real estate wholesaler Archives - REsimpli

Tag: real estate wholesaler

Developing a Brain for Real Estate Success

Posted on by Sharad Mehta

In the realm of real estate, sometimes attitude defines success more than does the condition of the market. Expert real estate consultant and personal development coach Patrick Precourt points out the mental hurdles and behaviors that could either hinder or drive investors.

Many real estate problems begin with fear, usually resulting from uncertainty regarding outcomes. Fearful investors may get frozen and incapable of acting as required. Furthermore, one’s perspective is quite important; if an investor does not really feel they can reach it, their actions and choices would show uncertainty, therefore restricting their possibilities.

A great success depends primarily on consistency. It’s about consistently doing daily chores that are really vital in real estate, not about one-time spectacular success. Building confidence by action is the concept; small, reasonable objectives and their accomplishment generate momentum that could lead to more significant achievements.

Also very important is knowing the fundamental concept of objectives. It is about emotionally connecting with financial independence or more time, not just with aspirations for such things. This emotional link might be the gasoline required to go over obstacles and remain dedicated even when motivation runs low. A positive attitude relies on your honesty about the sacrifices you are ready to make and in your integrity to meet obligations.

Patrick also offers logical mental techniques for conquering challenges. Psychologically, for example, being ready and seeing challenging situations might help one to face them in real life much more easily. It’s about teaching the mind to regulate possible errors before they materialize, therefore lowering anxiety and increasing confidence.

Watch on YouTube:

Key Takeaways:

  1. Rewiring Mindset:

    With over two decades of experience, Patrick dove into the power of mindset for success with electrifying insights! He revealed how fear and limiting belief systems can be the ultimate roadblocks to achieving goals. With his experience in health and fitness, Patrick showed how people often limit their own potential simply by doubting their abilities. The key to breakthrough? New evidence and real experiences to shake up those old beliefs! When Sharad asked how to rewire these beliefs, Patrick shared that while affirmations, reading, and masterminds help, they may not be enough for a true mindset shift in adults. (00:01:00)
  2. Building Belief Step by Step:

    Patrick emphasized the power of belief in achieving goals, sharing Joe’s story of weight loss and running a 5K. He explained that success comes from changing beliefs first, not just focusing on diet or exercise. By breaking goals into smaller, manageable steps, each victory builds confidence and momentum. This step-by-step approach helps rebuild self-trust and solidifies belief in reaching the goal. (00:06:32)
  3. Master The Mundane:

    The discussion highlighted how success stems from focusing on the process rather than fixating on the outcome. Belief in achieving goals grows when small changes become evident, leading to a mindset shift. Successful real estate investors and fitness enthusiasts achieve results by consistently executing daily tasks, like marketing or working out, without obsessing over the end goal. By concentrating on what they can control, the desired results naturally follow. (00:10:00)
  4. Mastery Through Consistency:

    Success comes from being patient with results but relentless in the process. By consistently performing simple, mundane tasks—like daily calls and follow-ups—investors and professionals gain an edge. Mastery, in real estate or martial arts, is achieved through repetition of the basics over time. (00:14:30)
  5. Daily Wins for Long-Term Success:

    The focus was on the importance of daily behaviors over fixating on the end goal. Success is seen as steady, forward progress, with small daily wins increasing the likelihood of future achievements. Tracking habits, like reading and listening to books, helps maintain consistency and leads to long-term success. (00:18:58)
  6. Start Small, Act Now:

    Setting clear, achievable goals and breaking them into manageable steps was emphasized. The focus was on aligning daily behaviors with these goals, starting small and gradually increasing efforts. Motivation should not be a prerequisite; action creates progress. (00:23:49)
  7. Know Your ‘Why’:

    The discussion centered on the challenges of real estate investing and the role of motivation. Understanding one’s ‘why’ and setting meaningful goals are key to success. Emotional energy and perseverance are crucial in overcoming obstacles and staying committed to the path. (00:29:25)
  8. Meaning Fuels Success:

    The conversation highlighted the power of meaning in driving success. Using the example of a father saving his daughter, Patrick illustrated how deep meaning fuels motivation and resilience in the face of challenges. Motivation, he noted, should be reserved for extraordinary moments, not relied on to get started. (00:33:05)
  9. Commitment and Sacrifice:

    The discussion emphasized the role of commitment and sacrifice in achieving goals. True commitment means following through, despite challenges, and making necessary sacrifices. If one isn’t willing to sacrifice, they may not genuinely want the goal, and it’s okay to acknowledge that. Self-awareness and resisting external influence are key. (00:36:48)
  10. Grow Through Failure:

