small and gradually increasing efforts. Motivation should not be a prerequisite; action creates progress. (00:23:49)
Know Your ‘Why’:
The discussion centered on the challenges of real estate investing and the role of motivation. Understanding one’s ‘why’ and setting meaningful goals are key to success. Emotional energy and perseverance are crucial in overcoming obstacles and staying committed to the path. (00:29:25)
Meaning Fuels Success:
The conversation highlighted the power of meaning in driving success. Using the example of a father saving his daughter, Patrick illustrated how deep meaning fuels motivation and resilience in the face of challenges. Motivation, he noted, should be reserved for extraordinary moments, not relied on to get started. (00:33:05)
Commitment and Sacrifice:
The discussion emphasized the role of commitment and sacrifice in achieving goals. True commitment means following through, despite challenges, and making necessary sacrifices. If one isn’t willing to sacrifice, they may not genuinely want the goal, and it’s okay to acknowledge that. Self-awareness and resisting external influence are key. (00:36:48)
Grow Through Failure: The discussion highlighted the importance of personal and professional growth through failure, with insights from Patrick’s upcoming book “Fail Forward.” They emphasized pushing beyond comfort zones to avoid stagnation and using mental strategies to overcome challenges. Both agreed that discipline and mental preparation are key to success. (00:42:48)
Residential lender Nate Mack gave great insights on financing techniques for real estate investors in a recent Mastermind session with Founder & CEO of REsimpli, Sharad Mehta. Expert in managing investors, Nate underlined the need for keeping an eye on the state of the market and optimizing cash flow. Although interest rates are down, Nate urged investors to concentrate on cash flow instead of attempting to precisely time the market as refinancing prospects might materialize shortly.
Nate pointed out the appealing investments in middle-American towns such as Gary, Indiana and Columbus, Ohio, where declining property prices and rising rental demand provide possibilities. He also spoke about the freedom investors have when financing houses—that single-family homes might have as low as 15% while multi-unit complexes need 25%.
By dividing debt with their partner utilizing loan consolidation techniques, investors might avoid the 10 financed properties restriction and open space for more properties. Considering potential increased value, Nate also noted inventive financing options include deferred financing and renovation loans, which allow investors to use home equity to cover both purchase and remodeling expenditures.
Avoiding typical blunders including erroneous reporting of rental revenue, which may restrict an investor’s financing alternatives, depends critically on a qualified contractor, friendly lender, and professional CPA. Nate emphasized at last the need for having a qualified team in place. Combining the appropriate tactics and personnel lets investors navigate the always shifting real estate market and boldly increase their holdings.
Watch on YouTube:
https://youtu.be/GI2ZVC8j3O0
Key Takeaways:
Expert Insights on Real Estate Lending: Sharad introduced Nate, an expert residential lender, sharing his gratitude for Nate’s assistance in securing a loan for his own home. Nate reflected on his 5-year journey working with investors and stressed the value of having a team that aligns with the investor’s goals, not just a loan officer. (00:01:00)
Navigating Interest Rates in Real Estate Investing: Sharad and Nate tackled the current interest rate environment and its effect on investors. Nate shared that rates are trending downward but cautioned against paying too much to lower rates, as future refinancing opportunities may arise. He noted that a 1% drop is typically a good indicator to refinance. They also explored market trends, highlighting the strength of middle American markets for investors. While Sharad inquired about 30-year fixed loan rates, no specific figures were mentioned. (00:03:27)
Refinancing and Market Opportunities for Investors: Nate discussed the current decline in interest rates, advising investors to avoid spending too much on buying down rates, as future refinancing opportunities are likely. He suggested waiting for a 1% drop in rates before refinancing. Nate highlighted middle American markets, like Columbus, Ohio, as strong areas for investment due to lower taxes and growing property values. He also noted that investment property loans come with higher rates compared to primary mortgages. (00:05:00)
Investment Property Requirements and Strategies: Nate explained that purchasing investment properties comes with higher interest rates and typically requires a 15% down payment for single-family homes and 25% for multi-unit properties. He also noted strategies like consolidating debts or moving them out of personal names to bypass the 10-financed properties limit. When Sharad asked about avoiding the 20% down payment and property limit, Nate confirmed these are standard but mentioned there are ways to work around them. (00:10:44)
Loan Strategies and Debt Consolidation: Nate discussed how investors can handle the 10-loan limit, suggesting strategies like splitting loans between spouses or consolidating smaller loans through refinancing. He also mentioned moving debts out of personal names and into the commercial space, which can free up room for additional conventional loans. This approach helps investors continue expanding their portfolios while managing existing debt. (00:14:00)
Strategic Planning: Nate and Sharad stressed the need for a solid investment strategy, including working with a knowledgeable CPA and lender to assess cash flow. They pointed out common mistakes by new investors, like failing to document rental income or claim depreciation. Nate also emphasized how lenders view investment properties as both assets and liabilities. They wrapped up by discussing potential benefits from programs and incentives available in specific cities and states. (00:16:21)
Boosting Cash Flow and Using Incentives: Nate emphasized documenting rental income accurately and claiming depreciation to maximize cash flow for future investments. He also mentioned underused city and state programs offering incentives, particularly in areas like Indiana, that can help investors finance properties more creatively. (00:20:00)
Lender Strategies and Asset Protection: Nate and Sharad discussed lender incentives for low-income areas, like closing cost discounts. Nate recommended using a trust for asset protection instead of an LLC. They also covered transferring property titles post-closing, which doesn’t typically cause issues if debts are paid. Lastly, Nate explained that buying properties with existing financing or assuming loans is possible if lender guidelines are followed. (00:23:47)
Market Growth and Property Valuation: Sharad and Nate discussed rising property values in Midwest markets, especially Gary, Indiana. Nate explained that appraisers focus on recent purchases and renovations when assessing values, with some flexibility in their evaluations. They also explored how this market growth influences investor activity. (00:29:58)
First-Time Investor Tips and Loan Options: Sharad and Nate discussed buying multi-unit properties with FHA loans, living in one unit, and renting the others. Nate also covered cash-out refinance rules, delayed financing, and renovation loans. Sharad expressed interest, and Nate shared his contact for more details. (00:33:46)
You need to kiss 500 frogs to find five princes (or, you know, deals). By tweaking the ponds where you find those frogs, maybe the number drops to 400. Maybe blue frogs work out better than yellow frogs. The metaphor is falling apart, but you get the point.
