You probably have a few go-to methods for finding wholesale deals. Or maybe you’re just getting started and haven’t even gotten that far yet. Here’s a long list of ideas you can take and use to find motivated seller leads you can wholesale.
See which ones fit your style. And keep in mind, while some of these may take more effort than others, people in general are lazy, so you’ll find less competition among the ones that take more effort.
Make friends with these people and they could provide you with all kinds of leads that no one else gets access to.
- Craigslist ad sellers must have a reason why they’re not listing with a real estate agent. Maybe it’s because they can’t afford to pay the commission or they know the property isn’t retail market ready. Find out their motivation.
- Attorneys – Create relationships and stay in touch with divorce, estate and bankruptcy attorneys because they’ll have clients who need to sell houses because of their situations.
- CPAs – Like attorneys, CPAs also know who is in financial distress and may need to liquidate property ASAP for bargain basement prices.
- Real estate agents Great people to know. Let them know what area you’re looking at and what you’re looking for. These are your passive locators. Individuals that can look for properties for you, even while you sleep!
- Title companies might be able to refer you to sellers whose closings fell apart at the closing table. Those sellers are going to be especially motivated to want get rid of their homes.
- Mortgage brokers know when owners have tried to sell their homes but couldn’t get qualified buyers. They’ll also know homeowners who have tried to refinance, but weren’t able to due to poor financials. These owners may be looking to sell at a discount.
- Random referrals – Hand out business cards and let everyone know you’re looking for wholesale properties. You never know how the next great deal will show up. Ask for referrals from friends, acquaintances, business associates, family and grocery clerks.
- Mail carriers know which houses on their routes are vacant.
- Service providers, such as maid services, carpet cleaners, yard crews, plumbers, and other professional service contractors know when a house is being cleaned or repaired to ready it for sale.
- Bail bondsmen know when someone jumps bail, because they’ll put a lien on the property of the party who guaranteed the bond.
- Hand held signs, also known as sign spinners, are the people who hold “We Buy Houses” signs at traffic intersections.
- Flyers are simple to create, print and pin up on bulletin boards at coffee shops, churches and grocery stores. You can also hand out flyers at meetings you attend.
- Direct mail is an avenue we’ve addressed in other articles.
- Business cards are cheap to print, so you can afford to hand them out everywhere you go.
- Magnetic signs and vehicle wraps are easy to get and require no additional work once they’re applied.
- Billboards are an option. We’ve never found them to be cost effective, but perhaps they would work for you.
- Bandit and yard signs are illegal in some areas, but if you can use them, I know many who get great results with them.
Research, build and communicate with the people on these lists to find motivated sellers.
- Tax deeds in Virginia and tax liens in Maryland and Washington, DC
- Bank foreclosures
- Government foreclosures
- Pre-foreclosure lists
- Expired MLS listings
- Eviction courts
- Absentee owners lists
- For Rent signs may lead you to tired landlords who are ready to sell their rental properties.
- Estate or garage sales are often precursors to home sales.
- Homeowner associations may be able to let you know about members who are significantly behind on HOA dues, which may indicate they’d be motivated to sell.
There are deals all around you; you just need to be open and aware of where to look. Sure, it takes some effort, but the return on your investment could be well worth your resources. As we’ve talked about before, when you want to find wholesale leads it comes down to persistence and implementation.
Do you have a deal in hand right now? Submit your wholesale deal via the form HERE.