What is the best way to find sellers who would be willing to do a lease option on their home? I have tried sending out some letters on expired listings, but have not had any luck yet.
Steven, expired listings is a good one, but like you I have not had much luck. A couple of sources to try...
- Craigslist ads (hit up landlords trying to rent or FSBO)
- FSBO sites
- Zillow (rentals and FSBO)
- Local rehabbers that may be having trouble selling.
- Network with real estate agents that may have a listing that is about to expire. Better to offer their client a lease option with you and defer their commission than lose it all together.
- Post your own adds on Craigslist
When it comes to lease options I really like @ClaudeDiamond and his programs. Good luck!!
I am known for marketing to listed houses...but some people are nervous about that.
Here are 18 ways to market to sellers...
1) Properties that are FSBO
2) Properties that are FRBO
3) Direct mail to listed houses
4) Direct mail to absentee owners
5) Contact agents to work with you
6) Contact insurance companies to reach out to the clients that have non-owner occupied properties
7) Go to REI meetings and network with other investors/agents
8) Bandit signs
9) Car wrap
10) Web Scraper
11) Pay a referral fee to owners and agents
12) Look for properties that have weeds
13) Contact the city for a list of houses that have had the water turned off in 30 days.
14) Divorce attorneys
16) VA's to call FSBO and FRBO ads.
17) Hire a Property Spotter ($10 hr and require 5 leads per hour.
@Steven Rosenblatt , there are several subgroups that we mail to for creative finance deals (sub2, owner finance, lease option). Here are a few... Bankruptcy, tax foreclosure, evictions, code violators....
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