A Simple Tip to Generate A Flood of Qualified Leads for Your Real Estate Business
I just sat down with a very successful real estate investor who specializes in wholesaling houses in Columbus, Ohio. His name is Darren Dicke and he shared with me an amazingly effective yet simple strategy about how he locates and sells wholesale deals and I thought I would share it with you so you can start using the idea immediately. He calls this strategy “Driving for Dollars” and this is how it works.
When Darren is driving around neighborhoods in Columbus, he looks for houses with “For Rent” signs in the front yard. When he finds one, he pulls over, gets out his cell phone, calls the number on the sign, and asks the owner of the house (the landlord) these 4 simple questions:
1. “I’m calling about the house you have for rent on 123 Birch Ave. Would you be interested in selling the house?” (If they answer “no”, he asks…) 2. “Do you own any other houses you’d be interested in selling?” (If this answer is “no” to this question, he then asks…) 3. “Do you know anyone else who has houses that they may be interested in selling?” (If this question is also answered “no”, he asks…) 4. “Are you looking to build your personal portfolio? From time to time, I come across houses in this neighborhood. Would you like me contact you when I know of a house that becomes available for sale in the area?”
Approximately half of all the deals that Darren does is a result of him asking those four questions. The first 3 questions get him seller leads, and the fourth question allows him to add qualified names to his buyers list (landlord buyers). If any of the first 3 questions are answered “yes”, he treats it like any other seller lead. During my interview with Darren, I suddenly got the idea that you could also apply this tip to houses you see advertised for rent on Craigslist.com, in your local newspapers, and in the Thrifty Nickel and Greensheet papers.
So there you have it! Just contact landlords with houses for rent and ask them the 4 questions above. You are certain to find some motivated sellers (burned-out landlords) and some very qualified landlord buyers (for your deals)… that can easily turn into a big payday for you in a short period of time!
If you want to learn more about real estate investing and “The REI Lifestyle,” please visit Wholesale Real Estate, then visit Michael Kimble’s blog at Wholesale Real Estate blog.
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