August 3, 2010
Find Wholesaling Leads
Marketing is an important element for success in any real estate investment. In wholesaling property it’s essential for bringing in leads and selling property. It’s very difficult to find enough homeowners looking to sell property without marketing. You can’t exactly go door-to-door asking people if they are selling. Plus, looking up properties in the county courthouse will only let you know which homeowners are in debt and in foreclosure. Not which ones are looking to sell their homes.
House Flipping Basics: Marketing
So, you need to draw the homeowners to you with marketing and advertising. This isn’t as difficult as it sounds. Marketing your wholesale business can be as simple as putting up a few handwritten signs in the area where you’re looking for wholesaling property. Or it can be as quick as placing an ad in the local newspaper.
Bandit Signs
A lot of real estate investors use bandit signs to advertise houses for sale, but you can also use them to advertise your wholesaling business. You should ideally place these signs everywhere you can in your area.
Signs are the easiest and most visible marketing tool you can use. Make sure that your signs are simple, with bold print or bold dark handwriting on them.
You can simply state, ‘I buy cheap real estate’ on your bandit signs, along with your phone number or even website. Or you can also write, ‘Will Pay Cash for Any House’ on your signs. These are great and simple ways of drawing in house flipping leads.
Flyers
In addition, you can use your word processing program to create a simple flyer with tear off strips at the bottom containing your contact information.
Blanket your area with these flyers. Place them in laundry mats, on telephone poles and even ask local businesses if you can place a pile of them on their check out counter. A great place to see if you can leave a bunch of flyers is the local library. They’ll often have a bulletin board for these kinds of items.
Classified Ads
Another option is to place a simple classified ad in the local newspapers. Place your ad in the papers, the local shoppers and even in local real estate magazines.
The wording for these ads is the same as above. Tell them ‘I buy houses!’ and provide your contact information.
Networking
You can also bring in wholesaling property leads by getting people to work for you! A network is very easy to build up and usually starts by talking shop with other local real estate types. You can contact all kinds of investors and people involved with real estate to let them know you are buying homes.
Local Real Estate Clubs
Contact and join these local clubs. It’s a great way to meet like-minded people, educate yourself and find both buyers and sellers.
Realtors
There are plenty of realtors and they usually specialize in different kinds of property, including foreclosures. Make contact with a few realtors and let them know that you are looking to buy some cheaper houses that they wouldn’t normally be able to place on the market. You might be surprised what they have on hand.
Landlords
Landlords are a great resource for both selling property and buying property. Give them your card, tell them you’ve got properties on hand for cheap and that you are always looking to buy properties too.
Local Attorneys
Attorneys are involved in all kinds of real estate from foreclosures to inherited properties. Let them know that you are looking to buy unwanted homes. The attorneys may have clients who are looking to sell off some property on the cheap.
Finding wholesaling leads is a cinch once you get started. All you need is the proper advertising and a good network to bring the leads to you. It may take you a little while to get the leads started coming in, but remain optimistic and persistent and you’ll find more work than you can handle.
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Filed under Acquisitions, Marketing, Team, Wholesaling by mattmiller
Comments on Find Wholesaling Leads »
We are always very careful about retrieving our bandit signs, however we recently got hit with a $3,000 fine for putting up bandit signs in the Antelope Valley.
I suggest that everyone look up local laws regarding outdoor advertising before posting bandit signs.
I ususally watch mlsfor "days on the market" and "price drops". These properties sitting for a while and with multiple drops can often be picked up at wholesale.
An effective business marketing strategy is bolstered by exposing your target audience to your name and your selling points (unique selling proposition) as often as possible (frequency), in as many ways as possible, and as cost-effectively as possible. Although Facebook marketing and Twitter marketing can be effective tools for attracting customers, building brand recognition, and staying in touch with clients, Email marketing remains one of the best strategies for keeping your name and marketing message in front of customers and prospective clients.
Bandit sign are prohibited in many of the areas around where I live. Check local ordinances around where you live before posting these type of signs.
I've also seen a lot of advertisements in Craigslist. It's free and easy to post.
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