ARE THESE LEADS THAT I PURCHASED A RIPOFF ?!?!

Wholesaling
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ARE THESE LEADS THAT I PURCHASED A RIPOFF ?!?!

Alexia N.
Developer · . · Member since 2019 · 41 posts · 17 votes

Hello! I'm a NEWBIE to wholesaling so please don't judge. I'm trying it out for the first time. I just bought 109 absentee owner leads for $50 on Melissadata.com/direct (January 1, 2020). & I'm using a website called Podio.com to keep track of all of my leads. As of now, I'm googling the lead's home addresses so I can see what the homes looks like, bedrooms, baths, sqft, etc. So I just click on the top 2 websites on google which is normally HAR.com & Zillow.com ... And every time I click on these 2 websites with my lead's homes on it, it literally says "Currently Not For Sale" & "Off Market". So far every home that i've googled on my lead list says that. 

So my question is:

If I google the homes of all 109 absentee owner leads that I have, if it turns out that they all say "Currently Not For Sale" & "Off Market" ... Does that mean that I basically wasted my money on these leads & that they are no good?

(I'M JUST WONDERING BECAUSE I WOULD'NT WANT TO WASTE MY TIME ON LEADS LIKE THIS IF ITS GOING TO BE COMPLETELY POINTLESS)

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Lydia R.
Investor · Austin TX · Member since 2016 · 1k+ posts · 2k+ votes
6y

@Alexia Ned-Sowell I would suggest you spend a little more time actually researching what you are doing before you start doing it. You definitely shouldnt be buying leads if you dont even know that you want properties that arent for sale. I have seen so many new wholesalers fail because they dont really know what they are doing. Take the time and understand what wholesaling actually is. Learn how to run comps (MLS not Zillow), find some good contractors, build a buyers list etc. you are putting the cart way before the horse. Take the time to learn and understand what you are doing. Ive been wholesaling full time for 6 years, thats the best advice I can give you.

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  • Harry H copeland
    Investor · Member since 2019 · 11 posts · 2 votes
    6y

    @Kyle J.good answer

    0Reply
  • Alexia N.
    OP
    Developer · . · Member since 2019 · 41 posts · 17 votes
    6y

    @Darius Ogloza ... Thank you so much !!! 😊

    0Reply
  • Pratik P.
    Flipper/Rehabber · Sacramento, CA · Member since 2016 · 807 posts · 815 votes
    6y
    Originally posted by @Lydia R.:

    @Alexia Ned-Sowell I would suggest you spend a little more time actually researching what you are doing before you start doing it. You definitely shouldnt be buying leads if you dont even know that you want properties that arent for sale. I have seen so many new wholesalers fail because they dont really know what they are doing. Take the time and understand what wholesaling actually is. Learn how to run comps (MLS not Zillow), find some good contractors, build a buyers list etc. you are putting the cart way before the horse. Take the time to learn and understand what you are doing. Ive been wholesaling full time for 6 years, thats the best advice I can give you.

    As @Will Barnard said, this was the best advice you received in this thread. I know negative criticism doesn't feel good but sometimes it can be really valuable. 

    She may have "assumed" that you didn't know how to run comps, build a buyers list, etc but seeing how you didn't know that a lead list would include off-market properties, it's safe to assume you have some larger holes in your knowledge base that you should address before spending money on marketing efforts...

    Youtubers like Max Maxwell, Brent Daniels, Sean Terry ALL provide good information but also can't explain the important details of wholesaling in a quick video. That's why they are pitching a course or seminar for you to buy. Just keep that in mind. 

    11Reply
  • Lutcien Sebert
    Flipper/Rehabber · Sioux Falls, SD · Member since 2019 · 11 posts · 2 votes
    6y

    @Alexia Ned-Sowell

    Absentee owner lists are more than just vacant houses. The absentee owner is where the tax payment is billed to. These leads you have are a good start because these houses do have a unique situation which is always attractive to wholesalers. Motivated sellers often will not have their house listed for annoy different various reasons. It’s up to you to find and guide them in how to handle their situation.

