Day 10 – Sell That Home Fast!!!
Today is Day 10 in our drive for $60,000 in 60 days. We are anticipating that our offer will accepted on the property in Highland, MI, and our goal will be to sell this property as-is as soon as we get it under contract. So you ask, how are we going to do this. Well, this will be our first deal so we’re not 100% sure, but we have a plan of attack and here it is…
The first obvious thing is to put a sign on the property listing that it is for sale. For this we won’t just create any old sign. We will make an A-frame sign big and ugly so that nobody misses it. We will also put signs around the local area driving traffic to our home for sale. In all of our signage we will include our contact information as well as our website for the property.
Create a Website
That’s right, we are going to create a separate website for the property. This website will be the hub of our online and offline advertising and will give us the ability to promote the property throughout the Internet and refer everyone back to this listing page. The domain for the property will be of the form www.<PropertyAddress>.com.
In the website, we will include the following information
- Property Address
- Full Description of Property (Beds, baths, size, lot size, etc.)
- A Video Tour of the Property
- Analysis of Profit Potential
- Comparables of Recently Sold Properties
- Seller Disclosure Statement
- Lead Based Paint Disclosure Statement
Next, we will create a deal sheet which is a 1-page flyer that will list some basic information about the property including the address, a picture, an analysis of the profit potential and comparable properties that have sold within the last 6 months. We will use this deal sheet in a few different ways.
Promote to Our Buyer List
Remember the buyer list we have been building? Well, now is the time to leverage it. For every property we get under contract, our buyer list will be the primary source for finding a buyer. First, we will put an email together letting our list of buyers know that we have a new property available. We will attach our deal sheet to this email to give them an initial look and refer them to our website.
Next, we will review our list and call each of the buyers directly. The order we call will be based upon the information we have about the buyers and their investment strategy. Since this property is a rehab, we will obviously be calling all the investors who are looking for rehabs first.
Hand Out Flyers
Next we will print copies of our deal sheet and hand them out as flyers in the area surrounding the property. We will also post this flyer in as many community bulletin boards around the property as we can find.
We will create an online classified ad using Vflyer.com that will be very similar to our deal sheet. Vflyer.com will give us the ability to create one flyer that will be distributed out to all of the following online classified sites:
- Ebay Classifieds (Kijiji)
- Yahoo Real Estate
- Google Base
- And several others
This is pretty powerful because it would take us hours to put the ads on all these different sites. In our ad, we will give information similar to what we are putting in our deal sheet and refer our buyers back to the website we created where they can get even more information about the property and a video tour.
Of course, we will use all of the social media outlets to let everyone we know about the property we have for sale. Facebook, Twitter, Youtube, and many other sites will be leveraged to make as many people aware of our property as possible.
We will also contact other investors to leverage their buyer lists. This will probably be a last resort because normally we will have to pay referral fees for using their buyers, but in a pinch it makes sense to leverage this because we will be better off completing the deal than not being able to complete the deal.