I want you to put some thought and consideration into your phone number. This step is VERY IMPORTANT.
If you don’t have a job, you may be able to get away with using your cell phone (although I don’t recommend you do).
But if you have a job, and if you are not always able to answer your phone then it is absolutely imperative that you have some form of call tracking in place.
The way that you answer the phone, and your voicemail message are completely different depending on if a cash buyer or a motivated seller is calling you. I also recommend that you set up a phone system instead of relying on your cell phone. The system we use and recommend is called Ring Central
How will you know if a buyer or seller is calling you? By using Call Tracking
The way we have our system setup, we use Ring Central as our phone system and we have a cash buyer phone and we have a motivated seller phone (two seperate phones). We even label our phones to say “cash buyer” and “motivated seller” so there is no confusion as to whether it is a buyer or a seller calling.
All buyer calls are routed to our cash buyer phone through Call Rail. All seller calls are routed to our seller phone through Call Rail.
By doing it this way, we have call tracking and we also have a phone system. We can give our Acquisitions Managers a SELLER PHONE and we can give our Dispositions Managers a BUYER PHONE. I recommend that you set up your system the same as the way we do. There are more complex setups that work directly with Podio, but if you want something simple when you start out, then use the setup that has worked for us for more than 12 years.
What about your direct mail? If you are mailing a postcard to an absentee list and you are mailing another post card to an inheritance list how will you know which campaign worked better? If you are using call tracking you will know. You will set up two different numbers and you will call one number “absentee” and one number “inheritance”.
In the previous video, I showed you how to set up your websites. You need to have a cash buyer website and a motivated seller website. Each of these sites should have a different phone number so that you know how many calls you are getting from your websites and also which websites are working better for you.
This number should be DIFFERENT to the number on your direct mail. It should not be the same. In fact, every time you sent out a direct mail campaign, you should use a different phone number in order to track your results. Every website that you have should have a different phone number so that you can keep track of how many leads that website is generating for you. You should use a different number on your Facebook Page, and on your YouTube Channel. And that is why you need call tracking like Call Rail
You need to know where your calls are coming from and how effective your marketing is. If you are spending thousands of dollars a month on marketing and direct mail you MUST know how effective that marketing and advertising is.
So don’t skip that step and make sure you get set up with a basic Call Rail package (which is currently $45 per month) which will give you 10 different phone numbers.
You can have a number for your cash buyer website, and a number for your motivated seller website. You can have a number for your bandit signs and a number for your postcards and a number for your yellow letters. That is a good place to start. Save the other phone numbers for your direct mail campaigns.
Now that you have that setup, the next thing you need to do is to start sending out direct mail. I recommend you start with postcards since it is easier and less expensive. Make sure you visit this page to see everything you need to know about mailing postcards to motivated sellers.
You can use our system that we built for our students for direct mail which is called Lex Direct Mail
You can also use Yellow Letters instead of postcards. You will find that you get a higher conversion rate (about double) but they also cost twice the price. We have found that our results are similar. My first mailing campaign I ever mailed was 500 Yellow Letters which resulted in purchasing one house which made me $25,000.
The easiest way to get started is to download a list using our List Source Link. The easiest list to start out with is an absentee out of State List. It is a small list but it is a good list especially for beginners. Then you can use Lex Direct mail to mail out your postcards to that list.
Our favorite tool and resource that we use to create and compile lists is Propstream
This tool is a no brainer for real estate investors. It gives you cash buyers, motivated sellers, foreclosures, vacant properties and access to see properties on the MLS. It is an excellent tool for creating lists to market to motivated sellers. you can check it out by clicking here.
If you want us to mail for you, you can use our Virtual Assistant (VA) Service. We can purchase your list and we can also do the mailing for you. Contact our Support Desk at supportdesk at lexrealestategroup.com for more information about using our Virtual Assistant services.
Now that you have your website and you have your call tracking in place it is time for you to get started with your direct mail campaign.
The most important thing for new real estate investors is to start marketing. I recommend that you start out with some bandit signs and also start mailing postcards based on whatever budget you can afford. But start mailing now! And let me know how it’s working out for you.