Wholesaling Real Estate Guide
This is a continuation of “3 Small Tweaks” Part 7…
We talked about lead analytics, now let’s talk about follow up. There’s two different follow ups, we talked about following up by talking to the sellers, now let’s talk about following up with the marketing. Follow up in the marketing is incredibly important because you continuously send. For example, we have an inheritance list. Our inheritance list just grows every single month. Our probate list grows every single month. Initially, when we get a fresh list, the fresh list gets a yellow letter. We keep the list updated continuously with all the people that call in that want to get removed. Then what we do is, we turn around and they get a postcard after that. Every month, they get a postcard, postcard, postcard, postcard. Now absentee owners, on onset, we’ll send them a yellow letter, after that they get a postcard, postcard, postcard. And we’ll just continuously keep the lists updated and then mail and mail and mail. We’re talking 30 to 40 thousand units a month of mail. We’re trying to increase even more when we get to anywhere from 50 to 100 thousand units a month. Once we reach a capacity, we go into another market. Whatever market we decide. That’s how you can go in, you can scale it from, “okay, I want to have an income goal,” doubling your income goal, tripling your income goal and then going out and scaling your business, reinvesting 15% back into the marketing, really get a tie down on your lead management when leads come in, and manage it correctly using something like FreedomSoft. Analyze each campaign you do for the highest ROI, then eliminate the campaigns that are not working. If you look at your pay-per-click campaign and the ROI for the pay-per-click sucks, delete it. Be done with it, and start focusing and putting the money into the campaigns that produce the highest ROI. Then you continuously track your results and measure. You track and measure until you have it so dialed in that you have it down to a science between your marketing, your numbers and how many deals you can get. Then it doesn’t become a guessing game. I talk to so many wholesalers or people who are getting involved in the business and they go, “There’s no guaranteed income. I don’t know if I’m going to be able to make it.” Listen, once you get it dialed in, you know your numbers, what type of mailing you can do, what type of results you can get, what type of mailing you can deal with, what type of results you can get; this business becomes crystal clear and you know exactly what to do and how to do it.
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