Enidhomes.com – How do I find Motivated Sellers of Real Estate?

Over the past several weeks, I have had many potential home buyers ask me: What does a “motivated seller” mean and how do I find them. Here is some information I’ve gathered and synthesized from several articles on the internet,  I hope this helps.

What is a motivated Seller? One investor explains, a motivated seller may “Sell their property for a VERY low price (when I say low, I mean REALLY low. Think somewhere in the neighborhood of 10% – 30% of market value) or  Sell their property with VERY flexible terms (i.e. – we’re looking for a seller who will finance the property for you, require no money down, and charge 0% interest)

How do I find Motivated Sellers?

1.) Join a real estate investors groups on social media. One of the best ways to get tips about motivated sellers is to form a relationship with other real estate professionals. It’s often the case that news about pre-foreclosures and motivated sellers will circulate within an online network of real estate investors.

  • You can find online groups by simply searching for “real estate” on the relevant social media website. Be sure to find groups specific to the area where you want to invest in real estate.
  • Don’t forget the LinkedIn is a social network and offers a great way to network with real estate professionals. LinkedIn also has groups for specific interests, such as real estate investing.

2.) Use Craigslist to advertise that you buy houses. Craigslist is the classified ads section of cyberspace in the Information Age. It’s a great place to advertise to the world that you’re willing to buy houses and close quickly. Run an “I Buy Houses!” ad consistently on Craigslist and motivated sellers may start to contact you.

  • Remember, Craigslist is regional. If you’re prepared to make an investment in properties in different locations, you’ll need to run a Craigslist ad for each area.

3.) Search for pre-foreclosures. You can search online for pre-foreclosures in your area using the foreclosure websites.You should find some very motivated property owners among the pre-foreclosures in your area.

  • Even if you find a pre-foreclosure property owner who’s motivated to sell, you might find that you’ll need to opt for a short sale. That’s when the existing homeowner has to sell the property for less than the amount owed on the mortgage. Since short sales require lender approval, it can take months to close on the deal.

 

Once again, this is information was gathered from articles on the internet,  I hope this will help you.

Happy House Hunting,

 

Greg

Greg Winkeljohn - United Country Lippard Winkeljohn - Broker - Owner

p.s. for more detailed info see:

How I Find Motivated Sellers (And Get Them Calling Me). Step 1: Getting The List

http://homebuying.about.com/od/buyingahome/f/022908_MotivSlr.htm