Epic Real Estate Investing - EPREI 037 : Why Your Yellow Letters Aren't Working

Episode Date: July 5, 2012

Do you know why your yellow letters aren't working? Or... not working as well as you'd like? When marketing for investment properties, the yellow letter can one of the most powerful tools in your aresenal. Like any marketing, however... there are other aspects involved that can make or break your efforts. On this episode, Matt breaks down the yellow letter and the process behind it to help you identify why your yellow letter campaign isn't working. Download Matt's free real estate investing course at FreeRealEstateInvestingCourse.com to set your life on track to achieve financial independence. Learn more about your ad choices. Visit megaphone.fm/adchoices

Epic Real Estate Investing Podcast, episode 37. Without further delay. Your guru. Sorry. Your guide to a better life through real estate investing. Matt Terrio. Hello and greetings from the Epic Real Estate Investing podcast. This is the podcast that's going to show you how to build wealth through creative

real estate investing. So you'll have the option to realistically. retire in the next 10 years or less, much less if you can place your focus on it. And so you can enjoy the good life while you're still young enough to do so. My name is Matt Terrio, author, full-time real estate investor, and family man. If this is your first time listening to this show, you're going to want to do two things. First of all, welcome, so glad that you're here. But what you're going to do, want to do is you want to go back and listen to episode one for the

ground rules of the show. And two, you want to download the free real estate investing course, how to do deals, no money required. And you can get that at free real estate investing course. It's a step-by-step course of where I unveil the mystery around doing deals with no money or credit. I mean, to this point in my investing career, I've implemented 12 different strategies of investing in real estate using none or very little of my own money. And, you know, I've actually yet to use even one point of my own credit. And inside this free course, I give you the first two strategies of which are the two that can generate the quickest success for you.

And you can get the entire course at free real estate investing course. All right. So today's episode, I'm actually kind of excited about this episode. Got a sub-title for this episode, Tough Love. Okay, this is a tough love episode. So if you're easily offended, you might want to turn this off. You know, today's episode, based off the emails, I guess, based off the emails and comments that I get,

both from the people who are participating in my free course and from members of the Epic Pro Academy as well, one of the most common questions I get, I mean, it's up there and probably, it's a top 10 question, maybe a top 15 question, but I've been getting it frequently recently. It's something along the lines of,

my yellow letters aren't working. How come? Why aren't my yellow letters working? And what I find is that most, you know, in fact, almost everybody. They jump to certain conclusions. They make assumptions. You know, either this yellow letter

doesn't work in my market. That's one of the assumptions I get. or everybody's doing it so it's oversaturated. That's another assumption. And I've noticed inside of real estate investing, actually real estate investing as a whole, newer investors are extremely quick to jump to conclusions with absolutely no evidence to support their conclusion. I mean, those two I just gave you are perfect examples.

Now, another silly conclusion that I hear is, this comes a lot. It comes actually in a couple of different forms. I hear, Matt, if everybody else has joined me Academy and they're all getting such great success and great results, how do I know there's going to be any deals left for me when I join? Or, Matt, with the great turnkey deals you're offering in Memphis, how long will you be able to provide these properties? Because I don't want to recommend you to any of my associates and you end up not having enough properties. I mean, these are the types of unfounded assumptions that get in your own. way. And there's others out there. Those are just the examples that come that I've had recently.

And they get in the way of your success. They put you on a never-ending journey to find the new way to do it, that no one else is doing yet, that no one else is discovered yet. You're always looking for that new way. Well, if there is a new way, and I don't believe that there is a new way, there is essentially just the basics of doing this business. There's little tweaks and nuances, but there's not a new way of doing this business. Buying and selling is done the same way, regardless of what the product is. And if there happens to be a new way, you're probably going to hear about it from someone that's selling it.

And the reason they're selling it is because now it's more lucrative for them to sell it than it is for them to actually apply the strategy. So just keep that in mind. Get off that journey of looking for the new way, the easy way to do things. Stop looking for that edge. I mean, it's okay to look for an edge, but stop suspending all of your activity looking for it. Stop assuming. Stop making these assumptions.

