How To Wholesale "Tired Landlord” Properties [LIVE Call Breakdown]

Tired landlords are property owners who are burnt out from managing rental properties and are willing to sell at a discount. This podcast explores how to identify and contact these landlords to potentially wholesale properties for profit, highlighting the differences in communication compared to distressed homeowners. The podcast also features a live call with a tired landlord, illustrating a direct and numbers-focused approach to negotiations.

Identifying Tired Landlords

• 00:00:54 Tired landlords are more prevalent than many realize, often owning fewer than five properties and facing challenges with maintenance, repairs, and tenants. They are often small-time investors who have become burnt out due to the ongoing hassles of property ownership, especially those who manage their properties themselves.

Finding Tired Landlord Leads

• 00:03:01 One method to find tired landlords is to call properties with ‘For Rent’ signs, expressing interest in purchasing the property, not renting. Alternatively, websites like PropWire.com offer lists of tired landlords based on criteria like property ownership duration, out-of-state residency, and free-and-clear ownership status.

Communication with Tired Landlords

• 00:05:00 The approach to communicating with tired landlords differs from distressed homeowners. Tired landlords, being investors themselves, are often more focused on the numbers, making direct offers a viable approach. The speaker advocates for a quick, direct approach, emphasizing cash offers and avoiding unnecessary small talk.

Live Call Example

• 00:07:25 The podcast includes a live call example with a tired landlord in Texas, illustrating the direct communication style recommended. The speaker swiftly gets to the point, offering a cash price significantly lower than the market value, highlighting the difference between negotiation tactics with a tired landlord compared to a distressed homeowner.

Utilizing a Cold Calling Agency

• 00:06:54 The speaker recommends using an overseas cold calling agency to contact and qualify potential sellers. This service provides a more efficient way to manage contact and filter potential buyers, offering an affordable solution to streamline the buying process.