The Science of Flipping - Episode 143: How to Start Cold Calling Sellers?

Starting point is 00:00:00 Welcome to the Science of Flipping Podcast. I'm your host, Justin Colby. Yo, yo, what is up? What is up? It is Justin Colby from the Science of Flipping podcast and at thescienceflipping.com and welcome back to the Science Flipping podcast. This is again all about teaching you over 10 years of experience of building a successful real estate investing business on the tools, the tricks, the systems, the strategies you guys should be using in your business so you can take it, steal it, and use it in your business. And so today, a lot of people have known me for being able to build out a very successful call floor in this space using cold calling as one of my primary

Starting point is 00:00:58 marketing strategies. Again, I use seven different strategies, but I've been getting some questions over the last several weeks just about some of the systems, tools, what I do, what I go after. So I wanted to do a quick deep dive into cold calling and where I'm getting my list, what list I'm using, what dialer am I using, all of that kind of stuff. So you guys can use the resources I'm currently using. So first and foremost, I always use a triple line dialer, which is mojocells.com. There are several of them out there. So for me, I've used several of them. I like Mojo Cells for simplicity of use. Some other people use some that might have more features. That is not what I care about. I just care about the simplicity of use. You know, some other people use some that might have more features. That is not what I care about. I just can, I care about the simplicity of use. It also can be used as a CRM though.

Starting point is 00:01:53 I don't use it as a CRM. And again, for those of you that are taking notes on how to build, you know, not a call floor, but how to start cold calling, what systems to use, mojocells.com, mojocells.com. And so that is what I use for my triple line dialer. Now, what list do I use? Now, cold calling using a triple line dialer, you can get through roughly a hundred people an hour, roughly, depending upon how many conversations you have. So if that's the case, then, you know, I want to use a pretty massive list because I'll be able to dial a lot of people every single day. If I spend four hours cold calling, I'm calling roughly 400 people on a triple line dialer. So first, you should be using a triple line dialer. But secondly,

Starting point is 00:02:43 I would say that you need to get a pretty massive list, right? You don't want to get a list of a thousand because I'll take you two and a half days to complete and go through. So I go to, personally, I go to Find Motivated Sellers Now, which is my business partner, Kent Clothier's list provider. And I go and find that list as big as I can get there. I've also used my title company as a resource, or I've also gone to listsource.com or listability.com. And those are all paid list providers. My title company is the only one that is not paid because I do so much volume. However, if I wasn't doing the volume of deals with them, then yes, they still would charge me. Okay. So again, title company, find motivated sellers now with Kent Clothier and his

Starting point is 00:03:38 product, list source, listability. These are all resources to get big, massive lists. I'm not talking about the refined targeted list. I'm talking about going wide, not going deep and refined. So that is where I get my list. My list is this. Okay. So I'll try to go slow here so you guys can take it down and write it down. But I go after homes that are assessed value less than $300,000 and less, that they have owned the home for seven years, that is owner occupied and absentee. I want both. That the home was built older than 2005, older than 2005. And I want it in all of Maricopa County. So that is my entire list, right? So I'm getting the equity with the home being owned for seven years. I'm getting the home to be old enough to need rehab or create value by the home being built older than 2005.

Starting point is 00:04:50 I want to stay in a market where I have two exit strategies and that's being able to be under 300,000. It could be a great rental. It also could be a great flip. And then all of Maricopa County, owner occupied in absentee. That is my list. And lastly, I'll just go over quickly my script. If you guys want my script, I'll give it to you. Happy to give it to you. Um, first you have a choice that you can go to, uh, justincolbybook.com, justincolbybook.com. You should have an ability to download not only my book, but my phone scripts as well.

Starting point is 00:05:23 justincolbybook.com. You also could just simply email me info at thescienceofflipping.com and I'll happily give you my script. And so that's where you can get them. But my script is very basic because it doesn't matter whether it's a targeted motivated list or not. You simply want to know if they've been thinking about selling. So it goes something like this. Hi, my name is Justin. I'm a local cash buyer in the area. I was looking to buy home in your neighborhood. Have you ever thought about selling? And you listen to their answer, depending upon how they answer. And they say, yeah, I've actually considered selling. You say,

Starting point is 00:06:00 oh, well, how long have you considered it? Why haven't you listed it before? And then there's a whole script. Again, this isn't about the actual script, but that's the baseline, right? That gets the conversation started. Why haven't you listed it before? Why haven't you sold it before? Do you know when you would like to sell? These are all questions you'll be using in the script. And again, justincolbybook.com is actually the website that you can download it also with my book. And so that's really what I use, right? And then from there, it's the same business. I use Mojo Sales.

Starting point is 00:06:35 I use the list providers that I mentioned in my script. And I do it every single day, right? And I've done it so long that I've been able to build a team and hire people to do that. And that's a whole nother discussion that we can get into on a different episode about how to hire your cold callers. And maybe that's the next episode that we go into, but, um, this is exactly what I do. And again, depending upon your marketing budget,

Starting point is 00:07:00 this can be incredibly cheap and incredibly effective, right? This is what I've used to open up multiple markets. We're currently in San Antonio as well right now. And I am also in San Diego and the Inland Empire, all using the same cold calling strategy that I'm telling you now with the same system, the same tools, the same way of doing it. Now, again, as far as skip tracing, there are a lot of great skip tracers out there. If you can get your hands on a LexisNexis account, a TLO account, those are the very best of the best, LexisNexis and TLO. However, there are other ones like PropStream that are out there. There's other ones like IDI Core that are out there. I'm going to be hopefully announcing something here in the future that I can hook you guys up with and help you out with. But for the time being, IDI core, PropStream,

Starting point is 00:07:50 LexisNexis, TLO, there's just so many. Skip Genie, Skip REI, those are all services. If you just simply say, Skip Trace List in Google for real estate investing. You will be able to find several different companies. So that's it. That is how you cold call. That's how you, the systems you use, the strategies you use, the tools you use. So again, if you guys have been loyal listeners, please go and give a review. If you have not started following me on Instagram, the Justin Colby, or Facebook,

Starting point is 00:08:25 the Justin Colby, or follow my YouTube videos, Justin Colby VP, or even giving a review on iTunes, I would greatly appreciate it if you did that. I give away a ton of free content all the time. Make sure you are going to my Instagram, going to my Facebook. Again, my personal page on Facebook is at 5,000 friends. And so you can only go to my public figure page, the Justin Colby, then engage like crazy. I look forward to helping you guys out. So that is it. If you happen to hear this before May 24th, 25th of 2019, if you happen to hear it, I will be putting on my marketing and conversion intensive here in Scottsdale. It's a very small group. And if this is, you know, before that time,

Starting point is 00:09:11 the 24th, the 25th of May, 2019, feel free to email me, Justin at the science of flipping, regarding jumping on a phone call, because if not come one, come all, it is a very small group, very close knit. So not everyone's going to be invited, but I'm happy to talk to you if you want to be there. And yes, there will be a cost, but it'll be very small, very intimate, all focused on marketing and conversion.

Starting point is 00:09:36 So hope this finds you guys well. I'm out of here for this episode. I look forward to seeing you guys on the very next episode. Peace.

The Science of Flipping - Episode 143: How to Start Cold Calling Sellers?

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