People that do wholesaling, what's are 3 best sources of leads that you close on

23 Replies

I'm curious to know from people that did at least 10 wholesales, what are 3 best sources of leads that you bought houses from and then wholesaled them

1.Direct Mail

2.Driving for dollars

3.Partnering

Any where you go ... always, always, always keep your eyes open and be alert to vacant houses.

yellow letters

follow up

What do you guys mean by other wholesalers?  Are you trying to work with them to co-wholesale deals?

@Pavel Sakurets Keep in mind, something that worked for someone else may not work for you. Personally my partners and I get a lot of business from referrals (other investors who can't do a project will send us the sellers number). We also use probates as well as MLS. That being said, we have done a few deals by driving for dollars, or calling "For Rent" signs around the area. Sometimes landlords may be sick of dealing with the property and they just want to get out of it, rather than rent.

@Nick Mainella  Other wholesalers can be very helpful in moving deals.  We have a good relationship with a few around town and they help us move our properties.  Sometimes they will tack on a few thousand for themselves, or we will break them off a bit of our profit.  If you build rapport with other wholesalers in your area, they can really be an asset when it comes to buying and selling.  

Update on Radio advertising: 

I advertised for 3 dyas Monday through Wednesday at WCCO this  week, cost $1200 for 3 days.

This is what my 30 seconds ad says: If you want to sell your property fast at top dollar, call Real Estate Liquidators today, they are a licensed local Co and will provide you with a fair cash offer within 24 hours. Have you tried selling before and could't, does your property need repairs, are you tired of being a landlord? Call (this number) or submit your info online at www.RealEstateLiquidators.com  Real Estate Liquidators, we create win-win transactions!

Within 3 days, 3 people called (one wanted too much, second was already working with a realtor who she wanted to fire, 3rd was a seller of a commercial hotel/farm 75 miles from Mpls (motivated seller) but I don't want to go farther than 30 miles from Mpls.

Will provide additional feedback after 2 more weeks

1. For Sale By Owners/ For Rent By Owners

2. MLS and Expired Deals

3.  Center of Influence (Other Wholesalers and Realtor® brought deals) 

Hope it helps!

Originally posted by @Dean Letfus :

Craigslist, bird doggers and a great agent

 I've tried Craigslist a bunch, but with no results. Any tips on finding good deals on Craigslist? 

Work harder than other people which means trolling through all the spam. A few things I do:

1. Look for regular multiple scam posters who clog up the feed, by searching on their phone number and reporting each and every post till they get banned.

2. Most leads come from private sellers who don;t really know how to use Craigs so their listings are often in the wrong place. Garage sales and general for sale. i search for house and house for sale and private sale under those other categories.

Int he actual real estate for sale you just follow up every lead and every XX in a hundred will be a deal. You could pay someone to ring them for you.

Dean Letfus, Memphisinvestment.com | 901 264 8674 | http://memphisinvestment.com/

FSBO for the most part via the internet or/and signs on the lawn. I get many referrals from other wholesalers and a few r.e. agents. It depends on your niche for example if you prefer short sales then you will likely secure the best leads from agents if not the actual bank and even the homeowner themselves. Maybe you are more into sheriff sales / tax liens so you mostly get a heads up from the county's sheriff office when new product becomes available. Different counties work differently. I used to be on the sheriff sale mailing list in Philly and they had a catelog of houses that came out monthly. If you have a website you might get a few dozen leads a month from that. My coin.

Kudos,

Mary

Just last Friday, I saw a FR(ent)BO sign and called the owner. He said he was really interested in selling (and tired of renting) and less for market value (motivated seller). I still have yet to do any research as my weekend was busy.

The house is in good condition, but needs some updating and the flow is weird, but doable. 

So, it just goes to show that any lead can turn into a possibility. You may even have to direct the conversation of have it fall in your lap like it did with me.

Good fortunes

John

Originally posted by @Pavel Sakurets :

Update on Radio advertising: 

I advertised for 3 dyas Monday through Wednesday at WCCO this  week, cost $1200 for 3 days.

This is what my 30 seconds ad says: If you want to sell your property fast at top dollar, call Real Estate Liquidators today, they are a licensed local Co and will provide you with a fair cash offer within 24 hours. Have you tried selling before and could't, does your property need repairs, are you tired of being a landlord? Call (this number) or submit your info online at http://www.realestateliquidators.com Real Estate Liquidators, we create win-win transactions!

Within 3 days, 3 people called (one wanted too much, second was already working with a realtor who she wanted to fire, 3rd was a seller of a commercial hotel/farm 75 miles from Mpls (motivated seller) but I don't want to go farther than 30 miles from Mpls.

Will provide additional feedback after 2 more weeks

 @pavel Sakurets

Hello Pavel. 

Just curious how the radio ads went. I'm thinking of possibly taking a stab at it. I hope it all worked out.

Originally posted by @Account Closed :
Originally posted by @Pavel Sakurets:

Update on Radio advertising: 

I advertised for 3 dyas Monday through Wednesday at WCCO this  week, cost $1200 for 3 days.

This is what my 30 seconds ad says: If you want to sell your property fast at top dollar, call Real Estate Liquidators today, they are a licensed local Co and will provide you with a fair cash offer within 24 hours. Have you tried selling before and could't, does your property need repairs, are you tired of being a landlord? Call (this number) or submit your info online at http://www.realestateliquidators.com Real Estate Liquidators, we create win-win transactions!

Within 3 days, 3 people called (one wanted too much, second was already working with a realtor who she wanted to fire, 3rd was a seller of a commercial hotel/farm 75 miles from Mpls (motivated seller) but I don't want to go farther than 30 miles from Mpls.

Will provide additional feedback after 2 more weeks

 @pavel Sakurets

Hello Pavel. 

Just curious how the radio ads went. I'm thinking of possibly taking a stab at it. I hope it all worked out.

 Radio  advertising sucked, we spent 10k advertising for 3 weeks. And I made it very clear to the person who I bought the ad space from, if we close one deal from advertising, I would sign a contract for 6 months. Got only 10 or 12 calls and from people that called us all of them tried selling before through mls.

To summarize this discussion here are the statistics for the best way to get deals from this feed.

#1 Networking (with wholesalers, agents and bird dogs)

#2 Yellow letters (What kind? Absentee? Probates? High Equity? Delinquent in property taxes? Preforeclosures? Vacant? Divorced? Bankruptcy? Code Violations? Evictions?)

#3 Expired listings on MLS

#4 Well optimized website

#5 CL

#6 FSBOs

#7 Driving for dollars.

I noticed a few mention Craigslist.... What are you looking for on there? FSBO properties?

Originally posted by @Stephen Nicholson :

I noticed a few mention Craigslist.... What are you looking for on there? FSBO properties?

We post ads on CL that we buy houses and sellers contact us.

I have never purchased a property from CL where I called and asked a seller to sell. (In my opinion, its a waste of time). When sellers call you of your ads, this means that they are motivated to sell.

@Pavel Sakurets that was a lot of $ on those ads.

Do u think it would have helped if you spaced it out more, maybe on weekends only for a couple months? Maybe that would have given it time to build with the listeners.

I was going to try talk radio and Gospel radio as well, but you results scare me, lol.