CraigsList Ad Response

Wholesaling
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CraigsList Ad Response

Robert Burns
Wholesaler · Baton Rouge, LA · Member since 2008 · 471 posts · 98 votes

I've recently listed a property on Craigslist that I am working on as a wholesale due to its condition. I have had a number of responses via email and I have responsed with the following: (Give me feedback on how effective this response is or any other comments)

Dear ???:

I appreciate your interest in the property. Would you please provide the
following information so I can better understand how we might be able to work
together on this property and perhaps other properties I have or will have in
the future?


Buyers Information

Please provide the following information:

1. Name:
2. Email Address:
3. Company Name:
4. Preferred Phone #:
5. FAX #:
6. Type of Buyer:
Retail
Investor
Rehabber
Wholesaler

7. Type of Property most interested in: Single Family, Multi-Family?
8. Preferred Property Characteristics: Sq ft, # Bedrooms, # Bathrooms?
9. Type of Financing Available: Cash or Loan?
10. Preferred Price Range?
11. Areas of the Greater Baton Rouge of most interest?
12. If Rehabber, what level of rehab are you comfortable with?
13. If Investor, how many transactions in the past 12 months?

-
Have a Great Day!
Bob Burns

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Account Closed
OR · Member since 2008 · 1k+ posts · 845 votes
16y

Robert, this is how I would respond. I'd send back an email saying that if they'd send me their phone number, I would call them and set up an appointment for them to view the house. I would finsih by giving my phone number with the note that they could call me if they preferred.

Once they are on the phone, you can ask snoopy questions as long as your voice is friendly and you've started the conversation by giving details about the house.

LeJon, to build a buyers list try running an add that says you often have good deals on fixer-uppers and tell the reader to contact you if they'd like to be on the list to be notified whenever you get a property that meets their criteria.

You guys who are starting out, forget about all this trying to trick people crap. You'll go further by being honest and upfront.

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  • Joseph Ziolkowski
    Inspector · Alsip, IL · Member since 2008 · 361 posts · 75 votes
    16y

    Looks good Robert! I would also ask them how many more properties they plan to buy in the next 12 months. Keep us posted!

    0Reply
  • Jeff Warner
    Real Estate Investor · North Central Arkansas · Member since 2009 · 509 posts · 178 votes
    16y

    Maybe it's just me but if I got an email back like that I would think the property was not legit and someone is just trying to build a buyers list. As a buyer I would want to take a look at the property and figure out if it was a good deal or if it was even legit before I gave up all my info to someone.

    Those are all good questions and I think I would add Joe's question to it as well...always good to know how many homes they are looking to buy.

    I think you might have better luck bringing those questions up in a casual conversation about the property on the phone. Just my opinion.

    Jeff

    3Reply
  • Robert Burns
    OP
    Wholesaler · Baton Rouge, LA · Member since 2008 · 471 posts · 98 votes
    16y

    Just to keep everyone posted the following is a response I got from this Craigslist Ad:

    company/I am i auto mechanic

    fax/none
    type of buyer/ I have a new job that is taking me to baton rouge and need a place to stay while i work so while i am living a house i would like to fix it up and increase the value while i live in it
    type of property/anything less than 50,000 that i can live in while i fix up i would like it to be within 30 minute drive from price leblanc toyota so i can be close to work
    type of financing/ I have cash and good credit
    this is my first fixer upper but have plenty of experience doing carpentry and plumbing and electrical also very good with anything that requires fixing

    Any comments on how I should handle this buyer?

    0Reply
  • Jeff Warner
    Real Estate Investor · North Central Arkansas · Member since 2009 · 509 posts · 178 votes
    16y

    He sounds like a potential buyer. Set an appt. and show him the property, if he's legit he'll show up.

    If you get him to the property and he's interested I would get a $1000 non-refundable earnest money deposit from him.

    Jeff

    1Reply
  • Jason S.
    Investor · Diamond Bar, CA · Member since 2009 · 446 posts · 233 votes
    16y
    Originally posted by Robert Burns:
    I've recently listed a property on Craigslist that I am working on as a wholesale due to its condition. I have had a number of responses via email and I have responsed with the following: (Give me feedback on how effective this response is or any other comments)

    Dear ???:

    I appreciate your interest in the property. Would you please provide the
    following information so I can better understand how we might be able to work
    together on this property and perhaps other properties I have or will have in
    the future?


    Buyers Information

    Please provide the following information:

    1. Name:
    2. Email Address:
    3. Company Name:
    4. Preferred Phone #:
    5. FAX #:
    6. Type of Buyer:
    Retail
    Investor
    Rehabber
    Wholesaler

    7. Type of Property most interested in: Single Family, Multi-Family?
    8. Preferred Property Characteristics: Sq ft, # Bedrooms, # Bathrooms?
    9. Type of Financing Available: Cash or Loan?
    10. Preferred Price Range?
    11. Areas of the Greater Baton Rouge of most interest?
    12. If Rehabber, what level of rehab are you comfortable with?
    13. If Investor, how many transactions in the past 12 months?

    -
    Have a Great Day!
    Bob Burns



    On the surface the email looks fine but I have to tell you that I received a response email from a wholesaler similar to yours and I simply did not respond.
    For some reason it just "did not feel right" - almost like they were asking too much info and we had absolutely zero rapport.
    I do not mean this as a slight at your email - just a factual, albeit anecdotal, observation of my behavior and hence the potential behavior/response of other investors.
    1Reply
  • Jon Holdman
    Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
    16y

    I have to agree with the other responses that I might not like this response from you.

