Welcome, friends, to my podcast series that’s all about wholesaling houses… flipping houses using no cash, no credit. Yep, it most definitely can be done!
In this episode, we’re talking with a guy who has worked hard and made super-smart decisions to be successful in REI. From barely making end’s meet, he’s powered through the St. Louis market and is killing it as a full-time investor doing co-wholesale and wholesale deals.
You’ll hear his truly inspiring story of how he got to where he is today – through marketing and networking. But best of all – he’ll share with us how you can basically build a buyer’s list almost overnight. Seriously, this strategy he tells us about blew my mind. This idea is gold, friends.
Listen and enjoy
What you’ll learn
- Specific things that Anthony implemented to increase his revenue so dramatically
- How Anthony structures his co-wholesale deals
- The surprisingly brilliant resource Anthony uses to build his cash buyer’s list that Sean never even thought about
- Who Anthony reached out to to learn the ropes of REI and how he found that person
- The conversion rate when Anthony sends a contract while still on the phone with the seller
- Key things that have enabled Anthony to get the sellers to agree to the deal when he’s at the appointment with them
- When and how to use REI education to your highest and best advantage
Mentioned in this episode
- Sean’s updated site and book and register for his webinar: Register for the Webinar Here
- Anthony’s REI site: St. L Wholesale Deals
- Meet Up
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Download episode transcript in PDF format here…
Intro: Welcome to the Flip2Freedom Podcast, I am your host Sean Terry.
Sean: Hello again, this is Sean Terry from the Flip2Freedom Podcast. And we are on episode number 126, and holy cow I got an amazing interview for you from a guy name Anthony Price out of St. Louis. And he drops one of the most ninja bombs that I have ever heard of doing this for close to 12 to 13 years on how to build a buyers list almost overnight. It’s amazing.
All right, Sean Terry here back with another awesome interview with the man out of St. Louis killing it, Anthony Price. What is up, Anthony?
Anthony: Hey, what’s going on everybody?
Sean: So you’re online with thousands of people listening to you right now and I love to have these…
Anthony: Don’t say that.
Sean: Well, I would love to have these stories because it truly inspires because a lot of people they might hear from me or like we’re just talking about Joe McCall or some of these other people on the podcast and they go, “That’s them but what about the guy that had a job a couple of years ago and got started and had some struggles and how are they doing?” So this you’re like the perfect example from I know in a competitive market but then it’s just killing it, so how you’re doing?
Anthony: Doing great, Sean. The New Year and everything rock and rolling and the marketing now this and that, getting my system, building my streamline than what they were last year, just tweaking things. I have been doing it for a couple of years now. So now I am in a mode of getting more marketing out there, getting more leads coming and just tweaking everything like crazy, just streamline and make a little bit easier.
Sean: Cool, cool, all right, so let’s talk about the results. I want to start doing this now in our podcast. We talk about specific results, then we can dive into those results and so people can take actionable things from the podcast so they can apply that helps you succeed. So the results are revenue. What did you do for revenue in 2015?
Anthony: Yeah, so I finished year out $162,000 that year.
Sean: Okay, so $162,000 in 2015 which is killer. Now let’s go back in what did you make in 2014 if you remember?
Anthony: Oh man, $60,000 I think.
Sean: So you increased your revenue by $100,000 in 2015 wholesaling. Is this your full-time gig or do you have another job or this is it?
Anthony: No, this is it. It’s all or nothing now.
Sean: Boom, okay. So now if you look back in 2015, right, what are like two or three the major shifts that you made in 2015 to increase your income $100,000 in that year? So if you look back at where you were, let’s say a year ago, and if you could try to pinpoint two or three different things you did in 2015 that have increased your revenue, what would you say those be?
Anthony: So when I very first got started, I made $60,000 just doing co-wholesales. So in 2015, I actually started doing my own marketing, so I was doing direct mail, I was doing bandit signs, a little bit of Google Ad Words here and there. Yeah, I would just say mostly it’s just constantly and consistently just doing direct mail and getting that out there. I mean different with not just one but multiple ways and different types of mailings.
Sean: Okay, so in 2014, you did $60 grand without marketing. Is that what you are saying?
Anthony: Right, yeah, I did all with just wholesaling. I was always really good at selling properties. I had a big buyers list already, so I had already had buyers, so when I asked them to co-wholesale in a known market and if they need help, and luckily they did and made $60 grand just helping them with all their deals and it was really easy.
Sean: Wow, okay, so for people that doesn’t know what co- wholesaling is, what is co-wholesaling?
Anthony: So you talk to a wholesaler, they already have the property under contract. And then you just find the buyer for that property and you just split the commission. You split the final P or the double closing. You just put it 50-50 and that’s it. You bring them buyers, they got the deal and you close on it.
