In recent years, there has been unprecedented expansion in the property investment market, with many new products coming into the market to enable portfolio diversification among investors.
Often, the alternative investment leads you’re interested in as an investment specialist or personal investor lie within a range of already established investment packages, which means it may be difficult to get your new investment plan across in a compelling and comprehensible way.
Alternatively, as an investor in the ideal setting, your real estate/investment product agent would be able to furnish you with more deals than you need, but this rarely happens. Even the most established agencies have a finite number of property investment leads at any one time, and not all of them will be to your liking. .
In order to remain in business, you will need to find ways to land new deals, rather than just waiting for your affiliates to call. Below are a few ways you can get your leads as an investment product agent or personal investor managing your own portfolio:
1. Direct Mail
Many people brush off direct mail because of how fast the costs can add up, which is a legitimate concern. However, there’s no rule that states you have to start by sending thousands of letters. Just by looking around, you can identify companies willing to offer you cheaper direct mail rates for smaller batches.
However, the key to success in direct mail is getting the right list i.e. people who are really likely to follow through with your products. For that, you need a lot of research into not just potential leads’ income, but also their leanings, mindsets and interests. You can mail them many times, being a small group. With proper research, you can expect many phone calls once you’ve built up the right list.
For those who lack resources to invest towards direct mailing, you have other weapons in your lead generation arsenal. Talk to local attorneys, who may be at the frontline of more deals than you can imagine from estate lawyers to divorce lawyers. Save one day a week to go out and connect with as many local lawyers as you can, particularly those in real estate and divorce law. Have your card and a small write-up ready. Collect their contacts and build up an attorney email list, whom you should email at least once weekly.
While most people consume their news through online media, you can still use local newspapers for your leads. Typically, local auctions and foreclosures are published in the local dailies, with names and addresses of property owners. You can use this information to reach out to the owners, and persistently follow up on them until you land the deal.
Also, check out rental listings – persistent rental listings may be a sign that the landlord is having trouble. Approach them and find out what the deal is, and whether they are willing to sell.
4. Town Hall
The local town hall, just like newspapers, is a great source of information for auctions and foreclosures. You can also glean information on imminent tax liens in public records. Properties, where owners are behind on property taxes may be placed in a lien, followed by an auction, which will be scheduled according to the number of properties up for grabs. All you need is an hour at your local town hall every week.