I mean, we all know what happens when people assume, right? Yep, you got it. You know the rest. And that's what's happening to you if you've ever thought anything along the lines of what I just said. And, you know, one of my favorite quotes of all time is those that say it can't be done or being passed up by those that are doing it. And that couldn't be any more true than in real estate investing. When people say that you can't invest in real estate with no money or credit. They say that to me all the time.

Well, I just bought a 14-unit building in Memphis without one dime of my own penny, or one dime of my own money, and not one point of my own credit. I'm getting an infinite return on that building, and I didn't use any of my own money at all. So I love it when people tell me you can't do that. Don't let people tell you that you can't do it either, especially if this is something that's really important to you. those that say it can't be done being passed up by those that are doing it. So let's look at these assumptions.

Let's get back on track. It doesn't work in my market or it doesn't work in my market or everybody's doing it or there won't be enough deals for me. I mean, regardless of which one we address, my question to you is, and I'm just going to speak to you, just for example, just role play with me. Say you're the one that had these assumptions. Maybe I'm preaching to the choir, but based off the comments I get, I don't think I'm everyone in the audience. right now is the choir. But there is, we're going to get around to why your letters aren't working. But my question to you is, if, you know, you think this doesn't work in your market,

or everybody's doing it, or there won't be enough deals for you, how do you know? How do you actually know? And when I asked that question, well, I tried yellow letters once. Didn't work. Well, you tried them once. Okay? I guess they just don't work. Or, well, my friend, he's doing it.

And so, you know, it just seems like. everybody's doing it. Oh, so your friend is doing it and that's everybody. Got it. Or, and this one is my favorite. There won't be enough deals for me. Are you serious? Are you serious? Have you seen the national statistics? There are two and a half million homes for sale right now on the multiple listing service. Two and a half million. I mean, and most authorities are projecting that the foreclosure crisis is going to last another three to five years, at least. at more than a million foreclosures per year, a million. You know how many real estate transactions there are?

That is? You know how many investors there are? I mean, investors that are actually doing something? Not a million of them. And don't forget where the deals are or where they come from. They come from motivated sellers. Sellers become motivated. Why are sellers motivated?

They're motivated because of life's misfortunes, something really crappy is having. happening in their life. It's either death, it's disease, it's divorce, it's a job loss or a job relocation, and that's just life. Life happens to people and life happens every single day. There will always be more deals to buy than there are investors to buy them. Always. I mean, sure, markets go up, markets go down. There are some markets in the United States that are up right now, and there's still a lot that are down. And if that's your situation, depending on your market, you just adjust your strategy accordingly.

There's an up price and a down price in every market. There's a high price and a low price. As an investor, you just have to identify the low price and buy it that low price and sell at the high. Okay? So there's plenty of deals. This stuff works in every market. Anywhere there's actual real estate.

It works in every market. And what was the other one? Oh, everybody's doing it. No, they're not. Might be a lot of people talking about it, but everybody is not doing it. I promise you. People don't do nearly as they don't do half as much as they say they do. Okay?

So they're not all doing it. And even if they were, there's still plenty out there. So those are the silly assumptions, okay? And if you subscribe to any of them, you know, stop it. Or just get out of the business. I mean, go find something else to do because if you're so focused on why it won't work, it's never going to work for you. You're only going to find evidence to prove yourself right.

And if you're complaining and commenting on why it won't work, every little piece of news that comes up, every little blog post, every little thing you might hear on a podcast that just slightly proves you right of why it won't work. As soon as you hear someone's failure story, you're going to be like, see, I told you so it won't work. And then you're not going to do anything.

And what happens when you don't do anything? You don't get anything. and when there is eventually enough evidence to where you can't help but change your mind because everybody is actually doing it, everybody is succeeding, once that happens and you realize that this real estate thing actually does work, you'll have missed out on so much opportunity that you'll probably go into a deep depression. So neither one is a very good scenario to end up in. So don't assume anything in your real estate investing.

And there's a saying that I like to operate by. inspect what you expect. Don't assume. You want to inspect what you expect. So if you expect the letters might not be working in your market, you want to inspect that they don't. If you expect that everybody is doing it, then you want to inspect that they are.

If you expect that there aren't enough deals for everybody to go around, then you want to inspect that there are or there aren't, okay? I mean, the assumptions will kill you in this business. And you'll find yourself, you know, leaving the business, saying something stupid like real estate investing doesn't work. Well, yes, it does. It works for more people in creating wealth than anything else.