    The discussion highlighted the importance of personal and professional growth through failure, with insights from Patrick’s upcoming book “Fail Forward.” They emphasized pushing beyond comfort zones to avoid stagnation and using mental strategies to overcome challenges. Both agreed that discipline and mental preparation are key to success. (00:42:48)

Strategic Funding for Real Estate Investors Involving Nate Mack

Posted on by Sharad Mehta

Residential lender Nate Mack gave great insights on financing techniques for real estate investors in a recent Mastermind session with Founder & CEO of REsimpli, Sharad Mehta. Expert in managing investors, Nate underlined the need for keeping an eye on the state of the market and optimizing cash flow. Although interest rates are down, Nate urged investors to concentrate on cash flow instead of attempting to precisely time the market as refinancing prospects might materialize shortly.

Nate pointed out the appealing investments in middle-American towns such as Gary, Indiana and Columbus, Ohio, where declining property prices and rising rental demand provide possibilities. He also spoke about the freedom investors have when financing houses—that single-family homes might have as low as 15% while multi-unit complexes need 25%.

By dividing debt with their partner utilizing loan consolidation techniques, investors might avoid the 10 financed properties restriction and open space for more properties. Considering potential increased value, Nate also noted inventive financing options include deferred financing and renovation loans, which allow investors to use home equity to cover both purchase and remodeling expenditures.

Avoiding typical blunders including erroneous reporting of rental revenue, which may restrict an investor’s financing alternatives, depends critically on a qualified contractor, friendly lender, and professional CPA. Nate emphasized at last the need for having a qualified team in place. Combining the appropriate tactics and personnel lets investors navigate the always shifting real estate market and boldly increase their holdings.

Watch on YouTube:

https://youtu.be/GI2ZVC8j3O0

Key Takeaways:

  1. Expert Insights on Real Estate Lending:

    Sharad introduced Nate, an expert residential lender, sharing his gratitude for Nate’s assistance in securing a loan for his own home. Nate reflected on his 5-year journey working with investors and stressed the value of having a team that aligns with the investor’s goals, not just a loan officer. (00:01:00)
  2. Navigating Interest Rates in Real Estate Investing:

    Sharad and Nate tackled the current interest rate environment and its effect on investors. Nate shared that rates are trending downward but cautioned against paying too much to lower rates, as future refinancing opportunities may arise. He noted that a 1% drop is typically a good indicator to refinance. They also explored market trends, highlighting the strength of middle American markets for investors. While Sharad inquired about 30-year fixed loan rates, no specific figures were mentioned. (00:03:27)
  3. Refinancing and Market Opportunities for Investors:

    Nate discussed the current decline in interest rates, advising investors to avoid spending too much on buying down rates, as future refinancing opportunities are likely. He suggested waiting for a 1% drop in rates before refinancing. Nate highlighted middle American markets, like Columbus, Ohio, as strong areas for investment due to lower taxes and growing property values. He also noted that investment property loans come with higher rates compared to primary mortgages. (00:05:00)
  4. Investment Property Requirements and Strategies:

    Nate explained that purchasing investment properties comes with higher interest rates and typically requires a 15% down payment for single-family homes and 25% for multi-unit properties. He also noted strategies like consolidating debts or moving them out of personal names to bypass the 10-financed properties limit. When Sharad asked about avoiding the 20% down payment and property limit, Nate confirmed these are standard but mentioned there are ways to work around them. (00:10:44)
  5. Loan Strategies and Debt Consolidation:

    Nate discussed how investors can handle the 10-loan limit, suggesting strategies like splitting loans between spouses or consolidating smaller loans through refinancing. He also mentioned moving debts out of personal names and into the commercial space, which can free up room for additional conventional loans. This approach helps investors continue expanding their portfolios while managing existing debt. (00:14:00)
  6. Strategic Planning:

    Nate and Sharad stressed the need for a solid investment strategy, including working with a knowledgeable CPA and lender to assess cash flow. They pointed out common mistakes by new investors, like failing to document rental income or claim depreciation. Nate also emphasized how lenders view investment properties as both assets and liabilities. They wrapped up by discussing potential benefits from programs and incentives available in specific cities and states. (00:16:21)
  7. Boosting Cash Flow and Using Incentives:

    Nate emphasized documenting rental income accurately and claiming depreciation to maximize cash flow for future investments. He also mentioned underused city and state programs offering incentives, particularly in areas like Indiana, that can help investors finance properties more creatively. (00:20:00)
  8. Lender Strategies and Asset Protection:

    Nate and Sharad discussed lender incentives for low-income areas, like closing cost discounts. Nate recommended using a trust for asset protection instead of an LLC. They also covered transferring property titles post-closing, which doesn’t typically cause issues if debts are paid. Lastly, Nate explained that buying properties with existing financing or assuming loans is possible if lender guidelines are followed. (00:23:47)
  9. Market Growth and Property Valuation:

