How Can I Handle Out-Of-Market / National Motivated Seller Leads?

[Lucas Machado]

Hello BP Community,

Currently, I am generating approximately 10 to 20 out-of-market motivated real estate seller leads per week (truly motivated - as they directly reach out me via website). Mixture of houses, condos, vacant lands, apartment buildings. Like any leads, some are better than others. Based on my usual experience, a reasonably good investor would be able to close a deal every 10 to 25 off-market leads.

I am only set to function in Florida - whether that be fix-and-flips, wholesales, rentals, or listings.

Currently, I am literally just ignoring this leads. I don't bother calling them back if they contact me online and just tell them sorry I can't work in other areas if they call on the phone. I don't have the band with to do another 2 deals per month out-of-market when I already am working 10-deals in various stages of inspection, closing, rehabbing, or managing the re-sale.

What should I do to capitalize on these leads? I'm open to any and all creative ideas . . . here is what I'm considering:

(1) Selling Exclusive Off-Market Leads. When I've looked at this topic in the past (when approached about buying), leads were selling for about $150.00. I'd probably be open to sell off-market leads for only $75.00 as I literally do no monetization currently. No funny business - I'd guarantee a full refund for any leads that were on MLS or websites within the last 12-months. As far as it being "exclusive", I'd have no intention of it not being exclusive (though not exactly sure how I could "guarantee" as it's always possible they reached out to a few investors, might just have to be on my good faith).

(2) Remote Wholesaling. Another approach that seems logical would be doing a remote wholesale. It'd be easy enough for me to look up comps, estimate repairs, and get the contract signed. What would I do at that point? Is there anyone that's set up to already do remote wholesales type deals? I'd gladly go 50/50 if I bring the deal you bring the system. Again, no idea how that would work, open to speak with someone and get anyone thoughts here.

(3) Remote Flips & Rentals. I don't think I'd be willing to do out-of-state (I'm in Florida, so my state is already huge) - but is there any type of business, investor, or whatever, that works on a large scale buying rentals and/or flips that I could either joint-venture with in some fashion (perhaps I'd get 25% for providing the deal, and you'd get 75% for bringing funding/management). The other thing to is, I just don't think I'd be able to generate the financing.

I think the other complexity here is that I don't get so many off-market national leads at this time that it'd be worth it to start my own lead selling or remote wholesale or fix-and-flip. So I think an idea strategy would ultimately be some kind of partnership where a person already sort of us does these things an I can pass along my leads/deals through some agreed upon mechanism.

I also get that - it may be different solutions for houses/condos, vacant lands, and apartments.

Open to all thoughts, ideas, suggestions!

[Ross Denman]

Reach out to property management companies in that area to see if they have any clients who may be looking to buy. They will be equipped to help with the due diligence and evaluations. Either hand it off for a bird-dog fee or some kind of joint assignment at closing. Be careful to keep control of the deal so that it doesn't get poached though.

Once you start building a network in various markets, you can wholesale anywhere. I purchased my last investment property (Indianapolis) from a wholesaler in Salt Lake City.