I have been getting a pretty good response rate on my letters I been sending out. Notice I didn't say yellow letters because I do not do them. I just type up my letter and copy a handwritten P.S. at the bottom and send in a hand written envelop and they do pretty good for me (for now). So like most people will probably say majority of your calls from a AO list will be landlords either on purpose or by mistake but they will likely be landlords.
So they are not all motivated to the point where they are ready to give up huge discounts but some are pleasant and willing to sell. Most of them are rented out with leases in place and the sellers say are in good condition. So these are bought strictly off of cashflow then right? So how do you wholesale this? From most of my reading most people are not buying rentals with all cash unless they are buying distressed? But are refinancing after they have it fixed and rented, but these properties already have all of this in place.
So I see value in buying a property like this if the numbers work but would be with regular financing. Should I just be letting these leads go and not waste my time in terms of wholesaling or what? I hear people on the podcast say every lead gets a offer and thats something I am looking to start doing, but how should I be working my offers on properties like this?
my first question is how are you keeping track of any lead you are marketing to? Are you using a CRM (customer relationship manager) or even just a spread sheet?
Instead of throwing away a lead that doesn't convert today, market to them in a few months to see if the situation has changed. Unless they say do not contact me ever, why not reach out to them again, especially if it's a lead you purchased like from list source.
Anytime I mail something or send an email via Craigslist I put the contact info in a spreadsheet so I can easily do a mail merge for future mailings or emails. If it's a lead I've been in contact with and started a dialogue with ill move them to the CRM for better lead follow up and nuturing.