Epic Real Estate Investing - Monday Mastermind Session - Kristi Cirtwill, Joe Taylor and Justin Colby | 460

Episode Date: September 3, 2018

Welcome to Monday Mastermind Session! Matt Theriault talks with Kristi Cirtwill, Joe Taylor, and Justin Colby, genuine real estate investors on The Epic Real Estate Investing Show! Learn what are the ...best sources for off-market deals, how to deal with increasing competition and what changes in the business we can expect. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript
Discussion (0)
Starting point is 00:00:00 This is the Epic Field Report. Hey, Justin, nice to meet you. Nice to meet you as well, Matt. Thanks for having me. You bet. What market are you in, Justin? We're in the Texas market. So we're based out of Houston, but we work all over Texas and Alabama.
Starting point is 00:00:18 Super. All right. So you got kind of a big territory. I noticed in our follow-through Friday inside of the Epic private Facebook group that we've got, last Friday you got lease to purchase. sale, $8,000 in Florida, least a purchase sale, 8,100 in El Paso. You purchased a home last Sunday, now having a highest bidder sale this weekend, crossing the fingers in Texas, and then learning to raise more private money,
Starting point is 00:00:42 looking forward to reading more wins. Super. So thanks for sharing. And I'm just curious, let's pick out one of these deals. Which one was your favorite of that week? Oh, probably the highest bidder sale. The highest bidder sale, okay. Let's talk about that.
Starting point is 00:00:56 How did you find that deal? We're part of a mastermind group. And it was a lady, an unfortunate circumstance. Her husband had passed away in November. So he had three assets that he needed to divest. They needed to get rid of his estate. And so this one needed quite a bit of work. He needed about 67K in rehab.
Starting point is 00:01:18 She owed about 48 on it. We got it for 60 and then just tried the highest bidder sale. One of my partners, both of my partners, they've done some highest bidder sales in the past. And so we took a chance on this one since our contractor was going to be about two to three weeks out. So I was money, couldn't wait. And yeah, we had a two-day highest bidder sale from two to four on Saturday, two to five on Sunday. Everybody wrote their bid down on Sunday and called everybody back and gave everybody another opportunity.
Starting point is 00:01:50 And I think by 730 that night, we had sold it for 102,000. Sweet. Congrats. So you found the deal was basically a referral? Correct. Okay, so you found the referral, and then your plan to exit strategy was to flip it and use this higher bidder strategy. Can you explain to me a little bit how that process works for you guys? Yeah, so in that sense it was, you know, obviously we got an under contract, bought the property, closed on it, and then we, you know, get a ton of marketing, hit our market, flyers.
Starting point is 00:02:23 We had a bunch of people passing some things out on that end, a lot of social media. and we're open, hey, let's give it a world. We haven't done this one for, my partners haven't done this one for probably five or six years. They haven't done a highest bidder sale. And basically it's not really, it's live, but it's not because you've given everybody an opportunity to, once the bidding closes at five, there was 16 people that bidded. And now we were able to just call them all back and say, hey, the bid's at 85 now. Would you like to increase your bid? Yep, to 90 and then just kind of continued from there.
Starting point is 00:02:55 Got it. Got it. So are you doing this virtually or are you doing this like on the front lawn of the property? Yeah, we're doing this right in the front lawn and then in this particular one. Correct. So you had all 16 people standing on the lawn? No, we just called back. There was actually three people that bitted. They were stick, they stuck around.
Starting point is 00:03:12 So they kind of watched the process a bit. It was their first time. But then they ended up backing out around that 85 mark. So we had four other people on the line basically. And within half an hour week, we had it sold the individual. brought it up to 102 and everybody the second person I was bidding was with about 101
Starting point is 00:03:31 and so they just handed it that that's awesome so you purchased it for what was it 86 you said 60 60 and you sold it for 101 102 102 this was a good day yeah that was a great day that's fantastic
Starting point is 00:03:46 so your biggest lesson learned in this transaction would be you know what it was nerve wracking because you're holding on to the property put some money into it you know cleaned it out, got rid of carpets, had a nice, you know, smell basically doing an open house just on wholesaling side of it. But the biggest lesson learned probably, let's find another deal
Starting point is 00:04:06 and see how quick they can actually go, right? They work. That's awesome. That's awesome. How do you plan on celebrating? My one partner, they got a couple little kids, so we're actually going to go to a water park here before we fly back to Canada. That's fantastic.
