Check out today’s Strategy and discover how to easily implement the simple system I use to streamline finding, logging and processing vacant houses: Finding Motivated Home Sellers
Otherwise known as “Driving for Dollars”, this process if done properly will make you a ton of money!
Here’s how it works:
Start by identifying neighborhoods that have a higher concentration of Cash Sales.
You can easily do this by conducting an MLS search, if you don’t have MLS access…ask your Realtor friend. If you don’t have any Realtor friends, make one…QUICK. And if you’re not good at making friends, then fake it…
Next, set up a schedule for yourself to drive those neighborhoods…and commit to it.
What you’re looking for are houses that appear vacant, abandoned, or neglected.
Once you find these gems, I suggest that you first place a few Sticky Notes where they can easily be found.
Next, log the property address…(the video below is a tutorial showing you a cool little system I use to make this super simple)
Once you’ve got a handful of properties, at least 20-30…find out who owns them.
You can do this by researching the county records. And most county’s records now are available online.
There you should be able to find the Owner’s name and mailing address.
I also try to find good phone numbers for these leads, but currently only have a success rate of about 20%.
That success rate is increased if we spend extra time contacting relatives and neighbors, but use your time wisely…this can become very tedious and frustrating if you’re doing it yourself.
Send a direct mail piece to the owner, post cards and yellow letters work great.
Not going into details on the mailing process on this post, but here’s a tip: Google it.
From there you’ll wait for your phone to ring, you’ll qualify the leads for motivation, put deals together and make Big Money.