Motivated Seller Lists

[Chuck Langlinais]

I’m a new investor and, just like everyone else, am looking for motivated sellers. Is it worth investigating in a monthly subscription? If so, any suggestions as to which one? 

[Stephen Chatto]

The best list are the ones you build yourself.  Figure out how to get the data yourself.   The harder it is to get the data, the less people have it.  

Can you get Eviction Records in your area?  That's always a good one.  
Can you get Water Shut Offs?   Another Good One.

Both can be difficult to obtain, but a great lead source. 

[Wale Lawal]

@Chuck Langlinais

If you know where to look, you can find motivated sellers within days or even hours. Here are some strategies for how to find a motivated seller:

1. Drive for dollars
As the name suggests, driving for dollars is a method that involves driving around neighborhoods looking for signs of motivated sellers. Signs to look out for include empty lots, newspapers piling on the driveway, rundown property, a neglected front lawn, and For Sale by Owner (FSBO) signs.

2. Contact local attorneys
Attorneys are always working with clients that need to sell their income properties or homes quickly due to reasons such as probate, divorce, or bankruptcy. You can reach out to local attorneys via email or direct mail. Better still, network with them face-to-face at local business gatherings and events. Getting in touch with the right attorneys can be a great way to find motivated sellers. Focus on lawyers that practice real estate law, family law, bankruptcy law, and estate law/probates.

3. Network with county and city inspectors
County and city inspectors are continually checking properties and buildings to see if they are up to code or not. They flag properties that have issues such as unpermitted landscaping, zoning violations, septic system violations, and unpermitted upgrades. When a property owner is overwhelmed by multiple liens, they might be motivated to sell quickly and below market price. Networking with inspectors is an effective strategy for compiling a motivated sellers list.

4. Direct mail marketing
Despite the advances in technology, direct mail marketing still remains a very effective way to find motivated sellers. It basically involves browsing through public records and putting together a list of potential motivated sellers. Here are some of the signs to look out for when checking public records:

• Recent foreclosure
• The property owner is of old age
• An out-of-state owner
• Extensive days on market
• Absentee owner
• Death of joint tenant

Once you’ve compiled the list of potentially motivated sellers, send out emails or letters asking if they are willing to sell. If you don’t get a response within a few weeks, be sure to follow up.

5. Visit For Sale By Owner (FSBO) sites
FSBO sites are a great place to find motivated sellers for free. You can find motivated sellers on sites like Loopnet and Trulia. In addition, you can find motivated sellers on Craigslist. Look for deals that have been on Craigslist for a long time, since this could be a sign of a motivated seller. You can narrow down your search by property type, price, location, and whether the home is being sold by a broker or the owner. The site lists apartments, condos, single-family homes, and multi-family homes.

All the Best!

[Steven Foster Wilson]

Quote from @Chuck Langlinais:

I’m a new investor and, just like everyone else, am looking for motivated sellers. Is it worth investigating in a monthly subscription? If so, any suggestions as to which one? 

 Honestly, the best way to get to find motivated sellers it go cold call. You have to be okay with hearing no but there will eventually be a yes.