Best Way to Sell Property: Postcard Input

[Lynne C.]

Hi everyone,

Really need some advice before we plunk $1900 on advertising.

I'm looking to use EDDM (every door direct mail aka presorted standard, I think) for the first time.  I'm looking to send about 5600 6.5"x9" postcards to various areas in Southern Louisiana and I was hoping that the BP community could give some insight as to how successful this would be.

This is what the postcard looks like (front/back), and it ends up costing around 33 or 34 cents a postcard.  I just have a hard time trying to figure out what works in Louisiana since it's such a huge potential investor community.  

My heart kinda hurts when I think of $1900... It's so much money on a huge gamble.  But we don't know how else to do it since we've seen places on the market for months at a time out there.  We are out of state investors with family ties to Louisiana and we're  trying to buy a bigger home where we are since our family just grew (yay!), BUT the real estate market where we are is crazy, so in order to have a chance to compete, we need a bigger chunk of change as a down payment.  If you have any suggestions on what works in Louisiana (or if you have any updates on my postcard that you think would catch people's eye), please please let me know.  Open to any suggestions!!

Thank you all so much in advance--

Lynne

[Michael Quarles]

Originally posted by @Lynne C.:

Hi everyone,

Really need some advice before we plunk $1900 on advertising.

I'm looking to use EDDM (every door direct mail aka presorted standard, I think) for the first time.  I'm looking to send about 5600 6.5"x9" postcards to various areas in Southern Louisiana and I was hoping that the BP community could give some insight as to how successful this would be.

This is what the postcard looks like (front/back), and it ends up costing around 33 or 34 cents a postcard.  I just have a hard time trying to figure out what works in Louisiana since it's such a huge potential investor community.  

My heart kinda hurts when I think of $1900... It's so much money on a huge gamble.  But we don't know how else to do it since we've seen places on the market for months at a time out there.  We are out of state investors with family ties to Louisiana and we're  trying to buy a bigger home where we are since our family just grew (yay!), BUT the real estate market where we are is crazy, so in order to have a chance to compete, we need a bigger chunk of change as a down payment.  If you have any suggestions on what works in Louisiana (or if you have any updates on my postcard that you think would catch people's eye), please please let me know.  Open to any suggestions!!

Thank you all so much in advance--

Lynne

Good to meet you.

It is always tough when you ask for advice as you also must be prepared for the answer. 

I too would say EDDM for what you're wanting isn't the way to go. It's great for pizza and hair salons however not selling a specific piece of real estate.

I would however send a postcard to the following list of property owners. There are about 400 addresses.

It is compiled of all 5-500 unit owners who own property in Louisiana and who have bought within the last 11 years. Notice that the list also shows the people who own multiple locations. They are your prime prospect. 

List

With all of this said a Brokerage may be a better way to go. In the multi-family market getting your property on Loopnet is key...