All Forum Posts by: Brandon Mitchell

Hey guys, I might be interested in something like this. I've been wholesaling for about a year now, 7 deals under my belt. Now the struggle has been staying consistent. Interested to hear everyone else's experience level...

They were a mix of tax delinquent, high equity, pre-foreclosure, and a little driving for dollars. 

It was a little over 1300 prospects but we called 2-3x and some of them returned multiple numbers. We use Mojo Dialer so we can make a ton of calls per night. If you have ever worked an inside sales job where you manually pick up the phone and dial/smile all day, you would really really really appreciate that app. 

@Larry Higgins Awesome info, thank you sir!

@Cody Evans Just scrolling through this thread to get some D4D numbers. I just closed my first deal from cold calling after a lot of testing.

1) To hear how to talk to people I recomend looking up Brent Daniels or John Martinez. My script is pretty much what they say with a few tweaks.

2) Find a good/reliable/affordable skip tracer. Shoot for .30/lead if you plan on bringing them consistent business. I negotiated .30 with the promise of 1,000/month. I had him send me a video of him using lexis nexus with a name that I sent him. You want someone with TLO or Lexis Nexus. There are a bunch of them on Fiverr or Upwork.

3) Go BIG. We had to make approx 5,000 calls to knock out the first deal.

Can anyone answer the OP's questions? I'd love to see someone who has done D4$ deals break down the numbers and answer his question directly. 

I've dabbled with it and my rough numbers are about 28 houses per lead. I count a lead as someone that agrees to a follow up call to receive a cash offer after the intitial prospecting call.

@Shawn Crawley @Bara Nwokoma Shawn that is good pricing. That is using TLO or Lexis Nexis? Bara are you paying similar pricing? Have you guys kept track of your contact rate, accurate numbers etc.?

I have a guy through Upwork that has access to TLO he claims, this is probable I believe but here are my results. If I'm getting worked and there is someone more experienced out there please chime in...

Past 2 weeks

1525 Calls

30% were bad, disconnected, busy or fax. This is probably higher since a lot of them are just unknown voicemails. Each address and name returns a few calls and there is a probability percentage attached to each number. So I'm expecting to get some bad numbers and the skip tracer is not claiming they are all accurate. I also get email addresses that are much less accurate. 

3% Contact rate (meaning we talked to the right person and/or dropped voicemail on the right person's phone)

Only about 5 or 6 mild leads, meaning someone who says yes to at least entertaining a cash offer or follow up call from acquisitions manager

I'm paying .50 a lead but skip tracer will do as few or as much at a time as I want with a 24-48 hour turnaround. This is key for me since I'm working with pre-foreclosures a lot. 

Would love to see your guys' results. I've tried a few different services, VA's etc. and am always looking to improve.

Awesome, sounds like a good estimate. My spend is a little higher because Austin is pretty competitive I'm guessing. Once you lock one down please share and I'll do the same.

If anyone out there has there numbers down to a science based off closed deals please share.

Was on a pretty limited budget so that is about 6 months. Took me that long and that much to learn that it wasn't enough haha.

What are you basing the 1500 off of? 

In Texas it is just a basic purchase agreement easily dowloaded from the Real Estate Commission but I'm sure it is different in California. Try searching "California Purchase Agreement" or something like that and you would need to make sure that it is assignable.

I'd recommend finding a more experienced investor, let them know what you are doing, how much you are marketing, what your skills are etc. and partnering with them on your first couple of deals so they can help you with all the back end stuff like filling out the contract once you find the right one, finding a buyer, helping with valuation, dealing with Title company etc.  

I am marketing locally in Austin, TX and have spent about 3K resulting in 15 solid leads and 1 contract that fell through unfortunately. Still no closed deals from it but by those numbers I am figuring approx. 3-4K a month should average about a deal a month.

Just curious what successful folks with the direct mail strategy are spending per deal. I know it varies by market but am curious to see what has been working for other people. 

I've been using this site as my real estate google for a little over a year since the idea of real estate investing popped in my head but haven't participated in the discussions too much. I recently came across an out of state lead where I didn't know anyone and it reminded me I need to network more!

I've worked in light construction/painting etc., mortgages for a brief stint, flirted with the idea of rehabbing and had my license at one point but went into the music biz instead. I moved to austin about 2.5 years ago, got into multi-family leasing/management and eventually project management. The PM job re-ignited my rehabbing inspirations and I've always had the entrepreneurial bug so REI seemed a perfect fit for me.

Right now I am focusing on knocking out a few wholesale deals before rehabbing and first and foremost CLOSING MY FIRST DEAL. I am working the foreclosure list in particular. I put project management on hold for a few months to see what I can do on my own while working a part time sales job to pay the bills. This has given me a ton of time to do the time consuming, less expensive stuff like door-knocking, bandit signs and cold calling that is awesome for educational purposes. 

Looking to network with fellow investors in Austin looking to buy, out of state/virtual wholesalers who would be interested in some JV deals and also just some like-minded individuals in Austin.