Marketing out of area houses

[DeeLight 8]

So reality bites----oh that's right it's reality bytes---I like the 1st spelling/meaning best today. I was writing in my biz journal keeping track of my path and realized that if I get a house 2 hrs away in a farm area I will have to travel 2HRS each way to put up signs to sell it; then go back for open houses. sheesh

 

Is anyone else doing properties ooa? How do you work it?

 

Another question. There are about 6 posts in my area CL that advertise owner finance or the possibility of a l/o. I'd gladly bring them a tenant/buyer if I can out market them. Would I set that up as a CA like we would with anyone else? There would have to be clause that said that they would also be able to continue to sell the house, right?

 

Thanks!

[Propertymagnets 7]

Hi Deelight,

I have been following you on the forum. As a newbie also some of questions you ask are the one's I am asking too! Regarding marketing to out of town Sellers & T/Bers, we have found a real estate agent that will help with paperwork and placing signs in the yard. His fee is first month's rent. The idea for this came from Brian Gibbons. We also have a relationship with a property management co. when we might need their services. Same for a title co., when we might need their service. Not only are we out of State we are in Canada.

[DeeLight 8]

Great ideas Charles! I hadn't thought of working with agents in the locality. Do you have to spend a lot of time getting a good one or two? I am going to call some local r.e. offices and find out who their resident newbie is; they're usually motivated.

 

The title co---how did you find one that you like. I have one a couple hours away---haven't worked with him yet but he is SUPER at working with investors---many testimonials.

 

Have you been happy with working ooa? biggest disadvantage??? very curious

 

Keep us informed as to how your journey is going ok Charles?

 

Thanks for the help.

[MichaelC 160]

If you're working a deal that is two hours away, hell, even an hour away, you can't be driving back and forth. You will need to find someone local to assist you. When working a deal on an out of area property, I always start with the homeowner as my first choice. Assuming they are still in the house they are usually willing to do. That's why we call this a Cooperative Assignment, I suppose. If they, too, are also out of the area, then ask what their plan was for showing the house. Neighbor, friend, relative? You will in all likelihood be required to split the option money, but so what? You're making a few grand that you otherwise wouldn't have had a chance to make if you weren't doing the deal. To be sure, there are obstacles to doing deals out of area, but none that can't be overcome.

[DeeLight 8]

ohhhh that's the answer I wanted to hear yay! (dancing a lil jig here) I didn't want to be driving all that way. Excellent ideas and very kind encouragement. You are my hero Michael!