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F2F 117: How Joe McCall Virtually Wholesaled 6 Deals From His RV

F2F 117

In this episode, your mind will probably be blown as you learn how one genius investor virtually flipped houses while he travelled around the country… in an RV… with his family. Crazy, right! But SO awesome too!

We’re honored to speak with the one and only Joe McCall and get all the goods about how he picked his virtual markets, how he targeted certain zip codes, and details about the marketing and technology he used.

What it really comes down to is that his success, in part, depended on creating solid and trustworthy partnerships with VA’s and other boots on the ground investors in those markets.

Joe walks us through all his plays, step by step, so you really have a clear understanding of how to start virtually flipping – and how to succeed. Here’s a preview – marketing is a major factor.

 

Download Episode 117 Here…

What you’ll learn

  • How it’s possible to get several thousands of dollars in instant equity through wholesaling/flipping
  • How Joe was able to get solid work done and still have fun with the family
  • How to do transactions from a mobile basis and still generate revenue
  • That we’re not in the real estate business, we’re in the marketing  business
  • Why it’s important to create a marketing plan
  • Joe’s 3 keys to REI success
  • Why yellow letters, postcards and all direct mail are your friends
  • How best to use your VA for flipping virtually
  • Why follow up is SO important and the stats that prove it

Mentioned in this episode

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Tweetables

Transcription:

Download episode transcript in PDF format here…

Sean Terry:        Welcome to the flip to freedom podcast. I’m your host, Sean Terry. Hello again, this is Sean Terry from the flip to freedom podcast, and we are on episode # 117.

I want to thank you for joining me today, I’ve got a awesome interview with a gentleman by the name of Joe McCall and how he virtually flipped houses in an RV driving across the country. It’s an amazing story of how he picked the market, exactly how he targeted what zip codes, how he did his marketing, what technology he used.

He literally, with him and his family and all his kids, traveled around the country in a gigantic RV and on, he had breaks and time off, or whatever he did. He was, he was on the phone flipping houses.

It’s an amazing story of how he created the partnerships in those markets to be able to do that. He delivers a ton of content, which is awesome, and the interview is great, if you’re looking to virtually flip properties.

If you don’t know what wholesaling is, or virtually flipping properties is, or if you’re browsing in iTunes, you’re wondering what the heck is this show about, it’s about wholesaling properties, or flipping properties where what we do is we target a very small niche of the marketplace.

About three to five percent of the marketplace, and we target distressed sellers. Here’s the deal. If you’re going to buy a stock in the stock market, and Apple, let’s say, is trading at what is it, $300+ plus, whatever it is.

Let’s say you’re going to buy that stock. Well, guess what. You can’t buy a $100 stock for $150. You just can’t do it, right. You actually have to buy it when it’s a hundred and fifty dollars, and wait for it to go up.

What’s great about real estate is you can target a distressed seller, maybe a landlord who has a property, it was trashed by a tenant. Maybe a fire damaged property, maybe an inherited property where the heirs just want to get rid of it. Maybe a divorce situation where they just want to sell the thing and get done with it so they can move on with their lives.

Maybe there is an elderly situation, they just want to divest, get rid of all their properties. Whatever the case may be, there’s a small percentage of the market that we can target and we can find motivated sellers. They will sell us a hundred thousand dollar house for fifty thousand dollars.

The cool thing is that all we have to do is sign a contract. Let’s say we sign a contract for fifty thousand dollars, and then we can remarket the property to either an email buyers list, what I have, we can put it on Craig’s List. We can put bandit signs out and we can find a buyer that will say, let’s pay $60,000.

What happens in the transaction, we can either sell our contract, for ten thousand dollars to the buyer, via an assignment, or what we can do is called a double escrow or simultaneous close.

In that scenario, the buyer will wire in $60,000 of which $50,000 goes to the seller, right, because that’s what you’re contract is with the seller, fifty grand, so they’re going to be happy. They didn’t have to pay real estate commission, they didn’t have to pay closing costs, they didn’t have to fix up the property, they didn’t have to do anything.

All they had to do was sign a contract with you, and now you close the transaction, the buyer wires in sixty, $50,000 goes to the seller. Sellers happy.

The buyer’s happy because he got a $100,000 property with $40,000 instant equity. That’s like buying a $300,000 stock for a hundred and sixty, hundred and seventy thousand dollars. You get instant equity, instant savings, immediately, right out of the gate.

Because you facilitated the transaction, you get the $10,000. The cool thing is, you can do this once a month, on a part time basis, around your job, just by marketing to sellers.

You can send post card out, you can send yell letters out, you can put online campaigns through Google ad words, whatever the case may be. You can do marketing for those specific sellers around your job and if you do one deal a month, that’s an extra hundred and twenty thousand dollars if you do one deal a month for the next twelve months.

What would it take to get a $120,000 a year raise on your job. Well, I don’t know what you’d have to do, but you’d probably have to do a lot. What if you did three deals a month, five deals a month, 10 deals a month. Now I’m in Phoenix, Arizona, I have a full-time wholesaling operation since 2003, and we do anywhere, 15 to 20 deals a month just in this market not including the other markets across the country.

The cool thing is, I have success stories on this podcast. We teach about every aspect when it comes to marketing, when it comes to dealing with buyers and sellers and negotiating and what to say and how to say and how to identify the property and how to determine its value.

Where to find the buyers, how the closing process works, how to find escrow companies that will close this transaction for you, and yes, it is legal. There’s people doing it all across the country, in every major market across the country.

In this particular interview, Joe is going to talk about doing deals virtually. That means, let’s say I’m in Phoenix, but I’m going to flip a house in Las Vegas, that’s a virtual market. I can do that virtually.

The cool thing is, what he’d going to talk about is where driving around in his RV, and there’s specific things that he has done to be able to, and relationships that he was able to make that would allow him to easily flip these properties and make a fortune, doing it while driving across the country with his family.

The cool thing is, you can do this mobile. I’ve got guys in Canada that are flipping houses in the US. There’s people overseas that are flipping houses in the US, and generating revenue because it’s such an incredible business.

I’m going to shut up now. If you want more from me, I wrote a book that breaks down specifically what you need to do. It’s a hundred and twenty nine page book. I’ve had people tell me they spent well over a thousand dollars for the same information I give away for free.

If you go to flip, the number two, freedom dot com, flip, the number two, freedom dot com, you’ll see a video of me on the front page, I’m in California at my beach house and you just, there’s a little download now.

Click that button and what it will do is, you can download the book for free. You can read it and it will tell you the step by step so you get a full understanding what we do. Then we have over a 117 episodes that teach every aspect of the business from start to finish, all for free.

So go to flip2freedom.com, flip, the number two, freedom dot com, you can download that for free. I’m going to shut up. We’re going to get into the interview right now with the man, the virtual flipping machine, Joe McCall.

All right guys, Sean Terry here, back with the one, the only, the guy I’ve known forever, Joe McCall. What is up Big Daddy.

Joe McCall:       Big Daddy Sean.

Sean Terry:        What’s up.

Joe McCall:       I’m doing awesome.

