Epic Real Estate Investing - EREI 068: Boost Your Business with New Lead Generation Ideas and Sources

Episode Date: October 4, 2013

Matt opens up this episode defining a real estate investor's primary job and then closes the episode sharing new ideas and resources for finding motivated sellers. By the way, pen and paper are needed for this episode. You don't want forget any of these tips, strategies and resources; and if you haven't downloaded the ultimate real estate investing resource, here's your chance. Download Matt's free real estate investing course at FreeRealEstateInvestingCourse.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Broadcasting from Terrio Studios in Glendale, California, it's time for Epic Real Estate Investing with Matt Terrio. Yeah. What's up, her? Hey, this is the Epic Real Estate Investing show. Hello, welcome to another episode. If this is your first time listening to the show, welcome. So glad that you're here. And, you know, this is the place where I show people.

how to get out of the rat race using real estate. And it all really just begins with a simple shift in your mindset, a shift in focus. Simply stop focusing on creating piles of cash and start focusing on creating streams of cash. That's what we like to call here in the real estate world. We call that cash flow. You see, by doing that, making that shift in your mindset, I escaped the rat race in less than four years. What literally 99% of our population, literally 9% of our population, literally 9%. 99% of our population is unable to do in 40 years.

I don't share that with you to brag by any means. I really refrain from ever bragging about anything. I only share my success and share my stories and share that specific statistic with you right there because, you know, I don't consider myself special in any way. I mean, I just, anyone can do this. That's why I share this with you. Anyone can do this as long as someone would only show you how. and someone was very gracious, gracious enough to let me in on this particular life secret.

And now I'm letting you in on it. Okay, I'm paying it forward. And if you think that's good news and thank you, Matt, and you're appreciative. Wait, it gets better because it took me just under four years to escape the rat race. And that was with making a ton of really dumb mistakes, the amateur newbie type mistakes. The great news about that is that you don't have to make all those mistakes. Meaning if you hang out here for a while, you should be able to travel that road so much quicker than I did. And to help you get started, I created a free step-by-step course to show you exactly how I did it,

to show you exactly how I would do it if I had to do it all over again. And you can download that free course at free real estate investing course.com, free real estate investing course.com. And let's see. Oh, if you happen to have a question, comment, or concern that you'd like me to answer or address here live on the show, please share them with me on the Epic Real Estate Investing Hotline at 1-888-891-7203. 888-891-7203. And, you know, on that note, I've been receiving a ton of calls. I mean, probably three or four a day on that line from all over the country.

But the message that's left on there is just a blank message for like 10 seconds. I just get 10 seconds of dead space. You know, I've got a couple messages sparsed here and there that have actually made it. But I'm not sure what that is. I'm researching this right now with my phone. service. But my fear is that many of you have left questions and they've been lost due to some sort of technological mishap. So if you don't hear your question within the next four to five episodes, all I can tell you is just call again. My apologies for any inconvenience there.

And I'll get this sorted out soon. I'll certainly get it sorted out by the next episode. So today's episode about, let's talk about real estate. You know, I want to discuss your primary job as a real estate investor. You know, some people think it's marketing. Some people think it's to earn a profit. Some think it's to, it's just simply buying and selling property. Or some think it's networking or developing the people skills and all of which are important. And all of them are necessary skills.

An investor should develop. But none of them are your primary job. Your primary job is to solve problems. and I'm sure this that's not the first time that you've heard that right but but to hear it that's one thing to know it that's another but to actually do it to actually solve problems you know that's really the difference between your success and your failure you know you might get it right every once in a while you might get an accidental thing where you don't really solve a problem you still made some money but but really the difference between your long-term success and even you know

midterm success, the difference between your business being a success and failure is your ability to be able to solve problems. And, you know, when you're just starting out, you're going to experience a ton of problems. You're going to, you're going to like, ooh, I got problems. Tons. And it's your job to solve these problems too. And if you don't like solving problems, this business is not for you. It's just not for you if you don't like doing that.

I mean, if you consider yourself resourceful, awesome. You're ahead of the game, but it's not enough. You need to embrace and implement your resourcefulness. It's not about your resources. It's about your resourcefulness. And if you don't consider yourself resourceful, if you don't think you're very good at solving problems, then you need to become resourceful.

You need to learn how to solve problems. You need to start putting some effort there. And if you don't want to do that, Hey, just quit. Quit the business. Just stop listening now. Go do something else. I mean, I hate to be so blunt about that.

But that's how it is. And this conversation that I'm having with you right now, you know, it's actually been inspired by, I'd say the last 12 months or so of my coaching, my interaction with my students. You know, as they get started, just like when you start anything, they naturally experience problems.

They experience problems that they didn't have before they took on the endeavor of real estate investing in. And it's really their, it's, I've noticed that it's their reaction to these problems. I can tell right in the beginning. It's their reaction to these problems that they experience that, that separates those that have great results and those that have, I don't know, so-so or less than desirable results.

