The exact steps Greg Helbeck takes to wholesale a deal and absolutely push the boundaries of what he gets for it.
Greg Helbeck joined me this week on the Flipping Junkie podcast to share the exact steps he takes to wholesale a deal and absolutely push the boundaries of what he gets for it. This is truly fascinating and a game changer! You don’t want to miss what he had to say.
Listen in to find out the 6 reference points Greg uses for each motivated seller lead that helps him accurately determine whether there is a good likelihood of a deal.
We also discuss what it takes to increase the lead to deal conversion rate so you can do more deals with fewer leads. The conversation ended up going in a direction that was a shift in mindset we’ve never discussed before. This was a truly unique episode and I hope you have 30 minutes to listen in and benefit from it.
Check out Greg’s podcast!Greg Helbeck's Pave the Way Podcast
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00:00:03.360 –> 00:00:07.890
Danny Johnson: Alright hey Greg so glad to have you back on flipping junkie podcast thanks for joining me.
00:00:08.400 –> 00:00:15.210
Greg Helbeck: Danny it’s always fun to do these shows I love being a guest more than being a host and don’t tell why assistant that we’re still going to produce our show too.
00:00:16.710 –> 00:00:31.680
Danny Johnson: yeah I hear you man it’s uh it’s nice to be able to answer questions and not have to to think about what where the conversations going or what questions you know the audience might be thinking to themselves need to be answered, or whatever so yeah I get you on that.
00:00:31.980 –> 00:00:33.720
Danny Johnson: As well before before we we.
00:00:34.320 –> 00:00:48.030
Danny Johnson: sat down to record this we were talking about how you were doing bigger deals and you’re focused on conversions so let’s that’s that’s awesome because I think that’s a huge thing that a lot of investors aren’t so focused on.
00:00:48.480 –> 00:00:53.490
Danny Johnson: to their detriment, so why don’t you explain a little bit about why those things are so important to you.
00:00:53.940 –> 00:00:55.800
Greg Helbeck: yeah so i’ll talk about.
00:00:56.100 –> 00:01:08.430
Greg Helbeck: Bigger deal sizes first so a lot of people if you go on Facebook and you’re you know you’re on there for more than three minutes, I actually have a news feed eradicated now, so I don’t get lost in the sauce, but if you don’t have that you can get that for free on chrome.
00:01:09.180 –> 00:01:17.070
Greg Helbeck: everyone’s like I did 100 houses, I did 20 deal we got 15 contracts this month, which is all great stuff, but if you really like peel the layer back.
00:01:17.580 –> 00:01:22.560
Greg Helbeck: A lot of people are leaving lot of money on the table and they’re doing these little itty bitty mouse deals.
00:01:23.070 –> 00:01:31.860
Greg Helbeck: And that’s great i’d rather do that then do no deals, but at the same time, if you’re in an air, I mean really anywhere in the country now if you’re buying right which we’ll talk about with the conversions.
00:01:32.670 –> 00:01:43.170
Greg Helbeck: You can like double or triple the your deal size, on the same House if you just know how to maximize the profit, whether you’re wholesaling which we can get into or if you’re taking a deal down.
00:01:43.500 –> 00:01:50.370
Greg Helbeck: and doing construction or just doing a wholesale deal, you can make more money without having to necessarily work that much harder.
00:01:51.180 –> 00:01:59.010
Greg Helbeck: So, for example in our business our average wholesale deals around 30 grand you know, sometimes we’ll do deals that are 70 grand and sometimes we’ll do deals that are you know 15.
00:01:59.370 –> 00:02:07.710
Greg Helbeck: But normally it’s about 30 grand right and a big big reason for that I will say is our market is expensive so New York is insane San Diego is even crazier.
00:02:08.310 –> 00:02:18.090
Greg Helbeck: So the ARV is is is going to be higher, ultimately, but we can you can still do this in areas like San Antonio or Houston or wherever, where it is a little cheaper, you can still do those types of deals so.
00:02:18.780 –> 00:02:30.390
Greg Helbeck: We want me to get into like my my deal maximization strategy that i’ve learned from others I didn’t invent this at all, but i’m doing this alone will absolutely blow your profits through the roof.
00:02:30.840 –> 00:02:33.090
Danny Johnson: nope nope don’t want to share that that’s just.
00:02:33.120 –> 00:02:34.170
Greg Helbeck: For me i’ve secret.
00:02:35.250 –> 00:02:39.300
Greg Helbeck: A ball for the paywall yeah yeah i’m just kidding yeah so yeah let’s uh.
00:02:39.570 –> 00:02:45.150
Danny Johnson: yeah because I want to find out about that, and then you know after that kind of dig into.
00:02:46.110 –> 00:02:56.460
Danny Johnson: With because my first thought is okay, a more expensive markets, of course, the profit margin is good, I mean the the amount of profit, should be a lot higher because of the risk is higher, the amount of investment is more.
00:02:56.910 –> 00:02:58.410
Danny Johnson: And I want to talk about how that.
00:02:58.470 –> 00:03:03.780
Danny Johnson: How that is possible and markets like mine and San Antonio and other ones in between so.
00:03:03.840 –> 00:03:12.030
Greg Helbeck: yeah for sure so we’ll get into that, let me just cover the system that we have, where we will maximize our wholesale deals So the first thing is this.
00:03:12.360 –> 00:03:19.020
Greg Helbeck: it’s supply and demand, so there are deals, I will say this i’ll just go with disclaimer there are sometimes if the seller is really tough.
00:03:19.410 –> 00:03:27.330
Greg Helbeck: And you know might be in an area that not a lot of people want to buy in if you have less buyers right who are remotely interested on the initial communication.
00:03:27.780 –> 00:03:35.940
Greg Helbeck: it’s going to be a little bit harder to do this, but i’m saying let’s say you have a regular deal in a in an area that has solid demand and you’re not like dealing with a property in the middle of the woods.
00:03:36.330 –> 00:03:38.730
Greg Helbeck: i’ll just tell you an example and how we did this last week so.
00:03:39.390 –> 00:03:46.290
Greg Helbeck: I got a property brought to me this is from another investor he’s like I want you to wholesale this because I know that you know what you’re doing, and you guys have a system set up.
00:03:46.620 –> 00:03:51.000
Greg Helbeck: And I said absolutely let’s jv this thing i’ll take it from here and we’ll we’ll Max this thing out.
00:03:51.570 –> 00:03:57.960
Greg Helbeck: So the first thing I did was I sent out an email to my list, and I, this is the first key point to sending this email.
00:03:58.380 –> 00:04:06.330
Greg Helbeck: If you know it’s a hot deal, and you know it’s in an area where there’s there’s a lot of investor activity, I on purpose price the property.
00:04:06.750 –> 00:04:12.570
Greg Helbeck: Cheap because what I want to do is, I want to drive up the demand of people responding to that email.
00:04:12.840 –> 00:04:19.500
Greg Helbeck: So, then, I can get you know, the next step established which is basically taking the people who respond from that email or the text or whatever.
00:04:19.920 –> 00:04:30.840
Greg Helbeck: taking them and then we parse them out and we stick them into a separate database, where we have our process, so we have our general pool of prospects for buyers and then we have our pool of prospects for the subject property.
00:04:31.470 –> 00:04:37.710
Greg Helbeck: And then, once we have our pool of buyers for that subject property on this one we had like 15 people who are like literally begging for the property.
00:04:37.980 –> 00:04:45.450
Greg Helbeck: were to assume the deposit check to like they’re trying to like you know get the deal, without going through our process so i’m like hold your horses, this is how it’s gonna work.
00:04:46.020 –> 00:04:52.530
Greg Helbeck: And when you have something that is scarce, which is a smoking deal right that someone is going to make a lot of money on.
