All Forum Posts by: Alex Palma

@Patrick Britton You are absolutely right. This area has many second homes and not many people which are in distress. I was hoping to maybe find a few which were interested in selling and not wanting to hold onto a second property anymore. Regardless, my wife is starting her own real estate campaign and maybe from her own campaign we can siphon some "distressed" properties for our portfolio.

@Michael S. I had many of those that strung me along, but I am also used to working in the ER when I have many drug seekers trying to pass me fast ones to obtain their oxycodones. Luckily my wife is a real estate agent so therefore I have access to all the information on the MLS. I have tried to connect with a local agents to find "pocket listings" but they seem to be very close knit and find me as a threat rather than an alley. Therefore I will be looking for alternatives in networking, rotary club, chamber meetings, ext.

@Jay Hinrichs Thanks for the insight. I I thought with 5000 letters I would gain some traction. I was not naïve to think it would be the golden ticket, but was hoping I would crack the door slighlty. Regardless, the experience has brought me lots of knowledge of the real estate market. Getting beat up on the phone has helped me build character. Ironically, I will be placing my first contract on a handwritten letter I sent out rather than from my 5000 letters. The transaction did not come out from the yellow letters but from the actual handwritten letter. Regardless its still a win!

@josh walker Thanks for responding. I sent to a DM

@Anish Tolia

Even though I am a physician it does not take away from the aspiration of being an entrepreneur. I think you for the kind comments but restricting myself from an opportunity would not be internally well perceive. But since you mentioned passive, please provide some examples; ?Syndication?

Great insight guys... I will start my pivot campaign and do some driving for dollars & recall some of the potential sellers. I think my rapport was strong, as an ER doctor I build rapport with patients fairly well. But I will not be muddled by my own grandiose ideas of perfection. This has been a humbling experience, and I will find the inner strength not to be pulled underneath.

Used yellowLetters complete to send a 6 month campaign to outside owners (absentee) non-llc,  who have 50-100% equity in the Florida Keys. I fielded over 150 calls, and had no reasonable leads. I added a new phone number to my phone to avoid people having my number & purchased a UPS mail box because it has real address. I made it a point to call & speak to everyone.  Nothing stuck.  You can imagine after spending $5000 in mailers and not even submitting one contract, it really takes a blow to one's professional business plan ego.  Not sure if to cough up another couple thousand dollars and try a different list algorithm on ListSource or pivot to different plan. 

I will start performing "driving-for-dollars" this week and hope to maybe get some traction. 

Taking calls from "sellers" was interesting. The most common theme I heard was "I have the best home on the block", its amazing how many people really think they have the best house.  Also had some people that were angry because they received a yellow letter, threatening to report me for harassing! lol

I had a local real estate agent hide behind a fake email telling me "I cant be contacting his buyers, that it was illegal". When I answered him, he hid behind his email & text and did not have the fortitude to answer.

Its a tough world out there!!!

Done venting..thanks for reading this far!

@Alex Palma

Any other thoughts from this great community!

@Wayne Brooks

Thank you very much. I figured as much that this was more of “scare”.

I did reach out to by phone call and text message with no response asking for some references to my wrong doing so I can play “nice in the sandbox”. I’m still waiting for a response for my own education. I’m in a small community & I want to play by the rules.

I started my Yellow letter campaign using absentee owners & equity above 50%. I have received lots of calls, but no deals yet.

I’m also using an alternative phone number on my letters to avoid using my personal number.

Anyways, a local very well respected & successful agent texts me PERSONALLY on my actual cell phone at 5:47am:

“Alex

Your sending these letters to listed properties. This is my listing. It’s on mls.

You can’t do this. There must be a disclaimer if it’s listed.

This is the second one of my sellers have shown me this. “

For full disclosure I am NOT an agent, but my wife is an agent. Also, my letters do NOT reference my wife or her services at all! I am not soliciting listings, but seeking potential purchases for BRRRRs.

Is there something I’m doing wrong by sending out marketing yellow letters? Am I practicing within the scopes of MY rights?

Thanks!!