What is everyone’s average leads to deals? Either sub2 or a good L/O. I’ve gotten a lot of good leads, some to wholesale but nothing I have been willing or able to Sub2. Also what is everyones minimum of profit expected for a sub2. Thanks guys.
What’s your definition of a ‘lead’? I get about 1 appointment for every 50 emails sent to FSBOs → 1 house under contract for every 2-3 appointments → 1 completed deal for every 2 contracts.
Average house price here is $300,000 and I’m looking to make at least 10% of that.
Lead = anyone who called me/submitted an online lead. Avg home price is 185k looking to make 25k per deal. Found some good ones but I don’t think there motivation is there YET. I think I can close some of these later. I threw a couple out because of $ in. (repairs mostly) What’s the average you spend in these deals? I need to up this closing percentage big time. I’m still getting familiarized with this market (new to the area) so I’m being a little cautious. Just unsure what these homes will fetch with a L/O.
A few of my rules:
- No distressed sellers.
- No repairs (house must be in perfect move-in condition).
- No more than 1 month’s rent down.
I like to be able to provide premium homes where my T/Bs say things like: “I can’t believe this is a rent to own!!!” And I don’t want anything getting in the way of me filling the property in a week or 2. So it’s all gorgeous houses in great neighborhoods for me. Every time I’ve broken those rules I’ve regretted it :banghead
Hi,
My target houses sell for $150-170K.
Approximately 20-40 inbox leads equals 10 leads worth calling about and
from that 2 houses for me to either buy or wholesale.
The profit I’m looking for is $10-30K per deal. This depends a great deal
on if the neighborhood is desirable or not to the majority of buyers.
My business model is as follows:
I sell via a flat fee broker to get access to the MLS. I offer buyer agents 3-4%
commision if the neighborhood is hot, but if I anticipate a neighborhood moving
slowly I’ll offer them a full 6-7% commision. With a $12,000.00 possible commision
awaiting them, I get a flood of calls for permission to enter the residence,
and an offer within a few days of being on the market (2-4 days max).
This model ends up taking a huge portion of my profits but experience has taught
me that waiting for “MY PRICE” can bleed me out thousands over several
months in mortgage payments, insurance, utilities, etc.
Doug,
When you say that you e-mail FSBO’s, where are you finding their e-mail addresses?
Dave
fsbo emails coming from Craigslist, forsalebyowner.com, miliarybyowner.com take a pic there’s a ton more…