As the title suggests, what are some ways to find and market to motivated sellers that one can do without a budget.
Not quite sure if there's a way to find motivated sellers on a regular basis for free. I've heard of people door knocking and stuff like that to try and get deals, but I've never heard on whether it has any success of not.
@David Hartoon , you may be hunting unicorns, but if you don't have a budget, then you don't have a budget. It's time to get creative.
First of all make sure that you know what you looking for. If you don't have money for marketing, I feel safe assuming that you don't have money to make the acquisition on your own. Talk to your cash buyers. Find out what they would like to buy, then go hunting.
Let's say you know what your looking for. Now whenever you're not home keep your eyes and ears open. You see a neglected yard, bad roof, peeling paint, etc. you make a note and follow up. Find the owner and ask him if he'd like to sell.
If you can raise a little money, buy a a few hundred business cards that say something like "Having a yard sale? I'll buy your house too!". Be creative or find a creative person to help you, then start having conversations with strangers (despite what your mom taught you when you were little). When that stranger asks what you do for a living tell that you buy house and hand them your card, then tell them that you pay referrals and if they happen to know anyone.......
Get a Google Voice number and use that in all your marketing. It's free! When that number rings you'll know that the call is coming from your marketing campaign. If it doesn't ring enough, you need to up your marketing game.
Seriously look to get involved in your community. Join the Kiwanas or Toastmasters, things like that. Volunteer to help put on the community lalapaloosa or whatever. Make a lot of friends, ignore the pissie people. Community involvement will help you become "known" in your area as a "great person". You'll make a lot of friends to strike up conversations with that will ask you what you do for a living. Each one gets a card. Pretty cost effective.
If you really put your heart into it, you'll think of lots of things you could do to get the word out. You live not far from @Brandon Turner , right? Perhaps you could ask him what works best in and around Seattle. Whatever it is work it and never quit, never slow down and especially never let discouragement keep you down. Remember, there's no crying in real estate investing! If you hunt long enough and hard enough, sooner or later you're gonna tag and bag that unicorn.
@Tom Mole all very good ideas. Listen to em!
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You can always go knock doors!
Thanks for the replies guys. Seem's door knocking and networking are the two main ways. I'll see if I can get in touch with more people. Thanks.
One of my favorite techniques is tracking down owners of vacant houses. It will take some good detective skills and may require a few bucks to find a phone number. This is probably one of the best ways to find deals for very little cost.
It is not easy but they can be very good deals.
Hey Ned, I've come across a few vacant houses. But when I look up the address on the tax assessors website, it says the owner still lives there. Obviously nobody is there, so what could be the cause? I've heard of the word "skip tracing" but I have no idea how it works. Any thoughts?
This is where your detective skill come in. Knock on neighbors doors, Send a letter and request a forwarding address, Check any public records you can find access to. Ultimately you may need to pay to find them. search for "people search" or "Skip Trace" and a ton of sites will come up. Some sites will give a day or a month pass so you can group your searches to cut your cost.
Buy a pack of post postcards from the dollar store, it doesn't matter what they say, smaller than 4.25"x6", apply a first class stamp for postcards, .34¢, and write on the PC, below the stamp, "Forward Address Requested". This will get to you the addressees new address assuming they registered a forwarding.
As to the question of how to find motivated sellers without cash...
Thats is impossible. You'll need some cash for a set of business cards, agreement to use and a notepad to write on and pen to write with.. A hundred bucks and you're set.
Then pass them out light halloween candy. It you get to the end of a box of 1000 business cards without making a serious amount of offers something is wrong and real estate maynot be for you.
You can also cold call.
Find the prefix for an area you want to buy in and call all 10000 telephone numbers. Example 764-0000 764-0001 764-0002 etc. When someone answers ask this question.
Hi, my name is __________with I Buy Houses… We are looking for 2, 3, and 4 bedroom homes in your neighborhood…And I was wondering…who do you know that is looking to move out of your area? (No one) Fantastic! Thank you for taking the time to think about it.. By the way... Have you thought about selling? (Never) Terrific!
You will find someone with 125 calls who wants to sell... And calls are conversations.
PS. When you have your business cards created make certain to make them generic.. Red and Yellow work the best and dont worry about websites and other crap you don't need until your successful.
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