Best Way To Market Properties.
Locating motivated sellers seems to be the hardest thing about investing in real estate. To help myself and other investors, both veteran and newbie, I have a few questions about marketing.
What are the best ways to market to 1-4 family properties in low-income areas?
What are the best ways to market 1-2 family properties in the suburbs?
I would like to hear how well people are doing and their response rates. Please be as specific as you can.
Hello,
I'm not sure how long you have been on the site, but if you look within the posts here, if you alredy haven't and check the archives here, I believe you will find answers to many of your questions. As far as targeting the markets for multi-family units, one approach is, you will need to first locate them and then approach the current owners with your offer to relieve them of the burdens of the units. Another is to advertise that you are willing to buy multi-family www.units.I am sure you will find many forms of approaches in here. Good luck and holler if you need help. There are many helpful people here.
Why don't you hook-up with a title company to and get the list of all absentee owners for multi-family units in
the area you are interested in. This will
give you access to who the owners are.
You could also send letters monthly to real-estate agents, property management companies, etc....
I think you are on the right track. One
tactic I employ is purchasing multi-family units with low rents from absentee owners. Then I go in, do a rehab, raise the rents and benefit from the immediate cash-flow and appreciation.
Best Riches,
Jeffrey Adam
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Hi bmamich,
Those are some good thoughts above. Another thought is to go to your local Tax Accessors office. They generally keep all properties coded so that they keep them apart. In my area the are broken down into, Single Family Houses, Duplexes, 3-8 Units, 9-25 Units, and 25+ units. You can buy the list of names and addresses of where the taxes are sent (generally the owner), and market to them via a letter or postcard. Pick out the category that you are most interested in .
Best of Success!
BAMZ
Thanks everyone for yor help. Your comments and suggestions are greatly appreciated. I have already started reading the other posts in the marketing forum.
I currently have a software package where I get monthly CD updates of the county records. So I can look up owners of anything, search by out of state owners, etc. I have been making lists.
I just don't know where to begin. Should I use billboards, postcards, bandit signs, etc.? What should they say?
I guess I'm looking for stats. X postcards mailed out in city B every three weeks generated a response of n.
I just want to model someone who is getting certain results.
Nice to meet you Mr B. Mamic
I do not believe that finding out what works on Manhattan, NY would be applicable to what works in Syracuse, NJ or in Bedford, OH so the first thing you should probably do is join the local REI club or CREI association and then bit by bit work that learning curve up and down... Another good way to find properties is your local probate or divorce court ... I love buying properties from freshly divorced women. They often make a quiet motivated seller....
There are a couple of real estate clubs in Ohio, you should go there and see what thry have to offer. Ohio is a goldmine for real estate especially if you have cash. Financing these properties can be difficult in some areas due to the recent number of foreclosures, a number of major banks have pulled out. Cleveland is limited to financing. So if you are new you should get with some people who know what is going on over there. There is a meeting in columbus that I went to in Oct. I really learned a lot.
Good Luck
Lori
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