Wednesday, May 24, 2017

Want to own your Geo Farm?

Want to own your Geo Farm?  Well, get to know the neighborhood.  Pick a high turn over area.  Focus on neighborhoods that turn over 5-8% or more every year.  To get the best return, focus on areas with starter homes where there's a steady stream of first-time home buyers moving in and growing families moving out.  If your target neighborhood has 500 homes and there are 40 sales last year, that is a turnover of 8%.

Preview all homes currently for sales.  Attend some Open houses. Knowledge is power.  Learn about the restrictions, do they allow pets? etc.   Sightsee - Drive around the area, make notes of schools, stores, parks, house styles, demographics. Look for "For Sale" signs as well as vacant land.

It's extremely important to Talk to local residents.  When door knocking ask residents what they like best of living in the neighborhood.  Conversations could prompt neighbors to consider moving.

Network with local merchants.  Ask how business is going, ask about demographics of their clients so you can get a sense of who lives in the neighborhood.  Attend city council meetings, find out what is planned for the area.  Do an internet search.  It's a great way to know the target market.

Then Know the risk.  Is this an area that is prone for disasters (Hurricanes, Floods, Drought), know what your clients should expect including insurance issues.

Knowing your Geo farm is a great way to gain additional listings !

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