Over 17x Return! | Wholesaling Real Estate
March 18, 2022
So what if you could get 17 X. Return on your marketing dollars that you spend?
Would you do it? Yeah I would too.
So I actually did, I'm gonna teach you and show you exactly what I did. So stay tuned.
Hey what's up guys?
My name is Gray Lynn Stewart. Thanks for joining me. I am a virtual whole seller.
If you're new to my channel thank you please like and subscribe if you haven't already. I'd appreciate it.
So my channel is all about wholesaling real estate but we do everything that an investor in real estate, you know an investor would typically do in the real estate space.
So mostly what we do is wholesaling but we also buy and hold for long term wealth and we do occasional flicks and flip properties as well.
Usually a couple of them at a time two or three of them typically.
So today I'm gonna share with you a strategy.
You know this was based on my 2021 numbers for the entire year I added up what I actually spent on this marketing channel compared to what we brought back in revenue and profits.
Okay so when I say profits, I'm talking about just the total assignment fee.
Okay Um now my last year's assignment fee average was right around $20,000 per deal.
So um you know those deals can add up fast but this one particular marketing strategy which may not surprise a lot of you is cold calling.
So most people probably already cold call if you're in this space at all.
And if you're new to hold selling, then this will maybe enlighten you. So cold calling is very effective.
But you have to do it right. Um, otherwise it may not be as effective.
And I don't necessarily think that my company did it All right either.
And we still had a 17 x return.
So the reason I say that, I don't think we did it all right either is simply because there's definitely better ways to do it.
Okay. So what I did, uh, you know, early on, I started about 3.5 years ago.
So early on when I hired a V. A to do cold calling for me, we pretty much, um, kind of just assumed that they knew what they were doing or I pretty much assumed, okay.
When I say we, I mean we as a company meaning me right?
Because at first it was just me, you know, starting out. So I hired a V. A.
They already had co calling experience. They had worked for a real estate investor before the whole seller.
So I assume that, hey, they know what they're doing already.
They've already done this before and they kind of have a proven track record, so to speak, right?
Obviously I didn't vet them, which is kind of hard when you, you know, they're in the Philippines and you're hiring, um, and they've worked for somebody else in the US.
There's, you know, probably thousands of wholesalers out there could have been anybody right?
So the bottom line is I trusted that they kind of knew what I wanted and what they were doing, right.
And that's never the case typically. Right.
So that's the thing you gotta learn when you're hiring VHS or any cold call or whether you're in house american, you know, that's the next door or in your actual office or if you're just hiring a V. A from another country, okay.
They have no idea what to do right.
They have done cold calling before and they might have experience, but at the same time every business runs differently and everybody does cold calling differently.
Okay. So that's why I always suggest on my channel everything that you do in your business when you're starting off, I believe that you should do it yourself first whether you're good at that or not.
Okay. You may not be the best sales person in the world, but it's important for you to get on the phone with sellers and actually talk to sellers and just learn and know what that process looks like.
Even if you're not a good closer, um, or you know, whatever the part of the business is that you may or may not be good at.
I still believe that you should do it so that you have first hand experience for one, but for two, so you know exactly what is kind of expected.
But for three, you know exactly what that position goes through, you know, during that whole task or duty that that's set up for them.
So it's important that you know that that way you are able to teach somebody else. Okay?
So when I first got started, yes, I had done cold calling in the past for marketing and sales, you know for like yellow pages and and for my magazines and things like that.
So I had done some cold calling for that before. But cold calling for sellers is completely different, right?
Because you're not really selling anything per se.
You're really selling yourself and selling your ability and and the confidence in you and your company to close on the deal because when you ask a seller if they want to sell and you're gonna pay cash, you have to have confidence to be able to portray that.
So they trust you to do a contract with you, right?
So if you don't have that kind of ver bid and persona and you know, vocalization, how can you expect a cold caller to be able to do that just because they have experience, right?
So that's where I failed initially when I hired cold callers because I just assumed they knew what they were doing and it was a total waste of money, right?
I mean, I did that probably off and on for almost a year before I finally figured out, okay, I actually have to train these people right there humans and they're people just like me and you and they have to be trained and to know exactly how you want things done.
Okay. So that was where I failed. Okay. So fast forward a couple years later I learned, right.
So now I actually have a co calling manager and yes, they are still from the Philippines and then I have three or four other cold callers That all they do is co call every day.
So what we do in my businesses, co call from eight a.m.
2 8 pm, pretty much Um six days a week, Monday through Saturday.
So, and we take Sundays off for a cold calling, but I don't think there's anything wrong with that you could do like a 1-6 or something like that if you wanted to.
I think that's totally fine. I would definitely stay away from during, during like church hours and things like that, especially if you're in the midwest or you know, the bible belt or anything like that.
But but me personally, you know, we just, we just don't do that just because we choose not to.
But like I said, I don't see anything wrong with it.
But nevertheless, so I have a cold calling manager basically, I'm the only one that she talks to you or that I talked to.
She's the only one that I talked to you, right?
She's the one that hires all my other co collars and manages them to make sure that they're doing their jobs correctly okay.
