In today’s episode of Discount Property Investor podcast your host Michael Slane is joined by their recurring guest Matt Kamp from DealMachine. Matt is excited to share some new features and updates of Deal Machine. Just keep on listening to avail the 7-day free trial and $15 deal credit by DealMachine and Discount property Investor.
Welcome back to the Discount Property Investor podcast. Our mission is to share what we have learned from our experience and the experience of others to help you make more money investing like a pro. We want to teach you how to create wealth by investing in real estate, the discount property investor way. To jumpstart your real estate investing career, visit freewholesalecourse.com, the most complete free course on wholesaling real estate ever. Thanks for tuning in.
Mike: Alright guys, welcome back to the discount property investor podcast. Your host today, Mike Slane. We have one of our favorites, our recurring guest on today: we've got Matt Kemp from Deal Machine. Thank you so much for joining me, Matt.
Matt: Yeah, I always have a great time Mike, thanks for having me on man.
Mike: Good deal. You know, I'm going to grill you about our driving team pretty soon too.
Matt: I was gonna say the very least you could use the opportunity to just tee me up there again.
Mike: Every time, I'm going to ask you about this: when I'm gonna get a team of drivers, you know or what- how much is that gonna cost us? You know, what's that going to cost us to get that built out for us? Guys I'm pushing this extra service on you guys whether you like it or not.
Matt: Hey man, you know what? I enjoy hanging out, I'll- [inaudible] these you know, 5 recordings of you just doing that to my team, like can we hook up Mike already?
Mike: I'm telling you. This is- it's a feature that people are demanding, you know? I'm one of those people.
Matt: Yeah, specifically Mike.
Mike: I like to include myself in people, all right? Hey we're one man down today though, Dave is out at a mastermind and hopefully bringing back some more tricks and other ways to utilize tools like deal machine so it's just Matt and me today, and I think we're pretty excited or I know Matt is really excited to share some new features and I'm excited to start implementing them, you know, everything that we can. I think we've added, I can't even tell you how many leads the deal machine and oh! Matt, this is something I was super stoked about. One second, I'm gonna be right back here.
Matt: Yeah, go ahead.
Mike: This is something I was really, really excited about. Okay, so you get the return mail, right? So we've got stacks and stacks of the return mail because I mean, as a wholesaler you know this, if you start doing direct mail, you're going to have some addresses that just- they don't work. It's either a bad address or it's vacant or whatever and it comes back to you. I didn't realize that deal machine was able to track that. My mind is blown, I don't even know- how do you know that?
Matt: So that's something is an add on feature so you can turn that on. We actually, we figure out on our end from a data perspective how to implement that and be able to make it that so it's fed directly to the app and that way, you guys- like the whole point of that, you know, one, like awesome that we can do it using technology but two, like being able to actually get those letters, I mean now you guys have that cold call list for you know, we need a different way to reach out to them whether it be text, whether it'd be call, you know, email, you know you got a variety of other ways to do that, but it'll give you an indication that it's a great lead to reach out to in other ways.
Mike: So why am I so excited about that guys? So driving for dollars first again, if you've heard some of our other podcast's, it's a great way to generate your own lists for wholesaling or just direct to seller marketing but these are the golden leads. So your return mail are golden leads because there's not as many people that are going to take the extra effort to track that person down. So those have always been very good leads if you keep your return mail and then you do another skip trace and you locate that seller because they're not getting bombarded with mail, they're not getting bombarded with everything else.
Mike: So what I found in deal machine and again, I was just kinda- I thought I saw it one time and Dave and I were like man, we've got a whole stack of these, we got to start getting on them is that deal machine is able to track it with technology when it hits the return mail and then you've got in your list, you can find the ones that got returned so yeah, that's just really cool.
Matt: Yeah, [inaudible]. I mean you send a- you know, anytime they mark- you know, it's in the post office marks that it's vacant. You know we can pull in that feed and then really understand like hey, like you said, these are the ones that if you actually track it down, if you actually take the extra effort, you have way less competition to go against and you know that means your bang for your bucks can go way further.
Mike: Yeah, so very very cool and again, if I was better at tracking, I'm going to have to share some case studies pretty soon about the deals we close just from that feature alone.
Matt: I love it.
Mike: Very exciting man, very exciting. I'm sorry, I should've prepped a little better for this podcast and had the stacks in here cuz I mean we've literally got- I don't even know how many, about three hundred or so I think was what it was in the system of all return mail.
Matt: There you go. Yeah, next time I'll have a driving team for you and then we can- you can just cold call them live.
Matt: Like that way, we each got our own accountability.
Mike: There you go man, I love it. That's great man.
Matt: Awesome man.
Mike: Yeah, what you got for us today? Let's jump in.
