"Jake, so what are these automated and semi-automated direct-to-seller real estate acquisitions systems you keep talking about"?
So let me take a second to address that here:
2/ These systems are some combination of outsourcing, procedures/templates/workflows & technology, stacked together in a way that produces more deals for you to buy.
3/ Of course there's levels to them, so I openly say that most are semi-automated.
The 1st level is to increase outreach volume while making sure that you don't give yourself a new job.
This means, in most cases, setting up outsourced cold calling w/ robust follow-up sequences.
4/ Instead of speaking with 30 sellers through 4 brokers, you are now speaking to ~15,000 homeowners/month in a jam and your caller's putting them into follow-up flows that you own and control.
You segment & follow up w/a combo of text, emails, direct mail, retargetting, etc.
5/ We use 12-15 pieces of software, from marketing automation to CRMs to outreach tools. Ofc data access is a big deal as well so lists, GIS files and contact information is important as well.
All of that should be combined into a solid workflow that can be operated by not you.
6/ After 6 months your callers' have spoken to 90k homeowners and you have 5k-10k owners who need a more creative approach communicating w/you in your funnels.
Some will convert quickly into deals, others will require more value and then start converting with CTAs.
7/ The key to this is follow-up and segmentation.
The initial outreach (a cold call in this case) is just the first touch. We need to reach out to some people 20-50 times. Cost-effectively. And we need to speak to Grandma differently than to her grand son.
8/ Once that's going the next step is to throw in some landing pages & paid traffic, incl PPC (pay-per-click) and FB ads.
Here we're slowly starting to shift from fully outbound outreach to some inbound.
Running ads requires *a lot* knowledge & budget so don't start too early.
9/ Here too the ad is just the first touch.
You need *strong* follow ups, preferably in an omni-channel apprach.
The best way to go is with content-rich segmented follow up. You can get away with transactional follow-ups but make sure you do as much as you can.
10/ Throw in some retargetting! People will go to your landing page so make sure you keep "following them across the internets" with retargetting ads.
This way you can capture those sellers who really need to work with you by staying top-of-mind.
11/ Finally, leverage all you've done with paid ads to build a solid SEO strategy so that you rank #1 in Google for "sell my house" and "cash for houses".
This is totally possible to do. It's time consuming and expensive, but it's doable and extremely valuable.
You'll dominate.
12/ So in summary RE acquisitions systems:
- pump up the volume of the deals you're seeing
- take you out of the equation
- allow you to follow up for months/years cost-effectively
- combine tech w/ outsourcing w/process to go direct-to-seller
We build these so feel free to DM.
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1/ If you're a real estate investor who's having trouble accessing real estate information from the county or your Propstream/Reonomy lists suck or you bought some 'hot leads' & no one on the other end of the line knows what you're talking about
Rejoice!
Let me tell you why👇🧵
2/ RE investors make real money on spreads offered by inefficient markets.
You're willing to rehab a property the other guy wants turnkey? Get paid.
You're offering good housing in a market national investors are afraid to operate in? Get paid
You've got inside info? Get paid.
3/ The fact that buying off-market properties at below-market rates is hard is GOOD!
Embrace it!
Prioritize for it. Learn it. Build tooling & systems around it. Get good at it.
But don't wish it away. Don't wish for a 'magical dashboard where you press a button to get deals'.
2/If that didn't yield results we append/enrich, meaning we use software like FullContact and others to add work phone numbers, work emails, social media profiles and other points of contact to reach out.
A VA or junior employee will usually do this.
⬇️
3/ Now we send the records we still don't have good numbers for (callers are going through the first two sets & calling all known phone #'s to see if they have a good number. If they don't, those records get recycled back into the original database) to a dedicate skiptracing VA
1/ Want to use LinkedIn to get a lot more residential real estate deals?
Merrill @stillwell gave me permission to use his business as a use case so I'll share the play-by-play of how'd I leverage LinkedIn to buy more properties in Colorado ski towns for luxury redevelopment.
The problem that needs solving, as with most investors, is how to buy more good properties at a good basis on good terms.
3/ Some background re this exercise:
Merrill's amazing. Lots of experience. He really knows what he's doing. He grew up in these mountains.
- I've been here 7 years. I know the area he invests in well enough, but ofc not as well as him.
- We'll use LinkedIn as the sole strategy.
1/ Lots of GPs & brokers say "become the buyer every agent wants to bring deals to".
But brokers bring deals to their favorite 5-20 buyers.
Your chance of becoming a favorite buyer in your market are slim.
Even if you do accomplish it it'll take years + even top brokers churn.
2/ If you're not investing corporate (family office + HNWI) money you chances of out-competing those who are are even smaller.
Plus a broker's interests aren't aligned with yours. They don't make more money by bringing you a better deal so many focus on dumb money.
3/ Work with brokers, but make sure you know it'll take a long time & you might do some deals you don't love just to prove you're a legitimate buyer in your market.
Also, build your own acquisitions strategy and rely on that. You have to have control over your own deal pipeline.