Colin Spivey shares how he's increased his deal flow by improving his response rates using automated follow up.
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Show NotesColin Spivey shares how he’s increased his deal flow by improving his response rates using automated follow up.
Learn how Colin got his start 3 years before he could buy alcohol and has grown to have a $500,000 revenue goal for 2022.
In this episode, Colin shares:
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Episode TranscriptionWEBVTT
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Danny Johnson: Alright, welcome back to the flipping junkie podcast today i’ve got Collin spidey on this guy’s a rock star welcome to the show calm.
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Colin Spivey: Thank you, glad to be here.
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Danny Johnson: Alright, so I am going to read Collins bio and then we’re going to get into finding out about his journey into real estate and what he’s done in the last three years because he’s been investing.
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Danny Johnson: For about three years and has experienced with wholesaling flipping raw land and land development and his company GG I homebuyers as transition this year to primarily focusing on wholesaling.
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Danny Johnson: Which is smart with the way everything’s gone GG I homebuyers has also transitioned their marketing for mass cold calling a text blasting to very focused.
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Danny Johnson: niche outbound prospecting and pay per click ads so so we’ll be talking about that and GG I homebuyers has a total revenue goal of half a million this year, which is incredible.
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Danny Johnson: Congratulations calling Thank you.
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Colin Spivey: appreciate it.
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Danny Johnson: i’ve had a chance to talk with colin’s fiance as well because she’s been working on the team part time just helping us out with the forefront.
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Danny Johnson: CRM so it’s been really cool the other day we had an all hands meeting where where everybody in forefront, we we get on a call just to talk to each other, being that everybody’s been remote for so long.
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Danny Johnson: And I found out that calling that you and your fiance we’re we’re not even 21 yet, and I was like wow I did not know that.
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Danny Johnson: You know, it means even that much more that you’ve done what you’ve done.
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Danny Johnson: In the short amount of time that you’ve done it and being at the age and that the things that i’m sure that you’ve dealt with being at your age trying to buy houses and and actually see she said that.
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Danny Johnson: That you didn’t even have anybody in your family or anything that’s done this it’s like you’re the only person that you knew.
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Danny Johnson: getting into this to do this right.
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yeah.
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Colin Spivey: My parents didn’t love the idea of it my mom told me, it was a Ponzi scheme.
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Colin Spivey: But no, I didn’t have anybody.
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Colin Spivey: I think I had like a great and that was a real estate agent or something like that, but now I didn’t have anybody in the investing space or anything like that.
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Danny Johnson: So, how did you get into it, what what sparked your interest in this industry.
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Colin Spivey: yeah like most people rich dad poor dad.
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Colin Spivey: starting off in high school i’m pretty much probably my sophomore year I really started kind of getting into day trading type stuff.
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Colin Spivey: With the day trading, you have to be 18 to really trade with real money and all that, so I did a lot of paper trading with kind of fake money and I learned a lot, it was quite a bit of a waste of time, I mean I would be in class like sitting there with two monitors day trading and stuff.
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Colin Spivey: And it was just with fake money like it was just for fun for a while.
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Colin Spivey: Once I turned 18 I believe.
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Colin Spivey: Senior year I don’t know, maybe junior now, I think it would be senior year.
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Colin Spivey: But once I turned 18 actually junior year, I had my dad co sign, so that I could actually trade with real money, and so I invested like.
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Colin Spivey: couple hundred dollars and started day trading and mess around with it for a while junior year or so it started kind of an eBay business where I went and bought clothes from goodwill and took pictures and resold them on eBay and everything.
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Colin Spivey: So did a lot of kind of handyman work landscaping work through high school and everything and so through all that I was able to save up about $20,000.
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Colin Spivey: Throughout high school a super frugal didn’t like to spend money Kimberly my fiance always tells a story about I don’t remember, but apparently on one of our first dates.
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Colin Spivey: She was ordering and said, I have a sweet tea, and I said no she’ll have a water, so if that tells you anything about how frugal I was like I did not like to eat out, I did not like to spend money really at all.
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Colin Spivey: So I saved about $20,000 through high school through all that other stuff I believe it was towards the end of junior year.
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Colin Spivey: That I read rich dad poor dad and once I read rich dad poor dad I kind of made me start thinking, a lot more into real estate rather than trading stocks and little eBay business side hustle type thing so slowly kind of transitioned out of that started really diving into real estate.
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Colin Spivey: And was planning on getting my license become an agent, I wanted to buy Rentals and that was kind of my plan at that point.
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Colin Spivey: started getting big into kind of the bigger pockets stuff.
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Colin Spivey: Everything like that, and then kind of into my senior year once I had turned 18 and could actually legally sign a contract I started really focusing on trying to find a property to burn so by rehab ranch.
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Colin Spivey: By rehab rent repeat or whatever it ends up being but there’s bar with a bunch of ours, but um.
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Colin Spivey: So I secured private lending from my great grandfather I had talked him into pulling some money out of the stock market and investing it with me to buy a property rehab it rent it out and then refinance it.
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Colin Spivey: and repeat.
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Colin Spivey: And so there’s about six month period or so, where I was looking at properties, making offers on properties.
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Colin Spivey: It was mainly on market type stuff I didn’t really know much about off market or anything like that I was looking on the mls i’d be in class all day scan of the mls waiting for something new to pop up.
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Colin Spivey: be running numbers in class using the bigger pockets calculators trying to figure out what made sense be going and looking at properties after class or after school once I got out of school.
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Colin Spivey: And I met a couple offer a couple of different offers a lot of them got rejected, obviously.
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Colin Spivey: Being on mls I mean this was.
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Colin Spivey: Early 2020 I guess it was pre coven.
