Sellers are delusional

Yes, sellers are delusional. They think their property is worth way more than what it really is.  I mailed to 20 code violations and received 2 responses. Most of them I was planning on selling the land. 

1st caller- a) home in a war zone, but I do see I could make a decent profit. b) land value only c) cma- no more than 60k d) owner said it was worth $150k, but would settle for $110 because according to him houses a few blocks over are selling for $200k and up. e) e) informed him of the true value of the property, the neighborhood, and the fact that the other houses are completely renovated. f) too far delusional for me to work with

2nd caller- a) same as the previous a b) same as the previous b c) owner said it was worth about $55k and would not go a penny lower d) I told him we would pay for all expenses and were company so we needed to make a profit e) seller said he would hold on it bc he wasn't looking to "give" his property away. f) not motivated

I sent out 1000 postcards and got 2 calls back. My phone was broke so I had no way to contact them. I will do that today. I do know how much one caller wants because she answered all of the questions the answering service asked. I know she is wrong about the value (it looks like a tear down on Google maps) and I don't like the street. The area is not bad, but the street runs parallel to a highway.

Another 1,000 postcards will be mailed this week. Hopefully, I can get a better response rate because 2:1000 is absolutely horrible. This week I will mail to more code violations, set up a website, and read BPs book on Managing Rental Properties.