All Forum Posts by: Account Closed

Ohgg driving for dollars.... no no no that is blasphemy to my ears!

You are telling the wrong person. I am viciously against those strategies. Keep in mind  the majority of investors fail. The majority of investors use strategies like cold calling, DMM, and door knocking... driving for dollars. See a pattern emerge?

This is me:

We certainly do not do those strategies.

All these leads are highly motivated seller leads. And they are free! I have no time to wing it. If I do effort, I better see results. I don't gamble.

I get you are just starting, but so did I. I also had no money. So I do feel your pain, fears and worries. But see that IS the reason why I didn't do these methods. I needed something I knew would work.

So I did it the SEO way. And obviously.. it works.

I thus invite you to break free from all the advice people that are (also) not successful either with their lead generation methods, and not follow the masses, especially when they are not successful, whey they themselves do not wholesale (successfully) and collect data analyse said data and draw your own conclusions.

That I think is the best way to approach this.

So if I were you, I would step back. Forget all you have seen, and unload all the stress and clear your mind.

Now, ask yourself, what the best lead generation is for you. The answer is NOT  "what other people do too". 

For me it was SEO, because that depended on my intelligence, on my skills. I have full control over whether I succeeded or not.

DMM is based on luck! You can be an amazing person, brilliant and smart. Yet you can only do so much . You don't have any control over your lead generation. You may think you do, but you don't!

(Otherwise the success rate wouldn't be so bad.. right?)

OK honestly, I have no idea whether anyone that says that 200 is a good list has EVER wholesaled before.

Minimum mailers sent is 3000. A good number is 5000. As an investor you need to have 2 things in place.

A system that targets motivated sellers, and a system that converts motivated sellers into leads.

Without any of these in place you are winging.

Keep in mind the average numbers for DMM is 0.5% to 5% open rate. This is OPEN RATE, this includes people that yell at you. I get it depends on the list. but .. not that much.

For 200 mailers, you will get about 20 mailers returned, and lets take 5% open rate, that is 9 people will respond.  Of the 9 people probably all 9 will yell at you most likely.

I really don't mean to be mean. Just realistic.

You really need a lot more than 200 mailers to up your chances for a solid lead.

@Account Closedat least you know you want a deal! What are you hoping for returns wise? How much cash would you have to make for it to be worth it? 

Your post doesnt mention exactly what strategy you are trying to pursue. People getting into real estate often have a preconceived notion of RE based on something they heard, saw, read etc. Everybody has a friend who made a "BIG" profit on a deal and it sounds so easy, you figure why not me to. Depending on your preference of strategy to initially pursue, why not begin to familiarize yourself with the free search methods. Set up some Craigslist alerts, check out FB Marketplace. Join a REIA, pic a farm area and become an expert on values in that are so you can spot an great deal when it pops up. Set some alerts of Redfin or some other Free RE portal to send you listings of new, sold , under contract so you start to know your area as good as the realtors serving it. Call all the realtors and introduce yourself and tell them your plans and ask them to send you listings and junky stuff they might not want to list due to poor condition. Sign up for a Carrot website, not free but cheap and populate it with some articles and creative info to generate activity. If you really want to generate leads, the funnel needs tpo be real big at the top. Daily activity it takes time to gain momentum and your persistence level will dictate the results you will get. Keep at it

Thank you so much for your reply, Bob! There are a lot of great ideas there. I never thought about going to FB Marketplace! And I didnt know about Craigslist alerts either. 

I'm planning on doing some wholesale deals just to get the ball rolling and gain some capital but I would like to get into BRRRR-ing some properties soon.

It's definitely hard to keep momentum up when nothing is happening yet, but I keep reminding myself that I'm playing the long game! Thanks again!

@Account Closed  There are automated mailer services that cost as low as .05c - I always try to think about these things as the value of my time being used on highest / best use.   Also, don't forget you can get some incredibly targeted lists from certain freelancers who only work with realtors and real estate investors on Fiverr, UpWork, etc.   Anything you are thinking of doing manually, there is usually a service for that that will free up your time on more personalized introductions and conversations.  You want to use the education you've obtained and throw up enough stuff against the wall to make it stick - it's a bit of both rather than just one or the other.