00:04:53.100 –> 00:05:02.250
Greg Helbeck: You got to tell the buyers how you’re communicating so I communicated the buyers I said listen, we have a lot of demand for this property you obviously know it’s a killer deal, especially at the number that we put it out at.
00:05:02.730 –> 00:05:07.920
Greg Helbeck: Most likely, this is going to go to highest and best, and I know it sucks for you i’ve been in that situation before.
00:05:08.130 –> 00:05:16.950
Greg Helbeck: But due to the demand we’re going to go to a highest and best scenario and before we do that i’m going to set up a one time showing this is the key here a one time showing.
00:05:17.310 –> 00:05:22.590
Greg Helbeck: The seller will be there are our partner Taylor will be there he’s the one who’s conducting traffic, because I don’t live in New York.
00:05:23.040 –> 00:05:28.980
Greg Helbeck: And you’re going to be able to go and see this property you’re going to not speak to it, we don’t say a word to the seller, or else you’re blacklisted.
00:05:29.460 –> 00:05:34.380
Greg Helbeck: And you’re going to walk around any inspections, you want to do be my guest you’ll have 45 minutes in the property.
00:05:34.800 –> 00:05:40.770
Greg Helbeck: When you’re done with that one time showing you’re going to see other buyers there and it’s going to get competitive side you’re going to have to put your best foot forward with an offer.
00:05:41.340 –> 00:05:47.910
Greg Helbeck: When you’re done seeing the property our bet our offers are going to be do the next day at 3pm Eastern.
00:05:48.330 –> 00:05:54.870
Greg Helbeck: So I told the buyers in advance, and this is like a sales tactic it’s the upfront contract, this is exactly how we’re going to play ball.
00:05:55.170 –> 00:06:02.190
Greg Helbeck: If you want to play ball this way we’d love to have you be in the in the bidding system if you don’t want to do that I get it no pressure.
00:06:02.520 –> 00:06:15.120
Greg Helbeck: And we’ll go from there, and every single buyer is like yes, so we had 15 people in this House and immediately when people left that property, I was just you know 151 60 you know and everyone was like just just.
00:06:16.500 –> 00:06:19.260
Greg Helbeck: We put the property out for 139 on purpose and all the sudden.
00:06:19.680 –> 00:06:27.660
Greg Helbeck: You know it started rising rising rising, so I started processing those offers at that point they’re starting to come in the deadline was like I think it was in like two hours from there.
00:06:28.350 –> 00:06:38.610
Greg Helbeck: And if we got down to our top three so at that point, I told all the people who were not high enough that unfortunately this is, you know going to the top three people who are way higher than you.
00:06:39.210 –> 00:06:46.050
Greg Helbeck: And they were okay with that and I actually got on the phone with the top three I still sit in this position seat in my company so i’m the one selling the properties.
00:06:46.470 –> 00:06:49.800
Greg Helbeck: Like at least through the phone i’m not going there but i’m the one dealing with all the communication.
00:06:50.340 –> 00:06:54.870
Greg Helbeck: And I said hey you’re in the top three so I got on three separate phone calls with the buyers and I said listen.
00:06:55.470 –> 00:07:04.620
Greg Helbeck: it’s going to come down to a highest and best scenario, so I just want you to submit the absolute most you’re willing to pay for this property i’m not telling you what the other person’s offering you submit your highest and best offer.
00:07:05.010 –> 00:07:10.320
Greg Helbeck: And i’m going to simply make a business decision at three o’clock and it’s nothing against you personally.
00:07:10.770 –> 00:07:19.020
Greg Helbeck: With the demand on this property, this is the I have to do this, you know it’s it’s honestly my fiduciary responsibility to my team to do this, and they all understood.
00:07:19.560 –> 00:07:24.660
Greg Helbeck: And we literally got this property from 139 to 170,000 500.
00:07:25.440 –> 00:07:33.570
Greg Helbeck: Through an email right through creating the competition through creating the feeding frenzy to having them it’s all human psychology they want this property it’s scarce.
00:07:33.810 –> 00:07:38.460
Greg Helbeck: They see other people competing for and they know it’s a killer deal, even at 170 or 170 500.
00:07:39.060 –> 00:07:47.040
Greg Helbeck: We got everyone to raise their price and ultimately we’re in contract now with a buyer at 170,500 we’re buying the House for 100 and.
00:07:47.430 –> 00:07:53.220
Greg Helbeck: Either 100 to 110 it’s it’s going to depend on the mortgage balance but either way we’re going to make a lot of money and that deal.
00:07:53.760 –> 00:08:06.720
Greg Helbeck: I could have simply just said to one random buyer I know hey man would you buy this property, for one, you know 40 and yeah would have made money, they would have been great, but by doing it this way, which is uncomfortable which usually leads to some friction some tension.
00:08:07.770 –> 00:08:20.910
Greg Helbeck: were able to literally double the deal, without having to do another one right so that is how I like to do our wholesale deals when we have the right property in the right area, and we know that it’s going to most likely go gangbusters like every deal in San Diego pretty much this happens.
00:08:21.930 –> 00:08:24.120
Greg Helbeck: it’s uncomfortable number one and number two.
00:08:25.020 –> 00:08:34.980
Greg Helbeck: You have to be willing if you’re if you’re cool with your buyers you got to be willing to just be a straight up with like listen like this is it is what it is, I mean there’s one property there’s 10 buyers.
00:08:35.970 –> 00:08:45.180
Greg Helbeck: i’m going to have to do what’s best for us and we’re not going to do shady stuff we’re not going to like tell one buyer they’re buying it and then go ahead and tell them that their offer wasn’t good enough like I tell every buyer.
00:08:45.840 –> 00:08:51.900
Greg Helbeck: whoever’s offer I accept i’m going to do business with them so once they have my word that i’m selling them the property.
00:08:52.380 –> 00:09:01.320
Greg Helbeck: If 20 minutes later rolls by and someone else comes in 20 grand higher once I give that buyer my word my word is bond so i’m not going to take the higher offer once I give my word out.
00:09:01.800 –> 00:09:13.530
Greg Helbeck: The deal is is going to go down so because of that this is why i’m selecting the buyer at 3pm, this is the deadline this when you got to Max your offer out and once I make a decision nobody’s changing their mind.
00:09:13.980 –> 00:09:18.420
Greg Helbeck: And by doing that the buyers a they respect you and be they’re going to just straight up offer more money.
00:09:18.720 –> 00:09:24.750
Greg Helbeck: And the one deal, we would have made what 2530 on we’re going to make you know 60 on or whatever it is 5560 grand.
00:09:25.140 –> 00:09:30.210
Greg Helbeck: And it didn’t really take that much work, and it was the same property same seller same address same process.
00:09:30.540 –> 00:09:39.030
Greg Helbeck: double the money so there’s a lot there I kind of rambled for a minute obviously you can probably tell me my energy I love talking about this stuff because it just straight up puts more money in your pocket.
00:09:40.530 –> 00:09:43.080
Danny Johnson: Now I didn’t want to interrupt you because I wanted you to keep going because.
00:09:43.800 –> 00:09:44.940
Greg Helbeck: You know how to get me back.
00:09:45.600 –> 00:09:50.790
Danny Johnson: was excellent, that was a there’s so many things I love about that, and I think the biggest one is.
00:09:52.170 –> 00:10:03.240
Danny Johnson: You know the the the real thing there, and you emphasized is having you know just laying out the rules and the way it’s going to all go beforehand, because then.
00:10:04.110 –> 00:10:10.020
Danny Johnson: You know it doesn’t seem like you know, a slap in the face, or just like this whole like Oh, I thought I was going to get it and.
00:10:10.110 –> 00:10:12.480
Danny Johnson: yeah now this other stuff they’re playing games with me.
