This is an interesting advertisement that I found on my car after an Investor Meeting in Cheektowaga this evening......
Every car in the parking lot had one. There was also postcards for property management. The investment group doesn't allow people to hand out things unless they sponsor.
For $45,000 you can purchase a Triple unit in Western New York.
Rents are set by Section 8 Tenants (the check come directly from the state to you) Cash intake monthly is $1,645.
Interesting right? It brings up a great discussion point:
Does this type of advertising work? Did they target the right people and did it get their message to people that could act upon this? What thoughts come to your mind? Is this positive or negative for the seller to advertise this way?
What do you think?
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Colleen Kulikowski is your Western New York Real Estate Expert focusing on the sale of homes in Buffalo and Niagara Falls neighborhoods. Now is a great time to purchase a WNY home, call (716) 990-7384 for a free competitive market analysis or start the process of purchasing of a home in Western New York.
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Colleen Kulikowski provides the latest WNY Homes, Real Estate in the Greater Buffalo area. Market reports, homes for sale, homes and sold in WNY.
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sounds like they had the right idea by marketing to investors, but needs a bit of refinement
They were doing some marketing, which is way better than nothing. $45,000 for a triplex is amazing, astounding, hard to believe! Must be a typo! Way positive cash flow!!!! Why would anyone sell this cash cow!
Very interesting - not very professional looking but it must be effective - we're talking about it here on Active Rain. I think anything outside the box has the potential to be a winner. One just never knows!
Maybe Section 8 is looked upon differently in New York, but in FL, it's the curse of death! It's not something I would advertise. All the places here that have Section 8 tenants are known for having fights breaking out and the buildings being trashed. Yes, the rent is paid, but there are a lot of problems associated with the tenants. That's just my .02
Its a "help wanted" sign! So be helpful and call him up. I would offer to do a virtual tour for $150 and put him on your website or postlet on craigs list. It will make him feel obligated to you and then list with you because we all know that FSBO's have a very low rate of success!
Very interesting. Any type of advertisement to get the word out these days works!!!
Colleen, it COULD work, who knows? One way to do things I suppose - kinda like papering everywhere just in case. That price seems incredible though with that much cash flow. I'd probably be curious enough to call to find out what the real story is?
Heck in our state you can get fined for doing this! I think it is like $10 per car they find your advertisement on.
Thanks everyone! Yes the prices here are low and yes there are many opportunities with cash flow here. Western New York is full of opportunity.
Lisa totally different here in WNY. That is a benefit to have section 8 tenants in. Some owners have section 8 tenants that have been in the properties for 5 or more years.....
Sara already left a message.
Colleen - If it is not sold, give me a call and we'll be interested. I don't care who you are or where you're from, that kind of cash flow is hard to ignore.
I would definitely want to know more... the price versus rents seems incredible. I would be a bit concerned about condition of property and strength of Sec. 8 entitlement. I think the marketing technique worked, since I'm interested in Tallahassee, FL!
Well, for one thing...it got your attention and you read it then hung on to it. So it must have been effective with other people too. He might just get it sold! lol
It works better if it is more professionally done, handwritten. Although this type of advertising is very ineffective overall.
It caught my attention, so there must be something to it. LOL
What the seller is missing -- is getting financing for this type of home is extreamly difficlut... And if someone were to purchase cash for that amount there are tons of options......
Must not want to sell, has not returned my phone calls....