How many leads does it take to get a wholesale deal
Member since 2021 · 13 posts · 5 votes
I’m a few days away from starting my first marketing campaign and I was wondering if anyone could tell me how many leads I need in order to get a wholesale deal, my first month I’m starting with SMS and cold calling and I’d like to reach about 10,000 people and I’m nervous that I should be trying to reach more. I have a good team helping me, I have a good system, I’m confident in my ability to talk to sellers because I’m a real estate agent and just am nervous that I should be trying to reach more people. My market is houston text. Thanks!
I’m a few days away from starting my first marketing campaign and I was wondering if anyone could tell me how many leads I need in order to get a wholesale deal, my first month I’m starting with SMS and cold calling and I’d like to reach about 10,000 people and I’m nervous that I should be trying to reach more. I have a good team helping me, I have a good system, I’m confident in my ability to talk to sellers because I’m a real estate agent and just am nervous that I should be trying to reach more people. My market is houston text. Thanks!
Wait .. all...
This entire question is wrong.
See, be careful when you say Every 1000, gets you a deal.
Most of you are implying "Law Of Avereges".
Law of averages state that something has a higher probability of happening because of the expectation it has to happen because it didn't happen yet.
Consider this. Throw a coin in the air, and where will it land? Heads or tails?
OK now imagine you did it 10 times in a row and all 10 times it landed on "heads". Do you now increase your chance for "Tail" just because it landed on heads 10 times already?
NO! This experienent has no "memory". Every time you toss the coin, the experiment starts over. 50/50 every time.
Not because you send out 3000 mailers does it mean you WILL make 1 deal.
If you have a motivated (enough) seller in your list, sure, perhaps... but who told you that if you send 1000 mailers there is one motivated seller, in the mix, and if you send 10,000 mailers you have 10 motivated sellers in that list? Pretty dumb and stupid analogy right?
So to answer your question... likse some people said abolve.. it depends.
On your list
On time of arrival of maielrs
Luck the selelr will see the mailer
Luck the seller will be in a good enough mood to entertain the mailer.
I can go on and on.
So how many mailers do you need to sent?
THAT is why I crap on DMM, cold calling and texting so much.
There is no "intelligence" to those kind of marketing. It is PURE LUCK!!!
In sales your numbers work like, you get 1000 prospects before you even have leads. Of those 1000, 10 might be leads. Of those 10, 5 will need long term follow up, 3 will be tire kickers, and 2 will have actual immediate interest but only 1 will pull a trigger.
The solution is always a bigger pipeline.
@Nate Sanow would you say that 1000 prospects is a good number to get 1 wholesale deal, I’ve seen a lot of people say 1000 prospects is a good number to get a deal but I’m curious how true that is?
@Jon LaBorde An estimate like that is going to be useless for you because it depends on so many factors. Your location, your list, your approach, market conditions, time of year etc.
The only thing I can tell you with 100% certainty is you'll need to SMS a lot more people than you will need to cold call.
@Nate Sanow would you say that 1000 prospects is a good number to get 1 wholesale deal, I’ve seen a lot of people say 1000 prospects is a good number to get a deal but I’m curious how true that is?
@Jon LaBorde yes it is possible. There are variables involved, and there’s of course skill and effort required not just calls. Who knows the deal could come on the first 100 calls, and then the next 300, but then not for another 1500. Then, dividing leads into categories where they say “yeah I might sell in 6 months “ and following up with the people in 6 months, that is the real recipe.
1......to infinity. There is no possible way, you can rationally estimate (guess), which one out of how ever many others may say it takes, you hit on. It could be the first, the last, or any of them in between. Why does it matter?
My first answer is nobody knows.
I have got several deals in couple of days before. I have also went a month or two without scoring a deal. If you’re in a hurry to find a deal fast then you might be going at it with too much desperation that a seller can feel and get nervous about.
P.S I am a direct buyer or not a Whole Seller. So if all you’re looking for is to put a property under contract that won’t be hard. Simply agree to pay too much and get it under contract and then call around and waste everybody’s time trying to unload it to end Buyer. So really getting contracts Is a piece of cake getting good contracts there’s another story.