    If I were an investor, and I recognized your deal as a wholesaler, I would also think "there's not really a house available, and this is a newbie wholesaler using some guru technique to build a buyer's list." I might respond or might not, but you have lost me as a buyer for that property.

    If I were someone looking for a house to live in, I would be totally stunned with your response. I would certainly think its a scam of some sort, I just wouldn't know what.

    I think you're really trying to sell a house. You should respond with info about the house! You've just had someone express an interest in the house you're advertising. Your number one priority is to convert them to a buyer.

    Now, if you go around with someone a couple of times, and it becomes clear they are not interested in that particular house and that they are an investor, your list may be fine to send out. If its someone who's not an investor, but does want to buy a house, just not that one, I'd take out all the investor type questions and get more information from them. You just might be able to sell them a house.

    3Reply
  • Vikram C.
    Real Estate Investor · Phoenix, AZ · Member since 2009 · 1k+ posts · 1k+ votes
    16y

    I agree with Jeff, JCC and Jon. It's a terrible idea to send a long questionnaire to someone who may want to buy your house. Instead, send nice photos and give them more information about the house.

    1Reply
  • LeJon Ratchford
    Huber Heights, OH · Member since 2009 · 120 posts · 15 votes
    16y
    Originally posted by Jeff And Cheray Warner:
    Maybe it's just me but if I got an email back like that I would think the property was not legit and someone is just trying to build a buyers list. As a buyer I would want to take a look at the property and figure out if it was a good deal or if it was even legit before I gave up all my info to someone.

    Those are all good questions and I think I would add Joe's question to it as well...always good to know how many homes they are looking to buy.

    I think you might have better luck bringing those questions up in a casual conversation about the property on the phone. Just my opinion.

    Jeff
    What would you suggest in order to build a buyers list if I might ask. Would simply state "Investor looking for potential buyers for whole sale property" Not criticizing, I am interested because I myself am building my buyers list and one of my sources is craigs list. Do other investors see us negatively because we take creative measures in order obtain potential investors? If so I plan to take another route.
    LeJonR

    0Reply
  • Jon Holdman
    Rental Property Investor · Mercer Island, WA · Member since 2008 · 22k+ posts · 14k+ votes
    16y

    The basic idea of advertising a non-existent house in order to gain buyers is one thing. When I respond to an ad that pretty describes a pretty generic house, with no details, and says "fixer upper" or "handyman special" or some such, I'm pretty sure I'm dealing with a wholesaler and wouldn't be surprised if I got back Robert's list. Since that's what I was expecting, I would at least call him and discuss what I wanted.

    But in this case it seems like he's actually trying to sell a specific house. So, first and foremost, he should deal with the respondents as if they really want to buy THAT house. Not as if they want to be on your buyer's list. If, and only if, it becomes clear they are an investor should you ask for info and add them to your buyers list.

    The problem I see with this questionnaire is that it completely jumps past actually selling the house and treats building a buyers list as more important than selling the house. That's putting the cart before the horse.

    There are several threads and blog posts about building your buyers list, so lets please stay on track here and not jump into that discussion.

    1Reply
  • Jason S.
    Investor · Diamond Bar, CA · Member since 2009 · 446 posts · 233 votes
    16y
    Originally posted by LeJon Ratchford:
    What would you suggest in order to build a buyers list if I might ask. Would simply state "Investor looking for potential buyers for whole sale property" Not criticizing, I am interested because I myself am building my buyers list and one of my sources is craigs list. Do other investors see us negatively because we take creative measures in order obtain potential investors? If so I plan to take another route.
    LeJonR



    I do not know exactly how to answer your question except to say that I like to deal with people that I know - so maybe take some time to develop rapport rather than diving into the 20 questions.
    We live in a dangerous world - how fast do I want to tell an unknown person how much money I have, if I need a loan, etc? That gets intrusive. Get to know your buyers first.
    2Reply
  • Account Closed
    OR · Member since 2008 · 1k+ posts · 845 votes
    16y

    Robert, this is how I would respond. I'd send back an email saying that if they'd send me their phone number, I would call them and set up an appointment for them to view the house. I would finsih by giving my phone number with the note that they could call me if they preferred.

    Once they are on the phone, you can ask snoopy questions as long as your voice is friendly and you've started the conversation by giving details about the house.

    LeJon, to build a buyers list try running an add that says you often have good deals on fixer-uppers and tell the reader to contact you if they'd like to be on the list to be notified whenever you get a property that meets their criteria.

    You guys who are starting out, forget about all this trying to trick people crap. You'll go further by being honest and upfront.

    5Reply
  • Robert Burns
    OP
    Wholesaler · Baton Rouge, LA · Member since 2008 · 471 posts · 98 votes
    16y

    I appreciate all the responds and as I wrote the reply to my Craigslist Ad, I also felt it was a bit heavy, but I'm learning and your feedback is taken very constructively.

    Thanks

    0Reply
  • Jeff Warner
    Real Estate Investor · North Central Arkansas · Member since 2009 · 509 posts · 178 votes
    16y

    LeJon,

    Use the search engine here on BP and type in "Building a buyers list" - There are several threads on the topic.

    Robert,

    Good luck with selling that house. Like others have mentioned I agree in building rapport before asking too many questions.

    If you get a reply from an Investor serious about buying the house they'll ask more direct questions and want to see the property or at least get an address to pull comps.

    Jeff

    0Reply
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