When raising capital, you do not always need a long list or a huge variety of self-directed IRA investors. Sometimes, you can reach out even to a limited database and make them get in touch with you instead. On this episode of the Note Closers Show Podcast, Scott Carson shares an episode of his Money Monday coaching call from his WCN Crew members, where he and Larry Hoffman outline their step-by-step process for finding, contacting, and converting self-directed IRA investors found on the county records into private investors to fund their deals.
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Capital Growth Strategies Through Self-Directed IRA Investors With Larry Hoffman
I’m excited about this special episode. Most folks know that we teach workshops on a regular basis, but most folks don’t know about our monthly membership, our WCN Membership. That gets people into all of our online virtual workshops. Plus, we do some weekly coaching calls with our members. For $97 a month, it’s the biggest bang for the buck out there. It’s a great deal for everything we offer. Every Monday at noon Central Standard Time, we host a coaching call with our WCN Members. It’s called our Money Mondays. We’ll get anywhere from 12 to 40 people on there, depending on who’s showing up and what’s going on in the week.
Each week we focus on taking action and what their goals are for the week, and we also have a lesson involved. It’s a great weekly accountability call, for the most part, because I challenge folks to get one thing done this week if they can then. Also, about what the big accomplishments or the win from the previous week are. It’s such a great networking event, too, because people share what’s working in their business, what they are struggling with, and things they’ve learned from other events. It’s one of my favorite calls of the week because it’s a great way to connect with the people that are closing deals, taking action, and going from there.
We had Larry Hoffman. He was requested to be on. You’ve read it in a previous episode. He’s one of our 101 coaching students and doing a great job kicking ass and taking names. What’s great about Larry is he’s been coachable and taking exactly what we teach and applying it to his business to raise millions of dollars in 2021 and pledge money from self-directed IRA investors. He was requested by a couple of the other folks in the WCN group to share his step-by-step process, which is the same stuff we teach. We found this very valuable for everybody here because Larry shared exactly what he did.
It’s not a huge amount of IRA investors, but he shared exactly step by step what he’s doing to get people to opt-in, reach out to him and how he’s gotten several million in pledge per capita in a variety of different self-directed IRA investors. It is not a huge list. He had less than 300 investors, and around are less than 400 are in his database. He shared his step-by-step strategy, how often he reaches out, what he sends out to him, and the process after they reach out.
You’ll enjoy this special episode. It’s a sneak peek into our Money Mondays coaching call, but it was such a valuable episode. I thought you would love it. Make sure you take plenty of notes. If you want to get signed up for our monthly membership, it’s easy. Go to NoteUmbrella.com. It includes everything of our online workshops, one-day things, special classes, and also weekly coaching calls with yours truly. Make sure to read this episode, take some notes, and we’ll see you at the top.
Larry, let’s break it down to the basic stuff. Let’s start first with how you are finding investors. What’s been your best list source?
The best list that I’ve been using is the self-directed IRA. I’ll go into the different counties when I buy an asset and do a search. I have my VA do the search for me. She’ll pull that list, then oftentimes, I may have to show her how to tweak it to get what I need depending on different counties. I’ll get that information. I first send out that letter that you have.
It’s a one-page letter, which is, “I see that you bought this property. You do a mail merge of the property. Are you looking for more deals to fund? I’d love to talk with you about it.” Besides your little executive summary, what else is there? Is there a picture of the deals? Is it linked to your pitch deck?
It’s the information. I have a picture of myself in the lower left-hand corner with the link to my website. I have little verbiage that says, “If you want additional information regarding above-average returns, check out my website.” I haven’t checked any of that.
Your website is LJH Investments. It is your ten-minute pitch deck video for the most part.
I still haven’t rerecorded that. I don’t think I ever will. I’m not a perfectionist. I want to get it up. Once I get it and have my first take, for me, that’s good. I don’t want it to be movie quality and all that other stuff.
It shows that you are a normal guy. I got a little short video that my YouTube short on Perfection Equals Broke. If you’re trying to wait for the perfect thing, you never get it posted. You said, “Let’s get 70% or 80%. It’s better.” It goes to that video, then what’s your next step after you send out that one-page letter to them?
