All Forum Posts by: Johnny Kang

I'd definitely be interested. Thanks for initiating this.

@David Wurzel

If you're looking to have VAs make calls, bettervoice . com has "stats" section, where you can get reports on the # of calls, duration; it's a web based platform and all the VA needs is a headset/ear plugs with a mic. you can also record the calls so you can help your VAs if they get stuck on certain objections/questions they're not sure of. This platform also allows you to send & receive texts.

@Larry Higgins

Made total sense. I appreciate the in-depth answer. Thank you so much! 

@Larry Higgins

Great, detailed info!

I just started testing out Voicemail drops using Slybroadcast, which also lets you upload contacts via Excel. I know you're more into using an autodialer, but from an organizational stand point, what I was curious about was how you go about keeping track of which numbers you were able to reach, which ones to follow up, etc if you're using an Excel sheet? (Normally I use my CRM when I cold-call, but the initial set up of campaigns on Slybroadcast is easier if I do it off of Excel, but creating a follow up system is very cumbersome).  

The other question was, if you think you get better results cold-calling using an autodialer vs. VM drops (not sure if you have experience with VM drops).  

@Amy E.

This thought just came to me; maybe you can take a picture of the wall paper, get it as close to real-life true color & size, take it to Staples and have it printed in color and use that as your wall paper. Just a thought. 

@Steve Smith

I was in finance for 8 years and had my series 6, 63, and 26. Essentially, you're comparing apples to oranges. When you dollar cost average (DCA) using the typical 401(K)/Roth IRA in which mutual funds are used as the investment vehicle, you're doing it pretty much within the pre-determined investment strategy a particular fund manager is obligated to abide by, outlined in the prospectus. Hence, when you DCA, the performance of the chosen investment does not change; just the price you bought it at.

The performance of a property, however, can differ depending on how you operate it as an investor. A property purchased at a low price does not necessarily mean you'll be profitable, nor does a property purchased at a high price mean you won't be profitable. Each property's performance differs, as does the investor's performance running that property. 

So to answer your question, "would it make sense to systematically purchase 3/4 units per year," the answer is no. Each property has to be looked at individually, while you continue to increase your ability to get the best rate of return as an investor. 

@Justin Silverio

"Super List"; I like that!

@Cody L. I think it's mostly from not having the pain of "wasted" marketing dollars. They haven't done enough of it, so they go with what they heard on the podcast and think it's going to work, or at least hope that it works and never course-correct. 

@Don Chambers The spreadsheet @Jonathan C. had on his post, which I put a link to, has different categories he mails to. What you want to do is start thinking outside the box, and put yourself in the seller's shoes and ask yourself, "If I'm a property owner, what situation will make me motivated to sell?" That's when you get creative and start coming up with ideas on who to mail to. If a lead source has been mentioned by someone on a podcast/book, you're already working a diluted lead source. I'm sure you can come up with a few. And remember, direct mail is only 1 method. There's various methods to talk to sellers, but master one, before you move on to the next. 

@Ray LaiThanks. Yeah, it's like anything else, right?; the better you get at your craft, the more you can make. I'm constantly trying to hone in on the operations of how things need to flow in my business. I love Elon Musk's concept of Building the Machine that Makes the Machine. I never heard someone put it like that, but it just makes sense. You can crystallize what needs to take place to make something work better, faster, more efficient. I can't wait for my friend to automate the data-mining process. 

I was using yellowletter.com, but after listening to @Justin Silverio's podcasts, I'll be using his company. They use colorful envelopes which make it stand out from the standard yellow ones. 

Geesh, if I can get 15%~18% response rate, I'll be where @Cody L.'s at in his career by next month, lol. I already got a few ideas after reading Cornelius' post. Good stuff. 

Hey @Don Chambers

Before you continue sending letters to the same list every month for a year, you might want to read this great post by @Jonathan C. regarding his results from sending 140,000 letters. If you look at where the bulk of his transactions came from, Absentee list from a percentage basis, make up .04% of total transactions. 

@Justin Silverio was the guest on Eipsode 58 & 194, and he talks about learning how to create your own list. Last year, I spent $24,000 sending letters to Absentee list and got zero deals from that list. Believe me, by month 5 & 6, if you're still not seeing results, you'll be second-guessing yourself everyday while you're still spending money. (Now granted, 3 months prior to that, I closed 2 which more than paid for the $24,000 I ended up spending so it wasn't horrible). Everyone is using Absentee list, so you have to stay ahead of the game.

Secondly, see how you can increase your response rate. @Cornelius Garland had some great answers on branded v. clustered marketing, getting 15%~18% response rate. You'll eventually learn how to calculate your profit, just by looking at your response rate (because you'll figure out appointment set ratio, offers made ratio, close ratio, average profit/deal).

These are some of the most seasoned guys I know when it comes to direct mail. 

So:

1) Learn to create your own "Motivated Seller's" list. 

2) Learn how to increase your response rate by split testing to see what works for you in your market.

Put your money to work, and don't go in this thing blind. Hope that helps. 

@Cornelius Garland

Thank you for expanding on this. It was very helpful. If you're open to it, I'd like to keep in touch and talk shop with ya down the road.