My partners and I are getting a ton of leads lately. And most of them are absentee owner leads since that’s the niche I target. I’ve got one lead I’m working on where the guy is in Hawaii and he’s super motivated because the house is vacant.
I’ve got another lead with a guy who’s overseas (in Australia) and he’s also got a vacant house he wants to get rid of ASAP. And right before I started on this post I got another lead emailed to me, but this person lives nearby the house.
All three of these leads look like they could be subject-to deals…
So where are all of these leads coming from? Well, it’s a free and little-used source in the real estate investing world. I’m talking about Craigslist. And I’m saying it’s little-used because most people try and sell properties on Craigslist. Very few investors scour the listings and try to find houses.
You see, I have my criteria for 3 bedroom, 2 bathroom bread and butter houses. So what I do (or my assistant does) is get on craigslist daily and look in the “for rent” section for properties that meet my buying criteria.
What happens when I find a property that I’m interested in?
I simply send the landlord an email. In fact, right now I’m going to give you the exact email I send to people that is getting me flooded with leads right now. I hope you’ll use the email below to make a heck of a lot of money too.
Here you go…
Your property looks very good. I was wondering if you might be interested in a lease with option to buy, with the property. This is where I would rent the property from you and you would allow me to buy it down the line. In a lease option, I would lease the house from you for a period of 3-5 years and then purchase it during the term. During the term, I would GUARANTEE the rent and, maintenance and when I bought the property, you would save 6% on Realtor’s fees and I would pay almost all of the closing costs (because I’m not a Realtor, I don’t charge you any fees or commissions). Landlords love this program, because they get guaranteed rent, even if the property is vacant.