ft Lauderdale, FL · Member since 2010 · 68 posts · 4 votes
I did bandit signs when I was in the mortgage biz. I have a few questions.How many do you put out weekly? How many calls average? Deals? I have read most put out house for sale signs. Any luck buying houses with signs?
Real Estate Investor · Alpharetta, GA · Member since 2010 · 415 posts · 484 votes
15y
For the most part, and I can speak only about where I live, bandit signs are illegal. And thank goodness for that, since most of them are downright ugly. And setting aside the awful, handwritten signs, does it really help any neighborhood's aesthetics to have signs that talk about "foreclosure help" staked in every corner?
Most of these signs are on private property without the owner's permission, or they are on public property. My take is, if you have to tack your sign up 9-10 feet so people don't take them down, or if you need to get an untraceable phone number so you can avoid a fine, you need to rethink what you're doing.
Sure, it might be effective, but you know that it's wrong (again, in the cases I am referring to). It's like the people who tape a flyer to my mailbox, or stick a business card in a sandwich bag with some pebbles and throw it in my driveway. Now THOSE are two things that drive me batty. (Yes, I am a full-fledged curmudgeon at the ripe old age of 43.)
If a sign is legal and agreeable to the property owner, go for it. I might not like it, but I can't subject the world to my personal taste. (And what a pity that is!)
Real Estate Investor · Cincinnati, OH · Member since 2011 · 72 posts · 28 votes
15y
Ed - we put out about 20-25 we buy houses type signs just about every Saturday morning - they get nailed 9-10 feet high up on a telephone pole, so they stay up for awhile - I still occasionally see our signs that we put up 3+ months ago.
When we have a house to sell - we will put up another 20-25 signs in the area our house is in.
We average about 10 calls a week from sellers on our signs - so 40 calls a month on 100 signs. Not our best source of leads (direct mail is) but it generates enough calls to justify. In 2010, we did 4 deals that we bought off our signs that we netted $22k on total. Total time invested about 200 hours for the year between making the signs and putting them up, say $500 in gas and another $650 for the signs. So, we'll keep putting them up...
Flipper/Rehabber · Seminole, FL · Member since 2010 · 859 posts · 316 votes
15y
Interesting Paul. I have always wondered why people feel that way. Do you feel the same way if a person pays to put a large road sign on the side of the road? I know some people think there is just too much advertising period, I'm not sure why but I know these people exist.
There are so many signs in my area, I dont even notice them unless I'm writing numbers down on purpose.
Real Estate Investor · Cincinnati, OH · Member since 2011 · 72 posts · 28 votes
15y
Originally posted by Paul Broni:
If there is one marketing tool that I wish would go away, it's the "bandit sign."
Call it what it is: littering.
haha - I hear ya Paul - I know a lot of people feel the same way and I certainly get a few calls to that effect.
But my theory is if other people are going to do it and it works, I'm going to give it a try as well. And they do work for us...
If people are happy with the number of leads they get without signs, more power to 'em - but when I talk to investors looking to increase their flow of leads at a relatively low cost - I tell 'em to give bandit signs a try...
Rehabber · Tucson, AZ · Member since 2008 · 1k+ posts · 802 votes
15y
Originally posted by Ben Wilson:
Originally posted by Paul Broni:
If there is one marketing tool that I wish would go away, it's the "bandit sign."
Call it what it is: littering.
But my theory is if other people are going to do it and it works, I'm going to give it a try as well. And they do work for us...
Take into consideration how many bandit signs in your area are already being posted by other investors. This will dilute the number of leads and return on investment will be less.
Also look into the local municipalities laws on posting signs. In our area, cities with different rules and some actually consider it littering and will fine you. Another city actually has a task force assigned to track you down and fine you equal to the amount of time they spent to actually find you. The average fine is around a $1,000.00.
Lastly, there has been a lot of backlash in my town with regard to bandit signs where community volunteers are removing them as part of a clean-up effort.
Personally I used bandit signs and used them up until about a year ago where laws and attitudes started to change which resulted in having to replace the signs more and more often. I no longer use them.
Real Estate Investor · Alpharetta, GA · Member since 2010 · 415 posts · 484 votes
15y
For the most part, and I can speak only about where I live, bandit signs are illegal. And thank goodness for that, since most of them are downright ugly. And setting aside the awful, handwritten signs, does it really help any neighborhood's aesthetics to have signs that talk about "foreclosure help" staked in every corner?
Most of these signs are on private property without the owner's permission, or they are on public property. My take is, if you have to tack your sign up 9-10 feet so people don't take them down, or if you need to get an untraceable phone number so you can avoid a fine, you need to rethink what you're doing.
Sure, it might be effective, but you know that it's wrong (again, in the cases I am referring to). It's like the people who tape a flyer to my mailbox, or stick a business card in a sandwich bag with some pebbles and throw it in my driveway. Now THOSE are two things that drive me batty. (Yes, I am a full-fledged curmudgeon at the ripe old age of 43.)
If a sign is legal and agreeable to the property owner, go for it. I might not like it, but I can't subject the world to my personal taste. (And what a pity that is!)
Specialist · Jacksonville, FL · Member since 2008 · 140 posts · 14 votes
15y
Originally posted by Paul Broni:
If there is one marketing tool that I wish would go away, it's the "bandit sign."
Call it what it is: littering.
I hear what you are saying but I call it a form of marketing. Politicians use it to promote themselves so why can't investors use it as well?
Besides, If there wasn't any bandit signs, those guys that go around and pick them up after you spent hours putting them out would be out of work. Just saying.
Rehabber · Tucson, AZ · Member since 2008 · 1k+ posts · 802 votes
15y
Originally posted by Paul Broni:
Most of these signs are on private property without the owner's permission, or they are on public property. My take is, if you have to tack your sign up 9-10 feet so people don't take them down, or if you need to get an untraceable phone number so you can avoid a fine, you need to rethink what you're doing.
Real Estate Investor · Cincinnati, OH · Member since 2011 · 72 posts · 28 votes
15y
FYI - we closed a deal a couple of weeks ago on a house we got from a seller who called on one of our signs - assignment fee was about $3k - not huge but it will pay for a lot of new signs!!!