It absolutely works. So the real question is, did you work? And that brings me to the topic of the day, okay? Why aren't my yellow letters working? I was going to get here. Took a little bit a roundabout path, but I got here. So why aren't my yellow letters working? All right.

So if you expect that your yellow letters aren't working or working as well as you'd like them to be working, if you expect that, let's go ahead and inspect what's really going on. So the only way to truly know if they are working or not, the only way to truly inspect is to track your efforts and your results. You've got to track your efforts and your results. And you can get an actual track your track. sheet for your investing activities. You can get that in the free course.

I believe it's under video number three. There's a video there how to guarantee your results or guarantee your success. Might be video two or video three. I think it's video three. And there's a little link there and you can download the Excel spreadsheet that I use to track my activities.

Or you can just make your own, whatever. So the first thing you want to track is how many letters are you sending out? How many are you sending out? Before you decide that they don't work, let's look at how many you're sending out. Are you sending out 100?

Sending out 1,000 or 10,000? You know, how many? One of my favorite TV shows right now is Gold Rush. I don't know if you guys have seen that. I love that show. I think it's on the History Channel. And it's about these guys up in Alaska digging for gold. And I watch these guys all the time.

I even record it and I watch it over and over again. I find it very entertaining and very relaxing. And most of them are somewhat small operations. They're beginners. You know, they're just getting started and they're going up there with this, this gold fever, I guess you'd call it, to go up there and see if they can actually dig for gold. And with the price of gold today, all of a sudden, it's become a viable occupation again for some reason. Well, it's worth a lot.

So I guess that's a good, that's a good reason. But, you know, these guys that is small operation. They've got a tractor, maybe two. You know, they're figuring out how to do this. They're learning their way around the mountains, around the rivers. They're still learning how the equipment works, how to even design and build the equipment. They're constantly modifying their approach and their strategies. And most of them, they aren't finding a whole bunch of gold.

Very little, in fact. I mean, some days, they get a good hit. I mean, here and there, they get a good hit. But most days, they come up with almost nothing. So I'm kind of bum because I love the show so much, but it's on hiatus right now. So it's in between seasons. But there's a new show that just started called Gold Fathers. And it's based off the same premise, but it's, they've got a lot more experience.

They've got a much bigger operation. I mean, these guys have got years and years of experience behind them. they've got major excavation equipment, multiple bulldozers, and, I mean, they're really moving some earth around looking for their gold. And these guys,

these guys are finding gold. I mean, they're finding 60, 70, 80 ounces, and they're considering it like a slow day or just an average day. I mean, 60 ounces times, you know, $1,500 an ounce, do the math. That's a lot of money they find in one day. And they're finding 10 times the gold

as the guys on the other show are finding. So on one show, they've got one tractor to dig with. The other show has multiple tractors to dig with. I think one of the teams on the Goldfather show has six tractors to dig with. No wonder they seemingly strike it rich every single day.

So what I'm getting at is, and I'm going to ask you, when it comes to your yellow letters, are you using six tractors or just one tractor? Or are you just using a little pan? I mean, you've got this little pan and you're bent over at the creek

with your little pan, and just sloshing the dirt around looking for the gold. I mean, be honest with yourself. You know, no one's listening, no one's going to know, just be honest with yourself. And track how many letters you're actually sending out before you ask, why aren't my yellow letters working? Okay?

So that's the first thing you want to track. The second thing, the next thing you want to track, is how often are you sending your yellow letters out? How often are you sending them out? You see, there is only one way to get motivated sellers to call you. there's only one way to get motivated sellers to call you. And that is to keep your message consistently in front of them. To keep your message consistently in front of them.

And the operative word here is consistency, consistently. You've got to treat your investing like a business. You've got to treat it like a business. I mean, you just don't get up and go to work one day a week and expect to get paid for the whole week, right? No, you'd be fired. That's not how a business is run. And you can't do a whole month,

worth of effort into one day and expect to get paid for the whole month, right? That wouldn't work either. You can't diet for one day and expect to lose 30 pounds. You can't plant your cornfield and expect to have a crop the next morning. No, you've got to be consistent in your activities, the right activities. And you've got to go to work. You've got to go to work four to five days a week to get paid for that whole week. You've got to do that every week to expect to get paid for that month. To expect to get paid over time. You've got to diet. every day to lose the weight. Then you got to keep dieting to keep the weight off.

