The Secret to Finding Deals with Bandit Signs
Consistently finding properties to flip is absolutely essential to my house flipping business, yet for many investors, finding deals is their #1 greatest obstacle.
One strategy for finding deals that is sometimes overlooked and scoffed at is posting bandit signs. Bandit signs are essentially posters that say something like "We Buy Houses" with a phone number at the bottom. House flippers and wholesalers use them all the time to find profitable deals.
Personally I am not a huge fan of plastering bandit signs around town. I think they look pretty ugly-plain and simple. Yet they do work and many investors use them with great success, including some of the wholesalers whom I work with.
Last week my acquisition manager acquired the below photographed property through the use of a bandit sign.
So needless to say bandit signs still work, and work very well - granted you implement the right technique. There is a strategy behind bandit sign success - as there is with any aspect of the house flipping business.
Find More Deals with Bandit Signs
To consistently find deals using bandit signs, you need to implement an effective strategy. There is some psychology behind using bandit signs efficiently and effectively. As an investor, you need to understand this psychology and implement this strategy into your overall bandit sign marketing plan if you want to realize results.
Very few house flippers in my area of the country know how to efficiently and effectively use bandit sings to find deals. Most investors slap up a few bandit signs and wait for the phone to ring. More often than not when the phone does ring, it is a town official asking them to please remove their signs.
Eliminating calls from town officials, while maximizing calls from potential sellers, is the goal of our next HFS Members' 3 part video series.
If you need to find more lucrative deals in today's highly competitive real estate market, then this 3 part video series will help you do just that.
I hope all you House Flipping School members find this video series helpful.
My goal with this series is to not just help you get more deals via bandit signs, but to also help you use bandit signs responsibly. If you can learn how to use bandit signs efficiently and effectively, you will receive more calls and ultimately get more deals under contract.
Take care and I'll see you at the top,