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Colin Spivey: yeah it was in 20 towards the end of 2019 really.
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Colin Spivey: Pretty cove it’s I mean the market wasn’t as hot, as it has been in.
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Colin Spivey: But it’s still super hot, so making offers on the mls and everything like that a lot of them got rejected, I did have.
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Colin Spivey: Two offers get accepted that ended up pulling out of because one after they got accepted I had like three day inspection period or something on it.
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Colin Spivey: And so, got an inspector out there, we went through everything and the Foundation was basically crumbling under the House, and so we were I was like yeah I can’t do this price on this one anymore, and then there was another one.
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Colin Spivey: That something ended up falling through with the seller and it a decided not to sell and they had some contingency and there’s something weird I didn’t understand it at that point.
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Colin Spivey: Something weird the agent that’s kind of warm offer got accepted, because nobody else was really making offers on it.
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Colin Spivey: So both those kind of fell through and then my great grandfather I think kind of started to get cold feet on it, he somebody he had a conversation with somebody and they’re like oh you’re going to give this 18 year old 150 $200,000 or whatever it was at that point.
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Colin Spivey: And so, he got kind of cold feet on it so then kind of my private money dried up started looking into a whole bunch of different hard money places and stuff and talking to them, they were very skeptical about lending to an 18 year old they wanted my dad to co sign on everything and.
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Colin Spivey: My dad was not a fan of that it was like I don’t mind co signing on something that you’re day trading with $100 but i’m not cosine and on a six month rehab loan so.
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Colin Spivey: I.
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Colin Spivey: couldn’t really get funding um.
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Colin Spivey: I probably could have dove into a deeper and found a hard money lender willing to work with me, but with what I know now but at that point, I talked to four or five different hard money lenders and they were all saying no so.
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Colin Spivey: I kind of started to decided to transition more into wholesaling.
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Colin Spivey: That was over the summer, basically, right after coven hit my senior year going into my freshman year of college.
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Colin Spivey: I did not want to go to college, I wanted to do real estate, but my parents were very pushy about going to college.
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Colin Spivey: I graduated as valedictorian in high school, so I had kind of full rides quite a few places, so they really, really were pushy.
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Colin Spivey: So basically I ended up making the deal followed Kimberly my girlfriend at the time fiance now to in tsu um and decided to go to college in return for I would go to college for at least a year, my dad co signed a loan for me to house.
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Colin Spivey: So I bought a townhome about 15 minutes away from mts you.
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Colin Spivey: And it was a three bed three bed two and a half bath.
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Colin Spivey: I lived in one room and rented out the other two rooms to two roommates that were in college and they paid my mortgage pays my mortgage entirety and all I had to pay was a third of the utilities each month.
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Colin Spivey: So I started house hacking within school and trying to start a wholesaling business.
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Colin Spivey: started getting into some more off market type marketing at that point, I mean the thing you usually hear when going into off market marketing is hey send direct mail to absentee owners so that’s what I got into started sending out some direct mail the absentee owners.
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Colin Spivey: I am, by nature, not an extrovert at all i’m not a sales guy by nature i’m much more of a.
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Colin Spivey: introvert want to be at a computer figuring something out analytical type stuff and so it’s funny on my first I guess first appointment I got a phone call off one of my postcards and set up an appointment with this guy and drove over to the House, and this was, I mean.
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Colin Spivey: Probably four or five months in a coven so it was still kind of the oh God like what what’s going on here.
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Colin Spivey: We didn’t really smash the curve, or whatever it was that we were trying to do in the first month of code and it’s still going like crazy what’s going on and so like I remember pulling up and having to put on a mask and the seller had on a basket and walked up, and it was a older house.
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Colin Spivey: fairly well kept not in bad shape at all the yard was pretty well taken care of and everything and started talking to this older guy on his porch.
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Colin Spivey: found out his wife had recently passed away, he was considering selling and downsizing or dude pulling out some kind of a reverse mortgage on the House and.
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Colin Spivey: I kind of got nervous at that point and basically like told him like hey you’ve got a super nice House here.
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Colin Spivey: You probably don’t need to sell the investor I don’t think you should do a reverse mortgage either here’s Why do about reverse mortgages.
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Colin Spivey: And I was like if you’re going to sell you need to probably list with a real estate agent, so I didn’t even like.
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Colin Spivey: We still now like if we think somebody look for somebody to list with the agents better than selling to investor, we still tell them that now.
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Colin Spivey: But I didn’t even get into figuring out like oh your wife passed away and go more into motivation and figuring out okay well, does he actually need to sell to an investor or not.
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Colin Spivey: Because most of the time it’s very surface level on that first couple minutes, the appointment, so I was there, maybe, maybe 10 minutes talking to this guy and didn’t even make it inside the House we’re on the front porch the whole.
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Colin Spivey: lot, so I was not was not what you’re supposed to do whatsoever.
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Colin Spivey: And so from there, I had sent out, I think, like direct mail for like two months or something like that.
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Colin Spivey: direct mail is expensive it started eating into my money quite a bit and I had I went with an fha loan on.
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Colin Spivey: Our townhouse everything, so I had money invested into the townhouse and then I was also trying to start this business, while also trying to live off those savings, while in college.
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Colin Spivey: So starting up a lot of money with direct mail and I was like oh God like I can’t keep spending all this money.
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Colin Spivey: So, then, I decided to get into cold calling.
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Colin Spivey: I think i’d like bought a course or something on cold calling and started getting into cold calling and decided like hey i’m not going to hire it out or anything i’m going to cold call myself figure out how to do it then i’ll heart out.
