REI BLACKBOOK PRESENTS

The Real Estate Investor's Guide to Generating Motivated Seller Leads

At REI BlackBook we teach and train the users of our software to understand the Roadmap to Your Next (or First) Deal.

The Roadmap has 6 stages and it looks like this:

The first step in the Roadmap process is Lead Generation and it is, without a doubt, the most critical of the six steps.

After all, if you can't get motivated seller leads --- the rest doesn't matter.  You're just rearranging the deck chairs on the Titanic as they say.

There are 8 ways to get your phone ringing with motivated seller leads as you can see in the Roadmap:

This resource is dedicated to teaching all 8 methods of lead generation as a real estate investor.

(NOTE:  This resource will continue to grow over the next 6 months as we continue to publish details around each lead generation method.)

Lead Generation Method 1 - Direct Mail

Description: Despite what you may have heard, Direct Mail is still one of the most effective methods for generating seller leads for real estate investment businesses of any size. The ability to generate a target list of motivated sellers from sources such as ListSource and Mellisa Data, and send them a piece of mail that speaks directly to their needs, is a strategy you should strongly consider.

Why does Direct Mail work so well?

The reason, as mentioned above, is that you can target a very specific list of homeowners, based on their potential motivation to sell. For example, you can buy a list of individuals who own a house in one city, but live out of state (Absentee Owners). Another great example would be a list of individuals who have recently received a Notice of Default letter (Pre-Foreclosure).

An even better strategy is to start stacking these lists, and really pin-point sellers who NEED to sell their property. Finding a list of out-of-state owners, who are also behind on payment, or taxes, is a much more valuable list, because you are now stacking "motivations".

Lead Generation Method 1 - Direct Mail

What you'll need:

  • Mailing list:
    • Identify who you are going to mail. Here are a few suggestions of lists you can pull from online resources mentioned above, or possibly your local courthouse. Absentee owners, pre-foreclosures, probate, etc
  • Direct mail piece:
    • Remember, the power of direct mail is the ability to target a very specific list. Don't make the mistake of sending a generic offer to a specific list. Speak directly to the wants and need of your prospect. If they recently inherited a house, your "offer" or headline should read" "Did You Recently Inherit A House That You Need To Sell?"
  • Trackable phone number:
    • It is important to understand where your leads are coming from. Having a phone system like ProfitDial allows you to have a specific number for each campaign, so you know if you're marketing efforts are profitable. This allows you to keep doing what's working, and shut off what's not.
  • Lead sheet:
    • Leverage the lead sheets inside REI BlackBook to input the data you have collected from your prospects. Simply type in their information, and REI BlackBook does the rest. The property is automatically entered into your Property Pipeline, and your new lead is simultaneously entered as a new contact.

Use this lead generation method if you...

  • ... are a technophobe - Don't like messing with this newfangled thing they call the Internetz?
  • ... need high volume - If you need something that can scale up and generate a lot of motivated sellers.
  • ... have some dinero - Direct mail can get pricey but you can control that by being selective when you buy your list.

Lead Generation Method 2 - Bandit Signs

Description: Bandit Sign on Wheels is a modern take on the traditional Bandit Signs that you see hammered into the ground on street corners all across your market. We took the idea of a basic bandit sign, and applied it to the back window of a car.

A longtime REI BlackBook user Ruben Perez came up with this idea and has built his business around this lead generation strategy. He has over 400 cars on the road in Phoenix, AZ with a sticker that read "Full Asking Price For Your House. "We Buy Houses in Any Condition", driving around town. Each sticker had a phone number with an extension.

Every time he gets a lead from one of his cars, and buys the house, that driver is compensated.

The trick here is making sure that you have a phone system that allows extension tracking, so you know which car generated the phone call, and who needs to be paid for that lead.

This is an excellent long-term growth strategy for generating leads at scale.

