Specialist · FL · Member since 2022 · 37 posts · 22 votes
When I first started my investing career, I started with DealMachine and was sending out Direct Mail Marketing. I probably sent thousands of mail and got little to no response. I moved over to BatchLeads to do SMS campaigns and receive a much higher response rate (even if it is a no). I was wondering what other softwares are out there (like maybe ListSource) that wholesalers use for lead generation?
Pulling theses lists from Propstream has worked well for us (Vacant, Liens, High Equity, Non Owner Occupied, etc). And we mostly work more "B" markets, i.e. the cities that are a one-to-three hour drive away from a huge city. Cold Calling has worked best. Direct mail has a very low response rate and I mostly just see the big boys who are going 7 figures do it, who don't mind spending 10-20k+ month on blowing out towns of letters/postcards.
Cold calling and door knocking. These will always be the best way to generate leads.
I beg to differ.
Personally I feel people need to be a bit more discriminative when using words like "best".
"Best" based on what exactly?
Secondly, it is not about "generating leads", it is about generation deals. For this you need to generate MOTIVATED seller leads.
See what cold claling and driving for dollars is doing is you finding "people". RANDOME people. And only after you spend time, money and effort, finding "people" will you ask them "hey sell me your house".
Now, how many people do you need to ask this question before you not only get a "yes"... BUT how many people do you need to ask before you get a DEAL CLOSED. THAT is the true metric right? Leads mean nothing. Deals do!
So agai.. based on what exactly do you call cold claling and driving for dolalrs the "best" way to get leads?
See my point? This is severely misleading people that truly come here to learn. Leave opinions alone, and come with data., Come with facts, evidence.
SEO for example, get the best possible quality leads and it is free... but it takes time.
Paid marketing gets you .. "OK" leads, but it is expensive.
Cold calling gets you crap leads, takes a ton of work, but it is cheap.
Driving for dollars is the same as cold calling.
Cold calling and driving for dollars CERTAINLY are not the best ways to generate leads by any means. The data says so!
Pulling theses lists from Propstream has worked well for us (Vacant, Liens, High Equity, Non Owner Occupied, etc). And we mostly work more "B" markets, i.e. the cities that are a one-to-three hour drive away from a huge city. Cold Calling has worked best. Direct mail has a very low response rate and I mostly just see the big boys who are going 7 figures do it, who don't mind spending 10-20k+ month on blowing out towns of letters/postcards.
I’ve had a bad experience with Dealmachine, which also owns Batchleads. The data wasn’t useful in my smaller market and customer service was no help, they mostly seemed interested in upselling and refused any type of refund.
For marketing, I don't think you should focus on what works the best because that is very subjective. When starting out, I would rather you focus on a marketing approach that you will be consistent with for 5-6 months. This will ensure the highest probability of success for you. Also, as a direct mail "expert", I would say that direct mail works well when done properly. I don't recommend that investors send mail to everyone, but really hone in on their best quality prospects to send direct mail to.
Let me know if you have any questions. I'm always happy to help.