Buying a house through letter dropping

[trey]

Interested to know if anyone has purchased a house buy placing a letter in the the letter box because you are targeting a certain street in a certain suburb??
Ive figured at the end of the day everything is negotiable and you might just get lucky.

If you have experience with this please share your story

 

[Singo]

Discussed earlier in this thread
http://somersoft.com/forums/showthread.php?t=91525

It would be easier to continue any discussions there.

 

[jackbak]

We tried this, but didn't get anywhere. Definitely worth a shot though, the more you try the more chance you have of getting something.

We picked 20 homes that really ticked the box (land size, location, period home) and hand delivered them all letters telling them a little bit about us and that we wanted to buy their house - I think it's important not to make it look like a mass mail out. Only had 1 response and it was from a nice old man who said he wasn't selling but wanted to tell us how much he loved the area and that he hoped we found something soon. Luckily we found something a couple of weeks later.

 

[trey]

ok i will read the thread. yeah thats what im going to do @jackbak.

 

[marg4000]

We are often targeted in this way.
We figure it is just another RE agent avenue of seeking listings.
Marg

 

[jackbak]

We are often targeted in this way.
We figure it is just another RE agent avenue of seeking listings.
Marg

That's why it's important to personalise it, make sure it's clearly not from a Real Estate Agent because if they think it's from an agent it will be ignored.

 

[Connolly]

We have had significant success with Gumtree and private sales- putting an ad up on Gumtree outlining exactly what I am and am not looking for.

Have had multiple properties sent through to me to peruse and have been able to negotiate directly without an agent in the middle.

First purchase picked up around 40k under market value and have one under contract at the moment that requires around 20k to be spent on it but will come out making a 60k profit there abouts. Both producing strong cashflow!

 

[ad5]

I did this, I wrote a personalised letter as it was for our PPOR. The response rate was 1%, which was about the response rate reported by others. Unfortunately those that responded had inflated expectations of their home value.

 

[marg4000]

I did this, I wrote a personalised letter as it was for our PPOR. The response rate was 1%, which was about the response rate reported by others. Unfortunately those that responded had inflated expectations of their home value.

You are targeting people who have not made a decision to sell, and quite possibly don't want to. Naturally they will want top dollar as the advantage is all on their side.
Marg

 

[cu@thetop]

We have had significant success with Gumtree and private sales- putting an ad up on Gumtree outlining exactly what I am and am not looking for.

Have had multiple properties sent through to me to peruse and have been able to negotiate directly without an agent in the middle.

First purchase picked up around 40k under market value and have one under contract at the moment that requires around 20k to be spent on it but will come out making a 60k profit there abouts. Both producing strong cashflow!

This sounds like a good idea and might be worth a shot.

 

[see_change]

You are targeting people who have not made a decision to sell, and quite possibly don't want to. Naturally they will want top dollar as the advantage is all on their side.
Marg

Not necessarily , Some have a dislike / distrust of agents , some aren't aware of what might have happened to prices recently so may not be aware that prices have risen.

We bought a property in Townsville and the valuation came in over purchase price . Sellor was a real know it all who thought he was ripping us off and didn't know prices had gone up recently

cliff

 

[willair]

Interested to know if anyone has purchased a house buy placing a letter in the the letter box because you are targeting a certain street in a certain suburb??
Ive figured at the end of the day everything is negotiable and you might just get lucky.

If you have experience with this please share your story

No never used that system,but we get several each month on a inner city rented property,one came in the po box today,and it's interesting the wording they did not use our name but the letter-head was "fellow-investor"so they have done a title search,and the offer is in cash with 60 days,we get about 2 offer a month on that property..

 

[Spanish1]

I have done this when looking for land a couple of years ago, sent about 30 letters out, they were personal letters but short and simple at the same time. This was in regional towns, and the response rate was very high about half the people responded within a day or two wanting to discuss further. A few did mention they hated/distrusted agents so they really appreciated the letter. And yes, ended up buying a block in the end.

 

[JennD]

One 'expert' told me they had a 1 in 50 success rate, but that that one made it worth it. Not sure if pulled from the magic stats tree, but interesting.