![\"Crush](\"http://www.flipthiswholesaler.net/wp-content/uploads/2012/02/FTREO-Banner1.png\")
11/5/2008
I have received several emails asking questions about the signs I use to sell my deals and to attract new buyers.
I use 18×24 blank white choroplast signs. They cost me 88 cents each. I buy them at a local company (Laird Plastics), but it looks like they have locations all over the place. I can’t speak for the other locations, but here, I can just drop by their shop and they will have my signs in a few minutes, and they are super nice.
I have been putting out 25 signs every Saturday morning. If I don’t have a deal of my own to sell, I will market something that one of the other wholesalers I work with is trying to sell (someone always has something to sell). If you are just getting started, I would highly recommend contacting some of the active wholesalers in your area and asking them if they have any properties to sell. This is a FANTASTIC way to get your feet wet, build your buyers list, and learn your market. And there is no risk involved at all. If I was starting over, that is exactly what I would do. I would find the most productive wholesaler in town, call him (or her) up, and ask if I could help market their properties. Then I’d go out and market like a mad person. There is no better way to learn than getting out in the streets and DOING….
Anywho, here’s a picture of one of my signs in action….
P.S.
Don’t prank call me.
On November 06, 2008 at 9:41am, Claude J. Monteiro said...
AWESOME!! Thank you very much for sharing.:)
On November 06, 2008 at 12:22pm, Eileen-WI said...
Steph,
Does the township ever call asking you to take them down? The one and only time I put out signs I had a call the same day telling me to take them down asap.
Eileen
On November 06, 2008 at 2:20pm, Stephani said...
No problem, Claude
Eileen,
I have never had a problem with the city/code violations.
I know it varies by county- some areas and really strict and will fine you, and some don’t seem to care.
On November 09, 2008 at 10:22am, Jared said...
I am going to prank call you by the way…
On November 10, 2008 at 10:21am, Alison said...
This is awesome — how would you recommend finding the most productive wholesalers? – Asking the first ones you call? I’m in an area now (New Haven, CT) where there are a TON of foreclosures – very exciting times!
On November 10, 2008 at 12:40pm, Stephani said...
Hi Alison,
Here in Tampa, lots of wholesalers advertise their deals on Craigslist, so that is where I would start. They usually use key words like “ARV” and “hard money” in their ads , so you can do a search for those words and see what pops up.
I would also call all of the “We Buy Houses” ads and signs, as those usually belong to wholesalers.
Start going to all of the rei meetings that you can find and network like crazy. It should not take you too long to find out who the movers and shakers are..
Steph
On November 11, 2008 at 1:09pm, Alison said...
Thanks!
On November 12, 2008 at 3:19pm, Anonymous said...
I will market something that one of the other wholesalers I work with is trying to sell
Steph, that is the sort of thing I was asking about back a few weeks ago when someone said they’d report you to the real estate board. It’s fine to market your own stuff, but it seems to me when you are “marketing” for others, you are doing the job of a real estate agent, without a license.
I’m not an expert on such things but I always try to follow the rules and I guess I just assume others do, too. I don’t know what the punishment would be if you get caught. If it’s just a stern “stop that,” maybe it’s worth the chance to you. But what if it was a huge fine?
On November 12, 2008 at 3:54pm, Stephani said...
Yes, it would be breaking the rules if I didn’t have an equitable interest in the property. How do you know that I don’t have a contract or an option on the property?
It can be done legally, and there are more ways than one to get it done.
The deal I just sold for another wholesaler is structured like this:
Wholesaler has property under contract with bank for 12k, I have contract to buy from wholesaler for 18k, and I am assigning my contract to my buyer for $4500.
Steph
On November 18, 2008 at 4:44pm, Anonymous said...
is a handwritten sign better than a factory printed one?
On November 18, 2008 at 4:59pm, Stephani said...
I don’t know if handwritten ones or better than printed ones. I know that they are cheaper, and they make my phone ring, though.
On January 20, 2009 at 5:50pm, Mike said...
Hey Steph,
Do you post a sign on the property? And how do you get your buyers inside?
Best Regards,
Mike Osterman
On January 20, 2009 at 5:54pm, Stephani said...
Hi Mike,
No- I don’t put a sign on the property.
99% of the REO realtors will give you the lockbox code if you ask for it. They aren’t supposed to, but they do. I’ve never had a problem getting anyone inside..
Steph
On August 03, 2009 at 5:00pm, roger shaker said...
Hi Steph
Sorry for the stupid question and for such an old blog – how did you come up with the 39K- is it an avg REO price you are seeing in ur farm area ? I am trying to come up with a similar number for my farm area – tips ?
Thanks
Roger
On August 03, 2009 at 5:03pm, Stephani said...
You have to study your market to figure out how to price properties so they will sell.
Find some investors who buy in the area and ask them what price they are looking to buy at. Then go find deals that fit their criteria.
On December 15, 2009 at 1:28pm, Tony Zamberlin said...
Steph,
when buyers call off a propety that another wholesaler is selling that you are helping them move the property do u just get there email and phone or do an investor profile sheet of what they want?? thanks
On December 15, 2009 at 1:36pm, Stephani said...
Hi Tony,
I just get the basics of what they are looking for- price range, parts of town they are interested in, type of construction, etc. I also get their phone # and then put all of the info into a spread sheet. I don’t really do too much emailing to my buyers- I prefer to call them personally.
On December 17, 2009 at 12:00am, Tony Zamberlin said...
Great thanks Steph!
I’m marketing another local wholesaler prop tomorrow with bandit signs and my buyers list. its in another county above mine. do i still ask those same questions?? thanks
On December 17, 2009 at 4:48am, Stephani said...
Yes, same questions.
On February 25, 2010 at 7:26pm, Yvette Luna said...
HI Steph, Do you only use bandit signs to attract buyers? This seems to be the norm, but I’d really like to attract sellers to my website and have them call me with a house their interested in selling. Have you ever done a bandit sign to attract sellers? If so, what information would you write on a bandit sign? Thanks.
On February 25, 2010 at 7:31pm, Stephani said...
Hi Yvette,
I used signs to find buyers when I was very first getting started, but my results were pretty dismal. I put out thousands of signs and ended up with one deal, which wasn’t at all worth my time and effort. The ones I used were the basic “Cash For Houses” with my phone #.
I know other people who do well with them, though, so I would give it a shot and see what happens.
Good luck,
Steph
On February 25, 2010 at 10:39pm, tony zamberlin said...
Yvette,
Bandit signs are great! put out 10 around a property u have tied up and handwrite with a big permanent marker or one of those “posterman” markers just what steph says and it works! i have sold 7 houses in last year, not bad for a beginner, lol. 3 sold from signs, 2 sold to my buyers list, and one 2 sold from craigslist, so it def works!!