Re: Cut the B.S. - Posted by Glen SoCal
Posted by Glen SoCal on March 15, 2004 at 23:19:36:
Jim FL–
How large is your marketing area? I realize that your population density may be more or less than other places, but I would like to get some idea of how wide an area you market to…posting signs, newspaper ads, etc. Can you answer in square miles, or maybe miles radius?
If you don’t mind one more question; what do you find to be your most effective advertising method?
Thanks, Glen
Re: Cut the B.S. - Posted by john
Posted by john on March 15, 2004 at 21:24:46:
Thanks Jim. Very good post.
I am definately heading down the road of more aggressive marketing and will enjoy the ride!
Re: Cut the B.S AND the marketing . . . - Posted by Joe Kaiser
Posted by Joe Kaiser on March 21, 2004 at 10:55:42:
Have you checked the catalog here?
I wrote an entire course about this very thing, Totally Dominate Your
Foreclosure Marketplace. It’s packed with ideas about how to track
down homeowners in foreclosure before anyone else has a clue about
the default.
Joe
Re: Cut the B.S. - Posted by del-ohio
Posted by del-ohio on March 15, 2004 at 21:49:43:
Our approach is different then most people on CRE it seems, we have no advertising budget and the only phone calls we have to juggle are from a couple realtors who are finally starting to bring us a deal every once in a while and the occassional subcontractor who spotted something and wants to get $500 that we pay for a lead resulting in a sale.
Our basic strategy is minor/to moderate rehab.
How we find the deals, 90% are MLS. We pick up the local HOMES magazine circle all the properties that need rehab or have other indicators of distressed owners or distressed property. Pick the top 5-6, call the realtor for listing sheets and any other information. Get comps, then drve the area, look at comps tour the houses, in one afternoon we can crunch the numbers make 3-4 offers and almost always walk away with a deal within a couple days.
We do the same thing with Bank Reos, call a realtor ask him/her to show us the 5-6 Reos that she believes have the best potential for making 20,000. Gop look at all the properties in one aftenonno, and write offers.
We did this last week and wrote offers on four. Two accepted, one still looks somewhat promising one the banks counter offer only dropped by 1,000. We didnt bother to counter.
Most of our deals are purchased 20,000 to 60,000, occassionaly over 100,000. Our objective is to make at least 20,000 per deal and finish the project in 30 days and put it back on the market.
This strategy has worked for us in six different cities in North East Ohio.
Del-Ohio
Re: Cut the B.S. - Posted by Jim FL
Posted by Jim FL on March 17, 2004 at 22:10:44:
Glen,
Hate to admit it, but I have no idea of a mile radius for my marketing area.
We have perhaps 75k population in the main city here, with several smaller ones nearby in the same county.
I cover them all with some things, and target the larger city with most things.
Probably a 30-40 square/mile radius, guessing?
I just go where the people go, and leave my message behind.
Works for me, and has for years, in a few different markets.
By the way, signs are the best, but it helps to have several things going.
Do NOT rely on just one method, and be persistent with all.
Take care,
Jim FL
I’d be happy to write a… - Posted by Tillman (DE)
Posted by Tillman (DE) on March 21, 2004 at 17:34:43:
review on that course Joe, if you’d like to send me a ‘desk copy’ 
If not, I guess I’ll have to fork over the dough a get it, since I’m focusing my marketing efforts on obtaining preforeclosure properties.
Re: Cut the B.S. - Posted by baley
Posted by baley on March 16, 2004 at 09:48:21:
Are you using hard money when buying these?
Re: Cut the B.S. - Posted by Barry (GA)
Posted by Barry (GA) on March 16, 2004 at 08:09:43:
Hi Del,
This is something that I have been looking into and would like to start, rehabing. I have seen several houses that I thought would be good prospects but I believe the banks want too much for them, is it common for them to accept offers far below what they are asking? Did you have any experience in contracting before you started? I have none but do know some good painters, roofers, sheetrock men, etc. Was there a particular course that got you going?
Thanks for your time,
Barry
Re: Cut the B.S. - Posted by dean
Posted by dean on April 16, 2004 at 05:50:38:
jim where in the h-ll are you in FL
I market like crazy and it seems I’m not getting any where
what am I doing wrong
I do letters, sighns knock on doors
RE seem to freaking lazy
aaaaaaaaaaaal
help
dean FL