    1Reply
  • Alexia N.
    OP
    Developer · . · Member since 2019 · 41 posts · 17 votes
    6y

    @Pratik P. & Like I told him as well, that was NOT the best advice in the thread in my opinion. All of the people telling me that off market is what I should be looking for is VALUABLE to me. (I just want positive answers & real knowledge only. I came on here to network with more experienced people. Anyone who is more experienced who is judging, criticizing, & assuming that I know anything about wholesaling just because I'm a newbie with questions, I will call it out because I don't want to network with people like that. I think that's fair to say.)

    I was following a YouTube video that was doing wholesaling step by step. & Just for the sake of the thread, I went back to this YouTube video & watched it again. On the video, they described the difference types of list (absentee owner list, free & clear, probate, fire damage, pre-foreclosure, tax delinquent) & then they just said to “purchase a list of properties” ... They did NOT say “purchase a list of off market properties.” Well, now we know why I didn’t know because it wasn’t said on the video. It probably wasn’t mentioned because it’s really not a big deal. I didn’t know before, but I know now. VERY SIMPLE!

    But thanks for your comment!!! I’ll make sure to check out those YouTubers.

    0Reply
  • Alexia N.
    OP
    Developer · . · Member since 2019 · 41 posts · 17 votes
    6y

    @Lutcien Sebert ... Thank you very much!!!

    0Reply
  • Aisha Duff
    Savannah, GA · Member since 2019 · 53 posts · 22 votes
    6y

    @Alexia Ned-Sowell

    Just letting you know that you are awesome! Continue to ask your questions and build your knowledge/experience in the best way that works for you.

    0Reply
  • Kenneth McKnight
    Member since 2019 · 7 posts · 3 votes
    6y

    @Alexia N. You're definitely on the right path - keep at it!

    There's a couple of events coming up in the city this week, so definitely check them both out if you can.  

    0Reply
  • Mitch Harold
    Member since 2019 · 35 posts · 87 votes
    6y

    The experienced posters on this thread arent assuming you are you are ignorant to the wholesaling process, they know you are.  Yet you have chosen to respond with how much you know.  On the other handa whole lot of other people have encouraged you without giving you any real advice, and you choose to thank them for their praise. At this point, anyone with knowledge and experience who might have helped you, has read this thread and laugh to themselves at your complete ignorance of what you're doing. So enjoy your experience here.

    16Reply
  • Alexia N.
    OP
    Developer · . · Member since 2019 · 41 posts · 17 votes
    6y

    @Aisha Duff Thanks!!!

    0Reply
  • Alexia N.
    OP
    Developer · . · Member since 2019 · 41 posts · 17 votes
    6y

    @Kenneth McKnight Thanks!!!

    0Reply
  • Alexia N.
    OP
    Developer · . · Member since 2019 · 41 posts · 17 votes
    6y

    @Mitch Harold ... Ignorant to the wholesaling process? It’s a LONG process with a lot of steps so be more specific. The only thing that I may have been ignorant to is the off market thing with the absentee owner list, that doesn’t mean that I’m ignorant to the other things when it comes to wholesaling. You & others that are assuming that just because I didn’t know ONE piece of information, that I don't know the WHOLE ENTIRE wholesaling process are the ignorant 1’s. Me not knowing 1 thing doesn’t cancel out all of the other knowledge that I already have.

    Also, there are literally comments of people telling me that off market is what I need to be looking for, which really helped my question. If you think that’s “encouragement”, you’re clearly ignorant & don’t know the difference between encouragement & actual knowledge. In the comments, I received REAL answers, encouragement, & on the other hand I also criticism/judgment/assumptions from people who are really just unhappy with their own lives & real estate career. Anyone who “laughed” at me for not knowing something with me being a newbie is just pathetic & miserable with their life so I don’t really care.

