The first thing you need to do when you get into real estate is you've got to generate some leads and be able to find some properties that you can buy at a deep discount.
In today's show, Larry and Kandas talked about the things you need to know when generating leads. They also shared different ways and techniques on how to do marketing and prospecting. Stay tuned!.
It’s time to BRAG, Be Rich and Generous. BRAG Radio is cohosted by bestselling real estate investing author Larry Goins and co-host Kandas. For the next hour they will show you proven and effective ways you can be successful in real estate. From the WBT Studios, the flagship station of the Brag Radio Network, here are your hosts, the rock stars of real estate, Larry and Kandas.
Larry: Hello, hello, hello and welcome to BRAG Radio. I’m really excited to be here along with Kandas.
Kandas: Yes you are.
Larry: That was very nice, thanks. So if you ever heard the show, it’s called BRAG Radio Network from our flagship station Uptown Charlotte WBT and it’s all about being rich and generous. We are local real estate investors, we’ve actually bought and sold properties in about 12 different states, right from our office in Lake Wylie South Carolina.
And we focus on the Carolinas and now we’re buying some in Georgia. But we have bought and sold properties in 12 different states and we teach you how to do that. We are coaches, mentors, I’ve written a few books about real estate investining as I like to say it. And they’re available wherever books are sold, right. And my first book was called Getting Started in Real Estate Day Trading.
And latest book, HUD Homes Half Off: How to Buy HUD Houses for Pennies on the Dollar. And we coach and mentor people from around the country, even around the world. And today I’ve had a lot of people that have asked me recently about, “Larry I’m having trouble getting leads.” What this means is when you are a real estate investor, you are looking for steals.
Not deals but steals. And I got to tell you even though we’re still buying we’ve got three or four HUD deals on the board right now, we buy and sell probably three to five sometimes seven to 10 deals a month. And we have some HUD deals on the board at any given time three to five deals. But you’ve got to market to generate seller leads, right. You’re looking for what everybody in the business calls a motivated seller, right Kandas?
Larry: So a lot of people have asked me, “Larry how am I going to find properties?” right now real estate is hot.
Kandas: Well you could find properties or keep a consistent flow of properties.
Kandas: Both can be a problem.
Larry: Of good leads, right.
Larry: Of good leads. And I thought it would be fitting to talk about generating leads today, because let me tell you something the first thing you’ve got to do whenever you get into real estate is you got to generate some leads. You’ve got to be able to find some properties that you can buy at a deep discount, right. Now the first thing I want to talk about in doing this is you can go deep or you can go wide.
What do I mean by going deep or wide? Well let’s say you’re in the Charlotte MSA, Metropolitan Statistical Area. If that’s the only place you’re going to buy properties in is in Charlotte and the surrounding areas, you’re going to have to go deep. You’re going to have to find maybe eight to 10 different ways to get properties, right.
You’re going to have to find that many ways to get properties, or you could go wide. Now going wide just means expanding your geographic territory, so you don’t have to use eight to 10 ways. You can probably use three or four different ways.
Kandas: Yeah and get away with it pretty well.
Larry: Now I have a saying. I would rather have 10 ways to find one deal than one way to find 10 deals. So if you’ve got multiple sources, multiple strategies to be able to find deals, then you’re just going to have that much more success in getting properties okay.
And I like to break it down into two different things. There’s marketing and there’s what I call prospecting. Now marketing is basically anything that makes the phones ring, alright. Anything that makes the phone ring. And I love marketing because when the phone rings, who’s in control?
Larry: I am, I’m in control. Right, when the phone rings-
Kandas: And he loves control.
Larry: What? Anyway.
Kandas: You know I’m not lying.
Larry: That’s true, which makes it tough sometimes because you do too.
Kandas: That’s right.
Larry: So marketing is anything that makes the phone ring but whenever they call, right, whenever a prospect calls maybe I mailed them out a postcard or maybe I’ve ran a Craigslist ad or something or whatever it is, when the phone rings, maybe they say something like, “Hey I got your postcard in the mail says you buy houses.”