Starting point is 00:04:23 I noticed you sounded like my friends, Fargo. I was like, how did you end up in Texas? My wife, my wife had a good job opportunity. She's an engineer. And so we love traveling around. And, yeah, she took the job opportunity here in Houston. And I got out of the rat race and jumped into this real estate gig full time. Perfect. Well, congratulations on your success. Thanks for sharing with us. And if you need anything, let us know, all right? Excellent. Perfect, man. Appreciate it. And look forward to working with you here. Perfect. Have a good day. You too. Bye.
Starting point is 00:04:56 This is Terio Media. Yo. Yeah, yeah, we got the cash flow. You didn't know, home for it, we got the cashmow. Hey, welcome to the epic real estate investing show. Glad you made it. I got a really good show for you today. Something new, something different.
Starting point is 00:05:17 Just made the executive decision. I'm going to call it the Monday Mastermind session here on the show. I'm joined by three of my colleagues. I just kind of went through my whole database. I said, let's bring up some real active real estate investment. that are really doing deals, doing business, and let's just get on the podcast and jam, I guess is the most appropriate word. So welcome. I've got Mr. Joseph Taylor, Mr. Justin Colby, and Ms. Christy Sirwell. Welcome to the show, guys. And gal.
Starting point is 00:05:46 Yo, thanks for having us. Yeah, you bet. So I guess you want to go around and you can introduce yourself a little bit, what market you work in and then a little bit about your current real estate business. Joe, you can go ahead and start if you late. Joseph Taylor out of Portland, Oregon metro area. We do some wholesaling. We do some fix and flip and we do some custom new build house. Nice.
Starting point is 00:06:05 Christy. I'm Christy Sertwell. I live in Los Angeles and currently fixing and flipping and I keep some as rentals as well. Fantastic. Justin. Yeah, Justin Colby. I'm out of Phoenix. I'm currently wholesaling, wholesaling, and rehabbing as we speak.
Starting point is 00:06:24 Fantastic. as we speak. You're doing it right now? No, I'm physically not doing it. I haven't really done that in a long time. That's awesome. We'll talk about that in a sec. So I think one thing that's on top of everybody's mind right now
Starting point is 00:06:39 is the market is a little bit more competitive. Some of the marketing channels aren't working as the way they used to and we're doing and trying different things. So I don't know. Could you kind of share with me what's your best source of off-market deals at the moment? Christy? I work 100% off referral. And this has really changed from a few years ago.
Starting point is 00:07:01 I used to work mostly off the MLS and through wholesalers. I used to get 90% of my stuff that way up until about 2013-14. And then I realized that wasn't the way to find properties anymore. So I've always been a good networker, but I really just ramp that up. And for the last three years at least, I've gotten, I think, almost every single deal just from word of mouth, from networking. Networking. Is there a specific category of person or a profession that's sending you the referrals? No, not one in particular.
Starting point is 00:07:39 I would say I still get about a third of my deals from realtors, but those deals never actually make it to the MLS. So it's situations where it could be somebody who just doesn't want a real estate sign in their yard and they don't want 50 real estate investors straipsing through their house. They just want a fair price and I come in and I'm able to just work something directly with the seller or with the real estate agent. So, yeah, other professions that refer me are different attorneys. I've made a good connection with a business attorney who are just as well connected. And I used to be in a networking group called B&I.
Starting point is 00:08:23 I'm now in a group called Provisors, but it doesn't matter which one you join. It's just getting yourself out there and having people know what you do. Right. Got it. Good. Thanks for sharing. Justin, what's your best source of deals right now off market? Yeah, so I've become kind of a marketing expert.
