Originally posted by @Eric H.:
Context: As stated in the title I recently ran my first direct mail campaign of 1000 postcards here in San Antonio Texas. I got 1 phone call I did go out and make an offer on the house. It was an inherited home with $0 owed and an ARV of $60,000 in a rental neighborhood (comp rent $800 - $900), the prior tenant set the garage on fire. I offered $28k but the owner had an offer from Money Bug for $40k. Seeing as how I had spent some time with him and I found out he was only expecting about $25k before he got the $40k offer, I gave him the "give the little guy a shot" pitch but to no avail.
Question: With a .1% response rate should I remail this list (custom selection aimed at age and equity from PsPrint) or should I get a new list from a new source?
P.S.: I wasn't sure if this post should go under wholesaling or marketing so I just picked one
Maybe tweaking the mailers and message can work but the list itself what was it targeting (absentee owners, probates, etc.)? Going with a mailer at least 3-4 times is the best way to achieve success with them. Its a law of averages with mail campaigns.
As for you being overbidded; while it does stink that he goes with the higher offer. But just stick to a formula and if the property doesn't than on to the next one. What I love about this industry is it being about the numbers not emotions. The people who got it for 40K might be getting more than they bargained for on the property. Be patient, positive, and persistent and it will work out!