    Sharad and Nate discussed rising property values in Midwest markets, especially Gary, Indiana. Nate explained that appraisers focus on recent purchases and renovations when assessing values, with some flexibility in their evaluations. They also explored how this market growth influences investor activity. (00:29:58)
  10. First-Time Investor Tips and Loan Options:

    Sharad and Nate discussed buying multi-unit properties with FHA loans, living in one unit, and renting the others. Nate also covered cash-out refinance rules, delayed financing, and renovation loans. Sharad expressed interest, and Nate shared his contact for more details. (00:33:46)

Scaling Your Real Estate Business: Insights from the REsimpli Mastermind with Ian Horowitz and Sharad Mehta

Posted on by Sharad Mehta

Sharad Mehta welcomes former firefighter turned real estate investor Ian Horowitz for this REsimpli Mastermind episode. Ian recounts his story of managing a $70 million portfolio of self-storage and varied real estate from purchasing a $25,000 house in 2012.

Starting with single-family houses, Ian stresses the need to learn basic skills before entering the commercial real estate market. Fortune favours not only the brave but also those who work hard and arrive ready. Based on experience, he counsels readers on their own degree of preparedness as well as on little gestures.

Emphasizing openness and clear expectations for equity investors, the conversation also examines the variations between debt and equity investments.  The useful ability to observe little details and keenly notice changes can go a long way in this business. Clarity is power, because it helps save time by avoiding miscommunications and conflicts.

The discussion also covers how political circumstances and municipal rules affect property investments; as self-storage facilities provide greater operational freedom than residential buildings. Ian considers his 12-year route and wonders whether early engagement with commercial banking and real estate might have hastened his development.

The program ends with an offer to network with colleagues from the real estate sector, therefore underlining the need for cooperation in this sector.

For real estate investors striving to grow their company and change their strategy, this episode offers a lot of smart advise. Discover the complete podcast to learn and interact with the most recent breakthroughs in real estate management with fresh ideas from REsimpli!

Ready for expansion of your company on real estate? Acquire these techniques and begin immediately to change your business!

Key Takeaways:

  1. Start of Something Great:

    Ian describes a tough time with overtime and company closures, prompting him to seek financial security through real estate. His first purchase was a $25,000 house, with $25,000 to $35,000 in improvements. It generated $1,250 in Section 8 rent and $600 monthly cash flow. This success hooked him, and now he owns and operates nearly $70 million in real estate nationwide.(00:03:57)
  2. Big Deals, Less Efforts:

    Ian explains that he prefers fewer but, larger deals now. Previously, he did 30 to 40 deals a year, flipping or adding houses to his rental portfolio. This year, doing five deals would be significant. He mentions closing a million-dollar deal quickly and working on a $13 million deal projected to be worth $20 million. This approach allows for a more methodical and less rushed process.(00:06:10)
  3. Do What Makes You Happy:

    He acknowledges that many people get discouraged because they’re not yet where they want to be in their real estate journey. He advises focusing on the present and making the best of current opportunities, aiming to reach desired goals in a few years. Ian highlights that different people have different aspirations; some may start with one flip a year and scale up, while others might aim for commercial deals. The key is to pursue what makes you happy. (00:11:54)
  4. Success Factor:

    Ian reflects on the fear and risk involved when first entering real estate, emphasizing that growth requires taking risks and getting uncomfortable. He notes that people often get too comfortable, but advancing from single-family to commercial real estate required him to rebuild the underwriting process and learn to communicate with banks. He highlights that success in real estate isn’t about the properties themselves but the willingness to push beyond comfort zones to achieve the next level. (00:20:18)
  5. What It’s Like Being An Equity Investor:

    Ian discusses the importance of setting transparent expectations when raising capital. Using the movie “The Big Short” as an analogy, he illustrates how equity investors are in it for the long haul, experiencing ups and downs. He emphasizes that success relies on the ability to navigate challenges, making sure they understand it will be a wild, bumpy ride, but they are along for the journey. (00:23:31)
  6. Difference In Transaction Cost:

    Ian explains the differences in eviction timelines across various states. In Mississippi, Louisiana, and Texas, he can evict tenants within 30 days if rent is unpaid. However, in Arkansas, the process takes 75 days, which he finds lengthy. He contrasts this with even longer timelines in states like Illinois and California, highlighting the varying challenges landlords face depending on the state. (00:31:28)
  7. Eviction Timelines: Comparing States:

