Dale on the Daily

Time vs Money: The Real Estate Wholesaling Lead Generation Guide

• Dale Kerns • Season 1 • Episode 4

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Lead generation strategies for real estate wholesaling should be chosen based on your available time and money, not on what others are doing or what seems trendy. We break down how to match your resources with the right approach to get quality leads without wasting resources.

• More time than money? Join a successful team to make calls and learn the business without upfront investment
• More money than time? Focus on inbound leads through PPC, PPL services, or direct mail
• Inbound leads (like PPL) let you choose specific markets and property types
• CRM choice should match your lead strategy - from Google Sheets to comprehensive systems like ReSimply
• Building seller communication skills matters more than having fancy systems
• Pick one approach and stay consistent rather than jumping between multiple strategies
• Success comes from mastering fundamentals first, then scaling up your operation

Like this video, subscribe to the channel, and check out my previous video on the Hedgehog Concept to learn more about focusing on one strategy for success.


Speaker 1:

On today's video, I want to talk about something that comes up all the time in Facebook chats, facebook groups and mentorship programs that I see all the time and even when I was first starting out, wholesaling I had questions about, and that is lead generation. Where are you getting your leads from? What CRM are you using? I was in a Facebook chat and one of the Facebook groups that I'm a part of and the question was new to the group what's everyone's favorite lead generation source? Do you buy lists or go to the courthouse? And what's your favorite CRM? So on this video, I'm going to break down what I believe are criteria and things to take into consideration of to what lead source and lead generation you're going to use, and also that pertains to the CRM as well. So these are typical questions when you're first starting out and wanting to get leads, but the answer isn't as simple as you would think. It depends on what I believe are four factors that you need to take into consideration consideration and, based on those factors and where you are, the answers are going to be different on what type of lead generation and lead sources you're going to use and also what type of CRM you're going to use. Those four factors are how much time do you have, how much money do you have and then, based on that, are you going to do inbound leads or are you going to do outbound leads. So in most cases, you're going to have either more time or more money once you start your journey, and that's going to determine what are those lead sources that you use. No-transcript, you're either going to team up with somebody to make calls and do deals with them, if you have more time and less money. So you're not investing in the CRMs, you're not pulling lists, you're not skip tracing, and if you fall into this category, my recommendation would be to join up with a team that is already doing deals where you can find them inside a Facebook group, inside the mentorship program, and team up with them, work for them. And team up with them, work for them, allow them to have the resources to get the leads and you're just part of their team making calls.

Speaker 1:

So you don't have any money that you need out of your pocket. You don't need to see our ads, you don't need to pull lists. You can get on the phone with sellers and hone those skills of talking to sellers, seeing how the wholesale process works, how deals are done, how to structure deals, how to talk to sellers and really refine and hone those skills before you start putting your own money into it to pull different lists and get different lead sources. If that's what you want to do, so you're spending more of your time and not your money. That's better to do it that way than and learn through the process, than burn through a bunch of money and not have any success. That's if you have more time and less money. You're probably going to go more on the outbound route, where you have to make outbound calls and a lot of them to get a few people that might raise their hand and say I want to sell. If you have less time and more money, then you're most likely going to be able to get inbound leads.

Speaker 1:

So this will be PPC, pay-per-click, like Google Ads and online marketing, ppl sources, which is pay per leads. So one I use is iSpeed to Lead. There's others like LeadZolo and Property Leads, where you can go to a marketplace and you can purchase leads individual leads at a time for PPL, and then you can also do direct mail, so you send a bunch of mailers out, have people call back that want to sell their properties or are interested in seeing how you can help them. And you also have texting um, I put texting in that category because it is an outbound marketing channel and you can wait for responses back. But that is also kind of an outbound lead source where you have to do a lot of it to get a few handful of people to call you back and market. So these leads with the inbound, you can get more people quickly that want to. That already have raised their hand and said that I want to sell. It requires more money up front, but you don't have to spend a lot of time making thousands of calls to get a small percentage of people that want to sell. You already know who wants to sell. They're calling you, they're calling in. Wants to sell. They're calling you. They're calling in. They've already filled out a form online and you can purchase that lead and you can talk to them right away. So if you have more money and you can spend it on that and maybe not as much time, that's the route to go, or that's the route you could go if you are in that situation.

