OfflineI want to try to help anyone on their advertising that would want the advice. I always want to try and live by the words "honesty is the best policy". As Deans students, these should be words to live by. I am in favor of being creative in the advertising arena but beware, do not outright lie about this great deal that you have! Please understand that this technique has been played many, many, many and one more time MANY times. This however does work though. But people who respond to these ads do feel duped or tricked once they discover that you did this. Some are o.k. with the technique - but a growing number of people are not.
You might say "I am new to the program and have no property to advertise" to that I would respond - "Do you own your own home." "Place a creative ad on your home! Do not use the price or your address! Be creative as possible!" Then when someone accuses you of placing a fake ad you actually have a property to talk about, but they will not want this "deal" more than likely once you inform them of the price, which is 3 times the going rate! (Who would not sell their home for an unbelieveable price - if you won't then you can not use this technique!)
Remember we only wanted the ad to pull in someone -Once the ad pulls in someone that is interested and they do not want this "great deal" - tell them you are an investor in the area and know of other deals that they may be interested in. Ask the key question: "What are you looking for!" Get this information!
I hope that this post does help!
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I agree with, but to add to what you are talking about, if someone wants to build their buyers list then they can link up with another investor that has properties. Once you find an investor with multiple properties, pimp their properties out to build your buyers list. Best case scenario you might get a bite on the property and make a small fee for building your buyers list.
Real Estate Bird Dog
I do feel that ads is something a lot of us struggle with. Like the gost ads on a property we don't have control over. Thats a good ideal to place an ad on your owne home.
Steve and Veronica
Steve and Veronica's Journal.
http://www.deangraziosi.com/real-estate-forums/investing-journals/58073/...
http://www.deangraziosi.com/real-estate-forums/totally-fulfilled/72344/d...
I have put up a ghost ad in craigslist that say's 3bd/2bath Home,appliances included, 2 car garage on corner lot nice starter home and I put the amount I was selling for. In 2 day's I started getting calls and e-mails. I replied to the e-mail and said; That the home was sold but I'm working on similar deals, If you are intrested in any future homes that I aquired. You can e-mail me with your information and criteria... The gentleman e-mailed me back and said so you are a wholesaler. I was like dumb struck.I know his waiting for my reply..it just happen today aug.28.I just don't know what to say! Do I present myself as a wholesaler,a REI Please can you help me out here any info will be greatly appreciated.I'm trying to build my buyers list and he could be my first on my list. Thankyou for putting up this forum about Ads..Cecelia
I've noticed that most of the replies we get to ads & emails are wholesalers. Whether buying or selling they are trying to wholesale it to another wholesaler, which is fine so long as they don't get too greedy. It is possible they might have a retail end buyer on their buyers list, but in most cases they just want to do the same thing & lock up the property for 60 days
while they find a buyer.
My pet peeve is that they want to make 20K on a 50K house just by doing some paperwork, with no money or credit. And the funny thing is that a lot of them are in foreclosure themselves ... they should try doing a complete rehab, doing the work themselves & making 10K, that would put things into perspective.
First of, with regards to the Kuualoha's question...I am a firm believer in full disclosure and being completely up front. Just say "yea, I am". You would be surprised at the number of deals that have more than one wholesaler involved. That being said, be sure to keep control and make sure he has the ability to complete the deal. Just because he's a wholesaler doesn't exempt him from any requirements you would put on any other buyer (Proof of funds, EMD, etc.) If he can't meet those, he's not serious or not worth the time...Move on.
The next thing he'll try to do is get a piece of your action. I stand firm on this. If I have another wholesaler as a buyer, I state up front whaat I expec t to get from the deal, and tell him he can work from that. Too many wholesalers are making it more complicated by trying to get paid from both sides. For example, I lock up a property at 35,000 and offer it at 43,000. If a wholesaler wants to buy it, it's gonna be at 43,000, and he can get paid from his buyer. I never do longer than a 10 day inspection and a 14 day close.
Hope this helps