I can almost tell right up front their reaction to, like, I couldn't find that download. What should I do? or maybe not, didn't find it, but the download didn't work for me so I couldn't print out the such and such sheet, so that's why I don't have it today. Like that little type of problem stopped them dead in their tracks. So this business, it takes some initiative too. I mean, you must become resourceful, the more or the better, and you must take initiative. If I've been on sites before where the download didn't work or I didn't know how to do it,

Go to Google. Take some initiative. Go to Google. How do I download a PDF document from a web page on a Mac? You can type in that specific of a thing and you're going to get 20 different results showing you how to do it. And that's just a really on the surface simple explanation. But look at other places in your life in your business right now where you're like, I don't

know how, so you just quit and you just stop. this business, you can't do that. It's not going to be a business for you. It's going to be a very frustrating experience. You've got to take some initiative and you've got to become resourceful. And, you know, what's awesome about being on the coaching side of this, at least in this experience, this part of my week, you know, I get to observe people dealing with their problems. And by doing that, I'm becoming a better real estate investor myself. I become better because I continue to help new investors overcome their problems to solve their

problems. I mean, my problem solving gets stronger and stronger. You see, I haven't experienced every problem there is to have as a real estate investor. I don't have all the answers. Nobody has. And I don't think anybody ever will experience every single problem that you could have in this business. I think that would be impossible. I mean, I've said this many times, and here's one more time, there's a lesson inside of every single

transaction. You'll never stop learning. You'll never stop. And because I experience an exponential amount of transactions living vicariously through my students' transactions, I get to experience an exponential amount of problems, thus receiving an exponential amount of lessons. I become a better real estate investor every day. But I notice that the reason I've become, or I've been become, becoming a better real estate investors because of solving problems. I'm forced to solve these problems. I have to. I mean, people pay me to coach them.

And all I can think of is how stupid I would look if I couldn't solve the problems of someone that was paying me to help solve their problems. And I actually have felt stupid on a couple of occasions because I was stumped. And I don't like feeling or looking stupid, right? nobody does. I have a certain amount of pressure and obligation to be resourceful. And because I'm constantly exercising that problem, that problem solving muscle, that muscle continues to get stronger.

And the stronger it gets the better real estate investor I become. And I can tell through my results, too. It's not just I'm better and I know more and I'm smarter and wiser. It's actually showing up in my results. You see, when I started this podcast a couple of years ago, I had wholesaled a hundred or so properties, and I was holding about 40 units or so, something like that. And I think I had just acquired my first multi-unit as I launched this podcast. Now, in just over two years of this podcast, I've wholesale now more than 300 properties.

I've tripled the amount of properties I've done before I started the podcast. So I've had the podcast for two years, and I was investing in real estate or wholesaling for four years before that. So I've tripled the amount in the last two years than I did in the pre-year-old. previous four. And my personal portfolio has more than tripled. I now hold 138 units. And I just put another 44 unit under contract. And I've got a package of 30 more units, 30 single family residence under contract that I'm going to buy in bulk and then I'm going to wholesale those individually. You know, kind of like buying the car for one price and scrapping it and selling the parts individually at a significant profit. I mean, all that to say that the evolution of my

problem solving has had a direct and significant impact on my results, of which has me becoming a better coach by the day. And I know that because I'm witnessing the results of my students improve as well. You know, many of you have been requesting more interviews of my coaching clients, and I hear you. I heard every single one of you, and I've got some more coming up. Okay, no worries. So after some introspection, I've come to believe that what I've always known to be true, just now from a different perspective is the one reason,

or yeah, the reason that one succeeds in real estate has to do with why they are investing in real estate. Your reason for taking this business on is the key that will unlock your success. Your reason, it almost, your reason has to be so big and so strong, it almost has to force you to succeed. It almost has to be an obligate.

to succeed. Like I mentioned earlier, I have a certain amount of pressure and obligation to be resourceful. My students depend on me to have an answer to their questions to be able to solve their problems. And because of this heightened level of pressure, this heightened level of obligation, my results correlate. My why is bigger. My why holds me accountable. My why produces my resourcefulness. My why pushes me to be a better problem solver.

My why forces me to focus on and master my primary job as a real estate investor. Solve problems. And if that sounds like a bunch of, I don't know, just self-help gobbly gook, let's put it this way. Imagine your house is burning down. Your house is burning down. and inside that house you've got your favorite set of golf clubs. Are you going to run back into that house to save your golf clubs? No, probably not, right?

Probably not. Let's say inside that burning house is not just your golf clubs, but let's say you left your wallet. And yeah, you just got back from the ATM. It was loaded with cash. And plus you got your gold card in there and you got your ATM and you got your social security card in your wallet. Are you going to run back into the house, that burning house to get your wallet and all those valuables? Eh, maybe, but probably not, right?

Now let's say that house is burning down. Your house is on fire. It's engulfed in flames. and you know your mom is in the house or your dad. Pick your favorite parent. It doesn't matter. Now are you going to run back into that house? Yeah, probably, right?

You got to go save moms. You can't let mom burn. Can't let mom die? See, mom is a much bigger why than your golf clubs. Got it? So you don't run into the burning house for your golf clubs, but you run into the burning house to save your mom. That's what I mean by the size of your why forces you to produce.

It produces your resourcefulness. It will push you to become a better problem solver. I got a problem. That house is burning. I don't really want to get the, I don't need to go, I don't know how to get my golf clubs out of there without getting burnt. Or the hey, my house is. is burning.

How do I get my mom out of there? I guess I just got to go because the longer I wait, the worse is going to get. That's just going. I'll figure out a way when I get there. Two different approaches to solving the problems, right? So the lesson from this, and I too, I've said this several times before, but it's worth repeating. And even more so, it's worth never forgetting.

