looking for some ideas on sub 2 ads and lease options.
For buyers I use the following:
Rent To Own
You Can
Move in Today!
Phone Number
I have run this in ads and signs and it brings in about 10-15 calls/day. Of course only about 1/3 of them are good candidates. The biggest thing that I am finding is that you need to make sure that they can afford a decent down payment so that they think twice about bailing at the end of the lease. I usually try to get the 1st and last months rent and 3-5% of the purchase price as a down payment.
For sellers I use:
Don’t call the “We Buy Houses” signs.
Don’t let them steal your house.
Call me first. Phone Number
Good Luck :beer
Hey thanks alot…i will try those.
Is this the main source of all your deals? And what kind of response have you gotten from home owners trying to sell?
I have gotten a few deals from sellers with that ad. It also brings in a lot of calls from other investors pissed off at your ad. I always get a good chuckle when they call. I also use this ad but in the real estate for sale sect.
We will make your house
payment until it sells! We
are not agents. No fees, no
commissions. 555-5555 lv msg
Again, very few calls with the ad but people usually are desperate and ready to go when they call.
Personally I like finding the buyers first. It makes finding the deals that much easier. Happy Hunting! :beer
What have you found the best way to getting sellers? I already have buyers, but I’m wondering What have you found to get the most buyers?
The easiest way that I have found to find sellers is to open the newspaper and call all of the for rent ads that are listed in areas that your t/bs want. Ask them if they would consider a rent to own. You can also call the fsbo’s but you will get more rejection calling them. Unless a fsbo has been on the market for a long time they are not very likely to do a rent to own.
To get buyers: good, old fashioned, hand written signs have worked the best for me. Put out 10 a day in high traffic areas and you will have more T/Bs than you will know what do do with.
Just keep in mind that you have to have many channels to get prospective buyers or sellers. I only know what has worked in my area so make sure that you test to see what is best in your area. Good Luck. :monalisa
Thanks alot jesmar424 been alot of help!!!
Hey jesmar424,
I’m also wondering What do you say when you get property management companies? Who are renting the homes?
Getting the TB’s are the least of your worries…
Rent to own ads, signs will get you many calls… many from unqualified bad credit folks… a small margin will have any cash for earnest money… or will have the cash because they havent paid rent or mortgage of apt. or house they are currently in… be sure to examine credit for this decision… and yeah as much earnest money dwn as possible… Im seeing many mortgage payment of PITI in New england are high as is to do a L/O… Unless it was bought some time ago and has equity now or entered into with big money downpayment…
They are out there but takes some sifting for both Sellers w/ equity and Tenant Buyers -
payments low enuf or enuf credit & cash for TB
How the deal is obtained, structured and financed is more important…
along with avoiding the due on sale clause… & CYA disclose everything…
What strategies will you use Once you find motivated sellers ? Buyers ?
Nothing is easy but persistance pays… how one outta 10 sound… or even 1 outta 20… if you make 10, 20, 30 K…
so get 25 deals at all time in your pipe line and dont get discouraged when offer is refused…
Hope it helps…
Mohegan