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Episode Transcript
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Speaker 1 (00:06):
How do I prepare to talk to sellers when I'm doing
acquisitions?
So just yesterday I broke downthe King Closers formula from A
to Z everything that you need toknow about how to talk to
sellers.
But we also need to take sometime out to talk about the
preparation that you need, andseveral of you guys have asked

(00:28):
like hey, rj, can you show usyour screen when you're calling
sellers?
The only way that we can dothat is we have to edit the
video, because YouTube will takeit down if we show too much
private information.
But I can show you my screenand how I prepare and what I'm
navigating when I'm talking toeach motivated seller.
Now, before we get into mesharing my screen, I want to

(00:52):
talk about the preparation whereyou're actually able to execute
relentlessly.
For one, you need to have thetime blocked off to where the
only thing, the only priority,that you have on your plate, is
calling leads and connectingwith these motivated sellers.
Now I personally after myselfdoing acquisitions for years and

(01:13):
years and years and managingliterally hundreds of people
that have done acquisitions, Ibelieve that the max time limit
that you could call motivatedsellers before you need to have
some sort of like decompression,reset is two hours.
You could go about two hoursand then it's like man, I'm

(01:35):
going to start skipping out onsome of the open-ended questions
.
I'm going to start notlistening as well as I was when
I started, and so what I believeis is that you need to have two
hour time blocks throughout theday.
Now, the way that I personallydid this myself is I would start
at 10 am Central and I wouldfinish at 6 pm Central, and I

(01:56):
would go from 10 am to noon andthen I'd give myself about a 20
to 30 minute break and then Iwould come back 1230 to 230,
give myself another 30 minutebreak, come back from three to
five and give myself anotherbreak and then finish out the
day with any hot leads, followups, just whatever I was feeling

(02:17):
like was that low hanging fruitthat I could go close.
So have those time blocks.
The other thing is is that youneed to be mentally prepared.
Now.
This starts the night before bygetting a good night's rest,
being energized and just listenfor me.
Hey, caffeine, baby, likelisten, I'll have a coffee, an
energy drink, whatever you needto do to make sure that you are

(02:42):
100% present, because the greatclosers are great listeners.
You need to make sure that youare 100% present, because the
great closers are greatlisteners.
You need to make sure that youhave enough energy that, when
maybe you're talking to along-winded seller or it's an
emotional seller, where maybethey're dealing with divorce or
death or an inheritance, youhave to be able to emotionally
connect with them and be able tolisten to everything that's

(03:04):
coming along with that scenarioand offer them a solution by
buying their property.
The next thing is you also needto know who you're going to be
calling.
Right, you have to have yourleads together or, if you're
cold calling, have your listalready pulled.
Your time block that you setaside for calling sellers should
not include lead generation.

(03:27):
It should literally be I amonly calling sellers during this
time.
This is what I refer to as arevenue generating activity.
Lead generation should not be apart of that.
The lead should already begenerated and you know exactly
who you are going to be calling.
Now let's talk about what myscreens look like, because we do

(03:49):
everything virtually.
We don't ever go tobelly-to-belly appointments, we
don't go see the house, so weneed to have everything ready.
So I'm going to share my screen.
The first thing that I'm goingto have available is is my
comping softwares.
Now here we use both PropStreamand Privy.
I'm going to be logged in.
I'm going to be ready to usethese.

(04:10):
So anytime I get a seller on thephone, the first thing that I'm
going to do is I'm going tocopy that address, I'm going to
right click and I'm going toGoogle search the address to
then do a Google Street View, sothat pulls open a new tab and I
do a quick walk through theneighborhood and I'm looking to

(04:31):
see.
Is there anything about thisproperty that would immediately
be a deal killer?
For example, being across thestreet from commercial
industrial, a school on a busystreet, industrial, a school on
a busy street, something oddabout the house.
And it also gives me a baselinefor the condition of the

(04:51):
property.
You can tell a lot just fromlooking at it from Street View.
Now, one of the things that youneed to pay attention to is on
the bottom right-hand corner.
It will tell you when Googleactually took the picture of
that property.
So, for example, if it's 2025today and the picture was taken
in 2020, take the image with agrain of salt A lot can change

(05:13):
about a property in five years,but it does give you a general
idea of the condition of theproperty and the neighborhood
and if there's any reason as towhy we should not continue the
conversation, then I'm going totake that address and I'm going
to drop it in to PropStream andor Privy so I can begin getting

(05:34):
an idea of that quick.
After repair value or thecurrent market value, you Now
the other tabs that I haveavailable for me to use and I
use on each and every call.
Of course we have to have ourprofit calculator.
This is what we're going to useto calculate what we can offer

(05:55):
on the property and we cantoggle the numbers right.
We're going to play around withwhat the ARV is, the amount of
repairs, the contract price ofthe seller and our assignment
fee.
Now, remember, using our profitcalculator, the only numbers
that we ever edit are the aquaboxes.
Everything else is a fixedprice, so we're not ever going

(06:15):
to change the closing costs, theholding costs and the contract
price of the buyer isauto-calculated based off of
these other four boxes.
So I've always got thisavailable to me so I can play
around to see what I can andcan't offer to the seller.
The next thing is I'm going tohave my contract available,

(06:36):
right, be prepared.
Now, when I say be prepared, Itake it to another level, where
I go in and I go ahead and fillout the date for the contract.
I go ahead, of course, have myentity in as the buyer.
I even go as far as I alreadyhave the dollar sign in for the
purchase price.
I'm going to go ahead andassume that each and every

(06:59):
seller call that I have, I'mwilling to give them 48 hours to
sign that contract.
Now I will amend this based offof the conversation, but today
being June 25th, I'm going to goahead and put the null and void
date of June 27th.
I'm also going to anticipatethat the majority of my seller
calls would want to close infour weeks or 30 days.

