Today I want to talk about finding free leads. This isn’t some sort of weird secret–this is about very old-fashioned, grassroots real estate investing. How do you find free leads? It’s not that easy.
Realtors are a great source of free leads. You may have to take them out to lunch or coffee, but you won’t have to pay for the leads they send you.
Another great way to start getting free leads is driving for dollars. It’s very simple: you figure out your target market, you get in your car, and you drive up and down the streets in those neighborhoods. Look for abandoned houses in bad condition. Look for stickers and warnings on the door, or boards over the windows. Looks for newspapers collecting on the front porch. These are all signs that no one lives there anymore. Chances are that the owner doesn’t even live anywhere nearby. It could be an old rental or an inherited house, but either way the owner probably wants to get rid of the house. If you find these houses, write down the address, track down the owner through your local title company or city website, and send them a letter. Tell them you’re interested in buying the house, and they’ll probably be very excited to sell it!