Finding A T/b A.s.a.p.

[JCannon 0]

Help! I have only three weeks left until my the lease begins on the house I have under contract.

 

I have

1. Posted signs at intersections (a couple of responses per week)

2. Posted on craigslist and other sites. (Only Craig's List has produced, and it continues to do so at about one response per day)

3. Ran an ad in the local paper (Big waste of money , $250 to be exact, I can't believe how much this paper, the biggest in AZ, charges for ads )

4. Talked with everyone I know and offered referral fees of $250.

5. Placed flyers at local shopping malls, received a call from a security guard, and set off car alarms, but no possible T/B's.

 

Directional signs are not allowed in the area and the homeowner can't have a sign in front of the house because of legal reasons.

 

I can't afford for this deal not to happen and just chalk it up to experience, although I have gained a lot of it.

 

I do have a good deal in place. The Net a T/B will owe if they decide to exercise thier option after a two year lease is at TODAY'S market value in an area where homes have appreciated 20 - 50+ percent per year over the last 2 years.

 

The house is only a 2 bed + Den, 2 Bath and that has hurt my chances a little. I will now only deal with homes that have at least three bedrooms.

 

What can I do short of dancing at intersections in a monkey suit holding a 'Rent To Own' sign? Which I WILL do if that is what it takes

 

I know that Lease Purchase Investing works and I can make a great living doing it. I wish I could focus on the big picture of my investing career but right now I'm not too concerned about that.

 

I thank you all for your help in trying to help me move this property and I still feel (at times) that this deal will happen, but the lease begins Feb 1st and I've had it under contract for over a month now.

 

Any other marketing ideas will be greatfully appreciated, but be warned, they will be used

[BEV! 0]

2. Posted on craigslist and other sites. (Only Craig's List has produced, and it continues to do so at about one response per day)

This is my BEST source! Keep trying this one frequently.

What can I do short of dancing at intersections in a monkey suit holding a 'Rent To Own' sign?   Which I WILL do if that is what it takes

JC, Is funny but I would recommend you trying it early to see what kinda response you get for reals. (I have to remeber this one and maybe even use it myself too)

Any other marketing ideas will be greatfully appreciated, but be warned, they will be used

JC, If you haven't already done so, (and even if you have ) get on all the search engines and search for anything relating to "Rentals Wanted in your area" or "Rentals Classifieds", "Wanted" is the key word... after you do that just call every phone number wanting a rental house closed enough to your town and tell them about what you have... spend a few hours making calls pronto every day.

If the numbers on your property are right then you're gonna move this puppy with no prob.

Go make those calls!

[JCannon 0]

Bev, a huge help and ecouragement as always. I will get it done. Thanks

[Doug Pretorius (ON) 9]

JC, you say you "only" have 3 weeks left, how long have you been marketing this place?

 

What EXACTLY is the LAW regarding directional signs in the area?

 

Here's an idea I picked up yesterday:

* Go through all your local real estate rags and the yellow pages, and grab email addresses for every agent and mortgage broker you can find.

* Then write up a "listing" with a picture, specs and terms of the house and send it to all those addresses, offering a referral fee/commission.

 

This is not considered spam since all those people are advertising their email addresses in order to get business.

 

A guy did this just 2 weeks ago for a house he was selling by auction, an agent brought a buyer and they've already gone to contract.

[<Steve> 82]

JCannon-

 

I am sure with all you marketing efforts you have been getting calls, so it must be the 2 bed room issue that is keeping t/b from l/o the house. You may need to adjust some numbers to make it easy for someone to move in.

 

You can do it in 3 weeks. Good luck.

<Steve>

[JCannon 0]

Thank you all. Great stuff.

 

JC, you say you "only" have 3 weeks left, how long have you been marketing this place?

 

Since December 8th. - Total responses since then? Probably around 25. Only 2 have shown real possibility but they are both now pretty much out of the picture

* Go through all your local real estate rags and the yellow pages, and grab email addresses for every agent and mortgage broker you can find.

* Then write up a "listing" with a picture, specs and terms of the house and send it to all those addresses, offering a referral fee/commission.

