What are the most effective ways to get new investment deals?

[Jay Berube]

Hello, BiggerPockets! We are trying to identify new ways to generate new investment deals in the current market. I own a property management company with 5 other partners. We have been in this business for many years and know and tried most of the standard strategies employed to get new doors: Google Ads, mail campaigns (letters or postcards), targeted lists, etc. I would like to know what methods are you using to get more doors? Do you have “bird dogs” looking for them, do you put up signs, do you have a salesperson who’s just making calls? Any suggestions are greatly appreciated!

[Dennis Wayne]

@Jay Berube

Nothing works better than direct mail if it’s done right

[Jay Berube]

Thanks, @Dennis Wayne! Can you share your thoughts on some of your most successful campaigns? 

[Justin Reed]

Hey @Jay Berube - I agree with Dennis - direct mail is the way to go.

I'm direct mail acquisition machine. I pull assessor data (with a direct link) of the type of properties in the areas I want and send ALL the property owners an offer. I scrub the list to remove things like properties with a mortgage, duplicates, etc. and spend a tremendous amount of time on pricing, because although these offers may be a lot less than retail, they are not out of the question. I explain in my offer letter to sellers that I am a serious investor, not and agent/broker, I pay cash, and are prepared to close as soon as x days.

Then I sit back and wait for the motivated sellers to call us. You can of course edit this model to fit how exactly you plan on purchasing and what specific property type you are looking for. Believe me - it works like a charm. That is how I GET THERE FIRST. By the time a deal reaches the MLS or a lead source, someone else has already beat you to it. Also, knocking on doors (aka "driving for dollars") is an outdated way of doing this and honestly isn't worth your time. It's no longer about possible subject to leads - we now have DATA and computers and direct mail to get there first. Please feel free to reach out to me if you have any additional questions - I would love to help!