Interview with Ivo Draginovic

13 Sep Interview with Ivo Draginovic

Ivo shares how he’s flipped over 200 houses and consistently wholesales 8-10 houses per month.

Video Replay of Interview with Ivo Draginovic

Podcast Replay of Interview with Ivo Draginovic

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00:00 Hey everybody, thank you for joining us for today’s episode of real estate disruptors. I say, well, we got Ivo Draginov. Am I saying that right? Correct. With higher offer and he’s here to share how he’s flipped over 200 houses and wholesale is eight to 10 houses per month. If this is your first time tuning in, I’m Steve Trang, broker, owner of Stunning Homes Realty, Cofounder of the offer fast app, the one app you need for wholesaling. And I help people become real estate entrepreneurs. Very excited for today’s show. Please give me a wave, give me a thumbs up. And before we get started, I just started the show because I wanted to give back to our community. Uh, I’ve had a lot of struggle when I first started. I’m sure you faced some struggles when you started. And what we want to do is shortcut that struggle for as many young leaders as possible.

00:43 I don’t charge a dime for this show. I don’t make any money doing this. So here’s all I ask. This is what it costs you to listen to the show. If you get value out of this show, please tell a friend. Either share the episode now, tag a friend below, or tell them your best. Take away from the show, take away from this show later on. That way we can all grow together. Don’t forget, this is a live show. Please don’t hesitate to ask questions throughout and evil will be happy to answer them for you reading it. Yep. Okay. So first question, what got you into

01:15 real estate? So, good question. So my real estate Jordan started in 2007. I got my real estate license a red before, before finishing high school. Um, wow. I fixed and flipped my first house. I with a buddy of mine that was 2008 in April. I think we bought it. We, uh, literally did the work ourselves on the house. We borrowed some money from my parents, sold it for four months later and the netting 26,000 I believe, split of the profits. And then I bought my second house by myself, but that one for like 43,000, that’s when the market basically corrected, right. Sold it on 31st of December I ended up getting about 17, $18,000 and from then on I just started picking up more and more properties, um, the way. So I’ve been basically fixing and flipping mostly part time from 2008 up until 2015.

02:18 Um, 2015. I bought a property in July from a local, very well known wholesaler. And the funny thing is I noticed on the settlement statement there’s two assignment fees. So I’m like, what is this? I’m calling the title company and they’re like, well they’re technically buying a house for this much for this much. So I kind of. So they’re making like there’s 15,000, 15,000 Simon fees and I’m buying it for let’s say one slash 20. I think it was what you got me thinking, you know. So I mean I, I ended up selling the house. I made about 20 plus thousand dollars on it. Uh, but it took me five months to renovate it and ESL and we had a deal fall through. So you got another offer. So it took a long time. I’m a little bit after that, I started listening to a lot of podcasts, bigger pockets.

03:05 I’m one of the podcasts that I started listening to him I think in June, June, July of 2000. Then that’s 2016 was Sean Terry. Yeah. Flipped the freedom. So I started listening to him and funny thing is he had an event coming up in Glendale extreme freedom. Great events. Yeah. Awesome. So I’m like, oh, I’ll just go check it out. 300 bucks. I can’t lose anything. So I brought my sister Annie, um, to the event and uh, it sounded like just super easy. You know, you buy a list, you mail it, you take the phone call and get the deal, resell it. So you have to do all you have to do. So, you know, I did that first thing, like after the event, I literally posted it on craigslist, you know, we buy houses. I got a call literally the next day, or really a guy. I mean he’s super motivated.

03:53 Hey, I just got out of prison. I am, I need to sell this house. I’m a great each of the house. I meet him there, we signed the contract and I’m thinking this is like a 70, $80,000 profit from. It was a super easy. There are no reservations. He just got out of prison. Yeah. Okay. So we open escrow. It was like a lot of title issues with this property. It was like my first property, my first basically wholesale type of deal. So it was just a lot of title issues. He assigned it to a brother, to a wife. They divorced, they just the mess. Yeah. So long story short, couldn’t get the deal closed, we had to cancel on it, but then obviously when we started doing direct mail and it was like our first marketing source or doing direct mail and then slowly we got into other types of marketing and our cold calling and cold calling just recently we got into it.

