How Timing Turned a Mailer Into a $22.7K Flip
Greg Baker, of Greg Buys Houses, is a solopreneur closing one or two deals a year out of Pensacola, Florida. His latest flip earned him $22,700 and is a great example of what happens when consistent mailing puts you in front of the right seller at the right moment.
The Problem
The seller was recently divorced and tired of being a landlord. By the time Greg's letter landed, it wasn't the only one in the mailbox.
As Greg put it, "It must have been timing and rapport, because he had a couple other mailers from other investors, including a fellow CCF member and a BPM mailer, when we closed."
The Plan
Greg sent 7,000 letters to an absentee-owner-with-equity list, pulled from ListSource, using BPM's pastel greeting letter with cursive handwriting.
Call Porter took the inbound call, scheduled the phone appointment, and Greg made his offer over the phone.
The Execution
The deal closed 20 days later, after working through a title issue on the seller's end. The rehab was minimal: new lightbulbs, new water heater, and tree removal (the biggest item on the list). In Greg's words:
"I used BPM's Standard letter. It was one of the first 700 that went out. Call Porter took the call, scheduled a phone appointment 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."
The Results
- Purchase price: $95,000
- Rehab cost: $4,000
- Listed at: $140,000
- Net profit: $22,700
- Approx. ROI on the mailing: 797%
That same 7,000-piece mailing has produced two more deals beyond this one: one currently in probate waiting to close, and one in escrow. Total deals from the mailing so far: 3, at roughly $3,000 in marketing cost per deal.
Want a Deal Like This?
A single well-timed letter turned into a $22,700 flip, and it wasn't the only deal that mailing produced. Schedule a call with our team to see what a consistent mailing schedule can do for your pipeline.
