All Forum Posts by: May Emery

@Trevor Davidson - I agree that direct mail is very effective. You should work with a list broker to create a list of motivated sellers.

Be careful that you aren't mailing to people getting mail from all the other investors. Absentee Owners have been popular for a long time, and are apparently still somewhat effective (people are still mailing to them) but they are getting multiple offers to buy their home. It's hard to stand out.

There are some owner-occupied segments with people who share motivating factors for selling their home.

Seniors with Long-time Ownership: often ready to downsize or transition to assistance.

Homeowners with Low Financial Stability Scores (FSS): Struggling financially and likely ready to cash in on their asset.

Both these categories have additional advantages in that they probably don’t haven’t been updated and may have deferred maintenance. They won’t be expecting the same money as their neighbors with the shiny new kitchen and fresh paint.

Good Luck

@Ricky Johnson Wholesaling is about marketing to find potential deals. Mail campaigns have been effective way to find the properties.

You should consider mailing to people who aren’t on every other investor’s radar. Absentee Owners have been popular for a long time, and are apparently still somewhat effective (people are still mailing to them) but they are getting multiple offers to buy their home. It's hard to stand out.

There are some owner-occupied segments with people who share motivating factors for selling their home.

Seniors with Long-time Ownership: often ready to downsize or transition to assistance.

Homeowners with Low Financial Stability Scores (FSS): Struggling financially and likely ready to cash in on their asset.

Both these categories have additional advantages in that they probably don’t haven’t been updated and may have deferred maintenance. They won’t be expecting the same money as their neighbors with the shiny new kitchen and fresh paint.

A list broker can be a great resource to jump start your campaign.

@Sam G. When a market is hot, you need to get creative. Use some of your money on a marketing campaign to find the off-market deals. That way you aren't competing with every other person working with a realtor hoping to get a house after the owner has done all the work to get a house ready to sell.

Mail campaigns are probably the best way to reach out to people who might be ready to sell, but the process might be overwhelming. Work with a list broker to find the good lists. These might include Owners with Low Financial Stability Scores (FSS) or Seniors with Long-Time Ownership.

Make sure your letter addresses the difficulties of selling a home the traditional way. Check this blog for ideas of seller-focused benefits.  

https://www.biggerpockets.com/member-blogs/11806/84376-your-letter-to-seniors-offer-them-something-they-care-about

@Aaron Lewis it seems like you are spending a lot of time and effort chasing after just a few properties. Have you been able to get in touch with any owners of properties you have identified? if so, what percentage have been interested is selling?

This is a numbers game. Rather than spending all your time and effort chasing down a small few, think about expanding your reach with a mail campaign. Work with a list broker to come up with a good motivated list. This might be Owners with Low Financial Stability Scores (FSS) or Seniors with Long-Time Ownership. This way you get your offer out there to a larger audience and increase your chances of getting a deal in a shorter period of time.

@Alex Pautler, I agree with @Patricia Steiner about off-market. Mailing and calling are the effective ways to contact them, but you do want to target people who might be falling behind in maintenance and ready to get out from the responsibility of ownership.

Think about working with a list broker to find the targeted lists. Two recommendations might be Seniors with Long-Time Ownership (ready to downsize or need assistance) and Owners with Low Financial Stability Scores (struggling financially).

Good luck

@Tim O'Rourke Consider working with a list broker to get your lists. Pricing will be about the same as the on-line sites but they will have more options and recommendations for some of the newer motivated seller lists.

Some new off market lists include Owners with Low Financial Stability Scores (FSS) and Seniors with Long-Time Ownership.

There's always the Absentee Owner list, but in most places all the other investors in your area are already sending offers to them. It's hard to compete.

@Ryan DeRobertis You can certainly drop off flyers as you drive around, but remember, this is a numbers game and it sounds like your time on location is limited. A much better marketing plan would be to plan a mail campaign. You can purchase lists for motivated off-market leads.

Some lists to consider include Owners with Low Financial Stability Scores (FSS) and Seniors with Long-Time Ownership. Absentee Owners are also available, but be aware that there are already a lot of investors in the Philly area who are sending offers to them.

Consider working with a list broker to get help with the list.

@Ben Lapane I'll send you a PM

@Ben Lapane Good idea to try to find your own deals. Consider working with a list broker. They will have access to some of the new motivated seller lists so you aren't competing with all the wholesalers out there who are contacting the same people. Absentee Owners get a lot of mail and offers to buy their property because that is who is available on most of the on-line systems are most mentors recommend them.

Some new lists that might be worthwhile considering are Owners with Low Financial Stability Scores and Seniors with Long-Time Ownership. Both these groups have probably fallen behind on updating and maintenance so you will have room to negotiate a profitable deal.

Good luck (you can PM me if you want more info)

@Henry Urey Rivas Getting a list is key - and which list you get is also important. The Houston market is very crowded with investors so you don't want to be calling the same Absentee Owners that everyone else is contacting.

Consider working with a list broker. They can make suggestions for some of the new off-market leads that are proving to be effective. These might include Owners with Low Financial Stability Scores or Seniors with Long-Time Ownership.

Good luck