Then I’m helping them. I say, “Yes how can I help you?” well I don’t answer the phone anymore I have people, right. It could be Troy or Garrett or somebody that does that but I don’t have to do it anymore, right.
Larry: I don’t mean that in a bad way.
Kandas: It just sounds bad when you say it like that, “I don’t have to do it anymore I have people.”
Larry: Well I do have people.
Kandas: You do, you’ve worked hard to get those people.
Larry: That’s right. And you out there listening you can have people too, we can show you how to do that, right. I can teach you how to get people to do that for you, right.
Kandas: That’s right.
Larry: That’s what we do, right.
Kandas: It is part of what we do.
Larry: It’s all laid out in the book. So marketing is anything that makes the phone ring. When the phone rings you are in control, right. You are helping them not the other way around. And it never ceases to amaze me, like when we’re selling a property, a lot of people say, “Where did you get that deal?”
When I found it, it wasn’t a deal. I had to create that deal.
Kandas: It definitely wasn’t a steal.
Larry: Right. So the key thing here is when somebody calls you about a house they have for sale, more than likely they’re not going to tell you, “Oh it’s worth $80,000 and I’ll take 20. That doesn’t happen. It might be worth 80 and they say they’ll take 60 and then after two or three weeks of negotiating you get them down to 20 or 30. So that’s just the way it works. And that’s the reason you want to look for what we call motivated sellers.
That’s very important, you’ve got to find what we call motivated sellers. But remember with leads, it’s very important, the older they get the colder they get. Just remember, when you’re trying to buy a house and somebody is a motivated seller and maybe they got to move out by the end of the month, maybe they’ve been transferred, maybe there’s a divorce, maybe they lost their job or maybe they’re in foreclosure or whatever it is.
They’ve got sell that property and they’ve got to sell it fast. They key is with leads, the older they get the colder they get. If you don’t remember anything else, remember this; you can’t steal in slow motion. Now you know I don’t literally mean steal, right.
Kandas: Well I mean yes and no because you don’t see burglars just walking out of a place they broke into though. So there’s that.
Larry: There’s that. That’s funny. So let’s jump in and talk a little bit about marketing. If you’re just now joining us, you’re listening to BRAG Radio network, all across the country even around the world. BRAG stands for Be Rich And Generous.
And it’s all about investing in real estate to be rich and generous, we teach people how to do this. And a lot of what I’m talking about and even more is in my book, Getting Started in Real Estate Day Trading, available wherever books are sold or you can get a copy from Kandas, right.
Kandas: Yeah I have them sent out to you. I got people that can do that. So if you give us a call at 877-LARRY-GO we can get a little bit of information from you and get the digital kit out to you. Or you can text the word BRAG to 803-897-6063 and we can get it out that way. Now you do take and I try to mention in on every show.
But when we do our three day events, this is one of the topics that has the most question and answer to it. People have the most questions with this topic well not the most but this is one of them. And if you guys want to know where we’re going to be next, our next two upcoming events are always listed on larrygoinslive.com. So you can check that out and get registered for one of those too.
Kandas: He’s very live he’s very animated.
Larry: That’s exactly right. So let’s get back to marketing okay we’re talking about how to get deals because if you’re a real estate investor especially if you’re just getting started, you got to make the phone ring.
Kandas: Got to.
Larry: You got to make the phone ring. The very first thing I tell people to do is get you some bandit signs. Now you’re probably thinking, what is a bandit sign, right? It’s those signs you see on the corner that says, “I buy houses.”
Kandas: You should put a pause there for dramatic effect, get you some-
Larry: Bandit signs.
Kandas: Bandit signs. Yeah.
Larry: So bandit signs you see them everywhere they say, “I buy houses,” right with a phone number. Now bear in mind there are certain cities including Charlotte that doesn’t allow them within the city limits so you’re going to have to make sure you put them like out in the county or whatever in other counties that do allow them, okay.
