Wholesaler Letter to Seller

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Wholesaler Letter to Seller

Doug Price
Roanoke, VA · Member since 2016 · 29 posts · 44 votes

I want to get some feedback to a letter I am sending to solicit potential sellers. This is a second draft based on feedback I received from my local REI group.

I am sending the following letter in a hand addressed envelop with an attached handwritten post-it note that says, "Dear Eddie, Please give me a call anytime. Thanks, Doug ###-###-####"

Here is the letter, thanks BP nation for any feedback on making it better:

Dear Eddie,

Recently, I noticed your property at 526 Chapman Ave NW, Roanoke, and I wanted to reach out to you to see if you are interested in selling it.

Please give me a call to discuss the benefits I can provide:

  • -I buy with cash to close quickly! As quick as 7 days!
  • -I convert your unwanted home into much needed cash! Who doesn’t need more cash!
  • -I buy your home as-is! No need to repair or clean it out!
  • -I purchase your home at no cost to you! No commissions or unexpected fees!

Regardless of why you need to sell your property, I would like the opportunity to speak with you about potentially being a solution. I look forward to hearing from you soon. Please call me at ###-###-####.

Thanks for your time.

Sincerely,

Doug Price

###-###-####

9Reply
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Doug Vigliano
Specialist · Austin, TX · Member since 2015 · 56 posts · 46 votes
9y

Hi Doug, the copy looks great, the only thing I would add that seems to work well would be:  "if you're not ready to sell your house now, please keep this letter with your important papers" ... That seems to go a long way w/ sellers and sometimes they actually do it!  Best of luck in your marketing!

17Reply
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  • Doug Vigliano
    Specialist · Austin, TX · Member since 2015 · 56 posts · 46 votes
    9y

    Hi Doug, the copy looks great, the only thing I would add that seems to work well would be:  "if you're not ready to sell your house now, please keep this letter with your important papers" ... That seems to go a long way w/ sellers and sometimes they actually do it!  Best of luck in your marketing!

    17Reply
  • Steven Leigh
    Wholesaler · Dayton, OH · Member since 2016 · 252 posts · 227 votes
    9y

    @Doug Vigliano that's a great tip. I'm going to have to add that to my letter.

    @Doug Price I think it all looks pretty good. Just a grammar thing but I would maybe write "about potentially providing a solution." 

    Also, do you have a website? If not, no big deal, but if you do, it's a good idea to put it on the letter so they can check up on you and "see if this guy is for real." :)

    Beyond that, it seems pretty professional but a little personal, and will probably do pretty well for you.

    The reality is that success with any mailing piece has way more to do with the seller's motivation and the timing that it is received than it does the actual content. Yeah, certain things appeal to certain people, which is why it's good to try several different mailing types (some people like the "professional businessman" style and others like the "individual investor doing handwritten letters" style. You can even mix it up with different names and phone numbers so they think they came from different businesses.

    But I was joking with a colleague today that if a seller is actually motivated and your letter arrives at just the right time, you could practically write "You're a stupid jerk! Now sell me your house!" and you'd probably still get a call. :)

    One last thing I'd recommend is to try some split testing. Not sure whether to include a company logo? Send 200 with one and 200 without and track the number of calls with two different numbers through RingCentral or another service. Does the post-it note make a difference? Split test and find out. You get the idea.

    Good luck! Come back and let us know the results. I'm always looking for new mail combos. I might have to try your post-it idea actually.

    3Reply
  • Doug Price
    OP
    Roanoke, VA · Member since 2016 · 29 posts · 44 votes
    9y

    Thanks @Doug Vigliano and @Steven Leigh for the great tips. I've revised the letter in preparation for another mailing this weekend.

    0Reply
  • Charlie John
    Investor · Twin Cities, MN · Member since 2015 · 130 posts · 111 votes
    9y

    @Doug Price I would remove your second bullet point. Not everybody needs the cash and not everybody owns an unwanted home. I have bought houses from people that have plenty of money already. It was the fact that their house wasn't retail ready and was embarrassing for them that they sold to me without going the traditional realtor route. 

    3Reply
  • Account Closed
    Investor · Orlando, FL · Member since 2016 · 1k+ posts · 780 votes
    9y

    This is a typical letter sent by many potential investors. I use a more personal approach. What is the circumstance to sending the letter?