Sean Terry:        Joe McCall has been an instrumental part in my success when it comes to all this information part of the business, and teaching it. I remember way back when, I did a first webinar to Joe McCall’s list and it was so bad. It was, I think my screen was messed up and the audio was messed up. It was just a wreck.

Joe McCall:       The funny thing was, you had turned your phone off, and you had never turned your screen on, so nobody could see your screen for 45 minutes and I kept on trying to text you and call you.

Everybody could hear you, but they just couldn’t see your screen. You poured your heart and soul into that, I remember. And then to hear your deflated balloon just go whew, when I finally told you what happened.

Sean Terry:        Yeah, because the funny thing, I was like, I was on. I was like, let’s do this, you know. An hour. I was sweating, I was stressed out and then nothing happens. It was terrible.

Obviously you heard the intro before I came on here, so you know about Joe McCall and his podcast and all the killer, killer stuff he’d doing. He recently, what we’re going to talk about here today, is recently, and he called me from, or text me from his trip, but went on a trip in an RV with his family of four kids, and his wife, in an RV and traveled for how many months?

Joe McCall:       Two and a half months, 10 weeks.

Sean Terry:        Okay. Traveled for two and a half months, around the country, from where to where.

Joe McCall:       We left St. Louis in the middle of June, went to Mt. Rushmore, went up to Grand Tetons, Yellowstone, Glacier National Park in Montana, headed west, spent some time in Seattle, took a cruise up to Alaska and back, and drove down the Oregon coast.

Saw about a total of 10 different national parks. We went through the Oregon coast which is gorgeous, down through the redwoods, Lake Tahoe, Yosemite, and back home through Colorado National Park, Rocky Mountain National Park.

It was epic. We, you wouldn’t believe, we have 25 Jr. Park Ranger badges. Every national park you go to, they have a junior ranger program.

Sean Terry:        Daddy, Daddy, Daddy, Daddy, I want a national park badge.

Joe McCall:       Only two of my kids cared about that, so we, every place we’d stop at, you do all of the activities and we have this banner hanging in our camper of like 24 different park ranger badges. Those of you that have been to national park, you know what I’m talking about.

Sean Terry:        Okay, so I’m just trying to get a picture of this. You’re in this RV with four kids under the age of …

Joe McCall:       10.

Sean Terry:        10. So you’ve got four kids under the age of ten, and your youngest is how old?

Joe McCall:       Three.

Sean Terry:        Three. So ten to three, and you’ve got your wife in a compact space in a typical RV. What’s the square footage of an RV.

Joe McCall:       We also have a dog.

Sean Terry:        Any goldfish, any like, other lizards.

Joe McCall:       No, no, just the dog. We have, we had to buy a Ford Excursion 7.3 liter diesel. It’s the only vehicle that can hold a family of six and we can pull something that heavy.

Sean Terry:        So it’s not the one you drive around in.

Joe McCall:       No.

Sean Terry:        It’s actually the one you pull.

Joe McCall:       It’s a big 37 foot RV camper trailer behind us. And it’s the biggest camper trailer you can buy, it’s monstrous. So we’re almost as long as a semi-truck trailer. We –

Sean Terry:        You would pull up to a park, you’d set the whole thing up, you plug in all your stuff, or whatever. I’m not a, I used to be a Marine, so we just have a backpack. We’d have our pack, we’d have our sleeping bag, our poncho and that’s it.

But you set up the whole thing.

Joe McCall:       We were really roughing it. We called it glamping. Our trailer, it has three big pop outs and in the back of it is two bunk beds, so our four kids slept in the back. My wife and I have our queen sized bed in the front and then inside is a giant, it’s a big couch, and a kitchen with an island.

We have a stove, refrigerator, hot water shower, full bathroom. It’s really, really nice. Yeah, we were roughing it, you know. We brought our Keurig coffee maker, so we had Keurig coffee.

Sean Terry:        I can’t go anywhere without my Keurig coffee maker, so.

Joe McCall:       It’s so funny. I filled, every time I’d see one of the campers next to us going out, building up some kind of camp fire or setting up their propane stove so they could burn water to make coffee, I would just feel so bad for them. I wanted to offer one of our Keurig coffees to them, but I never did that.

Here’s the thing, Sean.

Sean Terry:        What a mean guy.

Joe McCall:       We had so much stinking fun, it should have been illegal. We just had a blast. By the end of the 10 weeks, we’re kind of ready to come back. We could clean the whole trailer, the whole camper we could clean it in 10 minutes. Each kid maybe had two toys and they just, they were forced to like, play with each other, so they started getting along better by the end of the trip.

We’d spent a ton of time outside. We really bonded together as a family. Here’s the cool thing. My business didn’t stop. While we were gone, we still flipped six deals in three different markets, while we were traveling.

I only worked a couple hours a day. The biggest challenge I had was finding places I could get on the phone, or get on the internet. Every national park we were in had horrible cell phone reception. I spent a lot of time on a pay phone making calls. I never worked more than a couple hours a day. It was so fun.

Sean Terry:        So, let’s break this down for the listeners. You’re in this camper, you’re driving around, you’ve got all these kids and you’re actually trying to do business. Now, I know for me, I can’t even do business in my own house, and I’ve got a 15 year old, I’ve got my wife, and I’ve got my 11 year old.

Because I’m home, Daddy, hey, Daddy’s off. Let’s go do stuff. Let’s go for a bike ride, let’s go here, let’s go that. Or my wife says, take out the trash, can you do this, can you get me a glass of water, and I can’t get anything done.

That’s why I had to get an office. Then now it’s just growing and stuff like that, but the bottom line is that it’s very difficult for me to do that. So you’re in a camper with four kids under ten and your wife, and you’re trying get things done.

What did you have to set of parameters when it came to working and your family. What did you tell your family. Did you just say, listen, I’m going to take two hours a day, or I’m going to take this, or Daddy’s got to do some work while I’m on this trip here, so … How did you set the expectation parameters with them.

Joe McCall:       I would leave.

Sean Terry:        Okay, you’ve got your wife and kids and you left them in a camper in the middle of the woods. You left. Did you get on a …

Joe McCall:       Well see, first of all, thank God for DVDs. We  brought a, we bought a portable satellite so we could watch TV if had to. We had all the luxuries of home except the size of the home, we didn’t have that.

I would go to a coffee shop, I would go to, sometimes I would work inside my vehicle, or I would work outside while they were inside, on the picnic table. Depending on weather. Most of the time I would go to the local coffee shop, which is usually a fifteen, twenty minute drive away, where I could get cell phone reception.

I had an AT&T, well, my iPhone is a hot spot, so sometimes I’d use the internet from my iPhone and I also brought a Verizon wireless card, you know those Verizon wireless cards you can get. I also had that. Sometimes I would use my iPhone, AT&T, to talk on the phone, but I’d use my Verizon wireless card to get on the internet.

One of the things I realized was how dependent my business is on the internet.

Sean Terry:        Especially if you can do virtually all across the country.

Joe McCall:       Here’s the thing, Sean. Even in St. Louis when we wholesale deals, I never go see the property. I never talk to the sellers. I never talk to the buyers. I figured why can’t I do this same business from anywhere in the world.

A year and a half ago, we spent two months in Prague, in the Czech Republic. And now we went on this two and a half month trip and we’re talking next year about going back to Prague, or maybe three to six months.