00:10:12.480 –> 00:10:16.020
Danny Johnson: yeah I knew ahead of time what was going to happen or likely to happen.
00:10:16.350 –> 00:10:18.660
Danny Johnson: And it’s just happening that way so it’s not such a.
00:10:19.050 –> 00:10:22.200
Danny Johnson: thing where you’re starting to feel like like adversarial right.
00:10:22.530 –> 00:10:23.160
Danny Johnson: Total them.
00:10:23.490 –> 00:10:25.800
Danny Johnson: Oh yeah that’s awesome I love it so much and.
00:10:26.490 –> 00:10:34.950
Danny Johnson: You know, it just it’s like back in the day before you know things when things were really hot back in like 2006 all the auctions people would call the houses and stuff.
00:10:35.580 –> 00:10:42.030
Danny Johnson: And you know it’s kind of the same thing you know but it’s not in person and just kind of like everybody knowing other people are bidding.
00:10:42.390 –> 00:10:44.160
Danny Johnson: yeah so.
00:10:44.430 –> 00:10:53.520
Danny Johnson: So people feel a little bit more comfortable maybe submitting those offers but man that’s that’s excellent stuff and, especially, because if you can do that well.
00:10:54.240 –> 00:11:06.480
Danny Johnson: And you know that there’s other investors in town that could benefit from that those jv wholesale deals where you’re not even having to find the deals and bring the extra value to them, but also profiting from it, I mean it’s huge.
00:11:06.960 –> 00:11:11.550
Greg Helbeck: Totally I say this to other investors in my market and I I say if you’re brand new.
00:11:11.580 –> 00:11:13.410
Greg Helbeck: You can obviously do whatever you want.
00:11:13.830 –> 00:11:20.130
Greg Helbeck: But I tell them I said, if you’re new and you don’t have experience, especially dealing with buyers i’ve dealt with hundreds and hundreds of buyers.
00:11:21.060 –> 00:11:27.960
Greg Helbeck: odds are you will most likely make more money after you split a deal with our company, then you would on your own.
00:11:28.350 –> 00:11:34.920
Greg Helbeck: Just from the lack of experience and then, when you watch how we do it, you can then do it on your own and do the same thing so.
00:11:35.400 –> 00:11:43.920
Greg Helbeck: The investors, the Ben Amos you don’t have to just do this on jv deals we do this with our own deals too, but when you have a system in place for doing this.
00:11:44.580 –> 00:11:51.660
Greg Helbeck: It becomes very easy to follow, like the first time I did this, I was literally peeing my pants like it was actually in San Diego I was like in the hood.
00:11:51.930 –> 00:11:54.870
Greg Helbeck: At this House, and there was 15 people in this like crack shack.
00:11:55.200 –> 00:12:02.640
Greg Helbeck: And all like the tenants outside were like looking at me like when this guy had his range Rover parked on the side of the crass it’s like getting dark out the hood and i’m like.
00:12:03.060 –> 00:12:12.060
Greg Helbeck: You know, saying a prayer but you know, I was uncomfortable and I ended up you know blowing that house out of the water too so like once you do it, you become like desensitized to it.
00:12:13.290 –> 00:12:20.580
Greg Helbeck: And it, you can you can just straight up make more money on the same lead and everyone always says oh it’s competitive out there it’s hard to get deals which is true and it’s true.
00:12:20.850 –> 00:12:30.240
Greg Helbeck: But if you can maximize the profit on your deals and do this in a way, where we don’t do this on every house, because sometimes it’s just a scenario where you just can’t do it, you can’t get side or the owners nuts.
00:12:30.990 –> 00:12:35.340
Greg Helbeck: But it’s all about the communication, if you can communicate this with the buyers communicate this with the sellers.
00:12:35.910 –> 00:12:39.930
Greg Helbeck: I didn’t mention that, too, by the way, I got to talk about that and minerals, this would build through the whole thing off.
00:12:40.740 –> 00:12:48.690
Greg Helbeck: When you can manage communication and have them both agree that that’s Okay, it makes it really simple, so let me just talk about how to set the stage with the seller, because this is.
00:12:48.690 –> 00:12:54.120
Danny Johnson: really important, I was gonna be my next question so you can yeah oh my gosh you can get yourself in hot water, if you don’t do that so.
00:12:54.480 –> 00:12:59.220
Greg Helbeck: Before this showing happen, I personally called the seller, with the other investor.
00:12:59.790 –> 00:13:08.520
Greg Helbeck: And I said, let me normally I don’t do this Brett would do this, but let me just call the seller, because I don’t I didn’t have a relationship with the seller like normally if it’s a deal we get Brett would tell me all about it and I kind of know.
00:13:08.730 –> 00:13:13.950
Greg Helbeck: But this one, I had no clue what the seller was like so I just let me sniff the seller up, so I called the seller.
00:13:14.490 –> 00:13:22.110
Greg Helbeck: And I said hey Mr seller, I just want to let you know I appreciate you letting letting us in later on today at 5pm I did this like three o’clock local time.
00:13:22.530 –> 00:13:31.290
Greg Helbeck: And I said just to set the stage it might get a little crazy here for 45 minutes there’s going to be a ton of people in here we’re going to have prospective buyers are probably gonna have some contractors.
00:13:31.560 –> 00:13:39.450
Greg Helbeck: And there’s going to be 10 or 15 people walking around your House and I just want to let you know it might be a little nuts, the benefit is that, after this meeting is over.
00:13:40.020 –> 00:13:44.700
Greg Helbeck: Maybe one more time we got to go and after that you’ll have your money and this thing will be all all said and done.
00:13:45.030 –> 00:13:51.810
Greg Helbeck: So I told the seller in advance there’s going to be buyers in the property there’s going to be contractors in the property which is true and true.
00:13:52.200 –> 00:13:59.760
Greg Helbeck: And I said it’s gonna be crazy it’s theirs it’s going to be a madhouse in your property and I just want to make sure that you’re okay with that, so we can have a smooth meeting today.
00:14:00.240 –> 00:14:06.120
Greg Helbeck: And if the seller wasn’t okay with that obviously I would have switched it up a little bit, and I would have been a little more strategic with the buyers.
00:14:06.300 –> 00:14:19.140
Greg Helbeck: But the souls are going all totally it’s fine it’s all good they can come in there it’s all good so like when there was 15 people in the House and it looked like it was a Congo wine going in and out of there, he was he knew exactly what to expect right, so there was no no drama.
00:14:20.550 –> 00:14:24.300
Danny Johnson: How often do you have sellers that are apprehensive about that I don’t want to happen.
00:14:25.230 –> 00:14:33.750
Greg Helbeck: I would say, probably like one out of one out of four maybe we’ll get a little sketchy about that, and when that happens it’s it’s like you go back to the buyers and said listen.
00:14:34.170 –> 00:14:41.070
Greg Helbeck: i’m only bringing two people in this House so you’re going to have to make an offer sight unseen and if the offer is appealing i’ll take you inside with one more person.
00:14:41.820 –> 00:14:50.730
Greg Helbeck: But due to the seller and due to access I can’t get 15 people in here so in order to qualify for this property you’re going to have to submit an offer, and we take literally hundreds of pictures.
00:14:50.760 –> 00:14:53.310
Greg Helbeck: And videos so like they pretty much know what they’re getting into.
00:14:54.420 –> 00:15:04.470
Greg Helbeck: But you know it’s all about setting the right expectations like if that seller told me hey no more than five people I would have respected them, and I would have said hey buyers, this is the deal we got five people.
00:15:04.920 –> 00:15:09.600
Greg Helbeck: You want to be in the top five we need highest and best right now and then, when you go in the property, you can confirm your numbers.
