I just got started investing again. And I put out bandit signs on major high traffic areas 40 signs and only received one call. The sign read on a 9 by 24 white sign with black handwritten letters:
We Buy Houses
How do I get started, this is a whole new world? How to make my phone ring and get some business?
First, verify bandit signs are legal in your town. Most ban them. If they're banned, use some other method. Direct mail seems like the most popular method.
Well bandit signs will get you calls... At a snails pace. your best bang for buck is direct mailing. Target your audience.
I have recently started driving for dollars on the SE side of KC. It was amazing to me - in 15 minutes I found about 7 homes in need of repair (I tend to look for roofs that need replacement).
This particular county has a GIS map. This allows me to look up the owner/tax info from the address. I can also click on their neighbors home and view if they have a mortgage on file or not (pretty fancy I thought).
When the owners address was different than the property address, I knew I was looking at either an investor or possibly an inherited property. The county GIS allows me to search properties by owners name. When I found where the owner didn't live at the property, I searched by the full name. Some of the owners owned several properties...some of which need some work.
I just sent my first batch (10 letters) out yesterday. I work a full-time, outside sales job - so I don't want more than a call or two a day (at most). I know 10 letters won't get that, but I have another 10 letters to different owners going out next week, and so on.
Are you able to drive through your target neighborhoods? This might be a good way to learn your area (if you don't know it already).
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