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Updated over 7 years ago,
Direct mail marketing to low equity owner-occupants
Hi! I'm about to try direct mailing to a list of owner-occupants with 0-10% equity who financed within the last four years. I'm hoping to find motivated sellers in difficult mortgage situations where I can offer "subject to".
I don't want to reinvent the wheel too much with my approach, but I think the usual message of "I will buy your house" would be a bait-and-switch since I don't have the cash on hand to do so.
So, I'm considering using a more specific message along the lines of:
"Is your house a headache? I will take over your mortgage. You transfer the deed to me, and I make your mortgage payments every month until it's paid off. You can walk away from your house, and your credit score will be unharmed. No closing costs. We both come out on top. Call Destin at xxx-xxx-xxxx"
I'm curious to see if a more targeted and honest message returns a higher quality of responses, but I could also imagine it scaring too many homeowners away. I'd love to hear if anyone has tried something similar, and what advice folks might have.
Thanks!