How To Find Motivated Sellers for FREE
How To Find Great Deals As A Wholesale Real Estate Investor
Rico Smith, coming back with another wonderful, phenomenal tip today and we're talking about the types of off market properties that we are going to market to, to successfully become an ultimate wholesale real estate investor.
What's an absentee owner? Well, we love absentee owners because they're one of the most motivated sellers that we can find as wholesale real estate investors.
Now, the owner is an individual that owns a property and they don't actually live there, and they may live in another state, so you may see a vacant property in a pretty neighborhood owned by someone else who doesn't live in their property. This creates a motivated situation, because if an elderly person lives in California and they own a property in Memphis, they don't want to have to travel thousands of miles back and forth to deal with the tenant and they don't want to have to deal with the travel expenses, so it creates a headache and they're getting older. So they want to be able to liquidate their properties and, you know, have a successful retirement, so that makes the absentee owner a wonderful lead.
Tax Delinquent House
If a person has not paid their taxes in a period of time that the government has told them to, then the government will repossess their entire home. See, many Americans believe that if they pay their mortgage and pay it off, then they actually own their home. FALSE. Pay off your mortgage, you can pay off the bank, but if you stop paying your taxes Uncle Sam will take your house. This creates a motivated situation for us because if they're behind in their taxes we could pay their taxes up and take the home back over for the seller and create a great deal.
Owner Occupied Individuals
Owner occupied individual, you know, maybe an elderly person who is close to 75 to 80 and they're looking to downsize. They've been living in the house for over thirty years and they're looking at either move to a retirement home, a condominium unit, an apartment, or even a smaller house. An owner-occupied individual is a motivated person. Sometimes they're easy to work with and sometimes it's a challenge, but overall they're a great, great lead.