Getting Your First Deal Done + A Tip To Double Your Assignment Fees With Tom Krol

Getting Your First Deal Done + A Tip To Double Your Assignment Fees With Tom Krol

here’s what you have to know you are
going to have gut-check moments this is God’s where the universe’s way of saying
you know are you worthy of the awesome potential
that wholesaling can bring to you hey guys and gals this is trevor with
InvestorCarrort coming at you with another carrot cast and on the care cast we are
always diving in to talk with great entrepreneurs great real estate
investors and great real estate entrepreneurs about what they’re doing in their business
and what they’re doing in their life and we really cross between not just the online
lead generation side which of course we focus on at Carrot mainly on our blog but
this cast this carrot cast is really to talk to you on the bridge entrepreneurs
pull the story out of him pull their why out of them but also pull out some
really really insanely great nuggets that they are using in their business to
grow their business more effectively more efficiently to serve the life that
they want to live so hopefully you guys are enjoying these carrot cast this is
i think number four number five or something like that and I’ve been
wanting to talk to Tom for a while now and Tom before I officially introduced you
soon we dive into the carrot cast its funny man so Facebook you know Facebook
obviously is is the thing that almost everyone checks into you at least once a
day and this is probably five six months ago or something like that and in a form
that i know you’re active in on there I would always see this Tom guy’s name
come up like it seemed like every other day someone was closing a deal with tom
or something happen and Tom showed him how to do it or or whatever was going
this is what is going on this time guy like he’s everywhere and I’ve never
never heard of you before that and in that doesn’t come up often you
know and every time someone would say hey will what wholesaling coach out
there should I talk to is like Tom was the guy that everyone would
mention so you know several months passed and then you and I actually got a
chance to meet in san diego not on purpose we were just at the same event
and we happen to go to the same place for dinner and and there weren’t enough
seats where we were trying to go inside Tom and I were sitting next to each
other dinner and that’s kind of how we had a chance to connect some thankful
for those happenchance circumstances and and then we had a chance to connect
because i was going on right here in my team and not to make you blush but like
you’re the favorite guys i’ve met the past six months is your energy your
positivity it really it really is contagious and that’s one of the things I love about entrepreneurship is
connecting with people who are and want to make that difference in the life in
their life and their family size and other other people’s life and being that
beacon of positivity and possibility like we see in our core value so with
that introduction welcome on the CarrotCast man so
happy to have you thank you I’m so happy to be here that was such a great
introduction I appreciate that i do remember that dinner I remember the fried egg right on top of
a cheeseburger It was delicious i don’t remember
the name of the restaurant and say Diego but I thank you for treating us all the
whole table to dinner thank you very much and absolutely it
was it was great to spend time with you It was great to spend time withyou with your team from
Carrot and it’s uh it’s awesome and CarrotCast i love the name. I love it CarrotCast that’s great, I made it up on the fly on our first step but so little I started like
what am I going to call this thing that And I came up with CarrotCast so and in that way to like I said I mean we we really do want one of my passions
amplifying leaders is finding people who are out there doing great things and how
can we pour that fuel on the fire and help amplify them to make to have them
do a bigger yeah I had them make their bigger impact
and that’s what I really want to do on this call is find the leaders like
yourself and and how can we help you make that bigger impact by sharing your
story by sharing tips with people and spreading out there as far and wide as
we can so as Carrot grows everyone is out there doing amazing things with
their life making impact so CarrotCast it is man that way we can talk about all kinds of
stuff to doesn’t use online lead generation I love it I love it and I would I i love
it because it’s you know if this has been such a blessing in my life in such
a short amount of time so the ability to share with other people and help them
succeed is always a blessing and it’s great and I love doing that so that’s
that’s awesome, so that’s a good segue so I know I I know parts of your
story i’m really interested to hear kind of a little bit more of of that start of
story you know how did you make that transition from the day job work where did you come from and also i would
i’m also very appreciative of the choice to wear your Carrot orange today. absolutely absolutely i love it so oh yeah it’s it’s uh you know it’s the
same story that every wholesaler has right it’s the the the said you know got
fired was bankrupt and and uh The Reader’s Digest version is I was
working at a job i was selling out lawn care and I hated it it was a total nightmare job i live in
florida and it’s hot and I’m sweating and I’m going door-to-door community to
community trying to sell lawn care services. It was a total nightmare I did not enjoy that at all I got fired I went bankrupt I lost all my money and
it was a total nightmare I was able to luckily I had a my brother
Todd was was a wholesaler in California and I called him up he’s my older
brother and I said Todd what should i do what he said “oh this is it you got to
get into wholesaling it’s gonna be great” we’re going to crush it and I said you
know I don’t want to do it i don’t want to do I said time you know you’re in San
Diego and there’s so many houses and they’re so big and you’ re assigments are
so big and I’m a little Port St. Lucie Florida and it’s so small and there’s
not enough houses and you know you know I had all these all these doubts and I
mean he drag me through the mud kicking and screaming the whole time and I was
whining and having pity party’s in a debbie downer but he did give up on me
and I i love him for it because it totally changed my life i did over a
hundred assignments in my first 18 months it’s wholesaling is absolutely i think
the greatest I you know I I the I everybody always
says it’s a real estate I i think it’s it’s not really in real estate I think
it’s more of like in the a pawnshop type of industry but I think it’s amazing I
I love it I enjoy it every day I wake up with energy I wake up on my own I don’t
even alarm clock now I have a new baby at home who’s now I think almost 30 days
old so I he keeps me up a little bit but When you’re in that
mode you just it’s everything is just a blessing and it just it’s there’s so
much abundance that it’s it’s fantastic so I love it and I love sharing with other
people just getting people results and just getting to giving people the
information they need to actually do it and take action and get it done that’s
the key so it’s a it’s it’s been a great journey
and I loved every minute of it that’s amazing man in order and we’re
