Where are the Motivated Sellers?
The million dollar question of every Real estate investor, Newbie and aspiring investors is Where are the motivated sellers? Where do they live? Where are they hiding? Where do they hang out? As most of you already know it take work and Money to get motivated sellers in your funnel. 1st you must ask your self How much time can you dedicate to YOUR BUSINESS? and Also Can you dedicate some money to get motivated sellers??? So you have to decide time, money or both.. Now lets take me for example when I 1st started I had no money well very little money. So I had to dedicate my time. Back in 2011 I got a mentor who had me farming neighborhoods. To better explain every weekend after the work week. I would get up drive neighborhoods and look for boarded up homes, tall grass, roofs that need repair so basically houses that are in distress. I would write the address down I would typically stay out their for 2-4 hours at a time driving around. I use to have 3 pages full of addresses. But for some reason when I tell someone to Farm neighborhoods they come back with 3 addresses. Anyway back to the story that Sunday I would cross reference the address with my county records which can be found online to see what was purchased before 2001 at the time. That way they had at least 10 years worth of equity. After filtering to the leads I would have between 20-30 good leads. I would then mail a hand written pre stamped post card. Back in 2011 a pre stamped post card was 32 cent 100 for 32 dollar. So my budget was 32 bucks for marketing and of course the gas money. I got a deal after 8 months of pounding the pavement.
The previous paragraph is 1 way How to Find Motivated Sellers, the other methods are Direct mail first you must find the list you want to target. My mentor taught me to always fish in the pond with the motivated sellers. What pond is that? you ask. You can get Absentee owner list, Code enforcement, Tax delinquent and Probate list. These list give a high probability of Motivated Sellers due to the seller has problems. The lists mentioned you can purchase them or in a lot of cases get them from your county for FREE. Any list you can get from your county is usually better and cheaper than the ones from a 3rd party source. Another way you can get your phone ringing with motivates sellers is Internet marketing. But alot of people dont realize that having a website is similar to having a business card. They feel good to have them but they are worthless if no one can see them. What good is a website if it cant be seen. And if it cant be seen Guess what “It wont convert”. If it does not convert its worthless. So you have to do some type of SEO (Search engine optimization) or a google ad word campaign that will cost money. Another form of marketing is Bandit signs if you are not familiar with what a bandit sign is, its those little we buy houses signs on side of the road. But in most municipalities they are illegal so please check with your local law. Those are just 3 ways to attract motivated sellers.
In conclusion I just discussed a few ways to get motivated seller. Of course their are more ways to attract motivated sellers but I wanted to write a blog not a book. For those of you that say they cant do none of the above due to cost. You can always work Craigslist and FSBO sites. But you must be consistent with working it. You cannot do it 4 times and quit. You might have to make at least 100 calls before you get a deal but it works for the one who will not give up. As a full time Wholesaler I can tell you the way you remain full time is by keeping your phone ringing with sellers. Are all them motivated? of course not but you have to go through a few no’s to get that one yes. But that 1 yes can pay very well. So at the end its worth it.
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