The first thing you absolutely must keep in mind, is that the best way to capture the most amount of leads, is to cast a wide net. The worst thing you could possibly do is to rely on only one source of getting leads. By using many different avenues, a deal will trickle in here and there, and you will have a much larger variety of deals to choose from.
Marketing is the key to this business. It not only allows your phone to keep ringing, it also keeps you from getting too emotional, and taking bad deals because you're desperate. In this article I plan to show you 5 proven ways to get deals, so that you can have a consistent stream of calls pouring in on a regular basis.
#1 - Broker Relationships
The best way to get deals is to get brokers sending you them regularly. They are the gatekeepers. They get the properties from the banks that are being foreclosed on a regular basis. They also talk frequently with sellers that are in distressed situations. Brokers also get what they call "pocket listings", which are simply listings they keep in their pocket. The most valuable person you can have on your side, when looking for deals, is a broker.
The key to getting in good with brokers is to find some type of commonality between you and them. Call up some of the "movers and shakers" you see around the areas and offer to take them to lunch. If things go right, you never know what could happen, just like dating! This entire business is based around relationships, so do yourself a favor and get to know your local brokers! (at least the successful ones)
#2 - Direct Mail
This is an old school method, but let me tell you, when done right it works great! You want to be sending out letters to connect with people who are in distressed situations, and in first time home buyer neighborhoods. You're not going to be going out chasing mansions, and you definitely don't want to be finding deals in ghettos either. Direct mail may cost a little bit of money, but just one deal will easily cover those costs, and then some!
Another little secret to running direct mail campaigns is to target prospects using the obituaries. Really? The obituaries? Yes, this one might sound a little weird, and it may creep you out a little. But trust me, the obituaries is a great place to get good responses and I'll tell you why.
The first thing that happens when someone passes, is that all the relatives usually come together. Some may live in the area, but a lot of them come from out of state. When they come from out of state, they typically are looking to sell the property immediately. In most cases, the decision to sell the property fast is the first thing on their list. Many investors don't even think about this option when it comes to getting deals, so it's just another way to keep you ahead of everyone else.
#3 - Signs
Yes there is no better type of advertisement than dozens of signs saying "We Buy Houses for Cash - Your Number Here". Put your signs on poles, and get the coreplast signs you can stick into the ground. Arrange them so that people see them who are on their way to Home Depot or Lowes. These are the places that people go when they are fixing up their homes to sell them.
You would be surprised at the amount of calls you can get from people calling you just off of your sign. You can place them off major intersections, or entering on to highways. Really, anywhere there is high amounts of traffic works very well!
These are just a few of the best ways there are to get a stream of good leads coming in. Once you get your advertising going well, you're pretty much in business! The key is that once you start.. Don't stop! A good majority of investors stop advertising once a few leads come in. Don't make that mistake, and you will be well on your way to becoming a fix-and-flip real estate investor!
Last quick tip, you can use a private money lender to finance your deals. While then inrerest rate is a little higher than banks do, you don't have to qualify for the loan. It is based on the valuse of the home.
Visit here to know more about Phoenix hard money lender
Marketing is the key to this business. It not only allows your phone to keep ringing, it also keeps you from getting too emotional, and taking bad deals because you're desperate. In this article I plan to show you 5 proven ways to get deals, so that you can have a consistent stream of calls pouring in on a regular basis.
#1 - Broker Relationships
The best way to get deals is to get brokers sending you them regularly. They are the gatekeepers. They get the properties from the banks that are being foreclosed on a regular basis. They also talk frequently with sellers that are in distressed situations. Brokers also get what they call "pocket listings", which are simply listings they keep in their pocket. The most valuable person you can have on your side, when looking for deals, is a broker.
The key to getting in good with brokers is to find some type of commonality between you and them. Call up some of the "movers and shakers" you see around the areas and offer to take them to lunch. If things go right, you never know what could happen, just like dating! This entire business is based around relationships, so do yourself a favor and get to know your local brokers! (at least the successful ones)
#2 - Direct Mail
This is an old school method, but let me tell you, when done right it works great! You want to be sending out letters to connect with people who are in distressed situations, and in first time home buyer neighborhoods. You're not going to be going out chasing mansions, and you definitely don't want to be finding deals in ghettos either. Direct mail may cost a little bit of money, but just one deal will easily cover those costs, and then some!
Another little secret to running direct mail campaigns is to target prospects using the obituaries. Really? The obituaries? Yes, this one might sound a little weird, and it may creep you out a little. But trust me, the obituaries is a great place to get good responses and I'll tell you why.
The first thing that happens when someone passes, is that all the relatives usually come together. Some may live in the area, but a lot of them come from out of state. When they come from out of state, they typically are looking to sell the property immediately. In most cases, the decision to sell the property fast is the first thing on their list. Many investors don't even think about this option when it comes to getting deals, so it's just another way to keep you ahead of everyone else.
#3 - Signs
Yes there is no better type of advertisement than dozens of signs saying "We Buy Houses for Cash - Your Number Here". Put your signs on poles, and get the coreplast signs you can stick into the ground. Arrange them so that people see them who are on their way to Home Depot or Lowes. These are the places that people go when they are fixing up their homes to sell them.
You would be surprised at the amount of calls you can get from people calling you just off of your sign. You can place them off major intersections, or entering on to highways. Really, anywhere there is high amounts of traffic works very well!
These are just a few of the best ways there are to get a stream of good leads coming in. Once you get your advertising going well, you're pretty much in business! The key is that once you start.. Don't stop! A good majority of investors stop advertising once a few leads come in. Don't make that mistake, and you will be well on your way to becoming a fix-and-flip real estate investor!
Last quick tip, you can use a private money lender to finance your deals. While then inrerest rate is a little higher than banks do, you don't have to qualify for the loan. It is based on the valuse of the home.
Visit here to know more about Phoenix hard money lender
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