00:15:10.020 –> 00:15:25.170
Greg Helbeck: And a lot of the buyers in my market at least the good ones, they also wholesale so they know exactly what the deal is so they’re not like oh my God I can’t believe you’re doing this, you Greg you’re giving me all these good deals and now you’re like oh it’s like they wholesale to.
00:15:25.260 –> 00:15:26.970
Greg Helbeck: So they know exactly where i’m coming from.
00:15:27.090 –> 00:15:29.340
Greg Helbeck: And a lot of them are my personal friends so it’s like.
00:15:29.790 –> 00:15:36.840
Greg Helbeck: You know they they know the deal which is easier say it’s the same exact thing in San Diego like everyone pretty much knows each other out here so which is weird because it’s a huge city, but.
00:15:37.260 –> 00:15:45.720
Greg Helbeck: Anyway, small small investing community, but when you set the communication right with the buyer and the seller, and you have a property in an area where you know it’s going to go like crazy.
00:15:46.260 –> 00:15:52.260
Greg Helbeck: If you price it low on purpose that’s, the key to getting your email like response to shoot up because people are like.
00:15:52.470 –> 00:15:57.420
Greg Helbeck: You know when i’m checking email i’m looking at the thing for 15 seconds and if it’s something of interest i’ll respond if it’s not i’ll delete it.
00:15:57.840 –> 00:16:08.580
Greg Helbeck: If I see a property for like 140 in a certain zip code oh that sounds like a killer deal and then all of a sudden 450 other people saw the same thing and it triggers this massive response.
00:16:09.480 –> 00:16:22.980
Danny Johnson: yeah that’s in whenever you do things like that, if there’s a way to post that publicly somewhere somehow to be able to build a buyer’s list as well right, like all the people that aren’t already on your buyers list is there anything that you ever do like that to.
00:16:23.190 –> 00:16:33.360
Greg Helbeck: Try to build your buyers absolutely we there’s one way we do it is we go in Facebook groups and will say actually this is how I built My big database and San Diego is, I had a property in spring Valley, which is.
00:16:33.630 –> 00:16:43.980
Greg Helbeck: A little little sketchy area out like San Diego county but there’s a lot of investor activity and I went into Facebook it wasn’t even an investor group is a San Diego real estate professionals Facebook group is like 5000 people in there.
00:16:44.580 –> 00:16:52.860
Greg Helbeck: And I didn’t have it locked up yet, but I said hey I got a property in spring valley that i’m gonna be getting into escrow on in the next two weeks it’s going to be a killer deal it’s a two family.
00:16:53.220 –> 00:16:59.760
Greg Helbeck: And i’m going to look to sell the thing at a deep discount who’s interested 75 people responded to that Facebook posts and.
00:17:00.660 –> 00:17:05.460
Greg Helbeck: active campaign oh there we go right, the thing was sold like an hour later, once we got it under contract.
00:17:06.360 –> 00:17:14.370
Greg Helbeck: So post things like your activity like doesn’t have to be you can do a specific property I wouldn’t really put the address online that can get a little hairy depends on.
00:17:14.640 –> 00:17:19.440
Greg Helbeck: You can do that, but in our market you got to like have all these riders in the contract or whatever, but.
00:17:20.010 –> 00:17:28.140
Greg Helbeck: If you just put like hey I have an off market property i’m going to be getting involved in the next couple weeks is there any buyers who would be interested in that area i’d love to either partner with you or sell it to you.
00:17:28.410 –> 00:17:34.890
Greg Helbeck: And you get you can like kind of build your list in advance, and especially when you say where the property is like the zip code or the town or the city.
00:17:35.220 –> 00:17:40.110
Greg Helbeck: You can pre you know you can kind of pre fill that demand, so that when you get the property already know who you’re gonna probably sell to.
00:17:40.890 –> 00:17:42.810
Danny Johnson: yeah that’s awesome I love that idea.
00:17:45.000 –> 00:17:49.590
Danny Johnson: And then he was like for that for that one that you gave the example of just recently.
00:17:50.130 –> 00:18:03.180
Danny Johnson: What would you say, and I know this this isn’t The thing that caused it right or that you have to have this to have that kind of thing happened but Would you mind telling us what the size of that buyers list in New York, that you sent that to was.
00:18:03.930 –> 00:18:05.520
Greg Helbeck: it’s about 450 people.
00:18:06.630 –> 00:18:15.840
Greg Helbeck: Which which, like it’s a lot because there’s the people on that list are real, serious buyers but compared to some other people have like 45,000 people on their list.
00:18:16.380 –> 00:18:29.790
Greg Helbeck: I mean I don’t I don’t have that size of the list, because my market isn’t that big, ultimately, but I know the people on my list personally know me like they personally know who Greg ellerbeck is they know who velocity house fires is so when they see the email they know exactly.
00:18:30.180 –> 00:18:39.240
Greg Helbeck: Like who it’s from it’s not a bunch of like random daisy chain owners who are going to send it to their cousin who’s going to send it to their brother who’s going to assign it to some other knucklehead.
00:18:39.510 –> 00:18:46.320
Greg Helbeck: Like they’re people who are like no and a vetted and either have had a conversation with or they know that we’re doing business in that market so.
00:18:46.980 –> 00:18:57.600
Greg Helbeck: When we put a deal out to that list, I mean if it’s a deal will know right away we’ll get responses and we don’t get like we don’t get a lot of crazy knuckleheads to respond usually.
00:18:58.860 –> 00:19:05.580
Greg Helbeck: San Diego is very similar I have a list thing it’s like 80 people, but the people on that list, I personally know or.
00:19:05.640 –> 00:19:12.120
Danny Johnson: I saw quality over quantity yeah I mean you can set out to say I need a big buyers list and then all your efforts are doing.
00:19:12.870 –> 00:19:22.470
Danny Johnson: nothing but trying to get the number boosted for the number of people on this list you know, maybe that’s not such a good use of your time right like you can build a smaller one but build it more quality.
00:19:22.980 –> 00:19:30.240
Danny Johnson: And then have those interactions with people right so not just whenever you have deals to blast out, but maybe like send out something to just you know.
00:19:30.270 –> 00:19:33.810
Danny Johnson: Read the newsletter who you are like take my email seriously right.
00:19:34.170 –> 00:19:44.850
Greg Helbeck: yeah exactly and like that’s the thing I like about doing it, that the the with like the smaller list, I mean 400 people still like good, and these are like real buyers or agents who have buyers so.
00:19:45.480 –> 00:19:48.900
Greg Helbeck: yeah I mean it’s it’s it’s very engaged a very engaging list and.
00:19:49.470 –> 00:19:57.480
Greg Helbeck: A lot of them like personally know me right so so like they know that i’m not gonna you know send them some garbage deal, but you know is from some knucklehead.
00:19:58.230 –> 00:20:08.820
Greg Helbeck: You know, like I don’t just like there’s a lot of daisy chaining going on now, and I actually sometimes we will have scenarios where another investor can’t move their deal and then you’ll hit me up and there might be some overlap and I will put a.
00:20:09.240 –> 00:20:26.820
Greg Helbeck: humongous disclaimer on that email and i’ll say disclaimer if you’ve seen this property before I have permission from the other investor, we have a jv partnership sign and i’m helping them try to get their property sold as you can see per above the price is the same like so like.
00:20:27.450 –> 00:20:37.680
Greg Helbeck: I communicate so clearly, with the buyers like anything they could think of is already probably disclosed in my email so that doesn’t happen that often usually you know just.
00:20:37.890 –> 00:20:38.160
Danny Johnson: You know.
00:20:38.250 –> 00:20:40.020
Greg Helbeck: They can’t move their deal it’s probably not a deal.
00:20:40.050 –> 00:20:40.800
Greg Helbeck: Like quite frankly.
00:20:41.670 –> 00:20:45.540
Danny Johnson: This is all about real relationships and how you’re running your business.
