Get Those Houses Sold! Part IV
Part IV
In part I, we talked about our situation. It boiled down to this-excess home, no buyers. And to top it off the market is flooded with excess homes. We left off in part one talking about what you needed to do. Part II talked about your strategies and identifying the problem of your processes. We talked about the potential gimmicks and strategies for selling your homes. What could you offer potential buyers to draw them in? In part three we dug deeper. We talked about if the solutions (from part II) were really going to work. We also talked about whom we were really marketing to and some of our processes.
Now in part four, we will evaluate and decide on our strategy.
The biggest thing you need to realize is that selling with owner financing doesn't mean you can't cash out. Now let's go back to the people you can sell to-the potential buyers.
Maybe one of the things you find in your area too is that there are a lot of people who don't have the income to qualify for any kind of mortgage at all. Their credit is bad but so is their income. Don't think they are the only place like that. You will find that problem in every city you go to but what you want to be careful with is attracting the wrong kind of people.
Your whole focus here is to run owner financing and seller financing ads to attract people calling. And you are going to discover that many of them can qualify for a loan and that it is probably is in their best interest to do so. First you have to get them to call (and that is the only purpose of any advertising for anything, product or service anywhere any time). The idea is to get the phone to ring and to sell the house.
It is your job once they call. Really it is very simple. You have to get them to call and then you have to find out whether they have money, or credit, or none of the above and the rest is easy from there on.
Now if they don't have the credit, you can seller finance them as long as they have some type of down payment or some additional collateral. Or they can even get their parents to co-sign. What you need to remember is any bad credit can be cleared up if someone wants to work on it.
In part five we will talk about what to do next!
In part I, we talked about our situation. It boiled down to this-excess home, no buyers. And to top it off the market is flooded with excess homes. We left off in part one talking about what you needed to do. Part II talked about your strategies and identifying the problem of your processes. We talked about the potential gimmicks and strategies for selling your homes. What could you offer potential buyers to draw them in? In part three we dug deeper. We talked about if the solutions (from part II) were really going to work. We also talked about whom we were really marketing to and some of our processes.
Now in part four, we will evaluate and decide on our strategy.
The biggest thing you need to realize is that selling with owner financing doesn't mean you can't cash out. Now let's go back to the people you can sell to-the potential buyers.
Maybe one of the things you find in your area too is that there are a lot of people who don't have the income to qualify for any kind of mortgage at all. Their credit is bad but so is their income. Don't think they are the only place like that. You will find that problem in every city you go to but what you want to be careful with is attracting the wrong kind of people.
Your whole focus here is to run owner financing and seller financing ads to attract people calling. And you are going to discover that many of them can qualify for a loan and that it is probably is in their best interest to do so. First you have to get them to call (and that is the only purpose of any advertising for anything, product or service anywhere any time). The idea is to get the phone to ring and to sell the house.
It is your job once they call. Really it is very simple. You have to get them to call and then you have to find out whether they have money, or credit, or none of the above and the rest is easy from there on.
Now if they don't have the credit, you can seller finance them as long as they have some type of down payment or some additional collateral. Or they can even get their parents to co-sign. What you need to remember is any bad credit can be cleared up if someone wants to work on it.
In part five we will talk about what to do next!