Tommy Harr
speaker
78 appearances
1 recordings
1 series
first heard Apr 2025
last heard Apr 2025
Tommy Harr’s voice in public audio — every appearance, attributed to the second.
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Appearances
We've had, I think like 10 deals in the last two or three months directly just from those live transfers from our cold callers. We're paying those cold callers $300 a week. So $300 a week, if they close a deal, they get a bonus, but it's more about the being in the office. They're younger guys usually, and they want to just feel and see what it's like to run a real estate company.
So you can even do it for free if you've got, but you have to build a brand to do that. People are reaching out now. Hey, how can I work for you? And that's one of the ways that we're doing it is putting interns into every single one of our businesses. And we're about to do that on the, on the dispo side, the junior disposition and kind of do that same model.
Yeah, never done a deal. I mean, pull a list from let's call it PropStream, get a $99 a month account, pull a high equity list, free and clear list or a absentee and get on a four line dialer. So you just got to learn how to just get the nose. You got to learn how to just get over your fear of being on the phones.
Really, that's all it is, is training yourself mentally and then continue to work through that. But if you're a solopreneur and you're actually making money, you've actually done deals, you shouldn't be spending your time cold calling. You should hire that cold calling out. You should be using some sort of virtual assistant to drive that lead flow on the front side.
So you're actually talking to warm leads instead of And they kind of backtrack a little bit. You should be doing 500 to 900 ish dials a day on the solo side. And that should drive one to two leads a day if you get good. So are you do you want to spend three, four hours on a dialer and get told no all the time or get hang ups?
Or do you want to be on the side where you're actually picking up warm leads? The difference between those two is going to be money. Do you have the money to spend on that marketing?
Yeah. So I will caveat and say my business partner, Andy, he runs most of the sales stuff, but I do know the numbers. So we're about 30 leads to contract right now. And then 27 leads to closed on the, on the cold calling side. There were one to eight or 10 on the TV lead side. So those are quicker. They're ready to close faster, but they're more expensive.
I think we're about $4,000 cost to close on the TV and we're about $1,200 for the cold call. But the sales cycle, like you said, is way longer. So we're touching these people 20, 30 times, maybe more. And it's about four to six months on, on those to get them closed.
We're spending $15,000 alone on TV, plus probably the $2,500 agency. So in between 15 and 20 grand. And then we're spending another $10,000 to $12,000 on cold calling, CRM, skip tracing, all that stuff. So we're super lean. We're really good with our data. We're not pulling a lot of lists all the time because we've been in one market for a long time. So nothing's really that new.
It's just recirculating the data.
Agreed. Agreed. And that also doesn't include commissions too. So, I mean, we're stroking huge checks on the commission side. I mean, our guys are making at least $10,000 to $15,000 a month. Yeah. You got to be ready to spend the money. But also if you're listening to this and you're like, I'm not to that point yet. Don't spend the money unless you're ready. You got to get good on the phones.
You have to make every single lead count, especially if you're doing out or inbound. So those are just truly expensive. You can quote unquote waste cold call leads because they're really cheap. We're like 35 to 45 a lead right now dollars wise. So like if you say the wrong things on the phone, you're not throwing away a $5,000 PPC lead. That's really important.
And then blame TV. And then blame TV.
Yeah, I mean, I would say the first thing you need to do is specifically like a wholesaling company, you need to outsource everything, outsource internally, everything that's not sales right away. So a virtual assistant is typically going to be your best option.
So somebody that's going to be able to pull your list for you, do your backend data, do all the busy kind of BS work that you have to do in a wholesaling business to where you're only on the phone. So you're on the phones. And then once you're closing a bunch of deals a month, let's call it three to five deals a month, maybe less. then you hire an acquisition.
But know when you bring somebody on, then you're taking a couple steps back to buy your time in the future. So you're not going to be closing the deals. Some of those deals might not close that you are going to be on the phones with. So you got to just be okay with taking a couple steps back, knowing that in the future, it's going to be worth it.
And then also as you're right now doing it by yourself, building SOPs for everything. So as you're on the computer in the morning, Loom, L-O-M, your screen, and just talk into it like a third grader.
And those are going to be the way you train your employees because most people, once again, they bring on a VA or a team member and they get so busy doing other things that the VA ends up sucking, quote unquote, this isn't going to be on camera, but They suck, but it's really because you don't have enough time to train them and you're not giving them the time to nurture.
And we've learned that just so many times. We've helped people hire VAs and it's more into you have to you have to be ready for those people. So build those SOPs, build those training docs and do it slowly. Everybody wants to scale and scale fast, but it's it's all about people and processes and it takes time.
It took me 24 months to make a real dollar in the investing space. Now, I was making money with my dad doing home inspections. I was learning. So another thing that people don't talk about, and it's the same type of concept, is career capital. So how long are you going to actually stick to something? And are you taking something out of it?
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