The only difference is between you and the person that has what you want, is nothing more than time and the size of their Y. Time and the size of their Y. And, you know, I'm not going to go through a creating your Y exercise today. I've done that before, and I also cover it in detail inside the free real estate investing course. I believe it's lesson two, which you can get at free real estate investing course.com. Instead, I want to test the size of your Y.

I'm going to test the size of your Y. And I'm going to give you a problem to solve. and I believe it's this problem. Should you be able to solve it, I'm going to give you a really good problem because this problem, should you be able to solve it, will realistically make a lot of your other problems, I don't know, drastically shrink or reduce in size,

reduce in intensity, if not disappear entirely. Okay, so that would be a good problem to solve. If you can pick this one problem, basically all your other problems, I mean, if you can pick this one problem to solve, basically all your other problems will disappear. And, you know, I've heard that from some people through email and some of my one-on-one meetings and that I'm very much a mindset-type teacher. I'm very much a mindset type coach.

And that's kind of what we've been talking about. And sometimes I've heard that I'm a little lacking on the meat. Okay, however people define meat and mindset. I really think the mindset is the meat, but I kind of get it. People want to hear tactics, they want to hear strategies, they want to hear, they want to get resources, they want to get tangible to do's. So up to this point in this episode, hey, it's been very much mindset, right? We've got to focus on the why.

Well, let's shift gears. Let's actually take this problem that we're going to solve and address it exactly, of which if you solve that problem, all, so many of you, your other problems are going to disappear, okay? That I can give you my word on that. So, as I see it, if you can solve the problem of lead generation within your business, meaning if you can get to the point where you have more leads than you can follow up with, the easier and better your business will be.

I say this because anyone that ever comes to me with challenges inside their business said, hey, it's just not working or it's not working fast enough, or this doesn't work in my city, It doesn't work in my state. This doesn't work in my neighborhood or with the types of houses I want to do or the types of buildings I want to do. It's I'm doing everything you told me to do, but it's not working. My first question to them is always something to the effect of, okay, it's not working. How many leads a week are you generating? I get a or a few, you know, or five, 10, 15, 20, whatever it may be.

It's typically a low number when people come to me and tell me it's not working. and that's what I mean. If you can solve the problem of lead generation within your business, if you can get to the point where you have more leads than you can follow up with, the easier and better your business will be. People that have lots and lots of leads don't come up to me and say it's not working. That's what I mean by this. Most of the problems you are now experiencing in your business,

and I would dare say in your life overall can be solved directly or indirectly through more leads. More leads is merely more opportunity, your business. especially in the beginning, or even if you've been in the business for a while and you've hit a lull or a plateau, it's going to jump up to the next level or it might skip a level and jump up two or three levels by simply generating more leads.

Now, once you get more leads, you'll create a whole new set of problems. I promise you that. But we can't even deal with that new set of problems to deal, we can't even deal with those problems until you first solve this first problem. And we'll discuss the next set of problems very soon, I'm sure.

But let's tackle this first problem first. Leads. How do we get more? You know, to be a real business, a profitable and lucrative business, you must either become or create. Very important. You must become or create a lead generation machine. And the quality of your lead generation is in the quantity of the leads that you generate.

And the leads that you want are people that need to sell. Those are the leads that you. You want. You want the people, the leads that are people that need to sell their property. Not the people that want to sell their property. See, that's the multiple listing service where a lot of people go and look for leads. It's where they look for deals. It's just a bunch of people that want to sell their property.

No, you want to find the people that need to sell their property. Your deals, your best deals will come from people or leads that need to sell their property. So what I'm going to do is I'm going to give you some leads. on finding leads. And it's up to you to solve the rest of the problem. It's your responsibility to take initiative and become resourceful in finding a solution to this problem of yours.

Hey, and you know what? If you don't want to take on this challenge, if you're like, thanks but no thanks, again, hang it up, quit. Go get a job. And I'm serious. I'm serious. At the very least, don't take another action inside of real estate investing until you reestablish

until you reconnect with your why. Seriously. Seriously. If you don't take on this challenge, your problem is not a lack of leads. Your problem is you simply don't want it enough. The size of your why is smaller than the size of your problems. The size of the problems that everyone will have to tackle inside of real estate investing. Your why isn't big enough.

and you shouldn't take another step inside of this business until it is. Okay? So you can sit with that and do with it what you want, but that I just had to say my piece. Okay. I'd be remiss if I didn't. Okay. So I'm going to give you some leads on generating lots of leads, and I'll lead you through a little bit of the thought process too.

So here it goes. Oh, and you'll probably want to get a pen and paper ready for this one. give you lots of information, a lot of resources, a lot of things to do to generate more leads. Okay? All right. So here's the thought process. This is how I'd start. Okay, I'm a real estate investor.

My number one job is to solve problems. And my first major problem is that I don't have enough leads. I know that a real lead is someone that's likely in a situation that needs to sell. So what types of people would need to sell? sell a property, right? Logic, or you're following the logic there? Good. So let's go through some of the categories of people that would need to sell a property.

So let's talk about, say, divorce, people that are recently divorced. Okay. So someone that's recently divorced. Where can I find people that were recently divorced? That's a question, a problem that you'd have to solve, right? And another question that you'd want to ask yourself is, who do I know that can connect me with these types of people? So where can I find these people on my own?

