Turn “Dead” Leads into Profitable Creative Deals Using Leadflow | Real Estate Investors & Agents Guide

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In this conversation, Jenna Hoover shares her journey into real estate, discussing her transition from the medical field to becoming an investor and agent. She emphasizes the importance of creative deal structuring and leveraging technology, particularly through her software LeadFlow, to identify motivated sellers and streamline the investing process. Jenna also highlights the collaboration opportunities between agents and investors, advocating for a more integrated approach in the real estate market.

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Jenna Hoover (00:00)
And I always tell them like a successful investor can make deals out of the scraps that like other investors throw away. And especially if you’re in competitive markets where there’s a lot of investor competition, a lot of people that are offering way over what they should be on these different properties, then you have to be creative. Like you can have a deal where like it’s they owe 200.

and it’s worth 200 and most wholesalers would be like, that’s a terrible deal. I’m going to walk away from it. But what if you could create it to where you take over their mortgage payment? Let’s say it’s like, let’s just make it up and say it’s like a $2,000 mortgage payment. What if it rents for 3K? Now you’re cash flowing $1,000 every single month. Like you could literally put a bow on that and wholesale it for 10K to somebody. A deal that was not able to be a wholesale, you can create a wholesale.

Dylan Silver (02:17)
Hey folks, welcome back to the show. Today’s guest, Jenna Hoover, is an investor, agent, and software expert with Leadflow. They have an entire real estate investing lifecycle tool that helps find motivated sellers, follow up through an accompanying CRM, and helps with deal analyzation. Jenna, welcome to the show. I always like to start off at the top.

Jenna Hoover (02:40)
Thanks for having me.

Dylan Silver (02:43)
by asking guests how they got into the real estate space. Jenna, how’d you get started in real estate?

Jenna Hoover (02:50)
Well, I always wanted to do real estate. I’d always watch the shows on TV and see all the different transformations. And my background was actually in the medical field. So I went to school for radiology. And everything I ever did, I’d always say like, OK, well, if that doesn’t work out, I always have real estate. Or this didn’t work, I always have real estate. And one day I was at the gym. And I don’t even know if people still use like, was it Pandora radio? And I was listening to Pandora.

An ad for an education company popped up on my phone for a free seminar and I said, all right, let’s go. And so I went to it and then of course it was like, come to our three day events and then join our program. So I went head first into it and decided to invest in my education.

Dylan Silver (03:36)
So you got in on the investing side prior to being a realtor?

Jenna Hoover (03:41)
Yes. So I investor.

Dylan Silver (03:42)
Okay, what was that like? Because a lot

of times ⁓ I can speak for myself personally, I was almost anti realtor before becoming a realtor. was your thought process, hey, I’m going to get started in investing and then I’ll get the real estate license and see how they mesh.

Jenna Hoover (03:59)
Yeah, so I actually went to school for my license before I got into real estate because I knew I wanted to do something real estate related. I always knew I wanted to be an investor, but I had no idea how to do it. Like I didn’t know anybody who did it. I just saw the shows. And so I went to school, got my for for my license, and then I never actually took the test, never did that. And then I got educated, did that for a couple of years.

And then I thought, you know what, I’m just going to go get my license because I just felt like some of the agents in the area, just, not that they didn’t have a respect for investors, but I kind of felt like if I was one of them, then it was going to be a different conversation. So I went and just took the test and did it. So that way I could let myself into properties. I could get referrals for leads. could.

Dylan Silver (04:41)
Yeah.

Jenna Hoover (04:49)
make my own offers, represent my own properties. And honestly, I felt like it was like an instant, like I’m part of the club. As soon as I got my license, that they kind of accepted me as one of their own a little bit.

