With rental markets in many major metro areas heating up, investors are beginning to turn an eye once more to well-priced properties. Serious investors typically purchase one to three properties a year, depending on the market. With that kind of purchase frequency compared to traditional home buyers, do you have a strategy in place for catching investors’ attention?
One way to target investors is to identify listings you think would be ideal for investors and highlight them in a newsletter, on Facebook, or through special posts on your blog. While you don’t necessarily want to “bomb” your regular list of contacts with investment property opportunities, it’s well worth your time to build a separate list targeted to those who might want to purchase an investment property for conversion to rental.
There are several ways to approach this, depending on your bandwidth and market activity:
1. A “hot property” alert which lets investors know as soon as rental-worthy properties have hit the market.
2. A “great deals” alert highlighting properties which may have had price reductions or other issues which make them good buys for investors.
3. A “monthly investor digest” which summarizes and showcases the most attractive properties for investors over the past X weeks.
Of course, some combination of the above might work for you, too.
Building your capabilities as an analyst of prospective rental properties can be a valuable skill. This is especially true if you begin to market yourself as a resource to out-of-area investors who may be interested in your market.
Remember: Segmenting your contact database and communicating relevant messages to the right audience is essential to a sophisticated growth plan. An investor-only approach is one segment worth considering again.
