3 yellow letters...first wholesale deal!

Wholesaling
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3 yellow letters...first wholesale deal!

Ryan Melton
North Little Rock, AR · Member since 2014 · 10 posts · 8 votes

I sent out three yellow letters a couple of weeks ago.  I found the houses while "driving for dollars."  I listed my google voice number on the letter so when I got the phone call "real estate" pops up on my phone.  I just about flipped.  I ended up getting the house under contract 5 days ago.  I found my cash buyer last night.  We meet today with a $2000 dollar non-refundable deposit and a contract.  It definitely wasn't a homerun but it's a deal!

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PAUL ARNDT
Peoria, AZ · Member since 2014 · 26 posts · 6 votes
12y

Nice job!

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  • Michael Lemieux
    Investor · Deerfield Beach Florida and Tupper Lake, N.Y. · Member since 2013 · 307 posts · 118 votes
    12y

    Very nice @Ryan Melton . Send out 3 more! : )

    0Reply
  • Jay S.
    Houston, TX · Member since 2014 · 84 posts · 13 votes
    12y

    @Ryan Melton  Congrats on your first wholesale deal! Keep it up!

    0Reply
  • Chetan Tandon
    Investor · Fort Lauderdale, FL · Member since 2013 · 250 posts · 7 votes
    12y

    I have used direct mail (letters, postcards) and also email. So I don't where im going wrong but its really frustrating when you this hard and you don't see any results.

    Thank you

    0Reply
  • Chetan Tandon
    Investor · Fort Lauderdale, FL · Member since 2013 · 250 posts · 7 votes
    12y

    To Ryan,

    I wrote the same thing on the letters that I send it to atleast 1000 ppl but I still haven't got no response.

    Thank you

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @Chetan Tandon 

    @Ryan Melton 

    what Ryan did was target market.. he only sent letters to homes that met a criteria.. Not shot gun style..

    So when you drive around looking for deals you are putting far more effort into the process then just hiring a service to send out postcards and wishing someone will call you.

    Depends on the market as well.  Little Rock probably is not hit as hard as other parts of the country.

    I don't solicit for deals personally, but I get a lot of this collarteral sent to me on house's we own all over the US>.. Hot markets for me to get letters of varying nature are

    Orlando,, KC  , Houston... and Charleston.  Here in Oregon I never get letters on any thing we own here.. But we are not distressed.. and a lot of what I get is reverse.. Its from other wholesalers saying Hey I noticed you bought a home in the area and I have deals please check my deals out....

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @Ryan Melton 

      were these houses all vacant??  if there was someone living there would you have door knocked them ? and skipped the letter sending ?

    good job... You would be a good real estate agent with that kind of drive.. probably do pretty well at it.

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  • Chetan Tandon
    Investor · Fort Lauderdale, FL · Member since 2013 · 250 posts · 7 votes
    12y

    I did the same thing I send the letters and email to certain ppl like who are in distressed "pre foreclosure"

    0Reply
  • Ryan Melton
    OP
    North Little Rock, AR · Member since 2014 · 10 posts · 8 votes
    12y

    @Jay Hinrichs  the houses appeared to be vacant. When I pulled the county records I knew the owner didn't live there. I'm not sure I would knock the doors. I'm sure that could be effective but it seems it could embarrass the homeowner. 

    I've just started taking a different route every time I go somewhere and look for distressed properties. I'm working to build a list that I will continue mailing several times. I also plan to start mass mailing soon. 

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    12y

    @Ryan Melton 

      building a data base of would be targets and then staying on them is an excellent way to go at least you know your fishing in a pond that has some fish in it.

    @Chetan Tandon 

    if your mailing NOD list then your mailing is most likely one of 20 to 50 letters that they receive through the NOD process... All basically using the same script and technique that are taught on line on BP or at seminars.. I used to do NOD myself.. door knocking was the only way to get in front of those folks. I did not door knock myself.. I had teams that I hired do it... one women one man 3 teams working a 2 million metro population we hit EVERY NOD that came up created data bases , Had one employee that did nothing but data base entry and updates in real time.. In other words a business. But one day you may get a call.

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  • Leigh Ann Smith
    Manvel, TX · Member since 2014 · 309 posts · 127 votes
    12y

    @Quint Beniers , I'd suggest you listen to Podcast 77 with Michael Quarles. He talks about how he negotiates with prospective sellers when they call.

    http://www.biggerpockets.com/renewsblog/2014/07/03/bp-podcast-077-negotiating-way-1000-wholetail-deals-michael-quarles/

    0Reply
  • Terry HershbergerPro Member
    Investor · Nipomo, CA · Member since 2011 · 227 posts · 76 votes
    12y

    I believe the secret recipe is more in the "LIST" than the actual "LETTER". People must be motivated by something to call no matter what the letter says. Driving for dollars can create you a good list!

    Happy Investing!

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