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I have a friend in the RM business and has he been using this as a way to get bigger ticket sales and to get someone the house of their dreams with no mortgage. He calls it "doubling up."
Here is the scenario:
Step 1) Prospect is over 62, lives in a house that is PAID for and lets say its worth $200,000.
Step 2) Prospect sells his $200,000 home, buys a new home for $400,000. Puts down the $200,000 from the sale of his first home and RM's the balance of $200,000.
And Done!
This person got a bigger home in a better location in a safer neighborhood for NOTHING!
RM's aren't just for cash strapped poor seniors. This strategy will appeal to status seeking boomers (and there are plenty of them).
Think about it this way, if you are healthy at age 62, there is a pretty good chance that you could live an additional 20-25 years. Why not spend the next 20-25yrs in the house of your dreams.
Check this scenario. You have a nice $500,000 home but you've always dreamed of the $1Million beach front mansion in sunny south Florida. A couple strokes of the pen and boom! Its yours!
What are some of your thoughts on this as a marketing strategy for RM's?
Here is the scenario:
Step 1) Prospect is over 62, lives in a house that is PAID for and lets say its worth $200,000.
Step 2) Prospect sells his $200,000 home, buys a new home for $400,000. Puts down the $200,000 from the sale of his first home and RM's the balance of $200,000.
And Done!
This person got a bigger home in a better location in a safer neighborhood for NOTHING!
RM's aren't just for cash strapped poor seniors. This strategy will appeal to status seeking boomers (and there are plenty of them).
Think about it this way, if you are healthy at age 62, there is a pretty good chance that you could live an additional 20-25 years. Why not spend the next 20-25yrs in the house of your dreams.
Check this scenario. You have a nice $500,000 home but you've always dreamed of the $1Million beach front mansion in sunny south Florida. A couple strokes of the pen and boom! Its yours!
What are some of your thoughts on this as a marketing strategy for RM's?