For those who have flipped houses, where did you find them?

[Patrick Philip]

Did you get them from the MLS? From wholesalers? From your own bird dogging?

[Account Closed]

• Expired listings - 
• Direct mail post cards - letters - to targeted owners - commercial - lots - non-conforming -
• Internet web site (received over 100 leads in 6 weeks)
• Farming - know how to - where to go - what to say - who to approach
• Radio - commercial must be sincere - have reference and be branded
• TV -if you don't look the part - hire talent to shoot the commercial for you

All of the above methods I have used and have done successful transactions - anyone with a few bucks can find leads - motivated sellers (that's the easy part of this crazy business)  - but------ the important thing here is WHAT YOU DO  when you get a lead!

• What are your objectives? Are you really an investor - do you have the cash to closed an equity packed deal?

Or did you just learn some tricks at a seminar on flipping real estate? Are you trying to disguise yourself as an investor - when you really want to CONTROL the property with a contract of sale (tie it up until you can find someone to pay you an assignment fee)?

If so - it is dishonest - unless you make full disclosures at the very beginning of your conversation with the so called motivated seller! 

When talking to a seller that just called you - or you called - what are the very first questions you intend to ask?

The first few minutes is atell - the seller is evaluating every word you say and every question you ask - the seller wants to know -- are you for real -- can you make my problem go away -- do you have the cash -- do you have skills to settle?

So choose your words carefully - the first few minutes of your conversation is very important - just remember you spend money and time trying to find a motivated seller - you don't want to blow it within the first few minutes.

The major item I need to determine is HOW MUCH EQUITY IS IN THIS DEAL and how much of that EQUITY can I control?

Do you have an INTAKE FORM - a form with questions to ask - a form that will lead you to the amount of equity (your profit)?

If you only could ask 6 questions - what would they be?

Charlie --