All Forum Posts by: Mark Weins

@Chris Seveney

I know 20 hours is not much, but I am using the 5000 dials as baseline data and I feel like it's enough calls to know if I am doing something wrong which seems to be the current issue with contacts.

I don't mind if it takes me 3 months or 200+ hours to get my first deal. All that matters to me is that I get it no matter how long it takes and that I am doing things properly. I also agree with you that the list I use seems to have been called multiple times by big players but i'm not sure if that's something I can change as I can only do virtual wholesaling in the US.

I guess my expectation is to have similar kpi's that I have researched online for cold calling but I just don't know why my contact rate specifically is so low, I am not connecting with the owner of the property when I am cold calling at the moment and it is killing my ability to generate leads if I cannot talk to the owners at all. The KPI for connects should be 7-10% for me it's 1% currently. My other expectation is to just have an idea of how much I need to spend on a list and what size it should be to get my first deal, I don't mind putting in 200+ hours but for me skiptracing is the most expensive part of the business and I am aiming to get my first deal in 3 months by using a list of 6000 foreclosures. This is my current budget and I want to know if a list of 6000 foreclosures would be enough to get me my first deal

Hi, I am regularly cold calling to get a wholesale deal but I am experiencing extremely low conversion rates and I do not know where I am going wrong at for this to be happening right now. For this month I have worked with a list of 1,000 people, dialed 5000 numbers, and cold called for 20 hours in total and have only gotten 1 lead out of this. The list I used was 600 high equity/vacant's and 400 divorcee's from propstream. 

I think the biggest issue is that I am getting so few contacts with the correct property owner that after cold calling for 20 hours and 5000 calls the correct person only picks up 1% of the time. 90% of calls picked up go straight to automated voicemail and even when I connect with the right number, it goes to the owner's voicemail 80% of the time. For my data I use propstream for my lists and early on I also used propstream for my skiptracing for the first 600 people on my list, since then I have used batch skip tracing and i've been getting more contact but the numbers are still low. I call out of state with a Florida number, and call between 9-6pm EST.

The second issue is that for the owners that do pickup very few of them are even willing to sell their house and even hear a cash offer. Only 3 people in 5000 dials were even willing to hear a cash offer and 2 of them just hung up on me and said they weren't interested when I did not give them an offer on the spot.

Can somebody give me some advice on what I should do?

July 1-21 KPI's with MojoDialer

Comparison KPI

Hello, for our current wholesale operation we are just starting out and can do 25k cold calls a month currently using a triple line dialer. We need to call 4 numbers on avg per prospects on our list and we are currently planning to do a list of 3000 pre-foreclosures per month and to call the list twice. I feel this is inefficient as a list of 3000 is not big enough to secure a contract a month even if pre-foreclosures are more motivated since cold calling is a numbers game.

I'm thinking of switching to a 5 line dialer so we can place 40k calls instead of 25k however I want to know which of these two methods would be more effective in this situation:

A. Call a bigger list of 5k prospects per month, call the list twice.

B. Call 3k prospects, call the list 4x

VA's are not an option for now, based on your own cold calling metrics could I land more deals by focusing on a bigger list or calling a smaller list multiple times?

Which of the two auto-dialers do you recommend? I am currently using Mojo Dialer but want to make the switch to Readymode as it's cheaper however I heard there might be a few issues with using Readymode in the US as it's a Canadian company? Anyone have recommendations for this?

David you are the absolute best, your advice is incredibly valuable. Thank you

What virtual wholesale markets have you been finding success in 2023 where you've sourced multiple deals? Asking for City and county recommendations

I'm using a triple line Mojo Dialer right now and I find that it's not the best for tracking KPI's such as leads, Connects, no answers, etc...

What software do you use to track your KPI's for wholesaling real estate?

Hi,

Does anyone want to share their KPI's for how many leads it takes to land a deal for their wholesaling business? What qualifies a seller as a lead for you, and how many leads do you need on average to secure a deal. Asking for cold calling only. 

Does anyone have any data regarding how many calls it takes to get 1 lead that is interested in selling their property? For one of our lists we Contacted 319 numbers and only had 1 warm lead. What's the typical KPI you expect in your business, I think the list I am using might have some issues as this KPI is so low.

Additionally Does anyone have a kpi of how large a list you need to secure 1 wholesale deal? (3000-10k)

Hi, I am debating wether to focus my marketing onto Detroit at the moment. The ARV in the area is lower around 100k so my concern is that if I get a wholesale deal in Detroit my profit margins will be much lower due to the already low price of housing in this market. I could get at maximum a 10k contract in Detroit but in Georgia I am able to get 20-30k assignment fee's as the average ARV is higher so there is more wiggle room for negotiations.

Wondering if anyone has experienced this and if lower ARV areas = lower assignment fee's per contract