What exactly do you mean by “a lead?” What precisely am I getting?
Not every property that’s off-market is worth pursuing. To narrow down your marketing outreach, we only provide leads that match the following criteria:
- The seller must be facing some form of financial distress that makes them open to selling for less than market value.
- The property cannot yet be listed for sale anywhere, even as a pre-foreclosure.
- You must have a reasonable chance of being the first investor/agent to contact this seller.
- You must have enough information about the property to estimate your max purchase offer before contacting the prospect. Being able to offer an actual dollar amount in the opening sentence of first contact is a gamechanger.
So in practice, you’ll receive an Excel spreadsheet that’s updated every week with the following information for each lead:
- The lead’s problem, such as foreclosure, probate, eviction, judgment, etc… to custom tailor your pitch. This includes course case numbers and specific dollar amounts, when available, so you can do deeper research.
- The property details, such as address, parcel number, units/beds/baths, assessed value, last transfer price/date, etc…
- The first filing date, so you never waste your time on old leads.
- An automated check of Zillow to make sure the property is not listed for sale and to pull the Zestimate as a starting point for estimating equity in the deal.
- We can add many more customization features upon request.
Where do these leads come from and how old are they?
We source our leads only from the official county, circuit and probate court records in your market. Even when these records are behind a paywall, we cover the costs for data collection. There are never any additional fees.
Since we run our searches every week, the oldest lead is only 5 days old. Depending on the type of lead, this gives you a 1-3 month head start to lock down a contract before any public notice is recorded and everyone knows about this off-market opportunity.
How are these leads any different from some generic lead list I can buy for half the price?
It’s all about the timing. Paying for a list of “leads” that are already listed on Zillow or the MLS is a waste of money. You won’t be the first, second or even 10th investor calling them up. The only way to get ahead of the pack is to find the earliest court document that signals a foreclosure or similar opportunity is imminent, but before any public notice is issued. By then it’s too late.
If these leads are so gosh-darned hot, how come you’re selling them?
We’re not a tech company; we’re a small group of active investors that are generating far more data than we could ever use. We would need a massive call center and a few billion more dollars in capital to take advantage of all these leads we’re generating around the country. So until Warren Buffet offers to buy us out, we’re going to share our info with those who can’t invest thousands of dollars and hundreds of hours building up their tech infrastructure.
Note: If you’re working leads in the SE Florida area, feel free to contact us with any contracts you want to wholesale. We’re always searching for more inventory.
How much competition am I looking at with these leads?
Since you’re sourcing these records as soon as they’re available, and before any public notice has been given, you’re eliminating 99% of the competition in your marketplace. Your only “competitors” happen to be our other users. Thanks to the sheer volume of leads available, it’s rare than any one user will contact every potential seller on this list. The vast majority of users filter the raw data and only focus on properties that match their preferred investing niche, such as in a particular zip code, within a certain price range or just multi-unit properties.
For perspective, in our most heavily subscribed market, Broward County, Fl, 40% of the leads are never contacted in any given week.
Even if you happen to double up and contact a seller that another client has also reached out to, that’s rarely a problem because everyone has different goals. For example, a real estate agent is only looking to get a listing contract, not make a cash offer. And even among investors, a wholesaler is going to have a lower max offer amount than a cash buyer. However, that cash buyer will have a completely different valuation method, depending on whether the plan is a quick flip or to acquire an income producing property, which will change their max offer. Then some people only send physical mailings, others call, others send mass text messages.
In short, there’s infinite variety here, which leads to infinite opportunity.
How many leads will I get each week?
There’s no way to know how many foreclosure or probate cases will begin in a given week in your county. That depends upon the county size and broad macroeconomic factors, so there’s no way to predicate the raw number of leads you’ll receive.
However, we can guarantee that you’ll have access to 100% of the available off-market leads in each area. In a rural county, there might be only a handful each week, whereas a large city could generate hundreds of leads each week. Thousands if there’s an economic downturn. No matter how large or small the market though, we’ll make sure you get a “God’s eye view” of every hot off-market opportunity in the area.
Why do some counties have different sources of leads?
In every county, we first target the most important Tier 1 leads: Foreclosures and probates. These are the most motivated sellers and give you the best chance to find serious equity fast. They’re also universally desired by agents, cash investors and wholesalers.
When possible, we try to also source Tier 2 leads, such as divorce filings, evictions, civil judgments, etc… These are sellers in distress, but there’s no guarantee that they’re ready to sell at the moment. So these leads are a lower priority. They will be added eventually, and you’ll get access to them all at no additional charge, but our small tech team prioritizes finding Tier 1 leads in new counties before gathering secondary leads.
