An Easy Way to Create A Stream Qualified Real Estate Leads for Your Business

I just conducted an interview with Darren Dicke… a very successful investor who wholesales houses in Columbus, Ohio. During the interview, Darren shared with me a KIILER TIP about how he finds and sells wholesale deals — so simple and brilliant — and I wanted to share it with you today. Darren calls this tip “Driving for Dollars”. Here’s how it works…

Darren simply gets in his car and drives around Columbus looking for homes with “For Rent” signs in the front yard. When he see one, he pulls over, gets out his cell phone and calls the number on the sign, and asks the owner (the landlord) these 4 important questions:

1. “I’m calling about the house you have for rent on 123 Birch Ave. Would you be interested in selling the house?” (If they answer “no”, he asks…) 2. “Do you own any other houses you’d be interested in selling?” (If this answer is “no” to this question, he then asks…) 3. “Do you know anyone else who has houses that they may be interested in selling?” (If this question is also answered “no”, he asks…) 4. “Are you looking to build your personal portfolio? From time to time, I come across houses in this neighborhood. Would you like me contact you when I know of a house that becomes available for sale in the area?”

Amazingly, just about half of all the deals that Darren does is a result of him asking those questions to landlords. The first 3 questions get him the necessary seller leads, and the fourth question adds qualified names to his buyers list (landlord buyers). If any of the first 3 are answered with a “yes”, then he treats it like a typical seller lead. While he was telling me this strategy, I suddenly thought that you could also apply this technique to houses you see advertised for rent on Craigslist.com, in your local newspaper, and in the Thrifty Nickel and Greensheet papers.

So that’s all there is to it! Just contact landlords with “for rent” signs and ask them these 4 questions. You will eventually find some motivated sellers (burned-out landlords) and great qualified landlord buyers (for all your deals) that could turn into a nice stream of income for you.

If you want to learn more about real estate investing and “The REI Lifestyle,” please visit Wholesale Real Estate, then visit Michael Kimble’s blog at Wholesale Real Estate blog.