Table of Contents - Finding Motivated Sellers on Facebook with Paul Duncan
Dave Debeau [00:00:09] Everyone, this Dave Debeau with another episode of the Property Province Real Estate podcast today, my guest is Paul Duncan, calling in all the way from beautiful Fort McMurray, Alberta. How are you doing today, Paul?
Paul Duncan [00:00:22] I'm good, thanks. It's beautiful. It's also very cold. But that's what happens when you're in the north.
Dave Debeau [00:00:26] So that's what happens when you're in the north. Exactly. So, folks, if you're not familiar with Fort McMurray, it's in definitely in northern Alberta. It's where most of the oil is or a good chunk of it, that's for sure. And Paul is a very experienced real estate entrepreneur. He's been investing for over nine years. And what he's really Dalven that I really want to talk to about here today is online marketing to find deals, to find motivated sellers, to skip the whole wheelchair thing and go direct to the source and be talking with people about buying their property. So, Paul, glad to have you on the call.
Paul Duncan [00:01:07] Thanks a lot, man. Yes, I appreciate the invite.
Dave Debeau [00:01:10] So before we jump into all the nerdy marketing stuff that you and I love so much, why don't you tell us a little bit about your background, how you got involved in real estate investing in the first place?
Paul Duncan [00:01:21] Yeah, totally. For sure. So my journey nine years ago started when a few years after high school, I started becoming an automotive mechanic. So I was doing the apprenticeship there. After a while, I just kind of thought to myself, this was not really the path I wanted to go down. I didn't want to be tied to a schedule and pretty much be owned by a boss. That wasn't what I wanted. I wanted freedom, travel, that sort of thing. So I started looking for different things. And I actually found a flier in the mail, which, you know, Daryn, weeks, all of his events.
Dave Debeau [00:01:51] I might have been the marketing guy behind that flier.
Paul Duncan [00:01:55] Probably. Yeah, for sure. That's funny. Yeah. So the marketing worked and I went to the hotel to just check it out. I was super nervous because everyone was there. It was older, in nice suits, and I was just this young guy not knowing what the heck I was doing, got there and there. And we said, hey, you can buy properties, you can put tenants in and get something called cash flow. And I was just blown away, like to me at that time was amazing. So immediately after I went home from that event, adrenaline rush, everything started working towards buying a house. A couple of months later, I bought my first property where I moved into the basement, rented out the upstairs and ended up actually living completely for free. So that was a really cool first experience, kept buying properties from there. But what happened was the price of oil crashed and I had to make some changes. I had to get serious about who I was as an entrepreneur and how to actually generate cash flow, generate revenue, that sort of thing. And so that led me down a path of finding leads, working on being a professional salesperson and. Yeah, exactly, making sales. So that's what kind of brought me to where I am today, which is now I run a lead generation agency specifically to work with real estate investors to generate things like motivated sellers, turnkey buyers or even raise capital.
Dave Debeau [00:03:10] So very, very cool. So that's quite the transition. And first of all, hats off to you. You figured that out at a very young age. A lot of people only clue into the fact that they really don't like punching a clock when they're in their forties. So you skipped ahead of the curve there. And quite a transition going from an automotive mechanic to an Internet marketing guy that focuses on real estate. That's quite a transition.
Paul Duncan [00:03:34] Yeah, totally. Yeah. You wouldn't expect that at all. But it just I don't know. I just gravitated toward it. I mean, first I gravitated towards the real estate. I think I gravitated towards real estate because my mom had a rental property and it just kind of clicked in my head. That's how that works. Right. And then from there, I had a friend who was already diving into the online marketing stuff. And I got curious and just kept going. And eventually, you know, some people game like on their Xbox for fun. Eventually I was at the point where I was like building landing pages for fun. So it's just what I gravitated towards.
Dave Debeau [00:04:06] Very, very, very cool. So let's talk a little bit about that, Paul. So first of all, for folks out there that are just getting into real estate investing, perhaps they bought their first deal or two. They went through a realtor or they looked around on the MLS or maybe they called some for sale by owner sellers or something like that. They got the first property or two under under their belts, but they haven't done a lot of deals. Why don't you explain in your words why you think finding your own leads is so important or getting your own needs is so important?
Paul Duncan [00:04:41] Yeah, the biggest thing behind that is because I started like that where just bought properties off the MLS and learning my lessons through this economy. You really see why that's valuable? You don't see the value until five or ten years later when you go through the economic cycle and you understand why you need to make money when you buy and you make money when you buy by finding a really good deal where there's a gap between the appraised value and what you're purchasing it for. And if you have a good gap there, whether it was. Discount, yeah, a discount, so if you're doing that, yeah, that's a good gap there, then, for example, if you're doing it as a long term rental, it's important because in the downturn, when things go down, it means if you did your numbers right, you can still cash flow. You make sure you're not underwater and you stay away from the fear of the bankruptcy because in the market that I'm in, that's a really real thing.