Or who do I know that can connect me with these people? Maybe there's one or two degrees of separation between you and these people right now. Is there a service that will help me find these people that will find these people for me? And once I find them, how will I contact them? That's another question, right? So we're talking about recently divorced people. Where can I find these types of people? Well, let's see.

I'm not quite sure. I've never actually looked for them directly. I don't know if there are, I don't know, little groups, social groups, social clubs where divorced people go to congregate. I'm sure if I went to Google, I could find one. Never even searched for that before, but I'm sure I could find one. Okay, but maybe I don't want to do that. Maybe I don't want to go and talk to a bunch of divorced people on my own.

So who do I know that can connect me with these types of people? All right. Who interacts with divorced people other than the divorcee and the divorcer? Right? An attorney, correct? Family law attorney. Do you know a family law attorney? Is that someone that you could talk to?

How about is there a service that will find these people for me? Is there a service that will find these people for me? Maybe I don't. know of any groups and I don't know any family laws attorneys. So is there someone that'll actually do it for me? Can I compensate them in some way and they could give me that back in exchange? Right? Well, people that would have that information would certainly be your courthouse. You could go down to your courthouse and ask and they could maybe pull those records for you. I don't know. I've never looked at the courthouse for divorce records, but I know people who have.

I don't know how the process works there. But if I wanted to do that, that's a problem I would have, and I could go solve that problem. Here's in it here. You want to write this website down. TriggerDirect.com. Trigger direct, like a trigger on a pistol on a gun. TriggerDirect.com. And TriggerDirect, I had it up here just a minute ago.

They do marketing. triggered based off of life events. And they actually have a service or they have a list that they would provide of people that were recently divorced. I don't know where they, here it is trigger direct.

So they have consumer event triggering. So anytime someone says builds a new, or does a consumer event, it triggers a list, it triggers a name that goes into a list or a database. So things like new building permits, expectant parents, new parents,

new homeowners, new construction on new homeowners, new construction, new addresses, newlyweds, people recently married. That's probably more for a buyer. But then you can go to some of the consumer financial triggers. And there you have adjusting mortgages. That would be a good one. Delinquent credit card holders.

Where was a, I thought they had the new businesses, mobile marketing, postcard marketing, and they triggered mail campaigns. direct marketing services. They got a bunch of stuff here. And I could have swore I saw recently divorced. Oh yeah, yeah. Duh. New divorce direct marketing.

New divorce direct marketing. So you can find lists of people newly divorced, people that might need to sell their home. Okay. So there's one. And then another one that has it is called ALC milestone. A-L-C-Milesones.com. Another very good service to find recently divorced people.

Now, I'm not saying that you're going to find all the best leads there. I don't know if you will. I don't know if you won't. But that is someone that could be in a situation that needs to sell a property, right? And that's the question we're looking for. We're looking for people that might be in a position where they need to sell. Okay. I thought I had that up here, but I didn't, I guess I didn't pull that out.

But ALC, what was it called? ALCMilesones.com. ALCMilestones.com. So there's another one. So divorce. That's one. How about death? You know, when people die, they leave a house behind most of the time, right?

So that would probably, if they don't have a will or it's not within a trust, it's going to be most likely handled by the state, facilitated by the state, through a process called probate. Okay. So where do you find probates? Where do you find people that are in probate? Well, there are multiple places. You could go to Google and type in where do I find people that are in probate,

recently in probate. You can type just about anything there. But there is a place there that specializes in this called usprobateleads.com. Try them out. U.S. probateleads. Okay. Another thing that causes someone that puts them in a situation where they might need to sell

their property is someone that's in financial distress. It's probably one of the more powerful causes of motivation. It's when sellers are having financial challenges. And ultimately are in need of cash. They've got an issue where cash is going to solve their issue. It's going to solve their problem. I mean, if you've ever been in a tough financial situation where you need cash quickly, then you would absolutely understand this feeling of needing to sell ASAP.

I mean, there are a variety of reasons why a seller would need cash right now versus later. But if you can find a seller who needs quick cash to solve their problem, then you will find some of the greatest leads there are in real estate investing. So financial distress. What are some types of financial distress? Or what are some ways that you can identify people that are in financial distress? Let's see. We talked about it before, pre-foreclosures.

You can also find those at Trigger Direct. They've got short sale leads. Someone that might be coming up into financial distress, would I just mention this, adjusting mortgages. So if they have a mortgage that's going to adjust, that might put them in a financially distressed situation. It pretty much happened to one-third of the country just about in the last five or six years, seven years.

Boy, it's getting further and further back. Delinquent credit card holders. people that are delinquent on their credit cards. That could be a great list. You can find that list at TriggerDirect.com. And I'm not affiliated with this company at all whatsoever. It's just some stuff that I did, some research that I did here before we got started. Let's see.

What are some other signs of financial distress? What about loss of a job? How do we find a list of people that just lost their job? Is it possible? Is it out there? Yes, it is. I found a great site. Lists.

Next mark. Lists. Dot next mark. Let's see if I type this in again to get the exact spelling for you. Lists. That it is right there. Okay, so it's lists, plural, dot next mark. Next, N-E-X-T, M-A-R-K.com.

