How Can I Handle Out-Of-Market / National Motivated Seller Leads?
Hello BP Community,
Currently, I am generating approximately 10 to 20 out-of-market motivated real estate seller leads per week (truly motivated - as they directly reach out me via website). Mixture of houses, condos, vacant lands, apartment buildings. Like any leads, some are better than others. Based on my usual experience, a reasonably good investor would be able to close a deal every 10 to 25 off-market leads.
I am only set to function in Florida - whether that be fix-and-flips, wholesales, rentals, or listings.
Currently, I am literally just ignoring this leads. I don't bother calling them back if they contact me online and just tell them sorry I can't work in other areas if they call on the phone. I don't have the band with to do another 2 deals per month out-of-market when I already am working 10-deals in various stages of inspection, closing, rehabbing, or managing the re-sale.
What should I do to capitalize on these leads? I'm open to any and all creative ideas . . . here is what I'm considering:
(1) Selling Exclusive Off-Market Leads. When I've looked at this topic in the past (when approached about buying), leads were selling for about $150.00. I'd probably be open to sell off-market leads for only $75.00 as I literally do no monetization currently. No funny business - I'd guarantee a full refund for any leads that were on MLS or websites within the last 12-months. As far as it being "exclusive", I'd have no intention of it not being exclusive (though not exactly sure how I could "guarantee" as it's always possible they reached out to a few investors, might just have to be on my good faith).
(2) Remote Wholesaling. Another approach that seems logical would be doing a remote wholesale. It'd be easy enough for me to look up comps, estimate repairs, and get the contract signed. What would I do at that point? Is there anyone that's set up to already do remote wholesales type deals? I'd gladly go 50/50 if I bring the deal you bring the system. Again, no idea how that would work, open to speak with someone and get anyone thoughts here.
(3) Remote Flips & Rentals. I don't think I'd be willing to do out-of-state (I'm in Florida, so my state is already huge) - but is there any type of business, investor, or whatever, that works on a large scale buying rentals and/or flips that I could either joint-venture with in some fashion (perhaps I'd get 25% for providing the deal, and you'd get 75% for bringing funding/management). The other thing to is, I just don't think I'd be able to generate the financing.
I think the other complexity here is that I don't get so many off-market national leads at this time that it'd be worth it to start my own lead selling or remote wholesale or fix-and-flip. So I think an idea strategy would ultimately be some kind of partnership where a person already sort of us does these things an I can pass along my leads/deals through some agreed upon mechanism.
I also get that - it may be different solutions for houses/condos, vacant lands, and apartments.
Open to all thoughts, ideas, suggestions!