There are no enchantment slugs in promoting, however I have built up a framework which comes lovely darn close. I detailed in the last issue of this eLetter about my new postcard battle. Here's an update: I sent 10,000 larger than usual postcards to one postal district. I immersed each home with my message. The absolute expense was under $3,000. We got around 35 calls, just .35% reaction. Be that as it may, I purchased 5 houses out of 35 leads on the principal mailing! The reaction rate ought to continue as before or improve as I remail to similar neighborhoods, enabling them to see my message on numerous occasions, giving my self expanded believability. In addition some the postcards will be spared, and I'll get more calls from this underlying mailing not far off. I got one out of 7 houses for sell. I more often than not get one out of 10 to 15. The expansion in shutting proportion, I accept, was an aftereffect of focusing on the correct neighborhoods and getting my whole deals message (my well known "advertorial") in their grasp... what's more, my new feature. These merchants were considerably more prescreened than if that approached a sign, grouped advertisement or a standard littler size postcard.
$145,400 IN CASH AND EQUITY IN ONLY 6 WEEKS FOR $3,000 ** Here are the genuine outcomes: House #1: This house esteemed at $134,900 repaired. It needs floor covering, paint and some trim things. Vender owed $89,000 in addition to $6,000 in back installments. I obtained for sum owed (subject to) in addition to $500, or $95,500. We have it under contract with an occupant/purchaser for $132,000 "in its present condition". We got our purchaser in with the principal month's lease, $3,500 non-refundable buy in addition to certain fixes to be done preceding inhabitance. We have a positive income. Value picked up: $35,500 House #2: Seller owed $106,000 in addition to a few back installments. I purchased for what the merchant owed (subject to), about $109,000 with $3,000 down. The merchant utilized the cash down to get the advance current. House required floor covering, paint, grass in front yard, rooftop (unexpected.oops!) and some misc. fixes. The house did not sell rapidly "as may be" so we are setting it up. It is offered available to be purchased for $144,500 repaired. The fix costs are $12,000. In view of rooftop, this is a tight arrangement on a fixer upper. Value picked up: $23,900 House #3: Seller owed $94,000 on a first, $10,000 on a second and $6,000 falling behind financially. We buy for the $110,000 owed subject to. After fixed esteem is $159,500. It needs $15,000 in fixes. As of now being offered at the after repaired cost, "tolerating offers in its present condition". We made up the back installments and satisfied second with money created from purchasing house #5 beneath. Has not sold as is yet so we are going to recovery. Value picked up: $34,500 House #4: This house is fit as a fiddle and esteemed at $157,500 with terms. We assumed control over a decent $110,000 first home loan subject to, put $2,000 down and the proprietor conveyed back $20,000 without any installments or enthusiasm, due in 5 years. We held a "round robin" open house for one hour and found an inhabitant purchaser with $5,000 down in addition to the primary month's lease. We had it cleaned and the rug extended. We additionally burned through $500 repairing the front yard. As a result of the $20,000 (conceded initial installment," we have a decent positive income. Value picked up: $25,000 House #5: Valued at $165,000-$170,000. It is available for $179,500 with terms. My office may have sold it yesterday for $10,000 down to an occupant/purchaser. House is fit as a fiddle, decent neighborhood. Proprietor purchased for little girl and it had been empty for 4 months without being promoted. He owed $18,000 on a first home loan. I offered him $63,000 money and $90,000 in 5 second home loans verified by 5 unique properties including his home, 3 of the houses above, and one of my "guardian" investment properties. Terms on his value is 6% aggregated intrigue, no installments, multi year call and the privilege to substitute guarantee. He is a resigned military officer and did not require pay but rather needed enthusiasm on his value. I got another hard cash credit for $123,000 at 11% and left the end table with $60,000 money(!) less shutting expenses. Value picked up: $26,500 Complete value picked up on 5 houses: $145,400 Cost of mailing: $3,000 (Superior to the securities exchange?) The expense per bargain for promoting is $600 per house, higher than my normal $350. In any case, I addressed less merchants, saw less houses and can EASILY rehash as regularly as I need, anyplace in the nation!