Of course it will work. Everything works if done right.

The biggest thing would be getting a list that has been scrubbed against the DNC.

Then you need to choose your market. Purchase, refi, reverse.

The problem with refi is people being upside down. The problem with reverse is that is a market you need to be very careful with, and the purchase market would be weather they actually have any money down.

I would suggest that if you are going to cold call it would be to real estate agents, financial planners, builders and insurance agents or any other professional that you could get to refer you business.

Personally I never cold called. I did all my own lead generation. Craigslist, print classifieds and direct mail. Networking is also critical. Join your chamber, join a leads group. Go to every networking event held by realtors, builders, etc that you can go to.

There is so much information on this forum that you can literralyl take and mold into what you need it to be for your business. Squeezse pages, blogging, lead gen, video, ppc, etc.

Here is a book I wrote which you can buy on Amazon. This is great if you are working with a limited budget.
How To Make Small Classified Ads Pay Off Big In Your Mortgage Business: The Complete Marketing Guide For Loan Officers and Mortgage Brokers To Learn ... Ads To Make The Phone Ring and Generate Leads: Matthew J Allen: 9781449916978: Amazon.com: Books

I would also agree to make sure that you scrub against the DNC and "mrmatt" is dead on with the way he did his marketing. You have to hit every angle in your local community from the Chamber to small business owners groups etc.

A real estate investor asked me to find him sellers for $500 per closing.
Is that a decent amount? And @mrmatt is right about finding valuable
"Profitable" Information

@mrmatt
What is your target market? Buyer, seller, forclosure, short sale?
And how much did you charge per lead?
I am very familiar with classified ads and its marketing strategy

I was in the mortgage business for over 10 years. I did not sell leads, I generated them for myself.

I mainly focused on buyers.

However, I did go after the foreclosure refinance market utilizing hard money lenders. I also focused heavinly in debt consolidation refi loans.

Marketing to people with problems is the key.


Based on your post above you will be bird dogging for a real estate investor.

If I was going to do that I would get a list of forclosures from the county or from an escrow office.

I would then go through each of them to see which ones had equity in their home.

Then I would go and knock on their doors or call them.

Other than that the only other way that you could possibly find distressed sellers is through buying a credit based list with people that are currently behind on their mortgages 30,60,90 days. This way you could get in front of them before the foreclosure process starts.

Or run the typical "I buy houses" type ads. Which do work.

If you seriously get into this what you will find out is that you are only making the $500 while the investor is making 5,10,15,20 thousand plus per deal. But at the same time you don't have holding costs or fix up costs.

After doing this a while you will eventually see what opportunities there are in each deal. At that point in time you may want to put them under contract and flip the contracts vs. just getting the finders fee. You'll make more money that way.

Again after doing this a while you will start to meet more investors, hard money lenders and eventually you may be able to partener with these folks and start splitting the deals.

After that you may be able to start doing these deals on your own.

This game is not easy as all of the gurus and courses tell you it is. It's just like the IM gurus that show you their fat checks and huge pay pal accounts. It is very doable but you are going to need to work your ass off to truly make it in the game.

When I was in the mortgage business I used to get calls all the time and I could tell they just bought the Carleton Sheets course or some other re investing course. I always told them that if there was enough money in the deal the money would be there. Whether that be in the form of bird dogging, contract flipping or actually partenering with someone.

@mrmatt
Thanks for the great value information!
I like your way of thinking and I also see
The bigger picture in the long run. Its like
I'm in that "intern" stage, but people don't
Realize that an intern has so much advantage
That once they learn the fundamentals of the
Game, they will eventually be in the shoes of
There boss. I am not license and is aware
of the laws of what I can and can not do .
So $500 per deal is ok for now and once I
Become his "go to expert", I would like to
Increase my share to atleast $1000 per deal.
I read that finders fee can go up to $2500 per deal
But like you said, "the bigger picture" and I'll soon
will be meeting a lot Of other investors and etc.
I also would like to build a team under me
Birddogging, so I at least can get a cut from those
I train under me. I look at this as a business and
Can be built as an empire if your hearts in it.
I appreciate your tips on where to start finding clients
And I will jump on that. I also know the orbituary (spelled wrong)
Is a place I can look for clients, especially when a family
Member recently died, its an urgent for some families
To get rid of there homes. And those "I buy houses" fliers,
Is also on my marketing list. I have a few other ideas too.
I am familiar with the whole mortgages pymts behind
Because I had a history working at wells fargo morgage
Call center as a telemarketer. I was pretty good at collecting
Late payments for the company and was one of the top
Salesman and was 4 years ago.
That's where I have hope for myself in this market
That with practice, I can deliver even if
Its time consuming. The bigger picture always
Out ways itself.
My question is, where can I buy these credit lists?
with contract flipping do you need a license?
And would it be easier to create a website to attract different investors
To work out split deals with?

