Is driving for dollars the best for leads?
Investor · Austell, FL · Member since 2014 · 110 posts · 19 votes
Is driving for dollars the best for leads?
Most Popular Reply
Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
6yWell that’s one opinion. I think driving for dollars does two things for you. It enables you to identify potential purchases and then make contact by door knocking. Getting in front of a face works much better than mailers that end up in the trash. Sure you will get some doors slammed in your face, but that is the nature of door to door sales. Secondly, and equally as important, driving for dollars and walking the streets gives you insight and personal knowledge of the areas and your market. Knowing which streets to avoid and which to invest in are key and boots on the ground is the best for that.
As to what is the most cost effective means for lead gen - well, internet ads on Facebook, your website, etc are the most cost effective but you need people to find those listings so getting them to the top of the search engines is vital too.
31 Replies
- Realtor · Austin, TX · Member since 2018 · 154 posts · 82 votes6y
Originally posted by @Jerryll Noorden:
Originally posted by @Timothy Douglas:
Originally posted by @Bobby Valcin:
@Patricia Steiner You are correct. Taking action is key.
Let me give some background. I did a BRRRR recently on a property that went over budget a bit so the "Repeat" part of the BRRRR will have to wait a bit. I decided to start looking into wholesaling as a way to build some additional capital and also find my own deals to use to partner with some local investors.
I’m trying to figure out a good starting place, hence my original question. Taking action is not what I’m struggling with at the moment. In the interest of time, I would just prefer not to throw a bunch of stuff against the wall to see what sticks.
Has Thumbtack generates business for you?
I feel that. I want to generate capital for future investments as well. Raising money is hard for me because I haven't found a good deal and have no experience to offer investors. I recently started my LLC and come January I am going to be buying lists of distressed investors, apartment owners, pre-foreclosures etc... I can get a list of 1000 in my area for like $90.00. Then I'll be doing a direct mailing campaign. I think it's a cool way to target your efforts. The best way is to network as much as possible because that will lead to you getting deals from every direction. Also, I always hear about partnering with somebody who can find deals really well, or talking to other investors that will pass on deals they cannot afford.
A way to get capital is how I did it. Not sure if it is the best, but it worked for me.
I started wholesaling because I had no money to buy a house. I hated wholesaling and still do.. But.. I was really good at it, because I took emotion out of it (I barely use emotion for anything), and was very cold strategic robotic, all by the numbers.
I took a JV route. I asked BP if I got a good deal would anyone be interested to partnet with me and they pay everything and we split the profits. I did get someone but that didn't work out for me. I lost a lot of money.
So I do not suggest you do that.
But this is what I did after losing all that money.
I wholesaled 2 more deals, till I had enough capital to go the private money route.
So let me show you how I made $101,000.- in 4.5 months. And anyone can do this immediately right now, as long as you have access to some private money or hard money. (be informed of all the risks though). But there is no reason anyone can't do this now.
Flipped 2 houses.
One house gave us $36,000.- (a LOT went wrong and a ton of headaches so we didn't get a lot from this one. This stuff happens and you need to get used to it).
https://www.zillow.com/homedetails/11-Devonwood-Dr-Waterbury-CT-06708/58012898_zpid/
Then
Immediately after that one was done we started this one:
This one gave us $66,000.-
https://www.zillow.com/homedetails/96-Stoddard-Ave-Newington-CT-06111/174083155_zpid/?mmlb=g,14
It really is not complicated to make money. The theory is quite simple. You just need to take risks, step up, just do it!
We got multiple offers a few hours after listing it, and all offers were above asking price.
So we just received the money a few days ago.
Now we do several flips at the same time. So imagine, if you do 3 to 4 flips at the same time, your paycheck could easily be $100,000.- to $200,000.- a month.
You just need to do one flip. learn from your mistakes. adapt and define your systems. Do a second flip. Again adjust, and do a third flip.
Now you have plenty of capital to start doing B&H, wholesaling the right way, or continue flipping.
BUT... now things become actually fun. When you are struggling, in the beginning it is a lot of stress, but once money comes in... OMG it is so much fun!!
FINEPRINT:
The way my flips bring me so much money is because I buy them right. You make money when you buy.
We get the best leads because of a #1 ranking website that is fine tuned for conversion. We use our own developed strategies not just to rank #1 but to have people obsessed with choosing us to sell to.
THIS is the ONE and ONLY reason we are crushing it.
