Two Unique Opportunities For Great Deals by Gerhard Cronje
The marketing strategy and idea that I would like to share in this article can be very lucrative and be well worth your effort.
Two types of facilities in your town that you should definitely be marketing to for great deals are Assisted Living Facilities and Nursing Homes. It is very unfortunate but many of the elderly today have to downsize and sell their homes.
This occurs because of a home that has become to much of a burden to maintain, or, requiring the proceeds of the sale of their home to pay for medical and living expenses while staying at these facilities. One spouse might also be so ill and weak that many opt to move in to an Assisted Living Facility where they can live together but still have some assistance with their daily needs.
Managers, social workers and nursing staff at these facilities are great sources information and will have the inside knowledge of residents who have a "house problem". I would suggest marketing to these professionals in person as well as mailing personal letters that are hand addressed in a white #10 envelope. This will ensure that they will open it and that your message gets read.
Dealing with any seller in retirement can be “touchy”. You will need to be sensitive and understanding, and truly listen to their needs. Most of their homes are owned “Free and Clear”. If you play your cards right, you may be able to structure a lease option or some form of owner financing. This will help them to be “hit” with less of a tax loss, and provide income to pay for living and medical expenses.
Potential obstacles may be their children who would like to be part of the negotiation process. Honesty and laying all the options on the table is the best strategy here. If you have a credibility kit, this will also help remove fear and can ensure a smooth negotiation process.
It is sad, but many of these types of sellers do not have family. Their view of the value of their home can also be far less than what it is really worth in todays market. Be ethical and always think win-win with these individuals since liability can be a factor if you treat them dishonestly.
As always there are a hundred ways of skinning a cat, you just need one good way – I hope this idea helps, and I am sure it will work for you. With increased competition and less flexible sellers in our present market, this is a strategy that can give you and advantage.
Gerhard Cronje has been a real estate investor for 6 years. He used to work in the medical field as a physical therapist but because of “burn-out” turned to real estate. He now resides in Daytona Beach, Florida and his specialty is lease options and marketing - finding unique and creative ways to locate deals before his competition is his niche.
Copyright 2002-2008 All Rights Reserved.
Published with Permission of Author.
No part of this publication may be copied or reprinted without the express written permission of the Author and/or REIClub.com.
Printer Friendly Page
Send This to Friend
