Stop Holding Leads! It's Not Helping!

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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.

Who is Titanium Investments and What Have We Accomplished?

Over 10 years in the real estate investing business
Closed deals in all 50 states
​Owned rentals in 12 states
​Flipped houses in 11 states
​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 Old Leads Kill Growth

SPEAKER_00 0:03

The only way that you get new leads is by killing off the old ones. Wholesalers have a tendency to want to hoard their leads, they want to hold on to them forever because we're told that the gold is in the follow-up. And I'm not saying that follow-up is not important because it is. But when you sit there and you look at your CRM and it is an overwhelming amount of leads, and you don't know where your money is, that is a problem. There are two things that absolutely crush wholesaling businesses: no new leads and too many old leads. Time and time again, I have sat down and looked at wholesale operations. Said, how many leads do you have? Oh, we have 1,500 leads. And they say it with pride, as if like that means they have 1,500 opportunities to make money. But when you sit down and you actually talk to the acquisitions reps inside of that wholesale operation, they're lost. There's too many leads to call, too many drip sequences happening inside of the CRM, and they don't know where the money actually exists inside

The CRM Overload Problem

SPEAKER_00 1:26

of their CRM. And so as the acquisitions reps look at their CRM and their queue of leads every single day, they don't know what the most important phone dials to make are each and every day. And so they just start randomly guessing and choosing and trying to find the lowest hanging fruit. And yet there are leads that are existing inside of that CRM that have gone to statuses that are just existing where leads are going to go to die. And see, the way I view it is I want to be able to look at a smaller queue of leads and know that each and every one of those leads is an opportunity for me to make money. Holding on to a lead for six months when they've told you already that your offer is not acceptable does not mean that that's an opportunity in the future. But yet I get told by newer wholesalers these stories, these one-off scenarios where they've closed the deal from six to nine to ten months of following up. And yes, that does happen. But how much time is wasted inside of that CRM working all of the other leads that are never going to come to fruition? And that is the problem. And then because they're staring as an owner, they're looking at their CRM and they're like, We have 1500, 2000, 3,000 leads. Why would I buy any more new leads? So they pause lead generation, they pause their marketing efforts because they have too many leads to begin with. And there is nothing more demoralizing to an acquisitions person than not receiving fresh meat every single day. Because you're looking at it and you're like, I've already called this person, I've already spoken to them, I've already left them 10 voicemails, I've sent them all the text messages, I've done my job, and yet it's not working. I'm not able to get a contract. But even with a small amount of new leads each and every day, it's a glimmer of hope, an opportunity that didn't exist yesterday for you to get that signed contract.

A Daily Queue That Stays Fresh

SPEAKER_00 3:46

So the way that I manage our leads here at Titanium Investments is whatever goes out, the next day, fresh leads come in in the same amount. And so, in reality, our acquisitions reps are always working to kill leads. To get to that no, I'm not saying blindly just start killing off leads so you can get fresh meat, that would just be wasting money. We still have metrics that we want to hit, depending upon the certain lead types, whether it's nationwide exclusive leads from property leads for $30. Well, yeah, on those we want to close one out of 10. And our acquisitions team knows that. It's their right to kill that so they can get fresh meat the next day, because that fresh lead might instantaneously become a signed contract, and that's what I want my acquisitions reps getting me signed contracts, opportunities for us to monetize inside of our wholesale business. And so we're not hoarding those leads, we are actively seeking the no so we can find the yes inside of our CRM. When I look at my CRM, I'm looking at it and I'm saying each and every one of those leads is an opportunity for us to make money. How do you view your CRM? When you look inside of it, do you feel like each and every one of those is an opportunity for you to make money? Or do you know damn well that you have been hoarding leads to make yourself feel better because you've spent the money on it? But we know that there's a natural attrition rate of leads in a wholesale business, and time kills all deals. We know for a fact that if you're one of the best wholesalers of all time, 90% of your leads, if not more, are not going to be signed contracts. So why are you wasting either your time or your acquisitions manager's time working on leads that are not going to come to fruition and not lead to more money in your bank account? You're literally making them do busy work instead of going out and trying to earn money for your business. So each day, my acquisitions reps have a queue of leads. Whatever that amount is, everybody has a different bandwidth on how many dials they can place a day. So say they can dial 100 times a day. I want them to have 100 leads. There you go. Now you can hit every single one of your leads, the start of the day till the end of the day. If you kill 10 of those, now you're down to 90. 10 fresh leads come in and you're still at 100 the next day. But the morale boost of knowing that you're walking in to 10 new leads as 10 fresh meat instead of the old stagnant leads that have just been sitting there. Yeah, we still have 90 of those that we have to go after, many of which are probably leads that have never answered the phone. We've never even had a conversation. We want to work those, but eventually the acquisitions person has to make that call. You want the player to make the play. So I give them the right to sit there and say, I have contacted this person for 90 straight days and they have not picked up the phone. I'm going to kill this lead because I want to get a fresh one tomorrow to replace this. And if that lead comes back, fantastic. But if not, we're moving on. We're not going to sit there and just hoard our leads for months and months, and some for years.

Cheap Bulk Leads Need Fast Sorting

SPEAKER_00 7:43

And so this has been a hot topic for quite a while inside of Titanium University. And what we've seen is these PBL providers, they offer these large packages. And so people buy these packages, they jam-pack their CRM with all these leads, and very, very quickly they become old stagnant leads because they're not able to place enough dials in a day. And so they stop buying leads because they have so many of these old leads. And then two, three months later, they don't have any close and funding deals coming down the pipeline because all they're currently working on is old leads. Now, I wanted to make this video not because this is the first time I've ever said this. I've said this before, but in the past couple of weeks, we have introduced two new lead sources to you guys: Fizzy leads and Jerry Norton's leads. Okay. Now, these leads are cheap and you're going to be buying them in bulk. And so what happens is they're going to come in and your CRM is going to swell with new leads. Your objective, because these are affordable leads, is to get through them as quickly as you possibly can. Shed the dead leads, the ones where it's like, I don't want to sell. How'd you get my phone number? I've never wanted to sell. Kill those. You are buying highly discounted leads for a reason. The quality is not going to be near as good as property leads or speed to lead or lead zolo. They're much lower quality. So we have to kill these as quickly as possible because if not, you will find yourself months down the road with nothing in the pipeline and a ton of leads in your CRM that you're hoarding away because someone said, Hey, six months from now, I might be motivated enough to sell for a discount. If you spent $1.33 on that, then put them on a long-term drip and move on. Kill that lead. It does not need to be in the queue of leads for you to be focused on and think that money is going to come from that because it's demoralizing. There's nothing worse than just staring at the same addresses and the same phone numbers day in and day out. You need fresh leads every single day. So with these two new lead sources, you have to move quickly and efficiently through them. Kill the no's, find the yeses, and get fresh meat in your CRM as quickly as possible. That is your objective as a wholesale operation. Otherwise, you're going to find yourself in a real bad spot a couple of months

Comments And Quick Wrap Up

SPEAKER_00 10:36

from now. Let me know what you guys think of the comments. Regardless, show me some love. Like today's video. We'll see you guys tomorrow.