The Ultimate Follow Guide for Your Leads for Wholesaling Real Estate | Summary and Q&A

TL;DR

Learn how to effectively follow up in wholesaling real estate to gain a competitive advantage.

Key Insights

• 🤝 Follow-up is critical in wholesaling real estate, with a significant percentage of deals resulting from persistent efforts.
• ❓ Using a simple system, such as Google Sheets or an affordable CRM, is sufficient for effective follow-up.
• 🥺 Different communication methods, such as face-to-face meetings, phone calls, texts, social media, email, and regular mail, can be utilized based on the urgency of leads.
• 🤪 Knocking on doors may be necessary for leads who have become unresponsive or have gone MIA.
• 👂 Following up at least once a quarter with marketing lists, such as high equity, absentee owner, or code violation lists, helps maintain connections and identify potential opportunities.
• 🤯 It is important to find a balance in follow-up efforts, avoiding excessive contact while remaining persistent enough to stay top-of-mind.

Transcript

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Questions & Answers

Q: Why is follow-up important in wholesaling real estate?

Follow-up is important because sellers may not be ready to sell when you first contact them, and being persistent increases your chances of getting the deal when they make a decision.

Q: What is the best system for follow-up in wholesaling real estate?

It is crucial to stick to one system that you can effectively use and manage. Google Sheets or an affordable CRM can help you keep track of leads and follow-up activities.

Q: What are the parameters to consider in follow-up?

It is essential to define the urgency of leads, such as hot (ready to sign), warm (close to making a decision), and cold (potential future opportunity). This helps prioritize follow-up efforts.

Q: When should follow-up be stopped?

Follow-up can be stopped if a seller demonstrates hostility or explicitly asks to be removed from your contact list. However, polite and non-responsive leads may still be worth periodic follow-up to catch them at the right time.

Summary & Key Takeaways

• Follow-up in wholesaling real estate is crucial, as 70% of deals require some form of follow-up.

• The purpose of follow-up is to be top-of-mind when a seller decides to sell their property.

• A simple system, like using Google Sheets or an affordable CRM, is sufficient for effective follow-up.