Finding motivated sellers is one of the most important steps in real estate investing. Sellers are motivated by a number of reasons, and you must be patient and persistent in following up with them. When you have made contact with a seller, you should ask them about the value of their home in its current condition and the asking price for their property. These questions will give you insight into their motivation. If the seller is only willing to sell for 5% below the market value, he or she is not motivated.
Working with a motivated seller will open up many avenues for creative investing. It will also allow you to work with more sellers than you would otherwise, and it will allow you to keep more of your profit potential and upfront costs. In addition, working with a motivated seller will be less stressful than working with a seller who isn't emotionally attached to the property.
Motivated sellers may be difficult to find, but a few techniques will open up your search. One method involves contacting local attorneys. These attorneys are typically better connected to distressed situations, and you can offer referral commissions to them. Another good resource is city inspectors. These inspectors know which properties have a high risk of code violations, and they can contact the property owner by phone.
The second method is to make yourself visible in the real estate market. This means giving out business cards. Ideally, you should give out five to ten business cards a day, and 35-70 business cards per week. Additionally, you should set up a website for your business, and advertise your real estate investing business on it.
Another way to find motivated sellers is to network. You can also contact real estate agents to let them know about your search. These contacts may have a list of motivated sellers, and you can contact them through their network. Sometimes, motivated sellers may offer hints that make them want to sell, but sometimes they need a little push in the right direction.
Motivated sellers are a great way to get a bargain, but they require a bit of extra work on your part. This method may seem more difficult than finding a traditional seller, but it can be far more profitable. A motivated seller is one who wants to sell their property and is willing to accept a below-market cash offer.