Very nice. Thanks.
I do not want to get into a pissin match with Frank here… I agree in general that many people still go to printed ads- but… I have a park in a midwest town, 110,000 people, major university, auto production plant, level 1 trauma center, pharmaceutical manufacturing plus other large manufacturing plants…The entire town has 85 classified ads. 1/3 of all of the ads are real estate related. Craigslist just today- the 13th of Feb had about 150 posts that were real estate related. My point- some markets have very weak print media… to get everyone you should run ads in both places. We posted a 3/2 singlewide today, and by 4pm we had an approved buyer bring in $2,700 and sign a lease / option. Like clockwork we have 2-3 people reply daily to our posts. If we had the inventory we could sell 2-3 homes per month.point is- every market differs…
Thanks Jim, as an inexperienced investor, I appreciate your alls feed back.
we are all inexperienced. When people start believing they are done learning, well, they are done learning. Some of the largest companies in the world think they have a process or widget mastered, next thing they know they are yesterdays news. For instance- I pick up the yellow pages- never…I google, bing, yahoo or web crawler daily…
I agree with Jim Johnson on two points:1.) Craigslist is a great advertising venue (We use it exclusively and get a ton of interested Tenants.)2.) We are all inexperienced. (I am always learning something new. :-)Louvie, we wish you the very best!
I also want to chime in – Like Jim & Kristin and others I’m sure, I think we are all inexperienced in one way or another and there is always something new and different going on – that’s what keeps things interesting and busy! This forum is a great resource because what is new for one person is old hat for another.Brandon@Sandell
@frankrolfe if I only have empty lots and no POHs and no intentions of purchasing a POH, would I still advertise a home for sale/rent? If so, why? Why wouldn’t I advertise just the lot? Thanks
Older post but good one. We are in a new market where we do not fully know the best media avenue, ads verbiage, etc.
But some points we can take from all the good posts above are:
- Get to know your market, demographics and competition so you better target your market [Frank]
- Test your market - keep learning about about it [Jim -fellow geek
] - We are all learning, all the time - our current market is very capricious [everyone]
]For us, we are currently testing Multiple avenues and most importantly Tracking the data.
Keep in mind the following
- Make an informed, educated hypothesis
- Experiment and do tests
- Don’t be afraid. FAIL FASTER, then pivot
- Track your data!!!
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