Hi Everyone,
I think I have an original way to market to either distressed home owners and/or older people looking to get out of their old run down home and into something smaller with less maintenance.
In my area, there are 25k shells less than 1 mile from 500k rehabs.(pre-rehab homes go for 150-250k in this area) My idea is to fix up a shell with purchase and rehab cost of less than 80k. Then do a direct mailing to homeowners in the area of high end rehabs that have lived in thier homes for at least 10 years. I will offer to trade my rehab for their home. Basically I would buy their home for 90-100k then they would purchase my home for that amount.
Another option is to offer on year free rent with the option to buy.
This is just a general outline of what I’m looking to do. I hope it makes sense.
I know there are many more details that need to be worked out, but I want to know if you think this is a good way to get in the door. Please let me know what you think.