04:40 So, um, but at the moment, I mean that’s kind of just in a nutshell, that’s my real estate fixing, flipping and wholesale journey. And then I’ve also been picking up some rental properties along the way. Okay. So one question I asked you, because you know, you have a lot of trap, you’ve done over 200 houses flipping and right now your wholesale eight to 10 houses per month. So why don’t you help someone that’s newer to the business, if they’re trying to decide whether the flip or wholesale first, what would you or would you, which do you like better, which you wish to actually can push people into? Um, I mean at the moment I’ll, I’ll save wholesale just because it’s easier, but I’m in. So my business right now is primarily wholesaling and Bartlett, like last year it was a different case this year, like July we sold their last to fix the flips and I, you know, I don’t have any more besides some new constructions that we’re doing.

05:30 Um, it’s just the market, especially in Phoenix is just stuff. Yeah, I mean I’m making the same amount if not more than if I were to just fix and flip the property. All right. So, um, my first choice would be wholesaling, but it’s got its own challenges as well, obviously. So what their challenges in Wholesale Lange versus the challenges of flipping and wholesaling. You’re in the marketing business at the end of the day. Yeah. No, and I didn’t know that the extreme freedom event, I was thinking it’s just an extension of what already doing. It’s just I’m going to pick it up for cheaper. I’m going to get a bigger spread at the end, but it’s just two completely separate businesses what I’ve learned along the way. Right. And uh, you know, kind of the things that we’ve struggled with, um, kind of throughout is how much of my time did the way dedicated to fixing and flipping and wholesaling and it’s a fine balance that, you know, we’ve got to keep.

06:19 But at the end of the day I would just recommend wholesaling. I mean, especially in this market. Yeah. Well it’s a little bit too risky. You say, especially this market, what do you mean about, especially this market, what does that mean? You know, obviously prices are skyrocketing and inventory’s low and just, um, you know, we get a deal, we wholesale it and sometimes, you know, we get first night flippers. I try to educate them as much as I can. Yeah. But the reality is a lot of our buyers are first time fix and flippers and um, so you’re saying that the reason why you saying that in particularly in this market is that, um, the, the margins are low, margins are lower and it’s a, you’re not 100 percent confident that it’s going to keep appreciating the rates that appreciating it. It appreciation heights, a lot of mistakes. Correct.

07:07 Absolutely. And I just think it’s just the way it’s just riskier at this point in time. I mean the, if the market corrects and I’m holding onto 11 fix and flips in December of last year, we had to live on properties on the books fix and flips, you know, we’re reselling and I mean obviously I don’t see the market correcting your next couple of months, but when it does, I’d rather be wholesaling. Right? Yeah. Okay. Uh, so, um, we got a good friend of ours and he says, you’re like a robot. You just find ways to make things happen. And I thought that was kind of funny and we talked about, you and I are at a different event that you’ve got so many licenses. What are all the different licenses you have? Yeah. So the reason why I was like kind of working part time in real estate in 2010 to 2015, uh, it was my dad’s construction company.

08:00 It was an air conditioning plumbing company. We kind of morphed it into like a general contracting company as well. Uh, so we have know electrical, plumbing, AC, both residential and commercial, and to Kby kb one and kb two, which are general contracting licenses. Yeah. So if I said if anything comes up, if I call it evo he could probably probably thought maybe I’ll give you good advice on how to fix it. Yeah. Okay. Uh, so knowing what you know today, what will you do differently in your business as far as the wholesaling goals? I will find a mentor before, I mean especially getting started and I actually did that in the wholesaling. So like my second year I found a mentor. It just, it wasn’t the right guy. Okay. It just, you know, I paid them the money, you know, when we talked on the phone and just the value that I didn’t get any value out of him, quite honestly the wrong person.

08:56 So not just finding the mentor, finding the, finding the right mentor. Yeah. Okay. And I think that mentor has to give you a certain value. I mean, he’s got to give you value at the end of the day. Um, and then obviously the other advice would be just burning your bridges behind you, um, because, you know, options can kill anything that you’re doing. So for me, you know, I was, I had passive income in real estate even at the extreme freedom event, but I told myself I’m going to make this work if this guy, Sean theories making it work, I’ll make it work as well. It’s just a matter of time. I’m, I may not pick up traction as let’s say taking a certain amount of time to pick up traction, but I’ll make it work. Yeah. So I told myself there’s no way behind. I mean, there’s no way going back.

