Wholesaling Marketing Strategies
I am working on developing the marketing strategy for my new wholesaling business. I have limited funds so I don't want to start with expensive paid ads right now, but that limits my options. I have thought about direct mail campaigns and like the idea, but that tends to have at least a 2-3 month lead time on contacts. I've also thought about direct contact, such as door to door or cold calling, but door to door is very time consuming and doesn't have the promise of meeting the actual owner of the property, and I still haven't figured out how to get phone lists of potential leads. Does anyone have any advice for how make quick contact with leads or how to find/build a list to make cold calls?
#2 Wholesaling Contributor
- Wholesaler
- Tampa, FL
Hey @Greg Garza,
You can use several platforms to build a list, such as Propstream, Batchleads, and Dataflick. After gathering your list, you will have to skip trace it to get potential phone numbers of the property owners. For skip tracing, you can use platforms such as BatchSkipTracing and KindSkipTracing.
Remember that for cold outreach, the cash cycle tends to be 6-9 months
Quote from @David Ramirez:
Hey @Greg Garza,
You can use several platforms to build a list, such as Propstream, Batchleads, and Dataflick. After gathering your list, you will have to skip trace it to get potential phone numbers of the property owners. For skip tracing, you can use platforms such as BatchSkipTracing and KindSkipTracing.
Remember that for cold outreach, the cash cycle tends to be 6-9 months
6-9 months seems like a long time. Thank you for the resources, but could you explain what skip tracing is a little bit? Is that just finding the contact information for the owners I want to contact or is it more like filtering the results of the list builder to suit my parameters? Also, is there any method you know of to shorten the cash cycle?
#2 Wholesaling Contributor
- Wholesaler
- Tampa, FL
Quote from @Greg Garza:
Quote from @David Ramirez:
Hey @Greg Garza,
You can use several platforms to build a list, such as Propstream, Batchleads, and Dataflick. After gathering your list, you will have to skip trace it to get potential phone numbers of the property owners. For skip tracing, you can use platforms such as BatchSkipTracing and KindSkipTracing.
Remember that for cold outreach, the cash cycle tends to be 6-9 months
6-9 months seems like a long time. Thank you for the resources, but could you explain what skip tracing is a little bit? Is that just finding the contact information for the owners I want to contact or is it more like filtering the results of the list builder to suit my parameters? Also, is there any method you know of to shorten the cash cycle?
The shorter the cash cycle, the more expensive the marketing channel. Shorter cash cycle marketing would be PPC, but I wouldn't recommend it if you are just starting out. Wholesaling is just like any other business; it takes time to build systems and processes to run a profitable operation. Don't expect it to be easy because it will never be.
Skip tracing is a tool that finds any number associated with the requested address.
Quote from @David Ramirez:
Quote from @Greg Garza:
Quote from @David Ramirez:
Hey @Greg Garza,
You can use several platforms to build a list, such as Propstream, Batchleads, and Dataflick. After gathering your list, you will have to skip trace it to get potential phone numbers of the property owners. For skip tracing, you can use platforms such as BatchSkipTracing and KindSkipTracing.
Remember that for cold outreach, the cash cycle tends to be 6-9 months
6-9 months seems like a long time. Thank you for the resources, but could you explain what skip tracing is a little bit? Is that just finding the contact information for the owners I want to contact or is it more like filtering the results of the list builder to suit my parameters? Also, is there any method you know of to shorten the cash cycle?
The shorter the cash cycle, the more expensive the marketing channel. Shorter cash cycle marketing would be PPC, but I wouldn't recommend it if you are just starting out. Wholesaling is just like any other business; it takes time to build systems and processes to run a profitable operation. Don't expect it to be easy because it will never be.
Skip tracing is a tool that finds any number associated with the requested address.
That makes sense. I think i'll get my direct mail campaign started while I look into some list builders. I'm also going to start looking around at skip tracing services. Thank you for the advice. It's been a huge help.