    Ian advises identifying states that are easier to operate in based on property taxes, transfer and recordation taxes, and whether they are pro-tenant or pro-landlord. He highlights Louisiana as an example, describing it as a blue state with favorable tenant laws. He shares an experience where, after filing an eviction on a Thursday for a special needs tenant, he had a court date the following Wednesday and the sheriff was involved by Friday, completing the process in just eight days.(00:15:43)
  8. Lead Communication Order:

    Ian explains that commercial real estate offers more opportunities to create and scale a true company. He notes that unlike some investments, you don’t always see the inner workings or need to broadcast every deal.(00:43:00)
  9. Investment Sizes and Accreditation Requirements:

    Their average investment size is around $50,000, but they accept amounts as small as $10,000 and as large as investors wish to contribute. For non-accredited investors, a pre-existing relationship must be established before proceeding, highlighting the need for ongoing interactions rather than a one-time meeting. (00:44:20)
  10. No Hesitation:

    Previously, he lacked the maturity to enter commercial real estate sooner, regretting his eight-year delay. Fear of financing held him back despite opportunities. He now wishes he had trusted their capabilities earlier but remains optimistic about making up for lost time. The host commends Ian for his openness and approachability in sharing his business experiences. (00:19:24)

The Art of Cold Calling: How Ty Franklin Closed 78 Deals Over the Phone

Posted on by Sharad Mehta

REsimpli CEO and founder Sharad Mehta hosted real estate investor Ty Franklin in the REsimpli Mastermind. Ty is doing rather well approaching complete strangers.

If Ty wants outstanding leads converted into sales, he first contacts a reputed virtual assistant. Ty moves fast from wholesale to full-time real estate investor. His artificial intelligence analyzes 17,000 phones calls daily for possible buyers with property criteria. His method greatly facilitates lead development and certification procedure. His concentration on property prices and market movements sharpens knowledge and preparedness.  Ty looks at consistency, follow-up, and leadership.

Ty additionally includes virtual assistant management training, targets, and standards. Many times, potential real estate buyers seek him advice on rapid cold contacting using technology. He chooses nice properties to boost sales for certain vendors. Depending on Ty’s example quality over quantity rule, every cold call should have suitable objectives, training, tool and website automation of tasks based on Ty’s example, thereby improving virtual worker productivity.

While cold calling is challenging, Ty’s success points to possibilities based on carefully considered ideas. Including his concepts into your real estate company can assist to raise closure rates and investment returns.

With this extended interview or transcript, one may better grasp Ty and his style.

Key Takeaways:

1. Cold Calling Insights:

Sharad, founder of a property management and investment company, learns about Ty’s successful cold calling strategies, which have led to over 78 closed deals. Ty emphasizes the importance of investing in cold calling software and acquiring more data to enhance the process. (00:02:47)

2. Success in Cold Calling:

Ty’s core caller in the Philippines earns $7 per hour plus $300 per closed deal. Ty plans to train her for more tasks while he handles follow-ups. Ty also shared his data retrieval process, getting information directly from the city or county. (00:06:07)

3. Managing Cold Callers and Lead Startegies:

Ty focuses on qualified leads and contacts, not call volume. He holds bi-weekly meetings with his cold caller, to review scripts and leads. Qualified leads are sent via Discord, and Ty contacts them within 1 minute, ensuring efficiency. (00:12:34)

4. Lead Qualification Tips:

Ty and Sharad agreed that serious leads often respond if the price is 10% below the Zillow estimate. Ty offers more for properties in disrepair to lower prices. Sharad suggested new callers work 2-3 hours daily, noting that Saturday calls can be valuable. (00:19:55)

5. Lead Follow-Up Strategies:

Ty pulls and prioritizes pre-foreclosure and probate lists daily, updating other lists quarterly. He follows up immediately on leads and plans to add SMS marketing. Ty’s strategy includes recycling data and multiple calls per lead, with numbers sourced from a skip tracing service. (00:29:33)

6. Lead Generation Tactics:

Ty maintains strict qualifications for serious leads and tailors campaigns by list. He recycles unresponsive leads and uses aggressive follow-up calls and texts. Sharad and Ty discussed voicemail usage and setting rules for follow-up calls. (00:35:47)

7. Investing, VAs, Rehab:

Sharad and Ty discussed best practices for estimating rehab costs and managing VAs. Ty emphasized investing in software, regular VA communication, and a strong mindset for cold call rejections. Sharad agreed, suggesting hiring a VA after a few deals instead of spending earnings. They concluded by discussing Ty’s dialer tool. (00:44:29)

8. Effective Cold Calling Strategies and Systems:

Ty provided tips on cold calling, emphasizing using multiple numbers, limiting daily calls, and adding fresh data. He highlighted understanding tools, training VAs to handle objections, and implementing an IVR system. Sharad encouraged consistency and the importance of systems and processes. Ty also shared he hasn’t been sued for cold calling. (00:52:14)

