The road that leads to Tax Delinquent Investment Success
I’ve discussed three types of letter that I usually write in my Tax Delinquent Investment business. What I will discuss in detail right now is what I call the 2nd type of letter. You might wonder what this 2nd type of letter that I keep talking about. This letter is similar to the simple letter (the first type of letter). Just like the simple letter, it also states that as a buyer you are interested in the owner’s property. The difference between a simple letter and this 2nd type of letter is that when you write the 2nd type of letter you are already setting a price tag you are willing to pay for, for their property. So, when you are writing this type of letter even if it’s the first time you are writing the seller, you will be including a price that you are offering them for their tax delinquent property.
You might think that this is an unusual idea. The main reason is, it would require you to do a fair amount of research on these properties. If you are sending out 500 letters you need to state a price for each and every single one of those properties. A price you are willing to offer for each and every single one of these properties. This may take a lot of work and time. Good thing about it is you will not have lengthy time to talk to the owners, they already know where you stand in terms of price offering. This is also best when you are a beginner in this business. When you are still feeling out your own individual style in offering a price or when you are still developing your skills in negotiating.
Don’t be afraid of the 2nd type of letter. Even writing a hundred letters of this kind in one county, or 3 to 4 subdivisions in a county is not difficult. As long as all these properties belong to one county only. In that case it would be easier to get the price range as most properties located in close ranges usually have very similar values. More so if the properties you are interested in were clustered in a subdivision or in gated communities.
You need to do a comprehensive research when you use this 2nd type of letter. One of the most important things you would need to find out is how much the properties in that area generally sell for. Once you have figured out a fair price to offer to the seller, then you have to remember to attach a sale agreement type of document to this letter..
So, what you are sending them are two separate documents stuffed in one envelope. The first page will be your letter of intent to buy with the price you are offering for their property. It will also state an introduction to the attached document, prompting them to reply if they are interested in entertaining your offer. That would be the second page of your mailer. This is the sale agreement you will send them. The property details should also be stated in this sale agreement. This will let them know which property you are really referring to and if they end up returning this document to you, you know it’s a sure deal.
The simple letter just states your intention to buy their tax delinquent property but I want to call this 2nd type of letter, the simple letter with an edge. Not only are you letting them know you are interested in their tax delinquent property, but you are also putting a price tag on it. It allows the seller to think that you are really serious about taking over their burden and relieving them of their tax delinquent property. Whichever you decide to use, make sure you know which type will work best to secure your acquisition of the property. When you get down to mastering that, you’re off to a great start in the Tax Delinquent Investment road.