Hey Bigger Pockets Gang....Can anyone give me some suggestions on lead generating lists? Looking to launch my direct mail campaign and was seeking to hit some specific targets, Absentee owners etc....Any feedback on what works would be greatly appreciated....Thanks!!
I go after the tax delinquent list. If you send to all the ones that are 2 years or more behind, they tend to be the most motivated to sell their property as the county is about to seize it from them.
Also High Equity is a good one to go after as well.
List criteria depends on list type... Most folks, myself included, like the equity list. Some like the inherited list, I dont. Some like probate and other like NOD/TS/Lis Pens.
If you run an equity list filter for the following
- 30-70% equity Position
- 5+ years ownership
- SFR (maybe Duplexes, Triplexes and Quads) I personally like SFR.
- non trust and non corp owned
- Current home value not to exceed your median home value. (I really like 2/3rds median)
Before I do any of this i like know the market. I run an algorithm on a market by compiling the following.
- number of home purchased for cash by absentee owners
- number of units per zip code
- number of NODs
- number of REOs
- Average days on market
- median sales price
- number of units under median with 30% equity or greater
- bottom 1/3rd ,middle 1/3rd and top 1/3rd
I weigh each answer differently and the same then lay the answers on top of one another and it becomes clear where to buy..
That’s awesome but how do you find all of that data out?
@Michael Quarles that’s awesome! But how do you find all that data?
That takes some work... the excel I run takes about 6 to 8 hours to complete...
The data comes from the local MLS, Trulia.com and a foreclosure data site.
The list I buy in-directly from listsource.
You can find the tax delinquent from the county you are in. And for the high equity, I get it from listsource.com
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