One of my property deal sourcing students just messaged me today saying that he’d tried one of my local guerrilla marketing tactics (more on that later), and had started seeing results within a couple of hours.
I remember being surprised myself when I first started applying these techniques...
I’d put a sign up and have missed calls and messages on my phone by the time I got home.
I think everyone assumes that discounted property is hard to come by...
That you have to be somehow “lucky” to find a 30% discounted property.
But that couldn’t be further from the truth.
You just have to know where to look.
And more importantly how to look.
Let’s start with the where though.
Or actually, where not to look.
Although it may seem like a natural place to start, estate agents are a terrible place.
I bought my first few buy to let’s at estate agents.
And being up against the competition with other investors -- and even residential homebuyers -- I ended up not only not getting much of a discount, but even paying over valuation in a couple of cases.
I knew there had to be a better way, but it wasn’t until years later that I discovered that way…
Going direct to motivated sellers.
Once I discovered that, I grew my portfolio from a handful of properties to well over 30 in the space of a couple of years.
So, what was the method that my student used?
My student was using flyers, but not just any old flyers: handwritten ones.
It’s what’s called a “pattern break”.
You see, people are so used to seeing printed material come through their letterboxes, that they eventually become “blind” to them.
A handwritten note is more personal, and somehow sneaks under their corporate “B.S. detector”.
These were just home made photocopies of a handwritten note.
My student delivered about 200 of these at a rate of about 100 per hour.
The main annoyances he experienced were pet dogs, and sore feet.
But he had missed calls and messages on his phone by the time he got home.
Not bad for a couple hours work!
Can you pay someone else to deliver them too?
Sure, but just be certain that you have some way of checking they get delivered, in case they get dumped in a skip (this happened to me once).
So called because in most cases you’re not really supposed to use them.
These are cardboard or "correx" signs (again, handwritten is fine), attached to lamp posts or railings in the area you’re targeting.
In order to minimise the risk of a fine or a telling off from the council, you can either put them in places where you see them already, and/ or in non-residential areas.
I had one of my best deals ever via a bandit sign, so I can vouch for their effectiveness.
If sore feet and the risk of a fine don’t sound like trials that you’re prepared to endure in the course of your property deal sourcing activities, then there is another way...
Have someone else do it for you.
For a fee, you can have a professional sourcing agent find, negotiate and prepare deals for you.I suggest you join our property deals alerts service today, to see what’s available.
These deals are supplied on a first come first served basis, but be prepared to move fast when you see something you like, as these are some of the best deals around.
Whatever deal sourcing method you decide to go for, I wish you all the best, and I’d love for you to let me know how you get on.