Bird Dog In Charleston, South Carolina
Bird dog in the Charleston, South Carolina area. Anyone have any suggestions on how to bring in more investors? I can't believe there are so many investors reluctant to receive property leads. Maybe it's my approach, if you have suggestions please help.
Rns
what is it about your approach that you feel could be limiting investors from hiring you?
Well be honest I don't know. I have a good marketing network consisting of mailman, pizza delivery person, divorce and bankrupcy lawyers, and I make weekly trips to the courthouse on top of my drive bys. It just appear that a good number of the investors are just not interested. I have 5 investors that I'm working with now but to really thrive you need more. I'm providing 40-80 leads per week and I'm going the extra step to pre-qualify. I provide pictures on most leads as well. Thank you for you reply.
rns
Hey,
My guess is 1) your investors aren't serious or 2) your leads aren't good.
If the investors are looking at the leads and saying no, then it is the leads. If they aren't interested in the leads (without hearing the details), the investors aren't serious. Anxybody can say they are an investor, it doesn't mean they are.
Have you spoken to the investors about why they are not buying your leads?
40-80 leads per week would be A LOT of leads; how good do you think these leads are?
It's not that they aren't buying the leads. I know and understand that it's a numbers game. The investors I'm talking about are not interested in the service meaning that they are not interested in having a person provide them with leads. The 5 investors I provide the service with are having decent success. The feedback I'm getting from them is that I'm providing exactly what they need. We have a good rapport. I am hoping to bring more investors in and develope a really nice network of investors. I have an aggressive marketing network going and could use more investors to share the leads with.
rns
Hey RNS,
To be frank, it sounds like you don't really HAVE any investors. You have 5 people who said they would be willing to get information from you. Now they might be REI, but they have no desire to buy leads from you.
When I was a stockbroker, every day I would add 10-15 people to a list of "prospects" I had. These were all people who said "Please send me your material", but they said that to get me off the phone. I really had 0 prospects, but I had a really long list of people.
My advice would be to call all the WE BUY HOUSES ads and go to all the REI meetings you can find and network with people.
You stated you were getting 40-80 leads per week. What kind of leads are they? That is a HUGE amount of leads.
Thanks Bruce for your response. I think you're misunderstanding what I'm saying. The 5 investors I have a contract with have and is having success with the leads that I provide to them. All is well with them. What I'm wanting to do is expand. I have so many leads that I feel that a lot of them are being dropped because one investor can only do so many deals at one time. I've worked really hard to build up a marketing network that I feel is second to none. Like I said I have delivery people, divorce and bankruptcy lawyers, several police officers, home and code inspectors, mail man, friends and family all providing me leads on top of my own ads, signs, etc. Every single day somebody at work will give me a FSBO or FRBO that they've spotted. I of course compensate them for their efforts if any of those leads result in a contract. The line I'm getting most often from would be investors are "I'm already swamped" or "I'm not interested in that service at this time". I get this even given the success that my 5 investors are having. Every investor I have under contract have purchased or have a contract on at least two properties that I've provided to them in 2004. I don't have anyting to compare it to but I think that's doing pretty good. Without breaking confidentiality with my contracted investors how do I approach the relectant investors to show the quality of service that I provide. Thanks and sorry for such a long post.
Rns
Hey RNS,
My fault; I completely misunderstood your posts. Sorry.
Here are four quick points:
1) Start doing the deals yourself. Keep the best ones.
2) Ask the investors for references. Everytime they talk to you about a property, ask them for the name of another investor you can do business with.
3) I don't know what your contract says with each investor, but I would think you could always talk about INVESTOR X and INVESTOR Y and the deals they have done with you to other investors.
4) Why can't I find a Birddog like you in Atlanta?????
I agree with Bruce.
Why don't you do these leads yourself?
40-80 leads, you don't need investors, unless your leads are not profitable to the investors you want. If you can do 10% of what you say you get. you would be on the way to the bank.
IMOO,
Marv
Doing these leads myself is my qoal. I got the marketing down now I need the know how, the financing, training, etc. I've started as a Bird Dog to get "my foot in the door" if you will. Now that I've done that I've realized that I still have a long way to go to be a successful investor. Anybody willing to put in the work can find the deals but putting the deal together requires more and that's what I'm working on. I'm not one to be fooled by all these ads of "becoming a millionare in real estate with no money and no credit". If it was truely that easy then everybody would do it. It can be done but not as easy as they would have you to believe. So I'm taking it slow and I'm learning and growing as I go along. Thanks for the reply.
rns