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Forums » Wholesaling » Early results on yellow letter mailing

Early results on yellow letter mailing

73 posts by 21 users

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Real Estate Investor · Garland, Texas


Just three calls today, but one was very promising. I plan to make an offer tomorrow.

It's been a long day. I drove from Dallas to Austin in the morning to meet with an architect. Then I looked at a bunch of houses for design ideas for a new construction project. Then after 4pm I took a call live from the mailing. Motivated seller with a property that fits all my criteria very well. Went to look at it and it is a fit. Hopefully I'll get it under contract tomorrow.


Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545
Website: http://www.facebook.com/Buttermilks


Residential Real Estate Agent · Long Beach, California


Poe Wrote: And where are all the SS agents? The seller would have worked with an agent in a heart beat.

I gave up sending letters for short sale listings earlier this year because of no response from new NODs. I sent a total of 4 letters spaced about a week apart but got no response. I think those owners must just have their heads in the sand or my letters were just not good. I got content ideas from another forum specifically for short sales.



Real Estate Investor · Garland, Texas


I made a written offer around 3pm, but no response yet.

Just 2 or 3 new calls today.


Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545
Website: http://www.facebook.com/Buttermilks


Real Estate Investor · San Antonio, Texas


How are you finding the quality of the calls to be?



Real Estate Investor · Garland, Texas


Originally posted by Ram Gonzales:
How are you finding the quality of the calls to be?

Most are not motivated. My expectation is that about 1 in 20 has very good potential. I'm a different kind of buyer than most wholesalers, though. I have specific criteria for a certain family I am moving to the area, so I want more than a wholesale price. At the same time, I will take one that has a low drag $10k assignment fee.


Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545
Website: http://www.facebook.com/Buttermilks


Real Estate Investor · San Antonio, Texas


So do you direct the calls to an answering service or answer them yourself?



Real Estate Investor · Garland, Texas


Originally posted by Ram Gonzales:
So do you direct the calls to an answering service or answer them yourself?

I use a Google Voice number that rings my cell phone. I try to answer live, but most calls go to a custom voice mail message. Maybe 30-40% leave a message.


Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545
Website: http://www.facebook.com/Buttermilks


Real Estate Investor · Central Valley, California


Originally posted by @Shari Posey:
Poe Wrote: And where are all the SS agents? The seller would have worked with an agent in a heart beat.

I gave up sending letters for short sale listings earlier this year because of no response from new NODs. I sent a total of 4 letters spaced about a week apart but got no response. I think those owners must just have their heads in the sand or my letters were just not good. I got content ideas from another forum specifically for short sales.

Shari Posey How about properties without NODs? The property I was writing about has no NOD, same as many short sales that close in my area. IMO, negative equity plus one more distress (you pick) is better than NOD.



Real Estate Investor · Salt Lake City, Utah


Originally posted by @K. Marie Poe:
Poe Wrote:

Shari Posey How about properties without NODs? The property I was writing about has no NOD, same as many short sales that close in my area. IMO, negative equity plus one more distress (you pick) is better than NOD.

K. Marie Poe this is very interesting to me. Mostly because in January I am going to start a plan for some sort of marketing to potential short sales ie NOD or 30-60-90. I am interested in some of the marketing strategies you have tried; for example, have you mailed to negative equity and out of area?


Small_gary-logo__2_Gary Parker, GaryBuysHouses
E-Mail: [email protected]
Telephone: 801-635-4756
Website: http://www.GaryBuysHouses.com


Real Estate Investor · Central Valley, California


@Gary Parker I avoided shorts for a long time so I always culled my distress lists of negative equity properties, at least cursorily. But I would still get calls anyway from people with props that are upside down asking if there was anything that could be done. Some of them have turned out to be worth working as shorts. It appears to me that since non-NOD owners are not targeted maybe they aren't getting hit with so much marketing. Still need other distresses though to indicate possible motivation. Lots of upside down owners are paying on time. Or happily not paying if their lender is in a holding pattern.



