Posted by Mike on April 04, 2002 at 08:39:40:
Thanks for the reply
Has anyone had success with Bandit Signs? - Posted by Booker T
Posted by Booker T on April 02, 2002 at 09:58:59:
Has anyone had success with Bandit Signs?
Re: Has anyone had success with Bandit Signs? - Posted by Tim (CT)
Posted by Tim (CT) on April 02, 2002 at 12:11:58:
Every area is different, but where I live (CT), I put out 7 signs on Saturday and got a call from the local police on Monday ordering me to take them down.
Re: Has anyone had success with Bandit Signs? - Posted by Mike Daly (GA)
Posted by Mike Daly (GA) on April 02, 2002 at 11:32:21:
If you search the archives, you will find an enormous amount of information on this topic.
Re: Has anyone had success with Bandit Signs? - Posted by Anonymous
Posted by Anonymous on April 02, 2002 at 11:27:40:
Pshhhh… Don’t tell the sign-cops on me. I put just 7 out and my first call looks like a REAL WINNER of a L/O deal.
Secret Bandit Sign poster
Did you stop putting them up? - Posted by Booker T
Posted by Booker T on April 02, 2002 at 12:20:31:
Did you take them down?
Re: Did you stop putting them up? - Posted by Tim (CT)
Posted by Tim (CT) on April 02, 2002 at 12:27:44:
Well, for now I did. I’m going to be doing business in this town for a while and the last thing I want to do is p*ss off the local officials. So, I’m going to try and find different ways of putting them up. I do have some friends and relatives that live on busy roads, so I’m going to see if I can put up some signs in the front corner of their property. I shouldn’t get any flack about that because I will be getting permission from the owners to put them up. I think that’s going to be my next tactic.
To ya, with a slant - Posted by Kent C
Posted by Kent C on April 02, 2002 at 16:47:43:
How about…
Find the homes at the best corners you want (or as close as you can get). Take the time to personnally talk with the owners. Make a game. Each sign has a dash capital alphabet after the phone number for each sign. The caller will remember this, since it is associated with the phone number. Ask each caller their alpha on sign they read. Associate this with that persons “offer”.
Everytime a house is bought by this system, pay the person whose alpha sign brought them to you …say $500. And send a letter to ALL sign players, informing them that
“Sign “B” just recieved $500 this week.”
“I have one on contract for sign “Z” (no promises Bill but we’ll hope).”
“Sign Q’s deal fell thru but well hope for next time (sorry Julie, you almost had one).”
Make it a lottery and I bet they start going out of their way to encourage people to call in on “their” sign.
Kent C (never used a bandit…just my 2 cents)
Re: To ya, with a slant - Posted by Tim (CT)
Posted by Tim (CT) on April 03, 2002 at 07:13:29:
That’s a pretty interesting technique. Do you currently do this?
Re: To ya, with a slant - Posted by Kent C
Posted by Kent C on April 03, 2002 at 13:22:18:
Nope. But I get more houses than I can handle right now anyway. If I were to attempt bandit signs I think I would do this before littering up the counry side with 10,000 flyers at Walmart. I would adjust what was offered to the bandit signs “owner” proportionate to your market. If your deals make $10k per, $500 is a drop in the bucket. If your market is more like $2000 profit per house, $200 might be more in line.
Kent C (I just make it up as I go…grin)
Re: To ya, with a slant - Posted by Mike
Posted by Mike on April 03, 2002 at 16:52:14:
Whats your method to getting more houses than you can handle?
I’m in TN and would love to have the same problem Kent.
Thanks in advance,
Mike
My method - Posted by Kent C
Posted by Kent C on April 03, 2002 at 20:06:31:
I am not a flipper. Around here you could probably make $2k -$3k flipping per house. Or I can make $10k (after tax) rehabbing one house. But this is a small town of 40k. The bargains are not avail at a fast enough rate to find 5 houses per month at 30 cents on the dollar. But I can find at least one. I rehab. And that is all I can handle at this time, is one per month. I think I could probably find 2 houses per month really but dont have the time to do 2 at a time yet. I would have to form a second crew. Even to do one /mo REALLY means holding 3 at a time. At any given time, one is just finished awaiting refi and renting, one is midway on remodel and one is awaiting close. Two cycle (2 per mo) means handling 6. Considerably more cash resources needed. (I buy cash). But more importantly more time consuming. I may gear up for something in between.
No fancy contracts, no fancy methods. Lots of hard work. Many let downs and mistakes. I never break my word. I never pay a debt late. Thats about it. Its an honest living.
Kent C