High Conversion, Low Volume Deal Acquisition/Marketing Strategies

San Antonio, Texas
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High Conversion, Low Volume Deal Acquisition/Marketing Strategies

Lawrence Rutkowski
San Antonio, TX · Member since 2013 · 87 posts · 42 votes

I am getting back into active real estate investing again after about 1.5-2 years more or less off, outside of a handful of realtor transactions.

I'm looking to start back up slowly. I remember when I FIRST started years ago, I had a good response rate with hand written letters and personal texts to leads I found driving for dollars. I'm not trying to get a bulk list and blast 1000s or addresses off the bat. I also feel like people were getting cold call and postcard fatigue. The MLS is albeit a pointless avenue at this point.

What are those of you that are getting your off market deals doing these days? 

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Andrew Bang
Lender · Texas; Arizona · Member since 2019 · 276 posts · 282 votes
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Letters and postcards still work,  people still call them.  I find hanging door flyers gives me the most leads and the most angry homeowners.

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  • Andrew Bang
    Lender · Texas; Arizona · Member since 2019 · 276 posts · 282 votes
    4y

    Letters and postcards still work,  people still call them.  I find hanging door flyers gives me the most leads and the most angry homeowners.

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  • Victor SteffenBusiness Member
    Investor · Austin, TX · Member since 2017 · 352 posts · 374 votes
    4y

    @Lawrence Rutkowski the bulk of our off market deals have come via targeted strategies rather than a shotgun approach. Tactically it looks like this: Identify a specific asset type (we were looking for 5+ bed, 3+ bath, 2500+ sqft, no HOA, corner lot homes in specific zip codes). Look for those assets on the MLS which sold greater than 24 months ago. Reach out to the agent that represented the buying party (they are now the current owners) with an offer to present to their past client.


    A few reasons this works 1) the buyer's agent info is easily accessible and most respond to text within a few minutes. 2) The buyer's agent is a warm entry point and the offer is typically given more serious consideration. 3) The buyer's agent is given an excuse to re-engage a past client so there's a very high likelihood your offer gets into the right hands- this is especially valuable when the buying entity is obscured via LLCs which makes finding reliable phone numbers more difficult.

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  • Jonathan BombaciBusiness Member
    Real Estate Agent · Lowell, MA · Member since 2019 · 1k+ posts · 1k+ votes
    4y

    We still use “cold calling” and its the most efficient way to find out if you can buy a property you want at a price that makes sense. That being said we don’t call 1000 people a day. We have very finite lists of buildings that we have interest in and the calls are very pointed but personal. We here a lot “No” or “we’re looking to buy more ourselves not sell” but we start a conversation and try to follow up a few months later. Eventually they’ll sell and at that point the goal is to no longer be a cold call since we’ve been talking to them for so long. 

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  • Anissa Olivares
    San Antonio, TX · Member since 2021 · 25 posts · 10 votes
    4y
    Quote from @Lawrence Rutkowski:

    I am getting back into active real estate investing again after about 1.5-2 years more or less off, outside of a handful of realtor transactions.

    I'm looking to start back up slowly. I remember when I FIRST started years ago, I had a good response rate with hand written letters and personal texts to leads I found driving for dollars. I'm not trying to get a bulk list and blast 1000s or addresses off the bat. I also feel like people were getting cold call and postcard fatigue. The MLS is albeit a pointless avenue at this point.

    What are those of you that are getting your off market deals doing these days? 


     Hi Lawrence! Maybe having someone do the legwork for you is an option. There are companies out there like the one I work for provide off market deals. This takes away the "driving for dollars", mailing and cold calling. 

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  • Scott Bottomley
    Member since 2021 · 19 posts · 12 votes
    4y

    @Victor Steffen

    Fascinating. So you’re offering on homes with no signs of motivation just being they meet your buying criteria? What’s your conversions like and are you getting these homes at discounts or retail?

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  • Victor SteffenBusiness Member
    Investor · Austin, TX · Member since 2017 · 352 posts · 374 votes
    4y

    @Scott Bottomley - one small correction- I'm not offering on the homes out of the gate but I am reaching out with no prior signs of motivation other than the home meeting my buying criteria. We work the same strategy for our clients as well if they have a specific buy box. 

    Regarding conversion- I might message 50 different realtors over the course of a week for a specific asset type and would be very surprised if we didn't close 1 or 2. 

    We are paying appraised value for everything- most of these units are turnkey. 

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