Finding the Deal….3 Low-Cost Marketing Strategies

The #1 questions always at the top of real estate investors list…..

Where can if find the deal(s)?

The answer:

Everywhere…you just need to know where to look, and what to ask.  Typically, that means some type of marketing – deals just don’t fall out of thin air – and if they do, it ‘s because someone knew you were looking for an investment property because you talked about, wrote about or posted about it!!!

As an investor, I am always looking for the next deal, not spending a ton of money finding my deals and getting a property under contract with the best ROI (return on investment) for my time and money spent finding the deal.

In a competitive market – you will want to focus on spending less, not more for your  marketing, and develop the ability to get leads without paying for them!

My favorite and by far best three low-cost marketing strategies are:

 Driving for dollars (DFD)  - will cost you gas (and as I write this gas is at an all time high!) and your time.  How does it work;

o In an area that you are interested in investing, print out a map, mark if off in a triangle, quadrant, box or square and start driving the neighborhood.

o Best done with a buddy – they take notes on distressed houses while you are driving slowing through a neighborhood

o What you are looking for:

 Overgrown shrubs, grass, and weeds in yard

 Broken blinds in window

 Peeling paint, bad roof, junk/trash in yard

When you find a distressed house:

1. Write the address down

2. Search county tax records for owner name/mailing address

3. Send letter that you want to buy house

BONUS TIP: Don’t forget to drive the alley ways in those neighborhoods that have them, peek between the fence slats when you can – the front might look pristine, but the backyard can tell a different story.

*************I will sometimes leave a bright pink, green or orange sticky on the garage door saying I buy houses!

 Public Record Search – will cost you time…there are plenty of lists you can build just with searing public records, and creating you own mailing list of leads, here is where to look:

o County Tax Records

 Search by Exemption Status such as

• Seniors  - people looking to downsize, or having to make life changes forcing them to sell home

• Non-Owner Occupied – the property owner does not live here, so it may be a rental or vacant property

*******Download list into excel spreadsheet, mail merge labels or letters and send out.

BONUS TIP:  The same area I am driving for dollars (DFD) I also do this search to find other properties in the same neighborhood that I can send letters to, increases your chances if you are able to work with one property owner, and have them refer you – AND you already had your foot in the door because of the letter you previously sent out!

o City Liens

o Water shutoff list

o Eviction Court Records

To find the data, first start with the city and county websites.  You can also call your local administration and let them know what you are looking for – I find that most of the time the clerks are very friendly and will point you in the right direction.

Some counties already have this information uploaded, and it is matter of knowing where to find on their websites.  For Eviction Courts – call the Justice of Peace Clerk office to make sure not only are the parties of the suite listed online, and it is current.

BONUS TIP:  Go to eviction court in the jurisdiction you want to live.  In my area, it is held every Wednesday from 9-11 and I have gone and gotten the names of landlords AND had the opportunity to talk with them literally on the court steps!  Remember they have a problem, and you have the solution.

 Referrals – cost you time

o Tell everyone you meet you are a real estate investor, and you buy distressed properties

This marketing strategy is the best!  Why –  you are being referred by someone who knows, likes, and trusts you, and is making an introduction to a person who has a problem house they need to sell.  It doesn’t get any easier or better than this!

It is up to you to make sure you treat your referral with respect, honesty, and integrity….OR you won’t have this marketing strategy very long!

If you have more time than money OR are just someone like me that likes to get a good deal for a low cost – then you owe it to your self to try these los cost marketing techniques to find your next real estate deal!

BUT WAIT – don’t stop there….

Just for you, I have a bonus:  The Capital Road Map and Fast Track for real estate investors.  To get your free copy just click here!

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