Finding Sellers:
Finding interested sellers is often the most daunting step of the
entire process (the first step usually is). It takes persistence and a
willingness to get out and talk to people. Since your ultimate goal is
to make money, you want to find the motivated sellers, the good deals,
the discounted opportunities. Some possible sources are:
Bank foreclosures
Bank REOs
Delinquent tax sales
Probate and estate sales
IRS sales
VA repossessions
FDIC sales
Fannie Mae and Freddie Mac
For Sale by Owner listings
Real Estate agents
Internet listings
Finding sellers through these sources can take a lot of leg work and a
willingness to talk to lots of people. If you have the time and are
interested in pursuing any of these avenues, start with your
local banks, county recorder offices, and real estate
professionals. Also, keep an eye on your local newspaper, both legal
notices and classifieds. As you begin networking with more people, you
will begin finding more opportunities. There are whole courses taught
on prospecting methods and strategies, check out my other guides that
talk about this in detail. However, the best way to really learn is to
jump in and get started. As you do, it takes time to build up your lead
sources, so be prepared to be patient and persistent.
Of all the lead sources consider this: What you are looking for is
motivation. Anything that denotes motivation makes the seller a better
potential investment. Most sellers don't carry a sign around their neck
that says motivated seller so you have to learn to be an investigator.
Find out the reasons why they are selling. Many people say they just
want to sell but that is seldom ever the case find out why.
Once you find out why put yourself in their shoes and think what do
they really need to acgeplish by selling their property? Once you get
down to what the seller really needs then that is the best way to
adress the offer.
No comments:
Post a Comment