How to blanket offers on houses: Realtor, Internet program?-California

Question

Hi I was wondering how to send out a TON of offers to decent 1-4 unit properties. Or maybe just more than I"m doing. I'm in coastal Los Angeles market. I see some decent deals every now and then, some REOs, or distressed properties, BUT they don't even get back to me or my realtor.

I'm already an owner of a good amount of units, but want more hehehe ;). Maybe now is not the time to buy....there's still lots of competition for decent properties.

I'm looking for potential flips or buy and hold, doesn't really matter, but anything that is a deal seems to just come and go here in Los angeles. Any suggestions on how to search and expand the way I do searches...because frankly what I'm doin is not working. All I've picked up recently was a distressed condo last year

My real estate agent, is pretty good about sending out offers but sometimes she takes a day or two to submit and fill out the offer and this is too long because at this point anything on the MLS that is an actual deal.

We've also tried sending out snail mail letters to people and this hasn't had many responses.

Some possible ideas:

1. I get my own RE license and make offers myself

2. I was wondering if there are internet programs or decent companies that can do this that don't charge an arm and or a leg etc, and are actually legit. I was thinking possibly PropertyRadar.com? or are there other sites people can suggest?

3. Use other RE agents to make the offers as well? Mine is very good, but she would be swamped with the amount off offers I want to make in this california market

4. Search off the MLS? This way there is less compettion. Can anyone suggest anything for this? Programs, etc that are legit?

5. direct mailers: My RE agent and I have both tried sending out direct mailers without good responses, anyone know of programs to not do ths by hand? It really taks forever as we hand write them to property owners she finds and only send out 20-40 at a time.

Thanks as always gang. Any tips on what you're doing thats working would be great

Jay Hinrichs · Answer

@Will F. Will I know when I have gotten a letter form an Attorney I always open it and I have been approached many times from Attornies representing clients to buy a property I owned. Well not many times maybe 5 in 30 years. But they almost always closed. Just brainstorming.. You could have an attorney send out a generic letter of intent for you.. You pay them for the letter and you provide the mailing list.. At least the owners will open the letter.. Doubt many get those types of inquiries plus when you do this is makes it appear that your for real.. Now don't go telling any guru's about this next thing you know it will be the rave:)

Mike S. · Answer

@Will F. There are a lot games going on with short sales often times agents are required to list it so they throw it on the MLS for 5 minutes and then put it on hold cause they have a buyer already. The other thing is agents will try and postpone a trustee sale by showing offers so they list it to get an offer to buy some time. Its frustrating for all of us.

Mike S. · Answer

@Will F. disregard previous post hit the wrong button

anyways with regards to MLS properties I would suggest going direct to the listing agent and doing your own due diligence, you will find listing agents to be far more responsive when they are looking at double ending a deal. Of course in L.A. nearly everyone is already doing this...but at least it might give you a fighting chance.

Elizabeth Colegrove · Answer

We have found that the deal is in short sales. Unfortunately they are much more limited. I have started to put back up offers. I found a great deal this way.

Will F. · Answer

Thanks @Mike S. I'll try going direct. I feel like that might help. A lot of these listing agents don't even respond if the property is priced under market or it's an REO/ Short sale. The thing is.... aren't these agents legally supposed to be getting top dollar for their clients, whether it be the bank or short seller etc? I'm making some decent offers and not even getting responses.

Mike S. · Answer

@Will F.

Will F. · Answer

Also anyone have ideas for printing pamphlets, business cards or postcards? I was planning on printing like 2000-5000 (to hand out and to mail) but anyone have samples of what to put on them? I've seen online u can print like 5000 for about $130 that's pretty cheap like $.02 each

I suppose I can do the generic we buy houses one

I also invest in multifamily and buy and hold as well, but I'm trying to do more flips and find investments off the MLS

Thanks :)

Will F. · Answer

Thanks Jay and Elizabeth.

I might try that with the lawyer Jay. For now I just want to figure out how to do this cheaply and effectively.

Here's a specific question- where do you have them printed? Kinkos? A website? My realtor was suggesting CoreFact to print and mail them, and you would just put in address, mailing address, and owner names in an excel spread sheet.

Or are there sites that do this for cheaper that you could suggest?

Just to let you all know for direct marketing/ direct mailers we've been sending out 10-80 letters at a time and we've tried hand writing, typing, etc and we've only received 2 call backs that did not amount to anything. Some were written by my realtor saying that I'm her investor and looking in the area for 1-4 units etc.

Will F. · Answer

So far we've been hand writing them from properties we find on property radar we search for the owners and type something out and send to them. We haven't received on response.... :-/

How to blanket offers on houses: Realtor, Internet program?-California

How to blanket offers on houses: Realtor, Internet program?-California

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