That begs the question though: which metrics matter most to real estate investors?
Start tracking the following real estate KPIs (key performance indicators) to get a better pulse on your investing business. You can use a real estate CRM like REsimpli to track these numbers automatically, so you can check them any time.
New Leads
Real estate deals start as leads. If your leads stop coming in, you stop closing deals.
When you first log into REsimpli, you’ll see your New Leads listed front and center on the dashboard. You can track their volume over time, to keep an eye on their flow and consistency.
Abandoned Leads
You can stay in touch with leads through an automated drip campaign, or manually contact them on a regular rotation through scheduled tasks.
But what happens if a lead isn’t hearing from you through either scheduled tasks or automated drip campaigns?
They aren’t hearing from you at all, and they become abandoned leads. They subsequently lose all value to you.
REsimpli automatically tracks these abandoned leads for you, so you can quickly identify them and get them back on a drip campaign or assign a task of contacting them. You paid good money in your marketing campaigns to collect these leads — don’t let them go to waste.
Seller Appointments
Likewise, you need to track how many seller appointments you’re making. And how many appointments successfully result in you or your team member seeing the property.
Appointments help move your leads further down the funnel toward closed deals. REsimpli lets you filter these by time period, and track appointments for each of your team members.
Completed Deals
How many deals are you actually closing each month?
This metric starts getting to the heart of your results. The more deals you close, the more money you can earn in a given month.
Revenue
Speaking of which, what was your gross revenue last month? Last year?
Without revenue, you don’t have a business. You have an expensive hobby.
Net Income (Profit)
The ultimate goal isn’t actually revenue — it’s profit. After all, your business could earn $100,000 per month, but if you spend $101,000, you’ve lost money.
You can track your completed deals, gross revenue, and net profit on the KPI Analytics page in your REsimpli dashboard.
Leads Per Channel
Not all marketing channels are created equal. You may have raked in 20 leads from one channel and 100 from another, even if you spent the same amount of money on each.
REsimpli helps you track the source of all leads, through dedicated landing URLs, email addresses, and tracking phone numbers.
Cost Per Lead
How much do you pay for each lead on average?
At the top of your marketing funnel sit your leads, and they cost you money.
Cost Per Deal
Meanwhile, the bottom of your funnel is your closed deals.
How much does each deal cost you on average?
Marketing ROI Per Channel
For every dollar you spend on leads from each marketing channel, how many dollars do you earn?
You may discover that you earn $3 for every $1 you spend on marketing to probate leads, but earn $10 for every $1 you spend on preforeclosure leads. By accurately tracking the return on investment (ROI) for each marketing channel, you know where to double down versus where to scale back.
As a general rule, the longer you run a marketing campaign, the better you can optimize it. Aim to focus on marketing channels that you think you can keep running for longer periods of time.
Success Rates at Each Phase of the Funnel
Leads come in at the top of your funnel. To move them toward your ultimate goal of closing a deal, you first need to meet the owner for an appointment at the property.
The next step in the funnel is to make an offer — for the properties that warrant it, that is.
And at the bottom end of your funnel, you need to close on the deal by buying the property.
So how do your conversion rates look at each step down the funnel?
Leads/Appointment: The percentage of leads that result in an appointment.
Appointments/Offer: The percentage of appointments that result in an offer.
Offers/Deal: The percentage of offers that result in a closed deal.
Then step back and look at the funnel as a whole. What percentage of leads can you close as deals? What percentage of appointments?
Ultimately, you want to put each of these conversation rates under the microscope and look for ways you can improve them. By closing more deals for every 100 leads, you reduce your cost per deal, and become a leaner, more efficient, more profitable real estate business.
The Big Picture
Your numbers tell a story about your real estate investing business. The better you are at reading these numbers, the better you’ll diagnose both problem areas and opportunities in your business.
Use a real estate CRM to track your real estate KPIs automatically, so you can review them at a glance. As time goes by, you’ll get better at reading their story — and using that information to grow your profits.
Sharad Mehta welcomes former firefighter turned real estate investor Ian Horowitz for this REsimpli Mastermind episode. Ian recounts his story of managing a $70 million portfolio of self-storage and varied real estate from purchasing a $25,000 house in 2012.
Starting with single-family houses, Ian stresses the need to learn basic skills before entering the commercial real estate market. Fortune favours not only the brave but also those who work hard and arrive ready. Based on experience, he counsels readers on their own degree of preparedness as well as on little gestures.
Emphasizing openness and clear expectations for equity investors, the conversation also examines the variations between debt and equity investments. The useful ability to observe little details and keenly notice changes can go a long way in this business. Clarity is power, because it helps save time by avoiding miscommunications and conflicts.
The discussion also covers how political circumstances and municipal rules affect property investments; as self-storage facilities provide greater operational freedom than residential buildings. Ian considers his 12-year route and wonders whether early engagement with commercial banking and real estate might have hastened his development.
The program ends with an offer to network with colleagues from the real estate sector, therefore underlining the need for cooperation in this sector.
For real estate investors striving to grow their company and change their strategy, this episode offers a lot of smart advise. Discover the complete podcast to learn and interact with the most recent breakthroughs in real estate management with fresh ideas from REsimpli!
Ready for expansion of your company on real estate? Acquire these techniques and begin immediately to change your business!
