Real Estate Lead Generation | How To Generate Leads

Today's video, we're going to talk about some tools that you'll need to get familiar with the wholesaling journey. Whether it's analyzing deals or contacting sellers, these 3 online tools will streamline your wholesale business in a matter of minutes. Success is all about using the right tools for the job at hand. The right real estate tools can make all the difference on how big you can go, how profitable you are, and how much you enjoy the journey. Let's jump into a few of my favorites. If you're new here, welcome. I'm Joe Homs. I have over 40 years of real estate experience as a realtor, broker, and mentor. This channel is dedicated to helping new and experienced investors of any age create the life they always wanted through real estate. So make sure you subscribe so you never miss a video. The first tool I want to cover is PropertyRadar. This is a regional tool that covers areas like California, Oregon, and Washington. The first thing you need to do is come up to the little 3 left lines up here, and that's going to open up a little side window. And we want to go— I want to talk about first a foreclosure search, which is what we're on. We're going to put an area code— I'm sorry, a zip code, 92630. Oops, that's 92630, and it'll pop up the area code. The next thing I want to do is I want to go to search options. The first one is foreclosure. I want to uncheck third party, which basically means that at the foreclosure auction, a A flipper like me purchased a home. And bank owned, if the bank already owns it, there's no reason for me to even contact anybody. Once that's unchecked, then we're going to press search. It brings us into the area, and as you can see, there are 2 things that come up quickly. P is a pre-foreclosure. So in California, we're a trustee state, and what that means is from the date that you get notified by the bank that you've stopped making your mortgage payment, there's a piece of paper that's called a Notice of Default that's recorded with the county recorder's office. That's where PropertyRadar and other platforms get their information from. And so that process is 3 months, then you go into the A, or auction process, that is 21 days. While you're in the pre-foreclosure process, you can make up that deficiency, the back payments, anything else the bank threw on there, and they'll put you back on a monthly payment plan. You get past that into the auction period, and the bank basically says, we want all our money back at this time because we've given you basically 3 months. Now, that process is legally that number, but, you know, honestly, technically doesn't really coincide with reality. It may take 6 months. It may take a year. For that process to get to the point where the bank finally says, that's it, we're going to foreclose on you. So let me click on one of these Ps here. So the first thing that's going to do is just literally go into overview. And in the overview, what I'm looking for is the estimated value. And so it pulls comps from the immediate area and then it estimates that value. And then I'm looking for equity in Uh, my case, if it doesn't have at least $150,000 in equity, there's really nothing that I can personally do as a flipper for the property. Um, I am a full-time real estate agent, so if these people decided that yes, they wanted to sell the home and it was in saleable condition, uh, then I could help them do that. But it's not something that I could necessarily do As a flipper. So let's see if we can find something. So here's a good example. So we have a condominium that's owned by this person. This provides you with phone numbers, emails, it's got Facebook, Instagram. In this case, it does not have a phone number because there's no phone number icon. But as you can see, the, the estimated value on this is $419,000 and there's $133,000 in equity. So I would put my formulas together and then I would contact this person. So the ways you can contact them is obviously by phone. You can go door knocking. You can go through Facebook and Instagram as well and try to reach out that way. So there's many ways to reach out to these distressed homeowners. The other thing I want to show you about PropertyRadar is the trustee sale schedule. It's in here, and I know a lot of people don't really know So let's change this to Orange County. Probably none today. So we're gonna have to click on— oops, click on, click on here, pick a date. Let's pick next Tuesday, press OK, and then press search. So this tells you what is going to go to auction that day, and you can see the addresses. And if they have a published bid, it'll be on there if they have an opening bid. So let's go to this one that has both. So this property is going to be sold at auction on Tuesday. It's $684,000. You can see there's very little equity. So what's happening in my case is I'm not interested in buying this property from directly from the seller because there's no equity there. So if this property gets foreclosed and the bank has to make a decision, do they want to bring a property back into their inventory Or do they want to sell it to a flipper like me, but at the courthouse steps? Okay, they can sell it for a lot less at the courthouse steps because they don't have to deal with real estate agents and commissions, and they can decide what number they would accept as, as an offer on their— basically their loan. So in this case, has a little bit of equity. It's probably not going to sell anywhere close to the estimated value. They may end up losing— in this case, they may end up losing probably $50,000, $60,000 on this deal, and they'll let it go to a flipper rather than take it back into inventory because it's more expensive to do that. Okay, so make sure that you look at both these areas. If you're interested in learning about courthouse steps and purchasing properties at the courthouse steps, I'll be happy to make another video about that. I can do that. There it is, export. And so you can see the export here and then selected properties. And then I would press export here and then it would export it into an Excel file. Once it gets to the Excel file, it gives me all this information. It