00:20:45.990 –> 00:20:53.850
Danny Johnson: Right The fly by night and get rich quick kind of people don’t you do the things that you’re talking about during this episode, and so I think that thread kind of runs through it right it’s like.
00:20:54.300 –> 00:21:05.010
Danny Johnson: Being upfront with people about how things are going to go like what what’s going to happen, how it works right they trust you they want to play into it, because they see you’re putting it out there for what it is.
00:21:05.490 –> 00:21:14.250
Danny Johnson: And then, even in your communications with the deals that you’re you’re koji being or jv and you know, making that clear that when you see this stuff i’m not trying to.
00:21:14.910 –> 00:21:23.310
Danny Johnson: To to rip anybody off or or you know trick anybody into anything and so it’s all out here it’s all on the table it’s all right here.
00:21:23.400 –> 00:21:28.560
Greg Helbeck: Exactly and they know that and they know that we’re going to do what we say we’re going to do and.
00:21:29.340 –> 00:21:33.120
Greg Helbeck: That goes a long way in our business right, I mean there’s a lot of people who just.
00:21:33.780 –> 00:21:38.040
Greg Helbeck: They just don’t do what they say they’re going to do right and it’s the same thing with sellers which we’ll get into in a minute it’s like.
00:21:38.520 –> 00:21:47.310
Greg Helbeck: We give them an offer and it’s a real offer with no contingencies like we’re gonna close right, whether we wholesale it or not, we’re going to close like so it’s got to make sense for us for them.
00:21:47.790 –> 00:21:57.150
Greg Helbeck: But we’re not just going to put out some bogus offer and like roll the dice if we’re going to roll the dice there’s a contingency period and they know that there’s a chance we might walk away because they’re probably asking for too much.
00:21:57.450 –> 00:22:01.380
Greg Helbeck: So it’s all about communicating right, the better anyone can get a communicating.
00:22:01.920 –> 00:22:06.570
Greg Helbeck: The easier it’s going to be to go through the the day to day activities of your business because.
00:22:06.960 –> 00:22:15.630
Greg Helbeck: You just like kind of like debunk a lot of these landmines that will inevitably blow up if you don’t communicate properly and people know exactly what they’re getting into right it’s like when you’re selling a house.
00:22:15.990 –> 00:22:22.890
Greg Helbeck: And it’s you know, in a bad neighborhood or something at this properties in an area little rough I mean you can drive by and see yourself but.
00:22:23.370 –> 00:22:29.040
Greg Helbeck: don’t take my word for it go see it yourself and then make a decision, if the property is for you or not, and we do the same thing Rentals.
00:22:29.850 –> 00:22:43.140
Greg Helbeck: In a rough neighborhood and it please see the property before you decide to you know sign the lease I don’t want to get a call saying oh i’m scared to walk out to my car you knew going in advance what you’re getting into so communication is key.
00:22:43.800 –> 00:22:51.930
Danny Johnson: yeah that’s that’s really, really big I remember one time a lot like early in my career in this business in having a rental property.
00:22:52.740 –> 00:22:59.820
Danny Johnson: Where the people that moved in you know called me like the week after they moved in with my son just got jumped on the way home from school and it’s like.
00:22:59.850 –> 00:23:01.020
Danny Johnson: Oh boys.
00:23:01.110 –> 00:23:14.520
Danny Johnson: yeah you know I just felt horrible it’s like that you know they didn’t you know, and I didn’t I didn’t live there right, so I didn’t know that it was like you know that bad, but that did feel like really, really bad to hear but there’s nothing I can really do about it but.
00:23:14.550 –> 00:23:20.460
Greg Helbeck: Interesting tenants real quick with tennis i’ve had some horror stories for tenants like just absolute horror stories and like.
00:23:21.120 –> 00:23:27.480
Greg Helbeck: I always tell the tenants, because I, I will interact with them a little bit like if it’s like something that’s like like serious.
00:23:28.140 –> 00:23:37.530
Greg Helbeck: i’m always like listen if you’re not happy in the property i’m not going to force you to stay here i’ll give you your security deposit back keep the leave the property in decent shape.
00:23:38.280 –> 00:23:41.190
Greg Helbeck: And you can get out of there like I make the 10 like it’s not where it’s like.
00:23:41.610 –> 00:23:47.550
Greg Helbeck: If you’re not happy i’m not happy right and there’s so much demand for Rentals nowadays it’s like i’ll just get another tenant so.
00:23:47.910 –> 00:23:52.260
Greg Helbeck: That that happened with tenants before where there was like unmet expectations and educate more money back and said.
00:23:52.470 –> 00:24:02.400
Greg Helbeck: I don’t want you to be here on happy, you know, maybe i’m too, Nice and light with New York, though, like the law landlord was up there, this is not Texas it’s like you got a bad tenant you’re going to be six months to get them out.
00:24:02.460 –> 00:24:05.640
Danny Johnson: If you yeah yeah yeah that that makes it a lot easier.
00:24:06.270 –> 00:24:22.170
Danny Johnson: You happier for everybody right with that situation well we’re we’re we’re pretty far into it and I definitely want to make sure that we cover the the conversion, you know, lead to do conversion turning more of those leads into deals So what do you have for us about that.
00:24:22.290 –> 00:24:29.430
Greg Helbeck: yeah so there’s a few things that I want to mention on conversion, so I could talk about this for hours, the first thing I found this this actually happened in our.
00:24:29.430 –> 00:24:29.970
00:24:31.230 –> 00:24:37.110
Greg Helbeck: Back in I think the winter know in the fall of 2020 we were running into a challenge, where.
00:24:37.680 –> 00:24:42.630
Greg Helbeck: we’re getting a lot of leads, but a lot of leads this work didn’t seem to be good leads, as I would say.
00:24:43.140 –> 00:24:52.110
Greg Helbeck: And I was like spending all this money on marketing getting the phone ring, how can this conversion like what’s going on here like i’ve studied sales I bought houses like what’s going on here.
00:24:52.650 –> 00:24:59.010
Greg Helbeck: So I started to like take a deep dive and I what I did was, I took the data from deals that i’ve closed.
00:24:59.520 –> 00:25:09.930
Greg Helbeck: And then I tried to like look through all the common factors on like, why did this person sell me their house at a discount like what What was their story, what was the condition like what was their timeline like.
00:25:10.380 –> 00:25:19.200
Greg Helbeck: And I found six things that were very interesting than made up a lot of these deals number one the seller when they call they had a real why for selling the House it wasn’t like i’m getting foreclosed tomorrow but it’s like.
00:25:19.560 –> 00:25:25.950
Greg Helbeck: i’m selling my house I don’t live there i’m relocating they had a story behind why they were so they were like what’s your offer.
00:25:26.310 –> 00:25:30.450
Greg Helbeck: Maybe it’s right price like that those people are most likely never going to sell their house to you at least anytime soon.
00:25:31.320 –> 00:25:39.720
Greg Helbeck: The second thing was the property was either vacant or there was like one unit that was vacant if it was like a duplex or some there’s some sort of like unoccupied scenario going on, so that’s two.
00:25:40.200 –> 00:25:46.140
Greg Helbeck: Three was at their timeline was either six months or less sometimes it was yesterday, sometimes it’s like hey I want to sell by the summer.
00:25:46.560 –> 00:25:56.670
Greg Helbeck: The fourth thing is that the property needed some updates like it just needed updates or it was a total disaster like there was there was a value add component to the property where it wasn’t turnkey.
00:25:57.270 –> 00:26:02.910
Greg Helbeck: The fifth thing is that there, this is like really specific for like San Diego in New York, because the markets are NUTS they’re.
00:26:03.420 –> 00:26:08.730
Greg Helbeck: they’re asking price was below zillow for some reason now we’re redfin whenever whatever you know tool you use but.