Lead Generation Method 2 - Bandit Signs

What you'll need:

  • Classified Ad: 
    • Place a simple ad on Facebook or classified websites like Craigslist to recruit drivers.
  • Landing Page:
    • Drive those leads to a landing page explaining how the program works, so you can capture driver leads 24 hours a day.
  • Trackable phone number (w/ extensions):
    • Create an AMP phone number in REI BlackBook and assign an extension for every new driver that you sign up.
  • Car Sticker:
    • Order your car stickers, and schedule a time to meet with your new drivers to install the sticker, sign the waiver, and officially join your "driving-for-dollars" team.

Use this lead generation method if you...

  • ... are a technophobe - Don't like messing with this newfangled thing they call the Internetz?
  • ... have patience - This method will take some time to start producing a volume of leads.
  • ... are operating on a tight budget - You can get motivated seller leads fairly cheaply with this method.

Lead Generation Method 3 - Property Finders

Description: Property Scouts (sometimes called Bird Dogs) is a great way to multiply your motivated seller lead generation efforts.

What is a Property Scout?

It's someone who locates distressed properties on your behalf and is compensated for doing so. For example, you can recruit an individual who is already walking or driving your targeted neighborhood (your mail carrier, Uber driver, ice cream truck drivers, etc.) and ask them to send you the addresses of any houses that looks like they're in a distressed state.

Why would someone go out of their way to do that for you?

Simple. You're going to pay them to do it!

You can incentivize them either per lead or per closed deal.

Lead Generation Method 3 - Bird Dogs or Property Scouts

What you'll need:

  • Ad:
    • Place a simple ad on Facebook or on classified websites like Craigslist to recruit drivers. You can also find these individuals in your sphere of influence (read: get out there and network!)
  • Landing Page:
    • Use the Property Scout Landing Page already setup in REI BlackBook to educate potential recruits on how the process works, and capture them as leads.
  • Property Scout Management System:
    • Use the Property Scout Portal in REI BlackBook so your Scouts can submit you properties using their own personal portal. You will know exactly who submitted each property and will have the ability to accept/reject each submission. You can also give feedback, and create educational material to help inform your Scouts on the type of properties that fit your buying criteria.
  • Lead Sheet:
    • When the property is accepted, all of the data that your Scout collected on the property will be transferred directly to the Lead Sheet in your Property Pipeline.
  • Phone System
    • Make outbound dials and track which calls are answered, and create automated text & ringless voicemail (See Ringless Voicemail below) campaigns for those that were not.

Use this lead generation method if you...

  • ... are a technophobe - Don't like messing with this newfangled thing they call the Internetz?
  • ... have patience - This method will take some time to start producing a volume of leads.
  • ... are operating on a tight budget - You can get motivated seller leads fairly cheaply with this method.

Lead Generation Method 4 - Search Engine Optimization (SEO)

Description: Search Engine Optimization (SEO) as defined by dictionary.com, "is the process of maximizing the number of visitors to a particular website by ensuring that the site appears high on the list of results returned by a search engine (ie: Google, Bing, etc.)."

Simply put, when you go to Google and type in a search, there are going to be 10 links that appear on the first page. Those websites are the websites that Google deems most relevant to your search.

Why is SEO relevant to you as a real estate investor?

Well, people that are in a distressed situation (of any kind) typically do research to find answers to their questions. And one of the first places people go is Google.

They type in things like "How to avoid foreclosure", "How to sell my rental property", or "How to sell a house I inherited".

These people are looking for answers, and they are searching with a great deal of "intent".

In other words, someone that is typing "how to avoid foreclosure" is trying to solve this problem right now.

This is a very high-quality lead.

Lead Generation Method 4 - SEO (Search Engine Optimization)

What you'll need:

  • Keyword Research:
    • Think about the "keywords" or questions people might be typing into Google.
  • Content Page:
    • Create a page on your website or a blog post that provides a solution to their problem, and then give them a way to contact you if they would like you to help them resolve their problem.
  • Landing Page w/ Lead Form:
    • Embed a web form, or link to a landing page with a web form that your prospect can fill out, and request more information.
  • Trackable Phone Number:
    • Include a phone number on your content page that you can track. You want to be able to know how many leads that page is producing, and compare the quality of those leads to your other marketing channels
  • Lead Sheet:
    • After speaking to this lead, enter their information into your lead sheet, and begin the process of making them an offer.