Kandas: Now how do you find out that they don’t allow them? You get a very nice phone call.
Larry: After you put them out, they start calling you.
Kandas: From the county that says, “Somebody better come pick these up.”
Larry: Once again I have people for that as well, so I have people that put out our signs. And if we get called from code enforcement, I’ll pay the person to go take the sign back up.
Kandas: We don’t want to make enemies with code enforcement.
Kandas: We like them over there.
Larry: Because they send us deals. That’s one of the sources I’m going to talk about. And the bandit signs is just the absolute very first way. There’s a tremendous amount of other ways to get deals and I’m going to go through all of them, one at a time.
[10:04] [Break] [10:20]
Kandas: He likes that part so I let it play through.
Larry: Welcome back to BRAG Radio, leading the world to be rich and generous. I can hear myself. This whole show I couldn’t even hear myself.
Kandas: Don’t you hear yourself enough? I do hear you enough.
Larry: Thank you very much, appreciate you. Alright so we’re talking on today’s show, this is a show about real estate investing. We’re talking about marketing because let me tell you something you got to make the phone ring. Nothing happens until the phone rings. Right you got to generate leads for motivated sellers if you’re going to be a successful investor especially in today’s market, because today’s market, it’s a hot market, right Kandas?
Kandas: It is very hot.
Larry: It is. It’s a hot market.
Kandas: Everybody wants to be a real estater.
Larry: Everybody wants to be a real estater as my son Noah says. So we’re talking about different ways of marketing and prospecting. Marketing is anything that makes the phone ring and when the phone rings you are in control you are in charge. We talked about bandit signs that’s those, “I buy houses signs that you see” You can pay people to put them up. You know how much we pay people to put them up? Well I know you do.
Kandas: Yeah of course I do.
Larry: Yeah of course you do.
Kandas: Tell them people, tell the radio and the people.
Larry: A dollar per sign. We pay people a dollar per sign.
Kandas: To put them out and take them up if we get called.
Larry: Yeah if we get in trouble we pay them another dollar to take them up. But having said that, a lot of people a dollar per sign what are you crazy? I’ve had people that I mean we run our ads on Craigslist to recruit these people and I’ve had people that cursed me out, that got mad at me, that yelled, sent me explicitives through email, all that stuff.
Kandas: If some people could just use all of that anger energy towards something good, they could probably change somebody’s life in a positive way.
Larry: That’s probably true. But what I had to do was record a little video like over at signjockies.com. Signjockies.com there’s a little video every objection every concern everything that I had come up, I put it into a script and recorded a video for it. So like people would say, “What are you crazy, a dollar per sign?” and I would say in the video, “You may think a dollar per sign is not much money.
But if you go to an intersection you put out four signs and that’s $4, you drive to the next intersection you put out another four signs that’s $4. You drive to another one, if you hit four to five signs in an hour-
Kandas: Four to five intersections.
Larry: Four to five intersections in an hour you can make 16 to 20buck in an hour. And I’ve done it and it’s easy to do. For going to the grocery store and back or taking your kids to school.
Chad: Or you can put 20 signs in one corner and make it all in two minutes.
Kandas: Well now you can’t do that Mr. Schemer over there because during our creation of this little hiring process, we had an app created where we track where the signs are. So if they’re grouped all in the same cluster that’s not going to work for being paid. But nice try.
Larry: That is that. Yeah so we are able to track or there’s a little app called Simple Crew and you’re able to track exactly where the signs go out, who put them out, when they put them out. And they take a picture of the sign through the app.
Kandas: Now I will tell you too though, I’m sorry one second.
Larry: That’s okay.
Kandas: But since Chad is trying to scheme I will tell you, you can, I don’t want to say double up. But I’ve ran into where I’ve put some signs out there’s another I-buy-houses person that is taking my signs down and putting theirs up. So I’m taking their signs down and putting my signs back up. So it’s going to geotag that I’m doing the same area signing the same area but I’m replacing signs that were taken down. So there is the exception to the rule.