00:26:09.060 –> 00:26:17.850
Greg Helbeck: Right off the BAT they’re asking less than what zillow or redfin thinks and in recent San Diego when that happens you’re probably going to make money um and then the last thing was this is my favorite.
00:26:19.080 –> 00:26:24.180
Greg Helbeck: They didn’t want to list their house for some reason, like we talked about the real estate option we talked about listing it.
00:26:24.660 –> 00:26:32.760
Greg Helbeck: And they just didn’t want to list it for some reason, they just didn’t want to list it and they justified on the phone why they did not want to list their house, so what we started doing in our businesses, I saw that.
00:26:33.300 –> 00:26:40.980
Greg Helbeck: Literally every property I took my took my trailing 20 and i’m like all right, these are 20 actual deals we’ve purchased Let me take a look at like the commonalities here.
00:26:41.520 –> 00:26:47.640
Greg Helbeck: And every single seller without question check it least three of those boxes, if not four or five, sometimes even six.
00:26:48.090 –> 00:26:55.680
Greg Helbeck: So what we started doing in our business on the conversion side is we started tightening up tightening up the criteria of what a real lead was in our business.
00:26:56.130 –> 00:27:05.670
Greg Helbeck: And what we did to to kind of make that tangible, is that we had every prospect when they came through the funnel if they didn’t check two boxes at minimum.
00:27:05.970 –> 00:27:11.130
Greg Helbeck: They weren’t deemed a lead in our company for our kpis they were a prospect, they were someone in our system.
00:27:11.490 –> 00:27:15.630
Greg Helbeck: But they were not we call it a net lead in our business and that there’s a gross lead and there’s a netsuite.
00:27:16.170 –> 00:27:22.470
Greg Helbeck: To be in that lead you gotta check two boxes, if not more so we started getting a little more tight with our criteria.
00:27:23.010 –> 00:27:30.390
Greg Helbeck: And then, when it comes to the actual converse so when you do that you’re going to get quote unquote less leads but you’re going to get better leads, which is going to work you’re going to convert higher because they’re going to.
00:27:30.690 –> 00:27:36.810
Greg Helbeck: kind of fit that Avatar easier and you can almost disqualify prospects just by using that system by the fact that they.
00:27:37.170 –> 00:27:42.900
Greg Helbeck: Have no reason for selling it’s in good shape there’s no timeline they’re just looking for an offer, because he cold call them on a Tuesday night.
00:27:43.710 –> 00:27:48.630
Greg Helbeck: they’re probably not selling at a discount right at least right now, maybe their situation will change, which you know follow up is important.
00:27:48.990 –> 00:27:57.570
Greg Helbeck: So we started doing that, which is a huge pillar and the second thing that we love to do with sellers when it comes to conversion is getting commitments from sellers in advance, just like I said, with the buyers.
00:27:58.080 –> 00:28:02.130
Greg Helbeck: You know a lot of sellers they do want to sell they are, they have a problem, we can solve.
00:28:02.430 –> 00:28:09.180
Greg Helbeck: But sellers are very flaky they’re very flaky people they’re not used to making commitments for the most part i’m not trying to generalize every seller here, but most of them.
00:28:09.630 –> 00:28:15.270
Greg Helbeck: they’re very tough of committing to things that’s why they might be selling their house at a discount or they might be some unfortunate situation.
00:28:15.630 –> 00:28:20.730
Greg Helbeck: And you know that that’s just the reality of our business so when you get commitments from sellers in advance.
00:28:21.060 –> 00:28:25.620
Greg Helbeck: It makes the sales process, a lot more efficient it’s not going to guarantee you’re going to get every deal.
00:28:25.980 –> 00:28:35.220
Greg Helbeck: But you’re going to have an agenda set with a seller where there’s specific next steps that are going to going to happen after we get off the phone or after we meet at their house or whatever the case, might be so i’ll give you an example.
00:28:35.760 –> 00:28:47.460
Greg Helbeck: We have a lot of deals we get where it straight up comes down to a negotiation it we go through the sales process we find out their pain find out the deal killers we find out all the things that are necessary to to see if there are serious fit.
00:28:47.880 –> 00:28:52.080
Greg Helbeck: And we start negotiating and then we’re negotiating over the House where you know they have a number of we have a number.
00:28:52.410 –> 00:28:59.040
Greg Helbeck: And what i’ve found that is when you have a seller who’s finally going to sell you a property at a number that makes sense for them and for you.
00:28:59.910 –> 00:29:10.260
Greg Helbeck: If you don’t set commitments, what happens is you’ll get a yes, but then they’ll coast you they’ll go ignore your docusign the Attorney won’t respond if you’re in New York, so you get these false sense of securities.
00:29:10.560 –> 00:29:17.550
Greg Helbeck: And the seller, the seller is never 100% committed to selling you the property, so what we do in our business and Brett on my team is an absolute beast at this.
00:29:17.910 –> 00:29:24.480
Greg Helbeck: He goes to the seller, and he says it sounds like you’re absolutely set at getting you know to 25 for your property Is that correct yes.
00:29:25.020 –> 00:29:35.760
Greg Helbeck: If we could do to 25 we don’t know yet we still have to run a numbers, but if we could do the 225 are you in a situation where you could either a give us a yes or no, and if it’s a no that’s fine or.
00:29:36.540 –> 00:29:44.280
Greg Helbeck: If, could you just give us a straight up yes and move forward if we could do 25 so we kind of like see where they’re at like they might want it, we might go, yes or no if they’re a little sketchy.
00:29:44.580 –> 00:29:49.710
Greg Helbeck: But if they’re like hot to trot and they’re going to sell their house, we will kind of go a little back and forth them so listen.
00:29:50.340 –> 00:29:57.600
Greg Helbeck: If you can get the to 25 if we tell you, we can pay to 25 are you committed to taking the next step with us, assuming you’re comfortable everything.
00:29:57.960 –> 00:30:02.970
Greg Helbeck: So we get them before we ever make an offer like we kind of loosely let them know that’s probably where we’re going to be at.
00:30:03.360 –> 00:30:11.250
Greg Helbeck: But before we actually finalize a number for that prospect, we get a commitment from them in advance that they’re either going to move forward or they’re going to give us a yes or no decision.
00:30:11.670 –> 00:30:16.350
Greg Helbeck: That way, at the end of the phone call where they’re ending it with a know and we’re going to follow up and be as helpful as we can.
00:30:16.710 –> 00:30:21.780
Greg Helbeck: or we’re going to end that phone call with a contract signed and that way there’s no confusion right they’re not like.
00:30:22.110 –> 00:30:27.900
Greg Helbeck: Oh well, yeah I want to sell for 25 but I got to talk to my wife I got to talk to my account I got to talk to my friends like no.
00:30:28.410 –> 00:30:35.220
Greg Helbeck: you’re going to give us a yes or no, or you’re just going to commit to giving us, yes, if you’re comfortable we try to never do the pressure thing doesn’t really work that well.
00:30:35.610 –> 00:30:44.640
Greg Helbeck: But at that end of the call the seller knows they’re gonna have to give you a commitment and usually it’s regarding the number, they want that happens to make sense for us, and it does that that makes sense i’m kind of rambling here.
00:30:45.390 –> 00:30:52.260
Greg Helbeck: But like we do that in our business and it gets us a lot of deals because it we just hold them accountable to giving us some sort of an answer, whether it’s a yes or no.
00:30:53.070 –> 00:30:59.640
Danny Johnson: yeah, no, no, I think it’s big because it makes them consider really if they’re they’re pretty much ready for it, I mean if.
00:31:00.090 –> 00:31:05.490
Danny Johnson: If that way you find out, instead of you know, making that and then having to deal with the whole.