Key Takeaways:
Start of Something Great:
Ian describes a tough time with overtime and company closures, prompting him to seek financial security through real estate. His first purchase was a $25,000 house, with $25,000 to $35,000 in improvements. It generated $1,250 in Section 8 rent and $600 monthly cash flow. This success hooked him, and now he owns and operates nearly $70 million in real estate nationwide.(00:03:57)
Big Deals, Less Efforts:
Ian explains that he prefers fewer but, larger deals now. Previously, he did 30 to 40 deals a year, flipping or adding houses to his rental portfolio. This year, doing five deals would be significant. He mentions closing a million-dollar deal quickly and working on a $13 million deal projected to be worth $20 million. This approach allows for a more methodical and less rushed process.(00:06:10)
Do What Makes You Happy:
He acknowledges that many people get discouraged because they’re not yet where they want to be in their real estate journey. He advises focusing on the present and making the best of current opportunities, aiming to reach desired goals in a few years. Ian highlights that different people have different aspirations; some may start with one flip a year and scale up, while others might aim for commercial deals. The key is to pursue what makes you happy. (00:11:54)
Success Factor:
Ian reflects on the fear and risk involved when first entering real estate, emphasizing that growth requires taking risks and getting uncomfortable. He notes that people often get too comfortable, but advancing from single-family to commercial real estate required him to rebuild the underwriting process and learn to communicate with banks. He highlights that success in real estate isn’t about the properties themselves but the willingness to push beyond comfort zones to achieve the next level. (00:20:18)
What It’s Like Being An Equity Investor:
Ian discusses the importance of setting transparent expectations when raising capital. Using the movie “The Big Short” as an analogy, he illustrates how equity investors are in it for the long haul, experiencing ups and downs. He emphasizes that success relies on the ability to navigate challenges, making sure they understand it will be a wild, bumpy ride, but they are along for the journey. (00:23:31)
Difference In Transaction Cost:
Ian explains the differences in eviction timelines across various states. In Mississippi, Louisiana, and Texas, he can evict tenants within 30 days if rent is unpaid. However, in Arkansas, the process takes 75 days, which he finds lengthy. He contrasts this with even longer timelines in states like Illinois and California, highlighting the varying challenges landlords face depending on the state. (00:31:28)
Eviction Timelines: Comparing States:
Ian advises identifying states that are easier to operate in based on property taxes, transfer and recordation taxes, and whether they are pro-tenant or pro-landlord. He highlights Louisiana as an example, describing it as a blue state with favorable tenant laws. He shares an experience where, after filing an eviction on a Thursday for a special needs tenant, he had a court date the following Wednesday and the sheriff was involved by Friday, completing the process in just eight days.(00:15:43)
Lead Communication Order:
Ian explains that commercial real estate offers more opportunities to create and scale a true company. He notes that unlike some investments, you don’t always see the inner workings or need to broadcast every deal.(00:43:00)
Investment Sizes and Accreditation Requirements:
Their average investment size is around $50,000, but they accept amounts as small as $10,000 and as large as investors wish to contribute. For non-accredited investors, a pre-existing relationship must be established before proceeding, highlighting the need for ongoing interactions rather than a one-time meeting. (00:44:20)
No Hesitation:
Previously, he lacked the maturity to enter commercial real estate sooner, regretting his eight-year delay. Fear of financing held him back despite opportunities. He now wishes he had trusted their capabilities earlier but remains optimistic about making up for lost time. The host commends Ian for his openness and approachability in sharing his business experiences. (00:19:24)
REsimpli CEO and founder Sharad Mehta hosted real estate investor Ty Franklin in the REsimpli Mastermind. Ty is doing rather well approaching complete strangers.
If Ty wants outstanding leads converted into sales, he first contacts a reputed virtual assistant. Ty moves fast from wholesale to full-time real estate investor. His artificial intelligence analyzes 17,000 phones calls daily for possible buyers with property criteria. His method greatly facilitates lead development and certification procedure. His concentration on property prices and market movements sharpens knowledge and preparedness. Ty looks at consistency, follow-up, and leadership.
Ty additionally includes virtual assistant management training, targets, and standards. Many times, potential real estate buyers seek him advice on rapid cold contacting using technology. He chooses nice properties to boost sales for certain vendors. Depending on Ty’s example quality over quantity rule, every cold call should have suitable objectives, training, tool and website automation of tasks based on Ty’s example, thereby improving virtual worker productivity.
While cold calling is challenging, Ty’s success points to possibilities based on carefully considered ideas. Including his concepts into your real estate company can assist to raise closure rates and investment returns.
With this extended interview or transcript, one may better grasp Ty and his style.
Key Takeaways:
1. Cold Calling Insights:
Sharad, founder of a property management and investment company, learns about Ty’s successful cold calling strategies, which have led to over 78 closed deals. Ty emphasizes the importance of investing in cold calling software and acquiring more data to enhance the process. (00:02:47)
2. Success in Cold Calling:
Ty’s core caller in the Philippines earns $7 per hour plus $300 per closed deal. Ty plans to train her for more tasks while he handles follow-ups. Ty also shared his data retrieval process, getting information directly from the city or county. (00:06:07)
3. Managing Cold Callers and Lead Startegies:
Ty focuses on qualified leads and contacts, not call volume. He holds bi-weekly meetings with his cold caller, to review scripts and leads. Qualified leads are sent via Discord, and Ty contacts them within 1 minute, ensuring efficiency. (00:12:34)
4. Lead Qualification Tips:
Ty and Sharad agreed that serious leads often respond if the price is 10% below the Zillow estimate. Ty offers more for properties in disrepair to lower prices. Sharad suggested new callers work 2-3 hours daily, noting that Saturday calls can be valuable. (00:19:55)
5. Lead Follow-Up Strategies:
Ty pulls and prioritizes pre-foreclosure and probate lists daily, updating other lists quarterly. He follows up immediately on leads and plans to add SMS marketing. Ty’s strategy includes recycling data and multiple calls per lead, with numbers sourced from a skip tracing service. (00:29:33)
6. Lead Generation Tactics:
Ty maintains strict qualifications for serious leads and tailors campaigns by list. He recycles unresponsive leads and uses aggressive follow-up calls and texts. Sharad and Ty discussed voicemail usage and setting rules for follow-up calls. (00:35:47)
7. Investing, VAs, Rehab:
Sharad and Ty discussed best practices for estimating rehab costs and managing VAs. Ty emphasized investing in software, regular VA communication, and a strong mindset for cold call rejections. Sharad agreed, suggesting hiring a VA after a few deals instead of spending earnings. They concluded by discussing Ty’s dialer tool. (00:44:29)
8. Effective Cold Calling Strategies and Systems:
Ty provided tips on cold calling, emphasizing using multiple numbers, limiting daily calls, and adding fresh data. He highlighted understanding tools, training VAs to handle objections, and implementing an IVR system. Sharad encouraged consistency and the importance of systems and processes. Ty also shared he hasn’t been sued for cold calling. (00:52:14)
9. Marketing:
Ty often requests property pictures from sellers but prefers visiting in person. He advised new investors to target absentee owners with two or fewer properties, at least 60% equity, and 7+ years of ownership. (00:25:04)
10. Monitoring and Motivation:
Ty Franklin ensures his VA stays productive and motivated by holding bi-weekly meetings to review call performance, critique scripts, and identify missed opportunities. By monitoring key performance indicators, such as daily contact rates, he maintains efficiency and addresses issues like time theft, ultimately enhancing the effectiveness of their cold calling efforts. (00:13:07)
This time in REsimpli Mastermind, seasoned real estate investor Sharad Mehta, CEO and REsimpli Founder, hosted the inventor of many seven-figure companies, Stratton Brown. Currently attempting to expand his company from $0 to $1 million in net income in six months, Stratton is finding added difficulty. Stratton offered keen analysis of his approaches and experiences, therefore arming anybody wishing to run virtual teams or create their own businesses with useful information.
