Wholesaler · Madison, WI · Member since 2018 · 17 posts · 1 vote
What’s your process of finding motivated sellers? I’m a beginner wholesaler and I don’t have a lot of money to invest in marketing at this point. How did you find your motivated sellers?
1. Calling FSBOs on craigslist, kijiji, zillow, fsbo etc. 2. Slapping a hand written sticky note on the door of listed homes saying: "I'd like to buy your house, please call."
Reno, NV · Member since 2016 · 58 posts · 26 votes
8y
Bandit signs can be done cheaply.. just be careful and mindful of your city's laws on where to put them up. One strategy is to put signs up late on a Friday after 5 pm so they are less likely to be taken down during the weekend. You also might want to get a 'ghost' number through something like Google voice to use on those signs to make it difficult for code enforcers to deliver a fine. Can also use craigslist to do the same thing 'we buy houses' or looking for ugly houses, neighborhood eye sores etc. Try calling people on craigslist renting out their properties to see if they would be interested in selling instead of renting, never know what mood you might catch them in. Go walking on the weekends(in summer people are out doing yard work) in your target neighborhoods and talk to people..let them know what you do, ask them if they have any property to sell or if they know anybody who is looking to unload some properties. You should also ask them about their neighborhood if they know any houses that look poorly maintained or vacant. Partner up with some postal workers, they know neighborhoods after all. Just be creative.
1. Calling FSBOs on craigslist, kijiji, zillow, fsbo etc. 2. Slapping a hand written sticky note on the door of listed homes saying: "I'd like to buy your house, please call."
1. Calling FSBOs on craigslist, kijiji, zillow, fsbo etc. 2. Slapping a hand written sticky note on the door of listed homes saying: "I'd like to buy your house, please call."
Hey Doug, great tips! Ive foud some fsbos in my area from D4D and i want to call them. Any recommendation on what to say?
"Hey, calling about the house for sale on xyz, is this xyz? I'm interested in purchasing as is, can we schedule an appt?"
That simple you think or have you found a different approach works better? I also will most likely call a 'related' person. open with the same thing, and if they say its not xyz ill ask for their number since im innocently (AKA not a stalker haha) calling about the house for sale and trying to reach them.
Investor · Kitchener-Waterloo, Ontario · Member since 2008 · 1k+ posts · 1k+ votes
8y
@Alexander Schwartz No reason to make it any more complicated than that. They want to sell, you want to buy, set up an appointment to check the place out.
@Alexander Schwartz No reason to make it any more complicated than that. They want to sell, you want to buy, set up an appointment to check the place out.
Ha so i called, and THIS situation was actually complicated. Get this...
it was actually 3 acres but only an 820 sqft house (across the street are huge 250k houses with not quite 3 acres...haha) guy has had FSBO in his window for years he said. Is on septic and has a CAVE SYSTEM of some sort. Build in the 1940s by a tradesman with his extra lumber or something.
He said he can tell when RE seminars happen because he'll get 50 calls in one week all of a sudden. We had some common ground though.... seemed really nice.
But not sure if i can fill the potential of the land, because that's what your paying for in this property in the super safe suburban area right off the highway, not the tiny house on it. Maybe i can build 2 more houses on it! Maybe. Funny cause i had 4 numbers for his WIFE because i couldnt find any for him, but he picked up on the first number i dialed.
But yeah the thing is.. i feel like a lot of FSBO's want top dollar and when you call and meet up then offer 50k below what they wanted they'll feel like you wasted their time. Unless maybe you only focus on fsbos that are also in bad condition? Not sure... hm.
Investor · Kitchener-Waterloo, Ontario · Member since 2008 · 1k+ posts · 1k+ votes
8y
@Alexander Schwartz Sounds like an interesting property LOL! Obviously this one would be all about building something else on that land like you said.
Probably the best way to approach FSBOs for wholesale deals is to ask on the phone: "Would you sell for what you owe?" That leads to one of 3 possibilities:
1. They tell you to go pound sand. In this case you've saved yourself the drive. 2. They say yes because they don't have any equity. These can be wholesaled to sub2 investors or to buyers who can't qualify for a mortgage. 3. They say yes because the place is a dump and they want to get rid of it. These would be your 'traditional' wholesale deals.
@Alexander Schwartz Sounds like an interesting property LOL! Obviously this one would be all about building something else on that land like you said.
Probably the best way to approach FSBOs for wholesale deals is to ask on the phone: "Would you sell for what you owe?" That leads to one of 3 possibilities:
1. They tell you to go pound sand. In this case you've saved yourself the drive. 2. They say yes because they don't have any equity. These can be wholesaled to sub2 investors or to buyers who can't qualify for a mortgage. 3. They say yes because the place is a dump and they want to get rid of it. These would be your 'traditional' wholesale deals.
Gotcha! Good idea to find the motivated ones and make it simple. And yeah... ill see if theres anyone i know that might be interested but its.... different!
So far only been direct-calling FSBO closed a few deals in my first couple months.
Just make sure you start the convo by saying "ATTN IM NOT A REALTOR, I REPEAT, IM NOT A REALTOR" lol... for some reason every seller I called always asks me "are you a realtor!? cuz ill hang up if you are"...
Katy, TX · Member since 2017 · 372 posts · 140 votes
8y
@Kameisha Campbell this is all great advice, when you have a small monthly budget you can continue doing that as well as some other ways that are low cost
So far only been direct-calling FSBO closed a few deals in my first couple months.
Just make sure you start the convo by saying "ATTN IM NOT A REALTOR, I REPEAT, IM NOT A REALTOR" lol... for some reason every seller I called always asks me "are you a realtor!? cuz ill hang up if you are"...