All Forum Posts by: Nettles Mason

The county is the original source. If county is wrong so is every other source

@Alex Mikhals They are better for house data.  Ive had poor results with phone data. You would be better off using a skip trace company 

@Jason Coyle   Larger investor and I Buyers are taking market share in markets all over the country.  see second link to see tech tools being used

Recently I have become infatuated with data and how it can be used. I started a couple threads trying to get discussions about the market or better yet how to compete in the future of REI.

The thread I started about Tarrant County was for other tech guys to collaborate but would like any feedback. I don't know if my topic is too techie or tin foil hat. I think its the 2 ton elephant in the room.

Technology is changing in the real estate industry. CRM's, Websites, RVM's, Text, Email, DM, PPC and Call Centers have helped small business owners to explode. Most investors added 1 or all of these "Tools" over the past couple years. 

@Jason Coyle Sorry, I started to answer your question "Dallas/Fort Worth REI. What happened?" - with my $.02 ...and got sidetracked. I am more intrigued with HOW the I Buyers got in touch with the seller and bought that many houses!

What is the end result- They adapted! Again-How? I doubt they even buy from wholesalers.

What are they doing that is better or different? (previous post)

Serious Question- If "I Buyers" continue to grow and decide to operate at a loss for the next 5 years to gain market share what do you (subjective you or traditional buyers) do for deals? 

Please remember marketing cost per deal has also gone up. When I Buyers enter a market and start taking inventory the Wholesaler has to either spend more money to find deals or gets less deals per $ spent.

One example:

Look at the cost of PPC for "we buy houses Dallas" . Google does not set price per click. It is a real time auction when seller types. Your local market bids on this real time.  (pulse- how competitive a market is)

In the good old days you buy a motivated marketing list, mail a letter and were the only investor talking to the seller.

Today, you buy the same motivated marketing list as every other investor/wholesaler and send Direct Mail. Seller has received 20 text, voice drops and multiple offers before your letter gets to them.

Speed, technology and response time are changing the industry. It is here to stay.

Do you think the "I Buyers" are using the same 6 month old motivated seller list that are being white labeled and sold to the masses? 

  I started a huge project of tracking 500k properties in Tarrant County and all court records (pain points). If an owner has a court problem they are identified instantly. 

Another example: real time data vs static list

If you collect leads with a website and contact the lead in 5 minutes your conversions will be good right? If you contact the same leads 6 months later...most will have sold. You may get a conversion but your close rate will be less.

Nobody seems to believe it is happening or want to contribute to my thread. Please look it up and give some feedback.

Real time data is going to be the future of real estate. I Buyers have figured out how to use it and are a head of the traditional investor.

Technology is changing in the real estate industry. CRM's, Websites, RVM's, Text, Email, DM, PPC and Call Centers have helped small business owners to explode. Most investors added 1 or all of these "Tools" over the past couple years. 

Big players like Next Door, Zillow  (possibly Facebook)  took notice of this lucrative opportunity and are making a grab for market share.

What can we learn from these giants? 

What are they using that could be implemented or adapted  to make a small company more efficient?

Besides the deep pockets, Big Data with Artificial Intelligence gives them Data.  Data is King or the new currency and I bet it's more robust than a 6 month old Absentee List.

How are you adding AI or Big Data to your business? 

@Tino Hearn I have not seen their Webinar or any of PIN products. 

Every investor wants/needs leads but white labeling other systems is not the idea I'm going for. If you purchased their system you must have seen something you liked. What was it?

I started a thread on BP to try and get other investors to come up with ideas that deliver rather than just late night tv hype.  Could you or any other person on this thread pitch in your ideas of  "what the perfect system Should do!" 

Feedback or wants would be awesome Dynamic Data

You could buy absentee owner information from listsource, compare owner mailing address to property address in either mls or county data to get a list of landlords 

@Jerryll Noorden Man... I love your passion!

I agree, List have flaws. Age of list is #1- If you call your web leads 6 months after they fill out form your conversion would be way less than calling them 5 minutes after submission. (same w/ list follow up works)

Why? Most will sell their house, someone solved their problem, they fixed the problem themselves. Will you still get deals? Sure, but at a lower conversion rate than when they first came in. (6 month old list vs fresh list)

Contacting the seller when they are ready is something websites have a huge advantage over traditional "OLD" lists. You can target tired landlord, vacant house, inherited house, divorce, job transfer, money problems with SEO.

I compare list to Adwords. There are 2000 keywords/phrase in a broad campaign. Why not just use 1 exact match keyword. Your cost would be less?  Broad campaigns produce deals. They may not be as targeted but they produce. 

List are static. The day you buy them they start diminishing in value. People sell houses, fill vacant or get over their problems. How do we create dynamic list?

My idea is to combine all court house cases daily  (divorce, probate, eviction, liens ) and drive them to a converting website or answering service.

Its a way to improve "list" problems by updating/housing/combining historical pain points and current problems we can convert list into real time data. 

I started a thread on Dyanamic data  and would really like your feedback on how to make it better by pointing out all the flaws. LOL I expected with all the knowledge and passion on this site for positive comments to pile up...but I will settle for flaws too!

@Jerryll Noorden The same reason most people don't put all their eggs into one basket.

1. A website is 1 avenue for lead generation. If Google decides one day to delete your site or change their Algorithm you have no say so.

2. Once saturated (you get #1) how do you increase # leads? Most people add another marking avenue. PPC, Facebook, direct mail, RVM, Text campaigns -  They all use list or data in one form or another to target sellers.  

3. Time! How long would it take you to rank #1 in Houston or Dallas? What do you do for leads while you are waiting a year to get near page one?

4. Is a website scalable? (common investor operating virtually) Yesterdays strategies are not guaranteed to be as effective in the future. 

I spoke to an investor yesterday that purchased a proprietary SEO package for $50k. I was dumbfounded. I held page 1 listings in 50 different cities across the east coast and generated thousands of organic and never heard of anyone spending that kind of money. 

Im not going to go into negative SEO or how sole strategies are to tank any site above them. Google is the 800 lbs gorilla that controls your websites lead gen destiny. 

 Websites are great...I think every investor should have one. But, to enter a new competitive market takes time or money or both.  Investors are outsourcing website templates, SEO, PPC, cold calling, lead generation, answering services and list management to full time  companies so they have time to work on real estate. 

My favorite developer quote "Just because You can not do it does not mean it can't be done!" 

The future is data. Data is king. I see lists as data