You may have just bought a rental property that will need renovations, or you may have a tenant turnover in one of your rentals that needs some TLC before you move your new tenant in. Your contractor is compiling the scope of work, and on that SOW, they have included a tub that has chipped or some minor damage, is old looking, and needs to be reglazed or replaced. So, now, what do you do? Will you reglaze, or will you replace it? To help you make that decision, here is a list of pros and cons of reglazing a bathtub compared to replacing it.
(CLICK HERE to Read More)the confident woman landlord
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As real estate investors, you often work hard looking for your first or next deal. However, you are looking for the wrong thing. Instead of looking for a property, you should be looking for a motivated seller.
You might ask, “Just what is a motivated seller?” The answer lies in the strong need to sell their property. Let’s take a look and see what it means when a property owner is motivated to sell.
Motived sellers often don’t want to sell their property. Instead, they have a pressing need to sell because of a dire situation.
A motivated seller has a problem. And we come in as the problem solvers. We are there to help them pick up the pieces when things seem to be crumbling down around them.
It could be divorce, estate sale, inheritance, tired landlord, pre-foreclosure, no money for extensive repairs. The list is endless on why people need to sell a property fast and at a discount.
Once you understand their problem, you will know how to approach them with several offers. You have to be creative and come in as the problem solver with your solution and offer.
This motivation can lead them to agree on low offers or flexible financing terms to eliminate the hassle as quickly as possible. As the situation becomes desperate, they are often willing to take a more significant discount.
They may find installment plans or seller financing terms attractive. And, of course, they may decide to accept a lower amount when you explain that you can arrange a quick no-hassle close with a cash offer.
We share over 50 ways to find motivated sellers below.
As real estate investors, you often work hard looking for your first or next deal. However, you are looking for the wrong thing. Instead of looking for a property, you should be looking for a motivated seller.
You might ask, “Just what is a motivated seller?” The answer lies in the strong need to sell their property. Let’s take a look and see what it means when a property owner is motivated to sell.
Motived sellers often don’t want to sell their property. Instead, they have a pressing need to sell because of a dire situation.
A motivated seller has a problem. And we come in as the problem solvers. We are there to help them pick up the pieces when things seem to be crumbling down around them.
It could be divorce, estate sale, inheritance, tired landlord, pre-foreclosure, no money for extensive repairs. The list is endless on why people need to sell a property fast and at a discount.
Once you understand their problem, you will know how to approach them with several offers. You have to be creative and come in as the problem solver with your solution and offer.
This motivation can lead them to agree on low offers or flexible financing terms to eliminate the hassle as quickly as possible. As the situation becomes desperate, they are often willing to take a more significant discount.
They may find installment plans or seller financing terms attractive. And, of course, they may decide to accept a lower amount when you explain that you can arrange a quick no-hassle close with a cash offer.
We share over 50 ways to find motivated sellers below.
Networking/Word of Mouth
Driving For Dollars
FSBO (For Sale By Owner)
Wholesalers
Auctions
Direct Mail
Attorney's
MLS (Multi-Listing)
Real Estate Agents
Marketing
Other
Keep Moving Forward
I Believe In You!💖
“
" Choose your properties wisely.
You want money makers, not money takers."
Mary Jo Whelan
Recent Posts
August 2, 2023
The worry of squatters moving into your vacant property is a legitimate concern for real estate investors.🏠 Taking preventive measures is the cure to assure you that professional squatters will not move into your vacant property. To alleviate this worry and help you sleep at night, I have put together a blog with a comprehensive checklist of items that will help steer unwanted and unauthorized people from taking advantage of your vacant unit.
(CLICK HERE to Read More)May 31, 2023
Feeling lost and overwhelmed with starting a rental property business? Don’t fear – this article is here to provide ideas that can help give your venture the boost it needs! Whatever situation you’re facing, these simple key strategies are sure to steer you towards success in the real estate world. Success. In some way or another, we all want it. But how do you find success, and what exactly is success?
(CLICK HERE to Read More)Recent Posts
September 6, 2023
You may have just bought a rental property that will need renovations, or you may have a tenant turnover in one of your rentals that needs some TLC before you move your new tenant in. Your contractor is compiling the scope of work, and on that SOW, they have included a tub that has chipped or some minor damage, is old looking, and needs to be reglazed or replaced. So, now, what do you do? Will you reglaze, or will you replace it? To help you make that decision, here is a list of pros and cons of reglazing a bathtub compared to replacing it.
(CLICK HERE to Read More)August 2, 2023
The worry of squatters moving into your vacant property is a legitimate concern for real estate investors.🏠 Taking preventive measures is the cure to assure you that professional squatters will not move into your vacant property. To alleviate this worry and help you sleep at night, I have put together a blog with a comprehensive checklist of items that will help steer unwanted and unauthorized people from taking advantage of your vacant unit.
(CLICK HERE to Read More)May 31, 2023
Feeling lost and overwhelmed with starting a rental property business? Don’t fear – this article is here to provide ideas that can help give your venture the boost it needs! Whatever situation you’re facing, these simple key strategies are sure to steer you towards success in the real estate world. Success. In some way or another, we all want it. But how do you find success, and what exactly is success?
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Mary Jo Whelan is a leader in the field of residential property rentals. She owns and runs a property management and renovation company in Baltimore.
Mary Jo started with no money, college education, or job. From these humble beginnings, she has grown her company to manage over 100 rental properties and manage over 50 rental renovations a year.
She co-facilities a monthly landlording strategy meeting for a local REI group and is the past president of NAPRM, National Association of Residential Property Managers.
Mary Jo is also the founder of Lucrative Landlording for Women, an exclusive community for success-driven women landlords. Lucrative Landlording provides an elite coaching program, masterclasses, and networking events designed to help women landlords maximize their cash flow and keep high-quality renters.
Mary Jo is passionate about helping women landlords succeed in the field of landlording, secure their financial future, and create generational wealth.
In her spare time, she enjoys practicing techniques for furniture painting, gardening, and traveling. And yes, just for fun, she actually jumped out of a perfectly good plane.
Mary Jo Whelan is a leader in the field of residential property rentals. She owns and runs a property management and renovation company in Baltimore.
Mary Jo started with no money, college education, or job. From these humble beginnings, she has grown her company to manage over 100 rental properties and manage over 50 rental renovations a year.
She co-facilities a monthly landlording strategy meeting for a local REI group and is the past president of NAPRM, National Association of Residential Property Managers.
Mary Jo is also the founder of Lucrative Landlording for Women, an exclusive community for success-driven women landlords. Lucrative Landlording provides an elite coaching program, masterclasses, and networking events designed to help women landlords maximize their cash flow and keep high-quality renters.
Mary Jo is passionate about helping women landlords succeed in the field of landlording, secure their financial future, and create generational wealth.
In her spare time, she enjoys practicing techniques for furniture painting, gardening, and traveling. And yes, just for fun, she actually jumped out of a perfectly good plane.
The content presented in this blog is provided for entertainment and educational purposes only and does not constitute legal or other professional advice on any subject matter. Lucrative Landlording provides information it believes to be accurate, however, Lucrative Landlording makes no representations or warranties about the accuracy or completeness of the information contained on this blog.