But she also co calls herself too so she gets a little bit more of an hourly wage and the others but at the same time I'm not managing a whole team of coke holders and managing that one person.
So I still say that I don't have it all figured out because that's still definitely not the best way because it still is the fact that Filipinos you know they're amazing.
Most of them have you know at least a bachelor's degree. Most of them have masters though.
Um So they're super smart people that definitely appreciate them. They're really hard workers.
That's what I really love about them the most they will do anything for you and to complete the task at hand.
And that's why I love working with the filipino.
Um people you know they're always hard workers and they're super smart and they're fast learners and they're gonna do what what what you ask them to do.
Um It's it's hard to say that about the average american out there.
I mean look at where we're at in today's society, half of the restaurants are half full because there's nobody to work there right?
At least that's how it is where I live. So anyways, Filipinos are hard workers.
So but the only thing that's hard that you can't really teach is our culture okay.
So there's things like um even the roofs, you know they're just different where we live compared to the routes that they have in the Philippines.
You know they they're just different types of roofs and and they don't know that unless you teach them that and train them on that.
Right? So things like that yes you can train and learn but the things culture wise you just can't train.
Um So that's the hard part unless they've lived in the US before.
Like I had a cold caller in the past that they actually live in the US for like three years so they understood our culture and our, or just the way we talk to each other like when somebody's joking or not just little things like that that you and I would probably take for granted for the most part but at the same time it's those little things like that to where when you're talking to somebody over the phone, especially in like a sales type of a role.
Um it's it's easy to understand that somebody may not get it all the way, you know what I mean?
You could tell that there possibly foreign or probably foreign because they just don't get it right there just talking differently and they don't understand maybe the little inside jokes that you might try to say or you know just little things like that.
It's hard to teach. So there's definitely better ways to do cold calling but at the same time You can just stumble through it like I've done and be successful at it because we did a 17 x return.
I mean that's huge. That was our it was our number two or 3 overall marketing, you know best marketing strategy of 2021 but it was the best R. O. Y.
As far as what we're spending for what we're getting back.
So when you think about it like that It's easy to do right?
You can cold call yourself, you know if you know that you're gonna get a 17x.
And keep in mind these are Filipinos doing it.
If you do it yourself, you're always going to do it better because you know how things are done right?
You know how you want it, you're always gonna work harder on your own business than anyone else will.
That's just a fact, right? So if you did it yourself even for an hour or two a day don't you think that would be worth it?
You know, just until you kind of start bringing some money in Because Cold Calling works all I mean there's a lot of people out there that kind of don't like it or don't do it.
But you know, we do every marketing strategy.
So I I definitely consider myself an expert on marketing in general because I've done marketing my entire adult life and for my business, my whole selling business, we literally do every single strategy out there, right?
And cold calling was our number 2 or 3 marketing strategy last year.
But it was the number one ROI. So literally a 17 x return.
That means if you spent $1, you made 17 or if you spent $10,000 times 17 is What is that?
170,000 or something? I mean I'm no math whiz.
Um even though that's zeros But you can do the math and you get the picture.
So whatever you spend multiplied by 17. And that's my return. Right? So it's crazy to think about that.
And it's even crazier to think about if you actually hired like in health people or if you did it yourself or if you actually hired a more of a US base or somebody more culturally sound in the US understanding of that kind of thing.
You could even get a probably a bigger return than that.
So that's exactly why I'm actually hiring the company out of Costa rica but it's owned by an american and it's got a lot of uh you know, really good speaking people that they understand the culture a lot better than like a filipino would because it's just a Philippine.
The Philippines is it's basically a third world country. So it's just a lot different than United States.
So anyways the whole point of this video is to let you know that you know co calling can actually be free, right?
Because you can do it yourself or you can get your brother sister mother whoever your friend to partner with you in the cold call with you.
Right? Because it actually works. All you gotta do is get a list of motivated sellers.
You can buy those lists from list source or you can get them from prop stream you know um or you can just get a free list from your county that's tax delinquent or some water shut off or you know all kinds of different lists.
You can actually get from accounting and direct to the source which is your county. It's always the best.
But then you get that list skip trace it meaning you look for the phone numbers.
There's companies out there that do that where you can do like free people search dot com or there's a lot of things that are similar to that being verified.
Dot com is a super low you know a couple of dollars a month type of deal.
And there's white pages dot com which is actually pretty good as well.
So there's a lot of ways so there's no real excuses.
Okay you can get a list for free or next to nothing.
You can drive for dollars and get a list.
You can skip trace it for free if you want to do it one by one or it's next to nothing.
If you actually want to pay for it then get on the phone that's it.
You're dialing for dollars, literally If you know that you're gonna spend a dollar and get 17 back, why wouldn't you do that for a couple of hours a day?
Right. So that's my two cents, y'all?
But there's definitely better ways to do it and you can grow into those, you know, that's why I suggest doing it yourself.
Then you can hire people just make sure that you train them regularly, okay?
And then eventually, maybe you can just hire a company that's really versed in the space to do that for you.
So anyways, that's all I got for you today. Thanks for joining.
I appreciate you very much like share and subscribe and I'll see you all next time.