OfflineHow do you go about finding buyers for lease options?
Currently I have a ghost add up on craigslist to which I have only gotten one response to in a 4 week period but this person didn't have a big enough down payment.
I have been holding off finding sellers for Lease options because I just can't find buyers.
Are there any other ways to find Lease option buyers? As I am currently unemployed I really do not have a budget for advertising so I would prefer less expensive options.
Here is my current craigslist add:
Rent to own in good area. Bad credit, bankruptcies and foreclosures ok
___ area investor has homes available in good area
Rent to own from $10k down (fully credited toward purchase price) and $1995/mo (partially credited toward purchase price).
Bad credit, good credit, bankruptcies and foreclosures OK.
Let us help you own the house you deserve.
When responding to this ad, place the words "American Flag" in subject line.
I also include a picture of a random (good looking) house in the area, my cell phone number and e-mail address.
If you have any improvement suggestions please let me know.
I would say at first glance it's a lot of money. I don't know the area you're working in, but $2k a month for rent is lot for the average person to come up with. Even with some of it getting credited toward purchase price. Going off typically guidelines of no more that 25% of your income for rent, that means they'll have to earn $8k per month.
Possibly try removing the numbers to see if you get more calls, and then get into the specifics in the call.
Hope that helps,
- Tom
Your numbers are very high in the advertisement. 10K is steep as well as the 2K rent. You can put a sign in the yard as well for the home. talk to everyone about the home you have as well. Maybe you want to target bread and butter homes around 120K-150K is a good range depending on the area, low end maybe 80-150 or higher end 120-250K. You have to know your area. Also do a trulia search to see where homes are selling in the area you work in. Trulia heat maps. Google your area and put trulia heat maps for this! Best of luck!
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