gonna have a chance to dive in and share a couple amazing tips are working for
you and your business here in a bit I know one of them is how to double your assignment fees and the other one what did you say um how to get to revenue as quickly as
possible if you’re newer investor or yeah ok cool yeah so we’ll go
into those here in a bit but you talk about the energy talk about the passion
and I know for myself I’ve got these little kind of quirky things that i do
to get myself in that mode or to celebrate some of the things i need to
do a lot better job at celebrating some of those wins as well but on the bell
behind you so before we hopped on I asked you I said what I said how often
do you ring that bell cuz sometimes you see things in people’s offices to just
they’re not as a decoration but I can I had a feeling that that was more than
that it’s by your door so it’s not like getting in this corner
it’s not by your window it’s like by your door you gotta walk by it all the
time I assume there’s got to be something
there so i want you can tell what the heck is the bell like this that when you
ring that thing and and and what does it do for you psychologically and
motivational wise for you So I love the victory bill and it’s
hanging right behind me and she said and we were getting almost every day and you
know and this was something actually that came up i I’ve had it now for for
quite a while I started when I went through a book called I 10x by Grant
Cardone and setting big hairy goals and and hitting them and then setting a new
goal right after that a new goal right after that in crushing that goal and
crushing the next goal so we were always ring that victory bell
we get a new contract I’d have the acquisition managers ringing that valid it was amazing and and something
actually where you and I met in person in san diego there was a speaker and I I know his
first name i think was Mike and I can’t think of his last name you might have if
you were sitting in that module but we don’t always talk yeah and he was talking about success
and I really at that conference and this is why it’s so
important to get out there and networking networking networking all the
time and go to these type of events and that was a Kent clothier event he talked
about what is success how do you define it was a victory what’s a goal how do
you set it what you know what’s a good day and I loved his interpretation I now
adopted and i use it which is success is or not and so what we were saying a moment ago
was a success for me is that I get to spend a lot of time with my kids and
really have a real conversation with them I’m bringing that victory belt or if
marketing goes out on time without me having anything to do with it we’re bringing it if an assignments
becomes in were ringing it so there’s all reasons to be there’s
reasons all over the place every day to be grateful and just be thankful and and
ring it because there’s so many things that can make your day a successful and
I know when you’re first starting out its you just want to get that first deal
and I get that but it really starts with an attitude of being grateful and so
we’re bringing that thing every day i’ll bring it before we get off the podcasts
if I need to put it closer to the to the microphone – I can reach it from here but you’ll
get to hear it before we got before you hang up for sure man that’s that’s
that’s one of the really important things you mention any you know when
when when we just start our journey and whatever it is it could be you know
starting a real estate company could be and whatever and you run a marathon and
getting out the running at first running that next one pushing through when he
didn’t want to and that those those little things in life are things that we
need to celebrate like you said it’s not it’s not if I get here then i will be
happy it’s not that at all you know it’s it’s
night it’s it’s being grateful about what you have now and it’s not the
if-then a formula and i read a book it was called how cool it is called
happiness at work or happiness something I met the author down in Costa Rica and
i’m going to completely butchered his name but its sri kumara or something
like that I’ve got the book okay , they come in anyway one thing I took away
from was very similar to what you’re measuring it’s so powerful is too many
people are stuck in the if I hit this or when I hit this goal then I can be happy so it’s if then the SDF
then mindset and I know when I was living like that in in my in my life and
sometimes it’s sometimes I’ll catch myself to going ok I mean that I mean
that – space they need to pull back and let’s do a gratitude check right now and
i absolutely it is so easy to get caught in the the goal you okay I’m not going to be fully
fulfilled and happy to like so I hit that and that’s the opposite of why i
think most of us of us become entrepreneurs is not so we can be it is so we can be free but the thing is
we mentally in prison ourselves with these goals and we’re not gonna be happy
till we get there so that’s huge right there man that the bell the victory bell everyone on the call come up with your
own version of victory victory about whatever it is and celebrate those
little things well you know it’s true it’s a good
point I i actually went out to dinner last night with a client who came he
actually uh you know he came down to see me and we went out to dinner he was
saying you know well I i was saying well you know you’re doing enough business
now you should hire an acquisition manager should hire VA to do your
marketing and we were having that conversation he said well you know he
said well I’m alone I’m so afraid I have so much fear to do that I think a lot of
that is really fear right but I’m that this is really all based in fear this
you know this whole not wanting to you know really have enjoyment or film until
you hit a goal and then not hitting that goal right it’s like a self-imposed
thing to fear here but um you know the real the truth is you can encourage somebody
and you can motivate but the really the truth is there’s a lot of arrogance in
that fear there’s a lot of arrogance because when you’re afraid when you’re
sitting there at a restaurant and you’re eating dinner and you’re healthy and
your children are healthy and you’re married and you have a good marriage and
you’re driving a car you know there are people who are you
know that the truth of the matter is there are things to be afraid of there
are moments where you have to have courage and sending out your marketing
and risking some money to do that are sending out you know getting an
acquisition manager and getting a little bit uncomfortable to have that growth
that is not fear you don’t have the right to be afraid of that that’s not
real fear you’re not sitting god forbid bedside with one of your
children got forbidden and trying to help them through and that’s
really what this comes down to you didn’t come back from Iraq with no legs
and and have that challenge so there are it’s very I think it’s prideful to be
afraid because you you you have to just say what is the worst possible
consequence if I if I have this growth or if I have that victory and you know
what’s the worst thing that’s gonna happen in the reality is when you say
what’s the worst thing is going to happen you’re still going to eat you’re still
going to have a roof over your head you’re still going to have a car and a
