Getting wholesale leads in Atlanta, GA

9 Replies

Hey Guys,

I'm excited to be a part of the BP community. I'm a novice wholesale investor in the Atlanta, GA area. Currently I'm aware of listsource ability to produce potential leads. However, starting out this seems to be a expensive option. I've also noticed that it's a bit difficult getting leads in Atlanta considering that it has a Non Judicial foreclosure process. It seems that by the time Pre-Foreclosures show up on Redfin, Zillow, and Trulia they all have auction dates. I would really appreciate someone steering me in the right direction for generating leads in Atlanta. Also, I want to begin my direct mail campaign this week so this info will really help! I thank you guys in advance

Sincerely,
Lowell

Hey Lowell,

Welcome to BP. Be sure to utilize all of the tool offered here and don't forget the blue bar above for Learning, Networking and Analyzing etc. Hope to see you around. Happy and prosperous investing.

Kudos,

Mary

Thanks! Any suggestions for leads and where to begin my direct mail campaign?

Originally posted by @Lowell Crawford:

Thanks! Any suggestions for leads and where to begin my direct mail campaign?

Market

Every direct mail campaign starts with an equity list then you branch off into sub groups once you've found what works in your market. Consider starting out with absentee owners opposed to owner occupied (higher motivation generally). 

Message

Tired landlords care most about your ability to close quickly and in all cash. Tailor your marketing message to speak to that. 

Media

Generally speaking, yellow letters will yield a higher response rate and more tire kickers. Zip letters yield a higher response rate compared to postcards (higher quality leads) but are more expensive. Postcards yield the lowest response rate and are the least expensive. Although fewer people call they tend to be more serious about selling their property.

Campaign

Plan to mail for at least 6 months; however, after three mailings reconvene and examine your results and determine if you'll continue mailing to that list and/or a subgroup(s). No two prospects are the same therefore you'll want to mix up your marketing pieces; yellow letter, zip letter, and text postcard and track your results.

Let me know if you need any more help.

@Lowell Crawford  , you've got a message from me. I can probably help you get your feet wet in the business here in ATL. 

Originally posted by @Shaun Caldwell :
Originally posted by @Lowell Crawford:

Thanks! Any suggestions for leads and where to begin my direct mail campaign?

Market

Every direct mail campaign starts with an equity list then you branch off into sub groups once you've found what works in your market. Consider starting out with absentee owners opposed to owner occupied (higher motivation generally). 

Message

Tired landlords care most about your ability to close quickly and in all cash. Tailor your marketing message to speak to that. 

Media

Generally speaking, yellow letters will yield a higher response rate and more tire kickers. Zip letters yield a higher response rate compared to postcards (higher quality leads) but are more expensive. Postcards yield the lowest response rate and are the least expensive. Although fewer people call they tend to be more serious about selling their property.

Campaign

Plan to mail for at least 6 months; however, after three mailings reconvene and examine your results and determine if you'll continue mailing to that list and/or a subgroup(s). No two prospects are the same therefore you'll want to mix up your marketing pieces; yellow letter, zip letter, and text postcard and track your results.

Let me know if you need any more help.

 Dang, man, there is not much to add to THAT!  =)

Well, I will add that Shaun's point about an "equity list" is critical - it means if you are going to mail repeatedly for 6 months, you need to start with a list that includes only people who have EQUITY.  You can get a million broke homeowners with no equity to CALL you, but what do you do with that?  If they have to bring $20,000 to closing in order to take your cash offer, is that a reasonable outcome for people who are already in financial distress (i.e., "pre-foreclosures").  Mailing to a group like code violators would also be great IF you could isolate the ones with equity.

The list of names is CHEAP compared to the 6 month cost of mailing to it.  Pay the extra 10 cents per name for the EQUITY % filter when you buy the list - otherwise you could spend $5 mailing to people (over 6 months) that have absolutely no fit to what you offer.

Most people should start with an absentee list with equity. Too many new guys try to start with these specialty lists that only really work if you know a LOT about data - cross-referencing various sources to identify a good prospect list. The guys at CoreLogic (Listsource.com) do that for living. Kent Clothier offers some data services where they have gone out and collected and cross-referenced multiple sources of data - try his stuff. Point is, just pulling an NOD (notice of default) list or a code violator list does not make a good PROSPECT list for your mailings. And the most important data element (for RE investing opportunities) is EQUITY %. "Don't mail without it!"

They say the hard the list is to obtain the better the list is. Get with Miller. He will most likely know where the foreclosures are and how to spot them early. 

@Lowell Crawford

Hey Lowell,

I'm new to this whole business as well and I am dying to get into wholesaling so I can mover further in my investing career.

I'm curious as to if you had developed some good sources for leads from your experiences since writing this post?

I'd love to hear from you

NA Miller

I'm also in the Atlanta area. Does your offer for assistance still stand? I could always use some experienced insight

Originally posted by @Andre Johnson :

@G.A. Miller

I'm also in the Atlanta area. Does your offer for assistance still stand? I could always use some experienced insight

 Hey Andre, 

Sorry for the delay in getting back to you- it's been crazy the last month! Yes, my offer stands for anyone looking to get into wholesaling. I'm a buyer as well so I'd love to meet with any new wholesalers that can feed me deals! Shoot me a PM if you'd like to chat more. 

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