Marketing Methods

[puls1234 0]

Ok, here are all the marketing methods I am using to find homeowners to do a cooperative assignment.

 

1. Billboard- Cost me $3600 for 1 year and I already got a deal from it that gave me $7,000. 2nd billboard on other side of town is coming soon!

 

2. Weekly Paper- I use the graphic from my billboard and put it in the weekly paper every week 52 weeks a year! My billboard says, "We Buy Homes Above Market Price"

 

3. Signs on my new truck- In 2 days I will have signs that say "We Buy Homes Above Market Price" on drivers door, passenger door, and then in the window on the back fo the truck. Notice how I am trying to brand that message in the community so it becomes a brand name.

 

4. Call FSBO ads- By far the most dependable method we all have. It has consistently gotten me deals.

 

These 4 are hitting homeruns for me.

 

Pete

[option8 0]

Pete,

Thanks for telling us what is working for you.

 

Call FSBO ads- By far the most dependable method we all have.

 

I agree that this one is the most dependable AND the cheapest.

 

Keep us posted!

 

option8

[Mr Saint 0]

Pete,

 

Elaborate, if you will, on your newspaper ad...I know there are those on this board (myself included) that can't seem to find the 'correct' area in the paper to place the ad for the most hits.

 

Thanks

[puls1234 0]

My newspaper ad says the same thing my billboard says......

 

"We Buy Homes Above Market Price!"

 

That is such an intriguing statement people almost feel pulled to call to find out more.

 

Pete

[Doug Pretorius (ON) 9]

Pete, how do you convert them over to a CA? Obviously with a message like that they think YOU are going to buy the house.

[MichaelC 160]

If I may interject a moment here.....

Pete, I think Mr. Saint was curious as to where you place your newspaper ad. In other words, which section in the paper? And also are you talking about you major daily newspaper or one of the weekly Pennysaver types?

Pete, how do you convert them over to a CA? Obviously with a message like that they think YOU are going to buy the house.

Doug, that's the easy part. There are a few homeowners who will take exception to the fact that I am not personally buying their house today, all cash. But that's the exception and not the norm in my experience. Given a few minutes to explain what I can do and how I do it, most are eager to do a CA. Particularly if they have already tried the FSBO and Realtor methods already. The bottom line, I believe, is the bottom line. Explain how you can net the homeowner $10K or $25K more than they otherwise would receive and you have a captive audience.

[Guest Guest_Golflover]

I've found it rougher to get the people with the newspaper ads to talk to me or listen to me because there are tons, and i mean tons of we buy houses people in my town and by the time i've contacted them, one of the other investors have been there and tried that with them. Is there a smarter method of doing this for people that have already been contacted by the other investors using the same type of approach that we are doing?

[option8 0]

My response to this is that you have to build the rapport and trust to show them that you are on their side of the table, crafting a win/win solution to their property challenge.

 

I'll be willing to bet that most of the investors offering lease options are "adversarial" in their approach. By this, I mean they are trying to get a low price on a SLO and make the difference in their spread.

 

You, however, with your

Pro-Seller,

Out-of the-Box,

Wins for

Everyone

Rent-to-Own

 

 

Cooperative Assignment Strategy should be able to beat the pants off any investor you may find yourself going up against.

 

(I've even heard of investors making the seller PAY 5K to take their home on a SLO.)

 

Mr. Seller, I'm sure you've had lowball offers for a LP on your home. I can offer you TOP DOLLAR and TOP RENT and put the property on AUTOPILOT.

 

option8

[puls1234 0]

I am putting my "We Buy Homes Above Market Price" ad in the free weekly paper. Everyone and I mean everyone reads this paper. It costs me 20 dollars a week to run a 2x2 display ad. I keep it in their 52 weeks a year. It never comes out because I get good responses from it from homeowners and I am branding my message every week.

[mpine 0]

WOW! Impressive results with your ads in the free papers. I spent $180/wk for 6 weeks and got zero calls.

 

I think in NY/Long Island people see something is free and automatically disregard it as worthless.

 

Good to see that it really does work in some markets.

 

Mike

:ph34r:

[Mr Saint 0]

Pete,

 

I take it your ad is a graphic and not just a regular text ad eh? If so, that's a great idea. It probably stands out way more than all the other ads that look the same. I'm going to look into that.

 

Thanks

[Guest Guest]

I'm calling sellers. Unfortunately I'm having to call out of town and this along with my inexperience, is making it take longer. I believe if I could do what the manual says and physically go to where the seller is, I could have completed a deal by now, because I did get sellers who were interested. Even one who seemed really excited, but sold his home before I could get him to sign the contract.

 

Newcomers note: I bombed all over the place on that one, or it would not have taken so long. Also it was obvious that I was new, and I gave him too much info and that made him hesitate. He wanted to know if I had an actual buyer and I had to tell him maybe, but I'd also advertise. I think that was a mistake. I don't want to lie to them, but should have said something better.

 

Still, I'm getting experience. I've done the over 50 calls in a week. But I can see I need to do more. It is getting easier, and I am getting faster. I've been calling sellers for some time now, but at first it was like being in quicksand, getting myself to actually call. That surprised me. Now it's getting better.

 

I've emailed the FSBO who are only an hour and a half away by car, but got only one response and that was to tell me the home was sold. However, there were only about 8 or nine ads there.

 

I did have a good result on the side: I was able to refer the lady with the credit problems to a deal where she just learned Sunday she probably has funding to buy the home: that's a really great feeling.

 

The seller I referred her to didn't want to do a lp or option, but offered a referral fee.

 

MOST of the sellers are not interested. However, I was surprised at the numbers who might be.

 

Pete is right: I do complicate it. I do that because I am insecure and trying to get at least something. I am getting good at integrating offering a straight option when they say no to lp. But today I tried just calling for lp. Michael is right: it's really fast. No? Okay; thanks!

 

I figure I can always call back and offer the option.

 

I've sent offers for straight options to sellers who said they thought it was a great idea, but they haven't responded in the time limit (2 - 4 days) I put in the offer.

 

There are two people FSBO here in town, but they are highly overpriced already: asking 145k and 150k for homes that comp out at 98k-115k, with one only at 124k.

 

Another FSBO who said no at least now is an investor who probably will do it herself if she decides to do lp. But at least I asked her.

 

Hope that helps someone.

 

 

Alice

[grannyguru 0]

Whoops!

 

The above post was by Ms. Wordy herself: grannyguru.... Alice!

 

 

The short version is: the sellers are out there! Someone more experienced than I (or who has transportation!) would have pulled a deal by now... and I will do deals too!

[puls1234 0]

Exactly Mr. Saint. I have a jpg from the gentleman who designed my billboard so I use the same exact thing that is on my billboard in my 2x2 display ad in the weekly paper.

 

 

Pete

[<Steve> 82]

Hey Pete-

 

Is it possible to post it here so we can take a peek?

 

<S>