All Forum Posts by: Jay Hinrichs

Just called and of course went right to VM

@Jon Klaus 

  In South Carolina.. and its listed and sale pending !!!  as well. I bought it and did a full reno on it and selling it retail to homeowners.  But I am absentee since I live in Oregon.. Can't get much more absentee than me.. Well I guess if you live in Hawaii or out of country

@Ned Carey 

  I am going to fire up the Traeger and take my little yellow letter out back and make the call see if they answer.

@Ned Carey 

  One of my major pet peeves in todays real estate industry .. Not answer the phone that's just totally stupid in my mind if your spending money on this stuff.  Folks call once then go to the next letter they got in the mail... RE agents are the worse... And I R one and my wife is one.. she was a little like that and I kept harping on it and now she is better and its helped her close more of her transactions for sure.

Nothing worse than doing all of this then finally getting back to someone only to tell them they listed with another agent bought a house from someone else.. Or sold their house yesterday.

@Rob Scarborough 

  Just like you have the 2% rule for figuring cash flow you have the 1% rule in direct mail marketing... depending of course of the area of the country.

So 500 letters to answer your question directly.. If you got 5 calls and close half a deal that would be normal.. 1000 letters should get you one solid closing. So for 85 calls that's probably 5000 or more letters. I just posted on this I just got my first Yellow letter.. I may have gotten more but I just threw them away.. this one I opened and read.. Its a pretty slick piece and should work well... my only feedback would be to not have a mail service mail them from out of state.. Like the one I received.. If your going to pay for this and put a local phone number.. Have them send you the letters and mail them from a local post office so you keep continuity in your attempt to make your mass market piece look personal

I got my first yellow letter in the mail today on one of my properties on the East Coast.

I get all sorts of postcards and such from all over the place but this was the first of what I think is the "YELLOW LETTER".. It came in a small white letter one you would send a small greeting card in.. Then the letter its self was written on a small yellow lined note pad.

And its well done the message was a little stereo type ( but I have been around this 35 years so all the pitch's look the same to me) Had the buyers personal name not a corp or LLC.. explained they need to buy FAST , going to pay CASH, and 30 day close all the buzz words. Then the address of my property generic hey the property looks pretty good would you sell it to me .. then a call to action with the phone number ( not an 800 number)

 I am going to call and see how good this person is on the phone.

One major point though is its post marked in Texas and the phone number is local to the property so it appears to be a local person sending the letter ect. . I think that's a mistake and a little cink in the hey this is a personal letter armour.

Nice mass market piece. and I could certainly see how older folks or those that are not in the know could be taken with this and think its truly a hand written note.

Ah  so your borrowing very small amounts vis a vi the final product.

If I hear you right if you buy a rehabber for 300k  and it takes 100k to rehab it.. You simply borrow the 100k in first position. and you put 300k into the deal... If that is what your saying then yes you would in deed be inundated with Socal investors.. why would anyone want to buy a rental property for cash when they could get the security your offering and probably a better return

@Account Closed  going to throw in a plug for Bend... its totally under the radar there is a new 4 year state college being built bringing in 5k new jobs to a town of 60k... chances for appreciation is far greater in my mind than any of the so called cash flow markets out east. The reason is Oregon has super tight land use laws.. Unlike Texas and other areas were new construction competes with old stock and keeps values basically in check. Plus   ease of management.. No condenser units being stolen or needing to be caged ( think Memphis) A nice little 4 plex in Bend could be a very good play right now IF you can find one.  

If you decide to go out East and Invest do not get sucked into buying low end rentals.. And don't get sucked into buying from So called agents or experts on the west coast that just front for flippers out east ... Start with very good property managers in the markets your interested in.. ( many times they will even have clients that want to sell and you can truly go direct)  and ask them for some advice on areas.. then talk to appraisers etc.. Be very mindful of those trying to sell you properties that do not live in the market

Hire a good realtor that specializes in new construction and represents builders for a living.  The we buy houses signs very seldom buy lots or land and they are only looking for the home runs.. Have just a tad of patience it will be worth thousands to your bottom line.

Inundated ?  in the land of buy and hold... ?