Tagged: My first mailer @dmin
February 27, 2016 at 9:08 am #2958
AaronParticipantFebruary 27, 2016 at 9:08 amPost count: 96
I sent out my first mailers on 2/12 and started to get calls this past week…
Out of my 6 calls so far
…one guy said my offer was 1/20th of what it was worth so his counter offer was 20x what he says the property is worth $720,000
…one lady said my offer was bologna
…one guy was very polite but said he didn’t want to sell, we talked for a little while
..one guy countered at 4x my offer price (he wants retail)
…the other few left messages saying they don’t want to get my mailers anymore
I have noticed my facebook page is getting new views so people are checking me out. I will keep this post updated. I am still hopeful that I will land at least one deal
Have a great weekend,
Ray MorganfieldParticipantFebruary 27, 2016 at 5:16 pmPost count: 15
Nice, how many mailers did you send out? To what state?AaronParticipantFebruary 28, 2016 at 3:11 pmPost count: 96
I sent out close to 1000 in Colorado
To update, I got another call and one email. One person said they don’t want to sell and the other guy thanked me for the offer and said they are considering selling the land but they are wanting retail…I stay in touch with him, if he doesn’t have success on his own or with a realtor he should get more motivated price wise
Hope everyone has had a great weekend,
AaronAaronParticipantMarch 1, 2016 at 4:33 pmPost count: 96
To update my status… I have gotten a couple more calls but no takers. One guy today might play ball but not sure, we are talking tomorrow
I am getting the feeling that my offers were simply too low. I sent out offers 25% of Landwatch comps but on these bigger parcels the dollar amounts are bigger..for example I sent out $5,800 for 35-40 acres when similar properties are $22,000-$30,000 on Landwatch.
The first caller I get who wants to sell, I am going to send them a dozen roses haha
In the meantime I am staying after it and going to prep my next mailerDavid DodsonParticipantMarch 2, 2016 at 8:16 amPost count: 24
Any particular reason why you picked Colorado? I am just starting land academy. Excited to get started, but curious why some folks focus on certain states. Arizona, Nevada and New Mexico seem to be popular.
Looks like you are having some trouble with your mailers. Do you think there is a different way to gain control of properties without sending out mailers to pick up single parcels?AaronParticipantMarch 2, 2016 at 8:55 amPost count: 96
I picked Coolorado for my first mailer simply because that is where I like to vacation. I hoped to have a property bought before I head out there this week (might get one today) so I could have a look at it in person and mainly to write off some of my vacation as business.
I would say my mailer is successful in that I have been getting calls just not the ones I wanted…if I had sent out 1000 mailers at a higher price I would certainly own some land there already. The main thing is that I have not talked to any sellers yet. Everyone who called me wants retail (not a seller) or thinks the property is going to be the next Denver. (Dreamer)
At worst case I learned about pricing larger parcels but I am still planning on landing something off this mailer even if it is a month or more down the road.
AaronChrisParticipantMarch 2, 2016 at 10:30 amPost count: 252
A lot of people here are focusing on desert land in the Southwest. I’ve never sent any mail there, but desert land seems easier to value and send out offers at $100 an acre.
Your results are very interesting… I’m just noticing how certain areas react differently and also how you kind of need to fine tune your system.
Personally I’ve found that you can get a bigger discount on smaller, lower value property. But when you start getting into higher values, people realize that there is value to it and you might have to offer slightly higher dollar amounts as a percentage.
Please let me know if/when you get a deal. I still think you can get a couple deals from that mailer, which can still net you 10’s of thousands. Good luck!AaronParticipantMarch 2, 2016 at 10:41 amPost count: 96
Yes I now realize that there is a big difference offering $500 on something worth $2,500 and offering $5,000 on something worth $25,000…obvious when I say that now.
My response has been 1 1/4% thus farAriel MullerParticipantMarch 2, 2016 at 12:42 pmPost count: 75AaronParticipantMarch 2, 2016 at 1:46 pmPost count: 96
It was a relief to get it sent out…then the waiting…then the nerves start all over again when the phone starts ringing.ChrisParticipantMarch 2, 2016 at 7:12 pmPost count: 252
Did you use letterprinting.net? Does it normally take about 2 weeks from when your letters get submitted to when they start to hit mailboxes?
If you’ve only just started getting calls this last week, and you’re using bulkmail, you’ll definitely be getting calls for a while. They take a while to get to the other side of the country.
Does anyone want take bets on how many deals you will do from this mailing? My magical guess is 2-3 accepted offers.
My first mailing was offering $1000 on properties worth about $15000 – $20000 (as listed on landwatch. I was offering $200 an acre on the east coast. My offers were way too low. I had two accepted offers but one was in wetlands (not buildable) and I ended up closing on the other one, which I’m now trying to sell for $12000. This was from sending 500 letters.AaronParticipantMarch 14, 2016 at 5:44 pmPost count: 96
I just got back from a 12 day Colorado ski trip, had a lot of fun.
To update my first mailer status… I had a couple more calls, nothing positive. I also got a letter mailed back with a guy saying that he didn’t want to sell the land. Today I got a call from a guy who got my letter and has been trying to sell his land for the past 2 years. I am hoping he is wanting to be realistic with his pricing, I am doing some research tonight on his property before I call him so I have the information if I need to make a decision when I call him back.
Still planning to get a deal out of this mailerAriel MullerParticipantMarch 14, 2016 at 10:36 pmPost count: 75
@astewartconst I’m sure you’ll get that taker any day now, I’m curios did you go through steve and jills package or are you going for it on your own?
I think you hit the nail on the head when you say there’s a difference in offering 10-20% of a $2500 vs 10-20% of a $25000 comp! the way I’m looking at it, is the folks with a $25000 parcel are much less likely to let it go at 80% off, knowing the value their letting go! while the folks with the $2500 folks aren’t feeling such a loss letting 80% go as it only amounts to a $1000 or so.
then again even on parcels worth $40,000 you might have that guy who cant pay or is sick of paying his taxes and will take what he can get, so I wouldn’t count finding a deal in your target market out just yet.
also what was the tax delinquency like in your target county when you searched tax sale list.com? that’s a major factor (the more delinquency the more motivated owners you’ll be hitting with a mailer.
I’m rambling at this point but My brother @aharonmuller and I know a guy Rex Regum is his name on landwatch) who buys large acreage properties (10-40) in the desert parts of La county through county auctions and those comp at $20,000- $80,000 (that one was in malibu) so you can definitly pull a deal and I’m sure you will!
Ps- the payday will also be much larger than us going for the $2500 comps hahahaDavid DodsonParticipantMarch 15, 2016 at 9:46 amPost count: 24
Keep us updated Aaron, I hope your vacation was good. I got a response from a CL ad I posted, I have not sent out mailers yet. A guy called me with .5 acre parcel for sale in north Florida. I told him, I’d call him back after I did my homework. The most I could sell it for on Landwatch would be $1300. I offered him $800. He said no way 🙂AaronParticipantMarch 15, 2016 at 7:25 pmPost count: 96
Ariel, Yes I went through Steve and Jill’s package
Thanks David, my vacation was great.
To update, I got another “no and don’t ever call me again” call today. Also got a letter with a somewhat reasonable counter offer, and lastly I got the call that I have been waiting for…don’t want to jinx it, details to follow
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