Direct mail

[Donny Minor]

If I wanted to wholesale 5 houses from absentee owners approximately how many letters would you have to send out I understand there are many variables but I've been told that numbers don't lie and I'm sure there's some kind of average out there I was just wondering  the opinions of the BP community?

[Jill DeWit]

Our experience has been that for every 1,000 SFR offers, you can expect to buy 1 house. So 5,000 direct mail offers, should yield your 5 target houses.

step 1 - area, size, purchase price in your range (all that research). Spend a full day on this.

The rest of this can be done on a Sunday afternoon:

step 2 - pull a list of exact sellers you want to mail to. For example, 3/2, zip code xxxxx, subdivision, lot size x, assessed value between x-y, no mortgage or less than x %, etc.  You download a report in an easy spreadsheet with owner name, address, and all property detail. (See images for a snap shot of what is available and search criteria list below really spells it ALL out.)

step 3 - scrub your list to remove duplicate owners, government agencies, anything out of ordinary

step 4 - "mail merge" list into your ready to go offer letter to purchase. (make a sincere, realistic offer and included your closing agenda)

step 5 - use a cheap, industry specific printer (we spend less that the price of a stamp to get the whole thing printed and mailed)

step 6 - wait for signed offers to come back and pick the best ones to purchase! Or put them under contract and pass the deal to your ready to go flipper and charge them $10k per deal like we do. 

You should be buying at way less than "market value" so everybody wins!