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All Forum Posts by: Elliot Smith

Elliot Smith has started 19 posts and replied 191 times.

Post: Targeted Direct Mail lists

Elliot SmithPosted
  • Investor
  • Vancouver, WA
  • Posts 270
  • Votes 111
Originally posted by @Rick H.:
Originally posted by @Elliot Smith:
Originally posted by @Ryan Dossey:

I prefer absentee and I'm now trying 65+ as well. 

 Ryan I just tried to filter a list by age on listsource and it took the names from 4500 to 2 people... I don't think it worked.

Elliot 

 Of course, if you could increase your odds, stack the deck in your favor, and increase the amount of money that you could afford and justify on marketing. 

Since you most likely only buy assets one at a time, buying one (1) of those two (2) would be 50% of a very well defined list. 

I have lists in my nano-niches were only 20 or fewer exist. I have worked and close many deals with $100K minimum net profit where I've spent $1,000 per lead and only closed 20%. 

However, when you do the math, (5 X $1,000 = $5,000 when it takes 5 prospects to close one deal) you see that having a big list or being cheap on marketing is not always the best answer. 

 Rick,

What is the time put into finding the people in the "nano-lists" 

We went the absentee list because that list was something that we could start mailing to immediately. And we have seen some success with this list in our short time.  However with my wife going full time I think that doing more digging on lists will be a positive use of her time.

Thanks for your imput.

Post: Direct Mail Best day week months?

Elliot SmithPosted
  • Investor
  • Vancouver, WA
  • Posts 270
  • Votes 111

Just mail! We mail out everyweek with out fail. But then again test them! We are testing this week. We dropped 250 in mail on Sunday, Monday, and Tuesday this week so we will see. We also did this because I don't want to flood the system on one day.  However I still have people call me a month after I sent them the letter so I don't think it matters. If they are motivated/interested they will call, if they aren't they won't. 

Post: Targeted Direct Mail lists

Elliot SmithPosted
  • Investor
  • Vancouver, WA
  • Posts 270
  • Votes 111
Originally posted by @Ryan Dossey:

I prefer absentee and I'm now trying 65+ as well. 

 Ryan I just tried to filter a list by age on listsource and it took the names from 4500 to 2 people... I don't think it worked.

Elliot 

Post: Deal 4 and 5 closed!

Elliot SmithPosted
  • Investor
  • Vancouver, WA
  • Posts 270
  • Votes 111
Originally posted by @Aron Cohen:

great to hear. I recently closed on deal 4 with my brother and looking to do this full time asap. when would you suggest going full time?

 We looked at it more as a financial deal. We have 1.5 years of her income saved up. Plus each rental property has its own savings, and a separate savings that is for the tax man. 

Also we already live off of only my income so we looked at this as the opportunity cost was huge compared to what she was making. 

Also our only debt is 3 houses, we don't have cable, we own our cars, and we save alot.

Post: Deal 4 and 5 closed!

Elliot SmithPosted
  • Investor
  • Vancouver, WA
  • Posts 270
  • Votes 111

Hey all I haven't posted in a few week but I wanted to let you know how were doing. In the last ten day's my wife and I have closed 2 wholesale deals. This brings our total upto 5 since our first one closed early April! 

The money has been nice (even though we don't spend it) but the 2 best things that have come from this is. I get to run a business with my wife, while it's hard at times it overall has been awesome. And I have met some amazing people and that is worth more to me than any check.

My wife and I did hit our goal of having 1.5 years worth of her income saved up so she will be quiting her job next week to go into full time marketing/building! 

Thanks for all the great support along the way!

Post: Anyone from Oregon for meet?

Elliot SmithPosted
  • Investor
  • Vancouver, WA
  • Posts 270
  • Votes 111

Thanks for having this meeting! I would love to do this again. I feel like I got alot of great information and met so many great people!

Thanks 

Post: Pacific NW Real Estate Meetup - South Sound Edition - July 10th

Elliot SmithPosted
  • Investor
  • Vancouver, WA
  • Posts 270
  • Votes 111

Where is the Vancouver meet up! 

Post: what am I doing wrong?

Elliot SmithPosted
  • Investor
  • Vancouver, WA
  • Posts 270
  • Votes 111
Originally posted by @Mike Osterman:

just to give you of an idea of my "small operation" 3500 for July. 

 Nice I just bought a bunch of those from costco today! Are you running through a printer? We are doing a split test this week with hand written font that my wife did put together. So we will see. 

Post: How would you spend a $10,000 per month marketing budget?

Elliot SmithPosted
  • Investor
  • Vancouver, WA
  • Posts 270
  • Votes 111
Originally posted by @Jay Hinrichs:

@Michael Quarles  OK mike for a test run here...maybe we can do this as a live exercise for BP and let those interested shadow or follow... I will put up the 30k  you mentor me through it and we post results... 

Take myself who other than a few very target small markets for very specific properties has never done a direct mail campaign.

 I have the assets in place to follow up and close and do the rehab or ... can close ( have the cash) and then flip... so I have that part in place.

 This sounds awesome Jay. Michael has been great for us to work with. I also call bandit signs and CL ads and I rarely get calls back. I don't understand why they even waste their time and money. 

Hope your enjoying this beautiful Portland weather. 

Post: Test time with post cards

Elliot SmithPosted
  • Investor
  • Vancouver, WA
  • Posts 270
  • Votes 111

Well the results are in for the week. I got one lead from the post cards. However the week has been a good one since we sent out 180 letters on Sunday. We got 14 hits so far. We made 3 offers. I did get a property under contract up in Seattle area and I am working with a BP member on that one, so we will see how it pans out. All in all a good week!