Cold calling often gets a negative perception in real estate, but for those who master it, it becomes a game-changing tool for generating leads and securing deals. Travis Goodwin, a successful real estate investor, has turned cold calling into one of his most effective strategies for building connections and closing transactions.
In this blog, we’ll explore the powerful tips, strategies, and systems that helped Travis transform this intimidating practice into a proven path to success. Whether you're new to cold calling or looking to sharpen your skills, these insights will help you turn every call into an opportunity..
The Power of Numbers: Why Volume Matters
In real estate, numbers tell the story. Travis shared that he made 700 calls, resulting in nine hot leads and the potential for multiple deals. This kind of data-driven approach can help beginners avoid the pitfall of feeling discouraged too early in their journey.
"That math helps beginners make sure they're doing enough calls, enough appointments before they feel discouraged and quit too soon."
Travis’s Top Cold Calling Strategies
Travis emphasizes the importance of using the right tools and systems. He utilizes DealMachine to streamline his process, achieving a remarkable 25% connection rate.
- Dig Deeper: When calling, if someone says they're not the owner, ask questions like, "Who are you then? How are you associated with this address?" Often, property renters or other contacts can lead you to the owner.
- Forward Calls Professionally: Make sure calls are forwarded to your phone and always answer, even if you don't know who is calling. Keep the conversation friendly and inquire if it involves real estate.
- Emotional Connections: Aim to ask questions that evoke emotional responses rather than just intellectual ones. Understanding the personal stories of homeowners can strengthen your connection and increase the likelihood of closing a deal.
Exploring the BRRRR Strategy
Travis also leverages the BRRRR strategy—Buy, Renovate, Rent, Refinance, and Repeat—to maximize his returns. While wholesale real estate offers quick cash flow, BRRRR provides larger long-term profits for those willing to play the long game.
Comparing Strategies
- Wholesale Transactions: Quick cash flow with smaller margins.
- BRRRR Strategy: Larger profits, requiring patience and a strategic plan.
Leveraging Auctions to Boost Sales
Travis has found success by collaborating with auctioneers, putting properties up for competitive bidding. His unique approach generates nationwide interest and higher selling prices.
"I've been supplying the auction with houses. Instead of digging for gold, supply the shovel."
How It Works
- Properties are listed on the MLS with a designated auction date.
- High interest and competitive bidding often lead to impressive selling prices.
- The 10% buyer's premium model ensures serious bids and provides security for Travis.
Real Estate Success Is Built on Relationships
Success in real estate is heavily reliant on networks and relationships. Travis's relationship with his auctioneer demonstrates the importance of trust and cooperation. A strong network can provide valuable insights and increase opportunities.
Real Estate is a Long Game
Newcomers to the real estate industry must remain resilient. It takes persistence, numerous appointments, and analysis to secure deals. By understanding that it may take several attempts to close a deal, aspiring investors can maintain motivation.
Conclusion
Travis’s success story proves that cold calling, when paired with persistence, strategy, and the right tools, can unlock incredible opportunities in real estate. By understanding the importance of volume, making emotional connections, and leveraging methods like auctions and the BRRRR strategy, aspiring investors can set themselves apart from the competition.
Cold calling isn’t just about dialing numbers—it’s about building relationships, asking the right questions, and staying resilient in the face of challenges. Take a page from Travis’s playbook: adopt these strategies, remain consistent, and keep refining your approach. Success in real estate starts with a single call, and your next big deal could be just one conversation away.
