How to qualify leads.

Question

Today I checked my email and received a reply from a ad I posted on backpage. The reply was from a wholesaling company with 5 properties for sell. YES, my first leads!!! Anyways, my question is how do I go about qualifying these leads so that I can determine if they're deals or not. Is there a certain process that I should follow?

Jerry Puckett · Answer

I think what Bill is asking is could you be more specific about your intentions? What are you trying to do? If you're a wholesaler, I would think you would be marketing for your own deals. What you've shown here are properties that another wholesaler has locked up.

Is your intention to buy? Mark up and market to someone else? Whatever you intend to do, you'll have to have your own method and means to check all the numbers to see if these are "deals". You will need to establish your buying criteria, then make sure your "leads" fall within them: "pull comps, run numbers" as Jimmy said.

When you get tired spinning your wheels checking out other wholesalers stuff, where there is never any meat left to begin with, maybe you can go driving for dollars, put up some bandit signs, or do some direct mail marketing to get some leads of your very own to qualify. Keep at it till you find what works....at least you're trying.

James Vermillion · Answer

In that case Quasim McDaniel you should follow the advice Jerry Puckett gave you.  Every additional link in the chain means less money for you, so dealing with other wholesalers is likely not the best bet.  There are hundreds of threads on BP about marketing and quite a few experienced wholesalers who can steer you in the right direction.  There are a ton of options: yellow letters, bandit signs, online ads, etc, you just need to figure out what will work best for your area.

Use the forum search feature to learn more about how to successfuly market as a wholesaler...you will find a wealth of good ideas and advice.

Quasim McDaniel · Answer

I want to wholesale properties. Nothing else for now. I'm creating bandit signs and coming up with a direct mail campaign. I've already mailed out a few letters and I'm in the process of writing more. I'm determined to make my first deal before summer is over.

Bill Gulley · Answer

Both of ya beat me to it....LOL

Quasim, that really looks to me like nothing more than an ad, and the don't contact the tenants call us thing, while common, is something I ignore......tenants never know why I'm around when I look for my dog and ask to use the phone.....anyway....if I ever have to deal with them I can always say it was an unusual find.....

What are you doing, rehab/flips, holding, options...what?

To "qualify" a property you need to know what you're going to do with it, something could be done with most all properties if you identify the property's highest and best use, value it and acuire it for less. In some situations you can buy at a premium and still make money.

James Vermillion · Answer

What exactly are you looking to do with these leads?  You profile tag says you are a wholesaler, so are you looking to wholesale properties from another wholesaler?

Edit: Looks like Jerry beat me to it..dang it!

Bill Gulley · Answer

First leads for what?

You get spam and you think it's a lead?

Can you be more specific?

Quasim McDaniel · Answer

175,000
528 Angier Ave Atlanta GA 30308
http://www.zillow.com/homedetails/528-Angier-Ave-NE-Atlanta-GA-30308/35879358_zpid/
1/1 and 2/1
Duplex close to Ponce DeLeon Ave! 55K+ Equity on zillow with comps! Currently 50% occupancy with long term leased tenants. Rented in the 1/1 at 615/m. Quiet Area. High Ceilings. Hardwood Floors.

Here is our the rest of current list of inventory. None of these properties are currently listed. Please do not bother the tenants at the occupied properties. You may contact us for more info or to schedule a showing atinfo@imperial-investments.com or simply send an offer to contracts@imperial-investments.com or fax to (888) 908-4150

1416 Stone Mountain Lithonia RD Lithonia GA
$87,500 Vacant
Great investment property on a nice secluded section of road close to central Lithonia. Many of the surrounding properties are worth double to triple the list price! 3BR/1B. Adding a bathroom would increase value exponentially! Turnkey rent ready property!
3 Bed, 1 Bath, | 1200 Sq Ft
.25 Acres
Central HVAC, Den, Eatin Kitchen, Laundry Room/Storage, Workshed
http://i1169.photobucket.com/albums/r506/imperialinv/006.jpg

873 Gaston St. Atlanta, Georgia 30311
$27,100 Vacant
Great rental property. Renovated but needs a few minor repairs to make it rent ready. Any additions would increase the value. 15k equity on zillow. On the same street as 863 Gaston which is currently rented at 700/month. Purchasing both properties would allow for easy management.
2 Bed, 1 Bath, | 731 Sq Ft
.2 Acres
Central HVAC Eatin Kitchen
http://i1169.photobucket.com/albums/r506/imperialinv/007-1.jpg

863 Gaston St. Atlanta, Georgia 30310
$41,100 Occupied -700/m
Excellent property. Low upkeep and currently rented at 700/month. Can be purchased along with 873 Gaston which is renovated but needs a few repairs before it is rent ready. Purchasing both properties would allow for easy management.
2 Bed, 1 Bath, | 800+ Sq Ft.
.2 Acres
Central HVAC Eatin Kitchen Office
http://i1169.photobucket.com/albums/r506/imperialinv/009-1.jpg

1251 Westmont Rd. Atlanta, Georgia 30311
$58,300 Occupied- 1024/m
Rented property within the Atlanta perimeter. The property is currently rented to long term tenants at $1024 a month. Over 10k NOI! Family home close to the city. This property is perfect to hold and additional bathrooms would increase the value incredibly!
4 Bed, 1 Bath, | 1398 Sq Ft
.2 Acres
Central HVAC, Dining Room, Kitchen, Finished basement
http://i1169.photobucket.com/albums/r506/imperialinv/001.jpg

Jimmy C. · Answer

I have questionnaire that I use for every lead that comes in.  Get all of your questions answered, pull comps, run numbers before going out to look and estimate repairs.

How to qualify leads.

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