I also use Craigslist
Do you remove LLC's from your direct mail lists?
I'm new to land investing and have mailed about 4000 letters so far. I get my lists directly from the county and when I'm preparing my spreadsheets for mailings, I remove all LLCs from the list. My thought process is that a lot of the LLCs are investors like myself, or perhaps builders who have multiple properties in the area and aren't looking to sell. I want to maximize my returns for each mailing, so I thought it would be better to not send mail to any LLC and instead try to reach individual owners. Has anyone had success mailing to LLCs or have recommendations on whether or not to include them in my next mailing?
Sean Webster the way I look at this is, it depends whether you’re planning to do a self-closing or enlist the help of a title company to do it for you.
An LLC, Trust or any corporate entity requires some extra (and sometimes a lot of extra) work and documentation to verify who own the entity, that it’s still in good standing and that the appropriate people are signing off on the deed. Title companies and closing attorneys are very familiar with this and can do it easily, so if you know you’re going to run the deal through them anyway, you can find plenty of deals this way (provided it’s not a huge bank or multi-national corporation) and it won’t add any significant work or complications for you.
However, if you’re only going after super cheap deals (the kind that basically require you to self close to preserve your profit margin), then I personally wouldn’t send out to a lot of these, because they’re basically guaranteed to be more labor intensive on the closing side. That’s not to say you can’t do it, but it can increase the likelihood of making mistakes and just making the closing process harder in general.
Thanks, Seth. I think for now I'm going to remove all LLC and corporate entities from my list to keep things simple so I can continue to do self closings.
Seth Williams Couldn't have said it better myself!