A lot of people, especially beginners, think that it’s hard to come across wonderful deals in real estate. The truth is, there’s plenty of deals out there, and everything is just a question of who’s going to work the hardest to find and acquire these deals.
The most usual complaint when it comes to finding real estate deals is the fact that it seems like it’s almost impossible to find deals the first few months you enter this business. Even if you have listened to all the books, podcast, and meet ups that talk about real estate, you still couldn’t find a deal. Are you doing something wrong? Where can you find these motivated sellers?
To answer that question you should first know the places where you CANNOT find these people. Some of those places include MLS, Zillow, and Trulia.
True, motivated sellers are motivated because of the following reasons:
- Something happened in their life, and this triggered them to sell their properties as fast as they can.
- Their house is distressed, and they believe that there’s no way to fix it. This can be a house that is flooded or has structural issues, or has never been renovated in decades.
- This can also be because of divorce, death, job relocation, sickness, loss of job, or foreclosure.
- It can also be a tired landlord who cannot handle, or would rather not get stressed.
- It can be another investor who is finding it hard to raise enough funds to maintain his business.
How to Find These Motivated Sellers
Finding these motivated sellers isn’t that difficult at all.
- You can consider calling for rent signs that were posted by a person and not a property management company.
- Buying lists from websites, such as listability.com can also be a way. You’ll get a list, and this would allow you to send letters to people on the list, telling them that you have an offer of fast cash. Try to be as specific as possible. If you’re going to send 100 letters, there’s a chance that 5 of them would be calling you back.
- Don’t be afraid of experimenting with the marketing styles to see what type of letters you should be sending out.
Real estate selling isn’t just for investors, but people who want to sell their house fast. Thus, sending letters to motivated list can be of great help.
Buying Leads Online
Another strategy that you can consider would be buying leads online from national sites, such as needtosellmyhousefast.com. However, if you’re going to try this route, you should have a good amount of capital first, because it can never be classified as a freeway technique. You have to purchase leads that cost around $100-200– whether or not the owner would be selling his property to you. This only implies that even if you’d only get a single deal, you’ll still be spending $15,000 after buying 20 leads. Rest assured though, this type of investment is really worth the cost.
Most auctions are hard to buy because you’ll need to have a cash on hand that day, Thus, it’s not really an option for beginners. They also won’t have time to see the property before purchase or conduct an inspection either.
Reading Sales Book
Reading sales book can also help you find ways on how to convert the leads and turn them into profit. Likewise, you can also try going to free foreclosure websites and find people there. Be as genuine as possible when you talk to these people. Keep in mind, most of them are probably in pain and letting go of their property might be the hardest decision they have to face in their lives. These people have probably lost their job, and now, they’re losing their house as well. The least you can do to help them is to save their credit by buying a little of their equity.
To make that possible, look for an investor who would help you buy the property and help the previous owner to get out of his unsightly situation. Lastly, reading a book about foreclosure investing would teach you the ins and outs of real estate buying.
Estate of Mind was made to help those who are new in the real estate business. Its purpose is to show people clear, entertaining ways on how to acquire assets and build wealth the shortest time possible.