Marketing (Phoenix)
I recently started a RE Investment co with my business partner. We do pre-foreclosure homes, rehabs, rentals - etc. Any ideas for the best cheap marketing that creates solid results other than bandit signs and door knocking?
direct calling or mailing to the NOD filings.
are you planning on setting a reserve or approving he bids?
There were a few of these a couple of years ago. I think their problem was that there was no control over the sellers, therefore they were not able to enforce the auction rules or disputes.
I like the concept, but this inherent problem must be overcome and I see no practical solution.
Yes, I will set a reserve and rules of the auction will be distrubuted to every who comes to the open house to bid on the property. There will be a desposit required from the winning bidder (non-refundable) and given 15 days to get financing.
What was the reason it was condemmed in the first place?
Call the city. Our city has one lady that deals with only that, condemned properties.
Typically it will still have to pass a few other checklist points other than what caused it to become condemned in the first place, if i remember correctly.
An interesting article but one that would probably be better off in the marketing forumn and putting some of your own comment in as well would generate more interest I am sure..
[addsig]
Yes, a very interesting article. Thanks for posting it.
[addsig]
Hmm, I better get myself some more "handyman specials" to sell
I wonder what a study of "rent to own" and "owner finaning" would turn up?
They don’t say what the methodology was for their research, but to me, their conclusions don’t seem to be of much value at all.
If you look at the chart in the article, and the correlation between “Effect on List Price” and the “Effect on Selling Price,” you’ll see that the percentages are almost identical.
If a house is more “Beautiful” and can warrant a 5% higher listing price, then it makes sense it will also sell for 5% more. Or, if a house is a “Starter Home” and needs to be listed for 10% less, then it’s going to sell for 10% less.
Nobody is going to change their listing price because of the words being used. So obviously, the “Effect on Selling Price” they show is because of the actual listing price -- not the words to describe it.
Don’t get me wrong, after more than 25 years of doing marketing and advertising, I definitely know the value of good ad copy. I just think these folks missed the mark in their conclusions.
My 2¢