How do you guys market your Rent To Own properties? I would like to start building my buyers/tenant list. Can someone help! Thanks!
Flyers, Newspapers, Internet, Pole Signs etc.
Market Market Market…anything you can think of.
I secured an “888” number from Freedom voice. I had a sign made up “Rent to Own. Credit problems OK. Call 24 hours a day for a pre-recorded message” It was red & white and easy to read.
I would also run an ad under rent to own - most papers have a separate section - or you can just list it under the area that it’s located in. I would use the “888” number to save calls to my house.
The beauty of the “888” number is it records the numbers that are calling. YOu also get a good idea on the numbers of “Hits”, but that didn’t leave a message (yes you can follow up on those if you’re ambitious). Here is a sample/average of what I got on my 3 ads:
100 calls to the number
40 left a number to call for more info
20 said they would stop by during my open house
5-10 actually showed up
I got 2-3 deposits ($20) for credit checks; then I decided who would get the opportunity to rent/own the house.
Good luck. YOu have to really look at the credit report (which I got through Mr. Landlord.com to see if they are currently making their payments.
Here’s a great article!
Want a quick way to generate some L/O without spending a dime on advertising?
I thought I would take the time to contribute something of value to the group. So, I’ll let you in on how I do it.
Pick up the Newspaper, or pull your local paper up on line, also go to craigslist and look for everybody that is Advertising “Rent To Own” (RTO) and compile a call list.
Here’s what you say when you call them…
“Hi I was calling about the house for rent to own. I’m an investor also and I have a few houses coming up very soon and I thought we might be able to help each other out. What are you doing with the names and numbers of all the people who aren’t interested in your house (probably throwing them away)? What if you could still make a few hundred bucks off of the people? Hopefully even covering your advertising costs… What I can do is handle these people and put them into a house and you get paid. All you have to do is make sure you get me the name and number and I will follow up with them.”
I’m serious about this… I have used this technique to generate 50-60 leads a week. Imagine you call these potential L/O buyers. Ask them:
- What kind of house are you looking for (beds, baths, garage, etc.)?
- How much can you afford per month?
- How much do you have for a downpayment?
- How soon do you need to move.
Now you have the recipe for success. Imagine having just 5 serious buyers that have $5k each to invest… How quick can you find them a house to make $25,000??
Much Success,
Dustin Scaffide