I am having trouble finding any wholesale leads. What do you guys generally do to find some decent leads to wholesale?
Have you tried a marketing campaign?
Of course…I’ve been working in investing for almost a year, but never on my own. I am now taking my first baby steps out on my own.
let me rephrase.
What marketing methods are more liable to generate wholesalable leads?
I don’t think it’s just one thing that works. Its a combination. Newspaper ads, direct mail, bandit signs, etc.
When you wholesale, you need properties that has lots of equity in them, so naturally it won’t be newer neighborhoods or people who bought the house in the past few years. Find that market and target it. Bandit signs works, direct marketing works, news papers not as big band for the bucks, at least not from what I have seen. I got good response from the weekly circulations but only when I placed my display ad on the first page.
You should wholesale the ones with equity, and bird dog the rest to still get some cash.
I have had a tremendous amount of success working with realtors, and when I am not doing there deals then I have found quite a few using short classified ads to draw people to my website, then I have reports on my website that they can request if they leave me there contact info. Then I can call them from there. A website on its own didnt do a whole lot for me, small classifieds ads did a little for me, but the two create a wonderful synergy (1+1=3) that produces alot of leads. Many people dont like to call off of classified ads but they will go to a website, and on the website I have info that they need, and in trade they leave me their info. A website sets up a very low resistance entry point for consumers, compared to a phone number alone.
When setting up your website be sure to have a catchy domain name that is both memorable and conveys a point for example if I am looking for buyers I will use my TheForeclosuresMan.xxx and if I am looking for sellers I will use TheForeclosureFixers.xxx or OffersInADay.xxx Then when I call I say hello this is so and so with whatever website that I am calling from.
For newbies having a website is the perfect tool for marketing to other investors. On the internet perception is reality so if your new investor checks out your website, in there minds they are likely to think “hey this is not another wannabe newbie investor”. They think this because the typical new rei has nothing but questions, and you have some evidence on the internet that you are at least doing something,
I could go on and on about websites and lead generation, one customer that I recieved from my website payed me over $75,000 in commissions over a 4 year period. As a realtor 90% of my business was website based and as an investor I would say 30% of my business comes from there, it could be much more but I havent really had to push my website at all.
I’ll ad more ideas later, right now I gotta put my kid to bed.