OfflineSince not to many people are able to sell their house in today's market many are turning to an alternative that has hit my section of the world like a title wave. HOUSE RAFFLES!
There are so many house raffles in my area that I decided to check out the basis of such an operation. here is what I found...
You cannot legally have a house raffle without a charity involved. Designate a charity that will receive any proceeds over that which you are asking for your house.
You can charge $100.00 a ticket and sell the amount of tickets needed to purchase the property. Ex. 1,000 tickets equals $100,000.00. So if your asking $200,000.00 for your house then you must sell 2,000 tickets. Then once you reach your goal raffle off the house. A Lucky winner will be getting a $200,000.00 house for $100.00.
Donate some of your profit to the charity of choice. This is such a great way to give to help others and sell your property. It's a win win!
Is this crazy or what?? Anyone have any experience with this?
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
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To your success,
Carol Stinson
Obviously, you must abide by state gaming laws and the title to the home must be in the charity's name.
Here is a link that has a pretty good FAQ tab.
http://www.westervillehouseraffle.com/3.html
"Whether you think you can or can't, you are probably right" Henry Ford
The first step is to run an ad in the paper that says something like:
Handy, investor special
Great deal for rehabbers!
555-555-5555
OR
Investor special
Thousands below market--Won't last!
555-555-5555
When investors begin calling, get their information. Take their name, number, fax, and email, and put that information in a database. Then the next time you find another deal, you'll have a list of buyers. Run your ads for sixty to ninety days. Even if you sell your property the next day, keep the ads running.
Tell the investors that the property sold; however you are working on another, and ask if you can you call them once the deal is finalized. They will always say, "yes." Our buyers list has close to one thousand names. We have been collecting them for years.
faster you find a buyer, the faster you get paid.
Here are some sample questions to ask potential buyers:
What is your name?
What is your phone number?
Do you have a preferred area?
Can you close with cash immediately?
Can I call you in the future with good deals?
What is your price range?
"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote