Are you struggling to close more deals in your wholesaling business? Many of the problems you face are surface-level issues that mask deeper constraints. In this comprehensive guide, I’ll share 22 proven strategies to help you secure 10 or more deals a month. These insights are based on years of experience and data from clients who have achieved significant success.

Let’s dive into the techniques that can transform your wholesaling business.

Strategy #1: Identifying Real Constraints

Most problems you encounter are only symptoms of deeper issues. To uncover the real constraints in your business, you need to dig deeper. One effective method is to ask yourself "why" multiple times for every problem you face. This technique helps you drill down to the root cause of the issue.

1. Ask "Why" Repeatedly: Start with the surface issue and keep asking why it exists. For instance, if you have a lead problem, don't stop at the obvious answer. Ask why you have a lead problem. If the answer is that your lead generation company is providing bad leads, ask why that is happening. Maybe it's because the leads are coming from cold calling. Then ask why cold calling is producing bad leads. Perhaps it's due to the quality of the lists being used. Continue this process until you reach the core issue, such as improper training or inadequate onboarding of your team members.
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2. Identify Core Issues: By repeatedly asking why, you can identify the underlying problems that need to be addressed. This approach, which I learned from my engineering background, has been instrumental in helping me build successful businesses. Once you identify the real constraints, you can implement effective solutions to overcome them.
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3. Implement Solutions: After identifying the root cause, you can take specific actions to address it. For example, if the problem is poor lead quality due to inadequate training, you can invest in better training programs for your team.

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By understanding and addressing the real constraints, you can improve your business operations and increase your deal flow.

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Strategy #2: Generating Leads from Other States

Don’t overlook leads from other states just because they are outside your immediate market. These leads can be incredibly valuable if handled correctly. One of the biggest mistakes wholesalers make is ignoring out-of-state leads due to perceived logistical challenges. However, there are resourceful ways to monetize these opportunities.

1. Form JV Agreements: Forming joint venture (JV) agreements with local wholesalers in other states is an effective strategy. For example, if you receive a lead from a state where you don’t operate, find a trusted wholesaler or investor in that state and form a JV agreement. This way, both parties can benefit from the deal. One of our clients closed a $335,000 deal through a JV with an out-of-state investor. The client received the lead through digital marketing and partnered with a local wholesaler to close the deal.
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2. Engage with Sellers: If a motivated seller contacts you about a property in another state, don’t dismiss them. Engage with them and find out if they have other properties in your target area. Building relationships with sellers can lead to referrals and additional deals. Remember, real estate is a relationship-based business, not just a transactional one. Always seek ways to add value and create win-win situations.
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3. Utilize Technology: Use technology to manage out-of-state deals efficiently. Virtual tours, digital contracts, and online marketing tools can help you handle these leads without needing to be physically present.

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By being resourceful and forming strategic partnerships, you can turn out-of-state leads into profitable deals.

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Strategy #3: Working with MLS Leads

Leads listed on the MLS are often overlooked by wholesalers because they assume these leads are less valuable. This is a significant mistake. MLS leads can provide excellent opportunities if you approach them with the right mindset.

1. Always Call the Lead: First, always call the lead, regardless of whether it's listed on the MLS. Sellers might be working with real estate agents who aren’t performing to their expectations. These sellers could be highly motivated to find an alternative solution. For example, one of our clients, Colin, made $50,000 by building a relationship with a seller whose property was listed on the MLS. The seller was frustrated with their agent’s inability to sell the property. Colin’s timely follow-up and relationship-building skills turned a seemingly unviable lead into a profitable deal.
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2. Understand Their Pain Points: When you contact MLS leads, your goal should be to understand their pain points and offer a solution. Even if the property is currently listed, maintain contact with the seller. Real estate agents sometimes fail to close deals, and when the listing expires, you’ll be in a prime position to step in and offer your services. Always nurture these leads and follow up regularly.
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3. Provide Value: Offer to help the seller understand why their property hasn’t sold and what you can do differently. By providing value and showing genuine interest in helping them, you can build trust and increase your chances of closing the deal.

