#149: A MASTERCLASS On Multifamily Direct To Seller Marketing + Doing 400+ Deals By 24 Years Old With Cole Ruud-Johnson
May 9, 2023
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Guest Cole Ruud-Johnson, a young investor from San Diego, shares his expertise on building direct-to-seller pipelines for multifamily investors with 400+ deals completed. Topics include finding data, creating mailing lists, reaching out to owners, and standing out in a crowded market. Differences between marketing to multifamily/commercial and single-family owners are discussed. A must-listen for those interested in off-market deals!
Direct-to-seller marketing is crucial for building your own off-market deal pipeline and taking control of deal flow.
Marketing to multifamily owners requires a relationship-oriented approach, focusing on personal connections, education, and referrals within the tight-knit community.
Cold calling, SMS campaigns, and multiple touchpoints are effective lead generation strategies for finding off-market multifamily deals, emphasizing the value of personalization and persistence.
Deep dives
Importance of Direct-to-Seller Marketing
The podcast episode features an expert, Cole Roode Johnson, who shares his success in building direct-to-seller pipelines for multifamily investors. He emphasizes the importance of going direct-to-seller to build your own off-market deal pipeline and take control of deal flow. He provides tactical insights on finding data, creating mailing lists, and reaching out to multifamily owners, highlighting the need for a strategic and personalized approach to stand out in the market.
Differences in Marketing Single Family and Multifamily Properties
The podcast discusses the differences in marketing strategies between single family homes and multifamily properties. While single family marketing often focuses on urgent financial distress and quick cash offers, marketing to multifamily owners requires a more relationship-oriented approach. The episode emphasizes the need for building personal connections, educating sellers on the benefits of off-market transactions, and leveraging referrals in the tight-knit multifamily community.
Effective Lead Generation and Follow-Up Strategies
The podcast highlights the significance of cold calling and SMS campaigns as effective lead generation strategies for finding off-market multifamily deals. It emphasizes the importance of following up with leads through multiple touchpoints, such as phone calls, emails, and text messages. The episode also introduces the 'six times six rule,' which emphasizes six touchpoints for six days to encourage responses from sellers. Furthermore, it underscores the value of personalization in nurturing leads and maintaining a strong relationship throughout the deal cycle.
Aggregate Data from Multiple Sources
To ensure accuracy and maximize chances of finding potential leads, it is important to gather data from multiple sources. This involves using different data companies and aggregating the information to create the best possible dataset. By mixing up data sources like Reonomy, CoStar, Crexi, Adam Data, CoreLogic, ProspectNow, and PropStream, a comprehensive base core dataset can be created. From there, additional distress indicators and more targeted data can be added to further refine the list.
Building Relationships and Providing Value
When reaching out to potential sellers, it is crucial to prioritize building relationships and offering value beyond just buying their property. By demonstrating genuine interest in their needs and providing assistance or resources related to their situation, a strong rapport can be established. This can involve offering vendor recommendations, advice on managing the proceeds from a sale, or addressing specific concerns they may have. Personalizing communication and focusing on long-term relationship building rather than just completing a transaction sets investors apart in the off-market landscape.
The Multifamily Wealth podcast features Cole Ruud Johnson, a young investor from San Diego who has become a master at building direct-to-seller pipelines for multifamily (and single-family) investors. Having completed 400+ deals in his early twenties, Cole is a true expert on the subject, making this episode incredibly tactical and informative.
In this episode, Cole dives deep into the intricacies of direct-to-seller marketing and prospecting, sharing his knowledge on where to find data, how to create the correct mailing list, and the sequencing and strategy for reaching out to owners. Listeners will learn how to stand out in a crowded market, the difference between marketing to multifamily or commercial real estate owners versus single-family owners, and ultimately, how to take control of their deal flow. This episode is a must-listen for those interested in building their off-market deal pipeline!
Show Notes:
How to build direct-to-seller systems and processes
Cole shares tactics for direct-to-seller marketing and prospecting
The episode includes strategies for reaching out to owners and standing out in the market
Cole explains the difference between marketing to multifamily or commercial real estate owners and marketing to single-family owners
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