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Colin Spivey: Which looking back was absolute terrible decision because, even more so, being uncomfortable talking in person, sometimes as more of an introvert.
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Colin Spivey: I hate being on the phone I don’t know what it is about being on the phone.
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Colin Spivey: But I hate even having to like call in or take out or like call customer support on.
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Danny Johnson: Saturday that delayed me getting into real estate investing for about three years because.
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Danny Johnson: My introduction to it was.
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Danny Johnson: This this box of tapes and I forget like vhs.
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Danny Johnson: tapes like a vcr and it was from I think it was carlton sheets or somebody I don’t know if you know you’re so young at.
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Danny Johnson: uc Berkeley or something but but that guy was all about cold calling, and he called people up and then work all these different strategies he’s like.
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Danny Johnson: If they don’t fall into this, you could do this, you could do this creative thing, and all this kind of stuff and I was just like oh my God I don’t have anything to do with any of this.
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Danny Johnson: yeah anyway yeah I get it.
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Colin Spivey: yeah so it was terrible idea I hated cold calling I hate calling a warm call like I hate having to call lead or anything like I just hate being on the phone in general, so I don’t know why I thought cold calling was going to be a good strategy for me.
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Colin Spivey: But, really, really for the next.
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Colin Spivey: Probably three months.
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Colin Spivey: Maybe a little bit longer than that was cold calling gone off, I mean it would almost like made me sick to my stomach before I picked up the call or picked up the dialer to start making calls.
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Colin Spivey: And so.
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Colin Spivey: I cold call it on and off got a couple of leads everything like that nothing really came from it.
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Colin Spivey: right around the time that I made the transition from direct mail to cold calling maybe right after that I attended flip hacking live.
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Colin Spivey: It was their virtual events that year, and I was able to attend and it was like over my birthday and everything my parents were like hey like let’s go out to eat, for your birthday is like no i’m on this event I can’t do anything today and watch the event learned a lot there.
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Colin Spivey: and ended up joining their runway group.
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Colin Spivey: Which wasn’t a super smart choice because I was already running short on money and their group is fairly expensive, I think it.
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Colin Spivey: i’m not sure what it is now, but I think at that time it was like $15,000 or something a year, and it was like 1500 a month, if you wanted to pay on a payment plan, and so I got on the payment plan and then.
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Colin Spivey: was like Well, I can make I can make my first deal the next three months or so, with all their training and stuff and started getting into everything and it was still just cold calling now it’s not only marketing, and so I mean my goal was to cold call for an hour every day.
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Colin Spivey: It was more like I might get one or two days in a week that I actually cold call for an hour a day so wasn’t doing kind of the work I needed to be doing.
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Colin Spivey: And it so things just weren’t happening so I money started getting really tired and I was like oh God like this is getting bad like i’m gonna have to start putting some stuff on a credit card or something because, like i’m in over my head at this point.
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Colin Spivey: So from there.
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Colin Spivey: I was approach.
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Colin Spivey: guess at the end of January of 2021 I was actually at the runway event in nashville.
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Colin Spivey: In January, and a guy I had met at a local Ria text me and asked if I wanted to grab lunch and talk some things over about business.
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Colin Spivey: And so I was like yeah i’m sure he’d been flipping for two or three years, at that point, I believe the year before, like in 2020 I think he did a couple flips like I don’t remember exactly I think was like five or six flips so he had a lot more going on than I did.
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Colin Spivey: So, like the following Monday I went and had lunch with him and his wife and they’re like hey we’re trying to grow, we don’t want to take on like extra overhead of employees and everything.
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Colin Spivey: We really like you to kind of come into business with us and kind of handle some of the cell stuff and everything like that so.
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Colin Spivey: For me, I basically told him like hey I don’t ever want to actually work for somebody like i’ve worked for somebody before i’d much rather work for myself.
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Colin Spivey: But i’ll come into the business with kind of the understanding that hey we’ll work together for a year and then at the end of the year we’re going to decide hey we want to go into a legitimate partnership here, or we are just going to branch back off and i’ll go back online.
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Colin Spivey: So we agreed upon that went basically into their business and my.
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Colin Spivey: title was acquisitions rip so I went in and kind of as acquisitions I mentioned earlier i’m not a sales guy but I went in as acquisitions.
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Colin Spivey: And pretty much was kind of doing the same thing that I had already been doing was making cold calls.
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Colin Spivey: I had a little bit more accountability of saying like hey what the end of the week to go to my boss partner and basically tell them like hey I made this many calls or I got this many leads or whatever it may be, so I had a little bit more accountability there, but I still wasn’t.
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Colin Spivey: Getting done the entirety of what I needed to get done to really produce results, because even at that point, I mean cold calling was super saturated everybody’s getting cold calls and stuff like that so.
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Colin Spivey: We were probably about 30 days in and basically he sat me down, it was like hey you’re not getting done what you need to get done.
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Colin Spivey: You have another 30 days if we don’t have any like more progress anything under contract or anything like that we’re gonna have to part ways.
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Colin Spivey: And so, at this point i’m like oh God like i’m hurting for money i’m working what I think is enough to do like good deals and now i’m like basically on the verge of being fire so.
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Colin Spivey: I kicked it into the next year.
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Colin Spivey: And really started hammering convinced him to let me start text blasting as well.
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Colin Spivey: But those were the days, where you could send out a whole bunch of texts, I mean we were I was sending out like 3000 texts, a day or something to the list and handling all the responses still trying to make cold calls and.
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Colin Spivey: So from text blasting we ended up getting a property under contract and everything like that.
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Colin Spivey: And it was like a week and a half later so like I really kicked it into extra gear.
