Expired listings work!

Sir John,

Thanks for the information and encouragement. Since I work full time and try to find deals in multiple counties, some of them about few hours drive from where I live. I prefer to do all the research electronically.

I found a great resource - PropertyShark.com - It is free and you can get very valuable information on this site.

Haim

The Property Trend software comes with the Academy package we bought into. You can call the Academy and ask them if you can buy just the property trend.

Steve

Hey Haim,
I saw your question and my real estate agent that is helping me is somehow able to get all of the contact information for the property owners on these expired listings. Must be access they can get.
Hope that helps!
Alecia

Back on the 18th i told you i had sent out 4 letters to Expired listings,
All 4 came back (Not Deliverable as addresses)

Thank you,
I kept looking for the letter that Carol wrote and could not find it.
I am getting ready to write a few now. Do you know if these letters have to have the owners name on them or can I address them simply as owner? The reason I ask is because I want to send letters to FSBO homes that have been on the market for over 90 days.

Thanks Again,
Portia

Portia,

Look at post #14 on this thread. Ted was so kind to post Carol's letter for us.

Karen

I am so glad that my tip worked for you. Expired listing are a Goldmine!! They have never let me down

Let us know when you sell the deal!!! Great job!!

Hay Jason, You and I both have found the key to getting seller from post cards.I have not use Carol letter yet because I Have some pre-printed post card which are working for me.I took off running to get a list from a realator i know from our rei group. I don't like using realtors yet so I have been going onto FSBO site and searching for home which have been listed for over 90 day then I send them a card. So far I pick up two property a 4bd/2b w/pool and there asking price was 175,000 it under a contract for 156,000. Owner finance subject to loan staying in place. ZERO down. The Sesond home is a assignment deal w/5000.00 from the home once I have the home sold with a new buyer. We dont have to be the buyer if the owner is willing to owner finance and or assign. You can simple be a middle man to finding a buyer 1st then assinging your contract to the new buyer for a fee to purchase your interest in your contract as a assingment cost. This has only worked with a motivated seller which cant afford to keep up with there mortgage anymore and is willing to let you put someone in there home with owner finace and you just simply walk away with a owner finance fee for bring the two people together.Just make sure you do your home work on the property and make sure no tax lien or any thing is on there deed which could slow down the deal at the closing and , check with there HOA. Some title company will check title for 100.00 Get a attorney to do your closing. Good luck. Very happy to hear others doing what it takes to step out and make it happen. Carol steinson mention just do it with fear until you get good at it. I am no super star yet but I am glad to read good things happening to other which gives me all the reason to say I can do this to. Good for you and Hope you continue to have success. Matlock

What do your postcards say? I use a Cash or Terms postcard. The response is about 1% which isnt nearly enough. Can you tell me what you have on your postcards? I'd prefer postcards over letters due to the expense.

Thanks

Hi Fellow DGers:
I too was concerned with the wording to the sellers and was rehersing my speech to an experienced fellow RE investor here in Florida. He made a simple but crucial correction for me. In the state of FL., if you represent anyone other than yourself in a Real Estate transaction, you need to be licensed in order to legally get paid. He changed the wording to "I work with..." or "I work for..." instead of "I represent..." This way, you are covered and don't need to be licensed and you are not misrepresenting yourself. I then explain that "I have a list of investors looking for properties and this one fits some of their criterias."
I then checked with a RE attorney who is a member of my REI club and he confirmed it. While he did say that the odds of getting caught unlicensed is slim, why take the chance. He also said that if you are not licensed, you could not legally persue a "breach of contract" suit should the buyer screw you out of your money. You can't sue for illegal money.
It's best to check with your state's real estate governing board to see about what you can do unlicensed and what you need a license for.
Hope this helps.

To everyone's success,

Andy Sager
AndyS

thanks guys for info. I'm a new investor in Michigan looking to connect w/other investors in this great state.

hi im a real estate ivestor in dallas forth worh and im looking for a real estate agent in the same area im looking for an agent who is familiar with deans techniques high energy open minded and is willing to make alot and low offers im looking to wholesale i have a buyers list so if this agent describes you then pm me asap highly motivated investor thanks

Haim
you can get the owner's name by going to http://propertyshark.com This is a great tool for National tax record info. Good luck!

I'm new at this and I don't have the resource to obtain the letter from the Set for Life video's. Will you share some of your wisdom?

We get more by the measure of what we give.

Thanks,

Go back to post #14 and you will find a copy of the letter already written. Just copy and paste! Good luck

Property Shark does not cover every state. It only works for about 24 states right now. Bummer!

SECURITY!!!!!!!!!

Hi,

I am trying to locate absentee owners info. I am trying propertyshark.com but am not having luck here in California. Does anyone know of any other sites I can use. Really only looking to find ways I can do this online, not that I cant go to the courthouse, just looking to save time.

thanks,

Greg Rowe

Elk Grove, CA

Hi Greg and everyone,

I tried NETRonline.com to look for property owners. Check it out.

Thanks!

If I may, I think the Property Trend site Steve referred to can be found here: http://www.proptrend.com/. It is a software program from the looks of it and may have a cost.

You can try www.propertyshark.com, though some people have indicated it is not available for all states.

You can look at www.naco.org to see if your county has a county website where you may find public records.

You can also check out www.netronline.com to find public records websites that are available online for your counties of interest.

Im sure there are more, but I'm not near my laptop!

good luck!

Good luck!

The expired listing with smoke damage that I talked about earlier we had to let go. None of our buyers seemed interested.

On a good note we sent out our yellow letter to a vacant property here in Ohio and got a call back from the owner in California. This property was a complete mess due to water damage. Ended up getting it on contract for $2k and sold it for $4k. Made $2k in profit to be split between my partner and I. So $1k each.

Its not great but considering I only make $1200 per month at my job its pretty good.

Found a buyer within 2 days by advertising on Craigslist. I don't find many buyers on Craigslist but it worked this time. Total amount of time I put into this deal was about 20 minutes.

Thats looking at the property for 10 minutes, creating marketing flyer for craigslist in 5 minutes, uploading flyer to craigslist and sending email to buyers list in 5 minutes.

I just figured it out!! Thats like getting paid $50.00 per minute.

If anyone tells you real estate investing or wholesaling doesn't work in todays market they are wrong. Remember its a numbers game.

Jason B

Thanks for the info on POF letter & transactional lenders.

Thank you for sharing the letter here.

I am really grateful that you shared this. It is an answer to one of my questions today.

I have a realtor that would like me to pay him per expired listing lead. What is the average price a realtor would charge per lead for expired listings?

I'm offering to give this guy a lot of business. The chance of a lead coming through as a sale is close to 1%, so I'm reluctant to give a fee for each lead knowing that info. I think I'll just look up expired listings on a local internet search engine if I can.

Find another Realtor! In my state I could not charge for leads like that.

This doesn't seem right! My realtor has me automatically set up to receive daily emails with my search criteria, including EXPIRED listings.This should not cause them any extra time or effort!

I think it's a matter of finding an agent who wants to work with you, and is willing to send you whatever information you need. You shouldn't have to pay your agent for expired listings. Again,if they want to work with you and make money, they'll provide you with this information, especially because this can potentially make them more money! It may show that it's an expired listing, but could be re-listed with the same or different real estate broker.

Good Luck!
Kelly