Welcome to the first post in our “Featured Tool of the Month” series! Follow us as we breakdown our software, pixel by pixel. Today's post focuses on Lead Generation using Leadpipes.
Leads are the lifeblood of every business
...But you already know that without leads, your business will not grow. Period.
I’m sure everyone and their brother has already told you how important it is to maintain a consistent flow of leads, and what a struggle it is for most real estate investors to maintain a full pipeline. And if you have any experience in the real estate investing industry, you’ve probably already experienced this yourself, so you don’t need people like me telling you what you already know.
Like most real estate investors, our lead generation strategies were all over the board before we created Leadpipes.
We typically went through feast or famine cycles where we would take the time to buy a list or go to the courthouse (yes, that was way back when…) to research leads in our area and send out a direct mail campaign. Then the rest of that month and the next couple of months were dedicated to working those leads, instead of continuing to focus partially on lead generation. Once we cycled through those leads, we had to start the process all over again. It was completely inefficient and there was no way for our business to grow.
It didn’t take long for us to realize that the number of leads consistently feeding our business determined our growth and success.
A continuous influx of new leads is a goldmine for real estate investors, and being able to generate thousands of buyer and seller leads with very little effort is invaluable.
With that in mind, we created Leadpipes, our lead generation tool.
Leadpipes gives users instant access to 10 different types of buyer and seller leads including Absentee Owners, Bankruptcies, Cash Buyers, Free and Clear, Renters, Tax Liens, Upside Down, High Equity, Low Equity, and Private Lender leads.
Within seconds users can populate thousands of fresh leads and filter them based on owner, property, geography, loan, tax information, and more. Leads are deposited directly into the user’s Realeflow account, which can immediately be dropped into a direct mail campaign.
The first two types of leads that I want to cover are Renters and Cash Buyers.
Renter leads include people who are currently renting an apartment or house and may be in the market to purchase a property of their own.
Why they’re important…
Renters are great leads to target both to help you sell properties and grow your buyers list. Many are tired of making their landlords rich and are on the brink of investing in a property they can call their own!
Our Renters Leadpipe focuses specifically on renters between the ages of 21-45 with a household income of $100k or more.
This used to be me. I can remember when my wife and I were renting a place while we were building our first home. We used to get postcards and letters in the mail from investors who had properties to sell. Now they didn’t know that we were building a house, so we looked to be their target market and, I’ll tell you, there were a few places that we would have looked at had we been in the market to buy a home.
Don’t ever underestimate the value of a list of renter leads.
Cash Buyer leads are people who have paid cash for a property, which is a good indication that they are in the market to invest in more property. These are typically wholesalers or rehabbers. Anyone who is investing in properties and paying cash is someone who you should connect with. You want them to know who you are and why they should do business with you.
Why they’re important…
Cash Buyers make doing business simple; they hand over the cash, sign some paperwork, and the deal is done. Other buyers can make closing a deal seem like a nightmare. The lender may deny some buyers who claim to be pre-approved for a mortgage later on, causing the deal to fall apart at the last minute.
By no means should you overlook buyers who use mortgages to purchase properties, but always keep in mind that placing an emphasis on working with cash buyers will ensure successful investing and peace of mind.
Some of the easiest money I have made in real estate investing is through deals that I’ve done with cash buyers. They may not have been the most profitable, but they were quick, easy money which allowed us to move on to the next deal.
If you’re buying and selling properties, Cash Buyers and Renters are going to be a fundamental part of your business. Real estate investing becomes exponentially easier when you have a buyers list to draw from every time you have a property to sell.
In my next post, I’ll cover some of the seller leads that we offer. Make sure you stop back to check it out!
Please leave a comment below if there are lead types that you're interested in hearing more about.