Yellow Letter good enough?

Question

Hi BP,

I'm still fairly new to wholesaling. I've sent out 150 yellow letters within the past two weeks. I received 3 responses...none of them are interested in selling. I type my letter on yellow printer paper. I thought I would be getting alot of responses but its been really slow. I only mail to specific homeowners....Vacant homes/absentee owners, blighted homes, homeowners who owe taxes. I am hoping that I can come close to at least one deal in October.

I would like to know if my letter is good enough. Is it too formal? Should I add or delete something? Should I send out more yellow letters to get responses? I have a limited budget, should I try a different method (i.e. bandit signs, Craigslist etc)? Any advice would be greatly appreciated!!

Dear Ms. Ware,

I am writing you today because I was driving through the neighborhood and I noticed your house located at 123 ABC Ave, City, State.

I buy houses  like yours & I am looking for more in the area. I am a cash buyer interested in buying your house if you want to sell it. No repairs necessary.

If you are interested in selling your home for cash anytime soon please give me a call for a solution.

I look forward to hearing from you. Please call me today.

Sincerely,

Kelsen J.

xxx-xxx-xxxx Voicemail/Mobile

xxxxxxx@gmail.com

Michael Quarles · Answer

@Kelsen J.

My 2¢

Dear Ms. Ware, First Name,

I am writing you today because I was driving through the neighborhood and I noticed your house located at 123 ABC Ave, City, State. Were you actually driving through the neighborhood? If not remove driving trough and say your house is in a neighborhood I like.

I buy houses  like yours & and I am looking for more in the area. I am a  cash buyer and I am interested in buying your house if you want to sell it for cash. No repairs necessary.

If you are interested in selling your home for cash anytime soon please give me a call for a solution so we can discuss a win win offer.

I look forward to hearing from you. Please call me today.

Sincerely,

Kelsen J.

xxx-xxx-xxxx Voicemail/Mobile

xxxxxxx@gmail.com

So it would look like:

Dear First Name,

Your house at 123 ABC Ave. is in a neighborhood I am looking to buy in.

I am interested in buying your house for cash. No repairs necessary.

If you are interested in selling your home for cash anytime soon please give me a call so we can discuss a win win offer.

I look forward to hearing from you.

Sincerely,

Kelsen J.

xxx-xxx-xxxx

Jerry Puckett · Answer

Kelsen, check this out. It's a complete guide to yellow letters. It covers several methods of production if you're determined to do it on your own.

(complete disclosure: @Scott Costello the author of the article does also review my company and several others on the same page)

Dev Horn · Answer

Hey Kelsen - I think your message is fine.  To get good response, you need:

1) increase the number of prospects you're touching - 500, 1,000+

2) hit them repeatedly.

Your letter doesn't create motivation, it can only help you to discover it.  You need to be touching owners in your market over and over to find the deals there.  Not much way around that.  Few people send out 150 letters and score amazing deals.  Just not enough volume....

“It’s not the will to win that matters – everyone has that. It’s the will to prepare to win that matters.” ~ Paul “Bear” Bryant

Michael Quarles · Answer

And for everyone reading... I would buy Yellow Letters from Jerry if I didn't sell them myself...

Michael Quarles · Answer

@Kelsen J.

You will want to use a handwritten font and mail merge the variable data... I cant post the font however I can email it.

Or I know a guy who produces YellowLetters for around 79 cents.

Dev Horn · Answer

If you're doing YLs yourself, just hand address the ENVELOPE.

PRINT the letter on a printer to increase your efficiency.  Your goal is to get them to open it and see your offer.

Gerald Harris · Answer

Here is a link that i posted a while back.   This will help you out in getting a higher response rate.  Use this I got a 10% plus percent repoonse rate

1.  Handwritten in Red Ink will automatically get you a higher response rate

http://www.biggerpockets.com/blogs/5258/blog_posts...

hope this helps!

Kelsen J. · Answer

ahhh thanks @Michael Quarles I'm going to edit it now!

Sometimes I do put their first name if its two homeowners or I can't identify whether male (Mr.) or female (Ms.).

J.j. McGuigan · Answer

One thing I read on a BP blog was that it's important to hit the same people with those letters as well as reaching new ones.  For instance if you make 1000 letters and send out 250 of them to people you might not get a response on the first one.  But instead of sending the next 250 to a different group of people go ahead and send them to the same.  The blogger was saying he gets a lot of responses and deals done off the 2nd 3rd or 4th mailing.  It gets them thinking about it and they know that you are serious if you send it to them again, granted you allow some time to elapse so they don't feel like they're being bothered.  What the blogger, and I forget their name, said was that in those 1000 letters you should send it to 250 people 4X to get more responses than sending it to 1000 different people.  That could be a method worth trying Kelsen, I know I learned the same thing when I worked in Insurance for 3 years.  First you get them thinking about it and then by repeat follow ups you can get them to at least set up a meet up with you to discuss the potential deal.  Hope this helps and good luck !!!

Kelsen J. · Answer

Thanks @Tapan Trivedi and everyone else for your advice! I will keep you updated!

Yellow Letter good enough?

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