Most new real estate investors don"t have a clue what a motivated seller is or how to locate one
. That is the main reason why a lot of newbie investors burn themselves out looking for deals. The key to making profits in real estate is by targeting motivated sellers. The newbie"s that I have spoken with usually go after bank owned deals or other deals list by real estate agents. Real estate agents have good deals from time to time but you have to sift through a lot more of their listings to find that one gem. The majority deals that real estate agents have are not motivated sellers because they understand that there is chance they may have to wait 6 months to a year to sell their house.
If you target motivated sellers you will come across some sellers that have their properties listed with a real estate agent but are looking for a way out so someone can come along and solve their problem.
Listed below are some situations where you will find motivated sellers:
* Delinquent Taxes: Homeowners with delinquent taxes could be an indication that things are getting out of hand and they might need someone to come in and make them an offer to purchase their house.
* Out of the area owners: Some of those owners have properties that they don't want. They couldn't find someone to take their properties of their hands before they moved or had a job transfer and usually they are making double payments.
*Estates: Heirs that inherited properties are sometimes motivated sellers because they want the cash from the property, the taxes are stacking up or they have to make double payments while maintaining the property.
The situations listed above are just a sample of the circumstances that could lead a homeowner to become a motivated seller. If you know where to look for deals before you start then you will keep from burning yourself out from chasing dead leads. When you target motivated sellers your chances of striking a deal sharply increases.