wife and a family or whatever your situation is and you know you have to be
careful that because when you’re not grateful it could be you know you have
to kind of fight through that and fight it because those fears only get bigger
and bigger and bigger and I know that you don’t you don’t want God or the
universe or whatever your belief system is to actually give you opportunities to
have courage yeah I’d rather not have that
opportunity so I think if I think it’s really important to look at it also like
you know from that from that angle yeah do that so I I could talk to us up
all the way we might have to have you come back literally just have us talk
about mindset and things like that absolutely and I can talk about all day
so you mentioned after acquisition manager um what what is what is your team look
like right now what did it look like maybe the first
six months of you diving she did you said you did a hundred assignments in
the first 18 months right so right what does it look like now what did it look like maybe in months
six so my out when i first started it was all my fault my team right now is
myself I don’t really I’m very blessed that I
don’t have anything really to do with my whole selling business really at all i
have something called kpi reports which are for anybody who is not charging
stands for key performance indicators they just tell me where the businesses i
look at those on wednesday and friday but the business does run without me
which I am blessed to have I have acquisition managers and I have a
full-time assistant and a full time marketing person the marketing person and the assistant
or overseas and on and that’s all we do is just you know wholesaling is very
very easy people you know I always say wholesaling is easy wholesalers are
complicated if you could just get out of your own
way I mean that you know anybody a child could wholesale anything you could
wholesale a car you know we have to do houses but it’s
really a come and if you put something you know
wholesaling i always say the only education and wholesaling is you find a
motivated seller with equity you put the house under contract and you sell the
contract that’s it you know it’s not rocket science if I could do it anybody could you can i can tell you
that for sure of when i first started it was all great determine turn
determination perseverance getting over all of the you know that all of the gut
check moments and it was just me I had no access to mls and you know this is
this is such a good point because so many people put so many things in front
of their success for wholesaling in front of that deal and they put things
like you know hey where are you added all well i’m working on polio and i’m
almost done six weeks in and and I just have to move this one field to them like
well how many deals have you done like well I haven’t done a deal yet yeah that’s a major problem you know or
they’re designing a logo or they’re designing a business card so i think um
you know for me is it was just me when I first started off I didn’t have I only
had access to zillow for like the first almost full year of my business i didn’t
have access to mls you don’t there’s when when you hit rock bottom and you
know for me when I got fired and claimed bankruptcy my wife was I came home one
day and she was crying in the shower and I you know I heard in the bathroom
crying and she shut the door she was crying and she was worried about you
know the mortgage and paying bills and when you hit that moment all of the logo
and polio and all of that just goes away and now you realize you just have to go
out and do a deal because the truth of the matter is and I know it’s I know
it’s elementary I know it’s amateurish and kind of silly but if someone
kidnapped your children and you had a wholesale a deal to get your kids back
that was the ransom I guarantee you you would wholesale a deal in a week or less probably 72 hours but people they think
they’re not there they’re not in that mindset so it’s like it’s like oh let’s
design a pretty logo and start like a blog about cash to attract a spy ya
later don’t do that I don’t know exactly it’s
in no way and we we running that quite a bit with carrot of course and and of
course we help people generate leads online and and there’s all these little
steps that do you know there’s some things that
that do need to come before you can get some traffic to it right you have to
push a button and launch the site go to attach the domain name and maybe tweaked
up a little bit the content you don’t have to do that and and will we will
find people who are like you said month the other their week for week 6 4 months
3 and and they’re still making adjustments to their website and we
always push him push max – hey but we always go for progress not
perfection and we’re like let’s move through the phases as quick as we can
you can always adjust things as you know you can always add a logo in a month
eight if you want to you can always tweak your content later whatever it is
but it’s I think just looking back on my own journey because I i had done that
exact thing for about a year before actually took action buying my first
property researching and listen that was kind of the the the just in case versus
just-in-time learning process over that phase you for that phrase yeah yeah it’s
like I was loaded learning things just in case I need to know them someday and we instead of learning the thing the next thing that I needed just in
time to use it and not clouding my mind three things three steps ahead and as
soon as i started doing that it got me into that mode where you can catch
momentum you can you can you are starting to knock off those things once
at one at a time instead of stepping on stair – and then trying to jump up the
stereo it’s really hard to make that jump but if you step the stair three and
therefore answer Five you’re there before you know it took less effort it’s just amazing mindset stuff with
that and I think your service is the key i mean that’s the whole the answer is
you know carrot because you don’t you know don’t you what what you when you have the maturity
and the realization as a visionary entrepreneur being creative and and
being at 40,000 feet you start to realize like hey I shouldn’t be figuring
out SEO let’s just go to Trevor he’s already got
tough I mean and it and that’s not like a plug that’s the reality of the
situation it is it is ludicrous to go down and get a book about SEO for
dummies when there’s a service right there that
hasn’t completely done for your service and I think that’s you know you but you
don’t know this stuff when you first started you can you know so and i don’t
mean to be in a you know in a you know I know it’s a little blunt – you know but
you have to sometimes have that realization when you’re when you’re
sitting there trying to do a deal you’re not sure why you’re not doing it in your
playing with polio fields it’s like that’s the reason you know the crm
doesn’t produce the deal so that’s I think you know key to start it and one
thing then we’ll dive into the two tips one thing on that 22 popped in my mind
is oftentimes it’s it’s the low resistance activities that we get stuck
on you know it’s the things that it’s those things that really are easy to do they don’t provide a whole lot of
resistance but we keep on doing them because it’s not this big risk that’s
not this big mental risk we’re taking there’s not much of a risk yeah there’s
