Looking for Cost-Effective Tools for Finding Off-Market Deals

[Anthony Blanco]

Hey BiggerPockets Community,

I'm looking for some advice on finding off-market real estate deals. I know there are tools like PropStream and BatchLeads that offer a lot of features, but they can be a bit pricey, with monthly fees in the range of $100-$150. I'm wondering if there are any other tools or strategies you've found effective for sourcing off-market properties that might be more budget-friendly.

I've already identified my target market, and I'm hoping to find a tool that can help me implement my cold calling and marketing strategy to start generating some quality leads. Any recommendations or tips on what has worked for you would be greatly appreciated.

[Nicholas L.]

@Anthony Blanco

I think it's more about being connected within your market and community and less about finding the perfect tool.  How are other investors sourcing deals?  Do whatever they're doing.

With that said, though, is $100 a month really 'pricey'?  Sourcing off market deals yourself is going to require an investment...

[Jonathan Greene]

I agree with @Nicholas L., $100-$150/month is dirt cheap depending on what you are looking for. If you don't want to spend and you know your target area, pull a better list from List Source and mail handwritten letters. Cold calling isn't going to work at all.

[Anthony Blanco]

@Nicholas L.Thanks for your input. From my conversations with others in the industry, I've noticed that skip tracing software, like the ones I mentioned, can be very useful. That's why I wanted to discuss it here and get the opinions of others.

I know that adopting new software involves an investment. Before I make a purchase, I want to make sure I'm choosing the right product. My goal is to be resourceful and start with a cost-effective option, scaling up as needed. However, if you think it's better to invest more heavily in this area, especially when trying to secure off-market deals, I'm all ears.

[Anthony Blanco]

@Jonathan Greene Thanks for the insight. Real estate prospecting software is entirely new to me, so I appreciate all the information. I've compared the prices to Pipedrive and other software I've used in my current profession, and it's been enlightening.

I'm targeting property owners with high equity who have held their property for 15-20 years or more, and ideally with some kind of lien or code violation attached.

I've heard that direct mail campaigns can be very effective, though I find that cold calling has always worked best for me in my line of work. It's interesting to see how these different methods might apply in a real estate context.

[Gustavo Munoz Castro]

Getting a quality list is the GAME. Don't skimp on a good list, it will make everything else more effective (calling time, mailers, etc). You can maybe save some cash and just get a single line virtual dialer like Vonage Business or Ring Central (look for month to month only), you don't need a massive power dialer right off the bat (another $150-$250 per month). 

[Mitul Gandhi]

@Anthony Blanco I am in the same boat as you. Trying to start an off market deal pipeline and confused about how to boost strapping 

pulling a list, skip tracing, and calling 

[Tim Ryan]

What is the strategy? Wholesale the properties you find? Flip them? Buy and hold?  My strategy (and I've bought many off-market deals) is getting those deals from the locals. Realtors, contractors, escrow agents, insurance, etc. Get connected like @Nicholas L. said.  Btw, I've bought many properties On-market also. You need to be quick and (again) have connections.