Before I was in real estate, I was a sales and marketing rep for a local radio station in Tampa Bay. I freaking loved my manager. I looked at the guy like a second father. I learned a lot from him, too, soaking up knowledge and wisdom from him whenever I could.
Andrew “The Maestro” Massaro here, and one thing he always told me was:
“If you want to consistently make money, make sure your funnel is always full with prospects.”
Sales, in any industry, is a numbers game. And, wholesaling is no different.
Because, what are wholesalers? Investors?
Nah… we’re marketers. Rehabbers and landlords pay us to find them deals. And, in order to find deals, we need to entice people to pick up the phone and call us.
We make the phone ring.
So, now that we know this, all we need to know is how many leads we need in order to meet our goal. I can tell you from personal experience that in order to flip one house, on average, you are going to have to look at about 50 leads. I’m not talking about just contracting to flip. I’m talking converted contracts… closed deals.
“Marketing is too important to be left to the marketing department.”
Fifty leads = one closed deal
Now, if 50 leads equals one deal, does it make sense that 100 leads will get you 2 closed deals?
It does to me.
So, take what’s working and beef it up. If you’re putting out 100 bandit signs, put out 200 next time and track the results. If you are buying leads from the internet, add a neighboring county and increase your numbers.
There is the law of diminishing returns, which states that continuing efforts toward a goal will eventually plateau and decline.
But, my guess is that it will take a ton of money to even approach that point; more than most wholesalers have or are willing to put into their business. So, don’t worry about it.
“Marketing is a contest for people's attention.”
Quantify, create, achieve
Quantify your business, and then create a plan to achieve those numbers. That’s how smart people do it. Successful ones, too.
If you want consistency in your business, you’ll begin doing this.
Nothing sucks more than flipping a house for $20,000… and then failing to flip another for 6 months. It’s better to make $5,000 a month, than to make one big haul… and then go dry for an extended period.
Instead, do what the pros do: quantify your business by starting at the end and working your way backwards.
And, then be consistently prosperous.
“People are in such a hurry to launch their product or business that they seldom look at marketing from a bird's eye view and they don't create a systematic plan.”
~Dave Ramsey
Tell me
What methods do you use to remain consistent with leads and deals? Share below.
Quantify your business
Create a plan to achieve those business goals
Always consistently market – we are marketers
Andrew Massaro
, also known as "The Maestro", is the founder of Wholesale Coaching, Inc. and is one of the most sought-after wholesale and REO coaches in the U.S. A University of Florida graduate, Andrewís house flipping career started in 2005, during one of the most dramatic and awe-inspiring real estate booms in recent memory.
After many years of success flipping houses in Tampa Bay, Andrew began also pursuing his passion and purpose: hands on, one-on-one coaching and mentoring other investors. Through Wholesale Coaching, students interact with and are coached by Andrew, personally. He has the unique ability to teach and guide his fellow investors to the results they desire. The one-on-one interaction and partnership is the key and what really sets him apart from others who offer coaching.
Andrew is also a loving husband, father to a beautiful little girl, Charlie Lynn, and an active board member of Current of Tampa Bay, a non-profit focusing on humanitarian efforts and showing love to underprivileged individuals.