All Forum Posts by: Ana G.

Also I hate those "ok so what's your offer" because it's like all those people already knew they wanted well above retail and they just waste your time making you hang up and call back and leave a message and hear them talk about how crappy your offer is. Like David W. said it's almost like a shortcut.

So far the only downside is that you're going to get a lot more "wtf is this offer?! I wipe my a** with this offer!" but the upside is that for the people who ARE interested, the negotiating is already done (most times you'll have at least ONE interested seller). Also, in my opinion it's totally fine to use a voicemail for these leads because most everyone will leave a message. It's either an angry message or an intrigued message. It's almost like a push to start car. The works already been done for you. All you have to do is get the contract signed asap and you're well on your way to a check.

Devan Mcclish Sorry if I hijacked your post! It just seems that so many people are against blind offers but it's worked so well for me I just can't keep quiet about it right now.

David W. So far I've put offers in two separate mailings and got one deal off the first and two deals off the second. Both times I sent it to a list of 1,000 names. I've gotten WAY more leads off the non offer letters but there's a lot of sifting and calling back and negotiating to get the same number of deals from just putting an offer in the letters. I'll continue to do some offer letters and more non offer letters since it's worked well for me so far.

Yasmine Bisumber I think I've spent about 6,500 so far and made $22,050 plus the two properties I'll have under contract tomorrow which I estimate to be about another $20k profit for both.

William Manzie I just use a contract I personally made and then another one to assign it and then another contract if I'm double closing with a cash buyer. Just pick a contract you like and add all the necessary contingencies. Good luck!

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).

Devan Mcclish I think you're talking about me ::blush:: yay I'm BP famous now! Jk lol. That's why I usually put a lower offer in the mailing. And I use the current estimated value that listsource offers when you purchase a new list. It's like .02 cents extra for each name so you're not going through each and every lead to get a current ARV. I've found that the estimated value is usually not that far off from the true ARV so if they accept 45% it's the same as if they called you for an offer and you tell them a price over the phone. Most times, you'll notice that these properties are really not in the worst condition. These sellers live in their properties so usually they're not living in filth. And if it's a VERY bad condition property it's as easy as "Wow this property is worse than I thought. Look Mr Seller I'm confident I can buy your house and still make a little bit of money but the price is going to have to be $X. That (insert biggest rehab issue) right there is not something we see normally in houses like this." Most times these sellers are tired of losing money with these properties. They will accept your price. And if they don't accept it immediately, they WILL call you back. Like I said, they are tired of losing money. Also, by offering 45% you have a built in cushion for rehab. And if the property happens to need no rehab, that's more profit for you.

Alright so now for a new update!

I sent out 5,000 zip mailers without offers in it and got so many responses I thought I was gonna go crazy! Haven't counted yet but it's about 200 something range of call backs.

Of all those call backs I got, if I remember correctly, about 8 "deals" out of it and quite a few warm leads. A few of them were ready to sell and accepted my low offer but they were inherited properties and the new owners were still grieving and gave me a date of when we can start the buying process ( most of them a month or two later and some of them needed like 5 months).

Also, I had three AMAZING deals where the seller accepted I think like 40% of ARV but the deals never went past that. Two of the sellers wanted references and after I sent them references they were still unsure because they thought it was too good to be true!

And the last one, she was upset about the $100 contract deposit after she received the contract to sign and said she wanted 5k to 10k so I sent a new contract back with a 5k deposit cos I KNOW i could sell it within a couple of hours of having it under contract but she stopped answering my calls after that second contract went out. I literally phone stalked this woman. Probably called her like 6 times a day for a whole week! The problem was I think I may have sounded a little desperate over the phone with her but that one deal would've made me 60k! Heck yea I want it! Oh well.

So basically that mailing would've netted me some serious money. In the almost 200k range! But my sellers were in disbelief that I would actually purchase their property. Since then I've been working on my phone and selling skills and have been taking note of what I was doing wrong. Soon after, I had gotten a call from some loan guy when I was applying for some capital money to ramp up my business but he sounded soooo desperate over the phone and I was like "ew! Is that what I sound like to my sellers?!". I blew him off because of it and that taught me a real lesson. DONT SOUND SO EXCITED AND DESPERATE THAT THE SELLER ACCEPTS YOUR LOW OFFER! It makes the sellers think it's a scam or that something is off.

That same month I sent out another mailing (postcards) with offers in it this time to a VERY targeted list and I got so far out of the like 10 calls to 1,000 names I got one seller. She accepted my offer that was in the postcard because it was an inherited property but it turns out she has two properties to sell! This one is going to be a little tricky because she has a tenant in one of the properties that she needs to evict and both properties are in a D or F neighborhood. I'm definitely lucky to get her though. My goal is to make $10k for each property. We're finally signing contracts tomorrow. Wish me luck! I'll come back with updates in a month or two.

Good luck everyone and thanks for all your support and awesome comments! I hope I can help another newbie out these to realize that this business is EASY and you can make some serious money despite it being tedious and overwhelming at times.

Originally posted by @Han Oh:

@Ana G. How's PatLive working for you? I have a full time job so I doubt I will be able to handle all the calls myself (I'm about to send my first mailing to about 1000 leads). Also, is the 2-3 minute voicemail effective? I guess if a seller is super motivated, he/she would listen to the whole message, but do you feel you are losing some potential leads because you do not take their calls live as some may be on the 'motivation borderline' and just bail at the long voicemail and move on to the next investor in their PC stash?

 I recently sent a new campaign using a professionally recorded message and of all the calls I received (don't know exactly how many calls yet) all but one left a message.

Even though they all left messages, I think I might still just go back to a live answer VA or Patlive because sometimes people call to talk about how crappy your offer is and then they give you a counter offer. But I haven't been calling back the pissed off people because they don't sound open to a low offer.

And honestly I've noticed that no a lot of these people are not getting inundated with PC's from investors. When I first started out I thought there were millions of people sending mail peices but seriously from my response rates, apparently they're all talkers or they probably quit when their first mailing didn't yield a deal. There's clearly not as much competition as we think in this industry.