All Forum Posts by: Kelly P.

Sorry - hit post before I was finished. I would like to know what your DEAL rates are for PC vs. YL.

Great thread but it seemed to deviate off of the original question.

Welcome Darin!!! There is a lot of great info on this site.

#1 definitely. Simple, easy to read.

I have been posting tons of CL ads daily for the past year and have only 1 deal to show for it. I get more responses from other wholesalers and people wanting to sell me their services.

Yellow letters were not effective for me - low response rate and zero deals. So far postcards and website have got me most of my deals.

I just lost out on a great deal because of an insurance claim - but it's a little different than your situation. I was financing the deal and after my inspector said the roof had hail damage the owner put in a claim with her carrier. Carrier said there was no damage but still gave her $2,200. She hired a public adjuster to fight the carrier and get a new roof.

4 days before closing, the company about to write my insurance policy said the open claim was preventing them from moving forward. The seller refused to postpone closing until after her claim was closed so I lost out on a great deal.

Long winded story to say you can look into a public adjuster.

Jon Klaus My net profit is $48,000 for the wholesale/flip deals; $150/month cash flow on the sub2 deal. I really don't put in that much time per week which is probably why my closed deals ratio is low.

What "legal" signs are you using? How is your yellow letter campaign going?

Sabrina Carapia Best of luck - if you don't give up, it will happen.

James R. my goal is to increase the number of rental units for cash flow. Congrats on having two properties already.

One year ago I began my venture down the real estate investing road. Being that I had a full-time job, my plan was to wholesale part-time and eventually incorporate the buy/hold strategy. My marketing has consisted of the following:

• Postcards (monthly)
• Probate (monthly)
• Craigslist (daily)
• Yellow letters
• Penny Pincher Ad

I wish I could say one particular marketing strategy worked best but in reality, the results were mixed. I have had 8 properties under contract with 5 actually closing:

• (3) Wholesale (Postcard, Website, Craigslist)
• Sub2 deal (Penny Pincher)
• Flip deal (Probate)

Of the three that got away, two were probate and one was via a Postcard.

After reading so much on BP about Yellow Letters, I did a two month campaign and received a 4% response rate the first month, 0% the second month. All responses were tire kickers looking to simply see what their houses were worth.

Though my responses have been from different marketing sources, the leads I received have expressed one constant – owners are getting inundated with the SAME type of marketing from RE investors: postcards and letters.

So as I begin my second year of investing, I am exploring other niches for marketing for motivated sellers and would welcome your insight as to new and effective strategies that have worked for the BP community.

Do you factor in a maintenance percenaget as an operating expense when calculating NOI?

I believe that too much emphasis is placed on "response" rate for YL campaigns. The only thing that matters is closing a deal from your marketing. Many BP'ers are excited to get 5-10% response rate but also point out that no deals came from those leads.

I'm sure there are many who have closed deals from YL campaigns but from my observation on BP, it appears generally that the majority of investors receiving responses from those campaigns are dealing with non-motivated leads. My response rate was less than 5%.

My advice is to try different types of marketing to see what responses net deals in your areas. Remember, real estate marketing is not a cookie-cutter program that spans all markets equally.