Finding good real estate deals is not easy in this market. Like most businesses you need customers to drive it. The key to getting great real estate deals is having a bountiful supply of motivated sellers. Finding motivated sellers can be a task, it requires marketing, advertising, salesmanship, and consistency. We have listed 5 ways to find motivated sellers!
1. Out-of-Town Owners
This method is one of the most overlooked methods when looking for great bargain deals. Out-of-state owners are great targets because they typically have one or more problems to deal with which include the house getting vandalized, or paying on 2 mortgages due to vacancy, if the house is listed, it is hard to sell because they are not present to make it appealing to potential buyers, they have a problem tenant, the property needs repairs but they can't oversee the renovations, or they have invested into a no good property manager. All of these reasons and many more make out-of-state owners great targets for your marketing campaigns.
2. Fire-Damaged Homes
Fire-damaged homes offer great profit potential. If the building is deemed structurally sound or repairable and you are an experienced investor then I would say go for it. Usually fire-damaged properties are priced well below the market value which is what makes them nice deals. Do your homework first and be sure you consider all the expenses involved.
3. Newspaper Ad
Newspaper ads can be costly but they can also be effective. Post "We Buy Houses" Ads in your local newspaper if your budget allows. Your ad can say something simple like: WE BUY HOUSES FAST FOR CASH (<-- thats your headline). The body of your ad should say something like……………………………………………....
We are your local team of investors that buys houses
in your area for cash. Any condition, Any situation, Any price.
Please call for more details.
(404)-220-7139.
4. Bandit Signs
Bandit signs are those signs you see on the side of the street. Check your local laws about posting these up in your community. These are not as costly as the newspaper ad and can be just as effective if not more, especially if placed in the right area. The same type of ad would be written on the bandit signs as you would place in the newspaper ad. Use a big black or red marker and advertise that WE BUY HOUSES. This along with the newspaper ad will attract mostly motivated sellers.
5. Vacant Homes
When driving around take notice of vacant homes because they tend to make for motivated sellers and good bargain deals. Telltale signs of a vacant house include a unkept lawn, and old piles of newspaper, flyers, and coupons at the front door. These are excellent leads which are usually not listed on the market. Send the owner numerous letters to the house and try and find a current address at the tax assessors office or at the local post office to see if they have a forwarding address for the owner.
No comments:
Post a Comment