This is just a primer on a few marketing methods that can get motivated sellers beating down your door. Let’s get right down to it:
1) Bandit Signs
Yes, those oh so beautiful signs that you probably see plastered all over your city (or maybe not if you’re lucky). There is a reason they are there. They work! We always went with the standard, “We Buy Houses,” yellow background and black writing. Our signs were in the shape of a house and had a local # that forwarded to a voice mail system. We found that the local # brought in more calls than having a toll free #.
2) Direct Mail
There are many different types of lists that you can mail to that could have your phone ringing off the hook. Patience is the key though! Sometimes it takes 7 or 8 “touches” with the list you’re mailing to in order to get an appreciable response rate. Here’s a few quick suggestions: out of state owners, expired listings, landlords, properties that have been transfered, etc. The important thing is to just pick a list and get started. The best marketing advice I could give would be to TEST, TEST, TEST! Do more of what works and change what isn’t.
3) “Driving for dollars”
Take a different way home from your norm. Look for houses that could be potential deals. You’ll know when you see them. Grass has grown up over the house. 10 soggy newspapers are in the driveway. Totally lacks curb appeal. Broken windows are almost a sure sign! Write these addresses down and look them up when you get home. Call if you want or add them to your direct mail program. Look for the correct mailing address for the property owner in the tax records so you can get your letter in their hands.
4) Estate Sales
Another great place to pick up great deals. Many times the heirs are left with something that is more of a headache than a blessing, and they just want to get rid of it ASAP! You can also negotiate some favorable financing often times in these situations because they’re just ready to sell it and any money coming in is gravy to them.
5) Internet Classified Sites
There are many Internet sites out there like Craigslist where you can post FOR FREE telling the world about your house buying services. We have done a few deals off of free websites on the Internet just by taking 5 minutes to put a post on their site. This is especially great for beginning real estate investors because the price is right!
Think of more ways to get deals pouring in and put them in the comment area! Let us know what’s working for you . . .