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All Forum Posts by: Mohit Madaan

Mohit Madaan has started 15 posts and replied 155 times.

Post: Cold Calling vs. Direct Mailing Differences or Fear

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49
Originally posted by @Curt Davis:

@Mohit Madaan

No one is hand writing letters, putting stamps on them, licking the envelope and taking them to the post office anymore.  There are companies like Yellow Letters that do all of it for you.  Send them the script and they do it all.  

When someone calls you back from a direct mail campaign you know they are at least interested in selling their house.  

Everyone has their different way to do this so there is no right or wrong thing here, I just choose to value my time more. 

Curt

 Exactly my point, if you are not hand writing the letter why would you sit down and finger dial the phone. Makes sense?

You can use speed up your result in cold calling using a predictive dialer just like you use companies to send all for you.

I agree with you about valuing your own time, but to be fair you are buying leads by selling yellow letters and choose not to talk to hundreds of people by avoiding cold calling.

You can do the same thing by hiring a cold caller, have them transfer only the interested customers to you.

Mohit

Post: Cold Calling vs. Direct Mailing Differences or Fear

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49
Originally posted by @Ryan Dossey:

As someone who has worked in call centers for years I can tell you why I disagree with your analogy. If you've ever taken in bound calls off of a piece of direct mail than you will know that the lead quality is 100X better than cold calling. It's not like you're trying to sell steaks, or gutters, or even roof replacements. You're going to be cold calling people out of the blue asking if they want to sell you their home. 

I would imagine you would get tons of complaints/people upset about how you got their information. As well as you need to watch the FCC new rules regarding auto dialing. Your calling thousands of people a minute idea is out dated. That's not how it works. You can't leave pre recorded messages unless you follow very strict criteria and the fines for a single violation of the DNC database run tens of thousands of dollars. 

Auto dialing with pre recorded message when some one answers the call is definitely not right and is illegal for the most part, but auto dialing and leaving voicemail on answering machine is still doing great and is workable if you just follow the guidelines and i think the answering machine one generate far better leads, since customer called you after listening to your voicemail.

You can't really make mistake with DNC database and you shouldn't. You can get fined for tens of thousdands of dollars for alot of other things in real estate and this just happens to be one of them. It's an easy thing to manage and just manage it right. The DNC database is updated every month and you are required to not call anyone who is on the most recent DNC database (both federal and state). Get a software for $70 like Scrub DNC and upload both DNC files (federal & state) in to that, you will have a few million numbers that are on those two files.

Now, when you are ready to start making calls, make sure to scrub your list against those two files, usually takes 5 mins and you are good to go.

People will still tell you, they are on DNC, be polite and hang up and you are 100% covered

Feel free to PM me anyone, if you need most update DNC list (both state & federal) for free obviously

Post: Cold Calling vs. Direct Mailing Differences or Fear

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49

The difference between the two is mindset.

You said, you'd take the latter but not everyone has money to send those mailers and get those 2 calls every hour. Cold calling works great for people who want to invest time vs money.

Post: Cold Calling vs. Direct Mailing Differences or Fear

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49
Originally posted by @Curt Davis:

Direct mail allows you to hit a larger number of people faster then making phone calls.

with all due respect, i Completely disagree!

If you sat down to make tons of phone calls vs Writing tons of letters, you will speak with more people on phone anyday than hoping some will call you back when they get your letter.

Now, if you are talking about using a third party company to Send the mail for you, then you can do the same thing with dialer companies that will make thousands of calls for you (every minute) and leave voicemails to customers answering or connect them to you when they answer the phone so you speak with 50 people and hour rather than 6 an hour or even better, connect you to consumers who showed a little interest in your telemarketing call.

In reality it comes down to these things:

Do you want to send letters and wait for calls and speak only and only with people who has some interest in what you are offering or Can you talk to tons of people, who tell you to f off, not call them etc before you find that one customer who genuinely is glad you called.

For me, i would choose the later because i like to control my own destiny and make things work. I personally do not like the idea of "i will send letter and hopefully people will call back"

But hey, that's just me

Post: Trulia Software Developer, New to Real Estate Investing

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49
Originally posted by @Jayden Hakunti:

Awesome. Might I recommend investment in the central valley manteca Modesto Stockton area. It's a short drive or 30 min helicopter ride from SF to keep an eye in your investment. 

 Jayden, is there a particular reason you like this area other than the fact is easy for OP to keep an eye on the properties?

In other words, would you recommend the market to some one a bit far, say Bakersfield or even LA area?

Post: San Joaquin County California Sinking?

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49

Check out this podcast on NPR Planet money that suggests if nothing is done for this, there won't be any water in California in about 40 years.... pretty depressing stuff if you pay attention to it

NPR Podcast 640 Bottom of the well

Post: Wholesale or Flipping?

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49

Welcome Miguel, what is your plan on action from here on other than learning as you start?

Post: San Joaquin County California Sinking?

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49

Isn't that a problem all over California?

Post: Free list for fellow members to generate leads

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49
Originally posted by @Alberto Camacho:

Offer still on the table? How can I get a list for my area?

 Sorry, this was a long time ago

Post: Is Bigger pockets hit by some sort of virus/e-attack?

Mohit MadaanPosted
  • Investor
  • Stockton, CA
  • Posts 167
  • Votes 49

I am sure most of you know, when you go to Recent Forums on bigger pockets, all you see is tons of new posts in foreign languages and accounts that are probably spam or either closed.

Just want to make sure Admins know and would like to offer any help to fix this

@Brandon Turner@Joshua Dorkin