Starting point is 00:08:42 That's really where I'm going. go, six marketing strategies. I've always used direct mail as long as I can ever remember, but I have incorporated bandit signs over the last year. I'm in Phoenix and so everyone in the world would have argued bandit signs no longer work. I'm here to tell you they still do as long as use the right strategy. I'm really heavily invested in PPC right now. I've gone through four different companies. I've spent well over $100,000 to get zero deals. I've finally found a company in the first five weeks, we pop three deals with this company I'm working with. So I'm like all in right now on PPC. I have a coal calling floor. I have 12 guys in my office every day, cold calling from 9 a.m.
Starting point is 00:09:27 to 1 p.m. And then we have a door knocking street team. So I really try to surround people on every angle. And then we drop our VMs, which our friend Sean developed, which is ringless voicemails. So I'm going from door knocking to coal calling to direct mail to ring this voicemail to PPC. So I'm surrounding everybody because in our Maricopa County, there's really only 300,000 homes I have that I would want to buy. So I attack them on every angle. And so I'm really focused on all six of those marketing fillers. Got it. Yeah, the whole cold calling thing is really making a comeback. And it's the big buzzword right now. What's lists or who are you actually cold calling? So I do a the same list I send direct mail to.
Starting point is 00:10:13 So I basically do a property avatar. A lot of people will talk about, you know, the distress list. Well, that's typically the personal, the person. So I go after the property. So like built in 1995 and older, they must have lived in it for seven years. It needs to have a assessed value of $300,000 or less. And owner or absentee, I don't really care. And what was the last thing?
Starting point is 00:10:39 I think that's about it because I just want the property because all those distress situations that the person's going through, well, they own those properties, right? So for me, there's roughly 300,000 people that every year I send mail to four times and I coal thousands and thousands of times. Right, right. Yeah. Good. Joe, your favorite or best resource for off-market deals at the moment? We're still, you know, we've been, we've actively been involved in pay-per-click for about three years. I've probably done some more than that.
Starting point is 00:11:11 Like Justin said, a lot of competition than that. A lot of people are, you know, margins are getting smaller on that, but they still turn deals over. My primary source of volume of deals is still coming from direct mail. There's a list stacking software that I developed. We stack a lot of the pain point list to that, and that narrows it down to a specified highly targeted. targeted checklist where, you know, metro area is about 1.3 houses. And it allows me to dial that down into about 4,600 houses
Starting point is 00:11:44 that I have to hit continuously. So we cut our marketing costs way back. Last year I used to do about 50,000, 60,000 mail pieces a month. I don't think, I've barely hit 160,000 mail pieces for the whole year this year. So we're still knocking them dead on direct mail. And honestly, that's probably the two best sources that I got. other than one off here and there.
Starting point is 00:12:05 I'm not, we, we just started cold calling two weeks ago, got a lot of leads off that, but now we got to convert those, so I don't have enough history to really speak on that. Mm-hmm.
Starting point is 00:12:15 Got it. Cool, thanks. It's funny that you guys both mentioned PPC, and, you know, we've, we've tried that for a really long time to,
Starting point is 00:12:23 we've jumped in hot from probably three or four different marketing companies to do that for us, and we brought it in-house, and we had very much kind of a similar situation as you had, just,
Starting point is 00:12:33 started to pop. It'd be interesting to compare, like, what's the big difference there? Why does it work for some people and not others? And going through the same exact market, it's a, but it is a science, right? Yeah, I think, you know, just to bring that up, I literally tried four companies over the last two years. Like I said, hundreds of thousands of dollars down the toilet. So in my market, I figured Phoenix was just too tough. But that was my own mindset, right? I just ronk whatever, because I found this company now. And literally within the first week, we got our first deal within three weeks we had two deals and within the five weeks we have three deals. I couldn't, you know, I'm like a baboon when it comes to it, right?
