Posted by Ben (FL) on May 19, 2000 at 07:39:43:
What’s your web address?
Cash Cow Marketing - Posted by Robert(CA)
Posted by Robert(CA) on May 18, 2000 at 13:41:29:
As per Bill Bronchick’s fantastic “Cash Cow” course, I have (1)taken a house “subject to” and am (2)now advertising it (with signs and newspaper ads) as an owner financed sale.
Based on your experience, when a buyer calls, should I
A)say right upfront on my voicemail box message that a buyer will need $15K down and $1,350/month to buy the place (thus allowing buyers to self-screen themselves)??? Or,
B)get an application from them asking what is the most cash they come up with and what is max. monthly payment they can handle, and then see what works for me???
Re: Cash Cow Marketing - Posted by Robert(CA)
Posted by Robert(CA) on May 19, 2000 at 13:56:20:
Thank you all very much for your feedback! I’ll let you know how it goes!
I concur - Posted by William Bronchick
Posted by William Bronchick on May 18, 2000 at 21:50:30:
Unless your phone is ringing off the hook with unqualified buyers just “sell the sizzle” on the phone - no bank qualifying, ez closing, low down payment, establish a credit rating, etc.
If the phone is ringing TOO much, set a MINIMUM amount, such as “we are looking for the right buyer with at least $X to put down.”
Remember, the less the buyer has to put down, the more you can raise the interest rate, etc. Let me know when you’ve got it sold!
DON’T SAY DOLLAR AMOUNTS ON VOICE MAIL!! - Posted by gmay
Posted by gmay on May 18, 2000 at 21:24:16:
What happens if someone only has $10K today, but can come up with another $5K in 60 to 90 days. If you say you need $15K down they may hang up.
Come across flexible and reasonable and you will be able to sell your property quicker.
gmay
Re: Cash Cow Marketing - Posted by WilliamGA
Posted by WilliamGA on May 18, 2000 at 14:22:57:
Robert,
My experience with this type of deal led me to go ahead and let them know up front what I was asking for in terms of D/P and monthly pmt. If you are in anyway reasonable and the property is a good one, it won’t take long to sell.
In my situation, the buyer even gave me more cash down than I asked. He wanted his pmt just a little lower.
Listing the terms will really weed out the time wasters that you don’t want to talk to anyway, plus, if you haven’t sold it as fast as you wanted to, you can always lower the price later.
Good luck!
WilliamGA
Re: Cash Cow Marketing - Posted by dew
Posted by dew on May 18, 2000 at 16:09:38:
But do you want to weed everyone? Don’t you want names and numbers for future properties???
Re: Cash Cow Marketing - Posted by WilliamGA
Posted by WilliamGA on May 18, 2000 at 19:05:56:
dew,
I guess alot of it depends on how you have your system set up to handle the calls.I currently take all of them as I haven’t been able to find a service here that will do what I want done in terms of gathering information. Since I am handling all of them and based on past experience and how easy I find it to get a T/B for my properties, I really want to limit the calls I have to explain all the details to.
When I first got started, I felt like a buyers list would be a good thing to have. Now don’t get me wrong, I still think it is. It’s just that I have found it really easy to fill my properties and I now use other means such as a web site to get that buyers list.
Time on the phone is time away from finding other deals.
Good Luck!
WilliamGA
Re: Cash Cow Marketing - Posted by Ron-Va
Posted by Ron-Va on May 19, 2000 at 08:30:57:
OK you got my attention!! What website are you talking about where you can “get that buyers list” or is that top secret
Thanks in advance for your response, Ron