3 More Responses from Mailers
6-12-09
I got a response from a mailer I sent out. The heir of the estate decided to get the property listed ONE DAY before receiving my letter. I checked the house out. Good neighborhood. The house is in pretty good condition, but needs upgrading. I am waiting on getting comps sent to me from the listing agent. I called today (6-15-09) and left a message. I'll call back tomorrow.
-----------------
I received another response from a mailer. This one was again already listed. I spoke with the agent on the phone about the house. This home is out of the price range of what my buyer's have specified. I spoke with the agent, explained what I'm doing, and she will be sending me listings that she thinks match what I'm looking for.
6-15-09
I received a 3rd response from a mailer. This one was NOT listed yet. I went and looked at it today. The house is a bungalow, in move in condition, needs upgrading, and generally needs to be cleaned out (not garbage just belongings). The son lives out of state and has had a couple of offers. I'm working on getting comps for this and will be in touch with him soon. I spoke with a wholesaler in NJ who recommended getting this under contract and putting a 1st time home buyer into this house. He's gonna help me out with getting comps for the property (also called my realtor for comps, no answer but left a message). Tomorrow, I will be going to local banks in the area and seeing if I can find a bank that doesn't have seasoning requirements for lending on a home.
-----------------------------
I got an email from another wholesaler I found through Craigslist asking me if I would be interesting in helping her market/get one of ther properties sold. I called but got no answer. I wrote her a response email and will be calling her back tomorrow.
Comments (9)
Nick, thanks. Will, good point. I do have something similar in the letter, but forgot to mention that.
Brian G., almost 15 years ago
It is also great to add a line stating that you can close super quick so that they can put this behind them and get the money in their pockets faster.
Will Barnard, almost 15 years ago
k...thanks
Norm Chrostowski, almost 15 years ago
Hey, Norm. I send out mailers instead of postcards. It is a basic letter that says I'm sorry for their loss, if they are interested in selling I may be interested in buying, and that I will buy the house "as-is". I also put a hand written signature on every letter. Brian
Brian G., almost 15 years ago
Brain, When you send out the post cards to the Probate leads, what does it say? What do you put on them? Thanks Norm
Norm Chrostowski, almost 15 years ago
oh, Duh!! I just realized what you meant .Sorry! best way is to put the property under contract and record a "memorandum of option" thereby "clouding" title. You can then assign the option contract to whoever you want for an "up-front" fee, Don't let a wholesaler or buyer screw around with you. I had a student just recently that was worried about the buyer backing out by not putting up an earnest deposit, the buyer intimidated the student (or at least I think he did) into NOT putting a non-refundable deposit and saying they were going to use the buyers title company. Needless to say there have been nothing but problems and even a threat from the buyer that he will pull his offer if my student doesn't find another title company to close the deal when it every problem has been because of the buyers side of the transaction. Long story I know, the point is don't feel threatened by someone who "says" they are going to buy, make them prove their performance ability by paying up front and regardless if they flake out like a lot of buyers do you'll still have gotten paid and didn't get screwed out of the deal. sorry for the long response to a blog post :)
Nick J., almost 15 years ago
What do you mean stay in the deal?
Nick J., almost 15 years ago
Nick, my agent got back to me today. She said she's been very busy (which I believe), although getting comps within 5 minutes would be great. So, I may still need a new or just another agent. Good point on the listing agent comps. Any suggestions on making sure I stay in the deal? Thanks for the feedback and encouragement!
Brian G., almost 15 years ago
Brian, find an agent that can pull comps for you in less than five minutes. Waiting that long can be a killer sometimes. I have a few students that while I'm telling to get comps I'm already emailing an agent and getting the comps back before I even get off the phone with the student. Also, don't use the listing agents comps, they're obviously skewed as I'm sure you can imagine why. in regards to the wholesaler from CL, be careful not to get cut out of the deal if you do bring a buyer. Good job so far! it's amazing how when you start taking action results start happening. Keep up the good work!
Nick J., almost 15 years ago