We’re getting ready to place our first ad under Real Estate Wanted in the local newspaper to attract motivated sellers, i.e. foreclosure, divorce, probate, etc. We have available capital to pay cash and then we’ll either quick turn as a wholesale, rehab and sell at retail, or perhaps lease option.
Can I get input on what others have used for their ads that have been effective (i.e. wording and formatting.)?
I’m getting tired of talking to the very unmotivated fsbo’s and others in the newspaper, and need to start talking to Motivated Sellers!
Thanks - Tim
not to discourage you it is all a numbers thing anyway REOConsultants gets 150 calls a day and I only find one or two deals that I would do out of them! And another 4-5 deals good enough to wholesale!
Ads in the paper are always a part of an overall marketing strategy. The free classified papers are best because they are cheaper. I usually get 1 or 2 deals per year from these ads, which represents the lowest roi for all the various methods I use. There are usually many investor ads you are competing against and chances are that the sellers will call more than one, so a quick response if very important. Also, be creative with the ad copy. “We buy Houses” will not set your ad apart from the others. Maybe Frank buys houses or family man buys houses would be more interesting as many motivated sellers are in an embarassing situation and prefer to speak to a person and not a faceless real estate company.
dollar for dollar, bandit signs/bird dogs have been the most effective for me. I usually get one or two deals per 100 bandit signs. not bad for a 400 dollar investment.
if you have the time, “driving for dollars” can be effective also. these are usually adandoned houses. many will be probate, and will take some time to track down the seller, but there is no competition.