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Approaching MLS leads with a proactive and value-driven mindset can uncover hidden opportunities and lead to profitable transactions.

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Strategy #4: Handling Rural Leads with No Buyers

Rural leads can be challenging due to a lack of buyers in those areas. However, these leads shouldn’t be disregarded. With the right approach, rural leads can become profitable deals. The key is to leverage technology and expand your buyer network.

1. Use Platforms like InvestorLift: One effective tool is InvestorLift, a platform that helps you find buyers in any location, including rural areas. By using InvestorLift, you can access a network of investors who might be interested in properties outside your usual market.
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2. Leverage Networks: Reach out to real estate professionals like Nick Perry, who specialize in rural markets, can provide valuable insights and connections. Being resourceful and having the right mindset is crucial when dealing with rural leads. Remember, there are always investors looking for properties, even in less populated areas.
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3. Expand Your Network: Use online forums, real estate groups, and social media to connect with potential buyers and investors interested in rural properties. By expanding your network, you increase your chances of finding buyers for rural properties and closing deals that others might overlook.

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One of our clients managed to close several deals in rural areas by tapping into these resources, demonstrating that no market is too remote if you know how to approach it.

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Strategy #5: Reframing Conversations with Leads

When leads immediately ask for an offer, it’s essential to reframe the conversation to gather more information and build trust. Directly jumping to a price can often lead to missed opportunities. Instead, guide the conversation to understand the lead’s situation better.

1. Shift the Focus: For example, when a lead asks for a price upfront, you can respond by saying, “I understand you’re interested in knowing the price. However, we don’t offer cookie-cutter solutions. To give you the best possible offer, I need to ask you a few questions about your property and your situation.” This approach shifts the focus from the price to the lead’s needs and helps you gather crucial information.
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2. Build Rapport: Reframing the conversation allows you to build rapport and demonstrate that you are genuinely interested in helping the lead. This technique also helps you uncover the lead’s motivations and any underlying issues that might affect the deal. By taking the time to understand their situation, you can tailor your offer to meet their needs more effectively.
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3. Train Your Team: Developing strong sales skills is essential for successful wholesaling. Regularly train your acquisition managers and lead managers to reframe conversations and handle objections. By improving your team’s ability to engage with leads and extract valuable information, you increase your chances of closing more deals.

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By using these techniques, you can turn initial inquiries into meaningful conversations that lead to successful deals.

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Strategy #6: Persistently Following Up with Leads

One common issue wholesalers face is leads asking you to stop calling. This reaction often occurs because you reached out at an inconvenient time. It doesn't necessarily mean the lead is uninterested. Persistence is key in these situations, but it must be done thoughtfully to avoid being perceived as annoying.

If a lead tells you to stop calling, try these steps:

1. Change Your Approach: Use different phone numbers or try different times of the day. Sometimes a different caller ID or a more convenient time can make a significant difference in response rates.
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2. Adjust Your Tone: When you reach out again, use a different tone or script. A softer, more empathetic approach might be more effective, especially if the lead is going through a tough time.
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3. Multi-Channel Follow-Up: Don’t rely solely on phone calls. Send text messages, emails, or even direct mail. A varied approach can keep you on their radar without being intrusive.

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Understanding the reasons behind a lead's request to stop calling can provide valuable insights. They might be in a stressful situation, such as dealing with financial difficulties, divorce, or a recent bereavement. By showing empathy and adjusting your strategy, you can build trust and increase your chances of closing the deal.

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Strategy #7: Addressing Leads Not Picking Up the Phone

It can be frustrating when leads don’t pick up the phone, but it’s important to remember that this doesn’t mean they’re not interested. Studies show that it can take 6 to 11 touchpoints to reach a lead successfully. Therefore, persistence and a structured follow-up strategy are crucial.

Here are some tips to improve your contact rate:

1. Speed to Lead: Respond to new leads within the first five minutes. The faster you respond, the higher your chances of making contact. Use automated systems to send immediate text messages or emails if you can’t call right away.
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2. Multiple Touchpoints: Combine calls with text messages, emails, and even social media outreach. Each touchpoint increases the likelihood of getting a response. For instance, after calling, send a follow-up text like, “Hi [Name], I just tried calling you about your property. When is a good time to chat?”
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3. Consistent Follow-Up: Create a follow-up schedule that includes multiple attempts over several days or weeks. This persistence shows that you’re serious about helping them.

