Profiting from the real estate downturn, part II
Yesterday we talked about how Realtors can profit by targeting rental buyers, and how others who provide services should step in now and market themselves to Realtors who list repossessions.
Now think for a minute about becoming a rental manager, taking care of details for those rental buyers and freeing up their time to find and buy even more.
Not only will you make a nice little side income, if you happen to be a Realtor, you can put yourself in a firm position with next year’s home buyers. Of course, if you manage enough units, your income could be substantial, so if you like it, go for the gold!
But back to next year: You begin by treating your tenants very well – making sure that they not only like but trust you. Then you offer to show them ways to improve their credit scores, save money, and have the down payment they need for a home sooner instead of later.
Read the book: “Drop Your Debt Fast” and share tidbits with them – encourage them to get it for themselves and get busy. Counsel them on all the things they should and shouldn’t do while they’re building that credit. And when they’ve made progress, begin telling them about homes they can afford. In short – create a group of “buyers in waiting” who will turn to you when the time is right.
You non-Realtors who offer cleaning, repair, remodeling, landscaping, staging, accounting, database management, etc. should get in touch with the agents who follow my advice and create a list of rental owners. Show them the work you do and ask for a referral to those owners.
Again, when you approach the Realtors present yourself as a professional – dress the part and carry a well written brochure plus business cards. I showed you yesterday how to get the business cards for just the price of shipping… and your brochures need not be expensive, either. If you use the right paper, you can even print them from your own computer.
Just make sure that your brochure focuses on what you’ll do for the prospect – make sure you don’t fall into the “I, I, me, me” trap that makes so much marketing a waste of time and paper. If you can’t figure out how to write a Customer-focused brochure, or if you’re unsure of your own grammar and punctuation skills, write me.
To make yourself look even more professional, why not go back to Vista Print and get a Free Car Door Custom Magnet? Then those rental owners will know at a glance what you have to offer – and you could get calls from people who haven’t seen your marketing elsewhere.
OK, keep squeezing that lemon -