09:38 So. Okay. Um, so thank you. Said something I wanted to address. Um, okay. We’ll get to a later. So what bits of wisdom would you give some of the young guys right now that are getting into wholesale in case, you know, we’re, we’re pulling back the curtains a little bit. That’s one of the goals of the program is to educate the young people and how to do it or not necessarily young but newer people. What are some of the bits of wisdom you would give to the guys getting into the business right now? I think it goes back to just finding, finding the right mentor, joining a mastermind, which is a huge. I mean, the women that we’re in, I mean, is opened up so many doors for me personally. Uh, just the connections that I’ve made it to just. It’s priceless. Yeah. Um, and then like I said, just burning your bridges, you know, so yeah.

10:28 So going back to that, you were saying that uh, the mentor wasn’t the right metric. How did you know they weren’t the right mentor so that someone could avoid that mistake? I mean, it’s tough. You got to do your homework and I think you’ve got to just me personally, I have, so it’s one of my faults where I just, I literally decided to do something and then like I’m, I’m doing it in the next hour. So that was kind of fault. It’s, it’s a, it’s a personality trait of an entrepreneur. Correct. Yeah. So, um, I didn’t do my homework on it at the end of the day. Yeah. I just literally, it was just a phone call. I’m doing it. That’s it. So you just signed up? Correct. Okay. And uh, and the value you got out of it was, didn’t line up with what you paid for it? Correct. And would you say that the contract or was it, it was a one time fee basically for the whole year.

11:17 I mean. Okay. So like I said, I mean I’ve learned so much, so much more just hanging out with a group of guys like in the go-giver group. Right. I’m just getting much more value and. Okay. Yeah. And I think there’s a lot of value to that and I think maybe that’s something we need to create a program for is like what some questions to ask and entering it. I’m seeing this theme, you know, a lot of people saying they’re having a hard time finding the right mentor. Uh, what would you attribute your success to? I think my work ethic primarily, and I picked that up from my dad.

11:50 I mean, I think like what Gary v says, you know, I mean I’ll get the, let’s say the brightest or the smartest, but I will outwork everybody and I think that’s kind of served me well in life and I’m up at 5:00 every morning. I make myself get up regardless of what time I went to sleep. And um, it just, I just have a much better productive day if I get my work done in the morning and just how I’ve always been. So if I need anything from you, I can text you at 5:00 anymore. You can. Okay. Yeah. Uh, so maybe this is what Brian was talking about. When you say you’re a robot, if you want to make, if you want something, you just make it a. okay. And what does your organization look like today at higher offer? So it’s me, my sister who is the operations, she kind of keeps everything together because I’m kind of all over the place.

12:35 Quick decision maker. I’m the decision maker. Correct. So she has to slow me down at times. Um, and then we have, right now we have two acquisitions. So leads manager, uh, we have eight cold colors and then two virtual assistants. And the cold callers, are they local? Are they overseas? Overseas. And they have a disposition person as well. Okay. Um, so is there a particular region you liked to source your wholesale, your cold callers from? Um, we’ve tried the, I have some from the Philippines, some from Costa Rica and a couple from Mexico. Yeah. So I’m kind of just, almost to split this thing. Something’s right now. So just figuring out what works better for me. You know, at the, at the end of the day, what’s my Roi on the money that I spend, the money that I get back. And you got kpis for each one of these.

13:21 Correct. Kolkata, yeah. Yeah. One of the things that Max and I were talking about is we need to get a quality control person because we have cold callers, but we’re not listening to all the cold calls and it’s kind of stuff. I mean, you can’t listen to it. I don’t know. That’s not my day job. So we’ll just listen to everybody’s conversation. Yeah. But you’ve picked out some conversations and do the best you can. Yeah. Right. Okay. And um, how are you sourcing your deals right now? I’m direct mail has always worked for us. I mean people say obviously price, you know, cost per deal has gone up drastically. Um, I think when we started we were about, I don’t want to say maybe 2,500, 3000 now, uh, last month we were at about 5,400. We’d lowered it down to 4,800, close some deals. So cost per cost per deal, cost per deal, 48, 4,800 4,800 correct.

14:14 Direct mail. So, and that’s probably about 25 to 30 percent of our deals. Um, you know, we use familiar about 30,000 plus mailers a month, now we’re down to about 15,000 a month. Okay. And it’s just, we’re just, what we’re doing is just started getting people better lists, decking obviously. And I’ve heard they have multiple pain points. Those are the people that we’re going after. Cold calling has been like a big thing. And obviously Brenda Daniels is a ttp. Yeah. Um, I was going, I was basically getting into cold calling and then they skip. Brent kind of pushed me over the edge. Yeah. Um, and that’s been like a big contributor to our deals, especially the past couple months. I think we struggled a little bit. I’m gaining traction with the cold calling side because we, we had some acquisition, acquisition, people’s change job positions and we didn’t have the right people in the right seats, uh, beginning of the year.

