Marketing Strategy

General Real Estate Investing
1

I have a marketing strategy that I would like to run by the pros.

Here goes:

I’ve obtained a list of homeowners (list includes property address, county value, and owners mailing address, etc.). This list is primarily targeted for Non-Owner occupied properties. The idea is to contact property owners who are not living at the property we are inquiring about.
The area is a working class, rental, middle to lower class area. Lots of rentals in the area.

Now what would you suggest in the letter? Where I’m having trouble formulating a strategy is this. On how to structure the letter. Should I offer cash for the property straight out with a specific amount? Or should I state that I would like to buy your property and then negotiate a price after I’ve seen the property and confirm if there is a mortgage on the property? Also, should I represent myself or should I do it under my companies name which is a real LLC?
For example My Name is John and I would like to purchase your property,etc.

My inclination is to offer to purchase the property and then look at it if they are interested in selling the property. On the other hand if I do some more research and find a specific property I would like to purchase maybe I should just send them a letter telling them the price I would like to purchase the property for.

Any thoughts!

Regards,

John

2

Don’t make an offer in your initial letter. Make it so only those interested contact you to sell you, once they call you can prescreen those who are motivated and the tire kickers.

your letter should be full of benefits, how they could save money, bla bla bla, guarantees, and strong closing.

Write down any objections, or benefit of selling to you sellers may have, then write your letter in a format that would answer these concerns.

Make sure to mail them at least 3 times.

3

Thank you Fadi for the insight.

Looking to contact Non-Owner occupied properties. Was thinking of presenting my self a investor who is interested in buying rentals, specifically problem rentals,etc.

Have any experience with non-owner occupied properties?

4

I had some contact me and bought couple of them… the ones who found me were motivated enough to just walk away. An investor friend is negotiating with an old lady who wants to sell 5 houses as a package deal.

There is good potential in them, but not every one of them is a deal.

5

Fadi is right, alot of people just wanna know “what can you do for me” then they call the next guy and so on… But keep it up, you might get that one person that house 5 properties that wants to sell to just get it over with… We had a similar deal here in VA where the guy was local but he had 4 house in a diff city he wanted 400k which was basically all cash for him and we are in the process of selling for almost 900K now… People just get sick of houses… keep lookin, like Fadi said, they are not all deals, but you will pop a good one

6

Just a thought I want to throw out there - if you send a letter or postcard with an offer for a property and signs it… Guess what… if the other person likes your offer and signs it and sends it back to you… you have a contract… :O)

7

i like the thought, but its kinda shady… The homeowners I have dealt with, dont really understand 90% of any real estate transaction… In order to avoid any future law suits, i wouldn’t use that as a valid contract…

8

Step by Step:

Get List (you got it)
Prepare Mail Piece (my preference is post card)
Mail Post Card
Answer Phone
Determine if enough equity to buy.
If equity go see the home
Make offer
Close

Do it again.

9

mfouts - I believe you missed my point. I am not advocating doing that… I was saying the opposite - be careful - don’t do that because you may end up with a contract that you didn’t want. Never put a price in writing if you are not sure you want to pay that much… I hope this helps clarify… Have a great weekend! :O)

10

Thanks jadi… You did clear it up… Sometimes I get a head of my self when im reading… Hope you have a great week… :biggrin

11

see just like that… I mixed your name with someone elses and created a whole new one :slight_smile: its not even that late and im screwin stuff up… I need to go to bed… been a stressful day…

12

mfouts - I was wondering who jadi was… I have been called many names, but never jadi… :O) Have a good evening. I hope tomorrow will be less stressful… :O)

13

I agree with fadi. Make your clients feel that you’re the best and you’re very reliable. Make them feel that you are the one they’re looking for.

14

instead of a purchase “contract” per say, why not just try the old Letter of Intent… this would allow you to walk if you are not sure of the deal at all…

letters of intent are practically useless in the legal sense… they just state you intent on purchasing the property…

good luck

15

The letter should be like a pitch, less information… tease them and make them hungry for more information :slight_smile: