The Science of Flipping - Best Seller List That No One Else Has

Episode Date: March 15, 2021

Best Seller List That No One Else Has

What is up, everybody? What is up? Welcome back to the Science of Flipping podcast. And on this episode, we're talking about the number one secret list that you need to be using for motivated sellers. But before that, let's talk about that this podcast is all about the tools, the systems, the strategies, the operations, you know, for you to be a successful real estate investor, not just to be successful, but to be highly profitable. So if this is your first time listening to me here on the Science Flipping Podcast, make sure you subscribe to the podcast. Make sure you give a review. Of course, got to be five stars, hint, hint. And make sure you take advantage of my daily podcast, my daily episodes that come out each

and every day all about real estate investing and hopefully the tools and the tips and the tricks and the strategies and processes you can implement immediately. And that's what today is for. We have been working with Deal Machine for quite some time. And if you don't know what that is, it is a great driving for dollars app. Now, before you get all up and on and all upset about, oh, I'm not going to go drive for dollars and all that, you can actually utilize it virtually. I do have a great training on my YouTube about how to do that, where you can watch me go over how to virtually drive for dollars.

Just go to youtube.com forward slash Justin Colby and subscribe to that. By the way, if you have not yet subscribed to my YouTube channel, you have a lot of hundreds of real estate investing videos and trainings. There are hundreds on my YouTube channel. So go to youtube.com forward slash Justin Colby and subscribe. But ultimately deal machine.com. And then if you use promo code TSOF, stands for the science of flipping, TSOF, they'll give you a hookup on credits on different features. Deal Machine is great because the best list that most people can get without spending a fortune will be your driving for dollars list. And what you are focusing on is maintenance deferred properties.

Now, here's how my team leverages DealMachine is we essentially do virtual driving for dollars. We put the list into DealMachine and or now that DealMachine has access to Google Maps, you actually can go in and find all of the absentee homeowners right there in DealMachine has access to Google Maps, you actually can go in and find all of the absentee homeowners right there in DealMachine. And you can start adding all of those absentee homeowners to your list. And you combine that with looking at what the property looks like, right? Whether you do it through DealMachine or you do it through Google Maps, and now you have found an absentee homeowner that has a maintenance-deferred home and it looks terrible, they have a high likelihood that they're going to want to sell. Now, why this is so cool for everybody listening to this and why you should be implementing this today is because that list is only developed by you. You are the only person that's going to have that list because it's very specific to where you're targeting,

the area you're targeting. And if you don't want to necessarily include the absentee part, you don't have to. However, Deal Machine allows you to do that. And so ideally, you're focusing on homes that need repair, that have maintenance deferment. And usually that just means that whether it's absentee and the landlord just hasn't been keeping it up, or maybe the tenants have been brutal to the home, et cetera, that's a list that most people don't have.

Now, just for clarification, if I'm pulling a list of homes in that neighborhood for cold calling through, let's just say PropStream, let's say I pull a list through PropStream. By the way, you can go and get a free week of PropStream. Shout out to PropStream. If you use the promo code TSOF, TSOF for PropStream, and you'll get a free week, or you can go over to justinsdata.com and you can get the same thing.

Okay, so free week PropStream, you go pull a random list. Will that house be in the random list you pulled based around it being in the area? Yes. But the other homes may not be right. And so the key here is finding homes that are specific to maintenance deferment, which you can see on deal machine and on Google Maps. Again, if you want to have a visual learning of this, go to my YouTube channel, go to youtube.com forward slash Justin Colby. You'll see the virtually driving for dollars video. And essentially what you are going to do is pull that list out in Deal Machine. I like using absentee and the maintenance deferred, pull it out, skip trace it. Now you can skip trace it through deal machine. Yes. But I actually bring

it over to batch skip tracing. So I wait till I have, you know, several hundred, if not thousands of people on that list, depending upon how big your team is and how many you can get at one time, bring it over to batch skip tracing, upload it in batch skip tracing, use promo code TSOF. Everything is promo code TSOF and you will get a 3 cent discount on your batch skip tracing, which is massive, right? And so then I will call those people. I will call them and I will text them and I will do so until I get an answer. And this is a list that no one else has. And it's your number one list

because I can't tell me how many homes I've had that the homeowner's like, I'm tired of dealing with the house. And then you ask, you know, why don't you repair it yourself? And more often than not, their answer is I don't have the money to. And this is why they end up selling

is they don't have the money to repair the home. And you called them and they're tired of, if they're an absentee, they're usually tired of being a landlord. Um, and if they're not an absentee, then they're just, they need to move on. Right. And so they know that they aren't repairing the home because they don't have the money. This gives them motivation. And this is why you should be calling them consistently. Okay. So this list is huge. If you do have a team, what I've done with my team is I would make them have a requirement of finding five properties a day, right? And that could be too small for you. You might want to increase that to 10 properties a day. But over time, you're going to start to build a pretty darn big list that you can not only call, not only text, but you can send direct mail.

And guess what? If you so have the courage, I would actually go and door knock. Okay? Now, I tell people this all the time. Door knock, door knock, door knock. But guess what? No one does it. Like, I'm tired of saying it.

But if you are someone who is just getting started, needs to get their first deal, the highest motivation is going to be belly to belly. You use this training, virtually driving for dollars. You use the deal machine app and you go out there and actually physically knock on that door. Yes, I know it's awkward. Yes, I know it's weird, but you will have the best conversion ratio. Now, if you're doing this, you should figure you should convert one out of every 100 leads. So you need to go find

100 leads to put in your database, and you should be converting roughly one out of every 100 leads. It's not an exact science, meaning it might take you 125. Maybe it takes you 75. But roughly, your expectation should be one out of every 100 leads you convert. Again, I'll walk through the process. You use the app Deal Machine, dealmachine.com, promo code TSOF. You can use that as well in combination of Google Maps, no promo code on Google Maps. Then what you do is you add that list to your deal machine app. You pull out the deal machine app. You bring the list over to batch skip tracing.com batch skip tracing.com use promo code TSOF to get three cents off your skip tracing.

And then you start calling them and texting them. Now, for a good text service, I use Launch Control. So launchcontrol.us. They're going to make you fill out a form. That form, you simply want to let them know you heard of them from The Science of Flipping or Justin Colby, and they will hook you up. So I use launchcontrol.us when they make you fill out the form, say the science flipping or Justin Colby. And then I start texting the sellers, but I'm a massive advocate of actually calling them, right? So if you use Mojo sales or Zen call, or maybe you just pick up your cell phone and start calling them, it absolutely works. Now, this is really, really good for all investors. I don't care if you're just getting started.

If you're just getting started, this is your one must thing every single day. This is what you must do. If you're someone like myself and you have years experience, this is where you can have your team start doing it for you. And then building that list and they get incentivized because maybe you give them higher pay based around converting the lead that they found brought into the list, etc. Right. Depending upon where their pay is at. But this should go for each and every real estate investor out there. It doesn't matter how big your team is or just getting started. You guys need to be doing this. And then lastly, if you don't know how to virtually drive for dollars or what I mean by that, go to my YouTube channel, youtube.com forward slash

Justin Colby, watch the video. It's a great training and there's hundreds and hundreds of video trainings regarding real estate investing over there on my YouTube channel. So go watch them all. They're all for free. And hopefully this finds you guys well, and I'll talk to you guys on the next episode. Peace.