Hello, I’m Danny Johnson, the founder of REImobile.
My wife and I have been flipping houses for over 11 years in San Antonio, TX.
I used to end up with stacks of MLS listings on my desk. By the time I got around to actually analyzing them or following up with them, they’d be already under contract...ugh...super frustrating. I lost out on a ton of deals because of this!
When I would find out how much each one sold for, I’d get that sinking feeling in my gut that I missed out again because of being unorganized.
We were also doing a lot of motivated seller marketing. This was our primary source of leads and deals. I’d put out bandit signs, send out letters to owners of vacant houses found driving for dollars, put ads in the local papers, etc.
We would get quite a few leads and I would write them down in my handy dandy notebook when I got a call. I would go and visit the house and write down the list of repairs that I would need to make to the place... The thing is, most times I was in a hurry and just jotted them down along with my analysis for the deal on the current day’s notebook page instead of with the lead information entered days (pages) earlier. The information wasn't organized!
Most of the time, the offers were rejected.
It didn’t take long to realize that I was losing out on an insane amount of deals because I simply didn’t follow up.
I tried to make a note several pages (days) later in the notebook to call and check to see if the sellers had changed their minds. But I usually couldn’t find all the information about the lead that I had analyzed and couldn’t remember how much I had offered or whether I could go up on my offer at all.
WHAT A NIGHTMARE!
After being in the business long enough, I began to realize that most deals are bought after following up...not while making the initial offer.
How many deals and how much money did I lose out on during those early years because I was so disorganized? I cringe when I think about it.
Not only was I losing out on deals, I wasn’t being smart with my marketing. I knew how much I had spent on each form of marketing...roughly (and only thanks to my lovely wife keeping track of the books), but I didn’t know for sure how many leads each marketing source was producing.
I had trouble keeping track of what the cost per lead and cost per deal of each type of marketing was. (You are keeping track of these numbers right? If not, you really need to start.)
A perfect example was the billboard campaign I did one year. I had 15 billboards throughout town in decent locations (be sure to check before accepting the ones they give you :)). The billboards generated a good amount of leads and I almost continued using them for a couple more years...but I stopped and thought about how many deals I had done that had come from the billboards. Not very many...and they were expensive.
So the cost per lead was decent, but the cost per deal was horrible.
As we did more and more marketing, I soon had trouble keeping track of the cost per lead and cost per deal and was just guessing at which marketing to continue and expand and which to give up on.
Keeping track of all the things I had to do and when was becoming impossible. It really started to feel like I had escaped my old job to flip houses, but ended up just creating a new job for myself.
Fast forward to just a couple years ago, when I finally realized the power in having other people on my team to do the time consuming stuff. What a huge improvement...but it wasn’t all cake and ice cream...
The problem soon became how to coordinate efficiently with my team. We had a hard time knowing where we were at with each lead and who was working which lead.
The benefit I had was that I was a software developer before flipping houses. So, I did the most logical thing, created my own custom software system to keep track of all of this stuff for me and allow me to coordinate with my team.
I’ve been working on this software for years and have finally decided to polish it and add awesome new features to allow anybody to use it, no matter how good they are with technology. I also wanted to make it accessible on smartphones and tablets so that you can access your data no matter where you are (as long as you have an internet connection).
It's time you got a system for your house flipping business that allows you to truly have the freedom you set out to achieve.Sign up now