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Colin Spivey: But we got a property under contract so kind of safe my position there and then from there throughout the next couple months I really we ended up bringing on a cold caller to cold call full time I kind of manage her and train her and everything ran all of our texts blasting.
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Colin Spivey: I started, creating a lot more I started building out marketing sources, basically, so I convinced him hey, we need to hire cold caller have her do a full time.
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Colin Spivey: i’ll manage all of our leads I was running all over acquisitions going on appointments everything like that I was running all our text blessing sending out 3000 texts, a day responded everybody handling phone calls from leads and everything like that.
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Colin Spivey: And slowly kind of transitioned into handling a lot of our day to day operations I kind of manage everything I ran all of our acquisitions.
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Colin Spivey: manage all of our leads and everything like that and manage all of our dispositions we wholesale some we flipped song we started wholesaling towards the end of the year we started wholesaling more to big buyers and stuff that are bought in the area.
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Colin Spivey: And so, he kind of transition more into raising capital, we need a more capital, we started doing quite a few deals, so he started raising capital and he was managing all of our rehabs.
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Colin Spivey: So things are going pretty well for a while.
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Colin Spivey: And kinda I think we did it was basically February through.
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Colin Spivey: The end of October that we were working together um I think we did right at 20 deals, maybe a little bit over total of like 850,000 in revenue, so we did really well together, but we went back to flip back and live in October and we kind of started having that discussion of hey.
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Colin Spivey: At the.
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Colin Spivey: end of the year we said we’re going to either go into a partnership or we’re going to part ways again.
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Colin Spivey: and trying to figure out what we wanted to do here.
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Colin Spivey: We ultimately decided we kind of had different long term visions, we think we have a little bit different core values we didn’t think it was going to be the greatest partnership.
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Colin Spivey: We had made it work, and it was working but long term we just kind of decided.
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Colin Spivey: hey we can work together on deals in the future, but we don’t we don’t think it’s best to work together in the business as legal business partners.
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Colin Spivey: So we basically decided that a flip back and live.
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Colin Spivey: After full attacking live there’s kind of like a two week period where I kind of.
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Colin Spivey: showed him the ropes on hey here’s how i’ve been running these operations everything kind of transitioned everything out transition myself out of the business.
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Colin Spivey: kind of beginning mid November I took a little bit of a break or just kind of like chilling out because I was super burnout at that point everything and kind of I guess in November beginning of December, I really started back up and GG homebuyers and born.
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Colin Spivey: So, not the best time to really be starting with being in December that’s like the slowest month of the year, but.
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Colin Spivey: started back in December and started trying to build everything back up and.
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Colin Spivey: started using a couple different CRM.
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Colin Spivey: While i’ve been working with my former boss partner.
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Colin Spivey: We had gone through a couple of different CRM I think we had used ra simply.
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Colin Spivey: With us another one I don’t remember the name of and then i’d heard about forefront, so we started using forefront, I really liked the interface, and the follow up sequences everything like that, with forefront.
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Colin Spivey: And so, when we split off I started, I was like well i’ll try a couple different CRM first and see what else is out there.
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Colin Spivey: and try it out two or three different CRM.
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Colin Spivey: Over the next two or three months, and then found myself back to use it forefront, because.
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Colin Spivey: couldn’t get anything else to work, the way I wanted it to.
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Colin Spivey: So we still use forefront now, but we slowly built it back up this year we did we’ve done two deals this month, so far.
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Colin Spivey: And i’m trying to hire for acquisitions right now.
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Colin Spivey: i’ve got a.
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Colin Spivey: I heard technical title is junior acquisitions basically getting the year I started trying to hire for acquisitions, because I knew that was kind of my week my weak link my weak spot.
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Colin Spivey: made a couple of different hires this year, none of them have worked out great whether it’s a core value misfit or whether it’s.
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Colin Spivey: they’re not a super good salesperson or whatever it ended up being they just didn’t work out.
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Colin Spivey: So I decided to kind of try out a junior senior acquisitions dynamic where i’m kind of the senior acquisitions I run appointments and everything.
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Colin Spivey: junior acquisitions come in earn their stripes through prospecting and stuff like that are being trained on how to run senior acquisition appointments and then they get promoted into that senior acquisitions, which would be kind of a normal acquisitions REP.
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Colin Spivey: And so I may, I went ahead and made three hires all at once, for junior acquisitions i’m two of them have kind of weed themselves out with not having time available.
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Colin Spivey: One thing I still don’t understand is you can tell somebody hey, this is a full time job you’re going to be working 40 hours a week, but all they hear is flexible schedule and think they only have to work 10 or 15 hours a week.
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Colin Spivey: But, so the other to kind of weed themselves out and our my current kind of junior acquisition she’s still with us she’s great.
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Colin Spivey: But I think she will be better suited more in the dispositions side of things.
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Colin Spivey: So i’m slowly kind of transitioning her to run more of our dispositions type stuff.
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Colin Spivey: and trying to start rehiring for acquisitions.
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Colin Spivey: So I think that’s kind of a long summary of.
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Colin Spivey: My journey that’s good yeah.
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Danny Johnson: How much.
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Danny Johnson: You know how much you had to overcome to to get to where you are, and I think that’s the part that’s missing from most people’s explanations of you know, getting into the business, and so I really you know appreciate your you’re getting into like you know you’re.
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Danny Johnson: You know the private money being there, and all of a sudden it wasn’t.
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Danny Johnson: You know, and then yeah it’s like all these different points where you could have given up and said I can’t do this because I don’t have what these other people had when they got started.
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Danny Johnson: You know, like i’m the victim here’s the reason why, and then feel Okay, with just given up on it and you wanted it bad enough and.
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Danny Johnson: Then you know you’re talking about how you at that point had to kick it into high gear and it’s like yeah that’s.
