More People & More Marketing! 📢 | Wholesaling Real Estate
June 01, 2022
Hey, what's up, guys? My name is Graylan Stewart. Today is my work Wednesday blog day and just talking about my everyday life in business. So today it is Wednesday. What is today's date? June 1st. So, we just got back from Vegas trip, which was really fun. Just my wife and I, we haven't been on a trip with just me and her, only without meeting up with other people in close to a year now. So that's pretty rare for us. So, it was well needed, had a lot of fun, lost more money than I hope to, but at the same time I plan on losing money. That's part of the entertainment, in my opinion. As long as you have the money, you're not gambling your mortgage away or something crazy like that. So anyways, it was fun. We saw three different shows, had a good time, but it's really hard, you know, because we're actually we're it's hard for us to find shows to watch because we've pretty much seen everything. So, it's really hard. At least all the really good shows, at least like all the circus shows we've seen multiple times, all the other really good, you know, high review type shows we've already seen, too. So, it's getting more difficult to find things, but we just stay at a different hotel than we normally stay at. I mean, we always stay somewhere different. So, I meant to say we stayed at a new hotel that we haven't seen yet.
So that was kind of cool. We stayed at the aria, so that was definitely one of them on our list to to hit, you know, so we got to stay there and it was super nice. I was really impressed that really good restaurants had the best pool I've ever seen in Vegas. It was more like a resort in, you know, in like Mexico or something. It was it was really nice. So, I had a good time, but business was just getting going. And for the day we did hire a new well, we are hiring a new acquisition manager. We interviewed them yesterday, so hopefully we'll be onboarding them soon. But you know, we're in the growth phase always trying to you know, we're just keeping on hiring now. We're just going to keep hiring all positions until we find the right people that stick and that are qualified, willing to do the work and can ultimately bring the company revenue. That's the goal. Right? After all, we are house dealers. Without houses, you can't have any houses too. Deal. So that's the whole goal, making sure we get really good acquisition managers, good follow up specialists. And then obviously get our disposition game all set up as well, which we have a disposition manager, but we're going to add a follow specialist for the disposal side as well, just to make sure that we can always get these properties sold in a timely manner.
And so without a hitch, without holding on to them a long time, just so we can get them done fast because this entire game is speed, right? It speeds to get the lead. It's speed to get the contract because there's a lot of people trying to get them and then it speeds to sell that contract because we typically only have a certain amount of time to sell these deals. So obviously the faster we can sell it, the faster we can get paid as well. But also, that's the right thing to do for the seller is to get the property done quickly because after all, they are trading their equity for the time and convenience that we offer them. That's really the main reason that they're even accepting cash offers. So, keep that in mind when you're doing these, when you're doing these wholesale deals. So anyways, adding follow specialists for both, both of the core positions I think is going to be really good for us. A game changer hopefully, you know with without having to add another actual disposition manager potentially maybe just add in a follow up specialist to kind of support them just like we do for acquisitions. So, hopefully that'll go well. And again, looking for Vas to fill these types of roles as well. So, we do have a brand new VA acquisition manager that we interviewed yesterday that hopefully is starting soon, that we can hopefully train, you know, to be a really solid acquisition manager and they supposedly, you know, have really good.
Track record, prove it and sell skills, you know, and already experience, be an acquisition manager. So hopefully it goes well, but I'll keep you posted. Not all of them go well. But you know, I think it's just one more of a challenge when you're trying to do those roles in acquisitions, but we are giving it a shot and we're going to keep doing that. But in another note, we are we're contemplating on dropping TV. You know, now I fully believe in all marketing that you should give it at least a three month try right before you drop something. So, it's really hard because my operations manager is I mean, she fully believes that we should just drop it now and save the money because it's super expensive. But at the same time, you know, it's only been two months and I like to get things three months, but I also don't like to throw money in the trash. You know, we have gotten deals from and we've done well, we've gotten five, five, no, we've gotten six contracts from it. We started it March 28th. So that's basically in two, four months. We've gotten six contracts. We've only closed on one so far for 11 grands. It costs a lot more than 11 grand for those two months, plus the setup fee to get started with TV, plus the monthly fee that the agency requires.
