OfflineLike I've mentioned before I usually double or triple my profits after expenses on these direct mail campaigns.
But this latest mailing is off the charts. Out of 2,500 post cards sent out I got very few calls. But the calls were of a higher caliber.
The first deal I made $5,000, the second deal was the 18 grand from the double wide mobile home, and now I got a duplex and a house, 3 units on a single lot, the seller wanted 127,500. I sent it out and I got a buyer that wants it for 137,500
Now most normal persons wud have been happy with a 10 Grand assignment fee. But oh no, not me.
Because my Kahonas have swelled, I called up the seller and told him the properties needs too much work and its too risky for my partners and I. Unless he can do 120K, Our earlier conversation he said he cud def not go below 127,500. After a little back and forth, We settled on 122K
Holy piles of guano, instead of 10K I just got my buyer to sign my assignment of contract for $15,500 Frikin dollars.
I sometimes surprise myself, am I getting more bold, experienced, more greedy, more smarter, better at negotiating, more obnoxious, going insane or all of the above?
Let's make some Money....
Rando
Rando
Rando, you still using the hand written post cards in your mailing?
On this mailing I used my computer printer with a handwriting font and with black ink on a white card stock.
I used mail merge to pull names off of my Excel list.
It was still a lot of work, plus paying my sister 10% and buying bulk ink etc.
My next campaign I will try using the post card companies, it shud be a lot easier,
Rando
Do you print each card individually, or do you do 4 to a sheet and then have them cut at Kinko's?
I had them cut first. Mail merge pulls off each name off ur Exell list, so each post card is individually addressed to that person.
I'm surprised I didnt get any flak from the DG readers about lying to my seller.
I already had a buyer willing to pay $137,500
Seller gave me his lowest price of 127,500, I shud of been happy with a 10K assignment fee.
But the devil in me and the greed factor had me call up seller and tell him his property was needing too much in repairs and we can only do 120k and we settled on 122k
Will I rot in Hell? Will I ever be able to look in the mirror and sleep soundly?
You bet your assets I will.
Some people will call it lying, some will call it negotiating skills.
But I do feel a little guilty, but seller owned this property free and clear, he was motivated, property needed a ton of work, he's still clearing 120 Grand on a couple of houses built in 1934 and never upgraded.
What would you have done?
Rando
Rando
Sounds like it was a willing buyer and a willing seller. You didn't hold a gun on him to make him sign did you?
No I didn't have a gun to his head, but I did hav his testies in a vice and was clamping down.
Haha, actually, I've learned to shut up and listen to the sellers.
This guy told me he wudnt go below 127,500. But then he tells me he's out of town, the properties are vacant and he needs to sell to invest in another property.
So I had a clue he was motivated. My listening skills and the ability to determine the sellers motivation and distress level or lack of has really helped me to make some good offers.
Rando