Finding Motivated Sellers - A Crucial To Purpose Placing For Real Estate Investors

If you are a real estate investor or considering becoming one, you understand (or soon will know) that real estate investing is 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 want motivated sellers, to accomplish most if not your entire other goals, then doesn't it seem sensible to target on the motivated seller part of one's goals, at the very least at the beginning?

Anyone looking at my portfolio of audio CDs and courses will begin to find a structure; over half of the titles are about finding motivated sellers. Why is that? Let's consider it.

Let's say you've a target to create $10,000 per month from owning rental property. To find rental property that provides you with excellent cash flow, you'll need to buy the houses that have strong rents and try to buy them as inexpensively as possible. How do you buy houses inexpensively? You'll need to locate sellers who've a reason to trade you equity they have in their house for an answer to their problem.

The cheaper you can get 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 a high price and generating rental income from their store quickly. In all but several markets, it's very hard to accomplish (if not impossible).

But wait! You say your goal would be to generate income from wholesaling property... you do not have to generate cash flow as a rental. Well, motivated sellers are much more vital that you you.

Perhaps you have tried to put a residence under contract with a un-motivated (read that as inflexible) seller? It may be tough. In the event that you are attempting to put a residence under contract so that you can wholesale it to a different investor for a 4 or 5 figure payday, you NEED to perform two things:

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

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

I'm suggesting that you'll require motivated sellers--sellers with a have to sell--to be able to buy houses at a discount or who'll enable you to put the house under contract with a 30 or 60 day closing period so that you have time to locate your buyer.

Motivated sellers must be the key to your real estate goal setting. So, do you believe me? Great, so here are 3 advice on motivated seller goal setting.

Tip #1: Motivated Seller Quality Comes From Quantity

While you may have goals about converting x quantity of potential sellers to actual sellers, you'll need to realize that you'll require to sift and sort through lots of sellers to locate truly motivated ones. The possibility of you locating a motivated seller after talking to half dozen sellers is pretty low. Even with super marketing materials and a wide selection of what I can assist, we typically have to go through about 10 sellers to locate 1 that is motivated enough that individuals can make the offer work.

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

"My goal would be to speak to plenty of motivated sellers." Utter nonsense. You have to have a specific number to speak to in a specific period of time and track the outcomes daily.

"My goal would be to speak to 50 motivated sellers each month." Getting better. Every day you'll need to see if you're 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 obtain more motivated sellers calling.

On our Real Estate Investor Database (the ULTIMATE contact and business management tool for Real Estate Investors), we've a little graph at the top of nearly every page that teaches you the "goal line" for the number of motivated sellers you'll need to achieve your goal and where you are. If you are not meeting, the goal it appears red. When you have met your goal for your day, it's green.

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

If you've have tried to produce a marginal deal work and learned the hard way that it could cost you large amounts of time, money and energy you may 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 produce a marginal deal work, go look for a better deal."

When you have 10, 20 or 30 sellers calling in weekly, it is a lot easier to state no to a property that you will be not 100% sure of... maybe the worth of the property is questionable. Maybe you do not just like the looks of the condition of the roof. Maybe you don't trust what owner is telling you. If you have lots of other sellers to speak to, it's much simpler to state, "I'm going to pass" and move on.

By the way, you'd be surprised at how much better the offer gets once you really do leave and they return to you per week, month or almost a year later.

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

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