I’m a few days away from starting my first marketing campaign and I was wondering if anyone could tell me how many leads I need in order to get a wholesale deal, my first month I’m starting with SMS and cold calling and I’d like to reach about 10,000 people and I’m nervous that I should be trying to reach more. I have a good team helping me, I have a good system, I’m confident in my ability to talk to sellers because I’m a real estate agent and just am nervous that I should be trying to reach more people. My market is houston text. Thanks!
Wait .. all...
This entire question is wrong.
See, be careful when you say Every 1000, gets you a deal.
Most of you are implying "Law Of Avereges".
Law of averages state that something has a higher probability of happening because of the expectation it has to happen because it didn't happen yet.
Consider this. Throw a coin in the air, and where will it land? Heads or tails?
OK now imagine you did it 10 times in a row and all 10 times it landed on "heads". Do you now increase your chance for "Tail" just because it landed on heads 10 times already?
NO! This experienent has no "memory". Every time you toss the coin, the experiment starts over. 50/50 every time.
Not because you send out 3000 mailers does it mean you WILL make 1 deal.
If you have a motivated (enough) seller in your list, sure, perhaps... but who told you that if you send 1000 mailers there is one motivated seller, in the mix, and if you send 10,000 mailers you have 10 motivated sellers in that list? Pretty dumb and stupid analogy right?
So to answer your question... likse some people said abolve.. it depends.
On your list
On time of arrival of maielrs
Luck the selelr will see the mailer
Luck the seller will be in a good enough mood to entertain the mailer.
I can go on and on.
So how many mailers do you need to sent?
THAT is why I crap on DMM, cold calling and texting so much.
There is no "intelligence" to those kind of marketing. It is PURE LUCK!!!
It's not how many, it's how good you are at closing. You could convert every single lead you get in your funnel if you really wanted to
Industry standard is about 50-100 leads (not prospects ie size of list) to a contract. In my business for example we texted about 35k people last month and got 163 leads and about 3 contracts out of that.
Industry standard is about 50-100 leads (not prospects ie size of list) to a contract. In my business for example we texted about 35k people last month and got 163 leads and about 3 contracts out of that.
I’m a few days away from starting my first marketing campaign and I was wondering if anyone could tell me how many leads I need in order to get a wholesale deal, my first month I’m starting with SMS and cold calling and I’d like to reach about 10,000 people and I’m nervous that I should be trying to reach more. I have a good team helping me, I have a good system, I’m confident in my ability to talk to sellers because I’m a real estate agent and just am nervous that I should be trying to reach more people. My market is houston text. Thanks!
Wait .. all...
This entire question is wrong.
See, be careful when you say Every 1000, gets you a deal.
Most of you are implying "Law Of Avereges".
Law of averages state that something has a higher probability of happening because of the expectation it has to happen because it didn't happen yet.
Consider this. Throw a coin in the air, and where will it land? Heads or tails?
OK now imagine you did it 10 times in a row and all 10 times it landed on "heads". Do you now increase your chance for "Tail" just because it landed on heads 10 times already?
NO! This experienent has no "memory". Every time you toss the coin, the experiment starts over. 50/50 every time.
Not because you send out 3000 mailers does it mean you WILL make 1 deal.
If you have a motivated (enough) seller in your list, sure, perhaps... but who told you that if you send 1000 mailers there is one motivated seller, in the mix, and if you send 10,000 mailers you have 10 motivated sellers in that list? Pretty dumb and stupid analogy right?
So to answer your question... likse some people said abolve.. it depends.
On your list
On time of arrival of maielrs
Luck the selelr will see the mailer
Luck the seller will be in a good enough mood to entertain the mailer.
I can go on and on.
So how many mailers do you need to sent?
THAT is why I crap on DMM, cold calling and texting so much.
There is no "intelligence" to those kind of marketing. It is PURE LUCK!!!
I’m a few days away from starting my first marketing campaign and I was wondering if anyone could tell me how many leads I need in order to get a wholesale deal, my first month I’m starting with SMS and cold calling and I’d like to reach about 10,000 people and I’m nervous that I should be trying to reach more. I have a good team helping me, I have a good system, I’m confident in my ability to talk to sellers because I’m a real estate agent and just am nervous that I should be trying to reach more people. My market is houston text. Thanks!
Wait .. all...
This entire question is wrong.
See, be careful when you say Every 1000, gets you a deal.
Most of you are implying "Law Of Avereges".
