Finding Motivated Sellers
I finally located the person that is able to give me names and addresses of absentee owner listings or any tax information....ahhh!! I have the choice of getting a list of homeowners that are beind in taxes or of owners that live somewhere other than the property (absentee owners).
Does anyone have an opinions or experiences about which might generate more responses?
Sounds pretty good?
I would like to get the same info. from you if I could.
Thanks!
John
Check with title companies and/or real estate attorneys in your area, and find out if anyone publishes a list of the Notices Of Default or Lis Pendens that are filed in your county. If this information is put together and disseminated in a timely fashion, it can be a great source of potential motivated sellers.
Good Luck,
Jeff
My take on things is as follows, and as long as you attach a value to it that is somewhere between priceless, and what you paid for it, I won't be offended.
I don't offer options, and although that might be considered short-sighted, this is why. I either know that the deal is worthwhile, or I'm not interested. If it's a good deal, and fits within my investment criteria, I will want to follow through and do the deal myself. If it's a good deal, and does not fall within my investment criteria, I feel confident that I can pass the deal off to another investor, and assign my position in the deal to my buyer.
If I'm willing to commit to a purchase agreement, It becomes necessary for me to commit to the deal. That just isn't the case with an option. An option, and this is my only opinion, is just another way to avoid telling a down-and-out seller that you're not really very interested in their property, but if you happen to run into someone that might be interested, you want to make a buck on it.
Good luck,
Jeff
Jeff,
Thanks for your response.
What if the deal is too far away/beyond your financial means/etc but it's a good deal? How can you go and advertise it to your fellow REI'rs (quickly and blindly like e-mail or a flyer). In other words, wholesale. I seriously doubt all wholesalers plan on purchasing every property they put a contract on if no one else does.
JohnCl
How do they do it? Weasle clauses?