Need Help with Out of State Owner Mailing!

[Steve Dussault]

I recently sent a letter to the out of state owners in my county. It's been about 4 weeks and so far I have 32 responses out of 544 letters sent. The letters were hand addressed/stamped and this is a 5.9% response rate - so far so good.

Unfortunately, almost all of the owners have properties in move-in condition and they want 105% of fair market value for their properties. Some of them sound fairly motivated, but not nearly enough to take an investor offer. I had two people with no mortgages and houses that needed repairs, but even these people wanted way more than what it would take to make it a deal for me.

Any other people doing out of state owner mailings that can share experiences and what I might be doing wrong?

Thanks,
Steve