Real estate investment properties are sometimes hard to move, especially in a down market where mortgages are hard to get. However, there are always people whose credit or situation in life does not allow them to obtain a standard mortgage loan, and these individuals are in search of alternative methods to purchase a home. This is your target audience, and the best way to reach them is with aggressive marketing and advertisement methods.
There are several means of getting your message out if you have a home for sale through a rent to own or lease purchase option. One of the best forms of advertisement for this real estate is the Bandit sign, which is the little ad sign on the side of the road that shouts out to passers-by "Rent to Own" 3 Bed, 2 Bath House, $995 per month, Call xxx-xxxx". These can catch the attention of anyone seeking a way to purchase a home without having to worry about little or no credit. In order to get the best response, place at least 10-20 signs out per week, usually within a 5-10 mile radius of the house in question.
The next means of attack in your advertisement campaign is to market through typical newspaper ads. In the ad, list the same information as on the Bandit sign, with an additional message that you will have a voice mail recorder available 24/7. Many of the individuals you want as a target audience will be a bit intimidated at the thought of speaking to you directly and will feel more at ease making the call if they know they will not necessarily have to speak to a live individual on the first call. On that machine, leave a recorded message with the rent to own terms, further advertising what you are offering in the home.
One way to use this strategy most effectively is to advertise a group showing, which is more efficient than making individual appointments that take up a lot of time and can even come up empty-handed should the viewer fail to attend. With a group showing, you can have 5-6 potential buyers see the home at the same time, saving you 4-5 additional appointments and allowing you to give the same information to everyone at the same time. The idea of competition also incites buyers to move more quickly or make a better offer in order to secure the property for themselves. Making the competition visible through a group showing is a good way to entice your audience to sign the lease purchase option faster.
Don't forget to advertise directly in front of the house that you have on the market. Have a professional sign constructed that states "Rent To Own" and add in some incentive messages like "easy qualifying" so that people are less concerned with being turned down, as they often fear with real estate agencies and mortgage banks. Also, be sure to list your rent to own property on websites that list "For Sale by Owner" properties. Many individuals looking for alternatives like lease purchases search these sites for homes that are appealing and provide the terms you offer.
With an aggressive advertisement campaign, you can find tenant buyers quickly and with ease. You don't have to go out looking for them; once you put the word out, you'll be inundated with calls from those seeking rent to own properties.
