All Forum Posts by: Jon Mitchell

 I've never used Foreclosure.com so I'm not too sure of how it's laid out. If you have an address, you should be able to type it in on the county site and find out who the homeowner is.. Unless the state that you reside in has certain privacy laws. Here in FL, pretty much everything is public record lol. Otherwise, they're must be an issue elsewhere. 

I use Prop Stream to get leads for each of my niche lists. For foreclosures, it's important to what type of foreclosure state you're in: judicial or non-judicial. 

In judicial foreclosure states, like FL, the proceedings must be conducted through the courts with a judge making a final ruling. In a non-judicial foreclosure state, like GA, lenders can foreclose on a homeowner without going through the courts. This puts homeowners in a pretty bad spot, because now they can be foreclosed on significantly faster. TN is unique because foreclosure proceedings can be either judicial or non-judicial depending on the circumstances. 

PropStream gives you all of the owner's information. When you go to download your list, the names, subject address, and the homeowner's current address (if different from the subject property) will be on there. 

You can also do skip-tracing, which gives you the ability to find the homeowner's most recent phone number. This is useful if you are savvy with cold calling (or want to learn).

Hope this helps! 

 I also use PropStream for foreclosure leads. I was able to compile a list of a little over 200 prospects. I dated them back from the beginning of this year to now. 

First thing is to know what type of foreclosure state you're investing in: judicial or non-judicial. In a judicial foreclosure state, the process must be conducted through the courts with a judge making a ruling. The foreclosure has several stages which can last a year or longer. The timeframe can also be influenced by whether or not the homeowner has legal representation. Homeowners without representation are likely to be foreclosed on much quicker compared to someone that does for obvious reasons: they don't how to defend themselves in a foreclosure proceeding, they don't know how to raise arguments in their favor, or how to negotiate. Florida, where I'm at, is a judicial state.

In a non-judicial state, the lender can foreclose on a home without going through the courts, and can foreclose on someone within a couple of months. Much quicker. Texas is a good example of that.

 How do those sites compare to PropStream? 

Yes, feel free to send some info on that! I'd be happy to attend your next one given that the schedule allows.

Hey everyone,

just wanted some opinions on search criteria when looking for prospects. I do have niche lists created: foreclosure, divorce, bankruptcy, absentee owner, etc. Now I'm looking for a more generalized list to potentially add to my direct mail campaign down the road. 

I was thinking of the following criteria:

1. Individually owned

2. No mortgage or no more than one mortgage. 

3. 10+ years of ownership.

4. Minimum home value of $400k (or a specified min/max range. Give any opinions on that). 

5. Minimum 60% in equity

6. Minimum rent: $2500

7. Owner occupied

8. LTV: 1-60%

9. Single family

Any advice would be greatly appreciated! 

 The company that I've hired to do my direct mail does that very similar method with an envelope close to that size with a customized design on it. Handwritten addressing, physical stamp, and a handwritten message. Based on the reviews of them, it seems like its a pretty successful venture. Throughout time, I'd like to buy my own equipment capable of doing the same thing so I can do everything in house. It'll definitely save costs in the long run. Thanks for the insight! 

I know with a metering system, you can get a pretty hefty discount on postage especially in bulk. Having to pay over 60c now per stamp can be a little rough when you're sending out thousands of letters. But, if a physical stamp builds a little bit more of a personal connection with your mail and increases your responses, then it might be worth it. Your cost per deal will likely be lower if your converting your prospects. Lots of trial and error. 

Everything looking too "formal" doesn't really build any sort of a personable interaction with the mail. It just looks like another corporate guru trying to win your business. What do you think? 

Hey everyone,

I'm beginning my direct mail marketing campaign through a third party company as of now. As I grow and expand my business, I would like to start doing most, if not all, of my direct mail in-house to save mailing costs in the long term. Where I'm stuck is whether I should use a metering system that pre-prints a stamp onto the envelop or find a machine that can place a physical stamp onto an envelope (obviously I can't sit there all day stamping).

I'm thinking from the perspective of mail that looks to "businessy" vs. mail that looks more personalized for better response/conversion rates. I also want some opinions on handwritten vs typed letters/envelopes. Is it a good idea to favor one or the other, or incorporate a little bit of both into a single mailer? I'm not too much of fan of yellow letters.. some of the examples that I've seen tend to look a little unprofessional. Just my opinion.

Just realized I misspelled "hear." LOL

Hey everyone!

Its been a tough decision about how to go about doing direct mail campaigns in my area. I've gone back and forth between post cards, yellow letters, professional letters, etc. and have been pulled in different directions with different mailing companies. 

I've attached a template for either a yellow letter or professional letter with direct messaging to foreclosures. I do plan on making other templates for tax liens, bankruptcy, divorce, and absentee owners. Feel free to give any opinions about the way I have this structured. I took a screen shot of the word doc. 

Some general questions: 

1. Is it too long?

2. Is it a good idea to give ultimatums? (If you don't do this, then this...)

3. Is this format too professional for a yellow letter? 

4. Is it a good idea to incorporate logos, portraits, and QR codes for direct access to my site? 

5. Any changes to the order of how the content is presented? 

I'm always up for constructive criticism!