Steps of a Direct Mailing Campign

[Jason Lam]

Hi BP Family,

I am a new investor looking to start out. As I live in another country looking at all the different methods of finding an off market deal most of which is not going to work for me so I decided to look at a direct mail campaign but I am trying to understand whats the best questions to ask someone who returns you call.

As the direct marketing campaign is going out to a list of about a thousand people I expect to know nothing about the house the lead is calling about. What questions do you ask? How do you get the conversation started and lead into the property? What is the next step? Do you send someone out to look at the home so you can make an offer? Do you get the lead to record video/send photos?

Thanks for your help 

[John K.]

@Jason Lam

The questions you need to ask, will depend on the type of lead it is. This will also determine the way to approach those individuals. You can't really can these answers, because people respond differently to the same situation. 

If I was following up on a property with delinquent taxes, I usually start the conversation with something along these lines.

" Hello, Mr. Smith. My name is John. I am calling/writing in reference to your property located at 1234 main st. I am not sure if it is accurate or not, but ____________ county  is reporting that the home is "X" dollars behind in taxes."  If this was a phone call I would stop here and let them talk. If a letter, I would add the following:

" I would like to offer you up to $125,368.79 for your home, which will include paying off any and all taxes, closing costs associated with this transaction, and I will pay you up to $1500 in moving expenses, if necessary."

In the first paragraph I don't want to use "you are behind in taxes", as it could come off as confrontational, so I used the home was behind. I also don't want to come off as accusatory, so I leave the door open as this being a possible county error, thus removing the shame.

In the second paragraph, I made up some weird number, because it immediately begs the question, Where did you get that number? This means they will have to contact me to get that answer. Sounds odd, but it works. 

At the end of the day this is about 2 people having a conversation. Don't overthink it, be empathetic to their situation, and you will keep that door open. If you come off as reading  a script, most people can sniff this out and you won't get very far. Let them talk, you will learn exactly what needs to happen to buy this house, if you just listen. 

Since you are out of country, you will need to develop your network locally. You will need to find someone, preferably a contractor, to actually look at the house and give you an assessment of its condition, so you can make an offer. If you are comfortable looking at just pictures/videos and coming up with repairs, then you can utilize just about anyone with a quality camera. 

Good Luck!

John