Rental Property Investor · San Diego, CA · Member since 2011 · 1k+ posts · 1k+ votes
My office gets easily 20-30 calls a week with the identical wholesaler script to "build their buyers list". Each time I ask the person if they have a deal under contract they say no, not only that they in most cases aren't even marketing for deals. I'm sorry you aren't a wholesaler, you want to be a wholesaler and you are wasting my time.
To anyone who is new at wholesaling and taking the advice to call investors and build your buyers list, you are nothing more than a telemarketer and your coach is suggesting busy work to avoid the awkward conversation that finding off-market deals is very hard. So they have you making these easy calls to feel good about blowing 5k+ on their course.
You would be 100x more successful to just call an investor and be yourself and be real and ask questions. Following a word-for-word script is not personal, doesn't build any relationship, and is annoying.
Sincerely, from someone who has wholesaled, flipped, and invested full-time since 2014 in one of the toughest markets in the US.
Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes
3y
I get more texts than calls these days: "Hey, I'm so and so who you've never met or even spoken to, got any good deals?". If I have a good flip property/ something not suitable to list on the MLS, would I offer it to some random person texting me out of the blue, or one of my trusted buyer clients who I actually know? I never even reply.
Flipper/Rehabber · Reno, NV · Member since 2017 · 110 posts · 78 votes
3y
I kind of agree. Kind of disagree. 100% its annoying and you can tell instantly that the person on the other end has never done a deal. When we moved into a different market I specifically didn't make any buyer calls until we had 2 deals in contract to assign for the same reason. Totally agree, whenever I get those calls now, I just cut them off and say hey, I get it, but finding buyers is easy. Go look for deals. That's the hard part and that's all you need to be focusing on right now.
The part of me that disagrees is being able to remember what it was like for me 5 years ago. I brought a VERY large buyer in town a deal and a week later they brought me into their office to see how THEY could help ME bring them more deals. Not the same situation as cold calling buyers at all, but still, I was brand new. I was like... **** if I know, I don't even know what I'm doing, you guys tell me!
Looking back, they didn't need to do that... like at all. They flip 300-400 houses a year with or without me. That single encounter taught me how important relationships are. I think about it all the time. Yes I brought them value via a deal and not a cold call, but they (one of the partners specifically) obviously saw value in building a relationship with a total newb. I'm hugely grateful for them helping me out and being able to lean on them when I was getting going. He knew what he was doing. Spend some time helping this kid out and he'll go lock up deals and just bring them directly to us. And that's exactly what happened.
Fast forward to today, I pay that **** forward every chance I get. 1/3 of our total gross profit for the lifetime of the flipping and wholesaling company has come from relationship based deals, which I think is pretty good being in a direct to seller model. I've brought that guy countless deals and will continue to give him exclusives in the areas he likes. Just assigned him one last week with a $50k fee on it.
Something to think about. There's definitely a happy medium for playing long through relationships with the new guys and not having to go through their script when its a 95% shot you'll never hear from them again.