If you’ve been around the real estate business for
any amount of time, then you would know that the
key to getting great deals is by working with motivated
If you can find a distressed homeowner, then you will more than
likely have a great deal on your hands.
But did you know that there is another type of seller that can be
even more distressed than your average homeowner?
This type of seller is a distressed investor or in other words
a distressed landlord, and they can be one of the best lead sources
you’ll find when it comes to getting great deals.
There are a few reasons why distressed landlords are prime
candidates for good deals:
1. They may own properties that need work and they don’t have
the money for repairs.
2. They can be over-leveraged
3. They can have tenants that are not paying
4. They are not managing their properties the right way
5. They are tired of getting up at 3 AM to fix toilets
6. They may be behind in payments because a property
has been vacant and they can’t get it rented.
The list can go on and on…
But honestly, these types of sellers are great lead sources.
They are true motivated sellers.
One of the best ways to find these distressed landlords is by
contacting the codes department.
Think about it…
If a property owner (distressed investor) is not keeping their
property up to code, then the codes office will be all over them.
Once this happens, it can cause a spiraling effect that will eventually
have that property owner end up with more than they can handle.
Ultimately, they become distressed sellers and this is where you
can step in and offer a way out.
Just some food for thought!
HOW TO GET STARTED:
If you want to know an easier and scalable way to find distressed
investors without going down to the codes office then…
Now go and close some deals!