Flip Tip Summary
It’s common, as real estate investors, to have a hard time finding some long lost family member that is the key contact on a deal. In this FlipNerd.com Flip Tip, Kevin Bupp shares advice on how to find hard to reach people.
Flip Tip Transcript:
Kevin: Like I mentioned to you, we do mobile home parks. We built a data base out and we do a lot of cold calling campaigns through that data bases owners. What you’ll find is when you start getting commercial properties, most commercial properties are owned within individual entities – LLC’s and incorporations. It’s pretty hard to track down sometimes, the owners of that entity or that LLC. That’s how we want to get in touch with them. We want to get in touch with the individuals that own it.
There’s a service called TLO.com that was referred to me about four months ago. It’s been absolute gold for our business. The unique thing about TLO is that we can find the owners of the entity, which you can actually find in most states. You can go to department of state websites and things like that and find the owners of an individual entity. But what you can’t find, a lot of times you can’t find the owner’s actual home mailing address, and you can’t find cell phone numbers. Cell phone numbers are gold today because most people don’t have land lines anymore.
This service is about 98% accurate. It will give you cell phone numbers that are on file for that person. It extracts the data directly from the credit bureaus, so it’s information that repo agencies and other credit agencies use to track people down. It’s just been awesome for our business. It’s a good service. You have to pay for it, it’s about $1/search, but if you’re looking to tracking people down, and you’re looking to make cold calls to property owners, this is by far the best service that I have ever seen.
Mike: Thank you for joining us for another FlipNerd Flip Tip.
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Mike: Please note the views and opinions expressed by the individuals in this program do not necessarily reflect those of FlipNerd.com or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.