Top 5 Lists And Where To Pull Them | Wholesaling Real Estate
Many people wonder "what are the best lists that are working right now for wholesaling real estate?" Well, if you are asking this same question, then you are in luck! In today's article I will share my top 5 lists and where to pull them...
List #1 Self-Generated List
A list pulled from driving around your local area (or, as I prefer, having others bring them to me), putting eyes on distressed houses will always be the best and highest converting motivated list you can get. How good are these leads, do you ask? Well, my team just contracted a property from one of these leads this week that will result in a $60,000 assignment fee, and the best part is we didn't pay a dime for it. If you would like to learn how to get deals like this, you should check out the FREE training I am hosting this week on this strategy. You can register by going here: FREE Webclass
List #2 Bad Credit
The second best list for targeting motivated sellers is what I call the "Bad Credit" list. This list is primarily made up of homeowners who have lower credit scores, lower income, higher credit card balances, and equity in their homes.
The Bad Credit list can be purchased from a company called Caldwell lists and you can access their website here: www.caldwell-list.com
List #3 Delinquent Taxes
Homeowners with delinquent property taxes can be one of the best lists to target. The Delinquent Tax list was the first list I started with that provided consistent deal volume and remains one of our top lists to this day. So you might be thinking, when do homeowners get on this list? Homeowners become delinquent when they fail to pay their real estate property taxes in a given year. I find that the best homeowners to target in this group are homeowners with equity, who are at least two years or more behind on their property taxes.
Why is this such a motivated list? When a homeowner falls behind on their taxes, the local tax collector will sell Tax Lien Certificates at an auction for the balance owed on their real estate taxes. If they fall three or more years behind on their property taxes, they risk losing their home to foreclosure. In the meantime, the homeowner can always pay the past due, plus accrued interest to get back into good standing. However, if they don't make payment within three years, in some states like Florida, the owner of the Tax Lien Certificate will have the option to purchase the property for the amount of owed taxes and foreclose on the homeowner. The mortgage is then wiped out entirely, and the purchaser now owns a home free and clear for simply paying the past due taxes.
You can pull Delinquent Tax lists from the county tax assessor site for free, however, the list would need to be "cleaned up" since in most cases there's a mix of residential, commercial, and industrial records. The easier way to pull this list is with a service like PropStream. You can secure your free 7-day trial by clicking here.
List #4 Vacant Houses
Properties that are vacant will always be one of the best lists to target, mainly because it's a huge liability for a house to be vacant. If you think about all of the expenses that come along with a property it will make total sense. Sellers have mortgage payments, tax payments, property maintenance, payments on repairs they have financed in the past, code violation liens, etc. the list goes on and on. I also find there is always a motivating reason the house is vacant. Here are a handful of examples:
1.) Relocated for work and didn't have time to sell
2.) Inherited a house and still trying to find the time to figure out what to do with it3.) House was a rental at one point, went vacant and now it needs too many repairs to fix up, so it just sits empty.
4.) Moved out of state, but didn't want to sell the house they grew up in...or rent it.
5.) Couldn't afford the mortgage anymore so just packed up and left in the middle of the night
All these reasons considered, you can see why a homeowner would be happy to hear from someone who can get them out of their headache and put cash into their pockets.
It's fairly easy to pull a vacant house list. The best way to do this is with a service like PropStream. You can secure your free 7-day trial by clicking here.
List #5 Absentee Owned Lists
Absentee-owned properties are another great list to target. These are properties that someone owns but doesn't live in. Instead, they rent these properties out to create income for themselves. However, not every owner is a good landlord or becomes one on purpose. Sometimes, people move into a new home, and rather than selling their current one, they keep it and rent it out.
Other reasons for selling could be market cycles. Maybe the current owner picked up the property for a steal at the bottom of the market, but now prices and demand are at an all-time high, so it makes sense for them to sell it. This being the case, targeting Absentee owners at the top of the market will always be a smart choice.
Here are some of the many reasons why Absentee-owners would want to sell:
1.) Tired of managing tenants and toilets
2.) Nightmare tenants destroyed house
3.) Moved out of state
4.) Retiring and needing to cash out
5.) Top of the market and wanting to cash out
I use PropStream to pull all of ur Absentee owner lists. You can secure your free 7-day trial by clicking here. You can also pull this list from ListSource.com as well, but PropStream is our preferred choice.
There are many ways to find motivated sellers and the top 5 lists above have been the most effective for my business. The reality is that all lists work and what matters most is consistency with your marketing.
To Your Success,
- Chris Logan
P.S. By the way, if you would like to take this strategy to the next level, then you'll want to join me as I host a FREE online web class called Instant Deal Secrets. You can register here => FREE Webclasson
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