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Updated over 6 years ago on . Most recent reply
Identifying targets for mail marketing out of state
Hey guys,
I'm sure this question has been asked before in one form or another but I'm unable to find a relevant thread. Sorry if this is a repeat.
I've been studying mail marketing methods, I understand the methods, format and system, but I'm missing the first tile in this domino effect. How identify the targets.
I keep hearing, "Oh, its all online", "Its all on public records", which is great news but still far too generic for me to take action on. I tryed using ListSource, but I'm not entirely sure what cross metrics would identify a motivated seller, and at a minimum of $50 a pop, it can become expensive to tinker. I have a full time job and I'm in an inflated market (LA), so driving for dollars is far form ideal . I'm trying to identify targets out of state.
Can anyone help guide me with actionable search criteria and specific websites?
Thanks!
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#1 Marketing Your Property Contributor
- Flipper/Rehabber
- Bakersfield, CA
Originally posted by @Dori Arazi:
Hey guys,
I'm sure this question has been asked before in one form or another but I'm unable to find a relevant thread. Sorry if this is a repeat.
I've been studying mail marketing methods, I understand the methods, format and system, but I'm missing the first tile in this domino effect. How identify the targets.
I keep hearing, "Oh, its all online", "Its all on public records", which is great news but still far too generic for me to take action on. I tryed using ListSource, but I'm not entirely sure what cross metrics would identify a motivated seller, and at a minimum of $50 a pop, it can become expensive to tinker. I have a full time job and I'm in an inflated market (LA), so driving for dollars is far form ideal . I'm trying to identify targets out of state.
Can anyone help guide me with actionable search criteria and specific websites?
Thanks!
Good to meet you sir...
Out of state markets can be tricky however somewhat easy to identify.
I would start here. It is a list of the major cities in America.
From here I would click on a city of interest. For this exercise lets choose Bakersfield. The link is going to take you to page that will show you that Bakersfield has a median value of 225,000 and a median rent roll of 1425.00.
With this info then use a mortgage calculator to determine if the rent roll is in line with the mortgage expense.
You'll notice that 225000 at 3.88% is 1058.00 a month. So I would market to it..
Now as to who to market to..
Notice on the median value page the 1 and 2 bedrooms are doing much better than the 3 and 4 so I would pull the following list.
SFR
30-100% equity
1-2 bedroooms
1 year or older ownership
Current home value to 225,000
Trusts and Corps okay
Absentee OUT OF STATE
Absentee OUT OF AREA
That will pull a result of 1581 however once I get the list I will remove any owner within 150 miles of the property...