Targeting multifamilies

[Bill Campbell]

I am currently getting ready to send my first direct mail campaign.  I intend to send mail to 700 multifamily properties owners.  These properties are located in a part of a city that contains 3,000 properties.  I was just seeing if anyone else has successfully mailed to just multifamily owners before.  

Thanks in advance,

Bill 

[April Crossley]

I just did a multifamily mailing in my area, 300 letters, I got 7 responses on the 1st letter.. and I've sent 3 rounds of letters since and each time I get between 5-7 responses. You might be pleasantly surprised and finding yourself NOT wanting to wholesale them. Multifamily investors are more in it for the long haul. A lot that you talk to will likely have owned for a long time and be looking to seller finance- this is what I have found. I have also found, in my area, yellow letters do not work in the multifamily game. The response I have gotten from these sellers is that they respond to my letter because it looks professional like I know what I'm doing and not handwritten "like I'm a newbie trying to buy their property at 50 cents on the dollar."   I just found the response interesting. I have done yellow letters in the past- but I will not use it for multifamily. At least not in my market. I know EVERY area is different. :)  I wish you the best with your campaign and agree with all the above statements.... mail, mail, mail. Now that I'm on my 4th mailing  to this same list I am getting some people calling me telling me to stop mailing to them because they aren't selling.. haha! I LOVE that... that is how I know I am doing it enough. Don't get discouraged. Just keep mailing.