Wholesale marketing effectiveness in TX

Bird Dogs, Wholesaling
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So, I just wanted to get an idea about what works well for bringing in leads/phone calls in the Dallas area. I put out about 50 bandit signs 4 days ago (about half of them are still up) all over the main highways in busy areas, advertise on CL. So far the ONLY calls I got from the bandit signs is one from another investor and one from someone who called while he was driving around and taking down my signs haha…I thought bandits should generate more calls at least? I seem to have gotten more calls so far from CL.

Anyone else share what is working best for them? The bandit signs just don’t seem to be working as of yet. Does it take some time before I should get calls? What about a pre-forclosure list (http://www.flsonline.com)?

Thanks!

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Your placing them in the wrong spots! Hig traffic areas doesn’t always equate to calls. It gets the attention of the city and #ssholes who take them down though! Farm a area you think that will fit what your doing. I.E. values, prices, home sales, whatever… I personally don’t place at major corners. They get taken down too quick and it’s to hard for someone going 50-60 mph to really look,comprehend and write down my information.

I look for main veins in a neighborhood. You know those streets where several street flow into one and everybody has to use them to get in and out of their subdivision. I find these signs tend to stay up longer then most. Plus I always get a call from someone who says"I was visting a friend or relative and saw your sign, my house is across town, can you help" ? I put on my signs " WE TAKE OVER HOUSE PAYMENTS", I only have put up about 10 signs, got about 20 calls and referred about 5 short sales. I run into a lot of people with no equity and and upsde down(Phoenix Market). I hope this helps.

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Thank you! That does help a great deal! On my next run to put out signs, I will try busy streets other than highway access roads and areas/neighborhoods that I think I can market to.

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Also remember when you farm an area you become the “expert” of that area which makes you very credible when talking to homeowners. I’ve been farming an area here and have gotten to know the area very well. So when I talk to someone it makes them more open and comfortable to open up with me.

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Thanks again, will do! I need to determine what areas. I’m in Dallas and there are MANY older areas that I should be able to target!

Has anyone tried the preforclosure list I mentioned? It seems like another avenue, however from what I’ve been reading it seems alot of the leads generated from this list are people w/no equity. Is it even worth it to spend the monthly fees for a list such as one of these??

Thanks.

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I echo what tvaldez said…you get more bang for your buck placing the signs at strategic points leading from each neighborhood onto the main streets. Also, you have to be patient with your results, and willing to put out a lot of signs. I put out over 1000 signs (I’m not exaggerating), before I got a deal from one. I decided they weren’t worth the time and effort, but I know people who get deals from them consistently.

I’ve had great success with Craigslist- just keep your ads on there daily and you will get calls.

Good luck,
Steph
:cool

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Just an FYI, there is a new law in TX effective Jan 1, 2008 that makes bandit signs in State R.O.W. illegal.

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Wow, that’s great… Thanks for the update! I didn’t know there was a new law passed. Any idea where I can find what the “ROW” is in my area of Dallas? Also, any idea what the penalties are for bandit signs?

FYI, I was out last night putting signs out and Plano police stopped me, searched me, and made me pull the sign down that I had just put up. They then said if they see me again, they are going to take me to jail.

Well, that just blew a huge hole in my advertising…How are you guys advertising in TX? Are you still using bandit signs in TX or not?? Or are you just being careful with them?

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I think I misspoke. I think the law became effective Sept 1, 2007. Check out the link. Also, do a Google search “Texas Bandit Sign law” and check out what comes up.

Just my personal opinion, but I don’t take a chance with bandit signs. I know REI Club has had some teleseminars where the speaks gave some advertising ideas other than bandit signs.

http://www.statesman.com/search/content/news/stories/local/12/29/1229signpickers.html

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Do you know if they fine without warning or does the city “usually” give a warning to take down your signs before fining you? I read one post where it said, it depends on how many signs you put up and how long it takes to pull them down?

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At this point I’m trying to think of OTHER marketing avenues in the Dallas TX area. I put out about 90 bandit signs this week all over Dallas/Plano highways, busy streets, and neighborhoods I want to target and HAVEN’T HAD ONE PHONE CALL from the bandit signs!! What is the deal?? Am I putting them in the wrong area or just not being patient enough??

Here are a few other marketing techniques I was thinking about. If anyone has any advice on how effective these are specifically in the TX or Dallas region I would like to hear your thoughts…

  • Bandit signs - Not sure I even want to do these anymore due to the risk of going to jail or fines. ESPECIALLY when I haven’t gotten any leads from them. What are your opinions on these?

  • Foreclosure list (online service)<–is this list worth the monthly cost?? How many leads per week/month?

  • Direct mailing - I’ve been reading that there isn’t a whole lot of response here, but the yellow letters tend to get most responses? Is this worth the cost for little return?

  • Networking and word of mouth - doing this already

  • Driving around looking for properties - I hear about this one quite a bit, but honestly as much driving as I’ve done I haven’t been able to come up with much of any properties (unless I’m just not seeing them)

Anything else? What of these OR OTHER ideas I’ve missed work best for people in TX?

