Help building first list using ListSource for Houston

[Tristan S.]

Hello,

I am trying to build up a list using ListSource. Kind of overwhelming considering the number of options available. 

I have a set up area chosen here in Houston where I would like to find motivated sellers. What is the best strategy? what criteria should I use on ListSource to help me? 
Would it be better to aim for absentee owner, or owner occupied with loan issues ?

Please if you could provide some pointers (equity, price, age..etc), that would be greatly appreciated.

Thanks

[Steven Leigh]

Originally posted by @Amanda McCoy:

@Brent Hill  I have recently changed my list to less equity. Starting at 60 % is too high. You're right. We want people that are in distress and the more equity they have the less incentive to sell at bargain price.  

 I disagree with this. Assumption is the enemy. Don't make assumptions about someone's motivations or about what sort of price they will accept, etc.

For example, I just wholesaled several houses that had 100% equity, and the owner was extremely happy to get rid of them for about 40% of ARV because they needed work, and she owned around 30 rental properties with bad tenants and had no interest in dealing with the properties anymore.

People have all kinds of motivations and you don't want to make any assumptions. Just let the seller decide what works for them.

This is the big issue that people don't understand when they talk bad about wholesalers like we are swindling people out of their properties at low prices. Let me tell you, I don't own a gun. So I can assure you I never held a gun to anyone's head and made them take my price. :) In fact, in the example above, I told the seller repeatedly that she would make a lot more money on her properties if she took the time and listed with a realtor. I always look out for the seller's best interests FIRST. I don't care if that loses me a deal. But if they don't want to go the other routes, I let them know what I can do for them, and since they are adults, they can make their own decision whether to accept it or not. No coercion needed.