 

Oh Yeah! I like the possibilities of this one. What should I offer as a referral fee? $1000? Consider it done!

 

You may need to adjust some numbers to make it easy for someone to move in.

 

Recently, I have written in ALL my ads "prices and terms are negotiable".....we'll see how this helps. I do have room to negotiate.

 

You can do it in 3 weeks.  Good luck.

 

Thank you. I enjoy the challenge, I just wish there wasn't so much at stake.

 

On another note, all I can say is we have something special going here where people spend the time sharing their knowledge to help others without the need of a paycheck attached to it. May God bless you all (and help me get this deal done )

[Doug Pretorius (ON) 9]

Yeah, I'd offer $500-$1000 referral, and to the agents you could offer another 2% or so at closing (just add it to the price), or the agent and their buyer could work something out between themselves.

 

I have to say that 25 calls in a month is pretty slow. It would be a completely different story if you had 20 or 30 directional signs around. Are you SURE there's no way around that?

[BEV! 0]

On another note, all I can say is we have something special going here where people spend the time sharing their knowledge to help others without the need of a paycheck attached to it. May God bless you all (and help me get this deal done )

Thanks JC,

And while you're sending emails to the places Doug referred you to, it wouldn't hurt to call these people (if you haven't already done so recently), looking for Rent To Own Homes In Arizona

 

Who Knows?

[MichaelC 160]

JC, if the room is there, don't be hesitant to be flexible and adjust the terms. A little bit of something is better than a whole lot of nothing.

And, for what it's worth, I am very reluctant to take on two bedroom properties. With a few exceptions I have usually found them difficult to move. The marketplace for them is small, apparently.

[option8 0]

Here are a few ideas:

 

homeowner can't have a sign in front of the house because of legal reasons.

Try hanging a banner in the front window or in/on the door. Some may remember, i'm big on neon.

 

 

Can you get a list of all the major employers in the area? Send a fax or email to their HR or relo department asking them to post in the employee break room.

 

Do you have a military base in the area? They usually have a housing center.

 

Contact the pastors/clergy of the houses of worship in the area. Send them a flyer on your property. They generally know who is in need of housing. I have had good results finding TBs with this resource.

 

 

option8

[Brian - L.V. 0]

Can you get a list of all the major employers in the area? Send a fax or email to their HR or relo department asking them to post in the employee break room.

 

Do you have a military base in the area? They usually have a housing center.

 

Contact the pastors/clergy of the houses of worship in the area. Send them a flyer on your property. They generally know who is in need of housing. I have had good results finding TBs with this resource.

 

Those are some great ideas! How do you usually get their fax/email address? I looked in the phone book, and so far I don't see this information. Do you include anything about a referral fee ($250? $500?)

[option8 0]

Brian,

Trying searching for them on Hoovers online or Thomas Register. This is generally public information Or search for them on the internet. Make a phone call to the company and ask for HR. Ask for their fax number or go on an explain that you have a great home available. The person on the phone may know someone. I don't generally tell about the referral fee to these people.

 

Hope this helps

option8

[costa 0]

Don't forget to contact property management companies and offer your referral fee.

[<Steve> 82]

Hello Option8

 

Nice to see you are back! You and your marketing help have been missed on the board.

 

<Steve>

[BEV! 0]

Help!   I have only three weeks left until my the lease begins on the house I have under contract.

JC, if you do run out of time and not have a qualified TB, pay attention to what I did once when I was in the same situation as yours.. (my first deal )

 

- I called the homeowner one day prior to the starting lease date and told him that I had a TB pending and was doing heavy screening on him and at the same time I also added that the TB just gave the 30 days notice to his landlord...and told the homeowner that if anything was to change on this TB, I would call him back to update him, otherwise the TB will be moving in 30 days from now in which case the lease date will have to start on that date.....

 

I then continued to advertise this property until I really turned green I found a TB and placed him in this house in the 30 days period left I had to work with ....phewwww!! Heck, anything to get the deal close

 

Just a thought, and nothing else.