Is it wise?

[Maher Bateh]

I am starting out bidding at the county steps but can't seem to win one. Everyone tells me to not bid above 70% of market value. Is the correct? or do i bump it up to 75/80 %?

Thanks, Matt

[Seth Williams]

Maher Bateh - I'd say HANDS DOWN, direct mail. But not just any direct mail campaign - you have to be reaching out to the right people.

There are many different ways to organize a direct mail campaign (mailing to out-of-state owners, narrowing down to certain price ranges and neighborhoods, probate lists, etc.). Personally, I've found that mailing to delinquent property tax owners brings in some pretty spectacular results, and the property owners tend to be VERY motivated to sell (you can send them some pretty ridiculous offers and they will seriously consider taking it).

Getting properties for 10% - 30% of market value is *absolutely* in the realm of possibility, and you can virtually eliminate your competition. I never have to fight with other investors to get the best deals, and this has made this approach my favorite BY FAR.