Stratton started his road into business after an NFL career and eventually found real estate wholesaling. Currently building a virtual assistance company, he expands it fast using virtual teams. Social media is displaying his six-month objective net income of $1 million as well as real-time strategy analysis.
Stratton underlined during the conference the need of performance monitoring and responsibility in managing virtual assistants (Vas). Hiring from aspiring talents from abroad can work wonders. Speaking on the need of strong communication, frequent check-ins, and key performance indicator (KPIs), he made sure virtual teams stay involved and active. The multicultural environment often bring diversity in ideas and a health sense of competitive inspiration. The conversation also centred on how remote teams should support the preservation of a strong corporate culture that guarantees people feel appreciated and involved.
Either read the transcript down below or listen to the whole episode!
Key Takeaways:
0 to 1 Million in Revenue Challenge:
Stratton Brown is doing a challenge where he’s aiming to reach to net 1 million in revenue from 0 revenue within 6 months and he’s going to share his business strategies there. (00:01:20)
Journey and Remote Team Management:
Strat and Sharad discussed their company’s evolution and challenges. Their company pivoted from ‘call Magicians’ to ‘virtual help’ and is aiming to reach a million in revenue within six months. They also shared their experiences in managing remote teams, emphasizing the importance of clear roles and daily communication. (00:04:52)
Building Positive Company Culture Across Locations:
Strat and Sharad prioritize company culture for happy, loyal employees. They recommend a welcoming atmosphere, team events, and birthday recognition. Remote teams pose challenges, but regular communication, shared values, and occasional gatherings can bridge the gap. (00:13:29)
Strategies for Hiring and Managing Talented Teams:
Stratt’s on the hunt for top talent. He emphasizes finding quick learners who can solve problems (“firefighters”) and suggests skipping personality tests in favor of problem-solving interview questions. He also sets performance metrics: 300-500 calls per day for cold callers and quality over quantity for lead managers. (00:19:52)
Improving Cold Call Strategies and Systems:
Going from zero leads to four in a day with lots of voicemails. They brainstormed solutions for wrong numbers, hangups, and voicemails, considering a single line dialer for better connections. Sharad hinted at a future update with list stacking and click-to-dial. (00:25:14)
Transitioning to One Million Dollars in Net Revenue:
Sharad and Stratt tackled the million-dollar hurdle. Stratt’s plan involves setting goals and overcoming sales & hiring challenges. They’ll juggle multiple contracts and agreed on a commission-only model (10% + $20k bonus) and fair salaries for overseas teams. (00:30:28)
Overcoming Challenges and Leveraging Financial Incentives:
They talked about needing people who can solve problems and might use bonuses to motivate their team, especially overseas. This worked well for their government tax credit company with sales reps in the Philippines and Colombia. (00:38:24)
Real Estate, Marketing, and Metrics Discussion:
Stratt shared his real estate and marketing secrets. His winning formula combines cold calling with PPL, PPC, and inbound leads. They navigate regulations and explore direct mail, but recommend measuring results for success. (00:43:10)
Business Strategies, Outsourcing, and Lead Generation:
It focused on building a strong team through hiring and outsourcing. He recommended “Unique Ability 2.0” to identify strengths for outsourcing tasks. Lead generation and virtual assistants were discussed, clarifying their use in real estate marketing (separate from tax credits). Easy REI Closings, their transaction management service, was also mentioned. (00:50:17)
Best CRM:
Stratt Brown highly praised REsimpli as the best CRM product he has ever used, commending Sharad and his team’s ability to rapidly implement new updates. He expresses his love for the system, stating that even though they weren’t using it before the challenge, REsimpli surpasses other CRMs he has spent thousands of dollars on. (00:03:23)
Real Estate Drip Campaign consists series of customized, scheduled, and automated contact activities, or drips, that investors use to optimize lead follow-up.
Each activity is scheduled and executed without additional work from the real estate investor.
From automated calls and SMS to ringless voicemails and automated email marketing, the scheduled activities take place over time, a little here, a little there, like a dripping faucet.
REsimpli users can choose from a variety of real estate drip campaign templates or create customized marketing campaigns. Streamline follow-up and build better relationships.
Stop missing out on potential motivated seller leads. Set up drips to work for you.
Miracle deals happen: an investor is in just the right place, at just the right time, and meets an extremely motivated seller who is ready to sell now. True success, however, doesn’t come from closing one miraculous deal.
To unlock real success and sustainable business growth in real estate, investors need to close great deals consistently.
Locating target properties is just the first step. The key to real estate success is consistent, quality lead follow-up.
Discover the power of lead follow-up and drip campaigns.
Did you know that only 2% of sales occur during the first contact with a lead? Out of all of the first phone calls that investors make, or direct mailers they send, only 2% of those contact attempts lead to our s0-called “miracle deals.”
Pro Investor Tips: Automate your follow-up process to keep your leads engaged and move them through your sales funnel.
Real estate is a numbers game.
Let’s break it down:
If you were to send out 10,000 Direct Mail pieces, you may hear back from 100 people.
Of the 100 people that do call back, you might get incredibly lucky and speak with one or two ready-to-sell motivated homeowners and close one deal.
If you don’t follow up with the other 99 leads, you could be leaving a lot of money on the table.
Let’s do some quick maths with two scenarios.
First scenario:
You spent $5,000 in Direct Mail marketing and landed one deal.
Considering your average revenue per deal is $15,000, your ROI would be:
Return on Investment (ROI) = $15000/$5000=3x Cost per Deal = $5000/1= $5000
What if you were able to close one extra deal from the same campaign without spending any extra money?
Let’s do the math again…
Second Scenario:
You spent $5000 on direct mail.
