For some of you seasoned investors, what has been your most successful ways in finding motivated sellers? Yes driving neighborhoods until you find that "boarded up, long grass, rundown house" will work… But it just doesn't make sense to the big time investors.
@Kyle Grimm I'm not seasoned but I have received a ton of traffic through Direct Mail. It's the most efficient methods for finding motivated sellers. I like to use ListSource.com to build my list, you can pick every imaginable criteria possible. Pre-Foreclosures, out of state owners; the list goes on and on. Getting your hands on the tax delinquent list is also a great way to find motivated sellers, you should be able to get that through your county's tax assessor office. Hope this helps!
OUTDOOR works - legit methods like billboards and bus signage, etc. as well as (usually illegal) methods such as bandit signs.
DIRECT MAIL works when the right message is sent to the right audience in a cost-effective manner - such as postcards to absentee owners.
PAY-PER-CLICK work - it's the new Yellow Pages. The best leads are those people who are actively searching for an investor, and that's exactly what you get with search advertising.
P.S. I'm not a huge fan of marketing to NODs (pre-foreclosure) unless you can cross-reference that list with data to find the NOD sellers with EQUITY in their homes. Advertising to broke people with no equity in their house is just like setting your marketing dollars on fire. (Not to mention that these sellers often have multiple liens that can cloud the title. Remember, taxes have priority over other liens, so you will have to pay off unpaid taxes, plus any other liens - such as mechanics liens - to clear the title and buy the house. Make sure you know what you're getting into if you deal with folks in that situtation...)
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