For anyone considering using Craigslist....I would say "DO IT"! I also do some direct mail but not enough that I have generated any deals! However, within the past 2 months I was able to get two properties under contract through ads on Craigslist. The first was a 3.2.2 SFR. It was going to a tax sale, and owner was motivated, and I completed a purchase before the sale. I purchased it for 70K and did about 13K or thereabouts in rehab. It is rented at $1095 per month. It would sell today for around 120K. It came to me from my ad on CL.
Then, last week I signed a contract to purchase a condo. Got the seller from CL. They contacted me, stated their asking price (also stated they were selling it for 1/2 of its value), and of course...I said YESSSS! So, we have a contract and it is at the title company.
So.....if you are wondering about CL...and if it works...YES IT CAN! When the opportunity arises....seize it!
@John Thedford What are you saying in your CL marketing? How often do you place the ads?
@Andrew Hofing I am saying the usual stuff everyone else does..."WE BUY HOUSES"....."FAST CASH FOR HOUSES".....
The first thing you must do is get their attention. When you get a live potential seller you have to make the deal. I believe the key to that is being honest, making promises you will keep, and making it a win-win situation for both parties.
I have posted ads with the typical "we buy houses", "sell your house for cash", etc and the posts get deleted in less than 5 min. Have that happened to you? Would you mind sharing your approach to posting ads (in what section you post them, how often, do you include a phone number on the ad or just use the default reply button?). Thanks!
I do get flagged. If your ad goes down right away it is probably CL that has "decided" your posts are spam. You will need to write the ad differently...the title and the body to help keep this from happening. I also click on the "best of" button at the bottom hoping this helps keep my ads up.
Great blog post suggestion on avoiding competitor flagging, where most flagging comes from:
I tried that and didn't have much success. I now click on the link opening the ad in a new window and then click on the "best of" button. I can't say for sure if that helps. Once your ad is flagged to the point CL recognizes it as "spam" it gets flagged immediately by their computers and never makes it live for viewers. This leaves posters having to write different copy and even having to open new CL accounts.
Where on CL are you posting your ads? If I come across a WE BUY ad in the FOR SALE section, I flag it every single time. Nothing against anyone that markets their business in appropriate forums, but when I am searching for deals I don't want to sift through buyer ads.
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