00:31:05.820 –> 00:31:16.020
Danny Johnson: thing where it does get weird for them, because they didn’t even maybe realize they weren’t at that ready point to make a decision and you’re just helping them see that, first, so that they can get their first.
00:31:16.200 –> 00:31:19.470
Danny Johnson: exactly that, when you do they’ve already done that parks.
00:31:19.650 –> 00:31:20.460
Danny Johnson: Exactly.
00:31:20.520 –> 00:31:22.380
Greg Helbeck: really make sense, yes yeah.
00:31:22.440 –> 00:31:27.480
Greg Helbeck: that’s huge for, especially over the phone because there’s not all there’s less report called over the phone we.
00:31:27.570 –> 00:31:34.530
Greg Helbeck: operate pretty much all over the phone so when you’re doing deals over the phone you’re going to have most likely less report because you’re just.
00:31:35.010 –> 00:31:42.870
Greg Helbeck: In their living room or you know meeting them somewhere, so the commitments are that much more important over the phone so for our conversion that’s like our like secret sauce in our company.
00:31:43.200 –> 00:31:46.710
Greg Helbeck: That really works, it just straight up works and then another thing i’ll say about conversion.
00:31:47.520 –> 00:31:56.940
Greg Helbeck: And this is this has definitely been said before, but it just it just straight up works is that the whole like idea of like doing the negative reverse selling or going negative taking a step backwards.
00:31:57.240 –> 00:31:59.730
Greg Helbeck: Like when you have a seller who’s like maybe a little reluctant.
00:32:00.390 –> 00:32:08.610
Greg Helbeck: And they’re like wow I don’t know I might I only got need to sell my house or like you know what’s your offer like whatever they say something that’s not beneficial to moving sale forward.
00:32:08.910 –> 00:32:17.370
Greg Helbeck: Instead of like being like well i’ll close all cash i’ll buy, as is or whatever i’ll sound like you jump up and down until you sell your House it’s like hey Mrs prospect, it seems like.
00:32:17.610 –> 00:32:23.970
Greg Helbeck: Even if I gave you a good number of sounds like you’ve never even sell your House in the next six months, and you pull back right and then all of a sudden this the truth will come out.
00:32:24.750 –> 00:32:30.570
Greg Helbeck: I well I didn’t say that I mean I don’t know I and now all of a sudden, they kind of like come back to you and they’re like justifying.
00:32:30.930 –> 00:32:38.520
Greg Helbeck: Why they might actually want to sell their house and six months, or like hey even if you got an offer it sounds like there’s no way you’d be able to make a decision today that’s that’s the truth right they.
00:32:38.550 –> 00:32:44.310
Greg Helbeck: They they’re either going to say exactly or they’re going to say, well, if the number made sense I could probably get my husband on board.
00:32:44.610 –> 00:32:49.860
Greg Helbeck: Okay, so your husband’s definitely involved in this decision to sounds like if you’re sold this House didn’t tell your husband he’d go crazy.
00:32:50.340 –> 00:33:00.450
Greg Helbeck: Well yeah yeah I don’t do anything like you see what i’m doing and you’re kind of like taking a step back to clear the ground to get to the truth, because sales is ultimately just about getting to the truth and the truth is usually in the middle.
00:33:00.930 –> 00:33:04.200
Greg Helbeck: So I mean we do that, to like crazy like we just go.
00:33:04.230 –> 00:33:10.830
Danny Johnson: On some no amount of saying that i’m going to do this or do that, that you feel are called benefits to them is going to do that because it’s not.
00:33:11.190 –> 00:33:13.140
Danny Johnson: getting to the truth of what’s going on.
00:33:13.560 –> 00:33:20.910
Greg Helbeck: Exactly we always pushed to the truth and it’s a little cough like I the team i’ve been made a big emphasis to train my team where it’s like.
00:33:21.330 –> 00:33:25.500
Greg Helbeck: don’t be afraid to ask the uncomfortable question, like, for example when a seller is like.
00:33:26.010 –> 00:33:33.330
Greg Helbeck: hey I like your offer, but I need till Friday right like like which could be that could be a valid statement i’m not like discounting that, however.
00:33:33.750 –> 00:33:42.030
Greg Helbeck: We will go in and we will say I totally respect that totally normal like there’s a softening statement there, can I ask you a quick question, Mr seller.
00:33:43.590 –> 00:33:53.070
Greg Helbeck: Do you really are you really going to wait till Friday and if that’s the case that’s fine or you just gonna chop the offer around to another investor and try to get a higher price and if that’s what you want to do, I totally respect that there’s nothing wrong with that.
00:33:53.340 –> 00:33:58.530
Greg Helbeck: I just want to make sure we’re on the same page and if that’s what you want to do more power to you we’re not gonna put any pressure you to sell your House.
00:33:59.010 –> 00:34:00.270
Greg Helbeck: just want to make sure we’re on the same page.
00:34:00.300 –> 00:34:03.360
Greg Helbeck: that’s a good one that’s a that’s a hard thing to ask right but.
00:34:03.390 –> 00:34:03.690
Greg Helbeck: yeah.
00:34:03.930 –> 00:34:05.340
Danny Johnson: But it but it’s going to the truth.
00:34:05.370 –> 00:34:10.830
Greg Helbeck: They again it’s when you’re thinking about why they’re actually doing that and now would imagine the majority of the time is just because.
00:34:11.100 –> 00:34:13.680
Danny Johnson: they’re afraid to commit to it to make a mistake.
00:34:14.400 –> 00:34:18.630
Greg Helbeck: And when you’re when you’re dealing with the truth on the spot it’s a lot easier to clear the barriers up.
00:34:18.900 –> 00:34:26.460
Greg Helbeck: versus ending a call and then chasing them around and they’re ghosting you and then they’re telling you their cat died and then they’re telling you the House burned down it’s like.
00:34:26.760 –> 00:34:37.740
Greg Helbeck: We just go right to the truth, and we do it in a polite manner, where they really the sellers respect you when you when you do it in a way that’s like somewhat nurturing because, like if that’s what they’re going to do and you’re like mind reading them.
00:34:38.370 –> 00:34:43.050
Greg Helbeck: And they’re like oh yeah i’m going to do that I really need 350 your office 330.
00:34:43.770 –> 00:34:50.550
Greg Helbeck: I can’t leave 20 grand on the table, and now you know where you’re at, and then you can either decide to buy the House or you can decide that it might not make sense, and they should make yourself to somebody else.
00:34:50.880 –> 00:34:58.950
Greg Helbeck: So, like never be afraid of the truth when you’re on the phone with a prospect, because ultimately you’re going to find out the truth anyway right whether it’s going to be the easy way you know it’s gonna happen either way.
00:34:59.760 –> 00:35:07.620
Danny Johnson: right for sure this is a good time, I think, to i’m actually doing i’ve been doing, like the live an online workshop about this sort of thing.
00:35:07.890 –> 00:35:13.230
Danny Johnson: yeah because it’s been an interesting thing, because as looking back into my business and where we had.
00:35:13.770 –> 00:35:20.280
Danny Johnson: Bigger success from going from having to generate so many leads to just figuring out how to convert more leads into deals like what is.
00:35:20.790 –> 00:35:27.990
Danny Johnson: What is more, of the improvement to our business and our processes that will do that, and then it turns out that it’s kind of like all about.
00:35:28.650 –> 00:35:42.240
Danny Johnson: Focusing not on the deals we’re trying to do, or what we’re trying to do, but focusing on what it’s like for the people that we’re serving right we’re buying houses from people, and so what is it like for them what’s their perspective, not our perspective.
00:35:42.810 –> 00:35:45.660
Danny Johnson: Also i’m doing this workshop right now that talks about that because.
00:35:45.990 –> 00:35:47.040
Danny Johnson: there’s a sales.
