Posted by Jamie on November 07, 2005 at 14:44:32:
Thanks for the input. I will put into practice what you have suggested. I am new, so I will attend my local REI association group meeting and hopefully can find a mentor to work with. Thanks again, have a good one.
Sample letter - Posted by Jamie Stewart
Posted by Jamie Stewart on November 06, 2005 at 21:49:21:
Hello everyone, I am starting out in the world of RE investing. I would love to find properties for 50, 60, or even 70 cents on the dollar as would any of you. I have decided to mass mail to target neighborhoods with high ratio of original owners. These owners are up in their years. I would like to send out a letter, expressing my interest in buying their homes. Does any one have a sample letter that I can look over? Or what could I say? I’m at a loss of the right words. I would like to help these people with their retirement or their downsizing of their living space that they have to take care of day to day. Please help. Thanks.
Re: Sample letter - Posted by Gizmo
Posted by Gizmo on November 06, 2005 at 22:36:46:
Hi Jamie and welcome to the world of RE investing.
I hope you have a large budget for mailings, because your shotgun approach will probably yield little if any results until you’ve sent TONS of letters (regardless of what they say).
Why don’t you try to narrow down your target market to folks who own their homes free and clear but are deliquent on their taxes.
You should be able to get this information from a Title Company. If you don’t have a relationship set up with a Title Company - develop a relationship with a Realtor (who you can send business to - as a thank you) and they can get the ‘farm’ information for you.
Postcards are cheaper than letters and more likely to get read. Whatever you do - track your results. You may want to send several different postcards to the same group.
Since, most people who would be willing to sell their home for 50-70% on the dollar are probably motivated for a QUICK sale, I’d use your ability to Buy Quickly as one of the key benefits you offer.
Before you start marketing for leads, however, make sure you know how to close on the deals. You may want to hook up with an experienced investor to refer the deals to for a finders fee until you get the system down.
Good luck!