LPA Mailing

[<Steve> 82]

Hey Rich-

 

I received a call last week from doing this LPA mailing challenge last June. This was a $389K house sitting on 20 acres. It is a much higher priced house than the average priced home of $100K to $200K around here, but I figured what the heck, and mailed the LPA anyway. It was followed up with a few e-mails in July and that was it. I didn’t continue contacting the home owner because the pool of tenant/buyers in my area for a house at that price range is small.

 

Then the homeowner called last week to my surprise. I was caught off guard when the seller ask, why I considered his house to be just what I was looking for (I must have mentioned that in an e-mail or letter, of course I always mention that). Well…I…um…I mean…you see… After hoe humming then speaking with the home owner for about an hour, he was really wanting to sell his land at $25K per acrea and he barely spoke of his house unless asked. Well, for me land as an investment is like oil and water. No thanks not my mix. However, the seller already has a possible tenant/buyer interested from up north and I suggested that this t/b could L/O his house until the t/b sells their home up in Connecticut. Hmmmmm. Will see if this t/b from up north is for real.

 

Mostly, It has been amazing to me how last spring’s marketing has generated this fall’s profits. Marketing is really the key. If you sit back and wait for something to happen it won’t. You have to get out there and ask folks if they would be willing to Lease Option their home and follow up with them. Sending letters, making calls and e-mails is essential to generating deals. And the marketing put in today can and will bring in $$$ months down the road.

 

<S>

[Craig 0]

MC:

 

I have been doing warm calling and emails. For the emails I have been using your suggested emails 1 and 2 (I found in the Marketing Forum.)

 

"Hi. I saw your property listed on www.owners.com and was wondering if you'd be interested in selling it on a lease purchase?"

 

Craig

 

With the second reply I send them your email #2

 

"Hi XXXXX,

 

Thank you for the quick reply. Your house sounds like it may be just what we are looking for. Please let me explain.

 

My company, Warner Properties, specializes in Lease Purchasing. This technique has proven to be quite advantageous for homeowners. Done correctly, you can receive an above market price for your home in less time than it would take you to sell it traditionally.

 

We are not Realtors and charge no commissions of any kind. In fact, our service to you is free! We'll even arrange to have the tenant/buyers pay all closing costs, too! The bottom line is that you will net many thousands of dollars more when you sell your property using the Lease Purchase Advantage.

Presently, and as is often the case, we have more tenant/buyers than we do properties to offer them. Your property seems to fit our needs quite well. I have attached a flyer with some additional information to further explain about the Lease Purchase Advantage. Please feel free to contact me with your questions. Or please pass along your contact information to me, along with a good time to call and I will contact you.

 

Thank you for your interest.

 

 

Craig Warner

 

I attach my LPA letter, and await to hear from them. And this can be done over and over again. All at no cost, and with little expenditure of time. The homeowners who don't respond have already expressed their disinterest, so no time is wasted, and no adversarial phone conversations have taken place. The homeowners who do reply, well, then we speak on the phone and see where it all leads to. My usual next step after speaking with them is to get an offer in their hands after doing my CMA.

Rinse, and repeat.....

 

 

What I am finding is people are responding at a very high rate almost half reply saying they have sold it, it just went under contract , or they reply by asking me to confirm what they think the LP and they might be interested. At least .15 might have a interest in doing a LP.

 

I will be tracking the results and numbers.

 

Also, another remarkable thing is I have been emailing all New Yorkers. Maybe they have a little heart left...

 

Craig

[MichaelC 160]

What I am finding is people are responding at a very high rate almost half reply saying they have sold it, it just went under contract

Good. They're saving you time.

or they reply by asking me to confirm what they think the LP and they might be interested. At least .15 might have a interest in doing a LP.

Even better, Craig. These are the ones you need to follow up with and determine if they are serious, or curious. And don't waste time in doing so. You'll find the more time that passes from a homeowner expressing interest, until the time you wrap up the deal, the more likelihood something will come along to derail the deal.

Also, another remarkable thing is I have been emailing all New Yorkers. Maybe they have a little heart left...

Nah, we're just in shock after watching the Yankees lose to the Red Sox.

[Sold ! 0]

Just watch the impending shock on the faces of Cardinal fans !

 

I have the best of both worlds. I am died-in-the-wool Sox fan from New England AND, the Cardinals hold their Spring Training about 8 miles from my house !

 

Back to topic......I am finding people will respond very fast to e-mails, too. And, many are sold or under contract. I am still looking for my first deal, it's just a lack of time right now to completely follow up with these people in a timely fashion. And, I think that is the key.......FOLLOW UP NOW !