Advertising in a bad economy...What works?

[LitlMikey 0]

Hey All,

I'm relatively new to the Naked Investor, so I apologize if this is a repeat thread. I plan on investing in the somewhat near future, and I'm trying to nail down my game plan perfectly. I live in Michigan, which is where I plan to venture into investment. As you may or may not know, Michigan has an absolutely terrible economy right now.

This being said, do any of you have any slogans/sayings/ads you would use specifically in an area like this to really push home the sale to potential buyers? Buying the houses obviously won't be a problem, but Im afraid that re-selling them might be. Any insight/help you could give me on the subject is definately appreciated!

 

 

Mike

[MichaelC 160]

Mike, don't let the gloom-and-doomers, (ie, the media), tell you things are so bad that we are but weeks away from Armageddon. Yes, the Michigan economy and real estate market stinks. But so does the market here in Florida. So does someone else's in California, in Las Vegas, in NY, NJ, in MA and in MD. It's a common thread these days, and really nothing more than the usual real estate/economic cycle being played out.

That said, I suggest you opt to look at the glass as being half full, rather than half empty. There hasn't been a better time to be an investor or a buyer in at least 15 years! Take advantage of it. We've all heard the expression, You make your profit when you buy. That's never been more true than nowadays. The key is to buy right. And finding motivated sellers to buy right from isn't nearly the task it often is. Your timing is perfect, really, to get started as an investor.

OK, now that I have stepped away from the pulpit, let me take a shot at your question. . .

Marketing for buyers isn't any mystery. There really are only two reasons why a house doesn't sell: either it's priced too high, or no one knows it's for sale. The first part relates to what I said earlier: buy right. This will enable you to sell at a price that attracts buyers but still allows you room to profit.

Getting the word out requires persistence and aggressiveness these days. Start online with any number of free sites, a sign on the the lawn is a must, directional signs around the neighborhood, too. Use the tried and true buzzwords to make your phone ring: low down, no qual, Rent To Own, 50% rent credit, Must Sell, etc. Make yourself sound desperate, even if you aren't. And don't sit around if things aren't happening. Tweak your ads, change the terms, listen to the market. It always has the final word, Mike.

Oh, and by the way. Don't fret over being able to resell. One of the advantages of working lease options like we do. We can always bail if we are unable to sell as planned. Cooperative Assignments are your friend.

[LitlMikey 0]

Thanks for the quick response Michael! Always great to hear words of encouragement, and I'll definately remember your advice.

 

 

Mike