If I can flip deals virtually in my own market in my backyard, why can’t I do that no matter where I’m living, no matter where we are.

Sean Terry:        Here’s the key components, because you know me, I like to break down exactly how to so someone who’s listening to this call can lead to something that can make them money. When they’re, if they’re going to spend the time listening to us for a period of time, they can take something away.

The two key components I want to talk about and drill down on is being able to be mobile in this business, to be able to be mobile and be able to generate revenue, so that means anybody listening right now, is not stuck, and you’re not stuck in your own back yard.

Number two is the transaction itself, in a mobile situation. Being able to transact, how do you transact in a mobile situation.

First off, let’s talk about being able to work in a mobile situation. What are the tools you needed. You had your phone, you had your internet and stuff like that. When it came to actually targeting a specific market, did you target St. Louis, or are there other markets that you target.

Joe McCall:       I’m targeting, I have three different markets, and I do this with other wholesalers and partners. Let me explain, it all comes down to marketing. You know this, we’re not in the real estate business, we’re in the marketing  business. I preach that a hundred times over on my podcast.

We’re not in the real estate business, so understanding marketing, it’s understanding leads, the life blood of our business. You first have to come up with a marketing plan. I learned this from you a long time ago. You figure out, okay, how much money do I want to make a month.

You break it down backwards from there. All right, I need to send a thousand postcards a week. I need to send twenty yellow letters a week, or day. I need to do a hundred bandit signs every weekend, I need to spend this amount of money on pay per click.

You have to have that stuff written down. I call it the three keys to success in this business. Marketing, automation and delegation. You have your marketing written down, then you create the systems where that marketing gets done for you, in spite of you.

Sean Terry:        Let’s talk about the marketing you did. In this time frame, what marketing did you do and first off, what were the three markets you targeted.

Joe McCall:       St. Louis, Pinellas County.

Sean Terry:        Dallas County?

Joe McCall:       Pinellas. Florida.

Sean Terry:        Oh, Pinellas Florida.

Joe McCall:       And Phoenix.

Sean Terry:        Phoenix, baby.

Joe McCall:       Which goes to show you, even in your backyard, Sean. You dominate Phoenix, right. There’s still room for the little guys to do deals in Phoenix, isn’t there.

Sean Terry:        Oh yeah, absolutely. There are so many people doing so many deals in Phoenix, and we don’t run into people. I don’t believe in competition. There’s so many deals and so many stuff to go around it doesn’t matter.

You picked three different markets and what was your specific marketing goal.

Joe McCall:       Leads. I know if I wanted to make ten grand a month, I know I have to have at least five to seven leads a day coming in, in each market.

Sean Terry:        Five to seven leads a day to make ten grand a month and then you pick these different markets. What’d you send, postcards, yellow letters, what’d you send.

Joe McCall:       First, I need to know where to send them to. You have to be really laser focused with your marketing. What I like to do is, I go in, and you can do this for free on Listsource. You go in and you pick a county, and you say, show me all of the investor transactions in the last six months.

You can download that by zip code. It will show you, in fact, maybe what we could do Sean, is I could do a little video of doing this, and you could put it on your website as a free bonus, if anybody wants to see this.

It’s really simple, and this is free. You go to Listsource, you pull up your county and you say give me all the transactions in the last six months by zip code. It’s a little spreadsheet you can download. You sort that, and you rank it by number of transactions.

What I like to do is, there’s thirty zip codes in a county. I like to look at the top fifty percent of the zip codes that have fifty percent of the transactions in there.

Sean Terry:        The highest amount of transactions.

Joe McCall:       Correct. It’s really easy to do that. I’ll do a little video for that. Then those, I go after those zip codes because the key to this is knowing who, what does your customer want. Our customers are not the sellers. Our customers are buyers. You have to know what your buyers want, and I can figure that out really quickly and easily by seeing where all the activity is.

Every county I go into –

Sean Terry:        Those aren’t particularly cash transactions, those are overall general transactions.

Joe McCall:       Investor transactions. They’re absentee owners.

Sean Terry:        So investor transactions. How can you download that for free on Listsource.

Joe McCall:       I’ll have to show you. You have to go to flip3freedom dot … What is it?

Sean Terry:        Flip four freedom. Flip seven freedom. No, flip two freedom.

Joe McCall:       Go to flip2freedom.com, go to the show notes, and I’ll have a little video. I’ll send it to you for your listeners and they can watch me do it.

Sean Terry:        This is a cool tip. We go to Listsource, we pull it for free, we pull the investor transactions over what period of time, ninety days?

Joe McCall:       Six months.

Sean Terry:        Okay. So six months transactions, you pull down the list, you sort it and you figure out the highest zip code, what highest transactions per zip code, and then you, that’s where you’re going to target your direct mail. Now, let’s go back to the list of the owners. Now we’re going to look for, you go absentee owners, do you go …

Joe McCall:       Here’s the thing with absentees. We’re recording this now in the late summer of 2014. It seems like everybody and their grandmother is sending postcards to absentee owners right now. Landlords, the list of landlords are just getting beat up.

Sean Terry:        Beat up, right.

Joe McCall:       It’s still a good list to send to, but I prefer to send to owners with equity. Homeowners, with equity, and a little Ninja trick. I like to look, I do a demographics for age. Maybe I shouldn’t tell anybody this.

Sean Terry:        No, that’s, my list, here’s my best list. Owners with equity, 65 or older.

Joe McCall:       There you go. You can do that in Listsource really easily. You pay a little bit more to get that information. I go after 55 and up. Here’s the thing. If you talk to any wholesaler who does a lot of deals, and you ask them, tell me your 10 most profitable deals, or, look at all of the deals that you’ve done.

I would bet you seventy five to eighty percent of all of their deals are going to be from somebody that has been living in the home for twenty years. Deferred maintenance, it needs a lot of work, they’re older, they just want to get out of the house. They want to get rid of it.

My most profitable deals have always been with the regular home owner who’s been living there forever, or probate. It’s a family trying to sell a house that’s been in the family for 30 years.

You get fewer calls with these post cards, but your percentage of deals per call is much better with an owner occupant equity list. Does that make sense?

Sean Terry:        Oh, it totally makes sense. We just mailed out this week 27,000 and our list criteria was 64 or older, that have owned the property from 1990 and below. That was, we got that list and there was probably, I think the total available, total universe of it was a 185,00, if I went up to 2000 and below, and then dropped the age down to 55, like you’re talking about.

Joe McCall:       I like that better than percent equity. I just don’t trust percent equity. Percent equity is another filter you can use with these list providers. How do they know? Sometimes, counties don’t record the mortgage information, so –

Sean Terry:        Yeah, I was going, I like going ownership from 1999 and below, you can do 1995 and below, 2000 and below, depending on that, but then having… youn know… age, we do an exit interview for all of our sellers. Steve is my acquisition, he does that stuff. He’ll go out, he’ll meet with the sellers.

What happens is, upon closing the, or getting the contract, he’ll do a quick exit interview. Okay, what’s the reason for selling, what’s your age. He’ll write that this stuff down and then he’ll put information in there like what we’re talking about.

Joe McCall:       That’s really, really smart. You know your numbers.