Larry: That’s just wrong, right.
Kandas: It’s mean. And it’s got I mean his phone number’s right there but I’m not going to waste the time or energy or have that anger in me to call and say, “Look dude we could do this all year. I don’t care I got plenty of signs.”
Larry: What we learned to do is buy little stickers the size of the phone number and just put the sticker of our number over theirs.
Kandas: That’s how it’s going to happen.
Larry: I’m just kidding, but it’s a good idea.
Kandas: Or you could put WD40 on your signs so when they go to pull them up they just get everything all on their hand.
Larry: I know they’d leave them alone. All they got to do is pull up one of them they’re like, “Eew.”
Chad: I think you could write a whole book about bandit signs.
Larry: Right. And that’s just like one and a half pages in the book Getting Started in Real Estate Day Trading.
Kandas: Yeah our personal experiences with bandit signs.
Larry: I know, right.
Larry: That’s funny.
Kandas: It does talk about bandit signs, the real estate day trading book. And you guys can get a copy of that if you send me an email to firstname.lastname@example.org, send a text BRAG to 803-897-6063 or you can call 877-LARRY-GO and you get the whole kit, that book plus another one and some other stuff.
Larry: Yeah there’s a lot of stuff in that investor’s kit. The other thing I want to talk about marketing is vehicle signs. If you’re a real estate investor you need to have something on your vehicle.
Larry: On your-
Larry: Vehicle. It’s vehicle.
Kandas: Is it a motorcycle for you as well?
Larry: It’s a motorcycle.
Kandas: But a vehicle.
Larry: It’s not a vehicle.
Kandas: How about just a vehicle.
Larry: Okay. You need to put a sign on your car, okay. And I drive an SUV and I have a sign in the car that says larrybuyshouses.com. I have signs on the side that say Larry Buys Houses. I even have a scrolling tag frame an LED tag frame that lights up and says Larry Buys Houses calls 855-LARRY-BUYS. So if you’re listening and you have a house for sale, call me, right.
Larry: No, 855.
Kandas: 855-LARRY BUYS. 877-LARRY-GO for the books, 855-LARRY-BUYS.
Larry: There you go, that’s good. So you need to have a sign on your car and you can get them online.
Kandas: Or multiples apparently.
Larry: Right on your vehicle. And you need to like mine I have a champagne colored Lexus SUV. So I actually ordered signs that were the same color as my car.
Kandas: The lettering yeah.
Larry: So it looks pretty cool, I mean it doesn’t look nasty or ugly or anything as far as I know.
Kandas: Well we just need to get them updated because what happens with the shimmer on that is the vinyl lettering loses that shimmer, right.
Larry: It does after a while.
Kandas: So it’s not the same color as your car right now it’s a little darker.
Larry: Some of it yeah that’s true, that is true.
Kandas: That’s all though.
Larry: So another thing that you can do to market for properties is you can do direct mail. A lot of people do direct mail. That’s one of the biggest ways that people generate motivated seller leads. Now you might think, “Well who am I going to mail to?” there’s a huge list of people that you mail to okay. And there’s places that you can buy lists, and in my book I go into detail in all the different list sources.
In fact that’s one of them, listsource.com but there’s all the different list sources that you can go to, to get lists. Now the first list that I want to talk about is probate. These are people who are the executors of an estate or they’ve inherited property and somebody passed away and they’re probably going to sell the property, right.
Most of the time they do. Not all the time but most of the time they do. So there’s probate. There’s also you can mail out to what we call absentee owners. These are owners who own a property but they don’t live in the property. In other words they could be landlords, they could have inherited the property a long time ago, right.
It could be a vacation house or like a rental house like if they’re a landlord, right. So those are what we call absentee owners or non-owner occupied people. So the next thing is pre-foreclosures. People who have received what’s called an NOD or Notice of Default okay. That’s another source you can mail to. Another source is Section8 landlords.
