Hi everyone, I am starting my investing business and trying to do a little wholesaling in order to build extra capital. What are your opinions on putting out bandit signs?
Congrats on starting in REI! I have not used bandit signs. There are many opinions on them - also there are many ordinances regarding them as well so make sure you know what legally applies in your area. If I was a seller and I saw one, it would have to be in a place where I could actually make note of the phone number . . . which means at a stop sign, traffic light, etc. And that's where the police/code enforcement (or angry property owners who are NIMBY) llike to take them down. My personal opinion is they're not on the top of my marketing list (though they ARE a relatively cheap way to start out).
Thanks for your advice @Christina R., what marketing technique would you prefer that will generate the most motivated seller calls?
Before you invest in signs you want to check the local laws. In some places, it's places where you can and can not place the signs.
@Christopher Williams Business cards and direct mail. Business cards can be had for not that much money and you can sprinkle them everywhere you want to target. It might or might not give you immediate results but it never hurts to get your business out there. Direct mail gets you to home owners directly. For the money, you can't go wrong.
Yes they're effective but they come with risk like others stated. It's not something I do personally cause I don't want the troubles that may come with it. I definitely agree with the alternative of direct mail or just word of mouth. It doesn't cost anything to be that annoying guy who is constantly reminding everyone he invests cause when the time comes they'll remember you.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.