    0Reply
  • Account Closed
    Mesa, AZ · Member since 2016 · 18 posts · 8 votes
    9y
    Is a letter better than knocking on the door or calling if you have a number?
    0Reply
  • Doug Price
    OP
    Roanoke, VA · Member since 2016 · 29 posts · 44 votes
    9y

    @Account Closed I am sending this letter to only property owners who's home is clearly abandoned. In other words I am driving for dollars at the moment. 

    I have received one viable response on two mailings totaling about 75 letters. Not exactly stellar. 

    2Reply
  • Rayetta ChavezPro Member
    Albuquerque, NM · Member since 2016 · 25 posts · 17 votes
    9y

    Great tips from all, I am taking notes.  I am a newbie attracted to the wholesale part of investing so this is awesome to read up on.

    3Reply
  • Paul AmegatcherPro Member
    Rental Property Investor · Brookville, OH · Member since 2016 · 488 posts · 363 votes
    9y

    I have great success with this basic yellow letter:

    Dear John Smith,

    My name is Paul Amegatcher and

    I would like to buy your house at

    123 Main St,

    Anywhere USA 12345

    Please call me at 123456789

    If you are interested in selling.

    Thanks for your time,

    I hope to hear from you soon.

    Paul Amegatcher

    123456789

    This has worked great for me.  Simple no explanation needed.  If they ask why I mailed them the letter I always state that my buddy noticed that their house was vacant and told me about it.  People will call you if they are motivated enough.  There is no rhyme or reason why these letters work or don't work.  Just send them and play the numbers game.

    Paul

    14Reply
  • Adam M.
    Denver, CO · Member since 2016 · 51 posts · 29 votes
    9y

    I'd add something like this with the letter as it's worked for me, it's personal yet let's them know your're serious. There's so many people doing direct mail that how are they suppose to know it's you or not? They through most of the postcards away at first glance anyway. But if they think you've been persistent then you'll be using the competitions marketing as leverage!

    "Hello Tom,

    I have been trying to get a hold of you for the past few weeks and am looking for a property to buy as an investment in the next month.

    Unfortunately, I have not been successful in contacting you so as a last resort; I have sent you this letter in the hopes that you will respond back soon. I want to make things as easy as possible for us to do business.

    I am not sure of the condition of any house you or someone you know may have for sale but it would be OK if the property needs some work.

    I would also buy the property with tenants there so you won’t have to ask them to move out AND I will even be willing to help you by paying for ALL of your closing costs on the transaction. And I’m not a Realtor so there would be no commissions.

    I’m not sure if you’re aware but you can choose the closing date – whether you want to close fast or in a couple of months. I don’t care either way.

    Please take a moment and give me a call at ***-***-****.

    Please try and call as soon as possible. I hope that we can work something out.. I am very anxious to hear from you in the next couple of days as I’m looking for an investment property soon and will pay a "finder's fee" for anyone I buy a house from that you refer to me."

    5Reply
  • Account Closed
    Investor · Orlando, FL · Member since 2016 · 1k+ posts · 780 votes
    9y

    I get a lot better response in making my letter more personal and about solving their problems. Not the typical letter everybody is sending out. 

    2Reply
  • Jeff Filali
    Rental Property Investor · Broken Arrow, OK · Member since 2016 · 1k+ posts · 1k+ votes
    9y

    Agree 100% that different approaches will appeal to different people.  Send multiple mailings to the same people again with different versions (Simple Yellow Letter, Professional Typed Letter, Post Card etc).  Activity creates activity & there's a fortune in the follow-up!!  Keep Grinding!!

    2Reply
  • Christopher Gandara
    miami, FL · Member since 2018 · 8 posts · 2 votes
    8y

    any updates for us? I'm currently trying to put together a good letter. Thanks in advance 

    2Reply
  • Philissa Gilliard
    Ellenwood, GA · Member since 2018 · 55 posts · 11 votes
    8y

    Great information! 

    Thanks everyone.

    1Reply
  • Deldric A.
    Birmingham, AL · Member since 2018 · 6 posts · 6 votes
    8y

    So, wholesalers are we not to disclose all information upfront if you know your intent is to really help locate them a buyer with cash and not actually buying the home? That way, you are not misleading the seller that you would be the actual person purchasing the home but instead assigning the contract to a cash buyer. I was told saying "I buy houses" makes it dishonest and later the seller finds out another individual actually purchased the property. Just trying to cover all the gray areas..

