Did I say Free? Yes, you heard me right. There are ways to generate motivated seller leads for free. When you get started (or have already been doing this business for some time) you need one of two things to generate leads. You either need time or money. Spending your money is the easiest way, and by far the least time consuming. BUT if you don’t have any money,which is the case for alot of noobs, then you’ve got to invest your time.
Here are some tips that will teach you how to generate some motivated seller leads for free. (yes, I said free):
- Driving for Dollars: Do you ever get in your car and drive to the store? Of course you do!! That was an utterly stupid questions. Well, make wise use of your time and collect phone numbers for FSBO’s (For Sale by Owners). Any time you see a yard sign (especially the ugly handwritten ones that are all sun faded) – write down the number. Make 20 calls per day every day until you have a smoking hot lead. After all – real estate IS a numbers game.
- Craigslist – Ahhh, we’re all too familiar with this on (or are we)? There are hundreds upon hundreds of “motivated” sellers that have listed their house for sale on Craigslist. Yes, you will have to weed through all of the investors, wanna be’s, scam artists, and Cambodian millionaires who need for you to enter your checking account routing information before you get the property address, but there are some hidden treasures on Craigslist. Jsut recently, I discovered a seller who was behind on her mortgage payments there. She had moved to a third world country and no longer wanted the house. It ended up being a short sale flip, and we did very well handling the transaction via email. To make a long story short, she was there, and I was there, too. So it just worked. It will work for you too.
- Door Knocking: Did I just say that? Holy moly. I did. This is when you see a property that looks “distressed”, and you get out and knock on the front door. You talk to the seller and tell them that you’re interested in buying their house. You get the door slammed in your face. Maybe even cussed out. But you keep doing this 20 – 25 times until you have a seller who raises their eyebrow when you make talk of all cash delivered in Winn-Dixie bags. Yes, you ‘ll get egg on your face. Who cares? After all – real estate IS a numbers game.
- Other Wholesalers: Set aside the fact that their your direct competition and join forces with them. If you don’t have a property for sale, then certainly one of them do. Partner up, sign an option agreement, and get to work marketing that property so you can make a check. How much of a check should you expect? Well, that depends on how good you are with your fellow wholesalers. Just be glad that their willing to share their inventory. And work your ass off to get it sold so you can get that check in your fat little hands. Then you’ll have some of your own money to market for your own leads.
These are just a few ways that you can implement immediately to start generating motivated sellers leads. Do all of them sound fun? Hell no. Do all of them sound like alot of work? Hell yes.
Will being pig headed, determined and disciplined get you what you want? Absolutely. Quit making excuses like “I don’t have any money to spend on marketing”, and start knocking on some strangers doors.
Just be careful – you ever know who’s on the other side…………(creeeeepy).
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