Posted by Derek(NC) on July 14, 2002 at 13:55:50:
You are on the right track! A 1% to 2% response is what marketing experts so is great. I wouldn’t quit what you are doing, the more letters the better the percetage. Just keep a record of the ones that did not respond, if the house is still abandoned in a couple months, then send another letter.
Best of luck to you, Derek(NC)
Ready to purchase fixer uppers…no bites. - Posted by Donny Dell
Posted by Donny Dell on July 14, 2002 at 11:13:49:
Hello, I live in a large metropolitan area. I have attended numerous RE courses, I have funds, the credit etc, to make an immediate purchase. The problem is it seems most RE courses dont tell you how hard it is to actually find a motivated seller to get the best most profitable deal. I have been sending out letters to owners of vacant and abandoned fixer uppers and rehab properties. I get few if any responses back. I tell them I can pay cash and close within ten days. But still no bites. So far I have sent out about 50 letters. Am I on the right track or just spinning my wheels?
Re: Ready to purchase fixer uppers…no bites. - Posted by SCook85
Posted by SCook85 on July 15, 2002 at 22:19:32:
Donny,
While your methods are not one that I use they will work. However after years and years of analyzing direct marketing, which is what you are doing, repetition is the key. You aren’t going to get much of a response from 50 postcards. But 500 postcards sent to the same people every month will begin to generate results. Think about when you get mail from someone you don’t know. If you are in the midst of doing other things you just chuck it.
If it were as simple as sending out 50 postcards and getting a few deals from that then eveyrone would be doing it. Those who perservere are the ones who make it over the hump.
Happy Investing,
Steve