Here goes palmquist, you here on youtube yellow letters are the key to get potential absentee landlord sellers… but, what does the successful yellow letter writer say on his yellow paper…anything palmquist…
Hey Josh,
I’ve built my business targeting private sellers who are in distressed situation. Your letter should be brief and straight to the point. This is what I mail out as my direct mailing campaign.
Hello,
My name is John Doe and I’m a local Real Estate Investor from Miami, Fl. I was in your neighborhood and came across your property located at xyz. I’m interested in purchasing your property from you cash and will close on it 30 days. I buy under any circumstances and will purchase the house in any condition. If you are interested in selling your property please contact me at your earliest convenience so we can discuss the details.
Sincerly,
John Doe
xxx-xxx-xxxx
P.S. Handwrite it in Red Ink. Hope this helps! From yours truly “Mrflippahouse” aka “PrinceofWholesaling”
I guess you’re asking me? We don’t use yellow letters as a rule. If we send a letter we send the cheapest, flimsiest, non-security envelope possible …where the letter shows through the envelope.
The letter verbiage makes ZERO difference. We just need to communicate clearly what we offer/want, as simply and concisely as we can.
All the ‘my wife and I are looking for an investment property in your area’ sounds good in the course material, but is crap ad copy, as far as we’re concerned.
Stick to something as simple as below, and you’ll be good. Anything else just gets cheesy and dangerous to your credibility.
[b]Dear [/b][owner's name],My name is [insert first name]. I’m interested in buying your house at [insert street address and name] as an investment. If you’re interested in selling, for a fair price, please call me today at [insert phone number][b], so we can discuss a sale.
Thank you,
[/b]
[wet signature]
[insert first and last name]
P.S. I pay cash and can close in just a few days, if necessary. Let me know.
If you get more complicated than this, you’r wasting your effort. The prospect needs to sell now, or not. They won’t get any more motivated, because you’re cute and cozy with them. Just the facts, ma’am.
Of course you’ll continue to send to these owners until they call you and say, “Stop sending me your crap!” or something to that effect.
You do want to change up the verbiage for roughly six letters, and then repeat. Also, you can reference the season, if you want, just to highlight how many months you’ve sent this letter to the owner.
IE: [b] Merry Christmas [/b][insert owner's name]
We reference the season/month on our postcards.
Hope that helps.
I got another lead, a $96,000 900sq ft 2 nd 1 bath condo $279 a month condo fee owner says can easily be rented out for $900 a month or he says buy hold or flip for cash, how do I purchase.
Whoa… The first question is should you purchase? $900/mo rent minus about 300/mo in fees just off the top. Leaves $600/mo to service almost 100k purchase price. I wouldn’t touch it for that. Is there any significant discount from market price at the 96k asking price? I don’t see this as a cash flow play for you.
Make sure they are handwritten and sound like just regular person not a huge corp.
Simply state in your letter your interest to buy the house, straight to the point. And include your name at the end. They don’t even have to know you’re an investor, yet.
I just get their phone number along with their address - (you can buy this info unlimited for 49 a month)
and VOICE blast them what you are going to write them…
Its 3 cents a call, and you get immediate results.
Duncan
every body is using the yellow letter nowadays. the rate of return isn’t the same as it used to be, for me at least.
be different and use something different…
why should the owner call you? instead of 10 other letters from other investors?
try to stand out in your copy…
"Hey vacant property owner, what’s with the vacant property you have on 123 street…?
Before you pay one more dime in real estate taxes
Before you lose the house to the sheriff
and before you kick the crackheads living there now. Let me make you a cash offer.
My banker is telling me to use the money before the end of the month, so call me ASAP if you want to sell.
P.S The sheriff is on vacation, so before he gets back make sure you call me."
NOTE: you will not know if this mailing will work until you test it! so don’t assume it won’t. Just be different… and don’t use what everyone else does.
I did the yellow letter back around 7 years ago and just crushed it
it worked awesome. Lined yellow sheet 1/3rd cut
in hand written envelope regular stamp
and then it had my dad and his wife your address and his cell number
very very personable that’s the trick
for agents it’s trickier because you have to disclose more