Case Study – “Luck” is sometimes a factor

Investor Spotlight

Issue #20

Featuring Greg Baker

“Luck” + Rapport = $22.7k in this deal

 

Greg Baker is a solopreneur buying 1-2 houses a year. His business “Greg Buys Houses” has been buying off-market deals since 2019. His primary buying area is Pensacola Florida.

In this deal it shows how just consistently mailing will land you deals just because you happened to be at there at the right time. Not to neglect the rapport he had to build with the seller, but a big factor in the seller calling Greg was the timing of it all.

The Seller/Deal(s)

This was a quick and easy flip, where it only took about $4k to clean it up and list it. To rehab took replacing lightbulbs, replacing a water heater, and tree removal (the largest expense).

The seller was a recently divorced, tired landlord and the letter hit him at the right time.

Greg said this:

Essentially, it must have been timing and rapport because he had a couple other mailers from other investors (including a fellow CCF member and BPM mailer) in his mailbox when we closed.

“I used BPM’s Standard letter. It was one of the first 700 that went out. Call Porter took the call, scheduled a phone appt for me and I went to look at the deal. Made an offer over the phone, and we closed 20 days later because he had a title issue to deal with. We’ve had 2 other deals from that total mailing of just under 7K … one is in probate waiting to close, the other is in escrow.

 

The Marketing

  • How many letters sent: 7,000
  • The list: Absentee owners with equity that BPM pulled from List Source
  • Mailing piece: the Pastel Letter with cursive handwriting
  • Total deals from this mailer: 3 so far
  • Approx. Cost per deal: $3,000

The Numbers

  • P.P.: $95k
  • Rehab cost: $4k
  • Listed at: $140k
  • Total net: $22.7k
  • Approx. ROI of mailing: 797%

Marketing ROI:

 

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