Every 60 days, I’ll send out a postcard. I took that letter that you had and shrunk that down into a 4×6 postcard. I use Click2Mail.com. My VA has my login credentials to it as well. I put credits on there. By credits, prepaid or whenever we do a mail, there’s money there. She’ll go up. It already has the list there. She’ll do a new campaign and send it out. Every 60 days, I send out a postcard. I’m constantly adding people to the funnel.
I’m going to keep following up with them every 60 days until they tell me that, “Go ahead and take me off the list. I no longer want any more information from you.” That’s been working well for me. Another thing that I do is lurk in Facebook and LinkedIn groups. Somebody will ask a question, and then I’ll post a response. I’ll have my little tag in there linking to my website. I get a tremendous amount of responses from that. What I’ve been getting is because I’ve been buying these deals, and they know that I’m a real boy or player that some of these people and referrals referred me over to other people funding partners.
This last one is a gentleman with about $4 million or $5 million that he says he wants to invest. He still hasn’t pulled the trigger on me yet, but he has five other guys that run within his circles. They all have anywhere between $5 million to $7 million. I’m trying to schedule a time to fly out at the end of October 2022 to meet them in California because I want to meet Jim, but I also want to meet his buddies and see if we can play a round of golf or go out and drink. They get to know me, and I get to know them. The big thing is following up with the postcards.
How many IRA investors do you think you’ve pulled that are on your master list?
It’s about 478.
It’s not a huge amount. That’s the thing. Do you keep it running until how many out of that 478 have followed up and reached out to you?
That’s my thing. That’s where I fall down. It’s like the KPIs and the metrics. I don’t keep track of that, unfortunately. I have about 25 people that responded to it. Out of that 25, I’ve already had 4 people funding.
Let’s take 25 divided by 478. That’s a 5% response rate. What was the first round that you set out?
It is 177.
Out of that 177, what mail piece are they on now?
I rotate them. It’s about the 8th, 9th, or 10th that I’ve hit them. I was hitting them every 30 days. What I did was I switched over to every 60 days, and now I’m thinking about hitting them once a quarter because I don’t want to be constantly in their face with them.
You’ve hit them that five times. 80% of sales come after the 5th time, then you have your long-term nurture campaign, which is what we call that in marketing. You’ve hit them that. You’ve got your long-term nurture. It may be a letter you send to, “Just close.” Paul asks a question, “Are you always including the address of their original investment property in the mail piece? I saw that you’ve funded that property at 123 Main.”
No, it says, “I saw that you funded a property in Hamilton County with your self-directed IRA. I wanted to reach out to you.” It’s your general message or letter that you had.
One of the things that we do mix up is the first time we’ll do, “This property is at such and such address.” I had somebody send me a postcard like, “I want to talk about buying your house at 2206 Homestead.” I’ll call that person. That may be something on the new round or anything new, “I saw that you bought a property at 123 Main Street.” That might be a little more of, “I got you,” thing like Paul because I know Paul puts the address on his as well. Catherine says, “This is brilliant. Your video being real is what everyone wants to see. Great job.”
As a follow-up, he put a system in place to make it easy, a spreadsheet, and his Click2Mail. He’s uploading the list, and his VA is logging in, then sending an email when they upload a new list. Some of you have already pulled way more than 478 already on the different county records, but you don’t need a lot of people to respond to it or to have some stuff. Larry’s got enough people now who have pledged money to him to fund all of his deals. He’s got more money than he is got deals. That more money gives him an opportunity to take down some bigger deals and have that ready. Not everybody is a yes to specific things. Let’s walk through that process. Are they emailing or calling you? What do you see as the bigger response to that?
A little bit of both. They’ll call and/or email me. Oftentimes, they’ll want more information about the programs and things like that. I try to keep it vague. I don’t try to go into too much detail because I don’t want to lose them over the phone. I try to set up a meeting with them. If they’re local, we’ll go out to dinner, lunch, or even at a bar and talk. Oftentimes, they’ll have a lot of questions about the program, but if they’re outside of the city of Cincinnati, I’ll set up a Zoom meeting. I no longer have the free Zoom because I had time out on an investor. I paid for the full version. That was very not professional when that happened.
The free version time out on you because it went longer than 40 minutes.
