Creating your own lists

Chris Balestriere · 2016-09-23T09:33:09-07:00

Hello BPers,I've built many lists (pre-foreclosure, absentee, probate) and am in the beginning stages of send out mailings to them; testing out the waters to see if these hand made lists work. I have found some success (leads that we have and are still perusing), but no deals. I know it is still early in the game and I don't EXPECT it to work out so soon (First mailing was to about 500 in May, so we haven't been at it too long, have done only 2 other mailings since), but I want to make sure my lists are on the right track. My question is: how are people out there (specifically in Connecticut, but anywhere will help) either creating and coming up with lists that find success and bankable leads? Or are most buying lists(from list source or anywhere else)? I've obviously heard of list source, which everyone uses (but I'm not really interested in recycled lists that others are mailing to already). I've also heard of people going to the source at city hall or the probate court and asking nicely ( I plan to make my first trip today), but are there any other people out there making their own lists and finding success. If so, how? What techniques are you using? Any creative ideas are welcomed and I am happy to share my experiences with other curious list makers.Sincerely,Curious Marketer

Pat McCandless

Newington, CT · Member since 2016 · 106 posts · 20 votes

10y

Hi Chris,

I haven't done any marketing yet, but have heard of going to city hall/probate court and obtaining potential leads there. What have you heard about this option, and what exactly do you say/ask for? Who do you even go to and ask?

Pat

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Andrew Michael

Lender · Frederick/ Falls Church DC, Maryland & Virginia · Member since 2014 · 794 posts · 612 votes

10y

Was the list you mailed to in May the same list you mailed to the other two times? How many calls do you receive during each campaign? How many times are you touching each lead? What is your follow up method with each lead?

A lot of times what I find with wholesalers is they mail one campaign and then don't get any deals and think their lists are bad. In actuality the problem is usually with their marketing approach. Also they have no plan or system in place to vet and follow up with phone calls and potential deals.

Last week I got two contracts. Both properties had received several mailers. I got the contracts because I answered my phone, was attentive, acted fast, and stayed on top of the lead.

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Chris Balestriere

OP

Norwalk, CT · Member since 2016 · 22 posts · 11 votes

10y

@Pat McCandless I am trying to figure out the same thing, I'll try and let you know when I find out. I assume you go to the probate court or department and ask if they have a probate list that you could look at it. It should be public information. Same with the foreclosure list, not sure yet what part of city hall to go for that yet, again, I have to just do it and see what comes of it.

@Andrew Michael I've mailed to the same list twice and the second time is when we got the most response. We received about 5 calls from the second mailing of that list and immediately followed up. We plan to hit all lists multiple times before creating new versions of the list. I am not saying my list is in any way bad or that I don't plan to mail to them anymore; I am just here to see if others are doing something similar or if there is any experienced advice on the topic. As far as following up, that hasn't been a problem, we are keeping in close contact and visiting all the leads if they are willing, and they have seemed hopeful until they weren't anymore. They are too long of stories to tell right now, but long story short, we have definitely followed up and definitely have gotten as far as we know how. We did exactly what you are saying, the leads were just too far along in the pre-foreclosure process or hadn't gone through probate yet. This leads me to wonder if these lists are hitting the wrong type of people. What are your list creating or list sourcing methods? You haven't mentioned anything about it, that's what information that I would most like to hear about.

Thanks for the response, gentlemen!

Chris

1 Reply

Andrew Michael

Lender · Frederick/ Falls Church DC, Maryland & Virginia · Member since 2014 · 794 posts · 612 votes

10y

Got it. I was just making sure but it sounds like its only a matter of time for you.

I use several methods. Anything any everything to get my name out there. I buy lists, door knock, have bird doggers, take referrals, post signs, network non stop, use facebook, door hangers, talk to postal workers, talk to contractors, talk to neighborhood kids, skip trace properties, talk to lawyers, talk to bankers, etc.

Direct mail is great but it should be one of many tools in everyone's toolbox.

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Chris Balestriere

OP

Norwalk, CT · Member since 2016 · 22 posts · 11 votes

10y

@Andrew Michael Excellent! Thank you! We definitely are working on different methods of marketing including: calling expired listings, social media, blogging (building multiple sites for our business), craigslist, putting up ads in the paper, bandit signs, networking always. Right now, we know that direct mail is important, so we want to master that and do it as efficiently and cost effectively as possible. How do you go about skip tracing? That is a new one I've never heard of (but looked it up when you mentioned it).