So, we're not even close to paying that off. So, I do believe that we can make it work. But I don't I don't know for sure if it can actually give us the return that we're expecting because I typically like to ten x my investment, but I would be happy with like a bare minimum of 3 to 4 X probably. So that means if something costs 10,000, I need at least see 30 to 40000 a month from that. So far, we're not getting that. The contracts that we get, the deals, the leads that we get are all small towns. That's the downfall. We've never gotten a lead in the major metropolitan, even including the attached suburbs. Not one yet out of around 50 leads or so. So, the six deals are all smaller towns. We did get one closed. I'm pretty confident we're going to close maybe one or two other ones, but they're going to be deals that I have to take down myself, that we're not going to necessarily be able to wholesale, which is not ideal because our goal is to wholesale everything. It's less risk, it's faster. And we don't have to, you know, take it on ourselves, you know, as far as getting the money and holding costs and just the headache of all that, you know what I mean? Because I'm definitely not going to flip them.
I would just close on them to be able to just maybe clean them up a little bit, put them back on the MLRS, which is called a wholesale, your wholesaler for retail. But yeah, I know buyers are interested in these little towns. They also that's the difficult part of it. It's a lot of small town leads. So, I'm still contemplating most likely I'm going to give it the full three months because that's just what I believe in, in doing and giving a fair shot. Plus, that gives us another month to hopefully break even on the deal. At the worst case scenario, that's kind of the goal. But who knows, maybe it'll shock me because, you know, sometimes it takes a little while to gain traction on advertising, which is why I do give it three months. Minimum 3 to 6 is typically what I believe in. So, who knows, maybe it can actually start bringing us better leads to where we can turn that corner and actually start making decent money from it. So hopefully that's the goal and that'll happen because I really do want to keep it if it works, but if it's not working, I've got to kick it right. We only do things that actually bring us money, bring us returns. And I'm not talking, breaking even or doubling our investment. That's not really worth it because cold calling is killing it, which I think I did my last work Wednesday on that subject.
That's still the best lead source we've ever had, this particular company that we're using and I do have a link in the description if you're interested in checking that out, because it's definitely worth it. It's super expensive, but they can justify their costs because we're getting good deals from that. We've already closed at least two or three of those leads and we've got, I don't even know, at least five or six more of those in escrow right now and a ton of more that we're nurturing and that are getting closer. So that's definitely paying for itself and beyond. So, what I'm saying is I could potentially drop the TV if it's not working well and double up on that cold calling company, you know, because that's what's working. So, whether that's going into a different market with the cold calling or or just adding more counties or whatever, because I'm only cold calling the two counties, so I could add probably two more and you know, have double the success forever now. So anyways, contemplating that, it's always trials and error in this business. So that's why I'd like to share like what's working for me and what's not. You know, we spent a ton of money, you know, testing a lot of these things out. So that's why I know Shadow of a doubt what works or not.
Sorry, guys, I just had this thing fall on me, so I'm always looking at that. I'm looking at numbers all the time. That's the main thing that I do now. You know, since I have an operation manager, she pretty much handles the day to day for the most part. I'm still dealing with the marketing, obviously, and always just looking at numbers. You know, that's what this whole business is, is numbers. There's a lot of numbers that you've got to measure KPIs for everything, including marketing. So that's kind of where I'm at. I've got to pop this up, keep getting notifications on my on my iPad that I'm actually recording on right now. So anyways, that's really all. It's all mind. We are just actively searching for more people because we want to hire a couple of more acquisition managers, you know, add a photo specialist for dispo because we've got to wrap this up. That's the whole goal. We want to do more and more and more per month and have lots of consistent closings every single week, not just every single month. So that's where we're at. But anyways, hopefully you guys saw a little bit of value out of this. Other than that, maybe you just wanted to say what we're doing today. So nevertheless, please hit the thumbs up if you haven't already. Subscribe and I'll see you guys and the next one.
