All Forum Posts by: Ushi Hastie

Cant stop, won't stop! Thanks :)

Hi Noel, 

I tested out pretty postcards, I guess I just had to know if they really didn't work as well.  The consensus is correct.  I'm about to hit them again with a more eye catching, call to action template.  I'll let you know how it goes.

I'm looking at a lead in a somewhat rural area 40 minutes outside of Seattle.  I have some comps to work with, but they are all on a 1 acre lot, whereas the subject property is on a 2.5 acre lot.  How do I compensate my opinion of value with the consideration that the subject property is sitting on more than twice the land of my comparable properties?  Any advice is greatly appreciated!

Hey Jose Guevara,

How did I miss this thread?  I had a hard time finding much info on BP regarding TD mailing several months ago when I started researching the idea. Since then I've scrubbed the TD list of a couple thousand in my area, to almost 600 that are 2 years or more & at the very least $5K behind in taxes.  

This will be my first real stab at direct mail. Postcards arriving next week, I plan to mail my list every 6 weeks.  I'm excited to see what my results will be & will let you know how it goes...

Thanks for your input Michael.  In the letters I tested I mentioned their delinquency in the most respectful manner I could think of, but I get the feeling the people that received it were really turned off by that approach.

I'm relieved to hear that my message on my postcard aligns with your suggestions. I think it will be much better received & I'm excited to see what happens. This is my first mailing on this scale. 

Btw, I really appreciate all the amazing contributions you've given on BP & the various podcast episodes you've participated in.  Thank you!

Hi Eyan, 

Funny you should ask,  I literally just sent my first campaign of postcards yesterday.  They should be delivered on the 15th - 20th. I'll be happy to report my results. 

Completing the research to put together my first tax delinquent list was a lot more work than I anticipated. I whittled the original list of a couple thousand folks in my county that are behind on taxes to 559 properties worth $800K or less (I'm in Seattle, $800K will buy you a shack in some areas) that are at least 2 years behind & owe at the very least $5K in taxes. 

I decided on that criteria because I discovered that a lot of people wait until mid or end of the year to pay their taxes & are considered delinquent, but if you look at their history they pay their taxes in full every year. Also, in my county they don't take the house back until the property owner hasn't paid for at least 3 years. 

I did test letters to a much smaller batch of TD owners that got a dismal response. It was tedious to do & I didn't use the criteria I mentioned above. So, I'm testing out postcards with a generic "my company buys homes" message that is basically a condensed version of my website. 

I'll report back in a few weeks.  

         ~ Ushi

That's what I'm leaning towards on all accounts. Thanks Brad!

Hello,

I am completely burned out on finding deals using bandit signs.  I would like to create a system that is more targeted and scalable & have decided to test out direct mail to tax delinquent properties.  Trying to decide on the message & whether or not to use postcards vs. letters.  Help, I feel analysis paralysis coming on!!!

Main questions:

1. Should I mention that I know they are tax delinquent in my message or should I not? 

2. Do you think a postcard or a letter is better to send to this particular list? (it's a smaller list hovering around 500 in my county which I will probably trim down using parameters such as how many bed baths and/or value range). 

3. If letter, should I use my company name etc or not include that info and just express interest in purchasing the property as an individual? (I'm not into the yellow letter, it will be typed and then hand addressed).

Looking forward to hearing your opinions, thank you!

Hello Everyone! 

Would it be safer to have an attorney draft the paperwork every time I put a property under contract (who is a better witness than your attorney?). Or should I have a basic purchase and sale agreement drafted by an attorney that I can use on my own, which complies with the laws in my state, with an out clause or two.  

Besides a standard inspection period I am curious if there are any other/new out clauses that you would recommend?  I recall someone mentioning to me awhile back that it is possible to make the contract contingent on me having a specific amount of time to acquire a financial partner (aka end buyer)?  Anyone using that?  I like to keep everything transparent.  My intention always is to complete my due diligence before putting anything under contract so that I won't have to make use of any "out" clauses, but I also want to protect myself.  Your advice is greatly appreciated!