Hi there, just made it to San Diego few days ago. I happened to go to SDCIA event and got membership. Have to say them guys know what they do. I didn't waste my time even though I have no idea about San Diego market whatsoever I already built my initial list of buyers. I spoke to people claiming they were cash buyers looking for deals.
Now the question is how do I bring them deals?
I can see many of you use something called 'yellow letters'. Could you please give me some overview on that? First of all, why letters? Nowadays in computerized world we have emails, texts, internet etc. Letters, seriously? Then who do you send them to, where do you get addresses of potential targets? Then eventually why yellow? Why not normal white, or blue, or black, or green? What's so special about yellow?
Bandit signs. Do you just print your name/telephone number and some catchy phrase like 'I buy your home' and stick them all around the city? I'm not sure it's allowed to put spam like that on other people's grass.
Driving for dollars. I can sit down in a car, I can drive and I can even find a house that is wrecked - potential deal. But then how do I find who is owner, his telephone number etc.? It's very unlikely he will reside in damaged property.
Any other methods of finding deals? I assume chance of finding one on the internet is really small, so don't bother, too much competition.
And by the way - do you use your private number for property business, or have another cell phone only for that reason?
Chris, when looking for properties, I essentially use three methods:
1. Direct Mail
2. Drive for Dollars
3. Local newspaper/craigslist.
San Diego may be a whole different beast from where I live, but I find some of my best leads come from keeping a pulse on the local market by reading the paper.
Why direct mail/yellow letters? Sure, email is also a great method to reach out to potential sellers. How do you plan go get all their email addresses? If this is the method your interested, check out @Antonio Coleman's blog posts on creating a lead generating website. To answer your question: because mailing addresses are public records and easily accessible. Check out listsource.com, agentpro247.com or your county records to build a mailing list.
Yellow stands out, IMO I choose to use another color as a branding technique.
Yellow letters are mailed in the small "personal" envelopes. They are designed to look like something coming from grandma. Yellow letters as its one of the most common forms of lined paper people would use to draft a letter.
Bandit signs are illegal in most places. Check your county codes.
You should be able to find owners of properties through tax records. Should be available free online. Just go to the county assessor website.
With all of the scams involving technology I don't know how you could successfully use email lists. If you build a lead generating website great. But random emails?
"I'll pay cash for your home in one week"
Set up a Google voice to get another # have it forward to your phone and ring as the # it gives you. Save that # in your phone as Direct Mail so you always know when it's a business call vs personal.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!