BiggerPockets

I started my yellow letter campaign two days ago and I received a call back this afternoon. The seller left me a voicemail saying he wouldn't want anything less than 400K for his property, so basically retail price. I want to call him back but I'm kind of lost at what to say. He said not to call back to waste his time if I'm not serious but I feel like I should at least tell him to use me as a last resort. I want to be respectful of his wishes but at the same time I want him to know that I'm interested in the property....just at a discount. What should I do?

Thanks

True. I want to respect his wishes and not push my agenda onto him, though I think in my next round of mailings, I'll describe a bit more of what I do and why I buy at a discount. If he ever does become motivated, at least he could refer to me.

Move on. You'll get plenty of calls like this when you crank op your marketing.

Indeed, thanks for the reality check guys. I'm trying to take the emotion out of this game and keep moving a long until I hit that motivated seller. I'll just continue with my marketing

If he wants full retail for his property, there still may be light. Does he have the property listed on the MLS currently? If so, how long has it been listed? When/if you call him back, ask him why he wants to sell. Perhaps, he's motivated to sell, however he still owes close to retail price. If this is the case, there could be an opportunity to arrange a lease/option.

I call everyone back that calls me. I dont spend more than 2 min on the phone and simply explain what I do and ask them if it is OK to keep mailing them letters. If they say no I take them off the list for several months then send again. I tell them their name may pop back up on my list. If they dont mind I keep mailing to them. However, I can see how people with a high volume of calls may not want to do this.

I ended up calling him back and he said that he isn't interested in selling any lower right now but he agreed that I could keep mailing him unless he changes his mind. In my next mailing, I'll explain the benefits of working with me instead of selling at retail. Thanks everyone for your input.

Sierra

you can always offer a 3 option deal

01 all cash 30-35% below APR minus repars

02 6-7% down /15 year note /payments principal only at 1/2 market rent/Balance due

03 6-7% down/12 year note 4-5% interest only/Balance due

Creates 3 negotiation points

DD