The Next Sweet Spot For Wholesale Properties
Are property management companies the next hot spot for leads for real estate investors searching for deals on wholesale properties?
While many retail property owners are still misinformed and are trying to list at top of the market prices, many others are waking up to the reality of where the market really is right now. For a variety of owners in different locales, that means distressed properties and motivated sellers and agents.
Why Are Property Management Companies Ripe For Lead Generation?
Everything comes together at this intersection. Renters who are being financially crippled by inflation stop paying their rent, and end up vacating units, or in evictions. Owners who are feeling the pinch in their personal finances are coming up short when it comes to renovating vacant units at today’s sky high material and labor costs.
In turn, these properties become dead weight, a source of financial bleed, and a huge liability for property management companies which are supposed to be servicing them, but aren’t making any money on them.
These companies have large databases of owners. Many of whom want and need to sell.
At the same time, these can be great properties, which can become fantastic income streams with a little sprucing up, and new tenants.
How To Pitch Them For Leads
Cold emailing, and spamming main inboxes is unlikely to be very fruitful. Yet, there are many individuals in these organizations with this information, and who are motivated to help.
Team members in maintenance departments know which properties are sitting idle with deferred maintenance. Leasing agents know which are vacant. Account managers know their clients’ financial situations, and who is actively looking or needing to sell.
You can knock on office doors, call individual extensions, email various departments, and even use ringless voicemail.
While your value proposition should be obvious to this lead source, you can also sweeten the appeal by referring your end buyers back to them for property management service once they are ready for a new tenant.
A well crafted email series, phone script, and text message template can help you tap into these sources of deals at volume.
Remember, if they don’t have owners selling, then they probably have owners who are acquiring, and can be great end buyers for your other wholesale deals.
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