PART 1
Three different ways to do it.
There are three ways to get going: prospect yourself, start with direct mail, or hire a caller. Which one fits depends on your time, your money, your experience and what you are comfortable doing. Pick the path first, then build.
Three ways to start.
Pick the way that fits your time, money and comfort.
The first way is you do all of this yourself. You are doing the calling and the prospecting, whether that is actually calling or texting. Your time is the cost.
The second way is to strictly start with direct mail. You mail the entire list, and it is very set it and forget it. You get fewer calls, but there is much less operational drag overall.
The third way is hiring a caller, training them up, then managing them and taking the leads as appointments. The caller sets the appointments and you go to them. If you are virtual, you take those appointments right where you are.
So the way I see this, there's kind of three different ways to do it.
How Tyler got started.
Consider the mail-first path if you have the budget.
The question I got was a good one. As a one man team, how would you break down an average day between prospecting, calling, email and appointments.
My answer starts with budget. If you have the budget, mail is one of the easiest ways to begin. That is the way Tyler got started, and a lot of people do not know his origin story.
Tyler used first to market data when he got started off. This was a long time ago.
Compare the three ways against your own workday.
Tyler had a full time job at the time, and he was in the military. It was not a job where you could just step out and take a call.
That is a real constraint, and it is the kind of thing to check before you pick a path. Look at your own week the same way. Write down the hours you could actually answer a phone.
But he had a full time job, and he was in the military.
BEFORE YOU MOVE ON
PART 2
Three ways to get deal flow going.
There are three ways to get deal flow going, and you get to pick one. Mail and inbounds, a hired caller, or you do the calling yourself. Time, money, experience and comfort are what decide it.
Direct mail gets higher quality leads.
Use mail if you have more money than time.
Tyler did direct mail exclusively, took the inbounds, and walked the properties himself. When he closed his first transaction, he took all of that money, hired a caller, and expanded out from that point.
So you can go that path if you have way less time than money, because you can use the money for direct mail. You will get fewer responses. The leads that do come back are higher quality.
You'll get less responses, and the leads are higher quality.
Compare calling on cost per contract.
Calling is cheaper from a cost per contract perspective, if you do everything correctly and you can manage the callers and all that good stuff. That is a real if. It assumes you have the time and the attention to run people.
The third door is that you do all of this yourself from a calling perspective. A lot of people do not like to do the prospecting side. I have met people who are total savages and will do this entire process as a solo.
And the kind of third door is that you do all this yourself from a calling perspective.
Three doors
Pick the door that fits your time and money.
Direct mail
- What it costs youMoney for mail
- ResponsesLess responses
- Lead qualityHigher quality
- Cost per contractHigher
Hired caller
- What it costs youMoney plus managing
- ResponsesMore responses
- Lead qualityDepends on the caller
- Cost per contractCheaper if done correctly
Do it yourself
- What it costs youYour own time
- ResponsesThe ones you call
- Lead qualityDepends on you
- Cost per contractYour time only
People prospect after their W-2 job.
Block your evening and prospect yourself.
There are case studies in the challenge where people prospect themselves after their W-2 job, in the block that ends at 6PM. Then they walk properties until 7PM. They set appointments for themselves.
So there are a lot of different paths you can go down. That is the framing I would think about. Pick your path based on what your experience is and your comfort in each of those.
So there's kind of a lot of different paths that you can go, but that's the framing that I would think about.
BEFORE YOU MOVE ON