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Danny Johnson: What it takes and and I think that is the heart, one of the hardest parts for at least, it was for me, and I know a lot of other real estate investors.
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Danny Johnson: You know that whole when you have to hold yourself accountable that can be sometimes the most difficult thing to do, because you can slip into these patterns of you know just doing work that you enjoy, but then at the end of the day, what are you doing, I mean you’re not.
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Danny Johnson: doing business in the way that it should be operated so.
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Danny Johnson: yeah I applaud you at such a young age, you know doing all of that setting things up making some mistakes.
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Danny Johnson: and finding out what you like and don’t like and then you know, especially getting into hiring.
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Danny Johnson: You know, and I imagine, some of the group, you know that you joined helping with seeing the benefit of that and helping you to do that because that’s definitely something I wish i’d done much sooner, as well as direct to seller marketing.
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Danny Johnson: Something I waited a little bit too long to do to which.
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Danny Johnson: You know i’d never go back to I mean there’s there’s some ways to do mls but.
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Danny Johnson: yeah if you want to do volume that’s pretty tricky.
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Colin Spivey: yeah exactly.
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Danny Johnson: So yeah I mean really, really great stuff I did want to talk a little bit because yeah you’ve been I remember whenever you you joined, as you know, for your own company there on for forefront, because I think I didn’t handle the onboarding call.
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Danny Johnson: I don’t think it was me, I think it was me.
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But.
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Danny Johnson: yeah it was interesting because you had checked out the other systems What was it that made you say you know what i’m gonna stick with for for i’m going to use for for what was the thing that that led you to that.
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Colin Spivey: yeah so um I guess the biggest factor was just simplicity very straightforward to use.
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Colin Spivey: i’m trying to remember what the other one was there’s one I can’t remember the name of it, but it was came highly recommended a lot of people use it a lot of people like it.
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Colin Spivey: It just was a little bit complicated I guess.
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Colin Spivey: I kind of figured out how to use it and everything, but everything was kind of two or three clicks deep like if you wanted to get something you had to like click here then click here, and then you have it, or click here click here click here you have it type thing, and so it just.
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Colin Spivey: did not.
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Colin Spivey: The functionality of it, the simplicity of it, it just did not work for what I was looking for I guess.
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Colin Spivey: I use RDS if to manage a lot of my data and everything like that, and they kind of have they promote kind of the hey you can use it as a CRM as well, so I kind of transition to try to use them as a CRM.
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Colin Spivey: There I did not, I guess, understand how to use it as a CRM I kind of figured out how to use it for data management, but I didn’t really get how to use it for CRM.
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Colin Spivey: So I kind of try to put together like how I thought I was supposed to use it for a CRM and it just did not work very well, I was a.
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Colin Spivey: Transition every time where I just let go of another acquisitions and brought in a new acquisitions and he was managing our leads and trying to do it in our eos it and he was.
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Colin Spivey: A little bit technically challenged wasn’t great with technology and so that made things even more difficult and then he only had an iPad he didn’t have a laptop so what was on my screen was different formatting on his screen and.
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Colin Spivey: So there was lots of different kinds of complications with that and so Finally I just was like okay i’m just going to move back to what I know works and just go back to forefront, and then came back forefront and haven’t haven’t regretted it since.
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Colin Spivey: So mainly mainly the simplicity and functionality of it everything’s kind of one one or two clicks away of where you need to get.
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Colin Spivey: And then the follow up sequences really like.
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Colin Spivey: How easy it is to kind of build out the automation and the automated follow up sequences and everything like that and forefront.
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Colin Spivey: Because I mean you can do automation with other stuff but, most of them, you have to do it through zapier and figuring out like okay Well now, I got to integrate with twilio to have this automatic takes text and everything like that so mainly just the simplicity of it overall.
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Colin Spivey: You can somebody that’s not super technically bursts can figure it out pretty easily and build out automation and everything like that they need to fairly easily so.
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Danny Johnson: How are you consistent in using the follow up, I mean you guys haven’t built into your process where if offers not accepted, or what it, you know it’s automatically going into this sequence or this other sequence.
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Colin Spivey: yeah so i’m Kimberly my fiance she kind of does all of our lead management lead intake type stuff so we.
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Colin Spivey: Basically, we keep everything as manual follow up unless it falls into these buckets so we have a cold lead follow up sequence, which is just hey basically or, let me start, we have freezing cold lead, which is basically.
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Colin Spivey: hey I don’t want.
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Colin Spivey: I don’t want to sell for 12 plus months.
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Colin Spivey: We can get into kind of where those leads are coming from with the mass marketing and kind of why I made that transition here in a minute, but.
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Colin Spivey: With mass cold calling mass sex blessing, we were getting a lot of freezing cold and cold leads that were like hey I don’t want to sell from the next year, but I probably want to sell next year or hey I don’t want to sell for the next six months, so we had freezing cold.
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Colin Spivey: drip campaign follow up sequence basically that was just like I think I set it up for like a two year sequence of like.
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Colin Spivey: They just get a text like.
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Colin Spivey: Once every month and a half or something or maybe every two or three months, or I don’t remember how I set it up, but they got a text every so.
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Danny Johnson: also put two years.
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Danny Johnson: You have all that happening, and you don’t even have to remember the exact.
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Danny Johnson: Details it’s just the process is set up, and now just runs.
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Exactly.
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Colin Spivey: So we had the freezing cold follow up over two years, and so, if she if we had a lead come through she talked to them, and it was like yeah it’s freezing cold.
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Colin Spivey: We just drop it in the freezing cold sequence, and it just hits them until either.
