I’ve got a question. What is the cheapiest and fastest way to find motivated sellers? I want to make major moves towards my goal and need a few ideas.
I am betting if you did a search on here, you would find more responses than you are wanting or willing to read…BUT, I will give you a short list of things I have done or heard done…
- Bandit Signs
- Surf newspapers
- Create website/squeeze page and advertise it (newspaper, craigslist, Adwords, Yahoo Marketing, etc)
- Drive neighborhoods and send letters
- Subscribe to a listing service (don’t know them, don’t use them, but have seen others mention it)
- Search probate records at your county district clerk’s office
- Research estate sales, solicit your services to the estate sales agent for future leads
- Find a real estate attorney that deals with probates to get you some leads
- Befriend a real estate agent that might be able to throw you some leads
The ways are endless. I am sure there are plenty of other ways that I didn’t mention that may or may not work better than the ways I listed.
Hello… Do you mean cheap as in cost or cheap as in ROI?
Cost: Center of Influence and cold callling.
ROI: Full page new paper ads.
Better get them bandit signs out baby. Cost effective, and ohh yeah…Effective.
You cant go wrong with them. Just put them up as high. They will stay up very long this way. The people in charge of taking them down will sit there for 15 minutes in their car trying to figure out how to get it down. lol Then leave and hit the nearest Dunkin Donuts. I’ve see it for myself.
You will burn yourself out trying to drive around trying to find houses. Yeah you can find some this way but… burn that newbie energy off with some more effective methods. :biggrin
I think this statement could be misleading. I think driving and not having any idea what you’re doing is definitely a waste of time. But, I do deals this way all the time.
Don’t get caught up looking for the atypical signs of neglect (high grass, newspapers, flyers on doors). Just find a decent neighborhood in the $80K-$110K range, prefereably built in 60s, 70s, 80s. Then, just look for simple things like date paint colors (teal, peach, etc). Look for burglar bars in neighborhoods that don’t have them any more. Look for older lookin landscape fixtures, etc.
Basically all you’re looking for are clues that the homeowner isn’t very active keeping their house current or fixed. This could mean they’re either tired of dealing with it (if they’re a landlord and don’t live there) or they can’t afford simple upgrades. Either of the two can lead to a contract.
I think that you have answered your own question. You do deals like this all the time. The newbie does not need to dedicate his or her time to only this method only to find houses. Yes, you can, and may find houses like this sometimes, but how may people would rather use the technology that we have these days and make life a lot simpler that harder? I think everyone would rather make things a lot less sweatier if they can.
If this is working for you keep doing it. In the mean time I will be chillin in the AC with my hired help doing the leg work.
Misleading…Can you believe this dude??? :cool
Just letting folks know that you don’t have to keep it old school.
Dealing with a list broker and Buying a list of absentee owners in a 15-25 mile radius of where you live and direct mail them (letters, postcards).
Dwilliams,
Where did you go? Come back and let us know your progress. Would love to know what you decided to do and if it is working out for you.
Can you please tell me how you can buy a list of absentee owners?
Burgh103,
I think they just gave you your answer. Look a little harder at the post you just quoted. :bobble
Oh ok…I guess I have never heard of a list broker :banghead
Go ahead and give it a go. Create a monster that works for you.
I’m still trying to make my first deal. I’ve been using a combination of strategies to locate sellers of properties. Cold calls to FSBO, for rent ads, recent sell to see if they are not only buying but also selling. Driving for leads. Craigs list, back page, postlets. I mostly get calls from other wholesalers from these. I’ve even been cold calling estate and probate attorneys. My best leads have come from the MLS so far.
you can buy a list from list brokers such as melissadata.com usadata.com and few others. You can call them and tell them exactly what you need and they will get the list for you.
Absentee owners are usually those with an address other than the property itself. Usually on the property tax records. List brokers also have what is called “investor list” which is basically those with more than one address or own more than one house. Most of them are accidental landlords.
I dig MellisaData, haven’t used them a in a while but they provided some valuable list when I did.