I am wanting to know of ways of finding wholesale deals other then pulling an absentee owner list and send letters to the owners. What are some other ways that people are using?
Thanks, Joe
You can send postcards/letters to probate, inheritance, absentee owners, pre-foreclosures, etc.
Put out bandit signs that say “sell your house fast for cash 281-xxx-xxxx”
Look through craigslist ads to see if any people have written an ad that has a “motivated air” to it.
Post craigslist ads.
Bid on HUD homes.
Hand out business cards.
There’s tons of ways to find motivated sellers. The list goes on and on.
First you need to Identify Your Target Market• Who am I marketing to?
• Are you marketing to the right people?
• What type of properties do you want to buy?
• Where do you want to buy?
• Who are your ideal customers?
Demographic list examples. Homeowners:
With Equity – Age 50+, owned 10+ years (33% of homes have no mortgage).
In distress – Pre-foreclosure, 60/90 day late, Bankruptcy, Divorce, Tax delinquent
With Distressed Property – Excessive Repairs, Deferred Maintenance, Fire/Flood, Ugly, vacant, or condemned homes
Out of Area – Landlords by choice, Forced into LandlordingL, vacant, probate
With a house for Sale – In-house follow up list, expired listings, FSBO’s, Other Investors, REO’s.
Ways to Find Motivated Sellers
Signs – bandit, at stores, billboard, Signs on your Vehicle
Door to door – post it notes, flyers, door hangers, door knocking
Cold/Warm calling
Ads – newspaper, magazines, Yellow Pages ad
Direct mail – letters, postcards, EDDM
Social media – blogs, FB, Twitter, +1, YouTube, etc
Online Ads – Craigslist, Backpage, etc
SEO for search engines
Pay Per Click
Referrals
Kalen & RIE In PA,
I do appreciate both of your responses and comments!!!
When you send out a post card or a flyer what information do you have on that? Any examples of comments or information would be great…
Thanks, Joe
REI In PA,
You mentioned to look at People going through Bankruptcy & Divorce. Where do I look to find these folks?
Joe
Joe to be a successful wholesaler the two topics you should spend the most time educating yourself are marketing and sales/negotiations. I would recommend this first.
As for your other question I do not personal target market to Bankruptcy & Divorce. You can get these leads via networking with Bankruptcy & Divorce attorneys or try your county records for divorce and PACER for Bankruptcy.
REI In PA
I apprciate your first comment. I have just recently heard that same thing.
Thanks for the additional comment.
Joe :smile
Here is a sample letter that some are using and have found success with:
Dear (Owner’s Name):
I was driving around in your area and noticed your house and was wondering if you might be interested in discussing selling your house. One of the areas I work in is buying houses that need some repair and rehabbing the property to improve its appearance and value.
I am local real estate investor that buys properties in (name your area) area. I am able to buy properties quickly for cash and usually can close within 30 days or less.
The typical process is a preliminary discussion over the phone to obtain some basic information. If that conversation is mutually agreeable then we can arrange for me to come by and take a look at your home to get a better understanding of its condition and what repairs may be needed. Then, we can work toward a fair selling price for your home.
If you are interested you can either provide me with a phone number where you can be reached or if you prefer you can call me at (your phone number) or via email at (your email address)
Sincerely,
(Your Name)
As I always say, use some cheap bandit signs for the calls to come in. You will find a deal or two. Use that money to extend you marketing in other ways. You can’t beat bandit signs especially :beer if you are keeping the cost down and making them on your own.
I like to do some “driving for dollars”. This works for me, too. Basically, it’s just driving around looking for properties that look like they need work…the grass has
not been cut, looks abandoned, needs repairs, something that looks like it’s not being looked after. Take the addresses of the properties. What I like to do is I bring my ipad, look up the property addresses in the real estate assessor’s office for my county and that’ll pull up the address and it’ll tell you if the person who owns the home lives there or not.