Welcome back to the Astroflipping blog!
I’m your host Jimmy Kimmel.
No, it's not Jimmy... it’s Jamil and today I want to talk to you about one of the most important skills you MUST develop if you want to succeed in real estate.
Finding MOTIVATED Sellers.
Whether you’re doing wholesaling, fix and flips or buy and hold real estate the key is to find homeowners who are MOTIVATED to sell their house to you for less than you can sell it for later.
What’s a motivated seller?
Someone who is looking to sell fast, for less than top dollar, with favorable terms.
I could probably talk for 30 minutes about how sellers become motivated after deaths, or getting laid off or other major life events.
But the 3 key points that make someone a motivated seller is that they want to sell fast, they don’t need to get top dollar and they are happy to work with you on the terms.
So let’s talk about the 3 BEST ways to find motivated sellers in 2021 and BEYOND!
I say beyond because obviously you could drive for dollars or put up bandit signs but that’s OLD SKOOL and I want you to have the latest and greatest tactics and techniques because I care about your success.
Drive to the courthouse, not around aimlessly for hours. This first tip is going to save you a ton of money on gas. For years people told you to drive for dollars, and just sorta drive around hoping to find a for sale by owner deal. Don’t do that! Instead drive straight to your local courthouse. Your local courthouse has a ton of free or cheap data on who is behind on their taxes, whose house is going to probate etc… And you don’t have to be a weirdo driving around neighborhoods creeping out the kids.
Homeowners Who Can’t Refinance. You’ve no doubt heard probably from me, that you need to develop relationships with mortgage brokers and realtors. I’ve made as much as 1.2 MILLION dollars from just 1 of these relationships. But you might not know to ask them to refer clients to you that don’t qualify for refinancing their home. So when a mortgage broker, banker, realtor, etc. has a homeowner who wants to refinance (whether they qualify or not) they can introduce you as somebody who can help.
A 3rd Party Data Provider. Another great way to grow your list of motivated sellers is through the use of a 3rd party data provider like Batch Leads. These 3rd Party Data Providers are great because they add an extra layer of qualification to the leads they produce through a process called “Skip Tracing” which locates the owner of the properties most current contact information. In fact with some of these services you ONLY pay if the information is correct.
If you think of real estate investing as a tasty delicious soup, finding motivated sellers is like the broth, it holds everything together.
The key to getting good at finding motivated sellers is to try to find ONE consistent way to bring motivated sellers into your orbit. Whether that’s a website, pay-per-click ads or the 3 tactics we covered today.
Start by finding one consistent tactic that brings you motivated sellers then try to add another one then another until you become a MAGNET for motivated sellers.
Ok talk soon,