Posted by Dr. Craig Whisler CA on April 02, 2003 at 20:44:45:
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help please( Doc, Karl,Tony, anyone!!) - Posted by Gary
Posted by Gary on April 02, 2003 at 06:48:13:
I have read many posts in the archives regarding ads. I would like to know if any of you any much experience selling to the over 55 market. I could use some help with ads/marketing.I have run ads in the local weekly saying " owner will finance no banks", and ScottS’s ad " name your payments", about 2 calls each. I could use some advise from anyone that has experience in this area. Thanks, Gary
You don’t need help. You’ve got it figured out. - Posted by Dr. Craig Whisler CA
Posted by Dr. Craig Whisler CA on April 02, 2003 at 11:54:30:
I would suggest running your over 55 ad offering payments, then at the end say “discount for cash”
Take the cash whenever you have a choice.
Many seniors do have enough money to pay cash. Many does not mean all. I bet half of the seniors are just as broke as I am. Even if I had enough money to pay cash I would prefer the 'low down 'terms so I could invest my money for maximum return (on the park’s weekly Bingo Game).
Regards, doc
I’m anyone! - Posted by Steve-WA
Posted by Steve-WA on April 02, 2003 at 09:45:48:
Gary, it has been written, and I have seen it myself - payments are not what a senior wants, so your marketing efforts are lost on tight wording of a “will finance” ad. 55+ buyers will usually want a good cash deal, so that they can enjoy the golden years without owing more than necessary. Your profit tactics must include low low low wholesale buying, because you can’t make it up like a normal Lonnie deal, with a “disguised” higher price and interest. To clarify:
First off, the money in this business is NOT made on interest. That’s just gravy that buyers expect to pay. And by “disguised”, I refer to the fact that most credit buyers care only for “how much down, how much a month.” Higher price? Higher interest? Usually not an issue, as long as it is reasonable. And if they find it unreasonable? (a) Juggle the numbers; you may still profit handsomely, or (b) they can go away.
Buying at as low as possible wholesale prices will still allow you to upsell enough to make it worth your while for cash - that’s where your 55+ market is. But be prepared to stay around the 2x mark. Good 'nuf? Yup.