Investor · atlanta , GA · Member since 2012 · 287 posts · 148 votes
I know this happens to other investors / landlords. I cringe every time I hear Josh, Brandon, or anyone else on a podcast say, "Call people on Craigslist or Zillow that have a house for rent and see if they want to sell it, they might be a tired landlord."
Every time I post a house for rent I get a bunch of people e-mailing and texting me this almost exact text, voicemail, or email, "Hi Thomas, I am an investor and I saw your rental property on Craigslist. I am looking to buy a property in the same area in the next few weeks. You wouldn't have any interest in selling would you? Call me at xxx-xxx-xxxx. Thanks
I laugh because as soon as I tell them "All of my properties are for sell, at full appraised value, and I don't do owner financing." It's like crickets, they never return the message.
Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
9y
At least they are calling to offer to buy something from you and not selling you. I get so many calls every day, some robot calls, done big telemarketer call centers, and everything in between. Even being on the national do not call list and I still get them daily.
Ok, rant over, these calls you are getting are investors looking to find motivated home sellers. Obviously you are not one of them so perhaps in your ad, you can list that fact so they may stop calling you.
Rental Property Investor · Seattle, WA · Member since 2017 · 40 posts · 19 votes
9y
I agree. I will advertise in the "for sale" section when I become a tired landlord. And by the way, I will not sell just because I am tired but I will be executing a carefully planned exit strategy to minimize tax implications based on my situation then.
Otherwise, consider regular letters/postcards so at least you finance the post office :-)
Investor · United States · Member since 2015 · 415 posts · 487 votes
9y
Sure, it's a numbers game, like any kind of cold contacting. The call takes 60 seconds, and even if only 1 in 50 is interested in selling, you would do well.
Even though it only takes 15 seconds to say "no thanks" and hang up, it is irritating to receive calls like this. Something about it just feels disingenuous.
Developer · Santa Clarita, CA · Member since 2008 · 15k+ posts · 10k+ votes
9y
At least they are calling to offer to buy something from you and not selling you. I get so many calls every day, some robot calls, done big telemarketer call centers, and everything in between. Even being on the national do not call list and I still get them daily.
Ok, rant over, these calls you are getting are investors looking to find motivated home sellers. Obviously you are not one of them so perhaps in your ad, you can list that fact so they may stop calling you.
Sure, it's a numbers game, like any kind of cold contacting. The call takes 60 seconds, and even if only 1 in 50 is interested in selling, you would do well.
Even though it only takes 15 seconds to say "no thanks" and hang up, it is irritating to receive calls like this. Something about it just feels disingenuous.
It does not irritate me. In fact it is quite inspirational to think that there are people out there who are so motivated to get a deal that they are willing to do it.
Instead of making fun of these ambitious investors, maybe we should look at the thousands who are paralyzed with fear and never do anything.
Investor · New Orleans, LA · Member since 2014 · 1k+ posts · 944 votes
9y
I don't have this happen when I post rental ads. But I get a lot of postcards and a few calls when I first buy a property.
Maybe someone can chime in on the "method to that madness", but it seems even more insane.
And I'm not talking they offer me more than what I just bought the house for. That I could understand. But no, they offer me less. A lot less. Now THAT is a ginormous waste of everybody's time. It is incredibly stupid and, therefore, incredibly irritating for someone to bother me. This is in reference to the first time I actually, so naively, spent time talking to someone about a duplex I'd just bought.
After that, I don't as much mind talking to wholesalers who e-mail or call me. Because, you never know and everything is available for a price. However, I cut to the chase with, "OBVIOUSLY I am not a motivated seller. Or I'd have the house up for sale. This property is great and I cash flow $XXXX/month. I wouldn't even sell it for comps. But if you want to offer above that, I'll listen." If it's an e-mail, I never hear back. If it's a phone call, they thank me for talking to them and say good-bye.
With that said, if I ever do start getting a lot of that from my rental ads...especially since I really want to be focusing on replies from potential tenants...I would add a little blurb at the bottom of the ad that the property is not for sale, or something to that effect.
Rental Property Investor · Red Bank, NJ · Member since 2017 · 1k+ posts · 1k+ votes
9y
I have gotten mailed solicitations- good for them, both my properties are always for sale but I have no intention of selling. That just means I have an extraordinary high asking price.
The man I bought my properties from was going through a divorce, medical issues and relocating. He was extraordinarily motivated and unloaded 5 multi-family properties for below value and he financed some. Had he gotten a post card or a letter he would most certainly have taken them up on it.
Investor · atlanta , GA · Member since 2012 · 287 posts · 148 votes
9y
Some have mentioned putting wording in the ad that says the property is not for sale, but what I've found from at least three different solicitations is that their systems are automated. Smart for them for using automated systems, but aggravating for the person who gets all the messages.
Any time an ad goes up for a property in an area they're buying in, an automated text, e-mail, or robo-call comes to me. I guess it's just something else to get used to with all the other robo-calls.
