Lost a deal, and my job… - Posted by Justin-IL
Posted by Justin-IL on February 18, 2000 at 22:11:34:
I’ve had a very unusual week. First, I ran out of time on a house I have under contract, and had to cancel it. I was trying to flip this house using owner financing, but we did not succeed…
If that wasn’t enough disappointment, the next day at work, I get fired. I was not at fault, and I’m going to contest it. In the meantime, I’ve got to do something quick to get some cash coming in. I know I can get a deal done within 30 days if I really hustle and launch an all-out marketing campaign. My previous efforts in marketing have always been half-hearted, and I never really did anything consistently. Also, whenever I’d have a potential deal in the works, I would “turn off the buying machine”. Never turn off the buying machine! I’ve heard that a couple of times but it did not really sink in until now.
I need help with developing a marketing game plan. My budget is extremely limited, and we cannot afford to run ads. I want to focus on lease option deals and flips using owner financing.
We plan on
-Drive neighborhoods, look for vacant houses and FSBOs.
-Attend FSBO open houses.
-Cold call FSBOs in the paper.
-Postcard mailouts to: FSBO and For Rent by Owner (Get telephone numbers from ads and use reverse directory to get address); Abandoned property owners; tired landlords (eviction files).
-We have 5 bandit signs left that we will put up. But we cannot afford any more right now.
-Flyers targeting situations where I could acquire on a lease/option. Post these flyers in supermarkets, etc.
-Hand out and leave business cards everywhere.
-Overhaul of web site to change format, and to explain lease options and help “sell” them.
What do you guys think? What other low cost things could I be doing? I am not letting failure be an option here, I’m going to make something happen.
We really wanted to make it to the convention this year, but things didn’t work out soon enough. And losing the job on top of everything, we just can’t afford it. Amanda and I are disappointed; we were really looking forward to seeing everyone there.
We appreciate any feedback you may have about our marketing plan. Are there any other things we should be doing?
Justin Lee and Amanda Schaible