Getting into Cold Calling for my first deal

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Getting into Cold Calling for my first deal

Rafael Perez
New to Real Estate · Omaha, NE · Member since 2020 · 45 posts · 21 votes

What's up BiggerPockets family! I'm in need of knowledge from experienced cold callers! I have a list of thousands of non-owner occupied owners over the age of 50 with at least 50% equity in their house. I plan on hitting this list every week for at least the next 6 months.

I am looking for any advice, tips, and recommendations for what has worked and not worked when getting into cold calling on your own. One thing I want to invest into for sure is a rookie investor friendly CRM. Since I plan on doing this for at least the next 6 months, I want to be as organized as I can so I can keep track of leads, contacts, and data. What are your thoughts on my situation using a CRM and what are some that you can recommend?

I also want to invest into a speed dialer. Since there are thousands of numbers, I want to be as efficient and effective as possible so I can go through many phone calls. What are your thoughts on speed dialers and are there any that you can recommend?

Thanks to all you can help me in any way!

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  • Brenden MitchumBusiness Member
    Rental Property Investor · Atlanta, GA · Member since 2019 · 1k+ posts · 872 votes
    4y

    Hey @Rafael Perez

    My first step would be to dissect what "hitting this list every week" really means. If you have thousands of numbers, what's the plan? Call every single one? That, by itself, might take you 6 months if you don't have a real plan. Do you already have a script? If so, maybe call 100 and dial that script in then bring on a VA or 2 so you all can fly through that list. Then, you can focus your attention on the follow up calls.

    Having a plan is key, sticking to that plan is even more important. This is especially true if you're only giving yourself a 6 month "trial period." Is this enough time to really determine if wholesaling is right for you? Maybe, but you better actually put in some effort. I did the same thing as a real estate agent. At the end of my first calendar year, I had little evidence to support continuing. However, I also realized that I really did not give it much effort. So, instead of giving up, I doubled down and, at the end of my second calendar year, have no plans of slowing down anytime soon. Sure am glad I didn't give up after that first trial period I set for myself. 

    A CRM is definitely a must but you don't need anything fancy to start out. Podio is free and should be suitable for your needs. It's highly customizable but will take some time to learn how to use it most effectively. 

    I do not have any experience with a speed dialer so cannot help you there:/

    Hope this helps a bit! Please, feel free to reach out anytime if you have other questions or just want to chat!

    [email protected]404-737-0018
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  • Rafael Perez
    OP
    New to Real Estate · Omaha, NE · Member since 2020 · 45 posts · 21 votes
    4y

    @Brenden Mitchum Awesome words of advice especially coming from a real estate agent like yourself! I really like the idea of testing scripts then outsourcing it so I can focus on the more important tasks. I'm going to reach out to you through DM to explain my situation a bit better. Thanks!

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