AD for finding a sub2 with equity

My next property that I will trying to get is one for myself and girlfriend. I want something with a nice chunk of equity and am considering doing a sub2 myself if I can find a motivated seller.

Wanted to ask for suggestions on marketing or ads to “attract” these homes to me. I was thinking about advertising something about my credit as mine is 750 and my GF’s is higher than mine.

Reason I am doing this is because I have two other homes and don’t really want to go stated and want a mortgage that might be a couple years old with a low rate.

Thanks guys. :slight_smile:

Sean,

If you would like to buy sub2, I would shy away from advertising your credit score. It might send mixed signals. I think people would assume that you’re going to use that great credit to get a loan, rather than let the loan stay in their name.

Try getting a list of expired listings off the Multiple Listing Service (MLS) from a Realtor-friend or maybe from a For Sale By Owner site like fsbo.com or buyowner.com. Landvoice.com has FSBO’s and even tells you if the person is on the National Do Not Call list.

Make sure the folks you write or call are in the target area you’re looking to buy in (according to zip code, median price range, etc) otherwise you’ll waste money in the process.

You might also consider having some doorknockers made up and placing them on every house for sale that you see (or that anyone in your organization sees - painter, carpet guy, GC, etc). Let the team know that you’ll pay them $250-$500 for every lead they bring you that results in you buying the house (once the house closes, of course). www.frequentflyerz.com has some great ones with tear-away business cards at the bottom. They’ll even design them for you.

Big Cheese