Oftentimes, I’ll meet with them or have a Zoom conversation. I’ll give you a perfect example. Jim is in California. I’ve met him four times via Zoom. The next thing that I do is I ask him all the questions that you talk about, “What are you doing in the market? How’s your money working for you?” I go down that road then I’ll send them the investor questionnaire. I use DocuSign or signNow. I have that on there, and then I’ll shoot that over to them. They’ll fill it out. It sends it back and creates a copy for me. When I get a property that I have accepted, I’ll reach out to them and ask them if they’re interested in funding. It’s pretty simple.
When you meet with them either on Zoom or in person, do you have anything that you take and give to them? Do you go through a SlideShare or slides? Are you going out and visiting? Do you take any case studies with you?
No, because a lot of times when they call, they’ll say, “I got your postcard. I went to your website. I watched your video. It’s very informative. I know exactly what you’re doing. Explain to me the rates that you’re doing and how much the money is,” and things like that. They already have a sense of what I’m doing and the investments that they’re going to get. When I have the meeting with them on Zoom call or in person, a lot of times when we have the meetings, like at a restaurant, it is just him getting to know me or me getting to know him or her. We’re making sure it’s a fit because it’s got to be a fit for me, too, to see if I like this person or if this person is going to be an ass or not when it comes down to it.
Have you dealt with some of those?
I have. I’ve had one guy that I flat-out told him, “This isn’t going to be a fit.”
Why is that? What was he doing?
He was a very sophisticated investor, and he wanted much more of the pie than what I was willing to give him. He wanted a 70/30 split. I’m like, “There’s no way I’m giving you a 70/30 split. I’m the one that found the deal, cultivating this relationship, and going to be managing it. I will 100% do a 50/50 deal with you in JV, but there’s no way I’ll do a 70/ 30 with you.” He was taken aback that I said no because this guy had $1 million. I’m like, “I’m not going to do it.”
Was he active? Was he outgoing to get his own deals or not?
He is. It started out like the 6%, and he was like, “I can get 6% now. I can do better than 6% because I’m actively lending my money out in the market at 12%.” I told him, “I can meet the 12%. If you’re willing to do more than the $250,000, let’s do a straight JV deal.” That was the initial deal that I was pitching that I got from those six mini-bulk assets.
It’s from the California hedge fund that we found during your one-on-one.
He wanted a 70/30 split. I didn’t have anybody at the time. I said, “There’s no way I’m going to give you a 70% of this.” I brushed him off. The funny thing is he’s still on my drip campaign. He’s within my email distribution, and he sees the deals that I’m doing. He reached out to me, “I like to start another conversation with you about doing the JV deal.” I’m like, “That’s awesome.” I wasn’t an ass to him, and he wasn’t an ass to me, but he wanted more of a pie than what I was willing to give him.
That’s the big thing that it doesn’t always mean no. It means not now on both ways, “You’re not a fit now for what I’m doing.” It also takes time to cultivate. If he’s out active, that’s pretty normal. “I wouldn’t be interested in 6%. I’m an active investor of 12%. I’m putting the money in. That’s fine if you want.” “I’m not going to do that. I’ll find the deals.” You have to know your value. That’s great. I’m glad you said that because a lot of folks on here don’t know their value. You’re scared. You’ll accept, “Yes,” and you can’t do that. You’ve got to stand tall because if a little bit of pushback, it’ll lose people, “You do know what you’re talking about. You do respect your business.” That’s phenomenal.
A lot of the people that have been responding back to me are active investors. If it’s 8%, they are 100% not interested in it. With these guys, what I did was I told him I would do a straight JV agreement. I have been working with an SEC attorney. He drew up a JV agreement for me. He is looking at all my copy to make sure I’m within SEC compliant. Since going to that JV model, I’m getting more people interested in those higher returns I’m projecting.
It’s because they’re putting in $250,000 or more, and you’ll be creating a special-purpose LLC for them. We want to make sure they’re structuring this property. It’s not a partnership. It’s structured properly on co-owners in the LLC. They are bringing the money in and getting a split of it because they’re active in the LLC. It’s not violating anything on the SEC. That’s a good thing there for you. What’s the lowest rate you’ve raised on your mail pieces?
The lowest was $30,000.
What type of return?
