Generating quality leads is keen for any marketer, especially for real estate investors seeking motivated sellers or cash buyers. And while many treat it as a volume game, sending out hundreds or even thousands of emails and letters, Erik Stark has devised a unique system that entices qualified sellers and buyers to reach out to him instead. Erik is the co-creator and co-founder of The Drunk Letter and SmartSell Property Selling System. Based in Florida, Erik focuses his investing in the metro Detroit area and joins the show to share his best tips on creating successful lead generation systems.
Key Market Insights
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An honorary Fortune Builders student from using the systems after meeting Than, JB, Paul and Conrad
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Born and raised in Michigan, moved to South Florida in 2013
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Focused on investing in Oakland and Macomb counties in Michigan
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Commercial investor with multifamily (over 10 years)
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Had a knack for buying and selling – used to flip cars, repair bikes
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Partnered with Steve Mills to help boots on the ground to manage the day to day and is the “visionary”
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Working on a 10,000 sq. ft. co-work space near downtown
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Positioned himself as a guy who would maximize every deal they take down
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Easiest to borrow money from people already investing in real estate
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Title companies are excellent resources for private money
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Look for high density parts of town with zoning upside
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Deals with untraditional sells, Erik team breaks down the multiple ways
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Created the SmartSell Property Selling System, which sends a book to potential sellers on how to sell fast for more money and less hassle
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The Drunk Letter was put together to attract fast closing cash buyers
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After closing on a property, would get a list of people who purchased property in the last 120 days “I desperately need to sell my property at this address, I’ve had it listed and I just need to get it sold “
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Stuffed in an envelope (not folded, use the return address of the property)
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All deal hunting starts with zoning map infill land development, from current land use to future land use
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Go deep not wide, stay away from the mass mailers
Bull’s Eye Tips:
Winning Your Market: Work a strategy; stop chasing opportunity
Tracking Market Changes: Watch the data, pay attention to days on market, look for a plateau, focus on cost per square foot
Daily Habit: Work on myself first
Resources:
Real Estate Why You Drive podcast
3 Overlooked Sources for Private Money
Digital Resources
Tweet This: “People get into real estate for the ability to be free” – @theerikstark
“When borrowing money, offer, never ask”- @theerikstark
“Educate and build relationships with potential sellers”- @theerikstark
Places to Grab a Bite in Boca Raton:
Connect with Erik:
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