You got to keep watering that corn to get that crop to sprout up. So check your consistency before you ask, why aren't my yellow letters working? How many are you sending out? How consistently are you sending them? Now, if all that's intact, you are sending out a significant amount of yellow letters and you are sending them out consistently.

Now, let me ask you, how long have you been sending them out? that's the next thing you want to track how long you want to do this over time I mean were you consistent for a month or were you consistent for two months in marketing it's a long-term venture

it's not a you know what so many people try it's not a let me give it a shot for a month to see if I can get a deal done and make some money I mean you know there's flukes that can work but it's not what happens most of the time and I'll explain why a little bit more in a minute but you've got to track your activities

how many, how consistently, and how long. And I would say your yellow letters needs to be, you know, that whole marketing plan needs to be at least a three-month plan, at least a three-month plan for you to determine whether they're working for you or not. At least three. And I'd push it to six. I'll explain why a little bit more of why you want to go that long also and why for some people it might be just three and other people might be six.

And other people might be a whole year. So I'll get back to that in a second. So let's say that you are sending out a measurable amount. Let's say at least 20 a day. 20 letters a day. Now that's the minimum, okay? I mean, remember our Goldfather guys. They're not using a pan for their gold.

They're using six tractors to dig for gold. And the pan, that would be the minimum. Okay, so 20 letters, that's the minimum. And say you're sending them out four to five times a week, and you've done that for at least three months. And you're still not getting the results that you want. Well, the next thing you want to track is, before you say that your yellow letters aren't working,

how many phone calls are actually coming in? You've got to track that too. How many phone calls are coming in? Now, if your phone just flat out isn't ringing, okay, then we can start to look at where the problem is. Now we can actually inspect. We got something to inspect. I mean, what are you writing on your yellow letter?

We want to inspect that. Who are you sending your yellow letters to? We want to inspect that. We have something to inspect now if the phone isn't ringing at all. now we I mean we actually got something to inspect there however if you're sending the minimum amount and you're sending them out consistently and you've sent them out consistently for a few months your phone is ringing no doubt the yellow letters work your phone will ring I promise you it will ring I mean I receive about a 13% response over a year's worth of tracking about a 13%

response and I find that 10 to 15% is the norm but some some months I'll get 25%. Other months I'll get 5%. And even if you're only getting a small 5% response over the whole three months, did you know you're still beating the direct mail industry by 5? I mean, that industry gets about a 1 to 2% return. That's how powerful the yellow letter is. So even a 5% response is a success. It's working. I mean, because the best case scenario of the alternative, that 1% with the other stuff, I mean, that sucks. You don't want to work on 1%. So, So don't be upset with five if that's all you got. They're working.

But if you are getting just 5%, look at what you're writing in your yellow letter and who you're sending it to. I mean, that would definitely be worth a look. You can certainly inspect that if you want. All right? So now, if everything we've discussed so far is checking out and your phone is ringing,

now you want to track how many of these people are you actually talking to? I mean, you were actually on the phone discussing their situation, those people. How many were you actually discussing their situation? You need to track that. I mean, typically, this is where the yellow letter breaks down for people. I mean, either they're not picking up the phone when it rings,

or they're not returning the messages. One of the other, I see this a lot. I see people blow thousands of dollars in marketing thinking that all they have to do is send the letter and they're going to get great deals. No, it doesn't work like that. You have to actually speak to the people, okay? I know that's probably so obvious.

It's painful. Like, why are you wasting my time talking about this? It's so many people don't even make the calls. They send out all the letters and they think it's not working because they're actually speaking to the people. So you've got to track that. So make sure you're actually speaking to all of the people that are calling you. And this is why I like to carry around a dedicated phone that I use just in my marketing. I mean, with that little dedicated phone, the only place that phone number is posted is in my marketing materials.

And that phone has a very unique ring. so I know when I hear that unique phone ring, it's time to do business. And if I can in any way, I drop whatever I'm doing and I go answer that phone. I mean, when is the best time to do that business? The best time to do this business is when they're calling you. Because they're calling you on their time.

