Property analysis before sending direct letters?

Question

I see that people are sending out multiple letters a month, and I want to know how do you know what property you are discussing when a seller responds? I know that I can ask and they would tell me, but I'm not sure I would remember the property unless I told the seller I would call back after the initial conversation. Should you do research on all of the properties before sending them letters, and if so what should I focus on? I am currently targeting the tax delinquent list in my county.

Thank you,

Thank you

Mark Sewell · Answer

I agree with Jerryll on all statements, almost. This part about being unable to send FB ads to a predefined list is not 100% accurate. You can upload a list. Name, City State Zip code and (if you have it) phone and/or email can be uploaded. FB won't allow you to upload addresses. FB will try to match it up. It might only reach 70% or so but you can do this if you choose. Try running video at them and then retargeting them to see how much of the videos they actually viewed. You 'might' want to do this with certain lists just to see what kind of look-alike audiences FB will derive for you. Again, I agree with Jerryll that the beauty of FB is that Zuck knows all. Let the FB data do the heavy lifting. Give it some basic parameters and just let it go. Some gurus out there recommend just showing the advert to God and everybody. Testing is of course required, whatever you decide.

Jerryll Noorden · Answer

No.. The point to facebook is that facebook is simply the best database (you can see it as a list), where you can filter out the duds and keep the studs! The thing is that you do not scrub the list. Facebook does it for you. Nothing knows more about the population than facebook does. So all you do is give FB some initial conditions, and a set of audiences and FB will determine the best people to send your ad to for success. So your list is far inferior to FB's database. There is absolutely no point in sending facebook ads to people from a list you got elsewhere.And even if you wanted to do it, you would have to take each person on that list, find their facebook profile, and then figure out how to send a FB ad to that specific person. (you can't). Privacy laws won't let you do that.You would have to message each person individually... and if you do that, you are just way better off sending DMM to that person and so you are back to square 1.

Mark Sewell · Answer

I should add that I am still tinkering with this whole FB thing so the last thing I want to do is try to present myself as somebody that knows the answers. I don't. Jerryll is your guy for that.

Jerryll Noorden · Answer

Very welcome bubbles!

Hakeem Rahman · Answer

Thanks for the knowledge.

Hakeem Rahman · Answer

Would I still be able to target tax delinquent property owners from my list using facebook ads?

Jerryll Noorden · Answer

The reason why you can't vet the properties first is because DMM is based on "close your eyes, spin around 3 times and start throwing darts, and hope one sticks". (Yeah I am fiercely against DMM)See it this way. when you build a boat. A real boat. Using materials with a higher density than water, composites, metal, plastics etc. etc. you can either do something and hope it floats, or you can find the necessary equations and figure out first the weight of it all, cross reference that with the water displacement weight, and calculate FIRST whether the boat will float or not.Everyone that does DMM is basically building boats this first method.EVERYONE that does DMM is shoots arrows in the dark, and HOPE some will stick. This sounds offensive I know, but try to be 100% honest with yourself for a sec. Isn't that EXACTLY what you are doing?You are sending mailers out in the dark and "focus on the 2% that respond". But what that gentleman failed to mention is that 90% of that 2% will yell at you, call you names, demand you take them off their list and wonder how you found them, just to polite tell you to go ♥♥♥♥ yourself in the yingyang.If you have to send thousands of pieces just to catch a potential lead.... if you have to throw out 1000's of lines just to catch a fish, although you may (or may not) catch a fish that hardly justifies the method.People are completely blind to the facts and I just do not understand why. I seriously can not comprehend why DMM is still alive! At least not the way it is commonly done.If you think that you are scrubbing a list and filtering it to increase the chances... you are wrong.Not because someone has 2 houses (absentee owner), it means they are more likely to sell one. In fact it is more likely they will NOT sell one. (they wouldn't HAVE 2 houses if they didn't WANT 2 houses).old age filter?Dude go to wallmart. Tap 30 random old timers on their shoulders and ask them if they want to sell their house for cash below market value.NO ASK!! DO it!How many of these 30 people will say yes... ? Not likely right?See? because you are behind a computer, removed from real life, you don't see it. Your common sense is shaded.But get out there, and physically manifest what you are doing on the computer and suddenly you clearly see/feel that this would NEVER work.Now you can combine filters, right? I am telling you combine random with random, and you still have random.If you want to make deals right now, reliably with predictability, set up short term lead generation facebook ads, PPC while you work on a credible SEO infused website.

Barry Pekin · Answer

@Hakeem Rahman, I totally agree with @Wayne Brooks. If you're sending out mail, it should be hundreds or thousands of pieces. There's no way you could keep that all in your head. When I speak to someone, the first thing I ask is what the address is. As the conversation progresses, if it does, I start looking up the property while talking to them. I let them talk - a lot. I listen, but I'm also pulling up what I have in my records and online so I can start talking more intelligently about the property when the conversation gets that far.

Wayne Brooks · Answer

No, you will find that to be a terrible waste of time. Just focus on the ones that actually respond...maybe 2% of the people you mail.