9. Marketing:

Ty often requests property pictures from sellers but prefers visiting in person. He advised new investors to target absentee owners with two or fewer properties, at least 60% equity, and 7+ years of ownership. (00:25:04)

10. Monitoring and Motivation:

Ty Franklin ensures his VA stays productive and motivated by holding bi-weekly meetings to review call performance, critique scripts, and identify missed opportunities. By monitoring key performance indicators, such as daily contact rates, he maintains efficiency and addresses issues like time theft, ultimately enhancing the effectiveness of their cold calling efforts. (00:13:07)

Top 5 Tips for Building Your Real Estate Wholesaling Business

Posted on by Sharad Mehta

If you’re looking to take your real estate wholesaling business to the next level, then you’ll need to use the right tools. In this blog, we’ll discuss the top 5 ways to grow your real estate investing business.

The best-performing real estate asset classes right now are single-family rentals (SFRs) and multifamily buildings, both of which have drawn billions of dollars in investment capital from family offices, institutions, and individual private investors.

This article will examine 5 tips for building your real estate wholesaling business, curated by our team based on things they wished they knew when they started wholesaling real estate to begin with. These include how to identify deals, assess potential returns, handle money wisely to optimize earnings, and how to break into the real estate industry with marketing.

analytics page showing lead data and charts

Use a CRM system.

Tech solutions can assist real estate investors in taking advantage of listings before other buyers in the face of a strong demand for rental property. A CRM system will help you keep track of your leads, prospects, and customers. It will also help you stay organized and efficient in your real estate wholesaling business.

While it might seem like a hassle to integrate a CRM system with the handful of leads you’ve already picked up, it’s important to think forward–how much more of a burden will it be to transition when your company grows over the next several months? Moreover, how many leads are passing you by while you’re limited to your current lead generation venues?

By utilising the appropriate software, investors may boost their productivity and, in the long run, generate larger returns. It might also significantly alter how your business grows, setting the foundation for your company to flourish and grow.

Many real estate wholesalers use a pre-fab CRM not specific to real estate, like Salesforce, Zoho, or Hubspot. While these are fantastic solutions to automate the sales journey, store and sort information, as well as analyze data sets, we will go into detail about real estate specific CRMs.

Property M.O.B. offers pre-trained Virtual Assistants to help organize, automate, and scale your Real Estate Wholesaling business.

diagram of the benefits of a CRM with a laptop in the middle

Use specific real estate wholesaling or real estate investing software.

Real estate investing software can automate many of the tasks associated with real estate wholesaling, such as lead management, contract management, and deal analysis.

CRMs as mentioned above do have more capabilities than your old paper-and-pencil methods or complicated Excel spreadsheets, but success in our digital age depends entirely on choosing the appropriate tools for the job.

Leveraging the advantages of technological instruments simplifies real estate wholesaling. Real estate investment software can be quite useful for managing rental properties, researching potential deals, and forecasting remodeling tools.

For those that specialize in a particular specialty, such as house flipping, wholesale real estate, rental properties, and commercial properties, there are numerous real estate software solutions available. While real estate investing and wholesaling real estate are similar in nature, it’s important to note these differences when shopping for a CRM for your specific real estate needs.

The real estate industry reached an all time high since 2007 this past winter, with residential properties having a revenue share of 35% in the United States alone. As such, the real estate market has been saturated with newfangled technology to aid real estate investors in their business ventures.

Among the top-ranked real estate wholesaling software includes REsimpli, our intuitive real estate CRM built specifically for real estate wholesaling.

REsimpli app shown on different mobile devices
REsimpli boasts a customizable user interface that’s ready to go in a minute or less, with comprehensive features and app functionality including driving for dollars, list stacking, and several internal API integrations including Zapier, Podio, and more.

Use a real estate investor website.

A real estate investor website can help you find motivated sellers and market your properties to a wider audience. Statistically, real estate investor websites help close more deals by tracking and anticipating the customer journey.

While other forms of marketing and outreach can help broaden your brand awareness, the best way to draw in target leads and turn them into converted customers is to utilize a specific website for your real estate wholesaling business.

Integrated tools for real estate wholesaling both boost productivity and include unlimited follow-up with autoresponders and automated reminders. From there, you can select from a variety of simple plug-ins for your real estate wholesaling business model, whether that’s buying and selling homes, wholesale buying and selling, home flipping, commercial real estate, etc.

You’ll find there are a variety of adaptable, scalable, and mobile-responsive designs built to convert leads, oftentimes available as an addition to your current real estate investment CRM.

