Whether you're a novice investor or a seasoned investor, or have a few deals under your belt, a large majority of us will begin our real investor career by first looking for houses. I love being a property scout! I prefer using this terms over a bird dogger because it just sounds better. The approach of find houses is good but what does that house have to have in order for a deal to manifest? It needs to have a motivated SELLER!
Motivated Sellers equates to property bargains. But where do you find motivated sellers? There have been several posts on here on where to find motivated sellers but here are just a few so you have it. Motivated sellers are not hard to find but they won't be knocking on your door to tell they're motivated either nor will they be shouting out, "Here I AM, Buy my house because I'm motivated..." which is why we have to continue to keep our heads on a swivel looking for the next deal in the making.
Here's a few ways to find them:
1. Absentee Landlords, (check tax records for these owners)
2. Estate sales. Check your local newspaper for these.
3. HUD and other government foreclosed properties, check your state's website for listings.
4. Owners whose property has code violations, you will see a white paper attached to their front door if they have one or you can check with your city for a list of property code violators. ( I've never actually checked with my city, I've been successful with just noticing the violation sheets attached to front doors of properties)
5. Owners of fire damaged properties, check tax records for these owners because they more than likely already received OR are about to receive an insurance check from their insurance company.
6. Owners of condemned properties, again, a notice will be on front door usually of condemned properties or check tax records for a list of these owners.
7. People that are relocating. I like this one. Just go to craigslist.com and in the Search box inside the real estate section just type in "moving" or "relocating" and then click search and all the homes you will see pertain to people that are moving/relocating. Pretty cool huh.. I thought so..
8. Expired MLS listings ( you will have to use your agent for access to this information. If you don't have an agent on your team, GET ONE THIS WEEK!!)
9. Drive by and look for vacant homes and then find out who owns the house and send the owner a couple a friendly postcards offering to buy their house from them.
10. WORD OF MOUTH. Just ask around. "Hey do you know of anyone that needs to sell their home fast or has a house they have been trying to sell with little to no success? If so, I'd love to try to help them get their house sold within 30 days."
Ok I'm off to enjoy the nice weather today. It's BBQ preparation.
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