Gary Boomershine has been active in the field of real estate since 1987. In this interview Gary shares some of the marketing tips to help you identify and secure properties that may not even be on the market. Gary is a real estate investor and runs a marketing company to help other real estate investors REIvault.
The market right now is set up that you have to contact sellers, people who own their home and live in their home. The foreclosures and bank owned properties are not as plentiful as they were, so you need to switch strategy. He recommends cold calling as one of the most profitable and effective means of drumming up interest and leads. The goal of the real estate market right now is to find good deals that aren’t necessarily selling.
Tips for Lead generation for real estate investors:
Direct Mail –
Like lots of marketing you start with direct mail. You need to pick the mail house and purchase a list. You should not be the one stuffing envelopes, you should be in front of or talking with the pre-screened interested parties that are ready to deal.
Mail that looks like it was mailed locally out performs other mail. The best day to mail is Thursday. Your mail must be personalized.
Not all mailing lists are equal. Look for lists that have absentee owners. These are owners of properties that have been inherited and have held on to the property for a minimum of 10 years. One out of every 10 properties in America fits these criteria, which means these houses have no mortgage or a low mortgage. You will probably need to start with a big list and then remove people that don’t fit your search criteria.
- Absentee Owner
- Number of Years Owned (the larger the better)
- Number of Cash Buyers by Zip Code (the larger the better)
Man the Phones –
Follow up phone calls are done on Tuesday or Wednesday the following week. You need to add a phone call after the direct mail piece.
You need to be set up to receive in-bound calls. Most interested homeowners will call you between 5 and 9 pm in the evening. Makes sense they are off work and at home. A real person needs to pick up the phone and know enough to talk to these prospects.
Schedule Appointments –
Find 3 or 4 people interested in selling NOW and get in front of those people.
- Find the List
- Send Direct Mail
- Acquire Good leads
- Set Appointments
- Get Contracts
- Close Deals
Overall, the most important thing is to stay aggressive and to stay diligent and on top of things.
Gary Boomershine’s REIvault can do some of the heavy lifting in real estate lead generation for you. #Ironclad
- 1Marketing costs money but is necessary to identify sellers.
- 2Best prospects are landlords and people who have inherited property.
- 3You can often save time and money by joining an organization that will do the marketing for you.