There’s a lot of landlords that rent their property out through a HUD program called Section8 where they subsidize the rental. It’s called Rental Assistance and you can mail out to those. You could also mail to what we call not only absentee but out-of-state owners. Those are actually more like to want to sell their property because they own a property and maybe they don’t live just across town.
Maybe they live in another state. They’re more likely to want to sell the property okay. And there’s a tremendous among other ways that you can do this. Unfortunately in the show we don’t have time to go through every single one of them. But we are going to continue going through them but you need to get the book.
In the book I talk about every single way. There’s like 67 different ways to find properties. And we go through each and every one of them in detail. Now you can buy the book or you can get it for free, just call Kandas, 877-LARRY-GO, that’s 877-LARRY-GO to grab the book.
[19:33] [Break] [19:57]
Larry: Yeah baby, a little bit of Van Halen I love it.
Kandas: Loved it.
Larry: I love it, that’s awesome. So welcome back to BRAG Radio, sorry I had to digress there for a second listening to some Eddie Van Halen. So BRAG Radio, we’re all about being-look it’s still going on he just pended that. There’s you go.
Kandas: You’re not going to focus with that.
Larry: I know, right. So BRAG Radio is all about being rich and generous. We teach you how to invest in real estate, we are real estate investors, fulltime it’s what we do. And we’ve done deals in 12 different states right from our office in Lake Wylie South Carolina. And we teach people all around the country even around the world how to invest in real estate, whether you want to be an active or passive investor.
And today we’re talking about marketing, making the phone ring. That’s very important to make the phone ring especially when you’re starting out. You’ve got to generate what we call motivated seller leads, okay. If you are wanting to buy real estate, right now we teach you how to buy off the MLS and buy HUD houses.
In fact I wrote a books called HUD Homes Half Off or you can get a copy by calling Kandas, 877-LARRY-GO. But also you’ve got to find what we call unadvertised or what we call off market properties, right. If it’s on the MLS or if it’s on HUD or if it’s on Craigslist or Zillow, already there’s been hundreds if not thousands of people seeing that deal, right.
Kandas: Everybody knows.
Larry: Everybody knows.
Kandas: Everybody knows and half of them have called.
Larry: That’s right. So it’s very important that you got to find what we call off market properties okay. And we talked a little bit about bandit signs, those are the signs that you see that say, “I buy houses.” And you can pay somebody to put them out or whatever car signs, I started to say vehicle signs. But car signs, put a sign on your car that says, “I buy houses.”
Mine says larrybuyshouses.com 855-LARRY-BUYS. And you need to have a website like our website, larrybuyshouses.com. You need to have a website if you’re serious about it and Kandas can hook you up with that as well. We have sources that we use and recommend for websites as well.
Kandas: Yeah just shoot an email to email@example.com .
Larry: There you go. And also we talked about some direct mail. Now with direct mail you can either mail letters or postcards. We prefer postcards because number one they’re cheaper and number two they don’t have to be opened. Right it’s not like a letter where the person’s got to open it, right.
Larry: So it’s a postcard and just think of everywhere that thing goes that-
Kandas: All the carriers.
Larry: All the carriers everybody. Now I will tell you this, now I love the mail system okay. I love it I spend a lot of money with it.
Kandas: And you prep us in our whole [Inaudible] [22:53].
Larry: I know because you know where I’m going with this. We got a postcard back, sometimes when you send mail it says return to sender, forwarding order expired or whatever. We got a postcard back the other day, no joke we mailed it in 2008.
Kandas: 2008 in fact there’s a very prominent real estate investor that has infomercials and things running, who was a speaker for us and is pictured on that postcard. Before his big time.
Larry: Right. It was a postcard we sent out advertising one of our three day events. And the three day event was like January of 2009, so we mailed it out in 2008. Is that crazy or what?
Chad: 10 years later.
Kandas: It just came back, ridiculous.
