Real Estate Wholesaling Questions & Answers

User Stats

619
Posts
74
Votes
Terry Royce
  • Real Estate Investor
  • Baltimore, MD
74
Votes |
619
Posts

Maintaining and Organizing your Buyers List

Terry Royce
  • Real Estate Investor
  • Baltimore, MD
Posted Dec 3 2009, 01:09

I noticed there are alot of posts inquiring about building buyers list.
The hardest problem I have is organizing my buyers list.

When you have 100's or 1000's of buyers what do you do to organize their wants as far as criteria, area, etc etc?

It seems most wholesalers just "blast" properties to their whole list.

I have a select handfew of serious buyers that i text, call or email if I think something fits their needs.

User Stats

8,666
Posts
4,001
Votes
Jon Klaus
  • Developer
  • Garland, TX
4,001
Votes |
8,666
Posts
Jon Klaus
  • Developer
  • Garland, TX
Replied Dec 2 2009, 21:12

Have you looked at Constant Contact or a similar service? It's fairly easy to manage contacts and categories of lists.

User Stats

619
Posts
74
Votes
Terry Royce
  • Real Estate Investor
  • Baltimore, MD
74
Votes |
619
Posts
Terry Royce
  • Real Estate Investor
  • Baltimore, MD
Replied Dec 2 2009, 21:16

Jon, yes I use constant contact, and I have a few small select lists.
But usually again just blast it out to all.

What sub lists do you have on constant contact?

User Stats

8,666
Posts
4,001
Votes
Jon Klaus
  • Developer
  • Garland, TX
4,001
Votes |
8,666
Posts
Jon Klaus
  • Developer
  • Garland, TX
Replied Dec 2 2009, 21:18

"It seems most wholesalers just "blast" properties to their whole list."

As a recipient of such blasts, I really don't mind seeing local product that does not meet my criteria. It helps me to get better knowledge of my overall market and I sometimes forward deals on to investors I think might be interested.

User Stats

619
Posts
74
Votes
Terry Royce
  • Real Estate Investor
  • Baltimore, MD
74
Votes |
619
Posts
Terry Royce
  • Real Estate Investor
  • Baltimore, MD
Replied Dec 2 2009, 21:26

Jon, I couldn't agree more about seeing things that dont meet my criteria.

However, I do see the value in having specialized lists.

I was thinking more along the lines of having an excel sheet with selective buyers and have a few columns, neighbohood, zip, min profit, max repairs,

and you could use that, but obviously the larger it gets the harder it becomes to manage

User Stats

317
Posts
78
Votes
Demos Loizides
  • Real Estate Investor
  • Dale City, VA
78
Votes |
317
Posts
Demos Loizides
  • Real Estate Investor
  • Dale City, VA
Replied Dec 3 2009, 10:17

I use Constant Contact too. It's awesome. Not only do you know who you sent your e-mails to, but you can see who opened them and who clicked on any links.

I have lists by state and buy and hold and rehabber, such as VA Rehab and VA Buy & Hold.

User Stats

71
Posts
8
Votes
Mike Tooley
  • Investor
  • Orange County, CA
8
Votes |
71
Posts
Mike Tooley
  • Investor
  • Orange County, CA
Replied Dec 3 2009, 11:32

How about ACT for Real Estate? It looks like a great product for keeping track of buyers and what they want to invest in.

I haven't used it myself since I'm just starting out, but I'm definitely gonna consider it.

Costs about $299 for the program but there are no monthly fees that I can see.

User Stats

726
Posts
284
Votes
Shane Woods
  • Real Estate Agent
  • Weatherford, TX
284
Votes |
726
Posts
Shane Woods
  • Real Estate Agent
  • Weatherford, TX
Replied Oct 28 2011, 10:51

Bumping this...what are you using to manage your list?

User Stats

51
Posts
5
Votes
Dan Schemerhorn
  • Real Estate Investor
  • Elmira, NY
5
Votes |
51
Posts
Dan Schemerhorn
  • Real Estate Investor
  • Elmira, NY
Replied Oct 28 2011, 13:26

My first statement would be why not qualify the buyers list. I can not tell you how many times I hear new and seasoned investors tell me how big their buyers list. NOT that I think you can not have a large list BUT I rather see the handful of your buyers that can actually buy and not kick tires.

I went from hundreds on my list to about 25 but those people I have very close relationships with. So it goes back to quantity vs quality.

Dan Schemerhorn

User Stats

10
Posts
0
Votes
Belgenman Neal
  • Investor
  • Abilene, TX
0
Votes |
10
Posts
Belgenman Neal
  • Investor
  • Abilene, TX
Replied Oct 31 2011, 07:45

I have not built a Buyers list, Yet I was thinking of the Same issue.

I decided the most effective cheapest and Custom way is to Hire a Database programmer.

Basically Outsource it.

User Stats

34
Posts
7
Votes
Bradley Glaves
  • Commercial Real Estate Broker
  • Bluffton, SC
7
Votes |
34
Posts
Bradley Glaves
  • Commercial Real Estate Broker
  • Bluffton, SC
Replied Oct 31 2011, 12:12

Act is still one of the better data bases but there are also some good ones on-line (SAS) you can try for free.

Glad people are focused on Buyer's Lists. Remember it's not the size of your list that matters, it's the quality of it.

20% of your list will close on 80% of your deals should you have closings. You need to get to know those 20% better and send them deals that meet their criteria. There is simply no way to be effective with extremely large lists (your just shooting in the dark) shed some light on that 20% and target what they want.

Let me know if this is helpful? Good luck, Brad