some cases, seller will publicize their intent to sell in newspapers due to cheaper

costs
c. Others see it as you do, the listing is not exclusive to you. Only properties
within the State can be accessed by you.

12. Craiglist, Backpage, byowner.com, owner.com, buyowner.com,

forsalebyowner.com, forsalebyowner.com, fsbo.com and other selling websites(No
cost):
a. Used to reach sellers also, your ad will simply say ��Behind on Payments? We
can help�. Only make the offer physically after you get to know a bit of them and
them a btit of you.
b. Usually listed under FSBO, for sale by owner. Terms like e "foreclosure",
"owner will carry", "rent-to own", "terms". Are usually by wholesalers and other
investors, so stay away from these quoted terms.
c. Close to no cost advertisement for seller. The same can be done by you if you
intend to market a property for sale. Learn to do this first them use CRM to
delegate the listing and conversation of marketing.

13. Lender�s Auction Site(Banks)-Auction.com:

a. What: When they send the homeowners notice of sale, they prematurely list it
for auction in an attempt to get full price despite their awareness that the
property is usually discounted due to its condition and status. They will list it
on auction.com as �foreclosure sale� a.k.a �bank owned�, but in truth it is pre-
foreclosure meaning it is not yet bank owned since the foreclosure has not
occurred, then they place details of it as �occupied�, if it is occupied, then it
is not bank owned, it is just a sales tactic to make as much.
b. How: You use Propstream to see if it is a �notice of default� (pre
foreclosure) or �foreclosed�(REO-bank owned), then check if the deed is still in
the name of the homeowner or the bank via recorder and corroborate it with
Propstream information. Use Assessor�s website to find the property�s and begin
your marketing for motivated seller and stop the foreclosure since it is still at
the pre-foreclosure stages. Pre-foreclosure stages(notice of default) usually takes
1-3 years on average to foreclose especially in mortgage states where a formal
judicial proceeding is required.
14. HUD Auctions: See Section explaining the details below.
15. Facebook Real Estate Groups.
a. It works, just list the image and what you are seeking, you can even get
others to do this for you.
16. Zillow, Realtor, FSBO Website:
a. Just use the search criteria to filter properties For Sale By Owners.
17. hudhomestore.gov(foreclosure properties) �Bidding required. << Mailing
wholesaling
18. Expired MLS Listings
19. FOIA at the city of properties address ( not information of property owner
due to FOIA privacy issue) with waters cut off for at least 30 days.
a. Contact City Clerk, not the water department.
b. Then cross reference the addresses with the appraiser or county recorder to
see names of owner then skip trace their phone.
c. Then you have a mailing list of distressed owner who don�t live in the
property anymore.
20. Vacant Houses
21. Tax Sales
22. Estate Sales
23. Pre-Foreclosure lists (Create Door Hangers or letters to them)
24. Networking-Realtors, divorce lawyers, tax preparation compnies
25. Driving the neighborhood.

26. Ebay, Yes Ebay

a. The most desperate people go here, but be prudent of scammers just as in
other platforms
27. New construction(New neighborhoods): These people buy new homes because
builders work with realtors and mortgage companies to give them down payment
incentive and inaccurate lower pricees which is attractive, but most buyers have
buyer�s remorse, when they attempt to sell, the buyers see signs of the realtor and
mortgage company rather than to directly to the seller, but the realtor cannot sell
in the way the home owner wants to sell, so you go in there, sign contract with
them, take the image list it for sale to build buyer�s list, then close with the
seller. Make certain they are ready to walk away. These types of people actually
exist!
a. Newhomesource.com: These prices are not the actualWhen using this website,
(i) search the particular desired area to visit, (ii) FIND �For Sale� signs by the
owner, (iii)take image of property physically�no image of their posters, (iv) visit
the office there and grab all there selling description they hand you, you will use
these description on your lease option listing LATER, (v) Have them do a viewing
for you so you can take image of the inside�tell them you want to show your
spouse(this image will be used on your lease option listing LATER).If you cant
obtain internal images, no problem, outdoor image will work; (vi) lsit it in the
SAME CITY on craigslist at which ti is located, list it both under FSBO and FRBO.
28. Other: rentometer.com (check rent price of most properties)
Email/ Text template for Subject to: Hello, I'm interested in your buying property.
Would you take some cash and let us take over the payments? I can usually pay full
price with very little or no closing costs. Regards, Your Name Your Cell Phone