Dave Debeau [00:05:32] And so 10 years ago, I think there's lots of deals to be had in Fort McMurray right about now.
Paul Duncan [00:05:37] Yeah. If you're looking to buy now.
Dave Debeau [00:05:40] I've heard that's happened. Like some of those property values have dropped by as much as 50 percent. It's been pretty drastic, that's for sure.
Paul Duncan [00:05:48] Yeah. I mean, I hear the I mean, back in the day, if it was a twenty five percent drop, that's like a worst case scenario, but we're well past twenty five percent. So. Yeah.
Dave Debeau [00:05:57] All right. So lesson learned. So, you know, back, back in the day when I first got into real estate investing, I was doing creative deals and focusing on marketing to find motivated sellers. And my whole goal was to get people to call me instead of me chasing after them. I was quite successful and that was able to do 18 deals in 18 months in a relatively small market clubs. But back in the day, we're doing things like bandit signs, doing things like vehicle signage, doing things like postcards in the mail, doing things like email and direct mail, outreach to fizbo sellers, all of these different things to get the phone to ring. Nowadays, if I understand correctly, a lot of your main focus is on Facebook ads and Google ads, is that correct? Yeah, yeah. So tell us a little bit about that and how effective that can be.
Paul Duncan [00:06:52] Yeah, I mean, with that being said, like Benetton's still work. Great. We've talked about this already. One of your star students, Brendan, he is all in on bandit signs and he loves them. So they still work. But I think a really good benefit of the online, the Facebook ads and stuff is it allows you to do a big thing about it, is allowing you to be the CEO of your own business by allowing some more automation, some outsourcing, that sort of thing. So with a Bannatyne, you're either out there or you're paying someone to be out there every weekend posting up 20, 30, 40 signs. But with what we do, it can create some really good consistency where, for example, Facebook, it's got that algorithm that learns. And so we can learn who's becoming a lead, who's becoming a motivated seller, and it can go search out more people like that. So it gets better and better. It gets consistent over time. And then it just becomes this machine that when you put one dollar in, it eventually spits out two dollars and you just keep putting it like a broken vending machine. Right. So that's why it can be really valuable.
Dave Debeau [00:07:53] OK, so for us dinosaurs that aren't super up to speed on the whole Facebook thing and and how that works, can you just do a a walk through for dummies on what the process looks like for sure?
Paul Duncan [00:08:07] Yeah. So as an example, if we're running a Facebook ad, everyone's on Facebook, we've all seen Facebook, you scroll through your feed, you see that link thing there. And then so there's the ad copy the picture and then the button. So someone who resonates with the ad copy that we have talking about all can keep up with mortgage payments, are going through a divorce or things like that. They resonate that with that. They're going to click on that button that says learn more. And from there, they're going to go to what we call a landing page, which is simply a Web page with no buttons or distractions. So there's one clear call to action with no distractions. So they're going to read through that. And if they resonate with what the landing page says, what our offer is, which is usually same as offline, which is, hey, we can buy your house, pay all costs, we can take care of the garbage and write it off or in as little as 24 hours, close in 14 days or whatever. Right. So if they resonate that they'll enter their name, email, phone number, they'll press the button. Now they'll become a lead where we can follow up with them. What we usually do also is on the next page. After we submit, we have another more info page where they can submit even more in-depth details. If they do awesome, it means they're extra motivated. If they don't, we can still follow up with them with the initial information. So for us, what happens is that goes into our CRM system. So we have a custom CRM that each one of our clients
Dave Debeau [00:09:28] remind people what CRM stands for
Paul Duncan [00:09:30] customer relationship management software. So the goal of that is to yeah, you can manage all your leads, you know who they are, has all the information, their phone number, and then our system has a thing that automates the follow up. So essentially, I told you this last time, we kind of joked about it. Essentially, it's three hundred and sixty five days of text message, voicemail and text, voicemail, email and email, follow up for three hundred sixty five days until they either say they're no longer interested or they become a leave.
Dave Debeau [00:10:00] So, OK, so let me make sure I got this straight so they see the Facebook and whatever resonates with them getting divorced. Going through bankruptcy, mortgage challenges, whatever it is they click on, it takes them to this website as landing page, which basically just explains a bit more about what you do. They read through it. Is that just like written text, you have a video on there. What what do you usually do on that?
Paul Duncan [00:10:26] For the most part, we only have written text with some pictures and stuff like that. Yeah, for the most part, a lot of clients aren't good on video, so we just don't worry about it.
Dave Debeau [00:10:35] All right. So they read that stuff resonates with them. They put it in their name, their phone number, their email address, and that gets them opted in. They go to the next page. That explains a bit more about it, encourages them to fill out a more robust, complete application that gets it into your CRM software, that sends off all sorts of bells and whistles and all this automatic stuff goes out. What about what about the human touch? Do you follow up with a phone call or how does that work? Because. Yeah, so all that kind of stuff.
