All Forum Posts by: Jill DeWit

@Dennis M. You are correct. Sending a generic postcard is a waste of time and will get tossed and that is why we do NOT do that. 

We send a professional two page mailer which is very specific & personalized to each property owner. Page one is a brief introduction about who we are and how we got their information. Page two is a detailed, personal purchase agreement with a specific offer price.

Once they reach back out to us and let us know they are interested, then we meet with them, explain the process, address and help with any moving concerns, etc. We hold their hands through the whole process and provide all the "human emotion" support they need.

It's important to not waste time with individuals who have no intention of selling and certainly do not want to be talked into anything.

I'm getting ready to post and share a great example of a transaction we completed (SFR) using direct mail so everyone can see what is possible.

I grew up in Southern California and watched others make big bucks in real estate. (I got to ride in Don Koll's helicopter as a kid with my dad.)

My first full time job was for a small development company. I loved it & knew this was a way I could be my own boss. And the way we run our company, I can do this from anywhere - including the back of a boat. 

I hear you @Shannon McLeod. I understand starting out and being on a budget.

I can download a list of absentee owners, with no mortgage and 385 other property/owner characteristics, in minutes. Anywhere in the country. I use data from RealQuestPro (Corelogic) and DataTree (First American Title). The time I save is worth WAY more than the cost of the data. That is where I save to start. 

The next HUGE savings is not going door to door. I will mail thousands of letters and reach a lot more people than I could ever tackle on foot. I can spend $0.55 per mailer/offer to owner and not waste anyone's time. I only want to find out who is interested in selling, and if in my purchase range. 

I know it sounds "different", but this is the best, cheapest way to reach a seller. I have a number of associates doing this right alongside me the exact same way.

Best of luck!

Jill

Hi @Sinil Kim,

I definitely would not go the email path as there are some pretty strict and severe laws about that. 

However direct mail is alive and well and I assume you are not afraid of data. That is the key. There is SO MUCH out there now (data-wise) to show you where to send offers, who to send them to, and how to price them to get a good response. 

We've been doing it since the 90s and it keeps getting easier. We use direct assessor data and send offers directly to property owners (all types of properties from land to commercial to SFR), buy for cash, and resell quickly as wholesalers for more.

Use your technical talent and get quality data.

Hope that helps!

Jill

Hi there,

Is anyone still really "Driving For Dollars"? Sure, before computers and all the great data we now have at our fingertips, that was one way to do this. (Like 1979) But today, you can reach WAY more potential sellers in one day from your air conditioned office. 

That's what we do. We use existing data to help us make SUPER intelligent decisions about what areas would be best to pick up properties; then download, scrub & strategically price offers to purchase; and get them in the mail. 

Finally I sit back and wait for the phone to ring (interested sellers CALLING ME) and pick the best ones.

Typically there is a good reason why there is a boarded up house sitting in a nice neighborhood and nothing is happening. Meanwhile the sweet old couple next door, with no mortgage, would love to get a good offer for their property. 

We have been successfully doing this for years.

Hope that helps!

Jill

(oops - posted twice ha ha)

You can also call offers2owners and they can hook you up with DataTree ownership records (First American Title's data company). 

Glad to hear you are doing this with DATA and DIRECT MAIL. 

That's the best way to "get there first". 

-Jill

Two things will make your investments better and your life MUCH easier. (I professionally flip houses, commerical property, and land.)

1) Data. Get good data and let that do the work for you. Data can tell you EXACTLY the areas to buy AND how to price your offers. For starters, you can find a ton of FREE SFR data here: https://www.realtor.com/research/data/ For SFRs, we use the nationwide, residential "ZIP" data and extract what we need. 

2) Since you are out of state, you need "Boots On The Ground". We have teams (usually husband and wife/partners) that will meet with sellers, help with move, and facilitate the deal as needed.

No matter what you are doing. If you buy it right and have that immediate equity, you will do great.

Hope that helps, 

Jill

Join us tomorrow, March 7th, 2019, for our weekly Land Academy member webinar. We go in-depth with our members on current deals that they are working on and answering all member questions.

Good new's for you is that we offer non- members one free call to everyone that is interested in joining our community.

Please email support@landacademy to register for the webinar!

Hello, @Brian Hendrie. Thank you very much for reaching out to the BiggerPockets community. It’s a good start towards successful deals. Congratulations and best of luck on your future endeavors.