NEED ADVICE!!!!
My partner and I incorporated in March to rehab homes, I had quit my job in Febuary. I am persuing this full time, but to no avail. We cannot find a home that meets our criteria of 40-60K pricetag with 10-15K in repairs. We've only made one offer on a VA foreclosure, but got out bid. We've been looking through all the websites, our realtor and our REI association. We have decided we need to start Direct Mail, but are unsure of how to get mailing lists. Will a firm be able to help us with this? I need some motivation and for someone to tell me "do this and you will find your house." I'm also afraid if we find a decent way to advertise, we won't be able to handle all the homes. HELP!!![ Edited by Ruca65 on Date 06/10/2003 ]
for mailing lists try contact local title companies, i was able to find one in my area that would send me info for free (in turn for my business of course)....as far as advertising goes, i wouldn't worry about having too many deals, a ton of people would love that problem so if you do come across a lot of deals, wholesale them to other investors, for rehabbing trying placing an "I buy fixer uppers) type ad, send out mailing to vacant homowners (absentee homeowners) and try to see what other rehabbers in your area are doing and go from there
What kind of response do you get from your title list mailings.How do I find a absentee owners list?
Thanks for the advice.
Ruca65,
The top three advertising methonds are news papers, direct mail, and tv. So take out ads, and DO direct mail. As for T.V. I don't do it b/c of the cost. Make your ads a WIDE funnel open to all types of situations. As far as the list in your area...sorry just can't help you there. I subscribe to a data service for foreclosures which cost some money.
Cheers.
Hi Ruca65,
I didn't find success until I decided to FOCUS on a few specific areas and specialize in them. This works a lot better than a shotgun approach mailing. The way I do things takes a little more work, but it gets the deals that I am looking for. So decide what you want to specialize in: Preforclosures, Probate Houses, REO's, Deliquent Property taxes, etc. Pick out 2 or 3, and then become the very best at it.
If you need a way to find owners of vacant houses, check out http://www.findtheseller.com/. I use them.
Best of Success!
BAMZ