How should I target my wholesale leads?

12 Replies

I just got about 400,000 leads of absentee owners for $185 from 8 different property appraisers. The owners mailing addresses are all over the country and even in to Europe, China, and Africa.

How should I choose? I can only afford to send out to a few thousand.

Should I stick to the United States (there's a lot of Puerto Rico)? Should I target the zip codes in poorer areas?

Wow, 400,000 leads. You're gonna be busy!

If you are newer you may want to start mailing around your area. In the beginning you typically want to be able to go out and look at the properties so that you can learn more and so that you can better estimate the repair costs (so that your cash buyers don't get angry at you because you sent them a bad deal). 

After you have mastered that, I would mail in the areas where my cash buyers are and start to build your cash buyers list in the areas where you have a lot of leads. Then mail to those areas.

You may be able to make arrangements with contractors in distant areas to give you a quote for the rehab costs on potential deals so that you can present that to the cash buyers (so that you would have a close estimate). In return you would recommend them to the buyer.

Where are the properties located?

Sounds just like random absentee owner leads and 400k is insane. I would personally scrap that list and call a list provider to get a more targeted list. You say you want to wholesale then most of those leads will be dead you need to know how long ago the property transferred to ensure they have some level of equity, you want to make sure your not mailing to vacant land or properties, wrong price ranges, and you want to be area specific. Plus you want to touch each lead around 6 times if possible. 

Originally posted by @Account Closed :

Where are the properties located?

All of these properties are in the 8 nearest counties to Orlando, FL

Originally posted by @Sam T. :

Sounds just like random absentee owner leads and 400k is insane. I would personally scrap that list and call a list provider to get a more targeted list. You say you want to wholesale then most of those leads will be dead you need to know how long ago the property transferred to ensure they have some level of equity, you want to make sure your not mailing to vacant land or properties, wrong price ranges, and you want to be area specific. Plus you want to touch each lead around 6 times if possible. 

How long ago should the property have transferred to ensure that they have a good amount of equity?

It's not random, it's from the county property appraiser. I would imagine that's the source that the leads providers such as listsource.com get it from.

I understand its the same info but what I mean by random is that its not sorted and having to comb through it would not be time well spent for me personally. I like to mail to owners with a decent amount of equity so normally 2000 and back but there is more than one way to bake a cake. Good Luck - Sam 

Target the ones that are at least 3br/2ba as that is the most sought after type of house. Pick the area closest to you and mail out as many as you can afford. 

Originally posted by @Sam T. :

I understand its the same info but what I mean by random is that its not sorted and having to comb through it would not be time well spent for me personally. I like to mail to owners with a decent amount of equity so normally 2000 and back but there is more than one way to bake a cake. Good Luck - Sam 

"Comb through," means using sorting and filter functions is MS Excel. Not as hard as it seems.

Originally posted by @Account Closed :

Target the ones that are at least 3br/2ba as that is the most sought after type of house. Pick the area closest to you and mail out as many as you can afford. 

 Will do. Thanks. Hopefully, I'll be calling/emailing you with a lead shortly.

Sure anytime.

Patrick, I see that you are close to Orlando. I am hosting a local BP meeting so all the area BP'ers can meet and learn from each other. We have already had 2 of them and they were well attended. The next one is on Nov. 28 (after Thanksgiving) at 6:30 PM. Here is the details and if you plan to attend please register. https://www.biggerpockets.com/forums/521/topics/37...

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