You closed 2 deals this time and made a revenue of 2*$15000=$30000
Return on Investment (ROI) = $30000/$5000= 6x Cost per Deal = $5000/2= $2500
Converting one extra deal means doubling down your ROI and cutting down your Cost per Deal to half.
This is where the power of drip campaign comes in. It helps you convert more deals from your existing 99 leads by automating the follow-up process eventually resulting in much higher ROI.
How many lead follow-up attempts should you make?
The number of deals real estate investors close directly correlates to the number of contact attempts they make.
Whether contacting past clients or leads from your target audience, the lead response rate increases the more you reach out.
Real estate success rates compared to lead contact attempts:
1st attempt: 2%
2nd attempt: 3%
3rd attempt: 5%
4th attempt: 10%
Investors start to really see success rates grow after their fifth contact attempt. In fact, 80% of deals occur between the 5th and 12th attempts.
If you give up on a lead too early, it could cost you, and your small business, big time.
How many real estate investors follow up with leads?
When a lead comes in, a switch flips in the minds of most investors: it’s all about the money.
The faster you reach out to a motivated seller, the higher the likelihood that you’ll close a deal.
You would think that all investors have fast fingers and are quick to call leads back, but that isn’t the case.
44% of investors never follow up with prospects, and 25% give up after the second attempt.
12% of investors make three contact attempts or more, with only 8% of all investors contacting leads five times or more, even though the majority of deals close after five or more attempts.
Why don’t investors follow up with leads?
Investors may not touch base with leads for a variety of reasons, such as:
They have a fear of rejection.
They lack automated tools.
They have a difficult sales plan in place.
They have a small business without enough help.
If you miss the initial call from a lead, reconnecting can be difficult, but the investors with the most success are persistent.
They keep calling. They send direct mail. They follow up, and then they do it again.
Over and over.
Investors reach out to leads consistently, or they set up a drip campaign to do the hard work for them.
Real estate drip campaign examples
Outperform competitors with REsimpli real estate drip campaigns.
Although it can feel disheartening, to reach out repeatedly with no response, investors who reach out to non-responsive leads consistently have an advantage over investors who give up quickly.
Swooping in on the competition’s missed opportunities is a great way to become the foremost investor in a seller’s mind, but who has the time to make hundreds of phone calls each day or design, print, and send dozens of direct mailers each week?
What is Automated real estate drip campaigns?
Automated real estate campaigns consists series of customized, scheduled, and automated contact activities, or drips, that investors use to optimize lead follow-up.
Each activity is scheduled and executed without additional work from the real estate investor.
From automated calls and SMS to ringless voicemails and automated Email campaign for real estate agents, the scheduled activities take place over time, a little here, a little there, like a dripping faucet.
REsimpli users can choose from a variety of drip campaign templates or create customized marketing campaigns. Streamline follow-up and build better relationships.
A drip campaign acts like an automated salesperson that works on your behalf, 24-7.
They identify what needs to be done, when it needs to be done, and make it happen.
Picture an automated virtual assistant with access to your marketing strategy, to-do list, specific instructions, and infinite energy
With REsimpli’s built-in automated drip campaigns, busy real estate investors can set it and forget it.
The sequence you set continues to work for you, even when you’re not around. Using automated drips, you can keep up with leads and drive traffic to your business, even when you’re away from your desk or out of the office entirely.
You may not have time to individually SMS 998 leads, but REsimpli does.
What is a drip sequence?
A campaign’s drip sequence is the sequence that automated software follows; it is the order of events in a drip campaign. If the campaign is a faucet, each drip in the sequence is an additional attempt to reach the seller, slowly but steadily continuing over time.
You may be waiting to hear back on an offer, for example, but aren’t having luck getting in touch with the owner.
Set up a chronological sequence of contact activities and reminders, to ensure that the lead doesn’t get lost or forgotten and that no deals fall through the cracks
What actions do drip campaigns include?
Most investors create sequences that include multiple different contact methods.
The most common drip campaign activities include phone call reminders, SMS, ringless voicemail, direct mail, and email drip campaigns.
Investors choose which communications to include in the campaign and in which order by assigning leads to a particular campaign.
Are email drip campaigns effective?
While email drip campaigns are popular marketing efforts in many industries, real estate investors have more success with telephone calls, SMS, and direct mail than email automation.
How do you use a drip campaign?
When a new lead comes in, the first thing you want to do is add the lead to a drip campaign, either by selecting an existing campaign or by creating one of your own.
In addition to new leads, drips are also powerful tools for continuing communication efforts with homeowners you’ve spoken with before but who are not responding now.
REsimpli users can assign a new lead to a campaign in just a few steps.
Step 1: Open the lead
Search for the lead in your system to open and locate existing leads. If the lead doesn’t exist already, create a new lead with the information you have.
Step 2: Skip trace for missing property information
Skip trace the lead to fill in missing property information, such as missing phone numbers or an absent mailing address.
For example, you may have received a missed call, but the owner’s not responding to return calls.
Skip trace to find an updated email address or current mailing address so you can attempt to contact via other methods.
Step 3: Add the lead to a campaign
Depending on the level of communication you’ve had with a seller, your contact needs will change.
For example, you’d communicate differently with a seller that you’ve made an offer to than you would if you were following up regarding an appointment.
Common campaign name examples include: Real estate drip campaign sample
Made Offer-No Response
Reschedule Appointment-No Response
Website Lead
Direct Mail Lead
Long-Term Follow-up
Select an existing campaign that suits the lead type and current situation. The actions detailed in the campaign sequence will automatically be applied to the new lead.
Step 4: Set the campaign’s start and end date
Determine when the first and last drip action will take place, as well as the frequency of actions in-between.
If you don’t want the first action to take place immediately, add a delay. A delay of one week, for example, tells the CRM to kick off the campaign in one week.
Step 5: Set it and forget it
Confirm the details of your campaign, and you’re done! You’ll receive automated task reminders when it’s time to give the lead a call.
As REsimpli completes scheduled activities, the system tracks the lead status, contact attempts, and any notes added along the way.
If you receive a no-contact request from a homeowner, simply remove the lead from the assigned campaign.
Creating new customized drip campaigns
In addition to assigning leads to created campaigns, REsimpli users can create new custom campaigns designed to fit the homeowner’s contact preferences and communication style, as well as the investor’s objective.