Sean: Wow, okay so the cool thing is there’s no marketing upfront involved, unless marketing a few buyers list. You build a relationship with other wholesalers and you sign some sort of contract with them an option with them. What do you do?
Anthony: Yeah, we did it an auction from real great friends of mine that I trusted. They closed on it and they would give me like a marketing fee or something like that on the side to the title company and the title company would come here and check directly.
Sean: Right, right okay cool. All right, so that’s co-wholesaling and up to $60,000 in revenue. So now the question becomes your buyers list. How did you get such big buyer’s list?
Anthony: Well, when I first got started, I was apprenticing and bird dogging for another investor here in the St. Louis area. And so I was constantly now selling his property that he would get off the courthouse bet in the MLS. I didn’t know the first thing about finding deals so he would get the deal and I would just sell them. I would get on sites like Meetup.com which is a huge advantage for people that don’t have a buyers list because there’s already a pre-made buyers list ready to go. You just join the local REIA meet-up. And then we had the mailing list in there that we can mail to the whole group. And I send the property out that way and get it sold pretty quickly, so I got really good at doing that.
Sean: Very smart.
Anthony: Yeah, I would also do direct mail to buyers, people that have bought a property in the last 3 months, paid cash. I would do a little bit of direct mail to those people, and then just word of mouth, networking and stuff like that.
Sean: I like that, so meet-ups, that’s a first time I have heard that one where actually building a buyer’s list, so explain that a little bit more in detail how you did that.
Anthony: Oh, and I still do it to this day so I get on there. You just go to MeetUp.com; you need an account, type of real estate. And it brings up all these real estate groups in your market and I just joined the bigger ones there. So what I would do is go in there, I will say, “Hey, anybody looking for wholesale properties in this area? I get great rental wholesales all the time. I get rehab deals all the time. Go to this website which would be my squeeze page, it will direct to my squeeze page.
They will sign up, doing that on my buyers list and stuff like that. So I’ll send a… And I have got about 5 MeetUp groups in my market that are big in size. I will go in there once a month, send that out, get some new buyers, fresh buyers. You always want to keep your list fresh because buyers going to die out every now and then. They pull up their inventory and it kind of fall off and that so I always try to refresh my buyers list no matter what. If I do that, just market then, tell them where my squeeze page is and sign up that way.
Sean: Okay, so you would actually go into the MeetUp, join the meet-up in the comment section where make a comment. So you comment and in that comment would go to everybody in that group, is that correct?
Anthony: I do that. That’s called the discussion board where you can actually post the discussion. And I do that too but a lot of people don’t like to take the time going there, clicking on it. It comes through the discussion board and look at your post, whereas I go in there. And some meetups actually have an email link that you can copy and paste to your sent email where it will actually e-mail out to everybody in that group, so it’ll hit their email directly versus them having to login themselves to MeetUp, go to this discussion board, and some series of things and hopefully they will see your ad, whereas I actually email out to the entire group and it will email everybody in that group. And so that is a good way of making sure they actually get it and they see it, and the opportunity to go to my page and sign up for the wholesale properties. Or if I had a property I am trying to sell off, also send it out on MeetUp. That way, it goes to everybody in that real estate group. There are always buyers in real estate groups looking for dealers so it worked out well.
Sean: And so this link, this e-mail link, is it pulled out of MeetUp, and then you put it in your own platform like your mail, like Outlook or is it something that you do inside of? So they have this mail link inside of MeetUp that you can capture, copy and paste the link, put it in your Outlook for an example. And then send out a particular property or dealer something like that?
Anthony: Correct, yes. So you just go to like… like right now I am on it. You just click on whatever group you’re in. I click on discussions tab and will drop down a message board or mailing list and it says email the mailing list at. And then it’s like for this one, it says The Spirit of St. Louis Real Estate Club List@Meetup.com. So you just copy and paste that into your email whatever you use provider. I use Outlook. And I just put that and send it to… there’s 372 people in this list, so it will send it to 372 pre-made buyers for you.
Sean: Hey, Anthony.
Sean: Can I just tell you something?
Sean: That’s brilliant! That is brilliant, that is gold dude, that is absolutely brilliant, brilliant, brilliant, brilliant.
Anthony: Yeah, so I mean that’s just the way I had a… When you’re not bringing deals, and the only way I can use money back in the day was to sell property. I had to get really good at selling properties and finding buyers. And so that is just one of the things I always did and that was only an example, 372 buyers in this one group. I mean there are groups out there; there are another couple of groups. I mean they had thousands of buyers for you that are free, that maybe want to be on your direct buyers list. Whenever I had a property, like I said, I always get out there and I blast it on those Meetups and put it on Postlets and that seems everything else. But MeetUp is definitely a good tool that you have to use.
