Marketing for wholesaling in Brooksville, FL

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Marketing for wholesaling in Brooksville, FL

Jaxon T Stryker
Flipper/Rehabber · Brooksville, FL · Member since 2018 · 12 posts · 0 votes

Hello everyone, I’m in need of ideas and new strategies. I’ve been trying so hard to make my first deal as a wholesaler. I started with what I thought was the most cost effective marketing with bandit signs. I’ve put out 25 a week for 3 weeks now and NOT ONE PHONE CALL. I don’t understand not even one, so I figured maybe this just isn’t effective in my local market. I took to probate listings but now am extremely overwhelmed. From having to get the list to looking up every address then the address of the executor. Then trying to skip trace the information to call or send letters. Most of the numbers have been invalid. I just am overwhelmed by the amount of work it takes just to get the leads in order. And I have no direction of what the right way to go about it is. Should I be cold calling, door knocking, or direct mailing. And should it be to the executors address or the subject property? What is a reliable skiptrace site??? And how should I organize a Direct mail campaign?? Any suggestions on how my letters should be written? I just need a little guidance! Thank you so much in advance!!!

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  • Ryan Whitcher
    Rental Property Investor · Charlotte, NC · Member since 2015 · 134 posts · 78 votes
    7y

    @Jaxon T Stryker

    someone I know put out 100 signs per week for about 4 months and didn't get any solid leads. It's all luck with those - 25 isn't that much to be honest and neither is 3 weeks when trying a new marketing method out. General rule is 4-6 months with a new marketing strategy and staying consistent through those 4-6 months. 

    Figure out what your budget can handle and go from there. For example, if you can afford 1000 signs right now - buy 250/month for 4 months (about 60/week) and start from there!

    Hope this helps, 

    Ryan

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  • Ehsan Rishat
    Specialist · Carlsbad, CA · Member since 2018 · 1k+ posts · 638 votes
    7y

    @Jaxon T Stryker We have all been there. What's important is to fight through the adversities and keep moving forward.

    You have many questions and I have many answers but here is my actual advice. Plan out a budget. Take a step back and look at the bigger picture. It's about finding the most cost effective way to generate quality leads. Successful direct mail campaigns take 3-5 touches to generate quality responses. So, these mailers need to spread out over 3-6 months, where you mail to the same list of people each month. It could be more or less than this number, but these are the general statistics. What you need to understand is that it is a free market. If you find a potentially good lead the chances of others finding this lead is also very high. You need to set yourself apart from the competition. 

    Considering your initial direct mail campaign I'm not surprised by your lack of responses. I understand that your budget won't allow you to fund a bigger campaign, so, I would suggest looking into other avenues like: driving for dollars, cold calling, knocking door to door, Facebook ads etc. Attend local REIA meetings to have investors lined up before closing any deal. Also, consult your local laws on wholesaling.

    If you still want to go ahead with direct mail, patience is key. You can't expect to get responses this quickly with such a small number of mailers. A successful direct mail campaign would be executed like this: 

    • Week 1: Send out your mail to your magical list
    • Week 1: (Optional) Start targeting your prospects with online ads
    • Week 2: Call up all your prospects to follow up the mail
    • Week 3: Send text messages to all the prospects
    • Week 4: Leave voicemails (whenever possible)
    • Week 5: Send out second batch of direct mail

    This is not the only mailing schedule out there, nor is it “the best.” This is an example of what a proper direct mailing campaign schedule should look like. When I look at this schedule, I see success. Callbacks and replies are only inevitable. The longer we keep at it, the better the results. Maintaining such a schedule is not simple and requires intense dedication to follow through properly. Here, is where the average direct mail marketer fails.

    Hope this helped. Good Luck

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  • Jaxon T Stryker
    OP
    Flipper/Rehabber · Brooksville, FL · Member since 2018 · 12 posts · 0 votes
    7y

    @Ryan Whitcher

    Thank you so much for your advice, I will just stay consistent and stay positive!

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  • Jaxon T Stryker
    OP
    Flipper/Rehabber · Brooksville, FL · Member since 2018 · 12 posts · 0 votes
    7y

    @Ehsan Rishat

    Thank you so much for taking the time to respond. I would really like to do the direct mail because the bandit signs have yielded no results, I will continue to run the signs for another four weeks but would like to run a second campaign at the same time. What would you suggest is better probate or preforeclosure and where should I get the lists??? Also you mentioned cold calling? Where would I go about finding or even purchasing a reliable list to call? Thanks again for your time!!

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