Generating leads is about the creativity behind it
The real estate market is hot, everyone wants in the game, which means more competition even for experienced real estate investors.
The hard working newbies coming into the business today are willing to pay too much for a house worth a lot less. Even after all the work, they are happy to walk away with $8K to $10K profit.
Most seasoned real estate investors don’t buy a $100K house to make $8K to 10K profit, and I recommend you don’t either.
It’s just too thin of a deal. In the event something goes wrong, you can wind up losing money attempting to work on such a small profit margin. A $10K profit should be the margin you make on a house you buy for $20,000 – not $100,000!
Because of this, it has pushed me to target more creative lists with my postcard marketing than I have targeted in the past. Truly motivated sellers exist where pain of ownership is abundant.
Here are two unique sources to generate leads:
1. Probate List - People are motivated to sell their house cheap when there are uncomfortable circumstances surrounding the ownership of the property.
If you have a house that is on probate, and also in foreclosure, then you have a lot of uncomfortable circumstances surrounding the seller's ownership of the property.
There may not be a lot of houses that show up in your initial count, so you may have to also target your surrounding counties to raise the count of your list.
2. Landlord Eviction Case Filing List - This is a hard list to get. Typically, you have to have someone go to the courthouse and compile the data for you.
In this list, there are about 3,000 cases per month filed. One-third is lawyers, management companies, and the last third -- is the one I am interested in.
It’s the Mom & Pop filing list, or person-to-person evictions.This runs from 500 to 1,000 cases per month.
Even though, this list is hard to get, the better your catch will be because there are fewer investors fishing in that pond, which means more opportunity for you.
Real estate investing is all about creativity. If your current market is struggling for opportunity and is covered head to toe in competition, then put these sources to test.
You need lead generation to have a successful business so it’s time to get creative.
Take care, comb your hair!
PS: Check out my YouTube channel for more great training!
PPS: Before I let you go, I wanted to give you my eBook! Download it here!