Finding success in real estate isn’t rocket science, it really isn’t, but for a number of reasons there are A LOT of people who struggle and struggle to make this business work for them.
As you know, the concept of real estate investing always sounds great when you’re hearing success stories on an infomercial or at a seminar, but when most beginners start trying to apply themselves in this profession; they find out very quickly that the simple act of buying a real estate book or course doesn’t make you instantly successful.
Succeeding in real estate does take an ongoing effort, but beyond the fact that you have to simply try – the mechanics of the process actually aren’t that difficult. I find that most people who struggle and fail at this business do so only because they aren’t able to find a competitive edge – the advantage that cuts through their competition and puts them WAY ahead of the pack.
It’s easier said than done, but once you do find your competitive edge, the rest is downhill. Finding a sustainable strategy is crucial, because if you aren’t able to differentiate yourself from the thousands of other investors in your market, you’re going to have a very hard time getting anywhere.
If you want to find success with real estate, the number one priority is for you to find motivated sellers, and lots of them. If you can’t do this, the rest of the process isn’t even worth talking about because it all starts with having a seller who is willing the play by your terms.
So, what can you start doing TODAY to find motivated sellers? There are actually a lot of ways to do this. Here is a quick list of 50 ways you can find motivated sellers right now (special props go out to Kenneth E. of the BiggerPockets forum for compiling this list):
- Send mailers to out of state landlords of multifamily houses
- Send mailers to absentee owners of single family houses
- Send mailers to vacant land owners (only in specific areas in the path of growth)
- Place “We Buy houses” flyers/business cards at unemployment offices….a lot of people there could be having trouble with their homes and may need a solution
- One-page Flyers posted on bulletin boards at large stores
- Post ads on craigslist stating, “We Buy houses”
- Send emails to craigslist ads with properties for rent (the emails will go to landlords who may be looking to sell, or buying more properties)
- Mailers to specific zip codes, asking if they want to sell or know someone who does
- Mailers to divorce attorneys who can refer clients
- Mailers/emails to FSBOs
- Buy a “leads list” of landlords from AgentPro247 or RealQuest
- Post ads on Backpage stating ”We Want To Buy Your Property”
- Send mailers to properties purchased between 3k-20k within last five years (the owner might be a novice flipper who never did anything with the property)
- Send mailers to Estate/Probate Attorneys (if you have an attorney, consider having them send the letter, because attorneys tend to open mail from other attorneys)
- Bandit signs: “We Buy Houses”
- Send mailers to owners who have owned for 15 years or more (these properties tend to be owned free and clear, which means they could be much more flexible with their sales price)
- Send mailers to people facing foreclosure
- Target people who own vacant homes – these are almost always ripe for purchasing at a discount
- Target people who are dealing with financial chaos of any sort
- Send ads/mailers/business cards to Credit Repair Agencies & Credit Counselors
- Target HUD/VA Foreclosures
- Purchase leads lists of folks who inherited homes
- Send mailers to people arrested for violent crimes (going to prison for a long time)
- Send Mailers/ads/business cards to Realtors
- Send mailers to employees who have been laid off (ie “corporate downsizing” in the news)
- Networking with other investors
- Locate list of section 8 approved properties—send mailers to the owners
- Post Newspaper classified ads: We Buys houses
- Send mailers to Properties with liens: Mechanics Liens, HOA Liens, Tax Liens
- Contact sales people at new home subdivisions (their clients will want to sell their OLD houses) or place a sign near a new home subdivisions that say “Sell Your House Fast” with your phone number. Often times, these new owners will be desperate to sell their old houses ASAP.
- Contact mortgage companies; they may know of people wanting to sell their old house/last house
- Hire bird dogs (sometimes even through craigslist “help wanted” ads)
- Send mailers to Bankruptcy court listings
- Send advertisements, business cards to Accountants and CPA Firms: They have clients with financial problems where an investor can be of help.
- Send ads, mailers, business cards to real estate attorneys
- Advertise “We Buy Houses” using Apparel with Logos: Hats, T-Shirts, Golf Shirts,
- Send to anyone getting their car repossessed: If the car is going the house isn’t far behind.
- Send ads, business cards to carpet cleaners: Many of their customers are preparing a house for sale.
- Send mailers to charitable groups/churches: They frequently receive gifts of real estate, but they’d rather have the cash.
- Send ads, business cards to City & County Inspectors: Code violations and red tags. (If you develop a reputation of buying distressed properties and improving them, you become an asset to the community)
- Place ads on boards at Nursing & Retirement Homes: Frequently residents need to sell a house.
- Consider placing Door Hangers on target properties: You can also use pre-printed post-it notes to leave messages at target properties. Be sure to advertise on both sides, you can even sell the back side and recover your advertising cost!
- Send mailers to addresses of people having Garage Sales: Are they moving?
- Send mailers to Hair Salons/Barbers: These places are social hubs – lots of talking going on during haircuts
- Send mailers, ads, business cards to Insurance Brokers: Policy changes from owner occupant to landlord or vacant house coverage.
- Recruit Mail Carriers to notify you of vacant properties
- Send mailers to owners of multiple properties (target them to offload portfolios)
- Post advertisement in PennySaver type papers: “We Want to Buy Your Property”
- Send mailers to water, gas, and electric company shut off lists
- Or, just buy leads from:
- a. www.listsource.com
- b. www.USLeadsList.com
- c. www.MelissaData.com
- d. www.zbuyer.com
- e. www.foreclosuredata.com
There are actually many, many more ways to find motivated sellers beyond this list. The idea here is just to help you realize that there are no excuses for you to sit on the sidelines and wonder how the “successful people” do it.
THIS IS HOW IT’S DONE.
I am very serious when I tell you that there are thousands of sellers in every area of the country who NEED YOU. They want to sell their property now and they are willing to play by your terms.
Pick one or two of the options above and pursue them with a vengeance. With a little bit of hunting, you’re sure to find them.