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Colin Spivey: They have fall off and come back into hey analysis needed where we basically say hey they’re dead or we’re going to contact them manually again.
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Colin Spivey: or until they answer one of our texts or emails or whatever it may be, and I said hey yeah I think i’m ready to sell or whatever happened and.
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Colin Spivey: Then we kind of had the same thing set up for cold leads so somebody that doesn’t want to sell for at least six months.
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Colin Spivey: So it’s less than 12 months, but at least they don’t want to sell for at least six months because that’s very common you talk somebody hey coldly I don’t want to sell for the next six months, so.
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Colin Spivey: We I think it’s like a year long follow up for cold leads I think it’s like a monthly text.
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Colin Spivey: So basically just messaged him once a month just just like hey just wanted to make sure we stay top of mind i’m sure you’re not ready to sell yet type stuff.
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Colin Spivey: And then we move into we kind of had a.
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Colin Spivey: Warm lead go sequence, so any kind of warm or hot lead we kept we keep in manual follow up and Kimberly manually follows follows up with them, just because those are our kind of most prized possession those warm hot leads, we want to make sure.
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Colin Spivey: we’re making sense completely with everything that we’re saying, because usually those people are responsive, whereas the cold leads freezing cold leads, more than half the time they don’t respond to your text or email or phone call.
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Colin Spivey: So we set up we basically had freezing cold cold set up and then warm and hot were kept in manual follow for Kimberly to follow up with.
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Colin Spivey: And then we ran into kind of hey well some of these warm and hot leads ghost us they stop replying we can’t figure out why they start replying.
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Colin Spivey: And we’re having a follow up with them like once a day or if it’s a hot lead, I mean if it’s super hot lead, we might be following up with them twice a day for a week or whatever it may be, and so, then I was like well.
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Colin Spivey: let’s build out a follow up sequence for warm and hot leads that have ghosted us, so we have a warm lead ghosts and a hot lead go sequence set up now to.
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Colin Spivey: and basically with warm lead goes that thing it’s like.
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Colin Spivey: One one tech or I think it’s like three or four texts, a week for a month, and then it automatically drops them into a cola drip campaign.
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Colin Spivey: So basically like it, the cold drip starts off with hey i’m sure you’re not interested in selling right now, blah blah blah blah.
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Colin Spivey: And so it automatically puts them in there after like a month, but they get three or four text and a couple phone calls for a month, basically, and if it goes to those for over a month and it’s basically they get moved into cold leads.
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Danny Johnson: chain, so you chain them together us yeah.
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Danny Johnson: So on and then whenever that one ends it automatically starts them into the colder one.
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Colin Spivey: yeah so we’ve.
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Colin Spivey: we’ve actually changed them all together now, so it goes if they if they start as a hot lead and they go to us it’ll go into a hotly go sequence, which is like.
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Colin Spivey: two texts, a day, plus a phone call for a week so like three three contacts, a day for a week and then it goes into like one texts, a day and a couple more phone calls for the next three weeks so it’s like a full month of just hammering them.
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Colin Spivey: We have not had anybody that has ghosted us that we’ve put into a hot lead continue to go since we’ve gotten in contact with all of them.
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Colin Spivey: At some point so.
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Colin Spivey: Most of them were around that like 20 day mark when it’s like Okay, these people are not giving up and so.
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Danny Johnson: I know manual people are like.
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Colin Spivey: yeah we would I mean manual follow up all I.
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Colin Spivey: Know you’d have to be a special person to have the wherewithal to really follow up with these people every single day multiple times a day for 20 days um but.
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Colin Spivey: So if somebody starts as a hot lead they go to us and they don’t respond to us the entire drip sequence follow up sequence that whole hot.
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Colin Spivey: Lead ghosted sequence, then they automatically funnel into the warm lead sequence so then it’s like two or three I think it’s I think it’s three or four text every week for a month and a couple phone calls.
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Colin Spivey: And so they if they went through that and still didn’t talk to us then they’re getting moved into the cold.
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Colin Spivey: Lead follow up sequence, which is in a year long and so then they’re getting hit for a year and then, if they don’t they still don’t talk to us or way they talk to us and we just drop them right back into it.
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Colin Spivey: Then they funnel into the freezing cold so it’s basically like in total, I think it’s like three years in two months of.
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Colin Spivey: hitting somebody.
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Colin Spivey: If they started as a hot lead.
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Colin Spivey: funnel all the way through.
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Colin Spivey: So yeah that’s kind of how we haven’t set up.
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Danny Johnson: How many leads so like a rough estimate per month, are you starting you know lately to be putting into the system.
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Colin Spivey: yeah so um I guess that’s a kind of a good segue into kind of talking about why we change our marketing and how that’s affected us now ah.
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Colin Spivey: So last year with my previous partner slash boss um we were doing a lot of the bulk cold calling dialer being on a dialer cold calling and then mass text blessing that’s kind of where all of our leads all of our deals came from.
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Colin Spivey: Towards the end of the year that kind of started to drive and kind of into this year it’s kind of.
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Colin Spivey: dried up even more.
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Colin Spivey: I think.
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Colin Spivey: I think we did it.
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Colin Spivey: Basically, all the way through until the beginning of this month, or the end of last month, so almost a full six months this year and we only pulled like.
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Colin Spivey: One deal off a text blasting and then like I think we, we had a contract on one off a cold calling but it fell through that was a whole crazy story about a seller being impersonated by somebody overseas but.
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Colin Spivey: yeah I.
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Colin Spivey: For just a second, but basically we got Ahold of this guy he was older guy.
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Colin Spivey: was bombed self and everything we went met with them in person.
