I"m in the DFW area and I'm brand spanking new at this. I want to make a legacy for my family and have always been interested in real estate.
That being said, I'm looking at starting a yellow letter campaign. So in the letter I say I want to BUY your house, and I can offer CASH right now.
The question is when/if the seller calls, how do you transition this from I'm buying cash now to maybe later if I can get you to sign a contract to represent you.
Also, the assignment letter I found on BP says
Assignment is not valid until __$1000.00 dollars deposit is received.
Does that mean I'm offering $1000.00 to represent? do I get that back? how does that work?
Thanks, I really appreciate the help and looking to network with others.
I'm confused. Are you talking about wholesaling (in which case you would put it under contract and could market the equitable interest you have in the property), or representing them as an agent?
If you're just looking to pick up business as an agent, I would use a different marketing piece that makes that clear.
So my understand of wholesaling, and please correct, is to find a property, and then turn around to offer it to a seller for a fee. Correct?
One of the ways to do is is to create a yellow letter campaign. So you write I want to buy your house for cash...
Now when you get a call, you want to connect the seller with the buyer and in doing so you would need an agreement between the seller, myself and the buyer.
So how do I get the conversation moving or did I miss the point completely?
Maybe I'm asking the wrong question.
I see lots of yellow letter campaigns that say I will buy your house.
If your intention is to connect a potential seller to a buyer, do you still say that?
George, if your intention is to buy the house, your letter needs to say buy. Otherwise the people that call will not have the type of motivation level that you need to add value and make money.
If, after talking with the seller you realize that they dont need a cash buyer but actually just need to list it, explain to them that the best option for them would be for you to list it. It just comes down to effective communication once you get that call.
Also, dont over think what the letter says. As long as you are along the guidelines of all the different types of letters floating around you will be in good shape. It's MORE important that you get the letters out, in as high a volume as you can afford.
So what should the letter say if my intention is to find them a buyer?
I really appreciate everyone's responses.
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