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Market - Marketing Shift


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#1 <Steve>

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Posted 19 September 2013 - 09:33 AM

With low to no real estate inventory, CraigsList (my market) for months has nothing but crap handy-man specials, some mobiles and full of investors and agents and no motivated sellers.

 

The only veins of nice houses in good areas are MLS listings.  So, marketing is ramping up with direct mail, drive-by flyers and may even need to get back to bandit signs.  The goal is to get in front of the sellers and locate those who are motivated.

 

What are you doing to market for those motivated sellers . . . ?


Just a kid living the dream


#2 MichaelC

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Posted 19 September 2013 - 09:45 AM

Steve, I'm surprised to hear your market is so bare.  What's driving it?  What about expanding into other areas?  I did a deal in Ohio last week.  Never was on site, didn't know the neighborhood, never met either party.  All done via email and phone.

You're right, though.  Marketing needs to be ramped up via mailings and bandit signs..



#3 <Steve>

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Posted 19 September 2013 - 10:03 AM

Congrats with the Ohio deal MC!  Expanding the marketing foot print is a good idea.  I think it is the economic conditions as the reason for the bear market here.  Selling a house is more of a necessity it seems rather that an emotional move.  Many are sitting tight and not selling, those that do are priced right and get sold.


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#4 <Steve>

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Posted 30 September 2013 - 03:36 PM

Checked out 'American Homes 4 Rent' again and it is unbelievable what they have cobbled up; sucked the market dry.  Aren't these hedge funds supposed to be backing off?


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#5 MichaelC

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Posted 30 September 2013 - 05:25 PM

Checked out 'American Homes 4 Rent' again and it is unbelievable what they have cobbled up; sucked the market dry.  Aren't these hedge funds supposed to be backing off?

That was the rumor.  But not to worry.  With the implosion of the federal govt, we should soon see another housing collapse and you'll be able to buy houses from these guys for .10 on the dollar. B)



#6 MichaelC

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Posted 04 October 2013 - 06:06 PM

Steve, I thought of you when I read this article:  http://moneymorning....-one-else-sees/



#7 <Steve>

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Posted 04 October 2013 - 09:20 PM

Great article MC and explains well the conditions of the current real estate market.  You would think that these big boy institutional investors would understand the short term bubble they have created going in (short squeeze).  Good investors have an exit strategy and it doesn’t seem like these guys do.

 

I read that American Homes 4 Rent (AH4R) is having big problems managing the properties they have purchased and complaints are high.  The BBB has given them a F rating.  In my area they are running ads for licensed leasing agents; but it seems they are not doing well paying those they hire.

 

I thought this article explained well the reasoning to purchase existing homes as compared to building new.  I always understood that new construction is a sign of a stronger economy.  This is evidence that this so called housing recovery if fake.

 

With no mortgages as these institutional investors are paying cash, when it crashes will they dump their inventory quickly?  Or, do they think they can be like the banks and control the market by holding inventory and selling below market value?  I know their cash is tied to Wall Street in whatever way.

 

I agree that a real estate recovery, and/or any growth lol, is tied to the economy and a strong job market.  Well, the economy is in the crapper, still.

 

This is a good read and I learned some stuff.  I just wish this would cycle through quickly as local inventory is dreadfully low, especially FSBO.


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#8 <Steve>

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Posted 06 October 2013 - 08:02 PM

I have a real estate agent calling leaving messages and emails.  I had mailed a seller a marketing post card, and the seller forwarded it to their agent.  With the agent being so persistent, I decided to call the agent back.  It was the typical how do I (the agent) get paid and wanted me to be specific with the numbers.  Having seen pics of the house and knowing the area it is around $900. to $950. per month rent.  Explaining that I need to pull comps etc. she asks if I could offer what American Homes 4 Rent can do $1,250.  LOL :glare: 


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#9 MichaelC

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Posted 07 October 2013 - 05:29 AM

American Homes 4 Rent. . .over promise, under deliver.  Hell of a business plan.


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#10 DanielSun

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Posted 10 October 2013 - 01:49 PM

I also have a lot of trouble finding good deals, may consider expanding into surrounding smaller city as well. Or I could just start doing bad deals, where the prices are super jacked up, heck I might just try that, since the houses are gone so fast these days in Ontario.

 

 

The average detached house in Toronto sells for 650k, and still it's hard to find a deal where i can make 10k.



#11 MichaelC

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Posted 10 October 2013 - 01:53 PM

What's driving the market up your way, Daniel?



#12 <Steve>

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Posted 11 October 2013 - 11:02 AM

Just heard a report that mortgage interest rates will be "Decreasing," could it be that the Fed knows what's coming?


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#13 MichaelC

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Posted 11 October 2013 - 12:04 PM

Either they're on to something, or it's time to buy more votes. <_<



#14 DanielSun

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Posted 17 October 2013 - 06:36 PM

The rental market here is pretty hot, if a 1500sq feet single family house is renting under $2000 it will be gone in a week.






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