Recommended Ring Central Setup

We recommend LPGphone.com (Ring Central) as our preferred phone system for the Land Profit Generator method.

The reasons we recommend them as a resource include:

  • They offer a full-featured virtual phone system (virtual PBX) that can be easily self-managed (doesn’t require expensive phone techs to configure) at a fraction of the cost of a traditional company phone system.

    NOTE: For a complete list of features and up-to-date pricing information please refer to: https://www.ringcentral.com/office/plansandpricing.html
  • They are a virtual system that is hosted in the cloud so you don’t need to install any software on a server that you need to manage or maintain.
  • They provide you with full-featured Desktop and Mobile Applications that allow you to easily make and receive calls from your company phone lines and much more. To download their Desktop or Mobile Apps visit: https://support.ringcentral.com/download.html

Recommended Setup:

We have two recommended setups:

  • A two-line setup
    This will cost you less money per month and is only recommended if the same person/team in your company that takes the offer request calls is also the same person/team that handles offer questions/ negotiations.
  • A three-line setup
    If you have a call center like LandCalls.com answering your offer request line and a separate person/team that answers questions about offers you have made, or is in charge of handling offer negotiations then you want to use this three-line setup to ensure you have a separate extra line for your offer negotiation person/team and you significantly reduce the chance that the seller will call your call center to negotiate an offer.

    NOTE: With Ring Central you can upgrade/downgrade as needed so you can start with two lines then increase to three in the future as your company grows.

The Two-Line Setup

Here’s how it works:

Here’s how you set this up:

In this setup you have two lines, one for your buying (acquisition) side of your business, and one for your selling (disposition) side of your business. At a minimum you want to keep these lines separate because there is a major difference between people that sell land to you and people that buy land from you and you don’t want to cross those two distinctly different markets together.

When someone calls your Buying Line they will hear a custom ‘Auto Receptionist’ message prompting them to either select 1 if they received a letter from you and are interested in selling their property, and #2 if they want to speak to someone regarding an offer you already sent them. This is set up under ‘Phone System> Auto Receptionist> IVR Menus> New IVR Menu

NOTE: The downside of using the two-line setup is it relies on the caller listening to the message and selecting the correct option. Whereas the three-line setup is a simpler process for the caller and eliminates most scenarios

Where To Save The Two Numbers In The Investment Dominator?

Save your Buying Line under both:

  • Customize> Company Information> Company Phone
    Here you are going to put the notation (Option 1) after the number.
  • Customize> Company Information> Offer Phone
    Here you are going to put the notation (Option 2) after the number.

Save Your Selling Line under:

  • Customize> Company Information> Selling Site Phone

The Three-Line Setup

Here’s how it works:

Here’s how you set this up:

Register two additional users with phone numbers (so that your account has a total of three lines).

How to add a User with a line:

Navigate to ‘Users> Add User‘:

Select the ‘Domestic‘ option then click ‘Next‘:

Click on the tab called ‘Add Users without Devices‘.

Then select ‘Yes‘ under the ‘With Numbers‘ field.

Select a local number from the options then click the ‘Add’ button.

Click the ‘Unassigned Extensions‘ option from the left sidebar, then click new extension line to configure it:

Fill out the form to set up the new user/line.

Under the User’s ‘Call Handling & Forwarding‘ settings you can set the forward number that will either go to your call center as in the case of line 1, the desktop app of the person that is going to handle your offer negotiation for line 2, as well as the person/team taking your sales calls for line 3.

NOTE: Ring Central is a 3rd party company so they can change their pricing, features, interface at any time and we do not have control over that. This article should merely serve as a reference to help you get set up the way we have structured our business.

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Land> Reports: Understanding Your Deal Flow KPI’s

We have a few key reports built into the Investment Dominator regarding your land investment deal flow, located under the ‘Land> Reports‘ section.

Interest By Property

This report will show you the number of people interested in a particular property based on how many people are connected to your property under the ‘Interest In‘ field of your Buyers List (‘Marketing‘ tab).

You can click on the number next to the property description to load the actual list of contacts interested in that particular property.

This report shows you what types of properties get more interest than others.

Saved Searches

This is where all of your saved ‘Advanced Searches‘ are displayed. For more information on how to create an ‘Advanced Saved Search‘ please review this article: https://user-guide.investmentdominator.com/advanced-search-and-saved-searches/

Property By Tags

This report shows the number of records that contain a particular tag. This is useful when segmenting your list by tags.

