All Forum Posts by: Troy Lilly

@JD Martin Thank you for a timely reply. I'm sure they are, and like the police they are necessary to keep a clean and usable environment like you mentioned. But in order to make sure they are being fair and to prevent them from future abuse to the future, I felt it necessary. It has been dealt with, and I appreciate your response.

So I had a post update on a topic I find very valuable and useful get removed... If you check out my post about probate lists, it was pretty much reposting that with an update on results over the course of the last year and growing to 25+ deals/month with the information given in the post.

It had very little to do with promoting my products, and a lot to do with a valuable topic. I have taught people for free how to obtain the leads, however, I do offer a product for people too lazy or too busy to be taught... that's besides the point... the topic was removed fro self promotion when I was simply giving really good information and personal experience.

What's worse is that the moderator talked down upon me as an individual for trying to provide real value to the community. After reviewing the said Moderator's profile, he had started a umber of discussions promoting himself quite bluntly looking for services... Some moderator, right?

Anyway, just wondering what I can do about this. There is no policing the police, corrupt or not... I just wish they didn't attack something actually helpful to many. What a shame.

Hey just wanted to update this post with some new insights in regards to leads and way more expansion in my experience and newly gained knowledge.

I still hold probate leads at the highest pedestal in terms of quality of leads, and if you are marketing and you aren't marketing to these leads, you are wasting marketing. Or at least not optimizing your marketing.

My conversion with these leads still supersedes the conversion of more generic leads by at least 2x... and I don't mean just conversion, but also price for the deals contracted with these leads.

on the flip side to that, these leads are very limited in nature. I wouldn't have been able to hit 20-30 deals/month targets with these leads alone. In order for actual big expansion, I needed to dip into absentees and hit a higher quantity, during which I still focused on Probate leads separately, and these were still by far better and higher conversions. But only accounting for 2-5 deals/month max. Where as absentee accounted for the other 20+ deals a month. (lower spread, lower conversion.)

Moral of the story... both leads hold their place, but probates should definitely be a big focus, and a beginning focus, along with perfecting your systems and your actual DM piece.

Here's a ROUGH breakdown of the last 6 months of deals comparing the 2 lead sources (just to give you an idea):

Probate:

Mailing 4,000 leads/month (6 months) (total mailed 24,000)

-12-14 deals (240 leads roughly)

-average assignment: $17,500 (our sales team is top tier)

Absentee:

Mailing 40,000 leads/month (6 months) (total mailed 240,000)

-70-80 deals (thousands of leads...2400+)

-average assignment: $9,500

These are again, rough numbers, but paint the picture with the KPIs that I was able to track...

Let me know if there's any questions, I feel as if this topic is very under discussed and I would like to spread some of what I have learned.

*reposting because I wish I came across it when I first started out, and I have a good update with a number breakdown

(8/6/18)

Hey Texas BP,

I want to take a second to discuss a very undervalued and underrated topic-- Lists Leads.

It's common knowledge that the list of leads you hunt, (or hopefully direct market to), are the most important part of marketing, yet it seems to be the most neglected thing in marketing. I see all investors flooding the market place with Listsource leads or other common leads, when it would behoove the investor to spend whatever amount of money that makes sense to get the highest of quality leads.

My 2 and half years of birddogging in the Houston Market has allowed me to fully understand how to get the highest quality leads. I have become known in my niche as the guy who provides the value with the leads I provide and the lists I bring. It helps me to network and provide value to other investors I network with.

With all of those perks being discussed, let's take a look at the math on the marketing side:

Let's use 2 hypothetical lists for example:

1) My scrubbed list of probates to check the probate records for "real property being inherited" and a different mailing address for the applicant and the inherited or soon to be inherited property.

2) A random list pulled from ListSource containing certain criteria of out of state absentee and 90% or more equity in the house.

List 1:

mailing 1000x5 times with a postcard costing $.50 ($2,500) (hypothetically let's say 80% of these leads have motivation) ($500 is in vain)

List 2:

same $2500, except only 50% of these leads have motivation of some sort, so there's more tire kickers and less potential. ($1250 will be in vain)

With this math, the value of a great list will be worth at the very least $750 plus value in the market place, more concentrated motivation, and much less tire kickers.

What does the BP community think?

I'll end this long discussion by asking everyone not only what they think, but what are their experiences with lists and leads and wasting potential money on marketing?

Thanks BP!

Hey BP,

Wanted to bring up a discussion regarding another under-discussed topic amongst wholesalers (you can check out my marketing one about probated vs other leads and how to get them)

The topic: THE 80/20 PRINCIPLE... and how it applies to certain strengths in weaknesses.

