Investor · Indianapolis, IN · Member since 2014 · 2k+ posts · 601 votes
I am checking to see if anyone is doing any type of creative marketing strategies in their wholesaling business to generate more leads. I do Direct Mail, I have a lead generation Website and pay for Google Adwords, I out in offers on the MLS, and Buy Hud PRoperties.
But looking for more, Has anyone done Probate, and have you had success with it, and where do you get your leads?
Lender · Greater LA/Orange County area, CA · Member since 2012 · 3k+ posts · 3k+ votes
10y
Why don't you share with others the techniques that you have mastered in order to generate leads.
Then, other BP posters will (after recognizing your skills) chime in on the criteria that you should consider, the physical property characteristics, neighborhoods and various problems that your buyers are prepared to solve and add value.
Become a giver and a problem solver and others will be drawn to you. Of course, you already know that as a lead gen guy.
Lender · Greater LA/Orange County area, CA · Member since 2012 · 3k+ posts · 3k+ votes
10y
Yes. I work exclusively in the probate niche (for over 25 years now).
Our system is now largely referral-based and focused on the legal community. I've developed ways to become an established, trusted member of the Califirnia legal community.
Lender · Greater LA/Orange County area, CA · Member since 2012 · 3k+ posts · 3k+ votes
10y
Why don't you share with others the techniques that you have mastered in order to generate leads.
Then, other BP posters will (after recognizing your skills) chime in on the criteria that you should consider, the physical property characteristics, neighborhoods and various problems that your buyers are prepared to solve and add value.
Become a giver and a problem solver and others will be drawn to you. Of course, you already know that as a lead gen guy.
Property Manager · Griffith, IN · Member since 2015 · 1k+ posts · 913 votes
10y
Hey Brett -
We should set up a time to chat as I think we both can offer each other some ideas.
I just dropped 10K door hangers on 2 specific zips. It cost me $1K (including really nice hangers) so figured it was worth the money.
Another wholesaler I do a lot of work with does probates. He spends 2-3 days a month at county going through new records.
In my previous insurance career, networking though chamber events, rotary would good sources of connections and referral business. That will be something I implement more in 2017. Like Rick mentioned, building the relationships with local estate/divorce attorneys is huge.
So I do direct mail to 4 different lists, driving for $$$, door hangers, website and Facebook, and referrals.
Lender · Lisle, IL · Member since 2016 · 8 posts · 3 votes
10y
Brett and Rick,
Good comments. Especially think comments like sharing first and "this is what I do" - very much an abundance mentality.
Good idea about door hangars … I have door hangars aimed at Auc and PF, but have yet to find the time to accomplish this task so the metric of how well works is ... as expected not so good.
I have done all the marketing about 2X/month since 10/2015.
I get / create PF, Auc, EXP/CANC, and ACTV lists from MLS & ILFLS. Probably 4000 - 5000 in intial with some specific elimination criteria to simplify download of "hits" (e.g. $$ range and target areas)
From that initial "dumped list" I prioritize records and then send out about 400 postcards and about the same number of letters per month. I created postcards and check letters, the latter work much better in getting a response than other "forms" of direct marketing (pretty professional printed postcard and handwritten postcards). New records within these lists get check letters - those previously found get postcards. I haven’t tried any of the more costly and curiosity peaking items like a branded pen (refrigerator magnet – whatever) in an envelope.
I set up numerous criteria prior to downloading lists and with EXCEL focus/target my marketing (not necessarily in prioritizing sort/elimination order):
Home with median price range (~+/- 1 stdev),
DOM (MT & LMT)
evaluate %equity (much of the data sketchy for 2nd liens)
evaluate $/sqft (most data sketchy sqft)
Zestimate,
Target "B" areas,
weighting and distinguishing between key words in remarks for distinguishing between motivated buyers in distressed or good/ARV properties,
days to auction (don't even try if < 10 days - might consider working with someone that has expereice in solving that issue expediently),
eliminate ARM mortgages
eliminate banking institutions
removing returned mail from lists ...,
identify cash buyers
track most productive brokers
find most productive SS and or foreclosure agents (will be doing the same for probate once started)
determine "repair spread" by identify similar distressed and ARV home average prices
generate URL to quickly and easily see area and home on Google (the desk audit) ... especially if prioritization ranking is favorable or a marketing response obtained
I will also be doing hand-written letters - not sure which group would be best to use that effort on - probably probate, but not started that yet. I am about to start the same with probate, but knowledge of process is just evolving.