Six percent. The highest is $250,000 on these other deals. It’s like $50,000 or $30,000 here and $40,000 there. I made nine offers on some other assets. That one is going to be $278,000. That’s the one that I’m pitching to Jim out in California that if it works out, that’s going to be the one that he’s going to fund.
Are you asking for referrals? or Are they saying they have somebody that might be interested?
They’re giving me referrals. These are people that I’m meeting on LinkedIn that I’m striking up a conversation. I love Gary Vee. He talks about the $1.80 Strategy. You leave your $0.2 on people’s comments and postings. I’ve been doing that. If you do that 5 or 10 times a day, it gives you $80. These are people that I follow. This is a hedge fund guy that I was following. I leave little meaningful comments. It’s like, “That’s funny,” or something insightful, like, “I never thought about that, but that’s a good idea.”
You’re reading the post.
Out of this one, I struck up a good relationship with this hedge fund manager. He’s constantly sending me stuff. He referred me over to Jim. Jim has five other guys that he hangs around with that are multi-multimillionaires. That’s the group that I want to be in.
Is the hedge fund sending you deals to take a look at to buy?
Yes. That’s the nine that I made the offers on.
How much time do you spend a day on LinkedIn?
Thirty minutes at most.
Is there a time specifically that you go on there and take a look at stuff? Do you have it blocked out, or do you do it randomly?
I do it throughout the day. I do it at about 9:00 in the morning, noon, and 3:00 or 4:00 in the afternoon. Morning, midday, and afternoon. Throughout the night, I’ll sit there, look, see, and comment on people’s things. People will comment on my stuff.
Besides comments, is there anything you’re posting that you’re getting a lot of feedback on or people are showing interest in? Is it closed or deals you’re working on or, “I made an offer?” What are you seeing is working well?
The personal stuff works the best for me. I’ll try to do stuff creatively. I posted a wheel of fortune, “Larry buys residential and commercial notes.” I thought that was pretty clever, but I got a few likes. I wasn’t expecting it to go viral. I’ll post creative things like somebody driving by with a sign, “I buy notes.” The big thing I’ve been getting a lot of traction on is a personal post like Joni and I going hiking and doing something with the kids. I even posted on LinkedIn and Facebook about my dad with an abdominal aortic aneurysm.
I’m doing that to share my personal journey. It is business-related too because I want them to see that I’m a real person and that I’m not somebody that’s a fly-by-night going to take your money and buy some Rolex and Rolls Royce with it. This is a business for me. I’m 100% serious. I love my family, God, hiking, Joni and playing the guitar, and little things like that about me.
You’re building rapport by sharing a day in the life a little bit each day. Nothing too fancy. You’re taking images from your camera and then putting it into a grid of some sort. What are you using? Is it Canva you’re using or PhotoGrid?
I use Canva. I’m up to 112 people on my private lender list. These are people that opted-in and people that are interested in funding. Every Monday morning, I’ll send out an email about what I did, the deal or dud, and real estate news. On Wednesday morning, I’ll send out the LinkedIn newsletter. Between those two things, I get a lot of traction.
I’m going to share this because I got your email. These are the 100, and some investors are people who either have responded to postcards or reached out to you individually, and you’ve put them into a list.
I’m posting on Facebook. I’ll include my link, and they’ve gone over it.
It turned off that one of these deals was on a listing platform, and we reached out to that fund directly, and they had more for you to take a look at.
That’s the other thing because I’m closing on these. She told me that I was her preferred vendor. She’s only going to send them to me first. If I don’t want them, then she’ll send them out. She’s got four other deals that she’s going to send over my way.
This has taken a while. We first made the relationship with her back in December 2021 or January 2022 when you were out for the one-on-one.
You helped me with that perspective. January 2022, it first started, and now it’s October 2022.
That’s the thing. You said, “It’s not you. It’s her.” It’s that she’s also dealing with the seller or the owner of the assets that she’s working through something like that for you. That newsletter, you use that via email, then you also send it later in the week through a LinkedIn newsletter.
I take the exact same thing that I post on the email and shift it into LinkedIn. I use images like Catch-Up! or Deal or Dud real estate news, and I copy. Now what I’m going to be doing is I’m going to give my VA the copy. I need to do a video, and then I’m going to have her post it so that I’m not doing it. That Sunday before, I’ll write the copy for those three sections and then have her posted along with the images and in the respective spots.