Hey, what's up, guys? My name is Graylan Stewart. Today is my work Wednesday blog day and just talking about my everyday life in business. So today it is Wednesday. What is today's date? June 1st. So, we just got back from Vegas trip, which was really fun. Just my wife and I, we haven't been on a trip with just me and her, only without meeting up with other people in close to a year now. So that's pretty rare for us. So, it was well needed, had a lot of fun, lost more money than I hope to, but at the same time I plan on losing money. That's part of the entertainment, in my opinion. As long as you have the money, you're not gambling your mortgage away or something crazy like that. So anyways, it was fun. We saw three different shows, had a good time, but it's really hard, you know, because we're actually we're it's hard for us to find shows to watch because we've pretty much seen everything. So, it's really hard. At least all the really good shows, at least like all the circus shows we've seen multiple times, all the other really good, you know, high review type shows we've already seen, too. So, it's getting more difficult to find things, but we just stay at a different hotel than we normally stay at. I mean, we always stay somewhere different. So, I meant to say we stayed at a new hotel that we haven't seen yet.
So that was kind of cool. We stayed at the aria, so that was definitely one of them on our list to to hit, you know, so we got to stay there and it was super nice. I was really impressed that really good restaurants had the best pool I've ever seen in Vegas. It was more like a resort in, you know, in like Mexico or something. It was it was really nice. So, I had a good time, but business was just getting going. And for the day we did hire a new well, we are hiring a new acquisition manager. We interviewed them yesterday, so hopefully we'll be onboarding them soon. But you know, we're in the growth phase always trying to you know, we're just keeping on hiring now. We're just going to keep hiring all positions until we find the right people that stick and that are qualified, willing to do the work and can ultimately bring the company revenue. That's the goal. Right? After all, we are house dealers. Without houses, you can't have any houses too. Deal. So that's the whole goal, making sure we get really good acquisition managers, good follow up specialists. And then obviously get our disposition game all set up as well, which we have a disposition manager, but we're going to add a follow specialist for the disposal side as well, just to make sure that we can always get these properties sold in a timely manner.
And so without a hitch, without holding on to them a long time, just so we can get them done fast because this entire game is speed, right? It speeds to get the lead. It's speed to get the contract because there's a lot of people trying to get them and then it speeds to sell that contract because we typically only have a certain amount of time to sell these deals. So obviously the faster we can sell it, the faster we can get paid as well. But also, that's the right thing to do for the seller is to get the property done quickly because after all, they are trading their equity for the time and convenience that we offer them. That's really the main reason that they're even accepting cash offers. So, keep that in mind when you're doing these, when you're doing these wholesale deals. So anyways, adding follow specialists for both, both of the core positions I think is going to be really good for us. A game changer hopefully, you know with without having to add another actual disposition manager potentially maybe just add in a follow up specialist to kind of support them just like we do for acquisitions. So, hopefully that'll go well. And again, looking for Vas to fill these types of roles as well. So, we do have a brand new VA acquisition manager that we interviewed yesterday that hopefully is starting soon, that we can hopefully train, you know, to be a really solid acquisition manager and they supposedly, you know, have really good.
Track record, prove it and sell skills, you know, and already experience, be an acquisition manager. So hopefully it goes well, but I'll keep you posted. Not all of them go well. But you know, I think it's just one more of a challenge when you're trying to do those roles in acquisitions, but we are giving it a shot and we're going to keep doing that. But in another note, we are we're contemplating on dropping TV. You know, now I fully believe in all marketing that you should give it at least a three month try right before you drop something. So, it's really hard because my operations manager is I mean, she fully believes that we should just drop it now and save the money because it's super expensive. But at the same time, you know, it's only been two months and I like to get things three months, but I also don't like to throw money in the trash. You know, we have gotten deals from and we've done well, we've gotten five, five, no, we've gotten six contracts from it. We started it March 28th. So that's basically in two, four months. We've gotten six contracts. We've only closed on one so far for 11 grands. It costs a lot more than 11 grand for those two months, plus the setup fee to get started with TV, plus the monthly fee that the agency requires.
