If you are an established, experienced property investor then this is a great way to develop your business further and to make extra income.
Once you have your lead generation channels set up you will start to receive many leads, more than you can handle. So why not set up a service where you can sell leads or deals to other investors. If you develop the lead into a deal you can charge between £2,000 and £5,000 per deal, dependent on the discount.
How can you generate leads?
- Newspapers – put a simple ad in the newspaper, stating that you are looking to buy houses.
- Leaflets – get some leaflets printed and deliver them door to door. Bear in mind you have to do thousands of leaflets to start to get results. We would recommend that you deliver these yourself initially to understand how long it takes. That way you won’t get ripped off by a leaflet distribution company.
- Word of mouth – make sure everybody you know or meet knows that you buy houses. You’ll be surprised who starts to tell you about a house that’s for sale or somebody who is desperate to sell.
Sourcing BMV leads online.
BMV stands for below market value. The goal with property sourcing is to find as many targeted BMV leads as possible, for as low a cost as possible and to make the entire process automated.
You can hire a web designer to develop a website for you, but be careful most aren’t marketers, they are typically technical, so might not understand how to set up your site to achieve your goals. Perhaps get some recommendations from other investors who have used a designer already.
Another option is to build your own sites. This is not as difficult as it seems, but we would recommend that you get some good training before you start. There are a couple of things you need to do.
Make sure your website gives a clear message – you need to target motivational sellers. Each website should have a sole purpose. Keep it simple, use common sense. Be friendly, approachable You then need to get traffic to the site – you can’t leave it to chance. One of the ways to generate traffic is to use Google Ad Words, but be warned it can eat your budget in minutes!