I love that! I am looking at flipping properties if a deal comes across, but I haven't networked enough to raise enough private capital. I really need to decide whether I am flipping or wholesaling. Honestly, I don't like the idea of flipping without the correct partners. I would need somebody with more experience that I would be able to bring a deal. I don't have the money to blow or the experience to ask an investor to blow their money. That's the problem I've run into.
- Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes6y
Originally posted by @Timothy Douglas:
Originally posted by @Jerryll Noorden:
Originally posted by @Timothy Douglas:
Originally posted by @Bobby Valcin:
@Patricia Steiner You are correct. Taking action is key.
Let me give some background. I did a BRRRR recently on a property that went over budget a bit so the "Repeat" part of the BRRRR will have to wait a bit. I decided to start looking into wholesaling as a way to build some additional capital and also find my own deals to use to partner with some local investors.
I’m trying to figure out a good starting place, hence my original question. Taking action is not what I’m struggling with at the moment. In the interest of time, I would just prefer not to throw a bunch of stuff against the wall to see what sticks.
Has Thumbtack generates business for you?
I feel that. I want to generate capital for future investments as well. Raising money is hard for me because I haven't found a good deal and have no experience to offer investors. I recently started my LLC and come January I am going to be buying lists of distressed investors, apartment owners, pre-foreclosures etc... I can get a list of 1000 in my area for like $90.00. Then I'll be doing a direct mailing campaign. I think it's a cool way to target your efforts. The best way is to network as much as possible because that will lead to you getting deals from every direction. Also, I always hear about partnering with somebody who can find deals really well, or talking to other investors that will pass on deals they cannot afford.
A way to get capital is how I did it. Not sure if it is the best, but it worked for me.
I started wholesaling because I had no money to buy a house. I hated wholesaling and still do.. But.. I was really good at it, because I took emotion out of it (I barely use emotion for anything), and was very cold strategic robotic, all by the numbers.
I took a JV route. I asked BP if I got a good deal would anyone be interested to partnet with me and they pay everything and we split the profits. I did get someone but that didn't work out for me. I lost a lot of money.
So I do not suggest you do that.
But this is what I did after losing all that money.
I wholesaled 2 more deals, till I had enough capital to go the private money route.
So let me show you how I made $101,000.- in 4.5 months. And anyone can do this immediately right now, as long as you have access to some private money or hard money. (be informed of all the risks though). But there is no reason anyone can't do this now.
Flipped 2 houses.
One house gave us $36,000.- (a LOT went wrong and a ton of headaches so we didn't get a lot from this one. This stuff happens and you need to get used to it).
https://www.zillow.com/homedetails/11-Devonwood-Dr-Waterbury-CT-06708/58012898_zpid/
Then
Immediately after that one was done we started this one:
This one gave us $66,000.-
https://www.zillow.com/homedetails/96-Stoddard-Ave-Newington-CT-06111/174083155_zpid/?mmlb=g,14
It really is not complicated to make money. The theory is quite simple. You just need to take risks, step up, just do it!
We got multiple offers a few hours after listing it, and all offers were above asking price.
So we just received the money a few days ago.
Now we do several flips at the same time. So imagine, if you do 3 to 4 flips at the same time, your paycheck could easily be $100,000.- to $200,000.- a month.
You just need to do one flip. learn from your mistakes. adapt and define your systems. Do a second flip. Again adjust, and do a third flip.
Now you have plenty of capital to start doing B&H, wholesaling the right way, or continue flipping.
BUT... now things become actually fun. When you are struggling, in the beginning it is a lot of stress, but once money comes in... OMG it is so much fun!!
FINEPRINT:
The way my flips bring me so much money is because I buy them right. You make money when you buy.
We get the best leads because of a #1 ranking website that is fine tuned for conversion. We use our own developed strategies not just to rank #1 but to have people obsessed with choosing us to sell to.
THIS is the ONE and ONLY reason we are crushing it.
I love that! I am looking at flipping properties if a deal comes across, but I haven't networked enough to raise enough private capital. I really need to decide whether I am flipping or wholesaling. Honestly, I don't like the idea of flipping without the correct partners. I would need somebody with more experience that I would be able to bring a deal. I don't have the money to blow or the experience to ask an investor to blow their money. That's the problem I've run into.
I can tell you are a smart dude. How about getting involved with an investor that currently is flipping a house. Shadow and learn from him.
You won't get experience if you don't do it, and you are not going to do it until you gain experience.
You're at a stand-still.
Get out there and be aggressive. Don't take no for an answer. Learn how to flip!
