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Updated over 6 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Frederick, MD
14
Votes |
30
Posts

Direct Mail - Follow-up on lead that I will not make an offer on?

Account Closed
  • Rental Property Investor
  • Frederick, MD
Posted

Hi Everyone:

I have been receiving some leads in response to my direct mail campaign for vacant land.  As important as it might be to know what a GOOD deal looks like, I would bet dollars to doughnuts that it is just as important to know what a BAD deal looks like.  Frankly, a lot of BAD deals have been coming through my pipeline, but I remain hopeful for the needle in the haystack to finally appear.

My question has to do with best practices for following-up with owners that have properties that I have no intention of buying.  If they contacted me trying to sell their land, but it does not meet my land use/zoning requirements, should I just ignore them?  Or should I send a letter to the landowner letting them know that their property is not what I am looking for and to keep me in mind if they come across any other properties that are closer to my criteria?  The individual I am referring to contacted me via telephone, if that makes any difference. 

I feel like the fact that I received a response from this person is somehow valuable in itself , but I am not sure if the follow-up communication is even worth it or necessary.  

I would love to hear your thoughts.

James

Most Popular Reply

Account Closed
  • Rental Property Investor
  • Frederick, MD
14
Votes |
30
Posts
Account Closed
  • Rental Property Investor
  • Frederick, MD
Replied

@Mike Cumbie That is a great suggestion!  I have never thought about that strategy.  I have thought about getting by broker's license and can easily do so in Maryland.  I purchased the materials to study and all that would be required is for me to sit for the exam ... I would not have to take any courses.  But, I have decided to put it off until I get a few transactions/deals under my belt.  

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