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Hi Michelle
You’re not looking for houses, you are looking for motivated sellers.
A motivated seller is someone who absolutely needs to sell ASAP and is willing to take a lower price or accept monthly payments instead of cash for their house or a seller who will let you buy their house subject-to the existing mortgage. Owners with a vacant house are usually the most motivated sellers of all. Owners with houses in poor condition are usually more motivated,.
Here’s a post to give you ideas of where to find motivated sellers
Other things that cause an owner to become a motivated seller fast:
Lost job
divorce
death in family
new job in different location – needs to move fast
health problems (moving to assisted living or nursing home)
age- cannot do stairs any more
financial problemsWhat else can you think of?
Unless the seller is motivated by something that happened in their life recently, you usually will not be able to get a discount in the price or the seller will not accept terms.
If you can get get an option to buy below market, you can use a Highest Bidder Sale to sell FAST for more money – you make the spread between the contract with the seller and the contract with the buyer. Unless it’s a wholesale opportunity, most buyers will need to get bank financing which takes more time.
That’s why I prefer, buying with seller financing so I can sell with seller financing. This closes faster and you get paid faster plus multiple paydays. When you do a HIghest Bidder Sale for the highest down payment, you usually get about 20% down plus cashflow from the monthly payments and sometimes a payday later if the buyer refinances.
I did a search for all the CashFlowDepot articles about finding motivated sellers.. Here you go:
You can find all the articles by looking at the drop down menu under Education, then click on BLOG.
In the Premium Member section, check out the Marketing training — it has a LOT of advise about the
best ways to find deals and motivated sellersCLICK HERE for the articles about getting more leads and finding motivated sellers.
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