How to find homes that are paid off by owners

How to find homes that are paid off by owners

Rental Property Investor · Philadelphia, PA · Member since 2018 · 4 posts · 4 votes

Hi my name is Ted Trahey, I am a investor in the philadelphia market. I recently moved to Montgomery County and bought a starter home in the harleysville area. I would like to get a bigger home for my family in the same area, I am looking into trying to find owner financing on our “forever home”. I have done a lot of research on start to finish when finding one of these deals. I wanted to reach out on this platform and ask.

-How do I find owners that have there houses paid off or at least 20 years on the note?

- is there a website like (list sources) to market to the owners?

- what would be the best website to use for direct mail when I do find owners in my area?

- are there any other creative ways on going about this?

Thankyou for all your help and I wish the best of luck to all the investors on here!

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Jonathan GreeneBusiness Member
Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
6y

You can build a list on ListSource that tracks 100% equity in a home in your area. I believe their cutoff is 12 years, I am not sure if you can go longer owned than that right now. If you buy the list, you can use a site like Yellow Letters. If you are solely looking for a home for yourself with seller financing, you are really trying to thread a needle so it doesn't make sense to spend a ton of money on direct marketing unless you can handle the other leads as well.

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  • Realtor · Philadelphia, PA · Member since 2009 · 107 posts · 69 votes
    6y

    @Edward T Trahey Hey Edward, I would check out April Crossley on Youtube, she has a lot of videos on seller financing which I think you will find helpful. Good luck on your search!

  • Rental Property Investor · Philadelphia, PA · Member since 2018 · 4 posts · 4 votes
    6y

    @Daniel Umstead Thankyou I really appreciate it!!

  • Jonathan GreeneBusiness Member
    Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
    6y

    You can build a list on ListSource that tracks 100% equity in a home in your area. I believe their cutoff is 12 years, I am not sure if you can go longer owned than that right now. If you buy the list, you can use a site like Yellow Letters. If you are solely looking for a home for yourself with seller financing, you are really trying to thread a needle so it doesn't make sense to spend a ton of money on direct marketing unless you can handle the other leads as well.

  • Rental Property Investor · Philadelphia, PA · Member since 2018 · 4 posts · 4 votes
    6y

    @Jonathan Greene Thank you! I will try everything and let you guys know how I make out.

  • Investor · Los Angeles, CA · Member since 2017 · 110 posts · 52 votes
    6y
    Originally posted by @Edward T Trahey:

    @Jonathan Greene Thank you! I will try everything and let you guys know how I make out.

     I agree with Jonathan - ListSource is a great way to pull a high equity list. DM me, bro - I can save you a TON of money if you're pulling a ListSource list.

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