And there, you can find a list of people that were recently, that were recently fired or let go, or they found they're newly unemployed. Let's put it that way. That could be another way to find people that are financially distressed, right? Let's see. Loss of job, relocation of job. Those are all indicators.

there are relocation services that are that that you can find online. How about, let's say, frustrated sellers, people that have been trying to sell their house, but they've been unable to. Maybe they had it listed with a real estate agent, didn't sell, and now they're what you'd call an expired listing, right? An expired listing. And this is one of the more powerful resources that a, a realtor can provide.

So if you have a real estate license, then you probably already know how to look up on the multiple listing service, expired listings. Or you need to find someone who does have a license who can do this for you. Another indicator sometimes

of frustrated sellers are people that try to sell their home on their own for sale by owners or FISBO. You'll see that frequently. F-S-B-O, F-Z-B-B-F-B-B-F-B-B-B-F-S-B-B-B- by owner. There are definitely services out there that will identify for sale by owners in your area.

Just type in the word FISBO and you will get a plethora, an abundance of results. Another site that actually does both of these for you can generate expired listings, deliver them to your email inbox every single day, and also deliver for sale by owners listings every day is a website called arch agent. Archagent.com. And I'm 99% sure that you do not need to be a real estate agent to get that information. There's another service. Let's see if I can find it real quick.

Oh, okay. There it is. I just researched the old service that I used to use. And apparently it is archagent.com. It's changed its name, and that is where you can find your, you can get your for sale by owners and expired listings delivered right to your inbox. And they even have another cool service there called the power dialer. And it's a service where they'll, it automatically dials the phone number for you, dials your

phone for you. So you don't have to sit there and pick up the phone and keep dialing. And they'll load it up with the for sale by owner leads and they'll load it up with the expired leaves. So very cool service. I used it a long time ago, but it looks like they've done some restructuring and they've changed some names and added some new logos and brands and stuff like that. So you can find that at archagent.com, A-R-C-H-A-G-E-N-T dot com. All right, so there's another one. Hopefully you're writing all this down. You can always rewind if you're missing any part of it. Let's see. Here's my favorite. Frustrated landlords. Real

estate investors that just don't want to be real estate investors for some reason, one, for one reason or the other. And when you find a landlord, typically there are, well, I guess they fall into two categories. They are there by choice and they are there or they are there by necessity, meaning they might have tried to sell that house before, but they couldn't, so they had to hold on to it. And so that's one reason is they were unable to sell it would cause them to be frustrated. Another reason would be vacancies. Maybe they're unable to rent the property or they're tired of dealing with vacancies or repairs or collections or, or or evictions, anything like that.

Or maybe they're just flat out bored and they're retiring. You know, I'm in contract with, for 30 single family residences right now just because the guy is retiring. And so that could be the case as well. So how do you find frustrated landlords? Well, there's two ways to do it. One way, and we've talked about this before, is finding your absentee owner list, absentee owners.

And very easy that you can find those in a multiple places. TriggerDirect. No, no, TriggerDirect does not have. ListSource.com is one that I've always used myself. ListSource.com. Another one that you would be able to find that is through a, a, it's called listability. Listability.com.

R-E-I-Source.com. R-E-I-Source. com. What was the other one? through shoot oh through the multiple listing service

if you have that connection with a real estate agent or you have if you have access to it yourself you can actually absolutely do the title searches and separate your list through looking for out-of-state owners

absentee owners sometimes the wording or the phrasing is non-owner-occupied another way to find distressed or frustrated landlords. And the reason I like frustrated landlords, because a few reasons. One, their real estate investors just like you. So a lot of times what the emotional baggage and the, the sensitivity

that surrounds stuff like divorce or probate or the loss of a job, that doesn't typically always accompany, you know, the frustrated landlord's situation. So they're not emotionally attached to the property. So they'll talk numbers with you and they can be straight. They understand the game in many cases. And that's one reason. The second reason is they typically own more than one property because they're real estate investors. So maybe if that one's not a good deal, maybe something else that they have is a good deal for you. And that's one question I'll always ask people.

If I'm like, well, this one doesn't work, what else you got? That's always a question that I asked. And if they got another property, they'll actually consider it. I've purchased many properties that specific way with that specific question. another way to find frustrated landlords is to go to Google, type in property management and then your area, whether that's your city or your county or your state, depending on the size that you want to cover. And I went to, let's see, I just went before I started recording, I went to property management

Los Angeles, just type that into Google, just like that. And I just clicked on, opened up a window for the top. 10, the top 10 results, and went to each single website and just clicked on search property. And each single property management website gave me a complete different list of properties for rent. So why are they for rent? Well, they're for rent because they're vacant. So it could be a very good source for frustrated landlords.

actually one of my students. Brad Donnelly, that you probably heard several episodes back, he kind of opened my eyes to that idea. See, Brad's a problem solver. He said, how do I find more leads? It's an awesome source, and I've been using it quite extensively since in some of our markets with great results. And so, thanks, Brad, if you're listening. But I pass that on to you, and it's a great way to do it.

And once you find that property address, that's vacant, then you go do a property search or a title search, right? So how do you do a title search? Hey, that's another problem, right? Go ahead and go to Google and type in how to conduct a title search. There's a website called Property Shark. It's a subscription service,

Propertyshark.com, type in an address there, and they will give you the owner's information, how to contact them. There's another website called HomeInfoamax.com, Home InfoMax.com Another place called find theseller.com.

