Needing some good answers to some general questions - Posted by Vic

Posted by Doug Pretorius on April 06, 2000 at 07:50:11:

Well I can’t say much about 1 or 2, however in regards to question 3:

Tell everyone you know and run into (coffee shop, bank, retail stores etc etc.) that you are looking to buy properties. These, of course, would naturally generate more SFR then multi-family, but it is one way to go. Get yourself a nice business card and hand them out wherever you go, you never know where you might find a deal, or who might bring it to you.

Needing some good answers to some general questions - Posted by Vic

Posted by Vic on April 05, 2000 at 23:02:09:

Hi everyone!

Since I discovered this site about 2 wks. ago, I’ve been extremely intrigued with it. There is a tremendous amt. of info. available here.

Through reading the posts & articles though, I’ve got some questions that I hope will solicit some good answers.

I’ve been doing a few deals with homes listed in the MLS. I’ve been looking for 2-4 unit rentals where the rents are currently low. My plan has been to buy them, (however I can), raise the rents, then either flip with owner financing, or keep. As I’m sure you’ll know buying listed homes does not produce the bargains that a forclosure would.
In other words the deals are OK, but nothing to write home about. So, what I’d like to do is start tracking down the forclosures & finding the motivated sellers who aren’t listed. That brings me to my questions.

I’ve noticed that many of you’ll are running ads in the newspaper, sending out postcards to out of town owners, & stuff like that.

  1. In regards to the ads that you’ll run in the newspaper - do you’ll run these ads everyday or just on Sunday? Do these ads bring in many calls? If you have 5 people all running the same ad, are there enough calls to go around? Lastly, exactly what do your ads say?

  2. In regards to sending out postcards - are you’ll sending out postcards only to out of town sellers? Are any of you’ll sending to local home owners or landlords? When you are sending postcards to out of town owners, are you relying strictly on the local tax rolls to find these people? If not, what source are you using to obtain this info.? What specifically, does your postcard say?

  3. What other methods do you’ll use to get sellers to call you’ll? Are any of you’ll going after any other kind of markets.

Thanks so much for all who respond.


Re: My answer - Posted by ken in sc

Posted by ken in sc on April 06, 2000 at 07:53:43:

I have an ad that runs every day in “Real Estate Wanted” section. Mine says “A quick sale of your house. Cash offers in 24-48 hours”. This costs me around $3,000/yr. I buy about 1 house per month off this ad and average 15K per house selling on ls/options. If you are READY to do business, run an ad. You will get calls. Yes, there are 6 other similar ads in my paper. I have never tried mailings to out of town owners. Good luck!