Rental Property Investor · Edmonton, AB · Member since 2017 · 2 posts · 1 vote
Hello fellow investors,
Looking to start my RTO company sometime soon in Ontario. However, have a few questions that I hope you can help me with.
First of all, I do have all the contracts on hand, however looking for the right real estate lawyer to help me review them. Could anyone here recommend me one in Southern Ontario? In addition to that, how much would a typical lawyer charge for such a service?
Second, what is the best way to market RTO to potential buyers? Flyers, door hangers, social media? Anything else am I missing?
Lastly, what is the best way to find investors with whom I can partner and do my deals (I always do "tenant first RTO strategy")?
Actually, If you are an investor from Southern Ontario (Golden Horseshoe), give me a shout and let's meet up! The more of us the better!
Real Estate Broker · Ontario · Member since 2017 · 4 posts · 2 votes
8y
The best way I've found to get these leads is Facebook marketing. Kijiji is also an option, as well as Google AdWords stuff.
Set up a simple landing page to collect their info & give them a call. Cheapest leads I've ever got was the rent to own / bad credit / no money down buyers, there's a huge market for it in my opinion.
I haven't done any of these types of advertising in a couple years, but when I did the response really surprised me.
Real Estate Broker · Ontario · Member since 2017 · 4 posts · 2 votes
8y
The best way I've found to get these leads is Facebook marketing. Kijiji is also an option, as well as Google AdWords stuff.
Set up a simple landing page to collect their info & give them a call. Cheapest leads I've ever got was the rent to own / bad credit / no money down buyers, there's a huge market for it in my opinion.
I haven't done any of these types of advertising in a couple years, but when I did the response really surprised me.
The best way I've found to get these leads is Facebook marketing. Kijiji is also an option, as well as Google AdWords stuff.
Set up a simple landing page to collect their info & give them a call. Cheapest leads I've ever got was the rent to own / bad credit / no money down buyers, there's a huge market for it in my opinion.
I haven't done any of these types of advertising in a couple years, but when I did the response really surprised me.
Thanks John!
That's exactly what I thought. Novadays, Social Media and Web in general becoming a huge marketing vehicle.
Still thinking about the old ways though, like flyers and door hangers..they still might bring a lot of potential buyers.
Real Estate Professional · San Antonio, TX · Member since 2017 · 28 posts · 11 votes
8y
Hey @Vitaly Zavgorodnev! I would second what @Warren John said about Facebook and AdWords marketing. Getting in front of those customers that are looking for you instead of you having to look for them really helps with making sure the motivation of your leads is right. Good luck!
Rental Property Investor · Toronto, ON · Member since 2017 · 37 posts · 9 votes
8y
Hey Vitaly!
I am also into RTOs and have done one 2013-2016, and it worked out perfectly. In fact backin 2013 I wanted to do RTOs only and have ten or so. The issue is with the financing. How would a partnership work in your view?
I don't mind investing the $ if it makes sense...
Investor · Kitchener-Waterloo, Ontario · Member since 2008 · 1k+ posts · 1k+ votes
8y
I'll chime in agreement on facebook (both ads and local groups), kijiji, even craigslist if you want to do deals in the GTA. As for 'old' marketing, signs are still great, as are open houses. A "Rent to Own Open House" sign still brings a stampede because it's so rare to see. I wouldn't bother with flyers or door hangers.
Another thing you could try is to call up mortgage brokers and see if they have any clients they couldn't qualify for a mortgage, but who could qualify with some assistance over the next couple of years.