Picture this - you've found a potential property for investment, you've done all your initial research, and the numbers look promising.
Now all you have to do is get in touch with the owner to negotiate a deal. But you hit a roadblock. The contact data for the property owner is hard to come by.
Does this scenario sound familiar? As a real estate investor, you are likely to face this problem more often than you would like to. This is because the accuracy and availability of property owner contact data is crucial to your success in real estate investing. Bad or missing contact data is, unequivocally, a deal-breaker.
But why is contact data so important? In essence, contact data starts the communication thread that can lead to fruitful business transactions. It's the key to direct deal sourcing, building relationships, and successful negotiations. Whether you are eyeing wholesale real estate, rental properties, or investing in large-scale real estate projects, having the right contact data is a fundamental requirement.
The natural question that arises now is where do you get hold of this vital data? The usual sources are public records, online networking platforms, and real estate software like DealMachine.
Then there's skip tracing, an advanced solution that real estate investors often resort to. Skip tracing is the process of locating a person's whereabouts (in this case, the property owner) through comprehensive public and private records. It's like detective work in the traditional form, which sure does make it intriguing but quite time-consuming and calls for a particular skill set.
However, DealMachine leveled up the game in skip tracing with our Unlimited Contact Information. Gone are the days of being a detective to hunt down property owner phone numbers. Leads are automatically matched with contact data. DealMachine has an overall match rate of 85%, which is above industry standard.
Once you have collected all the relevant data, it's important to manage it efficiently. CSV format comes in handy for this process, or if you are in DealMachine, simply having the property in your leads list works great. It’s simple yet powerful, allowing you to organize your contact data in a systematic, easily-accessible manner. Phone numbers, email addresses, and ownership details, all can be neatly aligned and utilized when required.
However, gathering personal contact information isn't a wild west. Regulating bodies have put stringent rules and regulations in place to protect an individual's privacy. It's essential to ensure that your process of data collection and usage is compliant with these regulations to avoid legal complications.
Let's understand this with an example. We have a real estate investor, let's call her Jane. Jane has years of experience in buying and holding properties, but lately, she has been struggling with sourcing good deals because all her traditional sources are either too competitive or just not producing the desired outcomes.
Then, she gets to know about the proper utilization of contact data. Jane starts with public records and goes on to platforms like DealMachine. She then gets a leads list together to maintain all the data. Whenever she finds a potential property, she can verify the ownership details, get hold of the contact information, and touch base directly, cutting out any middlemen.
Due to this new approach, her business gets a significant boost. She closes more deals, builds more connections, and all while being in compliance with privacy regulations.
Quite a transformation, right? That's the power of effective contact data collection and management.
That being said, the whole process may appear a bit overwhelming to many. This is where DealMachine comes into picture. It helps you find unlimited contact info for property owners and manage it efficiently. Our reliable solutions specifically designed for real estate investors simplify the process of collecting contact information and ensure they are compliant with the regulations, providing you with a hassle-free experience.
In conclusion, contact data is not just a fancy term in real estate investing. It's a critical cog in the wheel that sets the stage for successful real estate deals. So next time you set eyes on a lucrative property, remember, accurate contact data can be your make or break.