How to Find Motivated Sellers On The Cheap…

Happy Friday, everybody! I’m back with a new Q&A video for ya today!

In this installment, I share with you a very effective (and cheap!) strategy for finding motivated sellers, building your buyers list, and getting an education about your local market…all at once.  It’s a simple yet effective strategy that pretty much anyone can use, and as you’ll see in the video- it can produce results very quickly!

Enjoy and have a great weekend!

-Steph :)

  1. On November 04, 2016 at 8:09am, Heather Gilchrist said...

    This is such a timely video for me Steph! Funds are tight for me right now and I’ve been trying to come up with any ways I can to look for deals. I’m off from work this weekend and will definitely give this a try.

    Just curious if you do any other type of research on the sellers before you send out your letters or do you just mail to everyone?

    Thank you Steph!

    • On November 04, 2016 at 8:28am, Stephani said...

      Hi Heather,

      Yes, I usually do some research before I send out the letters. A lot of times there will be homes on the list that are banked owned (I can check the property appraiser site in my county to see who owns the property) in which case I don’t send a letter.

      Let me know how your mission goes this weekend! :)

  2. On November 04, 2016 at 10:28am, Micah said...

    Go Maria!

    • On November 05, 2016 at 9:35am, Stephani said...

      I second that! :)

  3. On November 04, 2016 at 10:31am, Jim Dickerson said...

    Thanks Steph. I’ve been following you now for a couple of years and am going utilize your video because I am School bus driver and almost do my driving for dollars with it.

    • On November 05, 2016 at 9:37am, Stephani said...

      Ha- that’s perfect…let me know how it works out for you!
      Hope you have a great weekend! :)

  4. On November 04, 2016 at 10:52am, Lana said...

    Hi Steph! Thanks for the awesome info in this video. I’ve been a big fan of your blog for quite awhile and have a question about this stuff. Do you recommended calling the homeowners (potential sellers) directly or using direct mail instead? Any tips? Wondering if making calls is effective or a frustrating waste of time? Would love to hear your words of wisdom about this. Thanks so much for your excellent blog posts! Happy Friday! ☺ Lana

    • On November 05, 2016 at 9:41am, Stephani said...

      Hi Lana- glad to hear you found the video helpful!

      I always prefer calling to direct mail whether I’m dealing with buyers or sellers. Mail can always get tossed in the trash so you never know for sure if they got your message. Plus, calling is free and I’m a big fan of free. :) It’s not always possible or feasible to call everyone, though, so I will send a letter in that case.

      I hope that helps!

      Have a great weekend,
      Steph :)

  5. On November 05, 2016 at 4:25pm, Kevin said...

    Hi Steph,

    I enjoyed your video. I have done driving for dollars. I also would prefer to call, however, phone numbers are all too hard to find. I may be overlooking something, what do you find is the best way to get the owners ph number? Also locating the owner if that owner has recently moved out, their new address is not listed either through county records. What do you reccommend in locating the owners?

    • On November 06, 2016 at 8:23am, Stephani said...

      Hi Kevin,

      I usually do some searching online (Google, Facebook, public records) to see if I can dig up a number and then if not I send them a letter. With their mailing address- if I can’t find it in our public records (which a lot of times I can) then I spend some time doing detective work online to see if I can find them. I’ve gotten pretty good at it over the years. You can also try the neighbors if all else fails and see if they have any info on their whereabouts, or just send the letter and hope it gets forwarded.

      Hope that helps!

      Steph :)

  6. On November 05, 2016 at 4:40pm, monisha said...

    Hi, question I see you said someone put under contract for 82,000 but turned around an sold the contract for 12,000 was that deducted out out the 82,000 or it was completely seperate.

    • On November 06, 2016 at 8:27am, Stephani said...

      Hi Monisha,

      The end buyer’s price was 94k…82k of that goes towards the purchase of the home and then the 12k is the assignment fee that Maria got at closing. Make sense?

  7. On November 05, 2016 at 10:15pm, Sharon said...

    Hi Steph,

    Wonderful tip! But how do you go about finding the sellers?
    I have done lots of driving for dollars but most of the time
    I’ve not been able to find the sellers. For most of the
    abandoned property leads, County records normally
    show the owners listed at the same address, when in fact
    they have left. Any tips on how to find owners?

    Also, what can I do when I find the owner is a Bank?
    I’ve called the bank but they never have an answer.

    Thanks for your wonderful videos.

    • On November 06, 2016 at 8:31am, Stephani said...

      Hi Sharon- see my above answer to Kevin about finding sellers. If I do enough digging (usually online), I can usually track them down either with a mailing address, a phone number, email address or a message on Facebook. I can’t always find them, but most of the time I can.

      I forgot to mention in the video that a lot of times the homes are bank owned in which case I don’t do anything. I used to go after bank owned properties once they hit the MLS, but it’s gotten so competitive here that it’s not worth the effort for me. I’ve heard people say they’ve tried to contact banks before they list them on the MLS with an agent but I’ve never heard of anyone having success with that strategy. I can’t stand dealing with banks, so I don’t bother. :)

      Glad you’re enjoying the videos!

  8. On November 07, 2016 at 11:29am, Lee Whiticar said...

    Hi Steph.. how to best wholesale a house when the owner want give you access to show to potential
    buyers I have it under contract but he want give me access in till its purchase.. please Steph help
    me out with a couple of ways I can over come this.. thanks Lee

    • On November 09, 2016 at 3:31pm, Stephani said...

      Hi Lee,

      I always write into my contracts that I’m allowed access to the property for inspections, but since it sounds like you didn’t do that, I’d send as many pictures as you can to your potential buyers, tell them to drive by and take a look, and then if they are still interested, give the owner a call and see if you can get into the property for an inspection and bring your buyer(s) with you.

      Good luck with the deal!

      Steph

  9. On November 10, 2016 at 8:54am, Vinson said...

    Steph,

    Thank you so much on all that you do to help out fellow real estate investors. I downloaded your contracts which are very well put together. My question is… Do you have a contract for when I want to do a double close with another investor or buyer versus the assignment? This would be very helpful, thanks in advance.

    • On November 18, 2016 at 9:22am, Stephani said...

      Hi Vinson,

      When doing a double close as opposed to an assignment you would use a purchase and sale contract instead of an assignment contract. So there would be one purchase and sale contract between the seller and you (you buying from the seller) and then one purchase and sale contract between you and the end buyer (you selling to the end buyer).

      Hope that helps!

  10. On November 13, 2016 at 8:29pm, Touraine said...

    Hello Steph im a new investor looking for a great system to use for following up with sellers. Do you use a app, software, or website using your follow up process? Please so show a video showing your step by step process it would be greatly appreciated. Also I like youtube videos it’s so informative.. thanks steph.

    • On November 18, 2016 at 9:28am, Stephani said...

      Hi Touraine, I recommend FreedomSoft. I believe they offer a free trial (2 weeks, I think). If you Google “FreedomSoft” you should be able to find it.

      I’ll work on putting a video together doing a demo of it.

      Hope that helps!

      Steph