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Change the verbiage on your signs! Also I heard color as well.

view my post :http://www.reiclub.com/forums/index.php/topic,33860.0.html

PLace yourself in the shoes of the people your marketing too. Make your statement short and to the point. Get feedback as well, that always helps! It has to make sense.

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I’m no attorney, but I think a City can do whatever they want in that regard. My personal comfort level is to not do bandit signs at all, especially since even realtors are getting fined for their signs.

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You may also want to ask yourself the question: Is it worth potentially getting fined $200 or whatever it is for each bandit sign, or to take a chance at just getting a warning? Me personally, I don’t think it’s worth it. But others might.

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Yea, that’s a good point. I started looking at other alternatives to bandits (especially since it seems to be a big waste of $$ and the 6 hours I spent putting up 90 signs).

I’m started to research mailing now (expired listings / NODS) and the systems, time, and automation of…

As far as the type of bandit sign and color, it’s just your standard generic (<–maybe that’s my problem) “We buy houses and close FAST” type signs. It’s the larger 12*24 professional plastic signs with all blue lettering. It’s got my WE AID QUICK phone number (should be easy enough to remember) on it. I’ve been placing them all about 10-12ft high on telephone poles…

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I really think" we buy homes" may be played out. I’ve used them and NO RESPONSE!. May work in different area though? Try " We Take Over House Payments" That gets there attention. I was told to try “Can’t Sell Your Home? I can Help!” . A lot of people think they are stuck in their position. Heck Try " Want To Get Out Of Your Home? Call Me! Appeal to their very core!

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go to www.overnightprints.com get some flyers and pass them out, or pay to have them passed out or work a deal with pizza delivery places to get them on there boxes, I got 4000 flyers double sided full color with laminate for under 150.00 including shipping partner up with some business for the other side,i.e. fence co or landscape or whatever to split the cost of them.The key is to get creative, make sure your message is out there some people will stick it in their desk but 6 months later you get a call or their friend at work say something and then its " oh I got this flyer" its a numbers game, 1 out of 10 look = 400 1/10 call =40 1/10 sell = 4 Well Im writing a book and selling this stuff for 9.99 :deal want one? lol Good Luck from Lubbock,Tx.

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Great topic, keep it going. Many wonder what works and what doesn’t and this will help many.

Many use bandit signs in Texas even though there is a law against it. Put them up Friday afternoon and take them down Sunday night. Use a prepaid phone and put the number on the signs for extra protection. Doesnt eliminate the risk, but highly reduce it.

As far as foreclosure list goes, I personally hate it. I think every wannabe investor, realtor, and lawyer is marketing to them. They have motivation, but the fact that Texas only gives 21 days foreclosure notice and they are being bombarded with solicited mail makes it undesirable for me. Not to mention that if they have not acted yet, chances are it will take them another week or two to act leaving you with very short period to find a buyer. How do you feel about tieing up someone’s property and not finding a buyer? let it go into foreclosure or you buying it yourself?

Driving around and networking are useless. First, with the price of gas I doubt you are doing some serious driving around. If you are, use your money doing something more useful. Networking pays off over the long run, but has no immediate response. You may get lucky, but that is not usually the case or basis for business.

You mentioned direct marketing. This is one of my preferred methods. If this did not work for you then:

  1. You sent to small numbers
  2. You sent to the wrong audiance
  3. Your copy/content sucks

So fix your copy, and start doing repeat mailing to the same prospects. Get a good target list such as Expired Listings, FSBO, FRBO you know… people who are making it known they are trying to sell but do not have contract with a realtor.

Now, if you are willing to challenge yourself… then pick up the phone and do cold calling. Call the FSBO and for rent ads. Go knock on the foreclosure doors and talk to people… I know it is intimidating, but you get over it with time.

Also, you must keep in mind that you do not market to get immediate calls. Thats why many fails, or do not last to see the fruit of their work. Marketing is about keeping a lead generation machine going and with time calls will come in and deals will be generated. Don’t expect to send X number of letters and get Y number of deals from them… these are just averages not set rules.

Hope this helps.

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bandit signs do work but like one of the posters lamented you have to put them into the main entry/exit streets of mid size middle income neighborhoods… in my experience bandits worked better for lower middle class communities so you can’t expect them to work IMO in Las Colinas and/or similar areas… you will be better served in South Dallas, Irving (maybe) Redbird and areas like that…

personally, i find it hard to beat direct mail, but not just any ole’ letter or postcard! the yellow letters are popular right now but there are other things that work as well. At the end of the day, there really is no magic bullet but i would suggest buying Dan Kennedy’s copywriting books and material if you are serious about making money using direct mail.

also when using direct mail, always spend time on what you send your marketing message in (the envelope) - i have gone as far as mailing letters in paper sacks, (you bet they opened it!) - always keep in mind that people read their mail over a garbage can and anything that looks like a commercial mailing and/or bill from someone they don’t know gets trashed while mail from a friend or loved one or intriguing mail gets opened right then and there!

i am not quite sure how to post a photo within my message if someone tells me how i will post an example for you… best wishes

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if not mistaken, you have to host it elsewhere and reference it using the image tag as URL. (second button on the second line).