Off-Market Properties? How do you acquire them?

Real Estate Agent · Atlanta, GA · Member since 2022 · 4 posts · 17 votes

How much do you spend on marketing to find off-market properties? If you are not marketing, how do you come across your off-market deals?

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Jake Soper

Real Estate Consultant · Lawrence, MA · Member since 2020 · 216 posts · 157 votes

Jerryll, no one needs to see these screenshots anymore. Its 2022, we've all seen carrot automated workflows.

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Joe Gonzalez
Wholesaler · Houston, TX · Member since 2017 · 264 posts · 212 votes
4y
Quote from @Jake Soper:

@Jerryll Noorden You couldn't come close to ruining business for me. Its simply appalling to hear you bash any form of marketing except your own, then have the nuts to claim you aren't like all the other gurus. You're a fraud.

This Jerryll Noorden guy is definitely a fraud. Everyone should be careful.
1 Reply
Joseph Stern
Investor · Tampa, FL · Member since 2020 · 287 posts · 152 votes
4y
@Tay Lovett Hello Tay, there are multiple free and paid ways to find off market property.
Free:
1. Reaching out to realtors in your area for pocket listings or off market property that has not been listed yet
2. Connecting with wholesalers and buying deals from them
3. Driving for dollars, taking the address and putting it in truepeoplesearch.com to get the owners phone # and calling if they want to sell
4. Pull a list of coming foreclosures from public records usually free, get the owners phone numbers and calling to see if they want to sell before auction. This works for tax deed as well depending on the state you’re in. (read your local laws before doing this)
5. Networking and referrals from friends and family of distressed situations.
6. Ask occupations around town that are always driving like mail men, delivery drivers etc that if they see a vacant looking house send it your way and you will give them a referral fee for doing so. ( if your state allows you to assign contracts without a license you can legally give them the referral fee, if it’s not allowed you won’t be able too)
Paid:
1. Virtual assistant
2. Skip trace a list and upload it for automated sms or drop voicemail campaign
3. Direct mail
4. Bandit signs
5. Radio/billboard/tv ad
6. Google/social media ads
7. Website for sell house fast
8. Ads in local businesses
9. Probate lists (some areas it’s free)
10. Pay fleet of door knockers and drivers to scour up leads over town and follow up with them
Hope this helps!
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Tay Lovett
OP
Real Estate Agent · Atlanta, GA · Member since 2022 · 4 posts · 17 votes
4y
I appreciate the feedback and the entertainment! We lock up around 60-70 per month utilizing many different outlets. I wanted to see if there were any techniques that I may be overlooking. Thank you all once again!
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Hammed Lawal
Rental Property Investor · Indianapolis, IN · Member since 2022 · 2 posts · 1 vote
4y
Go to local meet up in the market you're willing to buy, network with local teams and show you're serious.
1 Reply
Mike WilliamsPro Member
Real Estate Broker · Dalton, GA · Member since 2010 · 244 posts · 35 votes
4y
My vote for finding off-market deals is to network in the community that you want to purchase in. I'm an agent and investor, and I send a ton of "off-market" deals to investors I work with, and some even go to the MLS, it depends on what the client needs. As Realtors, we often find folks who just want to be done with their situation, and several times a year I have clients that ask me not to put their home on the MLS because they don't want the hassle of showings, or they are embarrassed by the condition of the home, or various other reasons. Nonetheless, a good Realtor on your side could be very valuable, for on and off-market deals.
Somebody mentioned Bill Cook earlier, I learned from him a couple of decades ago when he and Kim first starting teaching in Cartersville..."MLS stands for motivated list of sellers". :) I would argue that there definitely is a percentage of highly motivated sellers on the MLS.
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Gina SternPro Member
Investor · Boca Raton, FL · Member since 2019 · 1k+ posts · 159 votes
4y
Do you ever suggest to your potential investors to source Foreclosure and Tax Deeds at the County Auction or as a Realtor is that something that you research too?
[email protected]561-430-2616
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Carey Greiner
Real Estate Broker · Bend, OR · Member since 2018 · 8 posts · 3 votes
4y
Quote from @Steven Foster Wilson:

Quote from @Tay Lovett:

How much do you spend on marketing to find off-market properties? If you are not marketing, how do you come across your off-market deals?

I cold call for off-market properties here in Columbus and surrounding areas. Also, networking is a great way to find them.

What are you getting from successful cold calls? Are you listing as a Realtor or getting sellers that want to sell at discounts?
1 Reply
Carey Greiner
Real Estate Broker · Bend, OR · Member since 2018 · 8 posts · 3 votes
4y
Anyone else working with a list of particular demographic information, that's a great source for projects?

