Direct Mail advice?

[Marcel Pean]

Hi BP,

I am a new real estate investor and am currently focusing on wholesaling single family homes in DC. As of now, my budget allows me to mail out 300 postcards from a high equity absentee owner's list. I've done this 2x so far and have had little to no response even after cold calling the people on the list. 

I am considering increasing that number to 600. I know that wholesaling is about volume and finding people who are motivated to sell. My question is, is it recommended to stick with the list I am currently using or would I have a better success rate if I switched to a probate or tax sales list? I would be doing this 1x/month, so therefore I need to be efficient with my $.

Thanks in advance for any feedback!

-M

[Rhonda Shrum]

Hi Marcel! I am no expert but I am doing the exact same thing as you, and I will tell you I plan to stick with the same absentee list. I am a marketer, and you have to hit people many, many times to get them to bite. I had lunch with another investor the other day and he told me look, if YOU are mailing to them, someone else is mailing to them, too, it just matters whose card they pick up in that emotional moment when they chose to make the call. I think the magic number has been said to say 7. Now, obviously I'm an optimist and hope to hit way before that (ahahaa) but don't switch around. Stick with your plan!