Lease options, like any other type of real estate investing, requires finding motivated sellers. The home seller can't just be testing the market and not care whether they sell their home or not, they need to be motivated.
Certainly in our current real estate market through much of the country there are more motivated sellers out there right now who could be lease option sellers. Here are some ways to find them:
- Advertisements in the classifieds, either the newspaper or Craigslist - I like looking in the "for rent" section more than the "for sale" section
- Letters to real estate agents - real estate agents know whether their sellers are motivated and are the first to hear from their seller that they are considering renting their home if it doesn't sell
- MLS Listings that have been sitting on the market - many sellers whose listings have sat for 90 or 120 days or longer could be lease option candidates
- Out of state owners - long distance property maintenance on a home you are trying to sell is a real pain. Plus you know that they've already moved on to another home
- Vacant homes - if no one is living in it, then they have clearly moved on to another home and don't need to sell this one to get into the next one
- REIA groups - your local real estate investor group may have plenty of motivated investor sellers right now
- Word of mouth - tell people you know that you are looking for a rent to own or lease option home. The power of verbal networking can go a long way
View this post at it's original source at http://www.wendypatton.com/blog/7-ways-to-find-motivated-sellers
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