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Updated almost 12 years ago on . Most recent reply

User Stats

55
Posts
26
Votes
Yu L.
  • Bay Area, CA
26
Votes |
55
Posts

need critique on my direct mail marketing system

Yu L.
  • Bay Area, CA
Posted

I need help to improve my marketing system to generate
more deals. I learned this system from my mentor,
he is able to generate 3-12 deals per year using
this system, after trying it out for the last 2.5 years
and average 1 deal / year, I believe I need to modify
the system drastically in order to get more deals. I am looking for properties to flip, profit in each deal needs to be $50k or more.

Here is the old system:

I have been consistently sending out roughly 1500 letters
to absentee owners.
(letters with hand written envelope and signed).
I have list of nearby cities that I target, I'll run
through the list every 6 months. i.e. the absentee owners
will get my letters roughly every 6 months.
(My targets are SFR absentee owners who have owned for over 12 years
and didn't re-fi in the last 12 years)

I have revamped my system a bit this year
and the new campaign kicked in since April.

Here is my new system:
This year I also market to condo / townhouse on top of SFR.
For far away (>2 hrs away) absentee owners,
I mail them monthly instead of every 6 months.
(However, for absentee owners within 2 hrs distance,
I still mail them once every 6 months, I also eliminate absentee owners who
live in the same city of the subject property.)

I am marketing to the following groups as well:
-people with federal or tax lien
-delinquent property tax
-landlord filed eviction
-divorce couple
-probate
-inheritance list

I am sending out 2000 - 2500 letters each month.

I have found a little success with the modification,
I am in contract with a lead I got from landlord who filed eviction.

My goal is to improve my system so that I average 1 deal or more per month eventually.

My focus is target marketing (that's why I eliminate landlords who live
in the same city of the subject property, I believe those are low potential leads)

Any suggestion would be welcome.

Thanks in advance!

Most Popular Reply

User Stats

23,418
Posts
13,509
Votes
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,509
Votes |
23,418
Posts
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

It's not realistic to expect $50k profit on a wholesale, or a buy/no rehab/flip, certainly not on each one.

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