- Realtor · Austin, TX · Member since 2018 · 154 posts · 82 votes6y
Originally posted by @Jerryll Noorden:
Originally posted by @Timothy Douglas:
Originally posted by @Jerryll Noorden:
Originally posted by @Timothy Douglas:
Originally posted by @Bobby Valcin:
@Patricia Steiner You are correct. Taking action is key.
Let me give some background. I did a BRRRR recently on a property that went over budget a bit so the "Repeat" part of the BRRRR will have to wait a bit. I decided to start looking into wholesaling as a way to build some additional capital and also find my own deals to use to partner with some local investors.
I’m trying to figure out a good starting place, hence my original question. Taking action is not what I’m struggling with at the moment. In the interest of time, I would just prefer not to throw a bunch of stuff against the wall to see what sticks.
Has Thumbtack generates business for you?
I feel that. I want to generate capital for future investments as well. Raising money is hard for me because I haven't found a good deal and have no experience to offer investors. I recently started my LLC and come January I am going to be buying lists of distressed investors, apartment owners, pre-foreclosures etc... I can get a list of 1000 in my area for like $90.00. Then I'll be doing a direct mailing campaign. I think it's a cool way to target your efforts. The best way is to network as much as possible because that will lead to you getting deals from every direction. Also, I always hear about partnering with somebody who can find deals really well, or talking to other investors that will pass on deals they cannot afford.
A way to get capital is how I did it. Not sure if it is the best, but it worked for me.
I started wholesaling because I had no money to buy a house. I hated wholesaling and still do.. But.. I was really good at it, because I took emotion out of it (I barely use emotion for anything), and was very cold strategic robotic, all by the numbers.
I took a JV route. I asked BP if I got a good deal would anyone be interested to partnet with me and they pay everything and we split the profits. I did get someone but that didn't work out for me. I lost a lot of money.
So I do not suggest you do that.
But this is what I did after losing all that money.
I wholesaled 2 more deals, till I had enough capital to go the private money route.
So let me show you how I made $101,000.- in 4.5 months. And anyone can do this immediately right now, as long as you have access to some private money or hard money. (be informed of all the risks though). But there is no reason anyone can't do this now.
Flipped 2 houses.
One house gave us $36,000.- (a LOT went wrong and a ton of headaches so we didn't get a lot from this one. This stuff happens and you need to get used to it).
https://www.zillow.com/homedetails/11-Devonwood-Dr-Waterbury-CT-06708/58012898_zpid/
Then
Immediately after that one was done we started this one:
This one gave us $66,000.-
https://www.zillow.com/homedetails/96-Stoddard-Ave-Newington-CT-06111/174083155_zpid/?mmlb=g,14
It really is not complicated to make money. The theory is quite simple. You just need to take risks, step up, just do it!
We got multiple offers a few hours after listing it, and all offers were above asking price.
So we just received the money a few days ago.
Now we do several flips at the same time. So imagine, if you do 3 to 4 flips at the same time, your paycheck could easily be $100,000.- to $200,000.- a month.
You just need to do one flip. learn from your mistakes. adapt and define your systems. Do a second flip. Again adjust, and do a third flip.
Now you have plenty of capital to start doing B&H, wholesaling the right way, or continue flipping.
BUT... now things become actually fun. When you are struggling, in the beginning it is a lot of stress, but once money comes in... OMG it is so much fun!!
FINEPRINT:
The way my flips bring me so much money is because I buy them right. You make money when you buy.
We get the best leads because of a #1 ranking website that is fine tuned for conversion. We use our own developed strategies not just to rank #1 but to have people obsessed with choosing us to sell to.
THIS is the ONE and ONLY reason we are crushing it.
I love that! I am looking at flipping properties if a deal comes across, but I haven't networked enough to raise enough private capital. I really need to decide whether I am flipping or wholesaling. Honestly, I don't like the idea of flipping without the correct partners. I would need somebody with more experience that I would be able to bring a deal. I don't have the money to blow or the experience to ask an investor to blow their money. That's the problem I've run into.
I can tell you are a smart dude. How about getting involved with an investor that currently is flipping a house. Shadow and learn from him.
You won't get experience if you don't do it, and you are not going to do it until you gain experience.
You're at a stand-still.
Get out there and be aggressive. Don't take no for an answer. Learn how to flip!
I feel that. Thanks, man!
- Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes6y
This is excellent advice and advice which can be given to any newbie looking at any strategy to get into.
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