Local mini mailing campains tips. Stop waiting, start mailing!

[Jeff Brower]

I recently posted a success story on how I found my first duplex. You can find that thread 

I have many inquiries via private message and on that thread asking about he format of letter that I used to make contact with owners of multifamily properties that I found on the auditors site. I wanted to share my format in a new thread and also create a list of 10 tips to use when creating a letter for a local mini campaign. This is intended for us small investors, or those just trying to get started with a LOCAL property. We read about mailing yellow letters out to thousands of people through lists on listsource. These strategies are good for wholesalers who are trying to find many properties, but what about those of us who just want to get started with one duplex? 

Below is how you can buy $50 worth of stamps/envelopes/paper, 3 hours of labor, and simply get started. It is easy, can be done from the comfort of your dining room table, and doesn't require mass printing. I mailed out 60 letters, to property owners found on my local county auditors site. Not foreclosures, tax sales, etc. These were simply off market good solid properties that I would feel comfortable living in (as I wanted to start with an FHA house hack which requires you to move in for at least one year).

I have my real estate license as a part time side gig, so that is a part of my letter. If you are not a real estate agent, this is not a problem! Just omit any mention of that point, but you can still mention that the seller would save $ vs listing on the market because you would be dealing direct and can essentially bypass agents (if they desire, or say you have no problem if they want to be represented for safety, they key is making them comfortable). I sent out a letter to 3/4 unit owners prior to this letter which was aimed just at duplexes. Since I didn't get any good leads from my first letter on 3/4 unit properties, I lowered my search down to 2 unit properties. 

Below are 10 tips that will help you get responses to your mini mailing campaign. I received 8 responses from 60 letters, viewed 3 practical properties out of the 8 responses, and bought an awesome duplex that I am currently living in which cost less than 10k out of pocket and will provide me cash flow for life!

TIPS:

1. Mention you are not looking to buy and sell aka flip. Mention you want to hold it for a long time. Let them know where you found their contact information so they are not angry that their address may be out for who-knows-who to find. They will feel better knowing exactly how you were able to reach them.

2. Let them know that you filtered down a big list and still are interested in their property, this lets them know that you are seriously interested and aren't sending out thousands of letters looking to snag something at a low price.

3. Tell them you will pay a fair value, nobody wants someone who is going to lowball them.

4. Be personable, let them know what you do, that you are local, etc. You are local and not an 'out of state investor shark', this is to your advantage. Make this known.

5. At the end (if they are not interested) ask them to keep your business card or contact info in their junk drawer, you never know in 5-20 years from now if they will pull out your info and call.

6. Ask them (if they are not interested), if they know anybody else with a multifamily who is looking to sell. Generally folks who own 2-4 unit properties know others who do as well.

7. Hand address these for a better open rate. You can print the letter and the return address sticky label, but hand print the to address. Also sign each letter in ink at the bottom near your salutation. I printed out a standard letter, but hand wrote the individuals name at the top "Dear Mr Owner", hand signed each one at the bottom, and hand wrote the address on the envelope. When I receive a hand written letter at my home, I always open it, don't you? Use this! It doesn't take much time. 

8. Give them multiple ways to contact you, and let them know they can do it at their convenience. Email, call, or text. I would rather text someone than call, this may make them more likely to contact you.

9. If you have your license, let them know that you will be using all official broker forms. This puts people at ease. If you are not an agent, you can work with a lawyer to draft documents (or get advice from a friend agent if you have one, if you don't, then make one) if needed and let the seller know this. This step lets the potential seller know that you are not going to try to pull anything fast on them. It makes them more comfortable. 

10. Let them know that you are trying to build a positive financial future for yourself and/or your family via rental property. Many of these folks were in the same shoes in the past, and people like to help others who are vulnerable enough to mention they are new and getting started. They will be more willing to talk if they see a past version of themselves within you. This is a step that is genuine and true but many people don't want to make themselves look like a newbie. Turn it around and use it to your advantage because this is the truth!

Good luck on your mini campaign! Dropping that load of hand written envelopes in the mailbox feels so good because you know you are on your way. A journey of a thousand miles begins with one step!