Finding Sellers:

Finding interested sellers is often the most daunting step of the entire process (the first step usually is). It takes persistence and a willingness to get out and talk to people. Since your ultimate goal is to make money, you want to find the motivated sellers, the good deals, the discounted opportunities. Some possible sources are:

·    Bank foreclosures
·    Bank REO’s
·    Delinquent tax sales
·    Probate and estate sales
·    IRS sales
·    VA repossessions
·    FDIC sales
·    Fannie Mae and Freddie Mac
·    For Sale by Owner listings
·    Real Estate agents
·     Internet listings

Finding sellers through these sources can take a lot of leg work and a willingness to talk to lots of people. If you have the time and are interested in pursuing any of  these avenues, start with your local banks, county recorder offices, and real estate  professionals. Also, keep an eye on your local newspaper, both legal notices and classifieds. As you begin networking with more people, you will begin finding more opportunities. There are whole courses taught on prospecting methods and strategies, check out my other guides that talk about this in detail. However, the best way to really learn is to jump in and get started. As you do, it takes time to build up your lead sources, so be prepared to be patient and persistent.

Of all the lead sources consider this: What you are looking for is motivation. Anything that denotes motivation makes the seller a better potential investment. Most sellers don't carry a sign around their neck that says motivated seller so you have to learn to be an investigator. Find out the reasons why they are selling. Many people say they just want to sell but that is seldom ever the case find out why.

Once you find out why put yourself in their shoes and think what do they really need to accomplish by selling their property? Once you get down to what the seller really needs then that is the best way to adress the offer.