What have other investors found as most effective strategies to finding deals?
I’m here in Central Jersey and have been scanning the market for about 9-12 months without much success. I’m starting to believe that once a deal hits the market, it’s too late.
What are some strategies you would recommend? Cold calling, text/email blasts, direct mail..what’s been your most effective method?
@Thomas Berardi we have been investing in the Indiana market for over 8 years and all our deals came from direct mail marketing. There's no rocket science and it's quite easy to be honest. I purchase a list of off-market properties from Listsource and start mailing to them. If you plan to do direct mail marketing then I suggest reading some blogs on BiggerPockets and educate yourself cause small details can have a great impact on this marketing.
Cold calling works too. The best way to find out which marketing strategy will work in your area is to find out what local investors are doing to find deals. Follow them but always try to do something extra to stand out.
Thanks @Ehsan Rishat !
Do you know how many calls we get from people that start with:
"Hey.. I received your card in the mail... how doe sit work?"
"Hey I saw your sign on the street, can you tell me a little bit how the process works".
Did you know that we do not send out a singe mailer, or that we do NOT put any bandit signs out? If you do strategies like the ones you have mentioned you are giving high ranking sites like ours, a TON of your leads. The best lead generation strategy, and there is no room for arguing here, NONE PERIOD, is SEO.
SEO leads are highly motivated, they are free, and our contract sign rate is between 30% and 50% (after we vet out the duds).
Do yourself a favor. Stop DMM, stop bandit signs, for Pete's sake stop driving for dollars and stop door knocking.
Do you see Nike driving for dollars?
No! Do they do DMM? No.
If these strategies worked trust me they WOULD do it!
This is the single most correct advice anyone can give you.
Get a website. Make it credible, work on SEO, and while you do all that, invest in PPC or Facebook ads to make money right now.
SEO takes time, so while you wait and work on it, obviously you want to make deals immediately. For that although not ideal, you need to drive paid traffic to your site.
Do a Google search for this: "The Forced Traffic & Conversion Strategy".
It is a completely worked out strategy/system that pretty much guarantees, leads in your inbox within weeks of applying this strategy.
Remember, you can do it all yourself. People ALWAYS think I am trying to sell SEO. Hell with them I am trying to HELP you!
And as always without concrete proof, I, like most others here will just be blowing hot hair. It will just be an opinion. (Seriously.. why do NONE of you marketers SHOW PROOF, show numbers!!)
Well I will show you proof and my numbers.
And here are my leads, (in the slow season mind you) for the last 2 days.
When you look at our ranks, it starts to make sense right?
The second anyone puts out their marketing piece, the recipient WILL do an online search to see if it is real. Well as you can see, thy will find us. And the dumbest thing is..
MOST marketers send out mailers, while they dont even HAVE a website. I mean REALLY?!
They are BEGGING the recipient to do an online search to find us.
So if you really are incredibly stubborn and you HAVE to stick to these forms of marketing like DMM... fine...
Dude at least get yourself a website. Put your URL on the mailer. Make the call to action to be: "VISIT MY WEBSITE FOR MORE INFO" and place your URL in a different color, different font, different size text as the remainder of the mailer... and make absolutely sure the website is credible!
You will do SOOOO much better (or should I say... so much less worse) :)
Remember, this is not opinion. This is not speculation.
I have done the research,
I have harvested the data.
I have analysed the data. I have repeated the experiment with all the people I have taken on and all results are uniform. They all rank #1 or are on the way there, with leads out of their bumhole!
SEO is second to NONE!
Again. You can do it yourself! No need to pay anyone.
Here is how.
I will share with you my secret to SEO.
Focus on your traffic. STOP reading online on SEO because they are ALL wrong. How do I know they are wrong? Well 1) because I cracked the code and I know what is right and wrong, and 2) Can anyone of these other people match my results? Reliably?
Well OK then!
Think about it. 90%+ of investors do DMM, CC, D4D, Bandit signs... and 90%+ of investors fail.
(duhh obviously these methods do not work).
You need to spend money to make money. All these "strategies" Invest with little or no money"... I call utter BS on it.
Sure it is possible. But if it were so great why is the success rate SO stinking LOW?!
Here is the thinking flaw when it comes to people that justify DMM DK, D4D:
They see a bunch of people all over randomly get deals doing DMM, CC, D4d, bandit signs.
So they see 15 people making deals and they think.. "Well gaadamn, sure it may not be the best method, but I just want 1 deal and THEN I will do it the right way".
Here is the flaw.
They see a handful of people and this is their data. But this is the wrong data.
Don't look at the group of people and place them in one sample group.
Each INDIVIDUAL is A sample group.
It took that individual 3 years to finally get lucky and make ONE deal. Same for all the others that got a deal.
You didn't think about all the other 34.5 BILLION people that tried it and failed (miserably).
So to you you see this:
OMG wow he made a deal.. whaaaat?? she too did it? and OMG GAAADAMN an other one got a deal doing bandit signs, and omg there yet an other person. So to YOU you random people having "success" and you see what you WANT to see.
You need to ask EACH individual, what their success rate IS!
And I suspect this is WHY all these marketing companies can NOT show data, they can't show concrete measurable reliable results! Sure they can MAYBE show that the cumulative of all their clients have made a bunch of deals. But show me how many leads ONE SINGLE client has gotten!!
So yet people choose DMM D4D... because of this. They think they are an exception.
So let me translate in language what they are LITERALLY doing!
Ready? Here goes:
clear my throat one sec..
"I will try this method that does NOT bet me paid.... TO GET paid, So that once I get the money, I will THEN do a method ... that DOES get me paid".
Yeahhh.. THAT is EXACTLY what you are doing!! Is this ridiculous or what?
Dudes... seriously. How many of you have done D4D, DMM, Bandit signs.. seriously how many of you are can compare to my results?
Hell how many of you have made a SINGLE DEAL yet?! I am not looking for those that did it. I know you exist I am looking for those that tried and have not succeeded. If you all would ONLY reply to this message with "I tried, and I didn't get crap", the community would really know the worth of these methods. I really wish you would. Seriously. Everyone loves to brag about methods they succeeded with, and of course when you fail you do not want the public to know so no one hears about the truth of these methods.
If you say here: "it didn't work"... I will help you make it work! So tell the world!
@Thomas Berardi A lot of investors find that it can be effective to look for "off market” deals. These are homeowners who haven’t taken the time and made the investment to fix up their homes before putting it on the market.
Mailing is probably the best way to find your own off-market deals. These are people who share motivational characteristics of people ready to sell, but haven't yet done all the work they think they need to list property. The best way to find them is to send out mailers.
Some good lists to target are Absentee Owners with Equity, Seniors with Long-time Ownership and Homeowners with Low Financial Stability Scores.
You can work with a list broker to optimize your list for your area. From there, there are a lot of companies that can help with the printing and mailing. Be sure that you highlight that "selling your house can be easier than you think" with the advantages of working directly with you instead of the more traditional route.