It's convenient for them. You're going to have their undivided attention right now because they're calling you. They're ready to talk about it. So do whatever you can to pick up those calls when they call you. I mean, if you let them leave a message, and you do actually call them back. You see, you're now actually calling them back on your time.

And a good time for them to talk doesn't always, in fact, well, actually rarely, does it align with your time? So you get a less result. I mean, certainly when things pick up for you and you're doing deals, go ahead and set some office hours and set a time where you're going to call them back on your time.

You know, you've earned the right to do that. You don't have to be a slave to these incoming calls forever. But if you're trying to get your business started and get it started fast, you need to make at least a 90-day commitment to pick up that phone whenever it rings because that's when they want to talk to you and that's when you're, I mean,

that's why you're doing the marketing in the first place to get motivated sellers to call you and actually want to talk to you. So pick up the phone when they call and track how many times you're actually speaking to the people that call. All right? So let's say, you're listening to this podcast right

and you're like, okay, check, I'm sending them out and I send them out consistently. I've sent them out long enough, and I'm answering the phone, I'm doing all of that, and still no deals yet. Let's say that's your situation. Well, before you say that,

yellow letters don't work, my next place I'd want to inspect is, what are you saying to the people when you do speak with them? What are you saying to them? And this is the point where the boys are separated from the men, so to speak, the pros from the amateurs.

Meaning up to this point, it doesn't really take any skill to send out the letters. I mean, anyone can do it. But by all means, real estate investing is a skill. You see, now that you're on the phone with the prospect,

now is when experience and skill will make a significant difference in your results. See, when you get on the phone, you've got three objectives. Here are your three objectives. And this is the skill that you need to develop. You need to find out why they're selling.

You need to find out what they want from you. in order for them to sell to you. And three, you have to find out how fast will they sell to you if you could give them what they want. That's it. Okay? That's your call structure. Those are your three basic questions.

And, you know, you've got those scripts inside of the free course. And I give you the exact word for word of what I say. That's it. It's very simple. That's the only structure of the call. The rest of the call is all about building rapport. And that's a skill. It's a skill.

And like any skill, it takes time to learn. That might be the bad news for you. It takes time to learn. But the good news is it can be learned. So that's the good news. But you can't learn how by reading a book. You can't learn to write a bike at a seminar.

I love that book. You can't learn to write a bike at a seminar. You can't learn this people skill by reading a book or taking a course or even listening to a podcast. I mean, sure, you're going to get some great tips from all those sources. And you're going to get some guidance. But the only way to truly learn, as it is with any skill, is through repetition, is through practice, lots of repetition. You've got to build rapport.

And here's why it's so important. This is why this is so important. People do business with people that they like, people that they trust, and people of which they have confidence in their competence. They got to like you, they got to trust you, and they got to believe that you know what you're doing. And all of this is established while building rapport. And of the three of likeability, trustability and competence, I find the most important one is to be likable.

That's going to get you more deals than just about anything. You've got to be likable. I mean, if people like you, they will do business with you. Now, I mean, you can't be a total slime dog idiot that's likable and expect to get business. I mean, you still need all three. but being likable carries the most weight and can compensate for shortcomings in the other two. That's what I mean. All right.

And I say it in my seminars. I say it on my online courses. I've said it here on the podcast and I'll say it again. Your most important skill to develop as a real estate investor is your people skills. That's your most important skill. It's not your sales skill. It's not how good you can fill out the contract. It's not your marketing skill.

It's not your ability to generate lead skill. It's not your internet. skill. It's not how great your skill at building a landing page. Because regardless of all of those skills and how you find your deals, at some point, it becomes a people business. You're going to have to talk to people. At some point during that transaction, you're getting belly to belly, nose to nose. Well, and that may be over the phone, but you're talking to somebody. You're dealing with another person. And if you want to tweak just one thing in your business to receive the greatest return is to tweak your people skills, is to put your

focus there and develop your people skills. Great book. How to Win Friends and Influence People, Dale Carnegie, probably the only book you need. Get that book. It's not a real estate investing book. It's a people skills book. But indirectly, that makes it very much a real estate investing book, okay? How to win friends and influence people. You know, just the slightest improvement in your people skills is going to give you a significant improvement in your bottom line. and you can't say that about any of the other skills involved in real estate investing, not to the degree of which I'm speaking, your people skills, okay? Now, let's say you're doing everything, you're doing it all consistently,

and you've been doing it for a while, and you've got great people skills, before you say your yellow letters aren't working, I'd want to inspect how many appointments are you setting? How many appointments are you setting? You've got to track that too. And how many appointments are you actually running? You got to track that. I mean, believe it or not, you can set appointments all day, and you know what?