Paul Duncan [00:11:11] But yeah, I mean if you've got to call them otherwise, the deal's not going to happen. Right. So there's two options there. If someone's getting those leads and the client like the investor wants to call them themselves, they will get a notification. They can follow up with the leads themselves or like for my company, we have our own in-house sales team so we can take care of the appointment setting for them. So we'll give the leads a call instantly within ten minutes. That's our goal. Call them up, qualify them, verify the information. And if they're a quality lead, if they're reasonable, then we can book that appointment directly in our client's calendar.
Dave Debeau [00:11:45] So very, very cool. Now, that's that's a slick system, that's for sure. Wow. OK, so three hundred and sixty five days of follow up, that is super robust. Is that does that mean that every single day they're getting a text and a voicemail and an email or do you shake it around and move it around?
Paul Duncan [00:12:03] Yeah, no, definitely. That would be crazy, you know, so the way it works is there's a whole bunch of follow up in the first few days, like text, email, everyday kind of thing. And then it kind of tapers off from there, gets less and less. And then it goes into and after the first 30 days and goes into a new campaign which keeps rolling. And that's kind of like a once a week type of thing, maybe once every two weeks kind of thing, just like, hey, where are you still interested type of thing. So, yeah,
Dave Debeau [00:12:29] very, very cool. Now, Paul, you've been doing this for a few years now, and it sounds like you really dabbled in the online marketing and got a lot of sales experience. Most of us have probably heard the expression the the money's in the follow up. So what has been your experience when it comes to that that whole follow up thing? So you guys are calling calling the lead within ten minutes. Are you usually getting through to them?
Paul Duncan [00:12:57] No, not always. So that's why we have all four avenues, the voice mail, text call. Right. Because not everyone answers the phone all the time. And there's actually a study that I forget which university in the US did, but they studied when the top times are to call. So we prefer to do phone calls if we're going to get an answer. Most people answer between like four thirty to seven pm and before and after it kind of tapers off. So yeah, we don't always get a call, but that's why we call five times and are kind of archim
Dave Debeau [00:13:27] times within the day if you don't get through or
Paul Duncan [00:13:30] no. So our team kind of guarantees five follow ups and that could be like five days or maybe about probably seven to nine days actually.
Dave Debeau [00:13:37] So some very good. All right. So then you send out the text, you send out the voice mail, send out the emails. What are you getting them to do? Like, what are you trying to get them to do to call you back or what are you trying to get them to do with the follow up?
Paul Duncan [00:13:52] Yeah, we're trying to get them to call us back so that we can have a quick conversation with them about just get more details about their situation. I'm sure you have a motivated seller script like a call script that you use to qualify. Right. So we go through that same thing, like qualifying information, like is it the property worth even looking at? What's the value of the property? Are you underwater, all those kind of things? Why are you selling? So we can verify that information and then, yeah, just like any other thing that you're doing offline, if that information looks like it could turn into a good deal, then that's when we're like, OK, cool. Well, we can get you booked in with Bob the client, right? We can get you booked in with him and he can do a viewing of your property and potentially write an offer if it's a good deal. So then that's when we booked the appointment in our client's calendar.
Dave Debeau [00:14:40] Very, very cool. Oh, I love it, man. I love it so much better than the system I had set up way back in the day. It was very, very primitive compared to what you've got. So, yeah, I mean, I had an answering service that would answer the call, hopefully live, but these people weren't trained very well around this. So it was kind of not a script. But sometimes they followed and sometimes they didn't. It was was pretty hard and still worked. But what you've got is. They definitely very sick. All right, we only got about a minute left here, Paul, so I know that you've got I'm just looking at notes here. You've got some free training for people about what you call your free motivated seller appointments, training. How can people find out about that? And then how can people also get a hold of you?
Paul Duncan [00:15:25] Yeah, for sure. Yeah. In terms of getting a hold of me, probably the best way would be to go to mom and pop marketing. So that's mom and pop with the letter and in the middle and then. Yeah. In terms of actually on that web page you can go if you want to look at that training and kind of just learn about what it's like to generate motivated sellers online. That's probably the best place to go.
Dave Debeau [00:15:46] Awesome. My friend, thank you very much for sharing your knowledge and hat's off to you for creating a very, very slick system. I'm very impressed. So good job.
Paul Duncan [00:15:56] Well, thanks a lot and thanks for having me on.
Dave Debeau [00:15:58] All right. Thanks very much, Paul, and thank you, everyone for tuning in. And stay tuned for our next action packed episode. Take care. Bye bye. Well, thanks very much for checking out the property profits podcast. And you like what we're doing here. Please head on over to iTunes, subscribe read us and leave us to review it. Very, very much appreciated. And if you're looking to create a regular flow of inbound investor inquiries about your real estate deals, then I invite you to attend one of my upcoming live online demonstrations. And you can check that out at Investor Attraction Demo Dotcom Ticker.