Antelope, CA · Member since 2012 · 23 posts · 1 vote
I've never done a deal. I want to mail out "i buy houses" postcards, but not sure how many I should send out. I NEED to get at least 1 deal from that mailing. So how many mailers would I need to mail out to make my chances of getting a deal from one 99.9%? I'm in Sacramento CA and the average home price in my area is just over $200k.
Flipper/Rehabber · Tampa, FL · Member since 2012 · 17 posts · 6 votes
13y
Hey Andrew,
My wife and I started sending out about 10-20 hand written letters a day( Yellow Letters) - so it worked out to about 100 a week. We were getting about a 10% response rate - so 5-10 calls or so a week. After about 6 months of doing that we had done 15 deals( wholesale flips) - we got lucky because one of the sellers had 10 properties to unload and we got them all sold - then we were off and running!!
Moral of the story is just get it started and things will start happening.
Hand written Yellow Letters are the best! ( just gave out my #1 ninja secret)
Rocklin CA · Member since 2013 · 88 posts · 12 votes
13y
Why do you NEED to get a deal from this mailing? This is a tough business and being new there is a huge learning curve so don't get disappointed if you don't get a deal right away. It's about quality not quantity for leads, what are you using to decide who to send the mailers too? Without knowing much about your situation I would drive for dollars and send mailers out to places that you believe may need to be rehabbed or that you could add value to. Your neighborhood is crawling with distressed properties. After that it is mostly circumstances and salesmanship!
Rehabber · Glen Rock, NJ · Member since 2013 · 28 posts · 2 votes
13y
I've been sending out mailers for a couple of months now an if I had to guess I'd say a gazillion lol. Honestly, my response rate has been pretty good I feel, but my audience "just aren't quite ready to sell yet" but promise me when they are I'm their first call. So I persevere and view it as building a potential pipeline of potential properties as I continue to try and source out deals for now. The price range I'm targeting I'd say is 500 - 750k depending upon the town and home.
Antelope, CA · Member since 2012 · 23 posts · 1 vote
13y
@Dennis Wow...I was hoping I was going to hear someone say 1,000, maybe 1,500 tops.
@Jeff I NEED to get a deal on the first mailing because I am taking money out of my savings to do this. If it doesnt work, wife is going to be upset I "wasted" that money and I don't need anymore stress in my life. :)
@Dennis Wow...I was hoping I was going to hear someone say 1,000, maybe 1,500 tops.
@Jeff I NEED to get a deal on the first mailing because I am taking money out of my savings to do this. If it doesnt work, wife is going to be upset I "wasted" that money and I don't need anymore stress in my life. :)
NEED is a good and bad place to start from in this business. Good because it can motivate you to persist. BAD because it can take some time to get your first deal.
Even if those mailers got you 10 motivated sellers, your inexperience alone might make you lose half of them by not knowing how to structure them, and blow the other half just due to plain ol' being green.
Flipper/Rehabber · Tampa, FL · Member since 2012 · 17 posts · 6 votes
13y
Hey Andrew,
My wife and I started sending out about 10-20 hand written letters a day( Yellow Letters) - so it worked out to about 100 a week. We were getting about a 10% response rate - so 5-10 calls or so a week. After about 6 months of doing that we had done 15 deals( wholesale flips) - we got lucky because one of the sellers had 10 properties to unload and we got them all sold - then we were off and running!!
Moral of the story is just get it started and things will start happening.
Hand written Yellow Letters are the best! ( just gave out my #1 ninja secret)
@Dennis Wow...I was hoping I was going to hear someone say 1,000, maybe 1,500 tops.
@Jeff I NEED to get a deal on the first mailing because I am taking money out of my savings to do this. If it doesnt work, wife is going to be upset I "wasted" that money and I don't need anymore stress in my life. :)
gotta make sure wifey is down with this business plan. don't risk money you can't afford to lose. start by doing some of those "ninja" tactics, and save expendable cash for mailers. as much as people make it seem like wholesaling is a quick way to earn quick cash, it isn't. it takes hard work.