marketing property

[mamasanta25 0]

How long does one market a property for without going broke? I mean, most of us starting out do not have mucho dinero, if you know what I mean. I know I have to get another sign to place near the property, but I honestly don't know where to put it where it won't get taken down. The sign shop suggested that the city probably had to mow the grass and took it down without a thought or a care. fSo, Michael, or anyone, is there any magic number of months that we should or should not hold on to a property. I can't believe that I have spent all of this money and nothing will come out of it.

[MichaelC 160]

Samantha, I want to be sure I have the information correct. The sign that was stolen was a permanent type sign, with a heavy steel H frame surrounding a sheet metal background. Is this right? Where exactly did you place it? Was it on the lawn directly in front of the property, or elsewhere?

As for how long it takes to successfully market and move a property, would that I could answer that one. I've sat on properties for many, many months. I've moved properties before I even had the chance to place an ad in the paper. Each situation is different. With a Cooperative Assignment you have the luxury of not concering yourself with any upcoming rent payments. And as long as you have the understanding and patience of the homeowner it is just a matter of time before you pop it.

Don't be surprised if the next people you speak with have $4K to put down instead of the imaginary $2K that my best girl Velma had, thus making it all worth the wait.

I can't believe that I have spent all of this money and nothing will come out of it.

Neither can I. Something, (that is, a tenant/buyer) will appear and this deal will be looked back upon as both an educational and a profitable experience.

[mamasanta25 0]

The sign that was stolen was a permanent type sign, with a heavy steel H frame surrounding a sheet metal background. Is this right?

 

Yes, that's correct.

 

Where exactly did you place it?

I placed it on the main road directly in front of the condominium complex entrance. There is only one entrance, and the seller's condo is located way in the back of the complex backing up to a prairie, actually. He doesn't want the sign directly in front of his condo, he says he doesn't want his nosey neighbors knowing what he is doing yet. The main road goes east/west, and my sign was VERY big and VERY noticeable, and two sided.

[MichaelC 160]

I wish I had known about the sign placement previously, Samantha. I would have told you that in this instance, since the sign was not directly on the property, to go with a cheap, plastic home made type to save money because signs that are not on the specific property do have a tendency to disappear.............as you now know.

In the future, the good signs go on the property, while the cheap ones can be scattered about the area. If a homeowner objects to a sign on the lawn, explain that it helps your marketing and the quickness with which you can move his/her property. If benefits the homeowner. If they are still opposed, you can't do much else except to respect their preferences and market in other ways.

[Summer 0]

Hi Samantha,

 

I can feel your frustration. Are the newspaper and the one heavy framed sign the only marketing you've done so far?

 

The newspaper is probably the most expensive marketing avenue.

Have you put fliers up at the big companies in your area? Most big companies have bulletin boards in their cafeteria or Human Resources dept. I would try at big companies, hospitals, universites, etc. Those people are working people who have money and would like your situation. Also, those type places have people relocating all the time who could benefit from a rent-to-own situation. You could even e-mail or fax a copy of your flyer to the HR director and ask them to post it saving some foot work on your part.

 

Also, talk to your friends. Have you told them you have this great condo and do they know of anyone they work with who might be interested. Word of mouth is usually the best referral. See Option 8's last post on plugging away. Many of her referrals came from a friend, acquaintance or neighbor.

 

How about some handmade signs?

 

This is a 3-day holiday weeked coming up, so hopefully you'll get lots of exposure in the paper this weekend.

Best of luck.

Summer

[mamasanta25 0]

Summer, most big companies in the area of the condo say that they don't "post those sorts of fliers". I am not having too much luck with that. But thanks for the ideas.