15:14 And we’ve made some obviously progress and the past four months has been working great. Okay. So I think one of the things you kind of mentioned there was stalking as an interesting concept. Can you elaborate with stacking means? Yeah. So I mean, one of the software we’re using our property list manager, which just gives us the ability to upload any kind of data, any kind of list in there. Uh, so I go and select, okay, so I want everybody who was on tax for tax plus foreclosures, plus it’s a vacant property. I mean, you can go like very granular. I mean, for instance, like I’ll take three days ago I pulled the list. I have about 700,000, 800,000 people in Phoenix area. Um, we pulled the list. So all the vacant properties and basically deceased people that are deceased with vacant properties. It’s about 200 of them in my system.

16:03 So very targeted. That’s a very targeted list, correct? Yeah. I had my son, I was talking to my best friend over the weekend and you were saying like, why do I keep getting these freaking cold callers? I’m getting a call every other day, I’m getting text messages, ringless voicemails. He doesn’t call it green’s voice and it’s like, I’m getting this deeper voicemails. Right. And he was like, why is this happening? And I kind of started laughing. I was like, okay, well you move that estate. So you’re in California and you have high equity. You paid your house off. Yeah. So now you’re a high equity out of state cop with his exes or uh, so he did miss a payment and so now he can’t even get off that list. He’s like, what do I do to get out of that list? Like, sorry, your urinalysis forever, for the next year at least.

16:45 Okay. So Rei squat. What uh, what is that about? Yeah. So we partnered up with uh, so me and Jessie borough partnered up and we’re basically providing realistic, like resource, especially for people that are in the industry, like new in the industry or they’ve been the industry for awhile. Just a resource company. We’re going to have a bunch of is coming out. Uh, and that’s primarily been my, what I’ve been kind of focused on the past month, just really building out softwares. Yeah. Um, which is like three months ago I wouldn’t have predicted the, you know, what I’m doing today. Yeah. But uh, it is what it is. So it’s um, we have some software is coming out, you know, for voicemails and SMS and we do a lot of skip tracing for people. So, um, and I think we can compete with people in price just because we’re committing to like very large volumes with our distributors.

17:44 Yeah. Okay. Um, and if they want to find out more about rei squad, how did they find out about the squad? The website should be up in about a week. Okay. So when you download this episode next week, growing today or esquire.com, are you guys cool with that? Okay. Uh, and then I heard something interesting about how you’re acquiring rental properties. So what’s your process for that? Uh, you know, bigger pockets taught me how to do it. It was like 2000 actually. I picked up some properties, 2012, paid them cash prices is richie begged him. I picked up a lot of them. Fifty five to 65,000. Wow. So and in 2015, 16 when I started listening to like bigger pockets, I’m like okay, so I can take me to refinance all of these properties, get my equity out and buy more properties and just keep doing that and repeating it.

18:34 It was what they call the bar method. So I started doing that. So 2015, I believe it was. Yeah. Two Thousand 15. I refinanced my properties, three of them. The fourth one I kept. It was a commercial building that I had, so I couldn’t refinance that one. Buying everything. Correct. And they just started. I bought 11 properties I think in 2015. And then this year I bought four or five more. Okay. So this year? Yeah. Nice. Yeah. So a couple of them were out of state. Okay. So one in Cleveland, one in two in Denver, not Denver. Detroit. Okay. A little bit different. Yeah. And then I have one that I’m refinancing as we speak right now, and then we’re doing a little bit of like, you know, kind of besides the rental properties, we’re doing a little bit of like new construction type of thing. So we’ve built for three houses.

19:23 We just bought her a vacant lot. A we could have wholesaled it honestly made I think eight, $9,000, small spread. Uh, but we just decided to keep it then build on on it and I think it’s gonna will make a lot more, you know, building your brand new house. So let’s talk about that. So what’s involved, I mean obviously it’s great that you got all these different licenses, right? But let’s just say I’m brand new and I want to build on a piece of a piece of land. What’s involved in that? It’s a lot of things at the same time, you know, I’m still learning a lot of it. They know I’ve gone through like three houses by now, so I can cut through a lot of the red tape. But I would say for biggest lesson I learned don’t go to the city of yourself to get the licenses because I’ve done that and I’ve been there like literally, I mean maybe 15, 20 times just for one house and it’s an idea.

