Posted by David Alexander on December 27, 1998 at 22:38:34:
Here’s what I do, I place an ad in the paper, mind you, I’m Owner Financing not doing a Lease Option.
AD in the paper Reads:
Owner Will Finance
1515 Mockingbird Ln.
People call and they will not leave a message, so I make sure of three things.
- I’m able to answer the phone myself.
- If not able to answer, I have software hooked to my computer that forwards the caller I.D. to my pager, I return the call immediately.
- At the very least I return every call on my caller
I.D. asking if they possibly called about the house.
At the House itself put a Big Sign, Open all the blinds
to the House, put some signs up the street.
When people call prequalify them, do they have an adequate Down payment, how long on their job, when are they planning on moving, how long have they lived where they are currently at? etc., etc.
Tell them to go by the house and look if they are still interested to call you back or page you.
Once you have a few people interested, go meet them all at the same time, it will create urgency among the the others.
In the Ad
I don’t put the amount of the down payment, or the amount of the payments because, The down payment, I want as much as I can get, and the payments will depend on the interest rate and I won’t determine that until I
see their credit. I won’t to make sure to structure the deal right in case I ever need to sell the note.