Dummy Ads

[Frank (OH) 0]

The board has been slow so I'd like to get some opinions. I was thinking about putting a dummy ad in the Sunday paper to start a buyers list and I have some questions.

 

1) Is it worth it or better to have a deal to start with?

2) Will I get alot of tire kickers?

3) How will I know who will be a serious buyer?

4) I work a 7AM to 5PM shift so how should I take all the calls without an answering service?

5) Should the ad say " Rent to own, low down and 50% rent credit" or something of the sort?

6) What questions should I ask my prospects? Where do you want to live? How much do you have as a down payment? When are you ready to move?

 

What has worked best for you guys and gals?

 

Thanks !!!!!

[JerseyJeff 0]

The board has been slow so I'd like to get some opinions. I was thinking about putting a dummy ad in the Sunday paper to start a buyers list and I have some questions.

 

1) Is it worth it or better to have a deal to start with?

2) Will I get alot of tire kickers?

3) How will I know who will be a serious buyer?

4) I work a 7AM to 5PM shift so how should I take all the calls without an answering service?

5) Should the ad say " Rent to own, low down and 50% rent credit" or something of the sort?

6) What questions should I ask my prospects? Where do you want to live? How much do you have as a down payment? When are you ready to move?

 

What has worked best for you guys and gals?

 

Thanks !!!!!

Frank,

 

1) If you've never closed a deal before (like me) I'd say you wait until you have a house lined up. Once you get a seller, the buyers will come.

 

2) I'm sure you'll get some

 

3) Unfortunately you won't until you get a house to offer them and ask for the money.

 

4) Let the voicemail get them and call back when you have time.

 

5) Sounds good to me.

 

6) You listed a bunch of good ones. Amount of rent they can pay?

 

Hope this helped.

 

Jeff

[Doug Pretorius (ON) 9]

Get a deal first. Why spend money on an ad when you have no prospect for making it back?

[happyardy 0]

Get a deal first. Why spend money on an ad when you have no prospect for making it back?

 

 

I read an article in which the author prefered to run an occasional ad on a regular basis to locate potential T/Bs and build his buyers list. According to him, the advantage to doing this was that as soon as he got a new property he could send a simultaenous fax &/or email to the prospects on his list.

- Ardy

[Adam King (MI) 1]

The board has been slow so I'd like to get some opinions. I was thinking about putting a dummy ad in the Sunday paper to start a buyers list and I have some questions.

 

1) Is it worth it or better to have a deal to start with?

2) Will I get alot of tire kickers?

3) How will I know who will be a serious buyer?

4) I work a 7AM to 5PM shift so how should I take all the calls without an answering service?

5) Should the ad say " Rent to own, low down and 50% rent credit" or something of the sort?

6) What questions should I ask my prospects? Where do you want to live? How much do you have as a down payment? When are you ready to move?

 

What has worked best for you guys and gals?

 

Thanks !!!!!

 

1. Sometimes if "you're slow too". Business wise that is...

2. Yes. No wait....YES!!!

3. Money

4. HELLLLLLL NOOOO!!!!!

5. Sure, try it.

6. Yes. You're almost acting like a Realtor. But my first question would be; How much money do you have to put down? My minimum is $5K

 

Using a tenant/buyer to get a CA is the best way to do a deal with ZERO money. And trust me, if you already have access to that $5K, you'll work hard to keep it.

 

What to do:

1. Call FSBO and see if they're willing to do a Lease Option at FMV (Full Market Value)

2. Tell them about your prospects

3. Explain to them (After your did your research on their credit etc) that you'll take principle and assign your interest for the money they put down. If you find a seller that wants some of it too, then that's up to you to give up a part of your share. My opinion? Try to negotiate as much as possible for you. Without you they have nothing. But don't forget, without them you don't have a deal.

Hope the helps,

Adam

[Doug Pretorius (ON) 9]

Ardy, that sounds good in theory, but unless you have a house forthcoming you're going to wear out those buyer's patience and you'll have to start all over again.

 

UNLESS of course you do as Adam suggests and collect their option money upfront. If you can do that it would be pretty sweet, I've never been able to get a buyer to do that though, so I just stick to selling houses I have.

[transactionsengineer 0]

Frank,

 

Be really careful with posting a dummy ad. One problem comes to mind, you may have heard of it, called false advertising. Some states have laws against such a practice and can punish you with a fine, imprisonment or both. It isn't worth it.

 

Daniel

[Craig 0]

One add that has worked great for me is.

 

RENT TO OWN

50% Rent Credit

3 BDM 1 BATH Mobile Home

Nice Community

Call 123-4567

 

First week I would get 4-10 calls a day

Second week dropped to half that.

 

 

The option fee is a kicker for Trailer Park Folks.

[Adam King (MI) 1]

Frank,

 

Be really careful with posting a dummy ad. One problem comes to mind, you may have heard of it, called false advertising. Some states have laws against such a practice and can punish you with a fine, imprisonment or both. It isn't worth it.

 

Daniel

 

Just for the record, you guys don't have to put that you have a house. You can just put rent to own opportunities, easy qualify, bruised credit okay etc. You don't have to lose sleep at night doing something that you don't think you should be doing. (I have never seen anyone nailed for false advertising, but anything's possible. And if it did, it would probably happen to someone in Canada! )

And another for record on false advertising how's this one. We called on an ad today that said they were asking $85K (For a pretty house in need of no work) but it was worth $175K!!!!!!!!!!!!!!!! HOLY DEAL!

I called and the %*@^! lady said; oh, we're asking $148K and will take no less.

So what the hell was the $85K ad in the paper all about?

Oh, that's what the starting bid on the auction was on Sunday.

What an arsehole. I didn't even talk about terms after that crap.

Adam