Starting point is 00:13:08 You tell me to go do my own Google AdWords? Not going to happen. So I don't know, but it is interesting that all these different competitors can be in the same space, but one's going to completely outperform the other. Very interesting. Yep, absolutely. So, yeah, based on that, this might lead into our next question. And, Chris, I'll ask you first, what trend are you seeing in your business or your market that
Starting point is 00:13:31 has you either excited or concerned and how is it changing the way you operate? I always am excited and I am always concerned. I love it. I would say right now, I always have a concern about where is the market headed. And, you know, I think I try to mitigate some of that risk just by buying properly from the beginning. You know, I try not to get into deals that are too tight. that way if the market adjusts a little a little bit down I am still kind of in my safety zone
Starting point is 00:14:06 I'm not going to lose my shirt on you know just working off too tight of a margin so I'm always aware of that and trying to be conscious of that the thing I'm excited about right now is I'm actually building ADUs and the state made a law earlier on this year to allow every city has to allow you to build these things in the back of care. It's basically you're building, in some cases, an entire second house on a single-family R-1 zone property. So I don't think this will last. That's why to add cash flow to my property, I'm building these and actually keeping them as rental. So that's something that, you know, more cash flow. Explain that. So every R-1 for a period of time right now in the state of
Starting point is 00:14:56 California, you can actually build a second unit? Yes. So each city has their own specific guidelines to, you know, you have to fall in certain setbacks. You know, sometimes you can't be a certain percentage of the main house in square feet. Sometimes they can be detached. Sometimes they can be attached to the house. Sometimes these can be over top of a garage. for anybody listening i should clarify what a d u is it's accessory dwelling unit it's basically like a
Starting point is 00:15:32 granny suite i think is what they used to be called so um so yeah for what for what i can build them for and for the additional cash flow it provides for for the cost it's it's working out well so far so we'll see i say so i mean with the the the way that rents have gone up especially in southern california in the last decade is that can imagine awesome so you figured out I had a cash flow in California. I like it. Yeah, well, I wouldn't say it's a lot of extra cash flow because that really doesn't exist in California much, but it's, I have a long-term plan for these.
Starting point is 00:16:09 It's not like get rich quick overnight. It's, you know, get them to where at least PITI is covered. And down the road, I've got some nice assets. Of course, yeah, right. Super. So, Joe, what trend are you seeing in your business or the market right now that has you concerned or excited? Well, just the volume of competition, you know, it's increasing so much.
Starting point is 00:16:31 We had to start looking at other solutions. Started doing this path about seven months ago. We actually are down the county now pulling all the data sets, all the, everything from the recorders offices, liens, judgments. You know, we're getting probate for four years, like six, eight months before it's released to the general public. We've been downloading, basically, we've been downloading massive amounts of data and having to sift through that and figure out how. to funnel it. And so we're able to, you know, again, back to the direct mail piece, we're able to target a lot more niche specified list, if you will. And so that, that's one thing that I'm excited about because my marketing cost is going to be next to
Starting point is 00:17:11 nothing for those. We're able to cut that marketing cost down substantially. We've generated about $400,000 at this point in revenue off of those. And we're pretty much just testing the water still trying to develop that system. So I imagine that. other four or five months, we should have something perfected on that and it should have some definite phenomenal ROI off of it. But that's one of the things that just kind of sucks is you got so much competition. And this isn't just my area. It's everywhere. You know, everybody's got it. I know Justin's got five times as much as I do the same deal in California, right? So the volume of people entering the marketplace is scary. The fact that the margins are shrinking
Starting point is 00:17:50 down all the way across the board, that's always scary. You know, we're used to 40,000, lower margins and now we're, you know, we're pushing 30s. So it's being down slowly. Just trying to get ahead of the game. I'm still, you know, I'm a foreclosure guy. I've been for 15 years. I can't wait for that market to blow up again. But I'm still waiting for it too, right? Everybody keeps talking about the market crash. All this shadow inventory is still hanging out there. It's still coming, I think. Right. I don't know what it does. Interesting. So you were saying, I kind of noticed a couple things,
Starting point is 00:18:24 because it seems a lot of people are going back to more of the traditional way that they used to build their real estate investing business. And where you're knocking on doors, you're cold calling, you're going down to the courthouse and actually getting dirty and pulling that information out from the source. And did you say, are you mailing those people? Is that how the cost is coming down? I didn't understand how the marketing cost is coming down. Yeah. So instead of going a broad spectrum, we're downloading all that data and then we're stacking it and then we're marketing it off of that staff stuff. For instance, you know, you got HOA liens.
