Sent Out 76 Letters Today...
I sent out 76 letters to people in pre-foreclosure. I have written three total letters and plan to send one today, one two weeks after today, and one a month from then.
I'll let you know if I get any calls.
Keep us posted of your success rate. I plan to do the same thing soon, but with postcards!
Good luck indeed!
Good luck!
I'm thinking about postcards next time.
cost per letter including postage and envelop is about $.63
It took a few hours to print, hand write all the addresses, stuff, stamp and mail all of them. Next time I'm finding cheap labor
Keep us inform of the results.
I think you might get better responce if you go to there house and try to talk to them, because alot of investors are sending letters and they will most likely throw the letters away.
If you have Microsoft Word, you can do a pretty simple mail merge that will insert their names and address and anything else you like on the letters and on the envelopes for you.
Of course some people like to hand address the envelopes thinking they will have a better chance of being opened instead of just tossed like so much junk mail.
[addsig]
Honestly,
I'm not trying to be a one upper, but I just got done sending out about 600 of them. Only about 50 envelopes were hand written, the rest were done with a mail merge in word. I'll be happy if I get one deal out of them. I'm expecting about 5 phone calls. We'll see what happens.
Ryan J. Schnabel
My handwritten addressing days went by the wayside a long time ago.
I'm sure it's more productive-- but when you go from 76 to 760 you'll be willing to compromise. More mailings increase your chances significantly and offset the handwritten advantage.
I sent them to 3 nearby counties, I did use a mail merge from MS works/word and hand addressed them. Your area might be different, but there aren't many investors around here.
I don't have time to knock on each individual door, if I had the time, i still don't know if I would. It's not necessarily the way i want my deals. I want them coming to me.
[addsig]
I am new to investing in foreclosures and flipping properties. Do you go down to the court house to obtain records of pre-foreclosures for sending out letters or are you getting this information from somewhere else? Any tips from the pro's here, would be much appreciated
SuperTones, aka 3 octaves up and climbing.
The first letter which approx the Notice of Default, same type envelope and printing etc. Except in 14 point bold you inform them that they are entitled under State Law to a free informative interview with a highly qualified specialist in solving foreclosure and related problems. Big telephone Number.
The Second letter sent at the end of 30 days. Envelope is Blue and heavy address in 12 Pt. Bold. upper left cornor it states sender your name title Trustee.
Body of the letter. I have not heard from you I am reserving time for your free interview. Dont let the financial community take your home away from you.
Third Letter
Mailed to be received two days after Notice of Trustees Sale. This allows time for the property to be posted. They have about 20 days before sale.
Envelope is once more an official look a like. Their name in 12 pt bold and the return upper left. Once more your name and the title Trustee after it.
Body of the letter states. You have waited too long. Imperative you call me or you will looooose the house. You cannot afford to delay. etc. etc. Not too long cause if they are having a motivation problem they can no longer read long or complicated letters.
You then wait two more days. No call you go bang on the door, and you leave this a simple letter written on 24 sheet heavy paper.
Body of the letter. I have the funds to help you but you must help yourself. I came here because I am worried you are going down the drain. Imperative you call me.
Check with the Trustee day before sale to see if it is still on. Go bang on the door. No answer and they still live there. Then attend the sale. Introduce yourself to the Trustee. Tell him you tried as hard as you can. Tell him you are a Morman, or a Quaker or HollyRoller, anything to give authenticity to your self. I just described myself as a Real Estate Broker who specializes in tragedy. Whatever. If the sale is postponed, then back bang on the door and try again. You will make contact some time or other.
All this after a lifetime of banging on doors, I await the great day when, the door bangs back.
And dats da truth. Lucius
Sorry, wordy am I not?
Each period during the 90 days of Notice and the 21 days of Notice of Trustees sale call for slightly different methods.
In the early days you try to learn the underlying problem and come up with a proper solution. Borrow an additional loan, Refinance with trans of title to a relative, close personal friend or the probation officer. etc.
Getting close to Trustee Notice, you then have them consider sale of the property with money to start all over again in a trailer, small apt. tent whatever.
At about 5 days to sale. You go for the property with offer to save credit, put them into an empty apartment that the sheep just vacated. But now you go for the property. Cure forcl and flip flop, or rent out with option to purchase www.etc.etc.
One day before sale, yes you can at least postpone the sale if you have a worthwhile deal pending. Yes you can even do a short sale if if you can do the paper work really fast. I keep most of it on my computer so I can fill it out and print. I also have appraisal forms etc. etc. so it can be done fast.
At sale you are meeting the Trustee, you can use him become friendly pop for lunch. Get to know him see how dedicated he is. Nothing like a nod or an upraised eyebrow at some future sale to alert you to stop or go......
Also because the times they are a changing, a possibility of getting from the Trustee and or REO office aka Loss Mitigator aka (Walter Mitty). an indication of how they stand as to the property. Are they soft or hard as to price. Do they know the terrible true facts, like it is on a newly discovered fault line. The cassions and grade beams do not penetrate the over burdon of soil. The King studs are missing, the Jack stud is a Jill, the regular studs are not 16" on Center but 24". Alll the water lines are galvanized and the orfises reduced to about a 1/16th and that rusty. etc. etc.
The main 4" waste line is backed up and the attic is full etc. etc. etc. Show pictures and all the bad ones. Then attempt the short buy but without the paper work.
Go for it. Lucius
OCS:
Best of Good Fortune to you in your "3 Step Letter Mktg" campaign!
ALL:
Take Lufos VERY SERIOUSLY!!!
I've been able to make plentious dinaro utilizing what is called:
EMOTIONALLY DIRECT MARKETING APPEALS.
Show them their own PAIN and I am sure they'll be motivated to action---choosing YOU!
Best of the Best to you all!
Derrick
I just received my first call...
It was from one on the 5 vacant letters i sent out (drove and found vacant houses, mailed to that address)
She thanked me for calling and said they just inherited the home and had plans to fix it up and move in.
She kept thanking me and wanted to let me know what the status was (how nice of her).
I thanked her in return and gave her the name of a friend of mine who does repair/maintenance on homes/property.
Strike 1, at least it will save me about $.63 mailing another letter to their home
In two short (well short for Lufos) posts, Lufos has laid out the plan on how to survive,jive, and thirve in the foreclosure industry. Use his approach. You will have great success.
I have ordered his book. He tells me that the introduction alone contains 788 pages. I shall read very word of it. Lufors is the man.