Here's the deal - Posted by Jay

Posted by Vince L on January 27, 1999 at 18:14:08:

Please let us know what you say in your ad.
Vince L

Here’s the deal - Posted by Jay

Posted by Jay on January 27, 1999 at 10:29:07:

I have found this fixer upper house that appraises for
50k once the work is done. My terms with the seller is
a 1yr lease purchase for 29k, $650 down with a month until
my first payment of $325/mo with $50 credited to the
purchase price. The house needs about 5k of repair work,
and I’m thinking either to fix it up or assign my contract.
I want to test the market and see if any investors or
tenant/buyers are interested. I would like any suggestions
on a test ad that would generate good calls.

Re: Here’s the deal - Posted by Jacob

Posted by Jacob on January 27, 1999 at 11:14:23:

Don’t spend the money on an ad. Just go through the newspaper and start calling the “I buy houses” ads. You will find that those are placed either by actual principal investors, or “bird-dogs” that flip properties to those investors. Even if you don’t get any actual interest in this particular property, you will make many invaluable contacts.

Or if profit is an issue… - Posted by MichaelR (NoVA)

Posted by MichaelR (NoVA) on January 27, 1999 at 11:40:40:

You may want to run that test ad anyway. I have one in my local paper that is generating over 50 calls per week. (I only run it on Sunday.)

The “I Buy Houses” ads are people looking for a great deal.

Through the teaser ad I have out, I’ve located handyman-types who just want an OK deal where they can put their skills to use on a home they want to live in.

Prequalify them through a mortgage broker and you pull in some additional $$$.

Throw it all together, and the difference is pretty significant money-wise.

There is also an article somewhere - or maybe it was a post - by Joe Kaiser on the “I Buy Houses” subject. I’m not sure whether it was here or on his board, though.

Just my opinion.