Consider sending direct mail pieces to a “recently inherited property list” or “inheritance list” to find people who have inherited property through probate. You can find this type of list at www.usleadlist.com.
This site specializes in discounted investment property leads, so be sure and go there to see how it might help you.
For people who have recently inherited commercial property, this can be like found money for them.
Especially if they live in a different state than the one where the property is located.
In that case the property can quickly become a management hassle for them.
Your marketing piece will let them know you’re interested in buying at possibly the very moment they may want to sell.
This might be the answer they’re looking for to get their hands on this new found cash.
You can consider sending these people “yellow letters” that are customized and personalized.
These have been reported to get some of the best response rates.
Here’s a little bonus to find even more motivated homes sellers via direct mail…
Another way to target motivated home sellers is by going to www.ListSource.com.
If you want to target properties that have equity, you can search for leads that have small mortgages. That will vary depending on your area.
A rule of thumb might be a mortgage amount that’s 50% of current market value or less.
Have the transaction date on the property start at 15 years back or older.
You’re looking for properties that have equity with no new loans on it since the original purchase.
Then add to that search criteria “absentee investors” for your area. These are out of town landlords.
Over time, landlords get burned out and are ready to sell. Send them a letter or postcard letting them know you’re interested in their property.
Your marketing may produce sales now or in the future. On the marketing piece somewhere say, “Save this card/letter for when you’re ready to sell! I might still be interested.”
This “might” implies you might NOT, which psychologically means they should act now.
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3rd generation real estate investor