Sean Terry:        Now we look at all of our exit interviews over the past year, and we can determine wow, a good chunk of them are from unemployment, and then a huge chunk of them are from age demographic.

Joe McCall:       I bet you a large portion of them are maybe divorce, right? Is there a way you can get a specialty list. Okay, anyway, it’s an inside joke. Is there a way you can get really good targeted lists, and if you can find how to do that, that’s a good place to go, as well.

Generally speaking, I like to go after regular home owners who have owned the property at least twenty years, who are 55 years and older, in my target zip codes.

I’m not sending out twenty 6,000 post cards a week like Sean is. I send our about ten to 12,000 every two weeks. I’m sending out 6,000 to 7,000 a week right now. I can’t afford to send out to the entire state, so I want to make sure that my marketing is really focused and targeted like a laser on the areas I know are going to have the biggest demand.

When I get a property there, my chances of finding a good buyer who want it are a lot greater than if I’m just kind of blasting it out to anywhere. Does that make sense?

Sean Terry:        That makes total sense. Let’s say, so, we’ve got the list, we’ve got the area that you’re going to send them, we got the goal of the ten thousand, we know we’ve got to get the leads coming in. Let’s talk about the mail piece. What’s your favorite mail piece.

Joe McCall:       Well, –

Sean Terry:        We have controversy when he talks about, we debate that back and forth. What’s your favorite mail piece.

Joe McCall:       It changes every month. I’ll be honest with you. My favorite used to be this really obnoxious post card that just got a ton of calls. Then I started looking at the numbers, Sean. Okay, here’s the thing. I get just as many deals with this obnoxious post card as I do with my, hey, I’m an investor and I want to buy your house post card.

I get the same number of deals, but I get half the calls with my more I’m an investor post card. It’s all about quality versus quantity. Maybe there’s a place for both. Maybe, you just got to test it, right.

Maybe one month or one quarter you send out the obnoxious hey, I got to talk with you. The post card I’m talking about, for people who don’t know is, it’s this post card that says hey, I’ve been trying to reach you, I’ve been trying to get your phone number, I’ve got to talk with you about your house. I’ve recorded a special message just for you, don’t share this phone number with anybody. Call this twenty four hour recorded voice mail.

Sean Terry:        It builds such a massive amount of curiosity, then they listen to a four minute voice mail, and then they leave a scalding message like they’re going to come through the phone and rip your head off.

Or, they leave a message that they want to sell. The problem is, the scalding messages versus the quality messages are bad, so you’re creating a lot of bad vibes in the marketplace. Whereas, if you just come out and say listen, I’m an investor, I’m looking to buy houses, we’re going to by a couple two three in your neighborhood, if you’re interested.

If you’re looking at that, now, you’ll get a lot better response. Less leads that come in, you’ll get same amount of deals, you’re still going to get those people that want to sell, but you’re going to have a better credibility walking in, versus the other way, which is great.

You’re sending a typical four and a half by six post card and you’re doing it either through typical mail service like click to mail, or something like that, right.

Joe McCall:       Because we send so much volume, we get a really, really good discount with this one guy. It’s about .33 cents a post card, which is really fantastic.

Sean Terry:        Typically for someone listening right now, they’re going to send under 10,000 a month, under 5,000 a month. The standard rate, if you go to click to mail, is .39, .40 cents, is the standard rate.

Joe McCall:       I think it’s like, I think it’s .43, .44 cents.

Sean Terry:        Oh, it is. Okay, got you.

Joe McCall:       The point is, you’ve got to know your numbers. If you want to do ten grand a month, that means you need to do three deals a month, let’s just say, and if you need 30 leads per deal, then you need 90 leads per month. You need to break those numbers back down to things you can control.

You need to figure out, okay, every month, every week I want to send out a thousand post card, every day I want to send out twenty five yellow letters, every weekend I want to put out a hundred bandit signs. You need to have that kind of a marketing plan written down. Then, you figure out, how can I get somebody else to do all of that for me.

If you try to do it yourself, if you’re like me, you get distracted, you get –

Sean Terry:        You can’t do it and drive around the country with kids and stuff like that. Now, we’re at the point, now, where do the calls go. Do they go to an answering service, do they go to voice mail, where do they go.

Joe McCall:       I’m really, really big on this. I think all of my mail right now goes to a twenty four hour recorded voice. The reason why, I’ve studied this. I get two to three times the calls when the postcard says call our twenty four hour recorded message, no one will answer.

People don’t know who you are, they don’t trust you, they don’t want to talk to anybody, they just want to get some more information and see if you sound like a good guy or not. My postcard says call twenty four hour recorded hotline, nobody will answer.

Then what happens is, our message is about three to four minutes long, but I’ve recently changed it where it says, and by the way, this is important too. Every marketing campaign that we do gets a unique phone number. Instead of doing extensions or putting codes on the post card, every marketing campaign gets its own unique local phone number.

I use Vumber, Vumber with a V for virtual, Vumber dot com.

Sean Terry:        V-U-M=B=E=R dot com, Vumber.

Joe McCall:       It’s like two extra dollars a month for every phone number that we have. Then I can tell by the phone number when it comes in, which marketing campaign it went to, what list it went to, et cetera, and we track that in Podio.

The lead comes in, it goes to voice mail, and my outgoing message, it’s about three to four minutes long, but now at the beginning I say, if at any time during this recording, if you want to do directly to our voice mail, just press pound.

Then I go into the outgoing message which is benefit, benefit, benefit, benefit. What’s in it for them. We can buy your house as is for a fair price and close on the date that you want. Forget about closing cost, we’ll take care of that. If you have tenants in there, we’ll take care of them, et cetera, et cetera.

Very, very benefit driven.

Sean Terry:        Have you tested twenty four hour recorded message, no one will answer, versus just a straight phone number?

Joe McCall:       Yeah, I get two to three times the calls.

Sean Terry:        Two to three times the calls and then about now from calls to voice mails, what’s your ratio.

Joe McCall:       That’s a good question.

Sean Terry:        So, if you get a hundred calls, and you get 30 voice mails, thirty percent, or is a hundred calls. That would be interesting to try versus … I have not tracked that, but I’m going to track it.

Joe McCall:       General rule of thumb, if I send out a thousand post cards to a good owner equity list, I’m going to get about ten voice mails.

Sean Terry:        So, 10 per thousand, so 1%.

Joe McCall:       Yeah.

Sean Terry:        That’s about, that’s typically standard for post cards.

Joe McCall:       That’s voice mails. I’ll get another 1 or 2% hang ups.

Sean Terry:        You’ll get a total response of roughly three percent, of which you’ll get a 1% lead rate, and you get a 3% response rate.

Joe McCall:       That all depends, it depends on a lot of factors. You just have to test it in your own market. It’s all different.

What happens then is, every lead gets put into Podio automatically. Podio has a –

Sean Terry:        Through Vumber. Through Vumber, right?

Joe McCall:       Through Vumber, yes. It goes to Vumber, Vumber sends a notification into Podio, and a task is automatically created for my VA, my virtual assistant in the Philippines, who has great English. My VA will get a notification that a new leads comes in. It’s a task. He goes through, I’ve given him a simple script of five or six questions.