REsimpli includes many of these features, as well as a designated landing page for your business. This is all included in your monthly subscription, effectively replacing over 7 tools for less than the price of one.

Use direct mail marketing.

Direct mail marketing (also known as direct marketing) can be an effective way to reach motivated sellers and generate leads for your real estate wholesaling business. Direct mail in regards to real estate investing essentially means just that–directly mailing homeowners from specific lists of motivated sellers with investment properties or distressed properties.

While direct mail is one of the most effective marketing types for wholesaling real estate, it can often be costly and time consuming. From buying individual postcards, to curating lists, to designing and proofing as well as printing, buying direct mail postcards even from discount printers still ends up costly if leads are not converted.

It makes much more sense, fiscally and organizationally, to find a product that can handle your specific direct mail needs while curating your marketing lists.

REsimpli’s direct mail feature includes very competitive pricing, no minimum quantity, prefabricated lists, as well as a variety of easy to use templates.

Use online marketing.

Online marketing can be a cost-effective way to reach motivated sellers and generate leads for your real estate wholesaling business. Wholesaling real estate companies that use digital marketing might see significant returns on their investments, moreso than other marketing venues.

For real estate investors seeking to buy houses and find motivated sellers, REsimpli provides examples of tailored digital marketing campaigns and methods. Among the most popular methods of online marketing include pay-per-click (PPC), display advertising, paid social media or influencer marketing, as well as search engine optimization.

Marketing specialists are available for hire on websites like UpWork and Fiverr, but the best way to get going? Just start! Having information on the internet about your real estate investments means sellers will be able to find you more easily.

Our advice is to start whatever way you can, either on Twitter, Facebook, or other social media, or by writing a blog similar to this with your thoughts and findings on the industry, your business, and wholesaling real estate in general.

digital marketing diagram
If you want to learn more about how to grow your real estate wholesale business, and get tips from other real estate investors in our online community? Join our FREE Mastermind for Real Estate Wholesalers.

What is List Stacking in Real Estate Wholesaling?

Posted on by Sharad Mehta

List Stacking in Real Estate Investing

In the real estate world, buzzwords come and go just as often as industry trends. Like everything else, some come and go, and some are here to stay. List stacking is one of those trends with inevitable staying power.

List stacking is one of the newest industry trends, with high promises of generating leads and connecting wholesalers with highly motivated sellers.

Are you curious as to what list stacking is and how it’s applied by real estate investors to locate and target highly motivated sellers? What about real estate CRM software, and how do the two work together?

In this blog, we’ll define real estate wholesaling, list stacking, and various list sources, as well as take a deep dive into the pros and cons of each method and how you can best choose your real estate software and list stacking software to track and optimize these leads.

What is real estate wholesaling?

Real estate wholesaling is the process of finding deeply discounted properties and assigning them to another buyer for a higher price. Real estate wholesalers make money by pocketing the difference between what they paid for the property and what they sold it for.

Each method has its own set of benefits that can be helpful to you and your business. Real estate investing can be a great way to find deeply discounted properties.

Generating leads comes with a combination of inbound and outbound marketing tactics, including paid ads, social media, cold calling and emails, search engine optimization, and online networking. Of the more hands-on approaches, list stacking and driving for dollars have become very popular choices.

List stacking can help you focus your efforts on a specific list of properties, and driving for dollars can help you find properties that are vacant or in disrepair.

Pro Investor Tips: Combine multiple lists to create a more targeted list of motivated sellers.

What is list stacking?

List stacking is a technique used in real estate wholesaling that involves compiling a list of potential properties for wholesale. This can be done by driving for dollars, searching online listings, or working together with a real estate agent, most often in tandem with one another.

One of the benefits of list stacking is that it allows you to quickly and easily identify potential properties for investment, saving you both time and money. Additionally, it provides you with a valuable database of potential leads that you can use again in the future, cross-reference, and use to curate valuable information about specific neighborhoods and demographic lists.

Many real estate investors use list stacking software, which often comes as part of their real estate CRM.

Where do I buy these lists?

In order to list stack, you need to have multiple lists available first. There are many different methods that real estate investors use to acquire lists, from old-fashioned banging on doors to data mining or even purchasing their lists from outside sources.

We’ve listed several of the most popular methods for acquiring your lists to start building out your database:

  • Driving for Dollars

Driving for dollars (drive for dollars, or D4$) is another method real estate wholesalers use to find leads. This involves driving around potential neighborhoods looking for vacant or in disrepair properties. These properties may be good candidates for real estate wholesaling and help real estate investors focus their efforts on a specific list of properties.

