Dontwanner (don't want her) is a term I often use to describe distressed properties -- houses and other real estate that the owners don't want so much that they're willing to do anything to get rid of it, including deeply discounting it. Real estate investors can score big profits on dontwanners by recycling what the owners consider burdensome trash into cash.
Every neighborhood has its share of these trash-into-cash opportunities, but finding them can be a bit challenging, especially if you don't know where to hunt for these hidden treasures. In this article, I show you how to spot the dontwanners in your neighborhood.
Cashing in on the Four D's
When treasure hunting for distressed properties, remember that either the property or the owner can be distressed. Usually it's both, but some of the best opportunities can be discovered by looking for distressed owners. Follow the four D's:
- Death
- Divorce
- Desperation (resulting from a job loss or other financial setback)
- Drunkenness
Cruising the Neighborhood for Dontwanners
Drive, walk, or bicycle around your neighborhood in a search for dontwanners. Some of the best properties may not even be for sale, so look for the following signs and symptoms:
- Overstuffed mailbox
- Porch littered with newspapers
- Overgrown lawn
- House looks vacant inside
- Cheap For Sale or FSBO (For Sale By Owner) sign
If you spot a dontwanner, talk to the neighbors to find out who owns the house, and then try to contact the owners to see if they want to sell the house.
Digging through the MLS Listings and Classified Ads
Check the Remarks section on MLS listings and classified ads in your local paper for the following clues that the property is a dontwanner:
- Sold As Is
- Handyman's Special
- In Need of a Little TLC
- Needs a Little Work
- Must Sell
- Needs Work
- Fixer-Upper
- Relocating
When looking at classifieds, smaller ads trump larger ads. Large ads indicate that the owners are willing to invest more in marketing, meaning that they expect a higher price.
Published: September 21, 2006
Use of this article without permission is a violation of federal copyright laws.
 Ralph R. Roberts, CRS, GRI is an award-winning and internationally recognized real estate agent, author, coach, and speaker.
Throughout his career, Ralph has proven his commitment to helping other real estate and sales professionals build upon their past and present success, grow and expand their businesses, and provide a rich and rewarding future for themselves, their customers, their employees, and their families.
As president and CEO of Ralph Roberts Realty, Ralph has personally helped thousands of consumers realize their dream of homeownership. While selling over 10,000 homes (and buying and selling over 3,000 investment properties) throughout his 30-year career, Ralph has made the time to mentor and coach hundreds of professionals in real estate, sales, and a host of other fields. Ralph is a recognized authority on Real Estate and Mortgage Fraud; Residential Real Estate; Personal Salesmanship; Sales Force and Office Management, Motivation, Design, and Team Building; and Foreclosure Self-Defense and Loan Modification, fields in which he has demonstrated his commitment to preserving the American Dream of Homeownership.
Ralph's numerous websites, blogs, seminars, and speaking engagements engage, entertain, and educate both consumers and professionals. Ralph is also an accomplished author with several successful titles to his credit, including:
- Power Teams: The Complete Guide to Building and Managing a Winning Real Estate Agent Team
- Financing Real Estate Investments For Dummies (John Wiley & Sons)
- Mortgage Myths: 77 Secrets That Will Save You Thousands on Home Financing (John Wiley & Sons)
- Foreclosure Self-Defense For Dummies (John Wiley & Sons)
- Protect Yourself from Real Estate and Mortgage Fraud: Preserving the American Dream of Homeownership (Kaplan)
- Foreclosure Investing For Dummies (John Wiley & Sons)
- Foreclosure Myths: 77 Secrets to Saving Thousands on Distressed Properties (John Wiley & Sons)
- Advanced Selling For Dummies (John Wiley & Sons)
- Flipping Houses For Dummies
- 52 Weeks of Sales Success (John Wiley & Sons)
- Walk Like a Giant, Sell Like a Madman (John Wiley & Sons)
- Cross-Cultural Selling For Dummies (John Wiley & Sons)
To learn more about Ralph, visit AboutRalph.com, check out his daily insights on real estate and mortgage fraud prevention at FlippingFrenzy.com, or visit his latest blog dedicated to helping distressed homeowners fight foreclosure, KeepMyHouse.com.
You can reach Ralph at or by calling (586) 751-0000.
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