Our Newest Market Has Made Us $311k in 4 months

Happy Tuesday Everyone!

We are wrapping up Month 4 of our relaunch of the Spokane Market after being absent from it for about a year.

I share this in our SCALE Community to give a overview of what a successful campaign launch can look like and wanted to share it here as well.

Here is the full breakdown of our Marketing, KPIs, and process for what has been a VERY successful launch.

Total Performance:

13 Deals completed so far.

11 wholesales, 1 Wholetail, 1 Novation.

Total Revenue so far $248,500 realized.

$63,000 (conservative) projected from the Wholetail and novation.

Gross Revenue of $311,500

Marketing Stack has been:

$10,000 of Direct Mail with our Normal ROS->Letter->Postcard sequence we run everywhere

SimpliLeads Callers at $2,000

so $12,000 total spend/month

$48,000 marketing spend overall so far.

All for a Gross Profit of $200,500 realized and $263,500 projected so current return on marketing is 5.49x.

Lead Generation:

350 total leads.

171 from Direct Mail for a cost per lead of $233 (much higher than average)

179 From Callers/SMS for a cost per lead of $44.

Have made 68 official offers.

Deal Breakdown:

Total cost per deal is $4363.63

11 Deals from Direct Mail for a cost of $3636.36/deal

1 Deals from Cold Calling/SMS for a cost of $8,000/deal

1 Deal from a referral that comes as a result of being an active investor 🙂

Intake/Sales Process

Process was inbound leads being received by Call Porter, being input directly into RESimpli, Lead Manager reviews and filters.

If its a weak opportunity LM calls lead and pushes for more info/motivation.

If strong opportunity they tag our AMs and their goal is to be on the phone with the seller within 30 minutes and ideally at the property same day.

Speed to lead has been HUGE for us. We have had half of our deals signed within 48 hours of the lead coming in before our competition even got he opportunity to see the property.

Dispo Process:

Our wholesale fees have been as follows. $10,000x2, $30,000x2, $36,000x2, $13,000, $13,500, $15,000, $20,000, $35,000.

We have had 6 different buyers for all deals.

One buyer bought 4 from us.

2 other have bought 2.

The other 3 have come from Investor Lift and we did not know them before hand.

Missed Opportunities:

We have had 3 deals (that I know of) that we should have had but didnt (slow to respond, competition had better rapport, ect...)

We have had to drop 2 contracts that we were too high on.

We currently have 5 that we THOUGHT we had in the bag but have been unable to figure out (still don't seem to be signed with anyone)

Summary:

We are doing the same basic, simple stuff we preach on here every day 🙂

Nothing special or sexy. Our KPIs are very standard.

Our secret has been consistency, a strong sales team, very quick speed to lead, and making ALOT of offers.

On Dispo we always go to our key buyers first, but blast out on InvestorLift anyways for brand building and also to find more buyers.

One of our new buyers finally bought (and paid above asking price) because he had missed out on a couple others being too slow to get back to us.

At this pace this market SHOULD make pretty dang close to $1m in the next 12 months.

For questions or clarifications reply to this email or hit me up on Instagram.

-Mike