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In today’s podcast we will continue our 5 daily questions and discuss handling foreclosures and pre-foreclosures.
As we continue our 5 Daily Questions Series, you will hear more valuable questions from other Real Estate Investors and some of my own students.
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Show NotesIn This Show, We Cover:* > I had been in negotiation with a prospect for a few days. We settled on a price. It was going to be a cash deal (I couldn’t sell the sub to) He wanted 48 hours to look over the contract. This afternoon was the deadline. I called him to check in and he “thanked me for getting him to finally release the house he’d been holding onto for 40 years Then he told me he’d contacted a realtor. I have no doubt if I had gotten him to sign the contract right away we’d have a deal. Part of me feels bad I didn’t enforce that aspect of the presentation. The other part of me feels giving people the time they need to make a decision that’s right for them is important. How do I reconcile these two parts?
I am using the services of Yellowletters.com for sending out my direct mail. For the first round I was advised to use Text Postcard Large which did not get such a good response rate. For my next round I wanted to get a little more call volume so I used a Yellow Letter. I sent to the same list and got a call rate of 4.545%. Much better and I had a lot of good practice talking with and listening to sellers. So my question is: what should I be sending out for my 3rd round of mail? Is there a specific sequence of marketing materials that work better? Should my marketing materials be building on one another?
Is it important to have recorded voice mail that sellers hear to be my voice?
I’ve been researching foreclosures and pre-foreclosures on one of the many real estate sights. I have found several of both in my zip code. My question is, can I go to the owner before the house goes to auction even though they have been given a foreclosure notice? Also, I have noticed houses on sites for up to 2000 or more days after being on foreclosure and people living in the house.
I’m ready to send letters. My plan was a yellow letter to absentee owners, but when I run the list in my market with my criteria, I get only 300 properties. I know statistics. So with 300 properties to mail to, I should only expect 15 calls and no deals. Then i was planning on mailing this list 3 times, once per month for 3 months. Should I stick with just this small list for now, given my lack of experience?
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Yellow Letters – www.YellowLetters.com