20:18 So just to get an architect, just pay for it and get your license, get your permits. Um, as far as the construction side, I’m basically the general contractor, a high license. I just hire subcontractors to do the majority of work and we’ve had some people that are actually that have worked for us from the fix and flip side that actually they work on an hourly basis. We pay them at the end of the week, a 10, 99, but they work strictly for us. And obviously that helps us with our costs a little bit. Yeah. So you buy the land, then you get an architect and I’m assuming their sewer and electrical at the street level on the. Depends which lot you buy. So like one of my nightmares, it’s kind of like one, the, one of the biggest issues that I’ve had is we bought a vacant lot. Um, we bought it from a guy, he had a power of attorney for his mom and his mom was like, in her late eighties, nineties.

21:16 We ended up splitting the law to doing a lot split. It wasn’t approved by the city, but the city said everything is in the process of getting approved is going to take about two, three months, but everything is signed. So we’re like, okay, we’ll just buy it. We bought the vacant lot with, with the contingency that it’s going to get split. Long Story Short, I’m four months later, the city comes back and says one document was signed but it was supposed to be notarized and we go back to the original owner and the mom, the mom has passed away. The guy’s power of attorney is no longer valid. So when I was asked to go to probate, oh, so that took like a huge amount of time. We got the deputy city deputy deputy directors involved and it was just a nightmare of dealing with um, so for that house we had to literally do, you know, tear out half the street, put new sewers, new water lines, and then basically repave half the street, about 300 linear feet and do a sidewalk curb and gutter, which was something that I haven’t done before and probably add a little bit to the cost in the last 60,000, 60,000.

22:21 Yeah. Oh my goodness. Okay. And then you get a lender in place then to fund the acquisition of the land acquisition costs dealing with the city construction cost was for the lender we paid ourselves at the moment. I mean we’re kind of, um, we fund the properties ourselves. Same like we’ve actually started doing a little bit hard money loans and some properties that we wholesale we provide the funds. So you’re in hard money lending now. We’ve done a few loans. Uh, but like I said, not anything, just properties that we wholesale. Okay. Um, all right. And what tools or systems could you not live without?

23:06 We’ve been going back and forth, we’ve changed a couple of crms since we’ve started a system that we currently use is I invest, repeal a property list manager is a big one. Those are the two primary ones that we’re using. So as far as marketing about property list manager, uh, and I mentioned that earlier, like lists stacking, so I will basically upload everything and I’d pick okay with everybody who’s on multiple lists and those are people that we’re going to be targeting. And I think that’s what kind of um, propel it. Just kind of revamped our direct mail campaigns because like in the beginning of the year, January, February, we were mailing literally 20 slash 25, 30,000 I think February we had no deals from direct mail. So like March I’m like okay, something’s got to change. That’s when we started cold calling. It took a couple of months for us to Kinda, you know.

23:58 Perfect that. Yeah. And what’s investor appeal or what’d, what’d you call that investor Po as a crm that we use podio based system. Okay. So just the crm as different than invest refuse or a saint. I mean, a lot of the functionalities are the same. Yeah, it’s just, that’s what we use at the moment. Okay. Uh, any interesting war stories and I think the biggest one honestly is the. I mean we’ve had, I’ve walked personally into a bunch of houses were, you know, I thought were vacant, especially like back in the day when I used to buy out more auction properties. So you know, how slugs vacant tall weeds boarded up windows. So I’m like, okay, I’ll just go and see it now before I bid on it and people show up from inside the house, which can be scary at times. Coming out of the closets are coming out of the bedrooms and yeah know I remember one guy, he’s like, Hey, what are you doing in my house?

24:48 So it was, it was, I was out of there. Okay. Well the good thing is, is probably a statute limits on a statue of limitations on I’m breaking entering. But one of the biggest horror stories obviously is that the new vacant lot that we, we build and uh, but everything ended up turning great. They just took a year and a half quite honestly. Wow. Yeah. I was supposed to take six to eight months. It took a year and a half. Okay. Um, what is your biggest struggle right now? I think my biggest struggle is finding a balance sometimes and disconnecting from work personally. I mean that’s just my kind of thing because I’m always like working, working, working in. Sometimes it gets difficult to disconnect and. Yeah. Well I think that goes back to your, your strength, right? So it’s, it’s, it’s your, your, your strength and your weakness. So yeah. So work life balance. Yeah, that’s probably one of the biggest thing that I’m trying to work on. Something that I’ve really implemented lately is just kind of time blocking, which has worked great for me. Um, especially kind of getting in the routine and I wake up 5:00, walk the dog and then I get to work pretty much and some gratitude to get to work and they’re just focused on what my one thing for the day or one thing at least for the next three, four hours. Right.

