Driving for dollars!
I am a wholesaler and lately I have been driving for dollars to find good deals on houses. I take pictures and I send them a letter. I did't get any call backs after sending 200 letters. What am I doing wrong? Does any one have any ideas that would help me get call backs? Thanks in advance!
Most likely nothing, wholesaling is hard; response rate is going to be 1% on a good day 200 letters is likely not a large enough sample size.
I’ve found the simple handwritten letters get me the best response. “My name is ——- I was curious if you would consider an offer on your property at 1234 main st.” Most are tire kickers who don’t need to sell but I’ve got 3 good leads in 30 days sending 20 letters a day.
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Originally posted by @Maria Walker:
I am a wholesaler and lately I have been driving for dollars to find good deals on houses. I take pictures and I send them a letter. I did't get any call backs after sending 200 letters. What am I doing wrong? Does any one have any ideas that would help me get call backs? Thanks in advance!
You are doing NOTHING wrong.
Keep this in mind. When I send out 5000 mailers I get about 50 to 120 phone calls
So that means for about every 100 mailers I get 1 call.
Those numbers are very normal. I would look into a more efficient way to get leads..
website!!!!
@Maria Walker In my humble opinion mailing letters is dead and a huge waste of time and money. No one mails letters to connect with people anymore. We are all on Facebook, Instagram and on our phones/computers. What I do when I drive for dollars is write the address down, and then look them up on the county tax assessors website and get the owners information. If the owner is out of state and/or owes taxes they go on the top of the list. I then skip trace these owners and get their phone numbers and send them a voicemail through slybroadcast and send them a follow up text a day later. We have gotten about a 70% response rate from doing this. Mail is more expensive and we maybe get a 1% response rate. I firmly believe in the 80/20 rule and that's why we are all in with calling, texting and using Facebook advertisements. Why waste time on 80% of the work that is producing 20% of the results? It's so much more time consuming and isn't as effective. I believe that is an old way that used to work, but times are changing and if people want to keep up they need to change too. Everyone works differently and has success using different methods but I personally don't know anyone who is "successful" in my area that only sends mailers. You have to send them a mailer 3-6 times for your response rate to increase. Why would you waste that time and money when you could get the same response rate from a simple phone call and text message? Just my 2 cents and some food for thought. Good luck and don't quit! That is the biggest thing NEVER GIVE UP! Persistence beats resistance.
Maria Walker if you’re going to mail letters I suggest mailing in the 3-5000 range. 200 is way to small. If everything goes perfect you could assume 1 response rate which would be 2 calls. Of which most likely neither would be a deal (statistically speaking).