• Save
Lease Option Homes Marketing Tips
Upcoming SlideShare
Loading in...5
×
 

Lease Option Homes Marketing Tips

on

  • 974 views

So you have been on a course or read about lease options, but how do you get started? Read these great marketing tips to find property or tenant-buyers to lease option. Written by marketing expert, ...

So you have been on a course or read about lease options, but how do you get started? Read these great marketing tips to find property or tenant-buyers to lease option. Written by marketing expert, Vanessa Atkinson BA(Hons) MCIM.

Statistics

Views

Total Views
974
Views on SlideShare
970
Embed Views
4

Actions

Likes
0
Downloads
1
Comments
0

1 Embed 4

http://www.linkedin.com 4

Accessibility

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

Lease Option Homes Marketing Tips Lease Option Homes Marketing Tips Presentation Transcript

  • Author: Vanessa Atkinson BA (Hons) MCIM
  • Before you start creating marketing communciations to find lease option properties or tenants, it’s important that you take a moment to think about: • Who is your target audience? • What is the market (geographical location) you should focus on? Putting some thought into these upfront will save you time and money The information in this pack has been split into 3 sections tailored to the type of interest you have in lease option homes 03/07/2013 Copyright © Lease Option Homes 2
  •  A common misconception after placing one advert in one type of media is that it wasn’t worth advertising there. Consider the following:  Opportunities to see: how many times could someone happen upon an advert (in whatever format)? Did they see it e.g. on Twitter or Facebook, perhaps they missed the notification in Twitter when it went out  Timing: when and how often? Should you post a social media ad on a Monday or Friday? Should it appear once or six times /day /week /month?  Media types: potential customers may prefer local newspapers, others may communicate on social media, and what about the growth of websites for smart phones? People find information in different ways  Messaging: clear, simple information, relevant to the people you want to reach. Writing a good advert is not covered in this pack, but one thing to watch is that the phone number / web / email address is clear and correct  You need to create awareness, build trust and then sell.  Comment: from experience, a mixture of free on and offline advertising for a few weeks got the quickest results to finding property and tenant- buyers – our website, social media sharing, email to the tenant-buyer database and local paper advertisements 03/07/2013 Copyright © Lease Option Homes 3
  •  Do not waste time and money on marketing a house as a lease option if it is not a property that people want to buy. No matter how well you market a house, if it’s badly in need of modernisation in a really rough area and the size of the property is not what people are looking for, you will struggle to find a good tenant-buyer .  NB: Some people are prepared to move in as a tenant-buyer and renovate the property instead of paying rent money, but this is not common and you still have to cover any mortgage payments.  Set the scene in your property: put a welcome mat at the front door, towels in the bathroom, make up the bed, add plants to the living room, use scented plug-ins, etc. This doesn’t have to be expensive; just make sure the house is clean and well presented.  A generous rent credit towards a tenant-buyer’s deposit (e.g. 50%) will sell your home over someone else’s - after all, the tenant-buyer needs a deposit to buy from you at the end of the lease. If necessary charge a little more for the option fee. 03/07/2013 Copyright © Lease Option Homes 4
  • 03/07/2013 Copyright © Lease Option Homes 5 You currently own a property that you would like to lease option • Go to pages 6 to 8 You are an investor creating or expanding a portfolio using lease option properties • Go to pages 9 to 12 You are a lease option sourcing agent for investors • Go to pages 13 to 15
  • Using an existing property you own to create a lease option home 03/07/2013 Copyright © Lease Option Homes 6
  •  You already own a property that you have decided to lease option, so the location is fixed.  But who is your target audience?  Your ideal tenant-buyer will be the types of people who bought or rented similar properties in the local area to your property.  For advice, contact your local letting agent and estate agents to find out: ▪ the age range, ▪ status (e.g. families, students, single people, couples), ▪ employment status, ▪ monthly rental payments achieved, ▪ actual selling price achieved on similar homes (not asking price). 03/07/2013 Copyright © Lease Option Homes 7
  • Social media Facebook LinkedIn & Slideshare Twitter and Hootsuite Google + Websites Gumtree & Craigslist Flikr, Instagram or Picasa You Tube Property sites Networking & Data Lettings agents Property events and seminars Email marketing Offline advertising Local Newspaper Signage Leaflets 03/07/2013 Copyright © Lease Option Homes 8 Click on the links to read more. These are the main advertising platforms used for lease option homes.
  • Using lease options to create a property portfolio 03/07/2013 Copyright © Lease Option Homes 9
  •  Use reports to identify the areas/towns that will attract lease option tenant-buyers (Halifax publish good online reports). Make the following regional comparisons:  Evaluate regional selling price changes for areas trending upwards overall  Mortgage affordability houseprice to earnings ratio and mortgages as a percentage of income  Also find out if there are any regional business growth plans requiring significant employee hires  When you select a region, select upto 3 towns using Zoopla to identify towns with good rental demand  Speak to local letting agents to find out which streets to invest in, number of bedrooms and what kind of rent rates you can expect to gain  Ask local estate agents which streets and property types sell quickest in those 3 towns 03/07/2013 Copyright © Lease Option Homes 10
  •  The local estate and letting agents in the 1-3 towns you have chosen can also give you guidance on the typical buyers and renters to which they sell or rent most properties  When speaking to them, find out the following:  the typical age range,  status (e.g. families, students, single people, couples),  employment status,  monthly rental payments achieved,  actual selling price achieved on similar homes (not asking price). 03/07/2013 Copyright © Lease Option Homes 11