Amongst wholesalers, if you're experienced at least, you know that wholesaling is marketing and sales. Marketing being more valuable, but sales being the driving force of super success or average.

So how does this apply to 80/20 (Pareto's law)?

well by focusing on the 20% that's going to create 80% of the results. While expanding my personal business along with a business partner to 6 figures/month over the course of a year, the biggest thing I learned was maxing your strengths and outsourcing your weaknesses.

My strength, for example was marketing, his was sales. Be honest and rate yourself from 1-10... if you're a 10 in marketing but a 4 in sales, instead of losing deals and higher spreads to "learn the ropes", you can max out on what you're good at, bring that value to the table and find a 10 in sales.

This goes with everything among the business...

We realized we sucked at initial calls so instead of getting better, we focused on hiring the best at initial calls, and this was one of our best hires. we went from 10 deals/month to 20 deals/ month almost by the next month after the hire.

We did this again on the title side, and it freed up our work load to almost half it's size.

Moral of the story provide value with what you are good at, value exchange and partner with someone, or hire people to fill the spots you aren't optimal in.

Doing so allowed me to create a virtual wholesale system in other cities (right now we are looking for the best wholesalers in San Antonio to expand to also) by providing my value: prescreened high quality leads, to good wholesalers... we split 50/50 they get leads ready to sign, I take on the marketing and screening, they create the bigger spread than I could, I cover marketing costs, they get 50% equity split on leads that were free to them... that's a win-win-win... allowing us to expand to as many deals/month the experienced wholesaler can handle. Right now, in Austin, this system has created an extra 10 deals/ month in our business, and a free 10 deals/ month in our partners in Austin.

That's literally $50,000/ month extra on average for the both of us, just by using this 80/20 and maximizing what each of us is good at. That's efficiency and creating winning systems.

Let me know what you guys think and let's start a good discussion!

Hey just wanted to update this post with some new insights in regards to leads and way more expansion in my experience and newly gained knowledge.

I still hold probate leads at the highest pedestal in terms of quality of leads, and if you are marketing and you aren't marketing to these leads, you are wasting marketing. Or at least not optimizing your marketing.

My conversion with these leads still supersedes the conversion of more generic leads by at least 2x... and I don't mean just conversion, but also price for the deals contracted with these leads.

on the flip side to that, these leads are very limited in nature. I wouldn't have been able to hit 20-30 deals/month targets with these leads alone. In order for actual big expansion, I needed to dip into absentees and hit a higher quantity, during which I still focused on Probate leads separately, and these were still by far better and higher conversions. But only accounting for 2-5 deals/month max. Where as absentee accounted for the other 20+ deals a month. (lower spread, lower conversion.)

Moral of the story... both leads hold their place, but probates should definitely be a big focus, and a beginning focus, along with perfecting your systems and your actual DM piece.

Here's a ROUGH breakdown of the last 6 months of deals comparing the 2 lead sources (just to give you an idea):

Probate:

Mailing 4,000 leads/month (6 months) (total mailed 24,000)

-12-14 deals (240 leads roughly)

-average assignment: $17,500 (our sales team is top tier)

Absentee:

Mailing 40,000 leads/month (6 months) (total mailed 240,000)

-70-80 deals (thousands of leads...2400+)

-average assignment: $9,500

These are again, rough numbers, but paint the picture with the KPIs that I was able to track...

Let me know if there's any questions, I feel as if this topic is very under discussed and I would like to spread some of what I have learned.

Also, in regards to selling the list... I'm no longer doing so in Houston.. but I will be exploring San Antonio, Austin, and Dallas/Fort Worth. That's if I get the same interest I had, and I can find some trust worthy investors to network with. I would rather equal value exchange compared to money, but definitely worth the networking pitch.

Cheers

@Tristan S.

Absolutely!

@DJ Rogers
as spammy as my brother's response seems it is a great answer to almost any other inquires about lists. Find value through what other people arent doing. Whenever we are at networking events, we catch a lot of eyes and ears because of our unconventional knowledge of gathering less competitive leads.

@Antonio Coleman

Hey man @Ryan Lilly and I use a direct mail with a good brand and 4-7 hits.
We just started experimenting outside of the box and plan to team up with some very clever guys who employ skip traces, voicemail blasts, and cold calls funneled into a last screening.
I am a fan of your work man, what is your basic system of funneling. Wish I had the expertise to do your kind of marketing.

@Shermika R.

I'm definitely interested in spreading to other markets, since the lists are so peculiar it takes a bit to put them together. 

PM me your email, and I'll send you over samples and discuss what I can do for you over there in Boston.