  • ListSource

ListSource is another company REsimpli offers full integration with. As active real estate investors and wholesalers, ListSource is an invaluable resource for building local and national lists based on various filtering options.

ListSource caters directly to wholesalers, investors, and brokers, ensuring their lists come with motivated sellers and high-quality leads. These lists can be directly imported to REsimpli or your CRM of choice and cross-referenced further using list stacking functions.

  • PropStream

PropStream is another tool that is ubiquitous throughout the real estate investment industry. At REsimpli, we work with and offer integrations with PropStream in order to make your list stacking and segmenting as pain-free as possible.

PropStream provides one of the most efficient list management and list stacking technologies available to real estate brokers, investors, and agents. Using their software, you can quickly create bespoke reports using their many filter options to find possible sellers immediately. For the purpose of building a targeted directory of the most likely sellers, the list stacking feature aids in your understanding of which properties are duplicated across multiple lists.

  • County records

Public records are a great way to start your lists. These don’t come with the same vetting and filtering options as PropStream or ListSource, but they are a perfect launchpad for new real estate investors who need a starting point. Most of the time, these are acquired for free online either through the County Recorder’s Office or County Treasurer, but some real estate investors have had great success in reaching out to county tax assessors, or city and county inspectors for multiple code violators or other red flags.

County records provide lists based on various criteria, most of which include bank-owned properties, bankruptcies, delinquent taxes, liens, foreclosures, tax sale properties, and more.

What are the top real estate wholesaling lists to buy?

Pre-qualified or high-quality lead lists will most likely give you a higher ROI. There are many things to consider when list building, including how worthwhile it is to buy lists (like those on ListSource) as opposed to doing more legwork and acquiring free ones (like county records or driving for dollars), but ultimately there are a few specific criteria to look out for.

Probate lists are the most popular, given the homes are vacant without much legal implication, as probate essentially means the homeowner died without a will bequeathing the house or leaving a will. Niche lists like these, shutoff lists, divorce lists, eviction lists, etc., often return a 20-30% close rate.

List stacking with pre-foreclosure properties

Another type of property rising in popularity within real estate investment is pre-foreclosures. These lists are becoming more and more populated during and after COVID as the rates of pre-foreclosure are high.

The property type gaining the most popularity since 2021 is absentee-owned or absentee-owner properties. The most important part to take note of in absentee owner deals is to ensure the owner does own substantial equity in the property.

Oftentimes, absentee owner properties are owned by multiple owners or are tied up with current renters. Establishing that the owner is motivated and there won’t be complications with a third-party management company is essential.

list stacking info shown in the leads pages

What criteria should I consider when stacking my lists?

Starting out, based on their previous sources, a real estate investor might pull multiple lists from their current software or database. Organizing these based on specific criteria is the best option for amalgamating your data and “stacking” them to target them directly. Most often, these groups look something like this:

  • Vacant
  • Tax Delinquent
  • Inherited Property
  • Code Violations

Where does list stacking come in? Once these lists are all curated, you’d further categorize them to send your marketing (whether that’s email or direct mail), and instead of sending out four or more campaigns with different messaging, marketing campaigns can then be tailored to groups who fit multiple criteria, such as:

  • Absentee & Vacant
  • Absentee & Tax Delinquent
  • Absentee & Vacant & Tax Delinquent & Inherited Property

This is one way to cut your leads in half, and you will certainly see a decline in the amount of records you pull, but list stacking also saves you money by helping you seek our more motivated sellers.

Similar to any kind of demographic targeting, it’s easy enough to get granular or broad with your targeting. For example, our CEO, Sharad Mehta, uses definitions similar to the below to get specific with his targeting:

Absentee: The property is uninhabited

High Equity: Owners with more than 50% equity

Vacant: The owner nor any tenant or family lives at the property

Inherited: The owner inherited the property recently

Tax Delinquent: The property is behind on taxes or mortgage payments, sometimes an indication that the new owner might feel burdened by the inheritance.

Single Family: Only one family resides, or can legally reside, at the property

What software do I use to stack my lists?

So you have your lists–how do you compile them? While REsimpli offers one-click, intuitive list-building and segmenting options, many CRMS offer similar features at a smaller scale. When starting out with smaller lists, it’s often feasible to stack lists on Excel or Google Sheets as well.

  • List Stacking with REsimpli

REsimpli offers many integrations, as noted above, with software like Propstream and ListSource, as well as a one-click import for other Excel or spreadsheet files. You can quickly and comprehensively tag and sort your leads en masse or individually and, from there, set up your direct mail or other marketing campaigns right in our CRM.

For more information on how you can use the REsimpli list stacking function to close more deals faster, you can watch a free full demo on YouTube demo.