    I'm a newbie NOT a jellyfish. I have a backbone. I already have leads, cash buyer list, contractors, script/questions for motivated sellers, I know how to run comps, I know how to estimate repairs, I know how to get the MAO, I know how to get with the title companies, I already have my contracts. I REFUSE TO LET A STRANGER ON THE INTERNET TELL ME THAT I DON'T KNOW ANYTHING ABOUT WHOLESALING WHEN I HAVE ALREADY CAME THIS FAR JUST BECAUSE I DIDN'T KNOW 1 THING. THANK YOU!!! Bye.

    0Reply
  • Terrell Garren
    Rental Property Investor · Concord, NC · Member since 2016 · 1k+ posts · 3k+ votes
    6y
    Originally posted by @Mitch Harold:

    The experienced posters on this thread arent assuming you are you are ignorant to the wholesaling process, they know you are.  Yet you have chosen to respond with how much you know.  On the other handa whole lot of other people have encouraged you without giving you any real advice, and you choose to thank them for their praise. At this point, anyone with knowledge and experience who might have helped you, has read this thread and laugh to themselves at your complete ignorance of what you're doing. So enjoy your experience here.

    Someone telling you what you need to hear vs what you want to hear is mentoring 101. Nice job Mitch.  

    12Reply
  • Jeff Montanya
    Forney, TX · Member since 2017 · 23 posts · 13 votes
    6y

    @Alexia Ned-Sowell

    Absentee owners just means the owner doesn’t occupy the house. Wholesalers don’t sell listed property typically. A wholesaler looks for potentially motivated seller.

    0Reply
  • Alexia N.
    OP
    Developer · . · Member since 2019 · 41 posts · 17 votes
    6y

    @Jeff Montanya ... Yes, I already knew that absentee owner means that the owner doesn’t occupy the property.

    I just didn’t know that the homes on the list were considered “off market”. I don’t know WHY everyone is making a huge deal about that.

    Even if I didn’t know that the homes on my absentee owner list are considered “off market”... that still wasn’t going to actually stop me from making calls to see if they were interested in selling their property. If 1 person on my list tells me that they want to sell their property, I’ll continue going through with the process, put the house under contract, & sell my contract to a cash buyer for my assignment fee. I WAS GOING TO DO THAT REGARDLESS WHETHER I KNEW THE “off market” PART OR NOT & I STILL AM. Lol. It didn’t really make much of a difference. It’s good for me to know, but it wasn’t that crucial to stop me from wholesaling.

    0Reply
  • Chase Vance
    Investor · Columbus, OH · Member since 2018 · 54 posts · 47 votes
    6y

    @Alexia Ned-Sowell

    Don't worry, you took action on good data from a credible website, one of the few. Now tackle that data. Meaning call first, then text, leave live voicemails if no answer to all of those since there are not many. Exhaust that list.

    For quick and free skiptracing to find owners number, try truepeoplesearch and simple google search their name and property address. Search Facebook too.

    Sites to get solid data from:

    Listsource / Propstream / MotivatedSellerLeads / REWW / Attomdata (for inheritance) / Your County Auditor's Website (for Tax Delinquents, Vacant houses and Vacant Land/Lots) / VacantHouseDataFeed / ReboGateway (Tax Delinquents) & many more I cannot think of (just google it)

    Podio is the best CRM for simplicity, tracking leads and follow up, especially for a Newbie just learning. Just input your leads in there, only leads, not prospects.

    Do not go after Absentee/Tired Landlords though anymore. They are not motivated sellers.

    Try to get and find these lists for your county(but only focus on 1 or 2 for now): Vacant, Tax Delinquents, Code Violations, Water & Electric Shut Off (utility department), Vacant Land near downtown. Your driving for dollars list is the best list though.

    2Reply
  • Jeff Montanya
    Forney, TX · Member since 2017 · 23 posts · 13 votes
    6y

    @Alexia Ned-Sowell

    You’re headed in the right direction. Hit me up if you ever need comps in the HOUSTON area.

    Good luck!

