Ranking Every Lead Source from F to S Tier

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If you’re new to my channel my name is RJ Bates III. Myself and my partner Cassi DeHaas are the founders of Titanium Investments.

We are nationwide virtual wholesalers and on this channel we share EVERYTHING that we do inside our business. So if you’re looking to close more deals - at higher assignments - anywhere in the country… You’re in the right place.

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Over 10 years in the real estate investing business
Closed deals in all 50 states
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​Closed on over 2,000 properties
​125 contracts in 50 days (all live on YouTube)
​Back to back Closers Olympics Champion
Trained thousands of wholesalers to close more deals

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Transcript

Why A Lead Gen Tier List

SPEAKER_00 0:00

So I've been wholesaling for over a decade now, and I've seen every type of lead generation come down the pipe inside of this industry. And today I'm going to be breaking down those lead generation types into a tier system.

Level F Driving And Bandit Signs

SPEAKER_00 0:14

Starting off with level F, driving for dollars and bandit signs. Now listen, I get the allure behind driving for dollars. It doesn't cost a lot of money, and you're already going to be driving. And you know, you see the house just sitting over there with the tall grass and the boarded up windows. So you write down the address, maybe even throw it in your driving for dollars app, and then you're going to contact that homeowner. The issue is that this is just not very successful. And really, it's not very sustainable. Are you really going to just continue driving all over your city over and over and over again trying to find these houses? It's just not a sustainable lead generation tactic. And honestly, the chances of success are extremely low. Also, at level F, I've got bandit signs. And bandit signs, in reality, are more for generating your buyers than they are generating leads of motivated sellers. More often than not, the people that are going to see those signs and actually write down your phone number and call you is going to be an end buyer saying, Hey man, saw your bandit sign. How many deals you got under contract? You want to add me to your buyer's list? That's what's going to happen. It's very similar to realtors having open houses. They have open houses to generate leads of the neighbors needing to sell their houses. They don't have open houses to sell the house because it just doesn't happen. And realistically, it's the same thing on bandit signs. And also, for the amount of success that you're going to receive, bandit signs are pretty expensive and a lot of labor. You're going to be driving around, finding a place to put them on corners, put them on electric poles, stop signs, and you can get in trouble and you can get them fined. So honestly, driving for dollars and bandit signs are just horrible lead generation tactics.

Level D Cold Calling Reality Check

SPEAKER_00 2:17

Next up, we have the one that every single coach out there wants to teach and says you should do so you can get your reps in. So at level D, we've got cold calling. You know, where you're going to pull the list, you're going to skip trace it, and you're going to call random people that have all these motivating factors like high equity absentee owners or pre-foreclosures. I'm sure you've seen other videos teaching you how to do this. And it's just a kick in the teeth. You're going to call a bunch of cheap people and they're going to ask you, how did you get my phone number? And why would you think I would need to sell? And yeah, I am in pre-foreclosure, but that doesn't mean I need to sell my house for a discount. And so you're getting your reps in by just getting screamed at and yelled at. And listen, I get it. People disagree with this tape. People think that you need the cold call, and it's a great strategy. And I know that there's people out there that are making money doing this, but they normally have a significant amount of cold callers on their staff, whether that's virtual assistants or people that they're using inside of their office, that's their staff that's doing this cold calling. As an individual, it's very, very rare for me to come across someone that says, I am highly successful individually cold calling and finding success. Next up, we have at level C direct

Level C Direct Mail Costs And Timing

SPEAKER_00 3:41

mail. Now, direct mail is successful, but it is costly, and there's times where it can ebb and flow. The majority of the time, you're going to have to send multiple mailers to someone to get them to pick the phone up and call you. In the majority of the United States, you're going to be looking at a response rate of like 1% to your mailers. And so the majority of the money that you're spending is actually just falling on deaf ears. And if you've ever done belly-to-belly appointments, you've probably been in a kitchen or a living room and stared at the kitchen table or a coffee table where there was just stacks and stacks of mailers from all of your competition, just sitting right there. Direct mail can work. And in certain locations of the United States, you can have an astronomical response rate. We actually had this in Hawaii once where 5% of the mailers we sent called us, and it was overwhelming. One of the things most people don't talk about direct mail is staggering when those mailers get dropped off. If they all get dropped off on the same day, your phone will literally melt in your hand and it will cause you to just miss all of the leads that you generate. Next up at level B, we have everybody's favorite PPC.

Level B PPC Works But Adds A Job

SPEAKER_00 5:02

Running your own PBC campaigns, right? And the reason why this is at level B is not because it's not successful, it's because, in reality, as a wholesaler, if you're running your own BBC, this means you now have to be great at running PPC campaigns, managing those PPC campaigns, the budget that comes along with it, then also be great at acquisitions, company and underwriting, dispositions, and transaction coordination. And so it's below the last two strategies because it's adding in an element of something that you have to now master inside of your business. And if someone fills out your form on Google and they don't really want to sell, or maybe they're already listed and they were just feeling out to see what the offer is, guess what? You don't get a refund from Google. That money is spent. Now, inbound leads is always going to be better than anything like cold calling or driving for dollars or bandit signs. But the reality of it is, I don't think many wholesalers have the skill sets to be great at running their own PPC campaigns.

Level A Pay Per Lead Advantage

SPEAKER_00 6:08

And at level A, we have what we use here at Titanium Investments, PPL, pay per lead. Now, this can include PPC campaigns, Facebook ads, TikTok ads, TV, radio, and cold calling, but you're paying per lead. And the reason why I like this is because the majority of PPL providers out there will give you a refund if the seller doesn't want to sell or they don't answer the phone. And no other lead generation tactic out there has that. Also, it eliminates really your need for lead generation. Somebody else who has dedicated their career to being great at lead generation is doing that work for you. And so, because of that, I have now fully adopted PPL inside of our wholesaling operation. We don't do anything else for lead generation. And in fact, our company has not suffered because of this. It's only gotten better and easier for us to close deals because our mind is solely focused on being great at wholesaling, acquisitions, comment and underwriting, finding out where in buyers buy, and we don't even have to worry about lead generation at all.

Level S Referrals And Final Recap

SPEAKER_00 7:19

And at level S, the best lead generation tactic out there is referrals. Now, referrals is difficult to duplicate in masses because you need somebody to go out and do the work for you. But referrals are always going to be the best form of lead that you could ever receive. What I mean by this is it could be maybe it's a family member, maybe it's a previous homeowner that sold you a property and they're telling their brand, hey, I worked with titanium investments, and it was amazing. That kind of referral comes to you, it's already warm, it's already ready to work with you. They trust this other person. So because of that, referrals are always going to be the top dog when it comes to lead generation. So to recap the list, the worst kind of lead generation tactic that you can do is driving for dollars and bandit signs. Cold calling, level D, I get it. Everybody says you have to do it, but I'm here to disagree. You don't. Next up, we have the expensive direct mail. Then we have a level B PBC. Can work if you're an expert at running PPC campaigns. If you're not, well, guess what? You're just signing up for another job inside of your already busy business. And then my personal favorite PBL, level A, and then the best leads that you can ever get referrals. Let me know. Do you guys agree or disagree in the comments? Regardless, show me some love. Like today's video. We'll see you guys tomorrow.