All Forum Posts by: Account Closed
Account Closed has started 1 posts and replied 380 times.
Post: No Response from my first direct mail campaign
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Luther M.:
Hey there BP family,
Newbie investor here. My first direct mail campaign of 1,000 PCs went out via yellowletters.com on May 2nd to absentee owners and to my dismay I haven't gotten a single phone call.
Has anyone else ever experienced this? Open to any advice or suggestions.
Thank you!
That is troubling.
Post: No response from direct mailers?
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Daniel Allen:
How many of these letters did you mail out?
Originally posted by @Jeff Croft:
For the guys that have tested and measured how many times are you mailing a niche list? Statistics say that 80% of response is on the 6th to 12th contact. I'm on a limited budget and want to make sure I'm mailing the right list the right amount of times.
The 12th contact? Would you happen to have any details on the source of the information?
Post: Measuring direct mail response rate & effectiveness: Any horror stories?
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Based on some of the threads on here, it seems like quite a few of those who have tried some sort of direct mailing feel like they either shot an 'air ball' or totally missed something.
I would like to know what sort of response rate most of you are getting and the nature and source of the list.
It seems the absentee owner list tend to have the worst response rate or has that been your experience?
How many deals are you getting per mailings and how many calls are you getting from the same effort?
If you are able to quantify any experience you have had with a direct mailing effort that would be great!
Post: Foreclosure Direct Mail Response
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Kathy Armstrong:
We mailed out approx. 350 postcards this month and only got 1 call. Last month we mailed 200 of the same postcard and got 6 calls and bought 1 house. We could have bought more but ran out of time. I am perplexed as to why we had such a poor response this month. One thing, we mailed them earlier and I wonder if people wait until the last minute to call. Or could it have anything to do with the time of year? Anyone else experience this?
I think I have read on here of someone mailing 3000+ letters and getting 1 or 2 deals from that; so comparatively, getting a deal from 200 seems way better although still somewhat troublesome a deal conversion rate.
Post: Help! Rehab costs
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Tony Santos:
Hey BP,
My biggest weakness in my real estate investing so far is estimating rehab costs!! It drives me nuts. Does anyone have a particular sheet they use to help them out? I understand and I'm pretty good at finding what needs to be fixed but pricing it out kills me. I am also a home inspector for an energy conservation program so like I said finding the problems are no issues. Please if you have any resources or sheets you would like to share I would be very thankful for it.
Ps yes I've read the book on flipping houses by j. Scott :)
Sorry to hear... if you have a list of everything that need to be repaired in a particular building, there isn't much else to make things complicated. The more accurate the numbers you get for materials and labor the better.
Post: What time of the year is the best time to list a house?
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Gavin Huffman:
I want to fix up and sell a rental house of mine that has month to month tenants. When is the best time of the year to list a house?
Most of the listing service websites often may track data pertaining to buying and selling patterns and from that suggest when they feel is best to sell or buy. Don't be surprised if you find that different sources may suggest different months based on whatever data they are utilizing.
Post: Highest Return & quickest flip
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Renee Dumont:
What Type of property s best fix and flip?
Multi Units or single family
Also, is it harder to sell multi units?
There is a market for both... really depends on the local market and the property in question. There are investors that either specialize in a particular niche or deal in both.
Post: Need advice
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Patricia B.:
...I'm Just looking to pick up more work for people that need a rehab done to there Home. I enjoy getting my hands dirty...
It sounds like networking with GCs may be the best route.
Post: My Flip is NOT Selling! - Help!
- Professional
- Jacksonville, FL
- Posts 397
- Votes 34
Originally posted by @Ind Kon:
What is the 'average days on market' for similar properties in the same zip code or area? A realtor or someone with local access to the MLS should be able to give you this information.
For the county where you are located (if the property is there), it seems to be in the 40+ day range based on what data source you utilize. So if you have just listed the property for 2 weeks, that technically shouldn't be cause for panic based on what the market average is.
The problem seems to be the delays with the rehab which you say took some 6+ months. Contractors can often be a thorn if not managed properly and kept focused on the project.
You may be preyed on if you get too desparate but with a 'hard money' loan accruing interest, the panic is understood. Some sort of numbers though may help assess your condition.