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Colin Spivey: made them all for went back went back and forth negotiated over like two days and and finally get the property under contract filed a affidavit memorandum or a thing a lot of people call it in a lie.
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Colin Spivey: On the property and everything.
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Colin Spivey: Our contract was contingent upon him being or buy a new house.
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Colin Spivey: I had Kimberly get licensed at the beginning of this year, so she can kind of we can convert some of those retail type stuff.
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Colin Spivey: So she was working with him to find a new house everything was going smoothly for like a month they’ve been making some offers and everything he was a little bit difficult, he was probably in his 70s, or 80s, he didn’t use the Internet, he only had a landline.
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Colin Spivey: didn’t have a GPS Kimberly had to go pick him up for all the showings and stuff.
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Colin Spivey: So it made things a little bit difficult, but we were working with this guy and then all of a sudden this about a month and a half in this one week I started getting all these phone calls about my after they’ve memorandum hey.
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Colin Spivey: We have this property under contract to I saw you had a memorandum followed why, why do you have a memorandum fall and like it was like a couple different investors kept calling me about it.
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Colin Spivey: and
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Colin Spivey: so long.
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Colin Spivey: long story short, we couldn’t figure out what was going on for like a week, the following week got finally.
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Colin Spivey: figured it out one of the investors that also had a contract on it basically was like hey i’ve got.
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Colin Spivey: The seller on the phone and I want to tie you into the call because he’s not making sense and so he had already told me he thought the seller had multiple personality disorder, something I was like i’ve spent a lot of time with the seller I don’t think he does.
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Colin Spivey: But, so I got tired of the phone call and I immediately could tell it was not back seller.
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Colin Spivey: And so, basically this guy from overseas that called the seller like at the beginning of February or something told him he won the lottery got all of his information and had scammed him for almost like half a million dollars.
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Colin Spivey: Between retirement savings.
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Colin Spivey: and credit cards.
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Colin Spivey: And so I ended up talking to sellers daughter and got all this information from her.
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Colin Spivey: But so then he kind of had wiped out the seller, on this side of things, so the last thing left was the House so he was like okay well.
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Colin Spivey: i’m just going to try to sell the House now and, hopefully, how sales money comes to the bank account, I can take that money too.
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Colin Spivey: So he started going filling out everybody’s PPC ads trying to get people to get contracts, and so, then he would call and talk with the investor and person, a seller and sign contracts via email to sell the House.
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Colin Spivey: So it there ended up being like detectives and attorneys and everybody got.
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Danny Johnson: involved in.
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Colin Spivey: This whole big ordeal, so we just dropped our contract on it.
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Colin Spivey: But.
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Colin Spivey: It was it was kind of crazy but.
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Colin Spivey: Now, I think that was the only contract, we got off like the mass cold calling so.
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Colin Spivey: We were getting quite a few leads with the text blasting mass cold calling everything they’re all cold and freezing cold leads at retail leads they they weren’t good leads.
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Colin Spivey: And so.
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Colin Spivey: We I mean we were probably we’re doing like five to 10 leads a week, while we’re doing the math stuff, and so I mean it was like.
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Colin Spivey: 20 to 40 leads a month, probably through the mass text blast mass cold calling stuff.
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Colin Spivey: And so from there, we have kind of transition into doing very focused outbound marketing, so we kind of try to focus more on motivation and niche down on our outbound marketing.
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Colin Spivey: And then we go through a sequence of cold calls and texts and everything like that, whether it’s foreclosures tax delinquent it’s probate stuff like that.
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Colin Spivey: Where it’s pretty high motivation there’s a pretty good chance of them selling or selling to an investor.
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Danny Johnson: What so using for the cold calling.
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Colin Spivey: yeah so we use dial pad right now, just because it’s we can click to call, so we can take a spreadsheet or or eos it or whatever we want to use and.
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Colin Spivey: Basically, just go through and click each number, we can call it from there.
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Colin Spivey: And then we can text them as well right there straight from there, because we don’t do because it’s like we’re actually hand doing it we don’t do enough volume to get marked as spam or anything like that.
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Colin Spivey: Because that was a big issue we had with the mask off, I mean itself was constantly getting marked as spam and then I had, I think I had called caller ID reputation and I can monitor it and register my numbers, with the carriers everything and they’re still getting marked as spam.
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Colin Spivey: I had to like install an auto clicker on text blasting to regulate how many texts are being sent out so it’d be like one text gets sent out and then weights 15 seconds since another text and make new.
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Danny Johnson: templates for tech manually with call tools now you don’t have.
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Colin Spivey: You don’t have those problems yeah so we just we use dial pad now but.
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Danny Johnson: i’m sorry I don’t.
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Colin Spivey: yeah we use dial pad now but yeah we don’t have any of those problems getting blocked or anything because we don’t we don’t do enough Volume I think it’s like.
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Colin Spivey: 150 calls a day or something per number is where the like baseline is for carriers to start to notice you and so.
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Colin Spivey: i’d have to have a spreadsheet I can’t tell you exactly how many we do, I felt my head with a part number but it’s less than 150 so it’s not.
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Colin Spivey: we’re not having any trouble with that.
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Danny Johnson: When those prospects become a lead, how are you getting them into the forefront like what is that transition.
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Colin Spivey: yeah so right now it’s just they send over the information and Kimberly she inputs it it’s been on my to do list for like two and a half weeks to build out a web form.
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Danny Johnson: Now, but I still haven’t got that done.
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Colin Spivey: And so i’m going to build out a web form, where they can just put in the information there and then it automatically gets uploaded into forefront.
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Danny Johnson: But writing integrations to that you can do through.
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Danny Johnson: Through zapier he might be able to have some way to have dial pad send whatever information it has.