Dylan Silver (05:49)
I will say it for you. I felt like when I was going through the real estate school that I went to in Fort Worth and I loved going to the classes out there, I became acutely aware that these are two totally different worlds. And I remember they were talking about like wholesalers, which I was a wholesale at the time. And it was like a dirty word. And I was like, my gosh, like, do I have to be in Cogito out here? Do I have to go under the radar because I don’t want people to know that I’m this person that’s, you know, making these offers and you know,

Now that I consider myself a wholesaler agent or investor agent, it is a little bit two different worlds. To your point, sometimes they don’t always mesh. You might have people in the real estate side as agents who don’t necessarily love working with investors.

Jenna Hoover (06:35)
Yeah, I mean, I remember when I first got into it, I was talking to an attorney and I was mentioning about wholesaling. I said, do you specialize in any sort of creative deals? And he’s like, what do you mean? And I said, know, wholesaling and double closes. And he’s like, I don’t know what kind of witchcraft you’re up to, Ms. Hoover, but that’s not something that you can do. And I remember thinking like, man, that’s an attorney I’m not going to use. And same thing with agents.

You start talking, like I had an agent just this week, I said to him, I’m like, hey, would your seller be open to something creative? He’s like, what do mean by creative? I’m like, well, would they be open to some money upfront at closing and then some after the fact? And he’s like, talked to them and they said, yeah. And he’s like, well, present to me what you want to present. And so I put together X amount down, these are the payments, these are the terms. And then of course, he probably screwed it up and then they got cold feet. And it’s just like, man, just move out of the way.

It’s just sometimes I just feel like they don’t get it and because, I mean, you still get your normal commission, calm down and I’ll pay the commission, I’ll pay the closing costs. It’s just sometimes they just don’t get it, but.

Dylan Silver (07:36)
I do want to mention one thing you said, creative. I had this memory. I’m sitting in one of these classes and they said, if you ever get an offer that has creative in it, run. And I’m like, what about all the offers that I had that had creative in it? And it’s ⁓ nice to hear that I’m not the only one who’s encountering this experience. Cause I definitely think that we need actually more of it. would say not less of it, especially you’re in the Northeast how

the price of homes are in the Northeast. I grew up in northern New Jersey and how difficult it can be. If we have more creative deals in addition to more affordable housing, that can solve a lot of problems.

Jenna Hoover (08:16)
Definitely. especially in markets like where like I’ve educated and coached and mentored students for over a decade now.

And I always tell them like a successful investor can make deals out of the scraps that like other investors throw away. And especially if you’re in competitive markets where there’s a lot of investor competition, a lot of people that are offering way over what they should be on these different properties, then you have to be creative. Like you can have a deal where like it’s they owe 200.

and it’s worth 200 and most wholesalers would be like, that’s a terrible deal. I’m going to walk away from it. But what if you could create it to where you take over their mortgage payment? Let’s say it’s like, let’s just make it up and say it’s like a $2,000 mortgage payment. What if it rents for 3K? Now you’re cash flowing $1,000 every single month. Like you could literally put a bow on that and wholesale it for 10K to somebody. A deal that was not able to be a wholesale, you can create a wholesale.

And that’s like what thinking outside of the box, like we really specialize in marketing, but also creative deal structuring where you’re looking at them and it’s like, okay, it doesn’t make sense as this, but how could it make sense? And not like you’re convincing yourself a deal is a deal, but you’re actually looking at it and being like, okay, what are the seller, like what’s their issue? Like when we look at, when we talk to a seller, we look at like four main pillars. Like how much do they want to sell it for or how much do they want to sell it for? When do they want to sell it? Why do they want to sell it? And what’s the condition of that property?

Dylan Silver (09:21)
Yeah.

Jenna Hoover (09:36)
And once we figure out those things, if we can make a solution for their issues, their problems, their timeframe, and get them the price that they want, then really there’s going to be a no brainer. And I mean, not everybody says yes, but you could structure deals like that and do things very creatively. And I feel like it shows that you are different from everybody else because if somebody’s like, okay, here’s my offer A. Okay, well, if you don’t like offer A, I’m going have at least a B and a C.

