Finding Motivated Sellers - A Crucial To Goal Setting For Real House Investors

If you should be a real estate investor or considering becoming one, you know (or soon will know) that real estate investing is all 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 a lot of time on goal setting regarding motivated sellers. If you need motivated sellers, to achieve most if not your entire other goals, then doesn't it seem sensible to focus on the motivated seller part of your goals, at least in the beginning?

Anyone looking at my portfolio of audio CDs and courses will quickly find a routine; over half of the titles are about finding motivated sellers. How come that? Let's consider it.

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

The cheaper you can purchase the house, the more cash flow you can generate from the house and the quicker and more safely you can achieve your goal of generating $10,000 in rental income. Try buying houses for top dollar and generating rental income from their store quickly. In every but several markets, it's very hard to accomplish (if not impossible).

But wait! You say your goal is always to generate income from wholesaling property... you may not need certainly to generate cash flow as a rental. Well, motivated sellers are much more crucial that you you.

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

1. Make the offer very attractive to the investor you're wholesaling it to (low price, great terms or both)

2. Gain control of the house so that 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 be able to buy houses at a discount or who'll permit you to put the house under contract with a 30 or 60 day closing period so that you have time to find your buyer.

Motivated sellers should be the key to your real estate goal setting. So, do you believe me? Great, so here are 3 tips about motivated seller goal setting.

Tip #1: Motivated Seller Quality Comes From Quantity

While you might have goals about converting x quantity of potential sellers to actual sellers, you will need to realize that you need to sift and sort through lots of sellers to find truly motivated ones. The possibility of you getting a motivated seller after talking to half a dozen sellers is pretty low. Even with super marketing materials and a wide variety of what I could assist, we typically need certainly to proceed through about 10 sellers to find 1 that is motivated enough that individuals may make the offer work.

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

"My goal is always to communicate with a lot of motivated sellers." Utter nonsense. You need to have a certain number to communicate with in a certain time frame and track the outcome daily.

"My goal is always to communicate with 50 motivated sellers each month." Getting better. Every day you will need to see if you should be on track to achieving your goal of talking to 50 motivated sellers that month. Or even, 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 a little graph at the top of almost every page that shows 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 turns up red. When you have met your goal for the afternoon, it's green.

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

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

"Don't try to make a marginal deal work, go find a better deal."

When you have 10, 20 or 30 sellers calling in each week, it is a lot easier to state no to a house that you are not 100% sure of... maybe the worthiness of the property is questionable. Maybe you may not just like the looks of the situation of the roof. Perhaps you don't trust what the vendor is telling you. If you have lots of other sellers to communicate with, it's much simpler to state, "I'm going to pass" and move on.

By the way, you'd be surprised at just how much better the offer gets once you do leave and they return to you per week, month or many months later.

So, as you begin to create your goals, keep in mind that while other goals are essential, the absolute most critical and key goal for real estate investors is the target you add for motivated sellers.

You can get a totally 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.