I have not done skip tracing but about to.
For the targeted prioritized property owners, I get phone numbers and do a voice-connect and my partners call and do a friendly "so how can I help you?" approach with no pressure - hopefully leading to getting 4-5 questions answered to determine motivated seller.
All of this has produced some varying results and still needs tweaking to get more effectiveness and create a win-win acquisition.
I find actionable and promising prospects but my $$ availability limits casting a wide enough net to be more productive. I have access to great financing but my share of the "investment" is the real limit (e.g. 20% in). I know what I am finding are worthwhile properties since within a week 80% or more of the identified homes are CLSD or PEND.
I do have to admit that I am disappointed how few phone calls are made (goal is 10 per day and I don't think even get 10 per week per person is accomplished). I will soon step up here too.
Searches...
Perhaps there are threads on this, but I found this one first. I am new to the forum and tried searching for similar info and got frustrated when initial search with 3-4 words results in nothing found (a few did) – certainly not as helpful as Google (might be too harsh). Gave up too easily and now doing simple searches … but not many yet, but then there are less specific "hits"..
An aside...
I would like to do rehabs, but the projects and those associated contractors I found so far ranged from dishonest to incapable of creating cost and time estimate OR they can do only one type of quality. We know homes of different price ranges require varying "panache".
Hope this all made sense and at least helps someone or generates more win-win relationships. I am especially interested in working with other motivated creative individuals that can review the generated prospects and take action (quickly review/see the property and prospect) so that we can share the benefits.
Real Estate Agent · Portsmouth, VA · Member since 2015 · 90 posts · 22 votes
10y
One creative thing that generates me leads and has lead to one deal is marketing in Facebook virtual yard sale groups. A lot of people are moving and looking to sell in those groups.
Yes. I work exclusively in the probate niche (for over 25 years now).
Our system is now largely referral-based and focused on the legal community. I've developed ways to become an established, trusted member of the Califirnia legal community.
Thanks Rick, I am going to send you a PM. Thanks, Brett
Thanks Rick, As most people I have mostly bought my lists from listsource.com, and agentpro247 I have been doing direct mail which works pretty good, and I try to mail to Empty nesters that are absentee owners, but I can't find large lists. I can only find like 1000 names, and I am mailing 16000 letters or postcards per month, so with that, I nearly have to blanket zip codes... So looking at being more efficient with that.
I have a lead gen website, and an SEO guy, I only pay about 1000 per month on Google Adwords, I haven't seen a lot of Success from it, I think we have done 1 deal from it in like 5 months.
I have a system with HUD HOMES an TARGET Those
We brown MLS listings and put in 20 offers per week there.
This is what I do, but looking for more way to be more efficient and get my costs down with more leads. Thanks, Brett
Investor · Cincinnati, OH · Member since 2012 · 506 posts · 331 votes
10y
We've had 0 real success with AdWords - we spend $650 a month. I get calls but it's from D/F neighborhoods and we haven't even bothered setting an appointment for any leads coming from that.
Vendor · Ashburn, VA · Member since 2014 · 72 posts · 37 votes
10y
PF = Pre-Foreclosure
We get our list from multiple lawyer websites that run the auctions here in Virginia. It takes more legwork but better data than an aggregation website that claims to have all court house submissions like Lis Pendis and Substitute Trustee
You can buy this type of data from list providers like Reiletters.com for the rest of the nation. They use three sources to verify their PF's
Real Estate Agent · Irvine, CA · Member since 2014 · 68 posts · 54 votes
10y
If you want to go for probate, connect with probate attorneys is a good way. Driving to court and looking for probate leads are time consuming. I did once and don't want to waste my time on it not mention $15 parking fee.
Real Estate Agent · Sacramento/Placer ~ San Francisco Bay Area counties · Member since 2012 · 1k+ posts · 743 votes
10y
@Renee Ren $15 parking fee. Save the receipt for your business expense as well as mileage for your taxes. Door hangers for probate marketing? Probably, if after you pull the file & have the PR & heirs address info & within driving distance.