31 Ways To Find Motivated Sellers
| March 2, 2009 - Posted In: Real Estate Investing Articles |
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By: Brandon of Brandon’s Real Estate Investing Tools
When I began my real estate investing business the first thing I needed was ways to find motivated sellers. Since then I have created a list of 31 Ways To Find Motivated Sellers.
As a real estate investor the majority of your time should be spent on finding motivated sellers. Without a lead on a property your business is dead.
Real estate investing is purely a numbers game. The more properties you look at, the more offers you’ll make and the more money you’ll make.
1. Classified Ads – Post “We Buy Houses” ads in the classified section of local newspapers and on websites like Craigslist and Ebay.
2. Classified Ads – Look in those same newspapers and websites for FSBO’s (For Sale By Owner) and look in the rental section for landlords running ads to fill vacancies – perhaps they have properties they need to sell or will be selling shortly.
3. Bandit Signs – Mini billboards that can be placed on telephone polls and dug into the ground.
4. Vehicle Magnet Signs – Magnetic signs that deliver your message while you’re driving.
5. Business Cards – A cost effective way to get your message out to everyone you come in contact with.
6. Flyers - Affordable way to print your message and distribute it to everyone.
7. Door Hangers - Another affordable way to distribute your message.
8. Professional Attire - “We Buy Houses” shirts, jackets, hats etc.
9. Website Marketing - Your own website that collects information from motivated sellers and provides information about your company.
10. Bird Dogs - Educating others on how to find properties and paying them a small fee works well. Create your own army of bird dogs.
11. Real Estate Wholesalers – Contact wholesalers who already found and negotiated deals.
11. Driving For Dollars - Drive neighborhoods for vacant, condemned and boarded up houses. Also
12. TV Commercials - Can be expensive to produce and play on the air but the exposure can be well worth the costs if done right.
13. Radio Commercials - Cost much less than a TV Commercial and it’s important to keep the commercial short, informative and right to the point.
14. Billboards - They’re not as expensive as you would think and can be great exposure.
15. Mobile Billboards - Can be put on public transportation vehicles.
16. Local Seminars & Clubs - Can be great exposure to the local community. Interact with people at these events or even host your own and provide information on the local real estate market.
17. Local Print Advertising – Local publications, newspapers and magazines can be an affordable way to get your message out to a certain part of town.
18. Direct Mail - Crafting a letter and or postcard and mailing them to targeted lists – Probates, Pre-Foreclosures etc.
19. Networking With Professionals - It’s important to build your real estate network with professionals – people who work with real estate or work with people with real estate. Accountants, Lawyers, Appraisers, Realtors etc.
20. Department Of Code Enforcement – These are the people who will usually contact you for posting bandit signs but they also know which properties in town are condemned.
21. Process Servers - They’re the bearers of bad news because they usually distribute legal documents. They can distribute notices to tenants who are being evicted among many other things.
22. Insurance Companies - Fire damaged and un-insurable properties can be a source of profitable deals.
23. Property Management Companies - These companies could know ahead of time if a landlord is selling a property, if there are problem tenants and a problem property.
24. Title Companies - Come in contact with investors all the time.
24. Tax Sales - You can sometimes buy properties at Tax Sales for a fraction of what their actually worth. You can also collect a high interest rate when the delinquent taxes are paid off.
25. Bank Owned - With foreclosure rates rising at all time highs and banks now taking back property the smart investor with the right strategy can purchase these bank owned properties at deep discounts.
26. Absentee Owners – People who own a property but don’t live there and live somewhere else. The tax bill is being forwarded to an address. Many of them are landlords and many of these landlords can have problem properties and tenants. Send them a letter!
27. Estate, Moving And Garage Sales - Look in the local newspaper and online classified ad websites for these listings.
28. Auctions - It’s tougher to find deals at auctions because everyone now knows about them but you can meet other real estate investors who may need to sell property in the future or know other people selling property. It never hurts to network!
29. MLS - Look for listings with buzzwords like handyman special, repairs needed and properties that have been on the market for a long time.
30. HUD Properties - Check with the government for HUD (US Department Of Housing And Urban Development)
31. Word Of Mouth Advertising - Providing a quality and friendly service to those you come in contact with can pay huge dividends in the future when they refer you to someone else.