Finding Motivated Sellers - A Essential To Purpose Setting For True Property Investors

If you should be 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 need motivated sellers, to attain most if not your entire other goals, then doesn't it make sense to focus on the motivated seller part of your goals, at the least in the beginning?

Anyone looking at my portfolio of audio CDs and courses will quickly find a sample; over 1 / 2 of the titles are about finding motivated sellers. Exactly why is that? Let's think about it.

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

The cheaper you can purchase the home, the more cash flow you are able to generate from the home and the quicker and more safely you are able to achieve your goal of generating $10,000 in rental income. Try buying houses for full price and generating rental income from them quickly. In all but a few markets, it is very hard to accomplish (if not impossible).

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

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

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

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

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

Motivated sellers ought to be the key to your real estate goal setting. So, do you believe me? Great, so listed here are 3 tips about 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 will need to realize that you need to sift and sort through a lot of sellers to find truly motivated ones. The opportunity of you locating a motivated seller after conversing with half a dozen sellers is pretty low. Despite super marketing materials and a wide selection of what I could work with, we typically have to go through about 10 sellers to find 1 that is motivated enough that people will make the deal work.

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

"My goal is 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 time period and track the outcome daily.

"My goal is to keep in touch with 50 motivated sellers each month." Getting better. Daily you will need to see if you're on course to achieving your goal of conversing with 50 motivated sellers that month. If not, you will need to ramp up your marketing to obtain additional motivated sellers calling.

On our Real Estate Investor Database (the ULTIMATE contact and business management tool for Real Estate Investors), we have only a little graph at the top of almost every page that demonstrates to you the "goal line" for the number of motivated sellers you will need to achieve your goal and where you are. If you should be not meeting, the target it appears red. If you have met your goal for the afternoon, it is green.

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

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

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

If you have 10, 20 or 30 sellers calling in each week, it is a lot easier to say no to a house that you are not 100% sure of... maybe the worth of the property is questionable. Maybe you may not like the looks of the condition of the roof. Perhaps you don't trust what the vendor is telling you. When you yourself have lots of other sellers to keep in touch with, it is easier to say, "I'm likely to pass" and move on.

By the way, you'd be surprised at simply how much better the deal gets whenever you really do walk away and they return to you weekly, month or many months later.

So, as you begin setting your goals, keep in mind that while other goals are very important, probably the most critical and key goal for real estate investors is the target you set for motivated sellers.

You will get a free 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.