Posted by Geoffrey Faivre-Malloy on December 06, 2000 at 01:40:51:
Yeah, the biggest problem I’ve had with the junkers I’ve found is that these are houses that are on property that may end up commercial. Case in point. I found a nice junker today but when I called the real estate agent found out it was recently sold for $800,000 and was relisted for $1.2 million!!! I’d sure love to make that spread! 
Any idea what I can do if I don’t have the capital right now for advertising?
G-Man
Not Simply a Rehash on Motivated Sellers… - Posted by Geoffrey Faivre-Malloy
Posted by Geoffrey Faivre-Malloy on December 05, 2000 at 20:00:40:
OK. I’ve got some questions about Motivated Sellers. Before you stop reading, I have read the archives. I’ve got some more questions that I wasn’t able to find in there. So, here’s to hoping you guys and gals can answer my questions…
First though, my situation. I’m a new real estate investor who hasn’t found his first deal. The niche I have chosen first is wholesaling. I chose this niche because I could make some money with very little expenses (money is tight at the moment). Once I have more money, I’m going to reinvest and start doing some advertising and signs and what not.
I’m in the Atlanta GA area and have spent a bit of time looking around in Cherokee county for junkers. I’ve even managed to find a few but had no success with the sellers.
So, on to my problem.
Obviously, to get these junkers, I need motivated sellers. I’ve attempted to get real estate agents to give me some listings of “fixer uppers” but I have yet to have any of the half dozen or so agents fax me any listings.
Now, as I understand it, real estate agents can be a good source for junkers if you find the right ones. HOW DO I FIND THE RIGHT REAL ESTATE AGENT? I feel like I’m playing the lottery here!
Second problem. I’ve spent about 15 hours so far driving around looking for junkers. Now, if I’ve spent that much time I would think I would have found more than half a dozen junkers! Obviously I’m looking in the wrong area but I haven’t been able to find the “right” area yet. Any suggestions?
I’m not going to give up as I know it’s working for tons of people out there. Just gotta find those sellers!
So, basically, I’m looking for “Tips on how to find motivated sellers on a budget (no money down ;)”.
Any help is greatly appreciated!
G-Man
Re: Not Simply a Rehash on Motivated Sellers… - Posted by Steve-Atl
Posted by Steve-Atl on December 05, 2000 at 20:39:39:
I started the same way…looking for junkers to wholesale. I targeted Cobb county and looked at a lot of houses and made a lot of offers. In general I found it difficult to do wholesale deals in a hot RE market in a growing area (like Cherokee Co).
Instead, I found it easier to do pretty house deals. Simple advertising will get sellers calling you. Best of all, you do not need to rely on a realtor. Most callers will not be motivated but the one or two that are make it worth the wait.
The key to doing these deals is understanding how to tune into the seller’s needs and structure offers that are sensitive those needs. This takes much more knowledge and skill than making a lowball offer on a junker, but I found it easier in the hot suburban Atlanta market.
Good Luck!