A New Twist on Using Bandit Signs for Real Estate

05 Jun.

There are many places where you can put out bandit signs. Not only can you put them out on stands near the road, on the highway or in front of your property but I have businesses that allow me to put them in their window and I either pay them rent, a property commission or I pay per lead.

Just keep some signs in your car and stop by 1-2 businesses each day and ask the owner if you can put your sign in the window. As an example, I did this with a local auto repair shop and he has sent me several leads and one of them closed. I purchased the property for $80k and sold it for $100k. The buyer put in $7k and sold it retail for $139k. Now that’s a win, win transaction.

In NC where I do some business, you cannot pay a person a referral fee for an actual transaction but you can pay for a lead. Just be careful and know your state laws. If you’re in a state where they don’t allow paying referral fees you have to pay per lead. Don’t try to do something that’s going to get you in trouble. It will shut you down and give you a bad reputation. Check with your local real estate investors association or contact the state real estate commission to learn your states laws.

In my area, where there are lots of new home communities, there are sign placement companies who will put out open house and new home communities signs for builders on Friday and come and pick them up every Monday morning. If you have these in your area you can hire them to put your ‘I Buy Houses’ sign right along with the new home signs. Think about it. Most people who want to buy a new home already have another one they need to sell first so you are probably the first one they’ll call since you caught them at the exact time they’re looking to buy a new home. When you see all of the new home signs out together then call one of them and just ask who puts them out.

Here’s another idea. Put your signs out near retirement homes and communities. There are many people who drive by them going to the community or retirement homes and they’ll see your sign as many have property they need to sell.

Hire Others for the Grunt Work

When putting out signs in different areas, I don’t put them out myself. You can get a college student, teenager, etc. You could even contact a local church and ask them who may need work or see if you could get the youth group to put them out for a donation. Be sure to check out liability issues as you don’t want to do anything where someone gets hurt, and if they did you don’t want to be liable. I pay $2.00 per sign and they have to bring me back pictures of everywhere they have placed the signs which is included in that two dollars. This is a quality control measure.

I don’t really need the picture, I just want to make sure they’re not going out and throwing them in the dumpster and coming back to collect their $2.00 per sign. If you’re rehabbing properties, and you have a down day; get your rehab contractor to put up some signs. Most don’t mind it, especially if you have a rehab contractor that has helpers. They’ll go out and pay them $1.00 and you pay them $2.00 so they’ve made a profit for the day. great idea, huh?

For more articles and a 10 part e-course on how to create your own Ultimate Buying and Selling Machine! plus over 50 training audios, simply go to http://www.LarryGoinsFreeOffer.com where you will gain instant access!

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This entry was posted on Thursday, June 5th, 2008 at 12:00 am and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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