Matt: Yeah, I'd be happy to show it off. We've got- so there's a couple of other initial updates that I can share first and then we have a whole new feature that I can kind of unveil little bit today for you guys.
Mike: Cool, you want to share your screen?
Matt: The other updates like- yeah, oh yeah. You see my screen yet?
Mike: Yup, let's do that. Perfect.
Matt: There we go. Perfect, awesome. So, to kinda begin with: one of the things that we hear consistently from you guys, from all of our deal machine members is like hey obviously like the better data and the faster you can get that data, the more effective you can be in, you know, with your lead generation strategies, right? Like data is king in terms of being able to kinda figure out you know, who de we need to be going after? How can we get in front of them? you know, really just qualifying leads more effectively, so we spent a lot of time on our end really kind of bulking that up to give you guys richer data and richer tags to be able to say hey this is a really good lead for you to reach out to. So to begin with, I want to show off one of those upgrades and also in addition to that, we recently lowered our skip-tracing costs by about 20%.
Matt: So we're trying to like just, you know, the only thing that's- you know there's a hard cost associated with skip tracing, right? But besides that, like we've- we're passing on all the savings directly to you guys like we just want to be able to make it so that way it's cheap and easy as possible for you all to get this owner data.
Matt: But if you jump into one of these here, I'll show off like you know for example this lead here in South City. This skip trace right here, you'll be able to see- now, we actually have upgraded our phone number labels so you can come in here and see caller ID, does that last name fit with the current owner? Is it a mobile number? Is it a landline? Who's the carrier? Is it connected? Do not call list tag shows up. So we've really, really enhanced the type of data you get for on the go it because a lot of our members like they're doing this, they're out there, you know, taking pictures of properties and you know, adding the property and right on the street as they're driving around, right? So we want to make it as easy and accessible as possible that you can find this data quickly and figure out okay, you know, is this a mobile or landline line number and whom I most likely to get a hold of when I call. I know it's a minor tweak but it's something we hear often that especially for people on the go just like skip tracing, calling, right when they're in front of a house, I think or I want to- you know, have driven by like I think people find a ton of value out of that.
Mike: Well yeah and honestly you don't need major tweaks though. Like minor tweaks make a big difference but I mean I think especially when you've already got an app or an application like yours that is very very mobile-friendly to begin with, I mean I don't think- I don't want to see you redesign it. Honestly, sometimes when things get completely redesigned, it's just a- it's a new learning curve, you know?
Matt: For sure, yeah.
Mike: I think minor tweaks are definitely the way to go and especially when they kind of improve the usability which is what this looks like it's going to do for us. On that note and this is just kind of a personal question I have about it. How do I mark, like when somebody replies that this is the wrong number or wrong person or something, is there a way to like mark it easily like wrong number and then- so I can remove the phone number, right?
Matt: You remove the phone number right there and then I know within this- oh man, there is this system that we've been working on putting in place where you know, if it's a mobile number, you can obviously text directly there too, but there is a system we've been putting in place of getting feedback to mark them on the- that's a bad number. Yeah, let me get back to you and do that on the next episode.
Mike: I put you on the spot and I apologize for that.
Matt: I'm like man- no, that's a great question though.
Mike: But you know, as we talk about things, these are- and you know I'm using it so it's one of those things where it's like man, what I would love to see is mark it as a bad number and then it like pulls up the next number and sends the text automatically again.
Matt: Yeah, hundred percent and you actually I mean-
Mike: You know what I'm saying?
Matt: Yeah, if you have the texting feature unlocked, I mean you can bulk send like this and it'll send every single number. So if I do, you know, bulk send and hit send message, that'll be able to- here we go, it'll cycle through your text messages quickly so like for example, if they have two, you know, if they only have one mobile with them, you know, only one mobile for him and two mobiles for him, so it'll automatically send those messages to every single mobile number there and I know if you send a message like that directly in the system and it doesn't connect, it'll automatically mark it as a bad number for you so it'll work that way, but I don't know if the user feedback, I can' remember if we've built that in yet of being able to say hey yeah it's a bad number and mark it yourself.
Matt: So I'll get back to you on that one.
Mike: Cool, cool. Again, I'm just- I'm talking out loud like putting you on the spot man.
Matt: It's great. Dude, I mean this is why I like- this is why every time I get on, we have new things to show you guys because we're having conversations like this all day with people actually using the app so that way, you can really get to know and figure out like how to use it best and continue to improve it. Like our features button right here, request feature. If you click on that, it has like 400 ideas of different features people have submitted and then you can upvote the ones that you like, and the ones that consistently bump up to the top are the ones that we're prioritizing too so yeah. I've put you- live feedback is great.
Mike: Cool, cool.
