We target properties that have been transferred as one of our marketing strategies. You might be thinking…so, what does that actually mean?
It means that a property’s ownership has changed but not through a traditional sale. On the deed, it will usually show a sale price of “$1, $5, $10, $100″ or something like that. Maybe someone inherited the property through an estate. Maybe there was a divorce and one of the spouses deeded the property over.
We have had some good success with the list so far. A surprisingly large number of the calls that we get are from people that own the property free & clear. And you don’t see that much these days.
There are many different types of mailings that you can do as an investor such as foreclosure, burnt out landlord, probate, out of state, etc. We used to mail foreclosure letters and bought plenty of properties from them, but there was so much competition. Each homeowner usually had a stack of investor mailings on their table when we met with them.
The transfer letter has gotten the phone ringing with free & clear property owners without a whole lot of competition. Give it a try. Just remember that repetition is the key. Mailing once is usually not enough for lasting results.