Posted by James on February 22, 2007 at 12:21:02:
…all while spending more time in the oval office than any other President…
This whole post made me laugh. LOL
The Most Wasted Form of Marketing!!! - Posted by WeRealtyDo!
Posted by WeRealtyDo! on February 21, 2007 at 16:40:00:
Hello,
I just came home from a hard day of meeting sellers,
and potential buyers and when I pull up to my home guess what I see?
This big yellow peiece of paper from someone saying they want to buy my house.(remember I said someone)I then look around at all of the other houses and see the same peiece of paper, on my neighbor’s doors.
So then I started reading the paper and realize just how much of a newbie this person is. I like the fact that this person is trying but let’s be honest. I live a in a very very nice neighborhood, to my knowledge there are no rentals over here, all of the properties are in top shape, and I haven’t seen nothing but one(1) forsale sign, and that just came up.
Now here is exactly what the paper says:
Property needs “Fixing Up”…want to sell as is
Death in the family…need to settle the estate qucikly(spelled just like that)
Slow selling your house…been on the market too long
Downsizing…ready for a more comfortable home (I understand this one)
If you can be flexible on the terms, I can offer you a better price.
Then it lists a phone number.
Now remember I said a person because this person DID NOT list a name or company, just a local phone number.
This person just threw something on paper. To top everything off, this person Taped this Paper to my Glass Door!
Honestly I would’nt have nothing but good things to say about this person but they violated with the tape on my glass door and posting the paper in the wrong area.
This was just a waste of paper. People please learn your market, and direct your marketing towards it.
Sorry but I had to get this out.
Happy investing!
How do you know it is wasted? - Posted by DaveD (WI)
Posted by DaveD (WI) on February 22, 2007 at 08:12:04:
A big part of buying houses is just showing up. The message is really secondary. The fact that there is a phone number (I assure you, the phone number is NOT miss-printed) gives a motivated seller a person to talk to. A bad message is better than no message at all.
Frankly, I think you are jealous someone has the audacity to paper your neck of the woods. You already revealed a lot about your own insecurity. If you call to complain he/she will have the good sense of humor to laugh. You should too, and learn a little something about fishing for deals.
To suggest houses aren’t for sale because there is only one for sale sign doesn’t mean anything. More than one of us here have bought houses out from under the neighbors nose… and it has happened to me as well… because I didn’t paper my own neighborhood.
Re: The Most Wasted Form of Marketing!!! - Posted by WeRealtyDon’t
Posted by WeRealtyDon’t on February 22, 2007 at 08:05:40:
You’re an arrogant nitwit.
Re: The Most Wasted Form of Marketing!!! - Posted by John
Posted by John on February 21, 2007 at 18:50:11:
Hey,
We were all newbies at one time or another. Don’t knock a guy for trying. I would lol if this guy pulled a great deal right out from under your nose in your own neighborhood.
IB, I knew you when you were “wet behind the ears”. If you can’t give a helping hand to a newbie or point them in the right direction then just leave it alone.
Not everyone is a marketing genius.
Just had to get it off my chest…
BTW, I have purchase some really good deals in high end neighborhoods like you live in. I give the guy credit for doing something. Most newbie RE investors do abolutely nothing and expect the deals to just roll in.
Back to business. Later.
John
Re: The Most Wasted Form of Marketing!!! - Posted by IB (NJ)
Posted by IB (NJ) on February 21, 2007 at 17:27:45:
Think you got newbie problems?
Saw a 2 family that needs a TOTAL rehab. In fact, I’d say it’s probably a knockdown except the depth of the property is 5ft short of the allowable depth to build a new 2 fam. The place is FULL OF TRASH as it’s hard to even walk through the place. Nonethless, I estimated about $80k in rehab including extensive framing from the water damage. The owner wants $104k. The ARV is no more than $270k. So this aint happening. Especially since the place is so small. But the neighborhood is crappy. So I wouldn’t offer anymore than $75k. I asked her what was the least she’d take all cash and she said she would get back to me (one of the reasons I hardly ever use this line - some communities don’t appreciate slick sales lines). Nonetheless, I never heard from her again.
The next thing I know, some (obvious) newbie posts the same property on the board to sell at $189k (and he claims that’s a discount). Claims the ARV is $340k, and the repair costs is $60k (he’s obviously leaving out the roofing and framing - and probably the stolen plumbing). Says he has proof of all numbers.
So I decide to play along and email the guy as if I’m interested. So he emails me comps - except their 6-7 months old, contain only 3 properties all of which are close to the subject property BUT located in a more desirable section of the city, and much larger [building and land wise] than the subject property.
So I give it a day and email him back the problems I’m having with the comps and could he send me more relevant ones. Haven’t heard from him since.
I’m going to follow this one and see how it ends up. But the property will be headed to sheriff sale soon and this guy is playing real estate investor with a house that’s been in the family for 50 years. Sometimes I think there should be an exam to start your own REI business. ESPECIALLY if you’re going to deal with foreclosures.
Ib
Re: The Most Wasted Form of Marketing!!! - Posted by James
Posted by James on February 21, 2007 at 17:25:07:
There’s a guy around my town that does the same thing.