Sean: That is one of the smartest, slickest things I have heard in a very, very long time dude. That is ninja, ninja, ninja, ninja. I am telling you, people are listening right now and they’re freaking out. I can feel that they’re going, “Oh, my God, it’s incredible!” so that is a… And I’ve been doing this for a long time and we have… I mean I have a MeetUp group, so we have 80 to 100 wholesalers come into my office every single month and stuff like that. But I know that we can e-mail through the platform out to them but I have never heard that before.
But think about the genius of that, right? Not only you can tap into buyers locally to the big REIA groups and stuff like that, but also to other wholesalers where you can send out something saying, “Hey if you wholesalers are out there, I have got a huge list, if you are looking to sell your properties, bring them here, I can help you out.” I mean, not only can it help you in your co-wholesaling business, but it can help you to sell proprieties too. Again that is a brilliant piece of gold nugget right there that you just brought. That’s awesome dude.
Anthony: Definitely, definitely, yeah.
Sean: Okay, so I have… We got to go back. I haven’t asked you about prior to real estate. How did you get into real estate?
Anthony: Oh man, yeah, so I had the worst lot back in the day when I was younger, getting laid off from jobs here and there. I was in the healthcare for a long time as a nurse assistant. And I thought I wanted to be in healthcare, and so I figured that will be okay to always have a job. But I guess back in the days, it’s just… I just always had bad luck getting laid off. So like 2012, I got laid off again from a warehouse job making $12,000 a year just sitting at my computer. And I just, “I got to do something. I got to do something. I can’t keep doing this. I’m getting older. I wanted actually to have a life. I wanted to be able to do things.”
Anthony: And so, I was sitting on my computer and I was like, “Well, one of my family members said to me, ‘You always talk about doing real estate. How about you be a real estate agent?'” So I said, “Okay, we’ll get on YouTube and kind of see what it takes to be that. So I got on there, started Googling how to do that and on the right side of the screen and I think it was you. I can’t quite remember but I think it was Sean Terry himself on the side of the screen with some video saying something crazy like, “Make $10,000 in a week or seven days or 30 days or something like that.”
And I was like, “That’s crap, that’s never going to work’. I’m a big skeptic of all that. And I clicked on it, so thank God I clicked on it, because from there I watched all your videos on YouTube and all these great content that you had and it really helped out. I mean you were just so simple about explaining everything. I just… I was watching everything and I think about two months solid I would get up at 7:00 in the morning, sit on the computer and watch every single video and listen to every single podcast at 7:00 to 8:00 in the morning to 10:00 at night.
And I get up and I did that for two months because they told me it took everybody that long to do that. I am very analytical, I got to read everything and watch everything before I actually take action, which is just the kind of person I am. So after doing that, I got started, I contacted every big investor in St. Louis just by typing ‘We Buy Houses,” and I send them an e-mail saying, “Hey, do you need an apprentice? I need to get started, I will help you find properties; just teach me how to do this. I’m hands-on; I’ll help you find deals quickly.” One guy got back to me and that’s how I started. So I was able to move back to St. Louis and get started doing that. So I thank God it all worked out and thank God I saw your video that day.
Sean: That’s awesome and you got still.
Anthony: I could have been a real estate agent right now so I am glad I’m on the other
Sean: Yeah, it’s funny, when I got started my wife said, “You got to be a real estate agent,” so I bought all the books of real estate agents, started studying, and I was like, “It just did not feel right for me. I didn’t really want to be an agent.” Nothing against agents because my wife is actually a real estate agent herself, and for her she loves the hunt and helping people find a house. For me, it just didn’t work for me, so I am glad I kind of tripped into the investing arena. It’s lot more fun, lot more money.
Anthony: Yeah, yeah, and I am definitely glad I found something that I can build and something that I control, not somebody that is telling me when to I can go on break, or when I can go and use the restroom or when I can do this, when can I see my family or what holidays can I have off. It’s something that I can do, I can build and it’s my life.
Sean: That’s killer. Okay, so now let’s go back to beginning 2015 and let’s talk about the things you did different in 2015 to increase your revenue by $100,000. So you said you did direct mail. And so let’s talk about the… What do you believe is like your top-performing list in 2015?
Anthony: So in 2015, I made a goal to be more consistent, just with my thinking because I had to be more consistent. I was kind of, “If I make some money here, that would be great,” and then I would be broke again. You know what I mean? I do a deal then two months later I hadn’t done anything and then I’ll do another one. So I just finally said, “Screw them. I’ll put all my money together. I’m just going to start every quarter, everything in the quarter, I’m listing one, big campaign and do it that way.
