Lead generating services?

Question

Hi, new to this. Do lead generating services like lead mining pros etc work? If people have used- any reviews would be appreciated. Thanks

Zeeshan S. · Answer

Hi Drew, great question! Lead generation services can work, but their success often depends on how you follow up with the leads. I've been helping real estate professionals refine their outreach strategies, and I’ve found that tools like SMS marketing can complement these services effectively by reaching prospects quickly and engaging them directly.

If you'd like, I can share some insights or tips on how to maximize the ROI from your lead generation efforts. Let me know!

Cornelius Garland · Answer

Based on the KPIs I'm tracking, yes texting is more effective, and it's not even close. In 2015, I started using direct mail and landed my first several deals this way. Once skip tracing became accessible and reliable, I switched to cold calling primarily as my marketing channel in 2019. Around this time is when I started cold texting. It was effective back then, but it quickly became saturated. During the pandemic, hundreds of new investors were entering the wholesaling business, and it caused immense marketing oversaturation. Some homeowners were getting 50 - 100 texts a week on one house. Consequently, the government introduced legislation in October 2023, which requires every business to register their companies with a federally regulated organization in order to text.

This brings us to today. Now that the laws were introduced, it essentially removed 99% of the investors who were texting. Many investors simply think it's illegal or ineffective. The truth is, the process to get your account 10DLC / A2P verified is not straightforward and the government prefers it like this. If you can overcome the obstacles with getting your account compliant, then it's worth it.

In the last 12 months, the majority of my deals came from cold texting and long term follow up from leads I had in my CRM. Very few came from cold calling and direct mail. I can get 5 - 20 leads per day texting, depending on how many texts I send. Currently, I'm averaging a 1% lead rate - 500 texts sent and 5 leads generated; 1000 texts sent and 10 leads generated, etc.

For cold calling it will take 1 full-time cold caller dialing over a month to get the same amount of leads I can get in a day with texting. It just doesn't make sense to cold call anymore. Until something changes, texting will be my number one marketing channel. I'm glad the regulations were put in place because I can go into any market and dominate it without competition, while keeping my cost per deal low.

Luis Maqueira · Answer

Drew,

Wholesaling is a long road. Over the past 12 months, my team and I completely revamped our systems—jumping between PPC, inbound leads, call center training, acquisitions, and dispositions.

Here’s my input: stick with what you know and what you can control. We’ve done more deals using the same traditional methods than with all the new AI tools, automations, and trending systems out there.

A lot of these so-called experts on YouTube—20-year vets making six figures—somehow still have time to drop videos every day selling you software and lead gen systems with affiliate programs attached. It says a lot.

We’re based in Miami and only work South Florida. If you ever want to chat, I’m around.

Luis Maqueira  MiamiMP

Cornelius Garland · Answer

@Drew Mullin I know the owner, Nick; he's a solid guy. I would say that cold calling, in general, has been in decline over the last year. If you can have him do text blasts for you then I would go that route. You might not get much traction with his cold calling services. His service is for beginners to get you started, so the goal is to use his service to gain momentum and then potentially build out your own cold calling or texting team.

Cornelius Garland · Answer

You're welcome. There are certain words we need to avoid so the carriers won't flag us as spam. My message looks something like this: Hi, I'm interested in acquiring your property at 123 Main St. Are you considering parting ways with it?It's important to avoid these words: sell, cash offer, buy, purchase, interested, etc. Any word that can be considered transactional should be avoided.

10 DLC registration can be a pain, but it's necessary so you can enable the texting feature in any software. I read all the regulations in 2023, and there was an update last month, which required me to update my SOPs. I taught myself how to submit the accounts for approval. It took me several tries the first time, but I've gotten several accounts approved since then. I mainly use REI Reply, and I can send off 5,000 texts per day in each account. I have 10 accounts, and I'm texting major volume daily.  We get 50 - 100 leads per day and these sellers aren't in communication with other investors since they do not pick up for cold calls.

I would suggest using a lead gen service like Lead Mining Pros now to gain momentum. However, I would start working on getting a texting platform 10 DLC approved. The hassle is worth it, and cold texting is a blue ocean right now. There are very few marketing channels where there is literally no competition.

Drew Mullin · Answer

Hey thanks Stephen I appreciate the reply. Going to start today and see how it goes.

Stephen Morales · Answer

@Drew Mullin I don't know anyone personally that has used it, but I am familiar with the owner Nicholas and he seems to have a good hand on his agency. If you have the money it could be worth a shot. If you are unsure, I would maybe schedule a call with them. Some of our users are these exact type of agencies and we provide data for them. Depending on who they get their data from and how good their systems and callers are they most certainly can generate you deals.

Drew Mullin · Answer

@Luis Maqueira are you saying the 20 yr old YouTube vets have too much time bc they killed it .. or they should have less time lol. That's cool tho what part of fl are you in

Lead generating services?

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