So, we're not even close to paying that off. So, I do believe that we can make it work. But I don't I don't know for sure if it can actually give us the return that we're expecting because I typically like to ten x my investment, but I would be happy with like a bare minimum of 3 to 4 X probably. So that means if something costs 10,000, I need at least see 30 to 40000 a month from that. So far, we're not getting that. The contracts that we get, the deals, the leads that we get are all small towns. That's the downfall. We've never gotten a lead in the major metropolitan, even including the attached suburbs. Not one yet out of around 50 leads or so. So, the six deals are all smaller towns. We did get one closed. I'm pretty confident we're going to close maybe one or two other ones, but they're going to be deals that I have to take down myself, that we're not going to necessarily be able to wholesale, which is not ideal because our goal is to wholesale everything. It's less risk, it's faster. And we don't have to, you know, take it on ourselves, you know, as far as getting the money and holding costs and just the headache of all that, you know what I mean? Because I'm definitely not going to flip them.
I would just close on them to be able to just maybe clean them up a little bit, put them back on the MLRS, which is called a wholesale, your wholesaler for retail. But yeah, I know buyers are interested in these little towns. They also that's the difficult part of it. It's a lot of small town leads. So, I'm still contemplating most likely I'm going to give it the full three months because that's just what I believe in, in doing and giving a fair shot. Plus, that gives us another month to hopefully break even on the deal. At the worst case scenario, that's kind of the goal. But who knows, maybe it'll shock me because, you know, sometimes it takes a little while to gain traction on advertising, which is why I do give it three months. Minimum 3 to 6 is typically what I believe in. So, who knows, maybe it can actually start bringing us better leads to where we can turn that corner and actually start making decent money from it. So hopefully that's the goal and that'll happen because I really do want to keep it if it works, but if it's not working, I've got to kick it right. We only do things that actually bring us money, bring us returns. And I'm not talking, breaking even or doubling our investment. That's not really worth it because cold calling is killing it, which I think I did my last work Wednesday on that subject.
That's still the best lead source we've ever had, this particular company that we're using and I do have a link in the description if you're interested in checking that out, because it's definitely worth it. It's super expensive, but they can justify their costs because we're getting good deals from that. We've already closed at least two or three of those leads and we've got, I don't even know, at least five or six more of those in escrow right now and a ton of more that we're nurturing and that are getting closer. So that's definitely paying for itself and beyond. So, what I'm saying is I could potentially drop the TV if it's not working well and double up on that cold calling company, you know, because that's what's working. So, whether that's going into a different market with the cold calling or or just adding more counties or whatever, because I'm only cold calling the two counties, so I could add probably two more and you know, have double the success forever now. So anyways, contemplating that, it's always trials and error in this business. So that's why I'd like to share like what's working for me and what's not. You know, we spent a ton of money, you know, testing a lot of these things out. So that's why I know Shadow of a doubt what works or not.
Sorry, guys, I just had this thing fall on me, so I'm always looking at that. I'm looking at numbers all the time. That's the main thing that I do now. You know, since I have an operation manager, she pretty much handles the day to day for the most part. I'm still dealing with the marketing, obviously, and always just looking at numbers. You know, that's what this whole business is, is numbers. There's a lot of numbers that you've got to measure KPIs for everything, including marketing. So that's kind of where I'm at. I've got to pop this up, keep getting notifications on my on my iPad that I'm actually recording on right now. So anyways, that's really all. It's all mind. We are just actively searching for more people because we want to hire a couple of more acquisition managers, you know, add a photo specialist for dispo because we've got to wrap this up. That's the whole goal. We want to do more and more and more per month and have lots of consistent closings every single week, not just every single month. So that's where we're at. But anyways, hopefully you guys saw a little bit of value out of this. Other than that, maybe you just wanted to say what we're doing today. So nevertheless, please hit the thumbs up if you haven't already. Subscribe and I'll see you guys and the next one.