So I was like, “Okay, every quarter was a big campaign,” so I did absentee owners with equity. So I did absentee owners with equity which was obviously… I mean that’s my biggest producer here in my area. I also did owner-occupied houses with high equity, and then I had messed around with some smaller ones like probate, divorce, noted some people. They didn’t really produce in my area like I was hoping to, like I can concentrate on the things that are actually worked – absentee owners and stuff like that. And then also bandit signs, trying to get those out there every weekend and stuff like that.
Sean: Cool, cool. Okay, and then would you primarily send a postcard, would you send a letter or would you send a yellow letter? What do you do?
Anthony: I did postcard just so I can reach more people with less money… That’s kind of how I did it first. I have always done postcards, which is what I love the ability to just hit on a huge amount of people versus yellow letters. It costs a little bit more; I’m sure the return rate is a lot better but this way we can get more people consistently or I mean I guess more.
Sean: More broader reach…
Anthony: With a budget. Yeah, with the budget that I was on, I can hit him more repetitive than I could with yellow letters costing me $0.70 apiece versus the postcards cost like $0.38 apiece so that’s why I chose that route.
Sean: Right. And then what about frequency? So you got a list, let’s say you have theoretically less than 20,000, what would be your frequency on that list?
Anthony: Well, in 2015, I was doing like a big list like that once in quarter. So once a quarter I would get on that, get on whatever site. I was using the mail one out and I would do like 20,000 mailers. And so I would take that and I would break that 20,000 down into like 4 to 8 campaigns where they go out once every week or once every two weeks, something like that, to where I had it at like a 1,000 or 2,000 hitting every week until the whole 20,000 was gone. In that way, one advantage is it doesn’t overwhelm me. You don’t have 20,000 hitting at one time. You will run around like, “Oh, my God!” and, “What’s going on?” and stuff like that, so that is a lot easier. Still pretty hectic but it made it a lot better to handle the volume that I was doing at that time and…
Sean: So it’s manageable, you can manage it. And so you’re essentially hitting that list 4 times a year, which is good. Okay, and then so you answered all the calls and what is your like weekly schedule look like? Did you like answer calls on Monday, Tuesday, Wednesday or did you set up appointments for Wednesday, Thursday? How is your week like?
Anthony: I answered calls Sunday through Sunday, Sean. I mean there is no break when you buy yourself. I mean if you don’t answer that call, maybe a deal has been out lot on that deal and here’s a small big city. It’s pretty competitive in direct mail. Usually a seller will call me and they’re like, “Yeah, I will get nine of these. I’m just calling down the list. And I’m seeing what your office is.” That’s the typical call I get. So I mean, if you have to be really aggressive, once you get a call and they seem motivated and then they’re within your range, I mean either I am e-mailing the contract right on the phone.
“Hey, I’m selling this unless you sign and get it back to me and we will get everything going on it,” or I’m out there trying to meet him as soon as possible. So I mean I didn’t have a set schedule: Monday, Wednesday, Friday: answering phones; Tuesday, Thursday: I am out looking at properties. It looks like Monday I’m looking, I’m answering calls. If a person calls me and I need to see the house, I’m also going out there that Monday same day and seeing the house so I can get that deal, so I can have both my business and everything else.
Sean: That’s called hustle. That’s the way. Well, people in the real estate, turn your phone off on Saturday and Sundays and stuff like that. And when you hustle, I mean think about $162,000 a year not… I mean that’s less than 5% of the population ever make that money. And then those guys make $30, $40,000 a year goes, “Do I really have to work on weekends?” I was like, “Really? It’s your business. You’re hustling man. You’re blowing it up.” If you get calls coming in on Sunday at 4:00 and you know it’s a deal, get on it, right? So…
Anthony: Right. Yeah, and I just still feel guilty sitting there on Saturday and say I got four calls waiting for me. I can’t sit there and try to enjoy my day, because I’m thinking, “Oh man, that’s a $20,000 deal right there.” But if somebody’s there talking with somebody else on the phone, I need to be on the on the phone right now calling back to see what’s going on. If it’s nothing, it is nothing but if it’s a deal… And yeah there were times that I did that on a Saturday night or Sunday morning or Sunday night and it was a deal like $8,000 or something like that on the whole deal that I could have potentially missed out on because I was like, “Yeah, I already told Tuesday to make an appointment with the man.”
Sean: Yeah, and that separates someone that is average, that someone is above average, taking that extra step. And I can’t do it either; I mean we must be coming from the same class because I can’t. If I know like… For example, this morning at 7:00, a deal came in and I knew it was a smoking deal. They wanted $50,000 for property; the stuff in there is going for $150. So I immediately sent it over to Jerri Beth and Rafael. And Rafael, that’s his territory. It says, “Listen.” I said, “Call these guys ASAP and set an appointment. It is a smoking deal,” and I give him like 10 minutes to respond back but Rafael responded back less than 5 minutes.
