Hello everyone! I am currently located in the DFW area and scavenging for my first wholesale deal.. I have been doing a lot of D4D, Zillow, Craigslist. Are there any other avenues that are crucial to check? Bandit signs? Thinking about purchasing my first absentee list from list source. Any help would be greatly appreciated. Thanks again
The world of marketing for motivated sellers is deep and wide. It's really quite intense and overwhelming the number of ways to approach it. For the most part, you can hunt or fish.
Fishing is putting out there that you buy houses. Perhaps with SEO or bandit signs.
Hunting is building a list of property owners that are likely to be motivated, such as pre-foreclosures or inherited properties. Then, you have to find a way to get in touch with them. Depending on the list, the primary ways to do this are Direct Mail or cold calling.
So if you are asking questions like this you are on the right track, but I would recommend you do a ton of research in a diligent, calculated manner until you have a marketing and business plan established.
@Joseph Porturica Mail is a good avenue to contact sellers. However, Dallas is a very competitive market and chances are the Absentee list you get will consist of people that many other investors have mailed to. You can read about people getting 10-20 offers a month in some markets.
You should consider mailing to people who aren’t on every other investor’s radar. Absentee Owners have been too popular for too long. It's hard to stand out.
There are some owner-occupied segments with people who share motivating factors for selling their home.
Seniors with Long-time Ownership: often ready to downsize or transition to assistance.
Homeowners with Low Financial Stability Scores (FSS): Struggling financially and likely ready to cash in on their asset.
Both these categories have additional advantages in that they probably don’t haven’t been updated and may have deferred maintenance. They won’t be expecting the same money as their neighbors with the shiny new kitchen and fresh paint.
A list broker can help you sort out a good list for your area.
@Allan Smith Thank you so much for this great information. Really appreciate the help! Would you have any insight on where to find information on people who have inherited property? Is that going to be purchased on list source?
@May Emery Wow, thank you so much for the feedback. I finally feel like i’m moving forward! Would you have any tips on how to find a list broker in my area? When I google, I find mostly “Mailing list broker”.
@Joseph Porturica I'll PM - you want to get one specializing in REI