I am planning on doing my first blind offer blast to a county I have interest in! Exciting, but daunting stuff.
The county I want to work in, however, has cities that all differ rather significantly in terms of vacant land market values when looking at what’s been sold over the last year.
I’m using DataTree to pull the types of land I want from this city, but about 75% of the parcels don’t have a situs address so I’m unsure what city/area each parcel belongs to, thus making it difficult to assign a proper offer to the entire county list. If I filter out those parcels and only send my offers to the 25% of vacant land properties that have a situs address associated with them, will I likely have a lower success rate with this cohort in terms of responses?
TL/DR: What I guess I’m trying to say is that when there is a “situs address” associated with a parcel of land, have any of you found that those properties tend to have less motivated sellers or is it mostly just random and that is a factor that won’t really matter?
@achokshi12 I know what you mean! It does seem daunting, especially on the first go at it… but props to you on getting as far as you have.
I don’t think I’ve ever seen a direct correlation between the existence (or lack thereof) of a site address and the seller’s motivation to sell.
Based on what you’re saying, I can’t help but wonder if something like PRYCD might be useful to you. It doesn’t solve all problems… and it could even lead you astray if you blindly trust whatever it tells you, but still, there may be something there worth checking out.
I put together a HUGE video and blog post about it a little while ago, if you want to learn more about what it does: https://retipster.com/prycd-review/
@retipsterseth Thanks Seth! I’ll check out PRYCD - I think that could be a perfect solution for me moving forward.
As an aside, I think this could be ill-advised for my first blast out (going a little outside the tried and true methods), but I’m going with blasting out offers on a postcard (sort of the blended approach vs. postcard neutral or 1-2 page offer letter). It’s just going to be an offer number with a disclaimer that the “final offer” with purchase agreement may be different. I’ll report back here in the thread that another gentleman started on that and let you know how it went. Feeling slightly pessimistic but ready to try and revise until I get something that works. Thanks!!
@achokshi12 you could also try a “range offer” approach on your postcards. Something to the effect of,
We are paying between $X - $Y for properties like yours in this area right now.
X = Low-end blind offer price based on acreage
Y = High-end blind offer price based on acreage
This way, you’re not really committing to a specific dollar amount and you can adjust your final offer downwards once you start digging into your due diligence and figuring out what’s wrong with the property (because there will always be something).