How many people are in your LinkedIn newsletter?
How many connections do you have in total?
I’ve got a lot.
It’s about 15% across the board. I had a couple of other folks we worked with that started a newsletter and had a 15% response rate. What’s great is that it goes into their inbox as well if they’re not on your list. You send out that. Larry has about 2,400. It is not a huge amount, but more than the average. That’s good. That’s about 25% of people that subscribe to or follow you on your newsletter. That’s a good hit rate. You don’t need to have a huge. Are you using Octopus anything to grow your LinkedIn or not?
Follow them through. Do the stuff we teach and implement it. That’s the biggest thing. Tweak it a little bit for your own message out there. I want to bring this on because this is not rocket science. You’ve got some systems. Do you have four postcards? Did you say that you rotate two?
I try to be clever with the postcards. I had one with a melting, and I said, “Is your 401(k) melting and earning above-average returns?” I have a little bit of your message on it. That didn’t pull at all for me at all. When I try to be creative with the images and things like that, I do notice I don’t get nearly the response if it’s just the plane text. Either do the letter or take the letter and strip it down to its core components and put that on a 4×6 postcard and then send it out.
They’re reading it. There’s guaranteed read-and-write versus a letter, which is good. You’re going to see a different hit rate on stuff that does well, too, for you. Paul says, “What kind of deals are you seeing?”
I get both performing and nonperforming. With the performing, it’s difficult because I want to hold on to them for a minimum of two years. I don’t want the one year because I know how I am. I’m not a detailed person. Those twelve months are too short of a fuse. I want 24 months. In order for me to get my rate with the discount and everything, oftentimes, I can’t make that performing note work for me. On nonperformers, I can 100% make that. When you break it down, I’m getting 60% or 70% nonperformers and 30% performing.
That’s why we say the performing stuff, you would sell it after twelve months. It doesn’t mean it’s a twelve-month deal. Are you getting people asking, “Is this going to be a 30-year deal?” Do they think about that, and then are you having to correct that?
No, because of my video, they know they’re into it for 12 or 36 months. When I have the conversation, they’ll bring it up again. I’ll tell them, “These deals typically hold for 24 to 36 months. If we’re able to do a foreclosure, then we’re probably in it for 12 to 14 months. I can get your money out.” Oftentimes I’m looking at the cashflow, and a lot of the people I’m dealing with want that cashflow coming in, and that’s the big thing.
They don’t mind it dragging on if it’s performing and paying on a regular basis. Have you had folks who initially said one amount and came back with more?
I’m working with one. I’m trying to find a deal. He’s got $50,000 that I need to put in the work. I’ve had other conversations with him. He has $1 million. It’s $50,000, then we’re going to do $250,000, then we’re going to do another $250,000, or it could be the $50,000 or $500,000.
It depends on the deal flow, due diligence, and all that. Paul asked, “What percentage are you seeing in your nonperformers?” We should probably clarify that. Are these nonperformers that are upside down have negative equity or nonperformers with equity?
No equity. Negative equity. I’m at about $0.50 to $0.55 on those.
Value, but there’s no equity.
Once again, these people are smoking crack. It’s like, “I get it. I see the equity, but that doesn’t mean anything to me. I’m only looking at the unpaid principal balance, and they haven’t made any payments. I don’t know what you guys are thinking.”
Are you still dealing with a website guy who wanted you to buy all his performing stuff? Have you had any talks with him?
Did he give you a price for what he is looking to sell that performance stuff?
No. I kibosh that whole relationship because It was like a broker going through a broker and to the end person. I’m like, “How’s this going to work? You have three people trying to broker this and going into the end person. It doesn’t make sense.”
Did Brett reach out to you at Paperstac or something like that on their performing stuff?
He has reached out, and nothing’s transpired yet because I made a couple of offers. We were in dialogue. He’s busy with his platform and getting everything working that he’s taking a backseat right now. That’s the thing. I have them in a drip campaign, and I’m constantly trying to talk to him.