gives me property address, names of the owners, the address where they may be living. If it's not that they're living there, if they're living out of state or some other location. Uh, gives me all the details about the property. So I export all that information and then I'll do some tracing on the other end to get the phone numbers and email addresses. Keep watching because I'm going to show you how to find these phone numbers for these motivated distressed sellers. Do you know how to analyze deals? Let me know in the comments below. Next, we're going to go over my MLS search apps where you can search for listings and look for comps. I'm gonna link in the description box below so you can pick it up. Okay, uh, so this is, uh, my MLS app that you can put on your phone. It's directly connected to me, so if you ever have any questions on any of these properties that you see here, you can literally just pick a property and you can share it in, in the message. You can ask me questions. It'll text me and tell me you know, that you may be interested or you want more information about this property. This app comes directly from the Multiple Listing Service and it is updated immediately, not like other apps that you might find online. So this is where you're going to get the most information. So how do we do a search for property that you may be interested in? So let me give you an example. We're going to put up here 23 Lobelia, L-O-B-E-L-I-A, Rancho Santa Margarita. And the reason I'm doing this property is because we're literally closing on this property. This is one of our flips. And so the first thing it does is brings you to the area that is in question and where you want to do your comps. As you can see, it's $550,000, which is the sale price right now, but we're going to take and click on the X where the address was. It's going to immediately go into the green, which is active properties right now in that immediate area, and what we really are interested in is sold properties in that area. So we're going to go up to the top right, we're going to click on filter, We're going to go down to status and we're going to click pending sale, under contract, closed sale. We're going to press done. We're going to go down to the bottom and we're going to press search homes. So now as you can see, this populates the red ones which are the sold ones. So if you're going into this community, you're going to know that, um, the comps are like $525,000, $470,000, $500,000. These are all the closed sales, so you really just start clicking on them, making sure they're exactly like the, the property that you're interested in or very close. Okay, so you can narrow your search down. When you're going into the area, you want to try to stay as close to the property that you're looking at as possible. So let me go out a little bit more here. So for instance, if you go literally across the street, this becomes a single-family neighborhood. So you're not going to comp a condominium in a single-family neighborhood fashion. So the closer you can stay to the actual property that you're interested in, the better off you will be. We purchased that property for— usually shows up here But anyway, we purchased that property for $415,000 about 2 months ago. Contractor went in, rehabbed it in 30 days. We spent around $50,000 for the rehab. And like I said, it's on the market right now. It's ready to— it's actually closing this afternoon for $550,000. So there it is. So you can hear, here's the original $415,000 purchase price, and then the after-repair value is $550,000. I'll just walk you through some of the pictures real quick. This is the rehab pictures of the property itself. I know I'm kind of going quick. We do stage all our properties, so you see all this furniture in there, that's literally staging. And this property, the reason we got it at such a low value is the homeowner decided they wanted to rehab the whole thing but did not have the expertise. They took everything out of the unit, threw their hands up in the air, and said, You know, we don't want it, let's just sell it for whatever we can get. Whatever they can get happened to be $415,000, so we bought it for $415,000, and again, we're closing today at $550,000. So these are the type of deals that you should be looking at. Again, you can put whatever address you want in there and it'll take you to that address, and then once you get there, you can Zoom in or out. Make sure you click on the filter so that you have all these properties in there. So green is active, yellow, orangey, however you want to call it, is in escrow. The red ones are closed properties. To do an after repair value on a property, you really want to concentrate on the red ones. Okay, the green ones are going to give you what the homeowner wants right now. The yellow ones or orange ones tell you that they're in escrow but they haven't determined a closing price yet until they close, and then the red ones are the closed. The next tool is going to help us find the numbers for these distressed homeowners so that we can reach out to them. Okay, the, the website that I like to use right now is called batchskiptracing.com. And if you pull that up on your computer, you'll be able to see it and you'll be able to see pricing as well. And they do have variable pricing in here, so it depends on how much you're going to skip trace. They've got some really great tutorials, and then just really just download a sample of your list just like you see on the screen here, drop it right in here, submit it, And then it goes out to their systems and it matches up the names, phone numbers, addresses, and the results come back in the form of phone numbers, various phone numbers, and email addresses as well. And then from there, we put them into another program to keep track of all that stuff. There's tons of tools to help you in your wholesaling business. These are just a few to get you working faster, and more efficient. Are there any other tools that you're using that you think we should cover? Let me know. And if you're ready to get started building your real estate career and take control of your financial future, please make sure to subscribe or reach out to me anytime.