Finding Motivated Sellers

Individuals that are motivated to sell their house fast are out there, they just need to be found.  People want to sell their house quick for a variety of reasons.  Maybe they are facing foreclosure, maybe they are behind on their rent payments, they could have unexpected medical bills that need to be paid, any number of reasons could force a seller to need to get rid of their house for less than it is worth.

While it is not going to happen overnight, finding and capitalizing on these motivated sellers can be an incredible way to capture huge profits. By negotiating with the bank to pay down the remaining debt on the property for pennies on the dollar you get instant equity in the house and can choose to fix it up yourself, wholesale it to another investor and pass off the savings to them, or rent it out and allow someone else to make the mortgage payments for you, the possibilities are endless.

1. Search the MLS for listings that may be expired (your agent can do this for you).

2. Be constantly networking with everyone from CPA’s, Attorneys etc. to plumbers, landscapers, etc. You never know when and where you will find a deal.

3. People known as wholesalers often have great deals. They make small markups to the property they find and pass it on to you so you can take the bulk of the profit.

4. Search the MLS for houses in distress or that need to be fixed up (your agent can help you with this).

5. Putting ads in major newspapers that service the areas you're looking to start investing in.

6. Eviction records are a great source of landlords who are probably on their last leg. You can check records at the County Clerk's office in your local city or state.

7. Placing signs on your car that advertise "we buy houses". Recruit family and friends to place them on their cars too for additional exposure.

8. "For Rent" signs can be a source. Call the number on them and speak to the landlord directly. Chances are they may be looking to get out of landlording alltogether.

9. Pay for referral's from people who specialize in finding motivated sellers. Its better to take part of something than all of nothing.

10. Put your message on a billboard. While this could be cost-prohibitive for some people, if done effectively and placed in the right location, the results can be impressive.

11. Make small hangers that go over doorknobs and flood neighborhoods with them.

12. Research tax records for properties that have been condemned. Chances are the owner doesnt want the property anymore and is letting it sit vacant.

13. Research records of any fire-damaged property in your area. Many homeowners have no idea what to do with their fire damaged property and would rather someone just take it off their hands.

14. Look for properties that are "for sale by owner". It is often easier to negotiate with an owner directly than through an agent.

15. Outfit yourself and any employees with clothes that display your company and your message. Its a great conversation starter when someone sees you're wearing a "We Buy Houses" t-shirt.

16. Inexpensive flyers can be printed for pennies and plastered all over town.

17. Check the local sherrifs office for properties that are set to go to auction. You may be able to negotiate to purchase before it goes to auction.

18. Get in touch with your local auctioneer and find out if there are any private real estate auctions in the area.

19. See if there is a service in town that allows you to advertise on their vehicles. They will drive around all day in high traffic areas with your billboard on the side of their truck.

20. Getting freindly with service people can pay off bigtime. Talk to the mailman, the person who reads electrical meters, pest control workers. They have a wealth of information about whats going on in neighborhoods and homes that may be good candidates.

21. Look through tax records to find landlords that may be absentee owners. Many landlords that are out of state would rather the property be taken off their hands since they are so far away.

22. Taking a weekend and leisurely driving through neighborhoods can be a great way to identify properties hat are vacant or abandoned.

23. Placing ads in local low-cost periodicals such as Pennysavers can be a great way to find motivated sellers.

24. Look in your local newspapers for any estate sales that are taking place. Often times if someone has inherited a property that they dont want they are eager to get rid of it.

25. Check federal and state government websites for HUD homes or foreclosures.

26. Design and print your own business cards. Hand them out to friends, family, anyone you meet. Ask store owners if you can place business cards in their store.

27. Call local banks for their list of REO properties. These properties are bank owned and can usually be purchased for less than their worth because the banks are eager to get them off their books.

28. Search through city records for properties that have multiple violations in regard to trash not being picked up, unsightly landscaping, etc. Often times these properties have owners who just want to wipe their hands clean.

29. Look through county, state, and federal records for foreclosure auctions that may be taking place in your area.

30. Advertise heavily online. Online advertising is often very cost effective if not free. Start a website and try to drive traffic to it. This is a great way to build a list of motivated sellers.