I’m up on a Satruday evening thinking about how to effectively go about flipping the first few properties with minimal funds. I’m feeling a bit unorganized now, and that is hell to someone who is very organized otherwise. Since I decided that my initial marketing plan is being postponed until I realize the proceeds from the first few deals, I am scrambling for my next move. The next move is to make offers in SW Champaign and to orchestrate my birddog campaign (still waiting on the final word from my lawyer before I can launch the birddog campaign).
I drove most of SW Champaign this evening (technically yesterday) to look for FSBO signs and also just to get an overall feel for the area. There were very few houses for sale in this area and most houses seem to be of two constructions, either they were box like ranch homes or they were 1.5 level homes. I will launch a direct mail campaign to this area very soon. I have the owner names and addresses, all I need now is the stationary (all handwritten) and the postage (next payday).
Also, I received a random call from an investor in Chicago a few days ago concerning a commercial property that he’s looking to get rid of. He said that he stumbled upon my company website and thought that I might be interested. I told him that I typically invest in residential however that I’d run it past a few of my buyers. I have one buyer that told me weeks ago that he’s interested in both residential and commercial. So, the seller is going to mail the key to the building and me and my buyer plan to look at the property next week. Not sure where this will go, but I’m sure I’ll learn something.
In addition to the direct-mail campaign, I also have a short-sale lead system that I’m polishing and putting the finishing touches on. I would disclose what it is if I didn’t have a partner that wants me to keep silent about it. I’ll just say, that you may have heard of a similar strategy, however very few actually implement it.
I meet with a sales rep from the Yellow Pages again next week. For next years’ book, I’ll have an ad that targets Foreclosures. I’ve received just a few calls from the free Yellow Pages business listing, however with the paid ad I think I’ll be able to draw many of those who are in pre-foreclosure. I know that print advertising is a dying medium, however I’m following my intuition on this strategy. Pschologically, I feel that those who are in preforeclosure and looking for some help; won’t get on the web, won’t FSBO, rather they may contact a Realtor, or they open the yellow pages and see who they can turn to. In Champaign, noone has an ad in the Yellow Pages concerning foreclosure help, but me pretty soon. So, I hope that this is a smart decision. I now that Yellow Pages has a greater market share than Yellow Book, however I’m thinking about doing the same for Yellow Book.
That’s all for now, I’m going to spend the rest of this late night brainstorming on how to make the most of my Sunday.