wholesaling texting (cold texting)

20 Replies

What exactly does your text say? Perhaps the wording isn't optimized. 

Also, where did you get your data from and can you determine if the text was delivered? The issue could be that some of your phone number data is bad and isn't being delivered. 


You sent 4,000 random texts to strangers who may or may not be looking to sell and are dumbfounded that you haven't closed a deal yet after 4 days? Name one person on Earth who likes receiving unsolicited texts.

"I’ve sent nearly 4,000 messages in the past 4 days and no deals at all a handful of owners messaging back but no close deals or calls what do you suggest ?"

Try 400,000 a day.  I just love getting those texts!!!!

Almost as much as I like those letters in handscrawl font telling how honest you are and how much you want to help me out.

@Steve Morris I see you consistently knocking the typical methods of wholesalers, which I can understand because no one wants unsolicited junk mail, texts or calls. 
With that being said, what is your ideal method of marketing to leads?

Originally posted by @Jonathan Greene :

You sent 4,000 random texts to strangers who may or may not be looking to sell and are dumbfounded that you haven't closed a deal yet after 4 days? Name one person on Earth who likes receiving unsolicited texts.

My favorite are random sales texts with no punctuation.  Just run on sentences with a question thrown in. I think. LOL

 

"With that being said, what is your ideal method of marketing to leads?"

I dunno, how getting a RE license since you expect a fee for arranging the sale of real estate. Then getting a listing at FMV with a commission that goes up with the sales price and going thru legitimate mass marketing platforms or calling potential buyers.

Somehow, tying up a property at 60% of FMV, walking it around to someone the seller doesn't know and then skimming a 30% profit doesn't sound as good to the seller.

This type of strategy is like sending the same message to 4,000 potential dates on Tinder and then wondering why they don't feel special and why you haven't closed the deal after 4 days of trying.

@Steve Morris I see where you’re coming from, I always thought it was a shady deal too, until I started meeting sellers who had home that were disasters and wanted nothing to do with listing and having them shown. 
I should have been more detailed when I asked the question the first time. How do you believe flippers should be getting properties? Or do you think that business shouldn’t exist either? 

"How do you believe flippers should be getting properties? Or do you think that business shouldn’t exist either? "

I think flippers should be investors - That means taking title.

Low-balling some old guy and then hiding who the true buyer is or what they are actually paying is not legal here in OR.

@Steve Morris Ok, I get that but that was not my initial question to you. 
You said you don’t like the texting or hand scrawl letters. What methods do you find professional and effective in marketing for properties, if the person was an investor who was taking title?

Calling? Letters that are not in hand scrawl? Postcards?

What methods do you find professional and effective in marketing for properties, if the person was an investor who was taking title?

1) Groomed phone list and calls

2) Posting on sites like teh RMLS, LOopNet and CrexI

3) Mass eMails with details on the property like address and pricing

You can't tell me you think dayglo signs on the right-of-way and letters protesting someone's good-heartedness are a very professional approach.

LOL Steve Morris just hates wholesalers apparently. 

Text blasting is tough. I have found the best way to get responses is to keep it simple such as "Hey, is this (insert name)?" to start the conversation. 

@Jonathan Greene would you mind responding to @John Mucilli question? I'd be curious to see your response. I have found outbound marketing methods such as texting and cold calling to be a great way to get deals. If you are against these, what do you recommend doing in order to acquire off market deals?

@Alan DeWitt I prefer to spend more time vetting my lists and then segmenting different letters for different groups of sellers. Cold texting and postcard mailing the same I want to buy your house for cash message fails to take into account that sellers fall into several different categories and only a very small percentage are intrigued by selling out for cash at a steep discount. I have eight or so different letters depending on the seller type and they all get customized.

@Jordan Goulet your result will depend on the following (ranked top to bottom) and pay close attention to @Jonathan Greene 's feedback 

1. You Market ( more the competition , more the volume needed) 

2. Your list ( this is a deal maker,  you cant win by thinking the same and doing the same as tons of others are doing)  

3. You overall marketing strategy (style/frequency/online/offline) 

4. A little of luck (but marketing budget may run out faster vs getting lucky ) 

Keep us posted and best wishes