THe purpose of this post is simply to get some ideas/motivation for myself, because I’m starting to get frustrated. I see tons of posts on here that getting motivated sellers is the easy part, but buyers is the hard part. I’m getting frustrated in trying to find sellers. I am very new to this so I’m sure theres something I’m missing or not doing right.
I’ve only done 1 deal (which I go through CL) but it fell through. In that case I had a TON of buyers asking me about it just through advertising the property, so I don’t quite see why finding buyers is such a hard thing. If a deals a deal, then it’s going to get seen and picked up.
The ways I’ve tried marketing so far are as follows:
Driving around - Man I hear people talking about the deals they found doing this, but with my luck I never find anything!!! I’ve drivin for hours all over different parts of Dallas. I go to just average areas (not crack areas and not expensive areas).
CL and news classifieds - The only things I see on both of these are overpriced properties (not motivated sellers). The deal I found through this was through a wholesaler and NOT a motivated seller. the way the deal would have worked out was him assigning me the contract and then me in turn assigning mine out.
Pre-foreclosure list - Why did I spend the $50 for the list for this month??! I mean you buy this list and with only about 20 days prior to auction have to find some way to either direct mail or call them AND close the deal before it goes to auction. This is likely impossible, unless you call/door knock. Out of the 70 people or so I’ve looked up, I’ve only been able to find about 10 public phone #'s total. Out of those 10, no one picked up and I was only able to leave VM messages for 2. About 5 of them were disconnected. Unless there’s something I’m missing, talk about a waste of time…
Expired listings - This method seems somewhat plausible, but i have my concerns. I hooked up with a realtor to get my expireds after 90 days. He has sent me about 50 so far and everyday I get about 15-20 new ones. There is no way to mail to all of these people! Nor does it make sense, nor do I have the money to do that!! I don’t understand how you tell which ones to target??! You have a list of 50 properties (new, old, run down, excellent, updated, outdated, etc…). If you start some mail campaign to these guys, you don’t want to send 5-10 seperate letters to someone that has a new house and isn’t motivated to sell, right?? It’s a waste of time/money when you don’t know who/how to target people in this niche. What am I missing here??
Bandit signs - I’ve put out 90 bandit signs ALL over my city. I’ve put them on highway service roads to around neighborhoods I’m targeting. I spent about 6 hours putting that crap up in the middle of the night. Out of all of them, the ONLY calls I got were from 3 people harrassing me about the signs, 1 city official (or so he claimed) that I’d be fined if I kept putting them up, 1 investor looking to network, and finally 1 and only 1 motivated seller (who had no equity in her house at all). Not to mention this method is illegal.
I’m kinda at a point where I don’t know what to do here guys. It seems to me that in this market I should be finding alot of motivated sellers, but I’m not. Any advice, concerns, or criticisms would be greatly appreciated.