Finding buyers/investors, bad advice?

Question

Recently bought a course to help me focus on my goals and jump start my marketing. The first lesson however was to amass a buyers list. The lesson essentially says to create a fake ad for a house that needs tons of work, and have potential buyers interested respond with their name and number. Upon calling them, I'm supposed to apologize that the "fake" house has been sold and use the opportunity to ask them for their specific criteria for future deals.

This seems shady and dishonest, especially for beginning a very important relationship with future partners with a lie.

What are some better, more ethical strategies for finding buyers? I am already going to REIAs, etc. I would like to try a variation of this strategy of posting ads, but not with fake deals. Thoughts?

Michael Carbonare · Answer

Describing ghost ads as malicious might be pushing the envelope.  I understand your thinking and I understand why some investors take that approach.  For me, it's putting the cart before the horse.  As I wrote above, finding the deal is where you spend your time and effort.  Get a good deal, get the word out, and the buyers will respond.

Pete Storseth · Answer

@Michael Carbonare

Yes I'm ramping up to go into my marketing campaigns this week. But to have a buyer is also necessary, isnt it kinda malicious to do it the way this course tells me to? I was starting to put together the data for the fake ads and thought, wouldn't it be better if I had already gotten a deal or at least asked some flippers what their criteria was? Then, I'd be posting ads on CL anways.

Michael Carbonare · Answer

Pete, focus on finding the deal.  By far, that is the part of the process that will require your time and effort.  Finding the buyer, tenant/buyer, or tenant is usually the easier side of the equation, assuming you market aggressively and your asking price/terms are in line with the local market.