He said, “Okay, I’ll get him on the phone, talk to him, get appointment set today for 2:00.” So it’s that type of hustle that it takes this business because as the marketing increases, the inventory decreases. It becomes a seller’s market. Sellers have now options if they have options and someone is picking his nose and they get… Saturday night they get a lead that comes in and they’re not going to come until Monday afternoon or Monday morning, guess what? You’ve already been to the house and you already got the deal under contract before they even wake up on Monday morning so…
Anthony: Yeah, yeah, exactly.
Sean: That’s awesome. Okay, so you said that you sometimes when you’re talking to them on the phone, you get a contract over to them ASAP. How has that been working for conversions for you?
Anthony: Well, usually, if I get to the point where I say, “Hey, I’m going to e-mail you this contract,” it’s pretty much a 90% conversion just because if I feel that I can send the contract to him right now and they’re going to sign it. And then yeah I’m going to definitely make that effort and get that typed as quick as possible and e-mail it over to him. And let them know that, “Hey, this is coming in your inbox here in five minutes. Take a look at it. If you have any questions about it, please give me call. You have my number and we will walk through it with you if need be.
And then once you sign that, give that back to me. I love to meet you out at this property just to do a quick walk through to make sure there’s no big issue going on. And then if not, hey, we’re going to get this over to the title company here and they will get it closed as soon as possible for you.” And usually, like I said, if they’re that motivated where I can send them a contract like that, it’s usually 90, 95% conversion because they’re like, “Yeah, yeah, send them over,” I take a look at it. We’ll sign it, and then we’ll e-mail it back to you or we will meet you at the property with the contract, something like that.
Sean: Right, so you eliminate that entire, “Okay, well, let’s set an appointment.” Then you meet him the next day and whatever like that. You just get the contract in the inbox ASAP.
Anthony: Yeah, because I’ve lost them before and I am like, “I will meet you at the property.” And then I call back like may be an hour before the appointment the next day or something. And they’re, “Oh, I’m sorry,” and so and so because they met me yesterday or they met me this morning. I mean, I was about there this afternoon and they were already within my range, my price range. And it’s like, “Well, damn, if I would have been there, I would have just sent you the contract and you could have signed it and I could have met you today or something.” You know what I mean? Or something like that. So I just bring in the contract, “Hey, I’ll meet you there. After you sign it or just…” whatever maybe.
Sean: Well, I mean it’s smart because if you… I mean the result that you want is to get the contract so every step in between that you can eliminate is your fastest path to actually getting the result you want. And if you can get him on the phone and get him to agree on a price and once you agree on a price, and then it just becomes a walkthrough situation then great. “Here’s the price, send the contract,” boom! And then you get it in, and then you pretty much eliminate everybody else from the equation.
Anthony: Yeah, exactly, you can deal with issues if the house is on a contract. You can’t deal with issues if you don’t have it on a contract. You lost it, you lost the deal so if you can get under a contract, you have more, you can deal with things because now you safely have it under contract. You don’t have to worry about the money going in there and getting it from you because you have it.
Sean: Right, another, another awesome, awesome tip. All right, so direct mail, postcard frequency about every quarter, and then what did you say your next best marketing campaign was?
Anthony: I’m trying to just all direct and directly. I mean I try to hit that and hit that hard and hit it frequently. Yeah, like I said, owner-occupied high-equity absentee-owner but I had a couple of others and all of this going as well. I did Google Adwords kind of the half, the latter half year. It was okay, I don’t know what’s going on with it really if it’s just my market or what. But I had an actual people managing kind of manage it for me and keeping track of things. And it has been pretty competitive too online here I noticed.
I increased my budget on that, but they had already been producing kind of… It’s about thousands of dollars on average or not too much coming in so I had to pull that one down. Well, the stuff is where it works. My main thing towards for 2015 was stick to what works, and what not like cater off and do other crazy things like I keep on value packing things like that I blow off money on before and advertising on the back of every seat. So I still have done that before making thousands of dollars with no result. So I stuck with what works, what I know works and that would be in 2015 for me, just picking with what I know works and get me results.
Sean: Yeah, and it’s… And I guess about mine is that I always tell people. I said like, “Pick a marketing campaign, whether it be Google Ad Words, whether it be direct mail, whether it be TV, radio, whatever the case may be. Once you find something that works and you have direct mail that works for you, then it just becomes maxing out that channel to the max. And then when you’re completely full throttle on that particular campaign. Then you can move to other campaigns and start testing.
