Finding Buyers? - Posted by Kylee

Posted by ron on March 18, 2006 at 14:27:07:

radio, tv, loan officers with non qualifying people, other realtors, bulletin boards at grocery stores and restaurants, telemarketing, section 8

Finding Buyers? - Posted by Kylee

Posted by Kylee on March 18, 2006 at 13:25:06:

WELL! Suddenly the Sacramento market slooooowwwwssss down, and even my lease/options are sitting. I have a great Realtor who puts up with me, and I am priced 10K below market. I feel I’ve made the deal as sweet as possible–I can do $1000 option, “rents” from 1200 to 1500 a month.

So, I’m doing normal marketing–flyers, classifieds, online, and I’ve flyered some apartment buildings/halfplex neighborhoods. Nothing. Can’t sell outright, not enuf room right now.

I’m fishing for any other marketing ideas other investors have used, trying to find potential buyers.

Thanks for your input.

Re: Finding Buyers? - Posted by Pat

Posted by Pat on March 19, 2006 at 19:41:52:

I run my ads in the local real estate section of the paper under “Houses for Rent”. I include the words “Rent to Own” and my phone rings off the hook. A full 10% will be potential buyers who can’t quite get a loan without a little help. I provide the help and as a result, have buyers waiting for my deals.

There is some work involved in handling the calls but we are able to weed out most non-qualifying prospects in a few minutes and refer the better ones to a mortgage broker friend who does further checking and determines the best programs for them.

I sell at market value but make seller concessions to help the buyer. It is understood that since I’m making the concessions, market value is in order. I feel this approach is better than merely selling below market as the discount is actually being used to our mutual benefit.

By the way, I’m in Maine where the market rarely get’s hot and is the first to slow down. If I can do it here, anyone can do it.