Feeling trapped by the need to ask your boss for vacation time? Dream of a life where you call the shots?
You're not alone. Many aspire to become their own boss and carve out a niche in the world of real estate. Take Ryan Haywood for example.
Ryan has been actively involved in real estate wholesaling since 2019. In just over three years, he has completed an impressive 420 wholesale deals after leaving his full time job. Recently, Ryan shared some of his top marketing strategies for finding distressed properties to wholesale on The DealMachine Real Estate Investing Podcast. Today we will dive into some of his top tips, so you can quit your 9 to 5 and become an expert in investing.
Driving for Dollars to Locate Distressed Properties
One of the first steps Ryan recommends for new real estate investors is driving for dollars. This involves driving through neighborhoods and looking for visible signs of neglect on properties. Some examples include roofs in disrepair, broken windows, tall grass, or stuffed mailboxes. These can indicate a property is distressed, vacant, and a potential wholesale opportunity.
Once a neglected property is identified, Ryan states that adding it into a real estate app makes managing leads much easier. Popular apps like DealMachine allow users to compile a list of distressed properties they locate while driving dollars. Built-in functionality helps organize, market to, and follow up with motivated sellers.
Direct Mail Campaigns For Generating Seller Leads
After properties are identified, the next critical step is launching direct mail campaigns. While the DealMachine app offers design templates, Ryan stresses the importance of personalization. For example, he includes a photo of himself and his family on his postcards. Despite initial hesitation, he states this simple personal touch nets substantially more motivated seller calls.
Additionally, Ryan recommends simple, conversational language over catchy sales slogans. An example from his postcard: "Hi, I'm Ryan. I'm interested in purchasing your property at 'Address'. Please call me to discuss if you're looking to sell."
This friendly approach makes sellers more inclined to engage.
Combining Mailers With Follow Up Calls
Rather than relying solely on mailers, Ryan suggests following up with phone calls. This provides consistency across multiple touchpoints. On calls, he references previously sent mailers to spark seller memory and uses casual, non-sales language. Recycling this process across three mailers and associated calls maximizes outreach.
He also emphasizes keeping conversations relaxed as another trust-building technique. Letting conversations flow naturally versus reciting verbatim scripts helps sellers open up. Showcasing flexibility to buy properties as-is or remove unwanted items can further incentivize reluctant sellers.
Start With One Strategy, Then Optimize
For newer investors eager to scale quickly across multiple strategies, Ryan cautions to stay focused. He recommends mastering one marketing avenue first before pursuing others. This allows properly dedicating time to refine techniques and maximize ROI. Once a rhythm is established, integrating additional strategies becomes easier.
DealMachine provides an all-in-one platform to streamline driving for dollars, direct mailing, and calling motivated sellers from one platform. The access to free unlimited contact information and automatically dial seller leads makes follow-up calls simple. As Ryan notes, consistency and dedication to an approach leads to deals.
Key Takeaways
- Driving for dollars remains an effective way to locate distressed properties primed for wholesale real estate
- Personalized direct mailers tend to yield higher response rates from motivated sellers
- Following up mailers with consistent calls references previous touchpoints and builds trust
- Master one marketing strategy at a time before integrating additional methods
- All-in-one apps provide convenience in organizing leads and contacting sellers
Consistency, dedication, and nurturing motivated seller relationships are of the utmost importance. Ryan's 420 wholesale deals underscore the strength of his approach. For new investors, implementing similar techniques could lead to first deal success.
