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Updated about 8 years ago on . Most recent reply
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My first postcard mailing
Hi BP community,
I am just getting my feet wet with Real Estate investing. So I went ahead and mailed my first postcard mailing last week in Los Angeles. I mailed 441 cards to absentee owners and so far I have received 6 calls. The calls are good but none of the sellers seem to be motivated. They are all asking for retail prices sometimes more. They want to see my offer before making an appointment to see the house. I am guessing this is normal because they want to see how motivated I am ? So do I throw in a high price then drop it after inspection? I am thinking this is the only way.
Second question... is this normal to have this many calls from unmotivated sellers? Am I targeting a bad area? Is it a bad lead list? I am also wondering if these people are getting swamped with mailers/calls and are calling everyone back?
I am not really trying to wholesale unless the opportunity is there. I am looking more for flips.
Most Popular Reply
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@Shawn Alajajyan
You'll get people that call in telling you to take them off the mailing. Asking how you got their info, ect.
You'll get people that want retail.
You need motivation (why they are selling?)
Get their WHY! (MOTIVATION + EQUITY = Potential Deal)
*My Phone Ringing*
Me: "Hello, Justin Speaking."
Potential Seller: "Hi, Justin, this is Betty, I received a post card from you and was wondering what this was all about?"
Me: "Well, Betty. I'm a homebuyer, my partner and I buy throughout the county. We pay cash. We don't buy listed properties. We do mailings throughout the year to older neighborhoods. Do you have a house for sale?"
Potential Seller: "Yes, I do."
Me: "Ok, what's the property address? City? State? Zip?" (*Potential Seller answering your questions and providing information.*)
THEN, BOOM! OUT OF NOWHERE!
Me: "So Betty, what's your reason for selling?" (SHUT UP AND LET THEM TALK!)
Potential Seller: "Well, I've had it for a rental for some time, my tenant moved out during the middle of the night and I just don't want to deal with being a landlord anymore."
Continue them over to your script to get house info and set the appointment.
I usually let my calls go to VM that way I don't have to directly deal with the negative callers. But it works the same way when you call them back. Get their why. Remind them of their why when you make your offer. "If you aren't embarrassed to make your offer, your offer is likely too high."
Don't waste your time on people that want retail or think emotional attachment drives the property value up. You could connect with a realtor and refer the retail callers to the realtor.
-Justin