Michigan Real Estate Investors Guide To Finding Motivated Sellers on a Shoestring

The folklore of real estate says that the fundamental facet to making more deals is finding motivated sellers. Unless you are a seasoned hand in Michigan real estate investment business, do not expect sellers to beat a path to your office. While finding motivated sellers, without any out-of-the-box thinking, you can look at various sources on a shoestring budget.

FSBO signs
One sure way of finding motivated sellers is through the "For sale by owner" (FSBO) signs. How do you find FSBO sellers? Classified ads in local newspapers or handmade FSBO signs in front of the property is your sure bet.

Newspaper ads
Run a creatively written ad in your local newspaper and let them call you up. Finding motivated sellers from these callers will be relatively the superlative way, as few tire kickers respond to these ads.

Out of town owners
By calling / sending mails to out of town owners of properties, finding motivated sellers is easy. The reason - many of them prefer not to face the hassles of maintaining a property from a far-away place.

Flyers
Inserting flyers in newspapers, in a targeted area, is an economical way of finding motivated sellers. Besides newspapers, look for other ways of distributing flyers.

Pre – Foreclosures
Finding motivated sellers before the auction process sets in, is yet another way. Check the courthouse for a big list of potential foreclosures.

Michigan Foreclosures
By participating at the auction, at the sheriff sales, or on the courthouse steps is another way of finding motivated sellers. Network with process servers and you can always end up receiving a call from motivated sellers without any up-front expense.

You can also look for bargains by involving yourself in HUD and VA auctions. You can ask your realtor for a lead on HUD / VA auctions or you can check their websites. Another option to participate in auctions is tax sales.

Referrals
Referrals from realtors, plumbers, carpet cleaning companies, attorneys, mailmen, accountants can help finding motivated sellers. Building networks with these people are one of the tasks essential for your success as a real estate investor.

Besides these, it is effortless finding motivated sellers from people who have a job transfer, a divorce, or a probate on their hands. It is also effortless finding motivated sellers from those owners of properties with outstanding code (building or health) violations, condemned or fire-damaged properties. It is also not taxing if you are finding motivated sellers in the landlord community. Some of them do seek to trade off certain of their existing properties.