Where and how to find motivated sellers?

Question

I have never flipped a house in my life. However, through years of intense study of how to flip houses -- I have yet to find an ideal motivated seller. The term "motivated seller" is so broad that it includes mostly real estate investors trying to sell a 20k house they bought for 10k to make a quick buck or some dilapidated house that needs 40k in repairs. I do not want to buy properties from other real estate investors.

I have been to craigslist, byowner.com, redfin.com, just about all markets. If this was so easy 280 million people would be flipping houses and not working 9-5 jobs.

Where and how can I find a typical person wanting to sell their house at a discount due to divorce, death or just wanting out of their mortgage? I NEED LEADS.

Dev Horn · Answer

As you found, you can study and learn, but that does not generate any BUSINESS for you. And this is a business. So you need to do what any other business does - spend advertising dollars to find the right prospects. We do this with:

1) Google Search (AdWords)2) Direct Mail3) Outdoor (billboards to bandit signs)4) TV spots

So, you'll need a marketing budget for 6 to 12 months to get started in this business. Without it, you will be one of thousands of people who would love to make $ from real estate but have not yet invested $ in marketing.

We market to people with messaging such as "Has your HOUSE become a HEADACHE?" etc. You need to talk directly to your prospects in your marketing so the right people can respond to it. Right now, there are motivated sellers in Dublin, OH. They are being found by the guys who are paying to find them...

I wish you the best!

"The man who stops advertising to save money is like the man who stops the clock to save time." ~ Thomas Jefferson

Adam Bartomeo · Answer

I wouldn't be so quick to say that you wouldn't buy from other investors. I feel that they could be one of your best sources for flippers. As mentioned by @Kyle Jorgensen wholesalers are a great way to get properties. You will have to network and build relationships because the best deals usually go to the wholesalers better clients.

I have gotten several deals just by telling people that I invest in real estate. People often know people who need help getting out of there home. I have gotten several properties recently from the MLS. Keep turning over the stones and KNOW a good deal and you will find one. Do NOT buy a property where the numbers don't work, you get in trouble everytime.

Kyle Jorgensen · Answer

@Jack Hensy The quickest way would be to contact a local wholesaler, but you said you did not want to work with other investors. You could ask an agent to bird watch for you, but usually anything that ends up on the MLS is going to be over priced and very competitive. This best thing you can do is go out and find the deals yourself. Bandit signs seem to be the most effective, put up signs saying "We buy houses"...etc. Or you could drive for dollars. Drive around a desired area and look for signs of distressed properties, then knock on their door or send a letter. Those are the basic ones, but if you really want a deal, you will find a way to make it happen. Good luck!

Where and how to find motivated sellers?

Where and how to find motivated sellers?

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