LEARN TO IDENTIFY A MOTIVATED SELLER

One of the biggest mistakes I made when first looking for an apartment acquire was that I was giving energy to sellers who were not really motivated.

What more experienced investors have told me is that you should focus your energy on the 20% of the leads that's going to bring you 80% of your leads.

Motivated sellers' reasons for selling:

1. getting too old

2. inherited a property

3. don't want to be a landlord anymore

4. want to focus on another business

5. managing property out of state

6. ran out of cash to finish project

7. want to use cash for retirement

Non-motivated sellers will:

1. want market or above market price

2. want a ridiculous price and will not provide details about property

3. will not provide financials or rent roll

Put most of your efforts on motivated sellers and followup with non-motivated sellers on a monthly basis.