“Easy” is perhaps not the right word, every type of flip requires some amount of work. Think about this, though. When a homeowner wants to sell his or her home, he or she usually lists it with a real estate agent, who then places the property on the local MLS (Multiple Listing Service). All the other agents in town learn about that property and know they can make a commission if they bring a buyer. Even for-sale-by-owner (FSBO) houses have a wide variety of marketing vehicles to get the word out.
Usually, a vacant rental house has a lonely “For Rent” sign in the window or stuck into the front lawn, often faded by the sun after months without a tenant. Many times, after months of waiting, the owner will be thrilled to sell the house even at a price that is below the market, if only someone would make him or her an offer. This is the vacancy flip. You can buy the house and sometimes even obtain 100% seller financing. After all, the seller really wants regular income from the property and not necessarily a lump sum of money. It may not be necessary to lift a finger or spend a penny to improve the property. Simply find a tenant, put that tenant in place at market rents, and then sell the property to an investor.
The same type of person who would be ideal for a market rent flip would also be good at a vacancy flip, with one further requirement. For a vacancy flip, you will need to contact many landlords to see if they would be willing to sell their property. This is called cold calling. It involves a lot of rejection, as landlord after landlord tells you that he or she is not interested. If you can endure that rejection and stick to your plan, you will eventually find a landlord who does want to sell. Many people hate cold calling because they feel awkward making the first contact, and then they feel rejected afterward. If this is not a problem for you, you would be good at the vacancy flip.