not much of a risk to pay our logo guy two hundred bucks to get a logo done but
paying that same two hundred bucks to over 500 bucks or whatever it is to do a
little your first test of a direct mailing piece that’s putting yourself
out there there’s there’s a possibility of failure in someone’s mind there’s no
possibility of failure for that 200 bucks to go to the local guides you know
you’re going to get the logo back and then I don’t think we just have to all
get over is is those little possibilities of failure aren’t you are they aren’t failures
there is a very cliche but it’s kind of like a socket laundry yesterday she used
to do a lot of door-to-door sales and they they’re close ratio is 1 and 30
right and it was kind of a lot well that’s someone look at all my gosh
that’s just totally defeating but when you’re knocking on doors you know that
ever knows getting closer to that next yes kind of thing so failures are not
failures are just another step in the process of getting that person is just
another result in and that is so true about the lowest resistant activity I I
know really thought of it that way but everything that you want is on your the
other side of your comfort zone and that’s like I that is so true that when
you know when you take the time to work on stuff that’s easy and it i think also
a lot of people fall into that trap because entrepreneurs founders and
visionaries have a tendency to be very creative people they’re actually like
very artistic so those projects are very appealing and you could you could deep diving for three weeks
and you know that see the Sun and you know you’re fooling around with like
high-rise fields or whatever it is it you know it’s it’s ludicrous so it’s uh
but when you you know that’s why I think so many so many good wholesalers have
hit rock bottom because when you hit rock bottom it’s like don’t that’s it hits we got to
get a deal it’s like there’s no other quick or I’m
gonna die dude so it’s just really good transition
. so one of the things that you’re known for of course is helping people get
their first deal done really effectively and of course you’ve done a lot of deals
and you can you can show people have a scale and how to automate their business
and step out of it and things like that but we’re going to talk about two things
today – quick tip so one of them is going to be getting to revenue as
quickly as possible if you’re newer and then the next thing
is going to be how do you double your signup fees if you’ve already got some
deals coming in so let’s start with getting the revenue if someone was brand
new or maybe they’ve done their first deal
but then it’s been a little while since they were able to get that next one
they’re starting to think she was that a fluke you know is this harder than I thought
it was going to be or they just haven’t got the first deal what would you tell
them to do if you see if they’re saying they’re in your office and they were in
that situation where you knew that they were going to take action they had they
maybe we’re at their rock bottom are there was ready to make it happen what are the things you tell me to do so
this is Sookie I think that here’s the bottom line the first thing
you have to do is you have to start with a proven system there’s no question
about that you have to find a way to do it alright so the first thing you have
to do is identify some way that it’s been done before you and have that
roadmap um and then what you have to realize is
that once you pick a roadmap that you’re going to follow and this is not the time
to be a trailblazer this is not the time to be the founder
or entrepreneur visionary this is the time to be the follower and to find a
road map that’s already proven don’t reinvent the wheel is the number one
piece of advice um because as entrepreneurs right what’s
the first thing i did Oh Todd told me to use this postcard you
know what I don’t like this one thing let me just scratch this off I’m going
to change it I mean now looking back Ludacris don’t
change the postcard what do we fight so if it’s on first you
gotta find the way that the map as soon as you did that um here’s the deal when you start the
whole selling if anyone is out there and they’re listening in there listening to
this in there they’re just getting started here’s what
you have to know you are going to have got check moments this is God’s where
the universe’s way of saying you know are you worthy of the awesome potential
that wholesaling can bring to you we call these got check moments that
these hurdles are the 3 d’s the first one you’re going to have to deal with is
doubt doubt is going to come up and it’s going to be all that like childhood
doubt like are you worthy are you good enough for you good looking enough are you you know they can do it but can
you do it and um that’s going to be something
that’s going to definitely come up to try to hinder your ability to do this
because really again wholesale inc is very easy whole set of complicated
there’s nothing hard about wholesaling so it’s just getting out of your own way so doubts the first one second one
without is the other kind of doubt you have his territory doubt right this is
the same thing everybody who comes into wholesaling if you’re in a big city you’re like all the people in the small
towns are so lucky there’s no competition in denton and then the
people in the small towns are like all the people in a big city or so look at
this more houses and the assignment fees are bigger so you have territory down on
and then you’re going to have doubt about wholesaling itself especially if
you haven’t done a deal yet you know so people say well you know I
you know time I don’t even understand this why would someone ever pay why would
someone ever sell their home for pennies on the dollar when they can just call the real estate
agent and get full price and you know it it takes time to understand as a
wholesaler what your services actually are because a lot of people get into it
and they they don’t really understand what the services are the whole sellers I’m have to offer so the first d is
doubt you’ve got to get over as soon as you get over doubt the second one is
disappointment right and i know and i know Trevor you know if you’re in real
estate investing in any niche of real estate investing wholesale you’re not
you’re gonna have tons of disappointment and I’m just like you were saying with
the nose it takes 30 knows to get a yes in wholesaling it’s more like a hundred still so on there’s gonna be tons of
disappointment there’s gonna be sellers who are there is going to be sellers who
are going to want to pull out of deals in there there’s gonna be agents who are telling
you that it’s not legal to wholesale and there’s all kinds of those hurdles that
are going to be coming up against you and then the last one of course the last
hurdle Alaska check moment that you have to get over is distraction this is this
is definitely the stage 4 terminal killer which is on a distraction can be
as soon as you start your journey you have a personal distraction where you have to stop and you have to
go out of town or something happens it could be it could be the one where it’s
like you’re really not comfortable taking action until you know so you get into the tailspin of
Education which is they called analysis paralysis right this one’s like it this is a killer like a total killer of