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Andrew Michael

Lender · Frederick/ Falls Church DC, Maryland & Virginia · Member since 2014 · 794 posts · 612 votes

10y

I use 2 different companies TLO and LexisNexis.

My primary use for them is pulling information on addresses I find when driving for dollars. Often times abandoned home owners prove difficult to track down so a skip trace is literally a paid service that will pull up their address history, phone numbers, emails, current addresses, financial information, family info, friends, info, etc. From there you write letters, call family and friends until you are able to get a hold of the home owner.

1 Reply

Rick H.

Lender · Greater LA/Orange County area, CA · Member since 2012 · 3k+ posts · 3k+ votes

10y

You are creating what's known in the direct response marketing world as "cold lists."

In essence, these are static lists of leads that appear in certain categories. They are called cold because they don't know you from Adam and may have no reason to response. It's merely aggregated data.

Response lists are those who have previously responded to your marketing or that of another marketer's.

You're attempting to do lead generation in what may be a saturate market. The low hanging fruit may be long gone and you are sending out pieces that say "hello world, look at me!"

But nobody cares. Probably because you either have crappy lists or a crappy message that doesn't convert or deeper issues in your funnels.

Do not dispari! You can fix this. I would begin by getting better lists and you do this by segmenting your aggregated data into smaller lists.

For example, I like people with multiple problems...problems that they cannot solve but I can! One of my favorites that I customize is "in foreclosure, pre-probate, litigation pending." Now, you won't find thisf from listsource or one of the Costco-type list providers; you have to build it your self.

I suggest you look for triggers...multiple catalysts thst cause people to want to become predisposed to budiness with you (and you alone because of your expertise, as I've discovered and mastered).

THEN you get to work on your sale funnel(s), response rates, measurement and conversion, etc.

This is what separates the 'playtime' marketers from the pro's.

1 Reply

Chris Balestriere

OP

Norwalk, CT · Member since 2016 · 22 posts · 11 votes

10y

@Andrew Michael That is great information to have in this business! Thank you for the company suggestions, I WILL be using them in the future! If I am ever in Maryland, I would definitely love to grab a drink and pick your brain! Until then, happy investing!

@Rick H. I read a lot of BP threads and you always seem to have great advice and tell it how it is. My partner and I have spoke about building lists separately and then comparing them side-by-side to do exactly what you are suggesting, we just haven't gotten there yet, but we will! Any suggestions on how to grab the "low hanging fruit" you speak of? How do you get there first? That has been a huge topic of discussion between my partner and I. My conclusion was networking, knowing the right people; which takes time in the business. That is actually what prompted me to start this discussion on BP. For now, if we do not have a good way to grab those easy deals, we want to at least be hitting the best lists possible. The question again is, what is the best or most efficient way to get those lists? If it isn't efficient and takes some time, but is worth the effort, I am TOTALLY open to suggestions. But for now, going to city hall and building lists and acquiring off the MLS will be our main list acquisition methods. If I am ever in California (I am way over due for a visit) and I am in your neck of the woods, I would literally go out of my way to meet you. Seems like you would be an interesting person to learn from! Thanks!

@Pat McCandless I went to City hall in the afternoon yesterday and after going to the probate court section (and getting turned down, cold), then going to the tax assessors, getting redirected to the tax collectors and finally getting redirected to the city clerk's office; I felt like I struck gold! (In my city hall at least) They have computers with all the public information you could ever want. Some cities have this system online, so you can access it from your home. You have to go through everything manually though. I'm going to give it a shot and make a list from this to see if it works, hopefully it wont be a waste of time, but at least it will be educational! I hope this helps, best of luck!

1 Reply

Pat McCandless

Newington, CT · Member since 2016 · 106 posts · 20 votes

10y

@Chris Balestriere so you went to the city clerks office and asked for a list of properties in private and they told you that information can be accessed on their computers that you can use?

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Chris Balestriere

OP

Norwalk, CT · Member since 2016 · 22 posts · 11 votes

10y

@Pat McCandless In my town, I went into the city Clerk's office and asked if they had lists of tax leins. The girl gladly directed me to a row of computers IN the office that I could sit at and access any public information my city and others have to offer (she gave me a short tutorial, but it is pretty easy to understand). I plan to go back tomorrow and just sit down at one of the computers and make a list (after I say hi to all the ladies that work there and give them some doughnuts). Not sure what your city has to offer, but it is worth taking a drive down there and asking.

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Creating your own lists

Creating your own lists

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