The best place to find the REAL motivated sellers?

Question

What would you say is the best place to find extremely motivated seller leads not in the MLS? I am talking about sellers who are very motivated to sell like now and for a discount. Many would say vacant house leads or Craigslist. Craigslist is infested with wholesalers posing as the original for sale by owner. I don't deal with them. Vacant house leads are not guaranteed motivated sellers all because the houses are vacant. It is better to deal with motivated sellers who are more than willing to welcome any offer.

Steven Stokes · Answer

@Tony Marcelle So from your post you are looking to hit a homerun quickly. I could be wrong though. Lol But I will tell you this, unlike what you see on TV, real estate investing takes time, patience, persistence and hard work. Most of the people who find the type of Sellers you're looking for usually send out hundreds of postcards every month, and out of those hundreds you may only get 1 or 2 deals that are true motivated Sellers. It really depends on how good your list is and the area you are targeting your list. But it only takes one deal to pay for your investment in time and effort but it does take time and effort before you see any results and sometimes it takes persistent time and effort for months before seeing any results. My recommendation, if I were just starting out is I would start going to some real estate clubs, investing meetups, ect. find out what a few investors are looking for and go out and find those type of properties. Here's a tip, when you find the type of property they are looking for GIVE it to them. Don't ask for a fee or anything. Just ask if you can watch what they do because you want to learn. There are several reasons why this is effective and I don't have time to write everything about why this works really well. But watch them do the deal, get to know them, let them get to know you and the next deal that comes down that you find then ask for a little off the bottom and if you can watch again. Start bringing investors good deals and don't ask for a lot. And always ask for money off the bottom not off the top.Start slow, start small and let the snowball effect work for you. This is the way toward long term wealth. I hope this will help you get started.I wish you the best.Good luckStephen

Joshua Howaniec · Answer

If there was a list of "REAL motivated selllers" every wholesaler on the planet would be so over marketing it that it would be the worst possible list to have. There is no such list. The reason people use the forclosure lists, absentee owners list, FSBO list, and on and on is not because they are are gaurenteed hit but because they are a more likely hit. If you just mailed every person on the block you would fail nearly every time and run out of money before you ever got a call back. Ask not what list you can buy, ask who you are looking for. Once you decide that, get creative on how and where you find those kinds of people. Where are they most likely to be? What do they look like? The more perfectly you understand them the better results you will have. In the end, you may end up deciding a list is exactly what you need and which list you need. But that's ok because you will learn to craft your business in a way that succeeds with that niche.

Aaron Mazzrillo · Answer

Let's apply this to another industry;What would you say is the best place to find a super gusher oil well? I am talking about an oil well that will produce thousands of barrels of oil a day. Answer: You need to drill a lot of holes, or you need to pick one hole and drill extremely deep. It is much less expensive to drill deeper than it is to pack up and move to another field and start drilling all over again.

Steve Vaughan · Answer

The audience of eviction court. Talk about motivated seller leads!I certainly would've entertained a sales discussion at mine. I was just wore out.Thinking back, my best deals were timely unlawful detainer action mailers, forfeitures (seller-financed foreclosures) and property tax delinquents. Tired older landlords that have been self-managing forever are great for seller-carries as well.Put in the time to research folks in pain. If you can buy some random list, so can everybody else. Be different!

Jay Hinrichs · Answer

@Steve Vaughan NW is special place when it comes to county folks helping you.when I created my timber data base from OR CA border to Tacoma.. we got great receptions at the court houses very friendlyso I am thinking I am going to go after timber in Sonoma county.. CA.. I walk in like a big shot tell the counter lady I want to look at the aerial photogs.. etc etc at first she brings a few out.. then ask why I want them and I blurt out well to buy land to log... TILT she runs back out comes a senior person grabs the big books up and says we don't help with this.. your on your own.. and of course this is pre google earth.. I could go buy the telemetry images but its pretty expensive.. we did few deals out in the Russian River drainage but CA is extremely anti logging. so back to Orygun and WA with my tail tucked between my legs.. My Dad s real estate attorney told me when I was about 11 or 12.. SON you want to make money in Real estate you LEARN the court house and you learn it well.and that advice served me well.. in my early years when title plants were not on line and the title companies had their plant in their office I would go in with Donuts to Bob Bounty and watch him do search's and a few 49er tickets did not hurt either LOL.... so by the time I was 19 ish one year of real estate under my belt I could do a title search in the big books just like an abstractor/ title examiner title officer .. I would spend a few hours a week there.. My specialty at that time ( and remember I am a land guy) was chasing shadow plats.. IE subdivisions that were created in the turn of the century up to the 1930's but because they were under one ownership the assessor had merged them to one tax parcel.. under that tax parcel I found many subdivisions 10 to 100 lots.. we would then buy it like it was a bare 5 acre.. I would then take my shadow plat to the tile company I would buy title insurance on each individual lot and then the assessor would pick up the new legal descriptions and for about 200 a lot I had a full blown subdivision.. this is what my dad did as well for 20 some years.. its fun no competition and big money if done right.now in PDX we call them lot confirmations and its public knowledge There was some huge money made south of Monterey Carmel area (Big Sur) were LA dudes used the same theory and would buy say a 400 acre ocean side track of land that could only have one home and end up with 8 legal lots under it.. selling each lot and this is back in the 80s for 500 to 1 million each.. HUGE money made in that. but I digress... LOL