Larry: Literally just got it back last week, I couldn’t believe that. But for the most part mail does get delivered, right.
Kandas: It comes back a lot sooner so you can keep your list clean.
Larry: That’s exactly right. So you could use direct mail, you can use what we call absentee owners, we talked about that a little bit earlier. Another source to mail to, is code enforcement. Right there’s properties in just about every city that have what we call code violations. Meaning their houses aren’t up to minimum standards.
In fact sometimes they call that minimum housing standards department or whatever. But you could mail the out to code enforcement and that’s public information. Wherever you are, it’s public information, it’s not something that’s private. Now some of them even have websites like in Charlotte Mecklenburg County, you can go to the Mecklenburg County website and you can see a list of every property that has code violations against it, right.
And you can download that spreadsheet and you can send direct mail to those people and now not all of them are going to want to sell. But sometimes it’s a don’t-want to landlord maybe or maybe they inherited a property and it’s rundown. Or maybe they’ve been renting out and they’re tired of dealing with tenants, trash, termites and toilets, and they’re ready to sell.
Kandas: Could be, never know unless you ask.
Larry: That’s exactly right. So mail to code enforcement and we talked a little bit about probate as well. Another good source to mail is the eviction notices, right. the landlords that are having to evict tenants in single family houses, that’s another great source to be able to mail to is to mail to landlords that are going through eviction with a tenant.
Right, there’s also you could get on Craigslist and look for ads but there’s other places you can look for as well. Some people like to run ads in all the small papers. And if you’re looking for ads like I mentioned though, if you’re looking, other people have already seen it. But if you are looking, save your time and only look for certain keywords.
Keywords like handyman special, fixer upper, cheap, cash, transfer, motivated, reduced, all that stuff, right. Now it is very important also whenever you start doing some marketing and make the phone ring, you want to be able to track the people who’re calling, right. You want to be able to track where the leads come from. And we use a service called Call Rail, C-A-L-L-R-A-I-L.com is a great service.
We actually have a separate phone number for every lead source. We have a separate phone number for Craigslist, we have a separate phone number for Facebook marketing, Facebook ads, for our website and like in direct mail you could have a separate one for say your probate list, your code enforcement list, your eviction list and your absentee owner list. You could have a different phone number for each one of them.
Kandas: Now tell them why you do that.
Larry: Here’s the reason you do that, alright. We have it set up to where whenever the phone rings, we have each number programmed like say our acquisition guys I don’t have to do it anymore as I mentioned. But our acquisition guys have each number programmed in and let’s say it’s a Facebook ad okay a Facebook lead that came in from Facebook.
So it has its own number. Well the guys have that number programmed in their phone and we set it up in CallRail. So whenever someone dials that number, what shows up our end on caller ID is not the caller’s number but the number they call.
So whenever we put in our phone, Facebook seller lead, when the phone rings it pops us and says, Facebook seller lead. So now they know exactly who’s calling, not who’s calling but where they came from, right. So they know exactly how to handle that lead when they call. Does that make sense Kandas? Yeah.
Kandas: I just wanted you to explain because sometimes just making one phone ring is enough. But having multiple phone numbers is.
Larry: That’s true.
Kandas: But I mean it helps you, you have scripts for different callers, right dependent on how they came in. and you are able to track your spend. So if one’s not really producing you could switch it out for another.
Larry: That’s so true. And with CallRail, it will record the calls and it will keep track of all the leads. And we have all those leads go into our CRM anyway okay. And like I said earlier, we’re going through a lot of different ways you can market, but there’s no way I can go through them here. Get a copy of my book, Getting Started in Real Estate Day Trading. It’s going to show you all 67 ways to find motivated sellers.
Kandas: 877-LARRY-GO can get you the book. You could also text the word BRAG to 803-897-6063. And like I mentioned a couple other times, the three day event is absolutely phenomenal when it comes to question and answers and diving deep into different topics.
