If you're going to ask a real estate investor what's the biggest challenge he has encountered while starting out in the business, you'll probably get this answer: finding leads to motivated sellers. Indeed, many investors are having a hard time finding homeowners who are willing to sell their properties at discounted prices. But if you're going to let this particular challenge discourage you, you won't be able to reach your full potential as real estate investor.
For those who are having similar problems, here are some hints and tips that will help you find motivated home sellers when flipping houses:
- Look for FSBO (For Sale By Owner) signs. If you have lots of time to spare, you should drive around neighborhoods and look for FSBO signs. These signs are like an open invitation from motivated home sellers for you to buy their homes. Therefore, you shouldn't be afraid to talk to homeowners who have such signs on their lawn because these people are in dire need to sell their properties.
- Check out online classified ads. Online classified ads, such as Craigslist and Kijiji, are great sources of leads to lucrative real estate deals. As you may know, many people who want to get rid of their properties, including houses, post ads on these sites to find potential buyers. By taking a look at these sites, it would be easier for you to find homesellers who can provide you with profitable investment properties.
- Search for vacant houses. This is probably one of the lead generation strategies used by those who make money by flipping houses. To locate the owner of abandoned homes, write down the address of the vacant property that you want to invest in. Then, look up the names of the owner by checking out the office of public records. Once you've got the pertinent information, you should contact the homeowner and express your intent to buy the property.
- Send mail and tell people what you do. Although some people think that sending snail mail is a little bit old fashioned, many real estate investors agree that it is one of the most effective ways to find leads to motivated home sellers. So don't be afraid to mail those letters, especially the yellow ones, because it can help you secure a profitable investment property.
For more tips on flipping houses and making real estate investments, log on to www.RehabList.com.