Matt: The only other thing on the data side too is whenever you bulk skip trace people now, which I have the auto skip procedure on here so I can't show off this second but whenever you bulk skip trace now, we've changed the way that process works within our software so it's improved our bulk skip tracing speed by like a factor of 10. So if people are doing this and they're wanting to get in and say, hey yeah, I filtered an entire list. I've got, you know, like 200 leads that I want to get the skip trace information for quickly, now it's 10 times faster than it was a month ago. So the dev team worked really hard to kind of revamp exactly how it works within our software.
Mike: That's cool. Sounds like a lot of work for them and yeah.
Matt: Yeah, I was gonna say. They're amazing, they are like rockstars. I mean we, you know, we would not be where we are without the dev team like that. A hundred percent. It's not something you can just show off as-
Mike: Right, right.
Matt: As fun as like the next feature will be but you know, it is a big deal for people so yeah, so that's one thing. One other quick update before I get into that feature is our virtual driving for dollars which I showed off maybe a month or two ago with you guys.
Matt: It was a little while back. That has been getting such good feedback that we said hey we're actually going to open that up to all of our members.
Matt: So we used to have it be a pro level feature and up and now we said hey we've got people who were virtually wholesaling, virtually investing all over the place, people you know that wanted to be able to do this really really easily, even beginners you know that are on the coast and wanting to invest in the Midwest or wherever it might be, so we've opened that up to basic level members now too.
Mike: That is awesome because that's one of the things I'm actually going to start doing a lot more of coming up here probably next week. I'm just gonna start doing a lot more virtual driving for dollars so I'll start promoting that for you guys here pretty hard.
Matt: There we go man, yeah yeah. I mean I think, it's something to you know, if your driving for dollars and maybe you have a full-time day job and you want to do this at night or something, you know, obviously it's a little bit tougher to like you know, drive for dollars while it's tough to see. So we see people do- you know, even if you're on your own local market and you're just, you know, working a day job and hustling is a nighttime thing for you or maybe you're at the Sunday football season, you're on your couch and you only productive while you're watching like things like that, you know, it's a good kind of multitask thing for everybody.
Mike: Yeah, that's exciting and I- so it's also another one, we just had a student last night on one of our training calls was talking about you know, his market's kind of small and that's what you're saying well it's time to go maybe virtual, consider doing some virtual wholesaling so I mean that's another great use to people who live in smaller towns who don't necessarily have access to a population of a million people or more, you know, there's only twenty thousand people in their town, can't really go virtual driving for dollars- or can't go driving for dollars you know, you're gonna run out of houses pretty quick, so not always feasible to jump in the car and drive three hours to the city that's close by so very cool.
Matt: 100 percent, yeah. So that you just do it right through the Google chrome extension right here and you can jump into Google maps and be able to you know, virtually do drive for dollars like that so definitely you know, in that last episode, we show that off a little bit so definitely I can kinda refer to that if you want a deeper dive and exactly how to do the virtual wholesaling. All right so, one thing I'm really excited to show you guys today. So this new feature, it's an add on that we recently just I think we launched just a couple weeks ago, we tried it- we've integrated it right here to the property card for everybody so it's really convenient and easy to find but you know, you've got- obviously like if- here, let's start with a fresh property right here to kinda show off the full process.
Matt: So if you've, you know, if you jump in the map here, we're going to tag a property. Here we go, if the kids aren't taking up too much bandwidth here, competing in the house here. Alright, so we're in South City St. Louis right here, you can drive around and again, you know, you're probably on the go when you're using this map so how we've created it is to be able to make it a lock on to your location and you got really, really as you're going but say I just pick one property right here. I see okay great, you know, we have sale price said it right here, we've got you know, one-bath, we don't have the bedroom information here with this particular area but we say okay cool, I want to try to get in touch with person Elizabeth and say- we really designed this so that way if you're on-the-go, you can do this really simple and easy, and replace some back-of-the-napkin math, but say I added this lead, I gave them a call, you know, skip traced them, I gave them a call so I didn't even need to send them a mailer. I got ahold of them and they said yeah what- we're interested, what do you want for the property? Add that step- you know, normally you'd have to jump into another tool or figure out okay, you know let me pull up some comps here. Well, this new add-on that we added right here, you can see the comps button right at the bottom, click on that, pull that up and you'll start to see you know, you can filter out in your area and say, hey yeah I wanted to show within the sale date of the last six months, range within 3 miles, square feet, we'll do you know, we saw there was one bathroom and say you talk to them and they said yeah, you know, we have three bedrooms you ask a couple questions there and take a look at it. Yeah, just that they'd remember here and you'll see the bottom comps start to populate already where if we go back here, hide those filters, boom, we've got 51 comps right around us and you can see, okay, you know, we've got- it matches based on square footage, it matches based on bathroom and then I put two to three bedrooms here, so you can really, really quickly start to- on the go right in this property card, see hey here's what- here's some comps around me looking like we're in that 150 range for most of these here.
