All Forum Posts by: Lucas Machado

Welcome @Mark LeCounte! 

I must second the thoughts of @David Dachtera.  I recently read this in How to Win Friends and Influence People, and it re-emphasized to me the incredible importance of the dialogue with our potential clients: "Thousands of salespeople are pounding the pavements today, tired, discouraged and underpaid. Why? Because they are always thinking only of what they want. They don’t realise that neither you nor I want to buy anything. If we did, we would go out and buy it. But both of us are eternally interested in solving our problems. And if salespeople can show us how their services or merchandise will help us solve our problems, they won’t need to sell us. We’ll buy. And customers like to feel that they are buying –not being sold."

You need to generate leads, you need to spend money to generate leads, but boiling it down to "how many letters do you need to get a deal" I'm not sure is making sense.  I can tell you, we generate a probate deal for every 3,000 ($2,400) letters.  We generate a out-of-state absentee deal about 12,000 postcards ($6,000).  I have some other smaller campaigns that have never generated a deal to date.  Our last 4 deals netted $15,000-60,000.

In April-March 2016, we had the sense we needed more volume.  That was true.  I think though our knee-jerk reaction was along your thought process: "how many letters do I need to send to generate XYZ amount of leads." In reality, we mailed harder but not smarter.

There is an excellent podcast, I believe BP Podcast 176 with Tom Krol , where he discusses these topics in detail.  After listening to that podcast, I made major changes to my direct mail postcard campaign that are going into effect with August 1st mailing (fingers crossed!).  Re-focusing half of my campaign on high equity in-state owners to avoid competition, and beginning a tax delinquent test.  This also allowed me to get more strict on my out-of-state list.  I also made other changes based on feedback received on these forums.

It's a very difficult question to answer because deals come months if not years after calls.  Not only that, some investors have different margin objectives.  You can churn out 30 deals for $5,000 each, or 10 deals for $15,000 and net the same amount.  We often ask the question: is it worth it to get involved in this deal for $5,000-$10,000?  Sometimes, yes, sometimes, no.

To answer the question directly, I average a closed deal approximately every 50 leads.  Working on some new business ideas at the moment to convert more leads, as I'm not satisfied with the 50 lead number.

Welcome @Account Closed!

@Account Closed - If you are merely wholesaling the property to another investor, what's wrong with the deals in rougher parts of town? Further, if you're up in Rhode Island, you presumably won't even have to go into the rough area yourself, so what's the concern? There's buyers out there for everything, and deals at that price point are flying off the shelves right now.

Welcome @Darwin Lopez!

Nice job @Jenny Duclair! Congrats! On to the next one!

Welcome @Walter Diaz!

Welcome @Torre Hoye! Good luck in your journey! 

Welcome @Vanessa Williams! Good luck in your journey, and let us know how we can help!