Law of averages state that something has a higher probability of happening because of the expectation it has to happen because it didn't happen yet.
Consider this. Throw a coin in the air, and where will it land? Heads or tails?
OK now imagine you did it 10 times in a row and all 10 times it landed on "heads". Do you now increase your chance for "Tail" just because it landed on heads 10 times already?
NO! This experienent has no "memory". Every time you toss the coin, the experiment starts over. 50/50 every time.
Not because you send out 3000 mailers does it mean you WILL make 1 deal.
If you have a motivated (enough) seller in your list, sure, perhaps... but who told you that if you send 1000 mailers there is one motivated seller, in the mix, and if you send 10,000 mailers you have 10 motivated sellers in that list? Pretty dumb and stupid analogy right?
So to answer your question... likse some people said abolve.. it depends.
On your list
On time of arrival of maielrs
Luck the selelr will see the mailer
Luck the seller will be in a good enough mood to entertain the mailer.
I can go on and on.
So how many mailers do you need to sent?
THAT is why I crap on DMM, cold calling and texting so much.
There is no "intelligence" to those kind of marketing. It is PURE LUCK!!!
We should meet one day my dude!
I’m a few days away from starting my first marketing campaign and I was wondering if anyone could tell me how many leads I need in order to get a wholesale deal, my first month I’m starting with SMS and cold calling and I’d like to reach about 10,000 people and I’m nervous that I should be trying to reach more. I have a good team helping me, I have a good system, I’m confident in my ability to talk to sellers because I’m a real estate agent and just am nervous that I should be trying to reach more people. My market is houston text. Thanks!
Wait .. all...
This entire question is wrong.
See, be careful when you say Every 1000, gets you a deal.
Most of you are implying "Law Of Avereges".
Law of averages state that something has a higher probability of happening because of the expectation it has to happen because it didn't happen yet.
Consider this. Throw a coin in the air, and where will it land? Heads or tails?
OK now imagine you did it 10 times in a row and all 10 times it landed on "heads". Do you now increase your chance for "Tail" just because it landed on heads 10 times already?
NO! This experienent has no "memory". Every time you toss the coin, the experiment starts over. 50/50 every time.
Not because you send out 3000 mailers does it mean you WILL make 1 deal.
If you have a motivated (enough) seller in your list, sure, perhaps... but who told you that if you send 1000 mailers there is one motivated seller, in the mix, and if you send 10,000 mailers you have 10 motivated sellers in that list? Pretty dumb and stupid analogy right?
So to answer your question... likse some people said abolve.. it depends.
On your list
On time of arrival of maielrs
Luck the selelr will see the mailer
Luck the seller will be in a good enough mood to entertain the mailer.
I can go on and on.
So how many mailers do you need to sent?
THAT is why I crap on DMM, cold calling and texting so much.
There is no "intelligence" to those kind of marketing. It is PURE LUCK!!!
We should meet one day my dude!
@Jerryll Noorden I agree. I have a property in Spring and let me tell you, I have had no end in cold calls and texts. Plus, with my name being the “John Doe” of the Hispanic population, I seem to get this crap often. If you used me as your target audience of finding a deal, I would tell you chances are zero. I don’t know if your call is a scam or legit. I don’t have any history with you and would be apprehensive about any promises you made to me. Basically, I would chalk you up to being a scammer before I entertained you seriously. That is why everyone here is emphasizing relationships and networking. I do business with people I have met before, not the sudden opportunist who wants a deal.
@Jerryll Noorden I agree. I have a property in Spring and let me tell you, I have had no end in cold calls and texts. Plus, with my name being the “John Doe” of the Hispanic population, I seem to get this crap often. If you used me as your target audience of finding a deal, I would tell you chances are zero. I don’t know if your call is a scam or legit. I don’t have any history with you and would be apprehensive about any promises you made to me. Basically, I would chalk you up to being a scammer before I entertained you seriously. That is why everyone here is emphasizing relationships and networking. I do business with people I have met before, not the sudden opportunist who wants a deal.
Dude... your name is JUAN Hernandez!!
DUUUDE you are the ultimate spy, the camelion of camelions, the Ninja master. NO ONE can find you!!
Thats friggin awesome!!
