Does anyone know of any way to get listings for people who have been layed off or have large medical bills? I figured these people would surely need some help unloading their homes, and was thinking of marketing to them, but can’t find a good source for a listing.
a great way to discover leads is in the newspaper, where the notices of foreclosure or default are located.
Yeah, that’s probablly the first source most investors look at for motivated sellers. Too much competition.
Someone just replied to my post at dealmakerscafe.com and said that unemployment offices would give this info out? Is that right? I didn’t think that they would. Maybe they do though.
In Florida, where I buy homes, it is public record when a person gets a judgment filed against them.
You could go online and get a list of anyone with a new judgement each day, see which ones are from hospitals, doctors and so forth and then cross reference to see if they own any real estate.
However, medical bills are a little different. As long as you are paying something they usually will not take action.
Go to the courthouse each week and get a list of divorces
Divorces are usually listed in local newspapers, too. I’ve been marketing to them for awhile now. I’ve found that most people who are motivated sellers can been found in either the local newspaper, online, or at the county courthouse fairly easily. People who have large medical bills(other than medical liens), and people who have been layed-off are hard to find a listing for.
But if you go to the courthouse, you can probably get to them before the other vultures.
personnal Unemployment data is not public record and to provide such information would be a violation of privacy laws. They can however give you general statistical data.
But if you want to find people at the unemployment stage just go put a flier on the cars in the parking lot at the unemployment office on a regular basis even a few times a day. People come to the unemployment office to get set up with a claim, to get a job, and to plead their case when they have been cut off. If you can get your message to the later of the three it may help your marketing efforts.
Where in the court house do you find the info?
Does anyone know how to find homeowners with credit problems or homeowners who have a job transfer?
Unfortunately, there is no list of people with bad credit, or people about to have a job transfer.
What you need to do is find the population of people where this would have the greatest impact. For instance, someone who got a 100% LTV mortgage last year and suddenly lost there job. How will they sell their house quickly if it’s marked up to cover the realtor tax…I mean fee, etc, etc.
Focus on the newer high LTV loans. If you reach out to people like this, you will inevitably stumble upon a few that just had the job loss, the transfer, the divorce or where they just got over their heads and need to sell the house.
Of course, this is just one way to get the phone to ring. There are others that I like even better.
Well, for the most part I do wholsaling. So, high LTV properties aren’t something I usually look at.
Well, I’ve got a nice list of different types of motivated sellers that I can find lists for. So, those should be enough. I’ll just have to depend on word of mouth to find other types of motivated sellers. Thanks for the help.
I guess all I think about is Subto, so high LTV is usually what I’m looking for. I keep forgetting this is a multi-topic forum
What do you do with properties with high LTV??
a) For sure, they won’t cash flow since it is almost
priced as much as retail (20 or 30 yr note).
b) One cannot flip, since it is close to retail price
My questions stem from your answer, and another question in the thread, posted today. How would one find someone that has a high LTV mortgage?
Other than doing a lease/option or option, what other exit solutions would there be?
Lists for motivated sellers in the wholesale market? I didn’t know such a thing existed! Where do I find such a list?
Well, I don’t just get one list from one source. I get sellers who are divorcees, in foreclosure, had a recent death of a loved one, etc. You can get most people in motivated situations from your local newspaper or on the net.
I’m very new and pretty much in the research phaze. My goal this week is to go to the courthouse and find the ‘distressed’ people but where on the net can you find a list of people who are ‘distressed’?
I don’t just go find a list on the net. I actually make my own list from various sources. Check out your local newspaper or their website. Look in the obituaries for recently deceased people, and look up their name in the county records to see if they owned any property. Market to any surviving spouse or heirs. Also look up recent divorce cases(my local newspaper shows these once a week) and check the county records if they own any property. Look in the classifieds for FSBO and FRBO properties that are owned by someone with only one other property other than their own personal residence. Often these people bought a new home, but and are stuck with their old home or had trouble selling and decided to rent. Look through your county records for out-of-town or owner absent properties and market to them. Think about all the different situations that can make a person a motivated seller, and find a source for people in those situations, and compile your own list. Hope this helps.
Thank you very much KJB. I’ll take your suggestions and use them. I found a free site that helps in locating neighborhoods in the augusta area. So that’s giving me more confidence. I’m unemployed so money is a huge factor for me.