Yard Sale leads...what? Where have you gotten leads rarely discussed??

Question

For as long as I can remember I have kept contracts in my vehicle b/c you never know when your gonna need one!! I have heard about people seeing someone stick a for sale sign in the yard while they were driving down the road and got a great deal b/c they had their contracts in the car.

I use to go to a lot of yard sales, I have bought and sold a lot of stuff for extra $$ and I figured out a few things along the way! People quite frequently have yard sales for a lot of reasons that may benefit your real estate business!!

Here are a few: Need cash to stay afloat, preparing to sell, preparing to move or bailing out b/c they cant afford the home, a family member deceased and they have to sell the stuff before selling the home, raising $$ to help a family member in distress, raising $$ to make repairs they cant afford, and their are probably so many I cant remember or think of!!!

I have found just a few that I was capable of handling and I don't always beat the streets looking for leads like this but one thing is for sure I always ask when I am at a yard sale if they are going to be selling the property or know of anyone who is? I don't direct mail but if I did I would definitely use the newspaper yard sale addresses!!!!!!!

What are some rarely discussed places that you have found for leads???

THIS SHOULD BE INTERESTING!!!!!

Account Closed · Answer

There's an opportunity here I think, you just have to find how to reach the sellers that need you. Separate yourself from the others and market yourself as the privacy guy.  A much needed service in a small town.  "You can sell with absolute privacy.  No showings, and no For Sale signs".  Last summer I started running a print ad, and got a call from a seller in a remote little village, population 1K.  No gas or groceries for 50 miles.  They needed to sell as they were moving out of state.  They had a very nice RV and housing where they were going. But they didn't want their neighbors to know anything about the sale:  when they were leaving, the sale price, or where they were going.  They were selling at a terrific loss (20% of their cash purchase price) as they had WAY overpaid when they bought at the top of the market in 2006, plus done a ton of improvements.  They sold me their furniture too.

These folks wanted absolute privacy and discretion. I didn't make any promises I couldn't keep.  I told them I could keep the transfer tax off the face of the deed, but that the info is public if someone goes into the recorder's office and looks it up. They were satisfied with that.  I've since added the privacy message to my marketing.  Obviously it doesn't work for wholesale deals one is planning to shop around while still under contract.  But any unique selling proposition is worth considering in a competitive market.

Bill Gulley · Answer

Unharmed but with a few more miles on it I'd bet. :)

Yes, always have contracts with you.

Reasons people sell a house:

New job, watch the paper for promotions in the business section.

New baby announcements, white picket fence buyers.

Getting married, they gota go some place, they may be leaving a place too.

Estates have been beat to death, what about the heirs, did they get a fist full of $$$$$$?

Bankruptcy filings, contact their attorney first, this can be touchy too.

Dangerous building lists at the city building regs office, addresses are usually public domain.

Get to know nursing home administrators if the house sells they can get the fees paid!

Contact the local County Administrator, usually property goes to auction, but not if the heirs can sell it, they also take care of assets taken under other circumstances, child trusts for example, let them know you're alive and a buyer.

Social Services has in processing type administrators who qualify folks for benefits, many won't qualify with excess assets or rentals, cash flow is usually insufficient to pay medical costs and they need to sell to qualify. This is a great source for note buyers too.

Trust companies don't really want RE in a portfolio, they want assets with easily determined market values like stocks and bonds, get to know them as well.

Get with a builder, you can buy from them and they can work out a trade on a new home.

Military folks need to know the housing referral office, list as a landlord but many can buy.

Work with your insurance agents, buy leads if you can, they hit the "you and your family" markets for insurance and their clients can be yours as well, going under the source radar.

Attorneys can be a source if you have a good relationship, they can be sources but don't ask for a referral so much as they see liability in suggesting who to deal with.

Stock brokers might love to have clients sell rentals and invest with them.

Hospital employee bulletin boards, you'll target technicians, admin and support services. Actually that goes for any large business operation, Lowes has an employee board. BTW, you might be surprised what the lumber yard and box store employees know, network with them too.

After you're seasoned and known, title companies, appraisers, banks and inspectors can prop up your referrals or inform you of who might sell or buy. After they have seen you in action and know you can perform you'll find such referrals can keep you busy.

All building trades, know these guys/gals, they do repairs prior to marketing a property.

