Driving for Dollar Leads

[Courtney Fricke]

I'm gearing up to jump into wholesaling to compliment my income on my rentals and flips in 2018. I have about 15-20 properties that I have noticed while driving around that either look abandoned, have notices posted, etc. What are some successful tips you've found with converting these to contracts? I'm familiar with building a MAO (maximum allowed offer) and researching the property. Once I find the owner's info, any tips? Should I target direct mail them? (not a huge fan of mass direct mailing) Should I call? Most of these homes are not owner occupied or even occupied at all. Any tips would be appreciated. Thanks in advance. Also, any recommendations on forum would be helpful. Making my way through the podcasts now since I'm new to Bigger Pockets.

[Steven J.]

@Courtney Fricke you can certainly DM these properties but don't expect much traction. Wholesalers I've talked to and heard on BP podcasts claim that if you make a 2% lead generation from mailers you're doing well! That being said, 20 properties should generate .4 calls from these leads! What a deal and thats if you're doing well! And keep in mind that this should be multiple mailers sent over time. 6-8 mailers is the prime number of hits before people actually start calling you back. With such a small amount of leads to focus on you're really limiting yourself to negotiations of just these properties where the owners might not be motivated enough until years down the road. OTO, you may find a diamond in the rough and have an owner ready to sell now!