new wholesalers and a pop OH another popular attraction to shiny
object syndrome which I’m still guilty of you know you know or don’t wholesale
you should flip bulk REO deals you can make more money and less time it’s like
oh that’s great tell me more about that just like it was
like don’t go anywhere yet it’s like we haven’t even done what do
yet so of so what I always encourage people do is the first thing is when
you’re getting started and you have these hurdles you have these gut-check
moments the first thing you’ve got to do is just
pause for a moment recognize that this is a hurdle recognize it for what it is
and then the second thing i always recommend to do is you have to deal with
it so get a little egg timer set for three
minutes you can have a little pity party you can
out you don’t blame me blame yourself blame your spouse blame your you know
kids bring your high school coach it doesn’t matter who you’re playing but
what I can tell you for sure is that it is in those moments of frustration where
you are going to find your greatness it’s in those moments of losing heart
where you are going to have success so I really want to encourage anybody who’s
just starting that when you are having these things come up against you’ve got
to make it happen it’s that is right at that moment when
you’re so close to you’ve got a double down you gotta you gotta you gotta punch
the gas and not pump the brake you’ve got to make that next phone call book
that next appointment send that next offer because it’s right at that moment
where you’re you’re just about to make it happen and you don’t want to quit
right then mhm so that would be my best advice for
her for new people who are just kind of just right out of the gate and they want
to go right to revenue man in the crazy thing is you talk about pushing through you know when it’s getting really hard
that’s the point whenever people ask me what’s the number one difference between
someone who succeeds in X and fails and acts and usually it’s not their
knowledge it’s not smart there it’s usually not the resources it’s usually that they stopped before
the other person then absolutely other person kept going when I got hard and they and they they
continued with the mindset of you know it’s if it’s not it’s not if it’s when
this happens it’s not F and that was kind of like me to where I am when I got
out of college I moved up to Portland the first year I was like I’m it’s not
going to get a job and you can try to figure this thing out and it was tough
but the one thing that carried me through as I knew it was gonna happen I had the confidence of just good people
around mean I just felt that it was going to happen i had no clue how her
when and as soon as I switched my mindset from oh my gosh it you know is
this ever going to work here is the and I wonder if this is gonna work kind of
thing – it’s not if but when that’s the only
variable is time is time and how and that’s it and soon as I made that mindset shift
managers like you feel really empowered and you’re not going to stop because
there’s no wraps a lot because you know you’re going to get it it just happens gotta find out how and
figure out how long something I love it it’s so true it’s so easy but it’s so
harsh it is big time so on other yet the is
before we dive into how to double your sign if you’ve got one quick question I’m so at the start you talked about
finding that path finding the proven path finding something that’s work
before you and some people may be on will shoot you know I’m what is that
thing now there isn’t one magic bullet i know people like you who do a lot of
direct mail it’s working insanely well and you’re probably doing some other
things too I know people who just do online stuff
and it’s working very well i know people who there’s a guy
here in organ who’s crushing with bandit signs like literally driving here in
Roseburg Oregon which is a small town he lives in a completely different town he has two to three types of bandit
signs out at any given time different phone numbers they look completely
different and he says people scattering the state
with these things and he’s crushed on you in 10 deals a month so that the the
I think if people are coming on this call looking for send out this exact postcard
to this exact list and do this and do that and have this person answer and say
this that that’s not really what you guys need you guys need to find someone or
something that has that system that is proven and just plug into that whatever
it is whatever it is it’s going to work out your market doesn’t have to be if
someone listens to Tom same direct mail is crushing it direct mail my crush it for you give
that a go work for Tom worker someone who has that system I’m fine what it is it’s right for you
and then as you perfect that then you stack on the other things to scale but
what is if you have the name your top two or three things for you just broad basis what is it that’s
bringing in your deals now marketing wise is so so here’s the secret right –
this answer is that the real answer is that it for an alltel I’ll definitely
tell you what – but the answer is what you just said about bandit signs where
you said you drive everywhere and you just see his bandit signs everywhere he
has three variations right so the real answer here is that when you do your
marketing whatever marketing channel you choose you cannot in this is if you ask people
if you ask ten people who are not doing deals and you ask ten people who are
you’re going to get exactly that same response which is this the people who
are not doing deals are very few deals on that income roller coaster they are doing a little bit of a lot of
different channels like what did you do today well I put out 20 bandit signs and
i also called called craigslist and i also did this and i also did that and i
hand wrote 20 letters so my advice is whatever marketing
channel you choose you have got to be number one if you
choose bandit signs you’ve got to go to the dumpster if you
don’t have any money and you gotta get cardboard signs and you have got to make so many bandit signs that you don’t even
get a fine you go straight directly to jail because you put out so many you
actually got put into prison because you can’t dip your toe in the water you
gotta jump all in you’ve got to be the guy so for
me it was when i started and still is today I’m you could take away some of my
channels but direct mail has definitely been my number one channel some of the
list that I like our equity list I like tax delinquent list i love code
violation list there’s a whole different sequence that we do for code violations we like a rest record lists we like a
hug you know there’s all sorts of list that we like and we have about ten list
that we use in a side of our tribe but the bottom line is whatever marketing
piece you use you’ve got to be number one in that marketing piece it for that
marketing piece in that channel and then this way you’re going to get the deals so I’m it a lot of that is is is is
either seasonal or out too . territorial it depends on where you r 2g and based
on geography or is based on your budget yeah but we like direct mail for sure is
is you know what might you know our main ones for sure I love and I’ll recap that and we’re
diving to tip 2 which is how to double your assignment be sold on the recap on
on that the big takeaway here guys gals this is not just for new investors and
