Lead Generation Tips for Real Estate Investors

I want to review some tips about lead generation. Leads are your number 1 priority… period! And you should be spending 90% of your time doing it.

Just some of the big ones include:

Driving Neighborhoods

The biggest tip when driving neighborhoods is determining the correct areas to drive. One way that I do it is… Pull up a city or zip code on REIPro’s Dashboard which will tell you the median priced homes for that area. Your goal is to find the middle to lower priced neighborhoods. Next, get a map, remember the ones you could buy at the gas station… yes, one of the old school maps which you can still purchase online. Of course, you can just use google maps and take a screen shot. Draw a circle of these areas and make it a point to drive each one. Once you’ve done this, do it again, because peoples circumstances change in time.

You’re looking for potential vacant properties, FSBO’s and for rent by owners.

Direct Mail

So direct mail is going to be one the best and least time-consuming ways to find deals. This should be a consistent and dependent of your budget. My favorite lead sources are Vacant, Absentee Owners and Pre-foreclosures. But, at the end of the day, who’s to say that someone with high equity isn’t in trouble and needs to sell. Or someone with low equity would be interested in a lease option. So, all leads sources are good, but those are my top 3.

Facebook ads

Now some of you are running Facebook ads and testing different ads. This is great but watch your budget vs how many people actually call or go to your website and fill out the form. Advertising this way must be consistent and you just can’t throw up an ad for a couple of days to see what happens.

Some of you are using a Realtors for Bank Owned and Expired listings

When you have access to funds to rehab houses, bank owned properties are great because your Realtor does most of the work and you don’t even have to pay them. My tips for bank owned are as follow:

Determine Price Range

Properties listed for more than 90 days – Typically, banks will lower their price every 30 days.

Determine, do you want to rehab properties falling over or the ones that need some lipstick

Patience – You must have patience when working this business and it’s normal to submit several offers on several properties at the same time. Because it’s unlikely you’ll get more than one accepted at a time.

With expired listings, I would use the letter we have in REIPro. Simply upload your list and create a direct mail campaign.

Here’s a basic schedule to follow to emphasize the importance of finding deals

Monday – Send Direct Mail

Tuesday – Thursday – Drive Neighborhoods

Friday – Work with new bank owned, expired listings and any properties you need to follow up on.

Now, I’m going to take this schedule and do it every week. Non-stop, until the deals come in. Now, keep in mind that you can add to this. I also want you to be creative in your effort to find deals. You may want to change up your marketing, attend local REIA meetings, set up a Google Ad word campaign, do ringless voicemail drops, purchase a local divorce list and other things to find the deals. (Just be careful of the new laws regarding auto-texting) The thing is… is that there isn’t a wrong way to find the deals. I just want you to get great at finding situations. And analyzing each situation.

Once you find a lead, save it to REIPro and start going through the 10 executable steps that walk you through the entire process.

Duplicate, Duplicate and Duplicate.