Posted by Rich[FL] on February 13, 2002 at 12:34:16:

How do you find motivated sellers? Let them find you - advertise that you buy houses and have them call you so you can further screen them; or have them call a voice mail system that gives them a little more information about your program and asks them to leave a message if they’re still interested. This pre-screening eliminates a lot of the “tire kickers” who only waste your time.

Pre-foreclosures are another thing, sort of. Often these people bury their heads in the sand in the hope that the problem will go away; chances are they won’t call any “I Buy Houses” ads. With these people, it’s probably better to send them postcards and letters to get them interested motivated to ask you to help. That’s what I’ve been doing lately. To find who is facing foreclosure action, “simply” go to the courthouse and tax office (physically or on-line if available) and look for the Lis-Pendens filings in the courthouse records. These are often the first notices the “world” has that a mortgage company is initiating foreclosure action.

Since you are new, I’d suggest reading through everything here (like you’ve been doing) and reading through Carlton’s course when it arrives. Carlton is very basic, but it does cover the myriad ways someone can get involved in investing. While he covers a lot, oftentimes the details are lacking. That’s what this site is for - to fill in the gaps and to offer more detailed subject-specific courses, like Lease-Options, foreclosures, subject-to, paper, mobile homes, etc.

Read, ask questions, and experiment. That’s the best way to learn you market and investing techniques. Put ads in the paper, call FSBOs, visit open houses and ask the agents questions, etc.

Good luck! And welcome to our little community!



Posted by Gary O on February 13, 2002 at 11:29:33:

I have heard a lot of people on this board talk about finding home owners that behind in there mortgage or taxes. How do you go about finding these people. I’m new to CRE and have ordered the Carelton Sheets course. It should arrive this week (I hope). I’m trying to do everything I can now, so that when it comes in I should have a head start. I’m looking at all the houses for sale in my area and basically just scoping things out. I’m real anxious, but scared, to do my first deal. Any help on ways to find owners, other than placing adds, would help a bunch.

Just a note. I’ve been reading through this entire website everyday, and all you people out there are GREAT!!! WHAT A COMMUNITY!!!