How To Reach Motivated Sellers Who Need To Sell
One of the most effective methods to find great deals for real estate investing is to target motivated sellers by direct mail.
This article will walk you through how to reach that all-elusive motivated seller, get his attention and close the deal. Direct marketing is one of the fastest ways of locating great real estate investing deals by targeting motivated sellers.
This article shows you how to reach that willing motivated seller, get their attention and seal the deal.
1) Target motivated sellers
A motivated sellers is someone who is desperate to sell their house.
They must sell it to get out of a financial situation.
They could be behind in their mortgage payments, facing foreclosure, or they know they cannot afford more payments.
Motivated sellers are more than willing to negotiate below market price and leave a profit margin for you. Often the houses must be repaired before they can be sold, making them hard to sell. Real estate investors are the best buyers for such properties.
First, get a targeted mailing list of motivated sellers. The easiest way is to look for people with real estate and in legal trouble.
Such people could be going through divorce, have inherited property, have bad tenants, are making more than one mortgage payment, are facing liens, etc. Public records are the best sources of this information.
People with expired properties from the MLS have been trying to sell unsuccessfully, and could become motivated sellers. A real estate agent can help you target such motivated sellers.
I always target people who have owned the properties for at least 10 years, meaning they have possibly accumulated equity on their house.
2) Get a real estate investor website and phone number:
Before you send out your mail piece, you will need a website address and a phone number.
The real estate investor website must be able to pre-educate and pre-screen motivated sellers so that when they submit their information to you, it takes you a few minutes to tell whether it is a deal or not.
Some people will call, others will submit their information quietly from the privacy of their computer. A website saves you lots of time and headache because it tells your story in your absence, and presents pre-screened and pre-negotiated deals for you.
And it does not cost you extra for the deals it presents to you.
When you have to talk to someone, you can waste 10 minutes only to find out it is a no deal. You can get worn out pretty fast.
A good real estate investor website is suggested at the end of this article.
3) Send out your mail pieces
Postcards are my best methods of reaching motivated sellers. I get them from www.overnightprints.com. The postcard must stick out and deliver a brutal message. I like the We Buy Houses, Get Cash For Your House, etc.
You must get their attention in 10 seconds or it gets trashed.
The cards I design are brightly colored and glossy so they cannot miss them.
Always make sure your website address is prominent so they submit their information through your website instead of calling you. You must also provide a phone number.
Two postcards 30 days apart should be enough.
Probate leads receive a sympathetic, personal letter for 6 months.
4) Close the deals
Once they call or submit information from your real estate investor website, determine if it is a deal or not, then follow up with the good deals through closing.
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