Basically, hey, this is, thanks for, we got your post, we’re returning your call, you got our post card, something like that, and then it says, can I ask you a few questions about the house.

The first one is, do you have a house to sell. I’m just going off of memory here. The second question is, can you tell me a little bit about it. What’s your situation, why do you want to sell the house. How quickly do you need to sell it, what kind of condition is it in and what’s your asking price. That’s it.

I don’t go, I don’t have them ask questions about the mortgage.

Sean Terry:        I don’t. When we typically do something like that, or if we have, we’re sending everything to voice mail too, right now as well, even through a live answering service, it’s your name, number, email address, property address, asking price, simple as that.

You have to go to that. Your VA then screens all the calls.

Joe McCall:       He calls the voice mails first, and then he calls the hang ups.

Sean Terry:        Okay, calls the voice mails and hang ups, and then he does, let’s say he gets a racko, it’s like, boiler room right there. I got one live. What does he do with it.

Joe McCall:       He updates it in Podio and assigns a task to my boots on the ground guy, my wholesaler. And he creates a task with the information. Sometimes he’ll go, if he can, usually he does this. He gets the address and he gets the Zillow link, and pastes that Zillow link into Podio, so my wholesaler, then he, from this iPad, can go and look at the lead, click on the Zillow link so he can get some information on prior history and stuff, and then he calls.

My wholesaler’s so good, though, all he cares about is the phone number. That’s all he wants. Just give me this guy’s phone number, I’ll call him.

This is the key to it, to making it work, is to partner with a wholesaler, or have an acquisition manager who understands the importance of dropping everything you’re doing, go meet with that seller and sit down at their kitchen table for two hours if you have to.

Build the report and to negotiate and get that property under contract. My wholesalers that I work with have the mentality of, I’m not leaving this house until I get an offer that’s a win-win for everybody.

Sean Terry:        That’s a great attitude to have, Joe. When you someone, a wholesaler, that’s actually working with, that has a tenacious attitude, you have to do it. Now, let’s talk about how you found the wholesaler and how you build the relationship with them to be able to take all the leads.

So, basically your partnership is, you’ll do the marketing, you’ll get the leads screened, and then they will then take it out of Podio and go on appointments, is that right?

Joe McCall:       Yeah. My VA will update the lead and then assign a task to my wholesaler on the ground who will then take the lead and do whatever it takes to get it under contract. He’ll call them back immediately, schedule an appointment. If there’s equity, or if there’s motivation, my guy is in his truck going out to meet them.

Sean Terry:        How did you find him, and what’s the deal, what’s your structure with him.

Joe McCall:       This is so cool, because I interviewed a guy in my podcast a while ago. Can I tell you the little background of how I came onto this?

Sean Terry:        Sure.

Joe McCall:       I’ve always loved the idea of wholesaling properties virtually, and not doing anything, right. In the past, I’ve built a team. I’ve had an acquisitions manager, I had a local person and then all of a sudden, everything is outsources, but now I’m answering a bunch of questions, I’m putting our fires and I’m creating almost just as much work as I had before.

Sean Terry:        You’re managing a business, pretty much.

Joe McCall:       My net profit after all of my expenses and my splits and all of that, is still like forty percent of the deal. I decided, you know what, I’ve had acquisitions managers before, and they’re all great, I’m still friends with them.

Maybe there’s another way to do this. I don’t want to have to mess with finding the buyers, marketing the property, training my guy to negotiate it and training them on, basically this is how I trained my guys.

I give them all your training, Sean. Go listen to Sean’s stuff, right. Sometimes a deal would need, there was title issues, or sometimes a deal needed transactional funding, or proof of funds and it was taking up a lot of my time and a lot of my money, so I said to myself, why can’t I find another wholesaler to do all of that, who’s already trained, who’s already good.

They just don’t know how to do the marketing, they don’t know how to get the leads in like I do. I interviewed this guy in my podcast a while ago. His name is Jake. He was a guy who had a girlfriend, they lived in San Jose, South Bay area. It’s very hard, very expensive, very high end market there.

He was doing a lot of marketing. His girlfriend got a job transfer, moved to Fresno, California. Then he said, you know what. He was in Fresno one time visiting her, but he was still in San Jose. He was still working his full time job.

He saw a bunch of bandit signs out on the road, and he started calling up these wholesalers who were advertising bandit signs in Fresno. He said hey, what if I did the marketing for you, pre-screened the leads, then sent them to you.

Would you go meet with the seller, get it under contract and sell it and split the wholesaling fee with me. Of course, after he found who the real players were, he said yeah, of course. It’s a no brainer to them.

This guy’s going to do the marketing, pre-screen –

Sean Terry:        It’s more leads.

Joe McCall:       It’s more leads. The guy started doing this and within a few months, these guys in Fresno who don’t know how to do the right marketing that he’s doing, are wholesaling a bunch of deals and he’s making a bunch of money.

He quits his job, because he’s making good money now. Moves to Fresno, this is the cool thing. He decides, you know what, I’m just going to keep on doing the same thing. Even while living in Fresno, he’s doing the marketing for there wholesalers out there. This got me thinking a while ago about this.

How could I do this, but how could I find somebody that I would trust enough, to do this for me. I’ve been tweaking it for the last six to eight months. I’ve got a good friend of mine who is in St. Louis now. He’s one of those guys who used to get a bunch of deals off the MLS, at the steps, at the auction steps.

A lot of referrals. He’s well connected. But he’s the type of guy who just hates sitting at a computer and doing the marketing. He’d rather be in his truck look at homes, and meeting with sellers in person. I approached him, I said hey, I think we might be on to something here, I think we might be a good fit.

Why don’t I do the marketing, I’ll set up the systems. I’ll have my VA pre-screen the leads and then you go out and meet the sellers and get them under contract. I will say this. After a few deals, I’m paying for all of the marketing. My margins weren’t as high as I’d like them to be.

After a few deals, I did approach him back and I said look, I think we need to adjust this. I know you’re doing a lot of work, but, I showed him my numbers. I’m only making this amount of money per deal. I want to make more than that to make this worth my time.

We agreed to split the marketing costs 50/50. I’m still paying for it, but out of the deal, we’ll split the cost of the postcards and the VA who’s pre-screening the leads. That’s how I’m doing it right now in Florida and Arizona and I’m looking at a couple other markets right now.

I want to find those guys that I already know are doing five to 10 deals a month and that I know already have the systems, the buyers, the money. They have the title companies. They already are doing well, they just don’t know how to do the marketing, set up the systems like I do.

Sean Terry:        That’s a great way to do it. Having employees, there is an advantage of having employees because it creates bigger margins and you can have reporting, and they’re working your systems, your platform, your thing, stuff like that.

When it comes to, then, outsourcing, there’s advantages to doing it because there’s no overheard and cost. You can cut off the marketing  and you’re done, if it’s not working. Whereas firing someone becomes a little more difficult.

Joe McCall:       There’s definitely advantages to doing, if you’re doing a ton of volume, you need to have an office, you need to have people in there. I still have staff in St. Louis to do the marketing for me, and I have virtual assistants in the Philippines.

