All Forum Posts by: Samantha M.

Just want to verify I have a good grasp of this subject. You always adjust the value of the comp, never the subject property.

If the comp is superior to the subject property, subtract

If the comp is inferior to the subject property, add

For example: A subject property that is worth 150k is being compared to a comp that has a pool. The subject property does not have a pool, therefore the comp is superior. The comp sold for 155k. Pools in the area add about 5k in value to the house. Since the comp is superior 155-5k = 150k. That is your adjusted value for that comp.

Is that correct?

I drove across this property today. It was clearly distressed and vacant. However when I looked up the property in the tax roles I notice the deed date was from 2005, which may be a problem. This is an absentee- owner. My thought is since its an absentee owner, and it may had been an investor, even though the deed date is more recent they could have settled the transaction in cash if they were an investor.

Typically when looking for wholesale type properties I try to get at least 15 years + on the deed date (That would be 1997 minimum). Could there be possible deal in this property? Should I bother mailing them even if the deed date is from 2005?

Thanks

Jon Klaus Why do you prefer yellow letters over post cards? Have you noticed a noticeable increase in response rate for yellow letters vs post cards?

The reason I would assume response rate would be similar between the two is your supposed to be marketing to MOTIVATED sellers in the first place. If they are motivated they shouldn't care if the marketing piece is hand written or fancy, as they already have a reason to call you.

Just wanted to clarify, seller contributions is when the seller contributes 2-5% to the buyer to help cover closing costs, should the buyer need it.

Is that correct?

Nice work! Grats!

Question for Jon Klaus and Jerry Puckett. When you are on the phone with someone that does not seem motivated enough to sell their house at a discount. How do you go about politely ending the conversation?

Jerry Puckett Thanks for another great post Jerry. If you wouldnt mind would you share the buyers subdomain on your site so I could see an example of how you like to go about doing it?

Whats the alternative? I dont see why that should offend anyone, its very convenient for the person who owns the domain as well. An investor can visit the site, take 30 seconds, click a few drop down boxes for financing, zip codes they want etc and I will be mailed what they are looking for.

Thats a great question, looking forward to reading the responses.

Jerry Puckett Yes I did budget to consistently mail the same amount each month. I am keeping track of my response rate with good old fashioned pen and paper. I definitely know who to call if things are looking bad!

From the sounds of the post, you if I am targeting good leads, I should be able to source a deal once a month? I really didnt expect things to move along THAT quickly. I figured I would have to mail the same individual a few times before I was able to get something under contract.

Jerry Puckett How many mailers per month would you recommend for someone starting out that would be "adequate" ?

I just sent out my first marketing campaign earlier last week. About 1200 letters.