Jay Hinrichs · Answer

@Steve Vaughan with the unlawful detainer lists.. help me with this one.. of course I have done them.. but are they published as in public record in the newspaper ( I am thinking not) so is it you walking into the court house and looking at the court dockets ??? is that how you find them?and if this is super secret information just e mail me .... not that I am personally going to do anything with it of course but I am curious.. and like to stay up on what the real pro's do !!! not the marketing guru's@Tony Marcelle not to be to blunt here but you seem to have objections to most things IE you can't make any meetings because they are not convenient .. this does not work someone calls me a year later lead must be sheet.. I grew up working hand out and mail out leads.. you simply cannot judge them either when they write in or call in.. this is a belly to belly business. and those who judge leads before sitting in front of the Mark is going to fail every single time.. this is a very very tough business.. and Bessemer and B ham were your at... is HIGHLY competitive and has been for years.. there are deals there I fund probably 5 to 7 a month in that city and have for over 15 years.. its never ending inventory there.. but its competitive as Hell you are competing against my boys and girls there.. they do it for a living you have too many barriers to really compete other than falling into a deal like a pumpkin falling off a truck. you may need to rethink a tad.. make sacrifices... All the things you don't want or like are were the deals are...

Jay Hinrichs · Answer

Michelle B. I like it ... I see putting energy into that would be fruitfull.. but these happen mid week during the day.. many won't be able to take time off of work to do it... so what is one to do.. OH maybe hire a house wife who is looking for extra income and show her what to do ??? maybe a collage kid .. or I guess in todays day and age a House Husband as well.

Jay Hinrichs · Answer

Michelle B. I have only been a landlord kicking dead beat tenants out.. and I hire a service to do it.. I would personally never go... but I assume many do this them selves.But now that I think about it here in Orygun I think evictions are handled all in one day each week that type of thing and in eviction specific courts.seems like a target rich environment and if it is like I am thinking heck hang out at eviction court a few days a month.. that don't cost nuttin and pick up leads from burnt out landlord syndrome folks.our areas are not as renter dominated in the SFR realm most evictions probably I would say 90% or so will be from apartments.. so could be a good way to snag a tired multi family owner.. And or at least you would have the name of the landlord to chase down if they are like me and hire a service to do it for them.. or their PM does it for them.one must remember in an area like Bessemer and much of the mid west deep south huge swaths of inventory are owned by out of state folks so they won't be showing up it will be a service or their PM representing them.. or a Lawyer who takes on this kind of work.

Steve Vaughan · Answer

Unlawful detainer actions aren't listed in the newspaper, but business bankruptcy's are here in the local business journal. That's another high response group.In the county recorded docs online, we used to be able to search by doc/action name, same with dissolutions (divorce) but now would have to go to the courthouse and do some digging. The higher barrier results in a great list that hasn't been marketed to most times. I don't do it much anymore, but used to know all the courthouse clerk gals there in Chelan county. Brought them donuts from time to time and had a great relationship. Now one is in treasury dept and overlooked a whoopsie I did last year without making me go back to the seller and get another notarized sig. Just takes getting out there and meeting the folks that make your county hum!

Michelle B. · Answer

Jay Hinrichs I agree! Could be a great opportunity. In Ohio you can only represent yourself if your property isn't in an LLC. So most landlords, even if small, still have Atty representation. Even still, we all knows it's pretty damn easy to figure out who owns the property.