@Jerryll Noorden the way you explained it was easily the best way I’ve heard it explained but the best way I can describe what I was told was “if you get a list of 1000-2000 there’s a 99% chance that you’ll get a deal, I’m not looking for a guarantee because I know it doesn’t work like that but I’m new at this and I’d like to get a running start so that being said I said I’d reach out to 10,000 people just to make my chances 99.99 if you know what I mean. I know nothing is guaranteed, especially with the way real estate is today but I was only asking this question to see if my plan sounded good and if reaching out to that many people did in fact give me a really good chance at finding a deal. Thanks Jerryll and I hope you can give me the answer I’m looking for!
@Jerryll Noorden the way you explained it was easily the best way I’ve heard it explained but the best way I can describe what I was told was “if you get a list of 1000-2000 there’s a 99% chance that you’ll get a deal, I’m not looking for a guarantee because I know it doesn’t work like that but I’m new at this and I’d like to get a running start so that being said I said I’d reach out to 10,000 people just to make my chances 99.99 if you know what I mean. I know nothing is guaranteed, especially with the way real estate is today but I was only asking this question to see if my plan sounded good and if reaching out to that many people did in fact give me a really good chance at finding a deal. Thanks Jerryll and I hope you can give me the answer I’m looking for!
Hey man. Thanks for that.
So.. here is the flaw in what you have quoted. Remember, for any claim, if you can just find one case where that proposed claim does not work it is enough to prove that claim is false.
So consider this.
They it was told toy uo by others is inherently flawed simply by this fact:
If I give you a list of 18 year old people that don't own a house... and that list is 2000 contacts large, how many deals are you going to make? Zero.
I know I know it was an exxaggerated example, and totlaly unfair example. But that is my point. It is not the qualtity of the people on the list that "guarantees" a deal.. it is the qualirty of the list right?
So that alone is evidence that what you have been told is wrong.
Secondly.. if it is 99% accurate that a list of 2K gets you a deal.. what stops EVERYONE to get a list and thus that means Guaranteed success. Remember.. what they are saying is that if you give 100 people a list of 2K 99 people will make a deal. That is just not realistic.
To illustrate this.. lets run this experiemtn.
Imagine me giving 4000 people, that same list of 2000 contacts... what your claim then states... that pretty much 4000 people will all make a deal from 2000 leads.
So 2 different people make a deal from ONE single house.
So that too is proven wrong.
So the way THEY told you that claim is completely wrong, and logically impossible. Nowhere in their claim is there any mention of how many people get that list.. so all this does matter.
Lastly I am willing to bet there are plenty of people that have send 2K mailers and not gotten any deals... so tha claim truly is factually wrong.
So does your plan sound good...
In my opinion it doesn't sound good... BUT it is feasible. See I am a different breed. My leads come to me. I do not look for or go after the leads because of ONE thing I keep on preaching. You CAN NOT find motivated sellers. NO list can get you motivated sellers. Doesn't exist.. can you get lucky? ABSOLUTELY. The more people on your list the luckier you can get. That is why I say I don't think it is a good plan (for my lead generation standards) BUT you will more than likely get lucky and snag one deal... or 2
@Jerryll Noorden ok that sounds good, but currently I’m just trying to get my foot in the door, so I’m not expecting to become a millionaire from this plan and by no means am I expecting this to work as my only marketing route in the business for more than a time or two, but I’d just like to get started in wholesaling and with this information I think it gave me everything I need l and I’m thinking I’m gonna give this plan a shot but I’ll definitely be looking to expand and adapt as I grow as a wholesaler. Thank you once again and you’ve been really helpful in figuring all this out!
@Jerryll Noorden ok that sounds good, but currently I’m just trying to get my foot in the door, so I’m not expecting to become a millionaire from this plan and by no means am I expecting this to work as my only marketing route in the business for more than a time or two, but I’d just like to get started in wholesaling and with this information I think it gave me everything I need l and I’m thinking I’m gonna give this plan a shot but I’ll definitely be looking to expand and adapt as I grow as a wholesaler. Thank you once again and you’ve been really helpful in figuring all this out!
Good luck my dude!
@Jon LaBorde An estimate like that is going to be useless for you because it depends on so many factors. Your location, your list, your approach, market conditions, time of year etc.
The only thing I can tell you with 100% certainty is you'll need to SMS a lot more people than you will need to cold call.