what Thomas mentioned there this is for anyone who wants to do
better and scale the business as well is do more of that marketing that’s working
or even if even if it’s not working remember when we were in san diego you
mentioned that you know year or two ago that you guys were able to send out at
may not be using the exact numbers but let’s say a thousand postcards to get X
amount of deals or leads right write letters or whatever he was doing
and now you’re sending out like five thousand to get an equal amount and of
course the markets change but what will see a lot of people doing we see the same thing on on señor
pay-per-click where as markets change people have shoot i’m getting fewer
leads now with my same pay-per-click budget this must not be working as well i’m
going to stop it when you’re not going on you direct mail is not working is going to
stop it you go let me wrap it up I mean absolutely BAM yeah dad you know
it I don’t know that so that’s that’s a
huge takeaway for anyone doing any kind of marketing is as you hit those walls
markets shift ok it may not be your marketing may not
even be that there’s so many other wholesalers in the market it could be that the market shift and it
became a seller’s market or no sellers or are able to list and get 10 above
above asking price offers and it makes it so so the we buy houses that message
may not resonate to as many people who knows who knows what is that the market
shifted you have to double down do more of that thing and crack the same thing
with paper because we had a an email that came through just yesterday Brandon
on our team was managed these guys pay per click in New Orleans and the guy
double down on that ramp it up and you closed two deals he said in the past you see my name is within the past for
six weeks I the net in 40k I’m like okay 40k so that’s a that’s on paint that’s
on pay per click or an SEO on pay per click in New Orleans so well yeah exactly i mean I i was looking at
him that’s the stuff that we love to see but the huge key there a huge key there
is someone else on a different market looking at the gods because he’s in New
Orleans it’s working now it’s because he doubled down and didn’t skimp on budget
he’s like I’m gonna I’m not gonna try pay-per-click i’m going to do pay per
click you know I’m work so the morning a week
we got a ring that victory bell for that you’re ready to do it all right let’s do
it here we go – yeah I love it love it there is that beautiful victory bell i
love it that’s a maybe we need a Honor we need to get a victory bell in here absolutely absolutely like it get a big
one I like a figure that I love it but
that’s that’s awesome that is also known as yeah good stuff so let’s dive into w your sign feet and
then we’ll wrap ups and I’m running a little bit over time here but I dude
it’s this conversation has been awesome so I kept want to dive anything w
assignment be so someone is doing some deals and they want to scale the
business up there are several ways to scale any business up right there is to
sell more of that thing to the same person there’s some other things the
same person increase your margins so what we’re talking about here with
increasing your margins how do you double your sign the peace
how to increase insulting the good news is this is like no fluff no BS so
everybody should get out of the paper because i’m going to give you
actual tips and tricks to do this right now that it will work today I’m going to
tell you two ways that you can do it is very easy on that are going to actually
at the minimum double button we’ve had people who have now tripled and
quadrupled their assignment fees for this so the biggest tragedy trevor is as a
wholesaler we work so hard to find these deals and then we just give them away to
are cash buyers right we just like give them away and I’m very frequently to the
wrong people um and so we’re working harder and
harder to find these deals and then we’re just giving away and we call that
are trying to recall that being a CBE which is fire employee so what you’ve done is you you know you
quit your job and you just became a CBE which is like okay now i’m just going to
work for a handful of cash buyers and that is wrong and we don’t allow it in
our tribe no see bees allowed so on there’s there’s the way to think about
this is this if your wholesale right now in your wholesaling pretend that you
have a PA in your back pocket you walk into a room and there’s three
tables at the first table you have a landlord and this landlord she dies
every chance every property in town and she’s been learning for 25 years and she
knows that she is what a lot of wholesalers would call like a proven
buyer which scares the heck out of me that’s the first one the second one
would be a rehabber who is like the biggest rehabber in town he’s got he’s
is be rehabs two hundred properties a year he’s good guy right proven buyer and then you have john and
Sally Smith and they’re buying their first investment property through a real
estate agent my question for you is who do you think
is going to pay you the most money for that purchase agreement that’s the question and obviously you
know the answer is the agent with the with the new cash by ourselves the bottom line is is that your cash
buyers should look act feel taste touch and sound exactly like your sellers are
motivated sellers motivated sellers have certain things in common so do the best cash buyers are motivated
sellers they are number one they don’t have usually a lot
of cash or kind of in a pinch and they need to make a fast decision they don’t normally have a tremendous
amount of real estate expertise and knowledge and they are usually in a very
up there in a time of position so our services if you know what your services
are as a wholesaler you can service those people it’s exactly the same as a pawn shop why
does somebody bring a Rolex to a pawn shop instead of putting it on ebay and
waiting two weeks it’s the exact same scenario so with
that in mind and knowing that that your highest paying cash buyer is going to be
the new investor who is i’m using up on agent the first thing that you have to do is
you have to see you have to find cash buyers who look like you’re motivated
sellers number one they don’t have a ton of cash
so usually people who are buying their first investment property uh they’re usually buying it through an
agent and they’re usually borrowing the money from like a father grandfather
mother sister whoever it is or there is a group of people so the first thing that you should do is
get as many agents on your cash buyer list as possible just remember this make
a big sign put it above your desk the highest paying cash buyers come
through real estate agent signs number one the second the second rule is
that they need two are they need to I not have they need to be on time line
and and this is the key um we developed a system and you could
create one which is we force our buyers to play by our rules we do not work for
the cash buyer so we force them to bid on our on our purchase agreement if you
want to get in our property then if you want to get our our purchase
agreement then you need to bid on our purchase agreement we don’t just take a
price and start negotiating that we all stop negotiate on that purchase
agreement when we have assigned assignment and um and a non-refundable
deposit so how do we recreate the scenario on the front end the same way