He knows what he’s doing and makes 100-150k/year doing it. His marketing looks like it came from a personal notebook and it’s spelled wrong too…the guy could put many advertising people out of business with everything he uses at his disposal.
Can’t knock him as it makes him money - I probablly wouldn’t do it without looking professional, but that’s just me.
Re: The Most Wasted Form of Marketing!!! - Posted by BigV
Posted by BigV on February 21, 2007 at 16:50:54:
actually, it turned out to be a good piece of marketing because it got NOTICED.
You would probably not pay attention to it had it been a glossy, professionally done paper with all spelling errors corrected and a nice company logo, etc…
The investor may not be a newbie after all.
Re: How do you know it is wasted? - Posted by WeRealtyDo!
Posted by WeRealtyDo! on February 22, 2007 at 12:45:21:
Insecurity and jealousy, I think not. Lets not turn this into a different situation with these slick personal shots. Anyway thanks for the reply.
Happy Investing!
Re: How do you know it is wasted? - Posted by Steve
Posted by Steve on February 22, 2007 at 11:38:24:
Dave
I agree, plus just because the house you plaster isn’t for sale, it doesn’t mean the owner doesn’t have something else he would like to dump, or knows someone else, maybe his mother in law wants to sell and he would like to help her leave town as soon as possible.
Steve
Thanks, for all of the replies - Posted by WeRealtyDo!
Posted by WeRealtyDo! on February 22, 2007 at 12:41:33:
Yes, i have nothing but respect for this person for trying. I wouldn’t mind helping, I think I should’ve put annoying instead of wasted.
Any Happy Investing!
Re: The Most Wasted Form of Marketing!!! - Posted by IB (NJ)
Posted by IB (NJ) on February 21, 2007 at 21:43:53:
Still “wet” John in comparison to where I want to be. And yes I DO help newbies all the time. (Aside from the friends and family I’m presently working with) Anytime I post an informative message in my REIA group, the calls/emails come in and I do help out. And if the guy who sent me 6-7 month old comps wants my help and can bring himself to ask for it, then he’s got it (I actually wanted to see if maybe I missed something in my calculations - didn’t think I did but you never know). But he can’t get it by ignoring my questions because despite his naive numbers, he hopes this deal rolls on in anyway.
Ib
Re: The Most Wasted Form of Marketing!!! - Posted by WeRealtyDo!
Posted by WeRealtyDo! on February 21, 2007 at 17:46:53:
Yes, I’m glad you mentioned this. I can not stand those phantom comps. I don’t understand why people think we won’t do our own research even if they provide comps.
I like the way you didn’t reveal all of your cards, I like that.
It’s crazy!
Happy investing!
Re: The Most Wasted Form of Marketing!!! - Posted by James
Posted by James on February 21, 2007 at 17:32:26:
LOL…n00bs.
It happens. I love these types of stories too.
It’s good to see you around still IB. I havn’t been here for a while, but intend to bring all my knowledge back with me. Yup, that’s about it. lol
Re: The Most Wasted Form of Marketing!!! - Posted by WeRealtyDo!
Posted by WeRealtyDo! on February 21, 2007 at 17:53:30:
I understand marketing tactics, and this one isn’t good.
He posted his papers in the wrong area completely. I mean my neighborhood is very good, and the market is stable. Houses sale very fast over here as there are very few if any forsale.
Now a couple miles down, this would have been GREAT!
Re: The Most Wasted Form of Marketing!!! - Posted by WeRealtyDo!
Posted by WeRealtyDo! on February 21, 2007 at 17:56:54:
Yes it got noticed, but in the wrong way.
As I stated earlier, this is the wrong area to be targeting these type of deals.
A few miles down and this would have been GREAT!
Re: The Most Wasted Form of Marketing!!! - Posted by IB (NJ)
Posted by IB (NJ) on February 21, 2007 at 17:14:09:
How effective is noticeable yet ANNOYING marketing?
Ib
Re: How do you know it is wasted? - Posted by WeRealtyDo!
Posted by WeRealtyDo! on February 22, 2007 at 12:46:52:
Good point! I should’ve put annoying instead of wasted.
Happy Investing!
Re: The Most Wasted Form of Marketing!!! - Posted by IB (NJ)
Posted by IB (NJ) on February 21, 2007 at 21:30:17:
The worst part was that he posted the deal on my REIA’s board. There’s only a handful of real rehabbers in the group. Most of the folks in the group are newbies and most of the deals posted aren’t real deals.
No need to reveal the cards. But I am going to wait until the SS is scheduled before I call the owner and advise her to stop wasting time with this clown and sell the property for whatever she can get (there’s the matter of an old 2nd mtg. that she has to get discharged - it might take some time).
In the meantime, maybe the newbie will teach me a thing or two and get it sold…{spitting out my water} yeah right - lol!
Ib
Re: The Most Wasted Form of Marketing!!! - Posted by IB (NJ)
Posted by IB (NJ) on February 21, 2007 at 21:26:29:
Yeah still here James. Glad to see you back too!
Ib