Residential Real Estate Agent · Long Beach, California


Poe wrote--How about properties without NODs? The property I was writing about has no NOD, same as many short sales that close in my area. IMO, negative equity plus one more distress (you pick) is better than NOD. (I don't know how to use quote.)

There are some duplexes in my town that I liked like to buy and I wrote the owners whose property was overgrown, etc. but got no reply. I would say, my letter writing efforts have been disjointed. I have also tried door knocking distressed-looking homes and NODs without results. All my short sales have been referrals. Maybe it's just bad letters. Any ideas? Also, where are you getting your lists?



Real Estate Investor · Garland, Texas


This is the copy of the letter:

Dear Anna,

My name is Jon Klaus, and I’m trying to buy a house in the Manor area. I need to buy fast, so I’m going to pay cash, looking to close in 30 days or less.

Your house at Blake-Manor Rd looks like a good fit...would you like to sell it to me? 512-666-xxxx. Call me and let’s talk it over.

Sincerely,
Jon
512-666-xxxx


Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545
Website: http://www.facebook.com/Buttermilks


Real Estate Investor · Garland, Texas


Here's what it looks like, though the copy is slightly different on this one:


Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545
Website: http://www.facebook.com/Buttermilks


Real Estate Investor · Houston, Texas


Thanks for taking the time to track your direct mail Jon, definitely helpful to compare response rates.

We are sending about 3k letters a month right now and have patlive numbers that go to a relatively lengthy message asking for name address and return number. I use a google voice number to return the calls. Your statistic that only 30-40% of callers leave a message has me worried as I have NO way to capture hang up calls with patlive.... VERY informative.


Small_solid_logoSam Craven, Senna Homes
E-Mail: [email protected]
Telephone: 832-722-4815
Website: http://www.sennahomes.com
Investing in Houston Real Estate


Real Estate Investor · Garland, Texas


Originally posted by Sam Craven:
Thanks for taking the time to track your direct mail Jon, definitely helpful to compare response rates.

We are sending about 3k letters a month right now and have patlive numbers that go to a relatively lengthy message asking for name address and return number. I use a google voice number to return the calls. Your statistic that only 30-40% of callers leave a message has me worried as I have NO way to capture hang up calls with patlive.... VERY informative.

Google Voice will capture hang ups.

3K a month will keep you busy!


Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545
Website: http://www.facebook.com/Buttermilks


Real Estate Investor · Houston, Texas


for beginners our deal flow has been very fruitful the last 5mo!

After a phone call and some investigating i have found that we CAN in fact capture hang ups. (claiming bone head beginner move here) And thanks to some helpful tools it looks like our VM/Call ratio is 51% leave a VM. Will take some time to drive it down per campaign and see what the data says. Thanks for opening my eyes Jon, there's money in those hang ups...


Small_solid_logoSam Craven, Senna Homes
E-Mail: [email protected]
Telephone: 832-722-4815
Website: http://www.sennahomes.com
Investing in Houston Real Estate


Real Estate Investor · Garland, Texas


I've got verbal agreement after an offer and counter-offer. Very close!


Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545
Website: http://www.facebook.com/Buttermilks


· Orlando, Florida


Congrats Jon! Keep us posted.



Real Estate Investor · Garland, Texas


Under contract! I now have a fully executed contract at $95k. Tax appraisal is $146k. We should close in 10-14 days.

The plan is to move my Dallas based GC and family into this Austin home so he can work on our projects there full time. This is a step in the direction of development and new home construction on a bigger scale.

I'd say this was a highly effective yellow letter campaign in that we found and contracted what we wanted in 10 days. And I spent little personal time, maybe 7 hours.

Shout out to Jerry Puckett, who ran the mailing for me.

Now I need to figure out when to mail the remaining 600 letters that are ready to go


Jon Klaus, SellPropertyFast
E-Mail: [email protected]
Telephone: 214-929-6545
Website: http://www.facebook.com/Buttermilks


Landlord · Dallas, Texas


Nice work! Grats!

Question for @Jon Klaus and @Jerry Puckett. When you are on the phone with someone that does not seem motivated enough to sell their house at a discount. How do you go about politely ending the conversation?





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