Posted by Chris Spohr on June 04, 1999 at 15:25:20:
Hi Joe,
It’s all in the buyers viewpoint. You are probably looking at it as an “investor” whereas the target buyer for this property is a retail buyer. If you are looking for a house to live in - do you want to work on it or move right into one that’s “Newly Remodeled”? 
Good observation and food for thought.
Thanks for keeping us thinking!
Have a great day,
Chris Spohr
Help with advertising a lease/purchase - Posted by Wayne
Posted by Wayne on June 04, 1999 at 08:45:38:
I have just finished a project on a home that I now want to offer for lease/purchase. I plan to plan an ad in the local paper and offer it for lease/purchase. This is the ad that I plan to place
AAA Newly remolded 3bd/rm, 2bath, home. (Location), (School Zone), (monthy rate), (phone #). Possible Lease/Purchase.
I would appreciate any advice on improving the ad and any that would help with closing the lease purchase deal.
Thanks
Wayne
Re: Help with advertising a lease/purchase - Posted by Richard M. Roop
Posted by Richard M. Roop on June 04, 1999 at 17:26:39:
RENT-TO-OWN: 3br 2ba 2car 1600sf. Pets OK. Rent credit. $147,500 FSBO Flexible 555-7777
Easiest home you’ll ever buy, No Bank Qualifying - Posted by Mark R in KCMO
Posted by Mark R in KCMO on June 04, 1999 at 14:55:03:
I’ll pay up to 6 months of your payments and no closing costs EVER! 3 bedroom 2 bath pretty home in great area. Call XXX-XXXX
Of course the 6 months of payment are credited at the end of the lease off of your “retail Price” so it doesn’t really cost you a penny.
Try this! - Posted by Chris Spohr
Posted by Chris Spohr on June 04, 1999 at 11:18:44:
Wayne,
Try the following ad - be prepared for a lot of calls. Typically 80-100 in the first week.
Rent to Own - Newly remodeled 3bed, 2bath, (Location), (phone)
Note: The more specifics like price, area, etc… that you put in the ad - the more you will target specific tenant/buyer qualifications. The more broad your ad is, the more calls you will get - this is better when you want to build a buyers list. (Highly recommended)
Prepare a one page script of pre-qualifying questions to ask every potential tenant/buyer. Tell everyone that meets your intiial criteria that you will show the house at (date/time) - tell them all the same time.
This will save you a lot of time and it creates a competetive situation between prospects.
Have your applications available at the showing. Tell them all that the first qualified person with the required option consideration gets its. In others words you want and application AND the money in your hands.
Hope this helps,
Chris Spohr
Re: Help with advertising a lease/purchase - Posted by Fred G.
Posted by Fred G. on June 04, 1999 at 11:09:31:
Hey! Why don’t you use Jim IL ad “Sometimes the ads are too good!” Read the followup from JIm. Sounds like a great ad to me!
Re: Easiest home you’ll ever buy, No Bank Qualifying - Posted by SandyFL
Posted by SandyFL on June 04, 1999 at 17:44:50:
So for I think Mark has written the “juiciest” ad.
As an investor, my flags would be up, but as a retail
buyer, it would get my attention more than the others
that I have read.
SandyFL
Maybe it’s just me . . . - Posted by JoeKaiser
Posted by JoeKaiser on June 04, 1999 at 14:25:33:
But I’ve never been keen on “remodeled” ads. That always sounds to me like someones got lots of dough invested, got it all prettied up and wants top dollar.
Of course, I’m looking for a bargain, but maybe this works when retailing. Anyone know?
Joe
Maybe it’s just me . . . - Posted by JoeKaiser
Posted by JoeKaiser on June 04, 1999 at 14:25:03:
But I’ve never been keen on “remodeled” ads. That always sounds to me like someones got lots of dough invested, had got it all prettied up and wants top dollar.
Of course, I’m looking for a bargain, but maybe this works when retailing. Anyone know?
Joe
Re: Help with advertising a lease/purchase - Posted by Jim IL
Posted by Jim IL on June 04, 1999 at 12:31:21:
Fred,
Thanks for the compliment.
Honestly, I like my ad for a couple od reasons.
First, it can be used for L/O’s and other “seller financing” techniques.
Secondly, it is not “property specific”. I run that ad and tell all my callers about the different homes available.
Saves BIG TIME on my advertising budget.
And, since it is unique, it is easy to remember.
Take care,
Jim IL
Re: Maybe it’s just me . . . - Posted by Carmen
Posted by Carmen on June 08, 1999 at 10:43:40:
Buyers want “their” homes to be perfect. As a realtor, I can’t tell you the number of times someone has walked into a home and said - “this would be such a nice home, if only the walls weren’t green” or “if only the refrigerator weren’t so ugly” or “this house is so dirty/messy! I don’t like it”.
Retail buyers want the prettiest home - one they won’t have to put any work into. Most have NO imagination (for goodness sake, what does a bucket of paint, a new fridge or a messy tenant have to do with the structure, location, or value of the home???) Amazing. And when you try to explain this to them, they look at you like you’re trying to rip them off! Even if the house is thousands under market - because of a little elbow grease.