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Danny Johnson: yeah web hook.
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Danny Johnson: On forefront.
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Colin Spivey: yeah uh I might be able to do that, the only caveat there is that there’s not much information really actually within dial pad usually usually the information we’re calling from is out of our ios If so, I might be able to do something from our ios if and if we’re friends.
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Colin Spivey: um but I know I know our yes, it does not have the option to use them as a trigger in zapier they’re only a result or whatever it ends up being called and zapier so they can’t trigger anything they can only have actions that happen in our process so they’re.
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Colin Spivey: Interesting yeah so they only work with zapier on the back.
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Colin Spivey: End of it as being an action.
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Colin Spivey: But so yeah right now, can they just send the information over to Kimberly and she uploads them in the forefront, and then calls the lead to get some more information and neither set an appointment or put them where they need to go.
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Colin Spivey: And I need to build out a web form, I just haven’t done it yet.
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Colin Spivey: But yeah so we’re mainly focusing on.
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Colin Spivey: That very niche outbound prospecting right now we’ve got some PPC ads running and everything like that.
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Colin Spivey: we’re building up seo continuously and i’m about to start, some more direct mail again.
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Colin Spivey: i’ve been getting out pretty deep into the Dan Kennedy stuff.
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Colin Spivey: Lately, with direct marketing and stuff like that so i’m about to start, some direct mail again probably probably more niche direct mail, for the time being, with like.
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Colin Spivey: Actual sales letters and then may get back into kind of maths postcard type stuff but we’ll see what kind of happens there, but I mean right now we’re probably.
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Colin Spivey: it’s probably closer like 10 leads a month, but there are way better leads.
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Colin Spivey: So it’s kind of that quantity versus quality type thing.
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Colin Spivey: we’re converting more leads now than we were everything was kind of really slow at the beginning of the year and.
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Colin Spivey: we’re getting leads they’re just not super motivated.
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Colin Spivey: So.
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Colin Spivey: yeah that’s kinda kind of where we’re at with marketing and so.
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Danny Johnson: that’s cool yeah because you’re nailing it and you gotta nail it before you scale it right, so you know.
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Danny Johnson: Like you just said, the quality of those leads is good and that’s what you got to start with.
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Danny Johnson: You know, because it’s a lot less work right all of that yep it’s less contacts less communications less appointments less analysis less everything.
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Danny Johnson: And you’re doing more profitable deals and you don’t need a big you know overhead of a big organization to handle all of it so it’s always yeah dial dial in and then start.
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Danny Johnson: Growing it and looking at the numbers, making sure that it’s not getting to the point where.
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Danny Johnson: you’re behind the power curve.
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Danny Johnson: And it’s taking more.
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Danny Johnson: money to make more you know it’s it’s like the speed to drag ratio kind of like on a.
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Danny Johnson: On an airplane like they say.
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Danny Johnson: The drag is exponential to speed, you know it’s it’s a it doesn’t like the double if you double the speed it’s not doubling the drag it’s actually quadrupling it.
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Danny Johnson: And so yeah growing the company in a way to where you don’t experience.
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Danny Johnson: That is always a smart thing to do.
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Colin Spivey: yeah we.
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Colin Spivey: kind of when I transitioned.
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Colin Spivey: Out of the partnership with my boss, whatever and started back on my own.
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Colin Spivey: I thought, well, I kind of know what I need to do, or just come in here i’ve made pretty good money this year and we’re just going to pump money into the business and build it right back up to where it was will be good to go.
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Colin Spivey: So start pumping money into the business and everything and lots of money was getting sent out, but there was no infrastructure built to handle that type of stuff.
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Colin Spivey: And so it did not work, so you can’t just put out tons of different marketing and mass just pump money and stuff and expect.
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Colin Spivey: Your business to be able to handle that, in the sense, I guess, and so that’s that’s one lesson I learned the hard way and then.
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Colin Spivey: After a couple months spending a whole bunch of money and it got to the point, I was like okay I don’t have any money coming in, I got to reevaluate something here.
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Colin Spivey: And so, then I kind of.
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Colin Spivey: pulled back on some of the marketing spend and really focus more on trying to build in that infrastructure and then kind of that’s when I really started training.
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Colin Spivey: Kimberly on kind of a lead and take lead management started really trying to hire for acquisitions and try to bring in more infrastructure to build it up, so that it wasn’t.
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Colin Spivey: Basically I was going trying to go super fast, but there was nowhere to go, because I didn’t have that infrastructure built out at that point.
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Colin Spivey: So it’s kind of the speed, the drag type thing.
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Danny Johnson: yeah well it’s cool because you got an eye on it, and you know what you need to do and i’m super impressed again with with what you’ve been able to do and.
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Danny Johnson: And I appreciate it growing in a smart way so yeah congrats to you it’s inspirational for a lot of people i’m sure that are going to hear this as soon as it gets released on the podcast so thanks so much for for joining us and sharing your story.
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Colin Spivey: yeah Thank you really appreciate your time and look forward to, if I can help anybody out at any point or any way feel free to reach out to me.
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Colin Spivey: You can find don’t really use social media, but you can probably find me on.
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Colin Spivey: Facebook just calling spike.
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TV.
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Colin Spivey: or that’s probably the best way to find me so yeah.
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Danny Johnson: So okay so Facebook, you want to give out an email or just leave it on leave it to the Facebook stuff.
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Colin Spivey: yeah can give out an email it’s calling just co Li in just one l at PGI homebuyers calm.
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Danny Johnson: awesome Thank you so much.
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Danny Johnson: Have a great day.
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Danny Johnson: You Danny keep in touch.
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Colin Spivey: yeah for sure.
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alright.
