Who Should I Mail To?

Question

Hello everyone,I would like to get started on a direct mail campaign but I'm not sure who I should start mailing to. I know that there are a number of list that I can choose from such as absentee owners, probates, evictions, and tax liens but I'm not sure on how to determine which list to target. Is there a certain criteria that I should be looking for? How did you all select your list?Thanks,DaNia

Bill Gulley · Answer

If you knew what your buyers wanted you'd save a heck of a lot in targeting you mailing efforts! For example, if your LL buyers only want 3/2/2 homes, it makes no sense in mailing to owners of a 2/1/0. Identify your buying market, that tells you the demand, then fill the demand. When you don't have a place to put something that's when failure rates increase for wholesaling, beating the bushes like a Realtor isn't the way to go.Know you market, where and what properties might be available, when you find an interested buyer for one, then mess with it. This keeps you from letting owners down in contracting, wasting your time and theirs.As a small wholesaler you need to think in surgical terms, cut out what moves quickly. Mail to the owner not the whole city. Select a geographical area of concentration like your buyers do. Understand what events trigger most sellers and select those events first, might be divorces, might be citations, it all begins by knowing your market and the demand. :)

Rob Rice · Answer

Congrats Dania,To answer your question you have to know what you intend on doing with the leads.If you are trying to wholesale a deals or looking for some fix and flips, or buy and holds, here is what to do.Go to ListsourceAbsentee owners, pick a zip code close to your residence. Go for 40% or more equity, or owned for 10+ years, Single family, exclude corps. If you don't have a thousand, expand to other zip codes touching yours until you get there. If you are looking for lease options to take over existing finance, or pass on existing financing to a tenant buyer here is what to do.You want nice homes. You can go to Listsource and get a list of homes near your zip code that are median price range for your area. Recently bought within 5 years or less. Go for a 1000 and expand zip codes until you reach that. You could also get some expired listings in the area from Agents. The important thing is to do the mailings NOW!!!!!!!!!!!!!!!!!!!!!!!!If you intend on doing them don't wait...Mail the stuff ASAP!!!!!!!!You just have to get started..It's not very detailed, but it will get you started...Good Luck.

Bill Gulley · Answer

LOL, and who are you listening to, newbies, gurus and wheeler-dealer coaches?Wholesaling is a runaway freight train, the Mad Hatter is having a tea party, you're on the golden brick road, better look to who is behind the curtain. If you're doing vacant houses, you can try that, if someone is living in the house that is a totally different matter! And, so you get a property under contract, then what, advertise it on CL? Good luck with that!I know mailings can be effective, Michael Q has it to an art, I never used the mail, I hate junk mail for one thing, but the other, I have no idea who I'm writing to. It could be an attorney, it could be a RE broker, maybe law enforcement, and I'm trying to do a straw man deal and load my letter with hype of fast closings and buying for cash? I don't think so, especially if I don't have a license, I'd think most would want to stay under the radar, but then.......that's not the guru way. :)

Eric H. · Answer

Hey Dania,Sounds like you a suffering from a case of analysis paralysis. Its time to take some action! I don't think it really matters too much which audience you choose. The key to direct mail is consistency and follow up. Budget for at least 6 mailings to at least 2000 prospects. I mail to absentees and citations.Hope this helps!Sincerely,E. Harris

Christopher B. · Answer

How has this gone?

DaNia Allen · Answer

Eric H. yes I am! lol I know that I need to take action but I also want to make sure that I'm going about it the right way. How did you decide on mailing to absentee and citations?

DaNia Allen · Answer

@Bill Gulley @Rob Rice - looks like I need to get to it with networking and researching my area :). I feel like I'm making this harder than it actually is.

DaNia Allen · Answer

@Bill Gulley I get what you're saying but I feel like everything that I've been reading and listening to are all pretty much saying to just get the deals and the buyers will come.

Darron Stewart · Answer

@DaNia AllenThe water looks nice and the pool is deep in some spots, may want to try taking a dip and see where it leads. Monitor the results and your success will guide the direction!Darron |=>~~~

Charlie John · Answer

All of them.Just do it and watch what happens.