Starting point is 00:18:55 Obviously, people are going to quit paying their H-O-Alings and their taxes before they quit paying their mortgage payments, right? So you start seeing these things compile up, and next thing you know, you've got four or five pain points that you've staff, and it's much more highly targeted list than just pulling a, you know, a water shutoff notice or something like that. Right, right. So a lot less mailing volume than where you're saving.
Starting point is 00:19:15 Got it. It wasn't clear in the beginning. Cool. Justin, what do you noticing? What trend is happening in your business or market? Yeah, I think there's some, I mean, the trend truly in Phoenix is still appreciated, and it's nuts. And I think, you know, both Christy and Joe kind of talked about this is like there's this inevitable bubble.
Starting point is 00:19:32 It's happening. It's somewhere, 12 months, 18 months, 24. I don't know. It just can't continue to exist this way. It's just outrageous, which is fine. I'm taking huge advantage of it while it's happening. What I look forward to, and kind of like Joe, he's a foreclosure guy, well, I want to go build massive wealth. I mean, you're, you know, huge on this, Matt.
Starting point is 00:19:54 And so when that happens in a city like Phoenix, you have the opportunity to go literally pennies on the dollar, right? So I don't want to say I'm looking forward to a crash, but I'm kind of looking forward to a crash because I know I can still develop leads. So then I just change my exit strategies, right? So right now I'm very, very, very selective on rehabs, like Uber selective. I will still wholesale, which is, you know, I'll buy it and not rehab it and put it on the MLS. I'll still do that from time to time. I'm primarily only wholesaling. But I'm kind of looking forward to this change because to Joe's point, the players who are real players in the market, the real investors that have been around, they're going to stay around.
Starting point is 00:20:37 They'll be there. And a lot of the other quote unquote competition are people that are aiming for the same assets, I don't believe they're going to be able to fight the long fight. and I think that's, you know, to my advantage, right? And so some of it is a blessing and a curse. I mean, we're making huge profits. We're doing a bunch of deals every month because of the market. But we could also flip strategies and remove a lot of this competition as the market starts going south.
Starting point is 00:21:04 I think it's a blessing and a curse and kind of excited for all of it, right? Change to me, I've always done well in change. I've always flourished and change. And so I'm kind of looking forward to something like that. Got it. So, you know, speaking of change, I mean, we're at the end of a cycle. I don't know at the end, but it's certainly a long one, you know, typically a seven, eight years. I think we're going on a decade.
Starting point is 00:21:25 We're starting our 11th year. How big of a change do you think it's going to be? And do you have an idea of when you think it might happen? Yeah, I think we'll probably be safe through this year. Just there's no real signs for the real estate economy in Phoenix to really take a hit. Now, anything can happen, as we saw. I think going into next year, I think there should be some certain things, you know, the commercial loans, the car loans. There's just stuff out there floating that are like, when's this whole thing going to pop?
Starting point is 00:21:57 So I think into next year, you need to just be a little bit more hesitant on, you know, rehabbing because I've been one of those people that I caught my hand in the cookie drawer. I was rehabbing nine homes at one time. The music goes off. You know, luckily we kind of walked out of that scenario, broken even. because we bought so well, but nonetheless, it'll be an interesting thing to see as that starts to shut down and what happens. I don't think the crash like happened back in 2006 and 7, I don't believe it'll go that far. I think Phoenix will stop appreciating, and I think it'll adjust to some sort of normalcy, truth be told. And it might take a little bit of hit.
Starting point is 00:22:36 You know, if it takes a 15 to 20 percent hit, I could see that happening. I don't think it's going to be a 50 to 70% hit like we saw back in, you know, 506-07. You know, I think that's, I don't think that's coming. Yeah, I tend to agree with you. Christy, what do you think? What, do you have any bold predictions? Yeah, I agree with that as well. I listened to some economists back in 2012 and 13 when the getting was good.