I know this is tough to believe, but sometimes the other people don't show up. So you can't count that as an appointment run, right? And if they don't show up, guess what that means? No deal. I mean, sure, you did everything by the book, and you've been great at it. You've been doing exactly what you're supposed to do. You've been consistent. You've been doing it long enough, but no deal.

I mean, if they don't show up, no deal. I mean, if that were, and now if that were the case, I'd want to inspect what are you actually saying to the seller to set up the appointment? What are you actually saying to set up the appointment? I mean, if you see a pattern of no-shows,

what are you saying? Or are they really accepting that appointment? Are they just brushing you off? Did they say something like, I'll try to make it, or I'll see what I can do, or I'll probably be there? And you are actually thinking you heard an appointment set.

Are you getting confused there? That's a place where you want to inspect. I've been through it all. I know how this game goes. Okay? I've been coached myself and I've made all of these mistakes. And as I'm coaching people through the free course, I'm coaching people through the academy,

I'm coaching people through my coaching program. It's all coming up. Everybody's the same. Everybody deals with the exact same thing because the game is the same. And everybody comes up against the same challenges. But all the challenges are all overcomable. They're all conquerable.

So after you're done building rapport and extracting the information, you need to determine if there's a possible deal or not. You've got to get skilled at setting appointments, okay? You've got to get skilled at setting appointments in a way that they actually show up to the appointment. And part of that skill is getting them to want to show up to the appointment. That's the only reason they're going to show up to that appointment is because they want to. That's part of the skill. And so that's part of more people skills. All right.

So let's say you've got all of that down, and you're actually setting appointments, and people are actually showing up. So before you say that your yellow letters aren't working, I'd like to inspect how many offers are you writing at those appointments. How many offers are you writing? If there are no offers written, there will be no deals. That is your primary job as a real estate investor to write offers.

Actually, it's one of the primary jobs. There's basically three. You must first, job number one, you must generate leads. That's job number one. Second, you must set appointments with those leads. That's job two, setting appointments. And third, you must present offers at those appointments. That's job number three.

And when I say job number three, writing offers is the most important job. I mean, you can be an absolute pro at jobs one and two, but if you don't follow through on job three, it's all one giant, big waste of time. It's a waste. Might as well not have done anything. And that's how it really goes down. You got to write the offer. The yellow letter is just the beginning.

It's an awesome tool. But it won't do the deals for you all by itself. The yellow letter's job is to do nothing but make the phone ring. And that it does. It does that very well. It does it very well if you're actually sending them out, and you're sending them consistently, and you've sent them out over time.

I can hear it right now. I can hear it right through this microphone. Yeah, but all the people that call me are crazy. All the people that call me want full price. Everybody's underwater. Everybody's, you know, everybody's unrealistic with what they want. I know. I know.

My personal numbers that I've averaged out is about, I get about one deal out of 35 calls, 35 times the phone rings. It's gone up a little bit. I don't know if that's me or what. I guess I need to inspect that. was one out of 30 in my first few months. Now it's averaged out over time about one out of 35. Okay?

But I still get deals off the yellow letters. And know what that means? I got one deal out of 35 calls. That means 33 of those calls, 33 of them were unrealistic, insane, weird, wacko people or short sale people or people that wanted too much for their house at 33 of those calls. So this is why you want to track it. How many of those calls have you received? have you even received 33 calls from your yellow letters?

Have you even received that? Make sure that you're tracking this before you say that they don't work. They work really, really well. Okay? But your expectations just have to be set appropriately. They're designed to make the phone ring. And unfortunately, it's not too, what's the word, it's not too much of a discriminating device.