(07:22):
So I'm going to go ahead andI'm going to put a closing date
of July 25th.
Again, I can amend this, butI'm just trying to prepare and
eliminate as much work aspossible up front.
So those are the boxes that Igo ahead and pre-fill in.
So when I do talk to a seller,all I have to do is come up here
and change the name of thecontract and all I do there is

(07:47):
literally remove copy oftemplate and put in the address.
So I just paste the address inso I would have 123 Main Street,
fort Worth, texas, 76179,purchase agreement.
That saves in my Google Doc,inside of my Google Drive, and
then I put the seller's name,the subject property, the legal

(08:07):
description which you can pulldirectly off of PropStream, the
price that we agreed on.
I don't have to change theacceptance date, I don't have to
change the closing date.
I put the title company which,if you don't know which title
company to use, you can get thatfrom our market PDF, which is
in the show notes, in thedescription, right down below,

(08:29):
and then you just have to putthe governing law, which is the
state in which the propertyresides, in.
If you have any otheragreements, any special
arrangements, you would justtype that in to this box.
Once that's done, I come up tofile I download, as a PDF Pops
up and then I'm going to comestraight over here to our

(08:51):
e-signature software, which weuse Dropbox sign, and I would
just drag and drop it, put inthe signatures and send it to
the seller.
Now the only other tabs thatI'm going to have open is my
Dispo software.
Now we're going to start withInvestorLift.
All I would do here and thereason why I have this up during

(09:13):
acquisitions is, say, I'm onthe phone with a seller and it's
in a location that I'm notfamiliar with.
I would just drop in the city,fort Worth, wait for that to pop
up, filter buyers, and this isgoing to tell me how many buyers
do I have.
I have 49,000 buyers and thisis going to tell me how many
buyers do I have.
I have 49,000 buyers.

(09:33):
Now, remember my rule of thumbis we need a minimum of 2,000
cash buyers.
So obviously, fort Worth, texasbeing the 11th most populated
city in the United States, wehave plenty of buyers.
This would be for more rurallocations that I can't think of
off the top of my head.
So you fill that out.
The other tab that I have openis my speed to lead.

(09:57):
The reason why I have this openis because a lot of times if
I'm buying either active couponor exclusive leads, I would be
buying them directly off of themarketplace and I also could see
how many buyers I have insideof the city or inside the county
prior to me even purchasingthat lead.

(10:18):
So I have this tab open becausethis is one of my top lead
generating websites, which Iwould do while I am doing
acquisitions.
So that is how I coordinate andprepare myself to do
acquisitions.
Now my personal setup is I havefour monitors.
Now you don't need fourmonitors, you can absolutely get

(10:42):
away with two.
Some people try to get awaywith either using a laptop or
one monitor.
I personally believe that'sgoing to be really difficult to
navigate.
Now what I will say is, themajority of time when I do
acquisitions, I'm recording iton camera for you guys to watch.
So one tab my bottom rightmonitor is almost always for my

(11:05):
streaming software.
My bottom left monitor is forall of the tabs in which I work
on.
So this is why normally, whenyou guys see me talking to a
motivated seller, I'm lookinglike this, because I'm looking
directly at that monitor.
I have two monitors up at thetop.
Top right monitor is where Ikeep my emails, and normally I

(11:29):
don't have to check those whenI'm doing acquisitions, unless
I'm checking to see if a sellersigned a contract and making
sure that when I send thecontract it actually got
delivered and there wasn't amiscommunication around the
email address.
And then my top left tab isstrictly for Spotify because I
love listening to music and Ilisten to music at all times

(11:52):
while I'm working, unless I'mlive or talking to sellers.
So that's how I navigate it.
You can absolutely get away withtwo monitors.
What I would say is you can useyour right monitor for your CRM
, your leads, whatever, and thenyou've got your left for your
comping software, the contract,the e-signature, your dispo

(12:15):
software and you are fullyprepared to rock and roll.
But at the end of the day, youhave to be prepared when you sit
down to do acquisitions, andone of the biggest time killers
is you have a two-hour timeblock and then you take 20
minutes to get set up.
This is why I started my daycalling sellers at 10 am.

(12:38):
I would get to the officebetween 8, 30 and 9 and the rest
of the morning was aroundpreparation, making sure that my
leads were ready, making sure Iunderstood what my queue inside
of the CRM looked like, gettingall of my tabs pulled open,
prepared for the day.
And when I start dialing at 10am, central, I know I am

(13:01):
prepared to execute.
So as you go into the next dayto call sellers, make sure you
take that time to prepare, getmentally ready, make sure you're
energized and you are fullypresent when you're talking to
these motivated sellers, because, remember, they need us more

(13:21):
than we need them and they arerelying on us to be 100% present
during these calls.
I'd love to hear how you guyshave your acquisitions set up.
Do you have multiple monitors?
What tabs do you have pulled up?
Did I miss anything and maybeshould I change how I set myself
up?
Let me know in the comments.

(13:43):
Show me some love on this video.
We'll see you guys tomorrow.

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