You know what I mean? You can move to Google Ad Words. But the problem is a lot of people get in and they go, “Oh, my gosh. I got to do Google; I got to send out 3,000 postcards. And then I have got to do this and I have got to do that. And I have got to do this…” And they want to get all the lines in the ocean so they can have that, but if they just focus on one line and making that line with the best bait possible, maxing it out, guess what? You do more business, you’ll be more focused, and then you can start adding channels down the road.
In my situation right now, we are trying to grab leads from everywhere. We’re maxed out on pretty much every single channel that we tapped into. So now we are looking for more creative channels to tap into or different markets we can max out the channel so it’s like a different scenario. Three years from now, two years from now, a year from now when you’re making, doing $1 million, $2 million a year revenue and you’re going to be going, “Okay, where else can I market?” right. It’s like where else can I just drop in 100 and 150,000 mailers a month and you maxed out on Google, and you maxed out on everywhere in the newspapers and stuff like that, then you start looking for other different avenues.
But the exciting thing is the potential is there. You know what I mean? The reach is there. I mean it’s like you are driving in first gear and wait till you’re in fifth gear, and you are going 1,000 miles an hour, 100 miles an hour down the street. It’s exciting. Cool, cool, cool, all right. And that’s been awesome advice.
Now let’s talk about your actual appointment and what has been some key things for you at the particular appointments. So you meet with them, you go to their house and stuff, and you build the rapport with them, what has been key for you to actually getting the seller to sign the contract with you versus anybody else?
Anthony: Yeah, sure, so being first involved and listening to the big thing, taking the time actually to listen instead of hear them, actually talk with them about the house, talk to them about the family, what’s going on, the stuff like that, that kind of open him up a little bit and don’t just get there and start throwing up things and there. “That needs to be fixed, that’s broken, that looks like crap over there, I don’t like this and I’ll be around $30,000.”
So you kind of want to be a little gentler than that, I have noticed, so that will help you out a lot. Explain the process, that’s another thing. I mean explain the process, it’s a lot. I mean it’s very helpful. You sit down at the kitchen table or you sit down on the couch and you just, “Hey, this is how it’s going to work. We’re going to look over this together. If you have any questions, you ask me, even when you sign it. You’re going to have my cell phone number, so give me a call anytime during the process. You’re also going to have the title company’s information. You are going to have their e-mail, their phone number, my e-mail, my phone number so if you have any questions during the process, you are going to be able to give me a call.”
And then also there’s a thousand ways we expect to close, and then you going to get cash at closing. You can send your finance or anything like that and we are going to handle everything. So you don’t need to fix anything, you don’t need to fix the kitchen or do this or that. And then also if you have any junk in the house, if you have an old couch or the basement is cluttered with old clothes or furniture and stuff like that, don’t worry about it, because a lot of sellers they’re kind of apprehensive I noticed about, “Well, I got all this stuff in the basement and I don’t know when I’m going to have the time or money to… I don’t know who or what kind of help I can get to get all the stuff out of the house.”
That has actually helped largely. “Leave anything in the house that you want to leave, take out that is all yours, but take anything. This is your property so take anything you want to take, the clothes or furniture that you want. And then anything that is junk, leave it behind. We’re going fix up the property anyway so we’re going to have it done starting here to throw away all the stuff for you and make it a lot easier for you. “Oh, okay. Well, that works, that’s really easy.” So we explain the process and how it works. It helps a lot and goes a long way.
Sean: Well, what’s interesting about that and I’m glad you said that, because this business is in a robotic checklist of what to do when you meet with the seller. If a person on the other hand, they have issues, they have a story, they have problems, they have apprehensions, they don’t really know the process and the problem is that a lot of times we go in and especially if you’re going on multiple appointments a week, you tend to forget what a person they’re going through, but if you put yourself back and kind of put yourself and almost like have empathy, put yourself in their shoes and feel that, “Listen, they’re brand-new.
They don’t know the process. They don’t understand what’s going on and if you come from that standpoint, I can tell the way you talk and the way you just explain that is that you make someone very comfortable to do business with you and you answer a lot of the unknown questions which again makes people comfortable to do business with you, whereas someone else might come in and just walks you the house and look at the repairs you know not really get to know them or their situation of why they’re selling or the problem they can solve, throw some number out in the air. And then the seller goes, “Well, let me think about it,” and then they walk out of the house. So I think that is a key critical important knowing that this is a people business so…
Anthony: Yeah, yeah, it definitely is. And it helps a lot.
Sean: That’s pretty cool. Okay, now, from when you get your contract, so when you get it signed from your seller to actually selling the property and close it, do you have any idea what that time frame is?
Anthony: My time frame on getting it closed?
Sean: Yeah, so typically your average time frame. So to give some perspective, because so when you get it signed from a seller and you meet with them and you get it signed that day, and let’s say you know it’s on a Thursday whatever, Friday, Monday whatever. And then from the time you market it and you put it out to a buyer, and then the buyer is closing it. From the contract signing with the seller to actually closing and getting your check, you know what your average timeframe is?
