I can't tell you how many people I work with who ask me for their numbers and don't have them tracked.
No lead-to-net-lead rate. No offer-to-contract rate. No cost per deal. They're spending $5k, $10k, $15k per month on marketing and they have no idea where the money is going or where the breakdown is happening.
Then they say "marketing doesn't work." No — you just don't know if it's working because you're not measuring it.
I've helped 43 companies scale to $100k/month. Every single one of them tracked these 7 numbers religiously. The ones who didn't track them stayed stuck.
Your Business Is a Manufacturing Line
Money goes in at the top. Deals come out at the bottom. In between, there are 7 conversion points. If any one of them is broken, the whole line underperforms — and you can't fix what you don't measure.
Here's the line:
Marketing Spend → Leads → Net Leads → Appointments → Offers → Contracts → Deals → Revenue
1. Cost Per Lead
What you pay to get someone's info. This varies by channel:
- Cold calling: $25–$35
- Facebook: $20–$120 (our average: $77.71)
- PPL: $100–$400
- PPC: $150–$400
Why it matters: CPL is your input cost. But it's also the LEAST important number on this list because a cheap lead that never converts costs you more than an expensive lead that closes. Don't optimize for lowest CPL. Optimize for lowest cost per deal.
2. Lead to Net Lead (Target: 65%)
Out of every 100 leads, how many does your sales team actually speak with AND confirm they own a home they want to sell to an investor?
If this is low: Lead quality issue. Either the leads are fake/spam (fix your filtering and phone verification), or the leads are outside your buy box (adjust targeting), or your team isn't calling fast enough (fix speed to lead — should be under 5 minutes for inbound leads).
If this is on target: Marketing is delivering real people. Move to the next number.
3. Net Lead to Appointment (Target: 35–40% for Facebook, 70% for PPC, 20% for Cold Call)
Of your qualified leads, how many have a real reason to sell (beyond just price) and want to start the process in the next 30 days?
If this is low: Either your leads lack motivation (creative/targeting issue) or your initial call isn't building enough interest to move to the appointment stage (sales training issue). Ask: are we finding the pain? Are we creating urgency? Are we setting appointments correctly?
If this is on target: The marketing channel is working. Move to the next number.
4. Appointment to Offer (Target: 90% virtual, 80% in person)
Of everyone who qualifies as an appointment, how many get an actual offer — a specific number, not a range?
If this is low: Your team is over-qualifying. If someone has a reason to sell, wants to start in 30 days, and has equity, they should get an offer. Period. Don't gatekeep appointments from getting numbers.
For a one-call close process: 90–95%. For a two-call close process (setter/closer model): 70–80% (accounting for no-shows).
5. Offer to Contract (Target: 25%)
Of all the offers you give, how many turn into signed Purchase and Sale Agreements?
If this is low: This is the biggest leverage point in your entire business. Going from 15% to 25% offer-to-contract doubles your deal volume without spending a single extra dollar on marketing.
Common fixes:
- Train on building the gap between where the seller is and where they want to be
- Stop leading with price — lead with the seller's situation
- Have multiple exit strategies so you can match the offer to what the seller actually needs
- Follow up on offers that weren't accepted — circumstances change
I have clients closing 25–30% on cold call leads. Not garbage contracts — good, clean cash deals. If they can do it on cold call, you can do it on inbound.
6. Contract to Deal (Target: 65% virtual, 80% in person)
Of your signed contracts, how many actually make it to the closing table?
If this is low: You have a dispo problem, a retrade problem, or a seller maintenance problem. Break this out by exit strategy:
- Cash deals: should close at 70–80%
- Novations: 50–60% is more common (more moving parts, longer timeline)
- Option agreements / manager pitches: ~40% (you're taking extra shots on deals, lower close rate is expected and transparent with the seller)
The best I've seen on virtual: 81% contract-to-deal on 250 closings in a single year. That operator had an excellent dispo process, a tight retrade system, and strong seller maintenance. That's the standard to aim for.
Also: your acquisitions reps matter a lot. One rep might close at 80% contract-to-deal and another at 40%. If you're not tracking by rep, you'll never find that discrepancy.
7. Average Deal Size (Target: $20k+ wholesale/novation, $50k+ flip/wholetail)
How much you make per closed deal.
If this is low: Your exit strategy mix is wrong. If you're wholesaling everything — including deals that should be novated, wholetailed, or flipped — you're leaving money on the table.
Ideal mix: 65–75% novate or wholesale (rural, bigger rehabs, tighter deals), 25–35% purchase and wholetail or flip (cherry-pick the best).
If your average deal size is under $15k, you need an unrealistic number of deals to hit $100k/month. Fix this before you try to scale volume.
How to Use This Framework
Step 1: Set up tracking for all 7 numbers. Use your CRM if it supports it, or build a simple spreadsheet. Track weekly.
Step 2: Identify the bottleneck. Look at each conversion rate and compare it to the targets. The first number that's significantly below target is your biggest opportunity.
Step 3: Fix the bottleneck. Don't try to optimize everything at once. Fix the weakest point first — that's where you'll get the biggest ROI on your effort.
Step 4: Re-measure. Give the fix 2–4 weeks to show in the data. Then move to the next bottleneck.
The companies I've helped scale to $100k/month all followed this process. They didn't find one magic marketing channel or one magic sales script. They systematically improved each conversion rate by a few percentage points — and those small improvements compounded into massive revenue growth.
A 2.6x ROI operation can become a 7.8x ROI operation by tweaking a few conversions. Same ad spend. Same team. Just better numbers at each stage.
Get Your KPIs Audited
If you're not tracking these numbers — or you are tracking them and something's off — book a strategy call. We'll walk through your current funnel, identify the bottleneck, and show you exactly what to fix.
Book a Free Strategy Call →Chandler Saine | CEO of Level Up REI
leveluprei.io