We letter drop to find seller!

[Olive]

Old fashion letter drop, that's what all the local agents do, they letter drop promote themselves ask you to contact them if sell. We get a full box of those all the time.

We thought rather sit there and wait why don;t we print some letters and drop straight into the seller's box? which we did - for a complex of town houses in a perfect location which we have inspected all surrounds and the internal layouts from past inspections, floor plan wise they're basically all the same which makes no surprise.

May do it again if we lock in another lot of targets.
Just wanted to share

 

[BV]

Olive

Great idea but what did you write?

 

[Olive]

We put down if they plan to sell within the next 6 months give us a call we will be interested and they save on agent sales commission. We said we are not agent and only want to buy a place to live in. Left our name and number. Was just a simple note sealed in an envelope addressed to the home owner.
We done homework looked up which ones are IPs tenanted and skipped those, skipped also were the ones been sold in the past couple of years and the ones we don't like anyways.
We feel good planning it and making it happen rather than sit there feeling helpless.
What else can be done, any suggestion?

 

[BV]

Its not a bad plan.
Which suburb are you interested in and how much do these go for?

 

[Simon]

Great idea. Better than sitting at home waiting for one to appear.

Love to know what replies you might get!

 

[Delilah]

We have had several in our letter box asking if we wanted to sell a few years back when Brissy was booming. Please type them professionally. One was hand written with spelling mistakes, hmmm.

 

[HappyCamper]

I've letter box dropped hand written letters on a street we had our eye on for our PPOR about a year ago and didn't receive any calls.

 

[ali]

I did something similar several years ago when we wanted to buy in a small beachside suburb and noone was selling. Dropped photocopied fliers saying we were interested in buying their property in about 100 letterboxes and, yes, it was successful. Added benefit was cutting out the realestate agent.

 

[Jacque]

We done homework looked up which ones are IPs tenanted and skipped those...

Hi Olive

Curious to know how you found this information, as databases don't specify if a unit is tenanted or not. Even selling agents don't have access to this information, unless they go doorknocking and specifically ask each resident.

 

[HappyCamper]

Hi Olive

Curious to know how you found this information, as databases don't specify if a unit is tenanted or not. Even selling agents don't have access to this information, unless they go doorknocking and specifically ask each resident.

Not sure how Olive did it, but if it's a very targeted letter box drop, then you can always search oldlistings.com.au to see if it has been previously advertised for rent.

 

[Kayak Girl]

Hi Olive

Curious to know how you found this information, as databases don't specify if a unit is tenanted or not. Even selling agents don't have access to this information, unless they go doorknocking and specifically ask each resident.

I have recently been researching to buy my first home (to be used as an IP & possibly PPOR later) I rang a number of popular property management/realestate agents in the area and it was very surprising the amount of info I could get on the current/previous rents for various units in a number of blocks

If they think you are interested in purchasing and just may well use them to manage your property you have them wrapped around your little finger (of course confirming their quotes with a number of agencies!)

 

[Olive]

I did something similar several years ago when we wanted to buy in a small beachside suburb and noone was selling. Dropped photocopied fliers saying we were interested in buying their property in about 100 letterboxes and, yes, it was successful. Added benefit was cutting out the realestate agent.

It's encouraging to know someone did the same and that it worked! Many thanks

 

[BV]

We went to an auction last Sat a 3 bed fibro in Asquith sold for $637. It a 1920's with very heavily cosmetic reno.
Olive

Keep going to auctions, and one of these days you'll pick up something. Good luck

 

[ali]

It's encouraging to know someone did the same and that it worked! Many thanks

Hi Olive, if you do it, make sure you know the market really well and what a property would be worth on the open market as private sellers often overestimate the value of a property.
Also, if you are borrowing above 80% LVR and need a valuation for finance, valuers don't seem to like valuing a property that hasn't been tested on the open market and may err on the side of caution and undervalue it. Good luck! Ali

 

[neK]

Good on you olive for doing that!

I thought about doing the same thing, but kept chickening out.

Any luck so far?

 

[gronk007]

Hi Olive,

It's a great idea!

I letter dropped about 7 years ago, and it got me my first property

Typed letter, sounded motivated but not desperate...

Keep up the good work!