GoldBar-Gary's letter to FSBOs.

I was interested in how many deals closed using this letter ?

Thank you so much for all the great information you have shared here.
Happy Father's Day!!

gceriani,

This letter is a new addition into my marketing campaign that I've been using for a relatively short period of time. To date, I have closed six deals using it. Not bad considering I mailed this one out to nearly 50 FSBOs. I mailed out 8 additional letters to FSBOs this past Friday. Flyers in grocery stores and on pin up boards get my phone ringing as well.

For the ones that have not called me back, I'll just send them a post card and them look up their number and call them.

My foreclosure line has brought some good short sales properties as well as pre foreclosures for me to work. My message was not scripted but I re-recorded it about 15 times before I finally decided to save the message. I will be follow up with the people that have called that line on Monday to set up some appointments for Wednesday or Friday of next week.

To be successful, one should not start at the first attempt, as you well know.

What's your best tip on closing deals? Mine is being able to close quickly using cash buyers which is great because sellers don't have to worry about deals falling through just days before closing due to the end buyer not being able to get bank financing lined up.

Post cards work well also.

My goal is to close another 12 - 18 deals before the end of the year. If I continue doing what I'm doing, I should be able to get there once December rolls around.

Anytime Regina. Thanks for the "Happy Father's Day" message too.

Gary,

I saw one of your posts a while back about finding bank codes and if there are not bank codes you know you have a cash buyer, which can then be added to your list. Were you referring to locating these bank codes through the your county's tax assessors website or from getting a list from a realtor on deals that have closed in the past 90 days?? I talked to realtor about it and he said there is no way of knowing if it was a cash sale just by looking at previous sales because it only listed what the house listed for and then sold for. Maybe I'm confused here but I'd like to find out about these 'bank codes' so that i can build my cash buyers list.

Thanks,

Steven

Thanks Gary,
I have added this letter to my arsenal. Right now I only have one for sale by owner property to send it to but in the coming weeks I should get more.
Thanks again
Stan

Steven,

I get the bank code information from the tax assessor's website so yes, you are correct on that. I'm not sure if every county gives that information but I know I can find it for Orange County. I hope you can do the same because knowing is huge with negotiating as you can imagine. In other words, you won't feel as intimidated because you'll know that your offer is going to be pure profit for the seller anyway so they won't have to pay off any exsisting loan prior to cashing in on the sale.

I'd contact another agent and ask for the same information. There are closing statements on the MLS that show how properties close whether it's via conventional financing, VA Loan, or by CASH. Just have a realtor run a query to pull all of the cash property purchases and from there begin working on your buyers list, your CASH buyers list! I hope that helps. Again, mention it to your current point of contact and if he says there's no way of knowing if properties were cash sales, he's just new at it and thank him for his time and find someone that can do it because it can be done. I've done it both in OH and in NY and will do it in FL this upcoming week. I'm not a realtor but realtors have access to that information if they've paid there dues for being able to use the MLS so ask if they have access to MLS information up front because there is an annual fee to use it apparently. I think it's around $500 a year so if they don't have access to it, then your agent may not be a good "CLOSER" and if they can't swing $500 to get MLS access then you might want to try someone more productive. Best of luck.

Any time Stan. Look in your classified ads section to find the FSBOs and go on Craigslist too.

Ask for the owner's first and last name and the property address. Just let them know you're a private real estate investor interested in possibly buying their property with your partner and you would like to do a drive by to look at the property to see if it's to your liking. They shouldn't get offended by that and most likely will give you the information that you ask for.

Please use it and let us all know how it works for you. Remember, yellow legal paid, and hand written. Best of luck!

Hello Gary,

Thank you for sharing one of your letters....I'm sure it will be productive and useful for many. There's one thing in this letter I don't understand and I hope you will clarify for me. In your letter you state, "There is no cash to you for me to do this either." What do you mean by this?
Looking forward to your reply and thank you in advance.

All that means is that the seller does NOT have to pay any out pocket to me directly. This is just to answer a potential objection that may come up which is "how do you get paid or what does this cost me?"

You will be paid on YOUR negotiated price with the seller and the resale price to the cash buyer/end buyer. That's your fee. I hope that clears it up for you. I'm glad you asked that question because others may have been confused by that too. Thanks again!

Thanks, Gary!

Do you live in California?

Vincent

I'm in Orange County NY. In fact, Dean's hometown, Marlboro is about 20 minutes up the road from me.

Oh, OK! That's great to hear, because I was thinking that in CA you would probably have great success in getting FSBOs to sell lower because the whole state has been nearly shot to pieces! Thanks again for sharing the letter!

Vincent