Finding Motivated Sellers - A Critical To Goal Placing For True House Investors

If you should be a real estate investor or considering becoming one, you know (or soon will know) that real estate investing is all about finding truly great deals and that starts with motivated sellers.

So, why does it surprise people when I speak on goal setting that I spend plenty of time on goal setting regarding motivated sellers. If you need motivated sellers, to accomplish most or even all of your other goals, then doesn't it make sense to focus on the motivated seller part of one's goals, at the very least at the start?

Anyone considering my portfolio of audio CDs and courses will quickly find a pattern; over half of the titles are about finding motivated sellers. Why is that? Let's consider it.

Let's say you've an objective to make $10,000 each month from owning rental property. To locate rental property that will give you excellent cash flow, you'll need to buy the houses which have strong rents and try to buy them as inexpensively as possible. How will you buy houses inexpensively? You need to find sellers who've reasons to trade you equity they have in their property for a solution with their problem.

The cheaper you can buy the house, the more cash flow you are able to generate from the house and the quicker and more safely you are able to achieve your goal of generating $10,000 in rental income. Try buying houses for top dollar and generating rental income from them quickly. In most but several markets, it's extremely tough to accomplish (if not impossible).

But wait! You say your goal would be to generate income from wholesaling property... you may not need certainly to generate cash flow as a rental. Well, motivated sellers are a lot more very important to you.

Perhaps you have tried to put a residence under contract with a un-motivated (read that as inflexible) seller? It may be tough. If you want to put a residence under contract so that you can wholesale it to another investor for a 4 or 5 figure payday, you NEED to accomplish a few things:

1. Make the deal very appealing to the investor you're wholesaling it to (low price, great terms or both)

2. Gain control of your home so that you can "show it around" without danger of losing it

I'm suggesting that you might want motivated sellers--sellers with a need certainly to sell--to be able to buy houses at a discount or who will permit you to put the house under contract with a 30 or 60 day closing period so that you have time to find your buyer.

Motivated sellers should be the key to your real estate goal setting. So, do you think me? Great, so listed below are 3 advice on motivated seller goal setting.

Tip #1: Motivated Seller Quality Comes From Quantity

While you may have goals about converting x number of potential sellers to actual sellers, you'll need to realize that you might want to sift and sort through a lot of sellers to find truly motivated ones. The chance of you locating a motivated seller after talking to half a dozen sellers is pretty low. Despite having super marketing materials and a wide range of what I will work with, we typically need certainly to proceed through about 10 sellers to find 1 that's motivated enough that we could make the deal work.

Tip #2: Write Down A Specific Number And Track It Daily

"My goal would be to keep in touch with plenty of motivated sellers." Utter nonsense. You must have a certain number to keep in touch with in a certain period of time and track the results daily.

"My goal would be to keep in touch with 50 motivated sellers each month." Getting better. Daily you'll need to see if you are on course to achieving your goal of talking to 50 motivated sellers that month. Or even, you'll need to ramp up your marketing to get more motivated sellers calling.

On our Real Estate Investor Database (the ULTIMATE contact and business management tool for Real Estate Investors), we have a little graph towards the top of virtually every page that teaches you the "goal line" for how many motivated sellers you'll need to achieve your goal and where you are. If you should be not meeting, the goal it shows up red. When you have met your goal for the afternoon, it's green.

Tip #3: It Is Far Better To Sift and Sort

If you've have tried to make a marginal deal work and found out the hard way that it may cost you large amounts of time, money and energy you might start getting more selective in your deals. Here's some good advice that I received from a number of my mentors:

"Don't try to make a marginal deal work, go locate a better deal."

When you have 10, 20 or 30 sellers calling in each week, it is easier to state no to home that you're not 100% sure of... maybe the worth of the property is questionable. Maybe you may not like the looks of the situation of the roof. Maybe you don't trust what the vendor is telling you. When you have dozens of other sellers to keep in touch with, it's much simpler to state, "I'm planning to pass" and move on.

By the way, you'd be surprised at how much better the deal gets when you do disappear and they get back to you weekly, month or many months later.

So, as you begin to create your goals, remember that while other goals are important, the absolute most critical and key goal for real estate investors is the goal you set for motivated sellers.

You may get a free of charge real estate course and fully analyzed real estate deals or visit https://www.scamrisk.com/find-motivated-sellers/ the for more great articles and information.

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