The best list criteria from Listsource
If you have done any marketing, you have wondered what’s the best list criteria I should use to target best motivated sellers. I wanted to share what we have been using and what’s working for us:
Please note in the above status, I have highlighted the Unknown Equity. There are tons of deals in Unknown Equity. If you are not targeting that list, you are missing out on some really good leads.
Unknown Equity are records where Listsource doesn’t have the accurate data about Equity. Now some of these will be with less than 30% Equity, but most of these sellers have equity and not everyone in your market is targeting these sellers so if you add them to your list, you will be targeting some quality motivated sellers.
Here’s a quick video on how to pull the list:
Now, once you have this list pulled together, this is what I would do:
I would Skip Trace this list and get their cell phone and landlines numbers. This is the company we use for Skip Tracing:
You can use this discount code “REsimpli” to get discounted pricing.
They have over 80% hit rate and you only pay for records that you get back.
Now that you have the records Skip Traced, you want to target the sellers via RVM, SMS Blast and Direct Mail.
RVM and SMS is so cheap that your ROI for any deals that you get will be astronomical.
This is the company we use for RVM:
This is built by an investor and they can do drops to both cellphones and landlines. I would do RVMs once every 6 weeks or so.
We are developing our own service for SMS blast which we will be launching soon but that’s what we use for SMS. I would do SMS once every quarter.
The challenge with RVM and SMS is that there is some talk about making it illegal to do marketing via these channels so I don’t think these are long-term sustainable and can be very intrusive to a seller and can end up pissing a truly motivated seller.
In order to avoid the above challenges with RVM and SMS, I would also do Direct Mail because different sellers will respond to different mediums. Not everyone will respond well to RVM and SMS. Some of the older sellers are still receptive to a good written piece of Direct Mail and if you want to have a consistent deal flow, Direct Mail will keep that flowing for you.
For Direct Mail, I would mail the sellers once every 6 weeks and switch between postcards and letters.
So that’s what I use in my business to generate leads. What are you guys doing to generate consistent leads?
REsimpli is founded by Sharad Mehta, a very active real estate investor. Sharad has done over 400 deals in last 6 years since he became a full-time real estate investor and over the years he has developed systems to automate many parts of his real estate investing. Sharad is a very active investor i See more >>
REsimpli is founded by Sharad Mehta, a very active real estate investor. Sharad has done over 400 deals in last 6 years since he became a full-time real estate investor and over the years he has developed systems to automate many parts of his real estate investing. Sharad is a very active investor in Lake County, Indiana market and he manages his entire business from Carlsbad, California, where he lives. Using the systems that Sharad has developed, he is able to manage 3-4 rehabs a month from a distance.
At reSimpli, our mission is to ‘Simplify Real Estate Investing Through Technology.’ Our team is passionate about using technology to reduce the time and energy required to build and manage a successful real estate business. reSimpli is a cloud-based system that makes real estate investing more efficient by automating tasks and helping the investor manage their business more efficiently.
We are constantly building and improving features that aid in: creating accurate and detailed scope of work for rehab projects, creating contracts with digital signature support, deal analysis tools, etc. We are a team of very active real estate investors so everything we are developing is something we find useful in our day to day investing.
Our passion is to create the best software for your real estate investing business and aim to be the only software program that a real estate investor needs to run a successful, scalable business. See less >>