Offer price in the letter

[Devan Mcclish]

I saw a wholesaler on the site use a letter like such: "hi my name is XXX. I want to buy your property at 123 Main Street for $XXXXX$" She put an offer price in the initial offer. And the offer price was 45% of the ARV based on comps she found. She looked up every one of the properties beforehand. What does everyone else think about this strategy? One of the biggest objections I get from sellers is this Seller: "yeah you sent me this letter about my property at 123 Main Street" Me: "yes thank you for responding blah blah" Seller: "so what is your offer" That seems to happen more times than not. Question 1: is the offer price in the letter a good strategy Question 2: if not, how do you overcome that objection from the seller

[Ana G.]

Doug W. If wholesalers went to see every house that a seller calls about, we'd all be out of business from sheer exhaustion. The offers are low enough so that there is a cushion in case the property actually needs a gut rehab. Also, my market is very competitive. A property with or without rehab at 80% ARV (not minus repairs or fee) goes FAST. I've had two sellers accept the blind offer price. And I've kept the blind offer price exactly the same because the offers are low to begin with. Why lower an already very low price? Why bait and switch? Most times I'm actually INCREASING my price over the phone because the seller thinks it's too low (which it is).