Finding motivated sellers? - Posted by Christy

Posted by Rob FL on February 15, 2001 at 19:53:56:

It definitely takes some courage. It took me about 30 or so door knocks to really feel comfortable with this.

What I normally do when they answer the door is ask “Is Mr. Smith home?” Then I introduce myself and get right to the point. I mention that I know the house is in foreclosure and wanted to find out if they have any plans to do something about it. Then I shut up and listen.

Many times they will say “It’s all taken care of.” or “It’s all a big mistake because of such and such.” or they start telling you some long sob story. 90% of the time I get rejected by them on the first visit. I then give them a flyer describing everything I do. I also give them a few testimonials from satisfied customers who I bought from.

A person could write a whole book about this subject. My advice about dealing with foreclosures. Buy Joe Kaiser’s course on Totally Dominating your Foreclosure Market. It is a goldmine and is priced very reasonably.

Finding motivated sellers? - Posted by Christy

Posted by Christy on February 15, 2001 at 10:39:49:

I have been at this game for awhile but would like to be really aggressive this year. I have mostly relied on the HUD foreclosures and MLS to find fixers/flips. It seems lately that too many other people in my area have also discovered this is a great way to make money. Not only are they getting harder to find but people are paying too much for them! Where are you getting your leads? Whose courses should I be buying? Any direction would be appreciated.

Re: Finding motivated sellers? - Posted by Rob FL

Posted by Rob FL on February 15, 2001 at 16:02:13:

I do agree with Jim that you need to be doing what you can to have sellers call you, but I also believe very strongly in aggressively looking for distressed properties and motivated sellers. I do both types of marketing.

Distressed properties like HUDs, VAs, bank-owned properties, MLS listings by distressed sellers will seldom be calling you. From what I have read here anyway, Steve Cooke almost exclusively goes after these type of properties.

Another heavy area of distressed properties are pre-foreclosures. I get a list every week of all the new foreclosures filed in my county. In about an hour’s time I can sift through these to find ones that meet my criteria. I then spend Saturday door knocking. Joe Kaiser apparently does something very similar as described in his Foreclsoure course.

Just some thoughts.

Re: Finding motivated sellers? - Posted by Jim IL

Posted by Jim IL on February 15, 2001 at 15:12:50:

Christy,
First, looking for sellers and homes is okay, IF you have time to burn and don’t mind wasting a lot of it talking to non motivated sellers.
But, in my opinion you are better off letting the sellers find you.
Just make yourself EASY to find.
Market your self agressively, and the calls will come.
Goto the archives here and look up marketing and you should get some GREAT ideas to make your phone ring.
I’d give you some ideas now, but I’m out of time. (need to go meet a seller who called me.)
Take care and good luck,
Jim IL

Re: Finding motivated sellers? - Posted by Joe(NY)

Posted by Joe(NY) on May 03, 2001 at 24:18:51:

How do you get these lists delivered? Is this some sort of subscription?

Finding motivated sellers - Posted by Lisa Jones

Posted by Lisa Jones on February 15, 2001 at 17:49:30:

Hey Rob, you actually knock on their doors univited? How do they rec’v you? How is your success rate? I am hungry and this approach sounds really interesting. When they open the door how do you begin discussing so personal as finances? Any pointers you can provide would be appreciated.

Thanks.
Lisa Jones