Starting point is 00:23:03 And these guys were saying, all the crash is coming soon and it's going to be twice as bad as it was in 2007. And I was probably way too conservative, but this was my first round in the market. I've only been buying in Southern California since 2008, and I didn't know to make my own judgment on that. So I was being conservative even back then. And so here we are. We haven't even had a dip yet, and the inventory is so low, and they're still qualified buyers. It's, you have to be able to qualify that alone and buy a property. these days, not like 2005, where you could just make up your income.
Starting point is 00:23:44 Right. And interest rates are still low and jobs are good. So all of these things are just causing us to be kind of stable. We have had a slight dip here. So I'm just kind of keeping an eye on that. But I think the rest of this year we might just kind of ride along and we might see a bit more of a dip next year. But nothing major in my mom. on the Verizon.
Starting point is 00:24:12 I heard Bruce Norris. He said it's a while ago and he continues to say it. This last decade with the lending guidelines being so strict that the banks have probably written the best book of business for over a decade than they've ever written. So the potential for that, for what caused the crash last time, probably won't happen this time, but it might be something else that does it. There is going to be a dip. There's no doubt about it because there always is every 10 years or so.
Starting point is 00:24:36 So it's just a matter of when that's going to take place. my prediction that is I agree with you I think it's going to be an event I don't think it's going to be the same scenario where it was just bad underwriting and but Fraser's bumping values and stuff like that this time I think it's going to be another life event you know could be Korea sending off a missile whatever the case is it's going to that state yeah I mean I hope it's not anything tragic like that I agree it's way over price everywhere you go you know we're seeing stuff that's like I mean I'm trying to to pay $3.50 to pay $8.000 to pay $8.000. Where's the good old days? Let's get back to that. I'm looking forward to that price reset because I know it brings a lot of people leave in history
Starting point is 00:25:19 and they're just more inventory for the pickings. In good markets, we all make money. In downside markets, we kill it. Right, right. I heard a really interesting take the other day on the future, and not just real estate, but the overall economy. And they were sharing that They were thinking that now that Trump is president and he's the business guy, he's the economy guy, that as long as he's in office and it's on his watch, he's going to do everything in his power to prevent any sort of crash or adjustment. He may potentially leverage the entire future of our country on it to make sure it doesn't happen on his watch. But I thought that was really interesting. So you've got two more years at least to really go out and crush it before he had to be scared. And I was like, that's an interesting take.
Starting point is 00:26:03 I never thought of it. So let's see. Christy, what system or technology have you implemented in the last 12 months that's had the biggest impact on your business? Getting better at my follow-up because I feel that it's nice to meet somebody in person that you think might be able to give you a referral, but it's another thing to have them remember you after the meeting's over. So just I've actually ramped up my social media in terms of just Facebook postings, LinkedIn postings, Instagram, and you know, with my specialty being buying boarded houses, it's easy to put lots of interesting pictures on there to have to kind of keep you at people's top of mind.
Starting point is 00:26:53 So that's something I've done just in between meeting people in person is connecting with, them online and several other touches so that they remember you. Super. So multiple touches and you're using social media for that mostly. Yeah. Awesome. Justin, what new system or technology have you implemented in the last year?
Starting point is 00:27:15 Yeah, we started last year into coal calling and it has been an absolute game changer. It was funny because that's how I got started in the industry. So I was dead broke. So I basically had a cold call. That's how old is with no money started. Right, right? And so I just, I don't know where it came from, but I was like, why aren't we doing this?
Starting point is 00:27:33 Because we were doing all this other stuff and blowing so much money on PPC and all this stuff. And so we dove into it late last year in October. So I'm kind of coming up on a year and it has been a flat out game change. We have 12 guys in the office every day. We're, you know, any day we have anywhere from 25 to 100 leads come through our door of people that are interested in to selling, which is very, very hard to do with the other type of strategies. And so the difference being is a different tail, meaning the speed of what PPC does or even the speed of what direct mail does,
Starting point is 00:28:07 it's not the same speed of coal cone. You have a lot more follow-up, which is what Christy was talking about. But when you get them, they pop and they pop big. So that's been my biggest value. I'm most excited about right now is what's going on in PPC, because they pop quick, they're motivated, and I'm excited about it.