So everybody's going to call. But you're not looking for those 33. You don't care about those 33. Don't get frustrated. don't get annoyed, you knew they were going to call. I just told you that they're going to call. I've told you before. Those crazy people are going to call you.

So when those 33 call, you're just like, okay, yeah, Matt said they were going to call. I'm glad they called. Because I guess I got them out of the way now. Now I'm looking for my next two. Okay? So keep that in mind. Now, with regard to how many offers you're submitting, this is the big one that you want to track. This is probably your most important number to track.

I mean, even if verbally there seemed to be no deal at your appointment with the seller, always leave an offer. Even if they don't want it, just leave the offer. I like to use a three-option letter of intent, but at least leave an offer. And here's why. A no from that seller today does not mean a no tomorrow. Got that? A no from that seller today does not mean a no tomorrow. See, when you're speaking with motivated sellers, remember, they are motivated for a reason.

They are motivated because typically something pretty crappy is going on in their life. And you don't know what is going to be piled on top of that pile of crap tomorrow. And when things start going bad for people, you know, crap tends to build up. I mean, the thing that lands on the top of that pile tomorrow just might be too much for them to bear. That might be the straw that broke the camel's back, so to speak. and now they've changed their mind. And then what happens? I mean, when that happens, it happens all the time.

Who do you think they're going to call? They're going to call a person that left an actual written offer behind. So your big goal is to spread around as many offers as possible. You want to spread as many offers around town as possible. And you want to do that too consistently. And you want to do that too long enough. And if you do that, if you do that, you won't be asking me why your yellow letter isn't working.

I mean, imagine, if you averaged setting one appointment a day, just one appointment a day, you can average that. Some days you do three, other days, for three days in a row, you don't get any. But you averaged one a day. And say you took weekends off. So that's four days a week times. Let's say you said, let me just make the math simple, so I don't, not deal with 16. Say you did 20 appointments a month.

Okay, 20 appointments a month. and you left an offer with each one of those appointments. That would be 20 offers in one month, right? And then after, say, three months go by, because you're going to do it long enough, right? You've got 60 offers floating around your market. 60 offers floating around. And one of those motivated sellers, at least one,

their life took a bigger dump than when you met them when they needed the help the first time. So now they're in more trouble. They're more motivated now. and because you built rapport, because you built rapport, because you are likable, and you are the only one who left an offer behind, and you will be the only one because nobody else does this. I know this because this is how I got so many deals because nobody else did it. And because you left the offer behind and you're the only one that did, you will get the call. You will get the call.

Now imagine if you did this over six months or even a year, right? because you're not in this just for a month, right? This is your new career. This is what you're going to do to create your financial freedom. This is going to take commitment. So you're going to be in this at least a year. And if you did that a year, that's 120 offers. Did I do that right?

Oh, that'd be in six months. It would be 240 offers in a year. It would be a mathematical anomaly for you to have not completed at least a handful of deals. and a handful of real estate deals, even just basic wholesale deals, it's higher than the average median income in the United States. I mean, it would be a mathematical anomaly

for you not to do deals. I don't know what the number is. I mean, God, I've done 80 in the last 18 months doing exactly what I just told you right now. I mean, this is how I did it. So never leave an appointment without leaving an offer. and I know this works.

You know why? Because I tracked it. I have the numbers. I can see it. And you want to leave that offer at the appointment, even if they say they don't want it. Leave the offer. Do that, and your yellow letters will work

just as you were told that they would. I promise, all right? So until next time, as a very wise person once said, consistency requires you to be as ignorant today as you were a year ago. I thought that was funny. There's some truth in that, but I'm not going to leave you with that one today.

Okay, that's not what I want to leave you with today. Here, this is better. Part of courage is simple consistency. Be consistent in your business and your income will be consistent. Your success, I'm Matt Terrio, living the dream. Thank you for spending this time with Matt Terrio and the epic real estate investing podcast. When you have a moment, stop by iTunes to leave your

comments and let us know what you think of the show. And if you haven't done so already, get started investing today by visiting free real estate investing course.com to access Matt's free course, how to do deals, no money required. Until next time, to your success. Simons, insufflese, the magic, in your time of the fete. Millie an idea of and an idea of and a lot of decorations festive

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