Sure, you’d rather drop $1,000 or more on high-quality leads that convert at 10% – 20%, but that’s not a reality for most people trying to find discounted properties! In fact, maybe my favorite part of real estate investing is that ANYONE can jump in, work hard, and build a new life for themselves. You don’t need a massive budget or an army of people working for you. You don’t have to come in with a network of influential people who can refer leads to you. Those things will come later after you’ve gotten down in the trenches, put in the hard work, and flipped several homes first. But what you do need now, today, immediately, are leads for new properties that aren’t on the MLS. So how do you find them?
I’ve found one of the best ways to source new inventory is by using flyers or postcards. But why, and do they really work? Let’s dive in and discuss.
Do Flyers and Postcards Really Work for House Flipping?
Yes, flyers and postcards can be a great way to find new properties that are not on the MLS. Here’s why:
- Flyers and postcards can be customized to target specific areas or neighborhoods.
- Flyers and postcards can be easily distributed at local businesses and events.
- Flyers and postcards can be left in strategic locations, such as near schools or parks.
- Flyers and postcards can be customized with your own logo or branding.
- Flyers and postcards can be targeted to specific zip codes or areas within a zip code.
- Flyers and postcards can be distributed in multiple languages, which is great if you have different cultural reasons in your town.
- They’re pretty cheap, especially as compared to things like Facebook ads or social media tools.
What Should I Put on My Flyers?
You’ll need to test some variables here and there to see which options work best, but here are a few things that typically work on marketing materials:
- Your face: You might groan at this, but it’s effective and makes people less likely to write off your postcards as a scam. Remember, you’re running a business, so invest in things that make you, you know, look like a business. Spend the money and get a professional headshot instead of taking a selfie.
- Your contact info: Obviously. Make it as easy as possible to get in touch with you and consider the ways your target market likes to communicate. Millennials and Gen Z typically prefer email or texting to phone calls, while Gen X and Baby Boomers overall prefer chatting over the phone.
- WIIFM: What’s In It For Me? Why should they bother reaching out to you? You want them to buy property for cheap, but what sets you apart from other real estate agents? You need to have a concise list of reasons why working with you is the better route.
My Favorite Places to Leave Flyers or Cards for Lead Generation
I know it seems old-fashioned, but with a straightforward message like “We Buy Houses,” you only need someone’s attention for a split second to pique their interest.
Some other reasons why they’re great:
- Door hangers are affordable and effective
- You can use them in any neighborhood
- You can target lead gen areas such as apartments, condos, and homes for sale
Go to your grocery store, the gym, churches, gyms, college campuses, and anywhere else you can think of, and pin your flyer right where everyone sees it!
Pros of corkboards:
- You can target a wide range of demographics. We all gotta buy groceries, you know?
- They’re easy to set up and cheap to maintain. Walk by and check to see if there’s any interest and leave more cards if you need to re-up.
The people most likely to sell are those in rough or transition times in their lives, so when I used to do this strategy, I’d do it at payday or other short-term loan places. Can you think of different stores, locations, or events where you can find people who might be in a transitional period?
Pros of cars:
- They’re sure to be seen. You can’t drive with a flyer stuck to your windshield.
- They’re a great way to get leads from people who might not be interested in other marketing methods.
You better believe that whoever owns that property wants to get something for it, and you can help!
Pros of vacant homes:
- There’s clearly a need to unload this house to someone; it might as well be you!
Sponsoring a Local Event
Less pricey than you think! You can often get your name to show up at an event for a couple hundred bucks. You probably won’t get any leads, but what if you have a deal or giveaway going on? Suddenly you’re getting leads from people interested in your product or service. Also, if someone goes to that event and finds your door hanger? They’re more likely to remember you. The name of the game is exposure across multiple mediums.
Pros of local events:
- Exposure to a highly-localized market.
- A great way to network and find new potential business partners, service professionals, etc.
Moving Truck Rentals
A good number of people ready to move haven’t been able to sell their previous home yet! Arrange a deal so that you can put flyers inside the trucks and at the front desk, and you’ll pay them a referral for any properties you purchase. Easy and cheap!
Pros of moving truck rentals:
- You can target people who are already moving.
- You can target people who live in the area.
- Potential to expand your network. Moving companies typically know real estate agents, Inspectors, and other pros you need to have on your side.
These are just a few of the finding strategies out there, but I’ve found these six to have the best returns. Now it’s your turn to get to work and get your name out there!