Click the number next to the Tag name to load the specific list of properties that contain that Tag.

Land Deal Summary

This section displays the main KPI’s of your land deal flow. They include:

  • Total Invested (Land)
    This is the amount you have spent and recorded in the system to purchase land.
  • Total Asset Value (Land)
    This is the total amount value based on the Market Values entered in the system for the property you own.
  • Total Revenue Generated (Land)
    This is the amount of revenue you have generated by selling land based on the recorded sale price saved in the system.
  • Total Profit (Land)
    This is the total profit generated from land sales based on data entered into the system under the ‘Transaction Information‘ section of your property records.
  • Average Deal Life Cycle (In Days) (Land)
    This is how long on average does it take to buy and sell a property according to data entered into the system.

Land Deal By Stage

Your deal flow is organized by Stages in the system. You can view a count of properties in each Stage of your deal flow so that you can identify bottlenecks quickly.

Hover over a column to view the number of properties within that Stage and click the column to load the list of properties within that Stage.

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HTML Editor Options

In various areas of the Investment Dominator you will find an HTML editor that will allow you to insert images, create bullet-point lists, format text, align text, add hyperlinks, create data tables, paste text from an external source, and much much more!

Below are just some of the options available to you in our HTML Editor.

Hover over the icons in the HTML Editor itself to get a definition of what each option is used for, but to help define some for you here please reference the image below:

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Payment Calculator>Loans: Terminology and Definitions

Loans

  • Type: You can either choose to calculate a loan with an amortization schedule or a lease-purchase sale which is similar to a rent to own type of sale.
  • Enter In Sale Price: This is the agreed sales price for the property, or in other words, what you are selling the property for.
  • Enter Down Payment: This is the down payment that the buyer puts down at the start of the loan… this amount reduces dollar for dollar the amount financed before the loan is amortized.
  • Enter Annual Property Tax (If applicable): When you owner finance a property, you always want to pay the taxes on behalf of the buyer, therefore the annual property taxes are included in the calculation to determine the monthly payment amounts as well as the four-month tax reserve due at closing.
  • Enter HOA/POA (If applicable): If the property has HOA (Home Owners Association) or POA (Property Owners Association) dues, then you want to enter in the annual amount due. Just like the property taxes, you will want to pay any HOA or POA dues on behalf of the buyer and that is factored into the monthly payment amount.
  • Enter Doc Fee (optional): A doc fee is like an administrative fee to conduct the transaction. You can think of it like the fee you would pay a title company to transact a cash sale. It is paid to you at closing but not applied to the loan balance. It is industry standard to charge $500 for this fee.
  • Enter Interest Rate (optional): The interest rate is used to calculate the interest portion of the payment and it is amortized over the term of the loan. If you are not going to charge an interest rate you can enter in 0 to calculate the loan as a 0% interest loan. Since banks do not typically lend on land the interest rate on land does not follow the rates on houses. It is quite typical to charge a 12.9% rate on land even if financing on houses is at 3%.
  • Enter Monthly Loan Service Fee (optional): The serving fee is an administrative fee for serving the loan. It is factor into the monthly payment however it is an amount in addition to the amounts applied to principal, interest, and impound. Think of this as compensation for the administration effort required from you to manage the loan. It is industry standard to charge $18 to $20 for this fee.
  • Enter Term (optional): This is the number of months the loan is amortized over, or in other words, this is how many months it will take for them to pay off the loan assuming they pay the minimum amount due each month. If you leave this field blank the system will determine the loan term for you. Or you can enter in your own term and the calculator will adjust accordingly. Keep in mind the lower the term the higher the payment will be and the faster the buyer will be paying off the loan.

