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#1 KCKid

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Posted 25 October 2013 - 02:50 PM

Hi everybody -

 

I'm just getting started with lease options and am ready to ramp up my marketing. I've used CL to successfully get contracts on two houses, but want to start working direct mail into the works.

 

I want to keep it really simple. I know John Jackson markets to listed properties, and I'd like to do the same. Basically, go through the MLS and send out a one-page professional letter to properties priced between $100K-$200K in top suburban zips. I would hand-sign each letter and hand-write each envelope.

 

I know that is more time-intensive, but it seems like the personal touch would facilitate a higher open rate. My goal would be to send out 50 letters every morning.

 

What do you think? It'd be 1,000 letters/month to my ideal targets. Cost would be about $550 total. I'd hit the exact same list the next month.


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#2 MichaelC

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Posted 25 October 2013 - 02:54 PM

Hello, KC, and welcome to The Naked Investor.

Your plan is a good one and should prove to be effective.  The key is persistence.  We can't just send out 50 letters on a one shot attempt, or stick a dozen bandit signs in the ground and then complain that "this stuff doesn't work".  It does if we work.  Put your plan into action and the results should justify the effort.



#3 KCKid

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Posted 25 October 2013 - 03:01 PM

Thanks Michael. I appreciate all you do here. I'll be buying the manual soon as I'm sure there are some things in there I can learn and apply right away.

 

I'd love to hear John weigh in and give his take on why he thinks DM to listed properties is the best way to go in his market. I know that his approach is counter-intuitive to what many would think, but it must be working for him.



#4 MichaelC

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Posted 25 October 2013 - 03:20 PM

If John weighs in here he'll give you his reasons why.  In the meantime I'd suggest his approach is based on the homeowner with a listed property that hasn't sold is almost always going to blame the Realtor.  So if you hit that owner up with a letter or three while their property sits unsold, unloved, unlooked at, the Agent always gets the blame.  Hit that homeowner up at the right time and you will receive a "tell me more" reply.


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#5 DanielSun

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Posted 25 October 2013 - 04:05 PM

I'm actually interested in hearing how you got those 2 contracts. Are they sold? What are the numbers look like. Care to share?



#6 KCKid

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Posted 25 October 2013 - 05:14 PM

I got the first two contracts from emailing FSBO's on Craigslist. Seemed really easy, actually. One is a newer 3/2 in a growing suburb that is listed at $158K. Should find a buyer for that one pretty quickly. Asking for 3% option consideration. The other one is a well-kept 3/2 in an older, blue-collar suburb that may be a challenge to sell. It's listed for 108K and is in great shape, but it may be a bit tougher to move. We'll see how it all plays out.



#7 DanielSun

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Posted 26 October 2013 - 02:01 PM

was those from FSBO? or FRBO? what are the comparables? How much rent are you asking for those?






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