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  • #1308

    Ben H
    Participant
    Post count: 77

    Newbie question – I completed my data pull (a range of 5.0-10.0 AC properties in New Mexico) for my 1st mailing. I noticed some have really low assessed and market values (maybe an assessed value of $25.00 for a 10 AC property that has a market value of $125.00). Should I filter those out? Even @ $75/AC, I feel strange about offering $750.00 for a 10 AC property with an Assessed Value of $22.00 and a Market Value of $65.00 (real example from the data).

    Unfortunately, when I do a Google Earth Pro APN search on these properties, nothing comes up so I haven’t figured out a way to get a look at these properties.

    Any thoughts would be greatly appreciated.

    Thanks in advance,

    Ben

Viewing 4 replies - 1 through 4 (of 4 total)
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  • Luke Smith
    Moderator
    Post count: 1263
    ProAdvanced

    Can you research a couple of them to test the data? Look for roads, power ect. Are they land locked or some little tiny freak size that can’t be used. What do you think the market value is? Not the stated market value some software data is feeding you but what you could sell it for.

    Look for some comps, Zillow, Landwatch, Craigslist, ebay and where ever else you can think of.

    Put one up on craigslist and see if you get any potential buyers. You don’t have to own it to advertise it. Just do some market research by testing.

    If you know what you can sell it for then you can figure out how much to offer them.

    Luke Smith
    Moderator
    Post count: 1263
    ProAdvanced

    Another thought is that if the data is bad maybe you should try a different county to start in.

    Ben H
    Participant
    Post count: 77
    Pro

    Luke,

    Thank you again for all of the responses. The data itself looked good so I did as you suggested and researched a few via Earthpoint.net as APN in Google Earth Pro didn’t work for that county. There didn’t seem to be anything terrible about the properties although a couple did appear to have limited access. Ultimately I filtered out about (15) that were had really low assessed values and then I lowered my offer price to $50 per acre on another (20) or so that had sorta low assessed values. I just pushed the button to upload my files for a 583 piece mailing (@lake17 should be getting commission checks from letterprinting.net, btw). I added my own name/address to the spreadsheet to see how long is takes for me to receive the letter standard mail.

    Thanks again and I’ll keep the group posted on response/conversion rates.

    Take care,
    Ben

    Thanks again and I’ll keep the

    Luke Smith
    Moderator
    Post count: 1263
    ProAdvanced

    @bhughes
    Sweet!,
    I bet you get some takers. My last mailer keeps the phone ringing. More callers every day. I started thinking I was getting to the bottom of the good quality ones but then I picked up three more properties yesterday and two more today. It seems like the phone would die off but they keep calling.

    Some are saying they just got my letter so it took weeks for the USPS to deliver it via standard mail.

    Makes me wonder what a $50 an acre offer would turn up. Can’t wait to hear what you get.

    One lady who called me today said she would rather take the paperwork to her bank to get it notarized than have someone come to her house she does not know. I told her I would send her payment after I received the paperwork back all notarized. She is very happy I am so accommodating.

    This is a really weird business. Guy you don’t know(me) writes you a letter and you say yes sure I will sign my land over and hope you pay me.

Viewing 4 replies - 1 through 4 (of 4 total)

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