LandInvestors.com Forums +Success Stories+ Deal #11 done – plus 3 more from first mailer??

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  • #1889

    mike dugan
    Participant
    Post count: 65

    Got 11th deal today – sold for 5,000, all in for 1450.00 – 3550 profit (plus interest of about 1800 if he goes full term).

    Buyer put 500 down, put them on a term deal for 6 years at roughly 99.00 a month at 12%

    Buyer works in the office of the Governor of Colorado!

    @admin
    Steve Butala talks about how these lists can yield results months/years after they are mailed. I got commitment from someone I bought some lots from months ago who agreed to sell me 3 more 5 acre parcels. I am paying a bit more, 2k each instead of 1450. Good news is I have a growing buyers list and have at least 1 sold, and hopefully all 3. Will make a little less on each of these, but if I sell at least one for cash and get 500 down each for the other 2, I will have recouped my outlay and and a good chunk of terms payments.

    that means this one mailer will have yielded 14 purchases (and sales) if all goes according to plan. Will update as this progresses…

Viewing 8 replies - 1 through 8 (of 8 total)
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  • James Skinner
    Participant
    Post count: 14

    You are killing it, Mike. Great job!

    How big was that mailer, by the way?

    mike dugan
    Participant
    Post count: 65

    Hey James

    2000 unit mailer first time…

    just sent out another 2000 unit mailer that is starting to generate calls, so we will see how that goes…

    mike

    Michel
    Participant
    Post count: 199
    Pro

    @mike dugan

    Do you tell the buyers the interest amount or work it into the price? I have heard conflicting comments about charging interest. I’m charging 1% interest on two different term deals I’m working on now to cover for yearly taxes and administrative costs.

    Chris
    Participant
    Post count: 252
    Pro

    @mdugan Congrats mike! Are you still on the same county? What size parcels did you target on your last parcel compared to now?

    mike dugan
    Participant
    Post count: 65

    same county, looking at 10-40 acres this time

    mike dugan
    Participant
    Post count: 65

    I charge 12% normally..

    Michel
    Participant
    Post count: 199
    Pro

    @mike dugan

    Is that 12% annually? If so are you sending your customers a interest tax document at the end of the year? A liitle nervouse about the terms contract. Thanks

    mike dugan
    Participant
    Post count: 65

    yes, 12% annual. I will sent them int. statement at end of year; couple of hours work once a year at current level of contracts…

Viewing 8 replies - 1 through 8 (of 8 total)

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