Paul, “Didn’t he want him to sell them on Paperstac?” Here’s the thing, Paul. He has them listed on Paperstac, but he wants too much. He says he is flexible in making an offer. We dealt with this beforehand. We made a bunch of offers, and he was like, “We made an offer.” “No, it’s too cheap. I want $85,000.” “Then put $85,000. If you have a price, put it down.” The most aggravating thing that Paperstac does is they don’t put things on there that are priced like a bait switch.
It’s only for overpriced stuff, but you’ll find leads, buyers, and sellers there. What you have to do is leverage those relationships to find other assets. I know that Keith Holland is working on some notes there from a couple of sellers. Catherine and Laura have worked on this. Don’t be afraid to reach out to these sellers that have 1 or 2 notes because they probably have more. Jessica, you’re working on three. That’s taken about 90 days to get the seller to come back to the table and stuff.
I made several offers from Paperstac going through the platform. I developed a relationship with 3 or 4 people. They have other notes. Even before they listed them on Paperstac, they were like, “Are you interested in this?” I’m like, “Yes. Let me run my numbers on it and see what I can do.” I had an offer accepted from Chris Seveney. That was listed through David Pollio going back and forth. He had a couple of other ones that I made bids on. They do have other products that they’re trying to sell, and then oftentimes, I’ll get an email like, “This came across. Are you interested in it?” That works out pretty well.
A matter of touching base and staying on top of things. You send an email out to your investor. Do you have an email going out to your bigger database on a weekly basis?
I don’t do that either. I do need to do that. I have that asset manager’s list you gave, part of the mentoring program. It’s one of those things where I get busy with the other stuff. I got a to-do list, and that’s one of the things I’m going to have my VA do. I’m hyper-focused on getting funding and always constantly on that.
You’ve got enough deals in the pipeline now that you’re working through from your warm sources. That’s a beautiful thing, doing some of the simple things we teach and going from there. It’s good stuff. This has been good. Thank you for sharing.
One thing for me is the organization, and I use Copper CRM. It has swim lanes and automation too. When I put it into a column, I know that I have to do certain things, and it creates a to-do list for me. It’s because if I don’t, I’ll forget.
Keith got something very similar to that too. They’ve got the task and duties they can put on your calendar and go from there. Kyle asked a question here, “Are you calling banks each week?” You don’t need to because you’ve made good relationships online.
What I did do is I reached out to some of the local banks here in the city, some of the smaller ones. I’ve called 4 times and left 4 separate messages to 8 different companies. I have yet to hear back from any of them.
How big are they? Are they small local banks?
They’re probably too small. You could walk in and talk to the president of the bank and have better luck there, but they’re too small to take anything lost here. Jessica asked a question, “When you reply on social media, how do you have your web address? Is it part of your signature?”
There are a lot of Facebook groups within Facebook that I typically work in. I’m not going to go there and blast my information. I sit there and read the post. If I can contribute, I’m like, “Have you thought about this?” I’ll say, “Larry Hoffman LJHInvestments.com.” That’s it. I don’t say, “Go over here and learn how to earn 8% or above every return,” because now you come across spamming and selling.
We call that the indirect close. You put it there, they are curious, they click on it, and it takes them to your pitch deck. It’s the indirect close, and that works well. It’s not aggressive. I love that. That’s one of the best things. Assume they don’t, but the worst thing has already happened when you’re posting. They have invested with you. If anybody does, it’s great.
LinkedIn is a little bit easier because I don’t sign it because they can go back to my contact information and see it. What I’ve been doing on Facebook is in my About info, I added my LJH Investments’ Earn Above Average Returns. I am trying to test whether or not to sign it with LJH Investments and talk about earning an above-average return or respond to their post.
It’s like, “I’m the owner of LJH Investments.” You’re using all that square footage, all that real estate there to share on About like, “I’m a real estate Investor.” They don’t put anything else in here. This is great. Your links, phone number, and this nonsecure and secured information are there. That’s great stuff. You can see your posts here if we go to your activity and your featured stuff, which you can tweak this featured stuff up on a regular basis. You change it all around. That’s awesome.
Good stuff there. I tell people exactly, “I buy performing and nonperforming notes,” right at the top. Everybody’s seeing what you do. Your ask is telling them what you’re doing. You’re getting the word out. First of all, people don’t have anything behind there, and they’re not sharing what they’re looking for. If you share what you’re looking for, it’s amazing that people will send you stuff. You don’t need to do a lot of the work if you share what you’re doing and building each day a little bit of drip marketing across those different platforms. Do you have a weekly calendar that you try to focus on a little bit?