#2 Wholesaling Contributor
- Wholesaler
- Tampa, FL
Quote from @Greg Garza:
Quote from @David Ramirez:
Quote from @Greg Garza:
Quote from @David Ramirez:
Hey @Greg Garza,
You can use several platforms to build a list, such as Propstream, Batchleads, and Dataflick. After gathering your list, you will have to skip trace it to get potential phone numbers of the property owners. For skip tracing, you can use platforms such as BatchSkipTracing and KindSkipTracing.
Remember that for cold outreach, the cash cycle tends to be 6-9 months
6-9 months seems like a long time. Thank you for the resources, but could you explain what skip tracing is a little bit? Is that just finding the contact information for the owners I want to contact or is it more like filtering the results of the list builder to suit my parameters? Also, is there any method you know of to shorten the cash cycle?
The shorter the cash cycle, the more expensive the marketing channel. Shorter cash cycle marketing would be PPC, but I wouldn't recommend it if you are just starting out. Wholesaling is just like any other business; it takes time to build systems and processes to run a profitable operation. Don't expect it to be easy because it will never be.
Skip tracing is a tool that finds any number associated with the requested address.
That makes sense. I think i'll get my direct mail campaign started while I look into some list builders. I'm also going to start looking around at skip tracing services. Thank you for the advice. It's been a huge help.
No problem! Feel free to reach out with any questions
hey @Greg Garza - plenty of low cost options out there.
The truth is, everything works - and so everything can both be a good investment or a waste of money lol!
Most new wholesalers sizzle out after a few months (or even less) because you don't realize the amount of up front work and capital that's needed for something like this.
If you're still wanting to do it - lowest cost of entry I could think of getting yourself a list of a few thousand properties and then hammering through them for hours a day until you find someone interested.
-
Broker New York (#10401359681)
- 929-349-8042
- http://www.ClosedByMo.com
- [email protected]
Quote from @Mohammed Rahman:
hey @Greg Garza - plenty of low cost options out there.
The truth is, everything works - and so everything can both be a good investment or a waste of money lol!
Most new wholesalers sizzle out after a few months (or even less) because you don't realize the amount of up front work and capital that's needed for something like this.
If you're still wanting to do it - lowest cost of entry I could think of getting yourself a list of a few thousand properties and then hammering through them for hours a day until you find someone interested.
I agree, that's what the plan is right now. I'm surfing through the county websites right now trying to build my own lists. Once I start getting a few solid possibilities I'm going to start calling all of them and sending out mailers that I'm making myself. It seems to be the lowest cost way to source leads for now, but once I get through my first deal or two, I plan on using an actual service to handle direct mail campaigns and social media campaigns. Hopefully, I can use my own research and screening processes to shorten that cash cycle. From what I hear, cold calling can be effective but generally it'll take 200+ calls to land even a few possible leads.
If you don't have a ton of cash, you gotta put in more effort. Knock on doors, talk to the neighbors, tell them you're looking for houses to buy. You gotta hustle, once you find some deals, money will find you. There's always a shortage of deals in the market, specially now.
Good news is that once you gain some traction, you'll be able to buy better lists, a power dialer and even hire a VA to help you find qualified seller leads (I run a call center for Real Estate). Gotta start somewhere though, take advantage that you're small and resourceful.
That's the plan right now. I working on getting some lists from the county offices around here so I can scrub them and start making cold calls. I also need to get in contact with some investors interested in the Jacksonville, NC area. It seems to be a good area to invest in, especially for flips, but all my contacts are in Wilmington.
Quote from @Greg Garza:
That's the plan right now. I working on getting some lists from the county offices around here so I can scrub them and start making cold calls. I also need to get in contact with some investors interested in the Jacksonville, NC area. It seems to be a good area to invest in, especially for flips, but all my contacts are in Wilmington.
If its not too far away, hit up all the people you know in Wilmington once you find a deal. They may be interested or may know someone closer by who is. You can also scrub public records to see who has recently bought in the area (if available) all cash, some of these folks are investors, hit them up too. Best of luck.
If I did it I would drive around my neighborhood and drop off notes in front of houses that look like in disrepair. Take note of address, find the owner and see if they would be willing to sell. Hope this helps 😊