Building a proven Wholesale Process

[Account Closed]

Hello BP!

I wanted to reach out and share my current wholesale process I've been building to perhaps help another wholesaler or investor. And if someone can offer advice or tips, that would be great too!

• 1.Getting Leads So I have a couple sources I gather leads from, first from Propelio. I typically get 80-100 leads a day in my market. This is what I will say about Propelio, since it’s expanded, it’s gotten a little more saturated. They key is to actually talk to the seller and build rapport first. I also utilize list source, you can filter your create your own lists. I typically search a certain zip code I am targeting, and filter equity % to 60-71. Driving for dollars is always good.
• 2.Marketing So currently, my system is to Skip trace with TLO to gather phone numbers and emails. IDI skip traces a free 250 if you get approved. Find sources on Upwork or Fiverr who can skip trace as well. Once you have the phone numbers, I have been experimenting with a text campaign via google sms. Download the extension and mass text. I get a couple texts back from this. Then I started cold calling, which will save you money. But I don’t like doing it. Lol
• 3.Follow Up One cool thing about Proelio is it functions as a CRM and a CMA as well, which can't be a little off. My partner is a Realtor so we just run MLS for numbers. Follow up is key in this game. I've followed up more than once and had appts set because I did so.
• 4.Other I see one issues with the fly by night wholesaler who doesn’t account very important things into their deals. Deal needs to make sense to the buyer, so if you have a small spread that won’t cover holding costs and listing agent costs, etc. You will not sell your wholesale deal. I see it all the time, deals that do not make sense from email blast wholesalers. If it’s a deal, it will sell itself. Be the one to build rapport with the seller and you will beat out competition in your market. Options are great, because the last resort may be you can’t get a seller, you have the option to back out. If you run your numbers right, you won’t need to do this though.

• I also do some JV because, I work with a partner that has an in house VA that cold calls. So it's great being able to save $2300 a month just by doing a few JVs. From Wholesale, started getting into creative strategies, such as wholesaling sub-2s, or even buying them to lease option out to get cash now and cash later. Anyways, if anyone wouldn't mind sharing their systems that have been working for them, would be awesome!

[Jay Hinrichs]

Originally posted by @Lydia R.:

@Christian Mercado Honestly because the market is so competitive right now I dont buy lists from list providers. I am creating my own, simply because I find that if its a list I can buy then everyone is buying it and you now have to compete against all those people. But I would suggest you find a niche and work that niche. Ive seen a lot of people going further outside of DFW as well because its less saturated.

Ok you know I am an old dog.. and of course you know I close everything I contract for.. so not going to get into the assignment BS.

but here is what I did in the early 90s when I was in the Timber business.

I created my own data base.. we went into each court house compared Arial photogs to plat maps and created a data base of every owner of 10 acres of more with visible timber. this took almost 2 years to go from the CA OR border to just south of Seattle from the coast range to the cascades probably an area twice as large as Georgia.

at the end of the day we had a very targeted list.. I spent IN those days maybe 50k creating this.. then I had live telemarketers come into my office 3 nights a week and I had a sales manager there to take over the calls in real time if there was any interest.

this led to us becoming the largest company in the space. our competition was still old school marketing . but we only worked about 6 months a year my partner left for Maui and I had a home in the Napa valley.

also our deals were not as frequent we did in a good year only 60 to 80 deals. but our average income was right at 50k a deal. MINUS costs of course. 

with the yellow letter services out there .. you need to rise above in my mind..  now a days I fund folks in 20 states .  IE fix and flippers and turn key operators I get no less than 5 to 10 yellow letters virtually a day.  So when we did our data base we had next to zero competition and we never sent letters we only used the phone and only live calls. Robo calls or Vm calls are funky I get a bunch of those these days and they are horrible.