26:06 One thing I, I had coffee with Gavin Timms this week. Okay. And he sits down, he’s got two phones again. What’s this about? He said, I got my work phone, I got my personal phone and he says, because he’s got his work phone and personal phone. It’s easier to disconnect because one of his work phone, once it gets home, that just gets put away. First of all, just the idea. Yeah. Yeah. I thought that was really a good idea. Um, I got to call Gavin. Actually he called me yesterday, but I thought that was a pretty cool idea. Maybe something I got to practice. He said the only struggle with that is sometimes you get stuck on facebook with his personal thought. Okay. What is your superpower? I think just honestly just cutting through the red tape and getting the deal done. I think that’s kind of what I’m just, just tell me what I gotta do and you know, let’s get this deal finished.

26:55 Alright. Um, same thing though, the first house that I mentioned that was supposed to end up needing us like 70,000, 80,000, I think it was. Um, I didn’t follow up on it myself because to title companies told us it was just, can, we can make it work. There’s just too many. There’s some lawsuits involved, some with the property just can’t get to them. Long story short, a year later, a guy here from Phoenix, so wholesale company contacts us and he’s like, hey, you guys have a memorandum on this property from a year ago. And we’re in the process of closing on it. I’m like, how are you guys closing out so long? You know, they basically get an attorney involved. They had Eileen Brown who’s closing the deal. They just got the deal closed. I mean, we ended up making a little bit of money just because of our memorandum back then, but it was, it was a huge profit for them as well.

27:48 And that’s something that I should’ve followed upon and I didn’t. So why don’t you explain to everybody what a memorandum is. So just a memorandum. Um, it just gives us the right. We have contractual obligations with this property. And sometimes, you know, sellers unfortunately want to cancel because let’s say they got a higher offer after signing a contract with us and just our memorandum just protects us from that. Would you go about filing one? It is a, it’s a one page document and it does it. So she goes to the counter and it fills it all, goes to the county courthouse records, their contract, and it’s pretty seamless process. Okay. And guys, I’ll forget, this is a live show. So if you guys have questions, please don’t hesitate to ask. Um, what is the greatest lesson that you have learned?

28:36 Greatest lesson that I’ve learned. Just keep pushing it. I mean, you know, sometimes you’re going to struggle in life with whatever you’re doing, but just keep pushing it and you’re going to get through it. Like me personally, you know, it took me a little bit of while to kind of gain traction as far as the wholesaling side goes. Um, but you know, it, it’s working now. Things are working. I know it was just a building yourself as well. I mean just continuing is continuously learning. Um, and just being the best that you can be. Right. So I think grit is something that we’ve talked about before. So I don’t know, is there a way you can instill that in somebody? I don’t know. I mean for me, I was just brought up just, you know, just obviously you work hard and you’re going to achieve what you want.

29:32 You know, my summers I spent most of my summers I spent working. Yeah. I’m so, and even as a kid, you know, so it just, that just got carried through my adult life. It was just built into you. Correct. You didn’t have, you didn’t really have a choice. Yeah. Uh, okay. So Brian wants to know what’s the best marketing strategy you do best. We’re, so we’re, I’m bailing into, like I said, some softwares which I think are going to help us lower our costs and we’re just, I’m actually Beta testing a couple of them. Um, so if you want to exit just to contact me, but it’s, for right now my biggest roi comes from ringless voicemail. I mean, we’re at about, I think last week I looked at it at about 1900 percent Roi, which is insane. I mean as far as our direct mail was like 300 percent.

30:22 I’ll take 1900 percent. That’s pretty good. So. Okay. So why don’t you elaborate like what other softwares that you’re creating? The software, the work reading is we’re creating risk like a illegal sms marketing software that comes with a lot of different functionality, you know, voice broadcasts, ringless voicemails. We’re also kind of integrating everything with skip tracing. So it should be, it shouldn’t be. It should allow investors to like, like really lower their costs, marketing costs. I mean we spend, you know, 25 plus thousand dollars a month on marketing and it’s, you know, especially direct mail that secret biggest month is spent. Any thoughts about back in that office since you’re seeing a higher roi on the. I’ve, I’ve tripled down on my slip on my ringless voicemails. Right? And it was just two weeks ago. So you’re going to do more ringless voicemail is, but you’re not necessarily backing out your.

31:20 I’m not backing out of direct mail and it’s still working, it’s still performing for us. Okay. And we’re actually implementing some new strategies with the direct mail, which I’m, I mean, I can only say, I don’t even know what I mean, kind of hard to explain, but it’s basically direct mail with the text message system and he’s probably the one I got to talk to you then. What is the name of the, uh, ringless voicemail program is going to be ringless voice leads.com. Okay, cool. Um, and what are you learning right now? I’m learning how to be a better manager and how to balance my life more. How are you? How are you learning that? Books primarily. I mean I just, I try to read a lot of books I want that, I want to say read the book a week but sometimes doesn’t happen. So. But I, I try, I try to do 25 to 30 books a year. Wow. Okay. And any books that you’re, you’re not right now that’s helping you with the work life balance or the managing? So I’m one of the last books that I, that I read was, um, forgot the book’s name actually. So one of the last book that actually really made an impact on me was the go-giver. I mean, that book, I just had a mind shift with a super short read,

32:41 uh, just had a big impact on me. Yeah. And uh, that was one of the ones that, that, that book I’m brandon know, it’s like, hey, he’s the one that gave it to me. Okay, cool. Yeah, he said you need to read this book and I’m reading it and it before or this is right after I started this podcast, but I think it was law number two, you know, like you got to give to as many people as possible and help as many people as possible if you’re trying to generate wealth and so on, you have to help more people. And I was a great reminder of what we’re trying to do here on the show. I’m anthea remy wants to know what your cold call or say when they reach a seller.

33:20 So this, there’s just the script. I mean, just reach out to me, I’ll send it to you. Um, you know, it’s basically, hey, um, hey, my name is evil. I work for higher offer. We’re buying housing the area. Just wanted to see if you had an interest in, in cash offer and they’d basically goes from yes or no and then maybe. And then it just follows the script. We’ve changed it up a little bit. I mean, I think Brent has a great script as well. We’ve changed ours a little bit to, to better suit our needs as far as even our crm goes. Um, because we found out a lot of the leads, you know, at the end of the year a lot of them were going to be junk leads or any people that want to know 300 percent above retail. So just the plus 50, zero zillow plus 50 slash 50 and it just, just trying to eliminate a lot of these folks on the better ones. So we’ve just kinda gone through a, a couple of changes, you know?

34:11 Yeah. Okay. And uh, how did the same followup to that question is, how do they hand that off to your acquisitions?

34:20 So our crm, basically as soon as they click a hot lead, it goes into our crm and then our leads manager, she goes through like a deal triage type of thing. She looks if there’s, depending on what the notes are, sometimes we get a lot of notes sometimes. Obviously we don’t, we don’t have a lot of notes. We have the seller’s name, address and let’s say he may be interested in an offer. So those, if she’s, if she’s not sure she’s going to call them, hey, just calling to get some more information. I’m just kinda thinking what will we do, how we do it. I’m just kind of setting the expectations right. However, if she, if there is a lot of notes in the system and she can determine there’s motivation based on where the property is vacant, if there are other state, uh, you know, what the value they want for the property and compared it to like our crm, those automatic calculations. She’s in the best off to the acquisitions and there, that’s our leads manager. Her job is to basically distribute elite or acquisitions and to follow up. And she does a lot of followups. I mean, she does like 350 phone calls every week.

35:22 Oh Wow. Okay. Uh, and, and Brian David wants to know, what do you think is the best wholesale or Rei training course?

35:31 There is a lot. I mean, I’ve gone through, you know, uh, the, the, the one that got me started with Sean, Terry Scott, you know, of, um, but um, you know, after Sean theories course and I’ve picked up a couple more courses, which, you know, I’ve learned some things, but at the end of the day, for me, I’ve learned the most masterminds. Yeah. Just getting other peers being, yeah, being around the right people. But it’s pretty hard if you’re newer to hang around those people, but then there’s like the meetups. I mean, you go and you meet people and you know, you, you just talk to people. Yeah. And you guys have here in the Phoenix area. I do the real estate disruptors meet up first Thursday of every month. So, uh, if nothing else you can learn from that. Okay. Um, what was your favorite best or most interesting failure?

