How to find 300-500 motivated sellers in ONE WEEK!!!! - Property Investment

Before we dive into the content of this article I would first like to say that what I am about to share may not be relevant to all parts of the country or even the areas you like to invest in. But, if you have this service available to you I implore you to look into what I am about to share with you cause it could just put your real estate investing career to the next level. I began utilizing this strategy a couple months back and what I have found is it fits perfect into my investment goals and daily to-do lists. While everyone is fighting over REO inventory and short sale deals, sometimes even bidding up prices over what investors should pay, you should look for a strategy or two that can bring in consistent leads every month. Here are my favorite two. The first involves the "LIS PENDINS" list. Lis pendins is a latin term that is used in the foreclosure process that means "pending lawsuit". Lis pendins is basically the end of the pre-foreclosure phase, and typically the home is auctioned off at the foreclosure sale as quickly as 2 weeks after "LIS PENDINS". This particular phase of the foreclosure process can be a great time to work a real estate deal, mostly because the homeowner is extremely motivated to talk to anyone that can show them some answers. Most counties have what I like to call a "LIS PENDINS" list, and it can be purchased from the county clerks office for a fee. In Duval county, where I conduct most of my business the list costs us $1.00 per page and there are 20-30 cases on each page. We typically purchase 10 pages, and now I have my hands on up to 300 very motivated sellers for ten bucks. However, that is only the beginning, unless your county really does you a favor and gives you the name and property address on the list you have to do some research, this may take you some time especially if you have never done it before. Once you have all the names and addresses simply send them a letter, the first letter you send out should basically say that you are interested in buying there home, and you are currently investing in the area, please call me direct at XXX-XXX-XXXX. Go with the low pressure approach at first and then you can build up from there with multiple letters if you have not heard from your prospects. This is a great strategy to get the phone ringing and talking to live sellers that are willing to sell you there homes. The second strategy also involves the city, but different department. This involves the county code enforcement office, or sometimes called the municipal code department. The catch with this tip is finding the right person to talk to. You want to get in touch with the person responsible for condemned houses. I call it the "unwanted houses list" because most of the time the homeowner is nowhere to be found, plus the home is unlivable a great deal of the time. This list can usually be acquired for free. I recommend asking the code officer to just email you the list, it will sometimes save you a trip downtown or to there office. Once you have the list simply go through it and decide what homes you want to target and the next time you are out looking at other inventory go by and check out the condemned house that is on the list. After viewing the home call the city code department and ask them to tell you what are the code violations they have on file. Once you are armed with that information now you can begin to contact the homeowner to see what there position on the home is. These two strategies are great to add to your investing tool belt because the competition will be at a minumum, which is great news for you and your company. Feel free to visit my website at www.jaxhomebuy.com and my blog-premierchoicejax.blogspot.com for more info on real estate investing.

About the Author

Scott MacDonald is President and CEO of Premier Choice Investments, LLC located in Jacksonville, FL. Premier Choice Investments purchases 5-10 homes per month in Northeast Florida and surrounding areas. Since starting the company in 2008 Scott has been investing in Real Estate full time and has experienced tremendous growth. Scott has quickly become an expert and guide for other real estate investors all over the Sunshine State.

Open House Millions - Selling

I was recently speaking with a competitor of mine, after small chitchat he asked me what I was working on at the moment. After explaining to him that I was preparing my team for our upcoming "open house" he laughed at me. His comments were as follows "Scott, you know nobody comes to those things anymore!", "Why are you wasting your time on that old technique?", and to finish it off "I haven't sold a home using an open house in years!" I wasn't completely shocked by his comments but I was a bit surprised at his anti open house stance. After replaying his comments over in my head for the next several days I did some investigating and found most of my investor friends do not hold open houses either. I began asking myself "why is that" and "do they honestly believe they can't sell at an open house?" Well, you can probably tell from the title of this article my stance is quite different. I believe if handled the proper way an open house can be a great asset to you and your business. I want to give you some tips and strategies for holding an open house the right way, more than that I am going to share with you what I call the "launch method" for an open house. The first point I would like to make involves timing. Timing is first because it is the most crucial point. Too many investors finish a rehab project and then stick it on the MLS(multiple list service) and expect a realtor to bring them a buyer. Well that certaintly is the hands off way to sell a home, but lets face it, in 2010 that is simply unacceptable if you are trying to move homes quickly. I believe in launching the property. Launching is simply the term we use because we are in a sense creating a buzz and building momentum for people to see our property. In reference to timing, I recommend not scheduling an open house around any kind of holidays. To further my point, also check and see if there are any events or special community functions taking place the weekend of your open house. You do not want to compete with entertainment, but you want your prospective customers to see value in coming to your open house. Once you pick the appropriate date, it is now time to begin your property launch. A simple sign in the yard will not do. Here are a couple tips you can use to get people through the door. About 2 weeks before your open house send the neighbors a letter, I would start around 100-150 of the closest ones. The letter should be short but should state something like this, "We are proud to announce the dates for our upcoming open house, we apologize for the dust and noise the last couple of weeks, but here is some of the features you can expect to see in you attend our open house." Neighbors are nosey, and you want to take advantage of this. This makes the surrounding neighbors not close to your home aware of what has been taking place and more importantly what they can expect in the future. The next letter or flyer you will send out will be approximately 2-3 days before the open house. This letter will be your call to action letter. You have already introduced your company and what you are doing, now it is time to involve them. The letter should reinforce the dates of the open house, plus give them the features and benefits of the home again, but more importantly you are going to give them a "bring me a buyer bargain." In my letters I state I will personally hand them $500-$1,000 cash if they bring me a buyer and I close with that person. This really gets there attention because now you have generated a buzz surrounding your home. What I have found is neighbors begin getting creative, they start thinking about the grandkids moving closer or the parents that may be up north and have talked about moving or possibly friends that want to live closer to each other. There are so many scenarios and I have heard them all, the most important point is these people have now become your sales people. Secondy, now you can involve the professionals, the realtors and mortgage brokers. I give them extra incentive too when they bring me a buyer. I use email for this. It is wise to call some the local real estate offices and ask for the top sales and listing professionals in that office, once you speak to them get there email and tell them what you are all about. Send the email on the wednesday or thursday before the open house. After talking to there clients they might put your home on the list to see that upcoming weekend. Once again timing is everything. Here is a few things that you should have at your open house: table with chairs, light refreshments (water, cookies, veggie tray), flyers of the home with an incentive some where on the flyer, a recent real estate article (make sure it is relevant, for example a one page article on interest rates and how they are the lowest in history), sign it sheet, mints or candy, and last but most important a contract. My last point that I want to cover involves sales. It is crucial that you spend some time with your team and update them on the procedures for the open house. My recommendations are this: update them on the school system, the recent home sales in the area, nearby shops and restuarants, history on the home, rebates, incentives, and warranties of the products in the home. These are all questions you and your staff will be asked at the open house, if you want to be ahead of the curve know all this information, this will give your buyers confidence in there soon to be purchase. Also teach your staff about the sales process, require them to read material on the subject and educate them throughout there time with you. This will make you an expert in your area and more importantly help you move more inventory.

About the Author

Scott MacDonald is President and CEO of Premier Choice Investments, LLC located in Jacksonville, FL. Premier Choice Investments purchases 5-10 homes per month in Northeast Florida and surrounding areas. Since starting the company in 2008 Scott has been investing in Real Estate full time and has experienced tremendous growth. Scott has quickly become an expert and guide for other real estate investors all over the Sunshine State.