He Scored 7 Deals in Record Time—A Must-See John Looney's Success Story! (Part 1)

Summary

In this testimonial video, John Looney shares his transition from the solar industry to wholesaling real estate. After leveraging a lead generation service, he quickly closed two contracts on his first day. He discusses his approach to negotiating with sellers, emphasizing empathy and persistence, as well as his strategy of selecting leads in high-demand areas for investors. John highlights the importance of follow-ups and providing value, offering advice to new wholesalers about persistence and handling leads with care. His quick success demonstrates the power of focused strategy and experience in sales.

Takeaways

• 😀 John Looney, with a background in the solar industry, transitioned into real estate wholesaling after being inspired by the success he saw in the field.
• 😀 His first day using the lead generation service resulted in two contract closures, showcasing immediate success with the leads.
• 😀 Compared to his previous experience with batch leads and dialers, paper lead services allowed John to save time by contacting leads who already expressed interest in selling their properties.
• 😀 John invested in the Platinum program to maximize his real estate wholesaling potential, buying non-exclusive leads to gain experience before making larger investments.
• 😀 He emphasizes empathy and rapport building during calls, acknowledging that many sellers have been frustrated by previous wholesalers and ensuring they feel cared for during conversations.
• 😀 One key to his success is persistence—he calls leads multiple times and follows up via text and email, ensuring no opportunity is missed.
• 😀 John adapts his communication style based on the seller’s mood or situation, using language that allows them to relate to him and feel comfortable during the call.
• 😀 When discussing contracts, John prioritizes explaining the details clearly and walking the seller through the agreement to ensure trust and transparency.
• 😀 His market focus includes various regions of Texas, such as Dallas, Houston, and Amarillo, looking for areas with opportunity and investor demand.
• 😀 John looks for leads that meet specific criteria, such as properties with multiple bathrooms or large square footage, to ensure a higher chance of profitability for investors.
• 😀 His approach to closing deals includes clear communication about timelines, expectations, and ensuring both the seller and investor are on the same page, which has led to several successful contracts.

Q & A

What made John decide to transition from the solar industry to real estate wholesaling?

John transitioned to real estate wholesaling after seeing the potential income in the industry. He was already investing in properties and flipping houses, and after learning about the profits wholesalers were making, he decided to dive into the wholesaling side of real estate.

What was John’s first experience with lead generation, and how did he find it compared to other methods?

John's first experience with lead generation was with BCH Leads. He found it much more efficient than other methods, like batch dialing and calling local properties. He appreciated that paper-lead services brought leads who had already expressed interest in selling, saving time and effort.

How did John manage to close two contracts on his very first day with BCH Leads?

John closed two contracts on his first day by using a paper-lead service, which allowed him to reach out to sellers who were already interested in selling. The pre-screened leads made the process faster and allowed him to focus on negotiating deals.

What was the main reason John felt that many wholesalers were unsuccessful in their approach?

John observed that many wholesalers lacked the proper approach. They either called sellers too infrequently, lacked empathy, or failed to follow up properly. This often left sellers frustrated with the process, while John’s caring and empathetic approach led to more successful deals.

What kind of empathy and rapport-building techniques does John use when speaking to sellers?

John uses high energy at the start of calls to engage sellers and gauges their mood based on their tone. He asks questions that show understanding, such as 'Did I catch you before your coffee?' to make sellers feel comfortable. He then allows sellers to vent if needed, building trust before moving towards closing.

How does John handle objections from sellers who want to show the contract to others (e.g., a spouse)?

John handles objections by scheduling a follow-up call at a time when the seller will be with their spouse, ensuring that they can go over the contract together. He also emphasizes the time-sensitive nature of the contract, creating urgency without pressuring the seller.

What criteria does John use when selecting areas and leads to target for wholesaling?

John selects areas based on opportunity and growth potential. He looks for areas with a high population of buyers, considering factors like the number of buyers and property types that investors typically target. He prioritizes properties that are more likely to be flipped or rented by investors.

What kind of properties does John typically target for wholesaling?

John targets properties with multiple bathrooms, large square footage (over 1,000 square feet), and those in areas with low population but high demand for rentals. He focuses on properties that are easier for investors to sell or rent, ensuring profitability for both himself and the investor.

How does John ensure that his leads are nurtured properly for successful deals?

John believes in consistently following up with leads, calling multiple times throughout the day, texting, and sending emails to increase contact opportunities. He makes sure to ask when the best time is to call back and tailors his approach based on the seller's situation, which helps in building a stronger connection and increasing chances of closing.

What advice does John offer to new wholesalers just starting with paper-lead services?

John advises new wholesalers to 'babysit' their leads, meaning they should consistently follow up through various channels (calls, texts, emails) to increase their chances of engagement. He also emphasizes understanding when the best time to reach a seller is, which is critical for closing deals effectively.