$5,000 Direct Mail Budget for Motivated Sellers- Help!

[Ben G.]

I have been told by a few respected individuals in the community that I am over analyzing the criteria for my list and that I just need to get started. I do agree that analysis paralysis is preventing me from pulling the trigger. However, when I plan on shelling out $5,000 towards my overall campaign (multiple letters to absentee owners) I want to be somewhat confident that I'm targeting the right absentee owners.

Anyone who uses wholesaling as a strategy, and has had success with direct mail in the past if you could share the criteria you have used for building your list it would be greatly appreciated. I really want to make this $5,000 work for me. I plan on sending 500-1000 mailers per month depending on the # of absentee owners I have access to based on my criteria.

The struggle I'm finding is that some successful wholesalers are saying that 10+ years for length of residence is important because it's hard for ListSource to ultimately determine equity in a home and there's a good chance someone with 10+ years in residence has enough equity. However, what if they have recently refinanced?

Is LTV or Equity % important. What if someone owns the home outright, and therefore there wouldn't be any LTV. How are these list providers determining equity?

I guess I would like to hear what success you have had with direct mail if any, and if so what did your list look like? From there, I am sure I will have the confidence to settle on my list and pull the trigger with my $5,000 marketing budget.

Ben