we do on the back end number one we the always remember this
and this is another sign that that if you’re listening to this you should make
the wholesaler with the biggest and the most responsive cash buyer list wins so have the biggest gnarliest most
responsive cash fire list in the world in your whole case do you have the biggest one so
constantly be building that list and then a ton of real estate agents and
brokers on that list and then make your buyers bid on that purchase agreement stop just bringing a deal and and and
saying hey John you know what do you think you can give me for this deal
because now you’re a cash buyer employer or CBE which we don’t want to do because
that produces a job and that’s we’re here to be older is not not have you not
sit in a cubicle again yeah and in your doing it that way –
you’re doing it where you know you only have two three four cash buyers are
sending all your deals – you’re you’re you’re really doing it the way that they
want you to do it for sure because they don’t want the competition and have
something that was like a spy would like to just send them all to me first and
i’ll pay a little bit more come get them first but my little bit
mother is nowhere near as much as when we create demand for like you guys are
doing you walk into a real meeting and those
guys are patting you on the back and they’re like oh this is Tom he’s my guy
he breaks me all my deals and he’s smiling ear to ear you are losing a lot of money a lot of
money yeah absolutely that’s funny well feel
manly those tips are amazing so hopefully people wrote wrote down some
notes whether you’re listening to this on the
podcast for watching the video and and Tom how can people learn more from how
can we find out you have an amazing podcast your great content where can
people find it yeah so we have a website called
wholesaling think it’s a www . wholesaling I NC com we have a podcast that’s focused on
wholesaling where we interview our tribe members talk about the deals no fluff no BS just straight information
for wholesaling revenue and how to produce it and get it quick and keep it
so on yeah absolutely check us out on
wholesaling in common and I yeah we love that we love to like you some awesome
information one last question were one last question
for before we go so I know with with carrot one of the things that makes it
really fulfilling for me to grow our company and to want to continue to grow
it and it’s not the revenue it’s not the finances right there’s got to be this
why behind what you’re doing and I think oye shifts and changes the wife to start
is to get out of bankruptcy as an example or it’s the it’s a that money in the bank so you
guys don’t have to worry about the money what if you don’t let me put me on the
spot what is it right now that’s hitting you in your gut that it’s like in a good
way that this is your why this is why you keep on doing more deals this is why
you are doing this podcast like why are you taking this 35 minutes we’ve only
call away from your brand new baby and wife and getting your message out there
you know it’s so funny when I am I when I first started wholesale in my very
first month I i went to Atlanta and Todd my brother paid for me to go and I was a
Sean Terry conference in atlanta and i met some amazing people there i met
people are still friends with today like nasser a library from on North Carolina
and just other amazing individuals that I’m still friends with today lewis and
you know I remember when Sean Terry started the conference he was he was
talking about his why I like what you’re why what’s your why and I was like oh my
goodness what is he talking about like bro I need to make money like I am
totally broke i don’t have time for a wide right now and I remember thinking
that it’s so funny because you know when i was there when I was there I three
different people within a 14 hour . recommended this book to me called the
four spiritual laws of prosperity which in my tribe is now required reading
you’ve got to read it it’s not it’s uh it’s required but um and I remember that
people were talking about tithing and and you know giving back and things like
that and that from that point to today i will tell you that my why is and it may
be silly to some people but i can tell you i want to be the number one largest
give her in my church that is my wife so I’m going to bust my butt to do it that
is my driving force um I will tell you that as a you know
and and I know it’s like it sounds a little crazy but i will tell you that
for me personally I’m a Christian and tiding has really increased my faith and
it is such a awesome feeling right like you no doubting Thomas right
so it’s an appropriate my name is Thomas but of you know this whole idea of
tithing and then you know when you have an abundance mindset instead of a
scarcity mindset and you give and give and give and then you give more and more
and it’s like my cup just keeps flowing over and over and I’m like I love it so I just want to like give it give it
give it give it give it like i love the book the giver i love the four spiritual
laws of prosperity I think you know it’s one thing i thought it was like a bunch
of fluff and bs when I first heard sean talk about it but sean is so blessed and
you know having that introduction i first got started and like meeting those
people who are awesome you know charitable and tithing and
giving people um this whole journey for me has not been about the money in the
finances it’s been about meeting amazing people people like you to offer people
like tribe members we have like I mean just amazing people like people who like
they come from like they go with the debt and now they’re like making you
know twenty fourteen eighty thousand dollars per month I mean it’s incredible i love it so i
think that that’s really that’s my number 1 goal right now is that that’s
where that’s where we’re going towards i started man i love it I love it I’d like to send all of your energy keep
keep that going dude and and be that beacon of positivity possibility for you
and your tribe in your family in your church and everyone around you so thanks
Tom for for coming on the call of duty as a really great call i know people got
a lot out of it from new investors to people want to scale up any parting
words before we go just make it happen and that’s if I have
one parting word for anybody who’s just starting or they want to get off the
roller coaster have a business that’s automated fear is arrogance and pride
make it happen do it as if and I know it sounds silly
and elementary but do it as if you’re paying the ransom to get a loved one
back and I and I know that sounds silly but if you put yourself in that mindset I couldn’t fly to your city and stop you
from doing a deal if I tried so it’s really just understand this is a
mindset problems is not a whole selling problems is not an information problem this is it just getting out there and
make it happen problem i love it Tom Thank You Man for hopping on and
everyone I thank you for joining us on this carrot cast and go out there and
take action go out there and whatever to scale up your business start your this go out there and spread whatever it
is that you’re passionate about the other people with the business as your
platform and be that beacon of positivity possibility in your community
your life whatever is you care about so thank you guys have an amazing what you
can thanks yeah