My question is, where can I buy these credit lists?

Just do a search online for "credit based lists"

With contract flipping do you need a license?

I don't think so but it is best to find this out for yourself. You're not actually selling the house or listing it. You are just selling your contract.

And would it be easier to create a website to attract different investors
To work out split deals with?

No, investors are not looking for you or your services online. If you want to meet these people there are a couple of options.

1. Go to public real estate auctions.
2. Get copies of recorded trust deeds in your county. Disregard all the ones that were from banks. Look for personal names, family trusts, etc. Then do a reverse look up to try and find their numbers.
3. Many large cities have real estate investment clubs. Look for those, join and start networking.
4. An escrow company may give you a list of known private money investors. If one says no just keep calling around.
5. Due to all of the recent changes with the Dodd-Frank bill you may want to call active mortgage brokers and mortgage bankers (not from the bank) and see if they have a list of private money lenders they would be willing to give you or sell to you. Reason being is that with these changes they can only charge one fee i.e. 1% where as most hard money loans they charge 5%. So many brokers have chosen to go with just doing regular mortgages instead of private money. So they have a list they aren't and can't use anymore. Unless they want to do hard money loans at the lower rate, which quite frankly is not really worth it.

Once you have found one private money lender or real estate investor adn create a relationship with them. They will often refer you to the others that they know if you just ask. Or if you find a deal and one investor is not interested just ask if they know any other investors that would be. Again they will usually refer you to someone else.

This is an important tip for the simple reason that the investor may not be interested in certain types of property i.e. commercial, manufactured homes on land, bare land etc. Just because they are not interested does not mean you found a bad deal.

@mrmatt
Your right!
Ill start with just one
And work for him and
Build a relationship.
I will create a local blog
And use email marketing
With informative common
Questions and answer
problems for buyers so
they are aware That there
problem can Be solved. Thanks again!

You can get credit lists from my friend Al Diberadino at professionaltelemarketingsolutions.com

(Not affiliate link)

Back when my appointment setting room did mortgage leads contracts sometimes, I got mine from him. Very high quality. Not neccesarily cheap. I think 1500 leads costs like $150 bucks... but they are HOT!

-John

@johndurham
Thanks for the info. That's kind of you!
I will bootmark this thread for future.
I already have a few other ways to find
Customers at the moment, but I appreciate it

@mrmatt
You have my mind on this contract flipping
And will research today if I need to be license
To start because if I don't, I rather do that with
The marketing knowledge from this forum,
And ect., I don't want to settle myself short
If that makes sense. That's why I love this forum
B/c you can get feedback from others
Who can open your eyes to a new lane
Thank you!!

No, you don't need a license and I just joined my local REIA group.

John Durham is one of the best for scripts.
He may can assist you with your need

@mrmatt
I have a question, how can I approach getting a real estate agent to give me expired listings?

@mrmatt
I have a question, how can I approach getting a real estate agent to give me expired listings?

@DABK
Thank you for the information and ill go and look into it. I already have been to a meeting and learned a lot so far!

I would agree with DABK. The only way you will get access to that info is if you become a re agent and join the mls.

You are going to face stiff competition on this as lots of agents go after expiring listings.

Based on your previous posts I am not sure why you would want to go after these listings. I would hazard a guess that most of these homes are over priced which is why they did not sell. Or they are hard to finance due to the type of property.

You need to find distressed sellers and distressed property and I seriously doubt that you are going to find that in expired listings. If that was the situation of the seller the re agent would (hopefully) know this and would have priced it right to get it sold quickly.

@mrmatt
Thanks. I've actually gotten several ways to find those type of sellers and that was one of them. I happen to find a birddog to help me reach my goal

hey guys .. I am curious to know .. anyone here bought "targeted" mortgage leads from online channels? If yes, how was your experience? I've read around and I think here someone eluded to the fact that they weren't the best leads? So I'd be interested in hearing out some experiences.

As well, how much did you end up paying? The CC leads mentioned above @ $150 seem pretty cheap imo. I'd doubt conversions would be good on those ... hmm

I hate when people start posting in a thread from over a year ago. It's not like the original poster is going to read this.

With that said, the best way to get mortgage leads is to network with real estate agents and become the go-to mortgage broker.

Mortgage leads are so expensive that I was breaking even at best usually. The difference maker for me was starting to use Zuumlead technology I’m getting about 400% more conversion rate now.*