I sent my first round of probate letters out on Wednesday. I got a call yesterday, but it was vacant land, and the personal rep. wasn’t ready to sell. But there’s a 2% response rate and counting!
I managed to send 50 letters, and hope to send 50 more next week. It’ll be a doozy, since I have to also RESEARCH MYSELF those 50 leads. Ick. Outsource, outsource, outsource. That’s my goal as soon as I get my first deal.
I’ve also been talking more with another team of investors about partnering up. (Doesn’t that sound dreamy for a new, green, wholesaler?) I’ll see where this goes.
I also took a trip up to the courthouse to research evictions. Of course, there was no “list” (they always say that), and directed me to their computer to do research. It was the same website I get on at home, BUT the lady showed me a unique way to search for probates AND evictions that will save time.
EXCEPT, I get home yesterday and , lo and behold! The website is fixed, and now it’s easy to search by case type. Do you remember that the leg up I had on everyone is that, despite a glitch in the website, I figured out how to effectively get my probates from it? Well, scratch that. I have no edge anymore. Well, perhaps I do in that I’m actually researching it. I’m not sure how many other investors are actually doing this. I’d love to know.
My goals for next week are:
- Perfect my probate lead-gathering system and WRITE IT DOWN (for future outsourcing)
- Research 50 evictions. Send postcards to all.
- Research and send 50 probate letters.
I’m really staying optimistic about my marketing. If it’s all a numbers game, then I’m staring at the numbers right now: With a 5% response rate, 100 probate letters will yield 5 callbacks. I’ve heard that it can take up to 20 leads (callbacks) to get 5 real prospects and 1 deal. If that’s true, and I keep up the pace, then I should have a deal in two months!
Have a great weekend!