31 thoughts on “Getting Your First Deal Done + A Tip To Double Your Assignment Fees With Tom Krol

  1. Bringing It Local. Thank you.

  2. Hi, new investor here. Great video! What is paper click?

  3. It is paid advertising. Pay-per-click

  4. I like the talk about "positive mindset" and overcoming the fear of things like spending money on marketing. Those things are real obstacles to any new entrepreneurs.

  5. Superb podcast. The bit about taking the mindset that you have to get a deal done as ransom for your kidnapped children is priceless. What a great way to create the urgency you need to maintain focus! Love it!

  6. Awesome info!

  7. He might be down to earth,but he's just like all the others – trying to sell you something. Don't do it, he got my cuz. Everyone is trying to do this, deals aren't there. You will be on your own, my cuz is out of 1000 dollars a month and nothing. Cause she got the money from me and can't pay me back. People fall prey and people like this is around the corner. This stuff is on the internet for free.

  8. hey, thank you for this. super helpful. i'm having a good hunch my first deal will be in the next few days. Cheers and thank you for doing what you do.

  9. I have the list of all cash buyers in the United States. I'm charging 75$ for each county. Please contact me as I will send you 2 for free to prove my worth to you. After that 75$ per request. These are cash buyers in the past 6 months these are hot buyers right NOW

  10. As always solid advice. Thank you

  11. Love it! Arrogance in fear…

  12. Pro tip: When conducting an interview, let the guest talk. You learn more when you listen.

  13. GREAT ENERGY Tom !

  14. So I was at my cousin's birthday party and started talking to a man who lived a couple houses down the street. He told me that the house next door is owned by a man who is retiring soon and wants to sell his house. He told me that the house is in very bad shape and needs a lot of work. It is in a great neighborhood.
    I never wholesaled before and don't know what I'm doing. So could someone tell me if I should pursue this house and how I should go about doing it. Thank you.

  15. Glory to God Tom Love it

  16. Hello. How can I find Tom's info?

  17. Thank you Trevor!

  18. Love it!! Awesome energy

  19. Great guy. Love his passion and love for what his does. Can you be my mentor please 🙏🏻

  20. anybody in the baton rouge area wholesale?

  21. Great information. Thank you so much!

  22. Hey Tom!

    How can I be on your list as a cash buyer?

  23. "As soon as I made that mind set shift" powerful powerful statement Trevor!!
    Not if,,, but when..

  24. I really like you, Tom! You are truly a gift to me and to anyone in this business! I was feeling a little sad about being in wholesaling for 8 months now and with no deals. I have a few handicaps like having no car to get around and having no money to do the mailings and bandit signs like most people can do. Your talk helped remind me to be thankful for the talents God has given me, by the way which actually goes great with this business, and for my work situation. I"m grateful to God for this opportunity. I actually work from home and have been doing so for 18 years now. I have the time to do a lot of this wholesaling work during the time when most people are working outside their home. I'll end by saying, my cup is "half full" and I am counting my blessings as I push forward to my 1st deal! I know it's coming! Thanks for your inspiration. I"ll be checking out your YouTube videos on a regular basis.

  25. How to double your assignment fees, starts at 36:50

  26. So how does this actually work I have watched a ton of videos and know how to fill out the assignment contract..but what do I do now?

  27. Can you wholesale a Condo effectively?

  28. Truth punch to the gut. Fear tied to arrogance. Thank you!

  29. Tom, Love Volune of Mic !!
    Wish Everyone Did the same

  30. Loved this interview with you Tom! My first time visually seeing and listening to you aside from reading your messages in my emails…Nice jewels💎 & inspirational motivation you dropped..💎💎

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