Finding the motivated sellers for a Sub-to
What's a good way to find motivated sellers for a sub-to deal. I'm thinking you advertise like you normally would when promoting your business and you just have to recognize when it's appropriate to use it. as opposed to using some other type of strategy.
Clif
pbodys,
Advertising is one way. Run ads or post signs that say something along the lines of "I will buy or lease your house within 7 days. Ugly/problem houses OK." I think you get the drift. You've probably seen some in your local newspaper.
Also, pay attention to the For Rent ads in your local newspapers. An ad that has been running continuously for a few weeks is bound to involve a motivated landlord who might consider selling/leasing you his property to be rid of it. This method also works well for the For Rent signs you might see posted around your neighborhood.
Any house that has been on the market for a long time is a good candidate.
Just ask! You won't know if the seller is willing to leave the existing financing in place unless you ask! Don't ask, don't get!
Hope this helps.
[addsig]
pbodys,
The way to find motivate sellers is to have them call you through your marketing efforts. That's right they call you not the other way around.
Any pro investor never has to ask if the Seller is willing to keep the loan in their name, you tell them they are through the Power of Presentation when you meet with them. Remembering it must be a win/win situation before you commit to purchasing the sellers property.
Also, I don't have to ask questions like 'what is the balance of your loan and what are the monthly payments". I know how much the mortgage balance and payment is within 5 minutes after I have hung up the phone and set the appointment to meet with them.
If I find anything out of line I call them back and cancel the appointment, with just a "after checking out your property it dosen't fit my program, thank you for your time.
John $Cash$ Locke
Thanks John, as always you've been helpful..