Flip Tip Summary
Want to build a better mailing list to generate real estate leads? Sean O’Toole shares some great tips to help make your mailing list even more productive. Check out this great FlipNerd.com Flip Tip!
Flip Tip Transcript:
Mike: Hey, it’s Mike Hambright from FlipNerd.com and we have a quick VIP Flip Tip to share with you from Sean O’Toole, who is the CEO of PropertyRadar, veteran real estate investor as well, on finding the best absentee owner leads for your real estate investing business.
Sean: Hi guys, well one of the most popular lead lists for investors to go after is absentee owners. A lot of people just buy these absentee owner lists without really understanding what’s behind them or how to optimize them.
So a couple quick tips, first of all, these lists are based on typically two things, whether or not the homeowner’s mailing address for their tax bill is the same as the site address or whether or not they get a tax exemption for it being their primary residence, also through the tax assessor. Most companies combine these two and don’t let you pick or choose, so you want to see which of those it is and then you want to think about the area you’re mailing it to.
There are some areas where the same mailing address doesn’t work at all because folks get delivery at P.O. Boxes that can’t get delivery at their home, need to be careful of that because most of these sites won’t pay attention to that. Similarly with the primary residence tax exemption, note that if you’re in a resort town most of these absentee owners are not going to be rentals; they’re going to be second homes or vacation homes. So just understand that point when you’re pulling those lists for the area that you’re working on.
The other thing I’d say is make sure that you’re adding additional value to that list rather than just doing a large blanket. You can focus on things like, you know, property type, size, beds and baths to make sure it’s within your target focus.
But more importantly, look for things like whether it’s owned free and clear, how much equity it has, you know if you’re trying to do deals with seller financing or, you don’t want to mess with things that are underwater, in a short sell you want to make sure that property has equity. So be sure to combine other criteria and focus your list for the most successful absentee owner leads.
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.