To create a new campaign, open a lead. Instead of attaching the lead to an existing campaign, create a new drip campaign instead.
Naming new campaigns
Give new campaigns an informative name, making it easy to identify the purpose and target of the drip.
Example campaign names include:
No name/No Address: A call came in, but you have no name or address for the caller.
Text drip campaign real estate: You received a lead text, but have not had direct contact yet.
Contact made-No Appointment: You have spoken with the lead, but have not scheduled an appointment.
Offer-Went Dark: You made the homeowner an offer, but have not heard back yet.
Setting up the campaign’s sequence
Select the first action you want to attach to the lead and schedule it.
For example, you may want to give the lead a follow-up call in one week. If so, select a telephone call as the first action in the sequence.
Next, confirm the date and time for the call. As the scheduled drip approaches, REsimpli will send you call reminders.
If you’ve already had contact with a homeowner, and are calling to follow up, add any relevant lead notes to remind you of important details to cover during the call or to remind you of previous discussions.
Lead notes make it easy to keep track of and share lead details with your team.
Scheduling automated drips
In addition to sending automated call reminders, REsimpli automatically completes a variety of contact attempts on your behalf.
Automated drip actions include:
Text messages
Direct Mailers
Ringless Voicemails
Automated emails
Additional task reminders
Select the next action you want to add to the sequence. Select the date, time, and frequency that you would like the automated action to occur.
At the scheduled time, REsimpli completes the action and logs drip activity in the CRM.
Detailing campaign parameters
In addition to selecting the date and time that drip actions will take place, REsimpli users are in complete control of how and when the campaign occurs.
Fully customizable, the CRM allows you to set a variety of drip parameters, such as:
Delay duration
Msg frequency
Office hours/availability
Duration of campaign
When/where calls are routed
Tell the system to skip holidays and weekends so you don’t bother homeowners over the holidays or during weekend family time.
If the drip falls on a holiday, REsimpli reschedules it to take place on the next business day instead.
Personalizing your drip campaign
Select SMS text or email body from preloaded templates and select which lead details you would like to pre-populate into your message from the message field list.
There are a variety of pre-populated message fields users can add, including:
First name,
Last name,
Date,
Property Address, and more.
Select from the list of built-in message options, or write your own messages, designed to appeal to the type of seller you’re targeting.
Personalized marketing text messages
If you receive a missed call from a no-name lead, your SMS copy may look something like this:
“Hello, this is Robin. I’m sorry I missed your call. I’m just curious if you had any interest in selling your property? If not, my apologies for disturbing you.”
If you’ve made an offer to a lead, but then they went dark, your SMS will likely include a more detailed message, such as:
“Hi, Tom. It’s Robin from Max House Buyer. Have you had a chance to think about the offer I made for you recently? I’m still VERY interested in the property on Dealing Avenue. If you’re ready to sell, give me a call at 555-323-2232. If you’re still thinking things over, no biggie.”
What sequence should drip campaigns follow?
Campaign sequences vary depending on the type of seller you’re trying to contact and the contact information available in the lead.
Choose the right contact methods.
If the lead includes a landline number and mailing address, but not a cell number, you wouldn’t add text messages to the sequence. You would include call task reminders and direct mail instead.
Are you contacting a lead for the first time? Consider starting with a welcome call reminder, followed by an SMS, and then a direct mailer. Leave a ringless voicemail for the homeowner before starting the cycle again.
Schedule subsequent contact attempts in intervals so that you stay top of mind with homeowners without getting on their nerves
Create specialized campaigns.
Investors can create as many campaigns as they want, adjusting the action sequence, changing message text, and tweaking important elements as needed.
Professional investors tend to work with a multitude of campaigns to target different audiences (e.g., motivated sellers, clients, or first-time homebuyers).
A portion of their drips are often highly specialized; they were created for a specific purpose, and are only used to reach a target audience or specific property owner type.
How are drip actions triggered?
Typically, all drip actions are executed on the date and time that they were scheduled to occur (unless affected by a holiday or similar circumstance).
Some drip campaigns, however, may be affected by the seller’s actions or behavior.
If a lead receives an automated SMS and responds with a request to opt-out, the investor is notified and can remove the lead from the remainder of the automated SMS sequence.
If a homeowner shows interest in a recent piece of marketing or an offer, but never answers return calls and gets annoyed when you text, switch up the game plan.
Remove the lead from the remaining SMS sequence, and consider trying drip emails instead.
Keep the homeowner warm with lead nurturing emails, reminding them of their current opportunity and the interested buyers excited to hear from them.
How successful are drip campaigns?
70-75% of REsimpli users report success closing deals as a result of consistent follow-up. At Max House Buyers, LLC, 2.5 deals are closed each month as a result of follow-up from their drip campaigns.
But don’t take our word for it…
Utilizing drip campaigns give investors a massive advantage over real others who are contacting leads manually.
Take it from Ryan, an investor with Crushing REI and Lakeshore Home Buyer, who has a lot of experience working with different CRMs.
Like many investors, Ryan struggled to keep up with leads for years. He wasn’t busy closing deals, so he had the time, but he was still struggling to stay in touch with leads.
After switching to REsimpli, and harnessing the power of automated drips, Ryan pulls in dozens of new leads each week.
He’s consistent, he’s organized, and he’s closing major deals.
As of August, Ryan has already closed four deals this year, earning $50,000 so far in 2022 alone.
He’s turned cold leads into warm leads, warm leads into hot leads, and hot leads into deals, with just a few clicks.
After a lead from 2021 canceled their appointment, Ryan was having trouble reaching the once motivated seller, Chris.
After adding Chris to an automated drip, Ryan received an enthusiastic response to his 5th SMS message and closed a $26,900 deal.
“Would I have got that deal if I didn’t put Chris on a drip campaign? Probably not. It’s all about timing with motivated sellers and if you miss out on that timing you often times miss out on the deal. Chris was talking to a few other “we buy houses” companies and it was my quick response and competitive offer that won him over.” – Ryan
Optimize lead management with REsimpli
The only all-in-one CRM for real estate investors, REsimpli users have access to customizable drip campaigns, skip tracing tools, a built-in Driving for Dollars app, and so much more.
A comprehensive business management system, REsimpli was created by real estate investors for real estate investors to help you through every step of the sales journey
Keep track of new contacts, existing contacts, buyer leads, real estate leads, property sales, contact attempts, and more–all in one place.