Find the seller.com. So there's three places. I've used Property Shark many times before, but I do have access to the multiple listing service. So if you have that, it's very easy to search title on the multiple listing service. So there's another source, okay? Another source for finding frustrated landlords.

Let's see. Another place where people will need to sell is where their greed is in place. I call them greed leads. So where do you find greedy people? Well, it's hard to put them all into a category and call them greedy, but a really good hunting ground for greedy people who just want cash and want to sell quickly is people that have recently inherited property. I call it the greed lead or the unearned equity. phenomenon. Then what that means is the seller you're dealing with owns a property with a large amount of

equity. And typically they are not the person who built the equity in that property. So in other words, they likely inherited the property. And all of that equity came right along with it. And when this happens, it's almost, I don't know, it's almost kind of like winning the lottery for people. And they just want to cash out as quickly as they can. You know, even when people win the lottery, they'll take the one-time low payout

or they take it dispersed over years, whatever it may be. But people like quick, fast cash. And, you know, that feeling can be very conducive for you to be trading that asset for money much quicker. And the other thing about that was, it was on the top, it's on the tip of my tongue. Oh, also, what also, not just greed plays into that. that, but sometimes the location or the inconvenience of the property. You know, if someone on the East Coast has a family member will a property to them from the West Coast, the person from the East Coast is leading their life.

They don't want to get in a plane and fly all the way to the West Coast just to dispose of a property. And if you are able to contact that person and make it nice and easy and quick for them, that could be an awesome place to find a motivated seller that needs to sell. Got it? Cool. And sources of the inheritance list. How do we find people that have inheritance lists?

Well, I do know of one place that does market a leads or excuse me, inheritance list. And that's USleadslist.com. U.S. leads list.com. There's also another company, and that's kind of a more all-inclusive company called salesteamlive.com. Sales Team Live.com. They have an inheritance list there as well.

I don't know if you can separate it from their full service because what they'll actually do is they'll do the mailing, they'll do the calling or they'll field the calls, they'll do all the selling and they'll filter out all the leads for you. Okay, so that's a cool little service they have over there. Or if you want to get a little bit more ingenious, this is how else you can find a good way to find inheritance leads. When you're doing title searches, again,

you're going to need access to doing that. So either it's going to be a paid subscription like a property shark or through the multiple listing service. Is you look for deed transfers. I think you can even do this through list source. They have a lot of criteria there as well. You can do this through list source as all. List source also.

Look for deed transfers with minimal exchange amounts. So like when you see a house or a deed transferred for a dollar or $10, that's typically going between family members. So that could be very much an inheritance mark or an inheritance identification. Some counties, a lot of them, some counties will actually list the type of transfer that there was. So they'll list it as a cash sale or they'll list it as an inheritance. So look for that. So if you don't want to actually go in and buy it,

but that's a lot of work, but don't worry about that. I'll tell you how to get that done as well. So those are our greed leads. I like to call them greed leads, inheritance. The next one is we've talked about distressed owners and we've talked about them being financially distressed. Well, the property can be distressed also distressed property. It's another very motivating factor and another one of my favorites.

And typically it's distressed because there's lots of deferred maintenance on the property. And that means the property is in need of work before it could be sold. And, you know, very rarely are you going to get a large discount on a home that is in totally perfect condition? So we're looking for properties that have deferred maintenance most of the time. You know, if we can match up the distressed property and have it be owned by a distressed owner, then all the better. But generally, the more deferred maintenance of property has the larger the discount that you're going to be able to get one buying it. And if you can find a property that, you can find a property that needs a large amount of repairs, it might not even be financedable, which would be the best

possible scenario, because that person, the owner would then need to sell to a cash buyer, a cash investor like yourself or like someone on your buyer's list. Okay? So those are some of the different categories of people that might need to sell. So those are places to start looking to solve your problem for more leads. You know, you want to constantly be constantly asking yourself, where can I find these types of people? Can I interact and contact them directly? Or if you can't or you haven't come up with that or if you just flat out don't want to do it, maybe the question is, who do I know that can connect me with these types of people?

Right. So, you know, we talked about our divorce, are recently divorced. That might be through a family law attorney, something. like that. What else? Or divorce, maybe it's, you make a friend with the clerk at the courthouse. Maybe that's a person. So you want to look at who do you know that can connect you with those types of people.

Now, the next question might be, is there a service that will help find these people for me? And I gave you a list of a bunch of sources, a bunch of dot coms. There's a bunch of services out there and there's a bunch of services that all do. you know, that compete. So look for the one that best suits your needs. And then the other one is how will you contact them? This is another really important question. Because you need to contact these people.

You need to talk to them. That's the best use of your time is talking to these people that need to sell their property. So there's two ways to contact them. Either you can initiate the contact and whether you knock on the door or you call, on the phone, you can hunt for your leads that way, or you can fish for them. You can do something that entices them to contact you, which is my preferred way, but both ways work perfectly. So how will I contact them?

Are you going to hunt for them or are you going to fish for them? And a lot of what I've been alluding to, just because I guess it's at the top of my mind, and that's what I do, is I market for them. So I'll direct mail. I'll send them letters. I will send them postcards. I will send them or I will advertise in magazine. or whatever it may be,

anything that's going to entice them to contact you. Or you can go out there and be direct and contact them. I've got a couple clients, my buddy, Tarmo. I gave him a great little strategy up in the San Francisco area. He was saying, how can I get more leads? How can I have a better use of my time and contacting these leads? I said, perfect, this is what you want to do. If you want to be that direct and you want to do it really quickly,

this is what you do. And I did this all the time. And this is really how I built my business in the beginning. is I would locate a house that just recently sold, the more recent the better. Like if it's sold yesterday, I want to be out there today doing what I'm going to share with you, is I would get a printout.

