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Rehabbing/Retailing Rehabbers and new investors interested in rehabbing. Discuss issues you come across while rehabbing.
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  #1  
Old 06-17-2008, 06:39 PM
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Default Free Stuff!

Does anybody out there offer free things (tv, car, cruise) when they sell their house retail? Has it worked?
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Old 06-18-2008, 05:43 AM
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It can work.

You need to target the activity. It might be better to spend more on marketing than to reward the buyer with a gift.
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Old 06-18-2008, 07:31 AM
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most intellegent people won't fall for a gimmick if they can avoid it
just depends on the situation i guess
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Old 06-18-2008, 11:31 AM
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You could give away free boxes. LOL
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Old 06-18-2008, 03:24 PM
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I have given away a truck, a car, a bunch of cruises, and a flat screen tv or two. It depends on who you are marketing to. Investors are cheap skates and will go for anthing that is free!
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Old 06-18-2008, 03:52 PM
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you can give me a truck too
you can even claim it as a tax write off - gift to the poor
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Old 06-19-2008, 09:20 AM
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My father and his partner bought a brand new Ford 500 and put in the garage of a home and marketed a free car that is PAID for when they purchase this specific home. They went on the news, had an article write-up in the newspaper and no leads where produced by this.

People figure ok, he paid x amount of dollars for the car, so he could have come off the price x amount of dollars, instead he increased it and now I have to pay for a car to.

I would say instead of a gift, give them an incentive such as money back at CLOSING to help with moving expenses.
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Old 06-19-2008, 11:23 AM
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Be careful with the money back at closing, most of the lenders out there throw a flag on that type of stuff.
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Old 06-19-2008, 12:53 PM
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that's why you have cousin who works for 2 men & a truck
you offer to help with moving costs at signing
your cousin gets some extra "preferred" business
win win
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Old 06-24-2008, 07:56 AM
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Quote:
Originally Posted by southern sicilian View Post
that's why you have cousin who works for 2 men & a truck
you offer to help with moving costs at signing
your cousin gets some extra "preferred" business
win win
While you could do something like this it is best to stay away from mortgage fraud. Even more so these days as the various agencies are definitely looking to arrest people.

That even goes for incentives like cars or other things. The lender will want to know about incentives paid to the buyer.

If you want to attract more buyers consider seller financing or a rate buy down.
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