When you are looking for properties to buy and owners that are ready to sell, there is nothing like using all your contacts and making new contacts to help you find houses that are ready to buy and owners that are ready to sell. In this strategy you ask others to be a detective with you.
The Mail Carrier and the Dog Walker
Enlist the help of others who can refer you to people thinking about selling their place and moving on, including landscapers, general contractors, cleaning/maid services, dog walking services, pool cleaning guys, mail carriers, etc. There is a whole raft of professionals, like these, who regularly service homeowners. Get to know them, cultivate relationships, keep in touch with them; it can pay off big time for you and the seller.
You can also draft a letter on professional letterhead and it into the hands of a real estate office in your area. Explain you are a real estate investor looking for distressed properties and can close quickly if the price is right.
You might ask, “What is a distressed property.” Well it is a distressed owner that makes a distressed property. An owner who really needs to sell for whatever reason becomes distressed when they cannot get the deal completed. We’ve listed some of these distressed owners in our previous blogs. They include people who can’t afford to make their mortgage payments and are under threat of foreclosure, people with tax debts that have required them to sell the property, and estate executors and estate lawyers for deceased property owners. They are all people, some facing divorce, some facing the loss of their job, some being transferred. They need to sell and often need to sell quickly below market value. You are willing to buy and that is a help to them. You are getting a great deal and they are unloading a headache. It is a potential win-win situation.
The Real Estate Army
By contacting the real estate agency, you can have an entire army of real estate agents working for you, free of charge. If one of them finds a property for you, the seller of the home will pay the agent’s commission. You owe them nothing; it comes off the seller’s side. Promise to use them as an agent when it comes time to sell the home you just fixed up.
Remember this business is a numbers game. The more you detect, the more you find. The more you market the better your chances for success. There are plenty of opportunities in your metro area to find sweet deals that will make the owner happy, you a bit wealthier and the neighborhood happier for renewing a distressed house. It is a win, win, win business.
As soon as you find a deal, give me a call for a loan fix-n-flip rehabilitation loan. You can e-mail too.
Pat St. Cin