Dayton Rental Property: Cashflow!
To the far north end of Dayton, this Dayton rental property is a great buy and hold in a stable, mature neighborhood. My favorite preference is still buy and hold forever, but this would be a great property to sell to a Lease Option tenant or on Land Contract for those of you who are looking for that exit strategy.
This Rental Property is 2 Bedrooms, 1 bath, 972sf, 9 foot ceilings, original woodwork and trim. Full basement could be finished for more living space. Walk up attic for storage. New Architectural shingles recently installed. 1 car garage, and a fenced yard
Some interior paint and shower surround are the top priority. To get the best rent, and the best tenant, you should update the electric and the furnace, however, what is there does work fine. The rest of the property is all in good condition.
Doing everything right, total repair total about $5,000. For a small fee, we can oversee the repairs for you.
Property Manager is ready to go on this property.
Additional Pictures here: http://goo.gl/UFVEQD
Taxes: 85 (est)
Insurance: 40 (est)
48 E Siebenthaler, Dayton, OH 45405
Cheap Real Estate Marketing
I was asked recently how I do my real estate marketing for under $100 per month. It’s a great question, especially when you’re getting started with minimal money available.
I do enough real estate marketing to close my target of 1-2 deals per month. I could do more deals if I did more marketing. I may do more again, but now this is how busy I choose to be.
You can outsource much of this work when you have enough cashflow. But when you have more time than money, this is the way to do it.
- Google Voice. It’s free. Get your own dedicated number for marketing and forward it to your existing phone. There’s enough storage so you have a virtually unlimited voicemail box. Of course, you should still answer as many calls as possible.
- Free online ads. Craigslist is still the champion here, but there are others. Everybody else is on there too. So what? It still generates leads.
- Website. You can point the online ads to a website if you want, but most people call the phone number. Some people do go to the site from the craigslist ads and submit online. Only one seller in the past year has said they chose to contact me due to my DaytonHouseBuyer.com site. $10 per month.
- Bandit Signs. If money is tight, you can buy a few locally and write on them yourself. About $5 per sign, and a really big Sharpie. Once you’ve got the funds, go online and order 100 preprinted signs for under $400. They’ll last a while, especially if you only put them out on weekends. Be aware of local codes and enforcement. It’s unprofessional to mess with other people’s signs. I won’t mess with yours, but don’t steal mine either.
- Vehicle Lettering. Either decals like you see here, or magnetic signs. The decal pictured was about $60. Magnetic signs are about $50 per pair and should last a couple of years. Put one on the back for those tailgaters too. Park creatively everywhere, it’s about visibility, not convenience. Just don’t be obnoxious like the person who takes four spaces for their precious car.
- Business Cards. A box of 500 is $20-25 online. Watch for specials too. Go to various networking events, especially those with real estate related themes. A real estate agent referred a recent deal to me when they wouldn’t list it due to the houses condition.
- Network. Join your Local Real Estate Group. Meet people who have the same interest, and are potential buyers and sellers. Price varies locally, In Dayton it’s $150 for one year, Some groups are free. Google and Meetup can help you find a local group. If you’re in Dayton, contact me and I’ll get you connected.
- Talk. Talk is cheap, even better it’s free. People need to know what you do. Tell everyone, just don’t be like the stereotypical MLM convert. My barber bought a home from me as a result of casual conversation.
- Call. Call every “We Buy Houses” sign you see. I’m actually amazed at how few answer the phone, or even call back. The competition is not as strong as you think.
- Call. FSBOs. Many are FSBO because they have an inflated sense of value, or too large a mortgage. However, there are some deals here. And it’s great practice for talking to sellers.
- Direct Mail. I do a little, but very selectively. Some vacant houses, a few expired MLS listings. Less than 20 letters or postcards per month.
This is what I do for marketing each month.Can I do more? Absolutely. But I choose not too. We are in this business to create a lifestyle, not work 80 hours a week. For under $700, I can do my marketing for year. For under $1200, I can probably cover two years. So I guess that works out to $50 per month average over two years.
When I want to ramp up the business, I’ll do more Bandit Signs, and talk to a couple of friends about putting signs on their cars. I’d also start a direct mail campaign, targeting my desired properties.
There you have it, Cheap Real Estate Marketing. Of course, you could still get deals doing just the Free marketing too.
Did I miss any cheap real estate marketing ideas? Please add a comment below.
Going to the Ohio Real Estate Investors Association (OREIA) Conventions can lead to more than real estate investing. In this case it led to a permanent Joint Venture.
Check out the Real Estate Wedding at OREIA. Take a minute to read the vows too, they’re a riot, if you’re into real estate.
Guess where the OREIA Wedding anniversary party will be?
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