Either I got it from the multiple listing service, but now you can get it from Zillow. No problem. You can get it from a number of sites out there. And you walk on the 20 doors to the right, 20 doors to the left, and then the 40 doors across the street. And you go to, you knock on each door,

and you say something to the effect. Hi, my name is Matt. And, you know, the house the next door just recently sold or the house a few doors down just recently sold. And I was really hoping that my girlfriend and I would be able to buy it. But we missed out on it. But we still really want to buy property in this neighborhood. Do you know anybody in the area that might be selling their property?

It's a very indirect, non-threatening way. It doesn't sound like you're soliciting or anything like that. Just sounds like, hey, I want to live in the area. I want to buy a property in the area. do you know anybody that might be selling? And really you're hoping that that person that you're talking to is you're hoping that they're the ones who are thinking about selling. It's a great way to prospect.

It's a great way to open up the dialogue in a non-threatening way and get people to open up and actually be honest and forthcoming with information. So that's a form of hunting. And Tarmo was up there and he spent the last Sunday doing that. And he said, hey, I think this might work and he's going to do it again this weekend. All right. So that's what you get to decide is how you're going to contact them. Okay, so your problem is how do I generate more leads, right?

I've given that problem to you. And you actually had it before I gave it to you in case you didn't know. And I've given a lot to you. I've given you some ideas. You know, I gave you a lot more than just hints. I mean, I told you exactly where to go find more leads in many cases. And, you know, it was so much more, so much information that, you know, it may sound a bit overwhelming.

You might be totally overwhelmed right now. Oh, my God. what do you say and I got to go back and listen to it or I don't want to do that. It sounds like too much work or too time consuming. You know, what if you don't have the time to do this? I get it. Well, what if you don't have the time to do this? You've got a new problem, don't you?

But wait, you're a real estate investor, right? And what do you do? You solve problems, right? Well, guess what? I don't even want you to do all of this work anyway. I mean, your time is best spent talking to the. those leads that you generate. Your time is best spent writing contracts for those leads that you generate.

And your time is best spent selling those leads properties to your all-cash buyers list. That's what I really want you to do. And I want you to consider delegating as much of this work as possible. Here's what I mean. Decide with what group you want to work with, what potential motivated sellers that you want to work with, which lead group do you want to start working with? And what group of leads? And then hire a virtual assistant.

I want you to hire a virtual assistant and give them a list of all of the corresponding websites that I gave you. And if you didn't get them all, you didn't go back and listen to it again. Give them a list of all the corresponding websites I gave you. And then hire them to do the research and discover which sites provide the best rates in terms for the information that you're looking for. I mean, they'll probably even find, you know, a dozen more for you as well in addition to what I gave you. I don't want you doing that type of work.

You make no money doing that type of work. Then once you find the service that you want, okay, these two or three services, it look like they're going to suit my needs, have your VA do the orders for you. Have them order the lists for you. I don't want you doing that. Have them do it. And then once you've got your lists, now you can go on and you can start knocking on the doors or you can start making the phone calls or you can hire someone to do your direct mail

marketing for you can hire someone to write your yellow letters you can hire someone to to label your postcards or or hire a service online to do it all for you that was the one service that I gave you that I came across a sales team live.com that actually came referred to me by someone inside of a a real estate investor social network that's another place biggerpockets.com write that down bigger pockets dot com I think they even have a a a podcast here on iTunes. But bigger pockets.com is like Facebook for real estate investors. And that's where I got a few of these suggestions.

And I've also got lots of stuff from there, lots of great ideas and tips. I've been able to solve some problems there. Okay. But go hire maybe hire a service to do it all online for you. Or maybe something like I did. I hired my sister-in-law to write my yellow letters for me for 25 cents each. I hired my sister-in-law. Um, maybe you have a sister-in-law.

Maybe you have a child that has good penmanship, maybe, you know, that'll do it for 25 cents each. I don't know. Or, or hire a VA that's here in the continental United States that can hire, that can write the letters for you. Or, or hire your VA, do this. Hire your VA to go to property management sites, make a list of all the vacant houses in your area, then send your VA to another site like a property shark.com or home infomax.com to pull all the,

owner's mailing information. So you get the name of the owner and you get where they live. I mean, you can find a VA, a virtual assistant, to do so much of this for you for four or $5 an hour. Four or $5 an hour.

I use Odesk for this type of stuff. And if you would, if that's something that you're going to go do, my affiliate link for Odesk is leveragemytime.com. Leveragemytime.com. But, I mean, there's so many VA sites out there to choose from.

And if you're like, I don't want to hire a VA, I frequently hear that from people that they don't have enough money to hire a VA. Or they don't want to hire a VA. They'd rather save the money and do it themselves. You know, if that's you, you know, think of it this way. If you don't have enough money to hire a VA at $4 or $5 an hour for 10 to 15 hours a week. Or if you don't want to hire a VA and you'd rather do it all yourself to save the money, do you realize while you're doing the work, it's now you? working for four or five dollars an hour, that's below minimum wage.