REsimpli users can quickly identify different drip campaigns to—
Track lead activity,
Analyze channel performance,
Identify successful campaigns, and
Maximize their marketing budget.
Organize your seller leads with drip tags, helping you categorize and track different lead and seller types.
Thanks to REsimpli’s new Webform integration, you can now add lead tags and assign Webform leads to drip campaigns automatically through the CRM.
With automated drip marketing campaigns and completely customizable templates, REsimpli users create drips that fit their needs and business goals.
Use built-in system tools, or build your own.
REsimpli’s automated services to work on your behalf so you can leave work at work when you depart the office for the day.
Have you wondered what list stacking is, and moreover, how to even get started?
If so, you’re in the right place.
This article provides an essential guide on what list stacking is, how you should stack your list and why you should be using this tried-and-true method beloved by real estate wholesalers and real estate investors alike.
What is list stacking?
List stacking is essentially when you take all your lists from different marketing channels and sources, and put them into a list stacking software like REsimpli.
REsimpli takes all your lists and stacks them, thereby helping you build a more targeted marketing list.
The primary benefit of list stacking is the very “stacking” function, as it helps you build a very targeted marketing list by segmenting them according to different criteria and cross-referencing them.
So, if you’re starting in real estate, you need to have an articulated marketing list because when you’re just starting, you’ll have more time available than money.
Your resources when it comes to money are going to be limited, so you’re going to make sure you don’t blow it away with superfluous tools.
Pro Investor Tip: Do marketing to highly-targeted lists only, or you’ll quickly run out of funds!
Create highly targeted lists for Free!
Sign up for REsimpli’s 14-day free trial and if you think that you like it, get 50%
off on your first month!
How do you stack your list?
REsimpli is the best software for stacking your list.
It’s easy to use and all-in-one so you can list stack along with utilizing several other features in tandem.
For more detail, there are concise explanations of how to go about this on our YouTube channel.
Let’s get started:
The above image is a basic flowchart of list stacking when you’re using the feature, gleaned from multiple marketing lists.
You might use different marketing channels or sources to pull into your list.
For example, you might be using a minor source, like Propstream, you might be Driving for Dollars, you might be removing lists from your county register, or you might be using some other source to buy the inventory.
Here is a simple illustration of how REsimpli’s list stacking function works.
In this example, we’ve taken an absentee list with 4000 records, a probate list with about 3000 records, a pre-foreclosure list with another 3000 records, and a driving-for-dollar list with 1000 records.
When they are combined, they give you 11,000 records. What we want to achieve is to have a targeted marketing list.
We start by adding the list on REsimpli. We achieve this by clicking browse, then choosing a pre-loaded file of absentee listings.
The absentee list is in the left column of the spreadsheet.
First, there is a header column, and then the right column is how you want your header column from your file to be mapped while list stacking.
You’ll notice that most fields already mapped both the first name and last name.
After uploading all the lists, REsimpli breaks them down into valid, invalid, duplicate, and updated sub-lists – the great thing about REsimpli is that we check against USPS to ensure they are valid addresses when we upload any list.
Based on our 4000 absentee records uploaded, 3559 are valid addresses, and two were updated from previous.
Let’s give a brief explanation of what “updated” means.
For this purpose, “updated” means that those addresses were already on some of the other lists we’d preloaded into our system.
The 34 duplicates were removed, and after that, we uploaded a Driving for Dollars list.
If you look closely at the image, no addresses were added, but 998 records were updated; there were no duplicates.
This means that the 998 records already existed in the list, and it’s not adding them again.
We uploaded 3000 records for the pre-closure list, and there were no valid or invalid addresses.
Therefore, we have 2977 updated addresses; 23 were duplicates. For the probate list, 3000 were uploaded, out of which 123 were valid addresses, 25 invalid addresses, 2831 were updated, and 21 duplicates.
REsimpli helps you eliminate duplicate lists by producing a stacked list of records.
Many investors are successful because this is what they do; it’s so successful, it’s precisely what we do in our businesses. We pull lists from different sources.
We use a list source propstream and driving for dollars, and then as we get our list, we ensure that before we do any marketing to them, we put them intp REsimpli, and then we could do direct mail to inform them that we would go in.
This kind of fact and background checking is paramount to your business.
In conclusion, list stacking saves you a hundreds of dollars in marketing by producing a very targeted marketing list.
As a result, you don’t have to waste your money and time by marketing to the same person multiple times. This also saves your image in the eyes of the seller.
REsimpli empowers you with real-time data to help you make better decisions which mean higher net profit.
If you want to scale your business, contact us for a demo and a free 14-day trial.
Knowing who to market to can help real estate investors save time and money – one valuable process to use is list stacking. If you’d like to learn more, you can also watch this helpful video, or watch our newest product update about list stacking and driving for dollars below:
List stacking is a process that narrows down a list of owners using set parameters to identify duplicate listings and build a more targeted marketing list of motivated sellers.
Let’s start with some basic questions:
What is list stacking?
Should you use this method in your business?
How do you stack a list?
REsimpli list stacking extracts your overlapping leads. The system will consolidate your starting number to a more targeted marketing list.
For instance, if your total number of leads from various sources was 11,000, the list stacking feature in REsimpli could reduce this to over 4,000.
By finding these overlaps, you avoid duplicating your marketing efforts for the same person. Why is this important or beneficial? You are saving money!
The targeted marketing list built by this process allows you to use your resources more efficiently. Resources that can be focused on skip tracing these motivated owners, calling them, and sending them handwritten notes.
Step-By-Step Using REsimpli
Using REsimpli is straightforward and can be completed in a few steps.
Click add on the List Stacking page
Click browse file on the Import List page
Select the file to add
Map columns (last name, first name, mailing address, property address)
Name list
Click Submit to upload the list
The uploaded list gets checked against USPS to validate addresses. The system will identify and indicate how many of those addresses are:
Valid
Invalid
Updated
Duplicates
At the end of this process, the various lists you started with are consolidated and you are still reaching every single person from your lists. All without duplicating your efforts.
Have any remaining questions? REsimpli has answers! Contact us with queries or to request a personalized demo today.
Team members are an invaluable asset in real estate. With each member playing a specific role, the goal of closing more deals becomes easily attainable. More so, with the effective use of lead flow.
