I have sent out two mailers in the past month and so far I haven't gotten any deals. However the second mailer I sent out got a much better response rate it was full of people looking to get almost market value for their property. I tried two completely different locations in both of my mailers.
The people that I mailed to each time have all said they have received mail/offers from a number of different people already.
Is anyone else finding that this is the case for their area or have I just picked two bad areas?
@Tyler_Harris, I think you mentioned in the other thread that you were pulling your list from AgentPro247, correct? If so (or any other third party data source), what filters are you using to try to increase the likelihood of seller motivation, beyond just out of state or out of county? For instance, did you try filtering by what the owner paid for the property, or how long they've owned it? I tend to think of it this way, if someone acquired a property pretty recently and paid a lot for it (relative to current market value), that guy's probably gonna be way less motivated to sell to me, at a price I'd be willing to pay, than someone who acquired a property for peanuts and/or has been sitting on it paying taxes for a long time. Speaking in generalities, obviously.
This is why I really liked having previous-sale data in my lists for my first few mailers, which I grabbed straight from the counties. I was able to go through the list pretty quickly and cut the ones that I was pretty confident wouldn't be as receptive to my offer, and just mailed the ones left behind. I don't know about AgentPro247 but DataTree lets you filter some counties by the last sale price. You just can't see the actual sale date or price of any property unless you pay for the detailed property report, which is definitely not cost effective to do at the initial list building/filtering stage.
There seems to be an up-tick in entries of new investors in the land business. However, they are focused on certain markets like AZ, CO, FL. There are still plenty of deals to do and markets to mail, just keep testing. I have actually been doing really well lately in a market that no one every talks about or recommends but seems to be producing killer results for me. This week I advertised a property and sold within 10 minutes and the buyers actually bought another property as well off my site that I hadn't even advertised in.
The sellers where also glad to be getting rid of their properties here and at first I was reluctant to invest. Now I am mailing like crazy. Sometimes a trial run with a couple of properties is all you need to really get a feel for the area.