If your marketing budget is limited and you are unable to do the yellow letter mailings now how else can you locate motivated sellers ? I have put up flyers, posted online ads, put up bandit signs but have not gotten any sellers responding ? I was told to stay away from the MLS and deal with sellers only not agents…what am I doing wrong ? I am getting frustrated so any help would be appreciated…
A few questions because it sounds like you are doing the right things to get leads without spending much money.
What is your budget per month? My budget is about $200 per month, which allows me to send out roughly 400 mail pieces per month and it gets me leads. If you put out some bandit signs you probably had some kind of a budget.
Regarding your bandit signs, how were you putting them out? Did you concentrate them in one town/area and did you go back every few weeks to replenish the signs that have been taken down or fell down? With signs you have to be diligent about keeping the signs up and it takes time for them to start working really well. After a while if the calls still aren’t coming in, maybe it’s just the neighborhood and you should switch it up.
Other way to get leads…
- talk to local business owners to see if you can hang your “we buy houses” sign in their window. You can offer to give them a few hundred dollars for each deal you close because of that sign.
- Talk with local real estate agents to help you make offers on REO properties.
- Go to the court house in a few counties, pull probate leads. You can then sell that list to make some cash to help you fund some of your marketing.
- create a website and do all the things that need to be done (SEO) to get it to rank highly Google for your local area.
All of those things above are free or close to it in terms of money, but you’ll have to really spend a lot of time getting them done and done right. Well worth it if you ask me.
Hope that helps
Craigslist and other online classified ads, FSBO’s, public records…these cost nothing.
Browse through them, email and call the Sellers.
Scott, do you currently do this? Who would your top 3 buyers for these leads be?
JV or partner with other wholesalers in your area. They may have deals you can push to your buyers. Spreads may be good enough for you and the other wholesaler to eat. :smile