Wholesaler · Redford, MI · Member since 2015 · 153 posts · 50 votes
Hi thanks for checking this out , I have been getting pretty consistent leads from using Bandit Signs, and my website , and Realtors. Just wondering ( Because i can always use other marketing techniques) if anyone else out there is wholesaling what techniques are you using in 2016 to get motivated seller leads?
@Kyle Holsey, lots of people in our area (and others) send letters and cards on a regular basis. Some cold call, some drive neighborhoods, some knock on doors. Many people discuss their methods openly on BP. Read through the forum or type some topics into the search box. You will find many threads and blogs relating to wholesaling techniques.
@Kyle Holsey, lots of people in our area (and others) send letters and cards on a regular basis. Some cold call, some drive neighborhoods, some knock on doors. Many people discuss their methods openly on BP. Read through the forum or type some topics into the search box. You will find many threads and blogs relating to wholesaling techniques.
We are executing direct-mail on a relatively large scale in out-of-state absentee, and some smaller probate and eviction direct-mail campaigns. I received guidance on BP that owner-occupied could be an excellent list, so I'm beginning ~2,500 lead owner occupied test (with tight criteria for last sale date, non-corporate, year built, and number of properties owned by owner).
For probate, we use a white business letter with business card. We average a deal about~6 months from probate; but for only $350.00 per month that is more than fair.
For residential eviction, testing a mixture of postcards / business letters to see what produces the better results. For commercial eviction (targeting 5-12 units, non-corporate owned, last market sale pre-2001), using a business letter. No deals here yet; but it's under $300.00 per month at current volume so I haven't drawn any conclusions.
In the last leg of our out-of-state absentee, we landed two large deals (one we took ownership and listed immediately; another we purchased and are working with the current tenant on his exit plan). We are working on a moderate level rehab from our online PPC campaign (which I expect to pay for PPC for 4 more years given our current budget).
My main goal right now is to increase the number of deals completed per the number of leads generated. Perhaps we are too picky on the numbers and leaving deals on the table, because every deal we contract is a "home run" but the "home runs" don't come as often as I'd like to continue to scale up. The other issues with regard to closing more deals could be improving "targeting" on the DMM (which I'm aiming to do when I refresh lists in August - based on all I've been learning on BP), and being more creative on providing value to homeowners.
Listening to the BiggerPockets podcasts is a huge resource. The information shared by investors is so valuable. You can certainly learn plenty about generating leads there.
Hey Kyle.
I'm a current investor looking for buys in that area. I'd love to hook up to see if we can help each other out. I'm liking to buy under 50k houses. Throw me on your buyers list.
Thanks.
Chris
I'm having pretty good success with driving for dollars and making contact with abandoned property owners. It seems like that is the untapped market in my area.
Kyle Holsey - Me and my team are in Detroit as well as Metro, always looking for deals. Another great resource we use is the list for the Wayne County Tax Foreclosure Auction, which happens every year Sept-Oct. We have been doing it for years and find our best deals, as we've implemented systems, etc. We can chat if interested.
Candace Jones - Wayne County Treasurer's Auction of Tax-Foreclosed Properties. People don't pay property taxes for 3+ years and the county forecloses on them. Starts in March, and then the true auction occurs in Sept/Oct. There is a list on all properties going for tax foreclosure.
@Candace Jones - check out their website, it should answer any of your questions. That is in September, but if houses go in October, they typically lower all prices to start the bid at $500, and all back taxes are wiped clean. Pretty good deal if there are decent properties left. I've never dabbled in Inkster, there may be some good value plays there.
Candace Jones - Wayne County Treasurer's Auction of Tax-Foreclosed Properties. People don't pay property taxes for 3+ years and the county forecloses on them. Starts in March, and then the true auction occurs in Sept/Oct. There is a list on all properties going for tax foreclosure.
Brandon Foster - great reminder. Those are the worst. Very crucial to go down to the water board and take a look at the properties you're interested. If they aren't paying taxes, they aren't paying water...ha. I just got a place last year for 3k, but it had a $600 water bill attached. Luckily, if you go down to the water board downtown (I think max 3-4 at a time) they will waive if you purchased in the county auction.