Got a response to Direct Mail..Now what?

[Hal Cranmer]

I sent out 100 yellow letters and apparently they hit today because I got two calls from free and clear homeowners. Both seem like they are retirees

One said that her home is 'ugly', she owes $20K on an insurance loan, and would like downpayment for another house. The tax value shows $130K and I am working on comps.

The other said that her house is in great shape, and that she and her husband just want to sell it. I'm not sure how motivated they are. The tax value is about $190K.

I have appointments to see them both this weekend and this is the first time I have done something like this.

I was wondering about suggestions on how to approach these people? For the first I am thinking about a low offer/wholesale/flip kind of offer, and maybe the second would be interested in some kind of owner financing. Anyone got ideas? Thanks for the help. I'm going to be nervous.

[Chris Clothier]

Hal -

I love the post. That is awesome. FYI - I took a mentor the first time I met with a homeowner I was so nervous. That was 10 years ago in Colorado. I can tell you this much without knowing anything about the situation. What has always made me successful is that I have never lied or pretended to be someone I was not. Meet with the owners and have your facts together on the value of the properties and the activity in the area.

They know you are an investor from you letter, but let them know very early on that you do not pay retail and you are in the business of purchasing property at substantial discount. Let them know that you in no way want to offend them, but you would like to make a fair offer for them and a fair offer for you.

From that point, it is all about the condition of the property and the research you put into the properties on the front end. I always made offers when I visited the owners, but I had to eventually give that up. I spent way too much time talking to owners about their personal stories and learning about their cats. It made them like me, but i spent a lot of time!

So do your homework, be honest and be prepared.

I am sure you will do great.

Chris