I also have a teaching and coaching business, and my podcast business, so my team is doing a lot of things for me. If I were just doing deals, I don’t know if I would need somebody in the United States.

I think I could build a good enough team that was completely virtual in the Philippines to do all of that for me.

Here’s one more, oh, I forgot. This follow up, follow up, follow up is so important, and I think is one of the big keys to make this work. You’re going to find that fifty percent of your deals, or more, are going to come from follow up. People that said no before.

I’ve learned a lot of this from you, Sean. Every seller, and Todd, our mutual friend Todd Tovack, every seller that we talk to and a contract in the mail. They get an offer, every seller we talk to. And, every lead that comes into Podio always has a task assigned to it, to call them back the next day, to call them in three days, to call them in three weeks, three months.

What my VA just started doing, which is so awesome. Every time my VA leaves a voice mail, he sends that seller a text immediately. Sends then a text message saying, is your house still available. Call me. Tom. And he puts a phone number in there.

That is huge, because you’re going to get a lot of sellers that, maybe you’re playing phone tag, going back and forth. You send them a quick text message, and they’re going to respond, they’re more likely to respond to that text message than they are going to be to call you back.

There’s ways that even your VA in the Philippines can send text messages for you. There’s Google Voice, and there’s also, if you have an Android phone, there’s, or even soon to be a iPhone –

Sean Terry:        Six. Tomorrow.

Joe McCall:       There’s a program called Mighty Text. Mighty Text dot net, with an android phone, you can send text messages through your android phone from a browser. You have your VA log into Mighty Text dot net and they can send a VA from your android cell phone.

Sean Terry:        For follow up, my system for follow up is, we export all the sellers out of Podio monthly. We send them a yellow letter, that’s what we send yellows to. Every, the first and the fifteenth, we hit them with a voice blast through Call Loop, but we do not hit them with text, we haven’t done that yet.

That’s basically our follow up system we have. And, what we’re, they’re in our system doing the whole Podio follow up type thing.

Joe McCall:       That is huge. Every seller, no means not yet. No means not yet. Every seller that we talk to, no matter how far apart we are, we’re going to send them a thank you letter and a contract. Just a one page contract attached to that. My wholesaler on the ground will say, send them an offer for 70K.

We’ll send a thank you letter and a contract for $70,000. It doesn’t matter how far apart they are. Then we add them to a monthly drip campaign for follow up. I’m telling you, if you’re not doing that yet, you’re throwing away money.

Sean Terry:        We’re good now that, let’s move on. Now you have, we’ve got the follow up, leads are coming in, you have them in Podio, you tag them from the virtual assistant, you’re now, other wholesaler gets that lead, goes on the appointments, gets the contract, opens up escrow, I assume. Is it his job, or does he bring the contract back.

Joe McCall:       Yeah.

Sean Terry:        He opens up escrow, and now when it comes to finding the buyer, who’s responsibility is that.

Joe McCall:       He does that.

Sean Terry:        He’ll find the buyer, he’ll put out the marketing, he’ll do whatever, he talks to the buyer, he takes the appointment, he goes, sells the house, he gets the other side of the contract and then now goes the closing. How do you get paid.

Joe McCall:       Usually, because I have a good enough relationship with this guy, I’d say 25 to 50% of the time, I get a check from the title company, and the other fifty percent of the time, he just sends me a check.

This is important. Everything gets tracked in Podio. We had a very clear understanding at the beginning of this. IF we’re going to work together, you have to update Podio. I want to know from beginning to end, everything that’s going on, inside of Podio.

He understands that. It goes from a seller lead, he puts in the buyer in there. It goes into an offer, and it goes into the white board, which is our contracts. I can see everything in there.

Somebody’s going to say, well, how do you know he’s not going around behind your back and closing deals without you knowing. A couple things. I’m the goose with the golden eggs, right. Why would he try to cut me off because if I ever were to find out, he’d stop getting leads from me, number one.

Sean Terry:        It’s a short term thinking. The guy makes ten grand because he goes around you, but then, always something, word surfaces, something comes around and then boom, you drop the hammer and say I’m done. You replace him.

Joe McCall:       Here’s the thing. Because I’m only working with somebody who already is wholesaling a lot of deals, he wouldn’t have been wholesaling that many deals if he didn’t already have a good reputation. It’s a small community. Word gets around really fast. This guy, he has a good reputation in St. Louis, the same with the people in Florida.

They have a good reputation and the last thing they would ever want to do is ruin their reputation because that would ruin their business. Word gets around. Title companies and lenders and rehabbers and contractors. They have a vested interest in making sure this works.

If, since it’s in Podio, we can see all of our leads in there. We could always go in if we wanted to, to our old leads and see, okay, when was it sold and who bought it and go through records.

Yeah, it may happen, but –

Sean Terry:        You can’t worry about that. You just, that’s a scarcity mentality. Oh my gosh, someone’s going to go around you. It will, if it surfaces, you just handle it if comes up. I don’t think you, oh my gosh, I’ve got to all these, I’ve got to put all these constraints on it to make sure that, or to make sure you’re completely covered.

That’s the transaction from start to finish. It’s worked really well  with these guys and how you get paid. I think it’s scalable, it’s completely scalable. You don’t have employees, you work with these wholesalers across the country. Your job is the marketing. So let’s talk about your role when it comes to picking the list and marketing.

We talked about outsourcing that too.

Joe McCall:       Right. I do, I am involved with making sure the marketing is going out, tracking our response rates. Making sure I talk to my wholesalers all the time. How’s it going. Is Mark, the VA, doing a good job pre-screening. Are you getting the right questions answered. Is he asking the right questions, what else do you need. We’re constantly communicating. The other cool thing is, he’s always telling me, hey Joe.

I just did a post it note campaign. Bomb. I did get one deal out of it, but a complete waste of time.

Sean Terry:        Yeah, I don’t like post it notes. I don’t like that people call, what’s that, every door direct mail. I spent 10 grand on that and bombed.

Joe McCall:       I get that feedback from these guys. He’ll tell me hey. We co-wholesale deals, too. We refer deals to other agents. By the way, I’m starting a wholesaling group here in St. Louis, of other wholesalers. The whole purpose it just to share each other’s deals.

IF you have a deal that you don’t have a buyer for, maybe I have a buyer I don’t have a deal for. Let’s put them together.

Sean Terry:        Yeah, network.

Joe McCall:       Let’s network and co-wholesale deals. We’re not going to share secrets, but it’s just a … You have to be invited to be in the group. These guys, the cool thing about working with these guys is, they already have a huge network. They already have a, they were already working with the best realtors and the best title companies.

Sean Terry:        Where do you see, so you see this as a business model for you, as something you can scale, and where do you see it going in three years.

Joe McCall:       I’d totally see it as something I can scale.

Sean Terry:        You change your models a lot.

Joe McCall:       I do.

Sean Terry:        You change your, you know. You’re always testing and refining and make it better. I think, what the cool thing is, you’re always trying to find ways to minimize, use your brains, your intelligence, to be able to maximize other people, and do what you’re best at, and what you’re best at is driving leads, and then having other people around you that can take a lot of the work off.

Otherwise, there’s no way you could travel for 10 weeks, it was 10 weeks, around the country, all of the places you went with your family.

