How to decipher seller leads from public records

2 Replies

Hello,

I am really happy to find BP. I have found a ton of information on wholesaling and embarking in this market. However, I know in this business you can read and research yourself out of doing it because there is so much information. 

My partner and I have started the LLC, bank account, company name, motto, logo, website etc. We have our seller and buyer scripts and email templates we would like to use. (Both of us both have years of sales experience and marketing. The hustle is there as well)

Now comes the semantics of doing the deal. We understand that the quality deals to create a successful, LOYAL business involves fair and accurate equations for the buyer and sellers. We are creating our buyers list as well.

Now with the motivated sellers, I have seen so many different areas to find them such as Lis Pendens, probate, inheritance, absentee, vacant, etc, etc. (we want to start wholesaling first and than move to rehabs, rentals, short sales, etc) Now to actually execute on the different list, my biggest problem is finding the information in public records. I know there are databases like REIPro (we have a free trial) my house deals.com, etc. However, they give the info but it doesn't give the extending lien, or mortgage info. (if they have 2nd mortgages, etc) Would I contact title companies first to get the information?

Also for public records like Lis pendens, (In Broward County and S.FL) they give an average of 1-2 pages and the addresses are like Di Vinci codes lol (LOT 1 in Davie Park, 96 degree east etc)  If it is about finding the diamonds in the rough, what are the best ways to find the address, seller number, info on mortgages, or existing info that can help with finding the best contracts and best equations.  If you do have their contact information would you just call and go over the questionnaire with them to see if they are qualified? 

I hope this makes sense but what are the best ways to get the information if these are the types of motivated sellers to find. 

Thank you!!! 

@Dahlia Berdugo I feel you might be overthinking some of this. There is no perfect list. Real estate wholesaling is generally not about one property, deal or seller lead. You can only really help people by leveraging the law of large numbers and talking to a lot of people. Use list building services like ListSource, Rebogateway, Listability, etc. if you want to create and market to a list. You can decipher a lot of the information you're asking about on the various services. 

@Dahlia Berdugo

I've been pulling probates for ages and there's one thing I can tell you. Pull current probate leads but also skip trace them. Without a skip trace you only have names on paper. Then again, do you know the cases you're pulling are the right type of probate litigation? Do you have the time to cross check all the information you get with the courthouse to confirm there is property attached? When you are pulling your information at the courthouse have you read through all the paper work to make sure you'll be reaching out to the right person? What is your time worth? That right there is one of the most important questions no matter what you are doing. Is your time better spent paying for a probate lead so you can spend time making the deal instead of researching?  In my opinion, the most motivated sellers are probate sellers. Plus, they have the most equity.

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