How do you find the motivated sellers to market to?

Question

How do you find the sellers' information to market to (send yellow letters to, postcards, online, etc.)? Where do you look to know who to reach out to and how to reach out to them?

Dennis M. · Answer

In this modern age of technology everyone will be using algorithms advanced automation and online resources to reach sellers . Everyone is doing that already so the competition is fierce . The whole process is based on motivated sellers . Everyone is looking for dumpy houses when you ought to be looking for motivated sellers instead

What can you do to set you apart so you can get into these peoples houses to do kitchen table negotiations? It is my belief that you need to go back to old school techniques and that is going to include bandit signs ! today’s lazy millenal investors won’t take the time or effort to physically write these out , get in their car ,and drive around at night hammering these to poles and talking with people who call them . I get calls all the time on bandit signs and many of them are great bargains or subject 2 properties from desperate people . I can’t believe more people don’t still do this but they don’t !!

I’m actually going to look at a 3/1 house this Saturday and I’ll probably buy it for well under 10 grand . They saw my bandit sign at a stop sign I put out two months ago and want to talk about selling to me . Had I did what everybody else did like that mailer letter it would have ended up in the trash can or lined the bird cage with the others they got in the mail

May Emery · Answer

@Ben FederI agree that most mail campaigns are targeting all the same people.

You should consider mailing to people who aren’t on every other investor’s radar. Absentee Owners have been popular for a long time, and are apparently still somewhat effective (people are still mailing to them) but they are getting multiple offers to buy their home. It's hard to stand out.

There are some owner-occupied segments with people who share motivating factors for selling their home.

Seniors with Long-time Ownership: often ready to downsize or transition to assistance.

Homeowners with Low Financial Stability Scores (FSS): Struggling financially and likely ready to cash in on their asset.

Both these categories have additional advantages in that they probably don’t haven’t been updated and may have deferred maintenance. They won’t be expecting the same money as their neighbors with the shiny new kitchen and fresh paint.

Bill Clements · Answer

Sadly most lists out there you will be 1 of 20 letters that they receive. Unless you have a new formula that no one has used or discovered. The biggest thing with direct mail (in my opinion) is that you have to make sure you have the budget for it and then trust the process. Using a company like listsource is really not all that expensive when you think of the time it saves you and what they provide. But you need to be mailing thousands of letters a month and 4-6 times each in your campaign. Remember its a numbers game. There are people/companies that spend tens of thousands of dollars every single month on direct mail. Just pick your direction and stay consistent.

Ehsan Rishat · Answer

@Ben Feder I have always been a fan of Listsource. They are affordable and the data are very accurate. You can take a look at their site and they have options through which you can filter equity %, household ages, last market sale date, etc. I have tested a lot of their filters and found the optimum criteria for my direct mail. The response rate is also impressive. Check the criteria below.If you're looking for a free list, you can go with the tax delinquent list which is available on the county website. Now, I don't recommend them since most of the investors have already started marketing to them but however, if you can mail those records 5-6 times, you have a pretty good chance of getting a deal or two.

Amy Heitner · Answer

Hi @Ben Feder,

Here is an article that might help, https://donedealwebsite.com/how-to-find-motivated-sellers/All the best.

Riley Schaefer · Answer

@Ben Feder Call the county to ask them Ben as it varies in different areas.  Got to put some work into investigating it.  I can't tell you everything.

Ben Feder · Answer

@Riley Schaefer where can I find the info though besides the list companies? Where in public records do I look?

Riley Schaefer · Answer

@Ben Feder you can pay for lists from companies that mine that information like list source or lead list, but most everything is public knowledge so you can also find it in county records with some digging.  Good luck!

How do you find the motivated sellers to market to?

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