The whole thing that I need to get with my VA on is setting up calendars and things to be done because she doesn’t have access to my Facebook link, but she does have access to my LinkedIn. She was doing little posts and things like that. I need to get back to doing that. I have her sending out the postcards and then also looking at short sale deals for me. We are sending out postcards for short-sale deals as well.
I can help you with a little bit of that. Let’s make this valuable for you because you’ve given much. Create a Buffer account on Buffer.com, then give her access to your Buffer. She can post to Instagram, LinkedIn, Twitter, and your Facebook profiles. You can set it up to preschedule it to go out when you want to go out. You won’t be able to post into groups, but at least she can at least do 80% of the heavy lifting and get stuff out on a regular or daily basis. Jessica asked one more question, “When are you talking about your postcards, are you using the same postcard every month, or are you designing something new every month?”
It’s the same postcard every month. The big thing is come hell or high water every 60 days to send out the postcard.
Do you have pictures of properties every time or not?
I lead those same properties on there. If you go back to the one that’s melting, that one didn’t do well for me at all. I rotate between that one and the other one, but I’ve been telling my VA to send that one out.
That’s in Basecamp under the files if you want to take a look at it. You took this wording straight from the one-page letter in the manual and tweaked it for yourself, a little bit about you in Hamilton County, where they’re living, your information, and that’s it.
Paul, an answer to your question about the address., I am adding the address there. Your private money loan on whatever street made me realize we should talk.
Let’s hope it is automated. You’re not sending the same address. I had somebody one time some letters out, and they put one address. They didn’t merge the addresses. People were contacting, “I don’t own property 1 or 2,” and they’re like, “Okay.” I made sent out 500 letters but didn’t do a merging address. I said, “Did you check your merge?” He was like, “Crap.”
I bought a list from ListSource of all seller finance notes. It was 568 leads. I did a mail, and I inadvertently sent it to the wrong address. I sent it to the borrower and not the owner. I’m like, “How come I’m not getting any calls on this?” I went back in. I looked and said, “I had it swapped.” I never went back in to fix it. I still need to do that and send that out again.
You’re not going to get a very good rating on that. What’s one thing you’re working on? What’s your focus?
I’m trying to get the closings done with those six assets. I’ve got my attorney. There was a missing note that he was constructing and then the assignment of mortgages from one company. They’re both from two different companies but held by the same seller. We’re working on that. We should be able to fund that. That one’s going to throw off $38,000 a year cashflow.
Do you still get your boss asking about what you’re doing?
I do. We have a conversation coming up. He may be interested in quite funding some of my endeavors.
Thanks much for sharing here. I appreciate it. Keep kicking ass and taking names.
Thank you, Larry. He shared step-by-step stuff that we worked with him on that stuff there for you. It works. You got to put the stuff in favor, and it’s not perfect. It’s not the cleanest, sometimes. It’s not the most organized as far as he said on his pitch deck, “It isn’t perfect. It’s delivered.” His emails have not been perfect, but they’re at least delivered. You’re going to screw up. Perfection is a myth. If you keep being perfect, you will never get it delivered.
It messed up on us. It’s going to happen. Keep it going. All of you are capable of doing amazing things. Start sharing that stuff on a regular basis. You’re looking to raise capital. That’s one of your big things. You got to start communicating. I got many phone calls from 4 or 5 people. I tell them, “You got to start connecting with it.” I’m like, “I’m not going to send you my list or my investors because I’ve built those relationships. I’ve harvested those seeds that we plant.”
You all can be planting seeds, not a lot, but 50 to 100. Start that process. All of us can do more. If you’re doing nothing, do something. Start getting the word out and do it on a regular basis. That will wrap it up. I hope that was valuable for you. You can learn anything. Take action. Action build success. You’re going to mess up and stub your toe. Larry, thank you for sharing a step-by-step approach and what he’s doing, what’s working, and what’s not working. If you do this, guys, we’ll see you at the top.
- Larry Hoffman
- Perfection Equals Broke – YouTube
- Octopus CRM
- Copper CRM
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