What types of lists yield the best results?

[Dustin B.]

What type of lists have been the most successful in finding deals? (Ex: absentee, vacant, probate, utilities, taxes, etc?) Have mainly been buying through wholesalers with a few off of bandit signs but deals arent coming as quick as i’d like to be moving. Working on marketing to speed up acquisitions for my 2022 goals and appreciate any advise!

[Michael Zane]

I've had success running a DIY direct mail marketing campaign. As silly as it sounds, I send out letters to the owners of multifamily and potential fix and flip properties, and then I simply wait for them to call me. The response rates on campaigns like these are typically below 10%, so it's all about sending a large enough volume of mailers to generate responses. Some people use postcards because they are less expensive, but I use letters because I like to introduce myself to the reader. I build out my own, targeted lists in the towns where I operate (NJ-based) because I feel that I know these areas better than any list provider.  It take a lot of time to build and maintain lists because it requires driving/biking/walking around my target towns or spending ample time on Google Street View.  I also have to keep track of ownership changes over time.  It's hard work if you're doing it yourself, but I can attest that it works.

I'll also add that there is a whole science around letter and envelop templates.  As you ramp up the volume of mail pieces that you send out, it becomes possible to study what works best in your market.

The key skills needed to do this are pretty straightforward - Excel for building a property database, Word to create letter and envelop templates and do mail merges, Google Street View, and property tax records to gather ownership information.