00:35:48.150 –> 00:36:05.280
Danny Johnson: percentages right the sales graphs and stuff about 3% of buyers, which in the case of normal marketing and consumer you know buying 3% of buyers are ready to buy right they’re active buyers 7% intend to buy so that’s 10% total.
00:36:06.510 –> 00:36:20.610
Danny Johnson: And then you have like 30% that have the need, but they’re just not ready to act right so that’s huge because that’s the total 40% and when I look at my business in the past, when I was just generating all these leads and just trying to get these low hanging fruit motivated.
00:36:20.610 –> 00:36:24.120
Greg Helbeck: sellers yeah I was getting 3% conversion rate man, I was getting.
00:36:24.270 –> 00:36:31.920
Danny Johnson: And so it’s like what is what is their journey, the seller and our business right we’re buying from people, so the seller what is their journey.
00:36:32.520 –> 00:36:41.640
Danny Johnson: And then, how do we use that journey to make sure that we’re serving them with where they are so that we get those deals, so that we start digging into not just the three to 7%.
00:36:42.090 –> 00:36:50.280
Danny Johnson: Which is 10% but digging into more of the 30% below that which could end up getting your numbers like 20% conversion rate of.
00:36:50.640 –> 00:37:00.030
Danny Johnson: Of leads to deals so that’s what the workshop is about, and if anybody listening right now wants to register for that you can head over to forefront CRM COM.
00:37:00.690 –> 00:37:12.420
Danny Johnson: that’s Fo R E, F R amp T crm.com slash workshop and i’m doing that, right now, so go and check that out and register for your spot so all right Greg had to.
00:37:12.570 –> 00:37:13.710
plug the workshop there.
00:37:15.030 –> 00:37:20.550
Greg Helbeck: is very relevant it’s all and it’s true like I see a lot, I see a lot of investors.
00:37:20.730 –> 00:37:24.960
Greg Helbeck: Who maybe they don’t have experience or they just they don’t study sales psychology stuff like.
00:37:25.800 –> 00:37:31.050
Greg Helbeck: they’re talking about the ARV and they’re talking about how much work they got to put into the property what their margins are.
00:37:31.530 –> 00:37:41.280
Greg Helbeck: Like the seller doesn’t care, the only thing we tell the seller, though, we will say this, though the seller, we say we do need to make profit on the property and we just disclose that straight up, we want you got to be happy with the offer.
00:37:41.520 –> 00:37:50.040
Greg Helbeck: Or else you’re never going to sell, but we do need to get it at a number that does allow us to make a profit, we don’t hide that from them so like when they find out, we make a profit.
00:37:50.430 –> 00:37:56.190
Greg Helbeck: We told them in advance that’s what we’re doing and they’re not you know a lot of the sellers in my market like know what’s going on um.
00:37:56.400 –> 00:38:05.370
Danny Johnson: But we don’t think In most places nowadays, I mean it’s not a secret anymore like who these people that say they buy a house like it’s known, because it shows right everybody kind of knows what’s going on.
00:38:05.490 –> 00:38:06.900
Greg Helbeck: Like normalized now you know.
00:38:06.930 –> 00:38:07.290
00:38:08.550 –> 00:38:21.210
Danny Johnson: You know so weird in the beginning, you know back in the early 2000s where people were like what what is this, what do you guys, do you know, the thing was not we had to explain like why we were buying houses or while we were wanting to do that.
00:38:21.630 –> 00:38:29.190
Greg Helbeck: Right now it’s like Oh, are you on those TV shows it’s like i’m not but I know there’s 25 of them online right now, so you can certainly pick your.
00:38:29.250 –> 00:38:34.890
Danny Johnson: pick your choice yeah yeah for sure I actually had a TV crew following me around for a day.
00:38:36.030 –> 00:38:37.380
Danny Johnson: You know, for for trying to.
00:38:37.410 –> 00:38:38.640
Danny Johnson: put together a show thing they.
00:38:38.640 –> 00:38:48.360
Danny Johnson: wanted to do that with with my ex wife and I man that was painful I really because you had to generate drama, you had to wear the situation’s didn’t exist before, so it was just.
00:38:48.390 –> 00:38:55.770
Greg Helbeck: Looking San Antonio yeah yeah and then like spending like 30 minutes in the front of some house with people driving by.
00:38:56.160 –> 00:38:58.440
Danny Johnson: And then, like just trying to get one line nailed.
00:38:58.890 –> 00:39:02.760
Danny Johnson: Would yeah cheesy weird line, and it was it was just painful.
00:39:03.660 –> 00:39:04.170
Danny Johnson: But anyway.
00:39:04.440 –> 00:39:05.310
Greg Helbeck: frustrating for sure.
00:39:05.340 –> 00:39:11.040
Danny Johnson: yeah now this has been good stuff Greg i’m really glad that you came on and shared it I love the whole idea of focusing on.
00:39:11.520 –> 00:39:17.280
Danny Johnson: You know maximizing profit per deal because then you don’t need as many deals and that’s a lifestyle thing right it starts to.
00:39:17.790 –> 00:39:30.420
Danny Johnson: To get into lifestyle and setting up your business to be something that doesn’t require so much work so that you can focus on exactly what you do and it’s like looking high level, how can we improve what we’re doing so, we don’t have to work, some of them are.
00:39:30.900 –> 00:39:35.190
Greg Helbeck: 100% and it’s the same it’s I like how you mentioned that, because at the end of the day.
00:39:36.390 –> 00:39:39.270
Greg Helbeck: it’s if you could make double the profit on the same House.
00:39:40.530 –> 00:39:47.340
Greg Helbeck: You just you solve your problem right it’s like if you have to do, literally half the work and you’re making the same amount of money, if not more money.
00:39:47.820 –> 00:39:59.040
Greg Helbeck: And that’s where like a lot of investors, they think like they have to do 45 houses, a month, which would be great and I respect people who do that i’m not saying it’s it’s a great thing to do, and I certainly don’t do that but.
00:39:59.490 –> 00:40:09.360
Greg Helbeck: You can also do eight houses, a month and probably make the same if not maybe a little bit less than the person doing 45 and you have 45 less transaction coordination files going on, so.
00:40:09.600 –> 00:40:11.010
Greg Helbeck: I mean there’s real value in that too.
00:40:11.910 –> 00:40:20.910
Danny Johnson: yeah and I think I think the value actually even in time and effort wise is greater like if you doubled, how much wholesale profit, you were making.
00:40:21.360 –> 00:40:27.270
Danny Johnson: I really think that you’re saving you’re not having to do two deals and saving just the half of the effort.
00:40:27.600 –> 00:40:38.460
Danny Johnson: I think it’s greater I think it’s probably like 60 70% of effort you’re saving because of all the things that go into the generating of all the leads the the analysis, the calls the appointments.
00:40:39.000 –> 00:40:43.560
Danny Johnson: All that stuff adds up and if you get rid of a lot of that you know it’s just beautiful so.
00:40:43.890 –> 00:40:45.270
Greg Helbeck: Absolutely for sure.
00:40:45.570 –> 00:40:52.380
Danny Johnson: All right, Greg well if anybody listening wants to find out more about you or listen to your podcast or anything, how can they find you.
00:40:52.740 –> 00:41:01.980
Greg Helbeck: Sure, like go on social media Greg ro GR EA to underscore 37 on instagram podcast is called pave the way podcast you can look it up anywhere.
00:41:02.340 –> 00:41:16.470
Greg Helbeck: And if you want to get directly in touch with me, the best way to do that is not through instagram messenger it’s through my email so Greg at velocity house buyers calm Greg at velocity house buyers calm, if you drop me an email i’ll get back to you and we can connect.
00:41:17.610 –> 00:41:19.620
Danny Johnson: awesome Greg thanks a lot man have a good one.