All Forum Posts by: Braden Smith

Hey @Doug Haisten. First off, what list are you mailing? I can base an answer to that question differently based on the list being mailed, but see below for a general response...

When a lead asks how you got their name or why they are on your list, just be truthful and reply with something along these lines:

Well, Mr/Mrs _____, we are local real estate investors who buy properties throughout the ____  (insert city name) area and we send out mailers based on certain buying criteria, so your home must have met at least some of that criteria. We pay a service to send this mail out so I dont know off the top of my head what criteria your home met. Have you considering selling your property?

Dont start off the conversation with a lie. Be honest and answer their question truthfully, but use some tact. If they are serious about selling they will talk to you. If someone asks that question they are probably annoyed by the mailer, but so what... they either want to sell or they dont. Just be yourself and use your own personality. Dont overthink it.

Hope that helps some! Good luck!!

What is the homeowners goal? 

Do they want to sell?

Do they want to try and stay?

You need to know what the seller's goal is in order to determine the best course of action for her. You should look at things from this perspective each time. What is the problem the homeowner is facing, what is their goal with regards to the situation, and finally, how can you best help them solve their problem and achieve their goals.

All sales need three things to happen... Know. Like. Trust. The seller must know you, like you and trust you. Work on that first before anything else.

If she owes 254k and the ARV is 270-290k that doesn't leave much room for rehab costs. How much work does the property need?

What type of mailers have you been using that are not working?

In my opinion, the "yellow letters" are played out and don't work very well anymore. At least not in my market. Our market in New Orleans is saturated with investors and has been for some time. There are just too many people sending out the same stuff for mailers.

I had one prospect send me a picture of all the mail pieces he has received over a 4-6 week period and he had received about 30 pieces of mail in that short time. That was a few years ago in an area that was being rapidly gentrified, but that goes to show you how many people were mailing the area.

Our market is still being mailed heavily, especially in certain neighborhoods, but I think if you are going to do direct mail you need to get creative and stand out from the crowd. Yellow letters are not creative and don't stand out. When nobody else was doing them they were unique and stood out. Now everyone does them.

In my opinion, the "yellow letters" are played out and don't work very well anymore. At least not in my market. Our market in New Orleans is saturated with investors and has been for some time. There are just too many people sending out the same stuff for mailers. 

I had one prospect send me a picture of all the mail pieces he has received over a 4-6 week period and he had received about 30 pieces of mail in that short time. That was a few years ago in an area that was being rapidly gentrified, but that goes to show you how many people were mailing the area.

Our market is still being mailed heavily, especially in certain neighborhoods, but I think if you are going to do direct mail you need to get creative and stand out from the crowd. Yellow letters are not creative and don't stand out. When nobody else was doing them they were unique and stood out. Now everyone does them.

@Sharad M. I would like to talk to you about pricing a direct mail campaign I am working on. What is the best way to contact you?

Hey @Sharad M.  Do you allow customers to use their own letters and postcards, or do they have to choose from available templates?

Hey @LaShonda Atkinson. Welcome to BP! 

Focus your efforts on those sellers that have a NEED to sell, rather than a WANT. If you can't find any compelling issue or problem that provides real motivation to sell, you should just move on.

See my post in this discussion - https://www.biggerpockets.com/forums/87/topics/434...

If you have any questions, let me know!

Good luck with your investing!!

Hi @Youdo Thirakul. I'm an investor and a realtor in New Orleans, LA. I have been asking other realtors, investors and builders what they are seeing in the market for the last couple of weeks. The general consensus is that the market has slowed. We are seeing less showings, longer days on market and less activity in general. This is especially true with higher dollar properties, and this trend seems to be happening nationwide and not just here in New Orleans from what I am being told. (I have talked to people in other markets and states also.)  I'm not real sure why there seems to be such a softening, but it is definitely happening. I am going to keep pushing forward with flips and new construction, but I am going to focus on lower dollar properties, and I am going to limit the number of projects I have going at one time to play it safe. I dont want to get caught with my pants down if the market takes a dive. But if it does take a dive, I'll be ready to buy some rental property on the cheap!

You definitely need an investor friendly title attorney and they need to review your contracts to make sure they are legal and worded properly. 

See here for more info on wholesaling - 

https://www.biggerpockets.com/renewsblog/2015/01/3...

https://www.biggerpockets.com/renewsblog/2013/05/0...

https://www.biggerpockets.com/renewsblog/2015/03/2...

https://www.biggerpockets.com/forums/93-wholesalin...