LandInvestors.com Forums +Success Stories+ Hate, hate and more hate

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    Kevin Janicki
    Participant
    Post count: 9

    I decided to post this in the success forum simply because I view taking action as a success in and of itself.

    So I sent out my first 1000pc mailer to a neighborhood I know fairly well down in the southern part of Florida in a small town where there are over 5000 vacant lots and a county where there are tens of thousands of vacant lots. These are quarter to half acre lots (mostly quarter) and there are houses dotted in and around the area. The lowest “comp” on Zillow and landwatch is 7900 and most lots are for sale between this price and say 24000. (Assessed values are mostly in the $6000 range.) The only thing is that of these comps, most have been listed for a year or more, so I wouldn’t say there’s exactly a hot market down there by any stretch. When I scrubbed my data, I noticed that the county owned dozens of these lots, so based on my interpretation of Steve’s logic this seemed like a decent area to canvas. I priced my offers at $1200 – no doubt a low number, but I was hoping to pick up a few where people were sick of paying taxes and HOA fees.

    Results so far of week #1 of responses: 0 deals and major, major hatred. It’s pretty safe to say that any dreams I may have had for running for public office are over lol. I truly can’t believe how emotional people get over receiving an unsolicited low-ball offer on a piece of dirt. You would think I had just threatened to kill their dog or called their mamas ugly. I guess I should have left in the clause in my letter that the seller could keep the mineral rights, because most of these people must think they are sitting on top of a pile of gold. The only thing I can think of as I’ve looked up the purchase history on those properties where the owners actually tell me their names before telling me to F*&% off, is that most of these people bought these lots in the early/mid 2000s right before the big bust and have lost a ton of money. The worst one I’ve seen so far was a guy who paid $48,000 for his lot in 2005. Not coincidentally, his counter offer after telling me to F&^% off was $50,000. I guess that brings back a lot of pain for these guys and they have me to take it out on. One lady pronounced shame on me, said I was deceptive and prey upon/take advantage of old people.

    Takeaways: Before sending out a mailer in Florida, be prepared for the worst kind of hate imaginable, because a lot of people did a lot of speculating and lost a lot of money. I seriously think they all have the deeds under their pillows at night and cry themselves to sleep hoping that the market becomes completely irrational again so they can make their money back.

    What do you all think? Was I wrong to offer so little? With lots sitting on the market for a year or two or three, I certainly wasn’t going to offer $8000. Anyone else having any luck in the sunshine state???

Viewing 15 replies - 1 through 15 (of 25 total)
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  • David Dodson
    Participant
    Post count: 24

    @kjanicki76

    I think you need to get more rural than south Florida. You might be referring to the Lehigh Acres area, perhaps. I get the impression the best place to do rural land investing is in places where nobody wants to be, period. South Florida is not one of those places. Everybody wants to be in Florida (For some reason).

    Also look for large counties in terms of actual land area. Bottom line is rural areas and large counties. It also helps if the topography and attributes are generally the same. Because then you can pretty much nail the per acre price and apply it to any vacant parcel. I’d save the more urban areas until you are more seasoned.

    Kevin Janicki
    Participant
    Post count: 9

    @ddodson2

    I agree at this point with going more rural, but it was worth a shot, and it definitely teaches you to have thicker skin when the nasty calls start rolling in. It wasn’t Lehigh Acres, it was in Charlotte County. Apparently the old pirates of the Caribbean used to bury their treasure in the vacant lots down there causing people to think they are worth $48,000.

    Aaron
    Participant
    Post count: 96
    Pro

    Kevin,

    Don’t fret the angry calls. I am just getting over my first mailer wave of angry people. Seems like the most pissed off people call immediately and the better calls come a few weeks later.

