Posted by Todd - GA on May 16, 2002 at 12:53:36:
Yes, I know what you mean on both counts. We all are finding this growing buyers market of ‘C’ credit folks that the banks do not deal with and who will even tighten up more on in the future.
When you start selling remember about the signs. I got more calls from a directional (sign) on the main street near one of my properties that 3 weeks worth of ads in the paper.
Welcome to Georgia and happy investing.
double signs double potential buyers - Posted by Mike (Fl.Ga.)
Posted by Mike (Fl.Ga.) on May 16, 2002 at 07:19:43:
We’ve had our home up for sale at a retail price for about 5 weeks. No advertising other than sign (we’re not in a hurry), just a simple FSBO sign in front yard. On the weekends we put out 2 “open house” signs, one in front of house and one at end of street. Had at least 3-4 couples come through looking each day (Sat-Sun). Last week decided to put out 2 more “open house” signs leading to the house from higher traveled road around the corner (a couple blocks away). One on the “main” road and one around the corner that leads to our street. The increase in potential buyers more than doubled, tripled really, over these last two weekends. Being in advertising, I should have known this would happen right?
Just having a house for sale (our personal residence) has been an educational experience. We’ve had an average of at least one couple per week who wanted to purchase our home but couldn’t qualify for a mortgage for one reason or another. This has really opened my eyes to the Lease Option strategy that many talk of here in this forum. Heck, I even bought a L/O course because of these experiences. By this afternoon, I will have ordered a “subject to” course as well.
When someone on this forum writes about the huge market of potential “Tenant / Buyers” out there looking for homes, I know with certainty from personal experience now that “YES” they ARE out there, in droves I might add. If I were willing to L/O my home here, it would have been gone the first week I had the sign out (with NO advertising except my FSBO sign). When I get to Georgia, I will most definately be using this strategy to fill/sell homes I control/own.
One more note: This forum and the people who post here to help the newbies like myself are AWESOME! Thank you all for the experiences/expertise and encouragement.