Pull the Top 3 Motivated Seller Lists for FREE! | You NEED To Know THIS! 🏠
Summary
This video outlines three free and highly effective lists for wholesalers to find motivated sellers: probates, code violations, and evictions. The presenter emphasizes that while these methods are less glamorous than paid services, their proven long-term success and unique characteristics make them ideal for motivated buyers. Each list addresses specific seller situations, offering wholesalers opportunities to solve significant problems and generate higher profits compared to standard deals. The key is persistence in acquiring and working these public records.
Key Insights
Wholesalers create win-win situations by solving sellers' problems.
The core of wholesaling is to identify a significant problem the seller is facing with their property and offer a solution that benefits both parties. The larger the problem solved, the greater the potential profit for the wholesaler.
Probate deals are highly profitable due to vacancy and deferred maintenance.
Probate deals are ideal for wholesalers because the properties are usually vacant, outdated, and overwhelming for the PR to manage. This creates a strong motivation to sell quickly for cash, allowing wholesalers to find buyers willing to pay a premium.
Probates offer high profitability due to vacancy and ease of sale to cash buyers.
Probate deals are frequently three to four times more profitable than average wholesale deals. This is attributed to the properties being vacant, outdated, and the availability of ample time to sell to a cash buyer at the highest possible price.
Code violations indicate underlying problems, signaling motivated sellers.
Similar to other distressed situations, code violations serve as a symptom of deeper issues. They signal that the owner may be unable to manage the property, creating an opportunity for a wholesaler.
Top wholesalers focus on solving problems, not just finding deals.
Effective wholesalers identify motivated sellers by looking for symptoms of distress (like code violations or probate situations) and offer solutions, turning property problems into profitable wholesale opportunities.
Sections
Introduction to Free Motivated Seller Lists
Prioritize free, tried-and-true methods over expensive paid services for motivated sellers.
The presenter argues that many coaches and gurus promote high-cost list services, overlooking simpler, older methods that have worked for decades. These free methods are often overlooked because they are less profitable for gurus to sell as packages and are perceived as boring.
Motivated sellers are often burdened by property condition or legal situations.
The underlying principle for finding motivated sellers is identifying individuals facing circumstances that make selling a property through standard channels difficult or undesirable. These situations often involve emotional distress, financial pressure, or complex legal entanglements.
Wholesalers create win-win situations by solving sellers' problems.
The core of wholesaling is to identify a significant problem the seller is facing with their property and offer a solution that benefits both parties. The larger the problem solved, the greater the potential profit for the wholesaler.
List 1: Probates
Probates are from deceased individuals whose assets are handled by the court.
A probate is the legal process of administering a deceased person's estate, involving transferring assets as per their will. A personal representative (PR) or executor is appointed to manage this process.
PRs often feel burdened by selling inherited property while grieving.
Family members appointed as PRs are frequently overwhelmed by the responsibility of selling a loved one's house during a period of grief. They may not want to deal with repairs, listing the property, or extensive renovations, especially if the house is outdated.
Probate properties are often vacant, outdated, and require significant repair.
These inherited houses are commonly vacant because families don't wish to live in them due to memories. They often require substantial updates to the roof, AC, and cosmetic features, reflecting decades-old decor.
Probate deals are highly profitable due to vacancy and deferred maintenance.
Probate deals are ideal for wholesalers because the properties are usually vacant, outdated, and overwhelming for the PR to manage. This creates a strong motivation to sell quickly for cash, allowing wholesalers to find buyers willing to pay a premium.
Access probate leads by visiting or searching the County Courthouse probate department.
To generate probate leads, one must go to the county courthouse's probate department to obtain recent filings. Key information to extract includes the property address and the deceased's name, followed by locating and skip-tracing the PR.
Probates offer high profitability due to vacancy and ease of sale to cash buyers.
Probate deals are frequently three to four times more profitable than average wholesale deals. This is attributed to the properties being vacant, outdated, and the availability of ample time to sell to a cash buyer at the highest possible price.
Requires persistence and understanding local probate laws and processes.
Getting access to probate lists requires persistence, as each county's process differs. It's crucial to understand state statutes and potentially collaborate with title companies or probate lawyers.
List 2: Code Violations
Code violations occur when property owners fail to meet city/county standards.
A code violation is issued when a property owner does not comply with local ordinances, such as maintaining grass height or property appearance.
Violations often stem from circumstances, not intentional neglect.
People typically don't choose to let their properties fall into disrepair; it's usually due to life circumstances, such as living out of town, inheriting a property (like through probate), or facing financial hardship.
Unresolved code violations lead to accumulating fines and increased motivation to sell.
If violations aren't corrected within a set timeframe (e.g., 30 days), daily fines accrue. This financial pressure, combined with the underlying issue, makes these owners highly motivated to sell.
Code violations indicate underlying problems, signaling motivated sellers.
Similar to other distressed situations, code violations serve as a symptom of deeper issues. They signal that the owner may be unable to manage the property, creating an opportunity for a wholesaler.
Obtain code violation lists from city/county building departments.
To get code violation lists, one must visit the city or county building department where permits are issued. Persistence is required to overcome privacy policies and obtain the public records.
List 3: Evictions
Eviction lists are public records of legal actions by landlords against tenants.
Eviction records are public lawsuits filed by landlords to remove tenants for non-payment of rent or property damage.
Target landlords with fewer than four properties, especially those in personal names.
The ideal landlords to contact are those who own fewer than four properties and hold them in their personal names. These individuals are often new to being landlords, are in over their heads, and are more likely to want out quickly.
Professional landlords with multiple properties are less likely to yield wholesale deals.
Landlords owning four or more properties, often in LLCs, are typically experienced and may not be as receptive to wholesale offers, as evictions are part of their regular business operations.
Fresh eviction filings provide the best opportunity to connect with landlords.
Acting quickly on the freshest eviction filings is crucial. Many court dockets list the landlord's phone number, allowing for direct contact via calls, texts, or direct mail.
Conclusion and Strategy
Persistence is key to accessing and utilizing these free lists effectively.
Gaining access to these lists often involves overcoming resistance. Consistent effort and persistence are necessary to obtain the data and make contact with potential sellers.
These lists are effective in both local and virtual wholesaling markets.
The strategies for working probates, code violations, and evictions are applicable whether a wholesaler is operating in their local market or remotely in virtual markets.
Top wholesalers focus on solving problems, not just finding deals.
Effective wholesalers identify motivated sellers by looking for symptoms of distress (like code violations or probate situations) and offer solutions, turning property problems into profitable wholesale opportunities.
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