bwaldon4ParticipantOctober 26, 2017 at 1:49 pmPost count: 75
I just finished sending a few hundred postcards with some encouraging results. I now want to test 500-600 blind offers in the same area (out of state).
How much (%) do you normally offer? The area I’m mailing is a growing economy and I’m targeting land 20-60k in assessed value.JT TaylorParticipantOctober 27, 2017 at 2:24 pmPost count: 35
A few thoughts. I would strongly discourage sending post cards for many, many reasons. I would encourage you to listen to Jack and Jill’s podcasts and devour everything they have to say as they will repeatedly share why sending post cards is not the best strategy.
In terms of how much to offer, that is the $1Million dollar question. The answer is, it depends. It depends on what your end goal is. It depends on the various types of properties (land or homes). It depends on the various attributes in a county…close to the water tends to go for more and many other factors. It depends on how much money you have to acquire property, etc. etc. etc.
I would not suggest sending out less than 1,500 for your first mailer. You want a fair market test. 500 – 600 may get you some results, but you are risking not getting the primo deals with that small of a number. Yes, you’ll get deals..but they may be dogs and you may just end up with a really bad experience and think “this doesn’t work.” Well, it DOES work, but you’ve got to follow the proven system.
Hope that helps,
JT Taylorbwaldon4ParticipantOctober 27, 2017 at 4:53 pmPost count: 75
JT, thanks for the feedback!
I have over 50k cash to work with. It is very hard finding any property worth less than 10k within 50 miles where I live.
So far in the county I sent post cards to, the assessed values seem to be on the low side. About half of what the comps show, but I haven’t found too many comps.
I’m thinking of starting with 15-20% of the assessed land value for out of state owners.
You really think I should send over 1k?Kelly GithensParticipantNovember 3, 2017 at 8:37 amPost count: 5
Same question as I presented on Jack and Jill’s webinar:
Since the methodology Land Academy uses is to present offers during the first letter, I want to to make sure I understand the thresholds to use for both:
All the other filters are clear.
Guess I’m looking for a formula to consistently apply; Jack just used a 5 acre property for $500 example in Chapter 5 of the training and I want to make sure I get it right, especially for my first mailing in Mohave County. All the other filters make good sense. I’ll send to the Forum too, but I’m looking for an answer that will yield me enough records to work with, but won’t swamp me. Re-phrasing the question, what would be a good price range and good acreage range to use for my first mailing to Mohave County? TIA
Kelly GithensJill DeWitParticipantNovember 3, 2017 at 4:24 pmPost count: 436
Boy if only there was one consistent formula… (That would be so nice!)
Our most successful members think outside the box and really spend time using our methodology to identify other counties. (With 3144 to choose from there are a lot none of us have touched!)
They also spend days locked in their offices (Jack included) reviewing data, similar “for sale” properties, etc., to come up with unique offer prices. Not one by one, but by area, since not all areas of the county are priced the same. As you get into it you will see higher and lower prices that can be tied to APNs or subdivisions, or even blocks, when looking at houses.
My recommendation? Skip Mohave, use the steps Jack shares, and select a parcel size that fits your acquisition funds budget. (Like buy 10 for $1,000 each if you have $10k budgeted)
Hope that helps!
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