All Forum Posts by: Account Closed
Account Closed has started 1 posts and replied 380 times.
Post: Cant buy a house
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Mark Forest:
I am working with a good Realtor and I make offers well above asking. I just lost out on another offer I made. It will be interesting to find out the winning bid upon closing. The house before this I made a cash offer with no contingencies and, an offer $1500 LESS than mine was accepted instead.
Is there some "inside track" I am not aware of?
If your offer is above what the seller wanted (which is probably already at or about market value) what sort of margin are you looking to make on the deal? Or is this a rental? Also sounds like these are MLS listings?
Post: The logic behind long term tenants
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Destiny Fargher:
My parents rented the same house for 20 years when I was growing up. There were two main reasons:
1. They couldn't afford to pay rent, raise 3 kids, AND save up money for a down payment. Any extra money went towards paying for school supplies, after school activities, and tent camping vacations. Their focus was completely on child-rearing and just surviving month to month.
2. They claimed bankruptcy when they were younger and assumed it would ruin their credit forever. They weren't financially savvy, and didn't realize that you can rebuild your credit over time.
Sorry to hear this.
Post: non-realtors disadvantage
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Marci Stein:
I think i would have to switch from being a social worker to become a realtor in order
to be a sucessful investor. Every time i search the MLS and find an interesting property,
it's already taken. I know R.e. agents get first pick, so how can the rest of us ever find
profitable investments? Very discouraging.
If you plan on getting most of the deals primarily through the MLS -- you might get somewhat frustrated.
Post: 70,000 Mail Pieces in 2014; What Did I Get For It?
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Jonathan C.:
Trying to clarify -- so you spent $67,000 in direct mail expenses, generated $106,000 in revenue and a net profit of $39,000? What was the total number of deals and average earning per deal? Do you feel you need to spend more to make more or perhaps revise, tweak and tighten the strategy/process?
Post: Probate Response Rate
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Brooks Conkle:
Dan, also interested in a different route.
...Erick, we just closed a wholesale deal from a probate lead and make over $6k.
I'm not gonna lie, I was starting to get frustrated as my costs for marketing was approaching $700. (you can find the story on my blog if you like -- one my recent posts)...
@Rick Harmon @Sharon Vornholt
Would you concur with this? Or do you guys have a slightly different experience?
Post: Targeted Direct Mail lists
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Stuart Birdsong:
@Account Closed:
I think there are several layers to that answer. Our typical response rate to a mailer is about .8% (very low). The caveat being that much of our mail has been from a brokerage standpoint. The upside to that is our conversion has been high, and therefore profitable marketing.
As we expand into more investor marketing, I would like to see our response rates in the 2% arena, or better. I imagine this will be the result of better targeted lists and more direct messaging.
Thoughts?
Thanks in advance
Stuart
.8% is certainly very low by what is the apparent average for most direct mailers. It has to do with the quality of the leads. How many of those who respond that you get deals out of is a combination of their motivation level and your particular approach to getting them to sell -- so that does vary with the investor. But when you say .8%, what quantity of mail are you sending per batch? 2% is frankly still low so the better the list the better the result -- ceteris parisbus.
Post: Direct mail to motivated sellers
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Marlon Seecharan:
BP friends,
...I understand that you have a tax lien on your property located at ...
Some sellers may get defensive when you start hitting them with talks of a tax lien on their property, may feel you may be trying to take advantage of them or just not want to talk at all. Don't complicate a deal with too much information.
Post: Direct Mail Tire Kickers
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Tom Scott:
... most of the calls that come in are folks that just want to know what I am up to. They throw out huge numbers for their properties and hope I'm dumb enough to take the bait...I think it's generally pretty easy to tell they aren't seriously motivated within a few minutes on the phone and then when they throw out that number that is 40% higher than market, or refuse to give you a number at all, it would seem a forgone conclusion that no deal is to be made with that particular individual and that I should just cut bait and run. Thoughts? ...
Only 40% more the actual value? The seller is just being a seller.
Post: Direct Mail Letters
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Julie Groth:
Has anyone done actual testing on their letters to find out what works, what doesn't? In terms of all of it, the type of letter, the envelope, etc. I know this is a valuable commodity if you have tested hundreds or thousands of letters.
I'll trade you (I"m a remodeling and green expert) or pay you.
I know, this proposal is a bit odd. :)
There happens to be tons on information on direct marketing research. The actual experience of investors on here may vary. If you have some specific questions feel free to send a private message.
Post: Direct Mail Campaign
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Scott Stevens:
...All kinds of things they could do that frustrate you, such as signing you up for magazine subscriptions using bill me later as the payment option, disney cruise dvds...
I could use a BusinessWeek subscription...do angry sellers really do that?