I'm just digging in, harder now, to get great lists too! I am shopping for distressed sellers and distressed properties, as I've been successful at value add investing for the last few years, both commercially and residentially. I'm looking for lists that would include folks who've passed away, properties with water or electrical shut offs, and maybe more.
Currently I have capital to employ and have three experienced investors, combined we have $350k to invest in Oregon - ideally on 5+ unit multifamily and mixed use projects to improve the communities and assist with housing.
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Jerryll Noorden
Flipper/Rehabber · Wilton, CT · Member since 2015 · 4k+ posts · 4k+ votes
4y
Quote from @Carey Greiner:
Anyone else working with a list of particular demographic information, that's a great source for projects?

I'm just digging in, harder now, to get great lists too! I am shopping for distressed sellers and distressed properties, as I've been successful at value add investing for the last few years, both commercially and residentially. I'm looking for lists that would include folks who've passed away, properties with water or electrical shut offs, and maybe more.
Currently I have capital to employ and have three experienced investors, combined we have $350k to invest in Oregon - ideally on 5+ unit multifamily and mixed use projects to improve the communities and assist with housing.

Please be careful here.
Lists don't generate motivated sellers.
Example... Absentee owners right? Everyone says that is a great list. How many of you are absentee owners? Are you interested in selling your investment property at a discounted rate to an other investor?
No!
OK tired landlord. Same thing. Are you going to sign all your hard earned equity away just because you no longer want to have tenants?
No! Of course not.
Foreclosures?
Do you think people in foreclosures want to sell? No they want to KEEP their house. In fact, they rather poop smack in the middle of the living room, pour concrete down the drain and destroy the cabinetns than sell... let alone sell at a discount.
I get a ton of motivated seller leads.. as in ACTUALLY motivated sellers, and only a FEW of my leads are in foreclosure, tax issues, liens, tired landlords.. only a handful.
Lists inherently don't work! Can you get lucky.. of course you can.. but that is exactly it. You got lucky.
So now.. if lists are all about luck.. how does one improve your luck?
Exactly.. by sending out THOUSANDS of mailers. That is "the only way" to increase success right?
NOOOO wrong.
Look at this equation...
Deals = # of Marketing X Conversion Rate
That is a general equation, so lets make it more specific. Lets pick DMM.
#ofDeals = #ofMailers X DMMConversionRate
So what does everyone do to increase the #ofDeals?... they increase the [#ofMailers].. but why?
There are 2 elements in that equation.
By increasing the #ofMailers, you are not increasing the efficiency nor the effectiveness of your strategy right? Your conversionrate for DMM is and remains 0.5%!!
Increasing the #ofMailers, also increases you costs and this is extremely counter productive.
You need to increase the CONVERSION RATE of your syste, How? You need to pick a DIFFERENT marketing strategy to increase that number.
Do you start to see how I mathematically have proven that DMM, Cold Calling, Text messaging.. anything to do with a list simply doesn't work when it comes to mathematical standards?
No man. drop the lists
While people doing lists are dealiong with a 0.5% conversion rate, other systems have a 80%+ conversion rate. NO joke!!
Hope this opened your mind a bit my man! GOod luck!
0 Reply
Bob S.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
4y
Quote from @Tay Lovett:

How much do you spend on marketing to find off-market properties? If you are not marketing, how do you come across your off-market deals?

I have done 'about 500 deals in the Cleveland markets, all with zero marketing or cold calling. All come from "wholesalers" referrals, sheriff auctions, tax liens etc. Its all about your network

1 Reply
Steven Foster Wilson
Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
4y
Quote from @Carey Greiner:

Quote from @Steven Foster Wilson:

Quote from @Tay Lovett:

How much do you spend on marketing to find off-market properties? If you are not marketing, how do you come across your off-market deals?

I cold call for off-market properties here in Columbus and surrounding areas. Also, networking is a great way to find them.

What are you getting from successful cold calls? Are you listing as a Realtor or getting sellers that want to sell at discounts?

I get multiple benefits from cold calling. If they do not want to sell but are still looking to buy more properties then I gain a new client. I often find sellers that are in distress so they are just ready to get rid of their property. Example, I cold called someone and he sold me his property for $35,000 that was in Columbus (Linden), it was a home run deal. If they want too much so I am not going to buy it I offer to list it or find them an off market deal buyer so then they do not have to pay the commission but that is wrapped up in the price. A lot of sellers are more willing to do that. Through doing that I find my clients deals that they could not find on market and would be better than what they could find.
4 Reply
Carey Greiner
Real Estate Broker · Bend, OR · Member since 2018 · 8 posts · 3 votes
4y
Quote from @Steven Foster Wilson:

Quote from @Carey Greiner:

Quote from @Steven Foster Wilson:

Quote from @Tay Lovett:

How much do you spend on marketing to find off-market properties? If you are not marketing, how do you come across your off-market deals?

