How often to get new lists?

Question

Hello everyone!

I was hoping someone could point me in the right direction. I pulled a tired landlord list of about 500 contacts, I'm wondering how many times you attempt to call them before you get a new list? Also how often should you call the same list? Once a day? Once a week? I'm not really sure at what point you stop and move on to another list. Any help would be appreciated!

Jerryll Noorden · Answer

Wait a sec.

How do you pull a "tired" landlord list?

Let me try to show you something if you don't,mind.

I am a landlord, right? I own several properties.

I think .. that 60% of bigger pockets here are also land lords? Ask them if they want to sell their house below market value. I am willing to bet most landlords are landlords for a reason. PASSIVE INCOME! So right off the bat, it is a REALLY bad list. You are targeting people that per DEFINITION do not want to sell, they WANT to own. So you are literally targeting the exceptions, the minority.

Makes no sense right?

Now let's dig deeper.

So you can not get a list of "tired" landlords. That is not possible. .. but for argument's sake let's pretend you somehow did get one.

Because they no longer want to be landlords you assume they are OK with selling below market value?

From the entire list of landlords, only a minuscule fraction would want to sell... and from THAT minuscule fraction, an ever SMALLER fraction would be willing to sell at a discount.

Think about it, my dude. What seasoned (regardless if they are tired or not) would GIVE AWAY all that well-earned equity TO YOU, just like that!! Wouldn't you think that if they no longer want to be a landlord they would sell it for as much as they can? I mean they are investors, and savvy in this space right?

Are there those that are SOOOO desperate that they would sell at a discount? Sure? Maybe? who cares!!

That you are spending time money and effort to GO FOR that list seems absolutely crazy to me. It is like people are trying to go out of their WAY to make this hard for themselves. It is like people get off on failure.

Why on EARTH would you go for that lsit? Let me guess. Your favorite Guru told you this right? Or that is what every person here on BP says right? Dude, there are more dumb and stupid people walking on this planet than there are smart ones. I would NOT follow the masses. Follow that one guy that has almost no followers that speaks common sense and logic,  that speaks DATA. That kind of people won't have followers! they have success!

Mind you..

In the beginning, I said... you CAN NOT target "tired" landlords.

Can't! Impossible. Who knows other than the landlord themselves they are tired?

ONLY they know.

Nothing else and no one else can possibly know they are "tired". So, there doesn't exist a way, system, gadget, or software that can get you a list of "tired" landlords. How would they determine they are "tired"? How can anyone possibly determine some random stranger is tired of owning property?

Now there will be plenty of people that will say "ohh don't mind him, I got plenty of deals with this list". Absolutely.

But what you will NEVER hear about is that for every one person that brags about their luck finding a deal this way, there are thousands of others that tried the same thing with ZERO luck! But you will NEVER hear from those people. You only hear about the ones who had success.

Be careful.

Take this however you want to. I am just trying to help you .. and whoever read this

Lydia R. · Answer

Hi Tyler! Personally I hate the 'tired landlord' category because it's subjective. There is no universal criteria for a tired landlord. Compared to more definitive lead categories like probate,divorce, bankruptcy etc. However, let't not get distracted by semantics. To answer your question, you should be pulling new lists every month, especially if they are as small as 500 leads. Dallas is a very investor heavy market, so you'll need to talk to a lot of sellers to find one who is motivated. And to answer the question you didnt ask, consider a more niche criteria. For example, I run a campaign for empty nesters with older built homes that have stairs. Two story homes built prior to the early 2000s almost always have the bedrooms upstairs. As a homeowner gets older, going up and down a flight of stairs not only becomes a burden, it also becomes a safety issue--falls and broken bones are bad for anyone but worse for someone elderly. I went on an appointment once where the seller had moved into the dining room and was using that as a make shift bedroom after a hip replacement made it next to impossible for him to go up and down the stairs. That is an exceptionally niche list. With a relatively high probability of reaching some owners who are ready to downsize and move into a more manageable home that better suits their needs. Everyone markets to absentee owners. The people you are calling have probably been called dozens of times. Consider pulling a more custom and unique list to maximize the chances that you will connect with a seller who wants to sell and isn't on the radar of the other 3,000 investors in your area. Just some food for thought from someone who has lived in Dallas, done wholesale deals there and knows how brutal the competition can be.

David Ramirez · Answer

Hey @Jerryll Noorden,

That's actually a good list for motivated sellers. A "tired landlord" means that they have gone through evictions or through several tenants in a short period of time.

Eliott Elias · Answer

They should be in your conveyor belt of follow ups and never drop off. Bring on as much as you can handle, if you are not converting the leads you have in place don't get more.

David Ramirez · Answer

Hey @Tyler Lay

I would recommend pulling new lists every month. I would not waste time calling manually, get a dialer and buy at least 10 numbers that way you can have it dial 3 contacts at a time and you get in line with the first one who picks up.

HMU for further explanation,

Best of luck

David

Jerryll Noorden · Answer

You kind man you!

Pablo Avila · Answer

Depends on what you mean by "tired landlord", if you're pulling the same lists as hundreds/thousands of people based on a youtube video which guides you on doing this via Propstream or similarly then you'll end up with an upset homeowner. If you're trying to do mass scale, you can pull up larger amounts of lists, and even re-target those same lists again. We used to call lists that we had pulled 3 months ago and would get a % of people ready to sell by that time. Let me know if you need any help with future lead lists!

Wale Lawal · Answer

@Tyler Lay

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All the best!

Tyler Lay · Answer

Thank you! I appreciate all the advice. Definitely answered questions I had, and how to improve!

How often to get new lists?

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