02-26-2006, 07:05 PM
| | Referrals -- Your BEST Source For Real Estate Investing Leads
The end goal for your real estate investing business should be to have deals generate other deals, and to have a system that allows deals to come to you without much effort on your part.
Creating a referral network takes a little time and effort, but once you've done it you're set.
here is a really easy way to leverage a deal off of each deal you do.
Simply send out a letter to the 30 closest houses to any house that you buy. Let the homeowners know that:
1) You bought the house at address x.
2) You are looking for fixer-uppers in the area, or homes that people need to sell quickly.
3) You pay $500 to $1,000 for referrals from neighbors.
I started doing this years ago, and found that I would find a homeowner here or there that could send my multiple deals. It sounds very simply, but it really works, doesn't cost much to implement, and will keep you from having to spend so much time prospecting.