Updated 22 days ago on . Most recent reply
Best way to find SFH leads?
Curious these days, how many folks are making MLS deals work versus/ buying wholesale or other type of leads? I'm a local licensed GC/inspector/Re agent looking to connect and build my portfolio again "have bought and sold over 50 and had 20 doors before going into a commercial deal. Now after exiting a larger commercial investment I'm primarily interested in SFH but have the knowledge and skill to do MF. Would like to stay away from mobile homes. Always thought a partnership between someone that could find them in need of rehab pretty readily and me use my knowledge skills and team for the Reno and resale of the asset. Or just open to talking strategy on how most are hunting in this market.
- Matthew Bates
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MLS has gotten pretty picked over in Texas. I still check it but most of what pencils in my markets doesn't last more than a couple days and you're competing with agents who've got instant alerts set up for their investor clients.
Most of my deal flow comes from wholesalers now. Not the ones blasting everyone on their list, but 3 or 4 guys I've built real relationships with over the last few years. They know my box and call me before it hits the list. That took time but it's the only way to get ahead of the competition.
Direct mail works if you're consistent. I ran a campaign in SA for about a year and got a few out of it. Cost per deal was higher than I liked but at least they weren't getting shopped to every other flipper in town.
On the partnership thing, I get the appeal but the finder/GC arrangement can get complicated fast. Finder's fee, equity split, who carries the liability. Worth sorting that out before you start having those conversations.