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Remember, leads may not pick up the phone for various reasons, such as being at work, dealing with personal issues, or simply missing your call. By consistently reaching out through different channels, you increase the chances of eventually making contact and moving the conversation forward.

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Strategy #8: Converting Leads with Low Equity

Low-equity leads can seem like a dead end, but with creative financing solutions, they can be transformed into profitable deals. Many wholesalers miss out on these opportunities because they only look for high-equity properties. Here’s how you can turn low-equity leads into successful transactions:

1. Subject-To Deals: This involves taking over the existing mortgage payments while the property remains in the seller's name. It allows you to control the property without needing substantial equity.
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2. Seller Financing: Negotiate terms where the seller finances the sale. This can be beneficial if the seller doesn’t need the full amount upfront and is open to receiving monthly payments.
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3. Hybrid Solutions: Sometimes combining different financing strategies can make a deal work. For example, you might use a mix of subject-to and seller financing to structure a deal that benefits both parties.

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Learning from experts in creative financing, such as PA Morby and Eric Brewer, can provide you with the knowledge and confidence to handle these types of deals. By expanding your toolkit, you can turn more leads into successful transactions, regardless of their equity situation.

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Strategy #9: Managing Mobile Homes and Land Leads

Mobile home and land leads often get dismissed because they don't fit the typical property profile wholesalers look for. However, these leads can still be valuable if approached correctly. The key is to set the right expectations and leverage partnerships.

1. Set Marketing Expectations: Clearly communicate with your marketing team to filter out unwanted leads. However, be prepared to handle some mobile home and land leads that come through.
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2. Partner with Specialists: Find JV partners who specialize in mobile homes or land. These specialists can help you monetize leads that you might otherwise discard. For example, if you get a lead for a mobile home, partner with a mobile home investor to turn it into a profitable deal.
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3. Resourcefulness: Sometimes, a mobile home or land lead can lead to additional opportunities. Engage with these leads to see if they have other properties that fit your criteria or can refer you to potential sellers.

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One of our clients effectively managed mobile home leads by partnering with a specialist. They turned a seemingly unviable lead into a profitable deal through a JV agreement, demonstrating the value of being resourceful and building a network of specialists.

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Strategy #10: Dealing with Real Estate Agents and Wholesalers

You’ll often come across leads where real estate agents or other wholesalers are inquiring about properties. Instead of viewing these inquiries as competitors, see them as potential collaborators.

1. Collaborate with Agents: Real estate agents might have clients who are struggling to sell their properties. By partnering with these agents, you can help them close deals that they might not be able to handle alone. This can lead to more business and referrals.
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2. Work with Wholesalers: Other wholesalers might reach out because they need help disposing of a property. Establishing a network of wholesalers can provide you with additional deals and opportunities. For instance, you might help another wholesaler close a deal in exchange for a commission or future collaboration.
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3. Provide Value: Always aim to provide value, even if the initial lead doesn’t seem promising. Helping an agent or wholesaler can lead to future opportunities and build your reputation in the industry.

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One client turned an agent’s inquiry into a profitable deal by offering to help with a property the agent couldn’t sell. This collaboration not only resulted in a successful transaction but also established a valuable relationship for future deals.

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Strategy #11: Differentiating Between Distress and Motivation

Understanding the difference between distress and motivation is crucial in wholesaling. Not all motivated sellers are in distress, but all distressed sellers are usually motivated. Recognizing this distinction can help you better qualify leads and tailor your approach.

1. Identify Motivation Triggers: People can be motivated to sell for various reasons, such as divorce, job relocation, financial hardship, or simply wanting a change. These motivations might not always involve distress but still indicate a strong intent to sell.
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2. Expand the Gap: Your job is to find the gap between where the seller is now and where they want to be. By expanding this gap through your sales process, you can increase their motivation to sell to you. Ask probing questions to understand their goals and challenges better.
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3. Tailor Your Approach: Customize your pitch based on the lead's motivation. For instance, someone relocating for a job might prioritize a quick sale, while someone facing financial hardship might need creative financing solutions.
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4. Build Trust: Show empathy and understanding for their situation. Building trust with your leads can make them more willing to work with you, even if they’re not in immediate distress.