  • Social media Facebook LinkedIn & Slideshare Twitter and Hootsuite Google + Websites Gumtree & Craigslist Property sites: motivated sellers with multiple agents and /or for rent Networking & Data Lettings agents Property sourcers Email marketing Offline advertising Local Newspaper Signage Leaflets 03/07/2013 Copyright © Lease Option Homes 12 Click on the links to read more. These are the main advertising placements used to find property for lease options.
  • Social media Facebook LinkedIn & Slideshare Twitter and Hootsuite Google + Websites Gumtree & Craigslist Flikr, Instagram or Picasa You Tube Property sites Networking & Data Lettings agents Property events and seminars Email marketing Offline advertising Local Newspaper Signage Leaflets 03/07/2013 Copyright © Lease Option Homes 13 Click on the links to read more. These are the main advertising placements used to find tenant- buyers for lease options.
  • Finding lease option homes for investors to build a property portfolio 03/07/2013 Copyright © Lease Option Homes 14
  •  Build good relationships with a database of active investors and property agents who can use your deals  Network at local and national property events and let people know what you do  Join discussion groups in LinkedIn e.g. http://www.linkedin.com/groups/Lease-Options- 2291802 to contribute to questions and answers, then post any properties you source  Find out which towns these people buy property  Property suitable for lease option is where the owner is not in trouble financially or behind on payments, but motivated for other reasons e.g. has two properties due to moving in with a partner or inheritance, no longer wants to be a landlord, has had a job transfer with paid accomodation, etc.  You could package up other property e.g. for other agents/ investors as BMV, renovate and sell on, or sell with a tenant in situ 03/07/2013 Copyright © Lease Option Homes 15
  • Social media Facebook LinkedIn & Slideshare Twitter and Hootsuite Google + Websites Gumtree & Craigslist Property sites: motivated sellers with multiple agents and /or for rent Networking & Data Lettings agents Property sourcers Email marketing Offline advertising Local Newspaper Signage Leaflets 03/07/2013 Copyright © Lease Option Homes 16 Click on the links to read more. These are the main advertising placements used to find property for lease options.
  • Further details on the range of media available for advertisements 03/07/2013 Copyright © Lease Option Homes 17
  • Social Media: Facebook •Demographics •Optional paid ads: make sure you narrow down the amount of people you want to reach. You can do this by specifying the location, age, and adding “precise interests”. See examples 03/07/2013 Copyright © Lease Option Homes 18
  • Social Media: LinkedIn & Slideshare •LinkedIn demographics are shown in the tables on the right. •Create and link to a slide show of the property posted to Slideshare.com – can also be posted to a LinkedIn profile •LinkedIn bought Slideshare.com on 3 May 2012 for $119M •There are 50M users of slideshare 03/07/2013 Copyright © Lease Option Homes 19 Source:https://www.quantcast.com/linkedin.com?country=GB
  • Social Media: Twitter & Hootsuite • Twitter is free to share links to images, video or slideshares so is a (limited) means to finding a tenant-buyer or property. • If the people you are trying to reach are not reading tweets at the time you post them, they won’t see your advertisement so “Tweet” it multiple times. • Using Hootsuite (see tutorial) to save time, you can freepost your advert to your social media accounts at once. 03/07/2013 Copyright © Lease Option Homes 20
  • Social Media: Google+ • Demographic data is only available for US • This is a newer social media platform and worth looking at as it can help boost your website SEO rankings • Use the free stuff e.g. create a page https://plus.google.com/p ages/create or set up an account and share your advert just as you would on Facebook • Further reading: http://memeburn.com/20 13/07/google-why-your- business-cant-afford-to- be-missing-out/ 03/07/2013 Copyright © Lease Option Homes 21
  •  You Tube video (under 3-4 minutes) of the property linking to your ads on other sites, e.g. a walk through with voice over, ensuring plenty of light when filming.  Gumtree and Craigslist: create multiple versions of your advert and post weekly: e.g. “For Rent” and “For Sale” for tenant- buyer ads; “We Buy Property” and “We Rent Property” for property ads. Make subtle changes to headings and text or pictures, post from different email accounts and computers.  Flikr, Instagram or Picasa: take images in good light with a warm hue for linking to a full ad on another site  Property sites: REIBlackBook, backpage, kijiji, oodle, google base, owners.com, zillow, trulia, rentdigs, hotpads, rightmove, leaseoptionhomes.co.uk 03/07/2013 Copyright © Lease Option Homes 22
  •  Lettings agents – offer a finders fee or agree that they manage the letting for you as there  Property events and seminars. Investors with lists of tenant-buyers often attend these. You will also find property sourcers. Here are a few event organisers to Google but there are many more that are probably just as good:  http://www.propertyinvestor.co.uk/  Local Property Investor Network (PIN) clubs  Ben Rogers  Mark l’Anson  Rick Otton  Tigrent / Rich Dad Poor Dad  If you have previously sold property you may have a list of tenant-buyers. You must follow Privacy and Electronic Communications Regulations, ensuring that you have people’s permission to email your advertisement to them  Property sourcers can be found on LinkedIn or Facebook groups (lease options or BMV) or property events. They will charge a finders fee, but typically source properties that are 20 to 40% below market value (BMV). 03/07/2013 Copyright © Lease Option Homes 23
  •  Local newspapers are still a source for tenants to find rentals but are dwindling in popularity with the growth of social media, property sites and Smartphones  Signs: place a sign at the front of the property e.g. “Rent To Own, Low Downpayment, Your Credit is Approved”, and add your telephone number and website address. Try hanging leaflets in a plastic wallet for people to take. (Bandit signs around the neighbourhood on property that isn’t yours is illegal)  Leaflets can be used for property that seem vacant or unkempt that you want to buy. Leaflet the houses around it in case a neighbour knows the owner. 03/07/2013 Copyright © Lease Option Homes 24
  • Visit our website www.leaseoptionhomes.co.uk Email us: info@leaseoptionhomes.co.uk Call: 0844 544 2404