Yellow Letter Marketing for Apartments

[Drew Eldridge]

Has anyone experimented with direct mail to Multi-family apartment owners as to which has a better response rate: typical yellow letter simple postcards or more formal appearing letters?  And response rates to mailers that appear to be individual buyers (ie. name and phone number only) vs investment groups (group name and website, etc.) in the multi space?

[Nick B.]

I sent "I will buy your apartment" letters several times and never got a response. Then I sent formal LOIs to the same people and got two responses out of 50. Both were negative but still somehow LOI made them to reply while regular letters did not.