    5Reply
  • RH Steen
    Member since 2018 · 1 post · 6 votes
    8y

    @Deldric Aquanta Dunning, I would say that most wholesalers say "I buy houses" because there is no other good way to explain this process. You can't disclose everything upfront because let's face it, at any given time you could find a property that you want to buy and keep for yourself as an investment property. The contingency clause in your contract gives you the option to assign the contract to another investor if you choose to do so. Hope that helps.

    6Reply
  • Shanequa Dames
    Investor · Florda · Member since 2018 · 18 posts · 10 votes
    7y

    I'm officially starting with yellow letters today. My wording is basic. I have been researching all year.  I'm nervous, but i need to start marketing already.  I'm trying to do something everyday. 

    5Reply
  • Allia Grove
    Member since 2017 · 1 post · 1 vote
    7y

    @Shanequa Dames Good for you!  I'm a newbie and looking to get started too.  The yellow letters seem to be a great marketing strategy.  I'm starting too!  Good luck to you

    1Reply
  • Anna Slater
    Member since 2019 · 1 post · 3 votes
    7y

    I find housing, do the search for taxes owed and the owner then I get stuck. I am scared shitless. I wish it were someone that genuinely said hey come shadow me. I'll walk you through the process. 

    3Reply
  • Lydia R.
    Investor · Austin TX · Member since 2016 · 1k+ posts · 2k+ votes
    7y

    @Anna Slater Have you tried going to local REIAs? I cant promise that you will meet someone who will let you shadow them but you should be able to at least meet some people in your market who can give you some pointers.

    3Reply
  • Greg Larson
    Investor · Knoxville, TN · Member since 2016 · 116 posts · 26 votes
    7y
    Originally posted by @Anna Slater:

    I find housing, do the search for taxes owed and the owner then I get stuck. I am scared shitless. I wish it were someone that genuinely said hey come shadow me. I'll walk you through the process. 

    Anna, why be scared?  The worst that could happen is someone calls you wondering how you got their information, or to tell you to take them off your list.  After that it's smooth sailing, nothing to be nervous about.

    You got this!

    2Reply
  • Donald Knight
    Real Estate Professional · Atlanta, GA · Member since 2016 · 6 posts · 1 vote
    7y

    Late to the party; however, this is super helpful. I joined BP two years ago, but didn't make time to focus on investing. 

    Thanks to each of you for your feedback, collectively. Happy to connect with anyone in the Greater Atlanta market. 

    1Reply
  • Jennifer Davis
    Euclid, OH · Member since 2016 · 1 post · 1 vote
    7y

    @Anna Slater  I'm just getting started too. Went driving for dollars a few days ago now I'm looking up the properties that looked abandon. @Lydia R. makes a good point. I went to an REIA event and received some great information. I too am looking for someone to mentor me. Now that I have the owner's names how do i get in contact with them if the home is abandoned? Thanks to those that posted their letters.

    1Reply
  • Gary Jourdain
    Member since 2020 · 2 posts · 0 votes
    6y

    Good morning every I am pretty new to wholesaling. I am working on my yellow letter and wanted to see if this is a good version 

    Being raised in the area, it is my job to help those that live around me. If you ever

    have questions about real estate or selling your home, I would love to help. I work for
    one of the best real estate companies that make sure good service is always first. If
    you have any friends, family, or co-workers who are thinking about selling or buying, I’d
    be honored if you consider referring them to me. Feel free to call me at ### ### ###  if
    you have questions about Real Estate.
    Sincerely,

    0Reply
  • Braden C.
    Real Estate Investor · FL · Member since 2011 · 586 posts · 360 votes
    6y

    @Gary Jourdain Are you wanting to wholesale these leads or get listings as an agent? It came across to me as you being an agent, I think the recipients would probably think the same thing. I much prefer a professional letter to a yellow letter but if you're set on yellow letters, I would keep it short and sweet. "My name is Gary and I am a LOCAL real estate investor. I would love the opportunity to make you an offer at the property you own at 1234 Main Street. Give me a call at ###-###-####. Sincerely, Gary." 

    2Reply
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