Any tips on how to establish leads?

Question

Dear Nevada REI,

Any tips on establishing solid leads for wholesale and rehab deals via direct mail campaigns or are there other means that are more effective?

Thank you.

Ron Szmik · Answer

Alex S.

Simple way to just get started is to drive for dollars.  Choose an area and become an expert in this area - drive it all times of the day, look for homes that have characteristics of neglect - poor roof, un-kept yard, signs/notices on the window/doors etc.  Target a few homes and then construct a letter telling them you are an investor looking to purchase in the area. Research Direct Mail on BP.  I have yet to send a mailer without a single phone call.  The calls may not yield anything at first but take each call and start to get comfortable talking with the potential seller.  Build your list like this to start with and then you can always purchase lists as needed.  Good Luck!

Ron

Abel Curiel · Answer

Hey Alex,

You received some great advice from @Louis Davis & @Ron Szmik!

One thing I'd add, try handwritten letters on 5 1/2 X 8 1/2 sized paper (or a similar size, doesn't have to be exact). I used these with an envelope that was slightly larger than invitation-sized envelopes and it yielded my highest response rate to date. Of course, handwritten letters are super time consuming but if you keep your pen/marker and paper handy, you'd be surprised how many you get done during your downtime.

Best of luck to you!

-Abel

Rolanda Eldridge · Answer

Alex S....Network with local investors.  Let all the professionals in your network know you're buying.(attorney, realtor, CPA, Insurance, etc...)...It takes time, but eventually people will call you..

Ron Szmik · Answer

Alex S. another good way to network is reach out to local real estate agents or search BP to see if they have any local meet-ups in your area.

Good Luck!

Erik Peddle · Answer

Relationships = success!!  Enjoy people and help them succeed and they will return the love.  If they don't then they aren't people you would enjoy anyways!

-advise I heard from someone else

Jennifer L. · Answer

@Ron Szmik Thank you very much for the words of advice....establishing a relationship with a potential seller is the best way to closing a deal.  Thanks again Ron!

Louis Davis · Answer

There no such thing as a solid lead. You just have to market and talk to as many people as possible until you find a truly motivated seller. But you can't tell if that's a good lead or a motivated seller until after the conversation. There is no tricks to this game. Just hard work and persistence.

Hope this helps,

Louis

Any tips on how to establish leads?

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