Quote from @Wilson Hernandez:
Quote from @Patricia Taveras:
@Alicia Marks
I closed on two houses I bought from the same seller in July of this year. I found them by "driving for dollars" and sending the seller a letter asking if he would be interested in selling. It turns out he was a landlord in his 70's looking to sell off properties. Both needed work. So I bought them for under market value. One is almost ready for Airbnb now, and rehab is just getting started on the other.
Would you mind sharing what your letter says? I am also looking into doing "driving for dollars". I found a couple of vacant properties that I would like to reach out to
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Hi Wilson,
I usually send something pretty generic - I have experimented with several different messages based on ideas from the forums, but I don't send them with enough consistency for them to work for me. I had sent a more personalized letter to a batch of houses in this particular neighborhood. The letter that got me these 2 houses read:
Dear (owner name),
What are your plans for your property at (address)? I am also a local investor, and I would love to buy another house in the area. Also, I would actually like to move into the (local high school) School district. If you ever wish to sell this house, please give me a call. If you do not wish to sell at this time, feel free to store my number in case you should ever change your mind, or you can call me if I could be of help to you in any way.
Sincerely,
Patricia Taveras
It is true that I would have liked to move into the school district. Once I viewed the 2 houses this gentleman was selling, I knew they would be a little too small for the needs of my family. But I told him I wanted to buy both of them anyway and use them for rentals.
I have had he opportunity to send a small handful of personalized letters, and they have gotten a better response percentage-wise than the more generic ones. The only other house I bought from direct mail was also from a personalized letter. That house was a vacant house in my neighborhood, so I opened that letter with "I am your neighbor on (street name), and I noticed your home at (address) looks vacant. I would love to buy another house in that neighborhood..."
Not sure if that will help you. Good luck!