Anthony: I have been shooting for a week. I have been trying… That’s what I’ve really been trying to do for a while. Back in 2015, I was using a title company, and they were taking forever just to get the title work done. And it’s two weeks, three weeks to get the title working and this and that. And so I had to change it up, get a different title company that is a lot better, like they can give a title within a four-day period or something like that, a week. So I’ll try to get in, as soon as I get on the contract, I will put it up on my site. I will send it out to my buyers list, I will send it out on MeetUp, I will post it on Postlets, anything else that I can do. And then hopefully get under contract that day, and then get it aligned up to working easily within like a week and a half, kind of period, week or two weeks.
Sean: Yeah, and I think that is incredibly important for the velocity of business and with the money, how the money flows, because if you can get a deal signed, and then turn around and get paid on it a week later, that means the marketing money is getting… Basically, you return up money ASAP and the profit where then you can reinvest back in the marketing and essentially do more deals, it accelerates that entire process from start to finish, and that’s how you can double and triple your income. So something interesting right now, and you’re taking 13 days, 15 days, 25 days to go from contract to close. Then that whole time frame, if you can cut that time frame down, it’s important. Now do you happen to know your KPI by any chance? And if you don’t, that’s okay because 99.9% of people don’t. I’m the kind of freak that does.
Anthony: Yeah, yeah, no, I can’t say that I do too well.
Sean: Right. And I think going into 2016, if you really dial in on those average contract value, your cost per lead and your leads per contract, if just those three KPIs, if you dial in those, it gives you a lever that you can push to increase that revenue and which I think is cool. All right, book. What is your favorite book?
Anthony: I don’t really… I’m reading so many books right now. I’m kind of all over the place. Right now, I am reading the E-Myth for Real Estate Investors, the new book that came out by Michael Gerber and Than Merrill. I got that one going and it is a pretty interesting book. I have been liking that. I got another stuff; I am reading like 4-Hour Work Week, a lot of Rich Dad books like Cashflow Quadrant and stuff like that. A lot of those typical real estate books are kind of what I’m reading right now.
Sean: Oh, it’s interesting, the E-Myth, it comes from the perspective of the operator. Since now that you’re… I think your transition from doing everything yourself to actually having a team, I think E-Myth is probably an incredibly important book for you along with I would recommend Traction. But then knowing those key… key-employees that you need like a lead manager that can answer a phone for you. And then find some that’s going to be an outside sales person, acquisition guy, and then disposition guy.
You’re just a handful of couple of hirers away from where you get in a position where you go, “Holy cow! This is amazing!” now you built the business, you understand the process, you know the objections, you understand what conversion rate and what it takes to make a revenue, now you can then turn around and teach and train other people to where now you build yourself that freedom to take it to the next level. And you sell like… You sound obviously a really smart guy and you can now do things in your business that will increase the marketing, become more efficient. And then take it from $160,000 a year to 160,000 a month, and that’s what it takes is building that team and being able to have an awesome team. And then the cool thing is making $160,000 a month and being in the Caribbean.
Anthony: Yeah, that’s my next step. I will definitely do that. I am working on that. 2015 was just kind of get things in line and make sure it really works and kind of putting things a little bit more and use all of my systems and streamline everything to where I can grow the business and work on the business and get some stuff in place and make more revenue come in and things like that.
Sean: Right. All right, so tell me about your family.
Anthony: My family? Well, we’re all from mid-Missouri. I moved… I kind of moved in there. I’m getting a little bit of too much family here in the city. I got some family over in Illinois. The side of things just got a little reverted but…
Sean: So are you married with kids?
Anthony: Family, family.
Sean: Family, family, so are married with kids or just single?
Anthony: Oh no, I’m newly engaged. I will be getting married this fall so I’m busy doing that. Yeah, I’m busy doing that as well this year. Things gone that and stuff like that. Luckily, my fiancée, she has been very helpful with training and getting stuff online, so I can help out when I can, but I also focus on other things to get this up and going. So that way, we can hopefully retire at early age and have fun and be on that Caribbean Island and making you six figures a month and enjoy life instead of working 40 hours or 80 hours a week or whatever maybe and stuff like that so.
Sean: Right. And so, okay now, how old are you?
Anthony: 29. I’ll be 30 this July.
Sean: Sweet! 30 years old. That’s young man. Of what you got going on at that young of age, do you have any idea 10-15 years from now you are going to own the world?
Anthony: Yeah, I think about that from time to time. It’s quite when you guy started yourself, Sean, back in 2002, and where you are, and then 10 years later then look at you. I kind of sometimes just in my office kind of think like, “Wow, I’ve been doing this for three years, what is going to be like in five? What’s it going to be like in ten? If I did $152,000 in my second or third year, what’s my tenth year going to look like?” It’s just crazy to see the possibilities with it.
