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Updated over 4 years ago,
Creating a BUZZ in town
Hey BP family! I have been quiet for a long time, got a few extra deals under my belt, started a family, and ranked up in the Air Force. It's been a crazy year. All of it has led to this; I've landed my first multi-million dollar deal. Fully closed, and I'm taking control in the next few weeks. My new management is postured to take over (with full trust), and we are identifying additional maintenance personnel to come in and start bringing the units up to our standard.
My question revolves around changing public image. I know what people in the area want; once they come in the door and see what we are creating, they want to be added to the wait list. However, what successful strategies have you found in actually getting people on property?
About the property: 230 doors, 2 pools, 2 club houses, 50% of property is direct golf course frontage, bad reputation in town for being run down, actually is run down and in need of renovation, currently running 22% vacancy as a result.
What are we are currently planning: Training personnel to upholding our business standards, renovating units at a rate of 8-10 days per (based on previous experience), changing the name, new signage, creating actual curb appeal through external paint and landscaping.
The real question: When you have actually been successful in turning around a larger property, was it organic? As you progressed, did word of mouth do it for you, or did you start a campaign of some kind?
I am looking at FB adds targeting locals looking for an apartment, they seem like a viable solution. Newspapers are dead in my view, but a few people have told me they had success. Additionally, I've been told simple picket signs/flags lining the property highlighting new ownership and renovations can drum up conversation. Honestly I'm not sure. It's a great neighborhood, we are the ugly duckling for sure; maybe visual construction along is enough to get people curious.
What do y'all think?