The lead flow process is about converting newly created leads to appointments. And the goal of these appointments is to get the property on a contract. It is attained with the expert skills of a lead manager and an acquisition manager.
Here’s a straightforward walk-through of the lead flow process starting with the lead coming in through the final step of scheduling an appointment.
Breaking Down the Lead Flow Process
The steps in the lead flow process are clear and precise. And can be completed using REsimpli. Listed below are the steps involved.
Incoming lead
Call Porter
Completion of REsimpli’s Webform
Call with Lead Manager
Appointment with Acquisition Manager
Continue reading for a brief description of each role and how to optimize the real estate lead flow process.
Incoming Lead
The lead flow process starts with marketing! And thanks to your (your team’s) marketing efforts there are incoming leads.
Regardless of the marketing route, Cold Calling, Pay-Per-Click, Direct Mail, and SMS, every lead goes through Call Porter.
SMS leads that desire to be removed from the listing will have the option to do so by leaving a voicemail message. These leads are the only ones that do not go through Call Porter.
REsimpli uses Call Porter, an answering service built exclusively for real estate investors.
Call Porter will answer the call from your incoming leads and ask the seller a series of “motivation” questions.
The motivation questions asked by Call Porter include:
Why are you looking to sell the house?
How soon are you looking to sell (30 days vs a year)?
Is the house vacant or occupied?
How much is the mortgage on the house?
What repairs does the house need?
Do you have a price that you are looking to sell the house for?
All information collected gets input into REsimpli’s web form. The form is submitted and creates a lead. Any additional information provided by the seller is entered on the form as notes.
Webform
While listed as an additional step, the web form process is actually completed by Call Porter. The information on the web form includes:
Name
Phone number
Email address
Lead source
When the lead was created
Property address
Motivation questions
Lead Flow Manager
The lead manager step entails reviewing the lead and calling the lead to schedule an appointment.
It is important to mention that all calls with Call Porter are recorded. This recording is reviewed by the lead manager to gain perspective on the seller. Because understanding the tone can help determine if an urgency to sell is present.
The main goal of the lead manager is to schedule an appointment between the seller and the acquisition manager.
Appointment with Acquisition Manager
The lead flow process culminates with the appointment scheduled by the lead manager for the acquisition manager and the seller.
The goal for the acquisition manager is to successfully make an offer to get the property on a contract.
What makes this whole process successful is the thorough gathering and reporting of information with the use of REsimpli, the webform, the answering service, and the lead manager!
Interested in learning how REsimpli can help you do all this and more? Request a demo and get a free 14-day trial!
Sharad’s latest update details how he uses the REsimpli list stacking function with driving for dollars, direct mail, cold calling, and SMS in his real estate investment business.
Most Effective Ways to Use List Stacking in Real Estate
In the first video of this series, Sharad went into depth on his list sources and how he qualifies them. Absentee, Probate, Preforeclosure and Driving For Dollars lists are all included in his sources. The next steps after list stacking them?
Filter and Clean
Utilizing REsimpli’s built in functions, you can automatically filter based on several criteria, including duplicates and invalid addresses, and cross-reference that by ownership type, vacancy, and listing date. You’re also able to easily save searches and filter for future use.
Order Marketing
With REsimpli, ordering Direct Mail (or sending emails, SMS, and more) is as simple as the click of a button. You can pick order type, medium, dates, and even schedule recurring send outs. REsimpli also makes it easy to track and trace your mail and modify your contact information.
Leads & Return Mail
One thing’s for certain—no matter what tool you use, or what filters you have, return mail is constant. Using REsimpli’s filter options even after list stacking, you can easily ensure the sendees on your list are all accurate and up to date. Narrowing these down is essential to ensure the highest ROI for your business. Based on these filters, REsimpli will consistently scrub the list for you, eliminating the need for virtual assistants or expensive spreadsheet apps.
Follow Up
Depending on the responses, you’ll either have homeowners who are interested in selling,and those who aren’t. Having this list saved means you can directly edit the opt-in and opt-out communications of your contacts. REsimpli will automatically cross-reference your lists in your list stacking to ensure no duplicates come through, and that when someone opts out of one they opt out of all of them.
Real Time Updates
Any criteria you add to leads on REsimpli from now on that fall under these filters, including future opt in or opt out, are automatically considered in this list stacking functionality. Your lists will continually update unless your filters are changed, and thus your lists auto-populate according to many important criteria without you having to continually curate them.
Sharad’s use of many built-in functions means he has time for the things that count—like closing more deals. To learn more about how REsimpli can help you close more deals, faster, request a demo or contact us for support.
Route tracking, or “driving for dollars” (D4$) as it’s commonly known in the real estate business, is the more manual, direct approach to finding wholesale properties that are either off market or distressed. It’s exactly like it sounds—you or one of your team members drives around a prospective neighbourhood to find unique properties that are then put into lead lists.
This is often a very profitable, albeit time consuming method. D4$ has picked up popularity due to the return on investment. Oftentimes, while it can be more physically demanding and/or time consuming, the payout (be that short term or long term) is well worth your while.
Is Driving for Dollars really better than all my phone and email campaigns?
Driving for Dollars isn’t meant to replace or co-opt emails, phone, and direct mail campaigns. Instead, D4$ targets different areas and different types of homes. Specifically, this type of cataloguing means that you’re seeing homes that are pre-market or entirely off market. These are homes you might not otherwise be contacting via direct mail or drip campaigns. The numbers don’t lie—you’re making a sale for roughly every 200 homes you canvas.
Doesn’t D4$ give me a negative return, as I’m spending money and time on manpower and gas?
Not necessarily. While many people balk at the price of gas and cars and labour, it’s important to note that these costs can be compared to the similar expenses of printing, mailing, marketing, and more. The ROI of D4$ is significantly greater than that of mailing sequences. In most cases, driving for dollars produces a four-fold return on investment compared to mail sequences. Marketing in addition to driving for dollars, can help you save time and money in the long term.
REsimpli’s Driving for Dollars app utilizes many different technologies to help you make the biggest bang for your buck while implementing D4$. It can track your routes in real time, monitor zip codes, and ultimately target fresh, high yield areas so you can maximize your profits in less time. The best part? REsimpli’s Driving for Dollars app is integrated with the rest of REsimpli’s intuitive systems, so you don’t have to plug any additional information into yet another software after a long day of driving and cataloguing.