Mike: That's great man. That's really cool. Yeah, so the comping feature is relatively new then, right? I mean, this is the-
Matt: This just launched, yeah.
Mike: Yeah, that is really slick. So, the comps, where is it pulling from? Is it is all MLS data?
Matt: So that's something- yeah, we're pulling that data directly in, you know, and I know that it's something interesting like we, you know, from this approach, like the whole goal with it was to make it so that way it would just really, you know, mobile-friendly and easy to do on the go so we tried to make it really simple and easy, not to be too overcomplicated in terms of manipulating the data, but yeah, it's pulling that directly in and you'll be able to scroll down and see based on square footage and then based on bed, bath and sale price here what you're looking at, you know, within that radius quickly.
Mike: That's great. I love that man, I love that and being able to do that from the phone is something that's very powerful too. I know that's probably my biggest weaknesses is when I'm out in the field, if I haven't run comps or prepped for an appointment correctly or like you said, if you're calling them on the phone like it's almost impossible to have comped every house in that area, so very cool.
Matt: Yeah, so the goal with that was being able to- we heard comps was obviously in general, like in the process, comps are an extremely important part of that of you know, getting to your number but like you said on the go, like that was an niche that we found that we can serve because we're really a mobile-first platform, like when your technology is best when in the field and actually driving for dollars, right? But we didn't really quite realize the power of that of being able to serve that need on the spot and the lack of alternatives that people have to really do it in a effective way like before this.
Mike: Yeah, I mean we- I'm a licensed broker so I mean, I do comps, you know, on MLS all the time, right? But you can't do it from the phone. Nothing is mobile-friendly. We use a couple other services too and they're great, don't get me wrong but none of them are I think mobile based software kind of like yours is so that is very cool. I'm excited to play with it on the phone, that's where I want to try it actually.
Matt: Yeah, so while your giving people a call on your stack of new postcards that's come back to you, you'll be ready to go, you can sign the offer pretty quick too.
Mike: That's great Matt. Very very cool. So that's a big- that's a huge update though, it's pulling in all that data and you've got to do it nationwide too then, right? I mean so you guys- that's not a small undertaking for your crew is it?
Matt: Yeah, I mean I think like that was definitely a major priority in one of our most recent kind of new developments sprints like that but yeah like our goal was hey make sure we have awesome data for people, you know we upgraded how fast they can get it. We upgraded the skip-tracing labels to really like most effectively get in touch with owners, you know, do it so that we can get the virtual now too for anybody and by the way like once you're actually out there making an offer, let's give you this comps tool so you can do it while your on the go.
Mike: Dude, that is crazy. Yeah, like again, that's awesome. I mean very, very big upgrades and the fact that again, one of them that we kind of just stumbled over too though is that you've increase the base plan so now everybody can do the virtual driving for dollars too. So again, driving for dollars for everybody, a little bit cheaper skip-tracing, which is huge and then the comps now added all to the deal machine app so very exciting. If you're not using it, you probably should be. We'll stick a link down below, you guys check it out. I think it's dealmachine.com/discountpropertyinvestor and we give you guys or deal machine rather gives you guys $15 in deal credits, I believe. Is that still our current promo? Think that's what we get.
Matt: Yeah, if you go to dealmachine.com/DPI, it also will pull it up. So either way, you can get there and it adds 15 dollars in deal credits right away and we do 7-Day free trial and then $15 in deal credit is a 100 free skip traces now with our lower pricing.
Matt: Yeah, you can start quite a few conversations first week, you know, all free, both on the skip tracing and the trial.
Mike: Just starting your trial period. Yeah, very cool.
Matt: Yeah, exactly.
Mike: I'm not going to say you could get a deal but you probably- you might be able to get a deal out of that, you know.
Matt: I mean it's crazy, we've had people, again like, depends on your market. Most markets on average, they need a couple hundred people leads in there to land a deal but we do have people like we have a YouTube video of one of our- one investor literally was their third or fifth call that they just added on the spot and in real time, we're listening to them negotiate and close a deal right there so it happens.
Mike: That's incredible, yeah. Absolutely incredible.
Matt: Yeah, so appreciate you having me on, you know, the dev team, the team, they're gonna have more work guys get to have the phone showing it off so I'm lucky.
Mike: You are man, you get to be the rock star, the face of the brand, lucky you right? Matt, as always, it's been a pleasure. I look forward to having you back when you talk about the team that you're gonna start building for people to help us drive.
Matt: Yes, of course.
Mike: So hopefully next month, you know, you'll get your dev team on it, you know, and they can.
Matt: Not busy enough, there you go.
Mike: Sounds good man. Matt, thank you so much, appreciate you.
Matt: Awesome. Thanks Mike, appreciate it man.
Mike: Take care.
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