A comprehensive breakdown for how real estate investors can successfully use skip tracing to improve and grow their business.
Real estate investing has long been a favorite of savvy investors, and for good reason. Real estate has been one of the few things fairly consistent in growth for at least since the 2008 recession, and has even boomed during the latest COVID pandemic. With everyone jumping on the bandwagon, there has been renewed buzz about an old term: skip tracing.
In the past, people associated skip tracing with just trying to locate debtors or bail jumpers looking to avoid being found. Now, it’s one of the hottest tech tools in helping real estate investors stay ahead of competitors – and Versium REACH is the talk of the town.
The first step in real estate investing is locating properties to buy. This could be as simple as seeing one on the street or as sophisticated as using software to locate distressed properties. However, in any case investors are often left with a physical address and a name. Now the investor must figure out how to contact these owners. Here is where skip tracing and Versium REACH come in.
The most important data missing is phone number. The key is to connect the data points of physical address and name with a good contact phone number. Some data append companies only provide one phone number; with Versium Reach you have the option of receiving the best 1 phone number, mobile phone only, or multiple numbers per record. Providing multiple phone numbers improves the probability of reaching your prospect, which could mean the difference between a deal and no deal.
Perhaps the biggest advantage of Versium REACH over other data append services is its pricing. An investor can get started for $250-$300 a month to bring back phone numbers for 15,000 names and addresses which translates to a fraction of the cost of other “per record” services.
Legacy services are slow as well. With Versium REACH, you can get 1000 leads in minutes, while other services will take hours or even days to sift through data and spit out a list of contacts. In that time, a hot property might already be snapped up by a more sophisticated investor using Versium REACH.