    1Reply
  • Alexia N.
    OP
    Developer · . · Member since 2019 · 41 posts · 17 votes
    6y

    @Jeff Montanya ... Ok I just might do that! Thanks!!!

    0Reply
  • Alexia N.
    OP
    Developer · . · Member since 2019 · 41 posts · 17 votes
    6y

    @Chase Vance ... Thank you so much for all of that information!

    1Reply
  • Amanda Sokol
    Rental Property Investor · Haddonfield nj · Member since 2016 · 46 posts · 24 votes
    6y

    I see you got the answer about the list, but I just wanted to comment good for you for putting yourself out there! Don’t give up and keep at it. I have failed I don’t know how many times ( a lot) but it just makes the successes that much better. I am by no means a pro. I learn new things all the time and have a million questions. Good luck and feel free to reach out to me if you ever need anything 🙂

    1Reply
  • Alexia N.
    OP
    Developer · . · Member since 2019 · 41 posts · 17 votes
    6y

    @Amanda Sokol

    Thank you! <3

    0Reply
  • Alexia N.
    OP
    Developer · . · Member since 2019 · 41 posts · 17 votes
    6y

    @Greta Grakowski ... I was wondering the same thing! That’s actually half of the reason why I decided to ask my question. I was wondering if some lead lists are actually ripoffs because I see a lot other wholesalers that sell their own lists that they’ve made. We all know about scams. It just seems like MAYBE some people would sell no good leads just for the money to rip people off. I just wasn’t for sure though.

    0Reply
  • Eric Caire
    Investor · Prairieville, LA · Member since 2016 · 2 posts · 1 vote
    6y

    @Alexia Ned-Sowell the leads are fine. Absentee owners are a lot of times landlords hopefully in another state and are concerned about their property. They have had a few bad property managers and are tired of being taken advantage of and are looking to sell and just don't want the hassle of listing it and possibly having tenant move out because they find out it is being sold. We are their help in reliving that burden. I used listability and bought 1200 for I think $175 and even on my lack of followup I still got 1 deal done and made money. I paid a company $1 per address to hand address stamp and print my letter and mail off 50 of them each week. Well worth the money if you don't have the discipline lol

    1Reply
  • Alexia N.
    OP
    Developer · . · Member since 2019 · 41 posts · 17 votes
    6y

    @Eric Caire ... Thanks & thanks for telling me about Listability! I’m definitely going to check them out.

    0Reply
  • Pratik P.
    Flipper/Rehabber · Sacramento, CA · Member since 2016 · 807 posts · 815 votes
    6y
    Originally posted by @Alexia N.:

    @Jeff Montanya ... Yes, I already knew that absentee owner means that the owner doesn’t occupy the property.

    I just didn’t know that the homes on the list were considered “off market”. I don’t know WHY everyone is making a huge deal about that.

    Even if I didn’t know that the homes on my absentee owner list are considered “off market”... that still wasn’t going to actually stop me from making calls to see if they were interested in selling their property. If 1 person on my list tells me that they want to sell their property, I’ll continue going through with the process, put the house under contract, & sell my contract to a cash buyer for my assignment fee. I WAS GOING TO DO THAT REGARDLESS WHETHER I KNEW THE “off market” PART OR NOT & I STILL AM. Lol. It didn’t really make much of a difference. It’s good for me to know, but it wasn’t that crucial to stop me from wholesaling.

    You said "I WAS GOING TO DO THAT REGARDLESS WHETHER I KNEW THE “off market” PART OR NOT & I STILL AM. Lol. It didn’t really make much of a difference. It’s good for me to know, but it wasn’t that crucial to stop me from wholesaling."

    It's absolutely crucial for you to know the difference between on-market (MLS listed) and off-market properties. Listed properties involve a licensed agent who has a listing agreement with the property owner. You will need to deal with the agent and submit your offer to them, not the property owner.

    You can call me a hater or whatever you want but you're trying to drive a car without know what wheels are.

    7Reply
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