I put up a test ad, it’s run for 6 days, and I’ve gotten 9 calls (along with one text message and three emails).
I haven’t run a lot of test ads, but that seems a little weak?
A little backstory: the lot rents are quire high at $360, so I ran the test ad at $550 for a 2bed/1bath 672sqft home which I figured would allow the park to break even on its rehabs (there are some 12x56s abandoned on site).
The park is located in an awesome suburb outside of a mediocre city. Even though the city is so-so the single family houses across the street from the park are selling for $160,000-$200,000. I thought the demand would be through the roof in such an expensive neighborhood.
Main city - 115,000 pop 76k median house, my zip - 20k population 127k median house price.
Also, a small disclaimer, these ads were run in just craigslist and apartments.com. The local newspaper classifieds appears to be dying, with only 3 rental property ads running. Two phone calls to the classifieds to place an ad went no where with a busy signal.
Any thoughts on these test results?