So that way you’re gonna be able to have a couple different options and it’s not like you’re sitting across the table for me. It’s like we’re side to side. Like, all right, we’re a team here. Your goal is to get it sold, right? Okay, perfect. So let’s figure out how to do this together. And then it’s like, we’re all in the same group here. So I feel like it gets you into doors way better than other things.

Dylan Silver (10:56)
I want to ask you a granular question about dealing with opposing realtors, if you will, and when they’re saying, you know, what’s this creative offer? And maybe they haven’t heard of this before. Maybe they have skepticism. And then, of course, they’re going to be interfacing with their client. Is there anything that, you know, someone who’s a newer realtor can do to broach that? Or is it kind of a difficult task?

Jenna Hoover (11:24)
No, I think that they just have to be open. think that they have to be like the problem I usually find is that they’re not educated and their education basically comes with like a wall. And the more that they lack an education, the more their arms are going to be folded up and they’re going to try to convey to the seller that this is not a good offer. It’s no, it’s just you don’t understand it. So, you know, if they can, it’s almost like get out of the way. Like obviously I can’t communicate with their seller, you know, for protection wise, I get it.

Dylan Silver (11:44)
Yeah.

Jenna Hoover (11:52)
But my goal is to educate them the best that I can so that they can try to convey to that seller the seriousness of my offer and how it’s going to benefit them like it can sit on the market. That’s fine. I’ll just wait to expires and I’ll just go to them directly. So I mean like we don’t.

Dylan Silver (12:05)
I am almost thinking

we need a way for you to communicate directly with the seller so that they can maybe with the realtor together so that everyone understands. But ⁓ I digress here a little bit. I do want to pick, Jenna, and ask you about ⁓ LeadFlow because you’re involved in LeadFlow, which is really doing a number of novel things specifically, which individually would be great tools. ⁓ How did LeadFlow

Jenna Hoover (12:18)
Yeah

Dylan Silver (12:34)
come about and can you break down some use cases for Leaf?

Jenna Hoover (12:38)
Yeah, so it’s a really cool all inclusive software solution. And the cool thing about it is it’s not just for investors, like agents would benefit tremendously from it. And we have a great amount of agents that use our software because the heart of it is lead generation. Like the main part of it is a tool to help us connect with people that we consider a motivated seller. So we can look up things like pre-foreclosures, foreclosures, delinquent tax activity, inherited property.

vacant properties, people that are upside down, like all the things like absentee owner, like all the things that when you’d think of, okay, what would make somebody motivated? And we also incorporate AI. So we’ve been around since 2006. So it’s not like a new thing. And also like we’ve been incorporating AI technology since like for the last six or seven years. So we basically pioneered the way and we have a sellability score where essentially we score all the properties in our system.

on a scale of zero to 1,000, 1,000 being the best, and we’re looking at motivation levels. And we’re pulling in trillions of data points. So essentially, we have 40 years worth of real estate sales data that we have purchased, and we’re looking at all the different things of the past people. So from the 80s until now, all the people that sold, what were the reason why they sold? And we can determine that and then basically put in our genetic algorithm and scrub it against the current people and find

correlations and similarities, and then we score these people. So it’s almost like a sifter tool, where you can put these properties in, sift through them, and it will score them. And so we can target thousands of people, or we could target a couple hundred of the really most motivated of the motivated. And then as an investor, it takes the scary out of it. It’s like, here’s a platform where I could find the people that I know I should talk to. And the bulk of them are off-market, unlisted, unadvertised.

Dylan Silver (14:08)
Okay.

Jenna Hoover (14:28)
There’s no for sale by owner sign in their yard. Now, can we pull in active listings? Heck yeah. Like we’re pulling in live nationwide MLS data from every single region, even in non-disclosure states like Texas, we can pull your sales. And so we can see all that stuff. then so they can pull comps. They can analyze the deal with repair estimator tools. They have, there’s deal analysis tools where they can say, I’m buying it for this, I’m fixing it for this. How much will I make? And is it a deal?

