I found a list a properties which the owner is not occupying the property from the city and have been doing some research on direct mailing to absentee owners.
However I don't have a lot of confidence to begin mailing the letters, post cards, I see a lot of owners living within the city or the adjacent city of my targeted properties which they can easily ask a realtor to sell their properties and why would they sell the properties to me with a discount?
Anyone know the effectiveness for getting responses and deals? any guidence would be appreciate.
I pull lists of tax records and mail to them. I get about a 3% response rate. Most of the time the deals don't work out, but when you get the one that does, it makes it all worthwhile. I made 35k profit on one rehab deal.
Most of the time they respond because they just think.. Well, what have I got to lose. Maybe he/she will buy my headache.
Here's my question to you. What if one of them sells to you? What are you going to do? Make money? Some of the most successful investors I know just do things without thinking about them. You point them in a direction and tell them to do THIS, and they do it, and are successful.. They don't ask why and doubt it could work.. They just do it.
SO DO IT! You'll never know if you don't try!
I would say most definatley do this!!
I have a lot of experience in this and a lot of success.
If you give someone (potential seller) a compelling reason to sell to you they will. If they were going to ask a realtor to do sell for them then an email from you is not going to be the deciding factor on this, they would have this in place anyway.
Your email may prompt them into the move though and if your email has the compelling info they are looking for then you WILL have success.
Go for it!!! message me for any help on this anytime :)
They might sell to you because...
-the house needs repairs that they can't afford
-they inherited the house and don't want the headache of listing it
- heck they might sell to you at a discount just because they like you
You never know until you try. The thing to remember is that these deals are being made every day at serious discounts, if you don't make the deal, someone will. There are so many reasons that owners sell at a discount; the only way to find out if anyone on your list will sell to you is to send them a letter (or other marketing). Good luck!
I read a lot of BP investors only target out of state sellers. however in my area, almost all the sellers living in the same town or within 30 minutes drive to their properties. Does it make it harder to buy from them? I pulled the list of sellers with county tax valuation half of the current market value and properties bought before year 2002, absentee owners. some of the ideas i got from the posts with Dev Horn, and Michael Q.
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