Direct Mail Marketing: Trying Other Ideas To Get Leads

[Winston Spence]

From reading the forum and understanding what other investors are doing to get responses from direct mail. It seems like a majority of members on BP are using yellow letters. Yellow letters seems to get a higher response rate then a postcard, but a postcard is cheaper allowing you to send more. My question is if a high majority of investors are using yellow letters, wouldn't it be idea to try something different. Any members on BP use anything different besides the standard yellow letter and got results? Please share so other new investors don't waste money doing what other are already doing. Thanks!

[Michael Quarles]

@Dev Horn 

I wasnt referring to ALL OO, just those who qualified... And door hanger are good if one of two or both things are happening...

1) You are hanging them around the doors of your appointment... 

2) You hire them to be hung... If anyone thinks they will consistently hang their own door hangers they are crazy... However when hung for you it makes sense... However when you do have them hung make certain that you REQUIRE the hangers to note all of the vacant houses and report that list back to you. To find the hangers driver your market and look for business cards stuck to a door then call those business and share the cost of hanging or at the very least find out their hangers number... Looking for business cards will also tell you vacants as you notice the pile of free periodicals pile up.  And the best day to hang door hangers will be saturday...

As for EDDM it isn't a solution yet... Its coming soon but not yet as the number of true prospects don't make the cost worth the investment.

I have researched EDDM so much to come to this conclusion it isnt funny. 

And your cost are high... Postcards are .36 cents and letters are .77 cents. 

As for LLC/Trusts, yes a small amount of trusts will have inherited concerns. Heck everyone alive with equity is a prospect however when weighing the costs I just don't see LLC and trust as viable.. Heck I would sell more mail if I promoted them so maybe I should take the position of self promotion and make more money... I just cant..

@Winston Spence 

That answer is a long friggin answer.  I must state that I dont wholesale. I don't think anyone should and nobody would if they either had the money to purchase, time to purchase, or understood how to purchase with no funds of their own. Wholesaling is the most expensive form of real estate investing period... Finding the "Deal" is worth more than the fee most investors accept.. Finding the deal is the deal... 

Besides the word "wholesaling" is so misunderstood. 

If someone gave me an hour to explain to them how to sell retail without exposure they would never wholesale a deal. Ever.. 

As to your question. Maybe Dev and I will get together soon and do a podcast together, maybe invite Jerry and have a round table on Skype for people to watch and ask questions or something... That would be cool.. Listen to three different perspectives...