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Recognizing and acting on motivation rather than waiting for distress can lead to more closed deals and better relationships with your clients.

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Strategy #12: Dealing with Disconnected or Fake Phone Numbers

Leads sometimes provide disconnected or fake phone numbers. Instead of discarding these leads, use creative methods to track down the correct contact information.

1. Drive to the Property: If you have the property address, consider visiting in person. One of our clients knocked on a door and successfully engaged the seller, leading to a profitable deal. This approach requires effort but can yield high rewards.
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2. Skip Tracing: Use skip tracing services to find alternative contact information. These services can provide additional phone numbers, email addresses, and even social media profiles linked to the lead.
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3. Contact Neighbors: Sometimes, neighbors can provide useful information. If you can’t reach the seller directly, ask neighbors if they have a current phone number or know the best time to contact them.
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4. Send Direct Mail: Sending a letter or postcard to the address can also prompt a response. Make your mail engaging and offer a clear reason for the seller to get in touch with you.

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Persistence and creativity in finding the right contact details can turn seemingly dead leads into valuable opportunities.

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Strategy #13: Engaging with Non-Owners

Sometimes, leads don’t own the property but are involved in the decision-making process. Rather than dismissing these leads, engage them to gather more information and potentially reach the actual owner.

1. Understand Their Role: Determine how the lead is connected to the property. They might be a family member, friend, or tenant. Understanding their relationship can provide insights into the property’s situation.
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2. Build a Relationship: Even if the lead doesn’t own the property, they can influence the owner’s decision. Building a positive relationship with them can facilitate communication with the actual owner.
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3. Request a Meeting: Ask if they can arrange a meeting with the property owner. Offer to explain how you can help and why it’s beneficial for them to consider your offer.
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4. Gather Information: Use the opportunity to gather as much information about the property and the owner's motivations as possible. This information can help you craft a more compelling proposal when you do speak with the owner.

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By engaging non-owners effectively, you can navigate through gatekeepers and reach decision-makers.

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Strategy #14: Educating Sellers Asking for Retail Prices

When sellers ask for retail prices, it often stems from a lack of understanding about the real estate market. Your role is to educate them and offer alternative solutions that align with their needs.

1. Provide Market Insights: Explain why their expected price might not be realistic based on current market conditions. Use comparable sales data to illustrate your points.
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2. Offer Alternatives: Present different options, such as creative financing or innovations, which might meet their financial goals more effectively than a traditional sale.
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3. Highlight Benefits: Emphasize the benefits of working with you, such as a faster closing process, no need for repairs, and reduced closing costs. These advantages can make your offer more attractive despite being lower than retail.
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4. Build Credibility: Share success stories and testimonials from other sellers you’ve helped. Demonstrating your track record can build trust and make sellers more receptive to your proposals.

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Educating sellers and offering tailored solutions can convert leads with unrealistic price expectations into closed deals.

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Strategy #15: Managing Leads Who Cuss You Out

Encountering leads who are rude or hostile can be challenging, but it’s important not to take it personally. These reactions often stem from stress or frustration, not necessarily a lack of interest.

1. Stay Calm: Respond calmly and professionally. Don’t engage in arguments or escalate the situation. A composed response can sometimes defuse the tension.
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2. Reframe the Conversation: Try to understand the lead’s frustration and reframe the conversation to address their concerns. For example, you might say, “I understand you’re upset. I’m here to help and find a solution that works for you.”
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3. Follow Up Later: Sometimes, it’s best to end the call and follow up at a later time. People’s moods can change, and a less stressful moment might lead to a more productive conversation.
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4. Use Different Numbers: If a lead consistently reacts negatively, try calling from a different number. They might not recognize it and be more open to talking.
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5. Learn and Improve: Reflect on these interactions to identify any improvements you can make in your approach. Training your team to handle difficult calls can also improve overall effectiveness.