Starting point is 00:28:24 So my excitement level is highest with PPC, but cold calling has been the absolute game changer over the year. Interesting, yeah. I think the do not call list, like it scared everybody from cold calling. We all kind of forgot about it and everybody's doing it again. Are you paying any mind to the DNC list? So because I use Mojo,
Starting point is 00:28:44 so I scrub it against my own, but then I scrub it in Mojo, right? And so the hope would be it does its job. Now, we absolutely still call people that get pissed and irate. The thing that they have to realize, is more often than not, they have their home phone number on the DNC,
Starting point is 00:29:03 but we got their cell phone number. Well, that's not on the DNC. But they think it is, right? So they cause a, you know, storm about it. But the reality is, hey, bro, you need to put all your phone numbers on the DNC, and it won't come up.
Starting point is 00:29:16 It won't pass through our, you know, level. So I don't worry about it. I mean, those guys are really going after the big dogs that do a lot of robodialing. And, you know, they're dialing 50,000 people a day. That's what I believe they're probably more interested in.
Starting point is 00:29:32 However, something to be aware of. I'm not, I don't just, you know, brush it off. I'm aware of it. I just don't, I don't think it's going to be too big of an issue. Yeah. I don't think so. Those are some hefty funds too at $7,500 a shot. There's no doubt.
Starting point is 00:29:46 Yeah, really. I mean, we do, yeah, it's expensive. We do roughly 6,000 to 10,000 calls a day, every day. I would say 2% of the calls. as we make are people that come up with I'm pissed out can you get a hold of me yada yada it's very very minute so what is your actual approach of taking this call this whole call it is very I keep it simple right so if I were to call you hey Matt my name's Justin I'm actually looking to buy home in the area I love your neighborhood are you interested in selling or thought
Starting point is 00:30:22 about receiving a cash offer anytime the next 12 months so first I would say, hey, is this Matt. You'd say, yeah, this is Matt. That to me is what I call contact, because I'm trying to measure the data. Is the data good? So if I say, this is Matt, you say yes, this is Matt? Boom, that's a contact. The next words out of your mouth might be F off.
Starting point is 00:30:42 That doesn't mean the data is not good. It means the data is good, but you're not willing to sell. Then I want to make sure you're looking to sell or at least open to having a conversation. Then I would ask three questions. when are you looking to sell? Why are you looking to sell? How much do you want? At that moment, I get those answers and I give it to my acquisition guys.
Starting point is 00:31:04 Because from that point, I want the Michael Jordan's I like to call them. I want them with the ball because now it's game time. Now it's all on the line. So that's the basics. Are you looking to sell? Yes. When are you looking to sell, why and how much? Got it.
Starting point is 00:31:17 Give it to the acquisition, man. Is that a straight handoff or is that something that they call back later? it's a podium handoff but they have to get they so I put requirements on my guys they get bonus if they hit the requirements they get uh reduced pay if they don't but they have an hour to get to that person so they have to get to that person the first hour right so I have all these kind of guidelines based around pay and bonusing people based around how quickly they can do what they need to get done sweet sweet yeah best way to motivate us to compensate us to compensate say, right?
Starting point is 00:31:53 Yes. Joe, what system or technology have you implemented in the last 12 months that's had a big impact on your business? Maybe you already said it. Yeah, just that list back your software that's really only changed until we started implementing the telemarketing. And again, that's too fresh for me to give any results on that. Got it.
Starting point is 00:32:10 So a lot of great information. Thanks for being so gracious with your sharing. What's the best book you've read in the last 12 months and what did you find most valuable about it? I actually think Justin referred this one to me, but it's never split the difference. It was Justin that sent me that one. That was a good book. It's helped me nail down with my constant sales training with my guys, these guys, trying to get them motivated and keep them going and get them to hold their ground when they, when they smell blood. So it's kept the margins
Starting point is 00:32:40 increased for the most part. Right. Christy, best book you read in the last 12 months, and what was the biggest impact that had on your business? I've ordered about three and I haven't started reading any of them yet and i haven't read one for a while it's funny i've got i've got never split the difference in my audible account and it's just sitting there been looking at me for over a year got it which three did you pick up uh they're sitting on my dresser i i haven't even opened them yet that i got it super impactful that's great while we're on the topic of of sales and cold calls and i think this might be relatively of it. There was a Dale Carnegie book and it was the sales advantage, I believe it was called.
