{"id":78929,"date":"2016-07-18T14:30:37","date_gmt":"2016-07-18T20:30:37","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=78929"},"modified":"2021-03-16T12:04:25","modified_gmt":"2021-03-16T18:04:25","slug":"2016-07-18-lead-sources-latest-deals","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/2016-07-18-lead-sources-latest-deals","title":{"rendered":"The 5 Lead Sources I Used to Find My 5 Latest Deals"},"content":{"rendered":"

In the good ole days of real estate — like 2008, 2009, and 2010 — you could pretty much pick up a rock, throw it in any direction, and hit a good deal.<\/p>\n

Cheap real estate was EVERYWHERE.<\/p>\n

However, things have changed dramatically.<\/p>\n

Finding a deal through a real estate agent<\/a> is tough. So I had a couple choices: I could sit around and wait for the next real estate crash, or I could get creative and find some different ways to find properties.<\/p>\n

So I shifted my lead acquisition strategy, and it worked. Today, I don\u2019t rely on just one method for finding deals — I rely on\u00a0several. And I recently discovered that my latest five deals all came from completely different sources. So\u00a0today I wanted to share with you what those five sources were.<\/p>\n

\"Single**Hey you! If you are interested in uncovering more hidden deals in your market, be sure to join me LIVE for this week’s BiggerPockets Webinar! We’ll be talking all about how to find great deals! Sign up here<\/a> to hold your spot. OK, back to the post!**<\/strong><\/em><\/p>\n

<\/h2>\n

1. HUD \/ MLS<\/h2>\n

So the first deal I\u2019ll talk about came from the MLS — the Multiple Listing Service, which is where real estate agents post all the properties for sale.<\/p>\n

I know I just said that I don\u2019t get a lot of deals from the MLS, but this one is a little different. In this case, I bought a single family home that was a HUD repo. In other words, it was a foreclosure being sold by the United States Department of Housing and Urban Development.<\/p>\n

The house was a classic \u201cBRRRR\u201d deal — buy, rehab, rent, refinance, repeat<\/a>. It needed some work, so I was able to buy it for $70,000, put in about $30,000 worth of work, refinance it to get all my money back out — and now I\u2019m sitting on about $60,000 in equity in that one property. Plus, I own a great cash-flowing rental in a great neighborhood. Thank you, HUD!<\/p>\n

Related:<\/strong> 4 Simple Tips for Finding Incredible Real Estate Deals<\/a><\/em><\/p>\n

Be sure to check out the latest HUD deals in your area by going to www.HUDHomeStore.com<\/a> or simply talking with a local real estate agent.<\/p>\n

\"find-deals-CAD\"<\/p>\n

2.\u00a0Zillow<\/h2>\n

The next property I bought came from Zillow.com. Now, I know Zillow often just lists properties already available on the MLS, but sometimes people post properties for sale by owner there.<\/p>\n

That was the case with Bert, who had recently inherited a single family home and needed to sell quickly. After a little negotiation, we put the property under contract, closed on the deal, and are in the middle of the fix and flip<\/a> right now.<\/p>\n

3. Lead Gen Website<\/h2>\n

I have a pretty basic \u201cI want to buy your house\u201d website, but it works. In this care, Florence searched Google for \u201clocal house buyers\u201d and came across my site. She called us up, we looked at the property, and we bought it a few weeks later. This fix and flip will likely become the most profitable I\u2019ve ever done.<\/p>\n

If you don\u2019t have a lead gen website, don\u2019t worry. It\u2019s easier than it sounds. You can get a basic one using a site like SquareSpace.com or Wix.com, or you can opt for extra fancy and get some really great features with a company like LeadPropeller. And FYI —\u00a0if you are a BiggerPockets Pro member<\/a>, head to BiggerPockets.com\/perks<\/a> for discounts on LeadPropeller and other great services.<\/p>\n

4.\u00a0Direct Mail Marketing<\/h2>\n

Direct mail marketing<\/a> in real estate is the practice of mailing letters or postcards to potential sellers, hoping a small percentage of them will say \u201cyes\u201d and sell you their home.<\/p>\n

Now, I don\u2019t do a ton of direct mail marketing yet, but it has proven fruitful. One of my latest mailings landed me this fourplex, another BRRRR deal.\u00a0After the rehabs and refinance are complete, I\u2019ll be netting nearly $1,000 per month in passive cash flow with absolutely no money down.
\n
\nRelated:<\/strong> How to Use Unique Strategies to Find Unexpected Real Estate Deals<\/a><\/em><\/p>\n

For more on direct mail, read our free eBook The Ultimate Guide to Using Direct Mail Marketing in Your Real Estate Business<\/em> at www.BiggerPockets.com\/directmail<\/a> or listen to pretty much any episode of the BiggerPockets Podcast<\/a>.<\/p>\n

And let\u2019s close this up with my latest purchase — and the cheapest property I\u2019ve ever bought.<\/p>\n

\"direct-mail-automate\"<\/p>\n

5.\u00a0The County Sheriff\u2019s Sale<\/h2>\n

When someone doesn\u2019t pay their mortgage, they get foreclosed on, and later it goes on the MLS for sale to the world. But in between, the property is typically auctioned off at the county courthouse steps — yes, they often literally do the auction on the courthouse steps.<\/p>\n

This was my first time ever buying at the courthouse, and although the process was a little confusing at times (and there was definitely some risk since I could not see the inside of the property before buying it), it paid off. I purchased this house for just $15,333.00 last month, and by next month, it\u2019ll be rented for around $800 a month.<\/p>\n

Not too shabby.<\/p>\n

—<\/p>\n

Now, if there is one thing I hope you take away from this video, it\u2019s this: Finding deals is not like it used to be. Just look at my latest five deals. Five totally different methods. Now, you don\u2019t need to be a master at every lead acquisition strategy out there, but understand that in a hot market, the winners are the hustlers.<\/p>\n

So get out there and take some action to find your next five deals.<\/p>\n