That's not why you got into real estate investing to work for four or five dollars an hour. Hire someone else to do that. And then you go do the type of work that pays you hundreds of dollars an hour. It frees you up to make hundreds of dollars an hour so you can pay the four or five dollar an hour person. Now, if you don't know whether you should hire someone or not or do the work yourself, I mean, here's an easy way to to to figure it out. What's your goal per month? Okay?

And let's make it like your worst case scenario. So what's the maximum number of hours per month that you can work, that you're willing to dedicate to your real estate investing business? Let's say you've got a job and you're able to work a couple hours every night and you've got some time on the weekends when the family lets you break away. So you got 20 hours. Let's say you got 20 hours a month to spend on your real estate investing. Now, that's the maximum.

number of hours that you've got available. What's the minimum number of hours you'd like to, or excuse me, the minimum number of houses you'd like to wholesale per month? Okay, say, say you'd be happy with two houses per month. Okay, that's the minimum. What's the minimum price you're willing to accept per each house you wholesale? What's the minimum, what's your minimum deal standards we talked about? $2,500.

Let's say it's $2,500. So that's $5,000 a month, working 20 hours a month. So $5,000, divided by 20 hours. that's $250 an hour that you're earning. So if there's a task that you can get someone else to do for less than $250 an hour, then you should hire that person to do it. It's not a good use of your time.

It's not worth your time. You're worth $250 an hour in the worst case scenario. Okay? All right. Let's imagine that example was, say that was way too ambitious. Okay? Let's say there's no way I could sell a wholesale, two properties a month, working 20 hours a month.

So let's say you're setting aside 80 hours a month for your real estate investing. You're going to work 80 hours a month directly committed and focused on your real estate investing. And you'd be happy with just one deal per month, one deal. And you made a minimum of $2,500 per property. We'll leave that number the same. That's still $31.25 an hour. $31.25 an hour.

So if you can hire someone to do what you do for less than $31.25 an hour, then you should do it. Do you know what types of things you can find people to do at leverage my time.com for $30 an hour? Oh my God. They'll build your house for you. You're worth so much more than that. So why should you spend your time doing $20 an hour work or in this case $4 or $5 an hour work when there's someone out there that will do it at that price while you're working for $31 an hour. Let's start working smart.

Leverage other people's effort. So go to Google and just search for VA. You're going to get a ton of choices. And if you want to save some time, just use the service that I use at leveragemytime.com. Okay? So I've given you a problem to solve. I've gone off of a few tangents.

We've talked about a few different subjects. I'm just really passionate about this specific subject. of you learning how to solve problems and you taking initiative inside of your own business. Because nobody is going to do it for you. You got that? A lot of people out there will teach you how. A lot of people will show you how. And I'll help you as much as I possibly can.

But at the end of the day, I'm just the coach. You're the quarterback on the field. You've got the ball. You've got to make the pass. I can show you how to make the pass. I can show you where to make the pass. I can show you how to do it in the most efficient, effective way that's going to most likely or increase your chances of scoring the touchdown.

But at the end of the day, you've got to make the pass. Okay, so I've given you a ball to pass. I've given you a problem to solve to get more leads. I promise you just about every challenge that you're dealing with in your business right now is going to shrink significantly. It's going to drastically reduce in size, if not totally disappear. if you get more leads. So I walked you through a thought process.

I rambled a little bit, but I was thinking out loud for you. I gave you some great ideas. I gave you some awesome resources. And you've got some holes to fill in now. Not big ones, just small ones. I've taken what was potentially a big problem for you before we got started, and I made it a lot smaller for you. It's a much smaller hole now, or much smaller holes for you to fill.

Now, that's what I've done for you on this episode. And here's what I'd like you to do for me. I'd like you to report back to me with some of your more surprising finds, some of your big discovery, some of your aha moments, some tactics, some new strategies, resources, some new websites, whatever may be. Report back to me with what you learned. And if you do that for me, here's what I'll then do again for you. First, I'm going to share it all back with you right here on the show.

we're going to have this amazing compilation or composition, this amazing collection of all the tactics and the strategies and the resources that everybody found by going through this exercise by setting out to solve this problem. That's what I'm going to do for you. I'm going to give it all back to you right here on the show. Every ounce of what everyone found out is going to be returned back to you on the show. And second, what I'll do, I'll go even bigger and better than that. I'm going to assemble all of it in a nice little e-book and make it available to any of you that want it for free, of course. I'm not going to ask you to give me your email or anything like that. I'm just going to put it on a website and a download link and you can go there.

I'm going to give it back to you. So you have that to help you out should you ever fall into a slump or if you're just, you know, you're ready to scale your lead generation and start implementing different strategies and tapping into different sources and taking your business to the next level. Okay. So send me your results. send me what you found out to Matt at Epic Real Estate.com. Matt at Epic Real Estate.com. And I'll make those results available to you. Deal?

Cool. All right. So that's a long episode. That's it for today. Until next time, to your success, I'm Matt Terrio, living the dream. You've been listening to Epic Real Estate Investing, the world's foremost authority on separating the facts from the BS in real estate investing education. If you enjoyed this show, please take it.

a minute to visit iTunes and share your thoughts. Thanks for listening. We'll see you next time here at Epic Real Estate Investing with Matt Terrio. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.