Socialize! Contacts can be made through church, associations, civic groups, non-profits that have everything to do with RE or have nothing to do with it.

Most everyone lives someplace, walk and talk, your waitress lives some place, she has relatives too, I have gotten several deals out of a Waffel House. All you have to say is "know anyone looking for a house or wants to sell one?" My mom would ask that question waiting in line at the grocery store....guess what, it worked often! "If she was gutsy enough to ask she was gutsy enough to sell my property" I was told by one of her clients. Get yourself a low key, non-pushy elevator pitch. Keep the pitch to less than 30 seconds, if they want more info you can go further. Bar tenders can be a gold mine in the right place.

Get to know your court house and the people there, know how to search a property down from the assessor's office, to building regs and occupancy permits,  to the recorder's office and business filings.

I can't understand anyone buying leads when they are free! Just need to know where and how to look for them. :)

Rick H. · Answer

I occasionally buy probate houses that include cars in the garage.

A while back I bought a duplex and could see that they left me a "present" in the garage.

It was definitely a sports car because I could see part of a low white fender and canvass convertible top although most of it was covered with pack rat stuff.

What was it? A rare car? A Ferrari?

Nope. It was a Spit-wad (Triumph Spitfire).  Bummer.

Shannon Sadik · Answer

@Jared Kemper

@Dev Horn

Great suggestions! Those are easy and have good potential. I know that I had a garage sale recently and was telling everyone that came that the house was for sale, too!

Account Closed · Answer

I've been asked several times over the years by sellers not to disclose their selling price or give any details anyone who asks.  It seems the neighbors always ask, so my answer became "you'll have to ask the sellers".  But the deal last summer made me aware of how small town life had these particular sellers looking for privacy more than anything else.  I told them they would get twice as much if they listed it.  They weren't living in the property at the time, and an agent could have gotten it sold in a few weeks.  But they really needed to be done with the property and needed someone to buy it very quietly.  I was happy to oblige!

Since you're in a small town with known competition, I'm thinking you could set yourself apart by making sellers aware that you're the other buyer, the one who listens to what sellers need and solves problems.

Bill Gulley · Answer

Partner with a strawman, find a well liked fellow who can keep business secrets. You fund him, cut him in for a bite, later you can take the property through an LLC between members. See your attorney as to staying under the radar. I understand exactly what you're saying and you need to go a bit out of your way to keep things confidential in a small town, that means a front guy, while he gets a bite you'll have more on your plate later on. Good luck. :)

Dev Horn · Answer

This is an example of THINKING like a MARKETING / BUSINESS GUY!  Love it!

I've gone to Estate Sales to find out what is going on with the house.  Why not do it with yard sales? (or "garage sales" as we call them in TX =)

Jared K. · Answer

Rick H. Cool story, too bad it wasn't a huge find but I bet you figured out a way to make some $$ of of it??

Jared K. · Answer

Bill Gulley Sounds like a good idea. Not saying it wouldnt work but most of the well liked fellows have friends in real estate b/c they know all the business men in this town. People dont keep many secrets here so thats a big part of my battle. I have had several deals ripped right out from under me and people will do anything to cut you out of the deal!! Savages I tell ya!!!!! Ruthless cutthroat scoundrels that smile at you all the way!! I know I can record my contracts etc etc but somehow it would just come up missing or something. I just stay positive and push through the hurdles like a bull on steroids!! I refuse to give up and I will be a success!! No one has the right to determine my future!!!

Jared K. · Answer

Bill Gulley Like your way of thinking my friend and thanks for the reply!! I am sure many of those are not typical places people look for leads so this will be useful. Sounds like you have done your fair share of being creative for them! I live in a small town so when people really need to sell they go to the brokers, builders, and the few other investors that people know that buy/sell property and he who has the $$. It makes the competition fierce when everybody knows everybody!! Deals are tough to come by here b/c all of the above mentioned people buy em up themselves so I try and be creative!! I am always looking for deals but I don't run around pretending I am a rich guy that buys a ton of houses either b/c I don't want to look like an idiot, which is what would happen here in my small town. People talk and everybody listens so it makes it tough and that's why I try to be so creative in finding deals. I try to not worry what people think but it makes it tougher in a small town.

Yard Sale leads...what? Where have you gotten leads rarely discussed??

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