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Managing hostile leads with patience and professionalism can sometimes turn a negative interaction into a successful deal.

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Strategy #16: Ensuring Leads Show Up to Appointments

High no-show rates for appointments are a common issue in wholesaling. Implementing strategies to ensure leads show up can significantly increase your chances of closing deals.

1. Build Rapport: Establish a connection during your initial conversation. The stronger the rapport, the more likely they are to honor the appointment. Show genuine interest in their situation and express your commitment to helping them.
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2. Send Reminders: Use multiple channels to remind leads about their appointments. Send confirmation emails, text reminders, and even phone calls a day before and the day of the appointment. Automated systems can help manage these reminders efficiently.
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3. Provide Value: Ensure the lead understands the value of the appointment. Explain what they can expect and how it will benefit them. If they see the appointment as valuable, they’re more likely to show up.
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4. Offer Flexibility: Be flexible with scheduling to accommodate the lead’s availability. If possible, provide options for different times or dates to ensure they can commit to the appointment.
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5. Use Credibility Tools: Share testimonials, case studies, or any relevant documentation that boosts your credibility. If leads trust you and see proof of your effectiveness, they are more likely to follow through.

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By implementing these steps, you can reduce no-show rates and increase your opportunities to close deals.

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Strategy #17: Handling Leads That Sold to Another Investor

It’s frustrating when a lead sells their property to another investor. However, this can be an opportunity to improve your approach and refine your process.

1. Analyze the Loss: Evaluate why the lead chose another investor. Was it the offer, timing, rapport, or something else? Understanding the reason can help you identify areas for improvement.
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2. Improve Your Offer: Ensure your offers are competitive and clearly communicated. Highlight the unique benefits you provide, such as a quick closing or flexible terms, to make your offer more attractive.
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3. Speed to Lead: Respond to leads promptly. Speed is critical in real estate transactions. The faster you engage with a lead, the better your chances of securing the deal.
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4. Enhance Your Sales Process: Continuously refine your sales process. Ensure your acquisition managers are trained to build rapport, ask the right questions, and address objections effectively.
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5. Follow Up: Keep the door open for future opportunities. Stay in touch with leads who sold to another investor. Circumstances change, and they might consider working with you in the future if they were satisfied with your interaction.

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Learning from these situations and improving your process can prevent future losses and increase your closing rate.

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Strategy #18: Engaging Leads Not Serious About Selling

Leads that don’t seem serious about selling can be challenging, but there are ways to turn these interactions into successful deals.

1. Qualify Properly: Use a structured qualification process to determine the lead’s motivation and urgency. Ask open-ended questions to uncover their true intentions and needs.
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2. Educate and Inform: Sometimes, leads aren’t serious because they lack information. Educate them about the market, the selling process, and how you can help. Providing valuable insights can shift their perspective.
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3. Nurture Relationships: Build long-term relationships with leads. Even if they’re not ready to sell now, maintaining contact through follow-ups and value-driven communications can convert them into clients later.
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4. Offer Solutions: Address any barriers they might have to selling. If they’re hesitant due to uncertainty about the process or market conditions, offer solutions that make selling more appealing and less daunting.
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5. Evaluate Your Approach: Reflect on your interactions to identify any improvements you can make. Sometimes, adjusting your communication style or presentation can make a difference in engaging reluctant leads.

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By refining your approach and nurturing leads over time, you can turn initially unmotivated prospects into successful deals.

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Strategy #19: Managing Bad Deals That Don’t Close

Not every deal will close, and handling bad deals effectively is crucial for maintaining momentum in your business.

1. Assess the Situation: Analyze why the deal didn’t close. Was it due to financing issues, problems with the property, or a breakdown in negotiations? Understanding the cause can help you address similar issues in the future.
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2. Maintain Professionalism: Handle failed deals professionally. Ensure clear communication with all parties involved, and leave the door open for future opportunities. A professional approach can preserve your reputation and relationships.
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3. Learn and Adapt: Use failed deals as learning experiences. Identify any patterns or recurring issues that you can address in your processes, training, or approach to minimize similar occurrences.
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4. Have Backup Plans: Always have alternative strategies and backup plans. If a deal falls through, having other potential deals or options can help you stay on track and mitigate the impact.
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5. Follow Up Later: Circumstances change. Revisit deals that fell through after some time. The situation may have evolved, presenting a new opportunity to close the deal.

