The World of Real Estate Wholesaling – Yoav Lavee and Haim Mamane. – Post 2
#EntrepreneuroftheWeek Haim and Yoav # Post 2
The world of wholesaling relies mainly on two elements:
1. Marketing Capabilities -> Generating Leads
2. Call / Sell Capabilities -> Our ability to convert those leads (sellers) into transactions.
Today we will focus and talk about the first element – LEAD GENERATION & MARKETING SKILLS
At the end of the day, no matter how talented and salesy we are on the phone, if we do not have potential sellers to talk to and if we do not have anyone to make offers to, we will not have closures. Therefore it is of paramount importance first of all, to develop an array that knew how to produce us a movement of leads inwards.
The world of marketing is divided into two main types of marketing – PULL MARKETING & PUSH MARKETING
In a simple explanation, PULL marketing will be a form of marketing that will get people to contact us if they are interested in services for us. PUSH Marketing will be a form of marketing that we will address directly to people without an order from them and hope they will be interested in the services we have to offer.
It can naturally be concluded that leads that come from PULL Marketing will be of higher quality and have higher conversion rates due to the fact that they have actually actively approached us. Costs of such leads can be tens if not hundreds of percent higher than leads that come from a PUSH marketing form.
The best example of PULL MARKETING would be GOOGLE PPC, we will appear in search results of people who are actively looking for a service we offer, and they will contact us.
Examples of PUSH MARKETING would be COLD CALLING & TEXT CAMPAIGNS where we contact potential sellers directly with no indication from the seller in the hope that he will be interested in what we have to offer.
The US is known for its accessibility and transparency of public information, a fact that provides fertile ground for the activity and prosperity of our industry – marketing to people with specific criteria and parameters that can contribute and testify to motivation on their part that can contribute or cause the sale of their property.
Let’s talk about building lists – first, all the information we work with is public information, with some being easily accessible to the general public and some requiring more work or “leg crunching” to get it. The principle that accompanies us in building our marketing lists is simple – the harder and more complicated it is to obtain the information, the less players will work on that information. Examples of list types that can indicate motivation – Probate list, Eviction list, Tax delinquent list, Water shut-off list, Liens, Pre foreclosures, Foreclosures, Divorce list and more.
Examples of parameters with which we can refine our lists – people who own the property over X years, people over a certain age, owners of properties that do not live in their property (investors), owners of empty properties, percentage of EQUITY they have on the property, people who inherited property, etc. .
The lists can be compiled independently from information we obtain directly from the district or through the purchase of lists from dedicated information providers. (At the end of the post we will mention names of suppliers).
The same lists will contain the name of the property owner, the address of the property where he lives (Mailing address) and the address of the property that falls under the same parameters that we defined in the list (Property address).
The next step will be to start marketing to those lists – before starting any type of campaign it is important to check the level of legality for each form of marketing, even at the state level at the federal level.
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