Posted by J. David on September 07, 2005 at 08:52:59:
Wow-thanks for the insightful post there Drew. I indeed have read the archives-all the way back to 2004 before I quit. Over time, people’s opinions change-what once worked might not now, and what once didn’t work might work now. I see “Jack the Ripper” is still firm in his stance.
Posted by J. David on September 06, 2005 at 09:54:42:
I read the archives for about an hour and a half on bandit signs. It seems that they give great results but can also give great headaches. For a newbie just starting out, would you recommend doing bandit signs? TIA.
It’s easy, inexpensive and part of the learning curve.
Yeah, Some people will say that the signs are surely from newbies. - whoa! you are a newbie. What is the worst that could happen? Get some calls, experience talking with potential sellers, gaining confidence, learning what type of people and what type of deals the signs draw in, ultimately getting a deal!
I wouldn’t recommend Bandit Signs to anyone… they are costly, ugly and hardly the most effective…
For $40 you can go get 2 magnetic signs for your car advertising you buy houses and your phone number… 1 time cost…
Spend $30 on an add in your pennysaver instead of $150 on signs that are going to get you calls from code enforcement… and yes, depending on where you live, YOU WILL get called by them… not only that… but those guys who enforce the no sign laws are sometimes the same guys who YOU have to deal with to get your permits and inspections done…
Starting off on the wrong foot is foolishness.
Few if ANY serious investors in my area routinely use signs… generally its newbies who just got out of some seminar, and the number is disconnected within a few weeks, but the signs stay up polluting the neighborhoods for months.
You want the phone to ring? Use the bandit signs.
Why do real estate agents, political canidates, and large retail stores use them, THEY WORK.
Enough said
Posted by David Alexander on September 06, 2005 at 18:21:51:
Spend $30 a week to run ads and deal with your competitors… day in day out… to go to houses where another 7 investors are lined up… to buy the same house… “No Thanks”
Car Magnetics are one of the biggest bangs for the buck… but, you can’t expect to buy a house each and every month from them…
By the way… I’ve actaully bought houses from code enforcement that have seen my banditsigns…
Your results may very…
But, it’s the simplest lest expensive to get leads and calls coming in…
Sorry, but rarely is that the case for me. I’ve never run into a competetor lined up for a property that has called on my ad and I have prescreened them and gone to their house. Not once.
Your market may vary, but my market is made up of lots of tiny municipalities, and they all have their own code enforcers and they WILL indeed go after you… and often its the same guy you have to deal with for permits and inspections…
Bandit Signs are the utmost sign of complete amateur at least where I am. They aren’t the best use of your time or money to drive you leads.
They are a great way to make the folks who manufacture and sell signs money… but not the best way to buy properties.