Are these a good KPIs as a beginner wholesaler?

Question

Using the high volume approach, I generated 182 leads in a day, called 17 sellers from the 182 leads, left 10 voicemails, 4 chats, and got 1 "meaningful conversation" with the 4 pillars check, and 1 offer made with a follow up, and I also comped the lead with 3 comps and calculated the ARV for the MAO and did repair estimates in the same day. I called the next day and made a call for the follow up. I didn't get to call the other leads because I spent all day generating the 182 leads until 5:30pm and then I started to call sellers and on the 18th call I got to have the "meaningful conversation" with a seller.

The seller I talked to the following day for the follow up with the MAO I had ready to tell him about, when I got on the phone with him he said that he had "already signed a contract", I am assuming with another wholesaler. His motivation was that his daughter had moved out of this house and wanted to sell the house fast, and the condition was that there was a roof that has been leaking since 2017. His timeline said he wanted to sell the house as quick as possible. So what I learned from that is Speed-To-Lead, I should have called that same night, but decided to call the next day to not interrupt his night. But am planning to follow up with him in 10-20 days incase the deal falls through.

Is this good KPI for a beginner wholesaler?The metrics that Gemini AI told me were:

Metric                           My Session:                 Beginner Avg:                                    Pro Benchmark:

Call-To-Conversion    6% (1 in 17)                  2%                                                        5%

Conversion-To-Offer 100% (1 in 1)                20%                                                      50%

Technical Work           Full MAO/repair         Guessing                                             Rapid Underwriting

Follow Up                    Next Day                      3+ Days Later                                     Within 2 hours

But I worked for 5 days in total, I skipped 5 days because I was studied up a bit more.

For the 5 days in total these are my KPIs:

I called 338 sellers, left 102 voicemails, I had 18 chats, 2 "meaningful conversations" and 2 offers, and 1 interested follow up.

So my question is are these good metrics? And if I keep these KPIs up, obviously with at least 3+ more "meaningful conversations" and 50+ more dials a day, with follow up calls also. Will this land me a job in a company for wholesale real estate? Or should I just keep doing this as an independent wholesaler?

Caleb Brown · Answer

Looks good, nice work! The perk of joining a larger wholesaler is they can funnel you leads and training. I think you are on a good trajectory where that's not necessarily needed unless you wanted to fast track yourself. I would think your pay wouldn't be as high compared to going solo. Seems like you are contacting leads. It's always good to review your script as you continue to call.

Arthur Hernandez · Answer

I used the high volume approach, I didn't find the 3-5 comps for each lead. What I did is use propwire since I don't have PropStream, and use pre-foreclosure and single-family houses in a city like Toledo, OH. I used outbound channel by using propwire and skip tracing there addresses and calling them. I just generated the leads by writing down the address, the price, the skip traced phone number, their full name. And that's how I got the 182 leads in a day. And when I called the 18th lead and got him on the phone and I did the 4 pillars check and he was interested, I then I got on Zillow, Redfin, and Realtor to look at the subject property and the 3 comps to get the ARV for the MAO and calculate the repair cost.

Jack T. · Answer

It's semantics. In my business a lead is someone whom we spoke to and expressed interest in selling. A property address is just that, an address. But the main thing that counts, is that you are calling, following up, making offers and tracking. Which you are doing!

Arthur Hernandez · Answer

@Jack T. Yes I live in the US. And I did not make any calls to get the 182 leads.

And I used a web app called propwire.com it's similar to PropStream a bit. I used propwire.com to search for properties for a city and chose properties and copied and pasted the address to skip trace the address. I then got the phone number and full name went back to propwire and wrote down the address, estimated price. I did this until I got 182 leads, which tomorrow I plan to just get 150 of these leads and 50 dials and 20 follow-up dials. They are cold leads or leads that have not been converted into a qualified lead with the 4 pillars check and been comped with 3-5 comps to get the ARV and MAO with the repair cost. So basically what I am going to do is what I just explained above, and at 5:00pm tomorrow after I have generated the cold leads, I will call 50+ dials to get a seller on the phone and if he/she is interested after the 4 pillars check, I am going to tell them I will call them back in 2 hours and within these 2 hours I will find the 3 comps, get the ARV and MAO, and the repair costs estimates. Then I call back and tell them I ran the numbers and found a number for an offer and hopefully I can have them sign a contract, if they don't then I will tell them I will follow up with he/she in 10-20 days to see if the have sold their property, so I can be a back up plan.In 5 days I generated 338 leads, but I only called 17 sellers out of the 182 leads, I didn't get to call the entire lead list that day. So really I even though I generated 338 leads in 5 days, I still have 164 leads to call tomorrow morning. I really only generated 256 leads in 4 days and had 18 chats and 1 "meaningful conversation" and 1 offer. And on day 5 I generated the 182 leads, called 17 sellers, 1 "meaningful conversation", 1 follow-up, and 1 offer.

I did not use D4D. I use the dropdown menus from propwire for lead types (pre-foreclosure) and property types (single-family homes). I don't generate lists, I think it is easier to download the CSV file from propwire but I am not sure why I don't do it. I like the web UI better I guess. Once I have enough money for a dialer system like Kixie.com or better, then uploading a list downloaded from PropStream will be a lot more better and way more faster and easier.

From what I understand the correct way of generating leads is to find a property on PropStream (or propwire.com) and find 3 comps, get the ARV and MAO, and repair estimates. I should only get 20-45 leads like this in a day, that are fully verified with comps/ARV/MAO/repair estimates. Then I call the seller and do the 4 pillars check, and offer him the price at the end and have him sign a contract or follow up with him/her.

So is this still okay?

Dominic Mazzarella · Answer

It seems like you're moving in the right direction by tracking your calls and leads,that’s basic but essential. That said, 182 leads with only one meaningful conversation is a bit low. I’d also caution that calling next day instead of same day can cost you deals, especially with motivated sellers who are under pressure to sell fast.

Another angle worth checking is local code enforcement data to spot distressed or neglected properties before others do. As for landing a company wholesale gig, the volume is important, but so is your ability to consistently find motivated sellers and close deals.

Arthur Hernandez · Answer

Account Closed So start adding "leads to contract" metric? And focus on quality lists before scaling the volume. Thank you. This helped me out a lot.

Arthur Hernandez · Answer

@Jack T. Okay. Thanks for your answer!

Arthur Hernandez · Answer

@Jack T. Isn't a cold lead a seller who hasn't been contacted yet. And a qualified lead is a seller who has been contacted and has had the 4 pillars check and then you call them 2 hours later after you have verified with comps/ARV/MAO/repair costs. And a warm lead is someone who has shown interest and should be contacted with an offer but is not willing to sign a contract yet. And a hot lead is a seller who has qualified and ready to sign a contract.

Jack T. · Answer

I just saw your middle post above. So it sounds like the 182 leads were an initial list of properties to reach out to. Was that from Driving for Dollars? What was the criteria to get those 182? It would depend on the type of list you're generating. Some will be high quality with motivation and some won't.

But to answer your question, if you continue taking action like this you will have no problem getting a job. That being said, it's not clear what type of job you're looking for and at what type of company.

Are these a good KPIs as a beginner wholesaler?

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