Use this lead generation method if you...

  • ... want high-quality leads - This method produces highly motivated sellers.
  • ... have patience - This method will take some time to start producing a volume of leads.
  • ... are operating on a tight budget - You can get motivated seller leads fairly cheaply with this method.

Lead Generation Method 5 - Facebook Ads

Description: Facebook Ads are a great way to get in front of motivated seller...if done properly.

You may have heard that "you just can't find motivated sellers on Facebook".

I'm here to tell you that's not true.

Facebook has over 214 Million daily active users according to statista.com. Included in that 214 Million people are individuals who are behind on payments, or may have recently inherited a house.

But you must realize, people do not go to Facebook to find answers to their questions, or to solve problems. They are there to browse their news feed, see what their friends and family are up to, or to stumble across some news or an interesting article.

The mistake many investors make when running Facebook Ads is that they go directly for the ask. They run ads that read "We Buy Houses", or "Sell Your House Fast".

There is no consideration for the wants, needs, or emotions of their audience.

The beauty of Facebook is that you are in control of who sees your ads.

Did you know that you can upload a list of email addresses, and phone numbers, and run a very targeted ad to that list?

Just like we talked about with direct mail, what you say to your audience matters, and specificity sells! The more targeted you can be with your messaging, the better results you will get.

Lead Generation Method 6 - Facebook Ads

What you'll need:

  • List (Optional) - 
    • Similar to direct mail and cold calling, you can find these lists through popular list companies, your local courthouse, and a number of other sources. You can then upload that list to Facebook and create a custom audience.
  • Facebook Ad Copy:
    • Craft a compelling message that speaks directly to the needs of your target audience. Do not make the mistake of making a broad offer like "We Buy Houses for Cash."
  • Facebook Ad Image (or Video):
    • A good rule of thumb is to use images or videos that show you prospects in their desired "after state". In other words, show a smiling person/couple who recently sold a house.
  • Landing Page:
    • Like SEO you'll create a page on your website that provides a solution to the prospect's problem. If your ad is speaking to someone who recently inherited a house they need to sell, your landing page should have a very similar message and then give them a way to contact you if they would like you to help them resolve their problem.
  • Trackable Phone Number:
    • You need a phone system that you can clearly track how many calls you made, how many people answered, and the result of the call. Bonus points if you follow up via automated text message and ringless voicemail.
  • Lead Sheet:
    • Once you get a prospect on the phone, enter their property into your lead sheet. That property will then be sent directly into your Property Pipeline, and a new contact will be generated in your CRM.

Use this lead generation method if you...

  • ... need high volume - If you need something that can scale up and generate a lot of motivated sellers.
  • ... have some dinero - Direct mail can get pricey but you can control that by being selective when you buy your list.
  • ... need leads NOW - This method can produce seller leads quickly.

Lead Generation Method 6 - Google Ads

Description: Google Ads are often the very first "search results" you see when performing a search on Google.  You can pay money to Google and they will put your ad in front of people who are searching for keywords of your choosing.

For example, if you would like your ad to appear when someone types in "How to sell an inherited house in St. Louis" Google Ads will allow you to do just that.

The leads you capture from Google Ads tend to be some of the highest quality because they are actively searching for a solution to a problem. Compare this to direct mail, where you are trying to grab their attention before they toss your mailer in the trash. Google Ads can be fairly competitive in the real estate investment niche, but the payoff can be extremely high.

Lead Generation Method 7 - Google Ads

What you'll need:

  • Keyword Research:
    • Just like SEO, think about what "keywords" or questions people might be typing into Google. You can use a tool like Google Keyword Planner for help with this.
  • Google Ad:
    • Craft a Google Ad that speaks directly to the need of the keyword that is being searched. Don't make the mistake of making a broad offer like "We Buy Houses" if someone is searching "How to sell an inherited house in St. Louis".
  • Landing Page
    • Similar to SEO, create a page on your website, or a blog post that speaks that answers that question, and provides a solution to their problem. If your ad is speaking to someone who recently inherited a house they need to sell, your landing page should have a very similar message and then give them a way to contact you if they would like you to help them resolve their problem.
  • Trackable Phone Number:
    • You need a phone system that you can clearly track how many calls you made, how many people answered, and the result of the call. Bonus points if you follow up via automated text message and ringless voicemail.
  • Lead Sheet:
    • Once you get a prospect on the phone, enter their property into your lead sheet. That property will then be sent directly into your Property Pipeline, and a new contact will be generated in your CRM.

