All Forum Posts by: Jonathan Loynaz

I haven't done DM in over a year plus each market is different so my numbers would be off. For my team, it takes 31 RVM leads to land a deal. We're in South FL. 

Conversion rate will be better with DM but you'll be paying more per deal then you will be with RVM.

@Kevin Brenner I would not worry about the DNC. Just use a VOIP phone number and don't mention your company name until you're signing a contract. Plus, you're technically not selling a product or service so it does not apply to asking if they want to sell their properties.

Email does not work as it will get pushed into spam very easily and will be nearly impossible to get out unless you create a new email every time.

RVM does work, that's 100% a numbers game. We started sending them out until we began getting contracts and now we know how many we need to send out to get a contract, how many contracts turns to a closed deal, and how many deals we look for each month.

@Jim S. I'm sure there have been deals where the buyer thinks we don't know what we're doing but honestly, that's just a part of the business for us all. We've definitely had buyers that do shady stuff and waste our time. Most things can smoothed out with clear communication. The good thing is there's always more buyers. One of the things that we do is have the buyers submit an informal offer before visiting the property. That way, they've vetted the deal and made a conservative offer and if that offer is close to what we're looking for, we allow them to visit the property.

Very rarely do we have with the same buyer on multiple deals. Every time I've worked with a repeat buyer, they have very specific deals they're looking for and they know what they want. And our idea is to never depend on one buyer anyways.

Hi Lauren

White pages won't get you accurate results. You can try Need To Skip (not affiliated to them at all).

Also, 90 addresses probably won't produce a deal, it's all a numbers game. Try to gather 500+ 

Good luck!

Hi @Luis Paulino, sure it would be nice for you to go see the properties for a few months to get the jist of repairs but in order to scale, you'll want to eventually not have to visit every property you get under contract. I've been wholesaling for 3+ years and I myself still have zero construction experience and nobody on my team has construction experience either so don't think of it as a crutch.

We ask the sellers over the phone how much repairs the house needs, lock it up and when we have buyers visit the property, they will let us know whether that repair estimate was accurate or not. If not, we simply let the seller know that they weren't 100% truthful to the repairs needed and more times then not, we'll get a price reduction.

In regards to list, definitely a free and clear/absentee owner list won't produce much of a result. Especially only 1000 of them. Consider finding tax delinquents, code violations, or driving for dollars in your area. 

I would also say to stop the mailing campaign, double down on cold calling and RVM. Be consistent, always follow up, and study some sales training material. 

Sorry @Jared Vidales! I never saw your comment, I would've gladly done it!

@James K. I used them. Not great for wholesaling but I think they are decent for farming zip codes. They're not good for searching individual properties phone numbers. The "We just sold this house in your area" pitch works well with zip code farming.

We tried cold calling, ringless voicemail, and mass emails with no return on investment but then again we were not consistent + we hand dialed instead of using Mojo.

They send me emails that they now have 6 month contracts so it might be worth it if it's cheaper. Nowadays I spend more then that skip tracing one list.

I would say closer to 50% numbers are correct but that was 2 years ago. Time flies!

Good luck!

You can absolutely find someone who charges $.20-$.40 per address to skiptrace with Lexis Nexis or TLO. I have a full time staff of 2 to skip trace thousands of addresses everyday. They use their own accounts. 

Cold calling, like any other marketing, requires grit, consistency, and money. My team calls over 50K numbers every month. 

Especially when starting out, make sure you're only calling very niche lists (D4D, probates, tax delinquents, code violations). Everything else is not as lucrative and a waste of time unless you have a team of callers.

@Jared Vidales,

Did you ever use them? If so, is the service any good? I plan on cold calling the zips of property that I've recently bought in. Don't want to dish out $1,200 for nothing!

Thanks in advance!

Great to have you on BP and in FL! Good luck out there!