Does anyone mail all equity homes in their area?

Question

Curious if anyone has had success mailing to all equity homes in an area. This would include all forms of extra motivation (divorce, pre-foreclosure, etc) but would also include many people who don't really fall into these categories, and simply have equity. Has anyone had success simply mailing to all equity owners, or do you need to specify the list a little more?

Mark Wolffer · Answer

I'd have to agree with Adrien....but I'd add additional filters. Since you are looking for those that may have a motivation to sell.  Since we have co-reg files we can look to see who has registered at payday loan sites in a given month ( a predictor of tight finances). We then take our other national list and get owner occupants over 55 or 65 with great equity and also filter out couples so that the address only has one person living in it ( they may need to downsize after the death of their spouse ).

Adrien C. · Answer

Initially I used the filter to narrow the list to only individuals and it was a great list. However, I wanted to expand my list and by going county-wide, I was only able to get my list up to about 800 (population of 325K). I removed the couple filter took age from 55 to 45 and got that list to 7000. It's probably not as "hot" a list as it could be but the 2 deals this year are from individuals that wouldn't have been there with our original filters.

Lucas Howes · Answer

Great to hear. Im currently mailing about 2000 a month, but in my area unless I loosen up my criteria I just cant get enough deals. Closed one and working on the second, but while the mail has paid for itself many times over, Im only getting a deal every 3 months or so with what I send out

Adrien C. · Answer

I mail an owner occupant equity list. I add 2 additional filters: 10yr plus in ownership and 55yrs old or over. I get a lot of annoyed callers but I land 1-2 deals per mailing (7000 pieces).

Does anyone mail all equity homes in their area?

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