Joe McCall:       Six kids.

Sean Terry:        Yeah. With 19 kids, all under the age of two. But the cool thing is, that I like about this is that when you’re driving around the country like this, you’re not having to be in front of the computer, you’re not, the cool thing is you have Podio on your iPhone or Android, or whatever, which is great.

The you can plug I your headset, your iPhone headset there, and you can get on the phone and then you can start, you’re just talking to wholesalers, making sure, answering questions, this, that and the other.

Talking to your VAs, making sure that … So you’re just communicating with everybody, making sure everything’s aligned, making sure there’s no problems, and as you’re driving down the road to the next destination.

Joe McCall:       You’ve nailed it. And here’s the thing what I did. I decided to look at my life. What kind of life do I want to have. I’m big on, I don’t remember where I got this, but instead of saying things like I could never afford that, or I could never do that. Change that around and ask the question, how could I afford that, or how could I do that.

I created a vision for my life. My family, God, family, country, are the most important things in you, right. I said, all right. Now, I want to spend a lot of time with my family. I don’t want to be the absentee dad. I want to have breakfast and lunch with my kids. And dinner.

I want them to see the world. We home school our kids. We’re not like anti-public school. We’re just so pro-home school. We’re hiring a nanny, believe it or not. This starts next week. It’s a lot of work, it’s not for everybody, I’m not saying. We can do that.

I look at my entire list of all the things I have to do, or that I need to do, and I ask myself one simple question. How can I get somebody else to do all of it for me. How can I do none of this stuff.

I’m constantly asking myself that question. The vision for my life is, I want to be home, I want to take lots of trips. I don’t want to make a million dollars a year. I want to be home for my family, and I want to take a lot of trips. We’re going to go to –

Sean Terry:        My, this has been my question. How can I build several hundred million dollar companies, that do a hundred billion dollars, maybe collectively, and then still have the lifestyle.

Joe McCall:       You’ve got to start with the lifestyle first, Sean.

Sean Terry:        Huh? Oh yeah. No, no, I do. But if you want to have the lifestyle, and do a hundred million dollar company, then it becomes structuring and finding the right key component people. I have friends that have hundred million dollars companies, that work less than I do.

Joe McCall:       I bet if you asked them what they did, they first decided, all right. I’m going to figure out the vision for my lifestyle. What do I want my life to look like, and put in on a calendar. And say, all right. I want to be home during these days, I want to take Wednesdays off, Fridays off, whatever. I only want to work three days a week.

Then design a business that does that. You design your life first, then you design a business that fits there. So many of us have it backwards. We first create our business, and then we try to fit life in around that.

We leave at six in the morning, get back at six at night and then whatever’s left, our family gets whatever’s left.

Sean Terry:        Yeah, gets the leftovers, right.

Joe McCall:       Let’s flip that around. Your family comes first, then your business comes second. For us, we decided, we want to travel around the world. We’ve been to Prague, we’ve been to Mexico and Jamaica, we’ve been to Alaska and all over the country.

How can I have a business –

Sean Terry:        Yeah, all this stuff, and how can you create business. Then that brings you to, instead of having employees and an office and stuff like that, it brings you to the point of leveraging other people’s expertise.

Joe McCall:       Then you’ll find out you really need a hundred million dollar a year business.

Sean Terry:        It’s just for fun.

Joe McCall:       Do you really, if you designed your perfect life, do you have to make a hundred million dollars a year to get it. No.

Sean Terry:        The interesting thing is, and it’s not essentially for me, it’s generational. I’m looking at my kids’ kids down the road.

Joe McCall:       Yeah, so everybody’s different. There’s nothing wrong with having, wanting a hundred million dollar a year business. Absolutely nothing wrong. But you need to ask yourself –

Sean Terry:        What am I going to do. I’m not going to retire. I’m 44. I’m  –

Joe McCall:       I know you well enough, you’re so fidgety. You’re always moving around doing a hundred miles an hour. You could never sit still.

Sean Terry:        No.

Joe McCall:       No. It’s about your personality. I’m more lazy than you are, and I like, I don’t like having an alarm clock.

Sean Terry:        You don’t even shave. (laughs) We’re, for guys, we’re on Skype video right now, so we’re talking, he’s like, rough masters.

Joe McCall:       It’s a, you’ve got to ask yourself the right questions.

Sean Terry:        The cool thing is, we both do real estate. We both do deals. We both send post cards. We both target lists, we both have buyers and sellers, and stuff like that. Complete different business structure, and we both have, I think great, when it comes to lifestyles and people have the freedom to do the things we want to do, but it’s amazing.

Complete different business models, and they can scale in complete different ways. You can still send two or three or 4,000 mailers a month if you want. And you could do it in 10 different markets.

You could have the people and you could have, instead of having one or two, you could have one or two people in each different market that are competing against each other who’s going to do, whoever gets the most leads, whoever gets the most deals out of the leads they send, you’re going to do great.

You can scale it to as big as you want it on each business model that you have. It’s pretty clear.

Joe McCall:       I also love teaching and coaching, so that’s something I’m pretty passionate about. You have to ask yourself, what do you love doing. What are you good at. I’m not good at talking to sellers and building report and on their kitchen table for an hour and a half. That would kill me. I would hate that.

There are other people that are. I love –

Sean Terry:        You can make the phone ring, you love teaching it. That’s awesome.

Joe McCall:       I also have a business that allows me to coach people and teach, do podcasts, while I’m traveling the world too. You’ve got to have multiple different streams of income. I do deals, and I teach and coach.

All right, now ask yourself the question. How can I, it’s about the sweet spot. Sean, you’ve got to read this book called The Pumpkin Plan. Have your heard of it?

Sean Terry:        The Pumpkin Plan? Is it from the Peanuts?

Joe McCall:       No. It’s called The Pumpkin Plan.

Sean Terry:        I just remember Peanuts and the pumpkin patch, you know what I mean. Linus goes into the pumpkin patch, and …

Joe McCall:       No. I don’t have it right here where I can grab it. It’s a fantastic, it’s a guy who wrote the book, The Toilet Paper Entrepreneur. Mike something, I can’t pronounce his last name.

Sean Terry:        It’s called the Pumpkin what?

Joe McCall:       The Pumpkin Plan. Oh my gosh. You’ve got to read this. Everybody listening to this, your assignment is to go read this book. It’s about how pumpkins, how pumpkin farmers and vegetable farmers raise these giant prize winning vegetables.

It’s all about getting the prize seed and then when you plant that pumpkin seed, you find the one branch that has the giant prize winning pumpkin in it, and you cut everything else off, and you focus all your attention on that one prize pumpkin.

It’s looking at your business saying, it’s the 80/20 principle. Where am I spending 80% of my time getting 20% of my revenue results. Cut that off. Where am I spending 20% of my time, getting 80% of my results.

It’s being focused like a laser beam on the most profitable part of your business, what you’re good at.

He also has something in there. He talks about the sweet spot. I’m going off of memory on this, but there’s your best customers, there’s your automation, and then there’s, oh, I forget. It’s so good. There’s three things, and if you only have two of the three, you’re missing out.

