Want to Find Motivated Sellers? Here are 10 tips to help you on your way…

Posted on 24. Aug, 2010 by in News

One of the keys to successful Real Estate Investing is finding motivated sellers. You make money when you buy.

A motivated seller is someone who owns a property and wants to sell it but can’t. Perhaps there is not enough equity to sell because they owe too much money on the mortgage. Maybe the place needs a lot of repairs and no one is interested. Perhaps they have moved and are carrying two mortgages. There are a number of reasons why sellers might be motivated

Here are 10 quick and easy ways to find motivated sellers:

  1. Drive around neighborhoods looking for For Sale By Owner (FSBO) signs — knock on the door and talk to the owners! They have a sign on the front lawn and essentially are inviting you to contact them so don’t be scared!
  2. Drive around neighborhoods looking for vacant houses or even homes that may be obviously occupied but look like a hot mess!  Write down the addresses, make notes on the properties, and then head on over to your computer and start trying to find the owners of the property in the public records and contact them.  I’ve heard of people even leaving post-it notes right there on the door encouraging the owner to contact them.
  3.  Place an ad in the major newspaper in the town you wish to invest in. You may be surprised at the response
  4. Use MLS to your advantage: People trying to sell their houses for a long time unsuccessfully quickly become motivated sellers. These expired listings can be valuable source of leads for your real estate investing business
  5. Make 1000 business cards and tell everyone you can about what you’re doing so you can get leads.  I’ve also seen people leave business cards in all kinds of interesting places and I’m sure you have too!
  6. Leave flyers at unemployment offices….a lot of people there could be having trouble with their homes and may need a solution
  7. Check the newspaper or your local “flyer” or Bargain Trader/Free Ads paper — yes, its an old school method but there could be old school sellers who use it when they need to sell. Doesn’t hurt to look since so many others are looking on Craigslist or Kijiji only!
  8. Speaking of Craiglist and Kijiji…use it. It’s free!  It may take a while to find a deal but I know plenty of people who have. Check out the Houses for Sale (by Owner) section as well as the Houses for Rent.
  9. Call the numbers on those For Rent signs around your city…talk to the landlords…they actually may consider selling.
  10. Be a walking billboard… bite the bullet and advertise yourself!  Wear that polo shirt or tshirt and use that magnetic car sign to attract motivated sellers

The key to finding motivated sellers is communication. Start telling everyone you meet that you are a Real Estate investor and that you are looking for good deals and before you know it, you will have lots of deals coming your way.

In Real Estate, there deals and then there are GREAT Real Estate Investment deals. A motivated seller is the difference between the two!

Feel free to add your favorite ideas on how you find motivated sellers!

To Your Investing Success!

Jane Killeen-Payne
INVICTA Property Investments

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