Investor · Chicago, IL · Member since 2013 · 57 posts · 3 votes
I am a new fix it and flip guy and find it difficult trying to locate homes to buy with enough value (ARV) and make money. Using the regular real estate posting websites have not been helpful. Even identifying the area to buy into has not been easy. A friend of mine suggested printing off several hundred flyers with my name and number and blanketing an area with the type of home I am interested in buying. Is that a worthy use of my time? Any problems with leaving it in peoples mailboxes? I am purposely getting my brokers license to get access to the MLS for this purpose. I appreciate any help.
It is against federal law to put anything in or on the mailbox. Also, check the soliciting laws in your area, you may need a license to pass out flyers. As far as worth your time, no one could tell you that. If you have more time than money then it could work for you, but you'll need good direct response flyers and a lot more than a few hundred, probably a few thousand before you start getting any decent leads.
I sent you a message a minute ago, but I'll try and answer some of these questions as well. In my opinion, I wouldn't limit yourself to type of house or even neighborhoods. I go where the money is. All that matters is the numbers. I would also suggest buying a specific list to market to. Your marketing has to get in front of the people that have a need to sell. When you blanket a neighborhood with mailers, be prepared to get a ton of phone calls of people wanting 250k for a 200k house.