The biggest complaint new investors typically have is how much more difficult the real estate world is than they originally imagined. Instead of making an offer on their choice of five different properties, they will struggle to find one that is to their liking or they can realistically buy. This leads to frustration. For some, it will lead them to a new career. Those who stick around in the business know that it takes much more work than imagined just to secure one deal. One of the hidden ways to find deals is to knock on doors and interact with sellers. This may be boring and certainly not easy, but it can be very effective. Try driving for dollars if you are in need of leads.
Before the days of the Internet and lead generation services, door knocking was the main source of new leads. Just as it sounds, you take an area that you desire and simply go door to door knocking and introducing yourself and your services. For those people who are not comfortable with rejection, it takes some getting used to. The difference is that while you are ultimately looking to buy their property, you do not need to put that out there from the initial conversation. Eventually you will get a script that you feel more comfortable with the more houses you go to. After time, you will begin to generate more leads.
The biggest reason that people use other people for a specific service is because they trust them. It is very difficult to gain any trust from a letter you received in your mailbox or an email in your spam folder. By knocking on doors you will need to talk to quite a few homeowners to get a decent lead, but that lead will be much more likely to want to work with you than if they received a postcard from you. Like any other type of sales, your pitch, approach and personality are critical. If you go in asking how much it would take for them to move out, you will probably be asked to get off their front porch. Conversely, if you tell them what you do and ask them if they know anyone on the street or in the area that may be thinking of selling, you have a much better chance at them remembering you and ultimately using you.
You can start with a distressed homeowner list or simply take an area and go to the worst houses on the block. Start by seeing if the person you are speaking with is the owner and go from there. You may spend 20 minutes talking to a homeowner who eventually tells you to get lost, but it is that one homeowner you strike an accord with that will make this practice worth it. Door knocking and driving for dollars costs you nothing more than gas and time . If you are just starting out, you can probably afford both. It may take 50 or so houses, but if you can get just one deal it will be worth it.
There are always ways to find deals and to get business. It is out there for those who will do anything for it and not take no for an answer. If you are short on leads, consider door knocking.
