{"id":78471,"date":"2017-03-11T14:30:30","date_gmt":"2017-03-11T21:30:30","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=78471"},"modified":"2021-03-16T11:59:11","modified_gmt":"2021-03-16T17:59:11","slug":"six-step-process-needed-find-unlimited-real-estate-deals","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/six-step-process-needed-find-unlimited-real-estate-deals","title":{"rendered":"The 6-Step Funnel Needed to Find Unlimited Real Estate Deals"},"content":{"rendered":"

If you’ve ever attended one of the weekly BiggerPockets Live Webinars<\/a> that I host each week, you’ll recognize this concept:<\/p>\n

Finding deals is a funnel: It’s wide at the top and narrow at the bottom.<\/p>\n

In other words, my goal is to get as many raw leads as I can into my funnel\u2014and then filter them out until I’m left with just a few deals.<\/p>\n

For example, I might start with 1,000 leads (I’ll talk about each of these items in detail in a moment) but only end up buying one property. That makes sense, right?<\/p>\n

But the funnel is more complex than just “leads” and “buying properties.” There are a lot of steps in between!<\/p>\n

If you want to build a scalable system for acquiring real estate deals (or even if you just want to buy one deal per year), you need to work all your leads through the following six-layer funnel.<\/p>\n

The 6-Layer Funnel for Finding Great Real Estate Deals<\/h2>\n

1. Raw Leads<\/h3>\n

Your funnel begins with your “raw leads.” This is any property that could be<\/em> a potential deal.<\/p>\n

These leads could come from the MLS, a list purchased from a direct-mail<\/a> list provider, driving for dollars<\/a>, or something else.<\/p>\n

For example, maybe you spend the afternoon driving for dollars and write down a list of 100 vacant houses in your target area. These 100 vacant houses are now your “raw leads.”
\n
\nRelated:<\/strong> 5 Deal-Finding Tricks I Use to Buy Around 100 Properties Per Year<\/a><\/em><\/p>\n

2. Hot Leads<\/h3>\n

A “hot lead” is any lead where interaction has happened with the owner.<\/p>\n

For example, if I send a direct mail letter to 1,000 landlords in my area asking to buy their house, and 50\u00a0of those landlords\u00a0call me, I now have 50\u00a0“hot leads.”<\/p>\n

Or perhaps your agent sends you a list of every duplex in a 20-mile radius (your “raw leads”) and you take special interest in pursuing a dozen of them; those are your “hot leads.”<\/p>\n

Understand that not every “hot lead” is going to be worth actually pursuing any further. Most of them, in fact,\u00a0probably won’t warrant a lot more work.<\/p>\n