Motivated Sellers List

[Kay Dyer]

Hi BP Fam, 

I am new to real estate but ready to get started wholesaling . I registered my business and did some research. Is there a good target list to start with other than FSBO? I am really looking for a combination list targeting motivated sellers with more than one motivation to sell. I have a little money to spend on the list. Also, is there a good website to get leads from other than listsource?

[Lucas Machado]

@Kay Dyer Welcome to the exciting world of off-market lead generation!

For starters, the tried and true direct-mail lead is probate and estates. Yes - it's competitive. However, I would say nearly 50% of the deals I've ever worked were somehow connected to probate scenario.

The beauty of probate is that the houses often have other problems - and you know most of the sellers are motivated sellers - they didn't choose the house. Now are they motivated at your offer? That's a different question - but certainly they are in the market to sell more often than not.

I actually don't think FSBO is a good list. It might be worth a phone call (as usually its available for free on the listing) - but in my experience FSBO prices are drastically over priced and the seller's have an abnormal understanding of what their house will sell for.

Next, I'd hit up back taxes. There's a real problem there. However - I would look more narrowly a 2 years of back taxes. Anyone can fall behind 1 year (might just be they haven't gotten around to it). Once a couple tax certs are issued - it's a better sign.

For combining factors, it's a bit tricky. I think "out-of-state" + back taxes, probate, violations is a good way to do that. But one thing to keep in mind is that DMM is about volume. Sending 100 letters isn't really going to get you anywhere without some stroke of luck . . . 

If you're in it for the long game, you are better off with a website than direct-mail. You can leverage your time to work on SEO - but in DMM - you're capped by your financials.