Real Estate Investor · Tempe, AZ · Member since 2012 · 874 posts · 648 votes
9y
@Thomas Williamson you're a good man for returning all phone calls, but if they aren't from humans I doubt you should feel any obligation to waste your time....
Investor · atlanta , GA · Member since 2012 · 287 posts · 148 votes
9y
Oh, I never call any of them back but I get their messages and voicemails. It's pointless to call any of them back because their going to try and get something for nothing. I simply respond to the texts and e-mails with my standard response of, "Everything I own is for sell. For full appraised value and I don't do owner financing." They never respond back. :)
Rental Property Investor · Jersey City, NJ · Member since 2011 · 1k+ posts · 876 votes
9y
Nope, while I get lots of postcards etc, I never got buy offers on my rental ads. Get lots of brokers wanting to list it themselves though. I tell them I'm not interested in tenants so helpless they can't use Craigslist themselves.
Rental Property Investor · Omaha, NE · Member since 2014 · 2k+ posts · 3k+ votes
9y
Keep in mind that the grand majority of landlords do not come to these forums. The grand majority of landlords are accidental landlords and own one property. Many of them hate being a landlord.
These are the people who tell the horror stories of fixing a leaky toilet at 2AM on Christmas Day or the horror stories about a tenant who didn't pay rent for six months and trashed the place costing them thousands. These people are begging someone to take away their problem. The first ambitious person who calls them and presents a reasonable solution could get a great deal.
I will never criticize anyone for taking action. I get mailings from wholesalers and I have had people knock on the door at my house asking if I want to sell. I have received phone calls. I tell them that I am an investor too and that maybe we could team up and do some deals and give them my business card. Very few have ever followed up (their loss).
I personally plan on taking a much more aggressive approach in the near future.
Rental Property Investor · Red Bank, NJ · Member since 2017 · 1k+ posts · 1k+ votes
9y
btw- for those who say put some wording in your add- I imagine you have never rented an apartment with a no pets provision. Man I stamp that all over my listings in all caps and yet 50% of the inquiries I get want to know if it applies to cats, small dogs, "I don't consider my dog a pet, he is a member of my family!", etc.
People want in on the game- That is a great thing for us. I watch what people are paying for multies now by me and it does not make financial sense to me- God bless them! I am convinced- at least in my market, that the best way to get any sort of a profitable deal is to get to the property before it hits the market.
Investor · atlanta , GA · Member since 2012 · 287 posts · 148 votes
9y
@Patrick M. I had to laugh about the no pets policy in your ads. I'm the same way. I have two properties up for rent now, and I also make videos for the properties and post them on YouTube. Like you in all of my ads and in videos I stress multiple times NO PETS OF ANY TYPE INSIDE OR OUT ARE ALLOWED. And the same thing happens, about 50% of the inquires I get have pets.....I actually had a lady tell me one time that her cat wasn't a pet, cats were "different." I still laugh at that one...
Some have mentioned putting wording in the ad that says the property is not for sale, but what I've found from at least three different solicitations is that their systems are automated. Smart for them for using automated systems, but aggravating for the person who gets all the messages.
Any time an ad goes up for a property in an area they're buying in, an automated text, e-mail, or robo-call comes to me. I guess it's just something else to get used to with all the other robo-calls.
This thread might be relevant reading. Bonus points because it'll probably prevent all the automated stuff.
Sure, it's a numbers game, like any kind of cold contacting. The call takes 60 seconds, and even if only 1 in 50 is interested in selling, you would do well.
Even though it only takes 15 seconds to say "no thanks" and hang up, it is irritating to receive calls like this. Something about it just feels disingenuous.
It does not irritate me. In fact it is quite inspirational to think that there are people out there who are so motivated to get a deal that they are willing to do it.
Instead of making fun of these ambitious investors, maybe we should look at the thousands who are paralyzed with fear and never do anything.
This too is a great point. Why not take these investor users names and phone numbers down, ask for their email, then add them to your buyers list so when you do have something for sale, you can approach them.
Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
9y
@Thomas Williamson YES! I am also getting yellow postcards in the mail all the time.
I don't think 80% of landlords are tired or hate land-lording. But I am sure 80% of landlords are annoyed by newbies who want to buy your house for half market value with no cash in hand.
You can try putting a note in your listing that states the house is not for sale.
Investor · atlanta , GA · Member since 2012 · 287 posts · 148 votes
9y
@Steve Vaughan I'll pull a house off the market before I let someone use the ESA excuse to get a pet in my house. Whether it's legit or not, no pets, my house.
Lender · Bellaire, TX · Member since 2017 · 9 posts · 2 votes
9y
This isn't ever going to go away. I have occasionally sold properties to these "investors". I have ended up buying or partnering with 100's of these people though, I have found that this group is usually compromised of 2 parts. 1) Hungry and willing to go to work. 2) Students who just are being taught wrong. Instead of turning them away, try quickly finding out if they are willing to be mentored. If they are, then replicate yourself and find more deals.