How Many Yellow Letters do You Get?

[Daniel Urso]

Hi everybody, I had a few questions for all landlords who received lead letters from other investors (yellow letters). How many investors contact you per month? Are you a local or out-of-state investor? Do you invest in a city or rural area? Thank you in advance for your answers, I'm interested in putting together a campaign and trying to figure out how much potential competition there is.

[Marcia Maynard]

We have 17 rental units at a total of 8 locations. We receive several "yellow letters" per month from various investors. Some are well presented and some are really tacky. I'm collecting them in a box with the thought that if I decide to do the same sometime, I'll glean some good ideas from the best and know also what to avoid.

Recently a local realtor (young guy new to the industry) mailed his information to some of our tenants along with a letter of untruths that put a negative light on landlords and renting. He told them they are "throwing their money away" by renting instead of buying. It was a letter to persuade them to buy their own home and he offered to find the perfect home for them. Some of our tenants are on fixed income and wouldn't be able to take care of their own home because of disability and/or aging. People rent for many good reasons and there are many good landlords providing a worthy service to those who choose to rent. The young buck's letter was a cheap shot aimed at gaining business for his own interest. I wouldn't mind an honest offer to help those who wanted to buy their own home. But his negative approach to renting and villainizing of landlords was crossing the line. I took a copy of the letter and plan to address this with him, as well as talk with some of the respectable realtors in town about it.