Do you feel getting off-market deals is like playing a lottery?
Hey fellow wholesalers, As a wholesaler who has a team of two VA's, runs SMS campaign and has a licensed realtor on top of VA's (who apprentices as helper/acquisition guy) , getting a steady flow of off market leads, I am curious: how many of you feel like you are playing a scratch off lottery with all the lists you pull and sellers you target? We get 2 to 5 leads daily. Our top performing lead manager/cold caller VA gets an average of two leads for us from cold call campaign. Second VA is not doing so great, but also delivers 1 lead every other day. Both of them work part time. The reality is almost all of these so called leads are unmotivated or somewhat motivated and have all the time on their hand to list it with agent or do FSBO. Realistically, we are lucky to close 1 deal a month (by closing I mean delivering it to a finish line, where it's assigned to end buyer and paid for). All the tweaks and attempts to pull so called "motivated" lists deliver near identical results. It seems like anyone you can get on the phone, who you think might be motivated to sell, has already received hundreds of calls from other cold callers and couldn't care less what seller techniques you use on them. As Rick says, they are simply not motivated. Some of them are awesome people and it's easy to establish a rapport with them (many are being jerks, yell, scream and curse at my cold callers without provocation and the moment they are asked about the property they own). But even nicest ones are there to "help you" make them a retail offer or buy at retail price. Occasionally they will agree to sell at 80% of market value, but when we run numbers it's obvious that we would have to lock it at 40%-50% of Zillow/Redfin value to make it a viable deal. Anything above that erodes any profits potential buyer would make, let alone squeezing our assignment fee, which would be on top of it. So, what is your take on it? Are there truly seasoned wholesalers that do 5-10 deals a month off market with relatively limited resources?