And this is one of longest sessions in one of our three days and one of the best and most intense. So visit larrygoinslive.com as well to find out where we’re going to be around the country next and get registered for that too.
[29:19] [Break] [29:35]
Larry: Welcome back to BRAG Radio. Leading the world to be rich and generous. I’m Larry Goins here with Kandas.
Larry: And we’re talking about real estate investining.
Kandas: I have been here all show though.
Larry: I know.
Larry: Yeah. And we’re talking about real estate and that’s what we do, we teach people how to invest in real estate, we invest in real estate ourselves. We’ve done deals in 12 different states right from our office in Lake Wylie South Carolina.
And we teach people, we coach people we mentor people. We’ve written books about it, we do seminars and boot camps and have coaching and mentoring. We’ve got students all around the country even around the world that we’ve taught how to do real estate, haven’t we?
Larry: We have. And today what we’re talking about is marketing to make the phone ring. Marketing and prospecting to make the phone ring and we’ve talked about bandit signs, we’ve talked about direct mail, we’ve talked about vehicle signs or putting signs.
Kandas: Or vehicle.
Larry: Putting signs on your car, right. We’ve talked about a lot of that stuff and there’s just so many different ways that you can market to find deals. I mean there’s just a tremendous amount of ways you can market to find deals. And direct mail is one of the great ones. Now the other cool thing that I really like is Facebook marketing, okay. Facebook marketing is another way that you can do deals and get deals from motivated sellers. Just about everybody is on Facebook right.
Kandas: Everybody that would be interested in us yes.
Larry: Yeah so there is a think that you can do with Facebook marketing called custom audience. Not many people know this so pay close attention okay. Let’s say you have a direct mail list okay of what we call absentee owners or probate or people with code violations or whatever. You could take that list even though it may be just a direct mail list okay has their home address.
You could take that list, you can upload that list to Facebook, to your ad account, right yourbusiness.facebook.com account or you could set one up, it’s very simple. And you upload that list and then you can create a short ad just maybe a picture of a house that says, “I buy houses any condition anywhere cash.”
Right, sell me your house. Now with that list uploaded you create what’s called a custom audience. So guess what, Facebook will match that list with accounts of people that have a Facebook account. So maybe you’re sending them a direct mail piece, a postcard.
And then when you upload that list to Facebook you’re running an ad, so you’re hitting them in two different places. And they’re like, “Wow these people are everywhere. I just got a postcard from these people and here they are on Facebook trying to advertise to me,” right. It’s called a custom audience and it’s a very powerful thing.
Kandas: If used right.
Larry: That’s true, if used right.
Kandas: And used consistently.
Larry: Yeah. And the cool thing is it doesn’t cost you a lot of money, not at all. It doesn’t cost a lot of money at all. You can do this for just a few dollars a day, it doesn’t cost much money at all. The other thing that you can do with Facebook is you can join groups. There’s a lot of different groups out there like on Facebook Marketplace.
And then there’s groups like Lake Wylie Market, Buy Sell Trade Markets, in any kind of a geographic location, there are Facebook groups. And you join those groups and then you post. Like we got a student that here’s what he does. He puts a picture of a cruise ship okay. Everybody likes to go on cruises, he puts a picture of a cruise ship and underneath the cruise ship it says, “The next five people that bring me a house that I buy, I will send you on a cruise for free.”
Larry: Right and you can buy those little cruise coupons for like 20, 30 bucks or whatever. And it is because cruise ships try to fill their vacant cabins, right last minute they try to fill those. So they sell those cruise coupons. So I mean and you can legitimately get a cruise for a very small amount of money. So he gets a great deal of leads from there.
And I thought it was just a great idea so I wanted to share that as well. The other thing that you can do is you can hire what we call birddogs. Now there’s a lot of people who’re just getting started. Our students don’t typically birddog but our students will typically hire birddogs, right.
Kandas: Right, that’s right yeah.
Larry: Because when we teach you how to do this you don’t need to be a birddog because a birddog is not going to make about maybe $500 a deal, right.
