How to Identify Motivated Sellers for Real Estate Investing
Most of the times, the new real estate agents or investors do not know how to find properties and contact their owners. In this business, it is said that you don’t make money when you sell rather you make money when you buy something so it is very important to identify a genuine party.
It is widely believed that massive advertisement can do the trick. Though, no one can talk down the importance of advertisement but you can find motivated sellers without spending that much money. Remember, it is all about registering your presence in the market and staying connected with the clients.
Instructions
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1
Do your field work, visit the neighbourhood and look for vacant places. Most of the time, the owners or property managers have their contact information on the advertisement boards. Make note of all the information.
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2
Do not hesitate in calling those who just want to rent out their property. Sometimes, they are ready to sell if there is a solid offer. This exercise may not yield desired results but it worth a try.
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3
Do not underestimate workers like the postman, newspaper hawkers, grocery store boy etc. These people have direct contact with tenants and they can provide you first hand information. Promise them some reward and you will see how effective and economical this technique is.
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4
You can find several real estate agents in the market who are ready to provide you the information to make some commission. However, be careful while dealing with these agents as they are more interested in their own cut. Normally, they do not bother to investigate about the property and the owner.
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5
Place advertising boards around the neighbourhood. Do not put too many details on your hoardings rather it is best to just write “I Buy Houses” followed by your name and contact information. You may distribute magnetic car signs, door hangers or even shirts to advertise yourself.
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6
Another way to identify motivated sellers is to advertise what you are looking for in newspapers. However, you will have to be consistent and patient as this technique takes time to give favourable results.
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7
There are many websites providing space for property sellers and buyers. Create an account and give the details of your desired real estate item.
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8
Request your friends to look for the properties around them. Ask them to spread the word and you will see the magic prevailing.