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Handling bad deals with professionalism and learning from them can strengthen your business and prepare you for future challenges.

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Strategy #20: Responding to Feedback from Marketing

Your marketing efforts play a crucial role in generating leads. Ensuring that you effectively respond to and optimize based on feedback can significantly enhance your results.

1. Collect Feedback: Regularly gather feedback from your leads, clients, and team about your marketing campaigns. Understand what’s working and what’s not from multiple perspectives.
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2. Analyze Data: Use analytics to track the performance of your marketing channels. Identify which sources generate the most qualified leads and the highest conversion rates.
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3. Adjust Strategies: Based on feedback and data analysis, make necessary adjustments to your marketing strategies. This might involve changing ad copy, targeting different demographics, or exploring new marketing channels.
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4. Test and Iterate: Continuously test different approaches and iterate based on the results. A/B testing can help you identify the most effective tactics and refine your marketing efforts.
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5. Communicate with Your Team: Ensure clear communication with your marketing team about the insights and changes needed. A collaborative approach helps align efforts and achieve better outcomes.

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By actively responding to feedback and optimizing your marketing strategies, you can improve lead quality and increase your deal flow.

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Strategy #21: Competing with Multiple Offers

In a competitive market, dealing with leads that have multiple offers requires a strategic approach to stand out.

1. Speed to Lead: Respond quickly to new leads. The faster you engage, the better your chances of standing out among multiple offers. Immediate follow-up shows professionalism and eagerness.
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2. Build Rapport: Establish a strong connection with the lead. People are more likely to work with someone they trust and feel comfortable with. Build rapport by showing genuine interest and empathy.
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3. Highlight Unique Benefits: Clearly communicate the unique benefits of working with you. Whether it’s a faster closing, flexible terms, or exceptional customer service, make sure your offer stands out.
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4. Provide a Personal Touch: Customize your approach to address the specific needs and concerns of the lead. A tailored offer that shows you understand their situation can be more appealing than a generic one.
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5. Follow Up: Don’t be discouraged if you don’t get an immediate response. Follow up consistently and professionally. Persistence can pay off, especially if other offers fall through or fail to meet the lead’s expectations.

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By differentiating yourself and providing exceptional value, you can win deals even in a competitive environment.

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Strategy #22: Addressing High Asking Prices

Sellers asking for high prices can be challenging, but with the right approach, you can negotiate successfully.

1. Understand Their Perspective: Start by understanding why the seller is asking for a high price. They might be basing it on outdated market information or emotional attachment to the property.
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2. Educate and Inform: Provide data and insights about the current market conditions. Use comparable sales to show realistic pricing and explain the benefits of a fair offer.
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3. Offer Creative Solutions: Present creative financing options, such as seller financing or lease-to-own arrangements, that can meet their financial needs without requiring a high upfront price.
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4. Highlight Your Value: Emphasize the advantages of working with you, such as a quick closing, no repair costs, and less hassle compared to a traditional sale. These benefits can make a lower offer more attractive.
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5. Build a Relationship: Stay in touch and continue building a relationship, even if the initial offer is rejected. Circumstances can change, and the seller might reconsider your offer later.

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By understanding the seller’s perspective and offering creative solutions, you can negotiate effectively and close deals with high asking prices.

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Conclusion

Implementing these 22 strategies, you can address the most common challenges in your wholesaling business and significantly increase your deal flow. Remember, the key to success in wholesaling lies in understanding and addressing the root causes of problems, building strong relationships, and continuously refining your processes. Whether it's responding quickly to leads, leveraging technology, or improving your sales skills, each strategy is designed to help you secure more deals and grow your business.

Stay persistent, adaptable, and always look for ways to provide value to your clients. If you found this guide helpful, subscribe to our channel, visit our website for more resources, and stay tuned for more insights on building a successful wholesaling business.