Lease option question?

Question

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.

Shaun Caldwell · Answer

@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....

John Jackson · Answer

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

15)  Contractors

16) VA’s to call FSBO and FRBO ads.

17) Hire a Property Spotter ($10 hr and require 5 leads per hour.

18) Zbuyer.com

Bob Couture · Answer

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!!