Post a Coming Soon Sign at Flip?

Question

Jeff Filali · Answer

Yes, I do this and advertise them on website, CL, etc. from day one, and also put "we buy real estate" sign up as well.  Yes it will generate some tire kickers, and realtors, but it will also generate potential buyers for that property or other properties you have, and potential other deals.  In fact last month I had someone call off a sign at one property I was just starting on, and they ended up buying another property I had ready a few miles away that they hadn't seen.

I've also had a property I was getting ready to start rehabbing, and the day I posted the sign in the yard, another investor called, and I ended up selling it to them without rehabbing.  It was a win, win.  I made a quick profit, and moved on to another property, and they got a property to flip, which they had been looking for.  I'll sell any property I have before, during, or after rehab if the price is right.

Jeff Wallace · Answer

@Jason Lavender

We had signs made up that say "Another project by (insert company name)" and we add a "we buy houses" rider - I have had some success with pre market sale/lease and it has generated a couple of additional purchases - Go for it! nothing to lose

Happy investing

jeff

John Thedford · Answer

I would do so. I would make sure the house is locked, has lights on, etc. I don't see any difference between doing this and having a "for sale" sign in the yard. Vandals and thieves are always a threat to ANY vacant property. It would not hurt to start advertising it on CL as well. I would make it a point to do daily inspections if possible.

Doug W. · Answer

I put a sign in the ground shortly after I close on the purchase. I also use a sign rider that states something to the effect of that I buy with cash. It occasionally refers phone calls from people who claim to want to purchase the house. I take their contact info down and send it to my Realtor. The only issue is that, generally, if a person is calling because they saw my sign they more often then not do not have a Realtor that they are using nor have they been pre-approved for a mortgage. In other words, they are just tire kickers.

I did once receive a call about 2 weeks into a rehab from a guy who wanted to buy my house with cash and do a live-in rehab. He said he is in the construction industry and does such a project about every two years. If he had called me prior to work starting I likely could have sold to him and realized a small (yet nice) sized profit.

As I get close to the end of my rehab I change my sign rider out to "Available Soon".

Brian Pulaski · Answer

I have placed a sign out front before listing the house (a few days, never anything more) and the response I got was from what sounded like a very interested buyer... Asking for photos and to have a look etc. Turned out to be the neighbor just being very nosey and wanting to see the house. I have had much more response from the MLS ad than the sign out front, but I have been tempted to try the "coming Soon" signage.

Chris Brown · Answer

I usually have my realtor place his normal sign when we are completing finishing touches, about 2 weeks before listing. I have not found any buyers during that time. I have had people who will call and ask and seem interested, but never any follow through. Just my experience.

If it is a really hot area, then I think you would have better luck, but in a normal market, not so much.

Jeff G. · Answer

@Jason Lavender your copper coming soon to a thief near you. Nah, I'd skip it.

Melissa Kirchhoff · Answer

@Jason Lavender - I've thought about this as well (I was looking for one on a main drag, didn't get it so can't help there) and I figured I would just put for sale/for rent (if it was a buy and hold) and my number on it to get the calls and collect leads. Versus getting a coming soon with no information just to promote it, I wanted to get the calls and get the numbers so I would have a pool of people I'm in control of calling/converting when it was done. (Yes, I'm a control freak if you can't tell!)

I was planning on just saying, it will be done X date, I'll give you a call when it's completed and we can go through it together and I'll show you what we did. Or something of the sort. If it was close to done, I'd be showing them before that to get them on and show them what was left to do.

So try it and let me know how it goes so I know for the next one ;-)

Post a Coming Soon Sign at Flip?

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