Use this lead generation method if you...

  • ... need high volume - If you need something that can scale up and generate a lot of motivated sellers.
  • ... have some dinero - Direct mail can get pricey but you can control that by being selective when you buy your list.
  • ... need leads NOW - This method can produce seller leads quickly.

Lead Generation Method 7 - Driving for Dollars

Description: Driving for Dollars is the act of hopping in your car and driving a neighborhood/market in search of houses that look vacant, or are in some form of distress.

Many people have their own "system" for doing this, and here at REI BlackBook, we have a system that works really well!

When you find a property that appears to be vacant, instead of just jotting it down on a notepad, you can use and REI BlackBook internal landing page, and enter the property there.

Once you do this, the property will be automatically added to your property pipeline. Do this for every property that you find on your drive, and you will have built a list of properties that you can export when you get home.

Lead Generation Method 8 - Driving for Dollars

What you'll need:

  • Driving for Dollars Intake Form: 
    • Build an internal landing page with a web form where you can submit property data, pictures, and more.
  • Property List:
    • Export the list of properties that you submitted on your drive so you can generate a direct mail and/or a cold calling list.
  • Mailer (See Direct Mail)
  • Skip Tracing Service:
    • Use a skip tracing service to generate names and phone numbers from the property address and either call them directly or drop a ringless voicemail broadcast to the entire list.

Use this lead generation method if you...

  • ... are a technophobe - Don't like messing with this newfangled thing they call the Internetz?
  • ... have patience - This method will take some time to start producing a volume of leads.
  • ... are operating on a tight budget - You can get motivated seller leads fairly cheaply with this method.

Lead Generation Method 8 - Ringless Voicemail

Description: Ringless Voicemail (RVM) is the marketing channel that we are the most excited about here at REI BlackBook.

Ringless voice mail gives you the ability to send a voice mail to an individual, or a list of contacts, without actually ringing their phone. You can think of this as cold calling at scale.

This is NOT the same as a "robo dialer". Remember, the phone doesn't ring. Your prospect will simply get notified that they have a missed call, and a voice mail. They then listen to that voicemail, and choose whether or not to call you back.

Be careful with this...

If you send out 500 ringless voicemails, you will get a high volume of calls virtually right away.

So who do you send these RVM's to?

You can send them to your direct mail list, your driving for dollars list, leads that are submitted from your Property Scouts, and any other "list" in which you have the contact's phone number.

Just like direct mail, you can buy a list, run that list through an append service to get their phone numbers and drop them an RVM.

Then, brace yourself for responses!

Lead Generation Method 9 - Ringless Voicemail

What you'll need:

  • Lead List:
    • Use your direct mail, driving for dollars, or property scout list.
  • Pre-Recorded Message :
    • You will need to record or upload a pre-recorded message that can be used as the voicemail that you will send to your list.
  • Ringless Voicemail Software
    • Use the Ringless Voicemail feature in ProfitDial to send your RVM to your list
  • Phone System w/ Automation:
    • It's important to use a tool like ProfitDial to track your call back volume and route your calls to the proper person on your team.
  • Call Forwarding:
    • Use the call forwarding feature in ProfitDial to route your incoming calls directly to your mobile phone or office line.
  • Lead Sheet:
    • Once you get a prospect on the phone, enter their property into your lead sheet. That property will then be sent directly into your Property Pipeline, and a new contact will be generated in your CRM.

Use this lead generation method if you...

  • ... need high volume - If you need something that can scale up and generate a lot of motivated sellers.
  • ... need leads NOW - This method can produce seller leads quickly.

(NOTE:  This resource will continue to grow over the next 6 months as we continue to publish the details around each of these lead generation methods.)