Having trouble finding buyers.. - Posted by J.C.

Posted by DaveH on February 21, 2002 at 11:40:53:

I found it…
DaveH

Having trouble finding buyers… - Posted by J.C.

Posted by J.C. on February 20, 2002 at 21:35:18:

Hi folks,

I’ve only been doing REI for a short while, but I continue to have the same “challenge”. I get the houses rather easily, but we have a difficult time finding T/B ers. The Sale Price/Rent is within market rates.

We’re taking a house Subject 2 on Friday. The Sellers are behind (2) months in mortgage payments (approx. $2,200) and they have decided not to make up the payments. We’ve placed ads in the newspapers and, so far, we haven’t had any success. I’m getting a little concerned because I don’t want to have our business reputation tarnished if the house goes into foreclosure because we cannot secure a T/B’er.

Does anyone have any ideas as to how to get buyers quickly??
Any help would be greatly appreciated.

Thank you,

J.C.

Not here - Posted by Jim FL

Posted by Jim FL on February 20, 2002 at 22:53:50:

J.C.,
BLAST the area with marketing materials about the house.
Make them LOUD!!
Signs in the yard, flyers in the yard for people to “Take one”, flyers in the window of the house.
Directional signs in the area leading to the house, at major intersections.
Flyers at ALL the major stores in the area, like grocery stores, and department/discount stores, laundry mats.
(WalMart is GREAT, I filled my last 5 houses from signs/flyers posted at the local Walmart.)
Bandit signs.
I used some blank corroplast signs that I hand printed with large permanent marker, and placed about 10 of them around town about the house.
They said something like this;
RENT TO OWN
BAD CREDIT OKAY
Nice 3 bed/2 bath
$x,xxx MOVES YOU IN!!
$x,xxx/month
xxx-xxx-xxxx

I usually do not mention the amount I’m seeking upfront on my marketing, UNLESS I need to move a house FAST!
In your case, it would seem that you need to, so go ahead and do it.

Give this a try for a week or two, and if the results are still not satisfactory, then try more of it, but change the headline on your marketing.
Something like;
$x,xxx and TAKE OVER PAYMENTS!
No Banks Needed!
Rent to own!
ALL CREDIT ACCEPTED
3 bed/2 bath
$x,xxx/month
xxx-xxx-xxxx

Also, get on your computer and place some FREE ads on any FREE FSBO sites you can find.
You may also want to contact local mortgage brokers and tell them about the house.
Inform them that you are able to place people in the house that cannot get a loan now, but when they can, you’ll send them back to the broker for a loan.
Try contacting relocation companies in the area, maybe some local RE agents/brokers, rental agencies.
Post your flyers at car title loan offices, short terms credit places, like beneficial bank etc.
Check out the local free, or cheap weekly ad papers, like shoppers, penny savers, green sheets, trading times.
You may even offer the house for $3k PLUS anything of value? (I did this once and got a nice fishing boat with trailer that we sold for a few thousand a month or so later. Heck, take a car, jewelry whatever you can sell, but only AFTER they have given you enough to cover the arrears.)
Make sure there is a picture of the house on your flyers, and make them in color if you can. I like to use white paper, red and blue text, and a color photo of the house in the center.
Sometimes I’ll do something different with flyers as well…
I just did a run of flyers that were VERY obnoxious, bright orange, saying;
"TAX REFUND??
Use it to buy a house!
Bad Credit okay!
Rent to own
3 bed/2 bth
$x,xxx/month
xxx-xxx-xxxx

We got a TON of calls from those.

I also hired some local kids to place flyers on cars at the Walmart and K-mart store. (You can do this yourself as well, it only takes an afternoon to cover a few stores, and the walking never hurt me.)
Sure, there were a few not-so-happy callers, but we got buyer from this.
Bottom line, it takes HIGH EFFORT to move a house fast sometimes.
Just get the word out about the house, and STICK with it.
Check your signs and flyers regularly, and make sure they are still up. Add more everytime you are in the area, and replace the ones that go M.I.A.

One other thing I’ve done lately, when ever I go shopping, or, at least, when ever my wife goes, we place a few flyers under the windshield wipers on our car, and tape a few to the inside window of the car for the houses for sale.
If they are BRIGHT, people will see them and read them.
The ones I placed under my wipers were orange and had a headline of “HEY YOU!! TAKE ONE!!” (They were always gone when we returned to the car.)

One other thing I just thought of. I also have some of those multi colored plastic flag ropes, like you see at used car lots. I hand those in the yard of the house, drawing attention to it. I string them between the sign and the front of the house. This gets people to look. Also, make your sign in the yard EASY to read.
Maybe surf on over to banditsigns.com and order one that says, “RENT TO OWN, BAD CREDIT OKAY, XXX-XXX-XXXX” in a bright color.
I have these and they work GREAT!
Much better than the plain old FSBO signs with my handwritten “Rent to own” in marker at the top.
My directionals even say, “RENT TO OWN” with the red arrow like others, with the blank white space for adress or other info. (Got those at banditsigns.com as well.)

You can do it!!

Go get em!
Jim FL

P.S. Does any of this sound remotely familiar?

The Marketing Master! - Posted by Mike (IN)

Posted by Mike (IN) on February 21, 2002 at 08:03:15:

Hey Jim

I just wanted to let you know that I learn a lot from your posts and appreciate your sharing of knowledge!

I made some bandit signs exactly the way you explained (the cardstock from Walmart, contractor stakes, & report covers) and I placed about 20 of them out last week. I have received 3 good prospects already! Nice, new homes too! They are perfect “subject to” candidates!

Now I’ll just increase the number of signs!

Regards!

Mike (IN)

Re: Not here - Posted by JohnBoy

Posted by JohnBoy on February 21, 2002 at 01:18:41:

“HEY YOU!! TAKE ONE!!”

ROTFLMAO!!!

I love it!

Re: Not here - Posted by Heidi W

Posted by Heidi W on February 21, 2002 at 24:38:14:

Jim - that was fabulous. You should write a book! I’m printing out this post and putting it in my manual of BEST IDEAS under finding tenant buyers - THANKS!!!

Re: The Marketing Master! - Posted by jay phx

Posted by jay phx on February 21, 2002 at 10:44:24:

Never mind, found it right above your post!! Sorry to bother you.

Jay

Re: The Marketing Master! - Posted by jay phx

Posted by jay phx on February 21, 2002 at 10:41:46:

Hi Mike,
Could you point me to the post where it was explained how to make the bandit signs? Thx.

Jay PHX

Re: The Marketing Master! - Posted by DaveH

Posted by DaveH on February 21, 2002 at 11:35:32:

I’m also trying to find the post that shows you how to make sings.
DaveH