Mark in St. Louis 0 Report post Posted March 1, 2004 I have never called "for rent by owner" ads from the local paper but and considering starting. Right now I am focused on only doing CA's. My question is does anyone feel that calling FRBOs would be a viable marketing method? Won't most of the ads be landlords? Will they be willing to sell? If they would be willing to sell, would they be more interested in a sandwich deal than a CA type deal? I guess I want to make sure I'm not wasting my time before I get started....given the fact that I am focused exclusively on CAs right now. Thanks! Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted March 1, 2004 No personal experience here (obviously, having not done any CAs) but a local associate of mine has set up several CAs for landlords. He doesn't call FRBO ads, but he does run an ad that reads something like: "LANDLORDS! I can save you thousands in maintenance and lost rent!" When they call he pitches a CA-type deal (he doesn't call them CAs) or a partnership arrangement (sort of a sandwich). He set up a few for free to gain experience and references. Now he usually collects all of the consideration and half of the cash flow. So, like everything, it's not a question of whether landlords may or may not wish to sell. It's all about which benefits you emphasize. No maintenance.No tenants.No management fees.More cash flow. Starts looking pretty good to a landlord, don't you think? Share this post Link to post Share on other sites
Mr Saint 0 Report post Posted March 1, 2004 Mark, All the deals I've done so far and even ones that didn't come to full fruition were from calling For Rent ads. You are right in thinking that a good majority of the ads will be landlords, but like Doug said, there is a way to pitch to them as well. And of course, the ones that aren't landlords will be, at least in my experience, pretty motivated sellers. Doug, Nice idea, I think I may try something similar. Sounds like quick, easy cash to me. Share this post Link to post Share on other sites
Mark in St. Louis 0 Report post Posted March 2, 2004 Doug, Thanks for the feedback. How many deals has your friend done from the ad you mentioned? Mr. Saint, How many completed deals have you done from calling FRBOs? And what has the split been? Percentage % CA vs. Sandwich? Thanks guys! Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted March 2, 2004 Mark, I don't know how many he's done from the ad itself. He networks like crazy and his wife is a realtor so they have a lot of things going all the time. I do know that he has done about 50 LOs since he started in November 2002. Some of those landlords that he has worked with are now money partners, buying additional houses through his wife, specifically to LO. They've got quite a niche going for themselves over there! Share this post Link to post Share on other sites
MichaelC 160 Report post Posted March 6, 2004 Mark, over the years I have found that calling FRBO's to be a worthwhile pursuit. You are correct in saying that a good number of the ads will be landlords who neither want nor need our assistance. However, the guy I'm looking for is the one who says "I'm glad you called! We're moving in two weeks and we've been trying to sell without any success. We just put the property on the market as a rental to cover our payment. This lease purchase idea sounds intriguing! Tell me more."Now, when I hear that, I congratulate myself on my fortuitous timing, and I proceed to sell the homeowner on the virtues of what I do and how I do it. I could go either way: CA or sandwich lease, depending upon the property, the numbers, the homeowner, etc. Share this post Link to post Share on other sites
