I've identified a potential area for us to invest - locally. It's an ex-housing commission area (no doubt some still owned and leased out by the state), but coming along quite nicely with many homes now OO. We missed the buy of the century this week there (70's 3 bed home for $95k!!), but I'm still keen to keep looking. There's not much in my criteria on realestate.com.au (el chepo's under $140k), so I conducted a letterbox drop today stating I'm interested in buying homes in the area. What do you think of this idea?
Letterbox drop
- Thread starter jaspn
- Start date
Did it in townsville in around 2004
Ended up buying a house and the valuation came in over the purchase price. Bought it subject to inspection , which my wife did . One of three Ip's we've owned which I never saw . We had one in rocky which neither of us saw..
Worthwhile exercise . We did that more as an experiment , but I suggested it to a friend who couldn't find the PPOR he wanted in West Pymble . Again successful .
Cliff
Ended up buying a house and the valuation came in over the purchase price. Bought it subject to inspection , which my wife did . One of three Ip's we've owned which I never saw . We had one in rocky which neither of us saw..
Worthwhile exercise . We did that more as an experiment , but I suggested it to a friend who couldn't find the PPOR he wanted in West Pymble . Again successful .
Cliff
What have you got to lose?
Good luck, hopefully you get a call or two!
Good luck, hopefully you get a call or two!
two ways to do it.
mass mail out via one of the letter box drop companies or personally , chatting to people as you go and sometimes finding out info that way .
Cliff
mass mail out via one of the letter box drop companies or personally , chatting to people as you go and sometimes finding out info that way .
Cliff
Put them in all houses . My friend who did a successful one picked up the sale from someone who talked to their neighbour about the mail drop but hadn't seen it themselves .
Half the phone calls we got were from other investors who wanted to see how successful it had been ....
Cliff
Half the phone calls we got were from other investors who wanted to see how successful it had been ....
Cliff
No
Said we were interested in buying a family home in the area ( we were , just not for us to live in...) and were looking to for some one who wanted to avoid the exorbitant fees that agents change .. Or words to that effect .
Had a mobile phone , so people didn't know we were from sydney etc
We were advised that there was a colour that the local electricity authority used when they warned people about power supply being disconnected , so we used that .
One time when the valuation came back over the purchase price .
Cliff
Said we were interested in buying a family home in the area ( we were , just not for us to live in...) and were looking to for some one who wanted to avoid the exorbitant fees that agents change .. Or words to that effect .
Had a mobile phone , so people didn't know we were from sydney etc
We were advised that there was a colour that the local electricity authority used when they warned people about power supply being disconnected , so we used that .
One time when the valuation came back over the purchase price .
Cliff
Good strategy. Cheap and as another poster stated you have nothing to loose.
I do letterbox drops for my biz and average one finance deal per thousand postcards delivered. Add repeat and referrals it is worthwhile. My message is non salesy and focused on educating the reader not how great I am etc.
I do letterbox drops for my biz and average one finance deal per thousand postcards delivered. Add repeat and referrals it is worthwhile. My message is non salesy and focused on educating the reader not how great I am etc.
Awesome strategy. We have found this useful both in Perth and Brisbane. We have found between 2-5 calls per 100 or so drops. But all it takes is 1 good one. Converted one into a great dev block in Perth that I (unfortunately) ended up walking away from as moving back to Brissy, and doing the same presently in a number of burbs!
Basically we are very interested in purchasing your property, avoid agents fees, even if not now in the next 6-24 months etc. Unfortunately for us we have a few keen in 12-18 months but nothing now.
Signed them all personally so it seemed more "special".
Good luck with it!
Cheers
Basically we are very interested in purchasing your property, avoid agents fees, even if not now in the next 6-24 months etc. Unfortunately for us we have a few keen in 12-18 months but nothing now.
Signed them all personally so it seemed more "special".
Good luck with it!
Cheers
As others have said, what do you have to lose.
My daughter and her fiance want a income producing property. They found a lovely 3 unit one, and it would mean they could almost live for free.
They know they won't be able to qualify for a mortgage, so I suggested they ask the owner if he would be willing to do a Vendor Finance. If so, how much of a downpayment would he require etc. I said the worse can happen is he will say no.
The vendor instead, asked my daughter to call him so they could discuss it further. With shaking hands....my daughter did.
He said he wants about 8% downpayment, but would still keep it on the market for the next 2 weeks. If it doesn't sell, he is taking it off until next spring, which is perfect for them, giving them time to save.
The point is...he didn't say no.
They may not be able to buy this property, but it will give them the confidence to try again.
So try anything and everything ...and good luck.
My daughter and her fiance want a income producing property. They found a lovely 3 unit one, and it would mean they could almost live for free.
They know they won't be able to qualify for a mortgage, so I suggested they ask the owner if he would be willing to do a Vendor Finance. If so, how much of a downpayment would he require etc. I said the worse can happen is he will say no.
The vendor instead, asked my daughter to call him so they could discuss it further. With shaking hands....my daughter did.
He said he wants about 8% downpayment, but would still keep it on the market for the next 2 weeks. If it doesn't sell, he is taking it off until next spring, which is perfect for them, giving them time to save.
The point is...he didn't say no.
They may not be able to buy this property, but it will give them the confidence to try again.
So try anything and everything ...and good luck.
Yes, letter drops work, good idea.
Two ways to do them imho.
1. Mass mail addressing the letter to the owner. Lower conversion ratio but it's a shotgun approach which works.
2. Order title searches to find out who the owners are and personalise letters to them. higher conversion ratio but more upfront expense and still no guarantee.
Two ways to do them imho.
1. Mass mail addressing the letter to the owner. Lower conversion ratio but it's a shotgun approach which works.
2. Order title searches to find out who the owners are and personalise letters to them. higher conversion ratio but more upfront expense and still no guarantee.
Third way, give your local postie a case of beer and get him to deliver 'em as he does his round
I tried this in Melbourne some years ago now, the problem I found is the vendors always wanted more money than what the property was really worth, ended up always walking away.