Kandas: It’s a good way to get started and we could talk about that on another show but yeah for the level that you’re talking about with the marketing we’re doing no.
Larry: That’s exactly right. So with birddogs or sometimes called property locators, you hire somebody and I know you guys listing you’ve probably even seen Craigslist ads or bandit signs out there on the side of the road that say, “Real estate investor seeks apprentice.” That’s an investor looking for birddogs to go out there and source properties for them.
If you hire one you don’t want them to bring you Craigslist ads, you don’t want them to bring you MLS properties or HUD properties. What you want them to do is go out and look for vacant houses. You want them to bring you vacant addresses. And once they bring you a vacant address then you can look up and see who the owner is, okay. And there are specific apps out there that will let you do that, like LandGlide.
Kandas: Love it, one of my favorite apps ever.
Larry: It’s a great app, it’s $10 a month. It’ll let you search several for free but you can be in front of a house or type in an address or you can even do a scout where it follows you if you’re going down the road. And you can see who owns every single property everywhere, right.
Kandas: The parcel.
Larry: Exactly, the parcel number, it’ll take you to the county website.
Kandas: As long as that county’s information is feeding into GIS.
Larry: That’s exactly right.
Kandas: If they’re not a-techno is not the word I’m a looking for, but a technology advanced county, then they may not feeding in.
Larry: And most of them are now.
Kandas: Most of them are.
Larry: I haven’t seen one in years that’s not online, right. But another app I really like is called DealMachine.
Kandas: That’s a good one too.
Larry: With DealMachine not only can you look up and see who owns the property, but with DealMachine you can actually look up and find the owner’s address. It’ll look and search on public records online and find out the owner’s email address, phone number. And it’ll even you can send them a postcard right from the app, right.
Kandas: Yeah that’s a good one too.
Larry: Which is really cool. So those are some good apps. So let’s talk about prospecting, okay. Now prospecting is where you’re basically reaching out, okay. Prospecting is not making the phone ring, that’s where you are reaching out. And where you are prospecting with let’s say you’re looking online and you’re looking at keywords and ads like handyman special, fixer upper, cheap, cash, all that.
You’re calling code enforcement, you’re calling property managers, maybe you’re CPAs or moving companies. Maybe you’re calling hard money lenders or private money lenders to find out properties they’ve taken back. What about people that are out in the neighborhoods like mail carriers, they know where the vacant houses are.
Garbage collectors, they go out into neighborhoods every day and they see the vacant houses. Pizza delivery people, meter readers, process servers, loan service companies, even eviction court. You can go down to eviction court and talk to landlords down there, right. So there’s just so many different ways that you can prospect.
Go into your local real estate investors’ associations, like in Charlotte Metrolina REIA, that’s the one to go to, right metrolinareia.com I believe it is. And they’re a member of national association of real estate investors. So there are so many ways I wish I had time to go through all of them, I don’t. But please get a copy of the book. Kandas will give it to you for free, just give her a call, right.
Kandas: If you’re nice yeah. You could text the word BRAG to 803-897-6063, or you could call me on 877-LARRY-GO and we could get the digital kit out to your email.
Chad: How do I get a real kit?
Kandas: If you want to come to the office.
Kandas: And you can call me too on 877-LARRY-GO to schedule that and make sure that Larry and I’ll be there, that I can have it right there to walk you around and introduce you to everybody and then get the kit to you before you go.
Sounds great. Thank you so much Kandas, thank you Larry. And tune in again next Saturday for BRAG Radio as bestselling real estate investing author Larry Goins and co-host Kandas teach you the latest techniques the pros use to make money in real estate.
If you’d like more information about what Larry and Kandas talked about on today’s show or like that free investor’s kit or to schedule a tour of the office call 877-LARRY-GO, that’s 877-527-7946. You can also text the word BRAG to 803-897-6063. It’s BRAG Radio, be rich and generous on News Talk 1110993WBT.
[End of Recording] [39:08]