What I’ll do, another bonus we’ll do for your podcast, Sean, here, I’ll send you a screen shot from the book of this diagram. It’s really, really good. But you need to know in your business, what’s your sweet spot. And you have to, your sweet spot is a combination of these three things.

Okay, I remember what it is. It’s something that’s unique, it’s your best customers, something that can be automated. What, in your teaching business, in your deals business, who is your best customer. You have to know who that is, and fire everybody else.

You have to have something that’s unique. What are you doing that is unique that no one else is doing.

Sean Terry:        Let’s relate this to you, in your business model. Unique, you have the ability to drive massive amounts of quality leads to somebody. Who’s your best customer. Your best customers are your wholesalers, that’s who you build a relationship with, and you have the ability to automate that portion of the process because these guys are professionals. They run a business that’s successful.

You have a way to automate your other part of the business, the phone calls and all that type of stuff.

Joe McCall:       You nailed it. That’s my giant pumpkin right there. I focus all of my energy on that sweet spot and I’m going to raise a giant pumpkin. It’s going to be huge. It’s not, you’re not chasing the little bunny trails and shiny objects, which I’m still, I still have a problem with that. Squirrel!

You’ve got to read this book. It’s so good. It’s finding out who your best customer is and firing everybody else. What’s your most profitable venture in your business, and then just focus like a laser beam on that one giant pumpkin.

It’s a really easy book to read. I highly, highly, and it’s similar to that other book called The One Thing. Which is another great book you should read. They’re both kind of similar, but The One Thing is, everyday sitting down and saying, what is the one thing that I could do today, right now, that if I did it, makes everything else either unnecessary or easier.

We all have that one thing in our business, whether it’s gardening or whether it’s flipping burgers at McDonald’s. What’s the one thing that can make you and your business more profitable and give you the freedom of lifestyle that you want to have. Then just focusing like a laser on that one thing.

Sean Terry:        I think, Joe, this has actually been a great interview because I teach my business model, and what the business model that works for me and it works for, when it comes to employees and stuff like that. But it’s great for the listeners now, and obviously, you can, Joe has his real estate investor mastery podcast, that is phenomenal, that him and Joe do a great job on. I mean, him and Alex do a great job on.

It’s cool to see how you just broke down your entire business model and be able not, you can be completely mobile. You can run this thing from a Starbucks. You can, you don’t have to have an office. You don’t have to have a bunch of overhead. You can rely on other great wholesalers that are professionals that can do it.

The cool thing is that now people can listen and maybe they can do a hybrid of both. Maybe they can have, in a national markets, build relationships with wholesalers to do on a national level, and then in a local market, have hired employees do it.

I don’t know. Or, you could just do it all your way that’s able to do it. For people getting going, the cool thing about this business in real estate, there’s so many different models. We’re just talking about wholesaling and doing deals, excluding getting rental properties, commercial properties, land acquisition and all the other, bigger things.

I think it’s been a great interview, giving people perspective on what they can do and what they can’t do, so it’s been good.

All right, so where are we going to send these. I know you wrote a book and it is Brilliant at the Basics.

Joe McCall:       Dot com.

Sean Terry:        No, it’s freebasicbook.com, right?

Joe McCall:       Yes. Freebasicbook.com. It’s a book we wrote. It’s free, but you just pay shipping and handling. It’s like a hundred and something pages, ninety three pages.

Sean Terry:        You showed me on video, so it looks pretty thick. A freebasicbook.com, and what is like three of the key killer elements that people can expect to read in your book.

Joe McCall:       Marketing, automation and delegation. It’s about keeping this business simple. Maybe what we talked about is real complicated to some people, but it’s really not. It’s really simple, and it’s breaking the business down to the most basic elements and becoming brilliant at those basic elements.

Sean Terry:        What we talked about, this whole thing, is your process of doing it. In the book, it will explain marketing.

Joe McCall:       Yes.

Sean Terry:        It’ll explain –

Joe McCall:       Right. Same marketing we’re doing.

Sean Terry:        Same as that marketing. Explain the automation, and tell me about delegation.

Joe McCall:       It’s about finding VAs. It’s about building your team, and then creating a system that you can delegate out really easily that are repeatable. It’s not rocket science. It’s really simple. We talked about in this book, just being brilliant at those basic things, which I believe the three fundamental things you need to be brilliant at, are marketing, automation and delegation.

Those are the three main sections of the book.

Sean Terry:        Okay, I like that.

Joe McCall:       Real simple.

Sean Terry:        Freebasicbook.com, freebasicbook.com. What we talked about in this whole interview is, can be broken down into a book and then pretty much categorized into three areas that you can optimize, which is cool.

Joe McCall:       I’m going to sent you something too, Sean, that video on how to get those cash buyers by zip code from Listsource, and I’ll send you an image of the pumpkin plan thing. Hopefully it won’t get busted for copy writing.

Sean Terry:        Yeah, we’ll be fine.

Joe McCall:       It’s so good to think about what’s your sweet spot in your business. What is something you can do that’s all three of unique, it’s automated, and it is your best customer. If you can combine those three things, it’s really, really powerful.

Sean Terry:        Cool. Joe, thank you so much for your time. You did a awesome, awesome job, and I think we pulled out some pretty killer tidbits on how you go out and do deals. Guys, listen, Joe McCall, freebasicbook.com. You also can search him on iTunes under real estate investing mastery podcast. It’s one of the highest rated podcasts in iTunes, he does a great job with him and Alex Joungblood talking about all the different things. They have great interviews on there which is awesome.

Joe, any last words for the people that, before we cut out here.

Joe McCall:       Don’t be afraid to dream big. Don’t be afraid to dream big. I remember thinking it a long time ago. I could never travel to Prague, much less with a family of 10 kids, I could never go to Prague.

Here we are. We went. I could never get an RV and travel the Northwestern part of the United States. I could never take a cruise to Alaska. We’ve taken two cruises this year, Sean. One thing I didn’t even talk about is our transmission burnt out on the third day of our trip. Seven grand. I didn’t put it on a credit card. I paid cash.

It was so awesome to not have to freak out and worry. How did we get there. Well, we dreamed big. How can we do this, how can we take a trip. Next year we want to go to Europe for three, six months. How can we do that. Then you start building that. Slowly, maybe. You start building that up, and think how can I get someone else to do all this stuff for me so I can have a location independent business.

I can have the stress free, abundant lifestyle. You don’t have to make, part of this is also just getting rid of your debt. Getting rid of as much debt as you can. If you have zero debt, you can live really high on the hog on just 10 grand a month. And making 10 grand a month is easy.

If you think about what you can do. We’ve been doing this long enough, we could do that in our sleep, but somebody’s out there thinking, oh, I want a million dollar a month business. Do you really need that. Maybe you can have the lifestyle of your dreams just making 10 grand a month. How easy is it to do that. It’s not hard. Dream big and think about the lifestyle that you want to have for you and your family. That’s my parting advice.

Sean Terry:        That’s awesome. Okay guys, thank you so much for listening to this. Make sure you go to freebasicbook.com and get your free book from Joe, Joe McCall, and he will have this information up. I’m excited to hear it, and excited to see it. We will sign off. Take care, Joe.

Joe McCall:       All right, man. See ya.

Sean Terry:        See ya.

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