I’ve been in the real estate investing industry for more than twenty years, so it doesn’t shock me when new real estate investors reach out for advice. One thing they always ask is if I have any tips or tricks for getting leads and closing deals. And at the risk of sounding like a sketchy real estate guru who has the “magic formula” for “getting rich quick,” I do tell them one piece of advice: “Network!”
The real estate investment industry is one built around relationships and trust. Just like those who’ve come to me for advice, you should aim to build relationships with other investors to glean from their knowledge, in hopes that it will help you establish trust within the industry. One way to do this is by joining legitimate real estate investing programs.
How To Get Leads On Your Own
Many new real estate investors decide to test the waters on their own and look for leads without the assistance of a real estate investing program. Their marketing and lead generation strategies may include:
- Paid Marketing: Purchasing online ads, bus stop ads, or billboards can work, but there’s no guarantee you’ll reach the right person. In order to have someone contact you when they want to sell, you either have to saturate the market so much that you’re top-of-mind or wish for luck. You could potentially spend a lot of money and not generate leads.
- Hiring a Realtor: The good part about hiring a realtor is that they are motivated to get you to buy. But, oftentimes, you’re not their only customer and most of their houses are already on the market, meaning there will be a lot of competition.
- Buying Leads Directly: There are a number of lead generation companies, where you pay a fee and they send you leads. The downside to this is that you aren’t the only person being sent these leads and there’s no guarantee that they’ll be quality leads. Essentially, you’re paying someone to do the same research you could do on your own.
These strategies may work for some real estate investors but they don’t come without a price. This sort of expensive uncertainty is why people turn to legitimate real estate investing programs.
Why You Should Find a Legitimate Real Estate Investing Program
If you’re not certain that finding leads on your own will help you meet your goals, consider joining a real estate investing program. There are many benefits to joining a real estate investing program, especially if you’re just starting out. Many of them offer lead generation services, training, mentorship, tools and resources, and assist in building that trust I mentioned earlier.
We talked above about the challenges of marketing your real estate business. Think about it from the point of view of someone with a distressed property who needs to sell fast. It’s not likely that they’ll want to spend a ton of time searching Craigslist for someone with a trustworthy-looking ad. They’re going to call someone they know.
That’s what makes joining a real estate investing program with name recognition so important. When you’re associated with a popular program, you reap the benefits of that popularity which often include trust and quality leads.
Lead Generation Services
When you join a real estate investing program that offers more than lead generation services, even if there is a fee, you’re often getting more bang for your buck. Your chances of receiving a quality lead are greater, especially if the program has the name recognition you need.
With regards to lead generation services, you want a real estate investing program that:
- gets leads from owners of distressed houses before they are on the market, reducing competition, and
- sends those leads your way as part of their program.
Once you’ve received quality leads, it helps to have had comprehensive training to know the next steps.
There’s a lot to learn about the real estate investing industry—from the terminology to how to get financing and tips for finding the best deals. There are tons of resources out there, even real estate investing YouTube channels, but it may be tough to make sense of it all without comprehensive training to support you.
Comprehensive training isn’t just a lecture or a quick video. It isn’t something pre-recorded that might not be relevant to the current market. A comprehensive real estate training program teaches you how to:
- find, cultivate, and manage leads
- value a property’s ROI
- close a deal and actually buy a house
- find financing to realize your opportunities
- plan your exit strategy (whether that’s wholesaling, rehabbing, selling, or renting)
In addition to training, a real estate investing program that also offers mentorship can assist you in your networking efforts.
Learning from your own experience is great, but it can also be beneficial to learn from the experience of others. A real estate investment program that has mentoring services can be invaluable. Oftentimes, mentors in the real estate investment industry can talk to you about the market, the industry as a whole, deal-making, and even offer tips and tricks to add value to your business.
When determining if a mentor is a good fit, I ask the following:
- Is the mentor currently working as an investor? (i.e. Do they still have their finger on the pulse of the market?)
- Will they help me continually build upon my skills?
- Are they experts in all aspects of the field, including legal and financial?
- Do they have a network of people, like contractors and maybe buyers, they can plug me into?
- Are they local and know what I need?
I’ve found that you can learn a lot about real estate investing by simply talking shop with seasoned real estate investors.
Once you’ve been introduced to mentors and had proper training, you’ll be able to use the available tools and resources to enhance your business.
Tools and Resources
A legitimate real estate investing program will not only provide you with training, mentorship, and leads, but they’ll also give you the necessary tools and resources to help you reach your full potential.
Some of these can include:
- Tools to make it easier to find financing at rates that work for you
- Resources to help you increase your industry knowledge
- Tools to evaluate potential ROI
- Tools to manage your lead pipeline
- Accounting and payment tools
There are many real estate investing programs out there but not all will offer you the above benefits. When comparing real estate investing programs for potential and value, you want to make sure they are a good fit for your specific needs.
What To Watch Out For in a Real Estate Investing Program
Speaking of comparing real estate investing programs…I’ve come to learn that there’s a distinction to make—there are legitimate real estate investing programs and then there are those that just want your money. You’ll soon be able to make that distinction as well and hopefully, it doesn’t cost you anything.
Here’s what to watch out for when searching for a real estate investing program:
- Programs that promise quick returns
- Programs that have a limited timeframe
- Programs that are just pre-recorded videos without any personal context
- Programs that pressure you to keep buying more things in order to “make the most out of your initial investment”
When you make an investment, you’re expecting a return. You don’t want to invest in a real estate investing program that doesn’t offer you everything you need in return. Instead, you should join a real estate investing program that provides you with the resources you need to succeed.
Finding the Best Real Estate Investing Program
As an independently owned and operated HomeVestors® franchise, I know a thing or two about a good real estate investing program. Prior to joining HomeVestors®, I was entirely independent, and I worked for other real estate investment companies. As an independently owned and operated franchise, I have the best of both worlds: I’m operating my own business and I also have the support of a well-known and trusted program.
HomeVestors® has been around since 1996. Their nationally-known “We Buy Ugly Houses®” ad campaign is the most powerful marketing tool in the industry, making it a quality lead-generating machine. Through strong marketing efforts, motivated sellers in financial distress have learned who to contact when they need “solutions for their ugly situation®”—franchisees like me. I get easy access to quality leads by being a part of an established brand that homeowners already trust. My job, then, is to keep their trust by offering a fair deal that not only helps to build my property portfolio, but that also prevents their circumstances from getting any uglier.
If you’re looking for a legitimate real estate investing program, HomeVestors® has the proprietary tools, resources, comprehensive training and mentoring program run by working professionals to help you grow your business. To improve your real estate investment business, request information about becoming a franchisee today.