How are you generating leads during covid?

[Connor Gill]

Hello, making my first post here because I've found myself in an odd position. I recently began my real estate venture over the summer by wholesaling. I'm having troubles with consistency on closing deals(generating deals), my only leads have come from bandit signs, which is nice, but my other active way of generating leads is cold calling. 

Of course I'd assume my consistency would increase if I cold called every day... so I first generated a 1300 long list based on 50%+ equity using Listsource. Even reaching out multiple times through the week. That list has yet to generate a lead.

Now, I decided that equity is probably not the best route, so I did what anyone else would do. Switch up the niche. I first looked to build a probate list, however the local probate division office here in Lexington is closed from viewing. And I'm limited to mailing them and acquiring only specific case numbers. So dead end.

My next step was pre-foreclosures... I called the county clerks office who directed me to the master commissioner site. After speaking with the staff, I come to find out that they do not keep records of pre-foreclosures. (I find this almost impossible to believe) But needless to say have found myself in a cul-de-sac. If anyone has tips on how they are acquiring probate address during this trying time, please leave a message, or if anyone has a tactic on getting pre-foreclosure lists. I've read on here to try property radar and propstream. So I'll this topic updated if I discover anything that helps.

Thank you and best of luck to all.

[Aaron Norris]

I think many investors are going to be disappointed in foreclosures not being a strong strategy. I follow the preforeclosure stats and states just aren't allowing them to proceed. Most politicians are not interested in a mass wave of residential foreclosures. Expect more federal aid under the new administration.

When it comes to using any site like PropertyRadar, PropStream, or any service that helps you create marketing lists, if you don't have your niche down you will likely waste a lot of money. Example, if you take a zip code and you're just talking to owners with equity, it's very broad and very expensive. You can get that from your local title rep but chances are you'll blow your marketing dollar on one huge mailer and never have a budget for follow up. 

A better approach is starting smaller and getting far more granular. Find a niche! Then, really back into that niche with the data to connect to a highly defined target. Keep in mind, some of us are actively up against Wall Street companies like Opendoor investing a ton in direct mail and PPC. Other ibuyers like Zillow and Redfin already enjoy consumer traffic so their "buy now" option is less expensive from an acquisition standpoint. We investors have to get savvier moving forward as we compete with these new brands that are driving up costs. Direct mail they can't increase prices on! 

In my experience, people just don't know the different data sets available around people, property, and mortgages that can be layered. Some people call it "list stacking" when in actuality, it's just creating a great list from the start. Some examples of data sets you can layer:

Property:

• Property age - used to target older properties for heavier fixers
• Property types - SFR, MFR, 5+, all kinds of commercial
• Size - adding on to the existing structure to add value or accessory dwelling units 
• Location - highly desirable neighborhoods or locations of expertise around specific builds or neighborhood 
• Zoning
• Vacant properties
• Owner-occupied vs. nonowner occupied

People

• Age of owners
• Kids in home
• Sex of owner
• Income
• Net worth
• Interests

Mortgage

• Transfer dates
• Estimated equity
• Different transfer types
• Foreclosure activity (NODs, auction sale notices, etc)

Then, hopefully, you're taking out people who purchased recently since (probably a waste of marketing dollars), people in foreclosure (different strategy), sites that are listed as vacant. That will save you a few dollars. 

You know your style best. I know some investors that don't bother with websites, SEO, or even direct mail. They do nothing but direct calls. I know other investors who go hard on SEO and website lead generation. Others are direct mail marketing experts and do seven different styles of mailers. 

Bring you to the party. Find a niche you can be passionate about. Back into the data. That will be the fastest way to get success.