And then scary parts of it is like, how do I get rid of this deal? I’m a wholesaler, I don’t know what to do. Well, we have built-in buyers lists. We have ways we can see all the investors in the area, all the private lenders in the area. So if you’re a rehabber, and we have ways that we can basically blast it out on our network or outside of the network so they can find the deals, analyze the deals, get rid of the deals, stay organized, auto responders. So every part about investing that’s scary.

we have it and even marketing like we can we have unlimited skip trace options they can get all their phone numbers they can direct mail they can even do facebook ads through our system

Dylan Silver (16:14)
As an agent, super niche question, if I’ve got someone coming to me saying, look, really specifically am looking for off-market deals, but I’m an agent, I might not have ton of experience off-market, my experience is on-market, I might be able to find them some deals on-market, it’s difficult, but I might be able to find them some deals. If I’m newer, let’s say, to the off-market space, what’s the learning curve gonna be for me to use Leadflow?

Jenna Hoover (16:42)
think there’s a whole lot of learning curve because it’s designed by investors for investors. I’m part of our development team. So I have investing background. I don’t have a super tech kind of background. And so I’ll get in there and I’m like, here’s what we need. Here’s what somebody like me would need. And then they’ll morph it and they shift it. And we kind of create it for that individual. ways that they can, I mean, the cool thing is, is like they have a connection with all the investors in the area. I would say to them, start tagging up with some of the investors.

Because the way that we look at it is we do marketing and probably I’d say 80 % of our deals, our leads that we get are going to be retail listings. And so if I have an agent that would contact me and say, hi, I’m an agent. I wanted to know if you wanted to work together and be able to offload some of your listings. Yeah. And the thing is, I have connections with all these sellers. If I’m talking to a seller and I’m like, OK, so somebody from my team is going to come see your house Thursday at noon, is that good for you? OK, perfect.

I call that agent, that agent shows up. When that agent walks in the door, they have a 90 % success rate of getting that as a listing when I get them in the door. So if they work with an investor in the area, they have a 90 % success rate of getting 80 % of my leads. I mean, they’d be insane not to want to work with me. And I just do like either a 50 % or a 30 % referral, depending on how warm of a transfer that I, you know.

connect them with that lead. I mean, they’re getting a huge amount of lead flow, but they can do the same thing for themselves. They can literally go and reach out to these people and, you know, could see if they have any interest in selling their property. If they do want to, if they have an interest, well, then they can list it if it’s retail. But then guess what? Now they can instantly become a wholesaler because if it’s something that’s maybe a good investment deal, well, then you could wholesale it to me or push it my way or refer it to me.

So it’s going to get them like really outside of their box, getting them. And it’s nice as an agent because sometimes there’s some major downtimes. Like, you know, it’s one paycheck to the next paycheck and sometimes it’s a big gap in between. So if they can have some consistent flow in between, I mean, that’s going to be a great, great idea for them.

Dylan Silver (18:40)
Yeah.

I have this saying that if you’re specifically on the East Coast, you’ve got to either have a lot of money or think like an investor in order to buy a home, because it’s just where the market is. also for agents themselves, there’s a lot of agents that may be thinking about, hey, I would like to be an investor. Well, where’s a good place to start? Working with investors would be a good place to start. And so this tool really, I could see it merging it for a lot of people.

the way you broke it down I’m seeing like there’s opportunities not just for finding properties but also leads high quality leads that have a high ⁓ Probability that I’ll be able to get the listing ⁓ Jenna we are coming up on on time here though ⁓ Where can folks go to reach out to you or learn more about lead flow?

Jenna Hoover (19:42)
Yeah, so on all my social media, it’s at Jenna buys houses. So J E N N A buys plural B U Y S houses plural. So that’s where I am on all platforms of social media. And then you could just go to leadflow.com to be able to find more info on lead flow.

Dylan Silver (19:58)
Jenna, thank you so much for coming on the show here today.

Jenna Hoover (20:01)
Thanks for having me.

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Turn “Dead” Leads into Profitable Creative Deals Using Leadflow | Real Estate Investors & Agents Guide

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