Apr 9, 2017
I attended a networking meeting and the speaker was David Bootrus
Talked about his strategy for making money in smaller markets
Step 1 – Identify the small/rural city that you want to target. You’ll need to research rent rates for the area as well.
Step 2 – Create a marketing plan for the area
Step 3 – Work the leads and purchase distressed homes in the area for 5,000 – 20,000
Step 4 – Do a basic make ready
Step 5 - Market the property in MLS, craigslist, Trulia, Zillow…
Step 6 – Use bandit signs for “owner financing”
Step 7 – You’re going to make the payment on the mortgage $400 less than rent rates
Why would you do this? It ensures a very low foreclosure rate.