Saturday, May 11, 2013

Truck Magnet Marketing...

Remember a few posts back when I mentioned amping up our marketing with t-shirts, iPhone covers, new business cards, and truck magnets? Well, our efforts have paid off! Lemme back up and fill you in on HOW...

On the day we were staging Cottage Grove (#10) we loaded up in our truck and headed off to the local Uhaul to rent a truck for the day. As we were at the counter paying, a man came in who had noticed our "We Buy Houses" truck magnets and asked if we were still buying homes. He mentioned a property he needed to sell. We exchanged cards and scheduled a time to meet him there.

After meeting at the property, David and I came up with repair numbers, ARV (after repair value), took pictures, and told the seller we'd be in touch. A lot of negotiation and comp (comparable sales) research later, we were able to agree on a price we could all live with. Yesterday we locked up the property by signing an Agreement to Purchase contract and are planning on closing in the next 2 weeks! Our lenders were happy due to the fact that we are rolling their self directed IRA right into another investment property, the seller was happy because he can finally walk away from the property, and we are happy because we stand to make 5 figures off this deal!

All of this has reminded us how important it is to continuously market for deals even though we usually buy from a wholesaler who has a steady stream of inventory...Our $15.00 truck magnet has MORE than paid for itself ;) We are driving all over the city on a daily basis anyway so why not do a little marketing while we are at it??

Here is a picture of the property, now Flip #12...take a good look because you won't recognize it when we're done!



Say hello to Flip #12!

2 comments:

  1. It's gonna be a beauty once you guys are done. Can't wait to see the transformation. And booyah on marketing! It works!

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  2. She will definitely transform, that's for sure! I'm really excited to see this one done b/c we are replacing SO much stuff! Gonna practically be a brand new house!!
    I wish y'all lived down here...I would force each of you to drive our "We Buy Houses" magnets around town, lol!

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