Yellow Letters

[Edwin Fisher]

I'm in the process of starting my first direct mail campaign for absentee owners in Chattanooga. I have made lists for each zip code in my area so I can do them zip_code-by-zip_code. I if I Let them go to a Google voice number? When you call back a yellow letter lead, do you have phone script? What info do I need to get on the first call? How often should I follow up? I have more questions but those are the biggest.

Any other advice on getting started would me great as well. Eddie

[Dev Horn]

CLICK HERE to see the "Rule of 7" video @Brian Gibbons mentioned...

And here's a great checklist I got from someone here in BP a long time ago - might have been @Michael Quarles ...

MOTIVATED SELLER – QUESTIONNAIRE CHECKLIST

The following is a list of sample questions you should ask a seller. When talking to a seller, try to ask the questions through the course of a conversation and try not to sound like you are reading from a list.

(Note: You will not ask all of these questions depending on the answers the seller gives and your investing objectives.)

Asking About The Seller And Their Property:

• Can you tell me a little bit about your home? (# of bedrooms, baths, size etc.)
• What do you like most about the home?
• What do you like the least?
• Are there any repairs needed?
• What is your sales price and how did you arrive at it?
• What do you think your house would appraise for in excellent condition?
• What do you think your property could rent for?
• Is your property listed with a real estate agent?
• If you don’t mind me asking, why are you selling?

Asking About The Existing Financing:

• Do you own the house free and clear?
• Do you know if your mortgage loan assumable?
• Would you sell the house for what you owe?
• If not, how much are you looking to get above what you owe?

(Subtract that from sales price to get loan balance.)

• How much are the monthly payments on the mortgage?
• Are the payments current?

What Kind Of Deal Can You Get:

• If I paid you all cash and closed quickly, what is the least you could take?

(Follow-up by asking if that is truly the least they would take.)

• Will you consider leasing the property to me with an option to buy if I guarantee the mortgage payments and maintenance?
• Do you have a problem with someone living in the property until I get it sold?
• Would you consider optioning the property to me, if there is absolutely no risk or cost to you?