My first direct mail experience

[Tyler Vinsand]

Hello BP community,

While driving around my area, I came across a 3 bed 2 bath house with the ideal characteristics of a home to target with direct mail: overgrown grass, stained vinyl, crinkled blinds in the windows, etc. This is one of the most expensive parts of town so I was thinking this could potentially be a very profitable flip even though it is not currently listed for sale. Therefore, I was hoping I could receive some guidance from the BP community on the specific how-to's of direct mail. This is the only house I would be sending direct mail to, so the time, money, and effort in writing a letter is not something I'm worried about. 

I'd love to hear your thoughts on what kind of mail typically works best (typed letter, handwritten yellow letter, postcard, etc.), how can I quantify the amount of repairs the house is going to require (I have an idea of the ARV by looking at comps in the area, but I wouldn't know what to offer because I haven't seen the inside of the house and don't know the repairs required), and any other advice that you may have. I thank you all in your advance for your help; I truly appreciate all input!

Thank you,

Tyler

[Jonathan Holmes]

It’s fairly common for me to be asked what I’m willing to pay over the the phone. I usually say that’s I need to take a look at it to really make a determination. I then will list all the potential things that may affect the price and ask what they would like to get out of it. That gives me a starting point and often will tell me if we are just way to far apart.