36:17 It goes back to the house, you know, I have, it’s just in the vacuum that’s never going to recover. It’s a, we’re, we’re actually closing on the property. So one of them I actually still haven’t closed yet myself. I still don’t, I, I moved into with myself, uh, the, the other one we’re selling, we’re closing on the 25th, we’re gonna end up making close to six figures, which is awesome. Cool. But, uh, it was uh, it was difficult process. Yeah. Uh, okay. And the Anthony wants to know what’s the best way for them to get that cold call it stripped from you? I’d just reach out to me on facebook either. Also have my va send it to you. Awesome. Uh, is there any one book that you’ve gifted more than any other?

37:01 I’ve given the book to several people. Um, um, it’s called why it starts with why it was cold. So say it’s a great book. Yeah, I’ll get it to a few people. Um, I think the, the goal giver again is a book that everybody should read. Anybody like the book that got me started in real estate obviously is rich Dad, poor dad, everyone. I read that book in Two Thousand and eight. I want to say 2009. And then I read it two years ago. Yeah. Uh, and you, you feel like it was still as helpful? Correct. Years ago? Yeah. Okay. It just, it gets you refocus them and it just, it’s a great book. Okay. And then why do you think, um, a lot of people fail in the wholesale flipping part of the business, which was giving up too easily. There’s always going to be struggles.

37:55 You know, like I said, we’ve had a lot of properties, some. Okay. Not a lot of properties with some properties that we close, there’s no issues, you know, I can think in back in July of this year, we’re supposed to be closing on three properties in the week and literally all of those years felt kind of throwing me and well two of them have failed through one of them. We just literally made a thousand dollars on. Yeah. Uh, but then obviously next week, you know, more deals closed and it just kinda comes and goes and just don’t give up. Yeah. And I think also the importance of having a good pipeline because deals will blow up. Correct. Thanks Diana. Last minute. Yeah. And, and valuable lesson that I’ve learned that especially in the wholesale game is like, you know, don’t count the money into it’s houses closed because I’m not like, well we’re making an x amount of money on the house.

38:48 Money spent already booking vacations. But uh, yeah. And then the deal fault end ends up pulling through. Yeah. It just happens. Okay. Is there anything that keeps you up at night? Just, I’m just, you know, issues with two videos. I mean, they shouldn’t, but sometimes they do just, you know, obviously problems. I’m constantly trying to figure out, okay, what do I do next tomorrow to correct what happened today? Let’s say there is some issues. Just I’m constantly analyzing things in my head were what am I doing next? And just sometimes if I get a new idea, like I can’t sleep because I gotta like I gotta implement it today. I’ve got that same exact product. Yeah, yeah. If I get something that’s like, oh, this is gonna be really cool or this is going to change the world. It doesn’t, but you know, in your mind, yeah, I’m going to implement this. This is gonna change everything. I can’t sleep that night. Yeah, yeah. I go, I can’t have that, but once a quarter and then they can’t sleep and then they get up early so I can actually start working on it and it’s. Yeah. So okay. Um,

39:53 I know I’ve asked you a kind of this already, so someone wants to get ahold of you. They either want to ask you a question, you know, Andy’s already then a pretty good job responding about the script. So it was almost to get hold of you. How did they get ahold of you?

40:05 Just facebook or my email is my first and last name at Gmail. Okay, perfect. Uh, let’s see. Um, so anthony wants to know which company use for cold callers, but you hire them yourself, right? Or do you outsource it? Outsource it. I used to hire them myself and it just got a little bit difficult part of the man manage everybody, you know, they had three coat colors that I think in March and April, it just got a little bit too much for me to be able to handle what I was currently doing in their business and then managing the coat colors, making sure they’re listening to the recordings, they’re following the scripts and it just got too much and then I have to pay them and verify their time. I just decided to outsource it. So who do you outsource through? Um, I don’t know, actually just reach out to me. I’ll send you the company’s name. Okay,

40:56 alright, so that’s it guys. Again, if you liked this show, please share this episode right now and next week we got eric sage coming on and he’s going to be talking about a seller carry and how to. I mean the stuff he’s talking about really changed the way I’m thinking about the business, but how you can sell their carrie and create passive income where you can basically just travel and vacation whenever you want. Great, good. Awesome. Awesome stuff. All right, well thank you. Thanks guys.

41:21 Q Four. Great show. Thank you.