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#1 DeeLight

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Posted 15 August 2012 - 05:28 PM

Ok in the file of "being a chicken going into 1st deal" do you ever run a tester CL ad. Something like:

RENT TO OWN
Poor Credit OK
Hurry NOW!!

The best deal for miles around!! Lovely 1996 3&2 manufactured home on 2 acres in beautiful peaceful country setting and close to all conveniences. Special features are, freshly painted, beautifully maintained, a sunken tub and an above ground pool.

All input appreciated. I'd love to hit the ground running when they send the signed docs. Plus it's nice to have a buyers pool in diff areas. There are several other long listeds in the area too ;)

#2 MichaelC

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Posted 16 August 2012 - 04:58 AM

Absolutely, Dee. Dummy ads are a good method of testing out the local market, or a particular property. At the very least it will get you a few names of prospective tenant/buyers to keep in a database for future deals. So, yeah, run an ad or three, embellish it, and let's see what your baited trap attracts.
Keys words and phrases:
Rent to Own, 50% rent credit (or whatever the % is)
Low down
No bank qualifying
Stop renting, start owning
Etc. . .

#3 DeeLight

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Posted 16 August 2012 - 09:32 AM

YAY, thanks Michael. I'll keep everyone updated on how it's working.

#4 DeeLight

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Posted 18 August 2012 - 08:47 PM

I got a couple responses to the teaser/tester ad and they tell me they have xx to put down. They want to see the picks but----rats---i don't have a house under contract.

What do you do??

:blush:

#5 MichaelC

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Posted 19 August 2012 - 08:32 AM

Respond by telling the individuals that the house they are inquiring about has already been taken. Create a sense of urgency with these deals. Explain that putting together these Rent-To-Own deals is what you do, and if they are interested in knowing about other properties that you get, have them fill out a T/B profile and start a database of prospects.

#6 DeeLight

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Posted 19 August 2012 - 11:14 AM

oh DUH! That is so simple and I have heard about doing that. When I get in the middle of things I kinda get a bit flustered :blush: Thanks!!

#7 kfinkelstein

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Posted 22 September 2012 - 04:19 PM

This is illegal, I believe, at least in Florida. Advertisements for real property must be current and materially accurate

#8 DeeLight

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Posted 23 September 2012 - 07:48 PM

It's probably illegal in most places. But I am wondering who would be coming after us and how would they know it's not a real listing? I think it's a great way to find people we can help

#9 kfinkelstein

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Posted 24 September 2012 - 06:42 PM

agreed, just making sure the worst case is known.

#10 Lynn (FL)

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Posted 26 September 2012 - 08:26 AM

Can you advertise your own house, but then "change your mind" as the calls come in?

Lynn (FL)

#11 ErikOk

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Posted 26 September 2012 - 09:41 AM

DISCLAIMER: "Information deemed Reliable but not Guaranteed."

This is illegal, I believe, at least in Florida. Advertisements for real property must be current and materially accurate



#12 Max0r

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Posted 09 February 2015 - 07:29 AM

What do you think of just being honest and saying you're always looking for properties to make available for rent to own, and sellers are much more likely to be interested in these terms when you have buyers in the area who are ready to go. "Help me help you find a house."

 

I'm really really bad at not shooting straight. It's really hard for me to do. And the next thing I'm going to be doing soon is concentrating on building buyers lists in different areas. Why? Because when I talk to someone on the phone I want to say I have a bunch of buyers in their area just looking for a rent to own home to call their own.

 

It's like the chicken and the egg. You tell the buyers you have properties they're more interested. You tell the seller you have tenant-buyers they're more interested. Have neither one, you're an asshole



#13 MichaelC

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Posted 09 February 2015 - 10:54 AM

You tell the buyers you have properties they're more interested. You tell the seller you have tenant-buyers they're more interested.

 

Exactly.  The real estate police aren't hiding in our closets.






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