How to find motivated sellers for subject to deals?


#1

Hello;

I am wondering, how should I go about finding motivated sellers to whom I might propose a subject to? I have somewhat of an idea, but I’m really very new to this and don’t know what my marketing should say, how to target sellers who might be interested in subject to, etc.

Thanks in advance for any and all advice offered!


#2

Here are some ideas I have used successfully as I team up with people around the country:

  1. have to sell quickly or
  2. don’t have enough equity to cover real estate fees, closing costs and other fees or
  3. don’t want to or can’t afford to do repairs and or don’t want to have people traipsing around their house or
  4. have bought another place and are carrying two mortgages or
  5. lost a job or have a medical emergency, etc or
  6. are in pre-foreclosure and have to do something quickly or
  7. are inherited with a mortgage and can’t make the payment or
  8. have a job transfer and need to sell quickly

#3

Not so sure that subject to is a viable strategy. Too many things can go wrong when you have the seller hanging around.

As a much younger investor, I’d show up in eviction court every Friday morning and whenever an eviction got tossed (usually some little technicality), I’d introduce myself to the landlord and offer to lease-option if from him on the spot.

Many were more than happy to take me up on it and be done with it rather than having to restart their eviction. Pretty hot market down there.

JoeK


#4

Mr Kaiser,

As you now having the lease option, the law would allow you to kick out the tenant?


#5

There are a million reasons why someone could be motivated to sell. Maybe they got divorced or are empty nesters and need to downsize, maybe they had a kid and need to upsize. Maybe they’ve had an NOD filed against them, or maybe they inherited a property. Maybe they’re sick of cold Northeastern winters and just want OUT. What type of marketing you do really depends on your budget, and your ability to field and process leads.


#6

Subject 2 deals can come at any time from any seller as long as they have a mortgage in place. Just ask if they are willing to go that route. If they say yes then you’ve got yourself a deal.


#7

Your main objective should be to solve the sellers problem. They are motivated sellers for a reason. Find out what their problem is and explain to them how you can solve their problems.

If you are new to this and don’t know many marketing techniques I would suggest driving for dollars. Just drive through neighborhoods that people want to live and look for distressed properties that are in need of repair and look like the seller has maybe moved out. Look for signs that someone might want to get rid of the property such as newspapers piling up, the lawn isn’t being cared to, ect.

Chaz Heasley
Keyzinn


#8

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#9

There are probably more reasons than you could think of. I would try to narrow your focus and strategically market to one or a few of those reasons to sell.