Off-Market Lead Generation

5 Replies

Hey everyone! Newbie here. I'm looking to get started in real estate investing and want to start out with the BRRRR method. As everyone knows, finding deals on the MLS is very difficult so I'm looking to send some direct mail to find off market leads from pre-foreclosures, I'm just not quite sure what to say in a letter. If anyone has any insight or helpful tips, I'd love to hear it!!

Thank you! :)
 

@Taylor Muell

When it comes right down to it, there are just so many ways to ask someone if they could be interested in selling their property. Each message should be an iteration of your contact information, the benefits to the Seller of working with YOU, and a strong call to action.

Don't be overly wordy, keep it short and sweet, do not tell tales ("my wife and I are looking to move into this neighborhood"...unless you really are planning to do just that....I've run a number of successful campaigns for people looking for a personal residence). Simply put, tell the truth without fluff....if you do not "buy houses like yours all the time"...don't say it.

Lastly, remember that the point of the message is to spark a conversation. Don't expect your mail to negotiate, win the deal and close...that's too much to ask of the piece. Sincerity and confidence get noticed. Fluff and stuff finds it's way to the trash can with a quickness.

@Taylor Muell , I agree with Jerry regarding honesty and fluff.  

Mail campaigns are simply marketing.  They might drum up a deal directly, but I would approach it as marketing like any other company.  Your goal is not to get a deal out of this mailer, but to start building name recognition so when someone is ready/forced to sell, you are on their list of people to call.

As you are starting out, I would also look closely at your budget and what you can really handle.  I know many wholesalers who are spending thousands and thousands, some into the 10's of thousands range, per month in mailers.  They are also able to close on properties in cash, quickly.  

Another route is to get a nice website setup, and some SEO work to drive traffic to you.  Or the free option: walk neighborhoods and knock on doors.  You will be much more memorable than a post card/mailer, and have a higher probability of getting someone to talk to you.  Like other methods, door knocking is not about getting that particular person to sell, but I know many, many investors that did this and magically the neighbor 3 doors down is thinking about selling.

Keep it simple. Try and hit certain key words. Owners get dozens of cards a week so be unique and stand out. I'd also connect with wholesalers, great way to find BRRRs

@Jerry Puckett Thank you so much for your input! I see you are a wholesaler in the Fort Worth area? That happens to be one of the markets I'm interested in getting started. I'm from the area but do not currently live there. 

@Evan Polaski Thank you for your input as well. I really appreciate you taking the time to respond to my post!

@Caleb Brown thank you! I will look into finding a couple wholesalers as well

Originally posted by @Taylor Muell :

@Jerry Puckett Thank you so much for your input! I see you are a wholesaler in the Fort Worth area? That happens to be one of the markets I'm interested in getting started. I'm from the area but do not currently live there. 

You're quite welcome Taylor. My business model has changed more to buy and hold or wholetaling, but I could certainly point you in the right direction if this is an area you're interested in.