Contacting professionals for leads?

[Kevin Cardinale]

So I'm watching this guy's video and he is making a whole lot of sense[tm]. He's saying, instead of going to some horrible site and sending out a bajillion spam emails to people who have no need to sell their home, go to professionals, i.e. lawyers, financial advisors etc and ask them to refer their clients to you.

The making a whole lot of sense[tm] part comes in, what professionals he's targeting.

foreclosure attorneys
real estate attorneys
divorce attorney
bankruptcy attorney
probate attorney
loan officer
homeowner associations

All of these professionals will be dealing with people that will be motivated to sell and sell quickly, along with the professional in question might motivate them to sell, i.e. to get paid :lol:

The question is how on earth do you contact these professionals and get them motivated to send you their motivated clients?

Do I just have lunch everyday with a different set of attorneys, my treat[tm]?

[Don Konipol]

The few professionals that will bother to "work" these sources are looking for more than a few hundred dollars referral fees. Let's take my attorney for example. He's able to provide me with 3 or 4 great deals per year. And in return he gets the legal business of my 2 investment funds (prox $60,000 per year in legal fees), the right to participate in these deals as an investor, and fees for drawing all legal docs of our purchase, sale, and lending transaction (prox ($20,000.00 legal fees). So is he going to be motivated to send a great deal to a novice investor without the resources to complete the deal for the promise of a $300 referral fee?

Mostly all the professional (lawyers, accountants, etc.) who ply their trade in real estate, probate, etc, know or quickly learn who the experienced, well funded players are. The problem with this particular guru's recommendation is the presumption that money, track record and knowledge account for little; that anyone can use this "unique" system. Similar to the gurus that claim foreclosure sales are a little known method of picking up bargains. Truth is that while all these methods can be highly profitable, they are also well used by experienced, knowledgable and well funded players.

I am always amazed that people who realize they are not financially, knowlegably, or skilled wise qualified to run a small business think they can run a real estate business. These "noobies" will need to go to work for someone already in the real estate "business", hopefully acquire knowledge, skills and make contacts with the "money" investors. After moving up the ladder, creating a track record as an employee, some may be able to make the move to going out on their own.