Loan Summary

  • Sales Price: This is the agreed sales price for the property, in other words, what you are selling the property for.
  • Down Payment: This is the amount that the buyer puts down at the start of the loan which reduces dollar for dollar the amount financed before the loan is amortized.
  • Doc Fee: This is the administrative fee to conduct the transaction. You can think of it like the fee you would pay a title company to transact a cash sale. It is paid to you at closing but not applied to the loan balance.
  • 4 Month Reserve: This is the annual property taxes plus any HOA/ POA annual dues summed up and divided into a monthly impound amount, multiplied by four. The reason we charge this at closing is to accelerate the amounts in the reserve/impound account that are set aside to pay the annual property taxes and HOA/POA dues on the buyer’s behalf in case these amounts fluctuate over the loan term or they are due before the account is fully funding by the monthly inbound amounts. Or in other words, we are over funding the impound reserve account to prevent funding issues that may or may not occur in the future. Any amounts paid into the reserve impound account in excess should be returned to the buyer once the loan has been satisfied and title transferred to the buyer.
  • Total Due Today: This is the total amount the buyer will need to pay at closing in order to purchase the property with the financing.
  • Amount Financed: This is the amount the buyer is financing with you over the term of the loan.
  • Interest Rate: This is the interest rate is used to calculate the interest portion of the payment and it is amortized over the term of the loan.
  • Monthly Payment: This is the base monthly payment which includes the principal and interest portion of the payment.
  • Monthly Impound Amount: This is the annual property taxes and any HOA/POA annual dues split up by month. These funds are set aside to pay the property taxes and any HOA/POA annual dues each year on behalf of the buyer.
  • Loan Term: This is the number of months the loan amortized over. In other words, the number of months it will take the buyer to pay off the loan assuming they only pay the minimum amount due each month on time.
  • Monthly Loan Service Fee: This is an administrative fee for serving the loan.
  • Total Monthly Payment: This is the minimum amount the buyer will need to pay you each month. This amount includes the principal, interest payment, monthly impound amount and loan serving fee that is due each month.
  • Pay Day: This is the day of the month that the payments are due. Typically this is set to 1 which is the 1st day of the month
  • Per Diem: This is the amount owed on a per day basis this is used if someone asks for their payoff amount but they can’t pay for a few days, in that case you would give them their Payoff amount and Per Diem amount and let them know to tack on the Per Diem amount for each day beyond today to the Payoff amount so that they send in the correct amount.
  • Bring Current Amount: This is the amount that the person owes at any given moment it includes any outstanding payments as well as any outstanding fees.
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Using ASCII Symbols In Ad Titles As Pattern Interrupts

When people scroll through ads on sites like Craigslist that have popular text list views you’ll want to make sure your listing stands out. One way to do this is to use ASCII or HTML Symbols in your titles to catch the eye of visitors as they scan through the list of titles.

Below is a complete list of HTML codes you can use in your titles to display a special character in your title:

¥
¥
£
£
¢
¢

✿

╳

★

▶

◀

▼

▲

☰

⋗
®
®
©
©

∏

∑

∂

∫
ɾ
ɾ

〈

⎞
Ο
Ο

☺
о
о
ت
ت

✦

✪

☼

☛

✤
Ʒ
Ʒ

☞
Ρ
Ρ

⎷

⎛

➝

◕

✚

☯
˙
˙

■

‼
О
О

☠
Т
Т
М
М
İ
İ

➣
Ŝ
Ŝ
Ғ
Ғ

∞

∑

☂

▐

❥

≋

▀

▄

☎

▬

☮



घ

❀

र

➨

░

〓

❶

✖

➽

╰

‿
з
з

⎲

,

√

❍

†

‡

◊

↑

↓

←

→

❂

⨀

▸

✉

⁢

♬

♩

♭

♯

♪

⇒

⎬

。

♫

;

⋐

⌒

❈

✲

❁

✓

✭

✜

中

❑

文

服

務

の

♛

☑

∞

▒

✈

┉

☻

◙

&#149

☜

●
ن
ن

▷

☲

☵

☢

○

❏

❤

☚
°
°
ɼ
ɼ

⋕
Α
Α

➠

◤

◥

☗

♞

✫

♔

┊
ق
ق

↔

◘

✛

♻

□

➲

▓

✰
¬
¬

⎯

⎰

✔
Ʈ
Ʈ

☁

▣

⋘

提
§
§

╠

╬

➪

█

➔
µ
µ
Ŀ
Ŀ

╊

⎨

♣

♨
Ѕ
Ѕ

✱

⤎
ـ
ـ
·
&#183

☓

❖
ε
ε

↻

☏

☆
¤
¤
Ƹ
Ƹ

Ằ

◆

☀

♦

⋙
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Raw Data Processing: Identifying Entities

If the County saves both individual owner names as well as entities under a single Property Owner field then one of the data processing steps you will need to conduct is to programmatically identify these entities and move them to the ‘Company’ column within your list. You will also need to indicate under the ‘Type’ field that these records are companies by entering the value of ‘Company’ for these records.