  • Excel, Numbers, or Google Sheets

Spreadsheets work best on a very tight budget and if you only have a handful of properties to work from. They are notoriously hard to scale but very easy to customize.

Using conditional formatting and formulas, you can remove duplicates and sort data based on specific criteria relatively easily; however, it’s important to note that spreadsheets require a lot of manual input before they are able to be sorted and formatted properly.

How do I choose a real estate CRM for list stacking?

Choosing a real estate customer relationship management system (CRM) is an important decision for any real estate wholesaler or business. A real estate CRM will help you track your leads, prospects, and clients. It is important to choose a real estate CRM that fits your specific business needs.

There are many different real estate CRMs on the market, so it is important to do your research before choosing one. You may want to consider features such as lead management, contact management, and automation.

More recently, CRMs have been incorporating more up-to-date features such as driving for dollars and list stacking.

If you’re interested (or already participating) in real estate wholesaling, learning how to stack lists is a valuable skill to have.

The best software for list stacking

REsimpli’s software was built for real estate wholesalers by real estate wholesalers, helping save you time and close deals faster. Aside from driving for dollars and list stacking functionality, our CRM software for real estate investors also include:

  • Skip Tracing
  • Direct Mail
  • Vacancy & Absentee Checks
  • Filters for Target Marketing
  • Zapier, BatchDialer & Other Integrations

Interested? Contact us for the full rundown on all our features, access to our exclusive coaching calls and sales groups, and a 14-day free trial.

How To Make Sure You Never Let A Lead Fall Through The Cracks

Posted on by Sharad Mehta

How To Make Sure You Never Let A Lead Fall Through The Cracks

Sharad Mehta, owner and CEO of REsimpli, summarizes the way his company works with REsimpli to optimize lead scoring, tracking, and follow through.

preloaded functions

Using the preloaded functions on REsimpli, you are able to see a high-level overview of your tasks due, open leads, and your internal inbox. The best way to make sure you don’t lose out on real estate wholesale leads? At the end of the day, ensure all these fields are as close to 0 as possible. Actionable items need to be dealt with and delegated ASAP, and hot leads can’t be waited on so they fizzle out.

real estate tasks

Tasks Due: Tasks assigned to you within REsimpli show up under this module. This is easy to toggle through depending on team member and task type, as well as due date. The best way to ensure all tasks are done is to delegate them if they aren’t feasible, or to adjust the due dates to best reflect bandwidth. Minor house-keeping, including fixing due dates or marking tasks as “completed” are necessary to ensure proper workflow and to follow up and optimize leads.

open leads information

Open Leads: Open Leads are any new marketing or self-sourced leads that have been imported into REsimpli. These are automatically categorized based on several customizable fields, including unqualified, uncontacted, and dead leads. The only leads that will show up as Open Leads on this dashboard are those that are newly imported and uncontacted (No Contact Made), leads that have contacted you and are awaiting a response (Contact Made), or even dead leads that have recently contacted you as well (Dead Leads). Leads that have unfinished appointments (Appointments Set) or those that are with an agent (Referred to Agent) also show up on this dashboard. These can be cleared by archiving those that require no more attention, delegating them to whomever they are referred to, or actioning those leads and contacting them appropriately. Once leads are contacted through REsimpli, they are automatically unmarked as an open lead–it’s only when action is taken externally that they need to be manually archived or changed.

internal inbox

Internal Inbox: The Internal Inbox is the communication between team members regarding tasks and deliverables. These are resolved by simply clicking on the option or replying to the message. All teams use this function differently, but this is often where team members go for second opinions, so the importance of having this as a 0 on your dashboard means you’re not bottle necking any deals or disrupting workflow. The best way to optimize leads is to ensure your team communication is as transparent as possible.

New Features

There are several product features for this dashboard in the pipeline–specifically, filter for preset or custom time period. This information is accessible by clicking on each module as they are, but ultimately this filter will streamline that process and increase your real estate wholesale profitability and accountability.

Watch the entire video below, or on YouTube, for more tips and tricks as well as a Q&A from new and old REsimpli users alike. Better yet, join our Mastermind for Real Estate Wholesalers Facebook group.

About the Author

Sharad Mehta is the owner and CEO of REsimpli. As an active investor in northwest Indiana, Sharad mostly deals in fix-and-flip to retail buyers or rental and property management. REsimpli’s conception came from the lack of inclusive, comprehensive software for tracking the many needs of real estate wholesale. He set out to develop a CRM to manage all his properties and his business. REsimpli’s intuitive, click-and-go CRM makes all your bases are covered, from list stacking, direct mail, cold calling, and more. It also includes functionality PPC tracking, direct mail, SMS, and other external advertising.