I cold call for off-market properties here in Columbus and surrounding areas. Also, networking is a great way to find them.

What are you getting from successful cold calls? Are you listing as a Realtor or getting sellers that want to sell at discounts?

I get multiple benefits from cold calling. If they do not want to sell but are still looking to buy more properties then I gain a new client. I often find sellers that are in distress so they are just ready to get rid of their property. Example, I cold called someone and he sold me his property for $35,000 that was in Columbus (Linden), it was a home run deal. If they want too much so I am not going to buy it I offer to list it or find them an off market deal buyer so then they do not have to pay the commission but that is wrapped up in the price. A lot of sellers are more willing to do that. Through doing that I find my clients deals that they could not find on market and would be better than what they could find.

This is Gold Steve Wilson!
Do you mind sharing how you get the lists (and details about the details you are identifying in your list criteria) you are calling and prospecting on?
have you had services that do texting or cold calls to bring you 'warmer' leads?
I'm looking back through my list from Deal Machine and mining for the primo properties I will run long follow ups on, usually multifamily and commercial properties. I had one 13 plex seller that loved receiving the post cards with a photo of her building on it. I was not in a position to buy it, at that time, so instead brought the seller a buyer and Brokered the deal. The program is easy to use and can provide results through the process.
0 Reply
Steven Foster Wilson
Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
4y
Quote from @Carey Greiner:

Quote from @Steven Foster Wilson:

Quote from @Carey Greiner:

Quote from @Steven Foster Wilson:

Quote from @Tay Lovett:

How much do you spend on marketing to find off-market properties? If you are not marketing, how do you come across your off-market deals?

I cold call for off-market properties here in Columbus and surrounding areas. Also, networking is a great way to find them.

What are you getting from successful cold calls? Are you listing as a Realtor or getting sellers that want to sell at discounts?

I get multiple benefits from cold calling. If they do not want to sell but are still looking to buy more properties then I gain a new client. I often find sellers that are in distress so they are just ready to get rid of their property. Example, I cold called someone and he sold me his property for $35,000 that was in Columbus (Linden), it was a home run deal. If they want too much so I am not going to buy it I offer to list it or find them an off market deal buyer so then they do not have to pay the commission but that is wrapped up in the price. A lot of sellers are more willing to do that. Through doing that I find my clients deals that they could not find on market and would be better than what they could find.

This is Gold Steve Wilson!
Do you mind sharing how you get the lists (and details about the details you are identifying in your list criteria) you are calling and prospecting on?
have you had services that do texting or cold calls to bring you 'warmer' leads?
I'm looking back through my list from Deal Machine and mining for the primo properties I will run long follow ups on, usually multifamily and commercial properties. I had one 13 plex seller that loved receiving the post cards with a photo of her building on it. I was not in a position to buy it, at that time, so instead brought the seller a buyer and Brokered the deal. The program is easy to use and can provide results through the process.

Thanks Carey! I do not have details about how I do my list criteria, I just call anyone and everyone. I use mojo to call and I use prop stream to get my lists.
That is great!
0 Reply
Matthew Von Dwingelo
Investor · Atlanta, GA · Member since 2017 · 114 posts · 82 votes
4y
Quote from @Tay Lovett:

How much do you spend on marketing to find off-market properties? If you are not marketing, how do you come across your off-market deals?

I've bought probably 90% of my deals through 2 sources...
MLS & Pocket listings. If you dig into those 2 things & work them correctly you'll buy deals.
1 Reply
Tay Lovett
OP
Real Estate Agent · Atlanta, GA · Member since 2022 · 4 posts · 17 votes
4y
Quote from @Matthew Von Dwingelo:

Quote from @Tay Lovett:

How much do you spend on marketing to find off-market properties? If you are not marketing, how do you come across your off-market deals?

I've bought probably 90% of my deals through 2 sources...
MLS & Pocket listings. If you dig into those 2 things & work them correctly you'll buy deals.

Thank you for the feedback!
1 Reply
Matthew Von Dwingelo
Investor · Atlanta, GA · Member since 2017 · 114 posts · 82 votes
4y
Quote from @Tay Lovett:

Quote from @Matthew Von Dwingelo:

Quote from @Tay Lovett:

How much do you spend on marketing to find off-market properties? If you are not marketing, how do you come across your off-market deals?

I've bought probably 90% of my deals through 2 sources...
MLS & Pocket listings. If you dig into those 2 things & work them correctly you'll buy deals.

Thank you for the feedback!

Absolutely
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