Below is a list of common keywords that would indicate that the owner is not an individual but rather a company or entity:


acquisition
aka
assoc
associa
association
bank
benefactor
beneficiary
business
c/o
care of
church
city
club
county
dept
develop
eastern
es
est
estate
et al
family
firm
foundation
holding
inc
invest
ira
land
llc
lp
ltd
northern
of
owner
ownership
partner
property
school
service
southern
st
state
tenant
tr
trs
trust
univ
us
western

Raw data lists also contain multipart names or prefixes and suffixes that need to be identified and properly formatted into the ‘First Name’ and ‘Last Name’ columns in the case of ‘Individual’ records and should not be treated as companies simply because they contain multiple spaces. You can also use this list to distinguish between common multipart names and middle initials that the county may also include in the raw data and which should be removed.

Below is a list of common multipart names, prefixes, and suffixes that you should account for in your data processing scripts:

Atty
Da
De
Del
Della
Des
Di
Dr
Du
Esq
Et Al
I
II
III
IV
Jr
La
Le
Mac
Mc
MD
Mr
Mrs
O
PhD
Prof
Ret
Rev
Sir
Sr
Von

Below is an example macro that you can use (and adjust as needed) that identifies companies or multipart names based on keywords lists like the ones posted above. We use similar scripts to identify the Companies in a list and move the company name to the ‘Company’ column in our list.

First, create a workbook with 3 sheets:

    Set InfoWs = Sheets("info")
    Set Kw = Sheets("keywords")
    Set SmpleWs = Sheets("sample")

The “info” sheet must have a title in column “A”, where you paste the OWNERS on row 2. The “keywords” sheet starts in Column “A” row 1, and the data will be on the “sample” sheet row 2, so the titles for the “sample” will be “Type”, “First Name”, “Last Name” and “Company”.

Then add and run this macro to identify records based on the keywords listed in your “keywords” sheet:

Private Sub GetCompanies_Individuals()
    Dim wrdLRow As Long
    Dim wrdLp As Long
    Dim OwnersLrow As Long
    Dim OwnersLp As Long
    Dim fndWord As Long
    Dim InfoWs As Worksheet
    Dim Kw As Worksheet
    Dim SmpleWs As Worksheet
    Dim names() As String

    On Error Resume Next

    'Define worksheet that has data on it....
    Set InfoWs = Sheets("info")
    Set Kw = Sheets("keywords")
    Set SmpleWs = Sheets("sample")

    'Get last row for keywords based on column A
    wrdLRow = Kw.Cells(Rows.Count, "A").End(xlUp).Row
    
    'Get last row for owners based on column A
    OwnersLrow = InfoWs.Cells(Rows.Count, "A").End(xlUp).Row

    'Loop through lists and find matches....
    For OwnersLp = 2 To OwnersLrow
        fndWord = 0
        For wrdLp = 1 To wrdLRow

            'Look for word...
            fndWord = Application.WorksheetFunction.Search(Kw.Cells(wrdLp, "A"), InfoWs.Cells(OwnersLp, "A"))
            'If we found the word....then
            If fndWord > 0 Then
                    SmpleWs.Cells(OwnersLp, "A") = "Company"
                    SmpleWs.Cells(OwnersLp, "D") = WorksheetFunction.Proper(InfoWs.Cells(OwnersLp, "A"))
                    'fndWord = 0
                Exit For
            End If
        Next wrdLp
        
        If fndWord = 0 Then
            names = VBA.Split(InfoWs.Cells(OwnersLp, "A"), " ")
            SmpleWs.Cells(OwnersLp, "A") = "Individual"
            SmpleWs.Cells(OwnersLp, "B") = WorksheetFunction.Proper(names(0))
            SmpleWs.Cells(OwnersLp, "C") = WorksheetFunction.Proper(names(1))
        End If

    Next OwnersLp
End Sub

NOTE: If you are not familiar with creating macros, data processing software, data processing techniques, and best practices then we highly suggest you hire a professional data processor to filter and process your raw data lists to be used for import. This article explains how you can easily outsource this step to a highly qualified professional.

