Hello all,
Great updates on the yellowletter campaign and patlive!
A brief summary of what we have done and what we`ve found:
- We have mailed 4,000 yellow letters to postal codes in Nanaimo (why don`t we have targeted lists in Canada!?!?)
- Letters were only mailed to addresses where we had the full First and Last Name - thus, more personalized
- We sent the letters out in 400-800/week batches over the last 7 weeks
- My father-in-law (and fellow REIN member) has answered almost every call! We did NOT use Patlive
- Response rate is approx. 25%
- Of the approx. 1,000 who have called, the categories have been as follows:
40% have been "curious" and just want to know what we`re up to and "why my house"?
30% have been interested in selling....for the right price
20% are not selling and have asked us to not contact them again
9% have been quite rude and/or calling us "scam" artists
1% would be classed as "maybe" deals
- We have been called by the police, a lawyer has called us on behalf of his client, and we have even been in the local paper
Check out
http://revnyou.wordpress.com/2009/12/05/ron-legrands-quick-turn-real-estate-program-update-its-gettin-juicy/ ://http://revnyou.wordpress.com/2009/1...-gettin-juicy/
for some hilarious messages we`ve got from callers and to see us in the newspaper!
I would agree with most of the fellow Ron LeGrand students who have commented on their results thus far that:
a - the yellow letter has been fairly costly thus far with little to no "strong" leads
b - I can`t comment on patlive, but from our experience, we have spent a considerable amount of time on the phone trying to figure out if there is a deal or not (quicker assessment will come with experience)
c - most of the potential early leads turn out that the house needs a ton of work yet we can only get it at about a 5-10% discount
d - other early leads are either in neighbourhoods we`re not keen on OR the debt appears to be more than the house value
e - there are 2-4 possible prospects and we are still working on those deals
f - finally, we are hopeful that we have "planted the seed" with a few not-yet-prospects just by being the actual investors (not patlive). Thus, in a few months time, we will follow up with some and others may contact us again where they may now be prospects.
No question, this has been highly entertaining and educational, but not nearly (or at all) as profitable as Mr. LeGrand led us all to believe. But, the bottom line is the letters work (at least at getting responses) and persistence and hardwork will payoff. We just keep pressing "play"!
Cheers