    I had one guy tell me my offer was 30x below value so his counter offer was $720,000…If I was rich I might have send him a check for that amount just to see his reaction lol

    People are unrealistic on valuations its just the way it is

    Kevin Janicki
    Participant
    Post count: 9

    Thanks Aaron. I talked to Luke Smith today and he said the exact same thing. Angry initial wave followed by more interested sellers. I wasn’t quite prepared for it at first, but now I know for future mailers. I guess some people have nothing better to do than to blow up at the slightest little thing.

    Aaron
    Participant
    Post count: 96
    Pro

    Stay with it Kevin. I got two positive responses today and my first mailer hit about a month ago

    Kevin Janicki
    Participant
    Post count: 9

    That’s great Aaron! Thanks for the update and keep me posted on how the deals go. It sounds like our mailer valuations are very similar, and I’m getting calls like you from people who are telling me I’m off by 20-30 times the price. I’m only week 2 into getting calls and the fact that you are getting a couple positive ones after a month is encouraging.

    Chaz Albrecht
    Participant
    Post count: 120
    Pro

    @astewartconst are those the first positive responses you are getting?

    I sent my first mailer out 2 weeks ago and have gotten probably 20-30 calls. Only one deal lol. I was starting to think this mailer was tapped out, but if what your saying is true there may be more to come.

    K cantley
    Participant
    Post count: 3

    realize that these people might look at you like you just told them their property was a piece of junk. You are correct- they “think” they still have alot of value in this land- and when the bearer of bad news comes along….. they take it out on you.

    K Turner
    Participant
    Post count: 12
    Pro

    I just got some pretty awesome hate voice mail this week.

    A little old lady that thought i was an immoral predator, a gentleman who swore he was keeping my letter and was going to report me (the land police maybe?), a guy that sent me about 8 consecutive texts and voicemails letting me know how much he disliked me (some in different languages), and a guy today whose vocabulary didnt extend very far past a few choice four letter words.

    This is On top of the normal ones that want $60k or more for their parcels, which is just a hair away from my $500 offer.

    I used the program letter and just plugged in the mail merge data with $100/acre offers on 5 acre parcels in a large rural AZ county.

    I am starting to get a little thick skinned. i totally get where you are coming from. I will plug away.

    Chaz Albrecht
    Participant
    Post count: 120
    Pro

    @landpearl122 Part of it man.

    You know, I was thinking about this yesterday. If every person bought their property as an investment, how would their values rise? Isn’t their assumption that other people will be building, thus boosting appreciation? If anything I think we’re doing them a service by getting cheap property in the hands of people that may develop and build.. Maybe. Just a thought.

    Kevin Janicki
    Participant
    Post count: 9

    @landpearl122

    That’s hilarious. I think that same little old lady emailed me a couple weeks ago. Maybe Steve and Jill can do a podcast on the best hate responses. I could see that one going sideways really quickly. I especially like the ones where they forbid you to ever contact them again like there’s a do-not-mail list out there somewhere.

    Chaz Albrecht
    Participant
    Post count: 120
    Pro

    @kjanicki76

    I actually got an email two days ago saying to put him on my “federal DO NOT CONTACT (EVER) list”. Do you know where I can get a federal list like that? lol

    Luke Smith
    Moderator
    Post count: 1263
    ProAdvanced

    I’m swimming in hate today. I feel myself ducking when I answer the phone. Guess good ones are just around the corner as the hate usually proceeds good deals for me.

    Sold one today! Paid $1,890 sold for $4,500, 18.9 acres. Best part is that it was actually from a deal I posted on the deal board. Got too many responses so I offered this one instead. I did everything for the member who financed it. Been doing a couple of those for others.

    Chris
    Participant
    Post count: 252
    Pro

    @kjanicki76

    I think that area has been worked hard. I was listening to a podcast of a lady who was sending out thousands of offers a month to those counties in that area.

    You may have gotten a deal but if someone already worked the county, they picked up the low hanging fruit already. I’ve been hearing of a few instances of that lately.

    Avery
    Participant
    Post count: 8

    Hey Chris this was someone investing in raw land? Can you share the name of the podcast?

Viewing 15 replies - 1 through 15 (of 25 total)

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