How to be a “Slime bag Mooch Killer” - Posted by Jim IL
Posted by Jim IL on February 09, 2000 at 16:10:06:
Try putting your ad in both the “For Rent” and “For sale” sections.
Many people who want to own but think they cannot, look in the for sale section and browse.
Also, since you are offering a L/O, which is really a way to get the person financed in a sense, you can include some verbage in the ad about financing.
I have used, “No BANKS NEEDED, Move in as you buy” as a header in my ads.
The calls got to be overwhelming.
Most people want to own a home but do not know “How” to do so if there credit is slightly scarred.
Once they call, tell em what you have available and what it takes to get in the home.
The buyers I deal with really do not care about the price, they want to know, “How much upfront and how much monthly”.
They think “paycheck to paycheck” and whether or not that will get them into a home.
When I talk to buyers, I do not say, “lease option”, I either say, “Rent to own”, or "Lease Purchase Option.
The buyers pick up on the words “own” and “purchase” and feel more comfortable.
And, the suggestion about placing your signs up on weekends is a good one.
In my area, the signs are a problem also, UNLESS I am selling a home. (my signs are used to get sellers mostly).
So, talk to your city, ask them what the deal is?
You are essentially doing a FSBO and we see those signs all over town with out any problems from the city.
The ordinance exempts “For sale” signs, and that sounds like what you have.
Also, try to put flyers and cards up everywhere that a renter may lurk.
Laundry-mats, grocery stores, video stores, and apartment complexes.
And, of course, car flyers in parking lots of apt. complexes work well too. (although you may want to check with the city laws and managers as well here, they may object or have a “rule” against it.
And, if that still does not work, try to lower your terms a bit. This is the slow season for RE, at least here anyway, so we are forced to reduce our terms to get quick occupancy.
Hope that helped,
P.S. Just do not “prey” on motivated buyers and become a “Slime ball Mooch Killer”. Õ¿Õ (sorry Ed, could resist, just in case you read this)