Re: Successful L/O Prospecting - Posted by leslie dear
Posted by leslie dear on April 11, 1999 at 04:58:28:
I agree with the other comments. I use “rent to own” ads and get calls on top of calls. (call waiting is frustrating at times). many of them are too low-income so a monthly price in the ad helps slow down the calls to a managable number . i find if you stock up on potential buyers they evaporate while you take weeks or months to find “their dream house”. the other route works better. get a master lease and then advertise like crazy. if you want to get fancy, take your newly aquired house on “winding way” and send mailers to all the renters in that subdivision, or school district. ( why stop at renters, home owners have family who want to live near them and are saving up to buy there, so mail them all). your local title company will help you get mailing labels free. to find renters they search for a site address with an absentee owner, and print sticky labels and also save it to a disk for me for future use. in my master lease i ask for permission to place a sign in the front yard, advertise in media, even list with agents, and test market for 60 days to find an approved tenant. if it’s a fsbo waiting to move they think the free marketing is for them and love it. if its a vacant rental, or the fsbo just bought another house its tough to get 60 days. if they bought the other house 8 months ago and had no usable offers on the old house they are glad to see you, and what’s another sixty days at this point. yes, and by the way, they say, here are the phone numbers of some people who wanted our house but couldn’t figure out how to make it work. case in point. a lady called me just yesterday, her neighbor found she is selling and asked if $4k dn and take over her payments would be ok. no way she said, i’m not giving up title to my house. she called me for help. i offer to get the lease option into place (with sublease or assignment) and split the $4 with her, she likes the idea a lot. they know the house, like the neighborhood, they live across the street with their parents. shouldn’t take me 2 hours to write it up and get signatures. it will work for you when you get busy at it. the more you do the more you find and the easier they say yes. they sense you know what you are doing, and you aren’t stressed over one deal. you show that you can decline if dosen’t seem right, or it will take too much, be it your money, or your time. call fsbos, call rental ads, and place ads “i buy houses” in fsbo section and “long term lease wanted” in rental section. good luck and just have fun practicing.
sorry i’m to tired to capitalize, i should be writing that offer instead of playing around here, but this site is great.