Starting point is 00:33:29 And that has some really good sales tips in it. So just the way you say things, selling to the person the way they want to hear the information, not the way you want to, you know, tell it to them. So that was a good book. Sales Advantage by Dale Carnegie? Yeah. Awesome. Justin, Listen, best book you read in the last 12 months, and what do you find most valuable about it? Ooh, that's good. So I read a lot. I'm going to go business and now go personal. One that I've really resonated with recently is four disciplines of execution.
Starting point is 00:34:02 I've probably read it three times. Great, great book. I'll give Joe a recommendation. Read Presuasion. It's kind of like reading radio instructions if you get excited about that kind of stuff. But, man, sales, persuasion, pre-suasion. Swayian by Caldini. Awesome, awesome book.
Starting point is 00:34:24 Yep. And then it, can I cuss on here, my guy? Sure. So the book title is unfuck yourself. Ah, I have that one in my audible too. But go ahead. It is awesome. So the subtle art of not giving a fuck was really big for me over the last year, really big, right?
Starting point is 00:34:40 And our space of the info space being a personality that you can get a lot of people, you know, we call them trolls, so to speak. so I had to learn how to the subtle art of not giving a fuck but then you also have to learn how to unfuck yourself so I don't mean to be cussing up on your podcast like this but these are literally the names
Starting point is 00:34:59 what are you going to do? What am I going to do here? Who am I? I can't judge it, right? So anyways, great books. I gave you four business and personal. They're just awesome. That's awesome. So out of one of those F word books, what's something actually practical you took away from it?
Starting point is 00:35:16 I think the biggest thing that I keep talking about it is to really, really let go of what people think. It's the number one reason why people get stuck in fear or anxiety or simply don't do is because they're just so worried about what their family and friends and, you know, the outside world is going to think to the point where they won't post things on social media, even though they want to. They won't bring up an opinion that they feel passionate about because they feel like someone's going to judge them for, you know, so it's just been a huge thing for me to get out of my own way is just really don't care because are they going to give you a paycheck? Are their opinions going to cut me a check? Not at all, right? And especially in that business space. So I need to do what's right for me and my family. That was a huge, huge takeaway that both books really harped on is it is one of the largest reasons people don't do. yep yeah i say it all the time that your addiction to looking good is keeping you from everything that
Starting point is 00:36:19 you want and people just they want to look good or they just want to not look bad and that keeps them away from everything so super thanks guys uh joe if someone wanted to get in touch with you what would be the best way for them to do that uh well they can hit me um by my email probably the easiest it's the letter j then taylor t a y o'er at pdx renovations dot com j taylor at pdx renovations dot com j taylor at pdx Renovations.com. Super. Justin, what's the best way for someone to get in touch with you if they wanted to? I'm driving everyone to social media now. I'm making this a really big play going into next year. So at the Justin Colby on Instagram or at the Justin Colby on Facebook. My personal account already has 5,000 friends. So you have to find my public figure account.
Starting point is 00:37:02 The Justin Colby message me. I will reply and you can go from there. Awesome. At the Justin Colby. I like it. That's right. Christy, someone wanted to get in touch with you. What would be the best way for them to do that? Facebook for me, just find me on Facebook, my personal page, or you can email me at hoarder homes at gmail.com. Horder homes?
Starting point is 00:37:24 I like it. Yeah. It's got a ring to it. Yeah. Well, thanks. And let's do this. Let's stay in touch. Let's do this again.
Starting point is 00:37:30 Sound good? Perfect. All righty. So until next week, God bless to your success. I'm Matt Terrio. Yo. The dream. Yeah, yeah.
Starting point is 00:37:39 We got the cash flow. Yeah. the cash flow. Yeah, yeah, we got the cash flow. You didn't know, home boy, we got the cash flow. This podcast is a part of the C-suite Radio Network. For more top business podcasts,
Starting point is 00:38:16 visit c-sweetradio.com.

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