Finding details on the property, inside and out:

1. Title Account from any Title Company
a. Title companies create these for free for potential clients.
2. ZIllow,
3. Redfine
Keywords to look for in seller�s ads
1. 'must sell'
2. "obo"
3. " Property Needs no repair"(YOU WANT THESE)
4. "Properties built from 2000-present" (They must look clean and middle class
because youll be doing lease option �as is�)
5. Is it listed with Real Estate Agent? If not they are the best, they are in
distress, if they have it listed with RE Agent, the RE agent has incentive to spoil
your own offers, step away or attempt to partner depending on how competent they
are.

Types of Properties to Search for:

1. Built 1-5 years ago. Newer homes = easier to sell due to being attractive and
owner�s usually have no equity and less competition due to investor junker
searches.
2. Homes that people want to live in now
3. In the economic price range of 200k-400k(Avoid under 200k), not too high
not too low, these people have life issues also.
a. Price range of property you seek and work with determines your cashflow, the
higher the property, the higher your cashflow and other benefits from lease option:

4. No less than 3 bedroom 2 bath as much countertops, stainless steel, pool and
home comforts.
5. High lawn, foreclosure, pre foreclosure, they will tell you their life�s
issue in person(not often over the phone)
Steps to closing (Sub-To)
1. Meetings: Only 2 Documents needs to be signed when you meet seller: (a)
Purchase and Sale Agreement (agreement to the terms) ;(b) Authorization to Release
( authorization to find about loan); (c) Memorandum of Agreement; (d) Offer to
Purchase.
a. 1st is over the phone: Don�t make offer. Call and set up a time to see
property and speak more about it, ask them basics, but repeat the basics when you
meet them physically also. Get them to express a number they want, simply ask them
the basic questions seen under �Questions for motivated sellers�.
i. Know market value and market rent

b. 2nd is physically meeting them and the property (Take your �Property
Information Sheet� with you):
c. This is where you make the offer and your goal is to get them to sign the
form called �Authorization to Release Loan Information�. This form allows you to be
well informed on what the money situation is and how best for you to approach it
and their authorization for you to know of it has to be given. Listen to their
responses to find the best way to assist them, and assure them you will make an
offer after looking things over (have a notepad deal sheet).Then hand them the
Letter of Intent. No closing form is signed now, after this, a mobile notary is
sent to them to get them to sign the closing related documents(notaryrotary.com).
You close a Subject To by notary who will notarize the following forms (1) a common
Sale Contract used by realtor association (2) Subject-To addendum (3) Purchase
Contract. (4) Bill of Sale �for personal property they don�t want but might come
back and need so preserve its sale via BOS purchase it from them anywhere from $1-
$100. (5) Assignment, (6) POA, (7) Deed. Therefore the 4 main things while
meeting them are:
i. If there are no other liens, your offer is you will buy the house for what
they owe on it (the loan balance and deal with the past due amounts under the
condition that they move out)
ii. �Hand them the Letter of Intent�; You are prepared to close on their house
within a couple of days
iii. When would they like to move?
iv. Have then sign the authorization to release and hand you (1) mortgage
statement (or online payment information), and (2) tax bill.

2. Due Diligence:

a. Lender: Call the lender to verify the below list but know that before you can
talk about the seller�s loan, the bank will need a signed copy of the Borrower�s
Authorization to Release Loan Information AND Limited Power of Attorney(file this
if you intend to use it). The initial call should establish contact and to get
their fax number for the Borrower�s Authorization. Allow 24 to 48 hours before
they upload this document into their system. Once you�re cleared, then you�re
allowed to talk to the bank about the seller�s loan:
i. Info to Obtain from Bank (Tell them �My name is ______, I have a third party
release on file, it should be name on authorization to release AND Limited Power of
Attorney� :
I. You are the financial advisor, not the buyer, and the homeowner is the
mortgagor or borrower.
II. Reinstatement figures(Amount you need to