Speaker 1:

With the inbound leads PPC, ppl, direct mail you can also pick the markets that you want to buy in and you can also pick the leads that you want to purchase. So you can kind of cherry pick the people, the type of sellers that you want to talk to specifically, with PPL you can buy owner occupied only. You can buy tenant occupied only. You can buy full rehab properties. Where it needs all the work it's already vacant. So you have a lot more choice of the leads you can purchase with PPL, specifically PPC, and you can market to just those specific markets and get those leads back in.

Speaker 1:

Currently I'm working with PPL leads. This fits my time and my budget parameters and at the moment I can cherry pick the leads that I want, the markets that I want. So I know exactly the type of person that I'm going to be talking to. So it fits better with the time that I have to talk to sellers that already want to sell, rather than spending the time to make a thousands of calls just to get a handful of people back in. So this leads to the CRM question.

Speaker 1:

The CRM question is also dictated by how much time and money you have in a similar situation, but there's less options and it's a little bit easier to pick which one you want. So if you have time and not a lot of money and you're going to be able to make a bunch of calls, batch Leads is one that I've used in the past that can organize leads. You can also make calls and dial through there. So it is a great CRM and source that you can get leads as well. Currently I'm using ReSimply, which I absolutely love. It was an upgrade from what I was using before and it allows me to organize leads, make calls, send texts, send email campaigns, put people into follow up campaigns and things like that, and there's a link in my bio where you can get a discount on that. So if you are looking for a simple, easy to use CRM, then I would recommend Resimply CRM, then I would recommend Resimply. If you need the dialer, it also comes to where you can make calls out of that as well. So, yeah, how?

Speaker 1:

If you're just starting out and you're going to join a team, you don't even need a CRM. You could use their CRM. Or if you are just starting out, you're going to get leads from on market, so you're going to use Zillow or Redfin or something like that. You could even use a Google doc. So if you're to keep it simple the more time and money.

Speaker 1:

If you have more time than money, you're going to be more outbound leads. If you're, which is either getting on a team, making calls for that team or pulling the list yourself and doing it all outbound, so you're going to make more calls and you'll get some people on the phone that want to sell. If you have more money than time, you can either use inbound leads like PPC, ppl, direct mail or text blasting. Then the sellers will reach back out to you and you can talk to them when you get them on the phone, knowing that they already want to sell. So it's less time consuming but it's more expensive. All the options will work and you can be successful with any of those options. All you need to remember is pick one, stay consistent and keep working at it until you're successful. As you have more success, you can increase the amount of money that you have by closing deals and you can start to slowly increase the outbound sources, what lead generation sources you're using, what CRM you're using, and expand and scale from there. So, regardless of what you're going to use, just pick that source, stay on it and be consistent at it and then, once you have success with it, then you can move up and step up.

Speaker 1:

The hardest thing is getting bogged down when you're first starting. If you don't have any money and you don't know where you're going to start, don't worry about the CRM and lists. My recommendation would be to get on a team and just start getting on the phone and talking to sellers. Don't worry about the CRM. Don't worry about pulling your own lists. Own your skills of talking to sellers and get comfortable doing that first with another team that is successful. Within Facebook groups and mentorship programs, there is a ton of people looking for individuals to make calls for them and they'll pay you commission on the deals that you close.

Speaker 1:

And that's what I would do if I was first starting out, rather than thinking about what CRM and what list. Because even if you do have a CRM and you do pull lists, if you can't talk to those sellers and close deals, it doesn't matter what list you pull, you're not going to have any success. You're going to get discouraged and probably give up before you should because you didn't take the time to pick a channel, stay consistent with it, build the right skills to actually close deals and make money that way, rather than just what CRM, what list should I pull? So that's my recommendation if you are first starting out and you have time and no money even if you do have money, I would still go that route and get on a team, work with somebody and just hone the skills and then you can build from there and be successful with a good CRM, with the good lists. So let me know in the comments, reach out what sources you're using.

Speaker 1:

Don't forget to like the video and subscribe to the channel. Also, show me some love. Please follow along. My last video, the Hedgehog Concept, pertains to that. Pick a channel, stick to it. So check that out and appreciate everyone watching and I'll see you on the next video.