Short video transcript in which Sam answers whether cold calling works. He argues cold calling is mentally taxing, low-yield, and often better outsourced or replaced with text-broadcasting and targeted lead-gen services; he recommends investing time and money into higher-value activities (e.g., hiring PBCMO for texting/lead gen) and notes his own 24+ years in real estate without making cold calls himself.
Chapters
Depot on the be does cold calling work? I get asked this question every single second of the day. I think here's the truth is the real question is, does cold calling work for you? Let's be honest, cold calling is a very, very intense process. Mentally in your brain, what's going to happen? You have to make thousands of phone calls to get one? Yes. Sometimes hundreds of phone calls to get one. Yes. But if you're not mentally prepared to get rejects, it massive amounts of rejection, yelled at, screamed at, cussed at, hung up on, etc. If you don't know how to harness that emotional aspect of it, cold calling is going to be very tough path for you. Not only that, my question is why would you be doing the cold calling yourself? Takes a lot of time and energy and effort. This is a cool thing that you could simply hire out at a very affordable rate. Hired out. Hand off 100,000 leads to someone and let them cold call your leads for you and then have them send back the warm leads. Invest your time on the right activities to get the right results. Listen, if you don't have the money right now, today to be paying for someone to cold call for you, it might only be $1,500 a month, by the way. But if that's the case, don't get stressed out about it. Just know that there are better ways than cold calling to extract deals. I've been doing real estate investing for over 24 years now and I've never made one cold call myself. To me, cold calling is one of the most unproductive activities as an owner that you could do. What you should be doing is having conversations with people that could implement cold calling and send you. If you're not talking to a real buyer, a real seller, a real investor, real money partner or whatever, you're not in business. You're always going to be struggling. It's always going to be a fight. Not only that, you have family, you have work. Maybe you're still working, trying to transition. You have all these things going on. So now you're trying to figure out how to set up time to make cold calls. This isn't by popular demand, by the way. A lot of people tell you something different because they're trying to sell you cool call scripts and cool call opportunities and all that. I have nothing to sell you, but I'd rather see you spend the money on texting. I'd rather see you spend the money on hiring someone to make these cool calls for you. Invest the money wisely. Invest your time Wisely. Do you think truthfully that you're going to crush your business and elevate it to trillions of dollars a year, billions or hundreds of millions a year by simply you? Cold calling might be a good starting point maybe to get comfortable on the phone a little bit here and there. But the truth is I think it's going to do more harm for most because you're going to get beat up mentally and emotionally. And if you can't harness that, you can't understand what's going on, it's going to affect you when you have an opportunity to talk to a real seller. So in fact the opportunity we have to talk to a real buyer, real investor, a real money partner because you're so cloudy, it's just like mucky and you're like beat up all day. It's like jumping in a ring with Mike Tyson and fighting all day. If you're okay with that, go do it. But it takes a lot of stamina to stay in that ring, to wake up and repeat the process again tomorrow and again and again. And I see a lot of guys out there telling you to keep cold calling. And again, I'm not knocking it, I'm just saying is it the best thing for your time with where you're at today and to where you want to go? It's a choice you got to make. Here's one thing I can tell you over at pbcmo. I use that company every single day to do text broadcasting and to do calling and all this stuff. See pbcmo, push button Chief Marketing officer, that company. What I've done is I just give them the money and let them go out and extract the high quality leads for us and our team. So my team can be productive on the phone. We want our conversion rates way out of the roof. Compared to what your conversion rate with cold calling might be 1%. Maybe that's if you're semidecent. That's if you make it to the 100 plus calls a day. But, and I'm talking connects, not just calls. But what happens is you got to get the high quality leads, start thinking smarter. If you want better results, you gotta ask better questions. You gotta be taking better actions. You gotta know that your time is valuable. But I use pbcmo all the time. If you need a referral, let me know. I can hook you up with the guy runs that company. They're doing our text broadcasting, they're doing lead gen flows for us. They help us out every single day. Generate, they're generating hundreds of leads a day over there and they could do the data poll you know the whole data polling. They could do the text broadcasting. They can help you build your business correctly. This is something that interests you by the way before I get too far ahead of Myself minimum investments 2,500amonth or something like that to make sure that you can actually do real deals if you don't have the 2500. I started off with not having 2500 so I'm talking to myself originally is in but but again technology does not exist like it does now. I would be hustling on social media, Facebook, Instagram and calling every we buy house sign guys that's not cool calling by the way that's saying we buy houses that you warm calling calling a lead that's warm because they already know why you're calling them you know what I mean so please make sure to check it out. Hit me up. Hope that helps. Sam.
