Adam King (MI) 1 Report post Posted July 7, 2005 Hey gang,Been REAL busy lately with distractions. Wanted to see if anyone is interested in joining a little challenge (for help) with me? I just picked up 2 CAs today and want to see if I can move them within 7 days. (I'm looking to make $10K or more from them) If anyone is interested, I would love to hear your suggestions. I usually just put a sign in the front yard and an ad in the paper, but I would love to see what some of you are doing different.Thanks in advance,Adam Share this post Link to post Share on other sites
Jason (AL) 1 Report post Posted July 7, 2005 Well, I be dawg! If I didn't know ya or recognized that name, I'd think youwere just starting out, Adam. But this is what keeps one fresh....thinking like a.....child.....we call 'em newbies, yes? I just picked up 2 CAs today and want to see if I can move them within 7 days. (I'm looking to make $10K or more from them) Don't you already do this on a daily basis? 1. How 'bout calling up your mortgage broker and ask him/her if anyonehas been in to get a loan, but didn't qualify for a loan because of a "hiccup" on their credit/income/job tenure. Then attack! Could you give somemore detail about the houses....area...special "perks"..etc. etc.? I wanna help!!!!!! I feel the guerilla (not to be confused with the monkey) coming out in me. We'll be waiting...... Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted July 7, 2005 Jason, If I didn't know ya or recognized that name, I'd think youwere just starting out, Adam. Yeah well, you know about humility....er....maybe not. 1. How 'bout calling up your mortgage broker and ask him/her if anyonehas been in to get a loan, but didn't qualify for a loan because of a "hiccup" on their credit/income/job tenure. Then attack! Yeah, so "I" am a mortgage broker.....on to plan B. Seriously, I don't think that angle works very well unless you know a TON of people/other brokers. We'll give it thought though...really. I like the guerilla marketing idea though....sounds interesting. Could you give some more detail about the houses....area...special "perks"..etc. etc.? One is in Redford MI:3 bed 2 bath1200 square feetfull basement2 car GaragePoolFenced yard$1,100.00 a month$5K down$142K sales price The other is in White Lake MI(New build)2,500 square feet2 car garage4 bed3 bathFull basement$1,600.00 a month$7,000.00 down$275K sale priceListed with a Realtor....get this...she gave me the referral. Wants to really help the seller out. She'll move over if I can produce. Any more creative ideas folks?Adam Share this post Link to post Share on other sites
Jason (AL) 1 Report post Posted July 7, 2005 Yeah, so "I" am a mortgage broker Son of a gun!You have your hand in many ventures in this game, yes?How's that turned out for you as far as getting loans for clients?Or are you a mortgage broker for other reasons i.e. to get a "better angle" on things? Seriously, I don't think that angle works very well unless you know a TON of people/other brokers. Really?So you couldn't just dial one up and get some prospects that way? Me, personally, I'm seriously looking into ebay to move properties.A former member/president of my local club has done this successfully.He works a different angle though -- buys cheap, junkers for cash then sells owner financing on ebay. He auctions off the down payment...usually for what he paid for the property.A good way to do deals nationwide as opposed to your own backyard.Acutally, he bought a house in New York (never seen the house or been to NY for that matter)...sold the house a little while later.I'll look up the actual sale if anyone's interested. hmmmm.....thinking...... If all else fails, you could always try this. *Seriously Adam, with your contacts and experience if I were you, I'd look into it. Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted July 8, 2005 Jason, Really?So you couldn't just dial one up and get some prospects that way? Okay, no more BS. I'll give it a shot.Keep em' coming.AdamPS Just got back from the one property. It's $285K and we're going for $1,700.00 a month on a one year option with a $300.00 a month rent credit. FYI Share this post Link to post Share on other sites
MichaelC 160 Report post Posted July 8, 2005 A very visible Rent to Own sign on the lawn is always my first step when trying to move a property. Directional signs around the neighborhood also produce traffic. Flyers to area apartment complexes just might lure a tenant who wants to be a homeowner.Newspaper ads are still the most effective, but also the most costly. I think that's a budget related decision for most.One more thing: I'd definitely fatten up that $300 rent credit. That's not gonna put a jolt in anyone's shorts. Share this post Link to post Share on other sites
BEV! 0 Report post Posted July 8, 2005 How bout "Billboards, bandit signs, directional signs, flyers, ads etc" something like .... (live a li'l ) Share this post Link to post Share on other sites
Guest Amy Report post Posted July 8, 2005 I just picked up 2 CAs today and want to see if I can move them within 7 days. <{POST_SNAPBACK}> I just found this board and um...what does "CA" stand for? I'm guessing SFH - offering rent to own...am I close? Thanks. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted July 8, 2005 Well hello, Amy, and welcome to the funnest and best lil' real estate board west of Bulgaria. CA? Why, that's an abbreviation for Cooperative Assignment. If you do a search for that, you'll find several days worth of reading. Enjoy...and welcome aboard! Share this post Link to post Share on other sites
Jason (AL) 1 Report post Posted July 8, 2005 Man, Bev's doin' CAs on hotels now..... wait...... that's a house. No wonder she's cashing $15,000 checks! Me thinks you'd move these properties with your current marketing, along with a touch of aggressiveness. As far as getting creative finding RTO buyers, simple is best.However, I still like keeping things simple to get paid but liketo see whatever creative method will work with anything.I like doing things others don't (not homosexual stuff, though).But like I said, it's the simple stuff that gets you $paid$. Still thinking though........ Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted July 10, 2005 Thanks guys/gals,Put up the signs, put the ads in the paper and I'm going to give fliers a shot here. Running out of days since I signed them. Would like to have the fliers out by Tuesday.I'll keep ya'll posted,Adam Share this post Link to post Share on other sites
Jason (AL) 1 Report post Posted July 10, 2005 Adam, Just wondering.... 1. Where are the largest percentage of your CA leads coming from? 2. What's your average time with these deals.Meaning, from the time you sign with the seller from the time you're counting$dead presidents$ ? Thanks. Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted July 11, 2005 Jason, 1. Where are the largest percentage of your CA leads coming from? One was a referral from a Realtor and the other was a referral from another CA I did last year. 2. What's your average time with these deals.Meaning, from the time you sign with the seller from the time you're counting$dead presidents$? It totally depends on how hard I market it, or how easy it is "to" market. The ones that are in high traffic areas go FAST! The other ones take a lot of marketing. I still to this day have not sold one word of mouth. That is, they have all been from signs and news paper ads.Regards,Adam Share this post Link to post Share on other sites
Guest Guest_R/E Possibilities_* Report post Posted July 12, 2005 Try posting the house on Craigslist. This site is amazing and FREE. Share this post Link to post Share on other sites
Adam King (MI) 1 Report post Posted August 24, 2005 Yeah, remember this post? Finally got a deposit on one of them two days ago. Man, I said 7 days? Welcome to Hell, er Michigan.... Share this post Link to post Share on other sites
