Breakdown of Closed Deals in the Past Year

I’m one of those dorky people obsessed with detective novels.  I love a great mystery and all that.  (My absolute favorite is the Lord Peter Wimsey series, by Dorothy Sayers.  If you like mystery, read this!)

I look at my marketing as a mystery to be solved.  I’m constantly trying to figure out the perfect marketing strategy, and I’ve learned that you never know when a piece of information that initially seems irrelevant turns out to be critical in discovering the truth.  So I try to collect as much data about my campaigns as possible.

In that spirit, I’ve come up with a breakdown of the 5 deals I’ve closed in the last year.  You can take a closer look below.

My Impressions:

  • Follow Ups Matter: 4 deals out of 5  received 2+ letters from me before they called.
  • Are spring and fall busier times than winter and summer?
  • Are older sellers (50+) more motivated than younger ones?
  • Free and clears might be a better criteria for my absentee owners, rather than out of state with equity.
  • Are Absentees better than Probates? 4/5 deals closed were absentee owners
  • Vacant houses are gold.
  • I wish there was a way to know about problem tenants before the eviction process.

What do you think?  Am I missing any key pieces of information that could be important?  Which information do you pay attention to?  What have you noticed when you’ve looked at trends in deals that you close?

#1 Barclay House
3/1/1 in solid middle class neighborhood
ARV 100k
Repair level: moderate cosmetic
Seller demographic: single, female, age 50+
Seller motivation: desperate
Seller circumstances: moved out of state for job 5 years ago
Seller financial situation: not in default, but close to it, mortgage of 60k
House situation: occupied by “squatting” tenant buyer
Exit Strategy: Executed L/O then executed option and sold to investor
Mailing List: out-of-state absentee owners with equity
# of Mailings before calling: 2
Date called: 3/23
Date of closing: 4/25

#2 Elmview House
3/1.5/2 in lower middle class neighborhood
ARV: 75k
Repair level: full cosmetic
Seller demographic: son of owner, a widow
Seller motivation: motivated (difficult to tell)
Seller circumstances: father passed, mother moved out of state to live with son
Seller financial situation: owned free and clear, some city code violations
House situation: vacant and vandalized
Exit Strategy: Wholesale (double closing)
Mailing List: probate
# of Mailings before calling: 2
Date called: 8/1
Date of closing: 9/24

#3 Beech House
3/2/2 in middle class/upper middle class neighborhood
ARV: 115k
Repair level: none, completely remodeled
Seller demographic: married, mother of previous owner
Seller motivation: Very motivated
Seller circumstances: Bought house for son, who was injured and unable to make payments
Seller financial situation: owned free and clear
House situation: Currently occupied with long term tenants
Exit Strategy: Cash offer rejected, owner finance offer accepted
Mailing List: Out-of-state absentee owners with equity
# of Mailings before emailing: 1
Date emailed: 6/4 then 7/25
Date of closing: 9/25

#4 Toledo House
2/1/1 in middle class neighborhood
ARV: 110k
Repair level: moderate cosmetic
Seller demographic: widowed, age 80+
Seller motivation: Very motivated
Seller circumstances: Long term absentee owner, unable to take care of house, with bad property manager
Seller financial situation: owned free and clear
House situation: occupied by non-paying tenants (grandsons of “property manager”)
Exit Strategy: Cash offer rejected, owner finance offer accepted
Mailing List: Out-of-state absentee owners with equity
# of Mailings before calling: 5
Date called: 10/1
Date of closing: 11/4

#5 NW 17th House
3/1/1 in middle class neighborhood in transition
ARV: 100k
Repair level: full gut rehab
Seller demographic: married, age 60+
Seller motivation: Motivated (difficult to tell)
Seller circumstances: co-owner of childhood home with sister, who had a stroke
Seller financial situation: owned free and clear
House situation: vacant, a hoarder house that needed bio-hazard clean up crew
Exit Strategy: Wholesale (double closing)
Mailing List: Out-of-state absentee owners with equity
# of Mailings before calling: 5
Date called: 10/24
Date of closing: 1/7

Advertisements

5 Comments

Filed under Deals, Education, Marketing, Planning

5 responses to “Breakdown of Closed Deals in the Past Year

  1. ryan

    Congrats on all these! Hey can’t find your email on here. Can you send a copy of your property information sheet to me? thirteeneleveninvestments at gmail dot com. Thanks!

  2. Pingback: Yellow Letter vs. Professional Letter vs. Postcards | Flipping Oklahoma

  3. Sam Weaver

    Can I get a copy of the property information sheet too please? weavsam@gmail.com

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s