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Notes: How To Attach A Property To A Note

There are two ways you can attach a property, or properties to a seller financing Note:

  1. If you create the Note from the ‘Land>Options>Payment Calculator> Create New Loan‘ or ‘Land>Options>Payment Calculator> Create New Lease Purchase‘ then the system will attach the property record that you were on when you opened the Payment Calculator to the New Note record.
  2. If you create the Note from the ‘Notes> New Note‘ screen, then under the ‘Property Information‘ section you will need to manually select the property or properties that you want to attach to the Note.

NOTE: In order to attach a property record to a Note record the Land Record must be in the ‘Complete/ Ready To Sell‘, or ‘SOLD‘ Status.

NOTE: Multiple properties can be attached to a single Note record.

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The Status of a Note and How To Update It

The Status of a Note is important because it is what controls the overall state of the Note is as well as properly indexes your records for accurate reporting.

Here is a brief explanation of the built-in Note Statuses and what they mean:

  • Preview: Initially when you create a new Note record from the Payment Calculator the default status of the Note is set to ‘Preview‘ which is a way for you to review and refine the settings of the Note before you actually go live.
  • Open: To active a Note you need to change the status to ‘Open‘.
  • Delinquent: When a Note becomes delinquent the Status changes to ‘Delinquent‘ and then back to ‘Open‘ once the Buyer gets caught back up.
  • Pre-Foreclosure: When you are in the process of taking the property back due to non-payment you can manually move a Note into the ‘Pre-Foreclosure‘ Status.
  • Complete: When a Note term has completed the status of the Note can be updated to the ‘Complete‘ status.
  • Canceled: If someone cancels a Note prior to the term ending, you can update the Status to ‘Canceled‘ which saves the record and payment history of the Note but deactivates in the system.

How To Change The Status of A Note

In order to change the Status of a Note you must first click on the ‘Edit‘ link to the right of the Note record in the Notes overview table that you want to update.

Next, click the ‘Edit Record‘ button located to the top right of the record to open edit mode.

Under the ‘Status‘ field select the status that you would like to move the record into.

NOTE: Selecting the ‘Open‘ status will trigger the system to generate any payments due between the current date and the Note’s origination date so you’ll want to confirm what you have entered under the ‘Origination Date‘ field prior to saving this change.

Click the ‘Save Changes‘ button to save your updates.

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Terminology Changes for 2020

We have made some changes to the system in terms of what we call things to help clarify their function and allow for more space in the design so that we can add all the new features we are planning in 2020. Here are the terms that changed in the January 2020 update:

  • Land Deals‘ changed to ‘Land
  • House Deals‘ changed to ‘Houses
  • Buyers List‘ changed to ‘Marketing
  • Customize Site‘ changed to ‘Customize
  • My Sites‘ changed to ‘Websites
  • My Team‘ changed to ‘Team
  • My Profile‘ changed to ‘Profile
  • The bulk ‘Generate Documents‘ changed to ‘Campaigns‘.
    NOTE: The select ‘Generate Documents‘ option stayed the same.
  • We added a new tab called ‘Notes‘ for seller financing.
  • We removed the ‘Customer Care and Training‘ box from the Dashboard and replaced it with a new Notes section.
    NOTE: You can still access the customer care and training under the ‘Help‘ tab of the menu.
  • We added a new section under ‘Customize> Note Settings‘.

NOTE: We will be updating the user guide articles over time to reflect these changes; however, until they are updated you may see the old terminology referenced in the article content, screenshots, and attached training videos.

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How To Delete A Note (Loan/ Lease Purchase)

IMPORTANT: Before you delete a Note we highly recommend that you export both the Note and the payment data to your local machine as deleting the Note will also delete the attached payment history for that Note.

To Delete A Note:

  1. Click on the ‘Notes‘ Tab.
  2. Click the ‘Edit‘ link next to the Note that you would like to delete.
  3. Click the ‘Edit Record‘ button located at the top right of the record.
  4. Under the ‘Loan Information‘ or ‘Lease Purchase Information‘ section click the ‘Delete Note‘ button.
  5. A warning message will appear asking you if you want to delete the Note and the attached payment history.
  6. Click ‘Yes – Delete‘ to continue.
  7. You will see a confirmation message once the Note has been successfully removed.
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