Sean: It’s insane, it’s insane. Your brain can’t actually even function. I mean it’s like you go, “Okay, $1.5 million parable, what would happen if I win that?” It’s like you’re ranging the key as fast and whatever. Okay, and then lastly, what would be one piece of advice you give someone that is new there and thinking about getting started. They kind of don’t know about it and they kind of on that fence and they hear you and you have been doing it for three years. You have had this success, got some great tips and stuff. What would be some good advice there for someone that can push him over the edge?
Anthony: To get started in wholesaling?
Sean: Yeah, so they’re brand new, they maybe never done a deal before or they maybe they have done one or two deals. What is some great advice you could give them that if you put yourself back, back then when you are first getting started and you are still trying to find your way what would you tell?
Anthony: Yeah, so first I would learn what the system, like how to actually get things done. If you don’t know that and obviously you’re not going to know how to get it done and how to get that check at the end of the day. Like I started listening to the Flip2Freedom podcast. That way, you understand how the contract works, how talking to sellers work, how talking to buyers work, how they interact with the title company, how to interact with just things that happen on that daily basis, getting the deal on the contract and then following the deals. So that’s kind of what I called education, and that’s the time I saw that video that day on YouTube, and I watched everything that I could.
And then I was able to… I kind of knew how to get started. And so my next action was, “Okay, well, now I need to call sellers,” so I got on and that is how I got my first deal. I just called people on for sale by owner and started talking to them until I got a guy I’m on and that was that. I was able to get the contract, and then get that to the title company, and then find a buyer and got my first check. So just education, find something to follow, find something to learn the process. For me, it was here Sean Terry and stuff, so thank you for that, Sean. I owe everything to you buddy.
Sean: That’s awesome man. And I think that’s great advice because I think education puts you in the fear… gets you over the fear of the unknown. But you did two different things, not only did you educate yourself, but then also you took massive action to go out and get that result. A lot of people go into this education mode and they just go from… That’s all they do is educate themselves but they never take action. And that’s the important thing where you learned about something and then you went applied it. And it’s almost like it’s like the education is there that will bring you to the next step, so now when it comes to talking to sellers, well, the next step is then, well, what do you do at the appointment?
Well then, you can educate yourself prior to going the appointment, then you go in the appointment. So it’s that the education shows up or is… I would rather have someone get educated while taking action instead of just going through everything, getting fully educated, and then now forgetting the steps. It becomes more… For me, I guess at least it’s when I’m applying as I’m being educated, the results come a lot quicker and I need to know what I need to know when I need to know instead of knowing everything, and then forgetting it as I go through the process which is cool.
Anthony: Definitely. I still listen to all your podcast today and all your videos and cooking art and stuff like that, so you always going to continue the education. I just listened to your other podcast that came up just the other day on getting your mind right for the New Year and staying in focus, involved with the traction and stuff like that so it was really good.
Sean: That’s awesome! Well, congratulations, Anthony. I’m so excited for you. You have done phenomenal things. Thank you for sharing all your great information and congratulations to you and your new fiancée. And I see you guys are going to get married and that’s going to be awesome. Go on a killer vacation, have a blast and enjoy yourself and don’t feel too guilty. And that’s the cool thing is as a solopreneur, you kind of get that guilty feeling because you’re not on that hustle. But I can just tell you, once you have a team built and that guilt feeling does go away and it’s a very… It’s a peaceful relaxing type of sensation so I look forward to seeing your progress and then have you come back on the show maybe at the end 2016 to see how that implementations happened so congratulations.
Anthony: Definitely. Thank you very much, Sean. Thank you.
Sean: All right guys, we are going to sign off here and thank you so much. All right, now that was an incredible interview with Anthony Price. Anthony, thank you so much. I greatly appreciate you taking the time and sharing your knowledge with that. So this is a deal, get started, get up and going. Now is the time! Now, here is the thing. We got a short video that shows exactly how to do this MeetUp ninja trick, the link, what it looks like, how to find it and you’ll find it in this episode right here. Go to Flip2Freedom.com and search episode 126 on there. Episode 126 at Flip2Freedom.com.
Watch the video on where exactly he finds the link in that MeetUp group, right? In the MeetUp. And how to do that, and it’s a killer. All right, now if you want to learn more from Anthony, if you want to purchase properties from him in St. Louis, go to StLWholesaleDeals.com. You can get on his squeeze page, you can see what his squeeze page looks like, and check it out. That link will also be in the show notes. So Anthony again, thank you so much for dropping that bomb on us, appreciate it, that was killer! Until next time guys, take care and God bless.
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