If you could go back, would you shotgun or rifle it? How?

5 Replies

Hello,

I’m a new investor and I’m currently trying to build a funnel of leads for deals. I’m in Sanford, NC, a lower income area with a population of around 30,000 in the city 60k in the county. Median home price is $132k. I️ want to focus on 1-6 family residences for flips or BRRR. I’m reading Anson Young’s book and searching online and have come across the typical methods such as listings, direct mail, bandit signs, probate records, NODs etc. I️ feel like I’d be stretched thin and employing more of a shotgun approach if I️ go forward with all of these. I’m wondering if a more precise rifle approach would be better. My background is in Insurance. I️ run a State Farm Agency in Siler City, NC so I️ am definitely no stranger to marketing, cold calling, door knocking and sales in general. I’m not afraid to get my hands dirty and beat the bushes. I️ have a few questions I’d truly appreciate some feedback on:

1.) If you could go back and start over, would you employ a shotgun blast approach or a more precise method?

2.) I️ understand long term views of marketing, but in order to gain momentum I’d like some quicker wins. If I’m going to mail and door knock, what type of list do you believe provides the most direct path to deals and where would you suggest I️ build or buy this list?

Hi @Walter Ciucevich !  This is what we do:  we send unsolicited, real cash offers to homeowners. We pull homeowner data from the County Assessor (I've used both RealQuest and Data Tree) for the type of properties in the areas we want and send ALL owners an offer.

We scrub out the properties with a mortgage and spend a considerable time on pricing. We explain in our offer letter to sellers that we are serious, not agents/brokers, we pay cash, and are prepared to close in as soon as x days. We enclose a Purchase Agreement as well. Then we sit back and wait for the serious, motivated sellers to call us.

Works like a charm!

That’s a great model. We’ve done similar campaigns for insurance sending homeowners quotes to all of our target market. Would you be open to me picking your brain for 15 minutes sometime?

Originally posted by @Gen SteMarie :

Hi @Walter Ciucevich!  This is what we do:  we send unsolicited, real cash offers to homeowners. We pull homeowner data from the County Assessor (I've used both RealQuest and Data Tree) for the type of properties in the areas we want and send ALL owners an offer.

We scrub out the properties with a mortgage and spend a considerable time on pricing. We explain in our offer letter to sellers that we are serious, not agents/brokers, we pay cash, and are prepared to close in as soon as x days. We enclose a Purchase Agreement as well. Then we sit back and wait for the serious, motivated sellers to call us.

Works like a charm!

 This is great. We’ve done similar things mailing home insurance quotes to all of our target market. Would you mind allowing me to call and pick your brain for 15 minutes sometime?

@Walter Ciucevich

I like the sound of Gen's model.

Mine was a little different. Back when I was building my deal funnel, I usually utilized Wholesalers (or Bird Dogs) for marketing and they would bring the deals to me. They would do newspaper ads, craigslist ads, and bandit signs. Occasionally post cards too. All of these were targeted towards typical motivated sellers. So think out of state owners, divorcees, probate listings, etc. I'd also look for expired listings on the MLS (I always found the MLS to be a great resource). The Bird Dogs would also drive for dollars - looking for vacant or clearly distressed houses.

Many wholesalers sell their deals too. As long as you have the money, they'll talk to you. Many people would spend their time building their buyers lists, whereas I found the opposite to be more beneficial. I would build my money list. As long as you have the money, the deals find you.

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