Generating leads is an essential part of your real estate wholesaling business. One technique implemented in this business is driving for leads. This entails driving neighborhoods in your target market to find property leads. Discover other marketing leads by checking out 6 Marketing Strategies Every REI Should Know.
There are three essential steps to take to generate the best quality of leads and they will be broken into 3 segments. In these posts, we will touch on the basic three elements to driving for leads which are Planning, Organization and Search.
Today, we will discuss part 1 of the Driving for Leads segment which is the Planning Stage- what to do before you head out. It is assumed you have already selected the target market area you wish to invest in.
When starting out, most people start their wholesaling business part-time which will require looking into their life’s schedule to determine the days with the greater amount of blocked time.
Fitting time into your schedule requires the right amount of planning. When you are driving for leads, you want to make the most of the time you have available during the week. The first thing you need to do is decide on the days, time and the number of hours you plan to drive.
During the days you plan to search, you want to make sure you have collected a certain amount of property leads. Be sure to plan your schedule when there isn’t much traffic. You will be driving down each street slowly and jotting down information, so be sure you take this under consideration.
If you want to plan your days during the week, consider afternoons or late evenings. If weekends work best for you, try early mornings. These time-frames have the least amount of congestion.
Finally, decide how many hours you plan to drive a week. If you plan on driving for leads 3 days a week, plan on devoting at least 2-4 hours each day. The more time you put into your searches, the more leads you could have to turn into deals. It is said that it’s a numbers game and success in this business depends on the amount of leads you find.
This all begins with knowing your schedule beforehand. But during these searches, you will need to plan out the necessities required for your trip.
You will need to pack a few things to help your search go more smoothly.
- A clip board– to keep your papers from falling all over the place. This will work great with a note pad.
- A camera or your cellphone- this will allow you to take some pictures to help you remember details about the properties your searched.
- A couple of pens– in case one drops or gets lost in between the seats
- A snack– you don’t want to stop in the middle of your planned route to find something to eat or drink.
The list above, will save you time and frustration when driving for leads and it will be a time saver when performing property pre-due diligence.
The driving for leads planning stage is essential to getting the most out of the time you have to devote to this business. Decide the days that work best for your schedule and commit to driving different neighborhoods for at least 2 hours each. Download our free “Weekly Task Scheduler” to help you with planning out the time in your personal and work life.
The key to lead finding success is organization and in the next post, we will discuss what is needed when you are on a property search. Until then, we hope you take the information you received today and start planning how you can make driving for leads work for you.
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We wish you the best.
Supreme Investing Group, LLC