Quote from @David Ramirez:
Quote from @Jerryll Noorden:
Wait a sec.
How do you pull a "tired" landlord list?
Let me try to show you something if you don't,mind.
I am a landlord, right? I own several properties.
I think .. that 60% of bigger pockets here are also land lords? Ask them if they want to sell their house below market value. I am willing to bet most landlords are landlords for a reason. PASSIVE INCOME! So right off the bat, it is a REALLY bad list. You are targeting people that per DEFINITION do not want to sell, they WANT to own. So you are literally targeting the exceptions, the minority.
Makes no sense right?
Now let's dig deeper.
So you can not get a list of "tired" landlords. That is not possible. .. but for argument's sake let's pretend you somehow did get one.
Because they no longer want to be landlords you assume they are OK with selling below market value?
From the entire list of landlords, only a minuscule fraction would want to sell... and from THAT minuscule fraction, an ever SMALLER fraction would be willing to sell at a discount.
Think about it, my dude. What seasoned (regardless if they are tired or not) would GIVE AWAY all that well-earned equity TO YOU, just like that!! Wouldn't you think that if they no longer want to be a landlord they would sell it for as much as they can? I mean they are investors, and savvy in this space right?
Are there those that are SOOOO desperate that they would sell at a discount? Sure? Maybe? who cares!!
That you are spending time money and effort to GO FOR that list seems absolutely crazy to me. It is like people are trying to go out of their WAY to make this hard for themselves. It is like people get off on failure.
Why on EARTH would you go for that lsit? Let me guess. Your favorite Guru told you this right? Or that is what every person here on BP says right? Dude, there are more dumb and stupid people walking on this planet than there are smart ones. I would NOT follow the masses. Follow that one guy that has almost no followers that speaks common sense and logic, that speaks DATA. That kind of people won't have followers! they have success!
Mind you..
In the beginning, I said... you CAN NOT target "tired" landlords.
Can't! Impossible. Who knows other than the landlord themselves they are tired?
ONLY they know.
Nothing else and no one else can possibly know they are "tired". So, there doesn't exist a way, system, gadget, or software that can get you a list of "tired" landlords. How would they determine they are "tired"? How can anyone possibly determine some random stranger is tired of owning property?
Now there will be plenty of people that will say "ohh don't mind him, I got plenty of deals with this list". Absolutely.
But what you will NEVER hear about is that for every one person that brags about their luck finding a deal this way, there are thousands of others that tried the same thing with ZERO luck! But you will NEVER hear from those people. You only hear about the ones who had success.
Be careful.
Take this however you want to. I am just trying to help you .. and whoever read this
Hey @Jerryll Noorden,
That's actually a good list for motivated sellers. A "tired landlord" means that they have gone through evictions or through several tenants in a short period of time.
No man, absolutely not. That is not at all motivated sellers. Let me explain.
See, try to unlearn what you think you know and clear your mind. Remove everything from it, and start clean.
This is my point:
1. A landlord dealing with multiple evictions, doesn't imply they want to sell.
2. A landlord dealing with multiple evictions doesn't imply that even IF they want to sell, they are willing to sell below market value.
Do you see my point? Way too many people draw completely irrelevant conclusions from the data they have.
"Yesterday I saw a green apple on TV. Today I went to the supermarket and saw a red apple, so I will conclude that today, I will see 3 helicopters flying by over my house".
How is having seen a green apple, and then a red apple, imply 3 helicopters? Much like how does a landlord having to deal with multiple evictions imply selling their house for below market value?? Based on what are you concluding this? Show me the data that supports this. Show me where you sending 10 mailers to the tired landlord list between 5 and 10 contracts will be signed. If you can show me this, then yes you are right. But you can't show any data that even remotely resembles these numbers right?
The mistake you and so many others are making is simply this:
You have data... and you simply see what you WANT to see in that data. But that is not the case.
Is it POSSIBLE that someone with multiple evictions decides to give up, sell their house, and give all their hard-earned equity to you out of sheer frustration? Sure! Could absolutely happen, yes. But not likely.
Proof.
If you send 100 tired landlords a letter, how many deals are you going to make? Probably 0. But let's say you make 10 deals (which is absolutely not the case) that is still but 10%. If I told you I have a bag of apples... and in that bag, there are 90 oranges and 10 apples (10%) are you going to convince me that you have a bag of apples? No right?
If you have a group of 100 tired landlords, and only 10 will sign a contract, are you going to conclude that this group of tired landlords are motivated sellers? when only 10 out of the 100 are motivated? No right? This is data-backed concrete mathematical proof that you are wrong.
Someone having dealt with multiple evictions doesn't somehow increase the probability they want to sell below market value. Do you understand the logic here?
Keep this in mind.. and this sounds really egotistical, but nevertheless true.
There is no room for argument here. There is no debate. What I said is universally true and accurate backed by logic and common sense.
Assuming that somehow you will have more chance because they are troubled in some way as a result of being a landlord, doesn't imply giving the house away. There are a TON more solutions that would be far more attractive to a landlord.
One of them is, to vet tenants better.
I am giving you the courtesy to show you where you are wrong so that you can improve. I am not debating whether you are wrong or not, nor am I trying to convince you that you are. You can agree with me, or disagree with me, and that is up to you. I am just sharing actual truth with you so that if you decide to listen to me, you will do a lot better when it comes to lead generation. I am honestly trying to help.
So no .. That is NOT a good list of "motivated sellers". Not in a long shot.
