Targeting Out-of-state Owners

Out-of-state owners sometimes can struggle to keep up with their properties thus their levels of anxiety are high. Agents can target these owners and turn them into a niche.

Out-of-state owners’ troubles. Out-of-state owners often face the fear of vandalism, emptying-ownership, multiple payments, non-onsite management and/or showing, tenants are not paying, inability to do repairs, irresponsible managers, etc. There are many other issues that out-of-state owners are dealing with and it can be to the point that they want to sell off the property. Thus, tapping on these owners might be right-on.

Finding out-of-state owners. One can use the appraisal district’s website and search for the property records. This method is free yet can be very time consuming. Another method is calling the appraisal office and ask for the listing of single-family homes with owner names, mailing addresses, and property addresses. These can help the agent to target the right homes and get in touch with the owners. One can even call many counties and get the listing for a fee and sort the listing out with only out-of-state owners.

Sorting the list further. The list can be filled with out-dated addresses and contact information. Agents can pay $250-$450 to clean out the list which is highly recommended to save the time. Another method is to pay a list broker and get a clean list for $250.

Big return-on-investment. Although there is some money required to put upfront, the return-on-investment is great! There would be little to no competition as not many agents are willing to pursue the venue to working with out-of-state owners. It is said that as out-of-state owners have their own struggles, agents would also face their owner struggles in working with out-of-state owners who are far away.

Topics: real estate, investment, out-of-state owners

Work-cited: https://www.creonline.com/what-to-know-about-out-of-state-owners/