Yellow Letter good enough?

19 Replies

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

[email protected]

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!

No problem

Just remember, keep it real simple and you will be fine

Have a great day!

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

@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

[email protected]

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

@Dev Horn  good points! It is somewhat time consuming to create personalized typed letters for 500+ people. In my next mailing I am going to hand write some and type some to see which ones get responses. A lot of wholesalers say that they get good responses with handwritten letters but I know if I got a hand written letter at my front door I would think its a scam. I'm gonna test out both methods. I agree I need to get more prospects. Thanks!

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.).

Great points Mike

Simple things but huge difference

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.

Is it ok to leave a line for me to hand write the name and address. For example,

Dear________,

Your house at ________________ is in a neighborhood I am looking to buy in.

@Dev Horn  I hand address the envelope and type the letters. But I don't individually type the letters each time. I just change the name and address but I'd like to find a faster way to standardize the letters. Eventually I want to start doing post cards instead but for now i want to focus on YLs

@Kelsen J.  If you are doing the letters yourself, you can easily personalize them without typing each letter out one-by-one. All you have to do is do a mail merge from Excel to Word and it will personalize the letters with each name and address.

Originally posted by @Kelsen J

Is it ok to leave a line for me to hand write the name and address. For example,

Dear________,

Your house at ________________ is in a neighborhood I am looking to buy in.

 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)

First of all on 150 letters you got three phone calls . 

Which means more than that opened your letter.

3 phone calls is about 2 percent which is a good return for RE Mailings.

BUT you can improve. 

Dear First Name,

My significant other (Wife, Husband, Girlfriend) and I  have been wanting to move to your neighborhood for a while. We can buy your house all cash (or whatever strategy you are implementing) . If you are interested please give me a call  at 

Sincerely,

Your FIrst Lastname.

I have used this in a simple invitation envelope handwritten and typewritten letter and have gotten up to 10% response rate.

For your 150 letters you should be spending about 150$. If you get one wholesale out of it then its atleast a 3k fee. This is a 20 times return. Good business. 

Good luck.

Tapan

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

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 !!!

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