How are you generating leads during covid?

Question

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 · Answer

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 fixersProperty types - SFR, MFR, 5+, all kinds of commercialSize - 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 ZoningVacant propertiesOwner-occupied vs. nonowner occupied People Age of ownersKids in homeSex of ownerIncomeNet worthInterests Mortgage Transfer datesEstimated equityDifferent transfer typesForeclosure 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.

Jerryll Noorden · Answer

That is the way the business goes... if you are like ALL the other investoes out there.Do you think COVID had any impact on us? Absolutely.. haaa..But lookie here...Still getting a ton of free highhly motivated leads on autopilot like clock work.How why?well..It doesn't matter!!If there is a Google, and there are people on Google, and people are in dire need to sell.. I will ALWAYS get free leads.Stop following what everyone else says. Cold calling? Are you friggin in sane? Door knocking DMM.. Do you think I have time for that crap?No thanks.Let THEM look for me and find me and ask me to please buy their house.All you have to do is think on your own, do not follow the cold claling DMM doorknocking fads.They suck monkey butt!Get yourself a website, make it credible, work on your SEO, while that is on going, do facebook ads, or PPC..Make money RIGHT NOW!!You know how people say.. "Ohh you don't get rich overnight"?Well I spit in their faces. We pretty much made 6 figures overnight, it is easy if you simply know the numbers, you are smart and you understand marketing and thus your sellers.Proof?Here you goes!Covid, Earthquakes, Stupid presidents bucking the poop out of me.. don't matter. There are ALWAYS leads out there. And yes it is HARD to find them... so we let them find us. That is WAY easier.

Kami Ellies · Answer

@jerryllnoorden so your free leads are generated from a well built seo website. Do you suggest any particular service? I just started lead generation with Facebook ads. Cold calling has been rough. I don’t want to give up.

Joseph Back · Answer

@Connor Gill Are you in Lexington, KY. If so, I am a wholesaler there as well and would love to connect. We market to a number of the niche lists you mentioned they are just somewhat hard to find.

Jonathan Martin · Answer

@Connor Gill Sounds good. If you have any other questions feel free to reach out.

Connor Gill · Answer

@Jonathan Martin Thank you very much! Just got a subscription to propstream, I'll spend the week giving it a go, so far I like it. And Yes I failed to mention D4D. I set a goal of 30 addresses per week day building a list. I did generate 1 lead from that list but was not a motivated enough seller. Was never able to make an appointment with them.

Connor Gill · Answer

@Caleb Brown Thank you for your helpful insight, I'll take a peek at adding SMS to my strategies. I start off with an introduction('I'm a cash buyer', 'investor'), mentioning I drove by their property or their street. This is where 90% say no and decline, which prompts the 'well do you have any other properties you'd be willing to sell'.

Jonathan Martin · Answer

@Connor Gill I know it can be discouraging but that's the way this business goes. But you have to keep pushing. I use Propstream to create list. Have you considered direct marketing or D4D?

Caleb Brown · Answer

I personally cold call/text and that works well for me. No I am not a wholesale but an agent that brings off market deals to my clients. What are you saying when speaking with the owners?